CHARITY REGISTRATION NUMBER: 1124464 DESTINY INTERNATIONAL CHRISTIAN ASSEMBLY Trustees, Report and Financial Statements for the Year Ended 31 December 2023 Chartered Certified Accountants Unit 16, Brockley Cross Business Centre g6 Endwell Road LONDON SE4 2PD DESTINY INTERNATIONAL CHRISTIAN ASSEMBLY FÉnancial Ststements Year ended 31 December 2023 Page Trustees, annual report Independent examiner's report to the trustees Statement of financial activities ststement of financial positlon Notes to the financial statements 10 DESTINY INTERNATIONAL CHRISTIAN ASSEMBLY Trustees, Annual Report Year ended 31 December 2023 The trustees present their report and the unaudited financial slalemenls of the charty for the year ended 31 December 2023. Reference and admlnlslratlvè detalls Reglstered charlty name DESTINY INTERNATIONAL CHRISTIAN ASSEMBLY Charity registration number 1124464 Prlnclpal offlce 95 caMbe￿ell Station Road Camberwell LONDON SE5 9JJ The trustees Pastor Preowel Ovla Dr. Yaya Obozua Pastor Moses Ekhuemelo Mr. Blessing A. Joseph Rev. Mrs Tlnuade Ovia Independent examlner Mr Joshua Efue FCCA DESTINY INTERNATIONAL CHRISTIAN ASSEMBLY Trustees, Annual Report {contsnuedJ Year ended 31 December 2023 structure, governance and management Governlng Document Tha Charity is governed by a Trust Deed made on 5 March 2008. Organisational Structure The organisalional slruelure of the Charity Consists of the Trustees who determine the policles of the Charity and éepartmenlal heads who are ir¢ charge of various deparlmenlal functions of the Charlty. Govomancg and Management The Chairman appoin15 members of the Core team who are responsible for various divisions and key result areas. The Trustee5 have agreed lo restructure Ils Deparlmenls. Organisalional slructure underlies this decision as il was consldered proper lo be open and also respond promptly lo changes in our communities. New Departments have now been created and new volunteers have been glven the opportunity to serve in various Departments 8né capacitie8. Alms and purposos The Trustees have the responsibility of running the Charlty and promotlng 11$ values in Ilne with its haritable objects whlch are as follows.. 1. To advance the Chrlsllan Fallh in accordance with the slalemenl of bellefs In such ways and In such parts of the Unilod Kingdom or the world as the Trustees from lime lo lime may think fit. 2. To relleve slckness and financial hardship and lo promote and preserve good health by providing funds. goDds or seNices of any kind, including through the provlslon of counselllng and support in such Parts of the Unlled Kingdom or the World as the Trustees from 1Sme lo Ilme Ihlnk fll. 3. To fulfill su¢h other purpose5 which are exclusively charitable according lo the law or England and Wales and are ¢onne¢led with the Gharilable work of the Trust in such ways and such parts of tho United Kingdom or the World as the Tiuslees from lime lo lime may think fil. 4. The Trustees musl use the In￿Me and may us• the Gapilal of the Church In promoting the oblects. DESTINY INTERNATIONAL CHRISTIAN ASSEMBLY Trustees. Annual Report fcontlnued) Year ended 31 December 2023 Objectives and 8Gtivities The Trustees are commilled lo establishing the values of the Christian Faith through the Charills activities and services lo the benefit of the recipients of ils services with regard to the Charity Commission's guidance on public b6nefil especially as il relates lo the advancement of religion. 1. Pastoral Care- The Trustees are commilled lo Carrying out a pastoral needs analysis with a view lo identifying persons who are in hardship and ar8 in need of care. The Charity r&sponds by providlng financial help, prayers and Gounselling. This is provided lo anyone who Is In need of pastoral care and it 15 offered without any discrimination or prejudice. 2. Educatlonal In line with Its charltable oblect, the Trustees provided weekly fora in various communities In the Unil¢d Kingdom and other parts of the world for people of different persuasion$. classes, cultures and race lo learn about the Christian Faith. 3. Spirituality This is provided in the Chri81ian context through worship, prayer and preaching. The huroh helps parlshion8rs to Ilve out Ihelr Fallh and trust in Jesus Christ. 