Divine Exchange Christian Centre Registered Charity Number: 1144013 Accounts 30 September 2021 ## **Divine Exchange Christian Centre Contents** ||**Page**| |---|---| |Charity information|1| |Trustees' report|2 to 3| |Accountants' report|4| |Statement of financial activities|5| |Balance sheet|6| |Notes to the accounts|7 to 9| ## **Divine Exchange Christian Centre Charity Information** ## **Trustees** Kelechi Ngozi Chukueke Anna Edevbie Oghenetega Akpowan ## **Accountants** Ferndale Accountants Ltd Alpha Business Centre-Suite 1 173 Otley Road Bradford West Yorkshire BD3 0HS ## **Bankers** Barclays plc NatWest ## **Charity address** 25-27 Sheepscar Street South Leeds West Yorkshire LS7 1AD 1 **Divine Exchange Christian Centre** ## **TRUSTEES' REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2021** The trustees present their report and the financial statements for the year from 01 October 2020 to 30 September 2021. Divine Exchange Christian Centre is a registered charity and is governed by a trust deed. The Pastoral work of the church is managed and coordinated by Pastorl Ovie. ## **Trustees** The trustees named on page 1 have served throughout the year except where stated The overall management of the charity is the responsibility of the trustees who are elected and co-opted under the terms of the trust deed. Board of Trustees is authorised to appoint new trustees to fill vacancies arising through resignation or death of an existing trustee. Day to Day project activity of the charity is managed and carried out by the volunteers and Pastoral leadership team. ## **Strategic Highlights** The aim of Divine Exchange Christian Centre (registered charity number 1144013) is to fulfil its divine calling, which is to respond to the gospel of God’s love in Christ and to live out its discipleship in worship and mission. It does this via its strategic objectives, which are reported to our stakeholders Establishment of the Divine Exchange Bible Institute is an opportunity to train new Pastoral students in the ministry in order to have a resource of people who will be willing to establish new churches and continue to publish the Gospel. In terms of the city of Leeds, this is achieved through evangelical events that are carried out in Leeds City Centre on a periodic basis. In the current financial year, the evangelical activities have been limited due to the restrictions of the pandemic and the national lockdown. The church is in East part of Leeds which has become a cosmopolitan community area with new migrants from Eastern Europe and East Africa. The blend of cultural differences has resulted in new opportunities to connect to other faiths that the church has never had access to. This has enhanced the vision of evangelism as one of the church objectives of working in the community. The voluntary income deriving from church giving, increased by £23k in comaprison to last year to £77k. The church has established new ways of working by transferring services to online. The church has made significant progress in publishing the Gopsel to the surrounding towns in West Yorkshire. One of the most important strategic developments has been the estbalishements of the church member base in the town of Halifax, West Yorkshire. The church now has a large number of church members who travel from Halifax to Leeds as part of the Sunday church service . During the pandemic period all services were transferred online once the locked down period initaited. During the financial year, the church increased its charitable activities in the community by enabling new programs that are detailed below; * Food parcels were provided to the those in need and out of employment; * Telephone counselling services were provided to families who faced bereavement due to Covid19 or those who were in isolation; * The childrens ministry intensified its outreach work by distributing books to familes with children with the aim on supporting home schooling; and * Provison of online church services via social media. The charity has managed to secure a new lease for premises that will enable the church to carry out a varied array of activities without the limitations. ## **Financial Highlights** In the current financial year to the end of Septemner 2021, the church managed to end the year with a net position of £8,241 (before depreciation) in its sixth year operating as a registered charity. The financial balance is s direct response to the new assurance processes to ensure efficient and effective cash management processes are in place. ## **Youth ministry** Our youth ministry has continued to evolve in reflect of the fluidity of the church membership. We have an ever-growing number of students involved in a variety of programs aimed at increasing bible knowledge and discipleship, these include Dive Deep, Middle School Friday nights, High School Community Group. As part of the transformation to new ways of providing services most of these activities were transferred to online platforms. 