2021-12-31-accounts - Evangelical Global Outreach

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EVANGELICAL GLOBAL OUTREACH (EVAGLO) FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2021

CHARITY REGISTRATION NO: 1174112

EVANGELICAL GLOBAL OUTREACH (EVAGLO) FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2021

CONTENTS:	PAGES
Legal and Administrative Information	2
Report of Trustees	3
Statement of Financial Activities	4
Balance Sheet	5
Notes to the Financial Statements	6-8
Income and Expenditure Statement	9

EVANGELICAL GLOBAL OUTREACH (EVAGLO) ADMINISTRATIVE INFORMATION YEAR ENDED 31 DECEMBER 2021

Committee Members: Mrs Omowumi Bakare (Chairperson) Stella Jaiyesimi (Treasurer) Peter Irojah (Secretary) Florence Akanmu (Trustee) Sarah Adeyemo (Trustee) Charity Registration Number: 1174112 Registered Office: 94, Lawrence Street London E16 1HQ Bankers: HSBC Plc Sort Code: 400630 Account Number: 53811212

EVANGELICAL GLOBAL OUTREACH (EVAGLO) MANAGEMENT COMMITTEE REPORT YEAR ENDED 31 DECEMBER 2021

The Management Committee present their annual report and the financial statements of the charity for the year ended 31st December 2021. The committee have adopted the provisions of the Statement of Recommended Practice (SORP) ‘Accounting and reporting by Charities’ issued in March 2005.

STRUCTURE, GOVERNANCE & MANAGEMENT:

Governing Document:

The charity is controlled by its governing document, the charity constitution, and constitutes an unincorporated charity.

RISK MANAGEMENT:

The management committee has a duty to identify and review the risk to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

PRINCIPAL ACTIVITIES

The principal activities of the organisation are

Advancement of charitable faith
The advancement of Christian living and lifestyle
Education and training
Poverty alleviation locally and overseas
Promotion of Christian living and lifestyle
Supporting and collaborating with other charities
Facilitating community cohesion and provision of social and community services
• Promotion of community and family projects.

STATEMENT OF MANAGEMENT COMMITTEE RESPONSIBILITIES

The Management Committee is required to prepare financial statements which give a true and fair view of the state of affairs of the project and of the income and expenditure of the project for that period. In preparing those statements the Management Committee are required to:

select suitable accounting policies and apply them consistently;
make judgements and estimates that are reasonable and prudent;
state whether applicable standards and statement of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements; and
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the project will continue in operation.

The Management Committee are responsible for keeping proper records which disclose with reasonable accuracy at any time the financial position of the project. They are also responsible for safeguarding the assets of the project and hence for taking reasonable steps to prevent and detect fraud and other irregularities.

Omowumi Bakare (Chairperson)

…………… O.F. Bakare …………

EVANGELICAL GLOBAL OUTREACH (EVAGLO) STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 DECEMBER 2021

INCOMING RESOURCES	Notes Unrestricted Funds: 2021	Notes Unrestricted Funds: 2021
Incoming resources from generated funds		£
Voluntary income (Donations)	2	9248
		9248
RESOURCES EXPENDED
Resources Expended on Charitable Activities		6721
Management Cost		3886
Finance Charges		665
Total resources expended	3	11272
Net Income/Expenditure for the Year		2024
Reconciliation Of Funds:
Total funds brought forward		6203
Total funds for the year		(2024)
Total funds Carried Forward		4179

None of the charity’s activities were acquired or discounted during the year under review and there were no recognised gains or losses for 2021 and 2020 other than those included in the statement of financial activities.

EVANGELICAL GLOBAL OUTREACH (EVAGLO) BALANCE SHEET AT 31 DECEMBER 2021

Notes Fixed Assets: Tangible assets 7 Current Assets: Cash/ Bank balances 185 Current Liabilities: Creditors falling due within one year (0) NET CURRENT ASSETS: CREDITORS: Falling due after more than one year 8 NET ASSETS/(LIABILITIES) Funds: 9 Unrestricted funds for the year TOTAL FUNDS	Unrestricted Funds 2021 £ 3994 1544 (0) 185 4179 0 4179 4179 4179	Unrestricted Funds 2020 £ 4659 1544
		6203 0
		6203
		5768
		5768

The financial statements were approved by the Board of Trustees on ………26[th] February, 2022……… And were signed on its behalf

Omowumi Bakare (Chairperson) …………… O.F. Bakare ……………………………………

Stella Jaiyesimi (Treasurer) ……………… Yemi Jaiyesimi……………………………

EVANGELICAL GLOBAL OUTREACH (EVAGLO) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2021

1. ACCOUNTING POLICIES:

Basis of preparation of Financial Statements:

The financial statements are prepared under the historic cost convention and include the results of the charity’s operations which are described in the Management Committees Report and all of which are continuing.

The accounts have been prepared in accordance with the Statements of Recommended Practice for charity accounts.

