## **Global Harvest Church (london)** **Charity No. 1129288** **Company No. 05484475** **Trustees' Report and Unaudited Accounts** **30June2022** Global Hanmst Clmwch (london) Tru5tees' Annual Report Independent Examinerfs Report Statement of Financial Acbvit*5 2to4 5t05 6t06 Summary Income and Expenditure ￿￿)Unt BalarKe Sheet 7t07 8t08 ststement of Cash Ilryws 9t09 Note5 to the IOtolS Detsiled Slatement of financial Aclbvits 16to17 Page I Globol N•n￿st Churth lknd(m) The truste￿ vtho arE also directors ofthe chaiityfortt* puryx>ses of the Companies Act 2006, present their report with the unaudited financial statemerts of the dwrityfor the year ended 30 June 2022. ljwity No. IIZ9288 PrhKApal Offl 83 Lime Grove Sidcup England DA15 8PH 83 Lime Gro¥e Sidcup DA15 8PH The Directors of the tharitsble cornpany are ltsTn￿eeS forthe purp05e5 of d￿rIty law. The followine Directors and Tn￿ee$ ser¥ed durin8the ￿ar. R.0. Adegbuyi 0.0. Kosoko O. Osinuga B.0. Thomas Executl¥e Pastor Intsachartered Ltd 85 GTeat Portland Street London WIW 7LT 8•nke 53 Hight street Grays RM17 6NH Page 2 Global Habvest The purpose of the charity a5 set trjt in its 8obernin8 dtxument are to: Advan￿ the Christian religion and to relieve poverty and sickness in accordafi￿ with Thri5tian principles in the United fingdom and in such other parts of the world as the Twstees mayfrom time to timethink fiL To we￿h tr￿ eoW In the cty of London with an opentlonal foojs in the HOrry￿ of DartftKd. Kent The Focus ofckn Work Our main objectives for the year contiThJed to be tt* athan￿ of the Chri￿lan relig￿ ar￿ the rekef of poverty and sicknes5. We have referred to the guidance contained in the Charity Commission's general guidance on public bertefft when reviewing our aims and objectives aThJ in planning our future actr¥itie5. In partKulaT, the trustees consider how planned activi￿ will contribute to the aims and obiecti4ts they have seL The strategies we Used to meet these Objectsb￿ duriTh8 the ￿ar indwjed: . Pr0¥75ion of Weekty Church SeThices on ￿TrdaYtO miThisterto the physical. spiritual ar￿ matsrial need5 of the con@￿an . Provision of Special Events and k4eeting5 to meetthe $￿tifiC needs OftargetEr(￿PS In the Churth such as Men. Women. Youth and Children. - Focusing on the Material needs of certain memLvs urthwrva ditFKult financtal situations due tothe Pandemic and ￿changeS in the ec(Thw situ*1￿. . Working other Christian aEencies arnl churc1￿5 in ion(kJn to a(fvarKe the preaching of the Gospel. . Provision of Pasttyal Cale for Corye8ants and other members of the community MiSs￿aryand Outreath Work In the first halfof the ￿ar. we carried on Iwr community initkitives to assistthe community Eet back into work and ewlling in thwr thosen career. From CV writir¥ to inteT¥iewtips. to setting personal development goals and being the best at worl n￿hIng was left untouched as WÈ pursued our quest to equip peopbe for the workplace. {physKal. mentsl and emoti￿1) We also held a C¢HKert arnl Christmas initiati¥es to reach out to the community. In the s￿Ond half ofthe >vr, we supwjrted our member5 thr￿h benevolent acti¥ities to assist those who were struggling and had105t theiriobs orwere dtsplaced from their homes. In addition, we planned and held personal development programrnes for cou*5. men a￿1 women. We a150 planned a development workshop for our Child￿n.5 departrnent ¥0￿￿teerS on how to best sup[￿ our Children, young adults and their parents during the pandemic and after. The Charwty s•Jccessfvlly raised a totsl Income of£64.018 during the year ended 30 June 2022. as against £34.694 in the previous year120211.The total eX￿ndItUre for the year was. £45.324 a5 agoin5t £32.730 in the prevtous year {20211. Net income therefoTe increased from £5.205 to É18.698. The Board of Trustees has examined the Chariivs requirements for reser¥*s In lieht of the rnaln risks to the orBanisation. It has estsblished a wlicy ¥tstheretrrf the unre5tritted fvnd5 not committed or invested ITr tangible ￿ed assets held by the dHrity should be between 3 and 6 fflonds of expenditure. The expenditure foryear ended 30June 2022 an￿nted to £45324. and therefore the targeted reserves should be between £11.331 and £22. 