2021-06-30-accounts

Charity registration number: 1167814

ALFA & OMEGA LONDON

known as

BISERICA PENTICOSTALA ROMANA ALFA & OMEGA

Annual Report and Financial Statements

for the Year Ended 30 June 2021

ALFA & OMEGA LONDON

known as BISERICA PENTICOSTALA ROMANA ALFA & OMEGA

Contents

Reference and Administrative Details	1
Trustees' Report	2 to 5
Statement of Trustees' Responsibilities	6
Independent Examiner's Report	7
Statement of Financial Activities	8
Balance Sheet	9
Notes to the Financial Statements	10 to 20

ALFA & OMEGA LONDON

known as BISERICA PENTICOSTALA ROMANA ALFA & OMEGA

Reference and Administrative Details

Chairman

Vasile Adrian Bucur, Pastor

Trustees

Iulian Hirtopanu Daniel Bucur, Treasurer Iounut Danieal Cirdei Simion Put Vasile Adrian Bucur, Pastor Nicoleta Mihaita

Charity Registration Number

1167814

Principal Office

6 ELMWOOD CRESCENT London NW9 0NL

Independent Examiner

Kalomart & Co Accountants External Examiners First Floor 2 Market Place Bermondsey London SE10 8BA

Page 1

ALFA & OMEGA LONDON

known as BISERICA PENTICOSTALA ROMANA ALFA & OMEGA

Trustees' Report

The trustees present the annual report together with the financial statements of the charity for the year ended 30 June 2021.

Objectives and activities

Objects and aims

The Object of the CIO is, for the public benefit, the advancement of the Christian faith in accordance with the Statement of Faith in such ways as the Charity Trustees may from time to time decide

Objectives, strategies and activities

Alfa & Omega Romanian Pentecostal Church is committed to enabling as many people as possible from the local community to worship at and become part of our church.

There is a large Romanian community in the North West London and we aim to serve it as much as we can. The service is delivered in Romanian but all are welcome to attend and we endeavour to provide one to one interpreting to any guest who wishes to join us in worship but does not speak Romanian.

The Trustees have considered the Charity Commission’s guidance on public benefit and, in particular, the specific guidance on charities for the advancement of religion. We try to enable ordinary people in our community and neighbouring boroughs, from any denomination and background, to live out their faith through worship and prayer, Bible study, missionary and outreach work. Our church also aims to provide pastoral care to people in the community and reach out to those who are in need, sick or homeless.

Page 2

ALFA & OMEGA LONDON

known as BISERICA PENTICOSTALA ROMANA ALFA & OMEGA

Trustees' Report

Public benefit

Until March 2020, our church had three worship services per week. We had our morning and evening Sunday services, where people came together to worship, praise the Lord through music and prayers, and listen to the word of God through the sermon delivered by preachers in our church or visiting speakers. There was another prayer service every Thursday evening, when the atmosphere was more contemplative, quiet and intimate. Due to the Covid situation, our worship services in church were suspended and we have been compelled to continue to praise the Lord by arranging Zoom meetings twice a week. The church building hosting our church was also closed for renovations, therefore we needed to hire halls for our worship from other churches until we found a more permanent location. Since June 2021, our church gathers for worship at Kingsbury Green Primary School

Pastoral Care

Until March 2020, our church used to run the Sunday school every week except on school holidays. Sisters in our church, who are of good character and knowledgeable of the Bible, delivered this service, while one of the trustees, presbyter Iulian Hirtopanu, coordinated it. The children were taught important lessons from the Bible, through games, play and written/video materials. Sunday school had been suspended until June 2021, when we restarted the service in our new premises.

The youth group, also restarted the meetings every Tuesday evening for Bible study and prayer. The young people in our church were encouraged to explore and develop their faith through being part of the church choir, worshipping God through music and singing, and serving others through missionary work. They have also participated in several missionary trips to Romania, Ukraine and Uganda, where they delivered the Gospel in a practical way, through helping the needy

We continued to provide financial help with funeral costs for some members of our church and gave hardship grants to individuals with medical problems Mission and Evangelism

We have had no collection service, membership fee or fundraising event but everyone is encouraged to find their place in the body of Christ, the church, and contribute not only financially but also with their time and effort. Many have responded to this calling and we have had several teams going overseas on missionary trips, especially to Romania, Ukraine and Uganda.

