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2021-04-01-accounts

SISTER TO SISTER MINISTRIES UK

Charity No. 1180366

Trustees' Report and Unaudited Accounts

01 April 2021

SISTER TO SISTER MINISTRIES UK Contents

Pages
Trustees' Annual Report 2 - 3
Statement of Financial Activities 4
Balance Sheet 5
Notes to the Accounts 6 to 10

Page 1

SISTER TO SISTER MINISTRY UK Trustees Annual Report

The Trustees present their report with the unaudited financial statements of the charity for the year ended 01 April 2021.

REFERENCE AND ADMINISTRATIVE DETAILS

Charity No. 1180366

Principal Office

18 Cavour House, Alberta Estate, London SE17 3QD

Trustees

The following Trustees served during the year:

Toke Okuyedi Adeola Oyemade Titilayo Babatunde Joko Shonibare (USA) Sade Cole Fakunle (USA)

OBJECTIVES AND ACTIVITIES

Page 2

SISTER TO SISTER MINISTRY UK Trustees Annual Report

ACHIEVEMENTS AND PERFORMANCE

• We provided educational supplies, stationery laptop to students where families could not provide for their children.

• We reached out to teenagers, youth and young adults during the lock down offering listening ears and counselling to bring stability .

Statement of trustees' responsibilities in relation to the financial statements

The charity trustees are responsible for preparing a trustees' annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.

Signed on behalf of the charity's trustees

Adeola Oyemade Trustee 31 May 2021

Page 3

SISTER TO SISTER MINISTRY UK Statement of Financial Activities

for the year ended 01 April 2021

Notes
Income and endowments
from:
Donations and legacies
3
Total
Expenditure on:
Charitable activities
4
Other
5
Total
Net gains on investments
Net Deficit
6
Transfers between funds
Net income before other
gains/(losses)
Other gains and losses
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 Unrestricted
funds
2021
£
10		 Restricted
funds
2021
£
-		 Total funds
2021
£
10		 Total funds
2020
£
2,150
10
0
-		 -
-
-		 10
0
-		 2,150
4,378
-
10
-		 -
-		 10
-		 4,378
-
10
-		 -
-		 10
-		 (2,228)
-
10 - 10 (2,228)
10
(2,228)		 -

-		 10
(2,228)		 (2,228)
-
(2,218) (2,228)

Page 4

SISTER TO SISTER MINISTRY UK Balance Sheet

at 01 April 2021

Charity No. 1180366
Fixed assets
Tangible assets
8
Current assets
Cash at bank and in hand
Creditors:Amount falling due within one year
9
Net current Liability
Creditors:Amount falling due after more than one year
Total net assets
The funds of the charity
Restricted funds
Restricted income funds
10
Unrestricted funds
General funds
Total Charity funds
 2021
£
-
-
-
-
(2,218)
(2,218)
-
(2,218)
-
(2,218)
(2,218)		 2020
£
-
-
-
-
(2,228)
(2,228)
-
(2,228)
-
(2,228)
(2,228)

Approved by the trustees on 31 May 2021

And signed on their behalf by:

Adeola Oyemade Trustee 31 May 2021

Page 5

SISTER TO SISTER MINISTRY UK Notes to the Accounts

for the year ended 01 April 2021

Basis of preparation

The financial statements have been prepared in accordance with Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.

Change in basis of accounting or to previous accounts

There has been no change to the accounting policies (valuation rules and method of accounting)

Fund accounting

Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity. Restricted funds Not Applicable Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds Not Applicable Income Recognition of income Income is included in the Statement of Financial Activities (SoFA) when the charity becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability. Income with related Where income has related expenditure, the income and related expenditure expenditure are reported gross in the SoFA. Donations and legacies Voluntary income received by way of donations and gifts are included in the SoFA when receivable and only when the Charity has unconditional entitlement to the income. Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services and These are only included in income (with an equivalent amount in facilities expenditure) where the benefit to the Charity is reasonably quantifiable, measurable and material. Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to revaluation of fixed market value at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets

Page 6

SISTER TO SISTER MINISTRY UK Notes to the Accounts

Expenditure

Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any expenditure VAT which cannot be fully recovered and is reported as part of the expenditure to which it relates.

Expenditure on raising These comprise the costs associated with attracting voluntary income, funds fundraising trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its charitable activities activities and services in the furtherance of its objects, including the making of grants and governance costs.

Grants payable Not Appliable Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.

Other expenditure These are support costs not allocated to a particular activity.

Taxation

The charity is exempt from tax on its charitable activities.

Tangible fixed assets and depreciation – Not Applicable

Freehold investment property

Not Applicable

Stocks

Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.

Trade and other debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.

Page 7

SISTER TO SISTER MINISTRY UK Notes to the Accounts

Trade and other creditors

Short term creditors are measured at the transaction price. Other creditors and provisions are

recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period. Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred.

All exchange rate differences are taken into account in arriving at net income/expenditure.

Receipt of donated goods, facilities and services

All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.

  1. The Trustees have assurances that more income is expected in coming years to cover the current deficit on charitable funds and to meet its charitable expenditures.

Page 8

SISTER TO SISTER MINISTRY UK Notes to the Accounts

3 Income from donations and legacies

3
Income from donations and legacies
Tithes
Offerings
Donations to the Ministry
Retreat Funds
4
Expenditure on charitable activities
Expenditure on charitable
activities
Outreaches
Governance costs		 Unrestricted
£
-
-
10
-
10
Unrestricted
£
0
-
0		 Restricted
£
-
-
-
-
-
Restricted
£
-
-
-		 Total
2021
£
-
-
10
-
10
Total
2021
£
0
-
0		 Total
2020
£
-
-
2,150
-
2,150
Total
2020
£
4,378
-
4,378

Page 9

SISTER TO SISTER MINISTRY UK Notes to the Accounts

5
Other expenditure
Employee costs
Motor and travel costs
Premises costs
Amortisation, depreciation,
impairment, profit/loss on
disposal of fixed assets
General administrative costs
Legal and professional costs
6
Net income before transfers
This is stated after charging:
Depreciation of owned fixed assets
7
Staff costs		 Unrestricted
£
-
-
-
-
-
-
-
2021
£
-		 Total
2021
£
-
-
-
-
-
-
-		 Total
2020
£
-
-
-
-
-
-
-
2020
£
-

No employee received emoluments in excess of £60,000.

Page 10