## **Halleluyah Gate Ministries** **Charity No. 1181772** **Company No. 09429824** **Trustee's Report and Unaudited Accounts** **28 Feburary 2023** ## **Halleluyah Gate Ministries CONTENTS** ||**Pages**| |---|---| |**Trustees Annual Report**|**2**| |**Statement Of Financial Activities**|**3**| |**Summary Income And Expenditure Account**|**4**| |**Balance Sheet**|**5**| |**Notes To The Accounts**|**6-12**| |**Detailed Statement Of Financial Activities**|**13-14**| Page 1 ## **Halleluyah Gate Ministries TRUSTEES ANNUAL REPORT** The Trustee, who is also a director of the charity for the purposes of the Companies Act 2006, presents their report with the unuadited financial statements of the charity for the year ended 28 Feburary 2022. ## **REFERENCE AND ADMINISTRATIVE DETAILS** Company No. 09429824 Charity No. 1181772 Registered Office 28 Steven Close Chatham Kent ME4 5NG ## **Director and Trustee** The Director of the charitable company are its Trustee for the purposes of charity law. The following Director and Trustee served during the year: ## **ANTHONY IKEMEFUNA** ## **Directors of Corporate Trustees** Donatus Okoro Olusola Obasa Anthony Ikemefuna Edith Ekwulira Eneanya-Bonito ## **Accountants** Paul Victoria Accountants 2nd Floor 134 South street Romford, Essex RM1 1TE The Trustee is responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with taking reasonable steps for the the Companies Act 2006. The Trustee is also responsible for safeguarding the assets of the charity and hence prevention and detection of fraud and other irregularities. The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP (FRS 102). Signed on behalf of the board ANTHONY IKEMEFUNA Trustee 25 July 2024 Page 2 ## **Halleluyah Gate Ministries STATEMENT OF FINANCIAL ACTIVITIES** ## **for the year ended 28 February 2023** |**Notes**
Income and endownments
from:
Donations and Legacies
**4**
Grants
Gift Aid Reclaim
**Total**
**Expenditure on:**
Raising funds
**5**
Charitable activities
**6**
Other
**7**
**Total**
Net gains on investment
**Net(expenditure)/income**
**8**
Transfers between funds
**Net(expenditure)/income**
**before other gains/(losses)**
**Other gains and losses:**
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**|**Unrestricted**
**funds**
**2023**
**£**
43,286
0
11,706|**Restricte**
**d funds**
**2023**
**£**
0
0
0|**Total**
**Funds**
**Total**
**Funds**
**2023**
**#**
**2022**
**£**
**£**
43,286
58,107
0
7,497
11,706
31,864
**54,992**
**97,468**
0
8,249
4,315
2,831
58,830
81,154
**63,145**
**92,234**
0
0
**(8,154)**
**5,234**
0
0
**(8,154)**
**5,234**
0
0
**(8,154)**
**5,234**
(10,898)
(16,132)
**(19,052)**
**(10,898)**|**Total**
**Funds**
**Total**
**Funds**
**2023**
**#**
**2022**
**£**
**£**
43,286
58,107
0
7,497
11,706
31,864
**54,992**
**97,468**
0
8,249
4,315
2,831
58,830
81,154
**63,145**
**92,234**
0
0
**(8,154)**
**5,234**
0
0
**(8,154)**
**5,234**
0
0
**(8,154)**
**5,234**
(10,898)
(16,132)
**(19,052)**
**(10,898)**| |---|---|---|---|---| ||**54,992**
0
4,315
58,830|**0**
0
0
0|**54,992**
0
4,315
58,830|**97,468**
8,249
2,831
81,154| ||**63,145**
0|**0**
0|**63,145**
0|**92,234**
0| ||**(8,154)**
0|**0**
0|**(8,154)**
0|**5,234**
0| ||**(8,154)**
0|**0**
0|**(8,154)**
0|**5,234**
0| ||**(8,154)**
(18,173)|**0**
7,275|**(8,154)**
(10,898)|**5,234**
(16,132)| ||**(26,327)**|**7,275**|**(19,052)**|**(10,898)**| Page 3 ## **Halleluyah Gate Ministries SUMMARY INCOME AND EXPENDITURE ACCOUNT** ## **for the year ended 28 February 2023** |Income
Gift Aid
Bank interest
Gross income for the year
Expenditure
Depreciation and charges for
impairement of fixed assets
**Total expenditure for the year**
Net(expenditure)/income before
tax for the year
**Net(expenditure)/income for the year**|**2023**
**£**
40,291
11,706
0
51,997
63,145
5,614
**68,759**
(8,154)
**(8,154)**|**2022**
**£**
58,107
39,361
0| |---|---|---| |||97,468| |||92,234
