REGISTERED CHARITY NUMBER: 1151278
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
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 2021
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | ||
| Notes to the Financial Statements | 6 | to | 11 |
| Detailed Statement of Financial Activities | 12 | to | 13 |
THE APOSTLES' CONTINUATION CHURCH INTERNATIONAL - HACKNEY/SEVEN SISTERS ASSEMBLY
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021
The trustees present their report with the financial statements of the charity for the year ended 31 December 2021. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
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.
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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.
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To promote and fulfil such other charitable purposes beneficial to the community in London and in such other parts of the world.
Objectives for the year
In addition to the above, the Charity sought in the year:-
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To raise the necessary funds to purchase a place of worship with offices
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To plant other churches in the UK
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To increase Sunday service attendance
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To be more involved in Community work.
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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 2021. 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 sources of funds are Gift Aid, Bank Investment Income and Rental 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 £181.267. The total resources expended were £112,431 leaving a net surplus of £68,836..
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THE APOSTLES' CONTINUATION CHURCH INTERNATIONAL - HACKNEY/SEVEN SISTERS ASSEMBLY
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1151278
Principal address
International House Tariff Road London N17 0DY
Trustees
D O Acquah (resigned 31.1.21) Ms J Acheampong (resigned 31.1.21) Mrs V A Akoto (resigned 31.1.21) E Bour E Obiri Yeboah (appointed 21.3.21) Ms D Osei (appointed 20.2.21)
Independent Examiner
Appiatse & Associates Chartered Certified Accountants 191 Waltham Way Chingford London E4 8AG
Approved by order of the board of trustees on 29 August 2022 and signed on its behalf by:
E Bour - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE APOSTLES' CONTINUATION CHURCH INTERNATIONAL - HACKNEY/SEVEN SISTERS ASSEMBLY
Independent examiner's report to the trustees of The Apostles' Continuation Church International - Hackney/Seven Sisters Assembly
I report to the charity trustees on my examination of the accounts of The Apostles' Continuation Church International - Hackney/Seven Sisters Assembly (the Trust) for the year ended 31 December 2021.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Ekow Appiatse FCCA Appiatse & Associates Chartered Certified Accountants 191 Waltham Way Chingford London E4 8AG
29 August 2022
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THE APOSTLES' CONTINUATION CHURCH INTERNATIONAL - HACKNEY/SEVEN SISTERS ASSEMBLY
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021
| 31.12.21 | 31.12.20 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||
| Donations and legacies | 2 | 137,563 | 87,707 |
| Charitable activities | |||
| Charitable | - | 144,568 | |
| Other trading activities | 3 | 36,489 | 11,095 |
| Investment income | 4 | 7,215 | 5,102 |
| Total | 181,267 | 248,472 | |
| EXPENDITURE ON | |||
| Charitable activities | 6 | ||
| Charitable | 58,608 | 26,331 | |
| Other | 53,823 | 23,759 | |
| Total | 112,431 | 50,090 | |
| NET INCOME | 68,836 | 198,382 | |
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | 370,946 | 172,564 | |
| TOTAL FUNDS CARRIED FORWARD | 439,782 | 370,946 |
The notes form part of these financial statements
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THE APOSTLES' CONTINUATION CHURCH INTERNATIONAL - HACKNEY/SEVEN SISTERS ASSEMBLY
BALANCE SHEET 31 DECEMBER 2021
| 31.12.21 Unrestricted fund Notes £ FIXED ASSETS Tangible assets 10 308,503 CURRENT ASSETS Debtors 11 18,771 Cash at bank 112,508 131,279 NET CURRENT ASSETS 131,279 TOTAL ASSETS LESS CURRENT LIABILITIES 439,782 NET ASSETS 439,782 FUNDS 12 Unrestricted funds 439,782 TOTAL FUNDS 439,782 |
31.12.20 Total funds £ 4,760 16,771 349,415 |
|---|---|
| 366,186 | |
| 366,186 | |
| 370,946 | |
| 370,946 | |
| 370,946 | |
| 370,946 |
The financial statements were approved by the Board of Trustees and authorised for issue on 29 August 2022 and were signed on its behalf by:
E Bour - 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 2021
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. 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.
Long leasehold - not provided 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.
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continued...
THE APOSTLES' CONTINUATION CHURCH INTERNATIONAL - HACKNEY/SEVEN SISTERS ASSEMBLY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021
| 2. DONATIONS AND LEGACIES Tithe Offering Thanksgiving Gift Aid Pledges 3. OTHER TRADING ACTIVITIES Fundraising events Welfare Women's Fellowship Men's Fellowship 4. INVESTMENT INCOME Rents received Deposit account interest 5. INCOME FROM CHARITABLE ACTIVITIES Activity Amount previously written off Charitable |
31.12.21 £ 48,020 41,391 11,432 28,190 8,530 137,563 31.12.21 £ 34,742 1,350 397 - 36,489 31.12.21 £ 7,200 15 7,215 31.12.21 £ - |
31.12.20 £ 35,336 21,124 3,636 27,611 - |
|---|---|---|
| 87,707 | ||
| 31.12.20 £ 9,390 1,490 155 60 11,095 31.12.20 £ 4,600 502 5,102 31.12.20 £ 144,568 |
continued...
