2021-12-31-accounts - Christ Apostolic Church Surrey Docks

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

Registered Charity number 1051613

CHRIST APOSTOLIC CHURCH SURREY DOCKS

Report and Accounts

31 December 2021

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

CHRIST APOSTOLIC CHURCH SURREY DOCKS

Trustees' Report

Year ended 31 December 2021

The Trustees present their report and the financial statements for the year ended 31 December 2021 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;

Pastor Lawrence Ajayi Pastor Michael Adekoya Pastor Casey Badejo Elder Jacob Otti Elder Ajibola Lemo Elder Olaleye Olatokun Elder Adebolu Akande Elder Adebiyi

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 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 -21 October 2022 and was signed on their behalf by:

JacobOtti

Elder J O OTTI

CHRIST APOSTOLIC CHURCH SURREY DOCKS INDEPENDENT EXAMINER'S REPORT

I report on the charity for the year ended 31 December 2021, 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.

to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Adelani Awe

ADELANI AWE (FCCA, Msc) DELANI AWE & CO Chartered Certified Accountants

CHRIST APOSTOLIC CHURCH SURREY DOCKS

Statement of Financial Activities For the year ended 31 December 2021

Tithes, offering and thanksgiving 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 £ 8.1 635,718 110,700 - 101,976 32,978 22 881,394 8.2 338,217 8.3 231,370 569,587 311,807 311,807 1,413,985 1,725,792	Restricted £ 7,165 7,165 - 1,237 1,237 5,928 5,928 138,590 144,518	2021 Total Fund £ 635,718 117,865 - 101,976 32,978 22 888,559 338,217 232,607 570,824 317,735 317,735 1,552,575 1,870,310	2020 Total Fund £ 509,476 6,892 - 62,138 33,966 45
	8.1 8.2 8.3
				612,517
				294,631 233,963
				528,594
				83,923
				83,923 1,468,652
				1,552,575

CHRIST APOSTOLIC CHURCH SURREY DOCKS Balance Sheet as at 31 December 2021

Notes Fixed assets Tangible assets 3 Current assets Debtors 3,000 Cash at bank and in hand 95,354 98,354 Creditors: amounts falling due within one year 4 (143,421) 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.	3,000 95,354	2021 2020 £ £ 3,184,772 2,953,449 53,054 53,054 150,841 (45,067) (97,787) 3,139,705 2,855,662 (1,269,395) 1,303,087 1,870,310 1,552,575 144,518 138,590 1,725,792 1,413,985 1,870,310 1,552,575
	98,354 (143,421)

Elder J O OTTI - Approved by board of Trustees

CHRIST APOSTOLIC CHURCH SURREY DOCKS Notes to the Accounts for the year ended 31 December 2021

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).

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
Motor vehicles
Land & building
2
Operating profit
This is stated after charging:
Depreciation of owned fixed assets
3
Tangible fixed assets
Land and
buildings
Cost
£
At 1 January 2021
3,343,460
Additions
263,129
At 31 December 2021
3,606,589
Depreciation
At 1 January 2021
399,602
Charge for the year
29,204
At 31 December 2021
428,806
Net book value
At 31 December 2021
3,177,783
At 31 December 2020
2,943,858
4
Creditors: amounts falling due within one year
Other taxes and social security costs

25% Straight line
25% Straight line
1% Straight line
£
£
31,806
38,706
Computers
& Musical
equipment
IT & Multi
Media
Total
£
£
£
197,797
7,248
3,548,505
-
-
263,129
197,797
7,248
3,811,634
193,368
2,086
595,056
1,559
1,043
31,806
194,927
3,129
626,862
2,870
4,119
3,184,772
4,429
5,162
2,953,449
£
£
16,983
16,983

CHRIST APOSTOLIC CHURCH SURREY DOCKS Notes to the Accounts for the year ended 31 December 2021

