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2020-12-31-accounts

Charity number: 1093287

NISSI LIFE CHURCH

UNAUDITED

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2020

NISSI LIFE CHURCH

CONTENTS
Page
Reference and administrative details of the charity, its trustees and advisers 1
Trustees' report 2 - 4
Independent examiner's report 5
Statement of financial activities 6
Balance sheet 7
Notes to the financial statements 8 - 16

NISSI LIFE CHURCH

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE PERIOD ENDED 31 DECEMBER 2020

Trustees

Rebecca McCarthy Rev Celia Apeagyei-Collins (resigned 15 June 2020) Tessa Oluwakemi Obeng (appointed 3 December 2019) Deniese Veronica Reid Christian levy (appointed 17 January 2020) Kelvin Nana Sarfo (resigned 1 September 2020) Diean Abankwa (appointed 15 June 2020, resigned 1 September 2020) Mawu- Elikplim Seth Kofi Seglah (appointed 9 March 2021)

Charity registered number 1093287

Registered office

27 Brampton Road, London, N15 3SX

Principal operating office

Unit 1, 2-8 Fountayne Rd, London, N15 4QL

Resident Pastor

Rev Godwin McCarthy

Accountants

GIL Accountancy Services, 177 Ballens Road, Chatham, Kent, ME5 8PG

Bankers

Lloyds TSB, 260 Seven Sisters Road, London, N4 2JA

Page 1

NISSI LIFE CHURCH

TRUSTEES' REPORT FOR THE PERIOD ENDED 31 DECEMBER 2020

The Trustees present their annual report together with the financial statements of the charity Nissi Life Church for the period 1 August 2019 to 31 December 2020.

POLICIES AND OBJECTIVES

We have considered the Commission's guidance on public benefit and in particular the specific guidance on charities for the advancement of religion. We believe that our objectives satisfy the public benefit criteria. There have been no changes in the objectives since the last annual report.

MAIN ACTIVITIES UNDERTAKEN TO FURTHER THE CHARITY'S PURPOSES FOR PUBLIC BENEFIT

The objectives of Nissi Life Church are as laid out in its constitution. Reverend Godwin McCarthy is the full time pastor who oversees the spiritual matters of the Charity. As a community based Church we aim not only to spread the good news of Christ in our community but also to be involved in other projects such as counselling for mental health issues, personal and family trauma, substance abuse. We also provide leadership training/workshops, computer training for the youth, finance support and training, also a mentoring programme for the youth in the community and taking care of the basic food requirements of the needy and elderly.

VOLUNTEERS

The charity is grateful for the unstinting efforts of its volunteers who are involved in service provision.

Financial and risk management review

GOING CONCERN

After making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.

PRINCIPAL RISKS AND UNCERTAINTIES

Appropriate Disclosure and Barring Services (DBS) checks are carried out regularly for those in frontline work who come in contact with vulnerable groups. The charity does not currently have an active reserves management policy.

FINANCIAL REVIEW

Tithes, donations and offerings continued to be the main sources of funds for the charity. Total tithes, donations and other income amounted to £287,311 (2019: £2534,035). Total resources expended amounted to £301,215 (2019: £279,677). Net incoming resources for the year was - £13,904 (2019: - £26,642).

Page 2

NISSI LIFE CHURCH

TRUSTEES' REPORT (continued) FOR THE PERIOD ENDED 31 DECEMBER 2020

Structure, governance and management

CONSTITUTION

The governing instrument of the Charity is its adopted Trust Deed dated 20 January 2002. The principal objectives of the Charity are: i) The advancement of the Christian Faith. ii) The relief of poverty, sickness and distress.

The objectives of Nissi Life Church are as laid out in its constitution. Reverend Godwin McCarthy is the full time pastor who oversees the spiritual matters of the Charity. As a community based Church we aim not only to spread the good news of Christ in our community but also to be involved in other projects counselling for mental health issues, personal and family trauma, substance abuse. We also provide leadership training/workshops, computer training for the youth, finance support and training, also a mentoring programme for the youth in the community and taking care of the basic food requirements of the needy and elderly.

