Charity number: 1132751
DOMINION CHRIST CHURCH
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2021
DOMINION CHRIST CHURCH
CONTENTS
| Page | |
|---|---|
| Reference and administrative details of the Charity, its Trustees and advisers | 1 |
| Trustees' report | 2 - 3 |
| Independent examiner's report | 4 |
| Statement of financial activities | 5 |
| Balance sheet | 6 |
| Notes to the financial statements | 7 - 15 |
DOMINION CHRIST CHURCH
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2021
Trustees Cynthia Skervin Bishop Godwin M Ajaegbu Nkechinyere Ogbunachara Grace Baile
Charity registered number 1132751 Principal office 6 Theobald Crescent Harrow HA3 5NB Accountants Zurish Associates 312 High Road Tottenham London N15 4BN
Page 1
DOMINION CHRIST CHURCH
TRUSTEES' REPORT FOR THE YEAR ENDED 31 AUGUST 2021
The Trustees present their annual report together with the financial statements of the Dominion Christ Church for the 1 September 2020 to 31 August 2021.
Objectives and activities
a. Policies and objectives
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
Achievements and performance
Financial review
a. Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
Structure, governance and management
a. Constitution
Dominion Christ Church is a registered charity, number 1132751, and is constituted under a Trust deed.
b. Methods of appointment or election of Trustees
The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.
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DOMINION CHRIST CHURCH
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021
Statement of Trustees' responsibilities
The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles of the Charities SORP (FRS 102);
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make judgments and accounting estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. 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.
Approved by order of the members of the board of Trustees and signed on their behalf by:
................................................ Bishop Godwin M Ajaegbu
Date: 16 October 2021
Page 3
DOMINION CHRIST CHURCH
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 AUGUST 2021
Independent examiner's report to the Trustees of Dominion Christ Church ('the Charity')
I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 August 2021.
Responsibilities and basis of report
As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Your attention is drawn to the fact that the Charity has prepared the accounts in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.
I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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 accounts to be reached.
This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.
Signed: Dated: 16 October 2021 Samson Okereke FFA
Samson Okereke
Page 4
DOMINION CHRIST CHURCH
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2021
| Note Income from: Donations and legacies 3 Interest income Total income Expenditure on: Charitable activities 4 Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2021 £ 85,102 - 85,102 78,391 78,391 6,711 17,130 6,711 23,841 |
Total funds 2021 £ 85,102 - 85,102 78,391 78,391 6,711 17,130 6,711 23,841 |
Total funds 2020 £ 69,142 9 |
|---|---|---|---|
| 69,151 | |||
| 61,152 | |||
| 61,152 | |||
| 7,999 | |||
| 9,131 7,999 |
|||
| 17,130 |
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 7 to 15 form part of these financial statements.
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DOMINION CHRIST CHURCH
BALANCE SHEET AS AT 31 AUGUST 2021
| Note Fixed assets Tangible assets 8 Current assets Debtors 9 Cash at bank and in hand Creditors: amounts falling due within one year 10 Net current assets Total assets less current liabilities Creditors: amounts falling due after more than one year 11 Net assets excluding pension asset Total net assets Charity funds Restricted funds Unrestricted funds Total funds |
7,528 1,196 8,724 (1,250) |
2021 £ 41,367 41,367 7,474 48,841 (25,000) 23,841 23,841 - 23,841 23,841 |
5,000 32,307 37,307 (500) |
2020 £ 5,323 5,323 36,807 42,130 (25,000) 17,130 17,130 - 17,130 17,130 |
|---|---|---|---|---|
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
................................................ Bishop Godwin M Ajaegbu
Date: 16 October 2021
The notes on pages 7 to 15 form part of these financial statements.
Page 6
DOMINION CHRIST CHURCH
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021
1. General information
Dominion Christ Church is a charity registered in England with the Charity Commission.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
Dominion Christ Church meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
2.2 Income
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.
