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← Christ Kingdom Evangelical Ministries

2023-09-13-accounts

CHARITY REGISTRATION NUMBER: 1172172

GENESIS CHRISTIAN LIFE FELLOWSHIP Charitable Incorporated Organisation Unaudited Financial Statements 13 September 2023

JAVY AND CO LTD

Chartered Certified Accountants 127 Sewell Road London SE2 9DH

GENESIS CHRISTIAN LIFE FELLOWSHIP

Charitable Incorporated Organisation

Financial Statements

Year ended 13 September 2023

Page
Trustees' annual report (incorporating the director's report) 1
Independent examiner's report to the trustees 10
Statement of financial activities (including income and
expenditure account) 11
Statement of financial position 12
Statement of cash flows 13
Notes to the financial statements 14
The following pages do not form part of the financial statements
Detailed statement of financial activities 23
Notes to the detailed statement of financial activities 24

GENESIS CHRISTIAN LIFE FELLOWSHIP

Charitable Incorporated Organisation

Trustees' Annual Report (Incorporating the Director's Report)

Year ended 13 September 2023

The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 13 September 2023.

Reference and administrative details

Registered charity name GENESIS CHRISTIAN LIFE FELLOWSHIP Charity registration number 1172172 Principal office and registered 42 Camden Road office Chafford Hundred Grays RM16 6PY United Kingdom The trustees Pastor Andrew Quartey Mrs Diana Quartey Rev Philip Ankrah Mr Nnaemeka Umeadi Sunil Kishore Persaud Independent examiner Mr Johnson Akpebu - FCCA, MBA(Fin) 127 Sewell Road London SE2 9DH

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GENESIS CHRISTIAN LIFE FELLOWSHIP

Charitable Incorporated Organisation

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 13 September 2023

Structure, governance and management

The organisation is a Charitable Incorporated Organisations (CIO), incorporated on 21 March 2017 at Charity Commission with registration number 1172172. The charity is governed by Charitable Incorporated Organisation (CIO) - Foundation which established the objects and powers of the charitable organisation. The Board of Trustees are responsible for all the legal and financial administration of the charity that Genesis CLF - is registered under. They are the final authority for the Trust when it comes to legal and financial decisions. The current board of Trustees consist of:

Andrew Quartey- Chair of Trustees Philip Ankrah - Trustee Diana Quartey - Trustee Meka Umeadi - Trustee Sunil Kishore Persaud- Trustee

Organisational Structure

The Leadership Team is responsible for the spiritual and administrative oversight of Genesis CLF - with all its functional components. They act as the final authority with regards to spiritual matters and work alongside the Trustees of Genesis CLF to ensure proper governance in an ex officio capacity. The Leadership Team as at 13th September 2020 are:

Recruitment and Appointment of Trustees

The trustees of the organisation are also Charity Trustees for the purpose of charity law. Appointment of trustees were initially by recommendation of the general council of the church and then approved by the church members and the pastoral boards.

Trustees Induction and Training

Most trustees are familiar with the workings of the church and charity being drawn from long-standing church members and Christians from other denominations that have a skill set to offer and an empathy with our core values. An information pack has been prepared from Charity Commission signpost through the commissions guide " the Essential Trustee" this is given to all new Trustees couple with training seminars. New trustees are invited and encourage to attend a series of short training sessions led by the Chair of the trustees. These covers: The Obligation of trustees, The main documents of the charity - CIO Foundation, The Charities Financial Statements and the future plans and objectives.

Risks 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 assurance against fraud and error. The Trustees is ultimately responsible for the system of internal control and for reviewing its effectiveness. The Trustees has reviewed the effectiveness of the system of internal controls, it has reviewed and updated the process for identifying and evaluating the major risks affecting the charity and the policies and procedures by which risks are managed. The Core leaders are responsible for the identification and evaluation of significant risks applicable to their areas of business together with the design and operation of suitable controls. These risks are assessed on a continuing basis and may be associated with a variety of internal or external control sources including control breakdowns, disruptions in

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GENESIS CHRISTIAN LIFE FELLOWSHIP

Charitable Incorporated Organisation

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 13 September 2023

information systems and regulatory requirements.

