Registered Charity number 1053445
EL- BETHEL CHURCH OF CHRIST ALADURA
Report and Accounts
31 March 2024
EL- BETHEL CHURCH OF CHRIST ALADURA
Report and accounts Contents
| Page | |
|---|---|
| Legal and Administrative information | 1 |
| Trustees' report | 2 - 3 |
| Independent Examiner's report | 4 |
| Statement of Financial Activities | 5 |
| Balance sheet | 6 |
| Notes to the Financial Statements | 7 - 9 |
| (inclusive of detailed Income & Expenditure) |
EL- BETHEL CHURCH OF CHRIST ALADURA LEGAL AND ADMINISTRATIVE
Trustees;
Rev. George Oladipo Rev (Mrs) Elizabeth Oladipo Apoistle Moshood Omishakin Rev. (Mrs) Aderonke Kasim Rev. Lanre Tijani Rev. (Mrs) Maria Tayo
Register Charity Number ; 1053445
Bankers NATWEST
Accountants
Lemo Corporate (Chartered Certified Accountants) 815 Old Kent Road London SE15 1NX
Registered Address
ST JAMES COMPOUND HALL 30 POWELL ROAD CLAPTON LONDON E5 8DJ
1
EL- BETHEL CHURCH OF CHRIST ALADURA
Trustees' Report
The Trustees present their report and the financial statements for the year ended 31 March 2024 The financial statements have been prepared in accordance with the accounting policies set out on page 9 and comply with the statement of Recommended Practice (SORP 2005) and applicable law.
OUR AIMS AND OBJECTIVES
The objectives of the Charity as set out in the Trust Deed are
a). Advancement of the Christian Faith in accordance with the statement of belief appearing in the schedule hereto in london and such other parts of the United kingdom or the world as the trustees may from time to time think fit and to fulfil such other purposes which are exclusively charitable according to the law of England and Wales and are connected with the charitable work of the trust.
b). To relieve persons who are in conditions of need or hardship or who are aged and sick and to relieve the distress caused therbey in the said location and in such other parts of the United Kingdom or the world as the trustees may from time to time think fit.
REVIEWING THE CHARITY'S STRATEGIES
At the end of each year, the charity carries out a review into its activities. This review considers how, and if the charity's aims, objectives and activities for the year have been realised. The review explores the results of the charity's activities in the preceding 12 month period and the the benefit they brought to our target set of people.
In carrying out this review, the charity has referred to the guidance provided by the Charity Commission's general guidelines on public benefits and how it impacts on the charity's aims and objectives, and also in charting the charity's future strategies and activities. Of particular interest to the Trustees, is how its planned activities will help in achieving the aims and objectives of the Charity.
THE FOCUS OF OUR MINISTRY'S ACTIVITIES
The main objectives for the year continued to be the advancement of the Christian religion and the relief of poverty and sickness. The strategies we used to achieve these objectives included:
1.) Radio 101.1FM Broadcasts
2.) Holloway and Brixton Prisons
3.) Immigration detention centres
4.) Hospitals
5.) Community Centres
MEMBERS OF THE BOARD OF TRUSTEES
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 involved in Christian Outreach Programmes designed to increase Christian awareness and spread the gospel of our Lord Jesus Christ.
The trustees who served during the year were;
Rev. George Oladipo Rev (Mrs) Elizabeth Oladipo Apostle Moshood Omishakin
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Rev. (Mrs) Aderonke Kasim Rev. Lanre Tijani Rev. (Mrs) Maria Tayo
The Charity's Trustees are appointed by the Board of Trustees.
TRUSTEES' RESPONSIBILITIES
Charity Law requires the trustees to prepare financial statements for each financial year which gives 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 not 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 and other irregularities.
This report was approved by the board of trustees on 18 November 2024
georgeoladipo
Rev George O Oladipo 18 November 2024
TRUSTEE
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EL- BETHEL CHURCH OF CHRIST ALADURA
Independent Examiner's Report
We report on the accounts for the year ended 31 March 2024,
which are set out on pages 5 to 10
Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider (under section144(2) of the Charities Act 2011
that an audit is not required and that an Independent examination is needed
It is my responsibility to;
●examine the accounts (under section145 of the 2011 Act)
- ●to follow the procedures laid down in the General Directions given by the Charity Commissioners (under section (145)(5)b) of the 2011 Act)
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 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 account s 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 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 Lemo Corporate (Chartered Certified Accountants)
Date 18 Novembver 2024 4
EL- BETHEL CHURCH OF CHRIST ALADURA Profit and Loss Account for the year ended 31 March 2024
| Notes Turnover Administrative expenses Operating profit 2 Interest receivable Profit on ordinary activities before taxation Profit for the financial year |
