Eagle Flight International Gospel Centre (EFIGC) Financial Statements for the Year ended 31/12/2023. Charity No SC044667
CONTENTS PAGE Legal and administrative information. Mana8ement Report of the Chairperson Independent Examinerfs Report to the Mana8ement Statement of Financial Activiti es Balance Sheet Notes formin8 part of the financlal statements
EFIGC Legal and administrative information MANAGEMENT COMMITfEE INDEPEPIDEPIT EYp%l/l:.IiER 16/1 Wardi eburn street West Edinburgh. EH5 IED BANKERS
. EFIGC Management Report for the Year 2023 I REPORT OF Management Committee The Management Committee, who for the purposes of charity law, a re trustees of EFIGC, have pleasure in presenting thei r report along with the financial statements for th e yea r ended 3 1 December 2023. The financial statements have been prepa red in accordance with the accounting policies set out therein and comply with the charity's constitution, appli cable law and the Statement of Recommended Practice 'Accounting and Reporting by Charities" as revi sed in 2005. 1.1 Structure, Govefnance and Management This Scottish cha rity number SC044667 is managed by nominated Trustees. After three years an IndividLJal may request to sta nd down and not be eligible for re-election or co-option for a period of a yea r after which he/she may be deemed fit to be re-elected. The ind uction process for any newly appointed member of the Management Committee comprises a meeting with the Chairperson, where the objectives and responsibilities of being a Trustee are discussed and the new mem ber is presented with a copy of the Charity's constitution. All Trustees are familiar with the practical work of the Charity, having pa rticipated in seminars and supported the activities of EFIGC. 1.2 Risk Mana8ement The Management Committee have assessed the major risks to which the Charity is exposed, those related to the operations and finances of the Charity and aresatisfiedthat systems are in place to mitigate the exposure to major risks. 1.3 Organisational Structure During 2021 EFIGC comprised of three131 Trustees. The Trustees normally meet quarterly and sometimes the Chairperson calls for a m eeting when there are urgent matters to deal with. 1.4 Objectives and Activities EFIGC is established for the promotion of mutual understandin& love, peace a nd unity among men. Moreover, to encourage the study, understa nding and practi cal application of bible truth i n everyday life. Work in a holistic approach in developi ng programmes to empower communities and other vulnerable 8roups. Operate such facilities a nd activities as are deemed necessary by the Mana8ement Committee to further its objettives, Co-operate with any other body, whether statutory or volunta ry, having objects consistent with the Project. EFIGC ca rries out its activities in linewiththe objectives of the Charity which is aimed at supporting individuals and communities in areas of need. The Charity is guided by the needs of the communities for its partners. In thi s connection, the pa rtners are involved in needs assessment, project des18n and the implementation process of programmes. 1.5 Donation5 received and how spent Since the Primary objertive of this charity is evangelism a nd practicing charitabl e ed ucational programmes for the wellbeing of individuals and communities in the UK an d worldwide. We a re pleased to note the following.. 1.6 Achievements and Performance Despite having limited resources and EFIGC management worked well with the network organisations
- 7 Financial Review The Charity is reli3nt on incorne frofT7 don3tions and income from fundraising event5. The results for the year and the Cha rity's financial position at the end of the year are shown in th e 3ttached financial statement5. 1.8 Responsibilities of Management Committee The Ch3rities and Trustee Investment Act (Scotlandl 2C(15 and The Charities Accounts IScotl3ndl Regulations 20(6 require the trustees to prepare financial statements for each financial year that give a true and fair view of the charity's financial activities during the year and of its financial position at the end of the year. In preparing financial statem ents, giving a true and fair wew. the trustees are required to: Select Sultable accounting polici es and then apply them consistently: Make judgments and estimates that are reasonable and prudent,. state whether applicable accounting standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements- Prepare the financial statements on the going concern ba515 unle55 It is inappropriate to presume that the charity wll continue in operation. The Trustees are responsible for keeping proper accounting records which disclose with rea 50nable accuracy at any time the financial position of the Charityand whichenablethemto ensure that the financial statements comply with the legislation noted above. They are also responsible for 5afeguardin8 the a55ets of the Charity and hen for takinB reasonable steps for the prevention ané detection of fraud and other irregularities. 2.0 AUDIT The Management Committee voted against having EFIGC'S booksaudited nowaswedo not raise enough monies to justify an audit. instead Mr Babatope Olusola Osuolale was appointed as the Independent Examiner. The Future of Eagle's Flight International Gospel Centre Trustees took a decison to reduce its employees by 50% due to its financial po%tion. It has also been able to outline a lot of programmes this year to help the community such as- adapt and th rive, mainly because of the prevalent disease to better and shape the lives of the people in the community, our prison visitations and praying for them ha5 been re4e5i8ned. Organisin8 extra classes on Saturdays for the youth around mathematics and some of the science subjects for free of charge are still holdin& and other charity endeavours. Moreover, the charity helped raise money to support Wavedey Care. and another charitable organisation in Scotland as we do every year in creating awareness of HIV virus and Hepatitis 8. We are also looking forward to employi ng a few other people in 2024 to help function best in other areas that much attention is needed in the organisation as we grow also in other nations. We have the hope that our charity has become benefitial to the community and Great Britain at large and this wll not end here but pledge to do more in future to help better the lives of the people in the community and beyond both rnorally and spirituallv. Chairperson
