2025-04-30-accounts - Highly Favoured Ministries

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HIGHLY FAVOURED

MINISTRIES

Financial Accounts Trustees Report Year Ended 30th April 2025

Charity no. 1166169

HIGHLY FAVOURED MINISTRIES FINANCIAL STATEMENTS DIRECTORS AND TRUSTEES REPORT YEAR ENDED 30 APRIL 2025

ADDRESS TIMEBRIDGE COMMUNITY CENTRE FIELDWAY NEW ADDINGTON CROYDON SURREY CR0 9AZ

REGISTERED CHARITY NUMBER 1166169

CHARITY TRUSTEES

MR ISAAC ANOKYE AMOAH
MR BISMARK OBEN
MR KWADWO ADJEI AMPOMAH

BANKERS

Lloyds Bank plc 25 Gresham street London EC2V 7HN

ACCOUNTANT

Olu Olasode PhD, FCCA TL First 1 Copers Cope Road Beckenham Kent BR3 1NB

HIGHLY FAVOURED MINISTRIES FINANCIAL STATEMENTS DIRECTORS AND TRUSTEES REPORT YEAR ENDED 30 APRIL 2025

DIRECTORS’ AND TRUSTEES’ REPORT

TRUSTEES REPORT 2025

The Trustees are pleased to present their report and Highly Favoured Ministries financial statements for the year ended 30 April 2025. These comply with current statutory requirements and the Statement of Recommended Practice – Accounting and Reporting by Charities (SORP) 2015

Status

The Charity is constituted by a constitution and registered with the Charity Commissioners under charity number 1166169

Charitable Objects

The Objects of the Charity are the advancement of:

The Christian religion through but not exclusively the provision of services, religious education classes, seminars and crusades.

Within these Objects, the Charity also has various permanent endowments and un-endowed trust funds held for special purposes in connection with the acquisition/development of a permanent place of worship.

Board Policy

The Charity provides information, contacts, helps, counselling and financial support for charity members and the community at large.

It is our policy to provide a building with various facilities to contribute to the community.

Review of activities and achievements

In the year 2025, we have seen tremendous change and improvement in the way the charity is run.

Financial activities and results

The total incoming resources for the year amounted to £64,776 leading to a total funds carried forward of £64 as at 30 April 2025.

Investment powers, policy and performance

The trustees’ investment powers are governed by the constitution of the charity.

Reserves

The board has continued to ensure that the expenditure is focused on the smooth running of the charity to meet her daily needs of fulfilling the objectives.

HIGHLY FAVOURED MINISTRIES FINANCIAL STATEMENTS DIRECTORS AND TRUSTEES REPORT YEAR ENDED 30 APRIL 2025

Risk Management

The Trustees examine the major risks that the Ministry faces each financial year when preparing and updating the strategic plan. The charity has developed systems to monitor and control these risks to mitigate any impact that they may have on the organisation in the future.

Accounting and reporting responsibilities

The Charities Act 1993 requires the Trustees of the Charity 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 the financial statements, the Trustees should follow best practice and

Select suitable accounting policies and apply them consistently;
Make judgements and estimates that are reasonable and prudent;
Follow applicable accounting standards and the Charities SORP, disclosing and explaining any departures in the financial statements; and
Prepare the financial statements on the going concern basis unless it is inappropriate to assume that the Charity will continue in operation.

The Trustees are responsible for keeping accounting records, which are such as to disclose, with reasonable accuracy, the financial position of the Charity at nay time, and to enable them as trustees to ensure that the financial statements comply with charity law. The Trustees are also responsible for safeguarding the Charity’s assets, and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by the Board of Trustees and signed on its behalf by:

…………………………………………. Pastor

…………………………..

Date

HIGHLY FAVOURED MINISTRIES FINANCIAL STATEMENTS DIRECTORS AND TRUSTEES REPORT YEAR ENDED 30 APRIL 2025

ACCOUNTANTS’ AND INDEPENDENT EXAMINER’S REPORT

I report to the trustees on my examination of the accounts of the Highly Favoured Ministries for the year ended 30 April 2025.

Responsibilities and basis of report

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

Independent examiner’s statement

I am qualified to undertake the examination by being a qualified member of the Chartered Association of Certified Accountants (ACCA) and Fellow of the Association (FCCA).

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination (other than that disclosed below *) 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.

