CHERUBIM AND SERAPHIM CHURCH OF ZtON MOLE UK 44 CLARENCE MEWS HACKNEY LONDON E5 8HL REPORT AND FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2020 CHARITY NO 1003302 ZAC ADEFOWORA & CO CHARTERED CERTIFIED AccouNfANTS 19 AUCKLAND HOUSE BLOEMFONTEIN ROAD LONDON W12 7NL TEL: 020 8740 6882
CHERUBIM AND SERAPHIM CHURCH OF ZION {JMOLE) UK REPORT AND FINANCIAL sTATEMErs FOR THE PERIOD ENDED 31- DECEMBER 2020. CONTENTS CHARITY INFORMATION REPORT OF THE TRUSTEES 45 REPORT OF THE INDEPENDENT EXAMfNER STATEMENT OF FINANCIAL ACTIVITIES rNCOME AND EXPENDITURE ACCOUNTS BALANCE SHEET NOTES TO THE FINANCIAL STATEMENTS i(¥ii
CHERUBIM AND SERAPHIM CHURCH OF ZION mOLE) UK CHARITY INFORMATION FOR THE PERIOD ENDED 31 DECEMBER 2020. TRUSTEES SUPERIOR SEIYIOR APOSTLE J OLU LEGBE SUPERIOR SENIOR APOSTLE N AYO AKINTIMEHIN SUPERIOR SENIOR APOSTLE PROPHET L B OMOPE MINISTER IN CHARGE SUPERIOR SENIOR APOSTLE J OLU LEGBE PLACE OF WORSHIP 44 CLARENCE MEWS HACKNEY U>NDON E5 8HL AccouKfANTS ZAC ADEFOWORA & CO CHARTERED CERTIFIED ACCOUIYTANTS LONDON W12 7NL
CHERUBIM AND SERAPHIM CHURCH OF ZION OMOLE) UK REPORT OF THE TRUSTEES FOR THE PEIUOD EIWED 31- DECEMBER 2020. The Tne¢S of Cherubim and Seraphim Church of Zion (Imole) UK present their sr report and fmancial statements for the year ended 31 December 2020. OBJECTS OF THE CHURCH. PRNCIPAL ACTtVITIES AND ORGANISATION Th¢ principal objective of the Church shall be the advancement of the Christian religion. The main activities of the Church are as follows: To congregate and worship God tn an approved Christian matmer. To assemble for the purposes of caThying on ecclesiastical activities. To promote the knowledge and doctrines of Christianity as contsined in the Holy Scriptures. To support and subscribe to any ¢harithble institutions or pu4x)se in fiheTallce of the Church"s objectives. To promote or forni or assist in the PD)motion of ecclesiastical activities. To pay for any property, right, privileges or concessions acquired by the Church. To solemnise the Holy Wedlock of an adult man and a woman in the eles1a$tlcal matrimonial ceremony as approved by the Church Council. To accept old and young, male and female for ChrislenÈng in consecTated ceremony witliin the Church. To recommend and be accepted for ordination such members and otTicials of the chu h. To perforni fimeral services and ceremonies in an approved ecclesiastical manner for the deceased and in accordance with the laws and regulations of the Uniied Kingdom. To consecrate water and oil for the use of the congTegational member5 and other believers, and to pray for ail and bless those in need. FUTURE DEVELOPMENTS The advancement of Christianity shall continue to be the core activity of the Church. FINANCIAL REVIEW The Statement of Financial Activities shows the net surplus for the period &8 £26,395 (year to 2019. deficit (£7.918). This has been transferred to reserves. which now stands at £43.972.
