2020-09-13-accounts

CHARITY REGISTRATION NUMBER: 1172172

GENESIS CHRISTIAN LIFE FELLOWSHIP Charitable Incorporated Organisation Unaudited Financial Statements 13 September 2020

JAVY AND CO LTD

Chartered Certified Accountants 127 Sewell Road London SE2 9DH

GENESIS CHRISTIAN LIFE FELLOWSHIP

Charitable Incorporated Organisation

Financial Statements

Year ended 13 September 2020

	Page
Trustees' annual report (incorporating the director's report)	1
Independent examiner's report to the trustees	10
Statement of financial activities (including income and
expenditure account)	11
Statement of financial position	12
Statement of cash flows	13
Notes to the financial statements	14
The following pages do not form part of the financial statements
Detailed statement of financial activities	21
Notes to the detailed statement of financial activities	22

GENESIS CHRISTIAN LIFE FELLOWSHIP

Charitable Incorporated Organisation

Trustees' Annual Report (Incorporating the Director's Report)

Year ended 13 September 2020

The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 13 September 2020.

Reference and administrative details

Registered charity name	GENESIS CHRISTIAN LIFE FELLOWSHIP
Charity registration number	1172172
Principal office and registered	42 Camden Road
office	Chafford Hundred
	Grays
	RM16 6PY
	United Kingdom
The trustees
	Pastor Andrew Quartey
	Mrs Diana Quartey
	Rev Philip Ankrah
	Mr Nnaemeka Umeadi
	Sunil Kishore Persaud
Independent examiner	Mr Johnson Akpebu - FCCA, MBA(Fin)
	127 Sewell Road
	London
	SE2 9DH

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GENESIS CHRISTIAN LIFE FELLOWSHIP

Charitable Incorporated Organisation

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 13 September 2020

Structure, governance and management

The organisation is a Charitable Incorporated Organisations (CIO), incorporated on 21 March 2017 at Charity Commission with registration number 1172172. The charity is governed by Charitable Incorporated Organisation (CIO) - Foundation which established the objects and powers of the charitable organisation. The Board of Trustees are responsible for all the legal and financial administration of the charity that Genesis CLF - is registered under. They are the final authority for the Trust when it comes to legal and financial decisions. The current board of Trustees consist of:

Andrew Quartey- Chair of Trustees Philip Ankrah - Trustee Diana Quartey - Trustee Meka Umeadi - Trustee Sunil Kishore Persaud- Trustee

Organisational Structure

The Leadership Team is responsible for the spiritual and administrative oversight of Genesis CLF - with all its functional components. They act as the final authority with regards to spiritual matters and work alongside the Trustees of Genesis CLF to ensure proper governance in an ex officio capacity. The Leadership Team as of 13th September 2020 are:

Andrew Quartey- Pastor Venessa Johnson Christiana Persaud Diana Quartey Gladys Asamoah Sunil Kishore Persaud

Recruitment and Appointment of Trustees

The trustees of the organisation are also Charity Trustees for the purpose of charity law. Appointment of trustees were initially by recommendation of the general council of the church and then approved by the church members and the pastoral boards.

Trustees Induction and Training

Most trustees are familiar with the workings of the church and charity being drawn from long-standing church members and Christians from other denominations that have a skill-set to offer and an empathy with our core values. An information pack has been prepared from Charity Commission signpost through the commissions guide " the Essential Trustee" this is given to all new Trustees couple with training seminars. New trustees are invited and encourage to attend a series of short training sessions led by the Chair of the trustees. These covers: The Obligation of trustees, The main documents of the charity - CIO Foundation, The Charities Financial Statements and the future plans and objectives.

Risks Management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide assurance against fraud and error. The Trustees is ultimately responsible for the system of internal control and for reviewing its effectiveness. The Trustees has reviewed the effectiveness of the system of internal controls, it has reviewed and updated the process for identifying and evaluating the major risks affecting the charity and the policies and procedures by which risks are managed. The Core leaders are responsible for the identification and evaluation of significant risks applicable to their areas of business together with the design and operation of suitable controls. These risks are assessed on a continuing basis and may be associated

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GENESIS CHRISTIAN LIFE FELLOWSHIP

Charitable Incorporated Organisation

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 13 September 2020

with a variety of internal or external control sources including control breakdowns, disruptions in information systems and regulatory requirements.

