## **INTERNATIONAL GOSPEL COMMUNITY**
## **FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 17[TH] JUNE 2022**
**CHARITY NUMBER: 1125108**
## **INTERNATIONAL GOSPEL COMMUNITY UNIT 3, 145 – 159 ELTHAM HIGH STREET LONDON SE9 1TW**
**INDEX Page Legal & Administrative Details 1 Trustee’s Report 2-3 Independent Examiner’s Report 4 Statement of Financial Activities 5 Balance Sheet 6 Notes on the financial Statements 7 - 11**
**1**
## **LEGAL & ADMINISTRATIVE DETAILS YEAR ENDED 17[th] JUNE 2022**
## **ADDRESS FOR CORRESPONDENCE**
UNIT 3, 145 – 159 ELTHAM HIGH STREET
LONDON SE9 1TW
## **REGISTERED CHARITY NUMBER**
1125108
## **GOVERNING DOCUMENT**
DECLARATION OF TRUST 17[TH] JUNE 2008.
## **TRUSTEES/ DIRECTORS**
Mr Sergio Dutra Mrs Deise Rodrigues Mr Silas Bernardes Ferreira
## **PRINCIPAL BANKERS**
NatWest Bank 54 Streatham High Road London SW16 1BZ
## **INDEPENDENT EXAMINER**
FRESH FIRE ORGANISATION GENERATOR BUSINESS CENTRE 95 MILES ROAD MITCHAM CR4 3FH
**1**
## **INTERNATIONAL GOSPEL COMMUNITY**
## **TRUSTEES’ REPORT YEAR ENDED 17[TH] June 2022**
The trustees are pleased to present their report for the year ended 17[TH] June 2022 for the charity, International Gospel Community with Charity Number 1125108.
The Trustees of the charity are: Sergio Dutra Deise Rodrigues Silas Bernardes Ferreira
The principal address of the charity is: Unit 3, 145 – 159 Eltham High Street London
SE9 1TW
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
The Charity governing document is a trust deed that was adopted on 17[th] June 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 Faith [in accordance with the Statement of Beliefs] through the holding of prayer meetings, lectures, public celebration of religious festivals and by producing and/or distributing literature and recorded material to enlighten others about the Christian faith. 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 continued to hold several conferences to assist the spiritual development of the people in the community. The church continues to use Facebook to broadcast its services due to the pandemic. In addition with this it helped to distribute food to families in need in the community during this time.
**2**
## **FINANCIAL REVIEW**
The income of the charity is above £73,400. The costs have been managed over this period. The church used a large amount of its income in paying the rent of the building. It has made some progress in reducing its debt and they are on track of following the plan to clear the debt over the next 1-2years. The organisation received government grants during the year and a bounce back loan as well to help its operations.
## **FUTURE PLANS**
The organisation is looking to start saving in order to purchase its own premises in the future. They also plan to support more families in need and plan to continue to host its regular services and conferences in the coming year. The organisation is a going concern.
## **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:
1. Select suitable accounting policies and apply them consistently.
2. Make judgements and estimates that are reasonable and prudent.
3. State whether the applicable accounting standards have been followed.
4. 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 7[th] September 2023 and signed on their behalf by:
_____________________________________________
**3**
Independent Examiner’s Report To the Trustees
## **INTERNATIONAL GOSPEL COMMUNITY**
I report on the accounts of the church for the year ended 17[th] June 2022 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 :
- Examine the accounts under section 145 of the 2011 Act.
- Follow the procedures laid down in the General Directions given by the Charity Commissioners made under section 145(5)(b) of the 2011 Act.
