BETHANY INTERNATIONAL TRUSTEES’ REPORT YEAR ENDING-2020 HOUSE
BETHANY INTERNATIONAL HOUSE
FINANCIAL STATEMENT YEAR ENDING JUN 2020
REGISTERED CHARITY NO: 1140410
BETHANY INTERNATIONAL HOUSE FOR CHILDREN
FINANCIAL STATEMENT
YEAR ENDED JUNE 2020
BETHANY INTERNATIONAL TRUSTEES’ REPORT YEAR ENDING-2020 HOUSE
CONTENTS Page Charity particulars 1 Trustees’ report 2-3 Independent examiners’ report 4 Statement of financial activities 5 Balance sheet 6 Notes to the financial statements 7 -11
| BETHANY | |
|---|---|
| INTERNATIONAL | TRUSTEES’ REPORT YEAR ENDING-2020 |
| HOUSE | |
| TRUSTEES: | Benjamin Gaba |
| Ibironke Giwa | |
| PATRON | Apostle Mathew.A.Oluwajuba |
| PRINCIPAL OFFICE& | 214 the Headlands |
| CONTACT ADDRESS | Northampton |
| NN3 2 NX | |
| INDEPENDENT EXAMINER | |
| BANKERS: | Barclays Bank |
| Weston Favell | |
| Northampton |
BETHANY INTERNATIONAL HOUSE FOR CHILDREN
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BETHANY INTERNATIONAL TRUSTEES’ REPORT YEAR ENDING-2020 HOUSE
TRUSTEES’ REPORT
YEAR ENDED JUNE 2020
Objective
The objective of the charity is to provide relive and assistance to children’s needs and Substitute parenting.
Trustees
The trustees of the charity are listed on page 1 of the financial statement
Statement of trustees Responsibilities
The trustees are responsible for preparing the Annual Report and financial statements according to the law of the United Kingdom Accounting Standards
The law which applies to charities in England requires the trustees to prepare financial statements for each financial year .This gives a true view of how the charity operates and how we generate and manage the resources of the charity for that period. As the trustees prepare the financial statements, they are required to:
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Select suitable accounting policies and then apply them consistently.
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Observe the methods and principles in the charities SORP (FRSSE).
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Make judgements and estimates that are reasonable and prudent,
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State whether applicable accounting standards have been followed, subject to any material departure disclosed and explain in the financial statements,
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To prepare the financial statements accordingly for each financial year unless we see it in proper to continue in business.
It is the trustee’s responsibility to keep correct accounting records that will disclose any reasonable accuracy at any time for the financial position of the charity. This will enable them to be sure that the financial statement comply with the charities Act 2013, the charity (Accounts and Reports) Regulations 2008 and the provision of the trust deed. They are also in charge of safeguarding the assets of the charity and taking reasonable steps for the prevention and detection of fraud and other miss management.
Bethany International house for children is a charity registered with the charity commissions under number 1140410. This organisation is set up in Sierra Leone to help the underprivileged children in waterloo in due of the aftermath of the last war. The charity consists of a nursery school to encourage the little children with good education. We also have an orphanage for children who have lost one or both
The board of trustees ensures that the school and the orphanage are administered accurately by delegating a number of staff for the daily operation that is needed to run the school and the orphanage. All staff
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BETHANY INTERNATIONAL TRUSTEES’ REPORT YEAR ENDING-2020 HOUSE
including the finance officer report to the trustee at their bi-monthly meetings also has immediate access to the founder and trustee with specific areas of responsibility. The teaching staffs receive certain amount of salary each month as dose the maintenance man. Other staffs work voluntarily.
Since 2011 Bethany International house have been committed to providing quality education, accommodation, food and clothing to the under privilege and orphan children. The organisation is committed to provide all these facilities so as to help the children full fill a worthy life of destiny and to in turn change and educate their community. Our staffs have also tried to fulfil all the objectives that the founder and trustees would recognise and endorse.
The commitment of the staff and trustees has reflected in this year’s operation which have strengthen the need for and value of the provision provided for the under privilege children of Waterloo.
