2020-11-30-accounts

BIBLE IIFE FArrH MISSION INTERNATIONAL WHERE ARE YOU GOING MINisfRY Chaiity No. 1187349 TnistÈes' Rèport and Unaudlted Accounts 30 November 2020

BIBLE LIFE FAITH MIS510N IIITERNATIONAL WHERE ARE YOU 601NG MINISTrY Contents Pages Ito4 Tnjstees, Annual Report Independent Examiner's Report Statement of Financial Artivities Summary Income and Expenditure Account Balance Sheet Ststement of Cash flows Note5 to the Accounts IOto13 Detailed Statement of Financial Activ¢ties 14to16 Page I

BIBLE UFE FAITH MISSION INTERNATIONAL WHERE ARE YOU GOING MINISTRY Trustees Annual Report The Trustees present their report with the unaudited financial statement5 of the charity for the vear ended 30 November 2020. REFERENCE AND ADMINISTRATIVE DETAILS Charity No. 1187349 Prfnclpal Office 41 BROUGHTON STREFr MANCHESTER M8 8AN Reglstsred Offl 418roughton Street Manchester M88AN Trustees The followingTrustees setved during the year= B. ATILOLA T. BABALOLA E. OYEIAMI F.J. OYELAMI Key Mana8ement Personnel Chair Bukola Atllola Trustèe Temitope Babalola Trustee Faith Jesukanyln Oyelaml Trustee Emmanuel Oyelami Accountants Fredri¢k5 Accountants & Co Sulte 204 133 Creek Road Greenwich London SE8 36U Bankers Barclay Bank PIC 41 Broughton Street Chitham Hill Road, Manchester M8 8AN Page 2

BIBLE LIFE FAITH MISSION INTERNATIONAL WHERE ARE YOU GOING MINISTrY TrustÈe5 Annual Report ObSertÉvÈ and Artivitie5 The Charity is constituted under Trust Deed dated 14th Janyary 2020,and Charity number 1187349 on the ntral registered of the Charity Commission of England and Wales. The principal objective5 of the Charity a￿ advancement of the Christian faith worldwide and relief of poverty. Re¢rultment and Appolnknent of New Trustees Trustees and Member of Committees are appointed by the Church Ministerial Board using the essential skill and assessment method. Priority 15 given to criteria required to have an effertive and efficient Board and Committees. To thi5 end.the Board is carefully grafted with the right mix of skills and experiènce to discharge its dutièg 3nd ensure effective governance and management. The trustees serve a term of two years which is renewable at the dlscretlon of the Board. The management of the charlty Is the responsibility of the Trustees who are appointed and ctropted undèr the terms of the Trust Deed. OrKanlzatlonal Structure and Declslon Makin¥ The church 15 organized so that the trustees meet reeularly to manage its affair5. There are a full-time Minister and Volunteers, who rnanage the day to day administration of the church. Rlsk Management The tlU5tees have assessed the major risks to whtch the Charity is exposed, particularfy those relating to the operations and finan￿ and are satisfied with the risk managèment systems in place to mitigate any exposure. Risk is an everyday part of chadt3ble activity 8nd managing it effectively is essential if the trustees are to achieve their key objecttves and safeguard their charity's funds and assets. Therefore the Charity has developed appropriate Risk Management Framework which consists of the Risk Management P()licy and the Risk Management Procedures outline in the operational guidelines. Achlevements and P•rfomian The trustees a￿ pleased to rèport that the Church continued to be successful splrltually by ministering to many people. The Church has improved in mÈmber5hip strength and is increasingly Teaching out to the community. More focus and greater success were achieved in the area of Evangelism and community outreach. Financlal Revlew The finarlcial statements cover the operatlons of Blble Llfe Faith Mission International. Manchester. For the year ended 30 November 2020, the Statement of Financial Activitiès shows total incoming resources of £13,532. This was spent mainly on charitsble activities and total expendlture amounted to £12,210. We closed the year wTrth net surplus resources of £1,322. This surplus would be carrled forward to the reSe￿e for use in future accounting periods. Policy on reserves The trustees have established a policy whereby the unrestrScted funds not committed or invested in tangible fixed a55etslthe free reserve) held by the church should be 3 months of annual expendlture. At this level,the tru5tee5 feel that they would be able to conttnue the current activities of the church in the event of significant drop in funding. Plans For Future Periods The Church will continue to explore variou5 way5 of spreading the gospel of Chrfst effertlvely. Charity is looking to grow in membership and continue to develop its members to make a life-changing impèrt in society, plant more branches, open Bookshops, community choir and acquire its property. Page 3

