Registered Charity No- 1137289 CELESTIAL CHURCH OF CHRIST ILERI-OLUWA PARISH MANCHESTER Trustees, Report and Accounts for the year ending 31 January 2025 CONTENTS PAGE Legal and Administrative Details Trustees, Report Independent Examiner's Report Statement of Financial Activities Balance Sheet Notes to the Accounts REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 JANUARY 2025 Trustees Adewunmi Olasunkanmi Adesanya (Chair) Solomon Adedeji Adesanya Samuel Adegoke Adesanya Charity registered Number l li7289 Date of charitable registration 5" August 2010 Principal offiee Celestial Church Ileri Oluwa Parish Stand Lane Radcliffe Manchester Lancashire M?6 IJE Independent examiners Accounting Assist Ltd CIO Good to Give Ltd 7 Bell Yard, London, WC2A 2JR Bankers HSBC Bank PLC 24 St Ann's Square Manchester M2 7HD TRUSTEES, REPORT FOR THE YEAR EIYDED 31 JAIYUARY 2025 The Board of Trustees, who ar¢ the trust¢¢s for charity law purposes. submit their annual report and the financial siatements of Celestial Church of Christ Ileri-oluwa Parish Manchester for ihe >'ear ended J l Januarv 202). The Board olTrustees confinn that the annual report and financial statements of the Charity comply with current statutor). requirements: the requirements of the Charity's governing document and the provisions of the Charilies SORP (FRS I O?). Structure? governance and management The 3 Trustees are: Adewunmi Olasunkanmi Adesanya (Chair) Solomon Adedeji Adesan>'a Samuel Adegoke Adesanya 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 documenl: The Charity governing document is a declaration of the trust that was executed on l December 2002 as amended by supplemental deed on J July 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 maj. be appointed by resolution of a meeting of the tnLStees. The Board of Trustees seeks to ensure that the needs of this group are appropriately reflected through the diversity of the truslee bodv. The charity sought to identify. Ihos¢ who would be willing to become trustees of the charity and use their own experience to a5SISt the charity. Reserve Policy It is the polic). of the Charity to maintain unrestricted funds: which are the reserves of the charity at about i months of unrestricted expenditure. This provides sufficient funds to cover an), emergency expenditures that may arise from lime lo lime. The charity will seek to mainiain 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 olthe charity.. and are satisfied that systems are in place to mitigate exposure to major risks TRUSTEES. REPORT FOR THE YEAR EIYDED 31 JAIYUARY 2025 Public Benefit: The Trustees have cotnplied with the duts, in Section 4 olthe Charities Act 2006 and have paid due regard to public benefit when preparing this repxirt. The benefit provided to the public is consistent with the aims of the charitv 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 th¢ benefit in the Uniled Kingdom and in such other parts of the world as the trustees may think fit from time to lime. The truslees confinn thal 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 continue5 to hold successful services through the year in which individuals were eqUIp￿d 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 continu¢ 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 £806,945 (2024: £868,202). The organisation is still in a good position to manage its cos￿. The main cost of the organisation was pa).'ing 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. Statement of Board of Trustees, responsibilities: The Board of Trustees are responsible for preparing the Annual Re￿rt and the financial statements in accordanc¢ with applicable law and United Kingdom Generally Accepted Accounling Practice. Charity law applicable to charities in Englandlwales 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 IIII'%II F'%. RF ff)R I l-()R 1111. ) I- IR I %IIF-IJ .11 ,I,i% I IAH}- 2(J24 thc I"h)nli" ?nif nf117C ¢iITpliig i)T Jcficil of Ilic ('11.irily for thal ￿TI(￿l. In prcpirini ihn8e fininclal *laTenienl% Ihc Illllrd of I nislccs liaie.. SCliMt￿ &iiil4iblc aiftiiinling TX)licics and Iipplicd Ihcm c(Insislcnily. la(Ic jiiilFmcnis an(1 cstimates Ihal Jre icawnable and prudcni. S1.11￿ M"hcihcr appliciblc accoiinling iiindird% hai'c bccn fDllowcd. subjecl lo any malcrial dcp4irturc< disclo￿d and explaincd in Ihc fI￿nCIal $lalemenLs. Prcp.1rcd Ihc financial stalcmcnls on a going conccrn basis {unlcss it is inappropriale lo prcsume Ihal thc Chariiy Mill Continuc in orKr3lion). Thc Board of Trustees has oi'crall respo￿sIbIlIt>, for ensuring ihat the Chjrity ha% an appropriaie s!Ttcm of controls. financial and oihcrw'isc. Thcy