Registered Charity Number: 1147292
REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2021
FOR
THE ETERNAL SACRED ORDER OF THE MORNING STAR & SAINT MICHAEL STAR FOUNTAIN OF LIFE MONT ZION BOROUGH PARISH
THE ETERNAL SACRED ORDER OF THE MORNING STAR & SAINT MICHAEL STAR FOUNTAIN OF LIFE MONT ZION BOROUGH PARISH
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2021
| Page | |
|---|---|
| Report of the Trustees | 1 |
| Independent Examiner’s Report | 2 |
| Statement of Financial Activities | 3 |
| Balance Sheet | 4 |
| Notes to the Financial Statements | 5-8 |
| Detailed Statement of Financial Activities | 9-10 |
THE ETERNAL SACRED ORDER OF THE MORNING STAR & SAINT MICHAEL STAR FOUNTAIN OF LIFE MONT ZION BOROUGH PARISH
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2021
The Trustees present their Report with the Financial Statements of the charity for the year ended 31 January 2021. The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” issued in March 2005.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered charity number 1147292
Principal address
82 Wansunt Road Bexley Kent DA5 2DN
Trustees
Special Senior Apostle General S B Adenaike
Mother in Israel Lilieth Dawn Livingstone
Bankers
Barclays Bank Plc 93 Lewisham High Street London SE13 6BB
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes an unincorporated charity.
Risk management
The Trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
Approved by order of the Board of Trustees on 31st May 2024 and signed on its behalf by:
S. Adenaike
S B Adenaike
Trustee
1
INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF THE ETERNAL SACRED ORDER OF THE MORNING STAR & SAINT MICHAEL STAR FOUNTAIN OF LIFE MONT ZION BOROUGH PARISH
I report on the accounts for the year ended 31 January 2021 set out on pages three to eight.
Respective responsibilities of Trustees and Examiner
The charity’s Trustees are responsible for the preparation of the accounts. The charity’s Trustees consider that an independent examination is required.
It is my responsibility to:
-
Examine the accounts under Section 145 of the 2011 Act
-
To follow the procedures laid down in the General Directions given by the Charity Commission (under Section 145(5)(b) of the 2011 Act); and
-
To state whether particular matters have come to my attention.
Basis of the independent Examiner’s report
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 accounts, 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.
Independent Examiner’s 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 requirements
-
To keep accounting records in accordance with Section 130 of the 2011 Act; and
-
To prepare accounts which accord with the accounting records and to comply with the accounting requirements of the 2011 Act
have not been met; or
- (2) To which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
S. Kilaso
S. Kilaso (FCCA)
BRASAA LLP LONDON
31st May 2024
2
THE ETERNAL SACRED ORDER OF THE MORNING STAR & SAINT MICHAEL STAR FOUNTAIN OF LIFE MONT ZION BOROUGH PARISH
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JANUARY 2021
| 2021 | 2020 | ||
|---|---|---|---|
| Unrestricted | Total Funds | ||
| Funds | |||
| Note | £ | £ | |
| INCOMING RESOURCES | |||
| Incoming resources from charitable activities | |||
| Charitable activities | 37,589 | 25,594 | |
| ----------- | ----------- | ||
