CHRISTIAN FAITH CENTRE INTERNATIONAL MINISTRIES
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30[TH] DECEMBER 2022
CHARITY NUMBER: 1150128
CHRISTIAN FAITH CENTRE INTERNATIONAL MINISTRIES 1-21 LOWER TOWER STREET BIRMINGHAM B16 3NL
Index 1 Trustees Report 2 - 3 Accountant’s Report 4 Receipts and Payments Account 5 Statement of Assets and Liabilities 6 Notes on the financial Statements 7
1
CHRISTIAN FAITH CENTRE INTERNATIONAL MINISTRIES
TRUSTEES’ REPORT YEAR ENDED 30[th] DECEMBER 2022
The trustees are pleased to present their report for the year ended 30[th] December 2022 for the charity, Christian Faith Centre International Ministries with charity number 1150128.
The Trustees of the charity are: Mr Thomas Manu Rev Samuel Kwofie
Mr Eric Afriyie
The principal address of the charity is: 1-21 Lower Tower Street Birmingham B19 3NL
STRUCTURE, GOVERNANCE AND MANAGEMENT
The Charity governing document is a declaration of trust that was executed 29[TH ] August 20011.The Charity is governed by a board on which the trustees are represented. It meets regularly to review, plan activities and monitor the financial position.
OBJECTIVES AND ACTIVITIES
The Objects of the organisation are first to advance the Christian faith in accordance with the statement of beliefs for the benefit in the United Kingdom and in such other parts of the world as the trustees may think fit from time to time. The trustees confirm that they have had due regard to the guidance issued by the Charity Commission on public benefit before deciding what activities the charity should undertake.
ACHIEVMENTS AND PERFORMANCE
The Organisation continues to hold successful meetings through the year in which individuals were equipped and educated on the principles and doctrines of the Christian faith. The organisation held several conferences during the year in which individuals came from all around the community to attend. This has produced good results in reaching and helping members of the community. The church now has 3 branches located in Birmingham, Stoke-on-tent and Wolverhampton. The church is also supporting the building of a branch church in Ghana.
2
FINANCIAL REVIEW
The income of the charity is above £203,000. This is a good amount for this year of the charity the costs have been well managed over this period. The organisation is still in a good position to manage its costs. The main cost of the organisation was paying for the rent of its building that it uses for worship services and purchasing church equipment. The church also purchased a minibus to use for transporting members back and forth from the services.
.
RESERVE POLICY
It is the policy of the Charity to maintain unrestricted funds, which are the reserves of the charity at about 3 months of unrestricted expenditure. This provides sufficient funds to cover any emergency expenditures that may arise from time to time. The charity will seek to maintain this level throughout the year.
RISK MANAGEMENT
The charity have assessed all the major risks to which the charity is exposed to, in particular those related to operations and finances of the charity, and are satisfied that systems are in place to mitigate exposure to major risks.
TRUSTEE RESPONSIBILITIES
Under the Charities Act 2011,the trustees are required to prepare a statement of accounts for each accounting year which gives a true and fair view of the state of the church. They are required to:
-
Select suitable accounting policies and apply them consistently.
-
Make judgements and estimates that are reasonable and prudent.
-
State whether the applicable accounting standards have been followed.
-
Prepare financial statements on an ongoing basis.
They are responsible for keeping proper records which disclose with reasonable accuracy the finances of the church at any time and to ensure that such accounts comply with the Charities Act 2011.They also have a responsibility to safeguard the assets of the church and to take reasonable steps to detect fraud or other irregularities.
Approved by the Trustees on 23[rd] February 2023 and signed on their behalf by:
3
Independent Examiner’s Report To the Trustees CHRISTIAN FAITH CENTRE INTERNATIONAL
I report on the accounts of the church for the year ended 30[th ] December 2022 set out on the following pages which have been prepared on the basis of the accounting policies shown in the corresponding pages.
Respective responsibilities of trustees and examiner
The trustees of the church are responsible for the preparation of accounts: they consider that the audit requirement under section 144(2) of the Charities Act 2011 (the 2011 Act),does not apply. It is my responsibility to :
-
Examine the accounts under section 145 of the 2011 Act.
-
Follow the procedures laid down in the General Directions given by the Charity Commissioners made under section 145(5)(b) of the 2011 Act.
-
State whether particular matters have come to my attention.
Basis of Independent examiner’s report
My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the church and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts.
