| Page | 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 flinancial statements | 26 | to | 42 | |
| Detailed statement offinancial activities | 43 | to | 44 |
| The aggregate amo |
unt paid to key man | agement personn |
el during the |
year is | detailed below; | |
|---|---|---|---|---|---|---|
| Name | Position | ~Sala | ~Eh | P | 2022 | 2021 |
| Rev EDonkor Rev0Afriyie |
National Head National Head |
645,030 f35,109 |
f,5,190 64,710 |
f50,220 839,819 |
f32,778 f51,591 |
|
| Rev J Sam Rev G Korankye |
Area Head Area Head |
f25,777 f44,302 |
f9,386 f5,466 |
f35,163 f49,768 |
f41,266 847,421 |
|
| Rev EDanso Rev K F- Boadu Rev EYAppiah Rev M Tedeku |
District Pastor National Sec Area Head Area Head |
638,380 &l2,502 $35,902 f39,652 |
85,190 84,286 f5,286 f5,466 |
f43,570 f46,788 f41,188 f45,118 |
f41,119 f38,046 f38,946 f42,021 |
|
| Rev A Arthur | Area Head' | 440 380 | g5 190 | f45 570 | &10819 | |
| 8347034 | 850 170 | X~397 20' | 6~3740 7 |
| Name | Position | 2022 | 2021 | |
|---|---|---|---|---|
| Rev0Airiyie | National | Head | f604 | f5,660 |
| Rev K F- Boadu | National | Sec | f165 | |
| Rev EYAppiah | Area Head | E!35 | ||
| Rev EDanso | District | Pastor | 665 | |
| Rev EDonkor | BCC Principal | f54 | ||
| Rev JSam | Area Head | 6100 | ||
| Elder JAdomako | National | Deacon | K1 405 | |
| K2 309 | f5 879 |
| 2022 | 2021 | ||||||
|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||||
| fund | fund | funds | funds | ||||
| Notes | |||||||
| INCOME | AND ENDOWMENTS FROM | ||||||
| Donations | and legacies | 2a | 7,504,418 | 832,288 | 8,336,706 | 6,619,843 | |
| Charitable | activities | ||||||
| Church | 4a | 59,334 | 59,334 | 70,167 | |||
| BCC | 4a | 375,813 | 375,813 | 287,835 | |||
| Investment | income | 3 | 4122 | 4 122 | 229 | ||
| Total | 7,943 687 | 832 2II8 | 8,773 973 | 6,978,674 | |||
| EXPENDITURE ON | |||||||
| Charitable | activities | ||||||
| Church | 6,757,103 | 17,000 | 6,774, 103 | 4,676,706 | |||
| Support cost | 191,964 | 191,964 | 144,725 | ||||
| Governance | 72,180 | 72,180 | 90,298 | ||||
| BCC | 661,789 | 661,789 | 394,186 | ||||
| Total | 7,683,036 | 17,000 | 7,700,036 | 5,305,915 | |||
| NET INCOME | 260,651 | 815,288 | 1,075,939 | 1,672,159 | |||
| RECONCILIATION | OF FUNDS | ||||||
| Total funds brought | forward | 15,174,872 | 2,508,602 | 17,683,474 | 16,011,315 | ||
| TOTAL FUNDS CARRIED FORWARD | 15,435,523 | 3,323,890 | 18,759,413 | 17,683,474 |
| 2022 | 2021 | ||||||
|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||||
| funds | fund | funds | funds | ||||
| Notes | 8 | ||||||
| INCOME | AND ENDOWMENTS FROM | ||||||
| Donations | and legacies | 2c | 7,501,252 | 682,288 | 8,183,540 | 6,620,368 | |
| Charitable | activities | 4 | |||||
| Church | 4b | 59,334 | 59,334 | 70,167 | |||
| Investment | income | 3 | 4,122 | 4,122 | 229 | ||
| Total | 7364708 | 682288 | 8246996 | 6690764 | |||
| EXPENDITURE ON | |||||||
| Charitable | activities | ||||||
| Church | 7,347,336 | 17,000 | 7,364,336 | 4,954,899 | |||
| Support Cost | 289,915 | 289,915 | 193,508 | ||||
| Governance | 72,180 | 72,180 | 90,298 | ||||
| Total | 7,709,431 | 17,000 | 7,726,431 | 5,238,705 | |||
| NET INCOME | (144,723) | 665,288 | 520,565 | 1,452,059 | |||
| RECONCILIATION | OF FUNDS | ||||||
| Total funds brought | forward | 14,572,943 | 1,643,973 | 16,216,916 | 14,764,857 | ||
| TOTAL FUNDS CARRIED FORWARD | 14428220 | 2 309 261 | 16737481 | 16216916 |
| CON | L | ATE | F | CIAL | ON | |||
|---|---|---|---|---|---|---|---|---|
| P~gggMtut | 2(g2 | |||||||
| 2022 | 2021 | |||||||
| Notes | 8 | 8 | ||||||
| FIXEDASSETS | ||||||||
| Tangible assets | 1la | 18,767,036 | 17,140,526 | |||||
| CURRENT ASSETS | ||||||||
| Debtors | 12a | 994,294 | 606,595 | |||||
| Cash at bask | ~344 305 |
~3699470 | ||||||
| 4,442,599 | 4,306,065 | |||||||
| CREDITORS | ||||||||
| Amounts falling due within one year |
13 | (684,508) | (576,703) | |||||
| NET CURRENT ASSETS | 3758091 | ~3729362 | ||||||
| TOTAL ASSETSLESSCURRENT | ||||||||
| I IABILITIES | 22,525,127 | 20,869,888 | ||||||
| CREDITORS | ||||||||
