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:
1. 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
2. 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**|