Registered number 1188141 AUDACITY OF FAITH MINISTRIES INTERNATIONAL Accounts 31.12.2023 AUDACITY OF FAITH MINISTRIES INTERNATIONAL Report and accounts Contsnts Page Chafity information Trustee Report Incomme and expenditure accounts Blance sheet notes to the accounts AUDACITY OF FAITH MINISTRIES INTERNATIONAL Company Information Trustees IMOH USSENUDOH Charity Address 147 Seaford Road Salford M6 60D Registered office 147 SEAFORD ROAD MANCHESTER M6 60D Registered number 1188141 Accountants Manchester A¢¢ounlancy Services First Floor 144 Cheetham hill Road Manchester M8 8PZ Caharlty registration 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 statements of the charity for the period ended 3111212022 TRUSTEES Imoh Ussenudoh, Blessing Ezeofor. Ange Michel Mapata Loufoua There is no chief exceulive and the day lo day affairs of the charity are undertaken by IMOH USSENUDOH, one of the Trustees STRUCURE GOVERNANCE and MANAGEMENT Audacity ol Faith Ministries International Is governed by a tru51 deed dated 2411012019. 11 was regiuslered as a charity 2410212020 and the charity number Is 1188141. Recruilmenl and appointment of new Iruslees would be in line with the trust deed and with the con- sent of the trustees. The criteria sel out for the suitable candidate would be someone who 18 sens- itive lo the needs and demands of the organisalion. RISK REVIEW The Iruslees have assesd the risks lo which the charity is exposed, In particular those related lo Imoh Ussenudoh the operations and finances ol th8 ITU81 , and arer satisfied that systems are in place lo manage thi8. OBJECTIVES & ACTIVITIES 1 The advan¢emenl ol the Christian lailh worl¢Jwide 2 The releif of poverty PUBLIC BENEFIT The Iruslees Confirm that they have refferred lo guidance contained in the charity ¢ommision's general guidance lo public benefit and In particular lo 11$ supplementary public benefit 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 chaiity Is funded by donations. The charity currently does not givè out grant5. RESPONSIBILITES OF THE TRSUTEES The Iruslees are responsible for preparing the Iruslee5 annual report and the financial statements in accordance with applieable law and United Kingdom A¢counling Standaids. Flnanclal revlew of thè year Donation and fee received during the year were £ 5129 and and £4455 was spent on premises and Management & Adminislralion costs Thi5 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 year ended 31 December 2023 2023 Donatlon 5,129 Cost of sales 11,6671 Gro88 proflt 3.462 Adminislralive expenses 12,7881 Surplus Income 674 Surplus Income for the year 284 AUDACITY OF FAITH MINISTRIES INTERNATIONAL Registered number: 1188141 Balance Sheet as at 31 December 2023 Notos 2023 Current assets Cash al bank and in hand 1.432 CredStor8: amounts falling due within one year 14661 Net current a$sets 966 Ngt assets 966 Capltal and reserrfes Unreslricled Funds 576 Surplus fund$ 576 Trustees Imoh Ussenudoh approved by the board on 1210112023 AUDACITY OF FAITH MINISTRIES INTERNATIONAL Notes to the Accounts for the year ended 31 December 2023 1 A¢¢ountlng pollcles Basls of preparation The accounts have been prepared under the histollcal cost convention and in accordance with FRS 102, The Financial Reporting Stsndard applicable in the UK and Republic of Ireland las applied lo small entities by section 1A of the sland8rdl. Turnover Turnover is measured al the fair value of the consideration received or weivable, nel of discounts and value added taxes. Turnover includes fevenue earned from the sale of goods and from the rendering ol 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. Turnover from the rendering of services is re¢ognised by reference lo the stage of completion of the contract. The Stage of eomplelion of a contract is rneasu￿d by comparing the costs incurred for work performed to date to the total e51imaled contract costs. Intangible fixed assets Intangible fixed assets are measured al cost less accumulative amortisation and any accumulative impairment losses Tangible flxed assets Tangible fixed a5set5 are measured al cost less a¢¢umulative depwi8tion and any accumulative impaimienl losses. Depreciation is provided on all tangible fixed assets, other than freehold land, al rates calculated lo write off the cost, less estimated residual value. of each asset evenly over ils expected useful life. as follows. Freehold buildings Leasehold land and buildings Plant and machinery Fixtures, fittings. tools and equipmenl over 50 years over the lease term over 5 years over 5 years Investments Investments In subsidiaries, associates and joint venture5 are measured at ¢ost less any accumulated impairment losses. Listed investments are measured al fair value. Unlisted investments are measured at fair value unless the value ¢annol be measured reliably, in which case they are measured al cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account. Stocks Stocks are measured al the lower of cost and estsmaled selling