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|||||Page|
|---|---|---|---|---|
|Reference and administrative
advisers|details ofthe Charitable|Company,|its Trustees and||
|Trustees'
report||||2-5|
|Independent
examiner's
report||||6-7|
|Statement
offinancial
activities|||||
|Balance sheet||||9-10|
|Statement ofcash flows|||||
|Notes to the financial statements||||12-28|
|REFERENCE AND|REFERENCE AND|REFERENCE AND|ADMINISTRATIVE|DETAILS OF THE CHARITABLE COMPANY, ITSTRUSTEES AND|DETAILS OF THE CHARITABLE COMPANY, ITSTRUSTEES AND|
|---|---|---|---|---|---|
||||||ADVISERS|
||||FOR THE YEAR ENDED 31 MARCH 2022|||
|Trustees|||Pastor Olajide|Joseph|Omotayo|
||||Mr Jacob Babatunde
Abegunde|||
||||Mrs Flora Desks Nwikpo|||
||||Mrs Abosede|Owoyele||
|Company||registered||||
|number|||04376232|||
|Charity registered||||||
|number|||1117479|||
|Registered||office|Rear of 31 - 33 High Road|||
||||Chadwell
Heath|||
||||Romford|||
||||Essex|||
||||RM6 6QJ|||
|Minister|In Charge||Pastor Chuka|Nwafor||
|Accountants|||Stephen
Michael Associates|||
||||Chartered
Cerffied Accountants|||
||||201 Borough|High Street||
||||London|||
||||SE1 1JA|||
|Bankers|||Barclays Bank PLC|||
||||1 - 2 Trinity Way|||
||||Chingford|||
||||London|||
||||E4 STD|||
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|||||Restricted|Unrestricted|Total|Total|
|---|---|---|---|---|---|---|---|
|||||funds|funds|funds|funds|
|||||2022|2022|2022|2021|
||||Note|5|F|F|5|
|Income from:||||||||
|Donations
and|legacies|||5,785|217,424|223,209|304,111|
|Investments|||||84,015|84,015|84,837|
|Total income||||5,785|301,439|307,224|388,948|
|Expenditure
on:||||||||
|Charitable
activities||||5,785|256,964|262,749|317,788|
|Total expenditure||||5,785|256,964|262,749|317,788|
|Net movement|in funds||||44,475|44,475|71,160|
|Reconciliation|offunds:|||||||
|Total funds
brought||forward||10,264|942,463|952,727|881,567|
|Net movement|in funds||||44,475|44,475|71,160|
|Total funds carried forward||||10,264|986,938|997,202|952,727|
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|||||||2022||2021|
|---|---|---|---|---|---|---|---|---|
|||||Note||F|||
|Fixed assets|||||||||
|Tangible assets||||||1,287,230||1,319,425|
|||||||1,287,230||1,319,425|
|Current assets|||||||||
|Debtors||||12|103,892||100,130||
|Cash at bank and|in|hand|||262,355||255,580||
||||||356,247||355,710||
|Creditors: amounts||falling due within one|||||||
|year||||13|(64,657)||(101,127)||
|Net current assets||||||291,590||254,583|
|Total assets less|current liabilities|||||1,578,820||1,574,008|
|Creditors: amounts
than one year||falling due after more||14||(581,618)||(621,281)|
|Net assets excluding|||pension asset|||997,202||952,727|
|Total net assets||||||997,202||952,727|
|Charity funds|||||||||
|Restricted funds||||16||10,264||10,264|
|Unrestricted
funds||||16||986,938||942,463|
|Total funds||||||997,202||952,727|
##
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||||STATEMENT OF CASH FLOWS|STATEMENT OF CASH FLOWS|||
|---|---|---|---|---|---|---|
|||FOR THE YEAR ENDED 31 MARCH 2022|||||
||||||2022|2021|
||||||6|6|
|Cash flows from operating||activities|||||
|Net cash used
in operating|activities||||44,205|198,819|
|Cash flows from Investing||activities|||||
|Purchase
oftangible