arc Jlso rcsponsiblc for kccping propcr accounting rccords diselosc Miih reasonable accuracy 21 any limc thc financial p05iiion of the Charity and enable them lo cnsure thal the financial siaiemenis comply Thith ihe Charilics Act 2011. Th¢y are also resrthsible for safcpuarding ihe assets of the Ch2ri15' 2nd herKe for tskinR reasonable Steps for ihe dercciion and prei'enlion of fra￿ and other irregularities. The Board of Iru5tecs is rcsryjnstble for the maintenance and inlegrity of the corFrt)rate and finarKial infomtion. Legislation in the Uniicd Kingthym govcrning the prewdtion and di&scminalion ol financial stslements may differ from legislalion in other jwisdictions. Sixtctnent ofd15c105ure ofiDfDrmadon to Independent examjner We. as the Tn￿ee$ of the Charity who hem office * the date of of these financial st31ements as set out on p3ge 2 each conf￿￿ so far as w¢ are awar< that: There is no rele1￿1 inforndti¢m ofwhich the Clthrity's indqKndeni exattiitier are wth*2re: and H'e hal'e taken all the steps that OU8ht lo have taken z¢ TnLgteeÈ in orderto make ourselves awgre of any rel¢Trant infornmtion and to establish that the cFkvAty's itidepeftdent t￿￿MIner is awar¢ of thai itifornution. Independent Examlner. The Charity s independent examiner. Anum Hassan. FCCA of Accounting Assist Ltd Clo Good to Gil'e Lt& have indicated their willingness to offer themselves for aFviintment. This report was 2PPToved by the Tn￿leeS on SI￿ on their behalf by: .%ame I[b¢￿).LI￿ffj.I ok1￿U￿￿￿19II +L￿A￿tyA Slgn*lure.. D•tt 2L].i.1.lg￿.aS 51PaEe ILYDEPEIYDENT EXAMIIYER'S REPORT FOR THE YEAR ENDED 31 JANUARY 2025 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CELESTIAL CHURCH OF CHRIST ILERI-OLIIWA PARISH IIAYCHESTER I rcport on thc financial statcmcnts of thc charitr" for thc I-car cndcd 31 JanuaTr 2025 ￿hICh comprisc thc Statement of Financial AciiN ities and Balance Sheei ii'ith accompanl'ing notes. This report is made solelTr' ￿ the charin s Trustees: as a EK)d!". in accordance ii.ith section 145 of the Charities Act 201 l and rcgulations madc undcr scction l i4 ot-that Act. MN. i*ork has bccn undcrtskcn so that I mi£ht statc to the charitv's Trustees ihose matters l am required ￿ state kn Ihem in an independent examinevs rep)rt and for nu othcr purposc. To thc fullcst cxtcnt pcrtnittcd bi" laii": I do not acccpt or assumc rcsponsibilitv to anvonc othcr than the charity. and the charity s Trustres as a ix>dTr'. for m). examination M"ork. Respective Responsibilities of Trustees and Examiner The charity's Trustees are responsible for the preparation of the financial statements, and the>. consider that an audit is not required for this vear under section 14412} of the Charities Act 2011 (the Act) and that an independeni e.xamination is needed. It is my responsibility io: Examinc thc accounts lundcr Scction 145 of thc Charitic5 Act)= To follom" thc proccdurcs laid doMT] in thc Gcncral Dircctions gii-cn b￿ thc Charity Commissioncrs (under Section 14i{il(bl olihe Charilies Aci):. and To state il'heiher panicular matters ha￿'e come to MN. attention. Basis of Independent Examiner's report My examination Th'as carried out in accordance ii'ith the General Directions gii'en bN' the Charitv Commissioners. An examination includes a rei"ieis' ol'the accouniino records kept bi, the CJroup/Charitv and a comparison of the accounls presented M'ith those records. li also includes consideration of any unusual items or disclosurcs in thc aLcounts and sccking ciplanations from l.ou as tru5tCC5 conccrning an! such mattcrs. Thc procedures undertaken do not proi'ide all the ei'idence thai ii'ould be required in an audit: and consequently no opinion is giN'en as 10 ￿'hether the accounts present a -true and fair, i'ieii- and the rewrt is limited to those matters set out in ihe statemeni beloth.. Independenl Examiller's statement In connection w'ith my e.xaminalion, no mailer has come ￿ mi, aLieniion= l) Ivhich giTr'es me reasonable cause ￿ beliei"e ihai in any malerial respeci the requiremenls: to keep accouniing records in accordance ii'iih section 130 of the Aci. and to prepare financial statements ii'hich accord ivith the accounting records and complv iN'ith the accounting requirements of the Act ha￿'e not been mel; or 2) to Thhich, in my opinion, aiienLion should be dra￿"n in order ￿ enable a proper understanding ofthe tinancial statemenis to be reached. Signed= Dated. 