UNFAILING LOVE CharSty No 1200953 TRusfEES REPORT AND FINANCIAL sfATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
UNFAIUNG LOVE TRUSTEES REPORT AND FINANCIAL StATEMENTS FOR YEAR ENDED 31 DECEMBER 2024 CONTENTS PAGE Reference and administrative details Trustees report Independent Examinerfs report Statement of Finanaal Activities Balance sheet Notes to the accounts 10-14 Page I
UNFAIUNG LOVE ADMINIsfRAnVE DAILs OF THE CHARfrY. AND rrs TRusfEES FOR YEAR ENDED 31 DECEMBER 2024 Trustees Mrs Pauline Coker Mr Neil Loxley Mr5 Abimbola Adeoluwa Correspondence Address 9 Farriers End Stanway Colchester Essex C03 OYE Resident Pastors Pastor Ope Coker - Lead Pastor Wande Gus - Associate Bankers HSBC PLC High Street Colchester Independent Examlner Akintayo Ojo FCCA Resource Accountancy Practice Chartered Certified Accountsnt 46 Hollywood Way Erith DA8 2QE Page 2
UIIFAIL114G LOVE REPORT OF TRusfEES FOR YEAR ENDED 31 DECEMBER 2024 The trustees submit their report and financial statements of Unfalllng Love (The Charity.) for the year ended 31 December 2024. The twstees confimi that the trustee5' report and financial statements of the charity comply with the statutory requirements of the Chartties Act 2011 and the Charity's governing document and the provisions of the Statement of Recommended Prattl {SORP) issued in April 2005. STRUCTURE, GOVERNANCE AND MANAGEMEKr Unfailing Love The Charity. was constituted by a trust deed dated l January 2020 and registered with wlth the Charity Commission as a tharity in England and Wales on 9 November 2022. APPOINTMENT OR ELEcfIoN OF MANAGEMENT COMMrrTEE OR TRusfEES The trustees are appointed and or co-opted under the terms of the charity's governing document. POLICIES ADOPTED FOR THE INDucfioN AND TRAINING OF NEW TRusfEES 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 hvith the Lead Pastor on the powers and responslbillties of the trustees. QRGANISATIONAL sfRucfuRE AND DECISION MAKING The charlty is organised so that the trustees meet regularly to manage its affairs. The General secretsry manages the day to day administration of the thurch with assistance from the minlster5. RISK MANAGEMENT The trustees have a55e55ed the major risks to whith the charfty is exposed, in particular those relating to the operations and finances of the tharity. and are satlsfied that systems are in pla to mitigate our exposures to major risks. However consultation and review of our systems are regularly undertaken, In order to ensure they maIn up to date and effectlve. OBJEcfIvES AND AcrJvrrIES The principal objett is the advanment of Christian religion, and the relief of poverty. To achieve its objectives, the charity adopted the following stTrtegies: l. Setting up platforms which facilitates the general public to express their belief in the Chrlstlan God through worship, religious educatlon and conference5. 2. Or9anising regular events ond meetings and 3. Supporting other charities and Christian events. Page 3
UNFAILING LOVE REPORT OF TRUSTEES FOR YEAR ENDED 31 DECEMBER 2024 PUBLIC BENEFrrs The Church's Sunday and mid-week serViS as well as prayer meetings a open to the general public to btjild on their Christian faith. Apart from its Church activitie5, the charity wa5 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 reglstered with the Football Assoclatlon (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 worf< indudes 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 Colthester. The objertive of the meetings is to provide participants with leadership skills. Our efforts are geared towards SUPPOFting 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 fijlfil the overall aims of the organisation, the tnjstees considered the principles of public benefits, testing at the time in Ilne with the ethos of the Charity's objects of