2022-02-28-accounts - Celestial Church Of Christ, West London Parish

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CELESTIAL CHURCH OF CHRIST(WEST LONDON) FINANCIAL STATEMENT FOR THE YEAR ENDED 28 FEBRUARY 2022

CONTENTS 1. CHARITY INFORMATION 2. ACCOUNTANTS’ REPORT 3. REPORT OF THE TRUSTEES 4. BALANCE SHEET 5. INCOME AND EXPENDITURE ACCOUNT 6. NOTES TO THE ACCOUNTS	PAGES
	1 2 3-4 5 6 7-9

CELESTIAL CHURCH OF CHRIST(WEST LONDON) CHARITY INFORMATION FOR THE YEAR ENDED 28 FEBRUARY 2022

CHARITY NUMBER: 1023139

REGISTERED OFFICE: Streatham Manor Hall 3 Station Approach London – SW16 6HW

BANKERS

NatWest Bank Metro Bank

ACCOUNTANTS:

Colinson and Company Ltd. Accountants & Tax Consultants 210 Church Road, Room 113 Regent 88 Offices Leyton, London E10 7JQ

Page 1

ACCOUNTANTS’ REPORT TO THE TRUSTEES OF CELESTIAL CHURCH OF CHRIST WEST LONDON FOR THE YEAR ENDED 28 FEBRUARY 2022

We have examined the financial statements on pages 5 to 9 which have been prepared under the accounting policies set out on page 4 for the year ended 28 February 2022.

Respective responsibilities of Trustees and Examiner

The Trustees are responsible for the preparation of accounts, and they consider that an audit is not required for this year (under section 43(2) of the Charities Act 1993 (the 1993 Act) and that an independent examination is needed.

It is our responsibility to

Examine the accounts (under section 43(3)(a) of the 1993 Act);
To follow the procedures laid down in the General Directions given by the Charity Commissioners (under section 43(7)(b) of the 1993 Act); and
To state whether particular matters have come to my attention.

Basis of Opinion

We conducted our examination in accordance with the 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 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 we do not express an audit opinion on the view given by the accounts.

Opinion

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

(a) which gives me reasonable cause to believe that in any material respect the requirements
to keep accounting records in accordance with section 41of the 1993Act;
and
to prepare accounts which accord with the accounting records and comply
with the accounting requirements of the 1993 Act. have not been met: or
(b) to which, in my opinion , attention should be drawn in order to enable a proper understanding of the accounts to be reached.

COLINSON AND COMPANY LTD 210 CHURCH ROAD, ROOM 113 ACCOUNTANTS & TAX REGENT 88 OFFICES, LEYTON CONSULTANTS LONDON – E10 7JQ

DATE ..............................…............ Page 2

CELESTIAL CHURCH OF CHRIST WEST LONDON REPORT OF THE TRUSTEES FOR THE YEAR ENDED 28 FEBRUARY 2022

The Trustees present their report along with the financial statements of the charity for the year ended 28 February 2022. The financial statements have been prepared in accordance with the accounting policies set out on page 4 and comply with the charity’s trust deed and applicable below.

Constitution and objects

The Celestial Church of Christ (Southwest London) is constituted under a trust deed and is a registered charity number 1023139.

The objects of the charity are worshipping of God, spreading the word and preaching the Gospel of Christ and the life after. To contribute to the health and educational needs of the community. Counselling Single Pervert, sick and vulnerable people.

Organisation

The trustees who have served during the year and since the year end are set out below:-

Rev. Ebenezer Benjamin Fadoju Mr. Kola Adetunji Mrs. Comfort Ogunnaike Mrs Fadeke Orimolade Mr Adetola Odekanmi Mr Akanbi Zaccheaus

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 approximately six months unrestricted expenditure. This provides sufficient funds to cover management and administration and support costs and to respond to emergency applications for grants which arise from time to time. Unrestricted funds were maintained at this level throughout the year.

Risk Management

The Trustees have examined the major strategic, business and operational risks which the charity faces and confirm that systems have been established to enable regular reports to be produced so that the necessary steps can be taken to lessen these risks.

Page 3

CELESTIAL CHURCH OF CHRIST WEST LONDON REPORT OF THE TRUSTEES (CONTD.) FOR THE YEAR ENDED 28 FEBRUARY 2022

Trustees’ responsibilities in relation to the financial statements

Law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year, which gives 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 required to: -

Select suitable accounting policies and then apply them consistently;
Make judgements and estimates that are reasonable and prudent;
State whether applicable accounting standards and statements of recommended practice have been followed subject to any departures disclosed and explained in the financial statements; and
Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.

The trustees are responsible for keeping accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 1993. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by the trustees and signed on their behalf by:

………………………………................................SIGN..............................................

Date ………………………….

