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← All Nations Salvation Assembly (Ansa)

2020-08-31-accounts

Charity number: 1168929

ALL NATIONS SALVATION ASSEMBLY (ANSA)

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2020

ALL NATIONS SALVATION ASSEMBLY (ANSA)

CONTENTS
Page
Reference and administrative details of the charity, its trustees and advisers 1
Trustees' report 2 - 3
Independent examiner's report 4 - 5
Statement of financial activities 6
Balance sheet 7
Notes to the financial statements 8 - 13

ALL NATIONS SALVATION ASSEMBLY (ANSA)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2020

Trustees

Mrs Altai Weekes Mrs Odunike Ameh Mr James Aldewale Mrs Micaetia Faustino Da Silva

Charity registered number

1168929

Principal office

23A Manor Road, Barnet, EN5 2LE

Accountants

Zurish Associates, 312 High Road, Tottenham, London, N15 4BN

Page 1

ALL NATIONS SALVATION ASSEMBLY (ANSA)

TRUSTEES' REPORT FOR THE YEAR ENDED 31 AUGUST 2020

The Trustees present their annual report together with the financial statements of the charity for the 1 September 2019 to 31 August 2020.

Objectives and Activities

a. Policies and objectives

To advance the Christian faith in accordance with the statement of beliefs in such ways as the trustees from time to time may deem fit.

b. Activities for achieving objectives

Financial review

a. Going concern

After making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies.

Structure, governance and management

a. Constitution

The charity was incorporated on 26 August 2016 as Charitable Incorporated Organisation.

b. Method of appointment or election of Trustees

The management of the charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.

Trustees' responsibilities statement

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

The law applicable to charities in England & Wales 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:

Page 2

ALL NATIONS SALVATION ASSEMBLY (ANSA)

TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 AUGUST 2020

The Trustees are responsible for keeping proper accounting records that are sufficient to show and explain the charity's transactions and 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 Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. 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.

This report was approved by the Trustees, on 15 February 2021 and signed on their behalf by:

O Ameh Trustee

Page 3

ALL NATIONS SALVATION ASSEMBLY (ANSA)

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 AUGUST 2020

Independent examiner's report to the Trustees of All Nations Salvation Assembly (ANSA)

I report on the financial statements of the charity for the year ended 31 August 2020 which are set out on pages 6 to 13.

This report is made solely to the charity's Trustees, as a body, in accordance with section 145 of the Charities Act 2011 and regulations made under section 154 of that Act. My work has been undertaken so that I might state to the charity's Trustees those matters I am required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's Trustees as a body, for my work or for this report.

The financial statements have been prepared in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.

This has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on the after 1 January 2015.

Respective responsibilities of Trustees and examiner

The charity's Trustees are responsible for the preparation of the financial statements, and they consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the Act) and that an independent examination is needed. The charity's gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of Institute of Financial Accountants..

It is my responsibility to:

Basis of independent examiner's report

My examination was carried out in accordance with the 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 financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeking explanations from you as 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 financial statements present a 'true and fair view' and the report is limited to those matters set out in the statement below.

Page 4

ALL NATIONS SALVATION ASSEMBLY (ANSA)

INDEPENDENT EXAMINER'S REPORT (continued) FOR THE YEAR ENDED 31 AUGUST 2020

Independent examiner's statement

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

have not been met; or

Signed: Dated: 15 February 2021

Samson Okereke FFA

Page 5

ALL NATIONS SALVATION ASSEMBLY (ANSA)

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2020

Unrestricted
funds
Note
2020
£
Income from:
Donations and legacies
2
368,746
Total income
368,746
Expenditure on:
Charitable activities
298,244
Total expenditure
298,244
Net income / (expenditure) before other recognised gains
and losses
70,502
Net movement in funds
70,502
Reconciliation of funds:
Total funds brought forward
(22,901)
Total funds carried forward
47,601		 Total
funds
2020
£
368,746
368,746
298,244
298,244
70,502
70,502
(22,901)
47,601		 Total
funds
2019
£
457,801
457,801
496,063
496,063
(38,262)
(38,262)
15,361
(22,901)

The notes on pages 8 to 13 form part of these financial statements.

Page 6

ALL NATIONS SALVATION ASSEMBLY (ANSA)

BALANCE SHEET AS AT 31 AUGUST 2020

Note
Fixed assets
Tangible assets
4
Current assets
Debtors
5
Cash at bank and in hand
Creditors:amounts falling due within one
year
6
Net current assets/(liabilities)
Net assets/(liabilities)
Charity Funds
Unrestricted funds
7
Total funds/(deficit)		 £
31,500
224
31,724
(5,500)		 2020
£
21,377
26,224
47,601
47,601
47,601		 £
61,942
657
62,599
(85,500)		 2019
£
-
(22,901)
(22,901)
(22,901)
(22,901)

The financial statements were approved by the Trustees on 15 February 2021 and signed on their behalf, by:

O Ameh

The notes on pages 8 to 13 form part of these financial statements.

