Mlracle Chrlstian Centre Internatlonal Ltd Chorlty No. 1111444 Company No. 04978824 TNstees' Report and Unaudited Accounts 31 Oecember 2021
Miracle Christian Centre International Ltd Contents Pages 2to3 Trustees, Annual Report Independent Examiner's Report Statement of Financial Activities Summary Income and Expenditure Account Balance Sheet Notes to the Accounts 8t012 Detalled Statement of Financial Attivities 13to14 Page I
Mlracle Chrlsttan Centre International Ltd Trustees Annual Report The trustees, who are abo directors of the charity for the purwses of the Companies Act 2¢XI6, present their report with the unaudrted financial statements of the charity for the year ended 31 December 2021. REFERENCE AND ADMINISTRATIVE DAlL5 Company No. 04978824 Charlty No. 1111444 Reglstered Office Unit 2 Capital Business Park Manor Wav Borehamwood Hertfordshire WD6 IGW Olrector5 and Trustees The Directors of the charitable company are its Trustees for the purposes of charity law. The followin8 DSrectors and Trustee5 served (luring the year: M. Anderson K.A. Mcleod K. Mlllle-james D. Ngoma E.E.K. Okai N.N. Roach Company Secretary K. Millie-lames OBJECTIVES AND ACTIVITIES Oble¢tl¥es. princlpal a¢tivitles and or8anisation of our work The Charity's objett and Its principal activity is for the advancement of the Christian reli8ion in the United Kingdom and ¢)ver5ea5, and to relieve persons in conditions of poverty, sickness and distress. The Charity operates as a church in the Watford area and turrently has approximately ICQ members who atten(I regular servites. The Church also welcomes up to 20 visiiors on a regular basis who are able to donate to the charity. It is hoped that these visitor5 will become members. The Charity raises money throu8h reBular tithes from rnembers, and by offerin85 from members and visitors. Some of the funds are used to assist members of ihe church who may be bn financbal hardship, and donations are made lo other small charities as determined by the Trustees. The Charity abo supports overseas missions, oiphanages and schools primarily in Jamaica and VÈnezuÈla. The Charity is organised so that the trustees meet regularly to manage its affairs. Page 2
Miracle Christian Centre International Ltd Trustees Annual Repo¥t Public benefit As a small charity. below thÈ Charities Act's audit threshold. the report focu5e5 Dn the main activities undertaken by the charity to further Its charitable purpose5 for the public benefit. The'ObiectlVLS and Activitiès. section ol the report provid@ a brief summary of aciivities undertaken together with a conlirrnation thal the trustees 113ve h3d reE3rd to the chÈrit.P.5 tommission guidance on public bene.fil, .r' parti¢ul)r the guidan¢e on charities for the advanctmoni of religion, when planning their activities. Fdri>iLJr more detailed infoimaLion about the activities and Iheir 5ucce55 15 provided in the'A¢hievetnent5 and Performance, section of the report. ACHIEVEMENTS AND PERFORMANCE Development. auivities and achievements this year The trustees consider that thÈ performances of the Charsty in the year to date 15 on an irnprvving trend compared to the previous year, and it is envisaged that Ihe perforrnance will continue to improve year on ye3r, dÈmonstra¢ed by an intrease in our bank cèsh balances. FINANCIAL REVIEW Invostment polity and objectives Under the memorandum and articles of associaiion, the Charity has the power to rnake any Investment which the trustees sees fit. No decisions have been made as yet. However. the Charily has saved a consiéerable sum to go towards the purchase of a building ol their own. PLANS FOR FUTURE PERIOOS The charity aims to purchasÈ their ttwn cliurch building. STRUCTURE. GOVERNANCE AND MANAGEMENT Governing document The charity is controlled by Ils governing docutnÈnt. a deod of trust. and constitutes a limited company, litnited by guaraniee. as deflned by the Companies AU 