4. Mlsslons - The Charlty Is committed lo missionary aclivllles around the world. 5. GDPR Pollcy - The ChaTlly has r8vlewed ils operations and has taken steps lo ensure ¢ompllan¢e. This is on-going. 6. SafÈgu8rdlng Pollcy- The Charity has reviewed Its operations and has taken steps lo ensure compliance.The Enhanced DBS Is mandatory for all mlni$lers who work wllh children and young people. This15 on-goln9. DESTINY INTERNATIONAL CHRISTIAN ASSEMBLY Trustees. Annual Report (contlnued) Year ended 31 December 2023 Achiavements and performance The followng are a summary of our achlevements and performances. Worship, Prayer and Education Various activities were planned and successfully executed to the benefit of members of different communities. This resulted In effecllve engagement with various cornmunilies wh8re the Charity functions. 1. The Trustees decided that il will continue lo engage wllh the community through ils monthly evangelism programme and various prayer meetings. The Charity placed an emphasls on weekly ministerial prayers in order lo offer 118 members and visitors a very good service. This Is also lo encourage cohesion in the community. 2. The Iralning and development of members of the Cholr Is on-going. 3. The Charlty trained ils members corporately on the effecllve ways of praying. This is on-going. 4. The Charlly ran Disclpleship training programme and we are maklng arrangement for some members lo be baptlsed. 5. The Charity still offers courses leadlng lo formal Iheologlcal quallflcatlon. The member of the Charlly who was granled a scholarship has completed a Master's degree. The Charity has granted another scholarshlp lo a member lo Gomplele a Master's degree In Theology. 6. The CharSly Is sllll working with a Univer51ty lo offer formal Iheologlcal educalk*n lo a group of pastors in the Far East and Auslralla. The emphasls on Iheologlcal capital Is lo ensure that members engage in sound dialogue when confronted with ideas Ihal are strange lo the Christian faith. 7. We shlpped Blble Study malerlals In February 2023 lo a Church In Owo, Ondo Slate, Nigeria. 8. We provided free GCSE examination preparation techniques for Year 11 students In a community In Milton Keynes. 9. We fed the needy during Chr151mas and also supplled free hampers. 10. We supported some needy people in Mlllon Keynes. Networking and Ecumenical Relatlonshlps The Charity is still a rnember of the EVANGELICAL ALLIANCE. Apart from this achievemenl, we stiii continue to network with other Churches in our communi1Ses. Pastoral ¢ounselling and prayers are also offered lo other ministers in the community. Charltable Use of Church Faclllty 1.we are still planning lo open the ChurGh facility for parishioners to come for personal prayors outside our normal servi¢e days. This has further been encouraged by deslgnatlng spe¢rfic leaders to assist DESTINY INTERNATIONAL CHRISTIAN ASSEMBLY Trustees, Annual Report {contlnu6d) Year ended 31 December 2023 those who lack compeleney in this arga. 2.The Charity continues lo provide pastoral care lo those In need. The Community Team identifies various needs in the community and has delivered assistance lo the needy. 3.we supported the homel88s and needy in London and Milton Keyne5. This is on-going. 4.we have successfully offered drop In servlces for counsellng and prayers. This is on-going. 5.we are planning a communily-based programme durlng the Chrlslma8lNew Year festiva period for the needy in various communities. 6.The Charity helps the old$rly who have difficulties with mobility by bring them lo 118 $ervice8. This helps lo promote communitarians. Pastoral Care 1. The Charill8 Prisons oulrea¢h has been provldlng spirllual support lo prisoners who are in need. Thi8 Is on-going. 2. We visited th8 slck In hospit818 and In homes. Members wefe able to asslst the sick by providing Invaluable seNlces which maybe IherapeLtlic and in a way ctsnlribuled to the recovery of the recipients. The Charity decided that Ihls should conllnue. 3. We provided regular funds lo asslst those In varlous needs, for example, bereavement, hardship and so on. Th8 Trustees decided that Ihls should be on-golng. 