CELESTIAL CHURCH OF CHRIST FOUNDERS PARISH ACCOUNTS 31ST MARCH 2021
EMMANUEL STEPHENS & CO. CHARTERED ACCOUNTANTS, BUSINESS ADVISERS & CONSULTANTS 62 BEECHWOOD ROAD, LONDON E8 3DY
CELESTIAL CHURCH OF CHRIST FOUNDERS PARISH Report and Accounts for the year ended 31st March 2021
CHARITY REGISTRATION NUMBER IN ENGLAND AND WALES 1054304
EMMANUEL STEPHENS & CO.
CHARTERED ACCOUNTANTS, BUSINESS ADVISERS, & CONSULTANTS. 62 BEECHWOOD ROAD, LONDON E8 3DY
CELESTIAL CHURCH OF CHRIST FOUNDERS PARISH
Reports and Accounts
| CONTENTS | |
|---|---|
| Charity Information | 1 |
| Report of the Trustees | 2 |
| Accountant's Report | 3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 |
| Notes to Accounts | 6 - 7 |
CELESTIAL CHURCH OF CHRIST FOUNDERS PARISH
Charity Information
Trustees
Rev. Julius Dale Olaleye Ms Abimbola Fatoyinbo Mr Olaniyi Abodunrin Mrs Aderemi Folarin Felicia Agbigbe
Charity Registration No:
1054304
BUSINESS OFFICE
UNIT 9, ARGALL AVENUE LEYTON LONDON E10 7QE
BANKERS
Lloyds TSB 1 Churchill Place London E14 5HP
ACCOUNTANTS
EMMANUEL STEPHENS & CO. 62 BEECHWOOD ROAD LONDON E8 3DY
Page 1
CELESTIAL CHURCH OF CHRIST FOUNDERS PARISH
REPORT OF THE TRUSTEES TO MEMBERS OF THE CELESTIAL CHURCH OF CHRIST FOUNDERS PARISH
The Trustees present their report and Accounts for the year ended 31st March 2020. Celestial Church of Christ Founder's Parish is a registered charity with the overall mission of spreading the Christian faith, alleviating poverty and reaching out to those that are marginalised in the society at large. We started the year with a spirit-filled service with the motive of continuous soul-winning for the Kingdom of Christ.
We operate annual women convention to encourage women of all ages to come together to share life experiences on living the life of a Christian. This year’s convention attracted notable women and all the participants gave very positive feedback.
We did not relax in our charitable activities and the year’s harvest celebrations were a huge success with the children of God expressing satisfaction with the organisation and outcome of the entire week programme.
We shall in the coming years begin to look into seeking a permanent place of worship for the Lord in line the wishes of our members
Rev. Julius Dale Olaleye Date Trustee
Page 2
CELESTIAL CHURCH OF CHRIST FOUNDERS PARISH
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CELESTIAL CHURCH OF CHRIST FOUNDERS PARISH
I report on the accounts of the Trust for the period ended 31st March 2020, Which are set out on paged 3 to 6.
RESPECTIVE RESPONSIBILITIES OF THE TRUSTEES AND EXAMINER
As the Charity's Trustees, you are responsible for the preparation of the Account: you consider that the audit requirement of section 43(2) of the Charities Act 1993 ("the Act") does not apply. It is my responsibility to:
. Examine the accounts under section 145 of the 2011 Act;
. to follow the procedure s laid down in the general Directions given by the Charity Commission under section 145(5) of the 2011 Act;
. to state whether particulat 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 Commissioners. 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.
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 be drawn to enable a proper understanding of the accounts to be reached.
Emmanuel Stephens & Co.
Chartered Accountants, Business Advisers & Consultants 62 Beechwood Road
London E8 3DY
Page 3
CELESTIAL CHURCH OF CHRIST FOUNDERS PARISH
Statement of Financial Activities for the year ended 31st March 2021
| 2021 | 2020 | |||||
|---|---|---|---|---|---|---|
| Notes | Unrestricted | Restricted | Total | |||
| £ | £ | £ | £ | |||
| Incoming Resources | ||||||
| Tithes, Offerings & | 1 | |||||
| Similar Incoming Resources | 66,746 | - | 66,746 | 46,723 | ||
| Gift Aid Receivable | 5,048 | - | 5,048 | 14,613 | ||
| Total Incoming Resources | 71,794 | 0 | 71,794 | 61,336 | ||
| Charitable Resources Expended | ||||||
| Direct Charitable expenses | 2 | 15,634 | - | 15,634 | 33,556 | |
| Management & Administration | 4 | 42,267 | - | 42,267 | 36,149 | |
| Total Resources expended | 57,901 | - | 57,901 | 69,705 | ||
| Net Incoming Resources for the year | 13,893 | - | 13,893 | - | 8,369 |
|
| Funds Brought Forward | 39,444 | - | 39,444 | 47,813 | ||
| Fund Balances carried forward | 53,337 | - | 53,337 | 39,444 |
All disclosures relate to the continuing operations. There are no recognised gains or losses other than those disclosed above.