Related Party

Since 1st January 2017 Genesis CLF have been officially decentralised from CLF Global (CLF) - which also includes City Faith Ministries Trust (CFMT) and for the purposes of this report any reference to CLF will also include CFMT as they are the same entity), meaning that we are no longer financially and administratively dependant on CFMT's central funds or head office.

Genesis CLF, in addition to all existing CLF churches and ministries became responsible for their own legal, financial and administrative affairs, whilst remaining within the CLF family of churches and ministries. CFMT continue to act as Genesis CLF 's umbrella charity.

Genesis CLF- met the following criteria in order to be recognised as a church decentralised from CFMT and continue to operate under the following:

1. Recognise the apostolic leadership of the Senior Eldership in the UK and are willing to submit to their leadership as outlined in CFMT's constitution

2. Acknowledge their membership of CLF on their website, letterheads, formal documents and include the CLF name in all their publicity

3. Have their own pastor(s) and are submitted to the CLF Eldership in the UK and their delegated officers worldwide

4. Are financially responsible for all their affairs and are willing to fulfil their financial obligations to CLF worldwide: " A recommended 10% of tithes from local Churches in the UK to be sent to Head office monthly (details of this are noted within our accounts for 2018) and 5% contribution to CLM.

5. Have a formal membership of 15-20 or more adults. Formal members of a CLF Church are those members who have completed CLF's membership orientation course and have received the right-hand of fellowship.

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GENESIS CHRISTIAN LIFE FELLOWSHIP

Charitable Incorporated Organisation

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 13 September 2020

Objectives and activities

Trustees Report Charity's Public Benefit

The main aims and Objectives of the charity is:

The advancement of the Christian religion and Christian activities in United Kingdom and the world. Genesis CLF is a family church and registered charity committed to serving the community, inspired by our faith in Jesus Christ and a desire to live and share the good news of our faith with our community. We are a non-denominational Church and a member of the Evangelical Alliance (UK). There is only one way to save the world and it is through Jesus Christ in John 3:16 the bible says for God so loved the world that he gave His only begotten son that who so ever believes in him should not perish but have everlasting live. We believe that no man can save the world other than through Jesus the bible say no one can come to the farther except through the Son Jesus. Therefore, Genesis CLF is committed and passionate about continuing the work that Jesus began, the recovery of sight to the poor, healing the sick, setting the captives free from bondage, healing the broken-hearted and reaching its community with the Good news of Jesus Christ. John 14;12, Luke 14:15-16

Our Mission

Loving God, raising fruitful disciples and advancing the kingdom.

The scripture that underpins our mission is: ‘Proverbs 8:35 - For those who find me find life and receive favour from the LORD'

Our Vision

Our vision is that we are a church that believes passionately in discipleship making movement. (DMM)

Our core values

Our core values are those ideals we are unwilling to compromise as we fulfil our purpose. They are derived from our mission and embrace the following:

1. Discipleship, we are committed to raise true and fruitful disciples of Jesus. (Genesis 1:28) (Exodus

2. 1:7) (Leviticus 26:9) (Act 14:17) (Colossians 1:10) (2 peter 1:5-11)

3. Excellence, we desire to serve God diligently and with the spirit of Excellence that honours God. (2 Corinthians 4:7).

4. The Great Commission, we have an evangelistic lifestyle of communicating the gospel of Jesus through word and deed. (Matthew 28:19)

5. Church planting, we will be planting churches where every opportunity arises. (Galatians 2:20) (Ephesians 3:17) (James 2:14) (Hebrews 10:38).

6. Relationship, we are committed to building a healthy loving relationship with God and people. (Mark 12:13).

7. Power, demonstrating the power of God to set people free. (Mark 6:7(Mark 5:30) (Luke 1:17(Luke

8. 4:14) (Luke 4:36) Act 1:8) (Act 5:12) (Romans 9:17) (1 Corinthians 2:4) (2 Corinthians 13:4) (1 Thessalonians 1:5) (2 Timothy 1:7).

9. Servant leadership, we reproduce servant leadership by leading by example. (Mark

10. 9:35) (John 15:15) (1 Corinthians 9:19).

11. Prayer, we elevate communication with God for personal transformation and ministry. (Mathew 21:13) (Mathew 21:22).

12. Faith, we raise disciples who walk by faith through the obedience of His word

13. Holy Spirit, we treasure and consciously create an environment where the Holy Spirit is respected, expected and welcomed.

