Charity number: 1103112
CELESTIAL CHURCH OF CHRIST (REHOBOTH PARISH)
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022
CELESTIAL CHURCH OF CHRIST (REHOBOTH PARISH)
CONTENTS
| Page | |
|---|---|
| Reference and administrative details of the Charity, its Trustees and advisers | 1 |
| Trustees' report | 2 - 4 |
| Independent examiner's report | 5 |
| Statement of financial activities | 6 |
| Balance sheet | 7 |
| Notes to the financial statements | 8 - 16 |
CELESTIAL CHURCH OF CHRIST (REHOBOTH PARISH)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 30 SEPTEMBER 2022
| Trustees | Mr Femi Mike Ogundele (appointed 27 February 2022) |
|---|---|
| Mr Oludotun Ogunewu | |
| Mrs Ayoola Dawodu | |
| Mrs Elizabeth Anu-Oluwapo Sangobiyi (appointed 27 February 2022) | |
| Mr Adebowale Adedosu | |
| Dr Oluwabunmi Olajide | |
| Mrs Olubosola Aderibigbe | |
| Charity registered number 1103112 Principal office 13 Bridge Close Romford RM7 0AU Accountants GIL Accountancy Services 177 Ballens Road Chatham Kent ME5 8PG Bankers Barclays Bank Plc 1 Churchill Place London E14 5HP |
Page 1
CELESTIAL CHURCH OF CHRIST (REHOBOTH PARISH)
TRUSTEES' REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2022
The Trustees present their annual report together with the financial statements of the Celestial Church of Christ (Rehoboth Parish) for the 1 October 2021 to 30 September 2022.
The Rehoboth Family (TRF) is a dynamic Spiritual and bible believing church. The church comprises a mixture of different races from multicultural communities.
The church is currently located at 36 Eastwood Road, Rayleigh, Essex SS6 7JQ.
Objectives and activities
. Policies and objectives
Our Vision : A growing fellowship guided and led by the Holy Spirit through the sharing of God’s boundless love within the Essex community and worldwide.
Our Mission :
We are a people responding to God’s boundless love, guided by the Holy Spirit to:
Grow in faith and understanding of God’s will.
Proclaim God’s Word through worship, Bible study and prayer.
Nurture, care for and share our gifts and resources with the needy.
Welcome others to join us in sharing His love in our located community and the world at large.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
. Activities undertaken to achieve objectives
The church has several activities which are directed at achieving our aims. Our activities include bi-weekly Bible Study, Fasting and Prayer, evangelism, Sunday school and welfare.
These activities are undertaken through our various dedicated departments and ministries. Our Parish Pastor offers counselling to our members as well as members of the community. We also have social activities which bring members of the church and the community together in celebration.
. Main activities undertaken to further the Charity's purposes for the public benefit
Serving the Community
We are incorporated for Rehoboth Community Project since 2007 for services as a major contributor to reaching out to our immediate community and beyond for lofty programs. The church has a food bank team put in place for the general public. We encouraged the public to take part in our regular social activities set up within the church premises. We have billiard and table tennis tables, PlayStation, board games (Chess, scrabble, Ludo, etc.), and a boxing bag.
During the Covid 19 pandemic, a Covid relief fund was set up for church members - the elderly, single parents and other vulnerable members. Grants were provided to sustain church member during this difficult time. A support line was also set up to provide moral/emotional support and pastoral care for church members and members of the community.
Partnerships with Charity Organisations
The church holds firmly to the saying “Service to humanity is the best work of life” TRF has continued to extend itself to the communities within Essex. The church is in partnership with Saint Francis Hospice and The Blind and Sight Impaired Society (BASIS). We have also supported the Salvation Army based in Romford. Yearly, we also do food banks for the less privileged in our community.
Page 2
CELESTIAL CHURCH OF CHRIST (REHOBOTH PARISH)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2022
Achievements and performance
Financial review
. Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
. Reserves policy
The Charity seeks to maintain reserves which match any obligation, such as to employees, and to ensure sustainability beyond the next quarter. The target is to build and maintain unrestricted reserves equating to three months normal expenditure
. Financial overview
The Church is mainly funded by members’ donations. Our transaction records are kept by appointed non-paid members of the church.
Total receipts during the year was £232,309 (2021: £270,621). Total expenditure for the year was £86,703 (2021: £71,399). The detailed breakdown of the accounts can be found in the accompanying SOFA, balance sheet and notes.
Structure, governance and management
. Constitution
Celestial Church of Christ (Rehoboth Parish) is a registered charity, number 1103112, and is constituted under a Trust deed.
. Methods of appointment or election of Trustees
The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.
