2023-03-31-accounts - Divine Restoration Mission

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

! | | | ,

Report and Financial Statements

For the year ended 31st March 2023 Divine Restoration Mission

Charity No: 1127872

. ,

, . |

| |

Divine Restoration Mission

----- Start of picture text -----
Contents page
Legal and Administrative Information 3
Report of the Trustee 4to9?
Independent Examiner's report 10 to II
Statement of Financial Activities 12
Balance Sheet 13
Notes forming part of the financial statements 14 to 18
----- End of picture text -----

The following page does not form part of the Statutory Accounts

----- Start of picture text -----
Income and Expenditure Account 19
----- End of picture text -----

Divine Restoration Mission

Legal and Administrative information

Charity Name:	,	Divine Restoration Mission
Charity Registration Number:		1127872
Registered Officeand		Robert Clack Leisure centre,
Operational Address:		Gosfield Road, Dagenham, RM8
Directors/Trustees:		Rev Samuel Adeolushola Adeshipe
		Pastor GraceAbosede Adeshipe
		Pastor Stephen Adewole
Secretary:		Rev Samuel Adeshipe
Independent Examiner:		Samuel Durojaiye BScFCPA
		Samuelson and Co
		Certified Public Accountants
		596 Kingsland Road
		Hackney, London
		E8 4AH
Bankers :		Unity Trust Bank PLC
		Nine Brindley place
		Birmingham
		Bi 2HB
		Nationwide Building Society
		1 1A George Street
		Croydon
		CR?IHP

----- Start of picture text -----
|
|
----- End of picture text -----

----- Start of picture text -----
i
----- End of picture text -----

Divine Restoration Mission

Report of the Trustees for the Year Ended 3 Is¢ March 2023

The Trustees presents its report and financial statements for the year ended 31st March 2023. Our Aims and Objectives

Purpose and Aims

Our Charity's purposes as set out in the objects contained in the Declaration of Trust are :

a. to advance the Christian faith in accordance with our Statement of beliefs in such ways and in such parts of the United Kingdom or the world as the Trustees from time to time may think fit; b. to relieve sickness and financial hardship and to promote and preserve good health by the provision of funds, goods or services of any kind, including through the provision of counselling and support in such parts of the United Kingdom or the world as the Trustees from time to time may think fit;

c. to advance education in such ways and in such parts of the United Kingdom or the world as the Trustees from time to time may think fit. The aims of our charity are to preach the gospel in the city of London with an operational focus throughout London.

Ensuring Qur Work Delivers Our Aims

We review our aims, objectives and activities each year. This review looks at what we achieved and the outcomes of our work in the previous 12 months. The review looks at the success of each key activity and the benefits they have brought to those groups of people we are set up to help. The review also helps us ensure our aim , objectives and activities remained focused on our stated purposes. We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aim and objectives and in planning our future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives they have set.

The Focus of Our Work

Our main objectives for the year continued to be the advance of the Christian religion and the relieve of poverty and sickness. The strategies we used to meet these objectives included: |, Provision of Weekly Church Services on Sunday to minister to the physical, spiritual and material needs of the congregants. 2. Provision of Special Events and Meetings to meet the specific needs of target groups in the Church such as Men, Women, Youth and Children.

Focusing on the Material needs of certain members undergoing difficult financial situations.

| |

Divine Restoration Mission

Report of the Trustees for the Year Ended 3|st March 2023

Working with other Christian agencies and Churches in London to advance the preaching of the Gospel.
Provision of Pastoral Care for Congregants and other members of the community
Missionary and Outreach Work

How Our Activities Deliver Public Benefit

Our main activities and who we try to help are described below. All our charitable activities focus on the advancement of the Christian religion and the relief of poverty and sickness.

Who used and benefited from our Services?

Our Church Services are presented with both the regular congregant and the visitor or seeker in mind, We minister to the physical, mental and spiritual needs of the whole man in our services giving specific consideration to the seekers or new comers in our midst who may not necessarily have a church background and as such may not understand the processes and procedures of Christianity. We have also helped relief poverty and hardship amongst both regular and irregular congregants who are suffering from a period of financial hardship due to unemployment and lack of financial resources.

