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2022-10-31-accounts

CHRISTIAN LIFE MINISTRIES THAMESMEAD TRUST Report and Accounts Year ended 31 October 2022

3 Worcester Avenue, Old Swan, LIVERPOOL L13 9AZ t: 01513647913 e: aamatthew@aol.com

OFFICIAL

Contents Page
Company Information 1
Trustees' Annual Report 2-6
Independent Examiner's Report 7
Statement of Financial Activities 8
Balance Sheet 9
Cash Flow Statement 10
Notes to the Accounts 11-16
The following page does not form part of the Statutory Accounts
Detailed Statement of Financial Activities with Comparatives 17

OFFICIAL

Christian Life Ministries Thamesmead Trust Trustees' Annual Report for the Year Ended 31 October 2022

Company Information

Charity Name: Christian Life Ministries Thamesmead Trust
Directors/Trustees: Rev Ebenezer Olowoyo
Pastor Ephraim Olumewo
Rev Peter Magbadelo
Key staff: Pastor Yomi Olowoyo
Pastor Eunice Olowoyo
Governing Document: Trust Deed dated 8 November, 1999
Declaration of Trust dated 12 January 2000
Charity Commission No: 1078858
Registered Office and 11 Arnott Close
Operational Address: Titmus Avenue, Thamesmead
London, SE28 8BG
Accountants: AA Matthew & Co
Newspring House
3, Worcester Avenue
Old Swan
Liverpool
L13 9AZ
Bankers: HSBC Bank PLC
London

Page 1

OFFICIAL

Christian Life Ministries Thamesmead Trust Trustees' Annual Report for the Year Ended 31 October 2022

Objects of the charity

The main charitable objectives of Christian Life Ministries Thamesmead Trust as set out in the objects contained in the charity's declaration of trust are:

a. to advance the Christian faith in accordance with our Statement of beliefs hereto in the London and in such other parts of the United Kingdom or the world.

Ensuring Our Work Delivers Our Aims

We review our aims, objectives and activities each year. This review looks at what we achieved and the outcomes of our work in the previous 12 months. The review looks at the success of each key activity and the benefits they have brought to those groups of people we are set up to help. The review also helps us ensure our aims, objectives and activities remained focused on our stated purposes. We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives they have set.

The Focus of Our Work

Our main objectives for the year continued to be the advancement of the Christian religion and the relief of poverty and sickness. The strategies we used to meet these objectives included:

  1. Provision of Weekly Church Services on Sunday to minister to the physical, spiritual and material needs of the congregants.

  2. Provision of Special Events and Meetings to meet the specific needs of target groups in the Church such as Men, Women, Youth and Children.

  3. Focusing on the Material needs of certain members undergoing difficult financial situations.

  4. Working with other Christian agencies and Churches in London to advance the preaching of the Gospel.

  5. Provision of Pastoral Care for Congregants and other members of the community

  6. Missionary and Outreach Work

How Our Activities Deliver Public Benefit

Our main activities and who we try to help are described below. All our charitable activities focus on the advancement of the Christian religion and the relief of poverty and sickness.

Who used and benefited from our Services?

Our Church Services are presented with both the regular congregant and the visitor or seeker in mind. We minister to the physical, mental and spiritual needs of the whole man in our services giving specific consideration to the seekers or new comers in our midst who may not necessarily have a church and as background and as such may not understand the processes and procedures of Christianity. We have also helped relieve poverty and hardship amongst both regular and irregular congregants who are suffering from a period of financial hardship due to unemployment and lack of financial resources. These activities are yet to take off.

Page 2

OFFICIAL

Christian Life Ministries Thamesmead Trust Trustees' Annual Report for the Year Ended 31 October 2022

Financial Review

The trustees approve an annual budget and give regular attention to financial results, variance from budgets and cash flow. Income was principally derived from the generous gifts and voluntary support of members of the church.

For the year, the charity's income (including recoveries of gift aid) was £79,305 (2021: £81,243) and its expenditure was £67,023 (2021: £75,375), which resulted in a surplus of £12,282 (2021: surplus of £5,868).

The trustees have considered the church’s current financial position and projections for the coming 12 months. The trustees are satisfied that the church is and will remain solvent through that period.

