Independent Examiner's Report to the Trustees of Exodus International Christian Centre
I report on the accounts for the year ended 31 May 2021 set out on pages one to eight.
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(2) of the Charities Act 2011 (the 2011 Act)) and that an independent examination is required .
It is my responsibility to:
-
a) examine the accounts under Section 145 of the 2011 Act
-
b) to follow the procedures laid down in the General Directions given by the Charity Commission (under Section 145(5)(b) of the 2011 Act); and
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c) to state whether particular matters have come to my attention.
Basis of the 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 statements below.
Independent exaininer'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
- a) to keep accounting records in accordance with Section 130 of the 2011
Act; and
b) to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the 2011 Act have not been met; or
- (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Olawale Olusanya Association of Chartered Certified Accountants Trinity Essex Limited Chartered Certified Accountants 111 High Street Sittingbourne Kent ME10 4AJ
Date: 25/08/2021
Page 1 of 15
| Charity No (if any) 1127863 Period start date 01/06/2020 To Period end date 31/05/2021 CC17a Exodus International Miracle Centre Annual accounts for the period ~~—————~~ |
Charity No (if any) 1127863 Period start date 01/06/2020 To Period end date 31/05/2021 CC17a Exodus International Miracle Centre Annual accounts for the period ~~—————~~ |
Charity No (if any) 1127863 Period start date 01/06/2020 To Period end date 31/05/2021 CC17a Exodus International Miracle Centre Annual accounts for the period ~~—————~~ |
Charity No (if any) 1127863 Period start date 01/06/2020 To Period end date 31/05/2021 CC17a Exodus International Miracle Centre Annual accounts for the period ~~—————~~ |
|---|---|---|---|
| Section A Statement of financial activities | Section A Statement of financial activities | ||
| Restricted | |||
| Recommended categories by activity Details of own analysis Note Unrestricted funds income funds Endowment funds |
Total this year |
Total last year |
|
| £ £ £ |
£ | £ | |
| Incoming resources (Note 3) F01 F02 F03 |
F04 | F05 | |
| Incoming resources from generated funds 42,810 - - 42,810 26,656 Voluntary income S01 - - - - - Activities for generating funds S02 - - - - - Investment income S03 - - - - - Incoming resources from charitable activities S04 - - - - - Other incoming resources S05 6,681 - 6,681 20,345 S06 49,491 - - 49,491 47,001 Total incoming resources ~~S |
==s==~~ | ||
| Resources expended(Notes 4-8) | |||
| Costs of Generating Funds - - - - - Costs of generating voluntary income S07 - - - - - Fundraising trading costs S08 - - - - - Investment management costs S09 - - - - - Charitable activities S10 29,807 - - 29,807 27,065 Governance costs S11 1,100 - - 1,100 700 Other resources expended S12 19,982 - - 19,982 17,882 S13 50,889 - - 50,889 45,647 S14 1,398 - - - 1,398 - 1,354 S15 - - - - - S16 1,398 - - - 1,398 - 1,354 Net incoming/(outgoing) resources before transfers Net incoming/(outgoing) resources before other recognised gains/(losses) Gross transfers between funds Total resources expended ~~pas~~ ~~a~~ |
|||
| Other recognised gains/(losses) | |||
| Gains and losses on revaluation of fixed assets | |||
| S17 - - - for the charity’s own use |
- | - | |
| S18 - - - Gains and losses on investment assets |
- | - | |
| S19 1,398 - - - Net movement in funds |
- | 1,398 - |
1,354 |
| S20 2,276 - - Total funds brought forward |
3,074 | 922 | |
| S21 878 - - Total funds carried forward |
1,676 | 2,276 |
Page 2 of 15
Section B Balance sheet
| Restricted | ||
|---|---|---|
| Note | Unrestricted funds income funds Endowment funds Total this year Total last year |
|
| £ £ £ £ £ |
||
| Fixed assets | F01 F02 F03 F04 F05 |
|
| Tangible assets (Note 9) Investments (Note 10) Total fixed assets |
B01 6,828- -6,828 8,393 B02 - - - - - B03 - - - - - B04 6,828 - - 6,828 8,393 ~~————~~ |
|
| Current assets | ||
| Stock and work in progress Debtors (Note 11) (Short term) investments Cash at bank and in hand Total current assets Creditors: amounts falling due within one year (Note 12) Net current assets/(liabilities) |
B05 - - - - - B06 - - - - B07 - - - - - B08 878 - - 878 2,207 B09 878 - - 878 2,207 B10 3,750- -3,750 3,750 B11 - 2,872 - -~~-~~2,872 1,543 - ~~=~~ ~~tT~~ |
|
| Total assets less current liabilities | B12 | 3,956 -- 3,956 6,850 |
| Creditors: amounts falling due after one year (Note 12) Provisions for liabilities and charges Net assets |
B13 - - - - - B14 - - - - - B15 3,956 - - 3,956 6,850 ~~——~~ |
|
| Funds of the Charity Unrestricted funds Restricted income funds (Note 13) Endowment funds(Note 13) Total funds |
B16 3,956 3,956 6,850 B17 - - - B18 - - - B19 - - - B20 3,956 - - 3,956 6,850 ~~Se~~ |
|
| Signed by one or two trustees on behalf of all the trustees |
Date of approval Print Name Signature |
|
| 24/08/2021 Aderemi Alabi |
Page 3 of 15
Section C Notes to the accounts
Note 1 Basis of preparation
This section should be completed by all charities .
