TRANSFORMATION HOUSE CHURCH Report and Accounts Year ended 31 January 2022
3 Worcester Avenue, Old Swan, LIVERPOOL L13 9AZ t: 01513647913 e: aamatthew@aol.com
| Contents | Page |
|---|---|
| Company Information | 1 |
| Trustees' Annual Report | 2-7 |
| Independent Examiner's Report | 8 |
| Statement of Financial Activities | 9 |
| Balance Sheet | 10 |
| Cash Flow Statement | 11 |
| Notes to the Accounts | 12-17 |
| The following page does not form part of the Statutory Accounts | |
| Detailed Statement of Financial Activities with Comparatives | 18 |
Transformation House Church Trustees' Annual Report for the Year Ended 31 January 2022
Company Information
Charity Name:
Charity Name: Transformation House Church Directors/Trustees: Mr Gavin William Anderson Mr Mark George Neale Mr Bankole Alexander Olagbaiye
Governing Document: Memorandum and Articles of Association dated 8 July, 2020 Charity Commission No: 1190318 Company Registration No 12391353 Registered Office and 21 Avian Avenue Operational Address: St Albans England AL2 2FE Accountants: AA Matthew & Co Newspring House 3, Worcester Avenue Old Swan Liverpool L13 9AZ Bankers: Lloyds Bank Plc 25 Gresham Street London EC2V 7HN
Page 1
Transformation House Church Trustees' Annual Report for the Year Ended 31 January 2022
Objects of the charity
Our Charity's purposes as set out in the objects contained in the company's memorandum of association are :
a. To advance the Christian faith in accordance with our Statement of Beliefs in the County of Hertfordshire and in such other parts of the United Kingdom or the world as the directors of the Charity (herein called ''the trustees'') may from time to time think fit.
b. To relieve persons who are in conditions of need or hardship or who are aged or sick and to relieve the distress caused thereby in the said County and in such other parts of the United Kingdom or the world as the trustees may from time to think fit.
c. To advance education in accordance with Christian principles by such means as the trustees may consider appropriate including by means of establishing and operating any educational establishments in the said County and in such other parts of the United Kingdom or the world as the trustees may from time to time think fit.
d. To promote and fulfil such other charitable purposes beneficial to the community in the said County and in such other parts of the United Kingdom or the world as the trustees may from time to time think fit.
Ensuring Our Work Delivers Our Aims
We review our aims, objectives and activities each year. This review looks at what we achieved and the outcomes of our work in the previous 12 months. The review looks at the success of each key activity and the benefits they have brought to those groups of people we are set up to help. The review also helps us ensure our aims, objectives and activities remained focused on our stated purposes. We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives they have set.
The Focus of Our Work
Our main objectives for the year continued to be the advancement of the Christian religion and the relief of poverty and sickness. The strategies we used to meet these objectives included:
-
Provision of Weekly Church Services on Sunday to minister to the physical, spiritual and material needs of the congregants.
-
Advancement of christian values, education and training.
-
Preserve and protect good health and to provide facilities in the interest of social welfare for recreation and leisure occupation with the objective of improving the conditions of life for the inhabitants
-
Provision of Special Events and Meetings to meet the specific needs of target groups in the Church such as Men, Women, Youth and Children.
-
Focusing on the Material needs of certain members undergoing difficult financial situations.
-
Working with other Christian agencies and Churches in Hertfordshire to advance the preaching of the Gospel.
-
Provision of Pastoral Care for Congregants and other members of the community
-
Missionary and Outreach Work
Page 2
Transformation House Church Trustees' Annual Report for the Year Ended 31 January 2022
How Our Activities Deliver Public Benefit
Our main activities and who we try to help are described below. All our charitable activities focus on the advancement of the Christian religion and the relief of poverty and sickness.
Who used and benefited from our Services?
