Registered Charity Number 1128894
Christ Restoration International Centre Report and Accounts 31st December 2020
GA Corporate Consulting Limited 286 Moston Road Manchester M40 9WB
Christ Restoration International Centre Report and Accounts Contents
| Page | |
|---|---|
| Charity Information | 1 |
| Trustees Report | 2 |
| Statement of Trustees’ responsibilities | 3 |
| Accountants Report | 4 |
| Statement of Financial Activities | 5 |
| Income and Expenditure Account | 6 |
| Balance Sheet | 7 |
| Notes to the accounts | 8-9 |
Christ Restoration International Centre Charity Information
Trustees
Pastor Moses Adeniyi (Chair) Mr Idowu Oyewole Mr Femi Adaramewa Mr Matthew Babatunde
Independent Examiner
GA Corporate Consulting Limited Accountants, Tax and Business Consultants 286 Moston Lane Manchester M40 9WB
Registered office 42 Pentridge Street London SE15 6JE
Registered charity number 1128894
Christ Restoration International Centre
The report of the Trustees for the year ended 31 December 2020
Introduction
The trustees present their annual report and accounts for the year ended 31 December 2020.
Status
Christ Restoration International Centre is a registered charity under the charity number 1128894. It has no taxable activities and is therefore not liable to UK taxation. It is, however, unable to reclaim VAT on expenditure incurred.
Objectives
To advance the Christian faith religion in Greater London area and United Kingdom for the benefit of the public in accordance with proclaiming the gospel of Jesus Christ through the provision of Christian fellowship, worship, witness, action and service.
Organisational structure
The organisation is an independent charity. The Chair person shall be responsible for the control, management and direction in all matters of the charity upon the advice of the trustees {Advisory Board members} during the year.
Risks
The trustees have taken steps to establish the risks to which the charity is exposed and have put systems in place mitigate risks.
Review of the results
The trustees consider that the results set out on pages 5 to 7 are satisfactory. They believe the balance on the funds is sufficient to meet any future commitments.
Christ Restoration International Centre
The statement of trustees’ responsibilities for the year ended 31 December 2020
Statement of Trustees’ Responsibilities
Charity Law requires the Board to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity as at the end the financial year and of the surplus or deficit of the charity. In preparing those financial statements the Board is required: -
-
select suitable accounting policies and then apply them consistently;
-
make judgements and estimates that are reasonable and prudent; and
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business;
-
state whether applicable accounting standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements.
The trustees are also responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which are sufficient to show and explain the charity’s transactions and enable them to ensure that the financial statements comply with regulations made under the Charities Act. They 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.
The trustees are also responsible for the contents of the trustees’ report, and the responsibility of the independent examiner in relation to the trustees’ report is limited to examining the report and ensuing that, on the face of the report, there are no inconsistencies with the figures disclosed in the financial statements.
This report was approved by the Board of Trustees on …………………………….. and signed on its behalf by: -
Pastor Moses Adeniyi Chairperson
Christ Restoration International Centre
Independent Examiner’s Report to the Trustees of the charity
Report of the Independent Examiner to the Trustees on the accounts of the Charity for the year ended to 31 December 2020
I report on the financial statements of the Charity on pages 5 to 9 which have been prepared in accordance with the Charities Act 1993 and with the Financial Reporting Standard for Smaller Entities (FRSSE), effective January 2007, adopted to meet the needs of unincorporated organisations, as modified by the Statement of Recommended Practice for Accounting and Reporting issued by the Charity Commissioners for England & Wales, effective April 2005, revised in June 2008, under the historical cost convention and accounting policies.
Respective responsibilities of trustees and examiner
As described on page 4 , the Charity’s trustees are responsible for the preparation of the financial statements. The trustees consider that the audit requirement of Section 43(2) of the Charities Act 1993 (the Act) does not apply, and that there is no requirement in the governing document or constitution of the Charity for the conducting of an audit. It is my responsibility to state – on the basis of the procedures specified in the General Directions given by the Charity Commissioners for England and Wales under Section 43(7) (b) of the Act, whether particular matters have come to my attention.
