2020-12-31-accounts - The Apostles' Continuation Church International Hackney/seven Sisters Assembly

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REGISTERED CHARITY NUMBER: 1151278

REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 FOR

THE APOSTLES' CONTINUATION CHURCH INTERNATIONAL HACKNEY/SEVEN SISTERS ASSEMBLY

Appiatse & Associates Chartered Certified Accountants 191 Waltham Way Chingford London E4 8AG

THE APOSTLES' CONTINUATION CHURCH INTERNATIONAL HACKNEY/SEVEN SISTERS ASSEMBLY

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

	Page
Report of the Trustees	1 to 2
Statement of Trustees Responsibilities	3
Independent Examiner's Report	4
Statement of Financial Activities	5
Balance Sheet	6
Notes to the Financial Statements	7 to 10
Detailed Statement of Financial Activities	11 to 12

THE APOSTLES' CONTINUATION CHURCH INTERNATIONAL HACKNEY/SEVEN SISTERS ASSEMBLY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020

The trustees present their report with the financial statements of the charity for the year ended 31 December 2020. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities' issued in March 2005.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Charity number

1151278

Principal address

International House Tariff Road London N17 0DY

Trustees

D O Acquah Ms J Acheampong Mrs V A Akoto E Bour - appointed 1.4.20

Independent examiner

Appiatse & Associates Chartered Certified Accountants 191 Waltham Way Chingford London E4 8AG

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes an unincorporated charity.

Risk management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

The Pastor and his Elders are the managing trustees of the charity. They meet monthly or as the situation may require to discus and plan objectives and implementation thereof

OBJECTIVES AND ACTIVITIES

Objectives and aims

To advance the Christian faith in accordance with the statement of beliefs appearing in the schedule hereto in London and in such parts of the world as the Trustees may from time to time think fit.
To relieve persons who are in conditions of need or sick and to relieve the distress caused, in London and in such other parts of the United Kingdom or the world.
To promote and fulfil such other charitable purposes beneficial to the community in London and in such other parts of the world.

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THE APOSTLES' CONTINUATION CHURCH INTERNATIONAL HACKNEY/SEVEN SISTERS ASSEMBLY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020

OBJECTIVES AND ACTIVITIES

Objectives for the year

In addition to the above, the Charity sought in the year:-

To raise the necessary funds to purchase a place of worship with offices
To plant other churches in the UK
To increase Sunday service attendance
To be more involved in Community work.
To advance education in accordance with Christian principles.

Volunteers

In addition to members' financial contributions to the charity, some members do provide valuable voluntary services. Some of these roles and activities include counselling, teaching in the various Sunday schools, music and & video ministry and administration.

ACHIEVEMENT AND PERFORMANCE

Charitable activities

The Charity has engaged in intensive evangelism in the community and has supported the youth in music, drama and other recreational activities.

Sunday service attendance has increased drastically resulting in two services on Sundays and three other services during the week.

The trustees are satisfied with the performance of the charity during the year, and its financial position as at 31st December 2018. The Charity is in a strong position to continue its activities during the coming years.

FINANCIAL REVIEW

Principal funding sources

The Charity's funding is mainly from members of The Apostles' Continuation Church Hackney Seven Sisters Assembly which includes generous donations, tithe, offering and special appeal for funds to finance special needs.

Other areas of sources of funds are Gift Aid and Bank Investment Income.

The main source of income continues to be the regular donations of the members of the church and the gift aid scheme. The main expenditure of the church is rent and the running costs of the church activities. The church has no paid employees or trustees.

The Statement of Financial activities show gross income of £103,904. The total resources expended were £50,090 leaving a net surplus of £53,814.

Approved by order of the board of trustees on 9 August 2021 and signed on its behalf by:

Mrs V A Akoto - Trustee

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THE APOSTLES' CONTINUATION CHURCH INTERNATIONAL HACKNEY/SEVEN SISTERS ASSEMBLY

STATEMENT OF TRUSTEES RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 2020

The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed 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 charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to

select suitable accounting policies and then apply them consistently;
observe the methods and principles in the Charity SORP;
make judgements and estimates that are reasonable and prudent;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE APOSTLES' CONTINUATION CHURCH INTERNATIONAL HACKNEY/SEVEN SISTERS ASSEMBLY

I report on the accounts for the year ended 31 December 2020, which are set out on pages five to ten.

