## **Love Temple Christian Church (LTCC)** ## **Statement of Financial Activities Ending on 30 June 2021** ## **LOVE TEMPLE CHRISTIAN CHURCH (LTCC)** ## **FINANCIAL STATEMENT AS AT 30 JUNE 2021** 1 **Love Temple Christian Church (LTCC) with Charity Registration: 1146397** _**Accounts prepared and certified by: PMCT Chartered and Certified Accountants**_ ## **Love Temple Christian Church (LTCC)** ## **Statement of Financial Activities Ending on 30 June 2021** ## **Contents** |1. Trustees Report .................................................................................................3|1. Trustees Report .................................................................................................3| |---|---| |1.1|Source of Financing and allocation of funding ............................................3| |2. Accountants' Independent Report ......................................................................4|| |3. LTCC Annual Report for the Year Ended 30 June 2021 ....................................5|| |3.1|Scope of Operation and Undertaken Activities ............................................5| |3.2|Income and Expenditure Summary as of 30 June 2021................................5| |3.3|Statement of Position (Balance Sheet) as of 30 June 2021 ...........................6| |4. Notes to the accounts: Year ended 30 June 2021 ...............................................7|| |4.1|Accounting Policies .....................................................................................7| |4.2|Performance – Detailed Income and Expense Statement .............................8| |4.3|Trustees Commitment .................................................................................9| 2 **Love Temple Christian Church (LTCC) with Charity Registration: 1146397** _**Accounts prepared and certified by: PMCT Chartered and Certified Accountants**_ ## **Love Temple Christian Church (LTCC)** ## **Statement of Financial Activities Ending on 30 June 2021** ## **1. Trustees Report** The Trustees present their report and accounts for accounting year ending on 30 June 2021. The trustees report that the financial at year end 30 June 2021 brought growth and expansion of our services to the community and members. ## **Principal activity:** The trust core activity is Christ Centred Church undertakings and secondly activities are services to humanity and general local community. During the year prayers and teaching conferences were organised on a regular basis and attendance to these conferences were very good. We also provided training seminars for teachers and volunteers of our Sunday schools. We are ever prepared to expand scope of consideration, offer training and education to volunteers where needed, however our objectives are constraint by financial resources available. We met all planned objectives and operations especially maintaining and increasing our membership numbers. There was general covid-19 epidemic and mandatory lockdown from last week of March 2020 to June 2020. Church services was organised differently as physical meetings was not allowed and spread of diseases meant services transferred to online and various social medias. During same period of lockdown cash contributions from members was used to support members welfare and committed payments to service providers including rented places for services did accumulate. ## **1.1 Source of Financing and allocation of funding** The level of the finances for the year ended 30 June 2021 was stable. The income level was not too different from projected income and for this very reason we would like to express our sincere gratitude to Love Temple Christian Church (LTCC) members for their generous donations and contributions which has mainly been sole funding of our programmes. We received donations of £20,815.00 from members, thus decrease of £4,034.00 from previous year. LTCC rental cost from various premises for periodic events and weekly services was maintained and part of deposited advances with landlords used to reduced accumulated rent payment due. Subject to availability of financial resources, present youth and anti-gang programmes would continue as part of our overall community committee. In conclusion, it was a very successful year, and we give glory to God. ## Signed: MarkAbban Mark Abban _Chairman of the Trustees_ _For and on behalf of Trustees and Members of Love Temple Christian Church (LTCC) Date:_ 21 November 2022 3 **Love Temple Christian Church (LTCC) with Charity Registration: 1146397** _**Accounts prepared and certified by: PMCT Chartered and Certified Accountants**_ ## **Love Temple Christian Church (LTCC)** ## **Statement of Financial Activities Ending on 30 June 2021** ## **2. Accountants' Independent Report** As Accountants we report on the unaudited accounts to the Trustees of Love