Charity number: 01063904
CHRIST APOSTOLIC CHURCH - OUTREACH
.
Report of the Trustees and Unaudited Financial Statements
For the year ended 31 December 2023
CHRIST APOSTOLIC CHURCH - OUTREACH Contents Page For the year ended 31 December 2023
| Report ofthe Trustees | 4 |
|---|---|
| Independent Examiner's Report to the Trustees | 2 |
| Statement of Financial Activities | 3 |
| Statement of Financial Position | 4 |
| Notes to the Financial Statements | 5 to 9 |
| DetailedStatementofFinancialActivities | 10 |
CHRIST APOSTOLIC CHURCH - OUTREACH Report of the Trustees For the year ended 31 December 2023
The Trustees have pleasure in presenting their report and the financial statements for the charity for the year ended 31 December 2023. The Trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and the Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The trustees have considered the Charity Commision's guidance on public benefit, including the guidance ‘public benefit: running a charity (PB2)’.
| REFERENCE AND ADMINISTRATIVE INFORMATION | REFERENCE AND ADMINISTRATIVE INFORMATION |
|---|---|
| Name of Charity | CHRISTAPOSTOLIC CHURCH - OUTREACH |
| Charity registration number | 01063904 |
| Principal address | 413 HIGH ROAD |
| TOTTENHAM | |
| LONDON | |
| N17 6RD | |
| Trustees | |
| The trustees and officers serving during the year and since the year end were as follows: | |
| RevAMOS ODUNAYO FASHINA | |
| Rev JOSEPH ADEWUY!I | |
| Mr OLUGBENGA BABATOLA | |
| Rev GBOYEGA OYELADE | |
| (Resigned: 15 September 2019) | |
| Mr S.OLUBISI AKINYEMI | |
| Mr SAM. AAWORINDE | |
| Mr LAYI OPALEKE | |
| MrADEDEJI OLALEYE | |
| Mr SAJILORE | |
| Mr MICHAELAYODEJ! AFOLABI | |
| Mr M.AAJAYI | |
| Rev ENOCK BUNMI FASHINA | |
| Independent examiners | M.AFOLABI & CO LIMITED |
| 133 HESTON ROAD | |
| HOUNSLOW | |
| MIDDLESEX | |
| TW5ORD |
Approved by the Board of Trustees and signed on its behalf by
Mr ADEDEJI OLALEYE
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CHRIST APOSTOLIC CHURCH - OUTREACH
Statement of Financial Activities
For the year ended 31 December 2023
| Notes | Unrestricted | 2022 | |
|---|---|---|---|
| funds | |||
| £ | £ | ||
| Income and endowments from: | |||
| Donations and legacies | 2 | 360,320 | 337,358 |
| Investments | 3 | ||
| Income from investment | 20,700 | 7,790 | |
| properties | |||
| Bank interest receivable | “ | 1_. | |
| Total | 381,020 | 345,149 | |
| Expenditure on: | |||
| Raising funds | 4 | ||
| Costs of generating donations | (290,990) | (310,894) | |
| and legacies | |||
| Fundraising trading: cost of | (28,204) | (44,004) | |
| goods sold and other costs Total |
(319,194) | (354,898) | |
| Net income/expenditure | 61,826 | (9,749) | |
| Reconciliation of funds | |||
| Total funds brought forward | 1,017,943 | 1,027,692 | |
| Totalfundscarriedforward | 1,079,769 | —«‘1,017,943. |
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CHRIST APOSTOLIC CHURCH - OUTREACH
Statement of Financial Position
As at 31 December 2023
----- Start of picture text -----
|||||||||||
|---|---|---|---|---|---|---|---|---|---|
|Notes|2023|2022|
|£|£|
|Fixed|assets|
|Tangible|assets|ts)|1,414,969|1,414,231|
|1,414,969|4,414,231|
|Current|assets|
|Cash|at bank|and|in|hand|7|86,372|72,228|
|86,372|72,228|
|Creditors:|amounts|falling|due within|one year|10|(18,180)|(31,476)|
|Net|current|assets|68,192|40,752|
|Total|assets|less|current|liabilities|1,483,161|1,454,983|
|Creditors:|amounts|falling|due|after more than|one|year|11|(403,392)|(437,040)|
|Net assets|.|1,079,769.|i"|1,017,943;|
|The|funds|of the|charity|
|Unrestricted|income|funds|12|1,079,769|1,017,943|
|Total funds|1,079,769|1,017,943|
----- End of picture text -----
The financial statements were approved and authorised for issue by the Board and signed on its behalf by:
Rev ENOCK BUNMI FASHINA
Trustee
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CHRIST APOSTOLIC CHURCH - OUTREACH Notes to the Financial Statements
For the year ended 31 December 2023
1. Accounting Policies
Basis of accounting
The financial statements have been prepared under the historical cost convention, except for investments which are included at market value and the revaluation of certain fixed assets and in accordance with the Charities SORP (FRS 102) ‘Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)’, Financial Reporting Standard 102 the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), and the Charities Act 2011.
