Charity registrnion number.. 1046586 CHRIST VICTORY CENTRE INTERNATIONAL Ant)ual Report and FInatal Stat¢ments forthe Year Ended 31 December 2020
CHRIST vicfoRY CENTRE INTERNATIONAL Contents Referenfje atKI Administtaiiv¢ Details Trustees, Rert 2to4 Statemeni of TrUees, Responsibiliiies Independent Examiner's R¢p)rt Stat¢m¢nr of Financial Activities B8]an¢¢ She Notrs io the Financia] sements 91018
CHRtST VICTORY CEIITRE ITERNATIONAL Reference attd Administrative Details Chaimart Ola Oshodi Trusiees Jenrola Makinde Ola Oshodi Ms Selina Ola Ade)'anju Joseph AglxK)la Ch#rii)' RegistrAtion Number 1046586 Principal Office 30 Hook Cl95¢ C0s5all ESe Peckhatn London SE15 ?TP Ind¢p¢fjdent EAarniner Kalomart & Co Accountants First Floor ? Market Place Bernionds¢ Lx)Jdo SE163UQ Page I
CHRIST VICTORY CEI%TRE ITERNATIONAL Tru5tees' Report The mistees preseni The annual rerrf)rr gether with financia] 5taternents of the chariry for tht ytAr tnded 31 LkcembeT 20?0. Obje¢tives and #divilies Objects 4nd4ims By way of interprdin8 our fjnanciai accounts in )O?O. our Balan¢¢ Sh¢¢¢ shrank Margi[11. which tneans lesser incotnc from lower tithes pal'meni and lesser tunds raising as ell as lotr collections. Obviously. the ¢noMiC downrnrn also added an impact io ihai decline generall).. While some of us remain highl} ¢omrnilled to push ihis Church fOrn4d in tems of progress. others need io be encourdged in a m(Kie of moiiiaiion to e.Kplor¢ mor¢ exploits for th¢ Lord in tht ll¢. Near Members of the Board are responsible io members and other interested parti¢5 for the overdll governance of the Church. As the Chureh is a registered charii%. members of the Ixwd are ChaTit) Tru51ees. Thej 8eek ensu that the Church operdtes so as io lfIl the obj¢¢iikes seT oui in the TTUSt Deeds and ihai due atteniion is paid to ¢harii>' law and oih¢r relei'anr leoislation. The rol¢ of the Board is TO esthlish the sirdteqic direction ofthe Church. io provide leadership. and to ensure that charitable fund5 are properl) utilised and safeguarded. The da> io da). opeE2lional manag¢ment of the Church is delegatrd to ihe Resideni P&sior.'Reverend and throuoh her to th¢ Church members. The Board. however. retain5 fortnal resw)nsibility' for ail liCie& dlS1on$ and a¢iions of the Churrh. Objettives, strniegies 4wd4¢1iviiies All Church affliviiies remain the sam¢. Mid-meek meetings 8ThJ monthly spe¢ial prayer programs are all well attended. We would like io draw attention to on¢ arra of our affliviiies and th& is Mondav -Pray¢r Warriors" progra which focuses on praver of intercession for our Kaiion. Grvdi Britsin and oihtr Naiions around the world for peace and change5 in the economic situ10 arowid th¢ tsrId. On Wednesda)s thtre are .0 praNer sessioThs. Thes¢ are online starting %lIh Prdyer of Aurnali¢ Answers at 9am. This is dedicated to prd%ing for l¢xal businesses for success. In ihe ei'etking w¢ condua PrayerLine: an tntersessional pra%eT for anyone in ih¢ co¥nmunii% needin8 prd%er and spirii¢Jal adiic¢. W¢ also have online presen¢¢ liv¢ 00 F4rgbook for Sunda). Ser%'ic¢s. seminars etc. The >¢w 15 atmchcd..
