## **IMPACT GOSPEL CENTRE**
**FINANCIAL STATEMENTS 31[ST] DECEMBER 2021**
**Charity Number - 1138605 Company Number - 7199684**
## **IMPACT GOSPEL CENTRE**
## **Trustees**
Festus Onerhime Babatunde Ogedengbe Adebayo Ogunjimi
## **Minister in Charge**
Pastor Ayodeji Fayoyin
**Charity number** 1138605
## **Registered address**
14 Bolton Road Luton LU1 3HR
## **Accountants**
Abica Phil & Co Financial Accountants 1 Cotleigh Road West Hampstead London NW6 2NL
**Bankers** Yorkshire Bank Barclays Bank
## **IMPACT GOSPEL CENTRE FINANCIAL STATEMENTS**
## **YEAR ENDED 31[st] December 2021**
|**CONTENTS**|**PAGE**|
|---|---|
|Trustees’ annual report|**4**|
|Independent Examiner|**7**|
|Statement of the financial activities|**8**|
|Balance sheet|**9**|
|Notes to the financial statements|**10**|
## **IMPACT GOSPEL CENTRE TRUSTEES ANNUAL REPORT**
## **YEAR ENDED 31[st] December 2021**
The trustees have pleasure in presenting their report and accounts for the period ended 31[st] December 2021.
## **Principal Objects of the charity**
The principal aims and objectives of the Church are
- a) The advancement of the Christian faith.
- b) The furtherance of the charitable work of the charity by advancement of charitable purposes consistent with our Christian moral and spiritual values.
## **Government**
The Directors of the Charity are its Trustees who for the purpose of charity law and throughout this report are collectively referred to as the Trustees. The policy and operating decisions of the charity rest with the Trustees who meet regularly to monitor the activities of the Company. All Trustees give their time to the Charity freely and no Trustee received remuneration in the year.
## **Review of Activities**
1. Regular programmes
The charity’s principal activity during the year continued to be religious activities, education and training.
- Sunday worship services are held regularly every week and messages focus on teaching of the bible in a simple and practical way for worshipers.
- Wednesday Bible study services are held regularly where participants can study through a structured bible study program.
- We also hold weekly small group meetings called Impact Life Groups, to provide attendees with a platform to interact, pray and study the bible together.
- The Church continues to minister to our congregation by streaming our services live on our website and various social media platforms.
**- 4 –**
**IMPACT GOSPEL CENTRE TRUSTEES ANNUAL REPORT** _**(continued)**_
**YEAR ENDED 31[st] December 2021**
## 2. Community Outreach and Public Benefits
The charity exists for the public benefit and is successfully ministering to the needs of various social groups within and outside the church. During the year in review:
- The Church continued to provide help for the members who faced challenges by providing moral, material and financial support.
- We ministered to the communities from which we operate, sending a message of hope and encouragement to the local community.
- We ministered to the wider audience through our website, social media and TV Ministry.
- We visited those who were bereaved or facing challenges to pray and support them.
## **The coming Year**
The church looks forward to further growth spiritually, financially and socially in the coming year thus furthering the church objectives. During the New Year we plan to
- Continue the regular church activities and achievements from the previous year.
- Organise specific community outreach programmes with the aim of blessing the communities from which we operate.
- Encourage more members to serve in the Church helping to foster the vision of the church and our outreach activities.
## **Financial Review**
Please refer to the annexed account for the details of the Financial Statements for the year ended 31[st] December 2021.
**- 5 –**
**IMPACT GOSPEL CENTRE TRUSTEES ANNUAL REPORT** _**(continued)**_
## **YEAR ENDED 31[st] December 2021**
## **RESPONSIBLITIES OF THE TRUSTEES**
The trustees are responsible for preparing the Trustees Annual Report and the financial statements in accordance with applicable law and regulations.
The law requires the trustees to prepare financial statements in accordance with the United Kingdom, General Accepted Accounting Practice (United Kingdom Accounting Standard and applicable law). The financial statements are required by law to give a true and fair view of the state of affairs of the charity and of the surplus or deficit for that period.
In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- make judgements and estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which enable them to ensure that the financial statements comply the Charities Act 1993, The Charity (Accounts and Reports) Regulations 2008 and the provision of the trust deed.
The trustees 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.
Signed by order of the trustees
Name: Festus Onerhime
Approved by the trustees on 31[st] May 2022 **-6-**
## **IMPACT GOSPEL CENTRE TRUSTEES ANNUAL REPORT** _**(continued)**_
**YEAR ENDED 31[st] December 2021**
## **RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER**
The charity’s trustees consider that an audit is not required for this year (under section 43(2) of the Charities Act 1993 (the Act) and that an independent examination is needed.
## It is my responsibility to:
- examine the accounts (under section 43 of the Act);
- to follow the procedures laid down in the General Directions given by the Charity Commission (under section 43(7) (b) of the Act); and
- to state whether particular matters have come to my attention.
