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|Trustees|||Mr PAAdefarasin|||
|---|---|---|---|---|---|
||||Mr AOyewumi|||
||||Mr AOluwaleimu|||
||||Dr C Ujam|(Appointed|6 October|
|||||2021)||
|Charity|number||1102396|||
|Company||number|4824843|||
|Principal|address||The Rock Tower|||
||||49Tufnell Park Road|||
||||London|||
||||N7 OPS|||
|Registered||office|The Rock Tower|||
||||49 Tufnell Park Road|||
||||London|||
||||N7 OPS|||
|Auditor|||D Lee 8Co|||
||||2nd Floor, Premier House|||
||||309Ballards Lane|||
||||London|||
||||N12 8LY|||
|Bankers|||Barclays Bank PLC|||
||||131 Finchley Road|||
||||London|||
||||NW3 6HY|||
|Solicitors|||Stone King|||
||||39 Cloth Fair|||
||||London|||
||||EC1A7JQ|||





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|||Page|
|---|---|---|
|Trustees'<br>report||1-6|
|Statement oftrustees'|responsibilities||
|Independent<br>auditor's|report|8-10|
|Statement offinancial|activities||
|Balance sheet||12|
|Statement<br>ofcash flows||13|
|Notes to the financial|statements|14-24|





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||||Unrestricted|Restricted|Total|Unrestricted|Restricted|Total|
|---|---|---|---|---|---|---|---|---|
||||funds|funds||funds|funds||
||Notes||2020<br>E|2020<br>6|2020<br>6|2019<br>6|2019<br>6|2019f|
|lgggtttafttttL|||||||||
|Donations<br>and legacies||3|424,969||424,969|535,378||535,378|
|Activities for generating|||||||||
|fund|||(169)||(169)|217||217|
|Investments|||47,782||47,782|130,458||130,458|
|Total income|||472,582||472,582|666,053||666,053|
|RefmIRgmua:|||||||||
|Raising funds||6|23,669||23,669|8,449||8,449|
|Charitable<br>activities||7|530,176|14,485|544,661|657,014|14,485|671,499|
|Total resources|||||||||
|expended|||553,845|14,485|568,330|665,463|14,485|679,948|
|Net expenditure|for the|year/|||||||
|Net movement|in funds||(81,263)|(14,485)|(95,748)|590|(14,485)|(13,895)|
|Fund balances|at 1||||||||
|January 2020|||2,525,358|565,940|3,091,298|2,524,768|580,425|3,105,193|
|Fund balances|at 31||||||||
|December 2020|||2,444,095|551,455|2,995,550|2,525,358|565,940|3,091,298|





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||||||2020|2019|
|---|---|---|---|---|---|---|
|||||Notes|5|8|
|Fixed assets|||||||
|Tangible assets|||||5,677,603|5,823,170|
|Current assets|||||||
|Debtors||||13|4,252|9,669|
|Cash at bank and||in|hand||55,790|28,746|
||||||60,042|38,415|
|Creditors:|amounts||falling due within||||
|one year||||15|(663,751)|(691,784)|
|Net current|liabilities||||(603,709)|(653,369)|
|Total assets less||current liabilities|||5,073,894|5,169,801|
|Creditors:|amounts||falling due after||||
|more than|one year|||16|(2,078,344)|(2,078,503)|
|Net assets|||||2,995,550|3,091,298|
|Income funds|||||||
|Restricted|funds|||17|551,455|565,940|
|Unrestricted|funds||||2,444,095|2,525,358|
||||||2,995,550|3,091,298|



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||||||||2020||2019||
|---|---|---|---|---|---|---|---|---|---|---|
|||||||Notes|6||6||
|Cash flows from operating|||activities||||||||
|Cash generated<br>from/(absorbed|||||by)|23|||||
|operations||||||||16,269||(21,944)|
|Investing||activities|||||||||
|Purchase|oftangible<br>fixed assets||||||(12,398)||||
|lnvesimenl||income received|||||47,782||130,458||
|Net cash <br>activities|generated<br>from investing|||||||35,384||130,458|
|Financing||activities|||||||||
|Repayment||of bank loans|||||(24,609)||(95,663)||
|Net cash||used in financing|activities|||||(24,609)||(95,663)|
|Net increase<br>in cash and cash|||||equivalents|||27,044||12,851|
|Cash and||cash equivalents|at|beginning||ofyear||28,746||15,895|
|Cash and||cash equivalents||at|end of|year||55,790||28,746|





