2024-02-29-accounts - The Father's House Church

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

THE FATHER'S HOUSE CHURCH

Charity No. 1165638

Company No.

Trustees' Report and Unaudited Accounts

29 February 2024

THE FATHER'S HOUSE CHURCH CONTENTS

	Pages
Trustees' Annual Report		1
Independent Examiner's Report		2
Statement of Financial Activities		3
Summary Income and Expenditure Account		5
Balance Sheet		7
Notes to the Accounts		9
Detailed Statement of Financial Activities		15

THE FATHER'S HOUSE CHURCH TRUSTEES ANNUAL REPORT

THE FATHER'S HOUSE CHURCH

The Trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the unaudited financial statements of the charity for the year ended 29 February 2024.

REFERENCE AND ADMINISTRATIVE DETAILS Company No. Charity No. 1165638

Registered Office

37 Hunters Road Chessington KT9 1RX

Directors and Trustees

The Directors of the charitable company are its Trustees for the purposes of charity law. The following Directors and Trustees served during the year:

J. BERNARDES PASQUALI NIELE GARCIA DE FREITAS PASTOR RONDINELLI FIDELIS Accountants

TRUE MANAGEMENT CONSULTING

C/O Tmc London Accountants, 17, Hanover Square, LONDON

W1S 1BN

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees 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.

The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP (FRS 102).

Signed on behalf of the board

JOAQUIM PASQUALI Trustee 29-Feb-24

Page 2

THE FATHER'S HOUSE CHURCH INDEPENDENT EXAMINERS REPORT

Independent Examiner's Report to the trustees of THE FATHER'S HOUSE CHURCH

I report on the accounts of THE FATHER'S HOUSE CHURCH for the year ended 29 February 2024 which comprise the Statement of Financial Activities, the Summary Income and Expenditure Account, the Balance Sheet, the Statement of Cash Flows and the related notes.

Respective responsibilities of trustees and examiner

The trustees (who are also directors of the charitable 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 the Charities Act 2011, s.144(2) (the 2011 Act) and that an independent examination is needed.

The charity's gross income exceeded £250,000 and I am qualified to undertake the examination.

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 s.145 of the 2011 Act;

to follow procedures laid down in the general Directions given by the Charity Commission under s.145(5)(b) of the 2011 Act; and

to state whether particular matters have come to my attention.

Basis of independent examiner's report

My examination was carried out in accordance with 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

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:

(1) which gives me reasonable cause to believe that in any material respect the requirements:

to keep accounting records in accordance with the Companies Act 2006, s.386 and

to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Charities Statement of Recommended Practice: Accounting and Reporting by Charities,

have not been met: or

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

TRUE MANAGEMENT CONSULTING

C/O Tmc London Accountants, 17, Hanover Square, London. W1S 1BN

29-Feb-24 Page 3

THE FATHER'S HOUSE CHURCH STATEMENT OF FINANCIAL ACTIVITIES for the year ended 29 February 2024

Notes Income and endowments from: Donations and legacies 3 Total Expenditure on: Raising funds 4 Other 5 Total Net gains on investments Net income 6 Net income before other gains/(losses) Other gains and losses: Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward Page 5	Unrestricted Unrestricted and total funds and total funds 2024 2023 £ £ 419,300 304,618 419,300 304,618 58,116 29,722 247,784 230,407 305,900 260,129 - - 113,400 44,489 113,400 44,489 384,716 340,227 498,116 384,716

THE FATHER'S HOUSE CHURCH

SUMMARY INCOME AND EXPENDITURE ACCOUNT

for the year ended 29 February 2024

Income Gross income for the year Expenditure Depreciation and charges for impairment of fixed assets Total expenditure for the year Net income before tax for the year Net income for the year Page 6	2024 2023 £ £ 419,300 304,618
	419,300 304,618
	305,900 258,128 4,892 2,001
	310,792 260,129
	108,508 44,489
	108,508 44,489

THE FATHER'S HOUSE CHURCH

BALANCE SHEET

at 29 February 2024

Company No. Notes Fixed assets Tangible assets 8 Current assets Debtors 9 Cash at bank and in hand Net current assets Total assets less current liabilities Net assets excluding pension asset or liability Total net assets The funds of the charity Restricted funds Unrestricted funds 10 General funds Reserves Total funds 10	2024 £ 14,676	2023 £ 8,005
	14,676 206,762 265,678	8,005 179,951 196,760
	472,440	376,711
	487,116 487,116	384,716 384,716
	487,116	384,716
	487,116	384,716
	498,116	384,716
	498,116	384,716
	498,116	384,716

These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

For the year ended 29 February 2024 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

Companies Act 2006 with respect to accounting records and the preparation of accounts. Approved by the board on 29 February 2024 and signed on its behalf by:

JOAQUIM PASQUALI Trustee 29 February 2024

Page 7

THE FATHER'S HOUSE CHURCH NOTES TO THE ACCOUNTS

for the year ended 29 February 2024

1 Accounting policies

Basis of preparation

The financial statements have been prepared in accordance with 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 if Ireland (FRS 102) - Charities SORP (FRS 102) (effective 1 January 2015) - the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Change in basis of accounting or to previous accounts

There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.

Fund accounting

Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.

Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values.

Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.

Income	Income is included in the Statement of Financial Activities (SoFA) when the charity becomes
Recognition of income	entitled to, and virtually certain to receive, the income and the amount of the income can be
	measured with sufficient reliability.

