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2021-03-30-accounts

PECULIAR HOUSE CHURCH

Charity No. 1163479

Company No. CE004644

Trustees' Report and Unaudited Accounts for the Year Ending

31 March 2021

PECULIAR HOUSE CHURCH Contents

Pages
Trustees' Annual Report 2 to 4
Independent Examiner's Report 5
Statement of Financial Activities 6
Summary Income and Expenditure Account 7
Balance Sheet 8
Notes to the Accounts 9 to 14
Detailed Statement of Financial Activities 15 to 16

Page 1

PECULIAR HOUSE CHURCH 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 31 March 2021.

REFERENCE AND ADMINISTRATIVE DETAILS

Company No. CE004644

Charity No. 1163479

Principal Office

47 Rushey Green 2nd Floor Capital House Catford London SE6 4AS

Registered Office

47 Rushey Green 2nd Floor Capital House Catford London SE6 4AS

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:

O. Abuwa

T. Abuwa

N. Michael-Ihunde

C. Obi

Accountants

AccountSpot 20-20 Wenlock Road London N1 7GU

Bankers

Barclays Bank plc 93 Lewisham High St Lewisham London SE13 6BB

OBJECTIVES AND ACTIVITIES

THE OBJECT OF THE CIO IS FOR THE BENEFIT OF THE PUBLIC:

Page 2

PECULIAR HOUSE CHURCH

Trustees Annual Report

The main activities undertaken in relation to those purposes is advancement of the Christian faith in accordance with the statement of beliefs in such ways as the trustees deem fit.

Classification

What:

Who:

How:

ACHIEVEMENTS AND PERFORMANCE

Due to the pandemic caused by Covid-19, the Charity/Church was not meeting, we majorly held services/meetings through the Zoom video conferencing platform.

THE AUDACITY OF FAITH

This was a church programme organised for the spiritual benefit of the church members and wider community with a view to strengthen our faith and belief in Christian principles. This was the only indoor programme held in 2020 before the lockdown kicked in due to Covid-19 pandemic.

GODLY PARENTING

A family interactive programme held by the Charity on the Zoom video conferencing platform. This was with the aim of empowering the church members and the wider community with Godly standard of living in homes.

POWER IN THE BLOOD

This is an annual inter-denominational programme organised for church members and wider community on the Zoom video conferencing platform to give more credence and meaning to living the Christian life.

MANIFESTING LEADERSHIP

This is a church/charity programme organised by the church to benefit mainly the men in the church and in the wider community with view to impact and empower men in general to be able to lead by Godly principles in various facets of life. This was held on the Zoom video conferencing platform given the pandemic situation.

FINANCIAL REVIEW

At the end of the year the Charity had reserves of £0,00 (2020: £11,727). All the reserves are unrestricted. During the year the Charity spent £43,943 (2020: £43,943) on fulfilling the Charity’s objects.

The Trustees aim to maintain reserves in order to provide for the on-going maintenance of the halls, and any necessary modernisation.

STRUCTURE, GOVERNANCE AND MANAGEMENT Risk Assessment

Page 3

PECULIAR HOUSE CHURCH

Trustees Annual Report

The Trustees actively review the major risks which the charity faces on a regular basis and believe that maintaining the free reserves stated, combined with the annual review of the controls over key financial systems carried out on an annual basis will provide sufficient resources in the event of adverse conditions. The Trustees have also examined other operational and charity risks which they face and confirm that they have established systems to mitigate the significant risks.

Description of charity’s trusts:

Type of governing document:-

Constitution

How is the charity constituted?:-

Association

Trustee selection methods including details of any constitutional provisions e.g. election to post or name of any person or body entitled to appoint one or more trustees:-

Appointment

The Trustees have considered the level of reserves they wish to retain, appropriate to the charity's needs. This is based on the charity's size and the level of financial commitments held. The Trustees aim to ensure the charity will be able to continue to fulfil its charitable objectives even if there is a temporary shortfall in income or unexpected expenditure. The Trustees will endeavour not to set aside funds unnecessarily.

