## **CITY CHAPEL**
**Charity No. 1128050**
**Company No. 06779509**
**Trustees' Report and Unaudited Accounts**
**30 November 2023**
**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 2023.
## **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 M.A. OPANIRAN (appointed May 2023)
O.O. OLONISAKIN (appointed June 2023)
## **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 for the first time in her history starting the Year in her own building and home.
The Pastors set up a group called the CORE TEAM which came alongside the Leaders to facilitate the weekly running of the Church affairs **.**
City Chapel as a community started the Year with our annual Corporate Fasting for the beginning of the year. The culture of coming into the building every Sunday had been hampered by Covid and we had to resort to several ideas to bring people back to Church!
The Church therefore adopted a hybrid model of In-person meetings on Sunday combined with Online Worship. The congregation gradually began to shift from 30%/70% in numbers to a 50/50 percentage.
We started the services in the smaller hall for the first part of the year and conducted a number of family friendly meetings to draw people back to Sunday Church services The Trustee’s Board was expanded to five members to address the matter of Trustee support for the Pastors and enable Operation involvement on a weekly basis.
By the second quarter of the year the Church attendance had stabilized and the combination of the daily online prayers and weekly Bible study helped to increase the number of members and donations.
The Core Team were given tasks and responsibilities over the various Departments which helped to create cohesion and focus. There were quarterly Worker’s meetings and new members were given tasks too.
Summer was filled with various events and activities that helped to consolidate the congregation. We held an Asian special service with over 50 -70 local Pakistanis, Indians and others attending!!
We began a conscious effort to increase the quality of our media. Selling off some historic equipment that was not being used to purchase a media suite for our Live-streaming and social media platforms. It was a long process which lasted for many months but eventually we got our new equipment.
With a year spent at Manor Park, City Chapel entered the ‘second year’ of the lease with a degree of cyclical stability and payment of monthly funds. We had saved up enough funds to begin the new season with the regular monthly payments.
This season was marked with preparation for the end of year programs, marriage event, prophetic evenings, special teaching series and the sensational Shine Your Light Christmas campaign.
It was in this season we took part in Shine Your Light. Shine Your Light saw over 78,000 Christians hit the streets across the UK and Ireland with endorsements from the Prime Minister, other politicians and virtually every main church denomination. Hundreds were impacted on the streets with new believers coming into the Kingdom and churches revitalized!
We ended the Year with our Watch Night Service as the building was packed with old and new members.
Page 3
**CITY CHAPEL TRUSTEES ANNUAL REPORT**
## **PLANS FOR FUTURE PERIODS**
In 2024, we intend to continue to stay at Manor Park and obtain a longer lease with the Methodist Church. We step into the New Year with greater Evangelistic zeal and fervour as we prepare for the Second.
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 28 August 2024
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 2023 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
30 August 2024
Page 6
**CITY CHAPEL STATEMENT OF FINANCIAL ACTIVITIES for the year ended 30 November 2023**
|**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**
**2023**
**£**
85,741
18,838|**Total funds**
**2023**
**£**
85,741
18,838|**Total funds**
**2022**
**£**
101,998
19,751|
|---|---|---|---|
||104,579
14,698
80,013|104,579
14,698
80,013|121,749
4,721
109,351|
||94,711|94,711|114,072|
||9,868|9,868|7,677|
||9,868|9,868|7,677|
||9,868
23,589|9,868
23,589|7,677
15,912|
||33,457|33,457|23,589|
Page 7
**CITY CHAPEL SUMMARY INCOME AND EXPENDITURE ACCOUNT**
## **for the year ended 30 November 2023**
|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**|**2023**
**£**
104,579
104,579
93,672
1,039
94,711
9,868
9,868|**2022**
**£**
121,749|
|---|---|---|
|||121,749|
|||112,845
1,227|
|||114,072|
|||7,677|
|||7,677|
Page 8
**CITY CHAPEL BALANCE SHEET**
## **for the year ended 30 November 2023**
|**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**|4,155
4,155
-
29,443
29,443
(141)
29,302
33,457
33,457
33,457
(71,122)
104,579
33,457
33,457|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|
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 2023 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 28 August 2024
And signed on its behalf by:
## O. SANUSI
Trustee 28 August 2024
Page 9
**CITY CHAPEL NOTES TO THE ACCOUNTS**
## **for the year ended 30 November 2023**
## **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**
**£**
53,808
18,812
5,700|**Total**
**Total**
**2023**
**2022**
**£**
53,808
**£**
28,268
18,812
16,136
5,700
57,594
78,320
101,998
**Total**
**Total**
**2023**
**2022**
**£**
**£**
25,931
19,730
328
21|
|---|---|---|
||78,320||
||**Unrestricted**
**£**
25,931
328
26,259
**Unrestricted**
**£**
14,698
-
14,698||
|||26,259
19,751|
|||**Total**
**Total**
**2023**
**2022**
**£**
**£**
14,698
3,768
-
953
14,698
4,721|
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.
