Christ Apostolic Church Dynamic Christian Centre
Report and financial statement for the year ended 31 July 2024
Charity Registration No: 1130852
| Christ Apostolic Church | ||
|---|---|---|
| Dynamic Christian Centre | ||
| Financial statements for the year ended 31 July 2024 | ||
| Contents | Page | |
| Charity information | ||
| Trustees' annual report | 1 | - 3 |
| Statement of trustees responsibilities | 4 | - 6 |
| Independent accountants report | 7 | - 8 |
| Funds statements | ||
| Statement of financial activities | 9 | |
| Balance Sheet | 10 | |
| Notes to the accounts | 11 - | 19 |
Christ Apostolic Church Dynamic Christian Centre Trustees' annual report for the year ended 31 July 2024
The trustees present their report and accounts for the year ended 31 July 2024
Legal and administrative information
| Charity name: | Christ Apostolic Church |
|---|---|
| Dynamic Christian Centre | |
| Charity registration number: | 1130852 |
| Registered office and | 62 Howbury |
| operational address: | Erith |
| Kent | |
| DA8 2DR | |
| Principal operating address: | 59b Leytone road |
| Stratford | |
| London | |
| E15 1JA | |
| Trustees: | Ademoal Johnson Rotimi |
| Taiwo Fadiora | |
| Abiodun Hezikiah Olawunmi | |
| Accountants: | MC Alpha Consulting Limited |
| (A firm of Chartered Accountants) | |
| Unit 2, Concord House | |
| Dartford | |
| DA1 1UP | |
| Bankers: | HCBC Bank Plc |
| Deptford High Street | |
| London | |
| SE8 4DR |
Page 1
Christ Apostolic Church Dynamic Christian Centre Trustees' annual report for the year ended 31 July 2024
Objects and activities of the charity
The purposes of the charity as set out in its governing document
1. The advancement of the Christian religion worldwide and
- The relief of poverty.
It pursues these objects by the operation of a Christian worship centre at a facility located at 59b Leyton Road, Stratford London E15 1JA. It also organises special training and mentoring activities for the unemployed, people planning to start their own businesses and runs general information centre for the public community.
The main activities undertaken in relation to those purposes during the year.
Significant activities that contributed to the achievement of these objectives were: 1. Events organised during the year to promote the Christian faith include distribution of leaflets with Christian messages, organising deliverance services, all night vigils, special prayers and counselling.
-
Other activities to help raise the profile of the charity in the local community included picnics, Mothers' Day and Fathers' Day celebrations.
-
Specific activities for the relief of poverty are in the areas of training and mentoring of the members and the community in starting up businesses and raising families.
The main activities undertaken during the year to further the charity's purpose for the public benefit.
The trustees have complied with the duty in Section 4 of the Charities Act 2006 and paid due regard to public benefit when preparing this report. The benefit provided to the public is consistent with the aims of the charity in the United Kingdom.The trustees have had regard to the Charity Commission's guidance on public benefit in managing the activities of the charity.
The contribution of volunteers during the year.
The church is grateful for the commitment and efforts of its volunteers who are involved in services provision especially during the pandemic period. The church has over 39 volunteers committed to working in various departments within .the church. The church continues to dispense the service of heads of departments and ministers to ensure that the best value is derived from the sterling efforts of the volunteers.
Grant making policies and how these contributed to the achievement of the charity's aims and objectives during the year.
Grants are made to other charitable bodies. The church supports missionary organisations such as the Christ Apostolic Church mission and other missions and projects within and outside the UK. The church also provides support to members of the congregation (at the discretion of the trustees) who are in need.
The main achievements and performance of the charity during the year.
The trustees are pleased to report that the church continued to be successful spiritually by ministering to many people in prayer and welfare. The church has improved in membership strength and is increasingly reaching out to the community.
Page 2
Christ Apostolic Church
Dynamic Christian Centre
Trustees' annual report for the year ended 31 July 2024
Structure, governance and management of the charity
The methods used to recruit and appoint new charity trustees.
New trustees are elected on the basis of the contribution that they will make to the governance of the organisation and the skills that they will contribute. They are provided with copies of the Charity Commission's guidance and given an introduction to the activities of the charity by the existing board.
