## **SPIRIT & LIFE BIBLE CHURCH**
**REPORT & FINANCIAL STATEMENTS 3rd July 2023 - 5th April 2024**
## **Spirit & Life Bible Church**
## **3rd July 2023 - 5th April 2024**
|**Contents**|**Page**||
|---|---|---|
|Legal and Administrative information||1|
|Report of the Trustees||2|
|Independent Examiners Reports||5|
|Statement of Financial activities||6|
|Balance Sheet||7|
|Notes forming part of the financial statements||8|
## **Legal and Administrative information**
## **Governing Documents**
Spirit & Life Bible Church is Charitable Incorporated Organisation (CIO) governed by a trust deed. Eligibility for members of the charity and members of the board of trustees is governed by the trust
There are no restrictions in the governing document on the operation of the charity or on its vesting power, other than those imposed by general charity law.
The Trustees serving during the year and since the year end were as follows:
## **Elected trustees**
Bishop Gordon A Gordon-Osagiede Pastor (Ms) Susan Blankson Ogo Faith Chuma Patricia Orobor
CIO Number: 1203825
## **Operational Address**
1 Ironbridge Mews London E15 4FH
## **Independent Examiner**
Tolu Balogun 71-75 Shelton Street London WC2H 9JQ
## **Bankers**
Barclays Bank Plc 251-253 Selhurst Road Selhurst London SE25 6XS
Lloyds Bank
## **Report of the Trustees for 3rd July 2023 - 5th April 2024**
The trustees are pleased to present their report together with the financial statements of the charity for 5th April 2024.
The legal and administrative information set out on page 1 forms part of this report. The financial statements comply with current statutory requirements, the trust deeds of the charity and the Statement of Recommended Practice – Accounting and Reporting by Charities issued in 2005; SORP applicable to charities preparing their accounts in accordance with FRS 102.
## **Structure, governance and Management**
Spirit & Life Bible Church is a Charitable Incorporated Organisation (CIO) and was registered by the Charity Commission on 3rd July 2023. The Board of Trustees consists of at least three and not more than nine individuals, all of whom must be members.
## **Trustee Induction and Training**
The existing trustees are already familiar with the pratical work of the charity. Additionally, any new trustees are invited and encouraged to attend training sessions to familiarize themselves with the charity and the context in which it operates, including obligations of trustees, and the operational framework for the charity.
## **Objects of the charity and activities**
The Charity's principal objectives are the propagation of the gospel, the advancement of the Christian Faith and the relief of poverty amongst it's members of Spirit and life Family bible Church and Godhead International Prayer Ministry Home and Abroad.
To demonstrate God's love and deliverance power through prayers and practical assistance to the needy in our community. Educate and empower all people of our community irrespective of denomination, belief, nationality, age and status.
This is achieved through the provision of financial and material gifts and the organization of conferences for issues affecting the family, nation, business and careers.
## **Organisation**
The Trustees meet quarterly to review the finances and administration of the Charity. Trustees are appionted for an unspecified period, any vacancies being filled by the selection and appointment of suitable person by the Trustees.
## **Risk management**
During the period, the Trustees have reviewed the general environment in which the Charity operates to identify any serious potential risks, and make arrangements to avoid such risks or mitigate their impact. Fire Risk Assessments, have been undertaken to the church Auditoriums and Office to improve evacuation of premises in the event of fire. We continue to monitor the implementation of the Disaster Recovery Plan, and undertake checks, where appropriate, with the Criminal Records~Bureau (CRB) on all those working directly with children.
Safeguarding regulations are in progress to safeguard and protect vulerable people and others within the charity. We engage in "fair processing notices" throughout for awareness on how data are garthered and used.
**Report of the Trustees for 3rd July 2023 - 5th April 2024**
## **Review of the activities and future developments**
The charity continued to build on the primary objectives of impacting London and other parts of United Kingdom.
The Charity continues to operate overseas and missionary outreaches included vists to Nigeria, Germany, Italy, Austria, USA, Argentina and Philippine.
The charity acquired a property in late March 2024, intended for use in all its charitable activities.
We continue to support the Mission Care Project (An Elderly People's Home), Dormer Well Nursing Home as part of our mission work in London. The charity still continue to deliver food items to the homeless on the street around the church venue.
The charity donates to Compassion UK Chritian Child Development (sponsor a child in Hatti). The Charity was also part of Premier radio's feed the hungry project.
The Charity have ongoing commitment with the projects in Ealing and Camberwell (both London Borough) called "Food Banks Saturdays with the community" And also still participate in the Wech's Community food bank projects when food items were donated to the community. This year we donated clothes to destitute homeless people around Elgin Junction on Harrow Road, Harlesden, Barking, Hackney. The charity has been able to support the widowed in our mists with little purse.
