CELESTIAL CItURCH OF CHRIST U K DIOCESE ACCOUNTS FOR THE YEAR 2024 COLINSON AND COMPANY LTD Accountants and Tax Consultants Regent 88, Unit 3 210 Church Road Leyton London, EIO 7JQ Tel: 0208 127 1180 Email-colinsonandco@gmail.com
CELESTIAL CItURCH OF CKRIST UK DIOCESE Report and Accounts Contents Page Charity Information Trustees, Annual Report Independent Examiller's Report Funds StatemeDts:_ Statement of Financial Activities Statement of Total Recognised Gains and IA Movements in Funds Income alld Expenditure Account Balance Sheet Notes to the Accounts 9-11
CELESTIAL CHURCH OF CIIRIST UK DIOCESE Company Illformation Reglstered Charity Number 1056627 Company Registration Number 3217294 Registered oftfice 20 Billington Road London SE14 5DG Secretary Reverend Emmanuel Adeolu Oloyede Accountants Colinson and Company Ltd Unit 3 Regent 88 21 O Church Road London EIO 7JQ HSBC 90 Deptford High Street London SE8 4RQ
CELESTIAL CIIURCH OF CHRIST UK DIOCESE Trustee's Annual Report for the year ended 30 June 2024 The Trustees present their Report and Accounts for the year ended 30 June 2024, which also comprises the Directors, Report required by th¢ Companies Act 2006. Legal structure of the cbarity The governing document of the charity is the Memorandum and Articles of Association establishing the company under company legtslation. By operation of law all, trustees are directors under the Companies Act 2006 and all directors are trustees under Charities legislation and have responsibilities. &s such, under both company and charity legislation. The registered office of the charity for Companies Act purposes is the same as the operdting address shown above. The Trustees in office on the date the report was approved were:_ l. Rev. Emmanuel Mobiyina Friday Oshoffa (Chairnian) 2. Rev. Amos Fatusin (Vice Chairman) 3. David Agunbiade (General Secretary) 4. Emmanuel Ayoola Osho (Treasurer) 5. John Baptist Maforikan 6. Abayomi Oni 7. Sunday Onabanjo 8. Anthony Onome Emmanuel 9. Michael Akinbcmle Akinfala 10. Mary Salu I l. Madinat Aduke Oyenuga Financial Review and Investment Policy The charity's sources of funds are pastordl returns. tithes, donations, gift5 (faith seed) and thanksgiving offerings, which can be used in accordance with its aims and objectives. There are no restrictions on the church to invest. The investment strategy is set by the Trustees, taking into accounL the demand for funds and the quality of investments. Reserves Policy It is the policy of the charity to maintain unrestricted funds. which are the free reserves of the charity, at a l¢v¢l wnsid¢r¢d only suificient to cover a reasonable riod of cxpendTtur¢. This provides sufficient funds to cover management and administration and support costs and to respond to applications foi grants which may arise from time to time. Unrestricted funds were maintained at this level throughout the year. Risk Management The Trustees have examined the major strategic. business and operational risks which the charity faces and confirni that systems have been established to enable regular reports to be produced so that the necessary steps can be taken to lessen these risks. On behalf of the Board: Reverend Emmanuel Ayoola Osho Trustee 19 April 2025
CELESTIAL CHURCH OF CHRIST UK DIOCESE Report of the Independent Examiner to the Trustees of the Charitable Company on the Accounts for the Year Ended 30 June 2024 I report on the financial statements of the charitable company on pages 4 to I I for the year ended 30 June 2024 which have been prepaTed in accordance with the Charities Act 2011 (the Act) and with the Financial Reporting Standard 102, (efftIvc 1° January 2016) adapted to meet the needs of unincorporated organisations, as modified by FRS 102 SORP (Slatem¢nt of Recommended Practice for Accounting and Reporting by Charities) 2015 (as amended by the Bulletin tssued in February 2016) published by the Charity Commission in England & Wales (CCEW). effective JanLWy 2015 (The SORP), under the historical cost convention and the accounting w)Iicies Set out on page 9. Respective