| Board ofDirectors/Trustees | Board ofDirectors/Trustees | Board ofDirectors/Trustees | Dr Olusola David Oludoyi |
Dr Olusola David Oludoyi |
Dr Olusola David Oludoyi |
- Chair |
|---|---|---|---|---|---|---|
| Victoria Modupeola | Atere | |||||
| Adebisi Tajudeen | Olowu | |||||
| Ayodeji Philip Coo |
||||||
| Samuel Oladele Bakare | ||||||
| Charity registered | number | 1101824 | ||||
| Registered | oNce | RCCtS —Living Water | Parish | |||
| 169-171Haydons | Road | |||||
| South Wimbledon | ||||||
| London | ||||||
| SW19 BTB | ||||||
| Independent | Examiner | Abudey &Company | ||||
| First Floor | ||||||
| 1¹-16Powis Street | ||||||
| Woolwich, London |
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| SE186LF |
| Page | |||
|---|---|---|---|
| Report oftbe Trustees | I | to | 2 |
| independent Essntiner's Report |
|||
| Statement ofFinancial Activities | |||
| Balance Slteet | |||
| Notes to tbe Financial Statements | 6 | to | l3 |
| Detailed Statement ofFinancial Activities | I4 | to | 15 |
| ORTH | YEAR EN | DED 31 DECK | MBE 2 22 |
|||||
|---|---|---|---|---|---|---|---|---|
| 2022 | 2021 | |||||||
| Unrestricted | Restricted | Total | Total | |||||
| Notes | fund | fund f |
funds f |
fundsf | ||||
| INCOME | AND ENDOWMENTS | FROM | ||||||
| Donations | and legacies | 2 | 438,828 | 438,828 | 417,050 | |||
| Investmenl | income | 3 | 34 | 34 | ||||
| Total | 438,862 | 438.862 | 417,050 | |||||
| EXPENDITURE ON | ||||||||
| Parish-Ministry expenses |
4 | 41,349 | 41,349 | 6I,917 | ||||
| Charitable | activities | 5 | ||||||
| Missionary | &Charitable | Activities | 36,369 | 36,369 | 16,370 | |||
| Management &Administration |
251,036 | 251,036 | 245,058 | |||||
| Other costs | &depreciation | 43,748 | - | 43,748 | 57,607 | |||
| Total | 372,502 | 372,502 | 380,952 | |||||
| NET INCOME | 66,360 | 66,360 | 36,098 | |||||
| RECONCILIATION OF FUNDS |
||||||||
| Total funds | brought forward |
251,609 | 251,609 | 215,511 | ||||
| TOTAL FUNDS CARRIED FORWARD | 317.969 | ~317969 | 251,609 |
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||
| fund | fund | funds | funds | ||
| Notes | f | f | f | ||
| FIXED ASSk"I'S | |||||
| Tangible assets | 10 | 186,611 | 186.611 | 192,686 | |
| CURRENT ASSETS | |||||
| Debtors | 11 | 137,152 | 137,152 | 138,615 | |
| Cash at bmtk and in hand | 116,273 | 116,273 | 53,606 | ||
| 253,425 | 253,425 | 192,221 | |||
| CREDITORS | |||||
| Amounts falling due within one year |
12 | (7,050) | (7,050) | (8.066) | |
| NET CURRENT ASSETS | 246,375 | 246,375 | 184,155 | ||
| TOTAL ASSETSLESSCURRENT | |||||
| LIABILITIES | 432,986 | 432,986 | 376,841 | ||
| CREDITORS | |||||
| Amounts faliing duc atter more than one year |
13 | (115,017) | (115,017) | (125,232) | |
| NKT ASSETS | 317.969 | ~317969 | 251 609 | ||
| FUNDS | 15 | ||||
| Unrestricted funds |
317,969 | 251,609 | |||
| TOTAL FUNDS | 317.969 | 251,609 |
| life or, ifheld under | afinance le | ase, over the lease term, | whichev |
|---|---|---|---|
| lmprovmts to L/hold |
prop | 5%on reducing | balance |
| Church Equipment |
25%on reducing | balance | |
| Furniture &fittings | 15%on reducing | balance | |
| Motor vehicles | 25%on reducing | balance | |
| Office equipmen( | 20%on reducing | balance |
| 2022 | 2021f | |||
|---|---|---|---|---|
| Tithes and Offerings | 318,532 | 259,664 | ||
