Registered Charity Number - 1174986
NEW COVENANT CHURCH LEWISHAM CIO
TRUSTEES REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 December 2021
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NEW COVENANT CHURCH LEWISHAM CIO
Annual Trustees Report and Financial Statements
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees and Directors:
ALEXANDER ADEYEMO
DELE AMUSAN OLASUBOMI LADELE
AMINAT ADETOUN ADEFARAKAN
Registered office:
Linscot, London Rd Swanley, Kent BR8 7AQ
Charity number:
1174986
Accountants and Independent Examiner:
Tunde Aikomo 48 Beaumont Road Purley Surrey CR8 2EG
Bankers:
NatWest PLC
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NEW COVENANT CHURCH LEWISHAM CIO
Trustees Report For The Year Ended 31st December, 2021
The trustees present their report with the financial statements of the charity for the year ended 31 December 2021. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities' issued in July 2014.
STRUCTURE, GOVERNANCE AND MANAGEMENT
The trustees work closely with the executive team who were delegated to handle the day to day running of the charity. The trustees hold meetings throughout the year where the executive team are directed to promote the policies, strategies, programmes, and projects geared towards achieving the charitable objectives. The charity also collaborates with the New Covenant Charity 1004343 where our objectives align. This relationship is governed by a ‘Joint Working Agreement between the parties.
Risk management
In January 2020, the world witnessed an unprecedented global pandemic and effects of the COVID-19 pandemic was immense. Coronavirus disease (COVID-19) is an infectious disease caused by the SARS-CoV-2 virus. The operations/activities of the charity were greatly impacted by the governmental guidelines and various opportunities and innovations were embraced. The trustees recognise their duty to identify and review the risks to which the charity is exposed, and appropriate controls and mitigations were put in place to provide reasonable assurance against pandemic, fraud, errors, and health concerns.
Objectives and Activities
The Objectives of the CIO as set out in the governing documents:
- 1) The advancement of Christian Faith in the United Kingdom and abroad for public benefit.
2) The relief of persons who are in conditions of need, hardship, distress or who are sick and aged in the United Kingdom or abroad.
- 3) The relief of Poverty.
Principal activities
The Principal Activities of the CIO are Christian worship and involvement of various ministries and ministers of religion in propagating the Christian Tenets of faith to members (and non-members) who seek to learn and develop an understanding of the Gospel through the various meetings provided by the Charity. There is also an extension of the Christian Faith through other direct Community Outreach Programmes.
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Charitable activities
The Board of Trustees are pleased to report as follows:
PUBLIC BENEFIT
The Advancement of Christian Faith
The trustees of the CIO having due regard for reporting the public benefit provided by the charity in line with the Charities Act 2011, are pleased to report that the church is involved with many community focus outreach programmes and project providing direct benefits for the public in the United Kingdom.
Places of worship
The provision and places of Christian Worship are important functions of the Charity's activities which provides members of the public with the ongoing opportunity to attend worship services on a regular basis thereby enabling them to grow and develop in the Christian faith, teachings and principles.
We have continued the practice of having all worship activities and meetings virtually via zoom and only meet physically in joint worship with another New Covenant Church or periodically in a park when the weather permits. This includes all worship services, teaching sessions and prayer meetings, ‘Illuminate’ provides biblical teachings on Wednesdays evenings and ‘Shalom’ – a night of ministry on 1st Friday of every month. ‘Morning Glow’ provided an opportunity for the church to meet daily for a 15 mins devotional service. These progressive strategies contributed to increase commitment to advancing the gospel, propagate church growth, attendance and commitment to the Christian faith, teachings, and principles.
Children & Teen Ministry
The Children & Teen ministry held monthly virtual services throughout the year on 2[nd] Sundays for children based on the age classification. A variety of delivery tools including teaching, music, drama, and dance sessions were used. The focus is to bring biblical truth into their day-to-day consciousness and impact biblical values.
Children Sunday and Teen Sunday are days set aside which gave the children and teens the opportunity to lead the main service on a Sunday which they do with confidence, demonstrating knowledge and understanding of Bible teachings and principles.
