| FINANCIAL STATEMENTSFORTHE YEAR ENDED31,AUGUST2021 | |
|---|---|
| CharityRegis ationnumber-1133940 | |
| TABLEOFCONTENTS | |
| PA6E | |
| TrusteesReport | ltoo |
| Auditor'sReport | Ttog |
| StatementofFinancialActivities | 10 |
| BalanceSheet | 11 |
| l!otes to theFinancialStatements | 12lo22 |
| Note | Unrestricted | Total | 2020 | |
|---|---|---|---|---|
| INCOMINGRESOURCES | ||||
| Donation andLegacies | 3.1 | 17,000 | 77,O00, | 17,000 |
| Charitable Activities | 3.2 | 727,O20 | 727,020 | 149,89s |
| lnvestment income | 3.3 | 745,241 | L45,247 | 130,706 |
| Other lncome | 3.5 | 19,288 | L9,288 | 3,O42 |
| TOTALINCOMINGRESOURCES | 308,549 | 308,549 | 300,643 | |
| RESOURCESEXPENDED | ||||
| Expenditure onRaising Funds | 4.7 | 8,23A | 43,238 | 43,347 |
| ExpenditureonCharitable Activities | 4.2.3 | 725,368 | 225,368 | 224,989 |
| Others | 4.3 | 275 | 275 | 7,322 |
| TOTATRESOURCESUSED | 268,881 | 264,487 | 269.6s8 | |
| NetlncomeBefore investmentGains | 39,668 | 39,668 | 30,985 | |
| NETGAINSONINVESTMENTS | 1,013 | 1013 | -99 | |
| NETINCOME/(EXPENDITURE) | 40,581 | 40,681 | 30,886 | |
| RECOGNISED GAINS | ||||
| Gainson revaluation of fixedassets | ||||
| fortheCircuit'sownuse. | 6 | 76r,449 | 167,449 | 0 |
| Gainson revaluationofFixed | 7 | 154,591 | 154,591 | 0 |
| assetsinvestment | ||||
| NETGAINSBEFOREPRIORYEARADJUSTMENT | 356,721 | 356,721 | 30,886 | |
| PRIOR YEARADJUSTMENT | 394,521 | 394.521 | I | |
| TOTALNETINCOMEFORTHE YEAR | 75L,742 | 757,242 | 30,886 | |
| BALANCEBROUGHTFORWARD | 4,777,896 | 4,717,896 | 4,087,010 | |
| BALANCECARRIEDFORWARD | 4,869,L38 | 4,86911384,LL7,896 |
| Note | e | |||
|---|---|---|---|---|
| FIXEDASSETS | 2020 | |||
| unrestrictod | Tolal | |||
| TangibleAssets lnveslrnents |
9.1 9.2 |
2,205,035 2,491,061 |
2,205,035 2,491,061 |
1,402,911 2.145.829 |
| TolalFlx€dAssets | 4,696,096 | 4,696,096 | 3,948,74 | |
| CURRENTASSETS | ||||
| lnvestments | 10 | 104,475 | 104.475 | 104,166 |
| Deblo,s Bank and cash balances |
11 12 |
21,OO4 4& |
2'1,004 11,87.2 |
27,764 58,681 |
| 197,351 | r97,351 | 190,61r | ||
| CREDITORS:lrrnountsfalling | ||||
| duswithlnonsyear | 13 | 13t2A | 13.'t2E | 10,289 |
| TOTALNET CURRENTASSETS | 18/.,Zt3 | 19/.223 | 1ao,?22 | |
| TOTALASSETS LESSCURRENT | ||||
| LIABILITIES | 4.880,310 | 4,880,319 | 4,129,62 | |
| CREDITORS:Amountsfalling | ||||
| duealterongyear | 134 | 11.18'l | 1'r.181 | rt,roo |
| TOTALASSETS | 4.E69.138 | 4.869.138 | 4.1t7.896 | |
| FUNDS | ||||
| Unrestricted Funds | 14.1 | 4.869.138 | 4.869.138 | 4,t17,896 |
| TOTALFUNDS | 4869138 | 4869138 | 4117,896 |
|CHEISEA,|.|AMM€RSMITH and FUTHAMMETXODISTORCUIT|CHEISEA,|.|AMM€RSMITH and FUTHAMMETXODISTORCUIT|CHEISEA,|.|AMM€RSMITH and FUTHAMMETXODISTORCUIT||||