CHRIST VICTORY CENTRE INL TERI%ATIONAL Trustees. Report Pwbllc benefii Chur¢h leadership training As an essential part of the %'ision of rhurch. atteTriton has bttn focused recenilv on trdining of church lead¢rs during ?O?O. Sunda) s¢h(x)I teachers, Hous¢ group and small group leadeT5. such 8$ Bible 51ud) lead¢rs. and discipleship leadeTS. Mosi leader5 recenil! attended an iniensiKe one-week leadership Irdinins externally. L¢aders and meTnbers are encourdge to tsk"e part in Preveni training a[ certification. Prevent training is meani to alen leaders and eweri other member to the t)SsibilI11es Of--i01en1 extrefftism-. Youih Progratn5 Our youth and young ople are alloMtd w participate in th¢ actiiTrties of the ehurch. They are encouraged 10 condua series of activities under ihorough sup¢rision. Ordination There an Ordinlon of thrtt pasiors. one deacons and evangelists during the year, and we planned to ordain and apwini some tnore In ihe laership P05jTiOI). Donaiion and Pledges Members continued to give support noi onl>. morally but also financhall). b) th¢ church despite the ewnomic situation. Public benefit The church aciivilies and weekly programs ar¢ still ihe same Mith dillon of online broadts. Attendan¢e on Sundaj Services and wttk5}' activities have been ver)" en¢ouragin8. Youth Bible Stud) group is progreIftg ver). well with dedicawl PaSr In charge aThJ ste1]Y they are 8rowing Our Yoyihs church services aod activiiics were ver). encoLraging. Il'e do this ever)" yetr to encourag¢ and grow their confidence. l. Th¢ir involvement in¢lud¢s Bible STLHIY evetv Sunday morning and online on SatLwday aftern(x)n. This Bible stsjd! 15 design to help our l'outh to groth in the k[m)ledge of G(Ml w lovt God and their neighlK)ur and to undeTSi8nd their r(>l¢ in ¢be socith or communilj. 2. Ytsuth choir and children Choir able lead¢rs leading the group. This is foc8 ihe attertiion on wh tslent they have. 3. Personal Evangelism is sharing of the gospel with other )'ouths. These activiiie5 are grOang sieadil!" All ihe weekl>. actLViILes io encourag¢ ail the members are progressing arml the att¢ndance is very encouraging. DuritLS Eh¢ yrar wr had bapiisIJial clas5C5 wple ihe bllpiismal whiGh wll tske place in the followiiJ8 year. Overseas Missions The foreign mL55ion has been slowed down du¢ kn finaneial constrained and have TK>i been able io do mu¢h. We ¢wreThLly send aids io our NigeriaTh brdllch Mith donated i*ms from members in Lk. Trustees and offrttrs The trwstres and officeTS servirtg dLErin8 the year and sinc¢ ihe year end were as follows: Ttees. Jenrola Makind¢ Ola 05hthJi Ms Selina Ola Ade)'anju Joseph A8boola Page 3
¢wb flo. Dr Ola 08IKMli- 1r of Board of Thtee5
li<ébk l&w r¢8u]a 8ive a true and fAir view of th¢ •tst¢ of AffAiT8 of th¢ ¢barity •NI of in¢ow thd •ppli¢thon of tir Oia (i8both- Cbair of Board of Trustees Pag¢ S
CHRIST VICTORY cETRE I.NTERNATIOL%AL Independent Examiner's Report lo the trnsteos of CHRIST VICTORY CENTRE INTEILPATIO)AL I repon io the irustees on m) examin&ion of the accoun of CHRIST VICTORY CEN.TRE INTERNATIONAL for the year ended i l December ?O?O. Responsibilities and basis of report As the charit>. trustees of CHRIST VICTORY CEX'TRE IXTEIiNATIOXAL you ore responsible for the prwrarion of the accounts in xo)rdance with the requirements of the Chariii¢s Art 2011 1.the Act'l. I report in respect L)f my examination of the CHRIST VICTORY CEXTRE INTERNATIONAL'S accounts carried Qlrt under section 145 of the ?01 l Act and in oming oui MN" eAa¥ninaiion I hai"e followed all the applicable Direaions oiv¢Th by the Chariiy Commission under section 14515Xbl of rhe Aci. Independent tX¥4Thiner'$ statement