|Trustees||and Directors||Reverend A.T.B.|Reverend A.T.B.||
|---|---|---|---|---|---|---|
|||||Williams Mr. T.O.|||
|||||Adisa|||
|||||Mr.S.C.|||
|||||Ahamefula|Mr.||
|||||O. A. Bilewu|||
|Secretary||||Mr. O. A.Bilewu|||
|Registered||office and operational|address|Bethesda
Building|||
|||||56-62New|Cross||
|||||Road London|||
|||||SE145BD|||
|Bankers||||HSBC|||
|||||184High|||
|||||Street|||
|||||Bromley|||
|||||Kent|||
|||||BR1|||
|||||1HE|||
|Accountants||||Sterlings Accountancy||Solutions|
|||||Limited Unit 5 Woodbrook Crescent|||
|||||Billeric|||
|||||ay|||
|||||Essex|||
|||||CM12|||
|||||OEQ|||
|Auditors||||Beavis Morgan Audit||Limited|
|||||82StJohn|Street||
|||||London|||
|||||EC1M4JN|||
|Solicitors||||Wellers|||
|||||Tenison House|||
|||||Tweedy Road|||
|||||Bromley|||
|||||Kent|||
|||||BR1|||
|||||3NF|||
|Charity|number|||1105674|||
|Company||number||05144212|||
|Charity|website|||www. cftchurches. org|||
##
|Pages|1 —5|Trustees'
Report||
|---|---|---|---|
||6 —8|Independent
Auditors'|Report|
|||Statement ofFinancial|Activities|
||10|Balance Sheet||
|||Statement ofCash Flows||
||12-22|Notes to the Financial|Statements|
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||||||Year ended 30|June 2022|Year ended 30June 2021|
|---|---|---|---|---|---|---|---|
||||||Unrestricted|Total|Total|
|||||Notes|Funds|Funds|Funds|
|Income||||||||
|Income from:||||||||
|Donations|||||1,706,088|1,706,088|1,514,064|
|Gift Aid on donations|||||294,697|294,697|286,724|
|Charitable
activities|||||49,592|49,592|47,255|
|Total income|||||2,050,377|2,050,377|1,848,043|
|Expenditure
on:||||||||
|Charitable
activities|||||974,996|974,996|855,018|
|Finance
costs,|interest|payable|and|||||
|other charges|||||106,923|106,923|105,070|
|Governance
costs|||||11,301|11,301|12,760|
|Total expenditure|||||1,093,220|1,093,220|972,848|
|Net income|||||957,157|957,157|875,195|
|Total funds brought forward|||||7,420,790|7,420,790|6,545,595|
|Total funds carried forward||||10|8,377,947|8,377,947|7,420,790|
##
||Notes|2022|2021|
|---|---|---|---|
|Fixed assets||||
|Tangible fixed assets||8,178,693|7,720,258|
|Current
assets||||
|Debtors||223,031|193,482|
|Cash at bank and in hand||2,990,593|2,601,970|
|Creditors
due within one year||(283,585)|(226,075)|
|Net current assets||2,930,039|2,569,377|
|Total assets less current liabilities||11,108,732|10,289,635|
|Creditors
due after one year||(2,730,785)|(2,868,845)|
|Net assets||8,377,947|7,420,790|
|Income funds||||
|Unrestricted
Funds|10|8,377,947|7,420,790|
##
|||Notes|2022||2021||
|---|---|---|---|---|---|---|
|Cash flows from operating|activities||||||
|Cash generated
from operations||15||1,413,477||1,252,579|
|Investing
activities|||||||
|Purchase oftangible
assets|||(773,147)||(136,596)||
|Net cash used in investing|activities|||(773,147)||(136,596)|
|Financing
activities|||||||
|Repayment ofborrowings|||(149,425)||(155,902)||
|Interest paid|||(102,282)||(101,594)||
|Net cash used in financing|activities|||(251,707)||(257,496)|
|Net increase in cash and|cash equivalents|||388,623||141,079|
|Cash and cash equivalents|at|beginning ofyear||2,601,970||1,743,483|
|Cash and cash equivalents||at end ofyear||2,990,593||2,601,970|
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|2.|Voluntary
income|2022|2021|
|---|---|---|---|
||Donations|1,706,088|1,514,064|
|3.|Other income|2022|2021|
||Rent received|49,533|46,666|
||Online
advertising|59|589|
|||49,592|47,255|
||Net incoming resources|for the year|for the year|||2022|2021|
|---|---|---|---|---|---|---|---|
||This is stated after charging:|||||||
||Depreciation|||||314,712|259,338|
||Directors'
remuneration|(see note 5)||||114,432|113,608|
||Auditors'
remuneration|—audit||||8,100|9,600|
||Auditors'
remuneration|—non audit||||2,586|2,568|
|5.|Analysis oftotal resources expended|||||||
