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|||Page|
|---|---|---|
|Legal and Administrative|Information||
|Trustees'
Report||3to 7|
|Independent
Examiner's|Report||
|Statement of Financial Activities|||
|Balance Sheet||10|
|Statement ofCash Flows|||
|Notes to the Financial Statements||12to 17|
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|Constitution|Constitution|Constitution||Harvest
Church|London|London|is a company|is a company|is a company|limited|by guarantee|and|has no share|has no share|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|||||capital. The liability||of|each|member||in the event of winding-up|||is limited|to|
|||||F10.|||||||||||
|||||The company
is|a registered|||charity|governed||by its Memorandum||and Articles||
|||||of Association
which||establishes|||the|objects and
powers||of|the charitable||
|||||company|||||||||||
|Trustees||||Paul Naughton
(Director)|||||||||||
|||||Temi Ewuosho
(Director)|||||||||||
|||||Tim Collins (Director)|||||||||||
|||||Nana Anaman
(Director)|||||||||||
|||||Ibironke Jegede|(Secretary)|||resigned||1 June|2021||||
|||||Roseline Osam-Duodu|||(Secretary)||appointed||3June 2021||||
|Company||Number||05131178|||||||||||
|Charity|Number|||1104220|||||||||||
|Registered|||Office|Leadership
Training||Centre|||||||||
|||||40-43 North
End|Road||||||||||
|||||Wembley|||||||||||
|||||Middlesex|||||||||||
|||||HA9 OAT|||||||||||
|Principal||Office||Leadership
Training||Centre|||||||||
|||||40-43 North
End|Road||||||||||
|||||Wembley|||||||||||
|||||Middlesex|||||||||||
|||||HA9 OAT|||||||||||
|Independent|||Examiner|Neil Heyes FCA|||||||||||
|||||Rayner Essex LLP|||||||||||
|||||Faulkner
House|||||||||||
|||||Victoria Street|||||||||||
|||||StAlbans|||||||||||
|||||Herts AL1 3SE|||||||||||
|Solicitors||||Wellers Law Group|||||||||||
|||||65 Leadenhall
Street|||||||||||
|||||London|||||||||||
|||||EC3A 2AD|||||||||||
|Bankers||||HSBC|||||||||||
|||||133Regent Street|||||||||||
|||||London|||||||||||
|||||W1B4HX|||||||||||
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||||||2021|2020|
|---|---|---|---|---|---|---|
||||Unrestricted|Restricted|Total|Total|
||||Funds|Funds|Funds|Funds|
|||Notes|8|8||8|
|Incoming
resources:|||||||
|Tithes &offerings|||424,014||424,014|461,676|
|Rental Income||||||3,965|
|Bookshop sales|||1,809||1,809|1,303|
|Cafe Sales|||2,853||2,853|2,516|
|Gift Aid|||134,767||134,767|52,252|
|Investment
Income|||192||192|91|
|Sundry
Income|||1,040||1,040|2,514|
|Government
grant||||||7,090|
|Total incoming
resources|||564,675||564,675|531,407|
|Resources expended|||||||
|Costs ofgenerating|funds||157,925||157,925|172,234|
|Charitable
activities|||232,553||232,553|242,748|
|Total resources expended|||390,478||390,478|414,982|
|Net incoming
resources before|||||||
|other recognised|gains and losses||174,197||174,197|116,425|
|Other recognised|Gains and Losses||||||
|Net movement
in|funds||174,197||174,197|116,425|
|Reconciliation
of|funds||||||
|Fund Balances Brought Forward||10|1,510,148||1,510,148|1,393,723|
|Transfers
between|funds|10|||||
|Fund balances carried forward||10|1,684,345||1,684,345|1,510,148|
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||||Notes|2021||2020||
|---|---|---|---|---|---|---|---|
|||||6||F||
