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2024-03-31-accounts

Maximum Impact Christian Centre aka MICC Chapel of Light

REPORT AND FINANCIAL STATEMENTS For the year ended 31 March 2024

Charity Number 1134921

Maximum Impact Christian Centre aka MICC Chapel of Light

TRUSTEES ANNUAL REPORT For year ended 31 March 2024

This year has been a season of blessings and growth for MICC. Our mission to glorify God through worship, outreach, and service has touched lives within our communities and beyond. Guided by faith and supported by our congregation, we have embraced new opportunities to share Christ’s love and a holistic gospel.

The trustees are pleased to present their annual report together with the financial statements of the charity for the period ended 31 March 2024

The financial statements comply with the Charities Act 2011, the Memorandum and Articles of Association, and 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 2015)

Leadership Academy

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1. Chair’s Report -Rev Dr Peter Adegbie
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The report shows you in detail what, where our funding has come from, and our impact over the last year. In our annual report, you will find all the facts and figures as well as stories of what God has been doing.

Within The MICC, the Pastors and Trustees are responsible for the overall direction and governance. However, as the church has grown, we have entrusted other individuals of gifting

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Maximum Impact Christian Centre aka MICC Chapel of Light

TRUSTEES ANNUAL REPORT For year ended 31 March 2024

and character with responsibilities in line with their talents and experience, and thus now have a C-Suite of three senior groups that work together to give depth, focus and dynamism to the many areas of a holistic church life and Heritage

We believe in recognising both the gift of leadership in individuals, and the value of relational teams as avenues through which Jesus builds His church. We are heavily committed to ensuring that people get the best care and help we can give them as part of our vision of loving one another excellently and of resourcing and stimulating deep personal transformation. To facilitate this, assisting Dr Peter Adegbie the Founding Pastor, on a day-to-day basis we have the co-Founding Pastor Theodora who works as our Pastoral co-ordinator, Chief Operating Officer and In-house Counsel.

To keep the church motor running smoothly, we also have Pastors T Okpara, J Mbanu, Benoit Musi and a dynamic Steering Committee comprising 10 professionals from diverse industries.

As Trustees of MICC, we firmly believe that following Christ changes lives for the better. However, we accept the right of individuals to have, and to express, differing beliefs or no belief. A central part of the Christian faith is the desire to see justice for all, regardless of age, race, gender, class or religion.

We pledged to follow the Charity Governance Code and assess our governance practises to see how we measured up against the Code. We shall continue to improve the diversity of MICC trustees through the replacement of appointed trustees when existing terms of office come to an end.

The Year 2023-2024 has been a remarkable year of spiritual and community impact for MICC. From increasing attendance at services to launching impactful outreach programmes, and we are excited.

2. Objectives and Activities

The objects are:

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Maximum Impact Christian Centre aka MICC Chapel of Light TRUSTEES ANNUAL REPORT For year ended 31 March 2024

The trustees must use the income and may use the capital of the church in promoting the objects.

MICC Chapel of Light exists to raise Christians who will be agents of change in the community; we support through study and fellowship, the members of the church, teaching the doctrines of the Christian faith. We conduct regular worship services, teaching seminars and prayer conferences. We also provide ministerial services to parishioners in the UK and through our website to the world.

The ministerial services include wedding ceremonies, children dedication and water baptismal services; in addition, we offer counselling services especially to people in courtship and married couples.

3.Achievements and Performance in 2023-2024

a. Worship and Spiritual Growth:

b. Community Outreach:

c . Youth and Family Ministry:

We passionately believe that investing in young people is critical both for today and for our future. We have created the young adult group- The Sensational Singles and the

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Maximum Impact Christian Centre aka MICC Chapel of Light TRUSTEES ANNUAL REPORT For year ended 31 March 2024

Maximum Impact Students Association. As a result of this work, we are delighted to see more young people giving their lives to Jesus, finding their place in church communities, excelling in leadership roles as Market place Christians and sharing their faith in Jesus with others

d. Global Mission:

e. More:

4 . Partnerships:

We are an independent Christian church with strong relational links with other leaders and churches. We also enjoy fruitful collaboration with the other churches in Sunderland and Newcastle upon Tyne. We are members of Churches Together and members of the Evangelical Alliance of Great Britain and Ireland.

