REGISTERED CHARITY NUMBER: 1070584 (England and Wales)
Report of the Trustees and
Financial Statements for the Year Ended 31 December 2021
For
FRONTLINE MINISTRIES (ENFIELD)TRUST
FRONTLINE MINISTRIES(ENFIELD)TRUST
Contents of the Financial Statements for the Year Ended 31 December 2021
| Contents | Page |
|---|---|
| Contents | 1 |
| Report of the trustees | 2-5 |
| Independent Examiner | 6 |
| Statement of Financial Activities | 7 |
| Balance Sheet | 8 |
| Notes to the Financial Statements | 9-10 |
| Detailed Statement of Financial Activities | 11-12 |
Page 1
FRONTLINE MINISTRIES(ENFIELD)TRUST
Report of the Trustees for the Year Ended 31 December 2021
The trustees present their report with the financial statements of the charity for the year ended 31 December 2021. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities' issued in March 2005.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number 1070584
Principal Address 12 Lincoln Crescent Enfield EN1 1JY
Trustees
Mr Dayo Olusesi - Chair Reverend Olayinka John -Trustee Pastor Adeniyi John - Trustee Pastor Omoniyi Ajayi - Trustee Mr Emmanuel Akiboye -Secretary
Bankers Barclays Bank Upper Edmonton Edmonton London N28 8TT
HSBC Romford Branch 9 Market Place Romford Essex RM1 3AF
Independent Examiner
AE Accountax Ltd (Office Address) 5[th] Floor Kingsgate House 62 High Street Redhill RH1 1SH
(Registered Office Address) 100 Spencer Way Redhill RH1 5DQ
Page 2
FRONTLINE MINISTRIES(ENFIELD)TRUST
The Trustees are pleased to present their Annual Report with the independently examined accounts of Frontline Ministries (Enfield) Trust for the year ended 31 December 2021
FINANCIAL REVIEW
The results of the year’s operation are set out in the attached financial statements. The net movement in funds for the year 2021 amounted to a surplus of £1,149 and a surplus of £9,331 in the year 2020.
RESERVE POLICY
The Charity Commission requires charities to determine and explain their policy for free reserves. The Trustees have reviewed its free reserve policy and have turned its entire unrestricted fund into an emergency reserve to enable Frontline Ministries (Enfield) Trust meet its obligations in the event of a shortfall in income or sudden upturn in expenditure.
RISK MANAGEMENT
The trustees have examined the major risk which Frontline Ministries (Enfield) Trust faces and believes that maintaining our free reserves at a reasonable level, combined with our annual review of the controls over key financial system will provide sufficient resources in the event of adverse conditions. The trustees have also examined other operational and business risks which we face and confirm that they have established systems to mitigate the significant risks.
FUNDS AVAILABLE
The present level of funding is adequate to support the continuation of the charity operations for the medium term, and trustees consider the financial position of the charity to be satisfactory.
VOLUNTEERS
Frontline Ministries (Enfield) Trust recognizes the significant contributions made by volunteers.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes an unincorporated charity.
Objectives and Principal Activities:
The overall objectives of the charity are:
-
The advancement of the Christian Faith in accordance with the teachings of the bible.
-
The advice and relief to the poor, aged, sick and those in conditions of hardship and distress.
-
Other charitable purposes as the Trustees may determine from time to time
Page 3
FRONTLINE MINISTRIES(ENFIELD)TRUST
Report of the Trustees for the year ended 31 December 2021
ACHIEVEMENT AND PERFORMANCE FOR THE YEAR 2021
Charitable activities
Due to the ongoing COVID 19 restrictions activities were limited in order to comply with the regulations.
However, in March 2021 we were able to hold a range of online prayer meetings which were specifically meant for the UK
The first round of meetings entailed a online discussion with known ministers of prayer around the UK. These meetings were designed to stir up the desire to pray for revival in the U.K.
Beginning 15[th] March till Pentecost Sunday the ministry arranged a daily prayer on zoom from 5am to 8am. This witnessed about 120 people registering to join us in the prayer for revival for the UK.
At the end of the 70 days, on Pentecost Sunday about 50 of us meet together face to face in London. This sparked off new relationships, as many of us had only met on Zoom.
The prayers were extended for 30 days. The same method of praying from 5am to 8am on zoom was employed. At the end of the 30 days we held a 2 day residential retreat at High Leigh Conference Centre. Again over 50 people were in attendance and some of them we were meeting for the first time.
Our Barnet church and midweek service were moved to online due to COVID 19 regulations. Even when the COVID restrictions were lifted we were unable to return to the rented property and stayed online with the view that we will search for a building that is closer.
The Flaming Torch Conducted 3 sessions of School of Ministry and Missions which was online. This was geared to equip the church to effectively do the work of ministry. Our Tuesday prayer meetings moved permanently to face to face since March
Saturday, 21[st] August the Awaken youth event was held at Action Théâtre in Islington. This witnessed young adults coming to get fired up for the gospel.