14. Worship, we worship God through our walk life and the expression of our passion for Him both personally and corporately.

Genesis CLF uses both its corporate and local vision (i.e., corporate vision: "Making an impact" and local vision: "Raising a passionate follower of Jesus Christ with a conviction of discipleship making movement and divine fruitfulness, meaning wining souls and discipling them to do the same, being fruitful in family life, personal life and in do so advance the Kingdom of God. Church planting with a multiplication vision") meaning planting churches that plants churches through

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GENESIS CHRISTIAN LIFE FELLOWSHIP

Charitable Incorporated Organisation

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 13 September 2020

our main active components and activities as outlined in the highlights of the year. These main active components of Genesis Christian Life Fellowship (Genesis CLF) in 2020 were: outreach, discipleship, fellowship, prayer and special services as outlined below:

Outreach

Throughout 2020, we continued with our emphasis both collectively and individually to reach out to our community and to those in our life groups in order to share the gospel of Jesus. During the summer of 2020, we continued to actively reach out to the community through street evangelism, leafleting the Borough of Enfield, friends and family evangelism, as well as distributing our free hamper coupons both on the streets and door to door. This became a challenge when the pandemic hit, and lockdown started to increase. We hard to put our missions to Guyana, Malta and Oklahoma on hold and it is on periodic review to set a new date depending on government lockdown guideline.

Discipleship

In conjunction with our outreach emphasis and in obedience to the need to make disciples in accordance with New Testament doctrine, the following initiatives/ministries were birthed to help facilitate discipleship:

• Fruitful Life Groups: A gathering of at least two people, designed to teach the Bible and personalise an individual's Christian faith and development with the purpose that the groups multiply over time. Two fruitful life groups functioned in 2020.

• Bible Studies: Dedicated personal study of the scriptures either one to one or in pairs. Two Bible study groups functioned in 2020.

• Our focus for 2020 is to raise and build a culture of discipleship making, this started to have an impact of spiritual growth in the members and increase in members taking leadership responsibilities and others joining various departments as workers and using their God given gift and talents

• Christian Life Training Institute: Christian Life Training Institute (CLTI) is the Bible School initiative of CLF Global which we commenced and completed locally in Genesis CLF. It aims to serve our mission and vision to make disciples of Jesus Christ by equipping our members and the wider body of Christ with a Christ centered perspective to life and ministry. CLTI offers two flagship courses

• Ministerial Training Course (MTC) for the spiritually mature, and Christian Discipleship Course (CDC) for believers who desire to be equipped as Disciples of Christ, this was very beneficial to our members.

• During the pandemic the Hamper Ministry continued to: Provide practical support and care to the homeless, low-income families, single parents family's and under privileged, we changed our Sunday hamper program to home delivery service.

• G Kids Club is our Sunday school ministry: Genesis CLF believes that every child is unique and created in the image of God, therefore should be loved, valued and treasured.

• Magnificent 12: Women's discipleship and mentorship group

• Magnificent 12: Men's pastoral care and mentorship group

Fellowship

In order to continue our emphasis to help develop relationships and to help cultivate a family spirit, we continued to hold regular fellowship throughout the year both in church members' homes and at our church address, namely: " A trip to Southend-On-Sea carnival this was cancelled in 2020 and 2021due to the pandemic. " Christmas day Service

• Women's Fellowship

• Fruitful life group fellowship once a one

• Easter Sunday celebration

• Father's Day service

• Mother's Day service

Prayer

We continued our usual online prayer conference application in the form of weekly Friday evening

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GENESIS CHRISTIAN LIFE FELLOWSHIP

Charitable Incorporated Organisation

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 13 September 2020

prayer meetings for two hours, half night prayer once a month was replaced by corporate half night prayers meeting for four hours. We increased our prayer efforts to daily one hour morning prayer from Monday to Friday, this has contributed increase in spiritual development and growth.

Special Services

We held a number of themed special services during 2020, namely:

• Easter Service

• Pre Christmas-Service

• Sunday Brunch Service

• New Year's Day service

• Father's Day service

• Mather's day service

Strategic report

Our strategy speaks to us of how we pursue and fulfil our mission and vision. We pursue our vision through a commitment to:

1. Prayer and the word of God

2. Evangelism and missions

3. Planting strong and dynamic churches with a multiplication vision.

4. Plant fruitful life groups within each Church with an aim of raising fruitful disciples who makes disciples of Jesus and raises others to do the same.

