REGISTERED CHARITY NUMBER: 1026780
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
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 2023
| 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 9 |
| Detailed Statement of Financial Activities | 10 to 11 |
CELESTIAL CHURCH OF CHRIST WHITE CITY PARISH
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023
The trustees present their report with the financial statements of the charity for the year ended 31 December 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
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 A AFOLABI N AKIN-AGBENI MRS E M MORAFA MRS R AKINIYI L YEMITAN
Approved by order of the board of trustees on 1 October 2024 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
Independent examiner's report to the trustees of CELESTIAL CHURCH OF CHRIST WHITE CITY PARISH.
I report to the charity trustees on my examination of the accounts of CELESTIAL CHURCH OF CHRIST WHITE CITY PARISH (the Trust) for the year ended 31 December 2023.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
E H TURKSON ACMA 456 High Road Leyton London E10 6QE
Date: 1 OCTOBER 2024
Page 2
CELESTIAL CHURCH OF CHRIST WHITE CITY
PARISH
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023
| 2023 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 191,358 Investment Income 2 1,417 Total 192,775 EXPENDITURE ON Charitable activities CHARITABLE 138,859 NET INCOME 53,916 RECONCILIATION OF FUNDS Total funds brought forward 717,217 TOTAL FUNDS CARRIED FORWARD 771,133 |
2022 Total funds £ 128,813 265 129,078 111,945 17,133 700,084 717,217 |
|---|---|
The notes form part of these financial statements
Page 3
CELESTIAL CHURCH OF CHRIST WHITE CITY
PARISH
BALANCE SHEET 31 DECEMBER 2023
| Notes FIXED ASSETS Tangible assets 5 CURRENT ASSETS Cash at bank CREDITORS Amounts falling due within one year 6 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 8 Unrestricted funds TOTAL FUNDS |
2023 Unrestricted fund £ 600,752 172,226 (1,845) 170,381 771,133 771,133 771,133 771,133 |
2022 Total funds £ 603,900 117,709 (4,392) 113,317 717,217 717,217 717,217 717,217 |
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 1 October 2024 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 2023
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. 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 particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular 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.
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CELESTIAL CHURCH OF CHRIST WHITE CITY PARISH
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023
2. INVESTMENT INCOME
| INVESTMENT INCOME | ||
|---|---|---|
| 2023 | 2022 | |
| £ | £ | |
| Bank Interest Receivable | 1,417 | 265 |
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022.
4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |
|---|---|
| fund | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Donations and legacies | 128,813 |
| Investment income | 265 |
| Total | 129,078 |
| EXPENDITURE ON | |
| Charitable activities | |
| CHARITABLE | 111,945 |
| NET INCOME | 17,133 |
| RECONCILIATION OF FUNDS | |
| Total funds brought forward | 700,084 |
| TOTAL FUNDS CARRIED FORWARD | 717,217 |
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CELESTIAL CHURCH OF CHRIST WHITE CITY
PARISH
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023
5. TANGIBLE FIXED ASSETS
| Improvements Freehold to Plant and property property machinery £ £ £ COST At 1 January 2023 and 31 December 2023 441,984 146,175 51,051 DEPRECIATION At 1 January 2023 - - 35,470 Charge for year - - 3,116 At 31 December 2023 - - 38,586 NET BOOK VALUE At 31 December 2023 441,984 146,175 12,465 At 31 December 2022 441,984 146,175 15,581 6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Bank loans and overdrafts (see note 7) Other creditors 7. LOANS An analysis of the maturity of loans is given below: Amounts falling due within one year on demand: Bank overdrafts 8. MOVEMENT IN FUNDS At 1.1.23 £ Unrestricted funds General fund 717,217 TOTAL FUNDS 717,217 |
Motor vehicles £ 17,978 17,818 32 17,850 128 160 2023 £ 345 1,500 1,845 2023 £ 345 Net movement in funds £ 53,916 53,916 |
Totals £ 657,188 53,288 3,148 56,436 600,752 603,900 2022 £ 2,893 1,499 4,392 2022 £ 2,893 At 31.12.23 £ 771,133 771,133 |
|---|---|---|
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CELESTIAL CHURCH OF CHRIST WHITE CITY PARISH
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023
8. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 192,775 192,775 |
Resources Movement expended in funds £ £ (138,859) 53,916 (138,859) 53,916 |
|---|---|---|
Comparatives for movement in funds
| At 1.1.22 £ Unrestricted funds General fund 700,084 TOTAL FUNDS 700,084 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 129,078 TOTAL FUNDS 129,078 |
Net movement At in funds 31.12.22 £ £ 17,133 717,217 17,133 717,217 Resources Movement expended in funds £ £ (111,945) 17,133 (111,945) 17,133 |
|---|---|
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 1.1.22 £ 700,084 700,084 |
Net movement in funds £ 71,049 71,049 |
At 31.12.23 £ 771,133 771,133 |
|---|---|---|---|
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CELESTIAL CHURCH OF CHRIST WHITE CITY PARISH
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023
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:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 321,853 321,853 |
Resources Movement expended in funds £ £ (250,804) 71,049 (250,804) 71,049 |
|---|---|---|
9. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2023.
Page 9
CELESTIAL CHURCH OF CHRIST WHITE CITY PARISH
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023
| INCOME AND ENDOWMENTS Donations and legacies Donations and Collections Gift aid Investment Income Bank Interest Receivable Total incoming resources EXPENDITURE 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 Support costs Finance Bank charges Governance costs Accountancy Carried forward |
2023 £ 130,029 61,329 191,358 1,417 192,775 20,800 3,000 17,695 5,953 7,347 3,411 556 2,750 13,943 2,587 5,718 13,693 4,400 971 5,520 526 1,507 1,830 101 884 3,495 6,303 3,116 32 126,138 2,134 1,500 1,500 |
2022 £ 128,813 - 128,813 265 129,078 20,500 3,000 17,980 2,550 4,865 3,523 362 2,400 8,576 1,124 2,558 11,755 5,003 355 5,587 503 1,570 1,250 86 4,236 3,125 2,680 3,899 40 107,527 364 1,500 1,500 |
|---|---|---|
This page does not form part of the statutory financial statements
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CELESTIAL CHURCH OF CHRIST WHITE CITY PARISH
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023
| Governance costs Brought forward Legal and Professional Fees Total resources expended Net income |
2023 £ 1,500 9,087 10,587 138,859 53,916 |
2022 £ 1,500 2,554 4,054 111,945 17,133 |
|---|---|---|
This page does not form part of the statutory financial statements
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