**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 Page 9