## Charity No: 1196256
**Trustees' Annual Report & Statement of Financial Activity for the Year Ended 31st March 2024**
## **Kingdom Life International Church Preston**
## **Legal & Administrative Details**
## **For the Period Ended 31st March 2024**
Name of the Charity: The name of the Charitable Incorporated Organisation (CIO) is **Kingdom Life International Church Preston** Charity's Address: Enterprise House Salter Street Preston PR1 1NT Email: dele@kingdomlife.co.uk Website: www.thekingdomlife.co.uk Registration: Registered with Charity Commission on 25th October 2021 Charity Registration No.: 1196256
|Trustees Responsible for Managing the Charity:|Trustees Responsible for Managing the Charity:|||
|---|---|---|---|
|**Name**|**Office**|**Appointed**|**Resigned**|
|Pastor Dele Oderinde|Chair|1st Feb 2019||
|Dr Dumebi Oderinde||8th Sept 2023||
|Rev. Stephen Mbwana||2nd Mar 2023||
|Mrs Joanne Slamon||1st Feb 2019|31st Aug 2023|
|Independent Examiner:|Michelle Tilley, MAAT|||
||**Index**|||
||||**Page**|
|Legal & Administrative Details|||2|
|Trustee's Report|||3|
|Independent Examiners|Report||6|
|Receipts and Payments Account|||7|
|Statement of Assets and|Liabilities||8|
|Notes to the Accounts|||9|
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## **Kingdom Life International Church Preston**
## **Report of the Trustees**
## **For the Period Ended 31st March 2024**
## **Objects of the Charity**
The charity is a Church which is governed by a constitution and is constituted as a charitable incorporated organisation. The charity's principal objects, as set out in its governing document, are to advance the Christian faith for the benefit of the public.
## **Summary of the Charity's Main Activities and Achievements**
The Trustees are aware of the Charity Commission's guidance on public benefit in "The Advancement of Religion for the Public Benefit" and has regard to it in the administration of the Church.
The Church exists to:
- increase awareness of God’s presence and to celebrate God’s love;
- help people learn and grow as Christians, through mutual support and care; and
- be a good neighbour to people in need and challenge injustice.
The Church provides benefit to the public by:
- providing resources and facilities for the enjoyment of public worship, pastoral care and spiritual, moral and intellectual development, both for the congregation and for anyone else who wishes to benefit from what the Church offers.
• promoting Christian values and service by members of the congregation to the community, for the benefit of individuals and society as a whole.
• engaging with the general public, and in particular with the disadvantaged, the sick, the elderly and the young. This can be measured and evidenced through increased social integration and pastoral care delivered at the point of need.
• improving understanding of the values relating to community engagement, community cohesion and providing a bridge between diverse groups.
• The beneficiaries are the general public, and the public valuation of the benefits can be evidenced through attendance at public worship, participation in Church governance and willingness to support the Church through contributions.
The trustees consider that for these reasons the Church meets the public benefit requirements. No Trustee receives remuneration, reward or other private benefit for carrying out their Trustee responsibility.
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This is the Church's second year as a charity - the Church operates a busy schedule and Enterprise House is in use most days of the week. Weekly attendance and membership have increased during this year. We have benefitted from a move to larger premises and our presence and profile have increased across the local area through social media and networking. Our website and social media posts have all been maintained with the objective of letting everyone know, and be encouraged by, news and pictures of our activities.
Having a larger space has allowed a number of events to be held at the Church throughout the year. These events have raised the profile of the Church and have included:-
- a Women's Health Seminar
- Limitless Youth
- Life Changing Kingdom Men's Conference
- Women Prayer Conference
The Church acquired a minibus in November 2023 which has been useful for outreach activities.
## **Financial Review**
This is the charity’s first full year of operation and the results cover the year ended 31 March 2024. The charity’s main source of funds received this year was from offerings and donations - no grants were applied for or received during the year. During the year, offerings and donations received totalled £53,536. The offerings and donations received have been made available without restriction as to their usage. At the period end the unrestricted funds held by the charity which can be used for any charitable purpose was £1,825.
## **Reserves Policy**
Freely available reserves are a pool of unapplied resources available to meet future demands on the Church’s resources. This is “general purpose” money that can be spent on any of the purposes of the charity. The Trustees are committed to holding sufficient reserves to ensure the Church can meet its general business commitments.
## **Governance**
There must be at least three charity trustees. If the number falls below the minimum the remaining trustee(s) may act only to call a meeting of the charity trustees or appoint a new charity trustee. There is no maximum number of charity trustees that may be appointed to the CIO.
## **Risk Statement**
The charity is exposed to various risks - be they operational, financial or reputational. The trustees review the charity's activities regularly to identify significant risks and, where possible, they take appropriate measures to mitigate those risks.
