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2023-04-30-accounts

Report and Financial Statements For the Year Ended 30 April 2023

30/04/2023

SPRINGFORTH INTERNATIONAL MINISTRY CHURCH Registered Charity No: 1189557

REPORT AND FINANCIAL STATEMENTS

CONTENTS Page
Legal and administrative information 3
Report of the Trustees 4
Report from Reporting Accountant 12
Statement of financial activities 14
Balance sheet 17
Notes to the financial statements 18

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REPORT AND FINANCIAL STATEMENTS

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees: Stephen Mwathi
Judith Mwanganu
RachaeL Mburu
Charles Kinyanjui
Alice Muhedzi
Samuel Karanja Kamau
Lucy Mugo
Registered Office: 18 DEANSIDE
CAMBERLEY
GU15 4DZ
Charity Number: 1189557
Accountants: Jacob Manu & Co
1 Mark Street
Stratford
London
E15 4GY
Bankers: NATWEST

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REPORT AND FINANCIAL STATEMENTS

REPORT OF THE TRUSTEES

The Trustees present the Annual Report and financial statements of SPRINGFORTH INTERNATIONAL MINISTRY CHURCH for the year ended 30 April 2023. The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities" (revised 2005) in preparing the Annual Report and Financial Statements of the charity/company. The Report and Financial Statements also comply with the Companies Act 2006.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Legal status and Governing document

The objects and powers of the charity were established in the Constitution of the church and the church is governed by it. The trustees are responsible for arranging and organizing Annual General Meetings - AGM.

Appointment

The Trustees who held office during the financial year and at the date of this report are set out on page 3. The Trustees are elected by the church in accordance with the rules set out in the Constitution. The method of appointment of the Church Council is also set out in the Church Constitution.

Induction and Training

Trustees, as part of their induction and training, go through series of training where they are briefed on their legal obligations and the Charity Commission’s guidance on public benefit. The objects and aims of the church are explained. Trustees and volunteers are also encouraged to attend appropriate external training events where these will facilitate the undertaking of their role.

Organization

The Board of Trustees and Council members are responsible for the overall strategy and direction of the Ministry. The Board of Trustees and Council members have the

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REPORT AND FINANCIAL STATEMENTS

responsibility of cooperating with the Reverend Minister in promoting the whole mission of the Church – pastoral, evangelistic, social and ecumenical. The Trustees give their time on a voluntary and unpaid basis. The Church Council has wide responsibilities. It has a number of committees; each dealing with a particular aspect of church life. These committees which include music/worship, events, outreach, welfare, and finance are accountable to and report back to the Board of Trustees and Church Council on regular basis.

Risk Management

The trustees have assessed the major risks to which the charity is exposed, in particular those related to operations and finances of the charity and are satisfied those systems are in place to mitigate exposure to the major risks. The trustees have a risk management strategy which comprises:

Interest of Board of Trustees

No member of the Trustees had, at any time during the period under consideration, any interests in the charity which require disclosure in this report.

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REPORT AND FINANCIAL STATEMENTS

AIMS AND PURPOSE/OBJECTIVES

The SPRINGFORTH INTERNATIONAL MINISTRY CHURCH was set up to, among others, to promote the religious and social well-being of the members and the community as a whole. The principal activities of the church include:

  1. To propagate the Gospel of the Kingdom of God through activities such as regular Sunday meetings and weekly activities; conferences, ministerial training and seminars.

  2. To share and demonstrate God’s love by ministering to the needs of people (both members and others).

  3. Worship services which are opened to the general public – during these services we encourage personal growth by developing and empowering people through preaching and teaching of the Gospel of Jesus Christ; by motivating people through seminars and conferences.

  4. To develop strong society by encouraging and building strong family relationship through seminars/conferences and family friendly activities.

  5. To evangelize in order to tell people about the love of Christ by the use of the media, tracts and other educative materials.

  6. To undertake general charitable activities – such as providing aid for the needy.

  7. To organise conferences and other social and community activities to let the people know their social responsibilities and to increase their relationship with God.

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REPORT AND FINANCIAL STATEMENTS

OBJECTIVES, AIMS AND PRINCIPAL ACTIVITIES

The SPRING FORTH INTERNATIONAL MINISTRY CHURCH is committed to enabling as many people as possible to worship at our church and to become part of our community. The trustees and the church council maintain an overview of worship throughout the parish and constantly seek ideas on how our services can involve the diverse population and groups that live within our parish and the community. Our services and worship put faith into practice through prayer and scripture, music, and sacrament.

