ANCHOR CITY CHURCH INTERNATIONAL
ACCOUNTS
31 MARCH 2023
Charity Number 1148041
ANCHOR CITY CHURCH INTERNATIONAL
ACCOUNTS
YEAR ENDED 31 MARCH 2023
| CONTENTS | PAGE |
|---|---|
| Trustees' annual report | 1 |
| Independent examiner's report to the members | 5 |
| Statement of financial activities | 7 |
| Income and expenditure account | 8 |
| Balance sheet | 9 |
| Notes to the accounts | 10 |
ANCHOR CITY CHURCH INTERNATIONAL
TRUSTEES' ANNUAL REPORT
YEAR ENDED 31 MARCH 2023
The trustees present their report and the unaudited accounts of the charity for the year ended 31 March 2023.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered charity name
Anchor City Church International
Charity registration number 1174824
The trustees
The trustees who served the charity during the period were as follows:
Rev Ken Obeng Pastor Ben Owusu Domfeh Ms Mary Acquah Mr David Obeng
Bankers HSBC (Midland) 10 South Mall Edmonton London N9 0QU
Independent Examiners
KBNG Accountants & Business Advisors Sharond Sandhurst Road Tilbury, Essex RM18 8DH
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ANCHOR CITY CHURCH INTERNATIONAL
TRUSTEES' ANNUAL REPORT (continued)
YEAR ENDED 31 MARCH 2023
STRUCTURE, GOVERNANCE AND MANAGEMENT
Background
ACCI is a growing church in London, raised to proclaim the Gospel of Jesus Christ, inspiring hope, Developing, Imparting, Impacting and Releasing both the young and old into their Destinies thus making the experience of the Joy of the Lord and the achievement of purpose a reality. It is a ChristCentred, Multi-Cultural, Family-Oriented Church that teaches the word truthfully and demonstrates the Abundant Life through the Holy Spirit and the Living word of God holistically. Also engaging spiritual gifts, skills, and talents both in the Kingdom of God and local community - connecting people to Christ by testifying and serving needs; One soul at a time.
Governing document
The Charity during the year changed its structure to a Charity Incorporated Organisation (CIO) with a new governing document adopted on 10 August 2017. There are no restrictions in the governing documents on the operation of the charity or on its investment powers other than those imposed by general charity Law.
Leadership Team
The Leadership Team is responsible for the administration and management of the local church, general purposes, finances, and personnel. Capital projects and expenditure require the approval of the leadership team. This team meet regularly to discuss and plan objectives and implementation thereof. All matters are subject to prayer and God's direction. Appointments of officers are governed by the constitution of the church.
Trustee Induction and Training
New trustees undergo orientation where they are briefed on their legal obligations under Charity Law, the content of the constitution and the processes on decision making within the organisation. The Charity encourages trustees to attend, at their discretion; appropriate external training events were these will be of use for the undertaking of the role.
Risk 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 reasonable assurance against fraud and error. The board of trustees actively review the major risks facing the charity on a regular basis and ensure measures are put in place to safeguard the charity's fund and assets. The trustees also ensure that legal advice is sought, when necessary, on crucial issues concerning the ministry.
OBJECTIVES AND ACTIVITIES
We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities.
The vision of the church is "Saving souls and making them better through Christ." To help achieve this, the following objectives have been set:
To expand and develop the ministry of ACCI through Sunday and mid-week worship services, children's ministries, youth ministries, prayer and ministry training, bible studies and small groups meetings.
To minister to the congregation and the local community through family life, relationship, and other ministry programmes.
To establish social programmes to provide food, clothes, and shelter for the needy and care for the sick.
To educate and equip the congregation and other churches in the practice of ministry through ACCI based conferences.
ACHIEVEMENTS AND PERFORMANCE
PUBLIC BENEFIT - MINISTRY OUTREACH AND BENEFITS
• The church's activities are available to Christians and non-Christians, members, and non-members alike; there is no restriction to attendance. The community have been attracted to and enjoyed our weekly services, conferences, and programmes.
• The church celebrated her 10[th] Anniversary during the year and engaged in various community activities like; Community Service, Clean up, Family Fest, Singles conference, Couples forum, Ladies and Men’s empowerment conferences.
• We also aid the local community by providing career counselling, pre-and post-marital counselling, bereavement counselling, hospital visits, prison visits, welfare provision, prayer support, men and women's meetings and supporting local charities.
Volunteers
• Members of the charity who are professionals in their various field of work and study again volunteered in different capacities during the year under review and their work has not been quantified.