The charity's organisational structure.
The board of trustees is headed by a Chairman, the Secretary to the trust and a Financial administrator. All the present employees of the charity are voluntary workers. The trustees are responsible for making all decisions regarding allocation of fund and activities.
| Bankers | HCBC Bank Plc |
|---|---|
| Deptford High Street | |
| London | |
| SE8 4DR | |
| Accountants | MC Alpha Consulting Limited |
| (A firm of Chartered Accountants) | |
| Unit 2, Concord House | |
| Dartford | |
| DA1 1UP |
Financial review
The charity's financial position at the end of the year ended 31 July 2024
The financial position of the charity at 31 July 2024 and comparatives for the prior period, as more fully detailed in the accounts, can be summarised as follows:-
| Net income Unrestricted revenue funds available for the general purposes of the charity Restricted revenue funds Total funds |
2024 2023 £ £ 41,699 50,952 |
|---|---|
| 12,700 19,807 - - |
|
| 12,700 19,807 |
Financial review of the position at the reporting date, 31 July 2024.
During the year, income of £41,699 (£50,952 in 2023) was received as voluntary donations. The excess of income over expenditure for the year, as shown in the statement of financial activities was -£7,107 (£2,070 in 2023). The value of the Christ Apostolic Church - Dynamic Christian Centre’s net assets as at 31 July 2024 is £12,700 (£19,807 in 2023).
Page 3
Christ Apostolic Church Dynamic Christian Centre Trustees' annual report for the year ended 31 July 2024
The major risks to which the charity is exposed and reviews and systems to mitigate them.
The trustees have assessed the major risks to which the charity is exposed, in particular those related to operations and finances of the charity, and are satisfied that systems are in place to mitigate against exposures to the major risks.
Details of the independent examiner
MC Alpha Consulting Limited (A firm of Chartered Accountants) Unit 2, Concord House Dartford DA1 1UP
Page 4
Christ Apostolic Church
Dynamic Christian Centre Trustees' annual report for the year ended 31 July 2024
Statement of the trustees' responsibilities.
The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Companies Act 2006, the Charities Act 2011 and the Charities (Accounts and Reports) Regulations 2008. Notwithstanding the explicit requirement in the extant statutory regulations, the Charities (Accounts and Reports) Regulations 2008, to prepare the financial statements in accordance with the SORP 2005, in view of the fact that the SORP 2005 has been withdrawn, the trustees determined to interpret this responsibility as requiring them to follow current best practice and prepare the accounts according to the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the bulletin issued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019).
In particular, the Companies Act 2006 and charity law require the Board of Trustees 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 of the financial year and of the surplus or deficit of the charity. In preparing those financial statements, the trustees are required to:
-
to prepare the accounts in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).
-
select suitable accounting policies and apply them consistently;
-
make judgements and estimates that are reasonable and prudent;
-
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 law requires that the trustees must not approve the accounts unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the surplus or deficit of the charity for the year.
The trustees are also responsible for maintaining adequate 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 the Companies Act 2006 and 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 statutory responsibility of the Independent examiner in relation to the trustees' report is limited to examining the report and ensuring that, on the face of the report, there are no material inconsistencies with the figures disclosed in the financial statements.
Page 5
Christ Apostolic Church Dynamic Christian Centre Trustees' annual report for the year ended 31 July 2024
The financial statements have been prepared implementing the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), and in accordance with the Financial Reporting Standard 102, (effective 1st January 2016).
This report was approved by the board of trustees on 27 May 2025
By order of trustees:
Mr Abiodun Hezekiah Olawunmi
Page 6
Christ Apostolic Church Dynamic Christian Centre Report of the independent examiner to the trustees of the charitable company on the accounts for the year ended 31 July 2024
I report to the trustees on my examination of the financial statements of the charity on pages 9 to 10 for the year ended 31 July 2023 which have been prepared in accordance with the Charities Act 2011 (the Act) and with the Financial Reporting Standard 102, (effective 1st January 2016) as modified by FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the bulletin issued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019 (The SORP), published by the Charity Commission in England & Wales (CCEW), and under the historical cost convention and the accounting policies set out on pages 11 and 17.
