ASSEMBLY OF GOD PENTECOSTAL OF MACULUSSO
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31[ST] JULY 2021
CHARITY NUMBER: 1153149
ASSEMBLY OF GOD PENTECOSTAL OF MACULUSSO PRAISE HOUSE 37 TAMWORTH ROAD CROYDON CR0 1XT INDEX Page Index 1 Trustee’s Report 2-3 Independent Examiner’s Report 4 Statement of Financial Activities 5 Balance Sheet 6 Notes on the financial Statements 7 - 11
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TRUSTEES’ REPORT YEAR ENDED 31[ST] JULY 2021
The trustees are pleased to present their report for the year ended 31[st] July 2021 for the charity, Assembly of God Pentecostal of Maculusso with charity number 1153149.
The Trustees of the charity are: Pastor Joaquim Dias
Mr Wilson Da Silva
Ms Luzia Regina dos Santos Mr Deidy De Sousa, Mr Ivo Ribeiro Junior
The principal address of the charity is: 37 Tamworth Road Croydon CR0 1XT
STRUCTURE, GOVERNANCE AND MANAGEMENT
The Charity governing document is a declaration of trust that was executed 24[TH] June 2012.The Charity is governed by a board on which the trustees are represented. It meets regularly to review, plan activities and monitor the financial position.
OBJECTIVES AND ACTIVITIES
The Objects of the organisation are first to advance the Christian faith in accordance with the statement of beliefs for the benefit in the United Kingdom and in such other parts of the world as the trustees may think fit from time to time . The trustees confirm that they have had due regard to the guidance issued by the Charity Commission on public benefit before deciding what activities the charity should undertake.
ACHIEVMENTS AND PERFORMANCE
The Organisation continues to hold successful meetings through the year in which individuals were equipped and educated on the principles and doctrines of the Christian faith. The organisation also continued to hold several conferences during the year in which individuals came from all around the country to attend. This has produced good results in reaching and helping members of the community. The organisation covered the costs of accommodation and refreshments for guests that attended its conferences during the year. The organisation also continued to run services in Taunton to help people in that community.
The pandemic meant that all services were hosted online using ZOOM.
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FINANCIAL REVIEW
The income of the charity is above £70,000. This is a good amount for this year of the charity the costs have been well managed over this period. The organisation is still in a good position to manage its costs. The main cost of the organisation was paying for the rent of its building that it uses for worship services and running special programs.
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FUTURE DEVELOPMENTS
The church intends to continue to host its regular yearly conferences and weekly services in UK. The intended re-appointment of our present independent examiner at the upcoming trustee meeting is expected to support the financial operations by making it more effective.
RESERVE POLICY
It is the policy of the Charity to maintain unrestricted funds, which are the reserves of the charity at about 3 months of unrestricted expenditure .This provides sufficient funds to cover any emergency expenditures that may arise from time to time. The charity will seek to maintain this level throughout the year.
RISK MANAGEMENT
The charity have assessed all the major risks to which the charity is exposed to, in particular those related to operations and finances of the charity, and are satisfied that systems are in place to mitigate exposure to major risks.
TRUSTEE RESPONSIBILITIES
Under the Charities Act 2011,the trustees are required to prepare a statement of accounts for each accounting year which gives a true and fair view of the state of the church. They are required to:
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Select suitable accounting policies and apply them consistently.
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Make judgements and estimates that are reasonable and prudent.
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State whether the applicable accounting standards have been followed.
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Prepare financial statements on an ongoing basis.
They are responsible for keeping proper records which disclose with reasonable accuracy the finances of the church at any time and to ensure that such accounts comply with the Charities Act 2011.They also have a responsibility to safeguard the assets of the church and to take reasonable steps to detect fraud or other irregularities.
Approved by the Trustees on 5[th] January 2022 and signed on their behalf by:
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Independent Examiner’s Report To the Trustees ASSEMBLY OF GOD PENTECOSTAL OF MACULUSSO
I report on the accounts of the church for the year ended 31[st] July 2021 set out on the following pages which have been prepared on the basis of the accounting policies shown in the corresponding pages.
Respective responsibilities of trustees and examiner
The trustees of the church are responsible for the preparation of accounts: they consider that the audit requirement under section 144(2) of the Charities Act 2011 (the 2011 Act),does not apply. It is my responsibility to :
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Examine the accounts under section 145 of the 2011 Act.
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Follow the procedures laid down in the General Directions given by the Charity Commissioners made under section 145(5)(b) of the 2011 Act.
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State whether particular matters have come to my attention.
Basis of Independent examiner’s report
My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the church and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts.