Our Church Services are presented with both the regular congregant and the visitor or seeker in mind. We minister to the physical, mental and spiritual needs of the whole man in our services giving specific consideration to the seekers or new comers in our midst who may not necessarily have a church background and as such may not understand the processes and procedures of Christianity. We have also helped relieve poverty and hardship amongst both regular and irregular congregants who are suffering from a period of financial hardship due to unemployment and lack of financial resources.
Financial Review
The trustees approve an annual budget and give regular attention to financial results, variance from budgets and cash flow. Income was principally derived from the generous gifts and voluntary support of members of the church.
For the year, the charity's income (including recoveries of gift aid) was £61,236 (2021: £55,423) and its expenditure was £54,863 (2021: £16,077), which resulted in a surplus of £6,373 (2021: Surplus of £39,346).
The trustees have considered the church’s current financial position and projections for the coming 12 months. The trustees are satisfied that the church is and will remain solvent through that period.
Principal Funding Sources
The principal funding sources for the charity are currently by way of Donations and Gifts from congregants through the offering basket passed during Church services and direct bank tranfers. We would exercise our right to reclaim the tax on the donations and gifts received from the congregants and trust that this would prove a steady and growing source of additional income. Furthermore, bank interest on deposits have proved a minor additional source of funds.
Reserves Policy
The Board of Trustees has examined the Charity's requirements for reserves in light of the main risks to the organisation. It has established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets held by the charity should be between 3 and 6 months of the expenditure.
The expenditure for Year ended 31st January, 2022 is £54,863 and therefore the targeted reserves should be between £13,716 and £27,432 in general funds. The reserves are needed to meet the working capital requirements of the charity and the trustees are confident that at this level they would be able to continue the current activities of the Charity in the event of a significant drop in funding. This general reserve policy has been met this year.
Page 3
Transformation House Church Trustees' Annual Report for the Year Ended 31 January 2022
Plans for Future Periods
The Charity plans continuing the activities outlined above in the forthcoming years subject to satisfactory funding arrangements.
Plans are also being developed to become more active within the County of Hertfordshire by developing a project focused on helping the less priviledged.
The Charity and Covid-19
The Covid-19 pandemic has had a profound impact on Transformation House Church since the introduction of control measures in March 2020. The Charity has had to adapt its operating model and religious practices to cope with a physically dispersed congregation. These adjustments were most acute for our congregation, who are primarily from disadvantaged and low-income backgrounds, including millennials and senior citizens.
The effect of the pandemic has necessitated significant investment in digital insfrastructure to enable smooth running of church operations to meet congregational needs.
The implications on Church life have become most severe in the below areas:
-
a. Inability to physically visit congregation members at hospitals and those in care;
-
b. Cancellation of face-to-face worship services, including weddings, festivals and funerals;
-
c. Cancellation of missions and pilgrimages;
-
d. Deterioration in mental health and wellbeing of those in isolation, particulary elderly congregation members;
-
e. Diminished sense of community and engagement with worship.
As we begin to emerge from an extended period of sheltering and social distancing, there are residual concerns about attendance, engagement and income.
We have set out below interventions undertaken to mitigate the impact of the pandemic on worship, income and community engagement:
-
a. Provision of Hybrid Services: Church services, programs and teachings have been delivered online since restrictions were put in place by the government. However, during the period of relaxed restrictions, the charity operated with limited capacity and therefore continued to provide online services simultaneously.
-
b. We broadcast from the church building and other locations using collaboration tools (Zoom) and social media platforms (Youtube, Facbook, Twitter and Instagram).
-
c. Sensitization of church members on use of online platforms to make donations.
Page 4
Transformation House Church Trustees' Annual Report for the Year Ended 31 January 2022
Structure, Governance and Management
Governing Document
The Organisation is a charitable company limited by guarantee, incorporated on 8th January 2020 and registered as a charity. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company wound up members are required to contribute an amount not exceeding £10.
Recruitment and Appointment of Trustees
The directors of the company are also charity trustees for the purposes of charity law and under the company's Articles are known as trustees. Under the requirements of the Memorandum and Articles of Association the trustees are elected to serve for a period of three years after which they must be re-elected at the next Annual General Meeting.
