Registered number: 06294487 Charity registration number: 1121590 ## **FAITH MIRACLE CHURCH TRUSTEES REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022** KLS TAX & ACCOUNTING LIMITED **Faith Miracle Church Trustees Report and Unaudited Financial Statements For The Year Ended 31 March 2022** ## **Contents** |**Contents**|| |---|---| ||**Page**| |Company Information|1| |Trustees Report|2—8| |Accountant's Report|9| |Income and Expenditure Account|10| |Balance Sheet|11—12| |Notes to the Financial Statements|13—15| |The following pages do not form part of the statutory accounts:|| |Detailed Income and Expenditure Account|16—18| **Faith Miracle Church Company Information For The Year Ended 31 March 2022** |**Company Number**|06294487| |---|---| |**Registered Office**|John Raphael Hse| ||Coburg Road| ||Wood Green| ||London| ||N22 6UB| |**Accountants**|KLS TAX & ACCOUNTING LIMITED| ||Chartered Management Accountant| ||Office 15B| ||316E Ilford Lane| ||Ilford| ||Essex| ||IG1 2LT| Page 1 **Faith Miracle Church Company No. 06294487 Trustees Report For The Year Ended 31 March 2022** ## STRUCTURE, GOVERNANCE AND MANAGEMENT Registered Company number 6294487 (England and Wales) Registered Charity number 1121590 Registered office John Raphael House Coburg Road Wood Green N22 6UB ## Independent Examiner George Osei Mba(Global) ACMA/CGMA AFA MIPA AAIA Director KLS Tax & Accounting Limited Office 15B Ilford Business Centre 316E Ilford Lane Ilford Essex, IG1 2LT Solicitors Thorton Law 6 Duke Street London W1U 3EN Bankers Barclays Bank PLC Chiswick Branch Chiswick High Road London W4 2EA The Co-operative Bank PLC PO Box 200 Skelmersdale WN8 6GH ## Trustees Charles Muotto (Chair of Trustees) Julie Chukwudi Emmanuel Achomadu Babatunde Mustapha Mojisola Okuwoga Psychiatric Nurse Teacher Director Care Services Civil Servant Director Pharmacy Company Company Secretary Patricia Muotto Regional Government Manager ...CONTINUED Page 2 **Faith Miracle Church Trustees Report (continued) For The Year Ended 31 March 2022** STRUCTURE, GOVERNANCE AND MANAGEMENT Central Executive Committee Pastor Moses Omoviye Senior Pastor Postal address Faith Miracle church John Raphael House Coburg Road Wood Green London N22 6UB Pastor Okechukwu Okoro Resident Pastor & Executive Deaconess Glory Udeh Pastoral Team & Executive Godson Jnr. Nnorom Treasurer & Executive Pastor Ugochukwu E Achomadu Pastoral Team & Executive Chioma Omoviye Pastoral Team & Executive Pastor Osamede Ogiemwanre Resident Pastor & Executive Pastor Richard Chukwudi Pastoral Team & Executive Charles Muotto Executive E mail address: info@faithmiraclechurch.org.uk Website: www.faithmiraclechurch.org.uk ...CONTINUED Page 3 **Faith Miracle Church Trustees Report (continued) For The Year Ended 31 March 2022** ## STRUCTURE, GOVERNANCE AND MANAGEMENT The trustees who are also Trustees of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2022. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015). ## Governing document The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. ## Recruitment and appointment of new trustees The Trustees are trustees for the purposes of the Charities Act 1993 and are Trustees under the Companies Act 1985. There must be at least three at any given time and up to seven Trustees, some can be non members of the charity. The Trustees of the charity are to appoint the Trustees at the Annual General Meeting. A vacancy in the number of the Trustees may also be filled during the Charity's AGM. Each of the Trustees shall retire with effect from the conclusion of the Annual General Meeting next after his or her appointment but shall be eligible for re-election at that Annual General Meeting. Currently FMC has six Trustees. The Trustees normally hold three meetings a year at which a quorum of three members is required to be formed. They have the responsibility for setting the strategic aims of the charity and for approving its annual budget and accounts. The Trustees regularly review their needs for skills to meet the requirements of their strategic aims and, where necessary, identify potential new members for the Board. ## Organizational structure The Trustees delegate the day to day running of the charity to the Senior Pastor and the Central Executive Committee. Quarterly joint meetings are held to discuss updates regarding the progress towards achieving the company's strategic aims. ## Induction and training of new trustees All new Trustees are provided by the Chairman and or the Central Executive committee with an induction about the operations or workings of