| Page | Page | |||||
|---|---|---|---|---|---|---|
| Reference and administrative | details | |||||
| Report ofthe trustees | 2 | to | 13 | |||
| Report ofthe independent auditors |
14 | to | 17 | |||
| Statement offinancial | activities | 18 | to | 19 | ||
| Statement offinancial | position | 20 | to 21 | |||
| Statement ofcash flows and notes |
22 | to 25 | ||||
| Notes to the linancial | statements | 26 | to | 42 | ||
| Detailed statement of | financial | activities | 43 | to | 44 |
| Name | Position | Position | Salary f |
Employer f |
Pension | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| National | |||||||
| Rev0Afriyie | Head | 46,212 | 5,379 | 51,591 | 50,094 | ||
| Rev JSam | Area | Head | 36,120 | 5,146 | 41,266 | 39,510 | |
| Rev G Korankye | Area | Head | 42,366 | 5,055 | 47,421 | 46,050 | |
| Rev KAppiah | Area | Head | Nil | Nil | Nil | 34,232 | |
| District | |||||||
| Rev EDanso | Pastor | 36,228 | 4,891 | 41,119 | 39,630 | ||
| Nat. | |||||||
| Rev KFrempong | Secretary | 33,066 | 4,980 | 38,046 | 37,200 | ||
| Rev F Kwaah | Area | Head | Nil | 4,980 | 4,980 | 37,350 | |
| Rev EDonkor | Rector BCC | 27,799 | 9,870 | 37,669 | 39,384 | ||
| Elder JAdomako | Deacon | Nil | Nil | Nil | Nil | ||
| Rev EYAppiah | Trustee | f33966 | f~498 | QS946 | Nil | ||
| f255,757 | f45,281 | f301,038 | f323,450 | ||||
| Trustees were reimbursed | expenses | for the year as shown below: | |||||
| Name | 2021 | 2020 | |||||
| f | |||||||
| Rev0Afriyie | 5,660 | 294 | |||||
| Rev JSam | 100 | 100 | |||||
| Rev G Korankye | Nil | Nil | |||||
| Rev EDanso | 65 | 65 | |||||
| Elder JAdomako | Nil | Nil | |||||
| Rev EDonkor | 54 | 54 | |||||
| f5,660 | f513 |
| 2021 | 2020 | |||||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | |||
| fund | fund | funds | funds | |||
| Notes | 8 | |||||
| INCOME AND ENDOWMENTS FROM | ||||||
| Donations and legacies |
2a | 6,336,145 | 283,698 | 6,619,843 | 5,861,771 | |
| Charitable activities |
||||||
| Church | 4a | 70,167 | 70,167 | 103,093 | ||
| BCCCollege | 4a | 287,835 | 287,835 | 43,296 | ||
| Investment income |
3 | 229 | 229 | 1 251 | ||
| Total | 6,694,376 | 283,698 | 6,978,074 | 6,DD9411 | ||
| EKPENDITURE ON | ||||||
| Charitable activities |
||||||
| Church | 4,666,306 | 10,400 | 4,676,706 | 4,504,480 | ||
| Support cost | 144,725 | 144,725 | 113,156 | |||
| Governance | 90,298 | 90,298 | 58,385 | |||
| BCCCollege | 394,186 | 394,186 | 267,155 | |||
| Total | 5 295 515 | 10,400 | 5,305,915 | 4,943,176 | ||
| Gain on acquisition ofsubsidiary | 21 | 1221 464 | ||||
| NKT INCOME | 1,398,861 | 273,298 | 1,672,159 | 2,287,699 | ||
| RECONCILIATION | OFFUNDS | |||||
| Total funds brought | forward | 13,776,011 | 2,235,304 | 16,011,315 | 13,723,616 | |
| TOTAL FUNDS CARRIFO FORW ADO | 15 174 072 | 2 5D8 6D2 | 17683 474 | 16011315 |
| 2021 | 2020 | ||||||
|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||||
| funds | fund | funds | funds | ||||
| Notes | f. | 8 | |||||
| INCOME | AND ENDOWMENTS FROM | ||||||
| Donations | and legacies | 2c | 6,335,964 | 283,698 | 6,619,662 | 5,857,522 | |
| Charitable | activities | 4 | |||||
| Church | 4b | 70,167 | 70,167 | 100,344 | |||
| Investment | income | 3 | 229 | 229 | 1251 | ||
| Total | 6 4D6 36D | 283 698 | 6698D58 | 5 959117 | |||
| EXPENDITURE ON | |||||||
| Charitable | activities | ||||||
| Church | 4,943,793 | 10,400 | 4,954,193 | 4,756,428 | |||
| Support Cost | 193,508 | 193,508 | 111,627 | ||||
| Governance | 90,298 | 90,298 | 49,821 | ||||
| Total | 5,227,599 | 10,400 | 5,237,999 | 4,917,876 | |||
| NKT INCOME | 1,178,761 | 273,298 | 1,452,059 | 1,041,241 | |||
| RECONCILIATION | OF FUNDS | ||||||
| Total funds brought | forward | 13,394,182 | 1,370,675 | 14,764,857 | 13,723,616 | ||
| TOTALDDNDDCARR3EODORTDARO | 14,572,943 | 1643,973 | 16,216,916 | 14,764,857 |
| 2021 | |||
|---|---|---|---|
| FIXED ASSETS | |||
| Tangible assets | 1la | 17,140,526 | 16,419,709 |
| CURRENT ASSETS | |||
| Debtors Cash at bank |
12a | 606,595 ~3699470 |
185,'730 3,74'2,908 |
| 4306,065 | 3,928,638 | ||
| CREDITORS | |||
| Amounts falling due within one year |
13 | (576,703) | (706,464) |
| NET CURRENT ASSETS | 3,72o 362 | 3322.t74 | |
| TOTAL ASSETSLESSCURRENT | |||
| LIABILITIES | 20,869,888 | 19,641,883 | |
| CREDLTORS | |||
| Amounts falling due ager more than ooe year |
15 | (3,186,414) | (3,630468) |