The teens are being mentored into leadership roles through opportunities to serve in various departments of the charity
Covenant Men, Covenant Women & Covenant Culture Outreach Ministries
The Youth Fellowship met physically in homes every week on Mondays while the other ministries met virtually on zoom on a monthly basis (1[st] Sundays) for fellowship and encouragement to develop their personal relationship with and to further enable individual to build strong Christian families, church and communities which then inevitably impacts on building a strong Christian nation.
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These ministries provided advice and support on social issues, family, career, and personal and spiritual issues.
Evangelism
A global family conference themed – ‘There is a sound from Heaven’ aimed at knowing what God is saying to the churches was held 2[nd] – 4[th] July 2021, Other evangelism and outreach strategies of the church was limited to monthly outdoor services with social distancing during the summer months based on government guidelines. These services were held at the College Park, Bromley.
RELIEF OF PERSONS IN CONDITIONS OF NEED HARDSHIP, DISTRESS, SICK OR AGED
Providing for the Elderly, Sick and Aged
In line with the Charity’s objective to provide relief to persons who are in conditions of need, hardship, distress, sick or aged, The Charity support various COVID support initiatives including support those on mandatory isolations. We help with their support and food delivery
Pastoral Care & Bereavement Support.
The Charity provided care and counselling to bereaved families who have lost loved ones especially during the pandemic. The charity additionally provided financial help to bereaved families to assist them in such times of difficulties. It provides ongoing pastoral care to beneficiaries (in and out of the church) according to their needs.
RELIEF OF POVERTY AND HARDSHIP
Food Bank
This service was suspended in line with COVID restrictions
Community Breakfast Morning Outreach - Bromley
This service was suspended in line with COVID restrictions
VOLUNTEERING
The charity's volunteers provided an invaluable contribution in various areas of service provision, development, and implementation of the church's vision. We provide a volunteers' training programme that caters for their welfare, spiritual and socio-economic developmental needs
RESERVE POLICY
The Charity maintains unrestricted funds, which are the free reserves of the charity, at a level that is at least twelve months of committed expenditure, excluding financing and other costs. Excess
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unrestricted funds, to the extent represented by liquid assets, will be used to meet recurrent operational costs, except where the Trustees consider that the funds should be retained for possible future projects.
INVESTMENT POLICY
The Trustees have the power to invest in such assets as they deem fit. The charity's investment policy is appropriate to the nature of the funds for which the investment is held. The primary investment aim is to provide a high degree of security and liquidity and to maximise returns whilst adopting a conservative approach.
GRANT-MAKING POLICY
The Charity does not provide grants and therefore do not have a policy on grant-making. The Trustees, however, give gifts and donations as an effective means of delivering support and assistance to other programmes that fit within the objectives of the Charity.
Under the 'Joint Working Agreement’ (see Related Party Relationships above), New Covenant Church Lewisham CIO has agreed to make a regular proportional contribution to Global Promotion of the Christian Faith via New Covenant Church UK (1004343). Additionally, the charity supports missionary organisation such as Global Mission, Liberty, etc. The charity also provides support to members of the church congregation who are in need.
FINANCIAL REVIEW
The book values of the assets held at the yearend are, in the opinion of the Board of Trustees, as stated in the financial statements. Also, in its opinion, adequate assets are available to fulfil the obligations of the charity. The assets were largely in respect of savings in anticipation of future projects.
A summary of the result of the Charity’s activities during the period is given in the Statement of Financial Activities.
By Order of the Board of Trustees
OLASUBOMI LADELE
Trustee
Date: 23rd...Day of. ...October....2022
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New Covenant Church – Lewisham CIO 1174986
Report of the Independent Accountant to the Trustees of the charity on the accounts for the period ended 31 December 2021
Our responsibility as an independent examiner is to look at the charity’s records for the period being examined and to give an informed opinion, based on the records, about whether we have found any evidence to suggest that the accounts have not been kept properly, or that the figures being presented by the Treasurer do not tally with the records that have been kept.
