Charity No: 1083090
HIGHER DIMENSION GOSPEL CENTRE REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
HIGHER DIMENSION GOSPEL CENTRE
Contents
| Page | |
|---|---|
| Legal and administrative information | 1 |
| Report of the trustees | 2-3 |
| Independent Examiner’s Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 |
| Notes forming part of the financial statements | 7-8 |
HIGHER DIMENSION GOSPEL CENTRE
Legal and administrative information
Trustees Pastor Fidelis Akinbogun Pastor (Mrs) Felicia Akinbogun Elder Kayode Johnson Charity offices 220 Blackhorse Lane London E17 6AD Independent Examiner Lance Kadiri 333 Edgware road London NW9 6TD Bankers HSBC 28 Borough High Road London SE1 1YB
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HIGHER DIMENSION GOSPEL CENTRE
Trustees’ Report for the year ended 31 March 2024
The trustees present their report along with the financial statements of the charity for the year ended 31 March 2024. The financial statements have been prepared in accordance with the accounting policies set out on page 7 and comply with the charity’s memorandum and articles of association.
Trustees
The following were the trustees for the period under consideration.
Pastor Fidelis Akinbogun Pastor (Mrs) Felicia Akinbogun Elder Kayode Johnson
The principal custodian of the charity is the Board of Trustees.
Appointment of trustees is governed by The Memorandum and Articles of Association. The Board of Trustees is authorized to appoint new trustees to fill vacancies arising through resignation or death of an existing trustee.
Investment Powers
The Memorandum and Articles of Association authorizes the trustees to make and hold investments using the general funds of the charity, but no such investments are presently held.
Constitution, objects and policies
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(i) The Charity’s governing document is the Memorandum and Articles of Association, which is kept at the charity’s principal address.
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(ii) The objects of the charity continue to be:
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(iii) The advancement of Christian religion and education
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(iv) Counselling in relation to marriage, youth, career, parenting, bereavement
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(v) Support for families
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(vi) Training leaders
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(vii) Enhancing social and community integration
Development, activities and achievements
The trustees consider that the performance of the charity this year has been most satisfactory. During the year the charity gained some new members and it is expected that the congregation will continue to grow in the future.
The charity would not be able to operate without the continued support of a large number of willing support staff who give their services voluntarily, to assist the church on a freelance basis.
Financial review
A substantial increase in donations by individuals was achieved this year, mainly due to the publicity we received in the media, which featured the church’s activities. In addition, our fundraising activities continue to be successful, thanks mainly to the kind donations of members. Office overheads were generally unchanged this year. Funds available are sufficient to permit the charity to continue in operation in the medium term.
Risk Management
The trustees actively review the major risk which the charity faces on a regular basis and believe that maintaining reserves at current levels, combined with an annual review of the controls over key financial systems, will provide sufficient resources in the event of adverse conditions. The trustees have also examined other operational and business risks faced by the Charity and confirm that they have established systems to mitigate the significant risks.
Future Developments
The trustees are confident that the charity will continue to grow in strength in the foreseeable future.
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HIGHER DIMENSION GOSPEL CENTRE
Report of the trustees for the year ended 31 March 2024
Reserves policy
It is the policy of the charity to maintain unrestricted funds at a level which equate to approximately 12 months unrestricted expenditure. This provides sufficient funds to cover management and administration and support costs. Unrestricted funds are maintained at least this level throughout the year.
Statement of trustees’ responsibilities
Law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true fair view of the charity’s financial activities during the year and of its financial position at the end of the year. In preparing those financial statements, the trustees are required to:
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(a) select suitable accounting policies and apply them consistently;
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(b) make judgments and estimates that are reasonable and prudent;
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(c) state whether applicable accounting standards and statements of recommended practice have been followed, subject to any departures disclosed and explained in the financial statements;
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(d) Prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 1993. 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.
Approval
This report was approved by the trustees on January 2025 and signed on their behalf.
F Akinbogun Trustee
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HIGHER DIMENSION GOSPEL CENTRE
Report of the Independent Examiner to the Trustees of HIGHER DIMENSION GOSPEL CENTRE On accounts for the year ended 31 March 2024
Respective responsibilities of trustees and examiner
The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year (under section 43(2) of the Charities Act 1983 (the Act) and that an independent examination is needed.
It is my responsibility to:
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(viii) Examine the accounts (under section 43(3) (a) of the Act);
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(ix) To follow the procedures laid down in the General Directions given by the Charity Commissioners (under section 43(7) (b) of the Act; and
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(x) To state whether particular matters have come to my attention.
Basis of Independent examiner’s statement
My examination was carried out in accordance with General Directions given by the Charity Commissioners. 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 the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently, I do not express an audit opinion on the accounts.
