| Trustees | Pastor A White | Pastor A White | ||||||
|---|---|---|---|---|---|---|---|---|
| M Abbott | ||||||||
| J Ryder | ||||||||
| K Konatham | ||||||||
| A Ogbuh | ||||||||
| L Ogbuh | ||||||||
| LTaylor | ||||||||
| S Niudamu | (appointed | 13October 2022) | ||||||
| LWood | (appointed | 13October 2022) | ||||||
| Company | secretary | Mrs A White | (resigned | 1 April 2022) | ||||
| Mrs J White | (appointed | 1 April 2022) | ||||||
| Charity number | 1141558 | |||||||
| Company | number | 7494182 | ||||||
| Principal | address | The Victory | Centre | |||||
| 154-156Portswood | Road | |||||||
| Southampton | ||||||||
| 60172NH | ||||||||
| Accountants | Knight Goodhead | Limited | ||||||
| 7 Bournemouth | Road | |||||||
| Chandleys | Ford | |||||||
| Eastleigh | ||||||||
| Hampshire | ||||||||
| 60533DA | ||||||||
| Bankers | HSBC | |||||||
| 55 Above BarStreet | ||||||||
| Southampton | ||||||||
| 60147DZ |
| Unrestricted | Restricted | |||||
|---|---|---|---|---|---|---|
| funds | funds | 2022 | 2021 | |||
| Note | ||||||
| INCOME | ||||||
| Voluntary income |
298,644 | 4,111 | 302,755 | 257,903 | ||
| Charitable activities |
5,493 | 5,493 | 9,449 | |||
| Government CJRS grant |
27,815 | 27,815 | 68,157 | |||
| Investment income |
6,935 | 6,935 | ||||
| Other income | 13,457 | 13,457 | ||||
| TOTAL INCOME | 352,344 | 4,111 | 356,455 | 335,515 | ||
| EXPENDITURE | ||||||
| Charitable activities |
304,847 | 3,003 | 307,850 | 276,263 | ||
| TOTAL EXPENDITURE | 304,847 | 3,003 | 307,850 | 276,263 | ||
| NET INCOME/EXPENDITURE | FOR YEAR | 47,497 | 1,108 | 48,605 | 59,252 | |
| FUND BALANCES AT 31 MARCH 2021 |
702,849 | 15,540 | 718,389 | 659,137 | ||
| FUND BALANCES AT 31 MARCH 2022 |
750,346 | 16,648 | 766,994 | 718,389 |
| Unrestricted | Restricted | |||
|---|---|---|---|---|
| funds | funds | 2021 | ||
| Note | ||||
| INCOME | ||||
| Voluntary income |
253,464 | 4,439 | 257,903 | |
| Charitable activities |
9,449 | 9,449 | ||
| Government CJRS grant |
68,157 | 68,157 | ||
| Investment income |
||||
| TOTAL INCOME | 331,076 | 4,439 | 335,515 | |
| EXPENDITURE | ||||
| Charitable activities |
267,786 | 8,477 | 276,263 | |
| TOTAL EXPENDITURE | 267,786 | 8,477 | 276,263 | |
| NET EXPENDITURE FOR YEAR | 63,290 | (4,038) | 59,252 | |
| FUND BALANCES AT 31 MARCH 2020 |
639,559 | 19,578 | 659,137 | |
| FUND BALANCES AT 31 MARCH 2021 |
702,849 | 15,540 | 718,389 |
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| Notes | |||||
| NET CASH FLOW PROVIDED BYOPERATING ACTIVITIES | 73,014 | 69,624 | |||
| CASH FLOWS FROM INVESTING ACTIVITIES | |||||
| Interest received | 6,935 | ||||
| CASH FLOWS FROM FINANCING | ACTIVITIES | ||||
| Fixed asset additions | (28,188) | (16,084) | |||
| NET CASH FLOW FOR THE YEAR | 51,761 | 53,546 | |||
| NOTES TO THE CASHFLOW | STATEMENT FOR THE YEAR ENDED 31 MARCH 2022 | ||||
| 2022 | 2021 | ||||
| 1 | NET CASH FLOW FOR THE YEAR | f | 6 | ||
| Change in cash and cash equivalents |
in the year | 51,761 | 53,546 | ||
| Cash and cash equivalent at start ofthe year |
143,028 | 89,482 | |||
| Cash and cash equivalents at the end |
ofthe year | 194,789 | 143,028 | ||
| 2022 | 2021 | ||||
| 2 | NET CASH FLOW PROVIDED BYOPERATING ACTIVITIES | ||||
| Net movement in funds for the year |
48,605 | 59,252 | |||
| Interest received | (6,935) | (6) | |||
| Depreciation | 21,451 | 19,487 | |||
| Decrease/(increase) in debtors |
8,117 | (7,460) | |||
