Charity number: 513675
Good News Asian Church
Report of the Trustees and Unaudited Financial Statements
For the year ended 31 December 2023
Good News Asian Church Contents Page For the year ended 31 December 2023
| Report of the Trustees | 1 |
|---|---|
| Independent Examiner's Report to the Trustees | 2 |
| Statement of Financial Activities | 3 |
| Statement of Financial Position | 4 |
| Notes to the Financial Statements | 5 to 8 |
Good News Asian Church Report of the Trustees
For the year ended 31 December 2023
The Trustees have pleasure in presenting their report and the financial statements for the charity for the year ended 31 December 2023. The Trustees have adopted the provisions of 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 the Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Statement on public benefit
The trustees have considered the Charity Commision's guidance on public benefit, including the guidance 'public benefit: running a charity (PB2)'.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
Good News Asian Church is registered with the Charity commission (Registration Number 513675) and constituted by the deed of trust.
Organisational Structure
The Charity trustees are responsible for the general control and management of the charity. The trustees give their time freely and receive no remuneration or other financial benefits. The trustees meet together as a body quarterly and are responsible for all decision taken in relating to running the organisation facilities and the activities provided by the charity
REFERENCE AND ADMINISTRATIVE INFORMATION
Name of Charity Good News Asian Church Charity registration number 513675 Principal address 2 Grestone Avenue Birmingham West Midlands B20 1AX
Trustees
The trustees and officers serving during the year and since the year end were as follows:
Mr Amos Peter Mr Augustin Masih Mr Haziel Mal Mr Ramesh Kumar Mr Wilson Masih Bhatti Independent examiners Mibsons Limited 180 Birmingham Road West Bromwich West Midlands B70 6QG
Approved by the Board of Trustees and signed on its behalf by
............................................................................. 26 September 2024 Mr Amos Peter
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Good News Asian Church
Independent Examiners Report to the Trustees For the year ended 31 December 2023
I report to the trustees on my examination of the accounts of the charity for the year ended 31 December 2023.
Responsibilities and basis of report
As the charity trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of the charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiners statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or
-
the accounts do not accord with those records; or
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the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair view' which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Muhammad Shahid
FCCA Mibsons Limited 180 Birmingham Road West Bromwich West Midlands B70 6QG
26 September 2024
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Good News Asian Church Statement of Financial Activities For the year ended 31 December 2023
| Notes | Unrestricted | 2022 | |
|---|---|---|---|
| funds | |||
| £ | £ | ||
| Income and endowments from: | |||
| Donations and legacies | 2 | 75,633 | 27,107 |
| Investments | 3 | ||
| Bank interest receivable | 341 | 72 | |
| Other income | 4 | ||
| Other income | 533 | 494 | |
| Total | 76,507 | 27,673 | |
| Expenditure on: | |||
| Charitable activities | 5 | ||
| General Church Activity | (5,316) | (7,099) | |
| Total | (5,316) | (7,099) | |
| Net income | 71,191 | 20,574 | |
| Reconciliation of funds | |||
| Total funds brought forward | 392,268 | 371,694 | |
| Total funds carried forward | 463,459 | 392,268 |
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Good News Asian Church Statement of Financial Position As at 31 December 2023
| Notes Fixed assets Tangible assets 8 Current assets 9 Debtors Cash at bank and in hand Creditors: amounts falling due within one year 10 Net current assets Total assets less current liabilities Net assets The funds of the charity Unrestricted income funds 11 Total funds |
£ 2023 426,702 426,702 1,379 35,978 37,357 (600) 36,757 463,459 463,459 463,459 463,459 |
£ 2022 299,775 |
|---|---|---|
| 299,775 | ||
| 1,282 91,811 |
||
| 93,093 | ||
| (600) 92,493 |
||
| 392,268 | ||
| 392,268 | ||
| 392,268 | ||
| 392,268 |
The financial statements were approved and authorised for issue by the Board and signed on its behalf by:
Mr Amos Peter Trustee 26 September 2024
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Good News Asian Church Notes to the Financial Statements For the year ended 31 December 2023
1. Accounting Policies
Basis of accounting
The financial statements have been prepared under the historical cost convention, except for investments which are included at market value and the revaluation of certain fixed assets and in accordance with the Charities SORP (FRS 102) ‘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 (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), and the Charities Act 2011.
Good News Asian 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 note(s).
