CHRIST'S DISCIPLES MISSION INTERNATIONAL
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
Registered Charity No. 1003536
Charity No. 1003536
CHRIST'S DISCIPLES MISSION INTERNATIONAL
Legal and Administrative information
Trustees
Mr Afolarin Abiona Mr Peter Olaniran Mr Kola Olanrewaju Mr Olayemi Onigbode Mrs Joy Oyesanya
General Superintendent
Reverend, Dr. Olufemi Odubonojo
Principal Office
Keir Hardie MC, Fife Road, Canning Town, London E16 1PA
Independent Examiners
Greenwich Business Services 30 Eden Way, London E3 2JD
Bankers
Barclays Bank PLC 93 Lewisham High Street, SE13 6BB
Lloyds TSB Bank Southampton Row, London WC1B 5HR
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Charity No. 1003536
CHRIST'S DISCIPLES MISSION INTERNATIONAL
Report of the Trustees for the year ended 31 December 2023
The trustees present their report along with the financial statements of the charity for the year ended 31 December 2023. The financial statements have been prepared in accordance with the accounting policies set out on pages 6 and 7 and comply with the charity’s trust deed and applicable law.
History
The Charity was established under a deed of trust on 7th June 1991 and is registered with the Charity Commission, No. 1003536.
Constitution and Objects
The object of the Charity is the advancement of the Christian faith by Evangelism and Teaching throughout the UK and elsewhere. We are committed to enabling as many people as possible to worship with us and have an international presence.
When planning our activities for the year, the incumbent and CDMI have considered the Commission’s guidance on public benefit and, in particular, the specific guidance on charities for the advancement of religion. In particular, we try to enable people to live out their faith as part of our community through:
Worship and prayer, learning about the Gospel, and developing their knowledge and trust in Jesus. Provision of pastoral care for members and the community. Missionary and evangelism work
Youth and children teaching, care and outreach work.
Management and Governance Arrangements
The trustees who have served during the year and since the year-end are set out on page 1. Trustees are appointed by the board of trustees and serve for five years, after which period they may put themselves forward for reappointment. The trustees meet twice a year, but there are subgroups, which include specialist co-optees, and which meet more frequently to assess the objectives and goals of the Charity. The Charity is managed by the trustees, who are involved on a daily basis with the affairs of the charity.
Operations
The Trustees and the Pastors ensure that the unadulterated word of God is preached to the local community and the world at large. The Charity has nine ministries: Teaching, Publicity and protocol, Evangelism, Prayer, Music, Hospitality, Ushering, Children and Youth. There are five pastors supported by volunteers who assist in the propagation of the Gospel and the smooth running of the Charity.
During the period, public meetings were organised, and these meetings were addressed by renowned men and women of God from all over the world. The meetings touched the lives of those who attended.
Financial Review
The Charity depends on the Tithes, Offerings and Gifts of the members of the Church to help pay the costs of running the Charity.
Reserves Policy
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Charity No. 1003536
CHRIST'S DISCIPLES MISSION INTERNATIONAL
Our policy is to maintain a balance on unrestricted funds (if possible), which equates to at least three months of unrestricted payments, equivalent to £22,750, which will provide adequate working capital for running the charity. After designations, the balance of £ 77,163 of unrestricted funds at the year's end exceeded this target.
Volunteers
The charity relies on the support of volunteers for all its activities, and the trustees have established controls to ensure that all relevant laws and regulations are abided by. We would like to thank all the volunteers who work so hard to make the charity and church the lively and vibrant community it is. We currently have 65 volunteers who helped achieve our goals and objectives in 2023.
Achievements and Performance
General Conferences Held
In the year under review, the church held an Annual Convention celebrating 34 years of existence and What Praises Can Do events, both of which were successful.
Branches
We operate from three branches located around London and Greater London. We have two branches outside the United Kingdom, in the United States of America and Ghana.
Women Conference
The women’s ministry arm of the church (Daughters of Zion) continues to thrive. We held an Annual Conference in July 2023, which was well attended.
Community Outreach
We operate various community events via Zoom and in areas where we have branches. These are outreach events for empowerment.
Foreign Missions
We were involved in foreign missions in Ghana, Maryland, Atlanta, South Africa and Nigeria.
Bible Studies
We run a weekly bible study using the Precept Upon Precept training manuals via online platforms.
Ministries
Currently, due to the individual clusters, some of the ministries are not very active due to their numbers. However, we still have the main ministries, which are ushering, music, publicity, finance, administration, pastoral, mission, and prayer, currently active to carry out the primary and secondary functions of the church.
