2020-12-31-accounts - Overseas Fellowship Of Nigerian Christians

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		Page
Report ofthe Trustees	I	to	6
Report ofthe Independent Auditor	7	to	9
Statement ofFinancial Activities		10
Balance Sheet
Notes to the Financial Statements	12	to	18
Detailed Statement ofFinancial Activities	19	to	20

				31.12.20	31,12.19
		Unrestricted	Restricted	Total	Total
	Notes	funds	funds	funds	fundsf
INCOME AND ENDOWMENTS FROM
Donations and legacies		151,649	8,849	160,498	158,482
Charitable activities
Youth k children National conference Other conference k fellowship Women conference Evangelism dk missions Men conference			17,448 10,500 1,900 23,872	17,448 10,500 1,900 23,872	34,256 123,601 10,020 14,473 2,679
Other income Charitable giving 18-30'sConference			747 7,191 1,785	747 7,191 1,785	6,120 8,636 28,991 2,411
Investment income	2	7,518	800	8,318	9,245
Total		159,167	73,092	232,259	398,914
EXPENDITURE ON
Raising funds	3	70,945	7,501	78,446	147,438
Charitable activities
Youth gc children National conference		9,181	1.6,790	16,790 9,181	58,543 138,272
Other conference iit fellowship			10,6]4	10,614	10,020
Women conference		1,681	1,900	3.581	15,560
Evangelism 41missions Men conference			2,911	2,911	11,366
18-30'sConference		618	747 1,043	1,365 1,043	7,358 3,109
Other		9,664	8,849	18,513	10,347
Total		92,089	50,355	142,444	402,013
NET INCOME/(EXPENDITURE)		67,078	22,737	89,815	(3,099)
Transfers between funds	12	22,737	(22,737)
Net movement in funds		89,815		89,815	(3,099)
RECONCILIATION OF FUNDS
Total fuads brought forward		292,712		292,712	295,811
TOTAL FUNDS CARRIED FORWARD		382,527		382,527	292,712

					31.12.20	31.12.19
			Unrestricted	Restricted	Total	Total
			funds	funds	funds	funds
		Notes	f,	f.
FIXEDASSETS
Tangible assets		8	166,897		166,897	170,390
CURRENT ASSETS
Debtors		9	30,000		30,000	19,000
Cash at bank and in hand			214,215		~214215	121,366
			244,215		244,215	140,366
CREDITORS
Amounts falling due within	one year	10	(28,585)		(28,585)	(18,044)
NET CURRENT ASSETS			215,630		215,630	122,322
TOTAl. ASSETS LESSCURRENT
LIABILITIES			382,527		382,527	292,712
NET ASSETS			382,527		382,527	292,712
FUNDS
Unresn icted funds					382 527	~292 712
TOTAL FUNDS					~382 527	292 712

				31.12.20	31.12,19
				f
Rents received Deposit account interest				7,726 592	7,565 1,680
				8,318	9,245
RAISING FUNDS
RAISING DONATIONS		AND LEGACIES
				31.12.20	31.12 19
				f
Charitable giving /h ministry Special projects Support costs				16,535 5,510 56,401	16,447 1,743 129,248
				78,446	147,438
NET INCOME/(EXPENDITURE)
Net income/(expenditure)	is stated a(ter charging/(crediting):
				31.12.20	31.12.19
					E
Depreciation -owned assets Deficit on disposal offixed		assets		6,111 617	5,468 123
AUDITORS' REMUNERATION
				31.12.20	31.12,19
					f
Fees payable to the charity's		auditor for the audit ofthe charity's	financial
statements				17,044	6,000