Related Party

Since 1st January 2017 Genesis CLF have been officially decentralised from CLF Global (CLF) - which also includes City Faith Ministries Trust (CFMT) and for the purposes of this report any reference to CLF will also include CFMT as they are the same entity), meaning that we are no longer financially and administratively dependant on CFMT's central funds or head office.

Genesis CLF, in addition to all existing CLF churches and ministries became responsible for their own legal, financial and administrative affairs, whilst remaining within the CLF family of churches and ministries. CFMT continue to act as Genesis CLF 's umbrella charity.

Genesis CLF- met the following criteria in order to be recognised as a church decentralised from CFMT and continue to operate under the following:

  1. Recognise the apostolic leadership of the Senior Eldership in the UK and are willing to submit to their leadership as outlined in CFMT's constitution

  2. Acknowledge their membership of CLF on their website, letterheads, formal documents and include the CLF name in all their publicity

  3. Have their own pastor(s) and are submitted to the CLF Eldership in the UK and their delegated officers worldwide

  4. Are financially responsible for all their affairs and are willing to fulfil their financial obligations to CLF worldwide: " A recommended 10% of tithes from local Churches in the UK to be sent to Head office monthly (details of this are noted within our accounts for 2018) and 5% contribution to CLM.

  5. Have a formal membership of 15-20 or more adults. Formal members of a CLF Church are those members who have completed CLF's membership orientation course and have received the right-hand of fellowship.

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GENESIS CHRISTIAN LIFE FELLOWSHIP

Charitable Incorporated Organisation

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 13 September 2023

Objectives and activities

Trustees Report Charity's Public Benefit The main aims and Objectives of the charity is :

  1. The advancement of the Christian religion and Christian activities in United Kingdom and the world.

Genesis CLF is a family church and registered charity committed to serving the community, inspired by our faith in Jesus Christ and a desire to live and share the good news of our faith with our community. We are a non-denominational Church and a member of the Evangelical Alliance (UK). There is only one way to save the world, and it is through Jesus Christ in John 3:16 the bible says for God so loved the world that he gave His only begotten son that who so ever believes in him should not perish but have everlasting live. We believe that no man can save the world other than through Jesus the bible says no one can come to the farther except through the Son Jesus. Therefore, Genesis CLF is committed and passionate about continuing the work that Jesus began, the recovery of sight to the poor, healing the sick, setting the captives free from bondage, healing the broken-hearted and reaching its community with the Good news of Jesus Christ. John 14;12, Luke 14:15-16

Our Mission

Loving God, raising fruitful disciples and advancing the kingdom. The scripture that underpins our mission is: 'Proverbs 8:35 - For those who find me find life and receive favour from the LORD'

Our Vision

Our vision is that we are a church that believes passionately in discipleship making movement. (DMM)

Our core values

Our core values are those ideals we are unwilling to compromise as we fulfil our purpose.

They are derived from our mission and embrace the following:

Genesis CLF uses both its corporate and local vision (i.e. corporate vision: "Making an impact" and local vision: "Raising a passionate follower of Jesus Christ with a conviction of discipleship making movement and divine fruitfulness, meaning wining souls and discipling them to do the same, being fruitful in family life, personal life and in do so advance the Kingdom of God.

Genesis CLF is a mission church and plans to reach the world with the gospel of Jesus. Our strategy

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GENESIS CHRISTIAN LIFE FELLOWSHIP

Charitable Incorporated Organisation

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 13 September 2023

is to plant churches were ever an opportunity arises and with a multiplication vision, which means planting churches that also commits to panting other churches and empowers them to do the same.

These main active components of Genesis Christian Life Fellowship (Genesis CLF) in 2023 were: outreach, discipleship, fellowship, prayer and special services as outlined below:

Outreach

I wanted to take this opportunity to update you on the progress we have made in reaching out to our community and life groups to share the gospel of Jesus throughout 2023. As you know, our focus has been on both collective and individual efforts to spread the message of faith and love

During the summer of 2023, we continued our active outreach initiatives, including street evangelism, leafleting in the Borough of Enfield, and engaging in friends and family evangelism. Additionally, we have been distributing free hamper coupons both on the streets and door to door to further our reach.

