Registered number: 03907471 Charity number: 1079614 ## **CHRIST APOSTOLIC CHURCH STOCKWELL** **REPORT AND FINANCIAL STATEMENT** **FOR THE YEAR ENDED 31/12/2021** **CHRIST APOSTOLIC CHURCH STOCKWELL** **FINANCIAL STATEMENTS FOR THE YEAR ENDED 31/12/2021** ## **TRUSTEES** ## **REGISTERED OFFICE** 100 STEWART ROAD OFF WANDSWORTH ROAD LONDON SW8 4UG ## **COMPANY NUMBER** 03907471 **CHARITY NUMBER** 1079614 page 1 ## **CHRIST APOSTOLIC CHURCH STOCKWELL** ## **ACCOUNTS** ## **FOR THE YEAR ENDED 31/12/2021** ## **CONTENTS** ||Page| |---|---| |Report of the Trustees|3| |Independent Examiner's Statement|4| |Accountant's Report|6| |Statement of Financial Activities|7| |Balance Sheet|8| |Notes to the Accounts|9 to 13| page 2 ## **CHRIST APOSTOLIC CHURCH STOCKWELL** ## **TRUSTEES' REPORT** ## **FOR THE YEAR ENDED 31/12/2021** The trustees present their report and accounts for the year ended 31/12/2021. ## **PRINCIPAL ACTIVITIES** The principal activities of the charity in the year under review was Christian worship, Christian outreach program to increase Christian awareness and to spread the gospel of our Lord Jesus Christ and the development of the whole man spiritually, mentally, and physically **.** The report was prepared in accordance with the special provisions within Part 15 of the Companies Act 2006. This report was approved by the Board of Trustees on the 18/09/2022 and signed on their behalf by: ............................................................... Superintendent Michaiah Akinyele Olaniyi Chairman Board of Trustees page 3 ## **CHRIST APOSTOLIC CHURCH STOCKWELL** ## **INDEPENDENT EXAMINER'S STATEMENT** ## **FOR THE YEAR ENDED 31/12/2021** ## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CHRIST APOSTOLIC CHURCH STOCKWELL** I report on the accounts of the company for the year ended 31/12/2021. ## **RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER** The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. The charity's gross income exceeded £25,000 and I am qualified to undertake the examination. Having satisfied myself that the charity is not subject to an audit under company law and is eligible for independent examination, it is my responsibility to: - examine the accounts under section 145 of the 2011 Act. - follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act: and - state whether any matters have come to my attention. ## **BASIS OF INDEPENDENT EXAMINERS STATEMENT** My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a "true and fair view" and the report is limited to those matters set out in the statement below. page 4 ## **CHRIST APOSTOLIC CHURCH STOCKWELL** ## **INDEPENDENT EXAMINER'S STATEMENT** ## **FOR THE YEAR ENDED 31/12/2021** ## **INDEPENDENT EXAMINERS STATEMENT** In connection with my examination, no matter has come to my attention: - (1) which gives me reasonable cause to believe that in any material respect the requirements: - to keep accounting records in accordance with section 386 of the Companies Act 2006; and - to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities have not been met, or (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. ROSAB Accounting & Tax Services 38 Cross Lane East Gravesend Kent DA12 5HH page 5 ## **CHRIST APOSTOLIC CHURCH STOCKWELL** ## **ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE UNAUDITED ACCOUNTS OF CHRIST APOSTOLIC CHURCH STOCKWELL, FOR THE YEAR ENDED 31/12/2021** In order to assist you to fulfill your duties under the Companies Act 2006, we have prepared for your approval the accounts of CHRIST APOSTOLIC CHURCH STOCKWELL for the year ended 31/12/2021 as set out on pages - to (1) from the company's accounting records and from information and explanations you have given us. This report is made solely to the Board of Directors of CHRIST APOSTOLIC CHURCH STOCKWELL, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of CHRIST APOSTOLIC CHURCH STOCKWELL and state those matters that we have agreed to state to the Board of Directors of CHRIST APOSTOLIC CHURCH STOCKWELL, as a body, in this report, in accordance with the requirements of the as detailed on their website. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than CHRIST APOSTOLIC CHURCH STOCKWELL and its Board of Directors as a body for our work or for this report. It is your duty to ensure that CHRIST APOSTOLIC CHURCH STOCKWELL has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profitability of CHRIST APOSTOLIC CHURCH STOCKWELL. You consider that CHRIST APOSTOLIC CHURCH STOCKWELL is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the accounts of CHRIST APOSTOLIC CHURCH STOCKWELL. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts. ROSAB Accounting & Tax Services 38 Cross Lane East Gravesend Kent DA12 5HH page 6 ## **CHRIST APOSTOLIC CHURCH STOCKWELL** **Statement of Financial Activities for the year ended 31/12/2021** |**Unrestricted**
**funds**
**£**
**Income**
**Notes**
Income from generated funds
Income from charitable activities
130,988
**Total Income and endowments**
**2**
**130,988**
**Expenses**
Expenditure on Raised funds
-
Expenditure on Charitable activities
104,018
**Total Expenses**
**3**
**104,018**
**Net Income**
**26,970**
**Net movement in funds:**
**Net income for the year**
**26,970**
Total funds brought forward
443,145
**Net funds carried forward**
**4**
**470,115**|**Restricted**
**funds**
**£**
-
**-**
-
-
-
**-**
**-**
-|**2021**
**Total**
**£**
130,988
**130,988**
-
104,018
**104,018**
**26,970**
**26,970**
443,145
**470,115**|2020
Total
£
163,510
163,510
-
70,938
70,938
92,572
92,572
350,573
**443,145**| |---|---|---|---| This statement of financial activities includes all gains and losses recognized in the year. All income and expenditure derive from continuing activities. page 7 ## **CHRIST APOSTOLIC CHURCH STOCKWELL** **BALANCE SHEET AT 31/12/2021** |**Notes**
5
6
7
**8**
**FIXED ASSETS**
Tangible assets
**CURRENT ASSETS**
Prepayments
Cash at bank and in hand
**CREDITORS: Amounts falling due within one year**
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT LIABILITIES**
**CREDITORS: Amounts falling due after more than one year**
**NET ASSETS**
**Unrestricted funds**
Balance brought forward.
Net income/(deficit) over expenditure
Revaluation Surplus
**Balance as at 31 December 2021**|**2021**
**£**
2020
£
1,657,189
1,657,189
-
154,425
-
123,655
154,425
123,655
(800)
(800)
153,625
122,855
1,810,814
1,783,844
1,810,814
1,783,844
443,145
350,573
26,970
92,572
1,810,814
1,783,844
1,340,699
1,340.699
-
-| |---|---| For the year ending 31/12/2021 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime. ## **Approved by the board of trustees on the 18/09/2022 and signed on their behalf by** ............................................................... Superintendent Michaiah Akinyele Olaniyi Chairman Board of Trustees page 8 ## **CHRIST APOSTOLIC CHURCH STOCKWELL** ## **NOTES TO THE ACCOUNTS** **FOR THE YEAR ENDED 31/12/2021** ## **1. ACCOUNTING POLICIES** ## **1a. Basis Of Accounting** The accounts have been prepared under the historical cost convention. The accounts have been prepared in accordance with FRS102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities. ## **1b. Incoming Resources** All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. ## **1c. Resources Expended.** Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. ## **1d. Allocation and Apportionment of Costs** All costs relate to the single activity of the charitable company and are recognized accordingly. ## **1e. Fund Accounting** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for restricted purposes. Designated funds are funds set aside by the trustees out of unrestricted general funds for the specific future purposes or projects. ## **1f. Depreciation** Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives. Equipment – Straight line method 25% ## **1g. Turnover** Turnover represents the invoiced value of goods and services supplied by the company, net of value added tax and trade discounts. page 9 |**CHRIST APOSTOLIC CHURCH STOCKWELL**||| |---|---|---| |NOTES TO THE FINANCIAL STATEMENTS continued.