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Maximum Impact Christian Centre aka MICC Chapel of Light TRUSTEES ANNUAL REPORT For year ended 31 March 2024

5. Reference and administrative details of the charity, its trustees and advisors

Charity Name Maximum Impact Christian Centre (MICC) Maximum Impact Christian Centre (MICC)
aka MICC Chapel of Light
Registered Charity
Number 1134921
Operational address Chapel of Light
Cornhill Road, Southwick
Sunderland
SR5 1RU
Trustees Revd Dr Peter Adegbie CEO/Senior Pastor
Revd Dr John Ameobi Trustee
Mrs Theodora Adegbie ExecPastor/GeneralCounsel
Mr Justin Mbanu Trustee
Mr Tochukwa Okpara Trustee
Pastor Ian Meldrum Trustee
Mr Benoit Musi Trustee
Independent Michelle Wright
Examiner MW Accounting Service
Woodgate House
5c Wood Street
Gateshead
NE11 9NP
Bankers
Barclays Bank Plc
Northumberland Street
Newcastle upon Tyne
NE1 7AF
HSBC Plc
110 Grey Street, Newcastle upon Tyne

5

Maximum Impact Christian Centre aka MICC Chapel of Light TRUSTEES ANNUAL REPORT For year ended 31 March 2024

6. Structure, Governance and Management

Governing documents

Maximum Impact Christian Centre a.k.a Chapel of Light has been registered as a charitable organisation since 15 March 2010, number 1134921.

Appointment of Trustees

Trustees are appointed and can serve more than one term.

Religious leaders and trusteeship :

The responsibility and authority for spiritual leadership rests with the recognised spiritual leaders within the church.

Religious leader trustees have the same level of involvement and participation in decision making as all the other trustees. All decisions concerning the charity are taken by the trustees acting together. The trustees, however, must look to those trustees with spiritual authority for guidance on spiritual matters and bear in mind the spiritual direction of the church and the views of the spiritual leaders.

Volunteers

Volunteers have been a very major part of our charity. They are given platforms which enable them to discover their own potentials, develop social skills while at the same time giving reality to our public benefits objectives.

Organisation

The Trustees meet as scheduled and deal with the administration of the charity encompassing the strategic vision, financial accountability and risk management.

The pastoral, ecclesiastical and operational management of the organisation are undertaken by the paid staff team.

Risk management

The trustees have examined the major strategic, business and operational risks which the charity faces and confirm that systems have been established to enable regular reports to be produced so that the necessary steps can be taken to lessen these risks.

7. Financial Review

The Trustees are passionate about sustainability. We continue to monitor all sources of income, invest in identifying and developing new sources of income as well as monitoring

6

Maximum Impact Christian Centre aka MICC Chapel of Light TRUSTEES ANNUAL REPORT For year ended 31 March 2024

costs, to ensure we continue to be financially sustainable for the foreseeable future

Through the generosity of our congregation and supporters, we raised £129,125 this year.

Key income sources included:

Our expenditure focused on worship, outreach, and maintaining our facilities:

We ended the year with reserves of £96,009, ensuring financial stability for the future.

Reserves policy

It is the policy of the charity to maintain unrestricted funds, which are the free reserves of the charity, at an appropriate level to ensure that management and administrative expenditure can be met. From time to time the trustees may decide to designate reserves to building renovation. The trustees review both its policies and its reserves position on a regular basis.

Salaries:

We believe in rewarding staff fairly for the jobs that they do and fostering a positive working environment, although our present salaries and terms and conditions do not yet reflect this due to limited cashflow and on- going development of our Heritage building.

8. Public Benefit Statement

The trustees have also reviewed the charitable purposes of MICC, and the external environment, to make sure the Charity is still relevant and needed. This annual report will aim to demonstrate the link between our charitable activity and how this benefits our service users and the community at large.

