Divine Exchange Christian Centre Registered Charity Number: 1144013 Accounts
30 September 2024
## **Divine Exchange Christian Centre Contents**
||**Page**|
|---|---|
|Charity information|1|
|Trustees' report|2 to 3|
|Accountants' report|4|
|Statement of financial activities|5|
|Balance sheet|6|
|Notes to the accounts|7 to 9|
## **Divine Exchange Christian Centre Charity Information**
## **Trustees**
Kelechi Ngozi Chukueke Anna Edevbie Oghenetega Akpowan
## **Accountants**
Ferndale Accountants Ltd Suite 1 15 Salem Street Bradford West Yorkshire BD1 4QH
## **Bankers**
Barclays plc
## **Charity address**
25-27 Sheepscar Street South Leeds West Yorkshire LS7 1AD
1
**Divine Exchange Christian Centre**
## **TRUSTEES' REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2024**
The trustees present their report and the financial statements for the year from 01 October 2023 to 30 September 2024.
Divine Exchange Christian Centre is a registered charity and is governed by a trust deed. The Pastoral work of the church is managed and coordinated by Pastorl Ovie.
## **Trustees**
The trustees named on page 1 have served throughout the year except where stated The overall management of the charity is the responsibility of the trustees who are elected and co-opted under the terms of the trust deed.
Board of Trustees is authorised to appoint new trustees to fill vacancies arising through resignation or death of an existing trustee.
Day to Day project activity of the charity is managed and carried out by the volunteers and Pastoral leadership team.
## **Strategic Highlights**
The aim of Divine Exchange Christian Centre (registered charity number 1144013) is to fulfil its divine calling, which is to respond to the gospel of God’s love in Christ and to live out its discipleship in worship and mission. It does this via its strategic objectives, which are reported to our stakeholders
Establishment of the Divine Exchange Bible Institute is an opportunity to train new Pastoral students in the ministry in order to have a resource of people who will be willing to establish new churches and continue to publish the Gospel. In terms of the city of Leeds, this is achieved through evangelical events that are carried out in Leeds City Centre on a periodic basis. In the current financial year, the evangelical activities have been limited due to the restrictions of the pandemic and the national lockdown.
The church is in East part of Leeds which has become a cosmopolitan community area with new migrants from Eastern Europe and East Africa. The blend of cultural differences has resulted in new opportunities to connect to other faiths that the church has never had access to. This has enhanced the vision of evangelism as one of the church objectives of working in the community.
The charity has overgrown in its current facility and will be looking towards purchasing a building that will enable the church to carry out a varied array of activities without the limitations of space.
The church has established new ways of working by transferring services to online and has made significant progress in encouraging online donations and sponsored contents.
The church has made significant progress in publishing the Gospel to the surrounding towns in West Yorkshire. One of the most important strategic developments has been the establishments of the church member base in the town of Halifax, West Yorkshire. The church now has a large number of church members who travel from Halifax to Leeds as part of the Sunday church service . During the pandemic period all services were transferred online once the locked down period initiated.
During the financial year, the church increased its charitable activities in the community by enabling new programs that are detailed below;
* The Church has been giving free lunches after service and weekly food parcels to those in need due to the cost of living crisis
- A conference in Poland and reached out to the Ukraine's who were sheltering in Poland due to the war.
- *A polish service with people joining from Poland online via Zoom every Sunday
- The children's ministry intensified its outreach work by distributing books to families with children with the aim on supporting home schooling; and
- Provision of online church services via social media.
- We have small groups that meet each week to get involved and experience divine lifting by god.
## **Financial Highlights**
In the current financial year to the end of September 2024, the church managed to end the year with its voluntary income deriving from church giving, increased by £7k in comparison to last year to £129k
The charity also managed to claim 'Gift Aid' money (for 2023-2024 ) on it donations from HMRC, that would be reflected in the 2024-2025 annual accounts
2
**Divine Exchange Christian Centre**
## **TRUSTEES' REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2024**
## **Youth ministry**
Our youth ministry has continued to evolve in reflect of the fluidity of the church membership. We have an ever-growing number of students involved in a variety of programs aimed at increasing bible knowledge and discipleship, these include Dive Deep, Middle School Friday nights, High School Community Group. As part of the transformation to new ways of providing services most of these activities were transferred to online platforms.
## **Volunteers**
We would like to thank all the volunteers who work so hard to make our church the lively and vibrant community it is. This recognition extends to all volunteers who serve in various capacities and continue to sacrifice their time in ensuring that the gospel continue to be spread in West Yorkshire.
The church has focused on developing Christian disciples who contribute to the smooth running of the church and the services in general. The number of volunteers is fluid as a correlation to the church attendance. The church has ensured that the volunteers are signed up to detailed role description to thus ensuring mitigation of any potential risks. This strategic objective includes ensuring adequate insurance cover.
## **Future Development**
We intend to maintain our existing range of community activities working in partnership with the local community, to enhance this vision, the church has recruited a full-time church Pastor to drive forward the vision of the church.
We intend to grow our volunteer base and diverse community engagement training through the Bible Institute.
## **Statement of Trustees’ responsibilities**
Charity law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the charity. This responsibility is discharged and evidenced by the signature below.
## **Approval**
## **This report was approved by the trustees on 23 July 2025 and signed on**
On behalf of the Trustees
Kelechi Ngozi Chukueke ……………………………. bctoe:
…………………………….
Name
3
## **Divine Exchange Christian Centre**
## **Accountants' report on the unaudited accounts to Divine Exchange Christian Centre**
I report on the accounts of the charity for the year ended 30 September 2024, which are set out on pages 5 to 9.
