GOSPEL FIRE INTERNATIONAL (A company limited by guarantee)
Report and Financial Statements For the Year Ended 31 December 2021
Charity number 1190408 Registered Date: 14 July 2020
Contents
| Contents | |
|---|---|
| Reference and ministrative information | 3 |
| Structure, Governance and Management | 5 |
| Report of the years activities | 7 |
| Financial Review | 7 |
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Gospel Fire International Report and Financial Statements for the Year Ended 31 December 2021
The board of trustees presents its report and financial statements for the year ended 31 December 2021.
Reference and ministrative information
Charity name: Gospel Fire International
Charity registration number: 1190408 Registered address: 15 Seabrook Avenue, Exeter, Devon, EX2 7DW
Board of trustees
Mrs Miriam Diment Chair Mr Joshua Rex Vice Chair Mrs Rebekka Franz Trustee
Our Aims and objectives
Purposes and Aims
Our charity’s purposes as set out in the objects contained in the company’s memorandum of association are to:
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[to advance the christian faith; ]
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[to relieve persons who are in conditions of need or hardship or who are aged or ] sick and to relieve the distress caused thereby;
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[to advance education in accordance with christian principles; and ]
in Kenya and such other parts of the world as the trustees may from time to time think fit.
Ensuring our work delivers our aims
We review our aims, objectives and activities each year. This review looks at what we achieved and the outcomes of our work in the previous 12 months. The review looks at
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the success of each key activity and the benefits they have brought to those groups of people we are set up to help. The review also helps us ensure our aim, objectives and activities remained focused on our stated purposes. We have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing our aim and objectives and in planning our future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives they have set.
The focus of our work
The main focus of our work this year has been to establish the charity and begin to raise funds so that we can carry out the work stated in our aims and objectives.
How our activities deliver public beneft
As the charity is in its infancy we are focusing on raising funds and establishing it so that we can benefit the public.
The charities objects and funding focus the charities work to benefit the people Kenya and the surrounding areas by providing opportunities for biblical teaching and prayer it will enhance the moral and ethical framework of the communities in which it works. Many of its activities will relieve the needs of both individuals and whole communities, for example, by providing much-needed facilities and by facilitating access to health-care and / or educational opportunities for those who might not otherwise being able to access them.
The charity's activities will benefit a sufficient section of the public and provide equal access as most of the work will be open to all individuals within a given community.
When beneficiaries are selected according to need, any private benefit will be heavily outweighed by the knock-on benefits to the wider community (of a healthier and more well educated community).
Who used and benefted from our services?
As the charity is in its infancy we are focusing on raising funds and establishing it so that we can benefit the public.
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Structure, Governance and Management
Governing Document
The organisation is a charitable Charitable Incorporated Organisation, incorporated on 14 July 2020 and registered as a charity at the same time on 14 July 2020. The CIO was established under a Governing Document which established the objects and powers of the CIO. In the event of the company being wound up members have no liability to contribute to its assets and no personal responsibility for settling its debts and liabilities.
Recruitment and Appointment of Management Committee
The charity trustees under the CIOs under the requirement of the Governing Document are elected to serve until they chose not to, or are unable to.
All member of the board of trustees give their time voluntarily and received no benefits from the charity. Any expenses reclaimed from the charity are set out in the accounts.
Trustee Induction and Training
Most trustees are already familiar with the practical work of the charity having been encouraged to come and visit the work taking place in Kenya.
Additionally trustees are all sent
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[Newsletters showcasing our latest work and projects as well as our future plans ] and objectives
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[The main documents which set out the operational framework for the charity in-] cluding the Governing Document.
Organisational Structure
Gospel Fire International UK has a board of trustees, currently consisting of 4 members who meet annually and are responsible for the direction of the charity. At present the The Chair is responsible for ensuring that the charity delivers the objects specified in the charities aims and objectives. The Vice Chair has responsibility for the day to day of the charity.
Related Parties
In so far as it is complimentary to the charity’s objects, the charity is working with ‘Gospel Fire International Kenya' who are the “hands and feet” carrying out the practical aims and objectives for Gospel Fire International.
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Responsibilities of the Management Committee
The CIO’s Governing Document requires the board of trustees to prepare financial statements for each financial year which give a true and fair view of the state of the affairs of the charitable company for the financial year.
In preparing those financial statements, the management committee should follow best practice and:
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[ select suitable accounting policies and then apply them consistently; ]
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[make judgements and estimates that are reasonable and prudent; and ]
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[ prepare the financial statements on the going concern basis unless it is not ap-] propriate to assume that the CIO will continue on that basis.
The Management Committee is responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 1985. The Management Committee is also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Members of the Management Committee
Members of the board of trustees, who served during the year and up to the date of this report are set out under the Board of trustees heading on page 3 and as a board of trustees, we certify that:
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[so far as we are aware, there is no relevant audit information of which the com-] pany’s auditors are unaware; and
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[as the directors of the company we have taken all the steps that we ought to have ] taken in order to make ourselves aware of any relevant audit information and to establish that the charity’s auditors are aware of that information.
