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2023-07-31-accounts

Bethel School of Biblical Studies

Charitable Incorporated Organistation

TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023

Bethel School of Biblical Studies

CONTENTS
Page
References and administrative details of the charity and its trustees 3
Trustees' report 4 - 7
Independent examiner's report 8
Statement of Financial Activities 9
Balance Sheet 10
Notes to the Financial Statements 11 -14

Bethel School of Biblical Studies

REFERENCES AND ADMINISTRATIVE DETAILS OF THE CHARITY AND ITS TRUSTEES. FOR THE YEAR ENDED 31 JULY 2023

Trustees Sylvia Dean
Denson Lewin
David Miller - Chair
Tracey Peters
Clive Roberts
Company Secretary Clive Roberts
Memorandum and Articles of Association
Governing Document dated 23 February 2018
Company Registration Number 11223226
Charity Registration Number 1179314
Principal office Bethel School of Biblical Studies
Bethel Convention Centre
Kelvin Way
West Bromwich
B70 7JW
Registered office Bethel School of Biblical Studies
Bethel Convention Centre
Kelvin Way
West Bromwich
B70 7JW
Independent Examiner Tunji Ogedengbe FCCA
36 Daffodil Close
Hatfield
AL10 9FF

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Bethel School of Biblical Studies

TRUSTEES' REPORTS FOR THE YEAR ENDED 31 JULY 2023

From: 01 Aug 2022 To : 31 July 2023

Charity name: Bethel School of Biblical Studies - BIBS

Charity registration number: 1179314

Companies House Registration Number : 11223226

1. OBJECTS OF THE CHARITY

The charity is a charitable company and is governed by its articles of association. The objects of the charity, as set out in the governing document are:

The Charity's object {"the Object"), which is for the Public Benefit, is the advancement of the Christian Faith worldwide, in particular, by providing in-depth knowledge of the biblical scriptures and equipping men and women for life and Christian ministry.

2. SUMMARY OF ACHIEVEMENTS AND PERFORMANCE

2.1 In furthering the above objects, BIBS’ main activities and achievements during the financial period were a series of Bible courses and they are as follows:

• The Two-Year Certificate Course - that gave a deeper and structured understanding of the Bible; equipping men and women to be better citizens and positively affect society.

• The Foundation Course - that gave a basic understanding of the Bible to men and women who did not have an understanding; and helped them to apply the principles to their lives.

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Bethel School of Biblical Studies

TRUSTEES' REPORTS (continued) FOR THE YEAR ENDED 31 JULY 2023

2:2 BIBS Delivery of Curriculum

• BIBS continues to deliver its curriculum online. The staff have fully embraced the methodologies involved in delivering education online and the courses continue to run well.

• Trustees and staff continue work together to address the many challenges involved in running an online Bible school. Systems are in place which encourage feedback from past and present students. The ethos of the school continues to be one of continual improvement.

• The focus on student care remains of high priority. Courses and assessment processes have been adapted to an online learning environment. The changes brought in to facilitate online delivery, such as shorter weekend sessions, the introduction of online discussion forums and revision sessions, have been embedded and are proving themselves to be robust and of continuing benefit to the student body.

• The trustees and staff have looked to recruit new staff this year so as to be able to effectively deliver its curriculum to current students whilst also being prepared for any future increase in demand.

In planning the activities the Trustees have applied the guidance on public benefit issued by the Charity Commission.

3. GOVERNANCE AND MANAGEMENT

3.1 The Charity is governed by its Articles of Association, dated 1[st] Feb 2018. The school was incorporated on 23[rd] Feb 2018 and registered with Company House and with the Charity Commission on 24[th] July 2018.

3.2 The charity is formed as a Charitable Company. Its trustees (directors), and board of governors are responsible for overseeing the carrying out of its objects, setting its policies, and monitoring all its activities, etc. The day-today activities are undertaken by the BIBS staff who are accountable to the Trustees.

3.3 The methods used to recruit and appoint new charity trustees, including details of any constitutional provisions for appointment are found in the articles of association. The Charity may, by ordinary resolution, appoint a trustee. The process is as follows:

3.4 The trustees have agreed that the Bible school will, regarding its charity structure, move to being a Charitable Incorporate Organisation. The trustees have advised the staff of this. The work to achieve this aim has begun and is progressing well.

