Report and Financial Statements For the year ended 31 st December 2021 HOLY ANOINTING CHRISTIAN CENTRE Charity No: 1075314 HOLY ANOINTING CHRISTIAN CENTRE ort of the rustees for the Year Ended 31 st D mber 2021 Contents Legal and Administrative Informatson Report of the Trustee st2￿ment of Financial Activities Balance Sheet Notes forming part of che financial statements The following page does not form part of the Statutory Accounts Income and Expenditure Account HOLY ANOINTING CHRISTIAN CENTRE eference and Administrative information Cha HOLY A OINTING CHRISTIAN CENTRE harit Re istration Number. 1075314 istered Office and eration Address: 105-107 Clarence Road London E5 8EE DirectorslTrustees: Bukola Animasahaun Pastor Felix B Akinbola Susan Adetimehin Omdwunmi Aklmbola Inde endent Exa iner: Samuel Durojaiye FCPA Samuelson and Co UK Ltd Accountants & Tax Consultants S96 Kings12nd Road Hackney, London E8 4AH Banker HOLY ANOINTING CHRISTIAN CENTRE ort of the Trustees for the Year Ended 31 st December 2021 Our Aims and O ctives Purpose and Alm5 Our Charity's purposes as set out In the objects contained in the Declardcion of Trust are .' l ) to advance the christian religion 21 to advance religious education on accordènce with the doctrines and principles of the christian faith by means of bible classes, Sunday schools and such other ￿aYs as the trustee5 shall from time to time decide., 3) to relieve poverty Ensuring Our Work Dèlivers Our Aims We review oui- aims, objectives and activitie5 each year, Thi5 review looks at what we achieved nd the outcomes of our work in the previous 12 months. The review loolcs at the Success of each key activity and the benefits they have brought to those groups of people we are set up to help. The review also helps us ensure our aim , objectives and activities remained focused on our sttted purpose5. We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aim and objectives and in planning our future activities. In parcicular, the trUs￿e5 cot)sider how planned act¢vities will contribute to the aims and objectives they have set. The Focus ofour Work Our main objective5 for the year Continued to be the advance of the Christian religion and the relieve of poverty and sicknes5. The strategies we used to meet these objective5 included.. l. Provision of Weekly Church Services on Wednesdays and Sundays to minister to (he physical, spiritual and material needs of the congregants. HOLY ANOINTING CHRISTIAN CENTRE ort of the Tvustees for the Year Ended 3 1st December 2021 2. Provision of Special Events and Meetings such 3s Annual Thanksgiving Seryice for grand fellowship for all and sundry in the community. 3. Focusing on the Material needs of certain members undergoing difficult financial situations. 4. Working with other Chi-istian agencies and Churches in London to advance the preaching of the Gospel. 5. Provision of Pastoral Care for Congregants and other 17)embers of the community How Our Activitie$ Deliver Public Benefit Our main activities and who we try to help are described below. All our charitable activities focus on the advan¢ement of the Christian religion and the I'elief of poverry. Who used and benefited from our Senfices Our Church Services are atlended by both the regular congregant and the visitor or seeker from the commltnity mind. We minister to the spiritual needs of members in the community who are attending our Services. We have also helped relief poverty 2nd hardship amongst both regular and visitors who are Suffering from 3 period of financial h2rdship due to unemployment and lack of financial resource5. Financial Review The charity has been able to successfully raise a total income of £25315 during the period. {£17200 in 2020) Principal Funding Sources The principal funding sources for the chai-ity are currently by way of Donations and Gifts from congi'egants through the offering basket passed during Church service5 and event%. Investment Policy The Charity has cash that are set out in the Charity balance sheets. The objective of the investment policy 15 to invest in Cdsh at banlis where che capical is protected. No bank interest Was achieved in the