| Page | |||
|---|---|---|---|
| Legal and administrative information |
|||
| Report ofthe Trustees | |||
| Report ofthe auditors | 7-9 | ||
| Statement offinancial | activities | 10 | |
| Balance sheet | |||
| Notes to the financial | statements | 12-17 | |
| Detailed Income and expenditure | accounts | 18-19 |
| Trustees: | Patience Enenmoh | Patience Enenmoh |
|---|---|---|
| Olugbenga | Kunuyi | |
| Akinwale Olurebi |
||
| Registered office: | 65 Church | Street |
| Edmonton | ||
| Middlesex | ||
| N9 9PY | ||
| Charity number: | 115~3 | |
| Auditors: | Fairman Harris | |
| 1Landor Road | ||
| London | ||
| SW99RX | ||
| Bankers: | CAF Bank | |
| HSBC Bank Plc |
| Unrestricted | Restricted | 2020 | ||
|---|---|---|---|---|
| funds | funds | Total | ||
| Notes | ||||
| INCOMING RESOURCES | ||||
| W~v ' | ||||
| Donations, tithes and offerings |
258,526 | 258,526 | ||
| Other incomkt resources |
||||
| Gift aid receivable | 33,990 | 33,990 | ||
| Sundry income | 20,433 | 20,433 | ||
| Mission contribution received |
20,472 | 20,472 | ||
| Building fund | 23,700 | 23,700 | ||
| Total incoming resources | 357,121 | 357,121 | ||
| RESOURCES EXPENDED | ||||
| (Costs ofactivities infurtherance ofthe | ||||
| objects ofthe charity) | ||||
| Direct Charitable activities |
125,206 | 125,206 | ||
| Management and Support activities |
90,128 | 90,128 | ||
| Governance costs |
35,597 | 35,597 | ||
| Finance costs | 67,197 | 67,197 | ||
| Total resources expended | 318,129 | 318,129 | ||
| Net movement in funds for the period |
38,992 | 38,992 | ||
| Total funds brought forward | 232,244 | 232,244 | ||
| Revaluation reserve |
908,262 | 908,262 | ||
| Total Funds asat31December 2020 | 1,179,498 | 1,179,498 |
| Unrestricted | Restricted | 2020 | |||
|---|---|---|---|---|---|
| Notes | |||||
| FIXEDASSETS | |||||
| Tangible assets | 2,497,701 | 2,497,701 | |||
| Current assets | |||||
| Stock | 585 | 585 | |||
| Debtors and prepayments | 187,709 | 187,709 | |||
| Cash at bank and in | hand | 61,310 | 61,310 | ||
| 249,604 | 249,604 | ||||
| Creditors: amounts | falling due | ||||
| within | one year | (183,168) | (183,168) | ||
| Net current assets | 66,436 | 66,436 | |||
| Total assets less nm rent liabilities | 2~,137 | 2~,137 | |||
| Creditors: amounts | falling due after | ||||
| more than one year | 10 | (1,384,639) | (1,384,639) | ||
| 1,179,498 | 1,179,498 | ||||
| Finat~d by: | |||||
| Funds | 13 | 1,179,498 | 1,179,498 | ||
| Total funds | 1,179,498 | 1,179,498 |
| Cost/valuation | 1% | cost/valuation |
|---|---|---|
| Fixtures and fittings | 25% | reducing balance |
| Motor vehicles | 25% | reducing balance |
| Computer and other equipment |
25% | reducing balance |
| Total staff costs during the period | were: | |
|---|---|---|
| 2020 | ||
| Salaries and Wages | S4,749 | |
| No employee received remuneration | ofmore than f40,000. | |
| The average number ofemployees | during the year |
| Voluntary income |
||
|---|---|---|
| 2020 | ||
| Tithes and Offerings | 258,526 | |
| Building fund | 23,700 | |
| Gift Aid | 33,990 | |
| Other Income | 20,433 | |
| Mission contribution | received | 20,472 |
| 357,121 |
| 2020 | ||
|---|---|---|
| Auditor's | remuneration | 3,600 |
| Accountancy fees |
2,160 | |
| Legal and | professional | 29,837 |
| 35,597 |
| All assets are heldfo | r charitable purpo | ses | |||