Our commitment to discipleship remains strong, and we are dedicated to nurturing and growing the faith of those in our community and life groups. We believe that by sharing the teachings of Jesus, we can make a positive impact and spread the message of hope and salvation.

Discipleship

in conjunction with our outreach emphasis and in accordance with New Testament doctrine.

In response to the need to make disciples and the Great Commission, we have launched several programs aimed at nurturing and equipping believers in their faith journey. These initiatives include small group Bible studies, discipleship classes, mentorship programs, and outreach activities designed to engage and empower our community to grow in their relationship with Christ.

Our focus is on providing a welcoming and nurturing environment where individuals can deepen their understanding of the Word of God, develop their spiritual gifts, and cultivate a heart for serving others.

Through these initiatives, we aim to build a solid foundation of faith and knowledge that will enable believers to live out their calling as followers of Christ.

Hamper Ministry: Providing practical support and care to the homeless, low-income families, single parents family’s and under privileged.

Our Sunday Children’s School is called G Kids Club: Genesis CLF believes that every child is unique and created in the image of God, therefore should be loved, valued and treasured.

In 2023 we recruited more volunteers when G Kids club experienced numerical growth.

Fellowship

In order to continue our emphasis to help develop relationships and to help cultivate a family spirit, we continued to hold regular fellowship throughout the year both in church members' homes and at our church address, namely: • Fruitful life group fellowship- once a month this was done face to face • Christmas Eve Service was done face to face • Women’s Fellowship

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GENESIS CHRISTIAN LIFE FELLOWSHIP

Charitable Incorporated Organisation

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 13 September 2023

Prayer

We continued our usual online prayer conference application in the form of daily Monday to Friday one hour morning prayer. Our half night prayer meeting resumed to face to face service

Special Services

We held a number of themed special services during 2023, namely:

" Easter Service

" Pre Christmas-Service

Strategic report

Our strategy speaks to us of how we pursue and fulfil our mission and vision. We pursue our vision through a commitment to:

  1. Prayer and the word of God

  2. Evangelism and missions

  3. Planting strong and dynamic churches with a multiplication vision.

  4. Plant fruitful life groups within each Church with an aim of raising fruitful disciples who makes disciples of Jesus and raises others to do the same.

  5. Membership Development Program (MDP) including CLTI - being rigorous and deliberate in how we develop our members over a seven-stage process:

Stage 1 - New Believers Course Stage 2 - New Members Orientation Course Stage 3 - Spiritual Maturity Course also Christian Discipleship Course Stage 4 - Ministry Orientation for Church Workers Stage 5 - Leadership Orientation course Stage 6 - Ministerial Training course Stage 7 - Ordination Process

The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

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GENESIS CHRISTIAN LIFE FELLOWSHIP

Charitable Incorporated Organisation

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 13 September 2023

Achievements and performance

The highlights of 2023 are those achievements and activities that we felt underpinned the mission and vision of Genesis CLF during that year. These included:

Numerical Growth

Attendance at our Sunday services during 2023 have been on average approximately 18-50 people made up of approximately 45 adults and 6-15 children. We have continued to address this through outreach, personal invitations and prayer

Genesis Sunday Hamper Program

Since launching this community project in 2023, we intended to hand over 250 hampers during the Christmas and new year, however we were only able to reach 450 families who turned up to the Saturday and Sunday services to receive the hampers.

Locally, our focus has been. Biweekly evangelism opposite the church and some parts of Enfield during the Winter and Summer of 2023 and have also used a local food bank distribution in Enfield to hand over our free food hamper vouchers.

The main challenge appears to be increased in demand from the general public and lack of manpower due to hostility Secondly although we received community grant the demand increased as a result of financial support was still limited and still were unable to provide delivery service

We still need transportation to be able to deliver more food hampers to those families who are unable to attend and collect their hamper

We will continue to work on a strategy to help boost the project and work in partnership with Tesco food store, Neighbourly (Marks and Spencer’s & Aldi), Morrisons, local GPs, local schools, to help as voucher distributors and food-bank supporters.