period The Charlty currendy has 2 policy of keeping any surplus liquid funds in cash at banks where Immedia￿ access and security of funds is guaranteed. HOLY ANOINTING CHRISTIAN CENTRE ort of the rustees for the Year Ended 31 st December 2021 Reserves Policy The Board of Trtjstees has examined the Charity's requirements for re5erYe5 in light of the risks to the organisation. It has es¢ablished a policy whereby the unrestricted fund5 not Committed or Investsd in rangible fixed assets held by the charity should be between 3 and 6 months of the expenditLÉre. The expenditure for 2021 was £22,3113nd therefore the targeted reserves should be between £5.578 and £ 11,156 in general funds. The reserves are needed to meet the working capital requirements of the charity and the trustees are confident that at this level they would be able to continue the current activities Df the Charity in the event of a significant drop in funding. This general reserye policy was met. Effort would continue to be made to improve the income. Plans for Future Period5 The Charity plan5 continijing the activities outlined above in the forthcoming years subject to sat15factory funding arrangement5. Struc ure Goyernanc and Mana ement Governing Document The Organi5ation is a charitable organisation constituted under a Corb5titucion dated 5th April 1995 and registered as a charity on 30th April 1999. The charity was established under J Constitution which established che objects and powers of the charity and is governed under its terms. In the evenc Df the Charity wound up member5 are required to 50 decide by three-quarters majori¢y. Recruitment and Appointment of Trustees The trustee5 who are 2150 charity trustees for the purFx)ses of charity law are in charge of the strategic direction of the charitable trust. Under the requirements of the Declaracion of Trust the trustees are elected to serve for 3 period of three years after which they must be re-elected at the next Annual Genei'21 Meeting, All trustees except the Senior Pastor give their time voluntarily and receive no benefits from the charity. HOLY ANOINTING CHRISTIAN CENTRE ort of the Trustees for the Year Ended 315t December 2021 Due to the nature of Church worl<, trustses appointed have been 50 selected on the basis of their faith, strength of Character, ski115 set in the area of bL¢5iness management 2nd growth and commitment to the vision of the charity. Trustee5 Induction and Training In the organisation, both new and old trustees 2re required and encouraged to ￿t￿nd a series of short crdining 5e5sions to famS1i8rise themselves with the charity and the context within which it operates. These sessions would be jointly led by che Chair of Trustees and the Chief Executive or Senior Pastor of the Ch2rity and cover: The Obligations of Trustees The Main documents which set out the operational fratnework for the charity including the Declaration of Trust Resourcing and the current financial p05i¢ion as set out in the latsst published account5 Future plans and objectives Memorandum and Articles and (he12te5c fin3nci21 statement and essential info bool of the 201 l Act. and ' to state whether particular matters have come to my attention. Basi5 of independent examinerfs report My examination wd5 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 with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seelcing exp12nations from you a5 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 stateTnent below. HOLY ANOINTING CHRISTIAN CENTRE Inde endent Examiners Re ort to the Trustees of HOLY ANOINTING CHRISTIAN CENTRE for the ear ended 3 1st December 2021 In connection with my examination, no matter has come to my 2ttsntion'. ( l ) which gives me reasonable cause to believe tha¢ in any material respect the requirements: to keep accounting record5 in accordance with Section 386 of the Companies Act 2006,. 