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2023-03-31-accounts

DIVINE DESTINY PARISH CELESTIAL CHURCH OF CHRIST

Company Reg no: 07192023 Charity Reg. No: 1142031

DIRECTORS REPORT AND FINANCIAL STATEMENT FOR THE YEAR ENDED 31 MARCH 2023

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DIVINE DESTINY PARISH CELESTIAL CHURCH OF CHRIST

DIRECTORS REPORT AND

FINANCIALSTATEMENTS FOR THE PERIOD ENDED 31st MARCH 2023

CONTENTS PAGE
Reference and administrative details 2
Directors' report 3-6
Independent Examiner's report 7
Statement of Income & Expenditure 8
Balance sheet 9
Notes to the accounts 10- 13

Page 2

DIVINE DESTINY PARISH CELESTIAL CHURCH OF CHRIST

REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS DIRECTORS AND ADVISERS FOR THE YEAR ENDED 31st MARCH 2023

Directors

  1. PROPHET O. SONUBI

  2. MS L. RODRIGUES

  3. MR M. SIWONIKU

  4. MS E. TEMOWO

  5. MRS E. OYETAN

  6. MRS A. ANIBABA

Company Secretary OLAWALE ESEKU

Registered Company number 07192023 (England and Wales)

Registered Charity number 1142031

Registered office

23-25 Peckham High Road London SE15 5EB

Independent Examiner Olasunkanmi Onanuga. M.Sc., FFA FCA JAccend Accountants 138 Betterton Road Rainham, London. RM13 8NH

Banker Lloyds Bank Plc 25 Gresham Street London. EC2V 7IN

Page 3

DIVINE DESTINY PARISH CELESTIAL CHURCH OF CHRIST DIRECTORS' REPORT

FOR PERIOD ENDING 31 MARCH 2023

The Directors submit their report and financial statement for Divine Destiny Parish, Celestial Church of Christ (The Charity) for the year ended 31 March 2023. The Directors confirm that the directors' report and financial statements of the company comply with current statutory requirements of the company's governing document and the provisions of Companies Act 2006.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Divine Destiny Parish, Celestial Church Christ is incorporated in England and Wales as a charitable company. The Company is limited by guarantee with company registration number is 07192023. It is registered with the Charity Commission as a charity in England and Wales and the registration number is 1142031.

APPOI NTMENT 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 chair and other Directors, followed by short meetings with the Senior Shepherd on the powers and responsibilities of the Directors.

ORGANISATIONAL STRUCTURE AND DECISION MAKING

The charity is organised 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 Directors have assessed the major risks to which the charity is exposed, in particular those related to operations and finances of the charity and are satisfied that systems are in place to mitigate our exposures to major risks.

OBJECTIVES AND ACTIVITIES

The principal object is the advancement of Christian faith in accordance with the statement of beliefs of Divine Destiny Parish, Celestial Church of Christ, and the relief of poverty.

Page 4

DIVINE DESTINY PARISH CELESTIAL CHURCH OF CHRIST DIRECTORS' REPORT

FOR PERIOD ENDING 31 MARCH 2023

To achieve its objectives, the church adopted the following strategies: Running Sunday worship services and midweek bible study, Supporting other charities and Christian events.

PUBLIC BENEFITS

The Church's Sunday and mid-week services are open to the public to build on their Christian faith. Apart from its Church activities, the charity was involved in the following public benefit efforts •

Our efforts are geared towards supporting the programme of our local community, promoting cohesion in our community, and impacting the lives of the young people and the elderly.

GRANT MAKING POLICY

The church supports visiting ministers of the gospel both within and outside the United Kingdom. Support is also given to Celestial Church Headquarter in the UK and other World Evangelism Mission. The Church supports other charities and missionary that shares its objects in the advancement of Christian faith and relief of poverty. The church gives occasional welfare grants to congregational members who are in need.

VOLUNTEERS

The church is grateful for the unstinting efforts of its volunteers who are involved in providing services for the charity. It is estimated that over 1000 hours are provided by volunteers during the year. If this is conservatively valued at £10.50 per hour, the volunteers' effort will amount to over £10,500.00.

REVIEW OF ACTIVITIES

The church continues to enjoy tremendous growth in its physical and spiritual life during the year, and in the advancement of Christian faith in accordance with the doctrines set out in the Statement of faith contained in our constitution.

RESERVES POLICY

The trustees' policy is to have unrestricted and uncommitted funds (free reserves) to cover 3 to 6 months of resources expended. They feel that this would enable the current activities to continue if 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 present free reserve is below the policy range, but the trustees are continuing to seek additional funds for the reserves.

Page 5

DIVINE DESTINY PARISH CELESTIAL CHURCH OF CHRIST DIRECTORS' REPORT

FOR PERIOD ENDING 31 MARCH 2023

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 continue to develop its members to make life-changing impact in the community.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The Trustees are responsible for preparing the annual report and financial statements in accordance with applicable laws and regulations.

Company law requires the Directors to prepare financial statements for each financial year. Under that law, the Directors have elected to prepare the financial statements in accordance with the United Kingdom Generally Acceptable Accounting Practice (United Kingdom Accounting Standards and applicable law). The financial statements are required to give a true and fair view of the state of affairs of the charity and of the surplus or deficit of the charity for that period. In preparing the financial statements, the Directors are required to:

The Directors recognise their responsibilities to keep proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence taking steps for the prevention and detection of fraud and other irregularities.

