Report and Financial Statements For Ihe year ended 31st December 2022 HOLY ANOINTING CHRISTIAN CENTRE Charity No.. 1075314
HOLY ANOINTING CHRISTIAN CENTRE or¢ of the Trustee5 for the Yèar Ended 3 1st December 2022 Contents Legal and Administrative Information Report of the Trustee Statement of Financi21 Actlvities Balance Sheet 12 Notes foi-ming part of the financial statemenrs 13 The following page does not form part of the Statutory Accounts Income and Expenditure Account 18
HOLY ANOINTING CHRISTIAN CENTRE Reference and Admlnl nformation Chari Name.. HO NOINTING CHRISTIAN CENTRE Chari istration Numbe 1075314 istered Office and O erational Address: 105- 5 07 Clarence Road London E5 8EE DirectorslTr Bukola Anima5ahaun Pastor Felix S Akinbola Susan Adetimehin Omdwunmi Akimbola Inde endent Examiner: Samuel Durojaiye FCPA Samuelson & Co UK Ltd Accountants & Tax Consultants 596 King51and road Hackney, London E8 4AH PAnk
HOLY ANOINTING CHRISTIAN CENTRE ort of the Trustees for the Year Ended 31 st Decembev 2022 Our Aims and Ob ecttves Purpose and Aims Our Charity's purposes as Set out in the objects contained in the Declaration of Trust are . I I to 2dvance Ehe christian religion 21 to advance religiou5 education on accordance with the doctrines and principle5 of the christian faith by means of bible classes, sunday schools and such other ways as the trustees %h211 from time to time decide; 31 to relieve poverty Ensuring Our Woric Delivers Our Aims We review our aims, objecuve5 and ac¢iYities each year. This review loolcs ot what we achieved and the outcome5 Of our worl< in the previous 12 months. The review looks at the succes5 Of each key activity and the benefits they have broltrsht to those groups of people we 2re set up to help. The review also helps us ensure our aim objectives and 2Ctivities remained focused on our stated purposes. We have referred to the gLJidance contained in the Charity Commission's general guidance on public benefit when reviewing our aim and objectives 2nd in planning our future activities. In particular, the trustees consider how planned activitie5 will Contribu to the aim5 and objectives they have set. The Focus of Our Work Our main objectives for the year contynued to be the advance of the Chriscian religion and the relieve of poverty and sickne55. The srrategies we used to meet these objectives included.. l. Provision of Weekly Church Services on Wednesday5 Ind Sundays to Minister to the physical, 5pirltual and materiil needs of the congregants.
HOLY ANOINTING CHRISTIAN CENTRE ort of the Trustees for the Year Ended 31 st December 2022 2. Provision of Special Events and Meetings such as Annual Thanl<sgiving Service for a grand fellowship for all and sundry in the community. 3. Focusing on ihe Material needs of certain members undergoing difficult financial situation5. 4. Working with other Christian agencies and Churches in London to adyance the preaching of the Gospel. 5. Provision of Pastoral Care for Congregants and other members of the communi¢y How Our Activities Deliver Public Benefit OLJr main activities and who we try to help al'e described below. All our charitable activitie5 focus on the advancement of the Christian religion and the I'elief of poverty. Who used and benefited from our Services Our Church Services are attended by both che regular congregant and the visitor or seeker from the community mind. We minister to the spiritual need5 of members in the community who are attending our services. We have also helped relief poverty and hardship amongst both regular and visitors who are Suffering from a period of financial hardship due to unemployment and lack of financial resources. Financial Review The charity has been able to successfully ralse a total income of £25.315 during the period. (£17,200 in 2011) Principal Funding Sources The principal funding source5 for the charity are currendy by way of Donations 2nd Gifts from congregants through the offering baskec passed during Church seryices and events. Investment Policy The Charity has cash that are set out in the Charity balance sheets. The objective ol the investment policy is to invest in cash at banl<s where the capitil is protecLed. No ban1< interwt was achieved in the period The Charity currently has a policy of Iceeping any surplus liquid ftjnds in cash at banks where immediate acce55 and secLErity of funds is gu2r2nteed.
