ST PIARTS (11R OF IIRisr CHARITY No. 1072265 TRUSTEES REPORT AND FINANCIAL STATEMENTS POR TH£Y£AR UDED 31ST WCII 2024
ST MARY'S CHURCH OF CHRIST CONTENTS Pages Administrative Infomiation Trustees Report Independent Examiners, Report Statement of Financial Activities Statement of Financial Position Notes to the Accounts
ST MARY'S CHURCH OF CHRIST Administrative nformation Chairperson Mrs Victoria Ekundayo Other Trustees Evang. Kole Julius Atewologun Dr Mary Oluwatosin Ogunnupebi Mrs Wuraola Awomodu Charity Registered Number 1072265 Registered Office 462 Old Kent Road London SE15AG Independent Examiner Enochs Financial servIs Ltd 15 St Joseph's Close London W10 5GL 07950 490 503 Banker: Barclays Bank
ST MARY'S CHURCH OF CHRIST Trustees Report for the year ended 31st March 2024 The Trustees of the ST MARY'S CHURCH OF CHRIST psent their report and financial statements for the year ended 31 st March 2024. The trustees have adopted the provision of the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities" issued on October 2000 in preparing the annual report and financial statement of the charity. Charity Details A list of names and addresses of the charity's yincipal officers and bankers is set out on page 2. Objectives The charitys, principal activity is the proclamation of the gospel of Jesus Christ. 1 To advance the Ch ristain doctrine {in accordance with the statement of our belief} in such part of the United Kingdom or the world as the trustees from time to lime Ihink fit,- 2 To relieve sickness and financial hardship and to promote and preserve good health by the provision of funds, goods or services of any kind: including through the provision of counselling and support in such parts of the United Kingdom or the world as the trustees from time to time may think fit., 3 To advance education in such ways and in such parts of the United Kingdom or the world as the trustees from time to time may think fit-, 4 The trustees must use the income and may use the capital of the church in promoting the objects. Organisation ST MARY'S CHURCH OF CHRIST trustees who ware elected to serve the church and run its affairs. Annually the Board reviews the range of skills available and uses Its power of co-option to ensure the gaps are filled. Risk and Internal Control The Trustees review the main operational risks and actions to manage or mitigate it accordingly. Review of Transactions and Financial Position Income Resources The total income of the organisation for the year has been derived from its principal activities wholly undertaken in the United Kingdom. During the year, income resources and gift received totalled £54.954. The donations and gift received have been made available without restriction as to its useage. The balance on the charity's fund are unrestiicted. These will be used to fund the Gharity's objectives during the next financial year. The trustees confirmed that the charity's assets are available and adequate to enable the charity fulfil its obligations. Reserve Policy Freely available reserves are a pool of unapplied reSoUrS available to meet future demands on the charity's resources. This is generally purpose money that can be spent on any of the purposes of the charity. Free reserves of the charity are represented by its unrestricted funds less the net book value
ST MARY'S CHURCH OF CHRIST Trustees Report for the year ended 31st March 2024 Statements of the Trustees. Responsibilitles Law applicable lo charities in England and Wales requires the trustees lo prepare financial statements for each financial year which give true and fair view of the charity's financial activities during Ihe year and of ils Financial posib'on at the end of Ihe year. In preparing those financial statements, the truslees are requuired to. al Select suitable accounting policies and apply them consistenuy., bl Make judgement and estim31es that are responsiblè and prudent., c) Stale whether applicable accounting standards and statements of recommended practice have been followed, subject to many departures disclosed and explained In the financial stalement.. d) Prepare the financial slatemenls on a going concein basis unless it is inappropraite to presume that the charity will continue on Ihal basis The Trustees are responsible for ensuring thal propef books are maintaned, for safe guiding the assets of the charity. and taking reasonable steps for the prevention and delection of fraud and olher IrregLilarilies. The board has reviewed the effeclivesness of the system of internal control and Ihereaie no material weaknesses thal would resulted in losses, contenc[eS and uncertai s that require a separate disclosure in these accounts. Mary Ogunnupebi Ti'ustee Victoria Ekundayo Trustee
