## 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 I Page 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: - Select suitable accounting policies and the apply them consistently. - Make judgement and estimates that are reasonable and prudent. - Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in operation. 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: - proper accounting records are not kept in accordance with 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 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: - (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and - (b) preparing 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 requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. 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