# **ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED**
# **30 September 2024**
# **KINGDOM FAITH MINISTRIES INTERNATIONAL**
**CHARITY REGISTRATION No: 1198505**
Independent Examiners Ltd Unit 2 The Broadbridge Business Centre Delling Lane Bosham PO18 8NF
1
## **KINGDOM FAITH MINISTRIES INTERNATIONAL**
## **CONTENTS**
|Page 3|Legal and Administrative Information|
|---|---|
|Pages 4 to 6|Trustees Report|
|Page 7|Independent Examiner's Report to the Trustees|
|Page 8|Statement of Financial Activities|
|Page 9|Balance Sheet|
|Pages 10 to 15|Notes to the Financial Statements|
2
## **KINGDOM FAITH MINISTRIES INTERNATIONAL**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
**CHARITY NUMBER** 1198505 **LEGAL STATUS** CIO **DATE OF REGISTRATION** 4th April 2022 **START OF FINANCIAL PERIOD** 1st October 2023 **END OF FINANCIAL PERIOD** 30 September 2024
**TRUSTEES AT END OF FINANCIAL PERIOD** Reverand Daniel Mateola Ruth Mateola Alun Leppett Paul Dewar (resigned 20 August 2024) Tola Odukomaiya (appointed 23 April 2024) Victor Makinde (appointed 24 September 2024)
**REGISTERED ADDRESS** 2A Blackhill Drive Wolverton Mill Milton Keynes MK12 5TS http://www.kfmi.org.uk/
**PRIMARY BANKERS** SANTANDER BANK PLC
## **INDEPENDENT EXAMINER**
K Gomes Independent Examiners Ltd Unit 2,The Broadfields Business Centre Delling Lane Bosham PO18 8NF
3
## **KINGDOM FAITH MINISTRIES INTERNATIONAL**
## **TRUSTEES REPORT FOR YEAR ENDED 30 SEPTEMBER 2024**
## **STRUTURE, GOVERNANCE AND MANAGEMENT**
## **Governing Document**
Kingdom Faith Ministries International is a charity originally created by Trust Deed and is now re-registered as a CIO with the Charity Commission. The CIO took over operations from the Trust on 1[st] October 2022. KFMI has continued to run as a CIO till date.
## **Aims and Objectives**
The charity is established to provide an enabling environment for worshipping God, and to advance the Christian faith. This is achieved by evangelizing to the community, demonstrating the love of God, facilitating fellowship meetings and discipling congregants through the word of God.
## **The objectives are.**
- To preach and demonstrate the gospel of the kingdom of God and thus facilitate the restoration of lost royals back to God’s royal family, their royal status, inheritance, and power to fulfil their earthly assignment.
- The advancement of the Christian Faith for the benefit of the public through the holding of prayer meetings, seminars, producing and or disturbing literature on Christian Faith to enlighten others about the Christian religion.
## **Activities**
**1.** Regular outreach programs are organized to demonstrate God’s love to the members of the community. **2.** Weekly bible studies and discussions.
**3.** Weekly prayer meeting, praying for the community, governments, and members.
**4.** Pastoral counselling sessions to help individuals or families in need of help.
## **MINISTRY PROGRESS REPORT**
The following is an account of the activities, events, and general progress of the Kingdom Faith Ministries International. The ministry continues to establish and develop her objectives of preaching the Word of God, training and developing people to be impactful and relevant people in the society and equipping members with both spiritual and intellectual upliftment, which are at present the primary activities of the ministry.
## **MEMBERSHIP**
The church membership has been growing at a decent rate. This is due to the ministry offered and its impact in the lives of parishioners and people in the community.
