BETHEL MINISTRIES UK TRUSTEE'S REPORT AND FINANCIAL STATEMENTS FOR THE PERIOD ENDING 31ST DECEMBER 2023
BETHEL MINISTRIES UK CONTENTS OF THE FINANCIAL STATEMENTS FOR THE PEFUOD ENDED 31ST DECEMBER 2023 CONTENTS PAGE Reference and admlnistrative details Trustees report Independent Examiner's report Statement of Income & Expenditure Balance sheet Notes to the accounts 10- 12 Page I
BETHEL MINISTRIES UK ORGANISATION'S INFORMATION FOR THE PERIOD ENDED 31ST DECEMBER 2023 Trustees Dr Osarugue Adeyemi Mr Olawafemi Mustafa Mr Olayemi Alafifun Mrs Kehlnde Ojewunmi Minister in Charge Pastor Adewale Adeyemi Principal Office 28 Orchard Way Snodland Kent ME6 SEW Accountant Akintayo OJO FCCA Resource Accountancy Practlce 46 Hollywood Way Erlth DA8 2QE Bankers Barclays Bank PLC Maidstone Branch 13 Fremlin Walk Maidstone ME14 IQG Page 2
BETHEL MINISTRIES UK TRUSTEE'S REPORT FOR THE PERIOD ENDED 31ST DECEMBER 2023 The trustees submlt their port and financial statement for Bethel Mlnlstries UK (The Charity) for the period ended 31 December 2023. The trustees confirm that the trustees, report and flnanclal comply with the current statutory requirements and the provisions of the regulators. STRUCTURE. GOVERNANCE AND MANAGEMENT Bethel MlnistrSes UK started services in l 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 strateglc 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 chalr and other trustees, followed by short meetlngs wlth the Pastor In Charge on the powers and responslbilities of the trustees. ORGANZSATIONAL STRUCTURE AND DECISION MAKING The trustees meet regularly to manage the affairs of the organisatlon. The Minister in Charge oversee the splritual activities of the church. WORKING NAMES Bethel Ministrles UK also trade under the name Bethel Kingdom Church RISK MANAGEMENT The Trustees have assessed the major risks to whlch the charlty Is exposed, In partlcular 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 Chrlstian faith in accordance wlth the statement of beliefs of the evangelical faith, and the rellef of poverty. To achieve its objectives, the church adopted the followlng strategies: Running Christian rellglous actlvltles comprising of Sunday Servlces and mldweek bible study, Organising community developments programmes, Welfare, helps, tralnlng and development programmes for Indlvlduals, Supporting other charities and Christian events, and Convening gatherlng of Christian tagged Inter-Denominatlonal Christian Gathering. Page 3
BETHEL MINISTRIES UK TRUSTEE'S REPORT FOR THE PERIOD ENDED 31ST DECEMBER 2023 PUBLIC BENEFrrs The Church's Sunday and mld-week servlces are open to the general publlc to build on thelr Christlan faith. Apart from its Church activitles, the charlty was Involved In the following public benefit efforts., Organlsing seminars, training programmes and events that encouraged capaclty and self development of members of the community Holding outreaches in areas of Interest to our communlty. In the year we shared the Joy of Chrlstmas with our community by organlslng a Caml servlce, we also celebrated the Mothers, We gave gifts, provide support and share the message of goodwill to communlty members during the covid-19 lockdowns. Our efforts are geared towards supporting the programmes of our local communlty, promotlng cohesion In our community, and impatting the lives of the youllg people and the elderly. GRANT MAKING POLICY The charity supports other charltles and missionary that shares its objects the advancement of Chrlstlan faith and rellef of poverty. The chu rch gives occasional welfare grants to members who are In need, VOLUNTEERS The chu rch Is grateful for the u nstlnting efforts of its volunteers who are Involved In provldlng services for the charlty. It is estimated that over 1000 hours was provided by volunteers durlng the year. If thls is conservatlvely 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 splritual life during the year, and In the advancement of Christian faith in accordan with the doctrines set out in the Statement of faith contained In ou r constitution. RESERVES POLICY The Trustee's pollcy is to have unrestrlcted and u ncommitted ndS (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 slgnlflcant dmp In fvnding. It would obvlously be necessary then to consider how the funding would be replad or activities changed. Page 4