Page 3
CELESTIAL CHURCH OF CHRIST (REHOBOTH PARISH)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2022
Statement of Trustees' responsibilities
The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles of the Charities SORP (FRS 102);
-
make judgments and accounting estimates that are reasonable and prudent;
-
state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees and signed on their behalf by:
................................................ Mr Oludotun Ogunewu (Chair of Trustees)
Date: 20 July 2023
Page 4
CELESTIAL CHURCH OF CHRIST (REHOBOTH PARISH)
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2022
Independent Examiner's Report to the Trustees of Celestial Church of Christ (Rehoboth Parish) ('the Charity')
I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 30 September 2022.
Responsibilities and Basis of Report
As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent Examiner's Statement
Your attention is drawn to the fact that the Charity has prepared the accounts in accordance with 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.
I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
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 that in any material respect:
-
accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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.
Signed: Dated: 20 July 2023 D TABIRI FCCA
177 Ballens Road, Chatham. ME5 8PG
Page 5
CELESTIAL CHURCH OF CHRIST (REHOBOTH PARISH)
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 SEPTEMBER 2022
| Note Income from: Donations and legacies 3 Total income Expenditure on: Raising funds 4 Charitable activities 5 Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2022 £ 232,309 232,309 19,797 66,906 86,703 145,606 619,191 145,606 764,797 |
Total funds 2022 £ 232,309 232,309 19,797 66,906 86,703 145,606 619,191 145,606 764,797 |
Total funds 2021 £ 270,621 |
|---|---|---|---|
| 270,621 | |||
| 22,765 48,634 |
|||
| 71,399 | |||
| 199,222 | |||
| 419,969 199,222 |
|||
| 619,191 |
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 8 to 16 form part of these financial statements.
Page 6
CELESTIAL CHURCH OF CHRIST (REHOBOTH PARISH)
BALANCE SHEET AS AT 30 SEPTEMBER 2022
| Note Fixed assets Tangible assets 9 Current assets Debtors 10 Cash at bank and in hand Creditors: amounts falling due within one year 11 Net current assets Total assets less current liabilities Creditors: amounts falling due after more than one year 12 Net assets excluding pension asset Total net assets Charity funds Restricted funds 14 Unrestricted funds 14 Total funds |
12,600 238,398 250,998 (1,545) |
2022 £ 1,007,344 1,007,344 249,453 1,256,797 (492,000) 764,797 764,797 - 764,797 764,797 |
12,600 607,841 620,441 (1,250) |
2021 £ - |
|---|---|---|---|---|
| - 619,191 |
||||
| 619,191 - |
||||
| 619,191 | ||||
| 619,191 | ||||
| - 619,191 |
||||
| 619,191 |
The financial statements were approved and authorised for issue by the Trustees on 20 July 2023 and signed on their behalf by:
................................................
Mr Oludotun Ogunewu
The notes on pages 8 to 16 form part of these financial statements.
Page 7
CELESTIAL CHURCH OF CHRIST (REHOBOTH PARISH)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022
1. General information
CELESTIAL CHURCH OF CHRIST (REHOBOTH PARISH): is a registered charity, number 1103112, and is constituted under a Trust deed.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
Celestial Church of Christ (Rehoboth Parish) meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
2.2 Income
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.
2.3 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Expenditure on raising funds includes all expenditure incurred by the Charity to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
Page 8
CELESTIAL CHURCH OF CHRIST (REHOBOTH PARISH)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022
2. Accounting policies (continued)
2.3 Expenditure (continued)
All expenditure is inclusive of irrecoverable VAT.
2.4 Tangible fixed assets and depreciation
Tangible fixed assets costing £NIL or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, .
Depreciation is provided on the following basis:
Freehold property
1% Straight line
2.5 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
2.6 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
2.7 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.
