**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 2023** ## **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 2023** |||**Page**|| |---|---|---|---| |**Report of the Trustees**||1|| |**Independent Examiner's Report**||2|| |**Statement of Financial Activities**||3|| |**Balance Sheet**|4|to|5| |**Notes to the Financial Statements**|6|to|10| |**Detailed Statement of Financial Activities**||11|| **CHRIST'S CHOSEN CHURCH OF GOD** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023** 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 2023. 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** Sr Apo D Ikhuiwu Clergy Pastor T O Agbonifo Clergy (resigned 27.2.23) Elder O Enabulele Accountant (resigned 7.8.23) Ms R U Eze Nurse (resigned 7.8.23) Most Snr D Ikhuiwu Minister Of Religion Pastor C Irabor Clergy (appointed 27.7.23) M Irughe Clergy (appointed 15.9.23) Elder J E Onaifo Civil Enforcement Officer Elder J B Ossai Bus Driver ## **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 5 August 2024 and signed on its behalf by: B Osawe - Secretary Page 1 **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 2023. ## **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: 1. 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 3. 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 4. 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 5 August 2024 Page 2 **CHRIST'S CHOSEN CHURCH OF GOD** ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023** |||**31.12.23**|31.12.22| |---|---|---|---| |||**Unrestricted**|Total| |||**fund**|funds| ||Notes|**£**|£| |**INCOME AND ENDOWMENTS FROM**|||| |Donations and legacies||**172,826**|143,197| |**EXPENDITURE ON**|||| |Raising funds||**59,084**|52,883| |**Charitable activities**|||| |Charitable||**159,908**|117,319| |**Total**||**218,992**|170,202| |**NET INCOME/(EXPENDITURE)**||**(46,166)**|(27,005)| |**RECONCILIATION OF FUNDS**|||| |Total funds brought forward||**194,905**|221,910| |**TOTAL FUNDS CARRIED FORWARD**||**148,739**|194,905| The notes form part of these financial statements Page 3 **CHRIST'S CHOSEN CHURCH OF GOD** ## **BALANCE SHEET** ## **31 DECEMBER 2023** |**31.12.23**
**Unrestricted**
**fund**
Notes
**£**
**FIXED ASSETS**
Tangible assets
6
**145,911**
**CURRENT ASSETS**
Debtors
7
**18,833**
Cash at bank
**6,802**
**25,635**
**CREDITORS**
Amounts falling due within one year
8
**(22,807)**
**NET CURRENT ASSETS**
**2,828**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**148,739**
**NET ASSETS**
**148,739**
**FUNDS**
10
Unrestricted funds
**148,739**
**TOTAL FUNDS**
**148,739**|31.12.22
Total
funds
£
145,859
11,083
60,770
71,853
(22,807)
49,046
194,905
194,905
194,905
194,905| |---|---| The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023. The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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 continued... Page 4 **CHRIST'S CHOSEN CHURCH OF GOD** ## **BALANCE SHEET - continued 31 DECEMBER 2023** 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 5 August 2024 and were signed on its behalf by: B Osawe - Trustee The notes form part of these financial statements Page 5 **CHRIST'S CHOSEN CHURCH OF GOD** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023** ## **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. Page 6 continued... **CHRIST'S CHOSEN CHURCH OF GOD** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023** ## **2. NET INCOME/(EXPENDITURE)** Net income/(expenditure) is stated after charging/(crediting): ||**31.12.23**|31.12.22| |---|---|---| ||**£**|£| |Depreciation - owned assets|**228**|214| |Rent|**53,667**|50,567| ## **3. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022. ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022. ## **4. STAFF COSTS** The average monthly number of employees during the year was as follows: ||**31.12.23**|31.12.22| |---|---|---| |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||143,197| |**EXPENDITURE ON**||| |Raising funds||52,883| |**Charitable activities**||| |Charitable||117,319| |**Total**||170,202| |**NET INCOME/(EXPENDITURE)**||(27,005)| |**RECONCILIATION OF FUNDS**||| |Total funds brought forward||221,910| |**TOTAL FUNDS CARRIED FORWARD**||194,905| ## **5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES** continued... Page 7 **CHRIST'S CHOSEN CHURCH OF GOD** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023** ## **6. TANGIBLE FIXED ASSETS** |Freehold
