2024-12-31-accounts - Sda Reform Movement

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COMPANY REGISTRATION NUMBER 08432952

SDA REFORM MOVEMENT COMPANY LIMITED BY GUARANTEE TRUSTEES' REPORT AND FINANCIAL STATEMENTS

31 DECEMBER 2024

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 2024

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

SDA Reform Movement Trustees' annual report for the year ended 31 December 2024

The trustees, also directors of the charity for the Companies Act, submit their annual report and financial statements for the year ended 31 December 2024. 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 01/12/2024) Secretary : Nelia Lovro Santiago dos Prazeres (from 17/12/2022 to 1/12/2024) Abigaela-Aurelia Buftea (from 1/12/2024) Treasurer:

Mr. Heider Souza Dos Praz eres (from 01/12/2024) Mr. Lino Honor (17/12/2022 to 1/12/2024) Mr. Gheorghe-Cosmin Paulescu (From 29/5/2023) Mr. Marcelo Leandro Cruz Barbosa (from 1/12/2024) Mr. Dorde Bosanac (26/3/2019 to 31/12/2024)

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 4 of the Charities Act 2006[in][fulfilling] their duty to have due regard to the public benefit guidance published by the Charity Commission.

SDA Reform Movement Trustees' annual report for the year ended 31 December 2024

ce and Mana

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 appointed 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 implemented controls to mitigate those risks.

The Trustees regularly review and monitor operational controls to identify areas for improvement.

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 the 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 2024

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.) January 2024 Health Missionary Project of the SDA reform in Barhead.
2.) February 2024 Health Missionary Project in London, SDARM church.
3.) February 2024 Online Courses of Theology with members and friends of the church, SDA Reform Movement.
4.) 19-20 April 2024 Glasgow Conference.
5.) 18[th] May 2024 Walsall Church Conference and missionary trip to Chester and Conwy.
6.) 7-9 June 2024 Women’s Seminar.
7.) 22[nd] September 2024 Annual London Church Conference.
8.) 15[th] September 2024 Family Seminar.
9.) 28[th] December 2024 Winter Music Concert in Doncaster.
10.) 2024 Youth Meetings across the country during the year in Doncaster, London and Birmingham.

SDA Reform Movement Trustees' Annual Report for the year ended 31 December 2024

FINANCIAL REVIEW

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

The charity generated income totalling £142,681 (2023: £163,603) in the year under review, the principal source of which is derived from individual donations.

Expenses for the year totalled £147,426 {2023: £174,347}, r e s u l t i n g in a deficit of £4,745 {2023: £10,744} for the year.

As of the year-end date, general reserves stood at £155,522 (2023: £160,268).

Reserves Policy

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

SMALL COMPANY EXEMPTION

This report has been prepared in accordance with the special provision 9 of Part Section 15 of the Companies Act 2006 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 unless it is inappropriate to presume that the company will continue in business.

SDA Reform Movement Trustees' Annual Report for the year ended 31 December 2024

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 complies 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 steps 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 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

Mr Lino Honor -Trustee/Director Dated:

19/11/2025

Independent examiner's report to the trustees of SDA Reform Movement for the year ended 31 December 2024

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.

Dated:19/11/2025

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 2024

	Unrestricted	Unrestricted	Restricted	Total	Total
		Funds	Funds Funds	*2024*	2023
	Note	£	£	£
Income (and endowments) from:
Donations and legacies	2	142,681		142,681	163603
Investments	3
			-
Totalincome		142,681		142,681	163603
Expenditure on:
Charitableactivities	4	147,426	-	147,426	174347
Total expenditure		147,426	-	147,426	174347
Net income/(expenditure)		(4,745)		(4,745)	(4,745)(10744)
Transfers between funds
Net movement infunds		(4,745)	-	(4,745)	(10744)
Reconciliation of funds	9,11
Total funds brought forward		160,267		160,267	171012
Total funds carried forward		155,522	-	155,522	160268

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 2024

Company Number: 08432952

			*2024*		2023
	Note	£	£		£
Fixed assets
TangibleAssets	6	4,841		4,104
Total fixed assets			4,841		4,104
Current assets
Debtors	7	576		576
Cash at bank and in hand		153,067		156,687
Total current assets		153643		157,263
Liabilities
Creditors:
amounts falling due within one year	8	(2962)		(1100)
Net current assets			150,681		156,163
Total net assets			155,222		160,267
			———
The funds of the charity	9,11
Unrestricted income funds
Designated
General			155,222		160,267
			155,222		160,267
Restricted income funds
Total charity funds			155,222		160,267

For the period ending 31 December 2024, the company was entitled to an 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 19[th] November 2025 and signed its behalf:

Signed Dated 19/11/2025 ———EE Mr Lino Honor, Chairman/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 2024

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 1st 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 recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.