662 in Eeneral funds. The reserves are needed to meet the workir% capital requirements of the charlty and the trustees are nfident that at this le￿1 tly would be able to corfinue the turTent atti¥1b￿ of the Charrty in the event of a Significant drop in fvndin& P4e3 Glob•l Harvest Churth Ilondon) Trustees Annual Report The principal fvndinB ofthe tharity and how it 5UPPOrts the chaiiws key obFecti¥es are currentfy by vny of Donations and Grfts from congregants through the offering basket passed during Churth services and or congregants eivinE their offerin85 online through our bank details. The Charity plans continuing the acti¥itles ¢xrtlined In the forttKoming years subiectto satlsfactory fvnd•ng arrangement> Plans are also to become more acti¥e with¢n the Dartford commwity. Governing Document The Organis*ion is a charitable company ￿MI￿d trrf8uarantee. InC￿ated on 20th June 21x15 The company was established urKler a Mem(Trndum of A5￿XIa￿ whlch estsblished the objects and powers of the tharitable cornpany and is governed under its ArlKles of Asscxiation. In the event of the c0mpanyvK￿nd up members are required to contribute an amount not exceedin8£10. Recrultment and Appointment of Tn The directors of the company are also tharity tru5tee5 forthe wrposes of charity law and under the companrfs Articks are kn￿n as trust￿ Under the wequirements of the Mernorandum and Artitles of Association the trustees are eletted to seTht for a of three years after wh￿h thty must be rtreletted at the next Annual General meeti￿ All trustees 8i%ttheir tme voluntsrily and receive no benefrts from the charity. Due to the nature of Church trustees winted have been so selected on the basls oftheir falth. strenth of thararter, ski115 set in the awea of business managemenL Browth and commitn￿Tht to the vision of the tharity. The Trnstees are reswnsi14e for keeping proper accounting reconls that disdose with reasonable accuracy at any time the financial position ofthe tharity and to enable them to ensure that the financial statements comply with the Companies Act 21x16. The Tn￿ee5 are a150 respon5ilAe for safeguarding the assets of the tharity and hence tskin8 reasonable sleps for the Pre￿it￿ and detection of fraud and other irregularities. The above rel￿ has been prepared in actordano with the provisi￿5 appftsbte to tompanies subject to the small companies regime as set (Mrt in Part 15 of the Companies Act 2C¥)6 and in accordano with the (tharities SORP (FRS 102). Si8ned on behalf of the board 0.0. Kosoko Trustee 23 Marth 2023 Glob31 Harvest Chwth Oondon) . Independent Examinws Reyt I rewt to the charity on nry examin*iw ofthe financial statemerrts of Global Harvest Church (london) for the year ended 30June 2022 which comprise Ststement of FIna￿i•l Acliwties. the Summary Income and Expendi￿re A¢tounL the Balan￿ Strrt the Statement ofcash Flows the related notek A5the trustees of the charity (and also ts dtrert0￿ for the purw>ses of tompany law) you are responsible for the preparation of the financial ststements in accordan￿ with the requirements of the Companies Act 21￿16 llhe 2￿6 ACL Havin8 sattsfied myself that the financial ststements of the d￿lity are not required to be èudited under Part 16 of the 2006 Act and are eligible for Independent examination. I report in respect of my examination of your charitrls financial statements as carried (xrt under section 145 of the Charities Act 2011 l*he 2011 AtVI. In carrying my examination I ha¥*followed the OireciTh58i¥en bythe Charity Commi55ion u￿ler settion 145(5)Ib) of the 2011 I have completed myexamination. I can confirm that no mateTial Matte￿ have come to my attention in connection with the examination Bi¥ing me cause to belie¥* that: • accounting records were rrf)t kept in accordan￿ with section 386 of the 21x16 Act: or . the financial ststements do not accryd with those records; or . the financial ststements do not comply with the accountiTrd reqUIrern￿ts VfKler settion 396 of the 2006 £t other than any requirement that the finarKial Statements gY¥e a Irue ind fairf view which is not matter considered as part of an independent examilkitK￿. or • the financial ststements have n(* been prepared in ￿an￿ with the Charitie5 SORP IFRS 102). I have no concwn5 and have come across no other mattets in cfy)neclion w5th the examination to which attention should be drawn in this reffi in to enable a prow understsnding of the financial •r2 Iiri4eiiRfE•EO I TD. 4t¢Duwr41TS & i•$si*iss-14yisois Oluseye MalM)8unie FIFA. FIPA Intrachartered Ltd 85 Great