## **Volunteers**
Many volunteers give up their time to help at the church, particularly at weekends and in the evenings. We are greatly indebted to these volunteers for their commitment and support
## **Financial Review**
## **Reserves Policy**
The trustees are satisfied with the level of reserves as shown in the accounts. The funds are sufficient to
provide specialist training and help in the community. Donations are paid at the discretion of the trustees. It is the policy of the Charity to maintain sufficient unrestricted funds to cover management and
administration costs. Restricted funds are funds that account for situations where a donor requires that a
donation must be sepent on a particular purpose or where funds have been raised for a specific purpose.
## **Investment policy and objectives**
The charity is CIO whose aim is to promote religious activities. It has fixed assets in the form of equipments. The current financial policy is to use whatever asset that may be acquired and the income generated by the asset to further the objectives of our charity.
## **Future developments**
The Charity aims as part of fulfilling its main objectives, to continue to explore various ways of spreading the gospel of Christ in an effective manner. The Charity is looking to grow in membership and continue to develop its members to make life-changing impact in the society. The Charity is planning to organise Drop-in Day Centres where members of the community could attend to network, socialise and improve their social quality of life. It is also the plan of the charity to organise schemes to support vulnerable adults seeking employment to explore job opportunities.
## **Review of Financial Position**
The net incoming resources for the year amounted to £43,120. All these have been unrestricted resrves. This year restricted is £5,445. All the charitable activites the church as been involved in doing, with the agreement of the trustee and members.
## **Principal Funding Sources**
The principal funding source for the charity is donations from the congregations at services and programs held.
## **Report of the Trustees for 3rd July 2023 - 5th April 2024**
## **Statement of Trustees' Responsibilities**
The Trustees are responsible for preparing the Annual report and Financial Statements in accordance with applicable law and regulations, which give a true and fair view of the state of affairs of the charity.
In preparing these financial statements, the trustees are requested to:
- Select suitable accounting policies and then apply them consistently;
- Observe the methods and principles in the Charites SORP;
- State whether applicable accounting standards and statements of recommendable practice
have been followed, subject to any departures disclosed and explained in the financial statements;
- Make judgements and estimates that are reasonable and prudent; 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 will 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, They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
## **Approval**
This report was approved by the board of trustees on the 10/02/2025, and signed on its behalf by:
## Ogo Faith Chuma
## **Independent Examiner’s Report**
## **To the members and trustees of Spirit & Life Bible Church**
I report on the accounts of the church/charity for 3rd July 2023 - 5th April 2024 set out on pages 6 to 10
## **Respective responsibilities of the trustees and examiner**
As described on pages 2 to 4 the trustees are responsible for the preparation of financial statements; and considers that the audit requirements of Section 144 of the Charities Act 2011 (the Act) do not apply and that an independent examination is needed.
It is my responsisblity to:
- exmaine the accounts under section 145 of the Charities Act,
- to follow the applicable directions given by the Charity Commission
- under section 145(5)(b) of the Act, and
- to state whether particular 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 included a review of accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, seeks explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in a full 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 satatement below.
## **Independent examiner’s statement**
In connection with my examination, no matter has come to my attention:
1. 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 accounts which accord with the accounting records and to comply with the accounting
- requirements of the Act.
have not been met; or
2. to which, in my opinion attention should have been drawn in order to enable a proper understanding of the accounts to be reached.
Signature Date: 11/02/2025 Tolu Balogun (Independent Examiner)
## **Statement of Financial Activities for 3rd July 2023 - 5th April 2024**
|||||**Total Funds**|
|---|---|---|---|---|
|||**Unrestricted**|**Restricted**||
||**Note**|**fund**|**fund**|**05/04/2024**|
|**Incoming Resources**||**£**|**£**|**£**|
|Donations, Legacies & similar|||||
|income|3|40,534|-|40,534|
|Other incoming resources|4|2,586|5,445|8,031|
|**Total incoming resources**||43,120|5,445|48,566|
|**Resources used**|||||
|Cost of generating funds|5|15,890|-|15,890|
|Charitable activities|6|59|-|59|
|Governance costs|7|4,190|-|4,190|
|**Total resources used**||20,138|-|20,138|
|**Net Incoming Resources**||**22,982**|**5,445**|**28,427**|
|Transfer between Funds||-|-|-|
|**Net Movements in funds**||**22,982**|**5,445**|**28,427**|
|**Balance at 3 July 2023**||**247,727**|**-**|**247,727**|
|**Prior Year Adjustment**||-||**-**|
|**Balance at 05/04/2024**||**270,709**|**5,445**|**276,154**|
g g y
g
resources and resources expended derive from continuing activities.
## **Balance Sheet as at 3rd July 2023 - 5th April 2024**
|**Fixed Assets**
**Note**
Tangible assets
11
**Current Assets**
9
Debtors
Cash at bank and in hand
Creditors: amounts falling due within
one year
10
Accountancy fees
**Net current assets**
**Total assets less current liabilities**
Creditors: amounts falling due after
one year
Loan Account(Mortgage)
10
**Net assets**
**Represented by Funds:**
12
Unrestricted
Restricted
Prior year adjustment
Designated
**Total**|||**05/04/2024**|
|---|---|---|---|
||||**£**
379,022|
||
|
|**379,022**
48,232
48,232
1,100|
|||
||
||
|
|**48,232**
**426,154**
150,000|
||||**276,154**|
||
|
|270,709
5,445
-
-|
||||**276,154**|
The Trustees are satisfied that the charity is entitled to exemption from the requirement to obtain an audit under section 144 of the Charity Act 2011 and that the members has not required the charity to obtain an audit.
