Report and Financial Statements For the year ended 31st March 2024 Divine Restoration Mission Charity No.. 1127872
Dlvlne Res ion Contents page Legal and Administratlve Information Repor¢ of the Trustee 4t09 Independent Examiner's report Ioto 11 Statement of Financlal Activities Balance Sheet Notes forming parc of the linancial statement5 14to 18 The following page does not form part of the Statutovy Accounts Income and Expenditure Account 19
Divine oration Mi55ion al and Administrative infovmatio Chari Name: Divine Restoration Mission Charit istration Number. 1127872 i5tered Offi eand Robert Clack Leisure centre, Gosfield Road, C)agenham. RM8 1 DN erational A DivectorslTrustees: Rev Samuel Adcolushola Adeshipe Pastor Grace Abosede Adeshipe Pastor Stephen Adewole Secreta Rev Samuel Adeshipe nde endent Ex minev: Samuel Durojaiye FCPA SamLEelson and Co Certified Public Accountants 596 Kingsland Road Hackneyi London E8 4AH Bankers . Unity Trust Bank PLC Nine Brindley place Birmingham 812HB Nationwide Building Society I l A George Street Croydon CR9 IHP
Divine Restoration Mission ort of the Trustees for the Year Ended 3 1st March 2024 The Trustees presents its report and financial Statements for the year ended 31 st March 2024. Our Aim5 and Ob ectives Pur ose and Aim Our Charity s purpose5 a5 Set out in the objects contained in the Declaration of Trust are '. a. to advance the Christian faith in accordance wlth our Statement of beliefs in such ways and in such parts of the United Kingdom or rhe wor4d as the Trustee5 from time to time may think fit,. b. to relieye sickness and financial hardship 2nd to promote and preserve good he21th by the provision of fund5, goods or services of 2ny kind, including through the provision of coun5elling and sUPPOrt in such parts of che United Kingdom or the world as the Trustees from time to time may thinl< fit., c, to advance education ir¢ such ways 2nd in Such parts of the Unitsd 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 w¢th an operational focus throu8hout London. Ensurin Our ork Delivers Our Aims We review our aim5, objecttve5 and act¢vities each year. This review looks at what we achieved and the outcomes of our work in the previous 12 months. The review looks 2t 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 u5 ensure our aim , objectives and activities remained focused on our stated purposes. We hive 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 acrivities. In particular. the trLEStees consider how planned activities will eontribLJte to the aims and objectives they have set. The Focus of Our Work Our main obiectives for the year continued co be che advance of the Christian religion and the relieve of poverty and sickness. The strategies we used to meet these objectives included.. l. Provision of Weekly Church Service5 on Sunday to minister to the physical, spiritual and material need5 of the congregant5. 2. Provision of Special Events and Meetings to meet the speciflc needs of target groups in the Church such as Men, Women, Youth and Children. 3. Focusing on the Materlal needs of certain members undergoing difficult financial sitU2tions.
Divine Restoration Mission ortoft e Trustees for tho Year Ended 315t March 2024 4. Worl<ing with other Christian agencies and Churches in London to advance the preaching of the Gospel. 5. Provision of Pastoral Care for Congregants and other members of the community 6. Missionary and Outreach Wvork 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 5ickne55. ho used and benefited from our Se Our Church Services are presented with both the regular congregant and the vi51tor 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 haye a church background and a5 such may not understand the proce55es and procedure5 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 la£1< of financial resources. icesT Financial Re iew During the year we h2ve been successful in raising a total Income of £26,127 ci al Fundin ources The principal funding sources for the charity are currently by w*y of Donations and Gifts from congregants through the offering basket passed during Church service$ 2nd though banlc standing orders. We have exercbsed our right to ClaiM the tax on the donations and gifts received from the congregants and this ha5 proved a steady and growing source of addition31 income. Investment Polic The Charity has cash that are set out in the Charity balance sht5. The objective of the inve5ttnent 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 acces5 and security of funds is guaranteed.
