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2021-12-31-accounts

Charity registration No. 1102347

CHRIST APOSTOLIC CHURCH

Report and Accounts

31 December 2021

CHRIST APOSTOLIC CHURCH Report and accounts Contents

Page
Administrative information 1
Trustees' report 2 - 3
Statement of Financial Activities 5
Balance sheet 6
Notes to the Financial Statements 7 - 9
(inclusive of detailed Income & Expenditure)

CHRIST APOSTOLIC CHURCH Charity Information

Trustees

Pastor Adelani Awe Pastor Elijah Afolabi Pastor Olusegun Oladipupo

Accountants

LEMO COPORATE CHARTERED CERTIFIED ACCOIUNTANTS 815 OLD KENT ROAD Chatham SE15 1NX

Bankers

HSBC

Registered office

14 Bright Road Chatham Kent ME4 5HH

Registered Charity number

1124874

1

CHRIST APOSTOLIC CHURCH Trustees' Report

The trustees present their financial statements for the year ended 31 December 2020

The Trustees presented their report along with the financial statement of the charity for the year ended 31 December 2020. The financial statements have been prepared on the accounting policies set out in note 1 to 3. The financial statements comply with the charity's constitution applicable law and requirements of the Statement of Recommended Practice (SORP 2005) "accounting and reporting by charities".

OBJECTIVES and ACTIVITIES

The Board of Trustees has considered the Charity Commission’s guidance on public interest benefit in the principal activities of the church. In the year under review, the church encourages and welcomes members of the community to live out their faith by providing a place of worship and fellowship. It offers various community events and activities to facilitate relief for persons in condition of need, hardship or distress by demonstrating the love and spiritual power of our Lord Jesus Christ through: ministerial outreach, relevant practical helps, community education, musical concerts, youth mentoring, bible teaching, worship and fellowship.

Organisation and Structure

This is carried-out by the Trustees, and members of the church who are volunteers. The day-to-day administration is carried out by appointed trustees and members on voluntary basis.

Risk Management

The Trustees are aware of the major risks to which the churches is exposed and consider that, having regard to the scale and nature of its operations, the current system of controls is effective, taking into consideration the following:

  1. Health and safety policy is being reviewed in line with changes in regulations

  2. A Child protection policy has been developed and adopted by the church

Internal Financial Controls

The system of Internal Financial Control is designed to provide reasonable assurance against material misstatement or loss of funds. They include:

  1. Annual consideration of financial results by trustees and presentation of annual reports to church members

  2. Delegation of authority and segregation of duties.

Volunteers

Throughout the year, the trustees of the church have given their services on a voluntary basis towards achieving the objectives of the church. The church is grateful for the sacrificial contribution of time and effort from all its trustees and other volunteers who are not Trustees of the church .

TRUSTEES

The trustees during the year under review were:

Pastor Adelani Awe Pastor Elijah Afolabi Pastor Olusegun Oladipupo

2

Statement of Trustee Responsibilities

The Trustees are required to prepare financial statements that give a true and fair view of the state of affairs of the organization and of the income and expenditure of the project for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping proper records that disclose at any time the financial position of the project. They are also responsible for safe guarding the assets of the organization and hence for taking reasonable steps for the prevention and detention of fraud and other irregularities.

adelaniawe

ADELANI AWE

Chairman

Board of Trustees Date 31/10/2022

3

CHRIST APOSTOLIC CHURCH

INDEPENDENT EXAMINERS' REPORT TO THE

TRUSTEES OF WORD FOUNTAIN CHRISTIAN MINISTRIES ON THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2020

We report on the accounts for the year ended 31 December 2021, which are set out on pages 5 to 9.

Respective responsibilities of trustees and examiner

The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 and t that an independent examination is needed.

It is my responsibility to:

Basis of independent examiner’s 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 presented with those records.

It also includes consideration of any unusual items or disclosures in the

accounts, and seeking explanations from you as trustees concerning any such matters.

The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below.

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

…AJIBOLA LEMO

Mr. Ajibola Lemo (FCCA, MSc)

LEMO CORPORATE Date: 31 10. 2022

4

CHRIST APOSTOLIC CHURCH Profit and Loss Account for the year ended 31 December 2021

Notes
Income (Tithes, Offering & donations)
Administrative expenses
Operating profit
2
Profit on ordinary activities before taxation
Tax on profit on ordinary activities
Profit for the financial year		 2021
2020
£
£
38,316
34,651
(17,114)
(17,480)
21,202
17,171
21,202
17,171
-
21,202
17,171

5

CHRIST APOSTOLIC CHURCH

Statement of Financial Activities for the year ended 31 December 2021

Notes
Income Resources
Tithes, offerings and thanksgiving
6.1
Building Fund
Grants & donations
Others
Bank interest
Total Income Resources
Resources Expended
Support costs of activities in
furtherance of the charity's objects
6.2
Management & Administration
of Charity
6.3
Total Income Expended
Net incoming/(outgoing) resources
Net Movements in Funds
Fund balances b/fwd
Funds balances c/fwd		 Notes Unrestricted
£
34,946
1,220
-
2,150
-
38,316
4,248
12,866
17,114
21,202
21,202
54,226
75,428		 Restricted
£
0
-
-
-
-
-
-
-		 2021
Total
Fund
£
34,946
1,220
-
2,150
-		 2020
Total
Fund
£
31,531
1,120
2,000
38,316 34,651
4,248
12,866
17,114
21,202
21,202
54,226
75,428		 4,835
12,645
17,480
17,171
17,171
37,055
54,226

