OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2021-05-31-accounts

VICTORY OUTREACH MANCHESTER

(CHARITABLE INCORPORATED ORGANISATION)

ANNUAL REPORT AND FINANCIAL STATEMENTS YEAR ENDED 31ST MAY 2021

CHARITY REGISTRATION No: 1167670

VICTORY OUTREACH MANCHESTER (CHARITABLE INCORPORATED ORGANISATION)

CONTENTS

Page 3 Legal & Administrative Information Page 4 to 12 Trustees' Annual Report Page 13 Independent Examiner's Report on the Accounts Page 14 Statement of Financial Activities Page 15 Balance Sheet Pages 16 to 25 Notes to the Financial Statements

2

VICTORY OUTREACH MANCHESTER

(CHARITABLE INCORPORATED ORGANISATION)

LEGAL & ADMINISTRATIVE INFORMATION

CHARITY NUMBER

1167670

DATE OF REGISTRATION 16th June 2016

START OF FINANCIAL YEAR 1st June 2020

END OF FINANCIAL YEAR 31st May 2021

TRUSTEES AT 31ST MAY 2021 Mandlenkosi Walter Moyo Rev. Roger Ian Sutton Rev. David King Mrs Claudia Mason (appointed 10/09/2020) LEGAL STATUS Charitable Incorporated Organisation GOVERNING INSTRUMENT CIO Foundation Registered 16[th] June 2016 CORRESPONDENCE ADDRESS 19 Liverpool Street Salford M5 4LY PRIMARY BANKERS NatWest Bank Plc 182 Deansgate Manchester M3 3LY INDEPENDENT EXAMINER Daniel McGuren FMAAT CIMA Adv Dip MA 3 Chancet Wood Rise Sheffield S8 7TT

3

VICTORY OUTREACH MANCHESTER

(CHARITABLE INCORPORATED ORGANISATION)

TRUSTEES ANNUAL REPORTS FOR THE YEAR ENDED 31st May 2021

The Trustees present their report together with the financial statements of the charity for the year ended 31 May 2021. The financial statements have been prepared in accordance with the accounting policies set out on page 17 and comply with the Charity’s Trust Deed and applicable law.

These financial statements comply with the Charities Act 2011, the Articles of Association, and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to Charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS102) (Charities SORP (FRS102) and the Charities Act 2011).

OBJECTIVES AND ACTIVITIES

  1. The advancement of the Christian Faith in accordance with the statements of belief set out in the schedule appearing at the end of the Constitution and the worship of God in the said county and elsewhere and by any means whatsoever including (but not by way of limitation) the preaching and proclamation of the Christian Gospel and the teaching of Christian doctrine and principles and the pastoral care of Christian people and the printing and distribution of the Bible and Christian literature including video and audio recordings or CD's and by any other media which is or may become available.

  2. The relief of persons who are in conditions of need or hardship and consequently are in distress or who are sick.

  3. The advancement of education on the basis of the above Christian principles and without prejudice to the generality of the foregoing provisions of such education in any educational establishment and if the trustees so decide the provision of one or more charitable education establishments for the general education of children or adults on the basis of such Christian principles.

Victory Outreach is an International Christian Ministry orientated church called to the task of evangelising and discipling the hurting people of the world with the message of hope and the plan of Jesus Christ. This call involves a commitment to plant and develop churches, rehabilitation homes and training centres in strategic cities of the world. Victory Outreach inspires and instils within people the desire to fulfil their potentials in life with a sense of dignity, belonging and destiny.

ORGANISATIONAL STRUCTURE & DECISION MAKING

There is a Board of Trustees who meets regularly to make strategic decisions as well as a Business Executive Management Team, made up of Senior Pastoral Team and key Senior Staff of the church charity which holds regular weekly business meetings for the day-to-day operations of the church charity. As the church grows, capacity is being built with experts in finance and administration alongside identifying young talents for the future direction of the charity.

PUBLIC BENEFIT

The Charity acknowledges its requirement to demonstrate clearly that it must have charitable purposes or 'aims' that are for the public benefit. Details of how the charity 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.