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Report of the years activities
During the course of the year in Kenya we came across Mwangaza school, a school that was in desperate need for school shoes. Many of the students often walked great distances, bear-foot and are turned away from class for not wearing the correct school uniform. This has become our first project and we set out to raise enough funds to purchase each one of these students some school shoes to help ease the burden of attending school.
In November we were able to raise £1,800 for this cause. Unfortunately we received these funds right at the end of the school year and were advised to donate the shoes once the new year had begun. So we fully intend to report on this in the next annual report.
Financial Review
Against the backdrop of limited resources and insecurities over funding, and volunteering work in Kenya, it has continued to be difficult to plan or develop services. Nevertheless with our first donation from Happy Feet it’s a start with a financial outcome for the period with a net increase in funds of £1,800. We will need to work much harder in the future to obtain more funding should we wish to accomplish our aims and objectives in a more meaningful way.
Principal Funding Sources
As the charity is in its infancy we have no principal funding source other than the one time gift from Happy Feet.
Plans for Future Periods
The charity plans continuing the activities outlined above in the forthcoming years with an emphasis on raising more funding.
Mr Joshua Rex
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| GOSPEL FIRE INTERNATIONAL STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31st December 2021 |
GOSPEL FIRE INTERNATIONAL STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31st December 2021 |
GOSPEL FIRE INTERNATIONAL STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31st December 2021 |
GOSPEL FIRE INTERNATIONAL STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31st December 2021 |
GOSPEL FIRE INTERNATIONAL STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31st December 2021 |
GOSPEL FIRE INTERNATIONAL STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31st December 2021 |
|---|---|---|---|---|---|
| Unrestricted Funds |
Restricted Funds |
Total Funds 2021 |
Total Funds 2020 |
||
| £ | £ | £ | £ | ||
| Income from | |||||
| Donations & Legacies | 3 | 2,543 |
- 0 |
2,543 |
1,000 |
| Total incoming resources |
2,543 | - 0 |
2,543 |
1,000 |
|
| Expenditure on | |||||
| Charitable activities | 4 | 80 |
80 | - 0 |
|
| Total expenditure | 80 | - 0 |
80 |
- 0 |
|
| Net income (expenditure) and net movement in funds for theyear |
|||||
| 2,463 | - 0 |
2,463 |
1,000 |
||
| Transfer between funds | - 0 | ||||
| Net movement in funds | 2,463 | - 0 |
2,463 |
1,000 |
|
| Reconciliation of funds | |||||
| Total funds brought for- ward |
1,000 | 1,000 | - 0 |
||
| Total funds carried forward |
3,463 | - 0 |
3,463 |
1,000 |
|
| The statement of fnancial activities includes all gains and losses recognised in the year. | |||||
| All income and expenditure derives from continuing activities. | |||||
| The notes on form part of these fnancial statements |
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| GOSPEL FIRE INTERNATIONAL BALANCE SHEET |
GOSPEL FIRE INTERNATIONAL BALANCE SHEET |
GOSPEL FIRE INTERNATIONAL BALANCE SHEET |
GOSPEL FIRE INTERNATIONAL BALANCE SHEET |
GOSPEL FIRE INTERNATIONAL BALANCE SHEET |
|---|---|---|---|---|
| 2022 | 2021 | |||
| £ | £ | |||
| Current assets | ||||
| Debtors | 8 | - 0 | - 0 | |
| Cash at bank and in hand | 3,463 | 1,000 | ||
| Total current assets | 3,463 | 1,000 | ||
| Liabilities | ||||
| Creditors falling due within one year | 9 | - 0 | - 0 | |
| Net current assets | 3,463 | 1,000 | ||
| Total assets less current liabilities | 3,463 | 1,000 | ||
| Creditors: falling due after more than 1year |
- 0 | - 0 | ||
| Provisions foe liabilities | - 0 | - 0 | ||
| Total net assets | 10 | 3,463 | 1,000 | |
| The funds of the Charity | ||||
| Restricted income funds | - 0 | - 0 | ||
| Unrestricted income funds | 11 | 3,463 | 1,000 | |
| Revaluation reserves | - 0 | - 0 | ||
| Total unrestricted funds | 3,463 | 1,000 | ||
| Total charity funds | 3,463 | 1,000 | ||
These accounts were approved by the board of trustees and authorised for issue on: 15/08/2022
J Rex - Trustee ……………………………………..
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GOSPEL FIRE INTERNATIONAL NOTES TO THE ACCOUNTS
1 Accounting Polocies
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preperation of the financial statements are as follows:
- a) Basis of Preperation
The Financial Statements have been prepared in accordance with the second edition of the Charities Statement of Recommended Practice issued in October 2019, the Financial reporting Standard applicable in the United Kingdom and Republic of Irland (FRS 102) and the Charities Act 2011.
Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
- b) Public Benefit Entity
Gospel Fire International meets the definition of a public benefit entity under FRS 102
- c) Going Concern
The Trustees consider that there are no material uncertainties about the Charity's ability to continue as agoing concern.
- d) Income Recognition Policies
Items of income are recognised and included in the accounts when all of the following criteria are met:
. The charity has entitlement to the funds;
- . Any performance conditions attached to the items of income have been met or are fully within the control of the charity;
. There is suffcient certanty that receipt of the income is considered probable; and
. The amount can be measured reliably.
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GOSPEL FIRE INTERNATIONAL NOTES TO THE ACCOUNTS
Income received in advance of a specific performance or provision of other specified service is deferred until the criteria for income recognition are met.
e) Fund Accounting
Unrestricted funds are available to spend on activities that further any of the purposes of the Charity. Designated funds are unrestricted funds of the Charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the doner has specified are to be solely used for the particular areas of the Charity's work or for specific projects being undertaken by the charity.
- f) Expenditure and Irrecoverable VAT
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.
Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
- g) Debtors
Debtors are recognised at the settlement amounts due.
h) Cash at Bank and in Hand
Cash at bank and cash in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
- i) Creditors and Provisions
Creditors and Provisions are recognised where the Charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliabily. Creditors and Provisions are normally recognised at their settlement amount.
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| GOSPEL FIRE INTERNATIONAL NOTES TO THE ACCOUNTS |
GOSPEL FIRE INTERNATIONAL NOTES TO THE ACCOUNTS |
GOSPEL FIRE INTERNATIONAL NOTES TO THE ACCOUNTS |
GOSPEL FIRE INTERNATIONAL NOTES TO THE ACCOUNTS |
GOSPEL FIRE INTERNATIONAL NOTES TO THE ACCOUNTS |
GOSPEL FIRE INTERNATIONAL NOTES TO THE ACCOUNTS |
|---|---|---|---|---|---|
| 2 | Legal Status of the Charity | ||||
| Gospel Fire International is a registered Charitable Incorporated Organisation and isgoverned byits constitution as dated 14 July2020 |
|||||
| 3 | Income from donations | 2022 £ |
2021 £ |
||
| Gifts and donations | 2,543 | 1,000 | |||
| 2,543 | 1,000 | ||||
| 4 | Analysis of expenditure on charitable activities |
2022 Total £ |
2021 Total £ |
||
| Ministry expenses | - | - | |||
| Outreach | - | - | |||
| Bank Charges | 80 | - | |||
| Travel | - | - | |||
| Insurance | - | - | |||
| Total | 4 | 80 | 0 | ||
| 5 | Net income (expenditure) for the year |
2022 | 2021 | ||
| £ | £ | ||||
| Bank Charges | 80 | ||||
| 80 | - 0 | ||||
| 6 | Related party transactions |
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| GOSPEL FIRE INTERNATIONAL NOTES TO THE ACCOUNTS |
GOSPEL FIRE INTERNATIONAL NOTES TO THE ACCOUNTS |
GOSPEL FIRE INTERNATIONAL NOTES TO THE ACCOUNTS |
GOSPEL FIRE INTERNATIONAL NOTES TO THE ACCOUNTS |
GOSPEL FIRE INTERNATIONAL NOTES TO THE ACCOUNTS |
GOSPEL FIRE INTERNATIONAL NOTES TO THE ACCOUNTS |
GOSPEL FIRE INTERNATIONAL NOTES TO THE ACCOUNTS |
|---|---|---|---|---|---|---|
| 7 | Corporation tax | |||||
| The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. |
||||||
| 8 | Debtors | 2022 | 2021 | |||
| £ | £ | |||||
| - 0 | - 0 | |||||
| - 0 | - 0 | |||||
| 9 | Creditors: amounts falling due within one year |
2022 | 2021 | |||
| £ | £ | |||||
| Accruals | - 0 | - 0 | ||||
| - 0 | - 0 | |||||
| 10 | Analysis of net as- sets between funds |
General Fund |
Desig- nated Funds |
Restricted Funds |
Total | |
| £ | £ | £ | £ | |||
| Cash at bank and in hand |
3,463 | 3,463 | ||||
| Other net current assets/(liabilities) |
- 0 | - 0 | ||||
| Total | 3,463 | - 0 |
- 0 |
3,463 |
||
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| 11 | Analysis of charitable funds |
Balance 1.1.2020 |
Incoming resources |
Resources expended |
Transfers | Funds 31.12.2021 |
|---|---|---|---|---|---|---|
| Analysis of movements in funds |
£ | £ | £ | £ | £ | |
| General fund | 1,000 | 2,543 |
(80) |
- 0 |
3,463 |
|
| Total | 1,000 | 2,543 |
(80) |
- 0 |
3,463 |
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