5,614| |||**97,848**| |||5,233| |||**5,233**| Page 4 ## **Halleluyah Gate Ministries BALANCE SHEET** ## **as at 28 February 2023** |**Company No. 09429824**
**Notes**
**Fixed assets**
Tangible assets
**10**
**Current Assets**
Debtors
**11**
Cash at bank and in hand
**Net Current Assets**
**Creditors: Amount falling due within one year**
**Total assets less current liabilities**
**Creditors: Amount falling due after more than one year**
**Net assets excluding pension asset or liability**
**Total net assets**
**The funds of the charity**
**Restricted funds**
**12**
Restricted income funds
**Unrestricted funds**
**12**
General funds
**Reserves**
**12**
**Total funds**|**2023**
**£**
**14,999**
14,999
4,094
4,790
8,884
**8,884**
**(8,740)**
**15,142**
**(34,194)**
**(19,052)**
**(19,052)**
**7,275**
**7,275**
**(26,327)**
**(26,327)**
**(19,052)**|**2022**
**£**
**20,612**| |---|---|---| |||20,612
3,094
15,346| |||18,440| |||**18,440**
**(15,447)**| |||**23,605**
**(34,594)**
**(10,989)**| |||**(10,989)**| |||**7,275**| |||**7,275**
**(18,173)**| |||**(18,173)**| |||**(10,898)**| These accounts hae been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. For the year ended 28 February 2022 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. Approved by the board on 12 January 2024 And signed on its behalf by: ## ANTHONY IKEMEFUNA Trustee 25 July 2024 Page 5 ## **Halleluyah Gate Ministries NOTES TO THE ACCOUNTS** ## **for the year ended 28 February 2023** ## **1 Accounting policies** ## **Basis of preparation** The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts inaccordance with the Financial Reporting Standard applicable in the UKandRepublicofIreland(FRS102)(effective1 January2015) -(CharitiesSORP(FRS102)), the FinancialReporting Standard applicable in the UK and Republic of Ireland (FRS102)and theCompanies Act 2006. ## **Change in basis of accounting or to previous accounts** There has been no change to the accounting policies(valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years. ## **Fund accounting** |**Fund accounting**|| |---|---| |Unrestricted funds|These are available for use at the discretion of the trustees in furtherance of the| ||general objects of the charity.| |Designated funds|These are unrestricted funds earmarked by the trustees for particular purposes.| |Revaluationfunds|These are unrestricted funds which include are valuation reservere presenting the| ||restatement of investment assets at their market values.| |**Income**|| |Recognitionof incomeIncome is included in the Statement of Financial Activities (SoFA)when the charity|| ||becomes entitled to,and virtually certain to receive,the income and the amount of| ||income can be measured with sufficient reliability.| |Income with|Where income has related expenditure the income and related expenditure is reported| |related expenditure|gross in the SoFA.| |Donations and|Voluntary income received by way of grants,donations and gifts is included in the SOFA| |Legacies|when receivable and only when the Charity has unconditional entitlement to the income.| |Tax reclaims on|Income from tax reclaims is included in the SoFA at the same time as the gift/donation| |donations and gifts|to which it relates.These are only included in income(with an equivalent amount in| |Donated services|expenditure) where the benef it to the Charity is reasonably quantifiable,measurable| |and facilities|and material.| |Volunteer help|The value of any volunteer help received is not included in the accounts.| |Investment income|This is included in the accounts when receivable.| |Gains/(losses)on|This includes any gain or loss resulting from revaluing investments to market value at| |revaluation of fixed assethe end of the year.|| Page 6 ## **Halleluyah Gate Ministries NOTES TO THE ACCOUNTS** ## **Expenditure** Recognition of Expenditure is recognised on anaccruals basis.Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to whch it relates. Expenditure on These comprise the costs associated with attracting voluntary income,fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of it sactivities and charitable activities services in the furtherance of its objects,including the making of grants and governance costs. Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrualf for grants that have been approved by the trustees at the end of the year but not yet paid. Governance costs These include those costs associated with meeting the constitutionaland statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs. Other expenditure These are support costs not allocated to a particular activity. **Taxation** The charity is exempt from corporation tax on its charitable activities. ## **Freehold investment property** Investment properties are revalued annually and any surplus or deficit is dealt with throug the Statement of Financial Activities.No depreciation is provided in respect of investment properties. This treatment conflicts with the requirements of the Companies Act 2006 that all properties should be depreciated. The directors consider that, because these peoperties are not held for consumption, but for their investment necessary to adopt the requirements of the FRSSE in order to give a true and fair view. ## **Stocks** Stock is included at the lower of cost or net realisable value.Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market. ## **Trade and other debtors** Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discount due. ## **Cash and cash equivalents** Cash and cash equivalents comprise cash at bank and on hand,demand deposits with banks and other short-term highly liquid investments with original maturties of three months or less and bank overdrafts. In the statement of financial position,bank overdrafts are shown within borrowings or current liabilities. In the Statement of CashFlows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demandand form an integral part of the company's cash management. Page 7 ## **Halleluyah Gate Ministries NOTES TO THE ACCOUNTS** ## **Trade and other creditors** Short term creditors are measured at the transaction price.Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discount due. ## **Foreign currencies** Monetary assets and liabilities denominated in currencies other than the functional currency of the charityare translated at the rates of exchange prevailing at the end of the reporting period. Transactions in currencies other than the functional currency of charity are recorded at the rate of exchange on the date that the transaction occurred. ## **Leased assets** Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease. Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and the reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balancy of liability. Finance expenses are recognised immediately, unless they are directly attributableto qualifying assets, in which case they are capitalised in accordance with the charity's spolicy on borrowing costs. Assets held under finance leases are depreciated in the same way as owned assets. Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, suchi ncentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expenses on a straight-line basis. ## **Pension costs** The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been the company has no further payments obligations. The contributions are recognised as expenses when they fall due.Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held seperately from the company in independently administered funds. ## **2. Company status** The company is a private company limited by guarantee and consequently does not have share Capital. Page 8 ## **Halleluyah Gate Ministries NOTES TO THE ACCOUNTS** ## **3 Statement of Financial Activities-prior year** |**Unrestricted funds Restricted funds**
**2022**
**2022**
**£**
**£**
**Income and endowments from:**
Donations and Legacies
58,107
0
