R.C.C.G GRACE HAVEN CHAPEL
Charity Number: 1168599
R.C.C.G GRACE HAVEN CHAPEL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2021
SPEARMANS 333 EDGWARE ROAD LONDON NW9 6TD
R.C.C.G GRACE HAVEN CHAPEL
Contents
| Page | |
|---|---|
| Legal and administrative information | 1 |
| Report of the trustees | 2-3 |
| Independent Examiner’s Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 |
| Notes forming part of the financial statements | 7-8 |
R.C.C.G GRACE HAVEN CHAPEL
Legal and administrative information
Director
Charity offices Independent Examiner Bankers
Mr Ayotunde Adesanya Mr Ekeyi Benjamin Mrs Olayinka Okernarhe 84 St. Johns road, Gillingham, ME7 5PL Lance Kadiri 333 Edgware road London NW9 6TD Barclays Bank 1Churchill Place London E14 5HP
1
R.C.C.G GRACE HAVEN CHAPEL
Report of the Trustees for the year ended 31 January 2021
The trustees present their report along with the financial statements of the company for the year ended 31 January 2021. The financial statements have been prepared in accordance with the accounting policies set out on page 7 and comply with the company’s memorandum and articles of association.
Trustees
The following were the directors for the period under consideration.
| Name | Appointed |
|---|---|
| Mr Ayotunde Adesanya | 2017 |
| Mr Ekeyi Benjamin | 2016 |
| Mrs Olayinka Okernarhe | 2016 |
The principal custodian of the charity is the Board of Trustees.
Appointment of trustees is governed by The Memorandum and Articles of Association. The Board of Trustees is authorized to appoint new trustees to fill vacancies arising through resignation or death of an existing trustee.
Investment Powers
The Memorandum and Articles of Association authorizes the trustees to make and hold investments using the general funds of the charity, but no such investments are presently held.
Constitution, objects and policies
-
(i) The Charity’s governing document is the Memorandum and Articles of Association, which is kept at the charity’s principal address.
-
(ii) The Charity’s Objects ("the Objects") which are to be carried out for the public benefit are: the advancement of the Christian faith worldwide, and the relief of poverty.
Development, activities and achievements
The trustees consider that the performance of the charity this year has been satisfactory. During the year the charity gained some new beneficiaries and it is expected that the charity’s impact will continue to grow in the future.
The charity would not be able to operate without the continued support of a large number of willing support staff who give their services voluntarily and assist on a freelance basis.
Financial review
The charity’s fundraising activities continue to be successful, thanks mainly to the kind donations of concerned individuals. Office overheads were generally unchanged this year. Funds available are sufficient to permit the charity to continue in operation in the medium term.
Risk Management
The trustees actively review the major risk which the charity faces on a regular basis and believe that maintaining reserves at current levels, combined with an annual review of the controls over key financial systems, will provide sufficient resources in the event of adverse conditions. The trustees have also examined other operational and business risks faced by the Charity and confirm that they have established systems to mitigate the significant risks.
Future Developments
The trustees are confident that the charity will continue to grow in strength in the foreseeable future.
2
R.C.C.G GRACE HAVEN CHAPEL
Report of the trustees for the year ended 31 January 2021 (cont’d)
Reserves policy
It is the policy of the charity to maintain unrestricted funds at a level which equate to approximately 12 months unrestricted expenditure. This provides sufficient funds to cover management and administration and support costs. Unrestricted funds are maintained at least this level throughout the year.
Statement of trustees’ responsibilities
Law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true fair view of the charity’s financial activities during the year and of its financial position at the end of the year. In preparing those financial statements, the trustees are required to:
-
(a) select suitable accounting policies and apply them consistently;
-
(b) make judgments and estimates that are reasonable and prudent;
-
(c) state whether applicable accounting standards and statements of recommended practice have been followed, subject to any departures disclosed and explained in the financial statements;
-
(d) Prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping accounting records which 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. They 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.
Approval
This report was approved by the trustees in October 2021 and signed on their behalf.
A Adesanya Trustee
3
R.C.C.G GRACE HAVEN CHAPEL
Report of the Independent Examiner to the Trustees On accounts for the year ended 31 January 2021
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 (2) of the Charities Act 2011 and that an independent examination is needed.