Responsibilities and basis of report

As the charity's trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').

I have examined your charity's accounts as required under section 145 of the Charities Act 2011 ('the Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

My role is to state whether any material matters have come to my attention giving me cause to believe:

that accounting records were not kept as required by section 130 of the Act; or
that the accounts do not accord with those records; or
that the accounts do not comply with the accounting requirements of the Act; or
that there is further information needed for a proper understanding of the accounts.

Independent examiner's statement

I have completed my examination and have no concerns in respect of the matters (1) to (4) listed above and, in connection with following the Directions of the Charity Commission I have found no matters that require drawing to your attention.

Ekow Appiatse FCCA Appiatse & Associates Chartered Certified Accountants 191 Waltham Way Chingford London E4 8AG

9 August 2021

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THE APOSTLES' CONTINUATION CHURCH INTERNATIONAL HACKNEY/SEVEN SISTERS ASSEMBLY

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020

31.12.20 Unrestricted fund Notes £ INCOMING RESOURCES Incoming resources from generated funds Voluntary income 87,707 Activities for generating funds 2 11,095 Investment income 3 5,102 Total incoming resources 103,904 RESOURCES EXPENDED Charitable activities charitable 25,611 Governance costs 720 Other resources expended 23,759 Total resources expended 50,090 NET INCOMING RESOURCES 53,814 RECONCILIATION OF FUNDS Total funds brought forward 172,564 TOTAL FUNDS CARRIED FORWARD 226,378	31.12.19 Total funds £ 114,399 26,355 4,500
	145,254 52,109 720 42,715
	95,544
	49,710 122,854
	172,564

CONTINUING OPERATIONS

All incoming resources and resources expended arise from continuing activities.

The notes form part of these financial statements

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THE APOSTLES' CONTINUATION CHURCH INTERNATIONAL HACKNEY/SEVEN SISTERS ASSEMBLY

BALANCE SHEET AT 31 DECEMBER 2020

31.12.20 Unrestricted fund Notes £ FIXED ASSETS Tangible assets 5 4,760 CURRENT ASSETS Debtors 6 16,771 Cash at bank 204,847 221,618 NET CURRENT ASSETS 221,618 TOTAL ASSETS LESS CURRENT LIABILITIES 226,378 NET ASSETS 226,378 FUNDS 7 Unrestricted funds 226,378 TOTAL FUNDS 226,378	31.12.19 Total funds £ 4,321 16,771 151,472
	168,243
	168,243
	172,564
	172,564
	172,564
	172,564

The financial statements were approved by the Board of Trustees on 9 August 2021 and were signed on its behalf by:

Mrs V A Akoto -Trustee

The notes form part of these financial statements

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THE APOSTLES' CONTINUATION CHURCH INTERNATIONAL HACKNEY/SEVEN SISTERS ASSEMBLY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

1. ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention, the Charities Act 2011 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities.

Incoming resources

All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.

Resources expended

Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery	- 25% on cost
Fixtures and fittings	- 25% on cost

Taxation

The charity is exempt from tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

2. ACTIVITIES FOR GENERATING FUNDS

		31.12.20	31.12.19
		£	£
	Fundraising events	9,390	24,445
	Welfare	1,490	1,310
	Women's Fellowship	155	520
	Men's Fellowship	60	80
		11,095	26,355
3.	INVESTMENT INCOME

	31.12.20	31.12.19
	£	£
Rents received	4,600	4,500
Deposit account interest	502	-
	5,102	4,500

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THE APOSTLES' CONTINUATION CHURCH INTERNATIONAL HACKNEY/SEVEN SISTERS ASSEMBLY

NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2020

4. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2020 nor for the year ended 31 December 2019 .

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2020 nor for the year ended 31 December 2019 .

