CALVARY MINisfRIES WORLDWIDE Charfty No. 1119161 Tru5tee< Report and Unauthted Accounts 31 Mwth 2021
Contents Independent Examiners Report Trustee5 Annual Rew)rt Statement of Financial Acttvtties Balance Sheet Detailed Statement of Finèncial Activities Note5 to the A£c(wnts....-..... . .1-6
CALVARY MINISTIUES WORLDWIDE TRUSTFES REPORT ST FOR THE YEAR ENDED 31 MARCH 2021 Name: Calvary Ministries Worldwide Address: Clo P&stor Olutayo Ayod¢l@ RCCG (Sanctuary Parish), Grove Crescenl Stratford. E15 IBJ Chari Number. 1119161. Inland Revenue Number. xr 4221 Trnstees l. O. Ayodele. 2. 0. OluglKMJi' 3. 0. Adams" 4. S. Fatunw&she" 5. S. Kputu Ac¢ount2nts Surrey Book-keeping Services Ltd 3 Floor, Paul Street London, England EC2A 4NE Bankers Barclays Bank Reading 2 Branc 90-93 Broad Street. Reading. RGI 2AP Activities: - Mr. Kola Kehinde. the Secretary, continued with the work from the n¢w ministy base in the West Midlands reaching out (with his team of staff-volunteets) to our increasing number of volunteers prayer groups, churches et¢. both in the Midlands and acro&s the United Kingdo Work continued along the defmed ministry thrusts planned: The training manuals are now being teste<L finetuned and packaged. b. The Du(lley chapter h&s continued nestlY building up for Kingdom capacity. Training for Chapter meME and partners is still being done. d. We weie slowed down in delivering the Trauma Healing & Marriage Counselling to Churches etc. by the COVtD-19 Pandemic but it b&s ptoved to become an avenue to help prepare people for dcaling with th¢ em¢i8in¥ tsautlla in the face of a lot of catastrophe all around. The online prayer initiatives continue to flourish for and volunteers to meet and pray for the work and vaTiOUS nations. The COVID-19 Pandemic tmjosted thi5 during this period. We continued voluntary work with various groups and churches to feed the homeless every week and work with tbem to meet various other needs. ThÉs w&s however stoptd by the Panden]ic lockdown later in the year. Our networks in Birmingham and Dudley are&s and Iwond have kept expanding. even into Europe. Ls we kept offering ourselves to help within the communities around and kyond 8. We continued to make efforts to buy an operational Ministy base. but we did not achieve this in the year. We are trusting God to help us with this acute need in the Dext financial year. We know tbis 11 ease a lot of financial burdens of having to keep hiring hot¢ls when we need to bring togeth¢r different tople foT mentoring (including youths & young adults, singles and married etc.).
EurAsiAP- The Internalional Office h&s mandated CAPRO UK to extend its oversight to Europe, Asi Australii and the Pacific Islands. To this end. we are enlarging and strengthening the work in the UK and other sister Calvary Ministries charities in France and Ihe Republic of Ireland to enable this push. We wryll still be engaged with these: _ a. Working with youths and children for discipleship and early help in the face of curr¢nt crisis e.g. knife crimes etc. b. Raising multi-cultural teams rdther than the current mono-cultural one. Bi-vocational appmach to missions. in tune with our contexL d. Repackaging Training modules to make it more altractive and culturally sensitive to all. Evolve training models to enable the ideology in 'c" aVe. Explore other training facility options while developing the Training Packages. ¢.g. use of unusedlunderutilised Church facilities available initially rather than focus mainly on getting candidates into a residential b. CIIPRO UK as a Sending Country and Regional office= W¢ have begun to evolve new stntureS to be able to ¢ater for this enlargement project itrto Europe. Asi4 Australi4 and the Pacific Island5. Th¢se include: Mobilisation to incre&s¢ staff capacity and develop a more mbust volunteer policy. b. Develop a Training model with the cuTrent 'lrreducible minimum. CAPRO International model in view, for our missionary training. This done with care not to reduce quality whilst putting the cultlwal context in view also. Bi-votational mission work: has now taken off and we have begun to encourage working professionals into Mark¢tPlace ministry in our mobilisation. We continue to engage with our II churches to boost community engagement at various levels. One of our staff (a trained counsellor). continues to volunteer in Individual and Relationship Counselling. Others, as