METHOD OF APPOINTMENT OR ELECTION OF TRUSTEES

The management of the charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed assisted by the elders and management committee.

FUTURE DEVELOPMENTS

At the present time not all the objectives of the charity are being carried out due to resource constraints. The charity has plans to acquire and own a place of worship to further push its charitable objectives and expand accessibility to the general public.

TRUSTEES' RESPONSIBILITIES STATEMENT

The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in Select jurisdiction 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 and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping proper accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Page 3

NISSI LIFE CHURCH

TRUSTEES' REPORT (continued) FOR THE PERIOD ENDED 31 DECEMBER 2020

The Trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

This report was approved by the Trustees, on 28/10/2021 and signed on their behalf by:

................................................ Rebecca McCarthy Trustee

Page 4

NISSI LIFE CHURCH

INDEPENDENT EXAMINER'S REPORT FOR THE PERIOD ENDED 31 DECEMBER 2020

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF NISSI LIFE CHURCH (the 'charity')

I report to the charity Trustees on my examination of the accounts of the charity for the period ended 31 December 2020.

RESPONSIBILITIES AND BASIS OF REPORT

As the Trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').

I report in respect of my examination of the charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

INDEPENDENT EXAMINER'S STATEMENT

Your attention is drawn to the fact that the charity has prepared the accounts in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.

I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

I have completed my examination. I can confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do 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.

Signed: Dated: 30/10/2021 D Tabiri FCCA

177 Ballens Road, Chatham, Kent ME5 8PG

Page 5

NISSI LIFE CHURCH

STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD ENDED 31 DECEMBER 2020

Unrestricted
funds
Note
2020
£
INCOME FROM:
Donations and legacies
2
280,461
Investments
3
50
Other income - rents
6,800
TOTAL INCOME
287,311
EXPENDITURE ON:
Raising funds
4
163,555
Charitable activities
7,6,5
137,660
TOTAL EXPENDITURE
301,215
NET EXPENDITURE BEFORE OTHER RECOGNISED
GAINS AND LOSSES
(13,904)
NET MOVEMENT IN FUNDS
(13,904)
RECONCILIATION OF FUNDS:
Total funds brought forward
73,825
TOTAL FUNDS CARRIED FORWARD
59,921		 Total
funds
2020
£
280,461
50
6,800
287,311
163,555
137,660
301,215
(13,904)
(13,904)
73,825
59,921		 Total
funds
2019
£
248,718
17
4,300
253,035
157,979
121,698
279,677
(26,642)
(26,642)
100,467
73,825

The notes on pages 8 to 16 form part of these financial statements.

Page 6

NISSI LIFE CHURCH

BALANCE SHEET AS AT 31 DECEMBER 2020

Note
FIXED ASSETS
Tangible assets
11
Investments
12
CURRENT ASSETS
Debtors
13
Cash at bank and in hand
CREDITORS:amounts falling due within
one year
14
NET CURRENT ASSETS
NET ASSETS
CHARITY FUNDS
Unrestricted funds
TOTAL FUNDS		 31 December
2020
£
£
28,033
16,534
44,567
19,548
2,629
22,177
(6,823)
15,354
59,921
59,921
59,921		 £
18,703
9,224
27,927
(4,168)		 31 July
2019
£
33,532
16,534
50,066
23,759
73,825
73,825
73,825

The financial statements were approved by the Trustees on 28/10/2021 and signed on their behalf, by:

................................................ Rebecca McCarthy (Trustee)

The notes on pages 8 to 16 form part of these financial statements.

Page 7

NISSI LIFE CHURCH

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2020

1. ACCOUNTING POLICIES

1.1 Basis of preparation of financial statements

The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and Charities Act 2011.

NISSI LIFE CHURCH constitutes a public benefit entity as defined by FRS 102.

1.2 Going concern

After making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future.The charity has positive cash reserves and fund balances as at the year end date and the date of signing this report. For this reason they continue to adopt the going concern basis in preparing the financial statements.