| NKT ASSETS | 17683374 | ~16 011,315 | |
| FUtvTIS | 17 | ||
| Unresndeted funds Restrioted funds |
15,174,872 2,508602 J— |
13,776,011 2,235s304 |
|
| TOTAL FUNDS | 17683 4741 | ~16011,315 |
| 2EII | 2020 | ||
|---|---|---|---|
| FIXEDASSETS | Notes | f, | 8 |
| Tangible assets | 11(b) | 15,760,823 | 15,196,690 |
| CURRENT ASSETS | |||
| Debtors Cash at bank |
12(b) | 518,739 ~366 102 |
177,234 ~3710087 |
| 4,186,841 | 3,88'7,321 | ||
| CREDITORS | |||
| Amounts falling due within one year |
13(b) | (544,334) | (688,586) |
| NET CURRENT ASSETS | 3642 507 | ~3198735 | |
| TOTAI ASSETSLESSCURRENT | |||
| LIABILITIES | 19,403,330 | 18,395,425 | |
| CREDITORS | |||
| Amounts falling due after more than one year |
14 | (3,186,414) | (3,630,568) |
| NET ASSETS | ~16216916 | ~14764 857 | |
| FUNDS | 17 | ||
| Unrestricted funds: |
|||
| General fund Restricted funds: |
idy72,943 | 13394,182 | |
| Charitable activities |
3333973 | 339379 | |
| TOTAL FUNDS | 16,216916 | ~14.764 857 |
| FOR THE | YEAR ENDED 3 | 1STDECEMBER2021 | 1STDECEMBER2021 | ||
|---|---|---|---|---|---|
| 2021 | 2020 | ||||
| Notes | |||||
| Cash flows from operating | activities | ||||
| Cash generated from operations Interest paid |
I | 2,161,463 ~112705 |
1,920,012 ~115,491 |
||
| Net cash provided by operating activities |
~2048 | 758 | ~1804521 | ||
| Cash flows from investing | activities | ||||
| Purchase oftangible fixed assets | (1,508521) | (934,807) | |||
| Sale oftangible fixed assets | 4,502 | ||||
| Cash from acquisition ofsubsidiary | 26,636 | ||||
| Sale offixed asset investments | 2,749 | ||||
| Interest received | 229 | 1,251 | |||
| Net cash used in investing activities |
~1503 | 790) | ~904 171) | ||
| Cash flows from flnancing | activities | ||||
| New loans in year | 500,000 | ||||
| Loan repayments in year |
~580 | 406 | ~347060 | ||
| Net cash (used in)/provided | by financing | activities | ~508 | 4061 | ~152940 |
| Change in cash and cash | equivalents | in | |||
| the reporting period |
(43,438) | 1,053,290 | |||
| Cash and cash equivalents | at the | ||||
| beginning ofthe reporting | period | ~374 | 9D8 | 2,689,618 | |
| Cash and cash equivalents | at the end | of | |||
| the reporting period |
3 699 47D | ~3742,908 |
| 2021 | 2020 | ||||||
|---|---|---|---|---|---|---|---|
| f | |||||||
| Net income | for the | reporting | period (as per the Statement | of | |||
| financial activities) | 1,672,159 | 2,287,699 | |||||
| Adjustments | for: | ||||||
| Depreciation | charges | 794,450 | 761,856 | ||||
| Gain on acquisition | ofsubsidiary | (1,221,464) | |||||
| Profit on disposal offixed assets | (11,248) | (2,749) | |||||
| Interest received | (229) | (1,251) | |||||
| Interest paid | 112,705 | 115,491 | |||||
| Increase in debtors | (420,865) | (27,599) | |||||
| Increase in creditors | 14,491 | 8,029 | |||||
| Net cash provided | by operations | ~2161463 | ~1920012 | ||||
| ANALYSIS | OF CHANGES | IN NET (DEBT)/FUNDS | |||||
| At | 1.1.21 f |
Cash Bow f |
At 31.12.21 | ||||
| Net cash | |||||||
| Cash at bank | and in | hand | 3,742, 9tl8 | ~43430 | 3,699,47tl | ||
| 3,742,908 | ~43,438 | 3,699,470 | |||||
| Debt | |||||||
| Debts falling | due within I year | (475353) | 144,252 | (331,001) | |||
| Debts falling | due atter I year | ~3630568 | 444,154 | ~3306414 | |||
| ~4305S21 | 5884116 | ~3537435 | |||||
| Total | ~362913 | 544,968 | IS20S5 |
| 2021 | 2020 | |||||
|---|---|---|---|---|---|---|
| Notes | 8 | |||||
| Cash flows from operating | activities | |||||
| Cash generated from operations Interest paid |
(lb) | 1,941,590 ~772 705 |
1,904,109 ~735.497 |
|||
| Net cash provided by operating activities |
1,828 885 | 1,788,618 | ||||
| Cash flows from investing | activities | |||||
| Purchase oftangible fixed | assets | (1,313,053) | (922,340) | |||
| Sale oftangible fixed assets | 4,502 | |||||
| Interest received | 229 | 51 | ||||
| Net cash used in investing | activities | il 3083223 | 921 089 | |||
| Cash flows from financing | activities | |||||
| New loans in year | 500,000 | |||||
| Loan repayments in year |
(562,548) | (340,931) | ||||
| Net cash (used in)/provided | by financing | activities | ~563254) | 152,940 | ||
| Change in cash and cash | equivalents | in | ||||
| the reporting period |
(41,985) | 1,020,469 | ||||
| Cash and cash equivalents | at the | |||||
| beginning ofthe reporting |
period | 3,710,087 | 2,689,618 | |||