Financial Review

During the year we have been successful in raising a total income of £33082

Principal Funding Sources

The principal funding sources for the charity are currently by way of Donations and Gifts from congregants through the offering basket passed during Church services and though bank standing orders. We have exercised our right to reclaim the tax on the donations and gifts received from the congregants and this has proved a steady and growing source of additional income.

Investment Policy

The Charity has cash that are set out in the Charity balance sheets. The objective of the investment policy is to invest in cash at banks where the capital is protected, Bank interest income was achieved in the period . The Charity currently has a policy of keeping any surplus liquid funds in cash at banks where immediate access and security of funds is guaranteed.

Divine Restoration Mission

Report of the Trustees for the Year Ended 31st March 2023

Reseryes Policy

The Board of Trustees has examined the Charity's requirements for reserves in light of the main risks to. the organisation. It has established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets held by the charity should be between 3 and 6 months of the expenditure.

The expenditure for 2023 is £22,270 and therefore the targeted reserves should be between £5693 and £11,385 in general funds. The reserves are needed to meet the working capital requirements of the charity and the trustees are confident that at this level they would be able to continue the current activities of the Charity in the event of a significant drop in funding. This general reserve policy was met and exceeded as in earlier years.

Plans for Future Periods

The Charity plans continuing the activities outlined above in the forthcoming years subject to satisfactory funding arrangements.

Structure, Governance and Management

Governing Document

The Organisation is a charitable organisation constituted under a Constitution dated 4th January 2008 and registered as a charity on 4th February 2009. The charity was established under a Constitution which established the objects and powers of the charity and is governed under its terms. In the event of the Charity wound up members are required to so decide by three-quarters majority.

Recruitment and Appointment of Trustees

The trustees who are also charity trustees for the purposes of charity law are in charge of the strategic direction of the charitable trust. Under the requirements of the Declaration of Trust the trustees are elected to serve for a period of three years after which they must be re-elected at the next Annual General Meeting. All trustees except the Senior Pastor give their time voluntarily and receive no benefits from the charity. Due to the nature of Church work, trustees appointed have been so selected on the basis of their faith, strength of Character, skills set in the area of business management and growth and commitment to the vision of the charity.

Divine Restoration Mission

| :

Report of the Trustees for the Year Ended 3Ist March 2023

Trustees Induction and Training

Most trustees are already familiar with the practical work of the charity having been friends of the Church for a number of years. Additionally, new trustees are invited and encouraged to function in the capacity as friends of the Church in order to understand the offerings of the Church and its market. Additionally new trustees would be invited as required and encouraged to attend a series of short training sessions to familiarise themselves with the charity and the context within which it operates. These sessions would be jointly led by the Chair of Trustees and the Chief Executive or Senior Pastor of the Charity and cover:

The Obligations of Trustees The Main documents which set out the operational framework for the charity including the Declaration of Trust Resourcing and the current financial position as set out in the latest published accounts Future plans and objectives

A Question & Answer pack would be prepared which draws information from various Charity Commission publications signposted through the Commission's guide "the Essential Trustee" as a follow up to these sessions. This will be distributed to all new trustees along with the Memorandum and Articles and the latest financial statements.

----- Start of picture text -----
:
----- End of picture text -----

Risk Management

The Trustees have identified the major strategic risks to which Divine Restoration Mission is exposed to and has established controls and actions to mitigate them. Each year, risk assessments take place at our office and are subject to continual review and monitoring. The Trustees take all appropriate steps to moderate and manage the inevitable operational risks to which volunteers staff and assets of Divine Restoration Mission are exposed. Competence based training for Volunteers employers liability insurance, monitoring of new legislative requirements are examples of steps taken. In particular there are policies and procedures for children and vulnerable adults protection and for health and safety risks. Furthermore a risk register is to be established and update at least annually.

