2024-11-30-accounts - Kingdom Life Apostolic Chapel

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Charity Registration no

1139371

Kingdom Life Apostolic Chapel

Annual Accounts

1 Dec 2023 - 30 Nov 2024

Prepared by DTT Consultancy Ltd

Kingdom Life Apostolic Chapel

Administrative Information

Financial Statement for the year ended 30 November 2024

Registered Charity Number:	1139371
Minister In Charge	REV PAUL AKINPELU
Board of Trustees	Mr. Johnson Adebayo
	Dr Emmanuel Sunday Olawale
	Mr. Olanipekun Omotoso - Chair
	Dr Lumun Nuhu Yatu
	Pastor Sakirat Onakoya
Registered Office:	Kingdom Life Apostolic Chapel
	Church Square
	Birmingham Street
	Oldbury
	B69 4DY
Independent Examiner:	Tunji Ogedengbe
	36 Daffodil Close
	Hatfield
	Herts
	AL10 9FF

Kingdom Life Apostolic Chapel

TRUSTEES' REPORTS FOR THE YEAR ENDED 30 NOVEMBER 2024

The Trustees present their annual report together with the financial statements of Kingdom Life Apostolic Chapel (the charity) for the ended 30 November 2024.

The trustees confirm that the annual report and financial statements of the charity comply with the 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" issued in March 2005.

STRUCTURE, GOVERNANCE AND MANAGEMENT

a. CONSTITUTION

The church is constituted under a TRUST DEED DATED 23 AUGUST 2010

b. METHOD OF APPOINTMENT OR ELECTION OF TRUSTEES

The management of the charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.

c. POLICIES ADOPTED FOR THE INDUCTION AND TRAINING OF TRUSTEES

The induction process for any newly appointed member of the Trustees comprises an initial meeting with the Chair and other Trustees, followed by a series of short meetings with the Minister in Charge on the powers and responsibilities of the Trustees.

d. ORGANISATIONAL STRUCTURE AND DECISION MAKING

The church is organised so that the trustees meet regularly to manage its affairs. The day to day administration of the church is managed by a volunteer.

e. RISK MANAGEMENT

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

f. GRANT MAKING POLICY

The church supports visiting ministers of the gospel both within and outside the United Kingdom. Support is also given to Missions worldwide

The church supports other charities and missionary that shares its objects in advancement of Christian faith and relief of poverty. The church gives occasional grants to congregational members who are in need.

Page 1

Kingdom Life Apostolic Chapel

TRUSTEES' REPORTS (continued) FOR THE YEAR ENDED 30 NOVEMBER 2024

OBJECTIVES AND ACTIVITIES

a. POLICIES AND OBJECTIVES

The objectives of the church are:

A) TO ADVANCE THE CHRISTIAN RELIGION FOR THE BENEFIT OF THE PUBLIC.

B) TO RELIEVE SICKNESS AND FINANCIAL HARDSHIP AND TO PROMOTE AND PRESERVE GOOD HEALTH BY THE PROVISION OF FUNDS, GOODS OR SERVICES OF ANY KIND AS THE TRUSTEES FROM TIME TO TIME MAY THINK FIT.

Each year our trustees review our objectives and activities to ensure they continue to reflect our aims.

In carrying out this review the trustees have considered the Charity Commission’s general guidance on public benefit and in particular its supplementary public guidance on the advancement of religion for the public benefit.

b. STRATEGIES FOR ACHIEVING OBJECTIVES

The church has adopted the following strategies for achieving the above objectives:

organisation of seminars and events to address issues of relevance to the relief of poverty and provision of care and support for the needy as appropriate;
planting of churches; and
support for other charities and events with similar objectives.

c. ACTIVITIES FOR ACHIEVING OBJECTIVES

The main activities of the church are as follows:

Sunday service
Sunday school for all ages of children
Weekly Bible Studies

d. VOLUNTEERS

The church is grateful for the unstinting efforts of its volunteers who are involved in service provision, office work and administration.

Page 2

Kingdom Life Apostolic Chapel

TRUSTEES' REPORTS (continued) FOR THE YEAR ENDED 30 NOVEMBER 2024

ACHIEVEMENTS AND PERFORMANCE

a. REVIEW OF ACTIVITIES

We have had tremendos growth in physical and spritual life of the church during the year and in the advancement of Christian Faith in accordance with the doctrines set out in the Statement of Faith as contained in our Trust Deed.

