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|Legal and administrative|information|information||
|---|---|---|---|
|Report ofthe Trustees|||2-7|
|Report ofthe auditors|||8-11|
|Statement offinancial|activities||12|
|Balance sheet|||13|
|Notes to the financial statements|||14-18|
|Detailed Income and expenditure||accounts|19-20|
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|Trustees:|Deborah Adeshina||
|---|---|---|
||Oluwakayode
Adewumi||
||James Bamigboye||
||Edward Edumijeke||
||Richard Shoyoye||
||Tonye Eke||
|Registered once:|506 - 510Old Kent Road||
||Bermondsey||
||London||
||SE15BA||
|Charity number:|1004343||
|Auditors|Fairman Hams||
||Chartered Accountants|and Registered Auditors|
||1Landor Road||
||London||
||SW99RX||
|Bankers:|Barclays Bank Plc||
||HSBCBank Plc||
||Santander Bank Plc||
||Lloyds Bank Plc||
||Natwest Bank||
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||||Unrestricted|Restricted|2020|2019|
|---|---|---|---|---|---|---|
||||hands|Ands|Total|Total|
|||Notes|||||
|INCOMING RESOURCES|||||||
|Donations,
tithes and offerings||3|1,226,065||1,226,065|1,399,807|
|Special fund raising - building project||3|169,673||169,673|356,003|
|Gift aid receivable||3|174,621||174,621|496,974|
|Sundrv income||3|480||480|24,125|
|Interest receivable||4|765||765|:1,769|
|Total incoming resources|||1,571,605||1,571,605|2,278,678|
|RESOURCES EXPENDED|||||||
|(Costs ofactivities infurtherance|ofthe||||||
|objects ofthe charity)|||||||
|Direct Charitable
activities|||591,941||591,941|1,283,633|
|Management
and Support activities|||424,750||424,750|644,306|
|Governance
costs|||95,315||95,315|55,497|
|Finance ccots|||33„R52.||33,852|349,487|
|Total resources expended|||1,143,857||1,143,857|2,132,923|
|Movement in hands for the period|||427,747||427,747|145,755|
|Total funds brought forward|||3,351,677||3,351,677|3,205,922|
|Net movement
in funds for the|period||3,779,424||3,779,424|3,351,677|
|Funds tnuasfer|||3,079,140)||3,079,140)||
|Total Funds asat31December|2020||700,284||700,284|3,351,677|
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||||Notes|||||
|---|---|---|---|---|---|---|---|
|FIXEDASSETS||||||||
|Tangible assets||||355,597|35,530|391,127|4,486,180|
|Current assets||||||||
|Stock|||9|5,266||5,266|7,741|
|Debtors and prepayments|||10|25,100||25,100|130,679|
|Cash atbank and in hand||||106,340|484,368|590,708|767,771|
|||||136,706|484,368|621,074|905,591|
|Creditors: amounts|falling due|||||||
|within|one year||10|(121,508)||(121,508)|(186,495)|
|Net current assets||||15,198|484,368|499,566|719„096|
|Total assets less current||liabilities||370,795|519+98|$90,693|5/AS+76|
|Creditors: amounts|falling due after|||||||
|more than one year|||12|(190,409)||(190,409)|(1,853,599)|
|Net assets||||180,386|519,898|700,284|3,351„677|
|Financed by:
Funds|||15|180,386|519,898|700,284|3,351,677|
|Total hmds||||180,386|519,898|700,284|3,351.677|
|The financial statements||were approved by the Board of Trustees on ~ ~||||Y4/4 ~~2021 and||
|were signed on its behalf||by:||||||
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|Land and buildings|2%|cost/valuation|
|---|---|---|
|Plant and machinery|25%|reducing balance|
|Fixtures and fittings|25%|reducing balance|
|Motor vehicles|25%|reducing balance|
|Computer
and other equipment|25%|reducing balance|
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||hmkk.|Phn~||M~+Lr.|||
|---|---|---|---|---|---|---|
||~buQ luge|~machine|Litthgg|v~ehld|equi|ment|
|Qgg
Balances b/f|5,942,226|105,760|71,600|19,585|184,552||
|Additions||||||16,443|
|Elimination/Disposal|(5,614,345)||||||
|Balances c/f|327,881|105,760|71,600|19,585|200,995||
|EalamcebÃ|%,6M/AS||44949|||M.;510|