| Amounts falliog due after more than one |
year | 15 | (3,765,714) | (3,186,414) | ||||
| NET ASSETS | ~18 759413 | ~17 683,474 | ||||||
| FUNDS | 17 | |||||||
| Unrestricted funds |
15,435,523 | 15,174,872 | ||||||
| Restricted funds | ~3323890 | ~2508 602 | ||||||
| TOTAL FUNDS | ~tg 759413 | ~17683 474 |
| Notes | 2022 f |
2021 f |
||
|---|---|---|---|---|
| FIXEDASSETS | ||||
| Tang tl&le assets | 11(b) | 16,796,556 | 15,760,$23 | |
| CURRENT ASSETS | ||||
| Debtors | 12(b) | 894,866 | 518,739 | |
| Cash at bank | ~343 109 |
~3668 102 | ||
| 4,326,975 | 4,186,841 | |||
| CREDITORS | ||||
| Amounts falling due within |
one year | 13(b) | (620,336) | (544,334) |
| NET CURRENT ASSETS | 3706639 | ~3642 507 | ||
| TOTAL ASSETSLESSCURRENT | ||||
| LIABILITIES | 20,503,195 | 19,403,330 | ||
| CREDITORS | ||||
| Amounts falling due ager more than one year |
14 | (3,765,714) | (3,186,414) | |
| NET ASSETS | 16737481 | ~16216916 | ||
| FUNDS | 17 | |||
| Unrestricted funds: |
||||
| General fund | 14,428,220 | 14,572943 | ||
| Restricted funds: | ||||
| Charitable activities |
~209261 | ~1643.973 | ||
| TOTAL FUNDS | ~16737481 | ~16 16916 |
| FORTHE | YEAR ENDED 3 | 1STDECEMBER 2022 | |||
|---|---|---|---|---|---|
| 2022 | 2021 | ||||
| Notes | 8 | 8 | |||
| Cash tlows from operating | activities | ||||
| Cash generated from operations |
I | 1,677,750 | 2,161,463 | ||
| Interest paid | ~167,199 | ~112,795 | |||
| Net cash provided by operating activities |
1,510,551 | 2,048,758 | |||
| Cash flows from investing | activities | ||||
| Purchase oftangible fixed |
assets | (2,383,783) | (1,476,122) | ||
| Sale oftangible fixed assets | 4,502 | ||||
| Interest received | 229 | ||||
| Net cash used in investing | activities | ~279,6617 | I 471391 | ||
| Cash flows from financing | activities | ||||
| New loans in year | 1,083,615 | ||||
| Loan repayments in year Capital element ofHP rental |
452,734 ~12.936 |
(608,689) ~12116 |
|||
| Net cash (used in)/provided | by financing | activities | 617945 | 620 05 | |
| Change in cash and cash |
equivalents | in | |||
| the reporting period |
(251,165) | (43,438) | |||
| Cash and cash equivalents | at the | ||||
| beginning ofthe reporting |
period | 3 69947D | 3,742,908 | ||
| Cash and cash equivalents | at the end | of | |||
| the reporting period |
3,448,305 | 3,699,470 |
| RECONCILIATIO ACTIVITIES |
N OF NE |
T INCOME TO NKT CASH FLOW | FROM OPERATIN | G |
|---|---|---|---|---|
| 2022 | 2021 | |||
| f. | ||||
| Net income for the | reporting | period (as per the Statement of | ||
| financial activities) | 1,075,939 | 1,672,159 | ||
| Adjustments for: |
||||
| Profit on disposal offixed assets | (11,248) | |||
| Depreciation charges |
835,868 | 794,450 | ||
| Interest received | (4,122) | (229) | ||
| Interest paid | 167,199 | 112,705 | ||
| Increase in debtors Increase/(decrease) |
in creditors | (387,699) ~9,435 |
(420,865) 14,491 |
|
| Net sash provided | by operations | 1,677,750 | 2,161,463 |
| ANALYSIS OF CHAN | GES IN NET (DEBT)/FUN | DS | ||
|---|---|---|---|---|
| At 1.1.22 | Net change | At31.12.22 | ||
| Net cash | ||||
| Cash at bank and in hand | 3699470 | ~257J65 | 34483D5 | |
| 3 69947D | ~251165 | 3 448 3D5 | ||
| Debt | ||||
| Debts falling due within Debts falling due after 1 |
1 year year |
(331,001) ~3186,434 |
(117,240) ~579 3DD |
(448/41) ~3765 71~ |
| ~3,577,415 | ~696,540 | ~413,955 | ||
| Total | 102D55 | ~947 7D | ~765 65D | |
| Net change in debt is made | up of: | |||
| Net cash inflows from financing | 617,945 | |||
| Non-cash changes New Hire Purchase Contracts | 78 595 | |||
| 696540 |
| 2022 | 2021 | |||||
|---|---|---|---|---|---|---|
| Notes | f | f | ||||
| Cash flows from operating | activities | |||||
| Cash generated from operations Interest paid |
(lb) | 1,074,578 ~)67,)99 |
1,941,590 ~))2,705 |
|||
| Net cash provided by operating activities |
907,379 | 1,828,885 | ||||
| Cash flows from investing | activities | |||||
| Purchase oftangible fixed | assets | (1,739,581) | (1,280,654) | |||
| Sale oftangible fixed assets Interest received |
