2024-07-01-accounts - Greater Faith Ministries

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GREATER FAITH MINISTRIES

Trustees’ Report and Accounts for the year ending 01 July 2024

CONTENTS	PAGE
Legal and Administrative Details	2
Trustees' Report	3
Independent Examiners’ Report	6
Statement of Financial Activities	7
Balance Sheet	8
Notes to the Accounts	9
Detailed Statement of Financial Activities	11

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REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 01 JULY 2024

Trustees	Bishop Lennox Hamilton (Chair)
	Marlene Lorraine Miller
	Gladys Elaine McNeil
	Shirley Hamilton
Charity registered Number	1181468
Date of charitable registration	8thJanuary 2019
Principal office	Sedgehill Community Centre
	69-84 Sedgehill Road
	London
	SE6 3QN
Independent examiners	Accounting Assist Ltd C/O Good to Give Ltd
Bankers	Barclays Bank PLC

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TRUSTEES' REPORT FOR THE YEAR ENDED 01 JULY 2024

The Board of Trustees, who are the trustees for charity law purposes, submit their annual report and the financial statements of Greater Faith Ministries for the year ended 01 July 2024. The Board of Trustees confirm that the annual report and financial statements of the Charity comply with current statutory requirements, the requirements of the Charity's governing document and the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities (revised 2005)'.

Structure, governance and management

The 4 Trustees are:

Bishop Lennox Hamilton (Chair) Marlene Lorraine Miller Gladys Elaine McNeil Shirley Hamilton

The Trustees play a primary role in ensuring good governance and functioning of the charity. The Board’s role, functions and responsibilities are quite clearly defined.

The Charity currently has a strong team of Advisory Board members in the UK who have helped to secure financial support and contribute to the future planning of the organisation.

Governing document:

Greater Faith Ministries is a Charitable Incorporated Organisation (CIO) and registered as a Charity on 8 January 2019. The charity is governed by its constitution dated 1 July 2018.

Recruitment and appointment of trustees:

The members of the General Trustee Board are trustees for the purposes of charity law. New trustees may be appointed by resolution of a meeting of the trustees.

Much of the charity's work focuses upon the promotion of the Christian religion and the running and maintenance of its places of worship.

The General Trustee Board seeks to ensure that the needs of this group are appropriately reflected through the diversity of the trustee body. To enhance the potential pool of trustees, the charity has, through selective advertising and networking with voluntary organizations active in the sector, sought to identify those who would be willing to become members of the charity and use their own experience to assist the charity.

Risk Management:

We are committed to a policy of identifying, monitoring and managing the risks that might adversely affect the activities in which we are involved. In this context, risk is defined as the potential to fail to achieve charity objectives and for loss, financial and reputational, inherent in the environment in which we operate in the nature of the transactions undertaken.

The principal risk of the charity has been its dependence on voluntary income. Trustees have initiated

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TRUSTEES' REPORT FOR THE YEAR ENDED 01 JULY 2024

various processes to mitigate such risk, so that the charity has sufficient reserve in the event of adverse condition(s).

The trustees have also examined other operational and business risks which they face and confirm that they have taken steps to mitigate the significant risks.

Public Benefit:

The Trustees have complied with the duty in Section 4 of the Charities Act 2006 and have paid due regard to public benefit when preparing this report. The benefit provided to the public is consistent with the aims of the charity in UK.

Objectives and activities:

To advance the Christian faith for the benefit of the public in accordance with the statements of belief appearing in the schedule.
To promote for the benefit of the inhabitants of London and the surrounding area the provision of facilities for recreation or other leisure time occupation of individuals who have need of such facilities by reason of their youth, age, infirmity or disablement, financial hardship or social and economic circumstances or for the public at large in the interests of social welfare and with the object of improving the condition of life of the said inhabitants.
To act as a resource for young people by providing advice and assistance and organising programmes of physical, educational and other activities as a means of:
advancing in life and helping young people by developing their skills, capacities and capabilities to enable them to participate in society as independent, mature and responsible individuals.
advancing education

Financial review:

The largest contribution to the charity for the year came from general offerings. The charity has begun its charitable activities from its inception.

