2023-08-31-accounts - Acts Of Faith Ministries Limited

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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 2023

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 2023

		Page
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	15

ACTS OF FAITH MINISTRIES LIMITED (REGISTERED NUMBER: 05724253)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2023

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 2023. 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

Holding regular worship services to promote public benefit of the Christian faith in the community
Holding women's and men's meetings including guidance on issues such as raising families and marriage
Holding young people's meetings and activities
Charity work- locally and internationally
Other mission work

Significant activities

The activities of the charity are as follows:

Sunday services
Leader's weekly prayer meetings
Tuesday Bible meeting
Ministering to people in their home
Charity work
School of prophets
Youth meetings
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 both 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 2023

ACHIEVEMENT AND PERFORMANCE

Charitable activities

The Australia mission which was a success considering it was new territory to reach out.

Souls were saved and people were delivered from different addictions.
Marriages were restored.
Young people were transformed.
People from different communities now regularly gather to assist each other, pray for each other etc.
Counselling was done with single parents and children raised from dysfunctional backgrounds.

The mission was extended to the Northern Territory (Darwin) due to the need of helping some Aborigines people who are addicted to alcoholism & drugs, dysfunctional families etc.

Registration of the ministry in Kenya has now been done in Kenya to continue the expansion of the charity objectives locally due to the high need of the communities. Pastors and a team are already set on the ground to continue affecting communities.

Hope of a Child continues to impact different nations. Yolanda from Zimbabwe completed her studies and can now assist her mother and young siblings with finances especially school fees. Eddie from Burundi will be graduating in 2024 as an Architect.

Community day has proved to be a success as we have people from different backgrounds and challenges attend. Testimonials of people who have like addiction, alcoholism, drugs etc.

The charity is still looking to lease or purchase a building. This will help avoiding change of venue time and gain which has been impacting attendance of church and activities. Different groups meet at the Studio which limits attendance due to its size.

FINANCIAL REVIEW

Financial position

Total reserves at 31 August 2023 amounted to £89,258 (2022: £111,132) of which £55,115 (2022: £80,934) were unrestricted.

During the year the charity spent a total of £16,420 (including air fares) on a mission to Australia. £2,017 of donations were received to set against these costs meaning £14,403 was spent from unrestricted reserves.

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

The charity is still looking to purchase or lease a building. Funds continue to be raised for this project. There is planning to maximise using the Studio for the different groups especially young people who are being mentored, counselled and develop in different aspects such as learning to play instruments, career guidance, young leadership training etc. The charity will continue impacting the community by helping with food, transport, Translation etc

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.

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ACTS OF FAITH MINISTRIES LIMITED (REGISTERED NUMBER: 05724253)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2023

STRUCTURE, GOVERNANCE AND MANAGEMENT

Recruitment and appointment of new trustees

Trustees are appointed from the worshipping congregation in accordance with the Articles of Association.

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 charity has assessed all the major risks it is exposed to particularly those related to operations and finances.

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 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.

Approved by order of the board of trustees on 22 May 2024 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 2023.

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:

accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or 2. 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 examination; or
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

24 May 2024

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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 2023

31.8.23 Unrestricted Restricted Total fund funds funds Notes £ £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 40,198 4,921 45,119 Charitable activities 4 Advancement of Christian Religion 525 2,877 3,402 Investment income 3 - 158 158 Total 40,723 7,956 48,679 EXPENDITURE ON Charitable activities 5 Advancement of Christian Religion 66,542 4,011 70,553 NET INCOME/(EXPENDITURE) (25,819) 3,945 (21,874) RECONCILIATION OF FUNDS Total funds brought forward 80,934 30,198 111,132 TOTAL FUNDS CARRIED FORWARD 55,115 34,143 89,258	31.8.22 Total funds £ 71,170 3,183 14
	74,367
	46,937
	27,430 83,702
	111,132

The notes form part of these financial statements

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ACTS OF FAITH MINISTRIES LIMITED (REGISTERED NUMBER: 05724253)