Partnership Organisations and Ministries

In addition to Genesis CLF initiatives and activities, we continued to support and partner with the following organisations in conjunction with our mission: • Neighbourly (Marks and Spencer’s & Aldi) • Morrisons

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GENESIS CHRISTIAN LIFE FELLOWSHIP

Charitable Incorporated Organisation

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 13 September 2023

Financial review

The total incoming resources for the year have decreased by about 4.76% to £27,862 (2022 £29,253). The total resources expended has increased by about 2.05% to £29,602 (2022 £29,006). The deficit is £1,740 (2022 net surplus of £247). The trustees are truly grateful to the faithful members and visitors for their continued support of the charity.

Reserve Policy

The trustees recognise the need to maintain reserves. Unrestricted funds are needed to cover the day-to-day administration and support costs of the charity. It is a policy to hold reserves of approximately three months' expenditure in addition to any designated funds. Even though no formal policy is in place, they have always kept reserves at a level that exceeds the current periods running and administration expenses. Reserves funds are always maintained at levels that mitigate unexpected incidents including sudden increase in expenses, unexpected loss of income, uninsured losses or one-time nonrecurring expenses that build long term capacity.

Risk Management

The major risks to which the charity is exposed have been identified as the safeguarding the assets of charity and ensuring funds are applied for charitable purposes. Systems and strategies have been put in place to mitigate these risks. Income and expenditure are monitored through the setting of budgets which are compared with actual figures. Regular finance quarterly reports are given to members in the congregations

Plans for future periods

CFMT’s aim was to continue in its commitment to church development, church planting, ministries, missions and leadership development and its main emphasis for 2021 was “a year of Holy Spirit encounter.

Genesis CLF were encouraged to contextualise this emphasis locally.

Other areas of corporate goals and activity

CFMT Special Services:

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GENESIS CHRISTIAN LIFE FELLOWSHIP

Charitable Incorporated Organisation

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 13 September 2023

The trustees' annual report and the strategic report were approved on 11 September 2024 and signed on behalf of the board of trustees by:

Pastor Andrew Quartey Trustee

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GENESIS CHRISTIAN LIFE FELLOWSHIP

Charitable Incorporated Organisation

Independent Examiner's Report to the Trustees of GENESIS CHRISTIAN LIFE FELLOWSHIP

Year ended 13 September 2023

I report to the trustees on my examination of the financial statements of GENESIS CHRISTIAN LIFE FELLOWSHIP ('the charity') for the year ended 13 September 2023.

Responsibilities and basis of report

As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements 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 the 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:

  1. accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or

  2. the financial statements do not accord with those records; or

  3. the financial statements 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

  4. the financial statements 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.

Mr Johnson Akpebu - FCCA, MBA(Fin) Independent Examiner

127 Sewell Road London SE2 9DH

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GENESIS CHRISTIAN LIFE FELLOWSHIP

Charitable Incorporated Organisation

Statement of Financial Activities (including income and expenditure account)

Year ended 13 September 2023

2023 2022
Unrestricted Restricted
funds funds Total funds Total funds
Note £ £ £ £
Income and endowments
Donations and legacies 5 17,808 10,000 27,808 29,247
Investment income 6 54 – 54 6
──────── ──────── ──────── ────────
Total income 17,862 10,000 27,862 29,253
════════ ════════ ════════ ════════
Expenditure
Expenditure on charitable activities 7,8 19,983 9,619 29,602 29,006
──────── ──────── ──────── ────────
Total expenditure 19,983 9,619 29,602 29,006
════════ ════════ ════════ ════════
──────── ──────── ──────── ────────
Net (expenditure)/income and net
movement in funds (2,121) 381 (1,740) 247
════════ ════════ ════════ ════════
Reconciliation of funds
Total funds brought forward 20,204 – 20,204 19,957
──────── ──────── ──────── ────────
Total funds carried forward 18,083 381 18,464 20,204
════════ ════════ ════════ ════════

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The notes on pages 14 to 21 form part of these financial statements.

