Registered Number: 09409073 Charity Number: 1175437
The Trinity House Ministries
(A Company Limited by Guarantee)
Financial Statements
For Year Ended 31 January 2024.
The Trinity House Ministries.
Company Information
The Trinity House Ministries is registered as a Company Limited by Guarantee with Companies House Number 09409073. In the event of the Company being wound up each member may be asked to contribute a maximum of £1.
| Directors: | Samson Okiama Omole |
|---|---|
| Edward Esosa Iduoze | |
| Samson Aizebioje Iriajen | |
| Independent Examiners: | Righttime Associates Limited |
| Chartered Accountants, Tax Advisers | |
| Project Management Consultants | |
| 86-90 Paul Street, London. | |
| EC2A 4NE. | |
| Bankers: | Lloyds Bank |
| Dartford Branch | |
| P.O.Box 1000 | |
| Andover. | |
| BX1 1LT. | |
| Registered Office: | 10 Kennet Road |
| Crayford. | |
| Dartford. | |
| DA1 4QN. | |
| Objects of the Company: | The Company has the charitable objects of the advancement |
| of the Christian Faith Worldwide in accordance with the | |
| doctrines set out in the Statement of Faith contained in the | |
| Schedule and the Relief of Poverty. | |
| Company Registration No: | 09409073 |
| Charity Registration No: | 1175437 |
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The Trinity House Ministries.
Directors’ Report
The Directors of Trinity House Ministries submits the Report and Accounts for the Year Ended 31 January 2024.
Objects
The main objects of Trinity House Ministries are defined by the Memorandum of Association and are as follows:
(a). The Advancement of the Christian Faith Worldwide in accordance with the doctrines set out in the Statement of Faith contained in the Schedule.
(b). The Relief of Poverty.
Directors’ Responsibilities
Company legislation requires the Directors to prepare the Financial Statements for each Financial Year which gives a true and fair view of the State of Affairs of the Company and of the Income and Expenditure of the Company for that period. In preparing those Financial Statements, the Directors are required to:
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Select suitable Accounting Policies and then apply them consistently;
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Make judgments and estimates that are reasonable and prudent;
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Prepare the Financial Statements on the Going Concern Basis unless it is inappropriate to presume that the Company will continue in business.
The Directors are responsible for maintaining proper accounting records, which disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the Financial Statements comply with the Companies Act. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
By Order Of The Board
Samson Okiama Omole Director
Date: 30 October 2024.
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The Trinity House Ministries.
Independent Examiner’s Report For The Year Ended 31 January 2024
We report on the Accounts for the Year Ended 31 January 2024 set out on Pages 4 to 8 which have been prepared under the Historical Cost Convention and the Accounting Policies set out on Page 6.
Respective Responsibilities of the Directors and Independent Examiner
As described on Page 2, the Company’s Directors for the charitable activities of The Trinity House Ministries are responsible for the preparation of the Accounts and they consider that the Company is exempt from an audit. It is our responsibility to carry out procedures designed to enable us to report our opinion.
Basis of Opinion
Our work was conducted in accordance with the Statement of Standards for Reporting Accountants and so our procedures consisted of comparing the accounts with the accounting records kept by the Company and making such limited enquiries of the officers of the Company as we considered necessary for the purposes of this report. These procedures provide only the assurance expressed in our opinion.
Opinion
In our opinion:
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(a). the accounts are in agreement with the accounting records kept by the Company under section 477 of the Companies Act 2006;
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(b). having regard to, and on the basis of, the information contained in those accounting records:
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(i) the accounts have been drawn up in a manner consistent with the accounting requirements specified in section 477 of the Act and
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(ii) the Company satisfied the conditions for exemption from an audit of the accounts for the year specified in section 477 of the Act and did not, at any time within that year, fall within any of the categories of companies not entitled to the exemption.
Righttime Associates Limited Chartered Accountants, Tax Advisors Project Management Consultants 86-90 Paul Street, London. EC2A 4NE.
Date: 25 October 2024.
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The Trinity House Ministries.
Statement of Financial Activities For The Year Ended 31 January 2024.
| Notes Incoming Resources: Resources from generated funds 2 Resources Expended: Direct Charitable Expenditure 3 Other Administration Costs 4 Total Resources Expended Net Incoming/(Outgoing) Resources Investment Gains (Losses) Net Movement In Funds For the Year Fund Balances Brought Forward at 31 January 2023 Funds Balances Carried Forward at 31 January 2024 |
2024 45,863 (36,397) (3,055) (39,452) 6,411 --- 6,411 2,697 9,108 |
2023 35,224 (38,963) (2,311) (41,274) (6,050) --- (6,050) 8,747 2,697 |
|---|---|---|
Continuing Operations:
All Incoming Resources and Resource Expended derive from continuing activities.