HOLY ANOINTING CHRISTIAN CENTRE ort of the Trustees for the Year Ended 31 st December 2022 Reserve5 Policy The Board of Trustees has examined the Charity's requirements for re5erYes in light of the main ri51(s to the organi5ation. Ic has established a policy whereby the unrestricted funds not commltted or invested in tangible fixed asset5 held by the charity should be between 3 and 6 months of the expenditure. The expenditure for 2021 was £26,163 and therefore the tsrgeted reserves should be between £6.541 and £13,082 in general funds. The reseryes are needed to meet the working capital requirements of the charity and the trustees are confident that at this level they would be able to continue the current activities of the Charity in the event of a significant drop in funding. This general reserve policy was met. Effort would continue to be made to improve che income. Plans foy Future Periods The Charity plans continuing the actÉvities outlined above in the forthcoming years subjecc to satisfactory funding arrdngements. Structure Governance and Mana ement Governing Document The Organisation is 2 charitable organisation constituted under a Constitution dated 5th April 1995 and registeffd a$ 2 charity on 30th April 1999. The charity was established under a Constitution which established che objects and powers of the charity and is governed under its terms. In che everbt of the Charity wound up members 2re required to 50 decide by three-quarters majority. Recruitment and Appointment of Trustees The trustees who are also charity trustee5 for the purposes of ch2rity law are in charge of the strategic direction of the charitable trust. Under the requirements of the Declarncion of Trust the trustee5 are eleCd to serve for a period of three year5 after which they must be reolected at the next Annu21 General Meeting, All trustee5 except the Senior PasLor give their time Yoluntarily and receive no benefits from the charity.
HOLY ANOINTING CHRISTIAN CENTRE ort of the Trustees for the Yeav Ended 31 st Dec ber 2022 Due to the nature of Church worl<, trustees appointsd have been 50 5ele¢ted on the basis of their faith, Strength of Character, skills set in the area of business management and growth and commitment to the vision of the charity. Trustees Induction and Trainin8 In the organisation, both new and old trustses are required and encouraged to attend a series of short training swsions to familiarise themselves with the charity 2nd the context within which it operates. These sessions would be jointly led by the Chair of Trustees and the Chief ExecLJtive or Senior Pastor of the Charity and Cover.. Thc Obligations of Trustees The Main documents which set out the operationxl fr2mework for the charity including the Declaration of Trust Resourcing and the current financial position a5 Set out in che la$t published accour*tS Future plans and objeccives Memorandum and Articles and the latest financial statement and essenti21 info booklet for trustees are given. Risk Management The Trustees have identified the major strategic risks to which HOLY ANOINTING CHRISTIAN CENTRE is exposed to and ha5 ¥tablished controls and actions to mitigate them. Each year. risk assessments t21<e place at our office and are subject to continual review and monitoi-ing. The Trustres Ice 211 appropriate Steps to moderate and manage the inevitable operational risks in the organisation to which members and assets of HOLY ANOINTING CHRISTIAN CENTRE are exposed. Organisation Holy Anointins Chri5dan Centre is governed by a Board ol Trustees elected to Serve the charity and run its affairs. The Board are as51Sted by sectiori leader5. The Board of Trustees meet quarterly and are responsible for the str3tegic dir-ection and policy of the Char-ity. A schetne of delegation is in place for the provision of the services and this rest5 Wlth the Senior Pastor. Annually the Board review5 the range of skills 1¢ has available to delegate responsibilitles to them co achieve the objective% of the organisation.