## **BASIS OF THE INDEPENDENT EXAMINER’S REPORT**
My examination was carried out in accordance with the General Directions given by the Charity Commissioners. 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 you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts.
## **INDEPENDENT EXAMINER’S STATEMENT**
In the course of my examination, no matter has come to my attention:
(1) which gives me reasonable cause to believe that in, any material respect, the trustees have not met the requirements to ensure that:
- proper accounting records are kept (in accordance with section 41 of the 1993 Act); and
- accounts are prepared which agree with the accounting records and comply with the accounting requirements of the Act; or
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
31[st] May 2022
P. Mensan FFA, MBA Fellow of the Institute of Financial Accountants
ABICA PHIL & CO 1 Cotleigh Road West Hampstead London NW6 2NL
**- 7 –**
## **IMPACT GOSPEL CENTRE STATEMENT OF FINANCIAL ACTIVITIES**
## **YEAR ENDED 31[st] December 2021**
|
**INCOMING RESOURCES**
Incoming resources from generated funds
Voluntary income: donations
Gift Aid
Other Income
**Total Incoming Resources**
**RESOURCES EXPENDED**
**Cost of generating funds:**
Fundraising and Publicity
**Charitable expenditure**
Governance Costs
**TOTAL RESOURCES EXPENDED**
**Net Incoming (Outgoing) Resources**
Net Movement in Funds
**Prior Year Adjustment**
Balance at 1stJanuary
Balances at 31stDecember
|**Total Funds**
**2021**2020
**Note**
Unrestricted Restricted
**2**
**148,847**
0**148,847**148,115
**25,688**0**25,688**24,769
**3**
**8,363**
0**8,363**0
**182,898**0**182,898**172,884
0
0
0 0
**4**
**140,157**
0**140,157**139,922
**5**
**40,055**
0**40,055**41,836
**180,212**
**0 180,212**176,758
**2,686**
**0 2,686** -3,874
**6**
**2,686**
0**2,686**-3,874
**0**0**0**0
**13,503**
0**13,503**17,377
**7 16,189**
**0 16,189**13,503|
|---|---|
All movements are in Unrestricted Funds
**The notes on page 8 to 13 form part of these financial statements.**
**- 8 –**
## **IMPACT GOSPEL CENTRE**
## **BALANCE SHEET YEAR ENDED 31[st] December 2021**
|
**Note**
**FIXED ASSETS**
Tangible assets
**8**
**CURRENT ASSETS**
Debtors
Cash at bank in hand**9**
**CREDITORS: Amounts falling due**
**within one year**
**10**
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT LIABILITIES**
**CREDITORS: Amounts falling due 11**
**after one year**
**NET ASSETS**
**TOTAL FUNDS**|**2021**
2020
**£ £**
£
**9,982**14,244
-
**-**
8,808 1,927
8,808
1,927
(2,601)
(2,668)
**6,207** -741
**16,189**13,503
**0**
0
**16,189**
13,503
**16,189** 13,503|
|---|---|
Audit Exemption Statement
For the year ending 31[st] December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors’ responsibilities:
- the members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476,
- the directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts
- these accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.
These financial statements were approved and signed by the director and authorised for issue on 31[st] May 2022.
Signature:___________________________ Name: Festus Onerhime
**The notes on page 8 to 13 form part of these financial statements. - 9 –**
## **IMPACT GOSPEL CENTRE**
## **NOTES TO THE FINANCIAL STATEMENTS**
**YEAR ENDED 31[st] December 2021**
## **1. ACCOUNTING POLICIES**
## **Basis of accounting**
The financial statements have been prepared under the historical cost convention and in accordance with the Statement of Recommended Practice "Accounting and Reporting by Charities" (SORP 2005).
## **Incoming Resources**
Income from tithes and offerings is included in incoming resources when these are receivable.
Investment income consists of net interest received during the year and accounted for as unrestricted.
## **Resources expended**
Resources expended are included in the Statement of Financial Activities on accrual basis, inclusive of VAT which cannot be recovered. Certain expenditure is attributable to specific activities and has been in those cost categories.
