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2023-01-31-accounts

– ALL NATIONS EVANGELICAL CHURCH GARDEN OF SUCCESS

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31[ST] JANUARY 2023

CHARITY NUMBER: 1102405

ALL NATIONS EVANGELICAL CHURCH – GARDEN OF SUCCESS UNIT 138 - 140 CAMBERWELL ROAD LONDON SE5 0EE

INDEX Page Legal & Administrative Details 1 Trustee’s Report 2-3 Independent Examiner’s Report 4 Receipts and Payments Account 5 Statement of Assets and Liabilities 6 Notes on the financial Statements 7

ALL NATIONS EVANGELICAL CHURCH – GARDEN OF SUCCESS

LEGAL & ADMINISTRATIVE DETAILS YEAR ENDED 31[ST] JANUARY 2023

ADDRESS FOR CORRESPONDENCE

138 – 140 CAMBERWELL ROAD LONDON SE5 0EE

REGISTERED CHARITY NUMBER

1102405

GOVERNING DOCUMENT

DECLARATION OF TRUST 31[ST] JANUARY 2004.

TRUSTEES/ DIRECTORS

MS BARBARA TINUBU AIQPS ACII MSC MRS CYNTHIA OLAITAN -OLAOFE MR LAWRENCE JEGEDE MR VICTOR ADEAGBO

PRINCIPAL BANKERS

HSBC BANK 5 WIMBLEDON HILL ROAD WIMBLEDON SW19 7NF

INDEPENDENT EXAMINER

FRESH FIRE ORGANISATION GENERATOR BUSINESS CENTRE 95 MILES ROAD MITCHAM CR4 3FH

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ALL NATIONS EVANGELICAL CHURCH – GARDEN OF SUCCESS TRUSTEES’ REPORT YEAR ENDED 31[ST] January 2023

The trustees are pleased to present their report for the year ended 31[ST] January 2023 for the charity, All Nations Evangelical Church – Garden of Success with Charity Number 1102405.

The Trustees of the charity are: Lawrence Jegede Ms Barbara Tinubu AIQPS ACII MSC Mrs Cynthia Olaitan- Olaofe Victor Adeagbo

The principal address of the charity is: Unit 138 - 140

Camberwell road London SE5 0EE

STRUCTURE, GOVERNANCE AND MANAGEMENT

The Charity governing document is a declaration of trust deed that was adopted on 31[st] January 2004 .The Charity is governed by a board on which the trustees are represented. It meets regularly to review, plan activities and monitor the financial position.

OBJECTIVES AND ACTIVITIES

The Objects of the organisation are to advance the Christian Religion [in accordance with the Statement of faith] throughout the world as the trustees may see fit from time to time. The trustees confirm that they have had due regard to the guidance issued by the Charity Commission on public benefit before deciding what activities the charity should undertake.

ACHIEVMENTS AND PERFORMANCE

The Organisation continues to hold successful services through the year in which individuals were equipped and educated on the principles and doctrines of the Christian faith. The church continues to hold various seminars and conferences for both leaders and members of the community which proved to be a good avenue of seeing people equipped and encouraged in their spiritual life. The church continues to hold successful church services in its 3 branches which are in London, Essex and Manchester. This has caused an increase in their outreach and the number of attendants at their services.

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FINANCIAL REVIEW

The income of the charity is above £61,000. The costs have been managed well over this period. The charity is in a good position to develop itself in the community. The church continues to meet in 3 locations. They have a lease on a building in Camberwell and they hire halls in Essex and Manchester. The costs have been well managed even though there are more expenses this year the church continues to maintain a healthy surplus. As well as the regular church expenses. The church also contributed to the head-quarters branch in Nigeria in assisting with their mission outreaches in the villages.

FUTURE DEVELOPMENTS

The church intends to continue to host its regular yearly conferences in UK. The church is engaging in more outreaches in various areas of the UK and also has a plan of developing its branches in the United Kingdom. The intended re-appointment of our present independent examiner at the upcoming trustee meeting is expected to support the financial operations by making it more effective.

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 any emergency expenditures that may arise from time to time. The charity will seek to maintain this level throughout the year.

RISK MANAGEMENT

The charity have 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.