Independent examiner’s statement
In the course of my examination, no matter has come to my attention;
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(1) which gives me reasonable cause to believe that, in any material aspect, the trustees have not met the requirements to ensure that:
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proper accounting records are kept( in accordance with section 130 of the 2011 Act
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accounts are prepared which agree with the accounting records and comply with the accounting requirements of the 2011 Act: or
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(2) to which , in my opinion , attention should be drawn in order to enable a proper understanding of the accounts to be reached
Chuks Ajuka BSc(Man), FICB PMDip FRESH FIRE ORGANISATION Generator Business Centre Mitcham Surrey CR4 3FH
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ASSEMBLY OF GOD PENTECOSTAL OF MACULUSSO
Statement of Financial Activities for the year ended 31st July 2021
| Unrestricted | Unrestricted | Total Funds | Total Funds | ||
|---|---|---|---|---|---|
| Funds | 2021 | 2020 | |||
| Incoming Resources from | £ |
£ | £ | ||
| generated funds | Note | ||||
| Donations and Legacie | 2 | 62442 | 62442 | 58090 | |
| Investment income | 3 | 0 | 0 | 0 | |
| ______ | |||||
| 62442 | 62442 | 58090 | |||
| Other Income | |||||
| Other | 8344 | 8344 | 0 | ||
| ______ | |||||
| Total Incoming | 70786 | 70786 | 58090 | ||
| Resources | |||||
| ______ | |||||
| Resources Expended | |||||
| Charitable activities in furtherance of objectives | |||||
| Cost of Activities | 6 | 56,787 | 56,787 | 55961 | |
| Other | 4 | 5267 | 5267 | 1850 | |
| ______ | |||||
| Total Resources | 62,054 | 62,054 | 57811 | ||
| Expended | ______ | ||||
| Net movement in funds | 8,732 | 8,732 | 279 | ||
| Reconciliation of Funds | |||||
| Total Funds brought forward | 59730 | 59730 | 59451 | ||
| Total Funds carried forward | 68,462 | 68,462 | 59730 |
The above funds are all classed as to purpose All movements of funds and all recognised gains and losses are included above.
The notes on the accounts form part of these accounts.
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ASSEMBLY OF GOD PENTECOSTAL OF MACULUSSO Balance Sheet as at 31st July 2021
| Note | 2021 | 2020 | |
|---|---|---|---|
| Fixed Assets | £ | £ | |
| Tangible fixed assets | 5 | 12719 | 13924 |
| _ _ |
|||
| 12719 | 13924 | ||
| _ _ |
|||
| Current Assets | |||
| Cash at bank and | 72463 | 73779 | |
| in hand | |||
| Debtors & prepayments | 10 | 9253 | 0 |
| 81716 | 73779 | ||
| Creditors:amounts falling due within one year | |||
| Creditors & accruals | 9 | 2973 | 2973 |
| Net Current Assets | 78743 | 70806 | |
| Creditors:amounts falling more than | one year | ||
| Loan | 11 | 23000 | 25000 |
| Net Assets | 68462 | 59730 | |
| Unresticted funds | 68462 | 59730 | |
| TOTAL FUNDS | 68462 | 59730 | |
| _ _ |
Approved by the Trustees on 5th January 2022 and signed on their behalf :
The notes on these accounts form part of these accounts.
ASSEMBLY OF GOD PENTECOSTAL OF MACULUSSO
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31[ST] July 2021
1.1 Basis of Accounting
These accounts have been prepared under the historic cost convention with items Recognised at cost or transaction values otherwise stated in the relevant note(s) to These accounts. The accounts have been prepared in accordance with: The Statement of Recommended Practice: Accounting and Reporting by Charities Preparing their accounts in accordance with the Financial Reporting Standard Applicable in the UK and Republic of Ireland (FRS102) issued on 16 July 2014.
- 1.2 Going Concern: The accounts are prepared on a going concern basis.
1.3 The accounts present a true and fair view and no change have been made to the accounting policies adopted.
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1.4 No changes to the accounting estimates have occurred in the reporting period
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1.5 No material prior year error have been identified in the reporting period.
Recognition of Income
These are included in the Statement of Financial Activities (SOFA) when:
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The charity becomes entitled to resources;
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It is more likely than not that the trustees will receive the resources;
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The monetary value can be measured with sufficient reliability.
Grants and Donations
Grants and Donations are only included in the SOFA when the general income recognition criteria are met (5.10 to 512 FRS102 SORP)
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Tax reclaim on donations and gifts
Gift Aid receivable is included in the income when there is a valid declaration from the donor. Any gift aid amount recovered on a donation is considered to be part of that gift and is treated in addition to the same fund as the initial donation unless the donor or the terms of the appeal have specified otherwise.
