CITY CHAPEL
Charity No. 1128050
Company No. 06779509
Trustees' Report and Unaudited Accounts
30 November 2022
CITY CHAPEL CONTENTS
Pages Trustees' Annual Report 2 - 5 Independent Examiner's Report 6 Statement of Financial Activities 7 Summary Income and Expenditure Account 8 Balance Sheet 9 Notes to the Accounts 10 -14 Detailed Statement of Financial Activities 15 - 16
Page 1
CITY CHAPEL TRUSTEES ANNUAL REPORT
The Trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the unaudited financial statements of the charity for the year ended 30 November 2022.
REFERENCE AND ADMINISTRATIVE DETAILS
Company No. 06779509
Charity No. 1128050
Registered Office
161 Cumberland Road London E13 8LS
Directors and Trustees
The Directors of the charitable company are its Trustees for the purposes of charity law. The following Directors and Trustees served during the year:
D.A.A. ADENIYI
O. SANUSI
F.M. OMOTOSHO
Accountants
Vicom Accountancy Services Ltd Kemp House 128 City Road EC1V 2NX
Page 2
CITY CHAPEL TRUSTEES ANNUAL REPORT
ACHIEVEMENTS AND PERFORMANCE
The year began with City Chapel holding the Crossover Service in the Rumford Cinema after the 13th Anniversary Celebration was held at the Dagenham Cinema on the A13.
Coming off the shadow of Covid-19, the Church physical attendance had dipped, and the Leadership team continued with the theme Increase Your Digital Footprint and a drive to engage everyone on our Digital platforms.
The year began with our annual month of prayer and fasting themed OIL & FIRE. With all services online and The Gathering first Sundays relocated to Premier Inn Beckton.
City Chapel held several events during this period with The Women’s World Conference at the O2 along with our Marriage Conference Fortalice.
The Wednesday Bible Study was growing in popularity and was outperforming the Sunday services for attendance and giving, we covered many subjects including: “Should a Christian Tithe? Spiritual Warfare, The Prosperity Gospel and many more.
During this period, the Leadership team were in conversation with the Newham Methodist District about taking on one of their buildings.
Our Easter Service was held at Premier Inn, and we continued the pattern of once a month physical Sunday Gathering services. various themes during this quarter were Community and Unity, Relationships and Pentecost.
As the online sessions were meeting the needs of many, we saw several people from the virtual space continue to give towards the church because of the great services they were getting, especially the Bible Study Services. This pattern followed from last year.
This quarter was a turning point for the year in City Chapel. It began as the Pastors were encouraged to take a well-deserved break from their nonstop ministry all through Covid up to that point.
The Leadership team were also contemplating starting regular Sunday weekly services and shift from the Online majority focus.
While they were away, the Pastors got an email to come examine one of their buildings in Manor Park. The Leaders examined it and were happy with the immaculate condition of the space.
The condition though was that City Chapel needed to pay for one year lease upfront. Pastor Jonathan led the fundraising efforts with a word he had received from the Lord “all bills will be paid for through the currency of relationships”.
The Lord’s Grace was mighty on the congregation as true to His Word, God enabled the Church to raise more that the £40,000 needed by the deadline.
As a result, City Chapel ended its 13years of hiring spaces for Sundays alone and moved into its own permanent leased property on the 1st September 2022.
City Chapel began to hold physical meetings at Manor Park Methodist Church Herbert Road E12 6AY.
City Chapel for the first time in its history held its Anniversary Celebrations in its own permanent space.
The Church held its Crossover Service at the New Property along with its Christmas events.
We give God all the Glory for the divine enablement and Grace given to move finally into permanent space and relieve the Church from packing up every Sunday!!
Page 3
CITY CHAPEL TRUSTEES ANNUAL REPORT
PLANS FOR FUTURE PERIODS
Our key aim in 2023 is to acquire a Building to Lease and occupy as a Base for all our online and offline events. May the Almighty God help us towards this goal and vision.
Page 4
CITY CHAPEL TRUSTEES ANNUAL REPORT
The Trustees are responsible for keeping proper accounting records that 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 Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP (FRS 102).
Signed on behalf of the board
O. SANUSI
Trustee 12 August 2023
Page 5
CITY CHAPEL INDEPENDENT EXAMINERS REPORT
Independent Examiner's Report
I report on the accounts of CITY CHAPEL for the year ended 30 November 2022 which comprise the Statement of Financial Activities, the Summary Income and Expenditure Account, the Balance Sheet, the Statement of Cash Flows and the related notes.
Respective responsibilities of trustees and examiner
The trustees (who are also directors of the charitable company for the purposes of company law) are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under the Charities Act 2011, s.144(2) (the 2011 Act) and that an independent examination is needed.
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:
-
examine the accounts under s.145 of the 2011 Act;
-
to follow procedures laid down in the general Directions given by the Charity Commission under s.145(5)(b) of the 2011 Act; and
-
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 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 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.
