BETHEL MINISTRIES UK
TRUSTEE'S REPORT AND FINANCIAL STATEMENTS FOR THE PERIOD ENDING 31ST DECEMBER 2022
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31ST DECEMBER 2022
BETHEL MINISTRIES UK
| CONTENTS | PAGE |
|---|---|
| Reference and administrative details | 2. |
| Trustees report | 3 - 6 |
| Independent Examiner's report | 7. |
| Statement of Income & Expenditure | 8. |
| Balance sheet | 9. |
| Notes to the accounts | 10 - 12 |
Page 1
BETHEL MINISTRIES UK
ORGANISATION'S INFORMATION
FOR THE PERIOD ENDED 31ST DECEMBER 2022
| Trustees | Dr Osarugue Adeyemi |
|---|---|
| Mr Olawafemi Mustafa | |
| Mr Olayemi Alafifuni | |
| Mrs Kehinde Ojewunmi | |
| Minister in Charge | Pastor Adewale Adeyemi |
| Principal Office | 28 Orchard Way |
| Snodland | |
| Kent | |
| ME6 5EW | |
| Independent Examiner | Akintayo Ojo FCCA |
| Resource Accountancy Practice | |
| 46 Hollywood Way | |
| Erith | |
| DA8 2QE | |
| Bankers | Barclays Bank PLC |
| Maidstone Branch | |
| 13 Fremlin Walk | |
| Maidstone | |
| ME14 1QG |
Page 2
BETHEL MINISTRIES UK
TRUSTEE'S REPORT
FOR THE PERIOD ENDED 31ST DECEMBER 2022
The trustees submit their report and financial statement for Bethel Ministries UK (The Charity) for the period ended 31 December 2022. The trustees confirm that the trustees' report and financial comply with the current statutory requirements and the provisions of the regulators.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Bethel Ministries UK started services in 1 January 2020 and was later constituted under a Trust Deed dated 21 August 2021. It was registered by the Charity commission on 2 September 2021. A board of trustees comprising of 4 members provides strategic leadership for the charity, while Pastor in Charge manages the day to day activities of the charity.
POLICIES ADOPTED FOR THE INDUCTION AND TRAINING OF NEW TRUSTEES
The induction process for a newly appointed trustees comprises of an initial meeting with the chair and other trustees, followed by short meetings with the Pastor in Charge on the powers and responsibilities of the trustees.
ORGANISATIONAL STRUCTURE AND DECISION MAKING
The trustees meet regularly to manage the affairs of the organisation. The Minister in Charge oversee the spiritual activities of the church.
WORKING NAMES
Bethel Ministries UK also trade under the name Bethel Kingdom Church
RISK MANAGEMENT
The Trustees have assessed the major risks to which the charity is exposed, in particular those related to operations and finances of the charity, and are satisfied that systems are in place to mitigate our exposures to major risks.
OBJECTIVES AND ACTIVITIES
The principal object is the advancement of Christian faith in accordance with the statement of beliefs of the evangelical faith, and the relief of poverty. To achieve its objectives, the church adopted the following strategies:
Running Christian religious activities comprising of Sunday Services and midweek bible study, Organising community developments programmes,
Welfare, helps, training and development programmes for individuals, Supporting other charities and Christian events, and
Convening gathering of Christian tagged Inter-Denominational Christian Gathering.
Page 3
BETHEL MINISTRIES UK
TRUSTEE'S REPORT
FOR THE PERIOD ENDED 31ST DECEMBER 2022
PUBLIC BENEFITS
The Church's Sunday and mid-week services are open to the general public to build on their Christian faith. Apart from its Church activities, the charity was involved in the following public benefit efforts:
-
Organising seminars, training programmes and events that encouraged capacity and self development of members of the community
-
Holding outreaches in areas of interest to our community. In the year we shared the joy of Christmas with our community by organising a Carol service, we also celebrated the Mothers' We gave gifts, provide support and share the message of goodwill to community members during the covid-19 lockdowns.
Our efforts are geared towards supporting the programmes of our local community, promoting cohesion in our community, and impacting the lives of the young people and the elderly.