4. Tho Charity runs a monthly Food Ald programme In the ¢ommunlly. This15 on-golng. Volunteers The Charity continues lo enjoy Ihe services of various volunteers. The Trustees reilerale that the suc¢es$es of the Charity could not have been achieved if not for the Invaluable conlrlbullons of all those who volunteered, for example, members of the Core Team and Head5 of Departments and Ihelr teams. The Trustees wll like lo thank the volunteers for their conlrlbulion and we pray that God wlll bless everyong. Mlsslon and Evangelism In pursuant of our aim lo communicate the gospel Internationally. we Successfully achieved the followlng.. 1. We plan to expand and extend our servlces lo other nations where there are growing demands. Thi3 is on-going. 2. The Tru$lees decided lo continue supporting the International branches of the Church. Thls Is on- going. 3. The Church has provided p?storal oversight through the leadership of the Chairman. This Is on- going. 4. The Charlty declded lo promote good nutritional behaviour among members. We had several health promollng talks. 5. The Charity contributed lo the refurbishment of a school in Nigeria. DESTINY INTERNATIONAL CHRISTIAN ASSEMBLY Trustees. Annual Report (conttnued) Year ended 31 December 2023 Overseas Projects - Global Aid Mission The Tru51ees' decision lo invest in the welfare of various communities in Sierra Leon8, Ghana and Nigeria will be executed when il is saf8 lo do so. Commillees have alrgady been setup lo manage the projects. The Charity is presently providing education and training to some youths in Nigeria. West Africa. This is on-going. These projects were carefully selected after rnuch due diligence which was aimed al protecting the Gbarity. The Trustees also provldes food to those In need In the community- This Is on-going. Flnanclal rèvlew The incorne of the Church is derived predominantly from donations by the members. Total receipts on unre$lri¢ted funds amounted lo £258,979. Total receipts on the reslricled funds amounted lo £129.150. The reslricled funds relate lo the bullding fund whlch Is $pe¢ifically sel asiée for th6 maintenance of the church building. The CharSly18 C8rrylng forward 8 lolal fund of £1,483,520 made up of £1.088,538 orn unrestrlcted funds and £394,982 on re8lrlcled fund8. The Irusleos, ar¢nual report was approved on 25 Oolober 2024 and slgned on behalf of the board of Iruslees by.. Pastor Preowel Ovla Chair DESTINY INTERNATIONAL CHRISTIAN ASSEMBLY Independent Examiner's Report to the Trustees of DESTINY INTERNATIONAL CHRISTIAN ASSEMBLY Year ended 31 December 2023 I report lo the trustees on my examination of the finar)cial slalements of DESTINY INTERNATIONAL CHRISTIAN ASSEMBLY {'Ihe charilll for the year ended 31 December 2023. Responsibilities and basls of report As the trustees of th8 charity you are responslble for the preparation of the firtrancial slalements in accordance with the requirements of the Charities Act 20111'lhe Act'l. I report in respect of my examination of the charlly's fin8ncl81 statements carried OLJI under section 145 of the 2011 Act and in carrying out my examlnalion I have followed all the 2ppllcable Directions giv8n by the Charity Commission under section 145lSllbl of the AGI. Independent examlner's statement SlnGe the charlty's gr05s income exceeded £250,000 yOLtr examln8r must be a member of a body Ilsled In section 145 of the 2011 Act. I confirm that l am qualified lo undertake the examlnaliDn because l am 8 member of the Association of Chartered Certified Accounlanls, whlch is one of the li$ted bodies. I have completed my examination. I confirm that no malerlal matters have come lo my allenllon In connectlon w51h the examlnalion givlng me cause lo b81iev8 that In any material re8pecl.' Accountlng records werè not kept in resp¢¢l of the charity as requlred by section 130 of the Act.. or The flnancial Slatemenls do not accord wlth those records., or The financlal slalemenl8 do not comply with the appliGable requirements concerning the form and content of accoLtnl8 8el out in th¢ Charities IAcGounls and Ropoflsl Regulations 2008 other than any requlremenl that the ae¢ounls