Covenant Love Chapel
Report and Accounts
28 February 2024
Company Registration Number- 07541137
The Charity Registration Number- 1145511

CO￿nant Lov# Cha￿1
ReF>Ort and accounts for th8 year ended 28 February 2024
Contents
Charfty information
Trustees. Annual Rgport
Staten7ent of dlreetor¥' r•sponslblllU•s
Independent Aecountsnvx R•port
Funds Statemgnts.'_
Ststernent of Fina￿la1 A(afvitios
Mov8ments in hjnds
Incomè and Expgndibjre at￿rrt
Summary offuThJ5
10
10
to
B•lanco sh••t
Note8 to thg ￿countr
12

Covenant Lov8 Cha￿[
Company Regf8tratrc￿ Number- 07541137
Trustees, annual report for the year ended 28 February 2024
Th• Trustees pr88ent their RerM)rt and Ar&￿￿ts for Ihe 28 FetKuary2024. also comprtses
the Directors, RekM)rt reouired by thè CompaA* Act 2(￿.
Refergnce and admlnlstratlv& details
Th8 charltyname.
bjal namè ofthe charity B... Cover￿t Love ChaFel.
The tharfty is also kno￿ by ts (wliTrJ rwtE. RCCG Covenant Lov• Chapd.
7h8 charlty* •reas op•rnVon •ftd UKchaiital￿o ftyiskndo
Tho charity is r¢gi8tered in EnglBnd & Wa$8S With lh8 Charlty CO￿1￿ In EWr¥J & W8bs ICCEWI w
charity number 1145S11.
The charitydoe5 noi operats in any t)¥8￿628￿￿￿Q￿￿$.
The chanty is 0>￿ti￿rted as a Lwpany Iwnit8d by wwantee. wi51waY underthe Compan18s . Th8
govoming dooJrn8nt of the tharity is Mfrrrrfrnidurn anrj fvticles olAssiwkn estatrAishing thè ￿pafiy
under company kng1sLglk￿.
The goveming doryJment 1$ datwj 01 June 2L*)8
There are no restn'ctions in the gov6ming ¢Jo(yJm8nts on the operal￿Tr of the Charity or on its
investment powers othèr than thosg impc*ed ty Chaiity L84V.
By cpWatiC￿ oflaw8ll. ￿￿te8$ are dir8dor5 undertho Civn￿nkn8 2006 and all d1r8dr￿S are tnjstees
uNler Charfties legbslatson and h￿0 ￿SPr￿s1￿1￿6. AS S￿h. urmlw uxnpany ¢harity ￿l$latiOn.
Tho trust888 a￿ all ir*JNidua15 l*t bd(F•f.
Mr5. Anthofiig Jusbn
Mr. Olubanji Oladoye N*eni
Mr. 0*ade￿ Oshinltic
Mr. OlUkUn￿ Shorim*B
Mrs. Adefolakè
Mrs. Prnisfy Ccffjnado
Th• winclpal 0￿ratIng *ldr•8•. t•hphw D￿ts8r. *Mil and web addres￿ ofthe ch*lty Brn...
High Street
Sittsngbryjma,
United kingthjm. ME10 4
Tekphone 01795428875
Email Address sdayerni21
Web adthvss CO¥enanfy)V￿hapaI.¢Yu.uk
mail.¢
The registered offte of the charity for Compan1* Act PLtrFX)8es is the as the operallng
Bddress shown atThe.

Covenant Lovè Chap#l
C(Knpany R￿istratIOn Number. 07541137
Trustees, annual report for the year ended 28 February 2024
Tho followiwtg perno￿ Mrved a8 Trus¢e•s durlng the year •nded 28 F•bruary 2024:_
The trustees 8￿j as a in repj11￿ penc#l as sho•m atrA)ve. and therE werg no
changes during the yeat. or in Ihe WK#J the JEar end and the approval of acc4)unt5.
Objects and actlvFtie$ of the charity
The purposes of the charity as set out In Its governlng documenL
The objects of tho thanty ¥re:
1. The advancemènt of th$ Chrisknan religion worlokn.de arKI
2. The relief of povety.
pursues these ot4ects by the 0[￿tion of a Christian *tJrship (Entre * a faclty ktat&l al
Covenant Love Chapel. H￿h Street, Srttt'ngtKJume, England ME10 4￿.
Th• maln 8CtlviUes undert•kgn in relation to thos• purposos during the year.
SwJntficant adiwties that ojnlributed to th8 ach￿W&ment ofthese obJ"8Ctwes wgre..
1. Evènts organised during the ￿#r to rrfomot8 the Christian faith indude distribulion of leanets with
Christian messages, organising deliveran￿ sèrw￿s. all night vKJi15. speoal prayers and
counselling.
2. Other activities to help raise the prtifife of thè tharity in the knal rg)mmunty indud8d picnts,
Mothers, Day arxl Father5. Day celewkns.
3. Spectfic 8Ctivities for the ￿1ref ol Fovety are in Ihe areas oftraining aThJ mentoritvJ of the
unemploye(I to start their bu￿.ne$s&S and passing job informatkm to pb seekers.
The maln actlvltles undertak•n durfng tho year to fiirthar the charlty s purpose for
the public ben•fiL
Grants are made to Oth81 tharitabkg bodies. The thurch suprM)rts missionary organisalions such as
the Festival of Lrfe and ￿ Wortd Evangelism Mission. aThJ other missNJns and pro1￿tS within and
outside th8 UK. The church also proMd&5 SUPWt to memtxr5 of (¥Jngregation lat the diSC￿t
of the ¢nJstees) are in need
The contrlbution of volunteers durlng the year.
The thurch is grateful for the commitment and effc¥ts of rts volunleers WIK) ar8 Invofved in sgrvices
provision. The church has over 30 volunteers (x)mrnitted to worknng in varFous departments ￿thIn
the church. The f*urth continues to dispense Ihe service of heads of dePath￿nts and ministers to
ensure that the test value is derryed frcxn the stetr1ing effots of the volunteers.
The rnaln achlevements and perforniance of the charlty durlng the year.
The trUSt￿S are pleased to roFXYt that the i*urch ujnlinued to be succgssfvl spiribjally by
ministering to many people in waygr and weffare. The (*urth has improved in membership slreThJth
and is Inc￿aS1￿JIY waching ¢yJl to the ￿MmUnty.