Our ministry in Uganda is very dear to us and we, as a church, have come together to see it grow and develop over time. Two members of our church, brother Florin Bucur and sister Dana Bucur, along with their children, have been missionaries in Kabale, Uganda since 2013.

The works on the missionary base there, in collaboration with The Last Frontiers, our sister charity in Uganda, are continuing, though during the lockdowns they needed to be temporarily suspended.

Florin and Dana have been supported by our church spiritually and financially throughout. They also have in their care two orphaned local children and we provide support for their schooling and upbringing. They have faithfully submitted monthly financial and progress reports to us.

Page 3

ALFA & OMEGA LONDON

known as BISERICA PENTICOSTALA ROMANA ALFA & OMEGA

Trustees' Report

Grant making policies

From time to time, we may offer grants to other charities who promote the advancement of the faith. This year, we have given grants totalling £3,000 to a sister church, Dhaka Assembly of God, for the support of evangelists and missionaries in Bangladesh; grants to APME Romania (Romanian Overseas Missions Pentecostal Association) totalling £21,050 and grants of £3,200 to an orphanage in Uricani, Romania. We have also given grants totalling £29,164 to The Last Frontiers, an associated charity in Uganda, towards the purchase of construction materials and labour for our mission headquarters in Entebbe, Uganda; grants totalling £4,196 to our mission partners in India and, respectively, £5,500 to our mission partners in Romania.

We would like to acknowledge the contribution of our many volunteers, who have listened to the calling of our Lord and have selflessly devoted their time and finances to spread the Good News both locally and overseas.

Structure, governance and management

Recruitment and appointment of trustees

The Church Board elections take place every 4 years. The candidates are nominated by members of the church and elected by the members of the church through secret ballot. The Chairman of the Board is also elected every four years. They are nominated by the Church Board and elected by the members of the church.

Financial instruments

Objectives and policies

The charity’s activities expose it to a number of financial risks including credit risk, cash flow risk and liquidity risk. The use of financial derivatives is governed by the charity’s policies approved by the board of trustees, which provide written principles on the use of financial derivatives to manage these risks. The charity does not use derivative financial instruments for speculative purposes.

Cash flow risk

The charity’s activities expose it primarily to the financial risks of changes in foreign currency exchange rates and interest rates. The charity uses foreign exchange forward contracts and interest rate swap contracts to hedge these exposures.

Interest bearing assets and liabilities are held at fixed rate to ensure certainty of cash flows.

Credit risk

The charity’s principal financial assets are bank balances and cash, trade and other receivables, and investments. The charity’s credit risk is primarily attributable to its trade receivables. The amounts presented in the balance sheet are net of allowances for doubtful receivables. An allowance for impairment is made where there is an identified loss event which, based on previous experience, is evidence of a reduction in the recoverability of the cash flows.

The credit risk on liquid funds and derivative financial instruments is limited because the counterparties are banks with high credit-ratings assigned by international credit-rating agencies.

The charity has no significant concentration of credit risk, with exposure spread over a large number of counterparties and customers.

Liquidity risk

In order to maintain liquidity to ensure that sufficient funds are available for ongoing operations and future developments, the charity uses a mixture of long-term and short-term debt finance.

Further details regarding liquidity risk can be found in the Statement of accounting policies in the financial statements.

Page 4

ALFA & OMEGA LONDON

known as BISERICA PENTICOSTALA ROMANA ALFA & OMEGA

Trustees' Report

The annual report was approved by the trustees of the charity on 23 May 2022 and signed on its behalf by:

Page 5

ALFA & OMEGA LONDON

known as BISERICA PENTICOSTALA ROMANA ALFA & OMEGA

Statement of Trustees' Responsibilities

The trustees are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.