EXPENDITURE AND LIABILITIES
Liability Recognition
Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty.
Grants and Support Costs
Support costs have been allocated between the governance costs and other support. Governance costs comprise all costs involving public accountability of the charity and its compliance with regulation and good practice.
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ASSEMBLY OF GOD PENTECOSTAL OF MACULUSSO NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31[ST] JULY 2021
Creditors
The charity has creditors which are measured at settlement amounts less any trade discounts.
ASSETS
Tangible Fixed Assets for use by the charity
They are capitalised if they can be used for more than one year. They are valued at cost. The depreciation is calculated at 20% reducing balance method.
Debtors
Debtors are measured on initial recognition at settlement amount. Subsequently they are measured at cash.
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ASSEMBLY OF GOD PENTECOSTAL OF MACULUSSO Notes to the accounts for year ended 31st July 2021
2 Donations and Legacies
| Unrestricted | Unrestricted | Total funds | ||||
|---|---|---|---|---|---|---|
| Funds | 2021 | 2020 | ||||
| Church collections | £ | £ | £ | |||
| Tithes & Offerings | 62442 | 62442 | 58090 | |||
| Other | 0 | 0 | 0 | |||
| ______ | ||||||
| Total | 62442 | 62442 | 58090 | |||
| ______ | ||||||
| **3 ** | Investment income | |||||
| Unrestricted | Total funds | |||||
| Funds £ | 2021/£ | 2020/£ | ||||
| Bank Interest | 0 | 0 | 0 | |||
| **4 ** | Other | 2021/£ | 2020/£ | |||
| Missions | 4237 | 1286 | ||||
| Grants to Individuals < £1000 | 1030 | 564 | ||||
| Grants to Institutions | 0 | 0 | ||||
| ______ | ||||||
| 5267 | 1850 | |||||
| **5 ** | Tangible Fixed Assets | Instrument | Fix & fitt | Equipment | Total | |
| Cost | £ | £ | £ | |||
| At 01/08/2020 | 5154 | 2547 | 29295 | 36996 | ||
| Additions | 0 | 0 | 1973 | 1973 | ||
| ______ | ||||||
| At 31/07/2021 | 5154 | 2547 | 31268 | 38969 | ||
| Depreciation | ||||||
| At 01/08/2020 | 3400 | 1187 | 18485 | 23072 | ||
| charge for the year | 350 | 272 | 2556 | 3178 | ||
| ______ | ||||||
| At 31/07/2021 | 3750 | 1459 | 21041 | 26250 | ||
| Net Book Value at 31/07/2021 | 1404 | 235 | 10227 | 12719 | ||
| Net Book Value at 01/08/2020 | 1754 | 0 | 10810 | 13924 |
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ASSEMBLY OF GOD PENTECOSTAL OF MACULUSSO Notes to the accounts for the year ended 31st July 2021
| **6 ** | Cost of Activities in furtherance of Charity's Objectives 2021/£ 2020/£ Rent of building 17229 13342 Telephone 0 0 Maintenance/ Repair 0 0 Waste services 0 0 Stationary 181 1451 Travel costs 779 392 Admin costs 264 100 Light and Heat 1997 0 Subscriptions 0 129 Ministry expenses 2000 10006 Depreciation 3178 3481 Storage costs 5143 4871 Church programs 1726 0 Wages 16200 15000 Transport 0 2607 Hospitality 183 72 Welfare 1060 0 Insurance 710 647 Professional fees 492 392 Adverts 1181 0 Bank charges 0 0 PAYE costs 3738 0 Training 540 0 Supplies 79 559 Media supplies 107 704 Music services 0 0 Hotel/Accommodation 0 2208 Total 56787 55961 _______ |
|---|---|
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ASSEMBLY OF GOD PENTECOSTAL OF MACULUSSO Notes to the accounts for the year ended 31st July 2021
8 Trustee Remuneration
Pastor Joaquim was paid for pastoral services rendered to the charity. He was the only employee of the organisation.
9 Creditors: amounts falling due within one year
| 2021/£ | 2020/£ | ||
|---|---|---|---|
| Independent examination | 392 | 392 | |
| Creditors | 2581 | 2581 | |
| _ _ |
|||
| Total | 2973 | 2973 | |
| ______ | |||
| **10 ** | Debtors | ||
| 2021/£ | 2020/£ | ||
| Debtors | 9253 | 0 | |
| **11 ** | Creditors: amounts falling more than one year | ||
| 2021/£ | 2020/£ | ||
| Bounce back Loan | 23000 | 25000 |