REGISTERED COMPANY NUMBER: 12587631 (England and Wales) REGISTERED CHARITY NUMBER: 1190267
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 May 2024
for
BETHSHAN FOUNDATION LTD
Hanson & Associates Chartered Certified Accountants Room 19 Anerley Business Cerntre Anerley Road London SE20 8BD
BETHSHAN FOUNDATION LTD
Contents of the Financial Statements for the Year Ended 31 May 2024
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | to | 6 |
| Notes to the Financial Statements | 7 | to | 11 |
| Detailed Statement of Financial Activities | 12 | to | 13 |
BETHSHAN FOUNDATION LTD
Report of the Trustees for the Year Ended 31 May 2024
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 May 2024. The trustees have adopted the provisions of 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 (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Significant activities
This year has seen good progress in our activities as a Company and Charity. We have also seen our income and attendance grow significantly.
We have been able to use the premises for our church Truth Vine, regular prayer meetings and also to help people on a practical basis with seminars on how to set up and progress business and also with help on a spiritual basis.
We are however having our own premises built and it should be finished in the next financial year.
Truth Vine church very vibrant and increasing quickly. A great number of people have become more mature. We may have to move to two meetings each Sunday.
We ran some conferences and seminars in conjunction with Betty King International ministries. These meetings see many come along and we get very good reports on how the teaching helped.
We have a youth section which is in demand and we also have a section holding ladies meetings under the title "when strong women unite". These meetings are popular and powerful
We support an orphanage in Israel.
We also support a school in Kenya situated in the slum area Kibiri.
The prophetic school attracts a good number students from different churches and we are so blessed to have wonderful lecturers. We believe this helps many churches.
We are fully involved and active in the media having regular broadcasts and thus the ministry is able to reach out to a very wide audience.
We have a feeding programme which is aimed at those sleeping on the streets and it greatly appreciated by those in need.
A new venture is help in fostering children.
We continue to meet for prayer every Tuesday.
For the next financial year we expect the True Vine Church to grow.
We will continue our programme in Ghana and in particular a number of widows have been greatly helped.
Public benefit
Our public benefit included helping people set up in business and to get advice from top business people We helped people who were emotionally damaged
We gave our premises for other charities to use We helped widows and villages in Ghana We support an orphanage in Israel.
We support a school in Kenya which is in the slum area of Kibiri , Nairobi.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Organisational structure
The management of Bethshan Foundation Ltd is the responsibility of the Board of Trustees. The board of Trustees manage Bethshan Foundation Ltd on a voluntary basis. The board meets from time to time to plan policies and ensure theses policies are understood and implemented throughout the church.
The Board of Trustees also undertake projects and activities considered to be essential for the spiritual and social development of the members as well as in the local communities where the church serves.
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
Page 1
BETHSHAN FOUNDATION LTD
Report of the Trustees
for the Year Ended 31 May 2024
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
12587631 (England and Wales)
Registered Charity number
1190267
Registered office
33 - 35 Wembly Hill Road Wembley Middlesex HA9 8AS
Trustees
Elizabeth Anne King Antony John Horswood
Independent Examiner
Alfred Kwesi Hanson Hanson & Associates Chartered Certified Accountants Room 19 Anerley Business Cerntre Anerley Road London SE20 8BD
Approved by order of the board of trustees on 12 February 2025 and signed on its behalf by:
Rev E A King - Trustee
Page 2
Independent Examiner's Report to the Trustees of BETHSHAN FOUNDATION LTD
Independent examiner's report to the trustees of BETHSHAN FOUNDATION LTD ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 May 2024.
Responsibilities and basis of report
As the charity's trustees of the Company (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 Company 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
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the Company as required by 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 of 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 methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (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.
