SPIRIT OF LIFE CHURCH Financial Report and Accounts for the year ended 31ST JULY 2022 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) Mr Ognyan Mihaylov (appointed 1 Oct 2020) Mr william Terence Memredith (appointed 9 Jan 2022)
Registered charity number
1099059
Registered office & operations 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
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SPIRIT OF LIFE CHURCH Financial Report and Accounts for the year ended 31ST JULY 2022 Trustees Report
The Trustees' present their annual account for the period of accounts.
Principal activity and objectives
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the advancement of the christian faith worldwide in accordance with the doctrines set out in the statement of faith contained in the schedule
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the relief of the poor and needy
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the furtherance of religious or secular education
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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
The trustees are happy that the goal for the financial year has been achieved. We see a drop income from the previous year because the previous year was the purchase of property for the charity- the year of the purchase being high income. Expenditure has been reduced and that will continue into the new year.
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)
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SPIRIT OF LIFE CHURCH Financial Report and Accounts for the year ended 31ST JULY 2022 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:
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the accounting records were not kept in accordance with section 130 of the Charities Act; or
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the accounts did not accord with the accounting records; or
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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.....................................................
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SPIRIT OF LIFE CHURCH Financial Report and Accounts
Statement of Financial Activities (including Income and Expenditure Account) for the year ended 31ST JULY 2022
| Unrestricted Funds Notes £ Incoming resources: Voluntary Donations 45,395 Gift Aid Receipt 9,638 Building Fund Donations - Grant Received 3,905 Total Incoming resources 58,938 Resources Expended: Resources Expended 4 52,668 Total Resources Expended 52,668 Net Surplus / (Deficit) for the year 6,270 Opening Funds 150,559 Closing Funds 156,829 |
2022 £ 45,395 9,638 - 3,905 58,938 52,668 52,668 6,270 150,559 156,829 |
2021 £ 65,916 11,667 11,000 17,471 |
|---|---|---|
| 106,054 | ||
| 60,374 | ||
| 60,374 | ||
| 45,680 104,879 |
||
| 150,559 |
No restricted funds at the end of the year
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SPIRIT OF LIFE CHURCH Financial Report and Accounts
Balance Sheet as at 31ST JULY 2022
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| Fixed Assets | |||||
| freehold Building at cost | 120,000 | 120,000 | |||
| Other tangible fixed asest | 2 | 3,685 | 4,152 | ||
| 123,685 | 124,152 | ||||
| Current Assets | |||||
| Debtors and loans | - | 2,700 | |||
| Cash at Bank | 35,136 | 24,708 | |||
| 35,136 | 27,408 | ||||
| Less: Current Liabilities | 3 | (1,992) | (1,001) | ||
| Net Current Assets | 33,144 | 26,407 | |||
| 156,829 | 150,559 | ||||
| REPRESENTED BY: | |||||
| Unrestricted Funds | 156,829 | 150,559 | |||
| 156,829 | 150,559 | ||||
| Signed on behalf of the trustees |
………………………………. Date ………………………………. Reverend Dia Moodley (Chair)
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SPIRIT OF LIFE CHURCH Financial Report and Accounts
Notes forming part of the financial statements for the year ended 31ST JULY 2022
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 2021 Additions As at 31ST JULY 2022 Depreciation: As at 1 August 2021 Charge As at 31ST JULY 2022 Net Book Value: As at 1 August 2021 As at 31ST JULY 2022 |
Equipment £ 29,112 454 29,566 24,960 921 25,881 4,152 3,685 |
Total £ 29,112 454 |
|---|---|---|
| 29,566 | ||
| 24,960 921 |
||
| 25,881 | ||
| 4,152 3,685 |
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SPIRIT OF LIFE CHURCH Financial Report and Accounts
Notes forming part of the financial statements for the year ended 31ST JULY 2022
| 3. Creditors (amount falling due within one year) Accruals PAYE/NI liability 4. Resources Expended Outreach & Evangelism Honararium & Donations Vicarage Allowance Salaries & Pension cost Office Cost & Sundries Telephone & Internet Repairs, Renewals & Maintenance Legal & Professional Fees Accountancy Fees Insurance & Licences Sundry Expenses Depreciation Total |
2022 £ 900 1,092 1,992 2022 Total £ 4,176 1,258 12,000 24,890 2,693 1,686 1,337 1,725 1,318 664 - 921 52,668 |
2021 £ 900 101 |
|---|---|---|
| 1,001 | ||
| 2021 Total £ 3,580 4,129 12,000 20,324 4,079 1,589 7,448 1,629 1,180 832 2,546 1,038 |
||
| 60,374 |
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Registered Charity No: 1099059
SPIRIT OF LIFE CHURCH Financial Report and Accounts
for the year ended 31ST JULY 2022
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 2022 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 |