advancing Christian faith in the United Kingdom. The trustees are aware of the Charlty Commlsslon's guidance on public benefit and have tsken them into account where relevant, In their planning and declslon making. GRANT MAKING POLICY The church supports visiting ministers of the gospel both within and outside the thurch. The Church supports other charities and missionary that share its objects in the advancement of Christlan falth and rellef of poverty. The church glves 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 unstlntlng 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 DEMBER 2024 REVIEW OF AcrIvrrIES The charfty continues to enjoy tremendous growth in its physical and spiritual life during the year, and In the advanment of Chrlstian faith in accordance with the doctrines set out in its Statement of faith RESERVES POLICY The trustees, policy is to have unrestricted and uncommitted fvnds (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 erve is within the policy range but the trustees are contlnulng to seek addltlonal fvnds to fvrther boost the reseNes. PRINCIPAL FUNDING Funding has been provided mainly through tithes and offerings by churth members and through donations. FUTURE DEVELOPMENTS The charity continues to explo varlous ways of spreadlng the gospel of Chrfst In an effectlve manner. The charity is also looking to create more gathering ntre5, grow in membership and continue to develop its members to make life-changing impact in the communty. 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 (knd intends for them. We are committed to raising leaders among them. Page 5
UNFAILING LOVE REPORT OF TRusfEES FOR YEAR ENDED 31 DECEMBER 2024 STATEMENT OF TRUSTEES. RESPONSIBiiirtES The Trustees a responsible for pparing the annual report and finanoal statements in accordan wlth applicable laws and regulations. Charlty law requi$ the trustees to prepare financial statements for each finanual year. Under that law, the tru5tee5 have elected to Prepa the finanaal statements in accordance with the United Klngdom Generally Acceptable Accounting Practice (United Kingdom Accounting Standards and applicable law)- The financial statements are required to give a tnje and fair view of the state of affairs of the charity and of the surplus or defiat of the charity for that period. In preparing the financial statements, the trustees are required to". Select suitable accounting policies and apply them consistentlyi Make judgement and estimates that are reasonable and prudent" Prepare the financial ststements on a going Conrn basis unless It Is inappropriate to presume that the charity will continue in operdtion. The trustees cognise their responsibilities to keep proper accounting records that disclose with reasonable accura at any time the financial position of the chartty 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 preventlon and detectlon of frdud and other irregularities. The appended financial statements have been prepared on the accruals basis and have been examined by an independent examiner, whose port Is also appended. Approved by the Trustees on 30 October 2025 and signed on their behalf by: Pauline Coker Trustee Nell Loxley Trustee Page 6
UNFAIUNG LOVE INDEPENDENT EXAMINERS REPORT FOR YEAR ENDED 31 DEMBER 2024 TO THE TRUSTEES OF UNFAILING LOVE I report to the trustees on my examination of the accounts of the above d)arity for the year ended 31 December 2024 which is set on pages 8 -14 RESPONSIBILITIES AND BASIS OF RE)RT As the charity trustees of the Trust, you are responsible for the preparation of the accounts in accordan¢e with the requirements of the Charitie5 Att 2011 ("the Art") I report in respect of my examinatlon of the account carried out under section 145 of 2011 Act and in carryir*g out my examination, I have followed