responsibilities of Trustees and Independent Examiner As described on page 2, the charitable company's Trustees, who arc also the Directors of the Company for the purposes of Company law, are responsible for the preparation of the financial statements in accordancc with applicable law and United Kingdom Generally Accepted Accounting Practice. applicable to smaller entities. and for Ing satisfied that th¢ financial statements give a true and fair view. The trustees consider that the audit requirement of section 144(1) of the Charities Act 2011 (the Act) does not apply and that there is no requirement tn the Governing Document for the conducting of an audit. As a consequence, the Trustees have elected that the financial statetnents be subject to independent examination. The Trustees are also responsible forthe contents of the Trustees, report. and the statutory responsibility of the Independent ExaTniner in relation to the Trustees, report is limited to examining the report and ensuring thal on the face of the reporL there are no material inconsistencies with the figures disclosed in the financial statements. I planned and perfornled my examination so as to satisfy myself that the objectives of the independent Examination are achieved and before finalising the report l obtained written assurances from the Trustees of all material matters. Colinson and Company Ltd Regent 88 Unit 3 210 Church Road London E107JQ This report was signed on 19 April. 2025
Celestial Church of Christ U. K. Diocese ststement of Financial Activities For The Year Ended 30 June 2024 SORP Ref Current Year Current Year Current Year Prior Year Unrestrirted Restritted Total Total Funds Funds Funds Funds 2024 2024 2024 2023 Income Donations & Legacies Investment Income Other Income 50,821 26,571 50,821 26,571 59,931 21,467 Total Income 77,391 77,391 81.398 Expenditure Cost of Raising Funds Expenditure on Charitable Attivities Tax on Surplus on Ordinary Activitie5 66,558 66,558 34,553 Total Expenditure 66,558 66,558 34,553 Net Income For The Year 10,833 10,833 46,845 Net Income After Transfers 10,833 10,833 46,845 Net Movement In Funds 10,833 10.833 46,845 Reconciliation of Funds:_ Total Funds Brought Forward 652,964 652,964 606,119 Total Funds Carried Forward 663,797 663,797 652,964 All prior year transattions were unrestritted items, and no further analysis is required All artivities derive from continuing operations The notes attached on pages 9 to 11 fonn an integral part of these accounts. A Statement of Totsl Recognised Gains and10sses is included in these accounts as a separate statement
Celestial Church of Christ U. K. Diocese Statement of Financial Activities For The Year Ended 30 June 2024 ststement of Total Recognised Gains and Losses for the year ended 30 June 2024 2024 2023 Surplus for The Year: Net Excess of Expenditure Over Income from Operations before Tax 10,833 46,845 Income from Operations Before Tax in The Ststement of Financial Activitie 10,833 46,845 Taxation Arising in The Year Funds Generated in The Year as shown on Statement of Financial Activitie 10,833 46,845 The Notes attached on pages 9 to 11 form an integral part of These Accounts Celestial Church of Christ U. K. Diocese - Resources Applied in The Year Ended 30 June 2023 Towards Fixed Assets for Charity use: 2024 2023 Funds Generated in The Year as Detsiled in The SOFA Net Resources Available to Fund Charitable Activities 10,833 10,833 46,845 46,845 The Notes attached on pages 9 to 11 fomi an integral part of These Accounts
Celestial Church of Christ U. K. Diocese ststement of Financial Activities For The Year Ended 30 June 2024 Movements in The Revenue and Capital Funds for The Year Ended 30 June 2024 Revenue Accumulated Funds Unrestricted Restricted Funds Funds Total Prior Year Total Funds Funds 2024 2024 2024 2023 Accumulated Funds Brought Forward 652,964 652,964 606,119 Recognised Gains and Losses Before Transfer, 10,833 10,833 46,845 663,797 663,797 652,964 Closing Revenue Funds 663,797 663,797 652,964 Summary of Funds Unrestricted Restricted and Designated Funds Funds Total Prior Year Total Funds Funds 2024 2024 2024 2023 Revenue Accumulated Funds 663.797 663,797 652,964 The Notes attached on pages 9 to 11 fomi an integral part of These Accounts