Principal Funding Sources

The principal funding sources for the charity are currently by way of Donations and Gifts from congregants through the offering basket passed during Church services.

Reserves Policy

The Board of Trustees has examined the Charity's requirements for reserves in light of the main risks to the organisation. It has established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets held by the charity should be between 3 and 6 months of the expenditure.

The expenditure for Year ended 31st October 2022 is £67,023 and therefore the targeted reserves should be between £16,756 and £33,512 general funds. The reserves 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 has not been met this year as in previous years.

Plans for Future Periods

The Charity plans continuing the activities outlined above in the forthcoming years subject to satisfactory funding arrangements.

We will also continue to review our general processes, activities and staffing to ensure we are meeting the current needs of the church and, in so far as we can, the city.

The Charity and Covid-19

The Covid-19 pandemic has had a profound impact on Christian Life Minitries Thamesmead Trust since the introduction of control measures in March 2020. The Charity has had to adapt its operating model and religious practices to cope of with a physically dispersed congregation. These adjustments were most acute for our congregation, who are primarily from disadvantaged and low-income backgrounds, including millennials and senior citizens.

The effect of the pandemic has necessitated significant investment in digital insfrastructure to enable smooth running of church operations to meet congregational needs.

The implications on Church life have become most severe in the below areas:

d. Deterioration in mental health and wellbeing of those in isolation, particulary elderly congregation members;

e. Diminished sense of community and engagement with worship.

Page 3

OFFICIAL

Christian Life Ministries Thamesmead Trust Trustees' Annual Report for the Year Ended 31 October 2022

As we begin to emerge from an extended period of sheltering and social distancing, there are residual concerns about attendance, engagement and income.

We have set out below interventions undertaken to mitigate the impact of the pandemic on worship, income and community engagement:

a. Provision of Hybrid Services: Church services, programs and teachings have been delivered online since restrictions were put in place by the government. However, during the period of relaxed restrictions, the charity operated with limited capacity and therefore continued to provide online services simultaneously.

Structure, Governance and Management

Governing Document

The Organisation is a charitable trust constitued under a trust deed dated 8 November 1999 and registered as a charity on 12 January 2000. The charity was established under a Declaration of Trust which established the objects and powers of the charitable trust and is governed under its deed. In the event of the trust wound up members are required to contribute an amount not exceeding £10.

Recruitment and Appointment of Trustees

The trustees who are also charity trustees for the purposes of charity law are in charge of the strategic direction of the charitable trust. Under the requirements of the Declaration of Trust the trustees are elected to serve for a period of three years after which they must be re-elected at the next Annual General Meeting.

All trustees except the Senior Pastor give their time vouluntarily and receive no benefits from the charity.

Due to the nature of Church work, trustees appointed have been so selected 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 Training

Most trustees are already familiar with the practical work of the charity. Additionally new trustees would be invited as required and encouraged to attend a series of short training sessions to familiarise themselves with the charity and the context within which it operates. These sessions would be jointly led by the Chair of Trustees and the Chief Executive or Senior Pastor of the Charity and cover:

o The Obligations of Trustees

o Resourcing and the current finanicial position as set out in the latest published accounts o Future plans and objectives

A Question & Answer pack would be prepared which draws information from various Charity Commission publications signposted through the Commission's guide "the Essential Trustee" as a follow up to these sessions. This will be distributed to all new trustees along with the Memorandum and Articles and the latest financial statements.

Page 4

OFFICIAL

Christian Life Ministries Thamesmead Trust Trustees' Annual Report for the Year Ended 31 October 2022

Risk Statement

The trustees recognise the importance of assessing and managing risk associated with the charity's objectives. The process of identifying risk is on-going and is an essential part of the work of the trustees and Management Team. The charity has a set of comprehensive policy and procedure documents in place to ensure on-going identification and management of foreseeable risks.