|---|---|---|---|---|---|
|STATEMTT{TOFFINANCIATACT'VITIESFORTHEYEARENDED31,AUGUST
3INCOMINGRESOUR€ES|||2021
20||0|
||Unresricted|TOTAL|Unrestricted||Total|
||Funds|Fund||Funds|Funds|
|||2021|||2020|
|||ft|||I|
|3,1 Donations andLegacies||||||
|Nigerian FellowshipDonatior|17.000|17.000||17.000|17000|
|3.2Charitable Activities income||||||
|Circuitassessments|127,O20|121,O20||149,895|149,895|
|3.3lnvggtmentincome||||||
|Central Finance Boardlnteresi|14|14||88|88|
|TMCP lnterest||432|||955|
|Rental lncome|144,795|144,79s||129.663|129,663|
||'t1s,u1|115241||130,706|130,706|
|3.5Other lncome||||||
|LondonDist.iciCovid -19 Grant|5,188|5,'188||||
|lnsuranceClaim|2,600|2,600||||
|Job Retention SchemeGrant|11,500|11,500||
3,U2|3,042|
||r9,28E|t9,2EE||
3,(N2|_3{!3|
|4RESOURCES EXPENDED||||||
||Unrestricted|Total|Unrestricted||Total|
||Funds|Funds||Funds|Funds|
|.I.IEXPENDITURE ONRAISINGFUNDS|,|EE||||
|Properties Repairs and Maintenaoce|20,234|20,2U||22,765|22,765|
|Propertylnsurance|5,335|5,335||995|99s|
|Prgperties Running Costs||-||720|'t20|
|Rent Collection|17,669|17,669||18,867|18,867|
||$,23A|43,238||13,U7|13,347|
|4.2 EXPENOITURE ONCHARITABLE ACTIVITIES||||||
|4.2.1DIRECTSPENDING||||||
|District Assetsmeot|27,924|21,924||22,084|22,084|
|Stlpends. Pension andNIC|110,455|110,465|138,550||138,660|
|SalariesaodNIC|14,O24|74,014||14,025|14,025|
|employersPensioncontributions|760|760|||731|
|Ministers' travellingexpenses|2.983|2.983||6,129|9J29|
||150.156|'150.156|181.629||181.629|
|4.2.2SUPPORTFOR CHARITABLE||||||
|ACTIVITIES||||||
|4.2.2.1PremisesErponses||||||
|RepairstoManses|82,837|82,831||72,140|12,140|
|Manse RunningCosts|13,857|13,867||14.034|74,034|
|Manse5lnsurance|6,92s|6,925||8,119|8,119|
|Ouinquennial inspectionscosts|1.200|1.200||1.620|1.620|
||104.823|104.823||35.913||
|4.2.22Govemancecosts||||||
|AuditFees|2,400|2,400||2,400|2400|
|AccounlancyFees|1,200|7,200||1,200|1,200|
|TMCP Charges|208|208||209|209|
|Legal Fees|1,-!!!!|2.100||1.271|1,271|
|||5,908||5.080|5.080|
| CHE]SCA,IIAMMERSMITH | rnd | FUIHAMMEIHODIST | ORCtII | ||||||
|---|---|---|---|---|---|---|---|---|---|
| STATEMEiaTOFF | NAI{OALACTI,mESFORTHEYEAREDED | 31,AUGUST2021 | |||||||
| (continued) | 202 | 0 | |||||||
| Unrestricted | TotdlUnreslricted | Total | |||||||
| Funds | Funds | Funds | Funds | ||||||
| f | ee | e | |||||||
| 4.2.2.3 | Others | ||||||||
| DAFContribution | 834 | 834 | 849 | 849 | |||||
| ApprenticeshipLevy OfflceRunningCosts |
442 0 |
442 0 |
481 1,037 |
rl81 1,037 |
|||||
| Depreciation Provision no longerrequired. | -36,795 -35.519 |
-36.795 g -35_5192.fi7 |
: 2.367 |
||||||
