CHRIST APOSTOLIC CHURCH (HOUSE OF REFUGE) REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 CHARITY NO:1079846
CAC (HOR) Financial Report & Accounts 2023.xlsx Christ Apostolic Church (House of Refuge) Financial Statements for the Year Ended 31 December 2023 Contents Legal and Adminstrative Inforniation Report of the Trustees Independent examiner's report Statement of Financial Activities Balance Sheet Notes forniing part of the financial statements 8-11
CAC (HORI Financial RepDrt& Accounts 2023.xlsx Christ Apostolic Church(Hollse of Refuge) Flnanclal Statements for the Year Ended 31 De¢ember 2023 The Trustee8 present its report and fmancial statements for the Ye ended 31 December 2023. R¢f¢r¢n¢¢ and AdmlAlstratlv¢ Informatlon Charlty Nam¢: Chrl8t Apt011C Chur¢h (House of Refvgo Pa8tot In Char Pastor M.0 Adekeye - Chair ChaTlty R•8l#trntlon Number 1079846 R¢glstered Offle¢ and OperAtIottAI AddTei•: Christ Apostolic Churchl Hou8e of Refuge) IBabalola House) Hul$e Avenue Collier Row Romford, London, RM7 8NS Trn•tee8: Pa8tor M.0 Adekeye - Chair Mr. O.A Oladu4ioye - Treasurer Pastor J. Akanni MT. A. Ayoola A¢countant•: JOFETRISE Consulting Ltd Accountant$ &Con8ult8nts 60 Ov8J Road North Dagenh8m E$8ex RMIO 9bL Banknr*: Lloyd8 Bank PIC Natwest Bank PIC
IHOPI nAnCIal*ep0rt&A[(Trt52D23l Chrlst Apo$lolic Church (House of Refuge) Finanelal Slatemellts for the YeAr Ended 31 December 2023 3. Specific activities to redu¢¢ poverty in the areas of training and mentoring of unemployed to start their own businesses and passing job information to job seekers. c. Grant Making PoliLies Grants are made to other thyritable bodie& The church sUPPQrts missionary Org1zatIonS such as other missions and projects within Oulsid¢ th¢ UK. 'I'he churih also provides sUPPOrt to members of the congregation (at the dis¢r¢tion of the trusle¢s) who are in nLed. d. Volunteers The church is grateful for the Gommitmeni and efforts of its volunlecrs who are involved in serviGes provision. The Church h&$ 3 volunteers who worked this year which would have cost the Church £54,000. 'fhesc voluntcers are committed to working in various departments within the church. The church continues to dispense the SCTvice of h¢ads of uniis and Ministers lo ensure that the best vatue 18 dcrived from the sterling efforls of the volunieer& e. Risk Managerncnt lThe Trusl¢es have asscssed the major riyks to which the charity is exposed. in particular those rL'laled to thL operations and finances ofthe charity, and ar¢ satisfied Ihat systems are in place to rniligate against exposures lo the major risks. Thc Trusl¢es &r¢ plLased lo report thut ihe Church conlinued to bc ¥uc¢¢ssful Spirilually by minisl¢ring to many peopl in prayer and welfare. The Church has improv¢d in mcmb¢n>hip strength I is increasingly reaching out to the Communily. CAC (Howc ofRefuge) has engag¢d in Lommunity devLlopment in th¥ following ways.. l. Yearly seminar and LvangLlisli¥ outreach 2. From lime to time WL participate in dealing with moral issues within our communily by holding christian event8 whLre we educate piople against gun and knife crimes. 3 We constantly 5UPPOrt people with di5abilitie.s in our communily, via monetary assistance and spiritual counseling. During the ycar, inwme of £145,920 (£146,182 in 2022) was received as Volunt4 dona¢ions, The n¢1 movem¢nl in funds for the pcriud, us shown in Ihe slatement of financial activities, for the PLriod w&8 a surplu5 of £21,899 (was a surplus of £51.586 in 2022). 'I'he value of Chrsil AposLoli¢ Churih net assets ul 3 1st December 2023 iy £ 729.458(31 st D¢¢¢mber 2022 wus £707,559). 'I'he charity aims at building on ils Current u¢hievement in eiTectively spreading the cih05, love and hope that Christian faith offers. It also aims at building upon its currcnt errorts of community involvemenl in its bid to makL our communily and the lurg¢r world a bLtL'r pl¢ for all.
