for tfie year en&4131 JlorcA 2021 Company Rewration Number. (k$546595 (England and Wales) Clwiry Numkr. 1143254 Page Tn￿ree3 Repxtrt Independent Examiners Repn on the Fmancial Sta￿Ments Statement of Financial Activities 8-11 Notes to the Financial Statements 12-20 fA Mr l Adebayo Pastor Mrs Adenrele Adeyileka Pastor Amos Fenwa Revd Olumide Adeyiieka Principal 3 Herrin8harn Road Charltoll London SE7 8NI Indepenknt Fabek knociates & CA) Ltd Certified Chartered Ac¢ountants 32 Dewey Road Da8eDham RMIO 8AR Cbarity Numkn. 1143254 FOR THE YL4R ENDED 31 MARCIL xr21 The Trustee& who are also DirectOT5 of the cbarity for the purpow of the Companies Act 2LI)6, present their report with the flnanaal staternenrs of the charity for the year ended 31 March 2021. The trustees have adopted the provisions of Accounting and Rewting by Chariues: Statement of Recommended Practice applicable to ch2ritses preparing their accounts in accordance with the Financial Reporting Srandard applicable in the UK and Republic of Ireland (FRS 102) leffeaive l January 2019). The main objective of the charity is the propa84tion of the Christ's to the entire world. In the year under review. the main achieveuLents of the organisauon dutin8 the period were: l) During the accounting pericMI. we were ID the eov*a-19 pgndemic and the church was on lockdown durin8 this peri 2) In other to keep the congregation and the community we cared for. the ehariry sent out messa8es regularly to check on OUT people and EO SUPPOrt those that needed financial support and food supplies 3) Wè supp)rted. twenry people durin8 thi8 period e8pecially our elderly and non. documented membets. with cash aod fcd to sustain them throu8hout the lockdown period 4) To keep our congregation going. we *tup z(￿>M bible smdy every Saturday fmm I l..(thrn to 12noon for our children ages 5-11. We akn engaged the youth on zoorn meeting every Sunday for the teenagers from 3pm- 4pm and the young adults especially those in the university from 5pm- 6pm 51 We also started online broadca5tin8 on FacelKK>k and YouTube live, every Tue>lay evening 8pm- 9pm, 8nd Fridays 7..(WI- 8.30pm and Sundays I lam- 1.30pm 6) We faced some challenges An paying our renE salarie8 gnd bills, we therefore twk the bounce back loan to sustain us during the pandernic 7) We also got a grant 10 fund one of our projects-New Hope- from Ihe communiry fiujd. The project is aimed at SUPPt>rting people in our communiry back into employmenr in order to prevent adveThe health outcome& iDcluding men￿1 health i&sues(anxiery and depre&sion, substance abux. suicide and heart attack 8) We continue to parther with Jamore5 C7re homes and Peculi￿ Lwe homes to Provide voluntary work training and employment for people in our congregarion and communiry thxt are Seeking employment 91 We continue to sUp￿)rt Mi￿10￿an￿ helping the needy in Africa like Sho]om missions and Jesus people 10) We continue to Pro￿de office 4)ace foT busintts start ups to some of our membeTS and their busine&s is doing we]L xi: The trustees are resp)￿81bIe for prepaTing the Tnwees. Annual Report and the financial statements ill accordance with applicable law and regulations. Company law requires the tntstees to prepare financial statements For each financial year in accordance with UK Accounting Standards and appIicable law (UK Generally Accepted Accounun8 Practice). The financial statements are requir￿ by law ro give a mie and fair view of the state of affairs of the eharitable company and of the exce&8 of income over expenditure for