## **NURTURING THE CHURCH**
The following meetings are held weekly, fortnightly, or monthly:
- Glory Worship Service (Every Sunday)
- Midweek Bible Study & Prayer Service (Every Wednesday)
- Worship Night (Last Fridays of the Month)
- Intercessory Prayer Meeting (Every Friday)
- Leader’s training meeting (Fortnightly)
- Community Outreaches (monthly on Saturdays)
## **YOUTH & TEEENAGE MINISTRY**
The Kingdom Faith Ministries International have an established ministry for teenagers between the ages of 14-19 called “Young Royals” to guide them and help teenagers discover themselves in the faith and grow in the knowledge of God. The ministry also recently established a ministry for young adults between the age of 20-29 called “xStart”.
4
The purpose of this is to help young adults to have an excellent start in their adult life. They are encouraged to discover their God ordained purpose and become the best man or woman they can be, making positive impact in their world.
## **CHILDREN’S MINISTRY**
The children’s ministry (King’s Kids) continues to disciple children. Every Sunday there are 4 classes running for the age groups ‘0-2’, ‘3-5’, ‘6-9’ and ‘10-13’ where the children get the opportunity to learn bible teachings, good morals and values and have a wonderful experience with other children.
## **ACHIEVEMENTS AND PERFORMANCE**
Over the financial year, the ministry has achieved several milestones which have contributed to the ministry's goal of impacting lives both in Milton Keynes and globally. Some of these milestones include:
1. the purchase and refurbishment of its property in Milton Keynes costing approx. £800,000 and refurbishment approximately £100,000;
2. fulfilling the Kings on a Mission goal by organizing various global mission trips aimed at spreading the gospel of the Kingdom of God with funding at approximately £24,000;
3. Supporting families and members of the congregation that experience challenges during the year with financially to the value of £9,000;
4. the launch of the KFMI Church MK website and mobile app, and the expansion of the online School of Ministry programs.
## **TRUSTEE MEETING**
The Trustees hold meetings twice every year during which the progress of the ministry is discussed and plans to increase, train, and equip its members are explored. Also, initiatives on how to have a positive impact in the community are discussed in the meetings. Financial matters and asset acquisition are also discussed.
## **GENERAL INFORMATION**
## **PLACE OF WORSHIP AND OFFICE**
The Charity currently facilitates it programs from our newly acquired church building (The Miracle Centre) with capacity to sit up to 200 people. The office activities and all meetings take place at this new building.
## **CONCLUSION**
The commitment of the members to the vision of Kingdom Faith Ministries International has allowed us to maintain a vibrant, multi-cultural and healthy environment for spiritual and natural growth. We are proud of this growth and will continuously work to meet the goals and objectivities of the ministry and the divine purpose God has for this church. We are grateful unto God for how far God has brought us.
## **FINANCIAL REVIEW AND RESERVES POLICY**
The income of the charity for the year was £434,695 (this figure includes building fund income) by way of Donations. The cost of charitable activities was £388,225. This was spent directly and indirectly to support the charities activities. At the end of the year, 30 September 2024, there was an unrestricted fund balance amounting to £914,009 and restricted fund closing balance of £14,114.
The charity’s policy is to retain reserves, to a level where they equate in value to at least approximately 12 months’ expenditure. This should provide a reasonably secure financial base on which to plan future projects and commit to related expenditure before external funding has been fully secured. The charity is reviewing its reserves policy so that the charity will be able to continue its current level of activities in the event of a significant drop in funding.
5
## **STATEMENT OF TRUSTEES RESPONSIBILITIES**
The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
The law applicable to charities requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the Trustees are required to:
• select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
• state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The Trustees are responsible for keeping proper accounting records that 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 Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008, and the provisions of the constitution. The Trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The annual report was approved by the Trustees of the charity and signed on its behalf by:
## 3rd July 2025
Approved by the Trustees on: ……………………………..…….……………
Signed on their behalf by Trustee: …………………………………………………………………….
Print Name:
6
## **INDEPENDENT EXAMINER’S REPORT ON THE ACCOUNTS**
I report to the charity trustees on my examination of the accounts Kingdom Faith Ministries International for the period to 30th September 24 set out on pages 8 to 15.
