CELESTIAL CHURCH OF CHRIST OKIKI IMOLE PARISH FINANCIAL STATEMENT FOR THE YEAR ENDED 31ST MARCH 2021
EMMANUEL STEPHENS & CO. CHARTERED ACCOUNTANTS, BUSINESS ADVISERS & CONSULTANTS 62 BEECHWOOD ROAD, LONDON E8 3DY
CELESTIAL CHURCH OF CHRIST OKIKI IMOLE PARISH Report and Accounts for the period ended 31 MARCH 2021
CHARITY REGISTRATION NUMBER IN ENGLAND AND WALES 1036577
CELESTIAL CHURCH OF CHRIST OKIKI IMOLE PARISH Reports and Accounts
| CONTENTS | |
|---|---|
| Charity Information | 1 |
| Trustees annual report | 2 |
| Accountant's Report | 3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 |
| Notes to Accounts | 6-8 |
CELESTIAL CHURCH OF CHRIST OKIKI IMOLE PARISH Charity Information
Minister in Charge
Superior Evangelist Prophet Doctor G Ola Gbadebo
Trustees
Mrs Sotinwa Mr Donald Idowu Mr Tayo Mebude Mr Sunmola Balogun
Charity Registration No:
1036577
Principal Location
149 Benhill Road Camberwell London SE5 7LZ
Bankers
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1 Natwest Bank Plc 80 Lewisham high Street London SE13 5JJ
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2 Metro Bank One Southampton Row London WC1B 5HA
Accountants
Emmanuel Stephens & Co 62 Beechwood Road London E8 3DY
Page 1
CELESTIAL CHURCH OF CHRIST OKIKI IMOLE PARISH
TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2021
The trustees have the pleasure of submitting their report and the financial statements for the year ended 31 March 2021
Review of Financial Position
Please refer to the annexed accounts for the details of the financial statements for the year ended 31 March 2021.
Reserves Policy
The trustees would like to work towards a situation whereby the charity could maintain unrestricted funds at a level which equates to approximately three months of unrestricted expenditure.
Trustees' Responsibilities in Relation to the Financial Statements
The Charities Act requires the Trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charity and of the surplus or deficit of the charity for that period. In preparing these financial statements, the trustees are required to:
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a) Select suitable accounting policies and apply them consistently;
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b) Make judgements and estimates that are reasonable and prudent;
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c) State whether applicable accounting standards and statements of recommended practice have been followed, subject to any departures disclosed and explained in the financial statements.
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d) Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The Trustees are responsible for keeping proper accounting records, which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act. They are also responsible for safeguarding the assets of the charity and hence for taking any reasonable steps for the prevention and detection of fraud and other irregularities.
Approval
This report was approved by the Board of Trustees and signed on their behalf by:
Signature:
Name:
Date:
page 2
CELESTIAL CHURCH OF CHRIST OKIKI IMOLE PARISH
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CELESTIAL CHURCH OF CHRIST OKIKI IMOLE PARISH
I report on the projected accounts of the Trust for the year ended 31 March 2021, which are set out on pages 4 to 8.
RESPECTIVE RESPONSIBILITIES OF THE TRUSTEES AND EXAMINER
As the Charity's Trustees, you are responsible for the preparation of the Account: you consider that the audit requirement of section 43(2) of the Charities Act 1993 ("the Act") does not apply. It is my responsibility to state, on the basis of procedures specified in the General Directions given by the Charity Commissioners under section 43(7) of the Act, 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 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 I do not express an audit opinion on the view given by the Accounts.
INDEPENDENT EXAMINER'S STATEMENT
In connection with my examination, no matter has come to my attention:
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Which gives me reasonable cause to believe that any material respect the requirements:
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to keep accounting records in accordance with section 41 of the Act, and
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to prepare accounts which accord with the accounting records and to comply with
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Have not been met: or
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To which, in my opinion, attention be drawn to enable a proper understanding of the accounts to be reached.
Emmanuel Stephens & Co.
Chartered Accountants, Business Advisers & Consultants 62 Beechwood Road London E8 3DY
Page 3
CELESTIAL CHURCH OF CHRIST OKIKI IMOLE PARISH Statement of Financial Activities for the period ended 31 March 2021
| Notes Incoming Resources Incoming resources from generated funds: Voluntary income:donations 1a Gift Aid Receivable Activities in furtherance of the charity 1b objects Total Incoming Resources Resources Expended Charitable activities: Direct Charitable Expenditure 2 Governance costs: Management & Administration 3 Total Resources expended Net Incoming/(Outgoing) Resources for the year Net Movement in Funds 4 Accumulated Fund at 1st April |
2021 2020 Unrestricted Restricted Total Total £ £ £ £ 22,346 21,541 43,887 43,729 8,831 8,831 14,196 - - - - |
|---|---|
| 31,177 21,541 52,718 57,925 |
|
| 11,600 - 11,600 10,618 16,779 21,541 38,320 36,764 |
|
| 28,379 21,541 49,920 47,382 |
|
| 2,798 (0) 2,798 10,543 |
|
| 2,798 (0) 2,798 10,543 60,215 319,149 379,364 368,821 |
|
| 63,013 319,149 382,162 379,364 |
All disclosures relate to the continuing operations. There are no recognised gains or losses other than those disclosed above.
