ST MARY'S CHURCH OF CHRIST
CHARITY No. 1072265
TRUSTEES REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2025
ST MARY'S CHURCH OF CHRIST
CONTENTS
| Pages | |
|---|---|
| Administrative Information | 2 |
| Trustees Report | 3 |
| Independent Examiners' Report | 5 |
| Statement of Financial Activities | 74 |
| Statement of Financial Position | 8 |
| NotestotheAccounts | 9 |
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ST MARY'S CHURCH OF CHRIST
Administrative nformation
Chairperson Mrs Victoria Ekundayo Other Trustees Evang. Kole Atewologun Dr Mary Oluwatosin Ogunnupebi
Charity Registered Number 1072265 Registered Office 137A Ormside Street London SE15 1TF Independent Examiner Enochs Financial Services Ltd 15 St Joseph's Close London W10 5GL 07950 490 503
Banker: Barclays Bank
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ST MARY'S CHURCH OF CHRIST Trustees Report for the year ended 31st March 2025
The Trustees of the ST MARY'S CHURCH OF CHRIST present their report and financial statements for the year ended 31st March 2025. 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 principal officers and bankers is set out on page 2.
Objectives
The charitys' principal activity is the proclamation of the gospel of Jesus Christ.
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1 To advance the Christain 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 time think fit,;
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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;
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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;
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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 £56,310. The donations and gift received have been made available without restriction as to its useage.
The balance on the charity's fund are unrestricted. These will be used to fund the charity'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 resources 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
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ST MARY'S CHURCH OF CHRIST
Trustees Report for the year ended 31st March 2025
Statements of the Trustees' Responsibilities
Law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give 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 requuired to;
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a) Select suitable accounting policies and apply them consistently;
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b) Make judgement and estimates that are responsible and prudent;
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Cc) State whether applicable accounting standards and statements of recommended practice have been followed, subject to many departures disclosed and explained in the financial statement;
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d) Prepare the financial statements on a going concern basis unless it is inappropraite to presume that the charity will continue on that basis.
The Trustees are responsible for ensuring that proper books are maintaned, for safe guiding the assets of the charity, and taking reasonable steps for the prevention and detection of fraud and other Irregularities. The board has reviewed the effectivesness of the system of internal control and thereare no material weaknesses that would resulted in losses, contigencies and uncertainties that require a separate disclosure in these accounts.
Mary Ogunnupebi Trustee
Victoria Ekundayo Trustee
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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 2025
| 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 Entities (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 on pages 7 to 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 applicable 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 examination, it is my responsibility to:-
a) examine the accounts under section 43 of the Act:
b) to follow the procedures laid down in the General Directions given by the Charity Commission section 43(7)(b) of the Act;
c) to state whether particular matters have come to my attention.
Basis of Opinion and Scope of Work Undertaken
| conducted my examination in accordance with the General Directions given by Charity Commissioners 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. | have carried out the procedure we considered necessary to confirm whether or not the charity is entitled to the exemptions. | have compared the accounts with accounting records kept by the charity and making such limited enquiries of the trustees of the charity, which | considered necessary for the purpose 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 limitations upon the scope of my work as detailed above, in connection with my examination, | can confirm that;
1) In accordance with Regulation 31 of the Charity (Accounts and Report) Regulations 2008, the accounts of this charity are not required to be audited under section 477 of the Companies Act 2006
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ST MARY'S CHURCH OF CHRIST
2) This report in respect of an examination carried 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 2006 and;
(iii) the financial statements were prepared in accordance with the methods and principles set out in the statement of Recommended Practice - Accounting and Reporting by Charities.
