## **UNFAILING LOVE**
Charity No 1200953
**TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **UNFAILING LOVE**
TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR YEAR ENDED 31 DECEMBER 2023
|**CONTENTS**|PAGE|
|---|---|
|Reference and administrative details|2.|
|Trustees report|3 - 6|
|Independent Examiner's report|7.|
|Statement of Financial Activities|8.|
|Balance sheet|9.|
|Notes to the accounts|10 - 14|
Page 1
## **UNFAILING LOVE**
ADMINISTRATIVE DETAILS OF THE CHARITY, AND ITS TRUSTEES FOR YEAR ENDED 31 DECEMBER 2023
|**Trustees**|Mrs Pauline Coker|
|---|---|
||Mrs Tola Gus - Resigned 01/10/2024|
||Mr Neil Loxley|
||Mrs Abimbola Adeoluwa - Appointed 01/10/2024|
|**Correspondence Address**|9 Farriers End|
||Stanway|
||Colchester|
||Essex|
||CO3 0YE|
|**Resident Pastors**|Pastor Ope Coker - Lead|
||Pastor Wande Gus - Associate|
|**Bankers**|HSBC PLC|
||High Street|
||Colchester|
|**Independent Examiner**|Akintayo Ojo FCCA|
||Resource Accountancy Practice|
||Chartered Certified Accountant|
||46 Hollywood Way|
||Erith|
||DA8 2QE|
Page 2
## **UNFAILING LOVE**
## REPORT OF TRUSTEES
FOR YEAR ENDED 31 DECEMBER 2023
The trustees submit their report and financial statements of Unfailing Love ("The Charity") for the year ended 31 December 2023. The trustees confirm that the trustees' report and financial statements of the charity comply with the statutory requirements of the Charities Act 2011 and the Charity's governing document and the provisions of the Statement of Recommended Practice (SORP) issued in April 2005.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
Unfailing Love "The Charity" was constituted by a trust deed dated 1 January 2020 and registered with with the Charity Commission as a charity in England and Wales on 9 November 2022.
## **APPOINTMENT OR ELECTION OF MANAGEMENT COMMITTEE OR TRUSTEES**
The trustees are appointed and or co-opted under the terms of the charity's governing document.
## **POLICIES ADOPTED FOR THE INDUCTION AND TRAINING OF NEW TRUSTEES**
The induction process for a newly appointed trustees comprises of an initial meeting with the chair of of the board and other trustees, followed by short meetings with the Lead Pastor on the powers and responsibilities of the trustees.
## **ORGANISATIONAL STRUCTURE AND DECISION MAKING**
The charity is organised so that the trustees meet regularly to manage its affairs. The General secretary manages the day to day administration of the church with assistance from the ministers.
## **RISK MANAGEMENT**
The trustees have assessed the major risks to which the charity is exposed, in particular those relating to the operations and finances of the charity, and are satisfied that systems are in place to mitigate our exposures to major risks. However consultation and review of our systems are regularly undertaken, in order to ensure they remain up to date and effective.
## **OBJECTIVES AND ACTIVITIES**
The principal object is the advancement of Christian religion, and the relief of poverty. To achieve its objectives, the charity adopted the following strategies:
1. Setting up platforms which facilitates the general public to express their belief in the Christian God through worship, religious education and conferences.
2. Organising regular events and meetings, and
3. Supporting other charities and Christian events.
Page 3
## **UNFAILING LOVE**
REPORT OF TRUSTEES FOR YEAR ENDED 31 DECEMBER 2023
## **PUBLIC BENEFITS**
The Church's Sunday and mid-week services as well as prayer meetings are open to the general public to build on their Christian faith. Apart from its Church activities, the charity was involved in the following public benefit efforts:
- Holding outreaches in areas of interest to our community, such as engaging with local initiatives e.g. donating to the local food bank.
- We run a football team in Colchester that is registered with the Football Association (FA), and plays in the local football league. As sports provides an opportunity for informal meeting with and mentoring of the young people.
- Our charitable work includes donations to organisations like (Noah'a Ark and baraka Children's Home) to help relief poverty.
- The charity runs leadership training and development meetings in Colchester. The objective of the meetings is to provide participants with leadership skills.
Our efforts are geared towards supporting the programmes of our local community, promoting cohesion in our community, and impacting the lives of the young people and the elderly.
In establishing the annual plan and activities for the year, which will fulfil the overall aims of the organisation, the trustees considered the principles of public benefits' testing at the time in line with the ethos of the Charity's objects of advancing Christian faith in the United Kingdom.
The trustees are aware of the Charity Commission's guidance on public benefit and have taken them into account where relevant, in their planning and decision making.
