REGISTERED CHARITY NUMBER: 1079424
REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 FOR PAROLE DE FOI
Appiatse & Associates Chartered Certified Accountants 191 Waltham Way Chingford London E4 8AG
PAROLE DE FOI
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
| Page | |
|---|---|
| Report of the Trustees | 1 |
| Independent Examiner's Report | 2 |
| Statement of Financial Activities | 3 |
| Balance Sheet | 4 |
| Notes to the Financial Statements | 5 to 8 |
| Detailed Statement of Financial Activities | 9 to 10 |
PAROLE DE FOI
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021
The trustees present their report with the financial statements of the charity for the year ended 31 March 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
1079424
Principal address
12 Broomfield House Massinger Street Walworth London SE17 1SY
Trustees
Pastor M K Doue S R Akichi B P Pochal
Independent examiner
Appiatse & Associates Chartered Certified Accountants 191 Waltham Way Chingford London E4 8AG
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes an unincorporated charity.
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
Approved by order of the board of trustees on 8 June 2021 and signed on its behalf by:
Pastor M K Doue - Trustee
Page 1
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF PAROLE DE FOI
I report on the accounts for the year ended 31 March 2021, which are set out on pages three to eight.
Responsibilities and basis of report
As the charity's trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I have examined your charity's accounts as required under section 145 of the Charities Act 2011 ('the Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
My role is to state whether any material matters have come to my attention giving me cause to believe:
-
that accounting records were not kept as required by section 130 of the Act; or
-
that the accounts do not accord with those records; or
-
that the accounts do not comply with the accounting requirements of the Act; or
-
that there is further information needed for a proper understanding of the accounts.
Independent examiner's statement
I have completed my examination and have no concerns in respect of the matters (1) to (4) listed above and, in connection with following the Directions of the Charity Commission I have found no matters that require drawing to your attention.
Ekow Appiatse Appiatse & Associates Chartered Certified Accountants 191 Waltham Way Chingford London E4 8AG
8 June 2021
Page 2
PAROLE DE FOI
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021
| 31.3.21 Unrestricted fund Notes £ INCOMING RESOURCES Incoming resources from generated funds Voluntary income 154,566 RESOURCES EXPENDED Costs of generating funds Costs of generating voluntary income 96,720 Charitable activities Charitable services 4,830 Other resources expended 64,814 Total resources expended 166,364 NET INCOMING/(OUTGOING) RESOURCES (11,798) RECONCILIATION OF FUNDS Total funds brought forward 101,608 TOTAL FUNDS CARRIED FORWARD 89,810 |
31.3.20 Total funds £ 163,174 79,711 3,279 70,358 |
|---|---|
| 153,348 | |
| 9,826 91,782 |
|
| 101,608 |
The notes form part of these financial statements
Page 3
PAROLE DE FOI
BALANCE SHEET AT 31 MARCH 2021
| 31.3.21 Unrestricted fund Notes £ FIXED ASSETS Tangible assets 4 1,332 CURRENT ASSETS Debtors 5 54,610 Prepayments and accrued income 23,930 Cash at bank 36,738 115,278 CREDITORS Amounts falling due within one year 6 (26,800) NET CURRENT ASSETS 88,478 TOTAL ASSETS LESS CURRENT LIABILITIES 89,810 NET ASSETS 89,810 FUNDS 7 Unrestricted funds 89,810 TOTAL FUNDS 89,810 |
31.3.20 Total funds £ 1,931 54,610 15,650 31,217 101,477 (1,800) 99,677 101,608 101,608 101,608 101,608 |
|---|---|
The financial statements were approved by the Board of Trustees on 8 June 2021 and were signed on its behalf by:
Pastor M K Doue -Trustee
The notes form part of these financial statements
Page 4
PAROLE DE FOI
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
1. ACCOUNTING POLICIES
Accounting convention
The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, 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 particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
| Plant and machinery | - 20% on cost |
|---|---|
| Fixtures and fittings | - 20% on cost |
| Motor vehicles | - 20% on cost |
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 particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.
Pension costs and other post-retirement benefits
The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
2. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2021 nor for the year ended 31 March 2020 .
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2021 nor for the year ended 31 March 2020 .
