Charity Number 1186268
# **KINGDOM EMPOWERMENT MINISTRIES INTERNATIONAL FELLOWSHIP (KEMIF)**
## **TRUSTEES’ REPORT AND ACCOUNTS**
**31 JULY 2023**
**KINGDOM EMPOWERMENT MINISTRIES INTERNATIONAL FELLOWSHIP (KEMIF)**
## **Financial statement**
## **For the year ended 31 July 2023**
## **Contents**
||Page|
|---|---|
|Reference and administrative details|3|
|Report of the trustees|4|
|Independent examiners’ report|6|
|Income statement|7|
|Statement of financial position|8|
|Notes to the accounts|9|
2
## **KINGDOM EMPOWERMENT MINISTRIES INTERNATIONAL FELLOWSHIP (KEMIF)**
## **Reference and administrative details For the year ended 31 July 2023**
|Charity Number|1186268|
|---|---|
|Registered Address|4 Fossage Close, Manchester M9 7GE|
|Trustees|Trustees who served during the year were as follows:|
||Rev Dr Elizabeth Ibidapo_– Chair of Trustees_|
||Timothy Gabriel Phioenix|
||Calvin Kudzai Mutunzi|
||Harry Adeniyi Ibidapo|
|Independent Examiner|BC NWAIWU & CO LTD|
||Building 1 Suit 4A Office 6|
||Wilsons Park Business Centre|
||Manchester|
||M40 8WN|
|Bankers|Lloyds Bank plc|
||25 Gresham Street|
||London|
||EC2V 7HN|
3
## **KINGDOM EMPOWERMENT MINISTRIES INTERNATIONAL FELLOWSHIP (KEMIF)**
## **Report of the trustees For the year ended 31 July 2023**
The Trustees, present their annual report with the audited financial statements of the charity for the year ended 31 July 2023. The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities" in preparing the annual report and financial statements of the charity.
The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the Charity's governing document, the Charities Act 2022 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (January 2022).
## **About us**
Kingdom Empowerment Ministries International Fellowship (KEMIF) is a faith-based charity that advances the Christian religion mainly, but not exclusively, by means of broadcasting Christian messages of an evangelistic and teaching nature for the benefit of the public through the holding of prayer meetings, lectures, public celebration of religious festivals, producing and/or distributing literature on Christian religion to enlighten others about the Christian religion.
We advance in life and relieve needs of young people by providing support and activities which develop their skills, capacities and capabilities to enable them to participate in society as mature and responsible individuals,
We also promote social inclusion for the public benefit by working with people who are socially excluded, to relieve the needs of such people and assist them to integrate into society, through the provision of a local network group that encourages and enables those who are socially excluded to participate more effectively within the wider community and by increasing, or coordinating, opportunities to engage with service providers, to enable those providers to adapt services to better meet the needs of that community.
## **Trustees**
The following person served as trustees during the period:
1. Rev Dr Elizabeth Ibidapo _– Chair of Trustees_
2. Timothy Gabriel Phioenix
3. Calvin Kudzai Mutunzi
4. Harry Adeniyi Ibidapo
## **Statement of responsibilities of the trustees**
The trustees are required to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charity and the incoming resources and application of resources, including the net income or expenditure, of the charity for the year. In preparing those financial statements the trustees are required to:
4
## **KINGDOM EMPOWERMENT MINISTRIES INTERNATIONAL FELLOWSHIP (KEMIF)**
## **Report of the trustees For the year ended 31 July 2023**
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping proper accounting records that 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 Statement of Recommended Practice applicable to charities in the UK and Republic of Ireland (FRS102) (January 2022) - (Charities SORP (FRS102). They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Each of the persons who is a trustee at the date of approval of this report confirms that:
- so far as each of the trustee is aware, there is no relevant material information of which the charity’s accountants are unaware; and
- each trustee has taken all steps that they ought to have taken to make themselves aware of any relevant material information and to establish that the accountants are aware of that information.
- Members of the charity guarantee to contribute an amount not exceeding £1 to the assets of the charity in the event of winding up.
Approved by the trustees on 15 September 2023 and signed on their behalf by
**Rev Dr Elizabeth Ibidapo** _Chair of Trustees_
5
## **KINGDOM EMPOWERMENT MINISTRIES INTERNATIONAL FELLOWSHIP (KEMIF)**
## **Accountants' Report**
## **Accountants' report to the board of trustees on the preparation of the unaudited statutory accounts of Kingdom Empowerment Ministries International Fellowship (KEMIF) for the period ended 31 July 2023.**
In order to assist you to fulfil your duties under the Charity Act 2022, we have prepared for your approval the accounts of Kingdom Empowerment Ministries International Fellowship (KEMIF) for the period ended 31[st] July 2023 which comprise of the Statement of financial activities (incorporating income & expenditure account), the Balance Sheet and the related notes from the charity’s accounting records and from information and explanations you have given us.