FINANCIAL REVIEW
Please refer to the annexed accounts for the details of the financial statements for the year ended 31 March 2023.
PLANS FOR FUTURE PERIODS
• Missions : The Church will continue with mission outreach and donation of essential supplies for the under privileged and orphanages in Africa.
- The church through Anchor Care will continue to support its community-based initiative programmes.
RESPONSIBILITIES OF THE TRUSTEES
The trustees are responsible for preparing the Trustees Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Laws applicable to Charities in England and Wales requires 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, including the income and expenditure for that period.
In preparing these financial statements, the trustees are required to:
· select suitable accounting policies and then apply them consistently;
· observe the methods and principles in the Charities SORP;
· make judgements and estimates that are reasonable and prudent;
· state whether applicable UK Accounting Standards 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 presume that the charity will continue in operation.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with Charities Acts 2011. The trustees 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.
Signed by order of the trustees
Rev Ken Obeng
Trustee
Date: 15 December 2023
ANCHOR CITY CHURCH INTERNATIONAL
INDEPENDENT EXAMINER'S REPORT TO THE MEMBERS OF ANCHOR CITY CHURCH INTERNATIONAL
YEAR ENDED 31 MARCH 2023
I report on the accounts of the charity for the year ended 31 March 2023 which are set out on pages 7 to 13.
RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER
The trustees (who are also the directors of Anchor City Church International for the purposes of company law) are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:
-
examine the accounts under section 145 of the 2011 Act;
-
to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
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to state whether particular matters have come to my attention.
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 accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, 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 accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below.
INDEPENDENT EXAMINER'S STATEMENT
In connection with my examination, no matter has come to my attention:
(1) which gives me reasonable cause to believe that in any material respect the requirements:
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to keep accounting records in accordance with section 386 of the Companies Act 2006; and
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to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities have not been met; or
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Kofi Boahene FCCA, MBA Independent examiner KBNG Accountants & Business Advisors Sharond, Sandhurst Road. Tilbury, Essex. RM18 8DH
Date: 23 December 2023
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ANCHOR CITY CHURCH INTERNATIONAL
STATEMENT OF FINANCIAL ACTIVITIES
YEAR ENDED 31 MARCH 2023
| Total Funds | Total Funds | ||
|---|---|---|---|
| 2023 | 2022 | ||
| Note | £ | £ | |
| INCOMING RESOURCES | |||
| Incoming resources from generating funds: | |||
| Voluntary income | 2 | 108,460 | 121,965 |
| Investment income | 3 | 34 | 4 |
| Incoming resources from charitable activities | 4 | – | 14,681 |
| ────────── | ────────── | ||
| TOTAL INCOMING RESOURCES | 108,494 | 136,650 | |
| ────────── | ────────── | ||
| RESOURCES EXPENDED | |||
| Charitable activities | 5/6 | (96,428) | (133,363) |
| Governance costs | 7 | (9,014) | (9,345) |
| ────────── | ────────── | ||
| TOTAL RESOURCES EXPENDED | (105,442) | (142,708) | |
| ────────── | ────────── | ||
| NET INCOMING/(OUTGOING) RESOURCES FOR THE YEAR | 8 | 3,052 | (6,058) |
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | 34,694 | 40,752 | |
| ───────── | ───────── | ||
| TOTAL FUNDS CARRIED FORWARD | 37,746 | 34,694 | |
| ═════════ | ═════════ |
All of the above amounts relate to continuing activities.
The notes on pages 10 to 13 form part of these accounts.
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ANCHOR CITY CHURCH INTERNATIONAL
INCOME AND EXPENDITURE ACCOUNT
YEAR ENDED 31 MARCH 2023
| 2023 | 2022 | ||||
|---|---|---|---|---|---|
| Note | £ | £ | £ | ||
| INCOME | 108,460 | 136,646 | |||
| TOTAL EXPENDITURE | (105,162) | (142,264) | |||
| ────────── | ────────── | ||||
| OPERATING SURPLUS/(DEFICIENCY) | 8 | 3,298 | (5,618) | ||
| OTHER INCOME | |||||
| Interest receivable and similar income | 3 | 34 | 4 | ||
| ─────── | ─────── | ||||
| 3,332 | (5,614) | ||||
| INTEREST PAYABLE | |||||
| Interest payable | (280) | (444) | |||
| ─────── | ─────── | ||||
| RETAINED SURPLUS/(DEFICIT) FOR THE FINANCIAL YEAR | 3,052 | (6,058) | |||
| ═══════ | ═══════ |
All of the above amounts relate to continuing activities.