Divine Restoration Mission ort of the Trustees or the Year Ended J I st March 2024 Reserves Polic The Board of TrLEStee5 has examined che Charity's requirements for reseThes in light of the mairi risks to the organisation. It has established a policy whereby the unrestricted funds no¢ committed or invested in tangible fixed assets held by the charity should be between 3 and 6 months of the expenditure. The expendi¢ure for 2024 is £47202 and the targeted reserves should be between £11801 and £23602 in general funds, The reserves are needed to meet the working capital requirements of the charity and the trustees are confident tha¢ It this level they would be able to continue the current activities of the Charity in the event of 2 significant drop in funding. This general reserve policy was met and exceeded as in earlier years. Plans for Future Perlods The Charity plans continuing the activities outlined above in the forchcoming years subjett to satisfactory funding arrangements. tructure Gov rnance and Mana overnin Document The OrgLnisation is a charitable organisation const¢tuted under a Constitution dated 4th January 2008 and registcred as a charity on 4th February 2009. The charity was established under a Constitution which e5tabli5hed the objects and powers of the charity and 15 governed under its term5. In the event of the Chirity wound up members are required to so decide by rhree-quarter5 majority. Recr IA ndA ointment of Trustee5 The trustees who are also charity erustees for the purpose5 of charity law are in charge of che stratsgit direction of the charitable trust. Under the requiremencs of the Declaration of Trust the trustees are elected to serve for a period of three years after which they must be re-elected it 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 n2ture of Church worlc, trLJStees appointed have been $0 selected on the ksis of their faith, strength of Character, skills set in the area of business management and growth and commltment to the vision of the charity,
Divine Restoration Mission ort of the Trustees r the Year Ended 31 st Mar Trustees Induction and T inin Most trLEStees are already familiar with the practical work of the charity having been friends of the Chltrch for a number of year5. Additionally, new trustees are invited and encouraged to function in the capacity as friends of the Churth in order to understand the offerings of the Church and its market. Additionally new trustees would be invitrd as required and encoLsf2ged to attend a Series of short training sessions to familiarise ihemselves with the charity and the context within which it operate5. These se55ions would be jointly led by the Chair of TrLJStees 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 sec out in the latest published accounts Future plans and objectives A Question & Answer pack WOLFld be prepared which draws information from various Charity Commission public2tions 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 wtth the Memorandum and Articles and the latest financial statements. Risk Mana emen The Trustees have identified the major strategic risk5 to whlch Divbne Rescoration Mission is exposed to and has established controls and actions to mitigate thetn. Each year, risk assessments take place a¢ our Offi and are subject to continual review and monitoring. The Trustees take all appropriate steps to moderdte and manage the inevitable operational ri5115 to which Yolunteers staff and a55ets of Divine Restoration Mission are exposed. Competence based training f¢)r Volunteers employers liability insurance. monitoring of new legislative requlrements are examples of strps taken. In particular there are policies and procedures for children and vulnerable adults Pr0Ction and for health and safety rislcs, Furthermore a risk register is to be established and update at least annually.
Divine Restoration Mission rt of the Truste s for thè Year Ended 31 st March 202 Ov anisation Divine Restoracion Mi55ion is governed by a Board of Trustees electsd 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 2re filled. The Board also ensures that a number of other criteria are met. The Board 2re assisted by Departmental leaders. The Board of Trustees mee¢ quarterly and are responsible for the strntegic direction and policy of the Charity. A scheme of delegation is in place and day to day responsibility lor the provision of the services resc with the Senior Pastor who is also the Chief Executive. He 15 assisted by volunteers. Res on5ibilities of the Trustee5 Charity law reqLJires 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 a5 at the ba12nce sheet date and of its incoming resource5 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 accounring pollcies and then apply them consistently., Malce judgements and estimates thit are reasonable and prudent Prepare the financial statements on the on 80ing basis unless it is inapproprlate to presume that the charity will continue on that basis. The Trustees are responsible for maintaining proper accounting records which d15tlose 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 201 l. The Trus¢ees are also responsible for safeguarding the asset5 of the Charity and hence for taking reasonable 5tep5 for the prevention and detection of fraud and other irregularityes,
