REGISTERED CHARITY NUMBER: 1026780
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 FOR
CELESTIAL CHURCH OF CHRIST WHITE CITY
PARISH
CELESTIAL CHURCH OF CHRIST WHITE CITY PARISH
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
| Page | |
|---|---|
| Report of the Trustees | 1 |
| Independent Examiner's Report | 2 |
| Statement of Financial Activities | 3 |
| Balance Sheet | 4 |
| Notes to the Financial Statements | 5 to 8 |
| Detailed Statement of Financial Activities | 9 to 10 |
CELESTIAL CHURCH OF CHRIST WHITE CITY
PARISH
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020
The trustees present their report with the financial statements of the charity for the year ended 31 December 2020. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities' issued in March 2005.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number
1026780
Principal address
P O BOX 1125 BARKING ESSEX 1G11 7HR
Trustees
M A ONAFUYE
R KING
A. AFOLABI
MRS E M MORAFA MRS R AKINIYI L YEMITAN
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes an unincorporated charity.
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
Approved by order of the board of trustees on 2 November 2021 and signed on its behalf by:
A A AFOLABI - Trustee
Page 1
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CELESTIAL CHURCH OF CHRIST WHITE CITY PARISH
I report on the accounts for the year ended 31 December 2020, which are set out on pages three to eight.
Responsibilities and basis of report
As the charity's trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I have examined your charity's accounts as required under section 145 of the Charities Act 2011 ('the Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
My role is to state whether any material matters have come to my attention giving me cause to believe:
-
that accounting records were not kept as required by section 130 of the Act; or
-
that the accounts do not accord with those records; or
-
that the accounts do not comply with the accounting requirements of the Act; or
-
that there is further information needed for a proper understanding of the accounts.
Independent examiner's statement
I have completed my examination and have no concerns in respect of the matters (1) to (4) listed above and, in connection with following the Directions of the Charity Commission I have found no matters that require drawing to your attention.
E H TURKSON ACMA Hesse Armah Accountants 456 High Road Leyton London E10 6QE
Date: 2 NOVEMBER 2021
Page 2
CELESTIAL CHURCH OF CHRIST WHITE CITY
PARISH
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020
| 2020 | 2019 | ||
|---|---|---|---|
| Unrestricted | Total funds | ||
| fund | |||
| Notes | £ | £ | |
| INCOMING RESOURCES | |||
| Incoming resources from generated funds | |||
| Voluntary income | 164,275 | 173,702 | |
| Investment income | 2 | 101 | 91 |
| Total incoming resources | 164,376 | 173,793 | |
| RESOURCES EXPENDED | |||
| Charitable activities | |||
| CHARITABLE | 85,648 | 95,577 | |
| Governance costs | 6,956 | 5,748 | |
| Total resources expended | 92,604 | 101,325 | |
| NET INCOMING RESOURCES | 71,772 | 72,468 | |
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | 592,059 | 519,591 | |
| TOTAL FUNDS CARRIED FORWARD | 663,831 | 592,059 |
The notes form part of these financial statements
Page 3
CELESTIAL CHURCH OF CHRIST WHITE CITY
PARISH
BALANCE SHEET AT 31 DECEMBER 2020
| 2020 | 2019 | ||
|---|---|---|---|
| Unrestricted | Total funds | ||
| fund | |||
| Notes | £ | £ | |
| FIXED ASSETS | |||
| Tangible assets | 5 | 612,759 | 590,015 |
| CURRENT ASSETS | |||
| Cash at bank | 67,494 | 73,283 | |
| CREDITORS | |||
| Amounts falling due within one year | 6 | (4,401) | (4,402) |
| NET CURRENT ASSETS | 63,093 | 68,881 | |
| TOTAL ASSETS LESS CURRENT | |||
| LIABILITIES | 675,852 | 658,896 | |
| CREDITORS | |||
| Amounts falling due after more than one year | 7 | (12,021) | (66,837) |
| NET ASSETS | 663,831 | 592,059 | |
| FUNDS | 8 | ||
| Unrestricted funds | 663,831 | 592,059 | |
| TOTAL FUNDS | 663,831 | 592,059 |
The financial statements were approved by the Board of Trustees on 2 November 2021 and were signed on its behalf by:
M A ONAFUYE -Trustee
The notes form part of these financial statements
Page 4
CELESTIAL CHURCH OF CHRIST WHITE CITY
PARISH
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
1. ACCOUNTING POLICIES
Accounting convention
The financial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), the Charities Act 2011 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities.
Incoming resources
All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
Resources expended
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance Motor vehicles - 20% on reducing balance
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Pension costs and other post-retirement benefits
The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
2. INVESTMENT INCOME
| 2020 | 2019 | |
|---|---|---|
| £ | £ | |
| Bank Interest Receivable | 101 | 91 |
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2020 nor for the year ended 31 December 2019.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2020 nor for the year ended 31 December 2019.