The notes on pages 10 to 13 form part of these accounts.
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ANCHOR CITY CHURCH INTERNATIONAL
BALANCE SHEET
| 31 MARCH | 2023 | |||
|---|---|---|---|---|
| 2023 | 2022 | |||
| Note | £ | £ | £ | |
| FIXED ASSETS | ||||
| Tangible assets | 10 | 25,885 | 26,322 | |
| CURRENT ASSETS | ||||
| Cash at bank | 14,261 | 10,771 | ||
| CREDITORS: Amounts falling due within one year | 11 | (2,400) | (2,399) | |
| ───────── | ───────── | |||
| NET CURRENT ASSETS | 11,861 | 8,372 | ||
| ───────── | ───────── | |||
| TOTAL ASSETS LESS CURRENT LIABILITIES | 37,746 | 34,694 | ||
| ───────── | ───────── | |||
| NET ASSETS | 37,746 | 34,694 | ||
| ═════════ | ═════════ | |||
| FUNDS | ||||
| Unrestricted income funds | 12 | 37,746 | 34,694 | |
| ───────── | ───────── | |||
| TOTAL FUNDS | 37,746 | 34,694 | ||
| ═════════ | ═════════ |
The notes on pages 10 to 13 form part of these accounts.
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ANCHOR CITY CHURCH INTERNATIONAL
NOTES TO THE ACCOUNTS
YEAR ENDED 31 MARCH 2023
1. ACCOUNTING POLICIES
1.1 Basis of accounting
The financial statements have been prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards, the Statement of Recommended Practice "Accounting and Reporting by Charities" issued in March 2005 (SORP 2005)
1.2 Incoming resources
All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income. Voluntary income is received by way of donations, offerings and tithes and is included in full in the statement of financial activities when receivable.
1.3 Resources expended
Expenditure is recognised on an accrual basis as a liability is incurred. Costs of generating funds comprise the costs associated with attracting voluntary income. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Fixed assets
All fixed assets are initially recorded at cost.
Depreciation
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Equipment - 25% reducing balance.
2. VOLUNTARY INCOME
| VOLUNTARY INCOME | |||
|---|---|---|---|
| Unrestricted | Total Funds | Total Funds | |
| Funds | 2023 | 2022 | |
| £ | £ | £ | |
| Donations | |||
| Tithes & Offering | 88,591 | 88,591 | 99,180 |
| Gift Aid | 19,869 | 19,869 | 22,785 |
| ────────── | ────────── | ────────── | |
| 108,460 | 108,460 | 121,965 | |
| ══════════ | ══════════ | ══════════ |
3. INVESTMENT INCOME
| INVESTMENT INCOME | |||
|---|---|---|---|
| Unrestricted | Total Funds | Total Funds | |
| Funds | 2023 | 2022 | |
| £ | £ | £ | |
| Bank interest receivable | 34 | 34 | 4 |
| ════ | ════ | ════ | |
| INCOMING RESOURCES FROM CHARITABLE ACTIVITIES | |||
| Total Funds | Total Funds | ||
| 2023 | 2022 | ||
| £ | £ | ||
| Grants | – | 14,681 | |
| ════ | ═════════ |
4. INCOMING RESOURCES FROM CHARITABLE ACTIVITIES
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ANCHOR CITY CHURCH INTERNATIONAL
NOTES TO THE ACCOUNTS
YEAR ENDED 31 MARCH 2023
5. COSTS OF CHARITABLE ACTIVITIES BY FUND TYPE
| Unrestricted | Total Funds | Total Funds | |
|---|---|---|---|
| Funds | 2023 | 2022 | |
| £ | £ | £ | |
| Telephone | 1,880 | 1,880 | 2,427 |
| Honorarium | 3,000 | 3,000 | 9,150 |
| Donations & Charities | 1,973 | 1,973 | 3,578 |
| Pastoral & Members Welfare | 5,951 | 5,951 | 14,894 |
| Media, Mission & Outreach | 14,333 | 14,333 | 13,232 |
| Rent, Repairs & Premises Expenses | 20,002 | 20,002 | 25,290 |
| Services & Church Expenses | 30,653 | 30,653 | 27,435 |
| Miscellaneous Motor Expenses | 150 | 150 | 715 |
