DOMINION CITY CHURCH
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31[ST] OCTOBER 2022
CHARITY NUMBER: 1154473
DOMINION CITY CHURCH 13 – 17 HARTLEY AVENUE LUTON LU2 0HX
INDEX Page Legal & Administrative Details 1 Trustee’s Report 2-3 Independent Examiner’s Report 4 Statement of Financial Activities 5 Balance Sheet 6 Notes on the financial Statements 7 - 9
DOMINION CITY CHURCH
LEGAL & ADMINISTRATIVE DETAILS YEAR ENDED 31[ST] OCTOBER 2022
ADDRESS FOR CORRESPONDENCE
13 – 17 HARTLEY AVENUE LUTON LU2 0HX
REGISTERED CHARITY NUMBER
1154473
GOVERNING DOCUMENT
DECLARATION OF TRUST 5[TH] NOVEMBER 2013.
TRUSTEES/ DIRECTORS
Michael Ochei Ikenna Duru Onyinye Nneka Prince - Mgemena
PRINCIPAL BANKERS
BARCLAYS BANK UK PLC 1 CHURCHILL PLACE LONDON EH14 5HP
INDEPENDENT EXAMINER
FRESH FIRE ORGANISATION GENERATOR BUSINESS CENTRE 95 MILES ROAD MITCHAM CR4 3FH
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DOMINION CITY CHURCH
TRUSTEES’ REPORT YEAR ENDED 31[ST] OCTOBER 2022
The trustees are pleased to present their report for the year ended 31[st] October 2022 for the charity, Dominion City Church with charity number 1154473.
The Trustees of the charity are: Michael Ochei
Ikenna Duru
Onyinye Nneka Prince - Mgemena
The principal address of the charity is: 13 – 17 Hartley Avenue Luton
LU2 0HX
STRUCTURE, GOVERNANCE AND MANAGEMENT
The Charity governing document is a declaration of trust that was executed 5[TH] November 2013.The Charity is governed by a board on which the trustees are represented. It meets regularly to review, plan activities and monitor the financial position.
OBJECTIVES AND ACTIVITIES
The Objects of the organisation are first to advance the Christian faith in accordance with the statement of beliefs for the benefit in the United Kingdom and in such other parts of the world as the trustees may think fit from time to time. The trustees confirm that they have had due regard to the guidance issued by the Charity Commission on public benefit before deciding what activities the charity should undertake.
ACHIEVMENTS AND PERFORMANCE
The Organisation continues to successful meetings through the year in which individuals were equipped and educated on the principles and doctrines of the Christian faith. The church held several conferences during the year that assisted to equip and encourage the members of the community regarding their personal and spiritual development.
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FINANCIAL REVIEW
The income of the charity is above £32,000. This is a low amount for this year of the charity the costs have been well managed over this period. The organisation is still in a good position to manage its costs.
FUTURE DEVELOPMENTS
The church intends to continue to host its regular worship services in the city. The intended re-appointment of our present independent examiner at the upcoming trustee meeting is expected to support the financial operations by making it more effective.
RESERVE POLICY
It is the policy of the Charity to maintain unrestricted funds, which are the reserves of the charity at about 3 months of unrestricted expenditure. This provides sufficient funds to cover any emergency expenditures that may arise from time to time. The charity will seek to maintain this level throughout the year.
RISK MANAGEMENT
The charity have assessed all the major risks to which the charity is exposed to, in particular those related to operations and finances of the charity, and are satisfied that systems are in place to mitigate exposure to major risks.
TRUSTEE RESPONSIBILITIES
Under the Charities Act 2011the trustees are required to prepare a statement of accounts for each accounting year which gives a true and fair view of the state of the church. They are required to:
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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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State whether the applicable accounting standards have been followed.
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Prepare financial statements on an ongoing basis.
They are responsible for keeping proper records which disclose with reasonable accuracy the finances of the church at any time and to ensure that such accounts comply with the Charities Act 2011.They also have a responsibility to safeguard the assets of the church and to take reasonable steps to detect fraud or other irregularities.
Approved by the Trustees on 20[th] June 2022 and signed on their behalf by:
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Independent Examiner’s Report To the Trustees DOMINION CITY CHURCH
I report on the accounts of the church for the year ended 31[st ] October 2022 set out on the following pages which have been prepared on the basis of the accounting policies shown in the corresponding pages.
Respective responsibilities of trustees and examiner
The trustees of the church are responsible for the preparation of accounts: they consider that the audit requirement under section 144(2) of the Charities Act 2011 (the 2011 Act),does not apply. It is my responsibility to :
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Examine the accounts under section 145 of the 2011 Act.
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Follow the procedures laid down in the General Directions given by the Charity Commissioners made under section 145(5)(b) of the 2011 Act.
