2023-01-31-accounts - Celestial Church Of Christ Ileri-Oluwa Parish Manchester

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Registered Charity No - 1137289

CELESTIAL CHURCH OF CHRIST ILERI-OLUWA PARISH MANCHESTER

Trustees’ Report and Accounts for the year ending 31 January 2023

CONTENTS	PAGE
Legal and Administrative Details	2
Trustees' Report	3
Independent Examiners’ Report	6
Statement of Financial Activities	7
Balance Sheet	8
Notes to the Accounts	9

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REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 JANUARY 2023

Adewunmi Adesanya 2. Clement Olufemi Komolafe

Trustees 1. Adewunmi Adesanya 2. Clement Olufemi Komolafe 3. Kafilat Aramide Avoola Charity registered Number 1137289 Date of charitable registration 5[th] August 2010 Principal office Kershaw Lane Audenshaw Manchester Lancashire M34 5PN Secretary Independent examiners Accounting Assist LtdLtd C/O Good to Give Ltd Bankers HSBC Bank PLC

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TRUSTEES' REPORT

FOR THE YEAR ENDED 31 JANUARY 2023

The Board of Trustees, who are the trustees for charity law purposes, submit their annual report and the financial statements of Celestial Church of Christ Ileri-Oluwa Parish Manchester for the year ended 31 January 2023. The Board of Trustees confirm that the annual report and financial statements of the Charity comply with current statutory requirements, the requirements of the Charity's governing document and the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities (revised 2005)'.

Structure, governance and management

The 3 Trustees are:

Adewunmi Adesanya
Clement Olufemi Komolafe
Kafilat Aramide Avoola

The Trustees play a primary role in ensuring good governance and functioning of the charity. The Board’s role, functions and responsibilities are quite clearly defined.

The Charity currently has a strong team of Advisory Board members in the UK who have helped to secure financial support and contribute to the future planning of the organisation.

Governing document:

The Charity governing document is a declaration of the trust that was executed on 1[st] December 2002 as amended by supplemental deed on 5[th] August 2010. The Charity is governed by a board on which the trustees are represented. It meets regularly to review, plan activities and monitor the financial position.

Recruitment and appointment of trustees:

The members of the General Trustee Board are trustees for the purposes of charity law. New trustees may be appointed by resolution of a meeting of the trustees.

The Board of Trustees seeks to ensure that the needs of this group are appropriately reflected through the diversity of the trustee body. The charity sought to identify those who would be willing to become trustees of the charity and use their own experience to assist the charity.

Reserve Policy

It is the policy of the Charity to maintain unrestricted funds, which are the reserves of the charity at about 3 months of unrestricted expenditure. This provides sufficient funds to cover any emergency expenditures that may arise from time to time. The charity will seek to maintain this level throughout the year.

Risk Management

The charity has assessed all the major risks to which the charity is exposed to, in particular those related to operations and finances of the charity, and are satisfied that systems are in place to mitigate exposure to major risks.

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TRUSTEES' REPORT

FOR THE YEAR ENDED 31 JANUARY 2023

Public Benefit:

The Trustees have complied with the duty in Section 4 of the Charities Act 2006 and have paid due regard to public benefit when preparing this report. The benefit provided to the public is consistent with the aims of the charity in UK.

Objectives and activities:

The Objects of the organisation are first to advance the Christian faith in accordance with the statement of beliefs for the benefit in the United Kingdom and in such other parts of the world as the trustees may think fit from time to time. The trustees confirm that they have had due regard to the guidance issued by the Charity Commission on public benefit before deciding what activities the charity should undertake.

Achievements and performance:

The Organisation continues to hold successful services through the year in which individuals were equipped and educated on the principles and doctrines of the Christian faith. The organisation continues to hold its outreaches and conferences. This year during its harvest conference held over seven days it covered the accommodation costs, travel costs and meals for all attendees that attended. This proved to be a good success again. The organisation also supported a number of branch parishes with resources during the year.

Plans for Future Developments:

The church intends to continue to host its regular yearly conferences in UK They plan to move into their own purchased premises within the next year. The intended re- appointment of our present independent examiner at the upcoming trustee meeting is expected to support the financial operations by making it more effective.

Financial review:

The income of the charity is £743,949 (2022: £578,757). The organisation is still in a good position to manage its costs. The main cost of the organisation was paying for the mortgage on the building that it uses for worship services and covering transportation costs for its special events. The church continues to use its savings scheme with Kingdom bank to build up its savings.

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TRUSTEES' REPORT

FOR THE YEAR ENDED 31 JANUARY 2023

Statement of Board of Trustees’ responsibilities:

The Board of Trustees are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice.

Charity law applicable to charities in England/Wales requires the Board of Trustees to prepare financial statements for each financial year which gives 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 preparing those financial statements the Board of Trustees have:

Selected suitable accounting policies and applied them consistently,
Made judgments and estimates that are reasonable and prudent,
Stated whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
Prepared the financial statements on a going concern basis (unless it is inappropriate to presume that the Charity will continue in operation).

The Board of Trustees has overall responsibility for ensuring that the Charity has an appropriate system of controls, financial and otherwise. They are also responsible for keeping proper accounting records.

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 1993. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the detection and prevention of fraud and other irregularities.

The Board of Trustees is responsible for the maintenance and integrity of the corporate and financial information. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Statement of disclosure of information to independent examiner

We, as the Trustees of the Charity who held office at the date of approval of these financial statements as set out on page 2 each confirm, so far as we are aware, that:

There is no relevant information of which the Charity's independent examiner are unaware; and we have
taken all the steps that we ought to have taken as Trustees in order to make ourselves aware of any relevant information and to establish that the charity's independent examiner is aware of that information.

