CHRIST APOSTOLIC CHURCH DEI TrIPTION CIIRISTIAN CENTRE 52 MEADWAY E4 NFllI LD MIDDLESEX EN3 6NX CHARITY REG 1129511 FINANCIAL STATEMENTS OII THE YLAR LNDLD 31s'r .VAARCH 2024
CHRIST APOSTOLIC CHURCH REDEMPTION CHRISTIAN CENfiiE FOR THE YEAR ENDED 31ST MARCH 2024 LEGAL AND ADMINISTRATIVI INFORMATION TRUSTEES: Pastor Yisa Olufeini Sanni (Chair) Evangelist (Mrs) Roseline A. Sanni-Ajose (Chaii.) Ms Bolakale Glace Olatunji Mr Koldwole Ajose Mi's Ogunsanya Olufunso SECRETARY: Ms Bolakale Grace Olatunji CHARITY NUMBER.. 1129511 BANKERS: (i) METRO BANK 18oirFHAMPTON ROW LONDON, WCIB SHA 121 LLOYDS TSB BANK PLC SILVER STREET. ENFIELD ACCOUNTANTS: DANIEL FAMOK & ASSOCIATES ACCOUNTANTS & fKNANCIAL CONSULTANTS UNIT 209, SECOND I-,LOOR TUDORLEAF BUStNESS CENTRE, 2-8 b'OUN'I'A YNL ROAD. LONL)ON NI54QL CONTFNT: I. TRUSTEES, REPORT 2. STA TEMETrrt OF FINANCIAL ACTIVITIES 3. BALANCE SHEET 4. NOTIS TO THE ACCOUNTS
tr*llEPlI NDENT II XAMtNlI R'S REI PORT TO THE TRUSTEES OF CEllUST APOSTOLIC CHURCH REDEMPTION CHRISTIAN CLtYTRE CIIARITY NUIMBER 1129511 I report on the Financial Stateinents of the Trust foi. the year ended 3 1st March 2024, which are set out on pages 3 to 9 below, RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER The chai'ity's trustees al'e responsible for the prepai'alKoti of the accounts. 'I'he chaiiws tru5tee5 consider that an audit is not requti'ed for this year uiidti. sectioa 43 (2) of the Cliai'sties Act 2011 (The 2011 Act) and that an independent examination is needed. It is Ihy responsibility 10 examine the accounts under ctIDll 43 of the 2011 Act, follow the procedures laid down in the general Directions given by the Chai'iry Cominission [ under section 43(7)Ib) l of the 2011 A¢t, and * state wliether pai1i¢ular niatters have c0je to my attentEon. BASIS OF INDE4 PENDEYI T EI XAMILYIR'S STATEIVIENT My examination was carried out in accordaiice M'ith the general Directions given by th¢ Charity Commission. An examitjation incltsdes a i'ewiew of the accounting recoi'ds kept by the Tivst and comparison of the accounts presented with (h05e iEcords. It also includ¢5 consideration of any unusual items or disclosuiE the accounts, and seekitjg expl&n&tÈons frojn the tsY]stee5 coi)cernii)g any such matters. The procedures undertaken do not provide all thc evidence that would be requiiEd in an alldit and con5eqiiently no opEnioai is giveii as to whethei. Ihe accounts present a'twc and fair, vi¢w and the repoit is limsted to ihose matters set out in the stateinent below. INDEPENDENT EXAMINER'S STATEMENT In Connection with my examination, no mELtter has comc to my attention :_ l) which gives nie r¢asonabl¢ cause to believe that En, 2ny niaterial i'espect, the requireinent5'. * to keep aOuntIng iecords in accordance with section 41 of the 2011 A¢t' and * to prepare accounts which accord with the accouiitliig I'ecords and comply accounting requirements of the 2011 Act have not been met. or 2) to hic the inm pinion, atte o be reached. n should be drawn in 01.der to enable a proper understai)ding MRD. AMAKIN I Msc, FCA I DANIEL FAMOK & ASSOCJATES ACCOUNTANTS & FINANC.IAI, C.OON.SIILTANTS UNIT 209 (SECOND FLOOR), TUDORLEAF BUSINLSS CENTRE 2-8 FOUNTAYNE ROAD, LONDON-NI5 4QL 30th Jalluary 2025
CHRIST IiPOSTOLIC CHURCH REI DEI MPTION CHIUSTIAN CENTRE STATETrIC< NT OF FINIINCIAL ACTIVITIES J'OR'I'HE YLAR LNDLD 31&iI' LVIARCH 2024 Unr¢5trict¢d Restrieted Funds Total 2024 Total 2023 Incoiiiiiig Resoiii'¢fI'op1l geKei'aledfiiKds Volunlwy ITKQffl F.]MRC GkftAid lax rcclaiins lJicoJ>iiii8 Re.Yoiii'cesfJ'oni Chaiilfjble AcliviiKs Oiher IA¢oniing ReJoiiF'ces 26,077 2,508 26,077 2,S08 25,937 6.522 19,940 19,940 9,975 Total lELCoting Resoui'ces 48,525 RfiSOtJRcfs EXPENDLD Chariloble Acli)iilies 30,404 30,404 38,640 Govep'nance calls 825 825 1,386 Total resource5 expended 31,229 40,026 NCT MOVEMENT IN FIINDS 17,297 17,297 2,408 ONC Total fuiids brought fonvard (12,585) 5,127 (7,459) (9,866) Total funds carried forward 4,712 S,127 9,839 (7,4591 There were no I'ecognised gaiiis or losses for the yeai. other than those included in the Statenient of financELI Activities. All incoming resoiirces and resolc¢S expended derve from continuing The notes OTJ Pages 5 to 9 form part of th¢s¢ accounts.