Going concern
The financial statements have been prepared on a going concern basis as the trustees consider no material uncertainties to exist. They have considered the level of funds held and the expected level of income and expenditure for 12 months from the date of authorizing these financial statements. The budgeted income and expenditure alongside the surplus reserves are sufficient for the charity to be able to continue as a going concern.
Statement of cash flows
The Trustees have taken advantage of the exemption in SORP FRS 102 from including a cash flow statement in the financial statements on the grounds that the charity is small.
Funds
Unrestricted funds 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.
Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes.
Restricted funds are those which are to be used as per specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund.
Incoming resources
All incoming resources are included in the statement of financial activities when the Charity is entitled to the income and the amount can be quantified with reasonable accuracy.
Resources expended
Liabilities are recognised as resources expended when there is a legal or constructive obligation committing the Charity to the expenditure.
2. Income from donations and legacies
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Unrestricted funds | ||
| Donations received | 68,718 | 27,107 |
| Gifts in kind | 6,915 | - |
| 75,633 | 27,107 |
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Good News Asian Church Notes to the Financial Statements Continued For the year ended 31 December 2023
3. Investment income
| Unrestricted funds Bank interest receivable ther income Unrestricted funds Other income osts of charitable activities by fund type Unrestricted funds General Church Activity Support costs nalysis of support costs General Church Activity Admin and Management Premises costs Governance costs |
2023 £ 341 341 2023 £ 533 533 2023 £ 1,306 4,010 5,316 2023 £ 1,711 1,699 600 4,010 |
2022 £ 72 |
|---|---|---|
| 72 | ||
| 2022 £ 494 |
||
| 494 | ||
| 2022 £ 2,624 4,475 |
||
| 7,099 | ||
| 2022 £ 1,616 2,259 600 |
||
| 4,475 |
4. Other income
5. Costs of charitable activities by fund type
6. Analysis of support costs
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Good News Asian Church Notes to the Financial Statements Continued For the year ended 31 December 2023
7. Net income/(expenditure) for the year
This is stated after charging/(crediting):
| Accountancy fees angible fixed assets Cost or valuation At 01 January 2023 Additions At 31 December 2023 Depreciation At 01 January 2023 At 31 December 2023 Net book values At 31 December 2023 At 31 December 2022 ebtors Amounts due within one year: Prepayments and accrued income Creditors: amounts falling due within one year Accruals and deferred income |
2023 £ 600 2023 £ 1,379 1,379 2023 £ 600 600 |
2022 £ 600 |
|---|---|---|
| Land and Buildings £ 321,108 126,927 |
||
| 448,035 | ||
| 21,333 | ||
| 21,333 | ||
| 426,702 | ||
| 299,775 | ||
| 2022 £ 1,282 |
||
| 1,282 | ||
| 2022 £ 600 |
||
| 600 |
8. Tangible fixed assets
9. Debtors
10. Creditors: amounts falling due within one year
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Good News Asian Church Notes to the Financial Statements Continued For the year ended 31 December 2023
11. Movement in funds
Unrestricted Funds
| Balance at | Incoming | Outgoing | Balance at | |
|---|---|---|---|---|
| 01/01/2023 | resources | resources | 31/12/2023 | |
| £ | £ | £ | £ | |
| General | ||||
| General | 392,268 | 76,507 | (5,316) | 463,459 |
| 392,268 | 76,507 | (5,316) | 463,459 | |
| Unrestricted Funds - Previous year | ||||
| Balance at | Incoming | Outgoing | Balance at | |
| 01/01/2022 | resources | resources | 31/12/2022 | |
| £ | £ | £ | £ | |
| General | ||||
| General | 371,694 | 27,673 | (7,099) | 392,268 |
| 371,694 | 27,673 | (7,099) | 392,268 |
12. Analysis of net assets between funds
| Tangible | Net current | Net Assets | |
|---|---|---|---|
| fixed assets | assets / | ||
| (liabilities) | |||
| £ | £ | £ | |
| Unrestricted funds | |||
| General | |||
| General | 426,702 | 36,757 | 463,459 |
| 426,702 | 36,757 | 463,459 | |
| Previous year | |||
| Tangible | Net current | Net Assets | |
| fixed assets | assets / | ||
| (liabilities) | |||
| £ | £ | £ | |
| Unrestricted funds | |||
| General | |||
| General | 299,775 | 92,493 | 392,268 |
| 299,775 | 92,493 | 392,268 |
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