ReRistered Cliai'it), No - 1139822 THE ETERNAL SACRED ORDER OF CHERUBIM & SERAPHIM UK PROVINCE LTD TiSteeS, Repoi-t and Accounts foi" tlie yeai. ending 30 Septembei" 2024
CONTENTS PAGE Trustees Anniial Report Independent Examiners, Repoit Statement of Financial Activities Balance Sheet Notes to the Accouiits Detailed Statement of Financial Activities 12
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 30 SEPTEMBER 2024 Trustees Mr Sam Badejo (Chair) Emmauel Osemobo Osebor Dr David Lamjose Bob-manuel Prelate Dr Napoleon Emuchay Secrelary Solomon Egwuchukwu Onuoha Chinyere Wogu-Nzeakor Adedapo Odunela Olawale Enoch-Ajibola Ukachi Bawo Charity registered Number 1139822 Date of charitable registration 13 January 2011 Principal olee 53 Chatham Street London SE17 IPA Independent examiners Accounting Assist Ltd CIO Good to Give Ltd Bankers HSBC Bank TSB Bank The Ti'uslees are I'esponsible for keeping proper accounliiig records tl)at disclose with reasonable a¢¢iira¢y at any time the financial position of the charity and to enable them to ensui'e tliat the financial slateinents comply with the Companies Act 2006. Tlie Trustees are also responsible foi. safeguai'ding tlie assets of the charity and hence taking reasonable steps for tlie pi'evention and detection of fraud and other irregularlties. The above report has been prepared in accordance with the provisions applicable to coinpanies siibject to the small coinpanies I'egime as set out in Parl 15 of the Coinpanies Act 2006 aiid in accoi'dance with the Charities SORP (FRS 102). This report was approved by ihe Trustees on and signed on their behalf by: Signatui'e.... Date..
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2024 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE ETERNAL SACRED ORDER OF CHERUBIM & SERAPHIM UK PROVINCE LTD I report on th¢ financial statements of the charity for the year ended 30 September 2024 which comprise the Statement of Flnancial Activilies 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 201 l and regulations made under section 154 of that Ath. My work has been undertaken so thai I might state lo the charily's Trustees those matters l am required lo stale lo Ihem in an independent examiner's report and for no other purpose. To the fullest extent pemlitted 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 Ex*miner The charity's Trustees are sponSible for the preparation of ihe financial statements, and they consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (Ihe Act) and ihat 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 stale whether particular matters have comc to rny attention. BR5iS of Independent ExAmin¢r's report My examination was carried out in accordance with ihe General Directions given by the Charity Commissioners, An examination includes a review of the accounting records kept by the GroUCharItY and comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in Ihe accounts and seekiiig explanations from you as Iruslees ¢oncerning any such matters. The procedures uiidertaken do not provide all the evidence that would be required in an audit, and consequently no opiiiion is given as to whetlier Ilie accounts present a 'lrue and fair, view and Ilie repoit is liiiiited to Iliose matters set out in the statement below. Independeiit Examiner's statement In connection with my examination, no matter has come lo my attention: l ) 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 tlie Act have not been met. or 2) to which. in my opinion. attention should be drdwn in order lo enable a proper understanding of the financial slalemenls to be reached. Signed: Dated: 0710512025 Anum Hassan, FCCA On behalf of Accounting Assist Ltd 31Page
STATEMENT OF FINANCIAL ACTIVITIES {Incorpora¢ing income and expenditure account) FOR THE YEAR ENDED 30 SEPTEMBER 2024 Unre51ricl¢d Re$trict Total fi unds l 0(Al Funds 2024 2024 2024 2023 Notes Incoming resources Donalions & l¢gaci¢s 239,224 239.224 231.004 Gift Aid 73.437 73.437 Other Income 1.434 1.434 1 5.287 Total Incoming resources 314,095 314,095 246,291 Resources txpended Fund raising Costs 54,667 54.667 40.270 Cliarilable Activities 25.345 25.345 18,064 GovernHnce Costs 2.160 2,160 2,160 Other Costs 131.729 131,729 149,241 Tolll Resoiirce$ expended 213,901 213,901 209,785 Movement in tot81 fund for the year- Nel incoinc I (cxpcnditiirc) For the year 100,194 IOD,194 36,555 Fiind balance broiighi fornvard 1,890J30 ,890,330 ,853,774 Fiind balan¢¢ ¢8rried fonv8rd ,990,$24 ,990,524 1,890JJO
BALANCE SHEET AS AT 30 SEPTEMBER 2024 2024 2023 Note rixiD ASSETS Tangible assels lJ88,214 1068,042 CURRENT ASSETS Cash in hand & at Bank 603,409 463,201 66,384 522,585 Other D¢biors 603,409 CRCDITORS: amounts fE4lling due wiihin one year (1,099) (7,298) NET CURRENI. ASSETS 602,310 522,287 TOTAL ASSETS LESS CURRENT LIABILII'IES 1,990,524 1,890D30 'I'O'I'AL NE'f Assf'rs 1.990,524 1,890,33 CIIARITY fuNDS Unreslricled funds 1,990,524 1,890,330 Il¢slrieled funds TO'fAL fiiNDS 1,990.S24 1,890,330 These accolints have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 I'elating to small companics. For Ihe period ended 30 September 2022 Ilie 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 Compaiiies Act 2006. The directors acknowledge their responsibi lities for complying with the reqiiirements of the Companies Act 2006 will) IEspect to accounting recolS and the prepai'ation of accoiinls. This was approved by the Trustees on and signed on their behalf by: Name Q.L*¢%J4og 6Atoct(- Ai 160 L4 Signature.... 21- &4 -Y1£- 51 Page
