SPRING OF LIFE ORISUNIYE GLOBAL EVANGELICAL OUTREACH MINISTRIES ANNUAL RETURN FOR YEAR END ST 31 of December 2023. C)iOBAL Our JOMPI 1..4
SPRING OF LIFE ORISUNIYE GLOBAL EVANGELICAL OUTREACH MINISTRIES CONTENTS PAGE Legal and administrative information Report of the trustees Independent Examiner's report Statement of financial activities Balance sheet Notes to the financial statements 10-12 Income and expense statements 13
SPRING OF LIFE ORISUNIYE GLOBAL EVANGELICAL OUTREACH MINISTRIES Legal and administrative information Trustees Oluwatoyin Margaret Akinwunmi Ayowal¢ Odcy¢mi Oluwarotimi Adeniyi Joseph Adeniyi Chairperson. Address Unit 4, Greenburn Centre, Selinas Lane, Dagenham, Essex, RM8 IQH CHARITY REGISTION NUMBER . 1202879 Independent Examiners Solomon Allistar IMAATI 54 Carriocca Business Park, Hellidon Close, Ardwick Manchester M12 4AH Bankers Zempler Bank
SPRING OF LIFE ORISUNIYE GLOBAL EVANGELICAL OUTREACH MINISTRIES Report of the Trustees for the Year Ended 31st December 2023 The trustees are pleased to present their report together with the financial statements of the charity for the year ended 31 December 2023. Structure, Governance and Management Objectives and Activities The objects of the organisation are for the benefit of the public.. to advance the Christian faith in accordance with the statement of faith in such ways and in such parts of the United Kingdom by organisation from time to time as the trustees deem fit. to relieve sickness and financial hardship and to promote by the provision of funds. goods or services of any kind including through the provision of funds and sUPPOrt in such parts of the United Kingdom as the trustees deem fit from time to time. Christian Counselling, Advice, and Information In propagating the name of Our Lord Jesus Christ, the parish engaged in evangelism, prayer sessions, spiritual counselling, advice. and information to the general public during regular weekly services. These extend to assisting members and non-members in housing and financial needs, the provision of regular'Health Check, for all to attend and discuss them health problems and have medical check-up with volunteer Doctors and Nurses. This forum has been very helpful in dirtating early symptoms of sicknesses and illnesses and referring the affected to hospitals for treatment and cure. Financial assistance for charitable objects The parish donated generously to many individuals in need, such as destitute, the disabled and the sick in our society. We also rendered financial support to various organisations in support of their own humanitarian and charitable activities Other Charitable activities Other charitable activities include spreading the Word of God among all nations and announcing the good news of the Kingdom of God to the poor in spirit. This was done through our Spiritual Worships which are open to the general public, revivals, healings, and evangelism which are conducted to stimulate spiritual awareness among the people, seminars and symposia which are organised for people to know and understand more about the Word of God Financial Sources The church income comes mainly from the weekly tithes and church building funds, other church contributions such as thanksgiving, annual conference, travel, and music funds.
Statement of Trustees, responsibilities 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 Englandlwales 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 Ch3rity and of the surplus or deficit of the Charity for that period. In preparing those financial statements the Board of Trustees have.. Selected suitable accounting policies and applied them consistently. Made jLJdgments and estimates that are reasonable and prudent, 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 lunless 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. Statement of disclosure of information to independent examiner
OUTREACH MINISTRIES Report of the Trustees for the Year Ended 31st December 2023 We. •$ theTrustees ol the Ch•rlty WI held offlce •1 the date ol approval ol these flnaficlal statements 8$ set ovl p4e 2 exh cmftrm. so f•r as we •re 8ware. that: There Is no relevant Infomatlon ol whlch ihe Charttrfs Independent exarnlner are un¥waTe: and have taken all the step5 that we ou8ht to have taken as Trustees In order to mako ourselyts aware ol any relevant Informallon and to estab115h thot the ct*rlty's IndepennI examlner15 aware of thai IDfomi•tlon. The (hath's h)depakni examlner, Solomon Alllstsr (MAAT) ofW BUSINESS suppoKr LTD has dkated thelr wllliw to contlnue In ofllce and offer thefflselve5 for appolntment Thts reikn was aFproved by the Trustees on and Signed on thelr behalf br. Oluwatoyin MargaretAk1rNnrn1 Chalrman/frustee 1611012024
SPRING OF LIFE ORISUNIYE GLOBAL EVANGELICAL OUTREACH MINISTRIES Independent Examinerfs Report for the Year Ended 31st December 2023 I report on the financial statements of the charity for the year ended 31 December 2023 which comprise the Statement of Financial Activities and Balance Sheet with associate notes. This report is made 501ely 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 tharity's Trustees those matters l 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 thari 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 144121 of the Charities Act 2011 (the Actl and that an independent examination is needed. It is my responsibility to: Examine the accounts lunder Section 145 of the Charities Act). To follow the procedures laid down in the General Directions given by the Charity Commissioners lunder Section 14515llbl of the Charities Actl- and To state whether matter5 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/Charity 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 present a 'true and fair, view, and the report IS limited to those matters set out in the statement below. Independent Examiner's statement In connection with my examination, no matter has come to my attention.. 11 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 have not been met. or 21 to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached. SOLOMON ALLISTAR IMAATI 1611012024
