| CONTENTS | PAGE | ||
|---|---|---|---|
| Reference and administrative | details ofthe charity | ||
| Trustee's report |
|||
| Independent Examiner's |
|||
| Statement of Financial |
Activities | ||
| Balance sheet | 10. | ||
| Notes to the financial | statements | 11 —16 |
| Trustees | Mr 0 B Olorunsola-Elias | Mr 0 B Olorunsola-Elias | Mr 0 B Olorunsola-Elias | Mr 0 B Olorunsola-Elias | ||||
|---|---|---|---|---|---|---|---|---|
| Mrs 0 A Fapetu | ||||||||
| Mr 0 Senbore | ||||||||
| Pastor F Olaleye | ||||||||
| Registered | Charity | |||||||
| Number | 1120699 | |||||||
| Correspondence | Address | 81 St Vincents | Road | |||||
| Dartford | ||||||||
| Kent | ||||||||
| DA1 1XA | ||||||||
| Pastor in Charge | Pastor Freda | Olaleye | ||||||
| Accountant | Akintayo Ojo |
FCCA | ||||||
| Resource Management | Consultants | Limited | ||||||
| Chartered Certified |
Accountant | |||||||
| 46 Hollywood | Way | |||||||
| Erith | ||||||||
| DA8 2QE | ||||||||
| Bankers | HSBC Plc | |||||||
| 23 Denmark | Hill | |||||||
| Camberwell | Green | |||||||
| SE5 8RP | ||||||||
| Lloyds Bank | ||||||||
| 121 High Street | ||||||||
| Tonbridge | ||||||||
| Kent | ||||||||
| TN9 1DB |
| Unrestricted | Restricted | Total | Tata I |
||||||
|---|---|---|---|---|---|---|---|---|---|
| Funds | Funds | Funds | Funds | ||||||
| 2022 | 2022 | 2022 | 2021 | ||||||
| Notes | E | ||||||||
| INCOMING RESOURCES |
|||||||||
| Donations, legacies 5 similar |
incoming | ri | 2 | 57,756 | 1,850 | 59,606 | 68,475 | ||
| Activities in furtherance of charity's |
obje | 3 | 55 | 55 | 85 | ||||
| Investment income |
6 | 18 | 18 | 2,405 | |||||
| Total incoming resources |
57,829 | 1,850 | 59,679 | 70,965 | |||||
| RESOURCES EXPENDED | |||||||||
| Charitable expenditure |
|||||||||
| Grants payable —individual |
400 | ||||||||
| Grants payable —institutional |
20,771 | 20,771 | 16,388 | ||||||
| Costs ofactivities in furtherance |
of | ||||||||
| charities objects | 9 | 35,522 | 1,850 | 37,372 | 26,930 | ||||
| Management and governance |
costs | 10 | 1,550 | 1,550 | 3,572 | ||||
| Total resources expended | 57,843 | 1,850 | 59,693 | 47,290 | |||||
| Net (outgoing)/incoming resources |
for year | 14 | 14 | 23,675 | |||||
| Total funds at the start of | the | year | 50,660 | 254,782 | 305,442 | 281,767 | |||
| Tranfer between funds in |
the | year | 10,263 | 10,263 | 281,767 | ||||
| BALANCE AT END OF YEAR | 40,383 | 265,045 | 305,428 | 305,442 |
| Notes | 2022 | |||
|---|---|---|---|---|
| E | ||||
| FIXED ASSETS Building Tangible Fixed assets |
11 11a 11b |
353,924 5,019 358,943 |
353,924 9„231 363,155 |
|
| CURRENT ASSETS | ||||
| Debtors | 12 | |||
| Cash and bank balances | 13 | 36,914 36,914 |
42,979 42,979 |
|
| Total assets | 395,857 | 406,134 | ||
| LIABILITIES | ||||
| CREDITORS {amount falling due within |
one year) | 1,550 | ||
| Accrued expenses Long term Liability - bank |
loan | 15 | 88,879 | 99,142 |
| Totalliability | 90,429 | 100,692 | ||
| NET ASSETS | 305,428 | 305,442 | ||
| CHARITY FUNDS | ||||
| General - unrestricted General - restricted TOTAL FUNDS |
40,383 265,045 305,428 |
50,660 254,782 305,442 |
| Unrestricted | Restricted | Total | Total | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Funds | Funds | Funds | Funds | |||||||||
| 2022 | 2022 | 2022 | 2021 | |||||||||
