Charity registration number: 1128807
Ministry of Christian Life Church
Annual Report and Financial Statements
for the Year Ended 31 July 2021
Ministry of Christian Life Church
Contents
| Reference and Administrative Details | 1 |
|---|---|
| Trustees' Report | 2 |
| Statement of Trustees' Responsibilities | 3 |
| Independent Examiner's Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 |
| Notes to the Financial Statements | 7 to 12 |
Ministry of Christian Life Church
Reference and Administrative Details
Trustees Mr Joel dos Santos Barbosa Mr Marcelo Fernandes da Silva Mr Wilson Francisco De Faria Charity Registration Number 1128807 Principal Office The Gospel Centre Wightman Road London N8 0LT Independent Examiner Loyal Accountancy Unit 2 189 Broad Lane London N15 4QT
Page 1
Ministry of Christian Life Church
Trustees' Report
The trustees present the annual report together with the financial statements of the charity for the year ended 31 July 2021.
Objectives and activities
Objects and aims
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.
Public benefit
The organisation holds services with individuals equipped and educated on the principles and doctrines of the Christian faith. The church holds several conferences to assist the development of the people in the community.
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
Structure, governance and management
Nature of governing document
The Charity governing document is a declaration of trust that was adopted on 17 March 2009. 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.
The annual report was approved by the trustees of the charity on 18 May 2022 and signed on its behalf by:
......................................... Mr Joel dos Santos Barbosa Trustee
Page 2
Ministry of Christian Life Church
Statement of Trustees' Responsibilities
The trustees are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
The law applicable to charities requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the constitution. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by the trustees of the charity on 18 May 2022 and signed on its behalf by:
............................................. Mr Joel Barbosa dos Santos Trustee
Page 3
Ministry of Christian Life Church
Independent Examiner's Report to the trustees of Ministry of Christian Life Church
I report to the trustees on my examination of the accounts of Ministry of Christian Life Church for the year ended 31 July 2021.
Responsibilities and basis of report
As the charity trustees of Ministry of Christian Life Church you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the Ministry of Christian Life Church 's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 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:
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accounting records were not kept in respect of Ministry of Christian Life Church as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting 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.
...................................... Loyal Accountnacy
Unit 2 189 Broad Lane London N15 4QT
18 May 2022
Page 4
Ministry of Christian Life Church
Statement of Financial Activities for the Year Ended 31 July 2021
| Note Income and Endowments from: Donations and legacies Expenditure on: Charitable activities Total Expenditure Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward |
Unrestricted £ 90,477 (90,513) (90,513) (36) 26,930 26,894 |
Total 2021 £ 90,477 (90,513) (90,513) (36) 26,930 26,894 |
Total 2020 £ 74,509 (72,302) |
|---|---|---|---|
| (72,302) | |||
| 2,207 24,723 |
|||
| 26,930 |
The notes on pages 7 to 12 form an integral part of these financial statements. Page 5
Ministry of Christian Life Church
(Registration number: 1128807) Balance Sheet as at 31 July 2021
| Note Fixed assets Tangible assets 5 Current assets Debtors 6 Cash at bank and in hand 7 Net assets Funds of the charity: Unrestricted income funds Unrestricted funds Total funds |
2021 £ 8,302 16,088 2,504 18,592 26,894 26,894 26,894 |
2020 £ 9,767 9,777 7,386 |
|---|---|---|
| 17,163 | ||
| 26,930 | ||
| 26,930 | ||
| 26,930 |
The financial statements on pages 5 to 12 were approved by the trustees, and authorised for issue on 18 May 2022 and signed on their behalf by:
......................................... Mr Joel dos Santos Barbosa Trustee
The notes on pages 7 to 12 form an integral part of these financial statements. Page 6
Ministry of Christian Life Church
Notes to the Financial Statements for the Year Ended 31 July 2021
1 Accounting policies
Statement of compliance
The financial statements have been prepared in accordance with the second edition of the Charities Statement of Recommended Practice issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
Basis of preparation
Ministry of Christian Life Church meets the definition of a public benefit entity under FRS 102. The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.
Exemption from preparing a cash flow statement
The charity opted to early adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements.
Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.
Income and endowments
Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.
Donations and legacies
Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be reliably measured.
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.
Page 7
Ministry of Christian Life Church
Notes to the Financial Statements for the Year Ended 31 July 2021
Charitable activities
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Support costs
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.
Taxation
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
Tangible fixed assets
Individual fixed assets costing £500.00 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation and amortisation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Asset class Depreciation method and rate Plant and machinery 15% reducing balance
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Fund structure
Unrestricted income funds are general funds that are available for use at the trustees's discretion in furtherance of the objectives of the charity.
Page 8
Ministry of Christian Life Church
Notes to the Financial Statements for the Year Ended 31 July 2021
Financial instruments
Classification
Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities.
Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the charity, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.
Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.
Fair value measurement
The best evidence of fair value is a quoted price for an identical asset in an active market. When quoted prices are unavailable, the price of a recent transaction for an identical asset provides evidence of fair value as long as there has not been a significant change in economic circumstances or a significant lapse of time since the transaction took place. If the market is not active and recent transactions of an identical asset on their own are not a good estimate of fair value, the fair value is estimated by using a valuation technique.
