CHRIST DISCIPLES FAITH MINISTRIES FINANCIAL STATEMENT FOR THE YEAR ENDED 31 MARCH 2022
| 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 2022
CHARITY NO.: 1064409
REGISTERED OFFICE: The Gables 1 Welling Road, Orsett, Grays Essex RM16 3DF BANKERS NATWEST LLOYDS 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 2022
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 2022.
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 2022
The Trustees present their report along with the financial statements of the charity for the year ended 31[st] March 2022. 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.
Page 3
CHRIST DISCIPLES FAITH MINISTRIES REPORT OF THE TRUSTEES (CONTD.) FOR THE YEAR ENDED 31 MARCH 2022
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 2022
Unrestricted Restricted EndowmentTotal Funds
| INCOME Incoming resources from donors Other incoming resources TOTAL INCOMING RESOURCES RESOURCES EXPENDED Costs of generating funds Missionary and Charitable giving Activities directly relating to the work of the church Church management and administration TOTAL RESOURCES EXPENDED |
Notes 2 3 3a 3b 3c |
Funds £ 42,237 - 42,237 43,875 - 20,233 6,812 70,920 |
Funds £ - - - - - - - - |
Funds £ - - - - - - - - |
2022 £ 42,237 - 42,237 43,875 - 20,233 6,812 70,920 |
2021 £ 45,341 - 45,341 |
|---|---|---|---|---|---|---|
| 14,586 - 19,158 11,860 |
||||||
| 45,604 |
NET INCOMING/(OUTGOING) RESOURCES (28,683) - - (28,683) (263) GAINS AND LOSSES ON INVESTMENTS - - - - - NET MOVEMENT IN FUNDS (28,683) - - (28,683) (263)
Page 5 CHRIST DISCIPLES FAITH MINISTRIES BALANCE SHEET AS AT 31 MARCH 2022
FIXED ASSETS
Tangible Assets
CURRENT ASSETS
Debtors & Prepayments Bank/Cash Balances
----- Start of picture text -----
2022 2021
Notes £ £ £ £
4 331 487
5 0 0
2,359 32,006
2,359 32,006
----- End of picture text -----
CURRENT LIABILITIES
Creditors and Accruals 6 805 1,925 1,554 30,081 1,885 30,568 LONG CURRENT LIABILITIES Loan - Bounced Back Loan ~~30,000 30,000 (28,115) 568~~
UNRESTRICTED FUNDS
Accumulated Funds B/F 568 831 Net movement in funds (28,683) (263) Prior Year Adjustment Accumulated Funds C/F (28,115) 568
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 2022
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 in accordance with applicable accounting standards.
-
b. General accumulated funds are unrestricted funds available to the church for its general purposes and 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 the 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:
| 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 | Endowment Funds £ - - - - - |
2022 2021 £ £ 9,943 11,114 19,887 22,228 3,314 3,705 9,093 8,294 42,237 45,341 Total Funds |
|---|---|---|---|---|---|---|---|
| Funds £ 9,943 19,887 3,314 9,093 42,237 |
Funds £ - - - - - |
||||||
Page 7
CHRIST DISCIPLES FAITH MINISTRIES NOTES TO THE FINANCIAL STATEMENTS (CONTD.) FOR THE YEAR ENDED 31 MARCH 2022
| Unrestricted | Unrestricted | Restricted | Restricted | Endowment Funds £ |
2022 2021 £ £ Total Funds |
2022 2021 £ £ Total Funds |
|---|---|---|---|---|---|---|
| Funds £ |
Funds £ |
|||||
| £ |
3. RESOURCES EXPENDED
| 3a. Missionary and charitable giving: 43,875 43,875 3b. Activities directly relating to the work of the Church Church - running expenses 20,002 Church maintenance 0 Training conferences and meeting 0 Expenditure on ministry's magazine and bookstal - Evangelism 120 Welfare 111 20,233 3c. Church management and administration Administration 6,717 Bank Charges 95 6,812 TOTAL RESOURCES EXPENDED 70,920 4 FIXED ASSETS Motor Recording Refubish- Vehicle Equipment ment £ £ £ Cost At 1 April 2021 5,000 34,674 15,291 Additions 0 0 0 5,000 34,674 15,291 Aggregate Depreciation At 1 April 2021 4,999 34,673 15,290 For the year 0 0 0 At 31 March 2022 4,999 34,673 15,290 |
- - - - - - - - - - - - - Musical Equipment £ 40,101 0 40,101 40,100 0 40,100 |
- - - - - - - - - - - - - Computer & Office Equipment £ 18,958 0 18,958 18,699 43 18,742 |
43,875 43,875 20,002 0 0 - 120 111 20,233 6,717 95 6,812 Fixtures & Fittings £ 20,465 0 20,465 20,241 113 20,354 |
14,586 14,586 18,838 0 0 - 120 200 19,158 11,693 167 11,860 45,604 Total £ 134,489 0 134,489 |
14,586 |
|---|---|---|---|---|---|
| 14,586 | |||||
| 18,838 0 0 - 120 200 19,158 |
|||||
| 11,693 167 11,860 |
|||||
| 45,604 | |||||
| 134,002 156 134,158 |
Net Book Value
| At | 31 | March | 2022 | 1 | 1 | 1 | 1 | 216 | 111 | 331 |
|---|---|---|---|---|---|---|---|---|---|---|
| At | 31 | March | 2021 | 1 | 1 | 1 | 1 | 259 | 224 | 487 |
Page 8
CHRIST DISCIPLES FAITH MINISTRIES NOTES TO THE FINANCIAL STATEMENTS (CONTD.) FOR THE YEAR ENDED 31 MARCH 2022
5 DEBTORS AND PREPAYMENTS
| DEBTORS AND PREPAYMENTS | 2022 | 2021 | ||
| Prepayment and Accrued Income | 0 | 0 | ||
| 0 | 0 | |||
| CREDITORS AND ACCRUALS | ||||
| Accountancy and Book-keeping | 805 | 1,925 | ||
| Other Creditors and Accruals | - | - | ||
| 805 | 1,925 | |||
| CLERGY ALLOWANCES | ||||
| Pastors Allowances | - | - |
6 CREDITORS AND ACCRUALS
7 CLERGY ALLOWANCES
No employee received remuneration amounting to more than £50,000 in the year.
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.
Page 9
CHRIST DISCIPLES FAITH MINISTRIES FINANCIAL STATEMENT FOR THE YEAR ENDED 31 MARCH 2022
| 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 2022
CHARITY NO.: 1064409
REGISTERED OFFICE: The Gables 1 Welling Road, Orsett, Grays Essex RM16 3DF BANKERS NATWEST LLOYDS 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 2022
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 2022.
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 2022
The Trustees present their report along with the financial statements of the charity for the year ended 31[st] March 2022. 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.
Page 3
CHRIST DISCIPLES FAITH MINISTRIES REPORT OF THE TRUSTEES (CONTD.) FOR THE YEAR ENDED 31 MARCH 2022
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