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2024-04-05-accounts

TRUSTEES’ ANNUAL REPORT AND FINANCIAL STATEMENTS for the year ended 5 April 2024

Favour House Registered Charity Number 1178990

Trustees’ Annual Report | 6 April 2023 – 5 April 2024

CONTENTS

REFERENCE AND ADMINISTRATION DETAILS 3
TRUSTEES’ REPORT 5
STRUCTURE, GOVERNANCE ANDMANAGEMENT 5
OBJECTIVES ANDACTIVITIES 5
PUBLICBENEFITSTATEMENT 6
SUMMARY OF THEMAINACTIVITIES ANDACHIEVEMENTS 6
STATEMENT OFFINANCIALACTIVITIES 8
BALANCESHEET 9
NOTES TO THEFINANCIALSTATEMENTS 10

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Favour House | Registered Charity Number 1178990

Reference and Administration Details

Charity Name Favour House Working Names of Charity Favour House Church Favour House Aid King’s Summit Registered Charity Number 1178990 Principal Address 114 Blean Common Blean, Canterbury Kent CT2 9JJ Trustees Pastor King James (Chair) Prof Kene Igweonu Ms Elaine Morgan Mr Simon Teague Independent Examiner Joshua Cottingham MAAT 72 Broadmead Road Folkestone Kent CT19 5AR Bankers Lloyds Bank 49 High Street Canterbury Kent CT1 2SE

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Trustees’ Annual Report | 6 April 2023 – 5 April 2024

Independent Examiner’s Report to the Trustees of Favour House Church

I report to the charity trustees on my examination of the accounts of the charity for the year ended 5[th] April 2024 which are set out on pages 8 to 13.

Respective responsibilities of trustees and examiner

As the charity’s trustees of Favour House Church, you are responsible for the preparation of accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’)

I report in respect of my examination of the Favour House Church accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act

Independent examiner’s statement

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

  1. accounting records were not kept in respect of Favour House Church as required by section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements concerning the form and content of accounts set in the charities (Accounts and Reports) Regulations 2008 other than any requirement give a ‘true and fair view’ which is not a matter considered as part of an independent examination

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 to enable a proper understanding of the accounts to be reached.

……………………………………. Mr J Cottingham MAAT 72 Broadmead Road Folkestone Kent CT19 5AR

Date: 11/06/2024

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Favour House | Registered Charity Number 1178990

Trustees’ Report

The Favour House trustees present their annual report and financial statements for the year ended 5 April 2024. The Trustees have adopted the provisions of the Accounting and Reporting by Charities: Statement of Recommended Practice (Charities SORP, FRS 102) in preparing the annual report and financial statements of the charity. The trustees also confirm that the report and financial statements comply with the Charities Act 2011 and the charity’s trust deed.

Structure, Governance and Management

Favour House is constituted as a charitable trust governed by its trust deed and was entered on the Register of Charities by the Charity Commission for England and Wales on 29 June 2018, with registered charity number 1178990.

The trustees are responsible for the administration of the charity and take advice from the Spiritual Oversight and senior leadership team made up of the Senior Pastors and Executive Pastors. Trustees meet for a minimum of two times a year, give of their time freely, and receive no remuneration for their role as trustees. The trustees have delegated appropriate day-to-day management of the activities of the charity to the Senior Pastors and designated volunteer members of the organisation.

The existing trustees are responsible for the recruitment and appointment of new trustees who are respected members of the Christian faith and community. New trustees are appointed by a resolution of the existing trustees and subject to the approval of the Spiritual Oversight in line with the Favour House Trust Deed (Section 9.1). New trustees are given copies of the charity’s governing document and are instructed in their responsibilities by way of relevant Charity Commission publications and guidance such as Charity trustee: what’s involved (CC3a) .

The trustees are responsible for ensuring that systems and procedures are established in order to manage and control risks to the charity. In particular, Public Liability Insurance cover is in place and appropriate Disclosure and Barring Service (DBS) checks are carried out on volunteers who work with children. Our safeguarding is undertaken under the guidance of CCPAS (The Churches’ Child Protection Advisory Service).