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|||Unrestricted|Unrestricted|
|---|---|---|---|
|||funds|funds|
|||2020|2019|
|||6|6|
|Donations|and gifts|387,885|535,378|
|Coronavirus|Job Retention Scheme|37,084||
|||424,969|535,378|



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||||Unrestricted|Unrestricted|
|---|---|---|---|---|
||||funds|funds|
||||2020|2019|
||||6|6|
|Non-charitable|trading|activities|(169)|217|
|Investments|||||
||||Unrestricted|Unrestricted|
||||funds|funds|
||||2020|2019|
||||6|6|
|Rental income|||47,776|130,451|
|Interest receivable|||6|7|
||||47,782|130,458|





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|||||Unrestricted|Unrestricted|
|---|---|---|---|---|---|
|||||funds|funds|
|||||2020|2019|
|||||6|F|
|Advertising||||23,669|8,449|
|||||23,669|8,449|
|Charitable|activities|||||
|||||Religious|Religious|
|||||activities|activities|
|||||2020|2019|
|||||6|8|
|Staff costs||||57,445|57,042|
|Depreciation||and impairment||147,595|147,595|
|Religious|activities|||74,380|175,937|
|||||279,420|380,574|
|Share of support costs (see note 8)||||204,641|234,408|
|Share of governance|||costs (see note 8)|60,600|56,517|
|||||544,661|671,499|
|Analysis|by|fund||||
|Unrestricted||funds||530,176|657,014|
|Restricted|funds|||14,485|14,485|
|||||544,661|671,499|
|Forthe year ended|||31 December 2019|||
|Unrestricted||funds||657,014||
|Restricted|funds|||14,485||
|||||671,499||



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|8|Support costs|||||||
|---|---|---|---|---|---|---|---|
|||Support|Governance|2020|Support|Governance|2019|
|||costs|costs||costs|costs||
|||6|6||6|F||
||Staff costs|78,825|49,112|127,937|76,119|48,768|124,887|
||Depreciation|10,370||10,370|9,694||9,694|
||Repairs, maintenance<br>and security costs|2,635||2,635|11,490||11,490|
||Rates and utilities costs|20,190||20,190|22,990||22,990|
||Other indirect cost|3,516||3,516|4,299||4,299|
||Bank charges and bank|||||||
||loan interest|53,630||53,630|68,069||68,069|
||Travel expenses|45||45|164||164|
||Telephone|3,912||3,912|3,334||3,334|
||Insurance|10,685||10,685|10,742||10,742|
||Cleaning costs|11,366||11,366|17,500||17,500|
||Computer expenses|9,467||9,467|10,007||10,007|
||Audit fees||4,000|4,000||4,000|4,000|
||Accountancy||7,488|7,488||3,749|3,749|
|||204,641|60,600|265,241|234,408|56,517|290,925|
||Analysed<br>between|||||||
||Charitable<br>activities|204,641|60,600|265,241|234,408|56,517|290,925|



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|The average<br>|monthly<br>number ofemployees<br>during|the year was:||
|---|---|---|---|
|||2020|2019|
|||Number|Number|
|Religious||||
|Administration||||
|Employment|costs|2020|2019|
|||6||
|Wages and salaries||170,672|169,447|
|Social security|costs|9,758|8,065|
|Other pension|costs|4,952|4,417|
|||185,382|181,929|



||||Freehold land|Fixtures,|Total|
|---|---|---|---|---|---|
||||and buildings|fittings s,||
|||||equipment||
|||||8||
|Cost||||||
|At 1 January|2020||7,379,754|634,267|8,014,021|
|Additions||||12,398|12,398|
|At 31 December 2020|||7,379,754|646,665|8,026,419|
|Depreciation|and impairment|||||
|At 1 January|2020||1,585,666|605,185|2,190,851|
|Depreciation|charged|in the year|147,595|10,370|157,965|
|At 31 December 2020|||1,733,261|615,555|2,348,816|
|Carrying<br>amount||||||
|At 31 December 2020|||5,646,493|31,110|5,677,603|
|At 31 December 2019|||5,794,088|29,082|5,823,170|





