ETERNAL LIFE CHRISTIAN CHAPEL
YEAR ENDED: 30 SEPTEMBER 2024
CHARITY NO. 1154623
Contents
| Legal and Adminstrative Information | 1 |
|---|---|
| Report of the Trustees | 2-4 |
| Independent Examiner's Report | 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 |
| Notes forming part of the financial statements | 8-12 |
| The following page does not form part of the Statutory Accounts | |
| Income and Expenditure Account | 13 |
ETERNAL LIFE CHRISTIAN CHAPEL REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2024
Reference and Administrative information
| Charity Name: | Eternal Life Christian Chapel | |
|---|---|---|
| Charity Registered Number: | 1154623 | |
| Principal Address | 98 Mount Pleasant Avenue | |
| St. Helens | ||
| Merseyside | ||
| WA9 2PT | ||
| Trustees | Felicia Oramalu | (Chairman) |
| Pastor Oscar Oscar | ||
| Mr Chukwudi Molokwu | ||
| Bankers | Barclays Bank | |
| Leicester | ||
| LE87 2BB | ||
| Accountants: | PVG Accounting Services & | Consultancy Ltd |
| 344 Moston Lane | ||
| Manchester | ||
| M40 9JS |
Page 1
ETERNAL LIFE CHRISTIAN CHAPEL REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2024
The trustees present their report and the financial statements for the year ended 30 September, 2024. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities' effective 1 January 2015.
Structure, Governance and Management
Governing Document
The organisation is a charitable incorporated organisation and governed by a foundation register dated 18th November It was registered as a charity on 18th November 2013.
Recruitment and appointment of new trustees
Generally trustees are appointed by Board of Trustees. Trustees are appointed by invitation as at when required and depending on their expertise and requirements of the charity. Four new trustees were appointed during the year.
Induction and training of new trustees
The charity arranges appropriate training both internally and through other voluntary training providers. The trustees and all involved in running the charity, including volunteers are always encouraged to acquire the necessary skills required for the achievement of the charity objectives.
Additionally, new trustees are invited and encouraged to attend series of short training sessions to familiarise themselves with the charity and the context within which it operates.
Organisational structure
The trustees who served during the period and up to the date of the report are set out above. The day to day responsibility for the running of the charity lies with the Senior Pastor. The Senior Pastor is accountable to the Board of Trustees who are ultimately responsible for all strategic decisions of the charity.
The trustees meet regularly and are responsible for the strategic direction and policy of the charity. All trustees and the senior pastor give their time voluntarily and receive no benefits from the charity. No full time employee is engaged in the administration of the charity. The charity is assisted by members who render voluntary services to the charity.
Risk Management
The trustees have assessed the major risks to which the charity is exposed, in particular those related to operations and finances of the charity, and are satisfied that the systems are in place to mitigate exposure to the major risks.
Objectives and Principal Activities
The charity's objectives and principal activity is to promote the advancement of the christian faith, the relieving the sick in the society and helping the needy. We promote and fulfil various charitable causes in Lancashire , Liverpool and Manchester Cities.
Page 2
ETERNAL LIFE CHRISTIAN CHAPEL REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2024
Development and Achievements in the Period
The charity's events were properly managed, executed and reviewed for its impact on members. Our charity continues to grow in Sunday morning attendance, youth and children's ministry. We minister to the physical, mental and spiritual needs of our members and new comers in our midst. We have helped relief poverty and hardship amongst both regular and irregular congregants who are suffering from financial hardship due to unemployment and lack of financial resources.
Financial Review
The charity was able to raise a total income of £42240 during the year under review as against £38,970 realised during the previous year.
Principal Funding Sources
The principal funding sources for the charity are currently by way of Donations and Gifts from congregants through and offering basket passed during Church services and through bank standing orders etc.
Investment Policy
The Charity will retain a significant amount in the savings account. The objective of the investment policy is to invest in cash at banks where the capital is protected. The charity currently has a policy of keeping any surplus liquid funds in cash at banks where immediate access and security of funds is guaranteed
Reserves Policy
It is the policy of the charity to maintain unrestricted funds which are the free reserves of the charity at a level which equates to at least 3 months of unrestricted expenditure. This provides sufficient funds to cover management and administration and support costs and to respond to emergencies which may arise from time to time.
