Charity No. 11398221 Company No. 07136075 THE ETERNAL SACRED ORDER OF CHERUBIM & SERAPHIM UK PROVINCE LTD Trustees, Report and Unaudited Accounts For the Period Ended on 30 September 2022 THE ETERNAL SACRED ORDER OF CHERUBIM & SERAPHIM UK PROVINCE LTD CONTENTS Pages Trustees, Annual Report Independent Examiner'5 Report statement Df Financial Activities Balance Sheet Notes to the Accounts 7-12 Oetailed Statement of Financial Activities 13 Page | 2 ## **THE ETERNAL SACRED ORDER OF CHERUBIM & SERAPHIM UK PROVINCE LTD** ## **TRUSTEES ANNUAL REPORT** The Trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the unaudited financial statements of the charity for the period ended 30 September 2022. ## **REFERENCE AND ADMINISTRATIVE DETAILS** Company No. 07136075 / Charity No. 1139822 Registered Office: 53, Chatham Street, London, SE17 lPA ## **Directors and Trustees** The Directors of the charitable company are its Trustees for the purposes of charity law. The following Directors and Trustees served during the year: S. Badejo 0. Enoch-Ajibola U. Bawo M.M. Osebor S. Onuoha C. Wogu-Nzeakor A. Odunela ## **Accountants** NF Financial Solutions Ltd - _Clo_ GoodtoGive Ltd The Trustees are responsible for keeping proper accounting records that 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 Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities. The above report has been prepared in accordance with the provisions �pplicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP (FRS 102). Signed on behar; the board � ........... �\,� O.E. Ajibola Page I 3 **THE ETERNAL SACRED ORDER OF CHERUBIM & SERA** P **HIM UK** P **ROVINCE LTD** ## **INDE** P **ENDENT EXAMINER'S RE** P **ORT** I report to the charity trustees on my examination of the accounts of the Company for the period ended 30 September 2022. ## **R** e **sponsibiliti** e **s** a **nd b** a **sis of r** e **port** As the charity ’ s trustees of the Company (who are also the directors of the company for the purposes of company law), you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ( “ the 2006 Act ” ). Having satisfied myself that the accounts of the Company are not required to be audited for this period under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity ’ s accounts as carried out under section 145 of the Charities Act 2011 ( “ the 2011 Act ” ). In carrying out my examination, I have followed the Directions given by the Charity Commission (under section 145(5)(b) of the 2011 Act. ## **Ind** e **p** e **nd** e **nt** e **x** a **min** e **r's st** a **t** e **m** e **nt** The company ’ s gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of Institute of Financial Accountants. I have completed my examination. I confirm that no material matters have come to my attention which gives me cause to believe that: - accounting records were not kept in accordance with section 386 of the Companies Act 2006; or - the accounts do not accord with such records; or • the accounts do not comply with relevant accounting requirements under section 396 of the Companies Act 2006 other than any requirement that the accounts give a ‘ true and fair ’ view which is not a matter considered as part of an independent examination; or - the accounts have not been prepared in accordance with the Charities SORP (FRS102). I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached Signed : ………………………………… . Dated : 05 July 2023 **B** a **sthiy** a **n K. A. C. S. Rodri** g **o** ( BSc Accountancy, MBA, ACASL,FFA/FIPA) On Behalf of NF Financial Solutions Ltd 29 Frensham Close, Southall, UB1 2YF Page I 4 ## **THE ETERNAL SACRED ORDER OF CHERUBIM & SERAPHIM UK PROVINCE LTD** ## **STATEMENT OF FINANCIAL ACTIVITIES for the period ended 30 September 2022** |||**Unrestricted funds**|**Total funds**|**Total funds**| |---|---|---|---|---| |||**2022**|**2022**|**2021**| |||**£**|**£**|**£**| ||**Notes**|||| |**Income and endowment from:**||||| |Donations and legacies||256,019|256, 019|277,739| |Other||86,153|86,153|61,236| |**Total Income**||**342,172**|**342,172**|**338,975**| |**Expenditure;**||||| |Fund raising costs||44,045|44,045|37,449| |Charitable activities||3,770|3,770|385| |Governance cost||3,223|3,223|315| |Other costs|3|157,949|157,949|101,834| |**Total Expenditure**||**208,987**|**208,987**|**139,983**| |**Net Income for the Period**||**133,184**|**133,184**|**198,992**| |Total funds brought forward||1,720,590|1,720,590|
1,521,598| |**Total funds**carried**forward**||**1,853,774**
------ ----|**1,853,774**
---------|**1,720,590**