Page 6

DIVINE DESTINY PARISH CELESTIAL CHURCH OF CHRIST DIRECTORS' REPORT

The appended financial 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 20 of July 2023 and signed on their behalf by:

Senior Shepherd

Oyeyemi Onaolapo SONUBI

Director

Page 7

DIVINE DESTINY PARISH CELESTIAL CHURCH OF CHRIST

INDEPENDENT EXAMINERS REPORT FOR YEAR ENDED 31 MARCH 2023

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 2023 which is set on pages8- 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 audit 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 i n the general Directions given by the C h arity Commissioners (under section 145(5)(b) of the 2011 Act: and state whether 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 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.

EXAMINERS 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:

(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Sunkanmi Onanuga M.Sc., FFA, FCA

J Accend Accountants

Page 8

DIVINE DESTINY PARISH CELESTIAL CHURCH OF CHRIST

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023

INCOME Notes £ £
2023 2022
Donations and Grants 2 37,264 63,503
EXPENDITURE Notes £ £
2023 2022
Charitable Activities 3 (50,592) (31,706)
NET (13,328) 31797
INCOM/EXPENDITURE
RECONCILIATION
OF FUNDS
Total funds brought 31,797
 7,655
forward
Depreciation 10,000
TOTAL FUNDS CARRIED FORWARD OF 28,469
39,452
FUNDS

Page 9

DIVINE DESTINY PARISH CELESTIAL CHURCH OF CHRIST

BALANCE SHEET AS AT 31 MARCH 2023

BALANCE SHEET
AS AT 31 MARCH 2023
Notes £ £
2023 2022
FIXED ASSETS 5 0.00 5.00
Tangible assets
Current Assets 28,469 39,452
Cash at bank
Creditors 6 (600) (3,571)
Amounts falling due within
one year
NET CURRENT ASSETS 27,869 40,881
TOTAL
ASSETS		 LESS 27,869 40,881
CURRENT LIABILITIES
NET ASSETS 27,869 40,881
FINANCED
BY:		 Charity 27,869 40,881
Funds
Unrestricted funds

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for:

These financial statements have been prepared in accordance with the provisions applicable to charitable companies' subject to the small company's regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 20 of July 2023 and were signed on its behalf by:

Senior Shepherd Oyeyemi Onaolapo SONUBI Director

Page 10

DIVINE DESTINY PARISH CELESTIAL CHURCH OF CHRIST

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2023

1. ACCOUNTI NG POLICIES

(1.1) Basis of preparation of financial statements

These 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 statements have been prepared with Statement of Recommended Practice (SORP), "Accounting and Reporting by Charities published in March 2005 and applicable accounting standards.

1.2. Incoming Resources

All incoming resources are included in the statement of financial activities when the charity is legally entitled to the income and the amount can be reasonably quantified with reasonable accuracy.

(1.3) Resources expended.

All expenditures are accounted for on an accrual basis. Management and governance costs are cost incurred in connection with administration and compliance with statutory requirement.

(1.4) Tangible fixed assets

Depreciation is provided at the following annual rates to write off each asset over the estimated useful life.

Plant and machinery 20% reducing balance.

Fixtures and fittings 20% on reducing balance.

(1.5) Taxation

The charity is exempt from corporation tax on its charitable activities.

(1.6) 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 restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Page 11

CELESTIAL CHURCH OF GOD DIVINE DESTINY

NOTES TO THE ACCOUNTS

THE

ENDED 31[ST] MARCH 2023

Note £ £
2023 2022
Funds 2
Members’ donations
Planned giving 30,698 19,465
Grant received 6,566 44,038
Total 37,264 63,503
3. Grants payable-Institutional.
Charitable giving -UK 3 3,800 2,100
NETNCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
Depreciation - owned assets 5,000 2,500

4. NETNCOME/(EXPENDITURE)

5. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits exceeding £60,000.00 per annum for the year ended 31 March 2023 nor for the year ended 31 March 2022.

6. RELATED PARTY TRANSACTIONS

During the year, the church paid institutional grant to Celestial Church of Christ Worldwide Head office in UK for World Evangelical mission and other charitable purpose.

7. COST OF CHARITABLE ACTIVITIES

£ £ 2023 2022 Wages 6,550 Rent and rates 13,670 12,000

Page 12

CELESTIAL CHURCH OF GOD DIVINE DESTINY

NOTES TO THE ACCOUNTS

Repair and renovation 5,579 1,500
Services Charges 102
Postage and stationery 0.0
Sundries 452
150
Travelling 5,948 5,450
Welfare 800 3,900
Evangelical 0.0 2,100
Annual harvest 9,810
0.00
Total 42,911 25,100

OVERNANCE COSTS
£ £
2023 2022
Accountancy and legal fees 600 7,105
Bank Charges 281 92
Trustees Meeting 500 0.0
Total 44,292 32,297
Closing Bank Balance 28,469 39,452

8. GOVERNANCE COSTS

9.

Page 13

CELESTIAL CHURCH OF GOD DIVINE DESTINY

NOTES TO THE ACCOUNTS

10. TANGIBLE FIXED ASSETS

11. Musical
Computer
Furniture
COST
Totals
Equipment
& Projector & fittings
At 1 April 2022 and 31 March 2023
DEPRECIATION
6.000
1.500
2.500
10.000
At 1 April 2022
3,000
750
1 ,250
5,000
Chargefor year
3,000
750
1 ,250
5,000
At 31 March 2023
NET BOOKVALUE
At 31 March 2023
0.00
0.00
0.00
0.00
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023
2022
Accrued Accountancy fee
600
3,571

Page 14