Report of the Trustees and Directors and Unaudited Financial Statements for the Year Ended 31 March 2021
for
THE NIGERIAN CHAPLAINCY
THE NIGERIAN CHAPLAINCY
Contents of the Financial Statements FOR THE YEAR ENDED 31 MARCH 2021
| Page | |
|---|---|
| Company Information | 1 |
| Report of the Trustees and Directors | 2 |
| Income Statement | 3 |
| Statement of Financial Position | 4 |
| Notes to the Financial Statements | 5 |
| Report of the Independent Examiner | 8 |
| Detailed Income and Expenditure Account | 9 |
THE NIGERIAN CHAPLAINCY
Company Information FOR THE YEAR ENDED 31 MARCH 2021
TRUSTEES AND DIRECTORS:
Revd. D O Agbelusi Chief(Mrs) F A Adebayo Bishop Dr W K Dorgu Rev A G Thom Ms F Odekeye Dr O S Kehinde Revd Dr O A Adams Mr O B Awotesu
SECRETARY: Ms F Odekeye
REGISTERED OFFICE:
REGISTERED OFFICE: 104 New Cross Road New Cross London London SE14 5BA REGISTERED NUMBER: 02887521 (England and Wales)
ACCOUNTANTS: O Obidipe 20 Osborne Road Enfield EN3 7RN
Page 1
THE NIGERIAN CHAPLAINCY
Report of the Trustees and Directors FOR THE YEAR ENDED 31 MARCH 2021
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2018. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015).
TRUSTEES AND DIRECTORS
The trustees and directors shown below have held office during the whole of the period from 1 April 2020 to the date of this report.
Revd. D O Agbelusi Chief(Mrs) F A Adebayo Bishop Dr W K Dorgu Rev A G Thom Ms F Odekeye Dr O S Kehinde Mr O B Awotesu
Other changes in trustees and directors holding office are as follows:
Revd Dr O A Adams - appointed 7 November 2020
This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.
ON BEHALF OF THE BOARD:
Revd Dr O A Adams - Trustee and Director
8 December 2021
Page 2
THE NIGERIAN CHAPLAINCY
Income Statement FOR THE YEAR ENDED 31 MARCH 2021
| 31.3.21 | 31.3.20 | ||
|---|---|---|---|
| Notes | £ | £ | |
| TURNOVER | 61,682 | 43,135 | |
| Cost of sales | 2,725 | 1,964 | |
| GROSS SURPLUS | 58,957 | 41,171 | |
| Administrative expenses | 37,491 | 47,748 | |
| 21,466 | (6,577) | ||
| Other operating income | 3,816 | 2,691 | |
| OPERATING SURPLUS/(DEFICIT) | 4 | 25,282 | (3,886) |
| Interest receivable and similar income | - | 1 | |
| SURPLUS/(DEFICIT) BEFORE | |||
| TAXATION | 25,282 | (3,885) | |
| Tax on surplus/(deficit) | - | - | |
| SURPLUS/(DEFICIT) FOR THE | |||
| FINANCIAL YEAR | 25,282 | (3,885) |
The notes form part of these financial statements
Page 3
THE NIGERIAN CHAPLAINCY (REGISTERED NUMBER: 02887521)
Statement of Financial Position 31 MARCH 2021
| Notes FIXED ASSETS Tangible assets 5 CURRENT ASSETS Cash at bank CREDITORS Amounts falling due within one year 6 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES RESERVES Income and expenditure account 7 |
31.3.21 £ 36,424 3,310 |
£ 1,820 33,114 34,934 34,934 34,934 |
31.3.20 £ 9,260 2,178 |
£ 2,570 7,082 9,652 9,652 9,652 |
|---|---|---|---|---|
The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 in accordance with Section 476 of the Companies Act 2006.
The trustees and directors acknowledge their responsibilities for:
-
(a) ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and Directors and authorised for issue on 8 December 2021 and were signed on its behalf by:
Revd Dr O A Adams - Trustee and Director
The notes form part of these financial statements
Page 4
THE NIGERIAN CHAPLAINCY
Notes to the Financial Statements FOR THE YEAR ENDED 31 MARCH 2021
1. STATUTORY INFORMATION
The Nigerian Chaplaincy is a private company, limited by guarantee, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2. ACCOUNTING POLICIES
BASIS OF PREPARING THE FINANCIAL STATEMENTS
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
1.1 Basis of preparing the financial Statements
The Financial Statements have been prepared under the historical cost convention and in accordance with the Financial Statements for Smaller Entities (effective June 2002). In preparing the financial statements, the charity follows best practice as laid down in the Statement of Recommended Practice (SORA). Accounting and Reporting by Charities issued in October 2000.
1.2 Incoming resources
Voluntary income and donations are included in Incoming resources when they are receivable, except when donors' conditions have not been fulfilled, then the income is deferred. The income from fundraising ventures is shown gross, with the associated costs included in fundraising costs.
