Registered Charity number 1051613
CHRIST APOSTOLIC CHURCH SURREY DOCKS
Report and Accounts
31 December 2022
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
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CHRIST APOSTOLIC CHURCH SURREY DOCKS
Trustees' Report
Year ended 31 December 2022
The Trustees present their report and the financial statements for the year ended 31 December 2022 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
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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 17 November 2023 and was signed on their behalf by:
ODUNAYO OTTI
Elder J O OTTI
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CHRIST APOSTOLIC CHURCH SURREY DOCKS INDEPENDENT EXAMINER'S REPORT
I report on the charity for the year ended 31 December 2022, 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:
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. to keep accounting records in accordance with section 130 of the 2011 Act; and
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. 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.
ADELANI AWE (FCCA, Msc) DELANI AWE & CO Chartered Certified Accountants
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CHRIST APOSTOLIC CHURCH SURREY DOCKS Profit and Loss Account for the year ended 31 December 2022
| Notes Turnover Gross profit Administrative expenses Operating profit 2 Interest receivable Profit on ordinary activities before taxation Profit for the financial year |
2022 2021 £ £ 1,046,785 888,537 - - 1,046,785 888,537 (859,128) (570,824) 187,657 317,713 211 22 187,868 317,735 187,868 317,735 |
|---|---|
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CHRIST APOSTOLIC CHURCH SURREY DOCKS
Statement of Financial Activities For the year ended 31 December 2022
| 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 £ 8.1 863,138 - - 113,579 67,618 211 1,044,546 8.2 546,981 8.3 310,723 857,704 186,842 186,842 1,725,792 1,912,634 |
Restricted £ 2,450 2,450 - 1,424 1,424 1,026 1,026 144,518 145,544 |
2022 Total Fund £ 863,138 2,450 - 113,579 67,618 211 1,046,996 546,981 312,147 859,128 187,868 187,868 1,870,310 2,058,178 |
2021 Total Fund £ 635,718 117,865 - 101,976 32,978 22 |
|---|---|---|---|---|
| 8.1 8.2 8.3 |
||||
| 888,559 | ||||
| 338,217 232,607 |
||||
| 570,824 | ||||
| 317,735 | ||||
| 317,735 1,552,575 |
||||
| 1,870,310 |
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CHRIST APOSTOLIC CHURCH SURREY DOCKS Balance Sheet as at 31 December 2022
| Notes Fixed assets Tangible assets 3 Current assets Debtors 572 Cash at bank and in hand 225,907 226,479 Creditors: amounts falling due within one year 4 (178,310) Net current assets/(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. |
572 225,907 |
2022 2021 £ £ 3,152,966 3,184,772 3,000 95,354 98,354 143,421 48,169 (45,067) 3,201,135 3,139,705 (1,142,957) 1,269,395 2,058,178 1,870,310 145,544 144,518 1,912,634 1,725,792 2,058,178 1,870,310 |
|---|---|---|
| 226,479 (178,310) |
ODUNAYO OTTI
Elder J O OTTI - Approved by board of Trustees
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CHRIST APOSTOLIC CHURCH SURREY DOCKS Notes to the Accounts for the year ended 31 December 2022
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 2022 3,606,589 Additions - At 31 December 2022 3,606,589 Depreciation At 1 January 2022 428,806 Charge for the year 29,204 At 31 December 2022 458,010 Net book value At 31 December 2022 3,148,579 At 31 December 2021 3,177,783 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 3,811,634 - - - 197,797 7,248 3,811,634 194,927 3,129 626,862 1,559 1,043 31,806 196,486 4,172 658,668 1,311 3,076 3,152,966 2,870 4,119 3,184,772 £ £ 51,872 16,983 |
|---|---|
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CHRIST APOSTOLIC CHURCH SURREY DOCKS Notes to the Accounts for the year ended 31 December 2022
| 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 2022 1,725,792 Net Incoming Fund 186,842 At 31 December 2022 1,912,634 |
Restricted 144,518 1,026 145,544 |
126,438 126,438 178,310 143,421 £ £ 292,299 322,911 169,806 184,994 680,852 761,490 1,142,957 1,269,395 £ £ 1,870,310 1,552,575 187,868 317,735 2,058,178 1,870,310 |
|---|---|---|
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CHRIST APOSTOLIC CHURCH SURREY DOCKS Notes to the accounts (continued)
8 Income and Expenditure Account For the year ended 31 December 2022
| 8.1 INCOMING 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 Other legal and professional Audit fees Insurance Motor vehicle expenses Repairs & maintenance Sundry expenses Software & Computers accessories Mortgage interest Depreciation charge |
2022 2021 Unrestricted Restricted Total Total Fund Fund £ £ £ £ 863,138 863,138 635,718 2,450 2,450 117,865 - 113,579 113,579 101,976 67,618 67,618 32,978 211 211 22 |
|---|---|
| 1,044,546 2,450 1,046,996 888,559 |
|
| - - - 5,539 5,539 5,249 16,563 16,563 14,010 376,285 376,285 291,969 4,830 4,830 3,384 6,500 6,500 4,327 114,904 114,904 7,187 - - - 6,473 6,473 4,865 3,194 3,194 3,526 2,958 2,958 1,931 9,735 9,735 1,769 |
|
| 546,981 - 546,981 338,217 |
|
| 5,266 5,266 1,340 78,079 78,079 58,503 7,635 7,635 6,745 2,215 2,215 7,398 5,264 5,264 - 4,711 4,711 3,348 1,808 1,808 - - 0 - 7,868 7,868 6,269 756 756 635 1,424 1,424 1,237 619 619 320 448 448 - 164,248 164,248 113,323 31,806 31,806 33,489 |
|
| 310,723 1,424 312,147 232,607 |
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CHRIST APOSTOLIC CHURCH SURREY DOCKS Profit and Loss Account for the year ended 31 December 2022
for the information of the directors only
| Income Cost of sales Gross profit Administrative expenses Operating profit Interest receivable Profit before tax |
2022 2021 £ £ 1,046,785 888,537 - - 1,046,785 888,537 (859,128) (570,824) 187,657 317,713 211 22 187,868 317,735 |
|---|---|
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CHRIST APOSTOLIC CHURCH SURREY DOCKS Profit and Loss Account for the year ended 31 December 2022
for the information of the directors only
ADELANI AWE (FCCA, Msc)
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CHRIST APOSTOLIC CHURCH SURREY DOCKS Schedule to the Profit and Loss Account for the year ended 31 December 2022
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 Missionary & evangelism 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 Repairs and maintenance AD Depreciation Software Sundry expenses Legal and professional costs: Audit fees Accountancy fees Other legal and professional |
2022 2021 £ £ 1,046,785 888,537 376,285 291,969 4,830 3,384 5,539 5,249 9,735 1,769 5,266 1,340 756 635 106,653 - 509,064 304,346 62,115 50,657 15,964 7,846 7,635 6,745 5,264 - 164,248 113,323 255,226 178,571 4,711 3,348 6,473 4,865 8,251 7,187 3,194 3,526 16,563 14,010 2,215 7,398 7,868 6,269 6,500 4,327 2,958 1,931 1,424 1,237 31,806 33,489 448 - 619 320 93,030 87,907 - - - - 1,808 - 1,808 - 859,128 570,824 |
|---|---|
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