Alfred Kwesi Hanson The Association of Chartered Certified Accountants
Hanson & Associates Chartered Certified Accountants Room 19 Anerley Business Cerntre Anerley Road London SE20 8BD
17 February 2025
Page 3
BETHSHAN FOUNDATION LTD
Statement of Financial Activities for the Year Ended 31 May 2024
| 31.5.24 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 395,089 Investment income 2 98 Total 395,187 EXPENDITURE ON Raising funds 3 - Charitable activities Ministry 226,944 Other 130,337 Total 357,281 NET INCOME 37,906 RECONCILIATION OF FUNDS Total funds brought forward 335,427 TOTAL FUNDS CARRIED FORWARD 373,333 |
31.5.23 Total funds £ 540,858 82 |
|---|---|
| 540,940 | |
| 672 311,641 122,059 |
|
| 434,372 | |
| 106,568 228,859 |
|
| 335,427 |
The notes form part of these financial statements
Page 4
BETHSHAN FOUNDATION LTD
Balance Sheet
31 May 2024
| 31.5.24 Unrestricted fund Notes £ FIXED ASSETS Tangible assets 7 11,872 CURRENT ASSETS Debtors 8 49,779 Cash at bank 313,602 363,381 CREDITORS Amounts falling due within one year 9 (1,920) NET CURRENT ASSETS 361,461 TOTAL ASSETS LESS CURRENT LIABILITIES 373,333 NET ASSETS 373,333 FUNDS 10 Unrestricted funds: General fund 373,333 TOTAL FUNDS 373,333 |
31.5.23 Total funds £ 1,662 82,477 253,089 335,566 (1,801) 333,765 335,427 335,427 335,427 335,427 |
|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
Page 5
continued...
BETHSHAN FOUNDATION LTD
Balance Sheet - continued
31 May 2024
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 12 February 2025 and were signed on its behalf by:
E A King - Trustee
The notes form part of these financial statements
Page 6
BETHSHAN FOUNDATION LTD
Notes to the Financial Statements for the Year Ended 31 May 2024
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. INVESTMENT INCOME
| 31.5.24 | 31.5.23 | |
|---|---|---|
| £ | £ | |
| Deposit account interest | 98 | 82 |
continued...
Page 7
BETHSHAN FOUNDATION LTD
Notes to the Financial Statements - continued for the Year Ended 31 May 2024
3. RAISING FUNDS
Investment management costs
| Investment management costs | |||
|---|---|---|---|
| 31.5.24 | 31.5.23 | ||
| £ | £ | ||
| Support costs | - | 672 | |
| 4. | NET INCOME/(EXPENDITURE) | ||
| Net income/(expenditure) is stated after charging/(crediting): | |||
| 31.5.24 | 31.5.23 | ||
| £ | £ | ||
| Depreciation - owned assets | 5,790 | 5,790 |
5. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 May 2024 nor for the year ended 31 May 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 May 2024 nor for the year ended 31 May 2023.
6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |
|---|---|
| fund | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Donations and legacies | 540,858 |
| Investment income | 82 |
| Total | 540,940 |
| EXPENDITURE ON | |
| Raising funds | 672 |
| Charitable activities | |
| Ministry | 311,641 |
| Other | 122,059 |
| Total | 434,372 |
| NET INCOME | 106,568 |
| RECONCILIATION OF FUNDS | |
| Total funds brought forward | 228,859 |
| TOTAL FUNDS CARRIED FORWARD | 335,427 |
continued...
Page 8
BETHSHAN FOUNDATION LTD
Notes to the Financial Statements - continued for the Year Ended 31 May 2024
7. TANGIBLE FIXED ASSETS
| Plant and machinery £ COST At 1 June 2023 30,579 Additions 16,000 At 31 May 2024 46,579 DEPRECIATION At 1 June 2023 32,117 Charge for year 4,990 At 31 May 2024 37,107 NET BOOK VALUE At 31 May 2024 9,472 At 31 May 2023 (1,538) 8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Amounts recoverable on contract Other debtors 9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors Other creditors 10. MOVEMENT IN FUNDS At 1.6.23 £ Unrestricted funds General fund 335,427 TOTAL FUNDS 335,427 |
Fixtures and fittings £ 4,000 - 4,000 800 800 1,600 2,400 3,200 31.5.24 £ 49,779 - 49,779 31.5.24 £ - 1,920 1,920 Net movement in funds £ 37,906 37,906 |
Totals £ 34,579 16,000 50,579 32,917 5,790 38,707 11,872 1,662 31.5.23 £ 75,727 6,750 82,477 31.5.23 £ 1 1,800 1,801 At 31.5.24 £ 373,333 |
Totals £ 34,579 16,000 |
|---|---|---|---|
| 50,579 | |||
| 32,917 5,790 |
|||
| 38,707 | |||
| 11,872 | |||
| 1,662 | |||
| 373,333 |
continued...