C4CIHORI Flnèntlal RepM&AGeounts2023.s Christ Apostolic Chureh (House of Refuge) Finanelll StAtements for the yr Ended 31 December 2023 Responsibllltiu of the Trustees The Trustces aTe responsible for preparing the Annual Report and the financial stst¢ments in accordance with applicable law and regulations. Charity law require5 the Trustees to prepare financial stal¢ments for each finaii¢ial year. Under ihat law the Charity law qUireS Ihe Trustees to prepare finan¢ial statements for eh finan¢iat year which give a true and fair vicw. Trustees have elected lo pr¢pare the fllwicial ststements in accordance wlth United Kingdom GeneTaJly Accepted Accounting Practice (United Kingdom Accounting Standards and appli¢able law). The financial statements are required by law lo give a true and fair view of thc state of affairs of the Church and of the surplus or deficit of the Church for that period. In preparing these fjnancial statements, the Trustees are required to: • select sultable accounting policies and then apply them consistently. make judgments and ¢stimaies that ar¢ reasonuble and pNdent; prepare the financial statements on the going concern basis unless it is inappropriate to presume that the church will conlinue in operation. The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the Church and enable them to ensure that the financial statements comply with the Charities Act 1993. They are also reswnsible for safeguarding the assels of ihe Church and hence for taking reasonable steps for the prcvention and deleGtion of frnud and other irregularities. Indep¢ndent Examlner The Trusic¢s appoini¢d Jofeirise Consulting Limit¢d (Ac¢ountants) as the Charity's independent examiner. A resolution for re-appointment as independeni examiner will be proposed during the Trnstce8 meeling for the year 2024. This report approved by the trustces on the £9 July 2024 and signed on its behalf by.. Pastor M.0 A( ekeye Tru8tee's Chairman .A. Olftdunjoye Church TreAsurer
CKIHOR) FInaVd1 Ripurt &k¢¢unts 20th&K Cbrist ApostolSe Chutth {House of Refuge) Finanei41 Statements for tbt Y¢ar Ended 31 Deeember 2023 Independent Examiners Report We havL exarnined the financial ststements. whiLh comprise the tinancial activities. the balance sheet, the related noles and the accounling policies of Cbrist Apostolic chUh (House of Retuge) for the year ended 31st December 2023. Respeetive respoDslbilltles of trustees and independent ¢xamlD¢r As described on page 4, trustees are responsible for the prepuration of the financial statements. It is our r¢spon- bibility to carry out an examfftnalion uf those financial statements and to I5SUL a report b&sed on that examinativn. Seope of ¢xAmiDatlon We Conducted our examination in accordance with directions given by the Charity Commissioner8 undLr section 43(7Mb) of the Charities Act 1993. An ex&minulion is limited to enquiries of the charity's perJonnel and tytiCal and rL'view proccdures applied to financiÉtl data and thi8 provides less assurance than an audit. WL have not perfornied an audit, and accordingly, w¢ do not expr¢ss on audit opinion. Ind¢pendent ex4mlner'$ sÉal¢ment In cunnection with our examination, no matter has come to i)ur 8tL'nlion: l. Which givcs us reasonable cause tu believe that in material respect thi requirements: . Tv keep accounting reLords in accordance with section 41 of ihL Acl. and 'L'o prepare accounls which accord with th¢ accounting rLtords and to comply with the accuuntin8 requircmLnts of the Act have not been met; or 2. To which in our opinion, atiention should bc drawn in order to Lnable a proper underslanding of the accounts to be reached. John nesan ACAI .. FCCA 8i8ncd and daied) Jofctri Acco n5uliing l.imited ts& Consultst$ 60 Oval Road North Dagenham Jofetrise Consulting LIMITED 60 Oval Rpad North Da8enham. Essex RMIO 9EL Y: Q20 3759 6269, M: 0784685 3303 E". lohn@lofertrlseconsulting.com W: www.joletriseconsuliing.corn 4.,12(4 RMIQ 9EL CACIHOHI FlnanckilRqpJrt &Ac¢ount$ 2028Jlx¥
