**2021** ## DIVINE GRACE MISSION **Paul Victoria Chartered Accountants 2nd floor, 134 South street, Romford, Essex RM1 1TE** ## **DIVINE GRACE MISSION** ## **REPORT AND ACCOUNTS** **PERIOD ENDED 31 DECEMBER 2021** **PAUL VICTORIA ACCOUNTANTS CHARTERED CERTIFIED ACCOUNTANTS 2[nd ] floor, 134 South street, Romford, Essex RM1 1TE** **For more information on our services please click http://www.paulvictoriaaccountants.com** **Tel: 02082787343** **DIVINE GRACE MISSION REPORT AND ACCOUNTS 2021** Page - 3 - **CONTENTS PAGE Divine Grace Mission Information 4 Report of the Board of Trustee 5-7 Receipts and payments 8 Statement of Assets and Liabilities 9 Notes to the Accounts 10** **DIVINE GRACE MISSION REPORT AND ACCOUNTS 2021** Page - 4 - ## **DIVINE GRACE MISSION INFORMATION** ## **NAME:** DIVINE GRACE MISSION **REGISTERED CHARITY NO:** 1171308 **TRUSTEES:** MR AITI SAKADI OSULA MR ASTON ODIGIE MR RICHARD OKOGHENU MR SYLVESTER IGHODALO AKHIWU **CORRESPONDENT:** DIVINE GRACE MISSION 17 NORMANDY TERRACE FREEMASONS ROAD LONDON **ACCOUNTANTS:** PAUL VICTORIA ACCOUNTANTS 2[ND] FLOOR 134 SOUTH STREET, ROMFORD ESSEX RM1 1TE **DIVINE GRACE MISSION REPORT AND ACCOUNTS 2021** Page - 5 - **REPORT OF THE TRUSTEES** The members of the Board of Trustee present their report for the year ended 31 December 2021. ## **Governing Document** The charity is operated under the rules of its Trust Deed dated 25 January 2017. Overall management of the charity is the responsibility of the trustees who are elected and co-opted under the terms of the trust deed. Day to day project activity is managed and carried out by the board of trustee. ## **Charitable Objects:** The Trustees shall hold the trust fund and its income upon to apply them in the following “(the objects)” the objects are to relieve the need suffering and distress of ethnic minority in the UK and Ireland in particularly but not exclusively by: HE OBJECT OF THE CIO IS, FOR THE PUBLIC BENEFIT, THE ADVANCEMENT OF THE CHRISTIAN FAITH IN SUCH WAYS AS THE CHARITY TRUSTEES MAY FROM TIME TO TIME DECIDE. ## **Activities:** The principle activities of the charity include: weekend prayer meetings: weekend classes for children: : regular advice and advocacy as necessary. Visiting sick people at home and hospital: conducting naming ceremonies and prayers. ## **Summary of the main achievements during the period:** During the year, demands for the DIVINE GRACE MISSION services continued to grow in response to growth in public awareness of Christianity and community involvements. **The charity’s policy on reserves:** The trustees aim to maintain free reserves in unrestricted funds at a level which equates to approximately six months of unrestricted charitable expenditure. Our policy is, therefore, to continue building up our free reserves to the ideal level by means of annual operating surpluses and supplemented by general purpose appeals from time to time. **DIVINE GRACE MISSION REPORT AND ACCOUNTS 2021** Page - 6 - **REPORT OF THE TRUSTEES** ## **Risk Management:** The charity trustees have considered the major risks to which the charity is exposed and have reviewed those risks and established systems and procedures to manage those risks. The trustees annually review the risks that the charity faces. To date these have mainly related to: - Achievement of our aims and objectives; and - Meeting the expectations of our beneficiaries and supporters. The trustees review these risks on an on-going basis and satisfy themselves that adequate systems and procedures are in place to manage the risks identified. ## **Responsibilities of the Board of Trustees** The Board of Trustee is required to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the DIVINE GRACE MISSION as at the balance sheet date of its incoming resources and resources for the year ended. In preparing those financial statements, the Board of Trustee is required to: - Select suitable accounting policies and then apply them consistently - Make judgements and estimates that are reasonable and prudent; - State whether applicable accounting methods have been followed, subject to any material departures disclosed and explained in the financial statements - Prepare the financial statements on the going concern basis unless it is inappropriate to assume that the DIVINE GRACE MISSION will continue on that basis. The Board of Trustee is responsible for keeping proper books of account such as are necessary to give a true and fair view of the DIVINE GRACE MISSION state