Temple Christian Church. It is our view to state the basis of the procedures specified in the General Directions given by the Charity Commissioners under section 43 (7) (b) of the Act, whether matters have come to our attention. ## **Respective responsibilities of trustees and examiner** As described on the balance sheet the Trustees of Love Temple Christian Church are responsible for the preparation of the accounts for the year ended 30 June 2021, set out on pages below and the Trustees consider that the church is exempt from an audit requirement of section 43 (2) of the Charities Act1993 (the Act). In accordance with Trustees of Love Temple Christian Church instructions, we have compiled these unaudited accounts to assist Trustees of Love Temple Christian Church to fulfil its statutory responsibilities, from the accounting records, information and explanations made available to us including incomplete records leading to extensive reconciliations to derive prudent and reasonable amounts. ## **Basis of independent examiner's report** Our examination was carried out in accordance with the General Direction given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as trustees on any such matters. The procedures undertaken do not provide all the evidence that would be required by an audit, and consequently, we do not express an audit opinion on the view given by the accounts. ## **Independent examiner's statement** In accordance with our examination, no matter has come to our attention: (1) Which gives us reasonable cause to believe that in any material respect the requirements: (a) To keep accounting records in accordance with section 41 of the Act: and (b) To prepare accounts which accord with the accounting records and to comply with the accounting requirements of the Act have not been met, or (2) To which, in our opinion, attention should be drawn to enable a proper understanding of the accounting to be reached. ## Signature: VincSant _PMCT Accountants & Auditors Partner: Vincent Santeng – PGDIP, MBA (MBS), FCCA For and behalf of PMCT Ltd in our capacity as qualified Chartered and Certified Accountants._ Date: 20 November 2022 ## _**Address: Suite 322B, Ability House, 121 Brooker Road, Waltham Abbey, EN9 1JH**_ 4 **Love Temple Christian Church (LTCC) with Charity Registration: 1146397** _**Accounts prepared and certified by: PMCT Chartered and Certified Accountants**_ ## **Love Temple Christian Church (LTCC)** ## **Statement of Financial Activities Ending on 30 June 2021** **3. LTCC Annual Report for the Year Ended 30 June 2021** - **3.1 Scope of Operation and Undertaken Activities** The Trustees report that the financial year ended 30 June 2021 continued to bring new challenges for the organisation. In line with our Christian ethos, during the year, various teaching and prayer seminars were organised on regular basis. Again, the attendances to these activities have continued to increase especially in the areas of helping the youth to desist from joining ‘Gangs’ in favour of living a Christ centred life. ## **3.2 Income and Expenditure Summary as of 30 June 2021** ||**2020-2021**|**2019-2020**| |---|---|---| |**INCOME**||| |MembersDonations|20,815|84,288| |Gift Aid Received|46,919|| |Grant|11,012|2,400| ||**78,745**|**86,688**| |||| |**EXPENSES**||| |Direct Charitable Expenditure on Direct Charitable Objectives|18,464|18,752| |Management and Administration Expenses|70,360|67,399| |**Total Expenses**|**88,824**|**86,151**| |||| |**Net Surplus / Deficit**|**-10,079**|**538**| |||| |Funds Reserve|14,435|13,898| |**Profit and Loss Reserve**|**4,357**|**14,435 **| The net movement in funds for the year stated above arose entirely from continuing activities. There are no recognised gains or losses for the year above other than included in the above statement of financial activities. The notes from pages 7 to 9 form part of these accounts. Love Temple Christian Church performance statement above and the Balance Sheet below is reflection of true and fair view of the trust position as of 30 June 2021. 5 **Love Temple Christian Church (LTCC) with Charity Registration: 1146397** _**Accounts prepared and certified by: PMCT Chartered and Certified Accountants**_ ## **Love Temple Christian Church (LTCC)** ## **Statement of Financial Activities Ending on 30 June 2021** ## **3.3 Statement of Position (Balance Sheet) as of 30 June 2021** ||**2020-2021**|**2019-2020**| |---|---|---| |**CURRENT ASSETS**||| |Debtors and Advance payment to Service Providers|10,025|13,025| |Balance at Bank and in hand|12,195|6,377| ||**22,220**|**19,402**| |||| |**LIABILITIES:**||| |Amounts falling due within one year (Note)|17,863|4,968| |||| |**Net Assets Position **|**4,357**|**14,435 **| |||| |**FUNDS**||| |AccumulatedUnrestricted Reserve|**4,357**|**14,435 **| Approved by the Board of Trustees on 21 November 2022 ## Signed: MarkAbban ## Mark Abban ## _Chairman of the LTCC_ _For and on behalf of Trustees and Members of Love Temple Christian Church Date: 21 November 2022_ The notes to accounts are on pages 7 to 9. 