|||||||2022|2021|
|||||||Total|Total|
||Staffcosts||Time|215,705||215,705|220,723|
||Church running
expenses,|||||||
||maintenance
&repairs||Usage|211,296|3,201|214,497|180,689|
||Evangelism,
honorarium|||||||
||&donations||Direct|82,300||82,300|136,024|
||Sundry
office costs||Usage|66,341||66,341|19,716|
||Travel &motor expenses||Usage|53,190||53,190|14,234|
||Audit fees||Direct||8,100|8,100|9,600|
||Professional
fees||Usage|32,399||32,399|27,454|
||Bank charges &finance|costs|Usage|3,694||3,694|3,476|
||Loan &HP interest||Usage|102,282||102,282|101,594|
||Depreciation||Usage|314,712||314,712|259,338|
|||||K1,081,919|$11,301|K1,093,220|f972,848|
||Staffcosts:|||||2022|2021|
|||||||f.||
||Minister in charge|||||83,232|82,408|
||Housing
allowance|||||31,200|31,200|
||Wages and salaries|||||84,180|89,619|
||Social security costs|||||13,900|14,253|
||Pension
costs|||||3,193|3,243|
|||||||215,705|220,723|
##
##
##
|angible
fixed assets|||||
|---|---|---|---|---|
||Freehold
Property|Computers
~
fixtures
&
equipment|Motor
Vehicles|Total|
|Cost:|||||
|At 1 July 2021|9,250,896|993,979|156,394|10,401,269|
|Additions|714,282|57,665|1,200|773,147|
|At 30June 2022|9,965,178|1,051,644|157,594|11,174,416|
|Depreciation:|||||
|At 1 July 2021|1,757,833|772,544|150,634|2,681,011|
|Charge for the year|247,763|60,949|6,000|314,712|
|At 30June 2022|2,005,596|833,493|156,634|2,995,723|
|Net book value:|||||
|At 30June 2022|7,959,582|218,151|960|8,178,693|
|At 30June 2021|7,493,063|221,435|5,760|7,720,258|
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##
||Notes|to the accounts for the year ended 30|June 2022 (continued)||
|---|---|---|---|---|
||Debtors||2022|2021|
||Prepayments|and accrued income|76,801|41,788|
||Gift Aid recoverable||142,05 L|141,295|
||Other debtors||4,17l|10,399|
||||223,031|193,482|
|8.|Creditors due|within one year|2022|2021|
||Bank loans (note 9)||143,571|154,936|
||Trade creditors||109,392|47,345|
||Taxation and|social security|4,321|6,043|
||Other creditors||11,083|2,043|
||Accruals
and|deferred income|15,218|15,708|
||||283,585|226,075|
|9.|Creditors due|in more than one year|2022|2021|
||Bank loans||2,730,785|2,868,845|
||||2,730,785|2,868,845|
##
##
##
##
||||2022|2021|
|---|---|---|---|---|
|Analysis ofloans|||||
|Bank loans|||2,874,356|3,023,781|
|Bank loans due within one year|||(143,571)|(154,936)|
|Bank loans due after more than one year|||2,730,785|2,868,845|
|Loan maturity
analysis|||||
|Balance due between one and two years|||149,656|159,998|
|Balance due between two and five years|||491,243|511,839|
|Balance due more than five years|||2,089,886|2,197,008|
|Statement offunds|||||
||Total
Funds
2021|Incoming
Resources|Outgoing
Resources|Total
Funds
2021|
|Unrestricted
funds:|||||
|General
funds|17,420,790|K2,050,377|K1,093,220|K8,377,947|
|||General
Funds|Total
Funds
2022|Total
Funds
2021|
|Represented
by:|||||
|Tangible
fixed assets||8,178,693|8,178,693|7,720,258|
|Net current assets/(liabilities)||2,930,039|2,930,039|2,569,377|
|Long term liabilities||(2,730,785)|(2,730,785)|(2,868,845)|
|||K8,377,947|K8,377,947|K7,420,790|
##
##
|Carrying
amount|of financial|assets (excluding|assets (excluding|cash)|2022|2021|
|---|---|---|---|---|---|---|
|Debt instruments|measured
at|amortised|cost||||
|Carrying
amount|of financial|liabilities|||2022|2021|
|Debt instruments|measured
at|amortised|cost||3,010,049|3,088,877|
||||||3,012,508|3,088,877|
##
##
##
##
|||||||2022|2021|
|---|---|---|---|---|---|---|---|
|Surplus for|the year|||||957,157|875,195|
|Adjustments|for|||||||
|Interest paid||||||102,282|101,594|
|Depreciation|and impairment|||oftangible|fixed assets|314,712|259,338|
|Movements|in working||capital|||||
|(Increase)/decrease||in debtors||||(29,549)|(18,798)|
|Increasel(decrease)||in creditors||||68,875|35,250|
|||||||1,413,477|1,252,579|