Divine Restoration Mission ort of the Trustees for the Year Ended 315t March 2024 Members of the Board of Trustees Members of the Board of Trnstees, and trustees for the purpose of charity law, who Se¢d during the year and up to the date of this report are set out on page 3. In accordance with charity law, 25 trustees, we certify th2C So far as we are aware, there is no relevant informatlon of which the company's accountants are unaware,. and as the trustees of the charity we have taken all steps that we ought to h2ve talcen in order to malce 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 .14JJll • -
Divine Restoration Mission Inde endent Examine ort for the v ended 3 Trustees f Divine Rostor tion Mission M rch 2024 I report on the accounts of the charity for the year ended 31 st March 2024. which are set out on pages 7t0 13. Res ective res sibilitles o tees and examiner The trustees (who are ilso the directors of the organisation are responsible for the preparation of The trustres consider that an audit is not required for this year under section 144(2} of the Charities Act 20111201 l Act) 2nd that an independent examination is needed. The charity's gross income did not exeeed £250,000 and l am qualified to undertake the examination by being a fellow of the Certified Public A¢countant5 Association, Having satisfied myself that the char¢ty is not subject to audit under company law and is eligible for independent examination, it Is my responsibility to: examine the accounts under section 145 of the 201 l Act. to follow the procedures laid down in the generyal Directions given by the Charity Commission under section 145{5){b) of the 201 l Act., and to state whether particular matters have come to my attention. Basis of inde endent e aminer s re My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a reyiew of the accounting records kept by the charity and a comparison of che accounts with those records. It also includes ConsidetIon of any unusL¢al 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 oplnlon 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 statsment below. io
Divine Restoration Mis ndent Examiners Re Inde of Divine Restoration ission ar ed 31 st March 20 endent examiner'5 Statement In connection with my examination, no matter has come ¢0 my ittsntion.. ( l } which give5 me reasonable cause to believe that in any material respect the requirements.. to keep accountlng 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 requirement5 of section 396 of the Companies Act 2006 2nd with the mcthod5 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. a7LJ¢ S2muel DL¢rojaiye FCPA Samuelson & Co UK Ltd Certified Public Accountants 596 Kings12nd road Hackney, London E8 4AH
Dlvine Restoration Mission Statemen of Financia tivities ded 31 st March 2024 includin Income and Ex enditure Account for the 2024 2024 2024 2023 Unrestricced Restricted Funds Funds Total Total Funds Funds Notes Incomin resource5 Incomin sources from enerated funds: Voluntary Income.. Donations and Offering5 26,127 26,127 33,082 l incomin vesource5 26,127 26,127 33,082 Resources ex end Cost of eneratin Costs of generdting voluntary income 23,147 23,147 17,914 Charity activities 23,555 23,S55 4,356 Governance Costs 500 500 500 otal resour ex ended 47,202 47,202 22,770 Net Incomin bÈfo¥e other reco 21,075 21,075 10,312 nised ains Net mov Reconciliation of Fund Total funds brought forward ment in funds 21,075 21,075 10,312 80,350 80,350 70,038 T tal funds carried fonvar 59,275 59,275 80,350 The statement of fin2ncial activitie5 include5 all gains and10sses in the year. All incoming resources and resources expended derive from continuing actSvities. The notes on Pages 14 to 18 form part of these Account5. 12
Divine Restoration Mission Bal e Sheet as at 3 1st March 2024 Notes 2024 2023 Fixed assets Tan ible assets Currents assets Debtors 7,834 51,941 26,711 54,139 Cash at banlc and in hand 59,775 80,850 Creditors: Amo due within one ear 500 500 Net Current Asset 59,275 80,350 Net Assets 59,275 80,350 Funds Unrestricted Funds 59,275 90,662 Tot nds S9,275 90,662 Approyeé by the Board of Trustees on the 5th December 2024 and signed on its behalf by: Rev Samuel Adeshipe DirectorlTrustee The notes on pages 14 to 18 form part of these financial 5tatement%. 13
