Registered Charity No - 1200564
GOD IS FAITHFUL BAPTIST CHURCH
For the Year Ended 31 December 2024
| CONTENTS | PAGE |
|---|---|
| Legal and Administrative Details | 3 |
| Trustees' Report | 4 |
| 7 | |
| Statement of Financial Activities | 8 |
| Balance Sheet | 9 |
| Notes to the Accounts | 10 |
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REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2024
| Trustees | 1. Dr Ayoade Olusegun Oyewale (Chair) |
|---|---|
| 2. Olufunmilola Adedoyin Oyewale | |
| 3. Femi Afonja | |
| 4. Dorcas Akinbode | |
| 5. Dr Enya Besa Ameza-Xemalordzo | |
| Charity registered Number | 1200564 |
| Date of Charitable Registration | 4thOctober 2022 |
| Principal office | 20 Rigby Street |
| Salford | |
| M7 4BJ | |
| Independent examiners | Accounting Assist Ltd C/o Good to Give Ltd |
| Bankers | Natwest Bank |
| Barclays Bank Plc |
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TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2024
The Board of Trustees, who are the trustees for charity law purposes, submit their annual report and the financial statement of God is Faithful Baptist Church for the year ended 31 December 2024. The Board of Trustees confirms that the annual report and financial statements of the Charity comply with current statutory requirements, the requirements of the Charity's governing document and the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities (revised 2005).
Structure, governance and management
The 5 Trustees are:
Dr Ayoade Olusegun Oyewale (Chair) Olufunmilola Adedoyin Oyewale Femi Afonja Dorcas Akinbode Dr Enya Besa Ameza-Xemalordzo
The Trustees play a primary role in ensuring good governance and functioning of the foundation. The ies are quite clearly defined.
Governing Document:
God is Faithful Baptist Church was formed on 4 October 2022 when they were registered as a charity.
Recruitment and appointment of trustees:
The members of the General Trustee Board are trustees for the purposes of charity law. New trustees may be appointed by resolution of a meeting of the trustees.
Much of the charity's work focuses upon the promotion of the Christian religion and the running and maintenance of its places of worship.
The General Trustee Board seeks to ensure that the needs of this group are appropriately reflected through the diversity of the trustee body. To enhance the potential pool of trustees, the charity has, through selective advertising and networking with voluntary organizations active in the sector, sought to identify those who would be willing to become members of the charity and use their own experience to assist the charity.
Risk Management:
We are committed to a policy of identifying, monitoring and managing the risks that might adversely affect the activities in which we are involved. In this context, risk is defined as the potential to fail to achieve charity objectives and for loss, financial and reputational, inherent in the environment in which we operate in the nature of the transactions undertaken.
The principal risk of the charity has been its dependence on voluntary income. Trustees have initiated various processes to mitigate such risk, so that the charity has sufficient reserve in the event of adverse condition(s). The trustees have also examined other operational and business risks which they face and confirm that they have taken steps to mitigate the significant risks.
Public Benefit:
The Trustees have complied with the duty in Section 4 of the Charities Act 2006 and have paid due regard to public benefit when preparing this report. The benefit provided to the public is consistent with the aims of the charity in UK.
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TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2024
Objectives and activities:
The principal purpose of the charity is the advancement of the Christian faith according to the principles of the Baptist denomination and this is carried out by the charity providing services and events where the members and public can attend.
Financial review:
The contribution to the charity for the year came from donations received from members. The charity began its charitable activities from October 2022.
The Charity currently aims to designate the total fund received less expenses for the main objective of the charity.
Plans for future periods:
The Charity will continue to hold its services and may look at other fundraising events in the future.
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 England/Wales 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:
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Selected suitable accounting policies and applied them consistently, Made judgments and estimates that are reasonable and prudent,
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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 (unless 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 Charities 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.
