The Messiah Cherubim & Seraphim ( The way of the Salvation )
Charity Commission Reg No 1104564
Report & Financial Statements 31st March 2022
Coker Isah & Co. Chartered Certified Accountants
The Messiah Cherubim & Seraphim ( The way of the Salvation )
| INDEX | |
|---|---|
| Page | |
| Charity details | 1 |
| Trustees' Reports | 2 - 4 |
| Independent Examiners Report | 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 |
| Notes to Financial Activities | 8- 9 |
| Detail Statement of Financial Activities | 10 |
Page 1 The Messiah Cherubim & Seraphim ( The way of the Salvation )
Charity Details
Charity Commission Reg No 1104564
MANAGEMENT COMMITTEES
| Trustees | Mobolaji A Falase |
|---|---|
| Femi Awojobi | |
| Olu Lajuwomi | |
| Michael Oganla | |
| Secretary | Mobolaji A Falase |
| Charity Commission Reg No | 1104564 |
| Registered Office | 74 Church Road |
| Crystal Palace | |
| London SE19 2EZ | |
| Independent Examiner | James Coker MBA FCCA |
| Coker Isah & Co. | |
| Chartered Certified Accountants | |
| 74 Church Road | |
| Crystal Palace | |
| London SE19 2EZ | |
| Bankers | Barclays Bank |
| 1 Churchill Place | |
| London | |
| E14 5HP |
Page 2
The Messiah Cherubim & Seraphim ( The way of the Salvation )
Trustees' report for the year ended 31 March 2022
The trustees present their report together with the financial statements of the charity for the year ended 31 March 2022 . The financial statements have been prepared in accordance with the accounting policies set out on page 7 and comply with the charity's trust deed and applicable law.
Mission statement
EMPOWERING people from every walk of life become the BEST in all that God has called to be Walking in faith and ADVANCING into their God-given destiny
Trustees
The trustees named on page 1 have served throughout the year. Appointment of trustees is governed by the Trust Deed of the charity. The Board of trustees is authorised to appoint new trustees to fill vacancies arising through resignation or death of an existing trustee.
Investments powers
The Trust Deed authorises the trustees to make and hold investments using the general funds of the charity, but no such investments are presently held.
Constitution, objects and policies
The principal activity of the organization was that of providing advancement of Christian faith,including the relief of people in conditions of hardship or distress to benefitthe community at large,specifically through:.The advancement of Chritsian faith
.The relief of persons who are in condition of hardship,distress or who are aged .The relief of poverty
. Supporting other charity that respondto disasteres all over the world
The objects and policies of the charitable trust ensure the charity carries out activities that are in line with its purposes. The charity continues to seek additional donations to carry on running the organistion. The Trustees are responsible for the day to day running of the charity.
Financial review
Funds available are sufficient to permit the Trust to continue in operation in the medium term, given the continued support of the members. If this support is not continued in the longer term, further financial support would need to be sought to ensure the trust can continue to vary out its activities
Risk Management
The trustees actively review the major risk which the charity faces on a regular basis and believe that maintaining reserves at current levels, combined with an annual review of the controls over key financial systems, will ensure the charity has sufficient resources in the event of adverse conditions. The trustees have also examined other operational and business risks faced by the charity and confirm that they have established systems to mitigate the significant risks.
Page 3
The Messiah Cherubim & Seraphim ( The way of the Salvation )
Trustees' report for the year ended 31 March 2022
Future Developments
The charity's activities has increased during the year under review .
The trustees are seeking to extend the charity's activities and are pursuing a number of activities to enable this to happen
Reserve policy
It is the policy of the charity to maintain unrestricted funds at a level which provides sufficient funds to cover management and administration and support costs. Unrestricted funds are maintained at least at this level throughout the year.
Statement of trustees' responsibilities
Law applicable to charities in England Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the charity's financial activities during the year and of its financial position at the end of the year. In preparing those financial statements, the trustees are required to:
a) Select suitable accounting policies and apply them consistently;
b) make judgments 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 a going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping accounting records which 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 1993. 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.
