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2023-07-31-accounts

Company No: NI646998 Charity No: NIC 107193

Watchmen Fellowship Centre

A Company Limited by Guarantee Not Having Share Capital

Financial Statements

For the Year Ended 31/07/23

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Watchmen Fellowship Centre

Information

Secretary Esther Ogunleye
Director Omotoke Ojeniyi
Address 274 Newtownards Road
Belfast
BT4 1HE
Accountants Insight Business Services
53 Bernice Road
Newtownabbey
BT36 4QZ
Bankers Barclays Bank

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Watchmen Fellowship Centre

Page
Trustees' Report 4
Independent Examiner's Report 6
Statement of Financial Activities 7
Balance Sheet 8
Trustees Statement 9
Notes to the Financial Statements 10-11

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Watchmen Fellowship Centre

Directors' Report

For the Period Ended 31/07/23

The Directors present their report and financial statements for the period ended 31/07/23

Board of Directors

The directors who served during the period are as stated below:

Secretary Esther Ogunleye Director Omotoke Ojeniyi

Structure, Governance and Management

The organisation is a charitable company limited by guarantee, incorporated 2/7/2017. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association.

Board of Trustees

The management committee are also the charity trustees for the purposes of charity law All trustees give their time voluntarily and receive no benefits from the charity.

Aims and Objectives

The aim of the charity is the advancement of religion in Northern Ireland, in line with the aims and purposes set out in its constitution.

Statement of Responsibilities

The Board of Directors is responsible for preparing their report and the financial statements in accordance with appicable law and UK Accounting Standards. Company law requires the Directors to pepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period.

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Watchmen Fellowship Centre

Directors' Report

For the Period Ended 31/07/23

A full management report for the year is included in the Annual Report.

Our financial performance has been sound. Total income has reduced but costs managed to ensure that there was a manageable deficit for the year. Overall there is positive net asset position with unrestricted reserves of more than 50% of income.

This report was approved by the Board on 29 April 2024 and signed on its behalf by

….. ………………………. Signed E Ogunleye Name …….E Ogunleye……………………..

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Watchmen Fellowship Centre

Independent Examiner's Report to the Members of Watchmen Fellowship Centre

I report on the accounts of the company for the year ended 31/07/23 , which are set out on pages 7 - 12.

Respective responsibilities of Directors and examiner

As the charity trustees (and also the directors of the company for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006. Having satisfied myself that the charity is not subject to audit under company law, and is eligible for independent examination, it is my responsibility to: - examine the accounts under section 65 of the Charities Act - follow the procedures laid down in the general Directions given by the - Charity Commission for Northern Ireland under section 65(9)(b) of the Charities Act

Basis of independent examiner’s report

I have examined your charity accounts as required under section 65 of the Charities Act and my examination was carried out in accordance with the general Directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the Charities Act. The examination included a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also included consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as charity trustees concerning any such matters.

My role is to state whether any material matters have come to my attention giving me cause to believe:

  1. That accounting records were not kept in accordance with section 386 of the Companies Act 2006

  2. That the accounts do not accord with those accounting records

  3. That the accounts do not comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the 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

  4. That there is further information needed for a proper understanding of the accounts to be reached.

Independent examiner’s statement

I have completed my examination and have no concerns in respect of the matters (1) to (4) listed above and, in connection with following the Directions of the Charity Commission for Northern Ireland, I have found no matters that require drawing to your attention.

Derek Browne ACMA Insight Business Services

53 Bernice Road Newtownabbey, BT36 4QZ

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Statement of Financial Activities for the period ended 31/07/23

Statement of Financial Activities
for the period ended 31/07/23		 Statement of Financial Activities
for the period ended 31/07/23		 Statement of Financial Activities
for the period ended 31/07/23
2023
Restricted Unrestricted
Total
Funds
Funds
Notes
£
£
£		 2022
£
Incoming Resources
Grant
2
Donations
Other Income
Bank Interest
Total Income
0.00
0.00
0.00
0.00
31,457.56
31,457.56
0.00
130.00
130.00
0.00
170.41
170.41
0.00
31,757.97
31,757.97		 27,450
22,644
6,831
0
56,926
Expenditure
Charitable Activities
Administrative Expenses
Total Expenditure
0.00
39,092.69
39,092.69
0.00
2,664.00
2,664.00
0.00
41,756.69
41,756.69		 34,917
480
35,397
Net Incoming/(Outgoing) Resources 0.00
-9,998.72
-9,998.72		 21,529
Net Movement of Funds in the Period
0
-9,999
17,748		 27,747

There are no recognised gains or losses other than the profit or loss for the above financial year. All activities relate to continuing operations