1.1 Basis of accounting
These accounts have been prepared on the basis of historic cost (except that investments are shown at market value) in accordance with:
- Accounting and Reporting by Charities – Statement of Recommended Practice (SORP 2005);
• and with ✓ Accounting Standards; or Financial Reporting Standards for Smaller Enterprises (FRSSE); • and with the Charities Act. [* except for the following].
-
-Tick as appropriate:
-
if all relevant disclosures shown in the pack have been given then please tick “Accounting Standards”;
-
if disclosures completed in these accounts have been restricted to those required by the FRSSE, then please tick
-
“Financial Reporting Standards for Smaller Enterprises (FRSSE)”. ** - If no departures from the chosen standards have been made then delete these words; otherwise give details of any changes in the boxes.
1.2 Change in basis of accounting
There has been no change to the accounting policies (valuation rules and methods of accounting) since last year (§ except for the following).
- § if no changes have been made to accounting policies then delete these words.
1.3 Changes to previous accounts
No changes have been made to accounts for previous years (§§ except for the following).
- §§ if no changes have been made to accounts for previous periods then delete these words.
20/03/2019
CC17a (Excel)
Section C Notes to the accounts (cont)
Note 2 Accounting policies
This standard list of accounting policies has been applied by the charity except for those deleted. Where a different or additional policy has been adopted then this is detailed in the box below.
INCOMING RESOURCES
| Recognition of incoming | These are included in the Statement of Financial Activities (SoFA) when: |
|---|---|
| resources | • the charity becomes entitled to the resources; |
| • the trustees are virtually certain they will receive the resources; and | |
| • the monetary value can be measured with sufficient reliability. | |
| Incoming resources with | Where incoming resources have related expenditure (as with fundraising or contract income) |
| related expenditure | the incoming resources and related expenditure are reported gross in the SoFA. |
| Grants and donations | Grants and donations are only included in the SoFA when the charity has unconditional |
| entitlement to the resources. | |
| Tax reclaims on donations | Incoming resources from tax reclaims are included in the SoFA at the same time as the gift |
| and gifts | to which they relate. |
| Contractual income and | This is only included in the SoFA once the related goods or services have been delivered. |
| performance related grants | |
| Gifts in kind | Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised. |
| Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or | |
| distributed by the charity. | |
| Gifts in kind for use by the charity are included in the SoFA as incoming resources when | |
| receivable. | |
| Donated services and | These are only included in incoming resources (with an equivalent amount in resources |
| facilities | expended) where the benefit to the charity is reasonably quantifiable, measurable and |
| material_._The value placed on these resources is the estimated value to the charity of the | |
| service or facility received. | |
| Volunteer help | The value of any voluntary help received is not included in the accounts but is described in the trustees’ annual report. |
| Investment income | This is included in the accounts when receivable. |
| Investment gains and losses | This includes any gain or loss on the sale of investments and any gain or loss resulting from |
| revaluing investments to market value at the end of the year. | |
| EXPENDITURE AND | LIABILITIES |
| Liability recognition | Liabilities are recognised as soon as there is a legal or constructive obligation committing |
| the charity to pay out resources. | |
| Governance costs | Include costs of the preparation and examination of statutory accounts, the costs of trustee |
| meetings and cost of any legal advice to trustees on governance or constitutional matters. | |
| Grants with performance | Where the charity gives a grant with conditions for its payment being a specific level of |
| conditions | service or output to be provided, such grants are only recognised in the SoFA once the |
| recipient of the grant has provided the specified service or output. | |
| Grants payable without | These are only recognised in the accounts when a commitment has been made and there |
| performance conditions | are no conditions to be met relating to the grant which remain in the control of the charity. |
| Support Costs | Support costs include central functions and have been allocated to activity cost categories |
| on a basis consistent with the use of resources, eg allocating property costs by floor areas, | |
| or per capita, staff costs by the time spent and other costs by their usage. |
ASSETS
| ASSETS | |
|---|---|
| Tangible fixed assets for | These are capitalised if they can be used for more than one year, and cost at least £500. |
| use by charity | They are valued at cost or a reasonable value on receipt. |
| Investments | Investments quoted on a recognised stock exchange are valued at market value at the year |
| end. Other investment assets are included at trustees' best estimate of market value. |
Stocks and work in progress These are valued at the lower of cost or market value.