BALANCE SHEET 31 AUGUST 2023

Unrestricted Restricted fund funds Notes £ £ FIXED ASSETS Tangible assets 13 10,582 - CURRENT ASSETS Debtors 14 1,920 - Cash at bank 53,573 34,143 55,493 34,143 CREDITORS Amounts falling due within one year 15 (10,960) - NET CURRENT ASSETS 44,533 34,143 TOTAL ASSETS LESS CURRENT LIABILITIES 55,115 34,143 NET ASSETS 55,115 34,143 FUNDS 16 Unrestricted funds Restricted funds TOTAL FUNDS	31.8.23 Total funds £ 10,582 1,920 87,716 89,636 (10,960) 78,676 89,258 89,258 55,115 34,143 89,258	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

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 in accordance with Section 476 of the 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 notes form part of these financial statements

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ACTS OF FAITH MINISTRIES LIMITED (REGISTERED NUMBER: 05724253)

BALANCE SHEET - continued 31 AUGUST 2023

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 22 May 2024 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 2023

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 statements are prepared in sterling which is the functional currency of the charity and rounded to the nearest £.

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 charity holds occasional mid week meetings and Sunday worship in the Harpur Suite in Bedford town centre. It also holds meetings, including those via the internet, in a studio at 1A Hammond Road Bedford.

The nature of the charity's operations and principal activities are described in the Report of the Trustees.

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 of £500. Gross cost is measured at initial cost.

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.

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ACTS OF FAITH MINISTRIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2023

1. ACCOUNTING POLICIES - continued

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

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
			31.8.23	31.8.22
			£	£
	Donations		45,119	71,170
3.	INVESTMENT INCOME
			31.8.23	31.8.22
			£	£
	Bank interest received		158	14
4.	INCOME FROM CHARITABLE	ACTIVITIES
			31.8.23	31.8.22
		Activity	£	£
	Bible school	Advancement of Christian Religion	525	1,713
	Donations restricted	Advancement of Christian Religion	2,877	1,470
			3,402	3,183

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ACTS OF FAITH MINISTRIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2023

5. CHARITABLE ACTIVITIES COSTS

6.

Advancement of Christian Religion GRANTS PAYABLE Advancement of Christian Religion All grants were payable to individuals.	Support Direct costs (see Costs note 7) Totals £ £ £ 68,993 1,560 70,553 31.8.23 31.8.22 £ £ - 725	Totals £ 70,553	Totals £ 70,553

7. SUPPORT COSTS

SUPPORT COSTS
		Governance
		costs
		£
Advancement of Christian Religion		1,560
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
	31.8.23	31.8.22
	£	£
Independent Examiners' Remuneration	720	720
Independent Examiner - other services	840	720
Depreciation - owned assets	3,998	3,858

8. NET INCOME/(EXPENDITURE)

9. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 August 2023 nor for the year ended 31 August 2022.

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.

See Note 12 regarding flights to Australia in respect of Gonai Madziva and her family.

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ACTS OF FAITH MINISTRIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2023

10. STAFF COSTS

STAFF COSTS
	31.8.23	31.8.22
	£	£
Wages and salaries	23,710	16,500
	23,710	16,500

Abel Kungu, the Religious Minister, is married to Gonai Madziva who is a trustee. He is considered to be key management.

The average monthly number of employees during the year was as follows:

11.

		31.8.23	31.8.22
Religious Minister		1	1
No employees received emoluments in excess of £60,000.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL	ACTIVITIES
	Unrestricted	Restricted	Total
	fund	funds	funds
	£	£	£
INCOME AND ENDOWMENTS FROM
Donations and legacies	61,874	9,296	71,170
Charitable activities
Advancement of Christian Religion	1,713	1,470	3,183
Investment income	-	14	14
Total	63,587	10,780	74,367
EXPENDITURE ON
Charitable activities
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

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ACTS OF FAITH MINISTRIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2023

12. MISSION WORK

During the year the charity organised a mission trip to Australia which included a conference in Melbourne. All those who went on the trip were responsible for their own costs including flights and accommodation except for the Religious Minister, Abel Kungu, who is married to a trustee, Gonai Madziva. The flight cost for him and his immediate family was £8,380. No other costs were reimbursed to him or his family whilst on the trip which included flights paid by them to Darwin. They were given the use of a house and car for the duration of their stay from an individual.

