VICTORY CENTRE INTERNATIONAL FINANCIAL STATEMENTS 30JUNE 2024 Charity Number 1169821 victORY CENTRE IhlTERNATIONAL FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 CONTENTS PAGE Trustees Report Statement of Financial Activities {incorporating the Income and Expenditure account) Balance Sheet Notes to the financial statements Independent Examination li VICTORY CENTRE INTERNATIONAL FINANCIAL sfATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 REFERENCE AND ADMINISTRATIVE DETAILS Registered name Victory Centre International Ltd Trustees Ebun Horata Nafisan Scott Fatmata Youngah Louisa Ida Annan Principal office Registered Address 5-8 Herringham Road LONDON SE7 8NJ Bankers Barclays Bank PIC I Church Place London E14 5HP Wirtory Centre International Limited Company Registration number: 10173897 Dirertorfs Report For the period from l July 2023 to 30 June 2024 The Directors present herewith their report together w¥th financial statements for the period from I July 2023 to 30 June 2024. Principal Activities: Virtory Centre International Limited is a private company limited by guarantee. The companvs principal activity during the year was the provision of church ministry services. Directors The following persons served as directors during the period: Ms Fatmata Youn8ah Mrs Ebun Scott Small Company provision5 This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to small companies, regime. This report was approved by board on 10 March 2025 and signed on its behalf. Mrs Ebun Scott VICtORY CENTRE INTERNATIONAL FINANCIAL STATEMEp¥fs FOR THE YEAR ENDED 30 JUNE 2024 ORGANISATIONAL STRUCtURE AND DEC1510N MAKING The Directorsnrustees of the Charity are a5 noted on page I Directorsnrustees meetings are held monthly to review legal & financial strntegy and financial performance but regular contact is maintatned in between meettngs to monitor the distribution of fund5, cash-flow, lesal/HR procedures and seneial soveinance i55ue5. The Directors/Trustees work together with the management committee of the church, which comprises the following as of 30 June 2024 who meet at least 12 times a year as a team: Pastor Christiana Ansumana, Pastor Louisa Annan and Pastor Fatmata Youngah. In addition to the work done by Trustees and Directors as detailed above, the charity seeks to further Its aims and objectives by utilising the volunteer capacity (of about 50) in the membership of the church. They help to facilitate various areas of the activity and vision of the charity as follows. Areas of Church Lrfe & Volunteer Leaders Pastoral & Spiritual Oversight: Pastor Ernest Owusu Praise and Worship: Pastor Loui53 Annan & Pastor Fatmata Youngah. Administration: Pastor Fatmata Youngah . Peggy Soko and Pastor Ebun Scott. Finance: Aminata Kargbo Child Protection & Vulnerable Adults Officer: Mrs Ebun Scott Outreach & Evangelism: Christine Aloyo & Mrs Matilda Ezzidio. Welfare Team: Ms Christiana Ansumana and Ms Isha Koroma. Hospitality: Mrs Alimatu Kaykay, Ms Isha Koroma & Ms Sia Kpakima. Children Service: Mis Melody Owusu & Ms Flourette Richards Youth Ministry: Mr Henry Sogie-Thomas & King Henry Omane Sound Equipment & Maintenance: Mr Brtght Agyeman Organizing. Health & Safety: M5 Fatmata Youngah Media & Creative Output: Miss Safiatu Carew The Management committee and Trustees/Director5 Meet with various leaders in the Church to periodically review areas of church life and activity- These reviews are key in ensuring that the Charity continues to meet its primary objectives. The Trustees/Directors work together wtth the management committee and the departmental leaders in the church to ensure that these aims and objectives are met throughoirt the activity of the organisation. VÉrtory Centre International (Trustees Report ConL) food, clothing. money etc. We also do hospital visitations of our members and their families to offer prayers and words of comfort needed for their recovery. ANNUAL INDEPENDENCE DAY EVENT- We gathers as a church to ￿lebrate the Independence Day of each of the nationalities present in our congregatton. We do this by advertising and opening our door5 to the community and celebrate with the display of variou5 local food, cultural items, play and dance to the local music of the country in question. We listen as the country's history is read and together we learn and stng the national anthem. LIFE CLASS-This takes place every Sunday 30 minutes before the commencement of our worship service. Members are tsught on how to discover their talents and utilize it effectively to achieve maximum results. During this class, we explore very important topic such as marriage, money, good behaviour, fear, anger and career development strategies. CLOTHES BANK-We have started to collect