The Trustees confirm they have referred to the Charity Commission’s general guidance on public benefit when reviewing the charity’s aims and objectives and when planning future activities. We believe the Christian faith we profess – and which underpins everything we do –

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Maximum Impact Christian Centre aka MICC Chapel of Light

TRUSTEES ANNUAL REPORT For year ended 31 March 2024

is for the common good of every member of society. We therefore believe that MICC fulfils the public benefit test required of charities. We are an outward looking organisation: we are committed to the positive and joyful transformation of all people in society. We therefore strive to make sure the benefits we work for are not exclusive to our members but holistic and all embracing.

9. Statement of Trustee Responsibilities

The charity trustees are responsible for preparing a trustees’ annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The board of trustees would like to place on record its thanks to, and appreciation of, the chief executive/ Founding Pastor, his Executive Pastor/ General Counsel doing the job of several people and the whole of MICC Volunteers for the skill and energy with which they have managed and contributed to the organisation.

The charity trustees are required to prepare financial statements for each year which give a true and fair view of the state of affairs of the charitable company and of incoming resources and application of resources. In preparing financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity. They 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.

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Maximum Impact Christian Centre aka MICC Chapel of Light

TRUSTEES ANNUAL REPORT For year ended 31 March 2024

Looking Ahead

As we commence the year 2024-2025, we are prayerfully planning to:

Approved by the Trustees on 15 January 2025 and signed on their behalf by:

Revd Dr Peter Adegbie

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MAXIMUM IMPACT CHRISTIAN CENTRE

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES

For the year ended 31 March 2024

I report on the financial statements of Maximum Impact Christian Centre for the year ended 31 March 2024, which are set out on pages 11 to 21.

Respective responsibilities of trustees and examiner

The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 ("the Charities 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:

Basis of independent examiner's statement

My examination was carried out in accordance with 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 the trustees concerning any such matters. The procedures undertaken 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 material matters have come to my attention which gives me cause to believe that in, any material respect:

I 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.

Michelle Wright MW Accounting, Bookkeeping & Training Woodgate House Wood Street Gateshead NE11 9NP Date: 31/01/25

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MAXIMUM IMPACT CHRISTIAN CENTRE

STATEMENT OF FINANCIAL ACTIVITIES

For the year ended 31 March 2024

6
7
8
Expenditure on:
8
Operation of the charity
Total expenditure
Net income/(expenditure) and net
movement of funds
Charitable activities
Total funds carried forward
Reconciliation of funds
Total funds brought forward
Total income
Donations and legacies
Income from:
Investments
Charitable activities
Grants and contracts
Notes		 Unrestricted
Funds
£
165,261
7,352
-
172,613
166,766
166,766
5,848
86,080
91,928		 Restricted
Funds
£
-
10,000
-
10,000
10,000
10,000
-
4,081
4,081		 Total
2024
£
165,261
17,352
-
182,613
176,766
176,766
5,848
90,161
96,009		 Total
2023
£
117,553
58,493
-
176,045
195,381
195,381
( 19,336 )
109,497
90,161

The Statement of Financial Activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities

The notes on pages 13 to 21 form an integral part of these accounts.

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Charity Number 1134921

MAXIMUM IMPACT CHRISTIAN CENTRE

BALANCE SHEET

As at 31 March 2024

Total
2024
£
£
Fixed assets
Tangible assets
15
94,236
Total fixed assets
94,236
Current assets
Debtors
16
10,646
Cash at bank and in hand
17
18,192
Total current assets
28,838
Creditors:amounts falling due within
one year
18
( 3,280 )
Net current assets
25,558
Total assets less current liabilities
119,794
Creditors:amounts falling due after
more than one year
19
( 23,785 )
Total net assets or liabilities
96,009
Funds of the charity
Unrestricted income funds
55,181
Restricted income funds
4,081
Revaluation reserve funds
36,747
Total funds
96,009
and are signed on its behalf by:
These financial statements were approved by the Board on:
Trustee
Notes
The notes on pages 13 to 21 form an integral part of these accounts.
Reverend Dr Peter Adegbie		 Total
2024
£		 £
10,646
17,916
28,562
( 11,274 )
( 23,785 )
31/01/25		 Total
2023
£
94,236 96,658
94,236
25,558		 96,658
17,288
119,794 113,946
96,009 90,161
55,181
4,081
36,747		 44,423
4,081
41,657
96,009 90,161
Peter Adegbie(Jan 31,2025 18:35 GMT)
Peter Adegbie

