## **CELESTIAL CHURCH OF CHRIST OKIKI IMOLE PARISH FINANCIAL STATEMENT FOR THE YEAR ENDED 31ST MARCH 2022**
**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 2022**
**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**
Venerable 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**
1 Natwest Bank Plc 80 Lewisham high Street London SE13 5JJ
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 2022**
The trustees have the pleasure of submitting their report and the financial statements for the year ended 31 March 2022
## **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:
- a) Select suitable accounting policies and apply them consistently;
- b) Make judgements and estimates that are reasonable and prudent;
- 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.
- 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 2022, 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:
1. Which gives me reasonable cause to believe that any material respect the requirements:
- to keep accounting records in accordance with section 41 of the Act, and
- to prepare accounts which accord with the accounting records and to comply with
- Have not been met: or
2. 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 2022**
|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**|**2022**
**2021**
Unrestricted
Restricted
Total
Total
£
£
£
£
20,204
25,044
45,248
43,887
10,775
10,775
8,831
-
-
-
-|
|---|---|
||**30,980**
**25,044**
**56,023**
**52,718**|
||14,268
-
14,268
11,600
13,525
21,541
35,066
38,320|
||**27,793**
**21,541**
**49,334**
**49,920**|
||3,187
3,503
6,689
2,798|
||3,187
3,503
6,689
2,798
60,215
319,149
379,364
379,364|
||**63,402**
**322,652**
**386,053**
**382,162**|
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 2022**
|**Balance sheet as at 31 March 2022**||||
|---|---|---|---|
|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|£
27,514|**2022**
£
650,000|**2021**
650,368|
||||650,368
82,177|
||||66,238
15,939|
||267,084|||
|||**653,137**
267,084|**666,307**
284,145|
|||||
|||**386,053**|**382,162**|
|||||
|||**386,053**|**382,162**|
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 2022
## **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|**2022**
**2021**
£
£
20,204
21,541
30,962
22,346
10,775
8,831|
|---|---|
||61,942
52,718|
## **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
Harvest Expenses
Transportation
Church expenditure
Pastor's Remuneration
Honorarium|**2022**
**2021**
£
£
-
-
3,000
-
-
3,500
4,268
8,100
-
-
7,000
-|
|---|---|
||**14,268**
**11,600**|
Page 6
## **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|**2022**
**2021**
£
£
-
-
12,354
13,036
-
-
499
523
-
6,432
-
-
2,323
3,191
17,000
12,154
1,391
1,500
1,000
1,000
132
113
-
-
368
370
-
-
-
-|
||**35,066**
**38,320**|
|**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|**2022**
**2021**
**£**
£
368
370|
|---|---|
## **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 2021
Surplus/(Deficit) for the year
At 31 March 2022|20% straight line
25% straight line
20% straight line
**Unrestricted**
**Restricted**
**Total**
**Funds**
**Funds**
**Funds**
**£**
**£**
**£**
60,215
319,149
379,364
3,187
3,503
6,689|
|---|---|
||63,402
322,652
386,053|
## **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**
|**Church Building**
**Motor Van**
**Musical**
**Instruments**
**Totals**
£
£
£
£
**Cost**
At 1 April 2021
650,000
17,800
1,848
669,648
Additions
-
-
-
At 31 March 2022
650,000
17,800
1,848
669,648
**Depreciation**
At 1 April 2021
-
17,800
1,480
19,280
Charge for the year
-
-
368
368
At 31 March 2022
-
17,800
1,848
19,648
**Net Book Value**
At 31 March 2022
650,000
-
-
650,000
At 31 March 2021
650,000
-
368
650,368
**8.CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
**2022**
**2021**
**£**
**£**
Accountancy Fee
1,000
1,000
Sundry Creditor
23,377
15,238
24,377
16,238|**Church Building**
**Motor Van**
**Musical**
**Instruments**
**Totals**
£
£
£
£
650,000
17,800
1,848
669,648
-
-
-|**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
-
-|1,480
19,280
368
368|
||-
17,800|1,848
19,648|
||||
||650,000
-|-
650,000|
||650,000
-|368
650,368|
|||**2022**
**2021**
**£**
**£**
1,000
1,000
23,377
15,238|
|||24,377
16,238|
Page 8