CHARITABLE INCORPORATED ORGANISATION NUMBER: 1168646 REPORT OF THE TRUSTEES AND FINANCIAL STATEMEIYTS FOR THE YEAR ENDED 31 MARCH 2024 FOR I AM THAT I AM NIINISTRIES 729 HIGH ROAD SEVEN KINGS ESSEX IG3 8RL
I AM THAT I AM TrIINISTRTES CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Page Report of the Trustees 2to3 Independent Examiner's Report Statement of Financial Activities Balance Sheet 6t07 Notes to the Financial Statements 8tolO
I AM THAT I AM MINISTRIES REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 I'he trustees presenl their reporl with the financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of accounting and rcporting by thc Charities- Statetnent of RecommendLd Practice (SORP} applicablc to Charities prepari ng their accounts in accordancc thc Financial Rcporting Standard appl icablc in thc UK and Republic of Ireland (FRSI 02) (effective l January 2019). REFERENCE AND ADMINISTRATIVE DETAILS Registered Charitable Incorporated Organisation (CIO) CIO number 1168646 Registered office 729 HTCTH ROAD SEVEN KINGS ESSEX IG3 8RL Trustees Valentine Chtkwe Chair Godlyn Chikwe Trustee Emma Nwabude Trustee Bankers Barcla)'s Bank Plc Romtord 2 ESSEX STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document l am That l am Ministries is a Charitable Incorporated Organisation Rcgistered number 1168646 The Charttable Organisation was registercd on 08 August 2016. Recruitment and appointment of new trustees "rhc management o*" the charity is vested ITI the F.XLJculive Committee coiiqi8tiiig of Triigleeq and that any t.ru.8tce.% are Llected by ai Ihe trustees Meeling called by the trustees or co-opted by the Charity Trustees in accordance with the Charity constitution.
I AM THAT I AM MINISTRIES REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 IARCH 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Risk management The trustees have a duty to identit.y and revieiv the risks to which the charity is exposed and to ensure appro priate controls are in place to provide reasonable assurance against fraud and error. OBJECTIVES AND ACTIVITIES Objectives and aims The objects of the charity.. as stated in its Constitution: are: ( l ) To adw ance the Christian religion in Greater London and beyond for the benefit of public through Ihe holding ofprayer mLeting, lectures, public, cclcbration of religious testivals, producing and/or dtslribuiion ofi" literatLwe on thc Christian faith to enlighten others aboul Ihe Christian religion. (2) To provide and improve the condilions of life of vulnerablc individuals through provision of Social welfare: recrcational and Leisure I:acilities. ACHIEVEMENT AND PERFORMANCE a) Holding Prayer meetings and Worship services The Charily held the usual praycr nicctings oncc a wcck throughout thc Pcriod. Thi s was attended by aboul twenty members in around Komford and Greater IA)ndon. b) Counselling & Evangelist Services The charity organised some counselling and evangelist services during the year and these were altendcd by members in need thorough out the period by residence in the (ireater London area and beN"ond other supporters of the l am Ministries. c) Other Community & Social Activities There were some youth club and community projects hcld during the period. The Future of l Am That l Am Ministries The Charitable Incorporated organisation Ivould continue to work with the main Church to achieve the objectives of the charitable Incorporated company (CIO) and future development projects. FINANCIAL REVIEW Resee5 policy The trustees are aware Ihat a prudent tinancial rnanagcment of the charity requires that some funds are put asidc for a rainy day After considcring the contractual obligations of the charity, such as premis¢s and other leasing obl igations the trustees have dectded that they would require to hold funds in reseri'e: equivalent to a Minimum of six months total operating expenditure. This mcans a total of approximately £500 for the current financial year. The current level of free reserves adcquatcly satisfics the charity's reserves pol icy. The trustees plan to generate funds to incrcase the current level of Reserves. Funds in deficit No funds are currently in deficit. Approved by. order ofthe board of trustees on 25 August 2024 and signed on its behalf by: VALENTtFqE CHIKWE (CHAIR)_ TRUSTEE