12

MAXIMUM IMPACT CHRISTIAN CENTRE

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 March 2024

1 Accounting Policies

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

2 Basis of accounting

2.1 Basis of preparation

These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.

The accounts have been prepared in accordance with 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) – Charities SORP (FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

Maximum Impact Christian Centre meets the definition of a public benefit entity under FRS 102.

2.2 Preparation of the accounts on a going concern basis

The charity reported total unrestricted funds at the year-end of £64,757 and has already secured a significant amount of funding for the current year. The financial statements have been prepared on a going concern basis. In making their assessment the trustees have reviewed and considered relevant information, including their annual budget and future cash flows. In response to the COVID-19 pandemic, the trustees have revised their forecasts to take into account measures that they can take with the current resources available to mitigate the impact of the current adverse conditions. The trustees are of the view that the immediate future of the charity for the next 12 months is secure and that on this basis the charity is a going concern.

3 Income

3.1 Recognition of income

Income is recognised when the charity has entitlement to the resources, any performance conditions attached to the item(s) of income have been met, it is more likely than not that the resources will be received and the monetary value can be measured with sufficient reliability

3.2 Offsetting

There has been no offsetting of assets and liabilities, or income and expenses, unless required or permitted by FRS102 SORP or FRS102.

3.3 Grants and donations

Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

Income received in advance of the provision of a specified service is deferred until the criteria of income recognition are met.

13

MAXIMUM IMPACT CHRISTIAN CENTRE

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 March 2024

3.4 Donated goods and services

Donated goods are measured at fair value (the amount for which the asset could be exchanged) unless impractical to do so.

Donated services and facilities are included in the SoFA when received at the value of the gift to the charity provided that the value of the gift can be measured reliably. Donated services and facilities that are consumed immediately are recognised as income with the equivalent amount recognised as an expense under the appropriate heading in the SoFA.

3.5 Volunteer help

The value of volunteer help received is not included in the accounts but is described in the trustees' annual report.

3.6 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

3.7 Income from membership subscriptions

Membership subscriptions received in the nature of a gift are recognised in donations and legacies.

Membership subscriptions which gives a member the right to buy services or other benefits are recognised as income earned from the provision of goods and services as income from charitable activities.

3.8 Investment gains and losses

This includes any realised or unrealised gains or losses on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year.

3.9 Fund accounting

Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity's work or for specific projects being undertaken by the charity.

4 Expenditure and liabilities

4.1 Liability recognition

Liabilities are recognised when it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty.

14

MAXIMUM IMPACT CHRISTIAN CENTRE

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 March 2024

4.2 Charitable activities

Expenditure on charitable activities includes the costs of outreach work and other activities undertaken to further the purposes of the charity and their associated support costs.

4.3 Governance and support costs

Support costs have been allocated between governance cost and other support. Governance costs comprise all costs involving public accountability of the charity and its compliance with regulation and good practice.

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources.

4.4 Irrecoverable VAT

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

4.5 Creditors

The charity has creditors which are measured at settlement amounts less any trade discounts.

4.6 Provisions for liabilities

A liability is measured on recognition at its historical cost and then subsequently measured at the best estimate of the amount required to settle the obligation at the reporting date.

