CHRISTIAN LIFE MINISTRIES THAMESMEAD TRUST
Report and Accounts
Year ended 31 October 2024
3 Worcester Avenue, Old Swan, LIVERPOOL L13 9AZ t: 01513647913 e: aamatthew@aol.com
| 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 |
Christian Life Ministries Thamesmead Trust Trustees' Annual Report for the Year Ended 31 October 2024
Company Information
| Charity Name: | Christian Life Ministries Thamesmead Trust |
|---|---|
| Directors/Trustees: | Rev Ebenezer Olowoyo |
| Pastor Ephraim Olumewo | |
| Rev Peter Magbadelo | |
| Key staff: | 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
Christian Life Ministries Thamesmead Trust Trustees' Annual Report for the Year Ended 31 October 2024
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.
b. to relieve persons who are in conditions of need or hardship or who are aged or sick and to relieve the distress caused thereby in the said London Borough and in other parts of the United Kingdom or the world.
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c. to advance education by such means as the Trustees may consider appropriate.
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d. to promote and fulfill such other charitable purposes beneficial to the community.
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:
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Provision of Weekly Church Services on Sunday to minister to the physical, spiritual and material needs of the congregants.
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Provision of Special Events and Meetings to meet the specific needs of target groups in the Church such as Men, Women, Youth and Children.
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Focusing on the Material needs of certain members undergoing difficult financial situations.
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Working with other Christian agencies and Churches in London to advance the preaching of the Gospel.
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Provision of Pastoral Care for Congregants and other members of the community
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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
Christian Life Ministries Thamesmead Trust Trustees' Annual Report for the Year Ended 31 October 2024
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 £76,078 (2023: £69,180) and its expenditure was £77,999 (2023: £74,702), which resulted in a deficit of £1,921 (2023:£5,522)
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 2024 is £77,999 and therefore the targeted reserves should be between £19,500 and £38,999 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:
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a. Inability to physically visit congregation members at hospitals and those in care;
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b. Cancellation of face-to-face worship services, including weddings, festivals and funerals;
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c. Cancellation of missions and pilgrimages;
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d. Deterioration in mental health and wellbeing of those in isolation, particulary elderly congregation members;
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e. Diminished sense of community and engagement with worship.
Page 3
Christian Life Ministries Thamesmead Trust Trustees' Annual Report for the Year Ended 31 October 2024
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:
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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.
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b. We broadcast from the church building and other locations using collaboration tools (Zoom) and social media platforms (Youtube, Facbook, Twitter and Instagram).
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c. Sensitization of church members on use of online platforms to make donations.
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 The Main documents which set out the operational framework for the charity including the Memorandum and Articles.
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
Christian Life Ministries Thamesmead Trust Trustees' Annual Report for the Year Ended 31 October 2024
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:
-
Safeguarding children and vulnerable adults
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Health and safety
-
Equal opportunities
-
Purchasing
-
Fire safety and evacuation
