WINNERS KINGDOM INTERNATIONAL CHRISTIAN CENTRE
REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021
Charity Number: 1109678
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WINNERS KINGDOM INTERNATIONAL CHRISTIAN CENTRE
REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021
| CONTENT | . | ||
|---|---|---|---|
| Page | |||
| Statutory Information | 1 | ||
| Report ofthe Trustees | 2 | ||
| Report of the Accountants | 3-4 | ||
| Statement of Financial Activities | 5 | ||
| Balance Sheet | 6 | ||
| Notes to the accounts | 7-10 | ||
| _ | |||
| This does not form part ofthe statutory accounts | |||
| IncomeandExpenditureAccount | 11 |
Charity Number: 1109678
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WINNERS KINGDOM INTERNATIONAL CHRISTIAN CENTRE
REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021
STATUTORY INFORMATION
Principal Address:
Registered Number:
Accountants:
Bankers:
The Land of Grace 657 Green Lanes Haringey London N8 OQY
1109678
Alani Idowu & Co 51 Beechwood Road Oldham OL8 2NJ
HSBC Bank 160 Clapton Common Stampford Hill London E5 9AH
”
Clydesdale Bank 35 Regent Street London SW1Y 4ND
;
1
Charity Number: 1109678
WINNERS KINGDOM INTERNATIONAL CHRISTIAN CENTRE
REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2021
i
REPORT OF THE TRUSTEES
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Trustees
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Omodele Olawanle(Chairman) Bimbo Olawanle Olabtsi Oladimeji (Secretary) Majek Kuyoro
Trustees' Responsibilities In Relation to the Financlal Statements
Law applicable to charities In England and 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:
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sefect suitable accounting policies and then apply them consistently;
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make judgements and estimates that are reasonable and prudent;
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state wether applicable accounting standards and statements of recommended practice have been followed subject to any departure disclosed and explained In the financial statements; and
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4, prepare the financial statements on the going concern basis unless It is inappropriate to presume that the charity will continue in business.
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 thet 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 detention of fraud and other {rregularities.
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Omodele Olawanle
Chairman
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Dated: 11th April 2022
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Charity Number: 11098678
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WINNERS KINGDOM INTERNATIONAL CHRISTIAN CENTRE
REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2021
entre
INDEPENDENT ACCOUNTANTS REPORT
We have prepared the financial statements of Winners Kingdom International Christaln Centre for the perlod ended 31 July 2016 which comprise the Statement of Financial Activitles, Balance Sheet and the related notes set out on pages 7 to 9. These financial statements have been prepared uunder the historic cost convention and the accounting policies set out on page 7.
This report is made solely for the trustees In accordance with Section 44 Charities Act 1993. Our accounting work has been undertaken so that we might state to the Trustees those matters we are required to state to them in our accountants’ report and for no other purposes. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Trustees of the Association, for our accounting work, for this report, or for the olpnion we have formed.
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Respective Responslbilities of Trustees and Accountants
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The trustees’ responsibllities for preparing the Trustees' Annual Report and the financial statements In accordance with applicable law and United KIngdom Accounting Standards are set out In the Statement of Trustees’ Responsibilities on page 2.
Our responsibilies is to prepare the financial statements in accordance with relevant legal and regulatory requirements and United Kingdom Accounting Standards.
We report to the trustees our opion whether the financial statements give a true and fair view and are prepared in accordance with the Charities Act 1993, We also report to you if, in our opinion, the Trustees’ Annual Report is not consistent with the financial statements, if the charity has not kept proper accounting records, or if we have not received all the information and explanations we require for the preparation of the financlal statements.
We read the Information contalned in the Trustees' Annual Report and consider whether it is consistent with the financial statements. We consider the implication for our report if we become aware of any apparent misstatements or material inconsistencies with the financial statements. Our responsibilities do not extend to any other information. ,
Basis of opinion
We have prepared the financlal statements with the United Kingdon Accounting Standards Issued by the Accounting Standards Board. The preparation Include examInatlon, on a test basis, of evidence relevant to the amounts and disclosures in the flnanclal statements. It also Includes an assessment of the significant estlmates and judgements made by the trustees in the preparation of the financial statements, and of whether the accounting policies are appropriate to the charity's circumstances, consistently applled and adequately disclosed.
