ADURA LO'GBA AGBARA KO MINISTRY (IT'S BY PRAYER NOT BY MIGHT MINISTRY) ANNUAL RETURN FOR YEAR END 31ST of December 2023. Ir5 BY PRAYER NOT BY MIGHT
ADURA LO'GBA AGBARA KO MINISTRY (IT'S BY PRAYER NOT BY MIGHT MINISTRY) CONTENTS PAGE Legal and administrative information Report of the trustees Irbdependent Examinerfs report Statement of financial activitie5 Balance sheet io Notes to the financial statements 11-13 Income and expense statements 14
ADURA LO'GBA AGBARA KO MINISTRY {IT'S BY PRAYER NOT BY MIGHT MINISTRY) Legal and admlnlstratlve Informatlon Trustees Mr Olllsegun Araoye Mrs Olusola Abimbola Chairperson. MT Michael Adewuyui Address 38 Commercial Way, London, SE15 5JQ CHARITY REGISTION NUMBER: 1198162 Independent Examiners Solomon Allistar IMAATI 54 C3rriocca Business Park, Hellidon Close, Ardwick Manchester M124AH Bankers Zempler Bank
ADURA LO'GBA AGBARA KO MINISTRY (IT'S BY PRAYER NOT BY MIGHT MINISTRY) Report of the Trustees for the Year Ended 31st December 2023 The trustees are pleased to present their report together with the financial statements of the charity for the year ended 31 December 2023. Structure, Governance and Management Objectives and Activities Adura Lo'gba Agbara Ko Ministry Ilt's by Prayer not by Might Ministry l are to propagate the name of Our Lord jesus Christ. Christian Counselling, Advice, and Information In propagating the name of Our Lord jesus Christ, the parish engaged in evangelism, prayer sessions, spiritual counselling, advice, and information to the general public during regular weekly services. These extend to assisting members and non-members in housing and financial needs, the provision of regular 'Health Check, for all to attend and discuss them health problems and have medical check-up with volunteer Doctors and Nurses. This forum has been very helpful in dirtating early symptoms of sicknesses and illnesses and referring the affected to hospitals for treatment and cure. Financial assistance for charitable objects The parish donated generously to many individuals in need, such as destitute, the disabled and the sick in our society. We also rendered financial support to various organisations in 5UPPOrt of their own humanitarian and charitable activities Other Charitable activities Other charitable activities include spreading the Word of God among all nations and announcing the good news of the Kingdom of God to the poor in spirit. This was done through our Spiritual Worships which are open to the general public, revivals, healings, and evangelism which are conducted to stimulate spiritual awareness among the people, seminars and symposia which are organised for people to know and understand more about the Word of God Financial Sources The church income comes mainly frorn the weekly tithes and church building funds, other church contributions such as thanksgiving, annual conference, travel, and music funds.
Acquisitions for Mu5icial and IT equipment During the year under review, the church bought new musical instruments to aid in the objective of furthering their core charitable objective. We also purchased additional IT equipment for video conferencing. Statement of Trustees, responsibilities The Board of Trustees are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice. Charity law applicable to charities in Englandlwales requires the Board of Trustees to prepare financial statements for each financial year which gives 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 those financial statements the Board of Trustees have.. Selected suitable accounting policies and applied them consistentlv. Made judgments and estimates that are reasonable and prudent, Stated whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements- and Prepared the financial statements on a going concern basis lunless it is inappropriate to presume that the Charity will continue in operation). The Board of Trustees has overall responsibility for ensuring that the Charity has an appropriate system of controls, financial and otherwise. They are also responsible for keeping proper accounting records which 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 Charitie5 Act 1993. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the detection and prevention of fraud and other irregularities. The Board of Trustees is responsible for the maintenance and integrity of the corporate and financial information. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. Statement of disclosure of information to independent examiner