Page 5
PAROLE DE FOI
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 MARCH 2021
3. STAFF COSTS
| 31.3.21 £ Wages and salaries 48,685 Other pension costs 1,212 49,897 The average monthly number of employees during the year was as follows: 31.3.21 Pastors 3 No employees received emoluments in excess of £60,000. 4. TANGIBLE FIXED ASSETS Plant and Fixtures and Motor machinery fittings vehicles £ £ £ COST At 1 April 2020 and 31 March 2021 10,987 20,568 9,000 DEPRECIATION At 1 April 2020 9,502 20,122 9,000 Charge for year 377 222 - At 31 March 2021 9,879 20,344 9,000 NET BOOK VALUE At 31 March 2021 1,108 224 - At 31 March 2020 1,485 446 - 5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.3.21 £ Other debtors 54,610 6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.3.21 £ Bank loans and overdrafts 25,000 Other creditors 1,800 26,800 |
31.3.20 £ 50,334 1,212 |
|---|---|
| 51,546 | |
| 31.3.20 3 Totals £ 40,555 |
|
| 38,624 599 |
|
| 39,223 | |
| 1,332 | |
| 1,931 | |
| 31.3.20 £ 54,610 |
|
| 31.3.20 £ - 1,800 |
|
| 1,800 |
Page 6
PAROLE DE FOI
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 MARCH 2021
7. MOVEMENT IN FUNDS
| Net | ||||
|---|---|---|---|---|
| movement in | ||||
| At 1.4.20 | funds | At 31.3.21 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 101,608 | (11,798) | 89,810 | |
| TOTAL FUNDS | 101,608 | (11,798) | 89,810 | |
| Net movement in funds, included in the above are as follows: | ||||
| Incoming | Resources | Movement in | ||
| resources | expended | funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 154,566 | (166,364) | (11,798) | |
| TOTAL FUNDS | 154,566 | (166,364) | (11,798) | |
| Comparatives for movement in funds | ||||
| Net | ||||
| movement in | ||||
| At 1.4.19 | funds | At 31.3.20 | ||
| £ | £ | £ | ||
| Unrestricted Funds | ||||
| General fund | 91,782 | 9,826 | 101,608 | |
| TOTAL FUNDS | 91,782 | 9,826 | 101,608 | |
| Comparative net movement in funds, included in the above are as follows: | ||||
| Incoming | Resources | Movement in | ||
| resources | expended | funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 163,174 | (153,348) | 9,826 | |
| TOTAL FUNDS | 163,174 | (153,348) | 9,826 | |
Page 7
PAROLE DE FOI
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 MARCH 2021
7. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Net | |||
|---|---|---|---|
| movement in | |||
| At 1.4.19 | funds | At 31.3.21 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 91,782 | (1,972) | 89,810 |
| TOTAL FUNDS | 91,782 | (1,972) | 89,810 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement in | |
|---|---|---|---|
| resources | expended | funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 317,740 | (319,712) | (1,972) |
| TOTAL FUNDS | 317,740 | (319,712) | (1,972) |
Page 8
PAROLE DE FOI
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021
| INCOMING RESOURCES Voluntary income Offerings & Donations Gift aid Grants Total incoming resources RESOURCES EXPENDED Costs of generating voluntary income Ministers' salaries Pensions Outreach ministry Honorarium Musicians Charitable activities Bereavement / Welfare care Training Other resources expended Rent Light and heat Telephone Postage and stationery Sundry expenses Transportation Insurance Consultancy fees Plant and machinery Fixtures and fittings Loss on sale of tangible fixed assets Support costs Other 4 Accountancy and legal fees Total resources expended |
31.3.21 £ 96,189 37,327 21,050 154,566 154,566 48,685 1,212 45,037 - 1,786 96,720 4,830 - 4,830 56,630 - 264 - 199 1,722 - 3,600 377 222 - 63,014 1,800 166,364 |
31.3.20 £ 124,803 38,371 - |
|---|---|---|
| 163,174 | ||
| 163,174 50,334 1,212 23,278 2,270 2,617 |
||
| 79,711 2,979 300 |
||
| 3,279 55,946 1,027 770 32 750 2,200 223 - 377 222 7,011 |
||
| 68,558 1,800 |
||
| 153,348 |
This page does not form part of the statutory financial statements
Page 9
PAROLE DE FOI
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021
Net (expenditure)/income
| 31.3.21 £ (11,798) |
31.3.20 £ |
|---|---|
| 9,826 |
This page does not form part of the statutory financial statements
Page 10