Charity number: 1048030
LESTIAL CHURCH OF CHRIST COVENANT OF GOD PARISH
PORT AND FINANCIAL ACCOUNTS FOR THE YEAR ENDED 31/05/2024
CELESTIAL CHURCH OF CHRIST COVENANT OF GOD PARISH
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31/05/2024
TRUSTEES
FREDRICK OKUYEMI
JOHN OMOGBAI OLA SHOKUNBI VICTOR AMOS-LAWANSON JOHN MAFORIKAN DANIEL NWANEGBU
CHARITY NUMBER 1048030
page 1
CELESTIAL CHURCH OF CHRIST COVENANT OF GOD PARISH
ACCOUNTS
FOR THE YEAR ENDED 31/05/2024
| CONTENTS | |
|---|---|
| Page | |
| Reportof theTrustees | 3 |
| Independent Examiner'sStatement | 4 |
| Statement of Financial Activities | 6 |
| BalanceSheet | 7 |
| Notes to theAccounts | 8 to 13 |
| Detailed Statement of Financial Activities | 12 |
page 2
CELESTIAL CHURCH OF CHRIST COVENANT OF GOD PARISH
FOR THE YEAR ENDED 31/05/2024
TRUSTEES' REPORT
The trustees present their report and accounts for the year ended 31/05/2024
PRINCIPAL ACTIVITIES
The principal activity of the charity in the year under review was that of a church.
STRUCTURE GOVERNANCE AND MANAGEMENT
The organisation is governed by a constitution and managed by a Parochial Committee who act as the trustees of the charity.
This report was approved by the Board of Trustees on 26/02/2025
FREDRICK OKUYEMI Trustee
page 3
CELESTIAL CHURCH OF CHRIST COVENANT OF GOD PARISH
INDEPENDENT EXAMINER'S STATEMENT
FOR THE YEAR ENDED 31/05/2024
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CELESTIAL CHURCH OF CHRIST COVENANT OF GOD PARISH
I report on the accounts of the company for the year ended 31/05/2024.
RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER
The trustees are responsible for the preparation of the accounts. The 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.
Having satisfied myself that the charity is not subject to an audit under company law and is eligible for independent examination, it is my responsibility to:
-
examine the accounts under section 145 of the 2011 Act;
-
follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
-
state whether particular matters have come to my attention.
BASIS OF INDEPENDENT EXAMINERS STATEMENT
My examination was carried out in accordance with 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 statement below.
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CELESTIAL CHURCH OF CHRIST COVENANT OF GOD PARISH
INDEPENDENT EXAMINER'S STATEMENT
FOR THE YEAR ENDED 31/05/2024
INDEPENDENT EXAMINERS STATEMENT
In connection with my examination, no matter has come to my attention:
(1) which gives me reasonable cause to believe that in any material respect the requirements:
-
to keep accounting records in accordance with section 386 of the Companies Act 2006; and
-
to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 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
...................................................
Date: 13/03/2025
E H TURKSON ACMA HESSE ARMAH ACCOUNTANTS
page 5
CELESTIAL CHURCH OF CHRIST COVENANT OF GOD PARIS
Statement of Financial Activities for the year ended 31/05/2024
| Income Incomefrom generated funds Incomefrom charitable activities TotalIncome and endowments Expenses Costsof generating funds Expenditureon Charitable activities TotalExpenses Net gains on investments NetIncome Gains/(losses) onrevaluation of fixed assets Netmovementinfunds: Net income fortheyear Total fundsbrought forward Net funds carriedforward |
Unrestricted funds £ 176,166 176,166 183,644 183,644 (7,478) (7,478) 1,567,609 1,560,131 |
Restricted funds £ 3,791 3,791 - - 3,791 3,791 139,674 143,465 |
2024 Total £ 179,957 179,957 183,644 183,644 (3,687) (3,687) 1,707,283 1,703,596 |
2023 Total £ 188,835 |
|---|---|---|---|---|
| 188,835 | ||||
| 151,266 | ||||
| 151,266 | ||||
| 37,569 | ||||
| 37,569 1,669,714 |
||||
| 1,707,283 |
This statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities
page 6
CELESTIAL CHURCH OF CHRIST COVENANT OF GOD PARISH
| BALANCE SHEET AT 31/05/2024 FIXED ASSETS Tangible assets CURRENTASSETS Debtors (amountsfalling due within one year) Cashat bank and in hand CREDITORS: Amountsfalling duewithin oneyear NET CURRENTASSETS TOTALASSETSLESS CURRENT LIABILITIES Notes 3 4 5 CREDITORS: Amountsfalling due after more than oneyear 6 NETASSETS CAPITALANDRESERVES Unrestricted funds General fund Restricted funds 8 9 |
- 21,551 21,551 19,018 |
2024 £ 1,723,684 2,533 1,726,217 22,621 1,703,596 1,560,131 143,465 1,703,596 |
1,000 45,197 46,197 12,760 |
2023 £ 1,726,869 33,437 |
|---|---|---|---|---|
| 1,760,306 53,023 |
||||
| 1,707,283 | ||||
| 1,567,609 139,674 |
||||
| 1,707,283 |
Approved by the board of tr ustees on 13/03/2025 and signed on their behalf by
.............................
