DOMINION CHRISTIAN CENTRE FINANCIAL STA TEMENTS AND TRUSTEES REPORT YEAR ENDED I APRIL 2024 DOMINION CHRISTIAN CENTRE Financial Accounts And Trustees Report 1st April 2024 Charity No. 1078438
DOMINION CHRISTIAN CENTRE FINANCIAL STA TEMENTS AND TRUSTEES REPORT YEAR ENDED I APRIL 2024 ADDRESS Dominion Christian Centre Unit 2 Maskill Estate 29 Bidder Street London E16 4ST REGISTERED CHARITY NUMBER 1078438 TRUSTEES Mrs Eslella Vondee Mr Tunji Ayiti Pastor Johnson Popoola Mr Olusoji Ajayi PASTOR AND MINISTER-IN.CHARGE Pastor Johnson Popoola BANKERS Barclays Bank PIC Accountants TL First Accounlanls Limited Chartered Certified Accountsnts 1 Copers Cope Road Beckenham London BR3 1NB
DOMtNION CHRISTIAN CENTRE FINANCIAL STA TEMENTS AND TRUSTEES REPORT YEAR ENDED I APRIL 2024 TRUSTEES REPORT Status and administration The Charity is constituted by a constitution and registered with the Charity Commissioners under charity number1078438. The Constitution has been amended in subsequent years, the latest amendment being in December 2002. Charitable Objects The Objects of the Charity are the advancement of.. The Christian religion through but not exclusively the provision of Servi5, religious education classes, seminars and crusades. Musical education of children and young persons in the area of greater London, through the provision of training and facilities. Within these Objects, the Charity also has various permanent endowments and un-endowed trust funds held for special purposes in conneckn'on with the acquisitionldevelopm6nt of a permanent place of worship. Board Policy The Charity provides information, contacts, helps, counselling and financial support for charity members and the community at large, It is our policy to provide a building with various facilities to contribute to the community. Review of activities and achievements In the year 202312024, we have seen tremendous change and improvement in the way the charity is run. The reduction in the net incoming resources was due to global financial crisis and the impact on charitable organisations such as DCCIDSM. We have been able to achieve more on the objectives of the charity than the previous years, Financial activities and results The nel incoming resour for the year amounted to £110,760 of which some 10 % was allocated to mission workslfunding. Investment powers, policy and perfom)ance The trustees, investment powers are governed by the constitution of the charity. Reserves Unrestricted funds amounted to £ 23,311 The board has continued to ensure that the expenditure is focused on the smooth running of the charity to meet her daily needs of fvlfilling the objectives. Risk Management The Trustees examine the major risks that the Ministry faces each financial year when preparing and updating the strategic plan. The charity has developed systems to monitor and control these risks to miligate any impact that they may have on the organisation in the future,
DOMINION CHRISTIAN CENTRE FINANCIAL STATEMENTS AND TRUSTEES REPORT YEAR ENDED I APRIL 2024 Accounting and reporting responsibilities The Charities Act1993 requires the Trustees of the Charity 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 the financial statements, the Trustees should follow best practice and Select suitable accounting policies and apply them consistently,. Make judgements and estimates that are reasonable and prudent., Follow applicable accounting standards and the Charities SORP, disclosing and explaining any departures in the financial statements,. and Prepare the financial statements on the going concem basis unless it is inappropriate to assume that the Charity will continue in operation. The Trustees are responsible for keeping accounting records, which are such as to disclose, with reasonable accuracy, the financial position of the Charity at the time, and to enable them as trustees to ensure that the financial statements comply with charity law. The Trustees are also responsible for safeguarding the Charity's assets, and hen for taking reasonable steps for the pr8vention and detection of fraud and other irregularities. Approved by the Board of Trustees of Divine Solution Ministries on................................. and signed on its behalf by.. Chainnan
DOMINION CHRISTIAN CENTRE FINANCIAL STATEMENTS AND TRUSTEES REPORT YEAR ENDED I APRIL 2024 ACCOUNTANTS, AND INDEPENDENT EXAMINER'S REPORT I report to the trustees on my examination of the accounts of the Dominion Christian Centre for the year ended 01 April 2024. Responsibilities and basis of report As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ("the Acf). I report in respect of my examination of the Trust's accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b} of the Act Independent examiner's statement l am qualified to undertake the examination by being a qualified member of the Chartered Association of Certified Accountants (ACCA) and Fellow of the Association {FCCA). I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination {other than that disclosed below,) which gives me cause to believe that in, any material respect.. the accounting records were not kept in accordance with section 130 of the Charities Act. or • the accounts did not accord with the accounting records,. or the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports} Regulations 2008 other than any requirement that the accounts give a 'true and fair, view which is not a matter considered as part of an independent examination. Ihavenoc which a tober erns and have come across no other matters in connection with the examination to n should be drawn in this report in order to enable a proper understsnding of the accounts Dro sode FCCA Cha d Certified Accountant TL First Accounta TL First Limite ts Limited Date..