Income

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

Income from grants, whether 'capital' or 'revenue' grants, is recognised 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 finalised 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 2024

1. Accounting policies - continued

Fund accounting

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 fixed 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 2024

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	Restricted	Total	*2024*
	funds		funds	funds	Total
	£		£	£	£
Donations and gifts from individuals	142,681			142,681	163603
	142,681 eo	—		142681	163603 ——
				———
Investmentincome
	Unrestricted Restricted	Unrestricted Restricted		Total	2024
	funds		funds	funds	Total
	£		£	£	£
Bank Interest	~~SSUES~~ ~~pee~~		.	SS

3. Investment income

SDA Reform Movement Notes to the accounts continued for the year ended 31 December 2024

4. Analysis of expenditure on charitable activities

	Unrestricted	Restricted	Total
	funds	funds	funds
			2024	2023
Direct costs of Missionary	£	£	£	£
Bibles, courses, conference & meeting costs
Fieldexpenditure	51,964	-	51,964	55689
General council costs	17,255	-	17255	50806
Hall hire	23,791	-	23791	0
Social care costs	3,512	- -	3512	161
Human resources	48,219		48219	64602
Support & Governance costs	2,685	_- _	2685	3089
	147,426	-	147426	174347

5. 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	Governance	Total	Total
	allocation			_2024 _	2023
	Basis	General	Governance	*Total*	Total
		£	£	£	£
General office expenses	Usage	335	350	158	158
Bank charges	Governance
Independent examiner's fees	Governance	-	830	900	900
Legal & Professional	Governance	-	0	100	100
Depreciation	Usage	866	304	1931	1931
Loss on asset disposal	Usage
		1201	1484	2685	3089

SDA Reform Movement Notes to the accounts continued for the year ended 31 December 2024

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

	IT	Motor
	equipment	vehicle	Total
Cost or valuation	£
		£	£
At beginning of the period	6730	7800	14530
Additions	Additions1901		1901
Disposals
At end of the period	8631 ——	7800	16431
Depreciation and impairments
At beginning of the period	5101	5325	10426
Disposals
Loss on disposal		-	-
Depreciation	545	619	1164
At end of the period	5646 jg	5944	11590
	ee
Netbook value			4104
At the beginning of the period	1629 2475- SS		4841
A tthe end of the period	2985	1856

7. Debtors

Debtors
	2024	2023
	£	£
Prepayments	576	576
Other debtors and accrued income
	576	576

8. Creditors - amounts falling due within 1 year

	*2024*	2023
	£	£
Other creditors	1362	100
Accruals	1600	1000
	2962	1100

SDA Reform Movement Notes to the accounts continued for the year ended 31 December 2024

9. Movements in funds

9. Movements in funds
	Balances					Balances
	brought					carried
	forward	Income	Expenditure Transfers		Expenditure Transfers	forward
	£	£		£	£	£
Unrestricted Funds
General	160267	142681		(147426)		155522
	160267 ~~—~~ ~~e~~n	142681	(147426) ee -		-	155522 ~~—~~ —
Restricted Funds	eee
	eee					eee
	-	-		-	-	7
	eee				ee
1 0. Staff costs and numbers
Staff costs were as follows:
		2024		2023
		£		£
_Staff _salaries and related costs		45600		64602
		45600		64602

1 0. Staff costs and numbers

Staff costs were as follows:

No employee received emoluments of more than £60,000. The average weekly number of employees during the year was 2 (2024) The people employed were also trustees of the charity.

11. Analysis of net assets by fund

	Unrestricted Restricted	Unrestricted Restricted	Total
	funds	funds	funds
	£	£	£
Fixed assets	4841		4841
Net current assets	150681 155522	- - ——	150681 155522 —

1 2. Fees payable to independent examiner

During the period, the fees payable (excluding VAT) to the charity's independent examiner Sri Satkunasingham (Archie Associates) are analysed as follows:

		*2024*	2023
		£	£
Independent examination Other financial services	_——	500 0 500	900 100 1000 —————

SDA Reform Movement Notes to the accounts continued for the year ended 31 December 2024

13. The Trustees' remuneration, benefits and expenses

During the year the charity paid two of its trustees (ministers), Pr Dorde Bosanac, and Mr Cosmin Paulescu a total of £45600, 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 transactions

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.