Financial risk is mitigated through the adoption of comprehensive budgeting and reporting processes. Policy documents relating to risk and compliance issues are reviewed and updated annually. Current policies include:

  1. Safeguarding children and vulnerable adults

  2. Health and safety

  3. Equal opportunities

  4. Purchasing

  5. Fire safety and evacuation

  6. Employment including complaints and disciplinary issues

  7. Privacy and data protection

  8. Complaints

  9. Finance Processes

  10. Conflict of Interest

The trustees and staff have been aware of their responsibilities with regard to the new GDPR regulations and action has been taken to ensure compliance.

Organisation

Christian Life Ministries Thamesmead Trust is governed by a Board of Trustees elected to serve the charity and run its affairs. Annually the Board reviews the range of skills it has available and uses its power of co-option to ensure that gaps are filled. There are a number of other criteria that a trustee must meet.

The Board of Trustees meet quarterly and are responsible for the strategic direction and policy of the Charity. A scheme of delegation is in place and day to day responsibility for the provision of the services rest with the Senior Pastor who is also the Chief Executive. He is ably assisted by an adminstration staff who implement day to day operations. The adminstrative team continue to develop their skills and working practices in line with good practice.

Charity law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable trust as at the balance sheet date and of its incoming resources and applications of resources, including income and and expenditure, for the financial year. In preparing those financial statements the Trustees should follow best practice and:

o Select suitable accounting policies and then apply them consistently;

o Make judgements and estimates that are reasonable and prudent

o Prepare the financial statements on the on going basis unless it is in appropriate

to presume that the charity will continue in business.

Page 5

OFFICIAL

Christian Life Ministries Thamesmead Trust Trustees' Annual Report for the Year Ended 31 October 2022

Organisation

The Trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enables them to ensure that the financial statements comply with Charity Acts of 2006 and 2011. The Trustees 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.

Members of the Board of Trustees

Members of the Board of Trustees, and trustees for the purpose of charity law, who served during the year and up to the date of this report are set out on page 1.

In accordance with charity law, as trustees, we certify that:

So far as we are aware, there is no relevant information of which the company's accountants are unaware; and as the directors of the company we have taken all steps that we ought to have taken in order to make ourselves aware of any relevant information and to establish that the Charity's accountants are aware of that information.

This report has been prepared by the Order of Trustees:

Rev Ebenezer Olowoyo

07th August 2023

Page 6

OFFICIAL

Christian Life Ministries Thamesmead Trust Independent examiner’s report to the trustees of Christian Life Ministries Thamesmead Trust for the Year Ended 31 October 2022

I report to the charity trustees on my examination of the accounts of the Charity [Charity No.1078858] for the year ended 31 October 2022 on pages 8 to 17 following, which have been prepared on the basis of the accounting policies set out on pages 11 and 13.

Responsibilities and basis of report

The trustees are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. The Charity's gross income did not exceed £250,000 and I am qualified to undertake the examination by being a qualified member of the Association of Accounting Technicians.

Having satisfied myself that the accounts of the Charity are not required to be audited section 144 of the Charities Act 2011 and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

Independent examiner’s statement

The Company’s gross income did not exceed £250,000 therefore our examiner need not be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a Fellow of the Association of Accounting Technicians, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Mr Matthew Okuboyejo FCA, MAAT

Association of Accounting Technicians

AA Matthew & Co Newspring House 3, Worcester Avenue Old Swan Liverpool L13 9AZ

07th August 2023

Page 7

OFFICIAL

Christian Life Ministries Thamesmead Trust Statement of Financial Activities (including Income and Expenditure Account) for the Year Ended 31 October 2022

Notes
Incoming resources
Incoming resources from generated funds:
Voluntary Income:
Donations and Offerings
3
Gift Aid Tax Reclaim
3
Building Funds
3
Activities for generating funds:
Investment Income
4
Total incoming resources
Resources expended
Cost of generating funds
Costs of generating voluntary income
5
Charity activities
6
Governance Costs
7
Total resources expended
Net Incoming resources before other
recognised gains
Net movement in funds
Reconciliation of Funds
Total funds brought forward
Total funds carried forward		 2022
2022
2021
Unrestricted
Restricted
Total
Total
Funds
Funds
Funds
Funds
£
£
£
£
53,007
-
53,007
59,649
26,280
26,280
21,593
-
-
-
18
18
1
79,305
-
79,305
81,243
48,268
-
48,268
56,178
17,455
-
17,455
17,997
1,300
-
1,300
1,200
67,023
-
67,023
75,375
12,282
12,282
5,868
12,282
12,282
5,868
(21,267)
-
(21,267)
(27,135)
(8,985)
-
(8,985)
(21,267)

There were no recognised gains or losses for the period other than those included in the Statement of Financial Activities.