1.3 Income

All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Page 8

NISSI LIFE CHURCH

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2020

1. ACCOUNTING POLICIES (continued)

1.4 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Support costs are those costs incurred directly in support of expenditure on the objects of the charity and include project management carried out at Headquarters. Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.

Costs of generating funds are costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds.

Charitable activities and Governance costs are costs incurred on the charity's educational operations, including support costs and costs relating to the governance of the charity apportioned to charitable activities.

All expenditure is inclusive of irrecoverable VAT.

1.5 Tangible fixed assets and depreciation

A review for impairment of a fixed asset is carried out if events or changes in circumstances indicate that the carrying value of any fixed asset may not be recoverable. Shortfalls between the carrying value of fixed assets and their recoverable amounts are recognised as impairments. Impairment losses are recognised in the Statement of financial activities.

Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Page 9

NISSI LIFE CHURCH

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2020

1. ACCOUNTING POLICIES (continued)

1.6 Investments

Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless fair value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and shown in the heading ‘Gains/(losses) on investments’ in the Statement of financial activities.

1.7 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.

1.8 Operating leases

Rentals under operating leases are charged to the Statement of financial activities on a straight line basis over the lease term.

1.9 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

1.10 Cash at Bank and in hand

Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

1.11 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised within interest payable and similar charges.

1.12 Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

1.13 Pensions

The charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the charity to the fund in respect of the period.

Page 10

NISSI LIFE CHURCH

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2020

1. ACCOUNTING POLICIES (continued)

1.14 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

2. INCOME FROM DONATIONS AND LEGACIES

Unrestricted
funds
2020
£
Donations
229,290
Grants
10,000
Gift aid receipts
41,171
Total donations and legacies
280,461
Total 2019
248,718		 Total
funds
2020
£
229,290
10,000
41,171
280,461
248,718		 Total
funds
2019
£
199,983
-
48,735
248,718

3. INVESTMENT INCOME

Unrestricted
funds
2020
£
Bank deposit interest
50
50
Total 2019
17		 Total
funds
2020
£
50
50
17		 Total
funds
2019
£
17
17

Page 11

NISSI LIFE CHURCH

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2020

4. RAISING FUNDS

Unrestricted
funds
2020
£
Motor, travel & subsistence
12,434
Rent & rates
68,535
Ushering costs
283
Repairs & renewals
5,942
Refreshments & hospitality
2,661
Pastoral expenses
851
Children and youth ministry expenses
40
Trustees remuneration
17,000
Advertising & publicity
-
Media, website & video production
8,233
Other staff costs
34,000
Depreciation
13,576
163,555
Total 2019
157,979
OTHER DIRECT COSTS - CHARITABLE
Charitable
activities
Conferences & seminar
7,961
Music ministry
32,010
Honorariums
4,205
Printing, postage and stationery
10,165
Welfare and Charitable donations
25,322
Subtotal
79,663
Car park costs
3,570
83,233
Total 2019
89,361		 Total
funds
2020
£
12,434
68,535
283
5,942
2,661
851
40
17,000
-
8,233
34,000
13,576
163,555
157,979
Total
2020
7,961
32,010
4,205
10,165
25,322
79,663
3,570
83,233
89,361		 Total
funds
2019
£
14,800
63,641
493
11,325
3,499
968
1,058
12,000
354
12,648
28,136
9,057
157,979
Total
2019
16,780
38,261
11,601
2,394
19,044
88,080
1,281
89,361

5. OTHER DIRECT COSTS - CHARITABLE

Page 12

NISSI LIFE CHURCH

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2020

6. SUPPORT COSTS

Light & heat
Printing, postage and stationery
Insurance
Total 2019		 Charitable
activities

£
5,326
1,593
4,488
11,407
10,660		 Govenance
costs
£
-
-
-
-
250		 Total
2020
£
5,326
1,593
4,488
11,407
10,910		 Total
2019
£
5,231
1,927
3,502
10,660

During the period ended 31 December 2020, the charity incurred the following Governance costs:

£ NIL (2019 - £NIL) included within the table above in respect of Charitable activities.

