GOSPEL FIRE INTERNATIONAL (A company limited by guarantee)
Report and Financial Statements For the Year Ended 31 December 2023
Charity number 1190408 Registered Date: 14 July 2020
Contents
| Reference and ministrative information | 3 |
|---|---|
| Structure, Governance and Management | 5 |
| Report of the years activities | 7 |
| Financial Review | 7 |
Gospel Fire International Report and Financial Statements for the Year Ended 31 December 2023
The board of trustees presents its report and financial statements for the year ended 31 December 2023
Reference and ministrative information
Charity name:
Gospel Fire International
Charity registration number:
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 Mr Tim Davies Treasurer 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:
-
to advance the Christian faith;
-
to relieve persons who are in conditions of need or hardship or who are aged or sick and to relieve the distress caused thereby;
-
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
3
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 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
One of the main focuses of our work this year has been to continue to establish the charity and begin to raise funds so that we can carry out the work stated in our aims and objectives. While we are continuing to the raise funds and awareness of our charity, we are day to day also continuing to work along side GFI Kenya and partner with them offering hands on support to the work they are doing in Kenya.
How our activities deliver public benefit
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 benefited from our services?
In 2023, our activities were limited, and we did not actively engage in projects or utilize the funds received. However, we are committed to expanding our outreach and services in 2024, and we look forward to making a meaningful impact in the coming year.
4
Structure, Governance and Management
Governing Document
The organisation is a 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
While no formal trustee induction or training sessions were held in 2023, most trustees are already well-acquainted with the practical work of the charity, having been encouraged to visit our projects in Kenya.
Additionally trustees are all sent
-
Newsletters showcasing our latest work and projects as well as our future plans and objectives
-
The main documents which set out the operational framework for the charity including the Governing Document.
-
The current financial position and latest published accounts.
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.
5
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.
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:
-
select suitable accounting policies and then apply them consistently;
-
make judgements and estimates that are reasonable and prudent;
-
prepare the financial statements on the going concern basis unless it is not appropriate 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:
-
so far as we are aware, there is no relevant audit information of which the company’s auditors are unaware; and
-
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.
6
Report of the years activities
While Gospel Fire International (GFI) UK did not carry out any direct activities in 2023, our corresponding charities registered in Germany, Switzerland, and Kenya were actively working to fulfill the overall goals of the organization. These international branches have been instrumental in advancing our mission, and GFI UK is aiming to play a more significant and active role in these efforts in the coming year.
We were also pleased to have Miriam Dimmet, the Chairperson of GFI UK, along with her family, come out and visit Kenya to take part in the work. Notably, they participated in a large outreach to Kakuma, Kenya’s second-largest refugee camp, as part of a monthlong initiative. This outreach provided vital support to the refugee community, exemplifying our commitment to extending hope and help to those in need.
Financial Review
In 2023, GFI UK did not allocate funds directly to projects. However, our corresponding charities in Germany, Switzerland, and Kenya utilized resources to further our shared mission. As GFI UK prepares to become a key player in the charity’s future activities, we will work toward a more proactive financial role in supporting the projects that align with our objectives in 2024 and beyond.
Principal Funding Sources
We have no principal funding source. We have received the odd donation towards our work but nothing regular as of yet. This is something as charity we hope to increase and see a rise in over the next year as we seek to raise awareness of our charity. We are looking into ways of raising our profile in the UK to gain regular financial support to be able to move forward with the work in Kenya.
