2020-12-31-accounts - Upper Room Foursquare Chapel

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Upper Room Four Square Chapel Charity No 1072013

Report & Financial Statements 31st December 2020

Coker Isah & Co. Chartered Certified Accountants

Upper Room Four Square Chapel

Charity No 1072013
INDEX
	Page
Charity details	1
Trustees' Reports	.2- 3
Independent Examiners Report	4
Statement of Financial Activities	5
Balance Sheet	6
Notes to Financial Activities	7…8
Detailed Statement of Financial Activities	Appendix

Page 1 Upper Room Four Square Chapel

Charity Details

Charity No 1072013

MANAGEMENT COMMITTEES

Trustees Rev (Mrs) Victoria Olayemi Adekanmbi Elewechi Ngozi Okike Rufus Adegunloye Ojeh Bameyi Umoru
Secretary Ojeh Bameyi Umoru Charity Number 1072013 Registered Office 525-529 Barking Road London E13 9EZ

Accountants Coker Isah & Co. Chartered Certified Accountants 74 Church Road Crystal Palace London SE19 2EZ Place of Worship 525-529 Barking Road London E13 9EZ Bankers Barclays Bank Plc Stratford London E15

Page 2 Upper Room Four Square Chapel

TRUSTEES' REPORT for the year ended 31 Dec. 2020

The trustees present their report together with the financial statements of the charity for the year ended 31 Dec 2020 . The financial statements have been prepared in accordance with the accounting policies set out on page 7 and comply with the charity's trust deed and applicable law.

Trustees

The trustees named on page 1 have served throughout the year. Appointment of trustees is governed by the Trust Deed of the charity. The Board of trustees is authorised to appoint new trustees to fill vacancies arising through resignation or death of an existing trustee.

Investments powers

The Trust Deed authorises the trustees to make and hold investments using the general funds of the charity, but no such investments are presently held.

Constitution, objects and policies

The principal activity of the organization was that of providing advancement of Christian faith

The policy of the charitable Trust continues to be to seek additional donations to continue to run the organisation

The trustees take the day responsibility for running the charity.

Development, activities and achievements

The trustees consider that the performance of the charity this year has been most satisfactory and the average number of members has increased once again this year.

Financial review

Funds available are sufficient to permit the Trust to continue in operation in the medium term, given the continued support of the members. Should this support not continue in the longer term, further financial support would need to be sought to replace it.

Risk Management

The trustees actively review the major risk which the charity faces on a regular basis and believe that maintaining reserves at current levels, combined with an annual review of the controls over key financial systems, will provide sufficient resources in the event of adverse conditions. The trustees have also examined other operational and business risks faced by the charity and confirm that they have established systems to mitigate the significant risks.

Page 3

Upper Room Four Square Chapel Charity No 1072013

TRUSTEES' REPORT for the year ended 31 Dec. 2020

Future Developments

The charity's activities has increased during the year under review . The trustees are seeking to extend the charity's activities and are pursuing a number of activities to enable this to happen

Reserve policy

It is the policy of the charity to maintain unrestricted funds at a level which provides sufficient funds to cover management and administration and support costs. Unrestricted funds are maintained at least at this level throughout the year.

Statement of trustees' responsibilities

Law applicable to charities in England Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the charity's financial activities during the year and of its financial position at the end of the year. In preparing those financial statements, the trustees are required to:

a) Select suitable accounting policies and apply them consistently;

b) make judgments and estimates that are reasonable and prudent;

c) state whether applicable accounting standards and statements of recommended practice have been followed, subject to any departures disclosed and explained in the financial statements;

d) prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in operation.

The trustees are responsible for keeping accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the charities Act 2011 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.

Approval

This project was approved by the trustees on 09/ 10/ 2021 and signed on their behalf

signed Rev (Mrs) Victoria Olayemi Adekanmbi Trustee

Page 4

Upper Room Four Square Chapel

Independent Examiner's Report on the Accounts

Report the trustees and members of Upper Room Four Square Chapel

Charity No 1072013

The accounts for the year ended 31 December 2020 Set out in pages 4-6

Respective responsibilities of the trustees and examiner

The trustees are responsible for the preparation of the accounts, you consider that an audit

is not required under section 144 of the charities 2011 (the act) and does not apply, and that

independent examination is needed

It is my responsibility to

examine the accounts under section 145 of the Charities Act
to follow the procedure laid down in the General Directions given by the Charity Commissioners under section 145 (5) (b) of the 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 Commissioners .

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 explanation 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 I do not express an audit opinion on the view given by the accounts.

Independent examiner's statement

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

(1) which give me reasonable cause to believe that in any material in respect the requirements
to keep accounting records in accordance with section 130 of the Charities Act and
to prepare accounts accordance with the accounting records and to comply with the accounting requirement of the Act

have not been met.