When planning our activities for the year, the Board of Trustees has considered the Charity Commission’s guidance on public benefit and, in particular, the specific guidance on charities for the advancement of religion. In particular, we try to enable ordinary people to live out their faith as part of our church community through:

A summary of the result of the SPRINGFORTH INTERNATIONAL MINISTRY CHURCH activities during the period is given in the Statement of Financial Activities on page 16. Total income of the charity amounted to £51,125. The income was spent judiciously to meet the objectives of the Church.

Volunteers

Without the selflessness, hard work and dedication of our volunteers, we couldn’ have achieved our aims and objectives. The volunteers contribute greatly to the running of the church and enbles it to fulfil its objectives.

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REPORT AND FINANCIAL STATEMENTS

Financial Review

The book values of the assets held at the year-end are, in the opinion of the Board of Trustees, as stated in the financial statements. Also, in its opinion, adequate assets are available to fulfil the obligations of the charity. Our principal source of funds comes from the generous donations of committed members through Tithes and Offerings. Overall, we had a good financial year. Total receipts of £51,125 were spent to promote the Christian ministry and charitable activities.

Reserves Policy

The Trustees have identified the need for reserves to be held as developing a reserves policy will assist in strategic planning such as in considering how new projects or future activities will be funded. To ensure sustainability and continuity of funding future activities, the trustees plan to have unrestricted funds to cover at least 3 months of unrestricted payments. This policy will be reviewed regularly to meet the charitable needs of the Church.

Investment Policy

The Trustees have the power to invest in such assets as they see fit. The charity's investment policy is appropriate to the nature of the funds for which the investment is held. The primary investment aim is to provide a high degree of security and liquidity and to maximise returns whilst adopting a conservative approach. This policy is not yet implemented.

Grant Making Policy

As part of our charitable objectives of providing aid to the needy, grants are not ade but donations are given in the form of cash gifts to needy people and to members who find themselves in some form of financial difficulty.

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REPORT AND FINANCIAL STATEMENTS

ACHIEVEMENT AND PERFORMANCE

Worship and Prayer

SPRINGFORTH INTERNATIONAL MINISTRY CHURCH continue to offer a range of services during the week and over the course of the year. The church and the community find these services beneficial which promote their spiritual growth.

Education, Missions and Evangelism

SPRINGFORTH INTERNATIONAL MINISTRY CHURCH continue to educate and help those in need and members are encouraged to take learning opportunities to facilitate their growth.

Pastoral Care

Pastoral visits were made to as many people as were willing to access this service. Counseling demand was again high this year as more people reached forward for effective.

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REPORT AND FINANCIAL STATEMENTS

STATEMENT OF TRUSTEES’ RESPONSIBILITIES

The Charity Commission requires the directors, the Trustees, to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity at the year end, of its incoming resources and resources expended during that year. In preparing those financial statements, the Trustees are required to:

INDEPENDENT EXAMINER

Jacob Manu & Co has expressed their willingness to continue in service and a resolution on this would be put to the Board of Trustees at the forth-coming Annual General Meeting.

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REPORT AND FINANCIAL STATEMENTS

STATEMENT OF DISCLOSURES

a) So far as the Trustees are aware, there is no relevant information of which the

Church’s Independent Examiners are unaware, and

b) They have taken all the steps that they ought to have taken as Trustees in order to make themselves aware of any relevant information and to establish that the Church's Independent Examiners are aware of that information.

By order of the Board of Trustees

............................................... Stephen Mwathi Trustee

Date:26/05/2024

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REPORT AND FINANCIAL STATEMENTS

INDEPENDENT EXAMINERS’ REPORTFOR THE YEAR ENDED 30 APRIL 2023

We have examined the financial statements on pages 16 to 19 for the year ended 30 April 2023 which comprises the statement of financial activities. The financial statement has been prepared under the historical cost convention and the accounting policies set out therein.

The report is made solely to the Charity's Trustees, as a body, in accordance with Section 44 of the Charities Act 1993. The Trustees of the charity are of a general opinion that an audit is not required in accordance with Section 43(2) of the 1993 Act, and have opted for an independent examination instead.