The church undertook the following activities:

Christmas Elderly Visit

Various programs were organized for the elderly in the community during the year. Such as warm space to cushion the effects of cost of living crisis. Also warm brunch was provided

Community Children Christmas programme and Father Christmas show

Children program such as sport, music lessons were organised during the year.

Barbeque and Sports day

Barbecue and sports day hosted for the community.

Concert

Musical Concert held for the community occasionally during the year.

Evangelisnm outreach

To inspire and teach the good news to the community.

All our activities were open to the general public as well as church members.

b. INVESTMENT POLICY AND PERFORMANCE

The trustees have decided that at present, funds should be retained in bank. Any change in such banking arrangements should be agreed by the board. As far as possible, funds will be retained in interest bearing accounts.

Page 3

Kingdom Life Apostolic Chapel

TRUSTEES' REPORTS (continued) FOR THE YEAR ENDED 30 NOVEMBER 2024

FINANCIAL REVIEW

a. RESERVES POLICY

Members of the church have been generous this year. However there was a fall in the church collection and our expenditure for the year. The statement of the financial activities shows a gain of £21,393 and net asset stand at £195,217.

The Trustees have established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets ('the free reserves') held by the church should be 3 months of annual expenditure. At this level, the trustees feel that they would be able to continue the current activities of the church in the event of a significant drop in funding.

b. PRINCIPAL FUNDING

This is provided mainly through voluntary tithes and offerings by the church members.

ACKNOWLEDGEMENT

As we reflect on the past year, we are filled with immense gratitude for the unwavering support and dedication of our esteemed members, funders and trustees. Your commitment to our mission has been the cornerstone of our success, enabling us to continue our vital work and make a meaningful difference in the lives of those we serve.

ACKNOWLEDGMENT

National Grid - Community Matters Fund
Magic Little- Community Matters Fund
The Eveson Trust

On behalf of everyone at Kingdom Life Apostolic Chapel, we extend our deepest gratitude to each and every one of you. Your belief in our mission, your generosity, and your unwavering support have been the driving force behind our accomplishments. Together, we have made remarkable strides towards building a better, more equitable world for all.

As we embark on the journey ahead, we take comfort in knowing that we have such dedicated and passionate allies standing by our side. With your continued support, we are confident that we will continue to create lasting change and make a positive impact on the lives of countless individuals and communities.

Thank you for your generosity, your trust, and your unwavering commitment to our cause. We are deeply grateful for your partnership and look forward to continuing this journey together.

With heartfelt appreciation, Bishop Paul Akinpelu Senior Pastor Kingdom Life Apostolic Chapel

Page 4

Kingdom Life Apostolic Chapel

TRUSTEES' REPORTS (continued) FOR THE YEAR ENDED 30 NOVEMBER 2024

PLANS FOR THE FUTURE

a. FUTURE DEVELOPMENTS

We are praying that we will be in a position to lease a premises in the near future.

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & Wales 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 incoming resources and application of resources of the charity for that period. In preparing these financial statements, the Trustees are required to:

select suitable accounting policies and then apply them consistently;
observe the methods and principles in the Charities SORP;
make judgments and estimates that are reasonable and prudent;
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and
explained in the financial statements;
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 that 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 2011. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report was approved by the Trustees on 5th February 2025 and signed on their behalf, by:

…………………………………………………..

Mr. Olanipekun Omotoso - Chair

Page 5

Kingdom Life Apostolic Chapel REGISTERED CHARITY NUMBER: 1139371 For the year ended 30 November 2024

I report on the accounts for the year ended 30th November 2024 set out on pages four to nine. Respective responsibilities of trustees and examiner

The charity's trustees (who are also the directors for the purposes of company law) are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year (under Section 43(2) of the Charities Act 1993 (the 1993 Act)) and that an independent examination is required. The charity's gross income did not exceed £250,000 and I am qualified to undertake the examination.

Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:

examine the accounts under Section 43 of the 1993 Act
to follow the procedures laid down in the General Directions given by the Charity Commission (under Section 43(7)(b) of the 1993 Act); and
to state whether particular matters have come to my attention.

