Charity number: 1126210 CHRIST AMBASSADORS MINISTRIES FINANCIAL STATEMENTS YEAR ENDED 31 MAY 2022 LUBBOCK FINE LLP Chartered Accountants Paternoster House 65 St Paul's Churchyard London EC4M 8AB
CHRIST AMBASSADORS MINISTRIES CONTENTS Page Reference and Admlnlstratlve Detalls of the Charlty, Its Trustees and Advlsers Trustees. Report Independent Examiner's Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements 7-14
CHRIST AMBASSADORS MINISTRIES REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MAY 2022 Trustees Benson Eboh-Abohi Eartha Charmaine Goldstone Stella Crisp Charity registered number 1126210 Principal office 14 Lytton Avenue Enfield Middlesex EN3 6EN Bankers Barclays Bank PIC Independent Examiner Lee Facey Lubbock Fine LLP Chartered Accountants 3rd Floor Paternoster House 65 Sl Paul's Churchyard London EC4M 8AB Page 1
CHRIST AMBASSADORS MINISTRIES TRUSTEES REPORT FOR THE YEAR ENDED 31 MAY 2022 The Trustees present their annual report together with the financial ststemenls of Christ Ambassadors Ministries for the year ended 31 May 2022. The Trustees confirm that the Annual Report and the financial slalements of the Charity comply with the current slatulory requirements, the requirements of the Charity's governing document and the provisions of the Statement of Recommended Practice ISORPI, applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 20191. structure. governance and management Christ Ambassadors Ministries is an unincorporated registered charity, governed by ils constitution adopted on 26 September 2008 and updated on 1 May 2021 and is managed by ils Trustees. The Trustees continuously review their competencies and are conscious of the need lo maintain a balance of skills. Periodically, additional members may be Invited lo become Trustees and this would involve a careful vetting process by the current Trustees to ensure any new member is aware of hislher responsibilities towards the Charity. New Trustees would be briefed on their legal obligations under charity law, the Content of the governing document, the decision making processes and the recent financial performance of the Charity. Trustees The Trustees who served during the year were". Benson Eboh-Abohi Eartha Charmaine Goldstone Stella Crisp lappointed 151 December 20221 Objectlves and Actlvltles The objectives of the Charity are lo advance the Christian Faith in accordance with the mission statement and the advancement of charitable purposes as the Trustees shall from time lo lime decide. In setting the objectives and planning the activity of the Charity, the Trustees have given careful consideration to the Charity Commission's general guidance on public benefit. Achievements and performance The objectives of Christ Ambassadors Ministries have been accomplished during the year by.. Promoting the Christian faith and providing spiritual development through church services, outreaches and using media channels including Zoom and YouTube. Purchasing equipment so we could live stream our Sunday ServIS for the vulnerable thatwere unable lo attend the Sunday services in the community hall during the pandemic. Continuing lo provide spiritual support to church members by holding prayer meetings and online bible studies, in addition to our weekly Sunday servIs. Continuing lo provide support lo the members of the church who were facing challenging situations and having difficult times. This includes providing professional Christian counsellors lo help with mentsl health and wellbeing. Providing Christian literature and free bibles to the community. Setting up a building fund and a committee with an aim to secure our own building to accommodate the increase in number of people allending worship services. Providing transport for those who need transport to church. Providing support and spiritual development for the youth and children in the community by having bi-weekly and weekly meetings. Page 2
