NEW COVENANT CHERUBIM & SERAPHIM MOVEMENT CHURCH I A CHARITABLE COMPANY LIMITED BY GUARANTEEI COMPANY REGISTERED NUMBER 06765744 CHARITY REGISTERED NUMBER .' 1130858 REPORTS AND AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2021 llwllllllllllNllllMI "A8DI65Q3' COMPANIES HOUSE
NEW COVENANT CHERUBIM & SERAPHIM MOVEMENf CHURCH I A CHARITABLE COMPANY LIMITED BY GUAAANTEE) Roport and accounts Contenls Company lOrmaOn Trustees, repJrt Stralegr¢ repjl IndeFendent aLKJitorfs report Income statemeni Slalement ol comprehensNe income Statemenl ol linancral posittt Slatemenl ol changes in equty Notes to the finala1 statements 10 12 13- 18
NEW COVENANT CHERUBIM & SERAPHIM MOVEMEKf CHURCH I A CPIARITABLE COMPANY LIMITED B Y GUARANTEEI Company Infomiation Tru$lee$ Mrs Oluwaloyin Fathe I Chairman) Mr Adeleke Johnson Ivice Chaiimanl Mr Tolulope Adety)wale 0yew0 Isecrelary Special Astle Allred OLqdikY) Jegede I Church Pastor) Mr Michael Ajibola Adekunle Akande Imemberl Mrs Bosede Adetrla ljelu Iuemberl Ihrs Ornolola DetK)rah Okulutl) (MemrI Sgcretsry Mr Tolulope Adelx)wale Oyewole Isttretaryl Aud+lor$ SM Harrnan Limiled TIAS HanY¢an & Co Chartèred Certilied Accountants & Registered Avdiiors 261 Green Lanes Palmers Greèn Ldon N134XE R•glst•r•d ollice 333 HwJh Road, Woc¥J Green. L0ndC N22 &JA Reg[$ted fftumber 06765744
NEW COVENANT CHERUBIM & SERAPHIM MOVEMENT CHURCH A CHARITABLE COMPANY UMrrED BY GUAIIANTEE) Registed Nurnber.. 06765744 Charity Registered Number.. 1130858 Truste¢s' Raport Th? Iru$iees are 8150 (fir¢ctus G4 The Ihg W>$e$ ol Ihe CrynparMe¥ ki, presem their rwyt and linaral statements for ts year entsj 31 Dwitw 2021. Structure. Governance and Management New Covenani Gheruts"rn & Seraphim movem Clwrch i% a drtae Cfmpany wh¢ti was estsl$hed for chantai48 wrpus8 for puLkl'c bèn8fit in Ewiand ar¥J Wak%, was register ¥h[h Companies H$8 on 4th Decemtrw as a F¥ovate rpanY Inniled trty warantee, arn1 Charity commtssion on 301h JLty 2LK8 as an irtL¥pored charw. Gov•tning Oocumenl Th8 incorFNNaled chamy is gov8med by ts MnalKIn Arith ol Aswation ethrA•Y on 7th July 2013. chariiable company has share ¢apW. txrt in tt eveni of bw.no LW, members. guarani80 is lim1t lo Ton wu4kls1£101. Tru51ees Se18Ctlon M•tlwds IludIng Delalb od any¢onstHulJonal PrO$10n$ The govern9 O(¢umeni provYJes for a maximum ol Thne191 Dire(aorThrustees who have a lite 4) of three twms ol ye5 each aller vlKh that zre rJt it4e for the Board until years gave ¢¥sed. The DireOrTruSteeS sec1ed ty set1 Cfmmrf¢ee set up lot th wrpose. The Commrtiee wovl¢J screen and inteW the candYale5 r0rendj lo Ihem ty Ihe mernber5 of the tharty who musl not be under 25 ye$ ol age. The carfidal8s re 0 sleCt 10 ¥Mritual screening aft whh thay are preserrted 10 the men4)ers ai Gone MeeiTh¥J or a Gerr Moetirg for ratrftatw. Truee In(ki1 •nd Trtining Director5 and Tiuste are in¥oW in Thniry w&Jrammes thai are lun ty the Churcb aj ollered wolessional adv¢e a$ae by exTrmat CmSLthlS the execuiion ol tsir duties as Direciors and Twsiies ol the Charitab company. Additionally. new Trustees are inled aThJ erKouiaged its attend a serie5 015hort training se5SQnS to farniliarise Ihemsèfves with Charile Cornpany and the lexI whKh it operales. These arè joinY led by Churth Pastor and Chr ol of D¥eckKs 8Th1 Trustees. the Iraniffj departmert The Board of Diie¢tOts 8TrJ Tnjslees rneel regulaty are respJnsbk tor Ihe sirategK direction and of Ihe charity. The operational lor nJnnir¥J of the char¢ty ith Ihe th.raci and Trusiees. The 8oard of Owe1$ Trusw is r¢Skle lor eftsuriro thai chanty achieves its aim. The E¢def5-in-CourKil were aFpJited lo marge the Operattya affalrs ol Ihg Churth li wlh Ihe dourlne aThY princip$ ol our Iwth. Thg 24.rnember Elder94n.Courril led by the Cl£h P&sr 0 as Ihe Chwrman of the District Clyllpiue 10 func as ¥eqmd manage the c1¥¢h elltthdy as Llreeted ty Ihe Trustees and led by Ihe Writ ol Gc#J. The Chuich is a part of a rel¥i(ws organisaiw i.e. The CherLtJim an(1 Seraphim Vernenl ClyJrch. the Structure of this wi%aboD ha5 a for L¥ath rtsatbJn aTr managernenl under ChslrKIs. The Covenant Church has been wmiwj as part ol 01str 3fiLI iho Stru(Xure to create wnanage tYarKhes. This rwt arKI brwKh strLthre ieLate ontyto the Church arKI (Des not inc&wJè th8 manageff*nl ol the linrfed LY corywty or w$ted ctrwrty.