- 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;
- (1) which gives me reasonable cause to believe that, in any material aspect, the trustees have not met the requirements to ensure that:
- proper accounting records are kept( in accordance with section 130 of the 2011 Act
- accounts are prepared which agree with the accounting records and comply with the accounting requirements of the 2011 Act: or
- (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 95 Miles road Mitcham Surrey CR4 3FH
**4**
|||||||||||
|---|---|---|---|---|---|---|---|---|---|
|||**INTERNATIONAL GOSPEL COMMUNITY**||||||||
|||||||||||
|**Statement of Financial Activities for the **||||**year ended 17th JUNE 2022**||||||
|||||||||||
|||||**Unrestricted**||**Total Funds**||||
|||||**Funds**||**2022**|**2021**|||
|**Incoming Resources**||Note||**£**||**£**||||
|**from generated funds**||||||||||
|Donations andLegaci||**2**||73414||73414|77972|||
|||||||||||
|||||||||||
|Investmentincome||**3**||1||1|1|||
|||||_________|**_________**|**_________**|_________|||
|||||73415||73415|77973|||
|||||||||||
|Other||||12174||12174|49533|||
|||||____________________________________||||||
|**Total Incoming**||||85589||85589|127506|||
|**Resources**||||____________________________________||||||
|||||||||||
|||||||||||
|**Resources Expended**||||||||||
|**Charitable activities in furtherance of objectives**||||||||||
|CharitableActivities||**6**||81,620||81,620|71,442|||
|||||||||||
|Other||**4**||33950||33950|29229|||
|||||||||||
|||||||||||
|||||**____________________________________**||||||
|**Total Resources**||||115,570||115,570|100671|||
|**Expended**||||____________________________________||||||
|||||||||||
|**Net movement in funds**||||**-29,981**||-29,981|26835|||
|||||||||||
|**Reconciliation of Funds**||||||||||
|Total Funds broughtforward||||24562||24562|-2273|||
|**Total Funds carried forward**||||**-5,419**||**-5,419**|24562|||
|||||||||||
||The abovefunds are allclassed as to purpose|||||||||
||All movements of funds and all recognised gains andlosses areincluded above.|||||||||
|||||||||||
||Thenotes onthe accountsformpart ofthese accounts.|||||||||
|||||||||||
|||||||||||
**5**
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INTERNATIONAL GOSPEL COMMUNITY
Balance Sheet as at 17th JUNE 2022
Note 2022 2021
Fixed Assets £
Tangible fixed assets 5 12020 11226
_________ _________
12020 11226
_________ _________
Current Assets
Cash at bank and 923 46285
in hand
Debtors & prepayments 9 18000 0
18923 46285
Creditors:amounts falling due within one year
Creditors & accruals 8 36362 32949
_________ _________
Net Current Assets -17439 13336
_________ _________
Net Assets -5419 24562
Unrestricted Funds
General Fund -5419 24562
_________ _________
TOTAL FUNDS -5419 24562
_________ _________
Approved by the trustees on 8th September 2023 and signed on their behalf by :
____________________________________
The notes on these accounts form part of these accounts
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**6**
## **INTERNATIONAL GOSPEL COMMUNITY NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 17[TH] JUNE 2022**
## **1) Accounting Policies**
These accounts have been prepared under the historic cost convention with items Recognised at cost or transaction values otherwise stated in the relevant note(s) to These accounts. The accounts have been prepared in accordance with: The Statement of Recommended Practice: Accounting and Reporting by Charities Preparing their accounts in accordance with the Financial Reporting Standard Applicable in the UK and Republic of Ireland (FRS102) issued on 16 July 2014.
- 1.1 **Going Concern:** The accounts are prepared on a going concern basis.
1.2 The accounts present a true and fair view and no change have been made to the accounting policies adopted.
- 1.3 No changes to the accounting estimates have occurred in the reporting period
1.5 No material prior year error have been identified in the reporting period.
## _Recognition of Income_
These are included in the Statement of Financial Activities (SOFA) when:
- The charity becomes entitled to resources;
- It is more likely than not that the trustees will receive the resources;
- The monetary value can be measured with sufficient reliability.
## _Grants and Donations_
Grants and Donations are only included in the SOFA when the general income recognition criteria are met (5.10 to 512 FRS102 SORP)
.
## _Tax reclaim on donations and gifts_
Gift Aid receivable is included in the income when there is a valid declaration from the donor. Any gift aid amount recovered on a donation is considered to be part of that gift and is treated in addition to the same fund as the initial donation unless the donor or the terms of the appeal have specified otherwise.
## **EXPENDITURE AND LIABILITIES**
## _Liability Recognition_
Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty.
## _Grants and Support Costs_
Support costs have been allocated between the governance costs and other support. Governance costs comprise all costs involving public accountability of the charity and its compliance with regulation and good practice.
**7**
## **INTERNATIONAL GOSPEL COMMUNITY NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 17[TH] JUNE 2022**
_Creditors_
The charity has creditors which are measured at settlement amounts less any trade discounts.