BETHEL MINISTRIES UK TRUSTEE'S REPORT FOR THE PERIOD ENDED 31ST DECEMBER 2023 PRINCIPAL FUNDING Funding has been provided malnly thmugh tithes and offerings by church members and through donations. Pledges are also taken for specific projects. FUTURE DEVELOPMENTS The charity COtInueS to explo varlous ways of spreadlng the gospel of Christ in an effective manner. The charlty is also looklng to grow in membership and continue to develop its members to make life-changlng impact in the community. Page 5
BETHEL MINisfRIES UK TRUSTEE'S REPORT FOR THE PERIOD ENDED 31ST DECEMBER 2022 STATEMENT OF TRUStEES' RESPONS181LITIES The Trustees are responsible for preparing the annual report and financlal Statements in accor- dance wlth applicable laws and regulations. Charity law requires the trLtstees to prepare financial statements for each financlal year. Under that law, the trustees have elected to prepare the financial statements in accordance with the Unlted Kingdom Generally Acceptable Accounting Prarttce (United Klngdom Accounting Standards and applicable law). The financlal statements are required to give a true and falr vlew of the state of affairs of the charity and of the surplus or deficit of the charity for that period. In preparlng the financial statements, the trustees are required to.. Selett sultable accounting policies and apply them conslstentlyi Make judgement and estimates that are reasonable and prudent- Prepare the 15nancial statements on a golng concern basis unless it is inappropriate to presume that the company will contlnue in uperation. The trustees recognise their responsibillties to keep proper accounting records that disclose with reasonable accuracy at any tlme the financlal position of the charity and enable them to ensure that the financial statements comply with the Ch?rlties 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 irregularlties. The appendecl financial statements have been prepared on the accruals basis and have been examined by an Independent examTner, whose report is also appended. Approved by trustees on I I and slgned on their behalf by.. OILiwafemi Mustapha -rustee Kehinde Ojewunml Trustee Page 6
BETHEL MINISTRIES UK INDEPENDENT EXAMINERS REPORT FOR THE PERIOD ENDED 31ST DECEMBER 2023 TO THE TRUSTEES OF BEfHEL MINISTRIES UK - I report on the accounts of the charity for the perlod ended 31 December 2023 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 requlred for the period under section 142(2) of the Charltles Act 2011 and that an independent examination is needed. It Is my responsibility to: examlne the accounts under section 145 of Charities Act 2011; follow the procedures laid down in the general Directions given by the Charlty Commissioners (under sectlon 145(5)(b) of the 20 11 Act; and State whether partlcular matters have come to my attention. BASIS OF MY EXAMINATION My examinatlon was carried out in accordance with the General Directions given by the Charity Commisslon. An examinatlon 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 dlsclosures in the account, and seeking explanatlons from you as trustees concerning any such matters. The procedures undertaken do not provlde all the evldence that wou Id be requ Ired in an audlt, and consequently no opinion is glven as to whether the accounts present a "true and falr" vlew and the report is limited to those matters set out In the statements below. EXAMINER'S STATEMENT In connection with my examinatlon, no matter has come to my attentlon: (l) whlch glves me reasonable cause to belleve that In any materlal respect the trustees have not met the requlrements to ensure that: proper accountlng records are not kept In accordance wlth the Charltles Act; and accou nts are prepared which agree with the accou nting records and comply with the accounting requlrements of the Charltles Act 2011. or (2) to which, in my opinion, attention should be drawn in order to enable a proper under- standing of the accounts to be reached. Akintayo Ojo FCCA 46 Hollywood Way. Erlth. DA8 2QE Page 7
BETHEL MINISTRIES UK STATEMENT OF FINANCIAL ACTivrrIES FOR THE PERIOD ENDED 31 DECEMBER 2023 Unrtstricted Restrictod Total Total Funds Funds Funds Funds Notes 2023 2023 2023 2022 Incoming resources Incomlng resources from generated funds Donations & voluntary income Grants income Incoming sOurceS from charitable actlvlties Total Incoming sOurceS 49,526 49,526 38,468 955 49,526 49,526 39,423 Resources expended Cost of attivities in fvrtherance of charity's objects Management and governance cost Total resources expended 40,035 650 40,685 40,035 650 40,685 38,059 600 38,659 Net(outgoing)/lncoming resources for the year 8,840 8,840 764 Total fvnds at the start of the year 18,399 18,399 17,635 Balance at the end of the year 27,239 27.239 18,399 Page 8