POLICIES ADOPTED ADDITIONAL TO OR DIFFERENT FROM THOSE ABOVE
20/03/2019
CC17a (Excel)
Section C Notes to the accounts (cont)
Note 3 Analysis of incoming resources
Incoming resources may be further analysed if this would help the reader of the accounts.
| Activities for generating funds Investment income Incoming resources from charitable activities Voluntary income |
Offreing Received Gift Aid Total Analysis |
This year Last year £ £ |
This year Last year £ £ |
|---|---|---|---|
| 42,810 6,681 - - - |
26,243 13,737 - - - |
||
| 49,491 | 39,980 | ||
| - - - |
- - - |
||
| - | - | ||
| Total | - - |
- - |
|
| - - |
- - |
||
| - | - | ||
| - | - | ||
| - | - | ||
| Total | - | - | |
| - | - | ||
| - | - | ||
| - | - | ||
| - | - | ||
| Total | - | - |
Section C Notes to the accounts (co
Note 4 Analysis of resources expended
Resources expended may be further analysed if this would help the reader of the accounts.
| Governance costs Charitable activities Investment management costs Costs of generating voluntary income Fundraising trading costs |
Analysis | This year Last year £ £ |
This year Last year £ £ |
|---|---|---|---|
| - | - | ||
| Rent | 15,000 | 15,000 | |
| Printing, Postage and Stationeries | 4,189 | 3,989 | |
| Telephone | 1,320 | 1,320 | |
| Bank Charges | 25 | 65 | |
| Depreciation | 1,565 | 1,565 | |
| Others | 3,794 | 3,054 | |
| Total | 25,893 | 24,993 | |
| Ministry | - | ||
| - | - | ||
| - | - | ||
| - | - | ||
| - | - | ||
| Total | - | - | |
| - | - | ||
| - | - | ||
| - | - | ||
| Total | - | - | |
| 23,896 | 20,654 | ||
| - | - | ||
| - | - | ||
| - | - | ||
| - | - | ||
| Total | 23,896 | 20,654 | |
| Accountancy | 1,100 | 700 | |
| - | - | ||
| - | - | ||
| Total | 1,100 | 700 |
CC17a (Excel)
06/10/2014
Section C Notes to the accounts (c
Note 5 Support Costs
Please complete this note if the charity has analysed its expenses using activity categories and has support costs.
| support costs. | ||||
|---|---|---|---|---|
| Support cost type | Fundraising activity £ |
Charitable Activity £ |
Governance Activity £ |
Total Cost £ |
| - | - | - | - | |
| - | - | - | - | |
| - | - | - | - | |
| - | - | - | - | |
| - | - | - | - | |
| - | - | - | - | |
| - | - | - | - | |
| Total | - | - | - | - |
Note 6 Details of certain items of expenditure
6.1 Trustee expenses
Please provide details of the amount of any payment or reimbursement of out-of-pocket expenses made to trustees or to third parties for expenses incurred by trustees. If no expenses were paid, please enter ‘None’ in the appropriate box(es).