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Watchmen Fellowship Centre

Balance Sheet
As at 31/07/23		 Balance Sheet
As at 31/07/23		 Balance Sheet
As at 31/07/23
2023
£
£		 2022
£
Notes
Fixed Assets
Tangible & intangible assets
5,839.00 8,023
Current Assets
Debtors
5
Stock
Cash at bank and in hand
0.00
0.00
39,973.79		 0
0
48,025
39,973.79 48,025
Creditors: amounts falling due
within one year
6
480.00 480
Net Current Assets 39,493.79 47,545
Total Assets less current liabilities 45,332.79 55,568
Creditors: amounts falling due
after more than one year
Deferred grant income
0.00 0
Net Assets 45,332.79 55,568
Capital and Reserves
Restricted Income Funds
Restricted Capital Funds
Unrestricted funds
Total Funds
0.00
5,839.00
39,493.79
45,332.79		 0
8,023
47,545
55,568
The trustees' statements are shown on page 12
which forms part ofthis Balance Sheet

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Watchmen Fellowship Centre

Balance sheet (continued)

Directors' statement for the year ended 31/07/23

In approving these financial statements as Directors and trustees of the charity we hereby confirm that we acknowledge our responsibilities for:

1) ensuring that the company keeps proper accounting records

(2) preparing financial statements which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of its profit or loss for the year then ended.

The financial statements were approved by the Board of Directors on ....................

and signed on its behalf by .................................

Name .................................................

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Watchmen Fellowship Centre

Notes to the financial statements For the year ended 31/07/23

1. Accounting Policies

1.1 Accounting convention

The financial statements are prepared under the historical cost convention.

The accounts have been prepared in accordance with the Financial Reporting Standard applicable in the UK (FRS 102) (effective January 2015), and the requirements 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 (FRS 102) (effective January 2015) (Charities SORP 2015 (FRS 102)) and Companies Act 2006.

1.2 Incoming resources

Voluntary income is received by way of donations and gifts and is included in full in the Statement of Financial Activities when receivable. Gifts donated for resale are included as income when they are sold. Donated assets are included at the value to the charity where this can be quantified and a third party is bearing the cost. The value of services provided by volunteers has not been included.

Grants, including grants for the purchase of fixed assets, are recognised in full in the Statement of Financial Activities in the year in which they are receivable.

1.3 Resources Expended

Resources expended are recognised in the year in which they are incurred.

Management and administration costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.

1.4 Fixed Assets and Depreciation

Tangible fixed assets other than freehold land are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Equipment Fixtures & fittings Intangible assets

20% straight line 20% straight line 20% straight line

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Watchmen Fellowship Centre

Notes to the financial statements For the year ended 31/07/23

2. Grant Income Grant Income
2023 2022
£ £
Government and other Grants 0 27,450
3. Operating gain/(defcit)
2023 2022
Operating gain is stated after charging: £ £
Depreciation and other amounts written of 2,184 2,184

Accountant's
remuneration		 480 480
4. Employees
2023 2022
Number of employees
The average monthly number of employees
(excluding the Directors) during the year were: 1 1
5. Debtors
2023 2022
Trade Debtors 0 0
Other Debtors 0 0
6. Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 0 0
Other creditors 480 480
Other taxes and social security costs 0 0
Accruals and deferred income 0 0
480 480
7. Tangible Assets Website Fixtures & Equipment Total
Cost Fittings
At 1 August 2022 333 8,182 0 8,515
Additions 0 0 2,468 2,468
Disposals 0 0 0 0
At 31 July 2023 333 8,182 2,468 10,983
Depreciation
At 1 August 2022 108 2,358 494 2,960
Charge for the year 54 1,636 494 2,184
At 31 July 2023 162 3,994 988 5,144
Net Book Value 171 4,188 1,480 5,839

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Watchmen Fellowship Centre

The following does not form part of the statutory accounts.

Detailed Statement of Financial Activities

For the year ended 31/07/23

Detailed Statement of Financial Activities
For the year ended 31/07/23		 Detailed Statement of Financial Activities
For the year ended 31/07/23		 Detailed Statement of Financial Activities
For the year ended 31/07/23		 Detailed Statement of Financial Activities
For the year ended 31/07/23
2023 £
Total
27,443
4,015
0
130
170		 2022
£
Income
Unrestricted
Restricted
Donations
27,443
0
Gift Aid
4,015
0
Grants
0
0
Other Income
130
0
Bank Interest
170
0
22,644
4,792
27,450
2,034
5
Total Income 31,758
0		 31,758 56,925
Expenditure
Salaries
Pension
Rent & rates
Insurance
Light & Heat
Cleaning
Telephone
Printing & Stationery
Repairs & Maintenance
Overheads
Accountancy
Charitable Activities
Sundry expenses
Bank Charges
Depreciation
25,145
0
5,267
0
1,068
0
426
72
0
0
480
7,115
0
0
0
2,184
0		 25,145
0
5,267
0
1,068
0
426
72
0
0
480
7,115
0
0
2,184		 19,504
5,220
1,503
333
206
0
84
480
5,883
0
0
2,184
Total Expenditure 41,757
0		 41,757 35,397
Surplus/Defcit -9,999 21,528

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