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HOUSE OF WELLS LIMITED
Report and Accounts
Year ended 30 June 2021
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3 Worcester Avenue, Old Swan, LIVERPOOL L13 9AZ t: 01513647913
e: aamatthew@aol.com
| Contents | Page |
|---|---|
| Company Information | 1 |
| Trustees' Annual Report | 2-7 |
| Independent Examiner's Report | 8 |
| Statement of Financial Activities | 9 |
| Balance Sheet | 10 |
| Cash Flow Statement | 11 |
| Notes to the Accounts | 12-16 |
| The following page does not form part of the Statutory Accounts | |
| Detailed Statement of Financial Activities with Comparatives | 17 |
House of Wells Limited Trustees' Annual Report for the Year Ended 30 June 2021
Company Information
| Charity Name: | House of Wells Limited |
|---|---|
| Directors/Trustees: | Ms Oluwakemi Onakoya |
| Mr Emmanuel Sowonola | |
| Mr Abdul Kuku | |
| Mr Abraham Dosunmu | |
| Secretary: | Ms Oluwakemi Onakoya |
| Key Staff: | Richard Oyin Adeniji |
| Kemi Oyin Adeniji | |
| Governing Document: | Memorandum and Articles of Association |
| dated 23 June 2008 | |
| Charity Commission No: | 1133474 |
| Company House No: | 06627042 |
| Registered Office and | 19 Lexden Road,Mitcham, Surrey. |
| Operational Address: | United Kingdom. CR4 9AR |
| Accountants: | AA Matthew & Co |
| Newspring House | |
| 3, Worcester Avenue | |
| Old Swan | |
| Liverpool | |
| L13 9AZ | |
| Bankers: | HSBC, 23 Ripple Road |
| Barking, Essex | |
| IG11 7NW |
Page 1
House of Wells Limited Trustees' Annual Report for the Year Ended 30 June 2021
Objects of the charity
The main charitable objectives of House of Wells Limited as set out in the objects contained in the charity's declaration of trust are:
a. The advancement of the Christian religion in particular but not exclusively to South Africa for the benefit of the public.
b. The relief of financial hardship among children in South Africa through the provision of food, schooling, uniforms, tuition fees and such other support as the Trustees may from time to time determine.
c. Propagating the message of salvation to the needy world through spoken and written personal witness and using all available media.
d. To communicate the message of hope, faith and peace in order to build a community based on love
Ensuring Our Work Delivers Our Aims
We review our aims, objectives and activities each year. This review looks at what we achieved and the outcomes of our work in the previous 12 months. The review looks at the success of each key activity and the benefits they have brought to those groups of people we are set up to help. The review also helps us ensure our aims, objectives and activities remained focused on our stated purposes. We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives they have set.
The Focus of Our Work
Our main objectives for the year continued to be the advancement of the Christian religion and the relief of poverty and sickness. The strategies we used to meet these objectives included:
-
Missionary and Outreach Work to the children and their families
-
Providing weekly Life skill training
-
Feeding Children
-
Undertaking regular fortnightly Home visits to children most at risk particularly those suffering from HIV/AIDs and a lack of parental support.
-
Organising fortnightly weekend class for Teenagers
-
Organising extra tutorial classes for the children
-
Organising excursions for the children
-
Organising an annual Christmas Party for the children.
-
Setting up a Music Academy
-
Active Fundraising 11. Building strategic alliance with partner organisations
-
Building awareness of the Charity’s work through social media.
Page 2
House of Wells Limited Trustees' Annual Report for the Year Ended 30 June 2021
Financial Review
The trustees approve an annual budget and give regular attention to financial results, variance from budgets and cash flow. Income was principally derived from the generous gifts and voluntary support of members of the Charity.
For the year, the charity's income (including recoveries of gift aid) was £63,655 (2020: £47,904) and its expenditure was £52,787 (2020: £48,945), which resulted in a Surplus of £10,868 (2020: Deficit of £1,041).
The trustees have considered the Charity’s current financial position and projections for the coming 12 months. The trustees are satisfied that the charity is and will remain solvent through that period.
Principal Funding Sources
The Charity's principal funding source continues to be by way of individual donations and donations from partner organisations.
