**Registered Company Number 05471608 (England and Wales) Registered Charity Number 1131256**
**REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
## **FOR**
**THE REALITY OF GRACE MINISTRIES INTERNATIONAL LIMITED**
## **THE REALITY OF GRACE MINISTRIES INTERNATIONAL LIMITED**
**CONTENT OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
|Report of the Trustees|1-5|
|---|---|
|Independent Examiner's Report|6|
|Statement of Financial Activities|7|
|Balance Sheet|8|
|Cash Flow Statement|9|
|Notes to the Cash Flow Statement|10|
|Notes to the Financial Statement|11-15|
|Detailed Statement of Financial Activities|16|
## **THE REALITY OF GRACE MINISTRIES INTERNATIONAL LIMITED**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022**
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2022. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
## **OBJECTIVES AND ACTIVITIES**
## **The Charity's objects are:**
## _**“To preach and declare to the world the matchless Grace of God;”**_
## _**"The relief of poverty worldwide."**_
Our motto: _**"To snatch sinners from the grips of satan, establish them in the liberty wherewith Christ has set them free, help for them, and to help them to discover God's plan and purpose for their life and to fulfil it and prepare them for the coming them to discover and run with their God given purpose for living and to and prepare them for the soon return of our Lord Jesus Christ".**_
These objects are charitable and operate for the public benefit. It pursues these objects by the operation of a centre for Christian worship at its premises in London. In determining how best to pursue these objects the Trustees have given regard the Charity Commission’s guidance on public benefit.
## **Objectives and aims**
The Charity's object is the advancement of the evangelical Christian faith worldwide. Our strategy in fulfilling this objective in particular but not exclusively is to evangelise and spread the Gospel and the teachings of the Christian Faith by:
_-Holding regular Worship Services in predefined themes to provide a bedrock for growing members in the Faith_
_-Building a community of Spirit-filled Christians relationally connected in church life and cluster small groups nationally and internationally._
- _-Running regular Christian services via Social media platforms._
_-Promoting and supporting local and international Christian ministries and events._
_-Producing and distributing of creative Christian media_
_-Building and operating a Christian Bible-based Worship Centre in London, UK with the ability to serve other locations_
_-Creating a Development Track for members that shows a clear transition from joining till they are developed to fulfil their God ordained purpose in society_
- _Provision of Various Counselling and Pastoral Help Services._
## **Significant activities**
Volunteers are involved in the activities conducted by The Reality of Grace Ministries International including:
_-Operating Sunday, Mid-week services and night vigils._
_-Running outreaches_
_-Running various life stage ministry events_
As the Global Pandemic is winding down, our outreach has expanded and enabled us to maintain the following initiatives:
_-Running Sunday services on-site and Midweek programmes online._
_-Leading Small Groups_
In the consideration of our activities, the Trustees have given regard to the Charity Commission's guidance on public benefit.
## **Strategies**
The Charity’s strategy for achieving this objective for the public benefit was:
To reposition itself to effectively reach those presently outside of its dominant demographic and fulfil the vision of the church.
Continued…
Page 1
## **THE REALITY OF GRACE MINISTRIES INTERNATIONAL LIMITED**
**REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022**
## _**Significant activities that contributed to the achievement of these objectives were:**_
Events and activity organised during the year in line with the charitable objectives to promote the Christian faith and help the less privileged.
Events and activities organised during the year in line with the charitable objectives to promote the Christian faith and help the less privilege and disadvantaged in our community includes: Holding church services and meeting three time a week, evangelism, visiting the sick in homes and hospitals and counselling.
Youth Programme which attempts to engage the youths and keep them off the street and crime.
The charity has over 20 volunteers who support and make an invaluable contribution to the operations of the charity. Some of the key departments include:
Intervessory Group; Children's Church; Ushering Department; Youth Church; Men's Fellowship; Women's Group; Evangelism; Technical; Video and Media; Choir; Hospitality.
