CHRIST FOUNDATION MINISTRIES
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31[st] JANUARY 2023
CHARITY NUMBER: 1129845
CHRIST FOUNDATION MINISTRIES
LEGAL & ADMINISTRATIVE DETAILS YEAR ENDED 31[ST] JANUARY 2023
ADDRESS FOR CORRESPONDENCE
45 JAMES HOUSE JODANE STREET LONDON SE8 3PW
REGISTERED CHARITY NUMBER
1129845
GOVERNING DOCUMENT
TRUST DEED 15 JANUARY 2009
TRUSTEES/ DIRECTORS
Rev Elijah Kojo Sam Daniel Baffour -Awuah Felicia Sam Cynthia Adjei Alexander Justice Adjei Kwaku Boamah
PRINCIPAL BANKERS
HSBC Bank 512 Brixton Road London SW9 8ER
INDEPENDENT EXAMINER
FRESH FIRE ORGANISATION GENERATOR BUSINESS CENTRE 95 MILES ROAD MITCHAM SURREY CR4 3FH
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CHRIST FOUNDATION MINISTRIES 45 JAMES HOUSE JODANE STREET LONDON SE8 3PW
INDEX Page Legal & Administrative Details 1 Index 2 Trustee’s Report 3 - 4 Independent Examiner’s Report 5 Statement of Financial Activities 6 Balance Sheet 7 Notes on the financial Statements 8 - 11
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CHRIST FOUNDATION MINISTRIES
TRUSTEES’ REPORT YEAR ENDED 31[ST] JANUARY 2023
The trustees are pleased to present their report for the year ended 31[st] January 2023 for the charity, Christ Foundation Ministries with charity number 1129845.
The Trustees of the charity are: Rev Elijah Kojo Sam Daniel Baffour - Awuah Felicia Sam, Cynthia Adjei Alexander Justice Adjei, Kwaku Boamah
The principal address of the charity is : 45 Jodane Street
London
SE8 3PW
STRUCTURE, GOVERNANCE AND MANAGEMENT
The Charity governing document is a Trust Deed made on 15[th] January 2009.The Charity is governed by a board on which the trustees are represented. It meets regularly to review, plan activities and monitor the financial position.
OBJECTIVES AND ACTIVITIES
The Objects of the organisation is TO ADVANCE THE CHRISTIAN FATH IN ACCORDANCE WITH THE STATEMENT OF BELIEFS, IN SUCH WAYS AND IN SUCH PARTS OF THE UNITED KINGDOM OR THE WORLD AS THE TRUSTEES FROM TIME TO TIME MAY THINK FIT.
The trustees confirm that they have had due regard to the guidance issued by the Charity Commission on public benefit before deciding what activities the charity should undertake.
ACHIEVMENTS AND PERFORMANCE
The Organisation continues to hold successful meetings through the year in which individuals were equipped and educated on the principles and doctrines of the Christian faith. The organisation held several conferences during the year in which individuals came from all around the community to attend. This has produced good results in reaching and helping members of the community.
FINANCIAL REVIEW
The income of the charity is above £14,100 and was from donations received from members. The church managed its expenses well. The church is an ongoing concern. This year they had a reasonable surplus at the end of the financial year.
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RESERVE POLICY
It is the policy of the Charity to maintain unrestricted funds, which are the reserves of the charity at about 3 months of unrestricted expenditure .This provides sufficient funds to cover any emergency expenditures that may arise from time to time. The charity will seek to build up and maintain this level throughout the year.
RISK MANAGEMENT
The charity have assessed all the major risks to which the charity is exposed to, in particular those related to operations and finances of the charity, and are satisfied that systems are in place to mitigate exposure to major risks.
TRUSTEE RESPONSIBILITIES
Under the Charities Act 2011,the trustees are required to prepare a statement of accounts for each accounting year which gives a true and fair view of the state of the church. They are required to:
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Select suitable accounting policies and apply them consistently.
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Make judgements and estimates that are reasonable and prudent.
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State whether the applicable accounting standards have been followed.
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Prepare financial statements on an ongoing basis.
They are responsible for keeping proper records which disclose with reasonable accuracy the finances of the church at any time and to ensure that such accounts comply with the Charities Act 2011.They also have a responsibility to safeguard the assets of the church and to take reasonable steps to detect fraud or other irregularities.