TRUSTEE RESPONSIBILITIES

Under the Charities Act 2011, the trustees are required to prepare a statement of accounts for each accounting year which gives a true and fair view of the state of the church. They are required to:

  1. Select suitable accounting policies and apply them consistently.

  2. Make judgements and estimates that are reasonable and prudent.

  3. State whether the applicable accounting standards have been followed.

  4. Prepare financial statements on an ongoing basis.

They are responsible for keeping proper records which disclose with reasonable accuracy the finances of the church at any time and to ensure that such accounts comply with the Charities Act 2011.They also have a responsibility to safeguard the assets of the church and to take reasonable steps to detect fraud or other irregularities.

Approved by the Trustees on 1[st] November 2023 and signed on their behalf by:

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Independent Examiner’s Report To the Trustees ALL NATIONS EVANGELICAL CHURCH – GARDEN OF SUCCESS

I report on the accounts of the church for the year ended 31[st ] January 2023 set out on the following pages which have been prepared on the basis of the accounting policies shown in the corresponding pages.

Respective responsibilities of trustees and examiner

The trustees of the church are responsible for the preparation of accounts: they consider that the audit requirement under section 144(2) of the Charities Act 2011 (the 2011 Act),does not apply. It is my responsibility to :

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 church 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 the course of my examination, no matter has come to my attention;

Chuks Ajuka BSc(Man), FICB PMDip FRESH FIRE ORGANISATION Unit 5 Generator Business Centre 95 Miles road Mitcham Surrey CR4 3FH

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ALL NATIONS EVANGELICAL CHURCH

ACCOUNTS FOR THE YEAR ENDED 31st January 2023

1 Receipts & Payments Account (General Purpose Fund)

Income Receipts
Income for Garden of Success
Income for Dominion Ground
Gift Aid
Interest
Other Income
Total Receipts
Direct Charitable Expenditure
Light & Heat
Events
Professional fees
Subscriptions
Rent of Building
Accounting services
Visiting speakers expenses
Hire of Halls
Volunteer expenses
Advertising
Salary
Mission
Church programs
Website & Internet charges
Stationery & Supplies
Insurance
Rates
Music services
Bank charges
Welfare
Transport
Travel & Substitence
Hospitality
Ministers expenses
Other Expenditure
Equipments
Training
Repairs
Total Payments
Net Receipts/(Payments) for the year
Cash Funds brought forward
Cash Funds at the end of the year		 2023/£
45175
7031
4538
5
4587
_
61336
_
3481
0
1138
634
28040
400
1950
0
0
0
12300
1147
600
538
614
367
1965
450
244
1150
590
1839
202
1800
59449
3805
0
0
63254
-1918
105307
103389		 2022/£
46811
11148
1422
1
10000
___
69382
___
2744
5910
0
0
28400
400
2900
2440
1070
1194
6200
250
1100
564
252
346
2476
220
77
120
153
721
250
700
58487
1894
180
3098
63659
5723
99584
105307

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ALL NATIONS EVANGELICAL CHURCH

2 Statements of Assets and Liabilities at 31st January 2022

Cash Funds
HSBC 1
HSBC 2
HSBC 3
NatWest
Debtor
Total Cash Funds
Other Monetary Assets
Tax recoverable
Loan to Individuals
Current Assets
Assets Retained for the
Charity's Own use
Fixtures & Fittings
Musical Instruments
Equipments
Liabilities
Accounting fee
Net Assets		 Unrestricted Funds
2023
£
17283
20709
1195
7031
50000
96218
Unrestricted Funds
£/2023
4271
2900
7171
103389
365
2017
3582
_
5599
_
400
108588		 2022
£
15955
16846
852
12087
50000
95740
£/2022
6667
2900
9567
105307
406
816
3278
_
4094
_
400
109001

Approved by the Trustees and signed on their behalf:

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ALL NATIONS EVANGELICAL CHURCH

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31st January 2023

ACCOUNTING POLICIES

Basis of Accounting

These accounts have been prepared on the receipts and payments basis under Charities Act 2011

Funds

Unrestricted funds are those which can be used at the Trustees' discretion. Restricted Funds are those whose purposes have been restricted by the donor.

Staff

The church had 2 employees during the accounting year. No employee received emoluments in excess of £7,000.

Public Benefit

The charity acknowledges its requirement to demonstrate clearly that it must have charitable purposes or aims that are for public benefit.Details of how this is achieved are provided in the Trustees report. The trustees confirm that they have paid due regard to the Charity Commission guidance on public benefit before deciding what activities the charity should undertake.

Trustee Remuneration

The organisation paid the trustee Pastor Cynthia Olaitan-Olaofe £4200 for services rendered to the organisation as the pastor.

Depreciation

Depreciation is calculated at straight line method using 10% for Fixtures & Fittings and 20% for Equipment and Instruments.

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