**CCC SALVATION ARK PARISH TRUSTEES' REPORT AND ACCOUNTS YEAR ENDED 31ST DECEMBER 2024**
**CHARITY REGISTRATION NO: 1111122**
## **CCC SALVATION ARK PARISH FINANCIAL STATEMENTS YEAR ENDED 31ST DECEMBER 2024**
|**CONTENTS**|**PAGE**|
|---|---|
|LEGAL AND ADMINISTRATIVE INFORMATION|1|
|REPORT OF THE TRUSTEES|2-3|
|INDEPENDENT EXAMINERS REPORT|4|
|STATEMENT OF FINANCIAL ACTIVITIES|5|
|BALANCE SHEET|6|
|NOTES TO THE FINANCIAL STATEMENTS|7-9|
|DETAILED STATEMENT OF FINANCIAL ACTIVITIES|10|
1
## **CCC SALVATION ARK PARISH LEGAL AND ADMINISTRATIVE INFORMATION YEAR ENDED 31ST DECEMBER 2024**
CHARITY REGISTRATION NUMBER: 1111122 REGISTERED OFFICE: 12 Greengage Grove Village Manchester M13 9GA TRUSTEES: Adeniyi Adenuga Samson Taiwo Olufunmilayo Adenuga Olusola Lawal Olufemi Animashaun Florence Agiri Peter Oluwafemi Adenuga Olusegun Moses Ologunwa INDEPENDENT EXAMINER Sigmez Accountants Ltd Business and Charity Advisors 192 Varley Street Miles Plating Manchester M40 7EJ
2
## **CCC SALVATION ARK PARISH REPORT OF THE TRUSTEES YEAR ENDED 31ST DECEMBER 2024**
The trustees present their report with the financial statements of the charity for the year ended 31st December 2024. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities' issued in March 2005.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The charity is controlled by its governing document, a deed of trust, and constitutes an unincorporated charity.
## **Risk management**
The Board of Trustees is ultimately responsible for the system of internal control and for reviewing its effectiveness. However, such a system is designed to manage rather than eliminate the risk of failure to achieve business objectives, and can only provide reasonable and not absolute assurance against material misstatement of loss.
The Board has reviewed the effectiveness of the system of internal control. In particular, it has reviewed and updated the process for identifying and evaluating the major risks affecting the business and the policies and procedures by which these risks are managed.
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and Aims**
The Charity's objects are, for the benefit of the public:-
1) The advancement of the Christian religion;
2) To promote the work of the Church within the community and assisting those in need
3) The furtherance of the charitable work of the Charity by the advancement of such other charitable purposes as the Trustees shall from time to time decide.
## **Significant activities**
During the year the Charity has been compliant in the execution of its public benefit responsibilities by supporting other Churches in the UK as places where people are free to enter for spiritual worship and engage in a number of social functions. Activities of the organisation ran as normal.
In the planning of activities for the year, and having given due consideration to the Charity Commission's guidance on public benefit, and the specific guidance on charities for the advancement of religion in particular, the Charity has been committed in its efforts of advancing the objectives of Church in general and in providing welfare for members and the wider community who are facing hardship.
## **RESERVE POLICY**
The Trustees aim to retain sufficient free reserves at a level which equate to three months of unrestricted expenditure. These reserves are held in case of any sudden decline in income and to ensure that we can meet our commitments to providing our services and activities. Specifically, these commitments include our contractual obligations in relation to our support and outreach work.
## **FINANCIAL REVIEW**
The Trustees have implemented robust budgetary controls to monitor costs in an effort to continue to deliver its service in the future. Income - the total income for the twelve months under review was £172,215.
Expenditure - total expenditure in the year was £144,191. The Charity recorded an operating surplus for the year of £28,024; and carries forward Unrestricted funds of £98,176 and restricted funds of £720,000.
During the year the Trustees continued to place emphasis on financial management to ensure that the funds within the organisation are properly managed.