Grants
7,497
**Total**
65,604
0
**Expenditure on:**
Raising funds
0
0
Charitable activities
11,080
0
Other
81,154
0
**Total**
92,234
0
**Net expenditure**
(26,630)
0
**Transfer between funds**
0
0
**Net Income before other gains/(losses):**
(26,630)
0
**Other gains and losses:**
0
0
**Net movement in funds:**
(26,630)
0
**Reconciliation of funds:**
Total funds brought forward
(13,196)
0
**Total funds carried forward**
(39,826)
0
**4 Income from donations and legacies**
**Unrestricted funds**
**Total**
**2023**
**2023**
**£**
**£**
43,286
43,286
43,286
43,286
**5 Expenditure on raising funds**
**Total**
**2023**
**£**
_Costs of generating voluntary_
_income_
0
0|**Unrestricted funds Restricted funds**
**2022**
**2022**
**£**
**£**
**Income and endowments from:**
Donations and Legacies
58,107
0
Grants
7,497
**Total**
65,604
0
**Expenditure on:**
Raising funds
0
0
Charitable activities
11,080
0
Other
81,154
0
**Total**
92,234
0
**Net expenditure**
(26,630)
0
**Transfer between funds**
0
0
**Net Income before other gains/(losses):**
(26,630)
0
**Other gains and losses:**
0
0
**Net movement in funds:**
(26,630)
0
**Reconciliation of funds:**
Total funds brought forward
(13,196)
0
**Total funds carried forward**
(39,826)
0
**4 Income from donations and legacies**
**Unrestricted funds**
**Total**
**2023**
**2023**
**£**
**£**
43,286
43,286
43,286
43,286
**5 Expenditure on raising funds**
**Total**
**2023**
**£**
_Costs of generating voluntary_
_income_
0
0|**Total funds**
**2022**
**£**
58,107
7,497| |---|---|---| ||0
0
0
0
0
0
0
0
0
0
0
0
**Total**
**2023**
**£**
43,286
43,286
**Total**
**2023**
**£**
0
0|65,604
0
11,080
81,154| |||92,234| |||| |||(26,630)
0| |||(26,630)
0| |||(26,630)
(13,196)| |||(39,826)| |||**Total**
**2022**
**£**
58,107| |||58,107| |||**Total**
**2022**
**£**
8,249| |||8,249| Page 9 ## **Halleluyah Gate Ministries NOTES TO THE ACCOUNTS** ## **6 Expenditure on charitable activities** |**Unrestricted fuds**
**2023**
**£**
_Expenditure on charitable_
_activities_
4,315
_Raising Funds_
0
_Governance costs_
1,113
5,428
**7 Other expenditure**
**Unrestricted funds**
**£**
Employee costs
17,785
Motor and travel costs
3,017
Premises costs
27,537
Amortisation, depreciation,
0
impairment, profit/loss on
0
disposal of fixed assets
0
General administrative costs
3,766
Legal and professional costs
0
52,104
**8 Net (expenditure)/income before transfers**
**2023**
This is stated after charging:
**£**
Depreciation of owned fixed assets
5,614
**9 Staff costs**
Salaries and wages
15,848
Social security costs
1,936
Training
0
17,785|**Total**
**2023**
**£**
4,315
0
1,113
5,428
**Total**
**2023**
**£**
17,785
3,017
27,537
0
0
0
3,766
0
52,104|**Total**
**2022**
**£**
2,831
8,249
2,112| |---|---|---| |||13,192| |||**Total**
**2022**
**£**
28,121
4,351
34,505
0
0
0
6,451
0| |||73,428| |||**2022**
**£**| |||5,614| |||26,185
1,936
0| |||28,121| No employee received emoluments in excess of £60,000. Page 10 ## **Halleluyah Gate Ministries NOTES TO THE ACCOUNTS** **10 Tangible fixed assets** |**Cost or revaluation**
Additions
at 28 February 2022
**Depreciation and**
**impairement**
At 1 March 2022
Depreciation charge for
the year
At 28 February 2023
**Net book values**
At 28 February 2023
At 28 February 2022
**11 Debtors**
Trade debtors
**12 Movement in funds**
**At 1**
**March**
**2022**
**£**
**Restricted funds:**
**Restricted**
**income funds:**
7,275
_Total_
7,275
**Unrestricted funds:**
**General funds**
(18,173)
**Revalation Reserves:**
(10,898)|**TFA 2**
**£**
4,021
0
4,021
1,341
1,341
2,682
2,681
4,021
**g**
**resources**
**(including**
**other**
**gains/los**
**ses)**
**£**
0
0
54,992
54,992|**TFA3**
**£**
8,001
0
8,001
13,092
4,273
17,365
3,728
8,001
**2023**
**£**
4,094
4,094
**Resource**
**s**
**Expended**
**£**
0
0
63,145
63,145|**Investment**
**£**
8,590
0
8,590
0
0
0
8,590
8,590
**Gross**
**Transfers**
**£**
0
0
0
0|**Total**
£
20,612
0| |---|---|---|---|---| |||||20,612| |||||14,433