4

VICTORY OUTREACH MANCHESTER

(CHARITABLE INCORPORATED ORGANISATION)

TRUSTEES ANNUAL REPORTS FOR THE YEAR ENDED 31st May 2021

REVIEW OF ACTIVITIES DURING THE YEAR 2020-21

Victory Outreach Manchester church charity, like many other similar organisations, has had a unique year, just as the charity was coming out of a tumultuous period with a glimmer of hope for a growth spun half year to May 2020, the pandemic struck. The Coronavirus 2019 – “Covid-19” saw quite a few changes come about in the way VO Manchester was able to operate. Due to Government restrictions on in person church services, from March 2020 all services were conducted online using Facebook and YouTube. For midweek meetings of all types, the online meeting format of Zoom was used.

These changes saw the need to upgrade our technological capacity, with new equipment needing to be bought to facilitate the new environment. This was done and is probably needing to be a constant exercise for the foreseeable future as the Pandemic continues. The online services saw an increase in people accessing our services.

Donations were also forced to go completely online, but even though there was a drop, we were still able to continue. Due to being a church, we had no recourse to any Government funding as we were unable to utilise the furlough scheme as a result of the specific roles and nature of our Staff. During this time, though, the church charity was able to continue to meet the needs of our congregants as well as the wider community. A Covid-19 Hardship Fund was set up to provide resources for anyone struggling during the lockdown. This included helping with bills as well as food. Food parcels from our Foodbank were delivered every week to those in need as part, arranged by our Pastoral Care Team.

The good news is the charity continued doing fruitful work in assisting men and women whose’ lives have been endangered by substance and alcohol misuse to become sober and clean with the added benefit of reducing reoffending. Further, a growing interest in family life and parenting among our community saw young people encouraged to engage with positive role models including Bible study groups, prayer meetings, music and drama. The charity remains the beacon of hope within the community it serves due to the uniqueness of what we do. This year, the charity owed its continued existence throughout the year to the unflinching dedication and support of our people and volunteers to the mission. Improving faith and wellbeing among our members and the community through teaching and outreach activities in the first half of the year, including weekly teachings and events reaching out to prostitutes, drug addicts, alcoholics, the homeless and the hurting people all over the city of Salford, Manchester and its environs.

5

VICTORY OUTREACH MANCHESTER

(CHARITABLE INCORPORATED ORGANISATION)

TRUSTEES ANNUAL REPORTS FOR THE YEAR ENDED 31st May 2021

KEY ACHIEVMENTS IN 2020-21

The Church saw additional resources spent on increasing help to substance misusers and addressing youth challenges, which made a positive impact on those families with relationships between father and daughter being restored.

6

VICTORY OUTREACH MANCHESTER

(CHARITABLE INCORPORATED ORGANISATION)

TRUSTEES ANNUAL REPORTS FOR THE YEAR ENDED 31st May 2021

FINANCIAL REVIEW

The trustees have prepared the accounting policies for the Victory Outreach Manchester in accordance with the requirements of the SORP and of best accounting practice.

Review of the period

During the year the baseline income decreased to £434,234 (2020: £549,655)

The costs went down to £394,409 (2020: £547,297), they were contained due to strong financial management and good cost control.

Income and Expenditure

Victory Outreach Manchester relies on voluntary income as its principal source of funding. Total donation amounted to £327,107 (2020: £398,897).

Income from Charitable activities amounted to £106,140 (2020: £117,013). Income from activities for generating funds amounted to £518 (2020: £15,124)

Investment income received in the year £24 (2020: £196)

Other Income received amounted to £445 (2020: £18,425)

The costs of fund generating activities were £1,802 (2020: £3,427).

Governance

The £3,900 ‘governance’ costs include the costs associated with independent examination of the accounts and other professional services in the year for financial and legal advice.

Surplus

Total of the incoming resources exceeded resources expended in the period by £39,825 (2020: £2,358), and this is held as unrestricted and restricted funds.

7

VICTORY OUTREACH MANCHESTER (CHARITABLE INCORPORATED ORGANISATION)

TRUSTEES ANNUAL REPORTS FOR THE YEAR ENDED 31st May 2021

RESERVES 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.

RISK ASSESSMENT

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 review of 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 business risks which they face and confirm that they have established systems to mitigate the significant risks.

8

VICTORY OUTREACH MANCHESTER (CHARITABLE INCORPORATED ORGANISATION)

TRUSTEES ANNUAL REPORTS FOR THE YEAR ENDED 31st May 2021

PLANS FOR THE YEAR AHEAD 2021-22

Due to Covid-19 being forecasted to continue for the foreseeable future probably beyond 2020, the church charity will continue to implement changes about the way it delivers on its charitable objects going forward.

