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2020-11-30-accounts

Kingdom Life Apostolic Chapel

Report and Financial Statements

Year ended:30 November 2020

Charity No: 1139371

Charity Registration no

1139371

Kingdom Life Apostolic Chapel

Annual Accounts

1 Dec 2019 - 30 Nov 2020

Prepared by DTT Consultancy Ltd

Kingdom Life Apostolic Chapel

Administrative Information

Financial Statement for the year ended 30 November 2020

Registered Charity Number: 1139371
Minister In Charge REV PAUL AKINPELU
Board of Trustees Pastor. Olaniyi Asefon - Chair
Mr. Johnson Adebayo
Dr Emmanuel Sunday Olawale
Mr. Olanipekun Omotoso
Registered Office: 22 STONECROP
BIRMINGHAM
B38 9QS
Independent Examiner: Tunji Ogedengbe
36 Daffodil Close
Hatfield
Herts
AL10 9FF

Kingdom Life Apostolic Chapel

TRUSTEES' REPORTS FOR THE YEAR ENDED 30 NOVEMBER 2020

The Trustees present their annual report together with the financial statements of Kingdom Life Apostolic Chapel (the charity) for the ended 30 November 2020.

The trustees confirm that the annual report and financial statements of the charity comply with the current statutory requirements, the requirements of the charity's governing document and the provisions of the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities" issued in March 2005.

STRUCTURE, GOVERNANCE AND MANAGEMENT

a. CONSTITUTION

The church is constituted under a TRUST DEED DATED 23 AUGUST 2010

b. METHOD OF APPOINTMENT OR ELECTION OF TRUSTEES

The management of the charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.

c. POLICIES ADOPTED FOR THE INDUCTION AND TRAINING OF TRUSTEES

The induction process for any newly appointed member of the Trustees comprises an initial meeting with the Chair and other Trustees, followed by a series of short meetings with the Minister in Charge on the powers and responsibilities of the Trustees.

d. ORGANISATIONAL STRUCTURE AND DECISION MAKING

The church is organised so that the trustees meet regularly to manage its affairs. The day to day administration of the church is managed by a volunteer.

e. RISK MANAGEMENT

The Trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity, and are satisfied that systems and procedures are in place to mitigate our exposure to the major risks.

f. GRANT MAKING POLICY

The church supports visiting ministers of the gospel both within and outside the United Kingdom. Support is also given to Missions worldwide

The church supports other charities and missionary that shares its objects in advancement of Christian faith and relief of poverty. The church gives occasional grants to congregational members who are in need.

Page 1

Kingdom Life Apostolic Chapel

TRUSTEES' REPORTS (continued) FOR THE YEAR ENDED 30 NOVEMBER 2020

OBJECTIVES AND ACTIVITIES

a. POLICIES AND OBJECTIVES

The objectives of the church are:

A) TO ADVANCE THE CHRISTIAN RELIGION FOR THE BENEFIT OF THE PUBLIC.

B) TO RELIEVE SICKNESS AND FINANCIAL HARDSHIP AND TO PROMOTE AND PRESERVE GOOD HEALTH BY THE PROVISION OF FUNDS, GOODS OR SERVICES OF ANY KIND AS THE TRUSTEES FROM TIME TO TIME MAY THINK FIT.

Each year our trustees review our objectives and activities to ensure they continue to reflect our aims.

In carrying out this review the trustees have considered the Charity Commission’s general guidance on public benefit and in particular its supplementary public guidance on the advancement of religion for the public benefit.

b. STRATEGIES FOR ACHIEVING OBJECTIVES

The church has adopted the following strategies for achieving the above objectives:

c. ACTIVITIES FOR ACHIEVING OBJECTIVES

The main activities of the church are as follows:

d. VOLUNTEERS

The church is grateful for the unstinting efforts of its volunteers who are involved in service provision, office work and administration.

Page 2

Kingdom Life Apostolic Chapel

TRUSTEES' REPORTS (continued) FOR THE YEAR ENDED 30 NOVEMBER 2020

ACHIEVEMENTS AND PERFORMANCE

a. REVIEW OF ACTIVITIES

We have had tremendos growth in physical and spritual life of the church during the year and in the advancement of Christian Faith in accordance with the doctrines set out in the Statement of Faith as contained in our Trust Deed.