**DONATIONS AND SIMILAR INCOME**
Tithe/Commitment
Offering & Thanksgiving
Donation received
Fisrt Service
Gift Aid HMRC
Children's Offering
Church Anniversary
Band Anniversary
Sunday School Collection
Seed of Blessing
Midweek Collection
Child Dedication
Dorcas Foundation
Vows
72 Hour Prayer
Youth Ministry
Saturday Divine prayer
Refunds
TOTAL
**SALES OF BOOKS**
Sales of Prayer books
**INVESTMENT INCOME**
Letting Income
Embassy Church
Mustard Seed
Hall Rent
BMW Motor
Eminirekan-Rent
St Joseph Training School
Interest received
**TOTAL INCOMING (UNRESTRICTED) RESOURCES**||**2021**
**2020**
**£**
**£**
45,879.00
58,286.00
35,787.00
30,568.00
125.00
-
598.00
5,354.00
13,474.00
16,863.00
-
1,005.00
2,284.00
-
-
1,321.00
-
-
250.00
228.00
242.00
100.00
-
**98,909.00**
**117,766.00**
**12.00**
7,466.00
13,465.00
8,287.00
-
-
22,500.00
22,500.00
-
1,380.00
2,100.00
100.00
-
**45,732.00**
**130,988.00**
**163,510.00**
-
1,009.00
181.00
2,729.00
150.00
-
-
-
110.00
81.00
51.00
-
-
-
13.00
**32,079.00**| **page10** |**COST OF GENERATING FUND**
Printing & Advertisement
**Cost of Activities in Furtherance of Charity's Object**
Mortgage & Rent
Evangelism & Mission expenses
Music Department
Youth Ministry
Children church
Sunday school Department
Visiting Clergy & Honorarium & Menu
CAC headquarters
Members & public welfare
Charitable Donations
Saturday Divine prayer
Anniversary expenses
72 Hours Prayer
**Expenditure on Managing/Administering of the Charity**
Wages and NIC
Staff training and development
Light, heat & water
Telephone & Other communication systems
Stationery
Media/Choir
Caretaker/Cleaning
Repairs and maintenance
Legal and Professional fees
Bank charges
Insurance & security
Motor van and travelling expenses
General expenses
Depreciation
Stockwell Ventures
Conference & Seminars
**TOTAL EXPENSES**|**2021**
**2020**
**-**
**-**
19,200.00
19,200.00
670.00
1,600.00
11,620.00
570.00
989.00
650.00
150.00
721.00
617.00
2,029.00
343.00
2,380.00
4,124.00
1,870.00
4,393.00
7,520.00
350.00
570.00
170.00
1,648.00
100.00
-
-
**49,448.00**
**32,036.00**
10,883.00
8,800.00
1,700.00
8,248.00
5,870.00
1,043.00
1,044.00
641.00
550.00
10,179.00
431.00
8,418.00
11,550.00
6,831.00
2,242.00
2,550.00
750.00
6.00
-
1,228.00
1,857.00
1,191.00
2,145.00
1,606.00
1,464.00
-
-
46.00
-
**54,570.00**
**38,902.00**
**104,018.00**
**70,938.00**
**-**
**2,199.00**| |---|---| **page 11** |**FUNDS**
Unrestricted
Restricted
Funds
Funds
**£**
**£**
At 1 January 2020
443,145.00
Surplus/(deficit) for the year
26,970.00

Transfer of funds
-
**At 31 December 2021**
**470,115.00**
-
-
-
-|Total
Funds
**2021**
**£**
443,145.00

26,970.00
-
**470,115.00**
|Total
Funds
**2020**
**£**
350,573.00
92,572.00
-
**443,145.00**| |---|---|---| **page 12**