The law applicable to charities requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:

• select suitable accounting policies and then apply them consistently;

• observe the methods and principles in the Charities SORP;

• make judgements and estimates that are reasonable and prudent;

• state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the constitution. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by the trustees of the charity on 15 June 2022 and signed on its behalf by:

………………………… Vasile Adrian Bucur Chair of the board of Trustees

Page 6

ALFA & OMEGA LONDON

known as BISERICA PENTICOSTALA ROMANA ALFA & OMEGA

Independent Examiner's Report to the trustees of ALFA & OMEGA LONDON

I report to the trustees on my examination of the accounts of ALFA & OMEGA LONDON for the year ended 30 June 2021.

Responsibilities and basis of report

As the charity trustees of ALFA & OMEGA LONDON you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the ALFA & OMEGA LONDON's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner’s statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

1. accounting records were not kept in respect of ALFA & OMEGA LONDON as required by section 130 of the Act; or

2. the accounts do not accord with those records; or

3. the accounts do not comply with the accounting requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view' which is not a matter considered as part of an independent examination.

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.

Martin Nsiah (BA FCCA)

...................................... Kalomart & Co Accountants Certified Chartered Accountants External Examiners First Floor 2 Market Place Bermondsey London SE10 8BA

15 June 2022

Page 7

ALFA & OMEGA LONDON

known as BISERICA PENTICOSTALA ROMANA ALFA & OMEGA

Statement of Financial Activities for the Year Ended 30 June 2021

	Total Total
	Unrestricted 2021 2020
Note	£ £ £
Income and Endowments from:
Donations and legacies	133,554 133,554 159,127
Investment income 3	5 5 56
Total income
	133,559 133,559 159,183
Expenditure on:
Raising funds	(18,441) (18,441) (14,261)
Charitable activities	(87,576) (87,576) (105,126)
Other expenditure 6	(3,587) (3,587) (5,518)
Total expenditure
	(109,604) (109,604) (124,905)
Net movement in funds
	23,955 23,955 34,278
Reconciliation of funds
Total funds brought forward
	43,420 43,420 9,142
Total funds carried forward 15
	67,375 67,375 43,420

All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2020 is shown in note 15.

The notes on pages 10 to 20 form an integral part of these financial statements. Page 8

ALFA & OMEGA LONDON

known as BISERICA PENTICOSTALA ROMANA ALFA & OMEGA

(Registration number: 1167814) Balance Sheet as at 30 June 2021

	2021 2020
Note	£ £
Fixed assets
Tangible assets 11	2,401 1,902
Current assets
Debtors 12	15,154 2,650
Cash at bank and in hand 13	55,015 40,231
	70,169 42,881
Creditors: Amounts falling due within oneyear 14
	(5,195) (1,363)
Net currentassets
	64,974 41,518
Netassets
	67,375 43,420
Funds of the charity:
Unrestricted income funds
Unrestricted funds	67,375 43,420
Total funds 15
	67,375 43,420

The financial statements on pages 8 to 20 were approved by the trustees, and authorised for issue on 23 May 2022 and signed on their behalf by:

......................................... Vasile Adrian Bucur Chair of the board of Trustees

The notes on pages 10 to 20 form an integral part of these financial statements. Page 9

ALFA & OMEGA LONDON

known as BISERICA PENTICOSTALA ROMANA ALFA & OMEGA

Notes to the Financial Statements for the Year Ended 30 June 2021

1 Accounting policies

Statement of compliance

The financial statements have been prepared in accordance with the second edition of the Charities Statement of Recommended Practice issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.

Basis of preparation

ALFA & OMEGA LONDON meets the definition of a public benefit entity under FRS 102. The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.

Exemption from preparing a cash flow statement

The charity opted to early adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements.

Going concern

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.

Income and endowments

Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.

Donations and legacies

Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be reliably measured.

Grants receivable

Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.

Expenditure

All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.

Page 10

ALFA & OMEGA LONDON

known as BISERICA PENTICOSTALA ROMANA ALFA & OMEGA

Notes to the Financial Statements for the Year Ended 30 June 2021

Raising funds

These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.

Charitable activities

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Support costs

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

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

Taxation

The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

Tangible fixed assets

Individual fixed assets costing £0.00 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation and amortisation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.