5. Membership Development Program (MDP) including CLTI - being rigorous and deliberate in how we develop our members over a seven-stage process:

Stage 1 - New Believers Course

Stage 2 - New Members Orientation Course Stage 3 - Spiritual Maturity Course also Christian Discipleship Course Stage 4 - Ministry Orientation for Church Workers Stage 5 - Leadership Orientation course Stage 6 - Ministerial Training course Stage 7 - Ordination Process

The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

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GENESIS CHRISTIAN LIFE FELLOWSHIP

Charitable Incorporated Organisation

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 13 September 2020

Achievements and performance

The highlights of 2020 are those achievements and activities that we felt underpinned the mission and vision of Genesis CLF during that year. These included:

Our vibrant social lives before the pandemic were replaced by a reality of countless days alone at home. This as a resulted affected our strategy to impact our community with the gospel of Jesus as set up in our gaols, although this didn't stop us, it did restrict our accessibility to the public and manpower.

We had to strategize our evangelistic efforts of reaching the lost from traditional methods and increasing our digital presence online to target specified audience using face book, YouTube, and the website.

The church was unable to meet up face to face on Sundays to worship together, as a result employed conference platforms such as Zoom to hold our main Sunday services.

Other challenges where the digital platforms did not have the same impact as face-to-face Sunday service, some of our members were unable to adopt to the change of using digital technology, therefore were unable to log into the platform, others decided to visit other churches who were meeting face to face.

The positive is we were still able to have, Sunday service, bible studies, prayer meeting both locally and corporately and leadership training although it did not have the same impact as face to face it is sustaining the church.

• Guest speakers (Pastor Joseph Boadu, Pastor John, Pastor Peter, Pastor Otis)

• Sunday food hamper program later changed to Saturday delivery service

• Pre-Christmas service

• Easter celebration service

• Joint CLF anniversary service

• Southend-On-Sea Carnival.

• Street evangelism

• CLF wide Refresh conference

Numerical Growth

Attendance at our Sunday services during 2020 have been on average approximately 22-34 people made up of approximately 22 adults and 4-8 children. We have continued to address this through outreach, personal invitations and prayer.

Genesis Sunday Hamper Program

Our Sunday hamper programs was affected by the pandemic and as a result we hard to adapt a new strategy of Saturday home delivery service, due to limited resources we restricted our home delivery service to postcodes closer to the church especially the ponders end arear. Locally, we have leafleted the Ponders End, Edmonton Green and some parts of Enfield during the Winter and Summer of 2019 and have also used a local food bank distribution in Enfield to hand over our free food hampers. Geneses hamper program have been unable to reach wider audience due to lack of volunteers, thirdly we have limited financial support and transportation to provide more food hampers to those families who are unable to attend and collect their hamper, we have issues of storage facilities. We will continue to work on a strategy to help boost the project and work in partnership with Tesco food store, Marks and Spencer, Enfield Foodbank, Aldi, Lidl, local GPs, local schools, to help as voucher distributors and food-bank supporters.

Partnership Organisations and Ministries

In addition to Genesis CLF initiatives and activities, we continued to support and partner with the following organisations in conjunction with our mission:

• Tesco Food store" Enfield Food Bank

• Aldi

• Lidl

• Marks and Spencer

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GENESIS CHRISTIAN LIFE FELLOWSHIP

Charitable Incorporated Organisation

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 13 September 2020

Financial review

The total incoming resources for the year have increased by about 68.46% to £37,316 (2019 £22,151. This increment arose as a result of provision for HMRC Gift Aid submitted. The total resources expended has decreased by about 12.46% to £19,978 (2019 £22,823). Subsequently the net surplus is £17,338 (2019 loss of £672). The trustees are truly grateful to the faithful members and visitors for their continued support of the charity.

Reserve Policy

The trustees recognise the need to maintain reserves. Unrestricted funds are needed to cover the day-to-day administration and support costs of the charity. It is a policy to hold reserves of approximately three months' expenditure in addition to any designated funds. Even though no formal policy is in place, they have always kept reserves at a level that exceeds the current periods running and administration expenses. Reserves funds are always maintained at levels that mitigate unexpected incidents including sudden increase in expenses, unexpected loss of income, uninsured losses or one-time nonrecurring expenses that build long term capacity.

