2021-03-31-accounts - Christ Apostolic Church Channel Of Peace And Love Interantional

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CHRIST APOSTOLIC CHURCH CHANNEL OF PEACE AND LOVE INTERNATIONAL

BETHEL BUILDING CLAREMONT ROAD SWANLEY - HEXTABLE BR8 7RF

CHARITY NO 1093025

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2021

AJN & CO LTD

CHARTERED CERTIFIED ACCOUNTANTS & BUSINESS ADVISORS

2 SILVER STREAK WAY

ROCHESTER ME2 2GY

CHRIST APOSTOLIC CHURCH CHANNEL OF PEACE AND LOVE INTERNATIONAL

LEGAL AND ADMINISTRATIVE INFORMATION

TRUSTEES:

TRUSTEES: Evangelist Amos Ayobami Ogunginmi Rev. Dr. Theophilus Ogunginmi Pastor David Adeyemi Mr Michael Dare Ogunginmi SECRETARY: Evangelist Amos Ayobami Ogunginmi TREASURER: Mr Oludele Ayoade Bello CHARITY NO: 1093025 CHARITY ADDRESS: Bethel Building Claremont Road Swanley-Hextable BR8 7RF BANKERS: Barclays Bank Plc 93 Lewisham High Street London SE13 6EB

ACCOUNTANTS:

AJN & CO LTD Chartered Certified Accountants & Business Advisors 2 Silver Streak Way Rochester ME2 2GY

CONTENT:

Trustees' Reports 2. Balance Sheet
Statement of Financial Activities
Notes to the Account

CHRIST APOSTOLIC CHURCH CHANNEL OF PEACE AND LOVE INTERNATIONAL

TRUSTEES' REPORT

The Trustees have pleasure in submitting their report, and accounts for the period to 31st March 2021. The financial statements have been prepared in accordance with the accounting policies set out on page 5 and comply with the Statement of Recommended Practice (SORP 2015 ) and the applicable law.

Constitution, objective of the charity, principal activities and organisation of our work

The charity is constituted under a Constitution adopted on 12th April 2002. The charity is governed by a board of which trustees are represented. They meet regularly to review, plan activities and monitor financial position

The objectives of the charity as set out in the Declaration of Trust among others are:

(a) The advancement of the Christian faith.

(b) The relief of persons who are in poverty, sick or aged.

The ministry was involved in Christian outreach programmes designed to increase Christian awareness and spread the Gospel of our Lord Jesus Christ.

Public benefits, development activities and achievements in the year

When planning our activities in the year, the trustees considered the Charities Commission's guidance on public benefit, and in particular the specific guidance on charities for the advancement of religion.

We helped ordinary people in the community to live out their faith through worship and prayer; learning about the Gospel and developing their knowledge and trust in Jesus Christ by holding thrice weekly services. We are involved in Churches Together in Swanley and regularly organised gifts and presents for the local elderly homes and contributed to the food bank.

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

Due to the Covid-19 pandemic, most of the church activities for the community were put on hold and will be revisited when the government restrictions are over.

Review of the financial position

The charity's total income this year of £34,721 decreased by 30% compared to last year's income of £49,902. All of these are attributable to the unrestricted funds and no fund is allocated to restricted projects.

Reserve policy

It is the policy of the charity to maintain unrestricted funds, which are the reserves of the charity at about 3 months of unrestricted expenditure. This provides sufficient funds to cover emergency expenditure that may arise from time to time. The charity will seek to maintain this level throughout the year.

Risk management

The charity has assessed all the major risks to which the charity is exposed to, in particular those related to operations and finances of the charity, and are satisfied that systems are in place to mitigate exposure to major risks.

Board of Trustees

The members of the board of trustees during the year were:

Evangelist Amos Ayobami Ogunginmi Rev Dr Theophilus Ogunginmi Pastor David Adeyemi Mr Michael Dare Ogunginmi

Approval

This report was approved by the board of trustees and signed on its behalf by:

Rev Dr Theophilus Ogunginmi

Dated

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF

CHRIST APOSTOLIC CHURCH CHANNEL OF PEACE AND LOVE INTERNATIONAL CHARITY NO 1093025

I report on the Financial Statements of the charity for the year ended 31st March 2021, which are set out on pages 5 to 8 below.