## **Responsibilities of Trustees**
The trustees are required to prepare financial statements for each accounting year which record the receipts and payments of the charity for the year. We are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable us to ensure that the financial statements comply with the Charities Act 2022.
We also have a responsibility to safeguard the assets of the charity and to take reasonable steps to prevent fraud or any other irregularities.
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## **Approval**
This report was approved by the trustees and signed on their behalf by:
Pastor Dele Oderinde (Chair of Trustees)
Date: 23rd May 2024
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## **Independent Examiners Report**
## **to the Trustees of**
## **Kingdom Life International Church Preston**
I report to the trustees on my examination of the accounts of Kingdom Life International Church, Preston ('the charity') for the year ended 31st March 2024 on pages 7 to 9 following.
## Responsibilities and basis of the report
As the trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of the charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under Section 145(5)(b) of the 2011 Act.
## Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in accordance with section 130 of the Charities Act 2011; or 2. the accounts do not accord with the accounting records.
I have no concerns and have come across no matters in connection with the examination to which attention drawn in order to enable a proper understanding of the accounts to be reached.
Michelle Tilley
Date: 24th June 2024
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## **Kingdom Life International Church Preston**
## **Receipts and Payments Account**
## **For the Year Ended 31st March 2024**
**----- Start of picture text -----**
Current Financial Year -
April 2023 to March 2024 Last Year
Unrestr'd Restricted
Funds Funds Total Total
Receipts
-
Offerings & Donations £23,475 £23,475 £9,766
-
Tithes £27,551 £27,551 £3,319
Other Income £2,510 - £2,510 £1,700
£53,536 - £53,536 £14,785
-
Total Receipts £53,536 £53,536 £14,785
Payments
-
Costs of charitable activities £12,114 £12,114 £4,741
-
Rent £29,573 £29,573 £5,900
-
Repairs and maintenance £1,396 £1,396 £784
- -
Light and heating £3,760 £3,760
- -
Insurance £1,524 £1,524
-
Telephone, internet and postage £1,774 £1,774 £546
-
Printing, postage, stationery & computer supplies £962 £962 £1,241
-
Bank interest and charges £23 £23 £8
- -
Governance costs £150 £150
-
£51,275 £51,275 £13,222
- -
Assets Purchased £2,000 £2,000
-
Total Payments £53,275 £53,275 £13,222
-
Net Movement in Funds £261 £261 £1,563
- -
Cash Funds as at the end of Last Year £1,563 £1,563
Cash Funds at this Year End £1,825 - £1,825 £1,563
**----- End of picture text -----**
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## **Kingdom Life International Church Preston**
## **Statement of Assets and Liabilities**
## **as at 31st March 2024**
|**Cash Funds**
Cash at bank (immediate access)
Petty Cash
**Other Monetary Assets**
Debtors
**Liabilities**
Creditors
**Assets Retained for the Charity’s Own Use**
Minibus|**General**
**Funds**
**Designated**
**Funds**
**Restricted**
**Funds**
£1,825
-
-
-
-
-
**£1,825**
**-**
**-**
-
-
-
**-**
**-**
**-**
-
-
-
**-**
**-**
**-**
Fund to
which asset
belongs
Cost
General
£2,000
**Current Financial Year -**
**April 2023 to March 2024**|**Last Year**
£1,563
-|
|---|---|---|
||-||
||**£1,825**|**£1,563**|
||-|-|
||**-**|**-**|
||-|-|
||**-**|**-**|
||||
||||
||||
## **Guarantees and Secured Debts**
The charity has not given any guarantees and has not provided security for any liabilities.
The accounts were approved by the trustees and signed on their behalf by:
Pastor Dele Oderinde (Chair of Trustees)
Date: 23rd May 2024
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## **Kingdom Life International Church Preston**
## **Notes to the Accounts**
## **For the Year Ended 31st March 2024**
## **1. Accounting Policies**
The accounts have been prepared on a receipts and payments basis and comprise a statement that shows the charity's receipts and payments, a statement that summarises the charity's assets and liabilities and related notes. The accountancy profession have determined that only accounts prepared in accordance with applicable accounting standards present a 'true and fair' view and, as these receipts and payments accounts have not (and cannot) be prepared in accordance with accounting standards, these accounts do not present (and are not intended to present) a 'true and fair' view of the charity's financial activities and state of affairs.
General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. Restricted funds are donations which are to be used in accordance with specific restrictions imposed by donors; they include donations received from appeals for specific activities or projects.
## **2. Tangible Fixed Assets**
The charity purchased a minibus in November 2023 - depreciation will be calculated to write off it's cost less any residual value in equal instalments over it's useful economic life. The annual rate in use is 50% per annum but no depreciation has been applied in the current year as the minibus was purchased towards the end of the financial year.
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