Registered Charity number 1051613
CHRIST APOSTOLIC CHURCH SURREY DOCKS
Report and Accounts
31 December 2020
CHRIST APOSTOLIC CHURCH SURREY DOCKS Report and accounts Contents
| Page | |
|---|---|
| 1 | |
| 2 | |
| Independent Examiners Report | 3 |
| Statement of Financial Activities | 4 |
| Balance sheet | 5 |
| Notes to the Financial Statements | 6 - 8 |
| (inclusive of detailed Income & Expenditure) |
CHRIST APOSTOLIC CHURCH SURREY DOCKS LEGAL AND ADMINISTRATIVE
Year ended 31 December 2019
Trustees;
Rev. Emmanuel Medaiyese Rev. Lawrence Ajayi Pastor Casey Badejo Elder Jacob Otti Elder Ajibola Lemo Elder Olaleye Olatokun Pastor Michael Adekoya
Register Charity Number ; 1051613
Business Address 163 Ilderton Road Bermondsey London SE16 8TT
Bankers
Barclays Bank Plc Bushey Branch 32 Clarendon Road Watford WD1 1LD
Lloyds Bank PLC Camberwell Green Branch 25 Camberwell Green London, SE5 7AB.
Independent Examiner ADELANI AWE (FCCA, Msc) DELANI AWE & CO Chartered Certified Accountants 14 BRIGHT ROAD CHATHAM KENT ME4 5HH
1
CHRIST APOSTOLIC CHURCH SURREY DOCKS
Trustees' Report
Year ended 31 December 2020
The Trustees present their report and the financial statements for the year ended 31 December 2020 The financial statements have been prepared in accordance with the accounting policies set out on page6 and comply with the statement of Recommended Practice (SORP 2015) and applicable law.
a. Advancement of the Christian Faith in the United Kingdom and abroad
b. The relief of persons who are in conditions of need, hardship or distress or who are aged or sick in the United Kingdom and abroad.
The principal activities of the Charity are worship and the involvement of various ministries and ministers of religion, propagating Christian tenets to both members and non-members of the ministry at various meetings.
To achieve these objectives, the trustees appointed the Board of Ministers. The ministry is invovled in Christian Outreach Programmes designed to increase Christian awareness and spread the gospel of our Lord Jesus Christ.
The trustees who serve during the year were;
Rev. Emmanuel Medaiyese Pastor Lawrence Ajayi Pastor Michael Adekoya Pastor Casey Badejo Elder Jacob Otti Elder Ajibola Lemo Elder Olaleye Olatokun
METHOD OF APPOINTMENT OR ELECTION OF TRUSTEES
Due consideration is given to what is needed to make the Board and commitee as effective as can be. Also care is taken to ensure the board has the right mix of skills and experience to discharge its duties and ensure effective governance and management. Trustees serve a term of two years which is renewable at the discretion of the Board; however, in exceptional cases Trustee may be asked to stay on for more than four years.
TRUSTEES' RESPONSIBILITIES
Charity Law requires the trustees to prepare financial statements for each fianacial year which give a true and fair view of the state of affairs of the charity at the year end and of its incoming resources and resources expended for that year. In preparing those financial statements the trustees are required to;
●select suitable accounting policies and apply them consistently,
●make judgement and estimates that are reasonable and prudent,
●prepare the financial statements on the going concern basis unless it is appropriate 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 company and to enable them to ensure that the financial statements comply with the Charities Act 1993. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of
2
fraud.
RISK MANANGEMENT
Trustees take seriously their responsibility to assess and manage the major risks that the charity faces and review them regulaly. A formal risk management process is in place to ensure risks are identified and appropraite mitigation actions are taken- this is captured in our Risk Management Policy.
FINANCIAL REVIEW
a. RESERVE POLICY
Christ Apostolic Church unrestricted reserves comprise the general fund which can be spent on any purpose of the charity and are avilable to meet future demands on the charity's resources. The trustees have determined that it would be prudent to maintain three months of expenditure to meet core expenses of the church.
b. PRINCIPAL FUNDING
Individual donations and gifts continue to be the main source of income, including Gift aids credits.