## **Depreciation**
Depreciation is calculated so as to write off the cost of an asset on a straight-line basis over the useful economic life of the asset concerned. The principal rates used for this purpose which are consistent with those of past years as follows:
|Musical Equipment
25% straight line
Fixtures & Fittings
25% straight line
Motor Vehicle
33% reducing balance
**2. VOLUNTARY INCOME: DONATIONS**
**Total Funds**
**2021**
**£**
Tithes & Offerings
**148,847**
Gift Aid
**25,688 **
**174,535**
|2020
£
148,115
24,769
172,884|
|---|---|
**-10 –**
## **IMPACT GOSPEL CENTRE**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 31[st] December 2021**
||**2021**|2020||
|---|---|---|---|
||**£**|£||
|**3. OTHER INCOME**||||
|Insurance Refund|**262**|0||
|Car sold|**8,100**|0||
||**8,362**|0||
|**4. COSTS IN FURTHERANCE OF CHARITABLE OBJECTS**||||
||**Total Funds**|||
||**2021**||2020|
||**£**||£|
|**Provision of charitable services:**||||
|Minister’s Salary|**18,500**|18,250||
|Staff Salary|**16,500**|14,900||
|Pension|**1,576**||614|
|Outreach Activities|**46,017**|55,306||
|Rent|**40,102**|35,062||
|Advertising|**0**||0|
|Business Rates|**1,254**||1,382|
|Hospitality|**308**||81|
|Guest Speakers/Psalmist|**3,625**||2,350|
|Donation|**8,225**||4,600|
|Training|**200**||293|
|Welfare|**3,850**||2,084|
||**140,157**|134,922||
No Salaries or benefits have been paid to trustees, including the members of the various departments during the year.
**- 11 -**
## **IMPACT GOSPEL CENTRE**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 31[st] December 2021**
## **5. GOVERNANCE COSTS:**
|
Utilities
Maintenance
Subscription
Insurance
Other General Expenses
Stationeries
Transport
Repairs and Renewals
Professional Fees
Telephone
Bank Charges
Accounts Fees
Depreciation
**TOTAL**|**2021**
2020
**£**£
**6,772**7,328
**0**0
**1,511**1,070
**2,764**3,873
**920**
0
**1,654**3,308
**10,563**9,963
**1,693**3,423
**600**288
**2,859**1,934
**6**
16
**1,980**1,860
**8,660** 8,773
**40,055**41,836|
|---|---|
## **6. NET MOVEMENT IN FUNDS**
The net movement in funds for the year is stated after charging depreciation on tangible fixed assets:
|Depreciation
**7.**
**FUNDS**
Unrestricted
Restricted
Funds
Funds
**£**
**£**
**At 1st January**
**13,503**
-
Prior Year Adjustment
**0**
-
Surplus / (Deficit) for the year
**2,686**
-
**At 31st December**
**16,189**
-||**2021**
**£**
**8,660**
**Total**
**2021**
**£**
**13,503**
**0**
**2,686**
**16,189**|
|
|---|---|---|---|
||
||
|
Unrestricted funds comprise those funds which the trustees are free to use in accordance with the charitable objects. Restricted funds are funds which have been given for particular purposes and projects.
**- 12 -**
## **IMPACT GOSPEL CENTRE**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 31[st] December 2021**
## **8. TANGIBLE FIXED ASSETS**
||Fixtures &|Motor|Musical|**Total**|
|---|---|---|---|---|
||Fittings|Vehicle|Equipment||
||**£**|**£**|**£**|**£**|
|**COST:**|||||
|At 1stJanuary 21|16,634|55,044|34,835|106,513|
|Additions
|**1,678**|**0**|**4,511**|**6,189**|
|Disposals
|0|**(20,250)**|0|**(20,250)**|
|**At 31st December 21**
|**18,312**|**34,794**|**39,346**|**92,452**|
|**DEPRECIATION**|||||
|At 1stJanuary 21|14,056|49,921|28,292|92,269|
|Charge for the year
|**2,376**|**1,100**|**5,184**|**8,660**|
|Disposals
|-
|**(18,459)**|**-**|**(18,459)**|
|**At 31st December 21**
|**16,432**|**32,562**|**33,476**|**82,470**|
|**NET BOOK VALUE**|||||
|**At 31st December 21**|**1,880**|**2,232**|**5,870**|**9,982**|
|At 31stDecember 20|2,578|5,123|6,543|14,244|
|**9. BANK**|||||
||||**2021**|2020|
||||£||
|Deposit/Savings|Account||**0**|0|
|Current Account|||**8,808**|1,927|
||||**8,808**|1,927|
**-13-**
## **IMPACT GOSPEL CENTRE**
**NOTES TO THE FINANCIAL STATEMENTS**
**YEAR ENDED 31[st] December 2021**
## **10. CREDITORS: Amounts falling due within one year**
|
HMRC
Pension
Salary
Accounts fees
**11.**
**CREDITORS: Amounts falling due after one year**
|**2021**2020
**£**£
**451**
218
**170**
141
**0**
449
**1,980** 1,860
**2,601**
2,668
**2021**2020
**£**£
-
**-**|
|---|---|
## **12. TAXATION**
As a charity, there is exemption from taxation on income and gains falling within section 505 of the Taxes Act 1988 or s256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
## **13. RELATED PARTY TRANSACTIONS**
No payments were made to trustees or any other persons connected with them during this financial period in their capacity as trustees. No material transaction took place between the Charity and a trustee or any person connected with them.
**-14 -**