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2021-03-31-accounts

Page
Reference and administrative details ofthe Charitable Company, its Trustees and
advisers
Trustees'
report		 2-6
Independent
examiner's		 report
Statement offinancial activities
Balance sheet 10-11
Statement ofcash flows 12
Notes to the financial statements 13-28
REFERENCE AND ADMINISTRATIVE REFERENCE AND ADMINISTRATIVE REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITABLE COMPANY, ITSTRUSTEES AND DETAILS OF THE CHARITABLE COMPANY, ITSTRUSTEES AND DETAILS OF THE CHARITABLE COMPANY, ITSTRUSTEES AND
ADVISERS
FOR THE YEAR ENDED 31 MARCH 2021
Trustees Mrs Omotunde D Adeola (resigned 17November 2021)
Pastor Adeseye Atunrase
Mr Adejumo S Bakare
Pastor Chuka Nwafor, Chief Executive
Mrs Christians Ekaete Olaoye
Company registered
number 6794767
Charity registered
number 1137881
Registered office Rear of31-33High Road
Chadwell
Heath
Romford
Essex
RM6 6QJ
Chief executive officer Pastor Chuka Nwafor
Accountants Stephen
Michael Associates
Chartered
Certfied Accountants
1st Floor
3 More London Riverside
London
SE12RE
Bankers Barclays Bank Pic
1 - 2 Trinity Way
Chingford
London
E4 8TD

Restricted Unrestricted Total Tota)
funds funds funds funds
2021 2021 2021 2020
Note 6
Income from:
Donations
and		 legacies 157,420 1,453 158,873 5,169
Charitable
activities		 432,146 432,146 719,668
Investments 15 15 215
Total income 157,420 433,614 591,034 725,052
Expenditure
on:
Charitable
activities		 6 157,420 408,590 566,010 763,340
Total expenditure 157,420 408,590 566,010 763,340
Net movement in funds 25,024 25,024 (38,288)
Reconciliation offunds:
Total funds
brought		 forward 673 (18,358) (17,685) 20,603
Net movement in funds 25,024 25,024 (38,288)
Total funds carried forward 673 6,666 7,339 (17,685)

2021 2020
Note
Fixed assets
Tangible assets 18,487 4,137
18,487 4,137
Current assets
Debtors 12 37,223 36,910
Cash at bank and in hand 20,034 37105
57,257 74,015
Creditors: amounts falling due within one
year 13 (58,981) (95,837)
Net current liabilities (1,724) (21,822)
Total assets less current liabilities 16,763 (17,685)
Creditors: amounts falling due after. more
than one year 14 (9,424)
Net assets Iliabilites excluding pension
asset 7,339 (17,685)
Total net assets 7,339 (17,685)
Charity funds
Restricted funds 16 673 673
Unrestncted
funds		 16 6,666 (18,358)
Total funds 7,339 (17,585)

2021 2020
6
Cash flows from operating activities
Net cash used
in operating		 activities (5,563) 29,782
Cash flows from investing activities
Purchase oftangible
fixed assets		 (20,932)
Net cash (used in)/provided by investing activities (20,932)
Cash flows from financing activities
Cash inflows from new borrowing 9,424
Net cash provided
by financing
activities		 9,424
Change
in cash and cash		 equivalents in the year (17,071) 29,782
Cash and cash equivalents at the beginning ofthe year 37,105 7,323
Cash and cash equivalents at the end of the year 20,034 37,105
The notes on pages
I3to 28 form part ofthese financial statements

Restricted Unrestricted Total
funds funds funds
2021 2021 2021
F
Donations 1,453 1,453
Government grants 157,420 157,420
157,420 1,453 158,873
Unrestricted Total
funds funds
2020 2020
Donations 5,169 5,169
4. Income from charitable activities
Unrestricted Total
funds funds
2021 2021
5 F
Income from charitable activities - Children education services 432,146 432,148
Unrestricted Total
funds funds
2020 2020
Income from charitable activities - Children education services 719,668 719,668

Unrestricted Total
funds funds
2021 2021
F 5
Investment income - local cash 15 15
Unrestricted Total
funds funds
2020f 2020
Investment income —local investment properties 215 215
Restricted Unrestricted Total
funds funds funds
2021 2021 2021
F 6
157,420 408,590 566,010
Unrestricted Total
funds funds
2020 2020
F
763,340 763,340

Activities
undertakerr Support Total
directly costs funds
2021
f.		 2021f 2021
f.
Children education services 484,709 81,301 566,010
Activiti es
undertaken Support Total
directly costs funds
2020 2020f 2020f
Children education services 668,802 94,538 763,340
Analysis of direct costs
Children
education Total
services funds
2021 2021f
Staff costs 378,588 378,588
Nursery and pre-school expenses 23,186 23,185
Premises costs 73,477 7,3,477
Communication costs 4,302 4,302
Professional fees 5,156 5,156
484,709 484,709

Analysis of dire ct costs (continued)
Children
education Total
services funds
2020 2020f
Staff costs 508,621 508,621
Nursery
and		 pre-school expenses 33,489 33,489
Premises costs 105,300 105,300
Communication costs 4,453 4,453
Professional fees 16,939 16,939
668,802 668,802
Analysis of support costs
Children
education Total
services funds
2021 2021
F 6
Staff costs 29,484 29,484
Depreciation 6,582 6,582
Nursery
and		 pre-school expenses 8,591 8,591
Rent 7,975 7„975
Communication costs 771 771
Office expenses 7,559 7,559
Professional fees 878 878
Premises expenses 9,465 9,465
Donation 6,550 6,550
Dues 8 Subscription 146 146
Governance costs 3,300 3,300
81,301 81,301

