2023-12-31-accounts - Sda Reform Movement

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COMPANY REGISTRATION NUMBER 08M2952

SDA REFORM MOVEMENT COMPANY LIMITED BY GUARANTEE

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

31 DECEMBER 2023

CHARITY NUMBER: 1151248

ARCHIE ASSOCIATES 37 Eastcote Road, Harrow, Middlesex HA2 8LQ

SDA Reform Movement (Registered charity, number 1151248) (Registered company, number 08432952) Financial statements for the year ended 31 December 2023

Page Contents 2 Statutory Information 3 - 6 Trustees' annual report 7 Independent examiner's report 8 Statement of financial activities 9 Balance sheet 10 - Notes to the accounts 16

SDA Reform Movement Trustees' annual report for the year ended 31 December 2023

The trustees, also directors of the charity for the Companies Act, submit their annual report and financial statements for the year ended 31 December 2023. The Board has adopted the provisions of the Accounting and Reporting by Charities: Statement of Recommended Practice, applicable to charities preparing their accounts following the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1st January 2015) and the Companies Act 2006.

Reference and administrative details

Charity Registration: 1151248

Company Registration: 08432952 Registered Office: 27 Old Gloucester Street, London, WC1N 3AX.

Trustees (Directors): Chairma n: Mr Lino Honor (from 17/12/2022) Secretary : Ms Abigaela-Aurelia Buftea (from 01/12/24) Treasurer: Mr. Heider Souza Dos Prazeres (from 01/12/2024) Mr Gheorghe-Cosmin Paulescu (From 29/5/2023) Mr Marcelo Leandro Cruz Barbosa (from 1/12/2024)

Bankers: Barclays Bank Plc, 197 Shenley Road, Borehamwood, Hertfordshire, WD6 1AR Barclays Bank Plc

Independent Examiner: Mr. K S[Sri Satkunasingham,][Archie Associates] 37 Eastcote Road, Harrow, Middlesex HA2 8LQ

The trustees of the charity have complied with section J an If+e Charities Act 2006[In][fulfilling] their duty to have due regard to public benefit guidance published by the Charity[Commission.]

SDA Reform Movement Trustees' annual report for the year ended 31 December 2023

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Governing Document

SDA Reform Movement was incorporated on 6 March 2013 as a company limited by guarantee, not having share capital. The Company is registered as a Charitable Trust. The Company is governed by its Memorandum and Articles of Association.

Appointment of Trustees

New Trustees are appointed by the board members from a wide audience that is open to all charity members. An introduction process is undertaken for all prospective Trustees before they are approved by the Board.

Trustee induction and training

New Trustees are induced by the Chair of the Board and existing Board members.

Organization

The Charity is managed by a Committee of Trustees which consists of the President, a Chair Director, a Treasurer, a secretary and one other Director.

Risk management

The Trustees have identified the major risks, both financial and operational, to which the Charity is exposed and have put in place controls to mitigate those risks.

The Trustees regularly review and monitor operational controls for improvements.

AIMS AND OBJECTIVES OF THE CHARITY FOR THE PUBLIC BENEFIT The aims and objectives of the Charity are:

1) to advance the Christian faith by the teachings of the Seventh Day Adventist Reform Movement mainly but not exclusively by:

a) Proclaiming the gospel of Lord Jesus Christ as expressed in the old and new testaments and the spirit of prophecy.
b) Organising into groups and churches the believers who accept this message and provide places for public worship and religious instruction;
c) preparing and ordaining ministers, elders, deacons and religious instructors;
d) Organising divine worship services, prayer meetings, bible classes and sabbath schools.
e) Training persons for missionary work and

SDA Reform Movement Trustees' Annual Report for the year ended 31 December 2023

2) To relieve persons who are in conditions of need or hardship or who are aged or sick in such parts of the United Kingdom or the world as the Trustees think fit.

Strategies used for achieving the various objectives

For the Charity to meet its aims and objectives, the Charity:

1) Holds regular meetings every Saturday to raise and uplift morale, especially the youth in the community.
2) Distributes flyers on outreach programs held on natural health and cooking classes
3) Holds lectures and seminars
4) Holds regular bible study.

In doing so, the Trustees, in exercising their duties and powers have complied with the duty in Section 4 of the Charities Act 2006 to have due regard to the guidance published by the Charity Commission including Public Benefit guidance.