Risk Management

The major risks to which the charity is exposed have been identified as the safeguarding the assets of charity and ensuring funds are applied for charitable purposes. Systems and strategies have been put in place to mitigate these risks. Income and expenditure are monitored through the setting of budgets which are compared with actual figures. Regular finance quarterly reports are given to members in the congregations

Plans for future periods

CFMT's aim was to continue in its commitment to church development, church planting, ministries, missions and leadership development and its main emphasis for 2020 was "a year of IMPACT". Genesis CLF were encouraged to contextualise this emphasis locally. Other areas of corporate goals and activity

CFMT Special Services:

• Anniversary weekend in March

• Prophetic School of Ministry in April

• Annual Refresh conference in July

• Envisioning weekend in September

• Men, Women, and Youth events

• Marriage Seminars

• School of Evangelism throughout the year

• Apostolic Summits in the UK

• CLTI (Bible School) Christian Discipleship Course and Ministerial Training Course throughout the year in the UK, Ghana, Sierra Leone, and Kenya " Missions to Sierra Leone, Kenya, Liberia, Nigeria, and Ghana

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GENESIS CHRISTIAN LIFE FELLOWSHIP

Charitable Incorporated Organisation

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 13 September 2020

The trustees' annual report and the strategic report were approved on 14 July 2021 and signed on behalf of the board of trustees by:

Pastor Andrew Quartey Trustee

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GENESIS CHRISTIAN LIFE FELLOWSHIP

Charitable Incorporated Organisation

Independent Examiner's Report to the Trustees of GENESIS CHRISTIAN LIFE FELLOWSHIP

Year ended 13 September 2020

I report to the trustees on my examination of the financial statements of GENESIS CHRISTIAN LIFE FELLOWSHIP ('the charity') for the year ended 13 September 2020.

Responsibilities and basis of report

As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act’).

Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

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

1. accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or

2. the financial statements do not accord with those records; or

3. the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act 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; or

4. the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

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.

Mr Johnson Akpebu - FCCA, MBA(Fin) Independent Examiner

127 Sewell Road London SE2 9DH

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GENESIS CHRISTIAN LIFE FELLOWSHIP

Charitable Incorporated Organisation

Statement of Financial Activities (including income and expenditure account)

Year ended 13 September 2020

		2020		2019
		Unrestricted
		fundsTotal funds		Total funds
	Note	£	£	£
Income and endowments
Donations and legacies	5	37,308	37,308	22,137
Investment income	6	8	8	14
		────────	────────	────────
Total income		37,316	37,316	22,151
		════════	════════	════════
Expenditure
Expenditure on charitable activities	7,8	19,978	19,978	22,823
		────────	────────	────────
Total expenditure		19,978	19,978	22,823
		════════	════════	════════
		────────	────────	────────
Net income/(expenditure) and net movement in funds		17,338	17,338	(672)
		════════	════════	════════
Reconciliation of funds
Total funds brought forward		3,336	3,336	4,008
		────────	────────	────────
Total funds carried forward		20,674	20,674	3,336
		════════	════════	════════

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The notes on pages 14 to 19 form part of these financial statements.

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GENESIS CHRISTIAN LIFE FELLOWSHIP

Charitable Incorporated Organisation

Statement of Financial Position

13 September 2020

		2020	2019
	Note	£	£
Current assets
Debtors	12	14,569	–
Cash at bank and in hand		6,705	4,536
		────────	───────
		21,274	4,536
Creditors: amounts falling due within one year	13	600	1,200
		────────	───────
Net current assets		20,674	3,336
		────────	───────
Total assets less current liabilities		20,674	3,336
		────────	───────
Net assets		20,674	3,336
		════════	═══════
Funds of the charity
Unrestricted funds		20,674	3,336
		────────	───────
Total charity funds	14	20,674 ════════	3,336 ═══════

For the year ending 13 September 2020 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

• The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

These financial statements were approved by the board of trustees and authorised for issue on 14 July 2021, and are signed on behalf of the board by:

Pastor Andrew Quartey Trustee

The notes on pages 14 to 19 form part of these financial statements.