Plant and
property
machinery
£
£
**COST**
At 1 January 2023
**145,000**
**20,820**
Additions
**-**
**-**
At 31 December 2023
**145,000**
**20,820**
**DEPRECIATION**
At 1 January 2023
**-**
**20,726**
Charge for year
**-**
**19**
At 31 December 2023
**-**
**20,745**
**NET BOOK VALUE**
At 31 December 2023
**145,000**
**75**
At 31 December 2022
145,000
94
**7.**
**DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR**
Lease Rent Deposit
**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|Fixtures
and
fittings
£
**2,700**
**280**
**2,980**
**1,935**
**209**
**2,144**
**836**
765
**31.12.23**
**£**
**18,833**
**31.12.23**
**£**
**22,357**
**450**
**22,807**
**31.12.23**
**£**
**22,357**|Totals
£
**168,520**
**280**| |---|---|---| |||**168,800**| |||**22,661**
**228**| |||**22,889**| |||**145,911**| |||145,859| |||31.12.22
£
11,083
31.12.22
£
22,357
450
22,807
31.12.22
£
22,357| continued... Page 8 **CHRIST'S CHOSEN CHURCH OF GOD** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023** ## **10. MOVEMENT IN FUNDS** |At 1.1.23
£
**Unrestricted funds**
General fund
**194,905**
**TOTAL FUNDS**
**194,905**
Net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
**172,826**
**TOTAL FUNDS**
**172,826**
**Comparatives for movement in funds**
At 1.1.22
£
**Unrestricted funds**
General fund
221,910
**TOTAL FUNDS**
221,910
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
143,197
**TOTAL FUNDS**
143,197|Net
movement
At
in funds
31.12.23
£
£
**(46,166)**
**148,739**
**(46,166)**
**148,739**
Resources
Movement
expended
in funds
£
£
**(218,992)**
**(46,166)**
**(218,992)**
**(46,166)**
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... Page 9 **CHRIST'S CHOSEN CHURCH OF GOD** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023** ## **10. MOVEMENT IN FUNDS - continued** A current year 12 months and prior year 12 months combined position is as follows: |**Unrestricted funds**
General fund
**TOTAL FUNDS**|At 1.1.22
£
221,910
221,910|Net
movement
in funds
£
(73,171)
(73,171)|At
31.12.23
£
148,739| |---|---|---|---| ||||148,739| 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
£
316,023
316,023|Resources
Movement
expended
in funds
£
£
(389,194)
(73,171)
(389,194)
(73,171)|Resources
Movement
expended
in funds
£
£
(389,194)
(73,171)
(389,194)
(73,171)| |---|---|---|---| ||||(73,171)| ## **11. RELATED PARTY DISCLOSURES** There were no related party transactions for the year ended 31 December 2023. Page 10 **CHRIST'S CHOSEN CHURCH OF GOD** ## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023** ||31.12.23|31.12.22| |---|---|---| ||£|£| |**INCOME AND ENDOWMENTS**||| |**Donations and legacies**||| |Donations|**165,482**|121,691| |Gift aid|**7,344**|21,506| ||**172,826**|143,197| |**Total incoming resources**|**172,826**|143,197| |**EXPENDITURE**||| |**Raising donations and legacies**||| |Rent|**53,667**|50,567| |Rates and water|**184**|2,316| |Light and heat|**5,233**|-| ||**59,084**|52,883| |**Charitable activities**||| |Wages|**90,048**|39,844| |Social security|**9,700**|-| |Pensions|**3,953**|2,742| |Insurance|**1,808**|687| |Telephone|**2,642**|2,318| |Advertising|**664**|939| |Evangelical expenses|**29,669**|60,451| |International conference|**2,057**|-| |Help to members|**4,590**|-| |Home Office fees|**7,830**|9,186| |Plant and machinery|**19**|23| |Fixtures and fittings|**209**|191| ||**153,189**|116,381| |**Support costs**||| |**Information technology**||| |Repairs and renewals|**6,219**|438| |**Governance costs**||| |Accountancy and legal fees|**500**|500| |Total resources expended|**218,992**|170,202| |**Net expenditure**|**(46,166)**|(27,005)| This page does not form part of the statutory financial statements Page 11