Registered number 1111328 Dunamis International Gospel Centre Accounts 31 May 2023
Dunamis International Gospel Centre Registered number: 1111328 Directors' Report
The trustees present their report and accounts for the year ended 31 May 2023.
Principal activities
Dunamis International Gospel Centre is a UK registered charity which is governed by a deed of declaration of trust dated 5 August 2005.
Objects
1) To advance the Christian faith in accordance with the Statement of Beliefs appearing in the Schedule (of the Declaration of Trust) in London and in such other parts of the United Kingdom or the world as the trustees may from time to time think fit.
2) to relieve persons who are in conditions of need or hardship or who are aged or sick and to relieve the distress caused thereby in London and in such other parts of the United Kingdom or the world as the trustees may from time to time think fit.
3) to promote and fulfil such other charitable purposes beneficial to the community in London and in such other parts of the United Kingdom or the world as the trustees may from time to time think fit.
Areas
◼ Education and training
◼ The advancement of health or saving of lives
◼ The prevention or relief of poverty
◼ Overseas aid/famine relief
◼ Accomodation/housing ◼ Religious activities ◼ Economic/community development
Review of the Year
During the year, the Centre continued its work of bringing the message of Christ to a global audience through services in London under the spiritual guidance of a Minister.
The trustees have had regard to the guidance issued by the Charity Commission on public benefit when planning the activities of the Centre.
Financial Review
The financial activities of the Centre mainly comprise unrestricted grants and donations. Restricted donations require that the funds be used in a specific way or for a specific purpose by the charity. However, the Centre had no restricted funds during the financial year under review. All unrestricted funds go towards the operating expenses of the Centre.
The major source of income are grants from DIGC Nigeria and voluntary contributions of members during services and appeals to fund specific projects such as a church building. Grants and donations received during the year amounted to £499495 an increase of 83% over the same period last year. Expenditure total for the year was £383214 including support costs and the cost of outreach work in Spain and the Liverpool, Manchester and Birmingham areas; an increase of £98599 or 34.6% over last year's total of £284615. Overall surplus for the year was £116281 compared with last year's deficit of £11611. Accumuilated funds increased by 60.9% to £308812 over last years total of £191875.
This report was approved by the board on 9 June 2024 and signed on its behalf.
Mrs Ivy Orieji - Trustee Chairperson
Dunamis International Gospel Centre
Independent Examiner's Report to the Trustees of Dunamis International Gospel Centre for the year ended 31 May 2023
This report on the financial statements of Dunamis International Gospel Centre for the year ended 31 May 2023, which are set out on pages 1 to 5, is in respect of an examination carried out in accordance with the Church Accounting Regulations 2006 ('the Regulations') and s.145 of the Charities Act 2011 ('the 2011 Act').
Respective responsibilities of the Trustees and examiner
As the charity Trustees of Dunamis International Gospel Centre who are also directors for the purposes of company law, you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination, I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. That examination includes a review of the accounting records kept by the Trustees and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeking explanations 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
I have completed my examination for the year ended 31 May 2023. I confirm in connection with my examination, no matter has come to my attention which gives me reasonable cause to believe that in any material respect:
-
accounting records were not kept in respect of the company as required by s 396 of the 2006 Act; or
-
the accounts do not accord with those records; or
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the accounts do not comply with the requirements of s 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair view' which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable to UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
J.S Vincent
9 June 2024
Dunamis International Gospel Centre Statement of financial activities for the year ended 31 May 2023
| Incoming resources Direct charitable expenditure Fundraising and publicity Governance costs Other operating income Operating surplus/(deficit) Profit on the disposal of tangible fixed assets Profit on the disposal of investments Gain on revaluation of investments Income from investments Interest receivable Interest payable Surplus/(deficit) for the year |
Unrestricted funds 2023 £ 499,495 (326,590) 172,905 - (57,324) - 115,581 - - - - 656 - 116,237 |
Unrestricted funds 2022 £ 273,004 (256,454) |
|---|---|---|
| 16,550 - (28,161) - |
||
| (11,611) - - - - - - |
||
| (11,611) |
1
Dunamis International Gospel Centre Registered number: 1111328 Balance Sheet as at 31 May 2023
| Notes | 2023 | 2022 | |||
|---|---|---|---|---|---|
| £ | £ | ||||
| Fixed assets | |||||
| Tangible assets | 3 | 51,041 | 25,401 | ||
| 51,041 | 25,401 | ||||
| Current assets | |||||
| Debtors | 4 | - | - | ||
| Cash at bank and in hand | 445,613 | 221,314 | |||
| 445,613 | 221,314 | ||||
| Creditors: amounts falling | due | ||||
| within one year | 5 | (188,542) | (55,108) | ||
| Net current assets | 257,071 | 166,206 | |||
| Total assets less current | |||||
| liabilities | 308,112 | 191,607 | |||
| Creditors: amounts falling | due | ||||
| after more than one year | 6 | - | - | ||
| Net assets | 308,112 | 191,607 | |||
| Capital and reserves | |||||
| Reserves | 308,112 | 191,875 | |||
| Shareholder's funds | 308,112 | 191,875 |
The trustees are satisfied that the charity is entitled to exemption from the requirement to obtain an audit under the Charities Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The trustees acknowledge their responsibilities for complying with the requirements of the Charities Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to small charities.
