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|---|---|---|---|---|
|Legal and administrative||information|||
|Report ofthe Trustees||||2-5|
|Independent
Examiners||Report||6-7|
|Statement offinancial||activities|||
|Balance sheet|||||
|Notes to the financial|statements|||10-13|
|Detailed Income and|expenditure||accounts|14-15|
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|Trustees:|Micheal Olaniyi Olaleye|
|---|---|
||Ezekiel Olutayo Ojo|
||Lawrence Omotoso Farounmbi|
||Julie Soyinka-Sonuga|
|Registered office:|101Hedge Place|
||Greenhithe|
||Kent|
||DA9 9JY|
|Charity number:|1176316|
|Accountants:|Jash Burton B'Chaucer|
||Coleridge Road|
||Croydon|
||Surrey|
||CRO 7BQ|
|Bankers:|Barclays bank Plc|
||Natwest bank Plc|
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||||Unrestricted|Restricted|2020|2019|
|---|---|---|---|---|---|---|
||||funds|funds|Total|Total|
|||Notes|||||
|INCOMING RESOURCES|||||||
|Donations,
tithes and offerings|||836,964||836,964|186,132|
|Other incomin
resources|||||||
|Gift aid receivable||||||3,150|
|Sundry income|||1,000||1,000|1,595|
|Bank interest received|||212||212|201|
|Total incoming resources|||838,176||838,176|191,078|
|RESOURCES EXPENDED|||||||
|(Costs ofactivities infurtherance|ofthe||||||
|objects ofthe charity)|||||||
|Direct Charitable
activities|||160,971||160,971|135,863|
|Management
and Support activities|||65,030||65,030|28,214|
|Governance
costs|||10,499||10,499|1,175|
|Finance costs|||1,855||1,855|487|
|Total resources expended|||238,355||238,355|165,739|
|Net movement
in funds for the|period||599,820||599,820|25,339|
|Total funds brought forward|||144,825||144,825|119,486|
|Total Funds as at31December|2019||744,645||744,645|144,825|
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|||~erestrietett|Rest~rt||Stl|2020|$019|
|---|---|---|---|---|---|---|---|
||Notes|||||||
|FIXEDASSETS||||||||
|Tangible assets||1,399,649||||1,399,649|22,537|
|Current assets||||||||
|Debtors and prepayments||134,194||||134,194|57,982|
|Cash at bank and in hand||25,302||||25,302|67,756|
|||159,497||||159,497|125475S|
|Creditors: amounts|falling due|||||||
|within|one year|(2,N)0)||||(2,000)|(3.450)|
|Net current assets||157,497||||157,497|122,288|
|Total assets less current liabilities||14$7,14$||||||
|Creditors: amounts|falling due after|||||||
|more than one year||(812,500)||||(812,500)||
|Net assets||744,645||-||744,645|144.025|
|Financed by:||||||||
|Funds||744,645||||744,645|144,82S|
|||744,645||||744,64S|144,825|
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|Cost/valuation|2%|cost/valuation|
|---|---|---|
|Plant and machinery|25%|reducing
balance|
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|Total staff costs during the period|were:|||
|---|---|---|---|
|||2020|2019|
|Salaries and Wages||42,171|25,000|
|No employee received remuneration|ofmore than f60,000.|||
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||2020|2019|
|---|---|---|
|Tithes and Offerings|202,744|170,667|
|Donations|634,220|15,465|
|Gift Aid||3,150|
|Other Income|1,000|1,595|
||837,964|190,877|
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||||||||2020|2019|
|---|---|---|---|---|---|---|---|---|
|Accountancy|fees||||||2,000|1,150|
|Legal and professional|||||||8,499|25|
||||||||10,499|1,175|
|Finance costs|||||||||
||||||||2020|2019|
|Bank charges|||||||25|487|
|Mortgage interest|||||||1,830||
||||||||1,855|487|
|Tangible fixed assets|||||||||
|All assets are|heldfor|charitable purposes|||||||
|||Land tb|~Cam|utertt|Furniture|ttt|2020|2019|
|||~buttdtn|~eui|ment|||Total|Total|
|Cost|||||||||
|Balances b/f||||50,250|44,912||95,162|84,162|