BIBLE LIFE FAITH MISSION INTERNATIONAL WHERE ARE YOU GOING MINISTRY Trustees Aftnual Report ststement of Trustees Responslblllty The trustees are responsible for preparing the Tru5tees' rèport and the financial statements in accordance with applicable law and United Kingdom Accounttng Standardslunited Kingdom Generalty Atteptedl.The law applicable to charitie5 in England and wales requires the Trustees to prepare financial statements for each financial year whlch Eive a true and fair view of the state of affair5 of the charity and of the incoming resources and application of resources of the charity for that period. In prepatlng these financial statements, the Trustees are required to: al select suitsble accountin8 policies and then apply them consistently bl observe the methods and principles in the Charities SORP,. cl make judgments and estiffiates that are reasonable and prudent, dl state whether applicabSe UK Accounting Standarijs have been followèd, subject to any matèrial departures explained in the financlal statements,. elprèpare the financial statèments 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 accurary at any time the financlal position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charity and hencè taking reasonable Steps for the prevention and detection of fraud and other irregularities. The above report has been prepared in accordan￿ with the provisions applicable to companies subjett to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordan￿ wlth the Charities SORP IFRS 1021. Slgned on behalf of the boaid B. ATILOLA Trustee 29 November 2021 Page 4

BIBLE LIFE FAITH MISSION INTERNATIONAL WHERE ARE YOU GOING MINISTRY Independent Examiners Report

Independent Examiner's Report to the trustees of BIBLE LIFE FAITH MISSION INTERNATIONAL WHERE ARE YOU GOING MINISTRY

I report to the charity trustees on my examination of the accounts of BIBLE LIFE FAITH MISSION INTERNATIONAL WHERE ARE YOU GOING MINISTRY for the period ended 30 November 2020 which comprise the Statement of Financial Activities, the Summary Income and Expenditure Account, the Balance Sheet, the Statement of Cash Flows and the related notes.

Responsibilities and basis of report

As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act.

Having satisfied myself that the accounts of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that:

• accounting records were not kept in accordance with section 386 of the 2006 Act; or

• the accounts do not accord with those records; or

• the accounts do not comply with the accounting requirements under section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination; or

• the accounts have not been prepared in accordance with the Charities SORP (FRS 102).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Mr Adesina Otufale FCCA

Fredricks Accountants & Co Suite 204 133 Creek Road Greenwich London SE8 3BU 29 November 2021

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BIBLE LIFE FAITh MISSION INfERNAmONAL WHERE ARE YOU GOING MINISTRY Statement of Flnanclal Actlvltle5 forthe period ended 30 November 2020 Unrestrltted fund5 Totsl funds Zozo 2020 Motss Income and endowments from: Donations and le8acres 13,532 13,532 Total 13,532 13,532 Expendlture on: Other 12,210 12,210 Total 12,210 12,210 Net gains on investments Net Income 1,322 1,322 Transfers betsyeen funds Net Income before other 8ainslllossesl 1,322 1,322 Other galns and losse$ Net movement In fvnds 1,322 1,322 Re¢ondllatSon of funds: Total funds ¢arrled forward 1,322 1.322 Page 6

BIBLE LIFE FAITH MISSION INTERNATIONAL WHERE ARE YOU GOING MINISTRY Summary Income and Expendlture Account for the perlod ended 30 November zozo 2020 Income 13,532 13,532 Gross Income lorthe period 13,532 13,532 Expenditure 11.760 11,760 Depreclatlon and charges for impaim)ent of r￿ed assets 450 450 T(*tal expèndlture for the perfod Net income before tax for the period 12,210 12,210 1,322 1,322 Nèt Income for the perlod 1,322 1,322 Page 7

818LE UFE FAMI MIS5K)N INTERNATIONAL WHERE ARE YOU GOING MINisfRY Balan￿ Sheet at 30 November 2020 2020 Axed assets Tangible assets 2.550 Cash at bank and in hand 181 181 Credltors: Amount falling due wlthin one year Net Current Ilabllftles 11,4091 11,228) 1.322 1,322 Total assets less current IlablMtle5 Net assets e￿lUdIng pension asset or Ilability Totsl net assets 1,322 The funds ofthe tharfty Restrlrted funds Unrestrttted funds General funds 1,322 1,322 Reserles Totsl funds 1,322 These accounts have been prepared in accordance wkh the special prowslons of Part 15 ofthe Companles Act 2006 relating to small companies. Forthe period ended 30 November 2020 the company was entmed to exemption under sectlon 477 ofthe Companies Att 2006 rdating to small compantès. The members have not required the eompanyto obtsin an audit in accordance wlth sertlon 476 of the Componies Art2006. The director5 acknowledge their responsibilitÈe5 for complying with the requI￿rnents of the Compafties Act 2006 with respect to accounting records and the preparation of accounts. Approved by the l)oard on 29 November 2021 And signed on its behalf by: FJ. YELAMI Trusree 29 November 2021 Page 8

