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2020-12-31-accounts

Page
Reference and Administrative
Details
Report ofthe Trustees 2 to 5
Independent
Examiner's
Report
Statement ofFinancial Activities
Balance Sheet
Notes to the Financial Statements 9 to 14
Detailed Statement ofFinancial Activities 15 to 16

Pastor (Mrsl
Remi		 Balogun - Chair
Pastor Bamishaiye A Daniel -Secretary
Mr
Wale Ladapo		 - Member
Mrs Adebimpe
Adekunbi		 -Member

for the Ye ar Ended 31December 2020
31.12.20 31.12.19
Unrestricted Restricted Total Total
fund fund funds funds
Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies 232,883 232,883 280,467
EXPENDITURE ON
Charitable activities
Charitable 139,713 139,713 187,990
Other 46,450 46,450 30,394
Total 186,163 186,163 218,384
NET INCOME 46,720 46,720 62,083
RECONCILIATION OF FUNDS
Total funds brought forward 982,636 982,636 920,553
TOTAL FUNDS CARRIED FORWARD 1&029,356 1,029,356 982,636

Balance Sheet
31December 2020
31.12.20 31.12.19
Unrestricted Restricted Total Total
fund fund funds funds
Notes 8
FIXEDASSETS
Tangible assets 7 1,814,200 1&814,200 1,810,058
CURRENT ASSETS
Debtors 16,702 16,702 9,515
Cash at bank and in hand 10,459 10,459 5,480
27,161 27,161 14,995
CREDITORS
Amounts
falling due within		 one year 9 (69&983) (69,983) (84,304)
NET CURRENT ASSETS (42,822) (42,822) (69,309)
TOTAL ASSETSLESS CURRENT LIABILITIES 1,771,378 1,771,378 1,740,749
CREDITORS
Amounts
falling due aller more than one year		 10 (742,022) (742022) (758 113)
NET ASSETS 1,029,356 1,029,356 982,636
FUNDS
Unrestricted
funds		 13 1&029,356 982,636
TOTALFUNDS 1&029,356 982,636

DONATIONS
AND LEGACIES
31.12.20 31.12.19
Offerings
and donations
Tithes		 62,478
98,387		 68,470
84,965
Thanksgiving
Gift aid receipts
Other income		 13,786
41,794
4,508		 16,005
34,709
43,603
Hall hire 11,930 32,715
232,883 280,467

CHARITABLE ACTIVITIES COSTS
Direct Support
Costs costs Totals
6
Charitable 38,080 101,633 139,713

STAFFCOSTS
The average monthly number ofemployees during the year was as follows:
31.12.20 31.12.19
Administrative
staff		 2 2
No employees
received		 emoluments in excess off60,000.
COMPARATIVES FOR THE STATEMENT OFFINANCIAL ACTIVITIES
Unrestricted Restricted Total
fund fund funds
E f
INCOME AND ENDOWMENTS FROM
Donations
and legacies		 280,467 280,467
EXPENDITURE ON
Charitable
activities
Charitable 187,990 187,990
Other 30,394 30,394
Total 218,384 218,384
NET INCOME 62,083 62,083
RECONCILIATION OF FUNDS
Total funds brought forward 920,553 920,553
TOTAL FUNDS CARRIED FORWARD 982,636 982,636

TANGIBLE FIXEDASSETS
Fixtures
Freehold Plant and and
property machinery fittings
COST
At
1 January 2020		 1,767,614 132,756 14,445
Additions 27,084
At 31December 2020 1,767,614 159,840 14,445
DEPRECIATION
At I January 2020 92,755 12,789
Charge for year 22&181 499
At 31 December 2020 114,936 13,288
NET BOOK VALUE
At 31December 2020 1,767,614 44,904 1,157
At 31 December 2019 1,767,614 40,001 1,656
Motor Computer
vehicles equipment
f		 TotalsI
COST
At
1 January 2020		 79,085 10,297 2,004,197
Additions 27,084
At 31 December 2020 79,085 10,297 2,031r281
DEPRECIATION
At I January 2020 79,075 9,520 194,139
Charge for year 262 22,942
At 31 December 2020 79,075 9,782 217,081
NET BOOK VALUE
At 31 December 2020 10 515 I,S14,200
At 31December 2019 10 777 1,810,058

