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||||Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|---|---|
||||funds|funds|funds|funds|
|||Note|2020
f|2020
f|2020
6|2019f|
|Income from:|||||||
|Donations
and legacies||4|3,242,264|312,016|3,554,280|4,582,825|
|Total income|||3,242,264|312,016|3,554,280|4,582,525|
|Expenditure
on:|||||||
|Charitable
activities||5|2,852,936|103,827|2,956,763|4,155,207|
|Total expenditum|||2,852,936|103,827|2,956,763|4,155,207|
|Net income|||389,328|208,189|597,517|427,618|
|Transfers between|funds|17|21,420|(21,420)|||
|Net movement
in funds|||410,748|186,769|597,517|427,618|
|Reconciliation
offunds:|||||||
|Total funds brought|forward||4,489,839|1,645,948|6,135,787|5,708,169|
|Net movement
in funds|||410,748|186,769|597,517|427,618|
|Total funds cardied forward|||4,900,587|1,832,717|6,733,304|6,135,787|
##
||||BALANCE|SHEET||||
|---|---|---|---|---|---|---|---|
||||AS AT 31 DECEMBER 2020|||||
||||Note||2020f||2019
f|
|Fixed assets||||||||
|Tangible assets|||10||5,975,695||6,045,692|
|Investments|||'11||62,000|||
||||||6.037,095||6,045,692|
|Current assets||||||||
|Debtors|||12|189,497||224,086||
|Cash at bank and|in|hand||2.091,495||1,583,829||
|||||2,280,992||1,807,915||
|Creditors: amounts|falling due within one|||||||
|year|||13|(468,781)||(525,389)||
|Net current assets|||||1,812,211||1,282528|
|Total assets less current liabilities|||||7,849,306||7,328,218|
|Creditors: amounts|falling due after more|||||||
|than one year|||14||(1,056,479)||(1,112,908)|
|Provisions for liabilities|||||(59,523)||(79,523)|
|Net assets excluding||pension asset|||6,733,304||6,135,787|
|Total net assets|||||6,733,304||6,135,787|
|Charity funds||||||||
|Restricted funds|||17||1,832,717||1,645,948|
|Unrestricted
funds|||17||4,900,587||4,489,839|
|Total funds|||||6,733,304||6,135,787|
##
|||STATEMENT OF CASH FLOWS|STATEMENT OF CASH FLOWS|||
|---|---|---|---|---|---|
||FOR THE||YEAR ENDED 31DECEMBER 2020|||
|||||2020
6|2019
f|
|Cash flows from operating|activities|||||
|Net cash used in operating|activities|||790,204|559,956|
|Cash flows from investing|activities|||||
|Proceeds from the sale oftangible fixed assets||||2,201||
|Purchase oftangible fixed assets||||(140,547)|(529,538)|
|Purchase ofinvestments||||(62,000)||
|Net cash used in investing|activities|||(200,346)|(629,538)|
|Cash Rows from financing|activities|||||
|Cash infiows from new borrowing|||||355,850|
|Repayments
of borrowing||||(125,269)|(I73,992)|
|New finance leases||||47,607||
|Repayments
offinance leases||||(4,530)||
|Net cash (used in)/provided
by financing|||activities|(82,192)|181,858|
|Change
in cash and cash|equivalents|in|the year|50'7,666|142,276|
|Cash end cash equivalents|at the beginning||ofthe year|1,583,829|1,441,553|
|Cash and cash equivalents|st the end of||the year|2,091,495|1,553,829|
|The notes on pages 21 to43 form part||ofthese financial statements||||
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||Unrestricted|Restncted|Total|
|---|---|---|---|
||funds|funds|funds|
||2019|2019|2019|
||5||5|
|Donations|4,301,625|281,200|4,582,825|
##
|Charitable|Activities|
|---|---|
|Charitable|Activities|
|Unmstricted|Restricted|Tobrl|
|---|---|---|
|funds|funds|funds|
|2020|2020|2020|
|6|6|6|
|2,852,936|103,827|2,956,763|
|Unrestncted|Restricted|Total|
|funds|funds|funds|
|2019|2019|2019|
|||5|
|4,049,310|105,897|4,155,207|
##
|||Activities|||
|---|---|---|---|---|
|||undertaken|Support|Total|
|||directly|costs|funds|
|||2020|2020|2020|
|||6|6|6|
|Charitable|Activities|1,945,737|1,011,026|2,956,763|
##
##
|6.|Analysis||ofexpenditure|ofexpenditure|ofexpenditure|by|activities (continued)||||
