**Report of the Trustees and Directors and Unaudited Financial Statements for the Year Ended 31 March 2022** **for** **THE NIGERIAN CHAPLAINCY** **THE NIGERIAN CHAPLAINCY** ## **Contents of the Financial Statements FOR THE YEAR ENDED 31 MARCH 2022** ||**Page**| |---|---| |**Company Information**|1| |**Chairman's Report**|2| |**Report of the Trustees and Directors**|3| |**Income Statement**|4| |**Statement of Financial Position**|5| |**Notes to the Financial Statements**|6| |**Report of the Accountant**|9| |**Detailed Income and Expenditure Account**|10| **THE NIGERIAN CHAPLAINCY** ## **Company Information FOR THE YEAR ENDED 31 MARCH 2022** ## **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 O B Awotesu **SECRETARY:** Ms F Odekeye **REGISTERED OFFICE:** 104 New Cross Road New Cross London London SE14 5BA **REGISTERED NUMBER:** 02887521 (England and Wales) ## **ACCOUNTANT:** O Obidipe 20 Osborne Road Enfield EN3 7RN Page 1 ## **THE NIGERIAN CHAPLAINCY** ## **Chairman's Report FOR THE YEAR ENDED 31 MARCH 2022** As 2022 draws to a close and we approach a new season of Advent, we give thanks to God for His abundant mercies in the work of the Nigerian Chaplaincy, the lives of its members and the fruitful collaboration of its partners. The societies of which we are a part, both in the UK and in Nigeria, continue to face varied challenges, with rising costs of living and, particularly in Nigeria, a deteriorating security environment. We are called, in all things, to give thanks; so, even with losses and disappointments of the past year, we give thanks to God for His provision, His protection and for our preservation. We thank God for the life and service of those servants of God known to members of the Chaplaincy who have gone to eternal rest, notably for us, Rt Revd Peter Awelewa Adebiyi, late father of Revd Dayo Adebiyi, who leads the Nigerian Chaplaincy congregation at Church of The Holy Cross, Milton Keynes. We also thank God for the lives of other members of the Chaplaincy and family members who have gone to eternal rest since our 2021 AGM. May they all rest in peace and rise in glory. Amen. We continue to hold up in our prayers, members of the Chaplaincy in poor health and, especially remember, Revd Canon Olu Adams, the Chair of this Management Committee and we thank God for the progress of his recovery. We thank God for the continuing progress and development of the Nigerian Chaplaincy and for the inestimable help from our various partners, especially St Luke's West Kilburn and their vicar, Revd Canon Alastair Thom and all our partner churches in Upper Holloway and New Cross, London, in Manchester, Milton Keynes and Birmingham, as well as the Overseas Fellowship of Nigerian Christians. A silver lining from the restrictions to physical worship during the Covid pandemic was the establishment of a Chaplaincy Zoom account. Various Chaplaincy services are now held in a hybrid model encompassing both physical attendance and online on Zoom, with worshippers joining in from as far away as North America and Australia and from Nigeria as well. The online facility has also facilitated more convenient meetings, such as the Annual CMS Lecture, enabling the Chaplaincy to connect with the global Nigerian diaspora. The Chaplaincy's Zoom facilities have also fostered the flourishing of the activities of the Mothers' Union, Sunday School meetings, the Men's Fellowship, Youth Groups and Prayer Meeting groups. The Men's Fellowship continues to play a leading role in the affairs of the Chaplaincy with its quarterly Breakfast Meetings that are a forum for enlightening presentations and discussion on a variety of topics of significant importance. It also co-ordinates various fund-raising efforts, including, most recently in commemoration of the elevation of our former Chaplain, Venerable Enwuchola, to the Bishopric in the Diocese of Otukpo. Together with the Women's Fellowship, we also celebrated the 30th anniversary of the ordination of our current Chaplain, Venerable Ajaefobi, at a joyous service with one of our Patrons, Rt Revd Christopher Chessun, who delivered the sermon. Our £4m fund-raising appeal for the Nigerian Chaplaincy Resource Centre continues apace and we thank God for the generous donations received and pledges made to date. Femi Awotesu Vice Chair Nigerian Chaplaincy Management Committee Page 2 ## **THE NIGERIAN CHAPLAINCY** ## **Report of the Directors FOR THE YEAR ENDED 31 MARCH 2022** 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). ## **DIRECTORS AND DIRECTORS** The trustees and directors shown below have held office during the whole of the period from 1 April 2021 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 Revd Dr O A Adams O B Awotesu 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:** O B Awotesu – Trustee and Director 9 November 2022 Page 3 **THE NIGERIAN CHAPLAINCY** ## **Income Statement FOR THE YEAR ENDED 31 MARCH 2022** |Notes
**INCOMING RESOURCES**
**Incoming resources from generated funds**
Voluntary income
