2023-03-31-accounts - Trinity Baptist Church

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		Page
Charity information			1
Trustees' Annual Report		2-9
Statement oftrusteess'	responsibilities		10
Independent auditor's	report	11-	12
Funds Statements:-
Statement of Financial Activities			13
Movements in funds			14
Revenue Funds			15
Balance sheet		16 -	17
Cash Flow Statement		18-20
Notes to the accounts		21 -29
Income and Expenditure	analysis	30-	33

Rev. Kingsley Appiagyei		Head Pastor &Chief Exec.Officer
Rev. Kweku Amosah		Pastor
Rev. Stephen Asibuo		Pastor
Mr. Alexander Appiah		Elder and Head of Finance
Ms Grace Catherine Amponsah		Deaconess
Mr Samuel Noye Narh		Pastor
Dr Bernard Aisar Davis		Elder
Dr Christopher Vendee		Elder
Mr Peter Yung-Hoi		Elder
Mr Francis AAAmponsah	Yebuah	Elder

fully detailed	in the a	ccounts, can be summarised	as follows:-
			2023	2022
Net income			1,745,616	245,080
Unrestricted the general	Revenue Funds available for purposes ofthe charity		6,398,093	3,542,481
Unrestricted	revaluation reserve		311,648	1,421,648
Total Unrestricted		Funds	6,708,741	4,864,128
Restricted Revenue		Funds	31,034	31,034
Total Funds			6,740,775	4,995,163

Statement ofFinanc	ial Activities	for the year ended	31March 2023
		Cununt year	Current year	Current year	Prior Year
		Urllsstdcted	Restricted	TotslFunds	TotalFunds
		Funds	Funds
		2923	2023	2C23	3C33
		2	6	f	8
Income &Endowments	from:
Donations 8 Legacies		1,390,728		1,$$0,728	1,272,819
Investments		20		20	45
Gain on Disposal ofTangible Assets		1,579,064		1,579,064
Total income		2,96$,812		2,96$,812	1,272,885
Expenditure on:
Charitable activities		1,224,196		1,224,196	1,027,785
Total expenditure		1,224,196		1,224,'l96	1,027,785
Net income tor the year		1,745,616		1,745,616	245,080
Net Income after transfers		1,745,616		1,745,616	245,080
Net movement In funds		1,745,616		1,745,816	245,080
Reconciliation offunds:-
Total funds brought forward		4,964,129	31,034	4,995,163	4,750,081
Total funds carried forward		6,70$,745	$1,034	6,740,779	4,995,161

				2023	2022
				5	5
Surplus forthe year:-
Nst excess ofincome over expenditure Realised gains/(losses) on the disposal	from operations oftangible txed	before tax assets		166.552 1,579,064	245,080
Realised gains on disposals ofsocial investments which are programme			related
Income from operations before toxin	tbe Slalemenr	ofFinancial Activites		1,745,816	245,080
Net Movement in funds before taxation				1,745,616	245,080
Funds generated in the year as shown	on Statement ofFinancial Activities			1,745,616	245,080

TRINITY BAPTIST CHURCH -Resources applied assets for Charity use:-	In the year ended 31 March 2023 towards fixed	In the year ended 31 March 2023 towards fixed
	2023	2022
	2
Funds generated in the year as detailed in the SOFA Resources applied on functional fixed assets Other applications offunds	1,745,616 533,532	245,060 16,492
Net resources available to fund charitable activities	2,279,148	261,572

Movements in reven	Movements in reven	ue and	ue and	capital	funds forthe year	ended 31 M	arch 2023
Revenue accumulated		funds
					Unrestricted	Restricted	Total	Lastyear
					Funds	Funds	Funds	TotalFunds
					2023f	2023f	2023f	2022f
Accumulated	funds brought		forward		3,542,481	31,034	3,573,515	3,328,433
Recognised	gains and	losses before			1,745,615		1,745,616	245,080
transfers
					5,288,097	31,034	5,319,131	3,573,513
(From)/To unrestricted		revenue		funds	1,110,000		1,110,000
Closing revenue funds					6,398,097	31,034	6,429,131	3,573,513
Revaluation	Reserve	Fund			Unrestricted	Restricted	Total	Lastyear
					Funds	Funds	Funds	Total Funds
					2023f	2023f	2023f	2022f
At 1 April					1,421,548		1,421,648	1,421,648
Transfer (to)/from revenue			funds		(1,110,000)		(1,110,000)
At 31 March					311,648		311,648	1,421,648
(The transfer	of!,1100,000		was	realised	reserve on disposal ofthe property,		2 Thomlaw Rd, West	Ivorwwod - see
notes)
Summary of funds					Unrestricted	Restricted	Total	Last Year
					and	Funds	Funds	TotalFunds
					Designated funds
					2023f	2023f	2023f	2022f
Revenue accumulated		funds			6,398,097	31,034	6,429,131	3,573,513
Revaluation	reserve fund				311,648		311,648	1,421,648
Totalfunds					6,709,745	31,034	6,740,779	4,995,161