Wale Ajibola Enoch's Financial Services Ltd 15 St Joseph's Close London W10 5GL
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ST MARY'S CHURCH OF CHRIST
Charity No. 1072265
STATEMENT OF FINANCIAL ACTIVITIES For the year ended 31 March 2025
| Unrestricted | Restricted | Total | |||
|---|---|---|---|---|---|
| funds | funds | funds | |||
| 2025 | 2025 | 2025 | 2024 | ||
| Notes | £ | £ | £ | £ | |
| Receipts | |||||
| Tithes, Offering and Thanksgiving | 6.1 | 38,875 | 0 | 38,875 | 38,112 |
| Gift Aid and Donations | 6.1 | 0 | 17,435 | 17,435 | 16,842 |
| Total Receipts | 38,875 | 17,435 | 56,310 | 54,954 | |
| Payments | |||||
| Cost of activities in furtherrances of | |||||
| charitys' objectives | 6.2 | 29,535 | 13,565 | 43,100 | 47,105 |
| Management & Administration of charity | 6.3 | 9,225 | 3,675 | 12,900 | 7,810 |
| Total Payments | 38,760 | 17,240 | 56,000 | 54,915 | |
| Net Income (Outgoing) Resources | 115 | 195 | 310 | 39 | |
| Net Movement in Funds | 0 | 0 | 0 | 0 | |
| Cash Funds B/F | 5 | 147,863 | -64,714 | 83,149 | 83,110 |
| Adjustment | 0 | 0 | 0 | 0 | |
| CashFundsthisyearend | 147,978 | -64,519 | 83,459 | 83,149 |
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ST MARY'S CHURCH OF CHRIST
Charity No. 1072265
STATEMENT OF FINANCIAL POSITION AS AT 31ST MARCH 2025
| Unrestricted | Restricted | Total | |||
|---|---|---|---|---|---|
| 2025 | 2025 | 2025 | 2024 | ||
| Notes | £ | £ | £ | £ | |
| Assets Retained for Charity's own use | |||||
| Tangible Assets | 3 | 7,219 | 14,116 | 21,335 | 21,335 |
| Cash Funds | |||||
| Building Fund | 33,455 | 5,505 | 38,960 | 11,915 | |
| Debtors | 3,650 | 0 | 3,650 | 2,445 | |
| Cash/Bank | 8,725 | 12,389 | 21,114 | 49,454 | |
| 45,830 | 17,894 | 63,724 | 63,814 | ||
| Other Monetary Assets | |||||
| Amount due within one year | 4 | 1,200 | 400 | 1,600 | 2,000 |
| NET CURRENT ASSETS | 44,630 | 17,494 | 62,124 | 61,814 | |
| TOTAL ASSETS LESS CURRENT LIABILITIES | 51,849 | 31,610 | 83,459 | 83,149 | |
| Liabilities | |||||
| Amount falling due more than one year | 0 | 0 | 0 | 0 | |
| TOTAL NET ASSETS | 51,849 | 31,610 | 83,459 | 83,149 | |
| Charity Funds | |||||
| Unrestricted General Funds B/F | 5 | 147,863 | -64,714 | 83,149 | 83,110 |
| Net Income for the Year | AAS | 195 | 310 | 39 | |
| Adjustment | |||||
| TOTALFUNDS | 147,978 | -64,519 | 83,459 | 83,149 |
Signed on behalf of all trustees. Name: Victoria- Ekundayo (Trustee) Signature + V Date: lubes Name: Mary Ogunnupebi (Trustee) Signature GSS(\ ao hohe pate © \ te as
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ST MARY'S CHURCH OF CHRIST
NOTES TO THE ACCOUNTS
Notes to the Accounts for the year ended 31st March 2025
- 1 Accounting Policies
Basis of Preparation
The accounts have been prepared under the historic cost convention 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 period ended 31st March 2025
Taxation
As a charity, the charitable funds are exempt from corporation tax but not frm VAT. Recoverable VAT is in accordance with standard accounting 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.