Page 7

ALL NATIONS SALVATION ASSEMBLY (ANSA)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020

1. Accounting policies

1.1 Basis of preparation of financial statements

The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

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 to these accounts. 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 (FRS 102) issued on 16 July 2014 and Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and Charities Act 2011.

All Nations Salvation Assembly (ANSA) constitutes a public benefit entity as defined by FRS 102.

1.2 Income

All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

1.3 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Charitable activities and Governance costs are costs incurred on the charity's educational operations, including support costs and costs relating to the governance of the charity apportioned to charitable activities.

1.4 Tangible fixed assets and depreciation

A review for impairment of a fixed asset is carried out if events or changes in circumstances indicate that the carrying value of any fixed asset may not be recoverable. Shortfalls between the carrying value of fixed assets and their recoverable amounts are recognised as impairments. Impairment losses are recognised in the statement of financial activities.

Page 8

ALL NATIONS SALVATION ASSEMBLY (ANSA)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020

1. Accounting policies (continued)

Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

1.5 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.

1.6 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

1.7 Cash at Bank and in hand

Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

1.8 Liabilities and provisions

Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised within interest payable and similar charges.

1.9 Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

1.10 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.

Page 9

ALL NATIONS SALVATION ASSEMBLY (ANSA)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020

2. Income from donations and legacies

Unrestricted
funds
2020
£
Donations
306,537
Government grants
62,209
Total donations and legacies
368,746
Total 2019
457,801		 Total
funds
2020
£
306,537
62,209
368,746
457,801		 Total
funds
2019
£
355,100
102,701
457,801

3. Direct costs

All activities
£
Volunteer expenses
18,602
Honorarium
24,320
Rent
98,500
Hall Hire
10,700
Equipment hire
13,502
Printing, postage & stationeries
8,002
Welfare
25,720
Telephone and internet
9,110
Outreach and evangelism
48,305
Travel expenses
18,508
Repairs
8,350
Refreshments
4,700
Fees and allowances
2,800
Depreciation
7,125
298,244
Total 2019
496,063		 Total
2020
£
18,602
24,320
98,500
10,700
13,502
8,002
25,720
9,110
48,305
18,508
8,350
4,700
2,800
7,125
298,244
496,063		 Total
2019
£
31,400
28,500
125,440
32,300
23,450
12,458
51,200
5,845
110,520
48,100
18,150
6,200
2,500
-
496,063

Page 10

ALL NATIONS SALVATION ASSEMBLY (ANSA)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020

4. Tangible fixed assets

4.
Tangible fixed assets
Cost
At 1 September 2019
Additions
At 31 August 2020
Depreciation
At 1 September 2019
Charge for the year
At 31 August 2020
Net book value
At 31 August 2020
At 31 August 2019
5.
Debtors
Other debtors
6.
Creditors: Amounts falling due within one year
Accruals and deferred income		 2020
£
31,500
2020
£
5,500		 Office
equipment
£
-
28,502
28,502
-
7,125
7,125
21,377
-
2019
£
61,942
2019
£
85,500

Page 11

ALL NATIONS SALVATION ASSEMBLY (ANSA)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020

7. Summary of funds

8. Summary of funds - current year

Balance at
1
September
2019
£
General funds
(22,901)
9.
Summary of funds - prior year
Balance at
1 September
2018
As restated
£
General funds
15,361		 Income Expenditure
£
£
368,746
(298,244)
Income
As restated
Expenditure
As restated
£
£
457,801
(496,063)		 Balance at
31 August
2020
£
47,601
Balance at
31 August
2019
£
(22,901)

10. Analysis of net assets between funds

Analysis of net assets between funds - current year

Unrestricted
funds
2020
£
Tangible fixed assets
21,377
Current assets
31,724
Creditors due within one year
(5,500)
47,601
Analysis of net assets between funds - prior year
Unrestricted
funds
2019
£
Current assets
62,599
Creditors due within one year
(85,500)
(22,901)		 Total
funds
2020
£
21,377
31,724
(5,500)
47,601
Total
funds
2019
£
62,599
(85,500)
(22,901)

Page 12

ALL NATIONS SALVATION ASSEMBLY (ANSA)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020

11. Members' liability

Each member of the charitable company undertakes to contribute to the assets of the company in the event of it being wound up while he/she is a member, or within one year after he/she ceases to be a member, such amount as may be required, not exceeding £ 1 for the debts and liabilities contracted before he/she ceases to be a member.

12. Post balance sheet events

The Trustees have considered the impact of COVID-19 pandemic after the period end and concluded that there is no significant impact affecting these financial statements.

Page 13