REGISTERED COMPANY NUMBER: 08790991 (England and Wales) REGISTERED CHARITY NUMBER: 1157976
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 December 2020
for
Glory of God Mountain of Life Ministry
Glory of God Mountain of Life Ministry
Contents of the Financial Statements for the Year Ended 31 December 2020
| Page | |
|---|---|
| Report of the Trustees | 1 to 2 |
| Independent Examiner's Report | 3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 to 6 |
| Notes to the Financial Statements | 7 to 11 |
| Detailed Statement of Financial Activities | 12 |
Glory of God Mountain of Life Ministry
Report of the Trustees
for the Year Ended 31 December 2020
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2020. 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
Public benefit
The Board of Trustees are pleased to report as follows:
PUBLIC BENEFIT
The Advancement of Christian Faith
The Trustees of the Charity having due regard for the reporting of public benefit provided by the Charity in line with the Charities Act 2011, are pleased to report that the church has continued its involvement with community focused events and projects providing direct benefit for the public in the UK .
Places of Worship
The Charity has continued its commitment to the promotion of the Christian Faith by renting on a weekly basis a place at Employment Academy - First Flor, 1-4 Beresford Square, Woolwich, London, SE18 6BB to provide the public with the ongoing opportunity to attend Church services enabling them to grow and develop in the Christian faith, teachings and Principles.
The worship activities make provision for Christian Worship Services, teaching sessions, discipleship classes and prayer meetings throughout the week.
The Church also operates weekly meetings in different local locations for our discipleship classes a practical strategy for using informal settings to advance Christianity in our communities.
Evangelism
Evangelism is a core value and outreach strategy of our Church to reach out to communities. We distribute Christian Tracts in the community, speak to people in parks and public places about the Christian faith, provide light refreshments in parks as we look to engage the community to drive forward the Christian faith. We also collaborate with local churches to promote picnics and summer family fun days where food and drinks are provided, and local Mayors join us as we promote Christianity in the community.
The trustees have had regard to the Charity Commission's guidance on public benefit in managing the activities of the charity.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
08790991 (England and Wales)
Registered Charity number
1157976
Page 1
Glory of God Mountain of Life Ministry
Report of the Trustees for the Year Ended 31 December 2020
Registered office
First Floor 1 - 4 Beresford Square Woolwich London SE18 6BB
Trustees
J O Falana J V Erokwu L Okunzuwa O Edionwe S Okaka S B Oke
Company Secretary
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
.......................................................... Trustee
Page 2
Independent Examiner's Report to the Trustees of Glory of God Mountain of Life Ministry
Independent examiner's report to the trustees of Glory of God Mountain of Life Ministry ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2020.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
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.
Date: .............................................
Page 3
Glory of God Mountain of Life Ministry
Statement of Financial Activities
for the Year Ended 31 December 2020
| 31.12.20 | 31.12.20 | 31.12.19 | ||||||
|---|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | |||||
| fund | fund | funds | funds | |||||
| Notes | £ | £ | £ | £ | ||||
| INCOME AND ENDOWMENTS FROM | ||||||||
| Donations and legacies | 39,951 | - | 39,951 | 26,308 | ||||
| EXPENDITURE ON | ||||||||
| Raising funds | - | - | - | 468 | ||||
| Charitable activities | ||||||||
| Rent | - | - | - | 11,002 | ||||
| Other | 31,239 | - | 31,239 | 12,978 | ||||
| Total | 31,239 | - | 31,239 | 24,448 | ||||
| NET INCOME | 8,712 | - | 8,712 | 1,860 | ||||
| RECONCILIATION OF FUNDS | ||||||||
| Total funds brought forward | - | - | - | - | ||||
| TOTAL FUNDS CARRIED FORWARD | 8,712 | - | 8,712 | 1,860 | ||||
| Surplus and Deficit Account 968 | ||||||||
| Posting discrepancies were found in | the reserve accounts | listed | below. This | is | because th | |||
| brought forward postings in the current | year are | not equal to the figures | carried forward by IRIS | |||||
| the end of last year. Please check your | postings | in the brought forward account for | the surplus an | |||||
| deficit account 968. | ||||||||
| Unrestricted | ||||||||
| funds | Total funds | |||||||
| £ | £ | |||||||
| Brought forward - 968/1 | - | - | ||||||
| Carried forward | 1,860 | 1,860 | ||||||
| Difference | 1,860 | 1,860 |
Posting discrepancies were found in the reserve accounts listed below. This is because the brought forward postings in the current year are not equal to the figures carried forward by IRIS at the end of last year. Please check your postings in the brought forward account for the surplus and deficit account 968.
Post to relevant accounts (see ICHA chart of accounts for further details)
The notes form part of these financial statements
Page 4
Glory of God Mountain of Life Ministry
Balance Sheet
31 December 2020
| 31.12.20 | 31.12.19 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||
| fund | fund | funds | funds | ||
| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible assets | 5 | 6,603 | - | 6,603 | 6,603 |
| Investments | - | - | - | (26,360) | |
| 6,603 | - | 6,603 | (19,757) | ||
| CURRENT ASSETS | |||||
| Debtors | 6 | - | - | - | 20,550 |
| Cash in hand | 7,379 | - | 7,379 | 1,067 | |
| 7,379 | - | 7,379 | 21,617 | ||
| NET CURRENT ASSETS | 7,379 | - | 7,379 | 21,617 | |
| TOTAL ASSETS LESS CURRENT | |||||
| LIABILITIES | 13,982 | - | 13,982 | 1,860 | |
| CREDITORS | |||||
| Amounts falling due after more than one | |||||
| year | 7 | (5,270) | - | (5,270) | - |
| NET ASSETS/(LIABILITIES) | 8,712 | - | 8,712 | 1,860 | |
| FUNDS | 8 | ||||
| Unrestricted funds | 8,712 | 1,860 | |||
| TOTAL FUNDS | 8,712 | 1,860 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
Page 5
continued...
