17 St Margaret’s Crescent, Gravesend, DA12 4EJ office@thevineaccounting.com www.thevineaccounting.com 078 6481 3717
Mrs Ann Hubbard 46 Poplicans Road, Cuxton Rochester ME2 1EH The Joshua Generation International Network Ltd
22 February 2023
Dear Ann,
Accounts for Period ended 31/10/2022
Please find attached final accounts for The Joshua Generation International Network Ltd for the period ended 31/10/2022 [including filleted/abbreviated accounts if appropriate].
Please review the attached carefully and if you are happy that the accounts can be approved please print out a set of each of the attached documents, obtain appropriate signatures at the foot of each Balance Sheet [and Directors Report, if relevant] and return the signed documents to this office.
Please do not hesitate to contact us if you have any queries.
Yours sincerely,
Fego Aligboro
1 of 1
The Joshua Generation International Network Ltd
Charity No. 1196267
Company No. 12862560
Trustees' Report and Unaudited Accounts
31 October 2022
The Joshua Generation International Network Ltd Contents
| Pages | ||
|---|---|---|
| Trustees' Annual Report | 2 to 3 | |
| Independent Examiner's Report | 4 | |
| Statement of Financial Activities | 5 | |
| Summary Income and Expenditure Account | 6 | |
| Balance Sheet | 7 | |
| Notes to the Accounts | 8 to | 13 |
| Detailed Statement of Financial Activities | 14 to | 15 |
Page 1
The Joshua Generation International Network Ltd Trustees Annual Report
The trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the unaudited financial statements of the charity for the period ended 31 October 2022.
REFERENCE AND ADMINISTRATIVE DETAILS
Company No. 12862560
Charity No. 1196267
Registered Office
46 Poplicans Road, Cuxton Rochester ME2 1EH
Directors and Trustees
The Directors of the charitable company are its Trustees for the purposes of charity law. The following Directors and Trustees served during the year:
P. Chiguri
P. Forna
A. Hubbard
I. Udochukwu
I. White
Accountants
The Vine Accounting Ltd 17 St Margaret's Crescent Gravesend DA12 4EJ
OBJECTIVES AND ACTIVITIES
The objects of the Charity are, for the public benefit in the United Kingdom and overseas, the advancement of the Christian faith and in accordance with the statement of belief appearing in the schedule
(a) The relief of financial hardship.
(b) The preservation and protection of good physical and mental health.
(c) The advancement of education and training.
(d) The provision of facilities for recreation or other leisure time occupation with the object of improving conditions of life of those persons who have need of such facilities by reason of their youth, age, infirmity or disablement, financial hardship or social and economic circumstances.
Invaluable contribution has been made by our volunteer Trustees and members who contribute their time and labour without charge
Page 2
The Joshua Generation International Network Ltd Trustees Annual Report
ACHIEVEMENTS AND PERFORMANCE
Relief of financial hardship: supplied to different nations: seed and fertilisers, plants, beehives, poultry, sewing machines. This has empowered people to be able to pay their own children’s school fees Has built their self-confidence and empowered them to change their future.. Donations to orphanages, Uganda, India, Liberia, Zimbabwe. We have helped the closure of one orphanage, registered another. Empowered them to become self-sustainable. Accommodation and feeding of street children. Increased wellbeing of orphans and alleviated hunger, fighting food poverty. Accommodation Ensured their safety and wellbeing.
Preservation of good physical and mental health - medical expenses and metal coffin to stop spread of covid. Peace of mind. Sanitary pads to girls and women. Removes shame, increased school attendance. Advancement of Education and training - Sponsored university and school places, provided uniforms, textbooks to schools. Education and change their future.
Leadership training and biblical studies to strengthen our members. chair/Founder has continued to educate our members in Africa and share the gospel, joined in some instances by our CEO and other team members.
During Covid our social media platforms acted as a place of encouragement and alerted us to needs in the nations. The provision of facilities for recreation or other leisure time occupation. We have provided footballs to Uganda football team and balls to other children. Plus, play equipment.
Taking into consideration the challenges of Covid during this period we have achieved all our objectives.
FINANCIAL REVIEW
Our outgoings and giving have increased considerably but we also have had increased donations and sponsorship of children.
Reserves are held for funding projects, capital expenditure, equipment and professional fees
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP (FRS 102).
Signed on behalf of the board
A. Hubbard Trustee
23 February 2023
Page 3
The Joshua Generation International Network Ltd Independent Examiners Report
Independent Examiner's Report to the trustees of The Joshua Generation International Network Ltd
I report to the charity trustees on my examination of the financial statements of The Joshua Generation International Network Ltd for the period ended 31 October 2022 which comprise the Statement of Financial Activities, the Summary Income and Expenditure Account, the Balance Sheet and the related notes.
Responsibilities and basis of report
As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act.
Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's financial statements as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the 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 can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that:
-
accounting records were not kept in accordance with section 386 of the 2006 Act ; or
-
the financial statements do not accord with those records; or
-
the financial statements do not comply with the accounting requirements under section 396 of the 2006 Act other than any requirement that the financial statements give a 'true and fair' view which is not a matter considered as part of an independent examination; or
-
the financial statements have not been prepared in accordance with the Charities SORP (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
Fego Aligboro FCCA The Vine Accounting Ltd 17 St Margaret's Crescent Gravesend
DA12 4EJ 23 February 2023
Page 4
The Joshua Generation International Network Ltd Statement of Financial Activities
for the period ended 31 October 2022
| Notes Income and endowments from: Donations and legacies 3 Other 4 Total Expenditure on: Raising funds 5 Charitable activities 6 Other 7 Total Net gains on investments Net income/(expenditure) Transfers between funds Net income/(expenditure) before other gains/(losses) Other gains and losses Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
Unrestricted funds 2022 £ 20,559 5 |
Restricted funds 2022 £ 4,952 - |
Total funds 2022 £ 25,511 5 |
Total funds 2021 £ 15,982 - |
|---|---|---|---|---|
| 20,564 - 5,998 16,203 |
4,952 - 780 1,360 |
25,516 - 6,778 17,563 |
15,982 1,067 4,442 11,677 |
|
| 22,201 - |
2,140 - |
24,341 - |
17,186 - |
|
| (1,637) - |
2,812 - |
1,175 - |
(1,204) - |
|
| (1,637) | 2,812 | 1,175 | (1,204) | |
| (1,637) (1,204) |
2,812 - |
1,175 (1,204) |
(1,204) - |
|
| (2,841) | 2,812 | (29) | (1,204) |
Page 5
The Joshua Generation International Network Ltd Summary Income and Expenditure Account for the period ended 31 October 2022
| Income Gross income for the period Expenditure Total expenditure for the period Net income/(expenditure) before tax for the period Net income /(expenditure )for the period |
2022 £ 25,516 25,516 24,341 24,341 1,175 1,175 |
2021 £ 15,982 |
|---|---|---|
| 15,982 | ||
| 17,186 | ||
| 17,186 | ||
| (1,204) | ||
| (1,204) |
Page 6
The Joshua Generation International Network Ltd Balance Sheet
at 31 October 2022
| Company No. 12862560 Notes 2022 £ Current assets Cash at bank and in hand 3,428 3,428 Creditors:Amount falling due within one year 9 (3,457) Net current liabilities (29) Total assets less current liabilities (29) Net liabilities excluding pension asset or liability (29) Total net liabilities (29) The funds of the charity Restricted funds 10 Restricted income funds 2,812 2,812 Unrestricted funds 10 General funds (2,841) (2,841) Reserves 10 Total funds (29) |
2021 £ 806 |
|---|---|
| 806 (2,010) |
|
| (1,204) (1,204) |
|
| (1,204) | |
| (1,204) | |
| - | |
| - (1,204) |
|
| (1,204) | |
| (1,204) |
These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
For the period ended 31 October 2022 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
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.
Approved by the board on 23 February 2023
And signed on its behalf by:
A. Hubbard Trustee
23 February 2023
Page 7
The Joshua Generation International Network Ltd Notes to the Accounts
for the period ended 31 October 2022
- 1 Accounting policies
Basis of preparation
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Change in basis of accounting or to previous accounts
There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.
Fund accounting
-
Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.
-
Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values.
-
Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.
Income
-
Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability.
-
Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA. Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income.
-
Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material.
Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets
Page 8
The Joshua Generation International Network Ltd Notes to the Accounts
Expenditure
-
Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which it relates.
-
Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs.
-
Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
-
Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.
-
Other expenditure These are support costs not allocated to a particular activity.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Freehold investment property
Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise.
Stocks
Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.
Trade and other debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.
Trade and other creditors
Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
Page 9
The Joshua Generation International Network Ltd Notes to the Accounts
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
Foreign currencies
Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period.
Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred.
All exchange differences are are taken into account in arriving at net income/expenditure.
Leased assets
Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.
Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases.
Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs.
Assets held under finance leases are depreciated in the same way as owned assets.
Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.
Pension costs
The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.
Receipt of donated goods, facilities and services
All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.
2 Company status
The company is a private company limited by guarantee and consequently does not have share capital.