All trustees give their time vouluntarily and receive no benefits from the charity.
Due to the nature of Church work, trustees appointed have been so selected on the basis of their faith, strength of Character, skills set in the area of business management and growth and commitment to the vision of the charity.
Trustees Induction and Training
Most trustees are already familiar with the practical work of the charity. Additionally new trustees would be invited as required and encouraged to attend a series of short training sessions to familiarise themselves with the charity and the context within which it operates. These sessions would be jointly led by the Chair of Trustees and the Chief Executive or Senior Pastor of the Charity and cover:
The Obligations of Trustees
-
The Main documents which set out the operational framework for the charity including the
-
Memorandum and Articles.
Resourcing and the current finanicial position as set out in the latest published accounts Future plans and objectives
A Question & Answer pack would be prepared which draws information from various Charity Commission publications signposted through the Commission's guide "the Essential Trustee" as a follow up to these sessions. This will be distributed to all new trustees along with the Memorandum and Articles and the latest financial statements.
Page 5
Transformation House Church Trustees' Annual Report for the Year Ended 31 January 2022
Risk Statement
The trustees recognise the importance of assessing and managing risk associated with the charity's objectives. The process of identifying risk is on-going and is an essential part of the work of the trustees and Management Team. The charity has a set of comprehensive policy and procedure documents in place to ensure on-going identification and management of foreseeable risks.
Financial risk is mitigated through the adoption of comprehensive budgeting and reporting processes. Policy documents relating to risk and compliance issues are reviewed and updated annually. Current policies include:
-
Safeguarding children and vulnerable adults
-
Health and safety
-
Equal opportunities
-
Purchasing
-
Fire safety and evacuation
-
Employment including complaints and disciplinary issues
-
Privacy and data protection
-
Complaints
-
Finance Processes
-
Conflict of Interest
The trustees and staff have been aware of their responsibilities with regard to the new GDPR regulations and action has been taken to ensure compliance.
Organisation
Transformation House Church is governed by a Board of Trustees elected to serve the charity and run its affairs. Annually the Board reviews the range of skills it has available and uses its power of co-option to ensure that gaps are filled. There are a number of other criteria that a trustee must meet.
The Board of Trustees are assisted by the Department leaders. There are two trustees on the Board of Leaders.
The Board of Trustees meet quarterly and are responsible for the strategic direction and policy of the Charity. A scheme of delegation is in place and day to day responsibility for the provision of the services rest with the Senior Pastor who is also the Chief Executive. He is ably assisted by an adminstration staff who imlement day to day operations. The adminstrative team continue to develop their skills and working practices in line with good practice.
Responsibilities of the Trustees
Company 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 charitable trust as at the balance sheet date and of its incoming resources and applications of resources, including income and and expenditure, for the financial year. In preparing those financial statements the Trustees should follow best practice and:
o Select suitable accounting policies and then apply them consistently;
o Make judgements and estimates that are reasonable and prudent
o Prepare the financial statements on the on going basis unless it is in appropriate
- to presume that the charity will continue in business.
Page 6
Transformation House Church Trustees' Annual Report for the Year Ended 31 January 2022
The Trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enables them to ensure that the financial statements comply with Charity Acts of 2006 and 2011. The Trustees 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, and trustees for the purpose of charity law, 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 directors of the company 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.
This report has been prepared by the Order of Trustees:
Bankole Alexander Olagbaiye Director/Trustee
27th January 2022
Page 7
Transformation House Church Independent examiner’s report to the trustees of Transformation House Church for the Year Ended 31 January 2022
I report to the charity trustees on my examination of the accounts of Transformation House Church for the year ended 31 January 2022 on pages 9 to 17 following, which have been prepared on the basis of the accounting policies set out on pages 12 and 13.
