CELESTIAL CHURCH OF CHRIST LIVING WORD MINISTRIES 31ST DECEMBER 2021
COLINSON & CO ACCOUNTANTS & TAX CONSULTANTS 152 FOREST ROAD, LONDON E17 6JQ
CELESTIAL CHURCH OF CHRIST LIVING WORD MINISTRIES Report and Accounts for the year ended 31 December 2021
CHARITY REGISTRATION NUMBER IN ENGLAND AND WALES 1135048
CELESTIAL CHURCH OF CHRIST LIVING WORD MINISTRIES Reports and Accounts
CONTENTS
| Charity Information | 1 |
|---|---|
| Trustees annual report | 2 |
| Accountant's Report | 3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 |
| Notes to Accounts | 6 - 8 |
CELESTIAL CHURCH OF CHRIST LIVING WORD MINISTRIES FINANCIAL STATEMENT FOR THE YEAR ENDED 31ST DECEMBER 2021
Charity Information
Trustees
Mr Peter Omoniyi Member Mr Lambert Ijaniyi Chairman Mr Emmanuel Oloyede Shepherd Mr Toyin Olajide A/Shepherd Mr Ebenezer Ayodeji Oloyede Secretary Mrs Kikelomo Oduja Member
Charity Registration No:
1135048
Principal Location
1 Brunwick Square Tottenham London N17 8ES
Bankers
Lloyds TSB Bank Walthamstow Branch P.O. Box 1000 BX1 1LT
Accountants
Colinson & Co 152 Forest Road London E17 4JQ
Page 1 CELESTIAL CHURCH OF CHRIST LIVING WORD MINISTRIES TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2021
The trustees have the pleasure of submitting their report and the financial statements for the year ended 31 December 2021.
Review of Financial Position
Please refer to the annexed accounts for the details of the financial statements for the year ended 31 December 2021.
Reserves Policy
The trustees would like to work towards a situation whereby the charity could maintain unrestricted funds at a level which equates to approximately three months of unrestricted expenditure.
Trustees' Responsibilities in Relation to the Financial Statements
The Charities Act requires the Trustees to prepare financial statements for each financial year, which giv a true and fair view of the state of affairs of the charity and of the surplus or deficit of the charity for that period. In pa) Select suitable accounting policies and apply them consistently;
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b) Make judgements and estimates that are reasonable and prudent;
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c) State whether applicable accounting standards and statements of recommended practice have been followed, subject to any departures disclosed and explained in the financial statements.
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d) Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in 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 to enable them to ensure that the financial statements comply with the Charities Act. They are also responsible for safeguarding the assets of the charity and hence for taking any reasonable steps for the prevention and detection of fraud and other irregularities.
Approval
This report was approved by the Board of Trustees and signed on their behalf by:
Signature: emmanolea
Name: Emmanuel A Oloyede
Date:
Page 2 CELESTIAL CHURCH OF CHRIST LIVING WORD MINISTRIES
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CELESTIAL CHURCH OF CHRIST LIVING WORD MINISTRIES
I report on the accounts of the Trust for the year ended 31 December 2021, which are set out on pages 4 to 8.
RESPECTIVE RESPONSIBILITIES OF THE TRUSTEES AND EXAMINER
As the Charity's Trustees, you are responsible for the preparation of the Account: you consider that the audit requirement of section 43(2) of the Charities Act 1993 ("the Act") does not apply. It is my responsibility to:
-
. Examine the accounts under section 145 of the 2011 Act;
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. to follow the procedure s laid down in the general Directions given by the Charity Commission under section 145(5) of the 2011 Act;
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. to state whether particulat matters have come to my attention.
BASIS OF 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 no opinion is given as to whether the accounts present a true and fair view' and the report is limited to those matters set out in the statement below.
INDEPENDENT EXAMINER'S STATEMENT
In connection with my examination, no matter has come to my attention:
-
Which gives me reasonable cause to believe that in any material respect the requirements:
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to keep accounting records in accordance with section 130 of the 2011 Act, and
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to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the 2011 Act.
have not been met: or
- to which, in my opinion, attention be drawn to enable a proper understanding of the accounts to be reached.
Colinson & Co 152 Forest Road London E17 4JQ
Page 3 CELESTIAL CHURCH OF CHRIST LIVING WORD MINISTRIES Statement of Financial Activities for the year ended 31 December 2021
| Notes Incoming Resources Incoming resources from generated funds: Voluntary income:donations 1a Gift Aid Receivable 1b objects Total Incoming Resources Resources Expended Charitable activities: Gifts and donations and other charitable 2 purposes Governance costs: Management & Administration 3 Total Resources expended Net Incoming/(Outgoing) Resources for the year Net Movement in Funds 4 Accumulated Fund b/fwd 6 |
2021 Unrestricted Restricted Total £ £ £ 68,806 - 68,806 10,020 10,020 |
|---|---|
| 78,827 - 78,827 |
|
| 10,262 - 10,262 64,734 64,734 |
|
| 74,996 0 74,996 |
|
| 3,831 0 3,831 |
|
| 3,831 0 3,831 (13,194) - (13,194) |
|
| (9,363) - (9,363) |
All disclosures relate to the continuing operations. There are no recognised gains or losses other than those disclosed above.