3
## **CCC SALVATION ARK PARISH REPORT OF THE TRUSTEES YEAR ENDED 31ST DECEMBER 2024**
## **STATEMENT OF TRUSTEE RESPONSIBILITIES**
The trustees are responsible for preparing the Report of the Trustees 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 and Wales, the Charities Act 2011, Charity Regulations 2008 and the provisions of the trust deed requires the trustees to prepare financial statements for each (Accounts and Reports) financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure of the charity for that period. In preparing those financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charity SORP;
- make judgements and estimates that are reasonable and prudent;
- 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 proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charity's Act 2011. 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.
This report is prepared in accordance with the special provision of Part 15 of the Companies Act 2006 relating to small companies.
Approved by order of the Board of Trustees on 14th March, 2025 and signed:
## ON BEHALF OF THE BOARD:
.............................................
**Adeniyi Adenuga- Trustee**
4
## **REPORT OF THE INDEPENDENT EXAMINER CCC SALVATION ARK PARISH YEAR ENDED 31ST DECEMBER 2024**
I report on the accounts for the year ended 31st December 2024 set out on pages five to nine.
## **Respective responsibilities of trustees and examiner**
The Charity's Trustees (who are also the Directors for the purposes of Company Law) are responsible for the preparation of the accounts. The Charity's Trustees consider that an independent examination is required. Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:
- examine the accounts under Section 145 of the 2011 Act
- to follow the procedures laid down in the General Directions given by the Charity Commission (under Section 145(5)(b) of the 2011 Act); and
- to state whether particular matters have come to my attention.
## **Basis of the independent examiners report**
My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts
## **Independent examiner's statement**
In connection with my examination, no matter has come to my attention:
- (1) which gives me reasonable cause to believe that, in any material respect, the requirements
- to keep accounting records in accordance with section 130 of the 2011 Act; and
- to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act
have not been met; or
- (2) to which, in my opinion, attention should be draw in order to enable a proper understanding of the accounts to be reached.
## **Omowunmi Shitta, FCCA**
Sigmez Accountants Ltd Business and Charity Advisors 192 Varley Street Miles Plating Manchester M40 7EJ
Date: 14th March, 2025
5
## **CCC SALVATION ARK PARISH STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31ST DECEMBER 2024**
|**CCC SALVATION ARK PARISH**
**STATEMENT OF FINANCIAL ACTIVITIES**
**YEAR ENDED 31ST DECEMBER 2024**|||
|---|---|---|
|**Unrestricted**
**funds**
**Restricted**
**funds**
**INCOMING RESOURCES**
**Notes**
**£**
**£**
**_Incoming resources from generated funds_**
Voluntary Income
2
172,215
-
**RESOURCES EXPENDED**
Charitable Activities
3
65,020
-
Support Costs
4
75,894
-
Governance Costs
5
3,277
-
**TOTAL RESOURCES EXPENDED**
144,191
-
**NET INCOME/EXPENDITURE FOR THE YEAR**
28,024
**-**
**RECONCILIATION OF FUNDS**
**Revaluation reserves - restricted**
-
720,000
**Funds brought forward - Unrestricted**
70,152
-
**TOTAL FUNDS CARRIED FORWARD**
**£98,176**
**£720,000**|**2024**
**2023**
**£**
**£**
172,215
94,017
65,020
45,580
75,894
48,557
3,277
2,008
144,191
96,145
28,024
(2,128)
720,000
720,000
70,152
72,280
**£818,176**
**£790,152**|**2023**
**£**
94,017|
|||45,580
48,557
2,008
96,145|
|||(2,128)|
None of the charity's activities were acquired or discontinued during the year and there were no recognised gains and losses for 2024 or 2023 other than those included in the statement of financial activities.
The notes on pages 7 to 9 form part of these accounts.