Investment income
**Total incoming resources**
**RESOURCES EXPENDED**
**Charitable activities**
Direct Charitable Expenditure
Management and
Administration
**Total resources expended**
**NET INCOMING RESOURCES/(EXPENDED) 4**|Unrestricted
funds
£
46,818
-
46,818
500
54,213
54,713
(7,895)|Restricted
funds
£
28,762
-
28,762
6,506
-
6,506
22,256|31.03.22
Total
funds
£
75,580
-
75,580
7,006
54,213
61,219
14,361|31.03.21
Total
funds
£
65,498
-| |---|---|---|---|---| |||||65,498
2,725
37,491| |||||40,216| |||||25,282| The notes form part of these financial statements Page 4 ## **THE NIGERIAN CHAPLAINCY (REGISTERED NUMBER: 02887521)** ## **Statement of Financial Position 31 MARCH 2022** |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**
General funds
7
Building fund
7|31.3.22
£
48,686
1,637|£
2,246
47,049
49,295
27,039
22,256
49,295|31.3.21
£
36,424
3,310|£
1,820
33,114
34,934
34,934
-
34,934| |---|---|---|---|---| The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022. The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 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 9 November 2022 and were signed on its behalf by: O B Awotesu – Trustee and Director The notes form part of these financial statements Page 5 **THE NIGERIAN CHAPLAINCY** ## **Notes to the Financial Statements FOR THE YEAR ENDED 31 MARCH 2022** ## 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 6 continued... **THE NIGERIAN CHAPLAINCY** ## **Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 MARCH 2022** ## 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 surplus or deficit in the period to which they relate. ## 3. **EMPLOYEES, TRUSTEES AND DIRECTORS** The average number of employees during the year was 1 (2021 - 1). ## 4. **OPERATING SURPLUS** The operating surplus is stated after charging: |||31.3.22|31.3.21| |---|---|---|---| |||£|£| ||Depreciation - owned assets|865|750| |5.|**TANGIBLE FIXED ASSETS**||| ||||Plant and| ||||machinery| ||||etc| ||||£| ||**COST**||| ||At 1 April 2021||7,985| ||Additions||1,291| ||At 31 March 2022||9,276| ||**DEPRECIATION**||| ||At 1 April 2021||6,165| ||Charge for year||865| ||At 31 March 2022||7,030| ||**NET BOOK VALUE**||| ||At 31 March 2022||2,246| ||At 31 March 2021||1,820| |6.|**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**||| |||31.3.22|31.3.21| |||£|£| ||Taxation and social security|1,205|1,600| ||Other creditors|432|1,710| |||1,637|3,310| ## 5. continued... Page 7 **THE NIGERIAN CHAPLAINCY** ## **Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 MARCH 2022** ## 7. **RESERVES** |**Unrestricted funds**
General fund
**Restricted funds**
Building
**TOTAL FUNDS**|At 1.4.21
£
34,934
-
34,934|Net
movement
in funds
£
(7,895)
22,256
14,361|Transfers
between
funds
£
-
-
-|At
31.12.22
£
27,039
22,256| |---|---|---|---|---| |||||49,295| Page 8 **THE NIGERIAN CHAPLAINCY** ## **Report of the Accountant 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 2022 set out on pages four to eight 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: 26 November 2022 This page does not form part of the statutory financial statements Page 9 **THE NIGERIAN CHAPLAINCY** ## **Detailed Income and Expenditure Account FOR THE YEAR ENDED 31 MARCH 2022** |**Turnover**
Income
Building Fund
**Cost of sales**
Direct charitable expenses
Honorarium
**GROSS SURPLUS**
**Other income**
Sundry receipts
Other income
Government grants
**Expenditure**
Rates and water
Insurance
Charitable donation
Wages
Social security
Pensions
Telephone
Post and stationery
Travelling
Hall rent
Repairs and renewals
Staff welfare & training
Books, journals & periodicals
Property repairs & maintenance
Services expenses
Legal fees
Ministerial clothing
**Finance costs**
Bank charges
Carried forward|31.3.22
£
43,581
22,256
-
500
328
6,506
2,938
1,418
1,025
8,740
30,132
2,938
805
5,222
277
2,791
2,600
-
1,000
62
852
1,750
13
228|£
65,837
500
65,337
9,772
75,109
59,853
15,256
30
15,226|31.3.21
£
61,682
-
2,725
-
-
1,125
2,691
818
-
-
28,125
2,691
800
470
95
1,653
-
130
-
-
626
1,260
13
-|£
61,682
2,725
58,957
3,816
62,773
36,681
26,092
60
26,032| |---|---|---|---|---| This page does not form part of the statutory financial statements Page 10 **THE NIGERIAN CHAPLAINCY** ## **Detailed Income and Expenditure Account FOR THE YEAR ENDED 31 MARCH 2022** |Brought forward
**Depreciation**
Fixtures and fittings
Computer equipment
**NET SURPLUS**|31.3.22
£
344
521|£
15,226
865
14,361|31.3.21
£
344
406|£
26,032
750
25,282| |---|---|---|---|---| This page does not form part of the statutory financial statements Page 11