COMPANY NO 10893974 CHARITY NO 1175905
CHRIST MERCY GOSPEL CHURCH LTD
ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 AUGUST 2021
Gift Aid Services 31/08/2021
ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 AUGUST 2021
CHRIST MERCY GOSPEL CHURCH LTD
REPORT AND FINANCIAL STATEMENTS
For the period ended 31 August 2021
COMPANY REGISTRATION NO 10893974
Directors Bolanle Abiola Ogabi
Accountants Gift Aid Services 63 Wansford Road Woodford Green Essex IG8 7AD
Bankers TSB PLC
Registered office Room 16 St Margarets House 21 Old Ford Road London E2 9PL
Contents Company information Directors' report Profit and loss account Balance sheet Notes to the accounts
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CHRIST MERCY GOSPEL CHURCH LTD
Directors' Report
The directors present their report and accounts for the year ended 31 August 2021.
Principal activities
The Company was incorporated on 1 August 2017. The company's principal activity during the year was religious activities.
Directors
The following directors who have served since incorporation are: Bolanle Abiola Ogabi
The directors are required by UK Company Law to prepare accounts for each financial year which give a true and fair view of the state of affairs of the company and the group at the end of the financial year and of the profit or loss for that period.
In preparing the accounts, the directors are required to select appropriate accounting policies and apply them consistently, to make reasonable and prudent judgments and estimates, and to state that all applicable accounting standards have been followed, save as disclosed and explained in the accounts. The directors are also required to prepare the accounts on the going concern basis unless it is inappropriate to presume that the group will continue in business.
The directors have responsibility for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the company and which enable them to ensure that the accounts comply with the Companies Act 2006. The directors also have general responsibility for taking such steps as are reasonably open to them to safeguard the assets of the group and to prevent and detect fraud and other irregularities.
This report was approved by the board on ………January 2022
Bolanle Abiola Ogabi ..............................................................................
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CHRIST MERCY GOSPEL CHURCH LTD
Profit and Loss Account for the year ended 31 August 2021
| 08/2021 | 08/2021 | 08/2020 | ||
|---|---|---|---|---|
| Notes | ||||
| £ | ||||
| Turnover | 50,008 | 25,612 | ||
| Administrative cost | (47,970) | (20,158) | ||
| Gross Profit/Loss | 2 |
2,038 | 5,454 | |
| Interest Receivable | - | |||
| Profit/loss on ordinary | ||||
| activities before taxation | 2,308 | 5,454 | ||
| Taxation | 4 | (0) | (0) | |
| Profit/Loss on ordinary activities | after taxation | 2,308 | 5,454 | |
| Retain profit b/fwd | 6,310 | 1,370 | ||
| Dividends | 5 | 0 | 0 | |
| Retained profit for the | 8,348 | 6,310 | ||
| Financial year |
The operating profit for the period arises from the company’s continuing operation.
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CHRIST MERCY GOSPEL CHURCH LTD
BALANCE SHEET As at 31 August 2021
| 31/08/2021 | ||
|---|---|---|
| Notes | £ | |
| Fixed Assets | 6 | - |
| Current Assets | ||
| Debtors | 6 | |
| Cash & Bank | 8,348 |
Creditors: amount falling due within one year
| Corporation Tax | 0 | |
|---|---|---|
| Net Current Assets | 8,348 | |
| Net assets | 8,348 | |
| Capital & Reserves | ||
| Called up Share Capital | 10 | 0 |
| Profit and loss account | 8,348 | |
| Share Holders Fund | 8,348 |
For the year ending 31 August 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
-
(a) For the year ended 31 August 2021 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
-
(b) the members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476 Companies Act 2006, and
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(c) the directors acknowledge their responsibility for complying with the requirements of the Companies Act 2006 with respect to accounting records
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.
Approved by the Directors on ---- January 2022 and signed on their behalf
by………………………………………………..,Director. BOLANLE ABIOLA OGABI
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CHRIST MERCY GOSPEL CHURCH LTD
NOTES TO THE FINANCIAL STATEMENTS
For the period ended 31 August 2021
- 1 ACCOUNTING POLICIES
BASIS OF PREPARATION
The financial statements have been prepared under the historical cost convention and comply with financial standards of the Accounting Standards Board.
TURNOVER
The Turnover comprises the invoiced value of goods and services supplied by the company within the UK.
TANGIBLE FIXED ASSETS AND DEPRECIATION
Depreciation has been provided at the following rates in order to write off each asset over its expected useful live.
Fixtures & Fittings at 25% Reducing Balance Office Equipment at 25% Reducing Balance
Leasing and hire purchase commitments: £ nil
Deferred taxation
No deferred tax provision made during the year
2. OPERATING PROFIT
Operating profit is stated after charging: £8,348 Depreciation and other amounts written off tangible assets £nil
- DIRECTORS REMUNERATION - £ nil
Social Security
-
TAXATION UK Corporation Tax @ 20% £0
-
DIVIDENDS Dividends paid
nil
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CHRIST MERCY GOSPEL CHURCH LTD
| 6. DEBTORS | 0 |
|---|---|
| 7. CREDITORS | |
| Due within one year | |
| Corporation tax | £ 0 |
| Other | |
| 8. CALLED UP SHARE CAPITAL | |
| Authorised: | |
| 100 ordinary shares of 1.00 each | 0 |
| Issue | |
| 1 Ordinary share of 1.00each | 0 |
| 10. RECONCILLATION OF MOVEMENTS | |
| IN SHAREHOLDERS FUND | |
| Profit for the year | £2,038 |
| Share capital issued | 0 |
| Closing Shareholders fund | £8,348 |
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CHRIST MERCY GOSPEL CHURCH LTD
DETAILED TRADING AND PROFIT AND LOSS ACCOUNT FOR THE PERIOD ENDED 31 August 2021
| £ | ||
|---|---|---|
| TURNOVER | ||
| Tithe & Offering | 39,892 | |
| Gift Aid Recovery | 5,459 | |
| DWP Kickstart Grant | 4,657 | |
| 50,008 |
LESS: - OVERHEADS
| Rent | 16,756 |
|---|---|
| Telephone | 680 |
| Stationery | 550 |
| Printing | 200 |
| Bank Charges | 7.5 |
| General Expenses | 5,500 |
| Equipment | 2,350 |
| Honorarium | 3,250 |
| Salaries | 1,584 |
| Foreign Mission | 13,095 |
| Other |
800 |
| Entertainment | 1,010 |
| Professional Fees | 1,098 |
| 47,970 | |
| PROFIT FOR THE PERIOD | 2,038 |
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