Gospel Assembly Church
Charity Commision 1107259 Company House Reg No 3309680
Report & Financial Statements
31-Dec-22
Coker Isah & Co. Chartered Certified Accountants
Gospel Assembly Church
| INDEX | |
|---|---|
| Page | |
| Charity details | 1 |
| Trustees' Reports | 2 - 3 |
| Independent Examiners Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 |
| Notes to Financial Activities | 7- 8 |
| Detail Statement of Financial Activities | 9 |
Page 1 Gospel Assembly Church
Charity Details
| MANAGEMENT COMMITTEES | MANAGEMENT COMMITTEES |
|---|---|
| Trustees | Eliah Gore |
| Aled Wyn Roderick | |
| Arthur Wanyanga | |
| Secretary | Joyce Inyang Kalu |
| Charity Commision | 1107259 |
| Company House Reg No | 3309680 |
| Registered Office | 21B Wstow Hill |
| & Place of Worship | London |
| SE19 1TQ | |
| Independent Examiner | James Coker MBA FCCA |
| Coker Isah & Co. | |
| Chartered Certified Accountants | |
| 74 Church Road | |
| Crystal Palace | |
| London SE19 2EZ | |
| Bankers | Barclays Bank |
| Leicester | |
| LE87 2BB |
Page 2 Gospel Assembly Church
Trustees' report for the year ended 31 December 2022
The trustees present their report together with the financial statements of the charity for the year ended 31December 2022. The financial statements have been prepared in accordance with the accounting policies set out on page 7 and comply with the charity's trust deed and applicable law.
Trustees
The trustees named on page 1 have served throughout the year. Appointment of trustees is governed by the Trust Deed of the charity. The Board of trustees is authorised to appoint new trustees to fill vacancies arising through resignation or death of an existing trustee.
Investments powers
The Trust Deed authorises the trustees to make and hold investments using the general funds of the charity, but no such investments are presently held.
Constitution, objects and policies
The principal activity of the organization was that of providing advancement of Christian faith
The policy of the charitable Trust continues to be to seek additional donations to continue to run the organisation
The trustees take the day responsibility for running the charity.
Development, activities and achievements
The trustees consider that the performance of the charity this year has been most satisfactory and the average number of members has increased once again this year.
Financial review
Funds available are sufficient to permit the Trust to continue in operation in the medium term, given the continued support of the members. Should this support not continue in the longer term, further financial support would need to be sought to replace it.
Risk Management
The trustees actively review the major risk which the charity faces on a regular basis and believe that maintaining reserves at current levels, combined with an annual review of the controls over key financial systems, will provide sufficient resources in the event of adverse conditions. The trustees have also examined other operational and business risks faced by the charity and confirm that they have established systems to mitigate the significant risks.
Page 3 Gospel Assembly Church
Trustees' report for the year ended 31 December 2022
Future Developments
The charity's activities has increased during the year under review .
The trustees are seeking to extend the charity's activities and are pursuing a number of activities to enable this to happen
Reserve policy
It is the policy of the charity to maintain unrestricted funds at a level which provides sufficient funds to cover management and administration and support costs. Unrestricted funds are maintained at least at this level throughout the year.
Statement of trustees' responsibilities
Law applicable to charities in England Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the charity's financial activities during the year and of its financial position at the end of the year. In preparing those financial statements, the trustees are required to:
a) Select suitable accounting policies and apply them consistently;
b) make judgments and estimates that are reasonable and prudent;
c) state whether applicable accounting standards and statements of recommended practice have been followed, subject to any departures disclosed and explained in the financial statements;
d) prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the charities Act 1993. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approval
This project was approved by the trustees on 24/05/2023 and signed on their behalf
Signed
Arthur Wanyanga Trustee
Page 4
Gospel Assembly Church
Independent Examiner's Report on the Accounts
Report the trustees and members of Gospel Assembly Church
The accounts for the year ended 31 December 2022 Set out in pages 5-8
Respective responsibilities of the trustees and examiner
As the trustees you are responsible for the preparation of the accounts, you consider that an audit
is not required under section 144 of the Charities Act 2011 and does not apply, and that
independent examination is needed
It is my responsibility to
-
examine the accounts under section 145 of the Charities Act
-
to follow the procedure paid down in the General Directions given by the Charity Commissioners under section 145(5)(b) of the Act and
-
to state whether particular matters have come to my attention
Basis of independent examiner's report
My examination was carried out in accordance with the General Directions given by the Charity Commissioners .
An examination includes a review of the accounting records kept by the charity and a comparison of the accounts
presented with those records .It also includes consideration of any unusual items or disclosures in the
accounts and , seeking explanation from you as trustees concerning any such matters. The procedures undertaken do
not provide all the evidence that would be required in an audit and consequently I do not express an audit opinion on the view given by the accounts.
Independent examiner's statement
In connection with my examination ,no matter has come to my attention
-
(1) which give me reasonable cause to believe that in any material respect the requirements
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to keep accounting records in accordance with section 130 of the Act; and
-
to prepare accounts which accord with the accounting records and to comply with the accounting of requirement of the Act
have not been met.
(2) to which, in my opinion ,attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Signed
Signed
James Coker mba fcca Dated 24 / 05 / 2023 Coker Isah & Co.