EFIGC Independent Examlnerfs Report to the Management of EFIGC I report on the accounts of th e charity for the year ended 3 1 December 2023 which a re set out on pages 7t0 9 Respective Responsibilities of Trustees and examlner The Cha rity's Tru51ees are responsible for the preparation of the 3ccounts in accorda nce with the term5 of the Chariti es and trustee's investment Scotland Act 2005 and the Charities Account (Scotland I re8ulations 2Q)6. The Charity trustees consider that the audit requi rement of the Regulation 10( Illal to Icl of the Accounts Regulations does not apply. It is my respon sibility to examine the accounts as requi red under sertion 44111 Icl of Act and to state whether matters have come to my attention. Basis of Independent Exarninerfs Statement My examination i s carried out in accordance with the Regulation 11 of the Charities Account {Scotlandl Regulation 2((J6. An examination includes a rewew of the accounting records kept bv the charity and a comparison of the account presented with those records. These include consideration of the unusual items or disclosures in the accounts and seek explanation from the trustees on such matters. The procedures taken do not provide all the evidence that would be provided by an audit and consequently I do not express an audit opinion on the view 8iven by the accounts. Independent examiner's statement During my examination no matter has come to my attention: 11 Which gives me reasonable cause to believe that in any material respect the requirement: To keep accounting records in accordance th section 44 111 la)of the Act and Re8ulation 4 of the 2C06 Accounts regulations: and To prepare account which accord with the 3ccounting records and comply wth regulation 8 of the 2CQ6 Account Re8ulations, have not been met.. or 21 To which. in my opinion, attention should be drawn to in order to enable a proper understandingof theaccountsto be reached.
EFIGC- Statement of Financlal Activltles For the year ended 315t December 2023 Unrestrlcted fund5 Notes 2023 2022 Incoming resources Incoming resourcesfrom generotedfunds Vol untary income - donation s Charitable & Fundraisingactivities Restricted Grants Govt bounce back Loan/Bank Interest Gift Aid/Membership fees received Total 5ncomlng resources Resources expended Stationery Cost of Fund Raising A Transportation Charitabl e artivitie5 Electricity Accountancy fees Repai rs H311 hirelRent Telephone/Broadband/Website Salaries Home Office applications/HRMC TaxlNat InslDVLA Insu rance Legal fee/Bank charges/loan refund Office Rent Assets Total resources expended Net movement In funds Balance5 brought forwa rd at 01$1 Jan 202312022 8alances carrled fonvard at Ol" Jan 202412023 20379 30255 32781 5414 131 141 9549 60183 17819 56014 543 4225 7743 4273 250 3700 14 8255 151 950 4539 600 360 169(X) 282 19309 2522 18 2215 161 175 1995 li 1972 6000 106C() 60351 11681 1691 1523 6400 60825 148111 6502 1691 All the activities of the EFIGC- relate to continuing operations. The notes on page 9 form pa rt of these financial statements
EFIGC Balance Sheet as at 31st DLxember 2023 Notes Total 2023 Total 2022 Fixed Assets Tangible Assets 14558 Current Assets Debtors Cash at Bank and in Hand 1523 1691 Current Uabllltles Crediiors.. Govt Bounce back Loan Net Current Assets/UabllStle5 1523 1691 Total Assets a+d 20392 16249 Represented By.. Surplus/lDeilcltl for the year to 31" December 2020 20392 16249 Approved by the Management Committee on 0110612024 and signed on their behalf bv..
EFIGC- Notes to the Accounts For the year ended 31. December 2023 l. Accounting policies al Basls of accounting The financial statements have been prepared under the historical cost convention and a re in 3ccord3nce with applicable Accounting Standards in the United Kingdom, the Charities Accounts (Scollandl regulations 2006 and Accountin8 and Reporting by Charities: Statement of Recommended Practice1SORPI issued in March 21x15. bl Incoming resources All incoming resources are recogni sed once the charity has entitlement to the resources, it 15 certain that the resource will be received. and the monetary value of the incoming resou rces can be measured th sufficient reliability. cl Resources expended and Irrecoverable VAT Liabilitie5 are recognised as resources expended as soon as there is a le831 or constructive obli8ation committing the charity to the expenditure. All expendilure is accounted for on an accruals basis and has been tlassified under headings that aggregate all costs related to the cate80ry. Irrecoverable VAT i s charged against the category of the resources expended for which it was incurred. EFIGC is not 'stered for VAT. d) Depreclatlon This is char8e at 25Yc yearly on the reduced balance of assets. el Allocation of overhead and support costs Overhead and support costs (lighting, rent. gas and telephone) have been allocated directly to costs of fund rai sing and charitable activities. 2. Donation5 £24477 3. Fundraisin8 activitie5 £26157 4. Other income (Gift aid) £9549 5. Cha ritable activities lexpl £4273 6. Sala rie5 £17500 7. Assets at 1st Jan 2023 £14558 Du rin8 the year £io&Jo £25158 £6290 Depreciation 25% Value at 3151 Dec 2024 £18869 Approved by the Management Committee on 0110612024 and signed on their behalf bv: Chairperson