The New Testament Gospel Church Charity No 1023232
Report & Financial Statements 31st March 2023
Coker Isah & Co. Chartered Certified Accountants
The New Testament Gospel Church
| Charity No 1023232 | |
|---|---|
| INDEX | |
| Page | |
| Charity details | 1 |
| Trustees' Reports | .2- 3 |
| Independent Examiners Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 |
| Notes to Financial Activities | 7…8 |
| Detailed Statement of Financial Activities | Appendix |
Page 1 The New Testament Gospel Church
Charity Details
Charity No 1023232
MANAGEMENT COMMITTEES
Trustees Paschal Oribhabor Hannah Ronke Masade Dr Mike Masade
Secretary Hannah Ronke Masade Charity Number 1023232 Registered Office 1a Liffler Plumsted London SE18 1AU
- Accountants Coker Isah & Co. Chartered Certified Accountants 74 Church Road Crystal Palace London SE19 2EZ
Place of Worship 1a Liffler Plumsted London SE18 1AU
Bankers Barclays Bank Plc Clapham, Junction Branch P O Box 3847 Londopn SW11 1TR
Page 2
The New Testament Gospel Church
TRUSTEES' REPORT for the year ended 31 March 2023
The trustees present their report together with the financial statements of the charity for the year ended 31 Dec 2018 The financial statements have been prepared in accordance with the accounting policies set out on page 7 and comply with the charity's trust deed and applicable law.
Trustees
The trustees named on page 1 have served throughout the year. Appointment of trustees is governed by the Trust Deed of the charity. The Board of trustees is authorised to appoint new trustees to fill vacancies arising through resignation or death of an existing trustee.
Investments powers
The Trust Deed authorises the trustees to make and hold investments using the general funds of the charity, but no such investments are presently held.
Constitution, objects and policies
The principal activity of the organization was that of providing advancement of Christian faith
The policy of the charitable Trust continues to be to seek additional donations to continue to run the organisation
The trustees take the day responsibility for running the charity.
Development, activities and achievements
The trustees consider that the performance of the charity this year has been most satisfactory and the average number of members has increased once again this year.
Financial review
Funds available are sufficient to permit the Trust to continue in operation in the medium term, given the continued support of the members. Should this support not continue in the longer term, further financial support would need to be sought to replace it.
Risk Management
The trustees actively review the major risk which the charity faces on a regular basis and believe that maintaining reserves at current levels, combined with an annual review of the controls over key financial systems, will provide sufficient resources in the event of adverse conditions. The trustees have also examined other operational and business risks faced by the charity and confirm that they have established systems to mitigate the significant risks.
Page 3
The New Testament Gospel Church
Charity No 1023232
TRUSTEES' REPORT for the year ended 31 March 2023
Future Developments
The charity's activities has increased during the year under review . The trustees are seeking to extend the charity's activities and are pursuing a number of activities to enable this to happen
Reserve policy
It is the policy of the charity to maintain unrestricted funds at a level which provides sufficient funds to cover management and administration and support costs. Unrestricted funds are maintained at least at this level throughout the year.
Statement of trustees' responsibilities
Law applicable to charities in England Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the charity's financial activities during the year and of its financial position at the end of the year. In preparing those financial statements, the trustees are required to:
a) Select suitable accounting policies and apply them consistently;
b) make judgments and estimates that are reasonable and prudent;
c) state whether applicable accounting standards and statements of recommended practice have been followed, subject to any departures disclosed and explained in the financial statements;
d) prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the charities Act 2011 They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approval
This project was approved by the trustees on 14/07/2023 and signed on their behalf
signed Hannah Ronke Masade Trustee
Page 4 The New Testament Gospel Church
Independent Examiner's Report on the Accounts (CC65)(b) (Accrual) Report the trustees and members of
The New Testament Gospel Church
Charity No 1023232
The accounts for the year ended 31March 2022 Set out in pages 4-6
Respective responsibilities of the trustees and examiner
The trustees are responsible for the preparation of the accounts, you consider that an audit
is not required under section 144 of the charities 2011 (the act) and does not apply, and that
independent examination is needed
It is my responsibility to
-
examine the accounts under section 145 of the Charities Act
-
to follow the procedure laid down in the General Directions given by the Charity Commissioners under section 145 (5) (b) of the Act and
-
to state whether particular matters have come to my attention
Basis of independent examiner's report
My examination was carried out in accordance with the General Directions given by the Charity Commissioners .
An examination includes a review of the accounting records kept by the charity and a comparison of the accounts
presented with those records .It also includes consideration of any unusual items or disclosures in the accounts and , seeking explanation from you as trustees concerning any such matters. The procedures undertaken do
not provide all the evidence that would be required in an audit and consequently I do not express an audit opinion on the view given by the accounts.
Independent examiner's statement
In connection with my examination ,no matter has come to my attention
(1) which give me reasonable cause to believe that in any material in respect the requirements
-
to keep accounting records in accordance with section 130 of the Charities Act and
-
to prepare accounts accordance with the accounting records and to comply with the
accounting requirement of the Act
have not been met.
(2) to which, in my opinion ,attention should be drawn in order to enable a proper understanding of the accounts to be reached.
James Coker Dated 14 /07 / 2023
Signed
MBA FCCA Relevant qualifications Address
Coker Isah & Co.
