**Charity No: 1132209**
## CHRIST HERITAGE ASSEMBLY
# (A.K.A TRIUMPHANT CHAPEL)
## FINANACIAL STATEMENTS AND TRUSTEE REPORT
31[ST] MARCH 2023
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## **CHRIST HERITAGE ASSEMBLY (AKA TRIUMPHANT CHAPEL) LTD**
## **(A COMPANY REGISTERED BY GUARANTEE)**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
## **Trustees**
Mr Douglas Kanati Miss Chinwe Uzoamaka Madu Mr Patrick Achied
## **Minister in Charge**
Reverend Kennedy Jacob Amiekhai
## **Secretary**
Miss Chinwe Uzoamaka Madu
## **Charity Number**
1132209
## **Company Number**
06510524
## **Registered Address**
St John’s Vicarage Mawney Road, Romford, RM7 7BH
## **Accountant**
Olalekan Akinleye, FCCA,ACMA 6, Ludham Close, Thamesmead, London SE28 8LS
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## **CHRIST HERITAGE ASSEMBLY AKA TRIUMPHANT CHAPEL LIMITED FINANCIAL STATEMENTS YEAR ENDED 31ST MARCH 2023**
|**CONTENTS**|**PAGE**|
|---|---|
|**Trustees’ annual report**|**3**|
|**Independent Examiner’s Report**|**6**|
|**Statement of financial activities**|**7**|
|**Balance Sheet**|**9**|
|**Notes to financial statements**|**10**|
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## **CHRIST HERITAGE ASSEMBLY AKA TRIUMPHANT CHAPEL LIMITED TRUSTEES ANNUAL REPORT YEAR ENDED 31[ST] MARCH 2023**
The Trustees, who are also the Directors for the purpose of the Company Law, are pleased in presenting their report and the examined financial statements of the Charity for the year ended 31[st] March 2023.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
The Trustees and the Pastorate retain the oversight of the Church activities and management. Trustees and other leaders meet regularly to discuss, plan, direct and review the operations of the Charity.
There are no restrictions in the governing documents on the operation of the charity or on its investment powers other than those imposed by general charity law.
## **ACHIEVEMENT AND PERFORMANCE**
The Church continues to recover from the disruptions of the pandemic. The attendance at the various Church programmes and events are comparable to the pre-Covid period. The income of the Charity is wholly from the members’ contributions through regular tithes and offering, and the gift aid repayment thereon. The Church income grew to £135,790 from £122,055 in the previous year; while resources expended during the year was reduced from £146k in the previous year to £141k in the year under review. A deficit of £5,171 was recorded during the year. The Church expects to move away from the deficit position in the next financial year.
The board of Trustees is of the opinion that the Church remains a going concern and will continue to carry out its charitable objectives.
## **RESPONSIBILITIES OF THE TRUSTEES**
The trustees are responsible for preparing the Trustees Annual Report and the financial statements in accordance with the applicable laws and regulations. Company law requires the trustees to prepare financial statements in accordance with the United Kingdom’s General Accepted Accounting Practice (United Kingdom Standards and applicable law). The financial statements are required by
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## **CHRIST HERITAGE ASSEMBLY AKA TRIUMPHANT CHAPEL LIMITED TRUSTEES ANNUAL REPORT YEAR ENDED 31[ST] MARCH 2023**
law to give a true and fair vie of the state of affairs of the Charity and of the surplus or deficit for that period.
In preparing these financial statements, the trustees are required to:
- Select suitable accounting policies and then 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 operation.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which enable them to ensure that the financial statements comply with companies Act 2006. The trustees 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.
## Signed:
**----- Start of picture text -----**
Patrick Achief
Trustee
**----- End of picture text -----**
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## **CHRIST HERITAGE ASSEMBLY AKA TRIUMPHANT CHAPEL LIMITED TRUSTEES ANNUAL REPORT YEAR ENDED 31[ST] MARCH 2023**
## **RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER**
The charity’s trustees consider that an audit is not required for this year (under section 43(2) of the Charities Act 1993 (the Act) and that an independent examination is needed.
It is my responsibility to:
- examine the accounts (under section 43 of the Act);
- to follow the procedures laid down in the General Directions given by the Charity Commission (under section 43(7) (b) of the Act); and
- to state whether particular matters have come to my attention.
## **BASIS OF THE INDEPENDENT EXAMINER’S REPORT**
My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts.
