REGISTERED COMPANY NUMBER: 05724253 (England and Wales) REGISTERED CHARITY NUMBER: 1169902
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022
FOR
ACTS OF FAITH MINISTRIES LIMITED
Wright Connections Limited Bedford I-Lab Priory Business Park Stannard Way Bedford Bedfordshire MK44 3RZ
ACTS OF FAITH MINISTRIES LIMITED
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022
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Report of the Trustees 1 to 3
Independent Examiner's Report 4
Statement of Financial Activities 5
Balance Sheet 6 to 7
Notes to the Financial Statements 8 to 14
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ACTS OF FAITH MINISTRIES LIMITED (REGISTERED NUMBER: 05724253)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2022
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 August 2022. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement 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 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The objects of the organisation as adopted on 5 February 2020 are for the benefit of the public to:
Advance the Christian Faith in accordance with the statement of beliefs appearing in the schedule hereto in the county of Bedfordshire and in such other parts of the United Kingdom or the world as the trustees may from time to time think fit.
Relieve persons who are in conditions of need or hardship or who are aged or sick and to relieve the distress caused thereby in the said county and in such other parts of the United Kingdom or the world as the trustees may from time to time think fit
Promote and fulfil such other charitable purpose beneficial to the community in the said county and in such other parts of the United Kingdom of the world as the trustees may from may from time to time think fit.
This includes
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Holding regular worship services to promote public benefit of the Christian faith in the community
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Holding women's and men's meetings including guidance on issues such as raising families and marriage
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Holding young people's meetings and activities
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Charity work- locally and internationally
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Other mission work
Significant activities
The activities of the charity are as follows:
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Sunday services
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Leader's weekly prayer meetings
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Tuesday Bible meeting
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Ministering to people in their home
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Charity work
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School of prophets
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Youth meetings
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Wailing women meetings
Public benefit
The trustees have regard to the Charity Commission guidance on public benefit in section 4 of the Charities Act.
Volunteers
The charity relies on a significant number of volunteers for bot administrative and pastoral support. The trustees are unable to quantify the monetary value of this support with any assured accuracy.
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ACTS OF FAITH MINISTRIES LIMITED (REGISTERED NUMBER: 05724253)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2022
ACHIEVEMENT AND PERFORMANCE
Charitable activities
Prayer Rally launched in November 2020 has continued to empower through the Bible and prayer and has continue to contribute to ministry finances.
Studio - Following the proposal of having a studio. Equipment was purchased and the studio was built which has benefitted reaching out both locally and internationally to those who can't physically be present in a church/venue for teaching or training. The studio has also been used to develop people especially the young ones with talents such as music, IT, Presenting, Public Speaking etc.
We continue to experience personal development of individuals who have stepped up to be involved in Teaching during Bible Study, Moderating on the Prayer Rally, Teaching on the Prayer Rally
We have managed to continue helping people locally and internationally on mental health issues and counselling using Zoom and other social media platform.
We have also seen an increase in young people participating in different departments of the church such as choir, live streaming, playing instruments (keyboard etc) and this has encouraged their parents to come out and motivate them.
The organisation continued to offer financial support to children through the Hope of a Child project.
FINANCIAL REVIEW
Financial position
Total reserves at 31 August 2022 amounted to (2021: 83,702) of which (2021: unrestricted.
were
Principal funding sources
Monies come by way of donations from individuals from both within and outside of the UK including those who worship at the church.
Reserves policy
The charity intends to increase unrestricted funds which are the reserves of the charity at about three months of unrestricted expenditure in case of any emergency expenditures that may rise from time to time.
The aftereffects of Covid 19 have continued to be felt with Church attendance Numbers still low, people losing jobs, companies closing etc which resulted not only in declining of church members but also offerings locally. However we remain committed to work to achieve the organisation's agreed aims and objectives. We have been able to maintain a healthy level of liquid funds which will allow the organisation to operate comfortably for the foreseeable future.