I have completed my examination. I ¢onfinn th no material rnatters have come my attention in ¢onne¢tion th the examination givin8 me caw believe th• in an). Materi Fespeth.. l. accouniing record5 were noi kept in resra of CHRIST VICTORY CENTRE INTERNATIONAL &% quired by section l JO of the.4a= or 2. the accounts do not accord with those records: or 3. the a¢¢ounts do noi Comply 1th the accounting requiremenLS concerning ihe forni and wnient of accounts set out in the Charities (Accounis and Rewrtsl Regulation5 )008 other than any requiremeni ihat the acut5 sive a -true and fair le. which is Th)1 a matter cort5idered part of an indep¢ndeni examinatLOn. I have no concern5 and ha%'e come acr()ss no other mauers in connection kniih the examination io 'hiCh aen110n $l*)uld be drawn ill ihis feFQrt in order tsi enable a proper und¢rstsnding of th¢ a¢¢ounts ui be reached. Marrin Nsiah BA FCCA Exiernal Examin¢r Kalomart & Co Aceounthnt5 Firsi Floor 2 Mark'et Place Bemiondsev London SE163UQ 8 Sepiember ?0?2 Page 6
CHR15T VICTORY cETRE INTEILNATIONAL State¢llt of Financial Activities for the Year EDded 31 Deeember 2020 Total 2020 Totsl 2019 Lnrestrirted Restrirted Intome and EndowmeDts from- tknnations and legacies h¢r trading actil'ities Investment inwme Other income •4.545 1.0?5 25.570 32.045 6.758 25 6.393 6.393 7,930 Total inc4)me 30.96i 1.0?5 31,988 46,784 Expenditre on: Charitable activiiies her expenditure 128.680} 11.9iOI (S.9) 137.5801 .930 123.9721 4.317 Total expenditure 30.610 39.510 128.289 Nei movement in funds 17.8751 17.5?2 18.495 Reconeiliation of funds Totsl furHls bwughl forward 160.933 51.661 212.594 194.099 Toral funds carried forward 18 161 ?86 4i.786 05.07? ?12,594 All of the ch8rit>'s aaivities d¢tive from coniiThuing opernions during th¢ a0ve periods. The funds break.dow foi 2019 is showm in wt¢ 18. The noies on pages 9 to 18 fonn an Integr part of these fitWKia] 5tatemenrs. Pase 7
CHRIST VIoRy CEwfRE ThTERNATIOP4AL (Regtstratlon Dumber: 11146586) Balance Sbeet u at 31 De¢enther 2020 2•20 2019 N•)ts T8D8ible 888ets 13 437.058 445,821 Cllrrent 8Mets 14 15 OJ93 7.930 65 53 73.183 Cash at botsk aDa iti 74 Credlton: Atyounts fAlllng dll¢ wlthts ome yur 16 750 5(Kl Total sMts leu enrrent Mabllld 498.6 518504 Credltors: f•]Uni dry¢ After than •• ye•r 17 293 610 Net asscts 212 Funds of the eharlty: Restrl¢t¢d Ineome faj 43.786 51.661 Unre•trleted Ine4me fllDd# 161 Total fujds 18 21 September 2022 and gi8 on their behalf ty. Dr Ola Oshodi- Cbair of B0d of Tn The notrs on paw 9 to 18 form an int¢ pth of tlme fina1 ststements. Pa8e 8
CHRIST VICTORY CENTRE INTERATIONAL r4otes to the Financial St4¢ement$ for the Year EDded 31 December 2020 l Accounting wblicies Statetnenl ofeornplianet The financial statements haw¢ been prepared in accordance "Ith the Second edition of the Chari¢i¢s St¢meni of Recommended Practice issued in (kiob¢r ?019. the Firwicial Re)rting Swidard applicabl¢ in th¢ bniied kingdom and Republi¢ of Iland IFRS Ioty) and the Chariiies .4ci ?0 I l. B9515 of preparation CHRIST VICTORI. CENTRE tNTERN.4TIONAL meets the definition of a public benefit entitv under FRS 10? The COUnts IfJTwi¢iJ siatemenisi ha%'e been prepared under the hIor1¢al cosi convention with it¢ms recognised at cost or transaction value Wlless otherwise $ed in the relevant tKFidsl LO th¢se accounts. Exemption frorn preparing a rasb llow $tiemei The chariiy opted 10 earl} adopr BulletiD I published ort ? Febnjary ?Ol6 and have therefore not ancluded a cash flow ststement in these financial statrmens. Going eoneern The irustees wnsider thai ih¢r¢ ar¢ rm) marial unccrtainiies alx)ui the charity's ability io Continue as a going