| Total incoming resources | 37,589 | 25,594 | |
| RESOURCES EXPENDED | |||
| Charitable activities | |||
| Charitable activities | 24,144 | 20,371 | |
| Governance costs | 0.00 | 0.00 | |
| ----------- | ----------- | ||
| Total resources expended | 24,144 | 20,371 | |
| ----------- | ----------- | ||
| NET INCOMING RESOURCES | 13,445 | 5,223 | |
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | 68,378 | 63,155 | |
| ----------- | ----------- | ||
| TOTAL FUNDS CARRIED FORWARD | 81,823 | 68,378 | |
| ====== | ====== |
These notes form part of the Financial Statements
3
THE ETERNAL SACRED ORDER OF THE MORNING STAR & SAINT MICHAEL STAR FOUNTAIN OF LIFE MONT ZION BOROUGH PARISH
BALANCE SHEET AT 31 JANUARY 2021
| 2021 |
2020 | |||
|---|---|---|---|---|
| Unrestricted | Total Funds | |||
| Funds | ||||
| Notes | £ | £ | £ | |
| FIXED ASSETS | ||||
| Tangible assets | 4 | 3,084 | 4,112 | |
| CURRENT ASSETS | ||||
| Debtors | 5 | 0.00 | 0.00 | |
| Restricted Funds (Savings) | 6 | |||
| Building Fund | 43,031 | 33,011 | ||
| Cash at bank and in hand | 7 | 38,792 | 37,965 | |
| ----------- | ----------- | |||
| 81,823 | 70,976 | |||
| CREDITORS | ||||
| Amounts falling due within one year | 8 | (2,884) | (6,710) | |
| ------------ | ------------ | |||
| NET CURRENT ASSETS | 78,939 | 64,266 | ||
| ------------ | ------------ | |||
| TOTAL ASSETS LESS CURRENT | ||||
| LIABILITIES | 82,023 | 68,378 | ||
| CREDITORS | ||||
| Amounts falling due after more than | 9 | |||
| one year | (200) |
(0.00) | ||
| -------------- | -------------- | |||
| NET ASSETS | 81,823 | 68,378 | ||
| ======== | ======== | |||
| FUNDS | ||||
| Unrestricted funds | 10 | 0.00 | 0.00 | |
| -------------- | -------------- | |||
| TOTAL FUNDS | 81,823 | 68,378 | ||
| ======== | ======== |
The Financial Statements were approved by the Board of Trustees on 31st May 2024 and were signed on its behalf by:
S. Adenaike
S B Adenaike
Trustee
The notes form part of these Financial Statements
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THE ETERNAL SACRED ORDER OF THE MORNING STAR & SAINT MICHAEL STAR FOUNTAIN OF LIFE MONT ZION BOROUGH PARISH
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2021
1. ACCOUNTING POLICIES
Accounting convention
The Financial Statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), the Charities Act 2011, and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities.
Incoming resources
All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
Resources expended
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular heading they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write-off each asset over its estimated useful life.
Equipments - 25% on reducing balance
Taxation
The charity is exempt from tax on its charitable activities.
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 particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the Financial Statements.
2. TRUSTEES’ REMUNERATION AND BENEFITS
No Trustee received remuneration under PAYE for the year ended 31 January 2021 and also for the year ended 31 January 2020.
3. STAFF COSTS
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Wages and salaries | 0.00 | 0.00 |
| ===== | ===== |
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THE ETERNAL SACRED ORDER OF THE MORNING STAR & SAINT MICHAEL STAR FOUNTAIN OF LIFE MONT ZION BOROUGH PARISH