that period. In preparing this fitianci￿ statemen¢. the uuKees are required to select suitable accthJntin8 p)lioes ¥tyd then apply them eonsistendy; make judgments and esrimates that are reasonable and pn￿en& state whether applicable UK Accounting Standards have been followed, subject to any ma*rial departures disdosed and &xplained in the ruw￿181 ststements: and Prepare the financial ststements on the going toncern basis uDlw it is inappropiiate to presume that the Charity will continue in irs ￿1vItieS. The trus¢ee8 #re responsible for keepiti8 proper accounrin8 records that digc108e with reasonable accuracy at any ume the financial position of the ehaTiEable company and enable them to ensure that its financial $tatemenrs comply with the Charities Art 201 J as amended. They have general responsibility for taking such steps as are reasongbty open to them to safeguard the assets of the charitable company and ¢0 prevent and detert fraud and other irregu]ariues. The ¢rustees who hdd office at the date of approval of this rrwees. re￿rt confirni that, so far as they are each aware. there is no relevant ioformatioa of which the awity's examiner 18 unaware. and each ttustee hgs taken all the tteps that he/8he ought to have taken a8 8 trustee to make hirn8elfl heT5elf aware of any relevant information and to estsbRi8h that the Charity's examiner is aware of that infonnation. tn line with the provision exemption in the Charities Act 2011 as amended, the trust decided to continue with the servi¢es of MT Adekunle F8wunmi of Fabek Aswciates and Co Ltd, as their indepe en ner. We rewyrt on the accounts of the Tnut for the year ended 31 M#rch. 2020. which are set ¢)ut on Pages 8 to 20. We have examined the fillan￿1 statenwits of the Holy Ghost Christian Centre Limited (the charity) foT the year ended 31 March. 2ff21 which cojllprise the StateD)ent of Financial Acuviue& the Balance SheeL the Statement of Cash Flows at)d the rela¢ed notes. including a summary of significant accounting tM)liaes. the finaDCi8] reporting framework that has been applied in cheir preparauon, its applicable law and United Kingdom Accoullfing Standard5, including Financial Repotting Srandard 102 - 'The Financial Reponing Standard applicable in the UK and Republic of Ireland. (Uni*d Wdom Generally Accepted Accounting Practice). The financial 8tatements have Eeen Prepared in accordance with Aecounung and Reponing by Chrities preparing their accoun¢s in accordance with the Financial Reporting Standards applieable in the UK and Republic of Ire]and (FRS 102) in preference ro the Accounun8 and Reporting by Charitie5: &atement of Recommended Practice issued on l April 2(N)5 which 18 TeferTed to in the extant re8ulatioDs Iwji ha8 been withdrawn. This has been done in order for the accounts ¢0 PrO￿de a ¢Ne and fair view in accordance with the Generally Acttpted Accounting Prattice effettiye for reporting peri￿19 beginning on or after I Ianuary 2015. In our opinion the financial sratements.. Give a true and fair view of the state of the chariry's affairs gs at 31 Mareh, 2021 Rnd of its incoming resources and application of resources for the year ended. Have been properly prepred in accordance with United Kingdom Generally Aceepted Accounting PTrctice' and Have been prepared in accordance with the xeqtsirements of the Charities Ac¢ 2011, The chariry's trustees are resptisible for the preparation of the accounts. The charity's trustee5 consider that an audit is not required for this year (under sertion 43(2} of the Charities Act 