This report is made solely to the Trustees of Kingdom Empowerment Ministries International Fellowship (KEMIF), as a body, in accordance with the terms of our engagement dated 1[st] September 2023. Our work has been undertaken solely to prepare for your approval the accounts of Kingdom Empowerment Ministries International Fellowship (KEMIF) and state those matters that we have agreed to state to the Trustees of Kingdom Empowerment Ministries International Fellowship (KEMIF) , as a body, in this report to the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Kingdom Empowerment Ministries International Fellowship (KEMIF) and its Trustees as a body for our work or for this report.
It is your duty to ensure that Kingdom Empowerment Ministries International Fellowship (KEMIF) has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position of Kingdom Empowerment Ministries International Fellowship (KEMIF). You consider that Kingdom Empowerment Ministries International Fellowship (KEMIF) is exempt from the statutory audit/independent examination requirement for the period.
We have not been instructed to carry out an audit/independent examination or a review of the accounts of Kingdom Empowerment Ministries International Fellowship (KEMIF). For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us, and we do not, therefore, express any opinion on the statutory accounts.
BC NWAIWU & CO LTD
BC NWAIWU & CO LTD
Building 1 Suit 4A Office 6 Wilsons Park Business Centre Manchester M40 8WN
Date: 15 September 2023
6
**KINGDOM EMPOWERMENT MINISTRIES INTERNATIONAL FELLOWSHIP (KEMIF)**
## **Income Statement For the year ended 31 July 2023**
|Note
**Income:**
Income from charitable activities:
_Operation of the charity_
2
Income from other activities:
_Other charity activities_
3
**Total income**
**Expenditure:**
_Expenditure on charitable activities:_
Expenses on operation of the charity
4
_Costs of raising funds:_
Other charitable activities
5
**Total expenditure**
**Net income/(expenditure) and net**
**movement in funds for the year**
**Reconciliation of funds**
Total funds brought forward
**Total funds carried forward**|31 July 2023
£
8,793
2,000
10,793
(10,340)
-
(10,340)
452
(1,140)
(688)|31 July 2022
£|
|---|---|---|
|||6,971
2,000|
|||8,971|
|||(12,890)
-|
|||(12,890)|
|||(3,919)
2,779|
|||(1,140)|
_The notes on pages 9 to 14 form part of these financial statements_
7
## **KINGDOM EMPOWERMENT MINISTRIES INTERNATIONAL FELLOWSHIP (KEMIF) Balance Sheet As at 31 July 2023**
|**Note**
**Fixed assets**
Tangible assets
6
**Current assets**
Cash at bank and in hand
7
Debtors
**Creditors: amounts falling due**
**within one year**
8
**Net current assets**
**Total assets less current liabilities**
**Creditors: amounts falling due after one year**
**Total assets**
**Funds**
Unrestricted funds
Restricted funds
**Total funds**|**2023**
£
794
-
794
(250)|**2023**
£
584
584
544
1,128
-
1,128
242
886
1,128|**2022**
£
497
-
497
(300)|**2022**
£
779|
|---|---|---|---|---|
|||||779
197|
|||||976
300|
|||||676|
|||||487
188|
|||||676|
Approved by the trustees on 15 September 2023, and signed on their behalf by:
## **Rev Dr Elizabeth Ibidapo**
_Chair of Trustees_
_The notes on pages 9 to 14 form part of these financial statements_
8
**KINGDOM EMPOWERMENT MINISTRIES INTERNATIONAL FELLOWSHIP (KEMIF)**
## **Notes to the financial statements For the year ended 31 July 2023**
## **1. Accounting policies**
The principal accounting policies adopted, judgments and key sources of estimation uncertainty in the preparation of the financial statements are as follows:
## **a. 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 in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (January 2022) - (Charities SORP (FRS 102)).
Kingdom Empowerment Ministries International Fellowship (KEMIF) meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
## **b. Judgments and estimates**
The trustees have made no key judgments which have a significant effect on the accounts. The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the next reporting period.
## **c. Going concern**
The trustees have reviewed the charity's forecasts and projections and are confident that the charity can also fulfil its commitments to its beneficiaries for the period ending 31 July 2024.
## **d. Fund accounting**
Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are grants and donations which the donor has specified are to be solely used for particular areas of the charity's work or for specific projects being undertaken by the charity.
## **e. Income**
The Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received, and the amount can be measured reliably.
Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions
9
## **KINGDOM EMPOWERMENT MINISTRIES INTERNATIONAL FELLOWSHIP (KEMIF) Notes to the financial statements For the year ended 31 July 2023**
attached to the grants have been met, it is probable that the income will be received, and the amount can be measured reliably and is not deferred.
Income received in advance of a provision of a specified service is deferred until the criteria for income recognition are met.
## **f. Donated services and facilities**
Donated professional services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item, is probable and the economic benefit can be measured reliably. In accordance with the Charities SORP(FRS102), general volunteer time is not recognised.
On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.
## **g. Interest receivable**
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.
## **h. Expenditure**
Expenditure is recognized once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:
- Expenditure on charitable activities includes all costs undertaken to further the purposes of the charity and their associated support costs.
