Registered number 1188141 AUDACITY OF FAITH MINISTRIES INTERNATIONAL Accounts 31.12.2022 AUDACITY OF FAITH MINISTRIES INTERNATIONAL Report and accounts Contents Page Charity information Trustee Report Incomme and expenditure accounts Blance sheet notes lo the accounts AUDACITY OF FAITH MINISTRIES INTERNATIONAL Company Information Trustee8 IMOH USSENUDOH Charlty Address 147 Seaford Road Salford M6 6DD Reglstered office 147 SEAFORD ROAD MANCHESTER M6 60D Registered number 1188141 Accountants Manchester Accountancy Services First Floor 144 Cheelham hill Road Manchester M8 8PZ Caharity reglstratlon no 1188141 Bankers Na￿est Bank 19 market street Manchester M1 1WR AUDACITY OF FAITH MINISTRIES INTERNATIONAL Registered number.. 1188141 TRUSTEES REPORT The Trustees have pleasure In presenting their report and th unaudited financial ststemenls of the charity for the period ended 3111212022 TRUSTEES Imoh Ussenudoh, Blessing Ezeofor, Ange Michel Mapata Loufoua There is no chief exceutive and the day lo day affairs of the chanty are undertaken by IMOH USSENUDOH, one of the Trustees. STRUCURE GOVERNANCE and MANAGEMENT Audacity of Faith Ministrie5 International is governed by a trust deed dated 2411012019. 11 was regiuslered as a charity 2410212020 and the charity number is 1188141. Recruitment and appointment of new Iruslees would be in line with the trust deed and with the eon- sent of the Iruslees. The criteria sel out for the Suitable candidate would be someone who is sens- ilive lo the needs and demands of the organisation. RISK REVIEW The Iruslees have assesd the risks to which the charity is exF)osed, in particular those related to Imoh Ussenudoh the operations and finances of the trust , and arer satisfied that systems a￿ in place to manage this. OBJECTIVES & ACTIVITIES 1 The advancement of the Christian faith worldwide 2 The releif of poverty PUBLIC BENEFIT The Iruslees confirm that they have refferred lo guidance contained in the charity commision's general guidance lo public benefit and in particular lo its supplementary public benefrl guidance on advancing education when reviewing the charity's aims and objectives and in plannning future activities and setting grant making policy. GRANT MAKING POLICY The charity is funded by donations. The charity currentty does not give out grants. RESPONSIBILITES OF THE TRSUTEES The Iruslees are responsible lor preparing the Iruslees annual report and the financial stslemenls in accordance with applicable law an(J United Kingdom Accounting Standards. Financlal review of the year Donation and fee received during the year were £ 1761 and and £1477 was spent on premises and Management & Administration costs This report was approved by the board on 1210312025 and signed on its behalf. IMOH USSENUDOH Trustee & AUDACITY OF FAITH MINISTRIES INTERNATIONAL INCOME AND EXPENSE ACCOUNTS for the period from 1 January 2021 to 31 December 2022 2022 Donation 1,761 Cost of sales 13371 Gross proflt Administrative expenses 11,1401 Surplus income 284 Surplus income for the year AUDACITY OF FAITH MINISTRIES INTERNATIONAL Registered number: 1188141 Balance Sheet as at 31 December 2022 Notes 2022 Current as$et8 Cash at bank and in hand 284 Cr&dltor8: amount8 falllng due wlthln one year 12481 Net current a8s6ts 36 Net 488ets 36 Capltal and rese￿0$ Unre$lricled Funds 292 Surplu• fund• 292 Trustees Imoh Ussenudoh approved by the board on 1210112023 AUDACITY OF FAITH MINISTRIES INTERNATIONAL Notes to the Accounts for the year ended 31 December 2022 1 Accountlng pollcles Ba31$ olpreparatlon The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland las applied lo small entities by section 1A of the 51andardl. Turnovor Turnover is measured al the fair value of the consideration received or receivable, net of discounts and value added taxes Turnover ineludes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred lo the buyer. Tumover from the Tendering of services is recogni5ed by reference lo the stage of completion ol the Contract. The stage of completion ol a contract is measured by Comparing the costs Incurred for work performed lo dale lo the lolal eslimaled eonlracl c051s Intanglble fl¥ed as$ets Intangible fixed assets are measured al cost less accumulative amortisalion and any accumulative impairment losses. Tanglble flxed assets Tangible fixed assets are measured al cost less accumulative depreciation and any 8ccumulatlve impairment losses. Oeprecialion is provided on all tangible fixed assets, other than freehold lan¢J, al rates calculated lo write off the cost, less eslimaled