## **CELESTIAL CHURCH OF CHRIST SALVATION OF JESUS PARISH FINANCIAL STATEMENT FOR THE YEAR ENDED 31ST JULY 2024**
**EMMANUEL STEPHENS & CO. CHARTERED ACCOUNTANTS, BUSINESS ADVISERS & CONSULTANTS 62 BEECHWOOD ROAD, LONDON E8 3DY**
**CELESTIAL CHURCH OF CHRIST SALVATION OF JESUS PARISH Report and Accounts for the year ended 31 JULY 2024**
**CHARITY REGISTRATION NUMBER IN ENGLAND AND WALES 1097030**
## **CELESTIAL CHURCH OF CHRIST SALVATION OF JESUS PARISH Reports and Accounts**
## **CONTENTS**
|Charity Information|1|
|---|---|
|Trustees annual report|2|
|Accountant's Report|3|
|Statement of Financial Activities|4|
|Balance Sheet|5|
|Notes to Accounts|6-8|
## **CELESTIAL CHURCH OF CHRIST SALVATION OF JESUS PARISH Charity Information**
## **Minister in Charge**
Rev. Amos Olabode Fatusin
## **Trustees**
Rev Amos Olabode Fatusin Ms C. A Olukoya Mrs Christiana Orbrifor
## **Charity Registration No:**
1097030
## **Principal Location**
16 Graham Court 7 Myers Lane London SE14 5RX
## **Bankers**
Natwest Bank Plc 65 Peckham High Street London Depot Code 190 SE15 5RZ
## **Accountants**
Emmanuel Stephens & Co 62 Beechwood Road London E8 3DY
Page 1
## **CELESTIAL CHURCH OF CHRIST SALVATION OF JESUS PARISH**
## **TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31 JULY 2024**
The trustees have the pleasure of submitting their report and the financial statements for the year ended 31 July 2024
## **Review of Financial Position**
Please refer to the annexed accounts for the details of the financial statements for the year ended 31 July 2023. The charity suffered from lack of suitable premises during the financial year, hence the high level of unrestricted reserves at the end of the financial year.
## **Reserves Policy**
The trustees would like to work towards a situation whereby the charity could maintain unrestricted funds at a level which equates to approximately three months of unrestricted expenditure.
## **Trustees' Responsibilities in Relation to the Financial Statements**
The Charities Act requires the Trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charity and of the surplus or deficit of the charity for that period. In preparing these financial statements, the trustees are required to:
- a) Select suitable accounting policies and apply them consistently;
- b) Make judgements and estimates that are reasonable and prudent;
- 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.
- d) Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The Trustees are responsible for keeping proper accounting records, which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act. They are also responsible for safeguarding the assets of the charity and hence for taking any reasonable steps for the prevention and detection of fraud and other irregularities.
## **Approval**
This report was approved by the Board of Trustees and signed on their behalf by:
Signature:
Name:
Date:
page 2
## **CELESTIAL CHURCH OF CHRIST SALVATION OF JESUS PARISH**
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CELESTIAL CHURCH OF CHRIST SALVATION OF JESUS PARISH**
I report on the projected accounts of the Trust for the period ended 31 July 2024, which are set out on pages 4 to 8.
## **RESPECTIVE RESPONSIBILITIES OF THE TRUSTEES AND EXAMINER**
As the Charity's Trustees, you are responsible for the preparation of the Account: you consider that the audit requirement of section 43(2) of the Charities Act 1993 ("the Act") does not apply. It is my responsibility to state, on the basis of procedures specified in the General Directions given by the Charity Commissioners under section 43(7) of the Act, whether particular matters have come to my attention.
## **BASIS OF INDEPENDENT EXAMINER'S REPORT**
My examination was carried out in accordance with the 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 you as 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 view given by the Accounts.
## **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 any material respect the requirements:
* to keep accounting records in accordance with section 41 of the Act, and
- to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the Act.
Have not been met: or
2. To which, in my opinion, attention be drawn to enable a proper understanding of the accounts to be reached.
## **Emmanuel Stephens & Co.**
Chartered Accountants, Business Advisers & Consultants 62 Beechwood Road London E8 3DY
Page 3
## **CELESTIAL CHURCH OF CHRIST SALVATION OF JESUS PARISH Statement of Financial Activities for the year ended 31 July 2024**
|Notes
**Incoming Resources**
_Incoming resources from generated funds:_
Voluntary income:donations
1a
Activities in furtherance of the charity
1b
objects
Other Income Gift Aid
**_Total Incoming Resources_**
**Resources Expended**
_Charitable activities:_
Direct Charitable Expenditure
2
_Governance costs:_
Management & Administration
3
**_Total Resources expended_**
**Net Incoming/(Outgoing) Resources for the year**
**_Net Movement in Funds_**
4
**Accumulated Fund at 1st August**|**2024**
**2023**
Unrestricted Restricted
Total
Total
£
£
£
£
26,498
-
26,498
28,827
-
-
-
-
-
6,228
6,228
5,652|
|---|---|
||**32,726**
**-**
**32,726**
**34,479**|
||6,174
-
6,174
1,931
24,992
-
24,992
30,576|
||**31,166**
**0**
**31,166**
**32,507**|
||1,560
0
1,560
1,972|
||1,560
0
1,560
1,973
5,166
-
5,166
4,370|
||**6,726**
**-**
**6,726**
**6,343**|
All disclosures relate to the continuing operations. There are no recognised gains or losses other than those disclosed above.
