Victory International Church UK - The Overcomers ## Report and Accounts 31 January 2025 Companies House Registered number 13154032 Charity Commission Number 1194880 Report and accounts Contents **----- Start of picture text -----**
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Company information 3
Directors' report 4
Accountants' report 5
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## Victory International Church UK - The Overcomers |Profit and loss account|6| |---|---| |Balance sheet|7| |Statement of changes in equity|8| |Notes to the accounts|9| Victory International Church UK - The Overcomers Company Information Directors Sunday Oludare Arowojobe Omolara Oyeronke Fadoju Guehita Amen Okunbor Pastor Michael Tunde Accountants Fabek Associates and Co Ltd 32 Dewey Road Dagenham Essex RM10 8AR Registered office 77 Coburg Road London N22 6UB Registered number 13154032 1 Victory International Church UK - The Overcomers Registered number: 13154032 Directors' Report The directors present their report and accounts for the year ended 31 January 2025. ## Principal activities We have an open-door policy and we deliberately invite as many people as possible in the community to become part of our parish. We proactively encourage members of the community in our immediate environment to visit and experience any of our services. We also extend invitations by advertisements and other means to invite people from the larger community to avail themselves of our offerings. Our services are designed to make every visit a pleasant experience and thereby create an environment where attendees will practice their faith through the learning of the scriptures, worship with music and rendering of prayers. Whilst we throw our doors open to every member of the public in congruence with Charity Commission’s guidance on public benefit, we have also designed inclusive programmes, whereby members of the community are encouraged to visit and have access to pastoral care. They are also able to take advantage of the opportunities provided to develop their faith in Jesus Christ. ## Our commitment to our community At Victory International Church, we are committed to responding to the Spiritual and Holistic wellbeing of our community. In furtherance of this, our programmes are designed to address crucial aspects of everyday life. Our vision is to be a beacon of hope and solutions to the challenges faced by society, hence our programmes are designed to uplift and empower members of the community. ## Achievement and Performances At the Overcomers parish, we offer a range of services during the week and hold special services in the course of the year. JANUARY : We hold special services everyday in the month of January when members are engaged in fasting and prayers during the day, but congregate in the evenings to pray together and share foods at the conclusion of the service. APRIL: A three-day activity for men only. During this programme, issues concerning marriage and skill developments are discussed. Resource persons like financial consultants, medical practitioners and skill advisers are invited to teach on varying subjects. It also involves bible teaching and prayers. AUGUST: This event is targeted at the London community in general. The four days of activities include general evangelism and carnival like music events. Themed London Power Summit, the programme attracts attendance from cities outside of London and beyond. SEPTEMBER: These activities covering three days is specifically designed for women in the community. Issues concerning marriage, motherhood and women in general are discussed. Resource persons who may add spiritual and other values to the meetings are specially invited. OCTOBER: An annual event themed, Youth Hub is organised by the youths. They design creative concept to attract other youths in the community and encourage their peers on moral and faith issues. Registered number: 13154032 Directors' Report Food bank 2 ## Victory International Church UK - The Overcomers Every other Saturday, members of the community, as directed by the local Job Centre attend the church property to collect ready packed uncooked food items and other household items. The resources for this community targeted programme are generously provided by members through regular donations. We use this opportunity to appreciate all those involved. Going forward, it is being contemplated to employ few hands to support the existing volunteers to ease the logistics of this programme. ## Reserve Policy Our current address is leased from Haringey Council and there are already suggestions that the lease may be ended before even the expiration of the recently renewed five-year term. Our objective is to save as much resources as possible to be used as a deposit to purchase a property for the use of the Charity. ## Administration The year in review has been eventful and impactful. We have made progress in our strategic objectives and we plan to do much more especially in the areas of community engagements. ## Small company provisions This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime. This report was approved by the board on 14 March 2025 and signed by its order. Pastor Michael Tunde Director Accountants' Report ## Accountants' report to the directors of Victory International Church UK - The Overcomers We have examined the financial statements of the Victory International Church UK, The Overcomers (the charity) for the year ended 31 January 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and the related notes, including a summary of significant accounting policies, the financial reporting framework that has been applied in their preparation, its applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 - ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ (United Kingdom Generally Accepted Accounting Practice). The financial statements have been prepared in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn. 3 Victory International