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|Annual<br>Report||4 —22|
|---|---|---|
|Independent<br>Auditor's|Report|23-26|
|Statement of Financial|Activities|27|
|Balance Sheet||28|
|Cash Flow Statement||29|
|Notes to the accounts||30-51|





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||||||||2022|2021|
|---|---|---|---|---|---|---|---|---|
||||||||f|E|
|Interest|receivable|on|short|term|cash|deposits|28,067|13,183|
|Dividend|Income||||||43,213|31,485|
|Totals|||||||71,280|44,668|



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||||2022|2021|
|---|---|---|---|---|
||||E||
|Investment|Management|Fees|23,972|17,647|
|Totals|||23,972|17,647|



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|2022<br>Transfers between<br>Funds were made as|2022<br>Transfers between<br>Funds were made as|2022<br>Transfers between<br>Funds were made as|Legacy to<br>Generalre<br>Deficit for<br>year|Legacy to<br>Designated<br>Funds to fund<br>activities|Building<br>Fund<br>to Designated<br>Building<br>Fund|Building<br>Fund<br>to Designated<br>Building<br>Fund|Bible Fund to<br>Designated<br>Bible Fund|Totals|
|---|---|---|---|---|---|---|---|---|
|follows:|||||||||
|Unrestricted||Funds|||||||
|General|||||||||
|Legacy||||(270,000)||||(270,000)|
|Designated||Building|||||||
|Fund||||250,000||||250,000|
|Designated||Bible Fund||20,000||||20,000|
|Restricted|Funds||||||||
|Bible Fund|||||||||
|Buildings|||||||||
|BMM Fund|||||||||
|2021as restated<br>Transfers between<br>Funds were made as<br>follows:|||Legacy to<br>General re<br>Deficit for<br>year|Legacy to<br>Designated<br>Funds to fund<br>activities|Building<br>Fund<br>to Designated<br>Building<br>Fund||Bible Fund to<br>Designated<br>Bible Fund|Totals|
|Unrestricted||Funds|||||||
|General|||||||||
|Legacy||||(35,000)||||(35,000)|
|Designated||Building|||||||
|Fund|||||||||
|Designated||Bible Fund||35,000||||35,000|
|Restricted|Funds||||||||
|Bible Fund|||||||||
|Buildings|||||||||
|BMM Fund|||||||||



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|2022||East|West Africa|South<br>East|North<br>West|BKRU|Other|
|---|---|---|---|---|---|---|---|
|||Africa||||||
|||||Europe|Europe|||
|Unrestricted<br>Funds||||||||
|General<br>Fund||122,025|78,971|12,550|6,910|2,825|10,000|
|Legacy Fund||||||||
|Designated<br>Building|Fund|3,630|22,300|||||
|Designated<br>Bible Fund||||||||
|||125,655|101,271|12,550|6,910|2,825|10,000|
|Restricted<br>Funds||||||||
|Welfare Fund||||||||
|Disaster Fund||||||||
|Buildings<br>Fund||||||||
|Project Aid Fund||||||||
|BMM Fund||||||||
|Total Funds||125,655|101,271|12,550|6,910|2,825|10,000|
||||||||259,211|
|2021 —as restated||East|West Africa|South<br>East|North<br>West|BKRU|Other|
|||Africa||||||
|||||Europe|Europe|||
|Unrestricted<br>Funds||||||||
|General<br>Fund||110,497|50,508|8,690|9,140|2,495|9,420|
|Legacy Fund||||||||
|Designated<br>Building|Fund|9,210|69,642|||||
|Designated<br>Bible Fund||||||||
|||119,707|120,150|8,690|9,140|2,495|9,420|
|Restricted<br>Funds||||||||
|Welfare Fund||||||||
|Disaster Fund||||||||
|Buildings<br>Fund|||3,650|||||
|Project Aid Fund||||||||
|BMM Fund||||||||
|Bible Fund||||||||
||||3,650|||||
|Total Funds as restated||119,707|123,801|8,690|9,140|2,495|9,420|
||||||||273,252|