fixed assets|||||(7,767)|(8,954)|
|Net cash used
in investing||activities|||(7,767)|(8,954)|
|Cash flows from financing||activities|||||
|Repayments
of borrowing|||||(39,663)|(43,464)|
|Net cash used
in financing||activities|||(39,663)|(43,464)|
|Change
in cash and cash||equivalents|in the year||(3,225)|146,401|
|Cash and cash equivalents||at the beginning||ofthe year|255,580|109,179|
|Cash and cash equivalents||at the end of||the year|252,355|255,580|
|The notes on pages 12 to 28 form part|||ofthese financial statements||||
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||Restricted|Unrestricted|Total|
|---|---|---|---|
||funds|funds|funds|
||2021f|2021f|2021f|
|Donations|6,481|211,325|217,806|
|Grants|86,305||86,305|
||92,786|211,325|304,111|
##
|||||||Unrestricted|Total|
|---|---|---|---|---|---|---|---|
|||||||funds|funds|
|||||||2022f|2022f|
|Investment|income|-|local|investment|properties|84,000|84,000|
|Investment|income|-|local|cash||15|15|
|||||||84 015|84015|
|||||||Unrestricted|Total|
|||||||funds|funds|
|||||||2021f|2021f|
|Investment|income|-|local|investment|properties|84,000|84,000|
|Investment|income|-|local|cash||837|837|
|||||||84,837|84,837|
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|||Donations||
|---|---|---|---|
|||to|Total|
|||Institutions|funds|
|||2022
f.|2022f|
|United|Kingdom|57,467|57,467|
|||Donetions
to|Tote/|
|||institutions|funds|
|||2021f|2021f|
|United|Kingdom|56,895|56,895|
##
||||Restricted|Unrestricted|Total|
|---|---|---|---|---|---|
||||funds|funds|funds|
||||2022
f|2022
f|2022f|
|Advancement|of Christian|Faith|5,785|235,685|241,470|
|Love Your Neighbour||||21,279|21,279|
||||5,785|256,964|262,749|
||||Restricted|Unrestricted|Total|
||||funds|funds|funds|
||||2021f|2021|2021f|
|Advancement|of Christian|Faith|15,802|213,134|228,936|
|Love Your Neighbour|||86,305|2,547|88,852|
||||102,107|215,681|317,788|
##
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##
||||Activities|Donation|||
|---|---|---|---|---|---|---|
||||undertaken|funding
of|Support|Total|
||||directly
2022|activities
2022|costs
2022|funds
2022|
||||F|6|6|6|
|Advancement|of Christian|Faith|135,897|57,467|48,106|241,470|
|Love Your Neighbour|||21,279|||21,279|
||||157,176|57,467|48,106|262,749|
||||Activities|Donation|||
|---|---|---|---|---|---|---|
||||undertaken|funding
ot|Suppod|Total|
||||dliectty
2021f|ectivities
2021f|costs
2021
6|funds
2021|
|Advancement|of Christian|Faith|135,414|56,895|36,627|228,936|
|Love Your Neighbour|||88,852|||88,852|
||||224,266|56,895|36,627|317,788|
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||||Advanceme|||
|---|---|---|---|---|---|
||||nt of|||
||||Christian|Love Your|Total|
||||Faith|Neighbour|funds|
||||2022|2022|2022|
||||6|6|6|
|Staff costs|||9,601||9,601|
|Depreciation|||36,747||36,747|
|Ministerial|expenses||12,110||12,110|
|Premises|expenses||44,539||44,539|
|Communication||costs|5,109||5,109|
|Travel and|motor expenses||5,496||5,496|
|Love Your|Neighbour|||21,279|21,279|
|Finance costs|||22,295||22,295|
||||135,897|21,279|157,176|
||||Advancemen|||
||||tofChristian|Love Your|Tote/|
||||Faith|Neighbour|funds|
||||2021f|2021|2021|
|Staff costs|||3,635||3,635|
|Depreciation|||35,298||35,298|
|Ministerial|expenses||3,893||3,893|