Objectives and Activities

The principal objectives and activities of the charity are set out in its governing document. The charity seeks to achieve the following objectives in accordance with the Statement of Faith, Doctrines and Articles of Belief as set out in its governing document:

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Trustees’ Annual Report | 6 April 2023 – 5 April 2024

Activities of the charity are centred, though not exclusively, in Canterbury City and the environs. The central activity of the charity is Favour House Church, which is a nondenominational congregation of Christian believers based in Canterbury who meet weekly at the Canterbury Primary School, City View, Franklyn Road, Canterbury Kent CT2 8PT.

Public Benefit Statement

In considering the activities of the charity, the trustees have had regard to the guidance issued by the Charity Commission on public benefit. The trustees constantly seek opportunities to achieve its objectives through various activities that maximises the charity’s benefit to the public and community at large.

All our activities and services are specifically designed and delivered to advance the Christian faith for the public benefit because they are based on the inherent power of the teaching and adherence to the principles of the Christian faith in positively impacting society in a beneficial way. Our work in advancing the Christian faith for the public benefit is predicated on our passion to serve which comes from God’s love for everyone, and the Lord’s instruction to love your neighbour as yourself. Our mandate is to help people become like Christ in every aspect of life.

Our goal is to equip, empower, and mobilize people to make kingdom impact outside the walls of Favour House Church. This is because we believe that advancing the Christian faith helps to bring meaning to people’s lives. Being part of a church community contributes to spiritual well-being and provides a sound moral or ethical framework to live by, and thus provide immense benefit to wider society by contributing to the individuals’ wellbeing and sense of purpose.

Activities and services are designed and delivered through an enlightenment of the Word of God throughout the services to both adults and children at their appropriate age ranges. Opportunities are made available for anyone to discuss their concerns and questions after the service on Sundays and during the house groups on Fridays.

Summary of the Main Activities and Achievements

The charity operates variously as Favour House Church, Favour House Aid and Kings Summit.

The weekly Home Church meetings and Sunday morning worship services are held under the auspices of Favour House Church. Home Church meetings take place in Folkestone (Tuesday evenings) and Canterbury (Wednesday evenings), while the Sunday morning worship services usually take place at The Canterbury Primary School, City View, Franklyn Road, Canterbury CT2 8PT.

FAVOUR HOUSE CHURCH

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Favour House | Registered Charity Number 1178990

The church has continued to thrive because of the above activities. The number of people accessing the church service have also continued to increase with the use of YouTube for live streaming of the Sunday morning worship services. Video recordings of the worship services are routinely made available to the public on the church’s website and YouTube channel.

THE KING’S SUMMIT

This year we continued to reach out to the business community in East Kent with the sixth annual Kings Summit Business Conference. We invited another 3 successful Christian Business Owners to share their journey to encourage and inspire fellow entrepreneurs to develop robust, sustainable, and scalable businesses in the region.

We believe the Lord is calling us to continue to bring the message of the need for us all to be good stewards of our businesses and in doing so, He will bless all those who attended.

This year we held the event again in collaboration with St Andrews URC Church, where the church hall can be opened out to cater for the 65 attendees of the conference. Once again, we benefited from sponsorship predominantly from Azets Accountants and this enabled all the costs to be covered and the ticket sales, which amounted to just under £1000 to be donated to Nurture Nepal and Mission Aviation Fellowship.

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Trustees’ Annual Report | 6 April 2023 – 5 April 2024

Statement of Financial Activities

For the year ended 5 April 2024

Unrestricted Designated Restricted Total Total
funds funds funds funds funds
2024 2024 2024 2024 2023
Notes £ £ £ £ £
Income from:
Voluntary income 2 36,412 - - 36,412 35,646
Gift Aid 6,320 6,320 3,554
Investment income 70 10 80 10
Total Income 42,732 70 10 42,812 39,210
Expenditure on:
Charitable activities 20,135 15,529 700 36,364 37,683
Governance costs 896 - - 896 643
Total Expenditure 3 21,031 15,529 700 37,260 38,326
Surplus / (Deficit) 21,701 (15,459) (690) 5,552 884
Transfer between funds: (18,589) 17,569 1,020
Reconciliation of funds:
Total funds carried forward 15,979 5,318 1,175 22,472

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Favour House | Registered Charity Number 1178990