----- Start of picture text -----
|||||||
|---|---|---|---|---|---|
|Church|Office,|Fixtures|and|Fittings|15%|
|Equipment|15%|
|Furnitures|&|Computers|15%|
|2|Operating|Profit|2025|2024|
|£|£|
|This|is|stated|after|charging:|
|Depreciation|of owned|fixed|assets|4,995|5,670|
----- End of picture text -----
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ST MARY'S CHURCH OF CHRIST
NOTES TO THE ACCOUNTS (CONTINUED) for the year ended 31st March 2025
3 Fixed assets
| 3 | Fixed assets | |||||
|---|---|---|---|---|---|---|
| Fittings & | Total | |||||
| Equipment | Furniture | Fixture | ||||
| £ | £ | £ | £ | |||
| Cost | ||||||
| As At 1 April 2024 | 31,650 | 12,750 | 12,300 | 56,700 | ||
| Addition During the Year | 2,650 | 1,550 | 2,550 | 6,750 | ||
| Disposal/Written off | 6,500 | 3500 | 3500 | 13,500 | ||
| At 31 March 2025 | 27,800 | 10,800 | 11,350 | 49,950 | ||
| Depreciation | ||||||
| As At 1 April 2024 | 24,431 | 5,247 | 5,687 | 35,365 | ||
| Charge for the year | 2,780 | 1,080 | 12135 | 4,995 | ||
| Disposal/Written off | 6,500 | 3500 | 3500 | 13,500 | ||
| At 31 March 2025 | 20,711 | 6,327 | 6,822 | 33,860 | ||
| Net Book Value | ||||||
| At 31 March 2025 | 7,089 | 4,473 | 4,528 | 16,090 | ||
| At 31 March 2024 | 7,219 | 7,503 | 6,613 | 21,335 | ||
| All fixed assets are used for direct charitable purposes. | ||||||
| 4 | Creditors Amount falling due within one | year | 2025 | 2024 | ||
| £ | £ | |||||
| Other Creditors: Accountancy fees | 1,600 | 2,000 | ||||
| 5 | Unrestricted Funds | 2025 | 2024 | |||
| £ | £ | |||||
| Unrestricted Funds brought forward | 83,149 | 83,110 | ||||
| Unrestricted Funds for the year | 310 | 39 | ||||
| Adjustment | ||||||
| Asat31stMarch2024/31stMarch | 2023 | 83,459 | 83,149 |
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ST MARY'S CHURCH OF CHRIST
NOTES TO THE ACCOUNTS (CONTINUED) for the year ended 31st March 2025
6 Detailed Income and Expenditure Account for the year to 31st March 2025
| Unrestricted | Restricted | Total | ||
|---|---|---|---|---|
| £ | £ | £ | ||
| 6.1. | Income and Resources | |||
| Incoming from offering, tithes, building & other | 38,875 | 0 | 38,875 | |
| Gift Aid & Donations | 0 | 17435 | 17,435 | |
| Total Incoming Resources | 38,875 | 17,435 | 56,310 | |
| OUTGOINGS | ||||
| 6.2 | Costs of activities in furtherance ofthe charities objects: | |||
| Church Rent and Rates | 20,000 | 12,000 | 32,000 | |
| Spiritual items | 2,265 | - | 2,265 | |
| Sundries | 335 | 225 | 560 | |
| Charitable donation and Gift | 1,124 | 745 | 1,869 | |
| Anniversary | 2,666 | - | 2,666 | |
| Music and Entertainment | 1,200 | - | 1,200 | |
| Christmas Party | 600 | 595 | 1,195 | |
| Renovation & Maintenance | 1,345 | - | 1,345 | |
| 29,535 | 13,565 | 43,100 | ||
| 6.3. | Managemant and Administrative of charity: | |||
| Stationery | 385 | 520 | 905 | |
| Telephone | 555 | 255 | 810 | |
| Postage | 415 | 425 | 840 | |
| Bank Charges | 215 | 95 | 310 | |
| Repairs and Renewals | 1,190 | 660 | 1,850 | |
| Professional and Consultancies fees | 5,650 | 770 | 6,420 | |
| Transportation | 815 | 950 | 1,765 | |
| 9,225 | 3,675 | 12,900 |
| 7 | Cash & Bank Balances | £ | |
|---|---|---|---|
| Cash at bank | 21,114 | ||
| 21,114 | |||
| 8 | Church Assets Schedule | ||
| 2025 | 2024 | ||
| Church Equipment | £ | £ | |
| Equipment | 7,089 | 7,219 | |
| 7,089 | 7,219 | ||
| Fixtures and Fittings | |||
| Fixtures & Fittings | 4,528 | 6,613 | |
| 4,528 | 6,613 | ||
| Furnitures | |||
| Furnitures | 4,473 | 7,503 | |
| 4,473 | 7,503 |
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