2021-09-30-accounts

DIVINE MERLY FELLOW%HIP YL4R ENDED.. 30 %EPTEMBER 2021

Contents

Legal and Adminstrative Information	1
Report of the Trustees	2-4
Independent Examiner's Report	5
Statement of Financial Activities	6
Balance Sheet	7
Notes forming part of the financial statements	8-12
The following page does not form part of the Statutory Accounts
Income and Expenditure Account	13

DIVINE MERCY FELLOWSHIP REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2021

Reference and Administrative information
Charity Name:	Divine Mercy Fellowship
Charity Registered Number:
Principal Address	3 Fyfield Walk
	Cheetham Hill
	Manchester
	M8 8WH
Trustees	Olatunde Olurinde	(Chairman)
	Temitope Aderohunmu
	Charles Banji Fasoranti
	Charles Ukaegbu
Secretary	Cynthia Ukaegbu
Bankers	Barclays Bank
	Leicester
	LE87 2BB
Accountants:	PVG Accounting Services & Consultancy Ltd
	344 Moston Lane
	Manchester
	M40 9JS

Page 1

DIVINE MERCY FELLOWSHIP REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2021

The trustees present their report and the financial statements for the year ended 30 September, 2021 The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities' effective 1 January 2015.

Structure, Governance and Management

Governing Document

Our organisation is a Charity which is still in the process of registring with the Charity Commission.

Recruitment and appointment of new trustees

Generally trustees are appointed by Board of Trustees. Trustees are appointed by invitation as at when required and depending on their expertise and requirements of the charity.

Induction and training of new trustees

The charity arranges appropriate training both internally and through other voluntary training providers. The trustees and all involved in running the charity, including volunteers are always encouraged to acquire the necessary skills required for the achievement of the charity objectives.

Additionally, new trustees are invited and encouraged to attend series of short training sessions to familiarise themselves with the charity and the context within which it operates.

Organisational structure

The trustees who served during the period and up to the date of the report are set out above. The day to day responsibility for the running of the charity lies with the the visionary who is the Chief Executive Officer. The CEO is accountable to the Board of Trustees who are ultimately responsible for all strategic decisions of the charity.

The trustees meet regularly and are responsible for the strategic direction and policy of the charity. All trustees and the CEO give their time voluntarily and receive no benefits from the charity. No full time employee is engaged in the administration of the charity. The charity is assisted by members who render voluntary services to the charity.

Risk Management

The trustees have assessed the major risks to which the charity is exposed, in particular those related to operations and finances of the charity and are satisfied that the systems are in place to mitigate exposure to the major risks.

Objectives and Principal Activities

The charity's objectives and principal activity is to promote the advancement of the christian faith, the relieving the sick in the society and helping the needy. We promote and fulfil various charitable causes in Manchester

Page 2

DIVINE MERCY FELLOWSHIP REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2021

Development and Achievements in the Period

The charity's events were properly managed, executed and reviewed for its impact on members and communities. We continue to hold our Prayer meeting on Tuesdays, Bible Study on Wednesdays and Vigil on the last Friday of the month. We continue to visit Oaklodge Nursing Home to hold weekly service. Our Christian Music Concert twice a year and 3 days Prayer retreat once a year continue to impact many lives. Our charity continues to grow in Sunday morning attendance, youth and children's ministry. We minister to the physical, mental and spiritual needs of our members and new comers in our midst. We have helped relief poverty and hardship amongst both regular andirregular congregants who are suffering from financial hardship due to unemployment and lack of financial resources.

We make donations to other charities. We donate clothes to the homeless in Manchester and feed them. We also send donations to disabled children's homes in Africa.

Financial Review

The charity was able to raise a total income of £12,081 during the year under review.

Principal Funding Sources

The principal funding sources for the charity are currently by way of Donations and Gifts from congregants through and offering basket passed during Church services and through bank standing orders etc.

Investment Policy

The Charity will retain a significant amount in the savings account. The objective of the investment policy is to invest in cash at banks where the capital is protected. The charity currently has a policy of keeping any surplus liquid funds in cash at banks where immediate access and security of funds is guaranteed

Reserves Policy

It is the policy of the charity to maintain unrestricted funds which are the free reserves of the charity at a level which equates to at least 3 months of unrestricted expenditure. This provides sufficient funds to cover management and administration and support costs and to respond to emergencies which may arise from time to time.

The expenditure for 2021 was £12,084 and therefore the targeted reserves should be between £3,021 and £6,042 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. The targeted reserve was not achieved during the year under review.

Plans for Future Periods

In the near future, the charity plans to expand its operations and we will continue our drive towards providing more benefits to our community. The Charity plans continuing the activities outlined above in forthcoming year subject to satisfactory funding arrangements.

Page 3

DIVINE MERCY FELLOWSHIP REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2021

Trustees' Responsibilities

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 charitable trust as at the balance sheet date and of its incoming resources and applications of resources, including income and expenditure, for the financial year. In preparing those financial statements the Trustees should follow best practice and

continue in operation

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the financial statement comply with the Charities Act 2011. They are also responsible for the safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Statement of Disclosure of Information to the Accountants

In accordance with charity law, as trustees, we certify that:

So far as we are aware, there is no relevant information of which the company'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'.

