CHARITY NUMBER: 1082083 HOUSE OF HOPE CALVARY CHRISTIAN CENTRE TRUSTEES, ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
HOUSE OF HOPE CALVARY CHRISTIAN CENTRE TRUSTEES, ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 CONTENTS Pages Trustees, Annual Report 24 Independent Examiner's Report ReiptS and Payment Accounts Statement of Assets and Liabilities Notes to the Financial Statements
HOUSE OF HOPE CALVARY CHRISTIAN CENTRE TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2024 REFERENCE AND ADMINISTRATION DETAILS: CHARITY NAME: House of Hope Calvary Christian Centre REGISTERED CHARITY NO: 1082083 TRUSTEES: Rev Olufemi Oyewusi Babatola {Chair) Christiana Adanri Temitope Awolaja Taiyelolu Oyinloia Oyedeji Ishola CHURCH TREASURER: Mrs C.0. Adanri PRINCIPAL ADDRESS: 56 Hathille Road Plumstead London SE18 1DQ BANKERS: Barclays Bank PLC INDEPENDENT EXAMINER: Chaweevan Williams FCCA Chartered Certified Accountant Verdant Accountants Ltd 20-22 Wenlock road London N17GU STRUCTURE. GOVERNANCEAND MANAGEMENT The Charitable Organisation was registered on 18 August 2000 and is govemed by Constitution.
HOUSE OF HOPE CALVARY CHRISTIAN CENTRE TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2024 (continued) The Church Trustees present their annual report and the accounts for the period 12 months from 01 April 2023 to 31 Mar 2024. OBJECTIVES AND ACTIVITIES OBJECTIVES The objective of this charity is to advance the Christian Faith for the benefit of the public by the pronouncement of the gospel of Jesus Christ and the provision of religion services to the public in accordan with the statements of belief of the House of Hope Calvary Chnstian Centre. PRINCIPAL ACTIVITIES The church operated as a Charitable Organisation offering religious seminars and administration in the period under review. The Church is govemed by the Board of Trustees that is responsible for policies, strategies, activities and Setting out the administrative structure for running the Chanty. The Trustees continued to meet during the year to work on the strategy for the church and review outstanding policies and procedures The project plan already developed to list projects and priontise with defined timescales and budgets continued to be reviewed dunng the year. It is worthy to note that capital projects worth over £100K especially in relation to the church building continued to be progressed from the previous year and major works on the church have now been completed with just a few left on track to be completed in 2024-25. The Spiritual focus of the church has been based on a 4-stage rndel which the Lord gave to us. The stages are '. Growth Consolidation I strengthening I structure (putting things in place to sustain the healthy growth) Maturity (Spiritually and Emotionally) Release (Sending people on missions and other release) We are currenuy in between stages 2 and 3 to promote healthy and sustainable growth. Various seNices are now held in a hybrid model encompassing both physical attendance and online on Zoom, with worshippers joining from far and near. The online facility has facilitsted more convenient meetings and have also fostered the flourishing of the activities of the various departments of the church. As we continue to live Starn our SeiceS and want to reach out more to our community, we are forging ahead with the necessary investments and upgrades to our audio-visual systems which has continued to help us to move nearer to achieving this goal. The Church has taken time to write several policies and procedures so as to ensure that we abide by all relevant governance and best practi, these policies include lone working, Health & Safety, Fire, Safeguarding and other policies and pr0dUreS. We have been working on risk-assessments as required by legislats.on and now have them all in place. We have also been working towards full GDPR compliance and have removed all items that could cause a breach. Totsl Income for the year ended 31° March 2024 amounted to £70,428 which is £25,044 (260/0) lower than the period the previous year @ £95.472. This is mainly because of a backlog of gift aid claims for three years {2019-20 to 2021_22) which came through last year. We 2rÉ now on track with our gift aid claims which is now evident in the claim for 2022-23 evident in the 2023-24 accounts.
Total Expenditure for year ended 31, March 2024 amounted to £159,424 which is £102,256 {1790/,) higher than the period the previous year @ £57,168. This is because of the increase on fixed assets mainly the works on the church building mentioned above As at 31 March 2024. there was no investment held by the church and the total bank balanS and cash in hand amounted to £130,850 which is £88,896 lower than the previous period @ £219,846 whilst the total fixed assets arnounted to £1,293,284 which is £88.769 higher than previous period @ £1,204,515. The cash resources of the church were prudently and effectively managed during the year under réview and the church has continued to be debt free. Reserves The Board of Trustees considers that there are sufficient reserves held at year end to mitigate any downturn in future income_ The total unrestricted reserves at year end is £130,850 which is a decrease of £88,896 from previous period (£219:8461. Trustees also consider that the charity has adequate resources to continue in operation for the foreseeable future The church is marching on........... TRUSTEES, RESPONSIBILITIES The Trustees are responsible for preparing the Trustees Report and Financial Statements in accordance with applicable law and regulations. In prepanng these financial statements, the trustees are required to: a) select suitable accounting policies and then apply them consistenuy., bl observe the methods and principles in the Charities SORP. c} make judgements and accounting estimates that are reasonable and prudent., dl state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial ststements- and el prepare the financial statements on the going concem basis unless it is inappropriate to presume that the Church will continue in operation. The trustees are responsible for keeping proper accounting records that disclose, vnth reasonable accuracy at any time, the financial position of the Charity and which it ensure that the financial statements comply with the Charities Acts 2011. They 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 11 J,.