CA£WOflI FInMcIREQrta1ÉCounI1 2023.xky Christ ApostDli¢ Cburcb (House of Refuge) StAtement of Tr inaneial Aetii'ities(includlng Income and Expenditu Account) for the year ended 31st December 2023 2023 Unr¢slricled 2023 R¢stricted Funds 2023 2022 TDtsI FndS No¢¢J Funds Incoming R¢$ource$ Incomlng Resources from generated funds Volwitary Income.. Tithes and Offerings Other Incon Grants Tolal In¢oming resouree5 115,233 30,687 115.233 30.687 109.739 32.999 145 920 RourCeS E%pendcd Cosi of generating Voluntary funds Grantlchoritablc Activitics Governance Cost 7,374 50.143 66.505 7.374 50.143 66.305 564 19,983 72,756 Tot#1 Re$ourceq Expended 124 021 124,021 .Ytt Intomlnxl(Out%olngl Resour¢e$ h¢fore other recogni$¢d %91n(Lo$S) 21.899 21,899 66,487 Net Mow¢mertl in Tr'unds Reeon¢llla¢ offundy 'Ioial funds brouglLt forward 21,899 657 626 21,1199 707.559 66,487 589,486 Totsl funds ¢orrled forward 679.523 729 458 65S 973 Thc statement of finaniilll a¢tivilies include$ all gains and los¢8 in thc Yc. All incoming resources and r¢sourees expended d¢rivc from ¢ontinuin8 a¢tivilies
CACIHORI FInalI Rewrt&Attounts 2023.x15X Christ Apostolic Church (Hous¢ of Refuge) Balance Sheet as at 31 December 2023 2023 2022 Notes Fixed Assets Tangible 644.407 684,729 Current Asset5 Debtur&fr¢payments Cash at bank and in hand 3.450 180,854 184 304 450 143,726 144 176 Creditors.. Amount falling due within a yvar 700 700 Net CurreDt AssetslLiabllities 183,604 143,476 Creditors,. Amount falling due more than a year 123,867 172,231 Net AssetslLiabilitles 704 144 655 974 Total Funds 729 458 655 973 The Balancc she¢l end ac¢ompanyin8 not¢s wa5 approved by the Board of trnstees ......... and signed on its behalf by '. Pastor M.0 Adekeye Tru5tees' Chalr July,2024
CACIHORI Flrthntt R•port& Ats2o23.&x Christ Apostolic Church (House of Refuge) Not# forming part of the financial statements for the year ended 31 December 2023 l. Aeeounting Polici Th¢ finanL'ial statements have been PTepared in accordan¢e with applicable Accounling Standards in the United Kingdom with the application of FRSSE and the Statement of Recommended Practice. "Accounting and Rewrting by Charities" ("SORP 2000 and SORP 2005") issued by ihe Charity Commission. A summary of the principal accountin8 policies. which have been applied consistently, is set out below. (a) BASIS of Attounting The financial statements are prepared under the historic cost convention and include th¢ results of the Charity's operations, which are described in the Trust¢¢s Report. all of which are continuing. (b) ComparAtive Figures Comparative figures are shown on the statement uf Accounts of the charity. (c) Incoming Resourees All Income is credited to the Slaternent of Financial Activities on the earlier date of when they are received or when they are receivable. (d) Restricted thnds Restricled funds are lo be used for specifi¢ purposcs as specified within the objects of the Charity. Expenditure, which meets these Criteri will be id¢ntified to the fund, tog¢ther with a fair allocation of managcm¢nt and $llprt costs, (e) Unrestricted Funds Unrestricted funds arc donations and oiher incomes reccived or generated for the objects of the Charily Wlthout further specified purpose and are availablc for gcnernl funds. (fj Resources Expended Direct Charitable Expendiiure includes all expenditure inCUTred by the Charity in direct pursuit of its charitable objectives. Governance expenditure includes all costs not directly related to the Charitable activities and cannot bc allocated to direct charithble expenditure. {g) Donated Services and Glfts fin Kind The value of donuted services and gifts in kind provided to Chrsit Apostolic Chur¢h(HOR) is recognised in the notes statement of financial uctivities and in the Balance Sh¢et al their value to the charity, as deterniined by the Trnste¢s, in the period in whi¢h they are receivable, and where the benefit 15 both quantifiable and mat¢rial. l. Fixed Assets