The expenditure for 2024 was £20,992 and therefore the targeted reserves should be between £5248 and £10,496 in general funds. The reserves are needed to meet the working capital requirements of the charity and the trustees are confident that at this level they would be able to continue the current activities of the Charity in the event of a significant drop in funding. The targeted reserve was achieved during the year under review.
Plans for Future Periods
In the near future, the charity plans to expand its operations and we will continue our drive towards providing more benefits to our community. The Charity plans continuing the activities outlined above in forthcoming year subject to satisfactory funding arrangements.
Page 3
ETERNAL LIFE CHRISTIAN CHAPEL REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2024
Trustees ' Responsibilities
Charity Law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable trust as at the balance sheet date and of its incoming resources and applications of resources, including income and expenditure, for the financial year. In preparing those financial statements the Trustees should follow best practice and
continue in operation
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the financial statement comply with the Charities Act 2011. They are also responsible for the safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Statement of Disclosure of Information to the Accountants
In accordance with charity law, as trustees, we certify that:
So far as we are aware, there is no relevant information of which the company's accountants are unaware; and as the trustees of the charity we have taken all steps that we ought to have taken in order to make ourselves aware of any relevant information and to establish that the Charity's accountants are aware of that information'.
This report has been prepared
By order of trustees:
Felicia Oramalu Chairman Board of Trustees
30th July, 2025
Page 4
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE ETERNAL LIFE CHRISTIAN CHAPEL FOR THE YEAR ENDED 30 SEPTEMBER 2024
As described on pages 2 to 5, the Trustees are responsible for the preparation of the accounts, and they consider that an audit is not required for this year (under section 144(1) of the Charities Act 2011 (The 2011 Act) and that an independent examination is needed. It is my responsibilty to:
examine the accounts (under section 145(1) of the Charity Act 2011;
follow the procedures laid down in the general Directions given by the Charity Commissioners under section 132 of the Charity Act 2011; and
state whether particular matters have come to my attention
Basis of Independent examiners statement
Our examination was carried out in accordance with general Directions given by the Charity Commissioners. 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 the trustees concerning 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 statement below:
Independent examiners statement
In connection with my examination, no matter has come to my attention:
- (1) which gives us reasonable cause to believe that in any material respect the requirements:
to keep accounting records in accordance with section 130 of the Charities Act 2011; and
to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act and with the methods and principles of the Statement of Recoommended Practice: Accounting and Reporting by Charities, 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.
Mrs Dorcas Olowoyo FCA, FFA/FIPA
PVG Accounting Services & Consultancy Ltd 344 Moston Lane Manchester M40 9JS
Page 5
ETERNAL LIFE CHRISTIAN CHAPEL STATEMENT OFFINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 SEPTEMBER 2024
| Notes Incoming resources Incoming resources from generated funds: Voluntary Income: Donations and Offerings 1 Building Fund Gift Aid Tax Reclaim Activities for generating funds: Investment Income Incoming resources from charitable activities: Grants & Contracts Total incoming resources Resources expended Cost of generating funds Costs of generating voluntary income 2 Fundraising trading: cost of goods sold Charity activities 3 Governance Costs 4 Total resources expended Net Incoming resources before other recognised gains Net movement in funds Reconciliation of Funds Total funds brought forward Total funds carried forward |
2024 2024 2024 2023 Unrestricted Restricted Total Total Funds Funds Funds Funds £ £ £ 42,240 - 42,240 38,970 - - - - - - - - - - - - - - - - |
|---|---|
| 42,240 - 42,240 38,970 |
|
| 17,130 - 17,130 21,222 - - 3,562 - 3,562 1,413 300 - 300 300 |
|
| 20,992 - 20,992 22,935 |
|
| 21248 - 21248 16035 |
|
| 21,248 - 21,248 16035 |
|
| 23,673 23,673 7,638 |
|
| 44,921 - 44,921 23,673 |
The statement of financial activities includes all gains and losses in the year. All incoming resourcesand resources expended derive from continuing activities.
The notes on Pages 8 to 12 form part of these Accounts.