The trustees consider that the audit requirement of Section 144(1) of the Charities Act 2011 (the Act) does not apply, and that there is no requirement in the memorandum and articles of the charity for the conducting of an audit, and that the accounts do not require an audit in accordance with Part 16 of the Companies Act 2006 and that no member or members have requested an audit pursuant to Section 476 of the Companies Act 2006. As a consequence, the trustees have elected that the financial statements be subject to independent examination.
Having satisfied myself that the financial statements are not required to be audited under any legal provision, or otherwise, and are eligible for independent examination, it is my responsibility to:a) examine the financial statements of the charity under Section 145 of the Act; b) follow the applicable procedures in the Directions given by the Charity Commission under section 145(5)(b) of the Act.
Basis of independent examiner's statement and scope of work undertaken
I report in respect of my examination of the charity's financial statements carried out under s145 of the Act. In carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act setting out the duties of an independent examiner in relation to the conducting of an independent examination. An independent examination includes a review of the accounting records kept by the charitable company and of the accounting systems employed by the charitable company and a comparison of the financial statements presented 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 charity legislation and that, on a test basis of evidence relevant to the amounts and disclosures made, the financial statements comply with the SORP.
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 does not cover all the matters that an auditor would consider in arriving at an opinion. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide.
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 the charity, and my report is limited to the matters set out in the statement below.
I planned and performed my examination so as to satisfy myself that the objectives of the independent examination are achieved and before finalising the report I obtained written assurances from the trustees of all material matters.
Page 7
Christ Apostolic Church
Dynamic Christian Centre Report of the independent examiner to the trustees of the charitable company on the accounts for the year ended 31 July 2024
Independent examiner's statement, report and opinion
Subject to the limitations upon the scope of my work as detailed above, I have completed my examination: and can confirm that:-
This is a report in respect of an examination carried out under 145 of the Act and in accordance with directions given by the Charity Commission under section 145(5)(b) of the Act which may be applicable and that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
accounting records were not kept in respect of the charity as required by Section 130 of The Charities Act 2011;
the financial statements do not accord with those records; or
the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in section 396 of the Companies Act 2006 other than any requirement that the accounts give a'true and fair' view, which is not a matter considered as part of an independent examination;
the financial statements have not been prepared in accordance with the methods and principles set out in the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the bulletin issued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
MC Alpha Consult Limited
(A firm of Chartered Accountants)
Unit 2, Concord House Dartford Kent DA1 1UP
27 May 2025
Page 8
Christ Apostolic Church Dynamic Christian Centre Statement of financial activities for the year ended 31 July 2024
Statement of financial activities (including Income and expenditure account for the year ended 31 July 2024)
| Notes Incoming and endowments from: Donations and legacies 2 Other Total income Expenditure on: Cost of generating funds Cost of generating voluntary income 3 Charitable activities 4 Governance costs 5 Total resources expended Net incoming resources before other recognised gains Total funds brought forward Surplus of income over expenditure Balance at the end of the year |
Current year Unrestri cted Funds Current year Restricted Funds Current year Total Funds Prior year Total Funds £ £ £ £ 41,635 - 41,635 38,181 63 63 12,771 |
|---|---|
| 41,699 - 41,699 50,952 46,844 - 46,844 45,956 962 - 962 1,926 1,000 - 1,000 1,000 |
|
| 48,806 - 48,806 48,882 19,807 - 19,807 17,737 (7,107) - (7,107) 2,070 |
|
| 12,700 - 12,700 19,807 |
The statement of financial activities includes all gains and losses in the year. All incoming resources and resources expended derive from continuing activities.
The notes attached on pages 11 to 18 form an integral part of these accounts.
Page 9
Christ Apostolic Church Dynamic Christian Centre
Statement of financial activities
| Balance sheet as at 31 July 2024 | 2023 £ 64 |
|
|---|---|---|
| Notes Fixed assets Tangible fixed assets 6 Current assets Gift aid claimable Debtors: amounts falling due within one year 7 Cash at bank and in hand 8 Creditors:amount falling due within one year 9 Net current assets Total assets less current liabilities Accumulated funds Unrestricted funds - Brought forward - Current year Total funds |
2024 £ - - 5,816 14,409 20,225 (7,525) 12,700 12,700 19,807 (7,107) 12,700 |
|
| 64 5,816 21,452 |
||
| 27,268 (7,526) |
||
| 19,743 | ||
| 19,807 | ||
| 17,737 2,070 |
||
| 19,807 |
The financial statements were approved by the board on 27 May 2025 and signed on its behalf by:
Mr Abiodun Hezekiah Olawunmi
Signature:_____
Date:_________
Page 10
Christ Apostolic Church Dynamic Christian Centre Notes to the accounts for the year ended 31 July 2024
1. Accounting policies
Policies relating to the production of the accounts.