~4122 | 4,502 229 |
||||
| Net cash used in investing | activities | ~1735,459) | ~l75 923) | |||
| Cash flows from financing | activities | |||||
| New loans in year | 1,083,615 | |||||
| Loan repayments in year Capital element ofHP rental |
(478,592) ~)2,935 |
(582,831) ~)2,))6 |
||||
| Net cash (used in)/provided | by financing | activities | 592 087 | ~594947) | ||
| Change in cash and cash |
equivalents | in | ||||
| the reporting period |
(235,993) | (41,985) | ||||
| Cash and cash equivalents | at the | |||||
| beginning ofthe reporting |
period | 3,668,102 | 3,710,087 | |||
| Cash nnd cash equivalents | at the end of | |||||
| the reporting period |
3,432,109 | 3 668,102 |
| Ib | RECONCILIATIO ACTIVITIES |
N OF NK |
T INCOME TO NET CASH FLOW | FROM OPERATIN | G |
|---|---|---|---|---|---|
| 2022 | 2021 | ||||
| Net income for the | reporting | period (as per the Statement of | |||
| financial activities) |
520,565 | 1,452,059 | |||
| Adjustments for: |
|||||
| Depreciation charges |
782,443 | 755,666 | |||
| Profit on disposal offixed assets | (11,248) | ||||
| Interest received | 4,122) | (229) | |||
| Interest paid | 167,199 | 112,705 | |||
| Increase in debtors (Decrease)/increase |
in creditors | (376,127) ~55,380 |
(341,505) ~25 830 |
||
| Net cash provided | by operations | 1,074 578 | 1 041 590 | ||
| 2b. | ANALYSIS OFCHANGES IN NET (DEBT)/FUNDS |
| At 1.1.22 | Net change | At 31.12.22 | ||||
|---|---|---|---|---|---|---|
| Net cash | ||||||
| Cash at bank and in | hand | 3 660102 | ~235,993 | 3 432 109 | ||
| 3,668,102 | ~235,993 | 3432,1D9 | ||||
| Debt | ||||||
| Debts falling due within Debts falling due after 1 |
1 year year |
(356,859) ~3186414 |
(91,382) ~579300 |
(448,241) ~3,765,744 |
||
| ~3543273 | ~670602 | ~4213955 | ||||
| Total | 124,829 | (906,675) | (781.846) | |||
| Change in net debt is made up ofthe | following: | |||||
| Net cash flows from financing | 592,087 | |||||
| Non cash changes-New | Hire Purchase | Contracts | 78 595 | |||
| 670682 |
| GROUP DONATION | S AND LEGACIES |
||
|---|---|---|---|
| 2022 | 2021 | ||
| 8 | 8 | ||
| Tithes and offerings | 6,771,605 | 5,927,236 | |
| Joint services offering | 31,185 | 58,653 | |
| Gift aid receivable | 400,000 | 300,000 | |
| Blankson Foundation | donations | 16,529 | 7,093 |
| Youth conference | 263,132 | 296 | |
| Joint Ministries offering |
35,329 | 49,780 | |
| Pension offering | 16,293 | 15,118 | |
| Building Fund ofFering |
627,089 | 246,493 | |
| BCC Offerings | 22,377 | 14,994 | |
| Donations received by |
BCC | 153,167 | 180 |
| 8,336,706 | 6,619,843 |
| GROUP CLASSIFIC | ATION OF D | ONATIONS AND L |
EGACIES | ||
|---|---|---|---|---|---|
| 2022 | 2021 | ||||
| Unrestricted | Restricted | Total | Total | ||
| funds | funds | funds | funds | ||
| 8 | |||||
| Tithes and offerings | 6,771,605 | 6,771,605 | 5,927,236 | ||
| Joint services offering | 31,185 | 31,185 | 58,653 | ||
| Gilt aid receivable | 400,000 | 400,000 | 300,000 | ||
| Blankson Foundation | donations | 16,529 | 16,529 | 7,093 | |
| Youth conference | 263,132 | 263,132 | |||
| Joint Ministries offering |
35,329 | 35,329 | 50,076 | ||
| BCC offerings | 22 377 | 22,377 | |||
| Donations received by | BCC | 3,167 | 150,000 | 153,167 | 15,174 |
| Pension offering | 16,293 | 16,293 | 15,118 | ||
| Building Fund offering | ~627 089 | 627,089 | ~246 493 | ||
| 7,504,418 | 832,288 | 8,336,706 | 6,619,843 |
| 2b. PARENT C |
HARITY DONA | TIONS AND LEGA |
CIES | ||
|---|---|---|---|---|---|
| 2022 | 2021 | ||||
| Unrestricted | Restricted | Total | Total | ||
| funds | funds | funds | fuads | ||
| 8 | |||||
| Tithes and offerings | 6,771,606 | 6,771,606 | 5,927,941 | ||
| Joint services offering | 31,185 | 31,185 | 58,653 | ||
| Gift aid receivable | 400,000 | 400,000 | 300,000 | ||
| Blankson Foundation | donations | 16,529 | 16,529 | 7,093 | |
| Youth conference offerings | 263,132 | 263,132 | 296 | ||
| Joint Ministries offering |
35,329 | 35,329 | 49,780 | ||
| BCC offerings | 22,377 | 22,377 | 14,994 | ||
| Pension offering | 16,293 | 16,293 | 15,118 | ||
