## **CELESTIAL CHURCH OF CHRIST LIVING WORD MINISTRIES 31ST DECEMBER 2024**
**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 2024**
**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 2024**
## **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 2024**
The trustees have the pleasure of submitting their report and the financial statements for the year ended 31 December 2024.
## **Review of Financial Position**
Please refer to the annexed accounts for the details of the financial statements for the year ended 31 December 2024.
## **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;
- b) Make judgements and estimates that are reasonable and prudent;
- 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.
- 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 2024, 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:
- to keep accounting records in accordance with section 130 of the 2011 Act, and
- 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
2. 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 2024**
|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|**2024**
Unrestricted Restricted
Total
£
£
£
82,533
-
82,533
19,344
19,344|
|---|---|
||**101,878**
**-**
**101,878**|
||11,518
-
11,518
85,050
85,050|
||**96,568**
**0**
**96,568**|
||5,310
0
5,310|
||5,310
0
5,310
(10,836)
-
(10,836)|
||**(5,526)**
**-**
**(5,526)**|
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 2024**
|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**|£
-
3,530|£
-
3,530||**2024**
**2023**
£
£
-
0|
|---|---|---|---|---|
|||||-
-
-
4,333
4,333
(500)
3,030
3,833
3,030
3,833
8,556
(14,000)|
||||||
||||||
||||(5,526)
(10,167)||
||||||
||||(5,526)
(10,167)||
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|**2024**
**2023**
£
£
82,533
68,806
19,344
10,020|
|---|---|
||101,878
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.
|**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|**2024**
**2023**
£
£
3,422
1,050
2,291
2,412
4,058
4,389
1,247
1,700
500
4,036|
||**11,518**
**13,587**|
## **3. MANAGEMENT AND ADMINISTRATION**
|**EMENT AND ADMINISTRATION**|||
|---|---|---|
||**2024**|**2023**|
||£|£|
|Pastor's Returns|1,200|2,120|
|Rent & Rates|51,365|36,000|
|Light & heat|-|5,897|
|Telephone & fax & internet|287|414|
|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|846
5,486
6,429
10,151
6,429
1,085
994
1,158
15,000
15,320
2,500
2,667
-
552
-
-
-|
|---|---|
||**85,050**
**80,850**|
||**2024**
**2023**
£
£
-
-|
||-
-|
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**
**2024**
**£**
**£**
**£**
(9,363)
-
(9,363)
5,310
5,310
(4,053)
-
(4,053)|
|---|---|
## **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 2024
Additions
Disposals
At 31 December 2024
**Depreciation**
At 1 January 2024
Charge for the year
Disposals
At 31 December 2024
**Net Book Value**
At 31 December 2024
At 31 December 2023
**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**|**2024**
**2023**
**£**
**£**
8,556
11,182|
|||8,556
11,182|
|||**2024**
**2023**
**£**
**£**
500
500
-
-|
|||500
500|
Page 7
**4**
**2023** Total £
77,559 15,774 **93,333**
13,587
80,850 **94,437** (1,104)
(1,104) - 9,732 **(10,836)**
-1324