CHRIST AMBASSADORS MINISTRIES TRUSTEES REPORT FOR THE YEAR ENDED 31 MAY 2022 Continuing lo provide spiritual and financial support for widows, families and single parents who were undergoing financial hardship. Supporting spiritually and financially church members who are getting married and those bereaved. Purchasing Christmas presents for all the residents of the elderly care home. Financial review During the year, the charity generated a surplus of £62,66012021- £74,632). Surpluses generated are earried forward for use in future periods in the furtherance of the Charity's objectives. Reserves policy The charity held unreslricled resetves of £347,08012021- £292,669) as al 31 May 2022. After making allowances for funds that can only be realised by disposing of fixed assets, free reserves stood al £341,174. The charity aims to maintsin reserves to help sustain and support future outreaches. The current level of reserves are sufficient to enable the charity lo continue to carry out ils charitable aclivilies. The charity held restricted reserves of £15,98412021 £7,735). Plans for the future During the coming year, the organisation will seek lo develop the work of the ministries further and specifically focus on.. Continuing with the above aclivilies. Increasing the number of people who make commitment to follow the teachings of our Lord Jesus Christ as revealed in the Holy Bible. Increasing the number of trLJStees and volunteers to support the leadership team SPonSible for leading the various church departments. Ensuring our weekly services and all the children and young people's activities are held in a secure and safe environment. Continuing lo work with the Church building committee to progress our plans to secure our own building with bigger and better facilities than the community hall currently being used. Resuming meeting with the women in the community to provide spiritual support and promote social relations. Organising a fun day for the families and children in the community. Increasing the outreach work in the community. Organising an outreach to the community by providing food lo the homeless and those in need. We could not do this last year due to the pandemic. Organising a baptismal service for the new souls that have given their lives lo the Lord. Independent Examiner Lee Facey on behalf of Lubbock Fine has been re-appointed as independent examiner for the ensuing year. Approved by order of the members of the board of Trustees and signed on their behalf by.. Benson Eboh-Abohi Trustee Date.. 16 February 2023 Page 3
CHRIST AMBASSADORS MINISTRIES INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MAY 2022 Independent Examlner's Report to the Trustees of Chrlst Ambassadors Mlnlstrles {'the charlty'l I report to the charity Trustees on my examination of the accounts of the charity for the year ended 31 May 2022. This report is made solely to the charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might stale to the charity's Trustees those mallers l am required lo slate to them in an Independent Examiner's Report and for no other purpose. To the fullest exlenl permitted by law, I do not accept or assume responsibility to anyone other than the parent charity and the charity's Trustees as a body, for my work or for this report. Responslbllltles and 8asls of Report As the Trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 I'the 2011 ACVI. I report in respect of my examination of the charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 14515llbl of the 2011 Act. Independent Examlner's Ststement I have completed my examination. I confirm that no material matters have come lo my attention in connection with the examination giving me cause to believe that in any material respect.. accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act., or the accounts do not accord with those records,. or the accounts do not comply with the applicable requirements concerning the form and conlenl of accounts sel out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and faiv view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other mallers in connection with the examination to which attention should be drawn in this report in order lo enable a proper understanding of the accounts to be reached. LL Fa4 Lee Facey Independent Examiner Lubbock Fine LLP Chartered Accountants Palernosler House 65 St Paul's Churchyard London EC4M 8AB Dale.. 22 February 2023 Page 4
CHRIST AMBASSADORS MINISTRIES STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MAY 2022 Unrestrlcted funds 2022 Restrlcted funds 2022 Total funds 2022 Total funds 2021 Note Income from: Donations 95,204 38 8,249 103,453 38 100,562 36 Investment Income Total income 95,242 8,249 103,491 100,598 Expenditure on: Charitable activities 40,831 40,831 25,966 Total expenditure 40,831 40,831 25,966 Net movement in funds 54,411 8,249 62,660 74,632 Reconciliation of funds: Total funds brought forward Nel movement in funds 292,669 54,411 7,735 8,249 300,404 62,660 225,772 74,632 Total funds earried forward 347,080 15,984 383,064 300,404 The notes on pages 7 10 14 form part of these financial statements. Page 5