In 2020/19 we have managed to construct our auto modern nursery school building from foundation to wall height. This consists of four class rooms, two offices, chapel hall and five toilets. With this in mind we expect to in cure a heavy expenditure which will use up all our financial reserves and more so as to help finish the nursery. We understand that the expenses will be more than we anticipated so we will have to find a way of finding extra funds that will help us complete the building.
The trustee strategy of increasing financial provision is by fundraising. This enforces the charity to grow stronger and faster as time passes. The trustee has created other type of activities such as piggery, and poultry which will help to raise more funs so as to control the amount of expenditure each year to increase funding
The trustees extend their sincere thanks to all our partners, their staff and sub-contractors for such generosity shown to the charity and also to the children of waterloo in Sierra Leone.
The annual report was approved by the management committee and signed
Minister Susan Benjamin (Founder)
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Independent Examiners Report
BETHANY INTERNATIONAL TRUSTEES’ REPORT YEAR ENDING-2020 HOUSE
Independent Examiners report, we report on the accounts of Bethany International House for Children for the year end 30[th] June 2020
Respective responsibilities of trustees and examiner
As the Charity’s management committee you are responsible for the preparation of the accounts; you consider the audit requirement of section 43(2) of the Charities Act 1993(the Act) does not apply. It is our responsibility to state, on the basis of procedures specified in the General Directions given by the Charity Commissioners under section 43(b) of the Act, whether particular matters have come to our attention.
Basis Independent Examiners report
Our examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination include a review of the accounting records kept by the charity and a comparison of the accounts, and seeking explanations from you as the management committee concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently we do not express an audit opinion on the view given by the accounts
Independent examiners statement
In connection with our examination, no matter has come to our attention:
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1) Which gives us reasonable cause to believe that in any material respect the requirements (i) to keep accounting records in accordance with section 41 of the Act; and (ii) to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the Cat have not been met; or
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2) To which, in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached
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BETHANY INTERNATIONAL TRUSTEES’ REPORT YEAR ENDING-2020 HOUSE
INCOMING AND EXPENDITURE REPORT FOR THE YEAR ENDED 30[TH] JUNE 2020
| NOTES INCOMING RESOURCES Incoming resources from generated funds Funds invested by Founder 2 Donation funds 3 Total Incomingresources Resources Expended Building Costs 4 Travel Costs 5 Clothing Costs 6 Website costs 7 Expenses 8 Total Net Income/ (expenditure) and net movements in funds for the year |
Unrestricted funds Restricted Funds Total 2020 Total 2019 |
|
|---|---|---|
| £18,618.62 £0.00 £18,618.62 £16,202.76 £1,239.24 £0.00 £1,239.24 £3,679.45 |
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| £19,857.86 £0.00 £19,857.86 £19,882.21 |
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| (£17,758.00) £0.00(£17,758.00) (£16,732.20) (£675.00) £0.00 (£675.00) £0.00 (£150.00) £0.00 (£150.00) (£367.00) (£66.00) £0.00 (£66.00) (£72.00) (£1,200.00) £0.00 (£1,200.00) (£3,910.84) |
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| (£19,849.00) £0.00(£19,849.00) (£21,082.04) |
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| £8.86 £0.00 £8.86 (£1,199.83) |
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2020
BETHANY INTERNATIONAL TRUSTEES’ REPORT YEAR ENDING-2020 HOUSE
BALANCE SHEET AS AT 30[TH] JUNE 2020
| Notes Fixed Assets Tangible assets 9 Current assets Cash at Bank and in hand Net Current assets Total assets less current lia- bilities Creditors: amount falling due after more than one year 10 Net Assets Capital and reserves Net Surplus/deficit) |
817 | TOTAL 2020 £ 46,250 817 |
5 | TOTAL 2019 £ 31,125 5 |
|---|---|---|---|---|
| 47,067 (47,057. 23) |
31,130 (32,330) |
|||
| 9 | (1,200) | |||
| 9 | (1,200) |
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BETHANY INTERNATIONAL TRUSTEES’ REPORT YEAR ENDING-2020 HOUSE
1 ACCOUNTING POLICIES
Basis of preparation
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 January 2016). The financial statements have been prepared in accordance with the Statement of Recommended Practice (SORP) Accounting and Reporting by Charities published in March 2005 and applicable standards.
