CELESTIAL CHURCH OF CHRIST PALACE OF LIBERTY PARISH
Charity No: 1140066 (England & Wales)
For the Year Ended 31st August 2023
CELESTIAL CHURCH OF CHRIST PALACE OF LIBERTY PARISH
Charity No: 1140066 (England & Wales)
For the Year Ended 31st August 2023
The Trustees, who are also directors for the purposes of company law, have pleasure in presenting their report and the financial statements for the charitable company for the year ended 31 August 2023. The Trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and the Republic of Ireland (FRS 102) (effective 1 January 2019).
Chair's report
Celestial Church of Christ - Palace of Liberty Parish has a dedicated and hard-working team on board. Our committed team of volunteers, along with our many dynamic supporters enable the charity to continue in strength and keep up the important work of spreading the gospel. We want to say thank you to them all.
Objectives and Activities
The overall purpose of the Church is to achieve its charitable objectives, which consist of the following:
-
The advancement of the Christian faith.
-
To relieve sickness and financial hardship and to promote and preserve good health by the provision of funds, goods or services of any kind, including through the provision of counseling.
-
The advancement of education of children and adults. - Any other charitable purpose for the benefit of the local community.
Celestial Church of Christ - Palace of Liberty Parish delivers it's charitable objectives by maintaining a vibrant and inclusive place of worship, where all are welcomed, and we aim to continue to involve our local and wider communities. We provide weekly Sunday services for adults and children, regular midweek meetings for teaching, mentoring and coaching. We also conduct services for baptism, marriages, funerals and the dedication of infants.
Volunteers
Celestial Church of Christ - Palace of Liberty Parish has many volunteers that assist the Church in achieving it's objectives.
Achievements and Performance
During the year, the Church delivered a wide range of activities and events to the community through the various services and conferences held. This includes specific activities for women and men as well as activities for the youth and children. Sharing the gospel of Jesus Christ is especially beneficial to the lives of the people that hear and receive it. It brings Hope, Faith and Love.
2
Structure, Governance and Management
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.
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
This report was approved by the trustees and signed on behalf of the board by:
Name:
Temitope Erinoso
—--------------------------------------
Signature:
==> picture [95 x 37] intentionally omitted <==
—--------------------------------------
Date:
==> picture [79 x 21] intentionally omitted <==
—--------------------------------------
3
CELESTIAL CHURCH OF CHRIST PALACE OF LIBERTY PARISH
Charity No: 1140066 (England & Wales) For the Year Ended 31st August 2023
Trustees Annual Report
I report on the accounts for the year ended 31st August 2023 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 Tolulope Akinwande Chartered Accountant 9 Batts House, RM9 6FP
4
CELESTIAL CHURCH OF CHRIST PALACE OF LIBERTY PARISH Charity No: 1140066 (England & Wales) For the Year Ended 31st August 2023
| Unrestricted | Total | ||
|---|---|---|---|
| Funds | Funds | ||
| 2023 | 2022 | ||
| Note | |||
| INCOMING RESOURCES | |||
| Incoming resources from charitable activities | 109,724 | 93,357 | |
| Activities in furtherance of the charity | 357 | 4 | |
| Gift Aid | 27,431 | 23,339 | |
| TOTAL INCOMING RESOURCES | 137,512 | 116,700 | |
| RESOURCES EXPENDED | |||
| Charitable activities | (5,885) | (25,159) | |
| Governance costs | (93,461) | (92,749) | |
| TOTAL RESOURCES EXPENDED | 2 | (99,346) | (117,908) |
| NET INCOMING/(OUTGOING) RESOURCES FOR | THE YEAR | 38,166 | (1,208) |
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | 48,278 | 49,486 | |
| TOTAL FUNDS CARRIED FORWARD | 86,444 | 48,278 |
5
CELESTIAL CHURCH OF CHRIST PALACE OF LIBERTY PARISH
Charity No: 1140066 (England & Wales)
For the Year Ended 31st August 2023
| Unrestricted | Total | ||
|---|---|---|---|
| Funds | Funds | ||
| 2023 | 2022 | ||
| Note | |||
| FIXED ASSETS | |||
| Tangible assets | 3 | 5,700 | 7,602 |
| CURRENT ASSETS | |||
| Debtors | 4 | 42,782 | 44,470 |
| Cash at bank and in hand | 58,534 | 18,342 | |
| TOTAL CURRENT ASSETS | 101,316 | 62,812 | |
| CREDITORS | |||
| Amounts falling due within one year | 5 | (4,764) | (4,764) |
| NET CURRENT ASSETS | 96,522 | 58,048 | |
| TOTAL ASSETS LESS CURRENT LIABILITIES | 102,252 | 65,650 | |
| Amounts falling due after within one year | 6 | (15,808) | (17,372) |
| NET ASSETS | 86,444 | 48,278 | |
| FUNDS | |||
| Unrestricted income funds | 7 | 86,444 | 48,278 |
| TOTAL FUNDS | 86,444 | 48,278 |
Trustee’s 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.