Analysis ofsup port costs (continued)
Children
education Total
services funds
2020f 2020
Staff costs 39,474 39,474
Depreciation 2,163 2,163
Nursery
and pre-school expenses		 8,660 8,660
Premises costs 11,700 11,700
Communication costs 5,198 5,198
Office expenses 4,071 4,071
Professional fees 1,298 1,298
Promotion
and		 publicity 9,619 9,619
Donation 7,776 7,776
Dues &Subscription 1,279 1,279
Governance costs 3,300 3,300
94,538 94,538

2021 2020
Fees payable to the Charitable Company's independent examiner for the
independent examination ofthe Charitable Company's annual accounts 3,300 3,300
9. Staff costs
2021 2020
Wages and salaries 393,259 5'/3,997
Social security costs 9,971 27,276
Contribution to defined contribution pension schemes 4,842 6,822
408,072 548,095

2021 2020
No. No.
Management 3
Staff 35
38

other capacity.

The value ofTruste		 ,


es'
remuneration
and other benefits		 py

was as follows:		 any
2021 2020
5
Pastor Chuka Nwafor Remuneration 21,689 23,040
Mrs Omotunde D Adeola Remuneration 17,379 13,297

Plant and Motor Office
machinery
f.		 vehicles
f.		 equipment
f		 Total
Cost or valuation
At 1 April 2020 9,278 4,105 8,609 21,992
Additions 1,743 18,050 1,139 20,932
At 31 March 2021 11,021 22,155 9,748 42,924
Depreciation
At 1 April 2020 6,115 3i131 8,609 17,855
Charge for the year 1,653 4,758 171 6,582
At 31 March 2021 7,768 7,889 8,780 24,437
Net book value
At 31 March 2021 3,253 14,266 968 18,487
At 31March 2020 3,163 974 4,137

2021 2020
Due within one year
Trade debtors 28,060 26,710
Other debtors 9,163 10,200
37,223 36,910

2021
f.		 2020f
Trade creditors 796
Other taxation
and social security		 6,421
Obligations
under finance lease and hire purchase		 contracts 2,630
Pension
fund loan payable		 954
Other creditors 38,531 85,320
Accruals and deferred income 16,843 3,300
5&,981 95,837
14. Creditors: Amounts falling due after more than one year
2021f 2020
Net obligations
under		 finance lease and hire purchase contracts 9,424
15. Financial
instruments
2021
f.		 2020f
Financial assets
Financial assets measured
at fair value through		 income and expenditure 20,034 37,105

Statement effunds - current year
Balance at
Balance at 1 31 March
April 2020 Income Expenditure 2021
8 5
Unrestricted funds
General Funds - all funds (18,358) 433,614 (408,590) 6,666
Restricted funds
Restricted Funds - ell funds 673
Coronavirus Job Retention Scheme 157,420 (157,420)
673 157,420 (157,420) 673
Total offunds (17,685) 591,034 (566,010) 7,339

Summary offunds - current year
Balance at
Balance at 1 31 March
April 2020f Income
f		 Expenditure
f		 2021f
General funds (1&,36&} 433,614 (40&,690) 6,666
Restricted funds 673 157,420 (157,420) 673
(17,685) 591,034 (666,010) 7,339
Summary offunds - prior year
Balance at
Balance at 31 March
1April 2019 income Expenditure 2020f
General funds 19,930 725,052 (763,340) (18,358)
Restricted funds 673
20,603 725,052 (763,340) (17,585)

Analysis ofnet assets between funds - current year
Restricted Unrestricted Total
funds funds funds
2021 2021 2021
6
Tangible fixed assets 18,487 18,487
Debtors due after more than one year 673 (673)
Current assets 57,257 57,257
Creditors due within one year (58,981) (58,981)
Creditors due in more than one year (9,424) (9,424)
Total 673 6,666 7,339
Analysis of n et assets between funds - prior year
Restricted Unrestricted Total
funds funds funds
2020 2020 2020
Z 5
Tangible fixed assets 4,137 4,137
Current assets 673 73,342 74,015
Creditors due within one year (95,837) (95,837)
Total 673 (16,358) (17,685)

19. Reconciliation
of		 net net movement movement movement in funds in funds to net cash flow from operating activities
2021 2020
F
Net
income/expenditure		 for the year (as per Statement of Financial
Activities) 25,024 (38,288)
Adjustments
for:
Depreciation
charges		 6,582 2,163
Increase
in debtors		 (313) (2,512)
Increase/(decrease) in creditors (36,856) 68,419
Net cash provided by/(used in) operating activities (5,563) 29,782
20. Analysis ofcash and cash equivalents
2021 2020
F
Cash
in hand		 20,034 37,105
Total cash and cash equivalents 20,034 37,105
21. Analysis ofchanges in net debt
At 1 April At 31 March
2020 Cash flows 2021
F 6
F
Cash at bank and in hand 37,105 (17,071) 20,034
Debt due within
1 year		 (954) (954)
Finance leases (12,054) (12,054)
37,105 (30,079) 7,026

2021 2020
8
Amount
owed to RCCG International		 Christian Centre —in Other creditors
(Note 13) 18,&67 66,813
Rent payable to RCCG International Christian Centre 84,000 117,000