Other creditors - Mortgage Loan 5 Creditors: amounts falling due after one year Bank loans Barclay Loan Mortgage loans 6 Restricted Funds Unrestricted At 1 January 2021 1,413,985 Net Incoming Fund 311,807 At 31 December 2021 1,725,792	Restricted 138,590 5,928 144,518	126,438 133,858 143,421 150,841 £ £ 322,911 337,486 184,994 - 761,490 965,601 1,269,395 1,303,087 £ £ 1,552,575 1,468,652 317,735 83,923 1,870,310 1,552,575

CHRIST APOSTOLIC CHURCH SURREY DOCKS Notes to the accounts (continued)

8 Income and Expenditure Account For the year ended 31 December 2021

PastINCOMING RESOURCES Tithes, 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: Pastoral allowances Honorarium Donations & Gifts Wages & salaries Pension 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	2021 2020 UnrestrictedRestricted Total Total Fund Fund £ £ £ £ 635,718 635,718 509,476 110,700 7,165 117,865 6,892 - 101,976 101,976 62,138 32,978 32,978 33,966 22 22 45
	881,394 7,165 888,559 612,517
	- - - 5,249 5,249 4,152 14,010 14,010 7,852 291,969 291,969 252,229 3,384 3,384 4,980 4,327 4,327 4,105 7,187 7,187 5,209 - - 1,527 4,865 4,865 6,268 3,526 3,526 3,360 1,931 1,931 1,729 1,769 1,769 3,220
	338,217 - 338,217 294,631
	1,340 1,340 1,386 58,503 58,503 39,991 6,745 6,745 13,967 7,398 7,398 7,923 - 0 1,471 3,348 3,348 4,371 - 0 2,181 - 0 - 6,269 6,269 6,524 635 635 1,867 1,237 1,237 4,738 320 320 2,780 - 0 1,275 113,323 113,323 113,683 33,489 33,489 31,806
	231,370 1,237 232,607 233,963

CHRIST APOSTOLIC CHURCH SURREY DOCKS Profit and Loss Account for the year ended 31 December 2021

for the information of the directors only

Income Cost of sales Gross profit Administrative expenses Operating profit Interest receivable Profit before tax	2021 2020 £ £ 888,537 612,472 - - 888,537 612,472 (570,824) (528,594) 317,713 83,878 22 45 317,735 83,923

CHRIST APOSTOLIC CHURCH SURREY DOCKS Profit and Loss Account for the year ended 31 December 2021

for the information of the directors only

ADELANI AWE (FCCA, Msc)

CHRIST APOSTOLIC CHURCH SURREY DOCKS Schedule to the Profit and Loss Account for the year ended 31 December 2021

for the information of the directors only

Income
Tithes, offerings & thanksgiving
Administrative expenses
Employee costs:
Wages and salaries
Pensions
Honorarium
Members' training and welfare
Travel and subsistence
Motor expenses
Premises costs:
Rent
Rates
Light and heat
Cleaning
Mortgage repayment/interest
General administrative expenses:
Telephone and fax
Stationery, books and printing
CAC Southern Zone
Evangelical materials
Donations and welfare
Bank charges
Insurance
Choir, Youth & Children
Convention & anniversary
Security
Repairs and maintenance
AD Depreciation
Software
Sundry expenses
Legal and professional costs:
Audit fees
Advertising and PR

2021
2020
£
£
888,537
612,472
291,969
252,229
3,384
4,980
5,249
4,152
1,769
3,220
1,340
1,386
635
1,867
304,346
267,834
50,657
36,010
7,846
3,981
6,745
13,967
-
1,471
113,323
113,683
178,571
169,112
3,348
4,371
4,865
6,268
7,187
5,209
3,526
3,360
14,010
7,852
7,398
7,923
6,269
6,524
4,327
4,105
1,931
1,729
-
2,181
1,237
4,738
33,489
31,806
-
1,275
320
2,780
87,907
90,121
-
-
-
1,527
-
1,527
570,824
528,594