REGISTERED COMPANY NUMBER.. 09565444 (England and Wales} REGISTERED CHARITY NUMBER: 1166473 Re ort of the Trustees and Unaudited Financial Statements for the Year Ended 31 March 2024 for Faith Church Ministries Limited Daniel Sam Limited Chartered Accountants 61 Plodder Lané Farnworth Bolton BL4 OBX
Faith Church Ministries Limited Contenls of the Financial Statements for the Year Ended 31 March 2024 Page Report of the Trustees Independent Examine¢s Report statement of FinanGial Adivilies Balance Sheet Cash Flow Statemènt Notes to the Cash Flaw Statement 10 Notes lo the Financial Statements 11 to 17 Delailed Stalemenl of Financial Activities 18
Faith Church Ministries Limited Re ort ofthe Trustees for the Year Ended 31 March 2024 The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities.. Staternent 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 1021 leffeclive 1 January 2019). OBJECTIVES AND ACTIVITIES Objectives and aims As slated in our governing document, the objectives of the charity are as follows.. To advance the Christian faith in action by being a local church primarily in the South West of London particularly working with Ihe Sri Lankan community and also working with churches in Sri Lanka and Europe in evangelistic and teaching ministries. The charity also operates churches in other parts of the UK. To provide and assist in the provision of facilities for the benefit of the local communrty. Primarily these are the local communities and neighbourhoods where the churches gather. To relieve sickness and financial hardship through the provision of funds, goods or services. Significant activities During the year there are several key dates in the Christian calendar where the chartty runs special services. Some of special services and events that took place during this financial year are set out below.. April 2023 - Easter service5 to celebrate Good Friday and Easter Sunday. July 2023- Annual Fire Camp. July 2023- 30th year church anniversary. December 2023- Christmas programme and New Year Service. MarGh 2024 - Easter services. The regular activilies include Sunday worship services in Tamil, English and Sinhala and monthly prayer and fasting meetings. The regular and special services all seNe the primary objective of the charity to advance the Christian failh. Through the activities, members of the church and the wider local community are blessed and taught the principles of the Chrislian faith to help them in their daily lives. Public benefit The board of trustees is satisfied wtth the performance of the charity during the year and in planning the activities the trustees have had regard to the Charity Commission's guidan on public benefit. Volunteers The chanty hevily relies on volunteers giving their time lo serve in different areas of the church, which include.. Media team helping services to be streamed to those who cannot attend in person. Stewards team welcoming visitors and members to its services and activities. Music and worship teams using their musical talents within church ServIS and programmes. Cleaning team helping to keep the church's venues tidy and well maintained. Sunday school team providing activities for the children of the church in its services. Page 1
Faith Church Ministries Limited Re ort oflhe Truslees for the Year Ended 31 March 2024 STRATEGIC REPORT Achievement and performance Charitable activities During the year the charity has continued to demonstrate the Christian faith in action by serving the community in which it operates, here and overseas, in the following ways.. Meeting the needs of those less well off in the community through church members visiting and befriending those in need, inclLJding local prayer group for local and individual needs. Providing training for volunteers and youth workers. Providing training to leaders on a Monthly basis, which is effectively helping many of those attending and also provid8d teaching seminars lo SLJnday school teachers every three months. Continuing to hold fasting and prayer meetings once a month, which are extremely well attended. Providing counselling, advice and encouragement to women through the church's ladies ministry. The charity has continued to work hard during the year to build on and expand its charitable activities into other parts of the country led by volunteers that have been inspired by the work of the charity. This has enabled more events and meetings to be held to bring hope and joy to communities. For example, multiple Christmas programs and annual camps have been held where people of all ages can attend and participale. Financial review Financial position The principal source of funds is the voluntary offerings and tithes from the church members. Church members have continued to give generously towards the charity's activities. In particular, the prOsS of purchasing a pemianent London based building gained traction in this year and a special appeal was made to church members lo donate to the building