C'liaritj Number 11115224 ASSE.NIBLY OF GOD SOIVERS OF GOOD NEWS MI￿lsTRIEs TRLSTEES. REPORT A￿D FINAliCIAL sTATE￿IENTs FOR THE YEAR E￿DED 311071202? ASSEMIILY Oli GOD SOIVER.S Ob. GOOD NF.WS ,MINISTRIFS C'onlLnts Lcgal and adn)inislrnliic infornialion Trusloys report Indcpcndcnl Eianiincr s Rcport Statcmcnt of financial actii'itics Balancc Slicct Notcs to Ilic financial stat¢mcnts ASSEMBLY OF GOD SOWERS OF GOOD NEWS MINISTRIES CHARITY INFORMATION FOR THE YEAR ENDED 3110712022 TRUSTEES: Marta Ghezzi Silmar Ghezzi Bruno Santos REGISTERED OFFICE. CIO Braernar Avenue Baost Church Braemar Avenue Wood Green London N22 7BY CHARITY NUMBER: 1185224 ACCOUNTANTS: Calculo Consultancy 3rd Floor, Office 5 London SW1X 7LY Trustees" report for the year ended 31" July 21)22 The trustees present their annual report and finanoal statements for the year ended 311t July 2022 The trustees have adopted the provisions ofthe Statement Prathce Accountsng and Reporbng by Charrties Issued In March 2005 In preparing the annual reF()rt and financial statement of the charity The objects of the charity are: 1. To advance the Christsan faith for the public benefit In such ways and In such parts of the United Kingdom as the trustees from tsme to time may think fit. 2 To relieve sickness and finanaal hardship and to promote and preserve good health ty the provision of funds, goods Of services of any knnd. Including through the provision of counselling and SUPFK)rt In such parts of the United Kingdom as the trustees from time to tsme think fit, and 3, To ao*ance educatson for the put4ic benefit In such ways and in such parts of the United bfjngdom as the trustees from me to time may think fit The trustees meet regularly to manage the charity affairs. The chanty has many volunteers dunng the year, Transactions and financial posltlon The statement of financial acbvrties shows a net profit of £0. Fixed Assets There were no fixed assets in the year ended 31st July 2022 Fund available The present level of funding is adequate to support the conb'nuats"on of the charty principal acbvitses now In operatson for the medum term. and the trustees consider the financial positson of the charity to be satisfactory. Rlsk Management The trustees acbvely review the major risks which the chanty faces on a regular basis and believe that maintaining reserves at current levels, combined bmth an annual review of the controls over key financial systems, bMII provide sufficient resources In the event of a(fverse conthtions. The trustees have also examined other operational and business risks faced bg the chanty and confirm that they have established systems to mibgate the significant nsks Trustees" report for the year ended 31" July 21122 Charity law requiies the trustees to prepare the financial statements for each finanoal year wrth give a true and fair view of the state of aff airs of the charity at the year end and its Incoming resources and resources expended during that yeaf In preparing those financial statements. the truslees are required to Select sustabte accounting poliaes and then apply them consislently, Make Judgements and estrmates that are reasonable and prudent. State whether apF4icable accountrng standards and ststements of iecommended prath.ce have been followed 8ubJect to any departures disclosed and explained In the financial statements, and Prepare the financial statements on the going concern basis unless rt Is appropriate to presume that the chanty wll contsnue In bu&ness. The trustees are responsible for keeping proper accountng records which disdose wth reasonatle accura￿ at any tsme the finantsal position of the charity and enable them to ensure that the financaal statements comply ￿￿th the Charrties Act 2006 They are also responsible for safeguarding the assets of the charity and hence tskjng reasonable steFS for the p(eventson and detethon of fraud and other Irregulaiitses. Independent Examinatson A resolutson proFY)sing that Vedant Patel be reappointed as Independent examiner ￿11 be put to the Annual General Meeting This reKx)rt vrds approved by the trustees cn 26103r2024 and signed on its tehalf by Marta Ghezzi Truslee 26103r2024 ar Ghezzi Trustee 26103r2024 Bruno Santos Trustee 2610W2024 Inder￿d￿nI Exwn4ner'$ Repoit To Ihè Irusiep5 As%embty of GL¥IS¢wJ•e$ 0113otyJ M¥b•Siii•S I r•pJrt ￿ the thwch lor the y••r•ndDd 