2024-03-31-accounts - Network Edification

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Charity no 1169649

Network Edification

Annual Accounts

1st April 2023 to 31st Mar 2024

Prepared by DTT Consultancy Ltd

NETWORK EDIFICATION

TRUSTEE'S REPORT AND FINANCIAL STATEMENT FOR THE YEAR ENDED 31 MARCH 2024

CONTENTS	PAGE
Reference and administrative details	2
Trustees report	3-6
Independent Examiner's report	7
Statement of Financial Activities	8
Balance sheet	9
Notes to the accounts	10-14

Network Edification

REFERENCES AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTESS AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2024

Trustees Miss Ayotomiwa Odedoyin Mrs Mariam Adorkorbidji Ms Nokuthula Marks Mr Opemipo Abiola Charity registration no 1169649 Principal office 6 Frognal Place Sidecup Kent DA14 6LR Independent Examiner Tunji Ogedengbe 36 Daffodil Close Hatfield AL10 9FF Bankers Barclays Bank PLC 263/265 High street Chatham ME4 4BZ

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NETWORK EDIFICATION REPORT OF TRUSTEES

FOR THE YEAR ENDED 31 MARCH 2024

The Trustees submit their report and financial statements of Network Edification (The Charity) for the year ended 31 March 2024. The trustees confirm that the Trustees' report and financial statements of the charity comply with the statutory requirements of the Charities Act 2011 and the Charity's governing document and the provisions of the Statement of Recommended Practice (SORP) issued in April 2005.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Network Edification is Charitable Incorporated Organisation. It was constituted with a CIO - Foundation Model Constitution registered on 13 October 2016 and was registered as a charity in England and Wales on 13 October 2016.

APPOINTMENT OR ELECTION OF DIRECTORS

Trustees are appointed and or co-opted under the terms of the charity's governing document.

POLICIES ADOPTED FOR THE INDUCTION AND TRAINING OF NEW TRUSTEES

The induction process for a newly appointed trustees comprises of an initial meeting with the chair and other Trustees, followed by short meetings with the Senior Pastor on the powers and responsibilities of the Trustees.

ORGANISATIONAL STRUCTURE AND DECISION MAKING

The charity is organised so that the Trustees meet regularly to manage its affairs. The Senior Pastor manages the day to day administration of the churches with assistance from the ministers.

RELATED PARTY TRANSACTION

NETWORK EDIFICATION is a network of churches and faith centres across United Kingdom. Their relationship is stated under the terms of their governing document.

RISK MANAGEMENT

The Trustees have assessed the major risks to which the charity is exposed, in particular those relating to the operations and finances of the charity, and are satisfied that systems are in place to mitigate our exposures to major risks. However consultation and review of our systems are regularly undertaken, in order to ensure they remain up to date and effective.

OBJECTIVES AND ACTIVITIES

The principal object is the advancement of Christian religion, and the relief of poverty. To achieve its objectives, the charity adopted the following strategies:

Setting up platforms which facilitates the general public to express their belief in the Christian God through worship, religious education and conferences, Organising regular events and meetings, and Supporting other charities and Christian events.

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NETWORK EDIFICATION REPORT OF TRUSTEES

FOR YEAR ENDED 31 MARCH 2024

PUBLIC BENEFITS

The Church's Sunday and mid-week services as well as prayer meetings are open to the general public to build on their Christian faith. Apart from its Church activities, the charity was involved in in the following public benefit efforts:

Holding outreaches in areas of interest to our community, such as engaging with local initiatives e.g. donating to the local food bank

The charity runs a bi-monthly leadership training and development in Stratford London. The objective of training is to provide participants with leadership skills.

The charity runs a monthly women's fellowship tagged "POURED OUT WOMEN" for women in. Gillingham.
The charity runs a monthly men's fellowship "RELENTLESS" in Gillingham.

Our efforts are geared towards supporting the programmes of our local community, promoting cohesion in our community, and impacting the lives of the young people and the elderly.

In establishing the annual plan and activities for the year, which will fulfil the overall aims of the organisation, the Trustees considered the principles of public benefits' testing at the time in line with the ethos of the Charity's objects of advancing Christian faith in the United Kingdom.

The Trustees are aware of the Charity Commission's guidance on public benefit and have taken them into account where relevant, in their planning and decision making.

