Charity Number: 1034870
CHRIST GOSPEL CHURCH INTERNATIONAL
INCOME AND EXPENDITURE STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
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CHRIST GOSPEL CHURCH INTERNATIONAL
Reports and Accounts
| Contents | |
|---|---|
| Page | |
| Administrative Details | 3 |
| Independent Examiner's report | 3 |
| Trustees Report | 4 |
| Statement of Financial Activities | 6 |
| Balance Sheet | v4 |
| NotestotheAccounts | 8 |
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CHRIST GOSPEL CHURCH INTERNATIONAL
ADMINISTRATIVE DETAILS OF THE CHARITY AND ITS TRUSTEES
Board of Trustees
Mrs Tolulope Omorere Emmanuel Obigba Vida Anyanwu James Obi Pamela Omorere
Principal office address
28-32 Ellingfort Road Hackney London E8 3PA
Accountants Nuama & Co Chartered Certified Accountants 102 Mitcham Lane London SW16 6BNR
Bankers
Barclays Bank plc 22 The Mall Stratford London E15 1XJ
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CHRIST GOSPEL CHURCH INTERNATIONAL
Report of Trustees The trustees present their report and accounts for the year ended 31 March 2021
The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities (Revised 2005) in preparing the annual report and financial statements of the charity.
Objective of the charity as laid down by the Trust Deed The Core objects of the charity continue to be:
- 1 To establish churches, ministries and community events 2 To organise conventions, conferences and seminars 3 To carry out missionary activities and 4 To promote festivals, celebrations and exhibitions.
REVIEW OF ACTIVITIES AND FUTURE DEVELOPMENTS
The statement of financial activities is set out on page7 of the financial statements. A snapshot of the
financial results is set out below:
Income Generation
The main source of income is from tithes, offerings and donations from members and from the gift aid system.
Investment Policy At present the Trustees have decided to leave all surplus funds in the account with their principal bankers.
Fundraising Activities
The charity relies solely on contributions from its members and gift aid. The charity does not employ any professional fundraising bodies.
Restricted Funds
There are no restricted funds operated by the charity. All funds are available for use at the discretion of the Trustees.
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CHRIST GOSPEL CHURCH INTERNATIONAL
Reserves Policy The Trustees have decided to spend as much money as possible on furthering the core objects of the charity whilst maintaining sufficient cash funds to ensure the sustainability of the charity.
Review of charity activities The charity has continued fo undertake activities in line with its objectives and has seen growth in giving to its work.
Governance and Internal Control Appointment of Trustees are done by the existing Trustees with consultation of the view of the church members as to trustworthiness of each person.
Risk Assessment The Trustees consider the key operational, financial and stategic risks that may have a bearing on the activies of the charity. Suitable management information is available to the Trustees on a regular basis to monitor these risks and allow any mitigating action to be taken to address them.
Trustees’ Responsibilities Charity law requires the Trustees to prepare financial statements for each financial year which give true and fair view of the state of affairs of the charity and of its gfinancial activities for the yaer.
In prepararing those financial statements, the Trustees are require to: 1 select suitable accounting policies and apply them consistantly; 2 make judgements and estimates that are reasonable and prudent; 3 state whether applicable accounting standards and stements of recommened practice have been followed, subject to any departures disclosed and explained in the financial statements: 4 prepare the financial statements on the going concern basis unless it is inappropriate to assume that the charity will continue in operation.
The Trustees are reponsible for keeping accounting and financial records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comploy with the Charities Acts 1993. They are also responsible for safeguading the assests of the charity and hence for taking reasonable steps for the prevention and detection of fruad or other irregularities.
The report was approved by the Board on the 24 January 2022 and signed on its behave by
Mrs Tolulope Omorere
Trustee Chairperson
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CHRIST GOSPEL CHURCH INTERNATIONAL
| report on the accounts of GOSPEL RESTORATION CHURCH for the year ended 31 March 2021, which are set out below:
Respective responsibilities of trustees and examiner
As the charity's trustees you are responsible for the preparation of the accounts, you consider that the audit requirement of section 439(2) of the charities Act 1993 (the Act) does not apply. It is my responsibility to state, on the basis of procedures specified of the General Directions given by the Charity Commissioners given under section 43(7) (b) of the Acts, 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 the review of accounting records kept by the charity and a comparison of the accounts presented with hose records. It also includes 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 will be required in an audit, and consequently | 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 gives me reasonable cause to believe that in any material respect the requirements of
To keep accounting records in accordance with section 41 of the Acts, and To prepare accounts which accord with the accounting records and to comply with the accounting requirements of the Act.