the Charity/Company. Training needs are kept under review by Trustees at their meetings. ## Wider network FMC is linked to other ministries and missions most of which are based on the African continent. These ministries include Global Christian Fellowship, the Valley Mission Project, Full Compassion Ministries. ## Related parties FMC is a member of the Evangelical Alliance, Faith Works, Prayer Haringey and the Haringey Association of Voluntary and Community Organisations Page 4 **Faith Miracle Church Trustees Report (continued) For The Year Ended 31 March 2022** ## OBJECTIVES AND ACTIVITIES ## Objectives 1. The Advancement of the Christian Faith 2. Releasing potential within the Fellowship 3. The Relief of Financial Hardship and Relief of Sickness 4. Advancement of Education ## Significant activities Faith Miracle Church seeks to be inclusive of and welcoming to all persons of all cultures and nationalities. Its activities and events are advertised in social media, through printed literature and members’ personal contacts where they communicate their faith. Most activities are open to members and non-members on a no-cost basis. In addition to regular Sunday and weeknight services FMC also meets each month to commence with a 6 a.m. prayer session. The church often welcomes visitors on these occasions and sometimes hosts visiting preachers and speakers during special services. In summary, Faith Miracle Church seeks to: - Provide grants for the relief of sickness and to promote health in the UK and abroad - Set up educational activities encouraging health and well-being - Contribute to organisations serving needs in the UK and abroad - Respond to known individual needs (students, bereaved and family financial difficulties) ## Volunteers Members are encouraged to participate in service to the fellowship. Wherever possible members have been given suitable responsibilities within the church community. In addition, many members give their time and talents to regularly work in the church, benefiting from learning new skills and gaining experience in administrative and social aspects of running a church. Every effort has been made to identify abilities and provide a path of training which is both educational and developmental so that a two-way benefit for the good of the church and for the individual is realized. Volunteers are helped towards recognizing and working towards fulfilling their potential. FMC may provide some financial help where appropriate. ## Fellowship – The strong sense of family involvement includes focused ministries for married men, women, young adults, youth and children. Practical and biblical teaching, fun activities, sport, music and drama provide a healthy and effective vehicle for learning and growing together. As a church the need for fellowship is of great importance to us and as such we had to find new ways during this financial year in which the entire 12months was more a recovery from the Covid-19 pandemic and some church members are no longer used to coming out for services as they have gotten used to watching services from home online. We continued our online streaming for fellowship but also began drives to encourage people to return to in-person services. Our youth fellowship which use to run on Zoom every Sunday evening at 5pm during the pandemic is now a face to face service on Sundays when the main service is on, we run our Sunday services and Wednesday Liberation teaching services as in-person sessions with an online option on our YouTube channel and Facebook page. In this period members have received emotional, spiritual and practical support in times of dare need for a lot of people and we have found ways to also share their good times together with them. The caring ethos of FMC is consciously reinforced by its leadership and this shined through in the height of the recovery from lockdown and major restrictions in the UK. ## The advancement of education – Due to the lingering impact of the pandemic and lockdown restrictions with people still being lethargic in attending certain functions, FMC was unable to hold its usual annual business support seminar, Life coaching and Mentoring. FMC continued to support children and families with Chrome Books to assist them in their schoolwork. This project was such a blessing to our community as we literally continue to put smiles not just on the faces of the children but also on the faces of their entire families. ## Internal & External factors ## Internal We have good up to date teaching facilities for adults and children The