Registered number: 09213121 | ||||||||
Charity number: 1161558 | ||||||||
UNAUDITED ACCOUNTS | ||||||||
FOR THE YEAR ENDED 30 SEPTEMBER 2023 | ||||||||
Prepared By: | ||||||||
Swan Accounting Services | ||||||||
Accounting & Business Consultancy | ||||||||
FFOF25A | ||||||||
CEME Innovation Centre | ||||||||
Rainham | ||||||||
RM13 8EU |
SOWERS MINISTRIES INTERNATIONAL | ||||||||
FINANCIAL STATEMENTS | ||||||||
FOR THE YEAR ENDED 30 SEPTEMBER 2023 | ||||||||
TRUSTEES | ||||||||
REGISTERED OFFICE | ||||||||
Essex | ||||||||
COMPANY NUMBER | ||||||||
CHARITY NUMBER | ||||||||
1161558 | ||||||||
ACCOUNTANTS | ||||||||
Swan Accounting Services | ||||||||
Accounting & Business Consultancy | ||||||||
FFOF25A | ||||||||
CEME Innovation Centre | ||||||||
Rainham | ||||||||
RM13 8EU |
SOWERS MINISTRIES INTERNATIONAL | ||||||||
ACCOUNTS | ||||||||
FOR THE YEAR ENDED 30 SEPTEMBER 2023 | ||||||||
CONTENTS | ||||||||
Page | ||||||||
Report of the Trustees | 3 | |||||||
Statement of Financial Activities | 4 | |||||||
Balance Sheet | 5 | |||||||
Notes to the Accounts | 6 to 9 | |||||||
Detailed Statement of Financial Activities | 8 | |||||||
SOWERS MINISTRIES INTERNATIONAL | ||||||||
The report was prepared in accordance with the special provisions within Part 15 of the Companies Act 2006. | ||||||||
TRUSTEES' REPORT | ||||||||
FOR THE YEAR ENDED 30 SEPTEMBER 2023 | ||||||||
The trustees present their report and accounts for the year ended | ||||||||
PRINCIPAL ACTIVITIES | ||||||||
The principal activity of the charity in the year under review was | ||||||||
STRUCTURE GOVERNANCE AND MANAGEMENT | ||||||||
The organization is a charitable company limited by guarantee, incorporated on 9 September 2014. The Memorandum of association establishes the objects and powers of the charitable company and is governed under its articles of Association. | ||||||||
The directors are responsible for the general control and management of the charity. The directors give their time freely and receive no remuneration or other financial benefits. The directors meet regularly and are responsible for taking decisions in relation to the smooth functioning of the charity. The directors have set up sub-committees to assist them oversee certain aspect of the charity's work. | ||||||||
The report was prepared in accordance with the special provisions within Part 15 of the Companies Act 2006. | ||||||||
This report was approved by the Board of Trustees on | ||||||||
Joceclyn Cheryl BOSSMAN | ||||||||
Trustee |
SOWERS MINISTRIES INTERNATIONAL | ||||||||
Statement of Financial Activities | ||||||||||
for the year ended30 September 2023 | ||||||||||
2023 | 2022 | |||||||||
Unrestricted funds | Restricted funds | Total | Total | |||||||
£ | £ | £ | £ | |||||||
Income | ||||||||||
Income from generated funds | ||||||||||
Donations and legacies | 42,924 | - | 42,924 | 21,354 | ||||||
Total Income and endowments | 42,924 | - | 42,924 | 21,354 | ||||||
Expenses | ||||||||||
Costs of generating funds | ||||||||||
Expenditure on Raised funds | - | - | - | 35,780 | ||||||
Expenditure on Charitable activities | 15,129 | - | 15,129 | 15,945 | ||||||
Total Expenses | 15,129 | - | 15,129 | 51,725 | ||||||
Net gains on investments | ||||||||||
Net Income | 27,795 | - | 27,795 | (30,371) | ||||||
Gains/(losses) on revaluation of fixed assests | ||||||||||
Net movement in funds: | ||||||||||
Net income for the year | 27,795 | - | 27,795 | (30,371) | ||||||
Total funds brought forward | 5,546 | - | 5,546 | 35,917 | ||||||
Net funds carried forward | 33,341 | - | 33,341 | 5,546 | ||||||
This statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities |
SOWERS MINISTRIES INTERNATIONAL | ||||||||
BALANCE SHEET AT 30 SEPTEMBER 2023 | ||||||||||