| Cash and cash equivalents | at the end of | |||||
| the reporting period |
3 668 102 | 3.710,087 |
| 2021 | 2020 | ||||||
|---|---|---|---|---|---|---|---|
| f | f | ||||||
| Net income | for the | reporting | period (as per the Statement | of | |||
| financial activities) | 1,452,059 | 1,041,241 | |||||
| Adjustments | for: | ||||||
| Depreciation | charges | 755,666 | 761,856 | ||||
| Profit on disposal offixed assets | (11,248) | ||||||
| Interest received | (229) | (1,251) | |||||
| Interest paid | 112,705 | 115,491 | |||||
| Increase in debtors (Decrease)/increase |
in creditors | (341,505) ~25 858 |
(19,103) 5,875 |
||||
| Net cash provided | by operations | 1941,590 | 1,904,109 | ||||
| ANALYSIS | OFCHANGES IN NET (DEBT)/FUNDS | ||||||
| At | 1.1.21 | Cash flow | At31.12.21 | ||||
| f | f | ||||||
| Net cash | |||||||
| Cash at bank | and in | hand | 3,710,087 | ~41 985 | 3,668, 102 | ||
| 3710087 | ~41 905 | 3 668,102 | |||||
| Debt | |||||||
| Debts falling | due within I year | (475,253) | 118,394 | (356,859) | |||
| Debts falling | due after I year | ~3630568 | 444 154 | ~3186414 | |||
| ~4105021 | 562,548 | ~3543573, | |||||
| Total | ~39573~ | 520563 | 124829 |
| DONATIONS AND |
LEGACIES | ||
|---|---|---|---|
| 2021 | 2020 | ||
| 8 | |||
| Tithes and offerings | 5,927,236 | 5,227,966 | |
| Joint services offering | 58,653 | 17,309 | |
| Gift aid receivable | 300,000 | 311,817 | |
| Blankson Foundation | donations | 7,093 | 13,928 |
| Joint Ministries offering |
50,076 | 17,357 | |
| Welfare and disaster offering | 1,500 | ||
| Pension offering | 15,118 | 197 | |
| Building Fund offering | 246,493 | 256,069 | |
| Van offering | 11,380 | ||
| BCCOfferings | 14,994 | ||
| Donations received by |
BCC | 180 | 4,249 |
| 6619843 | 5 861 772 |
| CLASSIFICATION | OF GROUP D | ONATIONS AND LE |
GACIES | ||
|---|---|---|---|---|---|
| 2021 | 2020 | ||||
| Unrestricted | Restricted | Total | Total | ||
| funds | funds | funds | funds | ||
| f. | 8 | 8 | |||
| Tithes and offerings | 5,927,236 | 5,927,236 | 5,227,965 | ||
| Joint services offering | 58,653 | 58,653 | 17,309 | ||
| Gift aid receivable | 300,000 | 300,000 | 311,817 | ||
| Blankson Foundation | donations | 7,093 | 7,093 | 13,928 | |
| Joint Ministries offering |
50,076 | 50,076 | 17,357 | ||
| Welfare and disaster offerings | 1,500 | ||||
| BCCofferings | 14,994 | 14,994 | |||
| Donations received by |
BCC | 180 | 4,249 | ||
| Pension offering | 15,118 | 15,118 | 197 | ||
| Building Fund offering | 246,493 | 246,493 | 256,069 | ||
| Van offering | 11,380 | ||||
| 6,335,965 | 283,878 | 6,619,843 | 5,861 772 |
| 2b. DONA |
TION | S AND LEGACIES |
OFPARENT C | HARITY | ||
|---|---|---|---|---|---|---|
| 2021 | 2020 | |||||
| Unrestricted | Restricted | Total | Total | |||
| funds | funds | funds | funds | |||
| f | 8 | 8 | ||||
| Tithes and offerings | 5,927,236 | 5,927,236 | 5,227,965 | |||
| Joint services offering | 58,653 | 58,653 | 17,309 | |||
| C2itt aid receivable | 300,000 | 300,000 | 311,817 | |||
| Blankson Foundation | donations | 7,093 | 7,093 | 13,928 | ||
| Youth Ministry | and conference offerings | 296 | 296 | 352 | ||
| Joint Ministries | offering | 49,780 | 49,780 | 17,005 | ||
| Welfare and disaster offerings | 1,500 | |||||
| BCCofferings | 14,994 | 14,994 | ||||
| Pension offering | 15,118 | 15,118 | 197 | |||
| Building Fund offering | 246,493 | 246,493 | 256,069 | |||
| Van offering | 11,380 | |||||
| 6335965 | 283698 | 6639,663 | 5857522 | |||
| INVESTMENT | INCOME | |||||
| 2021 | 2020 | |||||
| Unrestricted | Restricted | Total | Total | |||
| funds | funds | funds | funds | |||
| 8 | ||||||
| Deposit account | interest | 229 | 229 | 1251 |
| GROUP INCOME F | ROM CHARITABLE ACTIVITIE | S | |
|---|---|---|---|
| 2021 | 2020 | ||
| Activity | |||
| Other income | Church | 9,855 | 34,786 |
| Rental income | Church | 60,312 | 68,306 |
| Other income | BCCCollege | 5,005 | 3,894 |
| Rental income | BCCCollege | 95,296 | 17,675 |
| Academic income | BCCCollege | 187,534 | 21 727 |
| 358,002 | ~146 388 |
| PARENT CHARITY INCOME FROM CHA | RITABLE ACTIVITIES | |
|---|---|---|
| Total | ||
| Church | activities | |
| Other income | 6,758 | 32,038 |
| Rent received | 60,312 | 68,306 |
| Audio visual income | 3,097 | |
| 70,167 | 100,344 |
| GROUP CHARITABLE | ACTIVI | T | IES COST | S | |||
|---|---|---|---|---|---|---|---|