SPRING OF LIFE ORISUNIYE GLOBAL EVANGELICAL OUTREACH MINISTRIES Statement of financial activities for the year ended 31st December 2023. Unrestricted Restricted Tot81 Funds Total Funds 2023 2023 2023 2022 Notes Jneoming Resourees General offerin¥5 Gift Aid 12,592.00 12,592.00 Grants li Total Incoming Resollrces 12,592.00 12,592.00 Resources eYpended Direct charitable expenditure Governance costs 11.237.lJO 2511.110 11.237.00 250.uo Total resources expended 11,487.110 11.487.110 Movement in total fund for the year- Net illcome I (expenditure) for th¢ >'eAr 1,105.0 Net Gain (Los50 on investment 1,105.01 Fund Bal blf 1,105.00 Fund Bal clf
SPRING OF LIFE ORISUNIYE GLOBAL EVANGELICAL OUTREACH MINISTRIES Balance sheet as of 31st December 2023. 2023 2023 2022 2022 Notes FIXED ASSETS Tangible assets CURRELYT ASSETS 12 2,400.00 Debtors 13 Cash at bankl e#sh in hand 1.105.00 CREDITORS amount5 falling due withiTh one ye#r NET CURRENT ASSETS 1,105.00 TOTAL ASSETS LESS CURRENT LIABILITES 3,505.00 CREDITORS amounts falling due more than vear 13 NET ASSETS 3,505.00 CHARITY FUNDS Unres¢ri¢ted funds 3,505.00 TOTAL FUNDS 3,505.00
SPRING OF LIFE ORISUNIYE GLOBAL EVANGELICAL OUTREACH MINISTRIES Notes to the Financial Statement for the Year Ended 31st December 2023 l. AcLollnting policies The principal accounting policies are set out below. The accounting policies have been adopted consistently throughout the year. a) Basis of accounting The financial statements have been prepared under the historical cost convention, as modified by the revalua¢ion of certain fixed assets, and are in accordance with the Statement of Recommended Practice.. Accounting and Reporting by Charities issued in March 2005 and the Financial Reporting Standard for Smaller Entities (effective April 2008). b) Incoming Tesources from generated funds Incoming Tesources from generated funds represents donations towards weekly tithes, church building fund, thanksgiving, annual conference, travel and other contributions c) Incoming resources. Interest receivable Interest is credited in the year in which it is received. d) Resources expended Expenditure is recognised when a liability is incurred. Funding provided through contractual agreements and perforn]ance related grants are recognised as services are supplied. Other grant payments are recognised when a constructive obligation arises that results in the payment being unavoidable. Costs of generating funds are those costs incurred in attracting voluntary income, and those incurred in activities that raise funds. Grants payable are payments made to third parties in the furtherance of the charitable objectives of the Trust. Single or multi-year grants are accounted for when either the recipient has a reasonable expectation that they will receive a grant and the trustees have agreed to pay the grant without condition, OT the recipient has a reasonable expectation that they will receive a grant and any condition attaching to the grant is outside of the control of the Trust. Provisions for grants are made when the intention to make a grant has been communicated to the recipient but there is uncertainty about either the timing of the grant OT the amount of grant payable. Governance costs include those incurred in the governance of its assets and are primarily associated with constitutional and statutory requirements. Support cost5 include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources. Dcprcciation Depreciation is calculated at rates estimated to write off the cost of all tangible fixed
ass¢ts ov¢r th¢ir ¢xp¢¢t¢d us¢ful lives.. Equipincnt, Fixturcs and Fitting: 201/b o During the year under review, the church decided to continue to separate its equipnient from its furnitui'e fixtures and fittings. A depreciation rate of 20 % was applied on ¢ach category on a reducing balanc¢ basis. e) Fund structure The principal accounting policies are set out below. The accounting policies have been adopted consistently throughout the year. The funds held by the charity are either.. Unrestricted general fiu]ds - these are fidS which can be used in accordance with the charitable objects at the discretion of the trustees. Designated funds - these are funds eamiarked by the trustees out of unrestricted general funds for specific future purposes or projects. Restricted funds - these are funds that can only be used for Testricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for restricted purposes. Endowment funds - these are funds that represent assets which must be held permanently by the charity. Income arising on the endowment fund can be used in accordance with the objects of the charity and is included in unrestricted income. Any capital gains or losses arising on the investments form part of the fund. Investment managFement charges and legal advice relating to the fund are charged against the fid. fj VAT The charity is not registered for V AT and accordingly expenditure includes VA T were appropriate. 2 Income resources Income comprises of donations and tithes 3 Employee information None of the trustees received any remuneration or reimbursement of expenses during the year. 4 Net income resources This is stated after charging 2023 2022 POST Depreciation 2,400.00 5 Taxation The charity is exempt from corporation tax on its charity.
6 Tangible fixed assets Equipment Fixtures and fittings Total Cost: At l January 2023 Additions At 31 December 2023 3,000.00 3,000.00 3,000.00 3,000.00 Depreciation At l January 2023 Provision for year At 31 De¢ember 2023 600.00 601).00 600.00 600.00 NET BOOK VALUE 2,400.00 2,400.00 7 Debtors 2023 2022 Prepayment and loans 8 Creditors: amounts falling due more than one year 2023 2022 Other Creditors 8 Creditors: amounts falling due within one vear 2023 2022 Other Creditors
Income and Expense Statement INCOME Voluntary Donations 12,592.00 TOTAL INCOME 12,592.00 EXPENSES Hall hire 3,200.00 699.00 Computers Clothing Travel 1,600.00 1,200.00 150.00 Miscellaneous Admin Cost 440.00 Professional Fees 250.00 Sllbsistenee 352.00 Musical instrument Evangelism 700.00 2,646.00 Total Expenses 11,237.00 Surplus 1,105.00