Basis of the independent examiner's report

My examination was carried out in accordance with the General Directions given by the Charity Commission. 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 statements 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 386 and 387 of the Companies Act 2006; and
to prepare accounts which accord with the accounting records, comply with the accounting requirements of Sections 394 and 395 of the Companies Act 2006 and with the methods and principles of the

Statement of Recommended Practice: Accounting and Reporting by Charities

have not been met; or

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

Tunji Ogedengbe 36 Daffodil Close Hatfield Herts AL10 9FF

Date: 5th February 2025

Page 6

KLAC	Kingdom Life Apostolic Chapel	Kingdom Life Apostolic Chapel	Kingdom Life Apostolic Chapel		1139371
	Annualaccountsforthe period
	Period start date	1st Dec 23	To	Period end date	30th Nov 24

Section A	Statement of financial activities
Recommended categories by activity Details of own analysis Note Incoming resources (Note 3) Incoming resources from generated funds Voluntary income S01 Activities for generating funds S02 Grants S03 Incoming resources from charitable activities S04 Other incoming resources S05 S06 Resources expended (Notes 4-8) Costs of Generating Funds Costs of generating voluntary income S07 Fundraising trading costs S08 Investment management costs S09 Charitable activities S10 Governance costs S11 Grant Expenditure S12 S13 S14 S15 S16 S17 S18 S19 S20 S21 *Total funds carried forward* Total funds brought forward *Net movement in funds* *Net incoming/(outgoing) resources before* *transfers* Prior Year Adjustment Gains and losses on revaluation of fixed assets for the charity’s own use Other recognised gains/(losses) *Net incoming/(outgoing) resources before* *other recognised gains/(losses)* Gross transfers between funds *Total resources expended* *Total incoming resources*		Unrestricted funds Restricted income funds Endowment funds Total this year Total last year £ £ £ £ £ F01 F02 F03 F04 F05
		-	-	-	-	-
		161,879	-	-	161,879	158,261
		-	-	-	-	-
		29,550	-	-	29,550	14,376
		-	-	-	-	-
		-	-	-	-	-
		191,429	-	-	191,429	172,637

		-	-	-	-	-
		44,181	-	-	44,181	54,086
		-	-	-	-	-
			-	-	-	-
		116,409	-	-	116,409	104,956
		450	-	-	450	350
		8,996	-	-	8,996	11,000
		170,036	-	-	170,036	170,392
		21,393	-	-	21,393	2,245
		-	-	-	-	-
		21,393	-	-	21,393	2,245

		-	-	-	-	-
			-	-	-	-
		21,393	-	-	21,393	2,245
		173,824	-	-	173,824	171,580
		195,217	-	-	195,217	173,824

Page 7

Section B Balance sheet AS AT 30 NOVEMBER 2024

Unrestricted funds Restricted income funds Endowment funds Total this year Total last year £ £ £ £ £ F01 F02 F03 F04 F05	Unrestricted funds Restricted income funds Endowment funds Total this year Total last year £ £ £ £ £ F01 F02 F03 F04 F05	Unrestricted funds Restricted income funds Endowment funds Total this year Total last year £ £ £ £ £ F01 F02 F03 F04 F05	Unrestricted funds Restricted income funds Endowment funds Total this year Total last year £ £ £ £ £ F01 F02 F03 F04 F05	Unrestricted funds Restricted income funds Endowment funds Total this year Total last year £ £ £ £ £ F01 F02 F03 F04 F05
280,276	-	-	280,276	284,276
-	-	-	-	-
-	-	-	-	-
280,276	-	-	280,276	284,276

-	-	-	-	-
4,000	-	-	4,000	-
	-	-	-	-
20,434	-	-	20,434	6,737
24,434	-	-	24,434	6,737

400	-	-	400	350

24,034	-	-	24,034	6,387

304,310	-	-	304,310	290,664

109,093	-	-	109,093	116,840
-	-	-	-	-

195,217	-	-	195,217	173,824

195,217			195,217	173,824
			-	-
	-		-	-
		-	-	-

195,217	-	-	195,217	173,824

Date of approval Print Name Signature
		Mr.OlanipekunOmotoso-Chair		05/02/2025

Page 8

Section C Notes to the accounts

Note 1 Basis of preparation

This section should be completed by all charities .

1.1 Basis of accounting

These accounts have been prepared on the basis of historic cost (except that investments are shown at market value) in accordance with:

Accounting and Reporting by Charities – Statement of Recommended Practice (SORP 2005);

• and with*  Accounting Standards;

or Financial Reporting Standards for Smaller Enterprises (FRSSE);

and with the Charities Act 1993.

[** except for the following].

Give details in this box if a different standard has been followed.

-Tick as appropriate:
if all relevant disclosures shown in the pack have been given then please tick “Accounting Standards”;
if disclosures completed in these accounts have been restricted to those required by the FRSSE, then please tick
“Financial Reporting Standards for Smaller Enterprises (FRSSE)”.

