Registered Charity Number: 1191712
RESTORATION LIFE MINISTRIES FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
Prepared By:
SF Accountant Limited
The Generator Business Centre Unit 20, 95 Miles Road, Mitcham, Surrey CR4 3FH
RESTORATION LIFE MINISTRIES Financial Statements for the year ended 31 MARCH 2024
INFORMATION OF THE FINANCIAL STATEMENTS
MANAGEMENT COMMITTEE
Chairman Pastor Deborah Asikpo-Okon
Trustees: Pastor Eta Peter Neji Pastor Deborah Asikpo-Okon Pastor Asikpo Asikpo-okon Address : Shephall Community Centre Shephall Green Stevenage Hertfordshire SG2 9XR Banker: Lloyds Bank Plc.
Independent Examiner:
SF Accountant Limited
The Generator Business Centre Unit 20, 95 Miles Road, Mitcham, Surrey CR4 3FH
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RESTORATION LIFE MINISTRIES
Financial Statements for the year ended 31 MARCH 2024
| CONTENTS | Page |
|---|---|
| Report of the Executive Committee | 4 |
| Statement of responsibilities of the Committee | 5 |
| Independent Examiner's Report | 6 |
| Income and Expenditure Accounts | 8 |
| Statement of Assets and Liabilities | 9 |
| Notes to the Accounts | 10 |
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RESTORATION LIFE MINISTRIES
Financial Statements for the year ended 31 MARCH 2024
REPORT OF THE EXECUTIVE COMMITTEE FOR THE YEAR ENDED 31[st] March 2024
The Executive Committee has the pleasure in presenting their report and the Financial Statements reviewed by the independent examiner for the year ended 31[st] March 2024.
GOVERNING
The organisation is managed by Executive Committee according to the organisation's constitution, elected by the general members to oversee the overall activities and to monitor the day to day running of the organisation.
OBJECTIVE OF RESTORATION LIFE MINISTRIES
The main objectives of the organisation are as follows:
THE OBJECTS OF THE CHURCH ARE FOR THE BENEFIT OF THE PUBLIC OF UK AND OVERSEAS: A). TO ADVANCE THE CHRISTIAN FAITH (IN ACCORDANCE WITH THE STATEMENTS OF BELIEF APPEARING IN THE SCHEDULE) THROUGH HAVING A PLACE FOR WORSHIP AND GATHERING FOR WORSHIP AND THE HOLDING OF PRAYER MEETINGS, LECTURES, PUBLIC CELEBRATION OF CHRISTIAN FESTIVALS, PRODUCING AND/OR DISTRIBUTING LITERATURE TO ENLIGHTEN OTHERS ABOUT GOD AND THE CHURCH OF JESUS CHRIST AND THROUGH THE PROVISION OF PRAYER, SPIRITUAL COUNSELLING AND SUPPORT AND TO PROVIDE FINANCIAL SUPPORT TO OTHER MINISTRIES WHO ARE FURTHERING THE GOSPEL OF JESUS CHRIST AS THE TRUSTEES DEEM FIT.
THE MANAGEMENT COMMITTEE
The Management committee who serve the Charity during the year were as follows:
Trustees: Pastor Eta Peter Neji Pastor Deborah Asikpo-Okon Pastor Asikpo Asikpo-okon
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RESTORATION LIFE MINISTRIES Financial Statements for the year ended 31 MARCH 2024
STATEMENTS OF RESPONSIBILITIES OF THE EXECUTIVE COMMITTEE
Law applicable to charities in England & Wales requires the Committee to prepare financial statements for each financial year that give a true and fair view of the charity's financial activities during the year of its financial position at the end of the year which is 12 months. In preparing those financial statements, the Committee is required to:
1. Select suitable accounting policies and apply them consistently;
2. Make judgments and estimates that are reasonable and prudent;
3. State whether applicable accounting standards and statements of recommended practice have been followed, subject to any departures disclosed and explained in the financial statements;
4. Prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The Executive Committee is responsible for keeping accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements Comply with the Charities Act 1993. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
INDEPENDENT EXAMINER
According to the provisions of the Charities Act 1993, the Committee has agreed that an audit is not required for this financial year. However, due to provisions of the same act an independent examiner is required.