3
Charity Number: 1109678
WINNERS KINGDOM INTERNATIONAL CHRISTIAN CENTRE
REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2021
INDEPENDENT ACCOUNTANTS REPORT
Basis of opinion (continued)
We planned and performed our preparation so as to obtaln all Information and explanations which we consldered necessary In order to provide us wlth sufficient evidence to give reasonable assurance as to whether the financial statements are free from material misstatement, whether caused by fraud or other trregularity or error. In forming our opinion, we also evaluate the overall adequacy of the presentation of Informatlon in the financial statements,
Unqualified opinion
In our opinion, the financial statements give a true and fair view of the state of affairs of the charity as at 31 July, 2021 and of its incoming resources and appilcation of resources for the period then ended and have been properly prepared in accordance with the Charitues Act 1993,
Alani Idowu & Co 51 Beechwood Road Oldham OL8 2NJ
Dated: 11 April 2022
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Charity Number: 1109678
:
WINNERS KINGDOM INTERNATIONAL CHRISTIAN CENTRE
REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021
a
STATEMENT OF FINANCIAL ACTIVITIES
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||||||||||
|---|---|---|---|---|---|---|---|---|
|Unrestricted|Unrestricted|
|Funds|Funds|
|2021|2020|
|Note|£|£|
|Incoming|Resources|
|Activities|in|furtherance|
|of the|charity's|objects|2|130,612|189,459|
|Investment|Income|3|-|-|
|Total|Incoming|Resources|130,612|189,459|
|Resources|Expended|
|Cost|of generating|funds|4|45,615|76,947|
|Management|and|Administration|5|53,566|76,607|
|Total|Resources|Expended|99,181|153,554|
|Net|incoming|resources|before|
|other|recognised|gains|and|losses|31,431|35,905|
|Other|recognised|gains|and|losses|-|-|
|Net|movement|In|funds|for|the|year|31,431|35,905|
|Balance|Brought|Forward|77,218|41,313|
|Total|funds as|at 31|July|2021|108,649|77,218|
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All activities relate to continuing operations.
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Charity Number: 1109678
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WINNERS KINGDOM INTERNATIONAL CHRISTIAN CENTRE
REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2021
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
1. Principal Accountlong Policies
a. Accounting Convention
- The financial statements are prepared under the historic cost convention. In preparing the financial statements, the charity follows the best practice as laid down in the Statement of Recommended Practice "Accounting and Reporting by Charities" (SORP 2000) Issued in October 2000.
To comply fully with The Statement of Recommended Practice, would require , investments to be accounted for at valuation. The trustees are of the opinion that since the investments are held for the long term, it would be inappropriate to account for unrealised gains and losses for the period. Therefore Investments have been accounted for at historical cost. This Is the only exception to compliance with The Statement of Recommended Practice. The market value of the investments is disclosed.
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b. Income from members is credited to the Income in the year in which It Is receivable by the Association. All other income Is credited to income In the year in which It Is received on a cash basis.
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c. Donations to other charities are charged in the year when the offer is conveyed to the recipients except In those cases where the offer is conditioning, such as donatlons or grants belng recognised as expenditure when the conditions attached are fulfilled.
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d. Unrestricted funds are genera! funds which are available for use at the discrection of the trustees in furtherance of the general objectives of the Assoclatlon and which have not been designated for other purposes.
e. Tangible Fixed Assets
- The tangible assets are stated at cost less depreciation. The general policy Is to provide depreciation on fixed assets on a reducing balance method over their estimated useful Ilves. No depreciation is charged in the year in which the assets are sold or scrapped.
Tangible fixed assets are depreciated at rates appropriate to the assets concerned.
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Freeghold Property 0%
Improvements to Property 25%
Equipments 25%
Furniture and Fixtures 20%
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Charity Number: 1109678
WINNERS KINGDOM INTERNATIONAL CHRISTIAN CENTRE
REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2021
pe
NOTES FORMING PART OF THE FINANCIAL STATEMENTS (continued)
2. Incoming Resources -
| 2. | Incoming Resources - | |||
|---|---|---|---|---|
| Activities in furtherance of charity's objects | 2021 | 2020 | ||
| £ | £ | |||
| Tithes and Offerings | 72,809 | 110,037 | ||
| Bullding Fund | 7,174 | 22,625 | ||
| 79,983 | 132,662 | |||
| Gift Aid | 50,629 | 56,797 | ||
| : | 130,612 | 189,459 | ||
| 3. | Investment Income | |||