** - If no departures from the chosen standards have been made then delete these words; otherwise give details of any changes in the boxes.

Page 9

Section C Notes to the accounts (cont)

Note 2 Accounting policies

This standard list of accounting policies has been applied by the charity except for those deleted. Where a different or additional policy has been adopted then this is detailed in the box below.

INCOMING RESOURCES

Recognition of incoming	These are included in the Statement of Financial Activities (SoFA) when:
resources	 the charity becomes entitled to the resources;
	 the trustees are virtually certain they will receive the resources; and
	 the monetary value can be measured with sufficient reliability.
Incoming resources with	Where incoming resources have related expenditure (as with fundraising or contract income)
related expenditure	the incoming resources and related expenditure are reported gross in the SoFA.
Grants and donations	Grants and donations are only included in the SoFA when the charity has unconditional
	entitlement to the resources.
Tax reclaims on donations	Incoming resources from tax reclaims are included in the SoFA at the same time as the gift to
and gifts	which they relate.
Contractual income and	This is only included in the SoFA once the related goods or services have been delivered.
performance related grants
Gifts in kind	Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised.
	Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or
	distributed by the charity.
	Gifts in kind for use by the charity are included in the SoFA as incoming resources when
	receivable.
Donated services and	These are only included in incoming resources (with an equivalent amount in resources
facilities	expended) where the benefit to the charity is reasonably quantifiable, measurable and
	material_._The value placed on these resources is the estimated value to the charity of the
	service or facility received.
Volunteer help	The value of any voluntary help received is not included in the accounts but is described in the trustees’ annual report.
Investment income	This is included in the accounts when receivable.
Investment gains and losses	This includes any gain or loss on the sale of investments and any gain or loss resulting from
	revaluing investments to market value at the end of the year.
EXPENDITURE AND	LIABILITIES
Liability recognition	Liabilities are recognised as soon as there is a legal or constructive obligation committing the
	charity to pay out resources.
Governance costs	Include costs of the preparation and examination of statutory accounts, the costs of trustee
	meetings and cost of any legal advice to trustees on governance or constitutional matters.
Grants with performance	Where the charity gives a grant with conditions for its payment being a specific level of service
conditions	or output to be provided, such grants are only recognised in the SoFA once the recipient of the
	grant has provided the specified service or output.
Grants payable without	These are only recognised in the accounts when a commitment has been made and there are
performance conditions	no conditions to be met relating to the grant which remain in the control of the charity.
Support Costs	Support costs include central functions and have been allocated to activity cost categories on a
	basis consistent with the use of resources, eg allocating property costs by floor areas, or per
	capita, staff costs by the time spent and other costs by their usage.
ASSETS
Tangible fixed assets for use	These are capitalised if they can be used for more than one year, and cost at least £500. They
by charity	are valued at cost or a reasonable value on receipt.
Investments	Investments quoted on a recognised stock exchange are valued at market value at the year
	end. Other investment assets are included at trustees' best estimate of market value.
Stocks and work in progress	These are valued at the lower of cost or market value.

Page 10

Section C Notes to the accounts (cont)

Note 3 Analysis of incoming resources

Incoming resources may be further analysed if this would help the reader of the accounts.

Analysis	This year Last year £ £	This year Last year £ £
Income	146,664	130,321
Gift Aid	15,215	27,940
Grant	-	-
Total	161,879	158,261

Julia & Hans Trust	-	5,000
Eveson Trust	-	5,000
Sports England	-	3,876
Magic little Grant	-	500
	-	-
Total	-	14,376

CommunityFuel PovertyRelief.	9,750	-
	-	-
	-	-
	-	-
	-	-
Total	9,750	-

National LotteryCommunityFund	19,800	-
	-	-
	-	-
	-	-
	-	-
Total	19,800	-

Page 11

Section C Notes to the accounts (cont)

Note 4 Analysis of resources expended

Analysis	This year Last year £ £	This year Last year £ £
Travel	3,314	2,694
Building/rent	63	763
Van/Motor Expenses	1,192	2,924
Honorarium	262	800
Advert & Publicity	-	926
Mortgage Interest	8,448	7,636
Depreciation	-	1,783
Office expenses(inc stationery)	5,509	5,403
Telephone	441	396
Insurance	2,629	2,148
Accountancy/legal	-	1,977
Office equip	831	-
Legal & Professional fees	2,169	113
Information technology	22	1,803
HMRC	2,841	3,274
Outreach	176	7,239
Media	4,396	28
Repair	394	3,532
Bank charge	384	387
Utilities	6,700	4,465
Books & Library	673	629
Hospitality	3,737	5,168
Total	44,181	54,086