Independent examiner’s statement
In connection with my examination, no matter has come to my attention that:
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(i) which gives me reasonable cause to believe that in my material respect the requirements:
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to keep accounting records in accordance with section 41 of the 1993 Act and
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to prepare accounts which accord with the accounting records and company with the accounting requirements of the Act
have not been met; or
- (ii) To which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Lance Kadiri 333 Edgware road London NW9 6TD
January 2025
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HIGHER DIMENSION GOSPEL CENTRE
Statements of Financial Activities For the year ended 31 March 2024
| Incoming Resources Tithes and offering Gift aid Bank interest Total Incoming resources Resources Expanded Rent and rates Wages and salary Ministers allowance Light and heat Repairs and maintenance Telephone and fax Travel and subsistence Printing and stationery Accountancy Legal and professional Sundry expenses Depreciation Total resources expanded Surplus for the year |
Restricted Unrestricted Total Total Fund Funds Funds Funds 2024 2024 2024 2023 £ £ £ £ - 28,337 28,337 30,238 - - - - - - - - |
|---|---|
| - 28,337 28,337 30,238 |
|
| - 10,762 10,762 4,614 - - - 16,500 - - - - - - - - - - - - - 1,692 1,692 776 - 228 228 1,102 - - - - - - - - - - - - - 648 648 577 - - - 6,832 |
|
| - 13,330 13,330 30,401 |
|
| - 15,007 15,007 (-163) |
There were no recognized gains or losses for 2023 and 2024 other than those included in the Statements of Financial Activities.
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HIGHER DIMENSION GOSPEL CENTRE
Balance Sheet As at 31 March 2024
| Note Fixed Assets Tangible Assets 2 Current assets Debtors 3 Cash at bank and in hand Creditors: amounts falling due within one year 4 Net current assets Total assets less current liabilities Funds Unrestricted funds 5 Surplus Accumulated unrestricted funds |
2024 £ £ 36,508 34,579 116,407 155,252 (663) 154,589 191,097 186,831 14,497 201,328 |
2024 £ £ 36,508 34,579 116,407 155,252 (663) 154,589 191,097 186,831 14,497 201,328 |
2023 £ £ 36,508 34,579 116,407 150,986 (663) 150,323 186,831 186,994 (163) 186,831 |
2023 £ £ 36,508 34,579 116,407 150,986 (663) 150,323 186,831 186,994 (163) 186,831 |
|---|---|---|---|---|
| 191,097 | 186,831 | |||
| 186,831 14,497 |
186,994 (163) |
|||
| 201,328 | 186,831 |
Approved by the trustees on January 2025 and signed on their behalf.
F A Akinbogun Trustee
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HIGHER DIMENSION GOSPEL CENTRE
Notes to the accounts for the year ended 31 March 2024
1. Accounting policies
1.1 Basis of preparation of accounts
These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 (as updated through Update Bulletin 1 published on 2 February 2016), the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Practice as it applies from 1 January 2015.
The particular accounting policies adopted are set out below.
1.2 Tangible fixed assets for use by the charity and depreciation
Tangible fixed assets for use by the charity are stated at cost less depreciation.
Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Equipment and furniture 20% reducing balance Building works 5% straight line
1.3 Income
Voluntary income and donations are accounted for as received by the charity. The income from fundraising ventures is shown gross, with the associated costs included in fundraising costs. No permanent endowments have been received in the period.
1.4 Value added tax
Value added tax is not recoverable by the charity, and as such is included in the relevant costs in the Statement of Financial Activities.
1.5 Fundraising costs
Fundraising expenditure comprises costs incurred in inducing people and organizations to contribute financially to the charity’s work. This includes the cost of advertising for donations and the staging of special fundraising events.
1.6 Management and administration expenditure
Expenditure on management and administration of the charity includes all expenditure not directly related to the charitable activity of fundraising ventures. This includes costs of renting and running office premises, staff salaries for administrative staff and audit fees.
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HIGHER DIMENSION GOSPEL CENTRE
Notes to the accounts for the year ended 31 March 2024
| 2. Tangible fixed assets for use by the Charity Cost 1 April 2023 Additions 31 March 2024 Depreciation 1 April 2023 Charge for the year 31 March 2024 Net book value 31 March 2023 31 March 2024 3. Debtors Other debtors 4. 5. Creditors: Amounts falling due with one year Other creditors Unrestricted funds 1 April 2023 Surplus At 31 March 2024 |
Furniture& fittings Equipment £ £ 10,654 27,958 - - |
Building Works Total £ £ 129,410 168,022 - - |
|---|---|---|
| 10,654 27,958 |
129,410 168,022 |
|
| 10,278 26,529 75 286 |
87,875 124,682 6,471 6,832 |
|
| 10,353 26,815 |
94,346 131,514 |
|
| 301 1,143 |
35,064 36,508 |
|
| 376 1,429 |
41,535 43,340 |
|
| 2024 2023 £ £ 34,579 34,579 |
||
| 34,579 34,579 |
||
| 2024 2023 £ £ 663 633 |
||
| 663 633 |
||
| 2024 2023 £ £ 186,831 186,994 14,497 (163) |
||
| 201,328 186,831 |
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