GRANT MAKING POLICY

The church supports visiting ministers of the gospel both within and outside the church. The Church supports other charities and missionary that share its objects in the advancement of Christian faith and relief of poverty. The church gives occasional welfare grant to members of the congregational who are in need, after a careful and thorough assessment.

VOLUNTEERS

The church is grateful for the unstinting efforts of its volunteers who are involved in providing services for the charity. It is estimated that over 4,992 hours are provided by volunteers during the year. If this is conservatively valued at £8.00 per hour, the volunteers effort will amount to over £39,936.

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NETWORK EDIFICATION REPORT OF TRUSTEES

FOR THE YEAR ENDED 31 MARCH 2024

REVIEW OF ACTIVITIES

The charity continues to enjoy tremendous growth in its physical and spiritual life during the year, and in the advancement of Christian faith in accordance with the doctrines set out in its Statement of faith .

RESERVES POLICY

The trustees' policy is to have unrestricted and uncommitted funds (free reserves) to cover 3 to 6 months of resources expended. They feel that this would enable current activities to continue if there is any significant drop in funding. It would obviously be necessary then to consider how the funding would be replaced or activities changed. The present free reserve is within the policy range but the trustees are continuing to seek additional funds to further boost the reserves.

PRINCIPAL FUNDING

Funding has been provided mainly through tithes and offerings by church members and through donations. Pledges are also taken for specific projects.

FUTURE DEVELOPMENTS

The charity continues to explore various ways of spreading the gospel of Christ in an effective manner. The charity is also looking to create more gathering centres, grow in membership and continue to develop its members to make life-changing impact in the community.

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NETWORK EDIFICATION

REPORT OF TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The Trustees are responsible for preparing the annual report and financial statements in accordance with applicable laws and regulations.

Charity law requires the Directors to prepare financial statements for each financial year. Under that law, the Trustees have elected to prepare the financial statements in accordance with the United Kingdom Generally Acceptable Accounting Practice (United Kingdom Accounting Standards and applicable law). The financial statements are required to give a true and fair view of the state of affairs of the charity and of the surplus or deficit of the charity for that period. In preparing the financial statements, the Directors are required to:

Select suitable accounting policies and apply them consistently;
Make judgement and estimates that are reasonable and prudent;

Prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in operation.

The trustees recognise their responsibilities to keep proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and henceforth taking steps for the prevention and detection of fraud and other irregularities.

The appended financial statements have been prepared on the accruals basis and have been examined by an independent examiner, whose report is also appended.

Approved by the Trustees on 21st November 2024 and signed on their behalf by:

Ms Nokuthula Marks Trustee

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TO THE TRUSTEES OF NETWORK EDIFICATION

I report to the trustees on my examination of the accounts of the above charity ("the CIO") for the year ended 31 March 2024 which is set on pages 8 -14

RESPONSIBILITIES AND BASIS OF REPORT

As the charity trustees of the Trust, 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 CIO's account carried out under section 145 of 2011 Act and in carrying out my examination, I have followed applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

INDEPENDENT EXAMINER'S STATEMENT

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that, in any material respect:

accounting records were not kept in accordance with section 130 of the Act or

the accounts do not accord with the accounting records

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Tunji Ogedengbe

Date 21/11/2024

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----- Start of picture text -----
Network Edification
Annual accounts for the period 1169649
Period start date To
1st April 23 Period end date 31st Mar 24
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Section A Statement of financial activities

Recommended categories by activity Details of own analysis Note Incoming resources (Note 3) Incoming resources from generated funds Voluntary income S01 Activities for generating funds S02 Investment income S03 Incoming resources from charitable activities S04 Other incoming resources S05 S06 Resources expended (Notes 4-8) Costs of Generating Funds Activities in furtherance of charity's objects S07 Grants payable - institutional S08 Support Costs S09 Charitable activities S10 Governance costs S11 Other resources expended S12 S13 S14 S15 S16 S17 S18 S19 S20 S21 *Total funds carried forward* Total funds brought forward *Net movement in funds* *Net incoming/(outgoing) resources before* *transfers* Gains and losses on investment assets Prior year adjustment Other recognised gains/(losses) *Net incoming/(outgoing) resources before other* *recognised gains/(losses)* Gross transfers between funds *Total resources expended* *Total incoming resources*	Details of own analysis Note 3)	Unrestricted funds Restricted income funds Endowment funds Total this year Total last year £ £ £ £ £ F01 F02 F03 F04 F05
	S01 S02 S03 S04 S05	- - - - - 45,161 - - 45,161 58,871 - - - - - - - - - - - - - - - - - - - -
		45,161 - - 45,161 58,871
		- - - - - 48,715 - - 48,715 47,309 - - - - - 1,640 - - 1,640 2,378 - - - - - - - - - - - - - - -
		50,355 - - 50,355 49,687 5,194 - - - 5,194 - 9,184
		- - - - -
		5,194 - - - 5,194 - 9,184
		- - - - - - - - - -
		5,194 - - - 5,194 - 9,184
		25,486 - - 25,486 16,302
		20,292 - - 20,292 25,486

