COVENANT LOVE PEOPLE (CLP)
Report and Accounts
28 February 2025
Company Registration Number - 07541137
The Charity Registration Number - 1145511
COVENANT LOVE PEOPLE (CLP)
Report and accounts for the year ended 28 February 2025
Contents
| Page | |
|---|---|
| Charity information | 1 |
| Trustees' annual report | 1 |
| Statement of directors' responsibilities | 5 |
| Independent accountant's report | 7 |
| Funds Statements:- | |
| Statement of financial activities | 9 |
| Movements in funds | 10 |
| Income and expenditure account | 10 |
| Summary of funds | 10 |
| Balance sheet | 11 |
| Notes to the accounts | 12 |
COVENANT LOVE PEOPLE (CLP)
Company Registration Number - 07541137
Trustees' annual report for the year ended 28 February 2025
The trustees present their report and accounts for the year ended 28 February 2025, which also comprises the Directors' Report required by the Companies Act 2006.
Reference and administrative details
The charity name.
The legal name of the charity is:- COVENANT LOVE PEOPLE (CLP).
The charity is also known by its operating name, RCCG COVENANT LOVE PEOPLE (CLP).
The charity's areas operation and UK charitable registration.
The charity is registered in England & Wales with the Charity Commission in England & Wales (CCEW) with charity number 1145511.
The charity does not operate in any overseas jurisdictions.
Legal structure of the charity
The charity is constituted as a company limited by guarantee, registered under the Companies Acts .The governing document of the charity is the Memorandum and Articles of Association establishing the company under company legislation.
The governing document is dated 01 June 2008 There are no restrictions in the governing documents on the operation of the Charity or on its investment powers other than those imposed by Charity Law.
By operation of law all, trustees are directors under the Companies Act 2006 and all directors are trustees under Charities legislation and have responsibilities, as such, under both company and charity legislation.
The trustees are all individuals and list below:
Mrs. Anthonia Justin Mr. Olubanji Oladoye Adeniran Mr. Oladele Oshinibosi Mr. Olukunle Shorinwa Mrs. Adefolake Awoseyi Mrs. Praise Coronado
The principal operating address, telephone number, email and web addresses of the charity are:-
High Street Sittingbourne, Kent United kingdom, ME10 4AJ Telephone: 01795428875 Email Address: solayemi21@gmail.com Web address: Covenantlovechapel.org.uk
The registered office of the charity for Companies Act purposes is the same as the operating address shown above.
1
COVENANT LOVE PEOPLE (CLP)
Company Registration Number - 07541137
Trustees' annual report for the year ended 28 February 2025
Objects and activities of the charity
The purposes of the charity as set out in its governing document.
The objects of the charity are:
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The advancement of the Christian religion worldwide and
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The relief of poverty.
It pursues these objects by the operation of a Christian worship centre at a facility located at Covenant Love Chapel, High Street, Sittingbourne, England ME10 4AJ.
The main activities undertaken in relation to those purposes during the year.
Significant activities that contributed to the achievement of these objectives were:
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Events organised during the year to promote the Christian faith include distribution of leaflets with Christian messages, organising deliverance services, all night vigils, special prayers and counselling.
-
Other activities to help raise the profile of the charity in the local community included picnics, Mothers' Day and Fathers' Day celebrations.
-
Specific activities for the relief of poverty are in the areas of training and mentoring of the unemployed to start their own businesses and passing job information to job seekers.
The main activities undertaken during the year to further the charity's purpose for the public benefit.
Grants are made to other charitable bodies. The church supports missionary organisations such as the Festival of Life and the World Evangelism Mission, and other missions and projects within and outside the UK. The church also provides support to members of the congregation (at the discretion of the trustees) who are in need
The contribution of volunteers during the year.
The church is grateful for the commitment and efforts of its volunteers who are involved in services provision. The church has over 30 volunteers committed to working in various departments within the church. The church continues to dispense the service of heads of departments and ministers to ensure that the best value is derived from the sterling efforts of the volunteers.
The main achievements and performance of the charity during the year.
The trustees are pleased to report that the church continued to be successful spiritually by ministering to many people in prayer and welfare. The church has improved in membership strength and is increasingly reaching out to the community.
2
COVENANT LOVE PEOPLE (CLP)
Company Registration Number - 07541137
Trustees' annual report for the year ended 28 February 2025
Structure, governance and management of the charity
The methods used to recruit and appoint new charity trustees.
