CALVARY ASSEMBLY INTERNATIONAL
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30[TH] APRIL 2021
CHARITY NUMBER: 1124010
CALVARY ASSEMBLY INTERNATIONAL UNIT 5 GLOBE INDUSTRIAL ESTATE CEMENT BLOCKCOTTAGES GRAYS ESSEX RM17 6ST
INDEX Page Index 1 Trustee’s Report 2-3 Independent Examiner’s Report 4 Receipts and Payments Account 5 Statement of Assets and Liabilities 6 Notes on the financial Statements 7
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CALVARY ASSEMBLY INTERNATIONAL TRUSTEES’ REPORT YEAR ENDED 30[th] April 2021
The trustees are pleased to present their report for the year ended 30[th] April 2021 for the charity, Calvary Assembly International with Charity Number 1124010.
The Trustees of the charity are: Rev Deborah Adekoya Ms Esther Ikotun Mr Joshua Olubu
The principal address of the charity is: Unit 5 Globe Industrial Estate Cement Block Cottages Grays, Essex RM17 6ST
STRUCTURE, GOVERNANCE AND MANAGEMENT
The Charity governing document is a trust deed that was dated on 4[th] April 2008.The Charity is governed by a board on which the trustees are represented. It meets regularly to review, plan activities and monitor the financial position.
OBJECTIVES AND ACTIVITIES
The Objects of the organisation are to advance the Christian Religion [in accordance with the Statement of faith] throughout the world as the trustees may see fit from time to time. The trustees confirm that they have had due regard to the guidance issued by the Charity Commission on public benefit before deciding what activities the charity should undertake.
ACHIEVMENTS AND PERFORMANCE
The Organisation continues to hold successful services through the year in which individuals were equipped and educated on the principles and doctrines of the Christian faith. The church continues to hold several conferences in the United Kingdom and this has continued to make a good impact in the community. The church continues to support the churches and ministry in Malawi. For part of the year the organisation held its services online due to the pandemic.
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FINANCIAL REVIEW
The income of the charity is above £59,800. This is an increase on the previous year’s income. The costs have been managed over this period. The main expense was for covering the rent on the premises that the charity uses. The charity is in a good position to develop itself in the community.
FUTURE DEVELOPMENTS
The church intends to continue to host its regular yearly conferences in UK. They will continue to host their conferences in Malawi which is a great support to the leaders in the country. The intended re-appointment of our present independent examiner at the upcoming trustee meeting is expected to support the financial operations by making it more effective.
RESERVE POLICY
It is the policy of the Charity to maintain unrestricted funds, which are the reserves of the charity at about 3 months of unrestricted expenditure.This provides sufficient funds to cover any emergency expenditures that may arise from time to time. The charity will seek to maintain this level throughout the year.
RISK MANAGEMENT
The charity have assessed all the major risks to which the charity is exposed to, in particular those related to operations and finances of the charity, and are satisfied that systems are in place to mitigate exposure to major risks.
TRUSTEE RESPONSIBILITIES
Under the Charities Act 2011, the trustees are required to prepare a statement of accounts for each accounting year which gives a true and fair view of the state of the church. They are required to:
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Select suitable accounting policies and apply them consistently.
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Make judgements and estimates that are reasonable and prudent.
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State whether the applicable accounting standards have been followed.
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Prepare financial statements on an ongoing basis.
They are responsible for keeping proper records which disclose with reasonable accuracy the finances of the church at any time and to ensure that such accounts comply with the Charities Act 2011.They also have a responsibility to safeguard the assets of the church and to take reasonable steps to detect fraud or other irregularities.
Approved by the Trustees on 1[st ] March 2022 and signed on their behalf by:
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Independent Examiner’s Report To the Trustees CALVARY ASSEMBLY INTERNATIONAL
I report on the accounts of the church for the year ended 30[th ] April 2021 set out on the following pages which have been prepared on the basis of the accounting policies shown in the corresponding pages.
