2021-03-31-accounts - Faith Revival Assembly

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

FAITH REVIVAL ASSEMBLY 96 GUILDFORD ROAD CROYDON CR0 2HJ

TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

JSA & ASSOCIATES QUALIFIED ACCOUNTANTS SUITE 4 , CHALLENGE HOUSE 616 MITCHAM ROAD CROYDON CR0 3AA

FAITH REVIVAL ASSEMBLY.

CONTENTS	PAGE
Legal and administrative information	1
Trustees report	2-3
Independent Accountant's report	4-5
Statement of Financial Activities	6
Notes forming part of the financial statements	7-10

FAITH REVIVAL ASSEMBLY.

TRUSTEES: Mrs. Patience Akuffo Rev. Dr. Samuel Ghann Rev. Dr. James Hansen-Sack SECRETARY: Mrs Sandra Annan TREASURER: Mrs Patience Akuffo Organisation ADDRESS: 96 Guildford Road Croydon CR0 2HJ BANKERS: Barclays Bank Croydon Independent Accountants JSA & ASSOCIATES ACCOUNTANTS Suite 4 Challenge House 616 Mitcham Road CR0 3AA CONTENT: 1. Trustees' Report 2. Accountant's Report 3. Statement of Financial Sta 4. Notes to the Accounts

FAITH REVIVAL ASSEMBLY. TRUSTEES' REPORT

The trustees have pleasure in submitting their report and accounts for the period ended 31 March 2021. The financial statements have been prepared in accordance with the accounting policies set out on Page 8, and comply with the Statement of Recommended Practice and applicable law.

Constitution, Objectives of the Organisation, Principal Activities and Organisation of our wor

The Church is constituted under a trust deed and in the process of obtaing charity status.

The objectives of the Church as set out in the Declaration of Trust are:

a) The advancement of the Christian Faith in the United Kingdom and abroad.
b) The relief of persons who are in condition of need, hardship or distress in the United Kingdom or abroad.

The principal activities of the church are Christian worship and involvement of various ministries and ministers of religion to propagate Christian tenets, relief of poverty, provision of overseas aid and assistance to victims of famine.

The church has been involved in Christian programs, these are designed to increase Christian awareness and the spread of the gospel of our Lord Jesus Christ.

Future Developments

The Church will continue to focus its activities to meet the objectives of the Trust.

Review of financial position

The net incoming resources for the period amounted to £4542

FAITH REVIVAL ASSEMBLY. TRUSTEES' REPORT (continued)

Statement of Trustees' Responsibilities

The Charities Act requires the Trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the Organisation and of the surplus or deficit of the organisation for that period. In preparing those financial statements, the trustees are requested to:

Select suitable accounting policies and then apply them consistently;
Make judgements and estimates that are reasonable and prudent;
State whether applicable accounting standards and statements of recommended practice have been followed, subject to any departures disclosed and explained in the financial statements;
Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Organisation will continue in operation.

The Trustees are responsible for keeping proper accounting records, which disclose with reasonable accuracy at any time the financial position of the Organisation and to enable them to ensure that the financial statements comply with the Charities Act. They are also responsible for safeguarding the assets of the Organisation and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Accountants

The accountants, Messrs. JSA & ASSOCIATES., have expressed their willingness to stay in office.

Approval

This report was approved by the board of trustees and signed on its behalf by:

Mrs Patience Akuffo Dated: 28/12/2021

INDEPENDENT ACCOUNTANTS' REPORT TO THE TRUSTEES OF FAITH REVIVAL ASSEMBLY.

We examined the financial statement of Faith Revival Assembly

for the year ended 31 March 2021 set out on pages 6 to 11. These financial statements have been prepared under the Historical Cost Convention and the accounting policies set out on page 8.

Respective Responsibilities of Trustees and Independent Accountants

The Trustees responsibilities for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards are set out in the Statement of Trustees responsibilities on page 3.

We have been appointed as independent accountantants under Section 43 of the Charities Act 1993 and report in accordance with regulations made under Section 44 of that Act.

Our responsibility is to examine the financial statements in accordance with relevant regulatory requirements and under United Kingdom Accounting Standards.

We read other information contained in the Trustees’ Report and Financial Statements, and considered that it is consistent with the examined financial statements.