| Sundry Uonationsrincomc |
6,941 | 1,500 | ||
| Gilt Aid Claimed | 68,500 | 57,007 | ||
| Building Fund | 2,050 | 2,220 | ||
| Rental Income | 35,800 | 36,006 | ||
| Sale ofCommunion | Cups | 7,005 | 7,696 | |
| 3RSGrant | 52,957 | |||
| 438,828 | 4i7.050 | |||
| 3. | INVESTMENT INCOME | |||
| 2022 | 2021 | |||
| f | ||||
| Bank Interest | 34 | |||
| PARISH-MINISTRY EXPENSES | ||||
| Raising donations | and legacies | |||
| 2022f | 2021f | |||
| Honorarium & Guest Ministers |
15,272 | 10,640 | ||
| Youth and Outreach | Activities | 4,763 | 1.015 | |
| Minisny General Expenses |
5,166 | 9,827 | ||
| Special Programme | Expenses | 6.843 | 33,892 | |
| 32,044 | 55,374 | |||
| Other trading activities |
||||
| 2022f | 2021f | |||
| Purchases | 9,305 | 6,543 | ||
| Aggregate amounts |
~41 349 | 61,917 |
| Support | ||||||
|---|---|---|---|---|---|---|
| Direct | costs (see | |||||
| Costs f. |
nots 6) f |
Totals f |
||||
| Missionary | &Charitable | Activities | 36,369 | 36,369 | ||
| Management | &Administration | 251,036 | 251 036 | |||
| 36,368 | ~251 036 | 287,404 | ||||
| SUPPORT | COSTS | |||||
| Governance | ||||||
| Management f |
Finance f |
costs | Totals | |||
| Management | &,Administration | 238,537 | 7.219 | 5,280 | 251,036 |
| STAFF COS | TS | ||||
|---|---|---|---|---|---|
| 2022 | 2021 | ||||
| Wages and salaries | 127,300 | 122,605 | |||
| Social security cost» | 6,091 | 6,254 | |||
| Other pension | costs | 7,922 | 7,626 | ||
| 141,313 | 136,485 | ||||
| The average | monthly | number of employees | during the yem was as follows. | ||
| 2022 | 2021 | ||||
| StaE | 5 | 5 |
| KMED CHRISTIAN R FGOD CC WATER P ISH NO ESTO THF FINANCIA S T - continuetl R2 2 |
KMED CHRISTIAN R FGOD CC WATER P ISH NO ESTO THF FINANCIA S T - continuetl R2 2 |
KMED CHRISTIAN R FGOD CC WATER P ISH NO ESTO THF FINANCIA S T - continuetl R2 2 |
KMED CHRISTIAN R FGOD CC WATER P ISH NO ESTO THF FINANCIA S T - continuetl R2 2 |
KMED CHRISTIAN R FGOD CC WATER P ISH NO ESTO THF FINANCIA S T - continuetl R2 2 |
KMED CHRISTIAN R FGOD CC WATER P ISH NO ESTO THF FINANCIA S T - continuetl R2 2 |
|||
|---|---|---|---|---|---|---|---|---|
| COMPARATIVES FORTHE STATEMENT OF FINANCIAL ACTIVITIES | ||||||||
| Unmstricted | Restricted | Total | ||||||
| fund | fundf | fundsf | ||||||
| INCOME AND ENDOWMENTS | FROM | |||||||
| Donations and legacies |
417,050 | 417,050 | ||||||
| EXPENDITURE ON | ||||||||
| Patrish-Ministry expenses |
61.917 | 61,917 | ||||||
| Charitable running &Administration |
expenses | |||||||
| Missionary &Charitable | Activities | 16,370 | 16,370 | |||||
| Management &Administtntion |
245,058 | 245,058 | ||||||
| Other costs and depreciation | ~57 607 | 57,607 | ||||||
| Total | 380,952 | 380952 | ||||||
| NET INCOME | 36,098 | 36,098 | ||||||
| RECONCILIATION | OF FUNDS | |||||||
| Total funds brought forward |
215,5I I | 215,511 | ||||||
| TOTAL FUNDS CARRIED FORWARD | 251,609 | 251,609 | ||||||
| 10. | TANGIBLE FIXEDASSETS | |||||||
| Improvmts | ||||||||
| to Uhold | Church | Furniture | ||||||
| prop f |
Equipment f |
&, llttings f |
||||||
| COST | ||||||||
| At I January 2022 | 389,084 | 176,551 | 48.575 | |||||
| Additions | 10,583 | |||||||
| At 31 December 2022 | 389,084 | 187,134 | 48,575 | |||||
| DEPRECIATION | ||||||||
