**Charity registration number: 1054415**
## **Destiny House**
**Trustees' report and financial statements**
**For the year ended 31 March 2021**
## **Destiny House**
## **Contents**
**Page** Legal and administrative information Trustees report **2 - 4** Independent examiner’s report Statement of Financial activities Balance sheet Notes to the financial statements **8 – 9 Detailed income and expenditure account**
## **Destiny House**
## **Legal and administrative information**
|**Charity number**|1054415|
|---|---|
|**Registered office**|Tokyngton Community Centre|
||St Michael's Avenue|
||Wembley|
||Middlesex|
||HA9 6SA|
|**Trustees**|Simon Jean-Marie|
||Cion Morris|
||Rochelle Batende|
||Jennifer Boateng|
|**Accountants**|Asaph Solutions Limited|
||18 Belmont Road|
||Chesham|
||Bucks, HP5 2EL|
||England|
|**Bankers**|Lloyds Bank plc|
||PO Box 1000|
||BX1 1LT|
**1 |** P a g e
## **Destiny House**
## **Report of the Trustees For the year ended 31 March 2021**
The trustees present their report and the financial statements for the year ended 31 March 2021.
Trustees in the period: Simon Jean-Marie, Cion Morris, Rochelle Batende and Jennifer Baoteng.
The Trustees have assessed the major risks to which the charity is exposed and are satisfied that systems are in place to mitigate exposure to the major risks.
The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity’s (governing document), the Charities Act 2014 and the Statement of Recommended Practice, ‘FRS 102’ issued in July 2014.
## **Structure, governance, and management**
The charity was established by a charitable Trust Deed on 1[st] June 2000. The charity’s objects are to run a church whose objects are:
- The advancement of the Christian Religion by the proclamation and furtherance of the Gospel of God concerning His Son Jesus Christ, the Lord and the preaching and teaching of the Word of God by the Church in accordance with the Statement of Fundamental Truths of the Assemblies of God in Great Britain and Ireland as approved by the General Council from time to time.
- The furtherance of the work of the Assemblies of God in Great Britain and Ireland and the promotion of the spiritual teaching and the maintenance of the Statement and the promotion of religious observances that manifest the Statement.
- To relieve sickness and financial hardship and to promote and preserve good health by the provision of funds, goods or services of any kind, including through the provision of counseling and support in such parts of the United Kingdom or the world as the Trustees from time to time may think fit;
- To advance education in such ways and in such parts of the United Kingdom or the world as the Trustees from time to time may think fit.
- Such other charitable purposes as shall further the attainment of the above objects of the Church.
## **Achievements and performance**
- Our long-term goals include the redevelopment of the Sherrens Farm site in Tokyngton Community Centre over the next 3-5 years. It is our hope to develop a resource centre for this community and for Brent as a whole, to house facilities for the elderly, sporting facilities for the youth and possibly a school; all this will be done in conjunction with Church, the Community and with Brent Council. In doing so, it is our intention to dismantle the current buildings on site and to rebuild functional buildings to serve as a resource centre to meet the needs of our local Wembley and Brent community.
- We held prayer and fasting in January for 21 days; July for 7 days; September for 7 days.
- We continue to support churches abroad in several countries namely Dominican Republic, St Lucia, Haiti, India, Sierra Leone and Guyana.
- We are also continuing to support charities namely Good Shepherd Homes, Christian Aid and Teen Challenge.
**2 |** P a g e The notes on pages 8 to 9 form an integral part of these financial statements
## **Destiny House**
## **Report of the Trustees For the year ended 31 March 2021**
• The Community Christmas meal was held in homes where Destiny House helped to pay towards family meals, and we prepared games and even a play where we had various people play different parts in the nativity and send in separately and we fused it all together.
Overall, it has been a very difficult year due to the Covid-19 pandemic, but we are coming through and as we merge three (3) charities into one new CIO we are emerging with greater strength than in pre=pandemic times..
## **Financial review**
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three to six month’s expenditure. The Trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able continue the current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has not been maintained throughout the year and we are aware that the charity needs to set aside reserves at this level.
## **Funding**
This year, most of the funds raised were from receipts from voluntary donations made by members and friends.
## **Valuation of the building**
Amortisation at 25% per annum is to be continued to be applied to the lease for the period of its useful life.
## **Accounts and commendation**
The Statement of financial activities is set out on page 6 of the financial statements. Special thanks are again extended to the trustees, committee members and members of this church fellowship, the majority of whom are voluntary workers, who continue to work tirelessly in bringing this vision to fruition.