Page 4
CELESTIAL CHURCH OF CHRIST FOUNDERS PARISH
Balance sheet as at 31st March 2021
| 2021 Notes £ £ FIXED ASSETS Tangible Fixed Assets 9 15,262 CURRENT ASSETS Stock 254 Debtors & Prepayment 250 Cash in Hand/ Bank 97,138 97,642 LIABILITIES Amount falling due within one year 6 (15,675) NET CURRENT ASSETS 81,967 97,229 Amount falling due more than 1 year (43,892) 53,337 NET ASSETS 53,337 ACCUMULATED FUNDS Unrestricted 7 53,337 Restricted 8 - 53,337 |
2020 £ 21,864 254 250 53,120 |
|---|---|
| 53,624 (15,675) |
|
| 37,949 | |
| 59,813 (26,000) |
|
| 33,813 | |
| 33,813 | |
| 47,813 - |
|
| 47,813 |
Approved by the Trustees and Signed on their behalf:
Rev. Julius Dale Olaleye Date
Page 5
CELESTIAL CHURCH OF CHRIST FOUNDERS PARISH Notes to the financial statements for the year ended 31st March 2021
ACCOUNTING POLICIES
The accounts have been prepared in compliance with the statement of Recommended Practice (SORP): Accounting for Charities.
1. GRANTS, DONATIONS ETC
These are recognised in full in the Statement of Financial Activities in the period in which they are received.
2. DIRECT CHARITABLE EXPENDITURE
This comprises all expenditure directly related to the objects of the of the charity. It also includes the expenditure in support of that activity where material.
| Donations Workers/Shepherds Allowance Harvest expenses Pastoral Returns Debtors Sundry Debtors |
2021 £ 500 14,133 802 200 15,634 2021 £ 250 |
2020 £ 2,521 27,885 2,050 1,100 |
|---|---|---|
| 33,556 | ||
| 2020 £ 250 |
4. MANAGEMENT AND ADMINISTRATION
| N Rent & Rates Stationeries & Postage Light & Heat Van Maintenance Church Materials Depreciation Cleaning Expenses Buiding Repairs Travelling Expenses Entertainment Accountancy fees Tax & NI Cost of Processing Gift Aid Telephone Admin Expenses |
2021 £ 21,729 - 492 - 12,217 5,205 400 - - - 500 - 600 607 516 42,267 |
2020 £ 22,162 75 1,808 - 3,259 1,659 726 - 330 - 500 - 1,500 967 3,164 |
|---|---|---|
| 36,149 |
Page 6
5.DEPRECIATION
This has been provided at the following rates in order to write off the assets over their estimated useful lives
| Land | 0% |
|---|---|
| Motor Van | 20% |
| Musical Instrument | 10% |
| Furniture & Fittings | 10% |
| Computer Equipment | 25% |
6. CURRENT LIABILITIES
This represent the accountancy fees and the balance on Electricity Bill
| Church Workers Stipends Others Accountancy Fees |
2021 2020 £ £ 14,000 14,000 75 75 1,600 1,600 |
|---|---|
| 15,675 15,675 |
6A . CREDITORS DUE AFTER MORE THAN ONE YEAR
| Bounce back loan Third Party Loan |
2021 2020 £ £ - 26,000 26,000 |
|---|---|
| 26,000 26,000 |
7. UNRESTRICTED FUNDS
These are grants and donations received or receivable for the objects of the charity without restrictions as to purpose but are available as general funds.
8. RESTRICTED FUNDS
Restricted funds are used for the purpose as specified by the donor. Expenditure that meets these criteria is identified to the fund.
Page 7
| Page 7 | |
|---|---|
| 9. FIXED ASSETS COST/VALUE At 1 April 2020 Additions At 31 March 2021 DEPRECIATION At 1 April 2020 Additions At 31 March 2021 Net Book Value At 31 March 2021 At 31 March 2020 |
Total Land Motor Van Musical Furniture Equipment & Fittings £ £ £ £ £ 45,000 - 13,967 2,620 61,587 - - - - |
| 45,000 0 13,967 2,620 61,587 |
|
| 25,000 - 13,762 2,358 41,120 5,000 - 205 0 5,205 |
|
| 30,000 0 13,967 2,358 46,325 |
|
| 15,000 0 0 262 15,262 |
|
| 20,000 - 205 262 20,467 |
Page 8