IPER R••N Fm (TRTh (llT CHARITY No. 1134967 TRUSTEES. REPORT AND FINANCIAL STATEMENTS
UPPER ROOM FIRE CHRISTIAN CENTRE CONTENTS Pages Administrative Information Trustees Report Independent Examiners, Report Statement of Financial Activities Statement of Financial Position Notes to the Accounts
UPPER ROOM FIRE CHRISTIAN CENTRE Administrative Inforniation for the year ended 31 st March 2024 Trust8es: Pastor Olajide Omotayo Akinbola OILwrfaJinmi Pastor James Oladimeji Mrs Gloria Oladimej Mrs Francesca Akinyemi chairsrsOn Secretary Charity Registerod Number: 1134967 Registered Office: 6 Whernside Cbse London SE28 8HB Independent Examiner: Enochs Financial Services Ltd 15 St Joseph's Close London W105GL Banker: HSBC
UPPER ROOM FIRE CHRISTIAN CENTRE Trustees Report for the year ended 31st March 2024 The Trustees of the Upper Room Fire Christain Centre present their report and financial statements for the year ended 31st March 2024. The trustees have adopted the provision of the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities" in accordance with the Financial Reporting Standard applicable in the UK and the Republic of Ireland (FRS 102) } (effective 1 January 2019). Charlty Detalls A list of names and addresses of the charity's principal officers and bankers is set out on page 2. Objectives and Activities The charitys, principal actrvty are for the benefit of the public: 1) The advancement of the Christain religion through worship and prayer to God 2) To promote the work of the Church within the community and assisting those in need 3) To demonstrate care & love to the vulnerable & less pnvilege The Charity continues in its public benefrt reswisibilities by encouraging people to join the church freely for spiritual worship and eThJage in a number of social functions. The Chartty has been committed in its effort of advancing the objectives of the Church in general and in providing welfare for members and the wider communty who are facing hardship. Oryanisation Upper Room Fire christian Centre trustees who were elected to see the church and run its affairs. Annually the Board reviews the range of skills available and uses its p)wer of c(H)ption to ensure the gaps are filled. Rlsk and Internal Control The Trustees review the main operatsonal risks and actions to manage or miti'gate it accordingly. The Board of Trustees has reviewed the effectiveness of the system of internal control. In particular. it has reviewed and updated the prO$S for identrfying and evaluating the major risks affecting the business and the policies pi(Kedures by which these risks are managed. Review of Transactions and Financial Position Income Resources The total income of the organisatKJn for the year has been derived from its principal activib'es wholly undertaken in the United Kingdom. During the year, income resour$ and gift received totalled £107,150. The donations and gift received have been made available without restriction as to its useage. While Ihe total expenditure for the year was £106,670. The balance on the charitys fund are unrestricted. These will be used to fund the charitys objectives during the next financial year. The trustees confirmed that the charivs assets are available and adequate to enable the charity fulfil its obligations Reserve Policy It is the URFCC policy to transfer on a monthty basis the sum of £5(X) from the unrestricted income resources to a restricted account towards the part-financing and acquisition of a place of worship ft)r the church. As the church grows we intend to VIeW and increase the fund.
