DoGUSign Envelope ID". 006B0188-5AC>8682.8297_72CADC500E68 BVCCTrustees Annual Report March 2025 BENEFICIAL VERACIOUS CHRIST CHURCH Registered CharityNo 7204021 "Go Ye and spread Ihe 9ospel In Ihe p(v**r ol ih• Hoty Spifir 16..15, Acts 1..8 ANNUAL REPORT AND FINANCIAL STATEMENTS 31 March 2025 Registered Charity No 1204021
DoGUSign Envelope ID". 006B0188-5AC>8682.8297_72CADC500E68 BVCCTrustees Annual Report March 2025 Contents Reference and administrative details ofthe charity, ils trustees and advisers Trustees, report Independent Examiner's Report Statement of financial activities Balance sheet 10 Notes to the financialstatements Registered Charity No 1204021
DoGUSign Envelope ID". 006B0188-5AC>8682.8297_72CADC500E68 BVCCTrustees Annual Report March 2025 REFERENCE AND ADMINISTRATIVE DETAILS OFTHE CHARITY, ITSTRUSTEESAND ADVISERS FOR THE YEAR ENDED 31 MARCH 2025 Trustees Samuel Okonne, Chair Dorothy Boakye-Boateng, Trustee Rev Regina Osei-Gyamfi, Trustee Charity registered number 1204021 Registered office 3 Peak Hill Avenue, Sydenham, London, SE26 4LG Bankers National Westminster Bank PLC POBox4115 Hornchurch Essex RM125DA Barclays Bank PLC Piaistow 2 Leicestershire LE87 2BB Registered Charity No 1204021
DoGUSign Envelope ID". 006B0188-5AC>8682.8297_72CADC500E68 BVCCTrustees Annual Report March 2025 TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2025 The Trustees present their annu81 report together with the financial statements of the charity for the year from 1 April 2024 to 31 March 2025. The Trustees confirm that the Annual Report and financial statements of the CIO comply with the current statutory requirements, the requirements of the charity's governing document and the provisions of the Statement of Recommended Practice ISORPI, applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 20151 as amended by Update Bulletin 1 (effective 1 January 20151. Since the charity incorporated organisation qualifies as small under section 383, the strategic report required of medium and large companies under The Companies Act 2006 (Strategic Report and Director's Report) Regulations 2013 is not required. tiv A tiviti a. Policies and objectives Our principal objective is to grow the spirituality of the members by encouraging participation in discipling activities, bible study and in spiritual programmes as planned in the church's calendar of events and programmes. Our go81 remains to raise practical Christians who live by the Word of God, with their lives demonstrating the power and effectiveness of God's Word and ultimately, reflecting as disciples, the char8eter of our Lord jesus Christ in 811 their ways so they may constructively and positively participate in building the communities in which they live. We seek to realise these goals and objectives by pursuing a programme of sustained growth and expansion through intensifying our evangelism and outreach activities and establishing more branches across England and further afield in UK. Financial review a. Going concern After making appropriate enquiries, the trustees have 8 reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason. they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies. Registered Charity No 1204021
DoGUSign Envelope ID". 006B0188-5AC>8682.8297_72CADC500E68 BVCCTrustees Annual Report March 2025 b. Reserves policy The Trustees have an agreed policy for the use of reserves. Reserves 8re pl8nned to be held to fund one-off or non-recurring expenditure should there be suff icient funds to cover three months routine expenditure. c. Assets The Charity Transitioned from a Trust Deed Registration to a CIO registration and all assets have been duly transferred and registered in the new Charity no 1204021. The financial position of the Church is set out in these financial staternents which have been prepared on a going concern basis, as in the opinion of the Trustees, there are no material uncertainties about the ability of the Church to continue its 8Ctivities in the foreseeable future. Structure. governan¢e and management a. Constitution The charity is registered as a charity incorporeted organisation ICIOI and was set up by a constitution on 2010212023 and is a registered charity number 1204021. b. Method of appointment or election ofTrustees The management of the charity is the responsibility of the Trustees who are elected and co- opted under the terms of the Constitution. Plans for futur8 periods a. Future developments The charity is on course with its 5 years development plan. Our annual programmes are all geared tOW8rds ensuring that our objectives at each stage of our plan are re81ised. We intend to expand our reach to other communities here in the United Kingdom and Ghana (mission field) through enhanced medi2 broadcast. This would be a cost-effective expansion option and thus reduce our overheads. We acknowledge that a strong financial position is key to achieving our growth and expansion plans. Considering this, the Church would embark on a fundraising programme to boost our financial resources so we could deliver our ambitions. We will continue to use our Discipleship programme and other educational and training events to drive the spiritU81 growth and development of our members. Youth mobilis8tion and development will continue to assume centre stage in our strategy. We are developing plans to introduce reforms that would help mobilise the youth, galvanise their passion for and Commitment to the course of the gospel. Members, liability The members of the charity guarantee to contribute an amount not exceeding £1 to the assets of the charity in the event of winding up. Registered Charity No 1204021