Covenant Lovg Chapgl
Company R*Jthbon Number. 07541137
Trustèes. annual report for the year ended 28 February 2024
StTUCture, governance and managernenl of the ¢harty
The methods used to rocrutt and appoint new charlty trustees.
New trustèes are 818ctgd on the basis of the c¥)ntritMJiion that they w711 make to the govemance of
the org8nisation and the sknlls that Ihey Mll Ixjntribute. They ar8 providod with copies of the Charity
Commission's guidance to trustees and given an introduction to the actiwb"8s of th8 ¢harty by the
existing Board.
The policies andprocedures ffor the induction ond training of twstees.
Existing trustees are provkyed with training as arKJ when requirod.
The ¢harityS organisa￿Onal stnKture.
Thè board of t￿SleeS is headed by a Chaimwn. the s￿etary to Ihe trust and a FinarKxal
Adminislralor. Al the present employees of the are voluntary %w)rkers. The trustees are
responsib￿ for maknng all decisKJns regarding alkut#)n of hjnds arKI acbth.
B8nke
S8C 8ank Ac
115 HvJh Stre8t
SittrryJtrKM¢rne
Kent
ME104AL
Accountants
1A TO￿ Swwe
Erith
London
DA8 1RE
Flnancial review
The charity s financialpositson at the end of the year ended 28 Ffjl)ruary 2024
Th8 financial p0S￿On of the charrty al 28 February 2024 and wrnpat3tiv8s for the prior p8nod. as
nTh)rè fully detailed in the accounts, can be 5ummari¥ed as fdlow5'.-
2024
2023
N•t Income
11,3651
36.641
Unrestricted R￿8nL￿ Fund$ 8v81l8b￿ lor
the general Pu￿0$e5 of the charity
Tot•1 Unresirfct8dFunds
351.967
353.332
351.967
353,332
ReStr￿ted Revenue Funds
Tg¢•l Restrfcted Fund5
25,885
25.885
25,885
25.885
Total Funds
3TT.852
379.217

Covenant Love Chapol
Company RegISt￿tion Nurnber. 07541137
Trustees. annual report for the year ended 28 February 2024
Flnanclal revlew orth• posltion at the reportlng dats, 28 February 2024.
During the year. incoTh of £206,1561£180,345 in 2023) was r￿1¥&1 as voluntary donations and
gift aid. The net movement in fvnds for the period, as shwi in the statem8nt of finanual activ￿os.
for the period was a loss of £1,365 ISuWu5 £36.641 in 20231. The value of the Covonant Love
Chapel's net as at 28 February 2024 rs £3TT,852 {£379.217 in 20231.
Policies on reseMIs.
Restrictsd funds
Rgstricted fur￿$ arè to be used for specific purposes 85 speufi8d wthin the obje¢#s of th8 tharity.
Expendiiure, whith m8els these criteria, wll te idèntrw to the fund. together with a fair allO￿tion
of management and support costs. There was restricted fund during the year which was expènded
for the purpose rt was int8nded for.
Unrèstricted funds
Unrestricte(l fvnd5 are donations and other In￿Me$ r￿￿1ved or generated for thè Obj￿ ofthe
charity wthout further 5pecifigd purwse and arè availab￿ for 9gneral hJnds.
Details of the Inde￿ndent ￿MIn&T
Adeniyi Zac£*wJ&
1A TO￿
Erith
DA81RE

