## **TRECC MINISTRIES INTERNATIONAL**
**REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2022**
**CHARITY NO: 1183169**
## **TRECC MINISTRIES INTERNATIONAL**
## **Financial Statements for the Year Ended 31 January 2022**
|**Contents**|**Page**|
|---|---|
|Legal and Adminstrative Information|1|
|Report of the Trustees|2|
|Independent Examiner's Reprot|4|
|Statement of Financial Activities|5|
|Balance Sheet|6|
|Notes forming part of the financial statements|7|
**TRECC MINISTRIES INTERNATIONAL Financial Statements for the Year Ended 31 January 2022**
## **REFRENCE AND ADMINISTRATIVE DETAILS**
|**Charity Name:**|Trecc Ministries International|
|---|---|
|**Charity Registration Number:**|1183169|
|**Registered Office and**||
|**Operational Address:**|12 Thorold Road|
||Chatham|
||ME5 7EA|
|**Trustees:**|Bukola Hensan|
||Stella Alli|
||Adeyemi Oke|
||John Fatungase|
|**Accountants:**|Wisdom Consult Limited|
||(Incorporated Financial Accountants)|
||147 New Road|
||Chatham|
||ME4 4PT|
|**Bankers:**|CashPlus Online|
||17-19 Military Road|
||Chatham|
**Page 1**
## **TRECC MINISTRIES INTERNATIONAL Financial Statements for the Year Ended 31 January 2022**
## **REPORT OF THE TRUSTEES**
The Trustees hereby present its annual report, for the purpose of Charities Act 2011, together with the Accounts for the period ended 31 Janaury 2022. The Trustees have adopted the provisions of the Statement of Recommended practice “Accounting and Reporting by Charities” issued in March 2005 in preparing the annual reports and financial statements of the charity.
## **STRUCTURE GOVERNANCE AND MANAGEMENT**
Trecc Ministries International is a Charity Incorporated Organisation (CIO), registered with Charity Commission.
It is governed by its Trust Deeds and is managed by a board of Trustees.
Decisions are determined by simple majority vote by the Trustees who set the strategic direction of the charity. Delegated authority has been given to the Pastoral Board and Management team for the day to day running of the operation of the charity.
Trustees are selected on the basis of the contribution that they will make towards the governance of the charity and the skills that they will contribute.
## **OBJECTIVES AND ACTIVITIES**
The Charity’s objects are:
- a. To advance the Christian faith worldwide
- b. The relief of poverty
## **STRATEGIES**
The Charity’s strategies for achieving these objectives were through key activities of providing a place of worship, Church, located at Chatham, Community projects and welfare activities like, breakfast mornings, Christian counselling and educational activities.
## **ACHIEVEMENTS AND PERFORMANE OF THE PUBLIC BENEFIT**
Several volunteers supported the work of the charity and make invaluable contributions during the year through various departments: Prayer group, men department, women department, children church, youth church, drama group, evangelism group, counselling department, the music and choir department, media team, and community outreach group the following activities were carried out for public benefits.
- Through the Shiloh Programme, held throughout the year, many converts are won for Christ
- Prayer retreats were held by the women department
- Church services were held regularly in the week on Sundays, Bible study and prayer meetings on
- weekdays.
- Men held various fellowships
- The children and youth church continued to grow and expand with various indoor and outdoor
- programmes organised to engage the young people.
- The Choir and instrumentalist continue to provide music and concerts
- The evangelism and community outreach group were regularly in the public domain, engaging
- members of the community and educating them on the Christian faith.
## **RISK MANAGEMENT**
The Trustees have conducted a review of the major risk which the charity is exposed. A risk register is established which identifies the major risks by type of activity, the nature of those risks, the likelihood of the risks occurring and the measure taken to manage them. The Trustees review the risk register from time to time during their meetings and are satisfied that systems are in place to manage identified risks. In particular, insurance cover is in place. Appropriate Disclosure and Barring Checks (DBS) supported by regularly reviewed policies are in place for those who work with children and vulnerable adults. Internal control risk are minimised by procedure which are in place to ensure authorisation of all transactions and projects. Procedures are in place to ensure the Health and Safety of staff, volunteers, and visitors to the charity.
**Page 2**
## **TRECC MINISTRIES INTERNATIONAL Financial Statements for the Year Ended 31 January 2022**
## **REPORT OF THE TRUSTEES**
## **FINANCIAL REVIEW**
At the end of 31 Janaury 2022, total incoming resources was £18,263 (unrestricted fund) and the total outgoings was £18,950 leaving a deficit of £687. The Trustees consider the need for the charity to hold reserve (unrestricted fund, and not represented by fixed asset) equivalent to one month expenditure in order to ensure the ongoing delivery of its charitable objects during time of unforeseen down turn in income. The Trustees acknowledge that in the year under review the charity was able to meet this need and that the charity should aim to improve and look at other sources to generate income to continue to meet its need.