Independent Examiner:

The Charity's independent examiner, Accounting Assist LtdLtd C/o Good to Give Ltd, has indicated their willingness to offer themselves for appointment.

This report was approved by the Trustees on and signed on their behalf by:

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INDEPENDENT EXAMINER’S REPORT FOR THE YEAR ENDED 31 JANUARY 2023

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CELSTIAL CHURCH OF CHRIST ILERIOLUWA PARISH MANCHESTER

I report on the financial statements of the charity for the year ended 31 January 2023 which comprise the Statement of Financial Activities and Balance Sheet with associate notes.

This report is made solely to the charity's Trustees, as a body, in accordance with section 145 of the Charities Act 2011 and regulations made under section 154 of that Act. 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 examination work.

Respective Responsibilities of Trustees and Examiner

The charity's Trustees are responsible for the preparation of the financial statements, and they consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the Act) and that an independent examination is needed.

It is my responsibility to:

Examine the accounts (under Section 145 of the Charities Act);
To follow the procedures laid down in the General Directions given by the Charity Commissioners (under Section 145(5)(b) of the Charities Act); and
To state whether particular 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 Group/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 Act; and
to prepare financial statements which accord with the accounting records and comply with the accounting requirements of the Act

have not been met; or

2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached.

Signed:

Anum Hassan, FCCA On behalf of Accounting Assist Ltd

Dated: 21/11/2023

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STATEMENT OF FINANCIAL ACTIVITIES

(Incorporating income and expenditure account) FOR THE YEAR ENDED 31 JANUARY 2023

----- Start of picture text -----
Unrestricted Restricted Total Funds Total Funds
2023 2023 2023 2022
Notes £ £ £ £
Incoming resources 2
General offerings 488,009
604,805 - 604,805
Gift Aid (Net) 90,744
124,946 - 124,946
Other Income 4
14,198 - 14,198
Total Incoming resources - 578,757
743,949 743,949
Resources expended
Direct charitable expenditure 552,182
707,119 - 707,119
Governance costs 960
3,300 - 3,300
Total Resources expended 3 - 553,142
710,419 710,419
Movement in total fund for the
year- Net income / - 25,615
33,529 33,529
(expenditure) For the year
Fund balance brought forward 331,569
357,184 - 357,184
Fund balance carried forward - 357,184
390,713 390,713
----- End of picture text -----

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BALANCE SHEET

2023 2023 £ 16,547 59,341	2023 £ 471,518 72,588	2022 £ 6,736 45,366	2022 £ 469,095 52,103
75,888 (3,300) 390,713 - -		52,103 - 357,184 - -

	544,107		521,198
	(153,394)		(164,014)
	390,713		357,184
	390,713		357,184

The financial statements were approved by the Trustees and signed on their behalf, by:

The notes on pages 9 – 11 form part of these financial statements

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NOTES TO THE FINANCIAL STATEMENT FOR THE YEAR ENDED 31 JANUARY 2023

1. ACCOUNTING POLICIES

1.1 Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008). The financial statements have been prepared in accordance with the Statement of Recommended Practice (SORP), 'Accounting and Reporting by Charities' published in December 2005 and applicable accounting standards.

1.2 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.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

1.3 Incoming resources

All incoming resources are included in the Statement of financial activities when the charity has entitlement to the funds, certainty of receipt and the amount can be measured with sufficient reliability.

Donated services or facilities, which comprise donated services, are included in income at a valuation which is an estimate of the financial cost borne by the donor where such a cost is quantifiable and measurable. No income is recognised where there is no financial cost borne by a third party.

Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

1.4 Resources expended

Expenditure is accounted for on an accruals basis and has been included under expense categories that aggregate all costs for allocation to activities. Where costs cannot be directly attributed to particular activities, they have been allocated on a basis consistent with the use of the resources.

Fundraising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities. Support costs are those costs incurred directly in support of expenditure on the objects of the charity and include project management carried out at Headquarters. Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.

Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the yearend are noted as a commitment, but not accrued as expenditure.

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NOTES TO THE FINANCIAL STATEMENT FOR THE YEAR ENDED 31 JANUARY 2023

1.5 Tangible Fixed Asset

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Building Nil Plant and Machinery 20% on reducing balance Computer equipment 20% on reducing balance

1.6 Related Party Transactions

There were no payments to trustees or connected persons during the year nor in previous years.

2. VOLUNTARY INCOME

Donations from individuals Gift Aid (Net) Other Income Total Income	2023 £ 604,805 124,946 14,198 743,949	2022 £ 488,009 90,744 4 578,757

3. TRUSTEE EXPENSES

There were no Trustee expenses paid during 2023 and 2022.

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NOTES TO THE FINANCIAL STATEMENT FOR THE YEAR ENDED 31 JANUARY 2023

4. TANGEBLE FIXED ASSET

COST At 31 January 2022 Additions At 31 January 2023 DEPRECIATION At 31 January 2022 Charge for the year At 31 January 2023 NET BOOK VALUE At 31 January 2023 At 31 January 2022	Church Bus Fixtures & Fittings Equipment Total Building £ £ £ £ £ 461,441 6,850 2,601 17,681 488,573 4,943 4,943
	461,441 6,850 2,601 22,624 493,516 - 3,562 2,072 13,843 19,478 - 658 106 1,756 2,520
	- 4,220 2,178 15,599 21,998 461,441 2,630 423 7,025 471,518
	461,441 3,288 529 3,838 469,095

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5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Accruals Total	2023 3,300 3,300	2022 - -

6. CREDITORS: AMOUNTS FALLING DUE AFTER ONE YEAR

Mortgage HSBC Bounce Back Loan Church loan Total	2023 125,404 27,990 - 153,394	2022 129,488 34,526 - 164,014

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