residual value, of tsach asset evenly over ils expected useful life, as follows.. Freehold buildings Leasehold land and buildings Plant and machinery Fixture$. fillings, tools and equipment er 50 years over the lease term over 5 years over 5 years Inv8$tment8 Investments in subsidiaries. associates and ioinl ventur68 are measu￿￿ at cost less any accumulated impairment losses. Listed investments are measured al fair value. Unlisted investments are measured al fair value unless the value cannot be measured reliably, in which case they are measured al cost less any a¢cumulal•d impairment losses, Changes in fair value are in¢luded in the profil and loss account. Stocks Stocks are measured al the lower of cos18nd eslimaled selling price less costs lo complete and sell. Cost 15 determined using the first in first out m•lhod. The carrying amount of stock sold 1$ recognised as an expense In the period in which the r8laled revenue 15 recognised. Debtors Short term debtors are measured al transa¢tion price (which is usually the invoice pricel, less any impaimenl losses for bad and doubtful debts. Loans and other financial assets are initially recognised al transaction price including any transaction costs and subsequently measured al amortised cost determined using the effectsve interest method, less any impaimienl losses for bad and doubtful debts. Crgdltors AUDACITY OF FAITH MINISTRIES INTERNATIONAL Notes to the Accounts for the year ended 31 December 2022 Short term creditors are measured at transaction price (which is usually the invoice pricel. Loans and other financial liabilities are initially recognised al transaction price net of any transaction costs and subsequently measured at amortised ¢o$l determined using the effective interest method. Taxatlon A current tax liability is recognised for the lax payable on the taxable profit of the current and past periods. A current lax asset is re¢ognised in respect of a tax loss that can be carried back lo recover lax paid in a previous period. Deferred lax is recognised in respect of all liming differences be￿een the recognition of income and expenses in the financial statements and their inclusion in lax assessments. Unrelieved lax los$e5 anci other deferred lax assets are recognised only lo the exlenl that Il is probable that they will be recovered against the reversal of deferred lax liabilities or other future taxable profits. Deferred tax is measured using the lax rates and laws that have been enacted or subslanlively enacted by the reporting dale and that are expected lo apply lo the reversal of the timing difference. except for revalued land and investment property where the 18X rale that applies lo the sale of the asset 18 used Current and deferred lax assets and liabilities are not discounted. Provlslons Provisions lie Iiabililies of uncertain liming or amount) are recognised vthen there is an obligation al the reporting dale as a result of a past event, Il is probable that economic benefit will be Iransfeffed lo sellle the obligation and the amount of the obligation can be eslimaled reliably. For•lgn currency translatlon Transactions in foreign currencies are Initially r•cognlsed al the rale of exchange ruling al the dale of the Iransaclion. Al the end of each reporting period foreign currency monetary Items are translated al the closing rale of exchange. Non-monelary items that are measured al historical cost are translated al the rale ruling al the date of the Iransaclion. All differences ale charged lo profil or loss. Leasod assets A lease Is classified as a linance lease if it translers subslanlially all the risks and rewards Incidental lo ownership. All other leases are classified as operating leases. The rights ol use and obligations under finance lease5 are initially re¢ognised as assets and liabilities al amounts equal lo the fair value of the leased assets or, if lower, the present value ol the minimum lease payments. Minimum lease payments are apportioned be￿een the finance charge and the reduction in the oulslanding liability using the effective interest rale method. The finance char9e is allocated lo each period during the lease so as lo produce a constant periodic rale of interest on the remaining balance ol the liability. Leased assets are depreciated in accordance with the company'5 policy for tangible fixed assets. If there 1$ no reasonable certainty that ownership will be obtained al the end of the lease term, the asset is dep￿l¥led over the lower ol the lease term antj ils useful life. Operating lease payments are recognl8e