Dr Paul Enenche - Chairperson Director Approved by the board on 9 June 2024
2
Dunamis International Gospel Centre Notes to the Accounts for the year ended 31 May 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with the provisions of the Charities Act 2006, and the Charities (Accounts and Reports) Regulations promulgated thereunder, and the Statements of Recommended Practice issued by the Charity Commission.
Unrestricted funds represent funds which are expendable at the discretion of the trustees in furtherance of the objects of the church and are held in the general fund.
Restricted funds represent grants and donations received and tax refunds arising thereon, which were allocated by the donor for specific purposes.
Direct charitable expenditure
Direct charitable expenditure includes all expenditure which is directly related to the objects of the charity and comprises grants paid and costs whch are directly attributable to charitable activities including charitable support costs.
Management and administration costs
Management and administration costs represent expenditure incurred in the management of the assets of the charity, organisational administration and compliance with constitutional and other statutory requirements. None of the Trustees received any remuneration, nor were paid expenses in the year ended 31 May 2023.
Grants and donations
There were no accruals for these items at the year end
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Equipment and motor vehicles 20% reducing balance basis Fixtures, fittings, tools and equipment 20% reducing balance basis
| 2 Incoming resources Restricted donations Unrestricted donations |
2023 2022 £ £ 2785 496710 273004 499495 273004 |
|---|---|
3
Dunamis International Gospel Centre Notes to the Accounts for the year ended 31 May 2023
3 Tangible fixed assets
| Furniture and fittings Cost At 1 June 2022 5,165 Additions - At 31 May 2023 5,165 Depreciation At 1 June 2022 1,033 Charge for the year 1,033 At 31 May 2023 2,066 Net book value At 31 May 2023 3,099 At 31 May 2022 4,132 4 Debtors Gift aid tax recoverable 5 Creditors: amounts falling due within one year Trade creditors Other creditors 6 Creditors: amounts falling due after one year Bank loans |
Equipment £ 32,007 19,998 52,005 12,624 7,876 20,500 31,505 19,383 |
Motor vehicles £ 7,192 18,660 25,852 5,306 4,109 9,415 16,437 1,886 2023 £ - - 2023 £ 2,200 186,342 188,542 2023 £ - - |
Total £ 44,364 38,658 77,857 18,963 13,018 31,981 51,041 25,401 2022 £ - - 2022 £ - 55,108 55,108 2022 £ - |
|---|---|---|---|
| - |
4
Dunamis International Gospel Centre Income and expenditure account for the year ended 31 May 2023
This schedule does not form part of the statutory accounts
| Incoming resources Restricted funds Donations Unrestricted funds Donations Income tax recoverable Other incoming funds Direct charitable expenditure Honoraria and SOD Worship and support materials Projects, technical and educational Welfare and support costs Travel, motor and oversea expenses Training, staff and support costs Premises and conference accomodation costs Donations and other charitable giving Governance costs Printing, postage and other admin costs Accountancy fees Telephone, fax and website costs Transport, travel and motor expenses Depreciation Advertising and PR Insurance Expensed equipment and repairs Advertising and PR Other legal and professional Depreciation Bank charges Health, safety and security Sundry expenses |
2023 £ 2,785 491,303 - 5,407 499,495 3,500 25,405 68,952 54,930 59,134 16,800 91,339 6,530 326,590 9,067 2,200 1,685 - - 1,800 949 2,980 5,032 15,627 13,018 816 3,960 190 57,324 383,914 - |
2022 £ - 272,677 - 327 |
|---|---|---|
