## **THE COURAGE CENTRE**
COMPANY LIMITED BY GUARANTEE
**CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30[TH] JUNE 2024**
COMPANY NUMBER: 08212434 CHARITY NUMBER: 1149419
THE COURAGE CENTRE Year ended 30[th] June 2024
## **TABLE OF CONTENTS**
Board of Trustees' Report ................................................................................................ 1 Reference and Administrative Details .............................................................................. 4 Statement of Financial Activities ...................................................................................... 5 Balance Sheet .................................................................................................................... 6 Notes to the Financial Statements ................................................................................... 7
Page i
THE COURAGE CENTRE Year ended 30[th] June 2024
## **BOARD OF TRUSTEES' REPORT**
The Trustees are pleased to present their report with unaudited financial statements for The Courage Centre (Company Registration No. 08212434, Charity Registration No. 1149419) for the year ended 30[th] June 2024.
## **Structure, Governance and Management**
## _Organisational Structure_
The organisation is a charitable company limited by guarantee, incorporated September 2012 and registered as a Charity in October 2012. The Courage Centre is a member of Kingsway International Christian Centre (KICC). The Charity is governed by its Memorandum and Articles of Association.
## _Corporate Governance_
The Charity is governed by a board of trustees who have overall responsibility for overseeing the charity’s strategy and operations. The Trustees meet formally as and when required to review the operations and monitor the financial position of the charity.
## _Management_
The day to day running of the church has been delegated to the resident Pastor, Mr Samuel Dagunduro, and a leadership team comprising of Ministers, Deacons and other persons that the Charity recognises as leaders of its church.
The Leadership report regularly to the Trustees on their assessment of risks and how they are managed, enabling the Trustees to review key risks inherent in the charity, and the system of control necessary to manage such risks.
## **Objectives and Activities**
The main objective is the advancement of the Christian faith. The vision is to bring people to the knowledge of Christ and to fully equip them to live a Christian lifestyle.
The Trustees regularly review activities to ensure they are in accordance with the aims and objectives of the charity as contained in the Charity Commission Guidance on the Advancement of Religion for the Public Benefit.
The Pastors and Ministers look after the spiritual wellbeing of the members and conduct christening ceremonies, marriages and funerals.
Page 1
THE COURAGE CENTRE Year ended 30[th] June 2024
All Courage Centre activities are available to Christians and non-Christians, members and non-members alike; there is no restriction to attendance. The wider community have mainly attended services celebrating traditional Christian festivals including Easter, Christmas and New-Year's Eve services.
## **Achievements and Performance**
The church has held regular meetings on Sundays and during the week, as well as through social media platforms. The church organised a family day during the summer which attracted members of the community. It was an opportunity for fellowship, interaction and evangelism within the community.
Members received counselling and mentoring, and were educated in the principles and doctrines of the Christian faith.
## **Financial Review**
## _Financial Performance_
The Charity recorded an operating deficit for the year of £2,559.
The total income this year was £29,806; and was made by members and organisations through tithes, offerings, and donations. Total expenditure in the year was £32,365.
## _Reserves Policy_
The ministry is still recovering from the impact of the COVID pandemic. The church is working towards building its reserves.
## **Trustees Responsibilities Statement**
The Trustees (also directors of the Charity for the purposes of company law) are responsible for preparing the Trustees' Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure of the charity.
Page 2
THE COURAGE CENTRE Year ended 30[th] June 2024
Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity for that period.
In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities Statement of Recommended Practice;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed, subject to any material departure disclosed and explained in the financial statements; and
- prepare financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
This Trustees Report is approved by the Trustees and is signed on its behalf by:
Signed: O A Banwo
## **Mr Olumuyiwa Banwo - Trustee**
Date: 27/01/2025
Page 3
THE COURAGE CENTRE Year ended 30[th] June 2024
## **REFERENCE AND ADMINISTRATIVE DETAILS**
## _Trustees and Advisers_
Founder, Visionary & Senior Pastor Reverend Matthew Ashimolowo
## _Trustees_
Olawale Adebayo Olumuyiwa Banwo
## _Resident Pastor_
Samuel Dagunduro
## _Registered Address_
KICC Prayer City Buckmore Park Maidstone Road Chatham ME5 9QG
## _Bankers_
Natwest Bank 501 Silbury Boulevard Milton Keynes MK9 3ER
Company number - 08212434 Charity number – 1149419
Page 4
THE COURAGE CENTRE Year ended 30[th] June 2024
## **STATEMENT OF FINANCIAL ACTIVITIES**
## THE COURAGE CENTRE COMPANY LIMITED BY GUARANTEE STATEMENT OF FINANCIAL ACTIVITIES
(INCORPORATING THE INCOME AND EXPENDITURE ACCOUNT) YEAR ENDED 30 JUNE 2024
|**Note**
INCOMING RESOURCES
Voluntary Income
2
Other Income
3
TOTAL INCOMING RESOURCES
RESOURCES EXPENDED
Charitable activities
4
Grants to other charitable Causes/Orgns
5
TOTAL RESOURCES EXPENDED
NET INCOMING RESOURCES FOR THE YEAR
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD|**Unrestricted**
**Funds**
£
29,806
-
29,806
(31,735)
(630)
(32,365)
**(2,559)**
13,126
**10,567**|**Restricted**
**Funds**
£
-
-
-
-
-
-
**-**
-
**-**|**2023/24**
**Total Funds**
£
29,806
-
29,806
(31,735)
(630)|**2022/23**
**Total Funds**
£
23,084
15,000|
|---|---|---|---|---|
|||||38,084
(27,623)
(1,105)|
||||(32,365)|(28,728)|
||||**(2,559)**
13,126
**10,567**|**9,356**
3,770|
||||||
|||||**13,126**|
All income and expenditure derive from continuing activities
Page 5
THE COURAGE CENTRE Year ended 30[th] June 2024
## **BALANCE SHEET**
## THE COURAGE CENTRE COMPANY LIMITED BY GUARANTEE BALANCE SHEET 30 June 2024
|**Note**
FIXED ASSETS
Tangible assets
6
CURRENT ASSETS
Debtors
7
Cash at bank and in hand
CREDITORS: Amount falling due within one year
8
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
CREDITORS: Amount falling due after more than one year
NET ASSETS
FUNDS
Restricted income funds
9
Unrestricted income funds
10
TOTAL FUNDS|**2023/2024**
£
5,195
723
4,649
5,372
-
5,372
10,567
-
**10,567**
-
10,567
**10,567**|**2022/2023**
£
-
-
13,126|
|---|---|---|
|||13,126
-
13,126|
|||13,126
-|
|||**13,126**|
|||-
13,126|
|||**13,126**|
The accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies’ regime.
