Registered number 1034010
CHRIST APOSTOLIC CHURCH AGBALA ITURA
Report and Accounts
31 December 2020
CHRIST APOSTOLIC CHURCH AGBALA ITURA Report and accounts Contents
| Page | |
|---|---|
| Administrative information | 1 |
| Trustee's report | 2 |
| Accountants' report | 3 |
| Statement of Financial Activities | 4 |
| Profit and loss | 5 |
| Balance sheet | 6 |
| Notes to the Financial Statements | 7 |
| (inclusive of detailed Income & Expenditure) |
CHRIST APOSTOLIC CHURCH AGBALA ITURA Company Information
Trustee
REV SAMUEL KAYODE ABIARA
REV. KOLADE ADENIYI
Accountants
Lemo Corporate 815 Old Kent road, London, SE15 1NX.
Bankers Barclays Bank PLC
Registered office
166 RYE LANE PECKHAM LONDON SE15 4NB
Registered number 1034010
1
CHRIST APOSTOLIC CHURCH AGBALA ITURA
Trustee's Report
Trustees Report for year ended 31st December 2020
The trustees present their financial statements for the year ended 31st December 2020
The principal activity of the organization continues to be:
Propagation of the GOSPEL according to the teaching of JESUS CHRIST
Statement of Trustee Responsibilities
The Trustees are required to prepare financial statements that give a true and fair view of the state of affairs of the organization and of the income and expenditure of the project for that period. In preparing these financial statements, the Trustees are required to:
-
Select suitable accounting policies and apply them consistently
-
Make judgements and estimates that are reasonable and prudent
-
State whether applicable standards and statement of recommended practice have
-
been followed, subject to any material departures disclosured and explained in
-
the statements.
-
Prepare the financial statements on the going concern basis unless it is inappropriate
-
to presume that the project will continue in operation.
The Trustees are responsible for keeping proper records that disclose at any time the financial position of the project. They are also responsible for safe guarding the assets of the organization and hence for taking reasonable steps for the prevention and detention of fraud and other irregularities.
Koladeadeniyi REV. KOLADE ADENIYI TRUSTEE
Date: 29 October 2021
2
CHRIST APOSTOLIC CHURCH AGBALA ITURA
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CHRIST APOSTOLIC CHURCH AGBALA ITURA
I report on the charity for the year ended 31 December 2020, which are set set out on pages 4 to 5.
Respective resposibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. [The charity's gross income exceeded £25,000 and I am qualified to undertake the examination by been a qualified member of Association of Chartered Certfied Accountants.
It is my responsisbility to:
. examine the accounts under section 145 of the 2011 Act;
. to follow the procedure laid down in the General Direction given by the Charity Commission under section 145(5)(b) of the 2011 Act; and;
.to state whether particular matters have come to my attention.
Basis of independent examiner's report
My examination was carried out in accordance with the General Directions given by the Charity Commision. 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 the seeking of explanations from you as trustee concerning any such matters. The procedure undertaken do not provide all the evidence that would be required in an audit and, consequetly no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below.
Independent examiner's statement
In connection with my examination, no matter has come to my attention
- which gives me reasonable cause to believe that, in any material respect, the requirements: . to keep accounting records in accordance with section 130 of the 2011 Act; and
. to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the 2011 Act have not been met.
or
- to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Adelaniawe
ADELANI AWE 29 October 2021
LEMO CORPORATE Chartered Certified Accountants 815 Old Kent Road, London, SE15 1NX
3
CHRIST APOSTOLIC CHURCH AGBALA ITURA Profit and Loss Account for the year ended 31 December 2020
| Notes Income 1 Administrative expenses Operating profit Profit on ordinary activities before taxation Tax on profit on ordinary activities Profit for the financial year |
2020 2019 £ £ 114,383 68,063 (76,501) 66,480 37,882 1,583 37,882 1,583 - 37,882 1,583 |
|---|---|
4
CHRIST APOSTOLIC CHURCH AGBALA ITURA
Statement of Financial Activities For the year ended 31 December 2019
| Income Resources Total Income Resources Resources Expended Support costs of activities in furtherance of the charity's objects Management & Administration of Charity Total Income Expended Net incoming/(outgoing) resources Net Movements in Funds Fund balances b/fwd Funds balances c/fwd |
Notes 4.2 4.3 |
Total Fund 2020 £ 114,383 46,540 29,961 76,501 37,882 37,882 241,088 278,970 |
Total Fund 2019 £ 68,063 |
|---|---|---|---|
| 31,588 34,892 |
|||
| 66,480 | |||
| 1,583 | |||
| 1,583 239,505 |
|||
| 241,088 |
5
CHRIST APOSTOLIC CHURCH AGBALA ITURA Balance Sheet
as at 31 December 2020
| Notes Fixed assets Tangible assets 3 Current assets Cash at bank and in hand 34,937 34,937 Creditors: amounts falling due within one year 6 - Net current assets Net assets Unrestricted Funds Unrestricted Funds 5 Restricted and Unrestricted Funds c/fwd. |
34,937 | 2020 £ 244,033 34,937 |
2019 £ 238,576 2,512 2512 2,512 241,088 241,088 241,088 |
|---|---|---|---|
| 34,937 - |
|||
| 278,970 | |||
| 278,970 | |||
| 278,970 |
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006 and that the member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
Koladeadeniyi
REV. KOLADE ADENIYI
Trustee
Approved by the board on 29 October 2021
6
CHRIST APOSTOLIC CHURCH AGBALA ITURA Notes to the Accounts for the year ended 31 December 2020
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
Incoming Resources
Income is mainly from grants and bank interest received are included in the financial statements when received.
