2021-06-30-accounts - Christ Faith Tabernacle International

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		Notes	2021	2020
			8	8
Fixed assets
Tangible fixed assets			7,720,258	7,843,000
Current assets
Debtors			193,482	174,684
Cash at bank	and in hand		2,601,970	1,743,483
Creditors due vvithtn one year			(226,075)	(201,022)
Net current	assets		2,569,377	1,717,145
Total assets	less current liabilities		10,289,635	9,560,145
Creditors due after one year			(2,868,845)	(3,014,550)
Net assets			7,420,790	6,545,595
Income funds
Unrestricted	Funds	10	7,420,790	6,545,595

			Notes	2021		2020
Cash flows from operating	activities
Cash generated from operations			15		1,252,579		781,485
Investing activities
Purchase oftangible assets				(136,596)		(374,393)
Net cash used in investing	activities				(136,596)		(374,393)
Financing activities
Repayment ofborrowings				(155,902)		(136,477)
Interest paid				(101,594)		(129,536)
Net cash used in flaancing	activities				(257,496)		(266,013)
Net increase in cash and	cash equivalents				858,487		141,079
Cash and cash equivalents	at	beginning	ofyear		1,743,483		1,602,404
Cash and cash equivalents		at end of	year		2,601,970		1,743,483

Financial liabilities are d discharged or cancelled.	erecogmsed when the Fund's co	ntractual obligation expires or	are
Voluntary income		2021	2020
		g	g
Donations		1,514,064	1,373,175
Other income		2021	2020
		X	g
Rent received		46,666	32,800
Online advertising		589
		47,255	32,800
Net incoming resources	for the year	2021	2020
		g
This is stated after charging:
Depreciation		259,338	257,217
Directors' remuneration	(see note 5)	113,608	111,200
Auditors' remuneration	—audit	9,600	9,420
Auditors' remuneration	—non audit	2,568	6,643

nalysis oftotal resources expe	nded
			E
				s	2021	2020
			r9	o	Total	Total
Staffcosts	Time	220,723			220,723	215,003
Church running expenses,
maintenance &repairs	Usage	177,529		3,160	180,689	239,980
Evangelism, honorarium
&donations	Direct	136,024			136,024	220,242
Sundry office costs	Usage	19,716			19,716	56,579
Travel &motor expenses	Usage	14,234			14,234	70,326
Audit fees	Direct			9,600	9,600	9,420
Professional fees	Usage	27,454			27,454	32,743
Bank charges &finance costs	Usage	3,476			3,476	2,367
Loan &,HP interest	Usage	101,594			101,594	129,536
Depreciation	Usage	259,338			259,338	257,217
		K960,088	K(2,760		8972,848	EL233,413
Staffcosts:					2021	2020
					g	8
Minister in charge					82,408	80,000
Housing allowance					31,200	31,200
Wages and salaries					89,619	87,590
Social security costs					14,253	13,069
Pension costs					3,243	3,144
					220,723	215,003

	The average number ofemployees,	auslysed by function, w	ss;
				2021	2020
				No.	No.
	Church			1	1
	Administration			4	4
				5	5
6.	Tangible lixed assets
		Freehold Properly	Computers, ftstures & equtpmeut	Motor Vehicles	Total
	Cost:	g
	At 1 July 2020	9,222,655	885,624	156,394	10,264,673
	Additions	28,241	108,355		136,596
	At 30June 2021	9,250,896	993,979	156,934	10,401,269
	Depreciation:
	At 1July 2020	1,560,437	716,362	144,874	2,421,673
	Charge for the year	197,396	56,182	5,760	259,338
	At 30June 2021	1,757,833	772,544	150,634	2,681,011
	Net book value:
	At 30June 2021	7,493,063	221,435	5,760	7,720,258
	At 30June 2020	7,662,218	169,262	11,520	7,843,000

Notes to the accounts for the year ended 30	June 2021 (co	ntinued)
Creditors due in more than one year (continued)
Analysis ofloans		2021	2020
			g
Bank loans		3,023,781	3,179,683
Bank loans due within one year		(154,936)	(165,133)
Bank loans due after more than one year		2,868,845	3,014,550
Loan maturity analysis
Balance due between one and two years		159,998	170,651
Balance due between two and five years		511,839	546,374
Balance due more than five years		2,197,008	2,297,525
Statement offunds
Total Funds 2020	Incomhig Resources	Outgoing Resources	Total Funds 2021
Unrestricted funds:
General funds f6,545,595	81,848,043	f972,848	Z7,420,790
	General Funds	Total Funds 2021	Total Funds 2020
Represented by:
Tangible fixed assets	7,720,258	7,720,258	7,843,000
Net current assets/(liabilities)	2,569,377	2,569,377	1,717,145
Long term liabilities	(2,868,845)	(2,868,845)	(3,014,550)
	F7,420,790	f7,420,790	f6,545,595

ancial instrument	s	s
Carrying amount	offinancial assets (excluding cash)		2021	2020
				K
Debt instruments	measured	at amortised cost
Carrying amount	offinancial liabilities		2021	2020
Debt instruments	measured	at amoitised cost	3,088,877	3,211,390
			3,088,877	3,211,390

	Notes	to the	accounts for the year ended 30June 2	accounts for the year ended 30June 2	021(continued)
15.	Cash generated	from	operations
					2021	2020
	Surplus for the year				875,195	429,236
	Adjustments	for
	Interest paid				101,594	129,536
	Depreciation	urd impairment		oftangible fixed assets	259,338	257,217
	Movements	in svorklng capital
	(Increase)/decrease		in debtors		(18,798)	17,164
	Increase/(decrease)		in creditors		35,250	(51,668)
					1,252,579	781,485