Amazing Grace Christian Sanctuary
(A ‘Not-for-profit’ unincorporated organisation) Charity Number 1080654
Report of the Trustees
And
Financial Statements
For the Year Ended 31 December 2020
Amazing Grace Christian Sanctuary
Index to the Financial Statements For the Year Ended 31 December 2020
| Page | |
|---|---|
| Organisation Information | 3 |
| Report of the Members/Trustees | 4-5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 |
| Notes to the Financial Statements | 8-9 |
| Independent Examiners’ Report | 10 |
| Detail Financial Statements | 12 |
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Amazing Grace Christian Sanctuary
Organisation Information For the Year Ended 31 December 2020
Trustees: ( Management Committee ) Rev. Ezekiel Olumoroti Evangelist Rachel Olumoroti Mr. Israel Obembe Mr. Adefolarin Olumoroti Deaconess Dupe Ogundiran Mr Adebola Olatunde Adeyemi Mr Alan Olatunbosun
Registered office: Unit 2 Dominion Works Freshwater Road Dagenham Essex RM8 IRX
Charity Number: 1080654
Accountant: Gabriel & Associates 293a High Road Leytonstone London E11 4HH
Minister in Charge: Rev. Ezekiel Omotunde Olumoroti
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AMAZING GRACE CHRISTIAN SANCTUARY (A not-for-profit charity organisation)
Report of the Management Committee
For the year ended 31 December 2020
The Management Committee of the Amazing Grace Christian Sanctuary present their report together with the financial statement for the year ended 31 December 2020.
Objectives of the organisation
1.To advance the Christian religion by propagating the gospel of Jesus Christ and proclaiming the kingdom of God through the preaching of the word of God, through Jesus Christ our Lord.
2.To relieve poverty by providing care for the needy and by cooperating with other charitable and Christians organisations to offer help, both financially and otherwise, to victims of war, disaster and other misfortune locally, nationally and internationally.
Executive Committee Members
The Executive Committee who held office for the period of this report were as follows:
Pastor Ezekiel Olumoroti Evangelist Rachel Olumoroti Mr Israel Obembe Mr Adefolarin Olumoroti Deaconess Dupe Ogundiran Mr. Adebola Olatunde Adeyemi Mr. Alan Olatunbosun
The year ended 31 December 2020 began with our usual week long prayer and fasting period to thank God for seeing everybody through the previous year, 2019. As in previous year, members from other churches in and around the local community participated in the week long programme.
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Achievements during the year
The year under review was particularly tough going for the Church due to the unprecedented Covid 19 pandemic that took the whole World unaware with no certainty of when the pandemic will come to an end.
With the help of volunteers and little financial grant received from the London Borough of Barking and Dagenham, the Church was able to operate online services via zoom.
Within the limits of Covid 19 protocols, the Church was able to perform the yearly health check and wellbeing awareness service in November 2020. Although, participants were limited nonetheless the turnout was significant.
In furtherance of its charitable activities, members of the Church visited many local residents during the pick of the covid 19 lockdown to offer help to the needy in the community through donation of gift items and offering free shopping trips to local stores.
The expansion of the Church’s work overseas continued and management are happy to place on record that another branch was launched in Nigeria during year 2020.
Future Developments
As stated in the previous year, management will intensify efforts to continue to grow the Church in the UK and expand on its charitable work.
Efforts will be intensified to grow membership of the church through door to door evangelism and also harness the benefits of technology particularly social media, TV and radio broadcast.
Management will continue to reach out to other Christian faith organisations across the UK and the world through networking and invitation to seminars and conferences organised by the church. Also, the food bank will be expanded by seeking donated food items from retailers and other food vendors in the community.
