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||||||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|||||13-28|
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|Trustees||Pastor Adeseye|Pastor Adeseye|Atunrase|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 of31-33 High Road||||
|||Chadwell
Heath||||
|||Romford||||
|||Essex||||
|||RM6 6QJ||||
|Chief executive officer||Pastor Chuka|Nwafor|||
|Accountants||Stephen
Michael Associates||||
|||Chartered
Certfied 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|2023f|2023
6|2023
F|2022f|
|Income from:|||||||
|Donations
and legacies||||6,020|6,020|59,074|
|Charitable
activities||||501,085|501,085|572,092|
|Total income||||507,105|507,105|631,165|
|Expenditure
on:|||||||
|Charitable
activities||||555,761|555,761|632,353|
|Total expenditure||||555,761|555,761|632353|
|Net movement
in funds||||(48,656)|(48,656)|(f, f87)|
|Reconciliation
offunds:|||||||
|Total funds brought|forward||673|5,479|6,152|7,339|
|Net movement
in funds||||(48,656)|(48,656)|(f, 187)|
|Total funds carried forward|||673|(43,177)|(42,504)|6, 152|
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|||||||2023||2022|
|---|---|---|---|---|---|---|---|---|
|||||Note||F|||
|Fixed assets|||||||||
|Tangible assets||||10||12,302||13,095|
|||||||12,302||13,095|
|Current assets|||||||||
|Debtors||||11|58,697||49,022||
|Cash at bank and|in hand||||14,178||27,905||
||||||72,875||76,927||
|Creditors: amounts|falling|due within one|||||||
|year||||12|(123,518)||(77,077)||
|Net current liabilities||||||(50,643)||(150)|
|Total assets less|current|liabilities||||(38,341)||12,945|
|Creditors: amounts|falling|due after|more||||||
|than one year||||13||(4,163)||(6,793)|
|Net liabilities
Iassets excluding
asset|||pension|||(42,504)||6,152|
|Total net assets||||||(42,504)||6,152|
|Charity funds|||||||||
|Restricted funds||||15||673||673|
|Unrestricted
funds||||15||(43,177)||5,479|
|Total funds||||||(42,504)||6,152|
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||||||2023|2022|
|---|---|---|---|---|---|---|
||||||F||
|Cash flows from operating||activities|||||
|Net cash used
in operating|activities||||(8,127)|10,502|
|Cash flows from investing||activities|||||
|Purchase
of tangible
fixed assets|||||2,910||
|Net cash provided
by Investing
activities|||||2,910||
|Cash flows from financing||activities|||||
|Cash inflaws from new borrowing|||||(8,510)|(2,63f)|
|Net cash used
in financing||activities|||(8,510)|(2,531)|
|Change
in cash and cash||equivalents|In|the year|(13,727)|7,871|
|Cash and cash equivalents||at the beginning||of the year|27,905|20,034|
|Cash and cash equivalents||at the end of||the year|14,178|27,905|
|The notes on pages 13to 28 form part ofthese financial statements|||||||
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|||Restricted|Unrestricted|Total|
|---|---|---|---|---|
|||funds|funds|funds|
|||2023
f|2023
f|2023f|
|Donations|||6,020|6,020|
|||Restricted|Unrestricted|Total|
|||funds|funds|funds|
|||2022
f|2022|2022|
|Donations|||7,689|7, 689|
|Government|grants|51,385||51,385|
|||51,385|7,689|59,074|
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|||||||||Unrestricted|Total|
|---|---|---|---|---|---|---|---|---|---|
|||||||||funds|funds|
|||||||||2023
F|2023f|
|Income|from|charitable|activities|-|Children|education|services|501,085|501,085|
|||||||||Unrestricted|Total|
|||||||||funds|funds|
|||||||||2022|2022f|
|Income|from|charitable|activities|-|Children|education|services|572,092|572,092|
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|||||Unrestricted||
|---|---|---|---|---|---|
|||||funds|Total|
|||||2023|2023|
|||||6|6|
|Children|education|services||555,761|555,761|
||||Restdcted|Unrestricted||
||||funds|funds|Total|
||||2022|2022|2022|
|||||6|6|
|Children|education|services|51,385|580,968|632,353|