NEW COVENANT CHEAU81M & SERAPHIM MOVEMENT CHURCH I A CHAFIITABLE COMPANY UMITED BY GUARANTEEI Regisled Number: 06765744 Chanty Regstved Number: 1130858 Trust$. Report Communication We make it a kx)ini ol to m•mits of koy th¢isiyts ol Iho Board. Thè Board IK4Js rneelings with stake1Iders 10 consuN on. or commynKaie imrxytam issues th8 Chanty. Paslorale The pastorate contirnJes to l¥j on b)ard leaders coverir¥J Lpartmerts ur•ts acxoss tl Chulch in a bid 10 51rerbJthen pastNa Serv& in the Admlnlslratl¢>n The Chh'S Atkninistrion olke remwns an clwe diThJ fty the Clvch its ¥arts)us or9ans. Principal acti¥ilies The companls athity duriNJ Ihe ¢onbnued to be a ¢haritaUe Company. d)je¢iive of wtKh are its)se of a rel¥ious oroanisatiom tor the atanmeNt of Christian tselves. This incILe5 worship ar the ifivc4vernenl ol varAJus miTrslries and minStrS ol relig0 propagalir¥J Christian 18n8ts to rnembws and non.memb¢rs of tho Church al Wa)5 meeting$, a1 provwsiffj SUort services thai re$S Ihe needs of ow meMt$ arNJ Wl ¢Aimmundy. ljoard ol Irvsioes ¢Cltsr thai in so Ihe chilable ¢varty É JirKJ ICK Ihfr ber41. Tru$ts The followTrJ person5 served as TnJst8es dunrwJ the year: Mrs Oluwaiown Fales• I Chamianl Mr Adekke Johnson Ivre Chairman Mr Toluknpe Adetowale ISecrg10ry) Spe¢iJ Aposlje Mlr&1 Oladiw Jegede I Church Pasior) Mr Mi¢hael AjiLwAa Adek ande Imemèwl Mts B05ede Adetda ljelu Imemterl Mrs Omdola Othrah Okuiuto Iltsmber) Trustees. responsfjb1we$ The trustee5 are iesponsib lor &WerIj rer#Nt slaiefflents in ar£Oran with aprA¢ab law arx1 regulaior6. Company law iwires the Tnjsiees to propwe finarK1 slalorn8nt5 each Ial year. Under Ihat law the Trustees have ekcted to prepare the finaroal 5talemenls in accordarte with Unilwj 'ngdom Generally Accepted knounting PrauKe (Fina R8pytir¥J Slandard 102 and applKabl8 lawl. Under company ffte Trustees musi nc4 aFvove Ihe financ4al st21ements unless they are Satisfd Ihat they ot a true fair wew of Ihe sie of aflwrs ot the company arhy of the prtsfil or Ios5 01 the Gompany for thal pericrfj. h prepwry Ihese Staternen the trustees are required to.. selecl Suita acwunling wleS aThJ then W tW $811." make1Ygements arKY esbmes Ihat are reasonatde aNJ w1,. stare %¥hether aable UK Accwnliry SlaTrlards have been folhyd. suti8ct to any matwi departures ¢scJJsed eyplained li th8 finan9 stsiemenis.. prepe the fina11 statements the g)ing concern t$ unless it is ¥Wprriale to presume thai thg cofflww ii (WlinL* in
NEW COVENANT CHERUBIII & SERAPHIM MOVEME14T CHURCH { A CHARITABLE COMPANY UMITEO BY GUARA14TEEI Registered Nurnber: 06765744 Chanty Regisiered Number.. 1130858 Trustees. Report Trnsw. Report The Trustees are respoffts&) f¢y keepNJ athuats aCcountj rerdS tlwt are sUf[en1 to show anLI exp&iTh ihe companvs tran5aclws dEd05e vrith ieasonabLg accuracy al any time Ihe financi of the LY)fflpany aFxJ enatA8 hirn to en5Lxe thal the lin1 atements comtyy wrth the CKAnpanies Aci 2006. He is akn responsth lor salgJJardiNJ the asse15 of Ihe Company a he for iaking rea$ab St for detect¥ ol fraud arbj olher Irlegukrit. Dlsclosure ol Inlormaiion to •udiiors Each pèrx)n %tto was a Iru5tee al the t¥ne thi5 feFrKt wa5 aryoved thai.. • so lar as helshe Is a, thtre is no revart aLS1 fftl1mal (4 cx)mpanls auditor is Unawa." a1 holst ha5 tak 1 Step that helsh8 C4b3ht to ha¥e taknn &8 a twstsg in ryder to me Iurn5dtthersdl aware ol any leVart athaf( arnl to esiatAS$h Ihat the c47)panls auditor s aware ol thai inl¢xrnaKJn. by th8 board on 8 SeO8rrther 2022 and sned on its Mts Oluwalwn Falese Trusieo Tiust88
