## **TRIUMPHANT CHURCH INTERNATIONAL** **(DESTINY MINISTRIES)** ## **ANNUAL REPORT** ## **AND** ## **FINANCIAL STATEMENTS** ## **FOR THE YEAR** **ENDED** **31ST MARCH 2023** **CHARITY REGISTRATION No: 1083660** ## **CONTENTS** |Page 3|Legal and Administrative Information| |---|---| |Page 4|Independent Examiners Report to the Trustees| |Pages 5 to 9|Trustees Report| |Page 10|Statement of Financial Activities| |Page 11|Financial Statements| |Pages 12 to 18|Notes to the Financial Statements| 2 ## **CHARITY NUMBER** 1083660 (Registered at the Charity Commission for England and Wales) **START OF FINANCIAL YEAR** 1 April 2022 **END OF FINANCIAL YEAR** 31st March 2023 **TRUSTEES AT 31 MARCH 2023** Pastor Clement Esomowei Pastor Marjorie Esomowei Mr Samson Ogunjimi Ms Margaret O T Olojo The existing trustees appoint any new trustees following the provisions laid out in the organisation's governing instrument. ## **GOVERNING INSTRUMENT** Constitution and Trust Deed ## **OBJECTS** To advance the Christian faith in accordance with the Statement of Faith to pursue such other charitable activities as the Trustee shall from time to time see fit. ## **CORRESPONDENCE ADDRESS** 36 Chislehurst Road Orpington BR6 0DG **PRIMARY BANKERS** Barclays Bank Plc 5 The North Colonnade Canary Wharf London E14 4BB **INDEPENDENT EXAMINER** Eazitax Limited Unit 6, Buckingham Court Rectory Lane Loughton Essex IG10 2QZ 3 ## **INDEPENDENT EXAMINER'S REPORT ON THE ACCOUNTS** Report to the Trustees of Triumphant Church International on the accounts for the year ended 31st March 2023 set out on pages 8 to 15. ## **Respective responsibilities of trustees and examiner** The Trustees are responsible for the preparation of the accounts. The Trustees consider that an audit is not required for this year (under section 144 of the Charities Act 2011) and that an independent examination is needed. It is my responsibility to: - examine the accounts (under section 145 of the Act); - follow the procedures laid down in the General Directions given by the Charity Commissioners (under section 145(5)(b) of the Act); and - state whether particular matters have come to my attention. ## **Basis of independent examiner's statement** My examination was carried out in accordance with General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the organisation 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 explanations from the 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 statement below. Independent examiner's qualified statement: In connection with my examination, no material matters have come to my attention which gives me cause to believe that in, any material respect: - the accounting records were not kept in accordance with section 130 of the Charities Act; or - the accounts did not accord with the accounting records; or - the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Eazitax Limited Unit 6, Buckingham Court Rectory Lane Loughton, Essex Signed by: IG10 2QZ Dated: 12[th] July 2024 4 ## **TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2023** ## **1. INTRODUCTION** This report by the Trustees to the members of Triumphant Church International (Destiny Ministries) and the attached accounts cover the year ended 31st March 2023. The accounts have been prepared by Eazitax Limited ## **2. REFERENCE AND ADMINISTRATIVE INFORMATION** Triumphant Church International (the Church or TCI) is a registered Charity under the terms of the Charities Act 1983 Charity Number 1083660. ## **THE CHURCH PRINCIPAL OFFICE AND WORSHIP PLACE IS:** ## **36 Chislehurst Road Orpington BR6 0DG** ## **TRUSTEES WHO SERVED DURING THE YEAR ARE:** Reverend Clement Esomowei Reverend Marjorie Esomowei Mr Samson Ogunjimi Ms Margaret O T Olojo ## **3. STRUCTURE, GOVERNANCE AND MANAGEMENT** The activities of the Trustees are governed by the trust deed which was approved in 1999 and updated in 2004 and updated in 2017. The principal objects of the church remain as described in the Trust Deed: To advance the Christian faith