CHERUBIM AND SERAPHIM CHLFRCH OF ZION OMOLE) UK (31.12. 2020) RESERVES POLICY The ReserY¢ Fund represents the Unrestrict funds arising from the operating results. The trustees ate satisfied that th¢ on-going contiibutions and donations by members and visitots will generdte sufftcient income to cover all the operating expenditure. BOARD OF TRusfEES Members of the board WIM) are trustees for the PUryK)ses of charity law, who served during the year and up to the dats of this reFM)rt are set out on page 3 TRUSTEES, RESPONSIBILITY Under the Charities Act 1993. the trustees are required to prepare a statement of accounts for each financiat year which gives a true and fair view of the state of affairs of the chartts at the end of the financial year and of the incoming resources and application of resources in the year. In preparing the statement the trustees arc required to: Select suitable accounting IK)licies and apply them consistently Make judgemenls and estimates that are reasonabl¢ and prudent State where applicable accounting andardS and ststements of recommended practice have been followed. subject to any material departures disclosed and explained in the statement of accounts Prepare the financial slatements on an on-going basis unless it is inappropriate to assume that the charity viill continue its operations. The trustees are responsible for keeping propcr accounting records which disclose with reasonable accuracy at any time the financiaE position of the charity and enable them to ensure that the financial ststements comply with the regulations under section 42(1) of the Charities Act 1993.They are also responsible for safeguarding the charity's assets and hence for taking reasonable thps for the prevention and detection of fraud and irregularities. RISK MANAG£MENT As required under the revised accountiDg and [c)rting SORP framework effective from January 2001 the Trustees of the Church have reviewed the major risks to which the organisalion is exposed. in particular those relating to the operational aie&s of the Charity and its finances. The TnteeS believe that by monitoring reserve levels. by ensuring controls exist over fllwicial systems and by examining the operaiional and business risks faced by the charity. they have established effective systems to mitigate those risks. INDEPENDENT EXAMINER Zac Adefowora & co who were the chartty s Accountants during the year have expressed their willineSS to continue in that paCIty. Approved by the Board of Tne¢S on 2Q September 2021 And signed on their behalf by Superior Senior Apostle J Olu Legbe-_ TnLStee.
CHERUBIM AND SERAPHIM CHURCH OF ZION UMOLE) UK Independent examiner's report to the trustees of Chernbim & Seraphim Chureh of Zion (Imole) I report on the accounts of the Charity for the year ended 31 December 2020, which are sel out on pages 7 to I l. Respective responsibilities of tnLStees and examiner The charity's trnleeS ate r¢snSIble for the preparation of the accounts. Th¢ charity's tSteeS consider thal an audit is not required for this year under section 43(2) of the Charities Act 1993 {the 1993 Act) and that an independenl examination is needed. It is my reswnsibility to: Examin¢ the accounts undersection 43 of the 1993 Act: To follow the procedure5 lard doum in the general Directions given by the Charity Commission under section 43{7Xb) of the 1993 ACL and To state whether particular matters havc rne to my atteniion. B*$ls of ind¢pendeDt exgmffiner's report My examination was carried out in accordance with the 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 iecords. It also includes consideration of any unusual items or disclosures in ihe accounts, and seeking explanations from you as 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 preseni a 'tsve and fair view, and the rew)rt is limited to those Matte set out in the statement below. Independent examlDer'$ ststement In connection with my examinaiion. no matter has come to my attention". (l ) Which gives me reasonable cause to believe that in any material respect the requirements: To kttp accounting records in accordw with secEion 41 of the 1993 Act" and To prq)are accounts which accord with the accounting records and comply with the accounting requirements of the 1993 Act have not IKen mel or (2) To which, in my opinion, attention should be drawn in or(kr to enable a proper understanding of the accounts to be reached. Z3c AdefOWo FCCA Zac Adefowora & co Chartered Certified Accountants London Wl 2 7NL 29 Seprember ?021.
CHERUBIM AND SERAPHIM CHURCH OF ZION UMOLE) UK STATEfvTh OF FtNANCIAL ACTIVITIES ST FOR THE PEIUOD ENDED 31 DECEMBER ?020 Notes Unrestticted Fund 2020 Restricted Fund Total Fund 2020 Totsl Fund 2019 In comin Resources Aciivities to further the Charit 's ob-eclives 104,542 104,542 65,609 Total ineomin resources 104 104 Resources Ex nded: Mana ement & Admin uisilion of Assets 78,147 78,147 73,527 Total Resources Ex nded 527 Net iD¢omin Resourcesl deficit Funds b/f for the 26.395 17,577 26,395 17,577 7.918 25,495 Funds at 31.12.2020 17 77 The notes on pages l O to I I forn] part of these financial stalements
CHERUBIM AND SERAPHIM CHURCH OF ZION (IMOLE) UK INCOME AND EXPENDITURE AccoifNT ST For the period ended 31 DECEMBER 2020. Notes 2020 2019 Income 104.542 65.609 Management & Admin 78.147 73.527 Operating surplus (deficit) 26,395 (7.918) Surplus (deficit) on ordinary activities 26,395 (7.918) sUlUs (deficit) for the financial year Retained suTrlus Brought forward 26.395 17.577 (7.918) 25,495 INED CAR]U 17377 None of the activities were acquired or discontinued during thc above two fanCIal years This statement is derived from the ststement of Financial Activities on page 7 There were no recognised gains or losses other than those shown aErf)ve.