Page 11

ALFA & OMEGA LONDON

known as BISERICA PENTICOSTALA ROMANA ALFA & OMEGA

Notes to the Financial Statements for the Year Ended 30 June 2021

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Statement of Financial Activities over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the charity has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Fund structure

Unrestricted income funds are general funds that are available for use at the trustees's discretion in furtherance of the objectives of the charity.

Financial instruments

Classification

Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities.

Page 12

ALFA & OMEGA LONDON

known as BISERICA PENTICOSTALA ROMANA ALFA & OMEGA

Notes to the Financial Statements for the Year Ended 30 June 2021

Recognition and measurement

All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the charity, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.

Page 13

ALFA & OMEGA LONDON

known as BISERICA PENTICOSTALA ROMANA ALFA & OMEGA

Notes to the Financial Statements for the Year Ended 30 June 2021

Debt instruments

Debt instruments which meet the following conditions are subsequently measured at amortised cost using the effective interest method:

(a) The contractual return to the holder is (i) a fixed amount; (ii) a positive fixed rate or a positive variable rate; or (iii) a combination of a positive or a negative fixed rate and a positive variable rate.

(b) The contract may provide for repayments of the principal or the return to the holder (but not both) to be linked to a single relevant observable index of general price inflation of the currency in which the debt instrument is denominated, provided such links are not leveraged.

(c) The contract may provide for a determinable variation of the return to the holder during the life of the instrument, provided that (i) the new rate satisfies condition (a) and the variation is not contingent on future events other than (1) a change of a contractual variable rate; (2) to protect the holder against credit deterioration of the issuer; (3) changes in levies applied by a central bank or arising from changes in relevant taxation or law; or (ii) the new rate is a market rate of interest and satisfies condition (a).

(d) There is no contractual provision that could, by its terms, result in the holder losing the principal amount or any interest attributable to the current period or prior periods.

(e) Contractual provisions that permit the issuer to prepay a debt instrument or permit the holder to put it back to the issuer before maturity are not contingent on future events, other than to protect the holder against the credit deterioration of the issuer or a change in control of the issuer, or to protect the holder or issuer against changes in levies applied by a central bank or arising from changes in relevant taxation or law.

(f) Contractual provisions may permit the extension of the term of the debt instrument, provided that the return to the holder and any other contractual provisions applicable during the extended term satisfy the conditions of paragraphs (a) to (c).

Debt instruments that are classified as payable or receivable within one year on initial recognition and which meet the above conditions are measured at the undiscounted amount of the cash or other consideration expected to be paid or received, net of impairment.

With the exception of some hedging instruments, other debt instruments not meeting these conditions are measured at fair value through profit or loss.

Commitments to make and receive loans which meet the conditions mentioned above are measured at cost (which may be nil) less impairment.

Investments

Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through profit or loss. Where fair value cannot be measured reliably, investments are measured at cost less impairment.

Investments in subsidiaries and associates are measured at cost less impairment. For investments in subsidiaries acquired for consideration including the issue of shares qualifying for merger relief, cost is measured by reference to the nominal value of the shares issued plus fair value of other consideration. Any premium is ignored.

Page 14

ALFA & OMEGA LONDON

known as BISERICA PENTICOSTALA ROMANA ALFA & OMEGA

Notes to the Financial Statements for the Year Ended 30 June 2021

Derivative financial instruments

The charity uses derivative financial instruments to reduce exposure to foreign exchange risk and interest rate movements. The charity does not hold or issue derivative financial instruments for speculative purposes.

Derivatives are initially recognised at fair value at the date a derivative contract is entered into and are subsequently remeasured to their fair value at each reporting date. The resulting gain or loss is recognised in statement of financial activities immediately unless the derivative is designated and effective as a hedging instrument, in which event the timing of the recognition in statement of financial activities depends on the nature of the hedge relationship.

Fair value measurement

The best evidence of fair value is a quoted price for an identical asset in an active market. When quoted prices are unavailable, the price of a recent transaction for an identical asset provides evidence of fair value as long as there has not been a significant change in economic circumstances or a significant lapse of time since the transaction took place. If the market is not active and recent transactions of an identical asset on their own are not a good estimate of fair value, the fair value is estimated by using a valuation technique.