and to pursue such other charitable activities, as the Trustees shall from time to time deem fit. ## OBJECTIVES AND ACTIVITIES In order to achieve the objects of the Church, the Trustees have continued to carry on the objects of the church as stated above: These objects are embodied in our **six (6)** main areas of operation - **Spiritual and Vibrant weekly services:** These services characterized by prayers, praise, worship and bible teaching sessions. They are open to all gender, race and belief. We continued with our goal of building strong and happy families paying special attention to our youth. We continue to have global impact due to our online services 5 ## **TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023** - **Outreach Programmes:** Triumphant Church International is an integral part of the communities where we have our worship services and beyond eg Essex, London, Birmingham. **We** continued through the Year with the Christmas Angels project which is a project to help the underprivileged at Christmas time with whole Turkey and other groceries and activities. It continues to be a welcome project in these communities. All community programmes are open to all gender, race and beliefs. - **Missionary/ Missions work:** Our Missionary work entails the propagation of the gospel according to the Holy Bible and outreach projects in England and other countries. Missions work entails support we provide to other charities to enable them help the disadvantaged plus Our outreach programmes stretched to Nigeria, Ghana, South Africa and Europe. Our outreaches to less privileged children and widows in Africa continued in the year - **Media Ministry:** A strong feature in our operation as a church is our Media Ministry which delivers spiritual, topical and developmental preaching through the social media platforms and other media to publicise the work of the Church and to reach a wider community. - **Annual Programme and Conferences:** These themed programmes conferences aimed at developing and educating members of the church and the general public on various issues which are practical and relevant to their lives and will benefit the society at large. Major conferences were planned for children, youth, women, men and families all addressing issues that are relevant to these specific groups of people. - **Training:** This entails the local and international training of members to be effective in their ministry, life skills, citizenship skills and family enhancement training. This extends also to training conducted for members of the community who are not necessarily members of Triumphant Church International. ## **5. ACHIEVEMENT AND PERFORMANCE** ## **REVIEW OF ACTIVITIES FOR THE YEAR** Our focus for some years running has been the health and well being of families within the Church and our communities plus our missionary fields outside the country, seeing that we have many young and thriving families within the Church. And so most activities have been targeted around empowering families, children, single parents, etc and empowering them spiritually, physically, materially, psychologically etc. 6 ## **TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023** Below is a summary of the main activities undertaken in relation to the objects listed above. ## `o` **ANNUAL PROGRAMME AND CONFERENCES:** ## **We are doing everything to ensure that we thrive as a Church in the New Normal** - Dominion 2022 held in August 2022. It was a hybrid conference - Mother’s day service held in March 2022 being targeted at Women in the community. It was hybrid to ensure we reach our global audience. - There was a Men’s conference held @ father’s day with the intention to raise honourable men in the community who can be role models in the community and also to their families. It was online - The hybrid Women’s retreat held in January 2023 - Family seminars to mark the valentine week were held. - Youth and children activities were moved online on zoom and activities were structured