Responsibilities and basis of report
As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
Independent examiner’s statement
The Charity’s gross income did not exceed £250,000 therefore our examiner need not be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a Fellow of the Association of Accounting Technicians, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the Charity as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination; or
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Mr Matthew Okuboyejo FCA, MAAT Association of Accounting Technicians
AA Matthew & Co Newspring House 3, Worcester Avenue Old Swan Liverpool L13 9AZ
27th January 2022
Page 8
Transformation House Church
Statement of Financial Activities (including Income and Expenditure Account) for the Year Ended 31 January 2022
| Notes Incoming resources Incoming resources from generated funds: Voluntary Income: Donations and Offerings 3 Total incoming resources Resources expended Cost of generating funds Costs of generating voluntary inc 5 Charity activities 6 Governance Costs 7 Total resources expended Net Incoming resources before other recognised gains Net movement in funds Reconciliation of Funds Total funds brought forward Total funds carried forward |
2022 2022 2021 Unrestricted Restricted Total Total Funds Funds Funds Funds £ £ £ £ 61,236 - 61,236 55,423 |
|---|---|
| 61,236 - 61,236 55,423 |
|
| 18,063 - 18,063 7,576 35,785 - 35,785 7,826 1,015 - 1,015 675 |
|
| 54,863 - 54,863 16,077 |
|
| 6,373 6,373 39,346 |
|
| 6,373 6,373 39,346 39,346 - 39,346 - |
|
| 45,719 45,719 39,346 |
There were no recognised gains or losses for the period other than those included in the Statement of Financial Activities.
All Income and expenditure derive from continuing operations.
The statement of financial activities also complies with the requirements for an income and expenditure account required by the Companies Act 2006.
The notes on Pages 12 to 17 form part of these accounts.
Page 9
Transformation House Church Balance Sheet as at 31 January 2022
| Notes Fixed assets Tangible assets 9 Currents assets Cash at bank and in hand 12 Creditors: amounts falling due within one year 10 Net Current Assets Net Assets Unrestricted funds General Funds 14 Total Funds |
2022 £ 12,375 34,144 34,144 (800) 33,344 45,719 45,719 45,719 |
2021 £ 16,500 23,521 |
|---|---|---|
| 23,521 (675) |
||
| 22,846 | ||
| 39,346 | ||
| 39,346 | ||
| 39,346 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st January 2022
Responsibilities of Directors/trustees:
-
a. The members have not required the company to obtain an audit of its financial statements for the year ended 31st January 2022 in accordance with Section 476 of the Companies Act 2006. However, in accordance with Section 145 of the Charities Act 2011, the accounts have been examined by an independent examiner whose report forms part of this document.
-
b. The directors/trustees acknowledge their responsibilities for complying with the requirements of the companies Act with respect to accounting records and the preparation of accounts.
The Financial Statements were approved by the board on 27th January 2022 and were signed on it's behalf by:
Bankole Alexander Olagbaiye Director/Trustee
COMPANIES HOUSE NO:12391353
CHARITY COMMISSION NO:1190318
The notes on pages 12 to 17 form part of these financial statements.
Page 10
Transformation House Church Cash Flow Statement
for the Year Ended 31 January 2022
| Transformation House Church Cash Flow Statement for the Year Ended 31 January 2022 |
|
|---|---|
| Note 2022 £ Cashflows from operating activities: Net cash provided by (use in) operating activities A 10,623 Cashflows from investing activities: Net cash provided by (use in) investing activities B Cashflows from financing activities: Net cash provided by (use in) financing activities Change in cash and equivalents in the reporting period 10,623 Cash and equivalents at the beginning of the yea C 23,521 Cash and equivalents at the end of the year C 34,144 NOTES TO THE CASH FLOW STATEMENT Note A: Reconciliation of net income/(expenditure) to net cash flow from operating activities: 2022 £ Net income/(expenditure) for the reporting period (as per the statement o 6,373 Adjustments for: Depreciation Charges and provisions for impairment 4,125 (Increase)/Decrease in debtors - Increase/(Decrease) in creditors 125 Net cash provided by (used in) operating activities 10,623 Note B: Reconciliation of net cash flow from Investing activities: 2022 £ (Purchase)/Sale of assets - Net cash provided by (used in) operating activities - Note C: Analysis of cash and cash equivalents 2022 £ Cash at bank with immediate access 34,144 Total Cash and Cash equivalents 34,144 |
2021 £ 45,521 |
| (22,000) | |
| 23,521 - |
|
| 23,521 | |
| 2021 £ 39,346 5,500 - 675 |
|
| 45,521 | |
| 2021 £ (22,000) |
|
| (22,000) | |
| 2021 £ 23,521 |
|
| 23,521 |
Page 11
Transformation House Church Notes forming part of the financial statements for the Year Ended 31 January 2022
1. Statutory Information
The charity is a charitable company limited by guarantee and is incorporated in the United Kingdom. The Company's registered number and registered office address can be found on the Company Information page.