## **Governance and internal control**
Section 132 of the Charities Act 2013 requires that the charity keep proper accounting records and to prepare accounts that accord with the accounting records and that comply with the accounting requirements of the Act. In doing so, the charity has implemented systems of internal controls to provide reasonable, but not absolute, assurance against material misstatement or loss. These include:
1. correct handling of funds and operation of bank accounts held in its name
2. proper records being maintained, and financial information used within the charity or for publication is reliable
3. delegating responsibility thus ensuring that there is adequate segregation of duties and division of labour
**3 |** P a g e The notes on pages 8 to 9 form an integral part of these financial statements
## **Destiny House**
## **Trustees’ Report (continued) For the year ended 31 MARCH 2021**
## **Volunteers**
The charity is grateful for the dedication and commitment of volunteers who under the direction of the elders of the church perform several tasks in order to assist in fulfilling its objectives.
## **Risk Management**
The trustees have examined the operational and business risks, which we face and confirm that they have established systems to mitigate the significant risks.
## **Reserves policy**
It is the policy of the charity to maintain unrestricted funds, which are the free reserves of the charity, at a level which equates to approximately three months of unrestricted expenditure. This provides sufficient funds to cover management and administration and support costs.
## **Related Party Transactions**
There were no related party transactions.
## **Public benefit**
The Board’s strategy for achieving the objects, listed on page 2, for the public benefit is to advance The Christian faith in the United Kingdom and abroad by the proclamation of the gospel of Jesus Christ. In administering the charity, the Board complied with the duty, in Section 17 Charities Act 2013, to have regard to the Public Benefit guidance published by the Charity Commission. Our achievements as to how we fulfilled these objectives are detailed throughout this report and accounts.
Signed on behalf of the Board of Trustees by:
..………………………… …………………... C **hairman – S Jean-Marie Treasurer – C Morris Date:**
**4 |** P a g e The notes on pages 8 to 9 form an integral part of these financial statements
## **Destiny House**
## **Report of the Independent Examiner to the trustees**
We report on the accounts of the Trust for the year ended 31 March 2021, which are set out on pages 6 to 9.
## **Respective responsibilities of trustees and examiner**
The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2013 (the 2013 Act) and that an independent examination is needed.
It is my responsibility to:
- examine the accounts under section 145 of the 2013 Act;
- to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2013 Act; and
- to state 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 Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those 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 would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below.
## 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:
- to keep accounting records in accordance with section 130 of the 2013 Act; and
- to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2013 Act have not been met; or
- (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
**Denise Isaacs FCCA Asaph Solutions Limited** 18 Belmont Road Chesham Bucks, HP5 2EL England **Date: 15 June 2021**
**5 |** P a g e The notes on pages 8 to 9 form an integral part of these financial statements
## **Destiny House**
## **Statement of Financial Activities For the year ended 31 March 2021**
|**Notes**
**Incoming resources**
Incoming resources from generated funds:
Income
2
**Total incoming resources**
**Resources expended**
Charitable activities:
Pastoral, ministry and missions
Building expenditure
Church maintenance
Management and administration
**Total resources expended**
Net income for the year/
Net movement in funds
Total funds brought forward
**Total funds carried forward**|**2021**
**Total**
**£**
34,639
______
34,639
______
24,766
1,407
4,104
8,741
______
39,018
______
(4,379)
(1,644)
______
(6,023)
______|**2020**
**Total**
**£**
29,408
______
29,408
______
20,250
540
3,257
4,984
______
29,031
______
377
(2,021)
______
(1,644)
______|
|---|---|---|
The statement of financial activities includes all gains and losses in the year and therefore a separate statement of total recognized gains and losses has not been prepared.
All the above amounts relate to continuing activities.
**6 |** P a g e The notes on pages 8 to 9 form an integral part of these financial statements
**Destiny House**
|**Balance sheet**
**as at 31 March 2021**
**Notes**
**Fixed Assets**
Tangible fixed assets
3
**Current assets**
Cash at bank and in hand
Debtors
**Creditor (less than 1 year)**
Accruals and deferred income
**Net current liabilities**
**Net assets **
Total assets less current liabilities
**Total Funds**
Profit and loss reserve
|**2021**
**£**
**£**
196,751
3,235
-
______
3,235
1,200
______
1,200
2,035
______
198,786
______
198,786
______|
|---|---|
The financial statements were approved by the trustees and signed on its behalf by:
..………………………… ….…………………… C **hairman – S Jean-Marie Treasurer – C Morris** Date:
**7 |** P a g e
**Destiny House**
## **Notes to the Financial Statements For the year ended 31 March 2021**
## **1. Accounting policies**
The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and the preceding year.
## **1.1. Basis of accounting**
The financial statements are prepared under the historical cost convention and in accordance with the Statement of Recommended Practice Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014.
