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← House Of El-Shaddai International

2024-07-31-accounts

HOUSE OF EL-SHADDAI INTERNATIONAL

Registered Charity and Company Limited by Guarantee

FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31[ST] July 2024

Charity number: 1174489 Company number: 4254227 (England and Wales)

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HOUSE OF EL-SHADDAI INTERNATIONAL YEAR ENDED 31[ST] JULY 2024

Registered Charity Number : 1174489 Registered Company Number: 4254227

Principal address:

7 Newnham House High Road Loughton IG10 4JH

Directors and Trustees:

Revd J Collier R Dzworshie B P Ogedengbe V H Collier D Norman Olabanji Olatomirin

Governing document:

The organisation is operated under its Memorandum and Articles of Association.

Bankers:

Metro Bank

Independent Examiner and Accountant:

TACTS Accountant Chartered Certified Accountant 61 Fountains Crescent London, N14 6BD

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HOUSE OF EL-SHADDAI INTERNATIONAL

FINANCIAL ACCOUNTS

FOR YEAR ENDED 31[ST] JULY 2024

CONTENTS

Pages

7. Independent Examiners Report

8. Statement of Financial Activities

9. Balance Sheet

10-12. Notes to the Accounts

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HOUSE OF EL-SHADDAI INTERNATIONAL

Report of the Directors and Trustees for the year ended 31 July 2024

The trustees are pleased to present their annual directors’ report for the year ending 31[st] July 2024 which are also prepared to meet the requirements for a directors’ report and accounts for Companies Act purposes.

The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and 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 2015)

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its Memorandum and Articles of Association and constitutes a limited company, limited by guarantee as defined by the Companies Act 2006.

Recruitment and appointment of new trustees

The trustees are appointed by the board. The position of trustees is nominated and elected annually by members of the charity at the Annual General Meeting.

Induction and training of new trustees

New trustees are trained and inducted by the Charity’s full-time coordinator. Additional induction is also provided by a member of community development team of local voluntary action.

Organisation structure

The Company Charity is organised so that the Board of Trustees meet at least four times in every year to oversee the running of the charity. The charity has a part time coordinator/advice worker who oversees the day-to-day running of the charity and reports to the Trustees and also to ordinary members at the General Meeting. The day-to-day administration of grants and processing and handling of applications prior to consideration by the committee is delegated to the coordinator.

Charitable Activities

This year was a difficult year due the pandemic. We could see some families who faced hardship and we have supported those in financial difficulties and provided counselling support to alleviate mental health issues.

We get referrals from social services and we have supported the community as follows: -

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Trustees and their responsibilities

Charity trustees are the people who serve on the governing body of a charity. They may be known as trustees, directors, board members, governors or committee members. The principles and main duties are the same in all cases.

Trustees have, and must accept, ultimate responsibility for directing the affairs of a charity, and ensuring that it is solvent, well-run, and meeting the needs for which it has been set up.

Small Company Provisions

This report has been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.

Statement of Directors’ Responsibilities

The Companies Act 2006 requires the directors to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.

The directors are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the company.

Charity Objects

THE CHARITY'S OBJECT ("THE OBJECT") WHICH IS FOR THE PUBLIC BENEFIT IS THE ADVANCEMENT OF CHRISTIAN FAITH WORLDWIDE.

Our volunteers

House of El-Shaddai International is very involved in the community and relies on voluntary help. Around 10 volunteers assist with our on-going activities. We wish to thank our volunteers for their loyal support and contribution.

Risk management

The trustees have a risk management strategy which comprises:

● an annual review of the principal risks and uncertainties that the charity undertakes.

● the establishment of policies, systems and procedures to mitigate those risks identified in the annual review; and

● the implementation of procedures designed to minimise or manage any potential impact on the charity should those risks materialise.

The Trustees constantly review risks relevant to the charity. Any risks identified are reported to the Trustees and decisions made on how to minimise risk.

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Reserves policy and going concern

The Board has assessed the charity’s requirements for reserves in the light of the main risks to the organisation. As a result, the Board has approved a policy whereby the unrestricted funds not committed, should be held in reserve and maintained at a level which ensures that House of El-Shaddai International’s core activity could continue during a period of unforeseen difficulty. The target reserve amount represents at least 6 months’ (26 weeks) expenditure and will be reviewed annually.