| Building Fund offering |
627,089 | 627,089 | 246,493 | ||
| 7,501,252 | 682,288 | 8,183,540 | 6,620,368 |
| INVES | TMENT | INCOME | ||||
|---|---|---|---|---|---|---|
| 2022 | 2021 | |||||
| Unrestricted | Restricted | Total | Total | |||
| funds | funds | funds | funds | |||
| 8 | ||||||
| Deposit | account | interest | 4,122 | 4,122 | 229 |
| GROUP INCOME F | ROM CHARITABLE ACTIVIT | IES | |
|---|---|---|---|
| 2022 | 2021 | ||
| Activity | 8 | 8 | |
| Other income | Church | 9,588 | 9,855 |
| Rental income | Church | 48,647 | 60,312 |
| Other income | BCC | 3,680 | 5,005 |
| Rental income | BCC | 192,038 | 95,296 |
| Academic income | BCC | 181,194 | 187,534 |
| 435 147 | ~358 002 |
| PARENT CHARITY INCOME FROM CHA | RITABLE ACTIVITIES | |
|---|---|---|
| 2022 | 2021 | |
| 8 | ||
| Other income | 9,588 | 6,758 |
| Rent received | 48,647 | 60,312 |
| Audio visual income | 1,099 | 3,097 |
| 59,334 | 70,167 |
| Direct | Support & | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Costs (see | governance | ||||||||
| Note 6) | costs (see | Totals | |||||||
| note 7) | |||||||||
| Church | 6,774,103 | 6,774,103 | |||||||
| Support cost | 175,601 | 175,601 | |||||||
| Governance | 72,180 | 72,180 | |||||||
| BCC | 661,789 | 16,363 | 678,152 | ||||||
| 7426 662 | 264 144 | 7,700,036 | |||||||
| 6. | GROUP DIRECT COSTSOFCHARITABLE | ACTIVITIES | |||||||
| 2022 | 2021 | ||||||||
| 8 | 8 | ||||||||
| Staffcosts | 1,770,439 | 1,539,954 | |||||||
| Church plant &evangelism | 278,112 | 175,563 | |||||||
| Joint ministries expenses |
45,066 | 38,354 | |||||||
| Gifts, welfare &donations | 109,664 | 166,462 | |||||||
| Premises expenses | 675,445 | 586,598 | |||||||
| Rent - churches &menses | 1,423,765 | 934,294 | |||||||
| Motor, travel, subsistence | and accom | modation | 506,185 | 353,852 | |||||
| Volunteer expenses |
24,462 | 36,516 | |||||||
| Equipment maintenance |
89,349 | 72,445 | |||||||
| Insurance | 88,042 | 77,406 | |||||||
| Bank charges | 32,346 | 18,924 | |||||||
| Youth conference | 964,849 | ||||||||
| Audio visual expenses | 9,419 | 17,778 | |||||||
| Souvenirs &calendars | expenses | 22,494 | 10,749 | ||||||
| Blankson Foundation | expenses | 17,000 | 10,400 | ||||||
| General charitable expenses |
5,021 | 202 | |||||||
| Gain/(loss) on disposal |
(11,248) | ||||||||
| Communication cost |
41,064 | 23,551 | |||||||
| Freelance consultants | 12,347 | 18,575 | |||||||
| Validation &accreditation | fee | 58,119 | 22,765 | ||||||
| Subscription and licences |
4,398 | ||||||||
| Bad debts | 42,257 | ||||||||
| Library expenses | 8,593 | ||||||||
| Advertising and marketing |
(1,006) | 9,232 | |||||||
| Student bursaries, accommodation |
an | d graduation | 59,224 | 3,500 | |||||
| Catering and refreshments | 154,764 | 31,282 | |||||||
| Depreciation | 835,868 | 794,450 | |||||||
| Interest payable and similar | charges | 167,199 | 112,705 | ||||||
| 7435892 | 505 903 |
| Governance | ||||
|---|---|---|---|---|
| Other | costs | Totals | ||
| 8 | 8 | |||
| Support | cost | 175,601 | 175,601 | |
| Church | 72,180 | 72,180 | ||
| BCC | 12,263 | ~4100 | 16,363 | |
| 187864 | 76280 | 264 144 |
| Support | an | d governance cost |
s, included in t |
he above, are as f | ollows: | ||
|---|---|---|---|---|---|---|---|
| 2022 | 2021 | ||||||
| BCC | Total | Total | |||||
| Support | Governance | College | activities | activities | |||
| 8 | |||||||
| Training | expenses | 48,483 | 677 | 49,160 | 16,069 | ||
| General | admin expenses | 2,925 | |||||
| Travel and | subsistence | 3,181 | 3,181 | 2,253 | |||
| Printing, | postage k | ||||||
| telephone | 54,541 | 10,506 | 65,047 | 32,857 | |||
| Telephone | and internet | 35,652 | 35,652 | 35,652 | 37,154 | ||
| Soibvare | and website | 33,744 | 33,744 | 33,744 | 63,572 | ||
| Audit fees | 33,122 | 4100 | 37,222 | 37,000 | |||
| Trustees | meeting | 2,386 | 2,386 | 6,316 | |||
| expenses | |||||||
| Compliance | expenses | 1,098 | 1,098 | 843 | |||
| Legal and professional | 35,574 | 1 080 | 36,654 | 54,023 | |||
| 175,601 | 72,180 | 16,363 | 264,144 | 253,012 |