| 7. Grants payable |
—individual | E | E | E | ||||||||
| Individual welfare |
4QO | |||||||||||
| unrestricted | Restricted | Total | Total | |||||||||
| Funds | Funds | Funds | Funds | |||||||||
| 2022 | 2022 | 202k | ||||||||||
| 8.Grants payable |
—institutional | E | E | E | ||||||||
| Charitable giving |
-UK | 2Q,771 | 20,771 | 16,388 | ||||||||
| Charitable giving |
-overseas | |||||||||||
| Total | 2Q,771 | 20,771 | 16,388 | |||||||||
| List of institutional | grants | payable | E | E | E | |||||||
| RCCG WEM | World | evangelism | 19,876 | 19,876 | 15,748 | |||||||
| RCCG Central Office |
Central Office |
Support | 700 | 700 | 500 | |||||||
| Festival of Life | Advancement | offaith | 195 | 195 | ||||||||
| Others | Advancement | offaith | 140 | |||||||||
| Total grant payable | — | institutional | 2Q,771 | 20,771 | 16,388 | |||||||
| 9. COST OF ACTIVITIES | IN | FURTHERANCE | OF CHARITY'S OBjECTS | |||||||||
| Visiting speakers | expenses | 160 | 160 | |||||||||
| Council rates | 1,641 | 1,641 | 1,303 | |||||||||
| Youth mission | 214 | 214 | ||||||||||
| Printing 5 media | 1,562 | 1,562 | ||||||||||
| Worship costs | 218 | 218 | 127 | |||||||||
| Music, liturgy &.church |
group | 299 | 299 | 245 | ||||||||
| Mission &.evangelism |
6,855 | 1,85Q | 8,705 | |||||||||
| Community projects |
R | welfare | 1,070 | 1,070 | ||||||||
| Licences Ksubscriptions | 144 | 144 | 238 | |||||||||
| Telephone &.internet |
793 | 793 | 118 | |||||||||
| Repairs, renewal |
K maintenance | 1,301 | 1,301 | 3,495 | ||||||||
| Pastors allowance | 5,300 | 5,300 | 8,000 | |||||||||
| Cleaning | 100 | 100 | ||||||||||
| Utiliti es | 5,653 | 5,653 | 1,472 | |||||||||
| Insurance | 2,311 | 2,311 | 1,459 | |||||||||
| Mortgage Interest | 3,561 | 3,561 | 2,766 | |||||||||
| Depreciation | 4,211 | 4,211 | 5,812 | |||||||||
| Admin 5sundry | expenses | 129 | 129 | 794 | ||||||||
| Health &.safety |
200 | |||||||||||
| Covid welfare support | 900 | |||||||||||
| 35,522 | 1,850 | 37,372 | 26,930 |
| Unrestricted | Restricted | Restricted | Total | Total | ||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Funds | Funds | Funds | Funds | |||||||
| 2022 | 2022 | 2022 | 2021 | |||||||
| 10. MANAGEMENT | AND GOVERNANCE | COSTS | ||||||||
| Professional fees |
—other | |||||||||
| Legal fees | 1,822 | |||||||||
| Professional fees |
—accountancy | 5.examination | 1,550 | 1,55Q | 1,75Q | |||||
| 1,550 | 1,550 | 3,572 | ||||||||
| 11. FIXED ASSETS | ||||||||||
| 11a. BUILDING | Total | Total | ||||||||
| 31-Dec | 31-Dec | |||||||||
| 2022 | 2021 | |||||||||
| E | ||||||||||
| Cost at 1 3anuary 2022 | 353,924 | 353,924 | ||||||||
| Additions in the |
year | |||||||||
| Cost at 31 December 2022 | 353,924 | 353,924 | ||||||||
| 11b. TANGIBLE | ASSETS | |||||||||
| Motor | Musical | Computers | Furniture | S. | Total | Total | ||||
| Vehicles | equipment | S.projectors | fittings | 31-Dec | 31-Dec | |||||
| 2022 | 2021 | |||||||||
| Cost | ||||||||||
| At 1 3anuary 2022 | 8,441 | 11,167 | 2,717 | 1.323 | 23,648 | 13,233 | ||||
| Additions | 10,415 | |||||||||
| At 31 December | 2022 | 8,441 | 11,167 | 2,717 | 1,323 | 23,648 | 23,648 | |||
| Depreciation | ||||||||||
| At 1 3anuary 2Q22 |
7,385 | 3,356 | 2,583 | 1,094 | 14,418 | 8,606 | ||||