concern. Income and endowments Voluotary in¢om¢ Includino donions. gifi& leqacies and grdnt5 Ihat prolJe Core funding or are of a general nature 15 recosnised the rharit). has entitlement io the Income. it is probable thai the income will be received and the aK)Unt can be measured with sufficieni rtliabilit).. Donalions IarIa t)onations and legacie5 are recogni5ed on a receivable basi5 hen receipi is probable and the amount can be reliabl)" measured. Grnnts receivable Grnnis are recognised hen the Charity has an eniiilemeni io th¢ funds and anv NIlLiOnS link¢d to th¢ grants have been mei. 11 here performance conditions are attached to ihe £rdnl and are to be rnet. the incotne is recognised &$ a liabiliry and includcd on ihe balance 5hcet as deferred iTKome to be releastyj. JUStent income Dividetids are rttogni%d once the dividend h&s been declared and rK)tification has been received of the dividend due. Exppnditure All expendiiure is recognised once iheTe is a lega] or ¢OnSTni¢tive obligation to that expendilure. li is probable settlement 15 TeqUIT and Ihe arnounT can b¢ m¢asur¢d t¢liabl!. .411 eosts ar¢ allo¢aied to the appli¢abl¢ expenditure heading that aggreJre similar costs io ihai ¢ategor)_ Il'here costs Cannot be directly attribuied to particular headings rh¢! have been alliKat¢d on a b&si5 consi5reni wilh ihe use of resources. WEh eentsal staff costs allocai¢d on ihe basis of lime spenT. and d¢pr¢¢i•ion ¢h8rges all(ed on the w)nion of the as'S use. (hher support costs are allo¢ed bwd the spread of costs. Pag¢ 9
CHRIST VICTORY CF.NTRE Ef*TERNATIOYAL Noles to the Financial Statements for tbe Year Ended 31 Deeember 2020 Ciwitable expenditure compri5¢5 tIK>S¢ co in¢uTr¢d bs" the charity in the deliver). of its acTlVlties and seJvic¢s for its beneficiaries. It includes tK)th eosts can ailoLZted directly to such a¢tiviti ond those cosis of aTh indirect nature necessary to supp)rt them. Support eosts Suppx)rt ¢osis include centrdl function5 and have been allated aaivity. cost Categories on a basis Consien1 with the use of resour¢¢s. for example. all[KIng properiy costs b) floor are&s. or per capit4 staff costs by the time spent and other c5 by iheir usage. The charity is considered to pass ih¢ iesis out in Pardgraph I S¢hedul¢ 6 of the Finance Acl ?01 O and therefor¢ it meets the definition of a charitsble wmpani for LK COTwraiion t&x purposes. A¢wrdinglN', the charit). is px)tentiall>' e¥emw fTOrn taNaiion in res1 of income or capi] gains re¢¢i&¢d lth1n categories covered by Chaprer i Part I l of the CO[)ration T&x A¢t ?010 or Seciion ?56 of the Taxation of Chargeabl¢ Gains Aci 1991 io the extent that such income or gains are applied exelllsi¥el> io charitsble purposes. Tlngiblt fixed assrfs Individual fixed &%sets costing £O.(K> or more are inttÉallN' Tttordoj * COSL less any subsequent xcutnulthd depreciation and subsequent accumulaied impainneni losses. Depreciatitsn and amonisation tkpreciaiion ss proN'idtd on tangibl¢ fix¢d assets so Ls W WTitc off the Cosi or valuation. less any estimated residual value. over their expe¢t¢d useful ecO[mie life as follovis.. Trade debtors Trade debtors are amounts due from customers for muchandise ld or seryices perfornied in the ordinary course of business. Trade debtorg are recognised initially al the ttransartioTh priee. They are subsequently measured at amortised Cost using the effective iniere5T m¢thtyJ. less pro%'ision for impairniem. A provision for ihe impairment of trade debtors is esthblished w'hen there is obje¢ti&e ei'id¢rt¢¢ thai the charity. M'ill noi be able ro eolleet all amourtts due accordin8 to the original iernis of ihe receivables. Cash #nd c4$h equivaknts Cash and cash eqUial£At$ comprise cash on hand atKI call dewsits. and other short-i¢m highly liquid invesiments ihat ar¢ readily ¢ortvertible io a krM)wn amount of cash and are subj¢¢i to an insignifJ¢ant risk of chanse in value. Pagelo