2024 2023 £ £ 42,244 32,279 (33,620) (30,307) 8,624 1,972 8,624 1,972 309 76 8,933 2,048 8,933 2,048 |
|---|---|
5
EL- BETHEL CHURCH OF CHRIST ALADURA
Statement of Financial Activities For the year ended 31 March 2024
| Income Resources Tithes, offerings and thanksgiving Building Gift Aid Bank interest 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 £ 6.1 38,316 - 3,077 309 41,702 6.2 1,809 6.3 31,811 33,620 8,082 8,082 44,797 52,879 |
Restricted £ 0 851 - 851 - - - 851 851 - 851 |
2024 Total Fund £ 38,316 851 3,077 309 42,553 1,809 31,811 33,620 8,933 8,933 44,797 53,730 |
2023 TOTAL Fund £ 25,274 970 6,035 76 |
|---|---|---|---|---|
| 6.1 6.2 6.3 |
||||
| 32,355 | ||||
| 1,665 28,642 |
||||
| 30,307 | ||||
| 2,048 | ||||
| 2,048 42,749 |
||||
| 44,797 |
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EL- BETHEL CHURCH OF CHRIST ALADURA Balance Sheet as at 31 March 2024
| Notes | 2024 | 2023 | |||
|---|---|---|---|---|---|
| £ | £ | ||||
| Fixed assets | |||||
| Tangible assets | 3 | 16,928 | 18,722 | ||
| Current assets | |||||
| Debtors | - | ||||
| Cash at bank and in hand | 37,152 | 26,425 | |||
| 37,152 | 26,425 | ||||
| Creditors: amounts falling due within | |||||
| one year | 5 | (350) | (350) | ||
| Net current assets | 36,802 | 26,075 | |||
| Net assets | 53,730 | 44,797 | |||
| Unrestricted Funds | |||||
| Unrestricted Funds | 6 | 53,730 | 44,797 | ||
| Restricted and Unrestricted Funds c/fwd. | 53,730 | 44,797 |
georgeoladipo
Rev George O Oladipo
Approved by board of Trustees
Date - 18 November 2024
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EL- BETHEL CHURCH OF CHRIST ALADURA Notes to the Accounts for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The Financial Statements have been prepared under the historic cost convention and in accordance with the Statement of Recomended Accounting Practice : Accounting and Reorting by Charities (SORP 2005), issued in March 2005, UK Accounting Standards and the Charities
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.
| Plant and machinery Motor vehicles Operating profit This is stated after charging: Depreciation of owned fixed assets Tangible fixed assets Cost At 1 April 2023 Additions At 31 March 2024 Depreciation At 1 April 2023 Charge for the year At 31 March 2024 Net book value At 31 March 2024 At 31 March 2023 |
25% straight line 25% straight line £ £ 1,794 1,794 Furniture & fittings Musical equipment Total £ £ £ 15,098 15,012 30,110 - - - 15,098 15,012 30,110 6,057 5,331 11,388 975 819 1,794 7,032 6,150 13,182 8,066 8,862 16,928 9,041 9,681 18,722 |
|---|---|
-
2 Operating profit
-
3 Tangible fixed assets
8
EL- BETHEL CHURCH OF CHRIST ALADURA Notes to the Accounts for the year ended 31 March 2024
| 4 Creditors: amounts falling due within one year Other creditors 5 Restricted Funds UnrestrictedRestricted At 1 April 2023 44,797 - Net Incoming Fund 8,933 - At 31 March 2024 53,730 - |
£ £ 350 350 2024 2023 £ £ 44,797 42,749 8,933 2,048 53,730 44,797 |
|---|---|
9
EL- BETHEL CHURCH OF CHRIST ALADURA
Notes to the accounts (continued)
6 Income and Expenditure Account For the year ended 31 March 2023
| 6.1 INCOMING RESOURCES Thithes, offering and thanksgiving Buildin/Rent Fund Gift Aid Bank interest received Total Incoming Resources OUTGOING RESOURCES 6.2 Support costs of activities in furtherance of the Charity's objects: Pastoral allowances Donations & Gifts Musician Expenses Evangelical/outreach materials 6.3 Management and Administration of Charity: Travelling and subsistence Rent Light & heat Bank charges Rates Telephone Missionary Accountancy fees Repairs & maintenance Gift Aid Expenses Depreciation charge |
Unrestricted £ 38,316 3,077 309 41,702 - 210 192 1,359 1,809 169 29,459 0 0 - 39 - 350 - - 1,794 31,811 |
Restricted £ 851 - 851 - - - |
2024 2023 Total Total Fund Fund £ £ 38,316 25,274 851 970 3,077 6,035 309 76 42,553 32,355 0 0 210 205 192 180 1,359 1,280 1,809 1,665 169 200 29,459 25,105 0 0 0 0 0 973 39 0 0 0 350 350 0 220 48 1,794 1,794 31,859 28,642 33,668 30,307 |
|---|---|---|---|
10
EL- BETHEL CHURCH OF CHRIST ALADURA
Profit and Loss Account for the year ended 31 March 2024
for the information of the directors only
| Sales Administrative expenses Operating profit Interest receivable Profit before tax |
2024 2023 £ £ 42,244 32,279 (33,620) (30,307) 8,624 1,972 309 76 8,933 2,048 |
|---|---|
11
EL- BETHEL CHURCH OF CHRIST ALADURA Schedule to the Profit and Loss Account for the year ended 31 March 2024
for the information of the directors only
| Sales Tithes, offerings & thanksgiving Administrative expenses Employee costs: Honorarium Members' training and welfare Travel and subsistence Motor expenses Premises costs: Rent Rates Light and heat General administrative expenses: Stationery and printing Musician Expenses Repairs and maintenance Depreciation Legal and professional costs: Accountancy fees |
2024 2023 £ £ 42,244 32,279 42,244 32,279 - - - - 169 200 - - 169 200 29,459 25,105 - 973 - - 29,459 26,078 - - 192 180 - 220 1,794 1,794 3,642 3,679 350 350 350 350 33,620 30,307 |
|---|---|
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