## **THE OVERCOMERS CHRISTIAN FELLOWSHIP INTERNATIONAL PLYMOUTH** _**(A company limited by guarantee)**_ # **REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st DECEMBER 2022** **Charity Number: 1162595** **Company Number: 08008590** Accountancy Aid 26 Cherry Orchard Road Bromley, Kent, BR2 8NE 020 8462 5832 ## **THE OVERCOMERS CHRISTIAN FELLOWSHIP INTERNATIONAL PLYMOUTH** **FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[st] DECEMBER 2022** |**Contents**|**Pages**| |---|---| |Legal and administrative information|| |Report of the trustees|1-5| |Statement of Financial Activities|6| |Balance Sheet|7| |Notes forming part of the financial statements|8-10| |Report of the independent examiner|11| # **THE OVERCOMERS CHRISTIAN FELLOWSHIP INTERNATIONAL PLYMOUTH** ## **LEGAL AND ADMINISTRATIVE INFORMATION** **Trustees at 31[st] December 2022** Rev Michael Ileladewa Rev Christianah Ileladewa Rev Sunny Oginni Deacon Michael Alade Deacon Sanya Osisanya _The Trustees have served throughout the year_ ## **Charity office** 17 Charlton Road Crownhill Plymouth PL6 5EG ## **Independent Examiner** Roger Storey FCMA 26 Cherry Orchard Road Bromley, Kent BR2 8NE 1 ## **THE OVERCOMERS CHRISTIAN FELLOWSHIP INTERNATIONAL PLYMOUTH** ## **REPORT OF THE TRUSTEES** The trustees are pleased to present their annual directors’ report together with the financial statements of the charity for the year ending 31[st] December 2022 which are also prepared to meet the requirements for a directors’ report and accounts for Companies Act purposes. The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association and 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 (FRS102) (effective 1 January 2015). ## **TRUSTEES** Appointment of trustees is governed by the Trust Deed of the charity. The Board of Trustees is authorised to appoint new trustees to fill vacancies arising through resignation or death of an existing trustee. New trustees undergo an orientation day to brief them on: their legal obligations under charity and company law, the Charity Commission guidance on public benefit, and inform them of the content of the Memorandum and Articles of Association, the committee and decision-making processes, the business plan and recent financial performance of the charity. During the induction day they meet key employees and other trustees. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** The Overcomers Christian Fellowship is a company limited by guarantee and governed by its memorandum and articles of association dated 27[th] March 2012 as amended by special resolutions dated 29[th] March 2015 as amended on 12[th] July 2020. It is registered as a charity with the Charity Commission. The charity has Committees, which meet periodically and which are responsible for the strategic direction and policy of the charity. 2 # **THE OVERCOMERS CHRISTIAN FELLOWSHIP INTERNATIONAL PLYMOUTH** ## **REPORT OF THE TRUSTEES - continued** ## **RISK REVIEW** The trustees conduct periodic reviews of the major risks to which the charity is exposed and systems and procedures to manage those risks identified are implemented so as to minimise any potential impact on the charity should any of those risks materialise. ## **RESERVES POLICY** The trustees consider the current level of reserves is sufficient to cover eventualities as they arise. ## **PUBLIC BENEFIT** The charity acknowledges its requirement to demonstrate clearly that it must have charitable purposes or 'aims' that are for the public benefit. 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. ## **PRINCIPAL OBJECTIVES AND ACTIVITIES** The objects of the charity are set out in the constitution as follows: To advance the Christian religion by preaching and teaching Christianity, spreading the gospel of Christ, teaching Christianity to children, reaching out to the poor and elderly of the community, counselling and providing assistance for those in need of counselling, and the advancement of education for Christian Ministry. ## **ACHIEVEMENTS AND PERFORMANCE** Glory, honour and majesty be to our covenant-keeping God who did declare Year 2022 as our “Year of Reaping Great Harvests” (Lev.26:10). The awesome testimonies from members and the members from the community added to the Church demonstrated the actualization of this theme of the year. The efforts of all volunteers, the ministers and all the members deeply appreciated by the Pastorate on behalf of the Trustees of this Church of our great and living God. God of heaven and the earth would reward you abundantly in Jesus name. 3 ## **THE OVERCOMERS CHRISTIAN FELLOWSHIP INTERNATIONAL PLYMOUTH** ## **REPORT OF THE TRUSTEES - continued** The AGM, Convention, Women’s conference and various scheduled programmes witnessed outpouring of blessings both spiritual and physical; not only on the members of the Church but the community members as well. The Church was able to organise Project Management Training for members which was carried out by a reputable