The church undertook the following activities:

Christmas Elderly Visit

An Elderly home was visited during Christmas and Hampers were presented to the elderly.

Christmas visit to Childrens Ward

The local childrens ward was visited and gifts to all the Children in the ward was presented.

Barbeque and Sports day

Barbecue and sports day hosted for the community.

Concert

Musical Concert held for the community occasionally during the year.

Evangelisnm outreach

To inspire and teach the good news to the community.

All our activities were open to the general public as well as church members.

`

b. INVESTMENT POLICY AND PERFORMANCE

The trustees have decided that at present, funds should be retained in bank. Any change in such banking arrangements should be agreed by the board. As far as possible, funds will be retained in interest bearing accounts.

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Kingdom Life Apostolic Chapel

TRUSTEES' REPORTS (continued) FOR THE YEAR ENDED 30 NOVEMBER 2020

FINANCIAL REVIEW

a. RESERVES POLICY

Members of the church have been generous this year. However there was a fall in the church collection and our expenditure for the year. The statement of the financial activities shows a profit of £49,753 and net asset stand at £144,294.

The Trustees have established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets ('the free reserves') held by the church should be 3 months of annual expenditure. At this level, the trustees feel that they would be able to continue the current activities of the church in the event of a significant drop in funding.

b. PRINCIPAL FUNDING

This is provided mainly through voluntary tithes and offerings by the church members.

PLANS FOR THE FUTURE

a. FUTURE DEVELOPMENTS

We are praying that we will be in a position to lease a premises in the near future.

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011. They 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.

This report was approved by the Trustees on 3rd April 2021 and signed on their behalf, by:

…………………………………………………..

Pastor. Olaniyi Asefon - Chair

Page 4

Kingdom Life Apostolic Chapel REGISTERED CHARITY NUMBER: 1139371 For the year ended 30 November 2020

I report on the accounts for the year ended 30th November 2020 set out on pages four to nine. Respective responsibilities of trustees and examiner

The charity's trustees (who are also the directors for the purposes of company law) are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year (under Section 43(2) of the Charities Act 1993 (the 1993 Act)) and that an independent examination is required. The charity's gross income did not exceed £250,000 and I am qualified to undertake the examination.

Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:

Basis of the independent examiner's report

My examination was carried out in accordance with the General Directions given by the Charity Commission. 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 no opinion is given as to whether the accounts present a 'true and fair view ' and the report is limited to those matters set out in the statements below. Independent examiner's statement

In connection with my examination, no matter has come to my attention:

(1) which gives me reasonable cause to believe that, in any material respect, the requirements

(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Tunji Ogedengbe 36 Daffodil Close Hatfield Herts AL10 9FF

Date: 1st April 2021

KLAC Kingdom Life Apostolic Chapel Kingdom Life Apostolic Chapel Kingdom Life Apostolic Chapel 1139371
Annualaccountsforthe period
Period start date 1st Dec 19 To Period end
date		 31st Nov 20
Section A Statement of financial activities
Recommended
categories by activity
Details of own
analysis
Note
Incoming resources (Note 3)
Incoming resources from
generated funds
Voluntary income
S01
Activities for generating funds
S02
Investment income
S03
Incoming resources from
charitable activities
S04
Other incoming resources
S05
S06
Resources expended (Notes 4-8)
Costs of Generating Funds
Costs of generating voluntary
income
S07
Fundraising trading costs
S08
Investment management costs
S09
Charitable activities
S10
Governance costs
S11
Other resources expended
S12
S13
S14
S15
S16
S17
S18
S19
S20
S21
Total resources expended
Total incoming resources
Total funds carried forward
Total funds brought forward
Net movement in funds
Net incoming/(outgoing) resources before
transfers
Prior Year Adjustment
Gains and losses on revaluation of fixed assets
for the charity’s own use
Other recognised gains/(losses)
Net incoming/(outgoing) resources before
other recognised gains/(losses)
Gross transfers between funds		 Unrestricted
funds
Restricted
income
funds
Endowment
funds
Total this
year
Total last
year
£
£
£
£
£
F01
F02
F03
F04
F05
- - - - -
154,552 - - 154,552 186,497
- - - - -
- - - - -
- - - - -
- - - - -
154,552 - - 154,552 186,497
- - - - -
33,999 - - 33,999 30,094
- - - - -
- - - -
70,450 - - 70,450 64,170
350 - - 350 350
- - - - -
104,800 - - 104,800 94,615
49,753 - - 49,753 91,882
- - - - -
49,753 - - 49,753 91,882
- - - - -
- - -
49,753 - - 49,753 91,882
94,541 - - 94,541 2,659
144,294 - - 144,294 94,541