This report has been prepared

By order of trustees:

Olatunde Olurinde Chairman Board of Trustees

2nd August, 2022

Page 4

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF DIVINE MERCY FELLOWSHIP FOR THE YEAR ENDED 30 SEPTEMBER 2021

As described on pages 2 to 5, the Trustees are responsible for the preparation of the accounts, and they consider that an audit is not required for this year (under section 144(1) of the Charities Act 2011 (The 2011 Act) and that an independent examination is needed. It is my responsibilty to:

examine the accounts (under section 145(1) of the Charity Act 2011;

follow the procedures laid down in the general Directions given by the Charity Commissioners under section 132 of the Charity Act 2011; and

state whether particular matters have come to my attention

Basis of Independent examiners statement

Our examination was carried out in accordance with general Directions given by the Charity Commissioners. 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 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 examiners statement

In connection with my examination, no matter has come to my attention:

(1) which gives us reasonable cause to believe that in any material respect the requirements:

to keep accounting records in accordance with section 130 of the Charities Act 2011; and

to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities, have not been met: or

(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

PVG Accounting Services & Consultancy Ltd 344 Moston Lane Manchester

M40 9JS

Page 5

DIVINE MERCY FELLOWSHIP

STATEMENT OFFINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 SEPTEMBER 2021

Notes Incoming resources Incoming resources from generated funds: Voluntary Income: Donations and Offerings 1 Building Fund Gift Aid Tax Reclaim Activities for generating funds: Investment Income Incoming resources from charitable activities: Grants & Contracts Total incoming resources Resources expended Cost of generating funds Costs of generating voluntary income 2 Fundraising trading: cost of goods sold Charity activities 3 Governance Costs 4 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	2021 2020 Unrestricted Restricted Total Total £ £ £ £ 12,081 - 12,081 9,585 - - - - - - - - - - - - - - - - - - - - - - - -
	12,081 - 12,081 9,585
	5,884 - 5,884 5,167 - 5,900 - 5,900 2,760 300 - 300 300
	12,084 - 12,084 8,227
	(3) - (3) 1,358
	(3) - (3) 1,358
	7,874 7,874 6,516
	7,871 - 7,871 7,874

The statement of financial activities includes all gains and losses in the year. All incoming resourcesand resources expended derive from continuing activities.

The notes on Pages 9 to 13 form part of these Accounts.

Page 6

DIVINE MERCY FELLOWSHIP BALANCE SHEET AS AT 30 SEPTEMBER 2021

Notes Fixed assets Tangible assets 8 Currents assets Cash at bank and in hand Creditors: amounts falling due 10 within one year Net Current Assets Net Assets Unrestricted funds General funds 12 Total funds	2021 £ 2,357 5,814 (300) 5514 7,871 7,871 7,871	2020 £ 3,536 4,638 (300)
		4338
		7,874
		7,874
		7,874

Approved by the Board of Trustees on the 2nd August, 2022 and signed on its behalf by:

Cynthia Ukaegbu Secretary

The notes on pages 8 to 12 form part of these financial statements.

Page 7

DIVINE MERCY FELLOWSHIP

NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021

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, as modified by the inclusion of fixed assets investments at market value, and in accordance with the Companies Act 2006 and the Statement of recommended Practice: Accounting and Reporting by Charities issued in March 2005.

(b) Fund Accounting

Unrestricted funds are available for use at the discretion of the trustees in furthermore of the general objectives of the charity. Unrestricted funds include a revaluation reserve representing the restatement of investment assets at market values.

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 cateries 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.

Page 8

DIVINE MERCY FELLOWSHIP

NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021

(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 as set out in Note 4.

Page 9

DIVINE MERCY FELLOWSHIP

NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021

1. Donations

Donations -Tithes and Offering Gift Aid Tax Reclaim Building Fund	Unrestricted Restricted 2021 2020 Total Total £ £ £ £ 12,081 - 12,081 9,585 - - - - - - - -
	12,081 - 12,081 9,585

Total Resources Expended

2. Costs of Generating Voluntary Income

Basis of Allocation Staff Costs Direct Bank Charges Direct Administration Direct Professional Fees Direct Support Costs Direct Premises Direct 3. Charitable Activities Ministry Direct 4. Governance Cost Professional Fees Direct Total Resources Expended 5. Net Incoming Resources for the Year This is stated after charging: Accountant's Remuneration	Church Work Support Cost Governance 2021 2020 £ £ £ £ £ - - - - - - - - - - - 980 - 980 785 - 300 - 300 - - 1,604 - 1,604 1,382 - 3,000 - 3,000 3,000	Church Work Support Cost Governance 2021 2020 £ £ £ £ £ - - - - - - - - - - - 980 - 980 785 - 300 - 300 - - 1,604 - 1,604 1,382 - 3,000 - 3,000 3,000	Church Work Support Cost Governance 2021 2020 £ £ £ £ £ - - - - - - - - - - - 980 - 980 785 - 300 - 300 - - 1,604 - 1,604 1,382 - 3,000 - 3,000 3,000
	- 5,884	- 5,884	5,167
	5,900 -	- 5,900	2,760
	5,900 -	- 5,900	2,760
	- -	300 300	300
	- -	300 300	300
	5,900 5,884	300 12,084	8,227
		2021 £ 300 300	2020 £ 300
			300