Number of trustees who were paid expenses Nature of the expenses Total amount paid
| This year | Last year |
|---|---|
| £ | £ |
6.2 Fees for examination or audit of the accounts
Please provide details of the amount paid for any statutory external scrutiny of accounts and other services provided by your independent examiner or auditor. If nothing was paid please enter NONE in the appropriate box(es).
| appropriate box(es). | ||
|---|---|---|
| Independent examiner’s or auditors' fees for reporting on the accounts Other fees (for example: advice, consultancy, accountancy services) paid to the independent examiner or auditor |
This year £ |
Last year £ |
| 500 | 300 | |
| 600 | 400 |
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Section C Notes to the accounts (cont)
Note 7 Paid employees Please complete this note if the charity has any employees.
7.1 Staff Costs
----- Start of picture text -----
This year Last year
£ £
Gross wages, salaries and benefits in kind - -
Employer’s National Insurance costs - -
Pension costs - -
Total staff costs - -
7.2 Average number of full-time equivalent employees in the This year Last year
year Number Number
- -
The parts of the charity in which the Fundraising
employees work Charitable Activities - -
Governance - -
Other - -
Total - -
----- End of picture text -----
----- Start of picture text -----
7.3 Defined contribution pension scheme
Please complete if a defined contribution pension scheme is operated.
Brief details of the scheme
This year Last year
£ £
The costs of the scheme to the charity for the year
The amount of any contributions outstanding at the year end
The amount of any contributions prepaid at the year end
----- End of picture text -----
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Section C Notes to the accounts (cont)
Note 8 Grantmaking
Please complete this note if the charity made any grants or donations which in aggregate form a material part of the charitable activities undertaken.
8.1 Total value of grants
| Purpose for which grants made | Grants to institutions Total amount £ |
Grants to individuals Total amount £ |
|---|---|---|
| - | - | |
| - | - | |
| - | - | |
| - | - | |
| - | - | |
| - | - | |
| Total | - | - |
8.1 Grantmaking costs
If the charity’s accounts are prepared on the “activity basis” please give details of any support cost associated with grantmaking. Please enter “Nil” if the charity does not identify and/or allocate support costs.
Support costs of grantmaking
£
8.3 Grants made to institutions
If the charity has made grants to particular institutions that are material in the context of its grantmaking please give details of the institution supported, purpose of the grant and total paid to each institution listed. Sufficient information should be given to provide a reasonable understanding of the range of institutions supported.
----- Start of picture text -----
Total amount of
Names of institutions Purpose
grants paid £
-
-
-
-
-
-
-
-
-
-
Total grants to institutions -
----- End of picture text -----
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| Note 9 Tangible fixed assets | ||||||
| Please complete this note ifthe charity has any tangible fixed assets | ||||||
| 9.1 Cost or valuation | ||||||
| Freehold land & buildings |
Other land & buildings |
Plant, machinery and motor vehicles |
Fixtures, fittings and equipment |
Payments on account and assets under construction |
Total | |
| £ | £ | £ | £ | £ | £ | |
| Balance brought forward |
- | - | - | 18,871 | - | 18,871 |
| Additions | - | - | - | - | - | - |
| Revaluations | - | - | - | - | - | - |
| Disposals | - | - | - | - | - | - |
| Transfers * | - | - | - | - | - | - |
| Balance carried forward |
- | - | - | 18,871 | - | 18,871 |
| 9.2 Accumulated depreciation and impairment provisions | ||||||
| **Basis | SL or RB | SL or RB | SL or RB | SL or RB | SL or RB | |
| ** Rate | ||||||
| Balance brought forward |
- | - | - | 10,478 | - | 10,478 |
| Depreciation charge foryear |
- | - | - | 1,565 | - | 1,565 |
| Impairment provisions | - | - | - | - | - | - |
| Revaluations | - | - | - | - | - | - |
| Disposals | - | - | - | - | - | - |
| Transfers* | - | - | - | - | - | - |
| Balance carried forward |
- | - | - | 12,043 | - | 12,043 |
| 9.3 Net book value | ||||||
| Brought forward | - | - | - | 8,393 | - | 8,393 |