BIBLE LIFE FAITh MISSION INTERNATIONAL WHERE ARE YOU GOING MINISTRY Notes to tht Accounts for the perlod ended 30 November 2020 l Accountlng policles ￿￿1$ of preparation The financial statements have been prepared in accordance with Accounting and Reportsn8 by Charities: Statement of Recommended Practlce applicable to charities preparin8 their accounts in accordancè with the Flnanclal Reporting Standard applicable ift the UK and Republic of Ireland IFRS 1021 leffective I January 20151 (Charities SORP IFRS 10211, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companie5 Act 2￿6. Change In basls of •¢¢ountin8 or to prevloLFS accounts There has been no change to the accounting policies Ivaluation rules and method of accountSngl slnce last year and no ¢han8es have been made to accounts for previous yèars. Fund accounting Unrestritted funds These are available for use at the discretion of the trusteès in furtherance of the general objects of the charity. These are unrestricted funds earmarked by the trustees fi>r particular purposes. These ère unrestricted funds which include a revaluation reserve representing the reststement of investment assets at their market values. These are available for use subject to restrlctlons imposed by the donor or through terms of an appeal. De￿gnated funds Revaluation funds Restrlcted funds Income Recognitlon of income Income is included in the Statement of Fin3nci31 Activities ISOFAI when the charity becomès entitled to, and virtually certain to re￿¢Ve. the Income and the amount of the income can be meaSU￿d wlth sufficient reliability. Income with related Where income has related expend¢ture the income and related expendtture is expenditrjre reported gross in the SOFA. Donations and leEa¢ies Voluntary Income received by way of grant5. donations and gifts is included in the the SOFA when receivèble and only when the Charity has untonditional entitlement to the income. Tax reclaims on Income from tax reclaim5 15 included in the SOFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income Iwlth an equivalent amount in expenditurèl and facilities where the beneftt to the Charity is ￿aSonablY quantifiable, measurable 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. Gainslllossesl on Thts includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gainslllossesl on investment assets This includes any gain or loss on the sale of investments. Page 9

BIBLE LIFE FAtrH MISSION INTERNATIONAL WHERE ARE YOU GOING MINISTrY Notes to the Att¢unts Expendlture Recognition of expenditure Expendlturè is recognised on an accruals basis. Expenditure includes any VAT which cannot be fully recovered, and Is reported as part of the expenditure to which it relates. Expendlture on These comprlse the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management cost5. Expenditure on These comprise the costs incurred by the Charity in the delivery of its artivities and charitable activities seNices in the furtherance of its objects, including the making of grants and Bovernance costs. All Brant expenditure 15 accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid. These include those costs assoclated wlth meètlng thè constitutlonal and statutory requirements of the Charity, includlng any auditlindependent examination fees, costs Ilnked to the strateglc management of the Charity, tO8ether with a Sha￿ of other administration cost5. Other expendItU￿ These are support costs not allocated to a particular activity. Grants payable Governance costs Taxatio The charity is exempt from corporation tax on its charitable activities. Tangib￿ fixed assets and depreclatlon Depreciation Is provided at the following annual rates in order to write off each asset over its estimated useful life: Plant and m3¢hinery 15%% Reduclng balance Freehold investment woperty Investment properties are measured initially at Cost and subsequently at fair value at each balance sheet datè and are not depreciatèd. All gaSns or losses are taken to the Statement of Finar*cial Activities as they arlse. Stocks Stock is included at the lower of Cost or net fealisable 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 debtor5 Trade and other debtors are recognised at the settlement amount due after any trade discount Dffered. Prepayments are valued at the amount prepald net of any trade discounts due. Cash and cash equivalents Cash and cash equ¢valents comprlse cash at bank and on hand, demand deposits with banks and other short-term highly liquid investment5 Wlth original maturities of three months or less and bank overdrafts. In the staternent of financial posltlon, bank overdrafts are shown within borrowings or current liabilities. In the Ststement of Cash Flows, cash and cash equivalents are shown net of bank overdraft5 that are repayable on demand and form an inte6ral part olthè comp3n¢s cash management. Page 10