- Finance costs includes all interest and other costs the charity incurs in connection with the borrowing of funds.
## **i. Tangible fixed assets**
All expenditure of a capital nature on development work overseas is expensed as incurred, while tangible fixed assets in the UK costing more than £100 are capitalized and included at cost, including any incidental expenses of acquisition. Depreciation is provided on
10
## **KINGDOM EMPOWERMENT MINISTRIES INTERNATIONAL FELLOWSHIP (KEMIF) Notes to the financial statements For the year ended 31 July 2023**
tangible fixed assets at rates calculated to write off the cost by equal annual instalments over their expected useful economic lives as follows:
|Freehold land and buildings|Nil|
|---|---|
|Computer infrastructure|5 years|
|Computer equipment|4 years|
|Furniture, fixtures and equipment|4 years|
Impairment reviews are conducted when events and changes in circumstances indicate that an impairment may have occurred. If any asset is found to have a carrying value materially higher than its recoverable amount, it is written down accordingly.
## **j. 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 discounts due.
## **k. Cash at bank and in hand**
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## **l. Creditors and provisions**
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 discounts due.
## **m. Gift aid**
Gift Aid tax reclaims is recognised for any Gift Aid certificates received up to two months after the year-end, in relation to donations made prior to the year-end, where the Gift Aid tax reclaim application was filled to HMRC prior to the year-end.
11
## **KINGDOM EMPOWERMENT MINISTRIES INTERNATIONAL FELLOWSHIP (KEMIF)**
## **Notes to the financial statements For the year ended 31 July 2023**
|2.
**Operation of the charity**
Tithe offering
Regular offering
Donations
3.
**Other charity activities**
Charitable sales
Bank interest
Other income
4.
**Operation of the charity**
Kemif community Care
Rent and venue hire
Training and development
KWOW
Depreciation
Kemif-love in action
Honorarium
General office expenses
Advert and promotion
Governance cost
Professional Fees
5.
**Other charitable activities**
Kemif Foundation|31 July 2023
£
2,545
3,293
2,955
8,793
31 July 2023
**£**
-
-
2,000
2,000
31 July 2023
£
3,934
1,760
650
735
195
950
40
1,230
597
-
250
10,340
31 July 2023
£
-
-|31 July 2022
£|
|---|---|---|
|||4,411
1,483
1,078|
|||
6,971|
|||31 July 2022
**£**|
|||-
-
2,000|
|||
2,000|
|||31 July 2022
£|
|||1,400
1,170
-
1,773
260
3,150
-
4,452
385
-
300|
|||12,890|
|||31 July 2022
£|
|||-|
|||-|
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## **KINGDOM EMPOWERMENT MINISTRIES INTERNATIONAL FELLOWSHIP (KEMIF)**
## **Notes to the financial statements For the year ended 31 July 2023**
|6.
**Tangible fixed assets**
Cost
Balance B/F
Additions
Disposals
Revaluations
Transfers
Depreciation
Charge for the year
On disposals
Net book value
7.
**Cash at bank and in hand**
Bank
Cash
8.
**Creditors**
Trade creditors
**Total creditors**|31 July 2023
£
779
-
-
-
-
779
195
-
195
584
31 July 2023
£
794
-
794
31 July 2023
£
250
250|31 July 2022
£|
|---|---|---|
|||1,039
-
-
-
-|
|||1,039|
|||260
-|
|||260|
|||779|
|||31 July 2022
£|
|||497
-|
|||497|
|||31 July 2022
£|
|||300|
|||300|
13
**KINGDOM EMPOWERMENT MINISTRIES INTERNATIONAL FELLOWSHIP (KEMIF)**
## **Notes to the financial statements For the year ended 31 July 2023**
|9.
**Creditors:**_amounts falling due after one year_
Trade creditors
**Total creditors**
10.
**Debtors**
Grant debtors
Prepaid Rent
Prepaid Insurance
Other prepaid expenses
Other Debtors
**Total debtors**
11.**Fund movements**
Balance at 1
August 2022
£
**Restricted funds**
Restricted project fund
188
188
**Unrestricted funds**
General fund
487
487
**The funds of the charity**
676||31 July 2023
31 July 2022
£
£
-
300
-
300
31 July 2023
31 July 2022
£
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
**-**
**-**
Income
Expenditure
As at 31
July 2023
£
£
£
4,317
(3,619)
886
4,317
(3,619)
886
6,476
(6,721)
242
6,476
(6,721)
242
10,793
(10,340)
1,128|31 July 2023
31 July 2022
£
£
-
300
-
300
31 July 2023
31 July 2022
£
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
**-**
**-**
Income
Expenditure
As at 31
July 2023
£
£
£
4,317
(3,619)
886
4,317
(3,619)
886
6,476
(6,721)
242
6,476
(6,721)
242
10,793
(10,340)
1,128|
|---|---|---|---|
|||-||
|||-||
|||-
-
-||
|||-||
|||-||
|||**-**||
|||Income
£
4,317
4,317
6,476
6,476
10,793||
||||886
242|
||||242|
||||1,128|
14