| Charge for the year | 1,056 | 2,792 | 134 | 229 | 4,211 | 5,812 | ||||
| Disposal in the Year |
||||||||||
| At 31 December | 2Q22 | 8,441 | 6,148 | 2,717 | 1,323 | 18,629 | 14,418 | |||
| Disposal in the |
Year | |||||||||
| At 31 December | 2022 | |||||||||
| Net book value | ||||||||||
| At 31 December | 2022 | 5,019 | 5,Q19 | 9,231 | ||||||
| At 31 December | 2021 | 1,056 | 7,811 | 134 | 230 | 9,231 | ||||
| 12. DEBTORS | Year ended | Year ended | ||||||||
| 31-Dec | 31-Dec | |||||||||
| 2022 | 2021 | |||||||||
| E |
| 13. CASH BALANCES | 13. CASH BALANCES | 13. CASH BALANCES | unrestricted | unrestricted | Restricted | Total | Total | |||
|---|---|---|---|---|---|---|---|---|---|---|
| Funds | Funds | Funds | Funds | |||||||
| 2022 | 2022 | 2022 | 2021 | |||||||
| Bank balance | f | |||||||||
| Building | fund account | 6,389 | 6,389 | 3,514 | ||||||
| Current | account | 22,512 | 22,512 | 31,965 | ||||||
| Savings | account | 8,013 | 8,013 | 7,501 | ||||||
| At 31 December 2022 | 36,914 | 36,914 | 42,979 | |||||||
| Year ended | Year ended | |||||||||
| 14. CREDITORS | 31-Dec | 31-Dec | ||||||||
| 2022 | 2021 | |||||||||
| Accrual and deferred | income: Independent | Examiner's | fees | 1,550 | 1,550 | |||||
| Short term | ||||||||||
| 1,550 | 1,550 | |||||||||
| Year ended | Year ended | |||||||||
| 15. LONG TERM LIABILITY | 31-Dec | 31-Dec | ||||||||
| 2022 | 2021 | |||||||||
| E | E | |||||||||
| Mortgage | (Lloyds Bank) | 88,879 | 99,142 | |||||||
| 88,879 | 99,142 | |||||||||
| Amount | represents | outstanding | balance | on Mortgage | on church | flats. | ||||
| 16. STAFF COST AND NUMBERS | Year ended | Year ended | ||||||||
| Staff costs were as follows | 31-Dec | 31-Dec | ||||||||
| 2021 | ||||||||||
| E | ||||||||||
| Pastor's | allowance | 5,300 | 8,000 | |||||||
| Social security costs | ||||||||||
| 5,300 | 8,000 | |||||||||
| Year ended | Year ended | |||||||||
| The average number |
of employee | during | the year was | as follows | 31-Dec | 31-Dec | ||||
| 2022 | 2021 | |||||||||
| No. | No. |
| ANALYSI | S OF NET | ASSE | TS BETWE | EN FUNDS: CLiRRENT PER | IOD | ||
|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | |||||
| Funds | Funds | Funds | |||||
| 2022 | 2022 | 2022 | |||||
| f | f | ||||||
| Tangible | fixed assets | 5,019 | 353,924 | 358,943 | |||
| Current | assets | 36,914 | 36,914 | ||||
| Creditors | amount | falling | due within | one year | 1,550 | 1,550 | |
| Creditors | amount | falling | due after | more than one year | 88,879 | 88,879 | |
| 40,383 | 265,045 | 305,428 | |||||
| ANALYSIS OF NET | ASSETS BETWEEN FUNDS: PRIOR YEAR | ||||||
| Unrestricted | Restricted | Total | |||||
| Funds | Funds | Funds | |||||
| 2021 | 2021 | 2021 | |||||
| Tangible | fixed assets | 9,231 | 353,924 | 363,155 | |||
| Current | assets | 42,979 | 42,979 | ||||
| Creditors | amount | falling | due within | one year | 1,550 | 1,550 | |
| Creditors | amount | falling | due after | more than one year | 99,142 | 99,142 | |
| 50,660 | 254,782 | 305,442 |
| 20. NET INC |
OMING RESOURCES/(RES |
OURCES EXPENDED) |
||
|---|---|---|---|---|
| Year ended | Year ended | |||
| This is stated | after charging | 31-Dec | 31-Dec | |
| 2022 | 2021 | |||
| E | ||||
| Depreciation | of tangible assets owned | by the charity | 4,211 | 3,208 |
| Accountant's | fees | 1,550 | 1,550 |