THE SWORD OF THE SPIRIT MINISTRIES FINANCIAL STATEMENTS FOR THE YEAR ENDED 31- MARCH 2022 CHARITY NUMBER: 1033769 SWORD OF THE SPIR￿ MINISTRIES Contents of the Financial Statements for the period 01 April 2020 to 31 Marth 2021 Content Pa Content Legal and Administrative details Trustee's Report Independent Examinerf5 Report Statement of Financial Activities Balance Sheet Notes on the Financial Statements 8-12 THE SWORD OF THE SPIRIT MINISTrIES LEGAL AND ADMINISTRATIVE DEfAILS YEAR ENDED 31ST MARCH 2021 ADDRESS FOR CORRESPONDENCE 54 Camrose Street Abbey wood London SE2 OJA REGISTERED CHARITY 1033769 GOVERNING DOCUMENT Declaration of Trust dated 11 February 1994 TRUSTEES Bishop Francis Wale Oke Rev Olufemi O'tokunbo Oke 5afiu Ibikunle Mobolaji Carew Mary Ojediran Adelani Ayeni Oludolapo Olodude PRINCIPAL BANKERS Natwe5t Bank PLC 80 Lewisham High Street London SE13 5JJ INDEPENDENT EXAMINER Pathway Accountancy Ltd Accountants 72 McLeod road Abbey wood London SE2 OBS SWORD OF THE SPIRIT MINISTrIES TRUSTEE'S REPORT FOR THE YEAR ENDED 31- MARCH 2021 The trustees are pleased to present their report for the year ended 315t March 2021 for the charity, SWORD OF THE SPIRIT MINIStRIES with Charity Number 10337769. The Trustees of the charity are= Bishop Francis Wale Oke Rev Olufemi O'tokunbo Oke Safiu Ibikunle Mobolaji Carew Mary Ojediran Adelani Ayeni Oludolapo Olodude The principal address of the charity is- Elevation Point 3 Herringham road Charlton London SE7 8NJ STRucfuRE, GOVERNANCE AND MANAGEMEpir The Charity governing document is a declaration of trust that was adopted on 11 February 1994. A board on which the trustees are represented governs the Charity. It meets regularly to review, plan activities and monitor the financial position. OBJECTIVES AND AcllvETIES The Objects of the organisation are to advance the Christian Religion lin accordance with the Statement of Fatthl throughout the world as the trustees may see fit from time to time. The trustees confirm that they have had due regard to the guidan￿ issued by the Charity Commission on public benefit before deciding what artivities the charity should undertake. ACHIEVMENTS AND PERFORMANCE The Organisation held successful services through the year in which individuals were equipped and educated on the principles and doctrines of the Christian faith. The church held several conferences to assist the development of the people in the comrnuntty. This has resulted in an increase of the membership of the congregation over the financial year. The organisation operates 6 different branches in the United Kingdom. SWORD OF THE SPIRIT MINISTRIES TRU5fEE'S REPORT FOR THE YEAR ENDED 31" MARCH 2021 FINANCIAL REVIEW The income of the charity is above £85.¢XKI. The costs have been managed over this period. The chority Is in good position to develop itself in the community- GRANTS POUCY The church seeks to donate at least IO% of its income to other Christian causes. mainly in West Africa and rest of the world. RESERVE POUCY It is the policy of the Charity to maintain unrestritted fijnds, which are the reserves of the charity at about 3 months of unrestrirted expenditure. This provides adequate funds to cover any emergency expenditure that may arise from time to time. The charity will seek to maintain this level throughout the year. RISK MANAGEMENT The charity has assessed all the major risk5 to which the charity is exposed to. particularly those related to operations and finances of the charity and are satisfied that system5 are in place to mitigate exposure to major risks. TRUSTEE RESPONSIBILMES Under the Charities Act 1993, the trustees are required to prepare a statement of accounts for each accounting year. which gives a true and fair view of the state of the church. They are required to.. l. Select suitable accounting policies and apply them consistently. Make judgements and estimates that are reasonable and prudent. 3. State whether the applicable accounting standards have been followed. 