Portland Street London WIW 7LT 23 March 2023 Page 5 Global HaThest Churth Oondonl Statement of Financial Activiiles fund5 Tolal funds Totsl funds 2022 2022 2021 Donations and lewies In¥estments 64.018 64.018 37.935 Total 64.022 64.022 37.935 Charitsble activilies 27382 17.942 27.382 17.942 24,227 8.503 45,324 45,324 32.730 Net gains on investm 18.698 18.698 5.205 Transfers between fvnds 84￿(kISses1 18.698 5.205 18.698 5.205 Total fijnds brought forward 28.964 23.759 Totsl funds carrfed lonward 47.662 47,662 Page.6 Global Harvest Chtjrch (london) Summary. Income and Expenditure Account for the year ended 30 June 2022 2022 2021 Income 64.018 37.935 Interest and Investment Income Gross income for the vear 64.022 37,935 28,773 Expendlture 39.842 Depreciation and charges for impairment ot tlxe(1 assets 5,482 Total expendilure lor the year Plet income belore tax lor the year 32,730 5,205 18.698 Net inoome for the year 18.698 5.205 Page 7 Global Harvesl Church {london) Balance Sheet at 30 June 2022 Company No. 05484475 Notes 2022 2021 Fixed assets Tanglble assets 10 16,444 16,444 9.8T; 9,871 Currenl assets Cash at bank and In hand 32,058 32,058 18401 31,218 47,662 47,662 19,903 19,903 (8101 19,093 28.964 28,964 Creditors.. Amount falling due within one year Net current assets 11 Total assets less current liabilities Nel assets excluding pension asset or liability Total net assets 47,662 28,964 The funds 01 the charity Restricled funds Unrestricted funds General funds 12 12 47,662 47.662 28,964 28.964 ReseThes T2 Tolal lunds 47.662 28.W These account% have been prepared in accordance wlth the 4ie¢lal provisions of Part 15 ol the Companlei Act 2006 relaling to small companies. For the year ended 30 lune 2022 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companles. The members have not required the company to obtain an audit in accordance with seclion 476 01 t Companies Act 2006. The directors acknowledge their responsibilities tor complying wlth the requirements ot the Companies Act 2006 wlth respect to accounting iecords and the preparation ol aGcounts. Approved by the board on 16 March 2023 And signed on its behalf by.. 0.0. Kosoko Truslee 23 March 2023 -131 Harvest Church (london) .yiement of Cash flows Ivi iiie year enoea do June 2022 Cash Ilows trom operalino aclivitlB trriltome per Statement of Financial-Activities 18.698 5.205 Adjustments for Depreclation ol property. plant and equipment Dividends, interest and rents from investments Increase In trade and other payables 5,482 14} 30 Net cash provided by opeialing activities 24.206 9,168 Cash flows trom invesling actlvi¢i£. Paymen15 lor PToperty, plant and equipmenl Dividends, interest and rents Irom inveslmenls 112,055) 17,771) Net cash used in investing activities {12,0511 17,771.1 Net ¢ash trom fir%aficinsJ acts¥ities .4et increase in cash 3nd cash equivalents 12.155 1.397 Cash and cash equivalenls at the beginning of the year 19.903 18.506 Cash and cash equivalents at the end of Ihe year 32.1)58 19,SYJ3 omponents of cash and cash equivalents Gash and tsdnk balances 32.058 19.903 32,058 19,903 Global Harvest Church (london} otes to the Accounls for the year ended 30 June 2022 1 Accounllng policies Basis of preparation The financial slalements have been prepared in accordance with Accounting and Reporting by Charities.. atatemenl ol Recommended Praclice applicable to charilies preparing their accounts in accordance wlth the Financial Reporting Standard applicable In the UK and Republic ol Ireland IFRS 1021 lelfective lanuary 20151 ICh3rities SORP IFRS1021), the Financial Reporting Standard applicable in the UK an Republlc of Ireland IFRS 102) and the Companles Acl 21Th. Change in ba515 01 accounling or to previous accounts Tfiere has been no change to the accounting policies (valuation rules and method of accounting) slnce last year and no changes have been made to accounts lor previous years. Fund accountino Unrestrlcted funds These are available for use al the dlscretion of the trustees in furtherance ol the general objects of Ihe charity. Designated funds These are unreslrscte(i funds earmarked by the trustees for particular purposes. Revaluatlon funds These are unrestricted funds which include a revaluatlon reserve representlng the restatement ol investment assets at thelr market values. These are available for use subject lo reslrictlons