|Premises expenses|||42,208||42,208|
|Communication||costs|8,205||8,205|
|Travel and|motor expenses||5,553||5,553|
|Donations|and gifts|||88,852|88,852|
|Finance costs|||36,622||36,622|
||||135,414|88,852|224,266|
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|||||||Advanceme||
|---|---|---|---|---|---|---|---|
|||||||nt of||
|||||||Christian|Total|
|||||||Faith|funds|
|||||||2022|2022|
|||||||5|F|
|Depreciation||||||3,215|3,215|
|Music and|equipment|||||2,336|2,336|
|Welfare||||||7,105|7,105|
|Premises|expenses|||||5,591|5,591|
|Communication|||costs|||7,518|7,518|
|Travel and|motor expenses|||||1,252|1,252|
|Professional||8|consultancy||fees|1,610|1,610|
|Bank charges||||||2,499|2,499|
|Expensed
Donations|equipment
and gifts|||and furniture||5,511
8,169|5,511
8,169|
|Governance||costs||||3,300|3,300|
|||||||48,106|48,106|
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|||||Advancemen||
|---|---|---|---|---|---|
|||||tofChristian|Total|
|||||Faith|funds|
|||||2021
6|2021f|
|Depreciation||||3,921|3,921|
|Music and equipment||||7,546|7,546|
|Premises expenses||||4,890|4,890|
|Communication|costs|||1,055|1,055|
|Travel and motor expenses||||617|617|
|Professional
&|consultancy||fees|1,867|1,867|
|Sundry church|expenses|||226|226|
|Bank charges||||2 131|2,131|
|Expensed
equipment||and furniture||5,261|5,261|
|Donations
and|gifts|||5,813|5,813|
|Governance
costs||||3,300|3,300|
|||||36,627|36,627|
##
||||||||||2022|2021|
|---|---|---|---|---|---|---|---|---|---|---|
||||||||||E|6|
||Fees payable to the Charitable|||Company's|independent|examiner||for the|||
||independent|examination|and|preparation|ofthe Charitable||Company's||||
||annual accounts||||||||3,300|3,300|
|9.|Staff costs||||||||||
||||||||||2022
E|2021f|
||Wages and salaries||||||||9,601|3,635|
||||||||||9,601|3,635|
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||||Long-term|||||
|---|---|---|---|---|---|---|---|
|||Freehold|leasehold||Motor|Office||
|||property
f|property|f|vehicles
f|equipment
f|Total
f|
||Cost or valuation|||||||
||At 1 April 2021|1,506,004|187,370||26,750|79,200|1,799,324|
||Additions|||||7,767|7,767|
||At 31 March 2022|1,506,004|187,370||26,750|86,967|1,807,091|
||Depreciation|||||||
||At 1 April 2021|360,840|33,723||22,553|62,783|479,899|
||Charge for the year|30,120|3,747||1,049|5,046|39,962|
||At 31 March 2022|390,960|37,470||23,602|67,829|519,861|
||Net book value|||||||
||At 31 March 2022|1,115,044|149,900||3,148|19,138|1,287,230|
||At 31March 2021|1,145,f54|153,647||4,197|16,417|1,319,425|
|12.|Debtors|||||||
|||||||2022f|2021|
||Due within one year|||||||
||Trade debtors|||||2,311|2,311|
||Other debtors|||||41,488|66,099|
||Tax recoverable|||||60,093|31,720|
|||||||103,892|100,130|
##
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##
|||2022
5|2021f|
|---|---|---|---|
|Bank overdrafts||3,956||
|Bank loans||46,224|46,224|
|Other loans||||
|Trade creditors||3,879|1,603|
|Accruals and deferred|income|10,599|3,300|
|||64,657|101,127|
##
|2022|2021|
|---|---|
|F||
|581,618|621,281|
##
|Financial|instrum|ents||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||||||2022
6|2021f|
|Financial|assets|||||||||||
|Financial|assets|measured|at|fair|value|through|income|and|expenditure|252,355|255,580|
