| Charity information | 1 | ||
|---|---|---|---|
| Trustees' annual report |
1-4 | ||
| Statement o(trustees' | msponslhlptles | 5-6 | |
| Independent examlnef |
smport | 7-8 | |
| Funds stafements:- | |||
| Stetement Of finanCul |
aCersrea | 9 | |
| Lfovsmenu in funds |
10 | ||
| Income and expenditure | account | 11 | |
| Balance shoot | 12 | ||
| Notes to the accounts | 13-21 |
| Covenant Love Chapel |
Covenant Love Chapel |
|||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Company regal skon nvmbo -07541137 |
||||||||||||
| Trustees' annual report for the year ended |
20 February | 2022 | ||||||||||
| The principal oparadng address, |
184phons nmnber, | email snd web addresses | ofthe charhy | |||||||||
| are: | ||||||||||||
| 91 Hign Street | ||||||||||||
| SimngbOume | ||||||||||||
| Keiit | ||||||||||||
| United Kingdnm |
||||||||||||
| MEI04NJ | ||||||||||||
| Tsirpnonc 01795428975 |
||||||||||||
| Email address; solayemi2I dygm88 |
com | |||||||||||
| Wob address covenanbovechapel |
org uk | |||||||||||
| The registered office of lhe chanty for Companies |
Act purposes | is lhe swno | ss the operabng | |||||||||
| address shown above. |
||||||||||||
| The trushms in attics on fhe data |
gw reptul was approved were: | |||||||||||
| Mrs Anlnonia Juslin |
||||||||||||
| Mr Olubsny Olsdoye Aden ran |
||||||||||||
| Mr Oladsie Oshin bosi | ||||||||||||
| Mr Olukunle Shonnws |
||||||||||||
| Mrs. Adefolake Awosey |
||||||||||||
| Mrs Praise Coronado | ||||||||||||
| The fofbwing persorm senmd as |
trustees | dwlng gm | year ended 20February 2022: | |||||||||
| The trustees m Ihe reponing period |
wore as | shown above, | and there were no changes | dunng the | ||||||||
| year, or in the oenod tmtween the year end |
snd the approval | ot | tne accounts | |||||||||
| ObJects and ecgvttfes ofthe charity | ||||||||||||
| The purposes ol dw shelby as sel oul in | lls governing | document | ||||||||||
| The Obf8CIS Of th8 Ch8nly 8re | ||||||||||||
| 1 The advancement of Ihe Chnsban |
rehgion | workhvide | and | |||||||||
| 2 The relief of poverty | ||||||||||||
| It pursues these oblems by the opemtron ol |
8 Chncban | worship | centre | al a lacildy located al | ||||||||
| Covenant Love Chapel. High Street. Sitbngboume. England |
ME | 104AJ | ||||||||||
| The mein acdvhlss undertaken in |
re4don | to those purposes | during the | year. | ||||||||
| Srgndrcsnt ecovsres that contnbuled |
lo the achievement | or | these obfectrnrs were: | |||||||||
| 1.Events organissd dunng the year |
to promote Ihe chnslisn | fash Indude distnbulion | ofieseets | |||||||||
| whh Christian messages. organising | deliverance | services, ag night wgrls, specrsl prayers and | ||||||||||
| cour$8llirig | ||||||||||||
| 2.other actwwes to help raise lhe profile of | the chenty | in Ihe local community | Induded | prcmcs. | ||||||||
| Mothers' Dsy and Fathers' Dey celebrasons |
||||||||||||
| 3 Speofic sctnvties for Ihe relief ol |
poverty are m | lhe areas | of Ireirung | ard mentormg | ofIha | |||||||
