REGISTERED COMPANY NUMBER: 07589687 (England and Wales) REGISTERED CHARITY NUMBER: 1143970
Report of the Trustees and Unaudited Financial Statements for the Year Ended 30 April 2021
for
The Philadelphia Mission for Christ
Harvine Consultants Ltd Square Root Business Centre 102 - 116 Windmill Road Croydon Surrey CR0 2XQ
The Philadelphia Mission for Christ
Contents of the Financial Statements for the Year Ended 30 April 2021
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | ||
| Independent Examiner's Report | 2 | ||
| Statement of Financial Activities | 3 | ||
| Balance Sheet | 4 | ||
| Notes to the Financial Statements | 5 | to | 9 |
| Detailed Statement of Financial Activities | 10 |
The Philadelphia Mission for Christ
Report of the Trustees
for the Year Ended 30 April 2021
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30 April 2021. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
07589687 (England and Wales)
Registered Charity number 1143970
Registered office
49 Pampisford Road Purley Surrey CR8 2NJ
Trustees
H Martindale M B Ephraim Ms A Turay Ms L Amara
Independent Examiner
Harvine Consultants Limited Chartered Association of Certified Accountants Harvine Consultants Ltd Square Root Business Centre 102 - 116 Windmill Road Croydon Surrey CR0 2XQ
Approved by order of the board of trustees on 8 July 2022 and signed on its behalf by:
Bockarie Musa
Bockarie Musa (Feb 9, 2022 18:24 GMT)
M B Ephraim - Trustee
Page 1
Independent Examiner's Report to the Trustees of The Philadelphia Mission for Christ
Independent examiner's report to the trustees of The Philadelphia Mission for Christ ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 April 2021.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Harvine Consultants
Harvine Consultants (Feb 9, 2022 18:42 GMT)
Harvine Consultants Limited Chartered Association of Certified Accountants Harvine Consultants Ltd Square Root Business Centre 102 - 116 Windmill Road Croydon Surrey CR0 2XQ
8 July 2022
Page 2
The Philadelphia Mission for Christ
Statement of Financial Activities
for the Year Ended 30 April 2021
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 40,422 Investment income 2 - Total 40,422 EXPENDITURE ON Charitable activities International missions 780 Welfare ministry/care fund 5,494 Local ministry 640 Other charitable payments 480 Other 107 Total 7,501 NET INCOME 32,921 Transfers between funds 8 (25,000) Net movement in funds 7,921 RECONCILIATION OF FUNDS Total funds brought forward (2,670) TOTAL FUNDS CARRIED FORWARD 5,251 |
Restricted fund £ 260 28 288 - - - - - - 288 25,000 25,288 80,993 106,281 |
30.4.21 Total funds £ 40,682 28 40,710 780 5,494 640 480 107 7,501 33,209 - 33,209 78,323 111,532 |
30.4.20 Total funds £ 23,981 142 |
|---|---|---|---|
| 24,123 - - - 23,286 - |
|||
| 23,286 | |||
| 837 - |
|||
| 837 77,486 |
|||
| 78,323 |
The notes form part of these financial statements
Page 3
The Philadelphia Mission for Christ
Balance Sheet
30 April 2021
| Unrestricted fund Notes £ CURRENT ASSETS Cash at bank 5,732 CREDITORS Amounts falling due within one year 6 (481) NET CURRENT ASSETS 5,251 TOTAL ASSETS LESS CURRENT LIABILITIES 5,251 NET ASSETS 5,251 FUNDS 8 Unrestricted funds Restricted funds TOTAL FUNDS |
Restricted fund £ 106,281 - 106,281 106,281 106,281 |
30.4.21 Total funds £ 112,013 (481) 111,532 111,532 111,532 5,251 106,281 111,532 |
30.4.20 Total funds £ 80,993 (2,670) 78,323 78,323 78,323 (2,670) 80,993 78,323 |
|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2021.
The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2021 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 8 July 2022 and were signed on its behalf by:
Bockarie Musa
Bockarie Musa (Feb 9, 2022 18:24 GMT)
M B Ephraim - Trustee
The notes form part of these financial statements
Page 4
The Philadelphia Mission for Christ
Notes to the Financial Statements for the Year Ended 30 April 2021
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
| Fixtures and fittings | - 25% on cost |
|---|---|
| Computer equipment | - 25% on cost |
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. INVESTMENT INCOME
| 30.4.21 | 30.4.20 | |
|---|---|---|
| £ | £ | |
| Deposit account interest | 28 | 142 |
Page 5
continued...
The Philadelphia Mission for Christ
Notes to the Financial Statements - continued for the Year Ended 30 April 2021
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 30 April 2021 nor for the year ended 30 April 2020.
Trustees' expenses
There were no trustees' expenses paid for the year ended 30 April 2021 nor for the year ended 30 April 2020.
4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | Unrestricted | Restricted | Restricted | Restricted | Total | ||
|---|---|---|---|---|---|---|---|
| fund | fund | funds | |||||
| £ | £ | £ | |||||
| INCOME AND ENDOWMENTS FROM | |||||||
| Donations and legacies | 23,981 | - | 23,981 | ||||
| Investment income | - | 142 | 142 | ||||
| Total | 23,981 | 142 | 24,123 | ||||
| EXPENDITURE ON | |||||||
| Charitable activities | |||||||
| Other charitable payments | 23,287 | (1) | 23,286 | ||||
| NET INCOME | 694 | 143 | 837 | ||||
| RECONCILIATION OF FUNDS | |||||||
| Total funds brought forward | (3,364) | 80,850 | 77,486 | ||||
| TOTAL FUNDS CARRIED FORWARD | (2,670) | 80,993 | 78,323 | ||||
| 5. | TANGIBLE FIXED ASSETS | ||||||
| Fixtures | |||||||
| and | Computer | ||||||
| fittings | equipment | Totals | |||||
| £ | £ | £ | |||||
| COST | |||||||
| At 1 May 2020 and 30 April 2021 | 1,125 | 1,899 | 3,024 | ||||
| DEPRECIATION | |||||||
| At 1 May 2020 and 30 April 2021 | 1,125 | 1,899 | 3,024 | ||||
| NET BOOK VALUE | |||||||
| At 30 April 2021 | - | - | - | ||||
| At 30 April 2020 | - | - | - |
Page 6
continued...