## **ACHIEVEMENTS AND PERFORMANCE**
The results for the year, and the financial position as at the year end, are as set out in the attached financial statements. The Trustees consider the results to be satisfactory. The current policy of the Trustees is to maintain cash reserves of between £5,000 and £10,000. The minimum shall not fall below £5,000. As part of this policy, the minimum level of cash reserves, whilst forming part of the working capital, is regarded by the Trustees as being available solely to meet unforeseen expenditure arising outside the scope of normal day-to-day activities. The requirement was fulfilled or exceeded throughout the year.
## **FINANCIAL REVIEW**
## **Principal funding sources**
The Charity's principal funding source is from members and individuals who attend services and make contributions in the form of freewill offerings, tithes and other donations.
## **Investment policy and objectives**
The trustees are of the opinion that the performance of the charity from a financial standpoint is in line with their expectations and plans for the charity.
## **Reserves policy**
As at 31st March 2022, the level of reserves available for the Charity's use (i.e. unrestricted funds and not represented by fixed assets) was £285,563
These reserves are held to ensure that we can meet our commitments to providing our services and activities and staffing obligations in the event of a reduction or absence of funds/volunteer donations ; and to meet some key events that are capital intensive.
## **FUTURE PLANS**
The Charity continues to explore ways of furthering its charitable objectives in an effective manner by ensuring there is awareness of its services and by seeking opportunities to be more involved in the community.
The Charity seeks to provide services and activities that meet the needs of people and contribute to a positive change in the moral and spiritual climate in its environs, this reflects its Christian ethos and beliefs.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The Church is a charitable company limited by guarantee, incorporated on 3rd June 2005 and registered as a charity on 20th August
Continued…
Page 2
## **THE REALITY OF GRACE MINISTRIES INTERNATIONAL LIMITED**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022**
2009. It is governed by its Memorandum and Articles of Association and is managed by a Board of Trustees. Decisions are determined by a simple majority vote by the Trustees who set the strategic direction of the Charity.
Delegated authority has been given to the Executive Pastor and Leadership Team for the day-to-day running of the operations of the Charity.
The Trustees have assessed the major risks to which the Charity is exposed, in particular those relating to the specific operational areas of the Charity and its finances. The Trustees believe that by monitoring reserve levels, by ensuring controls exist over key financial systems and by examining the operational and business risks faced by the Charity, they have established effective systems to mitigate those risks.
The remuneration of the charity’s key management personnel is reviewed and set annually by the trustees. The following guiding principles are used in determining the appropriate level: Transparency; Appropriateness and benchmarking against external comparators; Expertise and experience; and Competitive recruitment and talent retention.
## **Recruitment and appointment of new trustees**
Trustees are selected on the basis of the contribution that they will make to the governance of the organisation and the skills that they will contribute. They are provided with copies of the "Charity Commission's Guidance to Trustees" and are also provided with training as and when required.
## **Risk management**
The Trustees review the major risks that the charity is exposed to at their meetings and are satisfied that systems are in place to manage the risks that have been identified. In particular, insurance cover is in place and the finances of the Charity are kept under review. Appropriate Disclosure & Barring Service check (DBS), supported by regularly reviewed policies are done for all those who work with children or other vulnerable groups with the Charity. Internal control risks are minimised by the implementation of procedures for authorisation of significant transactions and projects. Procedures are in place to ensure compliance with health and safety of members of staff, volunteers, clients and visitors to the Charity. Qualified and appropriately experienced employees are appointed and external consultants are engaged to advise on significant issues.
Continued…
Page 3
**THE REALITY OF GRACE MINISTRIES INTERNATIONAL LIMITED**
**REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022**
## **REFERENCE AND ADMINISTRATIVE DETAILS**
**The Reality of Grace Vision** -Snatch sinners from the grip of satan, establish them in the liberty where Christ has set them free **,** help them discover their purpose for living and prepare them for the soon return of Our Lord Jesus Christ.