2 Income from donations and legacies

	Unrestricted
	funds	Total
	General	funds
	£	£
Donations and legacies;
Legacies	113,594	113,594
Gift aid reclaimed	11,410	11,410
Grants, including capital grants;
Governmentgrants	8,550	8,550
Total for 2021	133,554	133,554
Total for 2020	159,127	159,127

3 Investment income

3 Investment income
	Unrestricted
	funds Total
	General funds
	£ £
Other income from fixed asset investments	5 5
Total for 2021
	5 5
Total for 2020
	56 56

Page 15

ALFA & OMEGA LONDON

known as BISERICA PENTICOSTALA ROMANA ALFA & OMEGA

Notes to the Financial Statements for the Year Ended 30 June 2021

4 Expenditure on raising funds

Costs of trading activities

a)

a) Costs of trading activities
	Unrestricted
	funds Total
	General funds
Note	£ £
Other direct costs of activities forgeneratingfunds	330 330
Total for 2021
	330 330
Total for 2020
	3,699 3,699
	Total costs
	£
5 Expenditure on charitable activities
	Unrestricted
	funds Total
	General funds
Note	£ £
Allocated support costs	87,576 87,576
Total for 2020
	105,126 105,126

	Total expenditure
	£
6 Other expenditure
	Unrestricted
	funds Total
	General funds
Note	£ £
Allocated support costs	3,587 3,587
Total for 2021
	3,587 3,587
Total for 2020
	5,518 5,518

Page 16

ALFA & OMEGA LONDON

known as BISERICA PENTICOSTALA ROMANA ALFA & OMEGA

Notes to the Financial Statements for the Year Ended 30 June 2021

7 Net incoming/outgoing resources

Net incoming resources for the year include:

7 Net incoming/outgoing resources Net incoming resources for the year include:
	2021
	£
8 Trustees remuneration and expenses
9 Staff costs
The aggregate payroll costs were as follows:
	2021 2020
	£ £
Staff costs during the year were:
Wages and salaries	18,111 10,562

No employee received emoluments of more than £60,000 during the year

Page 17

ALFA & OMEGA LONDON

known as BISERICA PENTICOSTALA ROMANA ALFA & OMEGA

Notes to the Financial Statements for the Year Ended 30 June 2021

10 Taxation

The charity is a registered charity and is therefore exempt from taxation.

11 Tangible fixed assets

11 Tangible fixed assets
	Furniture and equipment Total
	£ £
Cost
At 1 July 2020	3,119 3,119
Additions	1,100 1,100
At 30 June 2021	4,219 4,219
Depreciation
At 1 July 2020	1,217 1,217
Charge for theyear	601 601
At 30 June 2021	1,818 1,818
Net book value
At 30 June 2021	2,401 2,401
At 30 June 2020	1,902 1,902
12 Debtors
	2021 2020
	£ £
Prepayments	1,094 -
Other debtors	14,060 2,650
	15,154 2,650
Debtors includes £14,060 (2020: £2,650) receivable after less than one year.
	2021 2020
	£ £
Other debtors	14,060 2,650
13 Cash and cash equivalents
	2021 2020
	£ £
Cash at bank	55,015 40,231

Page 18

ALFA & OMEGA LONDON

known as BISERICA PENTICOSTALA ROMANA ALFA & OMEGA

Notes to the Financial Statements for the Year Ended 30 June 2021

14 Creditors: amounts falling due within one year	14 Creditors: amounts falling due within one year
2021 2020
£ £
Other taxation and social security 149 92
Other creditors 4,296 521
Accruals 750 750
5,195 1,363
15 Funds
Balance at 1 July 2020 Incoming resources Resources expended Balance at 30 June 2021
£ £ £ £
Unrestricted funds
General 43,420 133,559 (109,604) 67,375
Balance at 1 July 2019 Incoming resources Resources expended Balance at 30 June 2020
£ £ £ £
Unrestricted funds
General 9,142 159,183 (124,905) 43,420
16 Analysis of net assets between funds
	Unrestricted Total funds at 30
	funds June
	General 2021
	£ £
Tangible fixed assets	2,401 2,401
Current assets	70,169 70,169
Current liabilities	(5,195) (5,195)
Total net assets
	67,375 67,375
	Unrestricted Total funds at 30
	funds June
	General 2020
	£ £
Tangible fixed assets	1,902 1,902
Current assets	42,881 42,881
Current liabilities	(1,363) (1,363)
Total net assets
	43,420 43,420