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
7
GOSPEL FIRE INTERNATIONAL STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31st December 2021
| GOSPEL FIRE INTERNATIONAL STATEMENT OF FINANCIAL ACTIVITIES for theyear ended 31st December 2021 |
GOSPEL FIRE INTERNATIONAL STATEMENT OF FINANCIAL ACTIVITIES for theyear ended 31st December 2021 |
GOSPEL FIRE INTERNATIONAL STATEMENT OF FINANCIAL ACTIVITIES for theyear ended 31st December 2021 |
GOSPEL FIRE INTERNATIONAL STATEMENT OF FINANCIAL ACTIVITIES for theyear ended 31st December 2021 |
GOSPEL FIRE INTERNATIONAL STATEMENT OF FINANCIAL ACTIVITIES for theyear ended 31st December 2021 |
GOSPEL FIRE INTERNATIONAL STATEMENT OF FINANCIAL ACTIVITIES for theyear ended 31st December 2021 |
|---|---|---|---|---|---|
| Unrestricted Funds |
Restricted Funds |
Total Funds 2023 |
Total Funds 2022 |
||
| £ | £ | £ | £ | ||
| Income from | |||||
| Donations & Legacies | 3 | 16,952 |
- 0 |
16,952 |
12,538 |
| Bank Interest | 34 | ||||
| Total incoming resources | 16,986 | - 0 |
16,986 |
12,538 |
|
| Expenditure on | |||||
| Charitable activities | 4 | 15,000 |
15,000 | 81 |
|
| Bank Charges | 85 | 85 | |||
| Total expenditure | 15,085 | - 0 |
15,085 |
81 |
|
| Net income (expenditure) and net movement in funds for theyear |
|||||
| 1,901 | - 0 |
1,901 | 12,464 |
||
| Transfer between funds | - 0 | ||||
| Net movement in funds | 1,901 | - 0 |
1,901 | 12,464 |
|
| The statement of financial 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 financial statements |
8
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 |
GOSPEL FIRE INTERNATIONAL BALANCE SHEET |
|---|---|---|---|---|
| 2023 | 2022 | |||
| £ | £ | |||
| Current assets | ||||
| Debtors | 8 | - 0 | - 0 | |
| Cash at bank and in hand | 17,819 | 15,916 | ||
| Total current assets | 17,819 | 15,916 | ||
| Liabilities | ||||
| Creditors falling due within one year | 9 | - 0 | - 0 | |
| Net current assets | 17,819 | 15,916 | ||
| Total assets less current liabilities | 17,819 | 15,916 | ||
| Creditors: falling due after more than 1year |
- 0 | - 0 | ||
| Provisions for liabilities | - 0 | - 0 | ||
| Total net assets | 10 | 17,819 | 15,916 | |
| The funds of the Charity | ||||
| Restricted income funds | - 0 | - 0 | ||
| Unrestricted income funds | 11 | 17,819 | 15,916 | |
| Revaluation reserves | - 0 | - 0 | ||
| Total unrestricted funds | 17,819 | 15,916 | ||
9
These accounts were approved by the board of trustees and authorised for issue on: 31/10/2024
J Rex - Trustee ……………………………………..
The notes form part of these financial statements
10
1 Accounting Policies
1
GOSPEL FIRE INTERNATIONAL NOTES TO THE ACCOUNTS
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:
a) Basis of Preparation
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 Ireland (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 ongoing concern.
d) Income Recognition Policies
12
GOSPEL FIRE INTERNATIONAL NOTES TO THE ACCOUNTS
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 sufficient certainty that receipt of the income is considered probable; and
-
. The amount can be measured reliably.
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.
13
GOSPEL FIRE INTERNATIONAL NOTES TO THE ACCOUNTS
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 reliably. Creditors and Provisions are normally recognised at their settlement amount.
14
GOSPEL FIRE INTERNATIONAL NOTES TO THE ACCOUNTS
-
2 Legal Status of the Charity
-
Gospel Fire International is a registered Charitable Incorporated Organisation and is governed by its constitution as dated 14/07/2020
| 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 |
|---|---|---|---|---|---|---|
| 2 | Legal Status of the Charity | |||||
| Gospel Fire International is a registered Charitable Incorporated Organisation and is governed by its constitution as dated14/07/2020 |
||||||
| 3 | Income from donations | 2023 | 2022 | |||
| £ | £ | |||||
| Gifts and donations | 16,952 | 12,538 | ||||
| Bank Interest | 34 | 7 | ||||
| 16,986 | 12,545 | |||||
| 4 | Analysis of expenditure on charitable activities |
2023 Total | 2022 Total | |||
| £ | £ | |||||
| Ministry expenses | ||||||
| Outreach | ||||||
| Bank Charges | 85 | 81 | ||||
| Travel | ||||||
| Insurance | ||||||
| Total | 85 | 81 | ||||
15
GOSPEL FIRE INTERNATIONAL NOTES TO THE ACCOUNTS
6 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.