| Gross Wages & NI | 18,000 | 18,000 | 36,542 |
| Subscriptions & Insurance | 486 | 486 | 100 |
| ───────── | ───────── | ────────── | |
| 96,428 | 96,428 | 133,363 | |
| ═════════ | ═════════ | ══════════ |
6. COSTS OF CHARITABLE ACTIVITIES BY ACTIVITY TYPE
| Activities | |||
|---|---|---|---|
| undertaken | Total Funds | Total Funds | |
| directly | 2023 | 2022 | |
| £ | £ | £ | |
| Telephone | 1,880 | 1,880 | 2,427 |
| Honorararium | 3,000 | 3,000 | 9,150 |
| Donations & Charities | 1,973 | 1,973 | 3,578 |
| Pastoral & Members Welfare | 5,951 | 5,951 | 14,894 |
| Media, Mission & Outreach | 14,333 | 14,333 | 13,232 |
| Rent, Repairs & Premises Expenses | 20,002 | 20,002 | 25,290 |
| Services & Church Expenses | 30,653 | 30,653 | 27,435 |
| Miscellaneous Motor Expenses | 150 | 150 | 715 |
| Gross Wages & NI | 18,000 | 18,000 | 36,542 |
| Subscriptions & Insurance | 486 | 486 | 100 |
| ───────── | ───────── | ────────── | |
| 96,428 | 96,428 | 133,363 | |
| ═════════ | ═════════ | ══════════ |
7. GOVERNANCE COSTS
| Unrestricted | Total Funds | Total Funds | |
|---|---|---|---|
| Funds | 2023 | 2022 | |
| £ | £ | £ | |
| Professional fees | 2,400 | 2,400 | 2,401 |
| Interest payable | 280 | 280 | 444 |
| Bank Charges | 235 | 235 | 294 |
| Depreciation | 5,933 | 5,933 | 4,572 |
| Other pension costs | 166 | 166 | 1,634 |
| ─────── | ─────── | ─────── | |
| 9,014 | 9,014 | 9,345 | |
| ═══════ | ═══════ | ═══════ |
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ANCHOR CITY CHURCH INTERNATIONAL
NOTES TO THE ACCOUNTS
YEAR ENDED 31 MARCH 2023
8. NET INCOMING/ (OUTGOING) RESOURCES FOR THE YEAR
This is stated after charging:
| This is stated after charging: | ||
|---|---|---|
| 2023 | 2022 | |
| £ | £ | |
| Depreciation | 5,933 | 4,572 |
| ═══════ | ═══════ | |
| STAFF COSTS AND EMOLUMENTS | ||
| Particulars of employees: | ||
| The average number of employees during the year, was as follows: | ||
| 2023 | 2022 | |
| No. | No. |
9. STAFF COSTS AND EMOLUMENTS
No employee received remuneration of more than £60,000 during the year (2022 - Nil).
10. TANGIBLE FIXED ASSETS
| Equipment | |
|---|---|
| £ | |
| COST | |
| At 1 April 2022 | 57,775 |
| Additions | 5,496 |
| ───────── | |
| At 31 March 2023 | 63,271 |
| ═════════ | |
| DEPRECIATION | |
| At 1 April 2022 | 31,453 |
| Charge for the year | 5,933 |
| ───────── | |
| At 31 March 2023 | 37,386 |
| ═════════ | |
| NET BOOK VALUE | |
| At 31 March 2023 | 25,885 |
| ═════════ | |
| At 31 March 2022 | 26,322 |
| ═════════ |
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ANCHOR CITY CHURCH INTERNATIONAL
NOTES TO THE ACCOUNTS
YEAR ENDED 31 MARCH 2023
11. CREDITORS: Amounts falling due within one year
| 2023 | 2022 | ||||
|---|---|---|---|---|---|
| £ | £ | ||||
| Accruals and deferred income | 2,400 | 2,399 | |||
| ═══════ | ═══════ | ||||
| 12. | UNRESTRICTED INCOME FUNDS | ||||
| Balance at | Incoming | Balance at | |||
| 1 April 2022 | resources | 31 | March 2023 | ||
| £ | £ | £ | |||
| General Funds | 34,694 | 3,052 | 37,746 | ||
| ═════════ | ═══════ | ═════════ |
| 13. | ANALYSIS OF NET ASSETS BETWEEN FUNDS | |||
|---|---|---|---|---|
| Tangible | Net current | |||
| fixed assets | assets | Total | ||
| £ | £ | £ | ||
| Unrestricted Income Funds | 25,885 | 11,861 | 37,746 | |
| ───────── | ───────── | ───────── | ||
| Total Funds | 25,885 | 11,861 | 37,746 | |
| ═════════ | ═════════ | ═════════ |
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