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|||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|
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|Pastor (Mrsl
Remi|Balogun|- Chair|
|---|---|---|
|Pastor Bamishaiye|A Daniel|-Secretary|
|Mr
Wale Ladapo||- Member|
|Mrs Adebimpe
Adekunbi||-Member|
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|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|
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|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|
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|CHARITABLE ACTIVITIES COSTS||||
|---|---|---|---|
||Direct|Support||
||Costs|costs|Totals|
||6|||
|Charitable|38,080|101,633|139,713|
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|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|
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|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|
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|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|
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||||||||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|
##
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|||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|
##
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|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|