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GENESIS CHRISTIAN LIFE FELLOWSHIP

Charitable Incorporated Organisation

Statement of Cash Flows

Year ended 13 September 2020

	2020	2019
	£	£
Cash flows from operating activities
Net income/(expenditure)	17,338	(672)
Adjustments for:
Other interest receivable and similar income	(8)	(14)
Accrued (income)/expenses	(600)	600
Changes in:
Trade and other debtors	(14,569)	–
	────────	────
Cash generated from operations	2,161	(86)
Interest received	8	14
	───────	────
Net cash from/(used in) operating activities	2,169	(72)
	═══════	════
Net increase/(decrease) in cash and cash equivalents	2,169	(72)
Cash and cash equivalents at beginning of year	4,536	4,608
	───────	───────
Cash and cash equivalents at end of year	6,705	4,536
	═══════	═══════

The notes on pages 14 to 19 form part of these financial statements.

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GENESIS CHRISTIAN LIFE FELLOWSHIP

Charitable Incorporated Organisation

Notes to the Financial Statements

Year ended 13 September 2020

1. General information

The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is 42 Camden Road, Chafford Hundred, Grays, RM16 6PY, United Kingdom.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Companies Act 2006.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

There are no material uncertainties about the charity's ability to continue.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements did not require management to make any judgements, estimates and assumptions that affect the amounts reported.

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.

Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.

Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.

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GENESIS CHRISTIAN LIFE FELLOWSHIP

Charitable Incorporated Organisation

Notes to the Financial Statements (continued)

Year ended 13 September 2020

3. Accounting policies (continued)

Incoming resources

All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:

• income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.

• legacy income is recognised when receipt is probable and entitlement is established.

• income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.

• income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.

Resources expended

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:

• expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.

• expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.

• other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

Financial instruments

A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.

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GENESIS CHRISTIAN LIFE FELLOWSHIP

Charitable Incorporated Organisation

Notes to the Financial Statements (continued)

Year ended 13 September 2020

3. Accounting policies (continued)

Financial instruments (continued)

Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.

Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.

Debt instruments are subsequently measured at amortised cost.

Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.

Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Limited by guarantee

The organisation is a Charity Incorporated Organisation

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GENESIS CHRISTIAN LIFE FELLOWSHIP

Charitable Incorporated Organisation

Notes to the Financial Statements (continued)

Year ended 13 September 2020

5. Donations and legacies

	Unrestricted	Total Funds	Unrestricted	Total Funds
	Funds	2020	Funds	2019
	£	£	£	£
Donations
Offerings	2,814	2,814	2,707	2,707
Tithes	19,925	19,925	19,430	19,430
HMRC Charity Gift Aid	14,569	14,569	–	–
	────────	────────	────────	────────
	37,308	37,308	22,137	22,137
	════════	════════	════════	════════

6. Investment income

	Unrestricted	Total Funds	Unrestricted	Total Funds
	Funds	2020	Funds	2019
	£	£	£	£
Bank interest receivable	8	8	14	14
	════	════	════	════
Expenditure on charitable activities by fund type
	Unrestricted	Total Funds	Unrestricted	Total Funds
	Funds	2020	Funds	2019
	£	£	£	£
Evangelism and Events	17,715	17,715	19,019	19,019
Stewardship and Donations	1,663	1,663	3,204	3,204
Support costs	600	600	600	600
	────────	────────	────────	────────
	19,978	19,978	22,823	22,823
	════════	════════	════════	════════

7. Expenditure on charitable activities by fund type

8. Expenditure on charitable activities by activity type

	Activities
undertaken			Total funds	Total fund
	directly Support costs		2020	2019
	£	£	£	£
Evangelism and Events	17,715	–	17,715	19,019
Stewardship and Donations	1,663	–	1,663	3,204
Governance costs	–	600	600	600
	────────	────	────────	────────
	19,378	600	19,978	22,823
	════════	════	════════	════════
Independent examination fees
			2020	2019
			£	£
Fees payable to the independent examiner for:
Independent examination of the financial statements			600	600
			════	════

9. Independent examination fees

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GENESIS CHRISTIAN LIFE FELLOWSHIP

Charitable Incorporated Organisation

Notes to the Financial Statements (continued)

Year ended 13 September 2020

10. Staff costs

The total staff costs and employee benefits for the reporting period are analysed as follows:

2020 2019 £ £

The average head count of employees during the year was Nil (2019: Nil).