## **GRANT MAKING POLICY**
The church supports visiting ministers of the gospel both within and outside the church. The Church supports other charities and missionary that share its objects in the advancement of Christian faith and relief of poverty. The church gives occasional welfare grant to members of the congregational who are in need, after a careful and thorough assessment.
## **VOLUNTEERS**
The church is grateful for the unstinting efforts of its volunteers who are involved in providing services for the charity. It is estimated that over 1,560 hours are provided by volunteers during the year. If this is conservatively valued at £8.00 per hour, the volunteers effort will amount to over £12,480.
Page 4
## **UNFAILING LOVE**
REPORT OF TRUSTEES FOR YEAR ENDED 31 DECEMBER 2023
## **REVIEW OF ACTIVITIES**
The charity continues to enjoy tremendous growth in its physical and spiritual life during the year, and in the advancement of Christian faith in accordance with the doctrines set out in its Statement of faith .
## **RESERVES POLICY**
The trustees' policy is to have unrestricted and uncommitted funds (free reserves) to cover 3 to 6 months of resources expended. They feel that this would enable current activities to continue if there is any significant drop in funding. It would obviously be necessary then to consider how the funding would be replaced or activities changed. The present free reserve is within the policy range but the trustees are continuing to seek additional funds to further boost the reserves.
## **PRINCIPAL FUNDING**
Funding has been provided mainly through tithes and offerings by church members and through donations.
## **FUTURE DEVELOPMENTS**
The charity continues to explore various ways of spreading the gospel of Christ in an effective manner. The charity is also looking to create more gathering centres, grow in membership and continue to develop its members to make life-changing impact in the community.
The charity is particularly interested in helping today's youths to grow in faith and also to be the the best versions of themselves as God intends for them. We are committed to raising leaders among them.
Page 5
## **UNFAILING LOVE**
REPORT OF TRUSTEES FOR YEAR ENDED 31 DECEMBER 2023
## STATEMENT OF TRUSTEES' RESPONSIBILITIES
The Trustees are responsible for preparing the annual report and financial statements in accordance with applicable laws and regulations.
Charity law requires the trustees to prepare financial statements for each financial year. Under that law, the trustees have elected to prepare the financial statements in accordance with the United Kingdom Generally Acceptable Accounting Practice (United Kingdom Accounting Standards and applicable law). The financial statements are required to give 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 the financial statements, the trustees are required to:
- Select suitable accounting policies and apply them consistently;
- Make judgement and estimates that are reasonable and prudent;
- Prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees recognise their responsibilities to keep 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 Companies Act 2006. They are also responsible for safeguarding the assets of the charity and henceforth taking steps for the prevention and detection of fraud and other irregularities.
The appended financial statements have been prepared on the accruals basis and have been examined by an independent examiner, whose report is also appended.
Approved by the Trustees on 30th October 2024 and signed on their behalf by:
**Pauline Coker Trustee**
**Neil Loxley Trustee**
Page 6
## **UNFAILING LOVE**
INDEPENDENT EXAMINERS REPORT FOR YEAR ENDED 31 DECEMBER 2023
## TO THE TRUSTEES OF UNFAILING LOVE
I report to the trustees on my examination of the accounts of the above charity for the year ended 31 December 2023 which is set on pages 8 -14
## RESPONSIBILITIES AND BASIS OF REPORT
As the charity trustees of the Trust, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ("the Act")
I report in respect of my examination of the account carried out under section 145 of 2011 Act and in carrying out my examination, I have followed applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## INDEPENDENT EXAMINER'S STATEMENT
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that, in any material respect:
- accounting records were not kept in accordance with section 130 of the Act or
- the accounts do not accord with the accounting records