## **Trustees and Directors**
Andrew Okungbowa Emmanuel Agholor Olaide Rokosu-Euzebio
## **Company's secretary**
Olaide Rokosu-Euzebio
## **Presiding Pastor**
Pastor Oluwole Adekunle
## **Registered Company number**
05471608 (England and Wales)
## **Registered Charity number**
1131256
## **Registered office**
7 Ruby Triangle, Sandgate Street London SE15 1LG
## **Bankers**
HSBC UK 85 Lewisham High Street London SE13 6BE
## **Independent Examiners**
Tolulope Fasanya, **AFA MIPA** Institute of Financial Accountants Anchor Business Solutions Limited 25/26 Rabans Close Aylesbury HP19 8RS
Continued...
Page 4
## **THE REALITY OF GRACE MINISTRIES INTERNATIONAL LIMITED**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022**
## **STATEMENT OF TRUSTEES' RESPONSIBILITIES**
The trustees (who are also the directors of The Reality of Grace Ministries International for the purposes of company law) are responsib for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law 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 charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charity SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether the applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
This report was approved by the board of trustees and signed on their behalf by:
## **Andrew Okungbowa**
24 October 2022
Page 5
## **THE REALITY OF GRACE MINISTRIES INTERNATIONAL LIMITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
## **INDEPENDENT EXAMINERS REPORT**
Independent Examiner's Report to the trustees of The Reality of Grace Ministries International Limited
I report on the accounts of The Reality of Grace Ministries International Limited for the year ended 31 March 2022 which comprise the Statement of Financial Activities, the Summary Income and Expenditure Account, the Balance Sheet, the Statement of Cash Flows and the related notes.
## **Respective responsibilities of trustees and examiner**
The trustees (who are also directors of the charitable company for the purposes of company law) are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under the Charities Act 2011, s.144(2) (the 2011 Act) and that an independent examination is needed.
Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:
examine the accounts under s.145 of the 2011 Act;
to follow procedures laid down in the general Directions given by the Charity Commission under s.145(5)(b) of the 2011 Act; and to 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 Commission. An examination includes a review of the accounting records kept by the charity 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 do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a "true and fair" view and the report is limited to those matters set out in the statement below.
## **Independent examiner's statement**
In connection with my examination, no matter has come to my attention:
- (1) which gives me reasonable cause to believe that in any material respect the requirements:
to keep accounting records in accordance with the Companies Act 2006, s.386 and to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Charities Statement of Recommended Practice: Accounting and Reporting by Charities, have not been met: or
- (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Tolulope Fasanya, **AFA MIPA** Institute of Financial Accountants Anchor Business Solutions Limited 240 Newport Road Broughton Milton Keynes MK10 7AP
3[rd] November 2022
Page 6
## **THE REALITY OF GRACE MINISTRIES INTERNATIONAL LIMITED**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022**
|Notes
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
Investment income
3
**EXPENDITURE ON**
**Charitable activities**
Charitable activities
4
**Total**
**NET INCOME**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**TOTAL FUNDS CARRIED FORWARD**|**31.03.22**
**Unrestricted**
**fund**
**£**
**223,280**
**12**
**223,292**
**191,959**
**191,959**
**31,333**
**254,231**
**285,563**|31.03.21
Total
funds
£
235,149
155|
|---|---|---|
|||235,304
180,787|
|||180,787|
|||54,517
199,715|
|||254,231|
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes form part of these financial statements
**Page 7**
## **THE REALITY OF GRACE MINISTRIES INTERNATIONAL LIMITED**
## **BALANCE SHEET**
## **FOR THE YEAR ENDED 31 MARCH 2022**
|Notes
**FIXED ASSETS**
Tangible assets
8
**CURRENT ASSETS**
Debtors
9
Cash at bank
**CREDITORS**
Amount falling due within one year
10
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**NET ASSETS**
**FUNDS**
Unrestricted funds
**TOTAL FUNDS**|**31.03.22**
**Unrestricted**
**fund**
**£**
**24,279**
**31,379**
**234,815**
**266,193**
**(4,908)**
**261,285**
**285,563**
**285,563**
**285,563**
**285,563**|31.03.21
Total
funds
£
7,088
30,413
269,588|
|---|---|---|
|||300,001
(52,858)|
|||247,143|
|||254,231|
|||254,231|
|||254,231|
|||254,231|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006 however, in accordance with Section 145 of the Charities Act 2011, the accounts have been examined by an independent examiner and their report has been included in these financial statements.
