**The New Congregation of Cherubim** **(Registered Charity 1097499)** # **The New Congregation of Cherubim** **FINANCIAL STATEMENTS AND TRUSTEES' REPORT** **For The Year Ended 31 December 2022** 1 Document ID: e8419d94-9916-4394-8d2f-58fdee237f11 **The New Congregation of Cherubim** ## **Contents** |**Contents**|| |---|---| |General Information|1| |Incorporation|1| |Reference and Administrative Details|1| |Trustees Report for the Year Ended 31 December 2022|3| |Structure, Governance and Management|3| |Statement of Trustees' Responsibilities for the Year Ended 31 December 2022|5| |Independent Examiner's Report to the Trustees|6| |Statement of Receipts and Payments for the Year Ended 31 December 2022|7| |Statement of Assets and Liabilities for the Year Ended 31 December 2022|8| |Notes to the Financial Statements for the Year Ended 31 December 2022|9| |Detailed Statement of Receipts and Payments for the Year Ended 31 December 2022|11| General Information ## **INCORPORATION** The charitable body was incorporated on 13 May 2003. ## **REFERENCE AND ADMINISTRATIVE DETAILS** **Registered Charity Number: 1097499** (England and Wales) ## **Organisation type** STANDARD REGISTRATION ## **Registered office** 20 Lewes House Druid Street London SE1 2ET ## **Trustees** MRS. C. I. ODUNUGA MRS. C. M. ODUBORE MR. S. ODUBANJO MRS. O. A. ODUBANJO 2 Document ID: e8419d94-9916-4394-8d2f-58fdee237f11 **The New Congregation of Cherubim** ## **Independent Examiner** Elizabeth Roberts Accountants & Business Advisors 3rd Floor 207 Regent Street London United Kingdom W1B 3HH **Bankers** Lloyd Bank 3 Document ID: e8419d94-9916-4394-8d2f-58fdee237f11 **The New Congregation of Cherubim** ## **Trustees Report for the Year Ended 31 December 2022** The Trustees present their report with the financial statements of the charity for the year ended 31 December 2022. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities' issued in March 2005. ## **STRUCTURE, GOVERNANCE, AND MANAGEMENT** ## **Structure** The charitable body was established by a charitable trust deed on 13 May 2003 . The trustees who served during the year were: MRS. C I ODUNUGA MRS. C M ODUBORE MR. S ODUBANJO MRS. O A ODUBANJO ## **Risk management** The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. The charity's objects are: - The main objective of the charity is religious activities and working for the community. Classification What • GENERAL CHARITABLE PURPOSES • RELIGIOUS ACTIVITIES - Who • THE GENERAL PUBLIC/MANKIND How • PROVIDES ADVOCACY/ADVICE/INFORMATION ## **Financial Review** The Trustees report a profit of £20,362. ## **ON BEHALF OF THE TRUSTEES:** ## Samuel Odubanjo Trustee Name MR. S ODUBANJO Signature: ## 12/10/2023 Date: 4 Document ID: e8419d94-9916-4394-8d2f-58fdee237f11 **The New Congregation of Cherubim** ## **Statement of Trustees' Responsibilities for the Year Ended 31 December 2022** The Trustees are responsible for preparing the financial statements in accordance with the applicable law and UK Generally Accepted Accounting Practice (GAAP). Charity law and Church regulations require the Trustees to prepare financial statements for each financial year, which gives a true and fair view of the state of affairs of the charitable body and of its income and expenditure for the financial year. In doing so, the Trustees are required to: - a) Select suitable accounting policies and apply them consistently; - b) Observe methods and principles in the Charities SORP; - c) Make judgement and estimates that are reasonable and prudent; - d) Follow applicable accounting standards and statements of recommended practice, subject to any material departures disclosed and explained in the accounts; - e) Prepare the financial statements on the going concern basis unless it is