NEW COVENANT CHERUBIM & SERAPHIM MOVEMENT CHURCH Strategic Report Exodus 8..22 I will sel apart in that day the tand ol G05tw. in vthich my people dwell. Ihat no swarms ol flies shall b8 there., lo the end. you may know that l affl the LORD tn th8 midsi ol thè èarth. We give all glory, honour and adoration lo our King, OUT maker and our Masler, the one who sitteth in heavens and made th¢ earth His lootstool. W•ithwt WIKJ we wll not exist.. We know thai il the Lor(I had noi teen on (¥Jr side the waters wouhd have overwhelmed us. aTrJ the stream gone over our soull The year 2021 was a year of reflection for us all. Ivl ol mixed emolicffls. a year vthen covid came in the form ol anothèr spread ol th8 Do113 vanant ol COVIt>19. A year whgn we were allowed 10 WIY5hip together under stringent guhlelines. a year when we hand to worship in buttjles, with masks, where hand sanrfizaiton arKI teMperatL1 taknJ fOre enterirkJ the sarKluary was a mtjst. A lot of our brelhren fost their irtorng or tsir bJsinesses. some were sKk. arnl. sadly. some ol our loved ones passed unto Gbry. Sltll, we thank Goj for His faithlulness, lor thè &'t40 says 'For our Iht and momentary troubsgs are achieving IOT us an etemal gbry thai lar Ou.gh$ Ihern all. 18 So we fix our eyes on what is seen, bjt on what is unseen sirtt what is seen is tempjrary. wthat is unseen is eternal. 2 Corinthians 4."17-18 God has truty been faithful and showed limself mightily in our ¢hur¢h. We take this lime lo appre¢iat8 JI OLJr Church ¥¥orker5, e5[lalty the protocd and contsngency tearn who had to be innovative. patient and cautious. SOME OF OUR ACHIEVEMENTS INCLUDE". 1.PutlirvJ 5yStem5 in ace to ensure easy proces5irwJ. trartsparerry. arbj accountabilty 2.24n AYONI radio slaiion was launched as pan ol our vision - this year Thi5 has aLso brought Ore people to eThJage wlh us drtlY and increase our mernbers physully wth God addiw more members to us. 3.providing payment ¢ards to departments, aThJ having trJhter financial controls 4.24n Digital Church start&J with us currentty running daity 9am Morning Devotion and OILMa gbami - this year (currently we have over 100 Feople eTrJaging S.In Cornlance to our rM)licy 014 yeaf twm ol every HOD. some ol our department heads were change<l successlully 6.ln complianc8 With govemment and charity regulatory wè continue to submit our linanc a¢eounts and reports bele Ihe regulalory due date5 goirg forward to give the board time to concentrate on other projects. 7.we continue io create virtLtal communrt*s and eg[(p5. helwrKJ in connecb.ng our members and caplivating new ones to fdbwship. 8.our Sunday s¢hLxJI Chikhen, leen. youlh arky yow adults were given plaiiorms to eNJage. inspire and grow 9.our ekler Gornmunity were taught to move over to MrIu Flafforms. artsd engage in various programmes to gn¢¢)urage aTrJ motivaie 10.we continue to pertect all our Church pol 10 a cenlral deFosilary lor easy relerer
tinaiiy As Apostle wrote to the GaL4tions 6e-I0'Let us noi tcome weary in doing good, for at Ihe proper 'Tne we will reap a haryest il we do not grve up. 10 Thefelore. as we have the OPPOnunity, let us do got lo all people, eycialty to those WIK) belorKJ to the famity ol believers. I tak8 th bm¢ to encouiage us not to grow lired ol Gcts VrJrk bul t eOagj in thè Lord thal He see'5 us arky %MII reward us accordingly. in due season. I'm so excited abo ihe future ol New Covenani C&S Chuich. and I canl wait lo see all Ihai God is going lo do in and through us 20¥2 and further IJN. I challeng8 you all today lo lake up the manl Gfxl has gwen and take p)sition in our CHURCH and Gc4J's kingjoffl. AyoNi O Pastor Angel Falese BOT Chaiman This report was approved by the board on 8 Septemtr 20Y2 and signed by its order. hArs Oluwaloyin Fase Trustee
