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2021-03-31-accounts

Chapel of Praise (COP)

(a registered charity)

Trustees' Report and Accounts

For the Year Ended 31 March 2021

Chapel of Praise – Advancing the gospel and helping the community.

Charity Number 1110603

Chapel Of Praise – London

Report and Financial Statements for the year ended 31 March

2020

Contents
Page
Legal and administrative details 3
Trustees' report 4 - 5
Statement of Financial Activities 6
Balance Sheet 7
Notes to the Accounts 8 - 9

2

Chapel Of Praise – London

Legal and Administrative Details

Status

The Chapel of Praise is a registered charity number 1110603. It was registered as a company in October 2004 and was granted a charitable status in July 2005.

Principal place of Worship

Stratford Circus Theatre Square Stratford, London E15 1BX

Administrative Office

11 Ellingham View Dartford, Kent DA1 5SZ Telephone 0797 919 2659

Honorary officers

Adeyinka Smith - Director Rex Akpojaro - Trustee Teresa Fashipe – Secretary

Principal Bankers

Yorkshire Bank

28 To 30 Buttermarket St, Warrington, Ches., WA1, 2LE

3

Chapel Of Praise – London

Trustees' Report

For the year ended 31 March 2021

The trustees present their report and accounts for the year ended 31 March 2021.

COP’s aims are;

3) To make a positive impact in the community and contribute towards the well being of community as well as its inhabitants.

4) To provide grants towards the under-privileged in society as well as those in need of help.

Review of activities and events held during the financial year

Being the 16th year of the ministry, the bulk of the resources and effort continue to be towards growing the ministry as well as building our social media presence.

The main evangelistic campaign that the ministry undertook during this period continues to be outreach to those dealing with depression and other forms emotional difficulties.

Donations were slightly down due to the pandemic situation, we expect this to improve in the coming year.

The church currently has Rex Akpojaro as its pastor.

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Chapel Of Praise – London

Review of the Accounts

The accounts continue to show a healthy financial situation being the sixteenth year of operation. For this last financial year, the surplus was in the region of £19k. Our income now covers all our expenses.

The Trustees have given a huge amount of time using their specialist skills and a very hands-on management involvement.

Statement of Trustees' Responsibilities

The trustees are required by law to prepare financial statements for each financial year which give a true and fair view of the state of affairs of as at the end of the financial year and of its income and expenditure for the year then ended. In preparing those financial statements, trustees are required to:

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy COP’s financial position and which enable the Committee to ensure that the financial statements comply with the Charities Act 1993. The Committee is also responsible for safeguarding COP’s assets and hence for taking reasonable steps for the detection of fraud and other irregularities.

Members of the Management Committee

The following served as charity trustees and committee members during the year and up to the date of this report:

Rex Akpojaro Adeyinka Smith

5

Chapel Of Praise – London

CHAPEL OF PRAISE (COP) STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 March 2021

ABBREVIATED ACCOUNTS FOR THE YEAR ENDED 31/03/2021

PROFIT & LOSS Notes Year End 31/03/21
Income
Donations 3 34,270
Gift Aid Claim 4 6,411
CJRS Claim 4a 20,820
Refunds 204
Interest Earned 0
 61,705
Expenses
Advertising 5
Business Expenses 6 35,249
Charity Grants 7 1,772
Equipment 8 -
Other 9 -
Rent 10 5,553 42,574
Operating Surplus (Loss in brackets) 19,131

6

Chapel Of Praise – London

CHAPEL OF PRAISE (COP) STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 March 2021

BALANCE SHEET Year End 31/03/2021 ASSETS Fixed Assets (see note a) 6,023 Current Assets Debtors 0 Cash at Bank 0 17,462 Current Liabilities Creditors: Amount falling due within 1 year 0 (see note b) Total Assets less Current Liabilities 23,485 Financed by: Capital and Reserve 23,485

The financial statements were approved by the Management Committee on 01 December 2021 and signed on their behalf by:

Adeyinka Smith - 29/12/2021 Trustee …………………………………………………………….

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Chapel Of Praise – London

CHAPEL OF PRAISE (COP) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2021

1. ACCOUNTING POLICIES

(a) Basis of Accounting

The accounts are prepared under the historical cost convention and include the results of the charity's operations which are described in the Trustees' Report and all of which are continuing.

The accounts have been prepared in compliance with Statement of Recommended Practice on Charity Accounts.

The charity has taken advantage of the exemption in Financial Reporting Standard No. 1 from the requirement to produce a cash flow statement.

(b) Incoming resources

Incoming resources are reported gross.

All income is accounted for as received by the charity.

(c) Fixed Assets and Depreciation

The bulk of the tangible assets are mainly music and sound equipment as well as video equipment purchased for use in church services.

(d)

Value added tax

Value added tax is not recoverable by the charity, and as such is included in the relevant costs in the Statement of Financial Activities.

2. SURPLUS FOR THE YEAR

This is stated as:

The surplus of £19k is up from a surplus of £1k and is due mainly to actions taken to cut costs. We aim to continue a surplus in 2022.

