HOLY CROSS CHURCH INTERNATIONAL (HCCI) ACCOUNTS AND REPORTS FOR THE YEAR ENDED 31 DECEMBER 2023 CHARITY REGISTERED NUMBER 1148249
HOLY CROSS CHURCH INTERNATIONAL (HCCI) REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023. CONTENTS Page Contents Page Administrative Information Directors, and Trustees, Report 4* Independent Examinerfs Report Statement of Financial Activities Balano Sheet Notes to the Financial Ststements 10-11
HOLY CROSS CHURCH INTERNATIONAL (HCCI) ADMINISTRATIVE INFORMATION FOR THE YEAR ENDED 31 DECEMBER 2023. BOARD OF TRUSTEES O Adebambo............. .............Chair Hannah Adebambo ....... .Treasurer Emmanuel Ige Abereoje.............Member Christiana Monguru.. ..Member CHARITY NUMBER 1148249 REGISTERED OFFICE Sojoumer Truth Communty Centre 161 Sumner Road London SE15 6JL INDEPENDENT EXAMINER London Accountancy Practice. 161 Sumner Road London SE15 6JL BANKERS Lloyds Bank PIC Camberwell Church Street Cambetwell London SE5
HOLY CROSS CHURCH INTERNATIONAL (HCCI) DIRECTORS. AND TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2023. The Board of Trustees of HOLY CROSS CHURCH INTERNATIONAL {HCCI is pleased to present its report and the independently examined financial statements for the year ended 31 Dember 2023. OBJECTS, ORGANISATION AND ACTIVITIES The aim and the objectives for vthich the Ministry is established and empowered to execute are: To advan the Christian religion in England and Vrfd.de for the benefrt of the public through the holding of prayers, meetings, lectures. public celebration of religious festivals, producing l and or distributing literature on Christianity to enlighten others aboLrt Christian religion. VALUES: The Holy Cross Church International (HCCI) is a family oriented Church where love is practically and genuinely demonstrateé to all. We strongly believe that God does have purpose for everyone and thus we believe that through the preaching of the undiluted Word of God and demonstrating His love and power of '¢an do, Philippians 4.13. peoples, potential could be unearthed. DEVELOPMENTS, ACTIVITIES AND ACHIEVEMENTS: The Church continues to meet both the physical and spirttual needs of its members. The monthly 3 day prayer and fasting continu8s and testimonies abound. The members are getting deeper in the Word of God especially during the Bible Studies. Individual lives and families are being touched and changed and members rAn quantify and qualify the positive impacts of the Word over their lives. The trustees have made a conscious decision to continue the online serviS as the members find that to be convenient for now. PUBLIC BENEFITS.. As part of our commitment to impact our communty, VR continue to make sure that our activities are not confined to the church's four walls and that we should continue to support other caus8S as the trustees see ftt to positively benefrt our communty. FUTURE: We continue to pursue the desire to own our own church building which could be used for various activities including non-religious activities e.g. after school project, befriending and soup kitchen for the homeless, youth activities to win them off the streets. We plan to acquire and develop this building to a state ofthe art communty centre. APPRECIATION AND COLLABORATIVE EVENTS: The trustees would like to express its sincere appreciation to all donors especially those in kind that have helped us to spend a lot less this year on our artivities which we believe will help towards our savings to acquire our own secured pemanenl place of worship to stabilise the growth of the Church. The Church continues to work bwth other Ministries in joint programmes and services to advan Christian religion. Thanks to the members whose donations in kind helped to fund activities and these organisations who allowed us to use their premises FREE during the year.
CHALLENGES: One of the greatest challenges the Church currenuy faces is that of own premises. The trustees have unanimously agreed that it is better for the Church to be patient and possess its own premises rather than spend a lot of money on rent that tt could not at the end of the day sustain and at the same time we do NOT intend to PLrt financial pressure on any members or polential members only to pay for rent of premises that may at the end of the day be unsuitable lo sejve the organisation's purpose. Due to the general lockdown all our services have been largely conducted on line and by Zoom. RESERVE POLICY The Charity Commission requires chartties to detemine and explain their policy for free reserves. The trustees have reviewed tts free reseeS policy and have tumed its entire unrestricted fund into general reserve. The chanty holds sufficient bank balan to fund current and anticipated expenditures. RISK MANAGEMENT The charity currently owns no property and has no investments other than the bank balances. The Chafity therefore has no major risks. There are no incidents to bring to the attention of the Charity Commission. Signed on beha of the trustees Chairperson ........ ..0. Adebambo. ..2024
HOLY CROSS CHURCH INTERNATIONAL (HCCI) TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2023. STATEMENT OF TRUSTEES, RESPONSIBILITIES The management committee are required to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity at the end of the year and of rts financial activf(ies during the year then ended. In preparing those financial statements, the management committee are required to.. select suitable accounting policies and apply them consistently., make judgements and estimates that are reasonable and prudent" stale whether applicable standards and statement of recommended practice have been followed. subject to any material departures disclosed and expiained in the financial statements., and prepare the financial statements on the going conrn basis unless it is inappropriate to presume that the project will continue in operation. The Management committee are responsible for keeping proper accounting records. which disclose at any time the financial position of the Charity. 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 irregulankn"es.