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State whether particular matters have come to my attention.
Basis of Independent examiner’s report
My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the church 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 I do not express an audit opinion on the view given by the accounts.
Independent examiner’s statement
In the course of my examination, no matter has come to my attention;
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(1) which gives me reasonable cause to believe that, in any material aspect, the trustees have not met the requirements to ensure that:
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proper accounting records are kept( in accordance with section 130 of the 2011 Act
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accounts are prepared which agree with the accounting records and comply with the accounting requirements of the 2011 Act: or
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(2) to which , in my opinion , attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Chuks Ajuka FICB PMDip Unit 5, Generator business centre 95 Miles road Mitcham Surrey CR4 3FH
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DOMINION CITY CHURCH
Statement of Financial Activities for the year ended 31st October 2022
| Unrestricted | Unrestricted | Total Funds | ||
|---|---|---|---|---|
| Funds | 2022 | 2021 | ||
| Incoming ResourcesNote | £ | £ | ||
| from generated funds | ||||
| Donations and Legacies | 2 | 32014 | 32014 | 245486 |
| Investment income | 3 | 0 | 0 | 0 |
| ______ | ______ | |||
| 32014 | 32014 | 245486 | ||
| Other Income | ||||
| Gift Aid | 0 | 0 | 0 | |
| ______ | ______ | |||
| Total Incoming | 32014 | 32014 | 245486 | |
| Resources | ||||
| ______ | ______ | |||
| Resources Expended | ||||
| Charitable activities in furtherance of objectives | ||||
| Charitable activities | 6 | 66,543 | 66,543 | 70951 |
| Other | 4 | 558 | 558 | |
| ______ | ||||
| Total Resources | 67,101 | 67,101 | 70951 | |
| Expended | ______ | |||
| Net movement in funds | -35,087 | -35,087 | 174535 | |
| Reconciliation of Funds | ||||
| Total Funds brought forward | 377634 | 377634 | 203099 | |
| Total Funds carried forward | 342,547 | 342,547 | 377634 |
The above funds are all classed as to purpose All movements of funds and all recognised gains and losses are included above.
The notes on the accounts form part of these accounts.
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DOMINION CITY CHURCH Balance Sheet as at 31st October 2022
| Note 2022 Fixed Assets £ Tangible fixed assets 5 326789 _ 326789 _ Current Assets Cash at bank and 16004 in hand Debtors & prepayments 0 16004 Creditors:amounts falling due after one year Creditors & accruals 8 246 _ Net Current Assets 15758 _ Net Assets 342547 Unrestricted Funds 342547 _ TOTAL FUNDS 342547 _ |
2021 326789 |
|---|---|
| 326789 | |
| 75845 0 |
|
| 75845 25000 |
|
| 50845 | |
| 377634 377634 _ 377634 _ |
Approved by the trustees on 20th June 2023 and signed on their behalf by :
The notes on these accounts form part of these accounts
DOMINION CITY CHURCH
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31[ST] OCTOBER 2022
1.1 Basis of Accounting
These accounts have been prepared under the historic cost convention with items Recognised at cost or transaction values otherwise stated in the relevant note(s) to These accounts. The accounts have been prepared in accordance with: The Statement of Recommended Practice: Accounting and Reporting by Charities Preparing their accounts in accordance with the Financial Reporting Standard Applicable in the UK and Republic of Ireland (FRS102) issued on 16 July 2014.
- 1.2 Going Concern: The accounts are prepared on a going concern basis.
1.3 The accounts present a true and fair view and no change have been made to the accounting policies adopted.
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1.4 No changes to the accounting estimates have occurred in the reporting period
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1.5 No material prior year error have been identified in the reporting period.
Recognition of Income
These are included in the Statement of Financial Activities (SOFA) when:
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The charity becomes entitled to resources;
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It is more likely than not that the trustees will receive the resources;
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The monetary value can be measured with sufficient reliability.
Grants and Donations
Grants and Donations are only included in the SOFA when the general income recognition criteria are met (5.10 to 512 FRS102 SORP)
.
Tax reclaim on donations and gifts
Gift Aid receivable is included in the income when there is a valid declaration from the donor. Any gift aid amount recovered on a donation is considered to be part of that gift and is treated in addition to the same fund as the initial donation unless the donor or the terms of the appeal have specified otherwise.
EXPENDITURE AND LIABILITIES
Liability Recognition
Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty.
Grants and Support Costs
Support costs have been allocated between the governance costs and other support. Governance costs comprise all costs involving public accountability of the charity and its compliance with regulation and good practice.
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DOMINION CITY CHURCH NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31[ST] OCTOBER 2022
Creditors
The charity has creditors which are measured at settlement amounts less any trade discounts.