Approved by the Trustees on 27[th] July 2023 and signed on their behalf by:
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Independent Examiner’s Report To the Trustees CHRIST FOUNDATION MINISTRIES
I report on the accounts of the church for the year ended 31[st ] January 2023 set out on the following pages which have been prepared on the basis of the accounting policies shown in the corresponding pages.
Respective responsibilities of trustees and examiner
The trustees of the church are responsible for the preparation of accounts: they consider that the audit requirement under section 144(2) of the Charities Act 2011 (the 2011 Act),does not apply. It is my responsibility to :
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Examine the accounts under section 145 of the 2011 Act.
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Follow the procedures laid down in the General Directions given by the Charity Commissioners made under section 145(5)(b) of the 2011 Act.
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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 Commissioners. An examination includes a review of the accounting records kept by the church 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 I do not express an audit opinion on the view given by the accounts.
Independent examiner’s statement
In the course of my examination, no matter has come to my attention;
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(1) which gives me reasonable cause to believe that, in any material aspect, the trustees have not met the requirements to ensure that:
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proper accounting records are kept( in accordance with section 130 of the 2011 Act
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accounts are prepared which agree with the accounting records and comply with the accounting requirements of the 2011 Act: or
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(2) to which , in my opinion , attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Chuks Ajuka BSc(Man), FICB PMDip FRESH FIRE ORGANISATION South Lodge Avenue New Horizon Centre Mitcham Surrey CR4 1LT
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CHRIST FOUNDATION MINISTRIES
Statement of Financial Activities for the year ended 31st January 2023
| Unrestricted | Total Funds | |||
|---|---|---|---|---|
| Funds | 2023 | 2022 | ||
| Incoming Resources from Note | £ | £ | ||
| generated funds | ||||
| Donations and Legacies | 2 | 14113 | 14113 | 6416 |
| Investment income | 3 | |||
| 14113 | 14113 | 6416 | ||
| Other Income | 0 | 0 | 0 | |
| Total Incoming | 14113 | 14113 | 6416 | |
| Resources | ||||
| Resources Expended | ||||
| Charitable activities in furtherance of | objectives | |||
| Charitable Activities | 6 | 19,993 | 28,993 | 8,737 |
| Other | 4 | 599 | 599 | 1315 |
| Total Resources | 20,592 | 29,592 | 10052 | |
| Expended | ||||
| Net movement in funds | -6,479 | -6,479 | -3,636 | |
| Reconciliation of Funds | ||||
| Total Funds brought forward | 9107 | 9107 | 12743 | |
| Total Funds carried forward | 2,628 | 2,628 | 9107 |
The above funds are all classed as to purpose All movements of funds and all recognised gains and losses are included above.
The notes on the accounts form part of these accounts.
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Balance Sheet as at 31st January 2023
| Note 2023 Fixed Assets £ Tangible fixed assets 5 1408 1408 Current Assets Cash at bank and 4252 in hand Debtors & prepayments 0 4252 Creditors:amounts falling due within one year Creditors & accruals 8 3032 Net Current Assets 1220 Net Assets 2628 Unrestricted Funds General Fund 2628 _ TOTAL FUNDS 2628 _ |
2022 £ 1760 |
|---|---|
| 1760 | |
| 19678 | |
| 19678 12331 7347 |
|
| 9107 9107 |
|
| 9107 |
For the year ended 31[st] January 2023 CHRIST FOUNDATION MINISTRIES - accounts shown above represent a true and fair view of the financial position of the charity
Approved by board of directors on 27th July 2023
And signed on their behalf by Mr Alexander Justice Adjei (Trustee)
Signature:________
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CHRIST FOUNDATION MINISTRIES
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31[ST] JANUARY 2023
1) Accounting Policies
1.1 Basis of Accounting
These accounts have been prepared under the historic cost convention with items Recognised at cost or transaction values otherwise stated in the relevant note(s) to These accounts. The accounts have been prepared in accordance with: The Statement of Recommended Practice: Accounting and Reporting by Charities Preparing their accounts in accordance with the Financial Reporting Standard Applicable in the UK and Republic of Ireland (FRS102) issued on 16 July 2014. 1.2 Going Concern: The accounts are prepared on a going concern basis.