Financial Review
The financial statements of this report set out the statement of financial activities for the period. The Church has operated and continues to meet at various locations during the week and at weekends.
In the year ended December 2023, income was £ 16,3875 compared with £159,852 in the previous year. A fall of % compared to the previous year, included an income is the sum of £12,256 received as gift aid from HMRC. We encourage all those who support the work of the charity to continue to give so that we can meet our objectives.
-----------------------------------Mr Afolarin Abiona 28[th] October 2024 On behalf of the Trustees
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Charity No. 1003536
CHRIST'S DISCIPLES MISSION INTERNATIONAL
Independent Examiner's Report to the Trustees of Christ's Disciples Mission International
We report on the accounts of the Church for the year ended 31 December 2023, which are set out on pages 4 to 11.
Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is required.
It is my responsibility to:
examine the accounts under section 145 of the Charities Act,
to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act, and
to state whether particular matters have come to my attention.
Basis of independent examiner's report
Our examination was carried out in accordance with 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 records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from the 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 present a ‘true and fair’ view, and the report is limited to those matters set out in the statement below.
Independent examiner's statement
In connection with my examination, no matter has come to my attention:
- which gives me reasonable cause to believe that in, any material respect, the requirements:
to keep accounting records in accordance with section 130 of the Charities Act; and
to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the Charities Act have not been met; or
- to which, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Greenwich Business Services 30 Eden Way London E3 2JD
30[th] October 2024
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Charity No. 1003536
CHRIST'S DISCIPLES MISSION INTERNATIONAL
Financial Statements for the Year Ended 31 December 2023
| Unrestricted | Restricted | 2023 | 2022 | |
|---|---|---|---|---|
| Funds | Funds | |||
| £ | £ | £ | £ | |
| Incoming Resources | ||||
| Incoming Resources from Generating Funds | ||||
| Voluntary Income | 9,340 | - | 9,340 | - |
| Income Resources from Charitable Activities | 151,619 | - | 151,619 | 137,811 |
| Other Incoming Resources | 12,256 | - | 12,256 | 22.041 |
| Total Incoming Resources | 173,215 | - | 173,215 | 159,852 |
| Costs of Generating Funds | ||||
| Costs of generating voluntary income | - | - | - | - |
| Fundraising trading costs | - | - | - | - |
| Investment management costs | - | - | - | - |
| Charitable activities | (181,119) | (965) | (182,084) | (142,667) |
| Governance costs | (750) | - | (750) | (750) |
| Other Resources Expended | - | - | - | (11,904) |
| Total Resources Expended | (181,869) | (965) | (182,834) | (155,321) |
| Net income for the year | (8,654) | (965) | (9,619) | 4,531 |
| Total funds brought forward | 85,817 | 149,059 | 234,876 | 230,345 |
| Funds balances carried forward | 77,163 | 148,094 | 225,257 | 234,876 |
On behalf of the Trustees
. --------------------------- Mr Afolarin Abiona 28[th] October 2024
--------------------------- Mr Afolarin Abiona
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Charity No. 1003536
CHRIST'S DISCIPLES MISSION INTERNATIONAL
Accounting Statement – Balance Sheet: As At 31 December 2023
| 2023 | 2022 | ||
|---|---|---|---|
| £ | £ | ||
| Notes | |||
| Fixed Assets | |||
| Musical Equipment | 10,210 | 10,130 | |
| Media Equipment | 6,847 | 7.144 | |
| Office Furniture | 7,939 | - | |
| Office Equipment | - | - | |
| 2 | 24,996 | 17,274 | |
| Current Assets | 3 | 200,261 | 228,047 |
| Current Liabilities | 4 | - | (10,445) |
| Net Current Assets | 299,261 | 217,602 | |
| Long Term Liabilities | - | - | |
| Net Assets Less Current Liabilities | 225,257 | 234,876 | |
| Funds of the Charity | |||
| Unrestricted Funds | 77,163 | 85,817 | |
| Restricted Funds | 148,094 | 149.059 | |
| Total Funds | 225,257 | 234,876 |
The notes at pages 8 to 11 form part of these accounts.
On Behalf of the Trustees
- ------------------------------- Mr Afolarin Abiona 28 October 2024
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Charity No. 1003536
CHRIST'S DISCIPLES MISSION INTERNATIONAL
Notes to the Accounts for the year ended 31 December 2023
1. Accounting Policies
These accounts have been prepared in accordance with the Financial Reporting Standard for Smaller Entities (FRSSE) and the Charities SORP.
