MELODY TABERNACLE
ACCOUNTS AND TRUSTEES' REPORT
YEAR ENDED 31ST MARCH 2025
COMPANY HOUSE NO: 07424153 CHARITY REGISTRATION NO: 1141363
MELODY TABERNACLE FINANCIAL STATEMENTS YEAR ENDED 31ST MARCH 2025
| CONTENTS | PAGE |
|---|---|
| LEGAL AND ADMINISTRATIVE INFORMATION | 1 |
| REPORT OF THE TRUSTEES | 2-3 |
| INDEPENDENT EXAMINERS REPORT | 4 |
| STATEMENT OF FINANCIAL ACTIVITIES | 5 |
| BALANCE SHEET | 6 |
| NOTES TO THE FINANCIAL STATEMENTS | 7-9 |
| DETAILED STATEMENT OF FINANCIAL ACTIVITIES | 10 |
1
MELODY TABERNACLE LEGAL AND ADMINISTRATIVE INFORMATION YEAR ENDED 31ST MARCH 2025
CHARITY REGISTRATION NUMBER: 1141363 COMPANY HOUSE NO: 07424153 REGISTERED OFFICE: LONDON NW11 8HR TRUSTEES:
113B Golders Green Road, LONDON NW11 8HR
Mr Abiodun Adedeji-Iyiola (Chair)
INDEPENDENT EXAMINER
S&V Bond Accountants The Bridge Nucleus Brunel Way Dartford DA1 5GA
2
MELODY TABERNACLE REPORT OF THE TRUSTEES YEAR ENDED 31ST MARCH 2025
The trustees present their report with the financial statements of the charity for the year ended 31st March 2025. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities' in accordance with the Financial Reporting Standard applicable in the UK and the Republic of Ireland (FRS 102) (effective 1 January 2019).
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
Melody Tabernacle is a charitable company registered on the 1st April 2011 and is controlled by its governing document, a memorandum and articles incorporated on the 29th October 2010.
OBJECTIVES AND ACTIVITIES
Objectives and aims
The objectives which are for the public benefit are set out below:
1 Advancement of religion - to advance the christian religion in the UK or the world as the trustees may consider appropriate.
2 Advancement of education - to advance education with christian principles in the UK or the world as the trustees may consider appropriate.
3 Relief of need, hardship or distress - to relieve people who are in conditions of need, hardship or distress in the UK or the world as the trustees may consider appropriate.
Risk management
The Trustees regularly review the risks the charity may face to introduce procedures to mitigate the risks identified. They recognise the volatile nature of funding and the challenges faced as a result of the economic downturn, cutbacks and emerging new challenges. To manage these risks and to ensure we remain financially stable Melody Tabernacle that it maintains and builds new partnership with key stakeholders and ensures that it builds up its reserves to mitigate future funding decline.
Reserve Policy
The Trustees believes that unrestricted funds which have not been designated for a specific use should be maintained so that in the event of a significant drop in funding, they will be able to continue the Charity's activities and are working towards achieving it.
FINANCIAL REVIEW
In the year to 31 March 2025 the total income was £70290 including the borrowed loan of £34,500 from Anchor Consult Ltd ( Mr Abiodun Adedeji-Iyiola). The net surplus of £4471, accumulated funds were £3770. In the year to 31st March 2024, the total income was £56,392 including the borrowed loan of £17,500 from Anchor Consult Ltd ( Mr Abiodun Adedeji-Iyiola) and £15,000 from (Mrs M Iyiola) and a net surplus of £655, accumulated funds were £3115 . The borrowed funds were used to support pay the premises rent. The Trustees continue to place emphasis on financial management to ensure that the funds within the organisation are properly managed.
Volunteers
Melody Tabernacle has many volunteers that assist the Church in achieving its objectives.
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MELODY TABERNACLE REPORT OF THE TRUSTEES YEAR ENDED 31ST MARCH 2025
STATEMENT OF TRUSTEE RESPONSIBILITIES
The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales, the Charities Act 2011, Charity Regulations 2008 and the provisions of the trust deed requires the trustees to prepare financial statements for each (Accounts and Reports) financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure of the charity for that period. In preparing those financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charity SORP;
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make judgements and estimates that are reasonable and prudent;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charity's Act 2011. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
This report is prepared in accordance with the special provision of Part 15 of the Companies Act 2006 relating to small companies.
Approved and signed by the Chair:
Abiodun Adedeji-Iyiola (Chair)
Date: 30 January 2026
4
REPORT OF THE INDEPENDENT EXAMINER MELODY TABERNACLE YEAR ENDED 31ST MARCH 2025
I report on the accounts for the year ended 31st March 2025 set out on pages five to nine.
Respective responsibilities of trustees and examiner
The Charity's Trustees (who are also the Directors for the purposes of Company Law) are responsible for the preparation of the accounts. The Charity's Trustees consider that an independent examination is required. Having satisfied myself that the charity is not subject to audit under 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 Act
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to follow the procedures laid down in the General Directions given by the Charity Commission (under Section 145(5)(b) of the 2011 Act); and
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to state whether particular matters have come to my attention.
Basis of the independent examiners report
My 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
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
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to keep accounting records in accordance with section 130 of the 2011 Act; and
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to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 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.