Basis of preparation and accounting convention
The accounts have been prepared on the accruals basis, under the historical cost convention, and in accordance with the Financial Reporting Standard 102, (effective 1st January 2016) and FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin iss ued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), published by the Charity Commission in England & Wales (CCEW), effective January 2016, and in accordance with all applicable law in the charity's jurisdiction of registration, except that the charity has prepared the financial statements in accordance with the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), in preference to the previous SORP, the SORP 2005, which has been withdrawn, notwithstanding the fact that the extant statutory regulations, the Charities (Accounts and Reports) Regulations 2008 refer explicitly to the SORP 2005. This has been done to accord with current best practice.
Going concern
The charitable activities are entirely dependent on continuing grant aid and voluntary donations as well as trading revenues. As a consequence, the going concern basis is dependent on the future flow of these uncertain funding streams. Accordingly, the Trustees have obtained forecasts and, after reviewing the financial forecasts for future periods to 31 July 2024, the Trustees are satisfied that, at the time of approving the financial statements, it is appropriate to adopt the going concern basis in preparing the financial statements. Other than these matters, the Trustees are not aware of any material uncertainites about the charity's ability to continue as a going concern.
Policies relating to categories of income and income recognition.
Nature of income
Gross income represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Income from exchange transactions is where the charity receives value from the donor without providing equal value in exchange, and includes donations of money, goods and services freely given without giving equal value in exchange.
Income from non exchange transactions is where the charity receives value from the donor without providing equal value in exchange, and includes donations of money, goods and services freely given without giving equal value in exchange.
Page 11
Christ Apostolic Church Dynamic Christian Centre Notes to the accounts for the year ended 31 July 2024
Income recognition
Income, whether from exchange or non exchange transactions, is recognised in the statement of financial activities (SOFA) on a receivable basis, when a transaction or other event results in an increase in the charity’s assets or a reduction in its liabilities and only when the charity has legal entitlement, the income is probable and can be measured reliably.
Dividends are accrued when the shareholder’s right to receive payment is established.
Income subject to terms and conditions which must be met before the charity is entitled to the resources is not recognised until the conditions have been met.
All income is accounted for gross, before deducting any related fees or costs.
Policies relating to expenditure on goods and services provided to the charity.
Accounting for deferred income and income received in advance
Where terms and conditions relating to income have not been met or uncertainty exists as to whether the charity can meet any terms or conditions otherwise within its control, income is not recognised but is deferred as a liability until it is probable that the terms or conditions imposed can be met.
Any grant that is subject to performance-related conditions received in advance of delivering the goods and services required by that condition, or is subject to unmet conditions wholly outside the control of the recipient charity, is accounted for as a liability and shown on the balance sheet as deferred income. Deferred income is released to income in the reporting period in which the performance-related or other conditions that limit recognition are met.
When income from a grant or donation has not been recognised due to the conditions applying to the gift not being wholly within the control of the recipient charity, it is disclosed as a contingent asset if receipt of the grant or donation is probable once those conditions are met.
Where time related conditions are imposed or implied by a funder, then the income is apportioned to the time periods concerned,and, where applicable, is accounted for as a liability and shown on the balance sheet as deferred income. When grants are received in advance of the expenditure on the activity funded by them, but there are no specific time related conditions, then the income is not deferred.
Any condition that allows for the recovery by the donor of any unexpended part of a grant does not prevent recognition of the income concerned, but a liability to any repayment is recognised when repayment becomes probable.
Income from legacies
Income from legacies is recognised when the charity has sufficient evidence that a gift has been left to them, that where required, probate has been granted, the executor is satisfied that the property in question will not be required to satisfy claims in the estate, that it is probable that the amount will be received by the charity, and the amount to be received can be estimated with sufficient accuracy, and that any conditions attached to the legacy are either within the control of the charity or have been met.