Page 4
CELESTIAL CHURCH OF CHRIST OKIKI IMOLE PARISH Balance sheet as at 31 March 2021
| Balance sheet as at 31 March 2021 | |||
|---|---|---|---|
| Notes FIXED ASSETS Tangible Fixed Assets 7 CURRENT ASSETS Debtors Cash in Hand/ Bank CURRENT LIABILITIES 8 NET CURRENT ASSETS LONG TERM LIABILITIES Amount falling due more than a year NET ASSETS TOTAL FUNDS 6 Amount falling due within a year |
£ 82,177 |
2021 £ 650,368 |
2020 650,738 |
| 650,738 45,356 |
|||
| 16,238 29,118 |
|||
| 284,145 | |||
| 666,307 284,145 |
679,856 300,493 |
||
| 382,162 | 379,363 | ||
| 382,162 | 379,363 |
Approved by the Trustees and Signed on their behalf: Signature: Name: Date:
Page 5
CELESTIAL CHURCH OF CHRIST OKIKI IMOLE PARISH Notes to the Financial statements for the year ended 31 March 2021
ACCOUNTING POLICIES
The accounts have been prepared under the historical cost convention and in accordance with the Statement of Recommended Practice - Accounting and Reporting by Charities (SORP 2005) issued in December 2005 and applicable accounting policies in the preparation of the financial statements are as follows.
1. INCOMING RESOURCES
These are recognised in full in the Statement of Financial Activities in the period in which they are received. Included are income from tithes, offerings and interest received during the year from investments and accounted for as unrestricted-funds.
| 1a. Voluntary Income: Donations Tithes & Offerings Building Funds Other Charitable Income - Gift Aid |
2021 2020 £ £ 21,541 43,729 22,346 14,196 8,831 |
|---|---|
| 52,718 57,925 |
2. DIRECT CHARITABLE EXPENDITURE
This comprises all expenditure directly related to the objects of the of the charity. It also includes the expenditure in support of that activity where material.
| Donations Spiritual Materials Transportation Church expenditure Pastor's Remuneration Honorarium |
2021 2020 £ £ - 1,150 - 948 3,500 1,020 8,100 2,850 - - - 4,650 |
|---|---|
| 11,600 10,618 |
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3. MANAGEMENT AND ADMINISTRATION
| MENT AND ADMINISTRATION | |
|---|---|
| Volunteer expenses Rent & Rates/ Mortgage Interest Refuse Disposal Telephone & fax & internet Light & Heat Printing, postage & stationery Insurance Repairs & renewals Legal & professional fees Accountancy fees Bank charges & interest General expenses Depreciation Sundries Motor Vehicle expenses |
2021 2020 £ £ - - 13,036 15,785 - - 523 466 6,432 6,432 - 1,080 3,191 2,274 12,154 5,721 1,500 333 1,000 1,000 113 103 - - 370 3,570 - - - - |
| 38,320 36,764 |
| 4. NET MOVEMENT IN FUNDS FOR THE YEAR The net movement in funds for the year is stated after charging Depreciation of tangible fixed assets |
2021 2020 £ £ 370 3,570 |
|---|---|
5.DEPRECIATION
Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
| Musical Instruments Motor Van Fixtures & Fitting 6. FUNDS At 1 April 2020 Surplus/(Deficit) for the year At 31 March 2021 |
20% straight line 25% straight line 20% straight line Unrestricted Restricted Total Funds Funds Funds £ £ £ 60,215 319,149 379,364 2,798 0 2,798 |
|---|---|
| 63,013 319,149 382,162 |
6.1 UNRESTRICTED FUNDS
These are grants and donations received or receivable for the objects of the charity without restrictions as to purpose but are available as general funds.
6.2 RESTRICTED FUNDS
Restricted funds are used for the purpose as specified by the donor. Expenditure that meets these criteria is identified to the fund.
Page 7
7. FIXED ASSETS
| Cost At 1 April 2020 Additions At 31 March 2021 Depreciation At 1 April 2020 Charge for the year At 31 March 2021 Net Book Value At 31 March 2021 At 31 March 2020 |
Church Building Motor Van Musical Instruments Totals £ £ £ £ 650,000 17,800 1,848 669,648 - - - |
|---|---|
| 650,000 17,800 1,848 669,648 |
|
| - 17,800 1,110 18,910 - - 370 370 |
|
| - 17,800 1,480 19,280 |
|
| 650,000 - 368 650,368 |
|
| 650,000 - 738 650,738 |
| 8.CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Accountancy Fee Sundry Creditor |
2021 2020 £ £ 1,000 1,000 65,238 15,238 |
|---|---|
| 66,238 16,238 |
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