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|12|Financial|instruments|instruments|||||2020|2019|
|---|---|---|---|---|---|---|---|---|---|
|||||||||6|8|
||Carrying|amount|offinancial|||assets||||
||Debt instruments||measured||at|amortised|cost|4,252|9,669|
||Carrying|amount|offinancial|||liabilities||||
||Measured|at amortised||cost||||2,740,022|2,764,561|
|13|Debtors|||||||||
|||||||||2020|2019|
||Amounts|falling|due within||one year:|||6|8|
||Other debtors|||||||4,252|9,669|
|14|Loans and overdrafts|||||||||
|||||||||2020|2019|
|||||||||6|6|
||Bankloans|||||||2,078,344|2,102,953|
||Payable|within one year|||||||24,450|
||Payable|after one|year|||||2,078,344|2,078,503|
||Amounts|included|above which|||fall due|after five years:|||
||Payable|by instalments||||||1,694,708|1,693,871|



## 

||||2020|2019|
|---|---|---|---|---|
|||Notes|6|6|
|Bank loans||14||24,450|
|Other taxation and social security|||2,073|5,726|
|Trade creditors|||656,236|655,412|
|Other creditors|||1,122|1,876|
|Accruals and deferred|income||4,320|4,320|
||||663,751|691,784|





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|Credi|tors: amounts<br>falling due after|more than one year|||
|---|---|---|---|---|
||||2020|2019|
|||Notes|E|E|
|Bank|loans|14|2,078,344|2,078,503|




|||||Balance at|Resources|Balance at|Resources|Balance at|
|---|---|---|---|---|---|---|---|---|
||||1|January 2019|expended1|January 2020|expended|31 December|
|||||||||2020|
||||||||E|E|
|Land|and|building||580,425|(14,485)|565,940|(14,485)|551,455|



|18|Analysis of net assets|between<br>funds||||||
|---|---|---|---|---|---|---|---|
|||Unrestricted|Restricted|Total|Unrestricted|Restricted|Total|
|||funds|funds||funds|funds||
|||2020|2020|2020|2019|2019|2019|
|||E|E|E|E|E|E|
||Fund balances at 31|||||||
||December 2020 are|||||||
||represented<br>by:|||||||
||Tangible assets|5,126,148|551,455|5,677,603|5,257,230|565,940|5,823,170|
||Current assets/|||||||
||(liabilities)|(603,709)||(603,709)|(653,369)||(653,369)|
||Long term liabilities|(2,078,344)||(2,078,344)|(2,078,503)||(2,078,503)|
|||2,444,095|551,455|2,995,550|2,525,358|565,940|3,091,298|



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|2020|2019|
|---|---|
|E||
||1,317|



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||||||||2020|2019|
|---|---|---|---|---|---|---|---|---|
||||||||8|8|
||Aggregate<br>compensation||||||57,446|57,042|
|23|Cash generated<br>from|operations|||||2020|2019|
||||||||8|6|
||Deficit for the year||||||(95,748)|(13,895)|
||Adjustments<br>for:||||||||
||Investment<br>income recognised||in|statement|offinancial|activities|(47,782)|(130,458)|
||Depreciation<br>and impairment||oftangible fixed assets||||157,965|157,289|
||Movements<br>in working|capital:|||||||
||Decrease/(increase)<br>in|debtors|||||5,417|(1,354)|
||(Decrease) in creditors||||||(3,583)|(33,526)|
||Cash generated<br>from/(absorbed|||by) operations|||16,269|(21,944)|





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|24|Analysis|ofchanges<br>in net (debt)/funds||||
|---|---|---|---|---|---|
||||At 1January|Cash flows|At 31 Decemtrer|
||||2020||2020|
||||8|||
||Cash at|bank and in hand|28,746|27,044|55,790|
||Loans falling due within one year||(24,450)|24,450||
||Loans falling due after more than one year||(2,078,503)|159|(2,078,344)|
||||(2,074,207)|51,653|(2,022,554)|