NOTES TO THE FINANCIAL STATEMENT FOR THE YEAR ENDED 30 SEvfEMBER 2024 I. ACCOUNTING POLICIES Basis of preparation of financial statements The financial statements have been prepared in accordance with Statement of Recommended Practice. Accolinting and Reporting by Charities preparing their accounts in accoi'dance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective I JanLiai'y 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. Change in bxsis of accounting or to previous aecounts Thei'e 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 al'e available for use at the discretion of the trustees in furtherance of the general objects of the charity. Designated funds: These are unreslricted funds earmarked by the trustees for particular purposes. RevalLiation funds: These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values. Reslricted funds: These are available for use subject to restrictions imposed by the donor or througli terms of an appeal. Income Recognition of income: Incoine is included in the Stalement of Financial Activities (SOFA) when the charity become5 entitled to, and vii'tually certain to receive, the income and the amount of the incoine can be Ineasui'ed with sufficient reliability. Income with related expenditiire: Where income lias related expenditure the income and related expenditure is reported gross in the SOFA. Donations and legacies.. Voliinlary income I'¢c¢ived by way of grants, donations and gifts is included in the the SOFA when receivable and only when the Charity has unconditional entitlement to the income.
NOTES TO THE FINANCIAL STATEMENT FOR THE YEAR ENDED 30 SEPTEMBER 2024 (Conliiiiied) Tax reclaims on donations and gifts.. Income from tax i'eclaims is included in the SOFA at the same time as the gilvdonation 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 materlal. Volunteer help: The value of any volunteer help received is not included in the accounts Investment income: This is incliided in the accounts when receivable. Gains/(losses) on revalualion of fixed assels: This includes any gain or loss resulting from revaluing investments to market value at the end of the yeai., Gains/(losses) on investment assets: This incliides any gain or loss on the sale of investments. Expenditure Recognition of expenditure: ExpendilLire is recognised on an accruals basis. Expendilure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates. Expenditiire on raising funds: These comprise the costs associated with attracting voluntary income, fundraising ti'ading costs and investmeiit management costs. Expenditiire on charitable activities: Services in the fiiitherance of its objects, including the making of grants and governance costs Granls payable: All grant expenditure is accounted for on an actual paid basis pliis an accrual for gi'ants that have been approved by the trustees at the end of the year but not yet paid. Gov¢i'nance cost: These include those costs associated with meeting the constitutional and statutory requirements of tlie Chai'ity, including any auditlindependent examination fee, costs linked to the strategic management of the Charity, together with a share of other adminislralion costs. Other expenditiiie.. These are SLlPPOIt costs not allocated to a particular activity.
NOTES TO THE FINANCIAL STATEMENT FOR THE YEAR ENDED 30 SEPTEMBER 2024 (Coiiliiiued) Taxation The charity is exempt from corporation tax on ils charitable activities Properlyg Plant & Machinery Properties are measured initially al 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 Financial l Activities as they arise. Stocks Stock is included at the lower of cosl or net realisable value. Donated items of slock air recogiiised al fail. vallie which is th¢ amount the charity would have been willing to pay for the iteins on the open market. Trade and other debtors Trade and other debtors are recognised at the settlement amount due after any Irade discount offei'ed. Pi'epaymcnts are valued at the amount prepaid net of any trade discounts due. Cash and cash equivalents Cash and cash equivalenls comprise cash at bank and on hand, demand deposits with banks and other sliort-term highly liqiiid investinenls with original maturities of three Inonths or less and bank overdrafts, In the statement of financial position, bank overdrafts aiT sliown within bori'owings or curi'ent liabilities. In the Statement of Cash Flows, cash and cash equivalents are sliowii net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management. Trade And other creditors Shoi't tcrin ci'editors al'e Ineasured at the transaction price. Other Creditors and provisions are I'ecognised where the charity has a presenl 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 measiired oi. estiinaled I'eliably. Creditors and provisions are normally recognised at their settlement amoLint after allowing for any trade discounts due. Research and development . Expendiliire on research and development is written off in the year in which it is incurred. Foreign currencies Moiietary assets and liabilities denominated in currencies other than the functional currency of the chai'ity are translated at the rates of exchange prevailing at the end of Ihe reporting period. Transactions in cui'rencies other than the functional currency of the charity are recoi'ded at the rate of exchange on Ihe dale that the ti'ansaction OCCUlTed. All exchange differences are taken into accouiit in arriving at net income/¢xpenditure.
