EMMANUE CHUR THE ECEM Page l of 12
THE HOLY EMMANUEL CHURCH OF CHRIST CONTENTS Pages Administrative Information Trustees, annual report Independent Examiner's report Statement of Financial Activities Statement of Financial Position Notes to the Financial Statements Ilnclusive of detailed income and expenditure) Page 2 of 12
THE HOLY EMMANUEL CHURCH OY CHftT Administrative information Chairperson Rev Dr Francis Olusegun Olaniran Other Trustees Mr Olatubosur) Olanir3n Mr Michael Olaniran Rev Dr Francis Olusegun Olaniran Ms Aderewaju Modupe Adebare Mr Olawale Felix Olaniran Mr Moses Adeshina Odubabajo Charity Registered Number 1015969 Registered Off ice 25 Mantley Close London United Kingdom SW16 SAR Independent Examiner Profad Qua lity Investments Ltd Unit 3&5, 1 Bethwin Road Camberwell London 5E5 OSH Tel: 0207 639 0839 Bank Santander Bank Page 3 of 12
THE HOLY EMMANUEL CHURCH OF CHRIST Trustees Report for the year ended 31st of December 2024 Trustees present their financial statements for the year ended 31st December 2024 The Trustees of the HOLY EMMANUEL CHURCH OF CHRIST present their report and financial statements for the year ended 31st December 2024. The trustees have adopted the provision of the Statement of Recommended Practice ISORPI 'Accounting and Reporting by Charities" issued on October 2000 in preparing the annual report and financia I statement of the charity. Charity Details A list of na mes and addresses of the charities principal officers and bankers is set out on page 3 Objectives The charities, principal activity is the proclamation of the gospel of Jesus Christ l To advance the Christian doctrine { in accordance with the statement of our belief ) in such part of the United Kingdom or the world as the trustees from time to time think fit, 2 To relieve sickness and financial hardiship and to promote and preserve good health by the provision of funds, good or services of any kind, including through the provision of counselling and support in such parts of the United Kingdom or the world as the trustees from time to time may think fit,'and 3 To advance education in such ways and in such parts of the United Kingdom or the world as the trustee from time to time may think fit; 4 The trustee must use the income and may use the capital of the church in promoting the objects. Organisation THE HOLY EMMANUELCHURCH OF CHRIST is governed by a board of trustees who are elected to serve the church and run its affairs. Annually the Board reviews the range of skills it has available and uses its power of co-option to ensure the gaps are filled. Risk and Internal Control The Trustees review the main operational risks and actions to manage or mitigate it accord ingly. Page 4 of 12
THE HOLY EMMANUEL CHURCH OF CH LST Review of transactions and financial position Income Resources The total income of the organisation for the year has been derived from its principal activities wholly undertaken in the United Kigdom. During the year, donation, income resources and gift received totalled £28.723. The donations and gifts received have been made available without restriction as to its usage. The balance on the charity's fund are unrestricted. These will be used to fund the charity's objectives during the new financial year. The Trustees confirmed that the charity's assets are available and adequate to enable it to fulfil its obligations. Reserve Policy Freely available reserves are a pool of unapplied resources available to meet future demands on the charity's resources. This is generally purpose money that can be spent on any of the purposes of the charity. Free reserves of the charity are represented by its unrestricted funds less the net book value of its assets. As at 31st December 2024, these amounted to £24,274. Statement of Trustees, responsibilities: Law applicable to charities in England and Wales requires the trustees to prapare financial statements for each financial year which give a true and fair view of the charity's financial activities during the year and of its financial position at the end of the year. In preparing those financial statements, the trustees are require to: a) Select suitable accounting policies and apply them consistently- b) make judgement and estimates that are responsible and prudent; cl state whether applicable accountintg standards and statements of recommended practice have been followed , subject to many departures disclosed and explained in the financial statement,. d} prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue on that basis. The Trustees are responsible for ensuring that proper books are maintained, for safe guiding the assets of the charity, and taking reasonable steps for the prevention and detection of fraud and other irregularities The board has reviewed the effectiveness of the system of internal control and there are no material weaknesses that would resulted in losses, contigencies and uncertainties that require a separate disclosure inthese accounts. Rev Dr Francis Olusegun Olaniran (Chairperson, Holy Emmanuel Church of Christ) Page 5 of 12
