The Destlny Restoratlon Foundation Charity No. 1160650 Company No. 09011669 Tru5tees' Report and Unaudlted Attounts 30 Aprll 2022
The Destlny Restoratlon Foundatlon Contents Pages 2to3 Trustees. Annual Report Statement of Financial Activities to4 Summary Income and Expenditure Account Balance Sheet to5 to6 Statement of Cash fl¢)w5 to7 Note5 to the Accounts 8t013 Detailed Statement of Financial Attivities to14 Page I
The Oesiiny Re5toratlon Found•tlon Tru5tsesAnnual Report The trustees, who are also directors of the charity for the purp05e5 of the Compènies Art 2(X)6, present their report with the unaudited financial statement5 of the charityfor the year ended 30 April 2022. REFERENCE AND ADMINISTRATIVE DEfAI Company No. OWJ11669 Chaty No. 1160650 Reglstered Offlce Flat 6 Stephens Court 185 Hermit Road London E16 4LB Dlredw5 and Trustees The Directors of the charitable cornpany are Its Trustee5 for the purposes of tharity law. The following Dirertors and Trustees served during the year.. K. Kalungl H. Mukèsa J. Nabuma D. Okuku A¢¢ountants EBD ASSOCIATES 5A MARKFf5TREET EAST HAM E6 2RH OBJECTIVES A140 ACTIVITIES PaKe 2
The DestSny Re5toratSon Foundation TwsteesAhnu¥l RepDrt The purpose of the Charity as stt out in itsEovernillgdo¢ument.To promote and tnrthe Christian faith withln the community Infr3structure ihrough seminars and 0reaCh work acrossthe community sector. l. TrainiDgwork5hop5 based upon the Christian faith bui also on the %viderfanors that alsoaffect the Immedlate community such as Mental Health and economic deprivation. 2. A strong Ernphas15 on the work ¥vith youn8 pEople surroundingthelremotSonal well-belng 3. To prowde both educational knowledge and essential working 5ki115 arnong5t those deprived young adults through a dedlcated mentoring support program. Tru5tee5 Trustees. w*0 art all member5 of the Management Committee, and who served during the year are 5etout on p38e l. The Tiustees are elerted at the Annual General Meetin& lor membership of the Management Cornmitiee and serve until the end of the next Annual General Meetin8, where they can stand for re-election 35 members of the neY4 Executive Corntee. The m31n attivities of the organlzatlon over the pastyear Include promotlng Chrlstian worshlp, Trainlng Workshop5 and Comrnunity Outreach. l. Condurting ovt¢ei¢h proRfèm5 within the immediate surrounding tommuTritie5. 2. Providing sunday worship and mSdweek semces as well as to further enhance the suppDrt8roups Ilnked to the thurch orgaDisation. 3 RtBul¥r vi5ltatiDnS Wthin the lotal wmmufjity to prowdethe required 5UPPOrtI.e. work wih the elderly within the communlty. 4. To furtherenhance the work of those individuals within the comrnunity affected by enhanced emotional needs. This is prowded by a dedicated Coun5elliDg provi5i0n TheTru5tee5 are re5ponsiblefor keepin8proper accountiry record5that disclose ¥Yith rea50nableaccuracyat any time the financial position of the tharityand tv enabltthtrn to ensure th•tthefinan¢ial staternents comply with the Companies Act 2(M)6. The Trustees are also responsible for 5afeguardin8 the as5et5 of the charityand htnCEtakinK reasonable 5tep5forthe prevention alld detection of fraud and other irregularitie5. The above report ha5 been prepared In 3tcordance with the proS1on5 applicable tocompanles subjectto the small ¢ompanie5 re8ime a5 Set out in Part 15 ofthe CompaDies Act 2C#)6 and In accordancewith the Charities SORP IFRS 1021. Signed on behalf of the board ? LIUW. J. Natyum Trustee 31 Au¥u5t 2022 Page3
The Destlny Restoratlorl Foundatlon Statement of Flnancial Activitle5 for the year ended 30 Aprll 2022 Unrestrlcled lunds Totsl fvnds Total funds 2022 2022 iozi Notes Incorne and endowments trom: Donation5 and le8acie5 50.472 50,472 36,000 Total 50,472 50.472 36,0(H) Expendltuie on: Charitable attivities 46,617 46,617 35,308 Total 46.617 46.617 35,308 Net gains on investments 14et Income 3.855 3.855 692 Tron5fers between fvnds t4et Income before other galnsll1055es1 3.855 692 3.855 oihw 8aln$ and lo$se$ Net movement In funds 3.855 3,855 692 Reconrillation of fvnd$= Totsl funds tarrled forward 3,855 3.855 692 PaRe 4