STAFF COSTS	STAFF COSTS
The average monthly number ofemployees		during	the year was as follows:
				31.12.20	31.12.19
No employees received emoluments	in excess off60,000.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
			Unrestricted	itestricted	Total
			funds	funds	funds
INCOME AND ENDOWIVIENTS	FROM			f	f
Donations and legacies			151,750	6,732	158,482
Charitable activities
Youth k children Nat ione I conference Other conference k fellowship Woroen conference			68	34,256 123,60! 10,020 14,405	34,256 123,601 10,020 14,473
Evangelism gc missions Men conference			608	2,07'I	2,679
Other income Charitable giving 18-30'sConference			4,870	6,120 3,766 28,991 2,411	6,120 8,636 28,991 2,411
Investment income			7,422	1,823	9,245
Total			164,718	234, 196	398,914
EXPENDITURE ON
Raising funds			117,869	29,569	147,438
Charitable activities
Youth sk children National conference Other conference k.fellowship Women conference Evangelism k.missions Men conference			!9,277 14,671 1,155 9,295	39,266 123,601 10,020 14,405 2,071	58,543 138,272 10,020 15,560 11,366
18-30'sConference			1,238 698	6,120 2,411	7,358 3,109
Other			3,615	6,732	10,347
Total			167,818	234,195	402,013
NET INCOME/(EXPENDITURE)			(3,100)	I	(3,099)

	FOR THE YEAR ENDED 31DECEM	FOR THE YEAR ENDED 31DECEM	FOR THE YEAR ENDED 31DECEM	BER 2020
	COMPARATIVKS FORTHE STATEMENT OF FINANCIAL			ACTIVITIES	-continued
				Unrestricted	Restricted	Total
				funds	funds	funds
				f,		f
	RECONCILIATION	OF FUNDS
	Total funds brought	forward		295,811		295,811
	TOTAL FUNDS CARRIED FORWARD			292,711	I	292,712
9,	TANGIBLE FIXED	ASSETS
				Fixtures
		Freehold	Plant and	and	Computer
		property	machinery	fittings f	equipment	Totals
	COST
	At I January 2020	201,661	5,326	3,147	6,931	217,065
	Additions				3,235	3,235
	Disposal s			(2.315)		(2,315)
	At 31 December 2020	201,661	5,326	832	10,166	217,985
	DEPRECIATION
	At IJanuary 2020	39,616	1,869	1,808	3,382	46,675
	Charge for year	4,033	483	56	1,539	6,111
	Eliminated on disposal			(1,698)		(1,698)
	At 31 December 2020	43,649	2,352	166	4,921	51,088
	NET BOOK VALUE
	At 31 December 2020	158,012	2,974	666	5,245	166,897
	At 31 December 2019	162,045	3,457	!,339	3,549	170,390
10.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
					31.12.20	31.12.19
	Other debtors				30,000	19,000

ll.	CREDITORS: AMOU	NTS FA	LLING DUE WITHIN ONE	YEAR
					31.1220	31.12.19
	Trade creditors				I	f, I
	Accrued expenses				28,584	18,043
					28,585	18,044
12.	MOVEMKNT IN FUNDS
				Net	Transfers
				movement	between	At
			At 1.1.20	in funds	funds	31.12.20
						f.
	Unrestricted funds
	General fund		292,712	67,078	22,737	382,527
	Restricted funds
	Youth k. children National conference Missions Outreach 3t fellowship Sundries			659 (2,648) 20,960 3,390 376	(659) 2,648 (20,960) (3,390) (376)
				22,737	(22,737)
	TOTALFUNDS		292,712	89,815		382,527
	Net movement in funds,	included	in the above are as follows:

	Incoming	Resources	Movemem
	resources f	expended f	in funds
Unrestricted funds
General fund	159,167	(92,089)	67,078
Restricted funds
Youth k children Building fund National conference Missions Benevolence k.welfare Outreach k fellowship Sundries	17,449 800 (I) 23,871 8,849 14,933 7,191	(16,790) (800) (2,647) (2,911) (8,849) (11,543) (6,815)	659 (2,648) 20,960 3,390 376
	73,092	(50,355)	22,737
TOTAI FUNDS	232,259	(142,444)	89,815

