Registered company's number 06513689 England and Wales
Financial Statements for the year ending
28 February 2026
For
GLORIOUS PEOPLES' CHAPEL
Charity Commission - 1140897
GLORIOUS PEOPLES' CHAPEL
Contents of the Financial Statements
For the year ended 28 February 2026
| Page | |
|---|---|
| Company information | 1 |
| Directors' report | 2 |
| Statement of directors' responsibilities | 3 |
| Accountants' report | 4 |
| Statement of Financial Activities | 5 |
| Statement of Financial Position | 6 |
| Notes to the Statement of Financial Activities | 7 |
GLORIOUS PEOPLES' CHAPEL Company Information
Directors
Dr. Ademola Moses OLAIYA Dr. Joyce OLAIYA JANEVE NESBETH Mrs MADALENA NGONGOLA
Accountants
High Glory Associates Suite 1, London House Thames Road Slade Green Dartford DA1 4SL
Registered office GLORIOUS PEOPLES' CHAPEL
42 Trinity Road Aston Birmingham B6 6AL
Registered number 06513689
Charity Commission - 1140897
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GLORIOUS PEOPLES' CHAPEL
The Report of the Trustees
For the year ended 28 February 2026
The trustees who are also directors of the charity for the purpose of the Companies Acts 2006, present their report with the financial statements of the charity for the year ended 28 February 2026. The trustees have adopted the provisions of the statement of Recommended Practice (SORP) Accounting and Reporting by Charities', the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) effective 1 January 2015.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, deed of trust, and consitutes a limited company, limited by guarantee, as defined by the Companies Acts 2006.
Directors
The following persons served as directors during the year:
Dr. Ademola Moses OLAIYA Dr. Joyce OLAIYA JANEVE NESBETH Mrs MADALENA NGONGOLA
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 fruad and error.
The trustees have identified the major strategic risk to which the charity is exposed to and have establised control action to mitigate them. Each year, risk assessment is carried out and are subject to continual review and appropriate monitoring.
Directors' responsibilities
The directors are responsible for preparing the report and accounts in accordance with applicable law and regulations.
Company law requires the directors to prepare accounts for each financial year. Under that law the directors have elected to prepare the accounts in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the accounts unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these accounts, the directors are required to:
-
select suitable accounting policies and then apply them consistently;
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make judgements and estimates that are reasonable and prudent;
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prepare the accounts on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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GLORIOUS PEOPLES' CHAPEL
The Report of the Trustees
For the year ended 28 February 2026
Disclosure of information to auditors
Each person who was a director at the time this report was approved confirms that:
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so far as he is aware, there is no relevant audit information of which the company's auditor is unaware; and
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he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditor is aware of that information.
The Trustees take all appropriate steps to moderate and manage the inevitable operational risks to which members, volunteers staff and assets of the charity are exposed.
Competence based training for volunteers, and monitoring of new legislative requirements are example of steps taken.
Procedures for children and vulnerable adults protection and for health and safety risks are in place. Furthermore a risk register is to be established and updated annually.
This report was approved by the board on 28 May 2026 and signed by its order.
Dr. Joyce OLAIYA Trustee
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GLORIOUS PEOPLES' CHAPEL
Statement of Directors' Responsibilities
The directors are responsible for preparing the report and accounts in accordance with applicable law and regulations.
Company law requires the directors to prepare accounts for each financial year. Under that law the directors have elected to prepare the accounts in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the accounts unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these accounts, the directors are required to:
-
select suitable accounting policies and then apply them consistently;
-
make judgements and estimates that are reasonable and prudent;
-
prepare the accounts on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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GLORIOUS PEOPLES' CHAPEL
Accountants' Report
Report to the trustees on the independent examination of Glorious Peoples Chapel Limited financial statements for the year ended 28 February 2026.
Respective responsibilities of trustees and examiner
The trustees (Who are also the directors for the purposes of company law) are responsible for the preparation of the accounts. It is your duty to ensure that Glorious Peoples' Chapel has kept adequate accounting records and prepare statutory accounts that give a true and fair view of the assets, liabilities, and financial position of Glorious Peoples' Chapel. The charity's trustees consider that an audit is not required for this year (under Section 144(2) of the Charities Acts 2011 and that an independent examination is required.
Having satisfied myself that the charity is not subject to audit under the company law and is eligible for independent examination, it is my responsibility to :
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examine the accounts under Section 145 of the 2011 Acts
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to follow the procedures laid down in the General Direction given by the Charity Commission (under Section 145(5)(b) of the 2011 Acts; and
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to state whether particular matters have come to my attention.
Basis of the independent examinater's report
We have not been instructed to carry out an audit but a review of the accounts of Glorious Peoples Chapel. Our examination was carried out in accordance with the 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 you as 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 set out in the statements below.
Independent examiner's statement
In connection with our examination, no matter has come to our attention:
1) which give reasonable cause to believe that, in a
- to keep accounting records in accordance with section 386 and 387 of the Companies Act 2006 and - to prepare accounts which accord with the accounting records, comply with the accounting requirements of Section 394 and 395 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities 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.