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Akintayo Ojo FCCA 30th October 2024
_Chartered Certified Accountant_
## _**Resource Accountancy Practice**_
46 Hollywood Way, Erith. DA8 2QE
Page 7
## **UNFAILING LOVE**
## STATEMENT OF FINANCIAL ACTIVITIES
FOR YEAR ENDED 31 DECEMBER 2023
|**Incoming resources**
Donations & incoming resources
2
Total incoming resources
**Resources expended**
Grants payable - institutional
3
Activities in furtherance of charity's objects
4
Support costs
5
Management and governance cost
6
**Total resources expended**
Net(outgoing)/incoming resources for the year
Total funds at the start of the year
Balance at the end of the year
Notes|**Unrestricted**
**Funds**
**2023**
**£**
27,926|**Restricted**
**Funds**
**2023**
**£**
-|**Total**
**Total**
**Funds**
**Funds**
**2023**
**2022**
**£**
**£**
27,926
19,277
**27,926**
**19,277**
5,462
6,205
11,278
3,922
5,961
1,996
1,100
600
**23,801**
**12,723**
4,125
6,554
40,652
34,098
**44,777**
**40,652**|
|---|---|---|---|
||**27,926**|**-**||
||5,462
11,278
5,961
1,100|-
-
-
-||
||**23,801**|**-**||
||4,125
40,652|-
-||
||**44,777**|**-**||
Page 8
## **UNFAILING LOVE**
## BALANCE SHEET
## FOR YEAR ENDED 31 DECEMBER 2023
|Notes
**Fixed Assets**
Tangible fixed assets
**Current assets**
Cash at bank
8
Receivables
**Total Assets**
**Less: Current Liabilities:**
Creditors: Amount falling due within
One year
9
**Net assets**
**Financed BY: Charity funds**
General - restricted
General - unrestricted|**Total**
**Funds**
**2023**
**£**
1,005
37,922
6,500
44,422
45,427
650
**44,777**
-
44,777
**44,777**|**Total**
**Funds**
**2022**
**£**
1,313
39,939
-|
|---|---|---|
|||39,939
41,252|
|||600|
|||**40,652**
-
40,652|
|||**40,652**|
The accounts have been prepared in accordance with the special provision of Statement of Recommended Practice: Accounting and Reporting by Charities (SORP) issued March 2005 as modified for smaller charities
Approved by the Trustees on 30th October 2024 and signed on their behalf by:
**Mrs Pauline Coker Trustee**
**Neil Loxley Trustee**
Page 9
## **UNFAILING LOVE**
## NOTES TO THE ACCOUNTS
FOR YEAR ENDED 31 DECEMBER 2023
## **1. ACCOUNTING POLICIES**
## **(1.1) Basis of preparation of financial statements**
These accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008) .The financial statements have been prepared with Statement of Recommended Practice (SORP), "Accounting and Reporting by Charities" published in March 2005 and applicable accounting standards.
## **(1.2) Income**
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
## **(1.3) Expenditure**
Expenditure is recognised once there is a legal constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of total of direct costs and shared costs, including support costs involved in undertaking each activity.
## **(1.4) Fund Accounting**
General funds are unrestricted funds which are available for use at the direction 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 the specific restrictions imposed by the donors which have been raised by the charity for a particular purpose. The cost of raising such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements where applicable.
## **(1.5) Cash flow**
The financial statements do not include a cash flow because the church, as a small reporting entity is exempted from the requirement to prepare such a statement under the Financial Reporting Standard for Smaller Entities (effective 2002)
## **(1.6) Tangible fixed assets depreciation**
The Charity's tangible fixed asset policy is to capitalise all assets costing more than £500. Tangible assets are carried net of depreciation and any provision for impairment. Depreciation is calculated as follows: Equipment - 25% Straight line
Page 10
## **UNFAILING LOVE**
## NOTES TO THE ACCOUNTS
## FOR YEAR ENDED 31 DECEMBER 2023
|**Unrestricted**
**Funds**
**2023**
2. DONATIONS, LEGACIES AND SIMILAR INCOMING RESOURCES
**£**
Tithes
26,151
General offering
1,635
Thanksgiving
140
27,926
**Unrestricted**
**Funds**
**2023**
3. Grants payable - institutional
**£**
Charitable giving -UK
2,962
Charitable giving -overseas
2,500
Total
5,462
**2023**
List of institutional grants payable
**£**
Central Office Funds
Mission support
250
World Evangelism Fund
Mission support
1,212
Sports Sponsorship
Donations
-
Other charities
Charity support
1,500
Total grant payable - institutional
2,962
**Unrestricted**
**Funds**
4. COST OF ACTIVITIES IN FURTHERANCE OF