Funding 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
The cost of raising and admistering such funds are charged against specific funds.
Income and expenditure
Income, which is mainly donations and contribution from the founder of the charity, is accounted for when received except interest receivable which is accounted for an accruals basis. Expenditure is accounted for an accrual basis.
Legacies
Legacies are credited on receipt to the relevant funds as indicated by the wishes of the tesator. Where no such wishes have been expressed the receipts are credited to unrestricted funds.
Donations
Donations received in response to appeals for the building of the charity, to support the staff and the running in general of the Charity.
Grants
The charity does not receive any grants.
Resources Expended
All expenditure is accounted for on an accruals basis has been allocated to the development and running of the charity.
Fundraising costs are incurred in seeking voluntary contributions. Governance costs are those incurred in connection with admiration of the charity and compliance with constitutional and statutory requirements.
Depreciation
Depreciation is provided at a rate to write off the cost of fixed assets over their effective working lives. Hence, computer equipment and software is deprecated on a straight line basis over three years.
Taxation
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BETHANY INTERNATIONAL TRUSTEES’ REPORT YEAR ENDING-2020 HOUSE
The Charity’s surpluses are derived from, and applied toward, the maintenance of charitable activities and as such are not subject to taxations
Allocation of Costs
Costs are allocated to the specific project to which relate. Where costs cannot be directly attributed to particular heading, they have been allocated on basis consistent with the use of the resources.
2. INCOME RECEIVED
In 2020, £18,618.62 of donation income was unrestricted funds.
- Contribution of funds by the founder of charity to establish the charity, including the building of the school and home- £1,239.24
EXPENDITURE COSTS
Costs are all costs allocated to the running, maintaining, and building of Bethany including the cost of the founder’s flight and living costs to oversee the charity
- Costs of building Materials for the building of fence for the School and home, for the foundation and constructing of the building
| Description | 2020 |
|---|---|
| Payment for contractors | £2,375.00 |
| Buildingfoundations(PHASE 1) | £10,125.00 |
| Buildingfoundations(PHASE 2) | £5,000.00 |
| SchoolChairs & table | £258.00 |
| Total | £17,758.00 |
- Travel costs of the members of the trustee’s to manage and review the charity and running of the School.
| Description | 2020 |
|---|---|
| Flight Cost | £675.00 |
| Total | £675.00 |
- Cost of the School Materials for the students.
| Description | 2020 |
|---|---|
| MaterialCosts | £150.00 |
| Total | £150.00 |
- Cost of maintaining and running of the website for charity
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BETHANY INTERNATIONAL TRUSTEES’ REPORT YEAR ENDING-2020 HOUSE
| Description | 2020 |
|---|---|
| Website | £66.00 |
- Goods bought to contribute to the charity, including other expenses incurred by the Charity
| Description | 2020 |
|---|---|
| Expenses | £1,200.00 |
| Total | £1,200.00 |
9 Statement OF Assets at 30th June 2020
Fixed Assets
| Land & Building Motor Vehicle Currents Assets Cash at Bank Total Assets |
£46,250.00 £2,936.08 £816.66 |
|---|---|
| £50,002.74 |
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Land & Building
BETHANY INTERNATIONAL TRUSTEES’ REPORT YEAR ENDING-2020 HOUSE
| Cost of acquisition of land Site Preparation Surveyor Planning and Building Architects drawing Conveyance fees Solicitor Registration of Deeds Housing and Planning Permit National Revenue Authority Value of Building on land Motor Vehicle Cost Additions Depreciation Total |
£10,000.00 £300.00 £400.00 £1,125.00 £1,000.00 £425.00 £425.00 £425.00 £600.00 £100.00 £31,450.00 £46,250.00 £3,914.78 £0.00 £978.69 £2,936.08 |
£10,000.00 £300.00 £400.00 £1,125.00 £1,000.00 £425.00 £425.00 £425.00 £600.00 £100.00 £31,450.00 |
|---|---|---|
| £46,250.00 |
10 Creditors: amount falling due after more than one year: £47,057.23 (Funds owed to Founder Susan Benjamin, personal contribution to Charity)
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