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2021-05-31-accounts

Charity number: 1126210

CHRIST AMBASSADORS MINISTRIES FINANCIAL STATEMENTS YEAR ENDED 31 MAY 2021

LUBBOCK FINE LLP Chartered Accountants Paternoster House 65 St Paul's Churchyard London EC4M 8AB

CHRIST AMBASSADORS MINISTRIES

CONTENTS

Page
Reference and Administrative Details of the Charity, its Trustees and Advisers 1
Trustees' Report 2 - 3
Independent Examiner's Report 4
Statement of Financial Activities 5
Balance Sheet 6
Notes to the Financial Statements 7 - 14

CHRIST AMBASSADORS MINISTRIES

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MAY 2021

Trustees Benson Eboh-Abohi
Eartha Charmaine Goldstone
Charity registered
number
1126210
Principal office
14 Lytton Avenue
Enfield
Middlesex
EN3 6EN
Bankers
Barclays Bank Plc
Independent Examiner
Lee Facey
Lubbock Fine LLP
Chartered Accountants
3rd Floor Paternoster House
65 St Paul's Churchyard
London
EC4M 8AB

Page 1

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CHRIST AMBASSADORS MINISTRIES

INDEPENDENT EXAMINER'S REPORT

FOR THE YEAR ENDED 31 MAY 2021

Independent Examiner's Report to the Trustees of Christ Ambassadors Ministries ('the charity')

I report to the charity Trustees on my examination of the accounts of the charity for the year ended 31 May 2021.

This report is made solely to the charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the charity's Trustees those matters I am required to state to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the parent charity and the charity's Trustees as a body, for my work or for this report.

Responsibilities and Basis of Report

As the Trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').

I report in respect of my examination of the charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent Examiner's Statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Lee Facey Independent Examiner Lubbock Fine LLP Chartered Accountants Paternoster House 65 St Paul's Churchyard London EC4M 8AB

04 March 2022 Date:

Page 4

CHRIST AMBASSADORS MINISTRIES

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 MAY 2021

Note
Income from:
Donations
2
Investment Income
3
Total income
Expenditure on:
Charitable activities
4
Total expenditure
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward
Unrestricted
funds
2021
£
94,542
36
94,578
25,966
25,966
68,612
224,057
68,612
292,669
Restricted
funds
2021
£
6,020
-
6,020
-
-
6,020
1,715
6,020
7,735
Total
funds
2021
£
100,562
36
100,598
25,966
25,966
74,632
225,772
74,632
300,404
Total
funds
2020
£
86,399
80
86,479
47,771
47,771
38,708
187,064
38,708
225,772

The notes on pages 7 to 14 form part of these financial statements.

Page 5

CHRIST AMBASSADORS MINISTRIES

BALANCE SHEET

FOR THE YEAR ENDED 31 MAY 2021

Note
Fixed assets
Tangible assets
7
Current assets
Debtors
8
Cash at bank and in hand
Creditors: amounts falling due within one
year
9
Net current assets
Total net assets
Charity funds
Restricted funds
10
Unrestricted funds
10
Total funds
13,525
284,949
298,474
(1,803)
2021
£
3,733
296,671
300,404
7,735
292,669
300,404
10,742
214,447
225,189
(3,625)
2020
£
4,208
221,564
225,772
1,715
224,057
225,772

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

Benson Eboh-Abohi Trustee 02 March 2022 Date:

The notes on pages 7 to 14 form part of these financial statements.

Page 6

CHRIST AMBASSADORS MINISTRIES

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2021

1. Accounting policies

1.1 Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts. The financial statements 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 (SORP FRS 102) and Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and Charities Act 2011.

Christ Ambassadors Ministries meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

1.2 Going concern

The accounts have been prepared under the going concern basis, which assumes that current and future sources of funding will be adequate for the charity's needs. The Trustees continuously review the funding prospects and expenditure levels and take action to reduce expenditure should funding expectations and reserves appear inadequate. On the basis of this policy, the Board consider that the charity will continue in operational existence for the foreseeable future. In forming this assessment, the Trustees have considered the impact of Covid-19.

1.3 Income

Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.

All incoming resources are included in the statement of financial activities when the charity has entitlement to the funds, certainty of receipt and the amount can be measured with sufficient reliability.

Donation income is recognised on a receivable basis. Gift aid income is recognised in the period in which the donation was made.

1.4 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources.

Charitable activity costs are costs incurred on the charity's operations, including support costs and costs relating to the governance of the charity apportioned to charitable activities.

Page 7

CHRIST AMBASSADORS MINISTRIES

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2021

1. Accounting policies (continued)

1.6 Fund accounting

Unrestricted funds consist of donations received or generated for expenditure on the general objectives of the Charity.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Investment income, gains and losses are allocated to the appropriate fund.

1.7 Tangible fixed assets and depreciation

Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

1.8 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

1.9 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

1.10 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

1.11 Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

1.12 Irrecoverable VAT

The Charity was not VAT registered during the year and therefore all expenditure is inclusive of any VAT charged.