| PARENT CHARITY'S CHARITA | BLE ACTIVITIES COSTS | ||
|---|---|---|---|
| Direct | Support | ||
| Costs | 88 governance | ||
| (see note 6) | costs | ||
| (see note 7) | Totals | ||
| Church | 7,364,336 | 7,364,336 | |
| Support Cost | 289,915 | 289,915 | |
| Governance | 72 788 | 72 788 | |
| 7364336 | 362095 | 7726431 |
| ANALYSIS OF PAR | ENT | CHARITY'S DIRECT COSTS OF CHARIT | ABLE ACTIV | ITIES | |
|---|---|---|---|---|---|
| 2022 | 2021 | ||||
| 8 | 8 | ||||
| Staffcosts | 1,609,958 | 1,454,273 | |||
| Church planting &evangelism | 278,112 | 175,563 | |||
| Joint ministries expenses |
45,066 | 38,354 | |||
| Catering, refreshments |
and seminars | 151,375 | 31,282 | ||
| Gitts, welfare and charitable | donations | 109,664 | 166,462 | ||
| Premises expenses | 473,937 | 436,082 | |||
| Rent for churches &menses | 1,423,765 | 934,294 | |||
| Motor, travel, accommodation | &subsistence | 498,440 | 353,852 | ||
| Presiding Elders expenses |
11,433 | ||||
| Volunteer expenses |
24,462 | 25,083 | |||
| Equipment maintenance |
89,349 | 72,445 | |||
| Birmingham College |
donation | 590,232 | 277,489 | ||
| Congregational insurance |
70,364 | 63,168 | |||
| Bank charges | 31,186 | 18,163 | |||
| Youth conference | 964,849 | ||||
| Audio visual expenses | 9,419 | 17,778 | |||
| Souvenirs &calendars | expenses | 22,494 | 10,749 | ||
| Blankson Foundation | expense | 17,000 | 10,400 | ||
| General charitable expenses |
5,022 | 200 | |||
| Gain on disposal | (11,248) | ||||
| Depreciation | 782,443 | 756,372 | |||
| Interest payable and similar charges |
~167199 | 112,705 | |||
| 7364336 | 4 954 899 | ||||
| Sb.PARENT CHARITY'S | SUPPORT AND GOVERNANCE COSTS | ||||
| Governance | |||||
| Other | costs | Totals | |||
| 8 | |||||
| Support Cost | 289,915 | 289,915 | |||
| Governance | 72,180 | 72,180 | |||
| 289,915 | 72,180 | 362,095 | |||
| Support costs, included | in the | above, are as follows: | |||
| OTHER | |||||
| 2022 | 2021 | ||||
| Support | Total | ||||
| Cost | activities | ||||
| Training expenses | 162,797 | 62,594 | |||
| General administration | expenses | 1,573 | |||
| Travel and subsistence | expenses | 3,181 | 1,199 | ||
| Printing, postage &,stationery |
expenses | 54,541 | 28,133 | ||
| Telephone &internet | expenses | 35,652 | 37,154 | ||
| Software and website | expenses | 33,744 | 62,855 | ||
| 289,915 | 193,508 |
| 2022 | 2021 | |||
|---|---|---|---|---|
| Total | ||||
| Governance | activities | |||
| 8 | ||||
| Audit fees | 33,122 | 31,500 | ||
| Trustees meeting expenses | 2,386 | 6,316 | ||
| Compliance | expenses | 1,098 | 843 | |
| Legal and professional | fees | 35,574 | 51,639 | |
| 72,180 | 90,298 |
| 2022 | 2021 | |
|---|---|---|
| 8 | 8 | |
| Depreciation - owned assets |
816,220 | 786,441 |
| Depreciation —assets held under HP | 19,648 | 8,009 |
| STAFFCOSTS | ||
| 2022 | 2021 | |
| f. | ||
| Wages and salaries | 1,517,574 | 1,337,744 |
| Social security costs | 26,367 | 18,569 |
| Other pension costs | 226,498 | 183641 |
| 1779439 | 1539954 |
| 2022 | 2021 | |
|---|---|---|
| Pastors | 40 | 38 |
| Finance | 2 | 4 |
| Administrative | 17 | 16 |
| Academic | 3 | 3 |
| 62 | 61 |
| 11. | GROUP TANGIBLE FIXEDASSETS | |||
|---|---|---|---|---|
| Freehold | Long | Plant and | ||
| property | leasehold | machinery | ||
| g | ||||
| COST | ||||
| At 1stJanuaty 2022 | 16,651,289 | 3,245,908 | 1,380,916 | |
| Additions | 1,244,048 | 644,202 | 1D9 962 | |
| At 31stDecember 2022 | 17,895,337 | 3,890,110 | 1 490 878 | |
| DEPRECIATION | ||||
| At 1stJanuary 2022 | 2,823,912 | 506,673 | 1,169,366 | |
| Charge for year | 307 791 | 82,359 | 146,459 | |
| At 31stDecember 2022 | 3,131,703 | 589032 | 1 315,825 | |
| NET BOOK VALUE | ||||
| At 31stDecember 2022 | 14763 634 | 3 301 D78 | 175053 | |
| At 31stDecember 2021 | 13.827377 | 2.739.235 | 211,550 | |
| 11. | TANGIBLE FIXEDASSETS - continued | |||
| Fixtures | ||||
| and | Motor | |||
| fittings | vehicles | Totals | ||
| g | g | |||
| COST | ||||
| At 1stJanuary 2022 | 865,715 | 631,949 | 22,775,777 | |
| Additions | 316781 | 147385 | 2462378 | |
