DIVINE DESTINY PARISH CELESTIAL CHURCH OF CHRIST Company Reg no: 07192023 Charity Rgg. No.. 1142031 DIRECTORS REPORT AND FINANCIAL STATEMENT FOR THE YEAR ENDED 31 MARCH 2021 Page I
DIVINE DESTINY PARISH CELESTIAL CHURCH OF CHRIST DIRECTORS REPORT AND FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31*1 MARCH 2021 CONTENTS PAGE R6ferenc8 and administrative details Directors report Independent Examinerfs report Statement of Income & Exp8ndlture Balance sheet Notes to the accounts Page 2
DIVINE DESTINY PARISH CELESTIAL CHURCH OF CHRIST REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS DIRECTORS AND ADVISERS FOR THE YEAR ENDED 31 ST MARCH 2021 Directors Pastor O Sonubi Ms L Rodrigues M O Siwoniku MsMAro Ms E Temowo Mrs B E Oyetan Company Secrntary Olawale Eseku Roglsterod Company number 07192023 (England and Wales) Roglstered Charlty number 1142031 Reglstered offlce 23-25 Peckham High Road London SE15 SEB Independent Examlnèr Olasunkanml Onanuga M.Sc.. AFA. J Accend Accountants 26 Winifred Street London. E16 2HX Banker Lloyds Bank plc 25 Gresham Street London. EC2V 7HN Page 3
DIVINE DESTINY PARISH CELESTIAL CHURCH OF CHRIST DIRECTORS, REPORT FOR PERIOD ENDING 31 MARCH 2021 The Directors submit their report and financial statement for Divine Destiny Parish, Celestial Church of Christ (The Charity) for the year ended 31 March 2021. The Directors Confirm that the directors, report and financial statements of the company comply with current statutory requirements of th8 company's governing document and the provisions of Companles Act 2006. STRUCTURE, GOVERNANCE AND MANAGEMENT Divine Destiny Parish, C81estial Church Christ is incorporated In England and Wales as a charitable company. Th6 Company is limited by guarantee with company ragistralion number is 07192023. It is registered with the Charlty Commission as a charlty in Enyland and Wales and the registration number is 1142031. APPOINTMENT OR ELECTION OF DIRECTORS Directors are appointed and or co-opted under the terms of the constitution. POLICIES ADOPTED FOR THE INDUCTION AND TRAINING OF NEW TRUSTEES The induction process for a newly appointed Director comprises of an initial meeting with the ¢hair and other Directors, followed by short meetlngs wilh the Senior Shepherd on the powers and responsibilities of the DlreGtors. ORGANISATIONAL STRUCTURE AND DECISION MAKING The charity is organlsed so that the Directors meet regularly to manage its affairs. The parish pastor manages the day to day administration of the church. RELATED PARTY TRANSACTION Divine Destiny Parish is a parish of Celestial Church of God Worldwide which has parishes all over the world. RISK MANAGEMENT The Direclors have assessed the major risks to which the Charity is exposed, In particular those related to Operations and finan$ of the charity, and are satlsfled that systems are in place to mltlgate our exposures to major rlsks. OBJECTIVES AND ACTIVITIES The prlncipal object is the advancement of Christian faith in accordance with the statement of beliefs of Dlvine Destiny Parish, Celestial Church of Christ. and the relief of povety. To achieve its objectives, the church adopted the following strategies.. Runnlng Sunday worship services and midweek bible Study, Supporting other charitles and Christian events. Pag¢ 4
