Charity Number 1186268
KINGDOM EMPOWERMENT MINISTRIES INTERNATIONAL FELLOWSHIP (KEMIF)
TRUSTEES’ REPORT AND ACCOUNTS
31 JULY 2024
KINGDOM EMPOWERMENT MINISTRIES INTERNATIONAL FELLOWSHIP (KEMIF)
Financial statement
For the year ended 31 July 2024
Contents
| Page | |
|---|---|
| Reference and administrative details | 3 |
| Report of the trustees | 4 |
| Independent examiners’ report | 6 |
| Income statement | 8 |
| Statement of financial position | 9 |
| Notes to the accounts | 10 |
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KINGDOM EMPOWERMENT MINISTRIES INTERNATIONAL FELLOWSHIP (KEMIF)
Reference and administrative details For the year ended 31 July 2024
| Charity Number | 1186268 |
|---|---|
| Registered Address | Room G09 |
| Ram Mill Business Center | |
| Gordon Street | |
| Chadderton | |
| Oldham | |
| Ol9 9rh | |
| Trustees | Trustees who served during the year were as follows: |
| Rev Dr Elizabeth Ibidapo_– Chair of Trustees_ | |
| Harry Adeniyi Ibidapo | |
| Calvin Kudzai Mutunzi | |
| Timothy Gabriel Phioenix | |
| 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 |
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KINGDOM EMPOWERMENT MINISTRIES INTERNATIONAL FELLOWSHIP (KEMIF)
Report of the trustees For the year ended 31 July 2024
The Trustees, present their annual report with the audited financial statements of the charity for the year ended 31 July 2024. 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:
-
Rev Dr Elizabeth Ibidapo – Chair of Trustees
-
Harry Adeniyi Ibidapo
-
Calvin Kudzai Mutunzi
-
Timothy Gabriel Phioenix
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:
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KINGDOM EMPOWERMENT MINISTRIES INTERNATIONAL FELLOWSHIP (KEMIF)
Report of the trustees For the year ended 31 July 2024
-
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;
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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
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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.
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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 27[th] November 2024 and signed on their behalf by
Rev Dr Elizabeth Ibidapo Chair of Trustees
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KINGDOM EMPOWERMENT MINISTRIES INTERNATIONAL FELLOWSHIP (KEMIF)
Independent examiners’ report For the year ended 31 July 2024
I report on the accounts of Kingdom Empowerment Ministries International Fellowship (KEMIF), for the year ended 31 July 2024, which are set out on pages 8 to 16.
Respective responsibilities of trustees and independent examiner
The trustees are responsible for the preparation of the accounts, and they consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act). Having satisfied myself that the charity is not subject to audit under Charities Act 2011 (the 2011 Act) and is eligible for independent examination, it is my responsibility to:
-
examine the accounts under section 145 of the 2011 Act;
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to follow the procedures laid down in the general directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
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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 Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes considering any unusual items or disclosures in the accounts and seeking explanations from the trustees concerning such matters.
The procedures undertaken do not provide all the evidence that would be required in an audit and, consequently, I do not express an audit opinion on the accounts.
Independent examiner’s statement
In connection with my examination, no matter has come to my attention:
-
Which gives me reasonable cause to believe that, in any material respect, the requirements:
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To keep accounting records in accordance with section 130 of the Act; and
-
To prepare accounts which accord with the accounting records and comply with the accounting requirements of the Act
have not been met; or
- To which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
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KINGDOM EMPOWERMENT MINISTRIES INTERNATIONAL FELLOWSHIP (KEMIF)
Independent examiners’ report For the year ended 31 July 2024
Bernard Nwaiwu, FCA (ICAN)
______ BC NWAIWU & CO LTD Building 1 Suit 4A Office 6 Wilsons Park Business Centre Manchester M40 8WN
Date: 27 November 2024
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KINGDOM EMPOWERMENT MINISTRIES INTERNATIONAL FELLOWSHIP (KEMIF)
Income Statement For the year ended 31 July 2024
| 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 2024 £ 65,261 11,000 76,261 (77,082) - (77,082) (821) (688) (1,509) |
31 July 2023 £ |
|---|---|---|
| 8,793 2,000 |
||
| 10,793 | ||
| (10,340) - |
||
| (10,340) | ||
| 452 (1,140) |
||
| (688) |
The notes on pages 10 to 16 form part of these financial statements
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KINGDOM EMPOWERMENT MINISTRIES INTERNATIONAL FELLOWSHIP (KEMIF)
Balance Sheet As at 31 July 2024
| 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 |
2024 £ 369 - 369 (500) |
2024 £ 438 438 (131) 307 - 307 (1,817) 2,124 307 |
2023 £ 794 - 794 (250) |
2023 £ 584 |
|---|---|---|---|---|
| 584 544 |
||||
| 1,128 - |
||||
| 1,128 | ||||
| 242 886 |
||||
| 1,128 |
Approved by the trustees on 27 November 2024, and signed on their behalf by:
Rev Dr Elizabeth Ibidapo Chair of Trustees
The notes on pages 10 to 16 form part of these financial statements
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KINGDOM EMPOWERMENT MINISTRIES INTERNATIONAL FELLOWSHIP (KEMIF)
Notes to the financial statements For the year ended 31 July 2024
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 2025.
