2021-03-31-accounts - Christ Disciple Faith Ministries

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CHRIST DISCIPLES FAITH MINISTRIES FINANCIAL STATEMENT FOR THE YEAR ENDED 31 MARCH 2021

CONTENTS 1. CHARITY INFORMATION 2. ACCOUNTANT’S REPORT 3. REPORT OF THE TRUSTEES 4. BALANCE SHEET 5. INCOME AND EXPENDITURE ACCOUNT 6. NOTES TO THE ACCOUNTS	PAGES
	1 2 3-4 5 6 7-9

CHRIST DISCIPLES FAITH MINISTRIES CHARITY INFORMATION FOR THE YEAR ENDED 31 MARCH 2021

CHARITY NO.: 1064409 REGISTERED OFFICE: The Gables 1 Welling Road, Orsett, Grays Essex RM16 3DF BANKER NATWEST 60-18-20 ACCOUNTANTS: Colinson and Company Ltd. Accountants & Tax Consultants 210 Church Road, Room 113 Regent 88 Offices Leyton. London E10 7JQ

Page 1

ACCOUNTANTS’ REPORT TO THE TRUSTEES OF CHRIST DISCIPLES FAITH MINISTRIES FOR THE YEAR ENDED 31 MARCH 2021

We have examined the financial statements on pages 5 to 6 which have been prepared under the accounting policies set out on page 4 for the year ended 31 March 2021.

Respective responsibilities of Trustees and Examiner

The Trustees are responsible for the preparation of accounts, and they consider that an audit is not required for this year (under section 43(2) of the Charities Act 1993 (the 1993 Act) and that an independent examination is needed.

It is our responsibility to

examine the accounts (under section 43(3)(a) of the 1993 Act);
to follow the procedures laid down in the General Directions given by the Charity Commissioners (under section 43(7)(b) of the 1993 Act); and
to state whether particular matters have come to my attention.

Basis of Opinion

We conducted our examination 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 I do not express an audit opinion on the view given by the accounts.

Opinion

In connection with the 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 41of the 1993 Act; and
to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 1993 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.

COLINSON AND COMPANY LTD ACCOUNTANTS & TAX CONSULTANTS

210 CHURCH ROAD, ROOM 113 REGENT 88 OFFICE, LEYTON LONDON E10 7JQ

DATE ..............................…............

Page 2

CHRIST DISCIPLES FAITH MINISTRIES REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021

The Trustees present their report along with the financial statements of the charity for the year ended 31[st] March 2021. The financial statements have been prepared in accordance with the accounting policies set out on page 4 and comply with the charity’s trust deed and applicable below.

Constitution and objects

Christ Disciples Faith Ministries is constituted under a trust deed and is a registered charity number 1064409.

The objects of the charity are worshipping of God, spreading the word and preaching the Gospel of Christ and the life after life. To contribute to the health and educational needs of the community.

Organisation

The trustees who have served during the year and since the year end are set out below: -

Rev. Stephen Popoola Rev. Samson Adeboye Adegboyega Re. Oluwole Adeleke Bella Rev. Rachel Popoola

Reserves Policy

It is the policy of the charity to maintain unrestricted funds, which are the free reserves of the charity, at a level which equates to approximately six months unrestricted expenditure. This provides sufficient funds to cover management and administration and support costs and to respond to emergency applications for grants which 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 confirm that systems have been established to enable regular reports to be produced so that the necessary steps can be taken to lessen these risks.

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CHRIST DISCIPLES FAITH MINISTRIES REPORT OF THE TRUSTEES (CONTD.) FOR THE YEAR ENDED 31 MARCH 2021

Trustees’ responsibilities in relation to the financial statements

Law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year, which give a true and fair view of the charity’s financial activities during the year and of its financial position at the end of the year. In preparing those financial statements, the trustees are required to: -

Select suitable accounting policies and then apply them consistently;
Make judgements and estimates that are reasonable and prudent;
State whether applicable accounting standards and statements of recommended practice have been followed subject to any departures disclosed and explained in the financial statements; and
Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.

The trustees are responsible for keeping accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 1993. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by the trustees and signed on their behalf by:

……………………………………………

Date ………………………….

Page 4

CHRIST DISCIPLES FAITH MINISTRIES STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021

Unrestricted	Restricted	Restricted	Endowment Total Funds Funds 2021 £ £ - 45,341 - - - 45,341 - 14,586 - - - 19,158 - 11,860 - 45,604 - (263) - - - (263)	2020 £ 56,959 - 56,959
Funds £ 45,341 - 45,341 14,586 - 19,158 11,860 45,604 (263) - (263)	Funds £ - - - - - - - - - - -		Funds £ - - - - - - - - - - -

		-
		- - - -		14,308 - 32,826 13,273
		-		60,407
		- -		(3,448) - (3,448)
		-

Page 5

CHRIST DISCIPLES FAITH MINISTRIES BALANCE SHEET AS AT 31 MARCH 2021

FIXED ASSETS Tangible Assets CURRENT ASSETS Debtors & Prepayments Bank/Cash Balances CURRENT LIABILITIES Creditors and Accruals LONG CURRENT LIABILITIES Loan - Bounced Back Loan UNRESTRICTED FUNDS Accumulated Funds B/F Net movement in funds Prior Year Adjustment Accumulated Funds C/F	Notes £ 4 5 0 32,006 32,006 6 1,925 831 (263) 2021	£ £ £ 487 643 0 2,208 2,208 2,020 30,081 188 30,568 831 ~~30,000~~ ~~0~~ ~~568~~ ~~831~~ 4,279 (3,448) 568 831 2020

APPROVED BY THE BOARD OF TRUSTEES ON …………………………………………………

AND SIGNED ON THEIR BEHALF BY: ……………………………………….