Covonant Love Chap81
ComparTry Rwgi¥lralkin Nutrthr- 07541137
Trustees. annual report for the year ended 28 February 2024
Statsment of the directors trustees. Rgsponsibilitles
The trustses ar8 responsibfe for thè prepatst*)n of the acttjunts in 8ttordonce wilh the
tem)s of tho Companies A¢t 2006. the Charrties Act 2011 and tha Charities IAcuL¢nts and Reports)
Regulations 2008. Noti￿thstandIng the eX￿1¢It r8quirement in the extant s18tutory regulab"ons.the
Charities lAc￿￿nts and Reports) RagUlat￿n$ 2CM)8, to prepare the financial statements in
aco)rdance with the SORP 2005, in vi8w of the fact that the SORP 2005 has b88n withdrdwn. the
Trustees detemined to interpret this resrK)nsibilty as requiring them to folkm ojrrent best practice
and P￿pare the ac￿Unts according lo the FRS 102 SORP (Statement ol R9￿mmanded Practice
for A£￿￿n￿.ng and Reporting by Charitiesl 2015. las amended by Ihe Bull6b"n issuod in October
2018 and applicable *0 all accounts.ng ￿0dS begiftning on or after Ist January 20191. (The SORP).
In parti¢JJlar. the Gompanies Act 2CI)6 aThl tharity wuire the 8oard of Trust8es lo prepare
financial statements for each finanoal year which give a true aNJ fair vw of the stste of affairs of
the charity as 8t the end of the fin8naal y88r and ofthe sUr￿S ￿ defv"l ofts charity. In preparing
those financAal ststements the Board is requir￿1 to :.
- to prepare the accounls in 8(X0rdar￿ vrith United lQngtrom Generally A￿pted
Accounting Pracb'ce (United lfj"ngdom A[¥￿n11"ny StaThYards and applicable tawl.
- select Suitab￿ accounting polic4•s and appty them consistonlly,.
- make judgements and esfimat85 that ar8 reasonable and p￿￿ent.
- prepare the financial ststements on the going concem bas.s unless it ts inappropriat
to presume that the tharity wll c%)nlinue in busine55"
stste whether ap￿ICable acewnting standards and statements of
r8commend&J practK? have b8en folhmd. subjèrt to any matwial
departures disdosed and explained in finanoal slatements.
The law requires that the tnjstees must not approve the aoxjunts unless thèy are satisfied that they
gNe a twe and f8tr v7ew of the sta18 ofaffair5 of the charFty arKI of the su￿U$ or defidt of the
charity for the year.
The twstee& arg aLBo r8sw)n&blè lor rnaintstsMr*J •Je4uate actixuibng rerAyds (J5dose *ith
r88s0n4t4e 8fAXJTrCy at 8￿Y tirne tht finarKkg1 F￿￿on ofthe charity arwj are SU￿￿ent to show and
explain Ihg ¢hariWs tr4rwtions and 8nal)le to ensure that ¢h8 finanoal staternents rx)mpty the
Cornpanies Act 20l￿ and regulation5 rnade underU* Charthe5 Act. They are also ￿spOnSible for
safeguardlng th8 assets oflhe charty 8Th1 hence ta*J'ng rgas(¥th stsp5 lor the prevention and d018don
of fraud and olh8r irre9uL4rili8&
Thè TFUStees al￿ resrJ)tyt)le forthe ￿￿18nts of th8 Try￿, rwxL ststutory respfmsbility of
tho Independont Examiner in ￿l#tr￿ to the Trust88s' rekK¥t is Ilmit8(J to exarnininu repfmt and 8nsuring
that, on the farA of the r8rrt there are rna1￿1 Ir￿T￿SIenC1e% with th8 fyU￿5 disdosed in Ihe financial
stst8men¢5.

Tnwtqo8' annual rnport for the year ended 28 February 2024
3)18 aThJ to Al act￿n￿j on or*ler 1# 201EII. SORPI, •rkt

Covenant Love Chapel
Rgport of the Independent Examlner to the Truste•s of th• charltablo company on the
accounts for the year gnded 28 February 2024
I re￿rt to th8 tnJste8s ￿ my 8xaminab.on of the finarwl Slaternent% of thè thantabl8 u>mpany on pages
12 to 20 lorthe year ended 28 Fetsruary 2023 ¥thich have been prepared in awthnce ￿th the Charrtse5
Act 2011 (the Acll and with the Finanoal Rewbng Standard 102. (effective 1st January 2016185 mc>#ified
by FRS 102 SORP Istaternent ol Re¢r￿Met￿le& Practice lorAc￿￿ntir￿ and Rew)rttThJ by Charptses12015.
las amended by the Bulletin Issued in Cktrknr 2018 and appltsb18 to all ac(x)unling peri(xJs beginning on
or after 1st January 20191. (rh8 SORPI, published by th8 Charity Commissx)n in EryJland & Wa
ICCEWI . and under the historiral c*)st ￿nVent￿ and the a¢L￿ntir￿j ￿l￿e$ set out on p8ge 19.
Regp8ctiw r•5pon$lbFli￿•ts of the tN¥tw$ 4nd the Independent Examlngr and the basis of the r•port
As d8SLYibed on page 5, you. lh8 charltable cotyyanys Tnjstees. who are also thè Diractors of the
Comp8ny for the purposes of Company law, are ￿￿nSa￿e for the prep3rabon of ihe finanrAal statements
in aC￿r￿a￿r* ￿Lh the Companies Act 2LX)6, the Gharrli8s Act 2011 and all other applicab￿ law and wth
United Kingdom Generalty A￿epted A¢￿untir￿J Pr5cti￿. app&>ble to smaller enth'es. and fLY being
satisfied that the finanad Slalements gple a true and tsir vwAf.
The trustees c￿3*Jer thal the aUd￿t rwulrèment ￿ SKtion 144(11 of Ihe Charitres Art 2011 Ilhe Act) does
not app￿. and that thw8 is no r8quiwent in the rn8nK¥3ndum and artides of the charity for the ￿nd*￿￿n9
of 8n audit, and that Ihe auxwnts do not require an audit in aC0)rdan￿ ¥￿th Part 16 of Ihe Companies Act
2006 and that ￿ ￿￿rnber or membars have ￿￿e$￿￿ an aL¥dit putsuant to Secticffi 476 of the Companies
Act 2006. *ks a cOnsequeTr￿, the Trustees have eleLXed that the fir*ncial slatements b8 SUt*ct to
independent examin8tK)n.
Having sali5fjed myBeifthat the finanaal statements are wuired to b8 audthj un(Jer any legal
promsion, or othorwi8e. arKJ are eligibfe for indepeThJerrt 8xarninalion. il is my responsibj.lity to:.
al axarnino th8 finarrtial statements ofthe dwnty urKJer 145 of the Ac¢.
bl follow the ap￿￿blO W￿dUM$ in the t￿re1￿C￿$ gNen by th8 Chty Commi&81)n under seel*Jn
145(5llbl of the Act.
Bas18 of Indep•nd•nt eunln•rf$ stat•r*nt and •¢ope ol work und•rt•k8
I r8wrt in respecl of my ex£min8b"on of the c*arilVs finan(xal staternents carri&J uThYer s145 ofthe Act.
In caryThJ out my examination, I have follo%*d all the app11rab￿ DI￿tionS gwen by Ihe Charity
Commr5sion under section 14515Xbl of th8 Acr Setb￿ th8 dulles of an irKJ8p8n(lent e¥Amlner In rejalion
to the con(Jucting of an in(lependent examin*"M. kn I￿rendent examination incknles a rewew ofthe
accounbTrJ reeor¢J5 kept by the Charitab￿ v)tnpany and of th8 aL*wntiThJ syste￿ empkny&J by the
¢harttatAe company aThJ a o)mpartson of the Slatemewrts presented vMth those rec￿rdS. It also
incltxjes ￿nSIderatiOn of any unusual items or d1sd0su￿S in Ihe fin8ntial 5tat8ments, and seeknng
explanations from you. as Trustees. Lajnceming such matters. The pwse ofthe examination is to
establish as far a3 kx)ssIb￿ that there have Lwn no brea￿ of thanty18gisktlon and (l￿t, on a lest basis
of eVwjen￿ ￿levant to the a￿￿mInt$ gnd di%lDwr8s nw(le, the finarK¥al stat8mgnts cornply the SORP.
The prLvdvres urKlertaken Ilo not mKJe all the eMd¥nce Ihat be required in an audit. and
information Supp1￿j by TTUStees in the ¢wrse ofthe ex8minatson is not sub￿Cted to audrt tests or
enquines and dces not eA)ver 811 the matters that an au¢*tot ￿￿5￿￿er In aniviNJ at 8n opinion. The
pLqnniry and ￿duct ofan audii gThs bèyond the linit&J as5tsran￿ thal an wMlep8ndanl examin8tion can
provjde
Consequ8nty, I do rK)t exprèss an audit opinK¥) wibw given by the finanrial slatem8nts, and In
partyoJL8r. l express ￿ opinK)n as to whether finarmial ststements gNe a and fair view of Ihe aTrdirs
of the charity, and my re￿t k% Iwnrte(I to the matter5 set oul in the Slatemènt t*w.