2111112025 Anum Hassan. TrCCA On belialt" ot"Accounting Assist Ltd STATEMENT OF FINANCIAL ACTIVITIES (Incorporating income and expenditure account) FOR THE YEAR ENDED 31 JANUARY 2025 l-Drestricted Restricted Total Tr-unds Total Funds 2025 2025 21125 2024 Notcs IncotThing resource5 Genera] offerings 609.964 29,500 639,464 718,470 Gift Aid (Net) 167,ii7 167,ii7 149,477 Other Income 145 145 255 I'otal Incoming resources 777.416 806.946 868.202 Resources eipended Dircci charitablc Cxpcnditurc 669,Wl 36,795 706,786 688,838 GoTreTnance costs i.000 6,371 Total Resources eApeDded 672,991 36,795 709,786 695209 Moi'cm¢nt In total fvnd for th¢ i'¢ar- N¢t incomc I lexpenditurel Tr'or the l'ear 104.4SS 17.29$) 97,160 172,993 Fund balance broughi foni'ard 541.616 22.06D -563.706 390,713 Fund balanc¢ carricd forN'ard 646.101 660J66 Ali Al. JI JANI.-ARI' 2025 11125 11124 2n24 Note T&igiblc )Thr -1261 ET CiryiRE%T ASSETS 8J91 Ji.#JJ TOTAL ASSETS LESS CURREfr*T LIABILITIES 774,449 700J90 CRKDITORS: AmouDi f￿11￿8 due more th one year 113583 -130.685 TOTAL ASSETS 563.706 CIL4RTfY FL.YDS LTnrt5tricipJ funds (A6.101 14.765 563.706 ReJtri¢f¢d fun& TOTAL FLIDS 660.866 The financial 51alcmcnts wcre approvcd by Ihe T￿￿te¢S and SIg￿d on their behalf, by: ri*me c￿5..￿j￿(l Okii£•i &kn-M9Y/I Sl2nature. D¥le. The nO￿S on page5 9- 12 fo￿ rAn ofihese finanrial 51ulrmcnl5 81Page NOTES TO THE FINAIYCIAL STATEMEIYT FOR THE YEAR ENDED 31 JANUARY 2025 I. ACCOUNTING POLICIES Basis of preparation of financial statements The financial statements have been prepared under the historical cost convention and in accordance with the Charitie5 SORP (FRS 102). the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102}, and the Charities Act 2011. 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 ihe charit). and which have noi been designated for other purp05e5. Restricted funds ar¢ funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised bv 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. 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. Resources expended Expenditure is accounted for on an accruals basis and has been included under ¢xpens¢ categories that aggregate all costs for allocation to activities. Where costs cannot be directly attributed to particular activities: they have been allocated on a basi5 consistent with the use of the resources. Fundraising costs are those incurred in seeking voluntar! contribution5 and do not include the costs of disseminating inforniation in support of the charitable activities. Support costs are those costs incurred directl). in support of expenditure on the objects of the charity and include project management carried out at Headquarters. Governance costs are those incurred. NOTES TO THE FINAIYCIAL STATEMEIYT FOR THE YEAR ENDED 31 JANUARY 2025 (Conlinued) in connection with administration olthe charity and compliance with constitutional and Statutory requirements. Grants payabl¢ ar¢ charg¢d in the year when the offer is made except in those cases where the offer is conditional: such grants being recognised as eX￿nditllre when the conditions attaching are fulfilled. Grants offered subject to conditions M,hich have not been met at the yearend are noted as a commitment, but not accrued as expenditure. Tangible Fixed Asset Depreliaiion is proN'ided at the fol10￿.1ng annual rates in order Io Mrite otTeach asset 0￿er ils eslimaled useful life. Building Nil Plant and Machinerv 20Yo on reducing balance Computer equipmeni 20Yo on reducing balance Related Party Transactions Payments to trustees and connected persons are disclosed in the 'Trust¢e Ex￿nSeS, note. 2. VOLUNTARY INCOME 2025 2024 Donations from indii-iduals 599.764 696.410 Gifi Aid (Net) 167.JJ7 196.680 AIE Claims Trust 8.660 Building Funds CAC Donations 29.i(X) 13.400 10.2(M) Other Income 145 255 Total Incotlle 806,946 915,405 101 Page NOTES TO THE FINAIYCIAL STATEMEIYT FOR THE YEAR ENDED 31 JANUARY 2025 (Conlinued) 3. TRUSTEE EXPENSES There wa5 a total 01£14,515 (2024: £24,6J3) trustee expenses and £17,5￿ {2024: £28,002) trustee salary paid during the year ended i I" January 2025. 4. TANGIBLE FIXED ASSET Building Church Bus Fixtures & Fittings Equipmellt Total COST At 31 January 2024 i61,08i 8),651 646,736 14.690 31.710 85,086 31.536 692,i71 18.496 Additions .308 At 31 January 2025 14,690 33,018 116,622 811,067 DEPRECIATION At 31 Januarn. 2024 4.746 17.004 24,014 21,495 45509 Charge for the year At 31 January 2025 1.989 i.890 6,735 8,153 30,620 NET BOOK VALUE At 31 January 2025 At 31 Januarv 2024 646,736 561,08) 7,955 9.944 24865 29,448 86,1)02 68,082 7655$8 668,i58 5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 2024 Accruals -264 Total 1,264 NOTES TO THE FINAIYCIAL STATEMEIYT FOR THE YEAR ENDED 31 JANUARY 2025 (Conlinued) 6. CREDITORS: AMOUNTS FALLING DUE AFfER ONE YEAR 2025 2024 Mortgage HSBC Bounce Back Loan 95,376 18.207 110,651 26.033 Total 113583 136.685