well as our partners across the nation, also work with their various churches to deliver all nwmer of needed interventiolls through the churches into their various conllnunities. The annual Discipleship and Missions Conference 2020 twk place online. for tbe fit time, due to the COVID-19 pandemic. It w&s very well attended by all our members from across the county and beyond. The theme was 'Understanding th¢ times... So what?. and our main speaker w&s our fomier International Director, Sam KputtL Our volunteers and partners have continued in their consistent prayers, giving and tireless service for the growth of the work. The Chapter members still meet r¢gularly in some toNvns/cities and more are actively participating in church leadership or outreach activities such as youth and children worL discipleship teachings, comtllunity engagements and evangelism through their churches. We remain grateful to them i. Our quest for buying a propety for the growing work is still ongoing. W¢ continue working with our parlners to Taise more resources for this purwse. We want to be more available to our peopl¢ 2nd increase our outreach within our community. We hope to wotk more earnestly on this in the new year. We have Continued to keep up with our obligations to the donors by keeping in touch with them aDd offering infomiation concerning their donations. We continue to ensure that all designated (restricted) funds goi to all the right recipients in their various countries. We have facilithted closer contact between donors and the voluntsry workers they support as much as px)ssible. W¢ followed up with our offices in each of the Countries the global Ministries work to ensure resources ate utilized as designated by the donors. W¢ were able to visit only Nigeria because of the prevailing COVID-19 Pand¢mic. We however
kept in touch with all our parthets and sister agencies througb Online conferencing platfOrn. We also continued the fortiiightly online Peer-mentorsbip Programmes with our colleagues tn Australi& We taught Discipleship, Introduction to Missions and Holin¢ss. Holy Spirit and Prayer in Missions online by ZOOM in various pla¢¢s across Englan(L S¢otlan(L Northern Ireland and in Polan Romani4 and Gernmny. We also mentored vaTiOUS people and groups across the world on diverse online plarfornis. We facilitated successful Trnuma Healing trainings in the Ullited Kingdom and the Republic of Ireland and some that ran across the world. The projects and Voluntee we have managed to support are in the following countries: Niger Republic, Nigeri cam¢roU South Afric4 Benin Republic, South su Gambi4 Liberi4 United Kingdom. Guine4 Tanzani4 Togo. Mozambique. Senegal, Botswan4 Bun Rwand4 Madagascar, Mauritania and Kenya. Monies sent to different pIC in the above countries have been used for vaTiOUS projects lch include: prostitute rehabilitatiow orphall care, training of adults &s well as children's schi)oling. medical and general welfare of volunteers. accomtnodation for volunteeTS etc. Most of the income is designated from source and we have kept faithfill lo our partsiers and suptxirters in ensuring their moni¢s were speDt as designated. Policies- We have continued uplating all our wlicie& Trustees? Meetin The TnteeS met on the 30th of May 2020 and th¢ 14 ofNovemkr 2020. The meetings were well attended by the Trustees. All tbe trustees have continued to work hard to move the Clwity forward. There w¢r¢ oth¢r ad-hoc meetings during the year. The Trustees are pleased with this year's developments and look to God to continue pursuing the following directions in the New Year (202112022)- Further extension of our SUprt b&se Increased discipleship and mission trainings in churches iyond our current reach Increasing the prayer gmup b&8e Iyond present frontiers Plan small but strategic mission conferences in other cities and towns in the UK. Send EKople especially donors and partners on field trips and work camps to visiL engage with, PTay and support outreach work outside the UK. Networking fiher with the work in other are&s of Europe e.g. Republic of IrelanQ Belgiu and France where we already have volunteers. Also build capacity in Poland and Gennany Working with the Church in outreach 2nd discipleship among young people as well as adults in the UK. Set up a virile Sending and Coordination for the work of the EurAsiAP (Europe, Asi& and Pacific) R¢gion.