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GENESIS CHRISTIAN LIFE FELLOWSHIP

Charitable Incorporated Organisation

Statement of Financial Position

13 September 2023

2023 2022
Note £ £
Fixed assets
Tangible fixed assets 13 2,019 2,692
Current assets
Debtors 14 – 824
Cash at bank and in hand 17,645 17,888
──────── ────────
17,645 18,712
Creditors: amounts falling due within one year 15 1,200 1,200
──────── ────────
Net current assets 16,445 17,512
──────── ────────
Total assets less current liabilities 18,464 20,204
──────── ────────
Net assets 18,464 20,204
════════ ════════
Funds of the charity
Restricted funds 381 –
Unrestricted funds 18,083 20,204
──────── ────────
Total charity funds 16 18,464
════════		 20,204
════════

For the year ending 13 September 2023 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

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

These financial statements were approved by the board of trustees and authorised for issue on 11 September 2024, and are signed on behalf of the board by:

Pastor Andrew Quartey Trustee

The notes on pages 14 to 21 form part of these financial statements.

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GENESIS CHRISTIAN LIFE FELLOWSHIP

Charitable Incorporated Organisation

Statement of Cash Flows

Year ended 13 September 2023

2023 2022
£ £
Cash flows from operating activities
Net (expenditure)/income (1,740) 247
Adjustments for:
Depreciation of tangible fixed assets 673 897
Other interest receivable and similar income (54) (6)
Interest payable and similar charges 8 18
Changes in:
Trade and other debtors 824 1,658
─────── ───────
Cash generated from operations (289) 2,814
Interest paid (8) (18)
Interest received 54 6
──── ───────
Net cash (used in)/from operating activities (243) 2,802
════ ═══════
Cash flows from investing activities
Purchase of tangible assets – (2,637)
──── ───────
Net cash used in investing activities – (2,637)
════ ═══════
Net (decrease)/increase in cash and cash equivalents (243) 165
Cash and cash equivalents at beginning of year 17,888 17,723
──────── ────────
Cash and cash equivalents at end of year 17,645 17,888
════════ ════════

The notes on pages 14 to 21 form part of these financial statements.

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GENESIS CHRISTIAN LIFE FELLOWSHIP

Charitable Incorporated Organisation

Notes to the Financial Statements

Year ended 13 September 2023

1. General information

The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is 42 Camden Road, Chafford Hundred, Grays, RM16 6PY, United Kingdom.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Companies Act 2006.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

There are no material uncertainties about the charity's ability to continue.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements did not require management to make any judgements, estimates and assumptions that affect the amounts reported.

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.

Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.

Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.

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GENESIS CHRISTIAN LIFE FELLOWSHIP

Charitable Incorporated Organisation

Notes to the Financial Statements (continued)

Year ended 13 September 2023

3. Accounting policies (continued)

Incoming resources

All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:

Resources expended

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

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GENESIS CHRISTIAN LIFE FELLOWSHIP

Charitable Incorporated Organisation

Notes to the Financial Statements (continued)

Year ended 13 September 2023

3. Accounting policies (continued)

Tangible assets (continued)

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Equipment - 25% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.

Financial instruments

A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.

Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.

Debt instruments are subsequently measured at amortised cost.

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GENESIS CHRISTIAN LIFE FELLOWSHIP

Charitable Incorporated Organisation

Notes to the Financial Statements (continued)

Year ended 13 September 2023

3. Accounting policies (continued)

Financial instruments (continued)

Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.

Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Limited by guarantee

The organisation is a Charity Incorporated Organisation

5. Donations and legacies

Unrestricted Restricted Total Funds
Funds Funds 2023
£ £ £
Donations
Offerings 2,625 – 2,625
Tithes 13,264 – 13,264
HMRC Charity Gift Aid 1,919 – 1,919
Grants
Main Grants – 10,000 10,000
──────── ──────── ────────
17,808 10,000 27,808
════════ ════════ ════════

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GENESIS CHRISTIAN LIFE FELLOWSHIP

Charitable Incorporated Organisation

Notes to the Financial Statements (continued)

