| Trustees | Pastor A White | Pastor A White | ||||||
|---|---|---|---|---|---|---|---|---|
| M Abbott | ||||||||
| J Ryder | ||||||||
| K Konatham | ||||||||
| A Ogbuh | ||||||||
| L Ogbuh | ||||||||
| LTaylor | ||||||||
| SNiudamu | (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 | ||||||||
| S0172NH | ||||||||
| Accountants | Knight Goodhead | Limited | ||||||
| 7 Boumemouth | Road | |||||||
| Chandler's | Ford | |||||||
| Eastleigh | ||||||||
| Hampshire | ||||||||
| 5053 3DA |
| Unrestricted | Restricted | ||||
|---|---|---|---|---|---|
| funds | funds | 2023 | 2022 | ||
| Nots | |||||
| INCOME | |||||
| Voluntary income |
355,915 | 4,050 | 359,965 | 302,755 | |
| Charitable activities |
8,000 | 8,000 | 5,493 | ||
| Government CJRSgrant |
27,815 | ||||
| Investment income |
66 | 66 | 6,935 | ||
| Other income | 13,457 | ||||
| TOTAL INCOME | 363,981 | 4,050 | 368,031 | 356,455 | |
| EXPENDITURE | |||||
| Charitable activities |
383,386 | 2,434 | 385,820 | 307,850 | |
| TOTAL EXPENDITURE | 383,386 | 2,434 | 385,820 | 307,850 | |
| NET (EXPENDITURE) I INCOME FOR YEAR | (19,405) | 1,616 | (17,789) | 48,605 | |
| FUND BALANCES AT 31 MARCH 2022 |
750,346 | 16,648 | 766,994 | 718,389 | |
| FUND BALANCES AT 31 MARCH 2023 |
730,941 | 18,264 | 749,205 | 766,994 |
| Unrestricted | Restricted | |||
|---|---|---|---|---|
| funds | funds | 2022 | ||
| Note | ||||
| INCOME | ||||
| Voluntary income |
298,644 | 4,111 | 302,755 | |
| Charitable activities |
5,493 | 5,493 | ||
| Government CJRSgrant |
27,815 | 27,815 | ||
| Investment income |
6,935 | 6,935 | ||
| Other income | 13,457 | 13,457 | ||
| TOTAL INCOME | 352,344 | 4,111 | 356,455 | |
| EXPENDITURE | ||||
| Charitable activities |
304,847 | 3,003 | 307,850 | |
| TOTAL EXPENDITURE | 304,847 | 3,003 | 307,850 | |
| NET INCOME FOR YEAR | 47,497 | 1,108 | 48,605 | |
| FUND BALANCES AT 31 MARCH 2021 |
702,849 | 15,540 | 718,389 | |
| FUND BALANCES AT 31 MARCH 2022 |
750,346 | 16,648 | 766,994 |
| BALANCE SHEET AS AT 31 MARCH 2023 | BALANCE SHEET AS AT 31 MARCH 2023 | ||||
|---|---|---|---|---|---|
| Note | 2023 | 2022 | |||
| f | |||||
| FIXEDASSETS | |||||
| Tangible assets | 558,744 | 570,712 | |||
| CURRENT ASSETS | |||||
| Debtors | 16,903 | 9,268 | |||
| Cash at bank and in hand | 191,405 | 194,789 | |||
| 208,308 | 204,057 | ||||
| CREDITORS: amounts | falling | ||||
| due within one year | (17,847) | (7,775) | |||
| NET CURRENT ASSETS | 190,461 | 196,282 | |||
| NET ASSETS | 749,205 | 466.994 | |||
| FUNDS | |||||
| Restricted funds | 9 | 18,264 | 16,648 | ||
| Designated funds |
10 | 624,251 | 619,071 | ||
| Unrestricted funds |
10 | 106,690 | 131,275 | ||
| TOTAL FUNDS | 749,205 | 766,994 |
| 2023 | 2022 | ||||
|---|---|---|---|---|---|
| Notes | 6 | f | |||
| NET CASH FLOW PROVIDED BY OPERATING ACTIVITIES | 7,600 | 73,014 | |||
