Believers Worship Centre (A Charitable Incorporated Organisation)
Annual Report and Financial Statements
For the year ended 31 March 2025
Charitable Incorporated Organisation Number: 1202143
Believers Worship Centre Trustees’ Annual Report and Financial Statements for the year ended 31 March 2025
| Contents | |||
|---|---|---|---|
| Page | |||
| Trustees’ Annual Report | 1 - 5 | ||
| Independent Examiner’s Report | 6 | ||
| Statement of Financial Activities | 7 | ||
| Balance Sheet | 8 | ||
| Notes to the Financial Statements | 9-12 |
Believers Worship Centre Trustees’ Annual Report for the year ended 31 March 2025
The Trustees of the Charity present their Annual Report and Accounts for the year ended 31 March 2025.
1. Reference and Administrative Details
Name of Charity: Believers Worship Centre Charitable Incorporated Organisation Number: 1188688 Registered & Operational Office: Capital Office 124-128 City Road LONDON EC1V 2NX Bankers: Unity Trust Bank 4 Bridley Place Birmingham B1 2JB Accountants: Samuel Associates 36 Charcroft Gardens Enfield Middlesex EN3 7HA
The trustees who served during the period to the date of this report are :
Mr Kwasi Boahen Chair Elected 12.02.2023 Mr Jones Yaw Opoku Trustee Elected 21.01.2024 Mr Justice Opoku Boatemaa Trustee Elected 21.03.2023 Mr Augustus Frimpong-Donkor Trustee Elected 20.03.2023 Mr Samuel Owusu Duarte Trustee Elected 20.03.2023 Mr Fred Atta Trustee Elected 12.03.2023 Mr Thomas Denteh Trustee Elected 12.02.2023
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Believers Worship Centre Trustees’ Annual Report for the year ended 31 March 2025
2. Structure, Governance and Management
Governing Document
Believers Worship Centre (BWC) is an Association model Charitable Incorporated Organisation (CIO), registered on 02 March 2023. The charity is governed by its Constitution and the Trustees bear ultimate responsibility for the management of the administration of the charity.
Organisational Structure
BWC is governed by its Executive Committee which is responsible for setting the strategic direction and policies of the charity. The Executive Committee carry the ultimate responsibility for the conduct of BWC and for ensuring that the charity satisfies its legal and contractual obligations. Trustees meet every three months and delegate the day-to-day operations of the organisation to senior management.
Appointment and induction of Trustees
The trustees above are the first trustees of the charity. Upon their appointment, the charity organised a training day-out for them. The training was delivered by the accountant and covered the constitution, the role of trustees, and the reporting requirements of the Charity Commission.
Public Benefit
The Trustees take into account the guidance of the Charity Commission on Public Benefit. We provide public benefit principally in the provision of a Place of Worship with regular services open to all members of the public. We seek to contribute to the moral and spiritual education of children and young people and to engage with and promote self-worth in those who have suffered social exclusion. We seek to fulfil our charitable objectives in the advancement of Christianity and in supporting those in need.
Major risks
Trustees recognise that any major risks to which the charity is exposed need to be reviewed and systems put in place to mitigate those risks.
Included in external risks is that of the loss of funding. At present, the main source of funding for the charity are the donations from the congregation and members.
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Believers Worship Centre Trustees’ Annual Report for the year ended 31 March 2025
This is a new charity, and the trustees would endeavour to create areas of interest for the young people in the church so as to start projects that are funded by external funding bodies.
Internally, procedures have been put in place to resolve any conflicts among the members of the congregation as it is a recognised fact that conflicts break up congregations.
3. Objectives and Activities
Objects
The objects of the charity are:
To advance the Christian Faith for the benefit of the public throughout England & Wales in accordance with the Statement of Faith by providing facilities for Christian worship, prayer and fellowship, religious education, outreach and pastoral care in the local community.
4. The Activities and Achievements of the Charity
Providing facilities for Christian Worship, Prayer, and Fellowship
The charity operates at following centres in England:
-
London, average attendants 80 (2024 – 65)
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Wembley, average attendants 35 (2024 – 30)
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Birmingham, average attendants 45 (2024 – 35)
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Luton, average attendants 23 (2024 – 20)
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Coventry, average attendants 25 (2024 – 17)
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Nottingham, average attendants 15 (2024 – 10)
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Manchester Wiggan, average attendants 15 (2024 – 8)
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Milton Keynes, average attendants 14 (2024 – 10)
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Believers Worship Centre Trustees’ Annual Report for the year ended 31 March 2025
Religious Education
Children’s programme.
