## **REPORT OF THE DIRECTORS AND**
## **UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **FOR**
## **CHRIST'S CHOSEN CHURCH OF GOD**
Appiatse & Associates Chartered Certified Accountants 191 Waltham Way Chingford London E4 8AG
**CHRIST'S CHOSEN CHURCH OF GOD**
## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
||**Page**|
|---|---|
|**Company Information**|1|
|**Report of the Directors**|2|
|**Income Statement**|3|
|**Balance Sheet**|4|
|**Notes to the Financial Statements**|5|
|**Detailed Profit and Loss Account**|7|
**CHRIST'S CHOSEN CHURCH OF GOD**
## **COMPANY INFORMATION FOR THE YEAR ENDED 31 DECEMBER 2020**
**DIRECTORS:** Mr Benson Osawe Pastor Theodore Osamiamiamwen Agbonifo Ms Rose Uloma Eze Elder Osagie Gideon Enabulele Sn Apostle Jonathan F Oyema Onaghise Elder Jeff Edosa Onaifo Elder Jacob Benson Ossai Most Snr David E O U Ikhuiwu(Jp) Deacon Justin Osamede Onaghino (JP) **SECRETARY:** Mr Benson Osawe **REGISTERED OFFICE:** 43-45 North Street Cheetham Hill Manchester M8 8RE **REGISTERED NUMBER:** 06654376 (England and Wales) **ACCOUNTANTS:** Appiatse & Associates Chartered Certified Accountants 191 Waltham Way Chingford London E4 8AG
Page 1
**CHRIST'S CHOSEN CHURCH OF GOD**
## **REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31 DECEMBER 2020**
The directors present their report with the financial statements of the company for the year ended 31 December 2020.
## **DIRECTORS**
The directors shown below have held office during the whole of the period from 1 January 2020 to the date of this report.
Mr Benson Osawe Pastor Theodore Osamiamiamwen Agbonifo Ms Rose Uloma Eze Elder Osagie Gideon Enabulele Sn Apostle Jonathan F Oyema Onaghise Elder Jeff Edosa Onaifo Elder Jacob Benson Ossai Most Snr David E O U Ikhuiwu(Jp) Deacon Justin Osamede Onaghino (JP)
This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.
## **ON BEHALF OF THE BOARD:**
........................................................................
Mr Benson Osawe - Secretary
Date: .............................................
Page 2
**CHRIST'S CHOSEN CHURCH OF GOD**
## **INCOME STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2020**
|Notes
**TURNOVER**
Administrative expenses
**OPERATING PROFIT/(LOSS) and**
**PROFIT/(LOSS) BEFORE TAXATION**
Tax on profit/(loss)
**PROFIT/(LOSS) FOR THE FINANCIAL**
**YEAR**|**31.12.20**
**£**
**166,909**
**115,624**
**51,285**
**-**
**51,285**|31.12.19
£
83,853
89,276
(5,423)
-
(5,423)|
|---|---|---|
The notes form part of these financial statements
Page 3
**CHRIST'S CHOSEN CHURCH OF GOD (REGISTERED NUMBER: 06654376)**
## **BALANCE SHEET 31 DECEMBER 2020**
|Notes
**FIXED ASSETS**
Tangible assets
5
**CURRENT ASSETS**
Cash at bank
**CREDITORS**
Amounts falling due within one year
6
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**RESERVES**
Retained earnings|**31.12.20**
**£**
**68,479**
**450**|**£**
**146,081**
**68,029**
**214,110**
**214,110**
**214,110**|31.12.19
£
16,833
450|£
146,442
16,383|
|---|---|---|---|---|
|||||162,825|
|||||162,825|
|||||162,825|
The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 in accordance with Section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for:
- (a) ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
- (b) preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the Board of Directors and authorised for issue on ............................................. and were signed on its behalf by:
........................................................................ Pastor Theodore Osamiamiamwen Agbonifo - Director
........................................................................ Mr Benson Osawe - Director
The notes form part of these financial statements
Page 4
**CHRIST'S CHOSEN CHURCH OF GOD**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## 1. **STATUTORY INFORMATION**
Christ's Chosen Church Of God is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
## 2. **ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
## **Turnover**
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - in accordance with the property Plant and machinery etc - 20% on reducing balance
## **Taxation**
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Current or deferred taxation assets and liabilities are not discounted.
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
## **Deferred tax**
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
## **Hire purchase and leasing commitments**
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.
## **Pension costs and other post-retirement benefits**
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.
## 3. **EMPLOYEES AND DIRECTORS**
The average number of employees during the year was 3 (2019 - 3).
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continued...
**CHRIST'S CHOSEN CHURCH OF GOD**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020**
## 4. **OPERATING PROFIT/(LOSS)**
The operating profit (2019 - operating loss) is stated after charging:
|**31.12.20**
**£**
Depreciation - owned assets
**361**
5.
**TANGIBLE FIXED ASSETS**
**Plant and**
**Land and**
**machinery**
**buildings**
**etc**
**£**
**£**
**COST**
At 1 January 2020
and 31 December 2020
**145,000**
**23,520**
**DEPRECIATION**
At 1 January 2020
**-**
**22,078**
Charge for year
**-**
**361**
At 31 December 2020
**-**
**22,439**
**NET BOOK VALUE**
At 31 December 2020
**145,000**
**1,081**
At 31 December 2019
145,000
1,442
6.
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
**31.12.20**
**£**
Other creditors
**450**|31.12.19
£
361
**Totals**
**£**
**168,520**|
|---|---|
||**22,078**
**361**|
||**22,439**|
||**146,081**|
||146,442|
||31.12.19
£
450|
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**CHRIST'S CHOSEN CHURCH OF GOD**
## **DETAILED PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2020**
|**Turnover**
Donations
Gift Aid
**Expenditure**
Rent
Rates and water
Wages
Pensions
Telephone
Travelling
Insurance
Repairs and renewals
Evangelical expenses
International Conference
Sundry expenses
Accountancy
Depreciation of tangible fixed assets
Plant and machinery
Fixtures and fittings
Commission paid
Advertising
Donations
**Finance costs**
Bank charges
**NET PROFIT/(LOSS)**|**31.12.20**
**£**
**93,433**
**73,476**
**41,200**
**2,406**
**21,317**
**1,260**
**1,369**
**1,522**
**290**
**534**
**18,520**
**2,066**
**1,539**
**450**
**37**
**324**
**20,341**
**949**
**1,500**|**£**
**166,909**
**115,624**
**51,285**
**-**
**51,285**|31.12.19
£
83,853
-
43,496
5,500
23,532
735
727
-
31
1,690
10,888
452
886
390
37
324
-
587
-|£
83,853
89,275
(5,422)
1
(5,423)|
|---|---|---|---|---|
This page does not form part of the statutory financial statements
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