## **APOSTOLIC FAITH MISSION LIVERPOOL (VESSELS OF HONOR WORSHIP CENTRE)**
**Financial Statements for the year ended 31 March 2021**
|**Contents**|**Page**|
|---|---|
|Trustees and Professional Advisors|2|
|Trustees Report|3-4|
|Independent Examiner Report|5|
|Statement of Financial Activity|6|
|Statement of Financial Position|7|
|Notes to the Financial Statements|8- 11|
Page **1** of **11**
**Registered Charity Number: 1161377**
**Trustees and Professional Advisors**
## **Principal Office:**
61 Goswell Street Wavertree Liverpool L15 4JT
## **Trustees:**
Ms Cecilia Ncube Miss Primrose Muparutsa
## **Bankers:**
HSBC 525 Prescot Road Old Swan Liverpool L13 5UU
## **Independent Examiners:**
Bilberry Accountants Limited Chartered Accountants Kingsgate, 62 High Street RH1 1SG Redhill
Page **2** of **11**
## **Report of the Trustees for the year ended 31 March 2021**
The AFM Liverpool Trustees present their annual report for the year ended 31 March 2021 under the Charities Act 2011, together with the annual accounts for the period and confirm that the latter comply with the requirements of the Charities Act, the Trust Deed and the Charities SORP 2005.
## **Structure, Governance and Management**
## **Governing Documents**
The Charity was established by a trust deed on the 17[th] of November 2011.
## **Governing Bodies**
The Trustees are responsible for:
- Appointing members of the administrative committee
- Policies and procedures for induction and training of trustees
- Organisational structure and interrelationships of component organs
- Monitoring the charity’s compliance with relevant laws and standards
## **Organisational Management**
The Board of Trustees delegate to any one or more of the Trustees the transaction of any business or performance of any act required to be transacted or performed in the execution of the trust of the Charity and which is within the professional or business competence of such Trustee or Trustees.
The Board of Trustees exercises reasonable supervision over any Trustee or Trustees acting on its behalf under this provision to ensure that all delegated acts and proceedings are duly, fully and promptly reported to them.
## **Objects, Aims, Objectives and Activities**
## **Charitable Objects**
- The advancement of the Christian religion according to the Holy Scriptures as contained in the Confession of Faith set out in the schedule hereto in the United Kingdom, and to such parts of the world, as the Trustees may from time to time determine.
- The relief of sickness and the promotion and preservation of good health by the provision of funds, goods, items or services and counselling support and prayers in the UK, or other parts of the World, as the Trustees may from time to time determine.
- The furtherance of such other purposes as are exclusively charitable under the laws of England and Wales as the Trustees from time to time determine.
## **Risk Management**
Trustees have the responsibility of measuring, tasking and taking action to control such risk in accordance with the Charity constitution and policies and procedures. Detailed consideration of risk is delegated to any one or more of the Trustees.
Risks are identified, assessed and controlled, established throughout the year informally. An informal review of the charities risk management process is undertaken on an annual basis.
Page **3** of **11**
Trustees continue to improve and ensure that the system of internal controls is adequate and cost effective. Through the risk management process established for the church, the trustees are satisfied that the major risks have been adequately mitigated where necessary.
It is recognised that systems can only provide reasonable but not absolute assurance that major risks have been adequately managed.
Due to the Current COVID 19 pandemic the Charity conducted the necessary risk assessments and followed National Guidelines. No face to face services were conducted, all services were conducted virtually during the reporting period.
## **Principal Activities and Key Achievements during the year**
## **Youth Department**
It has been a challenging year for the youth due to the COVID 19 pandemic.No face to face meetings were conducted for the Youth department due to the COVID 19 restrictions. The youth were involved in various online events on top of their own regular meetings. The most significant was the first ever virtual National Youth Conference that was held in August 2020. The Youth Business Entrepreneurship was another event that was empowering to the youth.
## **Ladies Union**
For 2020-2021 was another challenging year for the Ladies at Vessels of Honour. Virtual meetings, prayer sessions and fellowshipping via zoom has sustained the Ladies Union. The frequency of prayer sessions and Intersession were reviewed to daily morning and evening prayers and this has provided a support system for the Ladies union given challenges associated with isolating and lack of face to face contact.
## **Men’s Fellowship**
The Vessels of Honour men’s fellowship, the Courageous Men’s Fellowship, continued during the year despite challenges caused by the Covid 19 pandemic and the resultant national- lockdown.