|Fixed Assets||||||||
|Tangible assets|||||1,610,208||1,597,674|
|Current Assets||||||||
|Stock||||10,616||10,975||
|Investment||||26,000||21,000||
|Debtors||||||17,596||
|Cash at bank and|in hand|||171,092||113,169||
|Total Current Assets||||207,708||162,740||
|Creditors: Amounts||Falling Due||||||
|within
One Year||||(133,571)||(44,640)||
|Net Current Assets|||||74,137||118,100|
|Total Assets Less Current|||||1,684,345||1,715,774|
|Liabilities||||||||
|Long Term Liabilities|||||||(205,626)|
||||||1,684,345||1,510,148|
|The Funds ofthe|Charity|||||||
|Reserves|||10||1,684,345||1,510,148|
|Total Funds|||||1,684,345||1,510,148|
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|||||2021f|2020
F|
|---|---|---|---|---|---|
|Cash flows from operating
activities||||||
|Net income (expenditure)
for the year||||174,197|116,425|
|Adjustments
for:||||||
|Depreciation||||16,423|10,139|
|Loss of disposal offixed assets||||||
|Investment
income||||(192)|(91)|
|(Increase)/reduction
in stock||||359|(1,832)|
|(Increase)/reduction
in debtors||||17.596|(17,596)|
|Increase/(reduction)
in creditors||||(116,695)|(164,633)|
|Net cash provided/
(used)|in operating|activities||91,688|(57,588)|
|Cash flows from investing|activities|||||
|Purchase
oftangible
fixed assets||||(28,957)|(22,154)|
|Sale oftangible
fixed assets||||||
|Purchase
of investments||||(5,000)|(6,000)|
|Investment
income||||192|91|
|Net cash (used in) investing
activities||||(33,765)|(28,063)|
|Net increase
/ (decrease)
in
equivalents|cash and cash|||57,923|(85,651)|
|Cash and cash equivalents
year|at the beginning||ofthe|113,169|198,820|
|Cash and cash equivalents|at the end ofthe||year|171,092|113,169|
|Cash and cash equivalents|is made
up ofthe|||||
|following:||||||
|Cash at bank and
in hand||||171,092|113,169|
|Total||||171,092|113,169|
|The notes on pages 12to 17|form part ofthese financial statements.|||||
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|Total re|sources|expended|||||
|---|---|---|---|---|---|---|
||||Costs of||2021|2020|
||||~Generatin|Charitable|Total|Total|
||||Funds|Activities|funds|Funds|
|Costs directly allocated to||activities|||||
|Staff Salaries (inc|pension)|||150,334|150,334|144,226|
|Support to Other Ministries||||41,227|41,227|44,507|
|Conference costs||||650|650|11,935|
|Books etc.||||1,992|1,992|431|
|Cafe Purchases||||5,313|5,313|2,466|
|Foodstuffs
for events||||4,318|4,318|977|
|Pastoral care||||19,131|19,131|28,800|
|Travels
Hotels||||2,708|2,708|4,494|
|PR (Literature
8 Brochures)|||6,328||6,328|1,142|
|Subscriptions||||2,128|2,128|2,230|
||||6,328|227,801|234,129|241,208|
|Support Costs allocated to||activities|||||
|Telephone||||3,845|3,845|2,243|
|Office Stationery||||907|907|439|
|Light and Heat|||11,002||11,002|13,202|
|Premises
Running|Expenses||14,093||14,093|14,474|
|Repairs and Renewals|||33,293||33,293|48,732|
|Office Expenses|||2,949||2,949|1,787|
|Bank Charges|||2,264||2,264|1,633|
|Loan Interest Paid|||3,345||3,345|5,889|
|Equipment
8 accessories|||4,623||4,623|5,537|
|Insurance|||2,791||2,791|2,637|
|Miscellaneous|||||||
|Depreciation|||16,423||16,423|10,139|
|Examination
8.accountancy||fees|6,942||6,942|3,870|
|Professional
fees|||53,872||53,872|63,192|
||||157,925|232,553|390,478|414,982|