## **PLANS FOR FUTURE PERIOD**
The Charity continues to explore ways of furthering its charitable objects in an effective manner by ensuring there is awareness of its services and proactively seeking opportunities to be more involved in the community. That the charity endeavour to provide services that meet the needs of the public and contribute positively in the moral and spiritual climate of our community which reflects its Christian ethos and belief.
## **TRUSTEES’ RESPONSIBILITIES STATEMENT**
The Trustees are responsible for preparing the Trustees Report and the Financial Statements in accordance with appropriate accounting standards. (United Kingdom Generally Accepted Accounting Practice).
Charity law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity as at the balance sheet date and of its incoming resources and applications of resources for the financial year. In preparing those financial statements the Trustees should follow best practice and:
- 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
- Prepare the financial statements on the ongoing basis unless it is inappropriate to presume that
- the charity will continue on that basis.
The Trustees are responsible for keeping adequate 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 statement comply with 2011 Charity Act. They 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
## **MEMBERS OF THE BOARD OF TRUSTEES**
Members of the Board of Trustees who served during the year and up to the date of this report, are set out on page 1.
In accordance with charity law, as trustees, we certify that:
So far as we are aware, there is no relevant information of which the charity's accountants are unaware; and as the trustees of the charity we have taken all steps that we ought to have taken in order to make ourselves aware of any relevant information and to establish that the Charity's accountants are aware of that information.
## **Approval**
This report was approved by the board of Trustees and signed on their behalf by:
Bukola Hensan Trustee 15th May 2022
**Page 3**
## **TRECC MINISTRIES INTERNATIONAL Financial Statements for the Year Ended 31 January 2022**
## **INDEPENDENT EXAMINERS REPORT**
Independent Examiner's Report to the Trustees of Trecc Ministries International.
I report on the accounts of the above Charity for the year ended 31 January 2022 set out on pages 5 to11.
## **Respective responsibilities of trustees and independent examiner**
The Trustees are responsible for the preparation of the accounts. The charity's 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.
It is my responsibility to:
- examine the accounts under section 145 of the 2011 Act
- to follow the procedures laid down in the general Direction given by the Charity commission
- (under section 145(5)(b) of the 2011 Act, and
- to state whether particular matters have come to my attention.
## **Basis of independent examiner's statement**
My examination was carried out in accordance with 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 the 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
- To keep accounting records in accordance with section 130 of the 2011 Act; and
- To prepare accounts which accord with the accounting records and to comply with the accounting requirements of the 2011 Act have not been met; or
2. To which in our opinion, attention should be drawn in order to enable a proper understanding of
the accounts to be reached.
15th May 2022
P. Ogunlade FFA, FIPA Wisdom Consult Limited (Incorporated Financial Accountants) 147 New Road
Chatham ME4 4PT
**Page 4**
## **TRECC MINISTRIES INTERNATIONAL Financial Statements for the Year Ended 31 January 2022**
## **STATEMENT OF FINANCIAL ACTIVITIES**
|**Notes**
**Incoming resources**
**Incoming resources from generated funds:**
_Voluntary Income:_
Donations and Offerings
2
Activities for generating funds:
Investment income
**Total incoming resources**
**Resources expended**
**_Cost of generating funds_**
Costs of generating voluntary income
3
Charity activities
4
Governance and other cost
5
**Total resources expended**
**Net income / expenditure before other**
6
**recognised gains or (losses)**
Other recorgnised gains or (losses)
**Net movement in funds**
**Reconciliation of Funds**
**Transfer between funds**
Total funds brought forward
14
**Total funds carried forward**
14|**2022**
**2021**
Unrestricted
Restricted
Total
Total
Funds
Funds
Funds
Funds
**£**
**£**
**£**
£
18,263
-
18,263
14,102
-
-
-
-|
|---|---|
||**18,263**
**-**
**18,263**
**14,102**|
||14,615
-
14,615
15,154
3,991
-
3,991
2,113
344
-
344
316
-|
||**18,950**
**-**
**18,950**
**17,583**|
||687
-
-
687
-
3,481
-
-
-
-
-|
||**687**
**-**
**-**
**687**
**-**
**-**
8,462
-
-
8,462
-
8,462
-|
||**9,149**
**-**
**-**
**9,149**
**-**
**8,462**
**-**|
The statement of financial activities includes all gains and losses in the year. All incoming resources and resources expended derive from continuing activities.
The notes on Pages 7 to 11 form part of these Accounts.