environment is safe and meets good standards of cleanliness The facilities are suitable for events and functions Full time staff: Senior Pastor Media Administrator Consultant: Office Administrator ...CONTINUED Page 5 **Faith Miracle Church Trustees Report (continued) For The Year Ended 31 March 2022** ## OBJECTIVES AND ACTIVITIES ## External ## North London - Location is in a busy part of North London with excellent amenities. - Close to the church is a Piccadilly line underground station. - The area is served by a number of bus routes. - The shopping centre is very busy and at present undergoing some modernization and redevelopment. - We have external support and interdependent relationships with other organizations and churches in the community - Wood Green is subject to an area regeneration plan with consultation taking place with Haringey Council - We have external support from Haringey Voluntary services, the Evangelical Alliance and members of Faith Works - Most of our services are held and were also streamed from this location during this financial year. ## South London: In-person services have not resumed in South London, but we continue to stream virtually to people in this location while some of them travel to North London to be physically there in the service. Church Services – As certain Covid rules were completely removed allowing for people to gather, Faith Miracle Church services took place at our north London allowing people to come in while other members especially internationally are encouraged to continue to join in through the online livestreaming platforms. Whilst some members appear to continue to worship via online streaming the drive to get them into our church building continues. Sunday Church services are well-managed by members and leadership collaborating to provide excellent opportunities to meet for worship and to give expression to their faith. Key departments of the fellowship have the opportunity to lead or participate in services when appropriate. A growing group in Harlow Essex is gradually building up towards the opening of a new church branch there. Membership classes would usually take place in the course of the year to explain: - basic aspects of Christian belief - benefits and responsibilities of individuals within the church, This happened for the first-time post pandemic as people returned back to in-person service. Prior to this the last membership class was pre-pandemic. We intend to build on this next year 2023 Since Covid-19 restrictions are lifted, smaller weeknight gatherings are now being organized in designated homes. These less formal meetings encourage and foster relationships at local level and help build confidence and knowledge of the scriptures. Some of such gatherings include: - The Liberation Service Centres. ## ACHIEVEMENT AND PERFORMANCE Although this is a financial year that will be remembered by many as a post Covid-19 year, Faith Miracle Church has seen a positive and exciting area of growth in the life of the church and has impacted in developing in-person and virtual services/events. The church has become so hybrid (in-person and online) compliant that we are able to reach so many people beyond our borders and for this we are grateful to God for His help through a tough transition period for many organisations. Members have become more aware of abilities, responsibilities and opportunities to take the gospel message to a greater and widening circle maximizing the use of technology to live stream services and pre-record activities. The Senior Pastor along with the pastoral executive officers have worked tirelessly to foster and maintain high quality of teaching and regular links to international ministries. There has continued to be vibrant and enthusiastic growth with both the in-person and online services. We are continuing to build key relationships with a wider community membership and to diversify and extend the support we offer in the local community, using technology this was achieved by streaming fellowship services, Talk with the Mrs, liberation and Sunday School sessions. Pastor Moses will have a new personal Assistant commencing this year 2022 Events – These generally have followed the church calendar with only just a few programs unable to be carried out as they would have required more people coming together to execute. Christian celebrations and festivals were observed. Seminars and training programmes to support the organisation’s policies and activities took place. ## Other notable events included: - Prayerfest attracting many