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||||Page|
|---|---|---|---|
|Legal and administrative<br>information||||
|Report ofthe Trustees|||2-6|
|Report ofthe auditors|||7-10|
|Statement offinancial|activities|||
|Balance sheet|||12|
|Notes to the financial|statements||13-18|
|Detailed Income and|expenditure|accounts|19-20|





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|Trustees:|Patience Enenmoh|Patience Enenmoh|
|---|---|---|
||Olugbenga|Kunuyi|
||Akinwale|Olurebi|
|Registered office:|65 Church|Street|
||Edmonton||
||Middlesex||
||N9 9PY||
|Charity number:|1152463||
|Auditors:|Fairman Harris||
||1Landor|Road|
||London||
||SW99RX||
|Bankers:|CAF Bank||
||HSBC Bank Plc||





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||||Unrestricted|Restricted|2021|2020|
|---|---|---|---|---|---|---|
||||funds|funds|Total|Total|
|||Notes|||||
|INCOMING RESOURCES|||||||
|~Vl|||||||
|Donations,<br>tithes and offerings|||261,957||261,957|258,526|
|Other incomin<br>resources|||||||
|Gift aid receivable|||44,902||44,902|33,990|
|Sundry income|||15,000||15,000|20,433|
|Mission contribution<br>received|||11,340||11,340|20,472|
|Building fund||||||23,700|
|Total incoming resources|||333,199||333,199|357,121|
|RESOURCES EXPENDED|||||||
|(Costs ofactivities infurtherance|of the||||||
|objects ofthe charity)|||||||
|Direct Charitable<br>activities|||123,417||123,417|125,206|
|Management<br>and Support activities|||96,624||96,624|90,128|
|Governance<br>costs|||7,246||7,246|35,597|
|Finance costs|||45,291||45,291|67,197|
|Total resources expended|||272,578||272,578|318,129|
|Net movement<br>in funds for the|period||60,621||60,621|38,992|
|Total funds brought<br>forward|||1,179,498||1,179,498|232,244|
|Revaluation<br>reserve||||||908,262|
|Total Funds as at31December|2021||1,240,119||1,240,119|1,179,498|





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||||Unrestricted|Restricted|2021||
|---|---|---|---|---|---|---|
|||Notes|||||
|FIXEDASSETS|||||||
|Tangible assets|||2,467,817||2,467,817|2,497,701|
|Current assets|||||||
|Stock|||390||390|585|
|Debtors and prepayments|||169,330||169,330|187,709|
|Cash at bank and in hand|||59,206||59,206|61,310|
||||228,926||228,926|249,604|
|Creditors: amounts|falling due||||||
|within|one year||(100,794)||(100,794)|(183,168)|
|Net current assets|||128,132||128,132|66,436|
|Total assets less current liabilities|||2+95,948||2+95,948|2+64,137|
|Creditors: amounts|falling due after||||||
|more than one year||10|(1,355,829)||(1,355,829)|(1,384,639)|
|Net assets|||1,240,119||1,240,119|1,179,498|
|Financed by:|||||||
|Funds||12|1,240,119||1,240,119|1,179,498|
|Total funds|||1,240,119||1,240,119|1,179,498|





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|Total staff costs during the period|were:|||
|---|---|---|---|
|||2021|2020|
|Salaries and Wages||72,527|54,746|
|No employee received remuneration|ofmore than E60,000.|||
|The average number ofemployees|during the year|||





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|Voluntary<br>income||||
|---|---|---|---|
|||2021|2020|
|Tithes and Offerings||261,957|258,526|
|Building fund|||23,700|
|Gift Aid||44,902|33,990|
|Other Income||15,000|20,433|
|Mission contribution|received|11,340|20,472|
|||333,199|357,121|



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|||2021|2020|
|---|---|---|---|
|Auditor's|remuneration|3,600|3,600|
|Accountancy<br>fees||2,160|2,160|
|Legal and|professional|1,486|29,837|
|||7,246|35,597|



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|Finance costs|||
|---|---|---|
||2021|2020|
|Bank charges|580|40,568|
|Mortgage interest|44,711|26,630|
||45,291|67,198|



|||2021|2020|
|---|---|---|---|
|Depreciation||38,824|39,293|
|Auditors'|remuneration|3,600|3,600|