STATEMENT OF PUBLIC BENEFIT
In line with requirements of the Charities Commission under the Charity Act 2011 for charities to demonstrate that their aims are for public benefit, the Board of Trustees of Christ Apostolic Chuch are confident that our aims fully meet the public benefit test that all the activities of the charity described in the report, are undertaken in pursuit of our mandate which by implication seeks to:
a) help people live a life free from fear and anxiety, allowing them to prosper in mind, body and spririt b) Improve overall well being and every life of each person
c) motivate, teach, councel and coach people to attain success in their career, family life, marriage and personal life
d) support the less privileged and needy through gifts in kind and where appropriate financial assistance; and
e) give financial support to other charities that share our values and aims as well as respond to social needs
This report was approved by the Board of Trustees on ------------------------------------------- and was signed on their behalf by:
Odunayootti
Elder J O OTTI
3
CHRIST APOSTOLIC CHURCH SURREY DOCKS INDEPENDENT EXAMINER'S REPORT
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 £250,000 and I am qualified to undertake the examination by been a qualified member of Association of Chartered Certfied Accountants.
It is my responsisblity 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
comparison of the accounts presented with those records. It also includes consideration of any unusua 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 (FCCA, Msc) DELANI AWE & CO Chartered Certified Accountants
4
CHRIST APOSTOLIC CHURCH SURREY DOCKS
Statement of Financial Activities For the year ended 31 December 2020
| Building Special offering Solution House God's Grace Day Care Bank interest received 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 |
Unrestricted Notes £ 8.1 511,119 - 62,138 33,966 45 607,268 8.2 289,651 8.3 229,225 518,876 88,392 88,392 1,330,062 1,418,454 |
Restricted £ 5,249 5,249 - 4,738 4,738 511 511 138,590 139,101 |
2020 Total Fund £ 511,119 5,249 - 62,138 33,966 45 612,517 289,651 233,963 523,614 88,903 88,903 1,468,652 1,557,555 |
2019 Total Fund £ 475,139 7,165 46,132 77,163 52,102 98 |
|---|---|---|---|---|
| 8.1 8.2 8.3 |
||||
| 657,799 | ||||
| 342,146 284,958 |
||||
| 627,104 | ||||
| 30,695 | ||||
| 30,695 1,437,957 |
||||
| 1,468,652 |
5
CHRIST APOSTOLIC CHURCH SURREY DOCKS Balance Sheet as at 31 December 2020
| Notes Fixed assets Tangible assets 3 Current assets Stocks - Debtors - Investments held as current assets - Cash at bank and in hand 58,034 58,034 Creditors: amounts falling due within one year 4 (150,841) Net current liabilities Total assets less current liabilities Creditors: amounts falling due after more than one year 5 Net assets Unrestricted Funds 6 Unrestricted Funds 6 Restricted and Unrestricted Funds c/fwd. |
- - - 58,034 |
2020 2019 £ £ 2,953,449 2,985,255 - - 46,183 46,183 145,841 (92,807) (99,658) 2,860,642 2,885,597 (1,303,087) 1,416,945 1,557,555 1,468,652 139,101 138,590 1,418,454 1,330,062 1,557,555 1,468,652 |
|---|---|---|
| 58,034 (150,841) |
Odunayootti
Elder J O OTTI - Approved by board of Trustees
6
CHRIST APOSTOLIC CHURCH SURREY DOCKS 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).
Elde Incoming Resources
Income is mainly from grants and bank interest received are included in the financial statements when received.
Resources Expended
All expenditure is accounted for on an accrual basis and has been classified under headings that aggregate all costs related to the category.
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.