| 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 |
|---|---|---|---|---|---|---|
| 6 | 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. |
||||||
| 7 | Debtors | 2023 | 2022 | |||
| £ | £ | |||||
| - 0 | - 0 | |||||
| - 0 | - 0 | |||||
| 8 | Creditors: amounts falling due within one year |
2023 | 2022 | |||
| £ | £ | |||||
| Accruals | - 0 | - 0 | ||||
| - 0 | - 0 | |||||
| 9 | Analysis of net assets between funds |
General Fund |
Designated Funds |
Restricted Funds |
Total | |
| £ | £ | £ | £ | |||
| Cash at bank and in hand |
17,8 19 |
17,8 19 |
||||
| Other net current assets/(liabilities) |
- 0 | - 0 | ||||
16
| Total | 17,8 19 |
- 0 |
- 0 |
17,8 19 |
||
|---|---|---|---|---|---|---|
| 10 | Analysis of charitable funds |
Balance | Incoming resources |
Resources expended |
Transfers | Funds |
| 1.1.2023 | 31.12.2023 | |||||
| Analysis of movements in funds |
£ | £ | £ | £ | £ | |
| General fund | 15,9 18 |
16,9 86 |
(15,0 85) |
- 0 | 17,8 19 |
|
| Total | 15,9 18 |
16,9 86 |
(15,0 85) |
- 0 | 17,8 19 |
|
17
GOSPEL FIRE INTERNATIONAL
(A company limited by guarantee)
Report and Financial Statements
For the Year Ended 31 December 2023
Charity number 1190408
Registered Date: 14 July 2020
GOSPEL FIRE INTERNATIONAL
STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31st December 2023
| Income from Donations & Legacies 3 Bank Intrest Total incoming resources Expenditure on Charitable activities 4 Bank Charges Total expenditure Transfer between funds Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward Net income (expenditure) and net movement in funds for the |
£ £ £ £ 16,952 - 16,952 12,538 34 34 7 Unrestricted Funds Restricted Funds Total Funds 2023 Total Funds 2022 |
|---|---|
| 16,986 - 16,986 12,545 |
|
| 15,000 15,000 81 85 85 |
|
| 15,085 - 15,085 81 |
|
| 1,901 - 1,901 12,464 |
|
| 1,901 - 1,901 12,464 15,918 15,918 3,455 |
|
| 17,819 - 17,819 15,918 |
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derives from continuing activities.
The notes on pages 3 to 5 form paart of these financial statements
GOSPEL FIRE INTERNATIONAL
BALANCE SHEET
for the year ended 31st December 2023
| Current assets Debtors 8 Cash at bank and in hand Total current assets Liabilities Creditors falling due within one year 9 Net current assets Total assets less current liabilities Creditors: falling due after more than 1 year Provisions foe liabilities Total net assets 10 The funds of the Charity Restricted income funds Unrestricted income funds 11 Revaluation reserves Total unrestricted funds Total charity funds |
2023 £ - 17,819 17,819 - 17,819 17,819 - - 17,819 - 17,819 - 17,819 17,819 |
2022 £ - 15,918 |
|---|---|---|
| 15,918 - |
||
| 15,918 | ||
| 15,918 - - |
||
| 15,918 | ||
| - | ||
| 15,918 - |
||
| 15,918 | ||
| 15,918 |
These accounts were approved by the board of trustees and autherised for issue on:…......................................... 2023 and are signed on their behalf by:
…...........................................................
The notes on pages 3 to 5 form paart of these financial statements
GOSPEL FIRE INTERNATIONAL
NOTES TO THE ACCOUNTS
for the year ended 31st December 2023
- 1 Accounting Polocies
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preperation of the financial statements are as
- 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
Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting
- 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.
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
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
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
GOSPEL FIRE INTERNATIONAL
NOTES TO THE ACCOUNTS
for the year ended 31st December 2023
- 2 Legal Status of the Charity
Gospel Fire International is a registered Charitable Incorporated Organisation and is governed by its constitution as dated …......................
| 3 Income from donations Gifts and donations Bank Intrest 4 Analysis of expenditure on charitable activities Ministry expenses Outreach Bank Charges Travel Insurance Total 5 Net income (expenditure) for the year Bank Charges |
2023 £ 16,952 34 16,986 2023 Total £ 15,000 85 15085 2023 £ 85 |
2022 £ - - |
|---|---|---|
| - | ||
| 2022 Total £ 81 |
||
| 81 | ||
| 2022 £ 81 |
||
| 85 | 81 |
GOSPEL FIRE INTERNATIONAL
NOTES TO THE ACCOUNTS
for the year ended 31st December 2023
- 6 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.
| 7 Debtors 8 Creditors: amounts falling due within one year Accruals 9 Analysis of net assets between funds Cash at bank and in hand Other net current assets/(liabilities) Total 10 Analysis of charitable funds Analysis of movements in funds General fund Total |
£ 17,819 - 17,819 Balance 01/01/2023 £ £ 15,918 16,986 Incoming resources General Fund |
£ 17,819 - General Fund |
2023 £ - - 2023 £ - - £ £ Designated Funds Restricted Funds |
2022 £ - |
|---|---|---|---|---|
| - | ||||
| 2022 £ - |
||||
| - | ||||
| £ 17,819 - Total |
||||
| 17,819 | - - |
17,819 | ||
| £ £ (15,085) - Resources expended Transfers |
Funds 31/12/2023 £ 17,819 |
|||
| 15,918 16,986 |
(15,085) - |
17,819 |