| unemployed lo sterl their own buwnesles and passing |
Job | rnformaten | to lob | seekers |
| The rinsncwl | position | of the chenly sl 26 February 2022 | of the chenly sl 26 February 2022 | snd ccmpsrstlves | tor the pnor psnod, as |
|---|---|---|---|---|---|
| more fully dele lsd in | the accounts, csn be summsnsed | ss follows- | |||
| 2022 | 2021 | ||||
| 6 | |||||
| Net Ihceirie | 41.296 | '9,286 | |||
| Unrsstncted the general |
revenue purposes |
funds avulablo ofthe cherty |
lor | 316.691 | 275.395 |
| ReetnCted revenuO runda |
25.885 | 25.885 | |||
| Total funds | 342,576 | 301280 |
| Cunenl year | Currem year | Curmnt year | Prior year | ||||
|---|---|---|---|---|---|---|---|
| Unmstdcted | Rastdctad | Total funds | Total | ||||
| Notes | funds | funda | funds | ||||
| 2022 | 2022 | 2022 | 2021 | ||||
| 6 | 6 | ||||||
| Income from; | |||||||
| Dnoatxrns | 18 | 134822 | 134,022 | ibr 300 | |||
| investments | 19 | 'i0,041 | 10,041 | ||||
| Other | 20 | 2.448 | 2,440 | ||||
| Total income | 147,311 | 147.311 | 107,309 | ||||
| Expenditure on: |
|||||||
| Chiintable actwaies |
24 | 106.015 | 10$.015 | 88.023 | |||
| Total expenditure | 108,015 | ~14.015 | 08.023 | ||||
| Net Income for | the | year | ~1.296 | 41306 | 19,286 | ||
| Net income after trans4rs | 41.20$ | 41,206 | 19.285 | ||||
| Nel movsmenl | in funds | ~1.206 | ~1,200 | 19.286 | |||
| Total funds bnwght Total funds cawiad |
folrmrd forward |
275.395 ~316601 |
25.885 ~25 |
301,200 781 094 342,570301200 |
| Covenant Love |
Chapel ~Resources sppged |
Chapel ~Resources sppged |
in the year | ended 28 February | 2D22 | towards | |
|---|---|---|---|---|---|---|---|
| Axed assets for | charity use: | ||||||
| 2022 | 2021 | ||||||
| 6 | 2 | ||||||
| Funds generated | n the yea as dets led in tho SOFA | 41.296 | 19,286 | ||||
| Resources applied | on funcbonsl | fixed sssels | i6.9641 | 16,250) | |||
| Net resources avagable to fund | chargable aclivkles | ~1,036 | |||||
| The resources apphed on fixed assets loi chsnly use repiosenls |
Ihe cost ofeodlions | less pro*asm ol | any | ||||
| doposals |
| Moveme | nts in reven |
nts in reven |
nts in reven |
ue an | d capit | si fun | d» for the | year ended 20 Fe | bruary 2022 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenrm | accumulated | funds | ||||||||
| Uiireslrlchul | Restricted | Total | Lest year | |||||||
| funda | fiirids | funds | Total funds | |||||||
| 2022 | 2022 | 2022 | 2021 | |||||||
| 6 | 6 | 8 | 6 | |||||||
| Accumulated | funds | brought fonvsid | 275.395 | 25.885 | 301,200 | 2$1,994 | ||||
| Recognised | gs ns and | losses | before | 41296 | 41,296 | 19,286 | ||||
| Irene lies | 316,691 | 262165 | 362576 | 301480 | ||||||
| Closing | revenue funds | 25,$0S | 342,676 | |||||||
| Summery | of funds | Unrestricted | Restricted | Total | Last year | |||||
| ~nd | tunas | funds | Total funds | |||||||
| Designated | funds | |||||||||
| 2021 | 2021 | 2021 | 2020 | |||||||
| 6 | 6 | 6 | 6 | |||||||