6
## **CCC SALVATION ARK PARISH BALANCE SHEET YEAR ENDED 31ST DECEMBER 2024**
||**Notes**|**2024**|**2023**|
|---|---|---|---|
|**FIXED ASSETS**||||
|**Tangible Assets**|6|**£793,471**|**£798,877**|
|**CURRENT ASSETS**||||
|Cash at bank and in hand||**27,505**|**8,771**|
|**CREDITORS: due within one year**|8|**-**|**-**|
|**Net Current Assets**||**27,505**|**8,771**|
|**TOTAL ASSETS LESS CURRENT LIABILITIES**||**820,976**|**807,648**|
|**CREDITORS: due after one year**|9|**(2,800)**|**(17,496)**|
|**TOTAL ASSETS LESS CURRENT LIABILITIES**||**£818,176**|**£790,152**|
|**FUNDS:**||**2024**|**2023**|
|Restricted Funds|10|**720,000**|720,000|
|Unrestricted Funds|10|**98,176**|**70,152**|
|Total funds||**£818,176**|**£790,152**|
The financial statements were approved by the Board of Trustees on 14th March, 2025 and were signed on its behalf by:
**……………………………………………………. Adeniyi Adenuga- Trustee** Adeniyi Adenuga - Trustee
The notes on pages 7 to 9 form part of these accounts.
7
## **CCC SALVATION ARK PARISH NOTES TO THE ACCOUNTS YEAR ENDED 31ST DECEMBER 2024**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by 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) and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
The CCC Salvation Ark Parish meets the definition of a public benefit entity under FRS 102.
## **Incoming resources**
All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
Donations and other incoming resources - Income from tithes of the network churches in the forum when these are receivable.
## **Resources expended**
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.
## Charitable activities
Costs of charitable activities are those costs relating to the activities carried out to meet the objectives of the Church. These include both directly attributable costs and apportioned support costs.
## **Governance costs**
Governance costs are the costs associated with the strategic direction of the organisation and with meeting regulatory responsibilities including apportioned support cost.
## **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.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
|useful life.||
|---|---|
|Freehold property|- 2% on cost|
|Furniture& equipment|- 20% on cost|
|Motor vehicles|- 20% on cost|
8
## **CCC SALVATION ARK PARISH NOTES TO THE ACCOUNTS YEAR ENDED 31ST DECEMBER 2024**
|**2. VOLUNTARY INCOME**
Tithes and Offerings
Gift Aid
Total incoming resources
**3. CHARITABLE ACTIVITIES**
Charitable donations
Conference and meeting
Ministry expenses
Evangelism and special events
Media expenses
**4. SUPPORT COSTS: MANAGEMENT**
Rates and water
Salary
Volunteer Expenses
Employer's PAYE & NI Contributions
Insurance
Light and heat
Telephone
Repairs and maintenance
Travel expense
Office and adminstrative expense
Motor vehicle expenses
Subscription
Depreciation - Owned Assets
Bank Charges
**5. GOVERNANCE COSTS**
Legal and professional fees|**2024**
**2023**
151,330
85,370
20,885
8,647
**£172,215**
**£94,017**
3,035
3,650
8,458
1,500
48,542
3,665
3,685
700
1,300
6,071
**65,020**
**15,586**
1,228
261
46,241
20,928
0
3,650
7,284
3,822
0
3,502
3,520
2,164
2,542
2,768
2,078
1,184
1,276
110
581
140
4,546
4,093
360
360
5,406
5,406
832
169
**75,894**
**48,557**
3,277
2,008
**3,277**
**2,008**|**2024**
**2023**
151,330
85,370
20,885
8,647
**£172,215**
**£94,017**
3,035
3,650
8,458
1,500
48,542
3,665
3,685
700
1,300
6,071
**65,020**
**15,586**
1,228
261
46,241
20,928
0
3,650
7,284
3,822
0
3,502
3,520
2,164
2,542
2,768
2,078
1,184
1,276
110
581
140
4,546
4,093
360
360
5,406
5,406
832
169
**75,894**
**48,557**
3,277
2,008
**3,277**
**2,008**|
|---|---|---|
|||3,650
1,500
3,665
700
6,071
**15,586**|
|||261
20,928
3,650
3,822
3,502
2,164
2,768
1,184
110
140
4,093
360
5,406
169
**48,557**|
|||2,008
**2,008**|
|**6. FIXED ASSETS**
**COST**
At 1st January 2021
Revaluation
Additions
Disposal
TOTAL
**DEPRECIATION**
Opening Balance
Charge for the year
**NET BOOK VALUE**
As at 31st December 2024
As at 31st December 2023|**Freehold**
**property**
100,000
720,000
0
-
820,000
26,000
2,000
28,000
**£792,000**
**£794,000**|**Fixtures and**|**Fixtures and**|**Fixtures and**|
**Motor Vehicles**
**Total**
24,984
125,534
-
720,000
-
92,055
-
(550)
24,984
937,039
20,107
138,162
3,406
5,406
23,513
143,568
**£1,471**
**£793,471**
**£4,877**
**£798,877**|**Total**
125,534
720,000
92,055
(550)
937,039|
|---|---|---|---|---|---|---|
||||**Fittings**||||
|||||550
-
92,055
(550)
92,055|||
|||||92,055
-
92,055||138,162
5,406
143,568|
|||||**-**
**-**|||
9
## **CCC SALVATION ARK PARISH NOTES TO THE ACCOUNTS YEAR ENDED 31ST DECEMBER 2024**
## **7. TRUSTEES REMUNERATION AND BENEFITS Trustees' expenses**
There are no paid staff. All tasks are carried out by Trustees who are not remunerated and do not receive any expenses or benefits for their activities.
