NEW LIFE FOR ALL NATIONS GOSPEL CHURCH
FINANCIAL REPORT FOR THE YEAR ENDED 30 NOVEMBER 2020
NEW LIFE FOR ALL NATIONS GOSPEL CHURCH
INCOME & EXPENDITURE STATEMENT
FOR THE YEAR ENDED 30 NOVEMBER 2020
| Income Administrative Expenses Net Income surplus for the year Net surplus brought forward Net surplus carried forward |
2020 95,755 -77,410 |
|
|---|---|---|
| 18,345 22,242 |
||
| 40,587 |
The principal activities of New Life For All Gospel Church is the provision of extensive ranges of spiritual and religious charitable services , and intends to do so more extensively in the years to come
It is the Trustee's responsibility to ensure the financial statements prepared give a true and fair view of the state of affairs of the church as at the end of the Financial year, and the surplus/deficit for the year; and in addition, reasonable and prudent judgements and estimates have been used in the preparation of the accounts
Trustees
Ms Sarah Olaleye Mr Aayomi Durojaiye Mrs Folashade Davies Mrs Oluwatoyin Dada Pastor Israel O Pelumi Mr Lawrence Mbala Ms Oluwatoyin Ajimate Mr Diekola Oladele
NEW LIFE FOR ALL NATIONS GOSPEL CHURCH
BALANCE SHEET AT 30 NOVEMBER 2020
| Fixed Assets Current assets: Debtors Cash in hand and bank Current liabilities: Accruals and trade creditors Represented by: Unrestricted reserves b/f Income surplus for the year |
- 23,711 |
2020 18,456 22,131 |
|
|---|---|---|---|
| 23,711 -1,580 |
|||
| 40,587 | |||
| 22,242 18,345 |
|||
| 40,587 |
NEW LIFE FOR ALL NATIONS GOSPEL CHURCH
INCOME & EXPENDITURE STATEMENT
FOR THE YEAR ENDED 30 NOVEMBER 2020
NOTES TO THE ACCOUNT
1 Accounting Policies
a) Basis of Accounting
The financial statements have been prepared under the historical cost convention
| 2 Debtors Rent deposit Prepayment 3 Creditors Amount falling due within one year: Trade creditors Bank overdraft Accruals and creditors |
2020 - - |
|
|---|---|---|
| - | ||
| - - 1580 |
||
| 1,580 |
- 4 Charitable registration The organisation is a registered charity and with the Charity Commission registration no. 1116758
5 Historical Cost Profit and Loss
All assets are stated in the financial statement as historical cost.
Therefore no adjustments are required to the reported profit which is stated on an unmodified historical cost basis.
NEW LIFE FOR ALL NATIONS GOSPEL CHURCH
STATEMENT OF INCOME AND EXPENDITURE FOR THE YEAR ENDED 30 NOVEMBER 2020
| Income: Council grant Tithes and offerings Other income - gift aid Less: Administrative expenses Honoraria and gifts to missions Evangelism Benevolence and love gifts Rent Rates Light and heating Repairs and maintenance Printing, postage and stationeries Legal and professional fees Telephone and internet Motor and travelling Accountancy Depreciation Lease written off Members welfare and PPE Net surplus for the year |
8,965 2,800 35,800 10,878 220 984 2,387 278 1,290 1,295 1,046 750 1,637 500 8,580 |
2020 10,000 79,781 5,974 |
|
|---|---|---|---|
| 95,755 -77,410 |
|||
| 77,410 | |||
| 18,345 |
Signed by
Mrs Oluwatoyin Dada Trustee
Mr Lawrence Mbala Trustee
NEW LIFE FOR ALL NATIONS GOSPEL CHURCH
STATEMENT OF INCOME AND EXPENDITURE FOR THE YEAR ENDED 30 NOVEMBER 2020
COMPILATION REPORT TO TRUSTEES OF THE CHURCH
We have examined the Accounts on pages 1 according to Accounting principles of un-audited financial statement.
We report that the accompanying Financial Statements have been compiled from records kept by the church and information supplied by the Trustees.
We have not audited the accounts and accordingly, do not express an opinion or any other form of assurance.
ALLY BOATMAN COLLINS (ACCOUNTANTS) 62 BEECHWOOD ROAD LONDON E8 3DY
30-Jul-21
NEW LIFE FOR ALL NATIONS GOSPEL CHURCH
STATEMENT OF INCOME AND EXPENDITURE FOR THE YEAR ENDED 30 NOVEMBER 2020
SHEDULE OF FIXED ASSETS
| NBV at 1 December 2019 Addition during the year Depreciation year charge NBV c/f at 30 November 2020 |
Furniture & fittings 3,046 3,500 6,546 -1,637 |
Leasehold Property 7,500 7,500 -500 7,000 |
Total 10,546 3,500 |
||
|---|---|---|---|---|---|
| 14,046 -2,137 |
|||||
| 11,456 | 18,456 |