| 4.2.3 | SU['['ARYOF EXPENDITURE ONCHARITABLEACTIVITIES | ||||||||
| Direct Spending | 150,156 | '150,156 | 181,629 | 181,629 | |||||
| Supportfor charitble activites | |||||||||
| Premlses Expenses | 104,823 | 104,829 | 3s,913 | 35,913 | |||||
| Governance | 5,908 | 5,908 | s,080 | s,080 | |||||
| Others | -35.519 | 2.367 | 2.387 | ||||||
| 225.368 | 225.368 | 224.989 | 224.*9 | ||||||
| /1.3 OTHER | |||||||||
| Sundry Expenses | 275 | r322 | 1.322. | ||||||
| s REVAI.UAT | ONGA | N/(DEFTOT)ON INVEITMENTS | |||||||
| 2,O27 | 2020 | ||||||||
| 1165Units@560.30pence{3UO8/2O2Ll | 6s33 | ||||||||
| 1156 Unlts@473.40pence each(3U08/2020) | 5,520 | ||||||||
| 1166Units@560.3pence(3V08l2020 | -5.520 | ||||||||
| 1156 units@481.9perce(3Oel2O79') | -5.519 | ||||||||
| Revaluatlon6ain/(Dellcit, | 1.013 | g | |||||||
| 6.GAINS | ON REVATUATION OFFIXED ASSETS FORTHE | CIRCUIT'SOWNUSE | |||||||
| 2027 | 2020 | ||||||||
| Revaluationgainsonproperties | L5,..49 | s | |||||||
| 7. GAINS | ONREVALUATION OFFIXED ASsETSINVESTMENTS | ||||||||
| Revaluation gainson properties | 154,591 | ||||||||
| 8.PRIOR.YEARADJUSTMENT | |||||||||
| Revaluationga;nsonproperties | |||||||||
| Tangible Fixed Assets | 203,880 | 0 | |||||||
| FixedAssetslnvestments | 190.641 | s | |||||||
| 394,521 | I | ||||||||
| Theprior | yearadjustment representspropenyrevaluatlongainspriorto1stSepte | mber 2020. | page | 77 |
| CHEISEA,HAMMERSMITH andFULHAM METH NOTESTO THEFINANCIAI. STATEMENTSFORTHE YEAR 9.FIXEDASSETS |
ODISTCIRCUIT ENDED31, AUGUST2021 (continued) |
|---|---|
| 9.1TANGIBTEFIXED ASSETS | |
| COSTORVATUATION | |
| FREEHOLDLAND ANDBUITDIN65 | |
| Manses | |
| Balanceasal1September 2020 | 1,839,706 |
| RevaluationSurplus | 76t,449 |
| Prior YearAdjustment | 203.880 |
| Balanceasat 31,August2021 | 2.205,435 |
| DEPRECIATION | |
| Asat1September2020 | 36,795 |
| Depreciation No Longer Required | |
| Balanceat 31,August2021 | s |
| NET BOOK VALUE | |
| Asat31August2021 | 2.205.035 |
| Asal31August 2020 | I.802.911 |
| 9.2FIXEDASSETS INVESTMENT | |
| COSTORVALUATION | |
| FREEHOLDLAND AND BUILDINGS | |
| Balance asat1September2020 | 2,145,829 |
| RevaluationSurplus | 154,591 |
| Prior YearAdiustment | 190,641 |
| Balanceasat3'1,August2021 | 2.491,061 |
| DEPRECIATION | |
| Asat1September 2020 | 0 |
| Balance at31,August2021 | I |
| NET BOOK VALUE | |
| Asat3'1,August2021 | 2,49t.061 |
| Asat31,August2020 | 2.145,A29 |
| 10.1Thefollowing fundsareheld on behalfofthe | Circuitby TM | CP | ||
|---|---|---|---|---|
| 2 02 | 0 | |||
| Unrestricted | Total | Unrest.icted | Total | |
| Ftust2L747-Model TrustCapital62,158 | 62,158 | 62,073 | 62,O73 | |
| Trust16544-SaleofHouse 2,317 |
