SPRING OF LIFE ORISUNIYE GLOBAL EVANGELICAL OUTREACH MINISTRIES ANNUAL RETURN FOR YEAR END 31ST of December 2024. GLOBAL Our* Jo SPRING OF LIFE ORISUNIYE GLOBAL EVANGELICAL OUTREACH MINISTRIES CONTENTS PAGE Legal and administrative information Report of the trustees Independent Examinerfs 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 Informatlon Trustees Oluwatoyin Margaret AkinThunmi Ayowale Odeyemi Oluwarolimi Adeniyi Jos¢ph Ad¢niyi Chairpetson. 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 M124AH Bankers Zempler Bank SPRING OF LIFE ORISUNIYE GLOBAL EVANGELICAL OUTREACH MINISTRIES Report of the Trustees for the Year Ended 31st December 2024 The trustees are pleased to present their report together with the financial statements of the charity for the year ended 31 December 2024. 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 suth 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 fund5 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 service5. These extend to a5S15ting members and non-mernber5 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 dictating 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 England/Wales 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 Charity 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 polities and applied them tonsistentlv. Made judgments 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 Charitv and hence for taking reasonable step5 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 SPRING OF LIFE ORISUNIYE GLOBAL EVANGELICAL OUTREACH MINISTRIES Report of the Trustees for the Year Ended 31st December 2024 We, as the Trustees of the Charity who held office at the dèle of approval of these financlal statemÉnts as set out on page 2 each conflrm, so far as we are aware, that: There is no relevant information of whlch the CharSty'5 independent examiner are unaware; and we have taken all the steps that we ought to have taken as Trustees in order to make ourselves aware of any relevant Information and to establish that the charity's independent examiner is aware of that information. Independent Examlner.. The Charity's independent examiner, Solomon Allistar IMAATI of SAA BUSINESS SUPPORT LTD has indicated their willingness to continue in office and offer themselves for appointment. This report pproved by the Trustees on and signed on their behalf by: Oluwatoyin Margaret Akinwunmi Chairmannrustee 2410712025 SPRING OF LIFE ORISUNIYE GLOBAL EVANGELICAL OUTREACH MINISTRIES Independent Examiner's Report for the Year Ended 31st December 2024 I report on the financial statements of the charity for the year ended 31 December 2024 which comprise the Statement of Financial Activities and Balance Sheet with associate notes. This report is made solely to the charity's Trustees, as a body, in accordance with section 145 of the Charities Act 2011 and regulation5 made under section 154 of that Act. My work has been undertaken so that I might state to the charity'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 than the tharity 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 Act) and that an independent examination is needed. It is my responsibility to- Examine the accounts (under 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 Act),. and To state whether matters 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 24107/2025 SPRING OF LIFE ORISUNIYE GLOBAL EVANGELICAL OUTREACH MINISTRIES Statement of financial activities for the year ended 31st December 2023. Unrestricted Restricted Total Funds Total Funds 2024 2024 2024 2023 Notes Incoming Resources General offerings Gift Aid 8,116.21 1.000.00 9.116.21 12,592.00 li Grants li Total Incoming Resources 8,116.21 1,000.00 9.116.21 12,592.00 Resources expended Direct charltable expenditure Governance costs 8,092.44 ,092.44 500.00 J 1,237.00 250.00 li 500.00 Total resources eTpended 8,092.44 500.00 8,592.44 11,487.00 Movement in total fund for the }'ear- Net income I (expenditure) for the year 523.77 1,105.00 Net Gain {LossO on investment 523.77 I,ios.o Fund Bal blf Fund Bal clf 523.77 I,ios.00 1,105.0 SPRING OF LIFE ORISUNIYE GLOBAL EVANGELICAL OUTREACH MINISTRIES Balance sheet as of 31st December 2023. 