## **1.2. Cash flow**
The charity has taken advantage of the exemption in FRS1 from the requirement to produce a cash flow statement because it is a small charity.
## **1.3. Incoming resources**
All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to categories of income:
Voluntary income is received by way of donations, legacies and other forms of voluntary income and is included in full in the statement of financial activities when receivable. The value of services provided by volunteers has not been included.
Income from investments is included in the year in which it is receivable.
## **1.4. Resources expended**
Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered and is reported as part of the expenditure to which it relates.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
## **1.5. Tangible fixed assets and depreciation**
Tangible fixed assets other than freehold land are stated at cost less accumulated depreciation. Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life.
## **1.6 Leasehold premises - revaluation**
Th **e** lease on the building expires in year 2097. The current book value does not represent the fair value of the asset and as a result a valuation was assumed to cover the expected return from use of the building for the rest of the lease term. Amortisation of the value would be fixed for each year of the rest of the lease term.
**8 |** P a g e
## **Destiny House Notes to financial statements for the year ended 31 March 2021**
## **2. Incoming resources from charitable activities**
|
Hall lets
Less: Deposits held
Covid - 19 Grant
Tithes and offerings
Gift aid
**3.**
**TANGIBLE FIXED ASSETS**
**Fixtures**
**and**
**fittings**
**£**
**COST**
At 1 April 2020
10,963
Additions
-
____
At 31 March 2021
10,963
=====
**DEPRECIATION**
At 1 April 2020
Accumulated depreciation b/fwd
9,123
Charge for period
460
______
At 31 March 2021
9,583
=====
**NET BOOK VALUE**
At 31 March 2021
1,380
=====
**At 31 March 2020**
**1,840**
=====|**2021 2020**
**£ £**
-
6,100
-
(380)
20,193
-
13,040
20,490
1,406
3,198
______
______
34,639
29,408
======
======
**Land and**
**Buildings**
**Total**
**£**
**£**
211,000
221,963
-
-
______
______
211,000 221,963
=====
=====
13,024
22,147
2,605
3,065
______
______
15,629
25,212
=====
=====
195,371 196,751
=====
====**=**
**197,976**
**199,816**
=====
=====|
|---|---|
**9 |** P a g e
## **Destiny House**
**The following pages do not form part of the statutory accounts.**
## **Destiny House**
## **Detailed statement of financial activities**
## **For the year ended 31 March 2021**
|||**2021**||**2020**|
|---|---|---|---|---|
||**£**|**£**|**£**|**£**|
|**Incoming resources**|||||
|**Incoming resources from generating funds:**|||||
|Hall lets||-||6,100|
|Grants – Covid-19||20,193||- -|
|Rent received – Nursery and Hall||-||36,600|
|Less: Deposits held||-||(380)|
|Donations received||13,040||20,490|
|Gift Aid||1,406||3,198|
|||______||______|
|||34,639||29,408|
|||______||______|
|Investment income||||-|
|||______||______|
|**Total incoming resources from generating funds**||34,639||29,408|
|||______||______|
|**Total incoming resources**||34,639||29,408|
|||______||______|
## **Destiny House Detailed statement of financial activities**
## **For the year ended 31 March 2021**
||**2021**|**2021**||**2020**||
|---|---|---|---|---|---|
||**£**|||**£**||
|**Charitable activities**||||||
|**Pastoral ministry and missions’ expenditure**||||||
|Gifts and donations|17,700||17,550|||
|Benevolence|2,074||-|||
|Missions|4,240||1,500|||
|Special events|-||1,200|||
|Pastoral expenses|479||-|||
|Guest speaker|273||-|||
||______||______|||
||24,766|||20,250||
|**Building expenditure**||||||
|_Activities undertaken directly_||||||
|Insurance|-||330|||
|Repair and Maintenance|1,407||210|||
||____||______|||
|||1,407||540||
|**Church maintenance**||||||
|Advert|1,273||-|||
|- -||||||
|Light & Heat|2,831||3,257|||
||**______**||**______**|||
|||4,104||3,257||
|**Management & Administration**||||||
|_Activities undertaken directly_||||||
|Wages and salaries|2,792||-|||
|Employers NIC|-||-|||
|Pensions|-||989|||
|Accountancy|600||600|||
|Administration|
400||-|||
|Sundry expenses|155||-|||
|Depreciation|460||613|||
|Amortisation|2,605||2,605|||
|Subscriptions|-||35|||
|Telephone|-=||117|||
|PPS|1,729||-|||
|Bank charges|-||25|||
||______||______|||
||8,741|||4,984||
||______|||______||
|**Total charitable activity expenditure**|39,018|||29,031||
||______|||______||
|**Net incoming/ (outgoing) resources for the year**||(4,379)|||377|
||______|||______||