Page 5
CELESTIAL CHURCH OF CHRIST WHITE CITY
PARISH
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2020
4. STAFF COSTS
| Wages and salaries Other pension costs |
2020 £ 8,576 3,000 11,576 |
2019 £ 6,600 3,000 9,600 |
|---|---|---|
5. TANGIBLE FIXED ASSETS
| Freehold property Improvements to property Plant and machinery Motor vehicles £ £ £ £ COST At 1 January 2020 441,984 146,175 27,936 17,978 Additions - - 23,115 - At 31 December 2020 441,984 146,175 51,051 17,978 DEPRECIATION At 1 January 2020 - - 26,393 17,665 Charge for year - - 308 63 At 31 December 2020 - - 26,701 17,728 NET BOOK VALUE At 31 December 2020 441,984 146,175 24,350 250 At 31 December 2019 441,984 146,175 1,543 313 6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2020 £ Bank loans and overdrafts 3,001 Other creditors 1,400 4,401 7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 2020 £ Bank loans 12,021 |
Totals £ 634,073 23,115 657,188 44,058 371 44,429 612,759 590,015 2019 £ 3,001 1,401 4,402 2019 £ 66,837 |
|---|---|
Page 6
CELESTIAL CHURCH OF CHRIST WHITE CITY
PARISH
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2020
8. MOVEMENT IN FUNDS
| Net movement | |||
|---|---|---|---|
| At 1.1.20 | in funds | At 31.12.20 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 592,059 | 71,772 | 663,831 |
| TOTAL FUNDS | 592,059 | 71,772 | 663,831 |
| Net movement in funds, included in the above are as follows: | |||
| Incoming | Resources | Movement in | |
| resources | expended | funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 164,376 | (92,604) | 71,772 |
| TOTAL FUNDS | 164,376 | (92,604) | 71,772 |
| Comparatives for movement in funds | |||
| Net movement | |||
| At 1.1.19 | in funds | At 31.12.19 | |
| £ | £ | £ | |
| Unrestricted Funds | |||
| General fund | 519,591 | 72,468 | 592,059 |
| TOTAL FUNDS | 519,591 | 72,468 | 592,059 |
| Comparative net movement in funds, included in the above are as follows: | |||
| Incoming | Resources | Movement in | |
| resources | expended | funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 173,793 | (101,325) | 72,468 |
| TOTAL FUNDS | 173,793 | (101,325) | 72,468 |
| A current year 12 months and prior year 12 months combined position is as follows: | |||
| Net movement | |||
| At 1.1.19 | in funds | At 31.12.20 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 519,591 | 144,240 | 663,831 |
| TOTAL FUNDS | 519,591 | 144,240 | 663,831 |
Page 7
CELESTIAL CHURCH OF CHRIST WHITE CITY
PARISH
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2020
8. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement in | |
|---|---|---|---|
| resources | expended | funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 338,169 | (193,929) | 144,240 |
| TOTAL FUNDS | 338,169 | (193,929) | 144,240 |
Page 8
CELESTIAL CHURCH OF CHRIST WHITE CITY
PARISH
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020
| INCOMING RESOURCES Voluntary income Donations and Collections Gift aid Grants Investment income Bank Interest Receivable Total incoming resources RESOURCES EXPENDED Charitable activities Wages Pensions Rates and water Insurance Light and heat Telephone Postage and stationery Pastoral Fund Contribution Missions and Donations Sundry Equipment Spiritual Items Functions and Events Travel and Transport Subscriptions Building Repairs Cleaning Security Visiting Pastors Sundry Expenses Repairs and Renewals Choir Expenses Welfare Plant and machinery Motor vehicles Bank interest Governance costs Accountancy Legal and Professional fees |
2020 £ 161,822 - 2,453 164,275 101 164,376 8,576 3,000 17,256 2,266 4,725 3,472 265 2,500 9,161 882 2,449 9,150 5,015 384 4,853 306 742 1,420 75 4,532 1,474 1,000 308 63 1,227 85,101 1,400 5,556 6,956 |
2019 £ 135,524 38,178 - 173,702 91 173,793 6,600 3,000 15,883 2,510 5,353 2,885 326 7,290 12,529 412 5,072 10,879 4,643 1,166 3,552 326 1,141 3,530 121 2,141 1,599 - 386 78 2,215 93,637 1,400 4,348 5,748 |
|---|---|---|
Support costs
This page does not form part of the statutory financial statements
Page 9
CELESTIAL CHURCH OF CHRIST WHITE CITY
PARISH
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020
| Finance Bank charges Total resources expended Net income |
2020 £ 547 92,604 71,772 |
2019 £ 1,940 101,325 72,468 |
|---|---|---|
This page does not form part of the statutory financial statements
Page 10