2.3 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
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DOMINION CHRIST CHURCH
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021
2. Accounting policies (continued)
2.4 Tangible fixed assets and depreciation
Tangible fixed assets costing £NIL or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
| Short-term leasehold property | - | 10% |
|---|---|---|
| Motor vehicles | - | 25% |
| Office equipment | - | 25% |
2.5 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
2.6 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
2.7 Liabilities and provisions
Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
2.8 Financial instruments
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
2.9 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
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DOMINION CHRIST CHURCH
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021
3. Income from donations and legacies
| Donations Gift aid Donations Gift aid |
Unrestricted funds 2021 £ 69,851 15,251 85,102 Unrestricted funds 2020 £ 58,886 10,256 69,142 |
Total funds 2021 £ 69,851 15,251 |
|---|---|---|
| 85,102 | ||
| Total funds 2020 £ 58,886 10,256 |
||
| 69,142 |
4. Analysis of expenditure on charitable activities Summary by fund type
| Direct costs Direct costs |
Unrestricted funds 2021 £ 78,391 Unrestricted funds 2020 £ 61,152 |
Total funds 2021 £ 78,391 |
|---|---|---|
| Total funds 2020 £ 61,152 |
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DOMINION CHRIST CHURCH
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021
5. Analysis of expenditure by activities
| Church services Church services Analysis of direct costs Staff costs Depreciation Direct service costs Rent & hall hire Travel Motor expenses Insurance Legal & prof. fees Accountancy Media & telecoms Training Welfare Volunteer expenses Honorarium |
Activities undertaken directly 2021 £ 78,391 Activities undertaken directly 2020 £ 61,152 Church services 2021 £ 9,087 2,656 12,125 25,400 2,350 3,318 253 2,150 700 5,228 1,150 6,895 2,829 4,250 78,391 |
Total funds 2021 £ 78,391 |
|---|---|---|
| Total funds 2020 £ 61,152 |
||
| Total funds 2021 £ 9,087 2,656 12,125 25,400 2,350 3,318 253 2,150 700 5,228 1,150 6,895 2,829 4,250 |
||
| 78,391 |
Page 10
DOMINION CHRIST CHURCH
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021
5. Analysis of expenditure by activities (continued)
Analysis of direct costs (continued)
| Staff costs Depreciation Direct service costs Rent & hall hire Travel Motor expenses Insurance Legal & prof. fees Accountancy Media & telecoms Training Welfare Volunteer expenses Honorarium |
Church services 2020 £ 6,480 2,656 8,949 20,400 2,495 2,189 200 2,100 450 3,849 798 3,717 1,574 5,295 61,152 |
Total funds 2020 £ 6,480 2,656 8,949 20,400 2,495 2,189 200 2,100 450 3,849 798 3,717 1,574 5,295 |
|---|---|---|
| 61,152 |
6. Staff costs
| Wages and salaries | 2021 £ 9,087 9,087 |
2020 £ 6,480 |
|---|---|---|
| 6,480 |
The average number of persons employed by the Charity during the year was as follows:
| 2021 | 2020 | |
|---|---|---|
| No. | No. | |
| Administrative | 2 | 1 |
No employee received remuneration amounting to more than £60,000 in either year.
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DOMINION CHRIST CHURCH
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021
7. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2020 - £ nil).
During the year ended 31 August 2021, no Trustee expenses have been incurred (2020 - £NIL) .
8. Tangible fixed assets
| Cost or valuation At 1 September 2020 Additions At 31 August 2021 Depreciation At 1 September 2020 Charge for the year At 31 August 2021 Net book value At 31 August 2021 At 31 August 2020 Debtors Due within one year Prepayments and accrued income |
Short-term leasehold property £ - 38,700 38,700 - - - 38,700 - |
Motor vehicles £ 8,500 - 8,500 8,499 - 8,499 1 1 |
Office equipment £ 34,563 - 34,563 29,241 2,656 31,897 2,666 5,322 2021 £ 7,528 |
Total £ 43,063 38,700 81,763 37,740 2,656 40,396 41,367 5,323 2020 £ 5,000 |
||
|---|---|---|---|---|---|---|
| 7,528 | 5,000 |
9. Debtors
10. Creditors: Amounts falling due within one year
2021
2020
Page 12
DOMINION CHRIST CHURCH
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021
10. Creditors: Amounts falling due within one year (continued)
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| £ | £ | |
| Accruals and deferred income | 1,250 | 500 |
11. Creditors: Amounts falling due after more than one year
| Bank loans The unsecured loan is in respect of business bounce back loan. |
2021 £ 25,000 |
2020 £ 25,000 |
|---|---|---|
12. Financial instruments
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Financial assets | ||
| Financial assets measured at fair value through income and expenditure | 1,196 | 32,307 |
Financial assets measured at fair value through income and expenditure comprise cash and cash equivalents.
Page 13
DOMINION CHRIST CHURCH
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021
13. Summary of funds
Summary of funds - current year
| Balance at 1 September 2020 £ General funds 17,130 Summary of funds - prior year Balance at 1 September 2019 £ General funds 9,131 14. Analysis of net assets between funds Analysis of net assets between funds - current year |
Income £ 85,102 Income £ 69,151 |
Expenditure £ (78,391) Expenditure £ (61,152) |
Balance at 31 August 2021 £ 23,841 |
|---|---|---|---|
| Balance at 31 August 2020 £ 17,130 |
|||
| Unrestricted funds 2021 £ Tangible fixed assets 41,367 Current assets 8,724 Creditors due within one year (1,250) Creditors due in more than one year (25,000) Total 23,841 |
Total funds 2021 £ 41,367 8,724 (1,250) (25,000) 23,841 |
|---|---|
Page 14
DOMINION CHRIST CHURCH
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021
14. Analysis of net assets between funds (continued)
Analysis of net assets between funds - prior year
| Tangible fixed assets Current assets Creditors due within one year Creditors due in more than one year Total |
Unrestricted funds 2020 £ 5,323 37,307 (500) (25,000) 17,130 |
Total funds 2020 £ 5,323 37,307 (500) (25,000) 17,130 |
|---|---|---|
15. Trustees' personal guarantees
Each trustee of the charity undertakes to contribute to the assets of the charity in the event of it being wound up while they are a member, or within one year after they cease to be a trustee, such amount as may be required, not exceeding £1, for the debts and liabilities contracted before they ceased to be a trustee.
Page 15