CHARITY NUMBER 1131394
COMPANY NUMBER 6715405
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2020
FOR
APOSTOLIC FAITH MISSION INTERNATIONAL (GILGAL)
APOSTOLIC FAITH MISSION INTERNATIONAL (GILGAL)
(A Company Limited by Guarantee)
| Contents | Page |
|---|---|
| Charity and Company Information | 1 |
| Trustee Reports | 2-3 |
| Independent Examiner's Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 |
| Notes to the Financial Statements | 7,8 & 9 |
APOSTOLIC FAITH MISSION INTERNATIONAL (GILGAL)
(A Company Limited by Guarantee)
Legal and administrative Information
Charity Number 1131394 Registered Office 33 Tristram Road Bromley BR1 5LX
Trustees Henewaa Twene Apostle Dr. Degraft Osei Kwame Nana Yaw Adade-Mayer
Accountants The Blessing & Contract Ltd 16 Leonard Road Streatnam Vale London SW9 7JP
Financial Statements for the year ended 31 October 2020
Company Number 6715405 (England and Wales)
Page 1
Apostolic Faith Mission International (Gilgal) (A company limited by guarantee) Report of the trustees (incorporating the directors’ report) for the year ended 31 October 2020
The trustees present their report and the financial statements for the year ended 31 October 2020. The trustees, who are also directors of Apostolic Faith Mission International (Gilgal) for the purposes of company law and who served during the year and up to the date of this report are set out on page Structure, governance and management
Objectives and activities
To advance the Christian Faith in accordance with the statement of beliefs in such ways and in such parts of the United Kingdom or the world as the trustees from time to time may think fit, To relieve sickness and financial hardship and to promote and preserve good health by the provision of funds goods or services of any kind, including through the provision of counselling and support in such parts of the United Kingdom or the world as the trustees from time to time may think fit. To advance education in such ways and in such parts of the United Kingdom or the world as the trustees from time to time may think fit The trustees must use the income and may use the capital of the church in promoting objects
Statement of trustees’ responsibilities
The trustees (who are also directors of Apostolic Faith Mission International (Gilgal) for the purpose of company law) are responsible for the Trustees’ Annual Report and the financial statements in accordance with applicable law and 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 the incoming resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:
- Select suitable accounting policies and them consistently; - Observe the methods and principles in the charities SORP;
Make judgements and estimates that are reasonable and prudent State whether UK 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 the charitable company will continue in operation.
Page 2
Apostolic Faith Mission International (Gilgal) (A company limited with guarantee) Report of the trustees’ (incorporating the directors’ report) for the year ended 31 October 2020
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 which 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.
Small company provisions
This report has been prepared in accordance with the special provisions for small companies under Part 15 of the Companies Act 2006.
On behalf of the board
Hanewaa Twene Director
Page 3
Apostolic Faith Mission International (Gilgal) (A company limited by guarantee)
Independent examiner’s report to the trustees on the unaudited financial statements of Apostolic Faith Mission International (Gilgal)
I report on the accounts of Apostolic Faith Mission International (Gilgal) for the year ended 31 October 2020 set out on pages 2 to 9.
Respective responsibilities of trustees and independent examiner
The charity’s trustees (who are also the directors of the company for 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 section 43(2) of the Charities Act 1993 (the Act), as amended by section 28 of the Charities Act 2006 and that an independent examination is needed. It is my responsibility to examine the accounts under section 43(3)(a) of the Act, as amended; and to state whether particular have come to my attention.
Basis of independent examiner’s statement
The examination was carried out in accordance with the General Directors 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 matters. The procedures undertaken do not provide all the evidence that would e 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:
(i) Which gives me reasonable cause to believe that in any material respect the requirements:
To keep proper accounting records I accordance with section 386 of the Companies Act 2006; 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 statement of Recommended Practise: Accounting and Reporting by charities, have not been met; or
(ii) To which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
The Blessing & Contract Ltd Independent examiner
Page 4
Apostolic Faith Mission International (Gilgal) (A Company Limited by Guarantee) Statement of Financial activities ( Incorporating the Income and Expenditure accounts ) For the year ended 31 October 2020
| Notes Incoming Resources Incoming resources from generating funds 2 Total Incoming Resources Resources Expended Travel Expenses Professional fees Loan Repayment Communications and IT Administration expenss Printing, Stationery & Postage Refreshments & Entertainment Depreciation and impairment Voluntary Expenses - Cab bill Rental of Premises Charity Donation General Expenses Members welfare TV & Radio Evangelism Legal Services Total resources expended Net incoming/(outgoing) resources 3 for the year Net income / ( expenses ) Total funds brought forward Total funds carried forward |
Unrestricted funds £ 58489 58489 616 500 400 0 6362 358 175 1201 369 1480 0 4669 1809 6144 1350 25433 33056 27083 60139 |
2020 Total 58489 58489 616 500 400 0 6362 358 175 1201 369 1480 0 4669 1809 6144 1350 25433 33056 27083 60139 |
2019 Total 32027 |
|---|---|---|---|
| 32027 | |||