4. Prepare financial statements on an ongoing basis. They are responsible for keeping proper records. which disclose with reasonable accuracy the finances of the church at any time and to ensure that such accounts comply with the Charities Act 1993. They also have a reSF)onsibility to safeguard the assets of the church and to take reasonable Steps to detert fraud or other irregularities. Approved by the Trustees on the 28 January 2022 Signed on their behalf by= 5afiu Ibikunle Sigr)ature... samJYdrktrrfié'ipéif?." Trustee Meth&frrfY6pml Independent Examinerfs Report to theTrustees of SWORD OF THE SPIRIT MINISTRIES I report on the account5 of the church for the year ended 31st March 2022 set out on pages 6 to 10, which have been prepared based on the accounting policies shown on PaEe 8. Respecttve responslbilities of trustees and exambner The trustees of the church are responsible for the preparation of accounts= they consider that the audit ￿qUirement under section 14412} of the Charities Act 2011 (the 2011 Act), does not apply and that an independent examination is required. It is my responsibility to- Examine the accounts under section 145 of the 2011 Act to follow the procedures laid down the general dirertions given by the Charity Commission (under section 14515llbl of the 2011 Artl; and to state whether particular matters have come to my attention. Basis of Independent examinerfs report My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and any compari50n of the accounts presented with those records. It also include5 consideration of any unusual items or disclosures in the accounts and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be ￿QuIred in an audit, and consequently no opinion is Eiven as to whether the accounts present a 'true and fair Vie￿ and the report is limited to those matters set out in the statements below. Independent examinerfs Statement In the course of my examination. no matter has come to my attention; which gives me reasonable cause to believe that, in any material aspect, the requirements to keep accounting records in accordance with Section 130 of the 2011 Act- and to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the 2011 Act have not been met; or 2. To which. in my opinion, attention should be drawn in order to enable a proper ur)derstanding of the accounts to be reached. Roy Bello IMBA, AC4 FFA} Pathway Accountancy Ltd Accountants 72 McLeod road Abbey wo¢xl London SE2 085 SWORD OF THE SPIRIT MINISTRIES Statement of Financial Activities for the year ended 31st March 2022 Unrestritted Funds Total Funds 2022 2021 Incoming Resources from Generated Funds Note Voluntary Income Activities for generating fvnds 190,628 190.628 113,573 Total Incoming Resources 190,628 190.628 113,573 Resources Expended Charitable ActNities in furtherance of ObjectNes Cost of generating funds 3.717 3.717 4,569 Cost of activities 121.974 121,974 108,794 Governance Costs 1,350 1.350 I,i(x) Totsl Resources Expended 127.041 127,041 114,463 Net movement in funds 63587 63587 -890 Reconciliation of Funds Total Funds brought forward 56,302 56,302 57,192 For the year 63.587 63,587 -890 Total Funds carried forward 119,889 119,889 56,302 SWORD OF THE SPIRIT MIISTRIES BALANCE SHEEf AS AT 31ST MARCH 2022 2022 2021 Fixed Assets Note5 Tangible fixed asset 20 20 562 Trtalfixed ussets 20 562 Current Assets Cash at bank and in hand 121219 Total Current ossets Creditors: amount falling due within one year 121.219 56.840 Creditors & accruals 1.350 i.ItX) Net Current Assets 119,869 55.740 Net Assets 119,889 56,302 Unrestrirted Fund5 General fund Blf 56.302 57,192 For the year 63.587 -890 Total funds carried forward 119B89 56,302 SWORD OF THE SPIRIT MINlSfRIES NOTES TO THE Accoumfs FOR THE YEAR ENDED 31ST MARCH 2021 I. ACCOUNTING pouaES Accounting Convention The financial statements are prepared under the historic cost convention and in accordance with the Financial Reporting Standard for Smaller Entities leffective January 20151, the Charities Act 2011 and the requirements of the statementofRecommended PraLtice, Accounting and Reporting by Charities lissued July 20141 Incoming Resources Incoming resources are recognised in the statement of financial actr¥rties when entitlement has passed to the charity and the amounts are certain and measurable. Any incoming resources received that relate exdusively to future periods are deferred on the Balance Sheet. Resources Expended Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to specific headinEs. they have been allocated to activities on a basis consistent with the use of resources Grants Grants offered subject to conditions which have not been met at the yearend date are noted as commitment but not accrued as expenditure. Support Costs Support Costs comprise those costs that are necessary to delNer an activity but in themselves do not produce or deliver an activity. Support