HOLY ANOINTING CHRISTI rt of the Trustees for the Year Ended 31 st December 2022 N CENTRE Responsibilities of the Trustees Charity law requires the Trustees to prepare financial statements for each financial year which ve a true and fair view of the state of affairs of the charitable trust as at the balance sheet da and of its incon)ing resources and applirdtions of resources, including income and expenditure, for the financial year. In preparing those financial st2tements the Trustees should follow best practice 3nd Select Suitable accounting policies and then apply them consistently., Make judgements and estim2tes that are reasonable and prudent Preyare the financial 5ta¢ements on the on going basis unless it is inappropriate to presun)e that the charity will continue on that SiS. The Trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy 2t any time the financial position of the charity and en2ble5 them to ensure th2t the financial statements comply with Charity Act of 201 l. The Trust are a150 responsible for 5afegu2rding the assets of the Charity and hence for taking reasonable steps for the prevention nd detection of fraud 2nd other irregularities, Members of the Board of Trustees Members of the Board of Trustees, and trustees for the purpose of charity law, who served duting the year and up to the date of this report ar¢ set out on page 3. In accordance w(th charity law. as trustees, we certify that.. So far as we are aware, there is no relevar¢t information ol which the Independent Examiner is Ltnaware- and as the tru5tee5 of the charley we have taken all steps chat we ought to haye taken In order to make ourselves aware of any relevant information and to establish that the Charity's Independent Examiner is aware of d)at information,. This report has been prepared By order of tru es,. Felix B Akinbola
HOLY ANOINTING CHRISTIAN CENTRE Inde endent Examiners Re ort to the Trustees of HOLY ANOINTING CHRISTIAN C NTRE for the ear ended 31 st December 2022 I report on the accounts of the ch2rity for the year ended 31 st December 2021 which are set out on pages 7co 13. Respective responsibilities of trustees and examiner The trustees (who are also the directC*rs of the organi5ation are responsible for the preparation of The trustee5 consider that an audic is not required for this year under section 144(21 of the Charities Act 2011 {201 l Act) and that an independent examination is needed. The charity's gr055 income did not exceed £250,000 2nd l am qualified ¢0 undertal<e the examination by being a Fellow of the Certified Public Accountants Association. Having sat15fied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is tny responsibility to.. examlne the accounts under section 145 of the 201 l Act., ' to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 201 l Act., and ' to state whether parcicular matter5 have come to my attention. Basis of independent examinev's report My examinacion was carried ouc in accordance wth the general Direct¢ons given by che Charity Cornmi5SiOn. An examination include5 a i-eview ol the accounting records kept by the charity and a compari50n of the account5 With those record%. It also include5 con5iderdtion of any unusual items or disclosures in the accounts, and seeking explanarions from you as trustee5 concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audic and consequently no opinion is given 25 to whetl)er the accouncs present a 'true and t2ir view, and the report is limited to those matters set out in the statement below.
HOLY ANOINTING CHRISTIAN CENTRE Inde endent Examiners Re ort to the Trustees of HOLY ANOINTING CHRISTIAN CENTRE for the ear ended 3 1st December 2022 In connettion with my examination, no matter ha5 come to my attention.. ( l } which giYe5 me reasonable cause to believe that in any material respect che requirements.. to keep accounting records in accordance with section 386 of the Companies Act 2006. and to prepare account5 which accord with the accounting records, comply with the accounting requirements of section 396 01 the Companies Acc 2006 and with the method5 and principles of the Statement of Recommended Practice: AccoLEnting and Reporting by Charities have not been meL or {2) to which, in my opinion, atn[lon should be drawn in order to enable 2 proper understanding of the account5 to be l'eached. Samuel Durojaiye FCPA Samuelson & Co UK Lcd Accountants & Tax Consultants 596 Kingsland road Hackney, London EB 4AH
HOLY ANOINTING CHRISTIAN CENTRE Statement of Financial Activities includin ear ended 31 t December 2022 Income dEx enditure Account for the 2022 2022 2022 2021 Unrestricted Restricted Funds Total Funds Tot21 Funds Funds Notes Incomin Incoming resources from generated funds: Voluntary Income.. Donation5 and Offerings Other income resources 26,976 26,976 25,315 Total incoming resources Resources expended 26,976 26,976 25,315 Cost of Costs of generating voluntary income eneratin funds 21,271 21,271 18,243 Charlty activities 4,892 4,892 4,068 Governance Costs Total resources expended 26,163 26,163 22,311 Net Incoming resources before other recognised gains 813 813 3,004 Net movement in funds Reconciliation of Funds Total funds brought forward 813 813 3,004 9,525 9,525 6,521 Total funds carried forward 12 10,338 10,338 9,525 The statement of financial activities includes all galns and losses in ihe year. All incoming resources and resourw expended derive from continuing activities.
