2025-03-31-accounts

REGISTERED CHARITY NUMBER: 1087928

Report of the Trustees and

Unaudited Financial Statements for the Year Ended 31 March 2025

for

CLIWOM SANCTUARY OF PRAISE

FKAY SOLUTIONS Suite F6, Wood Street Business Centre 195 Wood Street London E17 3NU

CLIWOM SANCTUARY OF PRAISE

Contents of the Financial Statements for the Year Ended 31 March 2025

	Page	Page	Page
Report of the Trustees		1
Independent Examiner's Report		2
Statement of Financial Activities		3
Balance Sheet		4
Notes to the Financial Statements	5	to	9
Detailed Statement of Financial Activities		10

CLIWOM SANCTUARY OF PRAISE

Report of the Trustees for the Year Ended 31 March 2025

The trustees present their report with the financial statements of the charity for the year ended 31 March 2025. The trustees have adopted the provisions of 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) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims.

The objectives of the Church as set out in Declaration of Trust are:-

(a) The advancement of Christian Faith in the United Kingdom or abroad

(b) The relief of persons who are in conditions of need, hardship, or distress or who are aged sick, in the United Kingdom or abroad.

Activities

The principal activities of the Church are Christian worship and involvement of various ministries and ministers of religion in propagating Christian tenets to members (and non-members) of the ministry at various meetings.

Achievements and Performance

The trustees are pleased to report that the Church continued to be successful spiritually by ministering to many people.

During the year the church was involved in various evangelical outreach programs all aimed at achieving its principal activities.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number

1087928

Principal address

709 Old Kent Road Old British Gas Depot London SE15 1JZ

Trustees

Ms Stella Balogun Mr John O Shadare Pastor William Oladeji Fayeun

Independent Examiner

FKAY SOLUTIONS Suite F6, Wood Street Business Centre 195 Wood Street London E17 3NU

Approved by order of the board of trustees on 19 January 2026 and signed on its behalf by:

Pastor William Oladeji Fayeun Trustee

Page 1

Independent Examiner's Report to the Trustees of CLIWOM SANCTUARY OF PRAISE

Independent examiner's report to the trustees of CLIWOM SANCTUARY OF PRAISE

I report to the charity trustees on my examination of the accounts of CLIWOM SANCTUARY OF PRAISE (the Trust) for the year ended 31 March 2025.

Responsibilities and basis of report

As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').

I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.

Independent examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or 2. the accounts do not accord with those records; or

2. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Afolabi Abimbola AFA

FKAY SOLUTIONS Suite F6, Wood Street Business Centre 195 Wood Street London E17 3NU

Date:19 January 2026

Page 2

CLIWOM SANCTUARY OF PRAISE

Statement of Financial Activities for the Year Ended 31 March 2025

----- Start of picture text -----
31.3.25 31.3.24
Unrestricted Total
fund funds
Notes £ £
INCOME AND ENDOWMENTS FROM
Donations and legacies 189,204 215,131
EXPENDITURE ON
Raising funds 2 106,132 85,452
Other 68,111 86,920
Total 174,243 172,372
NET INCOME 14,961 42,759
RECONCILIATION OF FUNDS
Total funds brought forward 282,721 239,962
TOTAL FUNDS CARRIED FORWARD 297,682 282,721
----- End of picture text -----

The notes form part of these financial statements

Page 3

CLIWOM SANCTUARY OF PRAISE

Balance Sheet 31 March 2025

----- Start of picture text -----
31.3.25 31.3.24
Unrestricted Total
fund funds
Notes £ £
FIXED ASSETS
Tangible assets 5 263,666 265,103
CURRENT ASSETS
Debtors 6 60,410 47,860
Cash in hand 8,259 12,429
68,669 60,289
CREDITORS
Amounts falling due within one year 7 (24,585) (22,842)
NET CURRENT ASSETS 44,084 37,447
TOTAL ASSETS LESS CURRENT
LIABILITIES 307,750 302,550
CREDITORS
Amounts falling due after more than one
year 8 (10,068) (19,829)
NET ASSETS 297,682 282,721
FUNDS 10
Unrestricted funds 297,682 282,721
TOTAL FUNDS 297,682 282,721
----- End of picture text -----

The financial statements were approved by the Board of Trustees and authorised for issue on 19 January 2026 and were signed on its behalf by:

Pastor William Oladeji Fayeun Trustee

The notes form part of these financial statements

Page 4

CLIWOM SANCTUARY OF PRAISE

Notes to the Financial Statements for the Year Ended 31 March 2025

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. 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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Taxation

The charity is exempt from tax on its charitable activities.