|---|---|---|---|---|---|---|---|---|---|---|
|||||||||Activities|||
|||||||||undertaken|Support|Total|
|||||||||directly|costs|funds|
|||||||||2019|2019|2019|
||Charitable||Activities|||||3,089,951|1,085,245|4,155,207|
||Analysis|ofdirect|||costs||||||
||||||||||Direct costs||
||||||||||-Charitable|Total|
||||||||||Activities|funds|
||||||||||2020|2020|
||||||||||8||
||Staff costs||||||||386,228|386,228|
||Donations,||grants|&outreach|||activities||67,320|67,320|
||Conferences
and|||events|||||419,393|419,393|
||Hospitality||and honorarium||||||3,377|3,377|
||Printing,|postage and stationery|||||||35,297|35,297|
||Welfare,|donations|||and local||projects||59,936|59,938|
||Advertising||and publicity||||||2,871|2,871|
||Motor and||travel||||||75,761|75,761|
||Rent and|rates|||||||895,552|695,652|
||||||||||1,945,737|1,945,737|
##
##
|6.|Analysis ofexpenditure|Analysis ofexpenditure|by|activities (continued)|||
|---|---|---|---|---|---|---|
||Analysis ofdirect|costs|(continued)||||
||||||Direct costs-||
||||||Charitabie|Total|
||||||Activities|funds|
||||||2019|2019|
||||||5||
||Staff costs||||383,074|353,074|
||Donations,
grants &outreach|||activities|156,979|156,979|
||Conferences
and events||||636,297|636,297|
||Hospitality
and honorarium||||45,569|45,569|
||Printing,
postage and stationery||||61,050|61,050|
||Welfare, donations|and local||projects|54,540|64,540|
||Advertising
and publicity||||10,781|10,761|
||Motor and travel||||307,565|307,565|
||Rent and rates||||1,424,106|1,424,106|
||||||3,089,951|3,059,961|
||Analysis ofsupport|costs|||||
||||||Charitable|Total|
||||||Activities|funds|
||||||2020|2020|
||||||6|6|
||Depreciation||||208,943|208,943|
||Subscriptions||||11,486|11,486|
||General expenses||||6,521|6,521|
||Telephone
and fax||||46,238|46,238|
||ITand software||||8,465|8,465|
||Repairs and renewals||||149,195|149,196|
||Electricity||||81,113|81,113|
||Insurance||||38,708|38,708|
||Premises expenses||||19,758|19,768|
||Interest||||58,956|68,956|
||Motor expenses||||15,516|15,516|
||Other support costs||||20,134|20,134|
||Governance
costs||||335,982|335,982|
||||||1,011,026|1,011,026|
##
##
##
##
|||||||Chantable|Total|
|---|---|---|---|---|---|---|---|
|||||||Activies|funds|
|||||||2019f|2019f|
|Depreciation||||||209,269|209,269|
|Subscriptions||||||9,005|9,005|
|General expenses||||||61,799|61,799|
|Telephone
and fax||||||50,140|50,140|
|IT and software||||||11,209|11,209|
|Repairs and|renewals|||||152,092|152,092|
|Electricity||||||117,621|117,S2f|
|Insurance||||||34,176|34,176|
|Premises expenses||||||31,609|31,609|
|Interest||||||74,455|74,455|
|Motor expenses||||||36,707|36,707|
|Other support costs||||||35,498|35,498|
|Governance|costs|||||241,SSS|241,666|
|||||||1,065,246|1,065,246|
|Auditors'
remunerabon||||||||
|||||||2020f|2019f|
|Fees payable|to the Charity's|auditor||for the audit ofthe Charity's|annual|||
|accounts||||||16,200|15,000|
|Fees payable|to the Charity's|auditor||in respect of:||||
|All non-audit|services not included||above|||2,600|2,200|
##
##
##
|||||2020
6|2019f|
|---|---|---|---|---|---|
|Wages and|salaries|||413,938|414,229|
|Social security costs||||31,934|32359|
|Contribution|to defined|contribution|pension schemes|14,334|f1,635|
|||||460,206|458,223|
##
|Trustees'|remuneratio|n
and expen|ses||||
|---|---|---|---|---|---|---|
||||||2020|2019|
||||||6|5|
|Bamidele|Omotayo||Remuneration||31,710|31,332|
||||Pension contributions|paid|1,268|1,253|
|Oluwafemi|Emmanuel|Oladipo|Remuneration||30,766|30,399|
||||Pension contributions|paid|1,231|1,216|
|Kehinde Williams|||Remuneration||2,800|4,800|
