| Page | ||||||
|---|---|---|---|---|---|---|
| Reference and administrative | details ofthe Charitable | Company, | its Trustees | and | ||
| advisers | ||||||
| Trustees' report |
2-6 | |||||
| Independent examiner's |
report | 7-8 | ||||
| Statement offinancial activities | ||||||
| Balance sheet | 10-11 | |||||
| Statement ofcash flows | 12 | |||||
| Notes to the financial statements | 13-29 |
| 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 | DETAILS OF THE CHARITABLE COMPANY, ITSTRUSTEES AND |
|---|---|---|---|---|---|---|
| ADVISERS | ||||||
| FOR THE YEAR ENDED 31 | MARCH 2022 | |||||
| Trustees | Mrs Omotunde | D Adeola (resigned | 17November 2021) | |||
| Pastor Adeseye | Atunrase | |||||
| Mr Adejumo S | Bakare | |||||
| Pastor Chuka | Nwafor, | Chief Executive | ||||
| Mrs Christiana | Ekaete | Olaoye | ||||
| Company | registered | |||||
| number | 6794767 | |||||
| Charity registered | ||||||
| number | 1137881 | |||||
| Registered | office | Rear of 31-33High Road | ||||
| Chadwell Heath |
||||||
| Romford | ||||||
| Essex | ||||||
| RM6 6QJ | ||||||
| Chief executive officer | Pastor Chuka | Nwafor | ||||
| Accountants | Stephen Michael Associates |
|||||
| Chartered Cerffied Accountants |
||||||
| 201 Borough | High Street | |||||
| London | ||||||
| SE1 1JA | ||||||
| Bankers | Barclays Bank | Pic | ||||
| 1 - 2 Trinity Way | ||||||
| Chingford | ||||||
| London | ||||||
| E4 8TD |
| Restricted | Unrestricted | Total | Total | |||
|---|---|---|---|---|---|---|
| funds | funds | funds | funds | |||
| Note | 2022 6 |
2022 6 |
2022 6 |
2021f | ||
| Income from: | ||||||
| Donations and legacies |
3 | 51,385 | 7,689 | 59,074 | 158,873 | |
| Charitable activities |
4 | 572,092 | 572,092 | 432,146 | ||
| Investments | 5 | 15 | ||||
| Total income | 51,385 | 579,781 | 631,166 | 591,034 | ||
| Expenditure on: |
||||||
| Charitable activities |
6 | 51,385 | 580,968 | 632,353 | 566,010 | |
| Total expenditure | 51,385 | 580,968 | 632,353 | 586,010 | ||
| Net movement in funds |
(1,187) | (1,187) | 25,024 | |||
| Reconciliation offunds: |
||||||
| Total funds brought | forward | 673 | 6,666 | 7,339 | (17,685) | |
| Net movement in funds |
(1,187) | (1,187) | 25,024 | |||
| Total funds carried forward | 673 | 5,479 | 6,152 | 7,339 |
| BALANCE SHEET | BALANCE SHEET | ||||||
|---|---|---|---|---|---|---|---|
| AS AT 31 IIIIARCH 2022 | |||||||
| Note | 2022f | 2021f | |||||
| Fixed assets | |||||||
| Tangible assets | 13,095 | 18,487 | |||||
| 13,095 | 18,487 | ||||||
| Current assets | |||||||
| Debtors | 12 | 49,022 | 37,223 | ||||
| Cash at bank and | in hand | 27,905 | 20,034 | ||||
| 76,927 | 57,257 | ||||||
| Creditors; amounts |
falling due within one | ||||||
| year | 13 | (77,077) | (58,981) | ||||
| Net current liabilities |
(150) | (1,724) | |||||
| Total assets less | current liabilities | 12,945 | 16,763 | ||||
| Creditors: amounts | falling due after more | ||||||
| than one year | (6,793) | (9,424) | |||||
| Net assets excluding | pension asset | 6,152 | 7,339 | ||||
| Total net assets | 6,152 | 7,339 | |||||
| Charity funds | |||||||
| Restricted funds |
16 | 673 | 673 | ||||
| Unrestricted funds |
16 | 5,479 | 6,666 | ||||
| Total funds | 6,152 | 7,339 |
| STATEMENT OF CASH FLOWS | STATEMENT OF CASH FLOWS | |||||
|---|---|---|---|---|---|---|
| FOR THE YEAR ENDED 31 MARCH 2022 | ||||||
| 2022 6 |
2021f | |||||