1.3 The accounts present a true and fair view and no change have been made to the accounting policies adopted.
1.4 No changes to the accounting estimates have occurred in the reporting period
1.5 No material prior year error have been identified in the reporting period.
Recognition of Income
These are included in the Statement of Financial Activities (SOFA) when:
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The charity becomes entitled to resources;
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It is more likely than not that the trustees will receive the resources;
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The monetary value can be measured with sufficient reliability.
Grants and Donations
Grants and Donations are only included in the SOFA when the general income recognition criteria are met (5.10 to 512 FRS102 SORP)
.
Tax reclaim on donations and gifts
Gift Aid receivable is included in the income when there is a valid declaration from the donor. Any gift aid amount recovered on a donation is considered to be part of that gift and is treated in addition to the same fund as the initial donation unless the donor or the terms of the appeal have specified otherwise.
EXPENDITURE AND LIABILITIES
Liability Recognition
Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty.
Grants and Support Costs
Support costs have been allocated between the governance costs and other support. Governance costs comprise all costs involving public accountability of the charity and its compliance with regulation and good practice.
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CHRIST FOUNDATION MINISTRIES NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31[ST] JANUARY 2023
Creditors
The charity has creditors which are measured at settlement amounts less any trade discounts.
ASSETS
Tangible Fixed Assets for use by the charity
They are capitalised if they can be used for more than one year. They are valued at cost. The depreciation is calculated at 20% reducing balance method.
Debtors
Debtors are measured on initial recognition at settlement amount. Subsequently they are measured at cash.
.
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CHRIST FOUNDATION MINISTRIES Notes to the accounts for year ended 31st January 2023
2 Voluntary Income
| Voluntary Income | |||
|---|---|---|---|
| Unrestricted | Total fundsTotal funds | ||
| Funds | 2023 | 2022 | |
| Church collections | £ | £ | £ |
| Donations | 14112 | 14112 | 6416 |
| Total | 14112 | 14112 | 6416 |
3 Investment income
Unrestricted Total funds Funds £ 2022/£ Bank Interest 0 0
| **4 ** | Other | Amount 2023/£ | 2022/£ |
|---|---|---|---|
| Telephone & Internet | 0 | 0 | |
| Stationery & Printing | 0 | 107 | |
| Transport & Travel | 235 | 206 | |
| Media | 0 | 230 | |
| Refreshments | 12 | 83 | |
| Depreciation | 352 | 439 | |
| Professional fees | 0 | 250 | |
| Total | 599 | 1315 |
5 FIXED ASSETS
| Cost | Equipment | Fixtures | Total |
|---|---|---|---|
| 01/02/2022 | 5973 | 748 | 6721 |
| Additions | 0 | 0 | 0 |
| 31/01/2023 | 5973 | 748 | 6721 |
| Depreciation | |||
| 01/02/2022 | 4597 | 364 | 4961 |
| charge for yr | 275 | 77 | 352 |
| 31/01/2023 | 4872 | 441 | 5313 |
| NBV | |||
| 31/01/2023 | 1101 | 307 | 1408 |
| 31/01/2022 | 1376 | 384 | 1760 |
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CHRIST FOUNDATION MINISTRIES Notes to the accounts for year ended 31st JANUARY 2023
| **6 ** | Cost of Activities in furtherance | of Charity's Objectives | of Charity's Objectives |
|---|---|---|---|
| 2023/£ | 2022/£ | ||
| Pastor Expenses | 800 | 0 | |
| Rent & Rates | 4297 | 6350 | |
| Light & Heat | 0 | 0 | |
| Evangelism & Missions | 11000 | 0 | |
| Church Welfare | 0 | 900 | |
| Loan interest | 1327 | 0 | |
| Business Rates | 0 | 0 | |
| Card Services | 675 | 0 | |
| Accountant | 280 | 0 | |
| Storage costs | 1530 | 1471 | |
| Bank charges | 84 | 12 | |
| Admin | 0 | 4 |
Total 19993 8737
Trustee Remuneration
No trustees received any remuneration during the financial year
7 Creditors: amounts falling due within one year
| £ | £ | |||
|---|---|---|---|---|
| 2023 | 2022 | |||
| Creditors | 991 | 790 | ||
| Bank loan | 2041 | 11541 | ||
| Total | 3032 | 12331 |
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