consultancy firm. The members benefited immensely from this training which actually enhanced their professional careers. The Church during the year under review was able to assist the new students to settle well into the community by offering welfare services in the form of food items donations, and signposting them to the estate agents for those with accommodation issues. Food donations also given to the needy members. The Pastorate offered members both pre-marital and spiritual counselling on various issues of life affecting members with great benefits to the members, and the community members at large. Annual donations of food items, cereals, toiletries and other essential items donated by members were given to “Shekinah Mission” in meeting our commitments in caring for the homeless people in our community; which was deeply appreciated by “Shekinah Mission” especially during this challenging but unpredictable socio-economic period. Representative from the Pastorate attended the Leader’s Annual Conference organised by Churches Together in Plymouth (CTiP) as part of our wider community participation with other faith members. The yearly running of 40 days fasting, and prayer period was observed by the members, especially with intensified prayers for our leaders at both local and national levels; and our nation United Kingdom in general. The Annual Carol Night service was staged at Plymouth University community and was well attended by both members and the community members as well. The “Cross Over” Service was also a great success as well. Another notable event during the year under review was the commencement of the construction of our gallery to accommodate more members as a result of the “great harvest” of the souls added to the Church. The commencement of the construction of this Mezzanine floor; was possible as a result of various fund raising activities by the Church with grants from Benefact Trust. 4 ## **THE OVERCOMERS CHRISTIAN FELLOWSHIP INTERNATIONAL PLYMOUTH** ## **REPORT OF THE TRUSTEES - continued** The year 2023 has been declared by God as our “Year of Divine Restoration and Rejoicing (Psalm 126:1-3)”. The covenant-keeping God have started manifesting this theme even before entering year 2023 as we ended the year 2022 with a bouncing baby girl into our family of “More than Conquerors”! Every blessing. Pastor Mike Ileladewa. Chairman – Board of Trustees. 5 ## **THE OVERCOMERS CHRISTIAN FELLOWSHIP INTERNATIONAL PLYMOUTH** ## **REPORT OF THE TRUSTEES - continued** ## **FINANCIAL REVIEW** Total income in the year was £160,395 (2021 - £77,044) and expenditures £117,622 (2021 - £76,305) giving a surplus of £42,773 for the year (2021 surplus £738). ## **STATEMENT OF TRUSTEES’ RESPONSIBILITIES** The trustees (who are also directors of The Overcomers Christian Fellowship International Plymouth for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England and Wales (the Charities Act 2011) requires the trustees to prepare financial statements for each financial year which give a true and fair view of the charity’s financial activities during the year and of its financial position at the end of the year. 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 have been followed, subject to any material departures disclosed and explained in the financial statements - Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in the business. The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable it to ensure that the financial statements comply with the Companies Act 2006.They are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities. ## **Approval** This report was approved by the trustees on 15[th] March 2023 And signed on their behalf. _Pastor Michael Ileladewa_ Trustee 6 # **THE OVERCOMERS CHRISTIAN FELLOWSHIP INTERNATIONAL PLYMOUTH** ## **YEAR ENDED 31[ST] DECEMBER 2022** |Notes
**INCOMING RESOURCES**
Tithes and offerings received
Gift aid reclaimable
Grants
Bank interest received
**Total incoming resources**
**RESOURCES EXPENDED**
Church expenditure
2
Management and administration
2
**Total resources expended**
**Surplus for the year**
**NET MOVEMENT IN FUNDS FOR THE YEAR**
Total funds bought forward – unrestricted
**Total funds carried forward - unrestricted**|2022
2021
**£**
**£**
119,227
63,677
31,135
13,366
10,000
0
33
1| |---|---| ||**160,395**
**77,044**| ||115,968
75,056
1,654
1,250| ||**117,622**
**76,306**| ||| ||**42,773**
**738**| ||180,590
179,852| ||**223,364**
**180,590**| The notes form part of these financial statements 7 ## **THE OVERCOMERS CHRISTIAN FELLOWSHIP INTERNATIONAL PLYMOUTH** ## **BALANCE SHEET AT 31[ST] DECEMBER 2022** |Notes
**Fixed assets**
Land and property
Gallery renovation
3
**Current assets**
Debtors
Cash at bank and in hand
Epworth investment
**Creditors: amounts falling**
**due within one year**
4
**Net current assets**
**Total assets less current liabilities**
**Creditors: amounts falling**
**due after more than one year**
4
**NET ASSETS**
**Funds**
Unrestricted funds bought forward