C.'IIIIIS'1' AIJO,4'1'LII..IC' C.'14L.'R('II 1111,'I)l-. Nlll'l l()NI C,'l.I IIISI'lIlN C'I.:N'-I 11 [.- 11,IIIL'H ?1124 Il.AlJJlNC'I.' ,SIILI,"T ,15 AI, .1 I.q' 2V2a 2Q2.3 -.IxI,.I) ,I%Sl::'I'S I'<iiiRilIlL I.-IXL(I As%LI% -3,1()4 C'IIRRI.:N'I- A%SI,"I'S %uiidry' l)ebioi's l 6,1172 77(1 Lb,SS CIII,'I)II'OIIS: Amvuiits lalllnkj due iTrilhin vn¢ I'emr 8871 7011 'LI' CURRLN'I IISSLI TS 13 CR£1 DITUIIS;_ IAniuui)Is falliiigy du¢ after Inore tlian OiiL ye&i') 147,157} 148.2791 TOTAL AssfiTS LESS I.IABIL,ITIES RI,:PRTr"SENTED BY: 2024 2023 RL%tricled F¢itidq UnrLsiricled Funds 5,127 4,712 9.839 5,127 112,5851 17,459) d nf Truslces on tlie 30111 Janii4ry 2025 sl¥ncd oil Its behall. b).. Paslvr l'isa ( uIL'mi .Saniii (Chair)
CHRIST APO.STOLIC CHURCH RIDCMPTION CHRISTIAN CENTRE NOTfk.S TO TIIF. filNANCIAJ, STATF.Mf.NTS FOR I'HI Y[4 AR EI NDEI D 31ST MARCH 2024 I. ACCOUNTING POLICIES The financial statements have been 'epared in accordance with the accounting policies set out in notes to the &ccount& Lumply willi Ilie chariigs governing doeumenl, the Charities Act 2011 and Accouniing and Rtporiing bychariiies.. steThI of RewMtlldQd Pracrice ISORPI applicfjbl¢ To charities epariEig their accoun15 In 1COrdanCe ivilli the Fa1]cial Reporting Sland&rd applicable in the UK ld Republic of Ireland published on 16th July 2014. 1.1 Incomiiig Resoiirecs olunt*r Income liicome fratt] tithe5 and offerings collected are included in voluntary incoming resources when the8c arc reccivabl¢. The National Lolter Communit Fund NLCF Grant and Other Ineome The Chaiity appli¢d and I'¢c¢ived granl for'iacwing the chall¢ng¢s of high living costs, Trrganised by the Natioiial L&)tleiy Commuiiily Fund (NLCF). Othei. Tncome Comprises miscellaneous income and are accounted for in the period in which it is entitled and iEecived. Gift Aid Tax Re metil Cl#im Tax repayments due from HM Revenue & Ciistoms in respect of members, giving are included in incotn&ng Itsources and restricted for building funds wheii received, Cash flow statement The Chttrity has taken advantage of the exemption in financial Reporting Standard No l fi'oin the Tequireinents to produce a casht]ow staiement on the gi'ounds that it qualifies as a sJn811 charity. 1.2 Re50urcu e ende Resoiirces expended al'e includd in the Staternent of Financial Activitie5 on accrual bases, inclusive of any Value Added Tax {VAT) which caiinot be i'eeovered. Certa expendittkre are ath'ibutable to specific activities and have been included iii those cost categoi'ies.