The Destiny Restoratlon Foundatlon Summary Income and ExpendSture A¢count for the year ended 30 April 2022 2022 2021 Income 50.472 36.000 Gr055 Income for the year Expenditure 50.472 36,0(KJ 46,617 35.308 Total expenditure for the year Net incorne before tax for the year 46.617 35,308 3.855 692 Net Income for the year 3.855 692 Page 5
The De5tlny Restoratlon fouThdatlon Balance Sheet t 30 Aprll 2022 Compathy No. 09011669 Notes 20Z2 1021 Flxed assets TanKble asset5 358 436 358 436 Current a5s¢ts Cash at bank and in hand 6,340 6,340 11.5201 4.820 1,858 1,858 19701 Credllor5: Amount falllng due within one year Nèt turrent assets Tot*1 assets less current Ilabllltle5 5.178 1.324 1,324 Nèt assets exdudlfig penslon Isset or Ilablllty 5.178 Totsl net a$5ets 5.178 1.324 ThÉ funds of the tharlty Re$trirted funds Unrestrlrted funds General funds 3.855 3,855 Totsl funds 3,855 These accounts have been prepared in acwrdènce th the special prlS1onS of Part 15 of the Companies Act 2LXJ6 relating to 5rnall tompènies. For the yeèr ended 30 April 2022 the company was entitled to exemption under section 477 of the Companies Art 2(X)6 relating to small companie5. The members have not required the company to obtain an audit in actordanEe with 5ecti¢)n 476 of the Companies Art 2(K>6. The directors acknowledge their responsiblllties for comptying with the requirements of the Companies Act 2LX)6 with re5pett to accounting record5 and the preparation of account5. Approved Iyy the board on 31 AuEUSt 2022 And signed on Sts behalf by.. J. Nabuma Trustee 31 August 2022 Page 6
The Destlny Re5tot¥tlon Foundatlon ststementof Cash flow5 lorthe yoarended 30Aprfl 12 2022 ioii co%hfftO¥frorn artl¥ftle5 t4•t Income perSt•temw of FlnanrlJl A¢1111•5 3.855 692 justmèntsfor: DeprÈtiation of property. plant and equipmertt 78 95 Cash prLwlded by opwadng Kdvltles 3,933 787 Net slfroM Inb*stln8 act3 Netcash from fin$ acdvltles f4Et Intre•seln ¢ash and cash tlyalnts 3.93a 787 Cash •hd ush equlvJlerts•tthe b48knnlni of the y•or 1,858 C•sh •nd cash e4ulvJlethts8ttho end of th? 5,791 787 Components of r•sh 8nd L4sh equ1¢0 Cash and bank balances 6.340 1,858 6.340 1.858 Pa¥p 7
The Destiny Re5toratlon Foundatlon Note$ to the Accounts for the year ended 30 Aprll 2022 l Attouniing pollries Basls of preparation The financial stèternent5 have been prepared in accordance wSth Accounting and ReportinR by Charitie5'. Statement of Recommended Prattice applicable to charities preparing their account5 in accordance with the Financial Reporting Standard applicable in the UK gnd Republic of Ireland IFRS 1021 (effecti I January 20151 (Charities SORP IFRS 10211, the Financial Reporting Standard applicable in the UK and Republlc of Ireland IFRS 1021 and the Companies Act 2CX)6. Change In basls of attounting or to prevlou5 accounts There has been no change to the accounting policies lvaluation rules and method of accountSngl slnce last year and no change5 have been made to accounts for preV0S years. Fund •ttountin8 Unrestritted funds These are available for use at the discretion of the trustees in furtherante of the general objects of the charity. These are unrestricted funds earmarked by the trustees for particular purpose5. These #re unrestricted funds which include 3 revaluation reseNe representing the re5taternent of investment assets at their market values. Designated fund5 Revaluation funds Restritted funds These are available for use subjett to restrictions imposed by the donor or through terms of an appeal. Income Recognition of incorne Income is included in the Statement of Financial Attiwties ISOFAI when the charity becomes entitled to, and virtually £ertain to receive, the incorne and the amount of the income can be measured with Sufficient reliability. Income with relateé Where income has related expendSture the Income and related expenditu is expenditure reported gross in the SOFA. Donation5 and le8acies Voluntary Sncome re£eived by wèy of grants. donation5 and gifts 15 included in the the SOFA when receivable and only when the Charity has unconditional entitlement to the income. Tam reclaims on Income frorn tax reclaims is included In the SOFA at the same tlme as the donation5 and gifts gift/donztion to which it relates. Donated services These are only included in incorne (with an equivalent arnount in expenditurel whÈre the benefit to the Charity 15 re350nably qu3ntifi3ble. measurable and material. Volunteer help The value of any volunteer help received Is not included in the accounts. Inve5trnent incorne This is Included in the accounts when receivable. Gainslllossesl on Thls includes any gain or1055 re5ultin8 frorn revaluing investrnents to market value revaluatlon of fixed at the end of the year. assÈts G?in5111055e51 on investment assets This includes anyBain or lo on the sèle of investrnents. Page 8