Signed: O A Banwo
## **Mr Olumuyiwa Banwo - Trustee**
The notes on pages 7 to 10 form part of these financial statements.
Page 6
THE COURAGE CENTRE Year ended 30[th] June 2024
## **NOTES TO THE FINANCIAL STATEMENTS**
## **1 Accounting Policies**
## _Basis of Accounting_
The financial statements have been prepared in accordance with the second edition of the Statement of Recommended Practice applicable to Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) effective 1 January 2019, and with the Charities Act 2011, and with Companies Act 2006.
## _Incoming Resources_
All incoming resources are included in the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
## _Fund Accounting_
Unrestricted funds can be used in accordance with charitable objectives at the discretion of the trustees. Restricted funds are funds which are to be used in accordance with specific instructions by donors. These funds have been set aside as reserves.
## _Resources Expended_
All expenditure is included in the Statement of Financial Activities on an accrual basis, inclusive of VAT which cannot be recovered.
Resources expended have been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use or resources.
Support costs are those costs incurred directly in support of expenditure on the objectives of the charity.
## _Tangible Fixed Assets_
Depreciation is calculated so as to write off the cost of an asset on a straight line basis over the useful economic life of the asset. All tangible asset costs have been written off.
Plant & Equipment – 33.3% per annum Motor Vehicles – 33.3% per annum
Page 7
THE COURAGE CENTRE Year ended 30[th] June 2024
## _Taxation_
The charity is exempt from tax on its charitable activities.
## **2 Voluntary Income**
|Tithes & Offerings
Donations & Grants
Midweek/Welfare Offerings
Transport Fund
Building Fund
**Other Income**
Other charitable organisations
**Charitable Activities**
Ministry
Welfare
Events
Transport
Support including rent|**Unrestricted**
**Restricted**
**30 Jun**
**2024**
£
£
£
29,806
-
29,806
-
-
-
-
-
-
-
-
-
-
-
-
29,806
-
29,806
**Unrestricted**
**Restricted**
**30 Jun**
**2024**
£
£
£
-
-
-
**30 Jun 2024**
**30 Jun 2023**
£
£
6,360
2,790
-
-
1,218
840
456
-
23,701
23,993
31,735
27,623|**30 Jun**
**2023**
£
23,084
-
-
-
-|
|---|---|---|
|||23,084|
|||**30 Jun**
**2023**
£
15,000|
## **3 Other Income**
## **4 Charitable Activities**
## **5 Grants to other Charitable Causes/Organisations**
**30 Jun 2024 30 Jun 2023** £ £ KICC National Forum 630 1,105
Page 8
THE COURAGE CENTRE Year ended 30[th] June 2024
## **6 Tangible Fixed Assets**
|**Depreciation**
as at 1 July 2023
Charge for year
As at 30 June 2024
**Net Book Value**
As at 30 June 2024
**7 Debtors**
Prepayments
Other Debtors
**8 Creditors**
Falling within one year|**Plant &**
**Equipment**
£
-
-
-
-
**30 Jun**
**2024**
£
723
-
723
**30 Jun**
**2024**
£
-
-|**Motor/**
**Vehicles**
£
-
305
305
5,195
**30 Jun**
**2023**
£
-
-
-
**30 Jun**
**2023**
£
-
-|**Total**
£
-
-|
|---|---|---|---|
||||-|
||||-|
|**9 **|**Restricted Income Funds**|||||||||
|---|---|---|---|---|---|---|---|---|---|
|||**Balance at**||**Incoming**||**Outgoing**||**Balance at**||
|||**1 July 2023**||**Resources**||**Resources**||**30 June 2024**||
|||£||£||£||£||
||Reserve||-||-||-||-|
Page 9
THE COURAGE CENTRE Year ended 30[th] June 2024
## **10 Unrestricted Income Funds**
||**Balance at**|**Incoming**|**Outgoing**|**Balance at**|
|---|---|---|---|---|
||**1 July 2023**|**Resources**|**Resources**|**30 June 2024**|
||£|£|£|£|
|General Funds|13,126|29,806|(32,365)|10,567|
## **11 Staff Costs and Trustees' Remuneration**
No remuneration and expenses have been paid during the year to the Trustees.
## **12 Staff numbers**
The Church does not employ any staff. All activity is carried out by volunteers.
Page 10