The designated teams responsible for the children’s programme have been charged to speed up on their setup and to run an activity to benefit the children in our community. The organisers report indicates they are in touch with various drummer and singing groups who will be teaching and help to run the weekly activities depending on our budget and their availabilities.
Outreach and Pastoral Care in the local community
This is a young church and has not yet started doing outreach and pastoral care in the community, but plans are being put in place for doing so in the near future.
5. Financial Review
The financial results for 2025 reflect a healthy financial condition with a robust ending surplus, primarily driven by effective income generation strategies and adequate expenditure management. Building on the strategic management of resources will be essential to sustain and enhance financial performance in future years. This report provides a foundational analysis to guide strategic decisions and financial planning for subsequent periods.
The data point to a solid base from which the church can continue to operate and expand its activities. The positive cash flow, particularly the surplus achieved, underscores the church’s capability to meet its financial obligations while also investing in growth opportunities. Moving forward, it will be crucial to continue refining budgeting practices and exploring new revenue streams to ensure financial stability and resilience against potential economic shifts.
The church is stable financially, with positive cash flows from operations. However, addressing income volatility, high rent expenses, and supporting smaller branches will be critical to sustaining and improving the church’s financial health. Proactive planning, cost control, and innovative fundraising approaches will help leverage available opportunities while mitigating existing challenges.
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Believers Worship Centre Trustees’ Annual Report for the year ended 31 March 2025
6. Future Plans
Enhanced Fundraising Strategies: The church could explore additional fundraising activities, such as special events, online donation platforms, or partnership initiatives to boost income across branches, especially those with lower contributions. Cost Optimisation: Rent costs are a significant expenditure. The church could reduce operational costs by exploring shared spaces, renegotiating lease terms, or consolidating underutilized facilities.
Focus on Smaller Branches: Targeted support for underperforming branches (e.g., Coventry and Milton Keynes) through resource allocation, leadership training, and outreach initiatives could help improve their financial contributions.
Community Engagement: Increasing community engagement through outreach programs, workshops, or social events could boost attendance and increase offerings across all branches. Opportunities Identified include:
Strategic Financial Planning: The church can leverage its strong financial months by planning major expenditures during or just after these periods. This approach could help maintain a steady cash flow and avoid shortfalls during leaner months.
Expansion of Revenue Streams : Exploring additional avenues for revenue, such as hosting community events, renting out church facilities, or establishing partnerships with local businesses, could help diversify income sources and stabilize financial performance throughout the year.
Community Engagement Initiatives : By capitalizing on the periods of high income, the church could fund more community outreach programs, which not only fulfil its mission but potentially bring in new members and, consequently, additional tithes and offerings.
By order of the Board
Kwasi Boahen
…………………………. Chair
26 January 2026
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Independent Examiner’s Report to the Trustees of Believers Worship Centre
I report to the trustees on my examination of the accounts of the above charity for the year ended 31st March 2025.
Respective Responsibilities of Trustees and Examiner
As the charity's trustees, 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 Charity’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner’s statement
The charity’s gross income did not exceed £250,000 and I am qualified to undertake the examination by being a qualified member of The Association of Charted Certified Accountants (ACCA).
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:
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the accounting records were not kept in accordance with section 130 of the Charities Act; or
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the accounts did not accord with the accounting records; or
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the accounts did not comply with the applicable requirements concerning the form and content 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.
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.
Samuel K. Tsipotey, FCCA, MSc
26 January 2026
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Believers Worship Centre Trustees’ Annual Report for the year ended 31 March 2025
Statement of Financial Activities (Incorporating an Income and Expenditure Account) For the year ended 31 March 2025
| Notes Income and endowments Donations and legacies 2 Income from charitable activities 3 Total Income and endowments Expenditure Expenditure on charitable activities 4 Net income/(expenditure) for the year Reconciliation of funds Total funds brought forward Total funds carried forward |
2025 2025 2024 Unrestricted Total Unrestricted (amended) £ £ £ |
|---|---|
| 112,852 112,852 66,245 11,141 11,141 39,472 |
|
| 123,993 123,993 105,717 |
|
| 85,990 85,990 26,338 |
|
| 38,003 38,003 79,380 79,380 79,380 - |
|
| 117,383 117,383 79,380 |
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Believers Worship Centre Trustees’ Annual Report for the year ended 31 March 2025
Balance Sheet As at 31 March 2025
Balance Sheet as at 31st March 2025
| Notes Current assets Cash at bank and in hand 5 Current liabilities Accrued expenses Net current assets Net assets |
Unrestricted Unrestricted Unrestricted 2025 2025 2024 £ £ £ |
|---|---|
| 119,883 119,883 81,508 (2,500) (2,500) (2,128) |
|
| 117,383 117,383 79,380 |
|
| 117,383 117,383 79,380 |
The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities issued in March 2005.