## **INDEPENDENT EXAMINER’S STATEMENT**
In the course of my examination, no matter has come to my attention:
(1) which gives me reasonable cause to believe that in, any material respect, the trustees have not met the requirements to ensure that:
- proper accounting records are kept (in accordance with section 41 of the 1993 Act); and
- accounts are prepared which agree with the accounting records and comply with the accounting requirements of the Act; or
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Olalekan Akinleye, FCCA,ACMA **Independent Examiner**
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## **CHRIST HERITAGE ASSEMBLY AKA TRIUMPHANT CHAPEL LIMITED STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31[ST] MARCH 2023**
|
**INCOMING RESOURCES**
Incoming resources from generated funds
Voluntary income: Tithes and Offering
Investment Income
Total Gift Aid Repayment
**Total Incoming Resources**
**RESOURCES EXPENDED**
**Cost of generating funds:**
**Charitable expenditure**
Management and Administration
**TOTAL RESOURCES EXPENDED**
**Net Incoming (Outgoing) Resources**
Net Movement In Funds
Balance at 1stApril
Balances at 31stMarch|**2023**
**2022**
**Note**
Unrestricted Restricted Total Fund
**£** **£ £ £**
**2**
110,122 0 110,122 101200
0 0 0
0
**3**
25,301 0 25,301 20855
**135,423 0 135,423**122,055
**4**119,273 0 119,273 116,967
**5**21,181 0 21,181 28,971
**140,454 0 140,453**145,938
**-5,031 0- 5,031**-23,883
**7**
-5,031 0 -5,031 -23,883
8,168 0 8,168 78,608
**3,137 0 3,137**54,725|
|---|---|
||
|
All movements are in Unrestricted Funds
**The notes on page 12 to 16 form part of these financial statements.**
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## **CHRIST HERITAGE ASSEMBLY AKA TRIUMPHANT CHAPEL LIMITED TRUSTEES ANNUAL REPORT YEAR ENDED 31[ST] MARCH 2023**
## **BALANCE SHEET YEAR ENDED MARCH 31[ST] 2023**
|**Note**
**FIXED ASSETS**
Tangible assets
**9**
**CURRENT ASSETS**
Cash at bank in hand
**10**
**CREDITORS:Amounts falling due**
**within one year**
**11**
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT LIABILITIES**
**CREDITORS: Amounts falling due 12**
**after one year**
**NET ASSETS**
**TOTAL FUNDS**||**2023**
17,265
17,265
(6,024)
|**2022**
**£**
**£**
£
**11,396**
9,344
**11,241**
24,324|
|---|---|---|---|
||
|||
||||**22,637 33,668**
**( 19,500)**
**25,500**
**3,137**
**8,168**|
||||
**3,137 8,168**|
These financial statements were approved by the board of Trustees on 27[th] April 2023.
## **Audit Exemption Statement:**
For the year ending 31[st] March 2023, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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## **DIRECTORS’ RESPONSIBILITIES:**
The members did not require the company to obtain an audit of the accounts for the year in question in accordance with section 476.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to all small companies regime.
These financial statements were approved and signed by the directors and authorised for issue on 25[th] April 2023.
Signed: Patrick Achief **Director/Trustee**
The notes on pages 12-16 form part of these financial statements.
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## **CHRIST HERITAGE ASSEMBLY AKA TRIUMPHANT CHAPEL LIMITED TRUSTEES ANNUAL REPORT YEAR ENDED 31[ST] MARCH 2023**
## **1. ACCOUNTING POLICIES**
## **Basis of accounting**
The financial statements have been prepared under historical cost convention and in accordance with the Statement of Recommended Practice "Accounting and Reporting by Charities" (SORP 2005) issued in December 2005 and applicable accounting policies adopted in the preparation of the financial statements as follows:
## **Incoming Resources**
Income from tithes and offerings is included in incoming resources when these are receivable. Investment income consists of net interest received during the year and accounted for as unrestricted.
## **Resources expended**
Resources expended are included in the Statement of Financial Activities on accrual basis, inclusive of VAT which cannot be recovered. Certain expenditure is attributable to specific activities and has been in those cost categories.
## **Depreciation**
Depreciation is calculated so as to write off the cost of an asset on a straight line basis over the useful economic life of the asset concerned. The principal rates used for this purpose which are consistent with those of past years as follows:
|Furniture and Fittings|20%|
|---|---|
|Musical Equipment|20%|
|Motor Vehicle|25%|
|Equipment|20%|
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## **(2) DONATIONS**
|Tithe & Offering
**(3)GIFT AID REPAYMENT FOR THE YEAR**
Total gift aid repayment for the year:
**(4)COST IN THE FURTHERANCE OF CHARITABLE OBJECTS**
Provision of charitable services:
PAYE & NIC
Wages & Salary
Books & CD
Church Rent
Church events & Programs
Energy & Gas
TV Insurance
Church Administrator