Church UK - The Overcomers This has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015. In our opinion the financial statements: - Give a true and fair view of the state of the charity’s affairs as at 31 January 2025 and of its incoming resources and application of resources for the year ended; - Have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and - Have been prepared in accordance with the requirements of the Charities Act 2011. This report is made solely to the charity’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our examination of the accounts has been undertaken so that we might state to the charity’s trustees those matters we are required to state to them in an examiner’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and its trustees, as a body, for the independent examination work, or for the opinions we have formed. ## Adekunle Fawunmi ## Adekunle Fawunmi Fabek Associates and Co Ltd Chartered Certified Accountants 32 Dewey Road Dagenham Essex RM10 8AR ## 14 March 2025 Detailed Income and Expenditure Account for the year ended 31 January 2025 |Incoming Resources
Donations
Charitable expenditures
Operating surplus
surplus before taxation
Tax on surplus
Profit for the financial year||2025
£
81,991
(67,238)
14,753
14,753
-||2024
£
61,634
(57,832)
3,802
3,802
-| |---|---|---|---|---| |||||| |||||| 4 Victory International Church UK - The Overcomers Registered number: 13154032 Balance Sheet as at 31 January 2025 |Notes
Fixed assets
Tangible assets
Current assets
3
Cash at bank and in hand
Creditors: amounts falling due
70,063
within one year
4
(1,200)
Net current assets
Net assets
Capital and reserves
Profit and loss account
Shareholders' funds|2025
£
14,188
62,618
(1,500)
83,051|2024
£
7,180
68,298| |---|---|---| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. The members have not required the company to obtain an audit in accordance with section 476 of the Act. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. Pastor Michael Oluwaseyi Tunde Director Approved by the board on 14 March 2025 5 Victory International Church UK - The Overcomers Statement of Changes in Equity for the year ended 31 January 2025 |At 31 January 2025
At 1 February 2023
Surplus for the financial year
At 31 January 2024
At 1 February 2024
Profit for the financial year|Share
capital
£
-
-|Share
premium
£
-
-|Re-
valuation
reserve
£
-
-|Profit
and loss
account
£
64,496
3,802
68,298
14,753|Total
£
64,496
3,802
68,298
14,753| |---|---|---|---|---|---| 6 Victory International Church UK - The Overcomers Notes to the Accounts for the year ended 31 January 2025 ## 1 Accounting policies ## Basis of preparation The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). ## Turnover Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Tangible fixed assets - 2 Employees 2025 2024 Number Number 7 ## Victory International Church UK - The Overcomers Average number of persons employed by the company 0 0 Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: Freehold buildings over 50 years Leasehold land and buildings over the lease term Plant and machinery over 5 years Fixtures, fittings, tools and equipment over 5 years Debtors Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. ## Creditors Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. Provisions Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. ## Notes to the Accounts for the year ended 31 January 2025 ## 3 Tangible fixed assets |3
Tangible fixed assets||||| |---|---|---|---|---| |At 31 January2024
4
Creditors: amounts falling due
Cost
At 1 February 2024
Additions
At 31 January 2025
Depreciation
At 1 February 2024
Charge for the year
At 31 January 2025
Net book value
At 31 January 2025|within one year|Plant and
machinery
etc
£
10,527
9,945
20,472
4,243
2,489
6,732
13,740|2025
2024
Motor vehicles
Total
£
£
2,240
12,767
-
9,945
22,712
1,344
5,587
448
2,937
1,792
8,524
448
14,188|| |||||| |||||2024| 4 Creditors: amounts falling due within one year 8 Victory International Church UK - The Overcomers £ 1,200 1,500 Other creditors - 6 Contingent Liaibility There is a contingent liability of about £48,000 in respect of business rate and £44,000 electricity bill which the charity is disputing. An appeal has been lodged and the outcome is being awaited. ## 5 Other information Victory International Church UK - The Overcomers is a private company limited by guarantee and incorporated in England. Its registered office is: 77 Coburg Road London N22 6UB ## Detailed Income and Expenditure Account for the year ended 31 January 2025 This schedule does not form part of the statutory accounts |London
N22 6UB
Detailed Income and Expenditure Account for the
year ended 31 January 2025
This schedule does not form part of the statutory accounts||| |---|---|---| |Donations
Charitable expenditure
Operating surplus
Surplus before tax|2025
£
81,991
(67,238)
14,753|2024
£
61,634
(57,832)| |||3,802| |||| |||| 9 ## Victory International Church UK - The Overcomers Detailed Income and Expenditure Account for the year ended 31 January 2025 This schedule does not form part of the statutory accounts |Incoming Resources
Donations
Charitable Expenditures Employee
costs:
Wages and salaries
Temporary staff and recruitment
Staff training and welfare
Travel and subsistence
Motor expenses
Premises costs:
Rent
Rates
Service charges
Light and heat
Cleaning
General administrative expenses:
Telephone and internet
Postage
Stationery and printing
Charitable activities and Communion Materials
Subscriptions
Insurance
Software - zoom
Repairs and maintenance
Depreciation
Transfer to Reserves
Sundry expenses
Legal and professional costs:
Audit fees
Accountancy fees
Advertising and PR|2025
£
81,991
-
-
40
8,198
1,240
14,786
-
-
1,111
17
15,914
774
138
-
21,057
286
792
192
740
2,937
11,300
217
38,433
-
1,200
2,213|2024
£
61,634
4,267
5,933
170
5,378
-
9,478
12,608
200
500
1,520
-
14,828
556
390
1,786
17,053
-
2,380
187
140
1,942
-
-
24,434
1,000
600
-| |---|---|---| - Other legal and professional 10