All Income and expenditure derive from continuing operations.

The statement of financial activities also complies with the requirements for an income and expenditure account required by the Companies Act 2011.

The notes on Pages 11 to 16 form part of these accounts.

Page 8

OFFICIAL

Christian Life Ministries Thamesmead Trust Balance Sheet as at 31 October 2022

Christian Life Ministries Thamesmead Trust
Balance Sheet as at 31 October 2022
Notes
Fixed assets
Tangible assets
10
Currents assets
Cash at bank and in hand
13
Creditors: amounts falling due
within one year
11
Net Current Assets
Net Assets
Unrestricted funds
General Funds
15
Total Funds		 2022
£
18,015
35,782
35,782
(62,782)
(27,000)
(8,985)
(8,985)
(8,985)		 2021
£
17,434
27,358
27,358
(66,059)
(38,701)
(21,267)
(21,267)
(21,267)

The charitable trust is entitled to exemption from audit under section 144 of the Charities Act 2011 for the year ended 31st October 2022

The members have not required the company to obtain an audit of its financial statements for the year ended 31st October 2022 in accordance with section 144 of the Charities Act 2011 however, in accordance with Section 145 of the Charities Act 2011, the accounts have been examined by an independent examiner and their report has been included in these financial statements.

The Financial Statements were approved by the board on 07th August 2023 and were signed on its behalf by:

Rev Ebenezer Olowoyo Trustee

The notes on pages 11 to 16 form part of these financial statements.

Page 9

OFFICIAL

Christian Life Ministries Thamesmead Trust Cash Flow Statement

for the Year Ended 31 October 2022

Note
Cashflows from operating activities:
Net cash provided by (use in) operating activities
A
Cashflows from investing activities:
Net cash provided by (use in) investing activities
B
Cashflows from financing activities:
Net cash provided by (use in) financing activities
Change in cash and equivalents in the reporting period
Cash and equivalents at the beginning of the year
C
Cash and equivalents at the end of the year
C		 2022
£
10,134
(1,710)
8,424
27,358
35,782		 2021
£
18,946
18,946
8,412
27,358

NOTES TO THE CASH FLOW STATEMENT

Note A: Reconciliation of net income/(expenditure) to net cash flow from operating activities:

Net income/(expenditure) for the reporting period (as per the statement of fin
Adjustments for:
Depreciation Charges and provisions for impairment
(Increase)/Decrease in debtors
Increase/(Decrease) in creditors
Net cash provided by (used in) operating activities
Note B:Reconciliation of net cash flow from Investing activities:
(Purchase)/Sale in Assets
Net cash provided by (use in) investing activities
Note C: Analysis of cash and cash equivalents
Cash at bank with immediate access
Petty Cash
Total Cash and Cash equivalents		 2022
£

12,282
1,129
-
(3,277)
10,134
2022
£
(1,710)
(1,710)
2022
£
35,579
203
35,782		 2021
£
5,868
935
202
1,941
18,946
2021
£
-
-
2021
£
27,308
50
27,358

Page 10

OFFICIAL

Christian Life Ministries Thamesmead Trust Notes forming part of the financial statements for the year ended 31 October 2022

1. Statutory Information

CHRISTIAN LIFE MINISTRIES THAMESMEAD TRUST is a charitable trust, registered in England and Wales, registered charity number 1078858 . The registered office and principal place of business is 11 Arnott Close Titmus Avenue, Thamesmead, London, SE28 8BG.

2. Accounting Policies

These financial statements are prepared on a going concern basis, under the historical cost convention

These financial statements have been prepared in accordance with the "Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) ("the Charities SORP"), with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland ("FRS 102"), with twith the Charities Act 2011 The charity meets the definition of a public benefit entity as set out in FRS 102.