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 JANUARY 2021
4. TANGIBLE FIXED ASSETS
| Equipments | Furnitures | Plant and | |
|---|---|---|---|
| Machinery | |||
| £ | £ | £ | |
| COST | |||
| At 1 February 2020 | 4,112 | 0.00 | 0.00 |
| Additions | 0.00 | 0.00 | 0.00 |
| ----------- | ----------- | -------------- | |
| At 31 January 2021 | 4,112 | 0.00 | 0.00 |
| ----------- | ----------- | --------------- | |
| DEPRECIATION | |||
| At 1 February 2020 | 0.00 | 0.00 | 0.00 |
| Charge for year | 1,028 | 0.00 |
0.00 |
| ------------ | ----------- | --------------- | |
| At 31 January 2021 | 1,028 | 0.00 | 0.00 |
| ------------- | ----------- | --------------- | |
| NET BOOK VALUE | |||
| At 31 January 2021 | 3,084 | 0.00 | 0.00 |
| ====== | ====== | ======== | |
| At 31 January 2020 | 4,112 | 0.00 | 0.00 |
| ====== | ====== | ======== | |
| Fixtures and | Motor | Totals | |
| Fittings | vehicles | ||
| £ | £ | £ | |
| COST | |||
| At 1 February 2020 | 0.00 | 0.00 | 4,112 |
| Additions | 0.00 | 0.00 | 0.00 |
| ----------- | ----------- | ------------- | |
| At 31 January 2021 | 0.00 | 0.00 | 4,112 |
| ----------- | ----------- | ------------- | |
| DEPRECIATION | |||
| At 1 February 2020 | 0.00 | 0.00 | 0.00 |
| Charge for year | 0.00 | 0.00 | 1,028 |
| ----------- | ----------- | -------------- | |
| At 31 January 2021 | 0.00 | 0.00 | 1.028 |
| ----------- | ----------- | -------------- | |
| NET BOOK VALUE | |||
| At 31 January 2021 | 0.00 | 0.00 | 3,084 |
| ====== | ====== | ======== | |
| At 31 January 2020 | 0.00 | 0.00 | 4,112 |
| ====== | ====== | ======== |
5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020 £ £ Other debtors 0.00 0.00 ====== ======
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THE ETERNAL SACRED ORDER OF THE MORNING STAR & SAINT MICHAEL STAR FOUNTAIN OF LIFE MONT ZION BOROUGH PARISH
NOTES TO THE FINANCIAL STATEMENTS – CONTINUED FOR THE YEAR ENDED 31 JANUARY 2021
6. CURRENT ASSET INVESTMENTS
| 6. | CURRENT ASSET INVESTMENTS | ||||
|---|---|---|---|---|---|
| 2021 | 2020 | ||||
| £ | £ | ||||
| Restricted funds (Savings) | |||||
| Building Fund Account | 43,031 | 33,011 | |||
| ==== | ==== | ||||
| 7. | CASH AT BANK AND IN HAND | ||||
| 2021 | 2020 | ||||
| Total funds | total funds | ||||
| £ | £ | ||||
| Cash in hand | 0.00 | 0.00 | |||
| Barclays Current Account | 37,929 | 37,102 | |||
| Alms/Mercy Account | 863 | 863 | |||
| Building Fund Account | 43,031 | 33,011 | |||
| Restricted Funds (Savings) | 0.00 | 0.00 | |||
| --------- | --------- | ||||
| Total | 81,823 | 70,976 | |||
| ===== | ===== | ||||
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||
| 2021 | 2020 | ||||
| £ | £ | ||||
| Bank loans and overdrafts | 0.00 | 0.00 | |||
| Rent | 2,884 | 6,710 | |||
| Taxation and social security | 0.00 | 0.00 | |||
| --------- | --------- | ||||
| 2,884 | 6,710 | ||||
| ===== | ===== | ||||
| 9. | CREDITORS: AMOUNTS FALLING DUE AFTER ONE YEAR | ||||
| 2021 | 2020 | ||||
| £ | £ | ||||
| Musical, Welfare & Safeguarding | 200 | 0.00 | |||
| ====== | ====== | ||||
| 10. | MOVEMENT IN FUNDS | ||||
| Net movement | |||||
| At | 01.02.20 | in funds at 31.01.21 |
|||
| £ | £ | £ | |||
| Restricted/Unrestricted funds | |||||
| General fund | 68,378 | 13,445 | 81,823 |
||
| ---------- | --------- | ----------- |
|||
| TOTAL FUNDS | 68,378 | 13,445 | 81,823 |