The Acts of Mercy which was initiated in December 2020 went fully live. The support for 11 widows started on a monthly basis, each widow getting enough to take care of their children and feed themselves. Most of the recipients are from local churches and have been verified by their pastors of their condition.
STATEMENT OF BOARD OF TRUSTEES RESPONSIBILITIES
The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and
Page 4
FRONTLINE MINISTRIES(ENFIELD)TRUST
Report of the Trustees
Reports) Regulations 2008 and the provisions of the trust deed requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charity SORP;
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make judgements and estimates that are reasonable and prudent;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting 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 comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the board of trustees on 31 October 2022 and signed on its behalf by:
Adeniyi John - Trustee
Page 5
Independent Examiner's Report to the Trustees of FRONTLINE MINISTRIES(ENFIELD)TRUST
I report on the accounts for the year ended 31 December 2021 set out on pages four to nine.
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 2011 (the 2011 Act)) and that an independent examination is required.
Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:
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examine the accounts under Section 145 of the 2011 Act
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to follow the procedures laid down in the General Directions given by the Charity Commission (under Section145(5)(b) of the 2011 Act); and
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to state whether particular matters have come to my attention
Basis of the 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:
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(1) which gives me reasonable cause to believe that, in any material respect, the requirements
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to keep accounting records in accordance with Section 386 and 387 of the Companies Act 2006; and
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to prepare accounts which accord with the accounting records, comply with the accounting requirements
- of Sections 394 and 395 of the Companies Act 2006 and with the methods and principles of theStatement of Recommended Practice: Accounting and Reporting by Charities
have not been met; or
- (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accountsto be reached.
Signature ………………………………………………… Date…31/10/2022…………
Bim Ewetade FCCA,BA (Hons) Accounting & Finance, AFA ,MIPA/AFTA Independent Examiner 100 Spencer Way Redhill, Surrey RH1 5DQ
Page 6
FRONTLINE MINISTRIES(ENFIELD)TRUST
Statement of financial activities
| Notes | Unrestricted funds |
Restricted income funds |
Unrestricted Funds | Unrestricted Funds | ||
|---|---|---|---|---|---|---|
| £ | £ | £ | £ | |||
| Incoming resources | 2 | Yr 2021 | Yr 2020 | |||
| Donations & Legacies | 46,131 | 46,131 | 51,328 | |||
| Other Incoming Resource | - | |||||
| Other(gain sale of asset) | - | |||||
| Gift Aid | - | 8,733 | ||||
| Total | 46,131 | - | 46,131 | 60,061 | ||
| Resources expended(Note 6) | ||||||
| Expenditure on: | ||||||
| Charitable activities | 44,441 | - | 50,260 | |||
| 44,441 | ||||||
| Support Costs | 542 | - | 470 | |||
| 542 | ||||||
| Total | ||||||
| 44,983 | - | 44,983 | 50,731 | |||
| Net income/(expenditure) before investmentgains/(losses) |
||||||
| 1,149 | - | 1,149 | 9,331 | |||
| Netgains/(losses)on investments | - | - | - | - | ||
| Net income/(expenditure) | ||||||
| 1,149 | - | 1,149 | 9,331 | |||
| Net movement in funds | ||||||
| 1,149 | - | 1,149 | 9,331 | |||
| Reconciliation of funds: | ||||||
| Total funds brought forward | 16,290 | - | 6,959 | |||
| 16,290 | ||||||
| Total funds carried forward | ||||||
| 17,438 | - | 17,438 | 16,290 |
CONTINUING OPERATIONS
All incoming resources and resources expended arise from continuing activities.
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FRONTLINE MINISTRIES(ENFIELD)TRUST
| Balance sheet as at 31 | Balance sheet as at 31 | Balance sheet as at 31 | December 2021 | December 2021 | December 2021 |
|---|---|---|---|---|---|
| Unrestricted funds |
Restricted income funds |
2021 | 2020 | ||
| £ | £ | £ | £ | ||
| Fixed assets | 1 | 0 | 0 | ||
| Current assets |
|||||
| Cash at bank and in hand(Note 24) |
B09 | 18,454 | - | 18,454 | 16,760 |
| Total current assets |
B10 | ||||
| 18,454 | - | 18,454 | 16,760 | ||
| Creditors: amounts falling due within one year |
B11 | ||||
| 1,016 | - | 1,016 | 470 | ||
| Net current assets/(liabilities) |
B12 | ||||
| 17,438 | - | 17,438 | 16,290 | ||
| Total assets less current liabilities |
B13 | ||||
| 17,438 | - | 17,438 | 16,290 | ||
| Creditors: amounts falling due after one year (Note 20) |
B14 | - | - | - | - |
| Provisions for liabilities |
B15 | - | - | - | - |
| Total net assets or liabilities |
B16 | ||||
| 17,438 | - | 17,438 | 16,290 | ||
| Funds of the Charity |
|||||
| Restricted income funds |
B18 | - | - | - | - |
| Unrestricted funds |
B19 | 17,439 | 17,439 | 16,290 | |
| Revaluation reserve |
B20 | - | - | ||
| Total funds | B21 | ||||
| 17,439 | - | 17,439 | 16,290 |
Page 8
Signed by one or two trustees on behalf of all the trustees
| Name & Signature | Date of approval dd/mm/yyyy |
|
|---|---|---|
The financial statements were approved by the Board of Trustees on 31 October 2022 and were signed on its behalf by:
Adeniyi John -Trustee
Page 9
FRONTLINE MINISTRIES(ENFIELD)TRUST
Notes to the Financial Statements for the Year Ended 31 December 2021
1. ACCOUNTING POLICIES Accounting convention
The financial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), the Charities Act 2011 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities.