The principles adopted in the preparation of the financial statements are set out below.

a). Going concern

The trustees have assessed whether the use of the going concern basis is appropriate

and have considered possible events or conditions that might cast significant doubt on the ability of the charity to continue as a going concern. The trustees have made this assessment for a period of at least one year from the date of approval of the financial statements.

In particular the trustees have considered the charity's forecasts and projections and the possible implications should projected income and/or expenditure vary unexpectedly. The trustees have concluded that there is a reasonable expectation that the charity has adequate resources to continue to operate for the foreseeable future. The charity therefore continues to adopt the going concern basis in preparing its financial statements.

b). Income

Income including investment income is recognised in the period in which the charity becomes entitled to receipt, the amount receivable can be measured with reasonable certainty, and receipt is probable. For the most part, income is generally recognised when it is received. Income is only deferred when the charity has to fulfil conditions before becoming entitled to it or where the donor has specified that the income is to be expended in a future period.

Income from donations and legacies includes:

i). Voluntary income is received by way of donations and gifts and is included in full in the Statement of Financial Activities when receivable.

ii). Recoverable gift aid. This is recognised when the related donation is received. Gift aid that has not been recovered by the balance sheet date is included as a debtor.

iii). Goods donated for distribution to beneficiaries are recognised as income when receivable at fair value (being an estimate of the amount it would cost to purchase those items).

The charity relies on volunteers to carry out many of its activities, particularly the work with Youth Church and Adult Church. However, in accordance with the SORP, the value of these services has not been included in these financial statements as they cannot be reliably measured.

Page 11

OFFICIAL

Christian Life Ministries Thamesmead Trust Notes forming part of the financial statements for the year ended 31 October 2022

When donated goods are distributed an expense in respect of those items is included in the Statement of Financial Activities. At the year end any goods that have not been distributed are recognised as stock.

Income from charitable activities represents income receivable from goods, services and facilities supplied in furtherance of the charity's charitable objects. It includes income from church retreats and other events and courses.

The charity has taken the view that it has only one charitable activity, namely the advancement of the Christian faith, and all income from donations, legacies and charitable activities is in respect of this one activity.

c). Expenditure

Expenditure, including irrecoverable VAT, is recognised when it is incurred or, if earlier, when a legal or constructive obligation for a payment arises provided that it is probable that settlement will be required and the amount of the obligation can be measured reliably.

The charity makes grants to other institutions and individuals to further its charitable objectives. Grants payable are recognised as constructive obligations arise, which is generally when the charity expresses a commitment to the recipient that can be measured reliably and then only to the extent that any conditions associated with the grant are outside of the control of the charity.

The Charities SORP requires charities with income over £500,000 to allocate costs to the various activities undertaken by the charity. The nature of the work of the charity is considered to be so integrated that the core charitable activity costs are considered to be for the one activity.

Governance costs, which are included in expenditure on charitable activities but are identified separately in the notes to the accounts, includes costs associated with the independent examination of the financial statements, compliance with Constitutional and statutory requirements and any other expenditure incurred on the strategic management of the charity.

d). Fund Accounting

General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. Restricted funds are donations which are to be used in accordance with specific restrictions imposed by donors; they include donations received from appeals for specific activities or projects.

e). Tangible Fixed assets

Fixed assets (excluding investments) are stated at cost less accumulated depreciation. The costs of minor additions or those costing below £1,000 are not capitalised. Depreciation is provided at rates calculated to write off the cost of each asset over its expected useful life, which in all cases is estimated at 4 years.

Investments held as fixed assets are revalued at mid market value at the blance sheet date and the gain or loss taken to the Statement of Financial Activities.

Page 12

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Christian Life Ministries Thamesmead Trust Notes forming part of the financial statements for the year ended 31 October 2022

f). Stocks

Stocks of donated items held for distribution to beneficiaries are measured at fair value.

g). Pension Scheme arrangements

The charity operates defined contribution pension schemes for its employees. Obligations for contributions to these schemes are recognised as an expense when the liability arises. The assets of these schemes are held separately from those of the charity in independently administered funds.

h). Taxation

As a charity, Christian Life Ministries Thamesmead Trust is exempt from tax on income and gains falling within Section 505 of the Taxes Act1988 or s256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have risen in the Charity.

