ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024
Christian Church of God Pentecostal
(A company limited by guarantee) Charity registration number: 1111976 Company registration number: 05526997
Independent Examiners Ltd 2 Broadbridge Business Centre Delling Lane Bosham, Chichester West Sussex PO18 8NF
CHRISTIAN CHURCH OF GOD PENTECOSTAL
CONTENTS
| Reference and Administrative Details | 1 |
|---|---|
| Trustees' Report | 2 to 4 |
| Independent Examiner's Report | 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 |
| Notes to the Financial Statements | 8 to 13 |
CHRISTIAN CHURCH OF GOD PENTECOSTAL
REFERENCE AND ADMINISTRATIVE DETAILS
Trustees
Bishop Dr Michael Obasuyi (Deceased 26 March 2025) Ephraim Obasuyi Patience Obasuyi Cornella Watson Fredrick Akinwunmi
Charity Registration 1111976 Number Company Registration 05526997 Number
The charity is incorporated in England. Registered Office 88 Eltham High Street London SE9 1BW Independent Examiner G W Schulz FCMA Independent Examiners Ltd 2 Broadbridge Business Centre Delling Lane Bosham, Chichester West Sussex PO18 8NF Bankers Barclays Bank plc 41 Woolwich New Road London SE18 6ET
Page 1
CHRISTIAN CHURCH OF GOD PENTECOSTAL
TRUSTEES' REPORT
The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements of the charitable company for the year ended 30 September 2024.
Objectives and activities
Objects and aims
The main object is to advance the Christian religion in accordance with the statement of faith attached to the Memorandum as the trustees see fit from time to time.
Public benefit
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
Achievements and performance
THANKSGIVING : Our Thanksgiving of 2024 was amazing. We were privileged to have The Calvary Essence Steel Band and the Diamond Dance Group who enhanced the day which attracted both the young and elderly in the community. This was a great community event bringing people from various backgrounds together for a fun-filled day.
THE CHURCH CHOIR: It was great having the elderly and young sing and dance together - attracting the younger ones to join in the singing spirit. The Choir is also a great way to help build confidence and develop the talent of those in the community.
EASTER SERVICE: It was good to have mothers from the local community turn up for the Easter celebration service, particularly to receive their free Easter eggs, which church members had donated.
CONFERENCE : It was good to attend the Ixthus Church Council Conference held on Saturday 11th May 2024 with some of the Church leaders, it was good to have fellowship “ together. The theme was The Sign of the Times” . The conference was a reflective conference and inspirational. It was a great way for ministers and church leaders to come together on such a vital topic. The conference was a poignant reminder for us to discern the sign of the times amidst a world of upheaval.
BIBLE STUDIES : We have had more people joining and having more interest in the Bible studies which is encouraging.
GLOBAL MINISTERS ASSOCIATION: We’ve had ministers gather together to pray for peace of the land and the government. It is also a great support network for the ministers themselves.
DONATIONS-FOOD BANK : Many thanks to all the church members who gave so generously-lots of non-perishable items, toiletries, tin food, etc. This act of kindness meant we were able to invite the Food Bank Manager in Eltham, who was extremely grateful.
Page 2
CHRISTIAN CHURCH OF GOD PENTECOSTAL
TRUSTEES' REPORT
EVANGELISM / OUTREACH : Thanks to the evangelism team that has been inspired and ignited with one of the church new leaders joining the church. Evangelism is much alive again with the church outreach every week meeting and inviting the local residence and business on the Highstreet.
CHURCH HALL : We are still hopeful as the local Property agent continue to view the church hall and await tenants for the nursery hall that has been empty since COVID. It seems the lack of outside space for the nursery also contributed to the close down, as well as only having a pedestrian right of way to the property.
Financial review
Income for the year amounted to £33,916 (2023- £25,835) and expenditure £28,716 (2023 - £32,871). The surplus was added to funds brought forward, with £464,252 being the value of the funds at the year end.
Policy on reserves
The trustees have considered the level of reserves they wish to retain, appropriate to the charity's needs. This is based on the charity's size and the level of financial commitments held. The trustees aim to ensure the charity will be able to continue to fulfil its charitable objectives even if there is a temporary shortfall in income or unexpected expenditure. The trustees will endeavour not to set aside funds unnecessarily.
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.
Structure, governance and management
Nature of governing document
Memorandum and Articles of Association incorporated on 3rd August 2005 certificate of incorporation on change of name 25th August as amended by a special resolution dated 30th October 2005.