##
##
##
##
||Freehold|Plant and|Motor||
|---|---|---|---|---|
||property|machinery
5|vehicles
8|Totalf|
|Cost or valuation|||||
|At 1 January 2020|6,184,547|1,290,267|251,206|7,726,020|
|Additions||140,547||140,547|
|Disposals||(10,192)|(20,000)|(30,192)|
|At 31 December 2020|6,184,547|1,420,622|231,206|7,836,375|
|Depreciation|||||
|At 1 January 2020|381,982|1,054,089|244,257|1,680,328|
|Charge forthe year|88,380|120,126|2,638|211,144|
|On disposals||(10,192)|(20,000)|(30,192)|
|At 31 December 2020|470,362|1,164,023|226,895|1,861,280|
|Net book value|||||
|At 31 December 2020|5,714,185|256,599|4,311|5,975,095|
|At31December 2019|5,802,555|236,178|0,949|0,045,592|
##
||Unlisted|
|---|---|
||investmentsf|
|Cost or valuation||
|Additions|62,000|
|At 31 December 2020|62,000|
|Net hook value||
|At 31 December 2020|62,000|
||Page 33|
##
##
##
##
|||2020|2019|
|---|---|---|---|
|||5||
|Due within one year||||
|Other debtors||154,580|189,198|
|Prepayments|and accrued income|34,917|54,888|
|||189,497|224,088|
##
##
##
##
|||2020f|2019|
|---|---|---|---|
|Bank loans||161,421|151,312|
|Other taxation and social security||8,739|8,322|
|Obligations
under finance lease and hire purchase contracts||7,628||
|Other creditors||204,961|238,381|
|Accruals and deferred|income|86,012|117,374|
|||466,781|525,389|
##
##
|||||||||2020|2019f|
|---|---|---|---|---|---|---|---|---|---|
|Bank loans||||||||1,021,030|1,112,908|
|Net obligations||under|finance lease||and hire purchase|contracts||36,449||
|||||||||1,056379|1,112,908|
|The aggregate||amount||of liabilities|payable or repayable||wholly or in part more than five||years afier the|
|reporting|date|is:||||||||
|||||||||2020f|2019f|
|Payable|or repayable||by|instalments||||668,439|760,912|
|||||||||668,439|750,912|
##
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##
||Other|
|---|---|
||provisions|
||5|
|At 1 January 2020|79,523|
|Additions|(20,000)|
||59,523|
##
##
##
|Statement|of|funds - curre|nt year|||||
|---|---|---|---|---|---|---|---|
||||||||Balance at|
||||Balance at 1||||31|
||||January|||Transfers|December|
||||2020|Income|Expenditure|in/out|2020|
||||5|8|6|||
|Unrestricted||funds||||||
|General Funds - all funds|||4,489,839|3,242,264|(2,852,936)|21,420|4,900,587|
|Restricted|funds|||||||
|Restricted|Fund
1||1,645,948|312,016|(103,827)|(21,420)|1,832,717|
|Total offunds|||6,135,787|3,554,280|(2,956,763)||6,733,304|
##
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##
|Summary
offunds - prior year|||||
|---|---|---|---|---|
|||||Balance at|
||Balance at|||31|
||1January|||December|
||2019f|Income
f|Expenditure
f|2019|
|General funds|4,237,524|4,301,625|(4,049,310)|4,489,839|
|Restricted funds|1,470,645|281,200|(105,897)|1,645,948|
||5,708,169|4,582825|(4,155,207)|6,135,787|
##
##
|Analysis|ofnet assets|between funds - currant|period|||
|---|---|---|---|---|---|
||||Unrestricted|Restricted|Total|
||||funds|funds|funds|
||||2020f|2020|2020f|
|Tangible|fixed assets||4,863,019|1,112,076|5,975,095|
|Fixed asset investments||||62,000|82,000|
|Current assets|||1,419,641|861,351|2,280,992|
|Creditors|due within one year||(268,071)|(202,710)|(468,781)|
|Creditors|dus in more than one year||(1,056,479)||(1,056,479)|
|Provisions|for liabilities|and charges|(59,523)||(59,523)|
|Total|||4,900,587|1,832,717|6,733,304|
##
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##
|||2020|2019|
|---|---|---|---|
|||6||
|Not later than|1 year|425,858|395,292|
|Later than 1 year and not later than 5years||1,261,679|575,850|
|Later than 5years||27,500||
|||1,715,035|971,142|
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