Reserve Policy

The Trustees have considered the level of reserves they wish to retain, appropriate to the charity's needs This is based on the charity's size and the level of financial commitments held. The Trustees aim to ensure the charity will be able to continue to fulfil its charitable objectives even if there is a temporary shortfall in income or unexpected expenditure. The Trustees will endeavour not to set aside funds unnecessarily.

Public Benefit

The CIO acknowledges its requirement to demonstrate clearly that it must have charitable purposes or ‘aims’ that are for the public benefit. Details of how the CIO has achieved this are provided in the Trustees' report. The Trustees confirm that they have paid due regard to the Charity Commission guidance on public benefit before deciding what activities the charity should undertake.

Trustees' Responsibilities

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

Rev T. Abuwa (Jan 6, 2022, 7:16pm) T. Abuwa

Trustee

31 March 2021

Page 4

PECULIAR HOUSE CHURCH Independent Examiners Report

Independent Examiner's Report to the trustees of PECULIAR HOUSE CHURCH

I report to the charity trustees on my examination of the accounts of PECULIAR HOUSE CHURCH for the year ended 31 March 2021 which comprise the Statement of Financial Activities, the Summary Income and Expenditure Account, the Balance Sheet and the related notes.

Responsibilities and basis of report

As the trustees of the charity (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 charity 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 can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that:

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.

AccountS ot p

AccountSpot (Dec 23, 2021, 12:58pm) AccountSpot 20-20 Wenlock Road London N1 7GU 31 March 2021

Page 5

PECULIAR HOUSE CHURCH Statement of Financial Activities

for the year ended 31 March 2021

Notes
Income and endowments
from:
Donations and legacies
4
Other
5
Total
Expenditure on:
Charitable activities
6
Other
7
Total
Net gains on investments
Net income
8
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
£
44,507
1		 Total funds
2021
£
44,507
1		 Total funds
2020
£
44,093
-
44,508
920
30,939		 44,508
920
30,939		 44,093
930
43,013
31,859
-		 31,859
-		 43,943
-
12,649
-		 12,649
-		 150
-
12,649 12,649 150
12,649
11,727		 12,649
11,727		 150
11,577
24,376 24,376 11,727

Page 6

PECULIAR HOUSE CHURCH Summary Income and Expenditure Account

for the year ended 31 March 2021

Income
Gross income for the year
Expenditure
Depreciation and charges for
impairment of fixed assets
Total expenditure for the year
Net income before tax for the year
Net income for the year		 2021
£
44,508
44,508
30,343
1,516
31,859
12,649
12,649		 2020
£
44,093
44,093
42,427
1,516
43,943
150
150

Page 7

PECULIAR HOUSE CHURCH Balance Sheet

at 31 March 2021

Company No.
CE004644
Notes
2021
£
Fixed assets
Tangible assets
10
6,119
6,119
Current assets
Cash at bank and in hand
17,852
17,852
Creditors:Amount falling due within one year
11
405
Net current assets
18,257
Total assets less current liabilities
24,376
Net assets excluding pension asset or liability
24,376
Total net assets
24,376
The funds of the charity
Restricted funds
12
Unrestricted funds
12
General funds
24,376
24,376
Reserves
12
Total funds
24,376		 2020
£
7,635
7,635
4,092
4,092
-
4,092
11,727
11,727
11,727
11,727
11,727
11,727

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 31 March 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 31 March 2021

And signed on its behalf by:

Rev T. Abuwa (Jan 6, 2022, 7:16pm)

T. Abuwa Trustee 31 March 2021

Page 8

PECULIAR HOUSE CHURCH Notes to the Accounts

for the year ended 31 March 2021

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

Income

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

PECULIAR HOUSE CHURCH Notes to the Accounts

Expenditure

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

PECULIAR HOUSE CHURCH 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

PECULIAR HOUSE CHURCH

Notes to the Accounts

3 Statement of Financial Activities - prior year

3
Statement of Financial Activities - prior year
Income and endowments from:
Donations and legacies
Total
Expenditure on:
Charitable activities
Other
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
Other income		 Unrestricted
£
44,507
44,507
Unrestricted
£
1
1		 Unrestricted
funds
2020
£
44,093
44,093
930
43,013
43,943
150
150
150
11,577
11,727
Total
2021
£
44,507
44,507
Total
2021
£
1
1		 Total funds
2020
£
44,093
44,093
930
43,013
43,943
150
150
150
11,577
11,727
Total
2020
£
44,093
44,093
Total
2020
£
-
-