Page 10

DIVINE MERCY FELLOWSHIP NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021

6. Trustee Remuneration & Related Pay Transactions

No member of the Board of Trustee member including the Chief Executive/Senior Pastor received any remuneration during the period.

7. Taxation

As a charity, Divine Mercy Fellowship is exempt from tax on income and gains falling within section 505 of the Taxes Act1988 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.

8. Tangible Fixed Assets

Fixed assets are stated at cost less accumulated depreciation.

Depreciation is provided at rates calculated to write of the cost of each asset over its expected useful life, which in all cases is estimated at 4 years.

Cost At 1 October 2020 Additions in year At 30 Sept 2021 Depreciation At 1 October 2020 Charge for the year At 30 Sept 2021 Net Book Value At 30 Sept 2021 Net Book Value At 30 Sept 2020	Equipment 3,112 - 3,112 778 778 1,556 1,556 2,334	Fixtures & Fittings £ 1,603 - 1,603 401 401 802 801 1,202	2021 Total £ 4,715 -
			4,715
			1,179 1,179
			2,358
			2,357
			3,536

Page 11

DIVINE MERCY FELLOWSHIP

NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021

10. Creditors: Amounts falling due within one year

Accruals	2021 £ 300 300	2020 £ 300
		300

11. Analysis of Net Assets Between Funds

	General Designated Restricted Total Funds Funds Funds Funds £ £ £ £
Tangible Fixed Assets Investments Current Assets Current Liabilities Net Assets at 30 September 2021	2,357 - - 2,357 - - - - 5,814 - - 5,814 (300) - - (300)
	7,871 - - 7,871

12. Movements in Funds

Restricted Funds: Total Restricted Funds Unrestricted Funds: General Funds Total Unrestricted Funds Total Funds	At 1 Oct Incoming Outgoing Transfers At 30 Sept 2020 Resources Resources 2021 [Inc Gains] £ £ £ £ £ - - - - -
	- - - - -
	7,874 12,081 12,084 - 7,871
	7,874 12,081 12,084 - 7,871
	7,874 12,081 12,084 - 7,871

Page 12

DIVINE MERCY FELLOWSHIP INCOME AND EXPENDITUE ACCOUNT FOR THE YEAR ENDED 30 SEPTEMBER 2021

INCOME LESS OVERHEADS Premises Costs Rent & Rates Bank Charges Administration Printing, Postage and Stationery Media Expenses Ministry Evangelism & Publicity Events, Retreats & Conferences Hospitality & Refreshment Visiting Ministries Donation, Love Gifts & Welfare Professional Fees Audit & Accountancy Fee Professional Fee Support Costs Hotel, Travel & Motor Expenses Depreciation Sundry Expenses Surplus/(Deficit for the year) Surplus brought forward Surplus carried forward	2021 2020 £ £ £ £ £ £ 12,081 9,585 3,000 3,000 3,000 3,000 - - 110 85 870 700 980 785 800 500 3,450 500 400 315 350 400 900 1,045 5,900 2,760 300 300 300 600 300 400 180 1,179 1,179 25 23 1,604 1,382 (12,084) (8,227) (3) 1,358 7,874 6,516 7,871 7,874	2021 2020 £ £ £ £ £ £ 12,081 9,585 3,000 3,000 3,000 3,000 - - 110 85 870 700 980 785 800 500 3,450 500 400 315 350 400 900 1,045 5,900 2,760 300 300 300 600 300 400 180 1,179 1,179 25 23 1,604 1,382 (12,084) (8,227) (3) 1,358 7,874 6,516 7,871 7,874	2021 2020 £ £ £ £ £ £ 12,081 9,585 3,000 3,000 3,000 3,000 - - 110 85 870 700 980 785 800 500 3,450 500 400 315 350 400 900 1,045 5,900 2,760 300 300 300 600 300 400 180 1,179 1,179 25 23 1,604 1,382 (12,084) (8,227) (3) 1,358 7,874 6,516 7,871 7,874	2021 2020 £ £ £ £ £ £ 12,081 9,585 3,000 3,000 3,000 3,000 - - 110 85 870 700 980 785 800 500 3,450 500 400 315 350 400 900 1,045 5,900 2,760 300 300 300 600 300 400 180 1,179 1,179 25 23 1,604 1,382 (12,084) (8,227) (3) 1,358 7,874 6,516 7,871 7,874
				1,358 6,516
				7,874

This page does not form part of the statutory accounts.

Page 13