6 **Love Temple Christian Church (LTCC) with Charity Registration: 1146397** _**Accounts prepared and certified by: PMCT Chartered and Certified Accountants**_ ## **Love Temple Christian Church (LTCC)** ## **Statement of Financial Activities Ending on 30 June 2021** **4. Notes to the accounts: Year ended 30 June 2021** - **4.1 Accounting Policies** ## **4.1.1 Basis of measurement and preparation of accounts** The financial statements have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008). The financial statement reflects the requirements of the revised Statement of Recommended Practice 'Accounting for Charities' (SORP). The charity complied with best practice at the time of preparing these accounts. ## **4.1.2 Tangible Fixed Assets depreciation policy** All fixed Assets are capitalised after taking account of any grants receivable (if any), at the following annual rates to write off each asset over its estimated useful life. The charge for depreciation is calculated to write-off the costs of fixed assets are capitalised over their usefulness on the following bases: - Equipment 25% on Net Book Value (reducing balancing capitalising method) - Furniture 25% on Net Book Value (reducing balancing capitalising method) - Fittings 25% on Net Book Value (reducing balancing capitalising method) ## **4.1.3 Income Recognition** Income is accounted for on an accrual’s basis, except for donations, which are credited to income when received during the period. ## **4.1.4 Expenditure** AII expenditure is accounted for on an accrual basis. Direct charitable expenditure relates to those incurred or grants payable, which directly relate to the furtherance of the charity's objects. Management and administration costs include wages and related costs of central administration. ## **4.1.5 Valuation information and policy** Where applicable valuations would be undertaken as the lower of cost and net realisable value, after making do allowance for obsolete. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads. 7 **Love Temple Christian Church (LTCC) with Charity Registration: 1146397** _**Accounts prepared and certified by: PMCT Chartered and Certified Accountants**_ ## **Love Temple Christian Church (LTCC)** ## **Statement of Financial Activities Ending on 30 June 2021** ## **4.2 Performance – Detailed Income and Expense Statement** |||**2020 - 2021**|**2019 - 2020**| |---|---|---|---| ||**INCOME**||| |**Members Donations**|Offerings||11,098| ||Tithe|20,815|27,896| ||Donations and Thanksgiving||11,549| ||Building and Project Funds||8,381| ||Departmental Ministry Allocation||25,364| ||HMRC JRS GRANT - 120PM01337805|11,012|2,400| |||**31,827**|**86,688**| ||Gift Aid Received|46,919|| |**Income Total**||**78,745**|**86,688**| ||||| ||**EXPENSES**||| |**Direct Charitable**
**Expenditure on Direct**
**Charitable Objectives**|Media & Advertising & Promotions|1,800|550| ||TrainingandSocials|3,564|6,172| ||Welfare-Church members|13,100|12,030| |||**18,464**|**18,752**| ||||| |**Management and**
**Administration**
**Expenses**|Personnel -Salary|12,000|12,000| ||Printing, postage and stationery|650|5,218| ||Motor and Travel|385|4,226| ||Radio Ministration|9,000|7,785| ||Rent|16,620|15,710| ||Telephone / Mobile Telephone / Internet|1,320|1,320| ||Bookkeeping|2,900|2,000| ||Accountancy|780|780| ||Professional & Consultancy|7,000|3,354| ||Interior Decoration|780|1,101| ||Administration|6,540|408| ||Video Management and Social Media Services|1,200|300| ||Departmental Ministry Allocation|11,185|25,057| ||Software|212|140| |||**70,360**|**67,399**| |**Total Expense**||**88,824**|**86,151**| ||||| ||**Net Surplus / Deficit**|**-10,079**|**538**| ||AccumulatedNon-Distributable Reserve|14,435|13,898| ||**Profit and Loss Reserve**|**4,357**|**14,435**| The charity's funds are unrestricted and are available for use at the discretion of the trustees 8 **Love Temple Christian Church (LTCC) with Charity Registration: 1146397** _**Accounts prepared and certified by: PMCT Chartered and Certified Accountants**_ ## **Love Temple Christian Church (LTCC)** ## **Statement of Financial Activities Ending on 30 June 2021** ## **4.3 Trustees Commitment** No amounts were paid to any trustees during the year in respect of their duties as trustees. The office of Ministers cost was £12,000.00 for duties as a fulltime Christian Minister. The need to remunerate LTCC Ministers would be addressed as part of our future consideration. 9 **Love Temple Christian Church (LTCC) with Charity Registration: 1146397** _**Accounts prepared and certified by: PMCT Chartered and Certified Accountants**_