2021-05-31-accounts - Anchor Of Hope Christian Fellowship

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TRUSTEES ANNUAL REPORT

(Financial Year June 2020 to May 2021)

Commitment to our core mandate of propagating the Christian Faith, continues to be our main driver. We have been unrelenting in our drive to get people, especially young people, more interested in the things of God. By the grace of God, there has been a steady increase in our population, in the last couple of years.

The relaxed atmosphere, due to our exclusive control of the present place of meeting, continues to be a major attraction.

The office is open during and outside normal office hours, as the occasion demands.

Leasehold

As earlier reported, we extended our lease for another ten-year term, as the old one expired in October 2016. The current arrangement has a five-year break clause, with a three-year review period.

September 2020 marked the end of the first three years, and thus, a review became due. The present structure is as follows:

October 2020 – September 2023 - £65,000.00 per annum (5,417.00 per month)

October 2023- September 2026 - £67,500.00 per annum (£5,625.00 per month).

We consider this structure outrageous, and therefore, unacceptable, given the fact that we have been in this building for seventeen years. Moreover, the outbreak of the corona virus pandemic, which has completely altered the business terrain negatively, lends credence to our stand that any upward rent review is unrealistic. We are currently taking this up with the Landlord.

Alternatively, we are frantically looking for another building. We have made representations to the local Council, if there are any disused buildings, warehouses, and non- functional places of worship that we can possibly buy or lease long-term, but there are no positive outcomes yet.

We are of the opinion that what we currently pay as rent, can actually sustain a mortgage.

We have been able to keep up with the payment of the lease for this property, so far, because of the secure tenant occupying the top floor.

Religious Activities

Our commitment to the teaching and practice of the Word of God remains. To enhance this, we often give room to preachers from other churches (both local and international), who are gifted in other areas, to share with us.

Instead of the usual Sunday school classes held on Sundays before the main service, we now have full Bible Study sessions every Wednesday . This allows for more time to discuss issues thoroughly. Topics treated are normally sourced or generated from members, and are therefore relevant to our local needs and concerns. This approach continues to be of immense benefit to all.

We have also created other groups in the church along gender lines and peer groups, which meet on different days during the week. So we now have: Young Women’s Group (for young women); Sons of God (For the young men); and other activity groups.

Friday Prayer Meetings have also become more vibrant. Interest in them is growing and attendance has increased.

The all-female prayer meeting ( Esther Intercessory Band ) holds on Saturdays.

Young Ministers

In further pursuit of the need to prepare the Church for the future, four other young adults are currently undergoing training in the Bible College. This is in addition to the seven that got trained last year.

Presently, we are deliberately involving them more actively in conducting various aspects of mainstream church programs.

Music

This section has recorded outstanding success. There is now a very vibrant choir consisting of professional singers and instrumentalists. Punctuality to church has improved as a result of this, as people do not want to miss the Praise and Worship sessions, which are very uplifting.

We keep upgrading the musical instruments and the public address system.

Counseling

Very often, the Pastor’s office is open outside normal working hours, to attend to those who, due to their work schedules, are not able to keep appointments during normal office hours. The counseling sessions (both social and spiritual), which are now held at the convenience of the counselees, have been very fruitful.

Young Adults

Special attention continues to be given to the youth. Youth programs are now organized more frequently than before. This has resulted to an increase in the youth/young adult population. They now actually constitute about 80% of the general church population. They meet regularly for fellowship every Tuesday fortnight.

Covid 19 Pandemic (Review and update)

This phenomenon that started in the last quarter of our 2019 financial year, caused major disruptions that we never envisaged. All meetings are now conducted online via zoom. The technical team worked so hard on equipment procurement, in order to meet our streaming challenges.

We do miss our coming-together fully as a congregation.

The Church continues to pray for the land and the world in general, for God’s mercy, and for a solution to this scourge to be found soon.

Food share Programme.