TRINITY BAP	T	IST CHURCH -	Balance	Balance	Sheet as at 31 March 20	23
			Notes		2023		2022
							6
Fixed assets
Tangible assets					7,800,560		9,086,898
Current assets
Debtors					1,159,431	204.286
Cash at bank and in		hand			1,744,552	37,957
Total current assets					2,903,983	242,243
Creditors: amounts		falling due within
one year				13	(315,649)	(251,562)
Net current assets					2,588,334		(9,320)
					10,388,894		9,077,578
Net assets
Creditors: amounts	falling due after more
than one year			14		(3,648,115)		(4,082,416)
The total net assets		ofthe charity			6,740,779		4,995,162
The total net assets		ofthe charity are funded		by the funds ofthe charity, as follows.		-
Restricted funds
Restricted Revenue	Funds				31,034	31,034
					31,034		31,034
Unrestricted Funds
Unrestricted Revenue		Funds	19		6,398,097	3,542,480
Unrestricted Revaluation Reserve			19		311,648	1,421,648
					6,709,745		4,964.128
Designated Funds
Total charity funds					6,740,779		4,995,162

						2023	2022
Cash flows from operating activities
Net cash provided by operating activities as shown		below			A	(943,813)	94,011
Cash flows from investing activities
Proceeds from sale of property, plant and equipment						2,800,000
Purchase of property, plant and equipment						(18,109)	(25,435)
Net cash provided by investing activities					B	2,781,891	(25,435)
Cash flows from financing activities
Cash inflows from new borrowings						(132,481)	(147,288)
Net cash provided by financing activities					C	(132,481)	(147,296)
Overall cash provided by all activities				A+B+C		1, 05.597	~78,72D)
Cash movements
Change in cash and cash equivalents from activities		in	the
year ended 31 March 2023						1,706,598	(78,720)
Cash and cash equivalents at 1 April 2022						37,957	116,676
Change in cash and cash equivalents due to exchange			rate	movements
Cash at bank and in hand less overdrafts	at	31	March			1,744,554	37,956

Net income as shown in the Statement of Financial	Net income as shown in the Statement of Financial		1,745,615	245.082
Adiusanents for:-
Depreciation charges			83,514	86,446
Wdte downs ofinvestments
Net unrealised losses on investment	assets
Interes payable			88,085	82,594
Dividends, interest and rents from investments			(20)	(46)
Loss on the sale ofFixed and Intangible Assets			(1,579,064)	8,169
Decrease in debtors			(955,145)	(13,225)
Increase in creditors, excluding loans			(238,733)	(232,461)
Interest received			20	46
Interest paid			(88,085)	(82,594)
Net cash provided by operating	activities	A	(943,813)	94,011
Analysis ofcash and cash equivalents
			2023	2022
			5
Cash in hand for the year ended 31	March 2023		1,744,555	37,957
Notice deposits - (less than 3months)
Total cash and cash equivalents			1,755,555	37557

	Atstart	Cash	Atend
	ofyear	Flows and	ofyear
Cash	37,957	1,706,595	1,744,552
		1,706,595	1,706,595
Loans falling due within one year	(166,142)	(37,603)	(203,745)
Loans falling due after more than one year	(1,964,582)	170,084	(1,794,499)
Finance lease obligations	(4,156)
Total	(2,096,923)	1.839,676	~7297,648

5	Net surplus befom	tax	in the financial	year
							2023		2022
							6
	The net surplus befom tax in the financial			year	is stated after	charging:-
	Depreciation ofowned fixed assets Pension costs Auditors' remuneration						83,514 18,855 6,500		86,446 14,962 5,000
6	Interest payable						2023		2022
							6		6
	Loan interest						88,085		82,594
	Write offs						(9,964)
							78 121		82.594
	Staffcosts aad
	emoluments
	Safary costs						2023	2022
							5
	Gross Salaries excluding		trustees and key
	management personnel						316,897	250,691
	Employer's National	Insurance for all staff					30,009		20,386
	Employer's operating	costs ofdefined contribution
	pension schemes						18,855		14,962
	Total salaries, wages and related costs						365,761	286,039
							2023	2022
	The average number	of full time staff employed			in the year was		12	12
	The estimated full time equivalent number			of all	staff employed	in the
	year was						12	12
	Neither the trustees	nor any persons connected			with them have	received	any remuneration	from the	charity
	or any related entity,	either	in the current or prior		year.

