Registered number: 03907471 Charity number: 1079614 ## **CHRIST APOSTOLIC CHURCH STOCKWELL** **REPORT AND FINANCIAL STATEMENT** **FOR THE YEAR ENDED 31/12/2023** **CHRIST APOSTOLIC CHURCH STOCKWELL** **FINANCIAL STATEMENTS FOR THE YEAR ENDED 31/12/2023** ## **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 31/12/2023** ## **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 31/12/2023** The trustees present their report and accounts for the year ended 31/12/2023. ## **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 18/09/2024 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 31/12/2023** ## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CHRIST APOSTOLIC CHURCH STOCKWELL** I report on the accounts of the company for the year ended 31/12/2023. ## **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 31/12/2023** ## **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** ## **Statement of Financial Activities** ## **for the year ended 31 DECEMBER 2023** |**Unrestricted**
**Notes**
**Funds**
2
136,887.00
Sale of books
2
300.00
2
33,876.00
171,063.00
**4**
1,497.00
**5**
51,930.00
**6**
102,008.00
155,435.00
15,628.00
0.00
0.00
15,628.00
485,335.00
**7**
500,963.00
**Balance at 1 January 2021**
**Balance at 31 December 2023**
**Total Resources Used**
**Net Incoming/(Outgoing) Resources**
**Gains and Losses**
- Gains/losses on assets for own use
- Gains/losses on investment assets
**Net Movement in Funds**
Expenditure on managing/administering the charity
**Incoming resources**
Donations & similar incoming resources
Activities in furtherance of the charity's objects
Investment income
**Total Incoming resources**
**Resources Used**
Cost of generating funds
Cost of activities in furtherance of the charity's objects|**Unrestricted**
**Notes**
**Funds**
2
136,887.00
Sale of books
2
300.00
2
33,876.00
171,063.00
**4**
1,497.00
**5**
51,930.00
**6**
102,008.00
155,435.00
15,628.00
0.00
0.00
15,628.00
485,335.00
**7**
500,963.00
**Balance at 1 January 2021**
**Balance at 31 December 2023**
**Total Resources Used**
**Net Incoming/(Outgoing) Resources**
**Gains and Losses**
- Gains/losses on assets for own use
- Gains/losses on investment assets
**Net Movement in Funds**
Expenditure on managing/administering the charity
**Incoming resources**
Donations & similar incoming resources
Activities in furtherance of the charity's objects
Investment income
**Total Incoming resources**
**Resources Used**
Cost of generating funds
Cost of activities in furtherance of the charity's objects|**Restricted**
**Funds**
0.00
0.00
0.00|**Total**
**Funds**
**2023**
136,887.00
300.00
33,876.00|**Total**
**Funds**
**2022**
128,724.00
213.00
40,995.00| |---|---|---|---|---| ||171,063.00|0.00|171,063.00|169,932.00| ||1,497.00
51,930.00
102,008.00|0.00
0.00
0.00|1,497.00
51,930.00
102,008.00|1,431.00
63,286.00
89,995.00| ||155,435.00|0.00|155,435.00|154,712.00| ||15,628.00
0.00
0.00|0.00
0.00
0.00|15,628.00
0.00
0.00|15,220.00
0.00
0.00| ||15,628.00
485,335.00|0.00
0.00|15,628.00
485,335.00|15,220.00
470,115.00| ||500,963.00|0.00|500,963.00|485,335.00| Page 7 **CHRIST APOSTOLIC CHURCH STOCKWELL BALANCE SHEET AS AT 31 DECEMBER 2023** |Notes
**£**
**£**
**Fixed Assets**
Tangible
1,657,189.00
**Current Assets**
Debtors
Cash & Bank Balance
185,073.00
185,073.00
**Creditors: Amount falling due**
(600.00)
**within one year**
**Net Current Assets**
184,473.00
**Creditors: Amount falling due**
(.00)
**after more than one year**
**Net Assets/(Liabilities)**
1,841,662.00
**Funds**
.
**REPRESENTED BY:**
**CAPITAL ACCOUNT**
Balance b/f
485,335.00
REVALUATION SUPLUS
1,340,699.00
Net Income/(deficit) over Expenditure
15,628.00
Balance at 31st DECEMBER 2023
1,841,662.00
**BALANCE SHEET AS AT 31 DECEMBER 2023**|Notes
**£**
**£**
**Fixed Assets**
Tangible
1,657,189.00
**Current Assets**
Debtors
Cash & Bank Balance
185,073.00
185,073.00
**Creditors: Amount falling due**
(600.00)
**within one year**
**Net Current Assets**
184,473.00
**Creditors: Amount falling due**
(.00)
**after more than one year**
**Net Assets/(Liabilities)**
1,841,662.00
**Funds**
.
**REPRESENTED BY:**
**CAPITAL ACCOUNT**
Balance b/f
485,335.00
REVALUATION SUPLUS
1,340,699.00
Net Income/(deficit) over Expenditure
15,628.00
Balance at 31st DECEMBER 2023
1,841,662.00
**BALANCE SHEET AS AT 31 DECEMBER 2023**|Notes
**£**
**£**
**Fixed Assets**
Tangible
1,657,189.00
**Current Assets**
Debtors
Cash & Bank Balance
185,073.00
185,073.00
**Creditors: Amount falling due**
(600.00)
**within one year**
**Net Current Assets**
184,473.00
**Creditors: Amount falling due**
(.00)
**after more than one year**
**Net Assets/(Liabilities)**
1,841,662.00
**Funds**
.
