CELESTIAL CHURCH OF CHRIST (7TH YEAR PARISH) TRUSTEES' REPORT AND ACCOUNTS YEAR ENDED 29 JUNE 2024
CHARITY REGISTRATION NO: 1041376
CELESTIAL CHURCH OF CHRIST (7TH YEAR PARISH) FINANCIAL STATEMENTS YEAR ENDED 29 JUNE 2024
| CONTENTS | PAGE |
|---|---|
| LEGAL AND ADMINISTRATIVE INFORMATION | 1 |
| REPORT OF THE TRUSTEES | 2 - 3 |
| REPORT OF THE INDEPENDENT EXAMINERS | 4 |
| STATEMENTS OF FINANCIAL ACTIVITIES | 5 |
| BALANCE SHEET | 6 |
| NOTES TO THE FINANCIAL STATEMENTS | 7 - 9 |
| INCOME AND EXPENDITURE | 10 |
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CELESTIAL CHURCH OF CHRIST (7TH YEAR PARISH) LEGAL AND ADMINISTRATIVE INFORMATION YEAR ENDED 29 JUNE 2024
CHARITY REGISTRATION NUMBER: 1041376 REGISTERED OFFICE: 776A ROMFORD ROAD LONDON E12 6BU
TRUSTEES: Sola Alo Steven Adekunle Adenike Abdul, Adekunle Sule
ACCOUNTANT S&V Bond Accountants Church Accountant and Advisors The Bridge Nucleus. Brunel Way Dartford. Kent DA1 5GA
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CELESTIAL CHURCH OF CHRIST (7TH YEAR PARISH) REPORT OF THE TRUSTEES YEAR ENDED 29 JUNE 2024
The trustees present their report with the financial statements of the charity for the year ended 29 June 2024. The trustees have adopted the provisions of the Statement of Recommended Practice Charities SORP (FRS 102) second edition, published in October 2019
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.
OBJECTIVES AND ACTIVITIES
The Charity's objects are:
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The advancement of The Christian religion by diffusing religious knowledge and to promote principles of morality, benevolence and charity
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-The education of mankind in general and The co-ordination of The work of The Church in preaching
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the gospel.
The main activities in relation to these objects are:
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~ Preaching the Gospel of Jesus Christ.
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~ To advance the education of the public and in particular the community in the christian religion
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~ To provide relief from poverty
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~ Promotion of Healthy Living and Lifestyle.
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~ Supporting other charities
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~ Facilitating community cohesion
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~ Provision of Services
The Charity through the trustees seek to ensure that all grants made are in keeping with the objects as is stipulated in the Governing document and those grants are used for such purposes through monitoring and evaluation process.
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CELESTIAL CHURCH OF CHRIST (7TH YEAR PARISH) REPORT OF THE TRUSTEES YEAR ENDED 29 JUNE 2024
STATEMENT OF TRUSTEES RESPONSIBILITIES
The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed 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 incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charity SORP;
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make judgements and estimates that are reasonable and prudent;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.
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 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Going concerns
At the time of approving the accounts, the Trustees have a reasonable expectations that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus, the Trustees' continue to adopt the going concern basis of accounting in preparing the accounts.
Reserves
The Trustees believes that unrestricted funds which have not been designated for a specific use should be maintained so that in the event of a significant drop in funding, they will be able to continue the Charity's activities and are working towards achieving it.
Signed on behalf of the Board by Trustee Name:
.............................................
Date:
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CELESTIAL CHURCH OF CHRIST (7TH YEAR PARISH) REPORT OF THE INDEPENDENT EXAMINERS YEAR ENDED 29 JUNE 2024
I report on the accounts for the year ended 29 June 2024 set out on pages five to ten.
Respective responsibilities 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 required.
Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:
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examine the accounts under Section 145 of the 2011 Act
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to follow the procedures laid down in the General Directions given by the Charity Commission (under Section 145(5)(b) of the 2011 Act); and
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to state whether particular matters have come to my attention.
Basis of the independent examiner's report
My examination was carried out in accordance with the General Directions given by the Charity Commission. 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 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 statements below.
Independent examiner's statement
In connection with my examination, no matter has come to my attention:
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(1) which gives me reasonable cause to believe that, in any material respect, the requirements
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to keep accounting records in accordance with Section 386 and 387 of the Companies Act 2006; and
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to prepare accounts which accord with the accounting records, comply with the accounting requirements of Sections 394 and 395 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities
have not been met; or
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts 'to be reached.
S&V Bond Accountants Church Accountant and Advisors Brunel Way Dartford, Kent DA1 5GA Date:
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CELESTIAL CHURCH OF CHRIST (7TH YEAR PARISH) STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 29 JUNE 2024
| INCOMING RESOURCES Notes Incoming resources from generated funds Tithes & Offerings 2 Gift Aid Other income RESOURCES EXPENDED Charitable Activities 3 Support Costs 4 Governance Costs 5 TOTAL RESOURCES EXPENDED NET INCOME/EXPENDITURE FOR THE YEAR Total funds brought forward TOTAL FUND CARRIED FORWARD |
2024 2023 21,196 15,896 6,676 7,157 - 3,376 27,872 26,429 10,843 26,269 9,879 9,081 1,000 - 21,722 35,350 £6,150 (£8,921) £474 £9,395 £6,624 £474 |
|---|---|
None of the charity's activities were acquired or discontinued during the year and there were no recognised gains and losses for 2023-2024 other than those included in the statement of financial activities.