Our responsibility is to prepare accounts upon the basis of the information supplied to us, without conducting any formal scrutiny. We have therefore reported on the financial statements of New Covenant Church, Lewisham CIO for the period ended 31 December 2021 as set out on pages 1- 11 on the Financial report of the charity, which comprise the Statement of Financial Activities, the Income and Expenditure Account, the Balance Sheet, the Cash Flow Statement and the related notes to the financial statements, including a summary of significant accounting policies.
In our opinion, the accompanying financial statements of the charity are prepared, in all material respects, in accordance with charity law applicable within the jurisdiction of England & Wales and the accounts have been prepared in accordance with FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in February 2016), (The SORP), published by the Charity Commission in England & Wales (CCEW), effective January 2016, under the historical cost convention, and in accordance with the accounting policies set out in section 3 of the SORP, which framework constitutes the applicable United Kingdom Generally Accepted Accounting Practice.
Respective responsibilities of the directors and the accountant.
As described in section 1.7 of the SORP, you, the charity's Trustees are responsible for the preparation of the accounts. The Trustees consider that the audit requirement of Section 144(1) of the Charities Act 2011 (the Act) does not apply, and that there is no requirement in the Governing Document for the conducting of an audit. The Trustees also consider the charity to be exempt from the requirement to be subject to Independent Examination.
Our responsibility is to prepare accounts upon the basis of the information supplied to us, without conducting any formal scrutiny.
Therefore on the basis of the information supplied to us we only carried out the following:
• Establish the opening and closing balances of the relevant bank accounts and established that the records that make up the accounts tally with bank records of all outgoings and transactions coming into the accounts.
• We did not check the paperwork supporting income. However, the charity’s main incomes come from tithes and offering collected on their service or meeting days. We spoke to the treasurer and the explanations were satisfactory to conclude the examinations.
• We did not check paperwork supporting expenditure. However we established that at least 2 signatures that are required by their internal control systems showed have been complied with respect to drawing cheques, to make internet payments, and to authorise larger payments by cash. The signatories are currently authorised officers of the charity.
• We checked that individual items were reasonable.
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No Statement of Opinion
We have not carried out any audit procedures and have relied upon information supplied to us by the Trustees, and the information supplied by the Trustees in the course of the examination is not subjected to audit tests or enquiries, and consequently we do not express an audit or other assurance opinion on the view given by the accounts.
Signed
Tunde Aikomo ACMA/CGMA Independent Examiner
Kingsviews Associates Ltd 48 Beaumont Road Purley Surrey CR8 2EG
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New Covenant Church - Lewisham - Statement of Financial Activities for the year ended 31 December 2021
Statement of Financial Activities for the year ended 31 December 2021
| Income & Endowments from: Total income Expenditure on: Total expenditure Net gains on investments Net income for the year Transfers between funds Net income after transfers Other recognised gains/(losses)7 Net gains on revaluation of fixed assets Net actuarial gains on defined pension benefit schemes Costs of fundamental reorganisation or restructuring Extraordinary items Net movement in funds Raising funds Charitable activities Other Tax on surplus on ordinary activities Donations & Legacies Charitable activities Other trading activities Investments Other |
Current year Unrestricted Funds 2021 £ 59,232 59,232 - - - - |
Current year Unrestricted Funds 2021 £ 59,232 59,232 - - - - |
Current year Restricted Funds 2021 £ |
Current year Restricted Funds 2021 £ |
Current year Total Funds 2021 £ 59,232 - 30,365 - - 30,365 - 28,868 - 28,868 - 28,868 59,232 - - - - - - - |
Prior Year Total Funds 2020 £ |
Prior Year Total Funds 2020 £ |
|
|---|---|---|---|---|---|---|---|---|
| 59,232 - - - - |
- - - - - |
59,232 - - - - |
54,550 - - |
|||||
| - | 54,550 | |||||||
| - 30,365 - - |
- - - - |
- 57,769 - - |
||||||
| 30,365 | - | 57,769 | ||||||
| - | - | - | ||||||
| 28,868 - |
- - |
-3,219 - |
||||||
| 28,868 - 28,868 - - - |
- - - - - - |
-3,219 - -3,219 - - - |
||||||
| - - - |
||||||||
9
Reconciliation of funds:Total funds brought forward - - - -
10
Total funds carried forward
28,868 - 28,868 -3,219
The 'SORP Ref' indicated above is the classification of income set out in the formal SORP documents. As required by paragraph 4.60 of the SORP, the brought forward and carried forward funds above have been agreed to the Balance Sheet.