You have approved the accounts for the year ended 30 September 2024 which comprise the Statement of financial activities, the Balance Sheet and the related notes. In accordance with your instructions, we have compiled these unaudited accounts from the accounting records and information and explanations supplied to us.
Ferndale Accountants Ltd
Suite 1 15 Salem Street Bradford West Yorkshire BD1 4QH
23/27/2025
4
## **Divine Exchange Christian Centre Statement of financial activities**
## **for the year ended 30 September 2024**
|**Incomeing Resources**
Income-unrestricted funds
**Other income**
**Total incoming resources**
**Resources Expended**
Other direct costs
Wages, salaries and other staff costs
Car, van and travel expenses
Rent, rates, power and insurance costs
Repairs and renewals of property and equipment
Telephone, fax, stationery and other office costs
Advertising and business entertainment costs
Bank, credit card and other finance charges
Accountancy, legal and other professional fees
Depreciation and loss/(profit) on sale
Other business expenses
**Total resourses expended**
**Net movement in funds**
**Total funds at 1 October**
**Total funds at 30 September**|**2024**
**£**
129,014
830
129,844
53,711
29,294
2,137
39,854
515
6,443
2,260
25
2,814
3,981
566
141,600
(11,756)
91,141
79,385|**2023**
**£**
143,449
237|
|---|---|---|
|||143,686|
|||41,010
27,537
1,911
34,940
690
7,336
2,718
-
3,491
4,105
569|
|||124,307|
||||
|||19,379|
|||71,762|
|||91,141|
5
## **Divine Exchange Christian Centre Balance Sheet**
## **as at 30 September 2024**
|**Notes**
**Fixed assets**
Equipment, machinery and motor vehicles
3
**Current assets**
Bank/building society balances
Cash in hand
Other current assets and prepayments
**Net current assets**
**Net assets**
**Funds**
Balance at start of period
Current Net movement in funds|58,668
261
2,322|**2024**
**£**
18,134
61,251|69,855
261
2,322|**2023**
**£**
18,703
72,438|
|---|---|---|---|---|
||61,251||72,438||
||||||
|||79,385||91,141|
|||91,141
(11,756)||71,762
19,379|
|||79,385||91,141|
6
**Divine Exchange Christian Centre Notes to the Accounts for the year ended 30 September 2024**
## **1 Accounting basis**
The accounts are prepared on the receipts and payments basis and include the results of the charity's operations which are described in the Trustees' report, all of which are continuing.
The financial statements have been prepared in accordance with the Statement of Recommended Practice Reporting by Charities (SORP 2005) issued in March 2005, and applicable UK Accounting Standards and the Charities Act 1993.
|**2**
**Profit and loss account analysis**
**Income-unrestricted funds**
Voluntary givings and offerings
Gift Aid
**Other direct costs**
Charitable donations
Church refreshments
Church prayer activities
Church Conference
**Other income**
Interest receivable
**Wages, salaries and other staff costs**
Wages and salaries
Pensions
Staff training and welfare
**Car, van and travel expenses**
Travel and subsistence
**Rent, rates, power and insurance costs**
Rent
Light and heat
Cleaning
**Repairs and renewals of property and equipment**
Repairs and maintenance|**2024**
**£**
129,014
-
129,014
6,550
12,591
20,317
14,253
53,711
830
28,499
559
236
29,294
2,137
28,000
11,293
561
39,854
515|**2023**
**£**
121,855
21,594|
|---|---|---|
|||143,449|
|||5,057
14,993
10,745
10,215|
|||41,010|
|||237|
|||19,864
663
7,010|
|||27,537|
|||1,911|
|||27,728
7,014
198|
|||34,940|
|||690|
7
## **Divine Exchange Christian Centre**
## **Notes to the Accounts**
## **for the year ended 30 September 2024**
|**Telephone, fax, stationery and other office costs**
Telephone and internet
Postage
Stationery and printing
Equipment expensed
Software
Other insurance costs
**Advertising and business entertainment costs**
Advertising and PR
**Bank, credit card and other finance charges**
Bank charges
**Accountancy, legal and other professional fees**
Accountants fees
Payroll fees
Other legal and professional
**Depreciation and loss/(profit) on sale**
Depreciation
**Other business expenses**
Subscriptions
Other expenses|2,255
38
869
1,233
1,208
840
6,443
2,260
25
500
1,141
1,173
2,814
3,981
167
399
566|2,127
48
483
2,904
1,139
635|
|---|---|---|
|||7,336|
|||2,718|
|||-|
|||500
732
2,259|
|||3,491|
|||4,105|
|||142
427|
|||569|
8
## **Divine Exchange Christian Centre Notes to the Accounts**
**for the year ended 30 September 2024**
- **3 Plant, machinery and motor vehicles**
|**Plant, machinery and motor vehicles**||||
|---|---|---|---|
|**Cost**
At 1 October 2023
Additions
At 30 September 2024
**Depreciation**
At 1 October 2023
Charge for the year
At 30 September 2024
**Net book value**
At 30 September 2024
At 30 September 2023|**Plant and**
**machinery**
**£**
38,002
3,412
41,414
19,616
3,924
23,540
17,874
18,386|**Motor**
**vehicles**
**£**
1,246
-
1,246
929
57
986
260
317|**Total**
**£**
39,248
3,412|
||||42,660|
||||20,545
3,981|
||||24,526|
||||18,134|
||||18,703|
- **4** Accountancy fee for the current year is £500 which is not paid yet.
9