2024-03-31-accounts - Christ Disciple Faith Ministries

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CHRIST DISCIPLES FAITH MINISTRIES FINANCIAL STATEMENT FOR THE YEAR ENDED 31 MARCH 2024

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 2024

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 2024

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 2024.

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 210 CHURCH ROAD, ROOM 113 ACCOUNTANTS & TAX REGENT 88 OFFICE, LEYTON CONSULTANTS LONDON E10 7JQ

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

Page 2

CHRIST DISCIPLES FAITH MINISTRIES REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

The Trustees present their report along with the financial statements of the charity for the year ended 31[st] March 2024. 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 2024

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 2024

Unrestricted Restricted Endowment Total 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	Notes 2 3 3a 3b 3c	Funds £ 46 710 - 46 710 10 095 - 26 975 6 754	Funds £ - - - - - - -	Funds £ - - - - - - -	2024 £ 46 710 - 46 710 10 095 - 26 975 6 754	2023 £ 47 507 - 47 507

						7 005 - 29 052 4 885

TOTAL RESOURCES EXPENDED NET INCOMING/(OUTGOING) RESOURCES GAINS AND LOSSES ON INVESTMENTS NET MOVEMENT IN FUNDS	43 824 2 886 - 2 886	- - - -	- - - -	43 824 2 886 - 2 886	40 942	40 942
						6 565 - 6 565

Page 5 CHRIST DISCIPLES FAITH MINISTRIES BALANCE SHEET AS AT 31 MARCH 2024

----- Start of picture text -----
FIXED ASSETS
Tangible Assets
----- End of picture text -----

----- Start of picture text -----
2024 2023
Notes £ £ £ £
4 135 178
----- End of picture text -----

CURRENT ASSETS

Debtors & Prepayments 5 0 Bank/Cash Balances 435 435 CURRENT LIABILITIES Creditors and Accruals 6 805 LONG CURRENT LIABILITIES Loan - Bounced Back Loan UNRESTRICTED FUNDS Accumulated Funds B/F (21 550) Net movement in funds 2 886 Prior Year Adjustment Accumulated Funds C/F	0 2 688 2 688 805 -370 -235 18 429 (18 664) (28 115) 6 565 (18 664)	1 883 2 061 23 611 (21 550) (21 550)	1 883 2 061 23 611 (21 550)	1 883 2 061 23 611

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 2024

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.

2	The depreciation rates are as follows: Motor Vehicle Recording Equipment Refurbishment Musical Equipment Computer and Office Equipment Fixtures and Fittings INCOMING RESOURCES Collection Tithes & Appeal Other income Gift Aid TOTAL INCOMING RESOURCES	Unrestricted Funds £ 10 973 21 946 3 658 10 133 46 710	Restricted Funds £ - - - - -	Restricted Funds £ - - - - -	Restricted Funds £ - - - - -	20% 10% 10% 10% 10% 10% Endowment Funds £ - - - - -	2024 2023 £ £ 10 973 12 610 21 946 25 219 3 658 4 203 10 133 5 475 46 710 47 507 Total Funds

				£
					-

Page 7

CHRIST DISCIPLES FAITH MINISTRIES NOTES TO THE FINANCIAL STATEMENTS (CONTD.) FOR THE YEAR ENDED 31 MARCH 2024

Restricted Funds £ - - - - - - - - - - - - -	Restricted Funds £ - - - - - - - - - - - - -	2024 2023 £ £ 10 095 7 005 10 095 7 005 21 870 24 496 1 060 138 0 0 - 1 390 1 648 2 655 2 770 26 975 29 052 5 455 4 797 1 299 88 6 754 4 885 40 942 Total Funds

£
	- - - - - - -
	- - -
		4 797 88 4 885 40 942
	- -

FIXED ASSETS

Computer

Motor Recording Refubish- Musical & Office Fixtures Vehicle Equipment ment Equipment Equipment & Fittings £ £ £ £ £ £ Cost At 1 April 2022 5 000 34 674 15 291 40 101 18 958 20 465 Additions 0 0 0 0 0 0 5 000 34 674 15 291 40 101 18 958 20 465 Aggregate Depreciation At 1 April 2022 4 999 34 673 15 290 40 100 18 785 20 464 For the year 0 0 0 0 43 0 At 31 March 2023 4 999 34 673 15 290 40 100 18 828 20 464 Net Book Value At 31 March 2024 1 1 1 1 130 1 At 31 March 2023 1 1 1 1 173 1 5 DEBTORS AND PREPAYMENTS 2024 Prepayment and Accrued Income 0 0 Page 8 CHRIST DISCIPLES FAITH MINISTRIES NOTES TO THE FINANCIAL STATEMENTS (CONTD.) FOR THE YEAR ENDED 31 MARCH 2024	Total £ 134 489 0 134 489
	134 311 43 134 354
	135 178 2023 0 0

Motor
Recording
Refubish-
Musical
& Office
Fixtures
Vehicle
Equipment
ment
Equipment
Equipment
& Fittings
£
£
£
£
£
£
Cost
At 1 April 2022
5 000
34 674
15 291
40 101
18 958
20 465
Additions
0
0
0
0
0
0
5 000
34 674
15 291
40 101
18 958
20 465
Aggregate Depreciation
At 1 April 2022
4 999
34 673
15 290
40 100
18 785
20 464
For the year
0
0
0
0
43
0
At 31 March 2023
4 999
34 673
15 290
40 100
18 828
20 464
Net Book Value
At 31 March 2024
1
1
1
1
130
1
At 31 March 2023
1
1
1
1
173
1
5 DEBTORS AND PREPAYMENTS
2024
Prepayment and Accrued Income
0
0
Page 8
CHRIST DISCIPLES FAITH MINISTRIES
NOTES TO THE FINANCIAL STATEMENTS (CONTD.)
FOR THE YEAR ENDED 31 MARCH 2024

Total
£
134 489
0
134 489

134 311
43
134 354

135
178
2023
0
0

6 CREDITORS AND ACCRUALS

Accountancy and Book-keeping 805 805 Other Creditors and Accruals - - 805 805 CLERGY ALLOWANCES Pastors Allowances - -

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