A separate Statement of Total Recognised Gains and Losses is not required as this statement includes all recognised gains and losses.
All the prior year transactions were unrestricted items, and no further analysis is required
All activities derive from continuing operations
Last year's SOFA - Analysis required by 4.2 of the SORP
| Prior Year Unrestricted Funds 2020 £ 0 0 0 Prior Year Restricted Funds 2020 £ Prior Year Total Funds 2020 £ - - |
Prior Year Restricted Funds 2020 £ |
Prior Year Total Funds 2020 £ - - |
|---|---|---|
Income from:
11
| Donations & Legacies | - | - | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Charitable activities | 54,550 |
- | 54,550 | |||||||
| Other trading activities | - | - | ||||||||
| Investments | - | - | ||||||||
| Other | - | - | ||||||||
| Total income | 54,550 | - | 54,550 | |||||||
| Expenditure on: | ||||||||||
| Raising funds | - | - | - | |||||||
| Charitable activities | 57,769 | - | 57,769 | |||||||
| Other | - | - | - | |||||||
| Tax on surplus on ordinary activities | - | - | - | |||||||
| Total expenditure | 57,769 | 57,769 |
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Net gains on investments
| et gans on nvestments Net income for the year Transfers between funds Net income after transfers Other recognised gains/(losses) Net movement in funds Reconciliation of funds:- Total funds brought forward Total funds carried forward Net gains on revaluation of fixed assets Net actuarial gains on defined pension benefit schemes Costs of fundamental reorganisation or restructuring Extraordinary items |
- -3,219 - |
- -3,219 - |
- - - |
- - - |
- -3,219 - -3,219 - - - - ~~-~~ - - |
- -3,219 - -3,219 - - - - ~~-~~ - - |
|
|---|---|---|---|---|---|---|---|
| -3,219 - |
- - |
||||||
| - | - | - | |||||
| ~~-~~ - - |
~~-~~ - - |
~~-~~ - - |
|||||
| - - |
- - |
||||||
| -3,219 | - | -3,219 |
All activities derive from continuing operations
Statement of Total Recognised Gains and Losses for the year ended 31 December 2021
2021 2020 £ £
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Surplus for the year :-
| Surplus for the year :- | Surplus for the year :- | ||||||
|---|---|---|---|---|---|---|---|
| Net excess of income over expenditure from operations before tax | 28,868 | (3,219) | |||||
| Realised gains on the disposal of tangible fixed assets | - | - | |||||
| Realised gains on the disposal of intangible fixed assets | - | - | |||||
| Realised gains on the disposal of heritage fixed assets | - | - | |||||
| Realised net Gains Spare heading for realised gains and losses- replace with tex | - | - | |||||
| Income from operations before tax in the Statement of Financial Activities | 28,868 | (3,219) | |||||
| Realised gains on the disposal of investments | - | - | |||||
| Realised net actuarial gains on defined benefit schemes | - | - | |||||
| Costs of fundamental reorganisation or restructuring | - | - |
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| Extraordinary items Surplus as shown in the Income and Expenditure account 28,868 Add/(deduct) non income and expenditure items:- Net Movement in funds before taxation Taxation arising in the year Funds generated in the year as shown on Statement of Financial Activities Gains on the revaluation of tangible fixed assets Gains on the revaluation of heritage fixed assets Unrealised gains on investments Unrealised net actuarial gains on defined benefit schemes Gift aid payments made Grants for the acquisition of fixed assets Actuarial gains |
- (3,219) - - 28,868 - - - - - - - - |
- |
|---|---|---|
| - - - - - - - - - |
||
| - | ||
| (3,219) |
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Statement of application of resources
New Covenant Church - Lewisham - Resources applied in the year ended 31 December 2021 towards fixed assets for Charity use:-