5. TANGIBLE FIXED ASSETS

Plant and Fixtures and machinery fittings £ £ COST At 1 January 2020 1,000 6,590 Additions 3,114 - At 31 December 2020 4,114 6,590 DEPRECIATION At 1 January 2020 500 2,769 Charge for year 1,028 1,647 At 31 December 2020 1,528 4,416 NET BOOK VALUE At 31 December 2020 2,586 2,174 At 31 December 2019 500 3,821 6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.12.20 £ Other debtors 16,771 7. MOVEMENT IN FUNDS Net movement in At 1.1.20 funds At £ £ Unrestricted funds General fund 172,564 53,814 TOTAL FUNDS 172,564 53,814	Totals £ 7,590 3,114 10,704 3,269 2,675 5,944 4,760 4,321 31.12.19 £ 16,771 31.12.20 £ 226,378	Totals £ 7,590 3,114
		10,704
		3,269 2,675
		5,944
		4,760
		4,321
	226,378

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THE APOSTLES' CONTINUATION CHURCH INTERNATIONAL HACKNEY/SEVEN SISTERS ASSEMBLY

NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2020

7. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

	Incoming	Resources	Movement in
	resources	expended	funds
	£	£	£
Unrestricted funds
General fund	103,904	(50,090)	53,814
TOTAL FUNDS	103,904	(50,090)	53,814
Comparatives for movement in funds
		Net
		movement in
	At 1.1.19	funds	At 31.12.19
	£	£	£
Unrestricted Funds
General fund	122,854	49,710	172,564
TOTAL FUNDS	122,854	49,710	172,564

Comparative net movement in funds, included in the	above are as follows:
	Incoming	Resources	Movement in
	resources	expended	funds
	£	£	£
Unrestricted funds
General fund	145,254	(95,544)	49,710
TOTAL FUNDS	145,254	(95,544)	49,710

A current year 12 months and prior year 12 months combined position is as follows:
		Net
		movement in
	At 1.1.19	funds	At 31.12.20
	£	£	£
Unrestricted funds
General fund	122,854	103,524	226,378
TOTAL FUNDS	122,854	103,524	226,378

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THE APOSTLES' CONTINUATION CHURCH INTERNATIONAL HACKNEY/SEVEN SISTERS ASSEMBLY

NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2020

7. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

	Incoming	Resources	Movement in
	resources	expended	funds
	£	£	£
Unrestricted funds
General fund	249,158	(145,634)	103,524
TOTAL FUNDS	249,158	(145,634)	103,524

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THE APOSTLES' CONTINUATION CHURCH INTERNATIONAL HACKNEY/SEVEN SISTERS ASSEMBLY

DETAILED STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 DECEMBER 2020

INCOMING RESOURCES Voluntary income Tithe Offering Thanksgiving Gift Aid Pledges Activities for generating funds Fundraising events Welfare Women's Fellowship Men's Fellowship Investment income Rents received Deposit account interest Total incoming resources RESOURCES EXPENDED Charitable activities Rent & rates Post, Stationery & Telephone Advertising & Publicity Sundries Welfare Travelling Repairs and renewals Governance costs Accountancy	31.12.20 £ 35,336 21,124 3,636 27,611 - 87,707 9,390 1,490 155 60 11,095 4,600 502 5,102 103,904 20,850 1,088 - 90 3,583 - - 25,611 720	31.12.19 £ 47,306 52,376 7,662 - 7,055
		114,399 24,445 1,310 520 80
		26,355 4,500 -
		4,500
		145,254 44,714 1,478 1,021 - 3,000 1,000 896
		52,109 720

This page does not form part of the statutory financial statements

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THE APOSTLES' CONTINUATION CHURCH INTERNATIONAL HACKNEY/SEVEN SISTERS ASSEMBLY

DETAILED STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 DECEMBER 2020

Other resources expended Presbytery Mission & Visiting Pastors Music Tutor/Instrumentalists Allowances for Pastors & Appreciation Other Ministry Expenses Refreshments Plant and machinery Fixtures and fittings Total resources expended Net income	31.12.20 £ 660 3,224 14,400 2,800 - 1,028 1,647 23,759 50,090 53,814	31.12.19 £ 2,578 10,650 22,200 3,688 1,702 250 1,647
		42,715
		95,544
		49,710

This page does not form part of the statutory financial statements

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