|**8. CREDITORS : Amounts due within one year**
Accruals
**9. CREDITORS : Amounts falling due after one year**
Other Creditors|**2024**
**2023**
**0**
**0**
**-**
**-**
**2024**
**2023**
**£2,800**
**£17,496**|
|---|---|
|**10. MOVEMENTS IN FUNDS**
**Unrestricted Funds**
General Fund
**Restricted Funds**
**Unrestricted Funds**
General fund for the year
General fund brought forward
**Total funds**|**Incoming**
**Resources**
**£172,215**|**Resources**
**Expended**
**£144,191**
**2024**
**£720,000**
**£28,024**
**£70,152**
**98,176**
**£818,176**|**Movement in**|**Movement in**|**Movement in**|
|---|---|---|---|---|---|
||||**Funds**
**£28,024**
**2023**
**£720,000**
**(£2,128)**||**Funds**|
|||||**(£2,128)**||
|||||**£72,280**||
||||**70,152**
**£790,152**||**70,152**|
## **11. REVALUATION OF PROPERTY**
There was an official valuation of the property by an approved valuator.
## **12. EXTRA ORDINARY EVENT**
There are no extra ordinary event.
10
## **CCC SALVATION ARK PARISH INCOME AND EXPENDITURE YEAR ENDED 31ST DECEMBER 2024**
|**Incoming Resources:**
**Voluntary income:**
Tithes and Offerings
Gift Aid
Other Income
Total incoming resources
**RESOURCES EXPENDED:**
**Charitable activities:**
Charitable donations
Conferences and Meetings
Ministry expenses
Evangelism and Special Events
Media expenses
**SUPPORT COSTS: MANAGEMENT**
Rates and water
Salary
Volunteer Expenses
Employer's PAYE & NI Contributions
Insurance
Light and heat
Telephone
Repairs and maintenance
Travel expense
Office and adminstrative expense
Motor vehicle expenses
Subscription
Depreciation - Owned Assets
Bank Charges
**GOVERNANCE COSTS**
Professional & Accountancy Fees
**Total resources expended**
**Net expenditure**|**2024**
**£**
143,774
20,885
7,556
**172,215**
3,035
8,458
48,542
3,685
1,300
**65,020**
1,228
46,241
0
7,284
0
3,520
2,542
2,078
1,276
581
4,546
360
5,406
832
**75,894**
3,277
**3,277**
**144,191**
**28,024**|**2024**
**£**
143,774
20,885
7,556
**172,215**
3,035
8,458
48,542
3,685
1,300
**65,020**
1,228
46,241
0
7,284
0
3,520
2,542
2,078
1,276
581
4,546
360
5,406
832
**75,894**
3,277
**3,277**
**144,191**
**28,024**|**2023**
**£**
76,390
8,647
8,980
**94,017**
763
3,650
39,686
1,131
350
**45,580**
261
20,928
3,650
3,822
3,502
2,164
2,768
1,184
110
140
4,093
360
5,406
169
**48,557**
2,008
**2,008**
**96,145**
**(2,128)**|
|---|---|---|---|
|||**28,024**||