SF Accountant Limited will be appointed as an independent examiner for the ensuing year.
APPROVAL
This report was approved by the Executive Committee on 23/01/2025 and signed on their behalf
Pastor Deborah Asikpo-Okon
(Chairman)
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RESTORATION LIFE MINISTRIES
Financial Statements for the year ended 31 MARCH 2024
INDEPENDENT EXAMINER'S REPORT ON THE UNAUDITED FINANCIAL STATEMENTS TO THE EXECUTIVE COMMITTEE OF RESTORATION LIFE MINISTRIES
Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts in accordance with the Charities Act 2011 (“the Act”). The charity’s trustees consider that an audit is not required for this year under section 144 of the Act and that an independent examination is needed .
It is my responsibility to:
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examine the accounts under section 145 of the Charities Act,
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to follow the applicable Directions given by the Charity Commission (under section 145(5)(b) of the Act, and
to state whether particular matters have come to my attention
Basis of independent examiner’s statement
My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. 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 and the report is limited to those matters set out in the statement below.
Basis of independent examiner’s statement
My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. 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 and the report is limited to those matters set out in the statement below.
Independent examiner's statement
In connection with my examination, no material matters have come to my attention which gives me cause to believe that in, any material respect:
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the accounting records were not kept in accordance with section 130 of the
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Charities Act; or
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the accounts did not accord with the accounting records; or
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RESTORATION LIFE MINISTRIES
Financial Statements for the year ended 31 MARCH 2024
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the accounts did not comply with the applicable requirements concerning the form
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and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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I have no concerns and have come across no other matters in connection with the
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examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
……………………………………………….
SF Accountant Limited
The Generator Business Centre
Unit 20, 95 Miles Road, Mitcham, Surrey CR4 3FH Dated: 23/01/2025
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RESTORATION LIFE MINISTRIES
Financial Statements for the year ended 31 MARCH 2024
INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31[st] March 2024
| Receipts Un-restricted £ Restricted £ Donation received 34,624 Total 34,624 - Less: Payments Donation to others - - Rent 995 - Volunteer costs - - Telephone 91 - Stationery 62 - Sundry 29,021 Travel 15 - Accountancy 360 - Total 30,544 Excess of Income over Expenditure (deficit) 4,080 - |
Total £ 34,624 34,624 - 995 - 91 62 29,021 15 360 30,544 4,080 |
2023 £ 24,956 24,956 - - - - - 11,102 - - 11,102 13,853 |
|---|---|---|
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Financial Statements for the year ended 31 MARCH 2024
RESTORATION LIFE MINISTRIES
STATEMENT OF ASSETS AND LIABILITIES AS AT 31[st] March 2024
| NOTE Fixed Assets Tangible assets Current Assets Cash at Bank (Current account) 5 Prepayment Current Liabilities Amount failing due within one year Net Current Assets / (Liabilities) Net Assets Funds: Reserve B/FWD Surplus/deficit Total Funds |
2024 2023 £££ £££ 3,123 3,123 15,171 15,041 - - (360) (4,310) 17,93413,854 13,854 13,854 4,080 - 17,934 13,854 |
|---|---|
| Pastor Deborah Asikpo-Okon | Pastor Asikpo Asikpo-okon |
|---|---|
| (Chairman) | (Trustee) |
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RESTORATION LIFE MINISTRIES
Financial Statements for the year ended 31 MARCH 2024
FOR THE YEAR ENDED 31[st] March 2024 NOTES TO THE ACCOUNTS
1. ACCOUNTING POLICIES
The financial statements have been compiled in accordance with the general directions given
by the Charity Commission and with the Statements of recommended Practice.
a. Basis of Accounting
The accounts have been prepared under the historical cost convention of accounting.
b. Grants
Revenue grants are credited to the Income and Expenditure account on a receivable basis.
c. Donations
Donations are recorded on a receipt basis.
d. Depreciation
No Depreciation to be charged on Fixtures and Fittings and Building Construction.
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