fund. Across the year, the charity received donations totalling £229,596 which has been a big boost to the amount available for the building deposit. In the next financial year, the charity will have ils own building and there will be much less reliance on hiring third party premises to conduct its activities. It is anticipated that fi'nancial performance will improve in the long term as the mortgage charges should be less than the rent previously paid and the charity will have options to generate secondary lines of income by hiring out surplus building to other groups. Reserves policy The Trustees have set a policy of retaining reserves sufficient for the foreseeable needs of the church. Imiere specific capital expenditure is foreseen, amounts are set aside as designated funds so Ihat the free reserves {general reserves excluding amounts invested in assets for the churches use) are available to meet the costs of normal running and expansion of the church and to ensure the church can meet the commitments Ihat have been entered into. Page 2
Faith Church Ministries Limited ort of the Trustees for the Year Ended 31 March 2024 STRATEGIC REPORT Future plans During ihe year, the charity was in the process of purchasing a building for its main church services in London and a base for its day-to-day management. The purchase of the building was successful and cofflpleted in April 2024. Going forward the charity will have increased flexibility in planning its London based activities as it will not have lo rely on hiring third party premises. The building also provides opportunity for Ihe charity to hire out the building to third party groups to boost its income and increase financial stability. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity is controlled by its governing document, a memorandum and articles of association dated 15 Ap1712015, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. Recruitment and appointment of new truste•s The power lo appoint or remove a Iruslee is vested in the trustees. Organisational Structure The charity's tnjstees are responsible for the running and management of the charity. Within the church setting, spintual direction and pastoral care is delegated to Bishop A Anthonipillai and Rev N Anlhonipillai who are the senior ministers in the church. They are accountable to the trustees. Risk management The trustees have a duty to idenlify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. The trustees are satisfied that systems are in place to manage risks that have been identified. REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 09565444 (England and Wales) Registered Charity number 1166473 Registered office 1A Throwley Way Sutton SM14AF Trustees S Vasanthan V Kumarasamy Mrs C S Balasingam Rev N Anthonipillai Dr P D Anthonipillai Company Secretary Rev N Anthonipillai Page 3
Faith Church Minislries Limited ort of the Trustees for the Year Ended 31 March 2024 REFERENCE AND ADMINISTRATIVE DETAILS Independent Examlner Daniel Sam Limited Chartered Accountants 61 Plodder Lane Farnworth Bolton BL4 OBX Solicltors Anthony Collins 134 Edmund Street Bimingham B3 2ES Bankers Barclays Bank 1 North End Croydon CR9 1SX Report of the Iruslees, incorporatin as the company directors, on . l. a strategic r port, approved by order of the board of trustees. nd signed on th6 board's beha by.. Rev N Anthoniplllal - Trustee Page 4
Inde endenl Examiner's Re ort to the Trustees of Faith Church Ministries Limited Independent examin8r's report to the trustees of Faith Church Ministries Limited I'the Company,) I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2024. Responsibilities and basis of report As the charity's trustees of the Company (and also its directors for the purposes of company lawl you are responsible for the preparation of the accounts in accordan with the requirements of Ihe Companies Act 2006 {'the 2006 Acl,). Having satisfied myself that the accounts of the Company are not required to be audited under Part 1 S of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried OLrt under Section 145 of the Charities Act 20111'lhe 2011 Act,). In carrying out my examinalion I have followed the Directions given by the Charity Commission under Section 14515) {b} of the 2011 Act. Independent examiner's statement Since your charity's gross income exeded £250.000 your examiner must be a member of a listed body. I can confirm that l am qualified to undertake the examination because l am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act., or the accounts do not accord with those records,. or the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent exarninalion., or the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practi for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 10211. I have no cOnrnS 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. 6b• Gracian Daniel-sam ACA Daniel Sam Limited Chartered Accountants 61 Plodder Lane Farnworth Bolton BL4 OBX Date.. Page 5
