REGISTERED COMPANY NUMBER: 04779280 (England and Wales) REGISTERED CHARITY NUMBER: 1102749
Report of the Trustees and
Financial Statements for the Year Ended 30 May 2024
for
EL SHADDAI DWXI-PPFI
GKP Partnership Ground Floor Chiswick Gate
598-608, Chiswick High Road London W4 5RT
EL SHADDAI DWXI-PPFI
Contents of the Financial Statements
for the Year Ended 30 May 2024
| Page | |
|---|---|
| Report of the Trustees | 1 |
| Independent Examiner's Report | 2 |
| Statement of Financial Activities | 3 |
| Statement of Financial Position | 4 to 5 |
| Notes to the Financial Statements | 6 to 9 |
| Detailed Statement of Financial Activities | 10 to 11 |
EL SHADDAI DWXI-PPFI
Report of the Trustees
for the Year Ended 30 May 2024
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30 May 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
Structure, governance and management Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Reference and administrative details Registered Company number
04779280 (England and Wales)
Registered Charity number
1102749
Registered office
72 Bird in Bush Peckham London SE15 1BB
Trustees
Mrs Jessie Obligado Mrs Analita Bas Ms Salome M Hartberg Mr Rey E M Vargas
Independent Examiner
Atul Sharma GKP Partnership Ground Floor Chiswick Gate 598-608, Chiswick High Road London W4 5RT
Bankers
Lloyds TSB Bank PLC 25 Gresham Street London EC2V 7H
Approved by order of the board of trustees on 21 January 2025 and signed on its behalf by:
Mrs Jessie Obligado - Trustee
Page 1
Independent Examiner's Report to the Trustees of EL SHADDAI DWXI-PPFI
Independent examiner's report to the trustees of EL SHADDAI DWXI-PPFI ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 May 2024.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Atul Sharma
GKP Partnership Ground Floor Chiswick Gate 598-608, Chiswick High Road London W4 5RT
21 January 2025
Page 2
EL SHADDAI DWXI-PPFI
Statement of Financial Activities for the Year Ended 30 May 2024
| Unrestricted fund Notes £ Income and endowments from Donations and legacies 186,432 Expenditure on Raising funds 2 149,686 NET INCOME/(EXPENDITURE) 36,746 Reconciliation of funds Total funds brought forward 37,811 Total funds carried forward 74,557 |
Year Ended 30.5.24 Restricted Total fund funds £ £ 48,872 235,304 - 149,686 48,872 85,618 200,658 238,469 249,530 324,087 |
Period 1.6.22 to 30.5.23 Total funds £ 210,382 229,024 (18,642) 257,111 238,469 |
|---|---|---|
The notes form part of these financial statements
Page 3
EL SHADDAI DWXI-PPFI
Statement of Financial Position
30 May 2024
| Unrestricted fund Notes £ Fixed assets Tangible assets 5 - Current assets Cash at bank 78,157 Creditors Amounts falling due within one year 6 (3,600) Net current assets 74,557 Total assets less current liabilities 74,557 NET ASSETS 74,557 Funds 7 Unrestricted funds Restricted funds Total funds |
Restricted fund £ 249,530 - - - 249,530 249,530 |
30.5.24 Total funds £ 249,530 78,157 (3,600) 74,557 324,087 324,087 74,557 249,530 324,087 |
30.5.23 Total funds £ 200,658 43,314 (5,503) 37,811 238,469 238,469 37,811 200,658 238,469 |
|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 May 2024.
The members have not required the company to obtain an audit of its financial statements for the year ended 30 May 2024 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
Page 4
continued...
EL SHADDAI DWXI-PPFI
Statement of Financial Position - continued
30 May 2024
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 21 January 2025 and were signed on its behalf by:
Mrs Jessie Obligado - Trustee
Mrs Analita Bas - Trustee
The notes form part of these financial statements
Page 5
EL SHADDAI DWXI-PPFI
Notes to the Financial Statements for the Year Ended 30 May 2024
1. Accounting policies
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Page 6
continued...
EL SHADDAI DWXI-PPFI
Notes to the Financial Statements - continued for the Year Ended 30 May 2024
2. Raising funds
Raising donations and legacies
| Year Ended 30.5.24 £ Food and consumables 3,836 Light and heat 2,370 Telephone 1,903 Sundries 1,886 Church Hire 20,405 Support services - London - Manila - London 60,819 Support services - SL 5,110 Manila - Newcastle 2,740 Funeral & Others - SL 2,462 Support services - Newcastle 3,000 Support costs 26,523 131,054 |
Period 1.6.22 to 30.5.23 £ 28,969 6,101 559 7,818 23,265 15,500 41,767 100 - - - 51,923 176,002 |
|---|---|
3. Trustees' remuneration and benefits
There were no trustees' remuneration or other benefits for the year ended 30 May 2024 nor for the period ended 30 May 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 30 May 2024 nor for the period ended 30 May 2023.