Reserves Policy
The Board of Trustees has examined the Charity's requirements for reserves in light of the main risks to the organisation. It has established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets held by the charity should be between 3 and 6 months of the expenditure.
The expenditure for Year ended 30th June 2021 is £52,787 and therefore the targeted reserves should be between £13,197 and £26,394 in general funds. The reserves are needed to meet the working capital requirements of the charity and the trustees are confident that at this level they would be able to continue the current activities of the Charity in the event of a significant drop in funding. This general reserve policy has not been met this year as in previous years.
Plans for Future Periods
The Charity continues to explore ways of furthering its charitable objectives in an effective manner by ensuring there is awareness of its services and getting more involved in the community in which it operates.
The Charity seeks to provide services and activities that meet the needs of the children and this reflects its Christian ethos and beliefs in order to effect change in the moral and spiritual climate of South Africa, Zimbabwe, Kenya and the other countries the Charity intends to have a presence.
Page 3
House of Wells Limited Trustees' Annual Report for the Year Ended 30 June 2021
The Charity and Covid-19
The Covid-19 Pandemic has had a profound impact on House of Wells Limited since the introduction of control measures in March 2020. The Charity has had to adapt its operating model and religious practices in line with the regulations. These adjustments were most acute for our outreaches, as we are unable to physically attend to the needs of the people we intend to reach.
The effect of the pandemic has necessitated significant investment in digital insfrastructure to enable smooth running of our operations to meet the needs of the People.
The implications on Charity life have become most severe in the below areas:
a. Inability to physically visit the children in their homes;
- b. Cancellation of face-to-face outreaches;
c. Cancellation of missions
As we begin to emerge from an extended period of sheltering and social distancing, there are residual concerns about physical outreach engagements and income.
We have set out below interventions undertaken to mitigate the impact of the pandemic on income and community engagement:
a. Strict implementations of Covid - 19 protocols in all our outreaches.
b. We use collaboration tools (Zoom) and social media platforms (Youtube, Facbook, Twitter and Instagram) for some of our outreaches where possible.
c. Sensitization of partner donors on use of online platforms to make donations.
Page 4
House of Wells Limited Trustees' Annual Report for the Year Ended 30 June 2021
Structure, Governance and Management
Governing Document
The Organisation is a charitable company limited by guarantee, incorporated on 23 June 2008 and registered as a charity on 7th January 2010 (the Charity).The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association.
Recruitment and Appointment of Trustees
The directors of the company are also charity trustees for the purposes of charity law and under the company's Articles are known as trustees. Under the requirements of the Memorandum and Articles of Association the trustees are elected to serve for a period of three years after which they must be re-elected at the next Annual General Meeting.
All trustees except the Senior Minister give their time voluntarily and receive no benefits from the charity.
Due to the nature of Charity work, trustees appointed have been so selected on the basis of their faith, strength of Character, skills set in the area of business management and growth and commitment to the vision of the charity.
Trustees Induction and Training
Most trustees are already familiar with the practical work of the charity. Additionally new trustees would be invited as required and encouraged to attend a series of short training sessions to familiarise themselves with the charity and the context within which it operates. These sessions would be jointly led by the Chair of Trustees and the Chief Executive or Senior Minister of the Charity and cover:
The Obligations of Trustees
o The Main documents which set out the operational framework for the charity including the
Memorandum and Articles.
Resourcing and the current finanicial position as set out in the latest published accounts Future plans and objectives
A Question & Answer pack would be prepared which draws information from various Charity Commission publications signposted through the Commission's guide "the Essential Trustee" as a follow up to these sessions. This will be distributed to all new trustees along with the Memorandum and Articles and the latest financial statements.
Page 5
House of Wells Limited Trustees' Annual Report for the Year Ended 30 June 2021
Risk Statement
The trustees recognise the importance of assessing and managing risk associated with the charity's objectives. The process of identifying risk is on-going and is an essential part of the work of the trustees and Management Team. The charity has a set of comprehensive policy and procedure documents in place to ensure on-going identification and management of foreseeable risks.
Financial risk is mitigated through the adoption of comprehensive budgeting and reporting processes. Policy documents relating to risk and compliance issues are reviewed and updated annually. Current policies include:
- Safeguarding children 2. Health and safety 3. Equal opportunities 4. Fire safety and evacuation 5. Employment including complaints and disciplinary issues 6. Privacy and data protection 7. Finance Processes 8. Conflict of Interest
The trustees and staff are aware of their responsibilities with regard to the new GDPR regulations and action has been taken to ensure compliance.