Chartered Certified Accountants
74 Church Road London SE19 2EZ
Page 5
The New Testament Gospel Church
Statement of Financial Activities
For the year ended 31 March 2023
| Incoming & Expenditure Income: Voluntary Sources- Donation Otherr Income- TOTAL INCOME Direct Charitable Expenditure: Direct Charitable Expenditure: Management & Administration Expenditure TOTAL EXPENDITURE Net Income\ ( Expenditure) Fund Balance B/F Fund Balance C\F |
Unrestricted Fund 2023 58946 11978 0 70924 60846 6136 66982 3942 31395 35337 |
Unrestricted Fund 2022 96019 4854 6492 |
|---|---|---|
| 107365 | ||
| 90730 11037 |
||
| 101767 | ||
| 5598 25797 |
||
| 31395 |
The notes on page 6 form part of these accounts
page 6
| The New Testament Gospel Church Charity No 1023232 Balance Sheet 31st March 2023 2022 £ £ FIXED ASSETS 175,214 CURRENT ASSETS Debtors 0 Bank & cash 19,529 19,529 CREDITORS Amounts falling due within one year Accrual & deferred income 7,905 7,905 Net Current Liabilities 11,624 186,838 CREDITORS Amount falling due after more than one year Bank Loan 37,954 TOTAL ASSETS LESS CURRENT LIABILITIES 148,884 ACCUMULATED FUND Retained Surplus Brought Forward 31,395 Surplus for the year 3,942 Retained Surplus Carried Forward 35,337 |
2022 £ £ 176,038 0 36,818 36,818 131,461 131,461 -94,643 81,395 50,000 31,395 25,797 5,598 31,395 |
2022 £ £ 176,038 0 36,818 36,818 131,461 131,461 -94,643 81,395 50,000 31,395 25,797 5,598 31,395 |
|---|---|---|
| 81,395 50,000 |
||
| 31,395 | ||
| 25,797 5,598 |
||
| 31,395 |
Approved on 14 /07 / 2023 and singed on behalf of the Trustees
By signed Paschal Oribhabor Trustee Member
signed Hannah Ronke Masade Trustee Member
Page 7 The New Testament Gospel Church
Notes to the Financial Statements 31st March 2023
1 Accounting policies
1.1 Accounting convention
The financial statements are prepared under historical cost convention and in accordance with The Financial Reporting Standard for Smaller Entities (FRSSE) (effective Jan 2005) and statement of Recommended Practice (SORP 2005) ,and with the Charity Acts 2011
1.2 Incoming Resources
The Income represent the total donation and Income Tax Claimed excluding Value Added Tax , receivable during the year
1.3 Depreciation
Depreciation is provided on tangible Fixed Assets at rate calculated to write off the cost less residual value of each assets over its expected useful life as follows:-
Fixture fitting and equipment 25% reducing balance basis
1.4 Donation
Donation receivable are credited to the Statement of Financial Activities (SOFA)) in the year for the year which they are received.
- 1.5 Resources Expended
Resources Expended are included in the Statement of Financial Activities (SOFA) on an accrual basis inclusive of VAT
1.6 Unrestricted Funds Unrestricted Funds are donations and other incoming resources received or generated for the charitable purposes
1.8 Restricted Funds
Restricted Funds are funds received which can only be used for the specific purpose as laid out by the donor Expenditure which meets this criterion is identified to the fund, together with a fair allocation of overheads costs. During the year there are no restricted fund.
2 Income
The total income of the organization for the year has been derived from its principal activity wholly undertaken in the UK
| 3 Operating surplus Operating surplus is stated after charging Depreciation of tangible assets |
2023 £ 824 |
2022 £ 1098 |
|---|---|---|
page 8
The New Testament Gospel Church Notes to the Financial Statements
| 4 Fixed Assets Freehold Land Cost 01-Apr-22 172,743 Additions 0 Disposal 31-Mar-23 172,743 Depreciation 01-Apr-22 0 Disposal Charge for the year 0 31-Mar-23 0 Net Book Values 31-Mar-23 172,743 31-Mar-22 172,743 5 Creditors amount falling due within one year Inland Revenue Creditor and accrual 6 Summary of Assets by Fund Unrestricted funds Restricted Fund Total |
Fixture Fittings equipment 12,265 0 12,265 8,970 824 9,794 2,471 3,295 2,023 £ 0 7,105 800 7,905 35,337 0 35,337 |
Total 185,008 0 0 0 0 |
|---|---|---|
| 185,008 | ||
| 8,970 0 0 824 |
||
| 9,794 175,214 |
||
| 176,038 | ||
| 2,022 £ 0 6,270 610 6,880 |
||
| 31,395 0 |
||
| 31,395 |
7 Trustees Remuneration
Only one of the trustee is under PAYE System
Appendix The New Testament Gospel Church Statement of Financial Activities For the year ended 31 March 2023
| Incoming & Expenditure Income: Voluntary Sources- Donation Gift Aid Grants & JRS TOTAL INCOME Direct Charitable Expenditure: Wages, salaries & NIC Office Expenses Oversea development Training & development Entertainment & Conventions Insurance Computer consumables Light & heat Repair & maintenance Cleaning Printing postage and stationery Advertising Telephone Traveling & entertainment Loan interest Management & Administration Expenditure Legal and professional Accountancy Bank charges General expenses Charitable donation Depreciation on FF and equipment TOTAL EXPENDITURE Net movement in funds for the year Fund Balance BF Fund balbce cf |
Unrestricted Fund 2023 £ 58946 11978 70924 39054 189 750 100 1713 1168 389 2935 3856 702 638 345 2071 952 5984 60846 1377 800 708 161 2266 824 6136 66982 3942 31395 35337 |
Unrestricted Fund 2022 £ 96019 4854 6492 |
|---|---|---|
| 107365 | ||
| 61280 2796 1278 2000 2190 1091 891 1626 4772 3400 209 356 1920 2986 3935 |
||
| 90730 | ||
| 1175 750 865 347 6802 1098 |
||
| 11037 | ||
| 101767 | ||
| 5598 25797 |
||
| 31395 |