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REGISTERED COMPANY NUMBER: 07308725 (England and Wales)
REGISTERED CHARITY NUMBER: 1139291














Report of the Trustees and

Audited Financial Statements for the Year Ended 30 June 2023

for

KHARIS MINISTRIES
(A COMPANY LIMITED BY GUARANTEE)

KHARIS MINISTRIES

Contents of the Financial Statements
for the Year Ended 30 June 2023










Page

Reference and Administrative Details 1

Report of the Trustees 2 to 4

Report of the Independent Auditors 5 to 8

Statement of Financial Activities 9

Balance Sheet 10

Cash Flow Statement 11

Notes to the Cash Flow Statement 12

Notes to the Financial Statements 13 to 19

KHARIS MINISTRIES

Reference and Administrative Details
for the Year Ended 30 June 2023



TRUSTEES Mr I Gogo (resigned 7.12.23)
Mrs P Downes
Mr T D Owusu-Lane
Miss N A A Mensah
Mr J Dumson-Kofhan


REGISTERED OFFICE 2a Orchard Road
Belvedere
Kent
DA17 5BP


REGISTERED COMPANY
NUMBER
07308725 (England and Wales)


REGISTERED CHARITY
NUMBER
1139291


SENIOR STATUTORY
AUDITOR
Muhammad Imran Ashraf


INDEPENDENT AUDITORS Sigma Chartered Certified
Accountants &
Registered Auditors
Kelvin House
Kelvin Way
Crawley
West Sussex
R10 9WE


ACCOUNTANTS Richard Samson Chartered Accountant
21 Coldharbour Lane
London SE5 9NR

KHARIS MINISTRIES (REGISTERED NUMBER: 07308725)

Report of the Trustees
for the Year Ended 30 June 2023



The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30 June 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 Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES
Objectives and aims
The objects of the charity are to advance the Christian faith in accordance with the teachings of the Bible and to further the gospel of the Lord Jesus Christ by any and all means possible; and the relief of poverty, sickness and distress primarily but not exclusively in Africa by the provision of food, clothes and shelter and the relief of persons who are victims of natural disasters or war.

Significant activities
Activities which have been proven to further the objectives include preaching the Word of God through regular Wednesday, Thursday and Sunday church meetings and Friday community based meetings held at the homes of members of the church congregation.

The charity has continued to be actively engaged in providing wholistic support to many disadvantaged individuals from all walks of life. This support is provided in many different forms including fellowship, worship, education, training and practical application of Christian principles.

The charity has introduced new methods of enabling members of the church congregation to practice the belief that all activities of their lives must be guided and directed aright by the Word of God, which is the Bible.

The charity provides an effective means through which people can seek God and lead lives based on sound Christian doctrine.

STRATEGIC REPORT
Financial position
The trustees are pleased with the financial position of the charity at the balance sheet date.

Principal funding sources
The charity is maintained and operated by means of contributions from members of the congregation, private individuals, organisations or associations that share the objectives and aspirations of the charity and from revenues derived from its assets or business. All donations and contributions are non-refundable and shall be disbursed as the trustees see fit.

Investment policy and objectives
The trustees are of the opinion that the performance of the charity from a financial standpoint is in line with their expectations and plans for the charity.

The trustees are actively engaged in seeking to acquire land and buildings to serve as a permanent Church headquarters. A permanent home for the Church will enable the continued successful operation and growth of the Church.


KHARIS MINISTRIES (REGISTERED NUMBER: 07308725)

Report of the Trustees
for the Year Ended 30 June 2023


STRATEGIC REPORT
Financial review
Reserves policy
The charity does not currently analyse its funds into different classes or categories. All the funds are maintained in a single general fund.

Going concern
The fellowship, worship, education, training and practical application of Christian principles provide real support in the lives of Church members as is evidenced by their willingness to continue to support this work by way of generous donations to Kharis Ministries.

Future plans
The trustees plan to grow the membership of the Church and ultimately promote, develop and support effective means for people to seek God and lead lives based on sound Christian doctrine around the world as part of a trusted global community.

STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The governing document of the charity is the Memorandum and Articles of Association of the company, limited by guarantee 'Kharis Ministries'.

Organisational structure
The charity is managed and controlled by the trustees. Currently all trustees are also directors of the company limited by guarantee.

Trustees meet regularly to make management and policy decisions.

Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. The trustees have recently undertaken a risk review and are currently working closely with the accountants to ensure that the charity is well run and managed. The trustees are aware that systems and controls require updating and are pleased with the planned improvement to the organisation and management of the charity.

STATEMENT OF TRUSTEES' RESPONSIBILITIES
The trustees (who are also the directors of Kharis Ministries for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".


KHARIS MINISTRIES (REGISTERED NUMBER: 07308725)

Report of the Trustees
for the Year Ended 30 June 2023


STATEMENT OF TRUSTEES' RESPONSIBILITIES - continued
Company law requires the trustees to prepare 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. In preparing those financial statements, the trustees are required to

-select suitable accounting policies and then apply them consistently;
-observe the methods and principles in the Charity SORP;
-make judgements and estimates that are reasonable and prudent;
-state whether applicable 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 inappropriate to presume that the charitable company will continue in business.