The church plans to start in-person services around August -September 2020 depending on the easing of the lockdown or restrictions on in-person church services which started from March 2020.

Hence, to upgrade our place of worship to be fully covid-19 Health and Safety compliant ready by mid-August 2020.

From the start of the next year, June 2020, we aim to continue all services online using Facebook and YouTube. For midweek meetings of all types the online meeting format of Zoom will be used. We are doing all that we can to realign ourselves to continue to be relevant to our members and the larger community we serve through these challenges.

Key items on the agenda for next year are as follows:

Next year, we will organise Run for Hope (R4H) differently within restriction guidelines to support people willing to take part - as an ongoing fundraising initiative for ministry development which has mobilised hundreds of people to raise money for reaching vulnerable people across the UK.

Will continue the online teachings as part of our regular activities to provide on Zoom including:

9

VICTORY OUTREACH MANCHESTER (CHARITABLE INCORPORATED ORGANISATION)

Continue to maintain contact with congregation members via WhatsApp/Zoom/ telephone/email etc, as well as socially distanced visits when necessary.

To continue support to our two new churches courtesy United We Can fund in Birmingham and Glasgow with staff detached from Victory Outreach Manchester, because of many requests to do so and with a view to expand the ministry DNA of the church charity, in order to help more people in the same capacity in those cities.

As well as these exciting developments, we also aim to register a new, standalone CIO for an aspect of the ministry, called “Victory Homes” - which is a non- medicated sober living facility for people dealing with addiction and other life controlling problems. This is so vital so that this growing aspect could access all the resources necessary for it to function to its full capacity.

Another charity was also set in motion – VO Foundation is in the process of being registered as a resource base to cater for church plants and mission works for future ministry expansion throughout the UK.

New Trustees are being recruited to join the board as the tenure of the existing trustees come to an end in May 2020, new structures are being developed in terms of growth planning and policies and procedures continually being updated.

Due to the ongoing nature of Covid-19 restrictions, future plans for winter 2020, including Christmas, are being held to be more flexible than in past years.

10

VICTORY OUTREACH MANCHESTER

(CHARITABLE INCORPORATED ORGANISATION)

TRUSTEES ANNUAL REPORTS FOR THE YEAR ENDED 31st May 2021

TRUSTEES' RESPONISIBILITIES

The Charities Act 2011 require the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the CIO and of the surplus of the CIO for that period. In preparing those financial statements the trustees are required to:

The trustees are responsible for keeping proper accounting records, which disclose with reasonable accuracy at any time the financial position of the CIO. They are also responsible for safeguarding the assets of the CIO and hence for taking reasonable steps for the prevention and detection of fraud and other Irregularities.

The Trustees declare that they have approved the trustees’ report above

Signed on behalf of the charity’s Trustees

Signed by

Mw Moyo

Name : …Mandla Moyo…………………………..

Date : …22/07/2021……………………………..

11

VICTORY OUTREACH MANCHESTER

(CHARITABLE INCORPORATED ORGANISATION)

TRUSTEES ANNUAL REPORTS FOR THE YEAR ENDED 31st May 2021

RELATED PARTIES

A summary of transactions with related parties is set out in note 16 of the financial statements.

The trustees declare that they have approved the trustees' report above.

Signed on behalf of the charity's trustees.

Signed by

Mw Moyo

Name : …Mandla Moyo………………………..

Date : …22/07/2021…………………………..

12

VICTORY OUTREACH MANCHESTER (CHARITABLE INCORPORATED ORGANISATION)

INDEPENDENT EXAMINER'S REPORT ON THE ACCOUNTS

Report to the trustees/ members of Victory Outreach Manchester CIO on the accounts for the year ended 31st May 2021 set out on pages 14 to 25.

Respective responsibilities of trustees and examiner

The charity's trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed. I am qualified to conduct the independent examination as per the guidelines.

It is my responsibility to: examine the accounts under section 145 of the Charities Act, to follow the procedures laid down in the general Directions given by the Charity Commission (under section 14S(S)(b) of the Charities Act, and

to state whether particular matters have come to my attention

Basis of Independent Examiner’s statement

My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair' view and the report is limited to those matters set out in the statement below.