On behalf of the Board of Trustees
Rev. Ezekiel Olumoroti Minister-in-Charge
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Amazing Grace Christian Sanctuary
Statement of Financial Activities For the year ended 31 Dec 2020
| Restricted Unrestricted Fund Fund Designated General Notes £ £ Incoming Resources 2 Collection/Donation 63,188 Resources expended Direct charitable expenditure 33,285 Support costs 2,976 Management & Admin cost 18,073 Total resources expended Surplus/(deficit) on ordinary Activities before funds transfers Balance brought forward Previous year adjustment Funds balance at 31 Dec 2019 |
31 Dec 2020 31 Dec 2019 Total Fund Total Fund £ £ 63,188 58,675 63,188 58,675 33,285 33,353 2,976 4,804 18,073 18,178 54,334 56,335 8,854 2,340 12,442 10,102 21,29612,442 |
|---|---|
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Amazing Grace Christian Sanctuary
| Balance Sheet | |||
|---|---|---|---|
| As at 31 Dec 2020 | |||
| 31 Dec 2020 | 31 Dec 2019 | ||
| FIXED ASSETS |
Notes | £ | £ |
| Tangible assets | 4 | 2,392 | 3,188 |
| CURRENT ASSETS: | |||
| Bank | 21,896 | 9,854 | |
| CREDITORS: Amount falling | |||
| Due within one year |
5 | (600) | (600) |
| NET CURRENT ASSETS: | 21,296 |
12,442 | |
| TOTAL ASSETS LESS | |||
| CURRENT LIABILITIES | 21,296 | 12,442 | |
| REPRESENTED BY: | |||
| Accumulated fund | 21,296 | 12,442 | |
| ON BEHALF OF THE BOARD | |||
| …………………………….Signature ….………………/Trustee | |||
| …………………………….Signature …….………………..Secretary |
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Amazing Grace Christian Sanctuary
ACCOUNTING POLICIES
Accounting convention
The financial statements have been prepared:
Under the historical cost convention
In accordance with the Financial Reporting Standard for Smaller Entities
Income/Receipts
Incoming resources represents net fees, donations, grants and investment income receivable.
Tangible Fixed Assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Van 20 % straight line Equipments 20% straight line
1 RECEIPTS/INCOMING RESOURCES
The incoming resources and deficits are attributable to the one principal activity of the Church.
During the year, a total of £8,993.00 was refunded to the Church by the Inland Revenue, being Gift Aid Claims for the year. The Church also received £10,000.00 as Covid 19 grant.
2 OPERATING SURPLUS/(DEFICIT)
The operating surplus is stated after charging:
£ Depreciation – owned assets 796
- 3 TAXATION
No liability to UK Corporation tax arose on ordinary activities for the year ended 31 December 2020.
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Amazing Grace Christian Sanctuary
4 TANGIBLE FIXED ASSETS
| Vehicle £ COST: As at 01 Jan 2020 20,500 Disposal Addition 20,500 DEPRECIATION: Brought fwd 20,500 Disposal Charged for the year - 20,500 NET BOOK VALUE At 31 December 2020 Nil 5 CREDITORS: AMOUNT FALLING DUE WITHIN ONE YEAR Accrued expenses – Accountancy fees |
Equipments 12,702 0 12,702 9,514 796 10,310 2,392 600 |
Total £ 33,202 0 33,202 30,014 796 30,810 2,392 |
|---|---|---|
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Amazing Grace Christian Sanctuary
Independent Examiner’s Report to The Trustees of Amazing Grace Christian Sanctuary on the accounts for the year ended 31 December 2020.
I report on the financial statements of the Church for the year ended 31 December 2020, which are set out on pages 6 to 9.
Respective responsibilities of trustees and examiner
As the Church’s trustees you are responsible for the General Directions given by the Charity Commissioners. An independent examination includes a review of the accounting records kept by the Church and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, 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 I do not express an audit opinion on the view given by the financial statements.
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 41 of the Act, and to prepare financial statements which accord with the accounting records and to comply with the accounting requirements of the Act, have not been met, or
to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached.
Gabriel Akintunde Gabriel & Associates 293a High Road Leytonstone London E11 4HH
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Financial Statements For the Year Ended 31 December 2020
For
Amazing Grace Christian Sanctuary
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Amazing Grace Christian Sanctuary
| Detail Financial Statements | |||
|---|---|---|---|
| For the Year Ended 31 December 2020 | |||
| £ | £ | ||
| Income/Receipts | |||
| Collections/donation – | Church |
44,195 | |
| - | Gift Aid Claim |
8,993 | |
| - | Government grant |
10,000 | 63,188 |
Expenditure
| Charitable Activities Publicity Holy Communion materials Telephone Insurance Conference Postage Donation Depreciation Sundry Small equipments Rent & Rates Mission to Nigeria Light and Heath Travelling and subsistence Support Cost Info and publication Website/software Stationery Repairs and maintenance Cleaning Management & Administration Accountancy Minister’s stipend-Minister in charge Pension Bank Charges -Visiting ministers Surplus/(Deficit) |
680 435 358 433 235 275 6,251 796 375 1,146 10,987 4,400 960 5,954 33,285 535 310 1,031 1,000 100 2,976 1,200 15,000 485 388 1,000 18,073 54,334 8,854 |
|
|---|---|---|
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