GRANT MAKING POLICY
The charity supports other charities and missionary that shares its objects the advancement of Christian faith and relief of poverty. The church gives occasional welfare grants to members who are in need.
VOLUNTEERS
The church is grateful for the unstinting efforts of its volunteers who are involved in providing services for the charity. It is estimated that over 1000 hours was provided by volunteers during the year. If this is conservatively valued at £7.50 per hour, the volunteers effort will amount to over £7,500.
REVIEW OF ACTIVITIES
The charity continues to enjoy tremendous growth in its physical and spiritual life during the year, and in the advancement of Christian faith in accordance with the doctrines set out in the Statement of faith contained in our constitution.
RESERVES POLICY
The Trustee's policy is to have unrestricted and uncommitted funds (free reserves) to cover 3 to 6 months of resources expended. They feel that this would enable the current activities to continue if there is any significant drop in funding. It would obviously be necessary then to consider how the funding would be replaced or activities changed.
Page 4
BETHEL MINISTRIES UK
TRUSTEE'S REPORT
FOR THE PERIOD ENDED 31ST DECEMBER 2022
PRINCIPAL FUNDING
Funding has been provided mainly through tithes and offerings by church members and through donations. Pledges are also taken for specific projects.
FUTURE DEVELOPMENTS
The charity continues to explore various ways of spreading the gospel of Christ in an effective manner. The charity is also looking to grow in membership and continue to develop its members to make life-changing impact in the community.
Page 5
BETHEL MINISTRIES UK
TRUSTEE'S REPORT
FOR THE PERIOD ENDED 31ST DECEMBER 2022
STATEMENT OF TRUSTEES' RESPONSIBILITIES
The Trustees are responsible for preparing the annual report and financial statements in accordance with applicable laws and regulations.
Charity law requires the trustees to prepare financial statements for each financial year. Under that law, the trustees have elected to prepare the financial statements in accordance with the United Kingdom Generally Acceptable Accounting Practice (United Kingdom Accounting Standards and applicable law). The financial statements are required to give a true and fair view of the state of affairs of the charity and of the surplus or deficit of the charity for that period. In preparing the financial statements, the trustees are required to:
-
Select suitable accounting policies and apply them consistently;
-
Make judgement and estimates that are reasonable and prudent;
-
Prepare the financial statements on a going concern basis unless it is inappropriate to presume that the company will continue in operation.
The trustees recognise their responsibilities to keep proper accounting records that 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 2011. They are also responsible for safeguarding the assets of the company and henceforth taking steps for the prevention and detection of fraud and other irregularities.
The appended financial statements have been prepared on the accruals basis and have been examined by an independent examiner, whose report is also appended.
Approved by trustees on 19 March 2023 and signed on their behalf by:
Oluwafemi Mustafa Trustee
Kehinde Ojewunmi Trustee
Page 6
BETHEL MINISTRIES UK INDEPENDENT EXAMINERS REPORT
FOR THE PERIOD ENDED 31ST DECEMBER 2022
TO THE TRUSTEES OF BETHEL MINISTRIES UK -
I report on the accounts of the charity for the period ended 31 December 2022 which is set on pages 8 - 12
RESPECTIVE RESPONSIBILITIES OF THE TRUSTEES AND THE EXAMINER
The charity trustees are responsible for the preparation of the accounts. The Charity's trustees consider than an audit is not required for the period under section 142(2) of the Charities Act 2011 and that an independent examination is needed.
It is my responsibility to:
-
examine the accounts under section145 of Charities Act 2011;
-
follow the procedures laid down in the general Directions given by the Charity Commissioners (under section 145(5)(b) of the 2011 Act; and
-
state whether particular matters have come to my attention.
BASIS OF MY EXAMINATION
My examination was carried out in accordance with the 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 account, and seeking explanations from you as 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 statements below.