## **Respective responsibilities of trustees and examiner**
As the charity’s Trustees of Kingdom Faith Ministries International you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of Kingdom Faith Ministries International 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 accounts 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. Respective responsibilities of Trustees and examiner
## **Independent examiner's statement**
Since Kingdom Faith Ministries International gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a fellow member of the Association of Charity Independent Examiners, which is one of the listed bodies.
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 respect of Kingdom Faith Ministries International as required by section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements concerning the form and contents of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view' which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (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 accounts to be reached.
K Gomes MAAT FCIE Independent Examiners Ltd Unit 2,The Broadfields Business Centre Delling Lane Bosham PO18 8NF
Signed Date: 10.7.25
7
## **KINGDOM FAITH MINISTRIES INTERNATIONAL**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD TO 30 SEPTEMBER 2024**
|**Notes**
**INCOMING RESOURCES**
Incoming Resources from Generated Funds
Donations & Legacies
**3a**
**TOTAL INCOMING RESOURCES**
**RESOURCES EXPENDED**
Cost of Generating Funds
Costs of Charitable Activities
**4a**
**TOTAL RESOURCES EXPENDED**
**NET INCOMING/(OUTGOING)**
**Funds transfer**
**TOTAL FUNDS CARRIED FORWARD**
Total Funds Brought Forward|General
Restricted
**TOTAL**
**TOTAL**
Funds
Funds
**30/09/2024**
**30/09/2023**
£
£
£
£
356,281
78,414
434,695
481,126|
|---|---|
||**356,281**
**78,414**
**434,695**
**481,126**|
||334,427
53,798
388,225
282,826|
||**334,427**
**53,798**
**388,225**
**282,826**|
||**21,854**
**24,616**
**46,470**
**198,300**
311,250
(311,250)
580,905
300,748
881,653
683,353|
||**914,009**
**14,114**
**928,123**
**881,653**|
Movements on all reserves and all recognised gains and losses are shown above. All of the organisation's operations are classed as continuing.
The notes on pages 10 to 15 form part of these financial statements.
8
## **KINGDOM FAITH MINISTRIES INTERNATIONAL**
## **BALANCE SHEET**
## **AS AT 31 SEPTEMBER 2024**
|**Note**
**Fixed Assets**
Tangible Assets
**2**
**Current Assets**
Debtors & Prepayments
**7**
Cash at Bank and in Hand
**6**
**Total Current Assets**
**Creditors:**Amounts due within one year
**8**
**NET CURRENT ASSETS**
**TOTAL ASSETS**less current liabilities
Long Term Liabilities
**9**
**NET ASSETS**
**Funds of the Charity**
General Funds
Restricted Funds
**5**|General
Restricted
**Total**
**Total**
Funds
Funds
**30-Sep-24**
**30-Sep-23**
£
£
**£**
**£**
734,369
-
734,369
10,358|
|---|---|
||**734,369**
**-**
**734,369**
**10,358**|
||84,334
-
84,334
-
548,128
14,114
562,242
885,247|
||**632,462**
**14,114**
**646,576**
**885,247**|
||14,072
-
14,072
13,952
618,390
14,114
632,504
871,295|
||**1,352,759**
**14,114**
**1,366,873**
**881,653**
438,750
-
438,750
-|
||**914,009**
**14,114**
**928,123**
**881,653**|
||914,009
-
914,009
580,905
-
14,114
14,114
300,748|
||**914,009**
**14,114**
**928,123**
**881,653**|
3rd July 2025 Approved by the Trustees on :
Signed on their behalf by Trustee :
Print Name: DANIEL MATEOLA
9
## **KINGDOM FAITH MINISTRIES INTERNATIONAL**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **FOR THE PERIOD TO 30 SEPTEMBER 2024**
## **1. ACCOUNTING POLICIES**
## **Basis of Preparation & Assessment of Going Concern**
## **Basis of Preparation**
The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes. The financial statements 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) (effective 1 January 2015) - (Charities SORP - FRS102) and the Charities Act 2011.