**2023**
CHARITY'S OBJECTS
**£**
Charity events
1,155
Printing & publicity
916
Travel & subsistence
432
Printing & publicity
-
Faith life
698
Welfare & hospitality
583
Seminar & conference
412
Worship, music & liturgy
236
Visiting ministers' expenses
600
Missions & outreach
710
Hall hire
5,536
11,278|**Unrestricted**
**Funds**
**2023**
2. DONATIONS, LEGACIES AND SIMILAR INCOMING RESOURCES
**£**
Tithes
26,151
General offering
1,635
Thanksgiving
140
27,926
**Unrestricted**
**Funds**
**2023**
3. Grants payable - institutional
**£**
Charitable giving -UK
2,962
Charitable giving -overseas
2,500
Total
5,462
**2023**
List of institutional grants payable
**£**
Central Office Funds
Mission support
250
World Evangelism Fund
Mission support
1,212
Sports Sponsorship
Donations
-
Other charities
Charity support
1,500
Total grant payable - institutional
2,962
**Unrestricted**
**Funds**
4. COST OF ACTIVITIES IN FURTHERANCE OF
**2023**
CHARITY'S OBJECTS
**£**
Charity events
1,155
Printing & publicity
916
Travel & subsistence
432
Printing & publicity
-
Faith life
698
Welfare & hospitality
583
Seminar & conference
412
Worship, music & liturgy
236
Visiting ministers' expenses
600
Missions & outreach
710
Hall hire
5,536
11,278|**Restricted**
**Funds**
**2023**
**£**
-
-
-|**Total**
**Funds**
**2023**
**£**
26,151
1,635
140|**Total**
**Funds**
**2022**
**£**
18,098
909
270|
|---|---|---|---|---|
||27,926|-|27,926|19,277|
|||**Restricted**
**Funds**
**2023**
**£**
-
-|**Total**
**Funds**
**2023**
**£**
2,962
2,500|**Total**
**Funds**
**2022**
**£**
6,205
-|
||5,462|-|5,462|6,205|
||**2023**
**£**
250
1,212
-
1,500|**2023**
**£**
-
-
-
-|**2023**
**£**
250
1,212
-
1,500|**2022**
**£**
751
2,555
500
2,400|
||2,962|-|2,962|6,205|
|||**Restricted**
**Funds**
**2023**
**£**
-
-
-
-
-
-
-
-
-
-
-|**Total**
**Funds**
**2023**
**£**
1,155
916
432
-
698
583
412
236
600
710
5,536|**Total**
**Funds**
**2022**
**£**
630
296
-
-
806
1,024
150
516
-
500
-|
||11,278|-|11,278|3,922|
Page 11
## **UNFAILING LOVE**
## NOTES TO THE ACCOUNTS FOR YEAR ENDED 31 DECEMBER 2023
|
5. SUPPORT COST
Zoom Cost
IT Consumables
Insurance
Depreciation
Admin charges
Other costs
6. MANAGEMENT AND GOVERNANCE COSTS
Professional fees
Accountancy Fees
Independent Examiners Fees
10. TANGIBLE FIXED ASSETS
**Cost**
At 1 January 2023
Additions
At 31 December 2023
**Depreciation**
At 1 January 2023
Charge for the year
At 31 December 2023
**Net book value**
At 31 December 2023
At 31 December 2022|**Unrestricted**
**Restricted**
**Funds**
**Funds**
**2023**
**2023**
**£**
**£**
183
-
1,817
-
-
-
1,648
-
1,640
-
672
-
5,961
-
**Unrestricted**
**Restricted**
**Funds**
**Funds**
**2023**
**2023**
**£**
**£**
450
-
350
-
300
-
1,100
-
Musical Computers &
equipment
projectors
£
£
623
4,632
500
840
1,123
5,472
468
3,474
280
1,368
748
4,842
375
630
155
1,158|**Total**
**Funds**
**2023**
**£**
183
1,817
-
1,648
1,640
672
5,961
**Total**
**Funds**
**2023**
**£**
450
350
300
1,100
Total
31-Dec
2023
£
5,255
1,340
6,595
3,942
1,648
5,590
1,005
1,313|**Total**
**Funds**
**2022**
**£**
173
-
181
1,314
22
306|
|---|---|---|---|
||||1,996|
||||**Total**
**Funds**
**2022**
**£**
-
300
300|
||||600|
||||Total
31-Dec
2022
£
5,255
-|
||||5,255|
||||3,942
1,313|
||||5,255|
|||||
||||-|
|||||
Page 12
## **UNFAILING LOVE**
NOTES TO THE ACCOUNTS FOR YEAR ENDED 31 DECEMBER 2023
|7. Current Assets|Year ended|Year ended|
|---|---|---|
||31-Dec|31-Dec|
||2023|2022|
||**£**|**£**|
|Cash at bank|37,922|39,939|
||37,922|39,939|
|8. DEBTORS AND PREPAYMENTS|Year ended|Year ended|
||31-Dec|31-Dec|
||2023|2022|
||**£**|**£**|
|Debtors|6,500|-|
||6,500|-|
|8. CREDITORS AND ACCRUALS|Year ended|Year ended|
||31-Dec|31-Dec|
||2023|2022|
||**£**|**£**|
|Accrued - accountancy & examiner's fees|650|600|
||650|600|
## 9. RELATED PARTY TRANSACTIONS
During the year, the charity did not engage any one related to the charity trustees of their relation.
|10. NET INCOMING RESOURCES/(RESOURCES EXPENDED)
This is stated after charging
Depreciation of tangible assets owned by the charity
Accountant's fees
11. TRUSTEES REMUNERATION
During the year, no trustee received any remuneration
During the year, no trustee received any benefits in kind|Year ended
Year ended
31-Dec
31-Dec
2023
2022
**£**
**£**
1,314
1,314
650
600
Year ended
Year ended
31-Dec
31-Dec
2023
2022
NIL
NIL
NIL
NIL|
|---|---|
## 12. TAXATION
Unfailing Love is a un-incorporated charity and all of its activities are tax exempt under rules of taxation granted to charities.
Page 13