The Charity currently aims to designate the total fund received less expenses for the main objective of the charity.

Plans for future periods:

The Charity plans to develop various fundraising strategy to include mass marketing. Besides mass marketing and events, the charity is aiming to achieve its targets through securing donations from willing individuals. A development board may be created to help include other avenues of fundraising to be included in the yearly programme.

Statement of Board of Trustees’ responsibilities:

The Board of Trustees are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice. Charity law applicable to charities in England/Wales requires the Board of Trustees to prepare

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TRUSTEES' REPORT FOR THE YEAR ENDED 01 JULY 2024

financial statements for each financial year which gives a true and fair view of the state of affairs of the Charity and of the surplus or deficit of the Charity for that period. In preparing those financial statements the Board of Trustees have:

Selected suitable accounting policies and applied them consistently,
Made judgments and estimates that are reasonable and prudent,
Stated whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements.
Prepared the financial statements on a going concern basis (unless it is inappropriate to presume that the Charity will continue in operation).

The Board of Trustees has overall responsibility for ensuring that the Charity has an appropriate system of controls, financial and otherwise. They are also responsible for keeping proper accounting records. disclose with reasonable accuracy at any time the financial position of the Charity 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 Charity and hence for taking reasonable steps for the detection and prevention of fraud and other irregularities.

The Board of Trustees is responsible for the maintenance and integrity of the corporate and financial information. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Statement of disclosure of information to independent examiner

We, as the Trustees of the Charity who held office at the date of approval of these financial statements as set out on page 2 each confirm, so far as we are aware, that:

There is no relevant information of which the Charity's independent examiner are unaware; and we have
taken all the steps that we ought to have taken as Trustees in order to make ourselves aware of any relevant information and to establish that the charity's independent examiner is aware of that information.

Independent Examiner:

The Charity's independent examiner, Anum Hassan, FCCA of Accounting Assist Ltd C/o Good to Give Ltd, have indicated their willingness to offer themselves for appointment.

This report was approved by the Trustees on and signed on their behalf by:

Name ………………………. Shirley Hamilton

Signature…………………….

Date………………………….

~~25th April 2025~~ 5 | P a g e

INDEPENDENT EXAMINER’S REPORT FOR THE YEAR ENDED 01 JULY 2024

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF GREATER FAITH MINISTRIES

I report on the financial statements of the charity for the year ended 01 July 2024 which comprise the Statement of Financial Activities and Balance Sheet with associate notes.

This report is made solely to the charity's Trustees, as a body, in accordance with section 145 of the Charities Act 2011 and regulations made under section 154 of that Act. My work has been undertaken so that I might state to the charity's Trustees those matters I am required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's Trustees as a body, for my examination work.

Respective Responsibilities of Trustees and Examiner

The charity's Trustees are responsible for the preparation of the financial statements, and they consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the Act) and that an independent examination is needed.

It is my responsibility to:

Examine the accounts (under Section 145 of the Charities Act);
To follow the procedures laid down in the General Directions given by the Charity Commissioners (under Section 145(5)(b) of the Charities Act); and
To state whether particular matters have come to my attention.

Basis of Independent Examiner's report

My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the Group/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 no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.

Independent Examiner's statement

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

1) which gives me reasonable cause to believe that in any material respect the requirements: • to keep accounting records in accordance with section 130 of the Act; and
to prepare financial statements which accord with the accounting records and comply with the accounting requirements of the Act

have not been met; or

2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached.