8

Chapel Of Praise – London

3. DONATIONS
Church Offerings:
34,270
4. GIFT AID CLAIM
Gift Aid Claim:
6,411
4a. CJRS CLAIM
Corona Virus Job retention claim
20,820
5. ADVERTISING
Printing and distribution brochures &
Internet Advertising & Website Development
0
6. BUSINESS EXPENSES
Wages and Employer NI
24,000
Direct Business Expenses
11,249
7. CHARITY GRANTS
Grants to several missionaries & Speakers
1,772
8. EQUIPMENT AND OTHER ASSETS
Music and computer equipment
0

10. Rent
Use of Holiday Inn Conference Hall
5,553		 34,270
6,411
20,820
0
35,249
1,772
0
5,553

9

Company Registration No. 5270492 Registered charity No: 1110603

CHAPEL OF PRAISE

ABBREVIATED ACCOUNTS FOR THE YEAR ENDED 31/03/2021

PROFIT & LOSS
Year End
31/03/20
Income
Donations
37,922
Gift Aid Claim
9,565
JRS Claim
Refund
Interest Earned
0
Expenses
Advertising
Business Expenses
33,117
Charity Grants
Equipment
Miscellaneous
Other
Rent
13,248
Other Assets
-

Operating Surplus(Loss in
brackets)		 Year End
31/03/21
Notes
34,270
1
6,411
2
20,820
204
47,487
0
61,705
3
35,249
4
1,772
5
6
5,553
7
46,365
-
42,574
1,122
19,131

Notes:

  1. DONATIONS: Church Offerngs

  2. GIFT AID CLAIM: This is what is claimed from the HMRC under the Gift Aid Scheme.

  3. ADVERTISING: Printing and distribution of brochures, Internet Advertising & Website Development

4. BUSINESS EXPENSES

Wages and Employer NI as well as Direct Business Expenses

  1. CHARITY GRANTS: Grants to several missionaries & Speakers

  2. EQUIPMENT AND OTHER ASSETS

Music, Video and Computer Equipment New Pulpit, Office Equipment

7. Rent:

Use of Stratford Circus & Holiday Inn Conference Hall

Company Registration No. 5270492

CHAPEL OF PRAISE

ABBREVIATED ACCOUNTS FOR THE YEAR ENDED 31/03/2021

BALANCE SHEET
ASSETS
Fixed Assets(see note 1)
Current Assets
Debtors
Cash at Bank
Current Liabilities
Creditors:
Amount falling due within 1 year,
Total Assets less Current
Liabilities
Financed by:
Capital and Reserve
Notes
1. Musical, Sound & Office
Equipment		 Year End
31/03/2020
7,529
0
0
7,529
6,618
911
911		 Year End
31/03/2021
6,023
0
17,462
0		 23,485
23,485
23,485

Registered charity No: 1110603

a. For the year ending 31 March 2020 the company was entitled to exemption under section 477(2) of the Companies Act 2006.

b. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

c. The directors acknowledge their responsibility for:

i. ensuring the company keeps accounting records which comply with Section 386; and

ii. preparing accounts which give a true and fair view of the state of affairs of the company as at the end of the financial year, and of its profit or loss for the financial year, in accordance with the requirements of section 393, and which otherwise comply with the requirements of the Companies Act relating to accounts, so far as is applicable to the company.

d. These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the board on 01 December 2021 And signed on their behalf by: Adeyinka Smith, Director

Directors signature _Adeyinka Smith Date__29/12/2021

END OF ACCOUNTS

CHARITY COMMISSION FOR ENGLAND AND WALES Independent examinerfs report on the accounts Section A Independent ExaminèT'S Report Report to th6 trustsesl members of Ghaily Name CHAPEL OF PRAISE LTD On accounts for the yoar ended 3110312021 Charfty no Ilf any 1110603 Sèt oul ¢Jn pag•s 1&2 IrThemtw ¢0 page cl oddwonal shE¢￿I I rep￿1 to the truste￿ my examination ofthe a(xoun18 of tho abov• charity fthe Tr￿￿ the year ended 3110312021. AJ Ux ch¥iV$ tNste8s. you are rn8porn1b￿ forthe proparation of tha accounts In acc(Ydartt with the requlrements oflhe Charilies Act 2011 ResponslbUlll•s •nd ba81s of report I report In resped of my examlnatim of Ihe Trusys accounts carried oui under secth)n 145 01 the 2011 Act and In carrying out my examination, I have I￿lOWed 815 apFdicable DeclionJ given by the Charity Commlsslon 145(5)(b} of Ihfr A Indepond•nt I ha% cryTrp￿d my examinatkn. I confimi that no material matters havo oxamlnerfs ststsment Come to my attonlion in C￿neC￿n Y￿th the ex8mlnation (other Ihan that disclosed below") vthich gives me cause to believe that In, any material thè account5￿ re¢￿th not in accordanca with section 130 of the Chaths Art or the ac0￿nts did not with the accounlww records; or the accounts dtd not comply vath the appllcabl¢ requirements concemiry thè fom) arKI content of acctyjnts sel out in the Charbtle8 (Aco)unts Reports) Regulation8 2008 other than any requirement that the accounts 91￿ a Inje aThJ fa￿ vivw thlch 16 not a matter considered as part of an ind•porAJent examination. I haye no (xJKerns aNI have rzTh across no olher matters In conneGtion ith the exaMI￿tion to vthich attertion should be drawn In thls report In ¢xd8r to enable a underthdiffj of the aco)unts to be reached. ' F￿ase d*ie the Mxds Ki Its b￿ets Kthey th) nc4w. S￿fied: Dats: l L4 k¥ftco R•lwant profgsslonal quallfiution{s) or body Ill anyy. IER Oct 2018 Scanned with Camscanner

Address: 127 Victoria Avenue Walsall WS3 3ET 8èctichn B Disclosijre Only complete rf the examiner needs to highlight material matters of con￿rn (see CC32, IrKlependent examination of chartty accounts: directions and guidance for examin8rs). Give here brfof detalls of any ltsms that th• examiner wl8h•• to disclose. IER Oct 2018