5,614| |||||20,047| |||||14,999| |||||20,612| |||||**2022**
**£**
3,094| |||||3,094| |||||**At 28**
**February**
**2023**
**£**
7,275| |||||7,275| |||||(26,327)| |||||(19,052)| Page 11 ## **Halleluyah Gate Ministries NOTES TO THE ACCOUNTS** ## **13 Analysis of net assets between funds** |**13 Analysis of net assets between funds**|| |---|---| |**Unrestricted funds**
**£**
Fixed assets
14,999
Net current assets
0
14,999|**Total**
£
14,999
0| ||14,999| **14 Related party disclosures** _**Controlling**_ **party** Page 12 ## **Halleluyah Gate Ministries DETAILED STATEMENT OF FINANCIAL ACTIVITIES** ## **for the year ended 28 February 2023** ||**Unrestricted funds**|**Total funds**|**Total funds**| |---|---|---|---| ||**2023**|**2023**|**2022**| ||**£**|**£**|**£**| |**Income and endowments from:**|||| |Donations and Legacies|43,286|43,286|58,107| |Grants|0|0|7,497| |Gift Aid Reclaim|11,706|11,706|31,864| ||54,992|54,992|97,468| |**Total income and endownments**|54,992|54,992|97,468| |**Expenditure on:**|||| |Costs of generating donations and|||| |legacies|0|0|8,249| ||0|0|8,249| |**Total of expenditure on raising funds**|0|0|8,249| |Charitable activities|||| ||4,315|4,315|2,831| ||4,315|4,315|11,080| |**Total of expenditure on charitable activities**|4,315|4,315|11,080| |Other expenditure|0|0|0| ||0|0|0| |Employee costs|||| |Salaries/wages|14,072|14,072|24,829| |Pension|1,776|1,776|1,356| |Employer's NIC|1,936|1,936|1,936| |Training|0|0|| ||17,785|17,785|28,121| |Motor and travel costs|||| |Vehicles-General costs|0|0|0| |Vehicles-Fuel|3,017|3,017|3,556| |Travel and subsistence|0|0|795| ||3,017|3,017|4,351| |Premises costs|||| |Rent|27,537|27,537|34,505| ||27,537|27,537|34,505| Page 13 ## **Halleluyah Gate Ministries DETAILED STATEMENT OF FINANCIAL ACTIVITIES** ## **for the year ended 28 February 2023** |General administrative costs,
including depreciation and amortisation
Repairs
Utilities
Equiment expensed
Software, IT support and related costs
Freight
Postage
Subscription
Stationery and printing
Telephone, fax and broadband
Legal and professional costs
Accountancy and bookkeeping
**Total of expenditure of other costs**
**Total expenditure**
Net gains on investment
**Net(expenditure)/income**
Transfers between funds
**Net(expenditure)/income**
**before other gains/(losses)**
Other Gains
**Net movement in funds**|5,614
450
2,285
0
0
0
0
1,031
0
0
9,379
0
1,113
1,113
58,830
63,145
0
(8,154)
0
(8,154)
0
(8,154)|5,614
450
2,285
0
0
0
0
1,031
0
0
9,379
0
1,113
1,113
58,830
63,145
0
(8,154)
0
(8,154)
0
(8,154)|5,614
3,781
1,409
0
0
0
75
536
650
0| |---|---|---|---| ||||12,065| ||||0
2,112| ||||2,112| ||||| ||||81,154| ||||92,234
0| ||||5,234
0| ||||5,234
0| ||||5,234| Page 14 ## **Independent examiner's report on the accounts** ## **Section A Independent Examiner’s Report** ## **Report to the trustees/** **members of** Halleluyah Gate Ministries **On accounts for the yea** 28 February 2023 Charity no: 1181772 **ended Set out on pages** 2 to 15 I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 28 February 2022. As the charity trustees of the Trust, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”). **Responsibilities and basis of report** I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. I have completed my examination. I confirm that no material matters have come to my attention (other than that disclosed below *) in connection with the examination which **Independent examiner's** gives me cause to believe that in, any material respect: **examiner's statement** · accounting records were not kept in accordance with section 130 of the Act or · the accounts do not accord with the accounting records I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached. **Signed:** Date: 12 January 2024 **Name:** Olushola Olalekan Shokunbi **qualification(s) or body:** FCCA Address: Paul Victoria Accountants, 2nd Floor 134 South street, Romford, Essex RM1 1TE