Basis of opinion and scope of work undertaken
I conducted my examination in accordance with the General Directions given by the Charity Commissioners for England & Wales in relation to the conducting of an independent examination. An independent examination includes a detailed review of the accounting records kept the Charity and of the accounting systems employed by the Charity and a comparison of the financial statements with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeking explanations from you as trustees concerning such matters. The purpose of the examination is to establish as far as possible that there have been no breaches of the Charities legislation and that the financial statements comply with the Statement of Recommended Practice issued by the Charity Commissioners for England & Wales (effective April 2005), on a test basis, of evidence relevant to the amounts and disclosures in the financial statements.
The procedures undertaken do not provide all the evidence that would be required in an audit, and information supplied by the trustees in the course of the examination is not subjected to audit tests or enquiries, and consequently I do not express an audit opinion on the view given by the financial statements, and in particular, I express no opinion as to whether the financial statements give a true and fair view of the affairs of charity.
We planned and performed our examination so as to satisfy ourselves that the objectives of examination are achieved and before finalising the report we obtain written assurances from the trustees of all material matters.
Independent Examiner’s Statement, Report and opinion
Subject to the limitations upon the scope of my work as detailed above, 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 Section 41 of the Act; and to prepare financial statements which accord with the accounting records and to comply with the accounting requirements of the Act or of the Charities (Accounts and Reports) Regulations 2005 have not been met or
-
2) to which, in my opinion, attention should be drawn to enable a proper understanding of the accounts to be reached.
This report is in respect of an examination carried out under section 43 of the 1993 Act and in accordance with any directions given by the Commissioners under subsection (7)(b) of that section which are applicable.
Mr Gbade Adewuyi (BSc MSc ACIE) GA Corporate Consulting Limited (Accountants, Tax and Business Consultants)
286 Moston Lane Manchester M40 9WB
The date upon which my opinion is expressed is: -
Christ Restoration International Centre Statement of Financial Activities For the year ended 31 December 2020
| Notes INCOMING RESOURCES Voluntary Receipts Church Project Donations Total incoming resources LESS EXPENDITURE Direct charitable expenditure Church Project Expenses Administration expenditure Total resources expended NET SURPLUS (DEFICIT) FOR THE YEAR BALANCE BROUGHT FORWARD BALANCE CARRIED FORWARD |
2020 £ £ |
2020 £ £ |
2019 £ £ |
2019 £ £ |
|
|---|---|---|---|---|---|
| Restricted 80,000 |
General 60,000 |
Restricted | General 46,460 |
||
| 80,000 | 60,000 | 0 | 46,460 | ||
| 80,331 | 2,350 61,722 |
2,350 52,133 |
|||
| 80,331 | 64,072 | 0 | 54,483 | ||
| 0 (331) |
(4,072) 1,515 |
(8,023) 9,538 |
|||
| (331) | (2,557) | 0 | 1,515 |
Christ Restoration International Centre Statement of Financial Activities For the year ended 31 December 2020
ANALYSIS OF INCOME AND EXPENDITURE
| Voluntary Receipts Tithes and Offerings Church Project Donations Direct Charitable Expenditure Donations Food Administration Expenditure Accountancy Heat & light Printing & stationery Rent Service Charge Insurance Repairs and Maintenance Van expenses Travel expenses Telephone Cleaning Toiletries Council Tax Bank charges Church Project Expenses Depreciation NET SURPLUS/(DEFICIT) TOTAL FUNDS B/Fwd TOTAL FUNDS C/Fwd |
2020 | Total 60,000 80,000 140,000 2,350 0 2,350 300 788 1,800 47,588 3,976 585 504 1,417 201 255 169 535 2,986 88 0 530 142,053 (4,403) 1,515 (2,888) |