9**Tangible fixed assets**
**Cost or revaluation**
At 1 December 2022
Additions
At 30 November 2023
**Depreciation and**
**impairment**
Depreciation charge for the
year
At 30 November 2023
**Net book values**
At 30 November 2023
At 30 November 2022|**£**
40,700
6,878
10,072
1,039
16,194
5,130
80,013
**2023**
**£**
1,039
-
-
|**Total**
**2023**
**£**
40,700
6,878
10,072
1,039
16,194
5,130|**Total**
**2022**
**£**
37,400
7,091
42,988
1,277
11,584
9,011|
|---|---|---|---|
|||||
|||80,013|109,351|
|||**£**
4,909
285|**2022**
**£**
1,277
-|
||||-|
||||**£**
4,909
285|
|||5,194|5,194|
|||1,039
1,039|1,039
1,039|
|||4,155|4,155|
|||4,909|4,909|
Page 13
**CITY CHAPEL NOTES TO THE ACCOUNTS**
## **10 Creditors:**
amounts falling due within one year
|||||**2023**|**2023**|||**2022**|
|---|---|---|---|---|---|---|---|---|
|||||**£**||||**£**|
||Other creditors|||141||||1,591|
|||||141||||1,591|
|**11**|**Movement in funds**||||||||
|||**At 1**|**other**||||||
|||**December**|**gains/**||||||
|||**2022**|**losses)**||||||
||||**£**||**£**||**£**|**£**|
||**Unrestricted funds:**||||||||
||**General funds**|23,589|-|(94,711)|||-|(71,122)|
||**Designated funds:**||||||||
||Offering|-|53,808|||-|-|53,808|
||Tithes|-|18,812|||-|-|18,812|
||Other Income|-|25,931|||-|-|25,931|
||Building Funds|-|5,700|||-|-|5,700|
||Interest|-|328|||-|-|328|
||_Total_|-|104,579|||-|-|104,579|
||**Revaluation Reserves:**||||||||
||**Total funds**|23,589|104,579|(94,711)|||-|33,457|
|12|**Analysis of net assets**|**between funds**|**Unrestricted**||||||
||||**funds**||||**Restricted**|**Total**|
||||||||**funds**||
|||||**£**|||**£**|**£**|
||Fixed assets|||4,155|||-|4,155|
||Net current assets|||23,170|||6,132|29,302|
|||||27,325|||6,132|33,457|
## 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 2023**
|**for the year ended 30 November 2023**||||
|---|---|---|---|
|
**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**
**2023**
**£**
53,808
18,812
5,700|**Total funds**
**2023**
**£**
53,808
18,812
5,700|**Total funds**
**2022**
**£**
28,268
16,136
57,594|
||78,320|78,320
25,931
328
26,259
104,579
14,698
14,698
-
-
14,698
40,700
40,700
6,878
6,878
10,072
10,072|101,998|
||25,931
328
26,259
104,579
14,698
14,698
-
-
14,698
40,700
40,700
6,878
6,878
10,072
10,072||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|
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**|1,039
573
365
7,430
-
9,868
1,513
1,596
4,717
15,256
1,550
3,580
5,130
80,013
~~94,711~~
~~-~~
9,868
9,868|1,039
573
365
7,430
1,513
1,596
4,717|1,277
165
330
4,993
1,370
277
4,499|
|---|---|---|---|
|||15,256|12,860|
|||1,550
3,580|1,450
7,561|
|||5,130|9,011|
|||||
|||80,013|109,351|
||||114,072
-|
|||||
|||~~94,711~~||
|||~~-~~||
|||9,868|7,677|
|||-
9,868|-
7,677
7,677|
|||9,868||
Page 16