Future Plan

The organisation will continue to fundraise to support its charitable objects.

We would like to thank all our Board Members Staff, volunteers, and all our service users who have given their energy and commitment to achieve our objectives.

Signed on behalf of the directors and trustees,

Revd Josephine Collier Trustee Date: 27/04/2025

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Independent examiner’s report to the trustees of House of El-Shaddai International

I report on the accounts of the company for the year ended 31[st] July 2024, which are set out on pages 8 to 12.

Respective responsibilities of trustees and examiner

The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed. The charity’s gross income exceeded £25,000 and I am qualified to undertake the examination by being a qualified member of the Association of Chartered Certified Accountants.

It is my responsibility to:

Basis of independent examiner’s statement

My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.

Independent examiner's statement

In connection with my examination, no matter has come to my attention to indicate that:

• accounting records have not been kept in accordance with section 386 of the Companies Act 2006;

• the accounts do not accord with such records:

• where accounts are prepared on an accruals basis, whether they fail to comply with relevant accounting requirements under section 396 of the Companies Act 2006, or are not consistent with the Charities SORP (FRS102)

• any matter which the examiner believes should be drawn to the attention of the reader to gain a proper understanding of the accounts.

Date: 27/04/2025

Chartered Certified Accountant

TACTS Accountant, 61 Fountains Crescent, London, N14 6BD

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HOUSE OF EL-SHADDAI INTERNATIONAL STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR END 31 JULY 2024

INCOMING RESOURCES:-
Donations and legacies
Gift Aid income
Bank Interest
TOTAL INCOMING RESOURCES
RESOUCES EXPENDED
Expenditure on charitable activities
TOTAL RESOUCES EXPENDED
Net Incomings and (outgoings) resources
Balances Brought Forward
Balances Carried Forward		 Notes
(15)
 Unrestricted
Funds
£
69,088
16,264
688
86,040
79,782
**79,782 **		 Unrestricted
Funds
£
69,088
16,264
688
86,040
79,782
**79,782 **		 Restricted
Funds
£
-
-
-
-
-
-		 Restricted
Funds
£
-
-
-
-
-
-		 Total
Funds
2024
£
69,088
16,264
688		 Total
Funds
2023
£
66,322
12,870
6
86,040 79,198
79,782 75,300
**79,782 ** 75,300
6,259 - 6,259 3,898
47,142 -
47,142 43,244
**53,401 ** - **53,401 ** 47,142

There were no recognised gains or losses for the above period other than those shown in the statement of financial activities for the above financial year. All incoming resources and resources expended are derived from continuing activities. (The notes attached form part of these financial statements)

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BALANCE SHEET FOR THE YEAR ENDED 31 JULY 2024 BALANCE SHEET FOR THE YEAR ENDED 31 JULY 2024
HOUSE OF EL-SHADDAI INTERNATIONAL
Notes
Fixed Assets
Tangible assets
Current Assets
Cash at bank and in hand
Creditors: Amount falling due within one year
Accruals
(13)
Net current Assets
Total assets less current liabilities
As Represented by:
Unrestricted Funds
Restricted Funds
Funds		 2024
£
-
54,001
600
53,401		 2023
£
-
47,742
600
47,142
53,401 47,142
53,401 47,142
53,401 47,142

The directors are satisfied that the company is entitled to exemption from the provisions of the Companies Act 2006 (the Act) relating to the audit of the financial statements for the year by virtue of section 477, and that no member or members have requested an audit pursuant to section 476 of the Act.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements

This report has been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.

The accounts were approved by the Directors and Trustees on 27/04/2025 and signed on their behalf by: -

………………………......... Trustee Revd J Collier

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HOUSE OF EL-SHADDAI INTERNATIONAL YEAR ENDED 31[ST] JULY 2024

Notes to the account

1. Accounting basis.

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

a) Basis of preparation

The financial statements have been prepared in accordance with 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 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. House of El-Shaddai International meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).

b) Preparation of the accounts on a going concern basis

The Charity trustees are of the view that measures taken subsequent to the year-end to reduce operating costs and successful in applying for continuation funding have secured the immediate future of the Charity for the next 12 to 18 months and that on this basis the charity is a going concern.