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 144 (2) of the Charities Act 2011 (The 2011 Act) and that an independent examination is needed.

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 particular matters have come to my attention.

BASIS OF INDEPENDENT EXAMINER'S STATEMENT

My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the Trust 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 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.

INDEPENDENT EXAMINER'S 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 130 of the 2011 Act; and
to prepare accounts which accord with the accounting records and comply accounting requirements of the
2011 Act 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.

Isaac Addai FCCA, FFA/FIPA, MBA(Finance), BA(Hons) Dated AJN & CO LTD

2 Silver Streak Way Rochester ME2 2GY

CHRIST APOSTOLIC CHURCH CHANNEL OF PEACE AND LOVE INTERNATIONAL

BALANCE SHEET AS AT 31ST MARCH 2021

Notes FIXED ASSETS Tangible Fixed Assets 2 CURRENT ASSETS Cash at Bank and in hand LESS CREDITORS: Amounts falling due within one year 6.1 NET CURRENT ASSETS TOTAL ASSETS LESS LIABILITIES LESS CREDITORS: Amounts falling due after one year 6.2 NET ASSESTS MEMBERS ACCUMULATED FUNDS Unrestricted Funds 8	2021 £ 333,027 6,086 6,086 (54,495) (48,409) 284,618 (180,037) 104,582 104,582 104,582	2020 £ 341,723 4,834
		4,834
		(63,541)
		(58,707)
		283,016
		(189,255)
		93,763
		93,763
		93,763

Approved by the Board of Trustees and signed on its behalf by :-

Rev Dr Theophilus Ogunginmi

Dated

CHRIST APOSTOLIC CHURCH CHANNEL OF PEACE AND LOVE INTERNATIONAL STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2021

Notes Income and endowments from: Tithes & Offerings IR Gift Aid Total Expenditure on: Charitable Activities 4 Total Net Movement in funds Reconciliation of funds Total funds brought Forward Total funds carried forward		Unrestricted Total Fund Total Fund 2021 £ £ 30,666 30,666 4,056 4,056 34,721 34,721 23,903 23,903 23,903 23,903 10,818 10,818 93,763 93,763 104,582 104,582	Total Total 2020 £ 43,268 6,635	Total
			49,903
			38,495
			38,495
			11,408 82,357
			93,763

There were no recognized gains or losses for the period other than those included in the Statement of Financial Activities

The notes on Pages 5 to 8 form part of these accounts.

CHRIST APOSTOLIC CHURCH CHANNEL OF PEACE AND LOVE INTERNATIONAL

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2021

NOTE 1. BASIS OF ACCOUNTING

1.1 Basis of accounting

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 accounts have been prepared in accordance with:

the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) issued on 16 July 2014.

and with the Charities Act 2011.

1.2 Going concern

The charity will contiue as a going concern as there are no material uncertainties that cast significant doubt on the charity's ability to continue as a going concern.

1.3 Changes to accounting estimates

No changes to accounting estimates have occurred in the reporting period (FRS 102 SORP).

1.4 Material prior year error

No material prior year error have been identified in the reporting period (FRS 102 SORP).

NOTE 2. ACCOUNTING POLICIES

2.1 INCOME

Recognition of income

These are included in the Statement of Financial Activities (SoFA) when:

the charity becomes entitled to the resources; and it is more likely than not that the trustees will receive the resources.

Income from Tithes and Offering are included in charitable activities when they are receivable.

Offsetting

There has been no offsetting of assets and liabilities, or income and expenses, unless required or permitted by the FRS 102 SORP or FRS 102.

Grants and donations

Grants and donations are only included in the SoFA when the general income recognition creteria are met (5.10 to 6.12 FRS 102 SORP).

Tax reclaims on donations and gifts

Gift aid receivable is included in income when there is valid declaration from the donor. Any Gift Aid amount recovered on a donation is considered to be part of that gift and is treated as an addition to the same fund as the initial donation unless the donor or the terms of the appeal have specified otherwise.