Year ended 13 September 2023

5. Donations and legacies (continued)

Unrestricted Restricted Total Funds
Funds Funds 2022
£ £ £
Donations
Offerings 5,478 – 5,478
Tithes 18,049 – 18,049
HMRC Charity Gift Aid 5,720 – 5,720
Grants
Main Grants – – –
──────── ──── ────────
29,247 – 29,247
════════ ════ ════════
6. Investment income
Unrestricted Total Funds Unrestricted Total Funds
Funds 2023 Funds 2022
£ £ £ £
Bank interest receivable 54 54 6 6
════ ════ ════ ════
7. Expenditure on charitable activities by fund type
Unrestricted Restricted Total Funds
Funds Funds 2023
£ £ £
Evangelism and Events 10,523 6,126 16,649
Evangelism and Donations 750 – 750
Stewardship and Donations 8,101 3,493 11,595
Support costs 609 – 608
──────── ─────── ────────
19,983 9,619 29,602
════════ ═══════ ════════
Unrestricted Restricted Total Funds
Funds Funds 2022
£ £ £
Evangelism and Events 16,835 – 16,835
Evangelism and Donations 1,902 – 1,902
Stewardship and Donations 9,651 – 9,651
Support costs 618 – 618
──────── ──── ────────
29,006 – 29,006
════════ ════ ════════

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GENESIS CHRISTIAN LIFE FELLOWSHIP

Charitable Incorporated Organisation

Notes to the Financial Statements (continued)

Year ended 13 September 2023

8. Expenditure on charitable activities by activity type

Activities
undertaken Total funds Total fund
directly Support costs 2023 2022
£ £ £ £
Evangelism and Events 16,649 – 16,649 16,835
Evangelism and Donations 750 – 750 1,902
Stewardship and Donations 11,595 – 11,595 9,651
Governance costs – 608 608 618
──────── ──── ──────── ────────
28,994 608 29,602 29,006
════════ ════ ════════ ════════
Net (expenditure)/income
Net (expenditure)/income is stated after charging/(crediting):
2023 2022
£ £
Depreciation of tangible fixed assets 673 897
════ ════
Independent examination fees
2023 2022
£ £
Fees payable to the independent examiner for:
Independent examination of the financial statements 600
════		 600
════

9. Net (expenditure)/income

10. Independent examination fees

11. Staff costs

The average head count of employees during the year was 5 (2022: 5). The average number of full-time equivalent employees during the year is analysed as follows:

2023 2022
No. No.
Number of staff 5 5
════ ════

No employee received employee benefits of more than £60,000 during the year (2022: Nil).

12. Trustee remuneration and expenses

No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.

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GENESIS CHRISTIAN LIFE FELLOWSHIP

Charitable Incorporated Organisation

Notes to the Financial Statements (continued)

Year ended 13 September 2023

13. Tangible fixed assets

Equipment
£
Cost
At 14 September 2022 and 13 September 2023 3,907
═══════
Depreciation
At 14 September 2022 1,215
Charge for the year 673
───────
At 13 September 2023 1,888
═══════
Carrying amount
At 13 September 2023 2,019
═══════
At 13 September 2022 2,692
═══════
14. Debtors
2023 2022
£ £
Other debtors – 824
════ ════
15. Creditors: amounts falling due within one year
2023 2022
£ £
Accruals and deferred income 1,200 1,200
═══════ ═══════

16. Analysis of charitable funds

Unrestricted funds

Unrestricted funds
At At
14 September 13 Septembe
2022 Income Expenditure r 2023
£ £ £ £
General funds 20,204 17,862 (19,983) 18,083
════════ ════════ ════════ ════════
At At
14 September 13 September
2021 Income Expenditure 2022
£ £ £ £
General funds 19,957 29,253 (29,006) 20,204
════════ ════════ ════════ ════════

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GENESIS CHRISTIAN LIFE FELLOWSHIP

Charitable Incorporated Organisation

Notes to the Financial Statements (continued)