2 **Divine Exchange Christian Centre** ## **TRUSTEES' REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2021** ## **Volunteers** We would like to thank all the volunteers who work so hard to make our church the lively and vibrant community it is. This recognition extends to all volunteers who serve in various capacities and continue to sacrifice their time in ensuring that the gospel continue to be spread in West Yorkshire. The church has focused on developing Christian disciples who contribute to the smooth running of the church and the services in general. The number of volunteers is fluid as a correlation to the church attendance. The church has ensured that the volunteers are signed up to detailed role description to thus ensuring mitigation of any potential risks. This strategic objective includes ensuring adequate insurance cover. ## **Future Development** We intend to maintain our existing range of community activities working in partnership with the local community, to enhance this vision, the church has recruited a full-time church Pastor to drive forward the vision of the church. ## **Statement of Trustees’ responsibilities** Charity law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the charity. This responsibility is discharged and evidenced by the signature below. ## **Approval** **This report was approved by the trustees on 29 July 2022 and signed on** On behalf of the Trustees Kelechi Ngozi Chukueke ……………………………. Name 3 ## **Divine Exchange Christian Centre** ## **Accountants' report on the unaudited accounts to Divine Exchange Christian Centre** I report on the accounts of the charity for the year ended 30 September 2021, which are set out on pages 5 to 9. You have approved the accounts for the year ended 30 September 2020 which comprise the Statement of financial activities, the Balance Sheet and the related notes. In accordance with your instructions, we have compiled these unaudited accounts from the accounting records and information and explanations supplied to us. Ferndale Accountants Ltd Alpha Business Centre-Suite 1 173 Otley Road Bradford West Yorkshire BD3 0HS 29 July 2022 4 ## **Divine Exchange Christian Centre Statement of financial activities for the year ended 30 September 2021** |**Incomeing Resources**
Income-unrestricted funds
**Other income**
**Total incoming resources**
**Resources Expended**
Other direct costs
Wages, salaries and other staff costs
Car, van and travel expenses
Rent, rates, power and insurance costs
Repairs and renewals of property and equipment
Telephone, fax, stationery and other office costs
Advertising and business entertainment costs
Accountancy, legal and other professional fees
Depreciation and loss/(profit) on sale
Other business expenses
**Total resourses expended**
**Net movement in funds**
**Total funds at 1 October**
**Total funds at 30 September**|**2021**
**£**
77,405
5| |---|---| ||77,410| ||9,783
19,131
1,972
14,132
10,580
9,283
733
2,615
1,588
940| ||70,757| ||| ||6,653| ||45,573| ||52,406| 5 ## **Divine Exchange Christian Centre Balance Sheet as at 30 September 2021** |**Notes**
**Fixed assets**
Equipment, machinery and motor vehicles
3
**Current assets**
Bank/building society balances
Cash in hand
**Net current assets**
**Net assets**
**Funds**
Balance at start of period
Current Net movement in funds|44,907
261|**2021**
**£**
7,238
45,168| |---|---|---| ||45,168|| |||| |||52,406| |||45,753
6,653| |||52,406| 6 **Divine Exchange Christian Centre Notes to the Accounts for the year ended 30 September 2021** ## **1 Accounting basis** The accounts are prepared on the receipts and payments basis and include the results of the charity's operations which are described in the Trustees' report, all of which are continuing. The financial statements have been prepared in accordance with the Statement of Recommended Practice Reporting by Charities (SORP 2005) issued in March 2005, and applicable UK Accounting Standards and the Charities Act 1993. ## **2 Profit and loss account analysis** |**Income-unrestricted funds**
Voluntary givings and offerings
**Other direct costs**
Charitable donations
Church refreshments
Church Conference
**Other income**
Interest receivable
**Wages, salaries and other staff costs**
Wages and salaries
Pensions
Staff training and welfare
**Car, van and travel expenses**
Travel and subsistence
**Rent, rates, power and insurance costs**
Rent
Light and heat
Cleaning
**Repairs and renewals of property and equipment**
Repairs and maintenance|**2021**
**£**
77,405| |---|---| ||1,640
872
7,271| ||9,783| ||5| ||10,738
373
8,020| ||19,131| ||1,972| ||13,603
500
29| ||14,132| ||10,580| 7 ## **Divine Exchange Christian Centre Notes to the Accounts for the year ended 30 September 2021** |**Telephone, fax, stationery and other office costs**
Telephone and internet
Postage
Stationery and printing
Equipment expensed
Software
Other insurance costs
**Advertising and business entertainment costs**
Advertising and PR
**Accountancy, legal and other professional fees**
Accountants fees
Payroll fees
Other legal and professional
**Depreciation and loss/(profit) on sale**
Depreciation
**Other business expenses**
Subscriptions
Other expenses|1,249
360
57
6,551
475
591| |---|---| ||9,283| ||733| ||1,150
426
1,039| ||2,615| ||1,588| ||35
905| ||940| 8 ## **Divine Exchange Christian Centre Notes to the Accounts** **for the year ended 30 September 2021** ## **3 Plant, machinery and motor vehicles** |**Plant, machinery and motor vehicles**|||| |---|---|---|---| |**Cost**
At 1 October 2020
At 30 September 2021
**Depreciation**
At 1 October 2020
Charge for the year
At 30 September 2021
**Net book value**
At 30 September 2021
At 30 September 2020|**Plant and**
**machinery**
**£**
17,936
17,936
9,684
1,485
11,169
6,767
8,252|**Motor**
**vehicles**
**£**
1,246
1,246
672
103
775
471
574|**Total**
**£**
19,182| ||||19,182| ||||10,356
1,588| ||||11,944| ||||7,238| ||||8,826| - **4** Accountancy fee for the current year is £600 which is not paid yet. 9