The Oestlny Restoratlon Foundatlon Notestothe Accounts Expendlture Recognition of expenditure Expenditure Is recognised on an accruals basis. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relate5. Expenditure on These comprise the costs a5$0dated with attracting voluntary income. fundraisin8 raising fvnds trading ¢osts and investrnent management Costs. Expenditure on These comprise the c05t5 incurred bythe Charity in the delSvery of its activities an charitable activities serv4ces in the furtherance of its objetts. including the making of grant5 and governance Costs. All grant expenditure 15 accounted for on an actual paid basis plus an a¢crual for grants that have been approved by the trustees at the end of the year but not yet paid. These include those tosts a550ciated with meeting the constitutional and Statutory requirements of the Charity, including any èuditlindependent examination fees, costs linked to the strategic management of the Charity, together with a share of other 3dministration costs. Other expenditure These are support costs not allocated to a particular artivity. Grants payable Governance costs Taxatlon The Charity is exempt from corporation tax on its tharitable activfties. Freehold Invertment property Investment properties are measured initially at cost ènd subsequently at fair value at each balance sheet d3te and are not depreciated. All gains or1055es are taken to the Statement of Financial Activities as the arise. Stotks Stock is Included at the lower of cost or net realisable value. Donoted itern5 of stock ère recognised at fai value which 15 the amount the charity would have been willingto pay for the iterns on the open mzrkÈt. Trade and other debtors Trade and other debtors ère recognised at the settlement amount due after any trade di5wunt offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Cash and eash equlvalents Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original rnoturitie5 of three rnonths or less and bank overdraft. In the statement of financial position. bank overdrafts are shown within borrowings or current liabilities In the Statement of Cash Flows. tash ènd cash equivalents are shown net of bank overdrafts that are repayable on demand and forrn an integral part of the cornpany's cash management. Trnde and other credltors Short term creditors are measured at the transaction price. Other creditors and provision5 are recognisE 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 Jmount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognlsed at their settlement amount after allowing for any trade tliscount5 due. Page 9
The Desiiny Re5tor3tion Foundatlon Notes to the A¢¢ounts Research and development Expenditure on research and developrnent is written off in the year which it is incurred. Forel$n currendes Monetary assets and liabilities denominated in currencies other than the funcrional CurnC¥ of the charity are translated at the rates of exchange prevailin8 at the end of the portin8 period. Transattions in currencie5 Other than the functional currency of the charlty a recorded at the rate of exchange on the date that the transaction occurred. All exchange ijifferences are are taken into account in arriving at net incomelexpenditure. Leased assets Where the charity enter5 into a lease which entails taking substantlally all the risks and rewards of ownership of an a55et, 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 lease5. Assets held under finance lease5 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 payrnent5 are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remainlng balance of the liability. Finance expenses are reco8nised irnrnediately. unless they are directly attributable to qualifying assets. in wh*ch case