The pandemic made it impossible for us to continue with this programme. We hope to continue when things return to normal.

Relief of poverty and Overseas Aid

We remain committed to this cause.

This period of the pandemic has necessitated increased spending in this sector.

Missionary Outpost

Missionary activities are ongoing.

Construction works are still going on in the Church building project, but mainly now on the external facilities like fencing, paving and sand-filling.

One main challenge we had at the branch this period, was flooding. To this end, we had to raise the whole compound and re-pave once again.

We continue to remember Mrs Ayo Titi Gbegbaje, the Eighty-two-year old woman who donated the plot of land to us. She passed away on 29[th] May, 2017.

This has been a clear message to every one of us to live and work more for God, in order to leave a worthy legacy behind, as Madam Gbegbaje, who has now become an example to us, has done.

We wish her generous soul peaceful rest with the Lord.

New Branch

In a joint meeting of the Board and Church Executive Council, held on 1[st] May 2021, it was unanimously decided and agreed that a new branch Church be built in Owo, Ondo State, Nigeria. This is as a result of increased Missionary work in that part of the country, which has been on-going for the past four years.

We have acquired four plots of land for this project, and the registration of the area and Planning Permit, is currently on-going with the State Ministry of Lands and Survey.

Gift Aid

This year we received Twenty-three thousand, Three hundred and fifty-nine pounds, Nineteen pence (£23,359.19) gift aid, as follows:

30/09/20– £9,989.22

24/05/21 – £13,369.97

Total - £23,359.19

Finances

Our finances have improved due to more commitment by members, and as a result of gift aid receipts from HMRC.

One recurring expenditure item is ‘Construction’. This represents monies paid to various contractors and suppliers for construction works on the missionary projects. This year we spent £23,699.

Our closing cash balance this year is £94,098

Summary

Overall, it has been a successful year, and we hope to develop the gains of this year for an improved 2021.

Trustee

Charity No 1060123

Anchor of Hope Christian Fellowship

Annual Accounts June 2020 - May 2021

Prepared by DTT Consultancy Ltd

Anchor of Hope Christian Fellowship
	Annual accounts for the period
	Period start date	1st June 2020	To	Period end date	31st May 2021

Section A	Statement of financial activities
Recommended categories by activity Details of own analysis Note Incoming resources (Note 3) g g funds Voluntary income S01 Activities for generating funds S02 Investment income S03 Incoming resources from charitable activities S04 Other incoming resources S05 S06 Resources expended (Notes 4-8) Costs of Generating Funds Costs of generating voluntary income S07 Fundraising trading costs S08 Investment management costs S09 Charitable activities S10 Governance costs S11 Other resources expended S12 S13 S14 S15 S16 S17 S18 S19 S20 S21 *Total resources expended* *Total incoming resources* *Total funds carried forward* Total funds brought forward *Net movement in funds* *Net incoming/(outgoing) resources before transfers* Prior year adjustment Gains and losses on revaluation of fixed assets for the charity’s own use Other recognised gains/(losses) *Net incoming/(outgoing) resources before other* *recognised gains/(losses)* Gross transfers between funds		Unrestricted funds Restricted income funds Endowment funds Total this year Total last year £ £ £ £ F01 F02 F03 F04 F05
			-	-	-	-
		196,441	-	-	196,441	134,519
		-	-	-	-	-
		-	-	-	-	-
		17,600	-	-	17,600	9,100
		-	-	-	-	-
		214,041	-	-	214,041	143,619

			-	-	-
		134,004	-	-	134,004	128,215
			-	-	-
			-	-	-
		13,330	-	-	13,330	8,945
		-	-	-	-	-
		-	-	-	-	-
		147,334	-	-	147,334	137,160
		66,707	-	-	66,707	6,459
		-	-	-	-	-
		66,707	-	-	66,707	6,459

		-	-	-	-	-
		-	-	-	-	-
		66,707	-	-	66,707	6,459
		27,391	-	-	27,391	20,931
		94,097	-	-	94,097	27,391