Independent examiner's statement

In connection with my examination, no matter has come to my attention:

  1. which gives me reasonable cause to believe that in, any material respect, the requirements: to keep accounting records in accordance with section 130 of the Charities Act; and to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act

have not been met; or

  1. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Daniel McGuren

Address: …3 Chancet Wood Rise, Sheffield S8 7TT………… Dated: ………July 2021

13

VICTORY OUTREACH MANCHESTER

(CHARITABLE INCORPORATED ORGANISATION)

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31st May 2021

Notes
INCOMING RESOURCES
Incoming resources from generating funds:
Donations and legacies
2a
Other income from Charitable activities
2b
Other Trading income
2c
Investment income
2d
Other Incoming Resources
2e
TOTAL INCOMING RESOURCES
RESOURCES EXPENDED
Charitable activities
3
Governance costs
5
TOTAL RESOURCES EXPENDED
NET(OUTGOING)/INCOMING
RESOURCES BEFORE TRANSFERS
TRANSFERS
Transfer between Funds
NET MOVEMENT IN FUNDS
RECONCILIATION OF FUNDS
Total Funds Brought Forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
Restricted
Funds
Funds
£
£
304,246
22,861
17,993
88,147
518
0
17
7
350
95
323,124
111,110
293,439
97,070
3,900
0
297,339
97,070
25,785
14,040
(19,315)
19,315		 Total
Total
2021
2020
£
£
327,107
398,897
106,140
117,013
518
15,124
24
196
445
18,425
434,234
549,655
390,509
542,607
3,900
4,690
394,409
547,297
39,825
2,358
0
0
6,470
33,355
61,290
108,884
67,760
142,239		 39,825
2,358
170,174
167,816
209,999
170,174

The charity has no recognised gains or losses other than the results for the year as set out above.

14

VICTORY OUTREACH MANCHESTER

(CHARITABLE INCORPORATED ORGANISATION)

STATEMENT OF FINANCIAL POSITION

FOR THE YEAR ENDED 31st May 2021

Note
FIXED ASSETS
Tangible fixed assets
8
CURRENT ASSETS
Debtors
9
Cash at bank and in hand
10
CREDITORS: Amounts falling due
within one year
11
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
CREDITORS: Amounts falling due
after more than one year
12
NET ASSETS
FUNDS OF THE CHARITY
Restricted Income Funds
13a
Unrestricted Income Funds
13		 2021
2020
£
£
122,371
131,767
122,371
131,767
3,551
23,426
151,393
102,135
154,944
125,561
26,657
40,658
128,287
84,903
250,658
216,670
(40,659)
(46,496)
209,999
170,174
142,239
108,884
67,760
61,290
209,999
170,174

These financial statements were approved by the trustees on 22 July 2021 and signed on their behalf by:

Signed …… MW Moyo ………………………………………………………

Print Name:….…Mandla Moyo…………………………………………………

15

VICTORY OUTREACH MANCHESTER (CHARITABLE INCORPORATED ORGANISATION)

CONSOLIDATED STATEMENT OF CASHFLOWS

FOR THE YEAR ENDED 31st May 2021

Cash flows from operating activities
Net cash received (spent)
Adjustments to cash from non-cash items
Depreciation
Working capital adjustments
Decrease/(increase) in debtors
Increase/(decrease) in creditors
Net cash flows from operating activities
Cash flows from investing activities
Interest received from savings
Disposals of tangible Fixed Assets
Purchase of tangible Fixed Assets
Net cash flows from investing activities
Cash flows from financing activities
(Repayment)/Addition of Loan during the period
Net cash flows from financing activities
Net (decrease)/increase in cash and cash equivalents
Cash and cash equivalents at 1 January
Cash and cash equivalents at 31 December		 2021
£
39,801
14,366
54,167
19,875
(19,656)
54,390
24
3,490
(8,460)
(4,946)
(182)
(182)
49,262
102,134
151,396		 2020
£
2,162
5,783
7,945
(22,726)
17,001
2,220
196
0
(11,445)
(11,249)
(341)
(341)
(9,370)
111,504
102,134

16

VICTORY OUTREACH MANCHESTER

(CHARITABLE INCORPORATED ORGANISATION)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MAY 2021

1. ACCOUNTING POLICIES

Basis of Preparation & Assessment of Going Concern Basis of Preparation

The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2015) - (Charities SORP - FRS102) and the Charities Act 2011.