to enable the young people understand the situation of the world as a result of the covid. `o` The UK branches held the outreaches to families and young people also ## `o` **TRAINING:** - Our monthly leadership seminars continued through the year ## **6. FINANCIAL REVIEW** - **Income** - During the year to March 31[st] 2023 the income of the church was £2,851,157 compared to 286,769 as at March 31[st] 2022 ## `o` **Expenditure** - Total Expenditure was £360,805 Total expenditure consists of Direct Charitable expenditure £310,596 and Governance cost of £5,205 Substantial part of the expenditure in the year is related to Mortgage payment, evangelism, missions and refurbishment of the new building acquired. ## _**Excess of Income over expenditure**_ - There was an excess income over Expenditure of £2,490,352 compared to an excess of Income over Expenditure of £23,947 the year 31[st] March 2022. This was due to disposal of 136 West Green Road, Tottenham, London, N15 5AD with a profit. - Please refer to the accounts for the full details of the financial statements for the year ended 31st March 2023. 7 ## **TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023** ## `o` **INVESTMENT POLICY** There are no restrictions on the church’s power to invest hence any unrestricted and restricted funds may be invested in any type of investment. The Trustees have the power to invest in such investments as they see fit. They will however endeavour to invest in low and medium risk investment with a view to ensuring the return on investment is above inflation rate averaged over a five- year period. ## • **FULL PAYMENT OF MORTGAGE AND NEW PROPERTY** We are glad to announce that on 8[th] December 2022, Triumphant Church International paid off the mortgage on our property at 136 West Green Road, N15 5AD. On same day the Church made full payment for our new property at 36 Chislehurst Road, Orpington Kent BR6 3DG. We give all Glory to God. ## **RESERVES POLICY** - We are starting to look at keeping reserves to enable us look at purchasing properties for one more of our branches that use rented property. ## **RISK MANAGEMENT** - The trustees actively review the risks, including financial risk, which the church faces on a regular basis. They have assessed the major financial risks which the church is exposed to as those related to downward turn in income of the church. The Trustees are satisfied that monitoring attendance, the health of the church and the expenditure and accounts and the regular review of the controls over key financial systems will ensure this significant risk is mitigated. - The Trustees maintain and review a “Risk Register” of the financial, operational and business risks. ## **STATEMENT OF TRUSTEES RESPONSIBILITY** Charity Law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity at the year end and of its incoming resources and resources expended for that year. In preparing those financial statements the trustees are required to: - select suitable accounting policies and apply them consistently: - make judgements and estimates that are reasonable and prudent 8 ## **TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023** - Prepare the financial statements on the ongoing concern basis unless it is inappropriate to presume that the charity will continue in operation. The trustees are responsible for: keeping proper accounting records, disclosing the financial position of the charity with reasonable accuracy and ensuring that the financial statement comply with the Charities Act 1993. They are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities. ## **COVID 19** We thought to mention this to the annual report for the 2022 account. Covid19 affected the Church in numerous ways, key amongst all was the fact that due to lockdown and Government Stay Home instructions, church members have not had the total freedom of worshipping together physically, praying together physically and receiving the face to face support that many have enjoyed for years. As Pastors of the Church, counselling, prayers, of members was always paramount and not being able to do that face to face, for these number of months has been a major issue. However despite the regulations, we managed under strict compliance to policies of masking, social distancing and sanitizing etc to do the following community and member programmes 1. We set up Welfare Funds where members, their families and members of the community could access without too much probing for their basic needs of feeding, electricity and gas bills. 