give a 'lrue and falr, view whlch is not maller consldered as part of an Independent examination. I have no concerns and have come across no other matters In conneelion with the examination lo which allenlion should be drawn In Ihls report in order lo enable a prtsper understsnding of the accounts lo be reached. Mr Joshua Efue FCCA Independent Examiner Joshua Efue & Co Chartered Certified A¢¢ounlantS Unil 16. Brockl&y Cross Business Centre 96 Endwell Road LONDON SE4 2PD DESTINY INTERNATIONAL CHRISTIAN ASSEMBLY statement of Financial Activities Yèar ended 31 December 2023 2023 Restricted funds Total funds Total funds 2022 Unrestricted funds Note Income and endowments Donations and lega¢ies Other trading 2clivitie5 Investment income 255.709 111.201 13.640 4.309 366,910 13,64Q 7.580 322,762 9,600 918 3,270 Total Incom8 258,979 129,150 388.130 333.280 Expendlture Expendllure on raising funds.. Costs of ralsing donations and legacles Expendllure on charitable activities Total expendlture 195,625 2,311 (1,9371 2,277 193.688 4.590 194,989 4,121 197,936 340 198,278 199,110 Not In¢om• and ngt movement In funds 61,043 128,810 189,852 134,170 R¢¢oncllSatSon of funds Total funds brought forward Total funds carrléd forward 1,027,494 1,088,538 286,172 1,293,666 1,483,520 1,159,497 1,293,666 394,982 The Slalemenl of flnancial a¢tivitie5 includes all gaSns and losses recognised in the year. All income and expendilurtr d6rive from conllnulng actlvilies. The notes on pages 10 to 18 form part of these financial statements. DESTINY INTERNATIONAL CHRISTIAN ASSEMBLY Statement of Financial Position 31 December 2023 2023 2022 Not• Fixed asyet$ Tangible fixed assets Investments 14 55,975 44,200 59,340 100,175 59,340 Current assets Investments Cash at bank and in hand 16 30,300 1,355,206 30.300 1.213,032 1,385,506 1,243,332 Credltors: amounts falllng du6 wSthln on& ￿#r Net current a88et8 17 2.161 9,006 1.234.326 1.383.345 Total assets less currant Ilabllltl•s 1,483,520 1.483,520 1,293,666 1.293.668 Nat assets Fund8 of thè charlty Reslricled funds Unreslricled funds 394,982 1,088,538 19 1,483,520 378,608 915,058 1,293,666 Total charlty funds These financial statements were approved by the board of trustees and authorlsed for Issue on 25 October 2024, and are signed on behalf of the board by.. Dr. Yaya Obozua Trustee The notes on pages 10 to 18 form part of thasè financial statèmants. DESTINY INTERNATIONAL CHRISTIAN ASSEMBLY Notes to the Financial Statements Year ended 31 December 2023 General Informatlon The charity is a public benefit entity ar¢d a registered charity in England and Wales and is unincorporated. Th8 address of the principal office is 95 Camberwell Station Road, Camberwell, LONDON, SE5 9JJ. Statement of compllancè These financial statements have been prepared in compliance with FRS 102, 'The Financlal Reporting Standard applicable in the UK and the Republic of Ireland,, the Slalemenl of Recommended Practice applicable to charities preparing their accounts in accordance wilh the Financial Reporting Stsndard applicable in the UK and Republic of Ireland IFRS 1021 (Charities SORP {FRS 10211 and the Charitie5 Act 2011. Accounting policles Basls of praparatlon The flnanclal slalemenls have been prepared on the historical ¢¢sl basis, as mocsified by the revaluation of certaln flnancial assets and Ilabilllies and investment properties measured al fabr V81ue through Income or expandllure. The financlal 81alemenls are prepered In gterllng. whlch Is the functSonal currency of Ihe enllly. Golng con¢eTn There are no material uncertainties about the charltls abillly to contlnlte. Dlsclosure èxomptlon$ The entity salisfles the crilerla of bglng a quallfylng enlily as defined in FRS 102. 