ST MARY'S CHURCH OF CHRIST Report of the Independent Examiner to the trustees on the accounts of the Charity for the year ended 31 March 2024 I report on the financial statements of the Charity on which have been prepared in accordance with the Charities Act 1993 and with the Financial Reporting Standard for Smaller Enttties {FRSSE) effective April 2008. as modified by the statement of Recommended Practice for Accounting and Reporting issued by the Charity Commission for England & Wales. effective April 2005 as modified in June 2008. (The SORP), under the historic cost convention and the accounting policies set out onpages7to 11. Respective Responsibilities of Trustees and Examiner The Charity's trustee are responsible for the preparation of the financial statements. The trustees have acknowledged there responsibilities as stated on page 2 of the financial statement and has taken advantage of the exemption appIable to small companies. The trustees are satisfied that the audit requirement of Section 42(2} of the Charities Act 1993 does not apply and that the accounts do not require an audit in accordance with Part 16 of the Companies Act 2006 and that no member or members have requested an audit pursuant to section 476 of the Companies Act 2006, and that there is no requirement in the governing document or constitution of the Charity for the conducting of an audit. As a consequence, the trustees have elected that the financial statements be subject to independent examination. Having satisfied myself that the charity is not subject to audit under company law, or otherwise, and is eligible for independent examinatK)n, it is my responsibility to'.- a) examine the accounts under section 43 of the Act., b) to follow the piocedures laid down in the General Directions given by the Charity Commission section 43{71(b) of the Act, c) to state whether particular matters have come to my attention. Basis of Opinion and Scope of Work Undertaken I conducted my examination in accordance with the General Directions given by Charity Comrnissioners for England & Wales setting out the duties of an independent examiner. It is my responsibility to form an independent opinion as to the charity entitlement to the exemption claimed by the trustee. I have carried out the produre we considered necessary to confirm whether or not the charity is entitled to the exempb'ons. I have compared the accounts with accounting records kept by the charity and making such limited enquiries of the trustees of the charity, which I considered necessary for the purFK)se of this report. These procedures provided only the assurance expressed by me to the trustees and members of the committee. Independent Examiner's Statement, Report and Opinion Subject to the lirnitations upon the scope of my work as detailed above. in connection with my examination, I can confirm that., 11 In accordance with Regulation 31 of the Charily (Accounts and Report> Regulations 2008, the accounts of this Gharity are not required to be audited under section 477 of the Companies Act 2006
ST MARY'S CHURCH OF CHRIST 2) This report in respect of an examination carriecl out under section 43 of the Charities 1993 and in accordance with any directions given by the Commission under sub-section (7)(b) of that section which are applicable., (i) the accounting records are kept in accordance with section 386 of the Companies Act 2006 (ii) the financial statements were prepared in accord with the accounting records and comply with the accounting requirements of section 396 of the Companies Act 20C and,. (iii) the financial statements were prepared in accordance with the methods and principles set out in the statement of Recommended Practice - Accounting and ReF)Orting by Charities. Wale Ajibol Enoch's Financial SeNi¢es Ltd 15 St Joseph's Close London W10 5GL
ST MARY'S CHURCH OF CHRIST Charity No. 1072265 STATEMENT OF FINANCIAL ACTIVITIES For the year ended 31 March 2024 Unrestricted Restricted Total funds 2024 funds 2024 funds 2024 2023 Notes Receipts Tithes, Offering and Thanksgiving 38.112 38,112 277,679 Gift Aid and Donations 16,842 16,842 95,226 Total Receipts 54,954 54,954 372,905 Payments Cost of activities in furtherrances of charitys, objectives Managernent & Administration of charity 6.3 34,650 3.345 12,455 4,465 47,105 7,810 280,150 44,975 Total Payments 37,995 16,920 54,915 325.125 Net Income (Outgoing) Resources Net Movement in Funds Cash Funds BIF Adjustment 16,959 -16,920 39 47,780 130,904 47,794 83,110 35,330 Cash Funds this year end 147 863