CALVARY MINisfRIES WORLDWIDE Statement of Flnancial Activities for the year ended 31 Marth 2021 d funds 2021 nds Totsl funds Totsl funds 2020 2021 20Zi Income and endowments from: Donations and legacies Investments 14.824 129318 144.142 144,046 235 Other 1,729 1.729 72 Total 16.553 129.318 145,871 144,353 Expenditure on: Charitable attrvities Other 120.195 120.195 13,799 92.025 17,145 13,799 Total 13.799 120.195 133,994 109.170 Net gains on investments Net income 2.754 9.123 11,877 35,183 Transfers between fvnds Net Income before other galnsl{lossesl 2.754 9.123 11.877 35,183 Other galns and losses Net movement in funds 2.754 9,123 11.877 35,183 Reconciliatlon of funds: Total fiinds brought foThvard 70.698 24.598 95.296 60.113 Total funds carrled forward 73.452 33.721 107.173 95,296 Page 4 Surw Book.Keeping SeThkes Ltd
CALVARY MINlSfRIES WORLDWIDE Balance Sheet at 31 March 2021 Charity No. 1119161 2021 2020 Current assets Cash at bank and in hand 107,173 107.173 107,173 95,296 95,296 95,296 Net current assets Totsl assets less current liabilllies Net assets exduding pension asset or liability 107,173 95.296 107.173 95,296 Totsl net assets 107.173 95,296 The funds of the charity Restrirted funds Restrirted income funds io 33.721 33,721 24.598 24,598 Unrestrirted funds General funds Designated funds io 70.698 2,754 70,698 73.452 70.698 Reserves io Total funds 107.173 95,296 Approved by the trustees on 30 January 2022 And signed on their behalf by: O. Ayodele Trustee 30January 2022 Page 5 Jrrey 8ook-Keeping Seryices Ltd
CALVARY MINISTRIES WORLDWIDE Detailed Statement of Finanaal Activitiés for the year ended 31 March 2021 Unrestricte Restrirted d funds funds Total funds Total funds 2021 2021 2020 2021 Incorne and endowments from: Donations and legacies 14,824 14,824 129,318 144.142 39.609 104,437 144.046 129.318 129.318 14.824 Investments Bank Interest 235 235 Other Sundry Income 1.729 1,729 1.729 1,729 72 72 Totsl income and endowments 16.553 129.318 145,871 144,353 Expenditure on: Charitable activit5 Outreach 120.195 120,195 120.195 120,195 92.025 92,025 Total of expenditure on charitsble artivitie5 120,195 120.195 92,025 Employee costs Staff training Staff welfare 495 95 495 922 95 165 590 590 1,087 Motor and travel costs Travel and subsistence 3,124 3.124 3.124 3.124 5.342 5,342 General administrative costs. including depreciation and amortisation Bank charges Equipment expensed General insurances Information and publications Postage and courier5 Software. IT support and related cost5 l.(K)2 I.2 819 871 653 653 560 38 38 754 416 416 613 2.523 2,523 Subscriptions Sundry expenses Telephone, fax and broadband 2,103 1.931 1,373 10,085 2,103 1.931 1,373 10.085 1,646 3,152 1,476 9,891 Page 6 Surrey Book-Keepin8 Services Ltd
CALVARY MINISTRIES WORLDWIDE Detalled Statement of Finanaal Activitles Legal and professional costs Auditllndependent examination fees 825 825 Total of expendlture of other costs Totsl expendlture Net gains on investments 13.799 13,799 17,145 13.799 120.195 133.994 109.170 Net Income 2,754 11.877 35,183 Net income before other galnsll105ses) Other Gains 9.123 11,877 35.183 2.754 Net movement in funds 2.754 9,123 11.877 35,183 Reconciliati¢)n of fvnth: Total funds brought fop*4ard 70,698 24.598 95.296 60,113 Total funds carrled fonmard 73.452 33.721 107,173 95.296 Page 7 Surrey Book.Keeping servi Ltd
CALVARY MINisfRIES WORLDWIDE Notes to the Accounts f(Y the year ended 31 March 2021 l Accounting policies Basis of preparation The financial statements have been prepared in accordance wtth Ststement of Recommended Prattice: Accounting and Reporting by Charities preparing their accounts in accordan with the Financial Reporting Standard applicable in the UK and Republic rf Ireland IFRS 1021 issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021 and the Charities Art 2011. Change in basis of aCCnting or to Pre accounts There ha5 been no change to the accounting poliaes {valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years. Fund accounting Unrestricted funds These are available for use at the discretion of the trustees in firrtherance of the general obietts of the charity. These are unrestricted fvnds earmarked by the trustees for particular purpose5. These are unrestricted funds which include a revaluation reserve representing the reststement of investment assets at their market values. These are available for use subject to restrittions imposed by the donor or through tenns of an appeal. Designated funds Revaluation fulld5 Restrirted funds Income Recognition of income