Page 8

CHRIST AMBASSADORS MINISTRIES

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2021

2. Income from donations

Donations/Tithes
Gift Aid recoverable
Donations/Tithes
Gift Aid recoverable
3.
Investment income
Bank interest
Bank interest
Unrestricted
funds
2021
£
83,029
11,513
94,542
Unrestricted
funds
2020
£
74,904
10,717
85,621
Restricted
funds
2021
£
6,020
-
6,020
Restricted
funds
2020
£
778
-
778
Unrestricted
funds
2021
£
36
Unrestricted
funds
2020
£
80
Total
funds
2021
£
89,049
11,513
100,562
Total
funds
2020
£
75,682
10,717
86,399
Total
funds
2021
£
36
Total
funds
2020
£
80

Page 9

CHRIST AMBASSADORS MINISTRIES

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2021

4. Costs of Charitable Activities by Fund Type

Summary by fund type

Unrestricted
funds
2021
£
Advancement of the Christian Faith
25,966
Unrestricted
funds
2020
£
Advancement of the Christian Faith
47,771
Total
funds
2021
£
25,966
Total
funds
2020
£
47,771

5. Costs of Charitable Activities by activity

Advancement of the Christian Faith
Advancement of the Christian Faith
Activities
undertaken
directly
2021
£
21,890
Activities
undertaken
directly
2020
£
43,722
Support
costs
2021
£
4,076
Support
costs
2020
£
4,049
Total
funds
2021
£
25,966
Total
funds
2020
£
47,771

Page 10

CHRIST AMBASSADORS MINISTRIES

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2021

5. Costs of Charitable Activities by activity (continued)

Analysis of support costs

Independent examiner fees (governance)
Depreciation
Independent examiner fees (governance)
Depreciation
Activities
2021
£
2,040
2,036
4,076
Activities
2020
£
1,680
2,369
4,049
Total
funds
2021
£
2,040
2,036
4,076
Total
funds
2020
£
1,680
2,369
4,049

6. Trustee and employee remuneration

During the year, no Trustees received any remuneration or other benefits (2020 - £NIL).

During the year ended 31 May 2021, no Trustee expenses have been incurred (2020 - £NIL).

There were no employees during the current or prior year.

Page 11

CHRIST AMBASSADORS MINISTRIES

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2021

7.
Tangible fixed assets
Cost or valuation
At 1 June 2020
Additions
At 31 May 2021
Depreciation
At 1 June 2020
Charge for the year
At 31 May 2021
Net book value
At 31 May 2021
At 31 May 2020
8.
Debtors
Due within one year
Other debtors
Prepayments and accrued income
9.
Creditors: Amounts falling due within one year
2021
£
13,493
32
13,525
Equipment
£
19,263
1,561
20,824
15,055
2,036
17,091
3,733
4,208
2020
£
10,717
25
10,742
Trade creditors
Accruals
2021
£
-
1,803
1,803
2020
£
2,063
1,562
3,625

Page 12

CHRIST AMBASSADORS MINISTRIES

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2021

10. Statement of funds

Statement of funds - current year

Unrestricted funds
General Funds
Restricted funds
Homeless fund
Building fund
Total of funds
Balance at 1
June 2020
£
224,057
1,715
-
1,715
225,772
Income
£
94,578
-
6,020
6,020
100,598
Expenditure
£
(25,966)
-
-
-
(25,966)
Balance at
31 May 2021
£
292,669
1,715
6,020
7,735
300,404

The Homeless Fund is made up of donations towards a project to provide provisions for the homeless. The Building Fund is made up of donations towards securing larger premises.

Statement of funds - prior year

Unrestricted funds
General Funds
Restricted funds
Homeless fund
Total of funds
Balance at
1 June 2019
£
186,127
937
187,064
Income
£
85,701
778
86,479
Expenditure
£
(47,771)
-
(47,771)
Balance at
31 May 2020
£
224,057
1,715
225,772

Page 13

CHRIST AMBASSADORS MINISTRIES

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2021

11. Analysis of net assets between funds

Analysis of net assets between funds - current year

Tangible fixed assets
Current assets
Creditors due within one year
Total
Unrestricted
funds
2021
£
3,733
290,739
(1,803)
292,669
Restricted
funds
2021
£
-
7,735
-
7,735
Total
funds
2021
£
3,733
298,474
(1,803)
300,404

Analysis of net assets between funds - prior year

Tangible fixed assets
Current assets
Creditors due within one year
Total
Unrestricted
funds
2020
£
4,208
223,474
(3,625)
224,057
Restricted
funds
2020
£
-
1,715
-
1,715
Total
funds
2020
£
4,208
225,189
(3,625)
225,772

12. Related party transactions

Unrestricted donations totalling £2,953 (2020 - £3,547) were donated by Trustees during the year.

Page 14