The directors (who are charitable company’s trustees for the purposes of charity law) acknowledge their responsibilities:
- ensuring that the charitable company keeps accounting records which comply with Section 386 and 387 of the Companies Act 2006 and
- preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of financial year and its net income or expenditure for each financial year in accordance with the requirements of Section 394 and 395 and which otherwise comply with requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The financial statements were approved by the Board of Directors and were signed on its behalf by:
## **Andrew Okungbowa**
24 October 2022
**Company number: 05471608 Charity number: 1131256**
**Page 8**
## **THE REALITY OF GRACE MINISTRIES INTERNATIONAL LIMITED**
## **CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2022**
|Note
**Cash flows from operating activities**
Cash generated from operations
1
Net cash provided by operating activities
**Cash flows from investing activities**
Purchase of tangible fixed assets
Net cash used in investing
**Change in cash and cash equivalent in**
**the reporting period**
**Cash and cash equivalent at the**
**beginning of the reporting period**
**Cash and cash equivalent at the end of**
**the reporting period**|**31.03.22**
**£**
**(10,778)**
**(10,778)**
**(23,995)**
**(34,773)**
**(34,773)**
**269,588**
**234,815**|31.03.21
£
81,991|
|---|---|---|
|||81,991|
|||(926)|
|||81,065|
|||81,065
188,523|
|||269,588|
||||
The notes form part of these financial statements
**Page 9**
## **THE REALITY OF GRACE MINISTRIES INTERNATIONAL LIMITED**
## **NOTES TO THE CASH FLOW STATEMENT**
## **FOR THE YEAR ENDED 31 MARCH 2022**
## **1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES**
|**Net income for the reporting period (as per the Statement of Financial**
**Activities)**
**Adjustment for:**
Depreciation charges
(Increase)/decrease in debtors
(Decrease)/increase in creditors
**Net cash provided by operations**
**SIS OF CHANGE IN NET FUNDS**
At 1.4.21
£
**Net cash**
Cash at bank
**269,588**
**269,588**
**Total**
**269,588**|**31.03.22**
**£**
**31,333**
**6,805**
**(966)**
**(47,950)**
**(10,778)**
Cash flow
£
**(34,773)**
**(34,773)**
**(34,773)**|31.03.21
£
54,517
8,982
18,492
-|
|---|---|---|
|||81,991|
|||**At 30.3.22**
**£**
**234,815**|
|||**234,815**|
|||**234,815**|
## **2. ANALYSIS OF CHANGE IN NET FUNDS**
The notes form part of these financial statements
**Page 10**
## **THE REALITY OF GRACE MINISTRIES INTERNATIONAL LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention
## **Going concern**
The trustees (who are the charitable company's directors for the purposes of company law) have assessed whether the use of the going concern basis is appropriate and have considered possible events or conditions that might cast significant doubt on the ability of the charity to continue as a going concern. The trustees have made this assessment for a period of at least one year from the date of approval of the financial statements. In particular the trustees have considered the charity's forecasts and projections and the possible implications should projected income and / or expenditure vary unexpectedly. The trustees have concluded that there is a reasonable expectation that the charity has adequate resources to continue to operate for the foreseeable future. The charity therefore continues to adopt the going concern basis in preparing its financial statements.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **Tangible fixed assets**
Depreciation is provided over a three years period which is deemed the useful economic life to write-off each asset on a straight-line basis.