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The Trinity House Ministries. Balance Sheet As At 31 January 2024
| Notes Fixed Assets 5 Current Assets Deposits – Savings Account Cash At Bank - Current Account Current Liabilities Creditors Amounts falling due within one year --- Net Current Assets/(Liabilities) ---------- Long Term Liabilities: Creditors Amount falling due after more than one year |
2024 £ --- 7,473 1,635 9,108 ---- 9,108 7,473 1,635 9,108 |
2023 £ --- 2,694 3 --- 2,697 ---- 2,697 2,694 3 |
2023 £ --- 2,694 3 --- 2,697 ---- 2,697 2,694 3 |
|
|---|---|---|---|---|
| Total Net Assets (Liabilities) Represented By: Unrestricted Funds Restricted Funds |
||||
| ____ 2,697 |
The Accounts are prepared in accordance with the Special provisions of the Companies Act 2006 relating to Small Companies.
The Directors are satisfied that the Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies and that no member or members have requested an audit pursuant to section 476 of the Companies Act 2006.
The Directors acknowledge their responsibilities for:
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(i). ensuring the company keeps proper accounting records which comply with the requirements of the Companies Act 2006 and
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(ii). preparing accounts which give a true and fair view of the state of affairs of the company as at the end of its financial period and of its profit or loss for the financial period in accordance with the requirements of Section 477 of the Companies Act 2006, and which otherwise comply with the requirements of the Companies Act relating to accounts, so far as applicable to the company.
Approved by the Directors on 30 October 2024 and signed on their behalf by:
Samson Okiama Omole
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The Trinity House Ministries. Notes to the Financial Statements For the Year Ended 31 January 2024.
1. Accounting Policies:
(a) Basis of Accounting
These accounts have been prepared under the historical cost convention in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008) and also in accordance with the Statement of Recommended Practice (Accounting by Charities) although the company is not a registered charity.
(b) Depreciation
Depreciation is provided on the Computer (Laptop) and Musical Instruments at the following rate based on the estimated useful life of these assets and their anticipated residual value. All assets are depreciated on a reducing balance basis at 25% per annum.
(c) Income
Income received are credited to the Incoming Resources in the year in which they are received.
(d) Value Added Tax
The company is not registered for VAT and accordingly where applicable, all costs and expenditure incurred are inclusive of VAT.
(e) Funds
Unrestricted funds are those funds which can be used at the company’s discretion. Restricted funds are those funds which have been earmarked by the company for specific purposes.
(f) Expenditure
Expenditure, publicity and management and administration costs comprise direct expenditure attributable to the company’s objective or activity.
| 2. Income Donations Tithes Offerings Thanksgiving Interest Received on Savings Account ___ |
2024 £ 9,236 22,259 14,118 215 35 ____ 45,863 |
2023 £ 6,751 14,737 12,836 900 -- 35,224 |
|---|---|---|
* Year On Year comparison of Actual Income Received in 2024 shows an increase of £10,639 (30.20%) against 2023 figures arising from significant increase in Donations, Tithes and Offerings.
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3. Analysis of Direct Charitable Expenditure
| Hall & Room Hire Pastoral Care, Welfare & Feeding of Homeless Professional Music Services Catering Immigration Services Salary Payments – PAYE HMRC – PAYE Tax & N.I.C Payments PAYE Payroll Processing Fees Playing Drum, Music & Keyboard Sessions Ministration Honorarium Communion Cups & Offering Envelopes Travel/Cab Payments Bank/Paypal Processing Charges |
2024 2023 £ £ 9,325 8,375 4,979 6,058 4,341 3,520 83 --- 810 706 6,500 11,784 317 218 840 660 8,920 7,235 ---- ---- ---- ---- 282 407 ---- ---- __ ____ 36,397 38,963 |
|---|---|
*Overall Direct Charitable Expenditure decreased marginally by £2,566 (6.59%) in 2024 when compared with 2023 figures resulting mainly from decrease in Pastoral Care and Salary Payments. However, there was significant increase in Hall Hire, Professional Music Services and Playing of Drums, Music and Keyboard resulting from payments for weekly church activities/programmes in the months and weeks that makes up the financial year respectively.
4. Administration Expenses
| 4. Administration Expenses | ||
|---|---|---|
| Self Storage Publicity –02 Mobile phones, Messagebird Texts, Fliers, Banners, Website Dev, Photography & Video Stationeries & Office Supplies Accountancy Fees Consultancy & Companies House Fees Gifts & Donations Health & Safety/Public Liability Insurance Miscellenous Expenses |
2024 £ ---- 1,224 109 400 13 500 390 419 _____ 3,055 |
2023 £ ---- 847 594 400 13 100 357 --- _____ 2,311 |
*Year On Year comparison of overall Administrative Expenses shows an increase of £744 (32.19%) in 2024 over 2023 figures mainly due to increase in Publicity, Gifts & Donations, Public Liability Insurance and Miscellenous Expenses.
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5. Fixed Assets Schedule
Computers Musical (Laptop) Instruments £ £ Cost: As at 1 February 2023 ---- --- Additions in the year --- --- _ _ As at 31 January 2024 --- --- Depreciation: As at 1 February 2023 --- ---- Charged for the year --- --- _ As at 31 January 2024 --- --- Net Book Value: At 31 January 2024 0 0 |
2024 Total £ ---- --- __ ---- _ ---- --- ---- ___ 0 |
|---|---|
*** Depreciation on the Fixed Assets is charged at 25%. On a reducing balance basis.
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