Recruitment and appointment of trustees
The management of the company is the responsibility of the trustees who are elected and co-opted under the terms of the Articles of Association.
Risk management
The trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity, and are satisfied that systems and procedures are in place to mitigate our exposure to the major risks.
Page 3
CHRISTIAN CHURCH OF GOD PENTECOSTAL
TRUSTEES' REPORT
Statement of responsibilities
The trustees (who are also the directors of Christian Church of God Pentecostal for the purposes of company law) 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), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".
Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including its income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:
-
select suitable accounting policies and apply them consistently;
-
observe the methods and principles in the Charities SORP;
-
make judgements and estimates that are reasonable and prudent;
-
state whether applicable accounting standards, comprising FRS 102 have been followed, subject to any material departures disclosed and explained in the financial statements; and
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping proper accounting records that can disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Small companies provision statement
This report has been prepared in accordance with the small companies regime under the Companies Act 2006.
The annual report was approved by the trustees of the charity on 5 June 2025 and signed on its behalf by:
......................................... Patience Obasuyi Trustee
Page 4
CHRISTIAN CHURCH OF GOD PENTECOSTAL
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CHRISTIAN CHURCH OF GOD PENTECOSTAL
I report to the charity trustees on my examination of the accounts of Christian Church of God Pentecostal for the year ended 30 September 2024.
Responsibilities and basis of report
As the charity’s trustees of Christian Church of God Pentecostal (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 Christian Church of God Pentecostal 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 Christian Church of God Pentecostal 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.
...................................... G W Schulz FCMA Independent Examiners Ltd
5 June 2025
Page 5
CHRISTIAN CHURCH OF GOD PENTECOSTAL
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 SEPTEMBER 2024
| Note Unrestricted funds £ Income and Endowments from: Donations and legacies 3 33,916 Total income 33,916 Expenditure on: Charitable activities 4 28,716 Total expenditure 28,716 Net income/(expenditure) 5,200 Net movement in funds 5,200 Reconciliation of funds Total funds brought forward 459,052 Total funds carried forward 10 464,252 |
Total 2024 £ 33,916 33,916 28,716 28,716 5,200 5,200 459,052 464,252 |
Total 2023 £ 25,835 |
|---|---|---|
| 25,835 | ||
| 32,871 | ||
| 32,871 | ||
| (7,036) | ||
| (7,036) 466,088 |
||
| 459,052 |
The notes on pages 8 to 13 form an integral part of these financial statements. Page 6
CHRISTIAN CHURCH OF GOD PENTECOSTAL
(REGISTRATION NUMBER: 05526997) BALANCE SHEET AS AT 30 SEPTEMBER 2024
| Note Fixed assets Tangible assets 7 Current assets Debtors Cash at bank and in hand Creditors: Amounts falling due within one year 8 Net current liabilities Total assets less current liabilities Creditors: Amounts falling due after more than one year 9 Net assets Funds of the charity: Unrestricted income funds Unrestricted funds Total funds 10 |
2024 £ 650,000 3,109 - 3,109 (19,103) (15,994) 634,006 (169,754) 464,252 464,252 464,252 |
2023 £ 650,000 2,548 725 |
|---|---|---|
| 3,273 (8,682) |
||
| (5,409) | ||
| 644,591 (185,539) |
||
| 459,052 | ||
| 459,052 | ||
| 459,052 |
For the financial year ending 30 September 2024 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors' responsibilities:
-
The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476; and
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
The financial statements on pages 6 to 13 were approved by the trustees, and authorised for issue on 5 June 2025 and signed on their behalf by:
......................................... Patience Obasuyi Trustee
The notes on pages 8 to 13 form an integral part of these financial statements. Page 7
CHRISTIAN CHURCH OF GOD PENTECOSTAL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024
1 Charity status
The charity is limited by guarantee, incorporated in England, and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £10 towards the assets of the charity in the event of liquidation.
2 Accounting policies
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
The financial statements have been prepared 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)) (issued in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). They also comply with the Companies Act 2006 and Charities Act 2011.
Basis of preparation
Christian Church of God Pentecostal 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 notes.
Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.
Income and endowments
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 the income receivable can be measured reliably.
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category.
Page 8
CHRISTIAN CHURCH OF GOD PENTECOSTAL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024
Charitable activities
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Tangible fixed assets
Individual fixed assets costing £2,500.00 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation and amortisation
No depreciation is charged to freehold property as the property is maintained to such a standard that the estimated residual value is not less than cost.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.
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.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Liabilities
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 company 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.