BETHEL MINISTRIES UK BALANCE SHEEr AS AT 31 DECEMBER 2022 T4)tal Total Fufid$ Funds Notes 2022 2021 Fixed Assets Tangible flxed assets 4,377 6,565 Current assets Cèsh at bank and In hand 14,623 14,623 11,570 11,570 Less: Current Uabilities: Creditors-. Amount falling due within One year Net assets 600 18,399 500 17,635 Flnanced BY: Charity funds General - restrlcted General - unrestricted 18,399 18,399 17,635 17,635 The accounts have been prepared In 3ccordants Y41th the provLsSon of 5tstement of Recommtnded Pracrice.. Aceounttng and Reportyng by chari ISORPI i55ued March 2008 as rnDdifed for smaller tharitie5. Approved by theTnJstees on I l - q. 24 and signed on their behalf by: Oluwafemi Mustapha -. rustee Kehinde Ojewunmi Trustee Page 9
BETHEL MINISTRIES UK NOTES TO THE ACCOUNTS FOR THE PERIOD ENDED 31 DECEMBER 2023 I. ACCOUNTING POLICIES (1.1) Basls of preparation of flnanclal statements These accounts have been prepared under the historlcal cost convention and In accordance with the Financlal Reporting Standard for Smaller Entltles (effertive April 2008) .The financial statements have been prepared with Statement of Recommended Practlce (SORP), "Accounting and Reporting by Charities published In March 2005 and appllcable accounting standards. (1.2) Incoming resources All incoming resources are Included In the statement of financlal actlvlties when the charlty is legally entltled to the income and the amount can be reasonably quantitled wlth reasonable accuracy. (1.3) Resources expended All expenditures are accounted for on an accrual basls. Management and governance costs are cost Incurred in connection with administration and compllance wlth statutory requlrement (1.4) Flxed assets comprises of musical equlpment and projectors cost. Depreclatlon is charged at rates listed below to write off the cost of the assets over thelr useful lives, Musical Equipment 250h reducing balance Computers & projectors 250/0 reducing balance Unrestricted Restrieted Total Total Funds Funds Funds Funds 2023 2023 2023 2022 2. DONATIONS, LEGACIES AND SIMILAR INCOMING RESOURC&< Tlthe & Offering 49,526 49,526 49,526 49,526 38,468 38,468 3. GRANTS RECEIVED Donatlon 955 955 Page 10
BETHEL MINISTRIES UK NOTES TO THE ACCOUNTS FOR THE PERIOD ENDED 31 DECEMBER 2023 Unre5trlcted Re5tricied Total Totsl Funds Funds Funds Fund5 2023 2023 2023 2022 4. COST OF CHARITABLE AcrivrTIES Zoom Platform & Software Telephone & internet Printing & design Instnjmentalist & muslc Sundry expenses Multlmedia & studio recordlng Insurance 694 516 209 18,898 524 150 1,259 694 516 209 18,898 524 150 1,259 805 356 1,237 15,320 544 2,053 133 Flll Welfare & hospitality Hall Hire Community project & church events Mission & evangelism Travel & su bsistence Motoring costs Admini5tratlon costs Visiting minister's expenses Depreclation 2,403 6,843 929 574 2,403 6,843 929 574 3,187 6,202 1,109 1,509 200 783 238 2,194 2,189 38,059 1,814 595 387 1,852 2,388 40,035 1,814 595 387 1,852 2,388 40,035 Unrestritted Restritted Totsl Total 5, GOVERNANCE COSTS Funds Funds Funds Funds 2023 2023 2023 2022 Accountancy fees Professional fees 650 650 600 650 650 600 Period ended Perlod end, 31-Dec 2023 31-Dec 2022 6. CASH BALANCES Cash at bank 25,105 25,105 14,623 14,623 Page 11
BETHELMINISTRIES UK NOTES TO THE ACCOUNTS FOR THE PERIOD ENDED 31 DECEMBER 2023 7. TANGIBLE FIXED ASSETS Motor Musical -ornputers & vehicle equipment Projectors Total 31-Dec 2023 Total 31-Dec 2022 Cost At l January 2023 Addltlons At 31 December 2023 Depreciation At l January 2023 Charge At 31 December 2023 2,800 5,375 579 796 8,754 796 9,550 8,754 2,800 5,375 8,754 1,400 700 2,100 2,688 1,344 4,032 290 344 634 4,378 2,388 6,766 2,189 2,189 4,378 Net book value At 31 December 2023 700 1,343 741 2,784 4,376 At 31 December 2022 1,400 2,687 289 4,376 8. CREDITORS Period ended Period ended 31-Dec 31-Dec 2023 2022 Accrued expenses Accrued accountancy fees 650 650 600 600 9. INCOMING RESOURCESI(RESOURCES EXPENDED) This is stated after charging Period ended Pertod ended 31-Dec 31-Dec 2023 2022 Depreciation of tangible assets owned by the charity Accountant's fees 2,388 650 2,189 600 10. TRUSTEES RENUMERATION Perfod ended Period ended 31-Dec 31-Dec 2023 2022 NIL NIL Durlng the year, no trustee recelved any remuneratlon During the year, no trustee recelved any benefits in kind NEL NIL Page 12