£ NIL (2019 - £NIL) included within the table above in respect of Costs of generating voluntary funds. £ NIL (2019 - £NIL) included within the table above in respect of Govenance costs.

£ NIL (2019 - £NIL) included within the table above in respect of Other costs.

7. GOVERNANCE COSTS

Unrestricted
funds
2020
£
Accountancy fees
1,340
Bank charges
2,880
Other legal & professional fees
300
Telecommunication costs
1,928
Computer costs
1,773
Hire of vehicle & equipment
16
Sundry expenses
388
Outreach & evangelism
-
Cleaning
3,708
Facilities management
2,358
Service charge
843
Training
518
Admin, caretaker and pastoral team costs
25,818
Employer's NI
147
Pension costs
1,003
43,020		 Total
funds
2020
£
1,340
2,880
300
1,928
1,773
16
388
-
3,708
2,358
843
518
25,818
147
1,003
43,020		 Total
funds
2019
£
1,700
3,021
1,079
1,098
554
2,488
-
230
2,900
6,375
800
250
-
563
620
21,678

Page 13

NISSI LIFE CHURCH

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2020

8. NET INCOME/(EXPENDITURE)

This is stated after charging:
2020
£
Depreciation of tangible fixed assets:
- owned by the charity
13,576
Auditors' remuneration - audit
1,000
9.
STAFF COSTS
Staff costs were as follows:
2020
£
Wages and salaries
51,147
Other pension costs
1,003
52,150
The average number of persons employed by the charity during the period was as follows:
2020
No.
Staff
2
No employee received remuneration amounting to more than £60,000 in either year.
10.
TRUSTEES' REMUNERATION
2020
£
Remuneration
17,000		 2019
£
9,057
1,350
2019
£
40,700
620
41,320
2019
No.
2
2019
£
12,000

During the period retirement benefits were accruing to 1 Trustee (2019 - 1) in respect of defined contribution pension schemes.

Page 14

NISSI LIFE CHURCH

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2020

11. TANGIBLE FIXED ASSETS

Cost
At 1 August 2019
Additions
At 31 December 2020
Depreciation
At 1 August 2019
Charge for the period
At 31 December 2020
Net book value
At 31 December 2020
At 31 July 2019
12.
FIXED ASSET INVESTMENTS
Market value
At 1 August 2019 and 31 December 2020
Investments at market value comprise:
Unlisted investments
All the fixed asset investments are held in the
13.
DEBTORS
Other debtors		 Music &
church
equipments
£
59,632
8,077
67,709
41,494
9,831
51,325
16,384
18,138
UK		 Motor
vehicles
Fixtures and
fittings
£
£
24,431
54,387
-
-
24,431
54,387
22,554
40,870
704
3,041
23,258
43,911
1,173
10,476
1,877
13,517
31 December
2020
£
16,534
31 December
2020
£
19,548		 Total
£
138,450
8,077
146,527
104,918
13,576
118,494
28,033
33,532
Unlisted
securities
£
16,534
31 July
2019
£
16,534
31 July
2019
£
18,703

Page 15

NISSI LIFE CHURCH

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2020

14. CREDITORS: Amounts falling due within one year

CREDITORS: Amounts falling due within one year

Other taxation and social security
Other creditors
Accruals and deferred income		 31 December
2020
£
5,685
138
1,000
6,823		 31 July
2019
£
2,779
139
1,250
4,168

15. PENSION COMMITMENTS

The charity operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the charity in an independently administered fund. The pension cost charge represents contributions payable by the charity to the fund and amounted to £1,003 (2019 - £620). Contributions totalling £138 (2019 - £139) were payable to the fund at the balance sheet date.

16. OPERATING LEASE COMMITMENTS

At 31 December 2020 the total of the Charity’s future minimum lease payments under non-cancellable operating leases was:

31 December 31 July
2020 2019
£ £
Amounts payable:
Between 1 and 5 years 126,178 163,000

17. RELATED PARTY TRANSACTIONS

There were no related party transactions other than those already disclosed elsewhere in the accounts.

Page 16