Page 9
CHRISTIAN CHURCH OF GOD PENTECOSTAL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024
Fund structure
Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity.
Financial instruments
The company 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.
3 Income from donations and legacies
| Donations and legacies; Donations to major appeals Gift aid reclaimed |
Unrestricted funds General £ 24,141 9,775 33,916 |
Total 2024 £ 24,141 9,775 33,916 |
Total 2023 £ 21,445 4,390 |
|---|---|---|---|
| 25,835 |
4 Expenditure on charitable activities
| Note Church services and events Property costs Conferences and travel Telephone Printing, post and stationery Insurance Professional fees Interest Bank charges Independent examination Grant funding of activities Staff costs 6 |
Unrestricted funds General £ 7,259 5,365 2 1,133 3 1,147 966 11,732 293 816 - - 28,716 |
Total 2024 £ 7,259 5,365 2 1,133 3 1,147 966 11,732 293 816 - - 28,716 |
Total 2023 £ 3,216 5,479 27 1,125 588 635 793 13,840 238 780 50 6,100 |
|---|---|---|---|
| 32,871 |
Page 10
CHRISTIAN CHURCH OF GOD PENTECOSTAL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024
5 Trustees remuneration and expenses
During the year the charity made the following transactions with trustees:
Bishop Dr Michael Obasuyi
Bishop Dr Michael Obasuyi received remuneration of £Nil (2023: £6,100) as pastor of the church during the year.
No trustees have received any reimbursed expenses or any other benefits from the charity during the year.
6 Staff costs
The aggregate payroll costs were as follows:
| Staff costs during the year were: Wages and salaries |
2024 £ - |
2023 £ 6,100 |
|---|---|---|
The monthly average number of persons (including senior management / leadership team) employed by the charity during the year expressed as full time equivalents was as follows:
| 2024 No Staff - No employee received emoluments of more than £60,000 during the year. 7 Tangible fixed assets Land and buildings £ Cost At 1 October 2023 650,000 At 30 September 2024 650,000 Depreciation At 30 September 2024 - Net book value At 30 September 2024 650,000 At 30 September 2023 650,000 Page 11 |
2024 No Staff - No employee received emoluments of more than £60,000 during the year. 7 Tangible fixed assets Land and buildings £ Cost At 1 October 2023 650,000 At 30 September 2024 650,000 Depreciation At 30 September 2024 - Net book value At 30 September 2024 650,000 At 30 September 2023 650,000 Page 11 |
2023 No 1 |
|
|---|---|---|---|
| Total £ 650,000 650,000 - 650,000 650,000 |
|||
| 650,000 - |
|||
| 650,000 | |||
| 650,000 | |||
CHRISTIAN CHURCH OF GOD PENTECOSTAL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024
8 Creditors: amounts falling due within one year
| Bank overdrafts Bank loans Other creditors Accruals |
2024 £ 638 9,250 7,748 1,467 19,103 |
2023 £ - 7,250 - 1,432 |
|---|---|---|
| 8,682 |
9 Creditors: amounts falling due after one year
Bank loans
| 2024 £ 169,754 |
2023 £ 185,539 |
|---|---|
A loan facility was set up in 2010 to provide a mortgage to enable the purchase of the new worship premises. Barclays Bank plc provided the mortgage for £280,000.
10 Funds
| 10 Funds | ||||
|---|---|---|---|---|
| Unrestricted funds General General Funds Unrestricted funds General General Funds |
Balance at 1 October 2023 £ 459,052 Balance at 1 October 2022 £ 466,088 |
Incoming resources £ 33,916 Incoming resources £ 25,835 |
Resources expended £ (28,716) Resources expended £ (32,871) |
Balance at 30 September 2024 £ 464,252 |
| Balance at 30 September 2023 £ 459,052 |
Page 12
CHRISTIAN CHURCH OF GOD PENTECOSTAL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024
11 Analysis of net assets between funds
| Tangible fixed assets Current assets Current liabilities Creditors over 1 year Total net assets Tangible fixed assets Current assets Current liabilities Creditors over 1 year Total net assets |
Unrestricted funds General £ 650,000 3,109 (19,103) (169,754) 464,252 Unrestricted funds General £ 650,000 3,273 (8,682) (185,539) 459,052 |
Total funds at 30 September 2024 £ 650,000 3,109 (19,103) (169,754) |
|---|---|---|
| 464,252 | ||
| Total funds at 30 September 2023 £ 650,000 3,273 (8,682) (185,539) |
||
| 459,052 |
Page 13