Ana/ysls ofprin	cipal SOFA components	for the cunent r	eporting parian
		Trinity Bspfist	Trinity Baptist
		Church	Church
		(rsgnr 1132192)	(regs: 1191941)		Combined
		Prs merger	Prs merger	Post msrqsr	Total
		9	6	5	2
Total income				1,390,748	1,390,748
Totalexpenditure				(1,224,196)	(1,224,196)
Net Income for	the year			166,552	166,552
Other gains for the year				1,579,064	1,579,064
Net movement	In funds			1,745,616	1,745,616
Analysis ofpnnci pal soFA components		for ine previous	reporting per/od
			Teeny Sspest	Trlnny Baptist	Trinity Baptist
			Church	Church	Church
			(rsgnr 1132192)	(rsgn: 1191941)	(rsgn: 1191941)
			Prs merger	Prs merger	Tstslesmaissd
			8	5	5
Total income			1,272,867		1,272,867
Total expenditure			(1,027,785)		(1,027,785)
Net Income for	the year		245,082		245,082
Net movement	In funds		245,082		245,082
Total funds bmught forward
Total funds carried forward			245,082		245,082

Notes tothe Accounts for the yea	r ended 32 March	2623
Analysis ofnet assets at the date of	ihe merger
		Trinity Baptist	Trinity aspest
		Cbumb	Church	Combined
		(rsgn: 1132192)	(rsgm 1191041}	Total
		8	8	8
Net assets		4,995,162		4,995,162
Represented by:-
Unrestricted funds Restricted income funds		4,964,128 31,034		4,964,128 31,034
Totalfunds		4995162		4,995 162
11 Tangible fixed assets
Cunent Year	Land and Bundings	Plant 8 Machinery	Motor Vehicles	Total
Cost
At 1 April 2022	9,751,230	1,060,274		10,811,504
Additions		18,109		18,109
Disposals	(1,680,205)	(450,500)		(2,130,705)
At 31alarch 202$	8,071,025	627,883		3,998,90S
Depreciation
At 1 April 2022	1,157,246	567,360		1,724,606
Charge for the year		83,514		83,514
On disposals	(559,307)	(350,462)		(909,769)
At 31March 2023	597,939	300,412		898,$51
Net book value
At 31 March 2023	7,473,086	327,471		7,800,557
At 31March 2022	8583984	492914		9066,898
Prior Year	Land and Bugdings	Plant 8 Machinery	Motor Vehicles	Total
	2
Cost
01 April 2021 Additions Disposals	9,746,703 4,527	1,039,366 20,908	41,927 (41,927)	10,827.996 25,435 (41,927)
31 March 2022	9781,230	1,060,274		10811,504
Depreciation
01 April 2021 Chan)a for the year( py adjustment On dieposals	1,157,246	480,914 86,446	33,758 (33.756)	1,671,918 66,446 (33,758}
31 March 2022	1 167,246	567,360		1,724,608

	Net book value
	31March 2022				8.503.084			492,914		9,086,898
	31March 2021				8,589,457			558,452	8,18$	$,166,078
12	Debtors
									202$f	2022 f
	Prepayments snd accrued		inmme						19,431	204,286
	Other debtors								1,140,000
									1,15$,431	204,286
13	Creditom: amounts	falling		due within	one	year			202$f	2022
	Bank loans and overdrafls								203,745	166,142
	Accruals								0,500	5,500
	PAVE, NIC VAT and other		taxes						15,932	6,507
	Other creditors								89,473	73,413
									315,649	251,502
14	Creditors: amounts	falling		due affer	one year				202$	2022
									6
	Bank loans and overdraas								1,784,488	1,904,682
	Deferred Income - Unrestricted			&designated	funds					160,000
	Finance lease and HP contracts									4,166
	Other creditors								1,85$,617	1,85$,078
									3,648,115	4,082416
15	Revaluation reserve
					Current year			Current year	Current yssr	Prier Year
	Canent year				unmstncted Funds			Restricted Funds	TotslFunds	TotelFunde
					2523			202$	2023	2022
							6	6	6	f
	At 1 April 2022				1,421,648				1,421,648	1,421,648
	Transfers in the year				(1,110,000)				(1,110,000)
	At 31inarch 2023					$11,648			$11,648	1,421,648
	Ths transfer off1,110,000		was	to general reserves		realised	on the sale ofproperty,		2 Thomlaw Rd.
16	Movement in revenue		in the year						2023 f	2022f
	At 1 April 2022								3,573,513	3,328,433
	Transfers in for the year								1,110,000
									4,683,513	3,328,433
	Surplus aRer tax for the	year							1,745,610	245,080
	At 31alarch 202$								6r429,12$	3,573,513