| At I January 2022 | 221,457 | 160,583 | 43,907 | |||||
| Charge for year | 8.381 | 6,638 | 700 | |||||
| At 31 December 2022 | 229,838 | 167,221 | 44,607 | |||||
| NET BOOK VALUE | ||||||||
| At 31 December 2022 | ~159246 | 19,913 | 3,968 | |||||
| At 31 December 2021 | 167.627 | ~15 968 | 4,668 |
| TANGIBLE FIXEDASSETS - continued | |||
|---|---|---|---|
| Motor | Office | ||
| vehicles | equipment f |
Totals f |
|
| COST | |||
| At I January 2022 Additions |
26,591 | 18,321 | 659,122 ~10583 |
| At 31 December 2022 | 26,591 | ~18 321 | 669.705 |
| DEPRECIATION | |||
| At I January 2022 Charge for year |
25,498 273 |
14,991 666 |
466,436 ~I6 658 |
| At 3 I December 2022 | ~25 771 | ~15 657 | 483.094 |
| NET BOOK VALUE | |||
| At 31 December 2022 | 820 | 2,664 | ~I86 611 |
| At 31December 2021 | 1,093 | 3.330 | 192.686 |
| Church | |||||
|---|---|---|---|---|---|
| Equipment | |||||
| COST | |||||
| At I January 2022 and | 31 December 2022 | 39,206 | |||
| DEPRECIATION | |||||
| At I January 2022 Charge for year |
32,163 ~176ii |
||||
| At 31 December | 2022 | 33,924 | |||
| NET BOOK VALUE | |||||
| At 31 December | 2022 | 5,282 | |||
| At 31 December | 2021 | 7,043 | |||
| 11. | DEBTORS | ||||
| 2022 | 2021 | ||||
| f | |||||
| Amounts falling Other Debtors |
due within one year. | ~5152 | 6,615 | ||
| Amounts fulling |
duc ager more than one year: | ||||
| LWP Assets investment | Ltd | 132.000 | 132,000 | ||
| Aggregate amounts |
137,152 | 138,615 |
| 12, | CREDITOR | S; AMOUNTS FA | LL!NG DUE WITHIN ONE | YEAR | ||
|---|---|---|---|---|---|---|
| 2022 | 2021 | |||||
| f | ||||||
| Taxation and | social security | 2,769 | 3.976 | |||
| Other creditors | 4.281 | 4,090 | ||||
| ~7050 | 8,066 | |||||
| 13. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE | THAN ONE | YEAR | |||
| 2022 | 2021 | |||||
| f | f. | |||||
| Bank loans (see note 14) | 39,785 | 50,000 | ||||
| Other creditors | ~75 232 | 75,232 | ||||
| 115,017 | 125,232 | |||||
| 14. | LOANS | |||||
| An analysis ofthe maturity ofloans is given below: | ||||||
| 2022 | 2021 | |||||
| Amounts falling due in morc than |
five years: | |||||
| Repayable by |
instalments: | |||||
| Bank loans more 5yr by instal | 39,785 | 50,000 | ||||
| 15. | MOVEMENT IN FUNDS | |||||
| Net | ||||||
| movement | At | |||||
| At 1,1.22 f |
in funds f |
31.12.22 f |
||||
| Unrestricted | funds | |||||
| General fund | 251.609 | 66,360 | 317,969 | |||
| TOTAL FUNDS | 251,609 | 66,360 | 31'1.969 | |||
| Net movement | in funds, included | in the above are as follows: | ||||
| incoming | Resources | Movement | ||||
| i'i"sources | cxpcndcd | in funds | ||||
| I. | ||||||
| Unrestricted | funds | |||||
| General fund |
438,861 | (372,501) | 66,360 | |||
| TOTAL FUNDS | 438,861 | I372,501) | 66.360 |
| Compara | tives | for movement in fumls |
|||
|---|---|---|---|---|---|
| Net | |||||
| movement | At | ||||
| At 1.1.21 | in funds | 31.12.21 | |||
| f. | f | ||||
| Unrestricted | funds | ||||
| General | fund | 215,511 | 36,098 | 251,609 | |
| TOTAL | FUNDS | 215,511 | 36,098 | 251.609 |
| Incoming | Resources | Movement | |||
|---|---|---|---|---|---|
| resources I |
expended | in funds | |||
| Unrestricted | funds | ||||
| General | fund | 417,050 | (380,952) | 36,098 | |
| TOTAL | FUNDS | ~417050 | t380,952) | 36,098 |
| Net | |||||