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Section B Balance sheet as at 31 March 2024

Unrestricted funds £ F01 - - -	Restricted income funds £ F02 - - -	Endowment funds £ F03 - - -	Total this year Total last year £ £ F04 F05
			- - - -
			- -
-	-	-	- -
- 13,210 7,482	- - -	- - -
			- - 13,210 13,210 - - 7,482 12,676
20,692	-	-	20,692 25,886

400	-	-	400 400

20,292	-	-	20,292 25,486

20,292	-	-	20,292 25,486

- -	- -	- -	- - - -

20,292	-	-	20,292 25,486
20,292	-	-
			20,292 25,486 - - - - - -

20,292	-	-	20,292 25,486
Signature		Date of approval 21/11/2024 Ms Nokuthula Marks Print Name

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Section C Notes to the accounts

Note 1 Basis of preparation

This section should be completed by all charities .

1.1 Basis of accounting

These accounts have been prepared on the basis of historic cost (except that investments are shown at market value) in accordance with:

ü Accounting Standards; or Financial Reporting Standards for Smaller Enterprises (FRSSE);

[** except for the following].

Give details in this box if a different standard has been followed.

-Tick as appropriate:

** - If no departures from the chosen standards have been made then delete these words; otherwise give details of any changes in the boxes.

1.2 Change in basis of accounting

There has been no change to the accounting policies (valuation rules and methods of accounting) since last year (§ except for the following).

§ if no changes have been made to accounting policies then delete these words.

1.3 Changes to previous accounts

No changes have been made to accounts for previous years

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Section C Notes to the accounts (cont)

Note 2 Accounting policies

This standard list of accounting policies has been applied by the charity except for those deleted. Where a different or additional policy has been adopted then this is detailed in the box below.

INCOMING RESOURCES

INCOMING RESOURCES
Recognition of incoming	These are included in the Statement of Financial Activities (SoFA) when:
resources	· the charity becomes entitled to the resources;
	· the trustees are virtually certain they will receive the resources; and
	· the monetary value can be measured with sufficient reliability.
Incoming resources with related	Where incoming resources have related expenditure (as with fundraising or contract income) the
expenditure	incoming resources and related expenditure are reported gross in the SoFA.
Grants and donations	Grants and donations are only included in the SoFA when the charity has unconditional entitlement to
	the resources.
Tax reclaims on donations and	Incoming resources from tax reclaims are included in the SoFA at the same time as the gift to which
gifts	they relate.
Contractual income and	This is only included in the SoFA once the related goods or services have been delivered.
performance related grants
Gifts in kind	Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised.
	Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or distributed
	by the charity.
	Gifts in kind for use by the charity are included in the SoFA as incoming resources when receivable.
Donated services and facilities	These are only included in incoming resources (with an equivalent amount in resources expended)
	where the benefit to the charity is reasonably quantifiable, measurable and material_._The value placed
	on these resources is the estimated value to the charity of the service or facility received.
Volunteer help	annual report.
Investment income	This is included in the accounts when receivable.
Investment gains and losses	This includes any gain or loss on the sale of investments and any gain or loss resulting from revaluing
	investments to market value at the end of the year.
EXPENDITURE AND LIABILITIES
Liability recognition	Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to
	pay out resources.
Governance costs	Include costs of the preparation and examination of statutory accounts, the costs of trustee meetings
	and cost of any legal advice to trustees on governance or constitutional matters.
Grants with performance	Where the charity gives a grant with conditions for its payment being a specific level of service or
conditions	output to be provided, such grants are only recognised in the SoFA once the recipient of the grant has
	provided the specified service or output.
Grants payable without	These are only recognised in the accounts when a commitment has been made and there are no
performance conditions	conditions to be met relating to the grant which remain in the control of the charity.
Support Costs	Support costs include central functions and have been allocated to activity cost categories on a basis
	consistent with the use of resources, eg allocating property costs by floor areas, or per capita, staff
	costs by the time spent and other costs by their usage.
ASSETS
Tangible fixed assets for use by	These are capitalised if they can be used for more than one year, and cost at least £500. They are
charity	valued at cost or a reasonable value on receipt.
Investments	Investments quoted on a recognised stock exchange are valued at market value at the year end. Other
	investment assets are included at trustees' best estimate of market value.
Stocks and work in progress	These are valued at the lower of cost or market value.