2. We continued to run our Five Loaves Food bank and served our community all through the pandemic and lockdown 3. We supported the elderly and sick within our community with shopping 4. We continued our Christmas Angels serving over 270 families in London and Basildon Essex with Whole Turkeys, Christmas groceries and gifts. 5. Members of our community mentioned Triumphant Church International to the BBC Songs of Praise team who came to film our Christmas outreach to our community. Signed on behalf of the Board of Trustees by le ~~m~~ om , + ## PRINT NAME: Pastor Clement Esomowei ## DATE: Jul 12, 2024 ## **Appreciation** - The board of Trustees and Senior Pastors wish to express special thanks to all the pastors, ministers, leaders, church voluntary workers and members of Triumphant Church International for their unflinching support to the ministry. This has been a very challenging year for us all but the most victorious year as well because we can truly say “ Thus Far has the Lord brought us” Our labour of love will not be in vain IN Jesus mighty name. Amen. 9 ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023** |**Notes**
**INCOME AND ENDOWMENTS FROM:**
Donations and Legacies
**3a**
Raising Funds
**3b**
Investments
**3c**
Charitable Activities
Profit on sale of building
**2**
Other
**TOTAL INCOME**
**EXPENDITURE ON:**
Charitable Activities
**4a**
Other
**4b**
**TOTAL EXPENDITURE**
**NET INCOME/EXPENDITURE**
Transfers between funds
**5**
**Other recognised gains and losses:**
Revaluation adjustments
**2**
**NET MOVEMENT IN FUNDS**
Reconciliation of funds:
Total Funds Brought Forward
**TOTAL FUNDS CARRIED FORWARD**|**Unrestriced**
**Restrcited**
**TOTAL**
**TOTAL**
**Funds**
**£**
**Funds**
**£**
**2022/23**
**£**
**2021/22**
**£**
263,951
0
263,951
272,272
5,141
0
5,141
14,490
192
0
192
6
0
0
0
2,581,874
2,581,874
0
0
0
0| |---|---| ||**2,851,157**
**0**
**2,851,157**
**286,769**| ||360,805
360,805
262,822
0
0
0| ||**360,805**
**0**
**360,805**
**262,822**| ||**2,490,352**
**0**
**2,490,352**
**23,947**
0
0
0
0
(1,970,000)
0
(1,970,000)
0
520,352
2,380,724
0
1,595
520,352
2,382,319
23,947
2,358,372
**2,901,076**
**1,595**
**2,902,671**
**2,382,319**| Movements on all reserves and all recognised gains and losses are shown above. All of the organisation's operations are classed as continuing. The notes on pages 9 to 15 form part of these financial statements. 10 ## **FINANCIAL STATEMETS AS AT 31 MARCH 2023** |**Notes**
**Fixed Assets**
Tangible assets
**2**
**Current Assets**
Debtors
**8**
Cash at bank and in hand
**7**
**Total Current Assets**
Creditors amount falling
due within one year
**9**
**TOTAL ASSETS**less current liabilities
**Creditors:**amounts falling
due more than one year
**10**
**NET ASSETS**
**Funds of the Charity**
General Funds
Designated Funds
**6**
Restricted Funds
**5**
**Total Funds**|**Unrestriced**
**Funds**
**Restrcited**
**Funds**
**31 Mar 2023**
**TOTAL**
**31 Mar 2022**
**TOTAL**
**£**
**£**
**£**
**£**
2,315,113
0
2,315,113
2,870,000
48,232
48,232
30,166
612,732
1,595
614,327
88,123| |---|---| ||660,965
1,595
662,560
118,289| ||75,002
0
75,002
81,012
585,963
1,595
587,558
37,277
0
0
0
524,958| ||**2,901,076**
**1,595**
**2,902,671**
**2,382,319**| ||2,901,076
0
2,901,076
2,380,724
0
0
0
0
0
1,595
1,595
1,595| ||**2,901,076**