|Office equipment|Straight-line|
|---|---|
|Furniture & fittings|Straight-line|
|Computer|Straight-line|
|PA System|Straight-line|
|Video Equipment|Straight-line|
|Motor Vehicle|Straight-line|
## **Taxation**
The charity is exempt from corporation tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Continued…
**Page 11**
## **THE REALITY OF GRACE MINISTRIES INTERNATIONAL LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **Hire purchase and leasing commitments**
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease
## **2. DONATIONS AND LEGACIES**
|**ONS AND LEGACIES**|||
|---|---|---|
|Donations
Gift aid
Other income
Job retention scheme|**31.03.22**
**£**
**155,989**
**31,379**
**8,373**
**27,539**
**223,280**|31.03.21
£
129,907
27,283
10,957
67,002|
|||235,149|
|**3. INVESTMENT INCOME**
Bank account interest
**4. CHARITABLE ACTIVITIES COSTS**
**Direct**
**costs**
£
Charitable activities
**58,576**
**SUPPORT COSTS**
**Management**
**£**
**Other resources expended**
Charitable activities
**130,831**
Bank charges
**52**
Independent examiner / Auditor fee
-
**130,883**
**5. NET INCOME (EXPENDITURE**
Net income (expenditure) is stated after charging/crediting
Independent examiner's /Auditor's remuneration
Depreciation - owned assets|**Support**
**costs**
£
**133,383**
**Governance**
**cost**
**£**
-
-
**2,500**
**2,500**|**31.03.22**
**£**
**12**
**31.03.22**
**Total**
**£**
**191,959**
**31.03.22**
**Total**
**£**
**130,831**
**52**
**2,500**
**133,383**
**31.03.22**
**£**
**2,500**
**6,805**|31.03.21
£
155|
|---|---|---|---|
||||**31.03.21**
**Total**
£
180,787|
||||**31.03.21**
**Total**
£
136,135
-
-|
||||136,135|
||||31.03.21
£
-
8,983|
Continued…
**Page 12**
**THE REALITY OF GRACE MINISTRIES INTERNATIONAL LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
## **6. STAFF COSTS**
|**31.03.22**
**£**
Salaries and wages
**85,418**
Tax and national insurance
**24,898**
pensions
**6,823**
**117,139**
The average number of employees during the year was as follows:
**31.03.22**
Ministry
**1**
Administration
**2**
**3**
There was no employee that received remuneration exceeding £60,000 during the period.|31.03.21
£
83,484
34,330
3,438|
|---|---|
||121,252|
||31.03.21
1
2|
||3|
|||
**7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
|**INCOME AND ENDOWMENT FROM**
Donations and legacies
Investment income (Bank interests received)
**EXPENDITURE ON**
**Charitable activities**
Charitable activities
Support costs
**Total**
**NET INCOME**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**TOTAL FUNDS CARRIED FORWARD**|**Unrestricted**
**fund**
**31.03.22**
**£**
**223,280**
**12**
**223,292**
**58,576**
**133,383**
**191,959**
**31,333**
**254,231**
**285,564**|Unrestricted
fund
31.03.21
£
235,149
155|
|---|---|---|
|||235,304
44,652
136,135|
|||180,787|
|||54,516
199,715|
|||254,231|
Continued…
**Page 13**
## **THE REALITY OF GRACE MINISTRIES INTERNATIONAL LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
## **8. TANGIBLE FIXED ASSETS**
|Office
Furniture &
Equipment
Fittings
£
£
**COST**
At 1 April 2021
12,576
20,188
Addition
-
-
At 31 March 2022
**12,576**
**20,188**
**DEPRECIATION**
At 1April 2021
11,015
20,188
Charge for the year
1,277
-
At 31 March 2022