clothes & shoes from individuals in the church for supporting the needy and vulnerable. Last year we donated clothes and 5hoe5 to the victiffl5 of the Grenfell tower fire disaster. FINANCIAL REVIEW PLANS FOR FUTURE PERIODS Our plans for the next one to three years include: l. Youth development programmes 2. Looking to buy a permanent place of worship 3. Increase our support for the homeless 4. Marriage and singles seminars 5. Prison and detention centre vi5itation5 programme This report was approved by the board of trustees on LO March 2025 and signed on its behalf by: M5 Fatmata Youngah g-o March 2025 VI￿oRy CENTRE INTERNATIONAL STATEMENT OF FINANaAL AcfiviTIES (INCORPORATING THE INCOME AND EXPENDITURE ACCOUNTI YEAR ENDED 30 JUNE 2024 RISTRicfED UNRISTRicfED TOTAL FUNDS TOTAL FUNDS FUNDS 2024 FUNDS 2024 2024 2023 INCOMING RESOURCES Charitable Source 182,583 182,583 147,502 Grants HMRC Gift Aid 19,988 19,g88 24,445 Total Donations 202,571 202,571 171,947 RESOURCES EXPANDED Charitable Activity 34,951 34,951 29,898 Venue and Event Organising 72,547 72,547 69,580 Honorarium 17,025 17,025 12,490 Legal and Professional 2,2 Wages 19,060 19,060 21,282 Travelling & Subsistence 7,017 7,017 6,208 Other Admin Cost 44,521 44,521 20,219 TOTAL RESOUR5E EXPENDED 197,121 197,121 161,677 The Statement of Financial Activities includes all gain5 and losses in the year and therefore a statement of total ￿Cogni*d gains and losses has not been prepared. All of the above amounts relate to continuin8 activities. vicroRY CENTRE INTERNATIONAL BALANCE SHEET AS AT 30 JUNE 2024 NOTES 2024 2024 2023 2023 FIXED ASSETS Equipment 15,132 16,487 CURRENT ASSETS Debtors 449 4,404 Investments 2,500 2,500 Cash at bank and in hand 1,456 375 4,405 7,279 CURRENT LIABILITIES Accruals 19501 1950) Long term loan (16,118) {25,7971 NET ASSETS 2,469 (2,981) FUNDS Unrestricted Funds 2,469 (2,9811 Restrirted Funds TOTAL FUNDS 2.469 {2,981} vicroRY CENTRE INTERNATIONAL NOTES TO THE ACCOUNTS FIXED ASSETS Equipment Total Costs at In123 45,775 45,775 Additions 3,689 3,689 49,464 49,464 Depreciation at 1/7123 For the year 29,288 29,288 5,044 34,332 34,332 Net Book Value 3016124 15,132 15,132 2. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Accrued Expenses 950 950 3. CREDITORS: AMOUNTS FALLING DUE AFfER ONE YEAR 2024 2023 16,118 25,797 VICTORY CENTRE INTERNATIONAL I. ACCOUNTING POLICIES Basi5 of accounting The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Prattice applicable to charities preparing their accounts in accordance with the Financial Reporting standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2015)-(Charities SORP IFRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) and the Companies Act 21ThJ6. Cash flow statement The trustees have taken advantage of the exemption in Financial Reporting Standard Nol {revised) from including a cash flow statement in the financial statements on the grounds that the company is small. Fixed assets The fixed assets will initially be recorded at cost. Depreciation Depreciation will be calculated so as to write off the cost of an asset, less its estimated residual value over the useful economic life of that asset as follows: Equipment -25% Building work -25% Motorvehicles -30% io Areas of oversight and governan￿ have continued to be developed this year including the full review of the full health and safety policy, fire risk assessment, f￿ed assets register and the ongoing development and implementation of the Child Protection Policy in line with the latest government guidan￿ and advice. The mana8ement committee and Trustees/DÉrectors set and agree financial budgets for each area of Church life. These are monitored and reviewed each month against cash flow and expenditure management. REVIEW OF ACTIVITIES Promotion of Gospel of Jesus Christ our Lord and Saviour We hold regular weekly Bible studies and worship Services. Members and the general public have access to our regular meetings on Thursday and Sunday evenings. There were a number of outreaches we have ones a month street evangelism in the Southwark area to reach out and invite souls into the church. Education and Relief Poverty As a church we have been proactive in responding to the needs of our local community in relation to vulnerable people both in the congregation and our local community. Training & People Development-we held a number of leadership training sessions aimed at equipping pastors. ministers and heads of department as well as those aspiring to be leaders. Members were offered advice and guidance to enhance their career prospects through one-to-one coachin8. These were usually held on the first Saturday of the month. COMMUNITY PROGRAMME Victory Centre International IVCI) is a multi