| Carried forward | - | - | - | 6,828 | - | 6,828 |
| 9.4 Revaluation | ||||||
| If any fixed assets have been revalued please give details of the valuer and method of valuation | ||||||
| Note 9 Tangible fixed assets | ||||||
| Please complete this note ifthe charity has any tangible fixed assets | ||||||
| 9.1 Cost or valuation | ||||||
| Freehold land & buildings |
Other land & buildings |
Plant, machinery and motor vehicles |
Fixtures, fittings and equipment |
Payments on account and assets under construction |
Total | |
| £ | £ | £ | £ | £ | £ | |
| Balance brought forward |
- | - | - | 18,871 | - | 18,871 |
| Additions | - | - | - | - | - | - |
| Revaluations | - | - | - | - | - | - |
| Disposals | - | - | - | - | - | - |
| Transfers * | - | - | - | - | - | - |
| Balance carried forward |
- | - | - | 18,871 | - | 18,871 |
| 9.2 Accumulated depreciation and impairment provisions | ||||||
| **Basis | SL or RB | SL or RB | SL or RB | SL or RB | SL or RB | |
| ** Rate | ||||||
| Balance brought forward |
- | - | - | 10,478 | - | 10,478 |
| Depreciation charge foryear |
- | - | - | 1,565 | - | 1,565 |
| Impairment provisions | - | - | - | - | - | - |
| Revaluations | - | - | - | - | - | - |
| Disposals | - | - | - | - | - | - |
| Transfers* | - | - | - | - | - | - |
| Balance carried forward |
- | - | - | 12,043 | - | 12,043 |
| 9.3 Net book value | ||||||
| Brought forward | - | - | - | 8,393 | - | 8,393 |
| Carried forward | - | - | - | 6,828 | - | 6,828 |
| 9.4 Revaluation | ||||||
| If any fixed assets have been revalued please give details of the valuer and method of valuation | ||||||
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Exodus International Christian Centre
| Exodus International Christian Centre | Exodus International Christian Centre |
|---|---|
| For the Year Ended 31st May 2021 | |
| ADDRESS: | Exodus International Christian Centre |
| 51 Timber Wharf | |
| 240 Kingsland Road | |
| London | |
| E2 8AT | |
| CHARITY NUMBER: | 1127863 |
| TRUSTEES: | Rev Aderemi Israel Alabi |
| Mrs Evelyn Idowu Alabi | |
| Miss Janet Akala | |
| Miss Azeeza Kassie Ajoke Lawal | |
| Miss Sarah Imole-Ayo Alabi | |
| Miss Laura Tolulope Alabi | |
| MINISTER-IN-CHARGE: | Reverend Aderemi Alabi |
| ACCOUNTANTS: | Trinity Essex Limited |
| 111 High Street | |
| Sittingbourne | |
| Kent | |
| ME10 4AJ | |
| Tel: 07539219351 | |
| BANKERS: | METRO Bank |
| One Southampton Row | |
| London | |
| WC1B 5HA | |
| GOVERNING INSTRUMENTConstitution Adopted 31 December 2007 |
12
Report of the Trustees for the year ended 31st May 2021
The trustees of Exodus International Christian Centre present their report along with Income & Expenditure statements and Balance sheet for the year ended 31st May 2021.
Aims and objects of the Charity.
The objects of the charity are to advance the Christian faith and to relieve poverty and sickness in accordance with Christian principles in the United Kingdom and other parts of the world as the trustees may from time to time deem fit.
What we do, who we help and how we operate!
-
Education and Training
-
The prevention or relief of poverty
-
Religious activities
-
Children and young people
-
Elderly and old people
-
Making grants to Individuals and Organisations
-
Provides services, advocacy, advice and information
-
Provides human resources
Financial Review and Funding sources
With due consideration to the present economic recession and financial hardship, the charity has been successful in experiencing an increase in income compared to the previous financial year.
From the Income and Expenditure Account for the year ended 31st May 2021, total Income experienced an increase of £2,490 (in spite of the current economic climate) from £47,001 for year ended 31[st ] May 2020 to £49,491 for year ended 31[st ] May 2021.
Total Expenditure experienced an increase of £5,242 from £45,647 for year ended 31[st ] May 2020 to £50,889 due to increases, both in the cost of generating income and in charitable activities.
Total funds carried forward for year ended 31[st ] May 2021 was £878.00 compared to £2276.00 for year ended 31[st ] May 2020 , resulting in a budget deficit of £1,398 , the difference and shortfall being adequately covered by savings from the previous year(s).
(S ee attached accounts for further details).