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TRusfEES' REPUK"I' FOR TIIE YEIIR ENDED 3] DF.e.F.1BER 2024 StaicmcDt of disclosure ofinfornlation lo indcp¢nd¢nt ¢x&min¢T IV¢. a5 the Tte¢S of tho Chariiy ivho hcld oifice at the date of appmvkl of these finaThcial $lalcm¢nts confinn, 50 far as ivc arc awarc. that: Thcre is no relcvani infomulion of which the Charity's independent examiner is Un3IV2re,' su)d w¢ havo iaken all the sleps ihat ive ought to have tak¢n as T51¢¢$ to mak¢ ourselves awarc of any relevant infonnation and 10 ¢5lablish thai th¢ charl$ independeni examiner is aware of ihal infomiation. Indepcndenl Ex4miner". Thc Chariiy's ind¢pcndcnl cxllmincr. Anum Has53n. FCCA of Accounting Assisi Ltd Clo Good to Givc Ltd, have indieat¢d their 1villine$S lo oller Ih¢mselves (or appoinlment. This Irpuil WI iiyyiuvul by thr Tiubitts on and Jisn¢d 9Th their b¢knlf by: Slgnature.... 61Page cs Camscanner
INDEPENDENT EXAMINER`S REPORT FOR THE YEAR ENDED 31 DECEMBER 2024
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF GOD IS FAITHFUL BAPTIST CHURCH.
I report on the financial statements of the charity for the year ended 31 December 2024 which comprise the Statement of Financial Activities and Balance Sheet with associate notes. This 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 I 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 as a body, for my examination work.
RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER
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 144(2) of the Charities Act 2011 (the Act) and that an independent examination is needed.
It is my responsibility to:
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Examine the accounts (under Section 145 of the Charities Act);
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To follow the procedures laid down in the General Directions given by the Charity Commissioners (under Section 145(5)(b) of the Charities Act); and
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To 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 Group/District 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
Independent Examiner's statement
In connection with my examination, no matter has come to my attention:
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1) which gives me reasonable cause to believe that in any material respect 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
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have not been met; or
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2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached.
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3) A few cheque payments made during the year could not be supported by receipts or formal documentation. Written trustee declarations were obtained, and the transactions appear consistent with the charity's objectives.
Signed: Dated: 01/08/2025
Anum Hassan, FCCA On behalf of Accounting Assist Ltd
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STATEMENT OF FINANCIAL ACTIVITIES
(Incorporating Income and expenditure account) FOR THE YEAR ENDED 31 DECEMBER 2024
----- Start of picture text -----
Total Total
Unrestricted Restricted
Funds Funds
2024 2024 2024 2023
Notes £ £ £ £
Incoming resources
Income and endowments from:
31,871 - 31,871 21,332
Donations and Legacies 2
4,628 - 4,628 -
Gift Aid
36,499 - 36,499 21,332
Total Incoming resources
Resources expended
Expenditure on:
13,644 - 13,644 7,166
Charitable Activities 3
- - - 255
Other 4
13,644 - 13,644 7,421
Total Resources expended
Movement in total fund for the year- Net income / 22,855 - 22,855 13,911
(expenditure) For the year
44,347 - 44,347 30,437
Fund balance brought forward
67,202 - 67,202 44,347
Fund balance carried forward
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1•14 i.hij 6¥.J45 44,347 7•.400 44J47 J258 Tru¥1 ASSETS 67302 41317 NET ASSErs 67,101 44?47 CMARin' FUNDS UllresuJ¢ied funds 67202 44.347 Re5cl¢d (undj TOThL FUNDS 67.102 44 J47 The financial slaiem¢nts wer¢ approved by ihe TNst¢¢s on and signed on Iheir bchalf, by.. D4te... Thc Nolcs on page 10 10 12 fomh part of ihese accounts. cs Camscanner
NOTES TO THE FINANCIAL STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2024
1.1 Accounting Policies
The principal accounting policies adopted by the Charity, which is a public benefit entity, in the preparation of the accounts are as follows.