Divine Restoration Mission

| :

Report of the Trustees for the Year Ended 31st March 2023

Organisation

Divine Restoration Mission is governed by a Board of Trustees elected to serve the charity and run its affairs. Annually the Board reviews the range of skills it has available and uses its power of co-option to ensure that gaps are filled. The Board also ensures that a number of other criteria are met. The Board are assisted by Departmental leaders. The Board of Trustees meet quarterly and are responsible for the strategic direction and policy of the Charity. A scheme of delegation is in place and day to day responsibility for the provision of the services rest with the Senior Pastor who is also the Chief Executive. He is assisted by volunteers.

Responsibilities of the Trustees

Charity law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable trust as at the balance sheet date and of its incoming resources and applications of resources, including income and expenditure, for the financial year. In preparing those financial statements the Trustees should follow best practice and : Select suitable accounting policies and then apply them consistently; Make judgements and estimates that are reasonable and prudent

Prepare the financial statements on the on going basis unless it is inappropriate to presume that the charity will continue on that basis.

The Trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enables them to ensure that the financial statements comply with Charity Act of 2011. The Trustees are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Divine Restoration Mission

Report of the Trustees for the Year Ended 3|st March 2023

Members of the Board of Trustees

Members of the Board of Trustees, and trustees for the purpose of charity law, who served during the year and up to the date of this report are set out on page 3.

In accordance with charity law, as trustees, we certify that:

So far as we are aware, there is no relevant information of which the company's accountants are unaware; and as the trustees of the charity we have taken all steps that we ought to have taken in order to make ourselves aware of any relevant information and to establish that the Charity's accountants are aware of that information’. This report has been prepared by order of trustees:

Rev Samuel Adeshipe

----- Start of picture text -----
ae, <
----- End of picture text -----

----- Start of picture text -----
|
----- End of picture text -----

Divine Restoration Mission Independent Examiners Report to the Trustees of Diyine Restoration Mission for the year ended 31st March 2023

| report on the accounts of the charity for the year ended 3lst March 2023, which are set out on pages 7 to 13.

Respective responsibilities of trustees and examiner

The trustees (who are also the directors of the organisation are responsible for the preparation of The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (2011 Act) and that an independent examination is needed. The charity's gross income did not exceed £250,000 and | am qualified to undertake the examination by being a fellow of the Certified Public Accountants Association.

Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:

l examine the accounts under section 145 of the 2011 Act;

ll 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

ll to state whether particular matters have come to my attention.

Basis of 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 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 statement below.

----- Start of picture text -----
|
:
|
|
----- End of picture text -----

Divine Restoration Mission

| !

Independent Examiners Report to the Trustees of Divine Restoration Mission for the year ended 3!Ist March 2023

Independent examiner’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:

ll to keep accounting records in accordance with section 386 of the Companies Act 2006; and

[] to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities 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.

----- Start of picture text -----
Vandal
----- End of picture text -----

Samuel Durojaiye FCPA Samuelson & Co UK Ltd Certified Public Accountants

596 Kingsland road

Hackney, London E8 4AH

| |

----- Start of picture text -----
2
----- End of picture text -----

Divine Restoration Mission Statement of Financial Activities (including Income and Expenditure Account) for the year ended 31st March 2023

		2023	2023	2023	2023	2022
		Unrestricted	Restricted		Total	Total
		Funds	Funds		Funds	Funds
	Notes	£		£	£	£
Incoming resources
Incoming resourcesfrom generated funds:
Voluntary Income: Donations and Offerings	2	33,082		-	33,082	29,228
Investment Income	2	-		-	-	-
Total incomingresources		oe 33,082 - 33,082 29,228
Resources expended
Cost of generating funds
Costs ofgenerating voluntaryincome	5	17,914		-	17,914	21,928
Charity activities	6	4,356		-	4,356	6,121
Governance Costs	7	500		-	500	1,100
Total resourcesexpended		a 22,770 - 22,770 12,257
NetIncoming resources		10,312		-	10,342	15,570
before other recognised gains
Netmovement infunds		10,312		-	10,312	1,430
Reconciliation ofFunds
Total funds broughtforward		70,038		-	70,038	68,608
							i
Totalfundscarriedforward		80,350 a		-	80,350	70,038
Thestatementoffinancial activities	includes allgainsand losses in the			year. All	incoming
resources and resources expended	derive from	continuing activities.