MAIN ACTIVITIES AND ACHIEVEMENTS DURING THE YEAR

1.) Spring concert in London Church SDA Reform Movement on 8[th] of April 2023
2.) Family Seminar of the SDA Reform Movement in Doncaster on 26[th] & 27[th] May 2023
3.) Youth Camp Meeting of the SDA Reform Movement in Doncaster 31[st] May to 4[th] June 2023
4.) Baptism and Concert in Doncaster SDA Reform Movement Church on 27[th] May 2023
5.) Health Presentation of the SDA Reform Movement in Glasgow on 23[rd] June 2023
6.) Health Seminar of SDA Reform Movement in London on the 8[th] &9[th] of September 2023
7.) Charity Project in Care Home in Doncaster on the 5[th] November 2023
8.) Kids Concert in Care Home in Doncaster on the 16[th] of December 2023
9.) Concert in Doncaster on the 17[th of] December 2023
10.) Youth Meeting in London 28[th] December 2023.

SDA Reform Movement Trustees' Annual Report for the year ended 31 December 2023

FINANCIAL REVIEW

The results for the year are set out on page 8.

The charity generated income totaling £163603 (2022: £182,240.) in the year under review, the principal source of which is derived from individual donations.

Expenses for the year totaled £174,347 {2022: £149,815), r e s u l t i n g in a surplus of £10,744 {2022: £32,425} for the year.

As of the year-end date, general reserves stood at £160,268 (2022: £171,012).

Reserves Policy

The Trustees consider that the ideal level of reserves is approximately £10,000 in order to cover unplanned expenditures including emergencies.

SMALL COMPANY EXEMPTION

This report has been prepared in accordance with the special provision9 of Part 15 of the Companies Act 20O6 relating to small companies.

The attached financial statements comply with relevant legislation and with the charitable company's governing document.

Trustees' responsibilities

Company and charity law require 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 its incoming resources and application of resources, including the net income or expenditure, during the period. In preparing those financial statements, the trustees are required to:

“select suitable accounting policies and then apply them consistently; “make judgements and estimates that are reasonable and prudent;

” State whether applicable accounting standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial 9tatements.

” Prepare the financial statements on the going concern basis unles9 it is inappropriate to presume that the company will continue in business.

SDA Reform Movement Trustees' Annual Report for the year ended 31 December 2023

Trustees' responsibilities continued

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statement comply with the Companies Act 2006 and the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable step9 for the prevention and detection of fraud and other irregularities.

The trustees of the charity who served during the year and up to the date of this report are set out on page 2.

So far as the trustees are aware, there is no relevant information (as defined by Section 418 of the Companies Act 2006) of which the company's independent examiner is unaware, and each trustee has taken all the steps that he or she ought to have taken as a trustee in order to make himself or herself aware of any relevant information and to establish that the company's independent examiner is aware of that information,

Fixed assets

The movements in fixed assets during the period are reflected in note 6 in the accounts.

Events since the balance sheet date

No events have occurred since the balance sheet date, which affected the charity.

This report has been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities (SORP 2005).

Signed on behalf of the Trustee Board by Ciprian Catalin Budau - Trustee Director

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Mr Lino Honor -Trustee/Director Dated:

31/12/2024

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Independent examiner's report to the trustees of SDA Reform Movement for the year ended 31 December 2023

I report on the accounts of the company, which are set out on pages 8 to 16.

Respective responsibilities of trustees and examiner

The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, 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 under section 145(5)(b) of the 2011 Act; and
state whether particular matters have come to my attention.

Basis of independent examiner report

My examination was carried out by the general directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity 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, no opinion is given as to whether the accounts present a ’true and fair view’ and the report is limited to those matters set out in the statement below.

Independent examiner's statement

In connection with my examination, no matter has come to my attention:

which gives me reasonable cause to believe that in any material respect the requirements:
to keep accounting records by section 386 of the Companies Act 2006; and
• to prepare accounts that accord with the accounting records and comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities

have not been met; or

to which, in my opinion, attention should be drawn to enable a proper understanding of the accounts to be reached.

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Dated:31/12/2024

Signed Mr K S Sri Satkunasingham

SDA Reform Movement Statement of Financial Activities (incorporating an income and expenditure account) for the year ended 31 December 2023

	Unrestricted	Unrestricted	Restricted Total	Restricted Total	Restricted Total
		TotalFunds			*2022*
		Funds		*2023*
	Note	£	£	£
Income (and endowments)
from:
Donations and legacies	2	163603		163603	182240
Investments	3
Totalincome		163603	-	163603	182240
Expenditure on:
Charitableactivities	4	174347	-	174347	149815
Total expenditure		174347	-	174347	149815
Net income/(expenditure)		(10744)		(10744)	32425
Transfers between funds
Net movement infunds		(10744)	-	(10744)	32425
Reconciliation of funds	9,11
Total funds brought forward		171012		171012	138587
Total funds carried forward		160268	-	160268	171012

All the activities of the charitable company are classed as continuing. The company had no recognised gains or losses other than the net income for the period.