2019 | |||
|---|---|---|---|---|---|---|
| **General ** | Restricted | **Total ** | **General ** | Restricted | **Total ** | |
| 60,000 0 60,000 2,350 0 2,350 300 788 1,800 47,588 3,976 585 504 1,417 201 255 169 535 2,986 88 0 530 61,722 (4,072) 1,515 (2,557) |
0 80,000 80,000 0 80,331 80,331 (331) 0 (331) |
60,000 80,000 |
44,460 0 44,460 2,350 0 2,350 300 545 1,705 40,544 4,160 585 1,795 493 419 167 315 470 0 105 0 530 52,133 (8,023) 9,538 1,515 |
0 0 0 0 0 0 |
44,460 0 |
|
| 140,000 | 44,460 | |||||
| 2,350 0 |
2,350 0 |
|||||
| 2,350 | 2,350 | |||||
| 300 788 1,800 47,588 3,976 585 504 1,417 201 255 169 535 2,986 88 0 530 |
300 545 1,705 40,544 4,160 585 1,795 493 419 167 315 470 0 105 0 530 |
|||||
| 142,053 | 52,133 | |||||
| (4,403) | (8,023) | |||||
| 1,515 | 9,538 | |||||
| (2,888) | 1,515 | |||||
Christ Restoration International Centre Statement Of Assets And Liabilities as at 31 December 2020
| Notes FIXED ASSETS Tangible Assets 5 CURRENT ASSETS Debtors and prepayments Cash at bank and in hand LIABILITIES Amounts falling due within one year 4 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES CAPITAL AND RESERVES General funds 6 Restricted funds |
2020 £ £ |
2020 £ £ |
2019 £ £ |
2019 £ £ |
|
|---|---|---|---|---|---|
| 1,590 0 1,320 |
(7,713) | 2,120 0 2.880 |
|||
| 2,910 10,623 |
5,000 8,310 |
(3,310) | |||
| (7,713) | (3,310) | ||||
| (7,713) 0 |
(3,310) 0 |
||||
| (7,713) | (3,310) | ||||
Approved by the chairperson on .
Christ Restoration International Centre Notes to the Accounts
for the year ended 31 December 2020
1. ACCOUNTING POLICIES
Basis of accounting
The accounts have been prepared on the historical cost basis of accounting and in accordance with applicable accounting standards and comply with the Statement of Recommended Practice ‘Accounting by Charities’
Income
Income is accounted for on a receipt basis.
Tangible fixed assets and depreciation
Tangible fixed assets are stated in the balance sheet at cost less depreciation.
Depreciation has been provided on tangible fixed assets to write off their costs less estimated residual value over their expected useful lives, as follows: -
Plant and machinery 10% on Straight Line Basis Motor Van 10% on Straight Line Basis
Taxation
As a registered charity, the company is exempt from income and corporation tax to the extent that its income and gains are applicable to charitable purposes only. Value added tax is not recoverable by the company, and is therefore included in the relevant costs in the statement of financial activities.
2. WINDING UP OR DISSOLUTION OF THE CHARITY
If upon winding up or dissolution of the charity there remain any assets, after the satisfaction of all debts and liabilities, the assets represented by the accumulated fund shall be transferred to some other charitable body or bodies having similar to the charity.
3. STATEMENT THAT NO EXPENSES WERE PAID TO TRUSTEES OR CONNECTED PERSONS
No expenses were paid to the trustees or persons connected with them. Neither the trustees nor any persons connected with them have received any remuneration in the current year.
Christ Restoration International Centre Notes to the Accounts
for the year ended 31 December 2020
| 4. CREDITORS Amounts falling due within one year Independent Examiners fee Rent Printing Other creditors Church Project Creditors 5. TANGIBLE FIXED ASSETS COST At 1 January 2020 Additions As 31 December 2020 DEPRECIATION At 1 January 2020 Charge for the year As 31 December 2020 NET BOOK VALUE At 31 December 2020 At 31 December 2019 6. ACCUMULATED FUNDS Balance at 1 January 2020 Net Surplus/(Deficit) Balance at 31 December 2020 |
2020 2019 0 0 0 0 283 920 1,390 7,390 8,950 |
|---|---|
| 10,623 8,310 |
|
| MV TOTAL £ £ 5,300 5,300 0 0 |
|
| 5,300 5,300 |
|
| 3,180 3,180 530 530 |
|
| 3,710 3,710 |
|
| 1,590 1,590 |
|
| 2,120 2,120 |
|
| GENERAL FUNDS RESTRICTED FUNDS TOTAL £ £ (3,310) 0 (3,310) (4,072) (331) (4,403) |
|
| (7,382) (331) (7713) |