## **Community Led Recovery Scheme Grant**
The Charity was awarded a £10 000 grant, and this was used to support varies activities to support church members and the community at large. Various events that included Well Being and Mental Health Issues, Domestic Violence/Abuse, Business Entrepreneurship, Culture were all conducted virtually with a variety of speakers participating in the events.
Approved by the Trustees: Primrose Muparutsa 27[th ] January 2022
Page **4** of **11**
## **Independent Examiner's Report**
The Management and Board of Trustees of Apostolic Faith Mission Liverpool Assembly (Vessels of Honor Worship Centre) who are registered as a charity, appointed me to independently examine their trustees' report, financial reports and the accompanying notes.
## **Responsibilities of Management and Board of Trustees**
- To safeguard the Charity's assets and in particular to ensure that the Financial Reports are free from material misstatements due to fraud.
- To keep adequate financial records and to ensure that the published reports are based on these records.
- To ensure that the published reports are true and fair.
- Consider their charity to qualify for an independent examination in terms of Part 8 and sections 145 and 152 of the Charities Act of 2011.
## **My Responsibility**
To carry out procedures such as analytical reviews, comparing the published reports to the financial records kept by the charity and enquiring from those tasked with the governance of the charity any matters that need clarity.
I also considered the disclosures of material facts in the financial reports and the going concern of the charity.
The nature and extent of my examination did not provide appropriate and adequate audit evidence and therefore no audit opinion is provided in this report.
## **Independent Examiner's statement**
In the course of my examination, no matters came to my attention which give me reasonable cause to believe that in any material respect the requirements:
- to keep accounting records in accordance with section 130 of the 2011 Act and Regulations of the 2008 Accounts Regulations
- the preparation of accounts which accord with the accounting records and comply with Regulations of the 2008 Accounts Regulations have not been met, or
- to which in my opinion, attention should be drawn to enable a proper understanding of the accounts to be reached.
## **Macjones Hunduza ACA**
**For and on Behalf of Bilberry Accountants Ltd Chartered Accountants**
> 29[th] January 2022
Page **5** of **11**
## **Statement of Financial Activity For the year ended 31 March 2021**
|Note
**Incoming Resources**
Voluntary Income
2
Activities for generating funds
Other Income
3
**Total Income Resources**
**Charitable Expenditure**
Ministry Costs
4
Church Governance
5
Support Costs
Church Running
**Total Resources Expended**
**Net movement in Funds**
**Fund balance brought forward**
**Fund balance carried forward**|**31 March**
31 March
**2021**
2020
**£**
£
**20,357**
20,222
**-**
1,205
**14,326**
4,297|
|---|---|
||**34,683**
25,724|
||**8,400**
8,400
**840**
840
**-**
1,515
**14,943**20,982|
||**24,183**
**31,737**|
|||
||**10,500**
(6,013)|
||**16,463**
23,757|
||**26,963**
17,744|
Page **6** of **11**
## **Statement of Financial Position As at 31 March 2021**
|Note
**Fixed Assets**
**Tangible assets**
6
**Current Assets**
Cash at bank and in hand
7
Trade and other debtors
8
**Liabilities**
**Creditors amounts falling within one year**
Trade and other creditors
9
**Net current Assets**
**NET ASSETS**
**CHARITY FUNDS**|**31 March**
31 March
**2021**
2020
**£**
£
**5,435**
1,506
**3,587**
2,623
**18,781**
14,455|
|---|---|
||**22,368**
17,078|
||**840**
840|
||**21,528**
16238|
|||
||**26,963**
17,744|
|||
||**26,963**
17,744|
The financial statements of Apostolic Faith Mission Vessels of Honor Worship Centre, charity number 1161377 were approved and authorized for issue by the Board of Trustees on **27[th] January 2022,**
## **Ms Cecilia Ncube**
Trustee
## **Miss Primrose Muparutsa**
Trustee
Page **7** of **11**
## **Notes to the Financial Statements for the year ended 31 March 2022**
## **1. Accounting Policy**
## **a) Basis of preparation**
The financial statements have been prepared under the historical cost convention and are in accordance with trust law, applicable accounting standards and the Statement of Recommended Practice, “Accounting and Reporting by Charities”, issued in March 2005.
## **b) Fund accounting**
Unrestricted funds are general funds that are available for use at the trustees’ discretion in furtherance of the objectives of the charity. Restricted funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
## **c) Incoming resources**
Voluntary income, including donations, gifts and legacies and grants that provide core funding or are of a general nature, are recognised where there is entitlement, certainty of receipt and the amount can be measured with sufficient reliability.