**Page 5**
## **TRECC MINISTRIES INTERNATIONAL Financial Statements for the Year Ended 31 January 2022**
## **BALANCE SHEET AS AT 31 JANUARY 2022**
|**Notes**
**Fixed assets**
Tangible assets
**9**
**Currents assets**
Cash at bank and in hand
**10**
Debtors
**11**
Creditors:
Amounts falling due within one year
**12**
**Net Current Assets**
Creditors:
Amount falling due after one year
**13**
**Net Assets**
**Funded by:**
General funds
**14**
**Total funds**|**Unrestricted Restricted**
**2022**
**2021**
**£**
**£**
**£**
**£**
-
-
-
1,568
-
1,568
1,980
-
-
-
-|
|---|---|
||1,568
-
1,568
1,980
10,717
-
10,717
10,442|
||9,149
-
-
9,149
-
8,462
-
-
-
-
-|
||**9,149**
**-**
**-**
**9,149**
**-**
**8,462**
**-**|
||9,149
-
-
9,149
-
8,462
-|
||**9,149**
**-**
**-**
**9,149**
**-**
**8,462**
**-**|
We approve the Financial Information which comprises the Statement of Financial Activities, the Balance Sheet and the related Notes.
We acknowledge our responsibility for the Financial Information including the appropriation of the applicable Financial Reporting framework as set out in the Notes.
Bukola Hensan Trustee
15th May 2022 Date of Approval
**Page 6**
**TRECC MINISTRIES INTERNATIONAL Financial Statements for the Year Ended 31 January 2022**
## **NOTES FORMING PART OF THE FINANCIAL STATEMENTS**
## **1. Accounting Policies**
The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and in the preceding year.
## **(a) Basis of Accounting**
The financial statements have been prepared under the historical cost convention, and in accordance with the Financial reporting standard for smaller entities, the charity Act 2011 and the requirement of the Statement of Recommended Practice, Accounting and reporting by Charities
## **(b) Fund Accounting**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. Unrestricted funds may include a revaluation reserve representing the restatement of investment assets at market values where applicable. Designated funds are unrestricted funds earmarked by the Trustees for particular purposes. Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of an appeal.
## **(c ) 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 grants, donations and gifts and is included in full in the Statement of Financial Activities when receiveable. Grants, where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant.
Donated services and facilities are included at the value to the charity where this can be quantified The value of services provided by volunteers has not been included in these accounts.
Invested income is included when receivable.
Incoming resources from charitable trading activity are accounted for when earned.
Incoming resources from grants, where related to performance and specific deliverables, are accounted for as the charity earns the right to consideration by its performance.
## **(d) Resources expended**
Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates:
Costs of generating funds comprise the costs associated with attracting voluntary income and the costs of trading for fundraising purposes.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the accountancy fees and costs linked to the strategic management of the charity.
All costs are allocated between the expenditure categories of the SoFA on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, others are apportioned on an appropriate basis e.g. floor areas, per capita or estmated usage.
**Page 7**
**TRECC MINISTRIES INTERNATIONAL Financial Statements for the Year Ended 31 January 2022**
## **NOTES FORMING PART OF THE FINANCIAL STATEMENTS**
## **e. Tangible Fixed Assets and Depreciation**
Fixed assets (excluding investments) are stated at cost less accumulated depreciation. The costs of minor additions or those costing below £500 are not capitalised.
## **Depreciation**
Depreciation is provided at rates calculated to write off the cost of each asset, less their estimated residual value over its expected useful life.
Land and Building 2% on cost Musical Equipment 20% on cost
Investments held as fixed assets are revalued at mid market value at the blance sheet date and the gain or loss taken to the Statement of Financial Activities.