The Philadelphia Mission for Christ
Notes to the Financial Statements - continued for the Year Ended 30 April 2021
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE | YEAR | ||||
|---|---|---|---|---|---|---|---|
| 30.4.21 | 30.4.20 | ||||||
| £ | £ | ||||||
| Bank loans and overdrafts (see note 7) | - | 2,150 | |||||
| Trade creditors | 1 | - | |||||
| Accrued expenses | 480 | 520 | |||||
| 481 | 2,670 | ||||||
| 7. | LOANS | ||||||
| An analysis of the maturity of loans is given below: | |||||||
| 30.4.21 | 30.4.20 | ||||||
| £ | £ | ||||||
| Amounts falling due within one year on demand: | |||||||
| Bank overdrafts | - | 2,150 | |||||
| 8. | MOVEMENT IN FUNDS | ||||||
| Net | Transfers | ||||||
| movement | between | At | |||||
| At 1.5.20 | in | funds | funds | 30.4.21 | |||
| £ | £ | £ | £ | ||||
| Unrestricted funds | |||||||
| General fund | (2,670) | 32,921 | (25,000) | 5,251 | |||
| Restricted funds | |||||||
| Building Fund | 80,993 | 288 | 25,000 | 106,281 | |||
| TOTAL FUNDS | 78,323 | 33,209 | - | 111,532 | |||
| Net movement in funds, included in the above are as follows: | |||||||
| Incoming | Resources | Movement | |||||
| resources | expended | in funds | |||||
| £ | £ | £ | |||||
| Unrestricted funds | |||||||
| General fund | 40,422 | (7,501) | 32,921 | ||||
| Restricted funds | |||||||
| Building Fund | 288 | - | 288 | ||||
| TOTAL FUNDS | 40,710 | (7,501) | 33,209 |
continued...
Page 7
The Philadelphia Mission for Christ
Notes to the Financial Statements - continued for the Year Ended 30 April 2021
8. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Net | ||||||
|---|---|---|---|---|---|---|
| movement | At | |||||
| At 1.5.19 | in funds | 30.4.20 | ||||
| £ | £ | £ | ||||
| Unrestricted funds | ||||||
| General fund | (3,364) | 694 | (2,670) | |||
| Restricted funds | ||||||
| Building Fund | 80,850 | 143 | 80,993 | |||
| TOTAL FUNDS | 77,486 | 837 | 78,323 | |||
| Comparative net movement in funds, included in the above are as follows: | ||||||
| Incoming | Resources | Movement | ||||
| resources | expended | in funds | ||||
| £ | £ | £ | ||||
| Unrestricted funds | ||||||
| General fund | 23,981 | (23,287) | 694 | |||
| Restricted funds | ||||||
| Building Fund | 142 | 1 | 143 | |||
| TOTAL FUNDS | 24,123 | (23,286) | 837 | |||
| A current year 12 months and prior year 12 months combined position is as follows: | ||||||
| Net | Transfers | |||||
| movement | between | At | ||||
| At 1.5.19 | in funds | funds | 30.4.21 | |||
| £ | £ | £ | £ | |||
| Unrestricted funds | ||||||
| General fund | (3,364) | 33,615 | (25,000) | 5,251 | ||
| Restricted funds | ||||||
| Building Fund | 80,850 | 431 | 25,000 | 106,281 | ||
| TOTAL FUNDS | 77,486 | 34,046 | - | 111,532 |
continued...
Page 8
The Philadelphia Mission for Christ
Notes to the Financial Statements - continued for the Year Ended 30 April 2021
8. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 64,403 | (30,788) | 33,615 |
| Restricted funds | |||
| Building Fund | 430 | 1 | 431 |
| TOTAL FUNDS | 64,833 | (30,787) | 34,046 |
9. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 30 April 2021.
Page 9
The Philadelphia Mission for Christ
| Detailed Statement of Financial Activities | ||
|---|---|---|
| for the Year Ended 30 April 2021 | ||
| 30.4.21 | 30.4.20 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| & other voluntary receipts | 39,532 | 23,596 |
| Other voluntary receipts | 1,150 | 385 |
| 40,682 | 23,981 | |
| Investment income | ||
| Deposit account interest | 28 | 142 |
| Total incoming resources | 40,710 | 24,123 |
| EXPENDITURE | ||
| Charitable activities | ||
| Evangelism and missions | 550 | - |
| Welfare ministry | 5,644 | 11,316 |
| Rent | - | 7,977 |
| Administration expenses | - | 916 |
| Pastoral ministry | - | 2,210 |
| Sundries | - | 150 |
| Praise and worship ministry | 720 | - |
| 6,914 | 22,569 | |
| Support costs | ||
| Finance | ||
| Bank charges | 107 | 237 |
| Governance costs | ||
| Accountancy and legal fees | 480 | 480 |
| Total resources expended | 7,501 | 23,286 |
| Net income | 33,209 | 837 |
This page does not form part of the statutory financial statements
Page 10