| Direct | Support | ||||||
| Costs (see | costs (see | ||||||
| note 6) 8 |
note 7) f |
Totals 8 |
|||||
| Church | 4,676,706 | 4,676,706 | |||||
| Support cost | 144,725 | 144,725 | |||||
| Governance | 90,298 | 90,298 | |||||
| BCCCollege | 376,197 | 17,989 | 394,186 | ||||
| 5,052,903 | 253,012 | 5,305,915 | |||||
| GROUP DIRECT COSTSOF CHARITABLE | ACTIVITIES | ||||||
| 2021 | 2020 | ||||||
| 8 | |||||||
| Staff costs | 1,539,954 | 1,565,297 | |||||
| Church plant tk evangelism | 175,563 | 133,325 | |||||
| Women's Ministry expenses |
16,660 | 13,577 | |||||
| Children's Ministry expenses |
8,599 | 1,251 | |||||
| Retreats and conferences | 31,282 | 37,271 | |||||
| Gifts, welfare lit donations |
166,462 | 248,635 | |||||
| Premises expenses | 586,598 | 498,904 | |||||
| Rent - churches Esmenses |
934,294 | 797,597 | |||||
| Motor, travel, subsistence | and accom | modation | 353,852 | 255,800 | |||
| Presiding Elders expenses |
11,433 | 6,700 | |||||
| Volunteer expenses |
25,083 | 13,840 | |||||
| Equipment maintenance |
72,445 | 69,040 | |||||
| PEMEM expenses | 1,458 | 500 | |||||
| Donations to Birmingham | Christian | College | 97,842 | ||||
| Insurance | 77,406 | 63,502 | |||||
| Bank charges | 18,924 | 18,307 | |||||
| Youth Ministry expenses |
11,637 | 8,342 | |||||
| Audio visual expenses | 17,778 | 532 | |||||
| Souvenirs Ik calendars expenses |
10,749 | 10,400 | |||||
| Blankson Foundation expenses |
10,400 | 5,650 | |||||
| General charitable expenses |
202 | 2,954 | |||||
| Gain/(loss) on disposal |
(11,248) | (2,749) | |||||
| Communication cost |
23,551 | 16,012 | |||||
| Freelance consultants | 18,575 | 7,851 | |||||
| Validation k, accreditation | fee | 22,765 | 4,680 | ||||
| Course development dt research |
5,992 | ||||||
| Other professional fees |
4,038 | ||||||
| Library expenses | 8,593 | ||||||
| Advertising and marketing |
9,232 | ||||||
| Student bursaries | 3,500 | ||||||
| BCCDepreciation charge |
15,626 | ||||||
| Depreciation | 794,450 | 761,856 | |||||
| Interest payable and similar | charges | 112705 | 115,491 | ||||
| ~5052 03 |
4778063 |
| Governance | |||||||
|---|---|---|---|---|---|---|---|
| Other | costs | Totals | |||||
| 8 | 8 | ||||||
| Support cost | 144,725 | 144,725 | |||||
| Governance | 90,298 | 90,298 | |||||
| BCCCollege | ~10105 | 7,884 | 17,989 | ||||
| 154&30 | 98 182 | 253 012 | |||||
| Support costs, included | in the above, are as | follows: | |||||
| 2021 | 2020 | ||||||
| Support | BCC | Total | Total | ||||
| cost | Governance | College | activities | activities | |||
| 8 | 8 | 8 | |||||
| Training expenses |
13,094 | 2,975 | 16,069 | 18,056 | |||
| General administration | |||||||
| expense | 1,573 | 1,352 | 2,925 | 609 | |||
| Travel and | subsistence | 1,199 | 1,054 | 2,253 | 1,837 | ||
| Printing, postage 8c |
|||||||
| telephone | 28,133 | 4,724 | 32,857 | 25,537 | |||
| Telephone | and internet | 37,154 | 37,154 | 37,586 | |||
| Sottware and website | 63,572 | 63,572 | 29,531 | ||||
| Audit fees | 31,500 | 5,500 | 37,000 | 31,819 | |||
| Trustees meeting | 6,316 | 6,316 | 219 | ||||
| expenses | |||||||
| Compliance | expenses | 843 | 843 | 13 | |||
| Legal and professional | |||||||
| fees | ~51 | 639 | 2,384 | 54,023 | 19,906 | ||
| 144,725 | 90,298 | 17989 | ~253 012 | ~165 113 | |||
| PARENT CHARITY'S | CHARITABLE | ACTIVITIES | COSTS | ||||
| Direct | Support | ||||||
| Costs (see | costs (see | ||||||
| note 6) | note 7) | Totals | |||||
| 8 | 8 | ||||||
| Church | 4,954,899 | 4,954,899 | |||||
| Support Cost | 193,508 | 193,508 | |||||
| Governance | 90298 | 90298 | |||||
| 4~954 8 | ~23 06 | 5238 705 |
| ANALYSIS OF PAR | ENT | CHARITY'S DIRECT CO | STSOF CHARIT | ABLE ACTIV | ITIES |
|---|---|---|---|---|---|
| 2021 | 2020 | ||||
| 8 | |||||
| Staffcosts Church planting 0evangelism |
1,454,273 175,563 |
1,536,980 133,325 |
|||
| Women's Ministry expenses |
16,660 | 13,577 | |||
| Children's Ministry expenses |
8,599 | 1,251 | |||
| Retreats, conferences | and seminars | 31,282 | 37,242 | ||
| Gitb, welfare and charitable | donations | 166,462 | 210,462 | ||
| Premises expenses | 436,082 | 498,904 | |||
| Rent for churches lit menses |
934,294 | 797,597 | |||
| Motor, travel, accommodation | dr subsistence | 353,852 | 253,051 | ||
| Presiding Elders expenses |
11,433 | 6,700 | |||
| Volunteer expenses |
25,083 | 13,840 | |||