4. Comparatives for the statement of financial activities
| Unrestricted fund £ Income and endowments from Donations and legacies 210,382 Expenditure on Raising funds 229,024 NET INCOME/(EXPENDITURE) (18,642) Reconciliation of funds Total funds brought forward 56,453 Total funds carried forward 37,811 |
Restricted fund £ - - - 200,658 200,658 |
Total funds £ 210,382 229,024 (18,642) 257,111 238,469 |
|---|---|---|
Page 7
continued...
EL SHADDAI DWXI-PPFI
Notes to the Financial Statements - continued for the Year Ended 30 May 2024
5. Tangible fixed assets
| Cost At 31 May 2023 Additions At 30 May 2024 Net book value At 30 May 2024 At 30 May 2023 |
Freehold property £ 200,658 48,872 249,530 249,530 200,658 |
|---|---|
A freehold property valued at £48,872 was purchased in Sunderland 2024
6. Creditors: amounts falling due within one year
| Trade creditors | 30.5.24 30.5.23 £ £ - (1) |
|---|---|
| Accrued expenses | 3,600 5,504 |
| 3,600 5,503 |
7. Movement in funds
| Unrestricted funds General fund Restricted funds Restricted Fund TOTAL FUNDS |
At 31.5.23 £ 37,811 200,658 238,469 |
Net movement in funds £ 36,746 48,872 85,618 |
At 30.5.24 £ 74,557 249,530 324,087 |
|---|---|---|---|
Net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds Restricted Fund TOTAL FUNDS |
Incoming resources £ 186,432 48,872 235,304 |
Resources Movement expended in funds £ £ (149,686) 36,746 - 48,872 (149,686) 85,618 |
|---|---|---|
Page 8
continued...
EL SHADDAI DWXI-PPFI
Notes to the Financial Statements - continued
for the Year Ended 30 May 2024
7. Movement in funds - continued
Comparatives for movement in funds
| At 1.6.22 £ Unrestricted funds General fund 56,453 Restricted funds Restricted Fund 200,658 TOTAL FUNDS 257,111 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 210,382 TOTAL FUNDS 210,382 |
Net movement At in funds 30.5.23 £ £ (18,642) 37,811 - 200,658 (18,642) 238,469 Resources Movement expended in funds £ £ (229,024) (18,642) (229,024) (18,642) |
|---|---|
8. Related party disclosures
There were no related party transactions for the year ended 30 May 2024.
Page 9
EL SHADDAI DWXI-PPFI
Detailed Statement of Financial Activities for the Year Ended 30 May 2024
| Detailed Statement of Financial Activities for the Year Ended 30 May 2024 |
||
|---|---|---|
| Period | ||
| 1.6.22 | ||
| Year Ended | to | |
| 30.5.24 | 30.5.23 | |
| £ | £ | |
| Income and endowments | ||
| Donations and legacies | ||
| Tithes | 177,751 | 154,920 |
| Group Remittances | 21,909 | 23,549 |
| Love Offerings | 35,644 | 31,913 |
| 235,304 | 210,382 | |
| Total incoming resources | 235,304 | 210,382 |
| Expenditure | ||
| Raising donations and legacies | ||
| Food and consumables | 3,836 | 28,969 |
| Light and heat | 2,370 | 6,101 |
| Telephone | 1,903 | 559 |
| Sundries | 1,886 | 7,818 |
| Church Hire | 20,405 | 23,265 |
| Support services - London | - | 15,500 |
| Manila - London | 60,819 | 41,767 |
| Support services - SL | 5,110 | 100 |
| Manila - Newcastle | 2,740 | - |
| Funeral & Others - SL | 2,462 | - |
| Support services - Newcastle | 3,000 | - |
| Other trading activities | 104,531 | 124,079 |
| Rates and water | 2,635 | - |
| General stipends | 5,940 | 36,771 |
| Events and Celebrations expenses | 7,100 | 13,082 |
| Music & Flowers | 2,957 | 3,169 |
| Support costs | 18,632 | 53,022 |
| Finance | ||
| Bank charges | 901 | 827 |
| Bank loan interest | 3,552 | 4,367 |
| 4,453 | 5,194 | |
| Governance costs | ||
| Accountancy and legal fees | 4,758 | 2,600 |
| Carried forward | 4,758 | 2,600 |
This page does not form part of the statutory financial statements
Page 10
EL SHADDAI DWXI-PPFI
Detailed Statement of Financial Activities for the Year Ended 30 May 2024
| Detailed Statement of Financial Activities for the Year Ended 30 May 2024 |
||
|---|---|---|
| Period | ||
| 1.6.22 | ||
| Year Ended | to | |
| 30.5.24 | 30.5.23 | |
| £ | £ | |
| Governance costs | ||
| Brought forward | 4,758 | 2,600 |
| Travel & Motor expenses | 1,770 | 7,906 |
| Flat & Office expenses | 371 | 1,379 |
| Repair and Maintenance | 15,171 | 34,564 |
| Other Charitable expenses | - | 280 |
| 22,070 | 46,729 | |
| Total resources expended | 149,686 | 229,024 |
| Net income/(expenditure) | 85,618 | (18,642) |
This page does not form part of the statutory financial statements
Page 11