Have not been met:
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2) To which, in my opinion, attention should drawn in order to enable a proper understanding of the accounts to be
reached. j ®
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Nuama & Co
Chartered Certified Accounts 102 Mitcham Lane London SW16 6NR
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CHRIST GOSPEL CHURCH INTERNATIONAL
STATEMENT OF FINANCIAL ACTIVITIES (INCOME AND EXPENDITURE ACCOUNTS) FOR THE YEAR ENDED 31 MARCH 2021
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|||||||||
|---|---|---|---|---|---|---|---|
|UNRESTRICTED|UNRESTRICTED|
|FUNDS|FUNDS|
|2021|2020|
|NOTE|£|£|
|INCOMING|RESOURCES|
|Tithes,|gift aid|and|similar|income|resources|85,785|65,902|
|TOTAL|INCOMING|RESOUCES|85,785|65,902|
|RESOURCES|EXPENDED|
|Charitable|activities|58,535|52,083|
|Governance|costs|9,689|4,196|
|TOTAL|RESOURCES|EXPENDED|68,224|56,279|
|MOVEMENT|IN|TOTAL|FUNDS|FOR THE YEAR|-|
|NET|INCOME(EXPENDITURE)|FOR THE YEAR|17,561|9,623|
|TOTAL|FUNDS AS AT|1|APRIL|2020|15,004|5,381|
|TOTAL|FUNDS AS AT|31|MARCH|2021|32,565|15,004|
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CHRIST GOSPEL CHURCH INTERNATIONAL
BALANCE SHEET AS AT 31 March 2021
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Notes 2020 2019
£ £ £ £
FIXED ASSETS
TANGIBLE FIXED ASSETS 4,000 ~
4,000 -
CURRENT ASSETS
Deposits and Cash at Bank —_33,880 15,318 |
33,880 15,318
LIABILITIES
Creditors: Amounts falling due within one year (5,401) ___ (400)
Net current assets 28,479 14,918
TOTAL ASSETS LESS CURRENT LIABILITIES 32,479 14,918
CHARITY FUNDS
Unrestricted funds 32,479 14,918
TOTAL FUNDS/(DEFICITS) 32,479 14,918
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We approve these accounts which comprise the Receipts & Payments, Statements of Assets & Liabilities and related notes. We acknowledge our responsibility for the accounts, including the appropriateness of the accounting basis as set out in note 1, and for providing all the information and explanations necessary for their compilation.
Sand 662... 25/ar/a0> Trustee Dated
Trustee
Dated
On behalf of the Charity
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CHRIST GOSPEL CHURCH INTERNATIONAL Profit And Loss Account
For the year ended 31 March 2021
| Profit And Loss Account For thethe year ended 31 March 2021 |
||||||
|---|---|---|---|---|---|---|
| 2021 | 2020 | |||||
| £ | £ | |||||
| Income Gift aid Tithe& offerings Total income |
11,360 74,425 |
85,785 | 12,581 53,321 |
65,902 | ||
| Expenses Accountants fees Bookkeeping Books |
400 150 550 |
400 150 29 |
||||
| Depreciation Donations Honorarium Insurance |
1,000 7,500 7,500 1,144 |
- 5,500 4,838 455 |
||||
| Missions | 4,400 | 2,880 | ||||
| Motorexpenses Music Rent Repairs & maintenance Stationeryand printing Sundry expenses Travel and subsistence |
- 3,240 16,000 4,023 4,021 4,114 1,509 |
3,356 5,215 14,075 2,352 3,223 1,294 977 |
||||
| Wages and salaries Welfare Total expenditure |
4,500 8,173 |
68,224 | 3,700 7,835 |
56,279 | ||
| Surplus/(deficit) | 17,561 | 9,623 | ||||
| Fund balance b/fwd Fundbalancec/fwd |
15,004 32,565 |
5,381 15,004 |
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CHRIST GOSPEL CHURCH INTERNATIONAL Notes to the financial statements for the year ended 31 March 2021
| 4 | TANGIBLE FIXED ASSETS | |||||
|---|---|---|---|---|---|---|
| Furnitue, fitting | Total | |||||
| and equipment | ||||||
| E | £ | |||||
| 2 | COST | |||||
| At 1 April 2020 Additions |
- 5,000 |
- 5,000 |
||||
| As 31 March 2021 | 5,000 | 5,000 | ||||
| DEPRECIATION | ||||||
| At 1 April 2020 Charge fortheyear |
- 1,000 |
- 1,000 |
||||
| As 31 March 2021 | 1,000 | 1,000 | ||||
| NET BOOKVALUE | ||||||
| As 31 March 2021 | 4,000 | 4,000 | ||||
| As 31 March 2020 | 5,000 | 5,000 | ||||
| STATEMENT OF FUNDS | ||||||
| BROUGHT FORWARD |
INCOMING RESOURCES |
RESOURCES EXPENDED |
CARRIED FORWARD |
|||
| E | £ | E | a | |||
| Unrestricted funds General funds |
15,004 15,004 |
- | 85,785 85,785 |
(68,224) (68,224) |
15,004 17,561 32,565 |
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- ACCOUNTING POLICIES
CHRIST GOSPEL CHURCH INTERNATIONAL Notes to the Accounts for the year ended 31 March 2021
Basis of accounting The financial statetements are prepared in accordance with applicable accounting standards
using the Historical Cost Convention. The financial statetements reflect the requirements of the revised Statement of Recommended Practice "Accounting for Charities" (SORP). The Charity complied with best practice at the time of preparing these accounts.
Tangible Fixed Assets All fixed assets are capitalised. The charge for depreciation is calculated to write off the cost of the fixed assets over their useful lives on the following bases:
Equipment 20% on the reducing balance Motor Vehicles 25% on the reducing balance
GENERAL These Accounts have been prepared on the receipts and payments basis and in accordance with applicable Accounting Standards and the Charitable SORP. (Statement of Recommended Practice on Accounting by Charities).
Income Income is accounted for on accruals basis, except for donations, which are credited when received These represents gifts, donations, tithes, offerings, pledges, Gift Aid and bank interest given to the
- 2 Charitable Donations & Gifts to Missions These represent amounts given to various individuals, organisations and other charitable trusts. Honorarium to visiting speakers and remittances for missionary work.
Expenditure All expenditure is accounted for on an accruals basis. Resources expended on charitable activities comprise all the resources applied by the charity in underkating its work to meet its charitable objectives. These costs include the direct costs of the charitable activities with those support costs incurred that enable these activities to be undertaken. Expenditure on governance costs are the costs incurred by the charity to operate and to generate the information required for public accountability.
Funds The charity's funds are unrestricted and are available for use at the discretion of the Board of Trustees.
Board of Trustees Remuneration and expenses No remuneration directly or indirectly was paid or payable out of the funds to any of the Trustees for their duties as trustees.
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