SUCCESS TEMPLE
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31[st] JANUARY 2025
CHARITY NUMBER: 1198449
SUCCESS TEMPLE 69 STAMFORD AVENUE SPRINGFIELD MILTON KEYNES MK6 3LD
INDEX Page Legal & Administrative Details 1 Trustee’s Report 2-3 Independent Examiner’s Report 4 Statement of Financial Activities 5 Balance Sheet 6 Notes on the financial Statements 7 - 10
SUCCESS TEMPLE
LEGAL & ADMINISTRATIVE DETAILS YEAR ENDED 31[ST] JANUARY 2025
ADDRESS FOR CORRESPONDENCE
69 STAMFORD AVENUE SPRINGFIELD MILTON KEYNES MK6 3LD
REGISTERED CHARITY NUMBER
1198449
GOVERNING DOCUMENT
CONSTITUTION ADOPTED 4[TH] JANUARY 2011.
TRUSTEES/ DIRECTORS
MR PETER BAFFOE
REV DR CLINT-OSWALD SAFO-BUABEN MRS TRUDY-WHITE ACHEAMPONG MICHAEL OPOKU BOATENG
PRINCIPAL BANKERS
NATWEST BANK 501 SILBURY ROAD BLVD MILTON KEYNES MK9 3ER
INDEPENDENT EXAMINER
FRESH FIRE ORGANISATION GENERATOR BUSINESS CENTRE 95 MILES ROAD MITCHAM CR4 3FH
1
SUCCESS TEMPLE
TRUSTEES’ REPORT YEAR ENDED 31[ST] JANUARY 2025
The trustees are pleased to present their report for the year ended 31[st] January 2025 for the charity Success Temple with charity number 1198449
.
The Trustees of the charity are: Mr Peter Baffoe
Rev Dr Clint – Oswald Safo- Buaben Mrs Trudy- White Acheampong Mr Michael Opoku Boateng
The principal address of the charity is : 69 StamfordAvenue Springfield Milton Keynes MK6 3LD
STRUCTURE, GOVERNANCE AND MANAGEMENT
The Charity governing document is a constitution that was adopted 4[th] January 2011.The Charity is governed by a board on which the trustees are represented. It meets regularly to review, plan activities and monitor the financial position.
OBJECTIVES AND ACTIVITIES
The Objects of the organisation are first to advance the Christian faith in accordance with the statement of beliefs for the benefit in the United Kingdom and in such other parts of the world as the trustees may think fit from time to time. The trustees confirm that they have had due regard to the guidance issued by the Charity Commission on public benefit before deciding what activities the charity should undertake.
ACHIEVMENTS AND PERFORMANCE
The Organisation continues to hold successful meetings through the year in which individuals were equipped and educated on the principles and doctrines of the Christian faith. The charity continues to host its services and meetings in its new premises.
2
FINANCIAL REVIEW
The income of the charity is above £44000. This is a good amount for this year of the charity the costs have been well managed over this period. The organisation is still in a good position to manage its costs. The main cost was spent on acquiring and renovating new property for its worship services.
RESERVE POLICY
It is the policy of the Charity to maintain unrestricted funds, which are the reserves of the charity at about 3 months of unrestricted expenditure. This provides sufficient funds to cover any emergency expenditures that may arise from time to time. The charity will seek to maintain this level throughout the year.
RISK MANAGEMENT
The charity have assessed all the major risks to which the charity is exposed to, in particular those related to operations and finances of the charity, and are satisfied that systems are in place to mitigate exposure to major risks.
TRUSTEE RESPONSIBILITIES
Under the Charities Act 2011,the trustees are required to prepare a statement of accounts for each accounting year which gives a true and fair view of the state of the church. They are required to:
-
Select suitable accounting policies and apply them consistently.
-
Make judgements and estimates that are reasonable and prudent.
-
State whether the applicable accounting standards have been followed.
-
Prepare financial statements on an ongoing basis.
They are responsible for keeping proper records which disclose with reasonable accuracy the finances of the church at any time and to ensure that such accounts comply with the Charities Act 2011.They also have a responsibility to safeguard the assets of the church and to take reasonable steps to detect fraud or other irregularities.
Approved by the Trustees on 9th October 2024 and signed on their behalf by:
3
Independent Examiner’s Report To the Trustees
SUCCESS TEMPLE
I report on the accounts of the church for the year ended 31[st] January 2025 set out on the following pages which have been prepared on the basis of the accounting policies shown in the corresponding pages.
