Electronically signed using Capium on 25/04/2025 at 08:54:42 AM
CITY CHAPEL
Charity No. 1128050
Company No. 06779509
Trustees' Report and Unaudited Accounts
30 November 2024
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 2024.
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
O.O. OLONISAKIN
Accountants
Vicom Accountancy Services Ltd Kemp House 128 City Road EC1V 2NX
Page 2
CITY CHAPEL TRUSTEES ANNUAL REPORT
ACHIEVEMENTS AND PERFORMANCE
The year started with THY KINGDOM COME, a prayer and evangelism theme that would run through everything we did. We also called this year “The Season of Experimentation” as we prepared to structure the Church around discipleship.
The year began with our annual month of prayer and fasting, themed 21 Days of Prayer and Fasting— Thy Kingdom Come, with various Ministers internal and external. All services were online, and The Gathering’s first Sundays were relocated to Premier Inn Beckton.
Our Easter Service was held on the last day of March, and we also held our first Women’s only service early in the month!
May witness our second Men’s only service whilst the Jesus series was getting very popular.
The Leadership trams in City Chapel settled into a good rhythm of prayer online and in person, as well as weekly meetings in addition to the daily prayers. The consistent daily praying and emphasis on the Scriptures are what makes City Chapel unique.
City Chapel took part in the very successful SHINE YOUR LIGHT as hundreds gathered at Europe’s largest Shopping mall Westfield to sing carols and preach the Gospel on the streets!!
City Chapel ended its second year at Manor Park with hundreds attending the Watchnight service. The Methodist church had notified City Chapel about a substantial rental increase which began with several negotiations and conversations.
All in all, it was another progressive year for the Church as she began to pray and seek the face of God for a new venue.
PLANS FOR FUTURE PERIODS
In 2025, We step into the New Year with greater Evangelistic zeal and fervour.
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
Toyosi Sanusi O. SANUSI
Trustee 14 April 2025
Page 3
CITY CHAPEL INDEPENDENT EXAMINERS REPORT
Independent Examiner's Report
I report on the accounts of CITY CHAPEL for the year ended 30 November 2024 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;
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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:
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(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,
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have not been met: or
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(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
16 April 2025
Page 4
CITY CHAPEL STATEMENT OF FINANCIAL ACTIVITIES for the year ended 30 November 2024
| 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 2024 £ 113,162 9,943 |
Total funds 2024 £ 113,162 9,943 |
Total funds 2023 £ 85,741 18,838 |
|---|---|---|---|
| 123,105 19,532 109,156 |
123,105 19,532 109,156 |
104,579 14,698 80,013 |
|
| 128,688 | 128,688 | 94,711 | |
| 9,868 | |||
| (5,583) | (5,583) | ||
| (5,583) | 9,868 | ||
| (5,583) | |||
| (5,583) 33,457 |
(5,583) 33,457 |
9,868 23,589 |
|
| 27,874 | 27,874 | 33,457 |
Page 5
CITY CHAPEL SUMMARY INCOME AND EXPENDITURE ACCOUNT
for the year ended 30 November 2024
| 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 |
2024 £ 123,105 123,105 127,189 1,499 128,688 (5,583) (5,583) |
2023 £ 104,579 |
|---|---|---|
| 104,579 | ||
| 93,672 1,039 |
||
| 94,711 | ||
| 9,868 | ||
| 9,868 |
Page 6
CITY CHAPEL BALANCE SHEET
for the year ended 30 November 2024
| Fixed assets Tangible assets Current assets Debtors Cash at bank and in hand Creditors:Amount falling due within one year 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 Designated funds Reserves Total funds 8 9 10 10 |
5,996 5,996 - 21,878 21,878 - 21,878 27,874 27,874 27,874 (95,231) 123,105 27,874 27,874 |
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 |
|---|---|---|
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 2024 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 14 April 2025