Where a payment is received from an estate or is notified as receivable by the executors after the reporting date and before the accounts are authorised for issue but it is clear that the payment had been agreed by the executors prior to the end of the reporting period, then the amount concerned is treated as an adjusting event and accrued as income in the accounting period if receipt is probable.
Page 12
Christ Apostolic Church
Dynamic Christian Centre Notes to the accounts for the year ended 31 July 2024
Where the charity has established entitlement to a legacy but there is uncertainty as to the amount of the payment, details of the legacy aredisclosed as a contingent asset until the criteria for income recognition are met. Where a legacy is subject to the interest of a life tenant, the legacy is not recognised as income until the death of the life tenant.
If it is doubtful that full settlement of a legacy debtor will be received, then an adjustment is made to reduce the amount of the legacy debtor and legacy income rather than charging the adjustment as expenditure in the Statement of Financial Activities
Gift Aid Donations from subsidiaries
FRS 102 requires gift aid payments from subsidiaries to be accounted for consistently with dividends. FRS 102 requires dividends to be recognised when the shareholder’s right to receive payment is established. The parent charity’s right to receive payment is established when the subsidiary has a legal obligation to distribute its profits to its owners at the reporting date. Therefore, the gift aid payment is not accrued in these individual accounts of the parent charity unless a legal obligation for the subsidiary to make the payment exists at the reporting date.
Donated goods, facilities and services
Donated fixed assets are recognised at the current fair value. All such donations are recognised as donation income, and debited to fixed assets.
Donated goods that are not fixed assets are accounted for at a fair value, unless it is impractical to reliably measure the value of the donated items. In the absence of any direct evidence of fair value of donated goods, then a value is derived from the cost of the item to the donor or, in the case of goods that are expected to be sold, the estimated resale value after deducting any anticipated costs of sales.
If it is impracticable to measure the fair value of goods donated for resale, or the costs of valuation outweigh the benefits, the donated goods are recognised as income when sold, with an equivalent amount being recognised as an expense. The costs of goods donated for distribution to beneficiaries is deemed to be the fair value of those goods upon receipt. When the goods are distributed freely or for a nominal consideration, then the carrying amount is adjusted at the time of sale, to the value at the point of distribution and the adjustment is shown as a cost of donations made.
The carrying amount of any stock held for distribution is assessed for impairment at the reporting date. All don ated goods are recognised as donation income, and debited to trading stock.When trading stock is subsequently sold, or appropriated to meet an expense, then the carrying value of the stock is recognised as an exp ense. In accordance with the SORP, goods donated for distribution to beneficiaries, or for consumption by the charity are included in 'legacies and donations'. Goods donated for resale are included in 'Income from other trading activities'
The cost of any stock of goods donated for distribution to beneficiaries is deemed to be the fair value of those gifts at the time of their receipt. If the goods held are to be distributed freely or for a nominal consideration, then the carrying amount is subsequently adjusted to reflect the lower of deemed cost adjusted for any loss of service potential and replacement cost. Replacement cost is the economic cost incurred if the charity was to replace the service potential of the donated goods at its own expense in the most economic manner
Donated services and facilities (including seconded staff and use of property) are included in the accounts on the basis of the value of the gift to the charity.
All donated services and facilities are recognised as donation income when received,(provided the value of the gift can be measured reliably) and recognised as an expense with an equivalent value.
Membership subscriptions
The income and any associated Gift Aid or other tax refund from a membership subscription received by the charity in the nature of a gift, is accounted for on the same basis as a donation.
The income from a membership subscription received by the charity where the subscription purchases the right to services or benefits is recognised as income from charitable activities.
Page 13
Christ Apostolic Church Dynamic Christian Centre Notes to the accounts for the year ended 31 July 2024
Policies relating to expenditure on goods and services provided to the charity.
Volunteers
In accordance with the SORP, and in recognition of the difficulties in placing a monetary value on the contribution from volunteers, the contribution of volunteers is not included within the income of the charity. However, the trustees value the significant contribution made to the activities of the charity by unpaid volunteers and this is described more fully in Note4
Policies relating to assets, liabilities and provisions and other matters.