Celestial Church of Christ U. K. Diocese statement of Financial Activities For The Year Ended 30 June 2024 Income And Expenditure Account For The Year Ended 30 June 2023 As Required By The Companies Act 2006 2024 2023 Income Income From Operations 50,821 59,931 Investsnent Income Income from Investments other than Interest Receivable 26,571 21,467 Gross Income in The Year Before Exceptional Items 77,391 81.398 Gross Income in The Year including Exceptional Items 77,391 81,398 Expenditure Charitable Expenditure, excluding Depreciation and Amortisation Depreciation and Amortisation Funding Costs Governance Costs 48,031 19,580 18,527 14,973 Total Expenditure in The Year 66,558 34,553 Net Income Before Tax in The Financial Year 10,833 46,845 Tax on Surplus on Ordinary Activities Net Income After Tax in The Financial Year 10,833 46,845 Retained Surplus for The Financial Year 10,833 46,845 All Activities Derive from Continuing Operations In accordance with the provisions of the Companies Att 2006, the headings and sub-headings used in the income and Expenditure have been adapted to reflect the special nature of the Chariry's activities. The Notes attached on pages 9 to 11 forni an integral part of These Accounts
Celestial Church of Christ U. K. Diocese Balance Sheet as at 30 June 2024 Notes 2024 2023 Fixed Assets Tangible assets Loan - CCC College (UK) Current Assets Cash at Bank and in Hand 540,000 5,000 540,000 118,977 114,944 Rent Receivable Creditors Amount falling due within one year Net Current Assets -180 -1,980 118,797 112,964 Net Assets 663,797 652,964 Net assets are funded by the funds of the charity as follows:_ Unrestritted Funds Unrestricted Reserve Funds Unrestritted Revaluation Reserve 663,797 652,964 663,797 652,964 Total Charity Funds 663,797 652,964 The directors are satisfied that the company is entided to exemption from the requirement to obtsin an audit under settion 477 of the Companies Att 2006. The members have not required the company to obtain an audit in accordance with section 476 of the Act. The diresctors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. The charity is subjett to Independent Examination under charity legislation and the report of the examiner is on page 3. The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Att 2006 applicable to companies subject to the small companies regime. REVD EMMANUEL AYOOLA OSHO Trustee Approved by the Board of Trustees on 19 April 2025 The Notes attached on pages 9 to 11 forni an integral part of These Accounts.
CELESTIAL CHURCH OF CHRIST UK DIOCESE Notes to the Accounts for tbe year emded 30 June 2024 Accounting policies Polici relating ¢0 ¢be production of tbt accounts. B&sis of preparation and acco)ting c4)nvention The a¢¢ounts have been prepared on the ac¢rua]s basis, UTJder the hisiorical cosi ConvenOll, and in accordance with the Financial Report]ng Standard 102. (effective I" January 2016) alld FRS 102 SORP {Statetnent of Recommended Practice foT Accounting and R¢porting by ChaT]ii) 2015 (a5 am¢nded by the Bulletin issued in Febnwy 2016 published by the Charity CoTnmission in England & Wal¢s (CCEW) effective January 2016. (The SORP}. and in accoidance with all applicable law in the charity's jurisdiction of registration. except that the charity has prepared the financi statements in accordance with FRS 102 SORP (Sthtement of RecOMendation PtI¢¢ for A0tIng and Reporting by Chariues) 2015 (as amended by the Bulletin issued February 2016) in preference to the previous SORP, the SORP 2005, which h#s been withdrawn, notwithstanding the fact ihe extant ststytory regulations, the charits'es {Accounts and Reports) Regu12ts"ons 2008 referexplieidy to the SORP 2005 Thi5 ha5 been done to accord with current besi practice. Policies relating to categories ofiDeome iTrcome recogDitioD Nature of in¢•rne Incoming r¢sources accounted for on a receivabl¢ basis. Ineome