|Additions||1,410,000||1,261|||1,411,261|11,000|
|Balances c/f||1,410,000||51,511|44,912||1,506,423|95,162|
|Accumulated|||||||||
|de reciation|||||||||
|Balance b/f||||39,120|33,505||72,625|65,112|
|Charge for the year||28,200||3,098|2,852||34,150|7,513|
|Balances c/f||28,200||42,218|36,357||106,774|72,625|
|Net book value|||||||||
|At 31/12/2020||1,381,800||9,293|8,555||1,399,649|22,537|
|Debtors|||||||||
||||||||2020|2019|
||||||||g||
|Other Debtors|||||||134,194|57,982|
||||||||134,194|57,982|
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|||Balances at|Movement|in Resources|Balances at|
|---|---|---|---|---|---|
|||01/01/2020|~lncomin|~Out oin|31/12/2020|
|Unrestricted|funds|144,825|838,176|(238,355)|744,645|
|Restricted funds||||||
|||144,825|838,176|(238,355)|744,645|
|||||2020|2019|
|Represented|by:|||||
|Fixed Assets||||1,399,649|22,537|
|Current Assets||||159,497|125,738|
|Liabilities||||(814,500)|(3,450)|
|||||744,645|144,825|
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||||||2020|||2019|
|---|---|---|---|---|---|---|---|---|
|INCOME|||||||||
|Donations,
tithes and||offerings:|||||||
||- Unrestricted|||||836,964|||
|Other income|||||||||
|Interest receivable||||212|||201||
|Gift aid|||||||3,150||
|Sundry income||||1,000|||1,595||
|||||||1,212|||
|||||||838,176|||
|EXPENDITURE|||||||||
|Direct Charitable|Costs:||||||||
|Salaries and wages||||29,520|||17,500||
|Rent and rates||||26,614|||33,533||
|Honorarium||||11,798|||7,280||
|Travel and transportation||||1,350|||5,761||
|Evangelism/outreach||work||560|||4,870||
|Welfare support||||8,049|||644||
|T181rllng||||829|||345||
|Conferences
and Meetings||||36,769|||34,694||
|Missions||||4,028|||29,487||
|Publicity||||155|||250||
|Musician expenses||||13,800|||||
|Gifts and Donations||||27,500|||1,500||
|||||160,971|||135,863||
|Management
&Support|||||||||
|Salaries and wages||||12,651|||7,500||
|Rent and rates||||4,697|||5,918||
|Insurance||||974|||1,510||
|Light and Heat||||570|||1,100||
|Telephone||||1,540|||1,680||
|Postage and Stationery||||1,112|||855||
|Computer
and internet||expenses||677|||453||
|Subscriptions||||503|||720||
|General administration||expenses||606|||||
|Repairs and Renewals||||7,550|||966||
|Depreciation - Land and|||building|28,200|||||
|Depreciation - Equipment||||3,098|||3,710||
|Depreciation
-Furniture|||and fixtures|2,852|||3,802||
|||||65,030|||28,214||
|Balances carried forward||||226,001||838,176|164,077||
##
||||2020|||2019||
|---|---|---|---|---|---|---|---|
|Balances brought forward||226,001||838,176|164,077||191,078|
|Governance|costs:|||||||
|Legal &Professional||8,499|||25|||
|Accountancy|fees|2,000|||1,150|||
|||10,499|||1,175|||
|Finance Costs:||||||||
|Bank charges||25|||487|||
|Mortgage interests||1,830||||||
|||1,855|||487|||
|||||238,355|||165,739|
|Surplus for|the year|||599,820|||25,339|
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|||Unrestricted|Restricted|2020|2019|
|---|---|---|---|---|---|
||Notes|||||
|FIXEDASSETS||||||
|Tangible assets||1,399,649||1,399,649|22,537|
|Current assets||||||
|Debtors and prepayments||134,194||134,194|57,982|
|Cash at bank and in hand||25,302||25,302|67,756|
|||159,497||159,497|125,738|
|Creditors: amounts|falling due|||||
|within|one year|(2,000)||(2,000)|(3,450)|
|Net current assets||157,497||157,497|122,288|
|Total assets less current liabilities||1,557,145||1,557,145|144,825|
|Creditors: amounts|falling due after|||||
|more than one year||(812,500)||(812,500)||
|Net assets||744,645||744,645|144,825|
|Financed by:||||||
|Funds||744,645||744,645|144,825|
|Total funds||744,645||744,645|144,825|
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