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 2021
Amazing Grace Christian Sanctuary
Index to the Financial Statements For the Year Ended 31 December 2021
| 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 2021
Trustees: ( Management Committee ) 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 2021
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:
Evangelist Rachel Olumoroti Mr Israel Obembe Mr Adefolarin Olumoroti Deaconess Dupe Ogundiran Mr. Adebola Olatunde Adeyemi Mr. Alan Olatunbosun
The year ended 31 December 2021 began with our usual week long prayer and fasting period to thank God for seeing everybody through the previous year, 2020. 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
Covid 19 significantly limit the work of the Church as a charity. Nonetheless, the church was able to setup food bank for relief of those in need within the local community.
Also, with the help of volunteers, advice and counselling services were provided to users on issues concerning finance, family, employment, health etc.
Within the limits of Covid 19 protocols, the Church was able to perform the yearly health check and wellbeing awareness service in November 2021. 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 peak 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.
Within the limited resources, the Church was able to carry out essential renovation to the premises and replaced old furniture and fittings. For the purpose of future building work, a bank account designated Building Reserve Account was setup and all funds set aside for building maintenance and renovation will be deposited into this account.
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.
The Church will continue to grow its membership through door to door evangelism and also harness the benefits of technology particularly social media, TV and radio broadcast.
Series of educational and career advisory workshops will be organised for youths to better prepare them for future developments and challenges in this dynamic world that we live in today.
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 2021
| Restricted Unrestricted Fund Fund Designated General Notes £ £ Incoming Resources 2 Collection/Donation 64,231 Resources expended Direct charitable expenditure 36,490 Support costs 5,985 Management & Admin cost 19,739 Total resources expended Surplus/(deficit) on ordinary Activities before funds transfers Balance brought forward Previous year adjustment Funds balance at 31 Dec 2021 |
31 Dec 2021 31 Dec 2020 Total Fund Total Fund £ £ 64,231 63,188 64,231 63,188 36,490 33,285 5,985 2,976 19,739 18,073 62,214 54,334 2,017 8,854 21,296 12,442 23,31321,296 |
|---|---|
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| Amazing Grace Christian Sanctuary | Amazing Grace Christian Sanctuary | Amazing Grace Christian Sanctuary | ||
|---|---|---|---|---|
| Balance Sheet | ||||
| As at 31 December 2021 | ||||
| 31 Dec 2021 | 31 Dec 2020 | |||
| FIXED ASSETS | Notes | £ | £ | |
| Tangible assets | 4 | 3,477 | 2,392 | |
| CURRENT ASSETS: | ||||
| Bank | 19,836 | 21,896 | ||
| CREDITORS:Amount falling | ||||
| Due within one year | 5 | - | (600) | |
| NET CURRENT ASSETS: | 19,836 |
21,296 | ||
| TOTAL ASSETS LESS | ||||
| CURRENT LIABILITIES | 23,313 | 23,688 | ||
| REPRESENTED BY: | ||||
| Accumulated fund | 23,313 | 23,688 | ||
| 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 £10,320.00 was refunded to the Church by the Inland Revenue, being Gift Aid Claims for the year.
- 2 OPERATING SURPLUS/(DEFICIT)
The operating surplus is stated after charging:
£ Depreciation – owned assets 1,423
- 3 TAXATION
No liability to UK Corporation tax arose on ordinary activities for the year ended 31 December 2021.
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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 2021 Nil 5 CREDITORS: AMOUNT FALLING DUE WITHIN ONE YEAR Accrued expenses – Accountancy fees |
Equipments 12,702 2,508 15,210 10,310 1,423 11,733 3,477 0 |
Total £ 33,202 2,508 35,710 30,810 1,423 32,233 3,477 |
|---|---|---|
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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 2021.
I report on the financial statements of the Church for the year ended 31 December 2021, 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 2021
For Amazing Grace Christian Sanctuary
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Amazing Grace Christian Sanctuary
| Detail Financial Statements | |||
|---|---|---|---|
| For the Year Ended 31 December 2021 | |||
| £ | £ | ||
| Income/Receipts | |||
| Collections/donation – | Church |
53,911 | |
| - | Gift Aid Claim |
10,320 | |
| - | Government grant | 64,231 |
Expenditure
| Charitable Activities Instumentalist 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 |
5,318 2,252 1,152 583 488 975 302 6,009 1,423 152 1,001 10,750 5,114 611 360 36,490 825 211 730 4,044 175 5,985 1,200 16,750 494 295 1,000 19,739 62,214 |
|
|---|---|---|
Surplus/(Deficit)
2,017
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