EXAMINER'S STATEMENT
In connection with my examination, no matter has come to my attention:
(1) which gives me reasonable cause to believe that in any material respect the trustees have not met the requirements to ensure that:
-
proper accounting records are not kept in accordance with the Charities Act; and
-
accounts are prepared which agree with the accounting records and comply with the accounting requirements of the Charities Act 2011; or
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Akintayo Ojo FCCA 23-Mar-23 46 Hollywood Way. Erith. DA8 2QE
Page 7
BETHEL MINISTRIES UK
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE PERIOD ENDED 31 DECEMBER 2022
| Unrestricted Funds Notes 2022 Incoming resources £ Incoming resources from generated funds Donations & voluntary income 38,468 Grants income 955 Incoming resources from charitable activities - Total incoming resources 39,423 Resources expended Cost of activities in furtherance of charity's objects 38,059 Management and governance cost 600 Total resources expended 38,659 Net(outgoing)/incoming resources for the year 764 Total funds at the start of the year 17,635 Balance at the end of the year 18,399 |
Unrestricted Funds Notes 2022 Incoming resources £ Incoming resources from generated funds Donations & voluntary income 38,468 Grants income 955 Incoming resources from charitable activities - Total incoming resources 39,423 Resources expended Cost of activities in furtherance of charity's objects 38,059 Management and governance cost 600 Total resources expended 38,659 Net(outgoing)/incoming resources for the year 764 Total funds at the start of the year 17,635 Balance at the end of the year 18,399 |
Restricted Funds 2022 £ - - - |
Total Total Funds Funds 2022 2021 £ £ 38,468 28,919 955 415 - - 39,423 29,334 38,059 22,442 600 500 38,659 22,942 764 6,392 17,635 11,243 18,399 17,635 |
|---|---|---|---|
| 39,423 | - | ||
| 38,059 600 |
- - |
||
| 38,659 | - | ||
| 764 17,635 |
- - |
||
| 18,399 | - |
Page 8
BETHEL MINISTRIES UK
BALANCE SHEET
AS AT 31 DECEMBER 2022
| Notes Fixed Assets Tangible fixed assets 7 Current assets Cash at bank and in hand 7 Less: Current Liabilities: Creditors: Amount falling due within 8 One year Net assets Financed BY: Charity funds General - restricted General - unrestricted |
Total Total Funds Funds 2022 2021 £ £ 4,377 6,565 14,623 11,570 |
|---|---|
| 14,623 11,570 600 500 18,399 17,635 - - 18,399 17,635 18,399 17,635 |
The accounts have been prepared in accordance with the provision of Statement of Recommended
Practice: Accounting and Reporting by Charities (SORP) issued March 2008 as modified for smaller charities.
Approved by the Trustees on 19 March 2023 and signed on their behalf by:
Oluwafemi Mustafa Kehinde Ojewunmi Trustee Trustee
Page 9
BETHEL MINISTRIES UK
NOTES TO THE ACCOUNTS
FOR THE PERIOD ENDED 31 DECEMBER 2022
1. ACCOUNTING POLICIES
(1.1) Basis of preparation of financial statements
These accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008) .The financial statements have been prepared with Statement of Recommended Practice (SORP), "Accounting and Reporting by Charities published in March 2005 and applicable accounting standards. (1.2) Incoming resources
All incoming resources are included in the statement of financial activities when the charity is legally entitled to the income and the amount can be reasonably quantified with reasonable accuracy.
(1.3) Resources expended
All expenditures are accounted for on an accrual basis. Management and governance costs are cost incurred in connection with administration and compliance with statutory requirement (1.4) Fixed assets comprises of musical equipment and projectors cost. Depreciation is charged at rates listed below to write off the cost of the assets over their useful lives.