2nd to prepare accounts which accord with the accounting records, comply with the accounting requirements Df section 396 of che Companies Act 2006 and with che methods and principles of the Statement of Recommended Prnctice.. Accounting and Reporting by Charicies haye not been met: or (21 to which, in my opinion, 2ttencion should be drawn in order to enable a proper understanding of the accounts to be reached. Samuel Durojaiye FCPA Samuelson & Co UK Ltd Accountants & Tax Consult3nts 596 King51and road Hackney, London E8 4AH HOLY ANOINTING CHRISTIAN CENTRE Statement of Financial Activities ncludin ear ended 31 st December 2021 Income and Ex enditure Account for the 2021 2021 2021 2020 Unrestricted Restricted Funds Fund5 Total Total Funds Funds Notes Incomin Incoming resources from generated funds: Voluntary Income., Donation5 and Offerings Other irbcome resources 25,315 25,315 17,200 Total incoming resource5 Rèsources expended 25,315 25,315 17,200 Cost of eneratin Costs of generatillg voluntary income unds 18,243 18,243 11,762 Charity activitie5 4.068 4,068 420 Goveynance Costs 194 Total resources expended 22,311 22.311 12,376 Net Incoming resources before other recognised gains 3,004 3,004 4,824 Net movement in funds Reconciliation of Funds Total funds brought forward 3,004 3,004 4,824 6,521 6,521 1 ,697 Total funds carried forward 9,525 9,525 6,521 The statement of financial activities includes all gains and1055es in the year. All incoming resources and resources expended derive from continulng activities. HOLY ANOINTING CHRISTIAN CENTRE Balance Sheet s at 31 st December 2021 Notes 2021 2020 Fixed assets T3n8ible 35sets Currents assets Prepayments Cash at bank and in hand 9,525 9,525 6,521 6,521 Creditors: Amounts fallin within one due Net Current A 9,525 6,521 Net Assets 9,525 6,521 Fund Unrestrictrd Funds 9,525 &,521 Total funds 9,525 6,521 Approved by the Board of Trustees on the l Oth August 2024 and signed on its behalf by: Felix B Akinbola Trustee The notes on pages 9 to 12 form part of these financial statements. HOLY ANOINTING CHRIST AN CENTRE Notes formin art of the financial statements for the ear ended 3 1st December 2021 l. Accounting Policies The principal accounting policies are summarised below. The accounting policles have been applied consistently throughout the year and in the preceding year. (a) Basis of Accountin8 The financial statements have been prepared under the historical cost convention, as modified by inclusion of fixed as5et5 investment5 at market value. and in accordance with the Statemen¢ of Recommended Practice.. Accounting and Reporting by Charities issued in March 2005. (b) Fund Accountin8 Unrestricted fund5 are available for use at the discretion of the trustces in furtherance of the general objectives of the charity. Unrestricted funds include a revaluation r¥erYe representing the restatement of inYe5tment assets at marlcet values. Designated fLJnds are unrestricted funds earmarked by the Trustees for particular purposes. Restricted funds are subjectcd to restrictions on their expenditure imposed by the donor or through the term5 of an appeal. (c } 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 reasot)able accuracy. The following specific policies are applia to particular categories of income.. Voluntary income is received by way of grants, donations and gifts and is included in full In the Statement of Financial Activicies when receivable. Donated services and facilities are included at the value to the charicy where this can be quantified. The valLEe of services provided by volunteers has noc been included in these accourhts. Invested income is included when receivable. Incoming resources from charitable trading activity are accounted foi- when ear-ned. 13 HOLY ANOINTING HRISTIAN CENTRE art of the financial statements for the Note5 formin ar ended 3 1st December 2021 (d> Resources expended Expenditure is recognised on an accrual basis as a liability 15 incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates.. Cost5 of generating fund5 comprise the coscs associated with attracting voluntary income and the cost5 of trading for fundr2ising pui-poses. Charitable expenditure comprises those costs incurred by the charity in the delivery of its acuvities and service5 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. Governan¢e cost5 include those costs associated with meeting the constitutional and statutory requirements of