UPPER ROOM FIRE CHRISTIAN CENTRE Trustees Report for th• year ended 31st PAarch 2024 Stslwnents of th? TrustO08' Rosponslbilitlos L&v applicable to Gharilies in England and Wal8s requwes the twstees to prepare finsnclal Statements for each flnarthl yw thlch ve true and fair view of the charitys financkl acttvltles durtng the year and of s financRI posltkjn at the end of the year. In kYeparirKJ those financtal stments. the trustees are requulr8d to; a} Select suitable accountlng pollcles and apply them conslslenty. b) Make JUdgnent and estimates Ihai are responsible and prud• c) Stat8 whéther appliGatAe accounting standards and statements of recwnmended practlce hwft been followed, subj to departures disclosed explaed in the financlal Statent. d) Prepare the financial statements rjn 8 gdNJ coroern basls unless it Is inapproprsite to presume that Ihe Chafty y11 Contin on that basis. The Trustees are responsible tr ensuring thal Proper books are Mntaned, for safe guidin9 the assets of the chatity. and taking reasonable steps for the preventton and detection of fraud and oiher Irregularities. The txmrd has V[eVd the effecbvesness of the system of brternal ctrOl and there are no materw wE8knesses that would resulted in tosses. contyth and unGertainties Ihat require a separ* d16Glosure in thue accounts. This report is pr8pared in accordance witr) Ihe Vial prry4181 of Part 15 ollhe Companies Act 2006 relating to smal c(xnpanl85. Approved by ordor ofthe Board of Tntstees on 3 May 2024 and sbned.. On Behalf of The Board Mrs Francesca Akinyeml Trustee Pastor Olajmle OrrKbtayD Trustee
UPPER ROOM FIRE CHRISTIAN CENTRE Report of the Independent Examiner to the trustees on the accounts of the Charity for the year ended 31 March 2024 I report on the financial statements of the Charity on which have been prepared in accordance wÈth the Charities Act 1993 and with the Financial Reporting Standard for Smaller Entilies {FRSSE) effective April 2008. as modlfied by the statement of Recommended Practice for Accounting and Reporting issued by the Charity Commission for England & Wales, effective April 2005 as modified in June 2008. (The SORP). under the historic cost convention and the accountiru policies set out on pages7 to 11. Respective Responsibilities of Trustees and Examiner The Chariws trustee are sponsible for the preparation of the financial statements. The trustees have acknowledged there responsibilities as stated on page 2 of the financial statement and has taken advantage of the exemption applicable to small companies. The trustees are satisfied that the audit requirement of Section 42(2) of the Charib'es Act 1993 does not apply 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, and that there is no requirement in the governing document or constitution of the Charity for the conducting of an audit. As a consequence, the trustees have elected that the financial statements be subject to independent examination. Having satisfied myself that the charity is not subject to audit under company law. or otherwise, and is eligible for independent examination. it is my responsibility to:_ a) examine the accounts urhjer Section 145 of the 2011 Art b) to follow the procedures laid down in the General D*e¢tions given by the Charity Commission under Section 145(5)(b) of the ACL c) to state whether particular matters have come to my attention. Basis of Opinion and Scope of Work Undertaken I conducted my examination in accordan with the Geneial Directions given by Charty Commissioners for England & Wales setting out the dub.es of an independent examiner. It is my responsibility to form an independent opinion as to the charity entitlement lo the exemption claimed by the trustee. I have carried out the produre we considered necessary to confinn whether or not the chafity is entitled to the exemptions. I have compared the accounts with accounting records kept by the charity and making such limited enquiries of the trustees of the charity. which I considered necessary for the purpose of this report. These prOdureS provided only the assurance expressed by me to the trustees and members of the committee. Independent Examiner's Statement, Report and Oplnlon Subject to the limitations upon the scope of rny Vrk as detailed above, in connection with my examination, I can confinn Ihat., 1) In accordance with RegUlatk 31 of the Charity (Accounts and Report) Regulations 2008, the accounts of this charity are not required to be audited under section 477 of the Companies Act 2006
UPPER ROOM FIRE CHRISTIAN CENTRE 2) This report in respect of an examination Caled out under section 43 of Charities 1993 and in accordance with any directions given by the Commisston under sub-section {7)(b) of thal section which are applicable; (i) the accounting records are kept in accordance with section 386 of the Companies Act 2006 (ii) the financial statements were prepared in accord with the accounting records and comply wtth the accounts.ng qUirements of section 396 of Companies Act 20(E and: (iii) the financial statements were prepared in accordance with the methods aThJ principles set out in the statement of Recommended Practice - Accounting and Reporting by Charities. Wale Ajibola > Enoch's Financial Services Ltd 15 St Joseph's Close London W10 5GL ISL