118 flnancial slal¢menls af¢ consolidated Into the financial slalemenls of {enler nam8 of group flnancial slalemenlsl which can bg obtained from {enler delalll. As such, advantage has b8en taken of the following disclosure exomplions available under paragraph 1.12 of FRS 102.. Judgements and key sourcos of èstlmatlon uncèrtaSnty The preparation of the financial statements requires management to make judgements, eslimales and assumptions Ihal affect the amounts reported. These eslimales and judgements are continually reviewed and are based on experience and other factors, including expeclalion8 of future events that aro bèlieved lo be reasonable under the circumstances. Fund accounting Unreslricled funds are available for use al Ihe discretion of the Iruslees to further any of the charitls purposes. Designated funds are unreslri¢led funds earmarked by the Iruslees for particular future project or commitment. Restricted funds are subjected to reslriclions on their expenditure declared by the donor or through the terms of an appeal, and fall Into one ¢)f Iwo sub-¢lasses: restricted income funds or endowment funds. 10 DESTINY INTERNATIONAL CHRISTIAN ASSEMBLY Notes to the Financial Ststements (coBtlnugdJ Year ended 31 December 2023 Accountlng pollcles fconlinued) Incoming resourcos All incoming resources are included in the statement of flnanclal aclivitles when entlllemenl has passed lo the charity., Il is prubable that the economlc benefits assoclaled with the Iransactlon will Ilow lo the charity and the amount can be rellably measured. The following speciflc policles are applied to particular categories of Income.. Income from donations or grants is recognised when there is evidence of entitlement to the grfl, receipt 15 probable and ils amount can be measured reliably. legacy in¢ome 1$ r¢cognised when receipt is probable and enlitlemenl is established. Income from donated goods 1$ measured at the fair valu8 of the goods unless this Is impractical lo measure rellably, In whlch ¢ase the value is derived from the cost lo the donor or the esllmaled resale value. Donated f8cililies and servi¢es are re¢ognistsd in the a¢¢ounls when recelved If the valua can be rellably measLJred. No amounts are included for the contribution of general volunteers. Inoome from contracts for th& supply of servlces ig recognlseé wllh the dellvery of the contracted servlce. Thls is classified as unreslricled funds unless there Is 8 ¢onlraclual requirement for It lo be spent on a particular purpose and returned if unspent, In whl¢h case it may be regarded as reslricled. Ro8ource8 èxpendod Expenditure Is recognlsed on an accruals basis as a liabilily is incurred. Expenditure includés any VAT whlch Gannol be fully recovered, and is classified under headings of the slalemenl of flnancial aGlivilles lo which It relates.. Expenditure on rai$ing funds includes the costs of all fundralsing acllvS1ies, events, non- charitable trading a¢livili95, and the sale of donated goods. Expendlture on charitable aclivllies includes all ¢osts in¢urr¢d by a Gharity in undgrlaking aclivllles that further Ils charitable alms for the benefit of its ben¢ficiarigs, including those support costs and cosls relatlng lo the governance of Ihe Charity apportioned to charitable acllvllles. Other expenditure includes all expendllure that Is nellher related lo ralslng funds for the charity nor parl of ils expenditure on charllable actlvllies. All costs are allocated lo expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly lo that activity. Shared costs 8re apportioned be￿een the activities Ihoy contribute to on a reasonable, jUst￿lable and consistent basis. Tangible as$pts Tangible assets are initially recorded at cost, and subsequently slated at cost less any accumulated depreciation and impairment losses. Any tanglble assets carried al revalued amounts are recarded al the fair value at the date of revaluatlon less any subsequent accumulated depreciation and subsequent accumulated Impairment losses. 11 DESTINY INTERNATIONAL CHRISTIAN ASSEMBLY Notes to the Financial Statements {contlnuodJ Year ended 31 December 2023 Accounting policies (Gon¢ln¢wd? Tangible a6setS Icontlnuodj An increase in the carTrTng ?rnounl of an asset as a result of a revaluation, is recognised in other re¢ognised gain$ and losses, unless It reverses a charge for impaiTmenl that has previou$ly been recognised as expenditure within the statement of financial activitie5. A decrease in the carrying amount of an asset as a result of revaluation, is re¢ognised in other recognised gains and losses, except lo which il offse15 any previous revaluation gain, in which case the Ioss is