2024 2024 2023 2023 Note5 FIXED ASSETS TaMgwible assets CURRENT ASSETS 12 1,920.00 2,400.00 Debtors 13 Cash at bankl cash in hand 714.89 I,ios.00 CREDITORS amounts falling due within one year NET CURRENT ASSETS 714.89 1,105.011 TOTAL ASSETS LESS CURRENT LIABILITES 1.205.11 .1.505.00 CREDITORS amounts fglling due more year 13 NET ASSETS 1.205.11 .3.505.00 CHARITY FUTr4DS Unrestricted funds 705.11 3.505.00 Restrleted funds 500.IMI TOTAL FUNDS 1,205.11 3,505.00 SPRING OF LIFE ORISUNIYE GLOBAL EVANGELICAL OUTREACH MINISTRIES Notes to the Financial Statement for the Year Ended 31st December 2024 l. Accounting policies The principal accounting policies are set out below. The accounting policies have been adopted consistently throughout the year. a) Basis of accollnling The financial stalements have been prepared under the historical cost convention, as modified by the revaluation of certain f1xed assets, and are in accordance with the Sialemenl of Recommended Praclice: Accounling and Reporting by Charilies issued in March 2005 and ihe Financial Reporting Standard for Smaller Enlities (effective April 2008). b} Iiicoming resources from generated funds Iiicoming resources from generated funds represents donations towards weekly tithes, church building fuiid, 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 agreernents and performance related grants are recognised as services aTe supplied. OtheT grant payments are Tecognised when a constrnctive obligation arises that results in the payment being unavoidable. Costs of generating funds are those costs incurred in attracting voluntary income, and those incuLTed in activities that raise funds. Grants payable are pa￿entS made to third parties in the furtherance of the charitable objectives of the Trusl. Single or mulii-year grants are accounted for when either the recipient has a reasonable expectation that they will receive a grant and the trustees have agrccd lo pay the grant without condition, or thc rccipicnt lias a reasonable ¢xpcctation ihat thcy will rcceive a grant and any condition attaching to thc grant is outside of the control of the Trust. Provisions for grants ar¢ madc when the inlcntion to mak¢ a grant has bccn ¢oinmuiii¢at¢d to the re¢ipi¢nt bul th¢re is un¢¢rtainty about eithcr th¢ timing of the grai)t or th¢ ainount of grant payablc. Governance costs iiiclude tho8e incurred in the governance of ils assets and are primarily associated with eonscitutional and statutory requirements. Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources. Depreciation Depreciation is calculated at rate5 estimated to write off the cost of all tangible fixed assets over their expected useful lives.. Equipment, Fixtures and Fitting.. 200/0 DuTing the year undeT review, the church decided to continue to separate its equipment from its furniture fixtures and fittings. A depreciation rate of 20 % was applied on each categoTy on a reducing balance basis. c) Fund structurc 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 eitlier.. Unrestricted general funds - these are funds which can be used in accordance witli the charitable objects at the discretion of the trustees. Designated fimds - these are funds earmarked by the trustees out of unrestricted general funds for specific tiiture purposes or projects. Restricted funds - these are funds that can only be used for restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for restricted purposes. Endowment fi￿dS - these are funds that represent assets which must be held pennanently 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 or10sses arising on the investments form part of the fund. Investment management charges and legal advice Telating to the fund are charged against the nd. fj VAT The charity is not registered for VAT and accordingly expenditure includes VAT were appropriate. 2 Income resources InLome cotnprise5 of donation5 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 2024 2023 POST Depreciation 480.00 5 Taxation The charity is exempt from COTporation tax on its charity. 6 Tangible fixed assets Equipment Fixtures and fittings Total Cost: At l January 2024 Additions 2,400.00 2,400.00 At 31 December 2024 2,400.00 2,400.00 Depreciation At l January 2024 Provision for year At 31 December 2024 480.00 480.00 480.00 480.00 NET BOOK VALUE 1,920.00 1,920.00 7 Debtors 2024 2023 Prepayment and loans 8 Creditors: amounts falling due more than one year 2024 2023 Other Creditors 8 Creditors: amounts falling due within one year 2024 2023 Other Creditors Income and Expense Statement INCOME Voluntary Donations 9,116.21 TOTAL INCOME 9,116.21 EXPENSES Rent 3,800.01 200.00 Utilities Charity Travel 1,736.00 103.54 Miscellaneous 6.04 Finance fees 35.26 Professional Fees 233.00 Subsistence 31.59 Accountant fe¢s Evangelism Vehicle Expenses Admin Cost 115.00 1,302.00 715.00 315.00 Total Expenses 8,592.44 Surplus 523.77