NEW COVENANT CHERUBIIA & SERAPHIM MOVEMENT CHURCH { A CHARITABLE COMPANY UMThED BY GuAREE) Independent •udllor's report to th• membws ol NEW COVENANT CHERUBIM & SERAPHIM MOVEklENT CHURCH Opinion Wp have audiied the finartiJ statements of NEW C0VENAr CHERUBIM a SERAPHIM MOVEMENT CHURCH (the o)mpany'l lor the year en¢#e(J 31 tlecemtsr 2021 comprise the Incorne Siatemwt. Ihe Siakment ol Cornpreh8nslve Income, the Staierrnt of Finaal P05iiion. Ihe Stsiemenl ol Change$ In Equity and notes to th tinartial statements, indLKJing a summary ol svJniti¢ant aC41j le& The h"nan¢ial repvrting framewrt that has been ap their rxeparalion Is opab]e law aTrY Uniled A(tounts"w Standards, including FRS 102 The Financial Reperting Standard aFPab in the UK and tho Re1¢ ol Ir8laTr (United Kingdom Generalty Accepted Aecouniing PracirAI. In our opinion the linarKial swIeM". give a true and lair e of the state c4 the crynfs alfars 35 al 31 tlecenkn 2021 arnl of it5 prafit lorthe year then ended-, have been properfy prepared in aixordan¢e wth UnitwJ ngthm Gtrnety Accepted Ac£ounbng Pra¢iice' • have been prepared in accortance lIh Ihe w1niS ofthe Companies ALI 20C6. easls for oplnlon We cOndted our auoil In accordarte InteinaDonal Stsndar(Is on A"lIng ILIKI IISAS (UK)) ap1¢able law. (r responsirI8S under Ih0s8 standards are lurth8r sn the Auditor'$ n"h.ti85 for Ihe audit of the h'nan¢ial sialemenis section ot our report. We are inI ot the Company In acrarte wlh Ihe ethical requirements Ihai are relevant lo our audit ol the finar¢id slaternen15 in th¢ UK, ind11j Ihe FAC'S EthKa Slandard, and we have fu111¢d our Other ethKal $YS1.Is In accordance these reqrements. We bekeve that the art ewdenc£ we have obtained is sufficieni and appropnate to wovth a basis lor cpnion_ ¢ondu$lons relallng lo 90SrwJ ¢onwn In audibng the linancial statemernts. we have eonclLhled thalthe director5. use ol Ihe tr)iNJ concern basis of acetyJntirJ in Ihe prewats'ofi of the lin?1 siaiements is approprole. Based on the t)rk have perlomd, have rK•t hJenbfd material wcertants ielatiTrJ to events or conditn5 that. Individual gr colle¢iivety. may cast signilwt doubl on the compan15 ab.lity to contiUe as a goirwJ ¢oncem f¢y perioj ol at least h¥elve months Irom Ihe finan ststements are aulhorised lor issue. Our reswnsily"kties ar#J the resForwbiSrts ol ith resKect io COrern are ¢Jescn"ted in the relevant of this report Olher informatlon The other Information cornprises the infomation 4nrJ in Ihe annual rerKJrt Olher than the linanrial $18lements and our aLiior's report Ihereon. The drectors are re5KM)nsie for tr Olher iAf¢Jtrnatx)n tontained within the annual report. l)Jr opinion on Ihe financial siaiements does rw)t Covtr Ihe othet inf0mMl a. exp1 to the een1 otheise explioiiy slated in our ieport. we do nol express any lorm of assyrarKe COlUSion thereon. &Jr re¥xywbility is to read Ihe other Intormation an<1. in duTrJ so, con5hler etlr the ot1 infgrmat)n is materially IO$tellI ith the financial slaiemenis or wr knoedge obtained in Ihe course ol Ihe auth't. or ot1¢7$e appears io t maiefiJty misstated. W we Klentity such rnalerI inconsislences or aFyarefit maieriat missialemenis. we are required to determine whether th give5 iise lo a rnaterial misslalement in the finarKiai statements Ihernsefves. If. based on the vA)rk we have performed, we conclude Ihal Ihere is a Mar1 misatemert tsf this inlormat&Jn. we a wuired to repm Ihat lact. We have I1n9 lo r¢rth in this regard. Opinlons on other matters prescril>ed by the Companies Act 2(q)6 In our opinion. based on the unLlertaken in Ihe course of the au(Jrt". • the inlofmaiion given ifi the strategt rèport and th8 dire¢knrs' rewjrt for thè year for thch ihe fi'na1 statements ate prepared is c(¥i$lentvth Ihe fifiantyal siakmeftts." a the siraiegic report and Ihe dire¢l(*s' iewt have prepa in a¢eordatKe with appltatle legal reqU1Ments.
