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2024-03-31-accounts

HAVEN OF GLORY INTERNATIONAL MINISTRIES (Charity Incorporated Organisaton)

Trustee’s Annual Report and financial statements for the year ended 31 March 2024

Charity number: 1162748

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HAVEN OF GLORY INTERNATIONAL MINISTRIES (Charity Incorporated Organisaton) 31 March 2024

Content Page Trustee’s Report………………………………………………………………….……….3 Independent Examiner’s report……………………………………………………9 Statement of Financial Activities…………………………………………………10 Balance Sheet …………………………………………………………………………….11 Notes on the financial Statements………………………………………………12

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HAVEN OF GLORY INTERNATIONAL MINISTRIES (Charity Incorporated Organisaton) Report of the Trustees for the year ended 31 March 2024

The trustees present their annual report and audited financial statements for the year ended 31 March 2024 and confirm they comply with the Charities Act 2006, and the Charities SORP 2015.

Reference and administrative details of the charity, its trustees, and advisers for the year ended 31 March 2024.

Registered office/ Correspondence Address 7 Tangmere way London NW9 5WV

Trustees:

Mr Olubukola Adeosun Mrs Olukemi Adeosun Mrs Folasade Ojumu Mrs Olubukola Lucas Mr Adewale Oyekan Mr Greenford Kambimbi

Bankers: Metro Bank Barclays bank

Independent Examiner: Mr A Ajayi-Obe 10 Denham Grove Bracknell RG12 7PT

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HAVEN OF GLORY INTERNATIONAL MINISTRIES (Charity Incorporated Organisaton) Report of the Trustees for the year ended 31 March 2024(Cont.)

Structure, governance and management

Governing document

The charitable company is constituted under a Memorandum of Association dated 1[st] April 2014 as a registered charity limited by guarantee but converted to a Charity Incorporated Company (CIO) on 25 September 2019.

Organisational structure

The charity trustees are responsible for the general control and management of the charity. The trustees give their time freely and receive no remuneration or other financial benefits.

The trustees meet as a body at least twice a year and are responsible for all decisions taken in relation to running the church and the activities provided by the charity.

Recruitment and appointment of trustees

The existing trustees are responsible for the recruitment of new trustees but in so doing the trustees seek the views and recommendations of members. The trustees believe this approach ensures that new trustees are respected members of the faith and ensures that good relations are fostered between the trustees, members and the community that we serve.

In selecting new trustees, we seek to identify people who regularly attend events and functions organised by the charity and are willing to volunteer to help in our broader community work. Potential trustees are invited to attend trustees’ meetings as observers and are given more details of the charity’s aims and activities and, if all agree, they are then proposed as new trustees at the subsequent trustees’ meeting.

This process allows due consideration of the person's eligibility, personal competence, specialist knowledge, and skills. No new Trustee was recruited during the year.

Inducton and training of trustees

Following the appointment, new trustees are introduced to their new roles and given copies of the articles and a guide to the policies and procedures adopted by our charity. A number of publications from the Charity Commission are also provided including the guidance on charities and public benefit and on the advancement of religion for the public benefit. This ensures that new trustees are aware of the scope of their responsibilities under the Charities Act. Initially, new trustees work with an existing trustee assisting on particular activities and projects run by the charity. There will be training for trustees on health and safety and safeguarding.

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HAVEN OF GLORY INTERNATIONAL MINISTRIES (Charity Incorporated Organisaton) Report of the Trustees for the year ended 31 March 2024.

Risk management

The trustees have assessed the risks the charity faces and have drawn up a risk matrix which identifies the major risks by area of activity, the nature of those risks, the likelihood of the risks happening, and the measures taken to manage them. The trustees review this risk matrix regularly at their meetings. The trustees are satisfied that systems are in place, or arrangements are in hand, to manage the risks that have been identified. In particular, insurance cover is in place and the finances of the church are kept under review. Appropriate DBS checks, supported by regularly reviewed policies, are made for all those who work with children or other vulnerable groups within the church.

Objectives and activities

Our aims

The objects of the charity are set out in the charity’s Articles of association and are summarised as follows:

To advance the Christian faith in Luton, London and Nigeria for the benefit of the public in particular through the holding of prayer meetings, worship services, lectures, the public celebration of religious festivals and the distribution of literature on the Christian faith to enlighten others.

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Our objectves

Our objectives are set to reflect our faith and community aims. Each year our trustees review our objectives and activities to ensure they continue to reflect our aims. In carrying out this review the trustees have considered the Charity Commission’s general guidance on public benefit and in particular its supplementary public guidance on the advancement of religion for the public benefit.

Our dual aims remain to provide a facility where Christians can worship and to provide a community facility for all the inhabitants of Luton and London. Our vision is to develop the human spirit, soul, and body. We hope to build a community of Christians who have a personal relationship with God.

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HAVEN OF GLORY INTERNATIONAL MINISTRIES (Charity Incorporated Organisaton) Report of the Trustees for the year ended 31 March 2024(Cont.)