inappropriate to assume that the charity will continue in operation. The Board of Trustees is responsible for maintaining proper accounting records that disclose with reasonable accuracy at any time the financial position of The New Congregation of Cherubim and to enable them to ensure that the financial statements comply with the Church Accounting Regulations and Charities Act 2011. They are also responsible for safeguarding the assets of the The New Congregation of Cherubim and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 5 Document ID: e8419d94-9916-4394-8d2f-58fdee237f11 **The New Congregation of Cherubim** ## **Independent Examiner's Report to the Trustees** ## **Independent Examiner's Report to the Trustees of The New Congregation of Cherubim** I report on the accounts for the year ended 31 December 2022 set out on pages seven to eleven. ## **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 required. It is my responsibility to: - examine the accounts under Section 145 of the 2011 Act - to follow the procedures laid down in the General Directions given by the Charity Commission (under Section 145(5)(b) of the 2011 Act); and - to state whether matters have come to my attention. ## **Basis of the independent examiner's report** 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 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 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 statements 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 to comply with the 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. Omotoyosi Akinfemiwa Elizabeth Roberts Accountants & Business Advisors 3rd Floor, 207 Regent Street, London, W1B 3HH > Date: 12/10/2023 6 Document ID: e8419d94-9916-4394-8d2f-58fdee237f11 **The New Congregation of Cherubim** ## **Statement of Receipts and Payments for the Year Ended 31 December 2022** |**RECEIPTS**
Offerings and donations
Gift Aid Claim
**PAYMENTS**
Events & Conferences
Management and administration costs
Governance costs
**Total Payments**
Net of receipts/(payments)
Transfer between funds
Cash funds this year end|**Unrestricted**
**Funds**
£
61,782
13,211
0
69,135
-
20,362
-
20,362|**Restricted**
**Funds**
£
-
-
-
-
-
-
-
**-**|**2022**
**Total**
**Funds**
£
61,782
13,211
**89,497**
0
69,135
-
69,135
20,362
-
20,362|**2021**
**Total Funds**
£
49,807
18,651| |---|---|---|---|---| |||||**68,458**
0
43,726
-| |||||**43,726**
24,732
-| |||||**24,732**| All activities derive from continuing operations 7 Document ID: e8419d94-9916-4394-8d2f-58fdee237f11 **The New Congregation of Cherubim** ## **Statement of Assets and Liabilities for the Year Ended 31 December 2022** |**ASSETS**
Cash & Cash Equivalents brought forward
Net new Cash and Cash Equivalents
Equipments, leasehold & furniture
Other monetary Assets
Total Assets
**LIABILITIES**
Liabilities
General Funds: Net Assets
**Total Funds & Liabilities**|**Unrestricted**
**Funds**
**£**
72,103
20,362
-
**92,465**
-
92,465
92,465|**Restricted**
**Funds**
**£**
-
-
-
-
**-**
-
-
**-**|**2022 Total**
**Funds**
**£**
72,103
20,362
-
-
**92,465**
-
92,465
92,465|**2021 Total**
**Funds**
**£**
47,371
-113
-
-
**47,371**
-| |---|---|---|---|---| |||||47,371| |||||**47,371**| The financial statements were approved by the Board of Trustees on 12/10/2022 and were signed on its behalf by: Samuel Odubanjo Trustee Name Mr S Odubanjo Signature 8 Document ID: e8419d94-9916-4394-8d2f-58fdee237f11 **The New Congregation of Cherubim** ## **Notes to the Financial Statements for the Year Ended 31 December 2022** ## **1. ACCOUNTING POLICIES** ## **1.1. Accounting convention** The financial statements have been prepared on the cash basis of accounting. Under this basis, revenues and related assets are recognized when received rather than when earned and