DoGUSign Envelope ID". 006B0188-5AC>8682.8297_72CADC500E68 BVCCTrustees Annual Report March 2025 Trustees. responsibilities statement The Trustees 8re responsible for preparing the Trustees, report and the fin8nci81 statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the Trustees to prepare financial statements for each financial year. Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the situation of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing these fin8ncial statements, the Trustees are required to- select suitable accounting policies and then apply them consistently- observe the methods and principles in the Charities SORP- make judgments and accounting estimates that are reasonable and prudent- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements. prepare the financial statements on the going concern basis unless it is in8ppropri8te to presume that the charity will continue in operation. The Trustees 8re responsible for keeping 8dequate 8ccounting records that are sufficient to show and explain the charity's transactions and 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 Cornpanies Act 2006. 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. The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and di88emination of financial statements may differ from legislation in other jurisdictions. This report was approved by the Trustees, on . 10-05-26 .and signed on their behalf by: Docu8b3Mdty'. llnLUd PbPWE Sa é1'uie61,hair Registered Charity No 1204021
Independent Examiner's Report to the Trustees (hereinafter "trustees" of of Beneficial Veracious Christ Church Charity Registration Number: 1204021 This report on the financial statements of the charity for the year ended 31 March 2025, which are set out on pages 9 to 15, is in respect of an examination carried out in accordance with section 145 of the Charities Act 2011 {'the Act,). Respective responsibilities of the trustees and examiner As trustees of the charity, you are responsible for the preparation of the accounts. You consider that the audit requirements of section 145 of the Charities Act 2011 (the Act) do not apply and that an independent examination is needed. It is my responsibility to issue this report on those accounts in accordance with the terms of the Regulations and to.. examine the accounts under section 145 of the Act., follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of theAct; State whether particular matters have come to my attention. Basis of independent examiners report My examination was carried out in accordan with the general Directions given by the Charity Commission. An examination includes a review of the 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 and seeking explanations from you as members 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.. 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 comply with the accounting requirements of the Act and the Regulations have not been met., or
2 To which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Date.. 1010512026 Mr. J S Gweme MBA, FCCA 1A Sussex Drive Chatham, Kent ME5 ONJ
DoGUSign Envelope ID". 006B0188-5AC>8682.8297_72CADC500E68 BVCCTrustees Annual Report March 2025 STATEMENT OF FINANCIALACTIVITIES INCORPORATING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 Note. Income Unrestricted Funds 2025 Total Funds 2025 Donations and legacies 15,268 15,268 Other Income 5,729 5,729 Total income 20,997 20,997 Expenditure Unrestricted Funds 2025 Total Funds 2025 Charitable activities 98,189 98,189 Total expenditure Net movement in funds 177,1921 177,1921 Reconciliation of funds Unrestricted Funds 2025 Total Funds 2025 Total funds brought fonNard 750.558 750.558 Net movement in funds 177.1921 177.1921 Total funds carried forward 673,366 673,366 The Statement of financial activities includes all gains 8nd losses re¢ogni$ed in the ye8r. The notes to the accounts form part of these financial statements. Registered Charity No 1204021
DoGUSign Envelope ID". 006B0188-5AC>8682.8297_72CADC500E68 BVCCTrustees Annual Report March 2025 BALANCE SHEET AS AT 31 MARCH 2025 Fixed assets 4. Tangible assets Unrestricted Funds 2025 Total Funds 2025 681.669 681.669 Current assets Unrestricted Funds 2025 Total FunL1s 2025 Debtors 6,789 6,789 Cash at bank and in hand 24,681 24,681 Creditors.. 139,7741 139,7741 Non interest Bearing Loan Net current assets 18,3041 18,3041 Total assets less current Total net assets 673,386 673,366 Charityfunds Unrestricted Funds 2025 Total Funds 2025 Restricted funds Unrestricted funds 673,366 673,366 Total funds 673,366 673,366 The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by: Docu8b3Mdty'. Elder S Okonne (Chair Board of Tru 10-05-26 C382fAG2 . Rev Regina Osei-Gyamfi ITrusteel . 10-05-26 396CCE37D11C4 The notes to the accounts form part of these financial statements. Registered Charity No 1204021 io
DoGUSign Envelope ID". 006B0188-5AC>8682.8297_72CADC500E68 BVCCTrustees Annual Report March 2025 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 1. Aecountlng pollcles 1.1 Basis of preparation of financial statements The financial statements have been prepared in accordance with 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 IFRS1021 (effective 1 January 20151- (Charities SORP IFRS 10211, the Financi81 Reporting standard applicable in the UK and Republic of Ireland IFRS 1021 and the CompaniesAet 2006. Beneficial Veracious Christ Church meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy. 1.2 Income All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised, and notification has been made by the executorlsl to the Trust that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor's intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material. Donated services or facilities are recognised when the ch8rity has control over the item, any conditions associated with the donated item have been met. the receipt of economic benefit from the use of the charity of the item is probable and that economic benef it can be measured reliably. In accordance with the Charities SORP IFRS 1021, the general volunteer time of the Friends is not recognised and refer to the Trustees, repolt for more information about their contribution. On receipt, donated professional services and donated facilities are recognised based on the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open m8rket- a corresponding amount is then recognised in expenditure in the period of receipt. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Registered Charity No 1204021