2011 (the 1993 Act)) and that an independent examiiution is needed. li is our resp)nsibility to: examine the accounts (under section 4313lla) of the IW3 Act). to follow the Procedur￿ laid down in the General Direcuons given by the Clwiry Cornmissioners (under Section 4317)Ib) of the IWJ Act). and To state whether matters have come to Iwjr atteouon. Our examination was carried out in accordance with the General DiTecuoDs given by the Charity Commi￿onerS. An examlj￿tIOD inchldes a review of the accounting records kept by the chariry and a comparison of the accotsnts presented with those records. It aLso incllldes consideration of any unu￿al items or in the accY)unts, and seekin8 explaDauons from you as trustees concerning any matteTh. The P￿ted￿reS underthn do not provide all the evidence that would be required in an audiL and con6wendy we do not expre&s an udit opinion on the view given by the account& In connection with ¢)ur ￿[aM]￿tiOn, no matter has come to our attenrion: (l) Which gives us reasonable cau8e to believe that ID any material respect the requirements to keep accounting records in accordance with gection 41 of the 2011 kn. and To prepare accounLq which aecord with the accounting records and comply with the accounting requirements of the 2011 Acr as amended. Have not been me¢ or {2) To which. in our opinion. a¢¢ention shou]d be drnwn in order to enable a proper understsnding of the aecounts to be reached. Thi8 report 18 made g)lely ro the chariry'$ tTUStees. as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Re8u]atioDs 2(Th. Our eXamI￿tion of the accounts has been unaertaken so that we might state to the chariry's trusreej those matters we are required to State to them in an examiner'$ report and for no other purpose. To the fullest extent permil￿1 by Idw, we do not accept or assume resporJsibi]ity to anyone other thon the chariry and its t￿￿[ee8, as a Trmxly, for the independent examiJJAtion worl or for the opinions we have fiJrnTred. Swned tknDayof2021 Fabek AS￿lateS and Co L Certified Chartered Accountants 32 Dewey Road Da8enham Essex RMIO 8AR abek As¥iJ¥4J.L.j C'.l)Arfer¢(l L.Li iilii. Dcwey K(Mil. 11.i-'i'iili.iiii. FOR THE YL4R ENDED 31 klARCEL %r21 Current yeiT yur Note• UnTr•tixted R¢¥tsKted Cuzrert ye•r PmrYe&r Tot Total 2021 2021 2021 2020 rwome & EThlowmety• frollL DorAtKI￿ & l*gac 209.907 25,101 io.thJ) 219.907 25,101 268.052 28,232 Tot•1 trome ExpeDlfrure o CIHrxabk actÈYir 265.633 i0.￿x1 275.633 283,221 Net ￿Orne for the ye•r (30.625) (30.625) 13,063 Net Ineorne aher tr•m•fv A.B 30,6 Net Jnov•we]* In .6Z5 13,06 Re¢o*Elli•Gknn 0£ hmd•: Tot•] fuThl8 bTru8ht fOrw￿d 37.907 37.907 6,122 Total fu￿1* cazzied foYw•rd prth)ryear Ua￿actO￿ weR urnt￿tea aAI w fithrarAtysA% Al Wuited Allactivit*s deiiye corrtiwrg Operat￿ HOLY GHOST CHRISllAN CENTRE IJMrrED - ReiouTee$ applied iti ¢he year ended 31 March 2021 tO*vardA fixed aJ8ets for Chrity we:_ 2021 2020 FutKis ge￿lated yearas deta&1 K)FA Resources appkd on fi￿￿￿￿fLYCd &8sets Ot￿r apPk4￿￿ of hJtd8 (30.625) (20,185) 13,063 {7,162) Net reiourcei &Ya￿ble to flltKI ch￿1t#b]e 4ctivx 50.81 Movernetts in revel￿ atsl capithl futh for thE year e￿ed 31 2021 Revenue accu1m￿ted fmm ullrestt￿ted R¢JuKted Total IA#t year Tot•1 Fund¥ 2020 2021 2021 2021 Accutmjkted hjtth b￿)￿ fo￿an1 Recogo¥ed gain% aTrl bsses Tr*fo rrarBfeL3 37.907 37.907 6.122 30.625) 7.282 (30.6251 7.282 13,063 19.185 {From)ITo y￿$￿￿ted fEveTh* futds 18.722 Ck)8iD8 Tryer￿e fttr 7.907 Sunrnwry of Ujytitskted ke8tdcted Total Llljt Year Total FuThl• De•i8r&ted £ut¥]• 2021 2021 2021 2020 ReveThr accwwh¢ed fu 7,282 7,282 37,907 HOLY GHOST CHRisfiAN CEiifRE LIMITED lttome Atsl ExpeThliture Aceouts for the year e￿I•d 31 Mareb 2021 •• required by the Comp4uk• Aot 2006 2021 2020 I￿0￿* ftom Opera￿ Investn*rt itrQD* it¢eTrst 245.008 296,284 Groi* in t]* year befoTr exceptx)J*l itel Groii iti t]* ye8r ¢z¢eptx)]Ml itemi 45. 