Faith Church Ministries Limited Statement of Financial Activities for the Year Ended 31 March 2024 31.3.24 Total funds 31.3.23 Total funds Unrestricted Restricted fund funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 380,892 229,596 610,488 421,802 Other income 787 Total 380,892 229,596 610,488 422,589 EXPENDITURE ON Other 330,803 9,963 340,766 329,119 NET INCOME 50,089 219,633 269,722 93,470 RECONCILIATION OF FUNDS Total funds brought fOard 194,586 187,812 382,398 288,928 TOTAL FUNDS CARRIED FORWARD 244,675 407,445 652,120 382,398 The notes form part of these financial statements Page 6
Faith Church Ministries Limited Balance Sheet 31 March 2024 31.3.24 Total funds 31.3.23 Total funds Unrestricted Restricted fund funds Notes FIXED ASSETS Tangible assets 42,728 42,728 25.131 CURRENT ASSETS Debtors Cash at bank 104 205,381 3,724 403,721 3,828 609,102 96 363,129 205,485 407,445 612,930 363,225 CREDITORS Amounts falling due within one year 10 {3,538) {3,538) (5,958) NET CURRENT ASSETS 201,947 407,445 609,392 357,267 TOTAL ASSETS LESS CURRENT LIABILITIES 244,675 407.445 652,120 382,398 NET ASSETS 244,675 407,445 652,120 382,398 FUNDS Unrestricted funds Restricted funds 244,675 407,445 194,586 187,812 TOTAL FUNDS 652,120 382,398 The charitable company is entitled lo exemption from audit under Section 477 ofthe Companies Act 2006 for the year ended 31 March 2024. The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 oflhe Companies Act 2006. The trustees acknowledge their responsibilities for {a} ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and {b} preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. The financial statements were approved by the Board of Trustees and authorised for issue on ..4K...Mowb..tr.....ZQ.7.* and were signed on ils behalf by.. The notes form part of these financial statemenls Page 7 continued...
Faith Church Minlstri88 Limited Balance Sheet - continued 31 March 2024 N Anfhonipillai - Trustee S Vasanttian - Trustee V Kumarasamy- Trustee C S Balaslngam - Trustee i? D Anliionltyiial - Trustee Th6 notes f¢)mi part of these financial statsments Page 8
Faith Church Ministries Limited Cash Flow Statement for the Year Ended 31 March 2024 31,3.24 31.3.23 Notes Cash flows from operating activities Cash generated from operations Interest paid 270,817 101,113 Net cash provided by operating activities 270,817 101,106 Cash flows from invèsting activities Purchase of tangible fixed assets 24,844 4,6421 Net cash used in investing activities 24,844) 4,642} Change in cash and cash 8quivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period 245,973 96,464 363,129 266,665 Cash and cash equivalents at the end of the reporting period 609,102 363,129 The notes form part of these financial slalements Page 9
Faith Church Ministries Limited Notes to the Cash Flow Slalement foi the Year Ended 31 March 2024 RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES 31.3.24 31.3.23 Net income for the reporting period (as per the Statement of Financial Activities) Adjustments for: Depreciation charges Interest paid {Increaselldecrease in deblors (Decrease)lincrease in creditors 269,722 93,470 7,247 5,993 13,732) 2,420 494 1,149 Net cash provided by operations 270,817 101,113 ANALYSIS OF CHANGES IN NET FUNDS At 1.4.23 Cash flow At 31.3.24 Net cash Cash at bank 363,129 245,973 609,102 363,129 245,973 609,102 Total 363,129 245,973 609,102 The notes form part of these financial statements Page 10
Faith Church Ministries Limited Notes to the Financial Slatemenls for the Year Ended 31 March 2024 ACCOUNTING POLICIES Basis of preparing the financial statements The financial statements of the charitable company, 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 PraGIIGe applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 2019}', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The financial statements have been prepared under the historical cost convention_ Income All income is recognised in the Statement of Financial Activities once the charity has entitlement lo the funds, it is probable that the income will be received and the amount can be measured reliably. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, rt is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings Ihat aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Tanglble fixed assets Depreciation is provided at the following annual rales in order to write off each asset over its estimated useful life. Motor vehicles 20 % on reducing balance Computer equipment - 20 % on reducing balance Taxation The chariiy is exempt from corporation tax on its charitable activities. Fund accounting Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of Ihe charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanalion of the nature and purpose of each fund is included in the notes to the financial statements. Hire purchase and leasing commitments Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease. Page11 continued...
