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|---|---|---|---|---|
|Legal and administrative||information|||
|Report ofthe Trustees||||2-6|
|Report ofthe auditors|||||
|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|Existing||
|---|---|---|---|
||Olugbenga
Kunuyi|Existing||
||Akinwale
Olurebi|Existing||
||Toluwalase A Atanda|Appointed|January 2022|
||George C.Eke|Appointed|January 2022|
|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|2022|2021|
|---|---|---|---|---|---|---|
||||funds|funds|Total|Total|
|||Notes|||K||
|INCOMING RESOURCES|||||||
|Donations,
tithes and offerings|||310,943||310,943|261,957|
|Other incomin
resources|||||||
|Gift aid receivable|||58,445||58,445|44,902|
|Sundry income
Mission contribution
received|||15,000
23,830||15,000
23,830|15,000
11,340|
|Building fund
Total incoming resources|||408,218||408,218|333,199|
|RESOURCES EXPENDED|||||||
|(Costs ofactivities infurtherance|of the||||||
|objects ofthe charity)
Direct Charitable
activities|||205,237||205,237|123,417|
|Management
and Support activities
Governance
costs|||101,806
10,550||101,806
10,550|96,624
7,246|
|Finance costs|||61,856||61,856|45,291|
|Total resources expended|||379,449||379,449|272,578|
|Net movement
in funds for the|period||28,769||28,769|60,621|
|Total funds brought
forward|||1,240,119||1,240,119|1,179,498|
|Revaluation
reserve|||||||
|Total Funds as at31December|2022||1,268,888||1,268,888|1,240,119|
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||||Unrestricted|Restricted|2022|2021|
|---|---|---|---|---|---|---|
|||Notes|||||
|FIXEDASSETS|||||||
|Tangible assets|||2,445,301||2,445,301|2,467,817|
|Current assets|||||||
|Stock|||295||295|390|
|Debtors and prepayments
Cash at bank and in hand|||166,879
25,724||166,879
25,724|169,330
59,206|
||||192,899||192,899|228,926|
|Creditors: amounts
within|falling due
one year||(66,081)||(66,081)|(100,794)|
|Net current assets|||126,818||126,818|128,132|
|Total assets less current liabilities|||2,572,119||2,572,119|2/95, 948|
|Creditors: amounts|falling due|after|||||
|more than one year||10|(1,303,230)||(1,303,230)|(1,355,829)|
|Net assets|||1,268,888||1,268,888|1,240,119|
|Financed by:
Funds||12|1,268,888||1,268,888|1,240,119|
|Total funds|||1,268,888||1,268,888|1,240,119|
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|Total staff costs during the period|were:|||
|---|---|---|---|
|||2022|2021|
|Salaries and Wages||71,530|72,527|
|No employee received remuneration|ofmore than f60,000.|||
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|Voluntary
income||||
|---|---|---|---|
|||2022|2021|
|Tithes and Offerings||310,943|261,957|
|Gift Aid||58,445|44,902|
|Other Income||15,000|15,000|
|Mission contribution|received|23,830|11,340|
|||408,218|333,199|
##
|The governance
costs ofthe charity consi|sted ofthe following costs:||
|---|---|---|
||2022|2021|
|Auditor's
remuneration|4,800|3,600|
|Accountancy
fees|3,500|2,160|
|Legal and professional|2,250|1,486|
||10,550|7,246|
##
|Finance|costs|||
|---|---|---|---|
|||2022|2021|
|Bank charges||284|580|
|Mortgage|interest|61,572|44,711|
|||61,856|45,291|
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|The net i|ncoming resources are stated aft|er charging
the following costs:||
|---|---|---|---|
|||2022|2021|
|Depreciation||35,827|38,824|
|Auditors'|remuneration|4,800|3,600|
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|All assets are heldfo|r charitable purpos|es|||||
|---|---|---|---|---|---|---|
||Land &|Fixtures|&|Motor|~Com|uter|
||b~utldtn|f~lttin||vebicies|~eui|ment|
|Cost||d|||||
|Balances b/f|2,730,076|6,300||15,000||51,373|
|Valuation/additions||||||13,312|
|Balances c/f|2,730,076|6,300||15,000||64,685|
|Accumulated|||||||