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Bethel School of Biblical Studies

TRUSTEES' REPORTS (continued) FOR THE YEAR ENDED 31 JULY 2023

4. FINANCIAL REVIEW

The school continues to manage its financial budget to enable the provision of its courses online. A continuous improvement can be seen from post pandemic levels.

The attached set of figures details the Charity’s annual income, expenditure, balance or surplus etc., which compares the previous year with the current.

5. RESERVES POLICY

There is no formal reserves policy. However, the trustees regularly monitor the financial health of the charity to ensure that sufficient reserves are available to mitigate a possible loss of income or unexpected increase in expenses due to unforeseen circumstances. In practice, the charity has a very low fixed cost base, and therefore most or both its income and expenditure is variable in line with activities.

The Trustees have established the level of reserves (that is those funds which are freely available) that the charity ought to have. Reserves are needed to ensure that the day-to-day operation of the charity can be sustained. The charity's determination is to try to maintain reserves to cover 12 months of unrestricted expenditure.

6. KEY RISKS AND UNCERTAINTIES

The charity is exposed to various risks - be they operational, financial or reputational. The trustees review the charity's activities regularly to identify significant risks and, where possible, they take appropriate measures to mitigate those risks.

7. TRUSTEES/DIRECTORS

The Trustees/Directors as at the 31[st ] July 2023 were:

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Bethel School of Biblical Studies

TRUSTEES' REPORTS (continued) FOR THE YEAR ENDED 31 JULY 2023

8. RESPONSIBILITIES OF TRUSTEES UNDER COMPANY LAW

The trustees are responsible for preparing the trustees' annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of the affairs of the charitable company as at the balance sheet date and of its incoming resources and application of resources, including income and expenditure, for the financial year. In preparing these financial statements, the trustees are required to:

  1. select suitable accounting policies and apply them consistently;

  2. observe the methods and principles in the Charities SORP;

  3. make judgements and estimates that are reasonable and prudent;

  4. state whether the applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

  5. prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in operation.

The trustees responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

2. Approval

This report, which has been prepared by Clive Roberts in accordance with the provisions of the Companies Act 2006 relating to small companies, was approved by the trustees and signed on their behalf by:

MR Clive Roberts

General Secretary of the Trustee Board Date: 30/05/2023

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Bethel School of Biblical Studies

INDEPENDENT EXAMINNERS REPORT FOR THE YEAR ENDED 31 JULY 2023

I report on the financial statements of The Liberty Ministries International for the year ended 31 July 2023 which comprise the statement of financial activities, the balance sheet, and the related notes. These financial statements have been prepared under the historical cost convention and the accounting policies set out therein.

Respective responsibilities of trustees and independent examiner

As the charity's trustees you are responsible for the preparation of the accounts, you consider that the audit requirement of section 43(2) of the Charities Act 1993 (the Act),as amended by s.28 of the Charities Act 2006 does not apply. It is my responsibility to examine accounts under section 43 of the Act, as amended, to follow procedures specified in the General Directions given by the Charity Commissioners under section 43(7)(b) of the Act, as amended, whether particular matters have come to my attention.

Basis of independent examiner's statement

My examination was carried out in accordance with the General Directions given by the Charities Commissioners. 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 you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts.

Independent examiner's statement

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

........................................................... Tunji Ogedengbe 30th May 2024 36 Daffodil Close Hatfield AL10 9FF

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Bethel School of Biblical Studies

STATEMENT OF FINANCIAL ACTIVIES (incorporating income and expenditure) FOR THE YEAR ENDED 31 JULY 2023

Unrestricted Restricted Total
Funds
Funds
Funds
2023
2023
2023
Notes
£
£
£
INCOME AND ENDOWMENTS FROM:
Donations and legacies
3
6,111
-
6,111
Charitable activities
4
6,302
Investment
5
-
-
-
Total Income and Endowmwent
12,414
-
6,111
EXPENDITURE ON:
6
Charitable activities
761
761
Support Cost
11,298
11,298
Governance costs
-
Total Expenditure
12,058
-
12,058
Net movement in funds
355
-
355
-
Total funds brought forward
68,541
68,541
Prior Year Adjustment
-
TOTAL FUNDS CARRIED FORWARD
10
68,896
-
68,896		 Total
Funds
2022
£
14,612
7,644
-
22,256
962
3,170
4,132
18,125
50,416
68,541

The Notes on pages 11 to 14 formed part of these financial statements.