DOMINION CHRISTIAN CENTRE FINANCIAL STATEMENTS AND TRUSTEES REPORT YEAR ENDED I APRIL 2024 STATEMENT OF FINANCIAL ACTIVITIES 2024 2024 2024 2023 NOTE RESTRICTE UNRESTRICTE TOTAL TOTAL INCOMING RESOURCES Incoming resources from generated funds.. Other incoming resources 110,760 110,760 133,003 TOTAL INCOMING RESOURCES 110,760 110,760 133 003 RESOURCES EXPENDED Cost of generating funds.. Charitable Activities Governance Costs 78,205 45,762 78,205 73,777 45,762 53,624 TOTAL RESOURCES EXPENDED 123,967 123,967 127,401 NET INCOMEIEXPENDITURE FOR THE YEAR BEFORE TRANSFER 13,207 13,207 5,602 Net Movements in Funds (13,207) (13,207) 5,602 Total Funds Brought Forward 2,722 36,517 39,239 33,637 Total Funds Carried Forward 2,722 23,310 26,032 39,239
DOMtNION CHRISTIAN CENTRE FINANCIAL STATEMENTS AND TRUSTEES REPORT YEAR ENDED I APRIL 2024 BALANCE SHEET NOTE 2024 2023 Fixed Assets Tangible Assets Investments 20,425 132 20,557 20,575 132 CURRENT ASSETS D8btors Cash & Bank 3,869 1,606 5,475 2,619 15,913 18,532 Creditors . falling due within one year NET CURRENT ASSETS 5,475 Creditors: due over one year NET ASSETS INCOME FUNDS Restricted Unrestricted 26,032 39,239 2,722 23,310 26,032 2,722 36,517 39,239 For the year ended 1 April 2024 the company was entitled to exemption under Section 477 of the Companies Act 2006. No members have required the company to obtain an audit of its accounts for the year in question in accordance with Section 476. The trustees acknowledge their responsibility for.. i). Ensurtng the company keeps accounting records which comply with Section 386 and 387. if). Preparing accounts which give a true and fair view of the state of affairs of the company as at the end of its surplus and deficit for the financial year in accordance with section 394 and 395, and which otherwise comply with the requirements of the Companies Act 2006 relating to aco)unts so far as applicable to the company. Approved bythe Trustees on...................... by.................................... These accounts are prepared in accordan with the SORP 2005. All incoming resources and resources expended derive from continuing activities. And signed on their behalf CHAIRMAN TREASURER
DOMtNION CHRISTIAN CENTRE FINANCIAL STATEMENTS AND TRUSTEES REPORT YEAR ENDED I APRIL 2024 NOTES TO THE FINANCIAL STATEMENTS-1 APRIL 2024 ACCOUNTING POLICIES Accountin Convention & Com liance These accounts have been drawn up on the basis of a going conrn and the financial statements prepared under the historical cost convention in accordan with applicable Standards, Financial Reporting Standards and the Charities Acts 1992 & 1993. The statements comply with best practice and reflect the requirements of the revised Statement of Recommended Practice (SORP) 2 "Accounting for Charities" Reco nition of Income and Ex enditure Income and Expenditure are recognised on an accrual basis. Donations and legacies are accounted for as received and accrued only when a value can be established before payment is received. General Fund Revenue grants and other income and expenditure associated with the general operations of the charity and its international projects are dealt with in the General Fund. Restricted Fund These comprise donations, legacies or other income, the use of which has been specified by the donor. There is currently no restricted fund. Endowment Fund There is currently no endowment fund, De reciation All fixed assets are capitalised. The charge for depreciation is calculated to write off the cost of the fixed assets over their useful livés on the following bases- Musical Equipment Motor Vehicles Furniture & fittings 25 % on the reducing balance 250/0 on the reducing balance 25 % on the reducing balance Assets are depreciated from the time at which they are brought into use.