HOLY ANOINTING CHRISTIAN CENTRE Balance Sheet as at 31 st December 2022 Notes 2021 Fixed a55ets Tangible assets Currents assets Prepayments Cash at bank and in hand 10,338 9,525 Creditors: Am s fallin due ithin one ear Ne¢ Cu rent Assets 10,338 9,525 Net Assets 10,338 9,525 Funds Unrestricted Funds 10,338 9,525 Total funds 10,338 9,525 Approved by the Board of Tm5tees on the th..August 2022 and signed on its behalf by: Feliy B Akinbola Trustse The notes on pages 9 to 12 form part of these financial statements, 12
HOLY ANOINTING CHRISTIAN CENTRE art of the financial statements for th Notes formin ear ended 31 st December 2022 l. Accounting Policies The principal accounttng policies are summarised below. The accounting policies have been applied consistently thr-oughout che year and in Ihe preceding year. (a) Basis of Accounting The financial statements h2ve been prepared under the historic21 cosc conventton, a5 modified by inclusion of fixed assets inve51ment5 at marl<et value, 2nd in accordance with the Statement of Recommended Prnctice: Accounting and Reporting by Charities issued in March 2005. {b) Fund Accounting Unrestricted funds are awdilab5e for use at the diseretion of the trustees in furtherance of the general objectives of the charity. Unrestrictsd funds include a revaluatton reserve representing the restatement of investment assets at market values. Designaced funds are unrestricted funds earmarlced by the Trustees for particular purposes. Restricted funds are subjected to restrictions on their expenditure imposed by the donoi. or thr04Jgh che tsrms of an appe21. (c ) Incoming Resources All incoming reSoUrS are included in the statement of financial activities when the charlty is entitled to che income and the amoLEnt can be qLJantified with reasonable accuracy. The following specific policies are applied to particular categories of income.. Voluntary income is received by way of grants, donations and gifts and is included in full in the Statement of Financial Activities when receivable. Donated services and facilities are included at the value to the charity where this can be quantified. The value of services provided by volunteers has noc been inclijded in these accounts. Invested income is included when receivable. Incoming i-e50urces from charitable trnding aciivity are accounted for when earned. 13
HOLY ANOINTING CHRISTIAN CENTRE art of the financial statements for the Notes formin ear ended 31 st December 2022 (d) Resources expended Expenditure is i-ecognised on an accrual basis as 2 liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates: Costs of generating funds comprise the costs associated with Attracting voluntary income and the costs of trading for fundraising purposes. Charitable expenditure comprises those costs incurred by the charity in the delivery of it5 activityes and services for its beneficiaries. Ic includes both costs that can be allocated directly to Such activities and chose costs of an indii'ect nature necessary to support them. Governance costs include those costs aOciated with mee¢ing the constitutional and statutory requirements of the charity and include the accountanry fees and costs linked to the strategic management of the charity. All costs are 211ocated between the expenditure categories of the Sofa on a basis designed to reflect the use of the resource. Costs relating ¢0 a particular activity are allocated directly, others are apportloned on an appropriate basis e.g. floor areas, per capita or estimated usage as sec out in Note5 3-5. (e) Fixed Asset5 Fixed assets (excluding investment51 are Stated at cost less accumulated depreciation. The costs of minor 2dditions or those c95ting below £ 1,000 are not capitali5ed. Depreciation is provided at ntes calculated to write off the cost of each asset over its expected useful life, which in all case5 is estimated at 4 years. Investments held as flxed assets are revalued at mid market value at the balance sheet date and the gain or loss taken to the Statement of Financial Activiti. 2. Donations Unrestricted Restricted 2022 2021 Total Total Donations -T1th and Offering Gift Aid 26.976 26,976 25,315 26,976 26,976 25,315