At 31 Msmh 2023						Unrestricted	Designated	Designated	Designated	Restricted	Restricted	Restricted		Total
						funds	funds			funds				Funds
						6		5			5			6
Tangible Fixed Assets						7,800,557								7,800,557
Current Assets												31,034
Current Liabilities						(315,649)								(315,540)
Long Term Liabilities						(3,648,115)								(3,648,116)
						3036793						31034		3836793
At 1 Apdil 2022						Unrestncted	Oesignstsd			Restricted				Total
						funds	funds			funds				Funds
						8		6			6			2
Tangible Fixed Assets						9,086,808								9,086,888
Current Assets												31,034
Current Liabilities						(251,562)								(251,502)
Long Term Liabilities						(4,082,416)								(4,082,416)
						4762 820						31034		4752920
Change in total	funds over the				year	as shown in Note 18,		analysed		by individual			funds
						Funds brought	Inovement		in	Transfers	between			Funds cerned
						forward from 2022	funds	in 2023		funds	in	2023		forward ts 2024
							aee Note 20
						6		8
Unrestricted end designated				funds:-
Unrestricted Revenue		Funds				3,542,481	1,745,616			1,110,000				6,398,097
Unrestricted Revaluation			Reserve			1,421,648				(1,110,000)				311,648
Total unrestricted	and		designated		fund.'	4,964,12(i	1,745,616							6,709,745
Restricted funds:-
Restricted funds						3'!,034								31,034
Total mstricted funds						31,034								31,034
Tots I charity funds						4,995,163	1,745,616							6,740,779

				Other
		Income	Expenditure	Galas 5	Movement
				Losses	in funds
		2023	2023	2323	2923
		E	E	6	E
1/nrestri ctad and des/dna ted fund@:-
Unrestricted	Revenue Funds	2,969,612	(1,224,196)		1,745,618

Th	is analysis i	is analysis i	s classs	s classs	ifi ed by conventional nomi	nal descnpfions	and not by ac	tivity.
24	Donations,		Grants		and Legacies
						0unellt year	Cunvnt year	Cunsht year	PnorYear
						Unrestricted	Restricted	TotalFunds	TotsiFunds
						Funds	Funds
						2023	2023	2023	2022
						2	2
	Offerings 8		donnations
	Tithes &Weekly offerings					1,068,307		1,068,307	978,407
	Covenant Aid-income				tax recoverable
						197,082		107,062	211,550
	Conference	income
						38.254		38,254	4,504
	Hire ofhalls
						6,117		6,117	7,096
	All other income
						26.689		26,689	11,599
	Total Offering 8 donnations					1,336,429		1,336,429	1,213,156
						Current year	Current year	Current year	Prior Year
						Uurvsaictvd	Restkcted	ToteIFunds	Torsi Funds
						Funds	Funds
						2023	2023	2023	2022
						2	8
	Annual Thanksgiving
	Annual Thanksgiving
						54.299		54,299	59,663
	Total Annual		Thanksgiving			54,290		54,299	50,663
	Total Donations,				Grants and Legacies
	Total Donations, Legacies			Grants and		1,390,728		1,390,728	1,272,819

