Registered number: 09213121 Charity number: 1161558
SOWERS MINISTRIES INTERNATIONAL
UNAUDITED ACCOUNTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
Prepared By:
Swan Accounting Services Accounting & Business Consultancy FFOF25A CEME Innovation Centre Rainham RM13 8EU
SOWERS MINISTRIES INTERNATIONAL
FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023
TRUSTEES
Joceclyn Cheryl BOSSMAN Martin Akpor SOWAH
REGISTERED OFFICE
10 Celandine Close South Ockendon Essex RM15 6JA
COMPANY NUMBER
09213121 CHARITY NUMBER 1161558
ACCOUNTANTS
Swan Accounting Services Accounting & Business Consultancy FFOF25A CEME Innovation Centre Rainham RM13 8EU
page 1
SOWERS MINISTRIES INTERNATIONAL
ACCOUNTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
CONTENTS
| Page | |
|---|---|
| Report of the Trustees | 3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 |
| Notes to the Accounts | 6 to 9 |
| Detailed Statement of Financial Activities | 8 |
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SOWERS MINISTRIES INTERNATIONAL
TRUSTEES' REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2023
The trustees present their report and accounts for the year ended 30 September 2023
PRINCIPAL ACTIVITIES
The principal activity of the charity in the year under review was Activities of religious organisations .
STRUCTURE GOVERNANCE AND MANAGEMENT
The organization is a charitable company limited by guarantee, incorporated on 9 September 2014. The Memorandum of association establishes the objects and powers of the charitable company and is governed under its articles of Association.
The directors are responsible for the general control and management of the charity. The directors give their time freely and receive no remuneration or other financial benefits. The directors meet regularly and are responsible for taking decisions in relation to the smooth functioning of the charity. The directors have set up sub-committees to assist them oversee certain aspect of the charity's work.
The report was prepared in accordance with the special provisions within Part 15 of the Companies Act 2006. This report was approved by the Board of Trustees on 11 September 2024
Joceclyn Cheryl BOSSMAN
Trustee
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SOWERS MINISTRIES INTERNATIONAL
Statement of Financial Activities
for the year ended 30 September 2023
| Statement of Financial Activities for the year ended 30 September 2023 |
||||
|---|---|---|---|---|
| Income Income from generated funds Donations and legacies Total Income and endowments Expenses Costs of generating funds Expenditure on Raised funds Expenditure on Charitable activities Total Expenses Net gains on investments Net Income Gains/(losses) on revaluation of fixed assests Net movement in funds: Net income for the year Total funds brought forward Net funds carried forward |
Unrestric ted funds £ 42,924 42,924 - 15,129 15,129 27,795 27,795 5,546 33,341 |
Restricte d funds £ - - - - - - - - - |
2023 Total £ 42,924 42,924 - 15,129 15,129 27,795 27,795 5,546 33,341 |
2022 Total £ 21,354 |
| 21,354 | ||||
| 35,780 15,945 |
||||
| 51,725 | ||||
| (30,371) | ||||
| (30,371) 35,917 |
||||
| 5,546 |
This statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities
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SOWERS MINISTRIES INTERNATIONAL
BALANCE SHEET AT 30 SEPTEMBER 2023
| Notes CURRENT ASSETS Cash at bank and in hand CREDITORS: Amounts falling due within one year 3 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES CAPITAL AND RESERVES Unrestricted funds 5 General fund |
39,758 39,758 6,416 |
2023 £ 33,342 33,342 33,342 33,342 |
5,546 5,546 - |
2022 £ 5,546 |
|---|---|---|---|---|
| 5,546 | ||||
| 5,546 | ||||
| 5,546 |
For the year ending 30 September 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
Approved by the board of trustees on 11 September 2024 and signed on their behalf by
.............................
Joceclyn Cheryl BOSSMAN Trustee
.............................
Martin Akpor SOWAH Trustee
page 5
SOWERS MINISTRIES INTERNATIONAL
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
1. ACCOUNTING POLICIES
1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with FRS102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities.
1b. Incoming Resources
All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
1c. Resources Expended
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost 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 of resources.
1d. Allocation And Apportionment Of Costs
All costs relate to the single activity of the charitable company and are recognised accordingly.
1e. Fund Accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Designated funds are funds set aside by the trustees out of unrestricted general funds for the specific future purposes or projects.
2. EMPLOYEES
2023 2022 No. No. - - Average number of employees
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SOWERS MINISTRIES INTERNATIONAL
3. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Other creditors
| 2023 £ 6,416 6,416 |
2022 £ - |
|---|---|
| - |
4. LIMITED BY GUARANTEE
The company is limited by guarantee and does not have a share capital. Each member gives a guarantee to contribute a sum not exceeding £, to the company should it be wound up. At 30 September 2023 there were members.
5. UNRESTRICTED FUNDS
General fund
6. RESTRICTED FUNDS
| Brought forward £ 5,546 |
Incoming resource s £ 42,924 |
Outgoing resource s Transfers £ £ (15,128) - (15,128) - Outgoing resource s Transfers £ £ |
Outgoing resource s Transfers £ £ (15,128) - (15,128) - Outgoing resource s Transfers £ £ |
Carried forward £ 33,342 |
|---|---|---|---|---|
| 5,546 | 42,924 | - | 33,342 | |
| Brought forward £ |
Incoming resource s £ |
Carried forward £ |
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SOWERS MINISTRIES INTERNATIONAL
| Incoming Resources for the year ended 30 September 2023 Incoming resources Incoming resources from generated funds |
2023 £ 42,924 42,924 |
2022 £ |
|---|---|---|
| 21,354 | ||
| 21,354 |
page 8
SOWERS MINISTRIES INTERNATIONAL
Expenses
for the year ended 30 September 2023
| Expenses for the year ended 30 September 2023 |
||
|---|---|---|
| Expenses Costs of generating funds Fundraising Trading Costs Church Event 2022 Charitable Activities Insurance Rent Accountancy fees Professional fees Instrumentalist fees Refreshment and church Up keep Stationery & office supplies Telephone Global payment-Card charges Bank charges Interest on loans repayable within 5 years |
2023 £ - - - 360 4,582 1,250 - 5,600 643 1,154 419 965 156 - 15,129 15,129 |
2022 £ 35,780 |
| 35,780 | ||
| 35,780 | ||
| 345 7,069 500 150 4,950 - 346 301 1,131 - 1,153 |
||
| 15,945 | ||
| 51,725 |
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