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|---|---|---|---|---|---|
|Reference and administrative||details||||
|Report ofthe trustees|||2|to|6|
|Report ofthe independent<br>auditors|||7|to|10|
|Statement offinancial|activities|||||
|Statement offinancial|position|||12||
|Statement ofcash flows||||||
|Notes to the statement|ofcash|flows||14||
|Notes to the financial|statements||15|to|21|
|Detailed statement of|iinancial|activities|22|to|23|





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||||||2021|2020|
|---|---|---|---|---|---|---|
||||Unrestricted|Restricted|Total|Total|
||||fund|fund|funds|funds|
|||Notes|||||
|INCOME AND ENDOWMENTS FROM|||||||
|Donations<br>and legacies||2|3,158,199|77,151|3,235,350|2,838,490|
|Charitable<br>activities|||||||
|Church|||29,815||29,815|29,546|
|Inveshnent<br>income||3|115,710||115,710|92„013|
|Other income|||90798||9ll798|83 82ll|
|Total|||3,394,522|77,151|3,471,673|3,043,869|
|EXPENDITURE ON|||||||
|Charitable<br>activities|||||||
|Church|||2,034,748|123,935|2,158,683|1,762,735|
|Net gains/(losses)<br>on investments|||19495||~294937||
|NET INCOME/(EXPENDITURE)|||1,340,279|(46,784)|1,293,495|1,281,134|
|Transfers between funds||37|~366.664|166,064|||
|Net movement<br>in funds|||1,174,215|119,280|1,293,495|1,281,134|
|RECONCILIATION|OF FUNDS||||||
|Total funds brought|forward||13,512,220|107,559|13,619,779|12,338,645|
|TOTAL FUNDS CARRIED FORWARD|||14686435|226 839|14,91L274|13619779|





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||KC<br>B<br>2|||
|---|---|---|---|
|||2021|2020|
||Notes|||
|FIXEDASSETS||||
|Tangible assets|10|11,922,405|11,947,551|
|Investments|ll|60563|80058|
|||11,982,968|12,027,609|
|CURRENT ASSETS||||
|Debtors|12|294,545|281,886|
|Cash at bank and in hand||3 529,604|2 341 202|
|||3,824,149|2,623,088|
|CREDITORS||||
|Amounts<br>falling due within one year|13|(38,723)|(90,233)|
|NET CURRENT ASSETS||3785426|2532 855|
|TOTAL ASSETSLESSCURRENT||||
|LIABILITIES||15,768,394|14,560,464|
|CREDITORS||||
|Amounts<br>falling due atter more than one year|14|(855,120)|(940,685)|
|NET ASSETS||14913274|13619'179|
|FUNDS|17|||
|Unrestricted<br>funds:||||
|General<br>fund||14,686,435|13,512,220|
|Restricted funds:||||
|Building<br>Fund||226 039|307359|
|TOTAL FUNDS||14 913274|13619.779|






|||DEEP|ERCHRISTIAN LIFE<br>I TR|ERCHRISTIAN LIFE<br>I TR|Y||
|---|---|---|---|---|---|---|
||||MENT OFCASH FLOWS||||
|||F R||ENDED 31STDECEMBER 2021|||
|||||2021||2020|
||||Notes|g|||
|Cash flows from operating||activities|||||
|Cash generated<br>from operations|||1|I 508|021|I 429829|
|Net cash provided<br>by operating<br>activities||||1,508,021||1,429,829|
|Cash flows from investing||activities|||||
|Purchase oftangible fixed|assets|||(234,146)||(69,652)|
|Interest received|||||92|781|
|Net cash used in investing|activities|||~234.054||~68.67I)|
|Cash flows from financing<br>Loan repayments<br>in year||activities||~85|565|869783|
|Net cash used in financiug||activities||~85|565)|~86978.)|
|Change in cash and cash|equivalents||in||||
|the reporting<br>period||||1,188,402||491,175|
|Cash and cash equivalents||at the|||||
|beginning<br>ofthe reporting||period||2,341|202|1,850,027|
|Cash and cash equivalents||at the end|of||||
|the reporting<br>period||||3 529|6)l4|2,341,202|





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||||||2021|2020|
|---|---|---|---|---|---|---|
||||||0|0|
|Net income|for the|reporting||period (asper the Statement of|||
|financial<br>activities)|||||1,293,495|1,281,134|
|Adjustments|for:||||||
|Depreciation|charges||||259,292|221,595|
|Losses on investments|||||19,495||
|Interest received|||||(92)|(781)|
|Increase in debtors<br>(Decrease)/increase||in|creditors||(12,659)<br>~5L510)|(72,645)<br>526|
|Net cash provided||by|operations||I 501).02)|I 429 )129|
|ANALYSIS|OF CHANGES IN NET FUNDS||||||
|||||At 1.1.21|Cash fiow|At 31.12.21|
||||||0||
|Net cnsh|||||||
|Cash at bauk|and in|hand||2341202|11118402|3529604|
|||||2 341 202|I 188.402|3 529604|
|Debt|||||||
|Debts falliug|due after||1 year|~940605|05565|~8551211)|
|||||~9406851|85.565|~855.120)|
|Total||||I 400.517|I 27. 967|2 074404|