FUTURE PLANS
Following tests, surveys and meetings with the consultant to committing to leasing of the building, it was decided that the building was not suitable due to issues such as asbestos etc. The organisation decided to continue renting for worship venue, however due to breakdown of ventilation equipment which was taking long to be sorted, it was decided to rent another building for the same amount. The organisation will continue to find other means to raise funds due to decline of members following lockdown. The organisation has placed professional people in place who have volunteered to help people with mental health, loneliness as a strategy to encourage them to attend church and mix with others as the country following the after effects of Covid 19.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Recruitment and appointment of new trustees
Trustees are appointed from the worshipping congregation in accordance with the Articles of Association.
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ACTS OF FAITH MINISTRIES LIMITED (REGISTERED NUMBER: 05724253)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2022
STRUCTURE, GOVERNANCE AND MANAGEMENT Organisational structure
The trustees meet on a regular basis to consider all aspects of the charities activities.
The trustees delegate the operational issues to the leadership team. The leadership team is made up of the trustees together with the Abel Kungu the Religious Minister, Harold Curson, Daphne Curson and Claver Lukombo.
Deacons have been appointed to oversee the welfare and pastoral needs of church members. They are supported in their roles by Elders.
Risk management
The trustees have a duty to identify 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 organisation has assessed all the major risks it is exposed to particularly those related to operations and finances due to Covid 19 and are putting systems in place to mitigate major risks.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
05724253 (England and Wales)
Registered Charity number
1169902
Registered office
38 Keysoe Road Bedford MK44 2DZ
Trustees
K Chahal C Lukombo (resigned 10.11.21) G Madziva M Chohan
Company Secretary
G Madziva
Independent Examiner
Wright Connections Limited Bedford I-Lab Priory Business Park Stannard Way Bedford Bedfordshire MK44 3RZ
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
29/08/2023
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
.......................................................................... G Madziva - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ACTS OF FAITH MINISTRIES LIMITED
Independent examiner's report to the trustees of Acts of Faith Ministries Limited ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 August 2022.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
Independent examiner's statement
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:
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accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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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 examination; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice 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 102)).
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.
Suzanne Goodson BSc FCA
Wright Connections Limited Bedford I-Lab Priory Business Park Stannard Way Bedford Bedfordshire MK44 3RZ
Date: .30 August 2023
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ACTS OF FAITH MINISTRIES LIMITED
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 AUGUST 2022
| 31.8.22 Unrestricted Restricted Total fund funds funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 2 61,874 9,296 71,170 Charitable activities 4 Advancement of Christian Religion 1,713 1,470 3,183 Investment income 3 - 14 14 Total 63,587 10,780 74,367 EXPENDITURE ON Charitable activities 5 Advancement of Christian Religion 41,351 5,586 46,937 NET INCOME 22,236 5,194 27,430 RECONCILIATION OF FUNDS Total funds brought forward 58,698 25,004 83,702 TOTAL FUNDS CARRIED FORWARD 80,934 30,198 111,132 |
31.8.21 Total funds 80,522 8,875 3 89,400 41,916 47,484 36,218 83,702 |
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The notes form part of these financial statements
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ACTS OF FAITH MINISTRIES LIMITED (REGISTERED NUMBER: 05724253)
BALANCE SHEET 31 AUGUST 2022
| Unrestricted Restricted fund funds Notes FIXED ASSETS Tangible assets 13 13,881 - CURRENT ASSETS Debtors 14 10,451 - Cash at bank 69,907 30,198 80,358 30,198 CREDITORS Amounts falling due within one year 15 (13,305) - NET CURRENT ASSETS 67,053 30,198 TOTAL ASSETS LESS CURRENT LIABILITIES 80,934 30,198 NET ASSETS 80,934 30,198 FUNDS 16 Unrestricted funds Restricted funds TOTAL FUNDS |
31.8.22 Total funds 13,881 10,451 100,105 110,556 (13,305) 97,251 111,132 111,132 80,934 30,198 111,132 |
31.8.21 Total funds 4,336 805 91,879 92,684 (13,318) 79,366 83,702 83,702 58,698 25,004 83,702 |
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The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2022.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2022 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(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 notes form part of these financial statements
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ACTS OF FAITH MINISTRIES LIMITED (REGISTERED NUMBER: 05724253)
BALANCE SHEET - continued 31 AUGUST 2022
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
29/08/2023
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. G Madziva - Trustee
............................................. M Chohan - Trustee
The notes form part of these financial statements
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ACTS OF FAITH MINISTRIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022
1. 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 Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (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.