Page 4 CELESTIAL CHURCH OF CHRIST LIVING WORD MINISTRIES Balance sheet as at 31 December 2021
| Notes FIXED ASSETS Tangible Fixed Assets 7 CURRENT ASSETS Debtors Cash in Hand/ Bank CURRENT LIABILITIES Amount falling due within a year 9 NET CURRENT ASSETS/ (LIABILITIES) LONG TERM LIABILITIES Amount falling due more than a year 10 NET ASSETS TOTAL FUNDS |
£ - 4,333 |
£ - 4,333 |
2021 2020 £ £ - 0 |
2021 2020 £ £ - 0 |
|
|---|---|---|---|---|---|
| 909 909 0 |
|||||
| (10,167) | 909 | ||||
| (9,363) | 909 |
Approved by the Trustees and Signed on their behalf:
Signature: emmanolea
Name: Emmanuel A Oloyede
Date:
Page 5 CELESTIAL CHURCH OF CHRIST LIVING WORD MINISTRIES Notes to the financial statements for the period ended 31 December 202
ACCOUNTING POLICIES
The accounts have been prepared under the 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 in the preparation of the financial statements are as follows.
1. INCOMING RESOURCES
These are recognised in full in the Statement of Financial Activities in the period in which they are received. Included are income from tithes, offerings and interest received during the year from investments and accounted for as unrestricted-funds.
| 1a. Voluntary Income: Donations, Tithes & Offerings Gift Aid Receivable |
2021 2020 £ £ 68,806 34,304 10,020 7,693 |
|---|---|
| 78,827 41,996 |
2. DIRECT CHARITABLE EXPENDITURE
This comprises all expenditure directly related to the objects of the of the charity. It also includes the expenditure in support of that activity where material.
| CHARITABLE EXPENDITURE ises all expenditure directly related to the objects of the of the e in support of that activity where material. |
charity. It also includes the |
|---|---|
| Donations Spiritual Materials Harvest /Expenses Transportation Accountancy fee |
2021 2020 £ £ 1,314 2,700 1,914 998 5,480 1,500 1,054 170 500 500 |
| 10,262 5,868 |
3. MANAGEMENT AND ADMINISTRATION
| EMENT AND ADMINISTRATION | ||
|---|---|---|
| 2021 | 2020 | |
| £ | £ | |
| Pastor's Returns | 2,400 | 2,400 |
| Rent & Rates | 37,564 | 25,365 |
| Light & heat | - | 5,863 |
| Telephone & fax & internet | 351 | 1,000 |
| Honorarium Church Materials Printing, postage & stationery Insurance Repairs & renewals Legal & professional fees Bank charges & interest Van Maintenace Depreciation 4. NET MOVEMENT IN FUNDS FOR THE YEAR The net movement in funds for the year is stated after charging: Depreciation of tangible fixed assets |
2,342 1,470 4,609 3,028 625 1,000 771 723 13,418 9,870 2,505 2,589 148 148 - - - - |
|---|---|
| 64,734 53,457 |
|
| 2021 2020 £ £ - 228 |
|
| - 228 |
Page 6
5.DEPRECIATION
Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
| Musical Instrument Computer Furniture chairs Motor Van 6. FUNDS At 1 January Surplus/(Deficit) for the year At 31 December |
25% straight line 20% straight line 10% straight line 20% straight line Unrestricted Restricted Total Funds Funds Funds 2019 £ £ £ (9,363) - (9,363) (14,102) (14,102) (23,465) - (23,465) |
|---|---|
6.1 UNRESTRICTED FUNDS
These are grants and donations received or receivable for the objects of the charity without restrictions as to purpose but are available as general funds.
6.2 RESTRICTED FUNDS
Restricted funds are used for the purpose as specified by the donor. Expenditure that meets these criteria is identified to the fund.
Musical Furniture/ Motor Van Instruments Computer Fitting Total
| 7. FIXED ASSETS Cost At 1 January 2021 Additions Disposals 1At 31 December 2021 Depreciation At 1 January 2021 Charge for the year Disposals At 31 December 2021 Net Book Value At 31 December 2021 At 31 December 2020 8. Bounce Back Loan BB Loan 9.CREDITORS:AMOUNTS Accountancy fee Sundry Creditors |
£ £ 2000 1385 1,300 - - - - - - |
£ £ 2,325 7,010 - - - - |
|---|---|---|
| 2000 1385 1,300 |
2,325 7,010 |
|
| 2,000 1385 1,300 0 0 - |
2,325 7,010 - - - |
|
| 2,000 1,385 1,300 |
2,325 7,010 |
|
| - - - |
- - |
|
| - - - |
- - |
|
| FALLING DUE WITHIN ONE YEAR | 2021 2020 £ £ 14,000 15,000 |
|
| 14,000 15,000 |
||
| 2021 2020 £ £ 500 500 - - |
||
| 500 500 |
Page 7
1
2020 Total £
34,304 7,693 41,997
2,642
53,457 56,099 (14,102)
(14,102)
908 (13,194)
18041