6

CHRIST APOSTOLIC CHURCH Balance Sheet as at 31 December 2021

Notes
£
Intangible assets
Fixed Assets
3
Current assets
Cash at bank and in hand
70,416
70,416
Creditors: amounts falling due
within one year
-
Net current assets
Total assets less current liabilities
Net assets
Unrestricted Funds
Unrestricted Funds
5
Restricted and Unrestricted Funds c/fwd.		 £
70,416		 2021
2020
£
£
£
5,012
5,657
5,012
5,657
48,569
48,569
70,416
48,569
75,428
54,226
75,428
54,226
75,428
54,226
75,428
54,226
70,416
-

adelaniawe

ADELANI AWE Chairman Board of Trustees Date 31/10/2022

7

CHRIST APOSTOLIC CHURCH Notes to the Accounts for the year ended 31 December 2021

1 Accounting policies

Basis of preparation

The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Incoming Resources

Income is mainly from Tithes, offering & building pledges and bank interest received are included in the financial statements when received.

Resources Expended

All expenditure is accounted for on an accrual basis and has been classified under headings that aggregate all costs related to the category.

Taxation

As a charity, the charitable funds are exempt from corporation tax but not from VAT. Irrecoverable VAT is, in accordance with standard accounting practice, included in the cost of those items to which it relates.

Depreciation

Depreciation has been provided at the following rates in order to write off the assets on the redusing balance of each asset.

2
Net funds for the year
This is stated after charging:
Depreciation of owned fixed assets
3
Tangible fixed assets
Cost
At 1 January 2021
Additions
At 31 December 2021
Depreciation
At 1 January 2021
Charge for the year
At 31 December 2021
Net book value
At 31 December 2021
At 31 December 2018
4
Funds
Unrestricted
£
At 1 January 2021
54,226
Net Movements in Funds
21,202
At 31 December 2021
75,428		 Musical
Equipment
£
10,581
-
10,581
6,068
395
6,463
4,118
4,513
Restricted
£
-
-		 £
645
Furniture &
fittings
Total
£
£
4,123
14,704
-
4,123
14,704
2,979
9,047
250
645
3,229
9,692
894
5,012
1,144
5,657
2021
2020
£
£
54,226
37,055
21,202
17,171
75,428
54,226

8

CHRIST APOSTOLIC CHURCH

Notes to the accounts (continued)

6 Detailed Income and Expenditure Account for the year ended 31 December 2021

6 Detailed Income and Expenditure Account
for the year ended 31 December 2021
6.1 INCOMING RESOURCES
Tithes, offering and thanksgiving
Building
Grans & donations
Other Income
Bank interest received
Total Incoming Resources		 2021
2020
Unrestricted
Restricted
Total fund
Total fund
£
£
£
£
34,946
34,946
31,531
1,220
1,220
1,120
-
2,150
2,150
2,000
-
38,316
-
38,316
34,651

OUTGOING RESOURCES

6.2 Support costs of activities in furtherance of
the Charity's objects:
Honorarium
Donations & Welfare
Missionary
Children, youth
Holy Communion
Family Arena
Evangelical/outreach materials
Books, DVD etc
Members' welfare and training
6.3 Management and Administration of Charity:
Rent of Church hall
Rate
Travelling and subsistence
Telephone
Waste disposal
Training & seminar
Stationeries, printing
Light
Bank charges
Repairs & maintenance
Advertising & publicity
Accountancy fees
Professional and other legal fees
Depreciation charge		 -
-
-
-
-
3,000
3,000
3,500
-
-
38
38
80
-
-
750
750
1,105
-
-
460
460
150
4,248
-
4,248
4,835
12,000
12,000
12,000
0
0
0
0
-
0
-
0
-
0
-
0
-
0
221
221
-
-
0
-
0
-
-
0
-
0
645
645
645
12,866
-
12,866
12,645

9

CHRIST APOSTOLIC CHURCH Profit and Loss Account for the year ended 31 December 2021

for the information of the directors only

Income (Tithes, Offering & donations)
Cost of sales
Gross profit
Distribution costs
Administrative expenses
Other operating income
Operating profit
Profit before tax		 2021
2020
£
£
38,316
34,651
-
38,316
34,651
-
(17,114)
(17,480)
-
21,202
17,171
21,202
17,171

10

CHRIST APOSTOLIC CHURCH Schedule to the Profit and Loss Account for the year ended 31 December 2021

for the information of the directors only

Income
Tithes, offerings & thanksgiving
Administrative expenses
Employee costs:
Honorarium
Members' training and welfare
Premises costs:
Rent
Rates
General administrative expenses:
Missionery
Stationery and printing
Evangelical materials & Christian Literatures
Depreciation
Legal and professional costs:
Advertising and PR		 2021
2020
£
£
38,316
34,651
-
-
460
150
460
150
12,000
12,000
-
-
12,000
12,000
3,000
3,500
-
-
750
1,105
645
645
4,654
5,330
-
-
-
-
17,114
17,480

11