| 273,004 | ||
| 2,803 9,686 41,731 25,311 20,047 13,561 143,315 - |
||
| 256,454 | ||
| 1,682 1,000 223 615 6,350 - 127 281 17,207 166 - 510 |
||
| 28,161 | ||
| 284,615 |
5
| Dunamis International Gospel Centre | ||
|---|---|---|
| Corporation tax computation | ||
| Tax reference | 1318504568 | |
| Period beginning | 1/06/22 | |
| Period ending | 31/05/23 | |
| Accounts period beginning | 1/06/22 | |
| Accounts period ending | 31/05/23 | |
| Adjustment of trading profits | £ | |
| Profit before tax per the accounts | 116,237 | |
| Add back disallowable expenses | ||
| Donations | - | |
| Depreciation and (profit)/loss on sale of assets | 13,018 | |
| Other | - | |
| Capital allowances | (24,778) | |
| Add back dividends payable on non-equity shares included in interest payable | - | |
| Deduct non-trading income | ||
| Interest receivable | (656) | |
| Property income | - | |
| Other income not taxable | - | |
| Other adjustments | ||
| Finance lease adjustments | - | |
| Leased cars | - | |
| Other operating lease adjustments | - | |
| Adjusted trading profit | 103,821 | |
| Charity relief | (103,821) | |
| - | ||
| Taxable profits | £ | |
| Trading profit | - | |
| Charity relief | - | |
| Losses utilised | - | |
| - | ||
| Interest receivable | 656 | |
| Charity relief | (656) | |
| - | ||
| Rental income | - | |
| Net chargeable gains | - | |
| Less: qualifying donations to UK charities | - | |
| Taxable profit | - | |
| Days in accounting period falling in each tax year | ||
| Days falling | ||
| Tax year | **in tax year ** | Days in year |
| 2022 | 304 | |
| 2023 | 61 | |
| 365 | 365 | |
| Corporation tax payable | ||
| Taxable | ||
| Tax year profit |
Tax rate | Corp Tax |
| 2022 - |
19% | - |
| 2023 - |
19% | - |
| - | ||
| Corporation tax payable | - |
6
| Dunamis International Gospel CCapital allowances Tax reference Period beginning Period ending Summary General pool Special rate pool Short term asset pools Total capital allowances General Pool Written down value brought forward Disposal receipts Balancing allowance Balancing charge Expenditure qualifying for writing down allowance Relevant first year expenditure Other expenditure qualifying for first year allowance Expenditure qualifying for annual investment allowance FYA in respect of relevant FYA expenditure £1000 or less: write off Annual investment allowance Writing down allowance Written down value carried forward Special rate pool Written down value brought forward Disposal receipts Balancing allowance Balancing charge Thermal installation expenditure Integral feature expenditure Expenditure on a car that is not a main rate car Expenditure on cushion gas Expenditure qualifying for annual investment allowance Annual investment allowance Writing down allowance Written down value carried forward Total of short life asset pools Number of single asset pools Written down value brought forward Disposal receipts Balancing allowances Balancing charges Expenditure qualifying for written down allowance Relevant first year expenditure Other expenditure qualifying for first year allowance Expenditure qualifying for annual investment allowance FYA in respect of relevant FYA expenditure Other FYA Annual investment allowances Writing down allowances Written down value carried forward |
1318504568 1/06/22 31/05/23 £ 23,373 1,405 - 24,778 £ 18,750 - - - 19,998 38,748 - - - - (19,998) (3,375) (23,373) 15,375 £ 4,752 - - - - - 18,660 - 23,412 - - (1,405) (1,405) 22,007 - £ - - - - - - - - - - - - - - - |
1318504568 1/06/22 31/05/23 £ 23,373 1,405 - |
|---|---|---|
| 24,778 | ||
| £ 18,750 - - - 19,998 |
||
| - - - - |
||
| 22,007 | ||
| - £ - - - - - |
||
| - - - - - |
||
| - |