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2022-12-31-accounts

CELESTIAL CHURCH OF CHRIST LIVING WORD MINISTRIES 31ST DECEMBER 2022

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 2022

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 2022

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

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 2022

The trustees have the pleasure of submitting their report and the financial statements for the year ended 31 December 2022.

Review of Financial Position

Please refer to the annexed accounts for the details of the financial statements for the year ended 31 December 2022.

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 give 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;

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 2022, 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;

. to follow the procedure s laid down in the general Directions given by the Charity Commission under section 145(5) of the 2011 Act;

. 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:

  1. Which gives me reasonable cause to believe that in any material respect the requirements:

  2. to keep accounting records in accordance with section 130 of the 2011 Act, and

  3. 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

  1. 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 2022

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		 2022
2021
Unrestricted Restricted
Total
Total
£
£
£
£
66,620
-
66,620
68,806
16,729
16,729
10,020
83,349
-
83,349
78,827
11,518
-
11,518
10,262
72,199
72,199
64,734
83,717
0
83,717
74,996
(369)
0
(369)
3,831
(369)
0
(369)
3,831
(9,363)
-
(9,363)
13,194
-
(9,732)
-
(9,732)
(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 2022

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		 £
-
3,898		 2022
2021
£
£
-
0		 2022
2021
£
£
-
0
-
-
4,333

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 2022

#

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		 2022
2021
£
£
66,620
68,806
16,729
10,020
83,349
78,827

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.

e in support of that activity where material.
Donations
Spiritual Materials
Harvest /Expenses
Transportation
Accountancy fee		 2022
2021
£
£
3,422
1,314
2,291
1,914
4,058
5,480
1,247
1,054
500
500
11,518
10,262

3. MANAGEMENT AND ADMINISTRATION

Pastor's Returns
Rent & Rates
Light & heat
Telephone & fax & internet
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		 2022
2021
£
£
2,400
2,400
32,879
37,564
-
-
403
351
8,045
2,342
6,145
4,609
141
625
-
771
16,660
13,418
2,020
2,505
3,348
148
157
-
-
72,199
64,734
2022
2021
£
£
-
-
-
-

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
2022
£
£
£
(9,363)
-
(9,363)
(369)
(369)
(9,732)
-
(9,732)

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.

7. FIXED ASSETS
Cost
At 1 January 2022
Additions
Disposals
At 31 December 2022
Depreciation
At 1 January 2022
Charge for the year
Disposals
At 31 December 2022
Net Book Value
At 31 December 2022
At 31 December 2021
8. Bounce Back Loan
BB Loan
9.CREDITORS:AMOUNTS
Accountancy fee
Sundry Creditors		 Motor Van
Musical
Instruments Computer		 Furniture/
Fitting
Total
£
£
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 2022
2021
£
£
14,000
14,000
14,000
14,000
2022
2021
£
£
500
500
-
-
500
500

Page 7