| Revenue | accumulated | funds | 316.691 | 25.885 | 342.576 | 301.280 |
| Income snd exp Companies Act |
enditure accou 20D6 |
nt | for the | ye | ar ended 2$Februar | y 2022 as required | by the | |
|---|---|---|---|---|---|---|---|---|
| 2021 | 2020 | |||||||
| 6 | ||||||||
| Income | ||||||||
| Income lmm operations | 133,628 | 106619 | ||||||
| Refunds from IIMRC on gift aided |
donabonb | 1,194 | 690 | |||||
| Rental income | 10,041 | |||||||
| Olnsr inccmc | 2.448 | |||||||
| Gross Income in | Ihe year Imfom excepdonal | kama | 147,311 | 107.309 | ||||
| Gross Income in | Ihe year Indudlng | exceptional | kanm | 147,311 | 107.3D9 | |||
| Expenditure | ||||||||
| Chantsolo expenditure oxdudlng |
depreoabon | snd xmorlissbon | 89.342 | 72 604 | ||||
| Iieprecmbon and |
amorbsabon | 6,757 | 5 160 | |||||
| Governance costs |
1,200 | 1,200 | ||||||
| Loan interest | 5.716 | 8.859 | ||||||
| Total sxpendkure | in the year | Iahat 5 | ||||||
| Net income before tax in Ihe Rnandal | year | 41,296 | 19,2$6 | |||||
| Tax on surplus on | ordmary scbvities |
|||||||
| Net income oker | tax tn Ihe financial | year | 41P}8 | 19,286 | ||||
| Retained surplus | for Ihe financial | year | 41.298 | 19,2$8 | ||||
| AI sctxxbex denve | from conbnuing | opeiatmns |
| ~ | Nel surplus before tsx in the financial year |
Nel surplus before tsx in the financial year |
2022 6 |
2021 6 |
||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Ths nel surnlus before mx in Ihe fnancwl |
ypmr a slated after charging | ~ | ||||||||
| Dnprscratwn of owned Ixed assets |
6,757 | 5.160 | ||||||||
| 5 | Ihtsmst psliabls | 2022l | 2021 E |
|||||||
| Loan mle esi | 8.716 | 8,850 | ||||||||
| 6 | The conlrtbudon ofvolunteers |
|||||||||
| The charity depends on Ihe support of ils volunteers. «orch is much apprecinloil |
The church ix grateful |
for | ||||||||
| Ihe unginrhing ehnrls of xs volunleen who |
are involved in serves provision. omce «ork arid adminislralion |
|||||||||
| It ssxsmated that over 0,200 volunteer hours were provided dunng 2022 The arrangements with |
||||||||||
| volunteers are ddfcult lo value cxeosely in |
monetary terms snd |
have | nol | been recognised | m rhe Blatameni | |||||
| of financial apivit as Tho voh nleers snd Ihe cherny accept and |
agree | thai no contract | of | employmenl | ir | |||||
| croaled by these arrangemsnis. | ||||||||||
| 7 | Staff coals and emoluments | |||||||||
| Sillery costs | 2022l | 2021 | ||||||||
| Gross salsrox cxdumng truslees snd key |
managomonl pwsonnal |
24,000 | 27.988 | |||||||
| Total sabtltes. wages and related cosa | 24,MB | 27,!NB | ||||||||
| Thc average number of full smc slaff omploysd in Ins year wss |
I | I | ||||||||
| The exrimsled eouhrafen1 number of fuff tiine slaly deployed | In df | parent aclfvfdes |
fn Ihs year wasi. | |||||||
| lnp egad on charitable acliv ses |
||||||||||
| Ale asdfrielsd Rrlf Ilrrnr eoirhratwrt number ofsv staff employed as above |
||||||||||
| 8 | Remuneration and paymenta to Irustees |
