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|---|---|---|---|---|---|---|
|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|||||
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||||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|
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|||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|
##
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|||||||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|
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|||||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|
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|||||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|
##
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|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|
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||2022|2021|
|---|---|---|
||No.|No.|
|Management|3|3|
|Staff|39|37|
||42|40|
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||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|
##
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||||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|
##
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|||||||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|
##
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|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|
##
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|||||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|
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|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|
##
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||||||||||||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|
##
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||||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|