Page 1

Section B Balance sheet as at 31st May 2021

Restricted

Unrestricted funds income funds Endowment funds Total this year Total last year £ £ £ £ £ F01 F02 F03 F04 F05	Unrestricted funds income funds Endowment funds Total this year Total last year £ £ £ £ £ F01 F02 F03 F04 F05	Unrestricted funds income funds Endowment funds Total this year Total last year £ £ £ £ £ F01 F02 F03 F04 F05	Unrestricted funds income funds Endowment funds Total this year Total last year £ £ £ £ £ F01 F02 F03 F04 F05	Unrestricted funds income funds Endowment funds Total this year Total last year £ £ £ £ £ F01 F02 F03 F04 F05
-	-	-	-	-
-	-	-	-	-
-	-	-	-	-
-	-	-	-	-

-	-	-	-	-
	-	-	-
	-	-	-
94,098	-	-	94,098	27,391
94,098	-	-	94,098	27,391

	-	-	-

94,098	-	-	94,098	27,391

94,098	-	-	94,098	27,391

	-	-	-
-	-	-	-	-

94,098	-	-	94,098	27,391

94,097			94,097	27,391
			-
	-		-
		-	-

94,097	-	-	94,097	27,391

Date of approval Print Name Signature
		Dr David Orimaye		15/08/2021

Page 2

Section C Notes to the accounts

Note 1 Basis of preparation

This section should be completed by all charities .

1.1 Basis of accounting

These accounts have been prepared on the basis of historic cost (except that investments are shown at market

Accounting and Reporting by Charities – Statement of Recommended Practice (SORP 2005);

• and with*  Accounting Standards; or Financial Reporting Standards for Smaller Enterprises (FRSSE); • and with the Charities Act 1993.

[** except for the following].

Give details in this box if a different standard has been followed.

-Tick as appropriate:

 if all relevant disclosures shown in the pack have been given then please tick “Accounting Standards”;

 if disclosures completed in these accounts have been restricted to those required by the FRSSE, then please tick “Fi** - If no departures from the chosen standards have been made then delete these words; otherwise give details of any i l R ti St d d f S ll E t i (FRSSE)” changes in the boxes.

1.2 Change in basis of accounting

There has been no change to the accounting policies (valuation rules and methods of accounting) since last year .

Page 3

Section C Notes to the accounts (cont)

Note 2 Accounting policies

This standard list of accounting policies has been applied by the charity except for those deleted. Where a different or additional policy has been adopted then this is detailed in the box below.

INCOMING

These are included in the Statement of Financial Activities (SoFA) when: Grants and donations are only included in the SoFA when the charity has unconditional Grants and donations entitlement to the resources. Tax reclaims on donations Incoming resources from tax reclaims are included in the SoFA at the same time as the gift to and gifts which they relate. Contractual income and This is only included in the SoFA once the related goods or services have been delivered. performance related grants Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the Gifts in kind amount actually realised. Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or distributed by the charity. Gifts in kind for use by the charity are included in the SoFA as incoming resources when receivable. Donated services and These are only included in incoming resources (with an equivalent amount in resources facilities expended) where the benefit to the charity is reasonably quantifiable, measurable and material . The value placed on these resources is the estimated value to the charity of the service or facility received. The value of any voluntary help received is not included in the accounts but is described in the Volunteer help trustees’ annual report. Investment income This is included in the accounts when receivable. Investment gains and losses This includes any gain or loss on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year. EXPENDITURE AND LIABILITIES