Approval
This project was approved by the trustees on 12/ 11 / 2022 and signed on their behalf
Signed Mobolaji A Falase Trustee
Page 4
The Messiah Cherubim & Seraphim ( The way of the Salvation )
Independent Examiner's Report on the Accounts
Report the trustees and members of
The Messiah Cherubim & Seraphim ( The way of the Salvation )
The accounts for the year ended 31 March 2022 Set out in pages 5-8
Respective responsibilities of the trustees and examiner
As the trustees you are responsible for the preparation of the accounts, you consider that an audit
is not required under section 144 of the Charities Act 2011 and does not apply, and that
independent examination is needed
It is my responsibility to
-
examine the accounts under section 145 of the Charities Act
-
to follow the procedure paid down in the General Directions given by the Charity Commissioners under section 145(5)(b) of the Act and
-
to state 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 explanation 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 give me reasonable cause to believe that in any material respect the requirements
-
to keep accounting records in accordance with section 130 of the Act; and
-
to prepare accounts which accord with the accounting records and to comply with the accounting of requirement of the Act
have not been met.
(2) to which, in my opinion ,attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Signed
James Coker mba fcca Dated 12 /11 2022 Coker Isah & Co.
Chartered Certified Accountants 74 Church Road London SE19 2EZ
Page 5 The Messiah Cherubim & Seraphim ( The way of the Salv Statement of Financial Activities
For the year ended 31 March 2022
| 8 Incoming resources Voluntary Sources- Donation Total incoming resources Resources Expended 9 Direct Charitable Expenditure: 10 Management Administration Total Resources Expended Net Income resources for the year Fund brought forward 1st April 2020 Fund carried forward 31st March 2021 |
Unrestricted Fund 2022 £ 87034 87034 44340 4070 48410 38624 27799 66423 |
Unrestricted U Fund 2021 £ 73729 73729 33606 3078 36684 37045 -9246 27799 |
|---|---|---|
There were no recognised gains or loss for the 2021 & 2022 other than included in the statement of Financial activities
Page 6
| The Messiah Cherubim & Seraphim | ( The | way of the Salvation ) | way of the Salvation ) | ||
|---|---|---|---|---|---|
| Balance Sheet | |||||
| 31st March 2022 | |||||
| 2022 | 2021 | ||||
| £ | £ | £ | |||
| FIXED ASSETS | 4 | 31,393 | 1,482 | ||
| CURRENT ASSETS | |||||
| Debtor | 0 | 7,700 | |||
| Bank & cash | 108,392 | 93,083 | |||
| 108,392 | 100,783 | ||||
| CREDITORS | |||||
| Amounts falling due within one year | |||||
| Accrual & deferred income | 5 | 25,362 | 26,466 | ||
| 25,362 | |||||
| Net Current Assets | 83,030 | 74,317 | |||
| 114,423 | 75,799 | ||||
| CREDITORS | |||||
| Amounts falling due within one year | |||||
| Banl Loan | 48,000 | 48,000 | |||
| 66,423 | 27,799 | ||||
| ACCUMULATED FUND | |||||
| Retained Surplus Brought Forward | 6 | 27,799 | -9,246 | ||
| Surplus for the year | 38,624 | 37,045 | |||
| Retained surplus CF | 66,423 | 27,799 | |||
| Approved on 17/11/2022 and | signed on behalf of the Trustee9 |
By
Signed Mobolaji A Falase Trustee Member
Page 7
The Messiah Cherubim & Seraphim ( The way of the Salvation )
Notes to the Financial Statements For the year ended 31 March 2022
1 Accounting policies
- 1.1 Accounting convention
The financial statements are prepared under historical cost convention and in accordance with The Financial Reporting Standard for Smaller Entities (FRSSE) (effective Jan 2005) and statement of Recommended Practice (SORP 2005) ,and with the Charity Acts 1993
- 1.2 Incoming Resources
The Income represent the total donation and Income Tax Clamed excluding Value Added Tax , receivable during the year
1.3 Depreciation Depreciation is provided on tangible Fixed Assets at rate calculated to write off the cost less residual value of each assets over its expected useful life as follows:-
Fixture fitting and equipment 25% reducing balance method Freehold 0% reducing balance method
-
1.4 Donation
-
Donation receivable are credited to the Statement of Financial Activities (SOFA)) in the year for the year which they are received.