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: to keep accounting records in accordance with the Companies Act 2006, s.386 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 Charities 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.
VICTORIA ONAYEMI {BA (Hons), FMAAT}
VICOM ACCOUNTANCY SERVICES LTD KEMP HOUSE 128 CITY ROAD EC1V 2NX
25 August 2023
Page 6
CITY CHAPEL STATEMENT OF FINANCIAL ACTIVITIES
for the year ended 30 November 2022
| Notes Income and endowments from: Donations 3 Other 4 Total Expenditure on: Charitable activities 5 Other 6 Total Net income/(expenditure) 7 Net income/(expenditure) before other gains/(losses) Other gains and losses: Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
Unrestricted funds 2022 £ 101,998 19,751 |
Total funds 2022 £ 101,998 19,751 |
Total funds 2021 £ 50,811 19,160 |
|---|---|---|---|
| 121,749 4,721 109,351 |
121,749 4,721 109,351 |
69,971 5,266 58,468 |
|
| 114,072 | 114,072 | 63,734 | |
| 7,677 | 7,677 | 6,237 | |
| 7,677 | 7,677 | 6,237 | |
| 7,677 15,912 |
7,677 15,912 |
6,237 9,675 |
|
| 23,589 | 23,589 | 15,912 |
Page 7
CITY CHAPEL SUMMARY INCOME AND EXPENDITURE ACCOUNT
for the year ended 30 November 2022
| Income Gross income for the year Expenditure Depreciation and charges for impairment of fixed assets Total expenditure for the year Net income before tax for the year Net income for the year |
2022 £ 121,749 121,749 112,845 1,227 114,072 7,677 7,677 |
2021 £ 69,971 |
|---|---|---|
| 69,971 | ||
| 63,058 676 |
||
| 63,734 | ||
| 6,237 | ||
| 6,237 |
Page 8
CITY CHAPEL BALANCE SHEET
for the year ended 30 November 2022
Fixed assets
| Tangible assets 9 Current assets Debtors Cash at bank and in hand Creditors:Amount falling due within one year 10 Net current liabilities Total assets less current liabilities Net assets excluding pension asset or liability Total net assets The funds of the charity Unrestricted funds General funds 11 Designated funds Reserves 11 Total funds |
4,909 4,909 2,149 18,122 20,271 (1,591) 18,680 23,589 23,589 23,589 (98,160) 121,749 23,589 23,589 |
2,706 2,706 2,149 12,648 14,797 (1,591) 12,774 15,912 15,912 15,912 (63,734) 79,646 15,912 15,912 |
|---|---|---|
These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
For the year ended 30 November 2022 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
Approved by the board on 21 August 2023
And signed on its behalf by:
O. SANUSI
Trustee 21 August 2023
Page 9
CITY CHAPEL NOTES TO THE ACCOUNTS
for the year ended 30 November 2022
1 Accounting policies
Basis of preparation
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) - Charities SORP (FRS 102) (effective 1 January 2015) - the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Change in basis of accounting or to previous
accounts
There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.
Fund accounting
Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity. Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal. Income Recognition of Income is included in the Statement of Financial Activities (SoFA) when the income charity becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability. Income with related Where income has related expenditure the income and related expenditure expenditure is reported gross in the SoFA. Donations Voluntary income received by way of grants, donations and gifts is included in the the SoFA when receivable and only when the Charity has Tax reclaims on unconditional entitlement to the income. donations and gifts Income from tax reclaims is included in the SoFA at the same time as the Donated services gift/donation to which it relates. and facilities These are only included in income (with an equivalent amount in expenditure) where the benefit to the Charity is reasonably quantifiable, measurable and material.
Page 10
CITY CHAPEL NOTES TO THE ACCOUNTS
Expenditure Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any expenditure VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates. Expenditure on These comprise the costs associated with attracting voluntary income, raising funds fundraising trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its charitable activities activities and services in the furtherance of its objects, including the making of grants and governance costs. Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.
Other expenditure These are support costs not allocated to a particular activity.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Trade and other debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.
Trade and other creditors
Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for nay trade discounts due.
2 Company status
The company is a private company limited by guarantee and consequently does not have share capital.