visitors from outlying areas within the UK and outside of the UK - Easter Convention - End of Year Breakthrough Summit - Mothers and Fathers Days celebrations – (managed by women, Children and Men’s Departments) The Liberation Services has continued to provide an avenue of advanced Bible study and serious commitment to the ministry of the Church. ...CONTINUED Page 6 **Faith Miracle Church Trustees Report (continued) For The Year Ended 31 March 2022** ## OUTREACH • Online streaming of services and programmes has been a source of outreach in the community. • Regular outreach visits to Elderly Residential Homes in Haringey could not be carried out in this financial year due to Care Homes being still quite skeptical due to the Covid-19. ## Youth Activities The youth are encouraged to take responsibility for content and delivery of their department activities. Advice and practical help from more experienced members is available where necessary. Drama performances with life-enhancing and inspirational messages to reach children and adults are a strong and engaging feature of these events, however, there was limited opportunity to progress this due to the gradual transitioning to in-person services. Some of the youths are also involved in the choir and in the process are developing their musical skills and understanding of worship ministry. Our dedicated youth teachers deserve appreciation for finding ways to keep the young people positively engaged weekly. ## Children’s Ministry Our younger children who will usually take part in services: singing, reading poems and passages of scripture and short plays and sketches where able to resume these activities this year having not been able to do them during the pandemic. We continue to broadcast children online services to those children whose families have not started attending in-person services yet. The standard of performance and quality of presentations has continued to excite and uplift. The need to develop the children’s musical abilities so that they move towards managing some or all of their worship times which was a vision acknowledged before the pandemic is something we still look forward to doing. Our dedicated volunteers has worked consistently with the children to teach aspects of personal faith as described and understood through Scripture. Biblical principles are discussed and explained in ways that relate to their everyday experiences. Audio and video programmes with music have been well received. ## Charitable activities Apart from supporting members in times of need, grief and at the birth of new born babies, FMC has continued to support charitable activities in the UK and outside the UK through the ministries of: Global Christian Fellowship, the Valley Mission Project, Full Compassion Ministries and Daniel Chand Ministries. FMC also supports missionaries in different nations carrying out specific ministry works to reach those nations. We also supported some church building projects in some nations. The international ministry work supports widows, orphans, scholarships, promoted health care and assisted communities to be more sustainable. ## Management The Trustees held regular communication with the central executive team where policies, procedures and strategies were reviewed in line with current good practice and legal requirements. Some departments successfully self-fund while others are being trained to work within a budget. Some changes in management structure have resulted in devolved responsibilities to the Resident Pastors with added scope for volunteers to work with more responsibility in the organization. Sensible and transparent procedures to protect employees and volunteers have been reviewed. The trustees have continued to work with the Senior Pastor and the central executive on strategic issues. ## Fundraising activities Members are encouraged to fulfil Christian obligations to give financial support through tithes and offerings. Non-members and visitors may donate to specific projects either in person or online. ## FINANCIAL REVIEW ## Principal funding sources The Financial committee review income and expenditure and assess employees’ salaries alongside needs and requests that have arisen. The main funding source is currently through voluntary donations from members - tithes and offerings - which have maintained through the current year. On-line payment facilities were enhanced. Other sources are through one-off voluntary donations for a specific project. We also generate income from rental of our halls and instruments. Our business plan