Page 4
## **CELESTIAL CHURCH OF CHRIST SALVATION OF JESUS PARISH Balance sheet as at 31 July 2024**
|**Balance sheet as at 31 July 2024**|||
|---|---|---|
|Notes
**FIXED ASSETS**
Tangible Fixed Assets
7
**CURRENT ASSETS**
Debtors
8
Cash in Hand/ Bank
**CURRENT LIABILITIES**
9
**NET CURRENT ASSETS**
**LONG TERM LIABILITIES**
Amount falling due more than a year
**NET ASSETS**
**TOTAL FUNDS**
6
Amount falling due within a year|**2024**
**2023**
£
£
0
0
0
0
0
0
24,236
22,676
24,236
22,676
17,510
17,510
6,726
5,166
**6,726**
**5,166**
0
0
0
**6,726**
**5,166**
**6,726**
**5,166**
-|**2024**
**2023**
£
0
0|
||||
|||**6,726**
**5,166**|
||||
|||**6,726**
**5,166**|
|||-|
Approved by the Trustees and Signed on their behalf:
Signature:
Name: Date:
Page 5
**CELESTIAL CHURCH OF CHRIST SALVATION OFJESUS PARISH** Notes to the Financial statements for the year ended 31 July 2024
## **ACCOUNTING POLICIES**
The accounts have been prepared under the historical cost convention and in accordance with the Statement of Recommended Practice - Accounting and Reporting by Charities (SORP 2005) issued in December 2005 and applicable accounting policies in the preparation of the financial statements are as follows.
## **1. INCOMING RESOURCES**
These are recognised in full in the Statement of Financial Activities in the period in which they are received. Included are income from tithes, offerings and interest received during the year from investments and accounted for as unrestricted-funds.
|**1a. Voluntary Income: Donations**
Tithes & Offerings
Building Funds
Other Charitable Income Gift Aid|**2024**
**2023**
£
£
26,498
24,846
-
-
6,228
6,201|
|---|---|
||32,726
31,047|
## **2. DIRECT CHARITABLE EXPENDITURE**
This comprises all expenditure directly related to the objects of the of the charity. It also includes the expenditure in support of that activity where material.
|Donations
Spiritual Materials
Pastoral Returns
Storage
Church expenditure
Pastor's Remuneration
Honorarium|**2024**
**2023**
£
£
-
-
-
-
1,828
2,243
4,346
1,600
-
-
-
-|
|---|---|
||**6,174**
**3,843**|
Page 6
## **3. MANAGEMENT AND ADMINISTRATION**
|Volunteer expenses
Rent & Rates
Refusal Disposal
Telephone & fax & internet
Light & Heat
Printing, postage & stationery
Security
Repairs & renewals
Legal & professional fees
Accountancy fees
Bank charges & interest
General expenses
Depreciation
Harvest|**2024**
**2023**
£
£
-
23,350
26,000
-
-
-
-
-
-
-
-
-
-
-
-
-
1,250
2,180
192
201
-
-
-
-
200|
|---|---|
||**24,992**
**28,381**|
## **4. NET MOVEMENT IN FUNDS FOR THE YEAR**
|The net movement in funds for the year is stated
after charging
Depreciation of tangible fixed assets|**2024**
**2023**
£
£
-
-|
|---|---|
## **5.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 basis:
Plant & Machinery
10% straight line
|**6. FUNDS**
At 1 August 2023
Surplus/(Deficit) for the year
At 31 July 2023|**Unrestricted**
**Restricted Total**
**Funds**
**Funds**
**Funds**
**£**
**£**
**£**
5,166
5,166
(1,177)
0
(1,177)|
|---|---|
||6,343
-
6,343|
## **6.1 UNRESTRICTED FUNDS**
These are grants and donations received or receivable for the objects of the charity without restrictions as to purpose but are available as general funds.
## **6.2 RESTRICTED FUNDS**
Restricted funds are used for the purpose as specified by the donor. Expenditure that meets these criteria is identified to the fund.
Page 7
## **7. FIXED ASSETS**
|**Plant &**
**Machinery etc**
**Totals**
£
£
**Cost**
At 1 August 2023
24,980
24,980
Additions
-
-
At 31 July 2023
24,980
24,980
**Depreciation**
At 1 August 2023
24,980
24,980
Charge for the year
-
-
At 31 July 2024
24,980
24,980
**Net Book Value**
At 31 July 2024
-
-
At 31 July 2023
-
-
**8.DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
**2024**
**2023**
**£**
**£**
Security Deposit Recoverable
-
-
-
-
-
**9.CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
**2024**
**2023**
**£**
**£**
Accountancy's Fee
1,000
1,000
Sundry Creditors
16,510
16,510
17,510
17,510|**Plant &**
**Machinery etc**
**Totals**
£
£
24,980
24,980
-
-|**Plant &**
**Machinery etc**
**Totals**
£
£
24,980
24,980
-
-|
|---|---|---|
||24,980|24,980|
||24,980
-|24,980
-|
||24,980|24,980|
||||
||-|-|
||-|-|
|||**2024**
**2023**
**£**
**£**
-
-
-|
|||-
-|
|||**2024**
**2023**
**£**
**£**
1,000
1,000
16,510
16,510|
|||17,510
17,510|
Page 8