The Charity meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost unless otherwise stated in the relevant accounting policy notes.

Assessment of Going Concern

Preparation of the accounts is on a going concern basis. The trustees consider that there are no material uncertainties about the Charity's ability to continue as a going concern.

Incoming Resources

Recognition of Incoming Resources

These are included in the Statement of Financial Activities (SOFA) when:

the trustees are virtually certain they will receive the resources; and

Incoming Resources with Related Expenditure

Where incoming resources have related expenditure (as with fundraising or contract income) the incoming resource and related expenditure are reported gross in the SOFA.

Grants and Donations

Grants and Donations are only included in the SOFA when the charity has unconditional entitlement to the resources.

Tax Reclaims on Donations and Gifts

Incoming resources from tax reclaims are included in the SOFA at the same time as the gift to which they relate.

Contractual Income and Performance Related Grants

This is only included in the SOFA once the related goods or services has been delivered.

Gifts in Kind

Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised. Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or distributed by the charity. Gifts in kind for use by the charity are included in the SOFA as incoming resources when receivable.

Donated Services and Facilities

These are only included in incoming resources (with an equivalent amount in resources expended) where the benefit to the charity is reasonably quantifiable, measurable and material. The value placed on these resources is the estimated value to the charity of the service or facility received.

Volunteer Help

The value of any voluntary help received is not included in the accounts.

Investment Income

This is included in the accounts when receivable.

17

VICTORY OUTREACH MANCHESTER

(CHARITABLE INCORPORATED ORGANISATION)

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31ST MAY 2021

1. ACCOUNTING POLICIES (continued)

Investment Gains and Losses

This included any gain or loss on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year.

Expenditure and Liabilities

Liability Recognition

Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources.

Governance Costs

Include costs of the preparation and examination of statutory accounts, the costs of the trustees’ meetings and cost of any legal advice to trustees on governance or constitutional matters.

Grants with Performance Conditions

Where the charity gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SOFA once the recipient of the grant has provided the specified.

Grants Payable without Performance Conditions

These are only recognised in the accounts when a commitment has been made and there are no conditions to be met relating to a grant which remain in control of the charity.

Support Costs

Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of the resources, for example allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.

Investments

Investments quoted on a recognised stock exchange are valued at market value at the year end. Other investment assets are included at trustees' best estimate of market value.

Pensions

Pension contributions are charged to the Statement of Financial Activities as they become payable.

Unrestricted funds

These funds can be used for the general objectives of the charity as set out in the trustees’ report. The movements of the unrestricted funds are given in the Statement of Financial Activities.

Restricted funds

These funds are where the donor has specified a purpose for the donation made. These restrictions often arise as a result of the regular appeals for special offerings and specific donations.

Designated funds

These funds are funds set aside by the trustees out of unrestricted general funds rind fenced for a particular purposes or projects.

Fixed Assets

Fixed Assets are capitalised if they can be used for more than one year and cost at least £500. They are valued at cost or, if gifted, at the value to the charity on receipt.

18

VICTORY OUTREACH MANCHESTER

(CHARITABLE INCORPORATED ORGANISATION)

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31ST MAY 2021

Amortisation on Land & Buildings

No amortisation is charged to freehold property as the property is maintained to such a standard that the estimated residual value is not less than cost.

Depreciation Expense

Depreciation is calculated at a rate to write off the cost of tangible fixed assets on a reducing balance basis over their estimated useful lives. The rates applied per annum are as follows: General Equipment 25% Fixtures & Fittings 10% Motor Vehicles 25%

19

VICTORY OUTREACH MANCHESTER

(CHARITABLE INCORPORATED ORGANISATION)