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Section C Notes to the accounts (cont)

Note 3 Analysis of incoming resources

Incoming resources may be further analysed if this would help the reader of the accounts.

Activities for generating funds Investment income Incoming resources from charitable activities Voluntary income	Total this year Total last year £ £ Tithes Offering 45,161 43,618 Gift aid 15,253 Total 45,161 58,871 - - - - - - - - - - Total - - - - - - - - - - - - Total - - - - - - - - - - - - Total - - Analysis

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Section C Notes to the accounts (cont)

Note 4 Analysis of resources expended

Resources expended may be further analysed if this would help the reader of the accounts.

----- Start of picture text -----
Total this year Total last year
Analysis £ £
Costs of generating Leadership Allowance 9,795 8,253
voluntary income Travel subsistence 3,911 3,981
Rent 17,160 15,536
Resources 3,361 -
Honorarium - 1,541
Church equip 864 3,394
Printing & Stationery 20 358
Pastoral Care 151 -
Accountancy 400 1,000
Office Expense 424 548
Telephone & Internet 1,209 1,014
Hospitality 7,784 2,276
Media & Technology 2,112 5,999
Bank Charges 391 696
Music 145 575
Gift 104 50
Storage 886 1,260
Seminar/Conference - 829
Total 48,715 47,309
Fundraising trading costs
Total - -
Investment management
costs
Total
Charitable activities Donation 240 337
Welfare 200 1,107
Mission 1,200 933
Total 1,640 2,378
Governance costs
Total
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Section C Notes to the accounts (cont)

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Note 5 Support Costs

Please complete this note if the charity has analysed its expenses using activity categories and has support costs.

----- Start of picture text -----
Fundraising activity Charitable Activity Governance Activity Total Cost
Support cost type £ £ £ £
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
Total - - - -
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Note 6 Details of certain items of expenditure

6.1 Trustee expenses

Please provide details of the amount of any payment or reimbursement of out-of-pocket expenses made to trustees or to third parties for expenses incurred by trustees. If no expenses were paid,

Number of trustees who were paid expenses Nature of the expenses

Total amount paid

		This	year		Last	year


	£			£

6.2 Fees for examination or audit of the accounts

Please provide details of the amount paid for any statutory external scrutiny of accounts and other services provided by your independent examiner or auditor. If nothing was paid please enter NONE in the appropriate box(es).

Other fees (for example: advice, consultancy, accountancy services) paid to the independent examiner or auditor	This year Last year £ £ 400 400

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Section C Notes to the accounts (cont)

Note 11 Debtors and prepayments

Please complete this note if the charity has any debtors or prepayments.

Analysis of debtors		Amounts falling due one year	Amounts falling due one year	within	Amounts falling due after more than one year	Amounts falling due after more than one year	Amounts falling due after more than one year
		This year	Last year		This year		Last year
		£		£	£		£
Trade debtors						-	-
Amounts due from subsidiary and associated undertakings		-		-		-	-
Other debtors		13,210		13,210		-	-
Prepayments and accrued income		-		-		-	-
	Total	13,210		13,210		-	-

Note 12 Creditors and accruals

Please complete this note if the charity has any creditors or accruals.

12.1 Analysis of creditors

		Amounts falling due	Amounts falling due	Amounts falling due	within	within	Amounts	falling due after	falling due after
			one	year			more than one year
		This year		Last year			This year		Last year
		£			£		£		£
Loans and overdrafts						-		-	-
Trade creditors			400		400			-	-
Amounts due to subsidiary and associated undertakings			-			-		-	-
Other creditors						-		-	-
Accruals and deferred income			-			-		-	-
	Total		400		400			-	-

12.2 Security over assets

If any loan, overdraft or other creditor holds a charge or other security over any assets of the charity please provide details.

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