| CASH FLOWS FROM INVESTING ACTIVITIES | |||||
| Interest received | 66 | 6,935 | |||
| CASH FLOWS FROM FINANCING | ACTIVITIES | ||||
| Fixed asset additions | (11,050) | (28,188) | |||
| NET CASH FLOW FOR THE YEAR | (3,384) | 51,761 | |||
| NOTES TO THE CASHFLOW | STATEMENT FOR THE YEAR ENDED 31 MARCH 2023 | ||||
| 2023 | 2022 | ||||
| 1 | NET CASH FLOW FOR THE YEAR | f | f | ||
| Change in cash and cash equivalents |
in the year | (3,384) | 51,761 | ||
| Cash and cash equivalent at start ofthe year |
194,789 | 143,028 | |||
| Cash and cash equivalents at the end |
ofthe year | 191,405 | 194,789 | ||
| 2023 | 2022 | ||||
| 2 | NET CASH FLOW PROVIDED BY OPERATING ACTIVITIES | f | |||
| Net movement in funds for the year |
(17,789) | 48,605 | |||
| Interest received | (66) | (6,935) | |||
| Depreciation | 23,018 | 21,451 | |||
| (Increase)/decrease in debtors |
(7,635) | 8,117 | |||
| Increase/(decrease) in creditors |
10,072 | 1,776 | |||
| Net cash flow from operating activities |
7,600 | 73,014 | |||
| 3 | ANALYSIS OF CASH AND CASH EQUIVALENTS | 2023 | 2022 | ||
| f | |||||
| Cash at bank and in hand | 191,405 | 194,789 |
| EXPENDITURE | |||||||
|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | ||||||
| funds | funds | 2023 | 2022 | ||||
| 6 | 8 | ||||||
| Costs directly allocated | to activities | ||||||
| Pastoral | |||||||
| -Staff costs | 137,179 | 137,179 | 115,652 | ||||
| -Guest speakers | 10,492 | 10,492 | 9,375 | ||||
| -Travel costs | 2,742 | 3,184 | 1,524 | ||||
| -Overseas travel |
8,341 | 8,341 | |||||
| - Hospitality and |
ministry | training | 25,855 | 1,449 | 27,304 | 12,542 | |
| Staff training | 1,032 | 1,032 | 15 | ||||
| Donations and pastoral |
care | 8,869 | 8,869 | 5,838 | |||
| Support for missionaries | 28,318 | 28,318 | 17,906 | ||||
| Church premises | expenses | ||||||
| - Depreciation | 21,188 | 21,188 | 18,868 | ||||
| - Utilities and insurance | 26,133 | 26,133 | 23,602 | ||||
| - Repairs | 19,683 | 19,683 | 23,952 | ||||
| Food hub | 5,814 | 5,814 | 5,460 | ||||
| Outreach work |
3,867 | 3,867 | 344 | ||||
| Youth | 3,739 | 3,739 | 4,043 | ||||
| Victory Asian Fellowship | 6,713 | 6,713 | 1,684 | ||||
| 309,965 | 1,891 | 311,856 | 240,805 | ||||
| Support costs allocated | to activities | ||||||
| Salaries | 41,341 | 41,341 | 30,997 | ||||
| Telephone, postage and stationery |
8,837 | 8,837 | 10,802 | ||||
| Office equipment | and IT | 10,687 | 543 | 11,230 | 11,821 | ||
| Advertising | 603 | 603 | 2,121 | ||||
| Bank charges and interest | 2,386 | 2,386 | 1.465 | ||||
| Depreciation | 1,830 | 1,830 | 2,583 | ||||
| Independent examination |
and accountancy | 7,737 | 7,737 | 7,256 | |||
| Legal and professional | fees | ||||||
| 73,421 | 543 | 73,964 | 67,045 | ||||
| TOTAL EXPENDITURE | 383,386 | 2,434 | 385,820 | 307,850 |
| 2023 | 2022 | |||
|---|---|---|---|---|
| E | E | |||