Name:
Temitope Erinoso
—--------------------------------------
Signature:
==> picture [57 x 22] intentionally omitted <==
—--------------------------------------
Date:
==> picture [79 x 21] intentionally omitted <==
—--------------------------------------
6
CELESTIAL CHURCH OF CHRIST PALACE OF LIBERTY PARISH
Charity No: 1140066 (England & Wales) For the Year Ended 31st August 2023
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.
7
CELESTIAL CHURCH OF CHRIST PALACE OF LIBERTY PARISH
Charity No: 1140066 (England & Wales)
For the Year Ended 31st August 2023
2. RESOURCES EXPENDED
| RESOURCES EXPENDED | ||
|---|---|---|
| 2023 | 2022 | |
| Honorarium | - | 1,810 |
| Donations | 5,885 | 2,217 |
| Harvest expenditure | 6,355 | 5,894 |
| Pastoral expenditure | 12,035 | 11,710 |
| Church expenditure | 87 | 3,528 |
| Professional Fees | 2,600 | 4,636 |
| Transportation | - | 270 |
| Travel | 5,163 | 6,216 |
| Building Lease | 47,000 | 47,000 |
| Building refurbishment | 10,771 | 10,313 |
| Business rates | 2,093 | 2,250 |
| Telephone, fax & Internet | 1,497 | 1,156 |
| Insurance | 1,884 | 1,799 |
| Gas, electricity & repairs | - | 11,159 |
| Bank charges | 351 | 231 |
| Refuse | 1,764 | 1,814 |
| Musical instruments | - | 271 |
| Depreciation | 1,901 | 5,634 |
| TOTAL RESOURCES EXPENDED | 99,344 | 117,908 |
3. TANGIBLE FIXED ASSETS
| Fixture & Fittings | Equipment | Motor Vehicles | |
|---|---|---|---|
| Cost | |||
| At 1st September 2022 | 6,064 | 4,273 | 12,200 |
| Additions | - | - | - |
| At 31st August 2023 | 6,064 | 4,273 | 12,200 |
| Depreciation | |||
| At 1st September 2022 | 5,884 | 3,802 | 5,250 |
| Additions | 45 | 118 | 1,738 |
| At 31st August 2023 | 5,929 | 3,920 | 6,988 |
| Net Book Value | |||
| At 31st August 2022 | 180 | 472 | 6,950 |
| At 31st August 2023 | 135 | 353 | 5,212 |
8
4. DEBTORS
| DEBTORS | ||
|---|---|---|
| 2023 | 2022 | |
| Lease deposit | 15,351 | 15,251 |
| Gift Aid | 27,431 | 29,119 |
| Total debtors | 42,782 | 44,470 |
5. CREDITORS: Amounts falling due within one year
| 2023 | 2022 | |
|---|---|---|
| Van Finance | 1,564 | 1,549 |
| Accountancy Fee | 2,000 | 2,000 |
| Utilities | 1,200 | 1,200 |
| Total creditors | 4,764 | 4,764 |
6. CREDITORS: Amounts falling due after more than one year
| 2023 | 2022 | |
|---|---|---|
| Van Finance | 15,808 | 17,372 |
| Total creditors | 15,808 | 17,372 |
7. UNRESTRICTED INCOME FUNDS
| At | Net Movement | At | |
|---|---|---|---|
| 1st Sep 2022 | In Funds | 31st Aug 2023 | |
| General Funds | 48,278 | 38,166 | 86,444 |
| At | 48,278 | 15,820 | 64,098 |
9