CHRIST VICTORY CENTRE IwfEILNATIONAL Nol¢s to the Financial Statetnents for the Year Ended 31 December 2020 Borrowings Int¢r¢si-beaTing borrowings are iniiiajly recorded at frdir value. nei of transaction c4Jsts. Ini¢st-bedrInS borrowings are subsequentlv carried at amonis¢d ¢OSL i¥iih the differenee beNeen the procttd5. nei of transa¢¢ion costs. and the amount du¢ on redemption bein8 recognised as a ¢harge to The Statement of Financial Activitie5 ovcr the period of the relevant kntrowing. Interesi expens¢ is recognised on the b&sis of the effective irttere mdhod and is included in inlerest payable and similar ¢harges. Borrowings are cla8sifi¢d as Curreni liabiliiies unless the ¢haritw has an uncondiiional right to d¢fer settlement of th¢ liability for at le&si iwelv¢ monihs after th¢ reportin8 de. Fund structure i)rtstrIcted Income funds are ¥Teneral funds ihat are alIable for use * the trusttts's discwion in furtherance of the objectives of the chariti. tksig]Vdted funds are unresrricied ndS sd aside for srttific purp)ses at the discretion of the irusie¢s. Resiriffled income funds are Tho% doned for use in a parti¢ular area or for specifjc purposes. the use of which is r¢stri¢ted to th area or purpose. Financial in$truments C14ssificloft Financial assets and financiaj liabilities are recognised when the charity becomes a pany the contractLE provisions of ihe instrument. Financia] liabiliiies and equiN are clwified a¢¢ording io the substance of the ¢ontractuaJ arran8emenis entered inio. An equii) instrument is an) lh eviden¢¢s a r¢sidual initrest in the assets of the charity afier deducting all of its liabilities. Recognition ereoi¢ All fitw¢ial a55ets and liabilities are iniliall). Measured tr2lls2a¥on price lincludtng tr2nsaction costs). excepi for thos¢ financial a55ets classified as al fair aluC through profil w loss. Mhich are lniliall measured fair value Iwhi¢h is T)0mlI the trdnwiion price e.xcludino transafflion co$). unless the arrangement constitutes a rjnancing transaction. If an arrdngem¢nr consi11e5 a fjnaneing uartsaaion. the financial a55et or financial liabilitv is measur¢d at th¢ present value of the futur¢ payments diseounied w a markei r of interesi for similar debi instrument. Finartcial a5set5 and liabilities are offset in ihe sraiemenT of financial tM)Sition h¢. and onlj when iher¢ exists a l¢gallY enforceable rioht to s¢t off ihe recognised a]Th)unts arml the chariry intends either to Settle on o basis or to rtali5e the &sset and s¢ttle the liability skmultsneously. Financial asseis are dere¢ognised when and onl)" hen al the ntracTUal rights ihe cash flows from the fia)an¢ial assd ¢¥pl or are settled. bl th¢ chariTh irdnsfers to attoTher parry 5ubsthntially all of the risks and rewards of onerShip of lh¢ fLnaThcial &SS¢L or ¢1 The charity. despite having rethined rne, bui Mt all. significant risks and reward5 of ow11P. has transferred control of th¢ asset ts) another party. Financial liabiliiies are derecogni5ed onl) when ihe obligation specifi¢d in the ¢ontr&i is discharged cancelled or expires. Pagell