Page 5

Section B Balance sheet AS AT 30 NOVEMBER 2020

Fixed assets
Tangible assets (Note 9)
Investments (Note 10)
Total fixed assets
Current assets
Stock and work in progress
Debtors (Note 11)
(Short term) investments
Cash at bank and in hand
Total current assets
Creditors: amounts falling due within
one year (Note 12)
Net current assets/(liabilities)
Total assets less current liabilities
Creditors: amounts falling due after
one year (Note 13)
Provisions for liabilities and charges
Net assets
Funds of the Charity
Unrestricted funds
Restricted income funds (Note 14)
Endowment funds(Note 15)
Total funds
Signed by		 Note
B01
B02
B03
B04
B05
B06
B07
B08
B09
B10
B11
B12
B13
B14
B15
B16
B17
B18
B19
B20		 Unrestricted
funds
Restricted
income
funds
Endowment
funds
Total this year
Total last
year
£
£
£
£
£
F01
F02
F03
F04
F05		 Unrestricted
funds
Restricted
income
funds
Endowment
funds
Total this year
Total last
year
£
£
£
£
£
F01
F02
F03
F04
F05		 Unrestricted
funds
Restricted
income
funds
Endowment
funds
Total this year
Total last
year
£
£
£
£
£
F01
F02
F03
F04
F05		 Unrestricted
funds
Restricted
income
funds
Endowment
funds
Total this year
Total last
year
£
£
£
£
£
F01
F02
F03
F04
F05		 Unrestricted
funds
Restricted
income
funds
Endowment
funds
Total this year
Total last
year
£
£
£
£
£
F01
F02
F03
F04
F05
289,627 - - 289,627 -
- - - - -
- - - - -
289,627 - - 289,627 -
- - - - -
- - - - -
- - -
13,116 - - 13,116 94,891
13,116 - - 13,116 94,891
350 - - 350 350
12,766 - - 12,766 94,541
302,393 - - 302,393 94,541
158,099 - - 158,099 -
- - - - -
144,294 - - 144,294 94,541
144,294 144,294 94,541
-
- -
- -
144,294 - - 144,294 94,541
0
-
Date of
approval
Print Name
Signature
Pastor.Olaniyi Asefon -Chair 03/04/2021

Page 6

Section C Notes to the accounts

Note 1 Basis of preparation

This section should be completed by all charities .

1.1 Basis of accounting

These accounts have been prepared on the basis of historic cost (except that investments are shown at market value) in accordance with:

• and with*  Accounting Standards; or Financial Reporting Standards for Smaller Enterprises (FRSSE);

[** except for the following].

Give details in this box if a different standard has been followed.

** - If no departures from the chosen standards have been made then delete these words; otherwise give details of any changes in the boxes.

Page 7

Section C Notes to the accounts (cont)

Note 2 Accounting policies

This standard list of accounting policies has been applied by the charity except for those deleted. Where a different or additional policy has been adopted then this is detailed in the box below.

