Charity number: 1121713 Company number: 5959715
TRINITY BAPTIST ORPHANAGE
(LIMITED BY GUARANTEE)
REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2021
Michael Foley & Co Chartered Certified Accountants 20 Rosslyn Crescent Luton Bedfordshire LU3 2AU
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TRINITY BAPTIST ORPHANAGE
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2021
| Contents | |
|---|---|
| Legal andAdministrative details | 1 |
| Report ofthe Trustees | 2-4 |
| Independent Examiner’s Report | 5 |
| Statement ofFinancial Activities | 6 |
| Balance Sheet | 7 |
| NotestotheFinancialStatements | 8-11 |
TRINITY BAPTIST ORPHANAGE
LEGAL AND ADMINISTRATIVE INFORMATION
COMPANY NUMBER: 5959715
CHARITY NUMBER: 1121713
DIRECTORS / TRUSTEES
Pastor Kingsley Appiagyei Pastor Kweku Amosah Pastor Cynthia Appiagyei Pastor Stephen Asibuo Alex Appiah Jeffrey Foli
SECRETARY Pastor Stephen Asibuo
REGISTERED OFFICE:
2 Thornlaw Road West Norwood London SE27 0SA
ACCOUNTANTS:
Michael Foley & Co Chartered Certified Accountants 20 Rosslyn Crescent Luton Bedfordshire LU3 2AU
;
BANKERS: Barclays Bank Plc. West Norwood Branch London SE27 9DW
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TRINITY BAPTIST ORPHANAGE REPORT OF THE TRUSTEES YEAR ENDED 31 OCTOBER 2021
The Trustees present their annual report together with the financial statements of the Charity for the year ended 31 October 2021. Trinity Baptist Orphanage is a company limited by guarantee and a registered charity governed by its memorandum and articles of association. Charity number: 1121713. Company number: 5959715.
REFERENCE AND ADMINISTRATIVE DETAILS
Reference and administrative details are shown in the schedule of trustees/directors of the charity and professional advisors on page | of the financial statements.
THE TRUSTEES
The trustees who served the charity during the period were as follows:
Pastor Kingsley Appiagyei Pastor Kweku Amosah Pastor Cynthia Appiagyei Pastor Stephen Asibuo Alex Appiah Jeffrey Foli
STRUCTURE, GOVERNANCE AND MANAGEMENT
The charity is also a company limited by guarantee. The trustees also act as directors of the company under the leadership of a chairperson.
OBJECTIVES AND ACTIVITIES FOR PUBLIC BENEFIT
The Charity is governed bya constitution:
The main objective of the Charity is the advancement of education and preservation of good health in Ghana in particular but not exclusively by:
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The construction and maintenance of an orphanage 2. The construction and maintenance of other facilities including classrooms blocks, medical centres and library resource centres
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The construction of a Conference/Training Centre for the benefit of the public.
We have considered the Commission’s guidance on public benefit and we believe that the above three objectives satisfy the public benefit criteria.
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TRINITY BAPTIST ORPHANAGE FINANCIAL INFORMATION
The charity’s incoming resources were mainly from donations by the Trinity Baptist Church in London as well as individual members of the church and well-wishers. All funds are unrestricted. Total incoming resources in the year was £37,183 and net incoming resources amounted to £11,435 and this added to the net incoming resources brought forward of £217,081 with the resultant net incoming resources of £228,516 being carried forward towards future activities of the charitable company.
The trustees consider the financial position of the charitable company to be satisfactory.
RESERVES POLICY
The trustees do not currently have a reserve policy but will review the situation when it has become necessary.
RISK MANAGEMENT
The Orphanage operates in Ghana and background checks are carried out on persons employed to manage it.
PLANS FOR THE FUTURE
There is a long way of fully achieving the objectives as outlined above particularly 2 and 3. Future plans are therefore to strive in achieving them.
STATEMENT OF DIRECTORS AND TRUSTEES RESPONSIBILITES
The Charities Act and Companies Act require the Board of Trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charitable company as at the balance sheet date and of its incoming resources and application of resources, including income and expenditure, for the financial year.
In preparing those financial statements, the Board is required to:-
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Select suitable accounting policies and then apply them consistently;
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Make judgements and estimates that are reasonable and prudent;
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Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in operation.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the organisation to ensure that the financial statements comply with the Companies Act 2006.