Dr Olu Olasode FCCA Chartered Certified Accountant TL First Accountants Limited TL First Limited

Date:

HIGHLY FAVOURED MINISTRIES FINANCIAL STATEMENTS DIRECTORS AND TRUSTEES REPORT YEAR ENDED 30 APRIL 2025

STATEMENT OF FINANCIAL ACTIVITIES INCOMING RESOURCES Activities to further the charity’s objects Grants and Donations (Note 2) Total Incoming Resources RESOURCES EXPENDED Costs of activities in furtherance of the company’s objects Charitable Activities (Note 3) Governance Costs (Note 4) Total Resources Expended Net Incoming/ (Outgoing) Resources Total Funds Brought Forward Total Funds Carried Forward	2025 2025 2025 2024 Restricted Unrestricted Total Total £ £ £ £ - 64,776 64,776 63,607
	- 64,776 64,776 63,607 - 6,110 6,110 - - 59,707 59,707 66,154
	- 65,817 65,817 66,154 - (1,040) (1,040) (2,547) - 1,104 1,104 3,651
	- 64 64 1,104

HIGHLY FAVOURED MINISTRIES FINANCIAL STATEMENTS DIRECTORS AND TRUSTEES REPORT YEAR ENDED 30 APRIL 2025

BALANCE SHEET FIXED ASSETS(note 5) CURRENT ASSETS Debtors (note 6) Cash and Bank CURRENT LIABILITIES Creditors- within one year (note 7) NET CURRENT ASSETS Creditors– Not within one year (note 8) NET ASSETS Capital And Reserves Fund / (loss) NET ASSETS	2025 £ 2,500 247 -	2025 £ 246 2,747 (2,929)	2024 £ 2,500 9 -	2024 £ 3,185 2,509 (4,590)

		64		1,104
		64		1,104
		64		1,104

Approved by the Board of Trustees on _____ and signed on their behalf

………………………………………. Trustee

HIGHLY FAVOURED MINISTRIES FINANCIAL STATEMENTS DIRECTORS AND TRUSTEES REPORT YEAR ENDED 30 APRIL 2025

NOTES TO THE FINANCIAL STATEMENTS – 30 April 2025

1. ACCOUNTING POLICIES

(A) Accounting Convention & Compliance

These accounts have been drawn up on the basis of a going concern and the financial statements prepared under the historical cost convention in accordance with applicable Standards, Financial Reporting Standards and the Charities Acts 1992 & 1993. The statements comply with best practice and reflect the requirements of the revised Statement of Recommended Practice, Accounting and Reporting by Charities (SORP 2005)

(B) Recognition of Income and Expenditure

Income and Expenditure are recognised on an accrual basis. Donations and legacies are accounted for as received and accrued only when a value can be established before payment is received.

General Fund

Revenue grants and other income and expenditure associated with the general operations of the charity and its international projects are dealt with in the General Fund.

Restricted Fund

These comprise donations, legacies or other income, the use of which has been specified by the donor. There is currently no restricted fund.

Endowment Fund

There is currently no endowment fund.

(C) Depreciation

All fixed assets over £ 1,000 are capitalised. The charge for depreciation is calculated to write off the cost of the fixed assets over their useful lives on the following basis:

Musical Instruments, furniture, computer and accessories- 25% reducing balance

Motor vehicle 25% reducing balance

HIGHLY FAVOURED MINISTRIES FINANCIAL STATEMENTS AND TRUSTEES REPORT YEAR ENDED 30 APRIL 2024

2. Donations and Similar Incoming Resources

Tithes & offering HMRC Gift-aid Repayment 3. Charitable Activities Welfare /Donation Events & Retreats & catering Books and printing 4. GOVERNANCE COSTS Accountancy Fee Admin expenses Depreciation Rent	2025 2025 Restricted Unrestricted £ £ - 51,177 - 13,599	2025 2024 Total Total £ £ 51,177 49,425 13,599 9,501
	- 64,776	64,776 58,926
		2025 2024 £ £ - - - - - -
		- -
		2025 2024 £ £ 2,470 1,907 4,921 5,206 2,939 2,967 49,377 56,254 59,707 66,154

HIGHLY FAVOURED MINISTRIES FINANCIAL STATEMENTS AND TRUSTEES REPORT YEAR ENDED 30 APRIL 2024

5. Fixed Assets

COST At 30 April 2024 Additions Disposals At 30 April 2025 DEPRECIATION Accumulated Depreciation Charge for the year NET BOOK VALUE At 30 April 2025 At 30 April 2024 6. DEBTORS- falling due within one year Other debtors 7. CREDITORS - falling due after one year Other Creditors	Musical Van Property Equipment £ £ £ 0 0 11,431 - - - - - -	Motor vehicle Total £ £ 3,500 14,931 - - - -
	0 0 11,431 - 0 8,574 - 0 2,857	3,500 14,931 3,172 11,746 82 2,939
	- 0 11,341 0 0 0	3,254 14,685 246 3,185
	0 0 2,857	328 3,185 2025 2024 £ £ 2,500 2,500
		2,500 2,500
		2025 2024 £ £ 2,929 4,590
		2,929 4,590