CHRIST AMBASSADORS MINISTRIES BALANCE SHEET FOR THE YEAR ENDED 31 MAY 2022 2022 2021 Note Fixed assets Tangible assets Current assets 5,906 3,733 Debtors Cash al bank and in hand 13,661 347,612 13,525 284,949 361,273 298,474 Creditors.. amounts falling due within one year 14,1151 11,8031 Net current assets 357, 158 296,671 Total net assets 363,064 300,404 Charlty funds Restricted funds Unreslricled funds 10 15,984 347,080 7,735 292,669 10 Total funds 363,064 300,404 The financial statements were approved and aulhorised for issue by the Trustees and signed on their behalf by.. Benson Eboh-Abohi Trustee Dale.. 16 February 2023 The notes on pages 7 10 14 form part of these financial ststemenls. Page 6
CHRIST AMBASSADORS MINISTRIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2022 Accountlng pollcles 1.1 Basis of preparation of financial statements The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise slated in the relevant notes lo these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice.. Accounting and Reporting by Charities preparing their accounts in accordan with the Financial Reporting Standard applicable in the UK and Republic of Ireland ISORP FRS 1021 and Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021 and Charities Act 2011. Christ Ambassadors Ministries meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised al historical cost or transaction value unless otherwise slated in the relevant accounting policy. 1.2 Going concern The accounts have been prepared under the going concem basis, which assumes that current and future SoUrS of funding will be adequate for the charity's needs. The Trustees continuously review the funding prospects and expenditure levels and lake action lo reduce expenditure should funding expectations and reserves appear inadequate. On the basis of this policy, the Board consider that the charity will continue in operational existence for the foreseeable future. 1.3 Income Income lax recoverable in relation lo investment income is recognised at the time the investment income is re1Vable. All incoming resources are included in the slalement of financial activities when the charity has entitlement lo the funds, rtaInty of receipt and the amount can be measured with sufficient reliability. Donation income is recognised on a receivable basis. Gift aid income is recognised in the period in which the donation was made. 1.4 Interest receivable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity., this is normally upon notification of the interest paid or payable by the bank. 1.5 Expenditure Expenditure is recognised once there is a legal or constructive obligation lo transfer economic benefit to a third paty, 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 Classified by activity. The costs of each activity are made up of the total of direct Costs and shared costs, Including support costs involved in undertaking each activity. Direct costs attributable lo a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable lo a single activity are apportioned belween those activities on a basis consistent with the use of resources. Charitable activity Costs are costs Incurred on the charity's operations, including support costs and costs relating to the governance of the charity apportioned lo charitable activities. Page 7
CHRIST AMBASSADORS MINISTRIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2022 Accountlng pollcles Icontlnuedl 1.6 Fund accountlng Unrestricted funds consist of donations received or generated for expenditure on the general objectives of the Charity. Restricted funds are funds which are to be used in accordance with specific reslriclions imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes lo the financial statements. Investment income, gains and losses are allocated to the appropriate fund. 1.7 Tanglble flxed assets and depreclatlon Tangible fixed assets are carried al cost, net of depreciation and any provision for impairment. Depreciation is provided al rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases". Equipment 20010 straight line 1.8 Debtors Trade and other debtors are recognised al the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 1.9 Cash at bank and In hand Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. 1.10 Llabllltles and provlslons Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in setuement, and the amount of the settlement can be estimated reliably. 1.11 Flnanelal Instruments The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured al their settlement value with the exception of bank loans which are subsequently measured al amortised cost using the effective interest method. 1.12 Irrecoverable VAT The Charity was not VAT registered during the year and therefore all expenditure is inclusive of any VAT charged. Page 8