| 1075 990 3100 0 482 206 1800 1501 1846 2765 500 0 9671 5404 0 |
|||
| 29341 | |||
| 2686 24397 |
|||
| 27083 |
Page 5
Apostolic Faith Mission International (Gilgal) (A company limited by guarantee) Balance Sheet as at October 2020
| Notes Fixed Assets Tangible assets 5 Current Assets Debtors 6 Cash at bank and in hand Creditors: amount falling due within one year 7 Net Current Liabilities Efficiency/Deficiency of assets Funds Unrestricted Income funds Total Funds |
£ 0 66704 66704 -11368 60139 60139 |
2020 £ 4803 55336 60139 |
£ 0 32397 32397 -11318 27083 27083 |
2019 £ 6004 21079 |
|---|---|---|---|---|
| 27083 |
In approving these financial statements as trustees of the company we hereby confirm:
a)That for the year stated above the company was entitled to the exemption conferred by section 477 of the companies Act 2006;
b)That no notice has been deposited at the registered office of the company pursuant to section 476 of the companies Act 2006 requesting that an audit be conducted for the year ended 31 October 2020
c)That we acknowledge our responsibilities for:
(1) Ensuring that the company keeps proper accounting records which comply with section 386 of the Companies Act 2006,and
(2) Preparing financial statements which gave a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit or loss for the year then ended in accordance with the requirements of sections 394 and 395, and which otherwise comply with the provisions of the Companies Act relating to financial statements so far as applicable to the company. These financial statements are prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies and in accordance with the Financial Reporting Standard for smaller Entities (effective April 2008). The Financial Statements were approved by the Board on 26/07/2021, and signed on its behalf by
Henewaa Twene Director
The notes on page 7 to 9 form an integral Part of these financial statements
Page 6
The Apostolic Faith Mission International (Gilgal) (A Company limited by Guarantee) Notes to the financial Statements for the year ended 31 October 2020
1. Accounting Policies
The principal Accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and the preceding year.
1.1 Basis of Accounting
The financial statements are prepared under the historical cost convention and in accordance with the financial Reporting Standard for Smaller Entities ( effective April., 2008), the Statement of Recommended Practice “Accounting and Reporting by Charities’ issued in march 2008 (SORP’ 2005) AND THE Companies Act 2006.
1.2 Incoming Resources
All incoming Resources are included in the statement of the financial activities when the Charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income: Voluntary income is received is received by way of Grants, donation, and gifts and is included in full the statement of financial activities when receivables, Grants where an entitlement is not conditional on the delivery of a specific performance by the charity are recognised when the charity becomes conditionally entitled to the grant.
Donated services and facilities are included at the value to the charity where this can be quantified. The value of services provided by volunteers has not been included. Gifts donated are included in the income resources within activities for generating funds when they are sold.
1.3. Resources Expanded
Expenditure is recognized on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the Expenditure to which it relates. Costs of generating funds comprise the costs associated with attracting voluntary income and the cost of trading for fundraising purposes including the charity’s shop. 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 cost of an indirect nature necessary to support them.Fundraising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of of the charitable activities.
1.4 Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less accumulated depreciation. Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows.
Fixtures, fittings and equipment – 20% reducing balance
Page 7
Apostolic Faith Mission International (Gilgal) (A company limited by guarantee) Notes for Financial statements for year ended 31 October 2020
| 2 | Voluntary Income: | ||
|---|---|---|---|
| Unrestricted Funds | 2020 | 2019 | |
| £ | £ | ||
| Tithes, Offering and Donations | 58489 | 32027 | |
| 58489 | 32027 | ||
| 3 | Net Incoming Resources for the year: | ||
| 2020 | 2019 | ||
| £ | £ | ||
| Net Incoming resources is stated after | 60139 | 27083 | |
| charging and other amount written - | 60139 | 27083 | |
| depreciation Off Tangible fixed assets. |
4 Taxation:
The Charity's activities falls within the exemptions afforded by the Provision of the income and corporation.
Taxes Act 1988. Accordingly, there is no taxation charge in this accounts
5 Tangible Fixed Assets:
| Cost At 1 November 2019 Additions At 31 October 2020 Depreciation At 1 November 2019 Charge for the Year At 31 October 2020 Net Book Value At 31 October 2020 At 31 October 2019 |
2020 fixtures, fittings & Equipments £ 6004 0 6004 31372 1201 32573 4803 6004 |
2019 fixtures, fittings & Equipments £ 7355 150 |
|---|---|---|
| 7505 | ||
| 29871 1501 |
||
| 31372 | ||
| 6004 7355 |
Page 8
Apostolic Faith Mission International (Gilgal) (A company limited by guarantee) Notes for Financial statements for year ended 31 October 2020
| 6 Debtors Other Debtors 7 Creditors: Amount falling due within 1 year Bank Overdraft Loan from Church Members Trade Creditors Professional/Accountancy Charges Accruals and Deferred Income |
2020 £ 0 2020 £ 0 10868 0 500 0 11368 |
2019 £ 0 |
|---|---|---|
| 2019 £ 0 10868 0 450 0 |
||
| 11318 |
8
Company Limited by Guarantee
Apostolic Faith Mission International (Gilgal) is a company limited by guarantee and Accordingly does not have a share capital.
Every member of the company undertakes to contribute such amount as may be required not exceeding £1 to the assets of the charitable company in the event of its being wound up while he or she is a member, or within one year after he or she ceases to be a member.
Page 9