**1,595**
**2,902,671**
**2,382,319**| Approved by the Trustees on .[J] ..[u] ..[l] ..[1] ..[2] ..[,] .[2] ..[0] ..[2] ..[4][ .] and Signed by .[P] ..[a] ~~.~~[s] ~~.~~[to] ~~..~~[r ] ~~.~~[C] ~~.~~[l] ~~.~~[e] ~~.~~[m] ~~.~~[e] ~~..~~[n] ~~.~~[t] ~~.~~[E] ~~.~~[s] ~~.~~[o] ~~.~~[m] ~~..~~[o] ~~.~~[w] ~~..~~[e] ~~.~~[i ] ~~.~~[(J] ~~.~~[u] ~~..~~[l ] ~~.~~[1] ~~.~~[2] ~~.~~[, ] ~~.~~[2] ~~.~~[0] ~~.~~[2] ~~.~~[4] ~~.~~[1] ~~..~~[8] ~~.~~[:4] ~~.~~[6] ~~..~~[G] ~~.~~[M] ~~..~~[T] ~~.~~[+] ~~.~~[1] ~~.~~[)] ~~.,~~ Trustee PRINT NAME: Pastor Clement Esomowei 11 ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023** ## **Basis of preparation:** The financial statements of the charity have been prepared in accordance with the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard for Smaller Entities (Charities SORP FRSSE) (effective 1 January 2015) and applicable accounting standards. ## **1. ACCOUNTING POLICIES** ## **Income** Recognition of Income These are included in the Statement of Financial Activities (SOFA) when: ▪ the charity becomes entitled to the resources; ▪ the trustees believe it is probable they will receive the resources; and ▪ the monetary value can be measured with sufficient reliability ## **Income with related expenditure** Where income has related expenditure (as with fundraising or contract income) the income and related expenditure are reported gross in the SOFA. ## **Grants and Donations** Grants and Donations are only included in the SOFA when the charity has unconditional entitlement to the resources. ## **Tax reclaims on Donations and Gifts** Income from tax reclaims are included in the SOFA during the same period as the gift to which they relate. ## **Gifts in Kind** Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount realised. Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or distributed by the charity. Gifts in kind for use by the charity are included in the SOFA as income when receivable. ## **Donated Services and Facilities** These are only included in income (with an equivalent amount in expenditure) where the benefit to the charity is reasonably quantifiable, measurable and material. The value placed on these resources is the estimated value to the charity of the service or facility received. ## **Volunteer Help** The value of any voluntary help received is not included in the accounts but is described in the trustees' annual report. 12 ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023** ## **Investment Income** This is included in the accounts when receivable. ## **Investment gains and losses** This includes any gain or loss on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year. ## **Expenditure and liabilities** ## **Liability recognition** Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources. ## **Governance Costs** Include costs of the preparation and examination of statutory accounts, the costs of the trustees meetings and cost of any legal advice to trustees on governance or constitutional matters. ## **Changes in Accounting policies and previous accounts** The charity has opted to follow the SORP (FRSSE) for the financial year ending 31 March 2016. The comparative figures have been restated to reflect the requirements of Charity reporting. There is no effect on the results for the year ended 31 March 2016 or the net assets at 31 March 2016. ## **Assets** Tangible fixed assets for use by the charity These are capitalised if they can be used for more than one year, and cost at least £500. They are valued at cost or, if gifted, at the value to the charity on receipt. Depreciation is calculated at a rate to write off the cost of tangible fixed assets on a straight line basis over their estimated useful lives. The rates applied per annum are as follows: |Fixtures, Fittings and Equipment|20%| |---|---| |Plant and equipment|20%| |Motor vehicles|20%| No depreciation is charged to freehold property as the property is maintained to such a standard that the estimated residual value is not less than cost. 13 ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023** ## **2. TANGIBLE FIXED ASSETS** |Cost
01-Apr-22
Revaluation
Additions
Disposal
Cost at
31-Mar-23
Depreciation