Fixed assets (excluding invLStments) are stated at cost less aeKumulalcd depreciation. The cost of minor additions or those costing below £1 00 are not Capitslised. Deprecialion is provided at rates calculated to writ¢ off the Cost of ¢a¢h asset over over their esttmated useful economic lives. Full yedr d¢pre¢iation is charged in the year of acquisition, irrespeciive of the date ofpurchase and no deprcciation is charged in year of assei disposal. The following rates are to be ud except where the asset is on a finance lease where the lower of the period of repayment and the useful life is applied. Musical Inslrument 25 % on reducing balance method Fixtures, fitlings and cquipment 25Yo on reducing balanc¢ Method Computer Equipment is 25 /0 on reducing balance Property Improvement is 10 % on reducing balan¢¢
C4CIHORI FlrnrKkl RepDrt &Accounts Chris¢ Apostolie Church (House of Refug¢) otes forming part of the fm&nciJl statements for the yeAr ended 31 Dee¢mber 2023 2. Donations llncomes Unre.Flrlcled Restrlcted 2023 Total 2022 Total 116,026 3,366 71$3 24,862 1.145 17,052 163.234 Tithes &Offerings Armiversary Lontributions Thanksgiving Gill Aid reclaims Other income Grants 115,233 3,070 1,371 23,236 3,010 115.233 3.070 1.371 23,236 3.010 145 920 3. Total Resources Expended Cost of generating VolunW funds Unrestrlcted Reslrlcled 2023 Total 2022 Total Printing &Stationery 7.374 7,374 8,982 7374 8.982 2022 4. GrantlDunation unr(rICted Reslrlcted 2023 rrtal r)onationlCiifVb¢nevolent Evan8eli8m, Ln]8adL and Conferenccs 40,581 9,562 40,581 9,562 14,764 9,425 5. Govcman¢e Cosls Unreslrlcled Re51rlcled 2023 Total 2022 SalariLs & Allowanc SeLurily System Repairs &Maintetwice Tr&veltTranswrtlHotellAcLomodation Electricily & Li¥htingl Water/ G&$ Rates & Insurance Volunleers Alloawanccs Telephone and fax Professional fees Anniversary Bank ¢hages & l.oan interest Sundry Expenses Accountancy Foe Depreciation 330 1,752 592 7,336 2,810 11,700 1,149 2,692 3,878 5.029 5,767 700 22,770 330 1,752 592 7,336 2,810 11,700 1,149 2,692 3,878 5,029 5.767 700 22.770 360 3,420 764 3,091 787 11,870 1,591 2,100 5,115 795 4,342 700 26,489 CXIHORI FlnarKkol Rer(rft&AxOUts 20u.xl
CAC (HORI FIThithel Rew2rt&Accounts 2023.xlsx Christ Apostolic Church (House of Refuge) 6. Tangible Fixed Assets Please refer to page I I for Tangible Fixed Assets Schedule 7. Debtors and Prepaym¢nts Unrestricted Restricted 2023 Tolal 2022 Totsl tkbtors 3,450.00 3 450.00 3,450.00 3 450.00 450 450 8. Creditors: Amounts falling due witbln One year Unrulrlcted Restrlcled 2023 Total 21122 To¢al Other Creditors Accrual 700 700 700 700 700 700 9. Creditors: Due After One Year Bank Mortgage Bank Loan Bounce Bank Loan -Llyods 103,016 103,016 103,016 8,784 27,207 172 231 20,851 123 867 10. Trustees Remuneratlon and ReimbMrs¢ment of Expenses: The Trusteos did not receive any rernuneration in this financial year. 20,851 123 867 I l. Related Party transactions Chrs'it Apostolic Church-{Hous¢ of Refuge) is a local branch of Christ Apostolic Church Worlwidc but not consolidated into one (ie The Headquarter) SCHEDULE OF BANK BALANCES sic AIC NO BANKS BALANCES Lloyds 30-84-76 59266960 52,611.89 Natwest 60-09-23 60-09-23 60-09-23 64826120 75128462 64835154 17,817.76 897.01 252.08 Busin¢ss reserve alc Lloyds 30-84-76 78468960 106,346.29 Lloyds 30-84-76 78468268 2,928.47 180 853.50 10
CAC(HORI Fina1 RepOTt&knwDts2l23x Chris¢ Apostolic Cbureh (Hous¢ of R¢fug¢) Nvtes forming part of the fillan¢ial statements for the year ended 31 December 2023 6. Tangible Flxed Asset5 2023 Fixture Flttings& equlpment Freehold Property Property Improvement Musical equlpmeDt Total COST Al l January 2023 Additions in period At 31 Deeember 2023 482,500 233,780 19,774 1,215 93.659 829,713 Is 830,928 482,500 DEPRECIATION Al l January 2023 Charge in period Al 31 Decemb¢r 2023 77,788 9,140 2,962 76,823 163,751 93 87 NET BOOK VALUE At 31 Deeembcr 2023 140 393 12,627 644 407 At 31 December 2022 155,992 16.836 66S.962 11