2022-11-30-accounts - Kingdom Harvest Church CIO

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

KINGDOM HARVEST CHURCH	CIO
Charity Registered Number:	1176530
Company Registered Number:	09297941

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2022

KINGDOM HARVEST CHURCH CIO

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2022

CONTENTS
	Page
Trustee's Report	3-5
Independent Examiner's Report	6
Statement of Financial Activities	7
Balance sheet	8-9
Notes to the Accounts	10 – 13

KINGDOM HARVEST CHURCH CIO

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 30 NOVEMBER 2022

Trustees/Directors;	Cynthia Dickson
	Oluwatoyin Komolafe
	Olugbenga. Obideyi
Pastor in Charge:	Dele Komolafe
Charity registered number:	1176530
Company registered number:	09297941
Registered office:	3 Swaisland Road
	Dartford,
	KENT
	DA1 3DA
Banker:	Barclays bank
Independent Examiner:	JOS Accountants Limited
	Unit 3, 51-57 High Street South
	East Ham, London
	E6 6EJ
	United Kingdom

KINGDOM HARVEST CHURCH CIO

TRUSTEES REPORT FOR THE YEAR ENDED 30 NOVEMBER 2022

The Trustees who are also the Directors of Kingdom Harvest Church present their report and Financial Statements for the year ended 30 November 2022 which have been prepared in accordance with the Statement of Recommended Practice, “Accounting and Reporting by Charities” issued in October 2000 and Revised SORP 2005.

Structure, Governance and Management

a. CONSTITUTION

The church is constituted under a Trust deed and registered with Charity Commission with charity registration number 1176530 and constitutes a limited company, limited by guarantee as defined by Companies act 2006.

b. METHOD OF APPOINTMENT OR ELECTION OF TRUSTEES

New trustees are elected based on the contribution that they will make to the governance of the organization and the skills that they will bring into the life of the charity. They are provided with copies of the Charity Commission's guidance to trustees and introduced the activities of the charity by the existing board.

c. POLICIES ADOPTED FOR THE INDUCTION AND TRAINING OF TRUSTEES Existing trustees are provided with training as and when required.

d. ORGANISATIONAL STRUCTURE AND DECISION MAKING

The board of Trustees is headed by a Chairman, the Secretary to the trust and a Financial Administrator. The charity has two paid employees 35 other voluntary workers. The Trustees are responsible for making all decisions regarding allocation of fund and activities. The day to day administration of the church is managed by the Company Secretary/Parish Pastor who liaises with the board as need may arise.

The charity's objects are:

THE ADVANCEMENT OF THE CHRISTIAN FAITH THROUGH PROVISION OF A PLACE OF WORSHIP, EVANGELISM, TEACHING AND HOLDING PRAYER MEETINGS AND SEMINARS

KINGDOM HARVEST CHURCH CIO

TRUSTEES REPORT FOR THE YEAR ENDED 30 NOVEMBER 2022 CONT’D

b. GRANT MAKING POLICIES

The charity does not make grants to other charitable bodies.

c. VOLUNTEERS

The charity is most appreciative of the unflinching support of its volunteers who tirelessly help in the provision of service. It is therefore with gratitude to God that we once again report a robust membership giving which has significantly impacted once again on our reported figures for the year. We are pleased and thankful for their continuous commitment and support. Members’ contribution accounted for most of our gross income.

d. RISK MANAGEMENT

The Trustees have assessed the major risks to which the charity is exposed, particularly those related to operations and finances of the charity and are satisfied that systems are in place to mitigate exposures to the major risks.

Achievements and performance

The Trustees are pleased to report that the Church continued to be successful spiritually and in general wellbeing of its members and worshippers. The Church has improved in membership strength and is increasingly reaching out to the community.

Review of Transactions and Financial Position

. Gross Income Net Income General funds	2022 £ 85,380 66,304 156,455	2021 £ 82,134 63,158 117,164

Future Development Plans

The charity aims at building on its current achievement in effectively spreading the ethos, of love and hope that Christian faith offers. It also aims at building upon its current efforts of community involvement, in its bid to make our community and the larger world a better place for all.

KINGDOM HARVEST CHURCH CIO

TRUSTEES REPORT FOR THE YEAR ENDED 31 NOVEMBER 2022- CONT’D

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The Trustees are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations. Charity law requires the Trustees to prepare financial statements for each financial year. Under that law the Trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). The financial statements are required by law to give a true and fair view of the state of affairs of the Church and of the surplus or deficit of the Church for that period. In preparing these financial statements, the Trustees are required to:

select suitable accounting policies and then apply them consistently;
make judgments and estimates that are reasonable and prudent;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Church will continue in operation.

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the Church 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 Church and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Independent Examiner

The Trustees appointed JOS Accountants, a firm of Accounting & Management Consultants, as the Charity’s independent examiner. A resolution for re-appointment as independent examiner will be proposed during the Trustees meeting for the year.