Independent examiner’s statement
In the course of my examination, no matter has come to my attention;
-
(1) which gives me reasonable cause to believe that, in any material aspect, the trustees have not met the requirements to ensure that:
-
proper accounting records are kept( in accordance with section 130 of the 2011 Act
-
accounts are prepared which agree with the accounting records and comply with the accounting requirements of the 2011 Act: or
-
(2) to which , in my opinion , attention should be drawn in order to enable a proper understanding of the accounts to be reached
Chuks Ajuka Bsc(Man), FICB PMDip Fresh Fire Organisation Generator Business Centre 95 Miles road Mitcham, CR4 3FH.
Dated: 23[rd] - Feb -2023
4
CHRISTIAN FAITH CENTRE INTERNATIONAL MINISTRIES
ACCOUNTS FOR THE YEAR ENDED 30th December 2022
1 Receipts & Payments Account (General Purpose Fund)
| Income Receipts Donations Gift Aid Total Receipts Direct Charitable Expenditure Hospitality Hire of Hall Media expenses Charity giving Stationary & Printing Sacraments Wages Professional fees Security Church Supplies Renewals & Maintenance Welfare Outreach expenses Donations Events Music expenses Rates Insurance & Subscriptions Vehicle expenses Speakers Expenses Other Expenditure Minibus Equipment & Instruments Land Total Payments Net Receipts/(Payments) for the year Loan out Cash Funds brought forward Cash Funds at the end of the year |
£ £ 2022 2021 165204 167082 38741 27051 |
|---|---|
| _ _ 203945 194133 |
|
| _ _ 5155 4415 37600 41825 5744 3029 12276 10177 2216 1760 480 820 17191 12852 5159 4013 3500 0 8354 15525 5500 0 6629 5809 3301 6204 0 5200 15935 0 5960 4500 17670 10934 12366 0 18455 23115 2880 3030 |
|
| 186371 153208 0 0 9285 16673 5000 22090 |
|
| 14285 38763 200656 191971 3289 2162 -5000 16640 14478 |
|
| ___ ___ 14929 16640 |
___ ___
5
CHRISTIAN FAITH CENTRE INTERNATIONAL MINISTRIES
2 Statements of Assets and Liabilities at 30th December 2022
| Cash Funds Bank Total Cash Funds Assets Retained for the Charity's Own use Vehicle Equipment & Instruments Fixtures & Fittings Minibus Land Liabilities Accounting fee NET ASSETS |
Unrestricted Funds 2022 2021 £ £ 14929 16640 |
|---|---|
| _ _ 14929 16640 |
|
| _ _ 2347 2934 23658 20287 4734 5918 2996 3744 27090 22090 |
|
| 60825 54973 150 150 |
|
| 75604 71463 |
Approved by the Trustees and signed on their behalf:
6
CHRISTIAN FAITH CENTRE INTERNATIONAL MINISTRIES
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30th December 2022
ACCOUNTING POLICIES
Basis of Accounting
These accounts have been prepared on the receipts and payments basis of the Charities Act 2011.
Funds
Unrestricted funds are those which can be used at the Trustees' discretion. Restricted Funds are those whose purposes have been restricted by the donor.
Transaction with trustees and related parties
The church had 2 employees during the accounting year. All the other work of the organisation was undertaken by volunteers during the financial year. Trustee Rev Samuel Kwofie was paid £12852 for pastoral services rendered to the charity.
Public Benefit
The charity acknowledges its requirement to demonstrate clearly that it must have charitable purposes or aims that are for public benefit.Details of how this is achieved are provided in the Trustees report. The trustees confirm that they have paid due regard to the Charity Commission guidance on public benefit before deciding what activities the charity should undertake.
Depreciation
Depreciation on all assets are calculated at 20% reducing balance method. Fixed Assets
| Equipment | ||||||
|---|---|---|---|---|---|---|
| Cost | Instrument | Vehicle | Fix & Fitts | Minibus | Land | |
| £ | £ | £ | £ | £ | ||
| 31/12/2021 | 31978 | 6185 | 13365 | 7650 | 22090 | 81268 |
| Additions | 9285 | 0 | 0 | 0 | 5000 | 14285 |
| 30/12/2022 | 41263 | 6185 | 13365 | 7650 | 27090 | 95553 |
| Depreciation | ||||||
| 31/12/2021 | 11691 | 3251 | 7447 | 3906 | 0 | 26295 |
| Charge | 5914 | 587 | 1184 | 748 | 0 | 8433 |
| 30/12/2022 | 17605 | 3838 | 8631 | 4654 | 0 | 34728 |
| NBV | ||||||
| 31/12/2021 | 20287 | 2934 | 5918 | 3744 | 22090 | 54973 |
| 30/12/2022 | 23658 | 2347 | 4734 | 2996 | 27090 | 60825 |
7