S&V Bond Accountants Business and Charity Advisors The Bridge Nucleus Brunel Way Dartford DA1 5GA
Date: 30 January 2026
5
MELODY TABERNACLE STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31ST MARCH 2025
| Unrestricte d funds 2025 INCOMING RESOURCES Notes £ Incoming resources from generated funds Donations and legacies 2 35,790 Other Funds (Anchor Consult Ltd) 34,500 Other Funds (Mr M Iyiola) 0 70,290 RESOURCES EXPENDED Charitable Activities 3 7,828 Support Cost 4 57,491 Governance Cost 5 500 TOTAL RESOURCES EXPENDED 65,819 NET INCOME/EXPENDITURE FOR THE YEAR 4,471 RECONCILIATION OF FUNDS Total Funds brought forward 3,770 TOTAL FUNDS CARRIED FORWARD £8,241 |
2024 £ 23,892 17,500 15,000 |
2024 £ 23,892 17,500 15,000 |
|---|---|---|
| 56,392 | ||
| 4,420 51,317 - 55,737 |
||
| 655 3,115 £3,770 |
655 3,115 |
None of the charity's activities were acquired or discontinued during the year and there were no recognised gains and losses for 2024 or 2025 other than those included in the statement of financial activities.
The notes on pages 7 to 9 form part of these accounts.
6
MELODY TABERNACLE BALANCE SHEET YEAR ENDED 31ST MARCH 2025
| FIXED ASSETS Tangible assets CURRENT ASSETS Cash at bank and in hand CREDITORS: due within one year CREDITORS: due after one year Net Current Assets TOTAL ASSETS LESS CURRENT LIABILITIES FUNDS: Unrestricted Funds Total funds The financial statements were approved and signed by the Chair : |
Notes 10 8 6 |
2025 31,897 8,241 (34,500) (32,500) (58,759) (£26,862) 2025 (26,862) (£26,862) |
2024 38,873 3,770 (32,500) (1,500) (30,230) |
|---|---|---|---|
| £8,643 2024 8,643 £8,643 |
Abiodun Adedeji-Iyiola (Chair)
Dte: 30 January 2026
The notes on pages 7 to 9 form part of these accounts.
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MELODY TABERNACLE NOTES TO THE ACCOUNTS YEAR ENDED 31ST MARCH 2025
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
Melody Tabernacle meets the definition of a public benefit entity under FRS 102.
Incoming resources
All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
Donations and other incoming resources - Income from tithes of the network churches in the forum when these are receivable.
Resources expended
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related 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.
Charitable activities
Costs of charitable activities are those costs relating to the activities carried out to meet the objectives of the Church. These include both directly attributable costs and apportioned support costs.
Governance costs
Governance costs are the costs associated with the strategic direction of the organisation and with meeting regulatory responsibilities including apportioned support cost.
Taxation
The charity is exempt from corporation 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 charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
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MELODY TABERNACLE NOTES TO THE ACCOUNTS YEAR ENDED 31ST MARCH 2025
| 2. VOLUNTARY INCOME Unrestricted funds Donations received Other Funds (Anchor Consult Ltd) Other Funds (Mr M Iyiola) Total incoming resources 3. Costs of charitable activities by fund type Unrestricted funds Charitable Activities Support costs 4. Support Cost (Management Cost) 5. Other costs Governance 6. MOVEMENTS IN FUNDS Unrestricted Funds General fund for the year General fund brought forward Total funds |
Incoming Resources £ £70,290 |
Incoming | Resources Expended £ £65,819 |
2025 2024 £ 35,790 23,892 34,500 17,500 0 15,000 £70,290 £56,392 7,828 4,420 57,491 51,317 65,319 55,737 500 800 Movement in Funds £ £4,471 £3,770 £8,241 |
2025 2024 £ 35,790 23,892 34,500 17,500 0 15,000 £70,290 £56,392 7,828 4,420 57,491 51,317 65,319 55,737 500 800 Movement in Funds £ £4,471 £3,770 £8,241 |
2024 £ 23,892 17,500 15,000 |
|---|---|---|---|---|---|---|
| 4,420 51,317 |
||||||
| 55,737 | ||||||
| 800 | ||||||
7. Debtors
No debtors for the year ended March 2025
8. Creditors
The sum of £34500 borrowed from Anchor Consult Ltd (Mr Abiodun Adedeji-Iyiola)
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9. TRUSTEES REMUNERATION AND BENEFITS
Trustees' expenses
During the year, no Trustee received remuneration as a result of acting in the capacity of a Trustee
10. Tangible fixed assets
| Furnitures & Fittings Computer Equipment Cost or valuation £ £ At 31 March 2024 25,687 13,186 Addition 399 399 26,086 13,585 Depreciation Charge for year 5,137 2637 At 31 March 2025 20,949 10,948 Net book values At 31 March 2024 25,687 13,186 At 31 March 2025 20,949 10,948 |
Total £ 38,873 0 38,873 |
|---|---|
| 7,774 31,099 |
|
| 38,873 | |
| 31,897 |
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MELODY TABERNACLE INCOME AND EXPENDITURE YEAR ENDED 31ST MARCH 2025
| INCOME AND ENDOWNMENT Donations and legacies Donations Received Other Funds (Anchor Consult Ltd) Other Funds (Mrs M Iyiola) Total incoming resources EXPENDITURE: Charitable activities Community Welfare Honorarium Ministry Expenses Church Equipment SUPPORT COSTS: MANAGEMENT Premises Rent Office and Admin Telephone Repairs and maintenance Utilities Council Hospitality GOVERNANCE COSTS Accountancy Fees Legal & Professinal Fee Total resources expended Net Surplus |
2025 £ 35,790 34,500 0 70,290 3,275 1,575 2,579 399 7,828 50,250 485 735 1785 1,650 399 2,187 £57,491 500 65,819 £4,471 |
2024 £ 23,892 17,500 15,000 56,392 2,066 1,000 1,354 0 4,420 47,674 150 550 1,500 1,443 - - £51,317 |
2024 £ 23,892 17,500 15,000 |
2024 £ 23,892 17,500 15,000 |
|---|---|---|---|---|
| 56,392 | ||||
| 2,066 1,000 1,354 0 4,420 |
||||
| - - 55,737 |
||||
| £655 |