ST MARY'S CHURCH OF CHRIST Charity No. 1072265 STATEMENT OF FINANCIAL POSITION AS AT 31ST MARCH 2024 Unrestricted Restricted Total 2024 2024 2a24 2023 Notes Assets Retained for Charity's own use Tangible Assets 7.219 14,116 21,335 23.205 Cash Funds Biiilding Fund Debtors CashlBank 10,165 2,445 47.209 59,819 1,750 11,915 12.815 2.245 47.095 62,155 2,245 3,995 49,454 63.814 Othei. Monetary Assels AmoLinl diie wrthin one year 1,500 500 2.000 2,250 NET CURRENT ASSETS 58.319 3,495 61,814 59,905 TOTAL ASSETS LESS CURRENT LIABILITIES 65,538 17,611 83.149 83,110 Liabilities Amount falling due more than one year TOTAL NET ASSETS G harity Fuiids Unresli icted General Funds BIF Nal Income for the Year Adjuslmenl TOTAL FUNDS 130,904 16.959 47.794 -16,920 83.110 39 35.330 47,780 147 863 Signed on behalf of all truslees. Name.. Victoria Ekund8yo (Trustee) Signature Date.. 2311212024 Name.. Mary Ogunnupebi {Trusteel Signature Date.. 2311212624
ST MARY'S CHURCH OF CHRIST NOTES TO THE ACCOUNTS Notes to the Accounts for the year ended 31st March 2024 Accounting Policies Basis of Preparation The accounts have been prepared under the historic cost convents'on and in accordance with the Financial Reporting Standards Entities (effective April 2008). Incoming Resources Incomesare mainly from grants and sundry incomes received and included In the financial statement when received. This incoming resources represents money incomes for the reporting period Resources Expended All expenditures are accounted for on accrual basis and have been classified under headings that aggregate all costs related to the category. The charity expenditures represents the amount expended by the church in the current reporting peri(yJ ended 31st March 2023 Taxation As a charity: the charttable funds are exempt from corporation tax but not fnn VAT. Recoverable VAT is in accordance with standard accounts.ng practice, included in the cost of those items to which it relates. Depreciation Depreciation has been provided at the following rates on a reducing balance methods. Church Office. Fixtures and Fith'ngs Equipment Furnitures & Computers Motor Vehicle 15°/0 150 150/0 15° Operating Profft 2024 2023 This is stated after charging. Depreciation of owned fixed assets 7935
ST MARY'S CHURCH OF CHRIST NOTES TO THE ACCOUNTS (CONTINUED) for the year ended 31st March 2024 Fixed assets Fittings & Fixture Total Equipment Furnitu Cost As At 1 April 2023 Addition During the Year Disposavwritten off At 31 March 2024 29,400 2.250 11,200 1.550 12,300 52,900 3,800 31,650 12.750 12,300 56,700 Depreciation As At 1 April 2023 Charge for the year Disposavwritten off At 31 March 2024 21,266 3,165 3,972 1,275 4,457 1,230 29,695 5.670 24,431 5,247 5,687 35,365 Net Book Value At 31 March 2024 7.503 At 31 March 2023 All fixed assets are used for direct charitable purposes. Creditors Amount falling due within one year 2024 2023 Other Creditors. Accountancy fees Unrestricted Funds 2024 2023 Unrestricted Funds brought forward Unrestricted Funds for the year Adjustment As al 31 st March 2024 131st March 2023 83,110 39 35,330 47.780 10
ST MARY'S CHURCH OF CHRIST NOTES TO THE ACCOUNTS (CONTINUED) for the year ended 31 st March 2024 Detailed Income and Expenditure Account for the year to 31 st March 2024 Unrestricted Restricted Total 6.1 Income and Resources Incoming from offering, tithes. building & other 38.112 38,112 Gift Aid & Donations Total Incoming Resources 16,842 16,842 OUTGOINGS 6.2 Costs of activities in furtherance of the charities objects: Church Rent and Rates Spiritual items Sundries Charitable donation and Gift Anniversary Music and Entertainment Christmas Party Renovation & Maintenance 24,000 2,565 245 1.350 3,470 1,250 525 12,000 36,000 2,565 530 1,520 3,470 1,250 525 1,245 285 170 6.3 Managemant and AdministratNe of charity.. stationery Telephone Postage Bank Charges Repairs and Renewals Professional and consultanc fees Transportation 355 625 465 225 130 750 795 885 325 895 125 565 785 885 1,240 950 1,360 350 695 1.535 1,680 Cash & Bank Balances Cash at bank Church Assets Schedule 2024 2023 rchE Equipment ui ment 7,219 8,134 Fixtures and Fittin Fixtures & Fittings 6,613 7.843 Furnitures 7,503 7,228