CHRIST VICTORY CENTRE I.NTEILNATIONAL Iyotes to the Financial Statements for the Year Ended 31 December 2020 De in51rnnnts Debt instTu¥nents which mttt the ftslloing ¢0[ltionS art subsequ¢nily measured * amonised cosi using th¢ effedive ini¢r¢si method: (al The contractual return io the holder is lil a flxed atnouni: lill a p)siiive fixed 1¢ or a p)siiive variable tate: or liiil a combination of a p)siiive or a negativ¢ fixed rdte and a wsi¢iie I'ariable Me. Ibl The contract mas. proNide for repas'Tnenis of the principal or ihe remrn to the holder Ibui not bothl to be linked to a 5ingl¢ relevant obseTvabl¢ index of 8eneral pn¢¢ Inflation of the Cu¢¢>. ITh wthich the debi instsvmeTrt is denomina*d. providtd 5u¢h links ar¢ tmm leveraged. Icl The conirdci maj provide for a deiemlinable vari10n of the reiurn io the holder durino the life of the instrument. pro%."ided th lil Ihe new rate saiisfles Cotllion lal ar the variation is noi conlingent on future event5 Other than I I l a change of a ¢ontractual variable rate: i_l to proieci ihe holder against Credit deierioration of the issuer; 131 changes in levies applied bv a ceniFaJ bonk or arising from ¢hang¢s in relevant wtion or law; or lill th¢ new rate is a markei rate of inieresi and saiisfi¢s condition lal. Idl There is no conirdctual PTOi'ision th wul(L bv its tern)s. resuli in the holder losing ihe principa] amouni or any inieresi attribuble TO the current peri(KJ ot prior periods. lel Contraciual provisions that pennit th¢ issuer to prtpaj a d¢bi instrument or pernlii the knlder to put it back to the issuer before matyrity are noi contingeni on future elents. oiher than Lo proiect the holder against the CTedil deteritsTation of the issuer or a ¢hang¢ in control of th¢ issuer. or io proiect ibe holder or issuer agwnst Changes in levie5 applied b> a eentrdl bank or arising from chan?e5 in relevani ttxaiion or law. (fi Contrafflua] provisions may pennii the emension of ihe ierrn of ihe debi it)strumenL providtyj that the to the holder and any other contra¢nl provisions applicabl¢ during the extended ierni satisfy the conditions of paragraphs lal to {¢1. Debt tnsmjmenis tha( ate classified as pa!abl¢ OT re¢ei%'able within one Jear on initial recognition and wh¥¢h m¢et ihe above conditions are measured ai the u115¢01ed anxTrunt of ihe cash 01 other consideration expected to be paid or received. net of iMpairnn1. With the exception of some hedging Instrumen oth¢r debt instruments rH>t tn¢¢titb8 these Conditions are measured at fair value through profit or105S. Commitments to make and receive loans Ithich ihe Conditions mentiotd atrf>ve are Me&sed at cost {whieh ma). be nil) less impaiment. Jnveslmenls Investment5 in non4onvenible preference shares and non-punable ordinarv or preference share5 Iwhere shares are publicly traded or Ih¢ir fair value is reliabl% measurable) are measured 3¢ fair ialue ihrou8h profit or ltsss. Where fair value ¢ant)ot be measured reliably. Inw¢sthienis are measured at Cosi l¢ss impairn]ent. Investments in subsidharies and asso¢i¥es are measured ai cosi less impainnent. For inNestm¢nis in subsidiaries acquircd for considerdtion including the issue of shares qualiAing for merger relief. Cost is m¢asured by reference io ihe nominal va]ue of the shares issu¢d plus fair lUe of oiher consideration. Any premium is igDored. Pa8e l?
CHRIST VICTORY CENTRE INTEILNATIO.NAL Notes to the FinaneiAI St&tements for the Year Ended 31 1)eeember 2020 Derivrtiivefinallciul itt51rnments The ¢harit) uses d¢T)vaiivt financial instrum¢nts io reduce exw)SUTe to foreign exchange risk and iniefesi rate nh)v¢ments. The charity does not knld or issue d¢rii'aii¥e financia] iTtswuments for speculative pllrws¢s. Derii'atives are initially recosnised at fair i'alu¢ al the d¢ a deriN7tiie coniraci is entered into and are subsequenTly remeasured io their fair i'alue at each reporting date. The r¢sulting gain or 1055 15 recognised in stat¢ment of financial activities immediaiel) unless the deriNaiiNe Is designated and