| Equipment maintenance |
72,445 | 69,040 | |||
| PEMEM expenses | 1,458 | 500 | |||
| Birmingham College donation |
277,489 | 204,432 | |||
| Congregational insurance |
63,168 | 58,874 | |||
| Bank charges | 18,163 | 18,177 | |||
| Youth Ministry expenses |
11,637 | 8,342 | |||
| Audio visual expenses | 17,778 | 532 | |||
| Souvenirs k, calendars | expenses | 10,749 | 10,400 | ||
| Blankson Foundation | expense | 10,400 | 5,650 | ||
| General charitable expenses |
200 | 2,954 | |||
| Gain on disposal | (11,248) | (2,749) | |||
| Depreciation | 756,372 | 761,856 | |||
| Interest payable and similar charges | 112701 | 115491 | |||
| 4954899 | 4,756,428 | ||||
| Sb.PARENT CHARITY'S | SUPPORT COSTS | ||||
| Governance | |||||
| Other | costs | Totals | |||
| 8 | |||||
| Support Cost | 193,508 | 193,508 | |||
| Governance | ~90298 | ~90 298 | |||
| ~193 508 | ~90 298 | ~283 806 | |||
| Support costs, included | in the | above, are as follows; | |||
| OTHER | |||||
| 2021 | 2020 | ||||
| Support | Total | ||||
| Cost | activities | ||||
| 8 | 8 | ||||
| Training expenses | 62,594 | 18,056 | |||
| General administration | expenses | 1,573 | 234 | ||
| Travel and subsistence | expenses | 1,199 | 730 | ||
| Printing, postage 8s stationery |
expenses | 28,133 | 25,490 | ||
| Telephone ttt internet expenses |
37,154 | 37,586 | |||
| Soihrare and website | expenses | ~62 855 | 29531 | ||
| 193,508 | 111,627 |
| GOVERNANCE COS |
TS | |||
|---|---|---|---|---|
| 2021 | 2020 | |||
| Total | ||||
| Governance | activities | |||
| 8 | ||||
| Audit fees | 31,500 | 31,819 | ||
| Trustees meeting expenses | 6,316 | 219 | ||
| Compliance expenses |
843 | 13 | ||
| Legal and professional | fees | 51,639 | 17,770 | |
| 90,298 | ~49 821 | |||
| 9. | NET INCOME/(EXPENDITURE) | |||
| Net income/(expenditure) | is stated after charging/(crediting): | |||
| 2021 | 2020 | |||
| 8 | 8 | |||
| Depreciation - owned assets | 794,450 | 761,855 | ||
| 10. | STAFF COSTS | |||
| 2021 | 2020 | |||
| 8 | ||||
| Wages and salaries | 1,337,744 | 1,378,243 | ||
| Social security costs | 18,569 | 11,755 | ||
| Other pension costs | 183,641 | 179299 | ||
| 1,539,954 | 1,565,297 |
| 2021 | 2020 | |
|---|---|---|
| Pastors | 38 | 38 |
| Finance | 4 | 3 |
| Administrative | 16 | 15 |
| Academic | 3 | 1 |
| 61 | 57 |
| GROUP TANGIBLE FIXEDASSETS | |||
|---|---|---|---|
| Freehold | Long | Plant and | |
| property | leasehold | machinery | |
| 8 | 8 | 8 | |
| COST | |||
| At 1stJanuary 2021 | 15,582,422 | 3,050,439 | 1,308,659 |
| Additions Disposals |
1,068,867 | 195,469 | 105,621 ~33.364) |
| At 31stDecember 2021 | 16,651,289 | 3,245,908 | 1,380,916 |
| DEPRECIATION | |||
| At 1stJanuary 2021 | 2,540,125 | 438,955 | 1,031,951 |
| Charge for year Eliminated on disposal |
283,787 | 67,718 | 170,779 ~33364) |
| At 31stDecember 2021 | 2 823 912 | 506 673 | 1169366 |
| NKT BOOK VALUE | |||
| At 31stDecember 2021 | 13 827 377 | 2739235 | 211 55D |
| At 31stDecember 2020 | 13042,297 | 2,611,484 | 276,708 |
| TANGIBLE FIXEDASSETS - continued | |||
| Fixtures | |||
| and | Motor | ||
| fittings | vehicles | Totals | |
| 8 | |||
| COST | |||
| At 1stJanuary 2021 | 1,401,948 | 832,573 | 22,176,041 |
| Additions Disposals |
39,258 ~575491) |
108,306 ~3D8930) |
1,517,521 ~917705) |
| At 31stDecember 2021 | 865,715 | 631949 | 22,775,777 |
| DEPRECIATION | |||
| At 1stJanuary 2021 | 1,062,498 | 682,803 | 5,756,332 |
| Charge for year Eliminated on disposal |
179,483 ~575,497) |
92,683 ~306,676) |
794,450 ~9)5531) |
| At 31stDecember 2021 | 666490 | 468,810 | 5,635,251 |
| NKT BOOK VALUE | |||
| At 31stDecember 2021 | 199225 | 163,139 | 17,140,526 |
| At 31stDecember 2020 | 339,450 | 149,770 | 16,419,709 |
| PARENT CHARITY TANGIBLE FIXE | DASSETS | ||
|---|---|---|---|
| Freehold | Long | Plant and | |
| property | leasehold | machinery | |
| 8 | 8 | 8 | |
| COST | |||
| At 1stJanuary 2021 | 15,582,422 | 1,873,217 | 1,271,607 |
| Additions Disposals |
1,068,867 | 105,621 ~33,364) |
|
| At 31stDecember 2021 | 16,651209 | 1,873,217 | 1,343,864 |
| DEPRECIATION | |||
| At 1stJanuary 2021 | 2,540,125 | 438,955 | 1,031,951 |
| Charge for year Eliminated on disposal |
283,787 | 37,464 | 162,249 ~33,364 |
| At 31stDecember 2021 | 2,823,912 | 476,419 | 1,160,836 |
| NET BOOK VALUE | |||
| At 31stDecember 2021 | 13,827,377 | 1,396,798 | 183.028 |