ADURA LO'GBA AGBARA KO MINISTRY (IT'S BY PRAYER NOT BY MIGHT MINISTRY) Report of the Trustees for the Year Ended 31st December 2023 We, as the Trustees of the Charity who held office at the date of approval of these finantial statements as set out on page 2 each confirm, so far as we are aware, that.. There is no relevant information of which the Charity's independent examiner are unaware- and we have taken all the steps that we ought to have taken as Trustees in order to rllake ourselves aware of any relevant information and to establish that the charity's independent examiner is aware of that information. Independent Examiner.. The Charity's independent examiner, Solomon Allistar IMAATI of SAA BUSINESS SUPPORT LTD has indicated their willingness to continue in office and offer themselves for appointment. This report was approved by the Trustees on and signed on their behalf by.. Mroluse nAr ye 2SI0912024 Chairmannrustee
ADURA LO'GBA AGBARA KO MINISTRY (IT'S BY PRAYER NOT BY MIGHT MINISTRY) Independent Examinerfs Report for the Year Ended 31st December 2023 I report on the financial statements of the charity for the year ended 31 December 2023 which comprise the Statement of Financial Activities and Balance Sheet with associate notes. Thi5 report Is made solely to the charity's Trustees, as a body, in accordance with section 145 of the Charities Act 2011 and regulations made under section 154 of that Act. My work has been undertaken so that I might state to the charity's Trustees those matters l am required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's Trustees a5 a body, for my examination work. Respectlve Responslbllltles of Trustees and Examlner The charity's Trustees are responsible for the preparation of the financial statements. and they consider that an audit is not required for this year under section 144121 of the Charities Act 2011 (the Act) and that an independent examination is needed. It is my responsibility to.. Examine the accounts (under Section 145 of the Charities Act). To follow the procedures laid down in the General Directions given by the Charity Commissioners (under Section 14515llbl of the Charities Act),. and To state whether matters have come to my attention. Basis of Independent Examiner's report My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the Group/Charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, 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 statement below. Independent Examlner's statement In connection with my examination, no matter has come to my attention.. 11 which gives me reasonable cause to believe that in any material respert the requirements- to keep accounting records in accordance with section 130 of the Act; and to prepare financial statements which accord with the accounting records and comply with the accounting requirements of the Act have not been met,. or
21 to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached. SOLOMON ALLISTAR IMAATI 2510912024
ADURA LO'GBA AGBARA KO MINISTRY (IT'S BY PRAYER NOT BY MIGHT MINISTRY) Statement of financial activities for the year ended 31st December 2023. Unrestricted Restricted Total FuThd5 Tot#] FuThds 2023 2023 2023 2022 Notes Incoming Resourecs General offerings Gift Aid 6.072.60 26.217.50 32,290.10 43,500.00 Grants Total Jncomlng Resources 6.072.60 26.217.50 32,290.10 43,506.00 Resources cxpended Dlreet charitable expenditure Governanee eosts 3,223.50 26,217.50 29,441.00 38,53.00 li Total resourees expended 3.723.50 26.217.50 29,941.00 39,853.00 Movement in total fund for the J'ear- Net inc0e I (expeThditure) for the year 2,349.10 4J53.0 Net Gain (Los50 on investment 2,349.10 4 J53.01 Fund Bal blf 2,349.10 4,3S3.00 Fund Bal clf 4 J53.01
ADURA LO'GBA AGBARA KO MINISTRY (IT'S BY PRAYER NOT BY MIGHT MINISTRY) Balance sheet as of 31st December 2023. 2023 2023 2022 2022 Note5 FIXED ASSETS Tangible assets CURRENT ASSETS 12 14,527.20 15,760.00 Debtor5 13 500 328.IkO Casb at bankl cash in hand 2,349.11 3,325.00 CREDITORS amounts fAlling due wlihln one year NET CURRENT ASSETS 2,849.10 3,653.00 TOT.4L ASSETS LESS CURRENT LIABILITES 17,376.30 19,413.00 CREDITORS amounts falling due more than >'ear 13 1,200.110 NET ASSETS 16,176.30 17,863.00 CHARITY FUNDS urestrIcted funds 16,176.30 17,863.00 TOTAL FUNDS 16,176.30 17,863.00