recogDitiOD Incom¢. whether from exchange or non<x¢hmge tya)sa¢tions is rrcognised in the siatement of financiol a¢tivities (SOFA) on i fteeivable basis, when a transaction OT other event results in an increase in the charity's assets or a reduettoT] in its liabilities and only when the charity has legat ¢ntitlement. the income is probable and can be rne&sured reliably. Incomc subject lo tern)s and conditsons which must be met before the charity is entslled Lo the resources is not recognis until the conditiolts hav¢ been met. All income is accoted for gros4 beforc deducting any relwed fees or costs Memlxrship subscriptions The income from a membership subsuiptson received by the charity in the natute of a giQ is accounted for on the sarne basis as a donation. The income from a membership subscription receivcd by the charity where the subscription purch&ses the tight to scrvices OT benefits is recognised as Tncome from charitable activiti&8. Poli£ies relating to expenditure on good5 aDd 5ervi¢es provided to tbt ebxrity. Recognition of liabilities 8nd eipeDditure A liability and the related exp¢ndttur< is recognised when a legal or ¢onstru¢tsve obligats'on exists &s a result of a past evenl and when it is more likely than not that a transfrr of economic benefiLS will be requiT¢d in settt¢m¢nL and when the amount of the obligation ean be measured or reliably estimated. Tangible fjxed Issets Tangiblc fixed &8sets are measured & their origina] cost value. or subsequent rcvaiuation. or if donate(L as described Above. C05t value includes all eogts expended in bringtng the &8set into its intended working condition. D¢prtciation h&s been provided at thc following rates in ordeT wrilc off th¢ assets to their &)ticipated sIdUal va]uc over their estimated useful lives. Fre¢hold Ptemi5es straight line
Celestial Church of Christ U. K. Diocese Notes to the Accounts For The Year Ended 30 June 2023 2024 2023 Taxation U K Corporation Tax Trustee's Expenses The Expenses reimbursed to Trustees, or paid directly to third parties, in the current or prior year, was as shown below. 2024 2023 Pastoral Allowance 9,400 7,800 Payments to Head of Diocese (HOD) to cover his Travel Expenses No Trustee or persons connected with them received any Remuneration from the Charity, or any related Entity. 4 Tangible Fixed Assets Land and Buildings Plant and Motor Machinery Vehicles Total Funds Cost At l July 2022 540,000 540,000 Additions At 30 June 2023 540,000 540,000 Depreciation At l July 2022 At 30 June 2023 Net Book Value At l July 2022 540,000 540,000 At 30 June 2023 540,000 540,000 10
Celestial Church of Christ U. K. Diocese Notes to the Accounts For The Year Ended 30 June 2022 2024 2023 Creditors: Amounts falling due within one Year Accruals Estate Agent's Commission Corporation Tax VAT 1,080 1,980 1,080 1,980 Particulars of how particular funds are represented by assets and liabilities At 30 June 2024 Unrestrictei Designated Restricted Funds Funds Funds Total Funds Prior Year Total Funds Tangible Fixed Assets Investments at Valuation Loan - CCC College (UK) Current Assets Current Liabilities 540,000 540,000 540,000 5,000 118,977 -180 5,000 118,977 114,9+1 -180 -1,980 663,797 652,964 663,797 At 1 July 2023 Unrestrictei Designated Restricted Funds Funds Funds Total Funds Total Funds Tangible Fixed Assets Investments at Valuation Current Assets Current Liabilities 540,000 540,000 540,000 114,944 -1,980 652,964 114,944 31,334 -1,980 -1,884 652,964 569,450 7 Analysis of Movements in Funds over the Year Income Expenditure Other Gains Movement Movement & Losses in Funds in Funds 2024 2024 2023 2024 2024 Unrestricted and Designated Funds." Unrestricted Revenue Funds 77,391 77,391 The purposes for which the Funds as detailed are held by the Charity are: Unrestricted and Designated Funds:_ Unrestricted funds 66,558 66,558 10,833 10,833 46,845 46,845 These funds are held for meeting the objectives of the charity and to provide reserves for the future activities and, subject to charity legisla- tion are free from all restrictions on their use 11