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 2025
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: 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: 1. Trustees' Reports 2. Balance Sheet 3. Statement of Financial Activities 4. Notes to the Account
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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 2025. 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.
Review of the financial position
The charity's total income this year of £38,507 decreased by 6.2% compared to last year's income of £41,035. 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
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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 2025, 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 :
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examine the accounts under section 145 of the 2011 Act,
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follow the procedures laid down in the general Directions given by the Charity Commission
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[ under section 145(5)(b) ] of the 2011 Act, and
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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 :-
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1) which gives me reasonable cause to believe that in, any material respect, the requirements:
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to keep accounting records in accordance with section 130 of the 2011 Act; and
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to prepare accounts which accord with the accounting records and comply accounting requirements of the
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2011 Act have not been met; or
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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) AJN & CO LTD
Dated
2 Silver Streak Way Rochester ME2 2GY
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CHRIST APOSTOLIC CHURCH CHANNEL OF PEACE AND LOVE INTERNATIONAL
BALANCE SHEET AS AT 31ST MARCH 2025
| 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 |
2025 £ 303,496 4,772 4,772 (39,587) (34,815) 268,681 (143,030) 125,651 125,651 125,651 |
2024 £ 310,291 17,094 |
|---|---|---|
| 17,094 | ||
| (39,587) | ||
| (22,492) | ||
| 287,798 | ||
| (151,053) | ||
| 136,746 | ||
| 136,746 | ||
| 136,746 |
Approved by the Board of Trustees and signed on its behalf by :-
Rev Dr Theophilus Ogunginmi Dated
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CHRIST APOSTOLIC CHURCH CHANNEL OF PEACE AND LOVE INTERNATIONAL
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2025
| 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 2025 £ £ 33,641 33,641 4,867 4,867 38,507 38,507 49,603 49,603 49,603 49,603 (11,095) (11,095) 136,746 136,746 125,651 125,651 |
Total Total 2024 £ 36,450 4,586 |
Total | |
|---|---|---|---|---|
| 41,035 | ||||
| 45,773 | ||||
| 45,773 | ||||
| (4,737) 141,483 |
||||
| 136,746 |
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.
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CHRIST APOSTOLIC CHURCH CHANNEL OF PEACE AND LOVE INTERNATIONAL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025
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.
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CHRIST APOSTOLIC CHURCH CHANNEL OF PEACE AND LOVE INTERNATIONAL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025
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 2024 Additions during the year At 31st March 2025 3.2 Depreciation and impairments Basis Rate Depreciationas at 1st April 2024 Charge for the year At 31st March 2025 Net Book Value at 31st March 2024 Net Book Value at 31st March 2025 |
Plant, Fixtures, machinery and fittings and Total Buildings motor vehicles equipment 2025 £ £ 354,478 5,175 22,068 381,721 - - - - |
Plant, Fixtures, machinery and fittings and Total motor vehicles equipment 2025 |
|---|---|---|
| 354,478 5,175 22,068 381,721 |
||
| Reducing Reducing Reducing Reducing Balance Balance Balance Balance 2% 25% 25% 25% 46,747 4,657 20,027 71,431 6,155 130 510 6,794 |
||
| 52,902 4,787 20,537 78,225 |
||
| 307,731 518 2,041 310,290 301,576 389 1,531 303,496 |
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CHRIST APOSTOLIC CHURCH CHANNEL OF PEACE AND LOVE INTERNATIONAL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025
| NOTE 4. EXPENDITURE ON CHARITABLE ACTIVITIES Travel & Motor Expenses Evangelism & Missions Printing, Postage and Stationery Telephone & Internet Cost Depreciation Building Repairs and Maintenace Insurance Cleaning Water Rates Light & Heat Mortgage Interest Bank Charges Accountancy fee Chartable Donations Ministerial Allowance Welfare & Support Honoraria Sundries |
2025 £ 595 1,837 100 1,830 6,794 4,032 1,828 755 251 3,383 14,386 768 600 300 10,575 1,300 200 68 49,603 |
2024 £ 220 580 249 912 7,133 3,400 1,339 616 372 2,716 15,289 942 600 300 9,600 955 500 49 |
|---|---|---|
| 45,772 |
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.
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CHRIST APOSTOLIC CHURCH CHANNEL OF PEACE AND LOVE INTERNATIONAL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025
| 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 NOTE 8. ANALYSIS OF NET ASSETS BETWEEN FUNDS |
2025 2024 £ £ 22,409 22,409 16,578 16,578 600 600 39,587 39,587 2025 2024 £ £ 143,030 151,053 143,030 151,053 2025 2024 £ £ 600 600 6,794 7,133 Amounts falling due after one year Amounts falling due within one year |
2024 £ 22,409 16,578 600 within one year |
|---|---|---|
| 39,587 | ||
| 151,053 | ||
| 2024 £ 600 7,133 |
| Unrestricted Funds | Buildings, Equipment & Instruments £ 303,496 |
Net Current Assets/Liabilities £ (34,815) |
Creditors >1 Year £ (143,030) |
TOTAL |
|---|---|---|---|---|
| 2025 £ 125,651 |
||||
| 303,496 | (34,815) | (143,030) | 125,651 |
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