BIBLE IIFE FAITH MISSION INTERNATIONALWHERE ARE YOU GOING MINISTRY Notes to the Accounts Trade and other credltors 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 resutt in the transfer of funds to a third party and the amount due to Settle the obli8atlgn can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowirbg for any trade dsscounts due. Researth and development Expenditure on research and development is written off in the year in which ft Is Incurred. ForelBn ¢urrencles Monetary assets and Ilabilitie5 denominated in currencies otherthan the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reportlng period. Transactions in currenties other than the functional currency of the ¢har(ty are recorded at the rate of exchange on the date that the transaction occurred. All exchange differences are are taken into account in arriving at net income/expenditure. Leased assets Whère the charity enters into a lease whith entails taking substantially all the risks and rewards of ownership of an asset. the lease is treated as a finance lease. Leases which do not transfer substsntially all the risks and rewards of ownershlp to charity are Classrfied 35 operating leases. Asset5 held under finance leases are initially recognlsed as assets of the charity at theirfair value at the inception of the lease or, If lower, at the present value of the minimum lease payments. The corresponding liabillty to the lessor is Included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finante expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability- Finance expenses are recogni5ed Immediately, unle55 they are dirertly attributsble to qualifying assets, in which case they are capltalised in accordance wlth the charity's policy on borrowing costs. Asset5 held under finance leases are depreciated in the same way as owned assets. Operatlng lease payments are recognised as an expense on a straight-line basls over the lease tem). In the èvent that lease incerativès are received to enter into operating leases, such incentives are recognised a5 a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a 5tr3ight-line basis. Penslon costs The charity operates a deflned contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributlons Into a separate entity- Once the ontributlons have been paid the company has no further payments obllgatlons. The contributions are recognised as eKpen5es when they fall due. Amounts not paid are shown in accruals in the balance sheet. The asset5 of the plan are held separately from the company in indepenjjently administered funds. Receipt of donated 8oods, facllities and servlces All donated goods, facilities and servlces received are recognlsed within incomin8 fèsoLsrces and expenditure at an estimate of the value to the ch3rity. Page 11

BIBLE LIFE FAITH MISSION INTERNATIONAL WHERE ARE YOU GOING MINISTRY Notes to the Accounts 2 Company status The company is a private company limited by guarantee and consequently does not have share capltal. 3 Income from donatlons and legacSes Unre5triLted Totsl 2020 rithe&Offering 13,532 13,532 13,532 13,532 4 Othèr expenditure Unrestrlrted Total 2020 Ernployee cost5 Premises costs 400 9,450 9,450 Amortisation, depreciation. impairment. profitlloss on disposal of fixed assets General administrative costs Legal and professional costs 450 450 1,310 6CKI 1,310 600 12.210 12,210 5 Net income before translers 2020 Thls is stated aftèr charging.. Deprec13tlon of owned fixed assets 6 Staff costs No employee received emoluments In eX￿s5 of £60,000. 450 7 Tangible fixed assets Plant and machinery Totsl Cost or revaluatlon Additions 3,OCK) 3,OCM) 3,000 3,000 At 30 November 2020 Depreclatlon and Impalmient Depreciation charge for the year At 30 November 2020 450 450 450 450 Net book values At 30 November 2020 2.550 2,550 Page 12

BIBLE LIFE FAITH MISSION INfERNATIONAL WHERE ARE YOU GOING MINISTRY Notes to the Ac¢ounts 8 Credltors: amounts fallin8 due within one year 2020 Trade creditors Other eredltors 929 1,409 9 Movement In furlds In¢omlng resources Atao November 2020 lindudlng other galnsllosses Resources expended Restricted funds: Unréstrlcted funds: General funds 13,532 112,2101 1.322 Revaluatlon Resen￿5.. Total funds 10 Analysis of net asset5 bètween funds 13,532 112,2101 1.322 Unrestrlcted funds Totsl Fixed assets 2,550 11,2281 1,322 2,550 11,2281 1,322 Net current assets 11 Recon¢iliatlon of net debt At30 November 2020 Cash flows Cash and cash equivalent5 181 181 181 181 Net debt 181 181 Page 13

BIBLE UFE FAITH MISSION INTERNATIONAL WHERE ARE YOV GOING MINISTRY Detalled Statement of Flnandal Artmtles lor the perfod ended 30 November 2020 Unrestrkted funds Total funds 2020 Income and endowmerts from: Donation5 and legacies Tlthe&Offering 13,532 13,532 13,532 13,532 Total Income and endowments 13,532 13,532 Expendlture 0￿. Employee cost5 Staff welfare 400 400 400 400 Premises costs Rènt Light heat and power Lèasehold 6,500 250 6,500 250 2,700 9,450 2,700 9,450 General administrative costs, including depreciation and amortisation Depreciation of Plant and machlnery MiscellaneouslGifts Instrumentalist fee Statlonery and prlntlng Telephone. fax and broadband 450 450 750 50 750 50 150 150 360 1,760 360 1,760 Legal and professional costs Accountancy and trM)okkeepinB 600 600 600 600 Total of em￿ndItUre of other cost5 Total exPe￿IltUre Net galns on Investments 12.210 12,210 12,210 12,210 Net income 1,322 1,322 Net In¢ome before other 8ainslllosses1 Other Gains 1,322 1,322 Nèt movement In funds 1,322 1,322 Rewnclllation of funds: Page 14

BIBLE LIFE FAITH MISSION INTERNATIONAL WHERE ARE YOU GOING MINISTRY Detalled Ststement of FinancSal Actlvities Tota5 funds brought foNJard Total tunds carried forward 1,322 1,322 Page 15