|Elimination/Disposal|(1,551,719)||||||
|Charge for the year|6,205|5,433|6,663|699||29,871|
|Balances c/f|64,751|89,462|51,612|17,488|111,381||
|Net boo
value|||||||
|At 31/12/2020|263,130|16,298|19,988|2,097||89,614|
|AZ9A'23~%9|499i' 5@i'|2$,9i&|95,594|9729|225,304||
|Tangible fixed assets -cont'd||~1|
|---|---|---|
|All assets are heldfor charitable purposes|~To|Total|
|~C||S|
|Balances b/f|6,323,722|6,262, 292|
|Additions|16,443|61,430|
|Elimination/Disposal|(5,614,345||
|Balances c/f|725,821|6,323,722|
|kccmlÃRktbcct|||
|Balance b/f|1,837,542|1,667,291|
|Elimination/Disposal|(1,551,719)||
|Charge for the year
3hdances elf|48,871
33~94|170,251
3,X~7,.542|
|Net book value|391,127|4,486,180|
|Severed debts|~1|
|---|---|
|Bank overdndt|1,465,477|
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|||Balances at|MovementinResources/funds|MovementinResources/funds|Balances at|
|---|---|---|---|---|---|
|||01/01/2020|I~nconnn|O~ut oin|31/12/2020|
|Unrestricted|funds|2,260,287|1,571,605|(3,404,145)|427,747|
|Restricted funds||1,091,390||818,853|272,537|
|||3,351,677|1,571,605|4,222,998|700,284|
|||||2020|2~01|
|Represented
Fixed Assets|by:|||391,127|4,486,1.86|
|Current Assets||||621,074|905,591|
|Liabilities||||311,917|2,040,694|
|||||700,284|3,351,677|
##
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|Donations,
tithes and offerings:
- Unrestricted|Donations,
tithes and offerings:
- Unrestricted||1+26,065||1+99+07|
|---|---|---|---|---|---|
|Other income||||||
|Interest receivable||765||1,769||
|Gift aid||174,621||496,974||
|Building fund &,other -designated
Sundry income||169,673
480|345,539|356,003
24,125|878,871|
||||1,571,605||2,278,678|
|EXPENDITURE||||||
|Direct Charitable|Costs:|||||
|Wages||277,682||350,051||
|Rent and rates||51,864||156,187||
|Honorarium||17,907||49,949||
|Travel and subsistence||6,476||35,355||
|Evangelism||2,464||40,245||
|Welfare support||50,520||58,852||
|Tralnlng||19,685||33,912||
|Pensions||39,203||38,091||
|Outreach work||8,353||48,836||
|Conferences
and Meetings||18,969||77,670||
|Missions||38,792||62,930||
|Ministry and Awards expenses||158||981||
|Sponsorship||1,569||5,421||
|Printing
and Reproduction||9,879||10,487||
|TV, Airtime
8r.publicity||32,502||34,491||
|Gift and Donations||15,918||280,175||
|||591,941||1,283,633||
|Managensent 4Support||||||
|Wages||119,007||150,022||
|Rent and rates||29,906||27,562||
|Insurance||24,914||20,739||
|Light and Heat||49,062||36,723||
|Telephone||15,436||20,084||
|Postage and stationery||4,901||9,912||
|Equipment
hire||2,487||1,228||
|Repairs and renewals||60,523||85,356||
|||306+35||351,626||
|Balances carried forward||898,176|1,571,605|1,635,258|2,278,678|
|Balances brought forward||898,176|1,571,605|1,635,258|2,278,678|
|---|---|---|---|---|---|
|Mawcgemeat ASeyyoct|-coat'4|||||
|Office and general admin||13,305||16,312||
|Computer
and equipment|expenses|15,315||8,750||
|Security Expenses||1,843||744||
|Musicians expenses||24,566||77,882||
|Subscriptions||13,281||4,968||
|Hospitality
and office expenses||1,334||9,619||
|Motor Vehicle Expenses||||4,155||
|Depreciation - Freehold Property||6,205||118,845||
|Depreciation - Plant and|Machinery|5,433||7,243||
|Depreciation - Fixture 8c|Furnitures|6,663||8,884||
|Depreciation - Motor Vehicles||699||932||
|Depieciation - Computer|Equipment|29,871||34,347||
|||118,515||292,680||
|Governance costs:||||||
|Legal 4Professional||85,815||45,997||
|Auditor's
remuneration||6,500||6,500||
|Accountancy
fees||3,000||3,000||
|||95,315||55,497||
|Finance Costs:||||||
|Bank charges||3,686||32,827||
|Mortgage interests||28,166||116,660||
|||31,852||149,487||
||||1,143,857||2,132,923|
|Surplus for the period|||427,747||145,755|