SDA Reform Movement Balance sheet

at 31 December 2023 Company Number: 08432952

			*2023*		2022
	Note	£	£		£
Fixed assets
TangibleAssets	6	4104		5147
Total fixed assets			4104		5147
Current assets
Debtors	7	576		576
Cash at bank and in hand		156687		166389
Total current assets		157263		166965
Liabilities
Creditors:
amounts falling due within one	8	(1100)		(1100)
year
Net current assets			156163		165865
Total net assets			160267		171012
The funds of the charity	9,1
	1
Unrestricted income funds
Designated
General			1 6 0 2 6 7		171012
			160267		171012
Restricted income funds
Total charity funds			160267		171012

For the period ending 31 December 2022, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors' responsibilities:

The members have not requested the company to obtain an audit of its accounts for the year in question by section 476 of the Companies Act 2006;
The directors acknowledge their responsibilities for complying with the requirements of the Act
concerning accounting records and the preparation of accounts.

These accounts have been prepared by the provisions applicable to companies subject to the small companies regime and with the Financial Reporting Standard for Smaller Entities (effective April 2008).

The financial statements on pages 8 to 16 were approved by the Board on its behalf by: 30th September 2023 and signed

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Signed Dated 31/12/2024

Mr Lino Honor, Director/Trustee

The notes on pages 10 to 16 form part of these financial statements

SDA Reform Movement Notes to the accounts for the year ended 31 December 2023

1. Accounting policies

Basis of the preparation of the accounts

The financial statements have been prepared in accordance with the Accounting and Reporting by Charities: 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 st January 2015) the Companies Act 2006, The Charities Act 2011 and applicable regulations.

Charity meets the definition of a public benefit entity. The financial statements have been prepared under the historical cost convention with items recognized at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.

Income

Income is recognized when the charity has entitled to the funds, any conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably.

Income from grants, whether 'capital' or 'revenue' grants, is recognized when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured and is not deferred.

For Legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalized and notification has been made, or when a distribution is received from the estate. Receipt of a legacy in whole or in part is only considered probable when the amount can be measured reliably, and the charity has been notified of the executor's intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate and the criteria for income recognition have not been met, then the legacy is treated as a contingent

Donated services and facilities

Donated services and donated facilities are recognized as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably.

Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

SDA Reform Movement Notes to the accounts continued for the year ended 31 December 2023

1. Accounting policies - continued

Fund accountng

Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Designated funds are unrestricted funds of the charity which the Trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity's work or for specific projects being undertaken by the charity.

Expenditure and irrecoverable VAT

Expenditure is recognized once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required, and the amount of the obligation can be measured reliably. Expenditure is classified under the following headings:

Cost of raising funds are those costs incurred in attracting voluntary income.
Expenditure on charitable activities includes all direct costs incurred to further the purpose of the charity together with associated support costs.
Other expenditure represents those items not falling into any other heading. Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred .

Allocation of support costs

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include office costs, finance, personnel, payroll and governance costs which support the charity's activities. These costs have been allocated entirely to the sole activity of the charity, being that of missionary work to advance the teachings of the movement.

Tangible fxed assets

All tangible fixed asset expenditure is capitalized at cost. Provision is made for depreciation on all tangible fixed assets, at rates calculated to write off the cost or valuation less residual value of each asset over its expected useful life as follows:

IT Equipment - 33.3% on written down value

Motor Vehicles - 25% on written down value

Debtors

Trade and other debtors are recognized at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

SDA Reform Movement Notes to the accounts continued for the year ended 31 December 2023

1. Accounting policies - continued

Cash at bank and in hand

Cash at the bank and cash in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Creditors and provisions

Creditors and provisions are recognized where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognized at their settlement amount after allowing for any trade discounts due.

Restricted and Unrestricted Funds

Restricted funds are funds received from donors which are subject to restrictions on the purposes for which they may be used. Unrestricted funds are those where there are no externally imposed restrictions. These include funds freely available to the charity for expenditure or appropriation to reserves for internally designated purposes.

Designated Funds

The charity's designated funds are established as a result of regular review of its ongoing needs by the Board of Trustees and are intended to fully cover significant identifiable financial commitments.

Taxation

As a registered charity, the company is exempt from income and capital taxes on its charitable activities.