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Employment including complaints and disciplinary issues
-
Privacy and data protection
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Complaints
-
Finance Processes
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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
Christian Life Ministries Thamesmead Trust Trustees' Annual Report for the Year Ended 31 October 2024
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
20th August 2025
Page 6
Christian Life Ministries Thamesmead Trust Independent examiner’s report to the trustees of Christian Life Ministries Thamesmead Trust for the Year Ended 31 October 2024
I report to the charity trustees on my examination of the accounts of the Charity [Charity No.1078858] for the year ended 31 October 2024 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:
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accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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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
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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
20th August 2025
Page 7
Christian Life Ministries Thamesmead Trust Statement of Financial Activities (including Income and Expenditure Account) for the Year Ended 31 October 2024
| 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 |
2024 2024 2023 Unrestricted Restricted Total Total Funds Funds Funds Funds £ £ £ £ 64,360 - 64,360 57,662 11,383 11,383 11,232 - - - 335 335 286 |
|---|---|
| 76,078 - 76,078 69,180 |
|
| 51,299 - 51,299 44,339 25,325 - 25,325 29,063 1,375 - 1,375 1,300 |
|
| 77,999 - 77,999 74,702 |
|
| (1,921) (1,921) (5,522) |
|
| (1,921) (1,921) (5,522) (14,507) - (14,507) (8,985) |
|
| (16,428) - (16,428) (14,507) |
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
Christian Life Ministries Thamesmead Trust Balance Sheet as at 31 October 2024
| Christian Life Ministries Thamesmead Trust Balance Sheet as at 31 October 2024 |
||
|---|---|---|
| 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 |
2024 £ 16,529 29,421 29,421 (62,378) (32,957) (16,428) (16,428) (16,428) |
2023 £ 17,169 31,020 |
| 31,020 (62,696) |
||
| (31,676) | ||
| (14,507) | ||
| (14,507) | ||
| (14,507) |
The charitable trust is entitled to exemption from audit under section 144 of the Charities Act 2011 for the year ended 31st October 2024
The members have not required the company to obtain an audit of its financial statements for the year ended 31st October 2024 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 20th August 2025 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
Christian Life Ministries Thamesmead Trust Cash Flow Statement for the Year Ended 31 October 2024
| 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 |
2024 £ (1,599) (1,599) 31,020 29,421 |
2023 £ (4,762) |
|---|---|---|
| - | ||
| (4,762) 35,782 |
||
| 31,020 |
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 financi 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 |
2024 £ a (1,921) 640 - (318) (1,599) 2024 £ - - 2024 £ 28,667 754 29,421 |
2023 £ (5,522) 846 - (86) |
|---|---|---|
| (4,762) | ||
| 2023 £ - |
||
| - | ||
| 2023 £ 30,862 158 |
||
| 31,020 |
Page 10
Christian Life Ministries Thamesmead Trust Notes forming part of the financial statements for the year ended 31 October 2024
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
Christian Life Ministries Thamesmead Trust Notes forming part of the financial statements for the year ended 31 October 2024
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
Christian Life Ministries Thamesmead Trust Notes forming part of the financial statements for the year ended 31 October 2024
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 | 2024 | 2023 |
|---|---|---|---|---|
| Total | Total | |||
| £ | £ | £ | £ | |
| Donations -Tithes and Offering | 64,360 | 64,360 | 57,662 | |
| Gift Aid Tax Reclaim | 11,383 | 11,383 | 11,232 | |
| 75,743 | - | 75,743 | 68,894 | |
| 4. Incoming Resources from Activities to further the Charity's Objects | ||||
| Unrestricted | Restricted | 2024 | 2023 | |
| Total | Total | |||
| £ | £ | £ | £ | |
| Investment Income | 335 | 335 | 286 | |
| 335 | 335 | 286 |
Page 13
Christian Life Ministries Thamesmead Trust Notes forming part of the financial statements for the year ended 31 October 2024
5. Costs of Generating Voluntary Income
| Staff Costs Direct Bank Charges Direct Administration Direct Support Costs Direct Premises Direct 6. Charitable Activities Ministry Direct 7. Governance Cost Professional Fees Direct Total Resources Expended |