applicable Directions given by the Charity Commission under section 145(5)(b) of the Art. INDEPENDENT EXAMLNER'S STATEME I have completed my examination. I confirm that no material matter5 have ¢ome to my attentiors in connertion with the examination which gives me cause ro belleve that, in any material respect: - accounting cordS were Th)t kept in accordance wlth section 130 of the Art or - the accounts do not accord with the accountin9 records I have no concerns and have come acros5 no other mattels kn connection with tre examinatlon to which attention should be drawn in ortler to enable a proper understanding of the accounts to be aChed. Akintayo Ojo FCCA 3c October 2025 ChartetEd Certified Accountant Resource Accountancy Prartlce 46 Hollywoixj Way, Erith. DA8 2QE Page 7
UNFAILING LOVE srATEMENT OF FINANCIAL AcrIvmES FOR YEAR ENDED 31 DECEMBER 2024 Total Total Funds Funds Funds Funds Notes 2024 2024 2024 2023 Incomlng resources Donatlons & incoming resources Total incoming resour 33,896 33,896 33.896 33,896 27.926 27,926 Resources expended Grants payable - Instltutlonal Activities in furtherance of charity's objects Support costs Management and governance cost Total resources expended 750 38,044 5,985 3,585 48,364 750 38,044 5,985 3,585 48,364 5.462 11,278 5,961 I,ioo 23,801 Net(outgoing)/incoming re50urce5 for the year 14,468 14,468 4,125 Total funds at the start of the year 44,777 44,777 40,652 Balance at the end of the year 30.309 30,309 44.777 Page 8
UNFAILING LOVE BALANCE SHE FOR YEAR ENDED 31 DECEMBER 2024 Total Total Fund• Fund• Note5 2024 2023 Flxed Assets Tangible fixed assets 7,259 1,005 Current assets Cash at bank Receivables 19,710 15,850 35,560 37,922 6,500 44,422 Total Assets Less: Current Llabllltles: 42,819 45.427 Creditors: Amount falling due withln One year Net assets 12,510 30.309 650 44,777 Flnanced BY: Charlty funds General - restricted General - unrestrlcted 30,309 30,309 44,777 44,777 The accounts have been prepared in accordan wlth the spthl prov&"on of 5tatemert of Recornmended Practi.. Accounting and Reporting by Charibes {SORP) March 2005 as rnodffied for smaller tharftles Approved by the Tnjstees on A) ortober 2025 and slgned on their behalf by: Mrs Pauline Coker Trustee Neil Loxley Trustee Page 9
UI4FAIL114G LOVE NOTES TO THE ACCOUNTS FOR YEAR ENDED 31 DECEMBER 2024 I. ACCOUPMNG POLICXES {l.l) Bas1$ of preparatlon of flnanclal 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 Pract1 (SORP), "Accounting and Reporting by Charlties" publlshed In March 2005 and appllcable accountlng standards. {1.2) Incom• All income is OgnISed 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 reco9nlsed at the time the investment Income Is recelvable. (1.3) Exp•ndltura Expenditure Is recognised once there Is a legal o)nstructlve obiigatlon to transfer economlc beneflt to a thlrd party, It Is probable that a transfer of economic benefits will be requlred In settlement and the amount of obllgatlon can be measured rellably. Expendlture Is classlfled by actlvlty. The costs of each activity are made up of total of direct costs and shared costs, Including support costs Involved In undertaking each attivlty. (1.4) Fund Ac¢ountlng General funds are unrestrltted funds whlch are avallable for use at the dlrectlon of the Trustees In furtherance of the general objectives of the charlty and whlch have not been deslgnated for other purposes. Re$trtrted fvnds a funds whlch are to be used In accordantr wlth the specific restrlctlons imposed by the donors whlch have been rdised by the charity for a partlcular purpose. The cost of raising such funds are itharged agalnst the speclfic fund. The aim and use of each restricted fund is set out in the notes to the financial statements where appllcable. (1.5) Cash flow The flnanclal statements do not indude a cash flow because the church, as a small reportlng entity is exempted from the requirement to prepare such a statement under the Financial Reporting Standard for Smaller Entlues (effeciive 2002) (1.6) Tanglble fixed assets depreclatlon Tlie Cl?oi Ily'¥ ian9lble nxed asset pollcy Is to caplta115e all a55ets G05tlng more than £500. Tangible assets are carried net of depreciation and any provision for impalrment. Depreclauon Is Icu1ated as follows: Equipment 25% Straight Ilne Page 10
