SPIRIT OF LIFE CHURCH Financial Report and Accounts for the year ended 31ST JULY 2021 Legal and administrative information
Status
The organisation was registered as a charity on 19 August 2003 under the old name Revival Ministries UK. In 2009 the charity name was changed to Spirit of Life Church.
Current List of Trustees
Reverend Dia Moodley (Chair) Mrs Ruth Larson Mr Ognyan Mihaylov
Registered charity number
1099059
Registered office address
Unity Chapel Romney Avenue BRISTOL BS7 9ST
Bankers
Accountants
Lloyds Bank AL Accounting Solutions Chartered Certified Accountants 21A Brighton Road South Croydon, Surrey CR2 6EA
1
SPIRIT OF LIFE CHURCH Financial Report and Accounts for the year ended 31ST JULY 2021 Trustees Report
The Trustees' present their annual account for the period of accounts.
Principal activity and objectives
• the advancement of the christian faith worldwide in accordance with the doctrines set out in the statement of faith contained in the schedule
-
the relief of the poor and needy
-
the furtherance of religious or secular education
-
such other charitable objects and for the benefit of such other charitable institutions as the trustees in their absolute discretion shall think fit.
Review of the period of accounts and future developments
This has been a good financial year in that we have purchased a property with already accumulated funds. We have zero monthly mortgage to pay. Our reserves look strong and healthy for the year ahead.
Statement of trustees' responsibility
The trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
By order of the Board
……………………………….
Reverend Dia Moodley (Chair)
2
SPIRIT OF LIFE CHURCH Financial Report and Accounts for the year ended 31ST JULY 2021 Independent Examiner's report to the Trustees
I report to the trustees on my examination of the accounts of the above charity for the above period.
Responsibilities and basis of report:
As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).
I report in respect of my examination of the Trust’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 Act.
Independent examiner's statement:
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination 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.
Alhassan Bangura FCCA Chartered Certified Accountants AL Accounting Solutions 21A Brighton Road South Croydon, Surrey CR2 6EA
Date.....................................................
3
SPIRIT OF LIFE CHURCH
Financial Report and Accounts
Statement of Financial Activities (including Income and Expenditure Account) for the year ended 31ST JULY 2021
| Unrestricted Funds Notes £ Incoming resources: Voluntary Donations 65,916 Gift Aid Receipt 11,667 Building Fund Donations 11,000 Grant Received 17,471 Total Incoming resources 106,054 Resources Expended: Resources Expended 4 60,374 Total Resources Expended 60,374 Net Surplus / (Deficit) for the year 45,680 Opening Funds 104,879 Closing Funds 150,559 |
2021 £ 65,916 11,667 11,000 17,471 106,054 60,374 60,374 45,680 104,879 150,559 |
2020 £ 51,462 10,471 1,600 8,701 |
|---|---|---|
| 72,234 | ||
| 48,167 | ||
| 48,167 | ||
| 24,067 80,812 |
||
| 104,879 |
No restricted funds at the end of the year
4
SPIRIT OF LIFE CHURCH
Financial Report and Accounts
Balance Sheet as at 31ST JULY 2021
| 2021 | 2020 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| Fixed Assets | |||||
| Building at cost | 120,000 | - | |||
| Other tangible fixed asest | 2 | 4,152 | 3,406 | ||
| 124,152 | 3,406 | ||||
| Current Assets | |||||
| Debtors and loans | 2,700 | - | |||
| Cash at Bank | 24,708 | 78,252 | |||
| 27,408 | 78,252 | ||||
| Less: Current Liabilities | 3 | (1,001) | (744) | ||
| Net Current Assets | 26,407 | 77,508 | |||
| 150,559 | 80,914 | ||||
| REPRESENTED BY: | |||||
| Unrestricted Funds | 150,559 | 80,914 | |||
| 150,559 | 80,914 | ||||
| Signed on behalf of the trustees |
………………………………. Reverend Dia Moodley (Chair)
Date ……………………………….
5
SPIRIT OF LIFE CHURCH Financial Report and Accounts
Notes forming part of the financial statements for the year ended 31ST JULY 2021
1. Accounting policies
a) The accounts (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 in October 2019 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2019.
b) Voluntary income is received by the way of donations towards religious tithes and offerings. Donations received is included in full in the Statement of Financial Activities in the year in which they are received.
c) Resources expended are recognised in the period in which they are incurred. Resources expended include attributable VAT which cannot be recovered.
d) Depreciation is provided at rates calculated to write off the cost of each asset over its expected useful life as follows:
- Equipment & Furniture 20%
e) Unrestricted funds are donations and other incoming resources received for the objects of the charity without further specified purpose and are available as general funds.
f) Restricted funds are to be used for specific purposes as laid down by the donor.
2. Other Tangible Fixed Assets
| Cost: As at 1 August 2020 Additions As at 31ST JULY 2021 Depreciation: As at 1 August 2020 Charge As at 31ST JULY 2021 Net Book Value: As at 1 August 2020 As at 31ST JULY 2021 |
Equipment £ 28,487 625 29,112 23,922 1,038 24,960 4,565 4,152 |
Total £ 28,487 625 |
|---|---|---|
| 29,112 | ||
| 23,922 1,038 |
||
| 24,960 | ||
| 4,565 4,152 |
6
SPIRIT OF LIFE CHURCH Financial Report and Accounts
Notes forming part of the financial statements for the year ended 31ST JULY 2021
| 3. Creditors (amount falling due within one year) Accruals PAYE/NI liability 4. Resources Expended Outreach & Evangelism Honararium & Donations Vicarage Allowance Salaries & Pension cost Rent & Hall Hire Office Cost & Sundries Printing, Postage & Stationery Telephone & Internet Repairs, Renewals & Maintenance Legal & Professional Fees Accountancy Fees Insurance & Licences Sundry Expenses Depreciation Total |
2021 £ 900 101 1,001 2021 Total £ 3,580 4,129 12,000 20,324 164 3,451 628 1,589 7,448 1,629 1,180 832 2,382 1,038 60,374 |
2020 £ 720 18 |
|---|---|---|
| 738 | ||
| 2020 Total £ 975 3,969 12,000 23,711 2,413 399 - 1,993 - - 1,119 447 - 1,141 |
||
| 48,167 |
7
Registered Charity No: 1099059
SPIRIT OF LIFE CHURCH Financial Report and Accounts
for the year ended 31ST JULY 2021
AL Accounting Solutions Limited Chartered Certified Accountants 21A Brighton Road South Croydon, Surrey CR2 6EA
SPIRIT OF LIFE CHURCH Financial Report and Accounts for the year ended 31ST JULY 2021 Contents
| 1 | Legal and administrative information |
|---|---|
| 2 | Trustees Report |
| 3 | Independent Examiner's report |
| 4 | Statement of Financial Activities |
| 5 | Balance Sheet |
| 6-7 | Notes forming part of the financial statements |