Page 9
Ministry of Christian Life Church
Notes to the Financial Statements for the Year Ended 31 July 2021
2 Income from donations and legacies
| Church collections Sede Harlesden Leytonstone Gift Aid tax reclaimed |
Unrestricted General £ 57,777 16,449 9,940 6,311 90,477 |
Total 2021 £ 57,777 16,449 9,940 6,311 90,477 |
Total 2020 £ 41,684 11,537 16,011 5,277 |
|---|---|---|---|
| 74,509 |
3 Trustees remuneration and expenses
The charity paid to the three trustees during financial year. No trustees received emoluments of more than £20,000 during the year. All trustees were employed on self contracted basis.
4 Taxation
The charity is a registered charity and is therefore exempt from taxation.
Page 10
Ministry of Christian Life Church
Notes to the Financial Statements for the Year Ended 31 July 2021
5 Tangible fixed assets
| Cost At 1 August 2020 At 31 July 2021 Depreciation At 1 August 2020 Charge for the year At 31 July 2021 Net book value At 31 July 2021 At 31 July 2020 6 Debtors Prepayments Other debtors 7 Cash and cash equivalents Cash at bank |
Furniture and equipment £ 23,130 |
Total £ 23,130 23,130 13,363 1,465 14,828 8,302 9,767 2020 £ 1,250 8,527 |
||
|---|---|---|---|---|
| 23,130 | ||||
| 13,363 1,465 |
||||
| 14,828 | ||||
| 8,302 | ||||
| 9,767 | ||||
| 2021 £ 1,250 14,838 16,088 2021 £ 2,504 |
||||
| 9,777 | ||||
| 2020 £ 7,386 |
Page 11
Ministry of Christian Life Church
Notes to the Financial Statements for the Year Ended 31 July 2021
8 Analysis of net assets between funds
| 8 Analysis of net assets between funds | ||
|---|---|---|
| Tangible fixed assets Current assets Total net assets Tangible fixed assets Current assets Total net assets |
Unrestricted funds General £ 8,302 18,592 26,894 Unrestricted funds General £ 9,767 17,163 26,930 |
Total funds at 31 July 2021 £ 8,302 18,592 |
| 26,894 | ||
| Total funds at 31 July 2020 £ 9,767 17,163 |
||
| 26,930 |
Page 12
Ministry of Christian Life Church
Statement of Financial Activities by fund for the Year Ended 31 July 2021
| Total | Total | |
|---|---|---|
| Unrestricted | Unrestricted | |
| Funds | Funds | |
| 2021 | 2020 | |
| £ | £ | |
| Income and Endowments from: | ||
| Donations and legacies | 90,477 | 74,509 |
| Total income | 90,477 | 74,509 |
| Expenditure on: | ||
| Charitable activities | (90,513) | (72,302) |
| Total expenditure | (90,513) | (72,302) |
| Net (expenditure)/income | (36) | 2,207 |
| Net movement in funds | (36) | 2,207 |
| Reconciliation of funds | ||
| Total funds brought forward | 26,930 | 24,723 |
| Total funds carried forward | 26,894 | 26,930 |
This page does not form part of the statutory financial statements. Page 13
Ministry of Christian Life Church
Detailed Statement of Financial Activities for the Year Ended 31 July 2021
| Income and Endowments from: Donations and legacies (analysed below) Total income Expenditure on: Charitable activities (analysed below) Total expenditure Net (expenditure)/income Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward |
Total 2021 £ 90,477 90,477 (90,513) (90,513) (36) (36) 26,930 26,894 |
Total 2020 £ 74,509 |
|---|---|---|
| 74,509 | ||
| (72,302) | ||
| (72,302) | ||
| 2,207 | ||
| 2,207 24,723 |
||
| 26,930 |
This page does not form part of the statutory financial statements. Page 14
Ministry of Christian Life Church
Detailed Statement of Financial Activities for the Year Ended 31 July 2021
| Donations and legacies Sede Harlesden Leytonstone Gift Aid tax reclaimed Charitable activities Mission outreach (promoting objectives) Missionary church Church house rent Church rent Rates Light, heat and power Insurance Welfare Church events Telephone and internet Pastoral fees Printing, postage and stationery Equipment repairs and renewals Subscriptions Hire lease of motor vehicle and equipment Motor expenses Petrol or diesel Travel and subsistence Advertising and website costs Bookkeeping fees Bank charges Depreciation of plant and machinery |
Total 2021 £ 57,777 16,449 9,940 6,311 90,477 4,082 21,700 16,542 27,093 1,750 1,285 1,128 684 434 953 1,270 1,048 1,297 157 - 617 1,417 368 4,343 2,880 - 1,465 90,513 |
Total 2020 £ 41,684 11,537 16,011 5,277 |
||
|---|---|---|---|---|
| 74,509 | ||||
| 4,324 5,562 4,687 18,630 1,477 2,091 1,286 633 3,070 1,156 10,660 2,003 2,684 167 2,030 622 644 1,261 4,700 2,880 12 1,723 |
||||
| 72,302 |
This page does not form part of the statutory financial statements. Page 15