DEBTORS:AMOUNTS FALLING DUK WITHIN ONK YEAR
31.12.20 31.12.19
f
Trade debtors 500
Other debtors 16,702 9,015
16&702 9,515
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.20 31.12.19
Bank loans and overdrafts
(see note 11)		 65&418 65,418
Trade creditors 187 187
Taxation and social security 445 249
Other creditors 3&933 18,450
69,983 84,304
CREDITORS: AMOUNTS FALLING DUK AFTER MORE THAN ONK YEAR
31.12.20 31.12.19
Bank loans (see note 11) 742,022 758,113
LOANS
An analysis ofthe maturity ofloans is given below:
31.12.20 31.12.19
8
Amounts
falling due within one year on demand:
Mortgage
loan within
1 year		 65,418 65,418
Other loans 8,000
65,418 73,418
Amounts
falling between one and two years.
Bank loans - 1-2 years 49,297 49,297
Mortgage
loan -I -2 years		 98,126 98,126
147,423 147,423
Amounts
falling due between two and five years:
Mortgage
loan- 2-5 years		 245,320 245,320
Amounts
falling due in more than five years:
Repayable
by instalments:
Mortgage
loan -over 5 years		 349,279 365,370

31.12,20 31.12,19
8
Bank loans 807,440 823,531
Barclays bank has first legal charge over the charity's land and buildings.
MOVEMENT IN FUNDS
Net
movement At
At 1.1.20 in funds 31.12.20
Unrestricted funds
General fund 982&636 46,720 1,029&356
TOTAL FUNDS 982,636 46,720 1,029,356
Net movement in funds, included in the above are as follows:
Incoming Resources Movement
resources expended in funds
Unrestricted funds
General fund 232,883 (186,163) 46&720
TOTAL FUNDS 232,883 (186&163) 46,720
Comparatives for movement in funds
Net
movement At
At 1.1.19 in funds 31.12.19
Unrestricted funds
General fund 920,553 62,083 982,636
TOTAL FUNDS 920,553 62,083 982,636

Incoming Resources Movement
resources expended in funds
Unrestricted funds
General fund 280,467 (218,384) 62,083
TOTAL FUNDS 280,467 (218,384) 62,083
Net
movement At
At l.1.19 in funds 31.12.20
f 8 f
Unrestricted funds
General fund 920,553 108,803 1,029,356
TOTAL FUNDS 920,553 108,803 1,029,356
Incoming Resources Movement
resources expended in funds
Unrestricted funds
General fund 513,350 (404,547) 108,803
TOTAL FUNDS 513,350 (404,547) 108,803

for the Year Ended 31D ecember 2020
31.12.20 31.12.19
INCOME AND ENDOWMENTS
Donations
and legacies
Offerings
and donations		 62,478 68,470
Tithes 981387 84,965
Thanksgiving 13,786 16,005
Gift aid receipts 41,794 34,709
Other income 4,508 43,603
Hall hire 11,930 32,715
232,883 280,467
Total incoming resources 232,S83 280,467
EXPENDITURE
Charitable
activities
World evangelical
mission		 11,537 20,474
Honorariums
-guest ministers		 2,473
Missions 1,250 500
Outreach
and evangelism		 cost 818
Pastoral care 1,200 1,100
Volunteers'
expenses		 4,582
Transport
and travelling		 616
Repairs and maintenance 10,419 8,474
Mortgage 13,674 28,386
38,080 67,423
Other
Children
ministry		 1,686 1,100
Donation 8,970 6,223
Church office expenses 9,768 3,869
Retreats and training 2,265 5,455
Technical and multimedia 820 80
Events 1,994
Plant and machinery 22)181 9,993
Fixtures and fittings 499 499
Computer
equipment		 261 261
46,450 29,474
Support costs
Management
Insurance 7,532 7,271
Carried forward 7)532 7,271

for the Year E nded 31 December 2020
31.12.20 31.12.19
Management
Brought forward 7&532 7,271
Telephone 1,730 2,812
Postage and stationery 547 1,956
Motor expenses 2&536 3,024
Pastor's Stipend and allowance 24)000 24,000
Pastor's rent allowance 12,000 12,000
48&345 51,063
Finance
Bank charges 1,813 1,971
Other
Rates and water 566 754
Light and heat 4,934 8,648
Sundries 5,666
5,500 15,068
Other 2
Advertising 540 442
Consultancy fees 17,130 28,110
17,670 28,552
Other 3
Cleaning
expenses		 3,927 1,684
Governance costs
Wages 18&233 16,039
Social security 445
Book keeping
and payroll cost
Independent
examiner's
fees		 4,800
900		 5,290
900
Legal fees 920
24&378 23,149
Total resources expended 186,163 218,384
Net income 46,720 62,083