31¥ 20225￿ on th• ••￿*￿ b •parea vai•d on th• PYI(w •htr*M In p•pg R••p¢cl¥• I1￿70• *ectyon 431210lth• Ch•T*K•thl 18aJ leh3 ALI) •r(* 11 4317MO> ol the 1V43 A¢t *• ¥•￿•1 p•rtUoai M¥• corn•lo my •ll•nbJn e••• ol •i•nw• [• F•fy w•• tyji m •¢Cty¢*K• ih• w•n ty l*• CnaiTr CMv4•w• A c4• i•¢orth 11 irth¥¢4 fj ¢t•mi ty In tr• K¢o'.fjts apo i+•¢iry Th• do not ty dè •1 th• •VFdm thal t•i•qund •udrt •r4 wrt•qrf4••y •# W. pr￿ w •￿1 +¥*nM l* ¥•n ty th• •ec¢wla rn•l•fi•l •c¢ouniNg l•tora• b••n *•0 ffj •￿(l￿n¢* I•￿On 41 01 th• 199) A¢1 w Y¢•E :" •¢ixxirt• a¢¢tyd thNa ieetyth. ty wnFly a￿ur￿j￿ oi 159) *'. mthr ¢tyri• to rny •l1Mlif￿ tmlh my thth Opmifm b• ¢r•fvfi to •ts• • Norw und•rnl•tr¥ d lh• •ttwnl• * t• Vwonffl• CPAA 2S03Q024 6senbly 01 aod S¢ya• w5 Of Good News Mlnths ststanwnt rf FlnwKlal ktivltl•s for lh• paf •nd•d 31K)7rn)22 Uiw•strkt•d es Funds Inc￿n9 rns(•urc•s Inc(¥nng rnsourc•s Ircm g*nor4l•d lunds Vo:'LmlJJry IrKL¥ne L-lTh',IK% loi ￿1KmaIlI)s] lun slmert i￿￿)e In¢￿Ing r•s￿rc•S frtxnchailtable thftb•5 r kneonlng r•%￿[¢•5 Total Incomlng roSou￿ •3 R•sources èxpo ndéd C Gaifts k)sses on iev&4JaL.￿ d fN(JJ asS£ts foi ts cforty's (￿fi Tcrtal furxls Ixought Iofvard TO￿ fuTrJs ¢￿i•d A¥wfflbly 01 Ood Sow•rn 01 Oood N•ws Mlnlstrl•• Ball￿e Sheèt ￿ al 3110712022 Unre•trlcted lunds )tes 20t2 2021 Fixed a•sel• Tanglble assets Total flx•d •ss•ts Current assets DeblDf3 Cash al bank and In hand rotal CUTr￿1 •ss•eg Creditors: amounts falling due V•ithin one ￿ar 10 Noe ¢UITWlt •ss•esl(Il•bllftl•s) Total Ms•ts I•￿ curmt Il•blllU•g Creditors." amounts falling due after one year 11 Fund¥ of the Charity Unrestrl'cted funds 12 Restricted Income lunds Endov4nent lundg Tot•1 funds For ttx year 3110712022 tho compary wa3 to ex•mk*K)n uThJor ucts)n 477 of tr kt 2C￿ r•latir¥J to small com FOrn0S. m•mber3 trovo req￿red com￿nY to ot*ain an a￿￿rt cf ts KCOLwts lof lh• y•ar In acccrdarK• wrth soctbn 475 01 Compankis kt X Th• dro¢tOfS a¢kr¥)wlodg• th•ir r•sp)nsilxlty for compty4ng wth r•quir•m•rts of th• kt wth r•spoct to •ccourthg rocords Arkl for th• ple￿rn￿)n al ac¢¢urts. Spngd try on• N tAo Intst¢es on betHY of all tr￿lo•S 8fUrn - 2&(IY2024 14 ASSEMBLY OF GOD SOWERS OF GOOD NEWS MINISTRIES NOTES TO ThE ACCOUNTS FOR THE YEAR ENDED 31" July 21122 1. Accounting Conventlon The fi nancial statements are prepared under the historical cost convention and foll(wrf the recommendations In ' Accounting and Report]ng by Charitses. Statement of Recommended Prathce. 18sued In March 2005 (SORP 2005) and the Chaiitses Act 2006. The charity has taken advantage of the exempbon in FRS01 from the requiremerrt to produce a ￿sh ststement because It Is a small chanty 2. Accounting policies Recognition of incoming resources These are Included In the Statement of Financial Athvities (Sofa) vthen. The chanty becomes entstfed to the resources, The trustees are virtually certain they will receive the Tesources, and The monetary value can be measured wth sufficient relialxlity Incoming resources with related expenditure Where Incoming resources have related expenditure (as wth fundraising or contract income) the Incorni ng resources and related expenditure are ieported gross in the Sofa. Grants and donations Grants and donations are only Included in the Sofa when the charity has unconditsonal enbtlement to the resources Tax reclaims on donations and grfts Incoming resources from tsx reclaims are included in the Sofa at the same time as the gift to which they relate. Gifts In klnd Gifts In kind are accounted for at a reasonable estimate of their value to the chanty or the amount actually realised. Gifts In kind for Sale or distn. bution are ind uded In the accounts as gfts only when sold 01 di8tnLKrted ty the chanty Gifts in kind for use ty the charity are included in the Sofa as incoming resoUrC￿a when receivat4e. Investment income This Is Included In the accounts when receivable. Llablllty recognition abilities are recognised as soon as there is a legal or construthve obligaton commithng the charity to pay out resources. Governance costs Costs of the preparabon and examination of 8tatutory accounts, the costs of trustee meebng8 and cost of any legal advice to trustees on goveinance or consbtutsonal matters. ASSEMBLY OF GOD SOWERS OF GOOD NEWS MINISTRIES NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31" July 21122 Grants wlth