Balance Sheet

For the year ended 5[th] April 2024

2023 2024
Category Notes £ £
FIXED ASSETS 5
Furniture and equipment 10,968 13,789
CURRENT ASSETS
Debtors - -
Cash at bank and in hand 6,243 8,683
CURRENT LIABILITIES
Creditors: amount due within one year 6 - -
Creditors: amounts due after one year 7 - -
NET CURRENT ASSETS 16,941 22,472
TOTAL ASSETS LESS CURRENT LIABILITIES 16,941 22,472
FUNDS
Unrestricted funds 12,888 15,979
Designated funds 8 3,208 5,318
Restricted funds 9 845 1,175
TOTAL FUNDS 16,941 22,472

These financial statements were approved by the Board of Trustees on the 13[th] of June 2024 and signed on their behalf by:

K. U. James Chair of Trustees

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Trustees’ Annual Report | 6 April 2023 – 5 April 2024

Notes to the Financial Statements For the year ended 5[th] April 2024

1. ACCOUNTING POLICIES

Basis of accounting

Favour House is a UK registered charity with the Charity Commission. The charity number and address of the registered office is given on page 3 if this report and financial statements.

The accounts have been prepared under the historical cost convention and in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice (Charities SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) effective 1 January 2015, and the Charities Act 2011.

Income

All income is included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.

Expenditure

All expenditure is accounted for on an accruals basis, is inclusive of VAT, and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings, they have been allocated to activities on a basis consistent with the use of resources. Expenditure on charitable activities comprises all expenditure incurred directly in pursuance of the charity’s objectives. Governance costs are those costs incurred in connection with administration of the charity and compliance with constitutional and statutory requirements. Minimal expenditure is currently recorded under governance costs, as no amounts are included in the financial statements for the value of services donated by volunteers.

Tangible fixed assets and depreciation

Tangible fixed assets are capitalised and included at cost. Depreciation is provided on fixed assets at an annual rate of 25% on a straight-line basis, over their expected useful lives.

Funds accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. The charity does not currently hold any restricted fund.

Designated funds are unrestricted funds that the trustees have set aside for a particular purpose.

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Favour House | Registered Charity Number 1178990

2. VOLUNTARY INCOME

2024 2023
£ £
Donations 42,732 39,200

3. EXPENDITURE

Charitable activities
Office/ Operational costs
Travel and subsistence expenses
Salaries/ Pension
Conferences/Speakers
Hospitality
Missions/ Donations
Venue hire/ Rent
Licences/ Subscriptions
Furniture/ Equipment
Literature/ Publicity
Depreciation
Miscellaneous expenses
Governance costs
Insurance
Bank charges
Accounts examination fee
CCPAS (disclosure checks)
Total expenditure		 2024
£
2,421
819
14,710
-
2,019
700
8,330
3,588
6,183
198
3,092
487
667
90
-
139
43,443		 2023
£
3,296
1,421
14,000
451
1,384
1,970
7,855
3,865
5,494
3,111
1,734
339
414
135
-
94
43,820

4. TRUSTEE REMUNERATION AND EXPENSES

During the current year, Pastor King James (Trustee), was paid a salary of £13,558. A sum of £636 was also paid for expenses incurred in the discharge of his duties as minister. These payments are permitted under section 5.2 and 28.1 of the Favour House Governing Deed.

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Trustees’ Annual Report | 6 April 2023 – 5 April 2024

5. FIXED ASSETS

Furniture and equipment
Cost
Brought forward
Additions
Carried forward
Depreciation
Brought forward
Charge for the year
Carried forward
Net book value
Brought forward
Carried forward		 £
14,520
6,183
20,703
3,822
3,092
6,914
10,698
13,789

6. CREDITORS: Amounts due within one year

Creditors and accruals 2023
£
-		 2022
£
-

7. CREDITORS: Amounts due after one year

Creditors and accruals 2023
£
-		 2022
£
-

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Favour House | Registered Charity Number 1178990

8. DESIGNATED FUNDS

Building and rent fund8
Salary and pension fund		 2024
£
1,033
4,285
5,318		 2023
£
585
2,623
3,208

9. RESTRICTED FUNDS

ESTRICTED FUNDS
Aid and Mission fund9 2024
£
1,175		 2023
£
845

10. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Fixed assets
Current assets
Creditors due within one year
Creditors due after one year		 Unrestricted

£
13,789
2,190
-
-
15,979		 Designated
£
5,318
5,318		 Restricted
£
-
1,175
-
-
1,175		 Total
£
13,789
8,683
22,472

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