The Destiny Restoration Foundation
Charity No. 1160650
Company No. 09011669
Trustees' Report and Unaudited Accounts
30 April 2021
The Destiny Restoration Foundation Contents
| Pages | ||
|---|---|---|
| Trustees' Annual Report | 1 to 4 | |
| Statement of Financial Activities | 5 | |
| Summary Income and Expenditure Account | 6 | |
| Balance Sheet | 7 | |
| Statement of Cash flows | 8 | |
| Notes to the Accounts | 9 to | 14 |
| Detailed Statement of Financial Activities | 15 | to |
Page 1
The Destiny Restoration Foundation Trustees Annual Report
The Trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the unaudited financial statements of the charity for the year ended 30 April 2021.
REFERENCE AND ADMINISTRATIVE DETAILS
Company No. 09011669
Charity No. 1160650
Registered Office
Flat 6 Stephens Court 185 Hermit Road London E16 4LB
Directors and Trustees
The Directors of the charitable company are its Trustees for the purposes of charity law. The following Directors and Trustees served during the year:
S. Kawoya T.M. Lerch H.G. Mukasa V. Nzei-Buyinza
Accountants
EBD ASSOCIATES 5A MARKET STREET EAST HAM E6 2RH
OBJECTIVES AND ACTIVITIES
Page 2
The Destiny Restoration Foundation Trustees Annual Report
The purpose of the charity as set out in its governing document..To promote and enc the Christian faith within the community infrastructure through seminars and outreach work across the community sector.
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Training workshops based upon the Christian faith but also on the wider factors that also affect the immediate community such as Mental Health and economic deprivation.
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A strong Emphasis on the work with young people surrounding their emotional well-being
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To provide both educational knowledge and essential working skills amongst those deprived young adults through a dedicated mentoring support program.
Trustees
Trustees, who are all members of the Management Committee, and who served during the year are set out on page 1. The Trustees are elected at the Annual General Meeting, for membership of the Management Committee and serve until the end of the next Annual General Meeting, where they can stand for re-election as members of the new Executive Committee.
The main activities of the organization over the past year include promoting Christian worship, Training Workshops and Community Outreach.
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Conducting outreach programs within the immediate and surrounding communities.
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Providing Sunday worship and midweek services as well as to further enhance the support groups linked to the church organisation.
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Regular visitations within the local community to provide the required support i.e. work with the elderly within the community.
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To further enhance the work of those individuals within the community affected by enhanced emotional needs. This is provided by a dedicated Counselling provision.
A large charity must provide an explanation of its aims, including details of the issues it seeks to tackle and the changes or differences it seeks to make through its activities...
A large charity must provide an explanation how the achievement of its aims will further its legal purposes... A large charity must provide an explanation of its strategies for achieving its stated aims and objectives... A large charity must provide an explanation of its criteria or measures it uses to assess success in the reporting period...
A large charity should provide a more detailed explanation of its short-term and long-term aims and objectives...
ACHIEVEMENTS AND PERFORMANCE
A large charity must review its charitable activities undertaken, explaining performance achieved against objectives set ...
A large charity must include an explanation when material fundraising activities are undertaken, details of the performance achieved against fundraising objectives set ...
A large charity must provide an explanation when material investments are held, details of investment performance achieved against objectives set ...
A large charity must provide an explanation of any material expenditure occurred to raise income in the future...
A large charity must provide commentary on those significant positive and negative factors within and outside the charity's control which are relevant to the achievement of its objectives ...
PLANS FOR FUTURE PERIODS
A large charity must provide a summary of the charity's plans for the future including its aims and objectives and details of any plans to achieve them ...
A large charity's report should explain the trustees perspective of the future direction of the charity...
Page 3
The Destiny Restoration Foundation Trustees Annual Report
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP (FRS 102).