| December 2021 towards fixed assets for Charity use:- | |||
|---|---|---|---|
| Net resources available to fund charitable activities Funds generated in the year as detailed in the SOFA Resources applied on functional fixed assets Investment in programme related investments Resources applied on Intangible assets Resources applied on Heritage assets |
2021 £ 59,232 59,232 - - - - |
2020 £ |
|
| 54,550 - - - - |
|||
| 54,550 |
Movements in funds Movements in revenue and capital funds for the year ended 31 December 2021
Revenue accumulated funds
| Revenue accumulated funds | ||||
|---|---|---|---|---|
| f Accumulated funds brought forward Recognised gains and losses before transfers |
Unrestricted Funds 2021 £ - 28,868 28,868 |
Restricted Funds 2021 £ - - |
Total Funds 2021 £ - 28,868 |
|
| - | 28,868 | |||
| - - - - |
||||
| (From)/To unrestricted revenue unds Net actuarial gains on defined p schemes ension benefit Costs of fundamental reorganisa restructuring tion or Exceptional items |
- - - - |
- - - - |
||
Closing revenue funds
28,868 - 28,868 55,700
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Designated funds
Designated revenue funds included within the unrestricted funds above
| Total Funds 2021 £ |
Last year Total Funds 2020 £ |
|
|---|---|---|
17
| At 1 January | - | - | ||
|---|---|---|---|---|
| Transfer (to)/from revenue accumulated funds | - | - | ||
| At 31 December | - | - |
At 31 December
| Fixed Asset funds | ||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Fixed asset funds | Designated Funds |
Restricted Funds |
Total Funds |
Last year Total Funds |
||||||||||||||
| 2021 | 2021 | 2021 | 2020 | |||||||||||||||
| £ | £ | £ | £ | |||||||||||||||
| At 1 January | - | - | - | - | ||||||||||||||
| Transfer (to)/from revenue funds | - | - | - | - | ||||||||||||||
| At 31 December | - | - | - | - |
| Revaluation Reserve Fund | ||||||||
|---|---|---|---|---|---|---|---|---|
| Revaluation Reserve Fund | Unrestricted Funds 2021 |
Restricted Funds 2021 |
Total Funds 2021 |
Last year Total Funds 2020 |
||||
| £ | £ | £ | £ | |||||
| - | ||||||||
| At 1 January | - | - | - | - | ||||
| Transfer (to)/from revenue funds | - | - | - | |||||
| Net gains on revaluation of fixed assets | - | - | - | |||||
| - |
-
At 31 December
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| Summary of Funds Summary of funds |
icted Unrestricted Restr |
icted Unrestricted Restr |
icted Unrestricted Restr |
icted Unrestricted Restr |
Total | Last Year | Last Year | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| and | s Fund |
Funds | Total Funds | |||||||||||||||||
| Designated funds | ||||||||||||||||||||
| 2021 | 020 2 |
2021 | 2020 | |||||||||||||||||
| £ | £ | £ | ||||||||||||||||||
| £ | ||||||||||||||||||||
| Share capital and share premium | - | - | - | - | ||||||||||||||||
| Revenue accumulated funds | 28,868 | - | 28,868 | 55,700 | ||||||||||||||||
| Revenue designated funds | - | - | - | - | ||||||||||||||||
| Fixed asset funds | - | - | - | - | ||||||||||||||||
| Revaluation reserve fund | - | - | - | - | ||||||||||||||||
| Total funds | 28,868 | - | 28,868 | 55,700 |
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Income and Expenditure account
New Covenant Church – Lewisham Income and Expenditure Account for the year ended 31 December 2021 as required by
| Income | 59,232 59,232 2021 £ 59,232 - - - - - - - - - - - 22,176 - - 8,189 - - - - - - - - - - |
2021 £ |
2021 £ |
54,550 54,550 2020 £ 54,550 - - - - - - - - - - - 49.442 - - 8,327 - - - - - - - - |
|---|---|---|---|---|
| Income from operations Realised Gains on the disposal of investments Realised gains on disposals of social investments which are programme related Gift aid donations received from subsidiary undertaking |
||||