|---|---|---|---|---|---|
| Fixtures Fs | Motor | ~om | uter | ||
| Cost | buildings | littlngs | vebtctes | ss~ui | ment t.' |
| Balances b/f | 1,791,738 | 6,300 | 15,000 | 26,719 | |
| Valuation/additions | 938,338 | 15,715 | |||
| Balances c/f | 2,730,076 | 6,300 | 15,000 | 42,433 | |
| Accumulated | |||||
| de reciation | |||||
| Balance b/f | 233,370 | 4,307 | 10,254 | 10,917 | |
| Charge for the year | 24,967 | 498 | 1,187 | 10,608 | |
| Balances c/f | 258,337 | 4,805 | 11,441 | 21,525 | |
| Net book value | |||||
| At 31/12/2020 | 2,471,739 | 1,495 | 3,560 | 20,908 |
| 2020 | ||
|---|---|---|
| Total | ||
| Cost | ||
| Balances | b/f | 1,839,757 |
| Valuation | /additions | 954,052 |
| Balances | c/f | 2,793,809 |
| Accumulated | de reciation | |
|---|---|---|
| Balance b/f | 258,848 | |
| Charge for the | year | 37,260 |
| Balances c/f | 296,108 | |
| Net book value | 2,497,701 |
| 8. | Debtors | 2020 | |
|---|---|---|---|
| Accrued income | 13,776 | ||
| Other Debtors | 173,933 | ||
| 187,709 | |||
| 9. | Creditors due within | 1year | 2020 |
| Loans and overdraft | 100,731 | ||
| Other creditors and accrual | 82,437 | ||
| 183,168 | |||
| 10. | Creditors due after 1year | 2020 | |
| Loans and overdraft | 1,384,639 |
| Balances at | Movement | in Resources | Balances at | ||
|---|---|---|---|---|---|
| 01/01/2020 | ~lncnmin | Outgooin, | 31/12/2020 | ||
| Unrestricted | funds | 232,244 | 357,121 | (318,129) | 271,236 |
| Revaluation | reserve | 908,262 | 908,262 | ||
| Restricted funds | |||||
| 232344 | 1,265,383 | (318,129) | 1,179,498 |
| Reconciliation | offunds - continued | |
|---|---|---|
| 2020 | ||
| Represented | by: | |
| Fixed Assets | 2,497,701 | |
| Current Assets | 249,604 | |
| Liabilities | (1,567,807 | |
| 1,179,498 |
| 2020 | ||||
|---|---|---|---|---|
| INCOME | ||||
| Donations, tithes and offerings: |
||||
| - Unrestricted | 258,526 | |||
| Other income | ||||
| Gift aid | 33,990 | |||
| Building fund | 23,700 | |||
| Sundry income | 20,433 | |||
| Mission contribution | received | 20,472 | ||
| 98,595 | ||||
| 357,121 | ||||
| EXPENDITURE | ||||
| Direct Charitabie Costs: | ||||
| Wages and salaries | 38,324 | |||
| Rates | 13,692 | |||
| Honorarium | 9,550 | |||
| Evangelism/outreach | work | 4,963 | ||
| Welfare support | 9,079 | |||
| Missions | 24,642 | |||
| Audio and visual | 21,554 | |||
| Publicity | 100 | |||
| Office/general | administration | 3,302 | ||
| 125,206 | ||||
| Management | &Support | |||
| Wages | 16,425 | |||
| Rates | 2,416 | |||
| Insurance | 3,063 | |||
| Light and heat | 22,856 | |||
| Telephone | 3,010 | |||
| 47,771 | ||||
| Balances carried forward | 172,977 | 357,121 |
| 2020 | ||
|---|---|---|
| Balances brought forward | 172,977 | |
| Management 4Support | - cont'd | |
| Computer and equipment |
expenses | 3,047 |
| Subscriptions | 456 | |
| Motor vehicle expenses | 1,594 | |
| Depreciation - Freehold property | 24,967 | |
| Depreciation - Fixture & | furnitures | 498 |
| Depreciation - Motor vehicles | 1,187 | |
| Depreciation - Computer | equipment | 10,608 |
| 42,357 | ||
| Governance costs: | ||
| &gal 4,Professional | 29,837 | |
| Auditor's remuneration |
3,600 | |
| Accountancy fees |
2,160 | |
| 35,597 | ||
| Finance Costs: | ||
| Bank charges | 40,568 | |
| Mortgage interests | 26,630 | |
| 67,197 | ||
| Surplus for the period |