CHRIST APOSTOLIC CHURCH REDEMPTION CHRISTIAN CF.NTRE O-i'bS'1'U'I'IILI Ii'lNANCIAL S'I'A'I'L4 1VIEil.s CONTINUED FOR THE YEAR ENDED 31ST ARCH 2024 1.3 TAngible fiixed Assets for use by the charity and Deprceiatio Tangible fExed assets for use by the Ch&i'ity are stated at cost less depirciation. Depreciation is calculated to write off the ¢05t l¢ss ¢stim8ted irsidual value of fixed assets, ovei. theii. estiinated use] lives on the following basis.. Equipment and Insruments 25.kn per annuin. 2. CHARITABLE AcfIvITIES 2024 2023 Pastoral Allowances Evangelisin & Ovei'seas Missions Advert, Publicity & Media Honoraria and gifts Rent and Seivice Charges Donations to Other Chai'ilies M¢mbeis' Wclfare & Siipports Printing, Postage and Stationery Electricity and He&ting Travelling & Motor Fxpen5&5 Jnsiirance Premiums Iniernet aiid Web costs Hospitality, Refreshment & Event5 Secui'ity, Health and Cleaning Equipmcnt Repair & Reiiewals Depreeiatioii of fixed assets Telephone & fax 1.911 7,192 1,903 445 2,531 50 3,345 323 2,516 3,349 183 637 2,480 420 289 2.021 809 4,835 12,498 1,037 1,423 4,162 260 2,129 1,104 2,765 199 1,714 1,790 2,535 859 3. GOVERTrIANCE COSTS 2024 2023 Legal and Professional fees Accountancy and Independent examinations 325 500 825 886 500
CHRIST APOSTOLIC CHURCH IDEMPTION CHRISTIAJV CEIYTRC o"rL.%'I'v'i'llL F'INANCIAL SI'A TEMENTS C.ONTINiJf4.1) FOR THE YEAR E]4 D 3 1ST MARCH 2024 4. NFT MOVEMCENT IN FUNDS FOR THE YEAR 2024 2023 The neÉ moveinent in fijnds for the year is stated after chai'ging.. Depreciatioi) of tangible fixed ass¢tb- for use by the charity Accountancy Fee 2,021 500 1,687 500 S. TRUSTf4 ES, R No Tnistee has had expenses reiinbuiEed in the year. There 15 no staff whose emoluinents exceeded £60,000 duriiig the y¢ai' & TANGIBLE FIXE4 D ASSCITS MISSION'S r IIIPMEiYT 'I'AL 2024 TOTAL 2023 IANDS & DEII & FITtINGS Cost: As at 1st April 2023 Additions durillg the year As at 3 1st Mar¢h 2024 32101 30,530 481 62,631 481 59,241 3,390 62,631 Dcpreelation: As at 1st April 2023 Charged for the y¢ar As at 3 1st March 2024 22,926 2,021 24,947 22,926 2,021 24,947 20,391 2,535 22,926 Net Book Value At 31st Mareh 2024 Net Book Value At 315t March 2023 7,604 39,705 38,850 7. DEBTORS.. AMOLThT FALMNG I) JTHINONL YL 024 2023 Sundry Debtoi's 1,045 1045
CHRIST APOSTOLIC CHURCH REDE4 MPTION CHRISTIAN CENTRE N()'I'b&'I'O'I'14L II ItYANCIAL S'I'A'I'E4 MEI N'rs CONTINUED FOR TH[ YEAR EI NDED 3 1ST flARCH 2024 8. CREI DITORS.. A ILNVI'I'IIIN ONL YLIII 2024 2023 Other CJEditoig Accruals 200 687 887 200 500 700 9.CRlI Dl'l'ORS: Amounts fallin due be ond one ear 2023 2022 UK Busin¢ss Bounce Back (BBL) Loans 47.157 48.279 The BBL loan is the Bi'itish guaranleed loans granted ihrough UK banks to support business¢s aff¢cted by the harmful effects of the Covid-19 pandemic. The BBL lo3 are repayablL over 60 monihs at 2.5Q/D per annum (with inteiest accrual and loan repayments waived during the first twelve months). LO. RELAT£D PARTY TRANSACTIONS The Chai'ity has a very close relationship with Pastor Yisa Olufemi Sanni, who is the fathcr of Mrs Roseline Abimbola Sanni-Ajose (a ti'uslee). PAstor Yisa Sanni is the Minister-in-chaige of the Church and has received the Slim of £485 as ministerial allowance during the year ended 31 st March 2024. Pastor Yisa Sanni is oli full time service to the chilh and his ministcrial allowance was paid at at) ari)I's lengttl transactions and covers his local travelling, telephone expenses and dry cleaning of special robes irquired foi. the position. 11. UNREI STIUCTED FUNDS OF THf. CHARITY 2024 Balance as at Isl Api'il 2023 Movement in the funds for the year Balance as at 3 1st March 2024 112,5851 17.297 114,9931 2,408 12.5&5
CHRIST APOSTOLIC CHURCH REDEiiJpfJoiy CHRISTIAN CENTRE NO-I'L4 S'l'o'riik riINANCIAL STATEI ME,NTS CONTINuf,D FOR THE YEAR ENDED 31ST MARCH 2024 12. REI STRICTED FUP4DS Mi55ions TOL81 2024 Funds Balance as at 1st Api'il 2023 Movement in the tiinds for the yeai. Bal]ee as at 3 1st March 2024 5127 5127 5,127 S127 13. ANALYSIS ofi NET ASSEI TS BEI TWEIN FUNDS Uiire5tricted Re5trirteil Fiunds Tolal 2024 Tangible fixed assets Net Current Assets (14,119) 18,830 5,127 (8,992) 18.830