Change in Basis
There has been no change to the valuation rules and methods of accounting since last year.
Changes to previous accounts
No changes have been made to accounts for previous years.
Trustees
No remuneration or other benefits were paid to the charity’s trustees, or people connected with them, from the charity or any company connected with it.
Expenditure
No amount was paid for the independent examiner’s remuneration. The examiner provided a “no fee” service due to the organisation's charitable status.
Paid Employees
2023 2022 Total emoluments of employees (remuneration + benefits for tax purposes) 57,847 35,750 Average number of employees in the year 3 1
Tangible fixed assets and depreciation
Depreciation is provided on the Musical and Office Equipment, Office Furniture and the Motor Vehicle on a straight-line basis at the following rates based on the estimated useful life of these assets and their residual value: -
Musical Equipment 15% p.a. Office Furniture 10% p.a. Office Equipment 15% p.a. Media Equipment 15% p.a.
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CHRIST'S DISCIPLES MISSION INTERNATIONAL
2. Fixed Assets
| Cost: 01/01/2023 Additions/Disposals 31/12/2023 Depreciation: For The Year |
Musical Equipment Office Equipment Media Equipment Total £ £ £ £ 10,130 - 7,144 17,274 1,600 9,340 775 11,715 |
|---|---|
| 11,730 9,340 7,919 28,989 1,520 1,401 1,072 3,993 10,210 7,939 6,847 24,996 |
3. Current Assets
| Cash at Bank: Current Account Savings Account Sundry Debtors |
2023 £ 16,461 148,094 168,033 35,706 200,261 |
2022 £ 12,962 149.059 162,021 66,026 |
|---|---|---|
| 228,047 |
Note: Balance of £149,059 in the savings account is held towards deposit for a property
4. Current Liabilities
| Sundry Creditor Payroll Liabilities |
2023 £ - (-) (-) |
2022 £ - (10,445) |
|---|---|---|
(10,445) |
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Charity No. 1003536
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Declarations to the Accounts for the year ended 31 December 2023
Adequacy of assets to meet fund restrictions
Sufficient resources are held in an appropriate form to enable each fund to be applied in accordance with the restrictions imposed.
Change in year end
The length of the charity’s financial year end date did not change during the year.
Designated funds
The charity does not have material designated funds.
Ex-gratia payments
The charity did not make any material ex-gratia payments during the year.
Inter-fund loans
There were no material inter-fund loans outstanding at the balance sheet date.
Large investments
No investment forms more than 5% by value of the total portfolio.
Quoted investments
The Charity did not invest in Quoted Investments during the year.
Revaluations
The charity’s functional fixed assets have been revalued during the year. The accounts have reflected this change to show the current replacement cost of the assets in their current condition.
Summary income and expenditure account
The trustees consider that there is no need to prepare a separate summary income and expenditure account.
Trustee Investments Act
If the requirements of the Trustee Investments Act 1961 apply to the charity, those requirements have been complied with.
Uncapitalised fixed assets
The charity has no material uncapitalised fixed assets.
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Accounting Policies for the year ended 31 December 2023
Cash donations and gifts
These are included in the Statement of Financial Activities (SOFA) when
-
The charity is told it is to receive the gift or donation;
-
The trustees are reasonably certain of the amount to be received;
-
The trustees are reasonably certain they will receive the money; and any conditions for receipt are met.
Cash from fund-raising
This is reported gross in the SOFA.
Gifts in kind for sale or distribution
These are included in the accounts as gifts only when sold or distributed by the charity.
Gifts in kind for use by the charity
These are included in the SOFA as incoming resources when receivable.
Intangible income (e.g. donated facilities)
This is only included in incoming resources (with an equivalent amount in expenditure) if the charity would have had to purchase the resources and the amount is material.
Legacies
The Charity has no legacies bestowed on it.
Tax reclaims
These are accrued in the SOFA.
Valuation of gifts in kind
Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised.
Voluntary help
Voluntary help is not included in the accounts but is described in the trustees’ annual report.
Donated assets
These are capitalised at a reasonable value on receipt and depreciated.
Investment property valuation
There are no investment properties.
Investment assets (not properties)
There are no investment assets.
Quoted stocks and shares
There are no quoted investments.
Tangible fixed assets for use by charity
These are capitalised if they can be used for more than one year, and cost at least £250. They are valued at cost or a reasonable value on receipt.
Investment income
There are no investment income, except bank interest.
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