2.8 Financial instruments
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
Page 9
CELESTIAL CHURCH OF CHRIST (REHOBOTH PARISH)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022
2. Accounting policies (continued)
2.9 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
3. Income from donations and legacies
| Unrestricted funds 2022 £ Donations 181,710 Gift Aid receipts 50,599 232,309 Unrestricted funds 2021 £ Donations 238,250 Grants 11,071 Gift Aid receipts 21,300 270,621 |
Total funds 2022 £ 181,710 50,599 |
|---|---|
| 232,309 | |
| Total funds 2021 £ 238,250 11,071 21,300 |
|
| 270,621 |
Page 10
CELESTIAL CHURCH OF CHRIST (REHOBOTH PARISH)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022
4. Expenditure on raising funds
Costs of raising voluntary income
| Unrestricted funds 2022 £ Employer pension costs 595 Harvest expenses 3,000 Staff costs - wages and salaries 16,202 19,797 Unrestricted funds 2021 £ Harvest expenses 6,281 Staff costs - wages and salaries 16,484 22,765 |
Total funds 2022 £ 595 3,000 16,202 |
|---|---|
| 19,797 | |
| Total funds 2021 £ 6,281 16,484 |
|
| 22,765 |
5. Analysis of expenditure by activities
| Activities | ||
|---|---|---|
| undertaken | Total | |
| directly | funds | |
| 2022 | 2022 | |
| £ | £ | |
| Church Activities | 66,906 | 66,906 |
Page 11
CELESTIAL CHURCH OF CHRIST (REHOBOTH PARISH)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022
5. Analysis of expenditure by activities (continued)
| Activities | ||
|---|---|---|
| undertaken | Total | |
| directly | funds | |
| 2021 | 2021 | |
| £ | £ | |
| Church Activities | 48,634 | 48,634 |
Analysis of direct costs
| Rent & rates Printing, postage and stationery Light & heat Van repairs and maintenance Church and Ministry materials Insurance Building repairs and maintenance Professional fees Accountancy fees Bank and card charges Media materials Planning fees General expenses Telephone Travel Hospitality Cleaning, Health & safety Training |
Total funds 2022 £ 38,700 179 9,653 567 367 2,287 - 5,963 1,250 684 - 63 475 1,534 1,113 320 2,923 828 66,906 |
Total funds 2021 £ 26,794 1,555 8,908 373 287 364 1,096 2,593 1,250 484 622 2,377 692 1,239 - - - - |
|---|---|---|
| 48,634 |
Page 12
CELESTIAL CHURCH OF CHRIST (REHOBOTH PARISH)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022
6. Independent examiner's remuneration
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Fees payable to the Charity's independent examiner for the independent | ||
| examination of the Charity's annual accounts | 1,250 | 1,250 |
7. Staff costs
| Wages and salaries | 2022 £ 16,202 16,202 |
2021 £ 16,484 |
|---|---|---|
| 16,484 |
The average number of persons employed by the Charity during the year was as follows:
| 2022 | 2021 | |
|---|---|---|
| No. | No. | |
| Staff | 1 | 1 |
No employee received remuneration amounting to more than £60,000 in either year.
8. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2021 - £NIL) .
During the year ended 30 September 2022, no Trustee expenses have been incurred (2021 - £NIL) .
Page 13
CELESTIAL CHURCH OF CHRIST (REHOBOTH PARISH)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022
9. Tangible fixed assets
| Cost or valuation Additions At 30 September 2022 Net book value At 30 September 2022 At 30 September 2021 |
Freehold property £ 1,007,344 |
|---|---|
| 1,007,344 | |
| 1,007,344 | |
| - |
10. Debtors
| Due within one year Other debtors - Loan to Sister Parish |
2022 £ 12,600 12,600 |
2021 £ 12,600 |
|---|---|---|
| 12,600 |
11. Creditors: Amounts falling due within one year
| Other taxation and social security Pension fund loan payable Accruals and deferred income |
2022 £ 237 58 1,250 1,545 |
2021 £ - - 1,250 |
|---|---|---|
| 1,250 |
Page 14
CELESTIAL CHURCH OF CHRIST (REHOBOTH PARISH)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022
12. Creditors: Amounts falling due after more than one year
| Other loans Financial instruments Financial assets Financial assets measured at fair value through income and expenditure |
2022 £ 492,000 2022 £ 238,398 |
2021 £ - |
|---|---|---|
| 2021 £ 607,841 |
13. Financial instruments
14. Statement of funds
Statement of funds - current year
| Unrestricted funds General Funds - all funds Statement of funds - prior year Unrestricted funds General Funds - all funds |
Balance at 1 October 2021 £ 619,191 Balance at 1 October 2020 £ 419,969 |
Income £ 232,309 Income £ 270,621 |
Expenditure £ (86,703) Expenditure £ (71,399) |
Balance at 30 September 2022 £ 764,797 |
|---|---|---|---|---|
| Balance at 30 September 2021 £ 619,191 |
Page 15
CELESTIAL CHURCH OF CHRIST (REHOBOTH PARISH)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022
15. Analysis of net assets between funds
Analysis of net assets between funds - current year
| Unrestricted funds 2022 £ Tangible fixed assets 1,007,344 Current assets 250,998 Creditors due within one year (1,545) Creditors due in more than one year (492,000) Total 764,797 |
Total funds 2022 £ 1,007,344 250,998 (1,545) (492,000) 764,797 |
|---|---|
Analysis of net assets between funds - prior year
| Current assets Creditors due within one year Total |
Unrestricted funds 2021 £ 620,441 (1,250) 619,191 |
Total funds 2021 £ 620,441 (1,250) 619,191 |
|---|---|---|
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