Musical Equipment - 25% reducing balance
Computers & projectors - 25% reducing balance
| Unrestricted Funds 2022 2. DONATIONS, LEGACIES AND SIMILAR INCOMING RESOURCES £ Tithe & Offering 38,468 Collections - 38,468 3. GRANTS RECEIVED £ Donation 955 Others - 955 |
Unrestricted Funds 2022 2. DONATIONS, LEGACIES AND SIMILAR INCOMING RESOURCES £ Tithe & Offering 38,468 Collections - 38,468 3. GRANTS RECEIVED £ Donation 955 Others - 955 |
Restricted Total Total Funds Funds Funds 2022 2022 2021 £ £ £ - 38,468 27,509 - - 1,410 |
|---|---|---|
| 38,468 | - 38,468 28,919 |
|
| £ 955 - |
£ £ £ - 955 415 - - - |
|
| 955 | - 955 415 |
Page 10
BETHEL MINISTRIES UK
NOTES TO THE ACCOUNTS
FOR THE PERIOD ENDED 31 DECEMBER 2022
| Unrestricted Funds 2022 4. COST OF CHARITABLE ACTIVITIES £ Zoom Platform & Software 805 Telephone & internet 356 Printing & design 1,237 Instrumentalist & music 15,320 Sundry expenses 544 Multimedia & studio recording 2,053 Insurance 133 Welfare & hospitality 3,187 Hall Hire 6,202 Community project & church events 1,109 Mission & evangelism 1,509 Travel & subsistence 200 Motoring costs 783 Administration costs 238 Visiting minister's expenses 2,194 Depreciation 2,189 38,059 Unrestricted 5. GOVERNANCE COSTS Funds 2022 Accountancy fees 600 Professional fees - 600 |
Unrestricted Funds 2022 4. COST OF CHARITABLE ACTIVITIES £ Zoom Platform & Software 805 Telephone & internet 356 Printing & design 1,237 Instrumentalist & music 15,320 Sundry expenses 544 Multimedia & studio recording 2,053 Insurance 133 Welfare & hospitality 3,187 Hall Hire 6,202 Community project & church events 1,109 Mission & evangelism 1,509 Travel & subsistence 200 Motoring costs 783 Administration costs 238 Visiting minister's expenses 2,194 Depreciation 2,189 38,059 Unrestricted 5. GOVERNANCE COSTS Funds 2022 Accountancy fees 600 Professional fees - 600 |
Restricted Funds 2022 £ - - - - - - - - - - - - - - - - |
Total Total Funds Funds 2022 2021 £ £ 805 536 356 - 1,237 1,705 15,320 8,034 544 224 2,053 1,039 133 197 3,187 1,227 6,202 2,660 1,109 2,651 1,509 280 200 150 783 - 238 - 2,194 1,550 2,189 2,189 38,059 22,442 Total Total Funds Funds 2022 2021 600 500 - - 600 500 |
|---|---|---|---|
| 38,059 | - | ||
| Unrestricted Funds 2022 600 - |
Restricted Funds 2022 - - |
||
| 600 | - |
| Period ended 31-Dec 2022 6. CASH BALANCES £ Cash at bank 14,623 14,623 |
Period ended 31-Dec 2022 6. CASH BALANCES £ Cash at bank 14,623 14,623 |
Period ende 31-Dec 2021 £ 11,570 11,570 |
|---|---|---|
| 14,623 |
Page 11
BETHELMINISTRIES UK
NOTES TO THE ACCOUNTS
FOR THE PERIOD ENDED 31 DECEMBER 2022
| 7. TANGIBLE FIXED ASSETS Motor Musical Computers & Total vehicle equipment Projectors 31-Dec 2022 Cost £ £ £ £ At 1 January 2022 2,800 5,375 579 8,754 Additions - - - - At 31 December 2022 2,800 5,375 579 8,754 Depreciation At 1 January 2022 700 1,344 145 2,189 Charge 700 1,344 145 2,189 At 31 December 2022 1,400 2,688 290 4,378 Net book value At 31 December 2022 1,400 2,687 289 4,377 8. CREDITORS Period ended 31-Dec 2022 £ Accrued expenses - Accrued accountancy fees 600 600 9. NET INCOMING RESOURCES/(RESOURCES EXPENDED) Period ended This is stated after charging 31-Dec 2022 £ Depreciation of tangible assets owned by the charity - Accountant's fees 600 10. TRUSTEES RENUMERATION Period ended 31-Dec 2022 During the year, no trustee received any remuneration NIL During the year, no trustee received any benefits in kind NIL |
Total 31-Dec 2021 £ 8,754 - |
|---|---|
| 8,754 | |
| 2,189 - |
|
| 2,189 | |
| 6,565 | |
| Period ended 31-Dec 2021 £ - 500 |
|
| 500 | |
| Period ended 31-Dec 2021 £ - 500 |
|
| Period ended 31-Dec 2021 NIL NIL |
Page 12