Income from Donations and grants

Unrestricted Restricted Total 2022 funds funds funds Total £ £ £ £ Donations and gifts from individuals 163603 16360 182240 163603 3 182240 163603 Investment income income Unrestricted Restricted 2022 Total funds funds Total £ £ funds £ £ Bank Interest

Investment income income

SDA Reform Movement Notes to the accounts continued for the year ended 31 December 2023

Analysis of expenditure on charitable activities

	Unrestricte	Restricte	Total
	d	d	funds
	funds	funds
			*2022*	2022
Direct costs of Missionary	£	£	£	£
Bibles, courses, conference & meeting costs
Fieldexpenditure	55689	-	55689	18635
General council costs	50806	-	50806	29180
Hall hire	0	-	0	31992
Social care costs	161	-	161	6356
Human resources	64602	-	64602	59249
Support & Governance costs	3089	-	3089	4223
	174347	-	174347	149815

Allocation of support & governance costs

The charity initially identifies the costs of its support functions. It then identifies those costs which relate to the governance function. Having identified its governance costs, the remaining support costs together with the governance costs allocated entirely to missionary work, being the charity's sole activity.

	Basis of	General	Governanc	Total	Total
			e
	allocation			*2023*	2022
	Basis	General	Governanc	*Total*	Total
			e
		£	£	£	£
General office expenses	Usage	102	56	158	180
Bank charges	Governance
Independent examiner's fees Legal & Professional	Governance Governance	- -	304 900 100	900 100	900 100
Depreciation	Usage	1627		1931	3043
Loss on asset disposal	Usage
		1729	1360	3089	4223

SDA Reform Movement Notes to the accounts continued for the year ended 31 December 2023

6. Tangible assets (analysis of opening & closing carrying amounts}

IT Motor equipment vehicle Cost or valuaton £ £ At beginning of the period 6145 7800 Additions 585 Disposals At end of the period 6730 7800 Depreciaton and impairments At beginning of the period 4298 4500 Disposals Loss on disposal Depreciation 803 825 At end of the period 5101 5325 Net book value At the beginning of the period 1847 3300 - At the end of the period - 1629 2475	IT Motor equipment vehicle Cost or valuaton £ £ At beginning of the period 6145 7800 Additions 585 Disposals At end of the period 6730 7800 Depreciaton and impairments At beginning of the period 4298 4500 Disposals Loss on disposal Depreciation 803 825 At end of the period 5101 5325 Net book value At the beginning of the period 1847 3300 - At the end of the period - 1629 2475	Total £ 6780 7165 13945 5755 3043 8798 5 1 4 7 4104
	1629 2475

7. Debtors

Debtors
	2023	202
		2
	£
Prepayments		576
	£
	576

8. Creditors - amounts falling due within 1 year

Othercreditors Accruals	2023 2022 £ £ 100 100 1000 1000 1100 1100

SDA Reform Movement Notes to the accounts continued

for the year ended 31 December 2023

9. Movements in funds

Balances brought forward Income Unrestricted Funds £ General Restricted Funds 171012 171012	Balance s carried Expenditure Transfers forward £ £ £ £ 163603 16360 3 (174347) (174347) 160268 160268

1 0. Staf costs and numbers Staf costs were as follows: _Staff _salaries and related costs	2023 £ 64602 6460 2	2022 £ 59249
		59249

No employee received emoluments of more than £60,000. The average weekly number of employees during the year was 2 (2023) The persons employed were also trustees of the charity.

11. Analysis of net assets by fund

	Unrestricted	Restricted	Total
	funds	funds	funds
	£	£	£
Fixed assets	4104		4104
Net current assets	156163	-	156163
	160267	-	160267

1 2. Fees payable to independent examiner

During the period, the fees payable (excluding VAT) to the charity's independent examiner CASDon (Community Accountancy Services Doncaster) are analysed as follows:

2023 2022 £ £ Independent 900 000 examination Other 1 00 financial services 1

goo 100 1000 15

SDA Reform Movement Notes to the accounts continued for the year ended 31 December 2023

13. The Trustees' remuneraton, benefts and expenses

During the year the charity paid two of its trustees (ministers), Pr Dorde Bosanac, and Mr Cosmin Paulescu a total of £46,221.53, in wages and expenses incurred.

The minister is a trustee and receives his stipend as a minister. This is exceptionalised by the Charity Commission.

14. Related party transactons

There have been no related party transactions during the period under review.

15. Share Capital

The company is registered as a company limited by guarantee and has no share capital. The current members are guarantors in the sum of £1 each.