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||||Activities|||
|---|---|---|---|---|---|
||||undertaken|Support|Total|
||||directly
2023
6|costs
2023f|funds
2023
F|
|Children|education|services|498,631|57,130|555,761|
||||Activities|||
|---|---|---|---|---|---|
||||undertaken|Support|Total|
||||directly|costs|funds|
||||2022f|2022|2022|
|Children|education|services|553,868|78,485|632,353|
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||||Children||
|---|---|---|---|---|
||||education|Total|
||||services|funds|
||||2023
8|2023f|
|Staff costs|||398,135|398,135|
|Nursery
and pre-school expenses
Premises costs|||32,963
50,804|32,963
50,804|
|Communication||costs|11,318|11,318|
|Professional|fees||5,411|5,411|
||||498,631|498,631|
||||Children||
||||education|Totel|
||||services|funds|
||||2022|2022|
|||||8|
|Staff costs|||431,972|431,972|
|Nursery
and pre-school expenses
Premises costs|||24,897
76,478|24,897
76,478|
|Communication||costs|5,808|5,808|
|Professional|fees||14,713|14,713|
||||553,868|553,868|
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|||Children||
|---|---|---|---|
|||education|Total|
|||services|funds|
|||2023
6|2023f|
|Staff costs||31,463|31,463|
|Depreciation||2,036|2,036|
|Vehicle expenses||6,476|6,476|
|Rent||5,645|5,645|
|Computer
software and services||2,489|2,489|
|Office expenses||929|929|
|Recruitment|cost|148|148|
|Bank service|charge|1,917|1,917|
|Repairs and|maintenance|202|202|
|Printing
postage and stationery||34|34|
|Donation||718|718|
|Dues & Subscription||1,773|1,773|
|Governance|costs|3,300|3,300|
|||57,130|57,130|
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|Analysis ofsupport|costs (continued)|||
|---|---|---|---|
|||Children||
|||education|Total|
|||services|funds|
|||2022f|2022f|
|Staff costs||32,512|32,512|
|Depreciation||5,392|5,392|
|Vehicle expenses||3,378|3,378|
|Rent||8,498|8,498|
|Communication
costs||735|735|
|Computer
software|and services|6,315|6,315|
|Office expenses||1,340|1,340|
|Bank service charge||1,351|1,351|
|Repairs and maintenance
Printing
postage and stationery
Donation||7, 141
1,683
6,511|7, 141
1,683
6,511|
|Dues & Subscription||329|329|
|Governance
costs||3,300|3,300|
|||78,485|78,485|
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|Staff costs||||||
|---|---|---|---|---|---|
|||||2023f|2022f|
|Wages and salaries
Social security costs||||400,616
23,501|443,300
15,410|
|Contribution|to defined|contribution|pension schemes|5,481|5,774|
|||||429,598|464,484|
|The average
number
of persons employed
by the|Charitable
Company
during
the year was as f|ollows:|
|---|---|---|
||2023|2022|
||No.|No.|
|Management
Staff|3
44|3
39|
||47|42|
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||||||2023|2022f|
|---|---|---|---|---|---|---|
|Pastor|Chuka|Nwafor|Remuneration||23 050|23099|
||||Pension contributions|paid|504|506|
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||Plant and|Motor|Office||
|---|---|---|---|---|
||machinery
6|vehicles
6|equipment
F|Total
6|
|Cost or valuation
At 1 April 2022
Additions|11,021
2,910|22,155|9,748|42,924
2,910|
|At 31 March 2023|13,931|22,155|9,748|45,834|
|Depreciation
At 1 April 2022
Charge for the year|9,422
607|11,456
2,675|8,951
421|29,829
3,703|
|At 31 March 2023|10,029|14,131|9,372|33,532|
|Net book value|||||
|At 31 March 2023|3,902|8,024|376|12,302|
|At 31 March 2022|1,599|10,699|797|13,095|
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|Debtors|||
|---|---|---|
||2023|2022|
|Due within one year
Trade debtors
Other debtors|34,464
24,233|37, 757
11,265|
||58,697|49,022|
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||||||||2023
E|2022f|
|---|---|---|---|---|---|---|---|---|
||Trade creditors||||||579|536|
||Other taxation and social security||||||8,653|5,170|
||Obligations|under finance lease and hire purchase|||contracts||5,260|2,630|
||Pension
fund loan payable||||||1,082|972|