2006. The Tru5tee5 are responsible for keeping proper accounting record5 that disc105e with iea50nable arcuracy at any tim@ th@ finantial p051tion of the charity and to enable them to ensure that the financia5 statements cornply with the Cotnpanies Act 2006 The Tru5tee5 are 3150 responsible for safeguarding the assets of thp £harity and hence taking reasonable steps for the prevÈntion and dÈte¢tSon of fraud and other IrrEgulai.tie5 The abowe report ha5 been prepared in accordance with the provislons applitablÈ to companies subject to the smèll companies regime as Set out in Part 15 of the Cornpanie5 Act 2006 and in accordance with the Charities SORP IFRS 1021 Signed o behalf of the b.oard K.A. Mcletsd Trustee 31 December 2021 Page 3
Miracle Christian Centre International Ltd Independent Exarniner5 Report Independent Examiner's Report io the trustees of Miracle Christian Centre International Ltd I report to the charity trustee5 on my examin3tion of tne financial statements of Miracle Christian =en're International Ltd for the year ended 31 December 2021 which comprise the Statement of Financia. 4C14V.fies, the Summary Income and Éxpenditure Account, the Balance Sheet and the related notes. Responsibilities and basis of report As the trustees of the charity land also its directors for the purposes of company lawl you are respr>nsiJie for the preparation of the financial statements in accordance Wbth the requirements of the Companies iCt 200G I'the 26 Act. Having satlsfied myself that the financial statemenis of the charity are not required to be audited biider Part 16 of the 2006 Act and ale eli8ible for intlependeni examination, I report Èn respect of my examii.a..oi', ol your charity's financial statements as carried oul under section 145 of the Charities Aci 20: l'ine 4 J. In carrying out my examination I have followed ihe Directions given by the Charity commi55.gn uii¥': 14515llbl of the 2011 Art seci.011 Independent examiner's statement I have completed my ex3minalion. I can confirm that no material matters have come to my attent.on .n connection with the examination givin8 me cause to beljeve that.. accountin8 records were not kept in accordance with section 386 of the 2CQ6 Act . or • the financial statements do not accord with those records; or the financial statements do not comply with the accounting requirements under section 396 0, ne 2006 Art other than any requirement that the financi31 sraiements give a 'true and fair, view which ,s noi a matter eonsidered as part of an independent examin3tion," or • the financial statements have not been prepared in accordance with the Charities SORP IFRS 1-21, I have no concerns and have come acr055 no other matters in connection with the examination to 'ttIch attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached. Vlshal Patel IC4EW VPC Accountants Limited Sanjita Bhavan 101 Brookdene Avenue Watford Greater London WD19 4LG 310ecember 2021 Page 4
Miracle Christian Centre International Ltd Statement of Financial Activities for the year ended 31 December 2021 Unrestricted funds Total funds Total fund5 2021 2021 2020 Notes Income and endowments from.. Donatlons an(1 legacies Other trading activities Investments 194,550 194,550 197.107 80 1,126 Totsl 194.550 194,550 198,313 Expenditure on.. Raising funds Other 142,378 3,175 142,378 3,175 39,254 Total 145,553 145,553 139.254 Net gains on investments Net Income 48,997 48,997 Transfers between funds Net Income before other 8alns/llossesl 48,997 48.997 59,059 Other 8alns and Ise$ Net movement In funds 48,997 48,997 Re£on¢lllation of funds: Total funds brou8ht loard 269,875 269.875 210,816 Total funds Carried forward 318,872 318.872 269,875 Page 5