Signed ……………………………………………..

The notes on pages 7 to 9 form part of these financial statements

Page 6

CHRIST DISCIPLES FAITH MINISTRIES NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2021

1 ACCOUNTING POLICIES

a. The accounts are prepared under the historical cost convention with the exception of investments which are stated at market value. They comply with the requirements of Statement of Recommended Practice Accounting Charities' ('SORP') and are accordance with applicable accounting standards.
b. General accumulated funds are unrestricted funds available to the church for its general purposes an include funds designated by the Church for a particular purpose; the use of such designated funds remains at the discretion of the Church's Trustees.
c. There is no Restricted Fund at the moment.
d. The governance, management and administration expenses reported in note 3 relate to the whole of th Church's activities and a proportion of these charges are allocated to expenditure headings on a basis consistent with the use of the resources.
e. Investments are stated at market value. It is the Church's policy to keep valuations up to date such that when investments are sold there is no gain or loss arising to previous years.
f. Tangible assets are included at cost and depreciation is provided on a straight line basis, in order to write off the assets over their useful lives.
g. All expenditure is accounted for on an Accrual Basis.

The depreciation rates are as follows:

Motor Vehicle	20%
Recording Equipment	10%

Refurbishment	10%
Musical Equipment	10%
Computer and Office Equipment	10%
Fixtures and Fittings	10%

2

INCOMING RESOURCES Collection Tithes & Appeal Other income Gift Aid TOTAL INCOMING RESOURCES	Unrestricted	Unrestricted	Restricted	Restricted	Restricted	Endowment Funds £ - - - - -	2021 2020 £ £ 11,114 12,795 22,228 25,590 3,705 5,970 8,294 12,604 45,341 56,959 Total Funds	2021 2020 £ £ 11,114 12,795 22,228 25,590 3,705 5,970 8,294 12,604 45,341 56,959 Total Funds
		Funds £ 11,114 22,228 3,705 8,294 45,341		Funds £ - - - - -
					-			56,959

Page 7 CHRIST DISCIPLES FAITH MINISTRIES NOTES TO THE FINANCIAL STATEMENTS (CONTD.) FOR THE YEAR ENDED 31 MARCH 2021

Restricted	Restricted	2021 2020 £ £ 14,586 14,308 14,586 14,308 18,838 28,901 0 310 0 600 - - 120 1,570 200 1,445 19,158 32,826 11,693 12,701 167 572 11,860 13,273 60,407 Total Funds
Funds £ - - - - - - - - - - - - -
	- - - - - - -	14,308
		28,901 310 600 - 1,570 1,445 32,826
	- - -
		12,701 572 13,273
	- -
		60,407

4 FIXED ASSETS Cost At 1 April 2017 Additions Aggregate Depreciation At 1 April 2019 For the year At 31 March 2020 Net Book Value At 31 March 2021 At 31 March 2020	Motor Vehicle £ 5,000 0 5,000 4,999 0 4,999 1 1	Recording Equipment £ 34,674 0 34,674 34,673 0 34,673 1 1	Refubish- ment £ 15,291 0 15,291 15,290 0 15,290 1 1	Musical Equipment £ 40,101 0 40,101 40,100 0 40,100 1 1	Computer & Office Equipment £ 18,958 0 18,958 18,656 43 18,699 259 302	Fixtures & Fittings £ 20,465 0 20,465 20,128 113 20,241 224 337	Total £ ###### 0 ######


							###### 156 ######
							487 643

Page 8

CHRIST DISCIPLES FAITH MINISTRIES NOTES TO THE FINANCIAL STATEMENTS (CONTD.) FOR THE YEAR ENDED 31 MARCH 2020

5 6 7	DEBTORS AND PREPAYMENTS 2021 Prepayment and Accrued Income 0 0 CREDITORS AND ACCRUALS Accountancy and Book-keeping 1,925 Other Creditors and Accruals - 1,925 CLERGY ALLOWANCES Pastors Allowances - No employee received remuneration amounting to more than £50,000 in the year.	2020 0 0 2,020 - 2,020
		-

8 FUNDS

Unrestricted funds comprise those funds which the trustees are free to use in accordance with the charitable objectives.

This is an unincorporated charity, constituted by trust deed. It's principal objective is spreading the word and preaching the Gospel of Christ and the life after life. To contribute to the health and educational needs of the community. It has unrestricted funds. Accordance with the SORP and with applicable accounting standards.

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