and persons connected | with Iham | |||||||
| No trustees or persons connected wch them received any remunarsgon |
from Ihe | chanly, | or any related | |||||||
| Iniity |
| D | Tangible liked assets |
Tangible liked assets |
Tangible liked assets |
trthce | trthce | ~snare 4 | |||
|---|---|---|---|---|---|---|---|---|---|
| Land snd | equlpunenl. | undls | |||||||
| bugdlngs | fumfture | & | egulpnlerd | Total | |||||
| E | E | E | E | ||||||
| Cost | |||||||||
| At I klsrch 2021 | 487 196 | 20.406 | 12.690 | 520496 | |||||
| Addnrohs | 2.915 | 4 049 | 6 964 | ||||||
| Al 28 February | 2022 | 487 190 | 23323 | 10030 | 527 400 | ||||
| Deprecmuon | |||||||||
| At I klerch 2021 | 13,366 | 10394 | 23 780 | ||||||
| Charge fo the year | 4,609 | 2 146 | 6 757 | ||||||
| A120 February | 2022 | 17,$05 | 12,542 | 30.537 | |||||
| Nat bwk valw Al 28 February |
2022 | ~0'7.1905.320 | 4.397 | 400.923 | |||||
| Al 20 Febmary | 2821 | ~407 190 | 7.022 | 2.4DS | 4D$.716 | ||||
| 10 | Debtors | 2022 | 2021 | ||||||
| 8 | 8 | ||||||||
| Dthsr debtors | 2 000 | ||||||||
| 11 | Crsdgors: amounts | faging dw wghln ons year | 2022 | 2021 | |||||
| 8 | E | ||||||||
| Bank loans ehd | overdrslts | 15 I'75 | 15,175 | ||||||
| Accruals | I 370 | 3.d98 | |||||||
| pAYE Nlc vAT mc slhsr lsrm | 190 | ||||||||
| Other creditors | 2606 | ||||||||
| 1$.541 | 79,669 | ||||||||
| 12 | Credgors: amounts | faglng due aber one year | 2022 | 2021 | |||||
| 5 | 8 | ||||||||
| Bshk loehS shd ovsrdlehs | 217.457 | 223.757 | |||||||
| 13 | Income snd sspsndlturs | account summary | 202l | 2021 | |||||
| 8 | 8 | ||||||||
| At 1 March 2020 | 301,260 | 281,994 | |||||||
| Surplus alter 1st | ror lhc roar | 41,296 | 19,266 | ||||||
| At 20 February | 2021 | 34l,576 | 301,280 |
| Not | es to the accounts | for Ihe y | for Ihe y | ear end | ed 2$February |
ed 2$February |
2022 | |||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 14 | psnlculars of how |
pmucular | funds | are represented | by assets | and | Ilabdhlhs | |||||
| At 28 February 2022 |
Unrestricted | Designated | Restricted | Total | ||||||||
| tends | tunds | funds | funds | |||||||||
| 6 | 6 | 5 | 6 | |||||||||
| TangiLse fixed assets | 496923 | 496.923 | ||||||||||
| currovl acseb | 56.766 | 75.685 | 82,651 | |||||||||
| Curre I lubilirme |
(19.541) | (19.541) | ||||||||||
| Lo~ term lish )i)me | (717457) | (217.457) | ||||||||||
| ~sta4$1 | 2$.SSS | 342,676 | ||||||||||
| At 1 March 2921 | Urvssumted | Designated | Restnctsd | Total | ||||||||
| funds | funds | funds | funds | |||||||||
| 4 | 8 | 6 | ||||||||||
| Tanpb)OSxed assets Cu~l assets |
496.716 22,105 |
25,885 | 496,716 47,990 |
|||||||||
| currem liabaaws |
119,669) | (19,640) | ||||||||||
| Long term sebi)act | (223 757) | (223,757) | ||||||||||
| 27$,395 | 25.8$5 | 301,200 | ||||||||||
| 15 | Change In total turids over |
Ihe year as shown | In Nota 14,analyssd | by individual | funds | |||||||
| Funds | Transfers | Funds | ||||||||||
| brougm | between | can)ed | ||||||||||