UPPER ROOM FIRE CHRISTIAN CENTRE STATEMENT OF FINANCIAL ACTIVITIES For the year ended 31 March 2024 Unrestrlcted funds 2024 2023 Notes Income Resources Donations and Legacies 93.841 95.782 Investiments Other Income 125 13.184 38 10.812 Total Income Resources 107.150 106,632 Resources Expended Cost of activities in fUrtherran of Charitable Activities Management & Administratton of charity Governance Cost Finance Cost Total Resources Expended 31,356 71,450 2,339 1,525 106,670 31.830 71.958 1.550 1,250 108,588 Net Income (Outgoing) Resources Net Movement in Funds Cash Funds BIF Adjustment 480 17.208 17.164 Total Funds Carried Forward 7,688 17,208
UPPER ROOM FIRE CHRISTIAN CENTrE Charity No. 1134967 STATEMENT OF FINANCIAL posrrioN AS AT 31ST MARCH 2024 Unffjstrlcted 2024 2023 Assots Retalned for Charity s own use Tarylble P4sets 7.998 5,653 Ca8h Funds DetrAors CashlBank NET CURRENT ASSErs 2,908 12.312 14.868 15.492 TOTAL ASSETS 21.145 Lknbllltles Amount faIn9 duo morg th8n one year 6.178 3,937 TOTAL NET ASSETS 17308 Charlty Funds Unrestricted General Funds BIF Net Income for the Year Adjustrnent TOTAL FUNDS 17,208 17.184 44 SIgrd on behalf of al trusts¥. 5151£4 Mrs Francesca Akinyemi (frustee) SAgrBture Pastoi Olajida Omotayo (Trustee) Date 615] 21
UPPER ROOM FIRE CHRISTIAN CENTRE NOTES TO THE ACCOUNTS Notes to the Accounts for the year ended 31st March 2024 Accountlng Pollcles Basis of Preparation The accounts have been prepared in accordance with the Statement of Recommended Practice Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporttng Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) and the Financial Reporting Standard applicabte in the United Kingdom and Republic of Ireland (FRS 102) and the Gharits"es Act 2011. Incoming Resources All incoming resources are included on the Statement of Financial Acb'vities when the the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. Donations and other incoming resources are iecoided when they afere1Vab1e. Resources Expended All expenditures are accounted for on accrual basis and have been classified under headings that aggregate all costs related to the category. The charity expendttures represents the amount expended by the church in the current reporting period ended 31st March 2023 Charitable Actlvltles: Costs of charrtable activities are those costs relatsng to the activits.es carried out to meet the objectives of the Church. These include both directly attributable costs and apportioned support costs. Governance Costs: Governance costs are the costs associated with the strategic direction of the organisation and with meeting regulatory responsibilities induding apportioned support cosL Taxation As a charity. the charitable funds are exempt from corporation tax but not from VAT. Tangible Fixed Assets: Depreciation has been provided at the folk)wiffMJ rates on a reducin9 balance methods. Plant and Machinery Fittings and Fixtures 10% 10% Voluntary Income 2024 2023 Unrestricted Donalions ReiVed Restricted Income Received Total Incoming Resources 87,841 19,309 107,150 89,752 16,880 106,632
UPPER ROOM FIRE CHRISTIAN CENTRE NOTES TO THE ACCOUNTS (CONTINUED) for tha year ended 31st March 2024 Fixed assets Plant & Machinery Fittings & Fixthr8 Total Cost As At 1 April 2023 Addition During the Year Disposavwritten off At 31 March 2024 66,389 3.800 9,677 2.850 76,066 6.650 70.189 12,527 82,716 Depreciation As At 1 April 2023 Charge for the year DisposaLIWritten off At 31 March 2024 62714 3.055 7699 1,250 70.413 4.305 65,769 8,949 74.718 Net Book Value At 31 March 2024 4,420 3,578 7.998 At 31 March 2023 3,675 1.978 5.653 All fixed assets are used for direct charitable purposes. Creditors Amount falling due within one year 2024 2023 other Greditors: Accwntancy fees Other Creditors- Rent 1,665 3.513 5,178 1,525 2,412 3,937 Unrestricted Funds 2024 2023 Unrestricted Funds brought forward Unrestricted Funds for the year Adjustment As at 31 st March 2023 131st March 2022 17.208 480 17,164 17.688 17.208 10
UPPER ROOM FIRE CHRISTIAN CENTRE NOTES TO THE ACCOUNTS (CONTINUED) for tha year ended 31st March 2024 Detalled Income and Expendlture Account for the year to 31st hlarch 2024 2024 2023 6.1 Income Resources Incoming from offering, tithes, building & ott Investments Gift Aid Total Incoming Resources 93,841 125 13,184 107.150 95,782 38 10,812 106,632 Resources Expended 6.2 Costs of activities in furtherance of the charities objects: Staff Cost - Salaries and Wages Evangelism and Spiritual Events Donations 26.880 4.476 26,880 4,950 31,356 31,830 6.3 Managemant and Adrninistrative of charty: Depreciation Rent Rates & Water Insurance Light & Heating Postage & Telecommuntcations Repairs and Renewals Advertising & Publicity Transport & Tiavelling 4.035 45.546 3,350 4,250 10.245 1.875 1,020 425 704 71,450 3,088 45,546 3,288 4,817 10,455 2,000 985 388 1,391 71,958 6.4 Governance Costs Professional Fees 2.339 1,550 6.5 Flnance Bank Charges 1.525 1,250 Total Resources Exp8nded 106,670 106.588 Net Expenditure £480 £44 11