1.3 Resources expended
Resources expended are included in the Statement of Financial Activities on an accrual basis, inclusive of any VAT which cannot be recovered.
Expenditure which is directly attributable to specific activities has been included in these cost categories. Where costs are attributable to more than one activity, they have been apportioned across the cost categories on a basis consistent with the use of these resources.
1.4 Restricted Funds
Restricted funds are those which are used for the purposes specified by the donor. Expenditure, which meets the criteria, is charged to the fund.
1.5 Unrestricted Funds
Unrestricted funds are the income received or generated for the objectives of the charity without further specified purpose and are available as general fund.
1.6 Designated Funds
Designated funds are those amounts, which the management committee have allocated from unrestricted funds for a particular purpose.
1.7 Apportionment of Costs
Where costs could not be directly allocated to a particular activity heading in the Statement of Financial Activities, they have been apportioned on a fair and reasonable basis. Salaries are apportioned on a basis of time spent.
1.8 Fundraising Costs
Fundraising expenditure comprises costs incurred in inducing people and organizations to contribute financially to the charity's work. This includes the cost of advertising for donations and the staging for special fundraising events.
1.9 Management and Administration Expenditure
Administration expenditure includes all expenditure directly related to the charitable activity or fundraising ventures. This includes costs of renting and running office premises, staff salaries for administrative staff and audit fees.
Page 5
continued...
THE NIGERIAN CHAPLAINCY
Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 MARCH 2021
2. ACCOUNTING POLICIES - continued
TURNOVER
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.
3. EMPLOYEES, TRUSTEES AND DIRECTORS
The average number of employees during the year was 1 (2020 - 1).
4. OPERATING SURPLUS/(DEFICIT)
The operating surplus (2020 - operating deficit) is stated after charging:
| 31.3.21 | 31.3.21 | 31.3.20 | ||
|---|---|---|---|---|
| £ | £ | |||
| Depreciation - owned assets | 750 | 751 | ||
| 5. | TANGIBLE FIXED ASSETS | |||
| Plant and | ||||
| machinery | ||||
| etc | ||||
| £ | ||||
| COST | ||||
| At 1 April 2020 | 8,317 | |||
| Disposals | (332) | |||
| At 31 March 2021 | 7,985 | |||
| DEPRECIATION | ||||
| At 1 April 2020 | 5,747 | |||
| Charge for year | 750 | |||
| Eliminated on disposal | (332) | |||
| At 31 March 2021 | 6,165 | |||
| NET BOOK VALUE | ||||
| At 31 March 2021 | 1,820 | |||
| At 31 March 2020 | 2,570 | |||
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
| 31.3.21 | 31.3.20 | |||
| £ | £ | |||
| Taxation and social security | 1,600 | 1,522 | ||
| Other creditors | 1,710 | 656 | ||
| 3,310 | 2,178 |
5.
Page 6
continued...
THE NIGERIAN CHAPLAINCY
Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 MARCH 2021
7. RESERVES
| RESERVES | |
|---|---|
| Income | |
| and | |
| expenditure | |
| account | |
| £ | |
| At 1 April 2020 | 9,652 |
| Surplus for the year | 25,282 |
| At 31 March 2021 | 34,934 |
Page 7
THE NIGERIAN CHAPLAINCY
Report of the Independent Examiner to the Trustees and Directors of The Nigerian Chaplaincy
As described on the Statement of Financial Position you are responsible for the preparation of the financial statements for the year ended 31 March 2021 set out on pages three to seven and you consider that the company is exempt from an audit.
In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.
O Obidipe 20 Osborne Road Enfield EN3 7RN
Date: .............................................
This page does not form part of the statutory financial statements
Page 8
THE NIGERIAN CHAPLAINCY
Detailed Income and Expenditure Account FOR THE YEAR ENDED 31 MARCH 2021
| Income Cost of sales Direct charitable expenses GROSS SURPLUS Other income Other income Government grants Deposit account interest Expenditure Rates and water Wages Social security Pensions Telephone Post and stationery Travelling Hall rent Repairs and renewals Books, journals & periodicals Property repairs & maintenance Computer costs Sundry expenses Services expenses Legal fees Chaplain relocation costs Finance costs Bank charges Depreciation Fixtures and fittings Computer equipment NET SURPLUS/(DEFICIT) |
31.3.21 £ 1,125 2,691 - 818 28,125 2,691 800 470 95 1,653 - 132 - 626 - (2) 1,260 13 - 344 406 |
£ 61,682 2,725 58,957 3,816 62,773 36,681 26,092 60 26,032 750 25,282 |
31.3.20 £ - 2,691 1 628 28,125 2,691 800 425 355 5,092 2,940 - 140 4,492 422 - 375 - 453 344 406 |
£ 43,135 1,964 41,171 2,692 43,863 46,938 (3,075) 60 (3,135) 750 (3,885) |
|---|---|---|---|---|
This page does not form part of the statutory financial statements
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