New trustees are elected on the basis of the contribution that they will make to the governance of the organisation and the skills that they will contribute. They are provided with copies of the Charity Commission's guidance to trustees and given an introduction to the activities of the charity by the existing Board.
The policies and procedures for the induction and training of trustees.
Existing trustees are provided with training as and when required.
The charity's organisational structure.
The Board of trustees is headed by a Chairman, the Secretary to the trust and a Financial Administrator. All the present employees of the charity are voluntary workers. The trustees are responsible for making all decisions regarding allocation of funds and activities.
Bankers HSBC Bank Plc 115 High Street Sittingbourne Kent ME10 4AL � Accountants Crownwise Consult Ltd 1A Town Square Erith London DA8 1RE
3
COVENANT LOVE PEOPLE (CLP)
Company Registration Number - 07541137
Trustees' annual report for the year ended 28 February 2025
Financial review
The charity's financial position at the end of the year ended 28 February 2025
The financial position of the charity at 28 February 2025 and comparatives for the prior period, as more fully detailed in the accounts, can be summarised as follows:-
| Net income Total unrestricted funds Restricted revenue funds Total restricted funds Total funds Unrestricted revenue funds available for the general purposes of the charity |
2025 2024 £ £ |
|---|---|
| 2,886 (1,365) |
|
| 354,853 351,967 |
|
| 354,853 351,967 |
|
| 25,885 25,885 |
|
| 25,885 25,885 |
|
| 380,738 377,852 |
Financial review of the position at the reporting date, 28 February 2025 .
During the year, income of £224,702 (£206,156 in 2024) was received as voluntary donations and gift aid. The net movement in funds for the period, as shown in the statement of financial activities, for the period was a rurplus of 2,886 (deficit £1,365 in 2024). The value of the Covenant Love Chapel's net assets as at 28 February 2025 is £380,738 (£377,852 in 2024).
Policies on reserves.
Restricted funds
Restricted funds are to be used for specific purposes as specified within the objects of the charity. Expenditure, which meets these criteria, will be identified to the fund, together with a fair allocation of management and support costs. There was restricted fund during the year which was expended for the purpose it was intended for.
Unrestricted funds
Unrestricted funds are donations and other incomes received or generated for the objects of the charity without further specified purpose and are available for general funds.
Details of the independent examiner
Adeniyi Zaccheus
Chartered Certified Accountant
1A Town Square
Erith Kent
DA8 1RE
4
COVENANT LOVE PEOPLE (CLP)
Company Registration Number - 07541137
Trustees' annual report for the year ended 28 February 2025
Statement of the directors trustees' Responsibilities
The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Companies Act 2006, the Charities Act 2011 and the Charities (Accounts and Reports) Regulations 2008. Notwithstanding the explicit requirement in the extant statutory regulations,the Charities (Accounts and Reports) Regulations 2008, to prepare the financial statements in accordance with the SORP 2005, in view of the fact that the SORP 2005 has been withdrawn, the Trustees determined to interpret this responsibility as requiring them to follow current best practice and prepare the accounts according to the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), .
In particular, the Companies Act 2006 and charity law require the Board of Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of the surplus or deficit of the charity. In preparing those financial statements the Board is required to :-
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to prepare the accounts in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).
-
select suitable accounting policies and apply them consistently;
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make judgements and estimates that are reasonable and prudent;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business;
-
state whether applicable accounting standards and statements of recommended practice have been followed, subject to any material
-
departures disclosed and explained in the financial statements;
The law requires that the trustees must not approve the accounts unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the surplus or deficit of the charity for the year.
The trustees are also responsible for maintaining adequate accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which are sufficient to show and explain the charity's transactions and enable them to ensure that the financial statements comply with the Companies Act 2006 and comply with regulations made under the Charities Act. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are also responsible for the contents of the trustees' report, and the statutory responsibility of the Independent Examiner in relation to the Trustees' report is limited to examining the report and ensuring that , on the face of the report, there are no material inconsistencies with the figures disclosed in the financial statements.
5
COVENANT LOVE PEOPLE (CLP)
Company Registration Number - 07541137
Trustees' annual report for the year ended 28 February 2025
Method of preparation of accounts - Small company provisions
The financial statements are set out on pages 9 to 20.
The financial statements have been prepared implementing the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), and in accordance with the Financial Reporting Standard 102, (effective 1st January 2016)
These financial statements have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006. applicable to companies subject to the small companies regime.
This report was approved by the board of trustees on 6 August 2025.