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31ST MAY 2021

2. INCOMING RESOURCES

2a Donations and legacies
Gifts Individuals
Tax Refund
Gifts in Kind
Grants received
2b Incoming Resources from Charitable Activities
Rent Received
GANG Retreat
Sundry Income
Events - Run4Hope
United We Can
2c Income from activities for generating funds
Fundraising Events
Other Sales Income
Event Income
2d Investment Income
Bank Interest Received
2e Other Incoming Resources
Sundry Income
Insurance Claim & Disposals
TOTAL INCOMING RESOURCES		 Unrestricted
Funds
Total
£
263,297
35,652
0
5,297
304,246
17,993
0
0
0
0
17,993
408
0
110
518
17
17
350
0
350
323,124		 Restricted
Funds
Total
£
466
10,565
0
11,830
22,861
0
0
0
13,367
74,780
88,147
0
0
0
0
7
7
95
0
95
111,110		 T O T A L
T O T A L
2021
2020
£
£
263,763
322,645
46,217
44,776
0
0
17,127
31,476
327,107
398,897
17,993
49,429
0
6,549
0
160
13,367
0
74,780
60,875
106,140
117,013
408
8,656
0
6,468
110
0
518
15,124
24
196
24
196
445
0
0
18,425
445
18,425
434,234
549,655

Many volunteers give freely of their time in the service of our Lord for the charity, the value of which is unquantifiable.

20

VICTORY OUTREACH MANCHESTER

(CHARITABLE INCORPORATED ORGANISATION)

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31ST MAY 2021

3.COSTS OF CHARITABLE ACTIVITIES BY FUND TYPE

Costs of Direct Charitable Activities
Support Costs		 Unrestricted
Funds
Total
£
293,439
3,900
297,339		 Restricted
Funds
Total
£
97,070
0
97,070		 T O T A L
T O T A L
2021
2020
£
£
390,509
542,607
3,900
4,690
394,409
547,297

4.COSTS OF CHARITABLE ACTIVITIES BY ACTIVITY TYPE

Costs of Generating Voluntary Income
Costs of Fund Generating Activities
Costs of Charitable Activities
Governance costs
Tithe to Related Charity		 Activities
undertaken
Total
£
23,382
1,802
365,325
0
5,927
390,509		 Support costs
Total
£
0
0
0
3,900
0
3,900		 T O T A L
T O T A L
2021
2020
£
£
23,382
23,298
1,802
3,427
365,325
515,882
3,900
4,690
5,927
0
394,409
547,297

5. GOVERNANCE COSTS

Independent examiner's fee
Other Governance costs		 Unrestricted
Funds
Total
£
850
3,050
3,900		 T O T A L
T O T A L
2021
2020
£
£
850
500
3,050
4,190
3,900
4,690

6. NET INCOMING RESOURCES

This is stated after charging:

6. NET INCOMING RESOURCES
This is stated after charging:
T O T A L T O T A L
This is stated after charging 2021 2020
£ £
Independent examiner's fee
Depreciation of owned assets		 850
14,366		 500
5,783

21

VICTORY OUTREACH MANCHESTER

(CHARITABLE INCORPORATED ORGANISATION)

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31ST MAY 2021

7. INFORMATION REGARDING TRUSTEES AND EMPLOYEES

Employee costs during the year:
Wages and salaries
Social security costs
Pension costs
Average number of staff employed:
Management
Others - Support		 T O T A L
T O T A L
2021
2020
£
£
128,029
150,811
6,148
11,176
2,632
3,706
136,808
165,693
No.
No.
0
0
1
1
6
7

Payments were made to the Senior Minister of Religion towards living and vehicle costs and treated as a Benefit In Kind and all relevant taxes paid - the total of £17, 388 (2020: £25, 249).

No employee received remuneration including benefits of more than £60,000 during the year ( 2020: Nil).

Amount paid or reimbursed to Trustees, in their capacity as Trustees £Nil (2020: £Nil).

8. FIXED ASSETS

Total
Cost
at 1 June 2020
Additions
Disposals
at 31 May 2021
Depreciation
at 1 June 2020
Charge for year
Disposals
at 31 May 2021
Net Book Value
at 31 May 2021
at 1 June 2020		 £
Land &
Building
100,000
0
0
100,000
0
0
0
0
100,000
100,000		 £
General
Equipment
47,041
8,460
0
55,501
32,205
11,865
0
44,070
11,431
14,836		 £
Fixtures &
Fittings
15,359
0
0
15,359
2,884
1,535
0
4,419
10,940
12,475		 £
£
Motor Vehicles
4,650
167,050
0
8,460
(4,650)
(4,650)
0
170,860
194
35,283
966
14,366
(1,160)
(1,160)
0
48,489
0
122,371
4,456
131,767