2. Accounting Policies
These financial statements are prepared on a going concern basis, under the historical cost convention
These financial statements have been prepared in accordance with the "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) ("the Charities SORP"), with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland ("FRS 102"), with the Companies Act 2006 and with the Charities Act 2011. The charity meets the definition of a public benefit entity as set out in FRS 102.
The principles adopted in the preparation of the financial statements are set out below.
a). Going concern
The trustees (who are the charitable company's directors for the purposes of company law) have assessed whether the use of the going concern basis is appropriate and have considered possible events or conditions that might cast significant doubt on the ability of the charity to continue as a going concern. The trustees have made this assessment for a period of at least one year from the date of approval of the financial statements. In particular the trustees have considered the charity's forecasts and projections and the possible implications should projected income and/or expenditure vary unexpectedly. The trustees have concluded that there is a reasonable expectation that the charity has adequate resources to continue to operate for the foreseeable future.The charity therefore continues to adopt the going concern basis in preparing its financial statements.
b). Income
Income including investment income is recognised in the period in which the charity becomes entitled to receipt, the amount receivable can be measured with reasonable certainty, and receipt is probable. For the most part, income is generally recognised when it is received. Income is only deferred when the charity has to fulfil conditions before becoming entitled to it or where the donor has specified that the income is to be expended in a future period.
Income from donations and legacies includes:
i). Voluntary income is received by way of donations and gifts and is included in full in the Statement of Financial Activities when receivable.
ii). Recoverable gift aid. This is recognised when the related donation is received. Gift aid that has not been recovered by the balance sheet date is included as a debtor.
iii). Goods donated for distribution to beneficiaries are recognised as income when receivable at fair value (being an estimate of the amount it would cost to purchase those items).
The charity relies on volunteers to carry out many of its activities, particularly the work with Youth Church and Adult Church. However, in accordance with the SORP, the value of these services has not been included in these financial statements as they cannot be reliably measured.
Page 12
Transformation House Church Notes forming part of the financial statements for the Year Ended 31 January 2022
When donated goods are distributed an expense in respect of those items is included in the Statement of Financial Activities. At the year end any goods that have not been distributed are recognised as stock.
Income from charitable activities represents income receivable from goods, services and facilities supplied in furtherance of the charity's charitable objects. It includes income from church retreats and other events and courses.
The charity has taken the view that it has only one charitable activity, namely the advancement of the Christian faith and all income from donations, legacies and charitable activities is in respect of this one activity.
c). Expenditure
Expenditure, including irrecoverable VAT, is recognised when it is incurred or, if earlier, when a legal or constructive obligation for a payment arises provided that it is probable that settlement will be required and the amount of the obligation can be measured reliably.
The charity makes grants to other institutions and individuals to further its charitable objectives. Grants payable are recognised as constructive obligations arise, which is generally when the charity expresses a commitment to the recipient that can be measured reliably and then only to the extent that any conditions associated with the grant are outside of the control of the charity.