THE HOLY UIMKNUEL CHURCH OF CHRIST Independent Examinerfs Report. We report on the accounts for the year ended 31st December 2024, which are set out on pages 8-12 Respective responsibilities of trustees and examiner The charity's trustees are responsible for the preparation of the account . It is our responsibility to,. Examine the account lunder section 43{3llal of the 1993 Act) To follow the procedures laid down in the general directions given by the commissionerslunder section 43(7llb) of the 1993 Act) Basis of the independent examinels report My examination wa5 carried out in accordance with the General Directions given by the charity. An examination includes a review of the accounting record5 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 you a5 trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit. and consequently I do not expre55 an audit opinion on the view given by the accounts. Independent examinerfs statement In connection with my examination, no matter has come to my attention: l. Which gives me reasonable cause to believe that in any material respect the requirements? To keep accounting records in accordance with section 41 of the 1993 Act and To prepare accounts which accord with the accounting records and comply with the accounting requirements of the 1993 Art 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. Date 01/10/202 Omotoyosi Onifade Profad Quality Investments Ltd Unit 3&5 1 Bethwin Road Camberwell London SE5 OSH Page 6 of 12
THE HOLY EMMANUEL CHURCH OF CHRIST s[ATE[ OF FINANCIAL ACTIVrriES FOR THE YEAR £N.EI£D TO 31sr DECEMBER 2024 Unrestricted Funds 2024 Notes 2023 Income Resources Tithes, Offering and Thanksgiving 28.723.43 29,741.28 Total Income Resources 28,723.43 29,741.28 Resources Expended Costs of activities in furtherances of charity'5 objectives Management & Administration of charity 21.025.53 3,899.00 27.387.57 3,990.52 Total Income Expended 24,924.53 31,378.09 Net Income loutgoingl resources Net Movement in Fund Unrestricted Fund balance BIF 3.798.90 11.636.811 23.791.45 25,428.26 Unrestricted Fund balances C/F 27,590.35 23,791.45
THE HOLY EMMANUEL CHURCH OF CHRIST STAT£M£NT OF FINANCIAL POStfioN AS AT 31sr DECEMBER 2024 Notes 2024 2023 FIXED ASSETS Tangible A55ets 3,216.71 3,966.56 CURRENT ASSETS Building Fund Debtors Cash at Bank/in Hand 18,475.02 6,648.62 25,123.64 19,432.28 2,844.07 22,276.35 CREDITORS Amounts due within one year 750.00 750.00 NET CURRENT ASSETS 24,373.64 21,526.35 TOTAL ASSETS LESS CURRENT LIABILITIES 27.590.35 25,492.91 CREDITORS Amount due after one year 1,701.46 TOTAL ASSETS 27,590.35 23,791.45 Charity Funds Unrestricted General Fund5 b/f Net Income for the year Total Funds 23,791.45 3,798.90 27,590.35 25,428.26 11,636.811 23,791.45
THE HOLY EMMANUEL CHU CH OF CHRIST NOTES TO THE ACCOUNTS For the year ended 31st December 2024. l). Accounting Policies Basis of preparation The accounts have been prepared under the historical c05t convention and in accordance with the financial Reporting Standard Entities (effective April 2008}. Incoming Resources Incomes are mainly from grant5 and sundry incomes received and included in the financial statement when received. This incoming resources represents money incomes for the reporting period. Resources Expended All expenditures are accounted for on accrual basis and have been classified under headings that aggregate all costs related to the category. The charity expenditures representes the amount expended by the church in the current reporting period ended 31st December 2024. Taxation As a charity, the charitable funds are exempt from corporation tax but not from VAT. Recoverable VAT is in accordance with standard accounting practice, included in the cost of those items to which it relates. Depreciation Depreciation has been provided at the following rates on a reducing balance method. Equipment Church Offices , Fixtures and Fitting Furnitures & computer Motor Vehicle 25% 250A 25Q 25% 2). Operating Profit 2024 2023 This is stated after charging- Depreciation of owned fixed assets 1,072.24 1,322.19
THE HOLY EMMANUEL CHURCH OF CHRIST 3). Tangible fixed assets Fixtures & Equipment Fittings Furniture Total Cost/NBV As at Istjanuary 2024 Addition during the year Di5poa151 written off 1.392.86 322.38 984.38 1,589.33 3.966.57 322.38 At 31st December 2024 1.715.24 984.38 1,589.33 4,288.95 Depreciation As at 1st of January 2024 Depreciation charge for year Disp05al/written off 6,908.70 428.81 765.63 246.10 4,549.31 397.33 12,223.64 1.072.24 At 315t December 2024 7,337.51 1,011.73 4,946.64 13,295.88 Net book value At 31st December 2024 1,286.43 738.29 1,192.00 3,216.71 2024 2023 Trade debtors 4). Creditors Amount falling due within one year Other creditors- Accountancy fees 750.00 750.00 750.00 750.00 5). Unrestrirted Funds Unrestricted Funds brought forward Unrestricted Funds for the period As at 31st December 2024131st December 2023 io
TH£ HOLY EMMANUEL CHURCH OF CHRIST 6). Detailed Income and Expenditure Account For the year to 31st December 2024 Unrestricted Restrirted Total Fund 6.1). Income and Resources Incoming from offering, tithes, building and other 28,273.43 28,273.43 Gift Aid Total Incoming Resources 28,273.43 28,273.43 OUTGOINGS 6.2). Costs of activities in furtherance of the charities objects: Church Rent Religious ativities incuding anoiting oil services Food/Drink Charitable donation and gifts Anniversary Music and entertainment Christmas Party Special Programmes 7,200.00 1,759.00 1,725.45 3,140.00 1,750.00 2.000.00 1.950.00 1,501.08 21,025.53 7,200.00 1,759.00 1.725.45 3.140.00 1,750.00 2,000.00 1,950.00 1,501.08 21,025.53 6.3). Management and Administration of Charity: Depreciation Stationery Telephone Waste management Postage Lighting and heating Accounting fee Repairs and Renewals Professional and Consultancies fees Transportation 1,072.24 350.00 274.72 1,072.24 350.00 274.72 250.00 250.00 750.00 750.00 1,202.04 3,899.00 1.202.04 3,899.00 li
THE HOLY EMMANUEL CHURCH OF CHRIST 7). Cash & Bank Balances Cash at bank Cash at hand 2,048.62 4,600.00 6,648.62 81. Church Assets Schedule Church E ui Equipment ment 2024 2023 1,875.15 1,286.43 1,286.43 1,875.15 Fixtures and Fittin Fixtures & Fittings 738.29 1,312.50 738.29 1,312.50 Furnitures Furnitures 1.192.00 2,119.10 1,192.00 2,119.10 12