effective &s a hedging Instrument. in which event ihe timing of the reeo8Thiiion $emen[ of fJnaJKial afflivities depends on the nature of ihe hed8e relationship. Falr vtttheme&sureffieftt The besi evidence of fair wajue is a quoted PTi¢¢ for an ideniical assd in an xiive marko. When quoted prices ar¢ unavailable. the price of a recent transaction for an idethtical a55¢t provid¢5 'idence of fair value &s long &$ Ihere has not been a 51gnLfLcani chan4e in economi¢ ¢ir¢umsunres or a significant lapse of tim¢ since the trdnsaetion look plaee. If ihe mark'ei is not athive and receni transactions of an identi¢al asset on their are not a good ¢siima of fair salue. the fair walue is tlaled by using a valuwion iechnique. 2 Income frorn donxlions #nd Iycies UDre5trirttd ruNd5 General Re5trieted funds To1 funds tknnatiorts and legaci¢5,' Legacits Regular giving and capitsi donaiions ilo ilo 24235 Total for 21b20 ?4,545 Total for 21119 jl.7?0 325 32.045 3 Intome from other Irading etibitits L"nrestricted funds General Restricted funds Toi41 funds Total for 2020 Totgl for 21119 6.480 ?78 6.758 4 Investment ioeome Page li
CHRIST VICTORY CENTRE I,TERIAT1ONAL Notes to the Finan¢ial Statements for the Year Ended 31 Deeember 2020 I'nrtstrided fund5 Designated Gett¢rl funds lThteresi receiwable and similar ineome- Ini¢r¢sr e1vable on bank deposits 25 25 Total for 2020 25 Totsl for 2019 51 5 Other ineome Total 6 Expenditllre ott rR5ing funds Tot41 7 Expenditure on charitable artil'ities L Thresirided fund5 GenerAI Restrided fund5 Total funds Allo¢at¢d support Costs ?8.680 8,9)0 37,580 Totsl for 2019 14.455 9.517 ?3.972 Totsl expenditure 8 (hher expenditu Inrestricted funds GeneTal Total funds Allo¢a¢¢d sUprt Sts 1.930 1.930 TotAI for 2020 1.930 1.930 Total for 2019 4.317 4,317 Page 14
CHRIST VICTORY CENTRE INTERNATlOJtAL Notes to tkne Finallrial Stat¢menls for ihe Year Ended 31 Dec¢mber 2020 9 Y¢¢ ID¢ominWoutgoiDg re50urce5 Nei loutgoingyin¢omiog r¢sour¢es for ihe )'ear include.. 2020 10 Trustees rernuDer*tion and experts¢s 11 Stsff eosts No employee received emolurnents of nMTrre than £(rt).lKj during the )ear Page 15
CHRIST VICTORY CE,NTRE I.NTERNATIONAL Notes to the Financial Statements for the Year Ended 31 December 2020 12 Taxation Th¢ Charity is a Stered charity aTwJ is iherefore exemw from taxation. 13 Txttgibk fixed assets IADd buildings Furniture 8nd equlpThent Toigl Cost At l January )O?O 61?581 16.174 6)8,755 At 31 December ?O?O 61?581 16.174 628.755 Deprttiation Ai l January ?O?O Charge for the year 167.?76 15.358 163 182.634 9.063 Ai 31 tk¢ernber ?020 176.176 191.697 Net Frtbok value Ai 31 tkcember ?O?O 4i6.405 65i 437.058 Ai 31 Dernber ?019 445.i05 816 14 Debtors 2020 2019 (hher debiors 6.i9i 7,930 15 and ¢xsh equivalents 20211 2019 C&sh ai bank 55.981 65.?53 16 Creditors: 4mounts falling due within ODe vur 2020 2019 Accruals 750 500 17 Creditors: 4thounts falling due after one )'e*r 2020 21119 her loans ?93.610 305.910 Page 16
CHRIST VICTORY CE.NTRE INTERNATIONAL Notes to the Financial Statements for the Year Ended 31 December 2020 18 Funds Balance xt I J%nuar%" 2020 Incoming resourte5 Balance st 31 tkcember 2020 expended Lnrestricted funds G¢n¢rdl 160.933 30.9i8 {30,6101 161,261 Designated 25 Total ufiresirided fund$ 160.933 30.963 130.610 161.286 Restricl¢d fuDds 51.661 1.0?5 8.WX)I 43,786 Total fuDds il.988 li9.£101 Resourfes expended ?05.07? Balance xt 31 December 2019 IAnce Ai I Jnu%Th" 2019 Incomin% resources Lnrestrieted funds Generdl 133.5?4 46.181 118.772 160.933 Resiricted fund$ 60.575 603 19.5171 51,661 Toil funds 194.¢ 46.784 1?8.2891 212,594 19 Analysi5 of Det assets betwttn funds iinrestrirted Tot41 funds 8t Jl funds December General 21120 Tangible fixed assets Current assets Current liabilities Crediiors over l year 437.058 62.374 1750 1?93.610 437.058 62,374 17501 293,6101 Totsl assets 105.07? 205.072 Pa8¢ 17