| At 31stDecember 2020 | 13,042,297 | 1,434,262 | 239,656 |
| Fixtures | |||
|---|---|---|---|
| and | Motor | ||
| fittings | vehicles | Totals | |
| E | E | ||
| COST | |||
| At 1stJanuary 2021 | 1,393,203 | 832,573 | 20,953,022 |
| Additions Dispo sale |
39,258 ~575 491 |
108,307 ~308030) |
1,322,053 ~917785) |
| At 31stDecember 2021 | 856970 | 631950 | 21,35729D |
| DEPRECIATION | |||
| At 1stJanuary 2021 | 1,062,498 | 682,803 | 5,756,332 |
| Charge foryear Eliminated on disposal |
179,483 ~575,491) |
92,683 ~306676) |
755,666 ~9)5,53)) |
| At 31stDecember 2021 | 666 49D | 468,810 | 5 596467 |
| NET BOOK VALUE | |||
| At 31stDecember 2021 | 19D 48D | 163,140 | 15760 823 |
| At 31stDecember 2020 | 330,705 | 149,770 | 15,196,690 |
| 2021 | 2020 | ||||
|---|---|---|---|---|---|
| 8 | g | ||||
| Gift aid | 361,705 | 120,000 | |||
| Staff loan | 18,161 | 10,111 | |||
| Debtors and prepayments | ~226 729 | ~55 619 | |||
| 606,595 | 185,730 | ||||
| 12b | PARENT CHARITY DEBTORS:AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||
| 2021 | 2020 | ||||
| f | g | ||||
| Gift aid | 361,705 | 120,000 | |||
| Staff loan | 18,161 | 10,111 | |||
| Debtors &prepayments | ~138873 | 47 123 | |||
| 518739 | 177234 | ||||
| 13. | GROUP | CREDITORS: AMOUNTS FALLING | DUE WITHIN ONE YEAR | ||
| 2021 | 2020 | ||||
| g | |||||
| Bank loans and overdrafts | (see note 15) | 331,001 | 475,253 | ||
| Other creditors | 206,252 | 200,306 | |||
| Accruals | and deferred income | 39450 | 30905 | ||
| 576,703 | 706,464 | ||||
| 14 | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR(PARENT CHARITY) | ||||
| 2021 | 2020 | ||||
| g | |||||
| Bank loans and overdrafts | (see note 15) | 356,859 | 475,253 | ||
| Other creditors | 156,571 | 182,429 | |||
| Accruals | and deferred income | ~30 904 | 30,904 | ||
| 15. | GROUP | CREDITORS: AMOUNTS FALLING | DUE AFTER MORE THAN ONE YEAR | ||
| 2021 | 2020 | ||||
| 8 | |||||
| Bank loans (see note 15) | ~3186414 | 3,630,568 | |||
| 16. | LOANS | ||||
| An analysis ofthe maturity | ofloans is given below: | ||||
| 2021 | 2020 | ||||
| f | |||||
| Amounts | falling due within one year on demand: | ||||
| Bank loans | 331001 | 475,253 | |||
| Amounts | falling due between two and five years: | ||||
| Bank loans - 2-5 years | 3 186414 | 3,630,568 |
| 2021 | 2020 | ||||||
|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||||
| fund | fund | funds | funds | ||||
| 8 | f. | ||||||
| Fixed assets | 16,275,897 | 864,629 | 17,140,526 | 16,419,709 | |||
| Current assets |
2,662,092 | 1,643,973 | 4,306,065 | 3,928,638 | |||
| Current liabilities Long term liabilities |
(576,703) ~3)86414) |
(576,703) ~3)86 414 |
(706,464) ~3 630.568) |
||||
| 15 174872 | 2 508602 | 17,683,474 | 16,011,315 | ||||
| GROUP MOVEMENT IN FUNDS | |||||||
| Net | |||||||
| movement | At | ||||||
| At 1.1.21 | in funds | 31.12.21 | |||||
| 8 | |||||||
| Unrestricted | funds | ||||||
| General fund | 13,776,011 | 1,398,861 | 15,174,872 | ||||
| Restricted funds |
|||||||
| Restricted Fund | 2,235,304 | 273,298 | 2,508,602 | ||||
| TOTAL FUNDS | 16011,315 | 1672159 | 17,683474 | ||||
| Net movement | in funds, included | in the | above | are as follows: | |||
| Incoming | Resources | Movement | |||||
| resources | expended | in funds | |||||
| 8 | 8 | 8 | |||||
| Unrestricted | funds | ||||||
| General fund | 6,694,376 | (5,295,515) | 1,398,861 | ||||
| TOTAL FUNDS | 6694376 | ~52955)5) | 1,398861 |
| Net | |||||
|---|---|---|---|---|---|
| movement | At | ||||
| At 1.1.20 | in funds | 31.12.20 | |||
| f | 8 | ||||
| Unrestricted | funds | ||||
| General fund | 12,634,515 | 1,141,496 | 13,776,011 | ||
| Restricted | funds | ||||
| Restricted | Fund | 1,089,101 | 1,146,203 | 2,235,304 | |
| TOTAL FUNDS | 13723 616 | 2 287,699 | 16,011,315 |
| Incoming | Resources | Gains and | Movement | |
|---|---|---|---|---|
| resources | expended | losses | in funds | |
| 8 | ||||
| Unrestricted funds |
||||
| General fund | 5,727,837 | (4,943,176) | 356,835 | 1,141,496 |
| Restricted funds | ||||
| Restricted Fund | 281,574 | 864,629 | 1,146,203 | |
| TOTAL FUNDS | 6 999411 | ~4941 176 | I 221 464 | ~267699 |
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 1.1.20 | in funds | 31.12.21 | |
| Unrestricted funds |
|||
| General fund | 12,634,515 | 2,540,357 | 15,174,872 |
| Restricted funds | |||
| Restricted Fund | 1,089,101 | 1,419,501 | 2,508,602 |
