Registered number
13154032
Victory International Church UK - The Overcomers
Filleted Accounts
31 January 2025
Victory International Church UK - The Overcomers
Registered number: 13154032
Balance Sheet
as at 31 January 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 3 14,188 7,180
Current assets
Cash at bank and in hand 70,063 62,618
Creditors: amounts falling due within one year 4 (1,200) (1,500)
Net current assets 68,863 61,118
Net assets 83,051 68,298
Capital and reserves
Profit and loss account 83,051 68,298
Shareholders' funds 83,051 68,298
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Sunday Oludare Arowojobe
Director
Approved by the board on 14 March 2025
Victory International Church UK - The Overcomers
Notes to the Accounts
for the year ended 31 January 2025
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 February 2024 10,527 2,240 12,767
Additions 9,945 - 9,945
At 31 January 2025 20,472 2,240 22,712
Depreciation
At 1 February 2024 4,243 1,344 5,587
Charge for the year 2,489 448 2,937
At 31 January 2025 6,732 1,792 8,524
Net book value
At 31 January 2025 13,740 448 14,188
At 31 January 2024 6,284 896 7,180
4 Creditors: amounts falling due within one year 2025 2024
£ £
Other creditors 1,200 1,500
6 Contingent Liaibility
There is a contingent liability of about £48,000 in respect of business rate and £44,000 electricity
bill which the charity is disputing. An appeal has been lodged and the outcome is being awaited.
5 Other information
Victory International Church UK - The Overcomers is a private company limited by guarantee and incorporated in England. Its registered office is:
77
Coburg Road
London
N22 6UB
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