The Trustees acknowledges their responsibilities for complying with the requirements of the Charity Act 2011 with respect to accounting records and the preparation of accounts.
The accounts were approved by the trustees and signed on their behalf.
## **Ogo Faith Chuma**
On Behalf of the Board of Trustees
Date: 10/02/2025
## **Profit and Loss Account for 3rd July 2023 - 5th April 2024**
|**Notes**
Turnover
Administrative Expenses
Operating profit
Interest receivable
Profit on ordinary activities before taxtion
Profit for the financial year|**05/04/2024**
£
48,566
20,138|
|---|---|
||28,427|
||28,427|
||28,427|
## **Notes forming part of the financial statements for the year ended 05 April 2024**
## **1. Accounting policies**
The financial statements have been prepared under the historical cost convention and in accordance with the Statement of Recommended Practice, Accounting and Reporting by Charities SORP FRS 102, The principal accounting policies adopted in the preparation of the financial statements are as follows:
## **Incoming resources**
## **Donations and grants**
Income from donations and grants are included in incoming resources when these are receivable.
p y g g p g p purposes, which do not amount to pre-conditions regarding entitlement, this income will be included in
## **Resources expended** p
inclusive of any VAT which cannot be recovered.
## **Tangible fixed assets**
Individual fixed assets are capitalised at cost.
|g|p|g|
|---|---|---|
|follows:|||
|||Annual rate|
|Funitures & Fixtures||25%|
|Computer||25%|
|Building & Land||2%|
## **Fund accounting**
Funds held by the charity are either:g objects at the discretion of the trustees.
g p p p
and can only be used for the purpose for which it was given.
p p p
statements.
## **2. Legal status of the charity**
The charity is Charity Incorporated Organisation governed by a trust deed.
## **Notes forming part of the financial statements for 3rd July 2023 - 5th April 2024 continued**
|**3. Donations, Legacies & similar income**
Gift Aid
Tithes & offerings
**4. Other incoming resources**
Donations - pledge
Building fund
**5. Cost of generating funds**
Internet/Telephone
Rent & Rates
Gift & Honorarium
Children's Department
Transport & Travel
Printing & stationery
Training & Conference
Account Fees
Insurance
Depreciation
Bank Charges & Interest
Church Outreach
Electricity - Lighting, etc.
Church running expenses
**6. Charitable activities**
Mission Expenses
Sundry|**05/04/2024**|
|---|---|
||**£**
-
40,534|
||**40,534**|
||2,586
5,445|
||**8,031**|
||55
1,083
-
-
2,000
67
1,048
1,100
-
8,483
-
1,716
-
338|
||**15,890**|
||35
24|
||**59**|
## **7. Governance costs**
Professional fees
4,190
**8.** The trustees were not paid or reimbursed for expenses during the year.
## **9.Current Assets**
|Barclays Bank 63018512
Barclays Bank 50885584
Barclays Bank 50044229
Lloyds Bank 36403663|2,752
11,364
16,116
18,000|
|---|---|
||48,232|
## **Notes forming part of the financial statements for 3rd July 2023 - 5th April 2024 continued**
|**10. Creditors - amounts falling due within one year**
Accountancy Fees
Other Creditors
**Creditors - amounts falling due after one year**
Mortgage
**11. Tangible fixed assets**
Cost:
At 3 July 2023
Additions
Disposals
At 5 Aril 2024
Depreciation
At 3 July 2023
Charge for year
Disposals
At 5 Aril 2024
**Net Book value**
At 5 Aril 2024
At 3 July 2023
**12. Unrestricted funds of the charity**
Brought forward @ 3 July 2023
Prior year adjustment
Movement in funds for the year
Balance at 05 April 2024
**13. Analysis of net assets between funds**
Tangible Fixed assets
Net Current assets
Current & long term liabilities|**Computer**|**2024**
**£**
1,100
-
1,100
150,000
**Funitures &**
**Fixtures**
**Building**
**Total**|
|---|---|---|
||**£**
845
-|**£**
**£**
**£**
1,660
2,505
385,000
385,000
-|
||845
211
-|1,660
385,000
387,505
-
415
7,857
8,483
-
-
-|
||211
634|415
7,857
8,483
1,245
377,143
379,022|
||845|1,660
2,505|
||**05/04/2024**
247,727
-
28,427
276,154
**General**
**Restricted**
**Total**
379,022
-
**379,022**
42,787
5,445
**48,232**
(151,100)
-
**(151,100)**
270,709
5,445
**276,154**||