REGISTERED COMPANY NUMBER: 06654376 (England and Wales) REGISTERED CHARITY NUMBER: 1125499
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
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 2022
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | to | 6 |
| Notes to the Financial Statements | 7 | to | 12 |
| Detailed Statement of Financial Activities | 13 |
CHRIST'S CHOSEN CHURCH OF GOD
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2022. The trustees have adopted the provisions of 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) (effective 1 January 2019).
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number 06654376 (England and Wales)
Registered Charity number
1125499
Registered office
43-45 North Street Cheetham Hill Manchester M8 8RE
Trustees
Pastor T O Agbonifo (resigned 27.2.23) Elder O Enabulele (resigned 7.8.23) Ms R U Eze (resigned 7.8.23) Most Snr D Ikhuiwu Sn Apostle J Onaghise (resigned 5.8.22) Elder J E Onaifo Elder J B Ossai B Osawe Pastor C Irabor (appointed 27.7.23)
Company Secretary
B Osawe
Independent Examiner
Appiatse & Associates Chartered Certified Accountants 191 Waltham Way Chingford London E4 8AG
Approved by order of the board of trustees on 22 September 2023 and signed on its behalf by:
Page 1
CHRIST'S CHOSEN CHURCH OF GOD
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022
B Osawe - Secretary
Page 2
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CHRIST'S CHOSEN CHURCH OF GOD
Independent examiner's report to the trustees of Christ's Chosen Church of God ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2022.
Responsibilities and basis of report
As the charity's trustees of the Company (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 the Company 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 the Company as required by Section 386 of the 2006 Act; or 2. 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.
Ekow Appiatse
Appiatse & Associates Chartered Certified Accountants 191 Waltham Way Chingford London E4 8AG
22 September 2023
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CHRIST'S CHOSEN CHURCH OF GOD
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022
| 31.12.22 | 31.12.21 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||
| Donations and legacies | 143,197 | 136,132 | |
| EXPENDITURE ON | |||
| Raising funds | 52,883 | 49,953 | |
| Charitable activities | |||
| Charitable | 117,319 | 78,269 | |
| Total | 170,202 | 128,222 | |
| NET INCOME/(EXPENDITURE) | (27,005) | 7,910 | |
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | 221,910 | 214,000 | |
| TOTAL FUNDS CARRIED FORWARD | 194,905 | 221,910 |
The notes form part of these financial statements
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CHRIST'S CHOSEN CHURCH OF GOD
BALANCE SHEET 31 DECEMBER 2022
| 31.12.22 Unrestricted fund Notes £ FIXED ASSETS Tangible assets 6 145,859 CURRENT ASSETS Debtors 7 11,083 Cash at bank 60,770 71,853 CREDITORS Amounts falling due within one year 8 (22,807) NET CURRENT ASSETS 49,046 TOTAL ASSETS LESS CURRENT LIABILITIES 194,905 NET ASSETS 194,905 FUNDS 10 Unrestricted funds 194,905 TOTAL FUNDS 194,905 |
31.12.21 Total funds £ 146,073 - 98,644 98,644 (22,807) 75,837 221,910 221,910 221,910 221,910 |
|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that 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 charitable company as at the end of each financial year and of its surplus or deficit 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 charitable company.
The notes form part of these financial statements
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continued...
CHRIST'S CHOSEN CHURCH OF GOD
BALANCE SHEET - continued
31 DECEMBER 2022
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 22 September 2023 and were signed on its behalf by:
B Osawe - Trustee
The notes form part of these financial statements
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CHRIST'S CHOSEN CHURCH OF GOD
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
- Fixtures and fittings - 20% on reducing balance
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.
Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
continued...
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CHRIST'S CHOSEN CHURCH OF GOD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022
2. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
| 31.12.22 | 31.12.21 | |
|---|---|---|
| £ | £ | |
| Depreciation - owned assets | 214 | 296 |
| Rent | 50,567 | 40,767 |
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2022 nor for the year ended 31 December 2021.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2022 nor for the year ended 31 December 2021.
4. STAFF COSTS
The average monthly number of employees during the year was as follows:
| 31.12.22 | 31.12.21 | |
|---|---|---|
| Pastors | 3 | 3 |
| No employees received emoluments in excess of £60,000. | ||
| COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES | ||
| Unrestricted | ||
| fund | ||
| £ | ||
| INCOME AND ENDOWMENTS FROM | ||
| Donations and legacies | 136,132 | |
| EXPENDITURE ON | ||
| Raising funds | 49,953 | |
| Charitable activities | ||
| Charitable | 78,269 | |
| Total | 128,222 | |
| NET INCOME | 7,910 |
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
continued...