It is my responsibility to:
-
(iii) Examine the accounts under section 145 of the Charities Act;
-
(iv) To follow the procedures laid down in the General Directions given by the Charity Commissioners (under section 145(5)(b) of the Charities Act; and
-
(v) 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 Commissioners. 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, I do not express an audit opinion on the accounts.
Independent examiner’s statement
In connection with my examination, no matter has come to my attention that:
-
(i) which gives me reasonable cause to believe that in my 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 company with the accounting requirements of the Charities Act
have not been met; or
- (ii) To which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
LANCE KADIRI 333 Edgware road London NW9 6TD
October 2021
4
R.C.C.G GRACE HAVEN CHAPEL
Statements of Financial Activities For the year ended 31 January 2021
| Incoming Resources Donations Other Income Total Incoming resources Resources Expanded Rent and service charges Missions & Ministries Giving Visiting Speaker's Fees Events Costs Pastor's Allowance Telephone and fax Stationery and printing Advertising and PR Independent Examiner's Fees Other legal and professional Gifts, Donations & Welfare Travel expenses and subsistence Subscriptions Equipment expenses Website and online Sundry expenses Depreciation Total resources expended (Deficit)/Surplus for the year |
Unrestricted Total Total Fund Funds Funds 2021 2021 2020 £ £ £ 27,189 27,189 12,636 - - - |
|---|---|
| 27,189 27,189 12,636 |
|
| 1,388 1,388 5,120 6,549 6,549 1,120 - - - 66 66 - 273 273 - - - - 336 336 542 570 570 304 250 250 300 - - 750 1,916 1,916 190 248 248 1,309 371 371 916 - - 68 367 367 205 1,101 1,101 1,436 495 495 265 |
|
| 13,930 13,930 12,525 |
|
| 13,259 13,259 111 |
There were no recognized gains or losses for 2021 other than those included in the Statements of Financial Activities.
5
R.C.C.G GRACE HAVEN CHAPEL
Balance Sheet
As at 31 January 2021
| Note Fixed Assets Tangible Assets 2 Current assets Debtors 3 Cash at bank and in hand Creditors: amounts falling due within one year 4 Net current assets Total assets less current liabilities Funds Unrestricted funds 5 Accumulated unrestricted funds |
2021 £ £ 1,980 - 13,812 13,812 - 13,812 15,792 15,792 15,792 |
2020 £ - 588 588 - |
£ 1,945 588 |
|---|---|---|---|
| 2,533 | |||
| 2,533 | |||
| 2,533 |
Approved by the trustees in October 2021 and signed on their behalf.
A Adesanya Trustee
6
R.C.C.G GRACE HAVEN CHAPEL
Notes to the accounts for the year ended 31 January 2021
1. Accounting policies
1.1 Basis of preparation of accounts
These accounts 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. 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) issued on 16 July 2014 (as updated through Update Bulletin 1 published on 2 February 2016), the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Practice as it applies from 1 January 2015.
The particular accounting policies adopted are set out below.
1.2 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Investment income, capital gains and losses are allocated to the appropriate fund.
1.3 Incoming resources
All incoming resources are included in the Statement of Financial Activities (SOFA) when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
1.4 Resources expended
All expenditure is accounted for on an accruals basis and has been included under expense categories that aggregate all costs for allocation to activities. Where costs cannot be directly attributed to particular activities they have been allocated on a basis consistent with the use of the resources.
1.5 Tangible fixed assets for use by the charity and depreciation .
Tangible fixed assets for use by the charity are stated at cost less depreciation.
Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Equipment and furniture 20% reducing balance method
7
R.C.C.G GRACE HAVEN CHAPEL
Notes to the accounts
for the year ended 31 January 2020
| 2. Tangible fixed assets for use by the Charity Cost At 1 February 2020 Additions At 31 January 2021 Depreciation At 1 February 2020 Charge for year At 31 January 2021 Net book value At 31 January 2021 At 31 January 2020 3. Debtors and prepayments Other debtors 4. Creditors and accruals Other creditors 5 . Statement of funds Opening Incoming Balance resources £ £ Unrestricted funds 2,533 27,189 |
|
|---|---|
| (13,930) 15,792 |
8