Charlty No. 1139822 | Company No. 07136075 THE ETERNAL SACRED ORDER OF CHERUBIM & SERAPHIM UK PROVINCE LTD Trustees, Report and Unaudited Accounts For the Year Ended on 30 September 2023
THE ETERNAL SACRED ORDER OF CHERUBIM & SERAPHIM UK PROVINCE LTD CONTENTS Pages Trustees, Annual Report Independent Examlner's Report Statement of Financial Activities Balance Sheet Notes to the Accounts 7-12 Detailed 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 year ended 30 September 2023. REFERENCE AND ADMINISTRATIVE DETAILS Company No. 07136075 / Charity No. 1139822 Registered Office . 53, Chatham Street, London, SE17 IPA Dlrectors and Trustees The Directors of the charitable company are its Trustee5 for the purposes of charity law. The following Directors and Trustees served during the year.. O.E. Ajibola S. Badejo U. Bawo S. E. Onuoha C. Wogu-Nzeakor E. O. Osebor A. A. Odunela Accountants NF Financial Soliitions Ltd- Clo GoodtoGiv¢ Lid 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 responslble 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 applicable to companies subject to the small companies regime a5 set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP IFRS 1021. Signed on behalf of the board O.E. Ajibola Page | 3
THE ETERNAL SACRED ORDER OF CHERUBIM & SERAPHIM UK PROVINCE LTD INDEPENDENT EXAMINER'S REPORT I rtpon on the finaneial stslemcnts of the charity for the y¢Ar ended 30 Scpltmb¢r2Q23 which ¢ortWli5e the Siaiemeni of FinNn¢1 Adivilies BalatKe Sheet wilh &$50ciwI¢ li0. Thi5 ripirt is md¢ svlely lo th¢ thgriiy¥Tru51ce4 a5 4 body in I¢r¥Iance wilh 110 145 ofihe ChaTiiies Ath 2011 EThd Te8ulaiion8 mode under 5CCtion 154 ofihai Ad. My WO has beth undertak¢n so thai I might State lo Ihc cliariiy's Tn1¢¢5 thos¢ mallcr5 1 T¢quir¢d 10 siaie lo Ihetn in an tn(kp¢ThJeni txamin¢rf5 r¢port a1 for Do other pu5¢. To Ihc fu11¢51 exieiii pcmiill¢d by law. I do tK>t accepl or Ttsponsibility104nyottother than the ¢h8rity and Ihe ehErity'5 Tnjstees BS 8 kndy, for my exattunation work. RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER Th¢ charity's Ti1151ees ore sPOnsible for the PTeparalion of Ihc fiJhncial Staterts, and (hey ¢ottsideT that In audii is thot rLyuifL'd fvr Iliis yeBT und¢r 5cclion 144121 of Ilie Cliarili¢5 Aci 2011 Ithe Acll and thai an itsjependcnt ¢xaminaiioti is iiecdcd. It k8 my rewnsibility to.. E¥amin¢ ihe aceoun15 (under S¢ctioii 145 of Ihe Cliarilics Acll; To follow the procedures laid down in (he Gencril Dir110$ Biven by the Chaiity Commission¢r5 lundcr Section 145(5Mbl of lh¢ Chariiies A¢il", and To 5iiie whether particular matt¢rs have come 10 my &tt¢ntion. of lttdependenl EJamTneVs report My cxBThinBlion was ¢aTTicd out in C(daVe wilh the Genenl DiTCCtÉons wvetb by the Charity Commi36iotkrs. An ¢xllminBtivn in¢ludes a miew of the aOnTing rttord$ kept by th¢ GToupJDi51ticl a comp8rison of Ihe arcounls pr¢iiied willi Ih05e records. Il also includes LOSIderdIIoD of any unusual items Ordi15¢S in the *c¢ounts a1 seeking explAnMiioiis from you as irusi¢es concerning ony $u¢h maiicrs. The procedur¢s und¢mken th) I1 provide All the evidence 11141 would h¢ Tcquir¢d in an audit, conYqu¢nily no opinion is 8iv¢n 85 lo whether thc accowjls pr¢5enl a'trne f•ir' vicw 8nd th¢ rcpori is limited to those mall¢rs sci 0111 in the $lRl¢mcnl b¢low. Independent Ex4nilner's statement In ¢onnc¢iion with myexatnination. no mailer lias come 10 Illy Bii¢nlion'. 11 which gives m¢ re4sonible cJu5e to b¢li¢vc Iliai in any mllterial re8pwI the rcqiiirements.. to keep aUl)lIng re£oTds in 8tcordsnc¢ with seciion 130 of the Act,. and io pr¢par¢ financial 51alen¢S whi¢h accord wilh the accountiijg T¢cords and coiiiply with Ihc a¢¢ouniing tequirernenls of Ih¢ Aci hav¢ J]ot been nKt' or 21 to which, in my opinion. aiieniion should bc drawD in oftIErto W1¢ a proper of the financial 181¢mttlts 10 be Teached. Signed.. 23 June 2024 Basthlyan K. A, C, S. Rodrlgo [ B5c Accountancy, MBA ACASU FFA/FIPA} On behalf of NF Financial Solutions Ltd Page | 4
THE ETERNAL SACRED ORDER OF CHERUBIM & SERAPHIM UK PROVINCE LTD STATEMENT OF FINANCIAL ACTIVITIES for the year ended 30 September 2023 Unrestrlcted funds Total funds Total funds 2023 2023 20Z2 Notes Income and endowment from: Donations and legacies Other 231,004 15,287 231,004 15,287 256.019 86,153 Total Income 246,291 246,291 342,172 Expenditure. Fund raising costs Charitable activities Governance cost Other costs 40,270 18,064 2,160 149,241 40,270 18,064 2.160 149,241 44.045 3,770 3,223 157,949 Totsl Expenditure 209,785 209,785 208,987 Net Income for the Perlod 36,555 36,555 133,184 Total funds brought forward 1,853,774 1,853,774 1.720,590 Total funds carried foyward 1,890,330 1,890,330 1,853,774 Page | 5