Income with related	Where income has related expenditure the income and related expenditure is
expenditure	reported gross in the SoFA.
Donations and	Voluntary income received by way of grants, donations and gifts is included in the
legacies	the SoFA when receivable and only when the Charity has unconditional entitlement to the
	income.
	Income from tax reclaims is included in the SoFA at the same time as the gift/donation to
Tax reclaims on donations	which it relates.
and gifts Donated services	These are only included in income (with an equivalent amount in expenditure) where the
and facilities	benefit to the Charity is reasonably quantifiable, measurable and material.

Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed assets at the end of the year. Gains/(losses) on investment assets

This includes any gain or loss on the sale of investments.

Page 9

THE FATHER'S HOUSE CHURCH NOTES TO THE ACCOUNTS Expenditure

Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which it relates. These comprise the costs associated with attracting voluntary income, fundraising trading costs and investment management costs. Expenditure on raising funds These comprise the costs incurred by the Charity in the delivery of its activities and services in Expenditure on charitable the furtherance of its objects, including the making of grants and governance costs. activities

Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.

Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.

Other expenditure These are support costs not allocated to a particular activity.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Freehold investment property

Investment properties are revalued annually and any surplus or deficit is dealt with throug the Statement of Financial Activities. No depreciation is provided in respect of investment properties.

This treatment conflicts with the requirements of the Companies Act 2006 that all properties should be depreciated. The directors consider that, because these properties are not held for consumption, but for their investment potential it is necessary to adopt the requirements of the FRSSE in order to give a true and fair view.

Intangible fixed assets and amortisation

Intangible fixed assets (including purchased goodwill, patents and trademarks) are carried at cost less accumulated amortisation and impairment losses.

Stocks

Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.

Trade and other debtors

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

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.

Page 10

THE FATHER'S HOUSE CHURCH

NOTES TO THE ACCOUNTS Trade and other creditors

Short term creditors are measured at the transaction price. Other creditors and provisions are recognised 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 recognised at their settlement amount after allowing for any trade discounts due.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period. Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred. All exchange differences are are taken into account in arriving at net income/expenditure.

Leased assets

Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.

Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases.

Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs.

Assets held under finance leases are depreciated in the same way as owned assets.

Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.

Pension costs

The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

2 Company status

The company is a private company limited by guarantee and consequently does not have share capital.

Page 11

THE FATHER'S HOUSE CHURCH NOTES TO THE ACCOUNTS

3 Income from donations and legacies

4 Expenditure on raising funds Fundraising trading costs 5 Other expenditure Employee costs Motor and travel costs Premises costs General administrative costs Legal and professional costs 6 Net income before transfers This is stated after charging: Depreciation of owned fixed assets 7 Staff costs No employee received emoluments in excess of £60,000.	Unrestricted Unrestricted 4,614 230,407 2023 £ 2,001 2024 £ 4,892 25,896 4,038 247,784 2023 £ 96,457 19,076 84,364 29,722 29,722 Unrestricted 304,618 £ £ Unrestricted £ 2023 Unrestricted 2024 £ 419,300 2023 419,300 2024 30,255 £ 108,645 21,067 83,779 58,116 58,116 Unrestricted 2024 304,618

Page 12

THE FATHER'S HOUSE CHURCH NOTES TO THE ACCOUNTS

2024 £ 29,761 11,562	2023 £ 29,761	At 29 February 2024 £ 493,224
41,323	29,761
21,756 4,891	19,254 2,502
26,647	21,756
14,676	8,005
8,005	10,507
2024 206,762	2023 £ 179,951
206,762	179,951
Incoming (including other gains/losses ) £ 419,300	Resources expended £ 310,792 -
419,300	310,792 -	493,224

THE FATHER'S HOUSE CHURCH

NOTES TO THE ACCOUNTS

12 Related party disclosures

Controlling party

The company is limited by guarantee and has no share capital; thus no single party controls the company.

Page 14

THE FATHER'S HOUSE CHURCH

DETAILED STATEMENT OF FINANCIAL ACTIVITIES

for the year ended 29 February 2024

Income and endowments from: Donations and legacies Total income and endowments Expenditure on: Costs of other trading activities Total of expenditure on raising Funds Employee costs Staff entertainment Staff Cost Motor and travel costs Travel and subsistence Premises costs General administrative costs, including depreciation and amortisation Depreciation of Bank charges Stationery and printing Sundry expenses Donation Telephone, fax and broadband Rates Temporary Staff Light, Heat & Energy Software Insurance Repair & maintenance Legal and professional costs Legal Accountancy and bookkeeping Total of expenditure of other costs Total expenditure Page 15 Rent Premises repairs and maintenance	Unrestricted and total funds 2024 £ 419,300 304,618 2023 £ Unrestricted and total funds	Unrestricted and total funds 2024 £ 419,300 304,618 2023 £ Unrestricted and total funds
	419,300	304,618
	58,116 419,300	29,722 304,618
	58,116 - 20,400	29,722 - 21,200
	20,400	21,200
	21,067	19,076 19,076 75,298 9,066 84,364 2,001 5,927 275 843 4,061 3,244 2,982 75,257 2,648 3,614 301 101,153 2,814 1,800 4,614 260,129 260,129
	21,067
	78,192 5,587
	83,779
	4,892 32 3,962 844 14,596 3,758 2,247 88,245 2,870 732 1,214
	123,392 2,238 1,800
	4,038
	310,792
	310,792

THE FATHER'S HOUSE CHURCH

DETAILED STATEMENT OF FINANCIAL ACTIVITIES

Net income	108,50844,489
Net income before other	108,508 44,489
gains/(losses)
Other Gains	- -
Net movement in funds	108,50844,489
Page 16