---------| Page I 5 THE ETERNAL SACRED ORDER OF CHERUBIM & SERAPHIM UK PROVINCE LTD BALANCE SHEET As at 30 September 2022 Notes 2022 2022 2021 2021 Fixed assets Tangible asset 1,366,777 1,380,447 Current A55etS Cash in hand & at bank Other Debtors 425,874 66,384 278,259 66,384 492.258 344,643 Less . Creditors Amount falling due within one year 15,2601 14,5001 Net current assets 486,998 340,143 Total assets less current liability 1,853,774 1,720,590 Total net assets 1,853,774 1,720,590 Funds RestrScted funds Unrestritted funds 1,853,774 1,720,590 Total Funds I.SS2.774 1.720.590 These ateounts h3ve been prepared in accordance with the spetial provisions of Part 15 of the Companies Att 2006 relatin8 to small companies. For the period ended 30 September 2022 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companiès Act 2006. Thè directors acknowledgè their responsibilities for complying with the requirements of the Companies Act 2(106 with respect to accounting records and the preparation of accounts. Approved by the board on ...................-......-... 2022 And signed on its behalf by.. S. Badejo Trustee l Dirertor Date Page16 THE ETERNAL SACRED ORDER OF CHERUBIM & SERAPHIM UK PROVINCE LTD NOTES TO THE ACCOUNT5 for the Perlod Ended 30 September 2022 01.A¢counting pollcles Basls of preparation The financial statements have been prepared in accordance with Statement of Recommended Practice- Accounting and Reporting by Charities preparing their accounts in accord8nce with the Financial Reporting Standard applicable in the UK and Rèpublic of Ireland IFRS 1021 leffective I January 20151 ICharitie5 SORP IFRS 10211, the Finantial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006. change in basis of accountln8 or to prevlous accounts There has been no Change to the accounting policies Ivalvation rules and method of accountlngl since last year and no changes have been made to accounts for previous years. Fund attountlng Unrestrirted funds These are available for use at the discretion of the trustees in furtherance of the g@noral objetts of the charity. Designated funds These are unrestricted fvnds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds whl¢h include a revaluation reserve Tepresenting the restat@rrent of investment assets at thelr market values. Restricted funds These are available for use subject to restrlction5 imposed by the donor or through terms of an appeal. Income Recognition of income Income is included in the Statement of Financial Activtties ISOFAI when the charTrty becomes entltled to, and virtually certain to receive, the income and the amount of the income can be measured wrfch sufficient reliability. Income with related expenditure Where income has related èxpenditure the income and related expenditure is reported gross in the SOFA. Page | 7 THE EfERNAL SACRED ORDER OF CHERUBIM & SERAPHIM UK PROVINCE LTD NOTES TO THE ACCOUNTS for thè Period Ended 30 September 2022 Donations and legacies Voluntary income recelved by way of grants, donations and gift5 is included in the the SOFA when recewable and only when the Charity has uncon(Iltional entitlement to the income. Tax reclaims on donations and gifts Income from tax reclaims Is included in the SOFA at the same time as the 8ift/donation to which it relates. Donated seNices and facilities These are only included in income (with an equivalent amount in expenditurel where the benefit to the Charity is reasonably quantiflable, measurable and material. Volunteer help The value of any volunteer help received is not included in the accounts Investment income This is included in the accounts when receivable. Gain51llossesl on revaluation of fixed assets This include5 any gain or loss resultin8 from revaluing investments to market value at the end of the year. Gains/llosses1 on investment assets This Includes any gain or loss on the sale of investments. Expenditure Recognition of expenditure- Expendlture is recognised on an accruals basis. Expenditure include5 any VAT whlch cannot be fully recovered, and is reported as part of the expenditure to which it relates. Expen(liture on raising fund5: These comprise the costs associated wlih attracting voluntary income, tundraising trading costs and investment management costs. Expenditure on charitable activities.. Servtces in the furtherance of its objects, including the making of grants and governance costs Grant5 payable= All grant expenditure is accounted for on aclual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet pald. Governance cost.. These include those c05t5 associated with meetlng the constitutional and statutory requirements of the Charity. including any auditlindependent examination fee, costs linked to the strateglc management of the Charity, tO8ether with a share of other administration costs. Page | 8 THE ETERNAL SACRED ORDER OF CHERUBIM & SERAPHIM UK PROVINCE LTD NOTES TO THE ACCOUNTS for the Period Ended 30 September 2022 Other expenditure: These are support costs not allocated to a particular activity. Taxation The charity is exempt from carporation tax on its charitable activities Freehold investment woperty Investment properties are measured initially at cost and Subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Finantial I Activities as they arise. Stock5 Stock 15 included at the lower of cost or net realisable value. Donated Items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market. Trade and other debtors Trade and other debtors are recognised at the settlement amourlt due after any trade dlscount offered. Prepayments are valued at the amount prepaid net of any trade discount5 due. Cash and cash equivalents Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdraft5 are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's eash management. Trade and other creditors Short term creditors are measured at the transattlon prlce. Other credltors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of fund5 to a thlrd party and the amount due to settle the