Glory of God Mountain of Life Ministry
Balance Sheet - continued
31 December 2020
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. Trustee
The notes form part of these financial statements
Page 6
Glory of God Mountain of Life Ministry
Notes to the Financial Statements
for the Year Ended 31 December 2020
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, 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 Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value.
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.
Taxation
The charity is exempt from corporation 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.
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.
Page 7
continued...
Glory of God Mountain of Life Ministry
Notes to the Financial Statements - continued for the Year Ended 31 December 2020
1. ACCOUNTING POLICIES - continued
Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
2. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
| 31.12.20 | 31.12.19 | |
|---|---|---|
| £ | £ | |
| Hire of plant and machinery | 4,387 | 11,002 |
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2020 nor for the year ended 31 December 2019.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2020 nor for the year ended 31 December 2019.
4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted Restricted fund fund £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 26,308 - EXPENDITURE ON Raising funds 468 - Charitable activities Rent 11,002 - Other 12,978 - Total 24,448 - NET INCOME 1,860 - TOTAL FUNDS CARRIED FORWARD 1,860 - |
Total funds £ 26,308 468 11,002 12,978 |
|---|---|
| 24,448 | |
| 1,860 | |
| 1,860 |
Page 8
continued...
Glory of God Mountain of Life Ministry
Notes to the Financial Statements - continued for the Year Ended 31 December 2020
| 5. | TANGIBLE FIXED ASSETS | |||||
|---|---|---|---|---|---|---|
| Fixtures | ||||||
| and | ||||||
| fittings | ||||||
| £ | ||||||
| COST | ||||||
| At 1 January 2020 and | ||||||
| 31 December 2020 | 6,603 | |||||
| NET BOOK VALUE | ||||||
| At 31 December 2020 | 6,603 | |||||
| At 31 December 2019 | 6,603 | |||||
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||||
| 31.12.20 | 31.12.19 | |||||
| £ | £ | |||||
| Trade debtors | - | 20,550 | ||||
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR | |||||
| 31.12.20 | 31.12.19 | |||||
| £ | £ | |||||
| Trade creditors | 5,270 | - | ||||
| 8. | MOVEMENT IN FUNDS | |||||
| Net | ||||||
| movement | At | |||||
| At 1.1.20 | in funds | 31.12.20 | ||||
| £ | £ | £ | ||||
| Unrestricted funds | ||||||
| General fund | - | 8,712 | 8,712 | |||
| TOTAL FUNDS | - | 8,712 | 8,712 | |||
| Net movement in funds, included in the above are as follows: | ||||||
| Incoming | Resources | Movement | ||||
| resources | expended | in funds | ||||
| £ | £ | £ | ||||
| Unrestricted funds | ||||||
| General fund | 39,951 | (31,239) | 8,712 | |||
| TOTAL FUNDS | 39,951 | (31,239) | 8,712 |
Page 9
continued...
Glory of God Mountain of Life Ministry
Notes to the Financial Statements - continued for the Year Ended 31 December 2020
8. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Net | |||
|---|---|---|---|
| movement | At | ||
| in funds | 31.12.19 | ||
| £ | £ | ||
| Unrestricted funds | |||
| General fund | 1,860 | 1,860 | |
| TOTAL FUNDS | 1,860 | 1,860 | |
| Comparative net movement in funds, included in the above are as follows: | |||
| Incoming | Resources | Movement | |
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 26,308 | (24,448) | 1,860 |
| TOTAL FUNDS | 26,308 | (24,448) | 1,860 |
| A current year 12 months and prior year 12 months combined position is as follows: | |||
| Net | |||
| movement | At | ||
| At 1.1.19 | in funds | 31.12.20 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | - | 10,572 | 10,572 |
| TOTAL FUNDS | - | 10,572 | 10,572 |
| A current year 12 months and prior year | 12 months combined net movement in fund | ||
| included in the above are as follows: | |||
| Incoming | Resources | Movement | |
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 66,259 | (55,687) | 10,572 |
| TOTAL FUNDS | 66,259 | (55,687) | 10,572 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
Page 10
continued...
Glory of God Mountain of Life Ministry
Notes to the Financial Statements - continued for the Year Ended 31 December 2020
9. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2020.
Page 11
Glory of God Mountain of Life Ministry
| Detailed Statement of Financial Activities | ||
|---|---|---|
| for the Year Ended 31 December 2020 | ||
| 31.12.20 | 31.12.19 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 39,951 | 26,308 |
| Total incoming resources | 39,951 | 26,308 |
| EXPENDITURE | ||
| Support costs | ||
| Management | ||
| Wages | 27,537 | 12,730 |
| Social security | 3,523 | 1,728 |
| Pensions | 607 | 468 |
| Rent | 4,387 | 11,002 |
| Postage and stationery | 46 | - |
| Staff Training and Welfare | 200 | - |
| Subscription | - | 162 |
| Fixtures and fittings | (6,340) | (6,340) |
| 29,960 | 19,750 | |
| Governance costs | ||
| Management Fees | 179 | 3,548 |
| Accountancy and legal fees | 1,100 | - |
| Accountancy fees | - | 1,150 |
| 1,279 | 4,698 | |
| Total resources expended | 31,239 | 24,448 |
| Net income | 8,712 | 1,860 |
This page does not form part of the statutory financial statements
Page 12