DIVINE DESTINY PARISH CELESTIAL CHURCH OF CHRIST DIRECTORS. REPORT FOR PERIOD ENDING 31 MARCH 2021 PUBLIC BENEFITS The Church's Sunday and mid-week services are op8n to the general public to build on their Christlan faith. Apart from its Church activities, the charity was involved in th8 following public benefit efforts.. Had retreats for different natural groups., Chlldren, Teenagers. Youth and Couples to promote good family values and responsible people. Holding outreaches and social action actlvlties in areas of int&r8St to our community. During the year, the Charity distributed relief materials in the community to reduce the Impact of the government lockdown order during th8 Covid-19 pandemSc Our efforts are geared towards supportlng the programmes of our local community, promoting cohesion in our community, and impacling the lives of the young people and the elderly. GRANT MAKING POLICY The church supports vlsltlng ministers of the gospel both withln and outside the Unlted Kingdom. Support is also given to Celestial Church Headquarter in the UK and other World Evangellsm Mlsslon. The Church supports other charities and missionary that shares Its objects in the advancement of Christian faith and relief of povety. The church gives occasional welfare grants to congregational members who are in need. VOLUNTEERS Th8 church Is grateful for the unstlntlng efforts of its volunteers who are involved in providing services for the charity. It is 8stimated that over 1000 hours are providèd by volunteers during the year. If this is conservatively valued at £9.50 per hour, the volunteers, effort will amount to over £9,500.00 REVIEW OF ACTIVITIES The church continues to enjoy tremendous growth in its physical and spiritual lrfe during the year, and in Ihe advancem8nt of Christian faith in accordance with the doctrlnes set out in the Statement of faith contained in our constitution. RESERVES POLICY The tru5tees' policy Is to have unr8Stricted and uncommitted funds {fr&8 reserves> to cover 3 to 6 months of resources expended. They feel that this would enable the current actlvities to Continue rf there is any significant drop in funding. It would obviously be necessary then to consider how the funding would be replaced or activities changed. The presenl free reserve is below the policy range but the twstees are continuing to seek additional funds for the reseNes. Pag¢ 5
DIVINE DESTINY PARISH CELESTIAL CHURCH OF CHRIST DIRECTORS. REPORT FOR PERIOD ENDING 31 MARCH 2021 PRINCIPAL FUNDING Funding has been provided mainly through tithes and offerings by church members and through donations. Pledges are also taken for specific projects. FUTURE DEVELOPMENTS The charity continues to explore various ways of spreading the gospel of Christ in an effective manner. The charity is also looking to grow in membership and contlnue to develop its members to make life-changing impact in the community. STATEMENT OF DIRECTORS. RESPONSIBILITIES The Trust88s are SPonsIble for preparing the annual report and flnanclal statements in accordance with applicable lavfis and regulations. Company law requlres the Directors to prepare financial statements for each financial year. Under that law, the Directors have elecled to prepar8 th8 financlal statements in accordance wlth the United Kingdom Generally Acc8Ptable Accountlng Practlce {Unlted Klngdom Accountlng Standards and applicable law). The financial statements are required to give a tru8 and fair view of th8 State of affairs of the charity and of the surplus or deficit of the charity for that period. In preparing the flnancial statements, the Dlrectors are required to: Select sultable accountlng policies and the apply them ¢on8lStently' Make Judgement and estlmates that ar8 reasonable and prudent; Prepare th8 financial statements on the going ¢oncem basls unless it is Inappropriate to presume that the company will contlnue In operation. The Dlrectors recognlse thelr responslbllltles to keep proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and ewiable them to ensur8 that the financial statements comply with the Companles Act 2006. They are also responsible for safeguarding the assets of the company and hence taking steps for the prevention and detectlon of fraud and other irregularities. The appended flnancl81 statements have been prepared on the accruals basis and have been examined by an Independent examiner, whose report is also appended. Approved by the Directors on .1.2.. of ...oq... 2021 and signed on their behalf by: Senior Shepherd O Sonubi Director Pagr 6