Page 4

CELESTIAL CHURCH OF CHRIST (WEST LONDON) STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 28 FEBRUARY 2022

Unrestricted Notes Funds £ INCOME Incoming resources from donation (2) 76,705 Other incoming resources NIL TOTAL INCOMING RESOURCES 76,705 RESOURCES EXPENDED (3) Costs of generating funds Missionary and Charitable giving (3a) 100 Activities directly relating to the (3b) 37,836 work of the church Church management and administration (3c) 7,223 TOTAL RESOURCES EXPENDED 45,159 NET INCOMING/(OUTGOING) RESOURCES 31,546 GAINS AND LOSSES ON INVESTMENTS NIL NET MOVEMENT IN FUNDS 31,546 ACCUMULATED FUNDS B/F 40,518 ACCUMULATED FUNDS C/F 72,064	Unrestricted	Unrestricted	Restricted Funds £ NIL NIL NIL NIL NIL NIL NIL NIL NIL NIL NIL NIL	Restricted Funds £ NIL NIL NIL NIL NIL NIL NIL NIL NIL NIL NIL NIL	Endowment Funds £ NIL NIL NIL NIL NIL NIL NIL NIL NIL NIL NIL NIL	Endowment Funds £ NIL NIL NIL NIL NIL NIL NIL NIL NIL NIL NIL NIL	2022 £ 76,705 NIL 76,705 100 37,836 7,223 45,159 31,546 NIL 31,546 40,518 72,064 Total	Total	Funds
		Funds							2021 £ 42,116 NIL 42,116
		£ 76,705 NIL 76,705
		100 37,836 7,223 45,159							1,000 18,335 7,052 26,387
		31,546							15,729
		NIL 31,546 40,518							NIL 15,729 24,789
		72,064							40,518

Page 5

CELESTIAL CHURCH OF CHRIST (WEST LONDON) BALANCE SHEET AS AT 28 FEBRUARY 2022

Unrestricted	Unrestricted	Funds
2022 £ 4,166 0 658 55031 27114 5226 0 50,197 31,546	2021 £ 3,331 0 730 28035 23327 5226 0 34,468 15,729	£ 55,423 (5,226)
		50,197
		50,197

APPROVED BY THE BOARD OF TRUSTEES ON ……………………………………………........

AND SIGNED ON THEIR BEHALF BY ………………………………………………………..........

Signed ……………………………………………….

The notes on pages 7 to 9 form part of these financial statements.

Page 6

CELESTIAL CHURCH OF CHRIST (WEST LONDON)

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 28 FEBRUARY 2022

1 ACCOUNTING POLICIES

a. The accounts are prepared under the historical cost convention with the exception of investments which are stated at market value. They comply with the requirements of Statement of Recommended Practice 'Accounting Charities' ('SORP') and are in accordance with applicable accounting standards.
b. General accumulated funds are unrestricted funds available to the church for its general purposes and include funds designated by the Church for a particular purpose; the use of such designated funds remains at the discretion of the Church's Trustees.
c. There is no Restricted Fund at the moment.
d. The governance, management and administration expenses reported in note 3 relate to the whole of the Church's activities and a proportion of these charges are allocated to expenditure headings on a basis consistent with the use of the resources.
e. Investments are stated at market value. It is the Church's policy to keep valuations up to date such that when investments are sold there is no gain or loss arising to previous years.
f. Tangible assets are included at cost and depreciation is provided on a straight line basis, in order to write off the assets over their useful lives.
g. All expenditure is accounted for on an Accrual Basis. The depreciation rates are as follows:Musical Equipment 10% Equipment, Furniture & Fittings 10% Computer and Accessories 10%

2

INCOMING RESOURCES Offering Tithes & Appeal Thanksgiving and Harvest Building Fund Other Income (Donation) Imeko GiftAid Repayment TOTAL INCOMING RESOURCES	Unrestricted	Unrestricted	Restricted Funds £ NIL NIL NIL NIL NIL NIL NIL NIL	Restricted Funds £ NIL NIL NIL NIL NIL NIL NIL NIL	Endowment	Endowment
		Funds				Funds
		£ 13,334 32,070 6,178 7,704 7,522 2,070 7,827 76,705

Page 7

CELESTIAL CHURCH OF CHRIST (WEST LONDON) NOTES TO THE FINANCIAL STATEMENTS (CONTD.) FOR THE YEAR ENDED 28 FEBRUARY 2022

Unrestricted	Unrestricted	Endowment Total	2021 £ 1,000 1,000 16,053 1,008 NIL NIL 424 850 18,335	2021 £ 1,000
Funds		Funds £ NIL NIL NIL NIL NIL NIL NIL NIL NIL NIL NIL NIL NIL NIL

				1,000
6,473 750 0 7,223 45,159	6,473 750 0 7,223		6,302 750 0 7,052 26,387	6,302 750 0 7,052

Page 8

CELESTIAL CHURCH OF CHRIST (WEST LONDON) NOTES TO THE FINANCIAL STATEMENTS (CONTD.) FOR THE YEAR ENDED 28 FEBRUARY 2022

2022

2021

----- Start of picture text -----
£ £ £ £
4 BANK BALANCES
NATWEST BANK - Account no 50613979 55,031 28,035
METRO BANK - Account no 11537316 27,114 23,327
82145 51362
5 CREDITORS AND ACCRUALS
Creditors and Accruals 5226 5226
Bank Overdraft 0 0
5226 5226
----- End of picture text -----

6 FIXED ASSET

Cost Additions: Dep B/F Charge for the year NBV at 2022 NBV at 2021	Equipment Furniture Fittings £ 2,400 0 2,400 2,400 0 2,400 0 0	Equipment Furniture Fittings £ 2,400 0 2,400 2,400 0 2,400 0 0	Equipment Furniture Fittings £ 2,400 0 2,400 2,400 0 2,400 0 0	Musical Instrument £ 7,709 2,000 9,709 4,958 971 5,929 3,780 2,751	Computer&	Computer&	Computer&
						Accessories
							£ 1,938 0 1,938

							1,358 194 1,552
							386 580

7 FUNDS

Unrestricted funds comprise those funds which the trustees are free to use in accordance with the charitable objectives.

This is an incorporated charity, constituted by trust deed. It's principal objective is spreading the word and preaching the Gospel of Christ and the life after life and to contribute to the health and educational needs of the community. It has unrestricted funds. It prepares its accounts in accordance with the Companies Act 2006 and SORP.

Page 9