| Equipment, furniture & fittings | 25% Straight line | |||
|---|---|---|---|---|
| Motor vehicles | 25% Straight line | |||
| Land & building | 1% Straight line | |||
| 2 | Operating profit | £ | £ | |
| This is stated after charging: | ||||
| Depreciation of owned fixed assets | 31,806 | 38,706 | ||
| Number of directors to whom benefits accrued under money | - | - | ||
| 0 | Interest payable | 2020 | 2019 | |
| £ | £ | |||
| Interest payable | - | - | ||
| Non-equity dividends | - | - | ||
| - | - | |||
| 0 | Taxation | 2020 | 2019 | |
| £ | £ | |||
| UK corporation tax | - | - | ||
| Deferred tax | - | - | ||
| ch | ||||
| urc | ||||
| h. | - | - |
0 Intangible fixed assets
£
7
CHRIST APOSTOLIC CHURCH SURREY DOCKS Notes to the Accounts for the year ended 31 December 2020
Goodwill:
Cost
| At 1 January 2020 Additions Disposals At 31 December 2020 Amortisation At 1 January 2020 Provided during the year On disposals At 31 December 2020 Net book value At 31 December 2020 At 31 December 2019 |
- - - |
|---|---|
| - | |
| - - - |
|
| - | |
| - | |
| - |
Goodwill is being written off in equal annual instalments over its estimated economic life of 5
3 Tangible fixed assets
| Land and buildings Computers & Musical equipment Cost £ £ At 1 January 2020 3,343,460 197,797 Additions - - At 31 December 2020 3,343,460 197,797 Depreciation At 1 January 2020 370,398 191,809 Charge for the year 29,204 1,559 At 31 December 2020 399,602 193,368 Net book value At 31 December 2020 2,943,858 4,429 At 31 December 2019 2,973,062 5,988 4 Creditors: amounts falling due within one year Non-equity preference shares Bank loans and overdrafts Obligations under finance lease and hire purchase contracts Trade creditors Corporation tax Other taxes and social security costs Other creditors - Mortgage Loan Amounts owed to group undertakings and undertakings in which the company has a participating interest |
IT & Multi Media Total £ £ 7,248 3,548,505 - - 7,248 3,548,505 1,043 563,250 1,043 31,806 2,086 595,056 5,162 2,953,449 6,205 2,985,255 £ £ - - - - - - - - - - - - 16,983 11,983 133,858 133,858 150,841 145,841 |
|---|---|
8
CHRIST APOSTOLIC CHURCH SURREY DOCKS Notes to the Accounts
for the year ended 31 December 2020
| 5 Creditors: amounts falling due after one year Bank loans Mortgage loans 6 Restricted Funds Unrestricted At 1 January 2020 1,330,062 Net Incoming Fund 88,392 At 31 December 2020 1,418,454 |
Restricted 138,590 511 139,101 |
£ £ 337,486 361,971 965,601 1,054,974 1,303,087 1,416,945 £ £ 1,468,652 1,437,957 88,903 30,695 1,557,555 1,468,652 |
|---|---|---|
9
CHRIST APOSTOLIC CHURCH SURREY DOCKS Notes to the accounts (continued)
8 Income and Expenditure Account For the year ended 31 December 2020
| PastINCOMING RESOURCES Thithes, offering and thanksgiving Building Special offering Solution House Day Care Bank interest received Total Incoming Resources OUTGOING RESOURCES 8.2 Support costs of activities in furtherance of the Charity's objects: Honorarium Donations & Gifts Wages & salaries Choir & Youth CAC Southern zone Advertising Printing, postage & stationery Evangelical/outreach materials Convention & anniversary Members' welfare and training 8.3 Management and Administration of Charity: Travelling and subsistence Rent & rates Light & heat Bank charges Cleaning Telephone Security Audit fees Insurance Motor vehicle expenses Repairs & maintenance Sundry expenses Software & Computers accessories Mortgage interest Depreciation charge |
2020 2019 UnrestrictedRestricted Total Total Fund Fund £ £ £ £ 516,368 516,368 475,139 - 7,165 - 46,132 62,138 62,138 77,163 33,966 33,966 52,102 45 45 98 |
|---|---|
| 612,517 - 612,517 657,799 |
|
| 4,152 4,152 8,094 7,852 7,852 5,809 252,229 252,229 289,931 4,105 4,105 9,381 5,209 5,209 5,423 1,527 1,527 1,636 6,268 6,268 6,751 3,360 3,360 4,896 1,729 1,729 6,186 3,220 3,220 4,039 |
|
| 289,651 - 289,651 342,146 |
|
| 1,386 1,386 4,224 39,991 39,991 65,406 13,967 13,967 25,805 7,923 7,923 2,365 1,471 1,471 2,098 4,371 4,371 6,742 2,181 2,181 3,496 - 0 2,000 6,524 6,524 6,106 1,867 1,867 2,612 4,738 4,738 5,975 2,780 2,780 1,839 1,275 1,275 1,544 113,683 113,683 122,940 31,806 31,806 31,806 |
|
| 229,225 4,738 233,963 284,958 |
10