the charity and include the 2ccount2ncy fees and c05ts linlced to the stratcgic management of the charity. All costs are allocated between the expenditure categories of the Sofa on a ba515 designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, others are aptx)rctoned on an appropriate b25is e.g. floor 2reas, per capita or estimated usage as set out in Not￿ 3-5. (e) Fixed Assets Fixed assets (excluding investments) are sta￿d at C05t less accumulated depreciation. The costs of minor additions or those costing below £ 1,000 are not capitali5ed. Depreci2tion is provided at rates calculated to write off the cost of each asse¢ over it5 expected useful life, which in all cases IS estimatrd at 4 years. Investments held a5 fixed assets are revalLsed at mid market valLJe at the balance sheec date and the gain or loss (aken to the Statement of Financial Acuvities. 2. Donati Unrestricted Restricted 2021 Total 2020 Total Donations -Tithes and Offering Other Income 25,315 25,315 17,200 25,315 25,315 17,200 14 HOLY ANOINTING CHRISTIAN CENTR Notes formin art of the financial statements for the ear ended 31 st Dec mber 2021 3. Costs of Gener in Voluntar Income Basis of Church Support C05t Governance 2021 2020 Allocation Work Bank Charges Administration Direct 24 Direct 573 573 588 Support Costs Premises Direct Direct 17,670 17,670 18,243 18,243 11,762 4. Charitabl ctivities Ministry Direct 4,068 4,068 420 4,068 4,068 420 5. Goyernance Cost Profe55i0nal Fees Dirert 194 194 Total Resources Expended 22,311 22,311 12,376 tee Remuneration & Related Pa nsattio No member of the Board of Direccors received any remuneration during the year. tion A5 a charity, HOLY ANOINTING CHRISTIAN CENTRE is exempt frorn tax on income and gains lalling within section 505 of the Taxes Actl 988 or 5256 of the Tax2tlon of Chargeable Gain5 Act 1992 to che extent that these are applied to its charitable objects. No tax charges have risen in the Charity. HOLY ANOINTING CHRISTIAN CENTRE Notes formin art f the financial statements for the ear ended 31 st December 2021 8. Tan ible FIX Assets Fixture and Fittings Equipment 2021 Total Cost At I st January 2020 Additions At 315t Decembei- 2021 2,025 2,525 4,550 2,025 2,525 4,550 Depreciation A¢ I st January 2020 Charge for the year At 31 st December 2021 2,025 2,525 4,550 2,025 2,525 4,550 Net Book Value At 31 st December 2021 At 31 st December 2020 reditor5: Arnounts fallin due within on ear 2021 2020 Accruals & Deferred Income . HOLY ANOINTING CHRISTIAN CENTRE Notes formin art of the financial statements for the ear ended 31 st December 2021 l O. Net incomin resou for the ear This Is stated after chargifig: 2021 2020 Depreciation Audit & Accountancy Fees I l. Analysis of Net Assets Between Fund5 General Designated Restricted Total Funds Funds Funds Funds Tangible Fixed Assets Current Assets 9,525 9,525 Current Liabilities Net Assets at 31 st July 2021 9,525 9,525 12. Movements in Funds At 1st January Incoming Outgoing 2020 Resources Resourcès [1￿¢ Gains] Transfer At 31 Deceml 2021 Restricted Funds: Total Restricted Funds Unrestricted Funds: General Funds 6,521 25,315 22,311 9,525 Total Funds 6,521 25,315 22,311 9,525 17 . HOLY ANOINTING CHRISTIAN CENTRE Income and Ex enditure Account for the ear ended 3 1st December 2021 2021 2020 Voluntary Income; Other income 25,315 17,200 Total Income 25,315 17,200 LESS OVERHEADS remises Costs Ren¢ 17,670 17,670 11,150 Bank Char es Bank Charges 24 24 Administration Pastors Allowance Printing, Postage and Stationary Telephone Internet Heating Electricity Repairs 96 403 447 185 30 573 588 Minist Charitable donations Evangelism and Promotion Television Licence 2nd expens Event5, Seminars & Conferences 1,080 2,768 420 220 4,068 420 18 . HOLY ANOINTING CHRISTIAN CENTRE Income and Ex enditure Accou for the ear ended 31 st December 2021 2021 2020 Professional Fees Audit & Accountancy Fees Legal Fee 194 194 ovt Cost5 Travel & motor expense5 Insurance Depreciation Total Expenditure SurpluslDeficit for the year Surplus brought forward Surplus carried forward 22,311 3,004 6,S21 9,525 12,376 4,824 1.697 6,521 This p2ge does not form part of the statutory accounts.