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2023-12-31-accounts

Charity number: 1201476

HARVESTERS INTERNATIONAL CHRISTIAN CENTRE TRUSTEE REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

Seniguk Consulting ltd Harlow Enterprise Hub Harlow Essex CM20 2NQ

HARVESTERS INTERNATIONAL CHRISTIAN CENTRE Trustee Report and Financial Statements For The Year Ended 31 December 2023

Contents
Page
Charity Information 3
Trustee's Report 4
Accountants' Report 5—6
Statement of Financial Activities 7
Balance Sheet 8
Notes to the Financial Statements 9—10
The following pages do not form part of the statutory accounts:
Detailed Financial Activities Account 11

HARVESTERS INTERNATIONAL CHRISTIAN CENTRE Charity Information For The Year Ended 31 December 2023

Charity Number 1201476 Registered Office Suite 311, Churchill House 120 Bunns Lane LONDON NW7 2AS Accountants Seniguk Consulting ltd Harlow Enterprise Hub Harlow Essex CM20 2NQ

Page 3

HARVESTERS INTERNATIONAL CHRISTIAN CENTRE Charity No. 1201476 Trustee Report for The Year Ended 31 December 2023

The trustee presents his report and the financial statements for the year ended 31 December 2023. Trustees

CHARITY INFORMATION

Trustees (Chair) IBUKUNOLA AKINOLA OSHUNGBOHUN Trustees ADEBIMPE ABIDEMI ADEGUN

Statement of Trustee’s Responsibilities

REPORT OF THE TRUSTEES FOR YEAR ENDED 31 December 2023

The Trustees present their report along with the financial statements of the charity for the year ended 31 December 2023. The financial statements have been prepared in accordance with the accounting policies set out on pages 11 to 13 and comply with the charity’s trust deed, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with Financial Reporting Standard applicable in the UK and Republic of Ireland. (FRS 102) (effective 1 January 2019).

Objectives and Activities

The object of the Foundation is to promote the Harvesters International Christian Centre in the United Kingdom. In furtherance of this object the Trustees may provide and maintain places of public worship carry out religious services, pay staff cost and any remuneration and hold religious and other meetings in connection with the Harvesters International Christian Centre.

To advance the Christian Faith for the benefit of the Public in the UK and overseas in accordance with the statements of Faith by providing facilities for Christian Worship, Prayer and Religious Education

Summary of the main achievements of the charity

The Church meet every Sunday at different campuses in the UK. The Trustees have paid due regard to the public benefit guidance as published by the Charity Commission. During the year, church management attended and organised conferences, retreats, and trips in the UK and abroad. The church has sports activities for the youth and has football and basketball teams which play within the UK.

Statement of trustees’ responsibilities in relation to financial statements

The trustees are responsible for preparing a trustees’ annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the charity’s financial activities during the year and of its financial position at the end of the year. In preparing financial statements giving a true and fair view, the trustees should follow best practice and:

• select suitable accounting policies and then apply them consistently.

• observe the methods and principles in the applicable Charities SORP.

• make judgements and estimates that are reasonable and prudent.

• state whether applicable accounting standards and statements of recommended practice have been followed, subject to any 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 operation.

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations and the provisions of the trust deed.

The trustees are responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by the Board of Trustees and signed on behalf of the board on 28[th] March 2024

Signed IBUKUNOLA AKINOLA OSHUNGBOHUN, Trustee Chair

28/03/2024

Page 4

HARVESTERS INTERNATIONAL CHRISTIAN CENTRE Accountants' Report For The Year Ended 31 December 2023

INDEPENDENT ACCOUNTANT REPORT

TO THE TRUSTEES OF HARVESTER INTERNATIONAL CHRISTIAN CENTRE

Opinion

We have prepared and review the financial statements of Harvester International Christian Centre (the ‘charity’) for the year ended 31 December 2023 which comprise the Statement of Financial Activities, the Balance Sheet, and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our review in accordance with International Standards on Accounting (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the accountant responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to the review of the financial statements in the UK, including the FRC’s Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern.

The financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report other than the financial statements and our report thereon. Our opinion on the financial statements does not cover the other information and, we do not express any form of assurance conclusion thereon.

In connection with THE financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements, or our knowledge obtained in the review or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Matters on which we are required to report by exception.

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Statement of Trustees’ responsibilities, the trustees are responsible for the preparation of the financial statements which give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the review of the financial statements

We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

...CONTINUED

Page 5

HARVESTERS INTERNATIONAL CHRISTIAN CENTRE Accountants' Report (continued) For The Year Ended 31 December 2023

Our objectives are to obtain reasonable assurance about whether the financial statements are free from material misstatement, whether due to fraud or error, and to issue an Independent Auditor’s Report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that a review conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken based on these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud is detailed below:

We obtained an understanding of the legal and regulatory frameworks that are applicable to the charity and determined that the most significant frameworks which are directly relevant to specific assertions in the financial statements are those that relate to the reporting framework.

We understood how the charity is complying with those frameworks by making enquiries of management and those responsible for legal and compliance procedures. We corroborated our enquiries through review of board minutes and discussions with those charged with governance.

We assessed the susceptibility of the charity’s financial statements to material misstatement, including how fraud might occur, by discussion with management from various parts of the business to understand where they considered there was a susceptibility to fraud. We considered the procedures and controls that the charity has established to prevent and detect fraud, and how these are monitored by management, and any enhanced risk factors such as performance targets.

Based on our understanding, we designed our review procedures to identify any non-compliance with laws and regulations identified in the paragraphs above.

We also performed review work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias.

Because of the inherent limitations of the review, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

Use of our report

This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our review work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in the finanicail report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Signed

28/03/2024

Seniguk Consulting ltd, Harlow Enterprise Hub, Harlow, Essex, CM20 2NQ

Page 6

HARVESTERS INTERNATIONAL CHRISTIAN CENTRE Statement of Financial Activities For The Year Ended 31 December 2023

Notes
TURNOVER
Cost of sales
GROSS SURPLUS
Distribution costs
Administrative expenses
OPERATING SURPLUS AND SURPLUS FOR THE FINANCIAL YEAR		 2023
£
538,354
(21,028 )
517,326
(2,256 )
(357,958)
157,112

The notes on pages 9 to 10 form part of these financial statements.

Page 7

HARVESTERS INTERNATIONAL CHRISTIAN CENTRE Balance Sheet As At 31 December 2023

Notes
FIXED ASSETS
Tangible Assets
4
CURRENT ASSETS
Cash at bank and in hand
NET CURRENT ASSETS (LIABILITIES)
TOTAL ASSETS LESS CURRENT LIABILITIES
NET ASSETS
Income and Expenditure Account
MEMBERS' FUNDS		 2023
£
£
45,608
45,608
111,504
111,504
111,504
157,112
157,112
157,112
157,112		 2023
£
£
45,608
45,608
111,504
111,504
111,504
157,112
157,112
157,112
157,112
111,504
157,112
157,112
157,112
157,112

The financial statements were approved and authorised for issue by the Board on 28[th] March 2024 and signed on behalf of the board by IBUKUNOLA AKINOLA OSHUNGBOHUN, Trustee Chair

……………………………….

28/03/2024

The notes on pages 9 to 10 form part of these financial statements.

Page 8

HARVESTERS INTERNATIONAL CHRISTIAN CENTRE Notes to the Financial Statements For The Year Ended 31 December 2023

1. General Information

HARVESTERS INTERNATIONAL CHRISTIAN CENTRE is a private company, limited by guarantee, incorporated in England & Wales, registered number 1201476. The registered office is Suite 311, Churchill House, 120 Bunns Lane, LONDON, NW7 2AS.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

2.1. Basis of Preparation of Financial Statements

1.1 Basis of accounting

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) ‘Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)’, Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.

1.2 Going concern.

The trustees consider that there are no material uncertainties about the charity’s ability to continue as a going concern. They are of the opinion that donation from the church’s large congregation will cover any future liabilities.