INDEPENDENT EXAMINER'S REPORT Independent Examiner's Report to the trustees of The House of Hope Calvary Christian Centre Charity no. 1082083. I report to the trustees on my examination of the accounts of the above chanty for the year ended 31 March 2024. Responsibilities and basis of report The charity's trustees are responsible for the preparation of the accounts in accordance with the requirements of the CharitiesAct 2011 ('the Act'>. I report in respect of my examination of the above charity's accounts carried out uncler section 145 of the 2011 Act and in carrying out my examination, I have followed the applicable Directions given by the Charity Commission under section 145151{b) of the Act. Independent examiner's statement (1) I have completed my examinaticn. I confirm that no material matters have come to my attents'on which in connection with the examination which gives me cause to believe that in, any material respect.. the accounting records were not kept in accordance with section 130 of the Charities Act", or the accounts do not accord with the accounting records. (21 I have no concems and have come across no other matters in connection with the examination to which attentson should be drawn In this report in order to enable a proper understanding of the accounts to be reached. Chaweevan Williams FCCA Chartered Certified Accountsnt VerdantAccountants Limited 20-22 Wenlock Road, London N17GU Date: 13 November 2024
HOUSE OF HOPE CALVARY CHRISTIAN CENTRE RECEIPTS AND PAYMENTS ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 Total Unrestricted Funds Year Ended 31 Mar 2024 Total Unrestricted Funds Year Ended 31 Mar 2023 RECEIPTS Donations Gift Aid (Tax Refund) Bank Interest 54,661 14,118 1,649 58,571 36,478 423 Total Receipts 70,428 95,472 PAYMENTS Church activities: Honorarium Trave51ing Expenses Printing, Postage & Telephone Rent & Rate Insurance Gifts Repairs & Maintenance Professional Fees Office Expenses Light, Heat and Water Tithe of Tithes 12.600 2,427 2.180 581 2.702 3.789 3,700 1,200 6,484 4,321 5.313 12,900 2,480 1,821 577 2,518 2,190 1,000 1,200 4,287 5.410 5,461 (45,297 1114,127) 139,843) {17,325) Purchase of Fixed Assets Total Payments 1159,4241 (57,168) Net Surplusl(Deficit) on Activities 188,996) 38,304 Cash funds last year blf 219,846 181,542 Cash fund this period clf 130,850 219,846 All funds in the year ended 31 March 2024 and 2023 are unrestricted.
HOUSE OF HOPE CALVARY CHRISTIAN CENTRE STATEMENT OF ASSETS AND LIABILITIES FOR THE YEAR ENDED 31 MARCH 2024 TOTAL As at 31 Mar 2024 TOTAL As at 31 Mar 2023 Notes Cash Funds Current Account 7,294 12,485 Saving Account 123,558 207,361 Total Cash Funds 130,852 219,846 FIXED ASSETS Building Office Equipment Musical Instruments, etc. 1,278,049 12,447 2,788 1,188,431 16,084 Totsl Fixed Assets 1.293,284 1,204.515 LIABILITIES Sundry
HOUSE OF HOPE CALVARY CHRISTIAN CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE ENDED 31 MARCH 2024 1. ACCOUNTING POLICIES Basis of accountin The Financial Statements have been prepared under the histoncal cost convention and in accordance with applicable accounting stsndards and the requirements of the Charities Act 2011 using the Receipts and Payments basis. Cash Flow The accounts do not include a Cash Flow Ststement because the organisation as a small reporting entity is exempt from the requirement to prepare such statement under the Financial Reporting Stsndard 1£ashFlow Standard. Tan ible Fixed Assets Depreciation is provided on all tangible fixed assets at rates calculated to write off the differen belNrfeen cost and it's expected residual value over its estimated usefijl life as follows.. Office equipment Fixtures, Fumiture & Fittings Musical Equipment Motor Vehicle Building -150/0 Straight Line -10 % Straight Line -15°/0 Straight Line -15 % Straight Line 50A Straight Line 2 FUNDS All funds in the period are Unrestncted and 2020. 3. COLLECTION & VOLUNTARY OFFERINGS Collection from tithes, and voluntary offenng accounted for the whole of Total Income. 4. TAX RECLAIM (GIFf AID) £14,118 Gift Aid Tax has been claimed in the year under review {2023 £36,478). 6. SURPLUSI(DEFICIT) OF INCOME OVER EXPENDITURE The accounting year ended 31 March 2024, expenditure exceeded income by £88,996 (2023 Surplus £38,304). No Depreciation charge included in year ended 31 March 2024 & 2023 as the Church accounts using Receipts & Payment Basis.
HOUSE OF HOPE CALVARY CHRISTIAN CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 (continued) 7. GOING CONCERN All the Charity's operations are classed as continuing. 8. FIXED ASSETS Furniture Office Musical Equipment Equipment Total Cost Building Fittings Balance At 01-04-2023 Acquisitions Disposalslwrite Offs 1,255.109 4.111 110,850 24,330 1.283,550 114,127 3,277 Balance At 31-03-2024 1,365,959 4,111 24,330 3.277 1,397,677 Accumulated Depreciation Balance At 01-04-2023 Disposalslwrite Offs Charge for the year 66,678 4.111 8,246 79,035 21.232 3.637 489 25,358 Balance At 31-03-2024 87,910 11.883 104,393 Net Book Value At 313-2024 1,278,049 12,447 2,788 1.293,284 Net Book Value At 31-03-2023 1,188,431 16,084 1,204,515