Faith Church Ministries Limited Notes to the Financial Statements continued for the Year Ended 31 March 2024 ACCOUNTING POLICIES - continued Pension costs and other post-retirement benefits The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. DONATIONS AND LEGACIES 31.3.24 31.3.23 Offerings and tithes Gift aid 596,187 14,301 362,480 59,322 610,488 421,802 SUPPORT COSTS Govemance costs Other resources expended 21,063 NET INCOMEIIEXPENDITURE) Net incomel{expendilure) is stated afler chargingl{crediting)'. 31.3.24 31.3.23 Depreciation - owned assets Hire of plant and machinery Other operating leases 7,247 2,278 92,361 5,993 6,949 78,201 TRUSTEES. REMUNERATION AND BENEFITS 31.3.24 31.3.23 Trustees, salaries Trustees, pension contributions to money purchase schemes 44.052 3,600 44,052 3,60Q 47,652 47.652 The above remuneration is in respect of Rev N Anthonipillai in her role as a minister of the church and not in her role as a trustee. Page 12 continued...
Faith Church Ministries Limited Notes lo the Financial Statements continued for the Year Ended 31 March 2024 TRUSTEES, REMUNERATION AND BENEFITS - continued Trustees, expenses In addition to the above, Rev N Anthonipillai was also reimbursed by the charity for her ministry travel costs during the year. STAFF COSTS 31.3.24 31.3.23 Wages and salaries Social security costs Other pension costs 153.417 10,519 9,330 161,521 13,088 9,372 173,266 183,981 The average monthly number of employees during the year was as follows.. 31.3.24 31.3.23 Administralion Ministry No employees reiVed emoluments in excess of £60,000. INDEPENDENT EXAMINER'S REMUNERATION During the period the following amounts were payable lo Ihe Independent Examiner for their services.. £2,400 for final account preparation and independent examination. Page 13 continued...
Faith Church Ministries Limited Notes to the Financial Statements - continued for the Year Ended 31 March 2024 TANGIBLE FIXED ASSETS Motor vehicles Computer equipment Totals COST At 1 April 2023 Additions 64,883 8,748 64,883 24,844 16,096 At 31 March 2024 16,096 89,727 DEPRECIATION At 1 April 2023 Charge for year 39,752 5,637 39,752 7,247 1,610 At 31 March 2024 1,610 45,389 46,999 NET BOOK VALUE At 31 March 2024 14,486 28,242 42,728 At 31 March 2023 25,131 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.3.24 31.3.23 Prepayments and accrued income 3,828 96 10. CREDITORS". AMOUNTS FALLING DUE WITHIN ONE YEAR 31.3.24 31.3.23 Other creditors Accruals and deferred income 1,138 2,400 2,328 3,630 3,538 5,958 MOVEMENT IN FUNDS Net movement in funds At 31.3.24 At 1.4.23 Unrestricted funds General fund 194,586 50,089 244,675 Restricted funds Building fund Covid India fund 185,079 2,733 219,633 404,712 2,733 187,812 219,633 407,445 TOTAL FUNDS 382,398 269,722 652,120 Page 14 continued..