NEW COVENANT CHERUBIM & SERAPHIM MOVEMENT CHURCH I A CHARITABLE COMPAMY UMITED BY GUARATrifEE) Independent auditor's report lo the members ¢1 NEW COVENApif CHERUBIM & SERAPHIM MOVE1IEP CHURCH Matters on whkh we are roquired to report by oxception In Ihe Iighl ol the knovledge and under51antliry of Ihe c¢Mtpany its obtwrd in the ¢¢uts• of the aLKIit. have mt identilwj rnalErial misstaiernerns in the svaiegic rert or Ihe directors. ieport. We have nolhing to report in resFecI ol the malters in retion to the cOne$ Aci 2006 requires to r8wJrt to you if, in our eFwrkion'. • adequate aceountiNJ records have been kepi. or feLYns uate fc¥ athlit Trjt been re¢sNèd from brarrhes not viqiled by us.. or • the linan¢ial stsiements are nol in agement wth Ihe accounlry rordS aThJ relums", or • certain dssclosures of directors, remUneraln speufied by are made.. or we hove nol w¥ved all Ihe inli)mIatit aj ewIanats wuiffj for our avdiL Respon$lbllttl•s ol dlwe¢tors As explained MO lully in Ihe ¢IreclS. respons#"lil atemeni. Ihe direthors are reSp)nsIb for preparaiion of ihe h"nantsal staternents and lor beiry satisfied that Ihey give a Irue fair view, and for suth intemal ¢ontrol as the dioCto deiermine is necessary enab weparation of statements thai are Iree from maiérial rnisslateffn1, whether due to IraLM1 or error. In kyeparing Ihe finarttral statements. th8 th'réeiots are rSnSitIe for as¥èssffig thè cornpany'$ lily to continue as a gfyno Carern. L1isdosing. as app11catde. mamers relaied 10 going concern and usiThJ the going cortem bays of accounliThJ unless the directors eithw inleThJ to c(Miyary or lo rase opWan$, or have no roalists'c alteinalive but to do so. Audiiofs r•sponslknllli•s ftr Ihg audii of fiMn¢lal slat•MlS Our objectives ale lo obtain reaSonae assurarte atx)ut tte1her the thnaroal siaiernenls as a whole e free from maierial missiatement, whether due to Iraud or error, and 10 issue an auditorfs report that includes our Onien. ReasonatrAe assurance Is a hwjh levd ol a$sUrae is rK>t a guaraniee Ihat an audil cornlucieo in accor(tance ISAS IUKI will always deteci a material misstalerrenl when it 8$ts. thsslatements can arise from frdud or error and are congdered maieri81 if, indNK1uaNy or in the agoreoaie. Ihey toukl reasonabty be exp&e lo ln11uere Ihe economic decisior6 of users laken on Ihe t>asis ol Ihese finarK1 stalenwits. IrregularTTres, InclLKJing traud. are InstanS of non-comlance v•ilh laws and regulations. We design procedu$ in line Ih oui resry)nsitNlitses. ou111 above. 10 maierial Misstat0Thts ITr rest ol IrregurIbes, Induth"rJ Ifaud. The èent to wh'eh tyjr arè capth of delectsr¥J regarn1. inckn1ing fraud is ¢Jekn'le(I t4w.' A further descrtiON ¢f ¢yJr re5pDnsitylrlie5 lor Ihe ol Ihe financiat 51alernent5 is avaiLatsle on the Financial Reporbng Coun¢il$ bsit? at ¥w.Ir¢.O.UhJa"tOres[or0ftJI.IIe$. Th"s descriR)fi forrns part of wrawjiior's rekKirL U8¢ gf our igport This report is maée sd8ly 10 mpanY'S rnernbe. as a toty, accordance writh Chapter 3 01 Part 16 01 th8 CompaDi8s A¢1 2006. (]Jr au¢'t work has en uThJert3ken ihat we mighi to Ihe Companys members t)$8 Matters we are required to state to them in an audiio¢s rep)rt and for no othei purpose. To the lulle51 exlenl perrnitted by Eaw. we Llo not accept or assume respxJnsib"l¢ty to avyon oth8¥ Ihan thè eoTTwy thè companys members as y, for our audtt work, for Ihis report, or for the have lom)eLI. (Sentor Siaiulory Audiiorl fcr and on behail ol SM Hamian Limited TIAS Hanman & Co Statutory Auditor September 2022 261 Gn Lanes Palmers Green LonLk)n N134XE
NEW COVENANT CHERUBIM & SERAPHIM MOVEMENT CHURCH ( A CHARITABLE COMPANY LIMITEO BY GUARANTEEI In¢ome Ststement lor the year ended 31 December 2W21 2020 Income 373.294 302.594 Gross Income 373.294 302.594 Adminisiraiive expenses {190.5251 1245.0871 Operatlng In¢omo 182,769 57,507 Interest re¢eNable Interest payable 515 116.3661 2,242 117.8741 corne on ordlnary acllvttles before taxalSon 166.918 41.875 Tax on income on ordinary acINit5 Incoffle for the financial year 166.918 41.875