5 Assets

5.1 Tangible fixed assets for use by the charity

Depreciation is calculated so as to write off the cost of a fixed asset, less its estimated residual value, over the useful economic life of that asset as follows:

Land and buildings Property is maintained to such a standard that, in the opinion of the trustees, its estimated value is not less than its cost. No depreciation is charged as it is not material. Fixtures, fittings and equipment 18% per annum on a reducing balance basis Motor vehicles 18% per annum on a reducing balance basis

15

MAXIMUM IMPACT CHRISTIAN CENTRE

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 March 2024

Analysis of income
6
Donations and legacies
7
Charitable activities
Income from grants
Grants
Other income
Church offerings and tithes
Gift aid
Donations		 Unrestricted
Funds
£
129,125
17,331
18,806
165,261
2,352
5,000
7,352		 Restricted
Funds
£
-
-
-
-
10,000
-
10,000		 Total
2024
£
129,125
17,331
18,806
165,261
12,352
5,000
17,352		 Total
2023
£
94,421
11,824
11,308
117,553
44,866
13,626
58,493

Income was £182,613 (2023: £176,045) of which £172,613 was unrestricted or designated (2023: £176,045) and £10,000 was restricted (2023: £0)

16

MAXIMUM IMPACT CHRISTIAN CENTRE

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 March 2024

Analysis of expenditure on charitable activities

8 Charitable activities
Direct costs
Support costs
Governance costs
Office costs
Support staff other costs
Outreach work and local projects
Bank charges
Independent examiner's fees for reporting on
the accounts
Project costs
Repairs and renewals
Professional fees
Staff costs
Church running and establishment expenses
Depreciation		 Unrestricted
Funds
£
81,749
33,198
2,423
20,230
1,607
1,252
-
86
25,777
145
300
166,766		 Restricted
Funds
£
-
-
-
-
-
-
-
-
7,560
2,440
-
10,000		 Total
2024
£
81,749
33,198
2,423
20,230
1,607
1,252
-
86
33,337
2,585
300
176,766		 Total
2023
£
78,455
38,371
1,650
14,386
1,533
1,255
3,421
52
52,034
3,926
300
195,381

Expenditure on charitable activities was £176,766 (2023: £195,381) of which £166,766 was unrestricted or designated (2023: £157,578) and £10,000 was restricted (2023: £37,803)

9 Fees for examination of the accounts

Independent examiner's fees for reporting on the accounts

2024
£
300
300		 2023
£
300
300

10 Analysis of staff costs and the cost of key management personnel

Salaries and wages
Social security costs
Pension costs		 2024
£
68,349
7,438
5,961
81,749		 2023
£
65,492
7,880
5,082
78,455

No employee received remuneration above £60,000

The key management personnel of the charity, comprise the trustees and the Senior Pastor. The total employee benefits of the key management personnel of the charity were £42,069.

17

MAXIMUM IMPACT CHRISTIAN CENTRE

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 March 2024

11 Staff numbers

The average monthly head count was 2 staff (2023: 2 staff) and the average monthly number of full-time equivalent employees during the year were as follows:

The parts of the charity in which the employee's work
Pastors and ministers		 2024
Number
2.0
2.0		 2023
Number
2.0
2.0

12 Transactions with trustees

None of the trustees have been paid any remuneration or received any other benefits from an employment with their charity or a related entity.

Trustees' expenses

No trustee expenses have been incurred in the year.

Transaction(s) with related parties

There have been no related party transactions in the reporting period.

13 Defined contribution pension scheme

The charity operates a defined contribution pension scheme.The assets of the scheme are held separately from those of the charity in an independently administered fund.

The employer's pension costs represent contributions payable by the charity to the fund and amount to £5,961 (2023: £5,082). There was £1,245 outstanding as at 31 March 2024 (2023: £1,245)

14 Corporation Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objectives.

18

MAXIMUM IMPACT CHRISTIAN CENTRE

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 March 2024

Freehold
Property
15 Tangible fixed assets
Improvements
£
Cost
Balance brought forward
14,143
Additions
-
Disposals
-
Revaluations
-
Balance carried forward
14,143
Depreciation
Basis
SL
Rate
5%
Balance brought forward
-
Depreciation charge for year
-
Disposals
-
Balance carried forward
-
Net book value
Brought forward
14,143
Carried forward
14,143		 Freehold
land and
building
£
75,000
-
-
-
75,000
-
-
-
-
75,000
75,000		 Motor
vehicles
£
12,763
-
-
-
12,763
RB
18%
9,590
1,036
-
10,626
3,172
2,137		 Furniture,
fittings and
equipment
£
42,068
-
-
-
42,068
RB
18%
37,725
1,387
-
39,112
4,343
2,956		 Total
£
143,973
-
-
-
143,973
47,315
2,423
-
49,738
96,658
94,236