Year ended 13 September 2023

16. Analysis of charitable funds (continued)

Restricted funds

Restricted funds
At At
14 September 13 Septembe
2022 Income Expenditure r 2023
£ £ £ £
Restricted Fund – 10,000 (9,619)
381
════ ════════ ═══════ ════
At At
14 September 13 September
2021 Income Expenditure 2022
£ £ £ £
Restricted Fund – – – –
════ ════ ════ ════
Analysis of net assets between funds
Unrestricted Total Funds
Funds 2023
£ £
Tangible fixed assets 2,019 2,019
Current assets 17,645 17,645
Creditors less than 1 year (1,200)
(1,200)
──────── ────────
Net assets 18,464 18,464
════════ ════════
Unrestricted Total Funds
Funds 2022
£ £
Tangible fixed assets 2,692 2,692
Current assets 18,712 18,712
Creditors less than 1 year (1,200)
(1,200)
──────── ────────
Net assets 20,204 20,204
════════ ════════

17. Analysis of net assets between funds

18. Analysis of changes in net debt

At At
14 Sep 2022 Cash flows 13 Sep 2023
£ £ £
Cash at bank and in hand 17,888 (243) 17,645
════════ ════ ════════

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GENESIS CHRISTIAN LIFE FELLOWSHIP

Charitable Incorporated Organisation

Management Information

Year ended 13 September 2023

The following pages do not form part of the financial statements.

- 22 -

GENESIS CHRISTIAN LIFE FELLOWSHIP

Charitable Incorporated Organisation

Detailed Statement of Financial Activities

Year ended 13 September 2023

2023 2022
£ £
Income and endowments
Donations and legacies
Offerings 2,625 5,478
Tithes 13,264 18,049
HMRC Charity Gift Aid 1,919 5,720
Main Grants 10,000 –
──────── ────────
27,808 29,247
──────── ────────
Investment income
Bank interest receivable 54 6
──── ────
──────── ────────
Total income 27,862 29,253
════════ ════════
Expenditure
Expenditure on charitable activities
Rent 4,176 3,894
Insurance 1,321 1,369
Other motor/travel costs 2,467 3,978
Legal and professional fees 868 846
Telephone 1,292 720
Other office costs 2,422 4,900
Depreciation 673 897
Other interest payable and similar charges 8 18
Evangelism and Donations 7,394 5,406
Publicity and Hospitality 5,526 3,490
Honorarium 50 100
Leadership Training and Music 3,405 3,388
──────── ────────
29,602 29,006
──────── ────────
──────── ────────
Total expenditure 29,602 29,006
════════ ════════
──────── ────────
Net (expenditure)/income (1,740) 247
════════ ════════

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GENESIS CHRISTIAN LIFE FELLOWSHIP

Charitable Incorporated Organisation

Notes to the Detailed Statement of Financial Activities

Year ended 13 September 2023

2023 2022
£ £
Expenditure on charitable activities
Evangelism and Events
Activities undertaken directly
Direct charitable activity - rent 4,176 3,894
Direct charitable activity - insurance 1,321 1,369
Direct charitable activity - other motor/travel costs 2,467 3,528
Direct charitable activity - legal and professional fees 268 246
Direct charitable activity - Website and telephone 1,292 583
Direct charitable activity - other office costs 2,422 4,900
Direct charitable activity - depreciation 673 897
Direct charitable activity - Evangelism and social events 2,528 479
Direct charitable activity - Publicity and Advertising 664 70
Direct charitable activity - Honorarium 50 100
Direct charitable activity - Leadership Training 788 769
──────── ────────
16,649 16,835
──────── ────────
Evangelism and Donations
Activities undertaken directly
Direct charitable activity - Welfare 750 1,902
──── ───────
Stewardship and Donations
Activities undertaken directly
Direct charitable activity - other motor/travel costs – 450
Direct charitable activity - telephone – 137
Direct charitable activity - Donation to charitable organisation 4,866 4,927
Direct charitable activity - Hospitality 4,112 1,518
Direct charitable activity - Musical and Sound Team 2,617 2,619
──────── ───────
11,595 9,651
──────── ───────
Governance costs
Governance costs - accountancy fees 600 600
Governance costs - other finance costs 8 18
──── ────
608 618
──── ────
──────── ────────
Expenditure on charitable activities 29,602 29,006
════════ ════════

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