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2021-03-31-accounts

DESTINY TEMPLE Reports and Accounts for the year ended 31ST MARCH 2021

Legal and administrative information

Status

Registered charitable organisation since 7th April 2006.

Trustees and management committee of the church

Mrs. Jennifer Phillips (Chairperson) Mr. Nnaemeka Anukam Mr. Sunday Adegun

Registered charity number

1113679

Registered office and operational address

Destiny Temple Worcester Street Gloucester GL1 3AS

Bankers

Natwest Bank

Accountant

AL Accounting Solutions Chartered Certified Accountants 21A Brighton Road South Croydon Surrey CR2 6EA

1

DESTINY TEMPLE Reports and Accounts for the year ended 31ST MARCH 2021 Trustees Report

The trustees presents its annual report and the unaudited financial statements for the period.

The year 2020 -2021 was themed “Harvest”. We started the year with great plans and goals but unfortunately came to “Halt” when the whole nation went to a total lockdown. It felt like God had pressed a PAUSE button where the whole world stood still and took time to reflect. The lockdown led to some unprecedented challenges to the church community as follows:

Attendance: As a result of the national lockdown, we could not gather in the church premises for a couple of months. The months where the rules were eased, we could only have in attendance less than 30 people in the premises.

Finances : Once again because of the lockdown, the church’s income deteriorated drastically because we were used to giving onsite instead of online.

Staffing : As a result of the pandemic, we had to lay-off some members of the staff.

Despite these challenges we achieved successes in;

Online Services: The Covid challenge pushed us to improve on our online streaming of our church services. As a matter of fact, we started to stream twice in a week – Thursday was for prayer and worship, Sunday for Sunday services. On Tuesday’s we changed our connect groups to meet online via zoom links which was very helpful and very convenient.

We invested a lot in this area and kept our congregants spiritually nourished throughout the pandemic.

Volunteers : It’s because of the Team members who worked hard behind the scenes to ensure that we stream services and minister to all our members.

Conference : Despite the pandemic, we still held our Destiny Conference both online and onsite for those who booked. This year we had three life changing conferences.

Carol service : When the pandemic rules were eased, we managed to host our carol service on the 24[th] evening and it was amazing. The attendance was great with a lot of people from the neighbourhood in attendance.

Welfare : During the pandemic, we did all we could within our ability to minister to our congregants needs e.g., we offered food, prayers, and financial support to those who were struggling. We also managed to help our international churches financially during the pandemic.

Building : During the lockdown, we took the initiative to convert the storage area at the back of church into useable rooms. We managed to build two halls and two offices and transformed our reception area. This will enable us to have proper rooms for the children’s church every Sunday.

We look forward to a new year of themed Overflow. We believe amid everything going on, we shall encounter a great overflow.

2

DESTINY TEMPLE

Reports and Accounts

for the year ended 31ST MARCH 2021

Trustees Report continued

Responsibilities and basis of preparation of the report

The trustees acting as the management committee are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Signed on behalf of the trustees

………………………………. Date ……………………………….

Bishop George Obare (Senior Pastor)

3

DESTINY TEMPLE

Reports and Accounts

for the year ended 31ST MARCH 2021 Independent Examiner's Report to the Trustees

I report to the trustees on my examination of the accounts of the above charity for the above period.

Responsibilities and basis of report:

As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).

I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement:

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:

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.

Alhassan Bangura FCCA AL Accounting Solutions Chartered Certified Accountants 21A Brighton Road South Croydon Surrey CR2 6EA

Date.....................................................

4

DESTINY TEMPLE Reports and Accounts

Statement of Financial Activities (including Income and Expenditure Account) for the year ended 31ST MARCH 2021

Unrestricted
Funds
Notes
£
Incoming resources:
Voluntary Income
3
83,715
Gift Aid claims
Grant received
41,242
Total Incoming resources
124,957
Resources Expended
Resources Expended
6
112,449
Total resources expended
112,449
Net Surplus / (Deficit) for the year
12,508
Opening Funds
289,326
Closing Funds
301,834		 Total
Total
Funds
Funds
2021
2020
£
£
83,715
93,577
70,688
41,242
-
124,957
164,265
112,449
142,556
112,449
142,556
12,508
21,709
289,326
267,617
301,834
289,326