DoGUSign Envelope ID". 006B0188-5AC>8682.8297_72CADC500E68 BVCCTrustees Annual Report March 2025 Income tax recoverable in relation to investment income is recognised 8t the time the investment income is receivable. 1.3 Expenditure Expenditure is recognised once there is a legal or Constructive obligation to transfer economic benef it to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each 8Ctivity. Direct costs attributable to a single activity is alloc8ted directly to that activity. Shared costs which contribute to more than one activity and support Costs which 8re not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated based on time spent, and depreciation charges allocated on the portion of the asset's use. Charitable activities and Governance costs are costs incurred on the charity's operations, including support costs and costs relating to the governance of the charity 8PPOrtioned to charitable activities. 1.4 Tangible fixed assets and depreciation Tangible fixed assets are carried at cost. net of depreciation and any provision for impairment. Depreciation is provided at rates calcul8ted to write off the cost of fixed assets, less their estimated residual value. over their expected useful lives on the following bases= Freehold property- 40/0 Straight line Off ice equipment- 2596 straight line Computer equipment- 25Vo Straight line 1.5 Interest receivable Interest on funds held on deposit is included when receivable and the amount can be rneasured reliably by the charity., this is normally upon notification of the interest paid or payable by the Bank. 1.6 Debtors Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount piepaid net of any trade discounts due. 1.7 Cash at Bankand in hand Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. Registered Charity No 1204021 12
DoGUSign Envelope ID". 006B0188-5AC>8682.8297_72CADC500E68 BVCCTrustees Annual Report March 2025 1.8 Liabilities and provisions Liabilities are recognised when there is an obligation at the balance sheet date because of a past event, it 18 probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services, it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is materi81, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised within interest payable and similar charges. 1.9 Financial instruments The charity only has financial assets and financial liabilities of a kind that quality as basi financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value apart from bank loans which are subsequently measured at 8mortised cost using the effective interest method. 1.10 Penslons The charity operates a defined contribution pension scheme, and the pension charge represents the amounts payable by the charity to the fund in respect of the year. 1.11 Fund a¢¢ounting General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. Registered Charity No 1204021 13
DoGUSign Envelope ID". 006B0188-5AC>8682.8297_72CADC500E68 BVCCTrustees Annual Report March 2025 2.Income from donations and Legacies Unrestricted Funds 2025 15,268 4.660 1,069 Total Funds 2025 15,268 4.660 1,069 Donations & Legacies GiftAid Other Income 3.Charitable activities costs Unrestricted Funds 2025 98.189 Total Funds 2025 98.189 Charitable activities CharitabLe Expenditure Amount 32,624 300 1.890 12,593 928 597 180 824 556 Depreciation Ghana Mission Musicians & Musical Accessories Premises Expenses Subscriptions Surveillance & Security cost Office Expenses Telephone & Web Costs Printing. Postage & Stationery Travel costs Legal & Professional Fees Wages and salaries Governance costs 3,894 150 42,602 1,050 The average number of people employed in 2025= No. Church staff No employee received remuneration amounting to more than £60,000120251: Nill. Registered Charity No 1204021 14
DoGUSign Envelope ID". 006B0188-5AC>8682.8297_72CADC500E68 BVCCTrustees Annual Report March 2025 4.TangibLe fixed assets Freehold property, Fixtures and fittings, Office equipment, Computer equipment Cost or valuation Freehold property 762.750 Fixtures & fittings 35,507 Off ice equipment 7.392 Computer equipment 1.067 Total At 1 April 2024 Additions At 31 March 2025 Depreciation 806,716 8,121 770,871 8,121 814,837 35,507 7,392 1,067 Freehold property 60,774 Fixtures & fittings 35,503 Office equipment 3,696 Computer equipment 571 Total At 1 April 2024 Charge for the year At 31 March 2025 Net book value 100,544 30,510 1,848 266 32,624 91,284 35,503 5,544 837 133,168 Freehold property 679,587 Fixtures & fittings Office equipment 1,848 Computer equipment 230 Total At 31 March 2025 At 31 March 2024 681,669 701,976 3,696 496 706,172 5.Debtors Unrestricted Funds 2025 6,789 Total Funds 2025 6,789 Other debtors 6.Creditors: Amounts falLing due within one year Unrestricted Funds 2025 Total Funds 2025 37,733 37,733 591 591 1,450 1,450 Other loans Other creditors Accruals and deferred income Total 139,7741 139,7741 Registered Charity No 1204021 15