Food bank	4,496	11,000
Counseling suits &furniture	4,500	-
	-	-
Total	8,996	11,000

		-
	-	-
	-	-
Total	-	-

Mission/OverseasProject	9,277	2,000
Welfare	-	917
Conference	3,175	5,213
Donation	-	500
Fieldworker	103,957	96,326
Total	116,409	104,956

IndependentExamination	450	350
	-	-
	-	-
Total	450	350

Page 12

Section C Notes to the accounts (cont)

Note 5 Support Costs

Please complete this note if the charity has analysed its expenses using activity categories and has support costs.

*support costs.*
Support cost type	Fundraising activity £	Charitable Activity £	Governance Activity £	Total Cost £
	-	-	-	-
	-	-	-	-
	-	-	-	-
	-	-	-	-
	-	-	-	-
	-	-	-	-
	-	-	-	-
Total	-	-	-	-

Note 6 Details of certain items of expenditure

6.1 Trustee expenses

Please provide details of the amount of any payment or reimbursement of out-of-pocket expenses made to trustees or to third parties for expenses incurred by trustees. If no expenses were paid, please enter ‘None’ in the appropriate box(es).

Number of trustees who were paid expenses Nature of the expenses

Total amount paid

This year	Last year


£	£

6.2 Fees for examination or audit of the accounts

Please provide details of the amount paid for any statutory external scrutiny of accounts and other services provided by your independent examiner or auditor. If nothing was paid please enter NONE in the appropriate box(es).

Other fees (for example: advice, consultancy, accountancy services) paid to the independent examiner or auditor Independent examiner’s or auditors' fees for reporting on the accounts	This year £	Last year £
	400	350

Page 13

Section C Notes to the accounts (cont)

Note 9 Tangible fixed assets Please complete this note if the charity has any tangible fixed assets

9.1 Cost or valuation

9.1 Cost or valuation
Balance brought forward Additions Revaluations Disposals Transfers * Balance carried forward	Freehold land & buildings £	Other land & buildings £	Church Equipment £	Motor Vechicle £	Payments on account and assets under construction £	Total £
	284,276	-		7,135	-	291,411
						-
	-	-	-	-	-	-
	-	-	-	-	-	-
	-	-	-	-	-	-
	284,276	-	-	7,135	-	291,411

9.2 Accumulated depreciation and impairment provisions

SL or RB	SL or RB	SL or RB	SL or RB	SL or RB	SL or RB

-	-		7,135	-	7,135
-	-	-		-	-
-	-	-	-	-	-
-	-	-	-	-	-
-	-	-	-	-	-
4,000	-	-	-	-	4,000
4,000	-	-	7,135	-	11,135

284,276	-	-	-	-	284,276
280,276	-	-	-	-	280,276

9.4 Revaluation

If any fixed assets have been revalued please give details of the valuer and method of valuation

* The "transfers" row is for movements between fixed asset categories.

** Please indicate the method of depreciation by deleting the method not applicable (SL = straight line; RB = reducing balance). Also please indicate the rate of depreciation: for straight line, what is the anticipated life of the asset (in years); for reducing balance, what is the percentage annual deduction.

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Kingdom Life Apostolic Chapel - 30th Nov 2024

Section C Notes to the accounts (cont)

Note 11 Debtors and prepayments

Please complete this note if the charity has any debtors or prepayments.

Amounts falling due within oneyear	Amounts falling due within oneyear	Amounts falling due after more than oneyear	Amounts falling due after more than oneyear
This year £	Last year £	This year £	Last year £
	-	-	-
-	-	-	-
4,000	-	-	-
-	-	-	-
4,000	-	-	-

Note 12 Creditors and accruals

Please complete this note if the charity has any creditors or accruals. 12.1 Analysis of creditors

12.1 Analysis of creditors
Mortgage Trade creditors Amounts due to subsidiary and associated undertakings Deffered income Accruals and deferred income Total	Amounts falling due within oneyear		Amounts falling due after more than oneyear
	This year £	Last year £	This year £	Last year £
		-	109,093	116,840
	-	-	-	-
	-	-	-	-
		-	-	-
	400	350
	400	350	109,093	116,840

12.2 Security over assets

If any loan, overdraft or other creditor holds a charge or other security over any assets of the charity please provide details.

Page 15