CHRIST AMBASSADORS MINISTRIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2022 Income from donatlons Unrestrlcted Restrlcted funds funds 2022 2022 Total funds 2022 DonatiOnslIheS Gift Aid recoverable 81,543 13,661 8,249 89,792 13,661 95,204 8,249 103,453 Unrestricted Restricted funds funds 2021 2021 Total funds 2021 DonatIonslIheS Gift Aid recoverable 83,029 11,513 6,020 89,049 11,513 94,542 6,020 100,562 Investment income Unrestricted funds 2022 Total funds 2022 Bank Inte51 38 38 Unrestricted funds 2021 Total funds 2021 Bank interest 36 36 Page 9
CHRIST AMBASSADORS MINISTRIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2022 Costs of Charltable Actlvltles by Fund Type Summary by fund type Unrestrlcted funds 2022 Total 2022 Advancement of the Christian Faith 40,831 40,831 Unrestricted funds 2021 Total 2021 Advancement of the Christian Faith 25,966 25,966 Costs of Charitable Activities by activity Activities undertaken directly 2022 Support costs 2022 Total funds 2022 Advancement of the Christian Faith 35,562 5,269 40,831 Activities undertaken directly 2021 Support osts 2021 Total funds 2021 Advancement of the Christian Faith 21,890 4,076 25,966 Page 10
CHRIST AMBASSADORS MINISTRIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2022 Costs of Charltable Actlvltles by actlvlty Icontlnuedl Analysls of support costs Total funds 2022 Activities 2022 Independent examiner fees Igovernancel Depreciation 2,998 2,271 2,998 2,271 5,269 5,269 Total funds 2021 Activities 2021 Independent examiner fees Igovernancel Depreciation 2,040 2,036 2,040 2,036 4,076 4,076 Trustee and employee remuneration During the year, no Trustees received any remuneration or other benefits12021 £NILI. During the year ended 31 May 2022, no TrLJStee expenses have been incurred12021- £NILI. There were no employees during the current or prior year. Page 11
CHRIST AMBASSADORS MINISTRIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2022 Tanglble flxed assets Equipment Cost or valuation At 1 June 2021 Additions 20,824 4,444 At 31 May 2022 25,268 Depreciation At 1 June 2021 Charge for the year 17,091 2,271 At 31 May 2022 19,362 Net book value At 31 May 2022 5,906 At31 May2021 3,733 Debtors 2022 2021 Due within one year Other debtors 13,661 13,493 32 Prepayments and accrued income 13,681 13,525 Creditors: Amounts falling due within one year 2022 2021 Trade creditors 1,415 2,700 Accruals 1,803 4,115 1,803 Page 12
CHRIST AMBASSADORS MINISTRIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2022 10. Statement of funds Statement of funds - current year Balance at 1 June 2021 Balance at Income Expendlture 31 May 2022 Unrostrictgd funds General Funds 292,669 95,242 140,8311 347,080 Restricted funds Homeless fund Building fund 1,715 6,020 1,715 14,269 8,249 7,735 8,249 15,984 Total of funds 300,404 103,491 140,8311 363,064 The Homeless Fund is made up of donations towards a project lo provide provisions for the homeless. The Building Fund is made up of donations towards securing larger premises. statement of funds - prior year Balance at 1 June 2020 Balance at Income Expenditure 31 May 2021 Unrestricted funds General Funds 224,057 94,578 125,9661 292,669 Restricted funds Homeless fund Building fund 1,715 1,715 6,020 6,020 1,715 6,020 7,735 Total of funds 225,772 100,598 125,9661 300,404 Page 13
CHRIST AMBASSADORS MINISTRIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2022 11. Analysls of net assets between funds Analysls of net assets between funds - current year Unrestricted Restricted funds funds 2022 2022 Total funds 2022 Tangible fixed assets Current assets Creditors due within one year 5,906 345,289 14,1151 5,906 361,273 14,1151 15,984 Total 347,080 15,984 363,064 Analysis of net assets between funds - prior year Unrestricted Restricted funds funds 2021 2021 Total funds 2021 Tangible fixed assets Current assets Creditors due within one year 3,733 290,739 11,8031 3,733 298,474 11,8031 7,735 Total 292,669 7,735 300,404 12. Related party transactions Unrestricted donations tolalling £6,37912021- £2,9531 were donated by Trustees during the year. Page 14