|---|---|---|---|---|---|
| movement | At | ||||
| At 1,1.21 | in funds | 3 1,12.22 | |||
| f | f | f | |||
| Unrestricted | funds | ||||
| General | fund | 215,511 | 102,458 | 317.969 | |
| TOTAL | FUNDS | 215,511 | 102,458 | 317,969 |
| incoming | Resources | Movement | |||
|---|---|---|---|---|---|
| resources | expended | in funds | |||
| F. | |||||
| Unrestricted | funds | ||||
| General | fund | 855,911 | (753,453) | 102,458 | |
| TOTAL | FUNDS | 855,911 | ~753.453 | 102,458 |
FORTHE YEAIIENDED 31D |
ECEMBER 2022 |
||
|---|---|---|---|
| 2022 | 2021 | ||
| 8 | |||
| INCOME AlqD ENDOWMENTS | |||
| Donations and legacies |
|||
| Tithes and Offerings | 318,532 | 259,664 | |
| Sundry Donations/Income | 6,941 | 1,500 | |
| Gih Aid Claimed | 68,500 | 57,007 | |
| Building Fund |
2,050 | 2,220 | |
| Rental Income | 35,800 | 36,006 | |
| Saleof Communion Cups |
7,005 | 7,696 | |
| JRS Grant | 52,957 | ||
| 438,828 | 417,050 | ||
| Investment income |
|||
| Bank Interest | 34 | ||
| Total incoming resources |
438,862 | 417,050 | |
| EXPENDITURE | |||
| Raising donations and legacies |
|||
| Honorarium &Guest Ministers |
15,272 | 10,640 | |
| Youth and Outreach Activities | 4,763 | 1,015 | |
| Ministry General Expenses |
5,166 | 9,827 | |
| Special Programme Expenses |
6,843 | 33,892 | |
| 32,044 | 55,374 | ||
| Other trading activities | |||
| Purchases ofCommunion | Cups | 9,305 | 6,543 |
| Charitable activities |
|||
| WEM-World Evangelism |
Mission | 12,000 | 11,250 |
| Central Oflice and Others | 1,800 | 1,800 | |
| Home Mission &Other Church Societics | 20,649 | 1,350 | |
| Donations to Festival ofLife |
1,200 | 1,200 | |
| Secular Charities &Relic(oEPoverty | 720 | 770 | |
| 36,369 | 16,370 | ||
| Other costs & deprecintion | |||
| Repairs, scrrvicing and maintcnancc |
17,254 | 30,314 | |
| Miscellaneous expenses |
161 | 101 | |
| Insurance and Licences |
9„675 | 11,026 | |
| Depn-Improv't L/hold property |
8,381 | 8,822 | |
| Depn ofchurch equipment | 6,638 | 5,323 | |
| Depn of furnimre & linings |
700 | 824 | |
| Depn ofmotor vehicles | 273 | 364 | |
| Carried fonvard | 43,082 | 56,774 |
| DEr ILEDSTA KNTOFFI |
A | I ITIK |
S | ||
|---|---|---|---|---|---|
| ORTHE YEAR ENDED | D | BKR2022 | |||
| 2022 8 |
2021f | ||||
| Otlier costs &depreciation | |||||
| Brought forward | 43,082 | 56,774 | |||
| Depn ofoAice equipment | 666 | 833 | |||
| 43,748 | 57,607 | ||||
| Support costs | |||||
| Church Management | &Administration | ||||
| Staff Wages and Salaries | 127,300 | 122,605 | |||
| Employer's National Insurance |
6,091 | 6„254 | |||
| Pensions | 7,922 | 7,626 | |||
| Hire ofEquipment | 103 | 388 | |||
| Rent and Rates | 80.628 | 82,092 | |||
| Telephone | 5,898 | 5,847 | |||
| Printing, Postage & Stationery |
1,443 | 3372 | |||
| Advertising | 549 | 1,879 | |||
| Computer Consumables |
650 | 68 | |||
| Internet &Subscription | 1,347 | 1,124 | |||
| Motor &Transportation | 6,606 | ~5201 | |||
| 238,537 | 236,456 | ||||
| Finance | |||||
| Hire Purchase | 7,200 | 6,412 | |||
| Bank charges & interest | 19 | ||||
| 7,219 | 6,412 | ||||
| Governance costs |
|||||
| Audit and Accountancy | Peas | 2,080 | 1,890 | ||
| Legal and Consultancy | Fees | 3,200 | 300 | ||
| 5,280 | 2,190 | ||||
| Total resources expended | 372,501 | 380.952 | |||
| Net income | 66,360 | ~36 098 |