| Increase/(decrease) in creditors |
1,776 | (1,649) | |||
| Net cash flow from operating activities |
73,014 | 69,624 | |||
| 3 | ANALYSIS OF CASH AND CASH EQUIVALENTS | 2022 | 2021 | ||
| Cash at bank and in hand |
194,789 | 143,028 |
| 3 | EXPENDITURE | |||||||
|---|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | |||||||
| funds | funds | 2022 | 2021 | |||||
| 8 | 8 | |||||||
| Costs directly allocated | toacttvlas | |||||||
| Pastoral | ||||||||
| -Staff costs | 115,652 | 115,652 | 136,446 | |||||
| - Guest speakers | 9,375 | 9,375 | ||||||
| - Travel costs | 1,524 | 1,524 | 52 | |||||
| - Hospitality and ministry |
training | 12,378 | 164 | 12,542 | 3,443 | |||
| Stafftraining | 15 | 15 | 24 | |||||
| Donations and pastoral care |
5,358 | 480 | 5,838 | 2,827 | ||||
| Support for missionaries | 17,618 | 288 | 17,906 | 19,155 | ||||
| Church premises |
expenses | |||||||
| - Depreciation | 18,868 | 18,868 | 18,149 | |||||
| - Utilities and insurance | 23,602 | 23,602 | 17,480 | |||||
| - Repairs | 23,095 | 857 | 23,952 | 11,925 | ||||
| Food hub | 5,460 | 5,460 | 50 | |||||
| Outreach work |
344 | 344 | 710 | |||||
| Youth | 4,043 | 4,043 | ||||||
| Victory Asian Fellowship | 1,684 | 1,684 | 3,980 | |||||
| 239,016 | 1,789 | 240,805 | 214,241 | |||||
| Support costs allocated | to activities | |||||||
| Salaries | 30,997 | 30,997 | 34,059 | |||||
| Telephone, postage and stationery |
10,769 | 33 | 10,802 | 8,896 | ||||
| Office equipment | and IT | 10,640 | 1,181 | 11,821 | 12,760 | |||
| Advertising | 2,121 | 2,121 | 226 | |||||
| Bank charges and | interest | 1,465 | 1,465 | 1,563 | ||||
| Depreciation | 2,583 | 2,583 | 1,338 | |||||
| Payroll processing | and furlough | support | 2,940 | 2,940 | ||||
| Independent examination |
and accountancy | 4,316 | 4,316 | 3,180 | ||||
| 65,831 | 1,214 | 67,045 | 62,022 | |||||
| TOTAL EXPENDITURE | 304,847 | 3,003 | 307,850 | 276,263 |
| 2022 | 2021 | ||
|---|---|---|---|
| 8 | 8 | ||
| Heart for India Foundation | 3,000 | 6,300 | |
| Kings School Trust | 2,267 | ||
| 5 | STAFF COSTS | 2022 | 2021 |
| 6 | 6 | ||
| Wages and salaries | 138,314 | 159,708 | |
| Social security | 4,688 | 6,413 | |
| Pension | 3,647 | 4,384 | |
| 146,649 | 170,505 |
| Number | Number |
|---|---|
| 9 | 10 |
| 2022 | 2021 | |||
|---|---|---|---|---|
| 6 | 8 | |||
| Rev | A | White | 44,014 | 44,022 |
| 6 | TANGIBLE FIXEDASSETS | TANGIBLE FIXEDASSETS | Freehold | Equipment | Fixtures 8 | |
|---|---|---|---|---|---|---|
| Property | PA &admin | fittings | Total | |||
| 8 | 8 | E | 8 | |||
| COST | ||||||
| At beginning ofperiod |
634,634 | 61,836 | 28,652 | 725,122 | ||
| Additions | 12,424 | 10,929 | 4,835 | 28,188 | ||
| At end of period | 647,058 | 72,765 | 33,487 | 753,310 | ||
| DEPRECIATION | ||||||
| At beginning of period |
88,266 | 44,306 | 28,575 | 161,147 | ||
| Charge for the period | 12,941 | 7,481 | 1,029 | 21,451 | ||
| At end of period | 101,207 | 51,787 | 29,604 | 182,598 | ||
| NET BOOK VALUE | ||||||
| At end of period | 545,851 | 20,978 | 3,883 | 570,712 | ||
| At beginning ofperiod |
546,368 | 17,530 | 77 | 563,975 | ||
| 7 | DEBTORS | 2022 | 2021 | |||
| 8 | 8 | |||||
| Income tax recoverable | 7,963 | 9,049 | ||||
| Other debtors | 1,305 | 8,336 | ||||
| 9,268 | 17,385 | |||||
| 8 | CREDITORS: amounts | falling due within one year | 2022 | 2021 | ||
| 8 | 8 | |||||
| Trade creditors | 1,065 | |||||
| Accruals and deferred | income | 3,804 | 3,934 | |||
