**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
1
## **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**
- (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:
- (iii) The advancement of Christian religion and education
- (iv) Counselling in relation to marriage, youth, career, parenting, bereavement
- (v) Support for families
- (vi) Training leaders
- (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.
2
## **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:
- (a) select suitable accounting policies and apply them consistently;
- (b) make judgments and estimates that are reasonable and prudent;
- (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;
- (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**
3
## **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:
- Examine the accounts under section 145 of the Charities Act,
- 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
- 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:
- (i) which gives me reasonable cause to believe that in, any material respect, the requirements:
- to keep accounting records in accordance with section 130 of the Charities Act and
- 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
4
## **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.
5
## **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**
6
## **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
7
## **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|||
8