THE ETERNAL SACRED ORDER OF CHERUBIM & SERAPHIM UK PROVINCE LTD BALANCE SHEET As at 30 September 2023 Notes 2023 2023 2022 2022 Fixed assets Tangible asset 1,368,042 1,366,777 Current Assets Cash in hand & at bank Other Debtors 463,201 66,384 425,874 66,384 522,585 492,258 Less . Creditors Amount falling due within one year 17,2981 15,2601 Net current assets 522,287 486,998 Total assets less current liability 1,890,330 1,853,774 Total net assets 1,890,330 1,853,774 Fund5 Rèstricted funds Unrestricted funds 1,890,330 1,853,774 Total Funds 1,890.330 1,853,774 These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. For the period ended 30 September 2022 the company was entitled to exemption under sectitsn 477 of the Companle5 Act 2006 relating to Small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. Approved by the board on . 2023 And signed on its behalf by: 5. 8adejo Trustee l Director Date Page | 6
THE ETERNAL SACRED ORDER OF CHERUBIM & SERAPHIM UK PROVINCE LTD NOTES TO THE ACCOUNTS for the Year Ended 30 September 2023 01.Accountlng policies 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 accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective I January 20151 Icharities SORP IFRS 10211, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006. Change in basis of a¢countlng or to previous accounts There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years. Fund accounting Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity. Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation fLtnds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values. Restricted fund5 These are available for use subject to restrictions imposed by the donor or through terms of an appeal. Income Recognition of income Income is included in the Statement of Financlal Activities ISOFAI when the charity becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliabilitv. Income with related expenditure Where income has related expenditure the income and related expenditure is reported gross in the SOFA. Page | 7
THE ETERNAL SACRED ORDER OF CHERUBIM & SERAPHIM UK PROVINCE LTD NOTESTO THE ACCOUNTS for the Year Ended 30 September 2023 Donations and legacies Voluntary income received by way of grants, donatlons and gifts is included in the the SOFA when receivable and only when the Charity has unconditional 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 giftldonation to which it relates. Donated services and facilities These are only included in income (with an equivalent amount in expenditure) where the benefit to the Charity is reasonably quantifiable, 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. GaSnslllosse51 on revaluation of fixed assets This includes any gain or loss resulting from revaluing investments to market value at the end of the year. Gainsll10s5esl on investment assets This includes any gain or loss on the sale of investments. Expenditure Recognition of expenditure: Expenditure is recognised on an accruals basis. Expenditure includes any VAT which cannot be fully recovered, and is reported a5 part of the expenditure to which it relates. Expenditure on raising funds.. These compr15e the costs associated with attracting voluntary income, fundraising trading costs and investment management costs. Expenditure on charitable activities.. Services in the furtherance of it5 objects, including the making of grant5 and governance costs Grants payable.. All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid. Governance cost.. These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fee, costs linked to the strategi¢ management of the Charity, together 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 Year Ended 30 September 2023 Other expenditure.. These are support costs not allocated to a particular activity. Taxation The charity is exempt from corporation tax on its charitable activities Property, Plant & Machinery 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 Firiancial l Activlties as they arise. Stocks Stock is included at the lower of cost or net realisable value. Donated Stems 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 amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts 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 overdrafts 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 cash management. Trade and other creditors Short term credito¥s are measured at the tran5aCtlon price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recogni5ed at thelr settlement amount after allowing for any trade discounts due. Research and development Expenditure on research and development is written off in the year in which it is incurred. Forei8n currencles Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period. Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred. All exchange differences are taken into account in arriving at net incomelexpenditure. Page | 9
