CELESTIAL CHURCH OF CHRIST PALACE OF LIBERTY PARISH Charity No: 1140066 (England & Wales) For the Year Ended 31 August 2021
CELESTIAL CHURCH OF CHRIST PALACE OF LIBERTY PARISH
Charity No: 1140066 (England & Wales)
For the Year Ended 31 August 2021
Trustees:
Elizabeth Omoyeme Ujiatolor Raphael Adedotun Oguntuga Temitope Erinoso Mariam Dosumu
Registered Office:
Floor 1 and 2 100 Vale Road Manor House London N4 1PT
Structure, Governance and Management
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes an unincorporated charity
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and terror
This report was approved by the board of directors on 30th April 2022 and signed on behalf of the board by:
Temitope Erinoso
Trustees Annual Report For the Year Ended 31 August 2021
I report on the accounts for the year ended 31st August 2021 set out on the following pages
Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 ("the Charities Act") and that 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 Commission (under section 145(5)(b) of the Charities Act, and
. to state whether particular matters have come to my attention
Basis of independent examiner's statement
My examination was carried out in accordance with 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 the 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
Independent examiner's statement
In connection with my examination, no matter has come to my attention:
-
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 Charities Act; and
-
.to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act have not been met; or
-
to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Kinta Services Ltd Tolu Akinwande Chartered Accountant 108 Grafton Road, Dagenham Essex, RM8 3EX
CELESTIAL CHURCH OF CHRIST PALACE OF LIBERTY PARISH Charity No: 1140066 (England & Wales)
For the Year Ended 31 August 2021
| Unrestricted Funds 2021 Note INCOMING RESOURCES Incoming resources from charitable activities 2 126,663 Activities in furtherance of the charity 2 Gift Aid 48,281 TOTAL INCOMING RESOURCES 174,946 RESOURCES EXPENDED Charitable activities 3 (26,064) Governance costs (95,562) TOTAL RESOURCES EXPENDED (121,626) NET INCOMING/(OUTGOING) RESOURCES FOR THE YEAR 53,319 RECONCILIATION OF FUNDS Total funds brought forward 19,459 TOTAL FUNDS CARRIED FORWARD 72,778 |
Total Funds 2020 85,755 40 14,145 |
|---|---|
| 99,940 (30,208) (74,853) |
|
| (105,061) | |
| (5,121) | |
| 24,580 | |
| 19,459 |
CELESTIAL CHURCH OF CHRIST PALACE OF LIBERTY PARISH Charity No: 1140066 (England & Wales)
For the Year Ended 31 August 2021
| Note FIXED ASSETS Tangible assets 4 CURRENT ASSETS Debtors 5 Cash at bank and in hand CREDITORS Amounts falling due within one year 6 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES Amounts falling due after within one year 7 NET ASSETS FUNDS Unrestricted income funds 8 Total shareholders' capital (deficit) |
Unrestricted Funds 2021 £ 13,236 44,423 26,819 71,242 (2,764) 68,478 81,714 (5,936) 75,778 75,778 75,778 |
Total Funds 2020 £ 5,820 15,351 5,788 21,139 (7,500) 13,639 19,459 - 19,459 19,459 19,459 |
2019 3,744 6,152 -9,630 |
|---|---|---|---|
| 166 100 166 |
Trustees' responsibilities
The members have not required the charity to obtain an audit of its accounts for the year in question; and The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These financial statements were approved and signed by the member of the committee and authorised for issue on 30th April 2022.
Temitope Erinoso
CELESTIAL CHURCH OF CHRIST PALACE OF LIBERTY PARISH Notes to the Financial Statements
For the Year Ended 31 August 2021
1. Accounting policies
Basis of accounting
The accounts have been prepared under the historical cost convention and in accordance with the Statement of Recommended Practice - Accounting and Reporting by Charities (SORP 2005) issued in December 2005 and applicable accounting policies in the preparation of the financial statements are as follows.
Incoming resources
These are recognised in full in the Statement of Financial Activities in the period in which they are received. Included are income from donations and events held in the year and accounted for as unrestricted-funds.
Resources expended
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost in relation to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Fixed assets
All fixed assets are initially recorded at cost.
Depreciation
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Plant and machinery - 25% reducing balance Fixtures & Fittings - 25% reducing balance Motor Vehicles - 25% reducing balance
Taxation
The charity is exempt from tax on its charitable activities
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the entity
CELESTIAL CHURCH OF CHRIST PALACE OF LIBERTY PARISH
Charity No: 1140066 (England & Wales) For the Year Ended 31 August 2021
2. INCOMING RESOURCES
| Collections Gift Aid Bank and other interest 3. RESOURCES EXPENDED Honoraium Donations Harvest expenditure Pastorial expenditure Church expenditure Pastorial returns Professional Fees Travel Building Lease VAT running expense Building refurbishment Telephone, fax & Internet Insurance Gas, electricity & repairs Refuse Evangelism Musical Instruments Loan repayment Van purrchase Depreciation |
2021 2020 126,663 85,755 2 40 48,281 14,145 174,946 99,940 2021 2020 810 4,039 3,455 1,673 5,793 8,292 10,930 11,226 5,077 3,930 - 1,048 2,310 7,748 1,142 1,601 51,500 18,950 - 2,983 20,665 38,300 851 411 1,684 1,312 2,792 875 1,725 455 - 510 309 - - - 10,000 - 2,584 1,708 121,626 105,061 |
|---|---|
CELESTIAL CHURCH OF CHRIST PALACE OF LIBERTY PARISH
Charity No: 1140066 (England & Wales) For the Year Ended 31 August 2021
4. TANGIBLE FIXED ASSETS
| Fixtures & Fittings | Fixtures & Fittings | Equipment | Motor Vehicles |
|---|---|---|---|
| COST | |||
| At 1 September 2020 | 6,064 | 4,273 | 2,200 |
| Additions | 10,000 | ||
| At 31 August 2021 | 6,064 | 4,273 | 12,200 |
| DEPRECIATION | |||
| At 1 September 2020 | 2,852 | 1,665 | 2,200 |
| Charge for the year | 1,516 | 1,068 | 0 |
| At 31 August 2021 | 4,368 | 2,733 | 2,200 |
| NET BOOK VALUE | |||
| At 31 August 2021 | 1,696 | 1,540 | 10,000 |
| At 1 September 2020 | 3,212 | 2,608 | 0 |
| 5. DEBTORS | 2021 | 2020 | |
| Rent reposit | 15,351 | 15,351 | |
| Gift Aid | 29,072 | - | |
| 44,423 | 15,351 | ||
| 6. CREDITORS: Amounts falling due within one year | |||
| 2021 | 2020 | ||
| Van finance | 2,764 | - | |
| Accountancy's Fee |
1,200 | 500 | |
| Other creditors |
- | 7000 |
|
| 3,964 | 7,500 | ||
| 7. CREDITORS: Amounts falling due after more than one | year | ||
| 2021 | 2020 | ||
| Van finance | 5,936 | - | |
| 5,936 | - | ||
| 8. UNRESTRICTED INCOME FUNDS | |||
| At | Net movement | At | |
| 01.09.20 | in funds | 31.08.21 | |
| £ | £ | £ | |
| General Funds | 19,459 | 56,319 | 75,778 |
| Total Funds | 19,459 | 56,319 | 75,778 |