Signed on behalf of the board
S. Kawoya Trustee 30 April 2021
Page 4
The Destiny Restoration Foundation Statement of Financial Activities for the year ended 30 April 2021
| Notes Income and endowments from: Donations and legacies 4 Total Expenditure on: Charitable activities 5 Total Net gains on investments Net income Transfers between funds Net income before other gains/(losses) Other gains and losses Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
Unrestricted funds 2021 £ 36,000 |
Total funds 2021 £ 36,000 |
Total funds 2020 £ 33,000 |
|---|---|---|---|
| 36,000 35,308 |
36,000 35,308 |
33,000 31,479 |
|
| 35,308 - |
35,308 - |
31,479 - |
|
| 692 - |
692 - |
1,521 - |
|
| 692 | 692 | 1,521 | |
| 692 2,681 |
692 2,681 |
1,521 1,160 |
|
| 3,373 | 3,373 | 2,681 |
Page 5
The Destiny Restoration Foundation Summary Income and Expenditure Account for the year ended 30 April 2021
| Income Gross income for the year Expenditure Total expenditure for the year Net income before tax for the year Net income for the year |
2021 £ 36,000 36,000 35,308 35,308 692 692 |
2020 £ 33,000 |
|---|---|---|
| 33,000 | ||
| 31,479 | ||
| 31,479 | ||
| 1,521 | ||
| 1,521 |
Page 6
The Destiny Restoration Foundation Balance Sheet
at 30 April 2021
| Company No. 09011669 Notes 2021 £ Fixed assets Tangible assets 7 436 436 Current assets Cash at bank and in hand 3,907 3,907 Creditors:Amount falling due within one year 8 (970) Net current assets 2,937 Total assets less current liabilities 3,373 Net assets excluding pension asset or liability 3,373 Total net assets 3,373 The funds of the charity Restricted funds 9 Unrestricted funds 9 General funds 3,373 3,373 Reserves 9 Total funds 3,373 |
2020 £ 531 |
|---|---|
| 531 3,120 |
|
| 3,120 (970) |
|
| 2,150 2,681 |
|
| 2,681 | |
| 2,681 | |
| 2,681 | |
| 2,681 | |
| 2,681 |
These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
For the year ended 30 April 2021 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
Approved by the board on 30 April 2021
And signed on its behalf by:
S. Kawoya Trustee 30 April 2021
Page 7
The Destiny Restoration Foundation Statement of Cash flows for the year ended 30 April 2021
| Cash flows from operating activities Net income per Statement of Financial Activities Adjustments for: Depreciation of property, plant and equipment Net cash provided by operating activities Net cash from investing activities Net cash from financing activities Net increase in cash and cash equivalents Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year Components of cash and cash equivalents Cash and bank balances |
2021 £ 692 95 787 - - 787 3,120 3,907 3,907 3,907 |
2020 £ 1,521 116 |
|---|---|---|
| 1,637 | ||
| - | ||
| - | ||
| 1,637 | ||
| 1,483 | ||
| 3,120 | ||
| 3,120 | ||
| 3,120 |
Page 8
The Destiny Restoration Foundation Notes to the Accounts
for the year ended 30 April 2021
- 1 Accounting policies
Basis of preparation
The financial statements have been prepared in accordance with 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 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Change in basis of accounting or to previous accounts
There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.
Fund accounting
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Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.
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Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values.
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Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.
Income
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Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability.
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Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA. Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income.
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Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material.
Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets
Page 9
The Destiny Restoration Foundation Notes to the Accounts
Expenditure
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Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which it relates.
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Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs.
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Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
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Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.
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Other expenditure These are support costs not allocated to a particular activity.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Freehold investment property
Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise.
Stocks
Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.
Trade and other debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.
Trade and other creditors
Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
Page 10
The Destiny Restoration Foundation Notes to the Accounts
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
Foreign currencies
Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period.
Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred.
All exchange differences are are taken into account in arriving at net income/expenditure.
Leased assets
Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.
Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases.
Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs.
Assets held under finance leases are depreciated in the same way as owned assets.
Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.
Pension costs
The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.
Receipt of donated goods, facilities and services
All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.
2 Company status
The company is a private company limited by guarantee and consequently does not have share capital.