||Other creditors||||||78,378|50,926|
||Accruals and deferred||income||||29,566|16,843|
||||||||123,518|77,077|
|13.|Creditors:|Amounts|falling due after more than||one|year|||
||||||||2023|2022|
|||||||||5|
||Net obligations
under||finance lease and hire purchase|||contracts|4,163|6,793|
|14.|Financial|instruments|||||||
||||||||2023|2022|
||||||||E||
||Financial|assets|||||||
||Financial|assets measured
at fair value through||income and expenditure|||14,178|27,905|
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|Statemen|t|offunds - current year||||||
|---|---|---|---|---|---|---|---|
||||||||Balance at|
||||Balance at 1||||31 March|
||||April|2022|Income|Expenditure|2023|
|||||E|||6|
|Unrestricted||funds||||||
|General|Funds - all funds||5,479||507,105|(555,761)|(43,177)|
|Restricted||funds||||||
|Remember||||673|||673|
|Total of|funds||6,152||507,105|(555,761)|(42,504)|
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|||||||Balance at|
|---|---|---|---|---|---|---|
||||Balance at|||31 March|
||||1 April 2021|Income|Expenditure|2022|
|Unrestricted|funds||||||
|General
Funds - all funds|||6,666|579,781|(580,968)|5,479|
|Restricted|funds||||||
|Remember|||673|||673|
|Coronavirus|Job Retention|Scheme||51,385|(51,385)||
||||673|51,385|(51,385)|673|
|Total offunds|||7,339|631,166|(632,353)|6, 152|
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||||||||Balance at|
|---|---|---|---|---|---|---|---|
||||Balance at 1||||31 March|
||||April 2022
F|Income
f|Expenditure|f|2023f|
|General|funds||5,479|507,105|(555,761)||(43,177)|
|Restricted||funds|673||||673|
||||6,152|507,105|(555,761)||(42,504)|
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|Summary|offunds - prior year||||||
|---|---|---|---|---|---|---|
|||||||Balance al|
|||Balance al||||31 March|
|||1 April|2021f|Income
f|Expenditure
f|2022|
|General funds|||6,666|579,781|(580,968)|5,479|
|Restricted|funds||673|51,385|(51,385)|673|
||||7,339|631,166|(632,353)|6,152|
|Analysis|of net assets between|funds|||||
|Analysis|of net assets between|funds - current year|||||
|||||Restricted|Unrestricted|Total|
|||||funds|funds|funds|
|||||2023
f|2023
f|2023f|
|Tangible|fixed assets||||12,302|12,302|
|Current assets||||673|72,202|72,875|
|Creditors|due within one year||||(123,518)|(123,518)|
|Creditors|due in more than one year||||(4,163)|(4,163)|
|Total||||673|(43,177)|(42,504)|
|Analysis|of net assets between|funds - prior year|||||
|||||Restricted|Unrestn'cled|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)|
|||||673|5,479|6, 152|
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|18.|Reconciliation
of net|Reconciliation
of net|movement|movement|in funds|to net cash flow from operating|to net cash flow from operating|activities||
|---|---|---|---|---|---|---|---|---|---|
|||||||||2023
f.|2022f|
||Net expenditure
for the||year (as per Statement of Financial||||Activities)|(48,656)|(1,187)|
||Adjustments
for:|||||||||
||Depreciation
charges|||||||3,703|5,392|
||Increase
in debtors|||||||(9,675)|(11,799)|
||Increase
in creditors|||||||46,501|18,096|
||Net cash provided|by/(used||In) operating||activities||(8,127)|10,502|
|19.|Analysis
ofcash and||cash|equivalents||||||
|||||||||2023|2022|
|||||||||6||
||Cash in hand|||||||14,178|27,905|
||Total cash and cash||equivalents|||||14,178|27,905|
|20.|Analysis ofchanges||in net|debt||||||
||||At 1 April||At 31 March|
|---|---|---|---|---|---|
||||2022|Cash flows
F|2023
f|
||||F|||
|Cash at bank and||in hand|27,905|(13727)|14178|
|Debt due within|1|year|(972)|(110)|(1,082)|
|Finance leases|||(9,423)||(9,423)|
||||17,510|(13,837)|3,673|
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|||||2023
F|2022f|
|---|---|---|---|---|---|
|Amount
owed
(Note 13)|to RCCG International|Christian|Centre - in Other creditors|62,534|28,534|
|Rent payable|to RCCG International|Christian|Centre|47,000|84,000|