2020-12-31-accounts - Victory Revival Christian Centre

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REGISTERED CHARITY NUMBER: 1067815

VICTORY REVIVAL CHRISTIAN CENTRE

REPORT AND FINANCIAL STATEMENT FOR THE

YEAR ENDED 31[ST] DECEMBER 2020

J &T LEXINGTON SERVICES LIMITED 8 HOLME CLOSE, REDHILL GRANGE WELLINGBOROUGH NN9 5YF

VICTORY REVIVAL CHRISTIAN CENTRE

	Page
CONTENTS	2
Charity information	3
Trustees’ Report	4
Independent Examiner’s report	5
Income and Expenditure Account	6
Balance Sheet	7
Notes to the Accounts	8 – 11

VICTORY REVIVAL CHRISTIAN CENTRE

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Charity number

1067815

Registered office 7 Croft Avenue Tamworth B79 8AY

Trustees

Pastor Simon Ihianacho Bishop John Gichiri Rev. Francis Maina Irungu Rev Virginia Spencer

Accountants

J & T Lexington Services Limited 8 Holme Close Redhill Grange Wellingborough NN9 5YF

VICTORY REVIVAL CHRISTIAN CENTRE

Trustees’ Report

The Trustees have pleasure in submitting their report, and accounts for the year ended 31[st] December 2020. The financial statements have been prepared in accordance with the accounting policies set out on page 7, and comply with the statement of recommended practice.

Constitution, objective of the charity, principal activity and organisation of our work

The charity is constituted under a declaration of trust dated 20[th] January 1998 with UK registered charity no. 1067815.

The objectives of the charity as set out in the Declaration of trust are:

The advancement of Christian faith.
The relief of poverty

The ministry was involved in Christian outreach programmes designed to increase Christian awareness and spread the gospel of our Lord Jesus Christ. Some of the events that took place during the year were:

New year’s celebrations.
Easter gathering in our Oxford branch,
Annual conference took place in Heston.

Development activities and achievement in the year

The trustees are pleased to report that the Church continued to be successful spiritually by ministering to many people.

Many Christian and non-Christians attended our services and many re-dedicated their lives to our Lord and Saviour, Jesus Christ.

Review of the financial position

The charity made a surplus for the year amounting to £ 1,582. (2019 surplus: £10,259).

Approval

The report was approved by the board of trustees on …………… 2021 and signed on their behalf by:

________ John Gichiri TRUSTEE

VICTORY REVIVAL CHRISTIAN CENTRE

Independent Examiner’s Report

To the Trustees of VICTORY REVIVAL CHRISTIAN CENTRE

I report on the accounts of the church for the year ended 31[st] December 2020 set out on pages six to eleven

Respective responsibilities of trustees and examiner

The trustees of the charity are responsible for the preparation of the accounts. The charity’s trustee consider that an audit is not required for this year (under section 144(2) of the Charities Act 2011 (the 2011 Act), and that an independent examination is required.

Having satisfied myself that the charity is not subject to audit and is eligible for independent examination, it is my responsibility to:

1) Examine the accounts under section 145 of the 2011 Act.
2) Follow the procedures laid down in the General Directions given by the Charity Commission (under section 145(5)(b) of the 2011 Act) and
3) 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 statements below.

Independent examiner’s statement

In connection with my examination, no matter has come to my attention:

which gives me reasonable cause to believe that, in any material respect, the requirements
to keep accounting records in accordance with section 386 and 387 of the Companies Act 2006;
to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 394 and 395 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice and Reporting by Charities 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.

Joseph Kinuthia C.P.A, DMS, MBA J & T Lexington Services Ltd

8 Holme Close, Redhill Grange Wellingborough NN9 5YF

VICTORY REVIVAL CHRISTIAN CENTRE

Statement of financial activities for the year ended 31[st] December 2020 Incorporating the Income and Expenditure Account

Note Incoming Resources Incoming resources from generated funds Voluntary income 2 Gift Aid Interest income Total Incoming Resources Resources expended Charitable activities Administrative expenses Rent Conferences & Hospitality Gift & donations Printing & Stationery Salaries & Wages Subsistence allowance Travelling & Accommodation Repairs & renewals Mission Bank charges & interest Telephone & postage Professional & legal charges Water, gas & electricity Training Advertising Depreciation Governance costs 3 Total resources expended Net incoming/ (outgoing) resources Balances carried forward at 31st December 2020	2020 £ 105,833 27,346 26 133,205 1,973 52,343 9,349 5,290 1,552 9,901 15,800 2,365 13,432 989 3,609 1,530 4,447 2,416 - 595 5,632 131,223 400 131,623 1,582 1,582	2019 £
		191,117 43,450 229
		234,796
		416 62,649 24,333 6,281 2,784 74,208 6,290 3,164 21,495 1,340 4,197 1,119 5,033 3,408 1,541 - 5,879
		224,137 400
		224,537
		10,259 10,259

There were no recognised gains or losses in the year. All activities derive from continuing operations.