Respective responsibilities of trustees and examiner
The trustees of the church are responsible for the preparation of accounts: they consider that the audit requirement under section 144(2) of the Charities Act 2011 (the 2011 Act),does not apply. It is my responsibility to :
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Examine the accounts under section 145 of the 2011 Act.
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Follow the procedures laid down in the General Directions given by the Charity Commissioners made under section 145(5)(b) of the 2011 Act.
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State whether particular matters have come to my attention.
Basis of Independent examiner’s report
My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the church 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 I do not express an audit opinion on the view given by the accounts.
Independent examiner’s statement
In the course of my examination, no matter has come to my attention;
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(1) which gives me reasonable cause to believe that, in any material aspect, the trustees have not met the requirements to ensure that:
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proper accounting records are kept( in accordance with section 130 of the 2011 Act
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accounts are prepared which agree with the accounting records and comply with the accounting requirements of the 2011 Act: or
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(2) to which , in my opinion , attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Chuks Ajuka BSc(Man), FICB PMDip FRESH FIRE ORGANISATION Generator Business Centre 95 Miles road Mitcham Surrey CR4 3FH
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CALVARY ASSEMBLY INTERNATIONAL
ACCOUNTS FOR THE YEAR ENDED 30TH April 2021
| 1 Receipts & Payments Account (General Purpose Fund) Income Receipts £ 2021 Tithes and Offerings 49678 Other Donations 10210 Gift Aid 0 Interest 1 Total Receipts 59889 _ Direct Charitable Expenditure Light & Heat 2093 Insurance 0 Admin/legal expenses 2309 Church Events 815 Honoraria 63 Hotel costs 0 Hire of equipment 0 Mission 1555 Travel & Substitence 4500 Training 0 Website/Software 129 Refreshments 696 Telephone 525 Wages 6557 Professional fees 240 Church house expenses 2000 Rates 3831 Stationary & Printing 79 Bulding rent/Hall hire 23150 Transport 542 Accounting services 360 Repairs and renewals 961 50405 Other Expenditure Welfare 200 Music Services 270 Stationary Equipment 800 Pension 478 Total Payments 52153 Net Receipts/Payments for the year 7736 Cash Funds at start of year 3617 Cash Funds at end of year 11353 _ |
£ 2020 46820 5255 3168 4 |
|---|---|
| 55247 |
|
| ___ 2760 0 2280 1288 0 372 593 1430 4660 1400 100 1302 459 6546 1704 0 4437 581 20250 750 380 3059 |
|
| 54351 0 150 4217 359 |
|
| 59077 -3830 7447 |
|
| 3617 ___ |
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CALVARY ASSEMBLY INTERNATIONAL
2 Statements of Assets and Liabilities at 30th April 2021
| Cash Funds Bank Total Cash Funds Other Monetary Assets Deposit Total Cash Funds Assets Retained for the Charity's Own use Musical Instruments Equipments Fixtures & Fittings Liabilities Accounting fee NET ASSETS |
Unrestricted Funds 2021/£ 11353 _ 11353 _ 2021/£ 0 11353 754 5658 357 6769 ___ 360 |
2020/£ 3617 |
|---|---|---|
| ___ 3617 |
||
| ___ 2020/£ 0 |
||
| 3617 | ||
| 942 6985 446 |
||
| 8373 |
||
| ___ 380 |
||
| 17762 | 11610 |
Approved by the Trustees and signed on their behalf:
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CALVARY ASSEMBLY INTERNATIONAL
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30th April 2021
ACCOUNTING POLICIES
Basis of Accounting
These accounts have been prepared on the receipts and payments basis under section Charities Act 2011
Funds
Unrestricted funds are those which can be used at the Trustees' discretion. Restricted Funds are those whose purposes have been restricted by the donor.
Staff
The church had 1 employee. All other work was carriedout by volunteers
Depreciation
Depreciation was calculated on loss of value of equipment and instruments on 20% using the straight line method.
Trustee Remuneration
Rev Deborah Adekoya received emoluments of £6557 for services rendered to the charity as Pastor of the church. This was paid through a PAYE scheme.
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