Page 12

PECULIAR HOUSE CHURCH

Notes to the Accounts

Expenditure on charitable
activities
Governance costs
7
Other expenditure
Employee costs
Premises costs
Amortisation, depreciation,
impairment, profit/loss on
disposal of fixed assets
General administrative costs
Legal and professional costs
8
Net income before transfers
This is stated after charging:
Depreciation of owned fixed assets
9
Staff costs
Salaries and wages
No employee received emoluments in excess of £60,000.
10 Tangible fixed assets
Cost or revaluation
At 1 April 2020
At 31 March 2021
Depreciation and
impairment
At 1 April 2020
Depreciation charge for the
year
At 31 March 2021
Net book values
At 31 March 2021
At 31 March 2020		 Unrestricted
£
920
920
Unrestricted
£
-
24,000
1,516
4,883
540
30,939
2021
£
1,516
-
-
£
3,851
3,851
1,156
578
1,734
2,117
2,695		 Total
2021
£
920
920
Total
2021
£
-
24,000
1,516
4,883
540
30,939
£
6,252
6,252
1,312
938
2,250
4,002
4,940		 Total
2020
£
930
930
Total
2020
£
700
33,289
1,516
6,968
540
43,013
2020
£
1,516
700
700
£
10,103
10,103
2,468
1,516
3,984
6,119
7,635

Page 13

PECULIAR HOUSE CHURCH Notes to the Accounts

11 Creditors:
amounts falling due within one year
Bank loans and overdrafts
Accruals and deferred income		 2021
£
(406)
1
(405)		 2020
£
-
-
-
12 Movement in funds
Restricted funds:
Unrestricted funds:
General funds
Revaluation Reserves:
Total funds
13 Analysis of net assets between funds
Fixed assets
Net current assets
14 Reconciliation of net debt
Cash and cash equivalents
Net debt		 At 1 April
2020
11,727
11,727		 Incoming
resources
(including
other
gains/losses
)
£
44,508
44,508
At 1 April
2020
£		 Resources
expended
£
(31,859)
(31,859)
Unrestricted
funds
£
6,119
18,257
24,376
Cash flows
£		 At 31
March
2021
£
24,376
24,376
Total
£
6,119
18,257
24,376
At 31
March
2021
£
4,092 13,760 17,852
4,092
4,092		 13,760
13,760		 17,852
17,852
15 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

PECULIAR HOUSE CHURCH Detailed Statement of Financial Activities

for the year ended 31 March 2021

Income and endowments from:
Donations and legacies
Other
Total income and endowments
Expenditure on:
Charitable activities
Total of expenditure on charitable
activities
Salaries/wages
Premises costs
Rent
General administrative costs,
including depreciation and
amortisation
Depreciation of
Depreciation of
Subscriptions
Sundry expenses
Legal and professional costs
Accountancy and bookkeeping
Total of expenditure of other costs
Total expenditure
Net gains on investments
Net income
Net income before other
gains/(losses)
Other Gains		 Unrestricted
funds
2021
£
44,507
44,507
1
1
44,508
920
920
920
-
-
24,000
24,000
578
938
-
4,883
6,399
540
540
30,939
31,859
-
12,649
12,649
-		 Total funds
2021
£
44,507
44,507
1
1
44,508
920
920
920
-
-
24,000
24,000
578
938
-
4,883
6,399
540
540
30,939
31,859
-
12,649
12,649
-		 Total funds
2020
£
44,093
44,093
-
-
44,093
930
930
930
700
700
33,289
33,289
578
938
1,390
5,578
8,484
540
540
43,013
43,943
-
150
150
-

Page 15

PECULIAR HOUSE CHURCH Detailed Statement of Financial Activities

Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 12,649
11,727
24,376		 12,649
11,727
24,376		 150
11,577
11,727

Page 16