of affairs and to explain its financial transactions. The DIVINE GRACE MISSION must also establish and maintain a satisfactory system of control of its book of account, its cash holdings and all its receipts and remittances, and hence is responsible for safeguarding the assets and taking reasonable steps for the prevention and detection of fraud and other irregularities. ## **Board of Trustee** The members of the Board of Trustee have no beneficial interest in the DIVINE GRACE MISSION and are not remunerated. The members of the Board of Trustee on the date this report was approved were as stated in the information page above. **DIVINE GRACE MISSION REPORT AND ACCOUNTS 2021** Page - 7 - **Financial Statements** The financial statements for the period ended 31 December 2021 are presented in accordance with the Statement of Recommended Practice (SORP) “Accounting by Charities”. The overall financial performance recorded a net surplus in funds of £474. Any surplus funds which are not likely to be needed to pay for activities will be placed on deposit to earn interest. The trustees declare that they have approved the trustees’ report above. Signed on behalf of the charity’s trustees; Sylvester Ighodalo Akhiwu Signed …………………………………………………………………….. (Chairman) **DIVINE GRACE MISSION REPORT AND ACCOUNTS 2021** Page - 8 - **FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021** |**DIVINE GRACE MISSION**|**DIVINE GRACE MISSION**|**1171308**| |---|---|---| |**For the period from**|Period start date
1 January 2021|Period end
31 December
2021| ## **Receipts and payments** |**Receipts**|**Unrestricted**
**funds**
**to the nearest**
**£**|

|**Restricted funds**
**to the nearest £**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**|**Total**
**funds**
**to the**
**nearest £**
**2,967 **
**-**
**2,967**
**1,130**
**-**
**150**
**1,213**
**-**
**2,493**
**-**
**-**
**2,493**
**474**
**-**
**505**
**979**|**Last year**
**to the nearest £**| |---|---|---|---|---|---| ||||||| |Receipts from donor -
planned giving|**2,967 **||||**1,103**| ||||||| |**_Sub total_**_(Gross income for_
_AR)_|**-**||||**-**| |**_Total receipts_**
**Payments**|||||| ||**2,967**||||**1,103**| ||||||| |Rent|**1,130**||||**1,103**| |Assistance tomembers|**-**||||**-**| |Professional fees|**150**||||**150**| |Administration(seenote 3)|**1,213**||||**-**| ||**-**||||**-**| |**_Sub total_**|**2,493**||||**1,253**| ||||||| |**Asset purchases (see table)**|||||| |Assets for charity use (see
note|**-**||||**-**| |**_Sub total_**|**-**||||**-**| |**_Total payments_**
**_Net of receipts/(payments)_**
**Transfers between funds**
**Cash funds last year end**
**_Cash funds this year end_**|||||| ||**2,493**||||**1,253**| ||||||| ||**474**||**-**|**474**|**(150)**| ||**-**||**-**|**-**|**-**| ||**505**||**-**|**505**|**655**| ||**979**||**-**|**979**|**505**| **DIVINE GRACE MISSION REPORT AND ACCOUNTS 2021** Page - 9 - ## **Statement of assets and liabilities at the end of the period** ||**Unrestricted**
**funds**
**to nearest £**|




|**Restricted funds**
**to nearest £**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**Fund to which**
**liability relates**
**-**
**-**
**-**|**Total**
**funds**
**to the**
**nearest £**
**979**
**-**
**979**
**-**
**-**
**-**
**-**
**-**
**Amount**
**due**
**(optional)**
**-**
**-**
**-**|**Last year**
**to the nearest £**| |---|---|---|---|---|---| |**Cash funds**|||||| |Bank current account|**979**||||**505**| ||**-**||||**-**| ||**979**||||**505**| ||||||| |**Other monetary assets**|||||| |Other debts due to the church|**-**||||**-**| ||**-**||||**-**| ||**-**||||**-**| ||||||| |**Assets retained for the**
**charity’s own use**|||||| |see(note 2)|**-**||||**-**| ||||||| ||**-**||||**-**| ||||||**When due**
**(optional)**| |**Liabilities**|||||| |Other creditors|**-**||**-**|**-**|**-**| ||||**-**|**-**|**-**| ||**-**||**-**|**-**|**-**| ||||||| Signed by one or two trustees on behalf of all the trustees Sylvester Ighodalo Akhiwu (Signed) **DIVINE GRACE MISSION REPORT AND ACCOUNTS 2021** Page - 10 - **NOTES TO THE FINANCIAL STATEMENTS** 1. The financial statements of DIVINE GRACE MISSION have been prepared in accordance with the Mosque accounting regulations 2006 using the Receipts and Payments basis. 2. Receipts from donor: individual giving are recognized when the donations are received. 3. The rental amount for the year includes the rent paid for the premises and other expenses **DIVINE GRACE MISSION REPORT AND ACCOUNTS 2021** Page - 11 -