The charity has taken advantage of the exemption of Financial Reporting Standard No1 from the requirements to produce a cash flow statement on the grounds that it qualifies as a small charity

Incoming Resources:

Revenue grants are credited to the Statement of Financial Activities on the earlier date of when they are received or when they are receivable, unless they relate to a specific future period, in which case they are included on the Balance Sheet as deferred income to be recognised in the future accounting period.

Grants received for specific purposes are accounted for as restricted funds in the Statement of Financial Activities.

Resources Expended:

All expenditure is accounted for on accrual basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributable to a particular heading, they have been allocated to activities on the basis consistent with the use of resources.

Charitable Activities:

Cost of charitable activities are those costs relating to the activities carried out to meet the objectives of the charity. These include both direct attributable costs and apportioned support costs.

Restricted Funds:

Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is identified to the fund, together with a fair allocation of management and support costs.

Unrestricted Funds:

Unrestricted funds are donations and other incomes received or generated for the objects of the organisation without further specified purpose and are available for general funds.

Designated Funds:

Designated funds are unrestricted funds earmarked by the Management Committee for particular purposes.

Capital Equipment – Depreciation:

Depreciation on fixed assets is provided for at 10% on cost in order to write off each asset over its estimated useful life. A register of equipment/furniture is kept by the charity.

EVANGELICAL GLOBAL OUTREACH (EVAGLO) NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2021 (cont’d)

2. Incoming Resources: Voluntary income: Donations Total incoming resources RESOURCES EXPENDED: Trustees' remuneration 3. Charitable activities: Training & Tuition fees Welfare - annual food bank Mission Support for other charities Total charitable costs: 4. SUPPORT COSTS: MANAGEMENT: TMH Media (media ministry Accountancy/Professional fees Gocardless Donations Entertainment Printing, Stationeries, & Postages Back support foam Transport. Travelling & Subsistence Advert &publication 5. Support costs: Finance charges: Bank charges Depreciation cost Total resources expended Net Incoming Resources/Expenditure:	2021 £ 9248 9248 0 4000 1679 1042 0 6721 1200 110 0 40 0 1072 0 805 450 3886 0 665 665 11272 (2024)	2020 £ 7536
		7536
		0
		120 1007 2036 0
		3163
		1200 100 0 380 48 855 0 450 240
		3273
		0 665
		665
		7101
		435

6. Staff costs:

There were no trustee’s expenses paid for the year ended 31 December 2021 or for the prior year ended 31 December 2020.

EVANGELICAL GLOBAL OUTREACH (EVAGLO) NOTES TO THE FINANCILA STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

7 . Fixed Assets:

TANGIBLE FIXED ASSETS: £ At 1 January 2021 Additions At 31 December 2021 DEPRECIATION: Opening balance 1995 Charge for the year 665 NET BOOK VALUE: At 31 December 2021 At 31 December 2020	£ 6654 0
	6654
	2660
	2660
	3994
	4659

CREDITORS: There were no creditors falling due for the year ended 31 December 2021.

9.MOVEMENTS IN FUNDS: Net movement in fund Unrestricted funds £ General fund for the year 9248 Total funds 9248 Net movement in funds, included in the above are as follows: Incoming Resources resources expended £ £ Unrestricted funds: General fund 9248 (11272) Total funds 9248 (11272) General fund for the year Total funds	9.MOVEMENTS IN FUNDS: Net movement in fund Unrestricted funds £ General fund for the year 9248 Total funds 9248 Net movement in funds, included in the above are as follows: Incoming Resources resources expended £ £ Unrestricted funds: General fund 9248 (11272) Total funds 9248 (11272) General fund for the year Total funds	Move't in fun At 31/12/21 £ 9248
		9248
		Move't in funds £ 2024
	9248 (11272)	435
		(2024)
		(2024)

EVANGELICAL GLOBAL OUTREACH (EVAGLO) INCOME & EXPENDITURE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2021

2. Incoming Resources: Voluntary income: Donations Total incoming resources RESOURCES EXPENDED: Trustees' remuneration 3. Charitable activities: Training & Seminar on mental health Welfare - annual food bank Mission Support for other charities Total charitable costs: 4. SUPPORT COSTS: MANAGEMENT: TMH Media (media ministry Accountancy/Professional fees BACP Donations Entertainment Printing. Stationeries & Postages DBS Transport. Travelling & Subsistence Advert &publication 5. Support costs: Finance charges: Bank charges Depreciation cost Total resources expended Net Incoming Resources/Expenditure:	2021 £ 9248 9248 0 4000 1679 1042 0 6721 1200 110 164 40 0 1073 44 805 450 3886 0 665 665 11272 (2024)	2020 £ 7536
		7536
		0
		120 1007 2036 0
		3163
		1200 100 0 380 48 855 0 450 240
		3273
		0 665
		665
		7101
		435