Strategies

We want to make our church an accessible and welcoming venue where all Christians or those who wish to know more about our faith, can gather to learn about our religion and worship. At our ‘Christian events we share the teachings of Jesus and the nature of our faith with non-Christians. In addition to an open day, we also hold an open week each year when we invite congregations from all the local Christian churches to visit us and learn more about Christianity.

An important part of our faith is charitable giving, according to one’s income, in accordance with biblical principle and we are pleased to receive special donations for the sole purpose of the relief of need and financial hardship of Christians in United Kingdom, Nigeria and Zimbabwe who have insufficient money to cover their basic needs for shelter, food, clothing, or who are destitute with no means of support.

An important part of our strategy is community welfare and education. Our activities including classes, health initiatives and seminars are widely advertised, and we welcome the participation of all in our local community, Christian and non-Christian alike. Most of our activities are free and supported by donations.

We produce Christian literature and distribute it freely to people in Luton every Saturday. We send inspirational text messages called “Textword” to over 200 subscribers on daily basis. Many people have shared testimonies of how they have been greatly encouraged by the text messages. We maintain an online presence on Facebook and Youtube and also have a website -www.havenofglory.com.

We also hold regular prayer meetings (Tuesdays) and online Bible study every Friday. We hold daily Facebook live programme called “The Mirror of the Word-We read a chapter of the bible and pray for the sick. This programme reaches an average of over 200 people per day.

We organise spiritual counselling for our members and non-members needing Pastoral counselling. We provide support to travellers in Luton who are stranded. Our church has a programme to support people who need pastoral support. We operate a food bank from our church facility. Use of volunteers

Volunteers are an important resource in both our faith and community work. Volunteers are involved in most of our faith and community activities, and we have over 10 people regularly giving their time. All our trustees also give of their time freely. We encourage all members of our Church to be involved in voluntary activities and to share their skills with others. All those volunteers working with projects involving children or other vulnerable groups are DBS checked.

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HAVEN OF GLORY INTERNATIONAL MINISTRIES (Charity Incorporated Organisaton)

Report of the Trustees for the year ended 31 March 2024(Cont.) Activities and achievements

How our actvites deliver public beneft

The charity carries out a wide range of activities in pursuance of its charitable aims. The trustees consider that these activities, summarised below, provide benefit both to those who worship at our Church and the wider community of Luton. During the year we rented a permanent place for our activities.

Religious actvites

Our Church provides a centre for our prayers and worship and for the activities associated with our faith. During the year under review, we offered a range of religious services and activities including:

Prayers: The Church office is open two days a week (Fridays & Sundays) and online daily. Prayer and counselling are available 24/7.

Outreaches: This year we have produced and distributed over 10,000 copies of Christian literatures “I will have what I say”. The topic covered included.

We also sent text messages to over 250 individuals daily to encourage them.

We organise spiritual counselling (1:1) for people in need of pastoral counselling and support using biblical principles.

Care and support

During the financial year we continue to provide care and support to vulnerable people. We provided support to students too and immigrants to Luton who are homeless.

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HAVEN OF GLORY INTERNATIONAL MINISTRIES (Charity Incorporated Organisaton) Report of the Trustees for the year ended 31 March 2024(Cont.)

Financial review

Reserve’s policy

The trustees have reviewed the reserves of the charity. Their policy is to hold enough funds for permanent property purchase and to meet three months’ operating costs of the church, in calculating the charity’s reserves the trustees have deducted from the total of unrestricted funds of the charity the value of tangible fixed assets as shown in the account’s fund. This leaves £31,005 free reserves at 31[st] March 2024.

Our building has been put up for sale and we will be in search of new accommodation in the financial year.

Principal funding sources

The charity’s main source of income is giving. Giving at both Sunday worship and midweek service amounts to £17,971 and whilst this represents an increase from the previous year, given the economic conditions currently affecting our local community this level of voluntary giving is both generous and encouraging.

Investment policy and objectves

The charity has no long-term investments. Our cash reserves are held in deposit accounts.

Plans for future periods.

We are planning to purchase permanent place for all our activities as our finances improve. We are also going to invest in musical and audio-visual equipment. We will expand our food bank facilities to reach more people in Luton. We will ensure all our trustees have up to date training. We will continue to support our outreach programme. We also want to start a Christian library facility.

On behalf of the Board Pastor in charge: Olubukola Adeosun Date: 07/08/2024

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Independent examiner’s report to the trustees of Haven of Glory Internatonal Ministries.

Responsibilites and basis of report

I report to the trustees on my examination of the accounts of the above charity for the year ended 31/03/2024.

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 Charity’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.

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:

Name: Ayo Ajayi-Obe MA Address: 10 Denham Grove Bracknell RG12 7PT

Date & signed: 07/08/2024

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HAVEN OF GLORY INTERNATIONAL MINISTRIES (Charity Incorporated Organisaton) Statement of fnancial actvites for the year ended 31 March 2024.