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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 2021
6. CHARITABLE ACTIVITIES COSTS
| Charitable SUPPORT COSTS Charitable |
Support Direct costs (see Costs note 7) Totals £ £ £ 57,888 720 58,608 Governance costs £ 720 |
|---|---|
7. SUPPORT COSTS
8. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2021 nor for the year ended 31 December 2020.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2021 nor for the year ended 31 December 2020.
9. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |
|---|---|
| fund | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Donations and legacies | 87,707 |
| Charitable activities | |
| Charitable | 144,568 |
| Other trading activities | 11,095 |
| Investment income | 5,102 |
| Total | 248,472 |
| EXPENDITURE ON | |
| Charitable activities | |
| Charitable | 26,331 |
| Other | 23,759 |
| Total | 50,090 |
| NET INCOME | 198,382 |
continued...
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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 2021
9. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
| RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD 10. TANGIBLE FIXED ASSETS Long leasehold £ COST At 1 January 2021 - Additions 305,616 At 31 December 2021 305,616 DEPRECIATION At 1 January 2021 - Charge for year - At 31 December 2021 - NET BOOK VALUE At 31 December 2021 305,616 At 31 December 2020 - 11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Loan Rent Deposit |
Plant and machinery £ 4,114 1,070 5,184 1,528 1,296 2,824 2,360 2,586 |
Unrestricted fund £ 172,564 370,946 Fixtures and fittings Totals £ £ 6,590 10,704 - 306,686 6,590 317,390 4,416 5,944 1,647 2,943 6,063 8,887 527 308,503 2,174 4,760 31.12.21 31.12.20 £ £ 12,021 10,021 6,750 6,750 18,771 16,771 |
|---|---|---|
continued...
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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 2021
12. MOVEMENT IN FUNDS
| At 1.1.21 £ Unrestricted funds General fund 370,946 TOTAL FUNDS 370,946 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 181,267 TOTAL FUNDS 181,267 Comparatives for movement in funds At 1.1.20 £ Unrestricted funds General fund 172,564 TOTAL FUNDS 172,564 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 248,472 TOTAL FUNDS 248,472 |
Net movement At in funds 31.12.21 £ £ 68,836 439,782 68,836 439,782 Resources Movement expended in funds £ £ (112,431) 68,836 (112,431) 68,836 Net movement At in funds 31.12.20 £ £ 198,382 370,946 198,382 370,946 Resources Movement expended in funds £ £ (50,090) 198,382 (50,090) 198,382 |
|---|---|
continued...
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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 2021
12. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 1.1.20 £ 172,564 172,564 |
Net movement in funds £ 267,218 267,218 |
At 31.12.21 £ 439,782 |
|---|---|---|---|
| 439,782 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 429,739 429,739 |
Resources Movement expended in funds £ £ (162,521) 267,218 (162,521) 267,218 |
Resources Movement expended in funds £ £ (162,521) 267,218 (162,521) 267,218 |
|---|---|---|---|
| 267,218 |
13. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2021.
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THE APOSTLES' CONTINUATION CHURCH INTERNATIONAL - HACKNEY/SEVEN SISTERS ASSEMBLY
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021
| 31.12.21 | 31.12.20 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Tithe | 48,020 | 35,336 |
| Offering | 41,391 | 21,124 |
| Thanksgiving | 11,432 | 3,636 |
| Gift Aid | 28,190 | 27,611 |
| Pledges | 8,530 | - |
| 137,563 | 87,707 | |
| Other trading activities | ||
| Fundraising events | 34,742 | 9,390 |
| Welfare | 1,350 | 1,490 |
| Women's Fellowship | 397 | 155 |
| Men's Fellowship | - | 60 |
| 36,489 | 11,095 | |
| Investment income | ||
| Rents received | 7,200 | 4,600 |
| Deposit account interest | 15 | 502 |
| 7,215 | 5,102 | |
| Charitable activities | ||
| Amount previously written off | - | 144,568 |
| Total incoming resources | 181,267 | 248,472 |
| EXPENDITURE | ||
| Charitable activities | ||
| Rent & rates | 50,428 | 20,850 |
| Post, Stationery & Telephone | 1,863 | 1,088 |
| Sundries | 486 | 90 |
| Welfare | 3,310 | 3,583 |
| Travelling | 1,801 | - |
| 57,888 | 25,611 | |
| Other | ||
| Presbytery Mission & Visiting Pastors | 2,900 | 660 |
| Carried forward | 2,900 | 660 |
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 2021
| 31.12.21 | 31.12.20 | |
|---|---|---|
| £ | £ | |
| Other | ||
| Brought forward | 2,900 | 660 |
| Music Tutor/Instrumentalists | 11,045 | 3,224 |
| Allowances for Pastors & Appreciation | 21,600 | 14,400 |
| Other Ministry Expenses | 15,335 | 2,800 |
| Plant and machinery | 1,296 | 1,028 |
| Fixtures and fittings | 1,647 | 1,647 |
| 53,823 | 23,759 | |
| Support costs | ||
| Governance costs | ||
| Accountancy and legal fees | 720 | 720 |
| Total resources expended | 112,431 | 50,090 |
| Net income | 68,836 | 198,382 |
This page does not form part of the statutory financial statements
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