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF HOLY CROSS CHURCH INTERNATIONAL (HCCI FOR THE YEAR ENDED 31 DECEMBER 2023. I report on the accounts of the Trust for the year ended 31 Dember 2023. which are set out on pages 8-10. 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 audit is not required for this year under *ction 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. 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 independent examinerfs report My examination vrfas carried out in accordan 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 conceming any such matters. The prOdureS 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 statement 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 accounts'ng records in accordan with section 130 of the 2011 Act; and to prepare accounts which accord with the accounting records and 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 understa g of the accounts to be reached. Signature=.......................................... Paul Banda London Accountancy Practice Sojourner Truth Centre 161 Sumner Road London, SE15 6JL
HOLY CROSS CHURCH INTERNA TIONAL IHCCI) STATEMENTOF FINANCIAL ACTrVtTIES FOR THE YEAR ENDED 31 DECEMBER 2023 2023 2023 Unrestricted Restrlctsd Fund Fund 2023 2023 Total Fund 2022 Totsl Fund INCOMING RESOURCES L•gaty Fund Incoming Re8ourcos Voluntary Income TIttEs. Donabons & Offeri HMRC-GiftAd Bank irteiesi 31.498 4.554 31,498 4.554 25.926 2.681 932 Totsl Incomlng Rvdourc•8 42,718 42.718 29.539 RESOURCES EXPENDED Charttsble Acttvibes Goveman¢? Costs Totsl Re$ource8 Expended 643 3,227 3227 NETINCOMING RESOURCE8 41075 42.076 26,312 Fund Balances Brougm Forward at 1st January 2023 Fund Balanc•g Carrigd Forward at 31 DECEMBER 2023 309,671 309.671 283.359 361,746 361,746 309,671
HOLY CROSS CHURCH INTERNA710NAL (HCCIJ BALANCE SHEET AS AT31 DECEMBER 2023 Notes 2023 2022 CURRENT ASSETS Cash at Bank and In HarKI 351_746 351,746 309,671 309,671 CURRENT UABIUTIES Creditors And Accruals Amount falling due wthin one year 351.746 351,746 309.671 309,671 P4et Current Agsets RESERVES Restricted Funds Unrestncted Funds Designated Funds 351.746 309,671 351,746 309,671 Approved by the Board of Directors on.... and signed on their behalf by ST ..2024 .Chairperson O Adebambo Ha ah Adebambo (Mrs)
10 HOLY CROSS CHURCH INTERNATIONAL IHCCI) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 310ECEMBER 2023. 1. ACCOUNTING POLICIES Basls of preparatlon of Financial Statements The financial statements are prepared under the historic cost convention and include the results of the charity's operations which are descnbed in the Trustees, Report and all of which are continuing. The accounts have been prepared in accordance with the Statements of Recommended Practi - Arxounting and Reporting by Charities. The charity has taken advantage of the exemption of Financial Reporting Standard No 1 from the requirements to produce a Cash flow statement on the grounds that it qualrfies as a small charity Incoming Resources 1.2.1 Revenue grants are crediled on the 8arfier date of en they are received or when they are receivable, unless they relate to a specific future period, in which case they are included on the Balan Sheet as deferred income to be recognised in the future accounting period. 1.2.2 Grants reiVed for SC[fIC purposes are accounted for as restricted funds in the Statement of Financial Activities. Restricted Funds Restricted funds are to be used for specrfic purposes as lay down by the donor. Expenditure that meets these criteria is identified to the fund, together with a fair allocation of management and support costs. Unrestricted Funds Unrestricted funds are donations and other incomes reiVed or generated for the objects of the organisation vthoUt further specified purpose and are available for general funds. Designated Funds Designated funds are unrestricted funds eamiarked by the twstees for particular purposes. Tangible fixed assets Depreciation is calculated to write off the cost of fixed assets over their estimated useful lives using the following rates.. offi equipment - Phot¢xopier: 25% on cost Resources Expended All expenditure is accounted for gross and when incurred. Direct charitable expenditure includes the direct costs of the activities and depciation on related assets. Management and administration comprise those costs relating to the Charity's central management and administration as opposed to its charitable activities.
HOLY CROSS CHURCH INTERNATiofiAL IHCCIF DETAILED INCOME & EXPENDITURE FOR THE YEAR ENDED 31 DECEMBER 2023 2023 2023 2023 Unre8trlcted Restrlctsd L•gacy Fund Fund Fund 2023 Total Fund 2022 Totsl Fund INCOMING RESOURCES Voluntary Income Tithe5, Dorob'ons Offenros GiftAd 31,498 31.498 4,554 25,926 2,881 36,052 Actlvlllo8 For Generatlng Fund* 36.062 28,607 Inve51mant Income Deposit Interest (Net} 932 932 6.666 6,666 TOTAL INCOMING RESOURCES 42,718 42.718 29,539 RESOURCES EXPENDED Charltable Aclvl Donatsons & Homrarium conferen5. Everrts Seminats & Gifts Accountsnt (Gift Claim) IAlebsile Sthscriptsor6 575 2,235 308 109 521 122 521 122 Govemanu Costs Accourtanq Fee TOTAL RESOURCES EXPENDED 3.227