| Cash flows from operating | activities | |||||
| Net cash used in operating |
activities | 10,502 | (5,563) | |||
| Cash flows from Investing | activities | |||||
| Purchase oftangible fixed assets |
(20,932/ | |||||
| Net cash provided by/(used |
in) investing | activities | (20,932) | |||
| Cash flows from financing | activities | |||||
| Cash inflowe from new borrowing | (2,631) | 9,424 | ||||
| Net cash (used in)/provided | by financing | activities | (2,631) | 9,424 | ||
| Change in cash and cash |
equivalents | In | the year | 7,871 | (17,071) | |
| Cash and cash equivalents | at the beginning | ofthe year | 20,034 | 37,105 | ||
| Cash and cash equivalents | at the end | of | the year | 27,905 | 20,034 |
| Restricted | Unrestricted | Total | ||
|---|---|---|---|---|
| funds | funds | funds | ||
| 2022 | 2022 | 2022 | ||
| E | 5 | 5 | ||
| Donations | 7,689 | 7,689 | ||
| Government | grants | 51,385 | 51,385 | |
| 51,385 | 7,689 | 59,074 | ||
| Restricted | Unrestricted | Total | ||
| funds | funds | funds | ||
| 2021f | 2021 5 |
2021 5 |
||
| Donations | 1,453 | 1,453 | ||
| Government | grants | 157,420 | 157,420 | |
| 157,420 | 1,453 | 158,873 |
| Unrestricted | Total | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| funds | funds | ||||||||
| 2022 | 2022 | ||||||||
| F | 5 | ||||||||
| Income | from | charitable | activities | - | Children | education | services | 572,092 | 572,092 |
| Unrestricted | Total | ||||||||
| funds | funds | ||||||||
| 2021f | 2021 5 |
||||||||
| Income | from | charitable | activities | - | Children | education | services | 432,146 | 432,146 |
| Total | ||||||
|---|---|---|---|---|---|---|
| funds | ||||||
| 2022f | ||||||
| Unrestricted | Total | |||||
| funds | funds | |||||
| 2021f | 2021f | |||||
| Investment | income - local | cash | 15 | 15 | ||
| 6. | Analysis | ofexpenditure | on charitable | activities | ||
| Summary | by fund type |
| Restricted | Unrestricted | Total | |||
|---|---|---|---|---|---|
| funds | funds | funds | |||
| 2022 6 |
2022 6 |
2022f | |||
| Children | education | services | 51,385 | 580,968 | 632,363 |
| Restricted | Unrestricted | Total | |||
| funds | funds | funds | |||
| 2021 | 2021f | 2021f | |||
| Children | education | services | 157,420 | 408,590 | 566,010 |
| Activities | ||||||
|---|---|---|---|---|---|---|
| undertaken | Support | Total | ||||
| directly | costs | funds | ||||
| 2022 f. |
2022f | 2022f | ||||
| Children | education | services | 553,868 | 78,485 | 632,353 | |
| Activities | ||||||
| undertaken | Support | Total | ||||
| directly | costs | funds | ||||
| 2021f | 2021f | 2021f | ||||
| Children | education | services | 484,709 | 81,301 | 566,010 | |
| Analysis | ofdirect | costs | ||||
| Children | ||||||
| education | Total | |||||
| services | funds | |||||
| 2022 F |
2022f | |||||
| Staff costs | 431,972 | 431,972 | ||||
| Nursery | and pre-school expenses | 24,897 | 24,897 | |||
| Premises | costs | 76,478 | 76,478 | |||
| Communication | costs | 5,808 | 5,808 | |||
| Professional fees | 14,713 | 14,713 | ||||
| 553868 | 553868 |
| Children | |||||
|---|---|---|---|---|---|
| education | Total | ||||
| services | funds | ||||
| 2021f | 2021f | ||||
| Staff costs | 378,588 | 378,588 | |||
| Nursery | and | pre-school expenses | 23,186 | 23,186 | |
| Premises | costs | 73,477 | 73,477 | ||
| Communication | costs | 4,302 | 4,302 | ||