Liability recognition	Liabilities are recognised as soon as there is a legal or constructive obligation committing the
	charity to pay out resources.
Governance costs	Include costs of the preparation and examination of statutory accounts, the costs of trustee
	meetings and cost of any legal advice to trustees on governance or constitutional matters.
Grants with performance	Where the charity gives a grant with conditions for its payment being a specific level of service
conditions	or output to be provided, such grants are only recognised in the SoFA once the recipient of the
	grant has provided the specified service or output.
Grants payable without	These are only recognised in the accounts when a commitment has been made and there are
performance conditions	no conditions to be met relating to the grant which remain in the control of the charity.
Support Costs	Support costs include central functions and have been allocated to activity cost categories on a
	basis consistent with the use of resources, eg allocating property costs by floor areas, or per
	capita, staff costs by the time spent and other costs by their usage.
ASSETS
Tangible fixed assets for use	These are capitalised if they can be used for more than one year, and cost at least £500. They
by charity	are valued at cost or a reasonable value on receipt.
Investments	Investments quoted on a recognised stock exchange are valued at market value at the year
	end. Other investment assets are included at trustees' best estimate of market value.
Stocks and work in progress	These are valued at the lower of cost or market value.

Page 4

Section C Notes to the accounts (cont)

Note 3 Analysis of incoming resources

Incoming resources may be further analysed if this would help the reader of the accounts.

Analysis	This year Last year £ £	This year Last year £ £
Tithes/ Offering	172,783	112,915
Gift aid	23,359	21,206
Charities Trust	299	398

Total	196,441	134,519

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	-
	-
	-
Total	-

	-
	-
	-
	-
	-
Total	-

Rent Received	17,600	9,100

Page 5

Section C Notes to the accounts (cont)

Note 4 Analysis of resources expended

Analysis This year Last year £ £ 62,500 60,000 1,280 2,282 5,240 5,440 2,206 2,180 6,000 4,000 1,250 500 5,159 3,911 - 1,000 - 10,340 23,699 15,315 Pastor's Stipend 18,000 18,000 1,869 2,047 500 - 1,500 6,302 1,700 134,004 128,215 - - - - - - - - - - - - - - - - - - - - 13,330 8,745 - 200 13,330 8,945 - - - - - - Total Construction OveseasAid Youth Program Training Professional fees Telephone & Internet Governance costs Total Charitable activities Donation Total Total Investment management costs Resources expended may be further analysed if this would help the reader of the accounts. Fundraising trading costs Total Rent/ Hall Hire NI Contribution Maintenance Theatreproduction Transportation Insurance MissionaryTrips Honourarium Equipment	Analysis This year Last year £ £ 62,500 60,000 1,280 2,282 5,240 5,440 2,206 2,180 6,000 4,000 1,250 500 5,159 3,911 - 1,000 - 10,340 23,699 15,315 Pastor's Stipend 18,000 18,000 1,869 2,047 500 - 1,500 6,302 1,700 134,004 128,215 - - - - - - - - - - - - - - - - - - - - 13,330 8,745 - 200 13,330 8,945 - - - - - - Total Construction OveseasAid Youth Program Training Professional fees Telephone & Internet Governance costs Total Charitable activities Donation Total Total Investment management costs Resources expended may be further analysed if this would help the reader of the accounts. Fundraising trading costs Total Rent/ Hall Hire NI Contribution Maintenance Theatreproduction Transportation Insurance MissionaryTrips Honourarium Equipment	Analysis This year Last year £ £ 62,500 60,000 1,280 2,282 5,240 5,440 2,206 2,180 6,000 4,000 1,250 500 5,159 3,911 - 1,000 - 10,340 23,699 15,315 Pastor's Stipend 18,000 18,000 1,869 2,047 500 - 1,500 6,302 1,700 134,004 128,215 - - - - - - - - - - - - - - - - - - - - 13,330 8,745 - 200 13,330 8,945 - - - - - - Total Construction OveseasAid Youth Program Training Professional fees Telephone & Internet Governance costs Total Charitable activities Donation Total Total Investment management costs Resources expended may be further analysed if this would help the reader of the accounts. Fundraising trading costs Total Rent/ Hall Hire NI Contribution Maintenance Theatreproduction Transportation Insurance MissionaryTrips Honourarium Equipment
Rent/ Hall Hire	62,500	60,000
NI Contribution	1,280	2,282
Transportation	5,240	5,440
Insurance	2,206	2,180
MissionaryTrips	6,000	4,000
Honourarium	1,250	500
Equipment	5,159	3,911
Maintenance	-	1,000
Theatreproduction	-	10,340
Construction	23,699	15,315
Pastor's Stipend	18,000	18,000
Professional fees	1,869	2,047
Telephone & Internet	500	-
Youth Program		1,500
Training	6,302	1,700
Total	134,004	128,215