The noteson Pages 14 to 18 form	part ofthese	Accounts.
		12

Divine Restoration Mission
Balance Sheet as at 3	st March 2023
	Notes	2023	2022
		£	£
Fixed assets
Tangible assets	8	-	-
Currents assets
Debtors		26,711	28,808
Cash at bankand in hand		54,139	41,730
		80,850	70,538
Creditors: Amounts fallingdue
within oneyear	9	500	500
NetCurrentAssets		80,350	70,038
NetAssets		80,350	70,038
Funds
Unrestricted Funds		80,350	70,038
Totalfunds		80,350	70,038

Approved by the Board of Trustees on the 31st January 2023 and signed on its behalf by:

Rev Samuel Adeshipe

----- Start of picture text -----
Director/Trustee °
;
ae PM EILEA A, t pean ee ,
----- End of picture text -----

The notes on pages |4 to 18 form part of these financial statements.

----- Start of picture text -----
|
|
----- End of picture text -----

Divine Restoration Mission

Notes forming part of the financial! statements for the year ended 31st March 2023

|, Accounting Policies

The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and in the proceeding year.

(a) Basis of Accounting

The financial statements have been prepared under the historical cost convention, as modified by inclusion of fixed assets investments at market value, and in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities issued in March 2005.

(b) Fund Accounting

Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. Unrestricted funds include a revaluation reserve representing the restatement of investment assets at market values.

Designated funds are unrestricted funds earmarked by the Trustees for particular purposes.

Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of an appeal.

(c ) Incoming Resources

All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:

Voluntary income is received by way of grants, donations and gifts and is included in full in the Statement of Financial Activities when receivable, Grants, where entitlement is not conditional on the delivery of a specific performance by the charity , are recognised when the charity becomes unconditionally entitled to the grant.

Donated services and facilities are included at the value to the charity where this can be quantified. The value of services provided by volunteers has not been included in these accounts.

Invested income is included when receivable.

Incoming resources from charitable trading activity are accounted for when earned.

Divine Restoration Mission Notes forming part of the financial statements for the year ended 31st March 2023

| ||

: | |

Incoming resources from grants, where related to performance and specific deliverables, are accounted for as the charity earns the right to consideration by its performance.

----- Start of picture text -----
:
----- End of picture text -----

(d) Resources expended

Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates:

Costs of generating funds comprise the costs associated with attracting voluntary income and the costs of trading for fundraising purposes.

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Governance costs include those costs associated with meeting the constitutional and statutory _ requirements of the charity and include the accountancy fees and costs linked to the strategic management of the charity. All costs are allocated between the expenditure categories of the SoFA on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, others are apportioned on an appropriate basis e.g. floor areas, per capita or estimated usage as set out in Notes 3-5.

(e) Fixed Assets

Fixed assets (excluding investments) are stated at cost less accumulated depreciation. The costs of minor additions or those costing below £1,000 are not capitalised. Depreciation is provided at rates calculated to write off the cost of each asset over its expected useful life, which in all cases is estimated at 8 years. Investments held as fixed assets are revalued at mid market value at the balance sheet date and the gain or loss taken to the Statement of Financial Activities.

