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|Charity information|||1|
|---|---|---|---|
|Trustees'<br>annual report|||1-4|
|Statement o(trustees'||msponslhlptles|5-6|
|Independent<br>examlnef||smport|7-8|
|Funds stafements:-||||
|Stetement<br>Of finanCul|aCersrea||9|
|Lfovsmenu<br>in funds|||10|
|Income and expenditure||account|11|
|Balance shoot|||12|
|Notes to the accounts|||13-21|





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|Covenant<br>Love Chapel|Covenant<br>Love Chapel||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|Company<br>regal skon nvmbo<br>-07541137|||||||||||||
|Trustees' annual<br>report for the year ended|||20 February|||||2022|||||
|The principal oparadng<br>address,|184phons nmnber,||||email snd web addresses||||||ofthe charhy||
|are:|||||||||||||
|91 Hign Street|||||||||||||
|SimngbOume|||||||||||||
|Keiit|||||||||||||
|United<br>Kingdnm|||||||||||||
|MEI04NJ|||||||||||||
|Tsirpnonc<br>01795428975|||||||||||||
|Email address;<br>solayemi2I<br>dygm88|com||||||||||||
|Wob address<br>covenanbovechapel|org uk||||||||||||
|The registered<br>office of lhe chanty for Companies|||Act purposes|||||is lhe swno||ss the operabng|||
|address<br>shown above.|||||||||||||
|The trushms<br>in attics on fhe data|gw reptul was approved were:||||||||||||
|Mrs<br>Anlnonia<br>Juslin|||||||||||||
|Mr Olubsny<br>Olsdoye Aden ran|||||||||||||
|Mr Oladsie Oshin bosi|||||||||||||
|Mr Olukunle<br>Shonnws|||||||||||||
|Mrs. Adefolake<br>Awosey|||||||||||||
|Mrs Praise Coronado|||||||||||||
|The fofbwing<br>persorm senmd as|trustees|dwlng gm|||year ended 20February 2022:||||||||
|The trustees<br>m Ihe reponing<br>period|wore as|shown above,||||and there were no changes||||||dunng the|
|year, or in the oenod tmtween<br>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<br>of Ihe Chnsban|rehgion|workhvide||and|||||||||
|2 The relief of poverty|||||||||||||
|It pursues<br>these oblems by the opemtron<br>ol||8 Chncban||worship||||centre|al a lacildy located al||||
|Covenant<br>Love Chapel. High Street. Sitbngboume.<br>England|||||||ME|104AJ|||||
|The mein acdvhlss<br>undertaken<br>in|re4don|to those purposes||||||during the||year.|||
|Srgndrcsnt<br>ecovsres that contnbuled|lo the achievement||||or|these obfectrnrs were:|||||||
|1.Events organissd<br>dunng<br>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'<br>Dsy and Fathers' Dey celebrasons|||||||||||||
|3 Speofic sctnvties<br>for Ihe relief ol|poverty are m||lhe areas|||of Ireirung|||ard mentormg|||ofIha|
|unemployed<br>lo sterl their own buwnesles<br>and passing||||Job||rnformaten|||to lob|seekers|||





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|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<br>the general|revenue<br> purposes|funds avulablo<br>ofthe cherty|lor|316.691|275.395|
|ReetnCted<br>revenuO<br>runda||||25.885|25.885|
|Total funds||||342,576|301280|



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|||||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<br>on:||||||||
|Chiintable<br>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<br>Total funds cawiad||folrmrd<br> forward||275.395<br>~316601|25.885<br>~25|301,200<br>781 094<br>342,570301200||





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|Covenant<br>Love|Chapel<br>~Resources sppged|Chapel<br>~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<br>on fixed assets loi chsnly use repiosenls||||Ihe cost ofeodlions|less pro*asm ol||any|
|doposals||||||||



|Moveme|nts<br>in reven|nts<br>in reven|nts<br>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|





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|Income snd exp<br>Companies<br>Act|enditure<br>accou<br> 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<br>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<br>expenditure<br>oxdudlng||depreoabon|||snd xmorlissbon||89.342|72 604|
|Iieprecmbon<br>and|amorbsabon||||||6,757|5 160|
|Governance<br>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<br>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|||||||










