2024-02-29-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 2024

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 2024

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 2024

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 2024.

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 2024

The Trustees present their report along with the financial statements of the charity for the year ended 28 February 2024. 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 Mrs 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 2024

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 2024

Notes	Unrestricted Funds £ 90 139 NIL 90 139 400 33 786 23 011 57 197 32 942 NIL 32 942	Restricted	Restricted	90 90	Total Funds	Total Funds
		Funds			59 59	2023
(2) (3) (3a) (3b) (3c)			£ NIL NIL			£ 256 NIL 256
			NIL
	33 23		NIL NIL NIL	33 23 57	1 41 12	340 298 885
	57		NIL		55	523
	32		NIL	32	3 3	733
	32		NIL	32		NIL 733
			NIL

ACCUMULATED FUNDS B/F ACCUMULATED FUNDS C/F

85 476 NIL NIL 118 418 NIL NIL	85 476 118 418	81 743
		85 476

Page 5

CELESTIAL CHURCH OF CHRIST (WEST LONDON) BALANCE SHEET AS AT 28 FEBRUARY 2024

FIXED ASSETS Tangible Assets CURRENT ASSETS Debtors & Prepayments Cash Bank 1 - NATWEST Bank 2 (Deposit Building Account) - METRO BAN	Notes 6 4 4	2024 £ £ 5 545 200 889 65 397 51 703 123 734 Unrestricted Funds	2023 £ £ 5 712 3 000 0 47 463 34 617 90 792 Unrestricted Funds	2023 £ £ 5 712 3 000 0 47 463 34 617 90 792 Unrestricted Funds
		5 65 51		2023 £ £ 712 000 0 463 617 90 792

----- Start of picture text -----
CURRENT LIABILITIES
Creditors and Accruals 5 5316 5316
Bank Overdraft 0 0
(5 316) (5 316)
118 418 85 476
UNRESTRICTED FUNDS
Capital Fund:
Accumulated Funds b/f 85 476 81 743
Excess Income/(Deficits) 32 942 3 733
118 418 85 476
APPROVED BY THE BOARD OF TRUSTEES ON ……………………………………………........
AND SIGNED ON THEIR BEHALF BY ………………………………………………………..........
----- End of picture text -----

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 2024

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%

INCOMING RESOURCES Offering Tithes & Appeal Thanksgiving and Harvest Building Fund Other Income (Donation) Imeko GiftAid Repayment TOTAL INCOMING RESOURCES	Unrestricted Funds £ 7 854 37 576 6 030 17 086 7 017 1 771 12 805 90 139	Restricted	Restricted	Endowment	Endowment	Total Funds 2024 £ 7 854 37 576 6 030 17 086 7 017 1 771 12 805 90 139	Total Funds 2024 £ 7 854 37 576 6 030 17 086 7 017 1 771 12 805 90 139	8 28 5 7 7 1 59	2023
			Funds		Funds		7 37 6 17 7 1 12 90
			£ NIL NIL NIL NIL NIL NIL NIL NIL		£ NIL NIL NIL NIL NIL NIL NIL NIL				£ 917 842 537 518 001 441 0 256

Page 7

CELESTIAL CHURCH OF CHRIST (WEST LONDON) NOTES TO THE FINANCIAL STATEMENTS (CONTD.) FOR THE YEAR ENDED 28 FEBRUARY 2024

Restricted	Endowment Total Funds Funds 2024 £ £ NIL 400 NIL 400	1	2023
Funds	Funds £ NIL NIL
£ NIL NIL			£ 340
		1	340

3b.

3b. Activities directly relating to the work of the Church Church - running expenses Church maintenance Harvest Upkeep of Churchyard Evangelism Welfare/Bazaar 3c. Church management and administration Administration & Depreciation Professional Fee Bank Charges for year TOTAL RESOURCES EXPENDED	23 514 NIL NIL 3 765 NIL NIL 3 225 NIL NIL NIL NIL NIL 882 NIL NIL 2 400 NIL NIL 33 786 NIL NIL 22 171 NIL NIL 840 NIL NIL 0 NIL NIL 23 011 NIL NIL 57 197 NIL NIL	23 514 3 765 3 225 NIL 882 2 400 33 786 22 171 840 0 23 011 57 197	22 684 2 673 7 317 NIL 4 022 4 602 41 298
			12 030 840 15 12 885
			55 523

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