Miracle Christian Centre International Ltd Summary Income and Expenditure Account for the year ended 31 December 2021 2021 2020 Income 194,SSO 197,187 Interest and investment Income 1,126 Gross Income for the year 194,550 198.313 Expenditure 142,378 139,254 Depreciation and charges for Smpalrment of fixed assets 3,175 Total expendlture for the year Net income before tay for the year 145,553 139,254 48.997 59,059 Net Income for the year 48,997 59.059 Page 6
Miracle Christian Centre Intematlonal Ltd Balance Sheet at 31 December 20ZI CDmpany No. 04978824 Note5 2021 202Q Fixed asset5 ran8ible assets li 17.991 17.991 9.16? 9.IE2 Current a55ets Debtors Cash at bank and in hand 12 22,044 285,377 307.421 16.5401 3C(1,881 21,944 235,130 257.074 IG.3611 250,713 Creditor5.. Amount lallin8 due withln one year Nei curr¢nl assets 13 Total •$sets less current Ilabllltl 318.872 269 875 Net assets exrludlng penslon 455et or Ilabllity Total net asstts 318,872 ?.69.875 318,872 269,875 The funds of the th•rlty Re5trlcted funds Unre5trleted funds General fund5 14 14 31B,872 2G9,87S 318.872 2(JY.A15 Res¢rv•s 14 Total ftsnds 318.872 261J.8 IS These accounts have been prepared in a¢¢ordance with ihe spttial wovisions ol Part IS ol the Companill Att 2L))6 relotin8 io small companles. Foi the yèar ended 31 December 2021 the comp•ny entirled to e¥emption under settion 477 of the Companies Act 2006 relating to small cornpan*es The membpr5 have not requlred the company to obtèin an audrt in accordance with sectlon 476 of the Companles Act 2006 The directois acknowled8e their responsibilitres for cornplylnK with the requirements of the Companies Aci 2006 with respect to accounting records and the prepafation ol accounts. Approved by the board on 31 Oectmber 2021 And signed on its behalt bv.. K.A. Mcleod Trustee 31 December 2021 Page 7
Mlracle Christian Centre International Ltd Notes to the Accounts for the year ended 31 December 2021 l Accountin8 policies Basis of preparation The Pinancial statements have been prepared in accordance wilh Accounting and Reporting by Char'.ties'. Statement of Recommended Practice applicable to charilies preparin8 their accounts in accoidance with the Financial Reporting St3ndard applicable in the UK and Republic of Ireland IFRS 1021 leffeclike I January 20151 (Charities SORP IFRS 10211. the Financial Reporting Standard applicable In the and Republic of Ireland IFRS 1021 and the Companies Aci 2Q)6. Income All income is recognised in the Statement of Financial Activities once ihe charity has entitlement to the funds, it is probable that the income will be recelved and ihe amount can be measured reliably. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation cornmittin8 the charity to that expenditure. it 15 probable ihat a transfer of economic benefits will be required In settlement and the amount of the obli8ation can be measured reliably. Expenditure is accounteo lor on an accruals basis and has been classified under headin85 that a88regate all cost related to ihe cate80ry. Where costs cannot be directly attribuied to particular headings they have been allocaied to activities on a basis consistent with the use of resources. Tanglble flxed assets Depreclatbon is provided at the following annual rates in order to write off each asset over ils esr,'mated useful life. Fixtures, fittin8s & equipment - 15% reducing balante Taxation The chority is exempt from corporation tax on its charitable adivities. Fund accountln8 Unrestricted funds can be used in accordance with the charitable objective5 at the discretion ol the trustees. Restricted funds can only be used for particular restricted purposes within the objecis ol the charity. Restrictions arise when specified by the donor or when funds are raised for particula¥ restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. 2 Company statu5 The company is a private company limited by guarantee and consequently does not have share capital. Page 8