Covenant Love Chapel
I pjanwl and perfcm*d my examinabon so as to satisfy ryrysewlhai Ihe obie(*ves ofthe independent
examination a￿ athiewj aTrY tslc¥e finalis1￿ thg r8POrt l obtained vrritten 85surances from th8 Truste88 of
all rnat&rial matters.
Indop•ndont •xamln*rfs s¢atemonL r•port and oplnlon
Attention Is dra￿ to thè accouth.ng policy stating that. nohmthstanding the explKit requirement in the extant
statutory r8gulation5. th& Charities (Accounts and Rep￿ts) Reguratio￿ 2008. 10 prepare the finanual
statem8nts in atrxXJrdan￿ the SORP 2005, ￿ View ol the fad that the SORP 2005 has beèn ￿thdra￿￿.
and in orderto al￿ wth currènt test practi￿. the Trustees have d8temin￿l to prèpare tha ffinantsal
statements in aC￿rdance Ihe FRS 102 SORP 1staiery￿nt of R8cornmtrTrJed Prdctice forAcca)untiryJ
and Rep)rting by Charitse512015, las 8metNJed by thg Bultth'n iss(Ed in ()Xober 2018 and applKable to all
aw)unb'ng paritjys b8ginning on or after 1s1 Jarwary 20191. (fhÈ SORPI, . I concurwith this approach. aTr
any tsthncts in my rBPC*t to the regukn slxwkl be r8•J gJbie(* to Ihis oNnmBnL
Subject to the limitatic¥)5 urth th8 scow of my wjrk as detsied abow I have I￿p18t￿l my examination..
and can (x)nftm th8L-
The acwunts of thk% Charrtab￿ c¥ynFony are wuw¢(J lo t* aLKlit&J under Part 16 ofthe C(mpanies A
Thls is a reFort in respect of an examination carrigj rAJt under 145 of the Act and In acxxjrdance wth
Directitins gNen ty the Charity Cornmission under section 145(5Mbl of the A(X m8y be aw>1icats￿.
and that no rnatwial matters have c￿e to my attentbjn in 7hith the gxamTriation gwing m8 eau8e
to bèlieve that ilt any mateiial rnspecl.
accounting fycords ￿Ta not kept in rgspect ofthe (*arityas rawlr￿j by Sth 386 ofthe Companies
Act 2￿6 and Secbon 130 of The Charrties AL12011"
the financk?I stat8rrents (k) not a(tortl vhlh thrjse ￿0￿dS.. or
the fin8naal ststements do not o)mtyy ￿1h the applK?ble rwuweft)erts (￿￿eMir9 thg form and
content ofaca)unts set out tn 396 ofthe Cc¥npanies Ac* 2006 olher t￿n any wuirement that
the a(u¢Jnts gr¥e a Irue and fairf wiew. L8 ￿t a matter ￿nShI￿red as part of an independent
examination,.
hav8 not boen prepar￿1 tn accordance ￿th Ihe t￿th(Al$ and p￿￿p1￿% set OLrt in Ihe FRS 102 SORP
(Statsm￿t of Recomm8ThSed Practi￿ ILY Attounting an¢J ReFth"rvJ by chawiti.esl 2015. las amend8d
by the 8ulletin k8sued in Oclot¢r 2018 and 8FpIKable lo aN acc￿n￿ng penods Wnning on or after 1st
January 20191. (The SORPI.
I h8ve no Conc￿)$ and have acJ058 ￿ other matt￿5 ￿ ttjnnedion W￿1h th8 e￿Minat￿￿ to %thich
attention shoukl be ¢ra%w in this repL¥t in order lo enat4a a u￿￿$tand￿￿ clth8 ￿￿￿1#1 statements
to be r&sch￿.
Aden1￿ Zacdws. IThl￿nderrt Ewnin
Chartered Certrr￿d At£)￿n￿nt
1A TO￿ Squar8
Erith
Kent
DA8 1RE
This rewt was SKdngJ on 28 Augu* 2024