| Gross income in the year before exceptional items Investment income Income from investments, other than interest receivable Interest receivable Other operating income |
||||
| Exceptional items: Realised gains on disposals of tangible fixed assets held for the charity’s own use Realised gains on the disposal of intangible assets |
||||
| Gross income in the year including exceptional items Expenditure Realised net actuarial gains on defined benefit schemes Realised gains on disposals of heritage assets Spare heading for realised gains and losses- replace with text |
||||
| Charitable expenditure, excluding depreciation and amortisation Depreciation and amortisation Fundraising costs Governance costs Other expenditure Interest payable Realised losses on the disposal of investments Realised losses on disposals of social investments which are programme related Realised losses on disposals of tangible fixed assets held for the charity’s own us Realised losses on the disposal of intangible assets Realised losses on disposals of heritage assets Spare heading for realised gains and losses- replace with text |
||||
| Realised net actuarial losses on defined benefit schemes Costs of fundamental reorganisation or restructuring |
||||
| - - |
||||
20
Total expenditure in the year
30,365 57,769
-
21
| Extraordinary items Net income before tax in the financial year Tax on surplus on ordinary activities Net income after tax in the financial year Gift Aid donations made Retained surplus for the financial year |
- 28,868 - 28,868 - 28,868 |
- |
|---|---|---|
| -3,219 - |
||
| -3,219 - |
||
| -3,219 |
All activities derive from continuing operations
22
New Covenant Church - Lewisham - Balance Sheet as at 31 December 2021
| Notes Total fixed assets - Total current assets Creditors: amounts falling due within one year Net current assets Net assets Creditors: amounts falling due after more than one year Provisions for contingent assets Net assets Defined benefit pension scheme assets The total net assets of the charity Current assets Stocks Debtors Investments held as current assets Cash at bank and in hand Fixed assets Intangible assets Tangible assets Heritage assets Investments held as fixed assets Social investments |
3,056 - - 69,277 |
66,327 - - - - 69,383 2021 £ - 3,056 - - - |
2021 £ |
3,056 - - - 58,650 58,650 (2,950) 55,700 - - - - - 58,756 2020 £ - 3,056 - - - |
2020 £ |
|---|---|---|---|---|---|
| 69,277 (2,950) |
|||||
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The total net assets of the charity are funded by the funds of the charity, as follows:-
| - - 55,506 |
- - 55,506 |
- - 38,830 - |
|||
|---|---|---|---|---|---|
| There are no unanalysed prior period funds Restricted funds Restricted Revenue Funds Restricted Fixed Asset Funds |
- | ||||
| Restricted Revaluation Reserve | - | - | - - |
||
| Unrestricted Funds Pension reserve Total charity funds Called up share capital Share premium Unrestricted Revenue Funds Unrestricted Revaluation Reserve Designated Funds Designated Revenue Funds Designated Fixed Asset Funds |
|||||
| - 16,870 - 58,756 - - - - - |
|||||
| - - |
- 13,877 |
- - |
|||
| - | |||||
| - 69,383 - - - |
|||||
The Trustees acknowledge their responsibilities for complying with the requirements of charity legislation with respect to accounting records and the preparation of accounts.
The charity is subject to Independent Examination under charity legislation, and the report of the Independent Examiner is on page 11.
The Trustees are satisfied that, although the charity is not registered under the Companies Acts, if it were so registered, it would be eligible to prepare accounts in accordance with the provisions in Part 15 of the Companies Act 2006. applicable to companies subject to the small companies’ regime.
Approved by the Board of Trustees
OLASUBOMI LADELE
Chair of Board of Trustees
Date: 8th...Day of. ...October....2022