ASSETS
Tangible Fixed Assets for use by the charity
They are capitalised if they can be used for more than one year. They are valued at cost. The depreciation is calculated at 20% reducing balance method.
Debtors
Debtors are measured on initial recognition at settlement amount. Subsequently they are measured at cash.
.
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DOMINION CITY CHURCH Notes to the accounts for year ended 31st October 2022
2 Donations and Legacies
| Church collections Tithes & Offerings Total |
Unrestricted Total funds Funds 2022 2021 £ £ 32014 32014 245486 |
|---|---|
| _____ 32014 32014 245486 _____ |
3 Investment income
| Unrestricted Total funds Funds £ 2022/£ 2021/£ Bank Interest 0 0 0 4 Other amount £/2022 2021/ £ Bank charges 8 0 Missions 150 0 Charity donation 400 0 _ __ Total 558 0 _ ___ 5 Tangible Fixed Assets Building Equipment Total 2022 Cost £ £ £ £ At 01/11/2021 325000 2236 327236 Additions 0 598 598 _____ At 31/10/2022 325000 2834 327834 Depreciation At 01/11/2021 0 447 447 charge for the year 0 477 477 ______ At 31/10/2022 0 924 924 Net Book Value at 31/10/2022 325000 1910 326910 Net Book Value at 01/11/2021 325000 1789 326789 |
Unrestricted Total funds Funds £ 2022/£ 2021/£ Bank Interest 0 0 0 4 Other amount £/2022 2021/ £ Bank charges 8 0 Missions 150 0 Charity donation 400 0 _ __ Total 558 0 _ ___ 5 Tangible Fixed Assets Building Equipment Total 2022 Cost £ £ £ £ At 01/11/2021 325000 2236 327236 Additions 0 598 598 _____ At 31/10/2022 325000 2834 327834 Depreciation At 01/11/2021 0 447 447 charge for the year 0 477 477 ______ At 31/10/2022 0 924 924 Net Book Value at 31/10/2022 325000 1910 326910 Net Book Value at 01/11/2021 325000 1789 326789 |
Unrestricted Total funds Funds £ 2022/£ 2021/£ Bank Interest 0 0 0 4 Other amount £/2022 2021/ £ Bank charges 8 0 Missions 150 0 Charity donation 400 0 _ __ Total 558 0 _ ___ 5 Tangible Fixed Assets Building Equipment Total 2022 Cost £ £ £ £ At 01/11/2021 325000 2236 327236 Additions 0 598 598 _____ At 31/10/2022 325000 2834 327834 Depreciation At 01/11/2021 0 447 447 charge for the year 0 477 477 ______ At 31/10/2022 0 924 924 Net Book Value at 31/10/2022 325000 1910 326910 Net Book Value at 01/11/2021 325000 1789 326789 |
|---|---|---|
| ______ 325000 0 0 |
______ 2834 327834 447 447 477 477 |
|
| ______ 0 325000 325000 |
______ 924 924 1910 326910 1789 326789 |
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DOMINION CITY CHURCH Notes to the accounts for year ended 31st October 2022
| **6 ** | Cost of Activities in furtherance of Charity's Objectives | Cost of Activities in furtherance of Charity's Objectives | Cost of Activities in furtherance of Charity's Objectives |
|---|---|---|---|
| 2022/£ | 2021/£ | ||
| Building & Hall hire | 3703 | 3882 | |
| Travel cost | 636 | 2826 | |
| Repairs & Renewals | 1810 | 2322 | |
| Welfare | 1351 | 5228 | |
| Light & Heat | 823 | 2438 | |
| Telephone & Internet | 233 | 2403 | |
| Vehicle expenses | 1002 | 4362 | |
| Depreciation | 477 | 447 | |
| Church supplies | 1032 | 0 | |
| Admin & Support costs | 1094 | 8248 | |
| Hmrc | 0 | 6714 | |
| Salary | 25000 | 22708 | |
| Rates | 780 | 3649 | |
| Equipment expensed | 26138 | 100 | |
| Card services | 0 | 1536 | |
| Professional fees | 0 | 1588 | |
| Subscriptions | 0 | 320 | |
| Security | 0 | 936 | |
| Advertising | 0 | 98 | |
| Insurance | 499 | 1146 | |
| Refreshments | 465 | ||
| Church event costs | 1500 | ||
| Total | 66543 | 70951 |
There was 1 employee of the charity during the financial year. All other work was carried out by volunteers during the year.
Trustee Remuneration
No trustee received any remuneration during the financial year
8 Creditors: amounts falling due after one year 2022/£ 2021/£ Credtiors 246 25000 9 Debtors and Prepayments 2022/£ 2021/£ Debtors 0 0
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