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF I AM THAT I AM MINISTRIES I report CIO trustees 011 the accounts for the year ended 31 Marcli 2024 set out on pagcs six to cleven. Respective respollsibilities of trustees and examiner Tlie cliarity's trustees are respoiisible for tlie preparation of the accounts. The charity's trustees consider tliat ali audit is not required for tliis year (under Section 144(2) of the Charities Act 2011 (the 2011 Act)) and tliat an indcpciidciit examinatioii is required. Having satisfied myself that tlie charity is not subject to audit under Charity law and is eligible for independeiit examination, it is my responsibility to: examine the accounts under Section 145 of tlie 2011 Act to follow the procedures laid down in tlie General Directions giveii by the Charity Commission (under 145(5)(b) of the 2011 Act)" and to state whether particular matters have come to my attention. Basis of the independent examiner's report My examination was carried out in accordance with the General Directions given by the Charity Commission. An examiiiatioi) includes a review of the accountiiig records kept by the cliarity and a comparison of the accounts preseiited with tliose records. It also includes coiisideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees conceriiing any sucli matters. The procedures undertaken do not provide all the evidence that would be required in an audit, aiid consequeiitly no opinion is given as to wliether the accouiits present a 'true and fair view ' and the report is limited to those Inatlers set out in tlie statemeiits below. Independent examiner's statement In coniiection with my examination, no matter has coine to my attentioii: which gives me reasonablc cause to believe that, in aiiy material respect, the requirements to keep accounting records in accordance with Section 130 of the Charities Act. aiid to prepare accouiits which accord with the accounting records, or the accounts did not comply with the applicable accounting requirements concerning the forni contents of accoui)ts set out in tlie Charities (Accounts and Reports) Regulatioiis 2008 otlier tliaii requireinent that the accounts give a 'true and fair, view wliich is not a Inatter coiisidered as part o iiidependent exam ination. I have no concerns and have come across, no other matters in connection with the examination to whicli attention should be drawn in this report in order to enable proper understanding of the accounts to be I"eaclied. ARDOW FCCA JEIThY ASSOCIATES CHARTERED CERTIFIED ACCOUNTANTS 73 HEATHFIELD DRIVE MITCHAM SURREY CR4 3RD Date: 25 August 2024
I AM TIIAT I MA MINISTRIES STATEMENT OF FI,ANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 2024 Total funds 2023 Total funds Unrcstricted fund RestriLtcd Not INCOIVIING RESOURCES Incoming resources from generated funds Activitics for gcncrating Incomc Voluntary Income CharitablL Incomc Investrnent income 550 550 550 Total incoming resources 550 550 550 RESOURCES EXPENDED Costs of generating funds Costs of gcncrating vol untary incorne Charitable activities Charitable Atitivities Governance costs 500 500 500 Total resources expended 500 500 500 NET INCOMINGI(OUTGOING) RESOURCES 50 io 50 RECONCILIATION OF FUNDS Total funds brought forward 1.570 1,570 1.520 TOTAL FUNDS CARRIED FORWARD 1.620 1.620 1.570 Thc notes form part of these fjnancial statements Page 5
I AM THAT I A.Iq MINISTRIES BALANCE SHEET AT 31 IIqARCH 2024 2024 Total funds 2023 Tolal fund8 Unrestricted fund Restricted fund Not es FIXED ASSETS Tangible assets CURRENT ASSETS Debturs & Prepa?¥"mcnts Cash at biink and in hand 2,120 2.120 2.070 2,120 2,120 2,070 CREDITORS Amounts falling due withill one year (500) (500) (500) NET CURRINT (LIABILITIES)/ASSETS 1.620 1.620 1.570 TOTAL ASSETS LESS CURRENT LIABILITIES 1.620 1,620 1,570 NET ASSETS 1,620 1.620 1.570 FUNDS Unrestricted funds- Surpl us Rcstrictcd funds 1,620 1,570 1,620 1,570 TOTAL FUNDS The notes forni part of thcsc financial statemcnts Page 6