obligation can be measured or estimated reliably. Creditots and provisions are normally recognised at their settlement amount after allowin8 for any trade discounts due. Research and development Expenditure on research and development 15 written off in the year in which it Is Incurred. Foreign currencles Monetary asset5 and liabilities denominated in currencies other than the funciional currency of the charlty are translated at the rates of exchange prevailing 8t the end of the reporting period. Transactions in currenties other than the functional currency of the charity are rècordèd at the rate exchange on the date that the transaction occurred. All exchange differences are taken into account in arrivlng at net Incomelexpenditure. Page | 9 THE ETERNAL SACRED ORDER OF CHERUBIM & SERAPHIM UK PROVINCE LTD NOTESTO THE ACCOUNTS for the Period Ended 30 September 2022 Leased assets Where the charity enters into a lease which entai15 taking substar)tially all the risks and rewards of ownership of an asset, the lease 15 treated as a finance lease. Leases which do not transfer Substantially all the risks and rewar(1s of ownership to charity are classified a5 operating leases. Assets held undèr finance leases are initially recognised as assets of the charlty at their fair value at the inception of the lease or, if lower, at the Present value of the mTnimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses 3nd reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attrlbutable to qualifying asset5, in which case they are capitalised in accordance with the charity's policy on borrowing costs. Assets held under finance leases are depreciated in the same way as owned assels. Operating lease payments are recognised as an expense on a straight-line basis over the lease terni. In the event that lease incentives are received to enter into operatin8 leases, such incentives are recognised as a liabiltty. The aggregate benefil of incentives is recognised as a reduction of rental expense on a 5trai8ht-linÉ basis. Pension ¢osts The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations. The contrlbutions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independentlv administered funds. Receipt of donated goods, latilities and service All donated goods, facilities and services received are recogni5ed within incoming resources and expenditure at an estimate of the value to the charity. 02. Company status The company 15 a private company limited by 8uaranteÈ and consequently does not have share ¢apTtal 03 Other expenditure Un￿strIrted Total 2022 Total 2021 Premises costs Depreciation General administrative costs Legal and profe55ional cost 100,285 33,736 9,528 14,400 100,285 33.736 9,528 14.400 44.719 52,097 3,618 1,400 157,949 157,949 101,834 Page | 10 THE ETERNAL SACRED ORDER OF CHERUBIM & SERAPHIM UK PROVINCE LTD NOTES TO THE ACCOUNTS for the Period Ended 30 September 2022 04. Staff costs No employee received emoluments in excess of £60.0(KJ OS. Tangible flxed assets Property. Plant & Equipment Plant & Machinery Total Cost or revaluation At l April 2021 Additions 1,255,498 20.066 573,521 1,829.019 20,066 At 30 September 2022 1,275,564 573.521 1,849,085 De reciation and im At l April 2021 Depreciatlon charge for the year airment 448,572 33,736 448,572 33,736 At 30 September 2022 482,308 482,308 Net book values At.30 September 2022 1,255, 498 124,949 1,380,447 At 31 March 2021 1,275,564 91,213 1,366,777 06. Debtors 2022 2021 other debtors 66,384 66,384 66,384 66,384 07. Creditors- Amounts falllng due within one year 2022 2021 Bank loans and overdrafts Other loans Trade creditors 3,099 2,160 3,099 1,400 5,260 4,500 Page | 11 THE ETERNAL SACRED ORDER OF CHERUBIM & SERAPHIM UK PROVINCE LTD NOTES TO THE ACCOUTrThS for the Period Ended 30 September 2022 08. Related party disclosure5 Controlling party The company is limitod by guarantee and has no share capital,. thus no single party controls the company. Page | 12 THE ETERNAL SACRED ORDER OF CHERUBIM & SERAPHIM UK PROVINCE LTD D￿AlLED STATEMENT OF FINANCIAL ACTIVITIES for the period ended 30 September 2022 Unrestricted funds 2022 Total funds 2022 Total funds 2021 Income and endowments from: Donations and legacies other 256,019 86.152 256,019 86,152 277.739 61,236 Total income and endowments 342.172 342,172 338.975 Less: Expendlture: Costs of generatlng donations and legacies Governance cost Charitable artivitie5 Depreciation of 44.045 3,223 3.770 33,736 44,045 3.223 3,770 33,736 37,449 315 385 52,097 Pr mis Rènt Light, heat and power Premises cleaning Premises insurances Premise5 repairs and maintenance Other premises costs 39,235 25.123 6,014 9,146 16.786 3,681 39.235 25,123 6,014 9,146 16,786 3,681 17,395 17,582 475 4,133 5,134 General administrative costs Bank charges Information and publications Postage and courièrs Software, IT support and related costs Stationery and printing Vehicles- Leasing and hire costs Travel and 5ubsi5tence Sundry expenses Telephone, fax and broadband 656 605 278 40 255 450 318 584 439 I,iio 318 584 439 I,iio 2,OLK) 2,784 1,384 2,784 1,384 401 933 Le aland rofession81 cost Accountancy and bookkeeping Le8al fees 2,160 12,240 2,160 12,240 Totsl Expenditure 208.987 208,987 139.983 Net movement funds 133,184 133,184 198,992 Page | 13