Signed: Dated: 25/04/2025

Anum Hassan, FCCA On behalf of Accounting Assist Ltd

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STATEMENT OF FINANCIAL ACTIVITIES (Incorporating income and expenditure account) FOR THE YEAR ENDED 01 JULY 2024

Unrestricted Restricted Total Funds Total Funds 2024 2024 2024 2023 Notes £ £ £ £ Incoming resources General offerings 48,414 - 48,414 65,788 Gift Aid 6,129 - 6,129 - Other Income 600 - 600 - Total Incoming resources 55,143 0 55,143 65,788 Resources expended Direct charitable expenditure 64,739 - 64,739 46,261 Governance costs 921 - 921 1,080 Total Resources expended 65,660 0 65,660 47,341 Movement in total fund for the year- Net income / (expenditure) For the year -10,516 0 -10,516 18,446 Fund balance brought forward 51,035 0 51,035 28,613 Fund balance carried forward 40,519 0 40,519 47,059	Unrestricted Restricted Total Funds Total Funds 2024 2024 2024 2023 Notes £ £ £ £ Incoming resources General offerings 48,414 - 48,414 65,788 Gift Aid 6,129 - 6,129 - Other Income 600 - 600 - Total Incoming resources 55,143 0 55,143 65,788 Resources expended Direct charitable expenditure 64,739 - 64,739 46,261 Governance costs 921 - 921 1,080 Total Resources expended 65,660 0 65,660 47,341 Movement in total fund for the year- Net income / (expenditure) For the year -10,516 0 -10,516 18,446 Fund balance brought forward 51,035 0 51,035 28,613 Fund balance carried forward 40,519 0 40,519 47,059	Unrestricted Restricted Total Funds Total Funds 2024 2024 2024 2023 Notes £ £ £ £ Incoming resources General offerings 48,414 - 48,414 65,788 Gift Aid 6,129 - 6,129 - Other Income 600 - 600 - Total Incoming resources 55,143 0 55,143 65,788 Resources expended Direct charitable expenditure 64,739 - 64,739 46,261 Governance costs 921 - 921 1,080 Total Resources expended 65,660 0 65,660 47,341 Movement in total fund for the year- Net income / (expenditure) For the year -10,516 0 -10,516 18,446 Fund balance brought forward 51,035 0 51,035 28,613 Fund balance carried forward 40,519 0 40,519 47,059
	Notes Incoming resources General offerings Gift Aid Other Income Total Incoming resources Resources expended Direct charitable expenditure Governance costs Total Resources expended Movement in total fund for the year- Net income / (expenditure) For the year Fund balance brought forward Fund balance carried forward	Unrestricted Restricted Total Funds Total Funds 2024 2024 2024 2023 £ £ £ £ 48,414 - 48,414 65,788 6,129 - 6,129 - 600 - 600 -
		55,143 0 55,143 65,788
		64,739 - 64,739 46,261 921 - 921 1,080
		65,660 0 65,660 47,341
		-10,516 0 -10,516 18,446 51,035 0 51,035 28,613 40,519 0 40,519 47,059

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BALANCE SHEET AS AT 01 JULY 2024

2024 2023 Note £ £ £ £ FIXED ASSETS Building - - CURRENT ASSETS Debtors 1,632 81 Cash at bank 40,887 48,059 42,520 48,139 CREDITORS:amounts falling due within one year 2,001 1,080 NET CURRENT ASSETS 40,519 47,059 NET ASSETS 40,519 47,059 CHARITY FUNDS Unrestricted funds 40,519 47,059 Restricted funds - - TOTAL FUNDS 40,519 47,059	2024 2023 Note £ £ £ £ FIXED ASSETS Building - - CURRENT ASSETS Debtors 1,632 81 Cash at bank 40,887 48,059 42,520 48,139 CREDITORS:amounts falling due within one year 2,001 1,080 NET CURRENT ASSETS 40,519 47,059 NET ASSETS 40,519 47,059 CHARITY FUNDS Unrestricted funds 40,519 47,059 Restricted funds - - TOTAL FUNDS 40,519 47,059	2024 2023 Note £ £ £ £ FIXED ASSETS Building - - CURRENT ASSETS Debtors 1,632 81 Cash at bank 40,887 48,059 42,520 48,139 CREDITORS:amounts falling due within one year 2,001 1,080 NET CURRENT ASSETS 40,519 47,059 NET ASSETS 40,519 47,059 CHARITY FUNDS Unrestricted funds 40,519 47,059 Restricted funds - - TOTAL FUNDS 40,519 47,059	2024 2023 Note £ £ £ £ FIXED ASSETS Building - - CURRENT ASSETS Debtors 1,632 81 Cash at bank 40,887 48,059 42,520 48,139 CREDITORS:amounts falling due within one year 2,001 1,080 NET CURRENT ASSETS 40,519 47,059 NET ASSETS 40,519 47,059 CHARITY FUNDS Unrestricted funds 40,519 47,059 Restricted funds - - TOTAL FUNDS 40,519 47,059
£ 1,632 40,887	2024 £ - 40,519	£ 81 48,059	2023 £ - 47,059
42,520 2,001		48,139 1,080