Mr. Olubanji Adeniran Director and trustee
6
COVENANT LOVE PEOPLE (CLP)
Report of the independent examiner to the trustees of the charitable company on the accounts for the year ended 28 February 2025
I report to the trustees on my examination of the financial statements of the charitable company on pages 12 to 20 for the year ended 28 February 2023 which have been prepared in accordance with the Charities Act 2011 (the Act) and with the Financial Reporting Standard 102, (effective 1st January 2016) as modified by FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), published by the Charity Commission in England & Wales (CCEW) , and under the historical cost convention and the accounting policies set out on page 12.
Respective responsibilities of the trustees and the Independent Examiner and the basis of the report
As described on page 5, you, the charitable company's Trustees, who are also the Directors of the Company for the purposes of Company law, are responsible for the preparation of the financial statements in accordance with the Companies Act 2006, the Charities Act 2011 and all other applicable law and with United Kingdom Generally Accepted Accounting Practice, applicable to smaller entities, and for being satisfied that the financial statements give a true and fair view.
The trustees consider that the audit requirement of Section 144(1) of the Charities Act 2011 (the Act) does not apply, and that there is no requirement in the memorandum and articles of the charity for the conducting of an audit, and that the accounts do not require an audit in accordance with Part 16 of the Companies Act 2006 and that no member or members have requested an audit pursuant to Section 476 of the Companies Act 2006. As a consequence, the Trustees have elected that the financial statements be subject to independent examination.
Having satisfied myself that the financial statements are not required to be audited under any legal provision, or otherwise, and are eligible for independent examination, it is my responsibility to:-
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a) examine the financial statements of the charity under Section 145 of the Act;
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b) follow the applicable procedures in the Directions given by the Charity Commission under section 145(5)(b) of the Act.
Basis of Independent examiner's statement and scope of work undertaken
I report in respect of my examination of the charity's financial statements carried out under s145 of the Act. In carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act setting out the duties of an independent examiner in relation to the conducting of an independent examination. An independent examination includes a review of the accounting records kept by the charitable company and of the accounting systems employed by the charitable company and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeking explanations from you, as trustees, concerning such matters. The purpose of the examination is to establish as far as possible that there have been no breaches of charity legislation and that, on a test basis of evidence relevant to the amounts and disclosures made, the financial statements comply with the SORP.
The procedures undertaken do not provide all the evidence that would be required in an audit, and information supplied by the trustees in the course of the examination is not subjected to audit tests or enquiries and does not cover all the matters that an auditor would consider in arriving at an opinion. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide
Consequently, I do not express an audit opinion on the view given by the financial statements, and in particular, I express no opinion as to whether the financial statements give a true and fair view of the affairs of the charity, and my report is limited to the matters set out in the statement below.
7
COVENANT LOVE PEOPLE (CLP)
I planned and performed my examination so as to satisfy myself that the objectives of the independent examination are achieved and before finalising the report I obtained written assurances from the trustees of all material matters.
Independent examiner's statement, report and opinion
Attention is drawn to the accounting policy stating that, notwithstanding the explicit requirement in the extant statutory regulations, the Charities (Accounts and Reports) Regulations 2008, to prepare the financial statements in accordance with the SORP 2005, in view of the fact that the SORP 2005 has been withdrawn, and in order to accord with current best practice, the Trustees have determined to prepare the financial statements in accordance with the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), . I concur with this approach, and any references in my report to the regulations should be read subject to this comment.
Subject to the limitations upon the scope of my work as detailed above, I have completed my examination: and can confirm that:-
The accounts of this charitable company are not required to be audited under Part 16 of the Companies Act 2006;
This is a report in respect of an examination carried out under 145 of the Act and in accordance with Directions given by the Charity Commission under section 145(5)(b) of the Act which may be applicable;
and that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:-
accounting records were not kept in respect of the charity as required by Section 386 of the Companies Act 2006 and Section 130 of The Charities Act 2011;
the financial statements do not accord with those records; or
the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in section 396 of the Companies Act 2006 other than any requirement that the accounts give a 'true and fair' view, which is not a matter considered as part of an independent examination;
have not been prepared in accordance with the methods and principles set out in the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
Adeniyi Zaccheus - Independent examiner
Chartered Certified Accountant 1A Town Square Erith Kent DA8 1RE
This report was signed on 6 August 2025
8
COVENANT LOVE PEOPLE (CLP) - Statement of Financial Activities for the year ended 28 February 2025
Statement of financial activities (including the income and expenditure account for the year ended 28 February 2025, as required by the Companies Act 2006)
| Income: Donations Investments Other Total income Expenditure on: Charitable activities Total expenditure Net income for the year Reconciliation of funds:- Total funds brought forward Total funds carried forward Net movement in funds |
Current year Unrestricted funds 2025 £ 211,881 12,821 - 224,702 221,816 221,816 2,886 2,886 351,967 354,853 |
Current year Restricted funds 2025 £ - - - - - - - - 25,885 25,885 |
Current year Total funds 2025 £ 211,881 12,821 - 224,702 221,816 221,816 2,886 2,886 377,852 380,738 |
Prior year Total funds 2024 £ 190,215 15,349 592 |
|---|---|---|---|---|
| 206,156 | ||||
| 207,521 | ||||
| 207,521 | ||||
| (1,365) | ||||
| (1,365) 379,217 |
||||
| 377,852 |
The 'SORP Ref' indicated above is the classification of income set out in the formal SORP documents. As required by paragraph 4.60 of the SORP, the brought forward and carried forward funds above have been agreed to the Balance Sheet.