CHERUBIM AND SERAPHIM CHURCH OF ZION OMOLE) UK BALANCE SHEEr AS AT 31 DECEMBER 2020 2020 2019 Fixed Assets Tangible Assets 118,994 125.786 cUt Assets Debtors Cash at Bank and in hand 42.730 23.969 42,730 23.969 Creditors". Amount falling due With one year Creditors and Accruals 2,509 1.772 Net curllt Assets 40221 22,197 Total Assets less current liabilities 159215 137.983 Creditors.. Amounts falling due Aftei more than l year (115,243) (120.406) Funds: Unrestricted funds General fimds 43,972 17,577 The financial statements have been prepared ill accordance with the Regulations under section 42(1) of the Charities Act 1993 Approved by the board of trustees on 15 Mah 2020 and si ned on their behalf by Superior Senior Aposde N A Akintimehio Tntee Superior6enior Apostle, Pmphet B L Omope. Trnstee The notes on pages 10 to I I forni part of these financial statements
CHERUBIM AND SERAPHIM CHURCH OF ZION (tMOLE) UK Notes forniing part of the financial statements For the period ended 31° December 2020 l Accounting Policies (a) Basis of accounting The accounts have been ptepared under the hislorical cost convention and are in accordance with applicable accountkng standards and Accounting and Reporting by Charities: Statement of Recommended Practice. (b) Cherubtm and Seraphim Church ofzion (Imole) UK has not received any grants or fundtng during the year und¢r review. (c) All income is derived from collections and donation by members of the congregation at prayer meetings. (d) Expenditure. All expenditure is included on an accrual basts and is ]EColSed when there is a legal or constructive obligation to pay for expenditu. All costs are directly attributed to the one activities of the Church. (e) Depreciation. tkpreciation is Charged to write off the cosl less estimated residual value of fixtures fittings and equipment. {fj Unrestricted funds are the income Teceived or generaied for the objects oftht dwity without funher specific purpose and are avaTlable as genernl funds (g) Management and administrative costs of the chariry rel#ie to the costs of running the charity such as ihe co$t5 of mttting5, Staiutory Compliance and in¢lude5 any costs which cannot be specifi¢ally identified to another clas5ificaiion. 2 incoming resources from activities to generate funds Unrestricted £104,542. 3 Tangible fixed assets Freehold Fixtures/ Equipment Totsl Cost blf Addition 91.825 64,838 156,663 At 31.12.2020 91,825 64.838 156,663 Depreciation Al b/f Che for the year 30,877 6,792 30.877 6.792 37.669 37.669 Net Book Value 31.12.2019 91.825 27,169 118,994 Net Book value 31.12.2018 91.825 33,961 125.786 In July 2008 the Charity acquired the freehold property at 44 Clarence Mem's by a mortgage from Barclays Bank PLC. The loan is secured on the proFW.
CHERUBIM AND SERAPHIM CHURCH OF ZION (IMOLE) UK Notes fonning part of the financial ststements For the year ended 3 1st I)ecember 2020. 2020 2019 4 Debtors 5 Creditors: Amounts failing due within One year Other creditors and aC¢nlS 2,509 1.772 2.509 1,772 5 b Creditors: Amounts falling due after lyear Bank Loan 115243 120,406 6 Net incoming resources for the year This is stated after chargin8 Depreciation Examiners, remuneration 6,792 750 8,490 650 The notes on pages 10 to i i fom) part of these financial ststements
THE CHERUBIM AND SERAPHtM CHURCH OF ZION (IMOLE) UK DETAILED PROFIT AND LOSS ACCOUNT FOR THE PEIUOD ENDED 31" DECEIIIBER 2020 2020 2019 rNCOME: Contributions Collections Thanksgiving Anniversary Celebrdtions HMRC - Gift Aid HMRC - JRS 23,022 16.359 14,501 7,201 18,376 25.083 23,686 14.198 14.775 12.950 104,542 65.609 Less EXPEN ES: Light. Heat and water Donation and gifts Accountancy and Book keeping Printing. post & stationery Repairs & renewals Entertainments Travelling expenses General expenses Deprecialion Insurance Bank Loan Interest Wages 7,838 2.005 2,500 428 5,939 1,755 783 857 6.792 1,150 5.028 43,072 9.010 1,740 650 332 27,226 1.860 886 512 8.490 5.026 16,679 Tot%1 expenses 78,147 73.527 Surplu5 1 (IJW) for the ye*r 26.395 17,918)