INCOMING RESOURCES

Recognition of incoming These are included in the Statement of Financial Activities (SoFA) when:
resources  the charity becomes entitled to the resources;
 the trustees are virtually certain they will receive the resources; and
 the monetary value can be measured with sufficient reliability.
Incoming resources with Where incoming resources have related expenditure (as with fundraising or contract income)
related expenditure the incoming resources and related expenditure are reported gross in the SoFA.
Grants and donations Grants and donations are only included in the SoFA when the charity has unconditional
entitlement to the resources.
Tax reclaims on donations Incoming resources from tax reclaims are included in the SoFA at the same time as the gift to
and gifts which they relate.
Contractual income and This is only included in the SoFA once the related goods or services have been delivered.
performance related grants
Gifts in kind Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the
amount actually realised.
Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or
distributed by the charity.
Gifts in kind for use by the charity are included in the SoFA as incoming resources when
receivable.
Donated services and These are only included in incoming resources (with an equivalent amount in resources
facilities expended) where the benefit to the charity is reasonably quantifiable, measurable and
material_._The value placed on these resources is the estimated value to the charity of the
service or facility received.
Volunteer help The value of any voluntary help received is not included in the accounts but is described in the
trustees’ annual report.
Investment income This is included in the accounts when receivable.
Investment gains and losses This includes any gain or loss on the sale of investments and any gain or loss resulting from
revaluing investments to market value at the end of the year.
EXPENDITURE AND LIABILITIES
Liability recognition Liabilities are recognised as soon as there is a legal or constructive obligation committing the
charity to pay out resources.
Governance costs Include costs of the preparation and examination of statutory accounts, the costs of trustee
meetings and cost of any legal advice to trustees on governance or constitutional matters.
Grants with performance Where the charity gives a grant with conditions for its payment being a specific level of service
conditions or output to be provided, such grants are only recognised in the SoFA once the recipient of the
grant has provided the specified service or output.
Grants payable without These are only recognised in the accounts when a commitment has been made and there are
performance conditions no conditions to be met relating to the grant which remain in the control of the charity.
Support Costs Support costs include central functions and have been allocated to activity cost categories on a
basis consistent with the use of resources, eg allocating property costs by floor areas, or per
capita, staff costs by the time spent and other costs by their usage.
ASSETS
Tangible fixed assets for use
These are capitalised if they can be used for more than one year, and cost at least £500. They
by charity are valued at cost or a reasonable value on receipt.
Investments Investments quoted on a recognised stock exchange are valued at market value at the year
end. Other investment assets are included at trustees' best estimate of market value.
Stocks and work in progress These are valued at the lower of cost or market value.

Page 8

Section C Notes to the accounts (cont)

Note 3 Analysis of incoming resources

Incoming resources may be further analysed if this would help the reader of the accounts.

Activities for generating funds
Investment income
Incoming resources from
charitable activities
Voluntary income		 Analysis This year
Last year
£
£		 This year
Last year
£
£
Income 103,468 167,933
Gift Aid 51,084 18,564
- -
- -
- -
Total 154,552 186,497
- -
- -
- -
- -
- -
Total - -
- -
- -
- -
- -
- -
Total - -
- -
- -
- -
- -
- -
Total - -

Page 9

Section C Notes to the accounts (cont)

Note 4 Analysis of resources expended

Fundraising trading
costs
Governance costs
Charitable activities
Investment
management costs
Costs of generating
voluntary income		 Analysis This year
Last year
£
£		 This year
Last year
£
£
Travel 1,367 3,270
Building/rent 9,300 14,470
Van/Motor Expenses 456 2,431
Honorarium - 1,900
Advert & Publicity 767 90
Youth & Children 100 -
Depreciation 1,784 -
Office expenses(inc stationery) 1,895 1,948
Telephone 889 616
Insurance 1,622 870
Office equip 6,269 247
Legal & Professional fees 7,274 2,109
HMRC 351 -
Food bank 168 -
Media 283 490
Repair 108 1,011
Bank charge 21 -
Utilities 600 -
Books & Library 415 71
Hospitality 294 457
Other 37 113
Total 33,999 30,094
- -
- -
- -
- -
- -
Total - -
- -
- -
- -
Total - -
Mission/OverseasProject 6,000 7,099
Welfare 850 -
Conference - 1,879
Donation 25 60
Grant 9,000
Fieldworker 54,575 55,132
Total 70,450 64,170
IndependentExamination 350 350
- -
- -
Total 350 350

Page 10