22

VICTORY OUTREACH MANCHESTER

(CHARITABLE INCORPORATED ORGANISATION)

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31ST MAY 2021

9. DEBTORS AND PREPAYMENTS

Prepayments and accrued income Unrestricted
Funds
£
3,301
3,301		 Restricted
Funds
£
250
250		 2021
2020
£
£
3,551
23,426
3,551
23,426

10. CASH AT BANK AND IN HAND

Current Accounts Unrestricted
Funds
£
29,598
29,598		 Restricted
Funds
£
121,795
121,795		 2021
2020
£
£
151,393
102,135
151,393
102,135

11. CREDITORS : AMOUNTS FALLING DUE WITHIN ONE YEAR

Bank loans & other loans, Credit cards & Overdrafts
Mortgage
Trade creditors
Other creditors
Accruals and deferred income		 Unrestricted
Funds
£
2,016
5,201
11,881
503
7,056
26,657		 Restricted
Funds
£
0
0
0
0
0
0		 2021
£
2,016
5,201
11,881
503
7,056
26,657		 2020
£
2,198
5,202
17,010
1,812
14,436
40,658

12. CREDITORS : AMOUNTS FALLING DUE AFTER ONE YEAR

Mortgage Unrestricted
Funds
£
40,659
40,659		 Restricted
Funds
£
0
0		 2021
2020
£
£
40,659
46,496
40,659
46,496

The mortgage with Kingdom Bank was used to purchase 83 Lower Seedley Road, Salford, M6 5WP on 9th August 2007, as a home for men suffering from substance misuse and prostitution. The original amount of the loan was £100,000, to be paid back over a 20-year period with maturity on the 9th August 2027. The interest rate applicable was 7.50% (2020: 7.50%).

23

VICTORY OUTREACH MANCHESTER

(CHARITABLE INCORPORATED ORGANISATION)

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31ST MAY 2021

13. RECONCILIATION OF MOVEMENTS IN FUNDS

13a. Restricted Funds
Unrestricted Funds
General Fund
13a. Restricted Funds
Covid19 - Hardship Fund
52nd Birthday Celebrations
Building Fund
United We Can
Community Wraparound Services		 Balance at
31-May-20
£
108,884
108,884
61,233
170,117
761
1
49,940
58,182
0
108,884		 Incoming
£
111,110
111,110
323,124
434,234
416
0
0
98,814
11,880
111,110
Movement		 Outgoing
£
(97,070)
(97,070)
(297,339)
(394,409)
(149)
0
0
(95,341)
(1,580)
(97,070)
in Resources		 Transfers
Between
Balance at
Funds
31-May-21
£
£
19,315
142,239
19,315
142,239
(19,315)
67,703
0
209,942
0
1,028
(1)
0
0
49,940
19,316
80,971
0
10,300
19,315
142,239

14. ANALYSIS OF NET ASSETS BY FUND

Restricted Funds
Unrestricted Funds		 Tangible
Fixed
Assets
£
0
0
122,371
122,371		 Net Current
Assets /
(Liabilities)
£
142,239
142,239
(14,009)
(14,009)		 Creditors
Due after
One Year
£
0
0
40,659
40,659		 TOTAL
£
142,239
142,239
67,703
209,942

15. OPERATING LEASE COMMITMENTS

Lease which expires
Within One year
After One Year		 Land and
Buildings
Equipment
£
£
37,000
4,708
18,504
127
55,504
4,835

24

VICTORY OUTREACH MANCHESTER (CHARITABLE INCORPORATED ORGANISATION)

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31ST MAY 2021

16. PAYMENTS TO TRUSTEES AND RELATED PARTY TRANSACTIONS

During the period the related party transactions were as stated below:

No payments were made to trustees, or any persons connected with them during this financial period. No other material transaction took place between the organisation and a trustee, or any person connected with them

Total donations made by the trustees to the charity during the period were £2,940

In November 2020 a new Charitable Incorporated Organisation (CIO) was registered as Project 67 (No 1192263) which took on the responsibilities of the Homes (sober living facilities) that had been part of Victory Outreach Manchester. All assets and liabilities relating to the homes were transferred to the new charity. Victory Outreach Manchester gave a donation of £5,927.

Victory Outreach Manchester gave £32,168 to churches planted by the Church

25