Miracle Christian Centre International Ltd
Charity No. 1111444
Company No. 04978824
Trustees' Report and Unaudited Accounts
31 December 2022
Miracle Christian Centre International Ltd Contents
| Pages | ||
|---|---|---|
| Trustees' Annual Report | 2 to 3 | |
| Independent Examiner's Report | 4 | |
| Statement of Financial Activities | 5 | |
| Summary Income and Expenditure Account | 6 | |
| Balance Sheet | 7 | |
| Notes to the Accounts | 8 to | 11 |
| Detailed Statement of Financial Activities | 12 | to |
Page 1
Miracle Christian Centre International Ltd Trustees Annual Report
The trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the unaudited financial statements of the charity for the year ended 31 December 2022.
REFERENCE AND ADMINISTRATIVE DETAILS
Company No. 04978824
Charity No. 1111444
Registered Office
Unit 2 Capital Business Park Manor Way Borehamwood Hertfordshire WD6 1GW
Directors and Trustees
The Directors of the charitable company are its Trustees for the purposes of charity law. The following Directors and Trustees served during the year:
M. Anderson K.A. Mcleod K. Millie-James D. Ngoma E.E.K. Okai N.N. Roach
Company Secretary
K. Millie-James
OBJECTIVES AND ACTIVITIES
The Charity's object and its principal activity is for the advancement of the Christian religion in the United Kingdom and overseas, and to relieve persons in conditions of poverty, sickness and distress.
The Charity operates as a church in the Watford area and currently has approximately 100 members who attend regular services. The Church also welcomes up to 20 visitors on a regular basis who are able to donate to the charity. It is hope that these visitors will become members.
The Charity raises money through regular tithes from members, and by offerings from members and visitors. Some of the funds are used to assist members of the church who may be in financial hardship, and donations are made to other small charities as determined by the Trustees. The Charity also supports overseas missions, orphanages and schools primarily in Jamaica and Venezuela.
The Charity is organised so that the trustees meet regularly to manage its affairs.
Page 2
Miracle Christian Centre International Ltd Trustees Annual Report Public b8nefit As a small charity, below the Charities Act's audll threshold, the report focuse8 on the maln actlvlties undertaken by the charity to further its eharitable purposes for the public benefit. The 'Objectlve8 and Activltles, section ot the report provlde a bilef summary of activitle8 undertaken together with a conflrmatlon that the Irustees have had regard to the charitles commlssion guldance on publlc benellt, in particular Ihe guldance on charitles for the advancement of relilllon, when plannlng thelr actwltles. Further more detalled informatlon about the activiti8s and thelr success ts provlded In the 'Achlevements and Pertomance, 8ectlon of Ihe report. ACHIEVEMENTS AND PERFORMANCE Development, activities and achievemenls thls year The trustees ¢onslder thal the performances of the Charlty In the yeai to date is on an Improvlng trend. compared to the previous year, and It18 envl8aged that the performance wlll contlnue lo improve year on year, demon8trated by an inGiea3e in our bank cash balance8. FINANCIAL REVIEW Investment policy and obiectives Under the memorandum and artlcle8 of association, the Charlty ha8 the power to mak8 any investment whlch the trustees see$ flt. No declslons hav8 been made as yet. However, the Charlty has 8aved a considerable sum to go towards the purchase ot a bulldlng of thelr own. PLANS FOR FUTURE PERIODS The charlty alms to purcha8e thelr own church buildlng. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charlty Is controlled by Its oovernlng document, a deed of trust, and constltute8 a Ilmited company, Ilmited by guaranlee. a8 deflned by the Companle8 Act 2006. The Trustee8 are responsible for keeping proper accountlng records that dlsclose wlth reasonable accuracy at any tlme the financlal PO8ltlon of the charlty and to 8nable them to ensure that the financial statements comply wlth the Companies Act 2006. The Trustees are also iesponslble for safeguardlng ihe assets of the charliy and henGe taklng reasonable steps lor the preventlon and detection of fraud and other Irregularities. The above report ha$ be8n prepared In accordance wlth Ihe pFovl3lon3 appliGable to companle8 8ubiecl lo the small companles iegirne as Set out In part15 of the Companles Act 2006 and In accordance wlth the Charltles SORP IFRS 1021. Slgned on behall of the board K.A. Mcleod Trustee 04 August 2023 Page 3
Miracle Christian Centre International Ltd Independent Examiners Report
Independent Examiner's Report to the trustees of Miracle Christian Centre International Ltd
I report to the charity trustees on my examination of the financial statements of Miracle Christian Centre International Ltd for the year ended 31 December 2022 which comprise the Statement of Financial Activities, the Summary Income and Expenditure Account, the Balance Sheet and the related notes.