**REPRESENTED BY:**
**CAPITAL ACCOUNT**
Balance b/f
485,335.00
REVALUATION SUPLUS
1,340,699.00
Net Income/(deficit) over Expenditure
15,628.00
Balance at 31st DECEMBER 2023
1,841,662.00
**BALANCE SHEET AS AT 31 DECEMBER 2023**|Notes
**£**
**£**
**Fixed Assets**
Tangible
1,657,189.00
**Current Assets**
Debtors
Cash & Bank Balance
185,073.00
185,073.00
**Creditors: Amount falling due**
(600.00)
**within one year**
**Net Current Assets**
184,473.00
**Creditors: Amount falling due**
(.00)
**after more than one year**
**Net Assets/(Liabilities)**
1,841,662.00
**Funds**
.
**REPRESENTED BY:**
**CAPITAL ACCOUNT**
Balance b/f
485,335.00
REVALUATION SUPLUS
1,340,699.00
Net Income/(deficit) over Expenditure
15,628.00
Balance at 31st DECEMBER 2023
1,841,662.00
**BALANCE SHEET AS AT 31 DECEMBER 2023**|**2022**
**£**
-
178,204.00|**2022**
**£**
-
178,204.00|**£**
1,657,189.00
177,604.00
(.00)
1,834,793.00| |---|---|---|---|---|---|---| ||
185,073.00
(600.00)|||
178,204.00
(600.00)||| |||||||| ||||485,335.00
1,340,699.00
15,628.00|||470,115.00
1,340,699.00
15,220.00| ||||
1,841,662.00|||
1,826,034.00| Page 8 ## **CHRIST APOSTOLIC CHURCH STOCKWELL** ## **NOTES TO THE ACCOUNTS** **FOR THE YEAR ENDED 31/12/2023** ## **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. |2 **DONATIONS AND SIMILAR INCOME**
Tithe/Commitment
Offering & Thanksgiving
Building/Double Glazing Contributon from saving statement
Fisrt Service
Gift Aid HMRC
Children's Offering
Church Anniversary
Band Anniversary
Sunday School Collection
Seed of Blessing
Midweek Collection
Child Dedication
Last Collection
Vows
72 Hour Prayer
Youth Ministry
Saturday Divine prayer
Refunds
**TOTAL**
**SALES OF BOOKS**
Sunday School Booklet
Sales of Prayer books
**INVESTMENT INCOME**
Letting Income
Embassy Church
Mustard Seed
Hall Rent
BMW Motor
Eminirekan-Rent
CAC MEDWAY
St Joseph Training School
Interest received
**TOTAL INCOMING (UNRESTRICTED) RESOURCES**|**2023**
**£**
54,519.00
55,033.00
4,014.00
-
12,079.00
263.00
7447.00
1,241.00
30.00
-
2.00
-
477.00
445.00
68.00
475.00
794.00
-|**2022**
**£**
38,283.00
46,860.00
24297.00
-
7,935.00
5.00
1631.00
8,228.00
294.00
-
-
-
456.00
61.00
-
22.00
652.00
-| |---|---|---| ||**136,887.00**|**128,724.00**| ||
300.00
**300.00**|
**213.00**
**213.00**| ||-
-
31,943.00
-
650.00
-
1,283.00|-
39,795.00
-
1,200.00
-| ||
**33,876.00**|**40,995.00**| ||
**171,063.00**|
**169,932.00**| **page10** |4 **COST OF GENERATING FUND**
Printing & Advertisement
5 **Cost of Activities in Furtherance of Charity's Object**
Vigarage 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
6 **Expenditure on Managing/Administering of the Charity**
Wages and NIC
Staff Cost - Organist
Staff Bonus
Staff training and development
Light, heat & water
Telephone & Other communication systems
Media/Choir
Caretaker/Cleaning
Repairs and maintenance
Legal and Professional fees
Insurance & security
Motor van and travelling expenses
General expenses
Office Computer
CAC Medway
Family Team
Chairs
Usher
T V Licence
Waste Bin
Paties
**TOTAL EXPENSES**|**2023**
**1,497.00**|**2022**
**1,431.00**| |---|---|---| ||
19,200.00
-
-
5,353.00
615.00
1,335.00
2,150.00
8,292.00
1,750.00
8,395.00
1,080.00
3,610.00
150.00|
19,300.00
831.00
12,410.00
620.00
1,140.00
400.00
3,426.00
4,324.00
11,175.00
4,190.00
910.00
4,560.00
-| ||**51,930.00**|**63,286.00**| ||
8,800.00
13,600.00
4,167.00
4,853.00
13,766.00
1,195.00
1,135.00
2,950.00
30,074.00
1,026.00
3,214.00
2,306.00
3,096.00
540.00
6,759.00
100.00
720.00
779.00
158.00
1,160.00
1,610.00
**102,008.00**|
10,883.00
-
-
1,930.00
11,194.00
1,194.00
10,749.00
4,773.00
43,428.00
875.00
1,286.00
1,201.00
2,482.00
-
-
-
-
-
-
-
-
**89,995.00**| ||
**155,435.00**|
**154,712.00**| **page 11** |7 **FUNDS**
At 1 January 2022
Surplus/(deficit) for the year
Transfer of funds
**At 31 December 2023**|Unrestricted
Funds
**£**
485,335.00
15,628.00
-|Restricted
Funds
**£**
-
-
-|Total
Funds
**2023**
**£**
485,335.00
15,628.00
-|Total
Funds
**2022**
**£**
470,115.00
15,220.00
-| |---|---|---|---|---| ||**500,963.00**|**-**|**500,963.00**|**485,335.00**| **page 12**