Chartered Certified Accountants 74 Church Road London SE19 2EZ
Page 5 Gospel Assembly Church Statement of Financial Activities
For the year ended 31 December 2022
| 8 Incoming resources Voluntary Sources- Donation Gift Aids Total incoming resources Resources Expended 9 Direct Charitable Expenditure: 10 Management Administration Total Resources Expended Net Income resources for the year Donation in advance bf Fund brought forward 1st Jan 2022 Fund carried forward 31st Dec 2022 |
Unrestricted Unrestricted Fund Fund 2022 2021 £ £ 54826 49008 6297 11251 61123 60259 25509 27836 1767 3854 27276 31690 33847 28569 60,374 0 94,221 28569 91042 62473 185,263 91042 |
|---|---|
There were no recognised gains or loss for the 2022 & 2021 other than included in the statement of Financial activities
Page 6 Gospel Assembly Church Balance Sheet 31-Dec-22
| FIXED ASSETS 4 CURRENT ASSETS Bank & cash CREDITORS Amounts falling due within one year Accrual & deferred income 5 Net Current Assets CREDITORS (Long term) Conditioner Grant/Donation in advance ACCUMULATED FUND Retained Surplus Brought Forward 6 Surplus for the year Retained surplus CF |
2022 £ £ 333 4 185,680 185,680 750 5 750 184,930 185,263 0 185,263 91,042 6 94,221 185,263 |
2021 £ £ 444 151,772 151,772 800 800 150,972 151,416 60,374 91,042 62,473 28,569 91,042 |
2021 £ £ 444 151,772 151,772 800 800 150,972 151,416 60,374 91,042 62,473 28,569 91,042 |
|---|---|---|---|
| 151,416 60,374 |
|||
| 91,042 | |||
| 62,473 28,569 |
|||
| 91,042 |
Approved on 24/05/2023 and signed on behalf of the Trustees Signed by
Signed Aled Wyn Roderick Trustee Member
Signed Arthur Wanyanga Trustee Member
Page 7 Gospel Assembly Church
Notes to the Financial Statements
For the year ended 31 December 2022
-
1 Accounting policies
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1.1 Accounting convention The financial statements are prepared under historical cost convention and in accordance with The Financial Reporting Standard for Smaller Entities (FRSSE) (effective Jan 2005) and statement of Recommended Practice (SORP 2005) ,and with the Charity Acts 1993
-
1.2 Incoming Resources
The Income represent the total donation and Income Tax Clamed excluding Value Added Tax , receivable during the year
1.3 Depreciation Depreciation is provided on tangible Fixed Assets at rate calculated to write off the cost less residual value of each assets over its expected useful life as follows:-
Fixture fitting and equipment 25% straight line
-
1.4 Donation Donation receivable are credited to the Statement of Financial Activities (SOFA)) in the year for the year which they are received.
-
1.5 Resources Expended
Resources Expended are included in the Statement of Financial Activities (SOFA) on an accrual basis inclusive of VAT
1.6 Unrestricted Funds
Unrestricted Funds are donations and other incoming resources received or generated for the charitable purposes
- 1.8 Restricted Funds Restricted Funds are funds received which can only be used for the specific purpose as laid out by the donor Expenditure which meets this criterion is identified to the fund, together with a fair allocation of overheads costs. During the year there are no restricted fund.
2 Income The total income of the organization for the year has been derived from its principal activity wholly undertaken in the UK
3 Operating surplus 2022 2021 Operating surplus is stated after charging £ £ Depreciation of tangible assets 111 163
Page 8 Gospel Assembly Church
Notes to the Financial Statements
For the year ended 31 December 2022
| 4 Fixed Assets Cost 01-Jan-22 Additions 31-Dec-22 Depreciation 01-Jan-22 Charge for the year 31-Dec-22 Net Book Values 31-Dec-22 31-Dec-21 5 Creditors amount falling due with one year Creditor and accrual 6 Summary of Assets by Fund Unrestricted funds Surplus bf Surplus for the year |
Fixture Fittings equipment £ 1,080 1,080 636 111 747 333 444 2,022 £ 750 750 2022 91,042 94,221 185,263 |
Total 1,080 |
|---|---|---|
| 1,080 | ||
| 636 111 |
||
| 747 | ||
| 333 | ||
| 444 | ||
| 2,021 £ 0 800 |
||
| 800 | ||
| 2021 62,473 28569 |
||
| 91,042 |
7 Trustees Remuneration
Some trustees were paid under PAYE Schemes
Page 8
Gospel Assembly Church
Notes to the Financial Statements
For the year needed 31 December 2022
| 8 | Total incoming resources | Unrestricted | Unrestricted |
|---|---|---|---|
| Fund | Fund | ||
| 2022 | 2021 | ||
| £ | £ | ||
| Voluntary Sources- Donation | 54826 | 49008 | |
| Gift Aids | 6297 | 11251 | |
| Total incoming resources | 61123 | 60259 | |
| 9 | Direct Charitable Expenditure: | ||
| Pastor House Exp | 2000 | 825 | |
| Adminstration,confrence& Social | 10901 | 12588 | |
| Donation | 1100 | 6560 | |
| Rent -Hall Hire | 9335 | 6907 | |
| Home Mission | 500 | 408 | |
| Repairs & maintenace | 904 | 265 | |
| Travelling | 769 | 283 | |
| Direct Charitable Expenditure: | 25509 | 27836 | |
| 10 | Management & administration Expenditure | ||
| Legal & professional | 740 | 2700 | |
| Accountancy | 750 | 650 | |
| Bank charges | 66 | 55 | |
| Depreciation | 111 | 163 | |
| Miscellaneeous | 100 | 286 | |
| Management & administration | 1767 | 3854 | |
| Total resources expended | 27276 | 31690 | |
| Net movement in funds for the year | 33847 | 28569 | |
| FUND BALANCES B/F | 91042 | 62473 | |
| FUND BALANCES C\F | 124889 | 91042 |