2,317 | 2.317 | 2,311 | |
| Trust19598-CircuitAdvanceFunr32,546 | 32546 | 33,336 | 33,336 | |
| TrJsr566tganBequest 6,5JJ Trust15780-B GAllenBequest Ul |
6533 921 |
5,520 920 |
5,520 920 |
|
| LO4475 | t04479. | 104,166 | 104.166 |
| 10.2INCOME FROM MATERIAL INVESTMENT H | OLDINGS | |
|---|---|---|
| Market | lncomefor | |
| valueat | the year. | |
| 3!/t2/2O21 | ||
| lnvestmentProperty | 2,497,061- | 144,795 |
| lnvestmentswithTMCP | LOA,47 | 432 |
| ' | ||
| TOTAL | 2,595,536 | !4s-u" |
| 11.DEBTORS | 2021, | 2420 |
| Rent Debtor | t32 | r,532 |
| FundsheldbytheEstateAgent | 3,600 | 1,500 |
| OtherDebtors | Jl21_Z | |
| 21.004 | uf_g! |
| 12.BANKANDCASH BALANCES | 2,O21 | 2,020 |
|---|---|---|
| CurrentAccount | 52,591, | 40,365 |
| CentralFinanceBoardDeposit | 1,9.281, | 18,316 |
| 71.872 | 58,681 |
| NOTESTOTHEFINANCIAT STATEMEITITSFORTHE Y | EARENDfD31, | AUGUST2021 | |
|---|---|---|---|
| (continued) | |||
| 13.CREDITORS:Amountsfallingduewithinoneyear | 2021- | 7020 | |
| Rent ReceivedinAdvance | 6,266 | 6,266 | |
| OtherCreditors | 2,962 | 423 | |
| Accruals | 3,900 | 3.600 | |
| 13r.28 | 10289 | ||
| 13A.CREDITORS:Amountsfallingdueafteroneyear | 2020 | 2020 | |
| Rent Deposit | 11,181 | 11,166 |
| STRICTEDFUNDS | ||
|---|---|---|
| 2020 | ||
| BalanceBroughtForward | 4,1.11,896 | 4,087,010 |
| lncomingResources | 308,549 | 300,643 |
| ResourcesExpended | -258,881 | -269,658 |
| NetGain/(deficit)on lnvestments | 1,013 | -99 |
| RevaluationGains | 316,040 | 0 |
| Prior year Ad.justment | 394,521 | I |
| BalanceCarriedForward | 4,859,138 | 4L17896 |
| 15 | purposes. DETAILS OF CERTAIN ITEMS OF EXPENDITURE |
||
|---|---|---|---|
| 2021 | 2020 | ||
| AuditFees | 2,400 | 2,400 | |
| Accountancy charges | 1.240 | 1,200 | |
| 3600 | 3600 | ||
| 16 | PAID EMPLOYEES | ||
| Salaries andWages | 14,024 | 14,025 | |
| Naiional lnsuranceandPensionContribuions | 760 | 731 | |
| 14.784 | 14,756 | ||
| Numbe!' ofemployees | 1 | 1 |
| Notrusteereceivedanyremunerationnor benefits | Notrusteereceivedanyremunerationnor benefits | Notrusteereceivedanyremunerationnor benefits | |
|---|---|---|---|
| TRANSACTIONWITHRELATEDPARTIES | |||
| NAME | REIATIONSHIPDESCRIPTIONBalanceatperiodend | ||
| TOTHE | OF AMOUNTS |
||
| CHARITY | TRANSACTION | ||
| MarkDavenport AyodejiOkegbile LeSingaVunipola GuyAustin-Bride |
Trustee Trustee Trustee Trustee |
Stipend f37,794 Stipend 34,890 Stipend 34,890 Stipend 2,892 |
Nil Nil Nil Nil |
| MarkDavenport AyodejiOkegbile LesingaVunipola |
Trustee Trustee Trustee |
Expenses1,059 Expenses700 Expenses7,224 |
Nil Nil Nil |
| 2021 | 2020 | ||
| Average NumberofMinisters receiving | |||
| Stipends | 34 | ||
| Allowances | 34 |