This report was approved by the trustees and signed on its behalf by:

24[th] July 2023 -------------------------------------------------} Sign & Date Oluwatoyin Komolafe (Director/Trustee)

KINGDOM HARVEST CHURCH CIO

INDEPENDENT EXAMINERS REPORT

We have examined the financial statements, which comprise the financial activities, the balance sheet, the related notes and the accounting policies of KINGDOM HARVEST CHURCH CIO for the year ended 30 November 2022.

Respective responsibilities of trustees and independent examiner

As described earlier, the trustees are responsible for the preparation of the financial statements. It is my responsibility to carry out an examination of those financial statements and to issue a report based on that examination.

Scope of examination

We conducted our examination in accordance with directions given by the Charity Commissioners under section 43(7)(b) of the Charities Act 1993. An examination is limited to enquiries of the charity's personnel and analytical and review procedures applied to financial data and this provides less assurance than an audit. We have not performed an audit, and accordingly, we do not express an audit opinion.

Independent examiner's statement

In connection with our examination, no matter has come to our attention:

Which gives me reasonable cause to believe that in any material respect the requirements:
To keep accounting records in accordance with section 41 of the Act; and
To prepare accounts which accord with the accounting records and to comply with the accounting requirements of the Act have not been met; or
To which in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

24[th] July 2023 ------------------------------------------ (signed and dated) JOS Accountants Limited Unit 3, 51-57 High Street South East Ham, London E6 6EJ United Kingdom

KINGDOM HARVEST CHURCH LTD

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 30 NOVEMBER 2022

FOR THE YEAR ENDED 30 NOVEMBER 2022
INCOME & ENDOWNMENT Donations and legacies EXPENDITURE ON: Total charitable activities Governance costs Excess Income Funds brought forward	NOTES 2 5 6	Current year Current year Current year Prior year Unrestricted Restricted Total Total Funds Funds Funds Funds 2022 2022 2022 2021 £ £ £ £ 85,380 - 85,380 82,134
			18,127 850	- -	18,127 850	18,126 850
			18,977	-	18,977	18,976
			66,403 90,052	- -	66,403 90,052	63,158 26,894
			156,455	-	156,455	90,052

The notes thereon form integral part of the accounts

KINGDOM HARVEST CHURCH LTD

Current year Current year Current year Prior year Unrestricted Restricted Total Total Funds Funds Funds Funds 2022 2022 2022 2021 £ £ £ £ 2,513 - 2,513 3,194	Current year Current year Current year Prior year Unrestricted Restricted Total Total Funds Funds Funds Funds 2022 2022 2022 2021 £ £ £ £ 2,513 - 2,513 3,194	Current year Current year Current year Prior year Unrestricted Restricted Total Total Funds Funds Funds Funds 2022 2022 2022 2021 £ £ £ £ 2,513 - 2,513 3,194
21,322 - 133,470 -	21,322 133,470	25,400 91,616
154,792 -	154,792	117,016
850 -	850	3,046
153,942 -	153,942	113,970
156,455 -	156,455	117,164
156,455 - - -	156,455 -	90,052 27,112
156,455 -	156,455	117,164

The notes thereon form integral part of the accounts

KINGDOM HARVEST CHURCH CIO

BALANCE SHEET AS AT

30 NOVEMBER 2022 CON’D

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2022. The members have not required the charitable company to obtain an audit of its financial statements for the year ended 30 November 2022 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and

(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small charitable companies and with the Financial Reporting Standard for Smaller Entities (effective April 2008).

The financial statements were approved by the Board of Trustees and were signed on its behalf by:

----- Start of picture text -----
24 [th] July 2023
-------------------------------------------------------------------} Sign & Date
Oluwatoyin Komolafe (Director/Trustee)
24 [th] July 2023
-------------------------------------------------------------------} Sign & Date
Olugbenga. Obideyi (Director/Trustee)
----- End of picture text -----

KINGDOM HARVEST CHURCH CIO

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 NOVEMBER 2022

1 Accounting Policies:

The financial statements have been prepared in accordance with applicable Accounting Standards in the United Kingdom with the application of FRSSE and the Statement of Recommended Practice, “Accounting and Reporting by Charities” (“SORP 2000 and SORP 2005”) issued by the Charity Commission. A summary of the principal accounting policies, which have been applied consistently, is set out below.

a) Basis of Preparation of Financial Statements

The financial statements are prepared under the historic cost convention and include the results of the Charity's operations, which are described in the Trustees Report, all of which are continuing.

b) Comparative Figures

Comparative figures are shown on the statement of Accounts of the charity.

c) Incoming Resources

All income is credited to the Statement of Financial Activities on the earlier date of when they are received or when they are receivable.

d) Restricted funds

The restricted funds are to be used for specific purposes as specified within the objects of the Charity. Expenditure, which meets these criteria, will be identified to the fund, together with a fair allocation of management and support costs.

e) Unrestricted Funds

Unrestricted funds are donations and other incomes received or generated for the objects of the Charity without further specified purpose and are available for general funds.

f) Resources Expended

Direct Charitable Expenditure includes all expenditure incurred by the Charity in direct pursuit of its charitable objectives.