25	Investment income
					Current year	Current year	Current year	Poor Year
					Unrestricted	Restricted	Total Funds	ToiaiFunds
					Funds	Funds
						202$	2023	2022
						2	2	2
	Bank Interest Receivable				20		20	46
	Total investment income				20			46
26	Other income and gains
					Cunent year	Cunent year	Cuneni year .	Prior Year
					Uhresilicied	Reelected	Total Funas	ToiaiFunds
	Cunent year				FuaIis	Funds
							3023	2022
							5
	Summary ofRealised	Gains
	Realised gains on disposals oftangible
	iixed assets held forihe charity's			own use	1,579,064		1,579,084
	Total other income				1,579,064		1,579,O64
27	Expenditure on charitable		activities - Direct spending
					Current year	Current year	Current year	Prior Year
					Unrestricted	Restncted	ToisiFunds	Total Funds
	Current Year				Funds	Fuiu/s
					2S23	2023	2923	2022
					2		K
	Gross wages and salaries activities		- charitable		205,983		205,983	162,949
	Employers' Nl - Charitable		activities		19,506		19,5OO	13,251
	Defined contribution pension charitable activities			costs-	12,256		12,256	9,725
	Travel and Subsistence Activities	- Charitable			32,624		32,624	12,511
	Media &TV ministries/video/audio				3,942		3,942	1,850
	Donations &charity				31,790		31,790	40,214
	Conferences, seminars	&training			33,463		33,483	5,241
	Motor expenses				10,162		10,162	55,587
	Music expense				78,833		78,833	50,419
	Services 8 church expense				21,764		21,764	10,625
	Welfare/funerals/marriages/social				116,770		116,770	70,770
	Children 8 youth work				36,445		36,445	14,860
	Total direct spending				603,558		603,558	448,012

28 Support costs for charitable activities
Current Year	Current year unrsstdcted Fiiiiirs	Current year Restdcted Funds	Current year TotalFunds	prior Toad	year Funds
Employmenf &related activities Salaries -Administrative staff Defined contribution pension cost-	2023 E 110,914	2023 E	2023 E 110,914		2022 E 87,742
administrative staff	6,599		6,5$0		5,237
Employers' Nl - Administrative staff Guest speakers 6 preachers Scholarship 8 Grants Missions abroad	10,503 41,695 4,032 1,700		10,503 41,695 4,032 1,700		7,135 20,660 8,260 4,000
Premises Expenses
Rent, Rates and water charges. . .— Light and heat Cleaning and waste management Premises repairs, renewals and	— 51r367 30,812 21,946		51,367 30,812 21,946	—	i - 36376 31,311 26,573
maintenance Council Tax	19,526 3,338		19,528 3,338		24,079 4,701
Administrative overheads
Telephone, fax and internet Postage Printing, postage and stationery Subscriptions Lease rental	11,104 1,367 7,804 4,885		11,104 1.367 7,804 4,885		14,503 424 8,492 12,206
Equipment leasing &maintenance Advertising and marketing Sundry expenses Fixed assets disposals Computer consumables Wages and salaries	31,118 5,791 750 3,683 17,741		31,118 5,791 750 3,683 17,741		8,399 32,495 1,743 (383) 4,339 4,280 20,951
Financial costs
Bank charges Loan interest Depreciation &Amortisation in total for Write offs	4,699 88,085 83,514 (9,964)		4,699 88,085 83,514 (9,964)		4,378 82,594 86,446
Support costs before reallocation	553,011		553,011		535,049
Total support costs -Current Year	553,011		553,011		535,049

Other Expenditure	Other Expenditure	Other Expenditure
			cuneut year	cunent year	Current year	Prior Year
			Uol88tricl8d	R88tn'c'l8d	Total Funds	Total Funds
Current Year			Funds	Funds
			2023	2023	2023	2022
			E	E	E	r.
AuditoVs fees			8,500		6,500	5,000
Accountancy	fees		10,970		10,970	6,500
Professional fees			37,159		37,159	20,426
Insurance			12,998		12,998	12,798
Total Governance		costs	67,827		67,627

Total Charitable	expenditure
		Current year	Current year	Current year	Prior Year
		Uar88tnct8d	Restricte	Total Funds	Total Funds
Currant Year		Funds	Funds
		2023	2023	2023	2022
		f	E	f	f
Total direct spending		603,558		603,558	448,012
Total support costs		553,011		553,011	535,049
Total Governance	costs	67,627		67,627	44,724
Total charitable expenditure		1,224,196		1,224,196	1,027,785

A5 the expenditure	in the prior year was unrestricted.
		Prior Year	Prior Year	Prior Year
		Unrestricted	Restricte	TctalFundc
Prior Year		Funds	Funds
		2022	2022	2022
Total direct spending		448,012		448,012
Total support costs		535,049		535,049
Total Governance	costs	44,724		44,724
Total charitable expenditure		1,027,785		1,027,785

END OF REPORT