CHRIST APOSTOLIC CHURCH - OUTREACH meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).
2. Income from donations and legacies
| 2023 | 2022 | ||
|---|---|---|---|
| £ | £ | ||
| Unrestricted funds | |||
| Donations received | 301,200 | 295,370 | |
| Grants received | 59,120 | 41,988 | |
| 360,320 | 337,358 | ||
| 3. | Investment income | ||
| 2023 | 2022 | ||
| £ | £ | ||
| Unrestricted funds | |||
| Income from investment | 20,700 | 7,790 | |
| properties | |||
| Bank interest receivable | - | 1 | |
| 20,700 | 7,791 | ||
| 4. | Expenditure on generating donations and legacies | ||
| 2023 | 2022 | ||
| £ | £ | ||
| Unrestricted funds | |||
| Donations | 133,640 | 161,163 | |
| Subscriptions | 2,001 | 2,205 | |
| Support costs | 155,349 | 147,526 | |
| 290,990 | 310,894 |
4. Expenditure on generating donations and legacies
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|
CHRIST APOSTOLIC CHURCH - OUTREACH Notes to the Financial Statements Continued For the year ended 31 December 2023
5. Analysis of support costs
| Analysis of supportsupport costs | ||
|---|---|---|
| 2023 | 2022 | |
| £ | £ | |
| Voluntary Income | ||
| Support cost 5 | 123,647 | 113,096 |
| Governance costs | 59,906 | 78,434 |
| 183,553 | 191,530 | |
| Net income/(expenditure) forthe year | ||
| This is stated after charging/(crediting): | ||
| 2023 | 2022 | |
| £ | £ | |
| Staff pension contributions | 3,393 | 647 |
| Staff costs | ||
| Total staff costs for the yearended 31 December2023 were: | ||
| 2023 | 2022 | |
| £ | £ | |
| Salaries and wages | 120,271 | 146,903 |
| Social security costs | 7,814 | 4,059 |
| Pension costs | 3,393 | 647 |
| 131,478 | 151,608 | |
| 2023 | 2022 | |
| Ministers and ancilliary workers. | 0 | 10 |
| 0 | 40 |
6. Net income/(expenditure) for the year
7. Staff costs
8. Comparative for the Statement of Financial Activities
The comparative year values on the Statement of Financial Activites are for unrestricted funds.