Organisation
House of Wells Limited is governed by a Board of Trustees elected to serve the charity and run its affairs. Annually the Board reviews the range of skills it has available and uses its power of co-option to ensure that gaps are filled. There are a number of other criteria that a trustee must meet. The Board of Trustees are assisted by Missionary leaders.
The Board of Trustees meet quarterly and are responsible for the strategic direction and policy of the Charity. The Missionary leader is ably assisted by an adminstrative staff who implement day
to day operations. The adminstrative team continue to develop their skills and working practices in line with good 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 as at the balance sheet date and of its incoming resources and applications of resources, including income and and expenditure, for the financial year. In preparing those financial statements the Trustees should follow best practice and:
o Select suitable accounting policies and then apply them consistently;
o Make judgements and estimates that are reasonable and prudent
o Prepare the Financial Statements on the on going basis unless it is in appropriate
to presume that the charity will continue in business.
Page 6
House of Wells Limited Trustees' Annual Report for the Year Ended 30 June 2021
Organisation
The Trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enables them to ensure that the financial statements comply with Companies Act 2006. 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.
Members of the Board of Trustees
Members of the Board of Trustees, who are directors for the purpose of Company law and trustees for the purpose of Charity law, who served during the year and up to the date of this report are set out on page 1.
In accordance with company law, as the company's directors, we certify that:
So far as we are aware, there is no relevant information of which the company's accountants are unaware; and as the directors of the company we have taken all necessary steps that we ought to have taken in order to make ourselves aware of any relevant information and to establish that the Charity's accountants are aware of that information.
This report has been prepared by the Order of Trustees:
Ms Oluwakemi Onakoya Director/Trustee
30th March 2022
Page 7
House of Wells Limited
Independent examiner’s report to the trustees of House of Wells Limited for the Year Ended 30 June 2021
I report to the charity trustees on my examination of the accounts of House of Wells Limited for the year ended 30 June 2021 on pages 9 to 16 following, which have been prepared on the basis of the accounting policies set out on pages 12 and 13.
Responsibilities and basis of report
As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
Independent examiner’s statement
The Charity’s gross income did not exceed £250,000 therefore our examiner need not be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a Fellow of the Association of Accounting Technicians, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the Charity as required by section section 130 of the Charities Act 2011;
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of 2011 Act 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; or
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
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.
Mr Matthew Okuboyejo FCA, MAAT
Association of Accounting Technicians
AA Matthew & Co
Newspring House 3, Worcester Avenue Old Swan Liverpool L13 9AZ
30th March 2022
Page 8
House of Wells Limited
Statement of Financial Activities (including Income and Expenditure Account) for the Year Ended 30 June 2021
| 2021 | 2021 | 2020 | |||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||
| Funds | Funds | Funds | Funds | ||
| £ | £ | £ | £ | ||
| Notes | |||||
| Incoming resources | |||||
| Incoming resources from generated funds: | |||||
| Voluntary Income: | |||||
| Donations and Offerings | 3 | 63,654 | - | 63,654 | 47,903 |
| Bank Interest | 4 | 1 | 1 | 1 | |
| 63,655 | - | 63,655 | 47,904 | ||
| Total incoming resources | |||||
| Resources expended | |||||
| Cost of generating funds | |||||
| Costs of generating voluntary in | 5 | 1,125 | - | 1,125 | 846 |
| Charity activities | 6 | 49,787 | - | 49,787 | 47,424 |
| Governance Costs | 7 | 1,875 | - | 1,875 | 675 |
| Total resources expended | 52,787 | - | 52,787 | 48,945 | |
| Net Incoming resources before | other | 10,868 | 10,868 | (1,041) | |
| recognised gains | |||||
| Net movement in funds | 10,868 | 10,868 | (1,041) | ||
| Reconciliation of Funds | |||||
| Total funds brought forward | 507 | - | 507 | 1,548 | |
| Total funds carried forward | 11,375 | 11,375 | 507 |
There were no recognised gains or losses for the period other than those included in the Statement of Financial Activities.
All Income and expenditure derive from continuing operations.
