DESTINY TEMPLE Reports and Accounts for the year ended 31ST MARCH 2025
Legal and administrative information
Status
Registered charitable organisation since 7th April 2006.
Trustees and management committee of the church
Mrs. Jennifer Phillips (Chairperson) Mr. Nnaemeka Anukam Mr. Sunday Adegun Rev George Obare
Registered charity number
1113679
Registered office Destiny Temple and operations Worcester Street Gloucester GL1 3AS
Email address
info@destinytemple.com
Bankers
Natwest Bank
Accountant
AL Accounting Solutions Chartered Certified Accountants 21A Brighton Road South Croydon Surrey CR2 6EA
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DESTINY TEMPLE Reports and Accounts
for the year ended 31ST MARCH 2025
Trustees Report
The trustees present its annual report and the unaudited financial statements for the year ended 31 March 2025.
The year 2024 -2025 was themed “Foundation”. We took time to strategically lay foundations of the church and the teams that serve in Church.
Challenges Faced:
1. Attendance : Our church numbers are not where we would like them to be but they are steadily improving
2. Staffing : We are still short staffed, but we hope that in the coming year we will add more member into the staff particularly in the areas of either worship or community.
Successes Achieved:
1. Staffing : We managed to employ an administrator on a fulltime basis to help with establishing systems and structures in church.
2. Online and Onsite Services : Both our Online and Onsite services have greatly improved both in numbers and quality. We are now experiencing the benefits of Online services which is turning be a great blessing and greatly impacting our Onsite attendance.
- Destiny Team : We have a great team of volunteers who were tirelessly working behind the scenes to make the year a great success. This year we have seen many join the team to serve in any capacity and this is a great blessing. In fact, we are where we are because of how strong the team
4. Conference : Our annual “Destiny Conference”, themed, ‘Open Heavens’ was a great success. We had an amazing guest minister who preached and grounded us in the word of God. Many turned up online and onsite for the three days.
5. Carol service : Our Christmas Splendour (Carol service) was great. We had both the band and the children minister greatly. It was also a blessing to see the community join us in this event. After the Carol service, we prepared a Christmas meal for the whole church.
6. Welfare : We managed to cater to our congregants’ physical needs by providing food and financial help to those who were in need especially after the pandemic. We also donated food items to the community through the ‘Foodbank’.
We also managed to help our international churches financially to support them in their missions.
7. Concert : This year we had two concerts: ‘Alive Concert’ during Easter and ‘Destiny Concert’ during the conference. The turnout was amazing, and the atmosphere was great.
We look forward to a new year themed; “Raise the Standard”. We will empower God’s people with the Word and necessary materials that will help them raise their lives standards so that we can enjoy a victorious life.
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DESTINY TEMPLE Reports and Accounts
for the year ended 31ST MARCH 2025 Responsibilities and basis of preparation of the report
The trustees acting as the management committee are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and 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.
Signed on behalf of the trustees
………………………………. Date ……………………………….
Bishop George Obare (Senior Pastor)
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DESTINY TEMPLE Reports and Accounts
for the year ended 31ST MARCH 2025
Independent Examiner's Report to the Trustees
I report to the trustees on my examination of the accounts of the above charity for the above period.
Responsibilities and basis of report:
As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).
I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement:
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:
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the accounting records were not kept in accordance with section 130 of the Charities Act; or
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the accounts did not accord with the accounting records; or
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the accounts did 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.
Alhassan Bangura FCCA AL Accounting Solutions Chartered Certified Accountants 21A Brighton Road South Croydon Surrey CR2 6EA
Date.....................................................
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DESTINY TEMPLE
Reports and Accounts
Statement of Financial Activities (including Income and Expenditure Account) for the year ended 31ST MARCH 2025
| Unrestricted Funds Notes £ Incoming resources: Voluntary Income 3 99,677 Gift Aid claims 16,877 Bank interest received 8 Total Incoming resources 116,562 Resources Expended Resources Expended 6/7 96,569 Total resources expended 96,569 Net Surplus / (Deficit) for the year 19,993 Opening Funds 319,000 Closing Funds 338,993 |
Total Funds 2025 £ 99,677 16,877 8 116,562 96,569 96,569 19,993 319,000 338,993 |
Total Funds 2024 £ 60,051 18,966 - 79,017 67,911 67,911 11,106 307,894 319,000 |
|---|---|---|
No restricted funds at the end of the year
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DESTINY TEMPLE Reports and Accounts
Balance Sheet as at 31ST MARCH 2025
| Tangible Fixed assets Freehold Buildings at cost Church Building Vicarage Building Other tangible Fixed Assets: Building Improvements Plant & Machinery Current assets Other Debtors Cash at Bank and in Hand Current Liabilities Less: Creditors and Accruals Long term liabilities Mortgage Loan Net Asset REPRESENTED BY: Unrestricted Funds |
Notes 2 4 5 |
£ £ 120,000 350,000 470,000 22,515 22,480 44,995 17,500 1,406 18,906 (12,895) 6,011 (182,013) 338,993 338,993 338,993 2025 |
2024 £ 120,000 350,000 470,000 23,700 21,962 45,662 5,000 2,922 7,922 (4,517) 3,405 (200,067) 319,000 319,000 319,000 |
2024 |
|---|---|---|---|---|
Accounts signed on behalf of the Board of trustees
……………………………….