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TRINITY BAPTIST ORPHANAGE
The Trustees are also responsible for safeguarding the assets of the organisation and for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The report was approved by the trustees on 10 May 2022 and signed on their behalf by:
Director/Trustee
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EREPORT OF THE INDEP E NDENT EXAMINER TO THEE TRUSTEES ON THE UNAUDITED AANEINER TO THE TRUSTEES ON THE —————EEN ACCOUNTS OF TRINITY BAPTIST ORPHANAGE FOR THE YEAR ENDED EY DAP LIS TF ORPHANAGE FOR THE YEAR 31 OCTOBER 2021 We report on the accounts of the charitable company for the year ended 31 October 2021 which are set out on pages 6 to 11.
Respective responsibilities of trustees and examiner
The trustees who are also the directors of the company for the purposes of company law are responsible for the preparation of the accounts. The 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 needed. Having satisfied ourselves that the charity is not subject to an audit under company law and is eligible for independent examination, it is our responsibility to:
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° 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
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: to state whether particular matters have come to our attention.
Basis of independent examiner's statement
Our examination was carried out in accordance with 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 statement below.
Independent examiner's statement
In connection with our examination, no matter has come to our attention:
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1 which gives us reasonable cause to believe that, in any material respect, the requirements:
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° to keep accounting records in accordance with section 386 of the Companies Act 2006; and
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° to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities SORP (FRS102)
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have not been met; or
2 to which, in our opinion, attention should be drawn in order to enable a proper - understanding of the accounts to be reached.
Michael Foley & Foley & & Co
Michael Foley & Foley & & Co 20 Rosslyn Crescent Chartered Certified Accountants Luton Bedfordshire Date: 10 May 2022 May 2022 2022 LU3 2AU
Date: 10 May 2022 May 2022 2022
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TRINITY BAPTIST ORPHANAGE STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 OCTOBER 2021
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||||||||
|---|---|---|---|---|---|---|
|Notes|Unrestricted|Restricted|2021|2020|
|Funds|Funds|Total|Total|
|£|£|£|£|
|Incoming|resources|
|Incoming resourcesfrom charitable|activities|
|Voluntary income|37,183|-|37,183|23,192|
|Total incoming|resources|37,183|-|37,183|23,192|
|Resources|expended|
|Charitable|activities:|
|Charitable|activities|
|of Orphanage|5|25,098|-|25,098|35,510|
|Governance:|5|650|-|650|650|
|Total resources|expended|5|25,748|-|25,748|36,160|
|Net incoming (outgoing)|resources|11,435|-|11,435|(12,968)|
|Total|funds|brought forward|217,081|-|217,081|230,049|
|Total funds|carried forward|228,516|-|228,516|217,081|
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TRINITY BAPTIST ORPHANAGE BALANCE SHEET AS AT 31 OCTOBER 2021
| 2021 | 2020 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| Fixed assets | |||||
| Tangible | 4 | 209,854 | 215,590 | ||
| Current assets | |||||
| Debtors | 8 | - | - | ||
| BankAccounts | 19,312 | 2,141 | |||
| 19,312 | 2,141 | ||||
| Creditors: amounts falling due | |||||
| Within one year | 9 | (650) | (650) | ||
| Net current liabilities | 18,662 | 1.491 | |||
| TotalAssets less currentliabilities | 228,516 | 217,081 | |||
| Funds | |||||
| Unrestrictedfunds | 228,516 | 217,081 |
For the financial year ended 31 October 2021 the company was entitled to exemption from audit under section 477 Companies Act 2006. No member of the company has deposited a notice, pursuant to section 476, requiring an audit of these financial statements under the requirements of the Companies Act 2006. However, in accordance with section 145 of the Charities Act 2011, the accounts have been examined by an Independent Examiner whose report appears on page 5.
The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of its financial year, and of its net incoming resources for the financial year in accordance with sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to accounts, so far as applicable to the company.
The financial statements have been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006 and with the Financial Reporting Standard for Smaller Entities (effective January 2015). Approved by board of trustees on 10 May 2022 and signed on their behalf by:
Pastor Kweku Amosah Alex Appiah Director/Trustee Director/Trustee
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TRINITY BAPTIST ORPHANAGE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 OCTOBER 2021
1 Accounting Policies
a) Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015), the Companies Act 2006 and the requirements of the Statement of Recommended Practice, Accounting and Reporting issued by the Charity Commissioners for England & Wales (revised June 2008 (The SORP).
b) Depreciation policy
Provision for depreciation of fixed assets held for use by the charity is made at annual rates calculated to spread the cost (less anticipated residual disposal value) of each asset evenly over its expected useful life on the straight-line basis. The depreciation rates are as follows: Land and building 2% Furniture, fittings & equipment 25% Computer equipment 30%
c) Donations and grants
Income from donations and grants, including capital grants if any, is included in incoming resources when these are receivable, except as follows:
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When donors specify that donations and grants given to the charity must be used in future accounting periods, the income is deferred until those periods.