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CHRIST APOSTOLIC CHURCH - OUTREACH Notes to the Financial Statements Continued For the year ended 31 December 2023
9. Tangible fixed assets
| Cost or valuation | Land and buildings |
Multimedia Equipments |
Motor vehicles |
Fixtures and fittings |
Fixtures and fittings |
Computer equipment |
Computer equipment |
Total | |||
|---|---|---|---|---|---|---|---|---|---|---|---|
| £ | £ | £ | £ | £ | £ | ||||||
| At 01 January 2023 | 1,408,484 | 64,368 | 2,340 | 36,082 | 24,283 | 1,535,557 | |||||
| Additions | - | 2,900 | - | ee | = | 2,900 | |||||
| At 31 December2023 | 1,408,484 | 67,268 | 2,340 | 36,082 | 24,283 | 1,538,457 | |||||
| Depreciation | |||||||||||
| At 01 January2023 | - | 61,690 | 2,028 | 34,609 | 22,999 | 121,326 | |||||
| ealleeLia At 31 December2023 |
; | - - |
Eos 63,085 |
oO 2,106 i. |
atime : |
igh 34,977 - |
en | mniges ie 23,320 |
tisaemtet | NE 123,488 |
|
| Net book values | |||||||||||
| At 31 December2023 | 1,408,484 | 4,183 | 234 | — | 1405 | 963 | 1,414,969 | ||||
| At 31 December 2022 | 1,408,484 | 2,678 | = | 312 | 1,473 | 1,284 | 1,414,231 |
The depreciation charge for the year is £(22,809) in respect of assets leased under finance leases or hire purchase contracts.
10. Creditors: amounts falling due within one year
| 2023 | 2022 | ||||
|---|---|---|---|---|---|
| £ | £ | ||||
| Other | creditors | 18,180 | 31,476 | ||
| _ | 18,180 | - | 31,476 |
11. Creditors: amounts falling due after more than one year
| Creditors: amounts falling due after more than one year | |||
|---|---|---|---|
| 2023 | 2022 | ||
| £ | £ | ||
| Loans and overdrafts | 403,392 | 437,040 | |
| 403,392 | = | 437,040 | |
| The following liabilities disclosed under creditors falling due aftermore than one year are secured by the charity: | |||
| Bank loans and overdrafts | 367,071 | 392,719 | |
| 367,071 | «= | 392,719 |
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CHRIST APOSTOLIC CHURCH - OUTREACH Notes to the Financial Statements Continued For the year ended 31 December 2023
12. Movement in funds
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|||||||
|---|---|---|---|---|---|
|Unrestricted|Funds|
|Balance|at|Incoming|Outgoing|Balance|at|
|01/01/2023|resources|resources|31/12/2023|
|£|£|£|£|
|General|
|General|1,017,943|381,020|(319,194)|1,079,769|
|1,017,943|~|381,020|(319,194)|1,079,769|
|Unrestricted|Funds|-|Previous|year|
|Balance|at|Incoming|Outgoing|Balance|at|
|01/01/2022|resources|resources|31/12/2022|
|£|£|£|£|
|General|
|General|1,027,692|345,149|(354,898)|1,017,943|
|1,027,692|345,149|~—«|(354,898)|—-1,017,943|
|Purpose|of|unrestricted|Funds|
----- End of picture text -----
General
Charitable activitities
13. Analysis of net assets between funds
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|||||||
|---|---|---|---|---|---|
|Tangible|Netcurrent|Creditors>|Net Assets|
|fixed|assets|assets|/|one|year|
|(liabilities)|
|£|£|£|£|
|Unrestricted|funds|
|General|
|General|1,414,969|68,192|(403,392)|1,079,769|
|1,414,969|68,192|(403,392)|1,079,769|
----- End of picture text -----
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CHRIST APOSTOLIC CHURCH - OUTREACH Notes to the Financial Statements Continued For the year ended 31 December 2023
Previous year
Unrestricted funds General General
| Tangible | Netcurrent | Creditors> | NetAssets |
|---|---|---|---|
| fixed assets | assets / | one year | |
| (liabilities) | |||
| £ | £ | £ | £ |
| 1,414,231 | 40,752 | (437,040) | 1,017,943 |
| “4,414,231 | «40,752 | ~~(437,040)1,017,943 |
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