Income is included in the Statement of Financial Activities ISOFAI when the charty becomes entitled to, and virtualty certain to recerve. the income and the amount of the income can be measured with suffictent reliability. Income with related Where income has lated expenditure the income and related expenditure is expenditure reported gross in the SOF Donations and legacies Voluntsry income receNed by way of 8fdnts. donations and gift5 is included in the the SOFA when receivable and onty when the Charrty has uncondrtional entitlement to the income. Tax reclaÈms on Income from tax reclaims is In¢ded in the SOFA at the same time as the donations and gFfts gift/donation to vthich it relate Donated services These a only included in income (with an equivalent amount in expenditure) and facilities where the benefft to the Chartty is reasonably quantlfiable, measurable and rnaterial. Volunteer help The value of any volunteer help recewed is not included in the attounts. Investment income This is included in the accounts when receivable. Gainslllossesl on This include5 any gain or10ss sUItIng from revaluing investments to market value revaluation of fixed atthe end of the year. assets Gainslllossesl on investrnent assets This Includes any gain or loss on the sale of investmen Page I
CALVARY MINisfRIES WORLDWIDE Notes to the Accounts Expendlture Recognition of expenditure Expenditure is recognised on an accruals basis. Expenditure indudes any VAT which cannot be fully recovered. and is reported as part of the expenditure to whith it relatss. Expenditure on These comprise the costs associated with attracting voluntary income. fundrdising raising ndS trading costs and investment management costs. Expendtture on These comprise the costs incurred by the Charity in the delrvery of it5 artivitie5 and charitable activities services in the furtherance of its obierts. includin8 the making of grants and governan cos All grant expendFture Is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid. These include those costs associated with meeting the constitutional and Statutory requirements of the Charity, including any èuditrindependent examination fees, costs linked to the strategK management of the Charity, together with a share of other administration costs. These are support costs not allcvted to a particular attp4ity. Grants payable Governance costs Other expendrture Taxation The charity is exempt from tsx on ts charitable activitie& Freehold Investmert property Investment properties are measured Initial at cost and subsequently at frdir value at each balance sheet date and are not depreciated. Al gains or losses are taken to the Ststement of Finanual Activities as they arise. Stocks Stock is included at the lower of cost or net realisable value. Donated items of stock are CogniSed at fair value which is the amount the charity would have been willing to pay for the items on the open market. Trade and other debtor5 Trade and other debtors are recognised at the settlement amount due after any trade discount offered. PrepaymenTS ère valued at the amount prepaid net of any trade dixounts due. Cash and cash equlvalents Cash and cash equNalents comprise cash at bank and on hand. demand deposits wtth banks and other short-temi highty liquid investments with orinal maturit5 of three months or less and bank overdrafts. In the statement of financial position, bank overdrdfts are shown within borrowings or current liabiltties. In the Statement of Cash Flows. cash and cash equivalents are shown net of bank overdrdfts that are repayable on demand and fomi an irjteEral part of the company's cash management. Trade and other (reditors Short terni credttors are measure(l at the transartion prite. Other creditors and provisions a recognised where the charity has a present obligatK)n resulting from a past event that will probabty result in the transfer of funds to a third party and the amount due to settle the obligation cèn be measured or estimated reliabty. Credttors and provisions are nonnally recognised at their settlement amount after allowing for any trade (liscounts due. Page 2