A separate Statement of total recognised gains and losses is not required as this statement includes all recognised gains and losses.
All the prior year transactions were unrestricted items, and no further analysis is required
All activities derive from continuing operations
COVENANT LOVE PEOPLE (CLP) - Resources applied in the year ended 28 February 2025 towards fixed assets for Charity use:-
| Funds generated in the year as detailed in the SOFA Resources applied on functional fixed assets Net resources available to fund charitable activities |
2025 £ 2,886 (26,066) (23,180) |
2024 £ (1,365) (39,062) |
|---|---|---|
| (40,427) |
The resources applied on fixed assets for charity use represents the cost of additions less proceeds of any disposals.
The notes attached on pages 12 to 20 form an integral part of these accounts.
9
COVENANT LOVE PEOPLE (CLP) - Statement of Financial Activities for the year ended 28 February 2025
Movements in revenue and capital funds for the year ended 28 February 2025
Revenue accumulated funds
| Unrestricted funds 2025 £ 351,967 2,886 354,853 Closing revenue funds 354,853 Summary of funds Unrestricted and Designated funds 2025 £ Revenue accumulated funds 354,853 Total funds 354,853 Recognised gains and losses before transfers Accumulated funds brought forward |
Restricted funds 2025 £ 25,885 - 25,885 25,885 Restricted funds 2025 £ 25,885 25,885 |
Total funds 2025 £ 377,852 2,886 380,738 380,738 Total funds 2025 £ 380,738 380,738 |
Last year Total funds 2024 £ 379,217 (1,365) |
|---|---|---|---|
| 377,852 | |||
| 377,852 | |||
| Last year Total funds 2024 £ 377,852 |
|||
| 377,852 |
COVENANT LOVE PEOPLE (CLP)
Income and expenditure account for the year ended 28 February 2025 as required by the Companies Act 2006
| the Companies Act 2006 | ||
|---|---|---|
| Income Income from operations Income from investments, other than interest receivable Other operating income Gross income in the year before exceptional items Expenditure Charitable expenditure, excluding depreciation Depreciation Governance costs Interest payable 5 Total expenditure in the year Retained surplus for the financial year All activities derive from continuing operations Investment income and interest |
2025 £ 211,881 12,821 - 224,702 187,222 14,294 1,200 19,100 221,816 2,886 |
2024 £ 190,215 15,349 592 |
| 206,156 175,063 10,779 1,200 20,479 |
||
| 207,521 | ||
| (1,365) | ||
In accordance with the provisions of the Companies Act 2006, the headings and subheadings used in the Income and Expenditure account have been adapted to reflect the special nature of the charity's activities.
The notes attached on pages 12 to 20 form an integral part of these accounts.
10
COVENANT LOVE PEOPLE (CLP) - Balance Sheet as at 28 February 2025
| Notes | 2025 | 2024 | |||
|---|---|---|---|---|---|
| £ | £ | ||||
| Fixed assets | |||||
| Tangible assets | 7 | 531,972 | 520,200 | ||
| Total fixed assets | 531,972 | 520,200 | |||
| Current assets | |||||
| Cash at bank and in hand | 35,252 | 45,088 | |||
| Total current assets | 35,252 | 65,088 | |||
| Creditors: amounts falling due within | |||||
| one year | 8 | (22,836) | (22,482) | ||
| Net current assets | 12,416 | 42,606 | |||
| Net assets | 544,388 | 562,806 | |||
| Creditors: amounts falling due after more | Creditors: amounts falling due after more | ||||
| than one year | 9 | (163,650) | (184,955) | ||
| The total net assets of the charity | 380,738 | 377,852 | |||
| The total net assets of the charity are funded by the funds of the charity, as follows:- | The total net assets of the charity are funded by the funds of the charity, as follows:- | The total net assets of the charity are funded by the funds of the charity, as follows:- | |||
| Restricted funds | |||||
| Restricted revenue funds | 12 | 25,885 | 25,885 | ||
| Unrestricted funds | |||||
| Unrestricted revenue funds | 12 | 354,853 | 351,967 | ||
| Total charity funds | 380,738 | 377,852 |
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. The charity is subject to independent examination under charity legislation, and the report of the independent examiner is on page 8.