| 2021 | 2020 | |||
| £ | £ | |||
| Interest recelved on bank deposit account | - | - | ||
| __—$—<—<—————————— | Eo | |||
| 4. | Cost of Generating Incoming Resources | 2021 | 2020 | |
| £ | E | |||
| Outreach events | 2,500 | 16,795 | ||
| Publicity and Radio Ministry | 16,880 | 26,412 | ||
| Love offerings | 12,736 | 14,125 | ||
| Donations to other charities | 13,499 | 19,615 | ||
| 45,615 | 76,947 | |||
| 5. | Managementand Administration | |||
| 2021 | 2020 | |||
| £ | £ | |||
| Rent and Service charges | 1,035 | 1,035 | ||
| Professional and Consultancy Fees | 450 | 5,135 | ||
| Tralning and Educational Resources | - | 2,065 | ||
| Travelling and Accomodation | 2,000 | 9,259 | ||
| Postage and Statlonery | 1,841 | 1,595 | ||
| Telephone, Fax and Internet Building Maintenance and Repairs |
847 17,765 |
728 12,288 |
||
| Insurance | 1,711 | 1,711 | ||
| Utilities Honourarium Miscellaneous Accountancy and Bookkeeping Fees |
5,655 2,003 878 2,240 |
5,582 10,124 408 4,219 |
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| Bank charges | 1,080 | 1,181 | ||
| Depreclatlon charged | 16,061 | 21,277 | ||
| Transfer to Restricted Fund | - | - | ||
| 53,566 | 76,607 |
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Charity Number: 1109678
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WINNERS KINGDOM INTERNATIONAL CHRISTIAN CENTRE
REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021
NOTES FORMING PART OF THE FINANCIAL STATEMENTS (continued)
6. Tangible Fixed Assets
| 6. Tangible Fixed Assets | ||||||
|---|---|---|---|---|---|---|
| Freehokl | Furniture | |||||
| Property | Equipment | & Fixtures | Total | |||
| Cost | ||||||
| Brought Forward | 1,018,790 | 136,539 | 56,914 | 1,212,243 | ||
| Additions | - | - | . | . | ||
| Carried forward | 1,018,790 | 136,539 | 56,914 | 1,212,243 | ||
| ' | ||||||
| Depreciation | ||||||
| Brought Forward | - | 80,116 | 47,036 | 127,152 | ||
| Provided during the year | - | 14,106 | 1,976 | 16,081 | ||
| Carrled forward | - | 94,222 | 49,012 | 143,233 | ||
| Net Book Vale | ||||||
| At 31 July 2021 | 1,018,790 | 42,317 | 7,902 | 1,069,010 | ||
| At 31 July 2020 | 1,018,790 | _56,423 | 9,878 | 1,085,091 | ||
| 7. Receivable | ||||||
| Amount falling due within 1 year | 2021 | 2020 | ||||
| E | £ | |||||
| Gift Aid Receivable | ||||||
| Sundry Debtors | ||||||
| Prepayments | - | - | ||||
| 8. Payables | ||||||
| Amount falling due within 1 year | 2021 | 2020 | ||||
| £ | £ | |||||
| Mortgage Loan | - | - | ||||
| Interest accrued on Mortgage | - | - | ||||
| Sundry Creditors | - | - | ||||
| Accrued Charges | - | - | ||||
| 9. Creditors | ||||||
| Amount falling due after more | than 1 | year | 2021 | 2020 | ||
| £ | £ | |||||
| Mortgage/OtherLoan | - | - |
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Charity Number: 1109678
REPORT AND FINANCIAL STATEMENTS
WINNERS KINGDOM INTERNATIONAL CHRISTIAN CENTRE
FOR THE YEAR ENDED 31 JULY 2021
NOTES FORMING PART OF THE FINANCIAL STATEMENTS (continued)
| 10, General Funds | ||
|---|---|---|
| 2021 | 2020 | |
| £ | £ | |
| Balance Brought Forward | $0,175 | 54,270 |
| Net movement In Funds for the year | 31,431 | 35,905 |
| Balance Carried Forward | 121,606 | 90,175 |
| 11. Restricted Funds | ||
| 2021 | 2020 | |
| E | £ | |
| This represents amount provided and | ||
| set aside for specific purpose. | ||
| Members fund invested In the property | 1,010,159 | 1,010,159 |
| Refurbishment/Improvement to Property | ||
| 1,010,159 | 1,010,159 |
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Charity Number: 1109678
WINNERS KINGDOM INTERNATIONAL CHRISTIAN CENTRE
REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021
| STATEMENT OF FINANCIAL ACTIVITIES | ||||
|---|---|---|---|---|
| 2021 | 2020 | |||
| £ | £ | |||
| Incoming Resources | ||||
| Tithes and Offerings | 72,809 | 110,037 | ||
| Building Fund | 7,174 | 22,625 | ||
| 79,983 | 132,662 | |||
| Gifts Aid Receivable | 50,629 | 56,797 | ||
| 130,612 | 189,459 | |||
| Other Income | ||||
| Interest Received | ||||
| 130,612 | 189,459 | |||
| Resource Expended | ||||
| Cost of generating funds | ||||
| Outreach events | 2,500 | 16,795 | ||
| Publicity and Radio Ministry | 16,880 | 26,412 | ||
| Love offerings | 12,736 | 14,125 | ||
| Donations to good causes | 13,499 | 19,615 | ||
| 45,615 | 76,947 | |||
| Management and Administration | ||||
| Rates | 1,035 | 1,035 | ||
| Professional and Consultancy Fees | 450 | 5,135 | ||
| Training and Educational Resources | - | 2,065 | ||
| Travelling and Accomodation | 2,000 | 9,259 | ||
| Office Consumables | 1,841 | 1,595 | ||
| Telephone, Fax and Internet | 847 | 728 | ||
| Building Maintenance and Repalrs | 17,765 | 12,288 | ||
| Insurance | 1,711 | 1,711 | ||
| Utilities Miscellaneous |
5,655 878 |
5,582 408 |
||
| Hounourarium | 2,003 | 10,124 | ||
| Accountancy and Bookkeeping | 2,240 | 4,219 | ||
| Bank charges | 1,080 | 1,181 | ||
| Deprectation charged | 16,061 | 21,277 | ||
| 53,566 | 76,607 | |||
| Total Resource Expended | 99,181 | 153,554 | ||
| Excess ofIncoming Resources | ||||
| OverResourceExpended | 31,431 | 35,905 |
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Charity Number: 1109678