REGISTERED COMPANY NUMBER: (England and Wales) REGISTERED CHARITY NUMBER: 1171587
Report of the Trustees and
Financial Statements for the Year Ended 28 February 2023
for
God's Covenant Life Centre
Peters & Co Chartered Certified Accountants Imperial House 64 Willoughby Lane London N17 0SP
God's Covenant Life Centre
Report of the Trustees
for the Year Ended 28 February 2023
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 28 February 2023. The trustees have adopted the provisions of 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) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The main object of the the organisation is to advance the Christian religion for the benefit of the public by such charitable means as the trustees deem fit.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
God's Covenant Centre is a charitable incorporated organisastion governed by CIO - Foundation Governing Document registered with the Charities Commission on 13 February 2017.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
(England and Wales)
Registered Charity number
1171587
Registered office
103b Seven Sisters Road London N7 7QP
Trustees
Mrs S Tabour D Birke Pastor T N Gate Miss H Tira
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by order of the board of trustees on 17 April 2024 and signed on its behalf by:
D Birke - Trustee
Page 1
God's Covenant Life Centre
| Statement of Financial Activities | |||||
|---|---|---|---|---|---|
| for the Year Ended 28 February 2023 | |||||
| 2023 | 2022 | ||||
| Unrestricted | Total | ||||
| fund | funds | ||||
| Notes | £ | £ | |||
| INCOME AND ENDOWMENTS FROM | |||||
| Donations and legacies | - | 475 | |||
| EXPENDITURE ON | |||||
| Other | 300 | 300 | |||
| NET INCOME/(EXPENDITURE) | (300) | 175 | |||
| RECONCILIATION OF FUNDS | |||||
| Total funds brought forward | 943 | 768 | |||
| TOTAL FUNDS CARRIED FORWARD | 643 | 943 |
The notes form part of these financial statements
Page 2
God's Covenant Life Centre
Balance Sheet
28 February 2023
| 2023 | 2023 | 2022 | ||
|---|---|---|---|---|
| Unrestricted | Total | |||
| fund | funds | |||
| Notes | £ | £ | ||
| CURRENT ASSETS | ||||
| Cash at bank | 2,253 | 2,553 | ||
| CREDITORS | ||||
| Amounts falling due within one year | 6 | (1,610) | (1,610) | |
| NET CURRENT ASSETS | 643 | 943 | ||
| TOTAL ASSETS LESS CURRENT | ||||
| LIABILITIES | 643 | 943 | ||
| NET ASSETS | 643 | 943 | ||
| FUNDS | 7 | |||
| Unrestricted funds | 643 | 943 | ||
| TOTAL FUNDS | 643 | 943 | ||
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
continued...
Page 3
God's Covenant Life Centre
Balance Sheet - continued
28 February 2023
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 17 April 2024 and were signed on its behalf by:
D Birke - Trustee
T N Gate - Trustee
The notes form part of these financial statements
Page 4
God's Covenant Life Centre
Notes to the Financial Statements for the Year Ended 28 February 2023
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Auditors' remuneration for non audit work | 300 | 300 |
continued...
Page 5
God's Covenant Life Centre
for the Year Ended 28 February 2023
Notes to the Financial Statements - continued
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 28 February 2023 nor for the year ended 28 February 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 28 February 2023 nor for the year ended 28 February 2022.
4. STAFF COSTS
The average monthly number of employees during the year was as follows:
| Volunteers No employees received emoluments in excess of £60,000. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES INCOME AND ENDOWMENTS FROM Donations and legacies EXPENDITURE ON Other NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
2023 2022 2 2 Unrestricted fund £ 475 300 175 768 943 |
|---|---|
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
continued...
Page 6
God's Covenant Life Centre
Notes to the Financial Statements - continued for the Year Ended 28 February 2023
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE | YEAR | ||
|---|---|---|---|---|
| 2023 | 2022 | |||
| £ | £ | |||
| Other creditors | 1,310 | 1,310 | ||
| Accrued expenses | 300 | 300 | ||
| 1,610 | 1,610 | |||
| 7. | MOVEMENT IN FUNDS | |||
| Unrestricted funds | At | Net movement 1.3.22 in funds £ £ |
At 28.2.23 £ |
|
| General fund | 943 (300) |
643 | ||
| TOTAL FUNDS | 943 (300) |
643 | ||
| Net movement in funds, included in the above are as follows: | ||||
| Unrestricted funds | Incoming Resources resources expended £ £ |
Movement in funds £ |
||
| General fund | - (300) |
(300) | ||
| TOTAL FUNDS | - (300) |
(300) | ||
| Comparatives for movement in funds | ||||
| Unrestricted funds | At | Net movement 1.3.21 in funds £ £ |
At 28.2.22 £ |
|
| General fund | 768 175 |
943 | ||
| TOTAL FUNDS | 768 175 |
943 |
continued...
Page 7
God's Covenant Life Centre
Notes to the Financial Statements - continued for the Year Ended 28 February 2023
7. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | Movement | |
|---|---|---|---|---|
| resources | expended | in funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 475 | (300) | 175 | |
| TOTAL FUNDS | 475 | (300) | 175 |
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds | At 1.3.21 £ |
Net movement At in funds 28.2.23 £ £ |
|---|---|---|
| General fund | 768 | (125) 643 |
| TOTAL FUNDS | 768 | (125) 643 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds | Incoming Resources resources expended £ £ |
Movement in funds £ |
|---|---|---|
| General fund | 475 (600) |
(125) |
| TOTAL FUNDS | 475 (600) |
(125) |
8. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 28 February 2023.
Page 8
God's Covenant Life Centre
| Detailed Statement of Financial Activities | |||
|---|---|---|---|
| for the Year Ended 28 February 2023 | |||
| 2023 | 2022 | ||
| £ | £ | ||
| INCOME AND ENDOWMENTS | |||
| Donations and legacies | |||
| Donations and other income | - | 475 | |
| Total incoming resources | - | 475 | |
| EXPENDITURE | |||
| Support costs | |||
| Governance costs | |||
| Auditors' remuneration for non audit work | 300 | 300 | |
| Total resources expended | 300 | 300 | |
| Net (expenditure)/income | (300) | 175 | |
This page does not form part of the statutory financial statements
Page 9
God's Covenant Life Centre
Contents of the Financial Statements for the Year Ended 28 February 2023
| Page | ||
|---|---|---|
| Report of the Trustees | 1 | |
| Statement of Financial Activities | 2 | |
| Balance Sheet | 3 to | 4 |
| Notes to the Financial Statements | 5 to | 8 |
| Detailed Statement of Financial Activities | 9 |