296,284 c￿rtab￿ expetilture. deptteAtll)naryl al￿ni￿a￿￿ DeP￿tilt￿)naJd an￿rtIs2¢￿)n GoverrAr£e costs lrneTrst payab Rea]Eed knsses of sockl ￿￿tn￿tts wlrhare Progran￿* 262.177 12,E82 81M) 474 273,939 8,552 730 Total *xpefylitUTt ill the yeAT 275,633 283.221 Net before tax irtt]Y fr•￿illy￿r (30,625) 13,063 Tax onsyllpbts onordinw aetwtrs Net b*ome *heT taz ill the fina￿111 ye*r (30.6 5) .063 Retained 8Dry]ug for the year 30.625 13.063 A]tactivrEs deriye fmmcortllry OF*Trti) FOR THE YLIR ENDED 31 %)21 Notos 2021 2020 Fixed •s•ets Tangft)k assets 35.991 Current ￿l¢tI Debtors Cash at ixnk aJMI in 14txl 21.742 13,5 31,197 TotAI eu7rwx a88et• 31.197 Crediton: amounts hllin8 dtte witbin one year {15,&XI) 29.281 Nrt euTrent ulets 19,708 1,916 Ner **•er• 63,71Y2 37,907 more tlwk yegr {56,420) The totsl ne¢ u•ets of tht ehority 7.282 37,907 T￿ totsl net 988ets of the chlriry are by the foThb of the cbarity, u follo￿:. UnTe8trlcted Fu io 7.282 37.907 37.907 Des)8￿t￿ Fw 7.282 37.907 io TFe Tn￿te£S are satrftd tha¢ aklthgh dr thEry 15 regisreted Act5, rf t 15 of d* Comwkn Act 2(rf￿. appl￿?bk ro compn*s subJ'eLt to &e smallcom￿)￿ resift￿. Approved by d* b)ard of M￿fee3 on 8 OctDE*r 2021 li FOR THE YEAR ENDED 31 MARCH. 2021 The financial statements have been prepared in accordance with the charitie5 SORP (FRS 102) - Accowiting and Re￿rtIng by Cbarilles. Statement of Recommended Praetice applicable to charities prei)aTin8 their #ceounts. in accordance with tbe Financial Reportin8 Standard applicable in the UK and Republic of Ireland (FRS 1021 (effective I January 2015). the Financial Rep)ning Standard applicable in the UK and Republic of Ireland (FRS 102 and the Cbarities Act 2011. The fmancial ststements have been prepared io give a true and fair view and have departed from the Charitie5 (Accounts and Reprts) Regulations 2C08 only to the extent required to provide a and fair view. This deParn￿e involved following the Charities SORP (FRS 102) pubJi¥hed on 16 July 2014 rather than the Accounting and Reponin8 by Charities Statement of Recommended Prartice effective from l April 2cA)5 which has since been withdraw Holy Ghast Christian Centre Limi¢ed meets the definition of public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical or transaction value unless otherwise stated in the relevaThL accounting policy. There are no materi41 uncfflainties re8ardm8 the t1￿1ry.$ ability to continue. Therefore, the aeeounts are prepared on a 80in8 concern basis. IJ All income is recognised once the Chariry has entitlement to the income. It is probable that the 3ncome will be received and the amount of incolne can be measured reliably. ncome tax iecoverable in relation to investment Incon￿ is recogn￿ed at the time the investtnent incon* is receivabk. Expenditure is recognised Or￿ there is a legal or constructive obligation to transfer economic beuefit to a third pany. Et is probable that 8 transfer of economic benefits will required in settlement and the an￿lln[ of the obligation call be measured re]iably. Expenditure is ¢]assified by activity. The costs of eacb acriviry are made up of the total direct costs and shared costs. induding suprKJrt cm involved