DIVINE DESTINY PARISH CELESTIAL CHURCH OF CHRIST INDEPENDENT EXAMINERS REPORT FOR YEAR ENDED 31 MARCH 2021 TO THE DIRECTORS OF DIVINE DESTINY PARISH, OF CELESTIAL CHURCH OF CHRIST I report on the accounts of the charity for the period ended 31 March 2021 which is sel on pages 8-12 RESPECTIVE RESPONSIBILITIES OF THE TRSUTEES AND THE EXAMINER The charity Directors are responsible for the preparation of the accounts. The Charity's trustees consider than an audrt is not required for the period under section 476 of the Companies Act 2006 and that an independent examination is needed. It is my responsibility to: examine the accounts under section145 of Charities Act 2011. follow the procedures laid down in the general Direction8 given by the Charity Commissioners (under section 145(5)(b) of the 2011 Act,. and 8t8te whether particular matters have come to my attention. BASIS OF MY EXAMINATION 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 accounts presented with those records. It also includes consideration of any unusual items or disclosures in the account, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not providè 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 fairf, view and the report is limited to those rnatters set out in the statements below. 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 trustees have not met the requirements to ensure that.. proper accounting records are not kepl in accordance wrth the companies Act. and accounts are prepared which agree with the accounting records and comply with the accounting requirements of the Companies Act 2006,. or (2) to which, in my opinion, attention should be drawn in order to enable a proper de nding of the accounts to be reached. Sunkanmi nu M.Sc.. IFANPA 15th of Sept 2021 J Accend Accountants Page 7
DIVINE DESTINY PARISH CELESTIAL CHURCH OF CHRIST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021 2021 2020 Unrestricted Total fund funds INCOME RECEIVED Notes Donations and Grant 32,663 36,195 EXPENDITURE ON Charltable actlvltlas Charitable Actlvities 27,317 46.917 NET INCOMEI(EXPENDITURE) (10.722) 5,346 RECONCILIATION OF FUNDS Total funds brought forward 2309 13,031 TOTAL FUNDS CARRIED FORWARD Page 8
DIVINE DESTINY PARISH CELESTIAL CHURCH OF CHRIST BALANCE SHEET AS AT 31 MARCH 2021 2021 2020 Total Unrestricted fund funds Not8S FIXED ASSETS Tangible assets 7,500 10.000 CURRENT ASSETS Cash at bank 7,655 2,309 CREDITORS Amounts falling due within one year 13,5001 {7501 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES 11,655 11,599 NET ASSETS 11,699 FINANCED BY: CHARITY FUND Unrestricted funds Th• ¢horh•b ecmp•fiy li •ntftd to wmptlon from audtt und•r S•ctlon 477 ol th? Comwnkn• Act 2Q06 lor th• y•4r •nd•d 31 Marth 2021. Th• m•mb•rn ha¥0 nOtrequlrndth•¢pjnyt0Obt11n an 4udftofttifinanclal it4t•m•nl• forth•y••r•nd•d 31 M4rch 2021 In •w¢rdanc• wlth Sedon 476 oltha Ccmp•nt•• A¢1 2008. The tru•t•es acknowledge th8lr r8Bpon8lbllltkryi for. ensurfng that th• ¢hiiitibl8 cornpany ke8p$ o¢counn0 fèeerdj that COMpty1h Sedon$ 3e8 And 387 of tho Ccmp8nl85 Act 20Cé and prepAring finanelil 8tst8m8Trts thl¢h gfve a tw• And fsir viow of the stats ol aff8irs ol thè chgritBblo ccrnpany as at the and ef eoch financial year 8nd of rts surplu& ordeficrt for 08ch financk91 year In accord#nc• with th8 requlr8menl8 of S8¢tlon$ 394 and 39S and whlch Othe$0 ¢pIY ith the requlr•ments of th• ¢ompankns Act 2008 r•laiing lo financl41 $tolements, 80f8r a# appllcBble to tha chat•b9 ccfnpany. (a) (b) Thos•financlal &taiomnts hav• t••n w•par•d In accordancewSthth• pMvl•loni applkBblatocharttsbb c4Jnpankn•' subioctto Ih•amall cornpany's reglmo, Th• finandal 8iat•rMnts r •ppra%d by lh• Board ofTrusteeB and 4uthorf••d f¢rth•u• on 26 May 2020 and wgre $iqno(l on rt• beh l¢ Sh•PT O Sonu1 - Dlr•¢tor Page 9