Page 19

ALFA & OMEGA LONDON

known as BISERICA PENTICOSTALA ROMANA ALFA & OMEGA

Notes to the Financial Statements for the Year Ended 30 June 2021

17 Analysis of net funds
	At 1 July 2020 At 30 June 2021
	£ £
Cash at bank and in hand	40,231 40,231
Net debt
	40,231 40,231
	At 1 July 2019 At 30 June 2020
	£ £
Cash at bank and in hand	5,084 5,084
Net debt
	5,084 5,084

Page 20

ALFA & OMEGA LONDON

known as BISERICA PENTICOSTALA ROMANA ALFA & OMEGA

Statement of Financial Activities by fund for the Year Ended 30 June 2021

	Total Total
	Unrestricted Unrestricted
	Funds Funds
	2021 2020
	£ £
Income and Endowments from:
Donations and legacies	133,554 159,127
Investment income	5 56
Total income
	133,559 159,183
Expenditure on:
Raising funds	(18,441) (14,261)
Charitable activities	(87,576) (105,126)
Other expenditure	(3,587) (5,518)
Total expenditure
	(109,604) (124,905)
Net income
	23,955 34,278
Net movement in funds
	23,955 34,278
Reconciliation of funds
Total funds brought forward
	43,420 9,142
Total funds carried forward
	67,375 43,420

This page does not form part of the statutory financial statements. Page 21

ALFA & OMEGA LONDON

known as BISERICA PENTICOSTALA ROMANA ALFA & OMEGA

Detailed Statement of Financial Activities for the Year Ended 30 June 2021

	Total Total
	2021 2020
	£ £
Income and Endowments from:
Donations and legacies (analysed below)	133,554 159,127
Investment income(analysed below)	5 56
Total income
	133,559 159,183
Expenditure on:
Raising funds (analysed below)	(18,441) (14,261)
Charitable activities (analysed below)	(87,576) (105,126)
Other expenditure(analysed below)	(3,587) (5,518)
Total expenditure
	(109,604) (124,905)
Net income
	23,955 34,278
Net movement in funds
	23,955 34,278
Reconciliation of funds
Total funds brought forward
	43,420 9,142
Total funds carried forward
	67,375 43,420

This page does not form part of the statutory financial statements. Page 22

ALFA & OMEGA LONDON

known as BISERICA PENTICOSTALA ROMANA ALFA & OMEGA

Detailed Statement of Financial Activities for the Year Ended 30 June 2021

	Total Total
	2021 2020
	£ £
Donations and legacies
Legacies and bequests	113,594 156,367
Gift Aid tax reclaimed	11,410 -
UK Governmentgrants	8,550 2,760
	133,554 159,127
Investment income
Income from other unlisted investments	5 56
	5 56
Raising funds
Wages and salaries	(18,111) (10,562)
Consumable tools	(115) (3,699)
Insurance	(215) -
	(18,441) (14,261)
Charitable activities
Donation to Mission work	(58,716) (53,162)
Overseas mission work	(14,800) (24,721)
Outreach activities	(6,300) (15,180)
Rent and rates	(7,760) (9,433)
Youth and Children	- (2,630)
	(87,576) (105,126)
Other expenditure
Repairs and maintenance	- (2,965)
Telephone and fax	(98) (91)
Printing, postage and stationery	- (124)
Travel and subsistence	(2,000) (998)
Accountancy fees	(750) (750)
Bank charges	(139) (115)
Depreciation of office equipment	(600) (475)
	(3,587) (5,518)

This page does not form part of the statutory financial statements. Page 23