##
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##
||||||Balance at|
|---|---|---|---|---|---|
|||Balance at|||31March|
|||1Apri1 2020
f|Income
f|Expenditure
f|2021|
|Unrestricted
funds||||||
|General Funds - all funds||842,397|296,162|(196,096)|942,463|
|Restricted funds||||||
|Love Your neighbour|||86,305|(86,305)||
|Building
fund|||5,641|(5,641)||
|5and2||13,256||(2,992)|10,264|
|Club V (Youth Project)||93||(93)||
|TW
EM||270|840|(1,110)||
|Ebube Life fund||570||(570)||
|Africa Life Development|Program|12,101||(12,101)||
|Kingdom
Kids||1,039||(1,039)||
|Altar ofGrace||5,247||(5,247)||
|Lahore Belivers Aid Group||6,374||(6,374)||
|Sanctuary
Team||220||(220)||
|||39,170|92,786|(121,692)|10,264|
|Total offunds||881,567|388,948|(317,788)|952,727|
##
##
|Summary|offunds - current year|||||
|---|---|---|---|---|---|
||||||Balance at|
|||Balance at 1|||31 March|
|||April 2021|Income|Expenditure|2022|
||||E|E|E|
|General funds||942,463|301,439|(256,964)|986,938|
|Restricted|funds|10,264|5,785|(5,785)|10,264|
|||952,727|307,224|(262,749)|997,202|
|Summary|offunds - prior year|||||
||||||Balance et|
|||Belence el|||31March|
|||1 April 2020f|Income|Expendituref|2021|
|General funds||842,397|296,162|(196,096)|942,463|
|Restricted|funds|39,170|92,786|(121,692)|10,264|
|||881,567|388,948|(317,788)|952,727|
|Analysis|of n|et assets between funds - current|year|||
|---|---|---|---|---|---|
||||Restricted|Unrestricted|Total|
||||funds|funds|funds|
||||2022|2022|2022|
||||E|E|E|
|Tangible|fixed|assets||1,287,230|1,287,230|
|Current|assets||10,264|345,983|356,247|
|Creditors|due|within one year||(64,657)|(64,657)|
|Creditors|due|in more than one year||(581,618)|(581,618)|
|Total|||10,264|986,938|997,202|
##
##
##
|Analysis of net assets between funds -prior ye|ar|||
|---|---|---|---|
||Restricted|Unrestricted|Total|
||funds|funds|funds|
||2021f|2021|2021f|
|Tangible fixed assets||1,319,425|1,319,425|
|Current assets|10,264|345,446|355,710|
|Creditors due within one year||(101,127)|(101,127)|
|Creditors due in more than one year||(621,281)|(621,281)|
|Total|10,264|942,463|952,727|
##
|Reconciliati|on
of n|et movement|in funds to net cash flow from opera|ting
activities||
|---|---|---|---|---|---|
|||||2022
F|2021f|
|Net income|for the year (as per Statement of Financial Activities)|||44,475|71,160|
|AdJustments|for:|||||
|Depreciation|charges|||39,962|39,219|
|Decrease/(increase)||in debtors||(3,762)|88,528|
|Decrease
in|creditors|||(36,470)|(88)|
|Net cash provided||by operating|activities|44,205|198,819|
|||2022|2021|
|---|---|---|---|
|||6||
|Cash|in hand|252,355|255,580|
|Total|cash and cash equivalents|252,355|255,580|
##
##
||||||At 1 April||At 31 March|
|---|---|---|---|---|---|---|---|
||||||2021|Cash flows|2022|
||||||f|F|f|
|Cash|at bank and||in hand||255,580|(3,225)|252,355|
|Bank|overdrafts|repayable||on demand||(3,955)|(3,955)|
|Debt|due within|1|year||(96,224)|50,000|(46,224)|
|Debt|due after 1 year||||(621,281)|39,663|(581,618)|
||||||(461,925)|82,483|(379,442)|
|||||||2022f|2021f|
|---|---|---|---|---|---|---|---|
|Amounts
owed by Resurrection
other debtors (Note 12)||I|ife Centre to|the charitable|company - in|28,534|18,867|
|Rent receivable|from Resurrection||Life Centre|Ltd (see note|4)|84,000|84,000|