NEW COVENAiif CHERUBIM & SERAPHIM MOVEMENT CHURCH I A CHARITABLE COMPANY LIMrrEO B Y GUAAANTE Stalemenl of Comprehenslve Income for the year ended 31 December 2021 Inme for the flnancial year 166,918 41.875 Other comprehensive Incomo Tolal Comprehenslve Incomo lor the year 166.918 41.875 10
NEW COVENANT CHERUBIM & SERAPHIM MOVEMENT CHURCH { A CHARITABLE COMPANY LIMITED BY GUARANTEE) Statement of Financial Position as at 31 December 2021 Notes 2020 Flxed assets Tangible assets 2,102.384 2,141.104 Cun•nt assèts Stocks Debtors Cash al bank a1 in hand 2.166 42,624 583,810 628.600 2,166 38.655 412,484 453.305 Credltors.. amounts f¥lllng due within one year {114.4601 (109.6531 Net current asset$ 514.140 343,652 Total assets less current liabilities 2,616.$24 2,484.756 Creditors: amoun1$ falling due after more than one yr 10 {490.179 1526.1811 Net assets 2.126,345 1.958.575 Capital •nd rèserves UnreslTiCted Funds= General Reservès Resliicted Funds.- BuAd Maintènance FurKI 1,780.365 1,613.447 12 345.980 345.128 Total equity 2.126,345 1.958,575 Mrs Oluwaiown Falese Trusteo Approved by the board on 8 September 2022 Mr Adeleke Johnson Trustee
NEW COVENANT CHERUBIM & SERAPHIM MOVEMENT CHURCH I A CHARITABLE COMPANY UMITED B Y GUAAANTEEI Statement of Changes in Equlty for Ihe year ended 31 December 2021 UnltrICt0d R•stricted Other Funds Funds reserves Profil and loss account Total At l January 2020 1.571.572 344.917 1.916.489 Total ReceN8J DuriThJ Ihe Year 16211 16.211 Total Expensed DuriTrJ the Year I16.0> 116,0001 Nei income for the tinancial year 41,875 41.875 Al 31 De¢wnber 20YJ 1.613,447 345.128 1,958,575 At l January 2021 1.613,447 345.128 1,958,575 Total ReceNed DuriNJ the Year 3,870 3,870 Total Exws¢d During th¥ Yoai 13,0181 13,0181 Nèi incoma lor tt)è finantial y•ar 166.918 166,918 At 31 Oecembef 2021 1 7,365 345,980 12
NEW COVENAMT CHERUBIM & SERAPHIM MOVEME1 CHURCH I A CNAAITABLt CCQAPANY LiiirrED BY GUARAIITEEI Ngtès to the Accounts for the year ended 31 Dec•mb•r 2021 1 Sumrnaryol #ignit819¢£wrt1g pollchjs B•solpr8Wflon The linanoJ aiements have been wetwed uThJèr IhÈ historic tA)St ctnventim aThJ in accordance vAth FAS 102. The Finanty¥ Reportiry SiaTrlJd arf4cable ir¢ ts UK and of IrelarKI. Income Inco L% ffleasured al fv fair ol the con>dwaiK)n rEtweLI or teteivatle, net drDuntS and vlue ded taxes. Irwmg iw15 ieverne earned Irom I sale of goc¢Js and Imm the iendeiing of s8MC8s. IncomÈ tN)m thts salt ot ryxxts recogni5ed Yknen tre nitiCant IS and iewards ol aers ol Ihe gotrjs ha% transfwred to the bJp. Irome Irorn the rerxknng of ntices Is r8cogrH5Ed by refererKe 10 Ihe a3e of ol contr. The stage of mplÈtiM ol a contFa¢t 1$ measured ty compwing fv costs for th F¢rforme¢J to dai• 10 Ihe wal esumad ¢))s. t8ngible fixedassets Intangiue fixed a&88ts are mBwied atutst18ss a¢wThwfaiNe and wy pairment l)55es. Tangible lixedassets Tangl¢ fixed assets are meaf4Jred ai ss attumLrfaiive deprea&ion aTKt any Lurnulalive wnp3irmÉnt k)5ses. Depreaatxin is proxI on iar#Jible fixed assets. otsF Ihan Ireefokl nd. at raies cafoJlaied to Tite off ss estimad vJe. d ea¢h assei e%enly overi exwcled useful lrfe. a5 Fre8hc4d twibJ'rMJs Leasehokl la a lJuVIirys oior vehides fixS. filbrys. iooL5 and •wIlern o¥er SO )Ears straHJhl li Is% PerarUM on a rtdww b•¥$ 20pwanrn on a redudng tsance ba$ Inveslmeniprnperty WrneD1 WOP8ffy Is ini¥aty recoJritsed ai o)st Snty ai vah. Changes in Value are recr4nEed in hjss. Inveslments hives¢ment5 in 5ubsKaries. associates a¢ Fint ventures e measured ai cost ss any accumulated wnpajimeni 2$. L$ted inve5trnts are meawred at fatr vlue. Unlisted veslrnents are measured ai fair tsrless the Val tannot t m¢asurtrJ r&abty, in ease Iheyare aSled al cost le&s anYarMuraIeJ impairm1 losses. CharMJes in lir TrRIL ale dutsj in the wofrt ar¥J k15s aCcL Sto¢ks Siocks are measured 31 of c(6t arvj 8stynaleLI wt8 k8SS Costs to comp4818 and sell. Cost is detomiird ugNJ the fitst liN rneVK#Y. Tr carrwrwj ar1 ol 15 recognised as an expense in the perMNI the related fe¥wwe ts recouiwsed.