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 particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

continued...

Page 5

CLIWOM SANCTUARY OF PRAISE

Notes to the Financial Statements - continued for the Year Ended 31 March 2025

----- Start of picture text -----
|||| |---|---|---| |2.|RAISING FUNDS| |Premises costs| |31.3.25|31.3.24| |£|£| |Rent, rates and other premises costs|106,132|85,452|

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3. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024.

4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

----- Start of picture text -----
||| |---|---| |Unrestric| |fund| |£| |INCOME AND ENDOWMENTS FROM| |Donations and legacies|215,131| |EXPENDITURE ON| |Raising funds|85,452| |Other|86,920| |Total|172,372| |NET INCOME|42,759| |RECONCILIATION OF FUNDS| |Total funds brought forward|239,962| |TOTAL FUNDS CARRIED FORWARD|282,721|

----- End of picture text -----

continued...

Page 6

CLIWOM SANCTUARY OF PRAISE

Notes to the Financial Statements - continued for the Year Ended 31 March 2025

5. TANGIBLE FIXED ASSETS

Fixtures Long and Motor Computer leasehold fittings vehicles equipment £ £ £ £ COST At 1 April 2024 and 31 March 2025 355,095 42,443 30,455 167,230 DEPRECIATION At 1 April 2024 91,880 41,683 30,455 166,102 Charge for year 807 254 - 376 At 31 March 2025 92,687 41,937 30,455 166,478 NET BOOK VALUE At 31 March 2025 262,408 506 - 752 At 31 March 2024 263,215 760 - 1,128 6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.3.25 £ Other debtors 60,410 7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.3.25 £ Other creditors 24,585 8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 31.3.25 £ Bank loans (see note 9) 10,068 9. LOANS 31.3.25 £ An analysis of the maturity of loans is given below: Amounts falling due in more than five years: Repayable by instalments: Bank loans more 5 yr by instalments 10,068

Totals £ 595,223 330,120 1,437 331,557 263,666 265,103 31.3.24 £ 47,860 31.3.24 £ 22,842 31.3.24 £ 19,829 31.3.24 £ 19,829

continued...

Page 7

CLIWOM SANCTUARY OF PRAISE

Notes to the Financial Statements - continued for the Year Ended 31 March 2025

10. MOVEMENT IN FUNDS

At 1.4.24 £ Unrestricted funds General fund 282,721 TOTAL FUNDS 282,721 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 189,204 TOTAL FUNDS 189,204 Comparatives for movement in funds At 1.4.23 £ Unrestricted funds General fund 239,962 TOTAL FUNDS 239,962	Net movement At in funds 31.3.25 £ £ 14,961 297,682 14,961 297,682 Resources Movement expended in funds £ £ (174,243) 14,961 (174,243) 14,961 Net movement At in funds 31.3.24 £ £ 42,759 282,721 42,759 282,721

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds General fund	Incoming Resources resources expended £ £ 215,131 (172,372)	Movement in funds £ 42,759
TOTAL FUNDS	215,131 (172,372)	42,759

continued...

Page 8

CLIWOM SANCTUARY OF PRAISE

Notes to the Financial Statements - continued for the Year Ended 31 March 2025

10. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds General fund TOTAL FUNDS	Net movement At 1.4.23 in funds £ £ 239,962 57,720 239,962 57,720	At 31.3.25 £ 297,682 297,682

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Unrestricted funds General fund	Incoming Resources resources expended £ £ 404,335 (346,615)	Movement in funds £ 57,720
TOTAL FUNDS	404,335 (346,615)	57,720

11. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2025.

Page 9

CLIWOM SANCTUARY OF PRAISE

Detailed Statement of Financial Activities for the Year Ended 31 March 2025

----- Start of picture text -----
31.3.25 31.3.24
£ £
INCOME AND ENDOWMENTS
Donations and legacies
Donations 116,976 132,302
Premises & equipments 72,228 82,829
189,204 215,131
Total incoming resources 189,204 215,131
EXPENDITURE
Premises costs
Rent and rates 106,132 85,452
Support costs
Management
Rates and water 517 -
Insurance 1,484 1,433
Office costs 2,371 -
4,372 1,433
Finance
Bank charges 805 802
Operations
Repairs and renewals 736 -
Charitable activities
Evangelism and Welfare costs 61,198 83,685
Governance costs
Remuneration for non audit work 1,000 1,000
Total resources expended 174,243 172,372
Net income 14,961 42,759
----- End of picture text -----

This page does not form part of the statutory financial statements

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