Responsibilities and basis of report
As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act.
Having satisfied myself that the financial statements of the charity 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 financial statements as 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.
Independent examiner's statement
I have completed my examination. I can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that:
-
accounting records were not kept in accordance with section 386 of the 2006 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 of the 2006 Act other than any requirement that the financial statements give a 'true and fair' view which is not a matter considered as part of an independent examination; or
-
the financial statements have not been prepared in accordance with the Charities SORP (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 financial statements to be reached.
Vishal Patel ICAEW VPC Accountants Limited 101 Brookdene Avenue Greater London WD19 4LG 04 August 2023
Page 4
Miracle Christian Centre International Ltd Statement of Financial Activities
for the year ended 31 December 2022
| Notes Income and endowments from: Donations and legacies 4 Investments 5 Total Expenditure on: Raising funds 6 Other 7 Total Net gains on investments Net income 8 Transfers between funds Net income before other gains/(losses) Other gains and losses Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
Unrestricted funds 2022 £ 177,443 260 |
Total funds 2022 £ 177,443 260 |
Total funds 2021 £ 194,550 - |
|---|---|---|---|
| 177,703 56,233 4,060 |
177,703 56,233 4,060 |
194,550 45,741 3,175 |
|
| 60,293 - |
60,293 - |
48,916 - |
|
| 117,410 - |
117,410 - |
145,634 - |
|
| 117,410 | 117,410 | 145,634 | |
| 117,410 318,872 |
117,410 318,872 |
145,634 269,875 |
|
| 436,282 | 436,282 | 415,509 |
Page 5
Miracle Christian Centre International Ltd Summary Income and Expenditure Account
for the year ended 31 December 2022
| Income Interest and investment income Gross income for the year Expenditure Depreciation and charges for impairment of fixed assets Total expenditure for the year Net income before tax for the year Net income for the year |
2022 £ 177,443 260 177,703 56,233 4,060 60,293 117,410 117,410 |
2021 £ 194,550 - |
|---|---|---|
| 194,550 | ||
| 142,378 3,175 |
||
| 145,553 | ||
| 48,997 | ||
| 48,997 |
Page 6
Miiacle Christian Centre Internatlonal Ltd Balance Sheet al 31 Dec8mber 2022 Company No. 04978824 Notes 2022 2021 Fixed assets Tanglble assets 10 23,005 23,005 17,991 17,991 Current assets Debtors Cash at bank and In hand 11 22,044 293,089 315,133 {6.540} 308,593 331.598 331,598 331,598 22,044 285,377 307,421 {6.540} 300,881 318,872 318,872 Creditor8- Amount falllng due withln one year Net current aetS Total assets less current liabllltles Net assets excluding pension assel or Ilabllity Total net as3et8 12 318,872 The funds of the charity Restricted lunds Unresiricted funds General fundg 13 13 331,598 331,598 318,872 318,872 Reserves 13 Tolal f unds 331,598 318.872 These accounls have been preplied In accordance with Ihe Special provl8lon8 Ot Part 15 of the Companies Act 2006 relatlng to small companies. For Ihe year ended 31 December 2022 the company wa8 entltled to exemptlon under sectSon 477 01 the Companies Act 2006 ielatlno 10 8mall companies. The member8 have not reoulred the company to obtaSn an audlt In accordance with $ectlon 476 of the Companle8 Act 2006. The dlrectors acknowledge thelr fe8pon$lbllllle8 for Complying with the requirements Ot the Companles Act 2006 wlth re8pect to accounting fecords and the preparallon of accounts. Approv8d by the board on 04 August 2023 And 8lgned on Its behalf by.. KA. Mcleod Trustee 04 August 2023 Paue 7
Miracle Christian Centre International Ltd Notes to the Accounts
for the year ended 31 December 2022
- 1 Accounting policies
Basis of preparation
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Exenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures, fittings & equipment - 15% reducing balance
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2 Company status
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 Accounts
3 Statement of Financial Activities - prior year
| 3 Statement of Financial Activities - prior year |
