2023-02-28-accounts

Charity information
Trustees' Annual Report
Statement ofdbsctors'	rssponsibillaes
Independent Accountant's		Report
Funds Ststsmenrs:-
Sbasmsnt of Financial Ac5vltles			9
Movements in funds			10
Income end Expenditure	account		10
Summary offunds			10
Balance sheet			11
Notes tothe accounts			12

The financial posit	io	n ofthe charity at28 February 2023	and comparatives	forthe prior period, as
more fully detaged		ln the accounts, can be summsrlsed	as follows:-
			2023	2022
			8	8
Mst Income			36,641	41496
Unrsstrictsd Revenue		Funds svstsbls tcr
the general purposes		otthe chsriiy		318,891
rotst unmeet~	Funds			316,091
Rsrurictsd Revenue	Funds
Total strtctsd Funds				25,885
Total Funds			379,217	342576

the yeey end	ed 2	0Februa	ry 2022,ss rsg	rdred by	dya Com	panies Act200S}
			tharam year	Current	year	Carlam yaar	prior year
				Ilaaofetad		Telelfends	Total funda
			nmds	funda
			ESO	202$		so2$	&22
			E	2		e	E
Incomer
Donsticre &Lsgades			165,705			185,705	134,822
investments			8,8TT			8,577	10,041
Other			&dW3			5,963
Tatal Inaome			160,345				147,311
Expenditure on:
Charivalde scevt&es			143,704			143,704	106,015
Total eapsndaum						143,704	105,015
Nst Income for	the year						41296
Net movement	in funds						41A98
Reconci0sCon	offunds:-
Totsl funds bnmght		forward	31&AI91	2&NIS&		342,576	301,280
7ddR	I 7			7	7

				Restricted	Torsi	Last reer
		Funds		Funds	Funds	Tarsi Funds
				Sees	ease	Eoee
		E		8	8	E
Accumulstsd funds brought iorws		318,591		25,885	342.576	$81488
Recognised gains snd beeee ashes tmnefsm						41,298
		35$,332		25A55	$79417	$4A578
Closing mucous hrnds				2+86	379417	$42~576
Summary of funds				Restricted		Lmt Veer
				Funds		Total Funds
				2ase
				E
Revenue accumulated brads		353.332		25.885	$79,217	342,576
Total fllllrhr		$5$j$$2		25,885	$78417	$42,578
Covenant Love Chapel
Income and Expenditure the Cornpanlee Act 2006	Account forthe year ended 28 February 2029as					required by
					282$	2822
Income Income from~					6 162,315	8 133,828
Refunde from HMRC an gift sided donsgone					3,390	1,194
invsstrnsnt income snd Intsnnu
Income from investments, other Other opsrsihr0 Income	then	intrnset	mceivsbis		8,677 5A$3	10,041 2~
Crass Income Inthe yssr befms exoepaonni			items		tagrt45	147,$11
FXrrendmrrs
Chsdhrbte expsndEws, sxduding		prschrtlrm	snd smorihs6on		122,022	89,342
Deprscistian snd smortiestion					7,194	5,757
Gavsmsncs coeis					1,200	1,200
Iresrset payable				5	13488	8,716
Total expendltms in the year Retained surplus for the flnandsl year					143,764 ~1	~tce015 1
Ag scgvitles derive fmm con6nuing		aperstions

	Current yssr			ONce Land and equlptmsnt Bu8dln9s, fumllurs a8tamp	ONce Land and equlptmsnt Bu8dln9s, fumllurs a8tamp	Music 8 media equlptment	Total
				2	t
	Cost
	At 1 March 2022			487,198	23,323	16,939	527,460
	Addl8ons				741	1.447	2,188
	At 28 February 2023			487198	24064	18,386	529,848
	Depreciation
	At 1 March 2022				17,995	12,542	30,537
	Cruuge for the year				4,757	2,437	7,194
	At 28 February 202$				22.762	14,979	37,731
	Net book value
	At 28Febnusy 2023			487,198	1,312	3,407	491,917
	At28 February 2022			487198	57328	4,$97	496.923
7	Creditors: amounts	falling due within one year				2023	2022
						6	2
	Bank loans and overdrefls					8,394	15,175
	Accrusls					1.370	1.370
	PAYE, NlCVAT snd other faxes					191	190
	Other credltom					996	2,806
						1o,951	19,541
8	Creditors: amounts	falling due alter one year				202S	2022
							2
	Bank loans snd ovsrdrsfis					215,84S	217,457
						343343	47743I
8	Income and Expenditure		account summary			2023
	At 1 March 2022					342,576	301ASO
	Surplus after lax forthe	year				36,841	41496
	At28 February 202$					~374 77	343,373

Particulars ofhow particular fund	s are represented by ass	ets and liab	ilities
At 25 February 2023	Unassisted	slsneted	Restricted	Total
	funds	ronde	funds	funds
	f	f		f
Tangible Fixed Assets	49'I,917			491,917
Investments ctvaluation:-
Current Assets	88,209		25,885	114,094
Current LiabIIISes	(10,951)			(10,951)
Lang Term LiebiltSee	(215,843)			(215,843)
	35$$32		2S,885	379217
	Unresbtrded	Dasisnsted	Rastriated	Total
	funda f	funds f	furldef	Ferule 5
Tangible Rxsd Assets	498.923			498,923
Current Assets	56,766		25.88S	82,651
Current Liabilities	('t9,541)			(19,541)
Long Term Liabilities	(217,8I57)			(217,457)
	31663|	25,885	342,578