The Charity meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost unless otherwise stated in the relevant accounting policy notes.
## **Assessment of Going Concern**
Preparation of the accounts is on a going concern basis. The trustees consider that there are no material uncertainties about the Charity’s ability to continue as a going concern.
## **Incoming Resources**
## _**Recognition of Incoming Resources**_
These are included in the Statement of Financial Activities (SOFA) when:
▪ the charity becomes entitled to the resources;
▪ the trustees are virtually certain they will receive the resources; and
▪ the monetary value can be measured with sufficient reliability
## _**Incoming Resources with Related Expenditure**_
Where incoming resources have related expenditure (as with fundraising or contract income) the incoming resource and related expenditure are reported gross in the SOFA.
## _**Grants and Donations**_
Grants and Donations are only included in the SOFA when the charity has unconditional entitlement to the resources.
## _**Tax Reclaims on Donations and Gifts**_
Incoming resources from tax reclaims are included in the SOFA at the same time as the gift to which they relate.
## _**Contractual Income and Performance Related Grants**_
This is only included in the SOFA once the related goods or services has been delivered.
## _**Gifts in Kind**_
Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised. Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or distributed by the charity. Gifts in kind for use by the charity are included in the SOFA as incoming resources when receivable.
## _**Donated Services and Facilities**_
These are only included in incoming resources (with an equivalent amount in resources expended) where the benefit to the charity is reasonably quantifiable, measurable and material. The value placed on these resources is the estimated value to the charity of the service or facility received.
## _**Volunteer Help**_
The value of any voluntary help received is not included in the accounts but is described in the trustees' annual report.
## _**Investment Income**_
This is included in the accounts when receivable.
## _**Investment Gains and Losses**_
This included any gain or loss on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year.
10
## **KINGDOM FAITH MINISTRIES INTERNATIONAL**
## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE PERIOD TO 30 SEPTEMBER 2024**
## **1. ACCOUNTING POLICIES (Continued)**
## **Expenditure and Liabilities**
## _**Liability Recognition**_
Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources.
## _**Governance Costs**_
Include costs of the preparation and examination of statutory accounts, the costs of the trustees' meetings and cost of any legal advice to trustees on governance or constitutional matters.
## _**Grants with Performance Conditions**_
Where the charity gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SOFA once the recipient of the grant has provided the specified service or output.
## _**Grants Payable without Performance Conditions**_
These are only recognised in the accounts when a commitment has been made and there are no conditions to be met relating to a grant which remain in control of the charity.
## _**Grants Payable**_
The Church makes grants to other organisations whose charitable objects complement its work. They are accounted for in the year in which they become payable.
## _**Support Costs**_
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of the resources, e.g. allocating property costs by floor areas, or per capital, staff costs by the time spent and other costs by their usage.
## _**Fixed Assets**_
Tangible fixed assets for use by the charity, these are capitalised if they can be used for more than one year and cost at least £1,500. They are valued at cost or, if gifted, at the value to the charity on receipt.
## _**Investments**_
Investments quoted on a recognised stock exchange are valued at market value at the year end. Other investment assets are included at trustees' best estimate of market value.
## _**Restricted Funds**_
Restricted funds are to be used for specified purposes as required by the donor. Expenditure which meets these criteria is allocated to the relevant fund. Income derived from these funds is retained within the funds concerned.
## _**Unrestricted Funds**_
Designated funds are unrestricted funds which the trustees have designated to be used for a specific purpose.
## _**Pensions**_
The church operates a defined benefit scheme for the benefit of the church minister and administrator. The contributions made into the scheme are accounted for as they are paid.
## _**Change of Accounting Policies and Rules and Methods of Valuation.**_
There has been no change to the accounting policies (valuation rules and methods of accounting) since last year.