| Professional | fees | 5,156 | 5,156 | ||
| 484,709 | 484,709 | ||||
| Analysis | of | support costs |
| Children | ||||
|---|---|---|---|---|
| education | Total | |||
| services | funds | |||
| 2022f | 2022f | |||
| Staff costs | 32,512 | 32,512 | ||
| Depreciation | 5,392 | 6,392 | ||
| Nursery and |
pre-school expenses | 3,378 | 3,378 | |
| Rent | 8,498 | 8,498 | ||
| Communication | costs | 2,418 | 2,418 | |
| Office expenses | 7,655 | 7,655 | ||
| Professional | fees | 1,351 | 1,351 | |
| Premises expenses | 7,141 | 7,141 | ||
| Donation | 6,511 | 6,511 | ||
| Dues &Subscription | 329 | 329 | ||
| Governance | costs | 3,300 | 3,300 | |
| 78,485 | 78,485 |
| Analysis of | sup | port costs (continued) | ||
|---|---|---|---|---|
| Children | ||||
| education | Total | |||
| se/v/ces | funds | |||
| 2021f | 2021f | |||
| Staff costs | 29,484 | 29,484 | ||
| Depreciation | 6,582 | 6,582 | ||
| Nursery and |
pre-school expenses | 8,591 | 8,591 | |
| Premises costs | 7,975 | 7,975 | ||
| Communication | costs | 771 | 771 | |
| Offic expenses | 7,559 | 7,559 | ||
| Professional | fees | 878 | 878 | |
| Promotion and |
publicity | 9,465 | 9,465 | |
| Donation | 6,550 | 6,550 | ||
| Dues &Subscription | 146 | 146 | ||
| Governance | costs | 3,300 | 3,300 | |
| 81,301 | 81,301 |
| 8. | Independent | examiner's | examiner's | remuneration | remuneration | remuneration | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2022f | 2021f | |||||||||||
| Fees payable to the Charitable independent examination and annual accounts |
Company's preparation |
independent examiner for the ofthe Charitable Company's |
3,300 | 3,300 | ||||||||
| 9. | Staff costs | |||||||||||
| 2022f | 2021f | |||||||||||
| Wages and | salaries | 443,300 | 393,259 | |||||||||
| Social security costs | 15,410 | 9,971 | ||||||||||
| Contribution | to defined | contribution | pension schemes | 5,774 | 4,842 | |||||||
| 464,484 | 408,072 |
| 2022 | 2021 | |
|---|---|---|
| No. | No. | |
| Management | 3 | 3 |
| Staff | 39 | 37 |
| 42 | 40 |
| Plant and | Motor | Office | ||
|---|---|---|---|---|
| machinery | vehicles f |
equipment F |
Total f. |
|
| Cost or valuation | ||||
| At 1 April 2021 | 11,021 | 22,155 | 9,748 | 42,924 |
| At 31 March 2022 | 11,021 | 22,155 | 9,748 | 42,924 |
| Depreciation | ||||
| At 1 April 2021 | 7,768 | 7,889 | 8,780 | 24,437 |
| Charge for the year | 1,654 | 3,567 | 171 | 5,392 |
| At 31 March 2022 | 9,422 | 11,456 | 8,951 | 29,829 |
| Net book value | ||||
| At 31 March 2022 | 1,599 | 10,699 | 797 | 13,095 |
| At 31March 2021 | 3,253 | 14,266 | 968 | 18,487 |
| Debtors | ||
|---|---|---|
| 2022f | 2021f | |
| Due within one year | ||
| Trade debtors | 37,757 | 28,060 |
| Other debtors | 11,265 | 9,163 |
| 49,022 | 37,223 |
| 2022 | 2021 | |||
|---|---|---|---|---|
| 6 | ||||
| Trade creditors | 536 | 23 | ||
| Other taxation and social security | 5,170 | |||
| Obligations under finance lease and hire purchase |
contracts | 2,630 | 2,630 | |
| Pension fund loan payable |
972 | 954 | ||
| Other creditors | 50,926 | 38,531 | ||
| Accruals and deferred | income | 16,843 | 15,843 | |
| 77,077 | 58,981 |
| 2022 | 2021 | ||||||
|---|---|---|---|---|---|---|---|
| E | E | ||||||
| Net obligations | under finance lease and hire purchase | contracts | 6,793 | 9,424 | |||
| Financial | instruments | ||||||
| 2022 | 2021 | ||||||
| 6 | |||||||