					Net
					movement	At
				At 1.1.19	in funds	31.12.19
						f
Unrestricted		funds
Genera!	fund			295,811	(3,099)	292,712
TOTAL	FUNDS			295,811	(3,099)	292,712
Comparative		net inovement	in funds, included	in the above are as follows:
				Incoming	Resources	Movement
				resources	expended	in funds f
Unrestricted		funds
General	fund			164,719	(167,818)	(3,099)
Restricted funds
Building	fund			234,195	(234,195)
TOTAL	FUNDS			398,914	(402,013)	(3,099)

			Net	Transfers
			movement	between	At
		At 1.1.19	in funds	funds	31.12.20
			f		f
Unrestricted funds
General	fund	295,811	63,979	22,737	382,527
Restricted funds
Youth dc National Missions Outreach Sundries	children conference k fellowship		659 (2,648) 20,960 3,390 376	(659) 2,648 (20,960) (3,390) (376)
			22,737	(22,737)
TOTAL	FUNDS	295,811	86,716		382,527

	Incoming	Resources	Movement
	resources f	expended	in funds f
Unrestricted funds
General fund	323,886	(259,907)	63,979
Restricted funds
Youth 4'c children Building fund National conference Missions Benevolence k welfare Outreach &.fellowship Sundries	17,449 234,995 (I) 23,871 8,849 14,933 7,191	(16,790) (234,995) (2,647) (2,911) (8,849) (11,543) (6,815)	659 (2,648) 20,960 3,390 376
	307,287	(284,550)	22,737
TOTAL FUNDS	631,173	(544,457)	86,716

FOR THE YEAR ENDED	31DECEMBER 2020
	31.12.20	31.12.19
	f,	f
INCOME AND ENDOWMENTS
Donations and legacie~
Gitts
	1
Donations Gill ar'd Benevolent fund	140,648 11,000 8,849	136,750 15,000 6,732
	160,498	158,482
Investment income
Rents received Deposit account interest	7,726 592	7,565 1,680
	8.318	9,245
Charitable activities
National conference Youth 4 children programrnes Other income Women conference Evangelistic activities Men conference Charitable giving R Ministry Other Conferences 18-30 's conference	17,448 7,191 1,900 747 23,872 10,500 1,785	123,601 34,256 18,324 14,473 2,071 6,120 28,991 940 2,411
	63,443	231,187
Total incoroing resources	232,259	398,914
EXPENDITURE
Raising donations and legacies
Charitable giving dc ministry	16,535	16,447
Special projects	5,510	1,743
	22,045	18,190
Other
Benevolence k welfare	18,5 i3	10,347
Support costs
Management
Rates, water k insurance Light k heat Postage and stationery Sundries Carried forward	1,427 4,907 7,369 256 13,959	1,770 7,764 8,123 2,309 19,966

	Detailed Statement ofFinancial
	FOR THE YEAR ENDED 31DECEMBER 2020
		31.12.20	31.12.19
		8
Management
Brought forward Transport dt travel Equipment hire		13,959 3,111	19,966 9,818 24
Freehold property Plant and machinery		4,033 484	4,033 533
Fixtures snd fittings		55	210
Computer equipment Lass on sale oftangible	fixed assets	1,54D 617	693 123
		23,799	35,400
Finance
Bank charges		279	4,311
Other
National conference expenses Youth db children programmes Outreach/Fellowship programme Women fellowship lVIissions k.evangelism Men fellowship Other Conference 18-30'sCanference		9,181 16,790 114 3,581 2,911 1,365 10,500 1,043	138,272 58,543 1,657 17,394 11,366 7,358 10,020 3,109
		45,485	247,719
Governance costs
Auditors' remuneration Administrative expenses Repairs dt renewals Training 8cdevelopment Software 8ccomputer consumable Rent Bad Debt		17,044 2,754 3,642 1,931 6,952	6,000 2,500 4,646 7,565 2,693 17,091 45,551
		32,323	86,046
Tatslresources expended		142,444	4D2,013
Net income/(expenditure)		89,815	(3,099)