in undertaking eacb acti￿ry. Direct eosts arrributable to a single aCti￿ry are allocated dirertly to thai activiry. Shared Costs which contribute to more tban one activity atLd supp3n costs which are not attributable to a siugle acriviry are ap￿)￿l0￿ed between those activiues on a basis coosistent with the we of resources. Centrnl staff costs are all￿ared on the basis of time spent. aud depreciation charges all(vted on the ￿rtion of a￿t'S use. Ex￿ndItUre on chaTitable activities in incurred on directly ullderraking the aaivities wbich fittther the Chariry's objective& as well ￿ any a&8ociated costs. Grants payable are charged in the year when the offer is made exeept iti thc& cases where the offer is conditional. such grants being recognised as expenditllre when the eonditioll5 attaching are fulfilled. GranTS offered subiecL to conditions which have not been met at the year-end #re n￿ed as a commitment. but nor aCcrl￿a as expendiwre. All expenditure iry indusive of irrecoveTabk VAT. Interest on fijnds held on deposit is inchthd when receivable and the amount can be measured reliably by the Charity. this is normally upon notification of the interest paid or payable by the institurion with whom the fillmts are depjsited. Tangible fixed assets are initially recogDised ar cost. After recognition under the cost model, tangible fixed are measured at cost less accumulated depreciation and any accumulated impairinent losses. All costs incurred to bring a tangible fixed asset inio its intended working condition should be induded in the measurement of cost. Deprecia¢ion is charged so as 10 a]k￿re the cost of tangible fixed assets less their residual value over their estimated useful lives. Depreciauon is provided on the followi￿ basu: PLuyeiLy - no( depreciated I￿IDg tern leasehold propety - years Fixwres and Fittin89 - 10 yealy Office Equipment - 10 years Motor Vehicle - 5 years 1.7 DeTrrt(n Trade and other debtors are recogni￿ at the settlement allLount after any trdde discount offered. Prepayments are valued at the amount prepaid net of any irade discounts due. IJ C•h4t bRDkaThl ill bADd Cash at bank and in hand indlldes (2sh and short term highly liquid investments with A short matirity of three months or less from the dare of acquisiuon or opening or similar accoiinL 13 Liabiliues are recognised when there is an obligarion ar the Balance Sheet dare as a result of a past evenL it És probable that a transfer of economic benefit will be required in settlement. and the amouni of the settkment can k estimated rejiably. Liabilities are recognised ar the amount thar the (]wity anrieipated it will pay to serrle the debt or the amoulli ir has received as advanced ￿yMellts for the gcKxh or servlces it musr provide. Provisions are measured at the best e5timote of the WlOUDrs required 10 secrle obligation. Where the effect of the time is material. the provision is based on the present value of those amollnt8. discounted at the pre-tax discount rdte that rellects the risks specific to the liabiliry. The unwndin8 of the discount is recogniÈed in the Statement of Financi Acrivities as a finance COSL General funds are unrestriaed funds which are available for use at the dixretion of the Tn￿ee$ in fijrtherance of the 8ener41 objertives of the Charity and which have nor been designated for other purposes4 Designaied funds comprise unrestricted funds that have been set aside by the Trustees for panicular purposes. The aim and use of each desipted ￿lld is srf out in the notes to the financial