MEW COVENAMT CHERU81PA & SEAAPHIM MOVEMENTCHURCH I A CHARITABLE COMPANY UMITED 8V GUAAANTEEI Notes io Ihe A¢eounts for the year ended 31 December 2021 Dobtorn Short term tYeblOT5 are measured al tran5acthin kwir (which 15 usually Ihe In¥c#ce w?1. ss any IM1rMert losses for ¢Jetis. Loarts aThJ lxhw finanriaf asset5 are initi¥ly r8cwnis8d ai transacDon any tsansaction fX)sts and sthseowrfy measurÈd at amortid cosi determined uwry tt ettte interest metW. $S any impalmrn losses fc bad and dothtftjl debts. credi S)ll term creoiiots arg mea5uiEd al IransacJon Is usu fv ifNOKO FYf81. Lo and Oihef linawal liaknlitr8S ar6 initsaty ie(x)gtHsed at transattion wce Mi ol rM)sts d 5ub5equenlly asured * anhJr058d SEdteMnj Iry IhÈeffethe Wlre methtyl. A current lax 1lthh.ty is wised for ts thx paydtle on IhB laxatAe Fyolil c[nI arxl pasl r. A current lax ass is rwrM5ed in ie¥ect ol a tsx knss that can be card 10 iecov8r tsx paid ifi a previous peri(wJ. Deterred tax 15 recr4JrMsed in re¥1 vmirvJ rfiffererS b8Men Ihe ¢ecogrMlion ol irLthme 8NI expenses in thÈ staiÈwts and their ¥rkJ5K)n in lax as595sments. Unrelieved lax knsses and olr deletyed assets are tecognised Dnty to the exieni thai il is Ihal they will rTher•Y again the r8¥8rsal ol 08f8rred lax 14qlItS oi otrr luiure taxab proljts. Deferred lax 1$ rwgjrI the tax rale5 8T Ihai have been enacted oi subslantsvdy enaaed by the 18Wfbry dale aThJ thai are expect1 10 akwy ID tha rtrvprsl ol IhB liming (kMereKe. except lry r8¥ed laTrY aTrl inv8Strneni wperty Yre Ike lax 181e thai app'es the salè of Ihe asset i used. Current defwred a55ets atibiies are I dk5Crted. Pro¥lth>s P$10n$ IK8 liate$ of urterfain lirnirwj Norrmjuntl are recojnised then Ih8r8 S an ot4yth)n al the rewrDng ¢Jaie as a resuiiol a eveni il ts Wtèable that txrnlit b• liar61eId to s¢ttkn tho oblwJ¥b"¢)n the of fv ctlybon can be 8sDmaièJ rel4abty. Transacfrons in lorthgn cwr¢noes art alth¢ rtie of exthare nJkn¥J at tr d*è of the transactson. Al the end of each forwgft iltyn$ afy irnn51ated al rale ol exchange. Non.monetary items that 8re measured ai hs1¢81 t> are tr8nsWed at the iaie iulin9 atlhe date ol Ihè trarsacln. All ¢MerPr85 We Ch to 14
NEW COVENANT CHERUBIM & SERAPHIII MOVEMENT CHURCH I A CHARITABLE COMPANY UPfftD BY GUARiineEI Nol•S 10 the 1n1$ lor the year ended 31 Deeember 2021 A 4$ t'11ed as a linarKe zse it it tran5fets 5ub5tants&ty al ts rEks a1 reKrd5 Ir¢bYenthi to 07tship. AJI dher We$ afy dasgfJ as weiahno l¢as¢s. Th& NJhl$ of ot41gal unLi linarte eS e inthalty r8cr¥Jr¥sed as assets and liabiithes at amDU•ts the laKvakJe ol Ihe ka58d assets or. rf kyv. Ihe kKe5enl valtse¢Y Ihe minimum lease payments. Minimum lea% payThents are akwth'on8d l)gb8n the finarKe rtharg8 aThY in the oUtsrj Ik2tylily the elfttiive irterest rate mÈiiKY. Tr finan tharge is all(Katl to each period dunNJ the ase so as to rmoduce a C4)nstsni penc¢Jt rate ol intetesi on the remaining balanc8 ol th8 li3tslity. Leased assets are depreuaied in arLNdarte ilh fv cDrrwnYs pc4¥ for n91b fix¢d asset$. 11 thwe 15 no reasonat4e wlainty erStup will be obla1 al Ihe end ol the ase temi, the asset Is dewetial over the kmer ot the lease usefrA lrfe. Opwab"r£ lease paymerts are fec(anr5ed as an eXPee on a fjne basis ovw the lea$8 t¢rm. ContrloLIms todsfined Cor0Ilr are exnsed to wknc #y relate. 2 knllysisof inc•rn2 20 rrthes. Oltering5. Donation5 & su Iroyre Buildin9 maintenance lutsts Carteen 8 Oiher Ipfjino Rental InrJ)me 331246 318 16.wo 18,154 39.0(KJ 373294 ByoeogIaph mathet." UK 373294 302A94 3 oti in¢orng Ths is staled 8ftercharyir¥." DeweciaiI of ¢M•od assots 70,973 74.277 4 Staff eosls 2020 Wages aTrJ salaDos 24,706 24.7C6 24,727 24.727 and Expensea 21.696 The tePhone and erne1 15 arnryjnlkw 10 £812.7312D20 £758.75) ol or*ofts ST88$ was P1. A¥evage numtor olerryloyvs ye¥ paSra1 AdmiDlstrali¥e and operntior 15