The organization is a charitable trust; it has taken advantage of the various reliefs from taxation available to charities and no tax is payable on the charity's income.

i). Critical accounting estimates and areas of judgement

The trustees do not consider that there are any material sources of estimation or uncertainty at the balance sheet date that could result in a material adjustment to the carrying values of assets and liabilities in the next reporting period

3. Donations Unrestricted Restricted 2022 2021
Total Total
£ £ £ £
Donations -Tithes and Offering 53,007 53,007 59,649
Gift Aid Tax Reclaim 26,280 26,280 21,593
79,287 - 79,287 81,242

4. Incoming Resources from Activities to further the Charity's Objects

Unrestricted Restricted 2022 2021
Total Total
£ £ £ £
Investment Income 18 18 1
18 18 1

Page 13

OFFICIAL

Christian Life Ministries Thamesmead Trust Notes forming part of the financial statements for the year ended 31 October 2022

5. Costs of Generating Voluntary Income

Church Work pport Cost Church Work pport Cost Governance 2022 2021
£ £ £ £ £
Staff Costs Direct 12,984 12,984 27,938
Bank Charges Direct 1,225 1,225 833
Administration Direct 9,851 9,851 6,002
Support Costs Direct 7,885 7,885 5,796
Premises Direct 16,323 16,323 15,609
40,383 7,885 - 48,268 56,178
6. Charitable Activities
Ministry Direct 17,455 17,455 17,997
17,455 - - 17,455 17,997
7. Governance Cost
Professional Fees Direct 1,300 1,300 1,200
- - 1,300 1,300 1,200
Total Resources 57,838 7,885 1,300 67,023 75,375
Expended

8. Net Incoming Resources for the Year

This is stated after charging:
2022
£
Accountant's Remuneration
1,300
1,300
9. Analysis of staff costs, the cost of key management personnel and trustee remuneration
and expenses
2022
£
Gross wages and salaries & benefits in kind
12,063
Social Security
452
Pension Costs
469
12,984		 2021
£
1,200
1,200
2021
£
25,756
1,120
1,062
27,938

The average monthly number of employees during the year was 1 (2020: 2). Most of the charity's activities are carried out by volunteers.

No staff received salaries at a rate of more than £60,000 per annum.

The charity's key management comprise the trustees and the key staff named on the Company Information page. Total employment benefits payable to key management for the year were as follows:

Page 14

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Christian Life Ministries Thamesmead Trust Notes forming part of the financial statements for the year ended 31 October 2022

Employer Pension
**Wage & Salaries ** Contribution 2022 2021
£ £ £ £
Key Staff:
Pastor Yomi Olowoyo - - - 15,182
Mrs EA Olowoyo 12,063 469 12,532 11,636
-
12,063 469 12,532 26,818

Pastor Yomi Olowoyo is employed as the church senior pastor and Mrs E.A olowoyo as his support staff.. They received the above payment for serving in these capacity, not for serving as trustees; these payments are allowed by the Charity's govening document.

10. Tangible Fixed Assets

Leasehold
Furniture
Motor Music/Office
2022
Property
Land
& Fitting
Vehicle
Equipment
Total
£
£
£
£
£
£
Cost
At 1 November 2021
45,195
14,630
21,252
5,007
61,632
147,716
Additions in year
1,710
At 31 October 2022
45,195
14,630
21,252
5,007
63,342
149,426
Depreciation
At 1 November 2021
44,000
-
21,101
4,858
60,323
130,282
Charge for the year
299
38
37
755
1,129
At 31 October 2022
44,299
-
21,139
4,895
61,078
131,411
Net Book Value
At 31 October 2022
896
14,630
113
112
2,264
18,015
At 31 October 2021
1,195
14,630
151
149
1,309
17,434
11. Creditors: Amounts falling due within one year
2022
2021
£
£
Accruals & Deferred Income
60,249
60,228
Other Creditors
2,533
5,831
62,782
66,059		 Leasehold
Furniture
Motor Music/Office
2022
Property
Land
& Fitting
Vehicle
Equipment
Total
£
£
£
£
£
£
45,195
14,630
21,252
5,007
61,632
147,716
1,710		 Leasehold
Furniture
Motor Music/Office
2022
Property
Land
& Fitting
Vehicle
Equipment
Total
£
£
£
£
£
£
45,195
14,630
21,252
5,007
61,632
147,716
1,710		 Leasehold
Furniture
Motor Music/Office
2022
Property
Land
& Fitting
Vehicle
Equipment
Total
£
£
£
£
£
£
45,195
14,630
21,252
5,007
61,632
147,716
1,710
45,195
14,630
21,252
5,007
63,342
149,426
44,000
-
21,101
4,858
60,323
130,282
299
38
37
755
1,129
44,299
-
21,139
4,895
61,078
131,411
896
14,630
113
112
2,264
18,015
1,195
14,630
151
149
1,309
17,434
2022
£
60,249
2,533
62,782		 2021
£
60,228
5,831
66,059