F8lth Church Ministries Limited Notes to the Financial Statements continued for the Year Ended 31 March 2024 11. MOVEMENT IN FUNDS- continued Net movement in funds, included in the above are as follows.. Incoming Resources Movement resources expended in funds Unrestricted funds General fLJnd 380,892 (330,8031 50,089 Restricted funds Building fund 229,596 (9,963) 219,633 TOTAL FUNDS 610,488 340,766) 269,722 Comparatives for movement in funds Net movement in funds At 31.3.23 At 1.4.22 Unrestricted funds General fund 113,919 80,667 194,586 Restricted funds Building fund Covid India fund 172,276 2,733 12,803 185,079 2,733 175,009 12,803 187,812 TOTAL FUNDS 288,928 382,398 Comparative net movement in funds, included in the above are as follows.. Incoming Resources Movement resources expended in funds Unrestricted funds General fund 409,679 1329,012) 80,667 Restricted funds Building fund 12.910 {107) 12,803 TOTAL FUNDS 422,589 329,119} 93,470 Page 15 continued...
Failh Church Ministries Limited Notes to the Financial Slatements - continued for the Year Ended 31 March 2024 11. MOVEMENT IN FUNDS- continued A current year 12 months and prior year 12 months combined position is as follows.. Net movement in funds Al 31.3.24 At 1.4.22 Unrestricted funds General fund 113,919 130,756 244,675 Restricted funds Building fund Covid India fund 172,276 2,733 232,436 404,712 2,733 175,009 232,436 407,445 TOTAL FUNDS 288,928 363,192 652,120 A current year 12 months and prioryear12 months combined net movement in funds, included in the above are as follows.. Incoming Resources Movement resources expended in funds Unrestricted funds General fund 790,571 1659,8151 130,756 Restricted funds Building fund 242,506 {10,070) 232,436 TOTAL FUNDS 1,033,077 669,885) 363 192 Fund details Name Building fund Restricted Descri tion Funds received to aid with the purchase of a building for the charity. Funds received to support impoverished communities in ndia. Covid India fund Restricted Page 16 continued...
Faith Church Ministries Limited Notes to the Financial Statements continued for the Year Ended 31 March 2024 12. RELATED PARTY DISCLOSURES Rev N Anlhonipillai la direclorltrustee during the period) and her husband Bishop A Anthonipillai received the following remuneration for their employmenl as ministers within the church.. Bishop A Anthonipillai.. Gross wages of £45,762 (2023.. £45,762), employer pension contributions of £3,600 12023.. £3,600) and benefits in kind with a value of £nil12023'. £4,807) Rev N Anthonipillai= Gross wages of £44.052 {2023'. £44,052), employer pension contributions of £3,600 (2023. £3,600) and benefits in kind with a value of £nil12023'. £3.661). In addition, Mrs D Niroshan (daughler of Rev N Anthonipillai) received gross wages of £21,124 12023.. £24,66718nd employer pension contributions of £72012023.. £740) for her employment as an administrator within the church. Page 17
Faith Church Ministries Limited Detailed Statement of Financial Activities for the Year Ended 31 March 2024 31.3.24 31.3.23 INCOME AND ENDOWMENTS Donations and legacies Offerings and tithes Gift aid 596,187 14,301 362,480 59,322 610,488 421,802 other income Sundry income 787 Total incoming resources 610,488 422,589 EXPENDITURE other Trustees, salaries Trustees, pensions contributions Wages Social security Pensions Vehicle lease Rent Worship expenses Outreach expenses Vehicle maintenance Bank charges Repairs and maintenance Staff benefits Insurance Printing and stationery Sundry expenses Telephone and broadband Depreciation of vehicles Depreciation of equipment Interesl payable 44,052 3,600 109,365 10,519 5,730 2,278 92,361 6,711 16,732 12,043 2,320 44,052 3,600 117,469 13,088 5,772 6,949 78,201 8,691 8,792 15,997 2,096 664 8,014 387 1,624 555 2,502 798 2,147 1,000 2,616 1,610 5,637 5,993 319,703 324,453 Support costs Governance costs Accountancy and legal fees 21,063 4,666 Total resources expended 340,766 329,119 Net income 269,722 93,470 This page does not form part of the statutory financial statements Page 18