01-Apr-22
Disposal
Charge
Depreciation
31-Mar-23
Net book Value
31-Mar-23
Net book Value
31-Mar-22|**Unrestricted**
**Unrestricted**
**Unrestricted**
**Unrestricted**
**Land and**
**Plant &**
**Fixtures &**
**Motor**
**TOTAL**
**Building**
**Machinery**
**Fittings**
**Vehicles**
**£**
**£**
**£**
**£**
**£**
2,870,000
3,951
1,701
7,840
2,883,492
0
47,477
47,477
2,219,788
50,366
2,270,154
-2,870,000
(7,840)
-2,877,840| |---|---| ||**2,219,788**
**51,428**
**1,701**
**50,366**
**2,323,283**| ||0
3,951
1,701
7,840
13,492
(7,840)
-7,840
2,518
2,518| ||**0**
**3,951**
**1,701**
**2,518**
**8,170**| ||2,219,788
47,477
0
47,848
2,315,113
2,219,788
0
0
0
2,219,788| Fixed assets are used for charitable purposes. 136 West Green Road, London N15 5AD was sold on 7 December 2022. At 10[th] August 2020 the property had a market value of £2.870 million and was reflected in 2021 financial statements with revaluation reserve of £1.87m. The profit on the sale of 136 West Green Road was £2,581,874. From the proceed of the sale, 36 Chislehurst Road was acquired at a cost of £2,150,650 and the building was undergoing refurbishment, as at 31 March 2023 £69,140 was expended. ## **3. Income** |**a) Donation and Legacies**
Bursary
Gift aid tax recoverable
Offerings and donations
**b) Raising Funds**
Rent Received
**b) Investments**
Profit on sale of building
Bank Interest|**Unrestriced**
**Restrcited**
**31 Mar 2023 31 Mar 2022**
**Funds**
**Funds**
**TOTAL**
**TOTAL**
**£**
**£**
**£**
**£**
0
0
47,119
47,119
30,764
216,831
216,831
241,508| |---|---| ||**263,951**
**0**
**263,951**
**272,272**| ||5,141
0
5,141
14,490| ||**5,141**
**0**
**5,141**
**14,490**| ||2,581,874
2,581,874
0
192
0
192
31| ||**2,582,065**
**0**
**2,582,065**
**31**| 14 ## **4. EXPENDITURE** |**a) Charitable Activities Management:**
**Management**
Gross salary and employers NI
**Church activities:**
Church services, outreach & honoraria
Community projects
Conferences and events
Gifts and donations
Media Ministry
Ministerial Welfare
Missions
Musicians and music licences
Prayer Retreat Mens Camp
Trading and Christian Resources
Volunteers expenses
**Office and support costs:**
Administration and office expenses
Bank and Finance charges
IT Support and Website Management
Mortgage Interest
Printing, postage and stationery
Professional subscriptions and training
Telephone and Internet
Transport and motor
**Premises costs:**
Depreciation
Professional Fees
Insurance
Light & Heat, Rent and Rates
Repairs and maintenance
**Governance costs:**
Independent examination fees
Accountancy and Bookkeeping Fees
**b) Other**
Sundry expenses|**Unrestriced**
**Funds**
**Restrcited**
**Funds**
**31 Mar 2023**
**TOTAL**
**31 Mar 2022**
**TOTAL**
**£**
**£**
**£**
**£**
87,672
0
87,672
35,502
54,970
0
54,970
52,218
10,456
0
10,456
10,984
25,944
0
25,944
22,370
11,493
0
11,493
11,304
12,876
0
12,876
12,291
0
0
0
0
20,898
0
20,898
20,240
14,350
0
14,350
14,844
0
0
0
0
0
0
0
0
5,368
0
5,368
0
5,784
0
5,784
3,662
3,656
0
3,656
3,742
4,186
0
4,186
3,859
18,662
0
18,662
18,054
12,082
0
12,082
4,318
0
0
0
0
9,032
0
9,032
9,414
13,169
0
13,169
13,926
2,518
0
2,518
0
4,823
0
4,823
0
3,670
0
3,670
3,814
10,713
0
10,713
10,995
23,279
0
23,279
7,204
2,400
0
2,400
2,160
2,805
0
2,805
1,920|**Unrestriced**
**Funds**
**Restrcited**
**Funds**
**31 Mar 2023**
**TOTAL**
**31 Mar 2022**
**TOTAL**
**£**
**£**
**£**
**£**
87,672
0
87,672
35,502
54,970
0
54,970
52,218
10,456
0
10,456
10,984
25,944
0
25,944
22,370
11,493
0
11,493
11,304
12,876
0
12,876
12,291
0
0
0
0
20,898
0
20,898
20,240
14,350
0
14,350
14,844
0
0
0
0
0
0
0
0
5,368
0
5,368
0
5,784
0
5,784
3,662
3,656
0
3,656
3,742
4,186
0
4,186
3,859
18,662
0
18,662
18,054
12,082
0
12,082
4,318
0
0
0
0
9,032
0
9,032
9,414
13,169
0
13,169
13,926
2,518
0
2,518
0
4,823
0
4,823
0
3,670
0
3,670
3,814
10,713
0
10,713
10,995
23,279
0
23,279
7,204
2,400
0
2,400
2,160
2,805
0
2,805
1,920| |---|---|---| ||**360,805**|**0**
**360,805**
**262,822**| ||0
**0**|0
0
0| |||**0**