Respective responsibilities of trustees and independent examiners

The Trustees, have responsibilities for preparing the Trustees' Report and the Financial Statements in accordance with applicable law and United Kingdom Accounting Standards. These are set out in the Statement of Trustees' Responsibilities in the Report of the Trustees.

Our responsibilities as independent examiners of the charity are:

  1. to examine the books and accounts of the charity in compliance with Section 43 of the 1993 Act;

  2. to strictly adhere to the general directions provided by the Charity Commission under Section 43(7)(b) of the Charities Act 1993; and

  3. to state whether particular matters have come to our attention in the course of our examination.

We report to you whether the financial statements have properly been prepared in accordance with United Kingdom Generally Accepted Accounting Practice, the Companies Act 2006 and in accordance with the Charities Act 1993.

We also report to you whether the information given in the Trustees' Report is consistent with the financial statements. We consider the implications of our report if we become aware of any apparent misstatements or material inconsistencies with the financial statement

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REPORT AND FINANCIAL STATEMENTS

In addition we report to you if the charity has not kept proper accounting records, if we have not received all the information and explanations we require for our work, or if information specified by law regarding trustees' remuneration and other transactions with the charity is not disclosed.

Basis of opinion

Our examination was carried out in accordance with the General Directions provided by the Charity Commission. The examination includes a review of the books and documents and other accounting records kept by the charity and comparing these with the accounts presented.

Our examination also includes consideration of any unusual disclosures or items in the accounts, and seeking explanations from the Trustees. It is imperative to state here that the procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair view'. Our report is therefore limited to the statements below:

Independent examiners' statement

In connection with our examination, we report that no matter has come to our attention, which gives cause to believe that the following have not been met:

  1. Keeping proper accounting records in accordance with Section 386 and 387 of the Companies Act 2006.

  2. Preparing accounts which accord with the underlying accounting records and which are in compliance with the Companies Act 2006, the United Kingdom Generally Accepted Accounting Practice (UK GAAP), the Statements of Recommended Practice (SORP) - Accounting and Reporting by Charities and the Charities Act 1993.

  3. Consistency of the information contained in the Trustees Report with the financial statements.

..................................................... Date: .........26.... Day of...May...........2024

Jacob Manu & Co

Chartered Certified Accountants 1 Mark Street, Stratford, London, E15 4GY

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REPORT AND FINANCIAL STATEMENTS

STATEMENT OF FINANCIAL ACTIVITYFOR THE PERIOD ENDED 30 APRIL 2023

Descriptions by natural
category
Note
Unrestricted
funds
Restricted
income
funds
Total this
year
2023
£
£
£
Incoming resources
3
Voluntary Income
51,125
-
51,125
-
-
-
Other Income
-
-
-
-
-
-
-
Total incoming resources
51,125
-
51,125		 Descriptions by natural
category
Note
Unrestricted
funds
Restricted
income
funds
Total this
year
2023
£
£
£
Incoming resources
3
Voluntary Income
51,125
-
51,125
-
-
-
Other Income
-
-
-
-
-
-
-
Total incoming resources
51,125
-
51,125		 Descriptions by natural
category
Note
Unrestricted
funds
Restricted
income
funds
Total this
year
2023
£
£
£
Incoming resources
3
Voluntary Income
51,125
-
51,125
-
-
-
Other Income
-
-
-
-
-
-
-
Total incoming resources
51,125
-
51,125		 Descriptions by natural
category
Note
Unrestricted
funds
Restricted
income
funds
Total this
year
2023
£
£
£
Incoming resources
3
Voluntary Income
51,125
-
51,125
-
-
-
Other Income
-
-
-
-
-
-
-
Total incoming resources
51,125
-
51,125
Total this
year
2022
51,125 - 51,125 50,695
- - -
-
- - -
- - -
51,125 - 51,125 50,695
Resources expended
4
Cost of Activities
Governance Cost
Total resources expended
Net incoming/(outgoing) resources
before transfers
Gross transfers between funds
Net incoming/(outgoing) resources
before other recognised
gains/(losses)
19,039 - 19,039 16,984
- - -
-
- - -
19,039 - 19,039 16,984
32,086 - 32,086 33,711
- - -
32,086 - 32,086 33,711

Other recognised gains/(losses)

cognised gains/(losses)
Net movement in funds
Total funds brought
forward1/05/2022
Total funds carried forward
31/04/23		 32,086 - 32,086 37,711
6,576 6,576
0
38,662 38,662 6,576
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REPORT AND FINANCIAL STATEMENTS