Other costs of the conference amounted to £8,040. Donations of £2,017 were received to cover some of these costs.

Abel Kungu also went to Belgium during the year.

The charity paid costs of £389 in order to register as a society in Kenya.

13. TANGIBLE FIXED ASSETS

13.	TANGIBLE FIXED ASSETS
		Plant and	Computer
		machinery	equipment	Totals
		£	£	£
	COST
	At 1 September 2022	17,483	1,807	19,290
	Additions	-	699	699
	At 31 August 2023	17,483	2,506	19,989
	DEPRECIATION
	At 1 September 2022	4,928	481	5,409
	Charge for year	3,497	501	3,998
	At 31 August 2023	8,425	982	9,407
	NET BOOK VALUE
	At 31 August 2023	9,058	1,524	10,582
	At 31 August 2022	12,555	1,326	13,881
14.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
			31.8.23	31.8.22
			£	£
	Other debtors		316	316
	Redonno		-	9,438
	Stripe		407	-
	Prepayments		1,197	697
			1,920	10,451

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ACTS OF FAITH MINISTRIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2023

15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

	31.8.23	31.8.22
	£	£
Social security and other taxes	1,778	4,150
Wages control account	1,337	3,648
Accrued expenses	7,845	5,507
	10,960	13,305

16. MOVEMENT IN FUNDS

Unrestricted funds General fund Restricted funds Hope of a Child Foundation Building Fund Donations for others TOTAL FUNDS 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 World Mission TOTAL FUNDS	At 1.9.22 £ 80,934 7,535 21,918 745 30,198 111,132 Incoming resources £ 40,723 3,613 1,466 860 2,017 7,956 48,679	Net movement At in funds 31.8.23 £ £ (25,819) 55,115 2,669 10,204 1,466 23,384 (190) 555 3,945 34,143 (21,874) 89,258 Resources Movement expended in funds £ £ (66,542) (25,819) (944) 2,669 - 1,466 (1,050) (190) (2,017) - (4,011) 3,945 (70,553) (21,874)	At 31.8.23 £ 55,115 10,204 23,384 555	At 31.8.23 £ 55,115 10,204 23,384 555
			34,143
			89,258
				3,945
				(21,874)

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ACTS OF FAITH MINISTRIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2023

16. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

		Net
		movement	At
	At 1.9.21	in funds	31.8.22
	£	£	£
Unrestricted funds
General fund	58,698	22,236	80,934
Restricted funds
Hope of a Child Foundation	5,244	2,291	7,535
Building Fund	19,760	2,158	21,918
Donations for others	-	745	745
	25,004	5,194	30,198
TOTAL FUNDS	83,702	27,430	111,132

Comparative net movement in funds, included in the above are as follows:

	Incoming	Resources	Movement
	resources	expended	in funds
	£	£	£
Unrestricted funds
General fund	63,587	(41,351)	22,236
Restricted funds
Hope of a Child Foundation	4,872	(2,581)	2,291
Building Fund	4,438	(2,280)	2,158
Donations for others	1,470	(725)	745
	10,780	(5,586)	5,194
TOTAL FUNDS	74,367	(46,937)	27,430

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.

Donations for others is a fund set up in response to specific appeals to give financial support to individuals in crisis throughout the world.

The World Mission Fund was set up to enable donors the opportunity to contribute towards the costs of specific missions that the charity may carry out.

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ACTS OF FAITH MINISTRIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2023

17. RELATED PARTY DISCLOSURES

Three trustees gave a total of £2,745 (2022: £4,000) in donations.

See note 12 for details of transactions relating to the Australian mission trip.

18. FUNDS RECEIVED AS AGENT

During the year the charity paid as agent £500 (2022: £1,679) to Abel Kungu which had been received as "love offerings" from individuals and institutions abroad.

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