1.2 Basis of preparation
These accounts have been prepared under the historical cost convention, as modified by the inclusion of charitable properties and fixed asset investments and investment properties at valuation.
Statement of Recommended Practice applicable to charities preparing their accounts in accordance (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
These accounts are presented in pounds sterling and rounded to the nearest pound.
1.3 Going concern
The Trustees have prepared financial projections, taking into consideration the current economic conditions and have, at the time of approving these accounts, a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus, they continue to adopt the going concern basis of accounting in preparing the accounts.
1.4 Income from donations or grants
Income from donations and grants is recognised when the charity is entitled to the funds, the receipt is probable, and the amount can be measured reliably. For donations, this is usually on receipt. For grants, this is usually when a formal o"er is made in writing. If a donation or grant contains terms and funds, or if the donor specifies that the funds must be used in future time periods, then the income is deferred.
1.5 Expenditure
Expenditure is recognised when a present legal or constructive obligation exists at the balance sheet date because of a past event, it is probable that a transfer of economic benefits will be required to settle the obligation, and the amount can be estimated reliably. It is inclusive of VAT which cannot be recovered.
Direct costs are those costs which directly attribute to its activities. Wages and salaries are allocated to direct costs based on an estimate of time spent on charitable activities by staff members.
Support costs include staff costs and are those which do not produce a direct output. Staff costs relate to specific activities, and this is reflected in the allocation of payroll costs based on the percentage of time spent.
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NOTES TO THE FINANCIAL STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2024 ( continued )
All costs, including governance costs, are allocated between the expenditure categories of the charity on a basis designed to reflect the use of the resource. Costs relating to a particular activity are charged directly; others are apportioned on an appropriate basis.
Support costs and overheads have been calculated by allocating staff time to the level of involvement in the various activities of the Charity.
1.6 Fund accounting
Unrestricted funds are those funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors, or which have been raised by the charity for purposes.
2. INCOME FROM DONATION & LEGACIES
| Analysis Donation and gifts Gift Aid |
Unrestricted Restricted income Endowment funds Total funds 2024 Total funds 2023 funds funds £ £ £ £ £ 31,871 - - 31,871 21,332 4,628 - - 4,628 |
|---|---|
| 36,499 36,499 21,332 |
3. EXPENDITURE ON CHARITABLE ACTIVITIES
| Analysis Bank charges Governance Cost Utilities Repairs & Maintenance Building Rent Pastoral Expenses Sundry Legal & Professional Staff Recruitment Costs Admin & Consultancy Equipment Gifts & Support |
Total funds 2024 Total funds 2023 £ £ 120 36 969 970 1,675 1,225 430 2,854 - 650 - 185 1,600 1,000 3,089 - 1,200 1,907 2,900 13,644 7,166 |
|---|---|
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NOTES TO THE FINANCIAL STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2024 (continued)
4. OTHER EXPENDITURE
| Analysis Other Expenditure |
Unrestricted funds Restricted income funds Endowment funds Total funds 2024 Total funds 2023 £ £ £ £ £ - - 255 - - 255 |
|---|---|
5. CASH AT BANK AND IN HAND
| Cash at bank and on hand | Total funds 2024 Total funds 2023 £ £ 68,845 44,347 68,845 44,347 |
|---|---|
6. CHARITY FUNDS
6.1 Details of material funds held and movements during the CURRENT reporting period
| Fund names Unrestricted funds Total |
Fund balances brought forward Income Expenditure Transfers Gains and losses Fund balances carried forward £ £ £ £ £ £ 44,347 36,499 13,644 - - 67,202 44,347 36,499 13,644 - - 67,202 |
|---|---|
6.2 Transfers between funds
| This Year | Amount |
|---|---|
| £ | |
| Between unrestricted and restricted funds | - |
| Between endowment and restricted funds | - |
| Between endowment and unrestricted funds | - |
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