||
| ====== | ===== | ====== |
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THE ETERNAL SACRED ORDER OF THE MORNING STAR & SAINT MICHAEL STAR FOUNTAIN OF LIFE MONT ZION BOROUGH PARISH
NOTES TO THE FINANCIAL STATEMENTS – CONTINUED FOR THE YEAR ENDED 31 JANUARY 2021
10. MOVEMENTS IN FUNDS – CONTINUED
Net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement In | |
|---|---|---|---|
| resources | expended | funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 37,589 | (24,144) | 13,445 |
| ----------- | ------------- | ---------- | |
| TOTAL FUNDS | 37,589 | (24,144) | 13,445 |
| ====== | ======= | ====== |
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THE ETERNAL SACRED ORDER OF THE MORNING STAR & SAINT MICHAEL STAR FOUNTAIN OF LIFE MONT ZION BOROUGH PARISH
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JANUARY 2021
| 2021 | 2020 | |
|---|---|---|
| £ |
£ | |
| INCOMING RESOURCES | ||
| Incoming resources from charitable activities | ||
| Thanksgiving/Tithes & Vows | 29,204 | 21,308 |
| Gift Aid | 2,318 | 1,530 |
| Alms/Mercy/Cash in Hand | 1,646 | 650 |
| Grants/Holy Land Tour Member’s Contributions | 4,400 | 2,040 |
| Interest | 21 | 66 |
| --------------- | ------------- | |
| Total incoming resources | 37,589 | 25,594 |
| --------------- | ------------- | |
| RESOURCES EXPENDED | ||
| Charitable activities | ||
| Wages | 0.00 | 0.00 |
| Rent | 6,710 | 3,806 |
| Motor Repairs/Transportation Expenses | 0.00 | 2,110 |
| Alms | 0.00 | 817 |
| Great Ormond St Hospital | 0.00 | 300 |
| Bereavement Expense/Support | 2,100 | 300 |
| Van Insurance & Road Tax | 100 | 1,847 |
| Good to Give Admin Servs for Gift Aid | 400 | 0.00 |
| Musical Equipment/Expenses | 3,130 | 1,463 |
| Catering | 0.00 | 0.00 |
| Printing, Telephone, Post & Stationery | 0.00 | 835 |
| Welfare Loan/Expense | 0.00 | 2,000 |
| Decoration/Media/Events | 2,158 | 400 |
| Pilgrimage/Holy land | 4,553 | 0.00 |
| General Conference Expense | 0.00 | 200 |
| TFL | 0.00 | 103 |
| Spiritual Materials | 307 | 467 |
| Travel Expenses/Flights | 4,236 | 3,209 |
| Hospitality/Refreshment | 0.00 | 634 |
| Youth Ministries | 0.00 | 0.00 |
| Charitable Donations | 250 | 690 |
| Evangelical Ministry | 0.00 | 0.00 |
| CACC (African & Caribbean Council) | 200 | 575 |
| Baptism Pool Hire/Hall Hire | 0.00 | 600 |
| Bank Charges | 0.00 | 15 |
| ----------- | ------------ | |
| 24,144 | 20,371 | |
| Governance costs | ||
| Security | 0.00 | 0.00 |
| Legal and professional fees | 0.00 | 0.00 |
| Insurances | 0.00 | 0.00 |
| Bank charges and interest | 0.00 | 0.00 |
| Carried forward | 0.00 | 0.00 |
This page does not form part of the statutory Financial Statements
9
THE ETERNAL SACRED ORDER OF THE MORNING STAR & SAINT MICHAEL STAR FOUNTAIN OF LIFE MONT ZION BOROUGH PARISH
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JANUARY 2021
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Governance costs | ||
| Brought forward | 0.00 | 0.00 |
| Depreciation of tangible fixed assets | 1,028 | 1,780 |
| Hire purchase | 0.00 | 0.00 |
| ---------- | ---------- | |
| 25,172 | 22,151 | |
| ---------- | ---------- | |
| Total resources expended (less depreciation) | 24,144 | 20,371 |
| ---------- | ----------- | |
| Net income | 13,445 | 5,223 |
| ====== | ====== |
This page does not form part of the statutory Financial Statements
10