-
1.5 Resources Expended Resources Expended are included in the Statement of Financial Activities (SOFA) on an accrual basis inclusive of VAT
-
1.6 Unrestricted Funds Unrestricted Funds are donations and other incoming resources received or generated for the charitable purposes
1.8 Restricted Funds
Restricted Funds are funds received which can only be used for the specific purpose as laid out by the donor Expenditure which meets this criterion is identified to the fund, together with a fair allocation of overheads costs. During the year there are no restricted fund.
2 Income
The total income of the organization for the year has been derived from its principal activity wholly undertaken in the UK
- 3 Operating surplus
Operating surplus 2022 2022 Operating surplus is stated after charging £ £ Depreciation of tangible assets 371 494
Page 8 The Messiah Cherubim & Seraphim ( The way of the S
Notes to the Financial Statements
For the year ended 31 March 2022
| 4 Fixed Assets Freehold Cost 01-Apr-21 30,282 Additions 0 31-Mar-22 30,282 # Depreciation 01-Apr-21 0 Charge for the year 0 31-Mar-22 0 Net Book Values 31-Mar-22 30,282 31-Mar-20 5 Creditors amount falling due with one year Trustee loan Creditor and accrual Inland Revenue 6 Summary of Assets by Fund Unrestricted funds Surplus bf Surplus for the year |
Freehold 30,282 0 30,282 |
Fixture Fittings equipment £ 15,683 0 15,683 14,201 371 14,572 1,111 1,482 2,022 £ 0 22,652 2,710 25,362 2022 27,799 38624 66,423 |
Total 45,965 0 |
|---|---|---|---|
| 45,965 | |||
| 0 0 |
14,201 371 |
||
| 14,572 | |||
| 0 | |||
| 31,393 | |||
| 31,764 | |||
| 2,021 £ 1,571 23,457 1,438 |
|||
| 26,466 | |||
| 2021 -9,246 37045 |
|||
| 27,799 |
7 Trustees Remuneration
No trustee was paid under PAYE System
Page 8
The Messiah Cherubim & Seraphim ( The way of the Salvatio Notes to the Financial Statements For the year needed 31 March 2022
| 8 Total incoming resources Unrestricted Fund 2022 £ Voluntary Sources- Donation 87034 Gift Aids Total incoming resources 87034 9 Direct Charitable Expenditure: Wages & salary 8000 Conferences Function and events 10382 Rent & rates- water inc 15123 Insurance 1173 Light heat 0 Repair & maintenance 8379 Printing postage & stationery 287 Advertising & publicity 0 Telephone 376 Overseas travel 0 Motor & Travelling 620 Direct Charitable Expenditure: 44340 10 Management & administration Expenditure Legal & professional 722 Accountancy 1750 Bank charges 15 General expenses 942 Donation 270 Depreciation F F &E 371 Management & administration 4070 Total resources expended 48410 Net movement in funds for the year 38624 FUND BALANCES B/F 27799 FUND BALANCES C\F 66423 |
Unrestricted Fund 2021 £ 68881 4848 |
|---|---|
| 73729 | |
| 0 12612 15056 1656 356 1930 200 0 720 850 226 |
|
| 33606 | |
| 722 1200 462 200 494 |
|
| 3078 | |
| 36684 | |
| 37045 -9246 |
|
| 27799 |