The Charities SORP requires charities with income over £500,000 to allocate costs to the various activities undertaken by the charity. The nature of the work of the charity is considered to be so integrated that the core ccharity activity costs are considered to be for the one activity.
Governance costs, which are included in expenditure on charitable activities but are identified separately in the notes to the accounts, includes costs associated with the independent examination of the financial statements, compliance with Constitutional and statutory requirements and any other expenditure incurred on the strategic management of the charity.
d). Fund Accounting
General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. Restricted funds are donations which are to be used in accordance with specific restrictions imposed by donors; they include donations received from appeals for specific activities or projects.
e). Tangible Fixed assets
Fixed assets (excluding investments) are stated at cost less accumulated depreciation. The costs of minor additions or those costing below £1,000 are not capitalised. Depreciation is provided at rates calculated to write off the cost of each asset over its expected useful life, which in all cases is estimated at 4 years.
Investments held as fixed assets are revalued at mid market value at the balance sheet date and the gain or loss taken to the Statement of Financial Activities.
f). Stocks
Stocks of donated items held for distribution to beneficiaries are measured at fair value.
Page 13
Transformation House Church Notes forming part of the financial statements for the Year Ended 31 January 2022
g). Pension Scheme arrangements
The charity operates defined contribution pension schemes for its employees. Obligations for contributions to these schemes are recognised as an expense when the liability arises. The assets of these schemes are held separately from those of the charity in independently administered funds.
h). Taxation
As a charity, Transformation House Church 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.
The company is a registered charity; it has taken advantage of the various reliefs from taxation available to charities and no tax is payable on the charity's income.
i). Critical accounting estimates and areas of judgement
The trustees do not consider that there are any material sources of estimation or uncertainty at the balance sheet date that could result in a material adjustment to the carrying values of assets and liabilities in the next reporting period
| 3. Donations | Unrestricted | Unrestricted | Restricted | 2022 | 2021 | |
|---|---|---|---|---|---|---|
| Total | Total | |||||
| £ | £ | £ | £ | |||
| Donations -Tithes | and Offering | 61,236 | - | 61,236 | 55,423 | |
| 61,236 | - | 61,236 | 55,423 | |||
| 4. Costs of Generating Voluntary | Income | |||||
| Church Work | upport Cost | Governance | 2022 | 2021 | ||
| Basis of Allo | £ | £ | £ | £ | £ | |
| Administration | Direct | 6,352 | 6,352 | 1,606 | ||
| Support Costs | Direct | 5,581 | 5,581 | 5,500 | ||
| Premises | Direct | 6,130 | 6,130 | 470 | ||
| 12,482 | 5,581 | - | 18,063 | 7,576 | ||
| 5. Charitable Activities | ||||||
| Ministry | Direct | 35,785 | 35,785 | 7,826 | ||
| 35,785 | - | - | 35,785 | 7,826 |
Page 14
Transformation House Church
Notes forming part of the financial statements for the Year Ended 31 January 2022
6. Governance Cost
| Professional Fees Direct - 1,015 1,015 675 - - 1,015 1,015 675 Total Resources 48,267 5,581 1,015 54,863 16,077 Expended 7. Net Incoming Resources for the Year This is stated after charging: 2022 2021 £ £ Accountant's Remuneration 1,015 675 1,015 675 8. Analysis of staff costs, the cost of key management personnel and trustee remuneration and expenses 2022 2021 £ £ Gross wages and salaries & bebnefits in kind Social Security Pension Costs - - |
- | 1,015 1,015 |
675 |
|---|---|---|---|
| - - |
1,015 1,015 |
675 | |
| 48,267 5,581 |
1,015 54,863 |
16,077 | |
| 2021 £ 675 |
|||
| 675 | |||
| - |
The average monthly number of employees during the year was nil (2021: nil). Most of the charity's activities are carried out by volunteers.
No staff received salaries at a rate of more than £60,000 per annum.