THE ETERNAL SACRED ORDER OF CHERUBIM & SERAPHIM UK PROVINCE LTD NOTES TO THE ACCOUNTS for the Year Ended 30 September 2023 Leased assets Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is trèated as a finance lease. Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified a5 operating leases. A55et5 held under finance leases are initially recogni5ed as assets of the charity at their fair value at the inceptlon of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lossor is included in the balance sheet date a5 a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remainin8 balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs. Asset5 held under finance leases are depreciated in the same way as owned assets. Operating le3se payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of Incentives is recognised as a reductlon of rental expense on a straight-line basi5. Pension costs The charity operates a defined contribution plan for its employees. A definetj 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 contributions are recognised a5 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 independently administered funds. Recelpt of donated 8oods. facllltle5 and servlce All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity. 02. Company status The company is a private company limited by guarantee and consequently doe5 not have share capital 03 Other expenditure Unrestrlcted 2023 Total 2023 Total 2022 Premises cc>sts Depreciation General administrative costs Legal and professional cost 83,679 16,418 41,568 7,576 83,679 16,418 41,568 7,576 100,285 33,736 9,528 14,400 149.Z41 149,241 157,949 Page | 10
THE ETERNAL SACRED ORDER OF CHERUBIM & SERAPHIM UK PROVINCE LTD NOTES TO THE ACCOUNTS for the Year Ended 30 September 2023 04. Staff costs No employee received emoluments in excess of £60,000 05. Tangible flxed assets Property, Plant & Equipment Plant & Machlnery Total Cost or revaluation At l October 2022 Additions 1,275,564 17,684 573,521 1,849,085 17,684 At 30 September 2023 1,293,248 573,521 1,866,769 De reciation and im At l October 2022 Depreciation charge for the year airment 482,308 16,418 482,308 16,418 At 30 September 2023 498,727 498,727 Net book value5 At 30 September 2023 1,293,248 74.794 1.368,042 At 30 September 2022 1,275,564 91,213 1,366,777 06. Debtors 2023 2022 Other debtors 66,384 66,384 66,384 66,384 07. Credltors.. Amounts falling due within one year 2023 2022 Bank loans and overdrafts Other loan5 Trade creditors 3,099 4,198 3,099 2,160 7.298 5,260 Page | 11
THE ETERNAL SACRED ORDER OF CHERUBIM & SERAPHIM UK PROVINCE LTD NOTES TO THE ACCOUNTS for the Year Ended 30 September 2023 08, Related party disc105ures Controlling party The company is limited 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 DETAILED STATEMENT OF FINANCIALACTIVITIES for the Year ended 30 September 2023 Unrestrlcted fund5 2023 Total funds 2023 Total funds 2022 Income and endowments from: Donation5 and legacies Other 231,004 15,287 231,044 15,287 256,019 86,152 Total income and endowments 246,291 246,291 342,172 Less: Empenditure: Costs of generating donations and legacies Governance cost Charitable activitles Depreciation of 40,270 2,160 18,064 16,418 40,270 2,160 18,064 16,418 44,045 3,223 3,770 16,418 Premi5e5 C05t5 Rent Light, heat and power Premises cleaning Premises insurances Premises repairs and maintenance Other premises costs 25.350 22,155 4,674 7,711 20,648 3,146 25,350 22,155 4,674 7,711 20,648 3,146 39,235 25,123 6,014 9,146 16,786 3,681 General administrative costs Bank charges Information and publications Postage and couriers Software, IT support and related costs Stationery and printing Travel and subsistence Sundry expenses Telephone, fax and broadband 1,042 8,580 330 310 1,426 27,550 367 1,458 1,042 8,580 330 310 1,426 27,550 367 1,458 909 318 584 439 I,iio 2,000 2,784 1,384 Le al and rofessional costs Accountancy and bookkeeping Legal fees 2,160 12,240 7,576 7,576 Total Expenditure 209,735 209,735 208,987 Net movement funds 36.555 36,555 133,184 Page | 13