Covonant LO￿ Chap81- Stat•ment of Finan¢lal Actlvrtl•s tor the y¢ar ended 28
February 2024
Stat8ment of Flnancial A￿lt￿5 (including the Income and Expenditure Account for
the year ended 28 February 2024, as requlred by the Companies Act 2006)
Curr•nt y•nr
PrWy••r
Z4
2W23
Incom•.'
Oonabons & L6ga(
In¥eylm6nts
1￿.215
15.349
190.215
15.349
592
185,705
,677
5,963
Total Inwm•
206.156
206.156
180,345
Exp8ndMure on..
CharFt8Ne
207521
207.521
143.704
Total exp•ndliur•
207.521
207.521
143.704
Not lorth• y•ar
11.3651
36.641
N•t mowamont In fund*
11.365)
{1,3651
36.641
Roconclllatlon of fur￿:.
Total fuTrd* Ixoughtforwa
379217
342.576
Total fundB cafti•d fonM
351.967
25.885
37Y.852
379.217
Th8 SORP Ref Ind￿018d atKwe B the da5sfrth of Incr*r* s*t r•Jt SORP drojmants. AS
by p8ragrBph 4.60 oflhe SORP, the twm and fwrrj fvnd8 ¥t*￿e htre
to ts Balar￿ SheeL
Aseparaie Statornenl ofTotsi Rtt<*Jn**l G81￿ L￿¥ ts nut r￿￿r*] as s18t*Y￿
rwnised gains aTrJ knsÈes.
AJI 8cbwtEs derive frvm continuiThJ op8rab(
Cov•nant Love Chapel - Resour￿$ applied In the year ended 28 February 2024
towards flxed assets for Charity use:.
2024
Funds gtrneratad In thè ￿ as lh8 SOFA
Rexurrm on fifftl as8ets
11.3651
le.(￿2)
36,641
12.1881
Net r•￿VrCeS awdilat>l• to fvnd charlt•blo actl¥lt
not•s attach•d on paw 12 to 20 fonn an Iiit8gral part of th•M account

Covenant LO￿ Chapel - Statement of Flnanclal AcUTAtios for the year endod 28
Febwary 2024
Movements in r•venu• and eapital funds for the ygar ended 28 February 2024
Ro¥ènu• accumulat•d fund8
Toial
FurKIs
LB51 y
Toial Funds
Fur
Fu
Ac0Jm￿ated fvnds LWM 3S3,&32
Rett)gni8￿ gaKrs 8rKJ
11.3651
before transfers
25.885
379.217
342A76
11.3651
36,641
351,967
2S,885
377.852
319317
Closlng ¥•v•nu• fund
351,9
379217
Summary of fvnds
Tatsl
FurK
Fur
2023
R8v8nue a£¥xJmufat8d hjnds
1.967
3TI.8S2
379.217
Ttstsi fur*d•
351.967
25.885
377.852
379,217
co￿nartt LO￿ Chapel
Incomè and Expendlture Account for the year •ndod 28 Febnmry 2024 as rnqulr•d by
tha Companles Aet 2006
2024
2023
In￿)rne fr¢m oFerakns
Rèfunds from HMRC on grft aKknJ
188.043
2,172
162,315
Inve5twl In¢x)Th an(1 int8r8St
15.349
8.677
Incom• in th• ythr bth •X￿pu0￿1I H•rn8
2041
180.345
175,C63
10.779
122,022
7,194
Govwn8rK* Costs
Interast payati
20.479
13.288
Total expondllur• In tho year
R8tsln•d surplus for th¢ flnan¢lal year
l 8cl1wt￿ derive from c•JntinuirKJ cywakn$
207,521
143.704
36.641
In 8ccud8nc• %¥ith ts prtWtskY6 oftr* Aca 2W6. arKI subheayings in Ihs Incomè
The note$ attached on pages 12 to 20 fonn an integral part olthu• 8ecounts.
10

2023
491.917
491.917
h 81 bank ar*1 ￿ Iw
114,094
114.LW
on• y••r
122.481
110.951)
103.143
I￿n
{184.955)
1215.8431
37T,862
379.217
12
12
1.987
377W2
379317
11