The notes on pages 7 to 10 form part of these accounts.
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CELESTIAL CHURCH OF CHRIST (7TH YEAR PARISH) BALANCE SHEET YEAR ENDED 29 JUNE 2024
| FIXED ASSETS Tangible assets CURRENT ASSETS Cash at bank and in hand CREDITORS Amounts falling due within one year (Accountancy Fee) NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS/(LIABILTIES) FUNDS: Restricted Funds Unrestricted Funds TOTAL FUNDS |
Notes 7 8 |
2024 2023 - - 7,624 474 (1,000) - 6,624 474 6,624 474 £6,624 £474 2024 2023 - - £6,624 £474 £6,624 £474 |
|---|---|---|
The financial statements were approved by the Board of Trustees and were signed on its behalf by:
Trustee Name:
….......................................................
Date
The notes on pages 7 to 10 form part of these accounts.
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CELESTIAL CHURCH OF CHRIST (7TH YEAR PARISH) NOTES TO THE ACCOUNTS YEAR ENDED 29 JUNE 2024
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 2015)', 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.
There has been no effect to the reported position as a result of the transition to FRS 102.
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.
Tithes & Offerings
Income from tithes and offerings, is included in incoming resources when these are receivable Investment Income
Investment income consists of net interest received during the year and accounted for as unrestricted fund
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.
Charitable activities
Costs of charitable activities are those costs relating to the activities carried out to meet the objectives of the Church. These include both directly attributable costs and apportioned support costs.
Governance costs
Governance costs are the costs associated with the strategic direction of the organisation and with meeting regulatory responsibilities including apportioned support cost.
Tangible fixed assets
Depreciation is provided at the following annual rates, calculated to write off the cost of each asset over its estimated useful life, where applicable
| Fixtures and Fittings | - 25% on cost |
|---|---|
| Motor Vehicles | - 25% on cost |
| Church Equipment | - 20% on cost |
Taxation
The charity is exempt from corporation 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.
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CELESTIAL CHURCH OF CHRIST (7TH YEAR PARISH) NOTES TO THE ACCOUNTS YEAR ENDED 29 JUNE 2024
| 2. VOLUNTARY INCOME Tithes & Offerings Gift Aid Other Income TOTAL INCOME 3.CHARITABLE ACTIVITIES Ministry Expenses - Hospitality & Honorarium 4. GOVERNANCE COSTS Accountancy and Advice 5. SUPPORT COSTS: MANAGEMENT TOTAL COSTS |
Unrestricted | 2024 21,196 6,676 - 27,872 10,843 £1,000 9,879 21,722 |
2023 15,896 7,157 3,376 26,429 |
2023 15,896 7,157 3,376 26,429 |
|---|---|---|---|---|
| 26,269 | ||||
| - 9,081 35,350 |
- 9,081 |
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CELESTIAL CHURCH OF CHRIST (7TH YEAR PARISH) NOTES TO THE ACCOUNTS - CONTINUED
YEAR ENDED 29 JUNE 2024
| SUPPORT COSTS: FINANCE CHARGES | 2024 | 2023 |
|---|---|---|
| Bank Charges | 24 | 14 |
| Depreciation | - | - |
| £24 | £14 |
6. SUPPORT COSTS: FINANCE CHARGES
7. STAFF COSTS
There were no salaries and wages for the year ended 29June 2024, nor for the prior year 29 June 2023 Trustees' expenses
There were no salaries and wages for the year ended 29 June 2024, nor for the prior year 29 June 2023
| 7. FIXED ASSETS COST At 30 June 2023 Additions As at 29 June 2024 8. CREDITORS : Amounts falling due within one year Other Creditors (Accountancy Fee) 9. MOVEMENTS IN FUNDS Unrestricted Funds General Fund Restricted Funds TOTAL FUNDS |
Furniture and Fixtures 0 0 0 Incoming Resources 27,872 0 £27,872 |
2024 £1,000 Resources Expended 21,722 - £21,722 |
Total 0 0 0 2023 - Movement in Funds |
Total 0 0 0 2023 - Movement in Funds |
Total |
|---|---|---|---|---|---|
| £6,150 0 £6,150 |
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CELESTIAL CHURCH OF CHRIST (7TH YEAR PARISH) INCOME AND EXPENDITURE YEAR ENDED 29 JUNE 2024
| Incoming Resources: Voluntary income: Tithes & Offerings Gift Aid Other Income Total incoming resources RESOURCES EXPENDED: Cost of generating voluntary income Charitable activities: Ministry Expenses - Hospitality & Honorarium Welfare 4. GOVERNANCE COSTS Accountancy and Advice Legal & Professional SUPPORT COSTS: MANAGEMENT Council services (LB Newham) Telephone Gas and Electric (Utilities) Internet Insurance Office & Admin Bank Charges & Interest Gift and Charitable Donations TOTAL SUPPORT COSTS Total resources expended Net expenditure |
2024 £ 21,196 6,676 - £27,872 643 9000 1200 10,843 1,000 0 1,000 655 416 3,730 1,152 2,630 375 20 900 £9,879 £21,722 £6,150 |
2023 £ 15,896 7,157 3376 26,429 22,611 0 0 22,611 0 0 0 1,080 1,604 3,174 1,550 3,645 174 14 - £11,241 |
2023 £ 15,896 7,157 3376 26,429 |
|---|---|---|---|
| 22,611 0 0 22,611 |
|||
| £33,852 | |||
| (£7,423) |