JSA & ASSOCIATES

Accountants Suite 4 Challenge House 616 Mitcham Road CR0 3AA

Dated :

FAITH REVIVAL ASSEMBLY. STATEMENT OF FINANCIAL ACTIVITIES FOR YEAR ENDED 31 MARCH 2021

Notes Incoming Resources 1.1 Activities in furtherance of the Church's objects Tithes and Offering Other income (Good to give) Total Incoming Resources Resources Expended Cost of generating funds Cost of Activities in furtherance of objectives 2 Charitable Expenditure Management & Administration 3 Total resource expended Net Movement in funds for the year Total funds brought forward Total funds carried forward	Unrestricted Restricted Total Funds Funds £ £ £ 76,486 - 76,486 17,309 0 17,309 0
	93,795 0 93,795
	54,762 54,762 34,491 34,491
	89,253 0 89,253
	4,542 0 4,542 20,336 20,336
	24,878 0 24,878

There were no recognised gains or losses for the period other than those included in the Statement of Financial Activities

The notes on page 6 to 9 form part of these financial statements.

FAITH REVIVAL ASSEMBLY. NOTES TO THE FINANCIAL STATEMENT FOR YEAR ENDED 31 MARCH 2021

Accounting Policies

1. Basis of preparation of accounts

The accounts are prepared under the historical cost convention and include the results of the Organisation's operations which are described in the Trustees' Report and all of which are continuing.

The accounts have been prepared in accordance with the Statement of Recommended Practice for Charity Accounts and the Charities Act 2011.

The Organisation has taken advantage of the exemption in Financial Reporting Standard No.1 from the requirement to produce a cashflow statement on the grounds that it qualifies as a small Organisation.

1.1 Incoming Resources

Tithes and Offering

Income from tithes and offering, is included in incoming resources when these are receivable.

Other Income

Other Income comprises income from welfare donations & other donations, it also include gift aid, these are all deemed as unrestricted funds.

1.2 Tangible Fixed Assets for use by the Organisation and Depreciation.

Individual fixed assets costing £120 or more are capitalised at cost. Tangible fixed assets for use by the Church are stated at cost less depreciation.

Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Equipment, Fixtures & Fittings 18% per annum Motor Vehicle 18% per annum

The Organisation has taken advantage of the exemption in Financial Reporting Standard No. 1 from the requirement to produce a cashflow statement on the grounds that it qualifies as a small entity.

FAITH REVIVAL ASSEMBLY. NOTES TO THE FINANCIAL STATEMENT (continued) FOR YEAR ENDED 31 MARCH 2021

1.3 Value Added Tax

Value Added Tax is not recoverable by the Organisation, and as such is included in the relevant costs in the Statement of Financial Activities.

1.4 Resources expended

Resources expended are included in the Statement of Financial activities on an accruals basis. Certain costs have been apportioned between Cost of Activities in Furtherance of Objectives and Management and Administration on the bases consistent with the use of those resources.

1.5 Funds Accounting

Funds held by the Churh:

Unrestricted general fund - comprising funds which can be used in accordance with the charitable objects at the discretion of the trustees.

Restricted funds - which were raised for particular restricted purposes and can only be used for those particular restricted purposes within the objects of the Church.

Adjustments

Brought forward 31 March 2020 Adjustment from earlier years

FAITH REVIVAL ASSEMBLY. NOTES TO THE FINANCIAL STATEMENT (continued) FOR YEAR ENDED 31 MARCH 2021

2. Cost of Activities in furtherance of objectives

2.Cost of Activities in furtherance of objectives
Rent Transport Cost Donations Missions & Ministry Visiting Ministers Welfare Telephone	Unrestricted £ 1,000 5200 8,300 27,550 10,088 1,500 1,124	Restricted Total £ £ - 1,000 5,200 0 8,300 27,550 10,088 1,500 - 1,124	Total
	54,762	0 54,762

3. Management and Administration

Equipment & Accessaries Mission House Refreshment Storage Stationery & postage Pastor Sundry Expenses Conference Insurance	Unrestricted £ 3,058 19,800 0 1,450 0 9,710 0 129 344	Restricted Total £ £ 3,058 19,800 0 1,450 0 9,710 0 129 344	Total
	34,491	0 34,491

FAITH REVIVAL ASSEMBLY. NOTES TO THE FINANCIAL STATEMENT (continued) FOR YEAR ENDED 31 MARCH 2021

List of Assets and Liabilities

Total Cash and Bank

£26,072

Drum set Microphones Speakers Amplifer Mixer Keybord Pulpit Bass Computers

tements

2020

86,112 5,788

91,900

42,521

37,761

80,282

-1,167

21,503

20,336

2020

£ 9,000 4,800 6,900 23,102 3,650 610 928 48,990

2,019 £ 5,253 19,800 2,742 1,347 445 9,710 344 4,065 371 44,077