	40,519		47,059
	40,519 -		47,059 -
	40,519		47,059

The financial statements were approved by the Trustees and signed on their behalf, by:

Name ……………………….

Signature…………………….

Date………………………….

The notes on pages 9 - 10 form part of these financial statements

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NOTES TO THE FINANCIAL STATEMENT FOR THE YEAR ENDED 01 JULY 2024

1. ACCOUNTING POLICIES

1.1 Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008). The financial statements have been prepared in accordance with the Statement of Recommended Practice (SORP), 'Accounting and Reporting by Charities' published in December 2005 and applicable accounting standards.

1.2 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

1.3 Incoming resources

All incoming resources are included in the Statement of financial activities when the charity has entitlement to the funds, certainty of receipt and the amount can be measured with sufficient reliability.

Donated services or facilities, which comprise donated services, are included in income at a valuation which is an estimate of the financial cost borne by the donor where such a cost is quantifiable and measurable. No income is recognised where there is no financial cost borne by a third party.

Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

1.4 Resources expended

Expenditure is accounted for on an accruals basis and has been included under expense categories that aggregate all costs for allocation to activities. Where costs cannot be directly attributed to particular activities, they have been allocated on a basis consistent with the use of the resources.

Fundraising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities. Support costs are those costs incurred directly in support of expenditure on the objects of the charity and include project management carried out at Headquarters. Governance costs are those incurred

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NOTES TO THE FINANCIAL STATEMENT FOR THE YEAR ENDED 01 JULY 2024 (Continued)

in connection with administration of the charity and compliance with constitutional and statutory requirements.

1.5 Trustee Expenses

During the year Trustee Expenses totalled £18,107 (2023: £16,800)

1.6 Prior Year Adjustment

The closing bank balance as of 31 July 2023 was understated by £3,975, with the prior year’s balance reported as £48,059 instead of the correct £52,034 per the bank statement. This discrepancy has been corrected by adjusting the opening bank balance in the current year’s balance sheet to reflect the accurate amount.

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DETAILED STATEMENT OF FINANCIAL ACTIVITIES (Incorporating Income and Expenditure Account) FOR THE YEAR ENDED 01 JULY 2024

Incoming Resources: General Offering Gift Aid Other Income Total Incoming Resources Resources Expended: Advertising Insurance Priest Zoom Cost General Expenses Musician Rent Gift & Donations Coach Hire & Equipment Governance Costs Total Expenditure Net Income / Expenditure	Unrestricted 2024 Total 2024 Total 2023 £ £ £ 48,414 48,414 65,788 6,129 6,129 - 600 600 -
	55,143 55,143 65,788
	1,010 1,010 800 470 470 1,530 18,247 18,247 16,800 235 235 267 15,399 15,399 12,200 6,600 6,600 1,433 16,876 16,876 16,800 5,201 5,201 1,450 700 700 8,889 921 921 1,080
	65,660 65,660 47,341
	-10,516 -10,516 18,446

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