FREDRICK OKUYEMI Trustee
page 7
CELESTIAL CHURCH OF CHRIST COVENANT OF GOD PARISH
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31/05/2024
1. ACCOUNTING POLICIES
1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with FRS102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities.
1b. Incoming R esour ces
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.
1c. R esour ces 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.
1d. Allocation And Apportionment Of C osts
All costs relate to the single activity of the charitable company and are recognised accordingly.
1e. 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.
Designated funds are funds set aside by the trustees out of unrestricted general funds for the specific future purposes or projects.
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CELESTIAL CHURCH OF CHRIST COVENANT OF GOD PARISH
1f. Depreciation Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives. Plant and Machinery reducing balance 10% Fixtures and Fittings reducing balance 10% Equipment reducing balance 10% Motor Cars reducing balance 10%
- EMPLOYEES
| 2024 | 2023 | |
|---|---|---|
| No. | No. | |
| Averagenumberofemployees | 1 |
3. TANGIBLE FIXED ASSETS
| Cost At 01/06/2023 At 31/05/2024 Depreciation At 01/06/2023 For the year At 31/05/2024 NetBookAmounts At 31/05/2024 At 31/05/2023 |
Land And Buildings £ 1,695,020 1,695,020 - - - ~~1,695,020~~ 1695020 |
Plant and Machinery £ 62,455 62,455 49,193 1,326 50,519 ~~11,936~~ 13262 |
Fixtures and Fittings £ 39,877 39,877 22,866 1,701 24,567 ~~15,310~~ 17011 |
Equipment £ 20,333 20,333 18,888 145 19,033 ~~1,300~~ 1445 |
Motor Cars £ 32,568 32,568 32,437 13 32,450 ~~118~~ 131 |
Total £ 1,850,253 |
|---|---|---|---|---|---|---|
| 1850253 | ||||||
| ,, 123,384 3185 |
||||||
| , 126569 |
||||||
| , ~~1,723,684~~ |
||||||
1726869 |
page 9
CELESTIAL CHURCH OF CHRIST COVENANT OF GOD PARISH
| 4.DEBTORS Amountsfalling due within one year: Otherdebtors 5. CREDITORS: AMOUNTS FALLINGDUE WITHIN ONE YEAR Bankloans and overdrafts Othercreditors 6. CREDITORS: AMOUNTS FALLINGDUEAFTER MORE THAN ONE YEAR Bankloans and overdrafts |
2024 £ - - 2024 £ 18,268 750 19,018 2024 £ 22,621 22,621 |
2023 £ 1,000 |
|---|---|---|
| 1,000 | ||
| 2023 £ 12,010 750 |
||
| 12,760 | ||
| 2023 £ 53,023 |
||
| 53,023 |
page 10
CELESTIAL CHURCH OF CHRIST COVENANT OF GOD PARISH
- UNRESTRICTED FUNDS
| General fund | Brought forward £ 1,567,609 1,567,609 |
Incoming resources £ 176,165 176,165 |
Outgoing resources £ (183,643) (183,643) |
Transfers £ - - |
Carried forward £ 1,560,131 |
|---|---|---|---|---|---|
| 1,560,131 |
- RESTRICTED FUNDS
| Brought forward £ 139,674 139,674 |
Incoming resources £ 3,791 3,791 |
Outgoing resources £ - - |
Transfers £ - - |
Carried forward £ 143,465 |
|---|---|---|---|---|
| 143,465 |
page 11
CELESTIAL CHURCH OF CHRIST COVENANT OF GOD PARISH
==> picture [129 x 22] intentionally omitted <==
| Incomingresources Incomingresourcesfromgeneratedfunds Charitable Activity Tithes Offerings and Collection Building Fund Imeko Fund Thanksgiving OtherIncome InterestReceivable |
127,180 27,397 3,791 2,825 7,155 11,312 297 |
2024 £ 179,957 179,957 179,957 |
155,569 3,429 3,713 2,891 16,932 6,090 211 |
2023 £ 188,835 |
|---|---|---|---|---|
| 188,835 | ||||
| 188,835 |
page 12
CELESTIAL CHURCH OF CHRIST COVENANT OF GOD PARISH
Ex penses for the year ended 31/05/2024
| Expenses Costs of generatingfunds Charitable Activities Pastoral Fund Donations and Gifts Welfare Functions and Events Parochial Expenses ChoirExpenses Rates Insurance Water rates Heat and light Cleaning Repairs andrenewals Salaries Motor expenses Travelling Stationery& office supplies Telephone Subscriptions Bankcharges Depreciation of plantand machinery Depreciation of fixtures and fittings Depreciation ofequipment Depreciation of motor cars GovernanceCosts Accountancy Loan Interest |
2024 £ 2,139 4,271 2,611 66,220 - 6,026 1,691 1,339 2,112 23,507 1,959 12,503 25,753 15,553 3,970 121 1,839 1,477 1,649 1,326 1,701 145 13 177,925 750 4,969 5,719 183,644 |
2023 £ 2,125 2,100 4,117 47,218 26,976 - 1,739 2,701 1,921 12,543 - 2,614 22,200 3,628 - 493 2,954 - - 1,715 711 626 - |
|---|---|---|
| 136,381 | ||
| 700 14,185 |
||
| 14,885 | ||
| 151,266 |
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