	-	-
	-	-
	-	-
	-	-
	-	-
Total	-	-

	-	-
	-	-
	-	-
Total	-	-

OveseasAid	13,330	8,745
Donation	-	200




Total	13,330	8,945


	-	-
	-	-
Total	-	-

Page 6

Section C Notes to the accounts (cont)

Note 5 Support Costs

Please complete this note if the charity has analysed its expenses using activity categories and has support costs.

*support costs.*
Support cost type	Fundraising activity £	Charitable Activity £	Governance Activity £	Total Cost £
	-	-	-	-
	-	-	-	-
	-	-	-	-
Total	-	-	-	-
This year Last year £ £ *Please provide details of the amount of any payment or reimbursement of out-of-pocket expenses made* *to trustees or to third parties for expenses incurred by trustees. If no expenses were paid,* *please enter ‘None’ in the appropriate box(es).* Number of trustees who were paid expenses Nature of the expenses Total amount paid Note 6 Details of certain items of expenditure 6.1 Trustee expenses
			This year	Last year


			£	£

6.2 Fees for examination or audit of the accounts

Please provide details of the amount paid for any statutory external scrutiny of accounts and other services provided by your independent examiner or auditor. If nothing was paid please enter NONE in the appropriate box(es).

Other fees (for example: advice, consultancy, accountancy services) paid to the independent examiner or auditor Independent examiner’s or auditors' fees for reporting on the accounts	This year £	Last year £

Section C Notes to the accounts (cont)

Note 11 Debtors and prepayments

Please complete this note if the charity has any debtors or prepayments.

Amounts falling due within oneyear	Amounts falling due within oneyear	Amounts falling due after more than oneyear	Amounts falling due after more than oneyear
This year £	Last year £	This year £	Last year £
	-	-	-
-	-	-	-
	-	-	-
-	-	-	-
-	-	-	-

Note 12 Creditors and accruals Please complete this note if the charity has any creditors or accruals. 12.1 Analysis of creditors

~~Amounts falling due~~ ~~within one year~~	~~Amounts falling due~~ ~~within one year~~	~~Amounts falling due after~~ ~~more than one year~~	~~Amounts falling due after~~ ~~more than one year~~
This year £	Last year £	This year £	Last year £
	-	-	-
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-	-	-	-
-	-	-	-
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Independent examiner's report on the accounts

Section A Independent Examiner’s Report

Report to the trustees/ Charity Name members of Anchor of Hope Christian Fellowship

On accounts for the year ended

31st May 2021	Charity no (if any)	1060123

Set out on pages

(remember to include the page numbers of additional sheets)

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 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed. It is my responsibility to:

examine the accounts under section 145 of the Charities Act,
to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act, and
to state whether particular matters have come to my attention.

Basis of independent examiner’s statement

My examination was carried out in accordance with 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 the 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 In connection with my examination, no matter has come to my attention examiner's statement (other than that disclosed below *)

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 Charities Act; and
to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act
have not been met; or
to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Please delete the words in the brackets if they do not apply.

Signed: Ogedengbe Date: 11[th] Aug 2021 Name: Tunji Ogedengbe Relevant professional ACCA qualification(s) or body

IER

(if any):

Address:

Section B Disclosure

Only complete if the examiner needs to highlight material problems.

IER

Give here brief details of any items that the examiner wishes to disclose .

IER