Covenant Love Chapel
Notes to the Accounts for the year ended 28 February 2024
1 Accounting policigs
Poli¢les relating lo the pmdtsction ofthe accounts.
Ba8t8 of pr•p•ratlon and accourrtlng cIM¥ention
Th8 3￿rts have b8en prep8fBd on ihè 8¢YAuals b￿.$. uThJ8r the h￿r￿al LXEI ornvèntion. arm1 in accordan
the Flnancial Rewrtin9 Standar(1102, leffectiv8 1st Jarnuary 20161 and'FRS 102 SORP IStatom8nt of
Recommended prdCti￿ lorArxtsJnting aNJ RewJrts'rwJ by ch￿￿e5)2015.I8S by the Bullth"n issued in
October 2018 and applicab￿ to all arA￿nting perKMJs Winning on or after 1st January 20191, (The SORPI.
published by the Charity C£KTtmissM)n in EThJland & Wales ICCEW) . elf8ctrve January 2016, . and in a¢rord8nr
wilh all applicAble law In the charitys jurisdictim of registration. except that Ihe charity has preparad the financial
stat8rrents In act0rda1￿& wth the FRS 102 SORP Iststement ol R￿1)MMended PrathL* for Ac￿unting And
R8porbng ty Charities) 2015, la5 amended by the Bulkthl issu￿1 in Otht￿r 2018 anLJ applicab￿ to all
a¢eounting per￿S beginning on or after 1st January 20191, (The SORPI. in pr8ference to Ihe p￿MoUS SORP,
th8 SORP 2005. vthich has baen vilh¢Jrdwn. notthsiandl￿j Ihe lacl that the exlant statutory regulations. the
Charitses (Accounts and Reportsl Regulab"on5 2008 refer expliuty to Ihe SORP 2(XJ5. This has been (Jon8 to
accord wilh &J￿￿nI best Wdr*'ce.
Golng Concern
The ch8ritable activities a￿ enlirety dop8ndwt on 0)ntin￿l￿￿ grant aKI arnl vdunlary donations as w8W as tr8¢ing
revenuès. As a consequen￿. Ihe w.ng cOn￿M ba&$ is ￿e￿ndent on the l¢Jture fl(w ofthese une8rtain fvnding
streams. Actt>rdingly, the Trustees have cètsts)ed forec8$ts after ravi8￿r￿j ts fina￿al forecasts for futur8
p8ncA1s to 28 February 2023, Tru8tees are satisfje(l thal at the time of appmwr¥J lh8 finanoal strtements. it is
appropriate to ￿lopt th8 going conc8m basis in preparirg Ihe financ4al Statements. Other than Ihese matters.
tha Trustees are not avrdre of any material ur￿￿rtaInrttt5 thè tharivs atmlty to continuè as 8 90in9 conc8m.
Rlsks and futuwB a48umptlons
The Charity 15 8 public entsty.
The trustees ère responsible to manage risks faced by the charity. The risks f8ced by the charity are
ffnanoal and nonfinancial. The trnstees have put in placts management framework to manage the
risks. Some of the risks faced by the charity are Itquidity and fvnding. reputslional, wulatory and
operational.
Policl•s relating to cat8gori•s of Income andlncome recognikn.
Natur• of Ine¢mo
Gros8 income r9ves￿5 the value, nèt ofvaluè 8(kknY tax and dis(xwnts. ofgLxxls pThidèd to C#JSknrr*rs and
Cat8gorl•s of Incom•
Income is cat89on"s•d 85 inCW￿ frDrn exchawwJg transacth￿S (CL￿1￿(# irmn81 w•Y frcwn rw*xchange
transath"cffi5 Igiftsl, inve5tmert and olh8r inrz*r*.
Incom• from ex¢hange transactlons is r¢ceiv&J by the chanty ￿servi￿ 5uppIK8d under L¥)ntr8ct or
ere entitl&mgnt is subject to fuffilliry perfOMan￿ rdat8d 0)nd￿0￿￿. The ir10)￿￿ the eharity receives is
approximately equal in value to the g(x)Ys or serviw supplied by the charity to the purchaser.
Incom• from • non-exchange transxtlon is the chaity ￿1Ve$ Ydlu8 from th8 donorvrilhout prO￿dIng
equal value in exchange, and indudes tJcwiation$ of wyjs and seMc85 frgety given wthout giving equ81
valug in exchange.
12

Covenant Love Chapel
Notos to the Accounts for the year ended 28 February 2024
Incomo r9Cogn￿lOn
Income, wheth8r from exchange or exchange transadH)ns. ts rwnised in the ststemont offinancAal
8CtMties ISOFAI on a ratswablè ¥then a tran5aLaion or other gv8nt resutts in an intrease in the charity's
assets or a redudion in it5 ￿at￿lObe5 aThJ charty has Jegal 8ntiYery*nt. the incA)me is prDbable and
can bè rneasured r•liably.
Incorn* suty8Ct to torm5 and condthns %%l)ich must be mol Wora Ihe chaty is enbled to the resOur￿S is not
rev)gnisecl until the condi￿nS have been rr*t
All Incorna Is actounknj for gros5. befo￿ d8duc*ng any fees or txjsts.
Policias relatlng to expendilure goods and services pmvided to tha charlty.
Voluntews
T•nglble fix•d ass•ts
Tangi￿e fix8d ass8ts are m8asurBd at theworgind c>Jst V￿u8. or 5ubw4vent revahration. cr rfdonated. as
descriw atxjve. cl￿ vath includ•8 all costs eywnded in brThJw the asset irtts is intènded vA)rknng rx)ndib"cfi.
Depreciation has been prowde(t al the fothJwvJ Trt8s in orderto ¥rrit8 off the assets to tsr anbapatod residual
value over their e5tirnated us•lul Irws.
Building
offi￿ & chur¢h equiprnent
Muwc and rned￿ equipmont
O % stra￿j￿ line
25 % Stra￿h1 li
25 % 5trapJht line
Debtors
Cr•dFtor8 and provi¥lons
Short lemi creditor5 are measured al transaction price {which is usually the invoice pricel. Loans
and other finanual liabilities are initially recognised al transaction price nel of any transath.on costs
and subsequently measured at amorbsed cost detenxtned using the effective interest method.
Catsh and bank balanc•s
Cash held by the charity is indu(led al thè amount aclually held and countetj at the y6ar end. Bank
balances, whethor in credit or overdrawn, ar8 shown al the properfy re(x)nciled to the bank
statements.
Fund Accounting
Unresthcted ftjnds are for at the dlscrelron oflhe trustee5 in furtheran￿ of ts general obiectlves of
tha tharity.
Re5trcted fvnds a￿ subjected to restrithns on therew¢kn impcÉthJ ty ttE {l￿or thrcwh the tenns ol
an appeal oras inw1￿1 by law.
The￿ arv endo*YD￿ ffiJwKJ5.
13