DOMINION CHRISTIAN CENTRE FINANCIAL STATEMENTS AND TRUSTEES REPORT YEAR ENDED I APRIL 2024 2. INCOMING RESOURCES UNRESTRICTED RESTRICTED DESIGNATED TOTAL TOTAL FUNDS FUNDS 2024 2024 FUNDS FUNDS FUNDS 2024 2024 2023 Donations {including Gift Aid recoverable) Grants and Income from trust 110,760 110,760 133,003 110,760 110,760 133,003 3. RESOURCES EXPENDED COST OF GOVERNANCE CHARITABLE OTHER TOTAL TOTAL ACTIVITIES COSTS RESOURCES EXPENDED 2024 2023 Directs Costs Staff Costs 26,438 26,438 26,438 29,829 26,438 29 829 Indirect Costs Charitable activities Office & Admin Costs Depreciation Charges 51,767 51,767 43,948 45,612 45,612 53,424 150 45,762 TOTAL RESOURCES EXPENDED 51,767 150 200 97,529 97,572 78,205 45,762 123,967 127,401
DOMINION CHRISTIAN CENTRE FINANCIAL STA TEMENTS AND TRUSTEES REPORT YEAR ENDED I APRIL 2024 4. TANGIBLE FIXED ASSETS Fumiture & Fittings Computer & Musical Equip Building Motor Vehicle TOTAL COST.. At 0110412023 At 0110412024 19,976 19,976 30,792 30,792 63,224 63,224 5,750 119,742 5,750 119,742 DEPRECIATION: At 0110412023 Charge for the year At 0110412024 30,630 41 30,671 62,798 107 62,905 5,740 99,168 150 5,742 99,318 NET BOOKVALUE:. At 0110412024 At 0110412023 19,976 19,976 122 162 320 426 8 20,425 10 20,575 5. DEBTORS 2024 2023 Other Debtors 3,869 3,869 2,619 2,619 io
DOMINION CHRT.STIAN CENTrE FtNANCIAL STA TEMENTS AND IRUSTEES REPORT YEAR ENDED I APRIL 2024 BALANCE SHEET Fixed Assets Tangible Assets Investments NOTE 2024 2023 20,425 132 20,575 132 CURRENT ASSETS Debtors Cash & Bank 3,869 1,806 2,619 Creditors . falling due within one year NET CURRENT ASSETS Creditors.. due over one year NET ASSETS INCOME FUNDS Restricted Unrestricted 2,722 2,722 For the year ended 1 April 2024 the company was entitled to exemption under Section 477 of the Companies Act 2006. No Mernbe have required the company to obtain an audit of its accounts for the year in question in accordan with Section 476. The tnjstees acknowledge their responsibility for,, }. Ensuring the company keeps accounting records which comply With Section 386 and 387. ill. Preparing aOUnts which give a true and fair view of the state of affairs of the company as at the end of its surplus and deficit for the financial year in accordance with section 394 and 395, and which otheNrse comply with the requirements of the Companies Act 2006 relating to accounts so far as applicable lo the company, Approved by the Trustees on... And signed on their behalf These accounts are prepared in accordance with the SORP 2005. All incoming resources and reSoUrS expended derive from continuing activities. CHAIRMAN TREASURER
IX)MtNtON CHRISTIAN CENTRE FINANCIAL STATEMENfs AND TRUSTEES REPORT YEAR ENDED I APRIL 2024 Accounting and reporting responsibilitles The Charities Act1993 requires the Trustees of the Charity to prepare financial statements for each financial year whiGh 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 the financial statements, the Trustees should follow best practi and Select suitable accounting policies and apply them consistendy. IAake iudgements and estimates that a reasonable and prudent,, Follow applicable accounting standards and the Charities SORP, disclosing and explaining any departures in the financial statements,- and Prepare the financial statements on the going concem basis unless il is inappropriate to assume that the Charity will continue in operation. The Trustees are responsible ft)r keeping accounting records, which are such as to disclose, with reasonable accuracy, the financial position of the Charity at the time, and to enable them as trustees to ensure that the financial statemenls comply with charity law. The Trustees are also responsible for safeguarding the Charity's assets, and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by the Board of Tnjstees of Divine Solution Ministries and signed on its behalf by: Chairman