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to 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.

In so far as the trustees are aware:

-there is no relevant audit information of which the charitable company's auditors are unaware; and
-the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.

AUDITORS
The auditors, Sigma Chartered Certified, will be proposed for re-appointment at the forthcoming Annual General Meeting.

Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on 28 March 2024 and signed on the board's behalf by:





Mrs P Downes - Trustee

Report of the Independent Auditors to the Members of
Kharis Ministries


Opinion
We have audited the financial statements of Kharis Ministries (the 'charitable company') for the year ended 30 June 2023 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In our opinion the financial statements:
-give a true and fair view of the state of the charitable company's affairs as at 30 June 2023 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information
The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Report of the Independent Auditors to the Members of
Kharis Ministries


Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Report of the Trustees has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of trustees' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of trustees
As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
Kharis Ministries


Our responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We obtained an understanding of the legal and regulatory frameworks that are applicable to the charity and
determined that the most significant are those that relate to:

- Companies Act 2006;
- Accounting and Reporting by Charities: Statement of Recommended Practice;
- Financial Reporting Standard 102;
- Data protection laws (including UK General Data Protection Regulation (GDPR));
- Fundraising regulations for charities, and
- Bribery and corruption practices.

Based on the results of our risk assessment we designed our audit procedures to identify non-compliance
with such laws and regulations identified above.

We assessed the risks of material misstatement in respect of irregularities, including fraud by enquiry of:

- Management;
- Those charged with governance, and
- Others responsible for risk or compliance procedures.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Report of the Independent Auditors to the Members of
Kharis Ministries


Use of our report
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Muhammad Imran Ashraf (Senior Statutory Auditor)
for and on behalf of Sigma Chartered Certified
Accountants &
Registered Auditors
Kelvin House
Kelvin Way
Crawley
West Sussex
R10 9WE

29 March 2024

KHARIS MINISTRIES

Statement of Financial Activities
for the Year Ended 30 June 2023

Period
1.6.21
Year ended to
30.6.23 30.6.22
Unrestricted Total
fund funds
Notes £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 2 2,137,148 2,195,798

Investment income 3 6,211 1,187
Total 2,143,359 2,196,985

EXPENDITURE ON
Charitable activities 4
Ministry and evangelism 1,060,951 707,023
Alleviation of poverty and distress 6,200 1,530
Running costs 145,120 127,976
Ashburnham Christian Trust 8,580 43,000
Salvation Army 7,651 12,501
Trinity Baptist Church - 10,000
Active Community 7,879 3,990
Healing Jesus Crusade 52,000 2,000
Full Circle Docklands - 70
Ampah Kwofi World Missions 27,000 -
Total 1,315,381 908,090

NET INCOME 827,978 1,288,895


RECONCILIATION OF FUNDS
Total funds brought forward 2,723,540 1,434,645

TOTAL FUNDS CARRIED FORWARD 3,551,518 2,723,540

KHARIS MINISTRIES (REGISTERED NUMBER: 07308725)

Balance Sheet
30 June 2023

2023 2022
Unrestricted Total
fund funds
Notes £    £   
FIXED ASSETS
Tangible assets 10 345,840 215,630

CURRENT ASSETS
Debtors 11 361,556 134,846
Cash at bank and in hand 2,968,688 2,445,327
3,330,244 2,580,173

CREDITORS
Amounts falling due within one year 12 (124,566 ) (72,263 )

NET CURRENT ASSETS 3,205,678 2,507,910

TOTAL ASSETS LESS CURRENT
LIABILITIES

3,551,518

2,723,540

NET ASSETS 3,551,518 2,723,540
FUNDS 13
Unrestricted funds 3,551,518 2,723,540
TOTAL FUNDS 3,551,518 2,723,540


The financial statements were approved by the Board of Trustees and authorised for issue on 28 March 2024 and were signed on its behalf by:





Mrs P Downes - Trustee

KHARIS MINISTRIES

Cash Flow Statement
for the Year Ended 30 June 2023

Period
1.6.21
Year ended to
30.6.23 30.6.22
Notes £    £   

Cash flows from operating activities
Cash generated from operations 1 762,640 1,275,267
Tax paid - (251,269 )
Net cash provided by operating activities 762,640 1,023,998

Cash flows from investing activities
Purchase of tangible fixed assets (245,490 ) (83,167 )
Interest received 6,211 1,187
Net cash used in investing activities (239,279 ) (81,980 )

Change in cash and cash equivalents in
the reporting period

523,361

942,018
Cash and cash equivalents at the
beginning of the reporting period

2,445,327

1,503,309
Cash and cash equivalents at the end of
the reporting period

2,968,688

2,445,327

KHARIS MINISTRIES

Notes to the Cash Flow Statement
for the Year Ended 30 June 2023


1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING
ACTIVITIES
Period
1.6.21
Year ended to
30.6.23 30.6.22
£    £   
Net income for the reporting period (as per the Statement of
Financial Activities)

