| REPORT OF THE BOARD & STATEMENT OF BOARD'S RESPONSIBLITIES | 1-4 |
|---|---|
| INDEPENDENT EXAMINER'S REPORT |
|
| STATEMENT OF FINANCIAL ACTIVITIES |
|
| BALANCE SHEET | 7-8 |
| NOTES TO THE FINANCIAL STATEMENT |
9-13 |
| Unrestricted | Unrestricted | ||||
|---|---|---|---|---|---|
| Notes | Fund | Fund | |||
| 2022 | 2021 | ||||
| E | |||||
| Income from donation | and legacies: | ||||
| Donations | 97,411 | 98,837 | |||
| Income from charitable | activities: | ||||
| Rent and facility hire | 12,859 | 11,367 | |||
| Total Income | 110,270 | 110,204 | |||
| EXPENDITURE | |||||
| Charitable expenditure: |
|||||
| Grants and donation | 3 | 12,458 | 9,902 | ||
| Costs of activities for charitable | objective | 4 | 9,933 | 1,343 | |
| Support costs Management and administration |
5 6 |
36,716 29,055 |
16,819 30,348 |
||
| Total Expenditure | 88,162 | 58412 | |||
| Net Income | 22,108 | 51,792 | |||
| Opening balance | 153,898 | 102,106 | |||
| Fund balance at 31 August 2022 | 176,006 | 153,898 |
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| Notes | |||||
| Fixed assets | |||||
| Tangible fixed assets | 7 | 237,946 | 231,318 | ||
| Currenf assets | |||||
| Debtor | 8 | 13,859 | 21,919 | ||
| Cash at bank | 116,413 | 52,395 | |||
| 130,272 | 74,314 | ||||
| Creditors: amount | falling due | within one year | 62,843 | 13,935 | |
| Net current assets/(Liabilities) | 67,430 | 60,379 | |||
| Total assets less | current liabilities | 305,376 | 291,698 | ||
| Creditors: amount | falling dve | after more than one year | 10 | 129,370 | 137,800 |
| 176,006 | 153,898 | ||||
| Income Funds | |||||
| Unrestricted Funds- General |
Funds | 176,006 | 153,898 |
| For | the yeor ended 31 Aug | ust 2 | 022 | |||
|---|---|---|---|---|---|---|
| Unresiricted | Unrestdcted | |||||
| Fund | Fund | |||||
| 2022 | 2021 | |||||
| E | K | |||||
| 2 | Income from donation and legacies | |||||
| Tithe 8, Offering | 82,944 | 82,998 | ||||
| Gift Aid | 13,859 | 15,839 | ||||
| Other donations | 608 | |||||
| 97,411 | 98,837 | |||||
| 3 | Grants and Donations | |||||
| RCCG —World Evangelical Mission |
11,258 | 8,652 | ||||
| RCCG - Central Office Fund | 600 | 650 | ||||
| Other Grants 8,Donations |
600 | 600 | ||||
| 12,458 | 9,902 | |||||
| 4 | Cost ofActiviiiies for Charitable | Objective | ||||
| Welfare/hardship Grant |
500 | 1,185 | ||||
| Outreach, Conferences | 8, Events | 9,433 | 158 | |||
| 9,933 | 1,343 | |||||
| 5. | Support Cost | |||||
| Rent 8, Rate | 12,503 | 1,310 | ||||
| Stationery 8,Pdnting |
239 | 68 | ||||
| Telephone, Internet |
8, ITCosts | 995 | 1,251 | |||
| Transporlation 8, Logistics Costs |
1,653 | 1,657 | ||||
| Insurance | 1,269 | 69 | ||||
| Premises Expenses | 431 | |||||
| Bank Interest 8,Charges | 3,581 | 3,621 | ||||
| Depreciation | 11,624 | 7,874 | ||||
| Sundry Expenses | 4,421 | 969 | ||||
| 36,716 | 16,819 |
| 2022 | 2021 | |||||
|---|---|---|---|---|---|---|
| K | ||||||
| 6. | Management | and | Administration | |||
| Accountancy | 8, Payroll fees | 1,800 | 1,500 | |||
| Staff/Volunteer | Costs | 24,000 | 24,007 | |||
| Legal, Consultancy | 8, Professional | fees | 2,935 | 2,576 | ||
| Training 8,Seminar |
cost | 320 | 2,266 | |||
| 29,055 | 30,348 |
| Tangible fixe | d assets | ||||
|---|---|---|---|---|---|
| Freehold | Church | Fixtures 8, | |||
| Properties | Equipment | Fittings | Total | ||
| E | E | E | |||
| Cost | |||||
| At 01/09/21 | 234,113 | 24,849 | 6,201 | 265,163 | |
| Additions | 3,250 | 15,003 | 18,253 | ||
| Disposal | |||||
| At 31/08/22 | 237,363 | 39,852 | 6,201 | 283,416 | |
| Accumulated | Depreciation | ||||
| At 01/09/21 | 14,359 | 13,285 | 6,201 | 33,845 | |
| Depreciation | for the year | 7,492 | 4,133 | 11,625 | |
| Disposal | |||||
| At 31/08/22 | 21,851 | 17,418 | 6,201 | 45,470 | |
| Net Bookvalue | |||||
| At 31/08/22 | 215,512 | 22,434 | 237,946 | ||
| At 31/08/21 | 219,754 | 11,564 | 231,318 |
| 2022 | 2021 | ||
|---|---|---|---|
| E | |||
| 8. Debtors | |||
| Accrued Income- | Gift Aid | 13,859 | 12,892 |
| Other Debtors | 3,957 | ||
| Prepayment-Rent | 5,070 | ||
| 13,859 | 21,919 | ||
| 9. Creditors: amount | falling due within one year | ||
| Bank Loan | 6,240 | 6,240 | |
| Accruals and Deferred Income | 56,386 | 7,695 | |
| Other Creditors | 217 | ||
| 62,843 | 13,935 | ||
| 10.Creditors: amount | falling due after one year | ||
| Bank Loan | 129,370 | 137,800 | |
| 129,370 | 137,800 | ||
| 11.Movement in funds |
|||
| Opening balance | 153,898 | 102,106 | |
| Surplus for the year | 22,108 | 51,792 | |
| Balance as at 31 Augusf 2022 | 176,006 | 153,898 |
| 2022 | 2021 | ||
|---|---|---|---|
| Salary | paid to related party. | E | |
| Pastor | Olajide Joseph Omotayo | 24,000 | 24,000 |