|**2. Voluntary Income**
Tithes & Offering
Special Offering
Thanks Giving
Gift Aid
Investment
Other income
**Resources Expended**
**3. Cost of generating voluntary income**
Venue Hire
Utilities
Printing and Stationery
Internet
Telephone
Equipment Expensed
Insurance
Repairs and Maintenance
Sundry
Office & Administration
**4. Charitable Activities**
World Evangelical Mission
Gifts and Donation
Welfare & Hospitality
Training and Books
Honorarium
Travel and Subsistence
Office of the Pastor
Conference and Events
Ministry Expenses
Ministers allowances
Music & Media
Feeding the Needy Project|**Unrestricted**
**Restricted**
**2022**
**2021**
**Total**
Total
**£**
**£**
**£**
**£**
14,124
-
14,124
13,148
-
-
-
-
3,961
-
3,961
954
-
-
-
-
-
-
-
-
178
-
178|
|---|---|
||**18,263**
**-**
**18,263**
**14,102**|
||**Unrestricted**
**Restricted**
**2022**
**2021**
**£**
**£**
**£**
**£**
8,473
-
8,473
7,000
2,130
-
2,130
1,683
336
-
336
421
-
-
-
-
134
-
134
430
2,427
-
2,427
5,279
1
-
-
1
-
127
1,114
-
1,114
214
-
-
-
-
-
-
-
-|
||**14,614**
**-**
**14,614**
**15,154**|
||**Unrestricted Restricted**
**2022**
**2021**
**£**
**£**
**£**
**£**
-
-
-
154
100
-
100
-
1,735
-
1,735
1,217
460
-
460
69
150
-
150
-
793
-
793
143
-
-
-
200
-
-
-
-
-
-
-
-
755
-
755
330
-
-
-
-
-
-
-
-|
||**3,991**
**-**
**3,991**
**2,113**|
**Page 8**
**TRECC MINISTRIES INTERNATIONAL Financial Statements for the Year Ended 31 January 2022**
## **NOTES FORMING PART OF THE FINANCIAL STATEMENTS**
## **5. Governance Cost:**
|**Unrestricted Restricted**
**Professional Cost**
**£**
**£**
Accountancy
275
-
Legal and professional fees
-
-
**275**
**-**
**Unrestricted Restricted**
**Support Cost**
Depreciation - Building
-
-
Depreciation - Equipment
-
-
**-**
**-**
**Finance cost**
Loan interest
-
-
Bank Charges
69
-
**69**
**-**
**Total Resources expended**
**18,949**
**-**
**6. Net Incoming Resources for the Year**
This is stated after charging:
Depreciation
Accountant's Remuneration
**7. Staff Costs**
Management Committee did not receive remuneration
Salaries and Wages paid to employees
The average number of employees|**Unrestricted Restricted**
**£**
**£**
275
-
-
-|**2022**
**2021**
**£**
**£**
**275**
**255**
**-**
**61**|
|---|---|---|
||**275**
**-**|**275**
**316**|
||**Unrestricted Restricted**
-
-
-
-|**2022**
**2021**
-
-
-
-|
||**-**
**-**|**-**
**-**|
||-
-
69
-|-
-
69
-|
||**69**
**-**|**69**
**-**|
||||
||**18,949**
**-**|**18,949**
**17,583**|
|||**2022**
**2021**
**£**
**£**
-
-
275
255|
|||**2022**
**2021**
-
-
-
-|
## **8. Taxation**
As a charity, Trecc Ministries International, is exempt from tax on income and gains falling within Section 505 of the Taxes Act 1988 or s256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have risen in the Charity.
**Page 9**
**TRECC MINISTRIES INTERNATIONAL Financial Statements for the Year Ended 31 January 2022**
## **NOTES FORMING PART OF THE FINANCIAL STATEMENTS**
## **9. Tangible Fixed Assets**
|**COST**
At 1 February 2021
Additions in period
At 31 January 2022
**DEPRECIATION**
At 1 February 2021
Charge in period
At 31 January 2022
**NET BOOK VALUE**
At 31 January 2022
NET BOOK VALUE
At 31 January 2021
**10. Cash at Bank and at hand**
Cash at bank
**11. Debtors: Amounts falling due within one year**
Debtors|**Land &**
**Musical**
**Total**
**Buildings**
**Equipment**
**£**
**£**
**£**
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
**-**
**-**
**-**
**-**
**-**
**-**
**2022**
**2021**
**£**
**£**
**£**
£
1,568
-
1,568
1,693|**Land &**
**Musical**
**Total**
**Buildings**
**Equipment**
**£**
**£**
**£**
-
-
-
-
-
-|
|---|---|---|
|||-
-
-|
|||-
-
-
-
-
-|
|||-
-
-|
|||**-**
**-**
**-**|
|||**-**
**-**
**-**|
||**1,568**
**-**
**1,568**
**1,693**||
||**2022**
**2021**
**£**
**£**
**£**
**£**
-
-
-
-||
||**-**
**-**
**-**
**-**||
**Page 10**
## **TRECC MINISTRIES INTERNATIONAL Financial Statements for the Year Ended 31 January 2022**
## **NOTES FORMING PART OF THE FINANCIAL STATEMENTS**
## **12. Creditors: Amounts falling due within one year**
|Accruals
Other Creditors
**13. Creditors: Amount falling due after one year**
Bank Loan|**2022**
**2021**
**£**
**£**
275
255
10,442
10,187|
|---|---|
||**10,717**
**10,442**|
||**2022**
**2021**
**£**
**£**
**-**
**-**|
|**14. Movements in Funds**
**Unrestricted Funds:**
General Funds
**Restricted Fund:**
**Total Funds**|**At 1st**
**At 31**
**February Movement**
**Transfers**
**January**
**2021**
**in Fund**
**2022**
**£**
**£**
**£**
**£**
8,462
-
687
-
-
9,149
-
-
-
-
-|
|---|---|
||**8,462**
**-**
**687**
**-**
**-**
**9,149**
**-**|
## **15. Trustees Remuneration and Benefits**
There were no trustees' remuneration or other benefits for the year ended 31 January 2022. **Trustees' Expenses**
There were no trustees' expenses paid neither for the year ended 31 January 2022.
**Page 11**