Respective responsibilities of trustees and examiner
The trustees of the church are responsible for the preparation of accounts: they consider that the audit requirement under section 144(2) of the Charities Act 2011 (the 2011 Act),does not apply. It is my responsibility to :
-
Examine the accounts under section 145 of the 2011 Act.
-
Follow the procedures laid down in the General Directions given by the Charity Commissioners made under section 145(5)(b) of the 2011 Act.
-
State whether particular 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 church 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 I do not express an audit opinion on the view given by the accounts.
Independent examiner’s statement
In the course of my examination, no matter has come to my attention;
-
(1) which gives me reasonable cause to believe that, in any material aspect, the trustees have not met the requirements to ensure that:
-
proper accounting records are kept( in accordance with section 130 of the 2011 Act
-
accounts are prepared which agree with the accounting records and comply with the accounting requirements of the 2011 Act: or
-
(2) to which , in my opinion , attention should be drawn in order to enable a proper understanding of the accounts to be reached.
CHUKS AJUKA BSc(Man), FICB PM.Dip FRESH FIRE ORGANISATION 95 Miles Road Mitcham Surrey CR4 3FH
4
SUCCESS TEMPLE
Statement of Financial Activities for the year ended 31st January 2025
| Unrestricted | Unrestricted | Unrestricted | Total Funds | Total Funds | |
|---|---|---|---|---|---|
| Funds | 2025 | 2024 | |||
| Incoming ResourcesNote | £ | £ | £ | ||
| from generated funds | |||||
| Donations and Legacie | 2 | 44000 | 44000 | 41682 | |
| Investment income | 3 | 0 | 0 | 0 | |
| ___ ___ ______ |
|||||
| 44000 | 44000 | 41682 | |||
| Other Income | ______ | ||||
| Total Incoming | 44000 | 44000 | 41682 | ||
| Resources | |||||
| ______ | |||||
| Resources Expended | |||||
| Charitable activities in furtherance of objectives | |||||
| Charitable Activities | 6 | 31,455 | 31,455 | 31,455 | |
| Other | 4 | 12545 | 12545 | 0 | |
| Total Resources | 44,000 | 44,000 | 31455 | ||
| Expended | |||||
| Net movement in funds | 0 | 0 | 10,227 | ||
| Reconciliation of Funds | |||||
| Total Funds brought forward | 10227 | 10227 | 0 | ||
| Total Funds carried forward | 10,227 | 10,227 | 10227 |
The above funds are all classed as to purpose All movements of funds and all recognised gains and losses are included above.
The notes on the accounts form part of these accounts.
5
SUCCESS TEMPLE Balance Sheet as at 31st January 2025
| Note 2025 Fixed Assets £ Tangible fixed assets 5 588021 _ 588021 _ Current Assets Cash at bank and 5627 in hand Debtors & prepayments 0 5627 Creditors:amounts falling due within one year Creditors & accruals 8 30860 _ Net Current Assets -25233 _ Creditors:amounts fallng due after one year Creditors 9 552561 Net Assets 10227 Unrestricted Funds 10227 _ TOTAL FUNDS 10227 _ |
2024 588021 |
|
|---|---|---|
| __ |
_ 588021 |
|
| __ | _ 3098 0 |
|
| 3098 18104 |
||
| __ |
_ -15006 |
|
| __ |
_ 562788 10227 10227 |
|
| _ 10227 _ |
Approved by the trustees on 23rd October 2025 and signed on their behalf by :
The notes on these accounts form part of these accounts
6
SUCCESS TEMPLE NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31[ST] JANUARY 2025
1) Accounting Policies
These accounts have been prepared under the historic cost convention with items Recognised at cost or transaction values otherwise stated in the relevant note(s) to These accounts. The accounts have been prepared in accordance with: The Statement of Recommended Practice: Accounting and Reporting by Charities Preparing their accounts in accordance with the Financial Reporting Standard Applicable in the UK and Republic of Ireland (FRS102) issued on 16 July 2014.
1.1 Going Concern: The accounts are prepared on a going concern basis. 1.2 The accounts present a true and fair view and no change have been made to the accounting policies adopted.
1.3 No changes to the accounting estimates have occurred in the reporting period
- 1.5 No material prior year error have been identified in the reporting period.
Recognition of Income
These are included in the Statement of Financial Activities (SOFA) when:
-
The charity becomes entitled to resources;
-
It is more likely than not that the trustees will receive the resources;
-
The monetary value can be measured with sufficient reliability.