Resources Expended
Taxation
As a charity, the charitable funds are exempt from corporation tax but not from VAT. Irrecoverable 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 in order to write off the assets over their estimated useful lives.
| Office equipment Motor vehicles 2 Operating profit This is stated after charging: Depreciation of owned fixed assets 3 Tangible fixed assets Motor vehicle Cost £ At 1 January 2020 10,654 Additions 0 At 31 December 2020 10,654 Depreciation At 1 January 2020 9,000 Charge for the year 476 At 31 December 2020 9,476 Net book value At 31 December 2020 1,178 At 31 December 2019 1,654 4 Debtors Other debtors 5 Unrestricted Funds At 1 January 2018 Net Incoming Fund At 31 December 2020 |
25% straight line 25% straight line Land and buildings Furniture & fittings £ £ 316,046 19,896 5,550 2,285 321,596 22,181 110,381 2,985 - 995 110,381 3,980 211,215 18,201 205,665 16,911 |
£ £ 2,378 2,378 Musical equipment Total £ £ 52,111 398,707 - 7,835 52,111 406,542 37,765 160,131 907 2,378 38,672 162,509 13,439 244,033 14,346 238,576 £ £ - - £ £ 241,088 239,505 37,882 1,583 278,970 241,088 |
|---|---|---|
7
CHRIST APOSTOLIC CHURCH AGBALA ITURA
Notes to the accounts (continued)
| 4 | Detailed Income and Expenditure Account | Detailed Income and Expenditure Account | |
|---|---|---|---|
| For the year ended 31 December 2019 | |||
| Total fund | Total fund | ||
| 2020 | 2019 | ||
| £ | £ | ||
| 4.1 | INCOMING RESOURCES | ||
| Thithes, offering and thanksgiving | 114,383 | 68,063 | |
| OUTGOING RESOURCES | |||
| 4.2 | Support costs of activities in furtherance | of | |
| the Charity's objects: | |||
| Pastoral allowances | 44,614 | 29,715 | |
| Printing, postage & stationery | 419 | 443 | |
| Evangelical/outreach materials | 1,507 | 1,430 | |
| 46,540 | 31,588 | ||
| 4.3 | Management and Administration of Charity: | ||
| Rates | 3,746 | 1,100 | |
| Travelling and subsistence | 1,584 | 1,104 | |
| Cleaning | 1,800 | 963 | |
| Light & Heat | 13,451 | 14,633 | |
| Repairs & Mentainance | 1,296 | 0 | |
| Bank Chrs | 402 | 732 | |
| Telephone | 1,539 | 2,082 | |
| Solicitors fees | - | 10,250 | |
| Insurance | 1,633 | - | |
| Equipment expensed | 2,132 | 1,650 | |
| Depreciation charge | 2,378 | 2,378 | |
| 29,961 | 34,892 | ||
| Total Expenses | 76,501 | 66,480 |
8
CHRIST APOSTOLIC CHURCH AGBALA ITURA Profit and Loss Account for the year ended 31 December 2020
for the information of the director only
| Income Cost of sales Gross profit Administrative expenses Other operating income Operating profit Profit before tax |
2020 2019 £ £ 114,383 68,063 - 114,383 (76,501) (66,480) - 37,882 1,583 37,882 1,583 |
|---|---|
9
CHRIST APOSTOLIC CHURCH AGBALA ITURA Schedule to the Profit and Loss Account for the year ended 31 December 2020
for the information of the director only
| Income Tithes, offerings & thanksgiving Administrative expenses Employee costs: Wages and salaries Members' welfare Travel and subsistence Premises costs: Rent Rates Light and heat Cleaning Security General administrative expenses: Telephone and fax & TV Licence Insurance Stationery and printing Evangelisim & Missions Donations and welfare Bank charges Events & Anniversary Depreciation Repairs & Mentainance Legal and professional costs: Solicitors fees |
2020 2019 £ £ 114,383 68,063 44,614 29,715 - - 1,584 1,104 46,198 30,819 - - 3,746 1,100 13,451 14,633 1,800 963 - - 18,997 16,696 1,539 2,082 1,633 - 419 443 1,507 1,430 - - 402 732 - - 2,378 2,378 1,296 - 11,306 8,715 - 10,250 - 10,250 76,501 66,480 |
|---|---|
10