| At 31stDecember 2022 | 1,182,496 | 779,334 | 25,238,155 | |
| DEPRECIATION | ||||
| At 1stJanuary 2022 | 666,490 | 468,810 | 5,635,251 | |
| Charge for year | 186,464 | 112,795 | 835,868 | |
| At 31stDecember 2022 | 852,954 | 581,605 | 6,471,119 | |
| NET BOOK VALUE | ||||
| At 31stDecember 2022 | 329 542 | 197,729 | 18.767.036 | |
| At 31stDecember 2021 | 199,225 | 163,139 | 17,140,526 |
| PARENT CHARITY TANGIBLE FIXE | DASSETS | ||
|---|---|---|---|
| Freehold | Long | Plant and | |
| property g |
leasehold f |
machinery | |
| COST | |||
| At 1stJanuary 2022 | 16,651,289 | 1,873,217 | 1,343,864 |
| Additions | 1,244 0411 | 109962 | |
| At 31stDecember 2022 | 17,895,337 | 1,873,217 | 1,453,826 |
| DEPRECIATION | |||
| At 1st January 2022 | 2,823,912 | 476,419 | 1,160,836 |
| Charge for year | 307,791 | 37.464 | 137929 |
| At 31stDecember 2022 | 31317113 | 513883 | 1298765 |
| NET BOOK VALUE | |||
| At 31stDecember 2022 | 14,763,634 | 1,359,334 | 155,061 |
| At 31stDecember 2021 | 13,827,377 | 1,396,798 | 183,028 |
| PARENT CHARITY TANGIBLE FIXE | DASSETS - continued | ||
|---|---|---|---|
| Fixtures | |||
| and | Motor | ||
| fittings | vehicles | Totals | |
| 8 | 8 | ||
| COST | |||
| At 1stJanuary 2022 | 856,970 | 631,950 | 21,357,290 |
| Additions | 316,781 | 147,385 | 1,818,176 |
| At 31stDecember 2022 | 1 173,751 | 779 335 | 23,175,466 |
| DEPRECIATION | |||
| At 1stJanuary 2022 | 666,490 | 468,810 | 5,596,467 |
| Charge foryear | 186,464 | 112,795 | 782,443 |
| At 31stDecember 2022 | 852,954 | 501605 | 6,378,910 |
| NET BOOK VALUE | |||
| At 31stDecember 2022 | 320 797 | 197,730 | 16,796,556 |
| At 31stDecember 2021 | 190,480 | 163,140 | 15,760,823 |
| 12a. | GROUP DEB | TORS:A | MOUNTS FALLING DUE W | ITHIN ONE YEAR | |
|---|---|---|---|---|---|
| 2022 | 2021 | ||||
| Gift aid | 716,947 | 361,705 | |||
| Staffloan | 21,036 | 18,161 | |||
| Debtors and prepayments | 256,311 | 226,729 | |||
| 994,294 | 606,595 | ||||
| 12b | PARENT CHARITY DEBTORS:AMOUNTS FALLING DUK WITHIN ONE YEAR | ||||
| 2022 | 2021 | ||||
| 8 | |||||
| Gift aid | 716,947 | 361,705 | |||
| Staff loan | 21,036 | 18,161 | |||
| Debtors Ze prepayments |
156,883 | 138,873 | |||
| ~518 39 | |||||
| 13. | GROUP CREDITORS: | AMOUNTS FALLING DUE | WITHIN ONE YEAR | ||
| 2022 | 2021 | ||||
| f | |||||
| Bank loans and overdrafts | (see note 15) | 437,130 | 327,883 | ||
| Hire purchase (see note 16a) | 11,111 | 3,118 | |||
| Social security | and other | taxes | 29,170 | ||
| Other creditors | 125,891 | 206,252 | |||
| Accruals and deferred income | 81,206 | 39,450 | |||
| 684,508 | 576,703 |
| 14 | PARENT CH | ARITY CR | EDITORS: AMOUNTS FALLIN | G DUK WITHIN ONK | YEAR | |
|---|---|---|---|---|---|---|
| 2022 | 2021 | |||||
| 8 | 8 | |||||
| Bank loans and overdrafts | (see note 15) | 437,130 | 353,741 | |||
| Hire purchase | (see note 16a) | 11,111 | 3,118 | |||
| Social security | and other taxes | 25,272 | ||||
| Other creditors | 80,707 | 156,571 | ||||
| Amount owed |
to subsidiary | (BCC) | 34,615 | |||
| Accruals | 31,501 | 30,904 | ||||
| 44 4 |
||||||
| 15. | GROUP CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE | YEAR | ||||
| 2021 | 2021 | |||||
| Bank loans | 3,690,883 | 3,169,249 | ||||
| Hire purchase | 74 831 | 17 165 | ||||
| 3,765,714 | 3,186,414 |
| 2022 | 2021 | ||
|---|---|---|---|
| 8 | |||
| Amounts | falling due within one year on demand: | ||
| Bank loans | 437,130 | 327,883 | |
| Amounts | falling due between two and five years: | ||
| Bank loans - 2-5 years |
| 2022 | 2021 | ||
|---|---|---|---|
| 8 | |||
| Net obligations | repayable: | ||
| Within one year | 11,111 | 3,118 | |
| Within one and | five years | 74 831 | 17 165 |
| 85 942 | 20283 |
| 2022 | 2021 | |||
|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | |
| fund | fund | funds | funds | |
| Fixed assets | 17,902,407 | 1,014,629 | 18,767,036 | 17,140,526 |
| Current assets | 1,983,338 | 2,309,261 | 4,442,599 | 4,306,065 |
| Current liabilities Long term liabilities |
(684,508) ~3765714) |
(684,508) ~3,765,7)4) |
(576,703) ~3,)86,4)4 |
|