Imposed by the donor or through term5 of an appeal. Restricted lunds Income Recognlllon of income Income Is included in the Statemenl ol Financial Aclivilies (SOFA) when the charny becomes entitled to, and virtually Certain to receive, the income and the amount ol Ihe income can be measured with $uffl¢ienl reliabillty. Income with related Where income has related expeftditufe the income and related expenditure is expenditure reported gross in the SOF Donatlons and legacies Voluntary Income received by way of grafits. donatlons and gilts Is Included In the the SOFA when receivable and onty when Ihe Charity has unconditional entitlement to the income. These are only included in income Iwilh an equlvalent amounl In expendlturel where the benefil to thE Charity is reasonabty ouantitlable. measurable and material. Volunteer help The value ol any volunteer help received is nol included in the accounts. Investment Income This is Included in the accounts when receivable. Donated servlces and lacilllies Paoe If Global Ha￿est Church {london) Notes to the Accounts Expenditure Recognition ol expen￿lture Expenditure Is recognised on an accruals basis. Expendlture Includes any VAT which cannot be fully recovered. and is reported as part of the expenditure to whlch It relates. Expendilure on These comprise the costs associated with allracting voluntary income. fundraislnp raisina lunds Iradino costs and investmenl manaoement cosls Expenditure on These comprise Ihe costs Incurred by the Charlty In the delivery of its activltles and charitable activities services in Ihe furtherance of its objects. Includlng the making ot plants and governance costs. These include Ihose costs associaled with meeling the constitutional and statutory requirements ol the Charity, including any auditlindependent examination fees. G051s linked lo the slrategic management of the Charity, togelher with a share ol other adfflinistration costs. Other expenditure These are support costs not allocated to a particular activity. Governance costs Taxation The charity 15 exempt from corporation tax on its charttable activities. Tangible fixed ass81s and depreciatlDn Depreclation is provided at the lollowing annual rates in Order to write ofl each asset over Its estlmated useful lile.. Church Furniture & Equipment 25% Straight Line Trade and other deblors Trade and other debtors are recognised al the settlement amount due after any trafle dlscount offered. Prepaymenls are valued al the amouni prepaid nel of any trade dlscounts due. Cash and cash equivalents Cash and cash equivalents cofftpri$e ea5h at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three month5 or less and bank overdrafts. In the statement of financial position, bank overdratts are shown within borrowings or current liabililles. In the Statement of Cash Flows, cash and cash equivalents are shown net ot bank overdrafls thal are repayable on demand and lorm an integral part ol the company% cash management. Trade and other credilors Short term Gredilors are measuretl at Ihe transaclion price. Olher creditors and provisions are re¢ogni$ed where the charity has a present obligation resulting from a pasl event that will probably result in the transler of lunds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provislons are normally rec￿nISed at their settlement amount after allowing for any trade discounts due. Recelpt of donated goods, facilities and servlces All donated goods, facilities and services received are recognised within incoming resources and &xpenditUTe at an estimate ol the value to the chaiity Page11 Global Harve51 Church (london) Notes to the Accounts 2 Company status The company Is a prlvate company Ilmited by guarantee and consequently does not have share capital. 