ADURA LO'GBA AGBARA KO MINISTRY (IT'S BY PRAYER NOT BY MIGHT MINISTRY) Notes to the Financial Statement for the Year Ended 31st December 2023 l. Accounting policies The principal accounting policies are set out below. The accounting policies have been adopted consistently throughout the year. a) Basis of accounting The financial statements have been prepared under the historical cost convention, as modified by the revaluation of certain fixed assets, and are in accordance with the Statement of Recommended Practice.. Accounting and Reporting by Charities issued in March 2005 and the Financial Reporting Standard for Smaller Entities {effective April 2008}. b) Incoming resources from generated funds Incoming resources from generated funds represents donations lowards weekly tithes, church building fund, thanksgiving, annual conference, travel and other contributions ¢) Incoining r¢sources' Int¢r¢st r¢¢¢ivabl¢ Interest is crediced in the year in which it is received. d) Resources expended Expenditure is recognised when a liability is incurred. Funding provided through contractual agreements and perfonnance related grants are recognised as services are supplied. Other grant payments are recognised when a constructive obligation arises that results in the payment being unavoidable. Costs of generating funds are those costs incurred in attracting voluntary income, and those incurred in activities that raise funds. Grants payable are payments made to third parties in the furtherance of the charitable objectives of the Trust. Single or multi-year grants are accounted for when either the recipient has a reasonable expectation that they will receive a grant and the trustees have agreed to pay the grant without condition, or the recipient has a r¢asonabl¢ exp¢ctation that they will r¢¢eiv¢ a grant and any condition attaching to the grant is outqide of the control of the Trn.8t. Provisions for grants are made when the intention to make a grant has been communicated to the recipient but there is uncertainty about either the timing of the grant or the amount of grant payable. Governance costs include those incurred in the governance of its assets and are prirnarily associated with constitutional and statutory requirements. Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources. Depreciation Dcprcciation is calculated at rates estimated to write off the cost of all iangible fixed
ass¢ts over th¢ir ¢xpected us¢ful liv¢s'. Equipment, Fixtures and Fitting- 200/. During the year under review, the church decided to continue to separale its equipment from ils furniture fixtures and fillings. A depreciation rate of 20 % was (Ipplicd on each catcgory on a rcducing balance basis. e) Fund structure The principal accounting polici¢.8 ar¢ .8¢t out below. The a¢¢ounting poli¢i¢s hav¢ b¢en adopted consisteiitly throughout the year. The fijnds held by the charity are either: Unrestricted general fi]nds - these are funds which can be used in accordance with the charitable objects at the discretion of the trustees. Designated funds - these are funds earmarked by the tTUStees out of unrestricted general funds for specific future purposes or projects. Restricted funds - these are funds that can only be used for restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for restricted puryoses. Endowincnt funds - thcsc arc funds that rcprcscnt asscts which must bc hcld pern)anently by the charity. Iiieome arising on the endowmeiit fund Can be used in accordance with the objeet% of the Lharity and 1% inLluded in unrestricted ineoine. Any capital gains or losses arising on the investments forni part of the fund. Investment n]anagement charges and legal advice relating to the fund are charged against the tund. fj VAT The charity is not registered for VAT and accordingly expenditure includes VAT were appropriate. 2 Income resources Income comprises of donations and tithes 3 Employee information None of the Irustees received any remuneration or reimbuTsement of expenses during the year. 4 Net ineome resources This is stated after charging 2023 2022 POST Depreciation 3,631.80 3,940.00 5 Taxation The charity is exempt from corporation tax on its charily.
6 Tangible fixed assets Equipment Fixtures and fittings Total Cost: At l January 2023 Additions 15,760.00 2J99.00 18,159.00 15,760.00 2,399.00 18,159.00 At 31 Deeember 2023 Depreciation At l January 2023 Provision for year At 31 December 2023 3,631.80 3,631.80 3,631.80 3,631.80 NET BOOK VALUE 14,527.20 14,527.20 7 Debtors 2023 2022 Prepayment and loans 500.00 8 Creditors: amounts falling due more than one year 2023 2022 Other Creditors 1200.OU 8 Creditors: amounts falling due Ivithin one year 2023 2022 Other Creditors
Income and Expense Statement INCOME Voluntary Donations TOTAL ILNCOME 32,290.10 EXPENSES Hall hiTe 7,200.00 699.00 Computers Clothings Travel 2,600.00 2,400.00 i 0,000.00 150.00 Grants Misccllancous Admin Cost 440.00 Professional Fees 500.00 Subsistence 352.00 Musical instrument Evangelism 1,700.00 3,900.00 Total Expenses 29,941.00 Suryilus 2,349.10