Charity No: 1174661
BCS WORLDWIDE MINISTRIES LIMITED REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
BCS WORLDWIDE MINISTRIES LIMITED
Contents
| Page | |
|---|---|
| Legal and administrative information | 1 |
| Report of the trustees | 2-3 |
| Independent Examiner’s Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 |
| Notes forming part of the financial statements | 7-8 |
BCS WORLDWIDE MINISTRIES LIMITED
Legal and administrative information
Trustees J Kadiri B Ejide P Ogbonnaya V Ben G Ogwudire E Obayoriade Y Leong Charity offices 7-11 Minerva Road London NW10 6HJ Independent Examiner Lance Kadiri 333 Edgware road London NW9 6TD Bankers Barclays Plc
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BCS WORLDWIDE MINISTRIES LIMITED
Trustees’ Report for the year ended 31 March 2024
The trustees present their report along with the financial statements of the charity for the year ended 31 March 2024. The financial statements have been prepared in accordance with the accounting policies set out on page 7 and comply with the charity’s memorandum and articles of association.
Trustees
The following were the trustees for the period under consideration.
| Name | Appointed |
|---|---|
| J Kadiri | 2016 |
| B Ejide | 2016 |
| P Ogbonnaya | 2016 |
| V Ben | 2016 |
| G Ogwudire | 2016 |
| E Obayoriade | 2016 |
| Y Leong | 2016 |
The principal custodian of the charity is the Board of Trustees.
Appointment of trustees is governed by The Memorandum and Articles of Association. The Board of Trustees is authorized to appoint new trustees to fill vacancies arising through resignation or death of an existing trustee.
Investment Powers
The Memorandum and Articles of Association authorizes the trustees to make and hold investments using the general funds of the charity, but no such investments are presently held.
Constitution, objects and policies
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(i) The Charity’s governing document is the Trust Deed, which is kept at the charity’s principal address. (ii) The objects of the charity continue to be:
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(iii) The advancement of Christian religion and education
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(iv) Counselling in relation to marriage, youth, career, parenting, bereavement
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(v) Support for families
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(vi) Training leaders
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(vii) Enhancing social and community integration
Development, activities and achievements
The trustees consider that the performance of the charity this year has been most satisfactory. During the year the charity gained some new members and it is expected that the congregation will continue to grow in the future.
The charity would not be able to operate without the continued support of a large number of willing support staff who give their services voluntarily, to assist the church on a freelance basis.
Financial review
A substantial increase in donations by individuals was achieved this year, mainly due to the publicity we received in the media, which featured the church’s activities. In addition, our fundraising activities continue to be successful, thanks mainly to the kind donations of members. Office overheads were generally unchanged this year. Funds available are sufficient to permit the charity to continue in operation in the medium term.
Risk Management
The trustees actively review the major risk which the charity faces on a regular basis and believe that maintaining reserves at current levels, combined with an annual review of the controls over key financial systems, will provide sufficient resources in the event of adverse conditions. The trustees have also examined other operational and business risks faced by the Charity and confirm that they have established systems to mitigate the significant risks.
Future Developments
The trustees are confident that the charity will continue to grow in strength in the foreseeable future.
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BCS WORLDWIDE MINISTRIES LIMITED
Report of the trustees for the year ended 31 March 2024
Reserves policy
It is the policy of the charity to maintain unrestricted funds at a level which equate to approximately 12 months unrestricted expenditure. This provides sufficient funds to cover management and administration and support costs. Unrestricted funds are maintained at least this level throughout the year.
Statement of trustees’ responsibilities
Law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true fair view of the charity’s financial activities during the year and of its financial position at the end of the year. In preparing those financial statements, the trustees are required to:
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(a) select suitable accounting policies and apply them consistently;
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(b) make judgments and estimates that are reasonable and prudent;
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(c) state whether applicable accounting standards and statements of recommended practice have been followed, subject to any departures disclosed and explained in the financial statements;
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(d) Prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 1993. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approval
This report was approved by the trustees in January 2025 and signed on their behalf.
E Obayoriade Trustee
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BCS WORLDWIDE MINISTRIES LIMITED
Report of the Independent Examiner to the Trustees of BCS Worldwide Ministries Limited
On accounts for the year ended 31 March 2024
Respective responsibilities of trustees and examiner
The charity’s trustees 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 and that an independent examination is needed.
It is my responsibility to:
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Examine the accounts under section 145 of the Charities Act,
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To follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act; and
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To state whether particular matters have come to my attention.
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:
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(i) which gives me reasonable cause to believe that in, any material respect, the requirements:
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to keep accounting records in accordance with section 130 of the Charities Act and
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to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act
have not been met; or
- (ii) To which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
LANCE KADIRI 333 Edgware road London NW9 6TD
January 2025
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BCS WORLDWIDE MINISTRIES LIMITED
Statements of Financial Activities For the year ended 31 March 2024
| Incoming Resources Interest Receivable Tithes and offering Building fund donations Total Incoming resources Resources Expanded Rent and rates Men Fellowship Honorarium Telephone and fax Repairs and maintenance Light and heat Insurance Stationery and printing Travel and Subsistence Depreciation HQ Contributions Evangelism Women and Other Projects Hire charges Bank charges Anniversary expenses Welfare Donations Advertising and PR Accountancy Legal and professional Sundry expenses Interest Payable Total resources expanded Surplus/(deficit) for the year |
Restricted Unrestricted Total Total Funds Funds Funds Funds 2024 2024 2024 2023 £ £ £ £ - 63 63 16 - 40,861 40,861 42,727 - - - - |
|---|---|
| - 40,924 40,924 42,743 |
|
| - 1,331 1,331 3,300 - - - - - - - - - 387 387 174 - - - - - 1,526 1,526 459 - - - - - 563 563 211 - 2,739 2,739 482 - 183 183 228 - - - 400 - 5,000 5,000 4,140 - - - - - - - - - - - - - 1,500 1,500 879 - - - - - - - - - 783 783 - - 1,000 1,000 1,000 - - - 13,645 - 1,280 1,280 1,108 - - - 2,964 |
|
| - 16,292 16,292 28,990 |
|
| - 24,645 24,645 16,701 |
There were no recognized gains or losses for 2024 other than those included in the Statements of Financial Activities.