Surplus for the year
**Unrestricted funds carried forward**|2022
£
152,871
44,000
196,871
31,135
5,294
3,000
39,429
3,386
36,044
**232,915**
9,550
**223,364**
180,590
42,773
**223,364**|2021
£
152,871
0| |---|---|---| |||152,871| |||13,366
12,603
3,000| |||28,969
1,250| |||27,719| |||| |||**180,590**| |||0| |||**180,590**| |||179,852
738| |||**180,590**| For the period ended 31[st] December 2022 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476. The directors acknowledge their responsibilities for complying with the requirements of the Act with the respect of accounting records and the preparations of accounts. These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime. The notes to the accounts form part of these financial statements These financial statements were approved by the Trustees on 15[th] March 2023 and are signed on their behalf by: ## _Pastor Michael Ileladewa_ __________________________________ Trustee 8 # **THE OVERCOMERS CHRISTIAN FELLOWSHIP INTERNATIONAL PLYMOUTH** ## **NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31[ST] DECEMBER 2022** ## **1 Accounting policies** ## Basis of preparation of Financial Statements The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 January 2015)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention. ## Recognition of Incoming Resources Income from donations is included in incoming resources when these are receivable, except as follows: - I. When donors specify they must be used in future accounting periods, the income is deferred until those periods; - II. When donors impose conditions to be fulfilled before the church becomes entitled to use such income, the income is deferred until the pre-conditions have been met. ## Resources expended Resources expended are recognised in the period in which they are incurred. Resources expended include attributable VAT which cannot be recovered. ## Tangible assets and depreciation Tangible fixed assets are stated at cost less depreciation. Depreciation is provided so as to write off the cost of an asset, less any estimated residual value, over the useful life of that asset as follows: Music equipment 20% straight line method; Buildings 0% ## Unrestricted funds Unrestricted funds can be used in accordance with the charitable objects at the discretion of the Trustees Restricted funds are for future expenditure on a building suitable for the activities of the church. 9 ## **THE OVERCOMERS CHRISTIAN FELLOWSHIP INTERNATIONAL PLYMOUTH** ## **NOTES TO THE FINANCIAL STATEMENTS – continued** |**2**
**Charitable expenditure**
Pastor’s stipend
Insurance
Salaries
HMRC JRS Grant
Repairs and Renewals
Donations, subscriptions and gifts
Telephone
Printing post and stationery
Van expenses
Website and computer costs
Professional fees
Travel
Bank charges
Other direct charitable expenses
Pension payments
Accountancy fees
Independent examiner’s fees
Entertainment|2022
2021
£
£
14,750
15,000
764
754
71,851
48,263
0
-24,626
3,688
7,537
3,841
3,768
1,210
316
387
156
0
519
440
4,931
1,809
543
364
883
220
17
11,423
15,125
1,654
1,245
3,204
1,575
0
300
2,017
-| |---|---| ||**117,622**
**76,306**| 10 # **THE OVERCOMERS CHRISTIAN FELLOWSHIP INTERNATIONAL PLYMOUTH** ## **NOTES TO THE FINANCIAL STATEMENTS – continued** ## **3 Tangible fixed assets** |**COST**
At 1stJanuary 2022
Additions
At 31stDecember 2022
**DEPRECIATION**
At 1stJanuary 2022
Charge for year
At 31stDecember 2022
**NET BOOK VALUE**
At 31stDecember 2022
At 31stDecember 2021|Gallery
Renovation
Building
Total
£
£
£
0
152,871
152,871
44,000
0
44,000| |---|---| ||44,000
152,871
196,871| ||0
0
0
0
0
0| ||0
0
0| ||| ||44,000
152,871
196,871| ||0
152,871
152,871| **4 Creditors** : amounts falling due within one year |||2022|2021| |---|---|---|---| |||£|£| ||Sundry creditor|2,572|1,250| ||PAYE due|814|0| |||3,386|1,250| |**4**|**Creditors**: amounts falling due|after more than one year|| |||2022|2021| |||£|£| ||Loans|9,550|0| 5 Average number of persons employed by the company during the year was 4 (2021: 4) 11 # **INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF THE OVERCOMERS CHRISTIAN FELLOWSHIP INTERNATIONAL PLYMOUTH** I report to the trustees on my examination of the accounts of the charity (charity number 1162595) for the year ended 31st December 2022. ## RESPONSIBILITIES AND BASIS OF REPORT I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 31[st ] December 2022. As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”). I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. ## BASIS OF THE INDEPENDENT EXAMINER’S STATEMENT I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect: - the accounting records were not kept in accordance with section 130 of the Charities Act; or - the accounts did not accord with the accounting records; or - the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. ## _Roger Storey_ Roger P B Storey – Chartered Management Accountant 26 Cherry Orchard Road, Bromley, Kent, BR2 8NE Date: 15[th] March 2023