The financial statements have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006. applicable to companies subject to the small companies regime.
Mr. Olubanji Adeniran Trustee
Approved by the board of trustees on 6 August 2025
The notes attached on pages 12 to 20 form an integral part of these accounts.
11
COVENANT LOVE PEOPLE (CLP)
Notes to the Accounts for the year ended 28 February 2025
1 Accounting policies
Policies relating to the production of the accounts.
Basis of preparation and accounting convention
The accounts have been prepared on the accruals basis, under the historical cost convention, and in accordance with the Financial Reporting Standard 102, (effective 1st January 2016) and 'FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), published by the Charity Commission in England & Wales (CCEW) , effective January 2016, , and in accordance with all applicable law in the charity's jurisdiction of registration, except that the charity has prepared the financial statements in accordance with the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), in preference to the previous SORP, the SORP 2005, which has been withdrawn, notwithstanding the fact that the extant statutory regulations, the Charities (Accounts and Reports) Regulations 2008 refer explicitly to the SORP 2005. This has been done to accord with current best practice.
Going Concern
The charitable activities are entirely dependent on continuing grant aid and voluntary donations as well as trading revenues. As a consequence, the going concern basis is dependent on the future flow of these uncertain funding streams. Accordingly, the trustees have obtained forecasts and, after reviewing the financial forecasts for future periods to 28 February 2023, the trustees are satisfied that, at the time of approving the financial statements, it is appropriate to adopt the going concern basis in preparing the financial statements. Other than these matters, the trustees are not aware of any material uncertainites about the charity's ability to continue as a going concern.
Risks and future assumptions
The charity is a public benefit entity.
The trustees are responsible to manage risks faced by the charity. The risks faced by the charity are financial and nonfinancial. The trustees have put in place management framework to manage the risks. Some of the risks faced by the charity are liquidity and funding, reputational, regulatory and operational.
Policies relating to categories of income and income recognition.
Nature of income
Gross income represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Categories of Income
Income is categorised as income from exchange transactions (contract income) and income from non-exchange transactions (gifts), investment income and other income.
Income from exchange transactions is received by the charity for goods or services supplied under contract or where entitlement is subject to fulfilling performance related conditions. The income the charity receives is approximately equal in value to the goods or services supplied by the charity to the purchaser.
Income from a non-exchange transaction is where the charity receives value from the donor without providing equal value in exchange, and includes donations of money, goods and services freely given without giving equal value in exchange.
12
COVENANT LOVE PEOPLE (CLP)
Notes to the Accounts for the year ended 28 February 2025
Income recognition
Income, whether from exchange or non exchange transactions, is recognised in the statement of financial activities (SOFA) on a receivable basis, when a transaction or other event results in an increase in the charity’s assets or a reduction in its liabilities and only when the charity has legal entitlement, the income is probable and can be measured reliably.
Income subject to terms and conditions which must be met before the charity is entitled to the resources is not recognised until the conditions have been met.
All income is accounted for gross, before deducting any related fees or costs.
Policies relating to expenditure on goods and services provided to the charity.
Volunteers
Tangible fixed assets
Tangible fixed assets are measured at their original cost value, or subsequent revaluation, or if donated, as described above. Cost value includes all costs expended in bringing the asset into its intended working condition.
Depreciation has been provided at the following rates in order to write off the assets to their anticipated residual value over their estimated useful lives.
Building 0 % straight line Plant & Machinery 20 % straight line Motor Vehicle 25 % straight line
Debtors
Debtors are measured at their recoverable amounts at the balance sheet date.
Creditors and provisions
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Cash and bank balances
Cash held by the charity is included at the amount actually held and counted at the year end. Bank balances, whether in credit or overdrawn, are shown at the amounts properly reconciled to the bank statements.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.
Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of an appeal or as implied by law.
There are no endowment funds.
13
COVENANT LOVE PEOPLE (CLP)
Notes to the Accounts for the year ended 28 February 2025
2 Liability to taxation
The trustees consider that the charity satisfies the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 for UK corporation tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by chapter 3 part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively on the specific charitable objects of the charity and for no other purpose. Value Added Tax is not recoverable by the charity, and is therefore included in the relevant costs in the Statement of financial activities.
3 Winding up or dissolution of the charity
If upon winding up or dissolution of the charity there remain any assets, after the satisfaction of all debts and liabilities, the assets represented by the accumulated fund shall be transferred to some other charitable body or bodies having similar objects to the charity.
4 Net surplus before tax in the financial year
| 4 Net surplus before tax in the financial year |
4 Net surplus before tax in the financial year |
4 Net surplus before tax in the financial year |
|||
|---|---|---|---|---|---|
| The net surplus before tax in the financial year is stated after charging:- Depreciation of owned fixed assets 5 Interest payable Loan interest 6 Salary costs Gross Salaries excluding trustees and key management personnel Total salaries, wages and related costs 7 Tangible fixed assets Current Year Land and Buildings Plant & machinery £ £ Cost At 1 March 2024 487,198 50,512 Additions - 787 At 28 February 2025 487,198 51,299 Depreciation At 1 March 2024 - 40,760 Charge for the year - 3,038 At 28 February 2025 - 43,798 Net book value At 28 February 2025 487,198 7,501 At 29 February 2024 487,198 9,752 |
2025 £ 14,294 |
2024 £ 10,779 |
|||
| 2025 £ 19,100 |
2024 £ 20,479 2024 £ 37,426 |
||||
| 2025 £ 44,918 |
|||||
| 44,918 | 37,426 | ||||
| Land and Buildings £ 487,198 - |
Plant & machinery £ 50,512 787 |
Motor vehicle £ 31,000 25,279 |
Total £ 568,710 26,066 |
||
| 487,198 | 51,299 | 56,279 | 594,776 | ||
| - - |
40,760 3,038 |
7,750 11,256 |
48,510 14,294 |
||
| - | 43,798 | 19,006 | 62,804 | ||
| 487,198 | 7,501 | 37,273 | 531,972 | ||
| 487,198 | 9,752 | 23,250 | 520,200 |
14
COVENANT LOVE PEOPLE (CLP)
Notes to the Accounts for the year ended 28 February 2025
| 8 Creditors: amounts falling due within one year 2025 £ Bank loans and overdrafts 19,640 Accruals 1,370 PAYE, NIC VAT and other taxes 680 Other creditors 1,146 22,836 9 Creditors: amounts falling due after one year 2025 £ Bank loans and overdrafts 163,650 10 Income and expenditure account summary 2025 £ At 1 March 2024 377,852 Surplus after tax for the year 2,886 At 28 February 2025 380,738 11 Particulars of how particular funds are represented by assets and liabilities At 28 February 2025 Unrestricted Designated Restricted funds funds funds £ £ £ Tangible fixed assets 531,972 - - Investments at valuation:- Current assets 9,367 25,885 Current liabilities (22,836) - - Long term liabilities (163,650) - - 354,853 - 25,885 At 1 March 2024 Unrestricted Designated Restricted funds funds funds £ £ £ Tangible fixed assets 520,200 - - Current assets 39,203 - 25,885 Current liabilities (22,482) - - Long term liabilities (184,955) - - 351,966 - 25,885 |