Grants and Donations
Grants and Donations are only included in the SOFA when the general income recognition criteria are met (5.10 to 512 FRS102 SORP)
- .
Tax reclaim on donations and gifts
Gift Aid receivable is included in the income when there is a valid declaration from the donor. Any gift aid amount recovered on a donation is considered to be part of that gift and is treated in addition to the same fund as the initial donation unless the donor or the terms of the appeal have specified otherwise.
EXPENDITURE AND LIABILITIES
Liability Recognition
Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty.
Grants and Support Costs
Support costs have been allocated between the governance costs and other support. Governance costs comprise all costs involving public accountability of the charity and its compliance with regulation and good practice.
7
SUCCESS TEMPLE NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31[ST] JANUARY 2025
Creditors
The charity has creditors which are measured at settlement amounts less any trade discounts.
ASSETS
Tangible Fixed Assets for use by the charity
They are capitalised if they can be used for more than one year. They are valued at cost. The depreciation is calculated at 20% reducing balance method.
Debtors
Debtors are measured on initial recognition at settlement amount. Subsequently they are measured at cash.
.
8
SUCCESS TEMPLE
Notes to the accounts for year ended 31st January 2025
Voluntary Income/ Other Income
| Unrestricted | Unrestricted | Unrestricted | Total funds | Total funds | ||||
|---|---|---|---|---|---|---|---|---|
| Funds | 2025 | 2024 | ||||||
| Church collections | £ | £ | £ | |||||
| Tithes & Offerings | 44000 | 44000 | 41682 | |||||
| ______ | ||||||||
| Total | 44000 | 44000 | 41682 | |||||
| ______ | ||||||||
| Investment income | ||||||||
| Unrestricted | Total funds | |||||||
| Funds £ | 2025/£ | 2024/£ | ||||||
| Bank Interest | 0 | 0 | 0 | |||||
| Cost of generating | funds | amount £/2025 | amount £/2024 | |||||
| Missions | 0 | 0 | ||||||
| Grants to individuals<£1000 | 0 | 0 | ||||||
| Speakers expenses | 0 | 0 | ||||||
| Charity donation | 12545 | 0 | ||||||
| ___ | ||||||||
| Total | 12545 | 0 | ||||||
| Tangible Fixed Assets | ||||||||
| Land | Instrument | Minibus | Equipment Fix& Fitt | Total 2025 | ||||
| Cost | £ | £ | £ | £ | £ | £ | ||
| At 01/02/2024 | 588021 | 0 | 0 | 0 | 0 | 588021 | ||
| Additions | 0 | 0 | 0 | 0 | 0 | 0 | ||
| At 31/01/2025 | 588021 | 0 | 0 | 0 | 0 | 588021 | ||
| Depreciation | ||||||||
| At 01/02/2024 | 0 | 0 | 0 | 0 | 0 | 0 | ||
| charge for the year | 0 | 0 | 0 | 0 | 0 | 0 | ||
| At 31/01/2025 | 0 | 0 | 0 | 0 | 0 | 0 | ||
| NBV 31/01/2025 | 588021 | 0 | 0 | 0 | 0 | 588021 | ||
| NBV 01/02/2024 | 588021 | 0 | 0 | 0 | 0 | 588021 | ||
| 9 |
SUCCESS TEMPLE Notes to the accounts for year ended 31st January 2025
| **6 ** | Cost of Activities in | furtherance of Charity's Objectives | furtherance of Charity's Objectives |
|---|---|---|---|
| 2025/£ | 2024/£ | ||
| Legal & Professional | |||
| Bank Interest | 31455 | 31455 | |
| Card services | |||
| Cleaning | |||
| Events | |||
| Travel | |||
| Salary | |||
| Rates | |||
| Light & Heat | |||
| Property costs | |||
| Refreshments | |||
| Decoration | |||
| Repairs & Maintenance | |||
| Professional fees | |||
| Depreciation | |||
| Bank charges | |||
| Insurance | |||
| Welfare | |||
| Total | 31455 | 31455 |
Trustee Remuneration
All work was undertaken by volunteers. No trustee received any remuneration from the organisation.
| **8 ** | Credtors: amounts falling due within one year | 2025/£ | 2024/£ |
|---|---|---|---|
| Creditors | 30860 | 18104 | |
| Independent Examination | 0 | ||
| Total | 30860 | 18104 | |
| **9 ** | Creditors: amounts falling after one year | ||
| Mortgage | 552561 | 562788 |
10