price less costs lo complete and sell. Cost Is determined using the first in first out method. The carrying amount of stock sold is recognised a5 an expense in the period in which the related revenue 1$ recognised. Debtors Short term debtors are measured al transaction price {which is usually the invoice pricel, less any impairment losses for bad and doubfful debts. Loans and other financial assets are initl8lly recognised al transaction price including any transaction costs and subsequently measured at amortised cost determined usin9 the effective interest method, less any impairment losses for bad and doubtful debts. Creditors AUDACITY OF FAITH MINISTRIES INTERNATIONAL Notes to the Accounts for the year ended 31 December 2023 Short term creditors are measured al transaction pn'ce Iwhich is usually the invoice pricel. Loans and other financial liabilities are initially recognised al transaction price net of any transaction costs and subsequently measured al amortised cost delermined using the effective interest method. Taxatlon A current lax liability is recognised for the lax payable on the taxable profit of the current and past periods. A current lax asset is recognised in respect of a tax loss that can be Carried back lo recover lax paid in a previous period. Deferred tax Is recognised in respect of all liming difference5 be￿een the recognition of income and expenses in the financial statements and their inclusion in lax assessments Unrelieved lax losses and other deferred tax assets are recognised only lo the exlenl that It is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred lax is measured using the tax rale$ and laws that have been enacted or substantively enacted by the reporting date and that are expected lo apply lo the reversal of the timing difference, except for revalued land and investment property where the lax rate that applies lo the sale of the asset Is used. Current and deferred tax assets and liabilities are not dis¢ounled. Provlslons Provisions lie liabilities of uncertain liming or arnountl are recognised when there is an obligation al the reporting dale as a result of a past event. il is probable that economic benefit will be transferred lo settle the obligation and the amount of the obligation can be estsmated reliably. Foréign eurrgncy translatiTon Transactions In foreign currencies are initially recognlsed at the rale of exchange ruling al the dale of the Iransaclion. At the end of each reporting period foreign currency monetary items are translated al the elosing rale of exchange. Non-monelary items that are measured al historical cost are translated al the rale ruling al the dale of the Iransacbon. differences are charged to profil or loss. Leasgd assets A lease is classified as a finance lease if il transfers substantially all the risks and reward5 incidental lo ownership. All other leases are ¢lassified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities al amounts equal to the fair value of the leased assets or, If lower. the present value of the minimum lease payments. Minimum lease payments are apportioned be￿een the finance charge and the reduction in the outstanding liability using the effective interest rale method. The finance charge is allocated lo each period during the lease so as lo produce a constant periodic rale of Interest on the remaining balance of the liability. Leased assels are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained al the end of the lease term. the asset is depreciated over the lower of the lease term and ils useful life. Operating lease payments are recognbed as an expense on a straight line basis over the lease term. Pensions Contributions to defined contribution plans are expensed in the period to which they relate. 2 Credltors.. amounts falllng due within one year 2023 Trade creditors 466 AUDACITY OF FAITH MINISTRIES INTERNATIONAL Notes to the Accounts for the year ended 31 Decèmber 2023 3 Other Infomiation AUDACITY OF FAITH MINISTRIES INTERNATIONAL is a private Company limited by shares and incorporated in England. Ils registered office is.. 147 SEAFORD ROAD MANCHESTER M6 6DD AUDACITY OF FAITH MINISTRIES INTERNATIONAL Detailed income and expenditure account for the year ended 31 December 2023 This schedule does not form pert of Ihe sl8lutory accounts 2023 Income 5,129 Cost of sale5 {1,6671 Gro88 proflt 3,462 Adminislralive expense5 12.7881 Surplu¥ Income 674 Surplu8 Income lor tho Year 674 AUDACITY OF FAITH MINISTRIES INTERNATIONAL Detailed Income and expenditure a¢count for the year ended 31 December 2023 This SGhedul& does not form part of the slalutory accounls 2023 Income 5,129 Cost of sales Purchase$ 1,667 Adminl8tratlve expens08 Employee costs.. Travel and 5ubsisten¢e Entertaining 350 602 952 General adminislralive expense$.' Information and publications Repairs an¢J maintenance Sundry expenses 350 113 116 579 Legal and professional co$ls', Consultancy lees Advertising and PR Other legal 8n¢J professional 250 757 250 1,257 2,788