Donations
Building Maintainance
Printing & Design
Water
Equipment Repairs
Members' Welfare Support
Travel & Fuel
Motor Insurance
Motor Vehicle Lease
Vehicle Maintenance & Other Costs
Business Rate
Finance Cost
Total|**2023**
**2022**
£
£
**110,122**
**101,200**
**2023**
**2022**|
|---|---|
||**£**
**£**
**25,301**
**20,855**
**2023**
**2022**
£
£
511
-
10,640
10,620
-
-
60,000
60,000
3,580
2,946
3,730
2,312
442
432
3,600
3,600
8,451
16,142
3,125
6,518
2,830
1,678
268
-
100
-
-
800
5,266
3,450
3,782
5,363
6,600
-
1,687
1,030
2,405
2,076
2,256
-
**119,273**
**116,967**|
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## **CHRIST HERITAGE ASSEMBLY AKA TRIUMPHANT CHAPEL LIMITED TRUSTEES ANNUAL REPORT YEAR ENDED 31[ST] MARCH 2023**
## **(5) MANAGEMENT AND ADMINISTRATION**
||**2023**|**2022**|
|---|---|---|
||**£**|**£**|
|Office costs|5,148|5,709|
|Accounts/Professional Fees
Total
**(6) TOTAL RESOURCES EXPENDED**|11,361
**16,509**|12,913
**18,622**|
||**2023**|**2022**|
||£|£|
|Direct charitable expenditure|**119,273**|116,967|
|Fundraising and publicity|**-**|-|
|Management and Administration|**21,181**|28,971|
||**140,454**|**145,938**|
|No salaries or benefits have been paid to trustees, including the members of the|||
|various departments during the year.|||
## **(7) TOTAL RESOURCES EXPENDED (continued)**
|Sundry expenditure
Telephone
Stationery & Office Consumables
Accounts/Professionals fees/Consultancy
Depreciation
**Total**|**2023**
**2022**
**£**
**£**
48
479
3,262 4,055
1,838 1,176
11,361 12,913
4,672
10,350
**21,181**
**28,971**|
|---|---|
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## **CHRIST HERITAGE ASSEMBLY AKA TRIUMPHANT CHAPEL LIMITED TRUSTEES ANNUAL REPORT YEAR ENDED 31[ST] MARCH 2023**
## **(9) OPERATING SURPLUS**
Operating surplus/(Deficit) is stated after charging:
|Depreciation
**(10)TANGIBLE FIXED ASSETS**
**COST:**
At April 01, 2022
Addition
Disposal
Costs at March 31, 2023
**DEPRECIATION**
As at April 01, 2022
Disposed Asset A/D
Charge for the year
**At March 31, 2023**
**NET BOOK VALUE**
**At March 31, 2023**
**At March 31, 2022**|Depreciation
**(10)TANGIBLE FIXED ASSETS**
**COST:**
At April 01, 2022
Addition
Disposal
Costs at March 31, 2023
**DEPRECIATION**
As at April 01, 2022
Disposed Asset A/D
Charge for the year
**At March 31, 2023**
**NET BOOK VALUE**
**At March 31, 2023**
**At March 31, 2022**|
|**Musical**
**Motor**
**Equipment**
**Equipment**
**Vehicle**
**£**
**£**
**£**
**1,727**
**39,434**
**12,675**
-
6,724
-
-
-|**2023**
£
**6,016**
**Furniture**
**& Fittings**
**£**
**8,956**
-|**2022**
£
**10,350**|
|---|---|---|---|---|---|
||||||**Total**
**£**
**62,792**
**6,724**
-|
||||**1,727**
**39,434**
**19,399**|**8,956**|**69,516**|
||||1,036
39,434
7,605
**345**
**2,535**|5,373
**1,791**|53,448
**4,672**|
||||1,381
39,434
10,140|7,164
**1,792**
**3,583**|58,120
**11,397**
**9,344**|
||||**346**
**-**
**9,259**|||
||||**691**
**-**
**5,070**|||
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## **CHRIST HERITAGE ASSEMBLY AKA TRIUMPHANT CHAPEL LIMITED TRUSTEES ANNUAL REPORT YEAR ENDED 31[ST] MARCH 2023**
|**(11)DEBTORS**
Deposit for Lease (Sundry Debtor)
Prepayment
**(12)CREDITORS: Amounts falling due After one year**
Covid-19 Bounce Back Loan
01/04/2022
Interest Charged
Repayment made
Balance as at 31/03/2023
**12a Creditors: Amount Falling Due within 1 year**
Capital On Tap Credit Card Card Bal as 31st March
**(13)ANALYSIS OF NET ASSETS IN UNRESTRICTED FUNDS**|**2023**
**2022**
**£**
**£**
-
-
-
-|
|---|---|
||**-**
**-**|
||**2023**
**2022**
**£**
**£**
25,500
30,000
**582**
**-**
**6,582**
**4,500**
**19,500**
**25,500**
**2,023**
**2022**|
||6,024
0|
|||
|At April 1, 2022
Surplus for the year
**At March 31, 2023**|Unrestricted Restricted
Funds
Funds
**£**
**£**
8,168
-
(5,031)
-
**3,137**
-|**Total**
**Total**|
|---|---|---|
|||**2023**
**2022**
**£**
**£**
8,168
78,608
(5,031)
(23,883)|
|||**3,137**
**54,725**|
## **(14) TAXATION**
As a charity, there is exemption from taxation on income and gains falling within section 505 of the Taxes Act 1988 or s 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax has risen in the Company.
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## **(15) SHARE CAPITAL**
The company is limited by guarantee and hence does not have Share Capital. Every member of the company undertakes to contribute to the assets of the company in the event of its being wound up while he is a member or within a year after he/she ceases to be a member.
This amount is limited to £1 per member or former member.
## **(16) RELATED PARTY TRANSACTION**
No payments were made to trustees or any other persons connected with them during this financial period in their capacity as trustees. No material transaction took place between the Charity and a trustee or any person connected with them.
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