8 Creditors: amounts falling due within one year 2025 £ Bank loans and overdrafts 19,640 Accruals 1,370 PAYE, NIC VAT and other taxes 680 Other creditors 1,146 22,836 9 Creditors: amounts falling due after one year 2025 £ Bank loans and overdrafts 163,650 10 Income and expenditure account summary 2025 £ At 1 March 2024 377,852 Surplus after tax for the year 2,886 At 28 February 2025 380,738 11 Particulars of how particular funds are represented by assets and liabilities At 28 February 2025 Unrestricted Designated Restricted funds funds funds £ £ £ Tangible fixed assets 531,972 - - Investments at valuation:- Current assets 9,367 25,885 Current liabilities (22,836) - - Long term liabilities (163,650) - - 354,853 - 25,885 At 1 March 2024 Unrestricted Designated Restricted funds funds funds £ £ £ Tangible fixed assets 520,200 - - Current assets 39,203 - 25,885 Current liabilities (22,482) - - Long term liabilities (184,955) - - 351,966 - 25,885 |
8 Creditors: amounts falling due within one year 2025 £ Bank loans and overdrafts 19,640 Accruals 1,370 PAYE, NIC VAT and other taxes 680 Other creditors 1,146 22,836 9 Creditors: amounts falling due after one year 2025 £ Bank loans and overdrafts 163,650 10 Income and expenditure account summary 2025 £ At 1 March 2024 377,852 Surplus after tax for the year 2,886 At 28 February 2025 380,738 11 Particulars of how particular funds are represented by assets and liabilities At 28 February 2025 Unrestricted Designated Restricted funds funds funds £ £ £ Tangible fixed assets 531,972 - - Investments at valuation:- Current assets 9,367 25,885 Current liabilities (22,836) - - Long term liabilities (163,650) - - 354,853 - 25,885 At 1 March 2024 Unrestricted Designated Restricted funds funds funds £ £ £ Tangible fixed assets 520,200 - - Current assets 39,203 - 25,885 Current liabilities (22,482) - - Long term liabilities (184,955) - - 351,966 - 25,885 |
2025 £ 19,640 1,370 680 1,146 |
2024 £ 19,640 1,370 326 1,146 |
|---|---|---|---|---|
| 22,836 | 22,482 | |||
| 2025 £ 163,650 |
2024 £ 184,955 |
|||
| 2025 £ 377,852 2,886 |
2024 £ 379,217 (1,365) |
|||
| 380,738 | 377,852 | |||
| Total funds £ 531,972 35,252 (22,836) (163,650) |
||||
| 354,853 | - | 25,885 | 380,738 | |
| Unrestricted funds £ 520,200 39,203 (22,482) (184,955) |
Designated funds £ - - - - |
Restricted funds £ - 25,885 - - |
Total Funds £ 520,200 65,088 (22,482) (184,955) |
|
| 351,966 | - | 25,885 | 377,851 |
15
COVENANT LOVE PEOPLE (CLP)
Notes to the Accounts for the year ended 28 February 2025
12 Change in total funds over the year as shown in Note 11 , analysed by individual funds
| Funds brought forward from 2024 £ Unrestricted and designated funds:- Unrestricted revenue funds 351,967 Total unrestricted and designated funds 351,967 Total restricted funds 25,885 Total charity funds 377,852 13 Analysis of movements in funds over the year Income 2025 £ Unrestricted and designated funds:- Unrestricted revenue funds 224,702 |
Funds brought forward from 2024 £ 351,967 |
Movement in funds in 2025 £ 2,886 |
Transfers between funds in 2025 £ - |
Funds carried forward to 2026 £ 354,853 |
|---|---|---|---|---|
| 351,967 | 2,886 | - | 354,853 | |
| 25,885 | - | - | 25,885 | |
| 377,852 | 2,886 | - | 380,738 | |
| Expenditure 2025 £ (221,816) |
Other Gains & Losses 2025 £ - |
Movement in funds 2025 £ 2,886 |
16
COVENANT LOVE PEOPLE (CLP)
Detailed analysis of income and expenditure for the year ended 28 February 2025 as required by the SORP 2015
This analysis is classsified by conventional nominal descriptions and not by activity.