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CHRIST'S CHOSEN CHURCH OF GOD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
| RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD 6. TANGIBLE FIXED ASSETS Freehold Plant and property machinery £ £ COST At 1 January 2022 and 31 December 2022 145,000 20,820 DEPRECIATION At 1 January 2022 - 20,703 Charge for year - 23 At 31 December 2022 - 20,726 NET BOOK VALUE At 31 December 2022 145,000 94 At 31 December 2021 145,000 117 7. DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR Lease Rent Deposit |
Unrestricted fund £ 214,000 221,910 Fixtures and fittings Totals £ £ 2,700 168,520 1,744 22,447 191 214 1,935 22,661 765 145,859 956 146,073 31.12.22 31.12.21 £ £ 11,083 - |
|---|---|
continued...
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CHRIST'S CHOSEN CHURCH OF GOD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022
| 8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other loans (see note 9) Accrued expenses 9. LOANS An analysis of the maturity of loans is given below: Amounts falling due within one year on demand: Other loans 10. MOVEMENT IN FUNDS Unrestricted funds General fund TOTAL FUNDS Net movement in funds, included in the above are as follows: Unrestricted funds General fund TOTAL FUNDS |
At 1.1.22 £ 221,910 221,910 Incoming resources £ 143,197 143,197 |
31.12.22 31.12.21 £ £ 22,357 22,357 450 450 22,807 22,807 31.12.22 31.12.21 £ £ 22,357 22,357 Net movement At in funds 31.12.22 £ £ (27,005) 194,905 (27,005) 194,905 Resources Movement expended in funds £ £ (170,202) (27,005) (170,202) (27,005) |
|---|---|---|
continued...
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CHRIST'S CHOSEN CHURCH OF GOD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022
10. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| At 1.1.21 £ Unrestricted funds General fund 214,000 TOTAL FUNDS 214,000 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 136,132 TOTAL FUNDS 136,132 A current year 12 months and prior year 12 months combined position is as follows: At 1.1.21 £ Unrestricted funds General fund 214,000 TOTAL FUNDS 214,000 |
Net movement At in funds 31.12.21 £ £ 7,910 221,910 7,910 221,910 Resources Movement expended in funds £ £ (128,222) 7,910 (128,222) 7,910 Net movement At in funds 31.12.22 £ £ (19,095) 194,905 (19,095) 194,905 |
At 31.12.21 £ 221,910 |
|---|---|---|
| 221,910 | ||
| 7,910 | ||
| At 31.12.22 £ 194,905 |
||
| 194,905 |
continued...
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CHRIST'S CHOSEN CHURCH OF GOD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022
10. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 279,329 279,329 |
Resources Movement expended in funds £ £ (298,424) (19,095) (298,424) (19,095) |
|---|---|---|
11. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2022.
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CHRIST'S CHOSEN CHURCH OF GOD
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022
| 31.12.22 | 31.12.21 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 121,691 | 116,691 |
| Gift aid | 21,506 | 19,441 |
| 143,197 | 136,132 | |
| Total incoming resources | 143,197 | 136,132 |
| EXPENDITURE | ||
| Raising donations and legacies | ||
| Rent | 50,567 | 40,767 |
| Rates and water | 2,316 | 3,400 |
| Apostolic Visit | - | 5,786 |
| 52,883 | 49,953 | |
| Charitable activities | ||
| Wages | 39,844 | 33,792 |
| Pensions | 2,742 | 1,686 |
| Insurance | 687 | 284 |
| Telephone | 2,318 | 2,161 |
| Postage and stationery | - | 1,232 |
| Advertising | 939 | - |
| Evangelical expenses | 60,451 | 30,453 |
| Help to members re Covid-19 | - | 5,615 |
| Home Office fees | 9,186 | 2,102 |
| Plant and machinery | 23 | 37 |
| Fixtures and fittings | 191 | 259 |
| 116,381 | 77,621 | |
| Support costs | ||
| Information technology | ||
| Repairs and renewals | 438 | 298 |
| Governance costs | ||
| Accountancy and legal fees | 500 | 350 |
| Total resources expended | 170,202 | 128,222 |
| Net (expenditure)/income | (27,005) | 7,910 |
This page does not form part of the statutory financial statements
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