|||
|---|---|---|---|
| Income and endowments from: Donations and legacies Total Expenditure on: Raising funds Other Total Net income Net income before other gains/(losses) Other gains and losses: Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward 4 Income from donations and legacies 5 Income from investments Interest income |
Unrestricted £ 177,443 177,443 Unrestricted £ 260 260 |
Unrestricted funds 2021 £ 194,550 194,550 142,378 3,175 145,553 48,997 48,997 48,997 269,875 318,872 Total 2022 £ 177,443 177,443 Total 2022 £ 260 260 |
Total funds 2021 £ 194,550 |
| 194,550 142,378 3,175 |
|||
| 145,553 | |||
| 48,997 | |||
| 48,997 | |||
| 48,997 269,875 |
|||
| 318,872 | |||
| Total 2021 £ 194,550 |
|||
| 194,550 | |||
| Total 2021 £ - |
|||
| - |
Page 9
Miracle Christian Centre International Ltd Notes to the Accounts
6 Expenditure on raising funds
Unrestricte
| Fundraising trading costs Visiting pastors Ministers expenses Mission expenses Travel and subsistence 7 Other expenditure Amortisation, depreciation, impairment, profit/loss on disposal of fixed assets 8 Net income before transfers This is stated after charging: Depreciation of owned fixed assets 9 Staff costs No employee received emoluments in excess 10 Tangible fixed assets Cost or revaluation At 1 January 2022 Additions At 31 December 2022 Depreciation and impairment Depreciation charge for the year Impairment At 31 December 2022 Net book values At 31 December 2022 |
d £ 12,848 39,720 3,665 60,899 of £60,000. |
Endowment £ - - - 4,666 - Unrestricted £ 4,060 4,060 2022 £ 4,060 |
Total 2022 £ 12,848 39,720 3,665 4,666 60,899 Total 2022 £ 4,060 4,060 £ 63,604 9,074 72,678 45,613 4,060 49,673 23,005 |
Total 2021 £ 5,265 38,984 1,492 2,785 |
|---|---|---|---|---|
| 48,526 | ||||
| Total 2021 £ 3,175 |
||||
| 3,175 | ||||
| 2021 £ 3,175 £ 63,604 9,074 |
||||
| 72,678 | ||||
| 45,613 4,060 |
||||
| 49,673 | ||||
| 23,005 |
Page 10
Miracle Christian Centre International Ltd Notes to the Accounts
| 11 Debtors Trade debtors Other debtors 12 Creditors: amounts falling due within one year Accruals 13 Movement in funds Restricted funds: Unrestricted funds: General funds Total funds 14 Analysis of net assets between funds Fixed assets Net current assets 15 Reconciliation of net debt Cash and cash equivalents Net debt |
At 1 January 2022 318,872 318,872 |
2022 £ 18,000 4,044 22,044 2022 £ 6,540 6,540 Incoming resources (including other gains/losses) £ 177,703 177,703 At 1 January 2022 £ |
Resources expended £ (164,977) (164,977) Unrestricted funds £ 23,005 308,593 331,598 Cash flows £ |
2021 £ 18,000 4,044 |
|---|---|---|---|---|
| 22,044 | ||||
| 2021 £ 6,540 |
||||
| 6,540 | ||||
| At 31 December 2022 £ 331,598 |
||||
| 331,598 | ||||
| Total £ 23,005 308,593 |
||||
| 331,598 | ||||
| At 31 December 2022 £ |
||||
| 285,377 | 7,712 | 293,089 | ||
| 285,377 285,377 |
7,712 7,712 |
293,089 | ||
| 293,089 |
16 Related party disclosures
Controlling party
A company in which Mrs K Millie-James is a director, Sovereign Associates Limited. Accounting fees of £nil (2021: £nil) were paid.
Page 11
Miracle Christian Centre International Ltd Detailed Statement of Financial Activities
for the year ended 31 December 2022
| Income and endowments from: Donations and legacies Investments Total income and endowments Expenditure on: Costs of other trading activities Total of expenditure on raising funds General administrative costs, including depreciation and amortisation Depreciation of Total of expenditure of other costs Total expenditure Net gains on investments Net income Net income before other gains/(losses) Other Gains Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
Unrestricted funds 2022 £ 177,443 177,443 260 260 177,703 12,848 39,720 3,665 56,233 56,233 4,060 4,060 4,060 60,293 - 117,410 117,410 - 117,410 318,872 436,282 |
Total funds 2022 £ 177,443 177,443 260 260 177,703 12,848 39,720 3,665 56,233 56,233 4,060 4,060 4,060 60,293 - 117,410 117,410 - 117,410 318,872 436,282 |
Total funds 2021 £ 194,550 |
|---|---|---|---|
| 194,550 | |||
| - | |||
| - | |||
| 194,550 5,265 38,984 1,492 |
|||
| 45,741 | |||
| 45,741 3,175 |
|||
| 3,175 | |||
| 3,175 | |||
| 48,916 - |
|||
| 145,634 | |||
| 145,634 - |
|||
| 145,634 | |||
| 269,875 | |||
| 415,509 |
Page 12