| TOTAL FUNDS | 13,723,616 | 3959,858 | 17683474 |
| Incoming | Resources | Gains and | Movement | ||
|---|---|---|---|---|---|
| resources | expended | losses | in funds | ||
| 8 | 8 | ||||
| Unrestricted | funds | ||||
| General fund | 12,706,617 | (10,249,797) | 356,835 | 2,813,655 | |
| Restricted funds |
|||||
| Restricted Fund | 281,574 | 864,629 | 1,146,203 | ||
| TOTAL FUNDS | 12988)91 | )102497971 | 1221464 | 3959858 | |
| ANALYSIS OFPARENT CHARITY NET ASSETS BETWEEN FUNDS | |||||
| 2021 | 2020 | ||||
| Unrestricted | Restricted | Total | Total | ||
| funds | fund | funds | funds | ||
| 8 | 8 | ||||
| Fixed assets | 15,760,823 | 15,760,823 | 15,196,690 | ||
| Current assets | 2,542,868 | 1,643,973 | 4,186,841 | 3,887,321 | |
| Current liabilities Long term liabilities |
(544,334) ~3)06,4)4) |
(544,334) ~3,)864)4) |
(688,586) ~3630568) |
||
| 14572 943 | 1643973 | 16216916 | 14 764 857 |
| Net | ||||
|---|---|---|---|---|
| movement | At | |||
| At 1.1.21 | in funds | 31.12.21 | ||
| 8 | 8 | |||
| Unrestricted | funds | |||
| General fund | 13,394,182 | 1,178,761 | 14,572,943 | |
| Restricted funds | ||||
| Charitable activities |
1,370,675 | 273,298 | 1,643,973 | |
| TOTAL FUNDS |
| Incoming | Resources | Movement | |||
|---|---|---|---|---|---|
| resources | expended | in funds | |||
| f. | |||||
| Unrestricted | funds | ||||
| General fund | 6,407,066 | (5,228,305) | 1,178,761 | ||
| Restricted funds | |||||
| Charitable activities |
283,698 | (10,400) | 273,298 | ||
| TOTAL FUNDS | 669D764 | ~5238,7D5 | 3,452059 | ||
| Comparatives | for movement | in funds | |||
| Net | |||||
| movement | At | ||||
| At 1.1.20 | in funds | 31.12.20 | |||
| 8 | |||||
| Unrestricted | funds | ||||
| General fund | 12,634,515 | 759,667 | 13,394,182 | ||
| Restricted funds | |||||
| Charitable activities |
1,089,101 | 281,574 | 1,370,675 | ||
| TOTAL FUNDS | 13723 616 | 1,041,241 | 14,764,857 |
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| Unrestricted funds |
|||
| General fund | 5,677,543 | (4,917,876) | 759,667 |
| Restricted funds | |||
| Charitable activities |
281,574 | 281,574 | |
| TOTAL FUNDS |
| Net | ||||
|---|---|---|---|---|
| movement | At | |||
| At 1.1.20 | in funds | 31.12.21 | ||
| 8 | ||||
| Unrestricted | funds | |||
| General fund | 12,634,515 | 1,938,428 | 14,572,943 | |
| Restricted funds | ||||
| Charitable activities |
1,089,101 | 554,872 | 1,643,973 | |
| TOTAL FUNDS | 13723616 | 2 493 30D | 16216916 |
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| Unrestricted funds |
|||
| General fund | 12,084,609 | (10,146,181) | 1,938,428 |
| Restricted funds | |||
| Charitable activities |
565,272 | (10,400) | 554,872 |
| TOTAL FUNDS | 12640001 | ~10136301 | 2493300 |
| Fund | As at 1.1.21 | Incoming | Expenditure | As at31.12.2021 |
|---|---|---|---|---|
| 8 | 8 | f, | f, | |
| BCC | 14,994 | 14,994 | ||
| Retirement | 140,702 | 15,118 | 155,820 | |
| Motor van | 11,380 | 11,380 | ||
| Building Blankson Foundation |
2,005,753 77469 |
246,493 7093 |
~10400 | 2,252,246 74 162 |
| 2~25 3D4 | 2836 8 | 10400 | 25086712 |
| Fund | As at 1.1.21 | Incoming | Expenditure | As at31.12.2021 |
|---|---|---|---|---|
| f | 6 | |||
| BCC | 14,994 | 14,994 | ||
| Retirement | 140,702 | 15,118 | 155,820 | |
| Motor van | 11,380 | 11,380 | ||
| Building Blankson Foundation |
1,141,124 77469 |
246,493 7003 |
~ID 400 | 1,387,617 74 162 |
| I 370675 | 283698 | 10400 | I 013 973 |
| Fund | As at 1.1.21 | Incoming | Expenditure | As at 31.12.2021 |
|---|---|---|---|---|
| 6 | ||||
| BCC | 14,994 | 14,994 | ||
| Retirement | 140,702 | 15,118 | 155,820 | |
| Motor van | 11,380 | 11,380 | ||
| Building | 2,005,753 | 246,493 | 2,252,246 | |
| Blankson Foundation | 77469 | 7 D93 | 10400 | 74 162 |
| 2 235304 | 283 698 | 10400 | ~25 8602 |
| Fund | As at 1.1.21 | Incoming | Expenditure | As at 31.12.2021 |
|---|---|---|---|---|
| 6 | ||||
| BCC | 14,994 | 14,994 | ||
| Retirement | 140,702 | 15,118 | 155,820 | |
| Motor van | 1],380 | 11,380 | ||
| Building Blankson Foundation |
1,141,124 7~746 |
246,493 7D93 |
~10.4001 | 1,387,617 74.162 |
| 1 370675 | 2113698 | ~10400 | 1 643973 |
| 2020 | |||
|---|---|---|---|
| 8 | |||
| Leasehold properties | 1,170,433 | ||
| Plant snd machinery | 40,119 | ||
| Cash and bank | 26,636 | ||
| Creditors due | within one year | ~15724 | |
| 1,221,464 | |||
| Consideration | transferred | nil | |