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|2.|DONATIONS<br>AND|LEGACIES|||
|---|---|---|---|---|
||||2021|2020|
||||g||
||Tithes and offerings||2,879,808|2,378,045|
||Gift aid||278,391|377,908|
||Gbagada HQ Offerings||77,151|82 537|
||||3,233,330|2.8'18.490|
|3.|INVESTMENT INCOME||||
||||2021|2020|
|||||g|
||Rents received||115,618|91,232|
||Deposit account interest||92|781|
||||115710|92013|
|4.|INCOME FROM CHARITABLE ACTIVITIES||||
||||2021|2020|
|||Activity|||
||Books and Cd's sales|Clturch|25,352|28,346|
||Conference<br>and retreat||||
||income|Church|4,463|1 200|
||||29,815|29,546|
|5.|CHARITABLE ACTIVITIES COSTS||||
|||||Direct|
|||||Costs (see|
|||||note 6)|
||Church|||2,158,683|
|6.|DIRECT COSTSOF|CHARITABLE ACTIVITIES|||
||||2021|2020|
||Trustees' remuneration|etc|78,729|78,061|
||Staffcosts||251,331|253,538|
||Telephone||33,906|36,990|
||Postage and stationery||8,205|8,057|
||Advertising<br>and tracts||3,336|721|
||Church refreshments||20,965|10,473|
||Missions, grants &donations||190,456|196,335|
||Satellite church expenses||183,828|119,313|
||Gbagada HQ cost||123,935|100,015|
||Properties<br>and facilities|cost|388,171|386,193|
||Conferences<br>and retreats||91,674|28,805|
||Books and CD's expenses||120,132|34,405|
||Other expenses||11,191|10,621|
||Service charges||179,083|79,662|
||Subscriptions||9 143|837|
||Carried forward||1,694,085|1,344,026|





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|DIRECT COSTSOF|CHAR|ITA|BLE ACTIVITIES -continued|||
|---|---|---|---|---|---|
|||||2021I|2020<br>0|
|Brought forward||||1,694,085|1,344,02G|
|Welfare, Training and courses||||1G,168|13,766|
|Transport<br>and travel||||60,144|54,305|
|Audit fees||||26,400|21,255|
|Legal and professional|fees|||44,685|25,519|
|Bank charges &interest||||33,390|75,248|
|Equipment<br>hire||||5,391|7,021|
|Depreciation||||27242ij|221 595|
|||||2 158683|1 762 735|
|NET INCOME/(EXPENDITURE)||||||
|Net income/(expenditure)|is stated||after charging/(crediting):|||
|||||2021|2020|
|Depreciation - owned assets||||259,292|221 595|
|TRUSTEES' REMUNERATION|||AND BENEFITS|||
|||||2021|2020|
|Trustees'<br>salaries||||70,516|69,928|
|Trustees' social security||||7,306|7,234|
|Trustees' pension contributions||to defined benefit schemes||907|899|
|||||78729|78061|



## 

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|STAF|F COSTS|||
|---|---|---|---|
|||2021|2020|
|Wages|and salaries|299,279|305,105|
|Social|security costs|23,290|19,694|
|Other|pension costs|7,491|6,800|
|||330,060|331,599|



|||2021|2020|
|---|---|---|---|
|Direct charitable||9|9|
|Management|and administration|3|3|
|||12|12|





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||There were no employees<br>whose 4umual|remuneration<br>was f|60,000ormore.|||
|---|---|---|---|---|---|
|10.|TANGIBLE FIXEDASSETS|||||
|||Land and|Plant and|Motor||
|||buildings|machinery|vehicles|Totals|
||COST|||||
||At 1st January 2021|13,758,114|1,531,281|231,673|15,521,068|
||Additions|51,363|157783|25,000|234 146|
||At 31stDecember 2021|13809477|1689064|256;673|15,755,214|
||DEPRECIATION|||||
||At 1stJanuary 2021|1,945,362|1,423,033|205,122|3,573,517|
||Charge for year|142,155|98 149|18988|259292|
||At 31stDecember 2021|2,087,517|1 521182|224 110|3 832 809|
||NKT BOOK VALUE|||||
||At 31stDecember 2021|11,721,960|167 882|32 5G3|11922405|
||At 31stDecember 2020|11,812,752|108,248|2G 551|11947 551|
|11.|FIXEDASSETINVESTMENTS|||||
||||||Listed|
||||||investments|
||MARKET VALUE|||||
||At 1st January 2021 and|||||
||31stDecember 2021||||80,058|
||PROVISIONS|||||
||Provision written off||||19495|
||NET BOOK VALUE|||||
||At 31stDecember 2021||||60 5G3|
||At 31stDecember 2020||||~80 058|