**12,292**
**20,188**
**NET BOOK VALUE**
At 31 March 2022
**284**
-
At 31 March 2021
1,561
-
**9. DEBTORS**
**DEBTORS: AMOUNT FALLING DUE WITHIN ONE YEAR**
Trade debtors (Rental income)
Accrued income (Gift aid)
**10. CREDITORS: AMOUNT FALLING DUE WITHIN ONE YEAR**
Tax and national insurance (HMRC)
Accrued independent examination fee
Recovery loan scheme
**11. MOVEMENT IN FUNDS**
**Unrestricted funds**
General fund
**TOTAL FUNDS**|PA System
£
23,288
-
**23,288**
21,247
2,040
**23,288**
-
-
At 1.3.21
£
254,231
254,231|Motor
Vehicle
£
12,715
23,995
**36,710**
9,227.75
3,487
**12,715**
23,995
-
**31.03.22**
**£**
-
**31,379**
**31,379**
**31.03.22**
**£**
**2,408**
**2,500**
-
**4,908**
**Net**
**movement**
**in funds**
**£**
**31,333**
**31,333**|**Totals**
**£**
**68,767**
**23,995**|
|---|---|---|---|
||||**92,762**|
||||**61,679**
**6,805**|
||||**68,483**|
||||**24,279**|
||||7,088|
||||31.03.21
£
3,130
27,283|
||||30,413|
||||31.03.21
£
2,858
0
50,000|
||||52,858|
||||**At 31.12.22**
**£**
**285,564**|
||||**285,564**|
Continued…
**Page 14**
## **THE REALITY OF GRACE MINISTRIES INTERNATIONAL LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
Comparative net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|**Incoming**
**resources**
**£**
**223,292**
**223,292**|**Resources**
**expended**
**£**
**(191,959)**
**(191,959)**|**Movement**
**in fund**
**£**
**31,333**|
|---|---|---|---|
||||**31,333**|
## **12. CONTROLLING ENTITY**
There is no overall controlling entity.
## **13. RELATED PARTIES DISCLOSURE**
There was no transaction with the trustees during the period ended.
**Page 15**
## **THE REALITY OF GRACE MINISTRIES INTERNATIONAL LIMITED**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022**
|**INCOME AND ENDOWMENTS**
Donations and legacies
Other income
Job retention scheme
Gift aid
**Investment income**
Bank interest receivable
Total incoming resources
**EXPENDITURE**
**Charitable Expenditure**
Counselling
TV & Radio
Evangelism
Building Management and Establishment Expenses
Foodbank and Community Project
Services and Meetings
**Management & Administration expenses**
Staff Salaries
Tax & National Insurance
Pensions
Rent
Postage and Carriage
Stationery
Computer Accessories
Website Domain
Professional Fees
Software Subscriptions
Subscriptions
Data Protection Fees
Penalties
Disclosure & Barring Service(DBS)
Bad Debts
Office Equipment - Depreciation
Furniture & Fittings - Depreciation
Computer - Depreciation
**Finance**
Bank charges
**Governance**
Independent Examiner's/Auditor's remuneration
**Total resources expended**
Net income/expenditure|**31.03.22**
**£**
**155,989**
**8,373**
**27,539**
**31,379**
**223,280**
**12**
**223,292**
**1,243**
-
**16,910**
**9,637**
**13,196**
**17,590**
**58,576**
**85,418**
**24,898**
**6,823**
**4,620**
**519**
**86**
**213**
**73**
**3,050**
**40**
**537**
**35**
**65**
**48**
**3,130**
-
-
**1,277**
**130,831**
**52**
**2,500**
**2,552**
**191,959**
**31,333**|31.03.21
£
129,907
10,957
67,002
27,283|
|---|---|---|
|||235,149
155|
|||235,304|
|||1,523
6,068
2,993
9,418
8,751
15,900|
|||44,652
83,484
34,330
3,438
4,320
519
74
-
-
3,000
-
678
35
-
-
-
655
5,081
520|
|||136,135
-
-|
|||-|
|||180,787|
||||
|||54,517|
**Page 16**