considers other sources of income from charges for the use of facilities and services. ## Reserves policy The reserves policy of FMC is to build up to a level of free reserves, taking one year with another, amounting to one year's operating costs, in order that staff security and continuity of work are secured. With the opening of the South London branch of Faith Miracle Church, the trustees also support the ongoing enquiry into investment opportunities in the form of possible building purchase to provide a stable place of worship for FMC in South London. FMC continues to seek property in South London to purchase. We will keep on looking for something suitable and believe God will lead us to the right place at the right time. ...CONTINUED Page 7 Faith Miracle Church Trustees Report (continued) For The Year Ended 31 March 2022 statement of Trustees Responslbilities- continued Future Plans The following projects are ongoing and require research and per￿nnel IT training Youth tnini5try requi￿ MO￿ personnel to fatilitate growth We will be installiw an LED Screen at the back of the alter in North LoTh1on branch Charles M Muotto Trustee {Chalrl Appmved by order of the board of trustee5 .._......-..-....-..-........--... 2022 and slgned on Its behalf by: Mr Charles M Muoito - Chair of Trustee Page 8 **Faith Miracle Church Trustees Report (continued) For The Year Ended 31 March 2022** Page 9 **Faith Miracle Church Accountant's Report For The Year Ended 31 March 2022** I report on the accounts for the year ended 31 March 2022. Respective responsibilities of trustees and examiner The charity's trustees (who are also the Trustees for the purposes of company law) are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year (under Section 144(2) of the Charities Act 2011 (the 2011 Act)) and that an independent examination is required. Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to: - examine the accounts under Section 145 of the 2011 Act - to follow the procedures laid down in the General Directions given by the Charity Commission (under Section 145(5)(b) of the 2011 Act); and - to state whether particular matters have come to my attention. ## Basis of the independent examiner's report My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair view ' and the report is limited to those matters set out in the statements below. ## Independent examiner's statement In connection with my examination, no matter has come to my attention: 1. which gives me reasonable cause to believe that, in any material respect, the requirements - to keep accounting records in accordance with Section 386 and 387 of the Companies Act 2006; and - to prepare accounts which accord with the accounting records, comply with the accounting requirements of Sections 394 and 395 of the Companies Act 2006 and with the methods and principles of the Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) have not been met; or 2. to which, my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. **----- Start of picture text -----**
Signed
**----- End of picture text -----**
Date : 15/12/2022 KLS TAX & ACCOUNTING LIMITED Chartered Management Accountant Office 15B 316E Ilford Lane Ilford Essex IG1 2LT Page 10 **Faith Miracle Church Income and Expenditure Account For The Year Ended 31 March 2022** |**Notes**
**TURNOVER**
**GROSS SURPLUS**
Administrative expenses
Other operating income
**OPERATING SURPLUS**
Interest payable and similar charges
**SURPLUS FOR THE FINANCIAL YEAR**
The notes on pages 13 to 15 form part of these financial statements.|**2022**
**£**
**315,800**
**315,800**
(246,201 )
18,685
**88,284**
-
**88,284**|**2021**
**£**
**370,928**| |---|---|---| |||**370,928**
(211,153 )
17,500| |||**177,275**
(11 )| |||**177,264**| |||| Page 11 ## **Faith Miracle Church Balance Sheet As at 31 March 2022** |**Notes**
**FIXED ASSETS**
Tangible Assets
**3**
**CURRENT ASSETS**
Debtors
**4**
Cash at bank and in hand
**Creditors: Amounts Falling Due Within One Year**
**5**
**NET CURRENT ASSETS (LIABILITIES)**
**TOTAL ASSETS LESS CURRENT LIABILITIES**
**Creditors: Amounts Falling Due After More Than**
**One Year**
**6**
**NET ASSETS**
**RESERVES**
Unrestricted Funds
Income and Expenditure Account
**NET UNRESTRICTED FUNDS**|**2022**
**£**
**£**
256,246
**256,246**
13,722
604,700
**618,422**
**(5,702 )**
**612,720**
**868,966**
**(7,447 )**
**861,519**
773,235
88,284
**861,519**|**2022**
**£**
**£**
256,246
**256,246**
13,722
604,700
**618,422**
**(5,702 )**
**612,720**
**868,966**
**(7,447 )**
**861,519**
773,235
88,284
**861,519**|**2021**
**£**
**£**