The statement of financial activities also complies with the requirements for an income and expenditure account required by the Charities Act 2011.
The notes on Pages 12 to 16 form part of these accounts.
Page 9
House of Wells Limited
Balance Sheet as at 30 June 2021
| Notes Currents assets Cash at bank and in hand 12 Creditors: amounts falling due within one year 10 Net Current Assets Net Assets Unrestricted funds General Funds 14 Total Funds |
2021 £ 12,179 12,179 (804) 11,375 11,375 11,375 11,375 |
2020 £ 1,291 |
|---|---|---|
| 1,291 (784) |
||
| 507 | ||
| 507 | ||
| 507 | ||
| 507 |
The Charitable Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th June 2021
Responsibilities of Directors/trustees:
-
a. The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 2021 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 whose report forms part of this document.
-
b. The directors/trustees acknowledge their responsibilities for complying with the requirements of the companies Act with respect to accounting records and the preparation of accounts.
The Financial Statements were approved by the board on 16th March 2022 and were signed on it's behalf by:
Ms Oluwakemi Onakoya Director/Trustee
The notes on Pages 12 to 16 form part of these accounts.
Page 10
House of Wells Limited Cash Flow Statement
for the Year Ended 30 June 2021
| Note Cashflows from operating activities: Net cash provided by (use in) operating activities A Cashflows from investing activities: Net cash provided by (use in) investing activities Cashflows from financing activities: Net cash provided by (use in) financing activities Change in cash and equivalents in the reporting period Cash and equivalents at the beginning of the year B Cash and equivalents at the end of the year B NOTES TO THE CASH FLOW STATEMENT Note A: Reconciliation of net income/(expenditure) to net cash fl Net income/(expenditure) for the reporting period (as per the statement of financial activities) Adjustments for: Depreciation Charges and provisions for impairment (Increase)/Decrease in debtors Increase/(Decrease) in creditors Net cash provided by (used in) operating activities Note B: Analysis of cash and cash equivalents Cash at bank with immediate access Total Cash and Cash equivalents |
2021 £ 10,888 10,888 1,291 12,179 ow from operating activities: 2021 £ 10,868 - - 20 10,888 2021 £ 12,179 12,179 |
2020 £ (866) |
|---|---|---|
| (866) 2,157 |
||
| 1,291 | ||
| 2020 £ (1,041) - - 175 |
||
| (866) | ||
| 2020 £ 1,291 |
||
| 1,291 |
Page 11
House of Wells Limited
Notes forming part of the financial statements for the Year Ended 30 June 2021
1. Statutory Information
The charity is a charitable company limited by guarantee and is incorporated in the United Kingdom. The Company's registered number and registered office address can be found on the Company Information page.
2. Accounting Policies
These financial statements are prepared on a going concern basis, under the historical cost convention
These financial statements have been prepared in accordance with the "Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) ("the Charities SORP"), with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland ("FRS 102"), with the Companies Act 2006 and with the Charities Act 2011. The charity meets the definition of a public benefit entity as set out in FRS 102.
The principles adopted in the preparation of the financial statements are set out below.
a). Going concern
The trustees (who are the charitable company 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.
b). Income
Income including investment income is recognised in the period in which the charity becomes entitled to receipt, the amount receivable can be measured with reasonable certainty, and receipt is probable. For the most part, income is generally recognised when it is received. Income is only deferred when the charity has to fulfil conditions before becoming entitled to it or where the donor has specified that the income is to be expended in a future period.
Income from donations and legacies includes:
i). Voluntary income is received by way of donations and gifts and is included in full in the Statement of Financial Activities when receivable.
ii). Recoverable gift aid. This is recognised when the related donation is received. Gift aid that has not been recovered by the balance sheet date is included as a debtor. iii). Goods donated for distribution to beneficiaries are recognised as income when receivable at fair value (being an estimate of the amount it would cost to purchase those items).
The charity relies on volunteers to carry out many of its activities, particularly the work with Children Feeding and Extral tutorial Class. However, in accordance with the SORP, the value of these services has not been included in these financial statements as they cannot be reliably measured.
Page 12
House of Wells Limited Notes forming part of the financial statements for the Year Ended 30 June 2021
When donated goods are distributed an expense in respect of those items is included in the Statement of Financial Activities. At the year end any goods that have not been distributed are recognised as stock.