Church Work upport Cost Governance 2024 2023 £ £ £ £ £ 15,276 15,276 13,706 1,836 1,836 1,051 5,697 5,697 7,621 16,137 16,137 6,738 12,353 12,353 15,223 |
|---|---|
| 35,162 16,137 - 51,299 44,339 |
|
| 25,325 25,325 29,063 |
|
| 25,325 - - 25,325 29,063 |
|
| 1,375 1,375 1,300 |
|
| - - 1,375 1,375 1,300 |
|
| 60,487 16,137 1,375 77,999 74,702 |
|
8. Net Incoming Resources for the Year
| This is stated after charging: 2024 £ Accountant's Remuneration 1,375 1,375 9. Analysis of staff costs, the cost of key management personnel and trustee remuneration and expenses 2024 £ Gross wages and salaries & benefits in kind 13,983 Social Security 674 Pension Costs 619 15,276 |
2023 £ 1,300 |
|---|---|
| 1,300 | |
| 2023 £ 12,708 487 511 |
|
| 13,706 |
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
Christian Life Ministries Thamesmead Trust Notes forming part of the financial statements for the year ended 31 October 2024
| Employer Pension | ||||
|---|---|---|---|---|
| **Wage & Salaries ** | Contribution | 2024 | 2023 | |
| £ | £ | £ | £ | |
| Key Staff: | ||||
| Pastor Yomi Olowoyo | - | - | - | - |
| Mrs EA Olowoyo | 13,983 | 619 | 14,602 | 13,219 |
| - | ||||
| 13,983 | 619 | 14,602 | 13,219 |
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
| Cost At 1 November 2023 Additions in year At 31 October 2024 Depreciation At 1 November 2023 Charge for the year At 31 October 2024 Net Book Value At 31 October 2024 At 31 October 2023 |
Leasehold Furniture Motor Music/Office 2024 Property Land & Fitting Vehicle Equipment Total £ £ £ £ £ £ 45,195 14,630 21,252 5,007 63,342 149,426 |
|---|---|
| 45,195 14,630 21,252 5,007 63,342 149,426 |
|
| 44,523 - 21,167 4,923 61,644 132,257 168 21 21 430 640 |
|
| 44,691 - 21,188 4,944 62,074 132,897 |
|
| 504 14,630 64 63 1,268 16,529 |
|
| 672 14,630 85 84 1,698 17,169 |
11. Creditors: Amounts falling due within one year
| 11. Creditors: Amounts falling due within one year | ||
|---|---|---|
| Accruals & Deferred Income Other Creditors |
2024 £ 58,307 4,071 62,378 |
2023 £ 59,887 2,809 |
| 62,696 |
Page 15
Christian Life Ministries Thamesmead Trust Notes forming part of the financial statements for the year ended 31 October 2024
12. Net incoming resources for the year
| This is stated after charging: | 2024 | 2023 | |||
|---|---|---|---|---|---|
| £ | £ | ||||
| Depreciation | 640 | 846 | |||
| Accountancy Fees | 1,375 | 1,300 | |||
| 2,015 | 2,146 | ||||
| 13. Current Asset/Cash In Hand and at Bank | 2023 | 2022 | |||
| £ | £ | ||||
| HSBC Bank | 28,667 | 30,862 | |||
| Petty Cash | 754 | 158 | |||
| 29,421 | 31,020 | ||||
| 14. Analysis of Net Assets Between Funds | |||||
| General | Designated | Restricted | Total | ||
| Funds | Funds | Funds | Funds | ||
| £ | £ | £ | £ | ||
| Tangible Fixed Assets | 16,529 | - | - | 16,529 | |
| Current Assets | 29,421 | - | - | 29,421 | |
| Current Liabilities | (62,378) | - | - | (62,696) | |
| Net Assets at 31st October 2023 | (16,428) | - | - | (16,428) | |
| 15. Movements in Funds | At 1 November | Incoming | Outgoing | Transfers | At 31 October |
| 2023 | Resources | Resources | 2024 | ||
| [Inc Gains] | |||||
| £ | £ | £ | £ | £ | |
| Unrestricted Funds: | |||||
| General Funds | (14,507) | 76,078 | (77,999) | (16,428) | |
| Total Funds | (14,507) | 76,078 | (77,999) | (16,428) |
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 2024
| Income LESS OVERHEADS Staff Costs Salaries Pensions Contributions-NEST Gross Employers National Insurance Premises Costs Rent & Rates Water charge Property Service Fee Property Maintenance Light & Heat Bank Charges Bank Charges Administration Printing, Postage and Stationery Print & Design Telephone and Internet Charges Training & Counselling Fee 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 |
2024 £ 76,078 13,983 619 674 15,276 - 416 6,000 2,216 3,721 12,353 1,836 1,836 31 125 1,765 278 1,809 372 675 154 488 5,697 - 850 6,411 2,737 1,570 7,498 145 40 6,074 25,325 1,375 1,375 2,145 2,951 640 1,298 246 632 7,937 288 16,137 77,999 (1,921) (14,507) (16,428) |
2023 £ 69,180 12,708 511 487 |
|---|---|---|
| 13,706 6,042 - - - 9,181 |
||
| 15,223 1,051 |
||
| 1,051 807 - 1,698 196 1,398 919 2,031 - 572 |
||
| 7,621 - 1,650 2,952 5,237 4,090 13,134 - - 2,000 |
||
| 29,063 1,300 |
||
| 1,300 1,869 302 846 1,153 459 164 1,571 374 |
||
| 6,738 (74,702) |
||
| (5,522) | ||
| (8,985) | ||
| (14,507) |
This page does not form part of the statutory accounts.
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