VICTORY REVIVAL CHRISTIAN CENTRE

Balance Sheet as at 31[st] December 2020

Note Fixed assets Tangible fixed assets 4 Current assets Debtors 5 Cash at bank and in hand Creditors- amounts falling due within one year 6 Net current assets Net assets Represented by: Creditors- amounts falling due 7 after one year Funds of the charity Reserves Net incoming resources	27,346 78,630		2020 £ 163,071 105,576 268,647 35,604 231,461 1,582 268,647		2019 £ 167,370 43,450 62,492
	105,976 (400)				105,942 (400)
					105,542
					272,912
					41,451 221,202 10,259
					276,389

The financial statements were approved by the Trustees on ……………2021 and signed on their behalf by:

Bishop John Gichiri ___________

Trustee

VICTORY REVIVAL CHRISTIAN CENTRE Notes to the financial statements for the year ended 31[st] December 2020

1. Accounting policies

a) Accounting basis

These accounts have been prepared on the receipts and payments basis under section 42(3) of the Charities Act 1993 and the Statement of Recommended Practice on Accounting by Charities published in March 2008. The adoption of the revised SORP has resulted in reclassification of some items.

b) Incoming resources

i) Voluntary income

Voluntary income is received by way of Tithes offerings, donations and gifts and is included in full in the Statement of Financial Activities when receivable.

ii) Bank interest

Bank interest is included in the income and expenditure account on receipt.

c) Resources expended

All expenditure is accounted for on an accruals basis.

d) Fixed assets and depreciation

Fixed assets are included at cost. Depreciation is provided at rates calculated to write off the cost of each asset over its expected useful life using the reducing balance method. Assets are depreciated as follows: Land & Building at 2% Instruments & Equipments at 12.5%. Fixtures & fittings at 6.5%

e) Restricted and unrestricted funds

Income received for restricted purposes is included in a separate restricted fund against which appropriate expenditure is allocated. Restricted funds are those funds which represent grants and donations for a specific purpose. Upon full performance of the purpose of the grant, any surplus is then retrievable by the donor. Income generated for the objects of the charity without further specified purpose is allocated to unrestricted funds. Accumulated surpluses may be retained by the church and are expendable at the discretion of the trustees in furtherance of the church’s objects. There were no restricted funds during the year.

VICTORY REVIVAL CHRISTIAN CENTRE

Notes to the financial statements for the year ended 31[st] December 2020

1. Accounting policies (continued)

f) Designated funds

Designated funds are allocated out of unrestricted funds by the trustees for specific purposes. The use of such funds is at the trustees’ discretion. There were no designated funds during the year.

g) Irrecoverable VAT

The church is unable to recover VAT since it does not make taxable supplies. The cost of irrecoverable VAT is not separately analysed in the financial statements.

h) Cash Flow

The church has taken advantage of the exemptions in Financial Reporting Standard No 1 from the requirement to produce a cash flow statement on the grounds that it is a small church.

2. Incoming resources from generated funds

Voluntary income Tithes and offerings	Unrestricted £ 105,833 105,833	Restricted £ 0.00 0.00	Total funds 2020 £
			105,833
			105,833

VICTORY REVIVAL CHRISTIAN CENTRE

Notes to the financial statements for the year ended 31[st] December 2020

3. Governance costs

Accountancy fees	£ 400
	400

4. Tangible fixed assets

Cost At 1st January 2020 Additions At 31st December 2020 Depreciation At 1st January 2020 Charge At 31st December 2020 Net book value 2020 Net book value 2019	Land & Building 175,000 - 175,000 29,093 2,918 32,011 142,989 145,907	Fixtures & Fittings £ 800 - 800 404 26 430 370 396	Church Equipment & Instruments £ 65,122 1,333 66,455 44,055 2,688 46,743 19,712 21,067	Total £
				240,922 1,333
				242,255
				73,552 5,632
				79,184
				163,071
				167,370

VICTORY REVIVAL CHRISTIAN CENTRE

Notes to the financial statements for the year ended 31[st] December 2020

5. Debtors

Sundry debtors HMRC – Gift Aid		2020 £ 27,346 27,346		2019 £ 43,450
				43,450

6. Creditors – amounts falling due within one year

Other creditors and accruals	2020 £ 400	2019
		£ 400

7. Creditors – amounts falling due more than one year

Long term liability-Mortgage		2020 £ 35,604		2019 £ 41,451

8. Financial commitments

Capital Commitments

The church had a capital commitment in form of a mortgage as at 31[st] December 2020.

Operating lease commitments

The church had an operating lease in Oxford as at 31[st] December 2020.