Page 11
The Destiny Restoration Foundation Notes to the Accounts
3 Statement of Financial Activities - prior year
| Income and endowments from: Donations and legacies Total Expenditure on: Charitable activities Total Net income Net income before other gains/(losses) Other gains and losses: Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward 4 Income from donations and legacies 5 Expenditure on charitable activities Expenditure on charitable activities Governance costs |
Unrestricted £ 36,000 36,000 Unrestricted £ 35,213 95 35,308 |
Unrestricted funds 2020 £ 33,000 33,000 31,479 31,479 1,521 1,521 1,521 1,160 2,681 Total 2021 £ 36,000 36,000 Total 2021 £ 35,213 95 35,308 |
Total funds 2020 £ 33,000 |
|---|---|---|---|
| 33,000 31,479 |
|||
| 31,479 | |||
| 1,521 | |||
| 1,521 | |||
| 1,521 1,160 |
|||
| 2,681 | |||
| Total 2020 £ 33,000 |
|||
| 33,000 | |||
| Total 2020 £ 31,363 116 |
|||
| 31,479 |
6 Staff costs
No employee received emoluments in excess of £60,000.
Page 12
The Destiny Restoration Foundation Notes to the Accounts
7 Tangible fixed assets
| Cost or revaluation At 1 May 2020 At 30 April 2021 Depreciation and impairment At 1 May 2020 Depreciation charge for the year At 30 April 2021 Net book values At 30 April 2021 At 30 April 2020 8 Creditors: amounts falling due within one year Accruals and deferred income |
2021 £ 970 970 |
£ 950 950 419 95 514 436 531 |
£ 950 |
|
|---|---|---|---|---|
| 950 | ||||
| 419 95 |
||||
| 514 | ||||
| 436 | ||||
| 531 | ||||
| 2020 £ 970 |
||||
| 970 | ||||
| 9 Movement in funds Restricted funds: Unrestricted funds: General funds Revaluation Reserves: Total funds 10 Analysis of net assets between funds Fixed assets Net current assets |
At 1 May 2020 2,681 2,681 |
Incoming resources (including other gains/losses ) £ 36,000 36,000 Unrestricted funds £ - 2,937 2,937 |
Resources expended £ (35,308) (35,308) Restricted funds £ 436 - 436 |
At 30 April 2021 £ 3,373 |
| 3,373 | ||||
| Total £ 436 2,937 |
||||
| 3,373 |
Page 13
The Destiny Restoration Foundation Notes to the Accounts
11 Reconciliation of net debt
| Cash and cash equivalents Net debt |
At 1 May 2020 £ |
Cash flows £ |
At 30 April 2021 £ |
|---|---|---|---|
| 3,120 | 787 | 3,907 | |
| 3,120 3,120 |
787 787 |
3,907 | |
| 3,907 |
12 Related party disclosures Controlling party
The company is limited by guarantee and has no share capital; thus no single party controls the company.
Page 14
The Destiny Restoration Foundation Detailed Statement of Financial Activities
for the year ended 30 April 2021
| Income and endowments from: Donations and legacies Total income and endowments Expenditure on: Charitable activities Governance costs Total of expenditure on charitable activities Total expenditure Net gains on investments Net income Net income before other gains/(losses) Other Gains Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
Unrestricted funds 2021 £ 36,000 36,000 36,000 35,213 35,213 95 95 35,308 35,308 - 692 692 - 692 2,681 3,373 |
Total funds 2021 £ 36,000 36,000 36,000 35,213 35,213 95 95 35,308 35,308 - 692 692 - 692 2,681 3,373 |
Total funds 2020 £ 33,000 |
|---|---|---|---|
| 33,000 | |||
| 33,000 31,363 |
|||
| 31,363 | |||
| 116 | |||
| 116 | |||
| 31,479 31,479 - |
|||
| 1,521 | |||
| 1,521 - |
|||
| 1,521 | |||
| 1,160 | |||
| 2,681 |
Page 15