2024 2023
Unrestricted Unrestricted
funds funds
**Notes ** £ £
Income 2 23,296 22,632
Expenditure
Charitable Actvites 3 17,651 15,765
Net income for the year 5,645 6,867
Reconciliaton of Funds:
Total Funds brought forward 25,360 18,493
Total Funds carried forward 31,005 25,360

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HAVEN OF GLORY INTERNATIONAL MINISTRIES

(Charity Incorporated Organisaton)

Balance sheet as at 31March 2024

2024 2024 2023 2023
Unrestricted Unrestricted Unrestricted Unrestricted
funds funds funds funds
Notes £ £ £ £
Fixed Assets
Tangible assets 4 314 1,487
Current assets
Cash at bank 5 31,241 24,423
Current assets
Amountng falling due within one
year 6 550 550
30,691 23,873
Net current assets 31,005 25,360
Net assets
Funds
Unrestricted funds:
General funds 7 31,005 25,360

Approved by the board of Trustees 07/08/24 on and signed on behalf by: Olubukola Adeosun

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HAVEN OF GLORY INTERNATIONAL MINISTRIES (Charity Incorporated Organisaton) Notes to the fnancial statements 31 March 2024(Cont.)

Note 1. Accountng Policies

a. Basis of preparaton

The accounts are prepared in accordance with the Charities Statement of Recommended Practice (Charities SORP 2015), FRS102 and with the Charities Act 2011 The church is a registered charity, no 1162748 and meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognized at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.

b. Income recogniton

All incoming resources are included in the Statement of Financial Activities when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably, and it is probable that the income will be received.

c. Donatons

Donations are accounted for gross when received. Fixed asset gifts in kind are recognized when receivable and are included at fair value.

d. Expenditure recogniton

All expenditure is accounted for on an accrual’s basis. Expenditure is recognized where there is a legal or constructive obligation to make payments to third parties, it is probable that settlement will be required, and the amount of the obligation can be measured reliably.

e. Costs of raising funds.

The Church does not make formal appeals for funds, and expenditure on these items are therefore not material.

f. Support costs

Support costs are those that assist the work of the church but do not directly represent charitable activities and include office costs and governance cost. Where support costs cannot be directly attributed to particular headings, they have been allocated to the cost of raising funds and expenditure on charitable activities on a basis consistent with the use of resources. This represents direct expenditure on the governance of the church. Most of the management is carried out without charge by volunteers. This intangible cost is not included in the Statement of Financial Activities since there is no measurable cost to the volunteers for their service.

g. Fixed Assets

Tangible fixed assets are capitalised if they can be used for more than one year and cost at least £500. They are initially recognised at cost, or for donated assets, at a reasonable estimate of their value on receipt.

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HAVEN OF GLORY INTERNATIONAL MINISTRIES (Charity Incorporated Organisaton) Notes to the fnancial statements 31 March 2024(Cont.)

h. Depreciaton

Depreciation is provided on all fixed assets, other than freehold land, to write off the cost on a straight-line basis over their expected useful life, at the following rates: Computers and equipment 25%.

i. Funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Funds 2024 2023
Unrestricted Unrestricted
Note 2. Income funds funds
£ £
Giving’s 17,971 18,567
Donaton 388 0
Tax refunds 4,588 4,016
Interest 349 49
Total 23,296 22,632

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HAVEN OF GLORY INTERNATIONAL MINISTRIES (Charity Incorporated Organisaton) Notes to the fnancial statements 31 March 2024(Cont.)

Note 3. Expenditure

Note 3. Expenditure
Charitable Actvites £ £
Care& support 2,133 2,527
Christan Literature 522 753
Donaton 745 443
Outreaches 1,879 1,005
Publicity 441 206
Training 2,831 2,712
Transportaton 285 172
Rent & rates 4,782 4,294
Total 13,618 12,112
Support cost for charitable actvites
Insurance 416 379
Administraton expenses
Telephone IT, & Internet 1,043 1,157
Statonery &Printng 392 0
Ofce expenses 149 264
Subscriptons 310 130
Depreciaton 1,173 1,173
Total 3,444 3,103
Governance costs:
Independent Examinatons costs 550 550
Grand total 17,651 15,765

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HAVEN OF GLORY INTERNATIONAL MINISTRIES (Charity Incorporate Organisaton) Notes to the fnancial statements 31 March 2024(Cont.)

Note4. Furniture &Equipment

Note4. Furniture &Equipment
Cost £
31/03/24 14,478
Depreciaton
01/04/24 12,991
Charge for the year 1,173
31/03/24 14,164
Net book value
31/03/24 314
31/03/23 1,487
Note 5: Current assets 2024 2023
Cash at bank: £ £
Current accounts 827 895
Reserve account 30,414 23,527
Total 31,241 24,423
Note 6: Creditors Amounts falling due
within one year
Accrual 550 550
01/04/2023 Incoming Outgoing 31/03/2024
Note 7: Movements in Funds resources resources
£ £ £ £
General funds 25,360 23,296 17,651 31,005

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