| 15,435,523 | 3,328,896 | 18,759,413 | 17683 474 |
| GROUP MO | VEMENT IN FUNDS | |||
|---|---|---|---|---|
| Net | ||||
| movement | At | |||
| At 1.1.22 | in funds | 31.12.22 | ||
| 8 | ||||
| Unrestricted | funds | |||
| General fund | 15,174,872 | 260,651 | 15,435,523 | |
| Restricted funds | ||||
| Restricted Fund | 2,508,602 | 815,288 | 3,323,890 | |
| TOTAL FUNDS | 17,683.474 | 1,075,939 | 18,759,413 |
| Incoming | Resources | Movement | |||
|---|---|---|---|---|---|
| resources | expended | in funds | |||
| Unrestricted | funds | ||||
| General fund | 6,978,074 | (5,305,915) | 1,672,159 | ||
| TOTAL FUNDS | 6978074 | ~5305975 | 1,672159 | ||
| Comparatives | for movement | in funds | |||
| Net | |||||
| movement | At | ||||
| At 1.1.21 | in funds | 31.12.21 | |||
| Unrestricted | funds | ||||
| General fund | 13,776,011 | 1,672, 159 | 15,448,170 | ||
| Restricted funds | |||||
| Restricted Fund | 2,235,304 | 2,235,304 | |||
| TOTAL FUNDS | 16011315 | 1672159 | 17683474 |
| ANALYSIS OF PARENT CH | ARITY NKT ASSETSBE | TWEEN FUN | DS | |
|---|---|---|---|---|
| 2022 | 2021 | |||
| Unrestricted | Restricted | Total | Total | |
| funds | fund | funds | funds | |
| f. | 8 | |||
| Fixed assets | 16,796,556 | 16,796,556 | 15,760,823 | |
| Current assets | 2,664,541 | 1,662,434 | 4,326,975 | 4,186,841 |
| Current liabilities | (730,050) | 109,714 | (620,336) | (544,334) |
| Long term liabilities | ~4,392.827) | 537, 113 | ~3765,754) | ~3,136414) |
| 14,428,220 | 2,309,261 | 16,737,481 | 14,764,857 |
| PARENT C | HARITY MOV | EM | KNT IN FU | NDS | ||
|---|---|---|---|---|---|---|
| Net | ||||||
| movement | At | |||||
| At 1.1.22 | in funds | 31.12.22 | ||||
| 8 | 8 | |||||
| Unrestricted | funds | |||||
| General fund | 14,572,943 | (144,723) | 14,428,220 | |||
| Restricted funds |
||||||
| Charitable activities |
1,643,973 | 665,288 | 2,309,261 | |||
| TOTAL FUNDS | ||||||
| Net movement | in funds, included | in the above | are as follows: | |||
| Incoming | Resources | Movement | ||||
| resources | expended | in funds | ||||
| 8 | ||||||
| Unrestricted | funds | |||||
| General fund | 7,564,708 | (7,709,431) | (144,723) | |||
| Restricted funds | ||||||
| Charitable activities |
682,288 | (17,000) | 665,288 | |||
| TOTAL FUNDS | ~86996 | ~7,726 43)) | 528,365 | |||
| Comparatives | for movement | in | funds | |||
| Net | ||||||
| movement | At | |||||
| At 1.1.21 | in funds | 31.12.21 | ||||
| 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 | 14764 857 | 1 452059 | 16216916 |
| Incoming | Resources | Movement | |||
|---|---|---|---|---|---|
| resources | expended | in funds | |||
| Unrestricted | funds | ||||
| General fund | 6,407,066 | (5,228,305) | 1,178,761 | ||
| Restricted | funds | ||||
| Charitable | activities | 283,698 | (10,400) | 273,298 |
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 1.1.21 | in funds | 31.12.22 | |
| Unrestricted funds |
|||
| General fund | 13,394,182 | 1,034,038 | 14,428,220 |
| Restricted funds | |||
| Charitable activities |
1,370,675 | 938,586 | 2,309,261 |
| TOTAL FUNDS | 14,764,857 | 1,972,624 | 16,737,481 |
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| Unrestricted funds |
|||
| General fund | 13,971,068 | (12,937,030) | 1,034,038 |
| Restricted funds | |||
| Charitable activities |
965,986 | (27,400) | 938,586 |
| TOTAL FUNDS | 14937994 | ~129644 9 | 1972624 |
| Fund | As at 1.1.21 | Incoming | Expenditure | As | at 31.12.2022 |
|---|---|---|---|---|---|
| g | 8 | ||||
| BCC | 14,994 | 150,000 | 164,994 | ||
| BCCoffering | 22,377 | 22,377 | |||
| Retirement | 155,820 | 16,293 | 172,113 | ||
| Motor van | 11,380 | 11,380 | |||
| Building | 2,252,246 | 627,089 | 2,879,335 | ||
| Blankson Foundation | 74 162 | 16329 | 17000 | 73 691 | |
| 2366662 | 832288 | 17000 | 3 3232121 |
| totall | ing 653,324 | (2021 - f32,100).The breakdown is as |
follows: | |
|---|---|---|---|---|
| 2022 | 2021 | |||
| 8 | ||||
| Mrs | A Ssm | 4,800 | 7,200 | |
| Mrs | EAfriyie | 4,800 | 7,200 | |
| Mrs | CAppiah | 8,400 | 8,400 | |
| Mrs | A Frempong | Boadu | 10,800 | 9,300 |