Tangible fixed assets
Tangible fixed assets are measured at their original cost value, or subsequent revaluation, or if donated, as described above. Cost value includes all costs expended in bringing the asset into its intended working condition.
Depreciation has been provided at the following rates in order to write off the assets to their anticipated residual value over their estimated useful lives.
| Musical equipment | 20% straight line |
|---|---|
| Computer projector | 20% straight line |
| Motor vehicle | 20% straight line |
A regular annual review of the likelihood of asset impairment is undertaken.
Page 14
Christ Apostolic Church
Dynamic Christian Centre Notes forming part of the financial statements for the year ended 31 July 2024
Debtors
Debtors are measured at their recoverable amounts at the balance sheet date.
Creditors and provisions
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costsand subsequently measured at amortised cost determined using the effective interest method.
Fund Accounting
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.
General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the church and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the church for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
There are no endowment funds.
2 Liability to taxation
The trustees consider that the charity satisfies the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by chapter 3 part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively on the specific charitable objects of the charity and for no other purpose. Value Added Tax is not recoverable by the charity and is therefore included in the relevant costs in the Statement of financial activities.
3 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 objects to the charity.
4 The contribution of volunteers
The charity depends on the support of its volunteers, which is much appreciated. The church is grateful for the unflinching efforts of its volunteers who are involved in service provision, office work and administration. It is estimated that over 9,450 volunteer hours were provided during 2023. The arrangements with volunteers are difficult to value precisely in monetary terms and have not been recognised in the Statement of financial activities. The volunteers and the charity accept and agree that no contract of employment is created by these arrangements.
Page 15
Christ Apostolic Church
Dynamic Christian Centre Notes forming part of the financial statements for the year ended 31 July 2024
5 Net incoming resources and resources expended
| This is stated after charging | 2024 | 2023 |
|---|---|---|
| £ | £ | |
| Depreciation of tangible assets | 64 | 1,356 |
6 Tangible fixed assets
| Cost At 1 August 2023 Additions At 31 July 2024 Depreciation At 1 August 2023 Charge for the year At 31 July 2024 Net book value At 31 July 2024 At 31 July 2023 7 Cash balances Cash in bank & in hand at year end 8 Debtors Gift aid receivable |
equipme nt Computer s & IT Motor Vehicle Total £ £ £ £ 1,731 - 6,650 8,381 - - - - |
equipme nt Computer s & IT Motor Vehicle Total £ £ £ £ 1,731 - 6,650 8,381 - - - - |
|---|---|---|
| 1,731 - |
6,650 8,381 |
|
| 1,731 - - - |
6,586 8,317 64 64 |
|
| 1,731 - |
6,650 8,381 |
|
| - - |
- - |
|
| - - |
64 64 |
|
| 2024 2023 £ £ 14,409 21,451 |
||
| 14,409 21,451 |
||
| 2024 2023 £ £ 5,816 5,816 |
||
| 5,816 5,816 |
Page 16
Christ Apostolic Church
Dynamic Christian Centre
Notes forming part of the financial statements for the year ended 31 July 2024
9 Creditors: amount falling due within one year
| Rent Accountancy fees 10 Income and Expenditure account summary At 1 August Surplus after tax for the year At 31 July |
2024 2023 £ £ 7,026 7,026 500 500 |
|---|---|
| 7,526 7,526 |
|
| 2024 2023 £ £ 19,807 17,737 (7,107) 2,070 |
|
| 12,700 19,807 |
11 Particulars of how specific funds are represented by assets and liabilities
| Unrestricted | Restricted | Total | Total | |
|---|---|---|---|---|
| Funds | Funds | Funds | Funds | |
| 2024 | 2023 | |||
| £ | £ | £ | £ | |
| Tangible fixed assets | - | - | - | 64 |
| Current assets | 20,225 | - | 20,225 | 27,268 |
| Current liabilities | (7,525) | (7,525) | (7,526) | |
| At 31 July | 12,700 | - | 12,700 | 19,806 |
12 Change in total funds over the year, analysed by individual funds
Restricted funds: Total restricted funds Unrestricted funds: General funds Total unrestricted funds Total charity funds |
At 31 July [Inc Gains] 2024 £ £ £ £ £ - - - - - Adjustme nts in the year Outgoing Resource s Incoming Resourc es At 1 August 2023 |
|---|---|
| - - - - - |
|
| 19,807 41,699 48,806 - 12,700 |
|
| 19,807 41,699 48,806 - 12,700 |
|
| 19,807 41,699 48,806 - 12,700 |
13 Related party transactions
During the year, the church paid institutional grants to CAC Worldwide. The umbrella organisation for the Christ Apostolic Church, Dynamic Christian Centre.