And signed on its behalf by:
Toyosi Sanusi
O. SANUSI
Trustee 14 April 2025
Page 7
CITY CHAPEL NOTES TO THE ACCOUNTS
for the year ended 30 November 2024
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 8
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 9
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 |
Unrestricted £ 53,437 37,663 2,715 |
Total Total 2024 2023 £ 53,437 £ 53,808 37,663 18,812 2,715 5,700 93,815 78,320 Total Total 2024 2023 £ £ 28,880 25,931 410 328 |
|---|---|---|
| 93,815 | ||
| Unrestricted £ 28,880 410 29,290 Unrestricted £ 19,532 19,532 |
||
| 29,290 26,259 |
||
| Total Total 2024 2023 £ £ 19,532 14,698 19,532 14,698 |
Page 10
CITY CHAPEL NOTES TO THE ACCOUNTS
6 Other expenditure
Unrestricted
| Pastors’ Allowances Motor and travel costs Premises costs Depreciation General administrative costs Legal and professional costs 7 Net income/(expenditure) before transfers This is stated after charging: Depreciation of owned fixed assets Tangible fixed assets Cost or revaluation At 1 December 2023 Additions At 30 November 2024 Depreciation and impairment Depreciation charge for the year At 30 November 2024 Net book values At 30 November 2024 At 30 November 2023 8 |
£ 39,019 6,434 36,667 1,499 2024 £ 1,499 18,798 6,739 109,156 |
Total 2024 £ 39,019 6,434 36,667 1,499 18,798 6,739 |
Total 2023 £ 40,700 6,878 10,072 1,039 16,194 5,130 2023 £ 1,039 80,013 |
|---|---|---|---|
| 109,156 | |||
| £ 4,155 3,340 |
|||
| £ 4,155 3,340 7,495 1,499 1,499 5,996 4,155 |
|||
| 7,495 | |||
| 1,499 1,499 |
|||
| 5,996 | |||
| 4,155 | |||
Page 11
CITY CHAPEL NOTES TO THE ACCOUNTS
9 Creditors:
amounts falling due within one year
| Y CHAPEL ES TO THE ACCOUNTS reditors: mounts falling due within one year |
||
|---|---|---|
| Other creditors | 2024 £ - - |
2023 £ 141 |
| 141 |
| Unrestricted funds: General funds Designated funds: Offering Tithes Other Income Building Funds Interest Total Revaluation Reserves: Total funds 10 Movement in funds |
33,457 - - - - - - 33,457 At 1 December 2023 |
- (128,688) - (95,231) 53,437 - - 53,437 37,663 - - 37,663 28,880 - - 28,880 2,715 - - 2,715 410 - - 410 123,105 - - 123,105 123,105 (128,688) - 27,874 Incoming resources (including other gains/ losses) £ Resources expended £ Gross transfers £ At 30 November 2024 £ |
|---|---|---|
| 123,105 | ||
| 123,105 |
11 Analysis of net assets between funds
| Fixed assets Net current assets Analysis of net assets between funds |
Unrestricted funds £ 5,996 21,878 27,874 |
Total £ 5,996 21,878 |
|---|---|---|
| 27,874 |
12 Related party disclosures
Controlling party
The company is limited by guarantee and has no share capital; thus no single party controls the company.
Page 12
CITY CHAPEL DETAILED STATEMENT OF FINANCIAL ACTIVITIES
for the year ended 30 November 2024
| for the year ended 30 November 2024 | |||
|---|---|---|---|
Income from: Donations Offering Tithes Building Funds Other Other Income Bank Interest Total income Expenditure on: Charitable activities Charitable activities Total of expenditure on charitable activities Employee costs Pastors’ Allowances Motor and travel costs Travel and Motor expenses Premises costs Rent |
Unrestricted funds 2024 £ 53,437 37,663 2,715 |
Total funds 2024 £ 53,437 37,663 2,715 |
Total funds 2023 £ 53,808 18,812 5,700 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 |
| 93,815 | 93,815 28,880 410 29,290 123,105 19,532 19,532 19,532 39,019 39,019 6,434 6,434 36,667 36,667 |
||
| 28,880 410 29,290 123,105 19,532 19,532 19,532 39,019 39,019 6,434 6,434 36,667 36,667 |
Page 13
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 Repair & Maintenance 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. |
1,499 145 382 5,262 - (5,583) 941 4,556 1,229 6,283 20,297 1,620 5,119 6,739 128,688 - (5,583) (5,583) ~~109,156~~ |
1,039 145 382 5,262 941 4,556 1,229 6,283 |
1,039 573 365 7,430 - 9,868 1,513 1,451 145 4,717 17,233 1,550 3,580 5,130 94,711 - 9,868 9,868 80,013 |
|||
|---|---|---|---|---|---|---|
| 20,297 | ||||||
| 1,620 5,119 |
||||||
| 6,739 | ||||||
| ~~109156~~ | ||||||
| ~~,~~ | ||||||
| 128,688 - |
||||||
| (5,583) | ||||||
| - (5,583) |
||||||
| (5,583) |
Page 14