| Mrs | Joyce Donkor | 24,524 | 5,850 |
| 2022 | 2021 | |
|---|---|---|
| Within one year | 9,157 | 9,157 |
| In one to two years | 9,157 | 9,157 |
| In two to five years | 6,361 | 6361 |
| ~67 |
FOR THK YEAR ENDED 31STD |
ECEMBER 2022 |
|||
|---|---|---|---|---|
| 2022 | 2021 | |||
| 8 | ||||
| INCOME AND ENDOWMENTS | ||||
| Donations and legacies |
||||
| Tithes and offerings | 6,771605 | 5,927,942 | ||
| Joint services offering | 31,185 | 58,653 | ||
| Gift aid receivable | 400,000 | 300,000 | ||
| Btankson Foundation | donations | 16,529 | 7,093 | |
| Youth conference | 263,132 | |||
| Joint Ministries offering |
35,329 | 50,076 | ||
| BCCoffering | 22,377 | |||
| Pension offering | 16,293 | 15,118 | ||
| Building Fund offering | 627,089 | 246,493 | ||
| Donations received by |
BCC | 133 167 | 13 174 | |
| 8,336,706 | 6,620,549 | |||
| Investment income |
||||
| Deposit account interest | 4,122 | 229 | ||
| Charitable activities |
||||
| Other income | 13,268 | 14,860 | ||
| Rental income | 240,685 | 155,608 | ||
| Academic income |
181,194 | 187,534 | ||
| 435,147 | 358,002 | |||
| Total incoming resources |
8,775,975 | 6,978,780 | ||
| EXPENDITURE | ||||
| Charitable activities |
||||
| Wages | 1,517,574 | 1,337,744 | ||
| Social security | 26,367 | 18,569 | ||
| Pensions | 226,498 | 183,641 | ||
| Church plant Jk evangelism | 278,112 | 175,563 | ||
| Joint ministries expenses |
45,066 | 38,354 | ||
| Retreats and conferences | 31,282 | |||
| Gifts, welfare dt donations | 109,664 | 166,462 | ||
| Premises expenses | 675,445 | 586,598 | ||
| Rent - churches 4tt manses |
1,423,765 | 934,294 | ||
| Motor, travel, subsistence | and accommodation | 506,185 | 353,852 | |
| Presiding Elders expenses |
11,433 | |||
| Volunteer expenses |
24,462 | 25,083 | ||
| Equipment maintenance |
89,349 | 72,445 | ||
| Insurance | 88,042 | 77,406 | ||
| Carried forward | 5,010,529 | 4,012,726 |
| FOR | THK YEAR ENDED 31STDE | CEMBER 2022 | ||||
|---|---|---|---|---|---|---|
| 2022 | 2021 | |||||
| 8 | ||||||
| Charitable activities |
||||||
| Brought forward | 5,010,529 | 4,012,726 | ||||
| Bank charges | 32,346 | 18,924 | ||||
| Youth conference | 964,849 | |||||
| Audio visual expenses | 9,419 | 17,778 | ||||
| Souvenirs &calendars | expenses | 22,494 | 10,749 | |||
| Blankson Foundation expenses |
17,000 | 10,400 | ||||
| General charitable expenses |
5,021 | 202 | ||||
| Gain/(loss) on disposal |
(11,248) | |||||
| Communication cost |
41,064 | 23,551 | ||||
| Freelance consultants | 12,347 | 18,575 | ||||
| Validation &accreditation | fee | 58,119 | 22,765 | |||
| Subscription and licences |
4,398 | |||||
| Bad debts | 42,257 | |||||
| Library expenses | 8,593 | |||||
| Advertising and inarketing |
(1,006) | 9,232 | ||||
| Student bursaries, accommodation |
and graduation | 59,224 | 3,500 | |||
| Catering and refreshments |
154,764 | |||||
| Depreciation-Freehold | property | 307,791 | 284,492 | |||
| Depreciation-Long leasehold |
82,359 | 67,718 | ||||
| Depreciation-Plant and |
machinery | 146,459 | 170,780 | |||
| Depreciation-Fixtures | and fittings | 186,464 | 179,483 | |||
| Depreciation-Motor vehicles |
112,795 | 92,684 | ||||
| Interest payable | 167,199 | 112,705 | ||||
| 7,435,892 | 5,052,903 | |||||
| Support costs | ||||||
| Other | ||||||
| Training expenses |
49,160 | 16,069 | ||||
| General administration | expense | 2,925 | ||||
| Travel and subsistence | 3,181 | 2,253 | ||||
| Printing, postage &telephone |
65,047 | 32,857 | ||||
| Telephone and internet |
35,652 | 37,154 | ||||
| Software and website | 33,744 | 63,572 | ||||
| 186,784 | 154,830 | |||||
| Governance costs |
||||||
| Audit fees | 37,222 | 37,000 | ||||
| Trustees meeting expenses | 2,386 | 6,316 | ||||
| Compliance expenses |
1,098 | 843 | ||||
| Legal and professional | fees | 36,654 | 54,023 | |||
| 77,360 | 98,182 | |||||
| Total resources expended | 7,700,036 | 5,306,621 | ||||
| Net income before gains | and losses | 1 075 939 | 1 672 159 | |||
| Realised recognised gains |
and losses | |||||
| Carried forward | 1,075,939 | 1,672,159 |