Covenant Love Chapel
Notes to the Accounts for the year ended 28 February 2024
2 Liability to taxation
The trustees consider that Ihe charty salth the tests sot o￿t in P8ragraph 1 schedu￿ 6 of th8 Finance Act
2010 for UK cL)rporation pufFX)ses. ALxxKdirvdty, the Chanty tKJtonti81ty exempt from taxation in r8spect of
irTrcome ￿ c8pital gains rec8ived within (ategones covere(J by chapler 3 part 11 of the corporati￿ Tax ALI 2010
or Secthjn 256 of the Taxèb"on of ChapJeab18 Gains Ad 1992. lo the gxtent Ihat suth income ￿ gaiTT5 are applied
exclusively the specifE (*8rilab* obj&ts of the chanty and no olher purpose. Value Ad¢Jed TaK is not
r8coverable by th8 chanty, and ￿ therefore I￿￿le￿ in Ihe rdèvant C¥)Sts in thè Stat8mènt offfinanaal aL*W￿9.
3 Winding up or dissolution of the charity
If upon wnding up or dissolution of the charity there rern￿n any a58ets. after the sat*1&1k￿ of all debts 8nd
I￿￿'litI88. the assets repre5ent8d by th8 acojmutsted lund shaH be tra￿￿Ted to some other charitable bc*ty
188 having similar obpLts to th& tharity.
4 Net surplus b•forE tax In the financlal year
2024
2023
The net S￿rp￿ tefcrfe the year is Stsbj aft8r thaffJng.'-
D8preciation of ovmed fixe(t assets
Pension LX)sts
3.029
15561
1.156
5 Int8rgst payablo
2024
2023
Loan interest
20,479
13,288
20,479
13,288
S•lary ¢osts
2024
2023
Gro&4 Sakr* exduding trust8•5 and kny rronwJerrwt p￿S￿n￿
EmployÈV5 operating costs of defiwj
contribution pensK)n ￿herneS
37.426
32,635
7,156
Total salarles, wages and Fplatsd costs
37,426
33,791
14

Covenant Love Chapel
Notes to the Accounts for the year ended 28 February 2024
6 Motor Vehicle
Totsl of
Tol•l of
At co•t ¥￿Uthn *1￿ Y￿u9￿0n and
cost
2024
2024
2023
Cost
At 1 March 2023
Ad¢JitKJns
Dispx)saLs
31.CK¥J
31.0
At 28 F•bruary 2024
D•p￿￿tIOn
At 1 Marth 2023
Charg* tr the y
31.t)00
31,000
7,750
7,750
At 28 F•bruary 2024
7,750
7,750
N•1 book Ydlu•
33.250
232SO
7 Tangible fLX8d assots
Cun¥nt Ye•r
Land and •qulplme
Bulldings
. fumttur•
& fittlng
Music &
media
equlptment
Total
¢o#t
At 1 Mwch 2023
AdditK)ns
487.198
24,
18,386
6.422
529,648
8,062
At 28 February 2024
487.198
25,704
24,808
537,710
D•pr8elatlon
At 1 March 2023
Cha￿6 for Ihe year
22.752
476
14,979
2.553
37,731
3,029
At 28 February 2024
23.228
17.532
40.760
Net book valuo
At 28 Febrnary 2024
487.198
2A76
7276
496.950
At 28 F•bruary 2023
487.198
1.312
3A17
491.917
8 Credftors: amounts falling duo wlthln on• year
2024
2023
Bank loans and ove¥drats
Accruals
PAYE, NIC VAT and othbr taxes
19,640
1.370
325
1.146
8,394
1.370
191
22,481
10.951
15

Covenant Love Chapel
Notes to the Accounts for the yoar ended 28 February 2024
9 Crndltors: amounts falllng due after one ￿ar
2024
2023
Bank loans and overdrafts
184.955
215.843
184,955
215.843
10 Incom• and Expenditure account summary
2024
2023
At 1 Marth 2023
Surplus after tax for th8 y8
379.217
11.3651
342.576
36,641
At 28 F•bruary 2024
3TT.852
379.217
11 Particulars of how partjcular funds ar• represented by a￿ts and Ilabilitles
At 28 F•bruary 2024
fvndx
Tangible Fixed Assets
Investments at Valuall￿:_
cu￿ent Assets
Current Liakn'lities
Long Term L￿bilitieS
496,950
39.203
122.4811
{184.9S51
25.885
65,088
122,4811
1184,955
328,717
248e5
354,602
At 1 March 2023
Total
fur
fun
nd
Targible Fixed Assets
Current Assets
Cuffent Lrdbilthes
LMJ Term Liabil￿oS
491,917
88,209
{10.9511
1215,8431
491,917
114,094
110.9511
1215.8431
25.885
25,885
12 Change in total funds 4>ver th8 year as Shown In Note 11 , anatysed by indlvldual funds
379,217
Ftsnds
brought
Mowfflent In Trnn8for#
fund5 in 2024
Fund5 carrf•d
forward to
2025
nds In 2024
2023
Se• Not• 13
unrestrkI￿4ndd*SIgnat0d lunds.".
UTrr98trfcitd Rewue FuThts
353,332
(1.365}
351.967
Total unrg8trfjet8d d8signat•d fvnds
1,36
351.967
Total restr5c￿ lunds
25.885
25.885
Total charlty fund8
379.217
1.365
377,852
16