Page 9
BETHSHAN FOUNDATION LTD
Notes to the Financial Statements - continued for the Year Ended 31 May 2024
10. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Incoming resources £ Unrestricted funds General fund 395,187 TOTAL FUNDS 395,187 Comparatives for movement in funds At 1.6.22 £ Unrestricted funds General fund 228,859 TOTAL FUNDS 228,859 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 540,940 TOTAL FUNDS 540,940 |
Resources Movement expended in funds £ £ (357,281) 37,906 (357,281) 37,906 Net movement At in funds 31.5.23 £ £ 106,568 335,427 106,568 335,427 Resources Movement expended in funds £ £ (434,372) 106,568 (434,372) 106,568 |
Resources Movement expended in funds £ £ (357,281) 37,906 (357,281) 37,906 Net movement At in funds 31.5.23 £ £ 106,568 335,427 106,568 335,427 Resources Movement expended in funds £ £ (434,372) 106,568 (434,372) 106,568 |
|---|---|---|
| 106,568 |
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 1.6.22 £ 228,859 228,859 |
Net movement in funds £ 144,474 144,474 |
At 31.5.24 £ 373,333 |
|---|---|---|---|
| 373,333 |
continued...
Page 10
BETHSHAN FOUNDATION LTD
Notes to the Financial Statements - continued
for the Year Ended 31 May 2024
10. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 936,127 936,127 |
Resources Movement expended in funds £ £ (791,653) 144,474 (791,653) 144,474 |
Resources Movement expended in funds £ £ (791,653) 144,474 (791,653) 144,474 |
|---|---|---|---|
| 144,474 |
11. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 May 2024.
Page 11
BETHSHAN FOUNDATION LTD
Detailed Statement of Financial Activities for the Year Ended 31 May 2024
| Detailed Statement of Financial Activities for the Year Ended 31 May 2024 |
||
|---|---|---|
| 31.5.24 | 31.5.23 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Gifts | 74,262 | 43,397 |
| Donations | 223,083 | 408,585 |
| Gift aid | 90,156 | 55,019 |
| Other Income | 7,588 | 33,857 |
| 395,089 | 540,858 | |
| Investment income | ||
| Deposit account interest | 98 | 82 |
| Total incoming resources | 395,187 | 540,940 |
| EXPENDITURE | ||
| Charitable activities | ||
| Ministry | 134,496 | 163,352 |
| Charitable Activities | 59,363 | 56,651 |
| Foster Homes | - | 10,000 |
| Israel Project | - | 14,176 |
| Glory of Zion | 3,761 | 7,462 |
| Football Academy Project | - | 60,000 |
| 197,620 | 311,641 | |
| Other | ||
| Rent & Rates | 69,600 | 63,800 |
| Insurance | - | 1,255 |
| Light & Heat | 1,030 | 781 |
| Telephone | 3,407 | 4,486 |
| Postage & Stationery | - | 35 |
| Fees & Licence | 1,039 | 1,380 |
| Travel & Accommodation | 55,261 | 31,591 |
| 130,337 | 103,328 | |
| Support costs | ||
| Governance costs | ||
| Bank Charges | 510 | 672 |
| Other Professional fees | 5,000 | 85 |
| Equipment Expensed | 7,298 | 2,833 |
| Office & General Expenses | 8,926 | 8,223 |
| Accountancy and legal fees | 1,800 | 1,800 |
| Plant and machinery | 4,990 | 4,990 |
| Fixtures and fittings | 800 | 800 |
| 29,324 | 19,403 |
This page does not form part of the statutory financial statements
Page 12
BETHSHAN FOUNDATION LTD
Detailed Statement of Financial Activities for the Year Ended 31 May 2024
| Detailed Statement of Financial Activities for the Year Ended 31 May 2024 |
||
|---|---|---|
| 31.5.24 | 31.5.23 | |
| £ | £ | |
| Total resources expended | 357,281 | 434,372 |
| Net income | 37,906 | 106,568 |
This page does not form part of the statutory financial statements
Page 13