| Heart for | India Foundation | 8,800 | 3,000 | |
| Kings School Trust | 2,000 | 2,267 | ||
| Oasis of | Life RCCG | 1,000 | ||
| Walking | Like Jesus | 7,140 | ||
| Faithwalk | Ministry | 3,000 | ||
| 5 | STAFF COSTS | 2023 | 2022 | |
| E | 6 | |||
| Wages and salaries | 166,098 | 138,314 | ||
| Social security | 7,636 | 4,688 | ||
| Pension | 4,786 | 3,647 | ||
| 178,520 | 146,649 |
| Number | Number |
|---|---|
| 9 | 9 |
| 2023 | 2022 | |||
|---|---|---|---|---|
| E. | E | |||
| Rev | A | White | 45,569 | 44,014 |
| 6 | TANGIBLE FIXEDASSETS | TANGIBLE FIXEDASSETS | Freehold | Equipment | Fixtures & | |
|---|---|---|---|---|---|---|
| Property | PA &admin | fittings | Total | |||
| 6 | 6 | 6 | 6 | |||
| COST | ||||||
| At beginning ofperiod |
647,058 | 72,765 | 33,487 | 753,310 | ||
| Additions | 10,751 | 299 | 11,050 | |||
| At end ofperiod | 647,058 | 83,516 | 33,786 | 764,360 | ||
| DEPRECIATION | ||||||
| At beginning of period |
101,207 | 51,787 | 29,604 | 182,598 | ||
| Charge for the period | 12,941 | 9,050 | 1,027 | 23,018 | ||
| At end ofperiod | 114,148 | 60,837 | 30,631 | 205,616 | ||
| NET BOOK VALUE | ||||||
| At end ofperiod | 532,910 | 22,679 | 3,155 | 558,744 | ||
| At beginning of period |
545,851 | 20,978 | 3,883 | 570,712 | ||
| 7 | DEBTORS | 2023 | 2022 | |||
| 6 | ||||||
| Income tax recoverable | 14,487 | 7,963 | ||||
| Other debtors | 2,416 | 1,305 | ||||
| 16,903 | 9,268 | |||||
| 8 | CREDITORS; amounts | falling due within one year | 2023f | 2022 | ||
| Trade creditors | 7,917 | |||||
| Accruals and deferred | income | 4,475 | 3,804 | |||
| Other creditors | 5,455 | 3,971 | ||||
| 17,847 | 7,775 |
| Transfers | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| At beginning | Income | Expenditure | between | At end | |||||||
| ofperiod | funds | ofperiod | |||||||||
| 6 | 6 | 6 | |||||||||
| Building fund |
10,866 | 1,250 | 12,116 | ||||||||
| Faithworks | 4,103 | 2,300 | (2,434) | 3,969 | |||||||
| Spedfic donations | 1,679 | 500 | 2,179 | ||||||||
| 16,648 | 4,050 | (2,434) | 18,264 | ||||||||
| 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 spedfic small | projects and missionary work, |
||||||||
| UNRESTRICTED | FUNDS | ||||||||||
| Transfers | |||||||||||
| At beginning | Income | Expenditure | between | At end | |||||||
| of period | funds | of period | |||||||||
| 6 | 6 | 6 | 6 | 6 | |||||||
| Designaled funds: |
|||||||||||
| Capital fund | 570,712 | (23,018) | 11,050 | 558,744 | |||||||
| Victory Asian | Fellowship | 15,041 | 14,620 | (6,713) | - | 22,948 | |||||
| Missions fund | 14,703 | 29,510 | (16,431) | 27,782 | |||||||
| The Food Hub | 18,615 | 2,045 | (5,883) | 14,777 | |||||||
| 619,071 | 46,175 | (52,045) | 11,050 | 624,251 | |||||||
| Generalfunds | 131,275 | 317,806 | (331,341) | (11,050) | 106,690 | ||||||
| 750,346 | 363,981 | (383,386) | 730,941 |