Divin storation Mission art of the financial Statement Notes fo or the ear ended 3 1st March 2024 l. Accountin Policies The principal accoijnting policles are summarised below. The accounting policies have been applied consistently throughout the year ind in che proceeding year. Basis of Accountin The financial statements have been prepared under the historical cost convention, a5 modified by inclusion of fixed assets investments 2t market value, and in accordance with the Statement of Recommended Practice.. Accounting and Reporting by Charities issued in March 2005. Fund Accountin Unrestricted funds are available for use ac the discretion of the trustee5 in furtherance of the general objectives of the charity, Unrestrictsd funds include a reyaluation reserve representirbg the restatement of investment assets at market Yalues. Designated funds are unrestricted funds earmarked by the Trustees for particular PLtrpo%es. Restricted funds 2re subjected to restrictions on their expenditure imposed by the donor or through the terms of an appeal. Incomin sources 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 c2te8ories of income.. Voluntary income Is reiVed by way of grants, donations and gifts and 15 included in full in the Statemenc of Financial Activities when receiydble. Grants, where entitlement is not conditlonal 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 setryices proyided by Yolunteers has not been included in these accounts. Invested income is included when receivable. Incoming resources from charioble trading attivity are accounted for when eamed. 14
Divine Restoration Misslon Notes formin art of the financial statements for the ear ende 31stM rch2024 Incoming resources from grants, where related to performance and specific deliverables, are accounted for as the ch2rity earns the right to consideration by its peiformance. Resources ex ended Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fLElly recovered, and is reported as part of the expenditure to which it relaces.. Costs of genernting funds comprise the cost5 a550ciated with attract£ng voluntary income and the costs of trnding 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 associaced with meeting the constitutional and statutory requirements of the charity and include the accountancy fees and costs linked to the stratsgic management of the charity. All cost5 are allocated between the expenditure categories of the SOFA on a basis designed to refiect the use of the resource. Costs relating to a p&rtiCLElar activity are allocated directly, others are apportioned on an appropriate basis e.g. floor areasy per capira or estimated usage as set out in Notes 3-5. Flxed Assets Fixed assets (excluding investments} are stated at cost les5 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 Ca$ is estimated at B year5. Investments held as fixed a55ets 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 Unrestricted Restrlcted 2024 2023 Total C)onations Tithes and Offering 26,127 26,127 26,127 26,127 33.082 33,082 15
Divi Notes fo storation Mission rt of the financia st tements for the ear ended 31 st March 2024 3. Costs of Generati Volunta Income Basi5 of Church Suprx)rt Cost Governance 2024 2023 All(xation Worlc Administration Direct 11,555 Support Costs Premises Direct 5,300 5,300 4,716 Direct 4,716 6,359 17,847 5,300 23,147 17,914 4. Charitable Activities Ministry Direct 23,555 23,555 4,356 23,555 23,555 4,356 5. Goyernanc Cost Professional Fees Direct 500 500 500 500 500 500 Total Resouvce 41,402 S,300 500 47,202 22,770 rustee Remun ration & Related Pa Transac ions No member of the Board of Directors apart from the Senior StOr received any remuneration during the year. 7. Taxation As a charity, Divine Restoracion Mission is exempt from tax on income and gains falling within section 505 of the Taxes Act1988 or s256 of the Taxation of Chargeable Gain5 Act 1992 to the extent that these are applied to its charitable objects. No tax charges have risen in the Charity. 16
Divine Res or n Mission Note$ formÉn art of the financial statements for the ear ended 3 1st March 2024 8. Tan ible Fixed Assets Motor Vehicle 2024 Total Cost At l April 2023 Additions At 31 st March 2024 reciation At l April 2023 Charge for the year Ac 31 st March 2024 Net Bool< Val At 31 st March 20 At 31 March 2023 9. Credltors: Amounts falling due within one year Accruals & Deferred Income 2024 2013 500 500 500 500
Divine Restoration Mission Not s formin art of the financial statements lor the 31 st Mavch 2024 10. N t incomin s for the ear This is tated after char in 2024 2023 Depreciation Audit & Accountancy Fees 500 500 Anal sis of Net Assets Between Fund General Designated Funds Funds Restricted Total Fund5 Funds Tangible Fixed Assets Current Assets 59,775 500 59,775 500 Current Liabilities et Assets at 31 t March 202 59,275 59,275 2. Movements i Funds At l April Incoming 2023 Resources Oucgoing Resources Transfer At 31 March 2024 [Inc Gair)s] Restricted Funds.. Total Restricted Funds nrestricted Funds: General Funds 80,350 26.127 47,202 59,275 Total Unrestrlcced Funds 80,350 26,127 47,202 59,275 Total Fund 80.350 26,127 47,202 59,275
Divine Restoration Mission Income and Ex enditure Account for thÉ ear ended 3 1st March 2024 2024 2023 Income 26,127 33,082 LESS OVERHEADS Premises C Hire of Hallloffice Rent 4,716 6,359 4,716 6,359 Administration Pastors Allowance 10,865 1,480 420 366 10,865 450 Printing and Stationery Insurance Telephone & Internet Service Charye 240 11,555 Minist Honorariim & mu51C trapiing Evangellsm M4ssitsn expenses Evangellcal alliance 250 260 12,001 11,204 100 5,544 2,452 100 23,555 4.356 rofessional Fees Legal Cost Accountancy Fees 500 500 500 500 rt Costs Depreciation TYe1 Expenses 5,366 5,300 47,202 21,075 80,350 59,275 22,770 10.312 70,038 80,350 SurplUDerI(lt for the year Surplus brought lorw&rd Surplu$ carried fonvard Thi5 pge does not form part of the statutory accounts. 19