The financial statements are prepared on a going concern basis under the historical cost convention. The financial
General information
The charity is a private limited company (incorporated in England and Wales), limited by guarantee, as defined by the Companies Act 2006. The charity's operations are controlled from, and its records and accounts maintained in, its registered office 38 Keysoe Road, Bedford.
The nature of the charity's operations and principal activities are described in the Report of the Trustees.
The charity holds occasional mid week meetings and Sunday worship in the Harpur Suite in Bedford town centre.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to 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, it 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 that 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.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on cost
Assets are capitalised where it is expected that their useful life is in excess of 12 months and their cost is in excess
Taxation
The charity 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 the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Donated goods and services
Donated goods services are recognised in income at their fair value only when their economic benefit is probable, it can be measured reliably and the charity has control over the item.
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ACTS OF FAITH MINISTRIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2022
1. ACCOUNTING POLICIES - continued
Debtors and creditors receivable/payable within 1 year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.
Judgements
No judgements (apart from those involving estimates) have been made in the process of applying the above accounting policies.
2. DONATIONS AND LEGACIES
| 2. DONATIONS AND LEGACIES |
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|---|---|---|---|
| Donations | 31.8.22 31.8.21 71,170 80,522 |
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| 3. INVESTMENT INCOME Bank interest received |
31.8.22 31.8.21 14 3 |
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| 4. INCOME FROM CHARITABLE ACTIVITIES Activity Bible school Advancement of Christian Religion Donations restricted Advancement of Christian Religion |
31.8.22 31.8.21 1,713 8,875 1,470 - |
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| 3,183 8,875 |
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| 5. CHARITABLE ACTIVITIES COSTS Advancement of Christian Religion |
Direct Costs 44,772 |
Grant funding of activities (see note 6) 725 |
Support costs (see note 7) Totals 1,440 46,937 |
| 6. GRANTS PAYABLE Advancement of Christian Religion |
31.8.22 31.8.21 725 - |
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| All grants were payable to individuals. |
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ACTS OF FAITH MINISTRIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2022
7. SUPPORT COSTS
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|Governance|
|costs|
|Advancement of Christian Religion|1,440|
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8. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
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|---|---|---|
|31.8.22|31.8.21|
|Independent Examiners' Remuneration|720|720|
|Independent Examiner - other services|720|1,080|
|Depreciation - owned assets|3,858|936|
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9. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 August 2022 nor for the year ended 31 August 2021.
Trustees' expenses
All trustees are paid travel expenses and one is reimbursed for telephone costs incurred on behalf of the charity. Other members of the leadership team are also reimbursed for expenses incurred on behalf of the charity.
10. STAFF COSTS
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|31.8.22|31.8.21|
|Wages and salaries|16,500|10,796|
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|Social security costs|(5,011)|
|16,500|5,785|
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The charity received from HMRC after it made a successful claim during the year to 31 August 2021 for employment allowance for all years to date.
The average monthly number of employees during the year was as follows:
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|31.8.22|31.8.21|
|Religious Minister|1|1|
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ACTS OF FAITH MINISTRIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2022
11. EXCEPTIONAL ITEMS
All costs incurred up to 31 August 2021 in respect of the potential purchase of a lease were written off during that year as the project was deemed no longer financially viable following the results of surveys and consultations with experts in property matters. Total costs to 31 August 2021 amounted to which was spent from the Building Fund. A further was spent in the year to 31 August 2022 as a property consultant was appointed to consider the viability of the scheme.
12. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted Restricted fund funds INCOME AND ENDOWMENTS FROM Donations and legacies 68,307 12,215 Charitable activities Advancement of Christian Religion 8,875 - Investment income - 3 Total 77,182 12,218 EXPENDITURE ON Charitable activities Advancement of Christian Religion 25,719 16,197 NET INCOME/(EXPENDITURE) 51,463 (3,979) RECONCILIATION OF FUNDS Total funds brought forward 7,235 28,983 TOTAL FUNDS CARRIED FORWARD 58,698 25,004 13. TANGIBLE FIXED ASSETS Plant and Computer machinery equipment COST At 1 September 2021 4,080 1,807 Additions 13,403 - At 31 August 2022 17,483 1,807 DEPRECIATION At 1 September 2021 1,431 120 Charge for year 3,497 361 At 31 August 2022 4,928 481 NET BOOK VALUE At 31 August 2022 12,555 1,326 At 31 August 2021 2,649 1,687 |
Total funds 80,522 8,875 3 89,400 41,916 47,484 36,218 83,702 Totals 5,887 13,403 19,290 1,551 3,858 5,409 13,881 4,336 |
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ACTS OF FAITH MINISTRIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2022
14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
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|---|---|---|---|
| Other debtors Redonno Prepayments |
31.8.22 316 9,438 697 |
31.8.21 486 - 319 |
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| 10,451 | 805 | ||
| 15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Social security and other taxes Wages control account Credit facility Accrued expenses |
31.8.22 4,150 3,648 - 5,507 |
31.8.21 537 4 1,355 11,422 |
|
| 13,305 | 13,318 | ||
| 16. MOVEMENT IN FUNDS Unrestricted funds General fund Restricted funds Hope of a Child Foundation Building Fund Donations for others |
At 1.9.21 58,698 5,244 19,760 - |
Net movement in funds 22,236 2,291 2,158 745 |
At 31.8.22 80,934 7,535 21,918 745 |
| 25,004 | 5,194 | 30,198 | |
| TOTAL FUNDS | 83,702 | 27,430 | 111,132 |
| Net movement in funds, included in the above are as follows: Unrestricted funds General fund Restricted funds Hope of a Child Foundation Building Fund Donations for others |
Incoming resources 63,587 4,872 4,438 1,470 |
Resources expended (41,351) (2,581) (2,280) (725) |
Movement in funds 22,236 2,291 2,158 745 |
| 10,780 | (5,586) | 5,194 | |
| TOTAL FUNDS | 74,367 | (46,937) | 27,430 |
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ACTS OF FAITH MINISTRIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2022
16. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| At 1.9.20 Unrestricted funds General fund 7,235 Restricted funds Hope of a Child Foundation 3,363 Building Fund 25,620 |
Net movement in funds 51,463 1,881 (5,860) |
At 31.8.21 58,698 5,244 19,760 |
|---|---|---|
| 28,983 | (3,979) | 25,004 |
| TOTAL FUNDS 36,218 |
47,484 | 83,702 |
| Comparative net movement in funds, included in the above are as follows: Incoming resources Unrestricted funds General fund 77,182 Restricted funds Hope of a Child Foundation 5,563 Building Fund 6,655 |
Resources expended (25,719) (3,682) (12,515) |
Movement in funds 51,463 1,881 (5,860) |
| 12,218 | (16,197) | (3,979) |
| TOTAL FUNDS 89,400 |
(41,916) | 47,484 |
The Building Fund exists to raise money specifically for the purpose of purchasing a building from which the charity can operate. This would include regular worship and prayer meetings.
Hope of a Child fund was set up to enable child sponsorship to provide support for education, food and clothing to needy children including those orphaned and living with HIV. The support extended to Africa and Eastern Europe. Due to the exceptional circumstances of Covid 19 this support was extended to adults up to 31 August 2021.
Donations for others is a fund set up in response to specific appeals to give financial support to individuals in crisis throughout the world.
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ACTS OF FAITH MINISTRIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2022
17. RELATED PARTY DISCLOSURES
There were no other related party transactions.
18. FUNDS RECEIVED AS AGENT
During the year the charity received as agent in "love offerings" from individuals and institutions abroad which were paid to the intended recipient, Abel Kungu.
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