shown within other recognised gains and losses on Ihe statement of fin$n¢ial a¢livilies. Depreciation Depreciation is calculated so as lo wrlte off the cost or valuallon of an asset, less 118 resldual value, over the useful economic life of that asset as follow$'. Fixtures and fillings Motor vehicles 180h reducing balance 180h r6ducing balance Investments Unlisted aqully Investments are initially rèeorded al cost, and subSeq￿entlY measured at fair value. If falr value cannot be reliably measuied, assets are measured al Gosl less impalrmenl. Listed Inve$tmenl$ ar& measured al falr value wllh changes In falr value belng re¢ogni$ed In Income or expendllure. Investment property Inveslmenl propgrly is inlllally recorded at cost, whlch Includes purchase prlce ar¢d any dlreclly allribulable expenditure. Investment properly is revalued lo 118 fair value al each reporting date and any changes In fair value are recognised in Income or expenditure. If a reliable measure of falr value Is no longer available without undue cost or effort for an item of investment property. 51 shall be transferred lo langlble assets and Irealed as such until 11 Is expected that fair value will be reliably measurable on an on-golng basis. Impalrmènt of flxèd assèts A roview for indicators of impairment Is carrled out al each reporting dale, wllh the recoverable amount being eslimaled where such indicators exist. Where the carrying value exceeds the recov8rablg amount, the asset is impaired accordingly. Prior Imp8irm8nls are also reviewed for possible reversal al each Ieporling dale. For the purposes of impairment lesling, when il Is not possible lo estimate the recoverable amount of an individual asset, an estimate Is made of the recoverable amount of the cash- generating unit to which the asset belongs. The cash-generaling unil is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. 12 DESTINY INTERNATIONAL CHRISTIAN ASSEMBLY Notes to the Financial Statements fconrlnuodl Year ended 31 December 2023 Accounting policies (contlnu8dJ Impairmgnt of fixed assats lttontinuedj For impairment testing of goodwill, the go￿WIll acquired in a busines8 combination is, from the acquisition dale, allocated lo each of the cash-generaling units that are expected to bengfil from the synergies of the combination. irrespective of whether other assets or liabiliti88 of the charity are assigned lo those units. D￿Ined contributlon plans Contributions to defined contribution plans are recognised as an expense in the period in which the Telaled service 15 provided. Prepaid contributions are recognised as an asset lo the exlenl that the pr9paymenl will lead lo a reduction in future payments or a cash refund. When contributions are not expeeled lo be sellled wholly within 12 months of the end of the reporllng dale in which Ihe employees render the related service, the Ilabillly Is measuied on a dlscounted present valua basls. The unwindlng of Ihe dlscount Is recognised as an expense In the perlod In whlch11 arlses. Donatlons and legacles Unrastricled Funds Reslrlcled Total Funds Funds 2023 Donatlons Donations Gift Aid Clalms Grfl Aid Donations Building Fund 207,807 46,405 1,497 81,079 288,886 46,4D5 1,497 30,122 30,122 255,709 111.201 366,910 Unre51ricled Funds Reslrloled Total Funds Funds 2022 Donatlons Donations Gift Aid Claims Grfl Aid Donations Building Fund 126,496 85,177 4,520 70,262 196,757 85,177 4,520 36,308 36,308 216,193 106,570 322.762 Other tradlng actlvltles Resfri¢led Total Funds Funés 2023 Restricted Total Funds Fund5 2022 Bookshop incomg Rental income 840 12,800 13,640 840 12,800 13,640 9,600 9,600 9,600 9,600 13 DESTINY INTERNATIONAL CHRISTIAN ASSEMBLY Notes to the Financial Statements (corttrnuedj Year ended 31 December 2023 Investment income Unreslricled Funds Restricted Total Funds Fund5 2023 Bank interest receivable 3,270 4,309 7,580 Unre81ricled Funds Reslricled Total Fund$ Funds 2022 Bank interest receivabl8 692 226 918 Costs of ralslng donatlons and lagacl Unreslricl8d Fur¢ds Reslriclgd Total Fund¥ Fund$ 2023 Costs of ralsing donations and legacles Costs of ralsing donations and legacles Coslg of ralsing donations and18gacles 164,808 26,451 4,368 195,625 