starement& Restricted funds are funds which are to be used in accordance with specific re8UiCUOThS imposed by the donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such fijnds are charged a￿Inst the specific fund. The aim and use of each Testricted fund is set out in the notes to the financial statemenrR. Investrnent income, saitis and lorn are all(￿ted to the appropiiaie fund. 14 Current year &*llrient Ye￿c￿￿Tent Ye￿ Prior Year ULre¥uicted R¢8ttlcted Totsl To¢91 2021 2021 2021 2020 DollAtlots 8ift• fvorn IDJlvhlMh 170.912 170.912 187.489 TO¢￿ Ind 8IftB fro 170.912 170.912 187.489 CuEF•nt Y•￿ y*uc￿le￿¢ yew Prlor Year Uwertricted Re•tri¢red TOMI Tot 2021 2021 2021 2020 ReT¢Due irurt• from 80VeTlI￿nI and pttbU¢ btidi¢• Tob Relen￿nGra￿t I SFcMi Grart 5344 io,( 15.344 Totsl pllbtse r•v•m* Ir 5.344 10.000 15,344 Cwrt*nt ye*¥ ryVurre￿ ye￿current Ye￿ Prlor Y¢ UDre•trirted Reltrirted Tot Toul Fund• 2021 2021 2021 2020 HMRC Glfl HMRC Gift Atyl Cjai 33ffj51 33.651 .503 Tot•1 HMRC Glft Ald C]• 33.651 33,651 80.563 Total DO￿tIO￿. Grnnt• L¢8Ad¢s 209.907 10.000 219.907 268.052 15 Currens year Currery% year CllzreDt Trloi Y¢•y Unwtrfettd Re•triete& Tr*t Total Fund* Fund• FTLnds PryJJdi 2021 2021 2021 2020 Ot￿r 25.101 25.1111 2&232 Tot•1 fwom othtF llc¢lvltles 25.101 25.101 28.232 Dir•ct SpondiD8 Current year Currejjt yt•r Currttst yt&r Ptlor Year Unreiirleted k¢i¢ri¢ted Tot41 Total Yundi EDd• Cttrr•xt Ye•r 2021 2021 2021 2020 G￿￿￿age98nd cbardabk activtss Empksyer5' Nl . acttvtrs Trdveiand sub￿etr¢- CbaTikb]e 16257 16,257 29,294 526 1,818 1.245 1.245 855 Honourariurn 9,767 6M18 41,681 9.767 0.818 41.681 i.ooi 12.880 8.488 7.428 49.696 2,946 MedA *ry*es 12 Tot*1 dlrect •pen 90.175 90.175 100.5215 Support ¢o•ts for chath•ble iesivid•8 CllTrent year Ctttt*nT yt•T Current year PAor Year Unrqrtricied R•stzlct•d Total Toi*l FundB Fund• Cttrrent Ye•r 2021 2021 2021 202Q Employee cort*AotiDcludedin dlrecr colts Volunteer eo** VohLnre￿s c0#5 950 16 Reni payable under operdtiD8 13&648 131.498 3.131 4.996 3.024 125.772 1384 L251 682 3.131 14ht heatand power wa*e DkaDageJTreut 31124 l?82 2.179 AdminlKntlre overhead* Tekphone. faxaDI illterne¢ PoJta8e atxjnery and pnDttng Itsform?tK)n a￿￿ Pubk¥￿ Membersh4> WbK1ip￿n Equipment expen Hire of equipment SDftware ]Kewuand expenzs 4.023 Il81 loo L229 573 418 i# 382 500 Jo 1300 3,212 480 1.231 L631 Li&biky ind cononrsitiwr•rk fued assets ClltTetr Year Phtt& Motor maChi￿ry Velwles Totdl C08t Ar l Apnl 2020 AddxK) 106,547 12,550 106.547 20,185 7.635 At 31 March 2021 119,097 7,635 126,73 Depreclation At l Apnl 2020 Charge for tk year 70.556 10.655 70,556 12,182 1,527 At 31 March 2021 1,211 Net book v# At 31 Ma￿￿2021 37.886 6,108 43,994 At 31 March 2020 5,991 5,991 2021 2020 Ot]v debto 21,742 CTrditorJ: AiIKiw*8 falli4 T￿ill one year 2021 ?o?n Chkr eredto 15,6(Kl 29,281 Creditorn: fallin8 due &fter 0￿ year 2021 2020 Ba￿ harn aTrl overdftfts Film￿e ￿ase ald HP cortracr8 50.000 6.420 56,4 19 Change in tot￿ futh over tl* year As sknwn in Note 29 anaiyled by Movemett Tr#NfeE# Fuy¥l8 in furds in between canied 2021 fund8 ID forward 2021 to 2022 UllrE8trxted I￿1 de3i8wted fuTrJ•."_ UnrestrKted Revejw Fwxts {30.625) 7.282 Total uureitrnted desig￿tea fuThli 30.625 7.282 Total chartiy 30,625 7.282 Anatysi8 of movement8 in flljth over the year Other Exp¢fyli¢ur• G4ity & Mov•m•J Lo$Jei fund 2021 2021 2021 Unrnstncted de•i&￿ted hthl8."_ Urnestrrted Reve￿ Futds 265,633 30,625 11. There IB no Related Party transaction to be dix1￿ 11 There is no p)st balance sheet event to be dixlosed. 20