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|17.Analysis ofNet Assets between<br>Funds|17.Analysis ofNet Assets between<br>Funds|||||
|---|---|---|---|---|---|
|Fund Balances at 31December 2022 are||Unrestricted||||
|represented<br>by:||Funds|Restricted|Funds|Total|
|||E||||
|Investments||3,408,703|||3,408,703|
|Current Assets||268,997|680,735||949,732|
|Current<br>Liabilities||(22,769)||(2,214)|(24,983)|
|Constructive<br>Liabilities||(259,211)|||(259,211)|
|Totals||3,395,720|678,521||4,074,242|
|Fund Balances at 31December 2021as||Unrestricted||||
|restated are represented|by:|Funds|Restricted|Funds|Total|
|||E||||
|Investments||3,059,667|||3,059,667|
|Current Assets||585,325|424,104||1,009,429|
|Current<br>Liabilities||(26,292)||(9,068)|(35,360)|
|Constructive<br>Liabilities||(269,603)||(3,650)|(273,253)|
|Totals||3,349,097|411,386||3,760,484|





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|||||As restated|
|---|---|---|---|---|
||||2022|2021|
|||||E|
|Net income/(expenditure)||forthe reporting|||
|period (as per the Statement||ofFinancial|313,758|705,779|
|Activities)|||||
|Adjustments for:|||||
|(Increase)/decrease|in debtors||(30,013)|267,487|
|Investment<br>income|||(71,280)|(44,668)|
|Loss on investments|||235,105|(73,903)|
|Increase/(decrease)|in creditors||(24,420)|(31,060)|
|Net cash provided<br>activities|by/(used|in) operating|423,150|823,635|
|Analysis ofCash and Cash||Equivalents|||
|Cash held in investments|||147,970|114,805|
|Cash in hand|||843,420|933,130|
|Total Cash and Cash Equivalents|||991,390|1,047,935|



|22.Financial|instruments||||
|---|---|---|---|---|
||||2022|2021|
|Carrying amount offinanciai assets|||||
|Instruments|measured<br>at fair value through|profit and loss|1,500,733|1,549,862|



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|ges to the b|alance|sh|eet|||||
|---|---|---|---|---|---|---|---|
||||||||As restated|
||||||||at 31|
||||||As previously<br>reported|Adjustment|December<br>2021|
||||||E|E|E|
|Constructive|Liability|||1|(190,750)|(82,503)|(273,253)|
|Net Assets|||||3,842,986|(82,503)|3,760,483|
|Unrestricted|Funds:|||||||
|General|||||800,793||800,793|
|Legacy|||||2,409,210||2,409,210|
|Designated|Building||Fund|||100,450|100,450|
|Designated|Bible|Fund||||38,645|38,645|
||||||3,210,003|139,095|3,349,098|
|Restricted<br>Funds:||||||||
|Welfare|||||287,058||287,058|
|Buildings<br>Fund|||||182,953|(182,953)||
|Project Aid|Fund||||106,518||106,518|
|Bible Missionary||Fund|||17,809||17,809|
|Bible Fund|||||38,645|(38,645)||
||||||632,983|(221,598)|411,385|
|Total Funds|||||3,842,896|(82,503)|3,760,483|






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||||As restated|
|---|---|---|---|
|SoFA —Restricted<br>Funds|As previously<br>reported|Adjustment|y/e 31<br>December<br>2021|
|Expenditure<br>on:||||
|Charitable<br>activities|772,001|(78,214)|693,787|
|Cost ofraising funds||||
|Other||||
|Total|772,001|(78,214)|693,787|
|Gains on investments||||
|Net income/(expenditure)|(35,039)|78,214|43,175|
|Transfers between funds|35,000|(35,000)||
|Net Movement<br>in Funds forthe year|(39)|43,214|43,175|
|Reconciliation<br>offunds: Restricted||||
|Funds brought forward at 1January|633,022|(264,811)|368,211|
|2021||||
|Restricted<br>Funds carried forward at 31<br>December 2021|632,983|(221,597)|411,386|



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|||||As restated|
|---|---|---|---|---|
|SoFA-Total Funds||As previously<br>reported|Adjustment|y/e 31<br>December<br>2021|
|Expenditure<br>on:|||E||
|Charitable<br>activities|1,2|1,094,132|(6,499)|1,087,633|
|Cost of raising funds|||17,647|17,647|
|Other||32,216|(32,216)||
|Total||1,126,348|(21,068)|1,105,279|
|Gains on investments||73,903||73,903|
|Net income/(expenditure)||684,710|21,068|705,778|
|Transfers between funds|||||
|Net Movement<br>in Funds forthe year||684,710|21,068|705,778|
|Reconciliation offunds: Total Funds<br>brought forward at 1January 2021||3,158,276|(103,572)|3,054,704|
|Total Funds carried forward at 31<br>December 2021||3,842,986|(82,504)|3,760,482|