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|Net Movement|ln Funds|||||
|---|---|---|---|---|---|
|The movement|offunds|is stated after charging|or (crediting):|||
|||||2021|2020|
|Depreciation|ofowned|assets||16,423|10,139|
|Independent|Examiner's|remuneration||3,870|3,870|
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||||2021|2020|
|---|---|---|---|---|
|||||6|
|Wages and|salaries||135,213|128,658|
|Employers'|national|insurance|9,763|10,254|
|Employers'|pension|costs|5,358|5,314|
||||150,334|144,226|
|he year w|as as follow|
|---|---|
|2021|2020|
|Number|Number|
|Direct charitable|activities|
|---|---|
|Management
and|administration|
|7.|Tangible Fixed Assets|Tangible Fixed Assets|Freehold|Freehold|Fixtures|Fixtures|&|Office|Total|
|---|---|---|---|---|---|---|---|---|---|
||||property||Fittings|||Equipment||
||Cost|||||||||
||At 1"January
2021||1,567,255|||32,908||105,234|1,705,397|
||Additions|||||||28,957|28,957|
||At 31"December 2021||1,567,255|||32,908||134,191|1,734,354|
||Depreciation
At 1"January
2021|||||30,567||77,156|107,723|
||Charge for the year|||||780||15,643|16,423|
||As at 31 December 2021|||||31,347||92,799|124,146|
||Net Book Value|||||||||
||At 31 December 2021||1,567,255|||1,561||41,392|1,610,208|
||At 31 December 2020||1,567,255|||2,341||28,078|1,597,674|
|The|open market value ofthe property|||is believed|by|the directors to be between|||F5m and f7m|
|8.|Debtors|||||||2021|2020|
|||||||||E||
||Other debtors||||||||17,596|
||||||||||17,596|
|9.|Creditors: Amounts|Falling within one year||||||||
|||||||||2021|2020|
|||||||||6|F|
||Accruals|||||||3,720|3,720|
||Short term loans|||||||125,369|40,920|
||Other creditors|||||||4,482||
|||||||||133,571|44,640|
|10|Creditors: Amounts|falling due||after more|than one|||||
||year|||||||2021|2020|
|||||||||E|E|
||Interest free loan|||||||||
||Bank loan||||||||205,626|
||||||||||205,626|
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||Total re|sources ex|pended||||
|---|---|---|---|---|---|---|
||||Costs of||2020|2019|
||||~Generatin|Charitable|Total|Total|
||||Funds|Activities|funds|Funds|
|Costs directly allocated to||activities|||||
|Staff Salaries (inc|pension)|||144,226|144,226|133,943|
|Support to Other Ministries||||44,507|44,507|97,704|
|Conference costs||||11,935|11,935|18,015|
|Books etc.||||431|431|2,123|
|Cafe Purchases||||2,466|2,466|3,765|
|Foodstuffs for events||||977|977|3,163|
|Pastoral care||||28,800|28,800|21,418|
|Travel 8 Hotels||||4,494|4,494|36,878|
|PR (Literature 8 Brochures)|||1,142||1,142|6,394|
|Subscriptions||||2,230|2,230|454|
||||1,142|240,066|241,208|323,857|
|Support Costs allocated to||activities|||||
|Telephone||||2,243|2,243|3,044|
|Office Stationery||||439|439|2,001|
|Light and Heat|||13,202||13,202|8,805|
|Premises
Running|Expenses||14,474||14,474|17,406|
|Repairs and Renewals|||48,732||48,732|21,001|
|Office Expenses|||1,787||1,787|1,540|
|Bank Charges|||1,633||1,633|8,128|
|Loan Interest Paid|||5,889||5,889|10,406|
|Equipment
8 accessories|||5,537||5,537|1,499|
|Insurance|||2,637||2,637|2,510|
|Miscellaneous||||||865|
|Depreciation|||10,139||10,139|6,136|
|Examination
8 accountancy||fees|3,870||3,870|3,840|
|Professional fees|||63,192||63,192|62,581|
||||172,234|242,748|414,982|473,619|