costs are allocated to artivities based on the direct salary costs of the activity compared with total activity salary costs Governance costs Governance costs are those costs incurred to meet statutory and constitutional requirement5. Fund Accounting Restricted fund5 represent income received that is subject to restrictions on use a5 detemiined by the donor which are narrower than the general objects. Designated funds represent funds set aside by the Trustees for specific purposes. General funds are those funds made available for charitys general objertS. Taxatio The charity is exempt from tax on its charitable actrvities Tangible Fixed Assets Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Fixed assets over £51XJ are capitalised and depreciated accordingly Equipment Fixtures and ffttings Motor Vehicles -20% on cost -10% on cost -20% on cost SWORD OFTHE SPIRIT MINisfRIES Notes to the account for the year ended 31st March 2022 Unre5trirted funds 2022 2021 2. Voluntsry Income Gift aid 2. Artivities for generating funds Mission 13.026 13.026 40,467 Erith IAbbey woodl 72.913 72.913 33,456 Charlton 73.064 73.064 Tooting 14.329 14.329 13,460 Ofpington 4.812 4.812 5.210 Northampton 12.484 12.484 20,980 Total 19),628 I￿,628 113,573 TOTAL FUNDS 190,628 190.628 113,573 3. Cost of Generating Funds Mission outreach 3.717 3,717 4.319 Benevolent giving 250 TOTAL 3,717 3,717 4.569 4. Tangible Fixed Assets Cost Instrument Equipment Total At 0110412021 6.212 24,691 30,903 Additions At 3110312022 6.212 24,691 30.903 Depreciation At 0110412021 5.743 24.598 30,341 charge for the year 459 83 542 At 3110312022 6,202 24.681 30.883 Net Book Value at 3110312022 io io 20 Net Book Value at OV0412021 469 93 562 io SWORD OF THE SPIRIT MINISTrIES Notes to the Account for Year Ended 3tst March 2022 2022 2021 5. Cost of Actlvities in fitrtherance of Charitys Objective5 Travelling expenses 1.750.CM) 885.73 Rent of halls, rooms & Off￿S 68.042.1XJ 62,1NNJ. Water & Electricity 2.163.99 825.48 Tithe Remission 5.802.58 Visiting speakers & musicians 1,370.IN) 3,200.00 Evangelism, ministry & publicity 3.717.03 6.994.04 Bank charge 1,616.37 Honorarium 3.750.(K) Internet 187.lJ) Cash Machine 656.40 Mission expenses 6,771.15 2,676.00 Subscription 859.IK) Software 2.040. Office equipment expensed 655.73 Office repairs 1.669.96 Meetings and conference5 924.86 274. Vehicle expenses 5.308.63 420.(X) Depreciation 542.1X) 2,280.00 Music services 370.IM) 14.(Kl Printing, postage & stationery 1.636.56 332.83 Salary 2.276.56 15,606.06 li Professional fee 4.319.94 Welfare 11,334.(K) 8,635.22 Utilities and telephone 2,247.05 287.40 Refreshments 43.21 TOTAL 125.690.87 108,793.91 6. Governance Costs Accountancy fee Legal fees 1.350.(K) I,ioo.00 1.350.00 i.100.00 Creditors: amounts falling due within one year 7. Creditors Accountancy fee HMRC 1.350. 1,100.00 1,350.IK) i.100.00 12 ## **Issuer** **Issuer** Pathway Accountancy Ltd **Document generated** Thu, 9th Feb 2023 16:24:19 UTC **Document fingerprint** 1eda01c5ed7e961ce9cdf7bc57b9071a ## **Parties involved with this document** ## **Document processed** ## **Party + Fingerprint** Thu, 9th Feb 2023 18:03:39 UTC Safiu Ibikunle - Signer (a40c2f99a0116ba0ca926d86b802ce37) **Audit history log Date Action** Thu, 9th Feb 2023 18:03:39 UTC The envelope has been signed by all parties. (105.112.209.121) Thu, 9th Feb 2023 18:03:39 UTC Safiu Ibikunle signed the envelope. (105.112.209.121) Thu, 9th Feb 2023 18:02:50 UTC Safiu Ibikunle viewed the envelope. (105.112.209.121) Thu, 9th Feb 2023 18:02:42 UTC Safiu Ibikunle opened the document email. (87.248.116.78) Thu, 9th Feb 2023 17:59:58 UTC Safiu Ibikunle viewed the envelope. (185.34.83.66) Thu, 9th Feb 2023 17:58:32 UTC Safiu Ibikunle viewed the envelope. (185.34.83.66) Thu, 9th Feb 2023 17:55:05 UTC Safiu Ibikunle opened the document email. (87.248.116.78) Thu, 9th Feb 2023 17:53:34 UTC Safiu Ibikunle opened the document email. (87.248.116.78) Thu, 9th Feb 2023 16:55:08 UTC Document emailed to kibikunle@aol.com (35.176.83.252) Thu, 9th Feb 2023 16:55:06 UTC Sent the envelope to Safiu Ibikunle (kibikunle@aol.com) for signing. (185.34.83.66) Thu, 9th Feb 2023 16:52:56 UTC Safiu Ibikunle has been assigned to this envelope (185.34.83.66) Thu, 9th Feb 2023 16:24:32 UTC Document generated with fingerprint 1eda01c5ed7e961ce9cdf7bc57b9071a (185.34.83.66) Thu, 9th Feb 2023 16:24:19 UTC Envelope generated by Roy Bello (185.34.83.66)