Income from charitable activities represents income receivable from goods, services and facilities supplied in furtherance of the charity's charitable objects. It includes income from charity retreats and other events and courses.
The charity has taken the view that it has only one charitable activity, namely the advancement of the Christian faith and all income from donations, legacies and charitable activities is in respect of this one activity.
c). Expenditure
Expenditure, including irrecoverable VAT, is recognised when it is incurred or, if earlier, when a legal or constructive obligation for a payment arises provided that it is probable that settlement will be required and the amount of the obligation can be measured reliably.
The charity makes grants to other institutions and individuals to further its charitable objectives. Grants payable are recognised as constructive obligations arise, which is generally when the charity expresses a commitment to the recipient that can be measured reliably and then only to the extent that any conditions associated with the grant are outside of the control of the charity.
The Charities SORP requires charities with income over £500,000 to allocate costs to the various activities undertaken by the charity. The nature of the work of the charity is considered to be so integrated that the core ccharity activity costs are considered to be for the one activity.
Governance costs, which are included in expenditure on charitable activities but are identified separately in the notes to the accounts, includes costs associated with the independent examination of the financial statements, compliance with Constitutional and statutory requirements and any other expenditure incurred on the strategic management of the charity.
d). Fund Accounting
General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. Restricted funds are donations which are to be used in accordance with specific restrictions imposed by donors; they include donations received from appeals for specific activities or projects.
e). Tangible Fixed assets
There are no tangible fixed assets in this current financial year.
f). Stocks
Stocks of donated items held for distribution to beneficiaries are measured at fair value.
g). Pension Scheme arrangements
The charity operates defined contribution pension schemes for its employees. Obligations for contributions to these schemes are recognised as an expense when the liability arises. The assets of these schemes are held separately from those of the charity in independently administered funds.
Page 13
House of Wells Limited
Notes forming part of the financial statements for the Year Ended 30 June 2021
h). Taxation
As a charity, House of Wells Limited is exempt from tax on income and gains falling within Section 505 of the Taxes Act 1988 or s256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have risen in the Charity.
The company is a registered charity; it has taken advantage of the various reliefs from taxation available to charities and no tax is payable on the charity's income.
i). Critical accounting estimates and areas of judgement
The trustees do not consider that there are any material sources of estimation or uncertainty at the balance sheet date that could result in a material adjustment to the carrying values of assets and liabilities in the next reporting period
| 3. Donations | Unrestricted | Restricted | 2021 | 2020 |
|---|---|---|---|---|
| Total | Total | |||
| £ | £ | £ | £ | |
| Donations and Offerings | 52,653 | - | 52,653 | 36,947 |
| Christmas Appeal | 11,001 | 11,001 | 10,956 | |
| 63,654 | - | 63,654 | 47,903 | |
| 4. Investment Income | Unrestricted | Restricted | 2021 | 2020 |
| Total | Total | |||
| £ | £ | £ | £ | |
| Bank Interest | 1 | 1 | 1 | |
| 1 | - | 1 | 1 |
5. Costs of Generating Voluntary Income
| Ministry | Work pport Cost | Work pport Cost | Governance | 2021 | 2020 | |
|---|---|---|---|---|---|---|
| Basis of Al | £ | £ | £ | £ | £ | |
| Bank Charges | Direct | 361 | 361 | 446 | ||
| Administration | Direct | 408 | 408 | 400 | ||
| Support Costs | Direct | - | - | - | - | |
| Professional fees | Direct | - | 356 | 356 | - | |
| 769 | - | 356 | 1,125 | 846 |
Page 14
House of Wells Limited
Notes forming part of the financial statements for the Year Ended 30 June 2021
6. Charitable Activities
| Ministry Direct 49,787 49,787 49,787 - - 49,787 7. Governance Cost Professional Fees Direct - 1,875 1,875 - - 1,875 1,875 Total Resources 50,556 - 2,231 52,787 Expended 8. Net Incoming Resources for the Year This is stated after charging: 2021 £ Accountant's Remuneration 675 675 9. Analysis of staff costs, the cost of key management personnel and trustee remuneration and expenses 2021 £ Gross wages and salaries & bebnefits in kind 17,100 Social Security Pension Costs 17,100 |
49,787 | 49,787 | 47,424 |
|---|---|---|---|
| 49,787 - |
- 49,787 |
47,424 | |
| - | 1,875 1,875 |
675 | |
| - - |
1,875 1,875 |
675 | |
| 50,556 - |
2,231 52,787 |
48,945 | |
| 2020 £ 675 |
|||
| 675 | |||
| 2020 £ 16,200 |
|||
| 16,200 |
The average monthly number of employees during the year was 2 (2020: 2). Most of the charity's activities are carried out by volunteers.