Page 17
Christ Apostolic Church
Dynamic Christian Centre
Detailed analysis of income and expenditure for the year ended 31 July 2024 as required by the SORP 2015
This analysis is classsified by conventional nominal descriptions and not by activity.
| 13 Donations, legacies and similar incoming resources Tithes Thanksgiving & offering Sundry Income Gift aid Sundry income |
2024 2023 £ £ 35,193 35,893 1,824 2,288 3,285 - - 10,030 63 2,741 |
|---|---|
| 40,365 50,952 |
Total resources expended
| 14 Costs of generating voluntary income Administration Support costs Premises 15 Charitable activities Ministry 16 Governance costs Professional fees Total resources expended |
Church Work Support Cost Governan ce Costs 2024 Total 2023 Total £ £ £ £ £ 18,316 - - 18,316 21,450 - 878 - 878 1,356 27,497 - - 27,497 22,954 |
|---|---|
| 45,967 878 - 46,844 45,956 |
|
| 962 - - 962 1,926 |
|
| 962 - - 962 1,926 |
|
| - - 1,000 1,000 1,000 |
|
| - - 1,000 1,000 1,000 |
|
| 46,928 878 1,000 48,806 48,882 |
Page 18
Christ Apostolic Church Dynamic Christian Centre
Detailed analysis of income and expenditure for the year ended 31 July 2024 as required by the SORP 2015
This analysis is classsified by conventional nominal descriptions and not by activity.
| Donations, grants and legacies Tithes Thanksgiving & offering Special Income Sundry Income Total donations, grants and legacies Other income and gains Gift aid Sundry Income Total other income and gains Less expenditure Premises costs Hall hire, rent & rates Lighting and heating Bank charges Bank & finance charges Administration costs Printing, postage and stationery Insurance Salaries and wages Admin expenses/HMRC Telephone & internet Travel and subsistence Ministry Visiting speakers expenses Seminars & conferences Mission, training & evangelism CAC Worldwide Worship cost & community project Welfare & hospitality Subscriptions Music and Liturgy TV and Radio Programme Donations Educational manual Support costs Repairs & maintenance Depreciation Vehicle running expenses Management and governance costs Accountancy fees-bookkeeping Surplus/(Deficit) for the year Surplus/(Deficit) brought forward Surplus carried forward |
£ 21,000 6,497 |
£ 35,193 1,824 1,334 3,285 |
2024 £ £ 35,893 2,288 - 41,635 10,030 2,741 63 41,699 21,000 1,954 196 - 440 18,888 995 419 709 - - - 100 - 228 - 900 699 - - - 1,356 - 1,000 48,806 (7,107) 19,807 12,700 |
2024 £ £ 35,893 2,288 - 41,635 10,030 2,741 63 41,699 21,000 1,954 196 - 440 18,888 995 419 709 - - - 100 - 228 - 900 699 - - - 1,356 - 1,000 48,806 (7,107) 19,807 12,700 |
2023 £ 38,181 |
|---|---|---|---|---|---|
| - 63 |
10,030 2,741 |
||||
| 27,497 153 18,316 962 878 1,000 |
21,000 1,954 |
12,771 | |||
| 50,952 22,954 196 21,450 1,926 1,356 1,000 48,882 |
|||||
| 153 | 196 | ||||
| 530 - 15,100 526 436 1,724 |
- 440 18,888 995 419 |
||||
| 709 | |||||
| - - - 100 153 47 187 - 425 50 - |
- - - 100 - 228 - 900 699 - - - 1,356 - |
||||
| - 64 814 |
|||||
| 1,000 | 1,000 | ||||
| 2,070 17,737 |
|||||
| 19,807 |
Page 19