2023 | 2022 | |||||||||
Notes | £ | £ | ||||||||
CURRENT ASSETS | ||||||||||
Cash at bank and in hand | 39,758 | 5,546 | ||||||||
39,758 | 5,546 | |||||||||
CREDITORS: Amounts falling due within one year | 3 | 6,416 | - | |||||||
NET CURRENT ASSETS | 33,342 | 5,546 | ||||||||
TOTAL ASSETS LESS CURRENT LIABILITIES | 33,342 | 5,546 | ||||||||
CAPITAL AND RESERVES | ||||||||||
Unrestricted funds | 5 | |||||||||
General fund | 33,342 | 5,546 | ||||||||
33,342 | 5,546 | |||||||||
Approved by the board of trustees on | ||||||||||
............................. | ||||||||||
Trustee | ||||||||||
............................. | ||||||||||
Martin Akpor SOWAH | ||||||||||
Trustee | ||||||||||
SOWERS MINISTRIES INTERNATIONAL | ||||||||
NOTES TO THE ACCOUNTS | ||||||||||
FOR THE YEAR ENDED 30 SEPTEMBER 2023 | ||||||||||
1. ACCOUNTING POLICIES |
1a. Basis Of Accounting | ||||||||
The accounts have been prepared under the historical cost convention. | ||||||||
The accounts have been prepared in accordance with FRS102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities. |
1b. Incoming Resources | ||||||||
All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. |
1c. Resources Expended | ||||||||
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. |
1d. Allocation And Apportionment Of Costs | ||||||||
All costs relate to the single activity of the charitable company and are recognised accordingly. |
1e. 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. | ||||||||
Designated funds are funds set aside by the trustees out of unrestricted general funds for the specific future purposes or projects. |
2. EMPLOYEES | ||||||
2023 | 2022 | |||||
No. | No. | |||||
Average number of employees | - | |||||
SOWERS MINISTRIES INTERNATIONAL | ||||||||
3. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||||||
2023 | 2022 | |||||||
£ | £ | |||||||
Other creditors | 6,416 | - | ||||||
6,416 | - | |||||||
4. LIMITED BY GUARANTEE | ||||||||
The company is limited by guarantee and does not have a share capital. Each member gives a guarantee to contribute a sum not exceeding £, to the company should it be wound up. At 30 September 2023 there were members. | ||||||||
5. UNRESTRICTED FUNDS | ||||||||||
Brought forward | Incoming resources | Outgoing resources | Transfers | Carried forward | ||||||
£ | £ | £ | £ | £ | ||||||
General fund | 5,546 | 42,924 | (15,128) | - | 33,342 | |||||
5,546 | 42,924 | (15,128) | - | 33,342 | ||||||
6. RESTRICTED FUNDS | ||||||||||
Brought forward | Incoming resources | Outgoing resources | Transfers | Carried forward | ||||||
£ | £ | £ | £ | £ | ||||||
SOWERS MINISTRIES INTERNATIONAL | ||||||||
Incoming Resources | ||||||||
for the year ended30 September 2023 | ||||||||
2023 | 2022 | |||||||
£ | £ | |||||||
Incoming resources | ||||||||
Incoming resources from generated funds | ||||||||
42,924 | 21,354 | |||||||
42,924 | 21,354 | |||||||
SOWERS MINISTRIES INTERNATIONAL | ||||||||
Expenses | ||||||||
for the year ended30 September 2023 | ||||||||
2023 | 2022 | |||||||
£ | £ | |||||||
Expenses | ||||||||
Costs of generating funds | ||||||||
Fundraising Trading Costs | ||||||||
Church Event 2022 | - | 35,780 | ||||||
- | 35,780 | |||||||
- | 35,780 | |||||||
Charitable Activities | ||||||||
Insurance | 360 | 345 | ||||||
Rent | 4,582 | 7,069 | ||||||
Accountancy fees | 1,250 | 500 | ||||||
Professional fees | - | 150 | ||||||
Instrumentalist fees | 5,600 | 4,950 | ||||||
Refreshment and church Up keep | 643 | - | ||||||
Stationery & office supplies | 1,154 | 346 | ||||||
Telephone | 419 | 301 | ||||||
Global payment-Card charges | 965 | 1,131 | ||||||
Bank charges | 156 | - | ||||||
Interest on loans repayable within 5 years | - | 1,153 | ||||||
15,129 | 15,945 | |||||||
15,129 | 51,725 | |||||||