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When donors impose conditions, which have to be fulfilled before the charity becomes entitled to use such income, the income is deferred and not included in incoming resources until the pre-conditions for use have been met.
When donors specify that donations and grants, including capital grants, are for particular restricted purposes, which do not amount to pre-conditions regarding entitlement, this income is included in incoming resources of restricted funds when receivable. For the year in question no such income was received by the charity.
d) Income
Income is accounted for on accruals basis. For the year the Charity’s income is mainly from donations.
e) Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates of exchange ruling at the balance sheet date.
Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange gains and losses are recognised in the Statement of Financial Activities.
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TRINITY BAPTIST ORPHANAGE NOTES TO THE FINANCIAL STATEMENTS (Cont’d) YEAR ENDED 31 OCTOBER 2021
Z Resources expended
Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes VAT as the Charity is not registered for VAT and therefore is reported as part of the expenditure to which it relates.
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Charitable expenditure comprises those costs incurred by the Charity in the delivery of its charitable activities of an orphanage and school for children. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
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Governance costs include those costs associated with meeting the constitutional and statutory requirements of the Charity and include accountancy fees and costs linked to the strategic management of the Charity.
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All costs are allocated between the expenditure categories of the SOFA ona basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly; others are apportioned on an appropriate basis e.g. time based and usage.
3 Taxation
There is no liability to any UK Tax arising neither from the results nor from any activity of the Charity.
- 4 Fixed assets for use by the charity
| Land and | Furniture and | Total | |
|---|---|---|---|
| Building | Equipment | ||
| £ | £ | £ | |
| At cost | |||
| At 01 November2020 | 286,793 | 12,837 | 299,630 |
| Additions inyear | - | - | - |
| At 31 October2021 | 286,793 | 12357 | 299,630 |
| Depreciation | |||
| At01 November2020 | 71,203 | 12,837 | 84,040 |
| Charged intheyear | 5,736 | - | 5.736 |
| At 31 October2021 | 76,939 | 12,837 | 89,776 |
| Net book value | |||
| At 31 October 2021 | 209,854 | - | 209,854 |
| At31October2020 | 215,590 | - | 215,590 |
There are only unrestricted funds so fixed assets belong to the unrestricted funds.
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TRINITY BAPTIST ORPHANAGE NOTES TO THE FINANCIAL STATEMENTS (Cont’d) YEAR ENDED 31 OCTOBER 2021
5 Resources expended
Resources expended have been apportioned or allocated on the basis which the trustees considered to be equitable between charitable activities and governance. The resultant apportioned figures are as follows:
| are as follows: | ||||
|---|---|---|---|---|
| Charitable | ||||
| Total | Activities | Governance | 2020 | |
| £ | £ | £ | = | |
| Donations | 19,321 | 19,321 | - | 29,583 |
| Traveling & subsistence | - | - | - | - |
| Accountancy | 650 | - | 650 | 650 |
| Bank charges | 40 | 40 | - | 191 |
| Depreciation offixed assets | ||||
| Land&Building | 5,737 | 5,737 | - | 5,736 |
| Furniture, Fittings& Equipment | - | - | = | - |
| 25,748 | 25,098 | 650 | 36,160 |
Donations were not exclusively in cash for the upkeep of the children in the orphanage and school. They also included material donations in the form of books, school uniforms, school furniture, games equipment, materials for repairs and office supplies.
6 Staff costs and numbers
2021 2020 s £
Salaries and wages - -
There were no salary payments in the United Kingdom for both 2020 and 2021. No trustee was paid remuneration or reimbursed expenses.
| 7 | Netincoming resources for the year: | 2021 | 2020 |
|---|---|---|---|
| Ss | 3 | ||
| This is stated after charging | |||
| Depreciation oftangible assets | 5,737 | 5,736 | |
| £ | t | ||
| 8 | Otherdebtors | # | - |
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TRNITITY BAPTIST ORPHANGE NOTES TO THE FINANCIAL STATEMENTS (cont’d) YEAR ENDED 31 OCTOBER 2021
| 2021 | 2020 | |||||||
|---|---|---|---|---|---|---|---|---|
| £ | £ | |||||||
| 9 | Creditors: | amounts | falling | due | within | theyear | ||
| Accruals | 650 | 650 |
10 Movement in Fund — unrestricted
| At 1November | Incoming | Outgoing | At31 October | |
|---|---|---|---|---|
| 2020 | Resources | Resources | 2021 | |
| £ | £ | £ | £ | |
| Unrestricted | 217,081 | 37,183 | (25,748) | 228,516 |
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