All income received by the charity has been solely from voluntary donations and Gifts from the congregation, visitors and other members of the public plus gift Aid claim from HMRC
Focus of our work in Public benefit
• Support for the Elderly Homes and Hospital Visits
Exodus International Christian Centre supports various local charity that helps stop local people/families in crisis and in need from going hungry, by providing emergency food and local support. Exodus International Christian Centre provides support by donating non-perishable foods and financial support on an on- going basis.
• Welfare Projects & Family Support
The Charity has been active and supportive throughout the year in the prevention and relief of poverty through
13
welfare projects and family support particularly for struggling single-parents and families in need, when the needs are identified. Assistance has usually been by the provision of essential groceries, educational materials for their children.
Trustees Report and Summary of activities - Year end 31st May 2021
• Wednesday Bible Class /service. – On going all year.
An interactive Bible study open to church members and the wider community, holds every Wednesday throughout the year except for the last Friday before Christmas. There is usually a question and answer session after the Bible study. Wednesday meetings take place at the church’s North London premises. All our services are open to members of the community.
• Sunday services – On going all year.
Sunday services take place at the church’s North London auditorium which accommodates the adult church and the various age-directed children’s classes. The building is within walking and driving distance of the local community we serve in the London area. All our services are open to members of the community.
• Holy Communion
Exodus International Christian Centre observes Holy Communion on the first Sunday of every month. All members of the congregation are enjoined to participate.
• Children’s Ministry and Crèche – On going- all year
Every week, the children, in age directed classes, are taught on principles of life from a biblical perspective. They are free to express themselves and have the opportunity to explore and ask questions. Periodically throughout the year, the children have presentations to the church in drama, songs and musical instrumentation .The team of workers and volunteers who oversee the Crèche and Children’s ministry are C.R.B (Criminal Records Bureau) certified. We also have a Child Protection Policy in place which is reviewed in accordance with changes and updates in legislation.
• Youth Mentoring- On going –all year
Every week, the Youths, in friendly and relaxed environment are mentored and tutored from a biblical point view on issues facing young people in this generation. Some of these issues of discussion focus on drugs, alcohol, sex and sexually transmitted diseases, peer pressure.
Along with teaching them on spiritual matters, they are also encouraged by guidance and counselling, to pursue a fulfilling career/academic discipline in their area of strength.
The youths are encouraged and supported to have freedom of expression. They usually have performances and presentations in drama and song, often reflective of what they had learnt and embraced in the previous months.
• Prayer & Fasting
As a church, every Tuesday throughout the year is dedicated to prayer and fasting with a prayer meeting held for one hour in the evening at the Church’s auditorium.
• 31[st ] December 2020- Watch-night service & Testimony night
The end of year celebration was marked with a concert by the church’s choir, testimonies of victories over the year, the message for the New Year and a prayer session.
- Growth & Expansion Strategy
14
The major evangelical tools adopted by Exodus International Christian Centre are occasional adverts in the local newspapers, fliers distributed periodically within the local community and word of mouth. All our community participation and integration activities are employed as evangelical tools.
Trustees Report and Summary of activities - Year end 31st May 2021
• Reserves Policy
The trustees have considered it prudent to establish and maintain a policy of unrestricted funds which are the free reserves of the charity to enable the smooth payment of running costs for the immediate future.
• Risk Management
The trustees have carried out a review of the major risks to which the church could be exposed and procedures have been implemented to lessen these risks where applicable. The risks and procedures are reviewed on an ongoing basis to accommodate changes in legislation in every area of our operations. The use of certified agents, liability insurances, monitoring new and updated legislative provisions are some of the steps that have been adopted.
• Statement of Trustees’ Responsibilities.
Trustees meet once every 3 month . Other meetings are scheduled as occasion demands. Charity law in England and Wales requires that trustees prepare financial statements for each financial year which gives a true and fair view of the state of affairs of the charity and of its financial activities during the year and of its financial position at the end of the year.
In preparing those financial statements, the trustees are required to:
-
Select suitable accounting policies and then apply them consistently;
-
Make judgements and estimates that are reasonable and prudent;
-
State whether applicable accounting standards and statements of recommended practice have been followed subject to any material departures disclosed and explained in the financial statements ;
-
Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time, the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act and Regulations.
They are also responsible for safeguarding the assets of the charity hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
On behalf of the Board of Trustees
Aderemi Alabi Trustee. 24 August 2021
15