The Trustees acknowledge their responsibilities for:
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ensuring that the company keeps accounting records
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preparing accounts which give a true and fair view of the state of affairs of the CIO as at 31 March 2024 and of its results for the year then ended.
The financial statements were approved by the Trustees on 26 January 2025 and signed on their behalf by:
Jones Yaw Opoku
Trustee
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Believers Worship Centre Trustees’ Annual Report for the year ended 31 March 2025
Notes to the accounts
1. Accounting Policies
The principal accounting policies are summarised below. The accounting policies have
been applied consistently throughout the year.
a) Basis of Preparation
The financial statements have been prepared under the historical cost convention in accordance with applicable accounting standards and the Statement of Recommended Practice (SORP): Accounting and Reporting by Charities, issued in March 2005.
b) Charity Status
The charity is a Charitable Incorporated Organisation (CIO). The members of the charity include the trustees who are also ordinary members and named on page In the event of the charity being wound up, the liability of members is nil.
c) Fund Accounting
Unrestricted Funds comprise accumulated surpluses and deficits on general funds that are available for use at the discretion of the Trustees in furtherance of the Charity’s objects and that have not been designated for other purposes.
Restricted Funds are funds subject to restrictions on their expenditure imposed by the donor or through the terms of an appeal.
d) Incoming Resources
Recognition of Incoming Resources
These are included in the Statement of Financial Activities (SOFA) when
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the charity becomes entitled to the resources
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the trustees are virtually certain they will receive the resources; and
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the monetary value can be measured with sufficient reliability.
e) Resources Expended
Recognition of Expenditure and Liabilities
Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources.
Expenditure is recognised on an accruals basis as a liability is incurred.
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Believers Worship Centre Trustees’ Annual Report for the year ended 31 March 2025 Notes to the accounts
Costs of Charitable Activities
These comprise those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. They include both costs that can be directly allocated to the charity’s activities and costs of an indirect nature necessary to support these activities .
Governance Costs
These are the costs associated with the governance arrangements of the charity. They include the costs of the preparation and examination of statutory accounts, trustees’ meetings and the costs of any legal advice given to trustees on governance or constitutional matters.
All costs are charged between the expenditure categories of the Statement of Financial Activities on a basis designed to reflect the use of the resource. Costs relating to a particular activity (or project) are allocated directly; others are apportioned on an appropriate basis .
f) Volunteer Help
The value of any voluntary help received is not included in the accounts but is described in the trustees’ annual report, where material.
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Believers Worship Centre Trustees’ Annual Report for the year ended 31 March 2025 Notes to the accounts
2. Donations and legacies
| 2. Donations and legacies | |
|---|---|
| Voluntary income Donation from BWC CIC Welfare donations Donation from Welfare Fund General donations Total |
2025 2024 Unrestricted Unrestricted £ £ |
| - 65,000 - 1,245 - 629 112,852 0 |
|
| 112,852 66,874 |
| 2025 | 2024 | |
|---|---|---|
| Unrestricted | Unrestricted | |
| £ | £ | |
| Tithes & offerings | 10,956 | 39322 |
| Thanksgiving | 185 | 150 |
| Total | 11,141 | 39,472 |
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Believers Worship Centre Trustees’ Annual Report for the year ended 31 March 2025 Notes to the accounts
| 4. Charitable expenditure Direct charitable expenditure: Bereavement assistance Hall hire Other charitable expenditure Support costs Telephone Bank charges Other support costs Governance costs Independent examination fees Trustee training Total charitable expenditure |
2025 2024 Unrestricted Unrestricted £ £ |
|---|---|
| 10,650 6,433 55,561 17,164 11,757 - |
|
| 77,968 23,597 |
|
| 838 259 498 193 3,686 0 |
|
| 5,022 45 2 |
|
| 2,500 1,500 500 790 |
|
| 3,000 2,290 |
|
| 85,990 26,339 |
5. Cash at bank and in hand
Includes a balance of £24,432 belonging to the Members Welfare Fund
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