Governance expenditure includes all costs not directly related to the Charitable activities and cannot be allocated to direct charitable expenditure.

g) Donated Services and Gifts in Kind

The value of donated services and gifts in kind provided to the charity is recognised in the statement of financial activities and in the Balance Sheet at their value to the charity, as determined by the Trustees, in the period in which they are receivable, and where the benefit is both quantifiable and material.

f) Tangible fixed assets

Depreciation is provided on a straight line basis at the following annual rates in order to write off each asset over its estimated useful life.

Leasehold Property Refurbishment -5% Fixtures and fittings -25%

g) Taxation

The charity is exempt from corporation tax on its charitable activities.

KINGDOM HARVEST CHURCH LTD

NOTES TO THE ACCOUNTS ENDED

30 NOVEMBER 2022 CONT'D

Detailed analysis of income and expenditure for the year ended 30 November 2022 as required by the SORP 2015

Current year Current year Current year Prior year Unrestricted Restricted Total Total Funds Funds Funds Funds 2022 2022 2022 2021 £ £ £ £ 63,122 - 63,122 44,248 10,844 - 10,844 12,482 9,468 9,468 25,400 1,946 - 1,946 4 85,380 - 85,380 82,134 2,686 - 2,686 799 5,143 - 5,143 3,400 1,414 - 1,414 160 115 - 115 - 3,370 - 3,370 3,070 12,728 - 12,728 7,429	Current year Current year Current year Prior year Unrestricted Restricted Total Total Funds Funds Funds Funds 2022 2022 2022 2021 £ £ £ £ 63,122 - 63,122 44,248 10,844 - 10,844 12,482 9,468 9,468 25,400 1,946 - 1,946 4 85,380 - 85,380 82,134 2,686 - 2,686 799 5,143 - 5,143 3,400 1,414 - 1,414 160 115 - 115 - 3,370 - 3,370 3,070 12,728 - 12,728 7,429	Current year Current year Current year Prior year Unrestricted Restricted Total Total Funds Funds Funds Funds 2022 2022 2022 2021 £ £ £ £ 63,122 - 63,122 44,248 10,844 - 10,844 12,482 9,468 9,468 25,400 1,946 - 1,946 4 85,380 - 85,380 82,134 2,686 - 2,686 799 5,143 - 5,143 3,400 1,414 - 1,414 160 115 - 115 - 3,370 - 3,370 3,070 12,728 - 12,728 7,429
85,380	-	85,380
2,686 5,143 1,414 115 3,370	- - - - -	2,686 5,143 1,414 115 3,370
12,728	-	12,728

KINGDOM HARVEST CHURCH LTD

NOTES TO THE ACCOUNTS ENDED 30 NOVEMBER 2022 CONT'D

Current year Current year Current year Prior year Unrestricted Restricted Total Total Funds Funds Funds Funds 2022 2022 2022 2021 £ £ £ £ 16,781 - 16,781 5,920 243 - 243 146 842 - 842 1,842 564 - 564 748 60 - 60 118 - - - 138 237 - 237 241 1,760 - 1,760 1,544	Current year Current year Current year Prior year Unrestricted Restricted Total Total Funds Funds Funds Funds 2022 2022 2022 2021 £ £ £ £ 16,781 - 16,781 5,920 243 - 243 146 842 - 842 1,842 564 - 564 748 60 - 60 118 - - - 138 237 - 237 241 1,760 - 1,760 1,544	Current year Current year Current year Prior year Unrestricted Restricted Total Total Funds Funds Funds Funds 2022 2022 2022 2021 £ £ £ £ 16,781 - 16,781 5,920 243 - 243 146 842 - 842 1,842 564 - 564 748 60 - 60 118 - - - 138 237 - 237 241 1,760 - 1,760 1,544
20,487	-	20,487 10,697
7,429 10,697	- -	7,429 7,429 10,697 10,697
18,127	-	18,127 18,127
850 -	- -	850 850 - -
850	-	850 850

KINGDOM HARVEST CHURCH LTD

NOTES TO THE ACCOUNTS ENDED

30 NOVEMBER 2022 CONT'D

NOTES

£ 7,720 1,079 8,799 4,526 1,760 6,286 2,513 3,194 Current year Current year Unrestricted Restricted Funds Funds 2022 2022 £ £ - - 850 -	£ 7,720 1,079 8,799 4,526 1,760 6,286 2,513 3,194 Current year Current year Unrestricted Restricted Funds Funds 2022 2022 £ £ - - 850 -





850	-	850	3,046