| 14 Donations Donations and gifts from individuals Total donations and gifts from individuals 15 Investment income Property Rental Income Total investment income 16 Other income and gains Current year Sundry other income Total other income Small donations individually less than £1000 |
Current year Unrestricted funds 2025 £ 211,881 |
Current year Restricted funds 2025 £ - |
Current year Total funds 2025 £ 211,881 211,881 Current year Total funds 2025 £ 12,821 12,821 Current year Total funds 2025 £ - - |
Prior year Total funds 2024 £ 190,215 |
|---|---|---|---|---|
| 211,881 | - | 190,215 | ||
| Current year Unrestricted funds 2025 £ 12,821 |
Current year Restricted funds 2025 £ - |
Prior year Total funds 2024 £ 15,349 |
||
| 12,821 | - | 15,349 | ||
| Current year Unrestricted funds 2025 £ - |
Current year Restricted funds 2025 £ - |
Prior year Total funds 2024 £ 592 |
||
| - | - | 592 |
17
COVENANT LOVE PEOPLE (CLP)
Detailed analysis of income and expenditure for the year ended 28 February 2025 as required by the SORP 2015
17 Expenditure on charitable activities - Direct spending
| Current year Current year Current year Unrestricted funds Restricted funds 2025 2025 £ £ Gross wages and salaries - charitable activities 44,918 - Travel and Subsistence - Charitable Activities - - Honorarium 1,055 - Welfare 7,496 - Training 1,558 - Event 6,540 - Total direct spending 61,567 - Expenditure on charitable activities- Grant funding of activities Current year Current year Current year Unrestricted funds Restricted funds 2025 2025 £ £ Grants made to individuals 7,910 - Grants made to organisations 51,633 - Total grantmaking costs 59,543 - Current year Current year Current year Unrestricted funds Restricted funds 2025 2025 £ £ World Evangelical Mission (WEM) 37,542 - Central Office (COF) 11,405 - Festival of life (FOL) 600 - Magdalene Dove Ministries 600 - Compassion UK 736 - RCCG Comfort Heaven 100 - RCCG rivers of love 100 - RCCG UK Region 400 - RCCG VFP 50 The Covenant Church 100 51,633 - Breakdown of Grants made to organisations |
Current year Unrestricted funds 2025 £ 44,918 - 1,055 7,496 1,558 6,540 |
Current year Restricted funds 2025 £ - - - - - - |
Current year Total funds 2025 £ 44,918 - 1,055 7,496 1,558 6,540 61,567 Current year Total funds 2025 £ 7,910 51,633 |
Prior year Total funds |
|---|---|---|---|---|
| 2024 £ 37,426 7,995 950 1,114 2,232 10,103 |
||||
| 61,567 | - | 59,820 | ||
| Prior year Total funds 2024 £ |
||||
| 1,800 41,387 |
||||
| 59,543 | - | 59,543 | 43,187 | |
| Current year Unrestricted funds 2025 £ 37,542 11,405 600 600 736 100 100 400 50 100 |
Current year Restricted funds 2025 £ - - - - - - - - |
Current year Total funds 2025 £ 37,542 11,405 600 600 736 100 100 400 50 100 51,633 |
||
| 51,633 | - |
18 Expenditure on charitable activities- Grant funding of activities
18
COVENANT LOVE PEOPLE (CLP)
Detailed analysis of income and expenditure for the year ended 28 February 2025 as required by the SORP 2015
| 19 Current year Volunteer costs Travel and subsistence - volunteers Motor expenses - volunteers Premises expenses Rates and water charges Light heat and power Premises repairs, renewals and maintenance Property insurance Administrative overheads Telephone, fax and internet Stationery and printing Motor expenses Information and publications Sundry expenses Insurance Accountancy fees other than examination or audit fees Other legal and professional Financial costs Bank charges Loan interest Depreciation in total for the period Total support costs - Current year 20 Other expenditure - Governance costs Current year Independent examiner's fees Total governance costs Support costs for charitable activities |
Current year Unrestricted funds 2025 £ 6,509 3,367 - 20,698 17,767 6,944 3,704 6,579 - 50 58 - - 198 238 19,100 14,294 |
Current year Restricted funds 2025 £ - - - - - - - - - - - - - - - - - |
Current year Total funds 2025 £ 6,509 3,367 - 20,698 17,767 6,944 3,704 6,579 - 50 58 - - 198 238 19,100 14,294 99,506 Current year Total funds 2023 £ 1,200 1,200 |
Prior year Total funds 2024 £ - - 425 11,930 46,757 4,530 2,113 1,333 2,809 - 120 1,646 13 128 252 20,479 10,779 |
|---|---|---|---|---|
| 99,506 | - | 103,314 | ||
| Current year Unrestricted funds 2023 £ 1,200 |
Current year Restricted funds 2023 £ - |
- Prior year Total funds 2022 £ 1,200 |
||
| 1,200 | - | 1,200 | ||
19
COVENANT LOVE PEOPLE (CLP)
Detailed analysis of income and expenditure for the year ended 28 February 2025 as required by the SORP 2015
21 Total charitable expenditure Current year Total direct spending Total grantmaking costs Total support costs Total governance costs Total charitable expenditure
| Total charitable expenditure | ||||
|---|---|---|---|---|
| Current year Total direct spending Total grantmaking costs Total support costs Total governance costs Total charitable expenditure |
Current year Unrestricted funds 2025 £ 61,567 59,543 99,506 1,200 |
Current year Restricted funds 2025 £ - - - - |
Current year Total funds 2025 £ 61,567 59,543 99,506 1,200 221,816 |
Prior year Total funds 2024 £ 59,820 43,187 103,314 1,200 |
| 221,816 | - | 207,521 |
20