Page 10
The Joshua Generation International Network Ltd
Notes to the Accounts
3 Income from donations and legacies
| 4 Other income 5 Expenditure on raising funds Costs of generating voluntary income 6 Expenditure on charitable activities Expenditure on charitable activities Governance costs 7 Other expenditure Volunteers costs Premises costs General administrative costs Legal and professional costs |
Unrestricted £ 20,559 20,559 Unrestricted £ 5,870 128 5,998 Unrestricted £ 621 12,328 - 1,295 1,959 16,203 |
Restricted £ 4,952 4,952 Unrestricted £ 5 5 |
Total 2022 £ 25,511 25,511 Total 2022 £ 5 5 |
Total 2021 £ 15,982 |
|---|---|---|---|---|
| 15,982 | ||||
| Total 2021 £ - |
||||
| - | ||||
| Restricted £ 780 - 780 Restricted £ - 632 - 728 - 1,360 |
Total 2022 £ - - Total 2022 £ 6,650 128 6,778 Total 2022 £ 621 12,960 - 2,023 1,959 17,563 |
Total 2021 £ 1,067 |
||
| 1,067 | ||||
| Total 2021 £ 4,442 - |
||||
| 4,442 | ||||
| Total 2021 £ - 6,123 895 2,907 1,752 |
||||
| 11,677 |
Page 11
The Joshua Generation International Network Ltd Notes to the Accounts
| 8 Staff costs Volunteers expenses 9 Creditors: amounts falling due within one year Loans from trustees Other creditors 10 Movement in funds Restricted funds: Restricted income funds: Fire House of Prayer (FHOP) Purple Community Fund (PCF) Total Unrestricted funds: General funds Total funds |
At 1 October 2021 - - - (1,204) (1,204) |
2022 3,943 3,943 2022 £ 3,007 450 3,457 Incoming resources (including other gains/losses ) £ 4,102 850 4,952 20,564 25,516 |
Resources expended £ (1,290) (850) (2,140) (22,201) (24,341) |
2021 2,823 |
|---|---|---|---|---|
| 2,823 | ||||
| 2021 £ 1,550 460 |
||||
| 2,010 | ||||
| At 31 October 2022 £ 2,812 - |
||||
| 2,812 | ||||
| (2,841) | ||||
| (29) |
Purposes and restrictions in relation to the funds:
| Restricted funds: | |
|---|---|
| Fire House of Prayer (FHOP) | Set up offices related costs to enable the prayer arm of the charity |
| Purple Community Fund | Financial support for Yiga Ben orphanage of Mpigi in Kampala Uganda |
| (PCF) |
11 Analysis of net assets between funds
| Net current assets | Unrestricted funds £ (29) (29) |
Total £ (29) |
|---|---|---|
| (29) |
Page 12
The Joshua Generation International Network Ltd Notes to the Accounts
12 Reconciliation of net debt
| Reconciliation of net debt | |||
|---|---|---|---|
| Cash and cash equivalents Net debt |
At 1 October 2021 £ |
Cash flows £ |
At 31 October 2022 £ |
| 806 | 2,622 | 3,428 | |
| 806 806 |
2,622 2,622 |
3,428 | |
| 3,428 |
13 Related party disclosures Controlling party
Page 13
The Joshua Generation International Network Ltd Detailed Statement of Financial Activities
for the period ended 31 October 2022
| Income and endowments from: Donations and legacies Other Total income and endowments Expenditure on: Costs of generating donations and legacies Total of expenditure on raising funds Charitable activities Governance costs Total of expenditure on charitable activities Other expenditure Employee costs Volunteers expenses Volunteers training Rent General administrative costs, including depreciation and amortisation Equipment expensed Software, IT support and related costs Stationery and printing |
Unrestricte d funds 2022 £ 20,559 20,559 5 5 20,564 - - - 5,870 5,870 128 128 5,998 621 621 3,943 8,385 12,328 - - 386 79 266 |
Restricted funds 2022 £ 4,952 4,952 - - 4,952 - - - 780 780 - - 780 - - - 632 632 - - 658 - - |
Total funds 2022 £ 25,511 25,511 5 5 25,516 - - - 6,650 6,650 128 128 6,778 621 621 3,943 9,017 12,960 - - 1,044 79 266 |
Total funds 2021 £ 15,982 |
|---|---|---|---|---|
| 15,982 | ||||
| - | ||||
| - | ||||
| 15,982 1,067 |
||||
| 1,067 | ||||
| 1,067 4,442 |
||||
| 4,442 | ||||
| - | ||||
| - | ||||
| 4,442 - |
||||
| - | ||||
| 2,823 3,300 |
||||
| 6,123 | ||||
| 895 | ||||
| 895 | ||||
| 387 797 203 |
Page 14
The Joshua Generation International Network Ltd Detailed Statement of Financial Activities
| The Joshua Generation International Network Ltd Detailed Statement of Financial Activities |
||||
|---|---|---|---|---|
| Sundry expenses Legal and professional costs Accountancy and bookkeeping Other legal and professional costs Total of expenditure of other costs Total expenditure Net gains on investments Net income/(expenditure) Net income/(expenditure) before other gains/(losses) Other Gains Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
564 1,295 450 1,509 1,959 16,203 22,201 - (1,637) (1,637) - (1,637) (1,204) (2,841) |
70 728 - - - 1,360 2,140 - 2,812 2,812 - 2,812 - 2,812 |
634 2,023 450 1,509 1,959 17,563 24,341 - 1,175 1,175 - 1,175 (1,204) (29) |
1,520 |
| 2,907 | ||||
| 460 1,292 |
||||
| 1,752 | ||||
| 11,677 | ||||
| 17,186 - |
||||
| (1,204) | ||||
| (1,204) - |
||||
| (1,204) | ||||
| - | ||||
| (1,204) |
Page 15