The charity's key management comprise only of the trustees and there were no key staff(s)
Page 15
Transformation House Church
Notes forming part of the financial statements for the Year Ended 31 January 2022
9. Tangible Fixed Assets
| Cost At 1 February, 2021 Additions in year At 31 January 2022 Depreciation At 1 February, 2021 Charge for the year At 31 January 2022 Net Book Value At 31 January 2022 At 31 January 2021 10. Creditors: Amounts falling due within one year Accruals & Deferred Income 11. Net incoming resources for the year This is stated after charging: Depreciation Accountancy Fees |
Music Equipment £ 22,000 - 22,000 5,500 4,125 9,625 12,375 16,500 2022 £ 800 800 2022 £ 4,125 1,015 5,140 |
2022 £ 22,000 - |
|---|---|---|
| 22,000 | ||
| 5,500 4,125 |
||
| 9,625 | ||
| 12,375 | ||
| 16,500 | ||
| 2021 £ 675 |
||
| 675 | ||
| 2021 £ 5,500 675 |
||
| 6,175 |
Page 16
Transformation House Church
Notes forming part of the financial statements for the Year Ended 31 January 2022
| 12. Cash In Hand and at Bank Lloyds Bank 13. Analysis of Net Assets Between Funds General Funds £ Tangible Fixed Assets 12,375 Current Assets 34,144 Current Liabilities (800) Net Assets at 31st January 2022 45,719 14. Movements in Funds At 1 February Incoming 2021 Resources [Inc Gains] £ £ Unrestricted Funds: General Funds 39,346 61,236 Total Funds 39,346 61,236 |
12. Cash In Hand and at Bank Lloyds Bank 13. Analysis of Net Assets Between Funds General Funds £ Tangible Fixed Assets 12,375 Current Assets 34,144 Current Liabilities (800) Net Assets at 31st January 2022 45,719 14. Movements in Funds At 1 February Incoming 2021 Resources [Inc Gains] £ £ Unrestricted Funds: General Funds 39,346 61,236 Total Funds 39,346 61,236 |
General Funds £ 12,375 34,144 (800) |
2022 2021 £ £ 34,144 23,521 34,144 23,521 Designated Restricted Total Funds Funds Funds £ £ £ - - 12,375 - - 34,144 - - (800) |
2021 £ 23,521 |
|---|---|---|---|---|
| 23,521 | ||||
| 45,719 | - - 45,719 |
|||
| Outgoing Transfers At 31 January Resources 2022 £ £ £ (54,863) 45,719 |
||||
| 39,346 61,236 |
(54,863) - 45,719 |
15. Transactions with related parties
During the previous and current year under review, the charity had no related parties' transactions.
Page 17
Transformation House Church Notes forming part of the financial statements for the Year Ended 31 January 2022
| Income LESS OVERHEADS Premises Costs Venue Hire Administration Subscription and Membership Fees Website Charges Marketing & Administration Printing, Postage & Stationary Ministry Events, Conferences & Meetings Honourarium Musicians and Instrumentalist Technical Assistant Love Gift & Welfare Donations Food Bank Storage Equipment Hire Sundry Equipment Media & Publicity Print and Design Professional Fees Audit & Accountancy Fees Support Costs Depreciation Refreshments Hotel and Travel Sundries Total Expenses Surplus/(Deficit) for the year Surplus Brought Forward Surplus Carried Forward |
2022 £ 61,236 6,130 6,130 2,254 401 3,635 62 6,352 - 3,500 8,375 3,765 1,439 1,700 - 1,311 1,395 3,992 8,750 1,558 35,785 1,015 1,015 4,125 1,274 78 104 5,581 (54,863) 6,373 39,346 45,719 |
2021 £ 55,423 470 |
|---|---|---|
| 470 276 330 1,000 - |
||
| 1,606 5,194 - - - - - 500 - - - 2,132 - |
||
| 7,826 675 |
||
| 675 5,500 - - - |
||
| 5,500 (16,077) |
||
| 39,346 - |
||
| 39,346 |
This page does not form part of the statutory accounts.
Page 18