2. Cash Flow Statement

The trustees have taken advantage of the exemption in Financial Reporting Standard No 1 (revised) from including a cash flow statement in the financial statements on the grounds that the charity is small.

3. Income

Income is recognised in the period to which it relates, unless specified otherwise by the funder. Project funding is, in general, repayable if not expended within the relevant project. Such income is only recognised to the extent that it ceases to be repayable. The income is accounted for on a receivable basis.

4. Resource Expended

Resources expended are included in the Statement of Financial Activities inclusive of VAT which cannot be recovered. Direct charitable expenditure include includes the direct costs of the activities. Where such costs relate to more than one functional cost category, they have been apportioned in line with the direct costs of the relevant service.

5. Fund Accounting

Fund accounting unrestricted funds are available to spend on activities that further any of the purposes of charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity’s work.

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HOUSE OF EL-SHADDAI INTERNATIONAL YEAR ENDED 31[ST] JULY 2024

6. Support Cost

Allocation of support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back-office costs, finance, personnel, and governance costs which support the Charity activities. These costs have been allocated between cost of raising funds and expenditure on charitable activities. The bases on which support costs have been allocated are set out in note 16.

7. Taxation

House of El-Shaddai International is a registered charity and is not liable for corporation tax on its income under section 505 of the Income and Corporation Taxes Act 1988 to the extent that it is applied to its charitable activities.

8. Tangible fixed assets

Fixed assets are stated at cost less accumulated depreciation.

The organisation has no fixed assets.

9 . Pension costs and other post-retirement benefits

The organisation has not set up any pension scheme and has fulfilled its declaration of compliance towards the pension regulator.

10. Staff Costs

Staff Costs
Salaries 2024
£
1,908
1,908		 2023
£
1,908
1,908

None of the employees received emoluments in excess of £60,000 in the year or the previous year

Director’s payment of £1,908 were made in this financial year for specialised work only.

11. Status

House of El-Shaddai International is a registered charity and registered company limited by guarantee.

12. Debtors

The organisation has no debtors

13. Accruals

Professional fees
14. Restricted Fund
The organisation has no restricted funds.		 2024
2023
£
£
600
600
600
600

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15. Charitable Activities

Charitable Expenses
Wages
Training and Conference
Charity Activities and Events
General administration expenses
Rent, rates and Utilities
Missions and Benevolent
Subscriptions and fees
Insurance
Equipment and IT Expenses
Telephone and Mobile expenses
Books and periodicals
Travel, Accommodation & Subsistence
Professional fees & Consultancy
Video recording
Repairs. Cleaning & Maintenance
Movers and Storage
Sundry expenses
Refreshments and Catering
Groceries and Supplies
Charitable donations
TOTAL RESOURCES EXPENDED		 Unrestricted
Funds
£
1,908
3,775
9,986
2,903
16,921
7,847
1,170
967
2,362
1,857
6,415
7,587
1,800
350
2,486
864
126
5,747
3,953
757
**79,782 **		 Restricted
Funds
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Total
Total
Funds
Funds
2024
2023
£
£
1,908
1,908
3,775
3,883
9,986
9,958
2,903
2,882
16,921
19,469
7,847
6,206
1,170
996
967
1,785
2,362
2,630
1,857
2,321
6,415
6,405
7,587
5,595
1,800
1,216
350
-
2,486
2,727
864
-
126
145
5,747
2,981
3,953
3,452
757
740
79,782
75,300

16. Support and Governance

General administration expenses
Subscriptions and fees
Insurance
Equipment and IT Expenses
Telephone and Mobile expenses
Independent Examination
Repairs, cleaning and maintenance
Sundry expenses		 Support
£
2,903
1,170
-
2,362
1,857
-
2,486
126
10,905		 Governance
£
-
-
967
-
-
600
-
-
**1,567 **		 Total
£
2,903
1,170
967
2,362
1,857
600
2,486
126
12,472

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