2023-11-30-accounts - Kingdom Harvest Church CIO

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KINGDOM HARVEST CHURCH CIO

Charity Registered Number:	1176530
Company Registered Number:	09297941

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2023

KINGDOM HARVEST CHURCH CIO

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2023

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 2023

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 2023

The Trustees who are also the Directors of Kingdom Harvest Church present their report and Financial Statements for the year ended 30 November 2023 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 2023 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	2023 £ 88,004 46,349 202,805	2022 £ 85,380 66,304 156,455

Future Development Plans

The charity aims to build 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 2023- CONT’D

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The Trustees are responsible for preparing the Annual Report and the financial statements in accordance with applicable laws 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 a 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:

9[th] August 2024 -------------------------------------------------} Sign & Date

Oluwatoyin Komolafe (Director/Trustee)

KINGDOM HARVEST CHURCH CIO

INDEPENDENT EXAMINERS REPORT to the trustees of KINGDOM HARVEST CHURCH CIO

I report to the charity trustees on my examination of the financial statements of Kingdom Harvest Church for the year ended 30 November 2023.

Responsibilities and basis of report

As the charity's trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act).

Having satisfied myself that the financial statements of the Charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's financial statements as carried out under section 145 of the Charities Act 2011 ('the 2011 Act').

In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe:

• accounting records were not kept in accordance with section 386 of the 2006 Act; or

• the financial statements do not accord with those records; or

• the financial statements do not comply with the accounting requirements under section 396 of the 2006 Act other than any requirement that the financial statements give a 'true and fair' view which is not a matter considered as part of an independent examination; or

• the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

27[th] August 2024 ------------------------------------------ (signed and dated)

Onasanya Ogundele (Institute of Financial Accountants) JOS Accountants Limited

Unit 3, 51-57 High Street South, East Ham, London, E6 6EJ

KINGDOM HARVEST CHURCH CIO

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED

30 NOVEMBER 2023

FOR THE YEAR ENDED 30 NOVEMBER 2023
INCOME & ENDOWMENT 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 2023 2023 2023 2022 £ £ £ £ 88,004 - 88,004 85,380
			40,675 980	- -	40,675 980	18,127 850
			41,655	-	41,655	18,977
			46,349 156,455	- -	46,349 156,455	66,403 90,052
			202,805	-	202,805	156,455

The notes thereon form an integral part of the accounts

KINGDOM HARVEST CHURCH CIO

Current year Current year Current year Prior year Unrestricted Restricted Total Total Funds Funds Funds Funds 2023 2023 2023 2022 £ £ £ £ 4,842 - 4,842 2,513	Current year Current year Current year Prior year Unrestricted Restricted Total Total Funds Funds Funds Funds 2023 2023 2023 2022 £ £ £ £ 4,842 - 4,842 2,513	Current year Current year Current year Prior year Unrestricted Restricted Total Total Funds Funds Funds Funds 2023 2023 2023 2022 £ £ £ £ 4,842 - 4,842 2,513	Current year Current year Current year Prior year Unrestricted Restricted Total Total Funds Funds Funds Funds 2023 2023 2023 2022 £ £ £ £ 4,842 - 4,842 2,513
10,025 189,233	- -	10,025 189,233	21,322 133,470
199,257	-	199,257	154,792
980	-	980	850
198,277	-	198,277	153,942
203,119	-	203,119	156,455
202,805 314	- -	202,805 314	156,455 -
203,119	-	203,119	156,455

The notes thereon form an integral part of the accounts

KINGDOM HARVEST CHURCH CIO

BALANCE SHEET AS AT 30 NOVEMBER 2023 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 2023. The members have not required the charitable company to obtain an audit of its financial statements for the year ended 30 November 2023 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:

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9/08/2024
-------------------------------------------------------------------} Sign & Date
Oluwatoyin Komolafe (Director/Trustee)
9/08/2024
-------------------------------------------------------------------} Sign & Date
Olugbenga. Obideyi (Director/Trustee)
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KINGDOM HARVEST CHURCH CIO

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 NOVEMBER 2023

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.

Motor vehicle -20% Office equipment -20%

g) Taxation

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

KINGDOM HARVEST CHURCH CIO

NOTES TO THE ACCOUNTS ENDED

30 NOVEMBER 2023 CONT'D

Detailed analysis of income and expenditure for the year ended 30 November 2023 as required by the SORP 2015

as required by the SORP 2015
NOTES 2 Donations, grants and legacies Tithe & Offering Building donation Gift aid Other income- Benefit in kind 3 Charitable activities- Direct spending Outreach & publicity Welfares Entertainment & hospitality Conference Training Honorarium	Current year Current year Current year Prior year Unrestricted Restricted Total Total Funds Funds Funds Funds 2023 2023 2023 2022 £ £ £ £ 52,912 - 52,912 63,122 25,508 - 25,508 10,844 9,584 9,584 9,468 - - 1,946
		88,004	-	88,004	85,380
		766 5,592 4,105 - 515 3,190	- - - - -	766 5,592 4,105 - 515 3,190	2,686 5,143 1,414 115 - 3,370
		14,169	-	14,169	12,728

KINGDOM HARVEST CHURCH CIO

NOTES TO THE ACCOUNTS ENDED

30 NOVEMBER 2023 CONT'D

NOTES TO THE ACCOUNTS ENDED 30 NOVEMBER 2023 CONT'D
NOTES 4 Premises & administrative costs Rent & rate Postage and couriers General church running expenses Travel expenses Stationery and printing Web hosting Sundry expenses Legal and professional fee Depreciation 5 Total charitable expenditure Direct spending Support costs 6 Other expenditure- governance costs Independent examination Legal and professional costs	Current year Current year Current year Prior year Unrestricted Restricted Total Total Funds Funds Funds Funds 2023 2023 2023 2022 £ £ £ £ 17,620 - 17,620 16,781 - - 243 - - 842 515 - 515 564 1,291 - 1,291 60 108 - 108 - 140 - 140 237 4,049 4,049 - 2,782 - 2,782 1,760 26,506 - 26,506 20,487 14,169 - 14,169 7,429 26,506 - 26,506 10,697 40,675 - 40,675 18,127 980 - 980 850 - - - - 980 - 980 850
		26,506	-	26,506
		14,169 26,506	- -	14,169 26,506
		40,675	-	40,675
		980 -	- -	980 -
		980	-	980

KINGDOM HARVEST CHURCH CIO

NOTES TO THE ACCOUNTS ENDED 30 NOVEMBER 2023 CONT'D

30 NOVEMBER 2023 CONT'D
NOTES 7 Fixed assets Motor vehicle Costs 1 December 2022 Addition during the year Depreciation As at 1 December 2022 Charged for the year Net Book Value 30 November 2023 30 November 2022 8 Creditors: Amount falling due within one year Pastor's account Other Creditors	Motor Office Vehicle equipment £ £ 8,799 - 5,110
	8,799 5,110
	6,286 - 1,760 1,022
	8,045 1,022
	753 4,088
	2,513 -
		980	-	980	850