UNFAIUNG LOVE NOTES TO THE ACCOUPtrs FOR YEAR ENDED 31 DECEMBER 2024 Tot•l fvnd• Fund• Fund• Fund• 2024 2024 2024 2023 2. DONATIONS, LEGACIES AND SIMI IPICOMING RES<)URCES Tlthes General offertng Glft aid daims 15,019 3.404 15,473 33,896 15,019 3,404 15,473 33,896 26,151 1,775 27,926 Totsl Fuhd• 2024 FuDd• Fund# X•24 2024 2023 3. Grants payable - Institutlonal Charltable glving -UK Charitable glvlng -overseas Total 750 750 2,962 2,500 5.462 750 750 2024 a024 1024 2023 Llst of Instltutlonal grants payable Central Offlce Funds World Evangellsm Fund Other charities Total grdnt payable - Instltutlonal MlssSon support Mlsslon support Charity support 350 350 250 1,212 1,500 2,962 400 750 400 750 Totsl Punds Pund• Pund• Fund• 4. COST OF AcrivmES IN FURTHERANCE OF CHARfNs 08JECTS Charfty events Prlntlng & publiclty Travel & sub5iStence Motor expenses staff cost Faith Ilfe Welfare & hospltallty Semlnar & conference Worshipt music & liturgy Visiting minlsters, expenses Missions & outreach Hall hire 2024 2024 2024 2023 1,155 916 432 600 327 5,476 17.467 600 327 5,476 17,467 698 583 412 236 600 4,514 200 732 250 4,514 200 732 250 2,439 6,040 38.044 2,439 6,040 38.044 710 5,536 11.278 Page 11
UNFAILING LOVE NOTES TO ThE ACCOUrS FOR YB4R ENDED 31 DECEMBER 2024 Total Total Fund• Fyt¥ls Funds 2024 2024 2024 2023 5. SUPPORT CO Zoom Cost Telephone & rr Consumables Insurance Depreciation Admin charges Other costs 187 708 102 3.298 1,285 405 5,985 187 708 102 3,298 1,285 405 5,985 183 1,817 1,648 1,640 672 5,961 6. MANAGEMEKf AND GOVERNANCE cosrs Total Totsl Futtd* Fund• Funds Fund¥ 2024 2024 2024 2023 Professional fee5 Accountancy Fees Independent Examiners Fees 2,735 450 400 3.585 2,735 450 400 3,585 450 350 300 I,ioo 10. TANGIBLE FIXED ASSErs Motor Musical Computers & Vehide equipment projectors Total 31-Dec 2023 Total 31-Dec 2022 At l January 2024 Additions At 31 December 2024 1,123 552 1.675 5.472 6,595 9,552 16,147 5,255 1,340 6,595 9.000 9,000 5,472 Depreciation At l January 2024 Charge for the year At 31 December 2024 Net book value At 31 Dember 2024 4.842 630 5,472 5.590 3.298 8,888 3,942 1,648 5,590 2.250 2,250 418 1,166 6,750 509 7,259 1,005 At 31 December 2023 375 630 1.005 Page 12
UNFAILING LOVE NOTES TO THE ACCOUNTS FOR YEAR ENDED 31 DECEMBER 2024 7. Current Assets Year ended Year ended 31-Dec 31-Dec 2024 2023 Cash at bank 19,710 19,710 37,922 37,922 8. DEBTORS AND PREPAYMEKrs Year ended YÈJr ended 31-Dec 31-Dec 2024 2023 Debtors 15,850 15,850 6,500 6,500 8. CREDITORS AND ACCRUALS Year ended Year ended 31-Dec 31-Dec 2024 2023 Accrued - accountancy & examlnerfs fees Other credltors 850 11,660 12,510 650 650 9. RELATED PARTY TK4NSAcfIoNS Durlng the year, the charlty dld not engage any one related to the charity trustees of thelr relatlon. 10. Nrr rNCOMING RESOURCESI(RESOURCES EXPENDED) Thi5 IS Stated after charging Year ended Year ended 31-Dec 31-Dec 2024 2023 Depreclatlon of tangible assets owned by the charity Accountant's fees 1,314 850 1,314 650 11. TRu>fEES REMUNEFWTION Year ended Ye•r ended 31-Dec 2024 NIL NIL 31-Dec 2023 NIL NIL During the year, no tnjstee recelved any remunerdtion During the year, no trustee received any benefits in klnd 12. TAXATION Unfailing Love 15 a un-incorporated charrty and all of rts activities are tax exempt under rules of taxatlon granted to charities. Page 13