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BCS WORLDWIDE MINISTRIES LIMITED
Balance Sheet As at 31 March 2024
| Note Fixed Assets Tangible Assets 2 Current assets Debtors 3 Cash at bank and in hand Creditors: amounts falling due within one year 4 Net current assets Total assets less current liabilities Funds Restricted funds Unrestricted funds 5 Accumulated unrestricted funds |
2024 £ £ 394,572 7,806 37,598 45,404 (2,109) 43,295 437,867 1,283 289,784 291,067 |
2023 £ £ 345,133 13,341 87,667 101,008 (15,200) 85,808 430,941 1,283 282,858 284,141 |
2023 £ £ 345,133 13,341 87,667 101,008 (15,200) 85,808 430,941 1,283 282,858 284,141 |
|---|---|---|---|
| 430,941 | |||
| 1,283 282,858 |
|||
| 284,141 |
Approved by the trustees in January 2025 and signed on their behalf.
E Obayoriade V Ben
Trustees
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BCS WORLDWIDE MINISTRIES LIMITED
Notes to the accounts for the year ended 31 March 2024
1. Accounting policies
1.1 Basis of preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
1.2 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the church and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors which have been raised by the church for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Investment income, capital gains and losses are allocated to the appropriate fund.
1.3 Incoming resources
All incoming resources are included in the Statement of Financial Activities (SOFA) when the church is legally entitled to the income and the amount can be quantified with reasonable accuracy.
Income tax recoverable in relation to donations received under Gift Aid is recognized at the time of the donation.
1.4 Resources expended
All expenditure is accounted for on an accruals basis and has been included under expense categories that aggregate all costs for allocation to activities. Where costs cannot be directly attributed to particular activities they have been allocated on a basis consistent with the use of the resources.
1.5 Tangible fixed assets for use by the charity and depreciation .
Tangible fixed assets for use by the charity are stated at cost less depreciation.
Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Equipment and furniture 20% reducing balance method Land & Building 20% reducing balance method
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BCS WORLDWIDE MINISTRIES LIMITED
Notes to the accounts for the year ended 31 March 2024
| 2. Tangible fixed assets for use by the Charity Cost 1 April 2023 Additions 31 March 2024 Depreciation 1 April 2023 Charge for year 31 March 2024 Net book value 31 March 2024 31 March 2023 3. Debtors and prepayments Loans 4. Creditors: Amounts falling due with one year Sundry creditors Accruals |
Equipment Land & Building & furniture Total £ £ £ 344,220 6,847 351,067 49,622 - 49,622 393,842 6,847 400,689 - 5,934 5,934 - 183 183 - 6,117 6,117 393,842 730 394,572 344,220 913 345,133 2024 2023 £ £ 7,806 13,341 7,806 13,341 2024 2024 2023 £ £ £ 2,109 2,109 15,200 146,800 146,800 146,800 148,909 148,909 162,000 |
Equipment Land & Building & furniture Total £ £ £ 344,220 6,847 351,067 49,622 - 49,622 393,842 6,847 400,689 - 5,934 5,934 - 183 183 - 6,117 6,117 393,842 730 394,572 344,220 913 345,133 2024 2023 £ £ 7,806 13,341 7,806 13,341 2024 2024 2023 £ £ £ 2,109 2,109 15,200 146,800 146,800 146,800 148,909 148,909 162,000 |
Equipment Land & Building & furniture Total £ £ £ 344,220 6,847 351,067 49,622 - 49,622 393,842 6,847 400,689 - 5,934 5,934 - 183 183 - 6,117 6,117 393,842 730 394,572 344,220 913 345,133 2024 2023 £ £ 7,806 13,341 7,806 13,341 2024 2024 2023 £ £ £ 2,109 2,109 15,200 146,800 146,800 146,800 148,909 148,909 162,000 |
Equipment Land & Building & furniture Total £ £ £ 344,220 6,847 351,067 49,622 - 49,622 393,842 6,847 400,689 - 5,934 5,934 - 183 183 - 6,117 6,117 393,842 730 394,572 344,220 913 345,133 2024 2023 £ £ 7,806 13,341 7,806 13,341 2024 2024 2023 £ £ £ 2,109 2,109 15,200 146,800 146,800 146,800 148,909 148,909 162,000 |
|---|---|---|---|---|
| 393,842 | 6,847 | |||
| - - |
5,934 183 |
|||
| - | 6,117 | |||
| 393,842 | 730 | |||
| 344,220 | 913 | |||
| 5. Funds 1 April 2023 Surplus for the year 31 March 2024 |
Restricted £ 1,283 - |
Unrestricted Total £ £ 282,858 284,141 6,926 6,926 289,784 291,067 |
||
| 1,283 |
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