Page 11
CITY CHAPEL NOTES TO THE ACCOUNTS
3 Income from donations
| Offerings Tithes Building Funds 4 Other income Other Income Bank Interest 5 Expenditure on charitable activities Expenditure on charitable activities Charitable activities Merchant Services |
Unrestricted £ 28,268 16,136 57,594 101,998 Unrestricted £ 19,730 21 19,751 Unrestricted £ 3,768 953 4,721 |
Total Total 2022 2021 £ 28,268 £ 28,227 16,136 22,584 |
|---|---|---|
| 57,594 - |
||
| 101,998 50,811 |
||
| Total Total 2022 2021 £ £ 19,730 19,159 21 1 |
||
| 19,751 19,160 |
||
| Total Total 2022 2021 £ £ 3,768 4,013 953 1,253 |
||
| 4,721 5,266 |
Page 12
CITY CHAPEL NOTES TO THE ACCOUNTS
6 Other expenditure
Unrestricted
| Employee costs Motor and travel costs Premises costs Depreciation General administrative costs Legal and professional costs 7 Net income/(expenditure) before transfers 8 This is stated after charging: Depreciation of owned fixed assets Staff costs Salaries and wages No employee received emoluments in excess of £60,000. 9Tangible fixed assets Cost or revaluation At 1 December 2021 Additions At 30 November 2022 Depreciation and impairment Depreciation charge for the year At 30 November 2022 Net book values At 30 November 2022 At 30 November 2021 |
£ 37,400 7,091 42,988 1,277 11,584 9,011 109,351 2022 £ 1,277 - - |
Total 2022 £ 37,400 7,091 42,988 1,277 11,584 |
Total 2021 £ 38,400 6,337 1,395 676 6,519 |
|---|---|---|---|
| 9,011 | 5,141 | ||
| 109,351 | 53,054 | ||
| £ 2,706 3,430 |
2021 £ 676 - |
||
| - | |||
| £ 2,706 3,430 |
|||
| 6,136 | 6,136 | ||
| 1,277 1,277 |
1,277 1,277 |
||
| 4,909 | 4,909 | ||
| 2,706 | 2,706 |
Page 13
CITY CHAPEL NOTES TO THE ACCOUNTS
10 Creditors:
amounts falling due within one year
| Creditors: amounts falling due within one year |
||
|---|---|---|
| Other creditors | 2022 £ 1,591 1,591 |
2021 £ 1,591 |
| 1,591 | ||
11 Movement in funds
| At 1 December 2021 Unrestricted funds: General funds 15,912 Designated funds: Offering - Tithes - Other Income - Building Funds - Interest - Total - Revaluation Reserves: Total funds 15,912 12Analysis of net assets between funds Fixed assets Net current assets |
other gains/ losses) £ £ - (114,072) 28,268 - 16,136 - 19,730 - 57,594 - 21 - 121,749 - 121,749 (114,072) Unrestricted funds £ 4,909 18,248 23,157 |
£ £ - (98,160) - 28,268 - 16,136 - 19,730 - 57,594 - 21 |
|
|---|---|---|---|
| - 121,749 |
|||
| - 23,589 |
|||
| Restricted funds Total £ £ - 4,909 432 18,680 432 23,589 |
|||
13 Related party disclosures
Controlling party
The company is limited by guarantee and has no share capital; thus no single party controls the company.
Page 14
CITY CHAPEL DETAILED STATEMENT OF FINANCIAL ACTIVITIES
for the year ended 30 November 2022
Income from: Donations Offering Tithes Building Funds Other Other Income Bank Interest Total income Expenditure on: Charitable activities Charitable activities Governance costs HSBC Merchant Services Total of expenditure on charitable activities Employee costs Pastors’ Allowance Motor and travel costs Travel and Motor expenses Premises costs Rent |
Unrestricted funds 2022 £ 28,268 16,136 |
Total funds 2022 £ 28,268 16,136 57,594 101,998 19,730 21 19,751 121,749 3,768 3,768 953 953 4,721 37,400 37,400 7,091 7,091 42,988 42,988 |
Total funds 2021 £ 28,227 22,584 |
|---|---|---|---|
| 57,594 | - | ||
| 101,998 | 50,811 | ||
| 19,730 21 |
19,159 1 |
||
| 19,751 | 19,160 | ||
| 121,749 3,768 3,768 953 953 4,721 37,400 37,400 7,091 7,091 42,988 42,988 |
88,579 4,013 |
||
| 4,013 | |||
| 1,253 | |||
| 1,253 | |||
| 5,266 38,400 |
|||
| 38,400 | |||
| 6,337 | |||
| 6,337 | |||
| 1,395 | |||
| 1,395 |
Page 15
CITY CHAPEL
DETAILED STATEMENT OF FINANCIAL ACTIVITIES
| General administrative costs, including depreciation Depreciation Bank charges Insurance Software, IT support and related costs other gains/(losses) Other Gains Net movement in funds cost Stationery and printing Sundry Expenses Telephone, fax and broadband Legal and professional costs Accountancy and bookkeeping Other legal and professional Total of expenditure of other costs Total expenditure Net gains on investments Net income/(expenditure) Net income/(expenditure) before |
1,277 165 330 4,993 - 7,677 1,370 277 4,499 12,860 1,450 7,561 9,011 109,351 114,072 - 7,677 7,677 |
1,277 165 330 4,993 1,370 277 4,499 |
676 276 - 1,098 - 6,237 1,160 76 3,985 7,195 1,450 3,691 5,141 58,468 63,734 - 6,237 6,237 |
|---|---|---|---|
| 12,860 | |||
| 1,450 7,561 |
|||
| 9,011 | |||
| 109,351 | |||
| 114,072 | |||
| - | |||
| 7,677 | |||
| - 7,677 |
|||
| 7,677 |
Page 16