| Gain on acquisition ofsubsidiary | BCC |
| 8 | ||
|---|---|---|
| Restricted reserves ofthe subsidiary | 864,629 | |
| Unrestricted | reserves - designated | 23,453 |
| Unrestricted | reserves —not designated | 333382 |
| 2021 | 2020 | |
|---|---|---|
| 8 | ||
| Within one year | 9,157 | 9,157 |
| In one to two years | 9,157 | 9,157 |
| In two to five years | 6,361 | 15,518 |
| 24 675 | ~32 |
| FOR | THE YEAR ENDED 31STD | ECEMBER 2021 | ||
|---|---|---|---|---|
| 2021 | 2020 | |||
| INCOME AND ENDOWMENTS | ||||
| Donations and legacies |
||||
| Tithes and offerings | 5,927,942 | 5,227,966 | ||
| Joint services offering | 58,653 | 17,309 | ||
| Gift aid receivable | 300,000 | 311,817 | ||
| Blankson Foundation donations |
7,093 | 13,928 | ||
| Youth Ministry | 296 | 352 | ||
| Joint Ministries offering |
49,780 | 17,005 | ||
| Welfare disaster offering | 1,500 | |||
| Pension offering | 15,118 | 197 | ||
| Building Fund offering | 246,493 | 256,069 | ||
| Van offering | 11,380 | |||
| Donations received by BCC |
15,174 | 4,249 | ||
| 6,620,549 | 5,861,772 | |||
| Investment income |
||||
| Deposit account interest | 229 | 1,251 | ||
| Charitable activities |
||||
| Other income | 14,860 | 38,680 | ||
| Rental income | 155,608 | 85,981 | ||
| Academic income |
187,534 | 21,727 | ||
| 33II002 | 146388 | |||
| Total incoming resources |
6,978,780 | 6,009,411 | ||
| EXPENDITURE | ||||
| Charitable activities |
||||
| Wages | 1,337,744 | 1,378,243 | ||
| Social security | 18,569 | 11,755 | ||
| Pensions | 183,641 | 175,299 | ||
| Church plant 0tt evangelism |
175,563 | 133,325 | ||
| Women's Ministry expenses |
16,660 | 13,577 | ||
| Children's Ministry expenses |
8,599 | 1,251 | ||
| Retreats and conferences | 31,282 | 37,271 | ||
| Gifts, welfare 0tt donations |
166,462 | 248,635 | ||
| Premises expenses Rent - churches k manses |
586,598 934,294 |
498,904 797,597 |
||
| Motor, travel, subsistence | and accommodation | 353,852 | 255,800 | |
| Presiding Elders expenses | 11,433 | 6,700 | ||
| Volunteer expenses |
25,083 | 13,840 | ||
| Equipment maintenance |
72,445 | 69,040 | ||
| PEMEM expenses | 1,458 | 500 | ||
| Donations to Birmingham | Christian | College | 97,842 | |
| Insurance | 77,406 | 63,502 | ||
| Carried forward | 4,001,089 | 3,803,081 |
| FOR THE YEAR E DED I | TD EMBER2021 |
||||
|---|---|---|---|---|---|
| 2021 | 2020 | ||||
| 8 | |||||
| Charitable activities |
|||||
| Brought forward | 4,001,089 | 3,803,081 | |||
| Bank charges | 18,924 | 18,307 | |||
| Youth Ministry expenses |
11,637 | 8,342 | |||
| Audio visual expenses | 17,778 | 532 | |||
| Souvenirs dt calendars |
expenses | 10,749 | 10,400 | ||
| Blankson Foundation expenses |
10,400 | 5,650 | |||
| General charitable expenses |
202 | 2,954 | |||
| Gain/(loss) on disposal |
(11,248) | (2,749) | |||
| Communication cost |
23,551 | 16,012 | |||
| Freelance consultants | 18,575 | 7,851 | |||
| Validation & accreditation fee Course development k research |
22,765 | 4,680 5,992 |
|||
| Other professional fees |
4,038 | ||||
| Library expenses | 8,593 | ||||
| Advertising and marketing |
9,232 | ||||
| Student bursaries | 3,500 | ||||
| BCCDepreciation charge |
15,626 | ||||
| Depreciation-Freehold | property | 283,786 | 263,405 | ||
| Depreciation-Long leasehold |
67,718 | 37,464 | |||
| Depreciation-Plant and |
machinery | 170,780 | 169,653 | ||
| Depreciation-Fixtures and fittings |
179,483 | 202,945 | |||
| Depreciation-Motor vehicles |
92,684 | 88,389 | |||
| Interest payable | 112,705 | 115,491 | |||
| 5,052,903 | 4,778,063 | ||||
| Support costs | |||||
| Other | |||||
| Training expenses |
16,069 | 18,056 | |||
| General administration | expense | 2,925 | 609 | ||
| Travel and subsistence | 2,253 | 1,837 | |||
| Printing, postage &telephone |
32,857 | 25,537 | |||
| Telephone and internet |
37,154 | 37,586 | |||
| Software and website | 63,572 | 29,531 | |||
| 154,830 | 113,156 | ||||
| Governance costs |
|||||
| Audit fees | 37,000 | 31,819 | |||
| Trustees meeting expenses | 6,316 | 219 | |||
| Compliance expenses |
843 | 13 | |||
| Legal and professional | fees | sk 023 | 19 906 | ||
| 98,182 | 51957 | ||||
| Total resources expended | 5,306,621 | ~4,943 176 | |||
| Net income before gains | and losses | I 672 159 | 1066 235 | ||
| Realised recognised gains |
and losses | ||||
| Camed forward | 1,672,159 | 1,066,235 |