827,978

1,288,895
Adjustments for:
Depreciation charges 115,280 71,877
Interest received (6,211 ) (1,187 )
Increase in debtors (226,710 ) (127,746 )
Increase in creditors 52,303 43,428
Net cash provided by operations 762,640 1,275,267


2. ANALYSIS OF CHANGES IN NET FUNDS

At 1.7.22 Cash flow At 30.6.23
£    £    £   
Net cash
Cash at bank and in hand 2,445,327 523,361 2,968,688
2,445,327 523,361 2,968,688
Total 2,445,327 523,361 2,968,688

KHARIS MINISTRIES

Notes to the Financial Statements
for the Year Ended 30 June 2023


1. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared 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' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

Taxation
The charity is exempt from corporation tax on its charitable activities.

Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

KHARIS MINISTRIES

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023


2. DONATIONS AND LEGACIES
Period
1.6.21
Year ended to
30.6.23 30.6.22
£    £   
Donations 2,137,148 2,195,798

3. INVESTMENT INCOME
Period
1.6.21
Year ended to
30.6.23 30.6.22
£    £   
Deposit account interest 6,211 1,187

4. CHARITABLE ACTIVITIES COSTS
Grant
funding of
activities Support
Direct (see note costs (see
Costs 5) note 6) Totals
£    £    £    £   
Ministry and evangelism 741,452 - 319,499 1,060,951
Alleviation of poverty and distress - 6,200 - 6,200
Running costs - - 145,120 145,120
Ashburnham Christian Trust 8,580 - - 8,580
Salvation Army 7,651 - - 7,651
Active Community 7,879 - - 7,879
Healing Jesus Crusade 52,000 - - 52,000
Ampah Kwofi World Missions 27,000 - - 27,000
844,562 6,200 464,619 1,315,381


KHARIS MINISTRIES

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023


5. GRANTS PAYABLE
Period
1.6.21
Year ended to
30.6.23 30.6.22
£    £   
Alleviation of poverty and distress 6,200 1,530


6. SUPPORT COSTS
Management Finance Totals
£    £    £   
Ministry and evangelism 319,499 - 319,499
Running costs 115,280 29,840 145,120
434,779 29,840 464,619

7. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

Period
1.6.21
Year ended to
30.6.23 30.6.22
£    £   
Depreciation - owned assets 115,280 71,877
Hire of plant and machinery - 3,840

8. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 30 June 2023 nor for the period ended 30 June 2022.


Trustees' expenses

There were no trustees' expenses paid for the year ended 30 June 2023 nor for the period ended 30 June 2022.



KHARIS MINISTRIES

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023


9. STAFF COSTS
Period
1.6.21
Year ended to
30.6.23 30.6.22
£    £   
Wages and salaries 203,448 198,883
Social security costs 18,869 21,937
Other pension costs 8,404 8,945
230,721 229,765

The average monthly number of employees during the year was as follows:

Period
1.6.21
Year ended to
30.6.23 30.6.22
Ministerial 2 2
Ministerial support 3 3
5 5

The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:

Period
1.6.21
Year ended to
30.6.23 30.6.22
£90,001 - £100,000 1 -


KHARIS MINISTRIES

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023


10. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 July 2022 784,040 18,326 - 802,366
Additions 199,488 6,402 39,600 245,490
At 30 June 2023 983,528 24,728 39,600 1,047,856
DEPRECIATION
At 1 July 2022 575,592 11,144 - 586,736
Charge for year 101,984 3,396 9,900 115,280
At 30 June 2023 677,576 14,540 9,900 702,016
NET BOOK VALUE
At 30 June 2023 305,952 10,188 29,700 345,840
At 30 June 2022 208,448 7,182 - 215,630

11. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Loan - 3,600
Prepayments - 1,000
Soldo 1,500 1,500
1,500 6,100
Amounts falling due after more than one year:
Other debtors 360,056 128,746

Aggregate amounts 361,556 134,846


KHARIS MINISTRIES

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023


12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Social security and other taxes 45,383 (3,010 )
Other creditors - 21,202
Pension 2,052 14,409
Accrued expenses 77,131 39,662
124,566 72,263

13. MOVEMENT IN FUNDS
Net
movement At
At 1.7.22 in funds 30.6.23
£    £    £   
Unrestricted funds
General fund 2,723,540 827,978 3,551,518

TOTAL FUNDS 2,723,540 827,978 3,551,518

Net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 2,143,359 (1,315,381 ) 827,978

TOTAL FUNDS 2,143,359 (1,315,381 ) 827,978


Comparatives for movement in funds

Net
movement At
At 1.6.21 in funds 30.6.22
£    £    £   
Unrestricted funds
General fund 1,434,645 1,288,895 2,723,540

TOTAL FUNDS 1,434,645 1,288,895 2,723,540

KHARIS MINISTRIES

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023


13. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 2,196,985 (908,090 ) 1,288,895

TOTAL FUNDS 2,196,985 (908,090 ) 1,288,895

14. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 30 June 2023.