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
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KINGDOM EMPOWERMENT MINISTRIES INTERNATIONAL FELLOWSHIP (KEMIF)
Notes to the financial statements For the year ended 31 July 2024
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 recognised 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
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KINGDOM EMPOWERMENT MINISTRIES INTERNATIONAL FELLOWSHIP (KEMIF)
Notes to the financial statements For the year ended 31 July 2024
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.
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KINGDOM EMPOWERMENT MINISTRIES INTERNATIONAL FELLOWSHIP (KEMIF)
Notes to the financial statements
For the year ended 31 July 2024
| 2. Donations and legacies Tithe offering Regular offering Donations Building fund Other income 3. Charity activities 3a. Grant The Ubele Initiative National Lottery Fund 3b. Other charity activities Charitable sales Bank interest 4. Operation of the charity Staff cost The V.O.W Holds Rent and venue hire Training and development KWOW Depreciation KemifSom Honorarium General office expenses Advert and promotion Governance cost Professional Fees |
31 July 2024 £ 3,398 22,268 13,772 2,950 22,873 65,261 31 July 2024 £ - 11,000 11,000 £ - - - 11,000 31 July 2024 £ 62,951 2,482 4,660 2,930 1,210 146 1,099 200 133 651 120 500 77,082 |
31 July 2023 £ |
|---|---|---|
| 2,545 3,293 2,955 - - |
||
| 8,793 | ||
| 31 July 2023 £ |
||
| 2,000 - |
||
| 2,000 | ||
| £ | ||
| - - |
||
| - | ||
| 2,000 | ||
| 31 July 2023 £ |
||
| - 3,934 1,760 650 735 195 950 40 1,230 597 - 250 |
||
| 10,340 |
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KINGDOM EMPOWERMENT MINISTRIES INTERNATIONAL FELLOWSHIP (KEMIF)
Notes to the financial statements
For the year ended 31 July 2024
| 5. Other charitable activities Kemif Foundation 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 2024 £ - - 31 July 2024 £ 584 - - - - 584 146 - 146 438 31 July 2024 £ 369 - 369 31 July 2024 £ 500 500 |
31 July 2023 £ |
|---|---|---|
| - | ||
| - | ||
| 31 July 2023 £ |
||
| 779 - - - - |
||
| 779 | ||
| 195 - |
||
| 195 | ||
| 584 | ||
| 31 July 2023 £ |
||
| 794 - |
||
| 794 | ||
| 31 July 2023 £ |
||
| 250 | ||
| 250 |
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KINGDOM EMPOWERMENT MINISTRIES INTERNATIONAL FELLOWSHIP (KEMIF)
Notes to the financial statements For the year ended 31 July 2024
| 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 |
31 July 2024 £ - - 31 July 2024 £ - - - - - - - - |
31 July 2023 £ |
|---|---|---|
| - | ||
| - | ||
| 31 July 2023 £ |
||
| - | ||
| - | ||
| - - - |
||
| - | ||
| - | ||
| - |
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KINGDOM EMPOWERMENT MINISTRIES INTERNATIONAL FELLOWSHIP (KEMIF)
Notes to the financial statements For the year ended 31 July 2024
| 11. Fund movements Restricted funds Restricted project fund Building fund Unrestricted funds General fund The funds of the charity |
Balance at 1 August 2023 £ 886 - 886 242 242 1,128 |
Income £ 25,267 2,950 28,217 48,045 48,045 76,261 |
Expenditure £ (26,979) - (26,979) (50,103) (50,103) (77,082) |
As at 31 July 2024 £ (826) 2,950 |
|---|---|---|---|---|
| 2,124 (1,817) |
||||
| (1,817) | ||||
| 307 |
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