Miracle Christian Centre International Ltd Notes to the cOUnt$ 3 Statement of Financial Activities prior year Unrestricted funds Tntab funG'S 2020 2020 Income and endowments from.. Donations and legacies Other trading activities Investrnents 197,107 80 1,126 197,107 80 ,126 Total 198,313 98,313 Expenditure on.. Raising funds 139,254 Total 139,254 139,254 Net income 59,059 59,059 Net intome before other gainslllossesl Other 8ains and losses: Net movement in funds 59,059 59,059 59,059 59,059 Reconciliation of fvnds.. Total funds brought forward 210,816 210,816 Total funds carried forward 269,875 269,875 4 Income from donations and lègacies Unrestricted Tota5 2021 194,550 194,550 194,550 194,550 97,107 S Income from other trading activitie5 Total Total 2021 2020 80 80 6 Income from investments Total Total 2021 2020 Page 9
Miracle Christian Centre International Ltd Notes to the Accounts 7 Expenditure on raisin8 funds Unrestrirted Tota5 2021 Fundraising tmding costs Visiting pastors MinSsters expenses Mission expenses Travel and subsistence 5,265 38,984 1,492 2,785 48,526 5,265 38.984 1.492 2,785 48.526 5,786 34,601 930 ,509 42,826 8 Other empenditure Unrestrirted Toial Tuial 2021 2020 Amortisation, depreciation, impaiiment, profitlloss on disposal of fixed assets 3,175 3,175 3,175 3,175 9 Net Income before translers 2021 2020 This is Stated after char8in8'. Depreciation of owned fixed assets 10 Staff cost5 No employee received emoluments in excess of £f.0c(l. 11 Tan8lble Ilxed assets 3,175 Cost or revaluatSon At l January 2021 Additions 61.600 2.004 ,6?0 2,004 At 31 December 2021 Depreciation and Impalrment At l January 2021 Depreciation charge for the year At 31 December 2021 42.438 42,438 3,175 3,175 45,613 45,613 Net book values At 31 Detember 2021 At 310ecember 2020 17.991 19,162 7.991 Page 10
Mlracle Christian Centre International Ltd Notes to the Accounts 12 Debtors 2021 2C20 Trade debtors Other debtors 18,C 8.ogo 3.94 22,044 13 Creditors.. amounts fallin8 due within one year 2021 2Q20 Accruals Deferred income 6.540 6,361 6,540 14 Movement in funds Incomin8 resources At31 lincludln8 other At l January gain511Se$ 2021 Resources expended ZC21 Restrlrted funds: Unrestrlcted funds: General funds 269,875 194.550 1145,5531 3:8,872 Total funds 15 Analysis of net asset$ between funds 269,875 194.550 1145,5531 3:8.872 Unrestricted funds Total Fixed assets Net current assets 17,991 300,881 318,872 17,991 300,881 8,872 16 Reconciliation ot net debt At31 At l January 2021 December Cash Aows 2021 Cash and cash equivalent5 235.130 235,130 50,247 50,247 285,377 285.377 Net debt 235,130 £85.377 Pa8e 11
Mlracle Christian Centre International Ltd Notes to the Accounts 17 Related party disclosures Controlling party A company In which Mrs K Millie-Jame5 is a director, Sovereign Associates Limited. Account."ng Inbe5 nf £nil12020.. £9,217) were pabd. Page 12
Miracle Christian Centre International Ltd Detailed Statement ¢f Flnancial Artivities for the year ended 31 December 2021 Unrestricted funds Total funds 2021 otal funds 2021 In¢ome and endowments from: Donations and legacies 194,550 194,550 194.550 194.550 197,107 Other trading activities 80 80 Investments ,126 Total income and endowments 194.550 194,550 198,313 Expendlture on.. Costs of other trading activities 5,265 38,984 1.492 2,785 11.027 82,825 142,378 5,265 38.984 1,492 2,785 11.027 82,825 142,378 5,786 34,60: 930 ,509 6,195 90,232 Total of expenditure on raisln8 funds 142,378 142,378 139,254 General administrative costs, includin8 depreciation and amortisation Depreciation of 3,175 3,175 3,175 3,175 3,175 3,175 Total of expenditure of other ¢ost$ Total expenditure Net gains on investments 145.553 145,553 39,254 48,997 48,997 59,059 Net income Net income beforè other 8ains/llossesl Other Gains 48,997 48,997 Net movement in funds 48.997 48,997 59,059 Page 13
Miracle Christian Centre Internatlonal Ltd Detailed Statement of Financial Arti¥ities Reconciliation of lunds: Total funds brought forward 269,875 269.875 2: C.816 Total funds carrled forward 318.872 318,872 269.875 Pa8e 14