## _**Depreciation Expense**_
Depreciation is calculated at a rate to write off the cost of tangible fixed assets over their estimated useful lives. The rates applied per annum are as follows:
Furniture & Fittings General Equipment
33% - Straight Line Basis 33% - Straight Line Basis
11
## **KINGDOM FAITH MINISTRIES INTERNATIONAL**
## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE PERIOD TO 30 SEPTEMBER 2024**
## **2. TANGIBLE FIXED ASSETS**
|Cost
01-Oct-23
Additions
Disposal
Cost at
30-Sep-24
Depreciation
01-Oct-23
Charge
Disposal
Depreciation at
30-Sep-24
Net Book Value
30-Sep-24
Net Book Value
30-Sep-23|Motor
Building
General
**Total**
Vehicle
Purchase
Equipment
**2023**
£
£
£
£
7,995
-
7,542
15,537
-
727,429
-
727,429
-
-
-
-|
|---|---|
||7,995
727,429
7,542
742,966|
||2,665
-
2,514
5,179
1,759
-
1,659
3,418
-
-
-
-|
||4,424
-
4,173
8,597|
||**3,571**
**727,429**
**3,369**
**734,369**|
||**7,995**
**-**
**2,363**
**10,358**|
A building was purchased in 2024 which was partly funded through donations and partly by a bank loan. The terms of these donations were met once the asset had been acquired, therefore allowing the charity to use the asset on an unrestricted basis for any charitable purpose.
The annual commitments under non-cancelling operating leases and capital commitments are as follows: 30 September 2023: None
12
## **KINGDOM FAITH MINISTRIES INTERNATIONAL**
## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE PERIOD TO 30 SEPTEMBER 2024**
## **3. INCOMING RESOURCES**
|**Note**
**a) Donations & Legacies**
Gifts & Offerings
Gift Aid Tax Refunds
Building Fund
Other Income
**4. RESOURCES EXPENDED**
**a) Costs of Charitable Activities**
**Note**
Advertising /Promotional
Bank Charges
Charity Giving
Building & Construction
Depreciation Costs
Equipment
Events
Honorarium ( Guests Gifts)
Hospitality
Independent Examination
Mission
Mortgage
Parsonage Gas/Electricity
Printing, Postage and Office Costs
Property Insurance
Professional Fees
Reimbursements
Rent
Repairs & Renewals
Salary Costs
10
Subscriptions
Support Costs
Telephone
Travel & Accommodation
Welfare|General
Restricted
**TOTAL**
**TOTAL**
Funds
Funds
**30-Sep-24**
**30-Sep-23**
£
£
£
£
263,812
-
263,812
296,623
90,902
-
90,902
82,636
550
78,414
78,964
98,108
1,017
-
1,017
3,759|
|---|---|
||**356,281**
**78,414**
**434,695**
**481,126**|
||General
Restricted
**TOTAL**
**TOTAL**
Funds
Funds
**30-Sep-24**
**30-Sep-23**
£
£
£
£
682
-
682
1,123
354
-
354
363
9,242
-
9,242
14,842
2,581
53,798
56,379
-
3,418
-
3,418
5,179
12,334
-
12,334
5,645
218
-
218
2,382
11,713
-
11,713
10,945
2,346
-
2,346
2,992
2,100
-
2,100
2,280
6,487
-
6,487
3,490
7,207
-
7,207
-
3,571
-
3,571
4,551
829
-
829
606
2,032
-
2,032
1,452
21,630
-
21,630
3,098
1,540
-
1,540
-
79,287
-
79,287
74,745
1,203
-
1,203
650
109,977
-
109,977
83,093
3,441
-
3,441
4,402
18,255
-
18,255
34,023
2,542
-
2,542
2,285
22,138
-
22,138
11,899
9,300
-
9,300
12,780|
||**334,427**
**53,798**
**388,225**
**282,826**|
13
## **KINGDOM FAITH MINISTRIES INTERNATIONAL**
## **NOTES TO THE FINANCIAL STATEMENTS (continued)**
## **FOR THE PERIOD TO 30 SEPTEMBER 2024**
|**5. RESTRICTED FUNDS**
**CURRENT FINANCIAL YEAR**
Building Fund
**PRIOR YEAR**
Building Fund|**Opening**
**Closing**
**Balance**
**Balance**
**01-Oct-23**
Income
Expenditure
Transfers
**30-Sep-24**
£
£
£
£
£
300,748
78,414
53,798
-
311,250
-
14,114|
|---|---|
||**300,748**
**78,414**
**53,798**
**-**
**311,250**
**-**
**14,114**|
||**Balance**
**01-Oct-22**
Income
Expenditure
Transfers
**30-Sep-23**
£
£
£
£
£
202,640
98,108
-
-
300,748|
||**202,640**
**98,108**
**-**
**-**
**300,748**|
The Restricted funds are represented by the Charity's cash reserves and are to be expended as specified above.