J AM THAT I AM MINJSTRIES BALANCE SHEET- CONTINUED AT 31 MARCH 2024 The charitable trust is entitled to exemption from audit under Section 144(2) of the Charities Act 2011 (the 201 l Act) t.or the year ended 31 March 2024. The members have not rcquircd the charitable Incorwrated Company to obtain an audit of its financial statctncnts for thc year ended 31 March 2024 in 2ccnrd&nce with appropriate Section of the Charitieg Act 20112nd the SOIIP. The trustees acknowledge their respoiisibilities for (a) ensuring th(It the charitable company keeps accounting records that comply w'ith the appropriate Sections of the Charities Act 2011 (the 201 l Act) and preparing fjnancial statements which givc & true and fair view of the %tatc of af-tairs of the charitablc company as at the cnd of eaLh financial ycar and of its surplus or deficit for each fLnancial year in accordance with the rLquirements of.the Sections and whiLh otherwise comply with the requircmcnts of th¢ Chariti¢s Act 2011 rel&ting to financial statcmenis, bo far as applicablc to thc charitablc cornpany. (b) Thesc financial statements have been prepared in accordance with the Charities SORP relating to sm(Ill charitable cornpanics and with Ihe Financial Rcporting Standard for Smaller Entitics. ll.he financial statcmcnts were approved by the Board of Trustccs on 25August 2024 and wcrc signed on its behalf by: Valentine Chikive (Chair) -Trustee Godl!In Chikwe (Secrelary) -Trustee The notes forni part of these finanLial statements Page 7
I AM I ATr1 MINISTRIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES Accounting convention The financial _£t2tements have been prepared under the historical cost convention, and in <iccordance with the Financial Reporting Standard for Smaller Entities (effective April 2008): Ihe Companies Act 2006 and the requiremcnts of the Statement of RecommendLd PraLtice: Accounting and Reporting by Charities. Incoming resources All inLorning resources are included on the Statemcnt of Financial Actiiiitics when the charitj, is legally entitled to the income and the amount can be quantitied with reasonable accuracy. Resources expended IxpeThditure is accounted for on an accruals basis and hag been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed lo particular headings, they have been allocated to activitEe.% on a basis consistent with the use of resourLes. Tangible fixed assets Depreciation is provided ai the following annual rates in order to write off each asset over its estimated useful life. lant, machinery Fixtures and fittings ornputcr cquipment 20 /Don reduuing balaiiLe 20 /u on reducing balancc 20 % on rcducing balancc Taxation The charity is exempt from corporation tax on it8 charitable aLtivities. Fund accounting Unrestricted funds can be used in accordance wilh the charilable objectives al the discretion of the trustees. Restri cted funds can only be used t.or particular rcstrictcd purposes '1th1n the objects of the charity. Restrictions arise Ii'hen specified by Ihe donor or when funds arc raised for particular restriLted purposes. There are no currently any re.stricted funds held. Further explanation of the nature and purposc of each fund is inLluded in the notes to the financial statements. INVESTMENT INCOME 2024 2023 Interest receivable/Rcwards NET INCOMINGI(OUTGOING) RESOURCES Nct resources are stated atter charging/( crediting): 2024 2023 Deprcciation - owned aqqet8 TRUSTEES, REMUNERATION AND BENEFITS There were no trustee5' remuneration or ollicr bcnefits t-or the period ended 31 March 2024 and 31 March 2023. Trustees, expenses There were no trustees, expenses paid for the year ended 31 March 2024 and previous year 2023. Page 8
I THAT I AM MIIYISTIRIES IYOTES TO THE FINANCIAL STATEMENTS- CONTINUED FOR THE YEAR ENDED 31 MARCH 2024 TANGIBLE FIXED ASSETS Motor Van Fixtures and fittitkgs Other equipiiicnt Total s COST At l April 2023 and 31 March 2024 1,000 1,000 DEPRECIATION At l April 2023 Charge for year 1,000 1,000 At 31 March 2024 1.000, 1000 ET BOOK VALUE At 31 March 2024 At 31 March 2023 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Accrued Income 2,120 2,070 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Accrued expenses 500 500 500 500 MOVEMENT IPI FUNDS Net movemeiit in funds At 1.4.23 At 31.3.24 Unrestricted funds eneral fund 1,570 50 1,620 Restricted funds Restricted fund TOTAL FLTNDS 1,570 50 1,620 Page 9
I AI¥I THAT I AM LMINISTRIES INOTES TO THE FINANCIAL STATEMENTS- CONfiNUED FOR THE YEAR Ef¥DED 31 MARCH 2024 IOVEMENT IN FUNDS- continued 14Ct moi'cinent in Iunds. incl uded in thc above as follovi"S: InLoming resources Resources expended Movement in funds Unrestricted funds General fund i50 (500) 50 Restricted funds Ilestricted fund (o) TOTAL FUNDS 550 (500) 50 This page does form part of the statutoi'y financial statements Page 10