| Other creditors | 3,971 | 1,000 | ||||
| 7,775 | 5,999 |
| Transfers | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| At beginning | Income | Expenditure | between | At end | ||||||||
| ofperiod | funds | ofperiod | ||||||||||
| g | g | 8 | 8 | |||||||||
| Building | fund | 9,365 | 2,301 | (800) | 10,866 | |||||||
| Faithworks | 4,176 | 1,650 | (1,723) | 4,103 | ||||||||
| Specific | donations | 1,999 | 160 | (480) | 1,679 | |||||||
| 15,540 | 4,111 | (3,003) | 16,648 | |||||||||
| The building | fund | represents | monies | donated specifically |
for the upkeep | of the Victory | Centre and |
towards new |
||||
| premises | for the Victory Asian | Fellowship. | ||||||||||
| Donations made to the Faithworks |
fund are used to run VGC Faithworks | Bible College. | ||||||||||
| Specific | donations | relate to amounts | given for specific small | projects and missionary work. |
||||||||
| UNRESTRICTED | FUNDS | |||||||||||
| Transfers | ||||||||||||
| At beginning | Income | Expenditure | between | At end | ||||||||
| of period | funds | ofperiod | ||||||||||
| 6 | 6 | 8 | ||||||||||
| Designated funds: |
||||||||||||
| Capital fund | 563,975 | (21,451) | 28,188 | 570,712 | ||||||||
| Victory Asian | Fellowship | 13,211 | 5,004 | (3,174) | - | 15,041 | ||||||
| Missions | fund | 15,846 | 15,631 | (16,774) | 14,703 | |||||||
| The Food Hub | 18,984 | 4,760 | (5,129) | 18,615 | ||||||||
| 612,016 | 25,395 | (46,528) | 28,188 | 619,071 | ||||||||
| General | funds | 90,833 | 326,949 | (258,319) | (28,188) | 131,275 | ||||||
| 702,849 | 352,344 | (304,847) | 750,346 |
| ANALYSIS OF NET ASSETS BYFUND | ANALYSIS OF NET ASSETS BYFUND | |||
|---|---|---|---|---|
| Restricted | Unrestricted | 2022 | ||
| At 31 March 2022 | funds | funds | Total | |
| 6 | 2 | |||
| Tangible | assets | 570,712 | 570,712 | |
| Current | assets | 16,648 | 187,409 | 204,057 |
| Current | liabilities | (7,775) | (7,775) | |
| 16,648 | 750,346 | 766,994 | ||
| Restricted | Unrestricted | 2021 | ||
| At 31 March 2021 | funds | funds | Total | |
| 6 | f | 6 | ||
| Tangible | assets | 563,975 | 563,975 | |
| Current | assets | 15,540 | 144,873 | 160,413 |
| Current | liabilities | (5,999) | (5,999) | |
| 15,540 | 702,849 | 718,389 |
| 2022 | 2021 | |
|---|---|---|
| g | f. | |
| Within one year | 1,523 | 2,661 |
| Between 2 and 5years | 314 | 1,255 |
| 1,837 | 3,916 |
| RESTRI | CTED FUNDS | |||||
|---|---|---|---|---|---|---|
| Transfers | ||||||
| At beginning | Income | Expenditure | between | At end | ||
| ofperiod | funds | ofperiod | ||||
| 8 | 8 | E | ||||
| Building | fund | 7,065 | 2,300 | 9,365 | ||
| Faiihworks | 4,176 | 4,176 | ||||
| Specific | donations | 4,334 | 2,139 | (4,474) | 1,999 | |
| Highway | Ministries | 4,003 | (4,003) | |||
| 19,578 | 4,439 | (8,477) | 15,540 | |||
| UNRESTRICTED FUNDS | ||||||
| Transfers | ||||||
| At beginning | Income | Expenditure | between | At end | ||
| ofperiod | funds | ofpenod | ||||
| 8 | 8 | 8 | ||||
| Designated funds: |
||||||
| Capital fund | 567,377 | (19,487) | 16,085 | 563,975 | ||
| Victory Asian Fellowship | 8,777 | 8,414 | (3,980) | - | 13,211 | |
| Missions | fund | 13,930 | 21,028 | (19,112) | 15,846 | |
| The Food Hub | 18,631 | 2,529 | (2,176) | 18,984 | ||
| 608,715 | 31,971 | (44,755) | 16,085 | 612,016 | ||
| General | funds | 30,844 | 299,105 | (223,031) | (16,085) | 90,833 |
| 639,559 | 331,076 | (267,786) | 702,849 |