## **6. CASH AT BANK AND IN HAND**
|**6. CASH AT BANK AND IN HAND**|||||
|---|---|---|---|---|
||General|Restricted|**Total**|**Total**|
||Funds|Funds|**30-Sep-24**|**30-Sep-23**|
||£|£|**£**|**£**|
|Cash at Bank & in Hand|548,128|-|548,128|584,499|
|Building Fund|-|14,114|14,114|300,748|
||**548,128**|**14,114**|**562,242**|**885,247**|
|**7. DEBTORS AND PREPAYMENTS**|||||
||General|Restricted|**Total**|**Total**|
||Funds|Funds|**30-Sep-24**|**30-Sep-23**|
||£|£|**£**|**£**|
|Debtors|84,334|-|84,334|-|
||**84,334**|**-**|**84,334**|**-**|
|**8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**|||||
||General|Restricted|**Total**|**Total**|
||Funds|Funds|**30-Sep-24**|**30-Sep-23**|
||£|£|**£**|**£**|
|Independent Examination|2,100|-|2,100|1,980|
|Paye, Ní Taxation|11,972|-|11,972|11,972|
||**14,072**|**-**|**14,072**|**13,952**|
## **9. CREDITORS AND ACCRUALS: AMOUNTS FALLING DUE IN MORE THAN ONE YEAR**
|Mortgage|**Total**
**Total**
**30-Sep-24**
**30-Sep-23**
**£**
**£**|
|---|---|
||**438,750**
**-**|
14
## **KINGDOM FAITH MINISTRIES INTERNATIONAL**
## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE PERIOD TO 30 SEPTEMBER 2024**
|**10. STAFF COSTS AND NUMBERS**
Gross wages and salaries
Employers National Insurance Costs
Employers Pension contributions
Number of employees|**Total**
**Total**
**30-Sep-24**
**30-Sep-23**
**£**
**£**
109,977
75,121
8,686
6,398
1,357
1,574|
|---|---|
||120,020
83,093|
||6
6|
## **18. PAYMENTS TO TRUSTEES AND OTHER RELATED PARTY TRANSACTIONS**
Revd Daniel Mateola who is also a Trustee receives a Pastor’s salary of £40,000 per annum. An allowance payment was made to Trustee Ruth Mateola for £500. No other payments were made to trustees, or any persons connected with them during this financial period and no other material transaction took place between the organisation and a trustee or any person connected with them.
## **19. RESERVES POLICY**
The Trustees have considered the level of reserves they wish to retain, appropriate to the charity's needs. This is based on the charity's size and the level of financial commitments held. The Trustees aim to ensure the charity will be able to continue to fulfil its charitable objectives even if there is a temporary shortfall in income or unexpected expenditure. The trustees will endeavour not to set aside funds unnecessarily.
## **20. PUBLIC BENEFIT**
The Charity acknowledges its requirement to demonstrate clearly that it must have charitable purposes or ‘aims’ that are for the public benefit. Details of how the charity has achieved this are provided in the Trustees report. The Trustees confirm that they have paid due regard to the Charity Commission guidance on public benefit before deciding what activities the charity should undertake.
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