No staff received salaries at a rate of more than £60,000 per annum.
Remuneration payable to key management amounted to £17,100 gross salaries (2020: £16,200) and nil pension contrbutions in the year (2020: nil). Key management is considered to cover senior Ministers directly employed by the charity.
No employement benefit were provided to any trustees during the year or previous year.
Page 15
House of Wells Limited
Notes forming part of the financial statements for the Year Ended 30 June 2021
| 10. Creditors: Amounts falling due within one year 2021 £ Accruals and Prepayments 775 HMRC PAYE 29 804 11. Net incoming resources for the year This is stated after charging: 2021 £ Accountancy Fees 1,875 1,875 12. Cash In Hand and at Bank 2021 £ HSBC Bank 12,179 12,179 13. Analysis of Net Assets Between Funds General Designated Restricted Funds Funds Funds £ £ £ Current Assets 12,179 - - Current Liabilities (804) - - Net Assets at 30th June 2021 11,375 - - 14. Movements in Funds At 1 Incoming Outgoing Transfers 2020 Resources Resources [Inc Gains] £ £ £ £ Unrestricted Funds: General Funds 507 63,655 (52,787) Total Funds 507 63,655 (52,787) - |
10. Creditors: Amounts falling due within one year 2021 £ Accruals and Prepayments 775 HMRC PAYE 29 804 11. Net incoming resources for the year This is stated after charging: 2021 £ Accountancy Fees 1,875 1,875 12. Cash In Hand and at Bank 2021 £ HSBC Bank 12,179 12,179 13. Analysis of Net Assets Between Funds General Designated Restricted Funds Funds Funds £ £ £ Current Assets 12,179 - - Current Liabilities (804) - - Net Assets at 30th June 2021 11,375 - - 14. Movements in Funds At 1 Incoming Outgoing Transfers 2020 Resources Resources [Inc Gains] £ £ £ £ Unrestricted Funds: General Funds 507 63,655 (52,787) Total Funds 507 63,655 (52,787) - |
ne year 2021 £ 775 29 804 2021 £ 1,875 1,875 2021 £ 12,179 12,179 General Designated Restricted Funds Funds Funds £ £ £ 12,179 - - (804) - - |
2020 £ 775 9 784 2020 £ 675 675 2020 £ 1,291 1,291 Total Funds £ 12,179 (804) 11,375 At 30 Jun 2021 £ 11,375 11,375 |
|---|---|---|---|
| 11,375 - - |
|||
| 507 63,655 (52,787) - |
15. Transactions with related parties
During the previous and current year under review, the charity had no related parties transactions.
Page 16
House of Wells Limited
Income and Expenditure Account for the Year Ended 30 June 2021
| Income LESS OVERHEADS Bank Charges Bank Charges Administration Printing, Postage and Stationery Telephone and Internet Web Charges Ministry Mission House Rent Missionary Salaries Allowance For Support Teachers Events & Conferences Missions Outreach Love Gift & Welfare Mobile Phone School Uniform Children Feeding Professional Fees Audit & Accountancy Fees Professional fee Total Expenses Surplus/(Deficit) for the year Surplus Brought Forward Surplus Carried Forward |
2021 £ 63,655 361 361 278 - 130 408 5,448 17,100 9,191 6,523 1,487 550 297 1,482 7,709 49,787 1,875 356 2,231 (52,787) 10,868 507 11,375 |
2020 £ 47,904 446 |
|---|---|---|
| 446 270 - 130 |
||
| 400 4,434 16,200 9,163 6,502 1,666 - 296 1,478 7,685 |
||
| 47,424 675 - |
||
| 675 (48,945) |
||
| (1041) 1,548 |
||
| 507 |
This page does not form part of the statutory accounts.
Page 17