164,808 24,514 4,368 193.688 11,9371 11,9371 Unreslrlcled Funds Reslricled Total Funds Funds 2022 Cos18 of raising donallons and legacies Costs of raising donations and legacies Costs of raising donations and le9acie$ 169,476 19.171 4,342 169,476 21,171 4,342 2,000 192.989 2,000 194,989 Exp•ndSture on charltablè actlvltlès by fund typ8 Unreslrlcled Funds Reslricled Total Funds Funds 2023 Support costs 2,311 2.277 4,590 Unreslrlcled Funds Restricted Total Funds Funds 2022 Support costs 2,163 1,960 4,121 14 DESTINY INTERNATIONAL CHRISTIAN ASSEMBLY Notes to the Flnanclal Statements (contfnuedl Year ended 31 December 2023 Expenditure on charitable activities by activity type Total funds 2023 Total fund 2022 Support costs Bank Charges Fees 2,588 2,000 2,588 2,000 2,323 1,800 4.588 4.588 4,123 10. N•t Incoma Net in¢om¢ is slated after chargingl(credilingl'. 2023 2022 Depreciation of langibla fixed as$els 3,365 4,104 11, Indopondgnt axamlnatlon f•os 2023 2022 Fees payable to the independent examlner for.. Independent examination of the flnanclal slalemenls 2,000 1,800 12. Staff c08ts The lolal $laff ¢osl$ and employ$e benefits for the reporting period ar¢ analysed as follows.. 2023 2022 Wage8 and salarles Social securily costs Employer contributions lo peAslon plans 73,000 2,563 2,037 77,600 73,000 3,981 1,880 78,861 The average head counl of employees durlng the year was 3 {2022'. 31. No employee received employee benefits of more than £60,000 during the year12022'. NIII. Key Management Personnel Key management personnel include all persons Ihal have authority and responsibility for planning, directing and controlling the activities of the charity. The lolal compensation paid lo key management personnel for services provided lo the charity was £73,00012022-.£73,0001. DESTINY INTERNATIONAL CHRISTIAN ASSEMBLY Notes to the Financial Statements (contlnued) Year ended 31 December 2023 13. Trusteg remun8ratlon and expgnses During th6 year the charity made the following transactions wslh trustees.. The Trustees Pastor Preowei Ovia recived a salaryof £39,999. Pastor Tirba Ovia also recelved a salary of £33,000. No other persons connected lo the trustee5 have received any reimbursed expenses or any other benefits from the charity during the year. 14. Tangible flxed assets Freehold Flxtures and property filllngs Motor vehicles Total Cost At l Januory 2023 and 31 December 2023 40,644 69.960 4.903 115.507 Depreclatlon Al 1 January 2023 Charge for the year At 31 Dgcembgr 2023 51,264 3,365 4.903 56.167 3,365 54,629 4,903 59.532 Carrylng amount At 31 December 2023 40,644 40,644 1 S,331 18,696 55,975 Al 31 December 2022 59,340 15. Inv&stmont$ Inv6stm6nt propertlès Cost or valuatlon Al 1 January 2023 Additions 44,200 44,200 At 31 December 2023 Impalrmènt At 1 January 2023 and 31 Décèmbèr 2023 Carrying amount At 31 December 2023 44,200 Al 31 December 2022 All inveslmenls shown above are held al valuation. 16 DESTINY INTERNATIONAL CHRISTIAN ASSEMBLY Notes to the Financial Statements (contlnusdj Year ended 31 December 2023 16. Investments 2023 2022 Other Investments Olher Investments - Long term 2,800 27,500 30,300 2,800 27,500 30,300 17. Creditors: amounts falling due within one year 2023 2022 Trade creditors Accruals and deferred income Social security and other tsxes 161 2,000 3.294 4,584 1,128 2,161 9,006 18. Penslons and other post retlrement benaflts Deflned contrlbutlon plan8 The amount recognlsed In Income or expendllure as an expense In relallon lo deflned contribution plans was £2.03712022'. £1,880). 19. Anal￿1$ of charStable funds Unre8trlctod fund$ Al 1 January 202 At 31 Decgmber 2023 Income Expenditure General funds 1,027,495 258,979 (197,936) 1,088.538 Al 1 January 202 Al 31 December 2022 Income Expenditure General funds 893,325 216,885 {195,1521 915,058 17 DESTINY INTERNATIONAL CHRISTIAN ASSEMBLY Notes to the Flnanclal Statements (¢ontlfftJued) Year ended 31 December 2023 19. Analysis of charitablo funds (contlnuedl Rèstricted funds At 31 Dgcember 2023 At 1 January 2023 Income Expenditure Resliicled Fund 266,172 129,150 13401 394.982 Al 31 December 2022 Al 1 January 2022 Income Expenditure Reslrlcled Fund 266,172 116,396 {3,9601 378,e08 18