**0**
**0**| 15 ## **5. RESTRICTED FUNDS** |**5. RESTRICTED FUNDS**|| |---|---| |Wisdom for Women Internatinal|**Balance**
**01-Apr-22**
**Income**
**Expediture**
**Balance**
**31-Mar-23**
**£**
**£**
**£**
**£**
1,595
0
0
1,595| ||**1,595**
**0**
**0**
**1,595**| ## **6. DESIGNATED FUNDS** They are no designated funds ## **7. CASH AT BANK AND IN HAND** |Current Accounts
Cash in Hand|**Unrestriced**
**Restrcited**
**31 Mar 2023 31 Mar 2022**
**Funds**
**£**
**Funds**
**£**
**TOTAL**
**£**
**TOTAL**
**£**
612,732
1,595
614,327
88,123
0
0
0| |---|---| ||612,732
1,595
614,327
88,123| ## **8. DEBTORS AND PREPAYMENTS** |Other Debtors
Trade Debtor|**Unrestriced**
**Restrcited**
**31 Mar 2023 31 Mar 2022**
**Funds**
**£**
**Funds**
**£**
**TOTAL**
**£**
**TOTAL**
**£**
1,113
0
1,113
0
47,119
0
47,119
30,166| |---|---| ||48,232
0
48,232
30,166| ## **9. CREDITORS ACCRUALS AND DEFFERED INCOME: AMOUNT FALLING DUE WITHIN ONE YEAR** |Bank loans and overdrafts
Other Creditors
Trade Creditors
Taxation and Social Security
Accruals|**Unrestriced**
**Funds**
**£**
**Restrcited**
**Funds**
**£**
**31 Mar 2023**
**TOTAL**
**£**
**31 Mar 2022**
**TOTAL**
**£**
0
0
0
56,016
1,383
1,383
1,174
37,634
37,634
0
26,206
0
26,206
16,143
9,780
9,780
7,680| |---|---| ||75,002
0
75,002
81,012| 16 ## **10. CREDITORS ACCRUALS AND DEFFERED INCOME: AMOUNT FALLING DUE AFTER MORE ONE YEAR** |**YEAR**|| |---|---| |Bank Loan|**Unrestriced**
**Funds**
**Restrcited**
**Funds**
**31 Mar 2023**
**TOTAL**
**31 Mar 2022**
**TOTAL**
**£**
**£**
**£**
**£**
0
0
0
524,958| ||0
0
0
524,958| ## **11. SECURED DEBTS** The following secured debts are included within creditors: |**11. SECURED DEBTS**
The following secured debts are included within creditors:|| |---|---| |Bank Loans|**31 Mar 2023 31 Mar 2022**
**TOTAL**
**£**
**TOTAL**
**£**
0
580,974| ||0
580,974| The mortgage was fully paid off from the proceed of the sale on 7[th] December 2022 ## **12. STAFF** Two employee served during the year and in the year 31 March 2023 one employee served. ## **13. TRUSTEES AND OTHER RELATED PARTIES** ## **Expenses:** Expenses paid to trustees related to reimbursement of purchases made on behalf of the church, routine church expenses, repairs, travel and motor expenses. ||2022/23|2021/22| |---|---|---| |Number of Trustees who were paid expenses|2|2| The Board of Trustees confirm that the Trustees received the following reimbursement expenses: ||**£**|| |---|---|---| |Travel and Transport|692|| |Motor Vehicle & fuel|1,554|| |Itunes|60|| |Subsistence|545|| |Reimburse office supplies|104|| ||2,955|| |Wages and Salaries:||| ||2022/23|2021/22| |Number of Trustees who were paid a salary|2|1| |Total amount paid|£81,717|£34,650| The Board of Trustees confirm that no other payments were made to trustees or any persons connected with them during this financial period. The Trustees also confirm that no material transaction took place between the organisation and a trustee or any person connected with them. 17 ## **14. PUBLIC INTEREST** The charity acknowledges its requirement to demonstrate clearly that it must have charitable purposes or ‘aims’ that are for the public benefit. Details of how the charity has achieved this are provided in the Trustees report. The Trustees confirm that they have paid due regard to the Charity Commission guidance on public benefit before deciding what activities the charity should undertake. ## **15. EXAMINER’S NOTE** This set of accounts has been prepared using records, invoices and payments provided by the trustee of the charity. The charity has engaged an inhouse accounts administrator and procedures has been implemented to produce accounts as per SORP requirements. The charity has started to implement proper financial controls and is continuing in implementing those controls including protocols for identifying all payments to Trustees to meet SORP disclosure requirements. The charity faced challenges from the Covid 19 pandemic and now cost of living crisis. As mentioned in Trustee report, the charity took all the necessary steps to cut cost. 18