Incoming resources
All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
Resources expended
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to headings, they have been allocated to activities on a basis consistent with the use of resources.
Allocation and apportionment of costs-Charitable activities
Costs of charitable activities are those costs relating to the activities carried out to meet the objectives of the Charity. These include both directly attributable costs and apportioned support costs.
Governance costs
Governance costs are the costs associated with the strategic direction of the Charity and with meeting regulatory responsibilities
Tangible fixed assets
Depreciation is normally provided at the following annual rates to write off each asset over its estimated useful life.
Church Equipment - 20% on straight line Office Equipment - 20% on straight line
There are presently no capitalized assets on the records of the Charity.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for restricted purposes.
The Charity presently has no restricted funds.
Page 10
FRONTLINE MINISTRIES(ENFIELD)TRUST
Notes to the Financial Statements – continued for the Year Ended 31 December 2021
| 2. | 2. | ||||||
|---|---|---|---|---|---|---|---|
| Incoming resources | Unrestricted fund |
Restricted Fund |
|||||
| Donations & Legacies | Yr 2021 |
Yr 2020 |
|||||
| Acts of Mercy Support | |||||||
| 4,840 | - | 4,840 | 808 | ||||
| Conference Registration Fee |
|||||||
| 3,497 | - | 3,497 | 7,610 | ||||
| Offering | |||||||
| 12,654 | 12,654 | 13,749 | |||||
| Partner Giving | |||||||
| 4,360 | 4,360 | 3,820 | |||||
| Special Giving | |||||||
| 2,635 | 2,635 | 3,106 | |||||
| Thanksgiving | |||||||
| 680 | - | 680 | 810 | ||||
| Prophetic school | |||||||
| Tithes | |||||||
| 17,466 | - | 17,466 | 21,425 | ||||
| Other Incoming Resource | |||||||
| Other (gain sale of asset) | |||||||
| Gift Aid | |||||||
| - | 8,733 | ||||||
| Total | |||||||
| 46,131 | - | 46,131 | 60,061 |
3. CREDITORS
This represents the amount accrued as professional fees for independent examination and professional charges on annual accounts and reports.
| Independent Examination and Accountancy fee | 2021 | 2020 | |
|---|---|---|---|
| £542 | £470 | ||
| 4. | Trustees Remuneration & Benefits | ||
| 2021 | 2020 | ||
| £7,700 | £7,800 |
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2021.
Page 11
FRONTLINE MINISTRIES(ENFIELD)TRUST
5. CASH IN HAND & AT BANK
| 2021 | 2020 | ||
|---|---|---|---|
| £ | £ | ||
| Account | 1- Parent | 4726 | 7114 |
| Account | 2- Prophetic School | 361 | 133 |
| Account | 3- Acts of Mercy | 1851 | 788 |
| Account | 4- Barnet | 11,515 | 8725 |
There were no employees during the year
Page 12
FRONTLINE MINISTRIES(ENFIELD)TRUST
Detailed Statement of Financial Activitiesfor the Year Ended 31 December 2021
| Incoming Resources Non-Profit Income Acts of Mercy Support Conference Registration Fee Gift Aid Offering Outreach/ Crusade Income Partner Giving Prophetic School Retreat Special Giving Thanksgiving Tithes |
2021 |
|---|---|
| Total Non-Profit Income Other Income Gain on asset disposal Total Other Income Net Other Income |
|
| Total Income | |
| Resources Expended Advertising/Promotional Auto- Running costs Conferences Equipment Equipment Storage Rent Gifts Honorarium Hospitality Missions Benevolent Giving Missions - Acts of Mercy Office/General Administrative Expenses Training Outreach/ Crusade Phone Costs Printing, Postage and Stationery Repair and maintenance Stipend / Allowances Subscription Hall Hire |
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FRONTLINE MINISTRIES(ENFIELD)TRUST
| Insurances £179 £0 £0 Travel and Accommodation £0 £0 Tuesday Hall Hire £7400 £0 £7,400 Depreciation £254 £0 £254 Total Resources Used £44436 £0 £44436 Governance Independent Examination £542 £0 £542 Total Expenditure £44978 £0 £50,731 |
£0 £122 £7,200 £0 £50,261 £470 £50731 |
|---|---|
Page 14