264,805

**264,805**
7,187
518,094
**525,281**
**(4,702 )**

**520,579**

**785,384**

**(12,149 )**

**773,235**

388,130

385,105

**773,235**|**2021**
**£**
**£**

264,805

**264,805**
7,187
518,094
**525,281**
**(4,702 )**

**520,579**

**785,384**

**(12,149 )**

**773,235**

388,130

385,105

**773,235**| |---|---|---|---|---| |||**256,246**




**612,720**||**264,805**




**520,579**| ||**618,422**
**(5,702 )**||**525,281**
**(4,702 )**|| ||||





|| |||**868,966**||**785,384**| |||**(7,447 )**||**(12,149 )**| |||**861,519**||**773,235**| |||773,235
88,284||388,130
385,105| |||**861,519**||**773,235**| Page 12 Falth Mlracle Church Balance Sheet (continued) A5 at 31 Marth 2022 The tharitable company Is entttbed to exemption frnm audlt under Section 477 of the Companies Act 2006 for the year ended 31 March 2022. The members have not reqLtired the charitable company to obtain an audit of its hnancial statements for the year ended 31 March 2021 in accordance with Section 476 of the Companies Act 2006. The trustees acknowledge their restK>nsibililies for ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 OF the Companies Act 2006 and preparillg financÈal statements whi¢h give a true and fair view of the state of affairs of the charltabk company as at the end of eath financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Cotnpanies 2006 ￿tstyn9 to financ￿1 ststements, $0 far as applicable to the charitable company These financi31 ststement5 have been prepareil in acc￿￿an￿ with Ihe spetial wovisions of Part 15 of the Companles Att 2006 relating to small charitable compan¢es. The financial statements were apprnved by the Board of Trustees on and were signed on its behalf by.. Mr Charles Muo o - Chair of the Trustees On behalf of the t#)ard Date: IL The noies on paoes 13 to 15 forni part of fhese financial statements. **Faith Miracle Church Notes to the Financial Statements For The Year Ended 31 March 2022** ## **1. Accounting Policies** ## **1.1. Basis of Preparation of Financial Statements** The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006. ## **1.2. Turnover** Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances. ## **Sale of goods** Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods. ## **Rendering of services** Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably. ## **1.3. Tangible Fixed Assets and Depreciation** Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases: |
seful lives on the following bases:|| |---|---| |Freehold|Not depreciatied| |Plant & machinary|20%| |Motor Vehicles|14.06%| |Improvements to property|10%| |Computer Equipment|20%| ## **1.4. Leasing and Hire Purchase Contracts** Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the income and expenditure account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period. Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to income and expenditure account as incurred. ## **1.5. Government Grant** Government grants are recognised in the income and expenditure account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute. Grants for immediate financial support or to cover costs already incurred are recognised immediately in the income and expenditure account. Grants towards general activities of the entity over a specific period are recognised in the income and expenditure account over that period. Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the income and expenditure account over the useful life of the asset concerned. All grants in the income and expenditure account are recognised when all conditions for receipt have been complied with. ## **2. Average Number of Employees** Average number of employees, including Trustees, during the year was as follows: 2 (2021: ) Page 14 **Faith Miracle Church Notes to the Financial Statements (continued) For The Year Ended 31 March 2022** ## **3. Tangible Assets** |**Cost**
As at 1 April 2021
As at 31 March 2022
**Depreciation**
As at 1 April 2021
Provided during the period
As at 31 March 2022
**Net Book Value**
As at 31 March 2022
As at 1 April 2021
**Cost**
As at 1 April 2021
As at 31 March 2022
**Depreciation**
As at 1 April 2021
Provided during the period
As at 31 March 2022
**Net Book Value**
As at 31 March 2022
As at 1 April 2021|**Land &**
**Property**
**Freehold**
**£**
235,000|**Plant &**
**machinary**
**£**

61,918||**Motor**
**Vehicles**
**£**
32,520|**Improvements**
**to property**
**£**

25,904|**Improvements**
**to property**
**£**

25,904| |---|---|---|---|---|---|---| ||235,000|
61,918||32,520||25,904| ||-
-|
57,828

2,044|
|14,805
4,515|
|25,904
-| ||-|
59,872||19,320||25,904| ||235,000|
2,046||13,200||-| ||235,000|
4,090||17,715||-| |||||||**Total**
**£**