No restricted funds at the end of the year

5

DESTINY TEMPLE Reports and Accounts

Balance Sheet as at 31ST MARCH 2021

Tangible Fixed assets
Freehold Buildings at cost
Church Building
Vicarage Building
Other tangible Fixed Assets:
Building Improvements
Plant & Machinery
Current assets
Cash at Bank and in Hand
Less: Creditors and Accruals
Long term liabilities
Mortgage Loan
Net Asset
REPRESENTED BY:
Unrestricted Funds		 Notes
2
4
5		 2020
£
£
£
120,000
120,000
350,000
350,000
470,000
470,000
27,642
12,591
26,632
28,814
54,274
41,405
15,720
18,799
(9,419)
(11,846)
6,301
6,953
(228,741)
(229,032)
301,834
289,326
301,834
289,326
301,834
289,326
2021

Accounts signed on behalf of the Board of trustees

……………………………….

Date ……………………………….

Bishop George Obare

6

DESTINY TEMPLE Reports and Accounts

Notes forming part of the financial statements for the year ended 31ST MARCH 2021

1. Accounting policies

a) The accounts (financial statements) have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2019.

b) Voluntary income is received by the way of donations towards religious tithes and offerings. Donations received is included in full in the Statement of Financial Activities in the year in which they are received.

c) Resources expended are recognised in the period in which they are incurred. Resources expended include attributable VAT which cannot be recovered.

d) Depreciation is provided at rates calculated to write off the cost of each asset over its expected useful life as follows: - Building Improvements 5%

e) Unrestricted funds are donations and other incoming resources received for the objects of the charity without further specified purpose and are available as general funds.

2. Other Tangible Fixed Assets

Building
Improvement
£
Cost:
As at 1 April 2020
20,559
Additions
16,506
As at 31ST MARCH 2021
37,065
Depreciation/Amortisation:
As at 1 April 2020
7,968
Charge
1,455
As at 31ST MARCH 2021
9,423
Net Book Value:
As at 31ST MARCH 2021
27,642
As at 1 April 2020
12,591		 Plant &
Machinery
£
105,933
4,476
110,409
77,119
6,658
83,777
26,632
28,814		 Total
£
126,492
20,982
147,474
85,087
8,113
93,200
54,274
41,405

7

DESTINY TEMPLE

Reports and Accounts

Notes forming part of the financial statements for the year ended 31ST MARCH 2021

3.
Voluntary Income
Tithe & offerings
Partners donation
Building fund
4.
Creditors & Accruals
Inland Revenue PAYE/NI
Credit card balance
Accruals
5.
Vicarage Mortgage Loan
Opening balance
Repayments
Interest charged
Closing balance
6.
Total Resources Expended
Salaries & Wages
Administrative services
Pension Cost
Donations, welfare & honorarium
Events and outreach programmes
Vicarage Expenses
Overseas Donations
Utilities (Heat, Light & Water)
Insurance & licences
Building Improvement & maintenance
Travelling & motor expenses
Training & development
Telephone & internet
Printing, postage & stationery
Sundry expenses
Legal & professional fees
Bookkeeping & accountancy fees
Bank charges & Credit card interest
Depreciation
Total		 2021
£
60,201
1,691
21,823
83,715
708
6,371
2,340
9,419
229,032
.
(11,326)
11,035
228,741
2021
Total
£
60,757
-
1,384
9,841
3,315
11,035
2,035
3,088
3,638
133
2,911
-
864
320
2,232
665
1,507
611
8,113
112,449		 2020
£
76,599
3,121
13,857
93,577
1,759
8,887
1,200
11,846
239,818
(24,467)
13,681
229,032
2020
Total
£
40,430
5,850
228
14,297
8,168
17,281
13,867
2,990
3,463
3,645
7,006
474
760
177
2,526
2,000
1,356
9,807
8,231
142,556

8

Registered Charity No: 1113679

DESTINY TEMPLE

Reports and Accounts Year ended: 31ST MARCH 2021

AL Accounting Solutions Limited Chartered Certified Accountants 21A Brighton Road South Croydon Surrey CR2 6EA

DESTINY TEMPLE Reports and Accounts Contents

Page No
1 Legal and administrative information
2-3 Trustees Report
4 Independent Examiner's Report to the Trustees
5 Statement of Financial Activities
6 Balance Sheet
7-8 Notes forming part of the financial statements