9

Bethel School of Biblical Studies

Balance Sheet At 31 JULY 2023

Notes
FIXED ASSETS
Tangible assets
CURRENT ASSETS
Debtors
7
Cash at bank
8
CREDITORS:Amounts falling due within one year
9
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
CREDITORS:Amounts falling due after more than one year
NET ASSETS
FUNDS
10
Unrestricted funds
Restricted funds
TOTAL FUNDS		 2023

£
-
69,272		 2023
£
68,897
68,897
-
68,897
68,896
68,896		 2022
£
-
68,916		 2022
£
68,541
69,272
375		 68,916
375
- -
68,541
-
- - 68,541
68,541
68,541

The charitable company is entitled to exemption from audit under Section 477 of lhe Companies Act 2006 for the year ended

i. ensuring the company keeps accounting records which comply with Section 386; and

ii. preparing accounts which give a true and fair view of the state of affairs of the company as at the end of the financial year, and of its profit or loss for the financial year, in accordance with the requirements of section 393, and which otherwise comply with the requirements of the Companies Act relating to accounts, so far as is applicable to the company.

d. These accounts have been prepared in accordance with the provisions applicable to companies subject to the small

The financial statements have bepn prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Trustees on 30th May 2024 and signed on their behalf, by

………………………………………… …………………………………… Name of Approving Trustee Name of Approving Trustee

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Bethel School of Biblical Studies

Notes to the Financial Statements For the year ended 31 July 2023

1. ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), the Companies Act 2006 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities.

Incoming resources

All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.

Resources expended

Expenditure is accounted for on an accruals basis 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.

Tangible fixed assets

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

Motor vehicles -25% on reducing balance Fixtures and fittings -12.5% straight line Computer Equipment -33.33% straight line

Taxation

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

Fund 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. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

2. VOLUNTARY INCOME

3. Donations

3. Donations
Donations of cash and similar
4. Income from Charitable Activities
Course fees
Accreditation fees
Rates rebate
Other revenue
5. Investment Income
Bank Interest		 2023
2022
£
£
6,111
14,612
6,111
14,612
2023
2022
6,028
7,235
170
275
239
6,302
7,644
2023
2022
-
-

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Bethel School of Biblical Studies

Detailed Statement of Financial Activities for the year ended 31 July 2023

6. Charitable Expenditure
Costs incurred directly on specific activities
Accreditation fees
Telephone and utilities
Costs incurred on support & administration
Goverance cost
Independent Examination
Other
Sub total- Goverance Cost
Other cost
Professional Fees
Paypal charges
Computer hardware
Bethel payments
Insurance
Marketing
Sub total- Other Cost
Total expenditure		 Unrestricted
Restricted
2023
2023
2022
£
£
£
330
330
431
632
761
-
962
375
375
241
616
375
3,375
811
84
108
1,564
1,406
5,000
-
459
470
200
10,682
2,795
11,298
-
3,170
12,058
-
4,132

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Bethel School of Biblical Studies

Notes to the Financial Statements - continued For the year ended 31 July 2023

TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 July 2023

Trustees' Expenses

There were no trustees' expenses paid neither for the year ended 31 July 2023

7. Debtors

Trade debtors
Total debtors
8. Cash
Cash at bank with immediate access
Total cash
9. Creditors: liabilities falling due within one year
Trade creditors
Accruals and deferred income		 2023
£
-
-
2023
£
69,271
69,271
2023
£
-
375
375		 2022
£
-
-
2022
£
68,916
68,916
2022
£
-
375
375

13

Bethel School of Biblical Studies

Notes to the Financial Statements - continued For the year ended 31 July 2023

MOVEMENT IN FUNDS

During the year the movements in the charity's funds were as follows:

Unrestricted funds Unrestricted funds

TOTAL FUNDS

Net movement in funds, included in the above are as follows:

Unrestricted funds Prior Year Adjustment TOTAL FUNDS

Net
movement in
At 1/08/22 funds At 31/07/23
£ £ £
68,541 - 355
 68,896
- - -
- - -
Incoming **Resources ** Net movement
resources expended
£ £ £
12,414 12,058 355
-
12,414 12,058 355

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