Date ……………………………….
Bishop George Obare
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DESTINY TEMPLE Reports and Accounts
Notes forming part of the financial statements for the year ended 31ST MARCH 2025
1. Accounting policies
a) The accounts (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) issued in October 2019 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2019.
b) Voluntary income is received by the way of donations towards religious tithes and offerings. Donations received is included in full in the Statement of Financial Activities in the year in which they are received.
c) Resources expended are recognised in the period in which they are incurred. Resources expended include attributable VAT which cannot be recovered.
d) Depreciation is provided at rates calculated to write off the cost of each asset over its expected useful life as follows: - Building Improvements 5%
- Plant & Machinery 20%
e) Unrestricted funds are donations and other incoming resources received for the objects of the charity without further specified purpose and are available as general funds.
f) Restricted funds are to be used for specific purposes as laid down by the donor.
2. Other Tangible Fixed Assets
| Building Improvement £ Cost: As at 1 April 2024 37,065 Additions - As at 31ST MARCH 2025 37,065 Depreciation/Amortisation: As at 1 April 2024 13,365 Charge 1,185 As at 31ST MARCH 2025 14,550 Net Book Value: As at 31ST MARCH 2025 22,515 As at 1 April 2024 23,700 3. Voluntary Income Tithe & offering Partners donation Other donations |
Plant & Machinery £ 125,758 6,138 131,896 103,796 5,620 109,416 22,480 21,962 2025 £ 91,535 6,561 1,581 99,677 |
Total £ 162,823 6,138 168,961 117,161 6,805 123,966 44,995 45,662 2024 £ 58,014 444 1,593 60,051 |
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DESTINY TEMPLE Reports and Accounts
Notes forming part of the financial statements for the year ended 31ST MARCH 2025
| 2025 £ 4. Creditors & Accruals Inland Revenue PAYE/NI 3,576 Mortgage Loan arrears - Credit card balance 8,179 Accruals 1,140 12,895 5. Vicarage Mortgage Loan Opening balance 200,067 Repayments (26,490) Interest charged 8,436 Closing balance 182,013 £ 6. Resources Expended Salaries & Wages 38,349 Donations, welfare & honorarium 2,605 Events and outreach programmes 19,411 Vicarage Expenses 8,436 Utilities (Heat, Light & Water) 8,435 Building Improvement & maintenance 5,092 Travelling & motor expenses 3,002 Telephone & internet 720 Legal & professional fees 478 Bookkeeping & accountancy fees 1,296 Bank charges & Credit card interest 1,940 Depreciation 6,805 Total 96,569 7. Related Party transactions £ Related party transactions are resources expended to trustees or their relatives Salaries and wages 22,839 Benefits (vicarage for full time minister) 8,436 31,275 |
2024 £ 306 2,038 1,093 1,080 4,517 210,596 (24,452) 13,923 200,067 £ 28,905 1,247 6,498 13,923 5,756 999 1,406 662 199 1,236 343 6,737 67,911 £ 22,839 13,923 36,762 |
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Registered Charity No: 1113679
DESTINY TEMPLE
Reports and Accounts Year ended: 31ST MARCH 2025
AL Accounting Solutions Limited Chartered Certified Accountants 21A Brighton Road South Croydon Surrey CR2 6EA
DESTINY TEMPLE Reports and Accounts
Contents
| Page No | |
|---|---|
| 1 | Legal and administrative information |
| 2-3 | Trustees Report |
| 4 | Independent Examiner's Report to the Trustees |
| 5 | Statement of Financial Activities |
| 6 | Balance Sheet |
| 7-8 | Notes forming part of the financial statements |