performance conditions 14Nhere the chaiity gives a giant wth condtsons for its payment being a srecific level of service or output to be provided, such grants are only recognised In the Sola once the ieopient ol the grant has provided the specified service or output. Grants payable wlthout performance conditlons These are only recognised In the accounts when a commitment has teen made and there are no condibons to be met relatsng to the grant which remain In the contsol of the charity Support Costs SupF)Ort costs Include central funcbons and have been allocated to adjvity cost categories on a basis consistent wth the use of resou[￿s, eg allocatsng property costs by floor areas, or per capita. staff costs ty the bme spent and other costs by their usage. Investments Investments quoted on a recognised stock exchange are valued at market value at the year end (￿her Investrnent assets are Included at trustees. best esbmate of market value. 3. Analysls of Incomlng resources There were no Incoming resources in the year ended 31 * July 2022 2022 aly5i$ Voluntary Incon Chwch Dorwbore• Total Investrrnnt inconyk Bank Irrtor•st Total 10 ASSEMBLY OF GOD SOWERS OF GOOD NEWS MINISTRIES NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31•1 July 21122 9. Debtors There were no debtors In the year ended 31•t Juty 2022 10-11. Creditors Thefe were no cieditors In the year ended 31 •1 July 2022 12. Movement of funds There were no movement of fundos In the year ended 31st July 2022 13. Employees There %vere no emF4oyees In the year ended 311tJuly 2022 14. Trustees Expenses There weie no trustees, expenses In the year ended 3111 July 2022 15. Fees for examination or audlt the accounts There were no fees for examinatson or audit the accounts In the year ended 31* July 2022 16. Grantlng There no granting In the year ended 31•1 July 2022 Dear Slrs, We conflrm the followlng informatlon In connectlon wlth tho Ilnanclal statoments foi the year 31" July 2()22 Is, to be best of our knowledge and bellel, true and lalr, boarlng In mlnd Ihe requlrernents of the Charltles Act 1993. General To the best our ackn￿edge and bolied all tran8athons undertakon havo been prowrly recorded In the accountsng recorits and these finanual statements and all rel@vant recofds have been gven to you 2. Accounting Pollcles The Accountings policies used and detailed In Ihe financial stalements and are consistent vrth those adopted In the F¥evious finanaal statements Statement of Flnanclal Actlvltles - Except as dlsclosed In the flnanclal ststements. the resu Its for the year wefe not materlally affected by: transactsons of a sort not usually undertaken try the charity circumstances of an excepbonal or non-recurrent nature charges or credits relabng to pnor periods or Any change In the basis of accounbng Any exrenditure Included In the financial statements (where receipts or vouchers were not available) was properly made In connectson wth the carrying on of the chaiity's business. unless specifically notified to you as ￿Ing of a Pfivate nature 4. Flxed Assets (£0) There were no fixed as8ets In the year ended 31* July 2022 5. Debtor s (£O.IJ)) There wEre no debtor8 In the year ended 3111 July 2022 6. Other Current Assets (£0) There were no other Current assets In the year ended 31•t July 2022 7. Llabllltles (£0) There were no lia￿litse8 In the year ended 31* July 2022 8. Capltal Cornmltments There were no caFxtal commrtments In the year ended 3111 July 2022 9. Contlngent Llabhlltles There were no contingent Iiabilrtie8 In the year ended 314 July 2022. 10. Post Balance Sheet events No events have occurred betr￿een 3111 July 2022and the date ol this letter which could matenally affect the financial statements. 11. Tiansactlons wlth Trustees There were no Iiansacbons ￿th tiustee8 in the year ended 3111 July 2022 12. Other Related Party Transactlons There were no othei r61ated party Ila nsactson8 In the year ended 31 JI July 2022 13. Golng concern There 16 no going concern after year ended 31•1 July 2022. 12 14. Law and Regulations We confirm that the company has comFAied vdth all law and regulabons relevant of the adJvitie8 of the charity during the year ended under external examination and that we have made availat4e all such relevant Information necessary for external examinatson purF()ses Yours faithfully Marta Rocha Trustee 26103r2024 13