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Christian Life Ministries Thamesmead Trust Notes forming part of the financial statements for the year ended 31 October 2022

12. Net incoming resources for the year

This is stated after charging: 2022 2021
£ £
Depreciation 1,129 935
Accountancy Fees 1,300 1,200
2,429 2,135
13. Cash In Hand and at Bank 2022 2021
£ £
HSBC Bank 35,579 27,308
Petty Cash 203 50
35,782 27,358
14. Analysis of Net Assets Between Funds
General Designated Restricted Total
Funds Funds Funds Funds
£ £ £ £
Tangible Fixed Assets 18,015 - - 18,015
Current Assets 35,782 - - 35,782
Current Liabilities (62,782) - - (62,782)
Net Assets at 31st October 2022 (8,985) - - (8,985)
15. Movements in Funds At 1 Novemb Incoming Outgoing Transfers At 31 October
**2021 ** Resources Resources 2022
[Inc Gains]
£ £ £ £ £
Unrestricted Funds:
General Funds (21,267) 79,305 (67,023) (8,985)
Total Funds (21,267) 79,305 (67,023) - (8,985)

16. Transactions with related parties

During the previous and current year under review, the charity had no related parties transaction(s)

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Christian Life Ministries Thamesmead Trust

Income and Expenditure Account for the Year Ended 31 October 2022

Income
LESS OVERHEADS
Staff Costs
Salaries
Pensions Contributions-NEST
Gross Employers National Insurance
Premises Costs
Rent & Rates
Property Maintenance
Light & Heat
Bank Charges
Bank Charges
Administration
Printing, Postage and Stationery
Print & Design
Telephone and Internet Charges
Church Insurance
Subscriptions
Petrol & Motor Expenses
Web Charges
Software & Computer Supplies
Ministry
Missions to Africa
Missions to Pakistan
Events, Retreats & Conferences
Catering, Refreshment & Hospitality
Honourarium
Donations & Love Gifts
Equipment Hire
Books, Tapes & Videos
Media & Publicity
Professional Fees
Audit & Accountancy Fees
Support Costs
Hotel, Travel & Motor Expenses
Repairs, Renewals and Appliances
Depreciation
Waste Services, Sanitation & Cleaning
After Sales, Warranties & Guarantees
Copyright & Licenses
Sundry Equipment
Sundry expenses
Surplus/(Deficit) for the year
Surplus/Deficit Brought Forward
Surplus/Deficit Carried Forward		 2022
£
79,305
12,063
469
452
12,984
6,000
5,490
4,833
16,323
1,225
1,225
86
4,130
1,844
1,249
569
1,153
-
820
9,851
1,200
900
1,802
3,013
1,200
9,094
-
192
54
17,455
1,300
1,300
1,536
852
1,129
1,039
307
368
2,113
541
7,885
(67,023)
12,282
(21,267)
(8,985)		 2021
£
81,243
25,756
1,062
1,120
27,938
7,500
5,317
2,792
15,609
833
833
194
242
1,967
1,181
1,085
-
468
865
6,002
-
-
3,033
795
1,350
8,150
1,800
1,011
1,858
17,997
1,200
1,200
349
-
935
1,010
275
223
2,415
589
5,796
(75,375)
5,868
(27,135)
(21,267)

This page does not form part of the statutory accounts.

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