expenses are recognised when paid rather than when the obligation is incurred. The cash basis of accounting differs from generally accepted accounting principles primarily because the Organisation has not recognized contributions and program service fees receivable, and accounts payable to vendors, and their related effects on the change in net assets. ## **1.2. Cash and Cash Equivalents** Cash and cash equivalents consist of cash in bank and money market funds. ## **1.3. Taxation** The charity is exempt from corporation tax on its charitable activities and has not been involved in trading or other profit generating activities. ## **1.4. Fund accounting** The donations to the charity were unrestricted. ## 1.5. **Fixed asset valuation** The accounts have been prepared without taking into account the valuation of current fixed assets. 2. **TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 31 December 2022. ## **3. MOVEMENT IN FUNDS** |**31 December**
**2022**
**£**
**Unrestricted Funds:**
General
92,465
**Restricted Funds**
General
0
**TOTAL FUNDS**
92,465
Net movement in funds, included in the above are as follows:
**Receipts**
**£**
**Unrestricted Funds:**
General
89,497
**Restricted Funds:**
General
-
**TOTAL FUNDS**
89,497
|**31 December**
**2022**
**£**
92,465|**Net movement in**
**funds**
**31 December**
**2021**
**£**
**£**
20,362
72,103| |---|---|---| ||0|-| ||92,465|20,362
72,103| |||**Payments**
**Movement**
**in funds**
**£**
**£**
69,135
20,362| ||-|-
-| ||89,497
|69,135
20,362| 9 Document ID: e8419d94-9916-4394-8d2f-58fdee237f11 ## **The New Congregation of Cherubim** ## 4. **Winding up or dissolution of the Charity** If upon winding up or dissolution of the charity there remain any assets, after the satisfaction of all obligations, the assets represented by the accumulated funds shall be transferred to some other charitable body or bodies having similar objectives to The New Congregation of Cherubim. Winding up (if so agreed and required) shall mainly be in accordance with the steps as set out in the The New Congregation of Cherubim Trust Deed (Section 10). 10 Document ID: e8419d94-9916-4394-8d2f-58fdee237f11 **The New Congregation of Cherubim** ## **Detailed Statement of Receipts and Payments for the Year Ended 31** ## **December 2022** |**RECEIPTS**
**£**
**Generated Income**
Offerings & Donations
61,782
Gift Aid Claim
13,211
**Total Receipts**

**PAYMENTS**
**Management and administrative costs in support of charitable activities**
Rent
35,000
Accounting fees
2,006
Miscellaneous
2,200
Repairs
5,500
Keyboardist
300
Insurance
1,190
Spiritual Materials
3,770
Other Expenses
19,170
**Total Payments**
**Net of Receipts/(payments)**|**£**

**89,497**

| |---|---| ||**69,135**| ||| ||**20,362**| 11 Document ID: e8419d94-9916-4394-8d2f-58fdee237f11 ## Completed Document Audit Report Completed with SignWell.com ## **Title: The New Congregation of Cherubim - Trustees Report and Accounts 2022** Document ID: e8419d94-9916-4394-8d2f-58fdee237f11 Time Zone: (GMT+00:00) Coordinated Universal Time ## **Files** The New Congregation of Cherubim - Trustees Report and Accounts 2022.docx Oct 12, 2023 11:55:24 UTC ## **Activity** |**Elizabeth Roberts**||| |---|---|---| |**Accountants**|created the document|Oct 12, 2023| |IP: 2.219.215.134||11:56:09 UTC| |**Elizabeth Roberts**||| |**Accountants**|signed the document|Oct 12, 2023| |||12:01:29 UTC| |**Elizabeth Roberts**||| |**Accountants**|sent the document to samuelodubanjo@ymail.com|| ||and team@eraccountants.co.uk|Oct 12, 2023| |||12:01:29 UTC| |**Samuel Odubanjo**|first viewed document|Oct 12, 2023| |IP: 92.40.214.242||12:10:48 UTC| |**Samuel Odubanjo**|signed the document|Oct 12, 2023| |IP: 88.107.38.154||13:02:34 UTC| Document ID: e8419d94-9916-4394-8d2f-58fdee237f11