DESTINY TEMPLE Reports and Accounts for the year ended 31ST MARCH 2023
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 Rev George Obare
Registered charity number
1113679
Registered office Destiny Temple and operations Worcester Street Gloucester GL1 3AS
Email address
info@destinytemple.com
Bankers
Natwest Bank
Accountant
AL Accounting Solutions Chartered Certified Accountants 21A Brighton Road South Croydon Surrey CR2 6EA
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DESTINY TEMPLE Reports and Accounts for the year ended 31ST MARCH 2023 Trustees Report
The trustees presents its annual report and the unaudited financial statements for the period.
The year was themed “Build to Last”. We started the year with great faith and excitement as we step into a season of being fruitful in the kingdom of God. We encountered challenges and great success during this year.
Challenges Faced:
Attendance : Our church attendance has increased compared to the previous years but lacked consistency. As we go to the new year, we will strategically and intentionally encourage all parishioners to be consistent in church attendance.
Finances : The impact of post Covid on our finances is still there and we believe that next year things will settle and grow again.
Staffing : We are still short staffed, and we look forward to adding more staff next year.
Successes Achieved:
Attendance increase : After the struggles of post covid, the church attendance is now on the rise. We have seen increase both in house and online during our services. The Connect groups are growing on a weekly basis and we are grateful.
Volunteers : The volunteers who serve in the Teams and different departments has increased in number and commitment in serving. The teams have served greatly with excellence.
Conference : Destiny Conference was well attended for the three days in the month of August. We thank God for the grace to be fruitful and the release of a new sound from heaven of revival in our church and city.
Carol service :This year’s carol service was the best we have had so far. The Destiny Worship team and the Destiny Children staged a great and excellent production that combined nativity scenes, bible quizzes, and well-polished Christmas carol songs.
Welfare : Amid financial challenges, we still sacrificed and ministered 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. Teens : This year we had a high increase of teenagers who have joined our church.
We also doubled the number of teens who went for the Christian youth camp during summer. Building : We managed to do some renovation and maintenance work on our church premises.
We also built a state-of-the-art stage that can be used during the services or concerts or any production.
We look forward to a new year of themed “Establishing Lasting Foundation”. We believe amid everything going on, we shall encounter a great overflow.
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DESTINY TEMPLE Reports and Accounts
for the year ended 31ST MARCH 2023
Trustees Report contd…
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)
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DESTINY TEMPLE Reports and Accounts
for the year ended 31ST MARCH 2023 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:
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the accounting records were not kept in accordance with section 130 of the Charities Act; or
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the accounts did not accord with the accounting records; or
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the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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.....................................................
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DESTINY TEMPLE Reports and Accounts
Statement of Financial Activities (including Income and Expenditure Account) for the year ended 31ST MARCH 2023
| Unrestricted Funds Notes £ Incoming resources: Voluntary Income 3 94,328 Gift Aid claims 18,131 Grant received - Bank interest received 1 Total Incoming resources 112,460 Resources Expended Resources Expended 6 112,395 Total resources expended 112,395 Net Surplus / (Deficit) for the year 65 Opening Funds 307,829 Closing Funds 307,894 |
Total Total Funds Funds 2023 2022 £ £ 94,328 81,735 18,131 22,204 - 21,084 1 - 112,460 125,023 112,395 119,028 112,395 119,028 65 5,995 307,829 301,834 307,894 307,829 |
|---|---|
No restricted funds at the end of the year
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DESTINY TEMPLE Reports and Accounts
Balance Sheet as at 31ST MARCH 2023
| 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 |
£ £ 120,000 350,000 470,000 24,947 27,452 52,399 892 (4,801) (3,909) (210,596) 307,894 307,894 307,894 2023 |
2022 £ 120,000 350,000 470,000 26,260 30,665 56,925 8,736 (8,626) 110 (219,206) 307,829 307,829 307,829 |
|---|---|---|---|
Accounts signed on behalf of the Board of trustees
……………………………….
Date ……………………………….
Bishop George Obare
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DESTINY TEMPLE Reports and Accounts
Notes forming part of the financial statements for the year ended 31ST MARCH 2023
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%
- Plant & Machinery 20%
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.
f) Restricted funds are to be used for specific purposes as laid down by the donor.
2. Other Tangible Fixed Assets
| Other Tangible Fixed Assets | ||
|---|---|---|
| Building Improvement £ Cost: As at 1 April 2022 37,065 Additions - As at 31ST MARCH 2023 37,065 Depreciation/Amortisation: As at 1 April 2022 10,805 Charge 1,313 As at 31ST MARCH 2023 12,118 Net Book Value: As at 31ST MARCH 2023 24,947 As at 1 April 2022 26,260 |
Plant & Machinery £ 122,108 3,650 125,758 91,443 6,863 98,306 27,452 30,665 |
Total £ 159,173 3,650 |
| 162,823 | ||
| 102,248 8,176 |
||
| 110,424 | ||
| 52,399 | ||
| 56,925 |
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DESTINY TEMPLE Reports and Accounts
Notes forming part of the financial statements for the year ended 31ST MARCH 2023
| 3. Voluntary Income Tithe & offerings Partners donation Other donations 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 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 Telephone & internet Printing, postage & stationery Sundry expenses Legal & professional fees Bookkeeping & accountancy fees Bank charges & Credit card interest Depreciation Total |
2023 £ 87,538 1,678 5,112 94,328 9 3,592 1,200 4,801 219,206 . (24,452) 15,842 210,596 2023 Total £ 56,996 1,050 1,559 3,667 15,842 - 5,985 3,040 6,821 2,080 771 - 1,759 2,844 1,392 413 8,176 112,395 |
2022 £ 61,050 1,045 19,640 81,735 2,685 4,441 1,500 8,626 228,741 (12,193) 2,658 219,206 2022 Total £ 72,824 840 2,617 351 2,658 6,978 4,065 4,039 3,828 2,748 1,040 344 3,317 1,979 2,014 338 9,048 119,028 |
|---|---|---|
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Registered Charity No: 1113679
DESTINY TEMPLE
Reports and Accounts Year ended: 31ST MARCH 2023
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 |