The effective date of the revaluation was the 17th December 2018. An independent valuer was involved; sales of church buildings in other areas was taken into consideration when the valuation was carried out. The carry amount that would have been recognised had the assets been carried under the historical costs model is £33,343.

16 Debtors and prepayments (receivable within 1 year)

17
Cash at bank and in hand
Cash at bank and in hand
Accrued income		 2024
£
10,646
10,646
2024
£
18,192
18,192		 2023
£
10,646
10,646
2023
£
17,916
17,916

19

MAXIMUM IMPACT CHRISTIAN CENTRE

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 March 2024

18 Creditors and accruals (payable within 1 year)

reditors and accruals (payable within 1 year)
Hire purchase creditors
Independent examination of accounts
Other creditors
Accruals
Other accruals
Other taxation, social security and pension		 2024
£
437
891
1,652
300
-
3,280		 2023
£
5,165
1,845
1,842
300
2,122
11,274
Long Term Loan 2024
£
23,785
23,785		 2023
£
23,785
23,785

This is a government backed Bounce-Bank loan and the repayment is over 10 - 15 years

20 Events after the end of the reporting period

No events (not requiring adjustment to the accounts) have occurred after the end of the reporting period but before the accounts are authorised which relate to conditions that arose after the end of the reporting period.

21 Analysis of charitable funds

Analysis of movements in unrestricted funds

Unrestricted funds
General unrestricted fund
Revaluation reserve
Totals		 Fund
balances
brought
forward
£
49,333
36,747
86,080		 Incoming
resources
£
172,613
-
172,613		 Resources
expended
£
( 166,766 )
-
(166,766 )		 Transfers
£
-
-
-		 Fund
balances
carried
forward
£
55,181
36,747
91,928

Purpose of unrestricted funds

General unrestricted fund The 'reserves' of the charity

20

MAXIMUM IMPACT CHRISTIAN CENTRE

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 March 2024

21 Analysis of charitable funds continued

Analysis of movement in restricted funds

Restricted funds
Big Lottery Fund - Awards for All
Big Lottery Fund - Heritage
Lottery Resilience Fund
Totals		 Fund
balances
brought
forward
£
4,081
-
4,081		 Incoming
resources
£
-
10,000
10,000		 Resources
expended
£
-
( 10,000 )
(10,000 )		 Transfers
£
-
-
-		 Fund
balances
carried
forward
£
4,081
-
4,081

Purpose of restricted funds

Restricted funds represent income resources used for a specific purpose within the charity as identified by the donor.

Big Lottery Fund - Awards for All Employability funding Big Lottery Fund - Heritage To fund a community celebration Lottery Big Lottery Fund - Heritage To develop areas of the church in urgent need of repair Lottery Reilience Fund

22 Capital commitments

As at 31 March 2024, the charity had no capital commitments (2023 -£nil)

23 Analysis of net assets between funds

Cash at bank and in hand
Other net current assets/(liabilities)
Tangible fixed assets
Cash at bank and in hand
Other net current assets/(liabilities)
Tangible fixed assets
Long term assets/(liabilities)
Long term assets/(liabilities)		 Unrestricted
Funds
£
94,236
14,111
7,366
( 23,785 )
91,928
Unrestricted
Funds
£
96,658
13,835
( 628 )
( 23,785 )
86,080		 Restricted
Funds
£
-
4,081
-
-
4,081
Restricted
Funds
£
-
4,081
-
-
4,081		 Total
2024
£
94,236
18,192
7,366
( 23,785 )
96,009
Total
2023
£
96,658
17,916
( 628 )
( 23,785 )
90,161

21