High Glory Associates
Accountants
Suite 1, London House Thames Road Slade Green Dartford DA1 4SL
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GLORIOUS PEOPLES' CHAPEL
Statement of Financial Activities For the year ended 28 February 2026
| Notes Incoming Resources Incoming resources from generated funds Activities Governance costs Total resources expended Net incoming/(outgoing) Resources Reconciliation of funds Net incoming/(outgoing) Resources 3 Net fund brought forward Total funds carried forward |
2026 2025 £ 48,516 47,036 (18,560) 14,495 - (22,552) 21,817 - (41,112) 36,312 - 7,404 10,724 7,404 10,724 22,064 11,340 29,468 22,064 |
|---|---|
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GLORIOUS PEOPLES' CHAPEL
STATEMENT OF FINANCIAL POSITION As At 28 February 2026
| Notes | 2026 | 2025 | |||
|---|---|---|---|---|---|
| £ | |||||
| Fixed assets | |||||
| Tangible assets | 4 | 2 | 2 | ||
| 2 | 2 | ||||
| Current assets | |||||
| Cash at bank and in hand | 30,018 | 22,514.00 | |||
| 30,018 | 22,514.00 | ||||
| Creditors: amounts falling due | |||||
| within one year | 6 | (550) | - | 450.00 |
|
| Net current assets | 29,468 | 22,064.00 | |||
| Total assets less current | |||||
| liabilities | 29,468 | 22,064.00 | |||
| Net assets | 29,468 | 22,064.00 | |||
| Funds | |||||
| Unrestricted funds | 7 | 29,468 | 22,064.00 | ||
| Net funds | 29,468 | 22,064.00 |
The Trustees or directors are satisfied that the charity is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the charitable company to obtain an audit in accordance with section 476 of the Act.
The trustees acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
And preparing the financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirement of the Companies Act 2006 relating to financial statements, so far as applicable to the charity.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act The financial statements were approved by the Board of Trustees on 28 may 2025 and were signed on its behalf by:
Dr. Joyce OLAIYA Director Approved by the board on 28 May 2026
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GLORIOUS PEOPLES' CHAPEL
Statement of Financial Activities For the year ended 28 February 2026
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Plant and machinery 20% straight line Motor vehicles 25% straight line
2 Taxation
The charity is exempt from corporation tax on its charitable activities.
Restricted funds can only be used for the particular restricted purposes with the objects of the charity. Restrictions arise when specified by the donor or when funds is included in the notes to the financial statements
3 Net incoming/(outgoing) Resources
2026 2025 £
This is stated after charging:
Depreciation of owned fixed assets
Trustees' remuneration and benefits
There were no trustees' remuneration or financial benefits during the year ended 28 February 2026 and 28 February 2025.
Trustees' expenses.
There were no trustees' expenses paid for during the year ended 28 February 2026 and 28 February 2025.
- 4 Tangible fixed assets
Cost At 1 Mar 2025 Additions At 28 February 2026 Depreciation At 1 Mar 2025 Charge for the year At 28 February 2026 Net book value At 28 February 2026 At 28 February 2025 |
Land and buildings £ - - - - - - - - |
Plant and machinery etc £ 908 908 (907) (907) 1 1 |
Motor vehicles Total £ £ 6,095 7,003 6,095 7,003 (6,094) (7,001) (6,094) (7,001) 1 2 1 2 |
|---|---|---|---|
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GLORIOUS PEOPLES' CHAPEL
Statement of Financial Activities
For the year ended 28 February 2026
| 6 Creditors: amounts falling due within one year Other creditors 7 Movement in funds As at 01/03/2025 £ Unrestricted fund General fund 22,064 Net movement in funds, included in the above are as follows: £ Unrestricted fund General fund 48,516 Total funds 48,516 Incoming resources |
2026 550 550 £ 7,404 £ (41,112) (41,112) Net Movement in Resources expended |
2025 £ 450 |
|---|---|---|
| 450 | ||
| As at 28/02/2026 £ 29,468 |
||
| £ 7,404 Movement in fund |
||
| 7,404 |
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GLORIOUS PEOPLES' CHAPEL
Statement of Financial Activities
For the year ended 28 February 2026
| Incoming Resources Donations - Unrestricted fund Resources expended Charitable activities Volunteer Hire of hall Welfare Governance costs Travels and Subsistence Motor expenses Light and heat Telephone Stationery and printing Charity given Bank charges Insurance Equipment expenses Repairs and maintenance Depreciation Sundry expenses Accountancy fees |
2026 2025 £ 48,516 47,036 48,516 47,036 8,474 6,632 4,666 2,855 4,800 4,136 620 872 18,560 14,495 2,171 1,682 5,139 5,184 516 28 1,269 1,309 389 95 3,967 4,173 12 1 1,092 1,556 2,387 2,396 2,090 4,500 2,665 443 855 450 22,552.00 21,817.00 |
|---|---|
7,404
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