1.3 Change of accounting policy and change of accounting estimates.

The accounts present a true and fair view and the accounting policies adopted are those outlined in note. 1.1 and no changes to the accounting estimates have occurred in the year.

1.4 Material prior year errors

No material prior year errors have been identified in the reporting period.

2. Accounting policy

2. 1 Income

Recognition of income

Income is recognised in the period in which the charity is entitled to receive, and the amount can be measured with reasonable certainty. All voluntary income which comprises of donations, collection is included in income on a receivable basis is accounted for on amounts receivable in the year.

Tax reclaims on donations and gifts.

No Gift Aid receivable is included in income during the period.

2.2 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 obligation can be measured with reasonable certainty.

Resources expended.

Resources expended are included in the Statement of Financial Activities on an accrual’s basis inclusive of any irrecoverable VAT.

Charitable activities

Direct charitable expenditure includes all staff costs, property and other expenditure directly related to the charitable activities of the Foundation.

Governance and support cost

Support costs have not been allocated between governance costs and other costs.

Governance costs comprise all costs involving public accountability of the charity and its compliance with regulation and good practice.

Support costs include central functions.

Creditors

The charity has creditors which are measured at settlement amounts less any trade discounts.

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to Statement of Financial Activities.

Taxation

The charity is a registered charity and as such its income and gains falling within the Income Tax Act 2007 are exempt from corporation tax to the extent that they are applied to its charitable objectives.

Fund accounting Restricted Funds

...CONTINUED

Page 9

HARVESTERS INTERNATIONAL CHRISTIAN CENTRE Notes to the Financial Statements (continued) For The Year Ended 31 December 2023

2.1. Basis of Preparation of Financial Statements - continued

The restricted funds wholly relate to donations made specifically towards the cost of the church’s basement project.

2.2. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

3. Average Number of Employees

Average number of employees during the year was:

4. Tangible Assets

. Tangible Assets
Cost
As at 1 January 2023
Additions
As at 31 December 2023
Net Book Value
As at 31 December 2023
As at 1 January 2023		 Plant &
Machinery
£
-
45,608
45,608
45,608
-

Page 10

HARVESTERS INTERNATIONAL CHRISTIAN CENTRE Detailed Financial Activities Account For The Year Ended 31 December 2023

TURNOVER
Tithe
Special Offering-Seeds
Offerings
FX Church Building and Offering with Other description
COST OF SALES
Statutory Contributions
GROSS SURPLUS
Distribution Costs
Rehearsal Venue-facilities & equip hire
Administrative Expenses
Outreaches
Production (Programs)
Logistics
Retreats and Conferences
Travel and subsistence expenses
Venue Setup and Upgrades
Rent
Digital Advertising
Facilities and Equipment Hire
Leaders Gifts
Consultancy fees
Resources- Next Gen
Guest Services Welfare
Maturity Events
Service Charge
Subscriptions
Creative Programming
Other Charity expenses
OPERATING SURPLUS AND SURPLUS FOR THE FINANCIAL YEAR		 2023
£
£
321,936
12,497
128,513
75,408
538,354
21,028
(21,028 )
517,326
2,256
(2,256 )
625
9,749
1,257
2,241
17,740
197
112,886
1,100
32,350
3,409
107,688
1,753
13,929
610
6,149
1,269
2,297
42,709
(357,958 )
157,112		 2023
£
£
321,936
12,497
128,513
75,408
538,354
21,028
(21,028 )
517,326
2,256
(2,256 )
625
9,749
1,257
2,241
17,740
197
112,886
1,100
32,350
3,409
107,688
1,753
13,929
610
6,149
1,269
2,297
42,709
(357,958 )
157,112
538,354

(21,028 )
517,326

(2,256 )


















(357,958 )
157,112
2,256
625
9,749
1,257
2,241
17,740
197
112,886
1,100
32,350
3,409
107,688
1,753
13,929
610
6,149
1,269
2,297
42,709

Page 11