| forward | funds In |
forward to | ||||||||||
| from 2021 5 |
2022 | 2023t | ||||||||||
| Unmsofcted 4rld drmlprrahnf |
hoofs | n | ||||||||||
| unresumed revenue |
ronde | 275,395 | 41.296 | 316,691 | ||||||||
| Total unrestricted | and designated | funds | 275,395 | 41~8 | 316,891 | |||||||
| Restricted funds:- | ||||||||||||
| Restncmd revenue |
funds | 25,885 | 25,885 | |||||||||
| Total restricted funds |
~25SSS | 26,$$S | ||||||||||
| Tot4) chomy luilos | 301,2$0 | ~ct | 6 | ~~see |
| Not | es to Iha ac | counts tor t | counts tor t | he year ended 20 February 2022 | he year ended 20 February 2022 | ||||
|---|---|---|---|---|---|---|---|---|---|
| 16 | Anslysl ~ ol | movements | In funds over the year as shown | In Nota 15 | |||||
| Giber | |||||||||
| Income | Espsndlturs | gains 5 | Itovsmsnt | ||||||
| fosses | in funds | ||||||||
| 2022 | 2022 | 2022 | |||||||
| 2 | 2 | 2 | |||||||
| Unrsstrfctod | snd desfgrmtad | furlds:. | |||||||
| Unroslnclec | revenue | 'unde | 147 | 311 | l106.015) | ||||
| 147311 | ~10601$ | 41,205 |
| 18 | Donstionc | Current year Unrsstnctad |
Currant year Restricted |
Currant year Restricted |
Currant year Total funda |
Prior year Total |
|||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| funds | funds | funds | |||||||||
| 2022 | 2022 | 2022 | 2021 | ||||||||
| E | E | E | |||||||||
| DonsbiÃ18 | 133,626 | 133,620 | f06.619 | ||||||||
| Refunds from HMRC on gift aided donabbns |
1,194 | 1,184 | 690 | ||||||||
| Total donations | 134,022 | 134,022 | 107,309 | ||||||||
| 18 | Invsstmenl | income | Current year unfestflcmo |
Current yesI nsstncteo |
Cuftonl yeaf Tohd h nd |
Prior year Total |
|||||
| hinds | funds | flIhfle | |||||||||
| 2D22l | 2022 | 2022 2 |
2021l | ||||||||
| PfQcsflV Isf'lsl Iflconw | 10.041 | 10.041 | |||||||||
| Total Inveatment | inconm | ~10D41 | ~tg 041 | ||||||||
| 20 | Other income | Current year | Current | year | Current year | Prior year | |||||
| Unmstrlcted | Reeutcted | Telalfundh | Total | ||||||||
| funds | funds | funds | |||||||||
| 2022 E |
2022l | 2022l | 2021l | ||||||||
| euflctv olb8f Iflcolne | 2,446 | 2 448 | |||||||||
| Total other | inc«ns | ~2440 | ~2448 | ||||||||
| 21 | Expendhurs | on charitable | setlvhlss - Direst | spending | |||||||
| Current year | Currant | year | Current year | PIiof year | |||||||
| Unrestricted | Restricted | Total funds | Total | ||||||||
| funds | funds | funds | |||||||||
| 2022 E |
2022l | 2022 6 |
2021 6 |
||||||||
| Gross wages scuvlbts |
8«I | sslanes | - | chsnlebls | 24.000 | 27,986 | |||||
| Irevel Snd suosolence SCIIVOSS |
- chartable | 2.600 | 6,625 | ||||||||
| Marketing 8nd sgverllsin9 88fVICSS |
oi chsnlsble | 556 | 556 | 97 | |||||||
| HonorenunvGI8 | 7.'759 | 7.75D | 3.360 | ||||||||
| COF | 1.200 | 1200 | 2,972 | ||||||||
| WEM | 20.185 | 20,105 | 14,626 | ||||||||
| Donsbohs | 7,397 | 7.307 | |||||||||
| Pastor'8 allowance | 5.646 | e.ese | |||||||||
| Event | 1.500 | 1,500 | |||||||||
| Total direct | spending | 71 043 | ~yt | ~55 878 |