No employee received employee benefits of more than £60,000 during the year (2019: Nil).

11. Trustee remuneration and expenses

No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.

12. Debtors

	2020	2019
	£	£
Other debtors	14,569	–
	════════	════
Creditors: amounts falling due within one year
	2020	2019
	£	£
Accruals and deferred income	600	1,200
	════	═══════

13. Creditors: amounts falling due within one year

14. Analysis of charitable funds

Unrestricted funds

Unrestricted funds
		At			At
	14	September		13	Septembe
		2019	Income	Expenditure	r 2020
		£	£	£	£
General funds		3,336	37,316	(19,978)	20,674
		═══════	════════	════════	════════
		At			At
	14	September		13	September
		2018	Income	Expenditure	2019
		£	£	£	£
General funds		4,008	22,151	(22,823)	3,336
		═══════	════════	════════	═══════

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GENESIS CHRISTIAN LIFE FELLOWSHIP

Charitable Incorporated Organisation

Notes to the Financial Statements (continued)

Year ended 13 September 2020

15. Analysis of net assets between funds

	Unrestricted	Total Funds
	Funds	2020
	£	£
Current assets	21,274	21,274
Creditors less than 1 year	(600)	(600)
	────────	────────
Net assets	20,674	20,674
	════════	════════
	Unrestricted	Total Funds
	Funds	2019
	£	£
Current assets	4,536	4,536
Creditors less than 1 year	(1,200)	(1,200)
	───────	───────
Net assets	3,336	3,336
	═══════	═══════

16. Analysis of changes in net debt

		At		At
	14	Sep 2019	Cash flows	13 Sep 2020
		£	£	£
Cash at bank and in hand		4,536	2,169	6,705
		═══════	═══════	═══════

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GENESIS CHRISTIAN LIFE FELLOWSHIP

Charitable Incorporated Organisation

Management Information

Year ended 13 September 2020

The following pages do not form part of the financial statements.

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GENESIS CHRISTIAN LIFE FELLOWSHIP

Charitable Incorporated Organisation

Detailed Statement of Financial Activities

Year ended 13 September 2020

	2020	2019
	£	£
Income and endowments
Donations and legacies
Offerings	2,814	2,707
Tithes	19,925	19,430
HMRC Charity Gift Aid	14,569	–
	────────	────────
	37,308	22,137
	────────	────────
Investment income
Bank interest receivable	8	14
	────	────
	────────	────────
Total income	37,316	22,151
	════════	════════
Expenditure
Expenditure on charitable activities
Rent	4,600	5,498
Insurance	1,280	267
Other motor/travel costs	2,570	4,545
Legal and professional fees	600	600
Telephone	669	752
Other office costs	2,473	2,019
Evangelism and Donations	3,953	4,936
Publicity and Hospitality	1,168	1,363
Honorarium	1,700	1,720
Leadership Training and Music	965	1,123
	────────	────────
	19,978	22,823
	────────	────────
	────────	────────
Total expenditure	19,978	22,823
	════════	════════
	────────	────────
Net income/(expenditure)	17,338	(672)
	════════	════════

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GENESIS CHRISTIAN LIFE FELLOWSHIP

Charitable Incorporated Organisation

Notes to the Detailed Statement of Financial Activities

Year ended 13 September 2020

	2020	2019
	£	£
Expenditure on charitable activities
Evangelism and Events
Activities undertaken directly
Direct charitable activity - rent	4,600	5,498
Direct charitable activity - insurance	1,280	267
Direct charitable activity - other motor/travel costs	2,570	4,545
Direct charitable activity - Website and telephone	669	752
Direct charitable activity - other office costs	2,473	2,019
Direct charitable activity - Evangelism and social events	3,293	3,160
Direct charitable activity - Publicity and Advertising	309	578
Direct charitable activity - Honorarium	1,700	1,720
Direct charitable activity - Leadership Training	821	480
	────────	────────
	17,715	19,019
	────────	────────
Stewardship and Donations
Activities undertaken directly
Direct charitable activity - Donation to charitable organisation	660	1,776
Direct charitable activity - Hospitality	859	785
Direct charitable activity - Musical and Sound Team	144	643
	───────	───────
	1,663	3,204
	───────	───────
Governance costs
Governance costs - accountancy fees	600	600
	────	────
	────────	────────
Expenditure on charitable activities	19,978	22,823
	════════	════════

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