3 Statement of Financial Activities- pnor year Unrestricted lunds Total funds 2021 2021 Income and endowmenls Irom.. . Donatlon5 and legacies Total 37,935 37.935 37,93S Éxpenditure on- Charltable acllvitles Olher 24,227 8.50,3 32.730 24,227 8.5￿7 Total 32.73:. Net income 5.205 5.205 Net income before other galnsl(lossesS Other gains and losses.. Mel movement In lunds 5,205 5,205 5.205 Reconciliation of funds.. Totsl lunds brought forward Total Iltnds carried forward 23.759 28.gyi 23,759 4 Incoffle from donations and legacies Unrestricted Total 2022 Total 2021 Offering Tithe Sundry Income 42.955 20.565 42.955 20.565 498 64.018 13.401 24,533 64.078 37,935 5 Income from investments Unrestricted Tolal 2022 Total 2021 Bank Interest Page 12 Global Harvesl Church {london) otes to the Account5 6 Expenditure on charitable activities Unrestricted Total 2022 Total 2021 Expenditure on charitath.L actlvlties Pastor's Allowance Sernlce. Mln5s1ry an(J event costs Visitlng Mlnistrles Love glfts and donations Governance costs Legal and prolesslonal costs- Independent Examlnatlon lees 12,219 21,293 21,293 9.158 4,800 397 500 1,588 397 892 892 762 27,382 27,382 24,227 7 Other expenditure Unreslricted Tolal 2022 Total 2021 EmDloyee costs MoloT and travel costs Premlses costs Amortisation. deprecIall￿., impalrmenl. prolitlloss on dlsposal ol flxed assets General administratlve costs Legal and professional costs 1692 2.692 36 &31 4.713 4,n 5.482 5.482 3.957 3.210 1,413 17.942 3,210 1,413 17.942 3,644 535 8,503 8 Net income before transfers 2022 2021 This is stated after chargiwt- Depreclation of owned fixed assets 9 Staff costs No employee received emoluments in exce&8 of £60.0￿￿. 3.957 2Iobal Harvesl Church Ilondon) Notes to the Accounts 10 Tangible fixed assets Church Fjrniture & Equipmt.- Total Cost or revaluatlon At1 Julv 2021 Additlons At 30 June 2022 -jAFeciation and Impalrmenf Al 1 July 2021 Deprecialion charae tor Ihe year AI 30 June 2W22 el book values At 30 lune 2022 At 30 June 2021 il. Creditors: amounts falling due within one year 39.463 11055 51.518 39.463 11055 51.518 29.592 29.592 5.482 5.482 35.074 35,074 16,444 9,871 16.444 9,871 2L122 Other creditors 810 810 12 Movement In funds Incoming resources (including other At 1 July gainsllosses 2021 Resources At 30 June expended 2022 Restricted funds.. Unrestricted fun(Is= GeneTal funds 28.964 145.3241 47.662 Total funds 13 Analysis of nel assels between funds 28,964 64,022 145,324) 47.662 Uniestri¢le tuods Total Fixed assets Net current assets 16,444 31.218 47,662 16,444 31.218 47,￿, Pape 14 Global Harvest Church (london) Notes to the Accounts 14 Reconciliation of net debt 'At 1 July 2021 At 30 June 2022 Cash flows Cash and cash equivalents 19.903 9.903 12.155 12,155 32.058 32,058 Nel debl 19.903 12.155 32.058 15 Relatefl party disclosure5 Controlling party The company is Ilffllted by guarantee and has no share capital: thus no single party controls Ihe company. Global Harvest Church {londonl Detailed Stalement of Financial Activities lor the year ended 30 June 2022 Unreslricted funds Total funds Total tunds 22 2022 2021 Income and endowments froFv_' Oonatlons and legaciei otlerlnq Tilhe Svndry Income 41955 20.565 41955 20.565 13,401 24.533 64.018 64,018 37.935 Investments 8aTrk Interest Total income and endowments 64.022 64.022 37.935 Expenditure OR.. Charllable aclivltles Pastor's Allowance Service. Mlnlstry and event costs Vlsitlng Minislrles Love gifts and donallons 12.219 9.158 500 1.588 23.465 21.293 4.800 397 26.490 21.293 4.800 397 26,4 Governance costs Legal and professional costs- Independenl Examinalion fees 892 892 762 892 762 Total of expenditure on Charltable actiyltses 27.382 27.382 24.227 Employee costs Staff recruitment Staff traininp 1651 41 2.692 2,651 41 1692 36- Molor and travel costs 14iiiel and subsistence 432 432 432 432 331 331 Premises cosfs Rent 4.713 4.713 4,713 4,713 Jieneral admlntstratNe costs. including depreciation and amortisatro Deprecialion of Church Fumituri & Equlpmenl Bank charges 5,482 5,482 3,957 31 31 308 Page 16 Global Haniest Church (london) Detailed Statement of Financial Actlvilies tqulpmeni expensed quipmeni repairs anD mainienanci. General insurances Inlormatlon and publications Postage and couriers Software. IT support and relattru 133 133 105 11L4 203 932 14 932 14 1,242 91 1,103 1,103 1,110 Stationery and prtnllng Sundry expenses Telephone, lax and broadband 126 50 513 8.692 126 50 513 8.692 400 493 7.601 Legal and professional cosls 40n5ullaTrcy leE5 Solicitor% fees Qther legal and professlonal costs 1.400 13 13 1.413 17.942 45.324 1.413 17,942 45,324 535 Tolal ol expenditure ol other costs Total expenditure Nel gains on investments 8,503 32.730 Net income 18.698 18.698 5.205 Net Income before other gainsl(lossesl Other Gaini 18.698 18.698 5.205 Net movemenl ih lunds 18.698 18.69& 5.205 Aeconciliation of funds= Total funds brouaht forward 28.964 28.964 Total funds carrled forwar(I 47.662 47,662 28.964 Page 17