2. Donations

----- Start of picture text -----
Unrestricted Restricted 2023 2022 |
Total |
£ é £ £ |
Donations -Tithes and ;
Offering 33,082 - 33,082 29,228 :
Investment Income 33,082- -- 33,082- 29,228- |
----- End of picture text -----

Divine Restoration Mission Notes forming part of the financial statements for the year ended 31st March 2023

| |

3. Costs of Generating Voluntary Income

	Basisof	© Church	Support	Governance	2023	2022
	Allocation	Work	Cost
Administration	Direct	14,555	-	-	11,555	14,126
Support Costs Premises	Direct Direct	- 6,359	- -	- -	- 6,359	- 7,802
		a 17,914 - - 17,914 21,928
4. Charitable Activities
Ministry	Direct	4,356 - - 4,356 5,370 ee 4,356 - - 4,356 5,370
5, Governance Cost
Professional Fees	Direct	-	-	500	500	500
		ee - - 500 500 500
Total Resources Expended		22,270	-	500	22,770	27,798

| |

6, Trustee Remuneration & Related Pay Transactions

No member of the Board of Directors apart from the Senior Pastor received any remuneration during the year.

7. Taxation

Asa charity, Divine Restoration Mission is exempt from tax on income and gains falling within section 505 of the Taxes Act!988 or s256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have risen in the Charity.

Divine Restoration Mission

Notes forming part of the financial statements for the year ended 31st March 2023

8, Tangible Fixed Assets
	.	Motor Vehicle				2023
						Total
		£		£
Cost
At	April 2022			-
Additions
At 3lst March 2023			-			.
Deprecjation
						-
At	April 2022			-
						-
Charge for the year			-
At 3st March 2023			-			“
Net Book Value
						-
At 3lst March 2023			.
						-
At 31 March 2022			-
9. Creditors:Amountsfallingdue			2023			2022
withinoneyear Accruals & Deferred Income		£	500		£	500
			500			500

Divine Restoration Mission

Notes forming part of the financial statements for the year ended 3 ist March 2023

10. Net incoming resources for the year

This isstated aftercharging:				2023 é			2022 £
							-
Depreciation Audit&Accountancy Fees				- 500			500
L!. Analysis ofNetAssetsBetween		Funds
			General	Designated	_	Restricted	Total
			Funds	Funds		Funds	Funds
			£	£	£		£
Tangible Fixed Assets CurrentAssets Current Liabilities			- 80,850 500	- - -		- - -	- 80,850 500
Net Assetsat 31st March	2023		a 80,3500 88D
12.Movements inFunds		Atl April 2022	Incoming Resources	Outgoing Resources		Transfer	At3I March 2023
			[Inc Gains]
		£	£	3		£	£
							-
Restricted Funds:		-	-	-		a
		es
Total Restricted Funds		-	-	-		-	-
Unrestricted Funds:
General Funds		70,038	33,082	22,770		-	80,350
Total Unrestricted Funds		a 70,038 33,082 22,770 - 80,350
TotalFunds		a 70,038 33,082 22,770 - 80,350

Divine Restoration Mission

Income and Expenditure Account for the year ended 31st March 2023

----- Start of picture text -----
||||||| |---|---|---|---|---|---| |2023|2022| |£|£|£|£|£|£| |Income|33,082|29,228| |LESS OVERHEADS| |Premises|Costs| |Hire|of|Hall/Office|Rent|6,359|7,802| |6,359|7,802| |Administration| |Pastors Allowance|10,865|13,449| |Printing and|Stationery|450|645| |Bank charge|-|32| |Telephone &|Internet|240|-| |Self Storage|Fees|-|-| |TL S5S|—|14,126| |Ministry| |Honorarium|&|music|training|260|-| |Mission expenses|3,996|5,270| |Evangelical|alliance|100|100| |4,356|5,370| |Professional|Fees| |Legal|Cost|-|-| |Accountancy|Fees|500|500| |500|500| |Support|Costs| |Depreciation|-|-| |Sundry|Equipment|-|-| |22,770|27,798| |Surplus/Deficit for the year|10,312|| ,430| |Surplus brought forward|70,038|68,608| |Surplus carried|forward|80,350|70,038|

----- End of picture text -----

----- Start of picture text -----
|
|
----- End of picture text -----

This page does not form part of the statutory accounts.