NOTES TO THE FINANCIAL STATEMENT FOR THE YEAR ENDED 30 SEPTEMBER 2024 (Coiiliniied) Leased assets Wher¢ the charity enters into a lease which entails Lgking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease. Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases. Assets held under finance leases are initially recognised as assets of the Charity at their fair value at the in¢cption of the lease or, if lower, at the present value of the minimum lease payjnents. The cori'esponding liability to the lessor is included in the balance sheet date as a flnance 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 reinaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attribulable to qualifying assets, in which case they are capilalised in accordance with the Charity's policy on borrowing costs. Assets held linder finance leases are depreciated in the same way as owned assets. Operating lease 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 incenlives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis. Pension costs 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 entily. Once the conti'ibutions have been paid the company has no further payments obligations. Tlie contributions al'e i'ecognised as expenses when they fall due. Amounts not paid al'e showii in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds. Receipt of donated goods, facilities and service Al I donated LFoods, facilities aiid serviccs i¢c¢ived are recognised within incoming resources and expenditure at an estimate of the value to the charity. 2. COMAPANY STATUS The company is a private company limited by guarantee and consequently does not have share Capital 3. OTHER EXPENDITURE Unrestricted 2024 Totil 2024 Total 2023 Premises Costs Depreciation General Administrative Costs Legal & professional Costs Total expen(liÉure 95,340 13,463 22.476 450 95.340 13,463 22.476 450 83,679 16,418 41,568 7,576 149,241 131,729 131,729
NOTES TO THE FINANCIAL STATEMENT FOR THE YEAR ENDED 30 SEYfEMBER 2024 (Coiilliiiied) 4. STAFF COSTS No Employee received emoluments in excess of £60.0(M) 5. TANGIBLE FIXED ASSETS Property, Plant & Equipment Plant & MAchinery TotAI COST OF REVALUATION At l October 2023 1293248 573,521 1,866,769 Additions 33,635 At 30 September 2024 1,293,248 607,156 ,866,769 DEI PRECIATION & IMPAIRMENT At l October 2023 498,727 498,727 Depreciation Charge for the year 13,463 13,463 At 30 September 2024 512,190 512,190 NET BOOK VALUE At 30 September 2024 1,293,248 94,966 1,388,214 At 30 September 2023 1,293,248 74,794 1,368,042 101 Page
NOTES TO THE FINANCIAL STATEMENT FOR THE YEAR ENDED 30 SEPTEMBER 2024 (Conliniied) 6. DEBTORS 2024 2023 Other Debtors 66,384 66,384 7, CRIDITORS: 2024 2023 Bank Loans & Overdrafts other Loans Trade Creditors .099 3,099 4,198 1,099 7,298 8. RELATED PARTY DISCLOSURES Conlrolling party Tlie company is limited by guarantee and has no share capital, thus no single party controls the company, 111 Page
DETAILED STATEMEwf OF FINANCIAL ACTIvrrIES FOR YEAR ENDED 30 SEPTEMBER 2024 Unrestrieted Totgl 2024 Total 2023 2024 Income and Endowment from: Donations & Lega¢ies Gift Aid Other Total Income & Endowments 239.224 73.437 1.434 314,095 239,224 73.437 1,434 314,095 231.044 15,287 246,291 Less Ex enditur¢' Costs of Generating Donations & Legacies Governance Cost Charitable Activities Depreciation 54,667 2.160 25.345 13,463 54,667 2.160 25.345 13,463 40,270 2,160 18,064 16,418 Premises Cos Rent Light, Heat & Power Premises Cleaning Premises Insurance Premises Repair & Maintenance Other Premises Costs 22.650 35,790 3,201 4,795 27,792 22.650 35,790 3,201 4.795 27,792 25.350 22,155 4,674 7,711 20,648 3.146 Ceneral Administrative Costs Bank Char8es Infonnation & Publication Postage & Courier Software, IT Support & Related Costs Stationary & Printing Travel & Subsistence Sundry Expenses Telephone, F&x & Broadband 890 890 ,042 8.580 330 310 1,426 27.550 367 1,458 3.247 353 950 3.247 353 950 15.530 478 1,028 15,530 478 1.028 rofessional Costs Legal Fees 450 450 7,576 Total Expenditure 213.901 213.901 209,735 Net Movemellt Funds 100,194 100.194 36,555 121 Page