## **ASSETS**
_Tangible Fixed Assets for use by the charity_
They are capitalised if they can be used for more than one year. They are valued at cost. The depreciation is calculated at 20% reducing balance method.
## _Debtors_
Debtors are measured on initial recognition at settlement amount. Subsequently they are measured at cash.
.
**8**
|||||||||||
|---|---|---|---|---|---|---|---|---|---|
|||**INTERNATIONAL GOSPEL COMMUNITY**||||||||
||**Notes to the accounts for year ended 17th JUNE 2022**|||||||||
|||||||||||
|**2 **|**Voluntary Income**|||||||||
||||Unrestricted||Total funds||Total funds|||
||||Funds||2022||2021|||
||Churchcollections||£||£||£|||
||Donations||73414||73414||77972|||
||||_____________________________________________|||||||
||||**73414**||**73414**||**77972**|||
||||_____________________________________________|||||||
|||||||||||
||||£||£/2022||£/2021|||
||**Other Income**|||||||||
||Gift aid||12174||12174||13371|||
||JRS Grant||||||16162|||
||Funding||||||20000|||
||Total||**12174**||**12174**||**49533**|||
|||||||||||
|**3 **|**Investment income**|||||||||
||||Unrestricted||Total funds|||||
||||Funds £||2022/£|2021/£||||
||Bank Interest||1||1|1||||
|||||||||||
|||||||||||
|||||**2022**|**2021**|||||
|**4 **|**Other**|||Amount paid||Purpose||||
|||||||||||
||Missionofferings|||13018|22528|missions||||
||Professional fees|||20932|6701|||||
|||||**__________________**||||||
|||||33950|29229|||||
|||||**__________________**||||||
|||||||||||
|**5 **|**Tangible Fixed Assets**|||Instrument|Fittings|Equipment|Total 2022|||
||**Cost**|||**£**|**£**|**£**|**£**|||
||At18/06/2021|||381|793|30694|31868|||
||Additions|||0|0|3799|3799|||
|||||____________________________________||||||
||At17/06/2022|||381|793|34493|35667|||
|||||||||||
||**Depreciation**|||||||||
||At18/06/2021|||335|158|20149|20642|||
||chargeforthe year|||9|127|2869|3005|||
|||||____________________________________||||||
||At17/06/2022|||344|285|23018|23647|||
|||||||||||
||**Net Book Value at 17/06/2022**|||37|508|11475|12020|||
||NetBook Value at18/06/2021|||46|635|10545|11226|||
|||||||||||
|||||**9**||||||
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INTERNATIONAL GOSPEL COMMUNITY
Notes to the accounts for year ended 17TH JUNE 2022
6 Cost of Activities in furtherance of Charity's Objectives
2022/£ 2021/£
Hire of Hall 3190 3613
Maintenance/ Repair 23100 163
Hotel costs for guests 0 689
Bookkeeper 0 1622
Vehicle hire 0 1289
Wages 35146 38659
Subscription 917 713
HMRC 2286 2584
Rates 1656 0
Loan interest 824 1875
Advertising 1697 3301
Insurance 1212 416
Stationery 0 404
Utilities 789 0
Telephone & Internet 441 470
Depreciation 3005 2806
Refreshments 8 0
Pension 2953 2859
Welfare 82 5370
Supplies 1950 1928
Music Services 535 0
Accountant 1322 0
Travel costs 174 2671
Training 330 10
Stationary 3 0
_____________________________________________
TOTAL 81620 71442
_____________________________________________
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10
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INTERNATIONAL GOSPEL COMMUNITY
Notes to the accounts for year ended 17TH JUNE 2022
2022 2021
7 Staff Costs £ £
Wages 35146 38659
Tax/NI 2286 2584
Total 37432 41243
No employee earned more than £15,000 p.a. There were 3 employees during the year.
Trustee Remuneration
Trustee Deise Rodrigues received £13944 for services rendered to the charity
as a Pastor.
8 Creditors: amounts falling due within one year 2022/£ 2021/£
Independent examination 0 0
Outstanding loans 36362 32949
Total 36362 32949
9 Debtors and Prepayments 2022/£ 2021/£
18000 0
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**11**