Covenant Love Chapel
Notes to the Accounts for the year ended 28 February 2024
13 Analysis of m¢>v•mgnts in fund8 over the year
Other
Expondltur• Gal￿ &
Movèment
n funds
2024
2024
Unrestrkted and deslgnaiedlunds...
unrestric￿ Revenue Funts
{207.5211
11.3651
207.521
1,365
17

Covenant Love Chapel
Detailéd analysis of incom• and expendtture forthe year •nd8d 28 Febru•ry 2024 as r•qulrgd by
the SORP 2015
This •natysls is ¢lasssifiedby ¢onventlonalnominal de5cripUons and no¢ by activity.
14 Donations
Un￿t￿ty￿ R•thct•d T(lal Fun
Fun
FurMIs
T4ts1 Funds
2024
2D23
Donations and glfts frorn Indlvldual•
Small donations indwhlualty kss than £10
R81un¢ts Irorn HMRC ￿ grft a￿ad Ilonati(
188,043
2.172
188.043
2,172
162,315
3,390
T+)tal don*t￿n3 ab)d qFfts from
indlvidua
190215
190315
165.705
15 Invgstmont Income
wrontyw ¢unvntye¥ CLwr•ntyur PrSDr Year
Tow Furmts T￿al Fun
Fund*
F¥nd
2024
2024
Pro￿ty Refttal Incorr
15.349
15,349
8,677
Totsl inwè8tment Incomg
15.349
15.349
8,677
16 Other incom• and galns
Currentyear
T4>ts1 Fund#
Tot•1 Fun
Fund•
2023
Sundry other incc¥ne
Total other incorn•
592
5.963
18

Covenant Love Chapel
Detalled analy81s of tncome and expendltur• lor the y•ar end•d 28 F*b￿￿ry 2024 as rnqulred by
the SORP 2015
17 Expondltur8 on ¢har5table aetl¥hies - Direct spondlng
Curr8ntyear
Tot•1 fijnd
Toi*l fund$
nds
hJnd•
2024
Gross wages and salaries-
harrtabl8 actrvities
D8fined contribution pension
costs - charitable acbwties
Trav81 and Subsislenco-
Charitable Activities
Honorarium
WeKa
Training
Event
37,426
37,426
32.635
7,995
7.995
5,699
970
1.114
2.232
10.103
1.114
1232
10,103
7,291
T<)tal dlrect Spendlng
59,8211
59.820
47.751
18 Expondltur• on ¢hartt•ble actlvilies- Grnnt fundlng of ac¢Mtles
CurTentyear
Tot*1
Totsl fvnds
fun¢•
lundi
2024
2023
Grants made to indivtduals
Grants made lo organisations
4.410
38.283
41.387
41,387
Total grnntmaking c¢xts
43.187
43,187
42.693
Breakdown of Grdnts mad• to organlsatlons
Currenty8ar
rbdB
lund¥
Wortd EvaNJ81tGql mis￿rn (WEMI
Central Offjce ICOFI
Fests"val of lrfe IFOLI
M8gdalwe Dov8 Minislrles
Cornp8&8KJn UK
Parkinson UK
RCCG Lord's dNine
Bapbst Church Sitt*w b￿ffle
32.548
,373
6.373
720
720
100
l(X)
11))
19

Covenant Love Chapel
Detalled analysis ol incom• and ex￿ndItUrn for the year ended 28 Febr￿ry 2024 as requlred by
the SORP 2015
Promlses exp•nsoS
Rates and water charges
Light hèat and power
Premises repair5, renevrals artd
maintenance
Propety insurance
425
11.930
328
2.125
11,930
46,757
46,757
17213
2,692
Adminlslrntive overheads
Telephone. fax and inlemet
Stationery and prinb.ng
CD and books
Motor expenses
Sundry expenses
Insurance
2,113
2.113
1J33
921
191
1,006
120
120
Prolessional fees paid to advisor4 obSer than the audltor or examlner
Accountsncy fees other than
examination or audrt fees
13
Olhtsr legal and professional
Bank charges
Loan interest
Depreciation in totsl for the
period
13
128
252
20,479
128
252
20.479
135
217
13.288
10,779
10.7T9
7,194
Total support costs - Currènt year
103.314
103,314
52.060
19 Other •xpenditurn- Gov•rnan¢e costs
Prloryair
Toial fund%
Cunpnt year
UnrBotvfjGted Restrlet•d Tcéal fundi
fun
202J
Independent Examinerfs fees
1.200
Total gow4rnanc• cos¢•
1300
1.200
20 Total charltabk exp•ndMur•
Currpntyoar CuTh•nt year Curyent y•4r
VnteSbl¢ted R•strfct•d Total funds
lunth
rbd¥
2024
Prfof year
Tol&l fundi
Curront year
2024
2023
Total dir8Ct spending
Total grantmaking ¢xists
Totsl support costs
Total governaTh2 costs
59.820
43.187
103,314
47,751
42.693
52,060
1,200
43.187
103.314
Total charltabh oxpendliurn
207.521
207.521
143.704
20