(2) to which, in my opinion ,attention should be drawn in order to enable a proper understanding of the accounts to be reached.

signed

James Coker Dated 07/ 10 / 2020

MBA FCCA

Relevant qualifications Coker Isah & Co. Chartered Certified Accountants

74 Church Road London SE19 2EZ

Page 5

Upper Room Four Square Chapel

Statement of Financial Activities

For the year ended 31 December 2019

Incoming & Expenditure

Income: Voluntary Sources- Donation Otherr Income- HMRC_JRS Council Grant TOTAL INCOME Direct Charitable Expenditure: Direct Charitable Expenditure: TOTAL EXPENDITURE Net Income\ ( Expenditure) Fund Balance B/F Fund Balance C\F	Unrestricted Fund 2021 88733 4067 10380 2262 105442 88593 88593 16849 361614 378463	Unrestricted Fund 2019 74010 12136 0 86146 80553 80553 5593 356021 361614	Unrestricted Fund 2018 73306 22285 0 95591 88811 88811 6780 349241 356021	Unrestricted Fund 2017 104609 4188 0

				108797
				77327
				77327
				31470 317771
				349241

The notes on page 6 form part of these accounts

page 6

£ 13,887	£ 4,717	2019 £ 386,621 -23,415
13,887	4,717
47,281	28,132
47,281	28,132

		363,206
		356,021 1,592 5,593
		363,206

Approved on 07/10/2021 and singed on behalf of the Trustees

signed Rev (Mrs) Victoria Olayemi Adekanmbi Trustee Member

Page 7 Upper Room Four Square Chapel

Notes to the Financial Statements For the year needed 31 December 2019

1 Accounting policies

1.1 Accounting convention

The financial statements are prepared under historical cost convention and in accordance with The Financial Reporting Standard for Smaller Entities (FRSSE) (effective Jan 2005) and statement of Recommended Practice (SORP 2005) ,and with the Charity Acts 2011

1.2 Incoming Resources

The Income represent the total donation and Income Tax Claimed excluding Value Added Tax , receivable during the year

1.3 Depreciation

Depreciation is provided on tangible Fixed Assets at rate calculated to write off the cost less residual value of each assets over its expected useful life as follows:-

Fixture fitting and equipment 25% reducing balance basis

1.4 Donation

Donation receivable are credited to the Statement of Financial Activities (SOFA)) in the year for the year which they are received.

1.5 Resources Expended

Resources Expended are included in the Statement of Financial Activities (SOFA) on an accrual basis inclusive of VAT

1.6 Unrestricted Funds

Unrestricted Funds are donations and other incoming resources received or generated for the charitable purposes

1.8 Restricted Funds

Restricted Funds are funds received which can only be used for the specific purpose as laid out by the donor Expenditure which meets this criterion is identified to the fund, together with a fair allocation of overheads costs. During the year there are no restricted fund.

2 Income

The total income of the organization for the year has been derived from its principal activity wholly undertaken in the UK

3 Operating surplus 2020 2019 Operating surplus is stated after charging £ £ Depreciation of tangible assets 9775 752

page 8

Upper Room Four Square Chapel

Notes to the Financial Statements

For the year needed 31 December 2019

4 Fixed Assets Freehold Land Cost 1 Jan. 2020 384,363 Additions 31 Dec. 2020 384,363 Depreciation 1 Jan. 2020 0 Charge for the year 0 31 Dec. 2020 0 Net Book Values 31 Dec. 2020 384,363 31 Dec. 2019 384,363 5 Creditors amount falling due within one year Loan Loan Inland Revenue Creditor and accrual 6 Summary of Assets by Fund Unrestricted funds Restricted Fund- Building fund Net Income\ ( Expenditure) Total	Fixture Fittings equipment 6,072 36,843 42,915 3,814 9,775 13,589 29,326 2,258 2,020 £ 14,650 26,848 3,483 2,300 47,281 361,614 1,832 16,849 380,295	Total 390,435 36,843
		427,278
		3,814 9,775
		0 13,589
		413,689
		386,621
		2,019 £ 21,762 0 3,453 2,917

		28,132
		356,021 1,592 5,593
		363,206

7 Trustees Remuneration Remuneration was paid to only one of the trustees under PAYE Sceheme duri

Appendix

Upper Room Four Square Chapel Statement of Financial Activities

For the year ended 31 December 2019

Incoming & Expenditure Income: Voluntary Sources- Donation Other Income HMRC_JRS Council Grant TOTAL INCOME Direct Charitable Expenditure: Wages, salaries & NIC Staff pension Staff training Rent and rent Insurance Hire of equipment Loan interest Computer consumables Light heat and water Repair and maintenance Members welfare Printing postage and stationery Advertising Telephone Health & Safety Oversea travel Travelling and entertainment Entertain social activities and conference Legal and professional Accountancy Bank charges General expenses Charitable donation Subscription Depreciation on FF and equipment TOTAL EXPENDITURE NET INCOME ( EXPENDITURE) FUND BALANCES B/F FUND BALANCES C\F	Unrestricted Fund 2021 £ 88733 4067 10380 2262 105442 31747 7260 340 831 2524 513 2559 1360 2975 3193 11800 136 588 850 393 1280 1845 6254 222 1200 117 635 196 9775 88593 16849 361614 378463	Unrestricted Fund 2019 £ 74010 12136 0 86146 33133 7200 120 1611 2506 513 1386 4553 1719 11700 96 0 850 2250 2033 7764 222 1100 0 175 870 0 752 80553 5593 356021 361614	Unrestricted Fund 2018 £ 73306 22285 0 95591 31385 7200 1019 912 2324 513 1191 4068 6194 10405 482 0 896 2635 2162 12316 752 1100 7 204 1860 461 725 88811 6780 349241 356021	Unrestricted U Fund 2017 £ 104609 4188 0 108797 28983 7200 495 1176 1450 513 536 2915 3868 11650 1094 0 683 1216 12986 527 1100 0 150 255 314 216 77327 31470 317771 349241

The notes on page 6 form part of these accounts