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|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|
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|---|---|---|---|---|
|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|
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|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|||
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|||||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|||||
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||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|
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|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|
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||||||||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|
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|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|
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|||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|
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||||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||
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||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|
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|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|