WATERED OAK
The Watered Oak Ministry (WATERED OAK) Charity Registration No: 1206087 (England and Wales)
Trustees’ Reports and Statement of Financial Activities For the period from 06 December 2023 to 31 December 2024
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Contents
| Legal and Administrative Information | 3 |
|---|---|
| Trustees’ Report | 4 |
| Statement of trustees’ responsibilities | 5 |
| Statement of financial activities (SOFA) | 7 |
| Charity Balance Sheet | 8 |
| Notes to the charity accounts | 9 |
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Report and financial statements – For the period from 06 December 2023 to 31 December 2024 Legal and Administrative Information
Trustees
Mr O.Ekisola (Chairman) Mr K S Afolabi (Secretary) Mrs O R Oketikun
Registered address
10 GWBERT CLOSE RUMNEY CARDIFF CF3 1QY
Solicitors
None appointed during the year
Bankers Metro Bank
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Report of the Board of Trustees of the Watered Oak Ministry
The trustees present their annual report on the affairs of the charity, together with the statement of financial activities for the period from 06 December 2023 to 31 December 2024.
The accounts have been prepared to comply with the charity’s Articles of Association, the Companies Act 2006 and the Statement of Recommended Practice, “Accounting and Reporting by Charities” Issued in March 2005.
The Trustees meet regularly to discuss the objectives and day to day issues of the charity and are all provided with training in order to carry out their duties to the best of their abilities and in the best interest of the charity. All the trustees are volunteers and receive no income for the duties.
Objectives and activities
The Charity's objectives are to provide support related to religious faith in Cardiff, Newport, and surrounding areas through activities such as prayer meetings, raising awareness of beliefs and practices, observing religious festivals, and community outreach including peer support.
When planning activities, the charity priorities public benefit through:
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Organising conference and seminar for empowerment and transformation
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Development of mindset and leadership
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Community engagement.
There are several empowerment meetings that takes place weekly online and physical
Financial Review
The statement of Financial Activities on Page 7 shows a net gain of £39.53
The trustees consider the state of the charity’s affairs to be satisfactory.
The principal funding sources of the charity are donations from individuals. All expenditure in the year has been in the furtherance charity work and organising seminar / conference.
Statement of Trustees’ responsibilities
The Trustees of Watered Oak are responsible for preparing the Trustees’ Report and the accounts in accordance with applicable law and the Statement of Recommended Practices (SORP).
Charity law requires the trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity.
In preparing these accounts, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgments and estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards have been followed; and
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- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company 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 charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
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Responsibilities of Trustees
The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charity and which enable them to ensure that the financial statements comply with the Charities Act 2006. The Trustees’ responsibilities for preparing an annual report and financial statements in accordance with the applicable laws and United Kingdom Accounting Standards (i.e. Statement of Recommended Practice - SORP) are set out in the statement of Trustees’ responsibilities.
Statement of Financial Activities (including income and expenditure For the period ended 31/12/2024
| Notes Incoming Resources 1.2 Gift Aid 1.3 Other Income Total Incoming Resources Resources Expended 1.4 Total Resources Expended Net Movement in Funds |
Period 06/12/2023 – 31/12/2024 Comparative period (nil) £ £ 4,620 0 0 0 0 0 |
|---|---|
| 4,620 0 |
|
| 4,580 0 |
|
| 4,580 0 |
|
| 40 0 |
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Watered Oak
Charity balance sheet For the year ended 31/12/2024
| Notes Assets Fixed Assets Cash Total Liabilities Creditors: amounts falling due within more than one year Total Net Assets TOTAL CHARITY FUND |
Period 06/12/2023 – 31/12/2024 Comparative period (nil) £ £ 0 0 40 0 |
|---|---|
| 40 0 |
|
| - - |
|
| 40 0 |
|
| 40 0 |
The financial statements of The Watered Oak Ministry were approved by the Board of Trustees on__03/10/2025_____
Signed on behalf of the Board of Trustees
_Olusegun E_______
Olusegun Ekisola
Chairman / Trustee
Charity Registration No: 1206087
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Notes to the Charity accounts for the period from 06 December 2023 to 31 December 2024. Accounting Policies
1.1 Basis of Preparation
The accounts have been prepared in accordance with applicable accounting standards, the Statement of Recommended Practice, “Accounting and Reporting by Charities”, issued in March 2006.
1.2 Incoming Resources
Incoming resources are voluntary contributions from members and supporters to further the charity’s objectives
The charity does not hold any restricted funds.
1.3 Gift Aid
There was no reclaim of Gift Aid from HM Revenue & Customs (HMRC) during the period.
1.4 Resources Expended
Welfare: Are the resources that were used to care for the needy during outreaches and distribution of material
Conference: The annual empowerment programme organised by the Charity to strengthen people faith and growth.
Administration and Travel: These were the general running cost of the charity during the year.
| Conference and Seminar Welfare and outreach Total |
Period 06/12/2023 – 31/12/2024 Comparative period (nil) £ £ 1,739 0 2,841 0 |
|---|---|
| 4,580 0 |
1.6 Creditors
| Outstanding Creditor at 06/12/2023 Payments made in the year Outstanding Creditor at 31/12/2024 |
£ 0.00 0.00 |
|---|---|
| 0.00 |
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