Investment income is recognised on a receivable basis.
Income from charitable activities includes income recognised as earned (as the related goods or services are provided) under contract where there is entitlement, certainty of receipt and the amount can be measured with sufficient reliability.
## **d) Resources expended**
Expenditure is recognised when a liability is incurred. Funding provided through contractual agreements and performance related grants are recognised as goods or services supplied.
Other grant payments costs of generating funds are those costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds.
Governance costs include those incurred in the governance of its assets and are primarily associated with constitutional and statutory requirements.
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, e.g. allocating office property costs by floor areas, management and human resources costs by the number of staff, and finance and IT costs by work done.
## **e) Donated Goods and volunteer and other donated services.**
Donated goods are recognised in different ways dependent on how they are used by the charity:
- (i) Those donated for resale produce income in the trading venture when they are disposed of. (ii) Those donated for onward transmission to beneficiaries (chiefly clothing, food and medical supplies) are included in the statement of financial activities as incoming resources and resources expended when they are distributed. They are valued at the amount the charity would have had to pay to acquire them.
The charity has not received any goods for use by the charity itself. The value of services provided by volunteers is not incorporated into these financial statements. Where services are provided to the charity as a
Page **8** of **11**
donation that would normally be purchased from our suppliers this contribution is included in the financial statements at an estimate based on the value of the contribution to the charity.
## **f) Taxation**
Irrecoverable VAT is not separately analysed and is charged to the statement of financial activities when the expenditure to which it relates is incurred and is allocated as part of the expenditure to which it relates.
Tax recovered from voluntary income received under gift aid is recognised when the related income is receivable and is allocated to the income category to which the income relates.
## **g) Tangible fixed assets and depreciation**
Tangible assets are stated at cost and depreciated over their useful economic lives at the following rates:
Fixture and fittings 4 years Equipment 4 years Computers 3- 4 years
Where the recoverable amount of a tangible asset is found to be below its net book value, the asset is written down to its recoverable amount and the loss on impairment is charged to the relevant expenditure category of the statement of financial activities.
Where an asset is not primarily used to generate income its impairment is assessed by reference to its service potential on its initial acquisition. The charity currently has no tangible fixed assets to which impairment provisions apply.
## **2. Voluntary Income**
|Designated
Tithe
Love offering|**2021**
2020
**£**
£
**-**
**1,096**
**13,672**
**7,751**
**6,685**
**11,375**|
|---|---|
||**20,357**
**20,222**|
## **3. Other Income**
|Gift aid accrued income
Community grant|**2021**
2020
**£**
£
**4,326**
**4,297**
**10,000**
**-**|
|---|---|
||**14,326**
**4,297 **|
Page **9** of **11**
## **4. Ministry Costs**
|Pastor’s allowance
**5. Church Governance**
Accountancy & bookkeeping fees|**2021**
2020
**£**
£
**8,400**
8,400|
|---|---|
||**8,400**
8,400|
||**2021**
2020
**£**
£
**840**
840|
||**840**
840|
## **6. Property Plant and Equipment**
|**Cost**
At 1 April 2020
Additions
**At March 2021**
**Depreciation**
At 1 April 2020
Charge during the period
**At March 2021**
**Net Book Value**
At 31 March 2020
**At 31 March 2021**|**Fixtures &**
**fittings**
2,510
-
**2,510**
1,004
502
**1,506**
1,506
**1,004**|**IT & Musical**
**Instruments**
6,204
**6,204**
1,773
**1,773**
-
**4,431**|**Total**
2,510
6,204|
|---|---|---|---|
||||**8,714**|
||||1,004
2,275|
||||**3,279**|
||||1,506|
||||**5,435**|
Page **10** of **11**
## **7. Cash and cash equivalent**
|Cash at bank|**2021**
2020
**£**
£
**3,587**
2,623|
|---|---|
||**3,587 **
4,242|
## **8. Trade and other debtors**
|Gift aid accrual|**2021**
2020
**£**
£
**18,781**
14,455|
|---|---|
||**18,781**
14,455|
## **9 Trade and other creditors**
|Accountancy fees|**2021**
2020
**£**
£
**840**
840|
|---|---|
||**840**
840|
## **10. Capital commitment**
There was no capital commitment in 2021 ( _2020: Nil_ )
Page **11** of **11**