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|All assets are heldfo|r charitable purpos|es|||
|---|---|---|---|---|
||Land ik|Fixtures 4|Motor|~Com uter|
||buildiilgs|f~ltlin|vetdctes|e~ai ment|
|Cost|||||
|Balances b/f|2,730,076|6,300|15,000|42,433|
|Valuation/additions||||8,940|
|Balances c/f|2,730,076|6,300|15,000|51,373|
|Accumulated|||||
|Balance b/f|258,337|4,805|11,441|21,525|
|Charge for the year|24,717|374|890|12,843|
|Balances c/f|283,054|5,179|12,330|34,369|
|Net book value|||||
|At 31/12/2021|2,447,021|1,121|2,670|17,005|



||||2021|2020|
|---|---|---|---|---|
||||Total|Total|
|Cost|||||
|Balances|b/f||2,793,809|1,839,757|
|Valuation|/additions||8,940|954,052|
|Disposal|||||
|Balances|c/f||2,802,749|2,793,809|
|Accumulated||de reciation|||
|Balance b/f|||296,108|258,848|
|Charge for the||year|38,824|37,260|
|Disposal|||||
|Balances|c/f||334,932|296,108|
|Net book|value||2,467,817|2,497,701|





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|8.|Debtors|2021|2020|
|---|---|---|---|
||Prepayments<br>and accrued income|10,500|13,776|
||Other Debtors|158,830|173,933|
|||169,330|187,709|
|9.|Creditors due within 1year|2021|2020|
||Loans and overdraft|56,020|100,731|
||Other creditors and accruals|44,774|82,437|
|||100,794|183,168|
|10.|Creditors due after 1year|2021|2020|
||Loans and overdraft|1,355,829|1,384,639|



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|||Balances at|Movement|in Resources|Balances at|
|---|---|---|---|---|---|
|||01/01/2021|~lnconnn|O~nc oin|31/12/2021|
|Unrestricted|funds|271,236|333,199|(272,578)|331,857|
|Revaluation|reserve|908,262|||908,262|
|Restricted funds||||||
|||271,236|333,199|(272,578)|1,240,119|





|Reconciliation|offunds - continued|||
|---|---|---|---|
|||2021|2020|
|Represented|by:|||
|Fixed Assets||2,467,817|2,497,701|
|Current Assets||228,926|249,604|
|Liabilities||(1,456,624)|(1,567,807)|
|||1,240,119|1,179,498|



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||||||2021||2020||
|---|---|---|---|---|---|---|---|---|
|INCOME|||||||||
|Donations,<br>tithes arul offerings:|||||||||
||||Unrestricted|||261,957||258,526|
|Other income|||||||||
|Gift aid||||44,902|||33,990||
|Building fund|||||||23,700||
|Sundry income||||15,000|||20,433||
|Mission contribution|||received|11,340|||20,472||
|||||||71,242||98,595|
|||||||333,199||357,121|
|EXPENDITURE|||||||||
|Direct Charitable||Costs:|||||||
|Wages and salaries||||50,769|||38,324||
|Rates||||5,292|||13,692||
|Honorarium||||11,088|||9,550||
|Evangelism/outreach|||work|3,200|||4,963||
|Welfare support||||4,975|||9,079||
|Missions||||14,488|||24,642||
|Musician expenses||||29,681|||21,554||
|Publicity||||570|||100||
|Office/general|administration|||3,354|||3,302||
|||||123,417|||125,206||
|Management|&Support||||||||
|Wages||||21,758|||16,425||
|Rent and rates|||||||2,416||
|Premises maintenance||||14,081|||||
|Insurance||||2,795|||3,063||
|Light and heat||||13,508|||22,856||
|Telephone||||2,835|||3,010||
|||||54,977|||47,771||
|Balances carried forward||||178,394||333,199|172,977|357,121|





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||||2021||2020||
|---|---|---|---|---|---|---|
|Balances brought<br>forward||178,394||333,199|172,977|357,121|
|Management<br>&Support|-cont'd||||||
|Computer<br>and equipment|expenses|2,430|||3,047||
|Subscription<br>s<br>Motor vehicle expenses||393|||456<br>1,594||
|Depreciation<br>-Freehold property||24,717|||24,967||
|Depreciation<br>—Fixture &|furnitures|374|||498||
|Depreciation<br>-Motor vehicles||890|||1,187||
|Depreciation - Computer|equipment|12,843|||10,608||
|||41,647|||42,357||
|Governance costs:|||||||
|Legal &Professional||1,486|||29,837||
|Auditor's<br>remuneration||3,600|||3,600||
|Accountancy<br>fees||2,160|||2,160||
|||7,246|||35,597||
|Finance Costs:|||||||
|Bank charges||580|||40,568||
|Mortgage interests||44,711|||26,630||
|||45,291|||67,197||
|||||272,578||318,129|
|Surplus for the period||||60,621||38,992|