they are capitalised in accordance with the charity's policy on borrowin8 Costs. Assets held under finance leases are depreclated in the same way as owned assets. Operating lease payments are recognised as an expense on a straight-line ba515 over the lease terrn. In the event that lease incentives are received to enter into operating leases. such incentives are recognised as a liability. The aggre8ate benefit of incentives 15 recognised a5 a reduction of rental expense on a straisht-line basis. Pension costs The charity operates a defined contrlbution plan for its employees. A defined contribution plan is 3 pension plan under which the company pays fixed contribution5 into a separate entity. Once the contributions have been paid the company has no fvrther payrnent5 obliéations. 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 cornpany in independently administered funds. Receipt of donated goods. fadlltles and str¥l¢e$ All donated g(x)ds, facilities and Services received are recognised within incoming resources and expenditure at an estimate of the value to the charity. 2 Cornpany status The company is a private company liMted by guarantee and consequently does not have share capital. Page 10
The Destiny Restoration Foundatlon Notes to the Accounts 3 statement of Fbnanclal AcllvStle5- prlor year Unrestri¢ted furfds Total funds 2011 2021 In¢ome and èndowrnents from: Donatlons and leg3cie5 Total 36,CO) 36,) 36,0(X) 36,LXX) Expendlture on: Charitable activities 35.308 35.308 Total 35.308 35.308 Net Income 692 692 Net In¢ome before other galnslllosse$l Other gains znd losses: Net mo¥ement In funds 692 692 692 692 R•tonclllation of funds: Totsl funds ¢arrled forward 692 692 4 Income frorn donatlons and legacles Unre5trlrted Total Total 2022 2021 33,230 17,242 50,472 33.230 17,242 50.472 36.c0 36.() 5 Expendlture on tharttable attle$ Unrestrirt•d Total Totsl 2022 2021 Expenditure on choritoble ctivitie5 42.739 42,739 35,213 Governonce costs Deprecation Charge Accountancy Fee Policy Update Consultancy Fee 78 78 95 550 550 1,750 1,5 46.617 1,750 1,500 46.617 35.308 Pa8e 11
The Destlny Re5toratlon Foundatlon Notes to the Accounts 6 Staff costs No employee received emoluments In excess of £60.CIXI. 7 Tanglble fixed assets Cost or revaluatlon At l May 2021 At 30 April 2022 Depre¢latlon and Impalrnient At l May 2021 Depreciation charge for the year At 30 April 2022 book values 950 950 950 950 514 514 78 78 592 592 AI 30 April 2022 At 30 April 2021 8 Creditor5: amount5 fallin8 due withln one year 358 3S8 436 436 2022 2021 Accruals 1.520 1.520 970 970 9 Mo¥ement In funds IncomSn¥ resource5 Ilndudln¥ other 8alnsllosses Resources expended At 30 April 2022 Restrlcted fvnds.. un$tl¢l¢d fvnds.. General funds 50,472 146,6171 3.855 Total funds 10 Analy515 of net 355ets b•twten funds 50,472 146.6171 3,855 Unrestrirted fvnds Restrlrted fvnds Total Fixed assets 358 11,5201 11,1621 358 4,820 5,178 Net current assets 6,340 6,340 Pa8e 12
The Destiny Restoratlon Foundatlon Notes to the Accounts 11 Recondllatlon of net debt Atlmay 2021 At 30 Aprfl 2022 Ca$h flows Cash and cash equivalents 1.858 1.858 4,482 4,482 6,340 6.340 Net debt 1.858 4.482 6,340 12 Related p•rty dix105ures Contmlllng porty The company is lirnited by guarantee and has no share capital,. thus no single party controls the company. Page 13
The De5tSny Restoratlon Foundatlon Detailed Ststement of Flnancizl ActSvltles for the year ended 30April 2022 Unrestricted fund5 2012 Totsl fund$ Total fund5 2022 2021 Incomt and endowments frorn: Donation5 and le83cies 33.230 17.242 50,472 33,230 17,242 50.472 36.(XYJ 36.0(X) Total Income and endowments 50,472 50.472 36,000 Expenditure on: Charitable actiwties 42.739 42.739 42,739 42,739 35.213 35.213 Governance costs Deprecation Charge Accountan Fee Policy Update Consultanry Fee 78 78 95 550 SSO 1,750 1,500 3,878 1.750 1.51Xl 3.878 95 Total of txpendlture on ¢harltable artSvltles 46.617 46.617 35,308 Totsl empendlture Net gains on investments 46.617 46.617 35,308 Net In¢ome 3,855 3,855 692 Net In¢omt before other galnslllossesl Other Gains 3.8gs 3,855 692 Net movement In fund5 3.855 3.855 692 Reconcillatlon of fvnds: Total funds brought forward Total fvnd$ carrled loard 3.855 3,855 692 Page 14