							Funds		Movmnent In	Ttsmders	Fends sacred
							bmucht		funds In 2023	between	fmwerd to
							forwanl fmm			funds In 2023	2024
							2022
									aee Note 12
							f		f
tfnresfrfcfsrf		and designated funda-
U restricted		Revenue		Funds			316.691		36,641		$53,332
Total unrestricted			and designated			funds	316691		3IL641		3S3,332
Total restricted funds											25,885
Total charity		funds					~383	8	~841		379 217
Analysis ofmovemsnts					ln funds over the year
										Other
							Income		xnenleum	seine a	slovement
										Losses	In funds
										2023f	2023 f
Unruetrfotluf		snd designated funda-
Llnrestrlctsd	Revenue			Funds			180,345		(143,704)		35,641
							1S383		~883,868		36,641

Donations
			Cuneet year	Cunem ysef	Cancel year	Plier Year
			Unrestricted	Resahead	Tslsl Funds	Total Funds
			Funds	Funds
Donations and	glfls hum indvlduafa
Small donagcns	Indlvldua8y	less than 61000	162,315		162,315	133,628
Refunds from HMRC on gift		aided dcnadcns	3,390		3,360	1,194
Total donations Individuals	and glhs hom		186,706		166,706	f34,822
Investment income
			CIRlwl't year	Current year	Current year	Prier Year
			Unrestricted	eslrlcled	Total Funds	Term Funds
			Funds	Fuses
Property Rental	Inccrce		8,677		8,677	10,041
Tolal investment	Income		8,677		82ffy	10,041
Olher Income	and gains
			Cunsnt year	Cancer year	Cancel year	Prhrr Year
Current year			Unmastered Funds	Reslrided Feeds	Torsi Funds	Telel Funds
Sundry other Income			6.963			2,446
Total other income					6dl63	2,448

		Cunent year	Cunent year	Cunent year	Prior year
Current year		Unreelrleted funda	neeuleted funda	Total funds	Total funda
Gross wages and selaries- charitable activities		24,332		24r632	24,000
De5ned ocntrfbution pension costs - chsdtable activitfes		1,156		1,155
Travel and Subslstsnce-
Charitable Activities		5,699		5,699
Marketing and advertising	of
charNable services
Honorarium		970		970	7,759
Pastor's allowance		6,303		8,303	8,648
Event		7291		7,291	1,500
Total direct spending		47,751		47,751	43,051

			Cunent year	Cunent year	Cunent	year	Prior year
			Unreetrteted	teetrtoted	Total funds		Total funds
			funds	funds
			202$		202$		2a22
					9		6
Grants made to individuafs			4,410		4410		7.397
Grants made to organlsations			38,283		38,28$		21,385
Tolal grantmaklng		coast
Sreakdown	ofGrants made to organlaallons
			Current year	Cunent year	Current	year
			unreeutetud	neeateled	Total hrnde
			funda	hrnde
			292$
World Evangatkal Mission (WEM)			28,926		28,926
Central Oflke (COF) Festival oflife (FOL)			7267 500		7,287 500
Region			500			600
Compassion	UK		871			671
Covenant Assembly		Church	100			100
Magdalene	Dove Mlnlaidaa		300			300
					38	283

	Volunteer costs
	Training and welfare - volunteers					979
	Premises expenses
	Rates and water charges				328	222
	Ught heat and power Premises repairs. renewals and maintenance		2,125 17,213		2.125 17,213	1,825
	Properly insurance		2,692		2,6$2
	Admlnfstratfve overheads
	Telephone, faxand internet		2,384		2,384	1,876
	Stationery and prindng		921		921	530
	CD and books		191		191	402
	Motor expenses		1.006		1,006	5,147
	Sofhvare 5cences and expenses
	Office expenses
	Equipment, repairs, expenses and	maintenance				975
	Sundry expenses		4,356			1,259
	Professional fesspaid toedvfsom other than		the auditor or	examiner
	Other legal and professional		135
	Flannelet costs
	Bank charges		217		217	34
	Loan interest		13,268		13,288	6,716
	Depreciation in total forthe period		7,194		7.194	6,757
	Total support costs - Cunsnt year		52,060		52PSB	32P72
17	Other expendihus -Governance	costs
			Cunani year	Current year	Cunnni year	Prior year
	Curent year		unrestricted funds	~atrtofad funds	Total funds	Torsi funds
				2023	2053
				5	6
	Independent Examiner"s fees		1200		1400	1,200
	Total governance costs		1,200		tI200	1200

Total	charhable	expenditure
			cummt year	Current yew	Cunent year	Poor year
			Unrestrtoted	Rsslrloled	Total tunas	Total funds
			hmds	funds
			2022	2022		2222
			2	2
Total	direct spending		47.751		47,751	4S.081
Total	grantmaking	costs	42.893		42,802	28,782
Total	support costs		52.080		02,080	S2472
Total	governance	coals	1,200		1300	1400
Total	charitable axpandnura		143,704		143,704	100,015