HOLY ANOINTING CHRISTIAN CENTRE Notes formin art of the financial statements for the ear ended 31 st Decembev 2022 3. Costs of Generatin Volunta Income Basis of Allocation Church Support Cost Governance 2022 2021 Worl< Ban1< Charges Administration Direct Direct 573 Support Cost5 Premises Direct Direct 19,560 19,560 17,670 21,271 21,271 18,243 4. Chavitable Activities Ministry Direct 4,892 4,892 4,068 4,892 4,892 4,068 S. Governance Cost Professional Fees Direct Total Resources Expended 26,163 26,163 22,311 6. Trustee Remunerati & Related Pa Transaction$ No member of the Board of Dii"ector5 received any remuneration during the year. Taxation As a charity, HOLY ANOINTING CHRISTIAN CENTRE is exempt from tax on income and gains falling within section 505 of the Taxes Actl 988 or s256 of the Taxation of Chargeable Gains Acc 1992 to the ex¢ that these are applied to its charitable objects. No tax charges have risen in che Charity.
HOLY ANOINTING CHRISTIAN CENTRE Notes formin rt of the financial statements for the ear ended 3 1st D cember 2022 8. Tan Fixed Assets Fixture and Fittings Equipment 2021 Total Cost At I st January 2022 Addition5 At 315t December 2022 2,050 2,525 4,575 2,050 2,525 4,575 Depreciation At l st January 2022 Charge for the year At 315t December 2022 2,050 2,525 4,575 2,050 2,525 4,575 Net Book Value At 3 1st December 2022 At 31 st December 2021 9 Creditors: Amou ts fallin due within on 2022 2021 AccrLJ21s & Deferred Income
HOLY ANOINTING CHRISTIAN CENTRE art of the financial statements for the Notes formin ear ended 3 1st December 2022 l O Net incomin resources for the ear This is stated PAfter charging: 2022 2021 Depreclatlon Audit & Accountancy Fees I l. Analysis of Net A55ets Between Funds General Designated Restricted Total Funds Funds Funds Funds Tangible Fixed Assets Current Assets Current Liabilities Net Assets at 31 st July 2022 12. Movements in Funds At 1st January IncomTng Outgoing 2021 Resources Resources Transfer At 31 Dec 2022 [Inc Gains] Restricted Fund5: Total Restricted Funds Unrestricted Funds: General Funds 9,525 26,976 26,163 10,338 Total Funds 9,525 26,976 26,163 10,338
HOLY NOINTING CHRISTIAN CENTRE Income and Ex enditure Account for the ear ended 31 st December 2022 2022 2021 Volltntary Income: Other Ir)come 26,976 25,315 Total Income 26,976 25,315 LESS OVERHEADS Premises Cost5 Rent 19,560 17,670 19,560 17,670 Bank Char es Ban1< Charges Administration Pastor5 Allowance Prinung, Postage and StatSonary Telephone Internet Heating Electricity Repairs 1,165 421 96 447 125 30 573 Minist Charicable donatyons Evangelism and Promotion Television Licence and expenses Evarbgli5t tv program Events, Seminars & Conferences 980 1,080 2,768 3,830 82 220 4,892 4,068 18
LY ANOINTING CHRISTIAN CENTRE Income and Ex enditure Account for the ear ended 315 December 2022 2022 2021 Professional Fees Audit & Accountancy Fee5 Legal Fee ort Costs Travel & mocor expense5 Insurance Depreciation Total Expenditure SurpluslDeficit for the year Surplus brought forward Surplus carried forward 26,163 813 22,311 3,004 6,521 9,525 9,525 10,338 This page does not form part of the statutory account5.