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|~|Nel surplus<br>before tsx in the financial year|Nel surplus<br>before tsx in the financial year||||||2022<br>6||2021<br>6|
|---|---|---|---|---|---|---|---|---|---|---|
||Ths nel surnlus<br>before mx in Ihe fnancwl|ypmr a slated after charging||~|||||||
||Dnprscratwn<br>of owned<br>Ixed assets||||||6,757||5.160||
|5|Ihtsmst psliabls|||||||2022l||2021<br>E|
||Loan mle esi||||||8.716||8,850||
|6|The conlrtbudon<br>ofvolunteers||||||||||
||The charity depends<br>on Ihe support of ils volunteers.<br>«orch is much apprecinloil|||||The church<br>ix grateful||||for|
||Ihe unginrhing<br>ehnrls of xs volunleen<br>who|are involved<br>in serves provision.<br>omce «ork arid adminislralion|||||||||
||It ssxsmated<br>that over 0,200 volunteer<br>hours were provided<br>dunng 2022 The arrangements<br>with||||||||||
||volunteers<br>are ddfcult lo value cxeosely in|monetary<br>terms snd|have|nol|been recognised|||m rhe Blatameni|||
||of financial<br>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<br>truslees<br>snd key|managomonl<br>pwsonnal|||||24,000||27.988||
||Total sabtltes. wages and related cosa||||||24,MB||27,!NB||
||Thc average<br>number of full smc slaff omploysd<br>in Ins year wss|||||||I||I|
||The exrimsled eouhrafen1 number of fuff tiine slaly deployed||In df|parent<br>aclfvfdes|||fn Ihs year wasi.||||
||lnp egad on charitable<br>acliv ses||||||||||
||Ale asdfrielsd<br>Rrlf Ilrrnr eoirhratwrt<br>number ofsv staff employed as above||||||||||
|8|Remuneration<br>and paymenta<br>to Irustees|and persons connected||with Iham|||||||
||No trustees or persons connected<br>wch them received any remunarsgon||||from Ihe|chanly,||or any related|||
||Iniity||||||||||





|D|Tangible<br>liked assets|Tangible<br>liked assets|Tangible<br>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,$05||12,542|30.537|
||Nat bwk valw<br>Al 28 February|2022|||~0'7.1905.320|||4.397|400.923|
||Al 20 Febmary|2821|||~407 190|7.022||2.4DS|4D$.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$February<br>|ed 2$February<br>|2022||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|14|psnlculars<br>of how|pmucular||funds|are represented||by assets|and|Ilabdhlhs||||
||At 28 February<br>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<br>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<br>Cu~l assets||||||496.716<br>22,105||||25,885|496,716<br>47,990|
||currem<br>liabaaws||||||119,669)|||||(19,640)|
||Long term sebi)act||||||(223 757)|||||(223,757)|
||||||||27$,395||||25.8$5|301,200|
|15|Change<br>In total turids over|||Ihe year as shown||In Nota 14,analyssd|||by individual||funds||
||||||||Funds||||Transfers|Funds|
||||||||brougm||||between|can)ed|
||||||||forward||||funds<br>In|forward to|
||||||||from 2021<br>5||||2022|2023t|
||Unmsofcted<br>4rld drmlprrahnf|||hoofs|n||||||||
||unresumed<br>revenue||ronde||||275,395||41.296|||316,691|
||Total unrestricted|and designated|||funds||275,395||41~8|||316,891|
||Restricted funds:-||||||||||||
||Restncmd<br>revenue|funds|||||25,885|||||25,885|
||Total restricted<br>funds|||||~25SSS||||||26,$$S|
||Tot4) chomy luilos||||||301,2$0|~ct||6||~~see|





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|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|





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|18|Donstionc||||||Current year<br>Unrsstnctad|Currant<br>year<br>Restricted|Currant<br>year<br>Restricted|Currant year<br>Total funda|Prior year<br>Total|
|---|---|---|---|---|---|---|---|---|---|---|---|
||||||||funds||funds||funds|
||||||||2022||2022|2022|2021|
||||||||||E|E|E|
||DonsbiÃ18||||||133,626|||133,620|f06.619|
||Refunds<br>from HMRC on gift aided donabbns||||||1,194|||1,184|690|
||Total donations||||||134,022|||134,022|107,309|
|18|Invsstmenl|income|||||Current year<br>unfestflcmo|Current yesI <br>nsstncteo||Cuftonl yeaf<br>Tohd h nd|Prior year<br>Total|
||||||||hinds||funds||flIhfle|
||||||||2D22l||2022|2022<br>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<br>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<br>E||2022l|2022<br>6|2021<br>6|
||Gross wages <br>scuvlbts|8«I|sslanes||-|chsnlebls|24.000||||27,986|
||Irevel Snd suosolence<br>SCIIVOSS|||- chartable||||||2.600|6,625|
||Marketing<br>8nd sgverllsin9<br>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|