DIVINE DESTINY PARISH CELESTIAL CHURCH OF CHRIST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2021 1. ACCOUNTING POLICIES (1.1) Basis of preparation of flnan¢lal statements Thes8 accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008). The financial ststements have been prepared with Statement of Recommended Practice (SORP), "Accounting and R8POrting by Charities published in March 2005 and applicable accounting standards. (1,2) Incoming resources All incoming resources a Included in the statement of flnan¢lal actlvltles when the charity Is legally entitled to the Income and the amount can be reasonably quantified wilh reasonable accuracy. {1.3) Resourc8s expended All expenditures are accounted for on an accrual basis. Management and governance costs are cost Incurred In connectlon with administratlon and compliance with statutory requirement. (1.4) Tangible fixed assets Depreciation is provided at the followlng annual rates In order to wrlte off each asset over its estimated useful life. Plant and ma¢hlnery- 200h reducing balance 20% on reducing balance on Fixtures and flttlngs (1.5) Taxatlon Th8 charity Is exempt from corporatlon tax on its charltable actlvltles. (1.6) Fund Acwunting Unrestricted funds can be used in accordance wlth the charitable objectlves at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes wlthln the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purpos8S. Further explanab'on of the nature and purpose of 8a¢h fund is Included in the notes to the financial statements. Pa8e 10
DIVINE DESTINY PARISH CELESTIAL CHURCH OF CHRIST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2021 Unre8lricled Re8trfcted Total Funds Funds Funds Totsl Funds 2021 2021 2021 2020 DONATIONS. LEGACIES AND SIMILAR INCOME Plannod glvlng 36.192 Gr*nt r•colv•d 12,673 12.673 3. Grants paYalO- In8tllLrtlonal Charbtsbl8 glvlng-UK 2.200 2,2¢)0 4. NET INCOMW{EXPENDITUREI Not Incomo1(exp8ndllur•l18 8tated 8fter chargingllcrod115ngl.. 2021 2020 Doprgclallon - owned 8880t# . TRUSTEES. REMUNERATION AND BENEFITS There were no tnJ8189s' rgmuneration or other bgnefits for the year ended 31 March 2021 nor for the year end8d 31 March 2010. 6. RELATED PARTY TRANSACTIONS During thè year, the church Paid in$tutIonal grant to Colesllal Church of Chrl$t Worfdwide Head office In UK for World Evanggllcal mission and other chailtabl8 wrposg. Pagell
DIVINE DESTINY PARISH CELESTIAL CHURCH OF CHRIST NOTES TO THE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2021 2021 2020 Collections and Grant 7. COST OF CHARITA8LE ACTIVITIES Wag98 Rent and ratss Insuranc Llghl and heat To19phone Po$tage and 8tatlonery Sundrtes Travalllng Welfar& Covld-19 Relief Donations 11.552 13.052 1,269 1,285 203 257 86 201 2,360 962 12.000 6.000 2.200 Evangèllc41 Pastoral Choir Sunday School Sundry Equlpment Splrhual Malerfo18 Rapair$ and Renèwal8 Cl8anlng 303 800 588 1.285 512 1.512 325 6,060 26,280 36,648 8. GOVERNANCE COSTS Accountancy and legal foe8 Bank Charg88 Improvem8nt8 to property Plant and machlnery FIxre$ and flttlngs 1.LN)O 57 750 298 7,903 307 87 Totsl resourcgs expended 503 g. CASH BALANCES Pag¢ 12
DIVINE DESTINY PARISH CELESTIAL CHURCH OF CHRIST NOTES TO THE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2021 10.TANGIBLE FIXED ASSETS Musical Computer Equipment Fumltur8 & Projector & ttn Tot818 COST At 1 Aprll 2020 and 31 March 2021 DEPRECIATION Al 1 AprS12020 Charge for year 6,000 1.500 1,500 375 2.500 625 10,000 2.500 Al 31 M8rch 2021 NET BOOK VALUE Al 31 M8rch 2021 11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2021 2020 ArUe Accountancy fee 750 500 crued rgnt 760 3,500 Pag¢ 13