NEW COVEN CHERUBIIA & SERAPHIM MOVEMENf CHURCH { A CHARITABLE COMPANY LikirrED 8Y GVARAiifEEI Notes to Ihe Accounts for the yèar ¢nded 31 Dewnlxr 2021 S Intwest payth 2020 Fknrtoage internst 18.366 17.874 6 Tarffjlblèflxed assets Flxtures, Ilttlngs. tools and equipment AlCOSi Freehokl Le•s8hokl Land and Lan¢J Jildiftgs cosi IAotor Vehicle Al$ Co81 oi yaluatlon Al l January 2021 A(kh'ts(x Al 31 D8(mb¢r 21121 111,747 29,471 141,218 2,425,V 252,918 2,782 255.7 2,8]0,621 32,253 2.862.874 2.425.956 Dgprgclatlon Al l January 2021 Charge for the year Al 31 Dec8mtw 2021 4.455 2,824 494.734 48.519 11.100 179.228 15.295 194,523 689.517 70.973 760,490 15.435 C•rry(ng amount Al 31 Oecember 2021 Al 31 Decemt• 2020 133.939 107.292 1.882.703 1.931222 61,177 73.690 2.102.384 2.141.104 7 Slocks 2021 2020 rtsh•J gocKts for Yesale 2,166 I166 8 Oebtsr¥ 2020 Advae paYrnt lo a Oihef (kb1015 Piepayments Accrued irK)ne 470 7,285 6.144 28.725 42,624 4,744 26.626 9 Credilorn: amouffls laulnq due wtthln onÈJ Bank bar Amounts Hdd on bel*Nol ÈanLts Trade cre(htry5 Advanted reniJ irtlwne deferrè her taxes and So0 un[ye0 AccwaLs 51.9 51.609 8.439 45.196 5,563 3,250 150 7.055 114460 16
NEW COVENANT CHERUBIM & SEAAPHIIA MOVEMW CHURCH I A CHABITABLE CIXPANY LAfftD BY GUARANTEEI Notes to th? Accounts lor thè yearendld 31 Doc¢r 2f41 10 Crndilors: Snts 1811ffj aftw4Yy Bank kjans Lac8nsee& dewsil h8ld 51&431 9.750 9.750 49).179 Bank loan isseoJrnd by a W chargÈtr4er afr¢eht4J pr¢PertYkr Road. Wood Gieen N228GZ. 11 UnTcted Fufids Unreslrided Fund5 2020 Al 1 JarnJary Ptil lor ihefiTranr#¥ year 1.613.447 166.918 1.571.572 41.875 Al 31 Decemtr 1.7W). 1.613,447 12 Be8trl¢led Fund: 8ullthr4 M•knt•n•nc• Fw Al 1 January Tolal Recei%%d The Y Tatal Ewsed Duriry TIE Ye 94S.128 3.870 13.0181 344.917 16.211 Il6.C¥JOI Al 31 D8cerTrt 345.128 13 Event5 Bfter the repDrlww dDtr The Worfd Orgormsation deda fyJtbr¢ak of thè won8rS a In 2020. Many of charivs serwces iryvd¥ry face face delwery was suspeTrled in March thk to the paemic.. Sunday $eryi¢es ¥bTTe delNered by zty)m. ConbrwJeLI SUFPCrt has been avamatle 10 beneliueries regulai phor cal& W1dUal $L.Tr loss of irwne has been mibgaied by the Governmern CJRS Yurwh. aTrl r8thJttxn In eynses. Irtowe Irom ¢ontra¢ts ar semces tor Ir >¥ 31S1 2(Ql Is bjhrn the trj of Cowd reslnctH)ns. The Chaitys slrow linancial po rneansthal. even al le¥ds ot Lwttnar*y. rt is wdl Flaced ioadapl to oirAJrnlaw. 14 Rellted PanytrSXofiS There e no reIe party trnnsac¢N) ¢ScI)Sef 2021. 12020 I
NEW COVENANT CHEAUBIM & SERAPHJM MOVEMENfcHuRCH I A CHARITABLE CIYaPANY U¥ITEO BY GUARANTEEI Notes to lh• Accounts for the year ended 31 Oecemlxr 2tr21 15 Prosgntakn currnncy The statnts are pre in StwlirbJ. 16 Layl tsm¥ of entitynd NEW COVENANT CHEAU81M & SEFIAPHIM K)VEN[cHuRCH ts a LX)rrw limiièd ty guarantee an<1 IrK0)ratvy In EnTrl. Th¢ ty)mwy i a regkslered charity Ltha Chanty R•3Éiw•J 1158 17 Ptln¢lp•l pl•¢• Olbun$# The athress 01 ¢T88 Flace ol bLtslrss aTrJ regiGieredoffiis.' 333 H*Jh Road, W¢1 Green, Lwdon &JA 18