365,342| |||||10,000||
365,342| |||||2,000
2,000||
100,537

8,559| |||||4,000||
109,096| |||||6,000||
256,246| |||||8,000||
264,805| No depreciation has been provided on the church building. These are let on a 99-year fully repairing and insuring lease from 20th September 1980 with five yearly upward only rents reviews. Faith Miracle Church acquired the lease in September 2010 at a cost of £235,000. The latest valuation was undertaken on 29.3.12 by Obi Chianumba BA(Hons) PgDip MRICS at which date the lease had an unexpired term of 67.5 years. They valued the market value of the long lease at £580,000. ## **4. Debtors** |**Due in less than one year**
Gift Aid Receiveable|**2022**
**£**
13,722
**13,722**|**2021**
**£**
7,187| |---|---|---| |||**7,187**| Page 15 ## **Faith Miracle Church Notes to the Financial Statements (continued) For The Year Ended 31 March 2022** ## **5. Creditors: Amounts Falling Due Within One Year** |**2022**
**£**
Net obligations under finance lease and hire purchase contracts
4,702
Trade creditors
1,000
**5,702**
**6.** **Creditors: Amounts Falling Due After More Than One Year**
**2022**
**£**
Net obligations under finance lease and hire purchase contracts
7,447
**7,447**
**7.** **Obligations Under Finance Leases and Hire Purchase**
**2022**
**£**
The maturity of these amounts is as follows:
Amounts Payable:
Within one year
3,960
Between one and five years
5,528
9,488
Less: Finance charges allocated to future periods
(2,661 )
**12,149**
**8. STAFF COSTS**
**31/03/2022**
**£**
Salaries and wages
62,263
Social security costs
6,240
Pension costs (defined contribution pension plan)
5,016
Other employee benefits
**Total staff costs**
**73,519**|**2021**
**£**
4,702
-| |---|---| ||**4,702**| ||**2021**
**£**
12,149| ||**12,149**| ||**2021**
**£**
3,960
10,230| ||14,190
(2,661 )| ||**16,851**| ||| ## **9. Company limited by guarantee** The company is limited by guarantee and has no share capital. Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1. ## **10. General Information** Faith Miracle Church is a private company, limited by guarantee, incorporated in England & Wales, registered number 06294487 . The registered office is John Raphael Hse, Coburg Road, Wood Green, London, N22 6UB. Page 16 ## **Faith Miracle Church Detailed Income and Expenditure Account For The Year Ended 31 March 2022** |**TURNOVER**
Donations
Gift Aid Income
**GROSS SURPLUS**
**Administrative Expenses**
Wages
Social security
Pensions
Travel and subsistence expenses
Other operating lease
Light and heat
Rates and Water
Premises and renovation expenses
Vehicle running costs
Software support and IT equipment
Missions and media outreach, guest speakers
Insurance
Postage and stationery
Printing
Telephone
Website costs
Accountancy and legal fees
Professional fees
Bank charges
Welfare and donations
Events and musicians
Depreciation of plant and machinery
Depreciation of motor vehicles
Depreciation of computer equipment
Sundries
**Other Operating Income**
Covid-19 response grant
Lottery grant income
**OPERATING SURPLUS**|**2022**
**£**
**£**
258,078
57,722
**315,800**
**315,800**
62,263
6,240
5,016
2,208
36,211
6,536
-
3,925
4,978
10,457
36,295
5,052
185
1,334
8,717
185
1,000
17,376
1,041
19,394
8,262
2,044
4,515
2,000
967
**(246,201 )**
18,685
-
**18,685**
**88,284**|**2022**
**£**
**£**
258,078
57,722
**315,800**
**315,800**
62,263
6,240
5,016
2,208
36,211
6,536
-
3,925
4,978
10,457
36,295
5,052
185
1,334
8,717
185
1,000
17,376
1,041
19,394
8,262
2,044
4,515
2,000
967
**(246,201 )**
18,685
-
**18,685**
**88,284**|**2021**
**£**
**£**

370,928

-

**370,928**

**370,928**
53,664
8,581
4,656
184
32,147
6,167
177
2,154
4,861
10,710
31,190
4,014
407
-
8,894
-
900
15,793
-
16,215
1,880
2,044
4,515
2,000
-

**(211,153 )**
7,500
10,000

**17,500**

**177,275**|**2021**
**£**
**£**

370,928

-

**370,928**

**370,928**
53,664
8,581
4,656
184
32,147
6,167
177
2,154
4,861
10,710
31,190
4,014
407
-
8,894
-
900
15,793
-
16,215
1,880
2,044
4,515
2,000
-

**(211,153 )**
7,500
10,000

**17,500**

**177,275**| |---|---|---|---|---| |||**315,800**
**315,800**

























**(246,201 )**


**18,685**||**370,928**
**370,928**

























**(211,153 )**


**17,500**| ||18,685
-||
7,500
10,000|| ||||
|| |||**88,284**||**177,275**| ...CONTINUED Page 17 **Faith Miracle Church Detailed Income and Expenditure Account (continued) For The Year Ended 31 March 2022** |**Interest payable and similar expenses**
Bank interest payable
**SURPLUS FOR THE FINANCIAL YEAR**|-|
**-**|11|
**(11)**| |---|---|---|---|---| ||||
|| |||**88,284**||**177,264**| Page 18