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|DEBTORS:AMOU|NTS FALLING DUE WITHIN ONE YEAR|||
|---|---|---|---|
|||2021|2020|
|Other receivables||250|6,963|
|Staffloan||749|2,399|
|Prepayrnents<br>and accrued income||293,546|272,524|
|||294 545|281886|
|CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR||||
|||2021|2020|
|Social security and other taxes|||5,475|
|Accruals and deferred|income|38723|84758|
|||38723I|90233|
|CREDITORS: AMOUNTS FALLING DUE AFTERMORE THAN ONE YEAR||||
|||2021|2020|
|Bank loans (see note|15)|855 120|940685|



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|ANALYSIS OF NET ASSET|SBETWEEN FUNDS||||
|---|---|---|---|---|
||||2021|2020|
||Unrestricted|Restricted|Total|Totnl|
||fund|fund|funds|funtls|
|Fixed assets|11,922,405||11,922,405|11,947,551|
|Invesunents|60,563||60,563|80,058|
|Current assets|3,597,310|226,839|3,824,149|2,623,088|
|Current liabilities<br>Long term liabilities|(38,723)<br>~855 120)||(38,723)<br>~855 120)|(90,233)<br>~940685)|
||14.686.435|226 839|14.9k1 274|13.619,779|





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|MOVEMENT|IN FUNDS|||||
|---|---|---|---|---|---|
||||Net|Transfers||
||||movement|between|At|
|||At 1.1.21|in funds|funds|31.12.21|
|Unrestricted|funds|||||
|General fimd||13,512,220|1,340,279|(166,064)|14,686,435|
|Restricted funds||||||
|Building Fund||107,559|(46,784)|166,064|226,839|
|TOTAL FUNDS||\:1619779|L293493||14 91-'I 274|



|||Incoming|Resources|Gains and|Movement|
|---|---|---|---|---|---|
|||resources|expended|losses|in funds|
|Unrestricted|funds|||||
|General fund||3,394,522|(2,034,748)|(19,495)|1,340,279|
|Restricted funds||||||
|Building Fund||77,151|(123,935)||(46,784)|
|TOTAL FUNDS||3473673|J2 33116833|~39 4933|I 29 149S|



## 

||||Net||
|---|---|---|---|---|
||||movement|At|
|||At 1.1.20|in funds|31.12.20|
|Unrestricted|funds||||
|General fund||12,231,086|1,281,134|13,512,220|
|Restricted funds|||||
|Building Fund||107,559||107,559|
|TOTAL FUNDS||12,338,613|1.281 LI4|I'1.639779|





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||<br>F RTHE YEAR ENDED 3|<br><br>1STDECEMBER 2021||
|---|---|---|---|
|||2021|2020|
|INCOME AND|ENDOWMENTS|||
|Donations<br>and legacies||||
|Tithes and offerings||2,879,808|2,378,045|
|Gift aid||278,391|377,908|
|Gbagada HQ Offerings||77 151|82 537|
|||3,235,350|2,838,490|
|Investment<br>income||||
|Rents received||115,618|91,232|
|Deposit account|interest|92|781|
|||115,710|92,013|
|Charitable<br>activities||||
|Books and Cd's <br>Conference<br>and|sales<br> retreat income|25,352<br>~4463|28,346<br>1,200|
|||29,815|29,546|
|Other income||||
|Other income||90.798|83.820|
|Total incoming|resources|'3,471,673|3,043,869|
|EXPENDITURE||||
|Charitable<br>activities||||
|Trustees' salaries||70,516|69,928|
|Trustees' social security||7,306|7,234|
|Trustees' pension|contributions|907|899|
|Wages||228,763|235,177|
|Social security||15,984|12,460|
|Pensions||6,584|5,901|
|Telephone||33,906|36,990|
|Postage and stationery||8,205|8,057|
|Advertising<br>and|tracts|3,336|721|
|Church rei'resiunents||20,965|10,473|
|Missions,<br>grants|dt donations|190,456|196,335|
|Satellite church expenses||183,828|119,313|
|Gbagada HQ cost||123,935|100,015|
|Properties<br>and facilities cost||388,171|386,193|
|Conferences<br>and|retreats|91,674|28,805|
|Books and CD's|expenses|120,132|34,405|
|Other expenses||11,191|10,621|
|Service charges||179,083|79,662|
|Subscriptions||9,143|837|
|Welfare, Training|and courses|16,168|13,766|
|Carried forward||1,710,253|1,357,792|





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||F RTHEYEARE<br>DED31|STDE EMBER2021||||
|---|---|---|---|---|---|
||||2021||2020|
|Charitable<br>activities|||||g|
|Brought forward||1,710,253||1,357,792||
|Transport<br>and travel|||60,144||54,305|
|Audit fees|||26,400||21,255|
|Legal and professional|fees||44,685||25,519|
|Bank charges &interest|||33,390||75,248|
|Equipment<br>hire<br>Depreciation oftangible|fixed assets||5,391<br>278429||7,021<br>221 595|
|||2 I58683||I|762 735|
|Total resources expended||2 l58 683||I|762735|
|Net incorue||I|312996|I|2lll<br>I'.!4|