CALVARY MINISTRIES WORU)WIDE Notes to the Accounts Research and development Expenditure on research and development is written off in the year in whlch it is incurred. Foreign currendes Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period. Transartioris in currencies otherthan the funrtional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred. All exchange differences are are taken into account in arriving at net income/expenditure. Leased assets Where the charity enters into a lease which entails tsking substantial all the risks and rewards of ownership of an asset, the lease is treated as a finavtce lease. Leases which do not transfer substantially all the risks and rewards of ownership to chartty are classified as operatrng lease5. Assets held under finance leases are inwtially recognised as assets of the charity at their fair value at the inception of the lease or. rf lower. at the present value of the minimum lease payments. The corresponding liabilwty to the lessor is included in the balance sheet date as a finano lease obligation. Lease payments are apportioned between finance expenses and redUCtn of the lease obligation so as to achieve a constant rate of Inte5t on the remaining balance of the liabilty. Finance expenses are recognised immediately. unless they are directly attributable to qualtfying assets. in which case they are capitalised in accord3nce with the charty's policy on borrowing costs. Assets held under finance leases are depCiated in the same way a5 owned assets. Operating lease payments are recognised as an expense on a strdight-line basis over the lease term. In the event that lease incentives are received to enter into operatin8 leases, such incentives a recognised as a liabilty. The aggregate benefit of incentives is recognFsed as a re(luction of rental expense on a straight-line basis. Pension costs The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the charity pays fixed contributions into a separate entty- Once the contributions have been paid the chartty has no fijrther payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid Jre shown in accrLsals in the balance sheet. The assets of the plan are held separateiy from the charrty in independentl¥ administered funds. Receipt of donated good5, facilities and servi All donated goods. facilwties and servi5 received are recognised within incoming resource5 and expendwture at an estimate of the value to the charity. Page 3
CALVARY MINisfRIES WORLDWIDE Notes to the Accounts 2 Statement of financial Acti¥ltie5- pri(>r year Unrestrirted Restrfcted funds funds Total fund5 2020 2020 2020 Income and endowments from: Donations and legacies Investments Other 39,609 235 104,437 144,046 235 72 72 Total 39,916 104,437 144,353 Expenditure on: Charwtable activities Other 16.320 92.025 108,345 825 825 Total 17.145 92,025 109.170 Net Income 22,771 12.412 35,183 Net income before other gainsll105ses) Othergains and10sses: Other GaTrn5 22,771 12,412 35,183 12.523) 20,248 12,5231 32,660 Net movement in funds 12.412 Reconciliation olfunds: Total funds brought foThvard Total fvnds carried forward 50.450 12,186 62,636 70.698 24,598 95,296 3 Income from donati¢)ns and legacies Total Total 2021 2020 14.824 14.824 39.609 104.437 144.046 129,318 129.318 129,318 144,142 14.824 4 Income from investments Total Total 2021 2020 Bank Interest 235 235 Pa8e 4
CALVARY MINISTRIES WORLDWIDE Note5 to the Accounts 5 Other income UnrestrlLled Total Total 2020 2021 Sundry Intome 1.729 1.729 1.729 1.729 72 72 6 Expendlture on tharitable actl¥lties Totsl Total 2021 20ZO Expenditure on choritable ortwities Outreach 120.195 120,195 92.025 Govern¢7nce costs 120.195 120.195 92,025 7 Other expenditure Total Total 20 2020 Employee costs Motor and travel costs 59) 590 1,087 5,342 9.891 3.124 10.085 3,124 10,085 General administrative Costs Legal and professional costs 825 13,799 13.799 17,145 8 Net income before transfers 2021 2020 This is stated after charging: Independent Examinerfs fee 9 stsff costs No employee received emoluments in ex$5 of £60.OLM). 825 Page 5
CALVARY MINISTrIES WORLDWIDE Notes to the Accounts 10 Movernent in funds Incoming At31 Itnduding Resources expended March At l April l$/$Se5 2020 2021 Restricted fun(ts: Restricted income funds: Donations & Legacies 24.598 129.318 1120,1951 33,721 Total 24.598 129.318 1120.1951 33,721 Unrestricted fund5: General funds 70,698 70,698 Designated funds: Donations & Legacies Totol 16.553 {13.7991 113,7991 2,754 16,553 2,754 Revaluation Reser¥es: Total funds 95.296 145,871 1133,9941 107,173 Purposes and restrKtion5 in relation to the funds: Restritted funds: Donations & Legacies Designated fvnds.. Donation5 & Legacies 11 Analysls of net assets between fvnd5 Unrestylcted Restricted funds funds Total Net current assets 12,617 12,617 94556 94.556 107,173 107,173 12 Recondliation of net debt At31 March 2021 At l April 2020 Cash Ilows Cash and cash equiialents 95.296 95.296 11.877 11.877 107,173 107,173 Net debt 95.296 11,877 107.173 Page 6