| Financial | assets | ||||||
| Financial | assets | measured | at fair value through | income | and expenditure | 27,905 | 20,034 |
| Statement | offunds - current year | ||||||
|---|---|---|---|---|---|---|---|
| Balance at | |||||||
| Balance at 1 | 31 March | ||||||
| April | 2021 5 |
Income 5 |
Expenditure E |
2022 5 |
|||
| Unrestricted | funds | ||||||
| General Funds - all funds | 6,666 | 579,781 | (580,968) | 5,479 | |||
| Restricted | funds | ||||||
| Restricted | Funds - all funds | 673 | 673 | ||||
| Coronavirus | Job Retention Scheme | 51,385 | (51,385) | ||||
| 673 | 61,385 | (51,385) | 673 | ||||
| Total offunds | 7,339 | 631,166 | (632,363) | 6,152 |
| Balance at | ||||
|---|---|---|---|---|
| Balance at 1 | 31 March | |||
| April 2021f | Income f |
Expenditure f |
2022f | |
| General funds | 6,666 | 579,781 | (580,968) | 5,479 |
| Restricted funds | 673 | 51,385 | (51,386) | 673 |
| 7,339 | 631,166 | (632,353) | 6,152 |
| Summary | offunds - prior year | ||||
|---|---|---|---|---|---|
| Balance al | |||||
| Salance al | 31March | ||||
| 1 April 2020 | Income | Expendituref | 2021 | ||
| General funds | (18,358) | 433,614 | (408,590) | 6,666 | |
| Restricted | funds | 673 | 157,420 | (157,420) | 673 |
| (17,685) | 591,034 | (566,010) | 7,339 |
| Analysis of net assets between funds - current |
year | ||
|---|---|---|---|
| Restricted | Unrestricted | Total | |
| funds | funds | funds | |
| 2022 f |
2022 F |
2022f | |
| Tangible fixed assets | 13,095 | 13,095 | |
| Current assets | 673 | 76,254 | 76,927 |
| Creditors due within one year | (77,077) | (77,077) | |
| Creditors due in more than one year | (6,793) | (6,793) | |
| Ttl | 673 | 5,479 | 6,152 |
| Analysis | of net assets between funds - prior ye |
ar | ||
|---|---|---|---|---|
| Restricted | Unrestricted | Total | ||
| funds | funds | funds | ||
| 2021 f |
2021 f |
2021 | ||
| Tangible | fixed assets | 18,487 | 18,487 | |
| Current assets | 673 | 56,584 | 57,257 | |
| Creditors | due within one year | (58,981) | (58,981) | |
| Creditors | due in more than one year | (9,424) | (9,424) | |
| 673 | 6,666 | 7,339 |
| 2022 f |
2021 | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net income/expenditure for |
the | year | (as | per | Statement | of Financial | ||||||
| Activities) | (1,187) | 25,024 | ||||||||||
| Adjustments for: |
||||||||||||
| Depreciation charges |
5,392 | 6,582 | ||||||||||
| Increase in debtors |
(11,799) | (313) | ||||||||||
| Increase/(decrease) | in creditors | 18,096 | (36,856) | |||||||||
| Net cash provided | by/(used | in) operating | activities | 10,502 | (5,563) | |||||||
| 20. | Analysis ofcash and cash equivalents |
|||||||||||
| 2022 f. |
2021f | |||||||||||
| Cash in hand |
27,905 | 20,034 | ||||||||||
| Total cash and cash | equivalents | 27,905 | 20,034 | |||||||||
| 21. | Analysis ofchanges | in net debt |
| At 1 April | At 31 March | |||
|---|---|---|---|---|
| 2021 F |
Cash flows f |
2022 f |
||
| Cash at bank and in hand | 20,034 | 7,871 | 27,905 | |
| Debt due within | 1 year | (954) | (18) | (972) |
| Finance leases | (12,054) | 2,631 | (9,423) | |
| 7,026 | 10,484 | 17,510 |
| 2022 5 |
2021 f |
|||
|---|---|---|---|---|
| Amount owed to RCCG International |
Christian | Centre - in Other creditors | ||
| (Note 13) | 28,534 | 18,867 | ||
| Rent payable to RCCG International | Christian | Centre | 84,000 | 84,000 |