STATEMENT OF FINANCIAL ACTIVITY FOR THE PERIOD ENDED 30 APRIL 2023

Note
Total this year
30.04.2023
£
Fixed assets
Tangible assets
6
3,480
Total fixed assets
3,480
Current assets
Stock and work in progress
-
Debtors
(Short term) investments
-
Cash at bank and in hand
32,086
Total assets
38,662
Creditors: amounts falling due within one
year
0
Net current assets/(liabilities)
Total assets less current liabilities
38,662
Creditors: amounts falling due after one year
-
Provisions for liabilities and charges
-
Net assets
38,662
Funds of the Charity
7
Unrestricted funds
38,662
Designated funds
-
Total unrestricted funds
Restricted income funds
Total funds
38,662		 Note
Total this year
30.04.2023
£
Fixed assets
Tangible assets
6
3,480
Total fixed assets
3,480
Current assets
Stock and work in progress
-
Debtors
(Short term) investments
-
Cash at bank and in hand
32,086
Total assets
38,662
Creditors: amounts falling due within one
year
0
Net current assets/(liabilities)
Total assets less current liabilities
38,662
Creditors: amounts falling due after one year
-
Provisions for liabilities and charges
-
Net assets
38,662
Funds of the Charity
7
Unrestricted funds
38,662
Designated funds
-
Total unrestricted funds
Restricted income funds
Total funds
38,662		 Total this
year
30.04.2022
3,480 3,480
3,480 3,480
- -
- -
32,086 _36,807 _
_38,662 _ _40287 _
0 0
38,662 40287
- -
- -
_38,662 _ _40,287 _
38,662 40,287
-
38,662 40,287

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REPORT AND FINANCIAL STATEMENTS

NOTES TO THE ACCOUNTSFOR THE YEAR ENDED 30 APRIL 2023 Registered Charity Number 1067856

1 ACCOUNTING POLICIES

The principal accounting policies which have been adopted are set out below: -

2 BASIS OF ACCOUNTING

The financial statements have been prepared under the historical cost convention and in accordance with applicable accounting standards and the Statement of Recommended Practice, “Accounting and Reporting by Charities” (SORP 2005) issued in January 2005.

3 INCOMING RESOURCES

Voluntary income includes grants that provide core funding or are of general nature are recognized in full in the Statement of Financial Activities in the year in which they are receivable, except when the donors specify that the grant given must be used in future accounting period, the income is deferred until those periods.

Incoming resources from charitable activities include income received under contract or where entitlement to grant funding is subject to specific conditions to deliver and is recognized whereas the service is provided.

Other income is accounted for on a cash basis.

4 RESOURCES EXPENDED

Expenditure is recognized when the liability is incurred.

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REPORT AND FINANCIAL STATEMENTS

NOTES TO THE ACCOUNTSFOR THE YEAR ENDED 30 APRIL 2023 Registered Charity Number 1067856

5 TAXATION

The organization is a charitable institution with exemption from UK taxation under section 505 of the Income and Corporation Taxes Act 1988.

6 TANGIBLE NON-CURRENT ASSETS

The organization’s non-current assets include musical instruments and they are depreciated on straight line basis

7 FUND ACCOUNTING

Unrestricted funds are grants, donation and other incoming resources receivable or generated for the objects of the charity without further specified purpose and are available as general funds.

Restricted funds are funds that can only be used for specific purposes as laid down by the donor. Expenditure, which meets this criterion, is charged to the fund, together with a fair allocation of management and support costs.

Designated funds are funds set aside by trustees out of unrestricted general funds for specific future purpose, or relate to grants given specifically for the purchase of assets where the use is not restricted. The aim and use of each of the designated fund is set out in the notes to the financial statements.

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REPORT AND FINANCIAL STATEMENTS

CHARITABLE EXPENSES CHARITABLE EXPENSES
UNRESTRICTED 2023 2022
£ TOTAL
£		 TOTAL
£
RENT/HALL HIRE 2,400 2,400 2,400
INSURANCE 276 276 276
PROFESSIONAL
FEES		 700 700 650
ADMINISTRATION 6,100 6,100 4,036
TELEPHONE 410 410 330
MISSION 8,200 8,200 7,665
SUNDRY 953 953 1,627
TOTAL 19,039 19,039 16,984

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