|de reciation|||||||
|Balance b/f|283,054|5,179||12,330||34,369|
|Charge for the year
Balances c/f|27,301
310,355|280
5,459||667
12,998||7,579
41,948|
|Net book value|||||||
|At 31/12/2022|2,419,720|||2,002||22,737|
|14August|201|9by Bruton Knowles LLP.|||
|---|---|---|---|---|
||||2022|2021|
||||Total|Total|
|Cost|||||
|Balances|b/f||2,802,749|2,793,809|
|Valuation|/additions||13,312|8,940|
|Disposal|||||
|Balances|c/f||2,816,061|2,802,749|
|Accumulated||de reciation|||
|Balance b/f|||334,932|296,108|
|Charge for the||year|35,827|38,824|
|Disposal|||||
|Balances|c/f||370,760|334,932|
|Net book|value||2,445,301|2,467,817|
##
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|8.|Debtors|2022|2021|
|---|---|---|---|
||Prepayments
and accrued income|20,575|10,500|
||Other Debtors|146,304|158,830|
|||166,879|169,330|
|9.|Creditors due witbin 1year|2022|2021|
||Loans and overdraft|57,781|56,020|
||Other creditors and accruals|8,300|44,774|
|||66,081|100,794|
|10.|Creditors due after 1year|2022|2021|
||Loans and overdraft|1,303,230|1,355,829|
||Creditors due after 5years|||
||Loans and overdraft|1,031,193|1,098,823|
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|||Balances at|Movement|in Resources|Balances at|
|---|---|---|---|---|---|
|||01/01/2022|~Incomin|~Out oIn|31/12/2022|
|Unrestricted|funds|331,857|408,218|(379,449)|360,626|
|Revaluation|reserve|908,262|||908,262|
|Restricted funds||||||
|||1,240,119|408,218|(379,449)|1,268,888|
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|ReconciTiation offunds - continued|ReconciTiation offunds - continued|||
|---|---|---|---|
|||2022|2021|
|Represented
Fixed Assets|by:|2,445,301|2,467,817|
|Current Assets||192,899|228,926|
|Liabilities||(1,369,311)|(1,456,624)|
|||1,268,888|1,240,119|
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||||||2022||2021||
|---|---|---|---|---|---|---|---|---|
|INCOME|||||||||
|Donations,
tithes and offerings:|||||||||
||||Unrestricted|||310,943||261,957|
|Other income|||||||||
|Gift aid||||58,445|||44,902||
|Sundry income||||15,000|||15,000||
|Mission contribution|||received|23,830|||11,340||
|||||||97,275||71,242|
|||||||408,218||333,199|
|EXPENDITURE|||||||||
|Direct Charitable||Costs:|||||||
|Wages and salaries||||50,071|||50,769||
|Rates||||6,145|||4,498||
|Honorarium||||19,199|||11,088||
|Donations||||6,941|||||
|Evangelism/outreach|||work|9,043|||3,200||
|Welfare support||||7,083|||4,975||
|Training||||3,150|||||
|Missions||||50,782|||14,488||
|Musician expenses||||47,050|||29,681||
|Publicity||||2,865|||570||
|Office/general|administration|||2,908|||3,354||
|||||205,237|||122,623||
|Management|&Support||||||||
|Wages||||21,459|||21,758||
|Rent and rates||||1,084|||794||
|Premises maintenance||||22,810|||14,081||
|Insurance||||2,990|||2,795||
|Light and heat||||14,467|||13,508||
|Telephone||||2,988|||2,835||
|||||65,798|||55,771||
|Balances carried forward||||271,035||408,218|178,394|333,199|
|||||2022||2021||
|---|---|---|---|---|---|---|---|
|Balances brought
forward|||271,035||408,218|178,394|333,199|
|Management|&Support|-cont'd||||||
|Computer
and equipment||expenses|180|||2,430||
|Subscriptions
Depreciation|- Freehold property||27,301|||393
24,717||
|Depreciation|- Fixture &|furnitures|280|||374||
|Depreciation|-Motor vehicles||667|||890||
|Depreciation|- Computer|equipment|7,579|||12,843||
||||36,007|||41,647||
|Governance|costs:|||||||
|Legal Sr,Professional
Auditor's
remuneration|||2,250
4,800|||1,486
3,600||
|Accountancy|fees||3,500|||2,160||
||||10,550|||7,246||
|Finance Costs:||||||||
|Bank charges|||284|||580||
|Mortgage interests|||61,572|||44,711||
||||61,856|||45,291||
||||||379,449||272,578|
|Surplus for|the period||||28,769||60,621|