CHRIST VICTORY CENTRE INTERNATIONAL Notes to the FiDan¢ial Statements for the Year Ended 31 Deeember 2020 LDre5tricted Tvlxl funds at 31 fund5 Decernber Genernl 2019 Tangible fixed assds Current assets cuen1 liabiliti¢s CreditOTS over l )'ear 445.821 73.183 15001 305.9101 445.821 73.183 15001 305,9101 Total net ?1?594 20 An*ly5i5 of fynds At l Jaouar). Ai 31 DecernIr 2020 2020 C&%h at bank and in hand 65.253 Net d¢bt 65253 65.253 Ai l January At 31 Deeember 2019 2019 C&sh at bank and in hand ??.963 ?2.963 Net debi 7.963 Page 18
CHRIST VICTORY CENTRE INTERNATIONAL Statement of Financial Aetii'ities b!. fund for the Yr Ended 31 Deeember 2020 Toial Total UDresirided Unrestricted Funds Funds 2020 2019 Income and Endowments from: tk)nations and lega¢ies her trading afflivities Inv¢stmeni income Other income 24.445 31.720 6.480 25 6.393 7.930 Totsl income 30,963 46.181 Expenditure on: Charitsbl¢ a¢tivitie5 Oth¢r expenditure 128.6801 11,9iOI 114.4551 4.317 Totsl expenditure 130.6101 118.772 Net income 353 ?7.409 Net movement in funds 353 ?7,409 Retoneili*tion of funds Total funds br(>ughi forward 160.933 133.524 Totsl funds carried forward 160,933 This page do not fi)rm part of the stUr). fEnancial ststemcnts. Page 19
CHRIST VICTORY CENTRE INTERNATIONAL Stat¢ment of Financial Aetii'ities b). fund for the Year Ended 31 December 2020 Total Re5trided Funds 21121b Total Restricted Funds 21119 Ineome and Endowments from: tk)naiions and legacies Other tradinsi activities 325 278 Total income 1.025 603 Expendiiurt on: Charitsble activiiies 19.517 Totsl expenditure 18.WOI 19.5171 Net expe[ilUre 7.875 18.914 Net movement in funds 7.8751 18.9141 Reconciligtion of fllnds Totsl funds brought forward 51.661 60,575 Totsl funds carried forwwd 43.786 51.661 This pdge does noi fomi part of the financial statements. Page ?0
CHRIST VECTORY CENTRE IL%TERNATIONAL Detailed Statement of Fingncial Activities for the Year Ended 31 December 2020 Ttstal 2020 Total 2019 lrteorne and Eodowments from: tknnations and legacies lanal)"sed below) (hher trading ac(iN'iiies lanal)sed btlow Invesimeni incorne lanalysed belo) Other InMe lanaly%d below) 25.570 32.045 6.758 25 6.393 7.930 Totsl income 31,988 46.784 Exptnditure on: Char2table actiiiiies lanalysed below) (hher expenditure lanal)sed b¢luul 137.5801 11,9301 1?3.9721 14.317 Total expenditur¢ 39.5101 128.?891 Net lexpenditurevineome 17.5?21 18.495 Ner movemeni in funds 175221 18.495 R¢¢orteiliation offuDds Total funds brought forward 194.099 Total funds carried forward 105,072 212.594 This pag¢ does not form pan ofthe StsTury financial 5wements. Pa8e?I
CHIUST VICTORY CENTRE II%TERNATIONAL Detailed Statement of Financi41 Activities for the Ye#r Ended 31 December 2020 I'otAI 2020 Toigl 2019 leguci Tithes Offerin8S Building Furtds 29.319 2.401 3?5 j?,045 1.025 ?5.570 thher irttding 4rtivitses tA)naiions Yourh Contribl0S 6.480 6.758 Investnt income InieTest on cash dew)si1s Inierest on c&sh d¢FX)Sits 25 51 51 Otherincome Other income 6.393 6.393 7,930 7.930 Chariiable oclivili Wages and salaries Smortgage pa>able Charitable donations Depreciation of freehold prortY 12 ?501 12.0251 11801 19.517 ?j,9721 {28.6801 18.900 37.5801 her e¥pendi¢ure 'ages and salarits Telephone and fax Accountanc) ftts The audit of the charir)'s annual accounts Depreciation of office equipmeni 1? ?501 11,3631 15001 {1.0171 17501 11631 1,930 12041 4.317 This page does tKFt forni part of the financial swements. Pagc 22