Income from interest, royalties and dividend

This is included in the account when receipt is probable and the amount receivable can be measured reliably.

CHRIST APOSTOLIC CHURCH CHANNEL OF PEACE AND LOVE INTERNATIONAL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2021

2.2 EXPENDITURE AND LIABILITIES

Liability recognition

Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty.

Governance and support cost

Support costs have been allocated between governance cost and other support. Governance costs comprise all costs involving public accountability of the charity and its compliance with regulation and good practice.

Creditors

The charity has creditors which are measured at settlement amounts less any trade discounts.

2.3 ASSETS

Tangeble fixed assets for use by charity

These are capitalised if they can be used for more than one year, and cost at least £100.00 They are valued at cost.

The depreciation rates and methods used are disclosed in note 3.

NOTE 3. TANGEBLE FIXED ASSESTS

3.1 Cost

Costat 1st April 2020 Additions during the year At 31st March 2021 3.2 Depreciation and impairments Basis Rate Depreciationas at 1st April 2020 Charge for the year At 31st March 2021 Net Book Value at 31st March 2020 Net Book Value at 31st March 2021	Plant, Fixtures, machinery and fittings and Total Buildings motor vehicles equipment 2021 £ £ 354,478 5,175 22,068 381,721 - - - -	Plant, Fixtures, machinery and fittings and Total motor vehicles equipment 2021
	354,478 5,175 22,068 381,721
	Reducing Reducing Reducing Reducing Balance Balance Balance Balance 2% 25% 25% 25% 20,847 3,535 15,616 39,998 6,673 410 1,613 8,696
	27,520 3,945 17,229 48,694
	333,631 1,640 6,452 341,723 326,958 1,230 4,839 333,027

CHRIST APOSTOLIC CHURCH CHANNEL OF PEACE AND LOVE INTERNATIONAL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2021

NOTE 4. EXPENDITURE ON CHARITABLE ACTIVITIES Evangelism & Mission Welfare and Supports Honoraria Travel & Motor Expenses Printing, Postage and Stationery Telephone & Internet Cost Depreciation Building Repairs and Maintenace Refreshment Insurance Cleaning Water Rates Light & Heat Mortgage Interest Bank Charges Accountancy fee Chartable Donations Health & Safety Sundries	2021 £ - - - - - 1,394 8,696 500 - 1,304 749 379 935 8,172 924 600 - 250 - 23,903	2020 £ 577 560 800 479 374 1,283 9,506 8,168 1,200 1,379 885 215 629 9,196 1,195 600 1,400 - 49
		38,495

NOTE 5. TRANSACTIONS WITH TRUSTEES AND RELATED PARTIES

5.1 Trustee remunerations and benefits

No Trustee received remunerations and benefits

5.2 Trustees' expenses

No trustee expenses have been incurred.

CHRIST APOSTOLIC CHURCH CHANNEL OF PEACE AND LOVE INTERNATIONAL

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2021

NOTE 6. CREDITORS AND ACCRUALS

6.1 Analysis of creditors Trade Creditors Other Creditors Accruals 6.2 Analysis of creditors Trade Creditors NOTE 7. NET MOVEMENT IN FUNDS FOR THE YEAR The net movement in funds for the year is stated after charging: Accountancy fee Depreciation for the year	2021 2020 £ £ 17,390 17,390 36,505 45,551 600 600 54,495 63,541 2021 2020 £ £ 180,037 189,255 180,037 189,255 2021 2020 £ £ 600 600 8,696 9,506 Amounts falling due after one year Amounts falling due within one year	2020 £ 17,390 45,551 600 within one year
		63,541
		189,255
		2020 £ 600 9,506

NOTE 8. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Unrestricted Funds	Buildings, Equipment & Instruments £ 333,027	Net Current Assets/Liabilities £ (48,409)	Creditors >1 Year £ (180,037)	TOTAL
				2021 £ 104,582
	333,027	(48,409)	(180,037)	104,582