Page 6
ETERNAL LIFE CHRISTIAN CHAPEL BALANCE SHEET AS AT 30 SEPTEMBER 2024
| Notes Fixed assets Tangible assets 8 Currents assets Cash at bank and in hand Creditors: amounts falling due 10 within one year Net Current Assets Net Assets Unrestricted funds General funds 12 Total funds |
2024 £ - 45,221 (300) 44921 44,921 44,921 44,921 |
2023 £ - 23,973 (300) |
|---|---|---|
| 23673 | ||
| 23,673 | ||
| 23,673 | ||
| 23,673 |
Approved by the Board of Trustees on the 30th, July 2025 and signed on its behalf by:
Pastor Oscar Oscar
Trustee
The notes on pages 8 to 12 form part of these financial statements.
Page 7
ETERNAL LIFE CHRISTIAN CHAPEL NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024
1. Accounting Policies
The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and in the preceding year.
(a) Basis of Accounting
The financial statements have been prepared under the historical cost convention, as modified by the inclusion of fixed assets investments at market value, and in accordance with the Companies Act 2006 and the Statement of recommended Practice: Accounting and Reporting by Charities issued in March 2005.
(b) Fund Accounting
Unrestricted funds are available for use at the discretion of the trustees in furthermore of the general objectives of the charity. Unrestricted funds include a revaluation reserve representing the restatement of investment assets at market values.
Designated funds are unrestricted funds earmarked by the Trustees for particular purposes.
Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of an appeal.
(c ) Incoming Resources
All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular cateries of income:
Voluntary income is received by way of grants, donations and gifts and is included in full in the Statement of Financial Activities when receiveable. Grants, where entitlement is not conditional on the delivery of a specific performance by the charity , are recognised when the charity becomes unconditionally entitled to the grant.
Donated services and facilities are included at the value to the charity where this can be quantified. The value of services provided by volunteers has not been included in these accounts.
Invested income is included when receivable.
Incoming resources from charitable trading activity are accounted for when earned.
Incoming resources from grants, where related to performance and specific deliverables, are accounted for as the charity earns the right to consideration by its performance.
Page 8
ETERNAL LIFE CHRISTIAN CHAPEL NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024
(d) Resources expended
Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates:
Costs of generating funds comprise the costs associated with attracting voluntary income and the costs of trading for fundraising purposes.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the accountancy fees and costs linked to the strategic management of the charity.
All costs are allocated between the expenditure categories of the SoFA on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, others are apportioned on an appropriate basis e.g. floor areas, per capita or estmated usage as set out in Note 4.
Page 9
ETERNAL LIFE CHRISTIAN CHAPEL
NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024
1. Donations
| Donations -Tithes and Offering Gift Aid Tax Reclaim Building Fund |
Unrestricted Restricted 2024 2023 Total Total £ £ £ £ 42,240 - 42,240 38,970 - - - - - - - - |
|---|---|
| 42,240 - 42,240 38,970 |
Total Resources Expended
2. Costs of Generating Voluntary Income
| Basis of Allocation Staff Costs Direct Bank Charges Direct Administration Direct Professional Fees Direct Support Costs Direct Premises Direct 3. Charitable Activities Ministry Direct 4. Governance Cost Professional Fees Direct Total Resources Expended 5. Net Incoming Resources for the Year This is stated after charging: Accountant's Remuneration |
Church Work Support Cost Governance 2024 2023 £ £ £ £ £ - - - - - - - - - - - 960 - 960 1,634 - - - - - - 2,930 - 2,930 7,886 - 13,240 - 13,240 11,702 |
Church Work Support Cost Governance 2024 2023 £ £ £ £ £ - - - - - - - - - - - 960 - 960 1,634 - - - - - - 2,930 - 2,930 7,886 - 13,240 - 13,240 11,702 |
Church Work Support Cost Governance 2024 2023 £ £ £ £ £ - - - - - - - - - - - 960 - 960 1,634 - - - - - - 2,930 - 2,930 7,886 - 13,240 - 13,240 11,702 |
|---|---|---|---|
| - 17,130 |
- 17,130 |
21,222 | |
| 3,562 - |
- 3,562 |
1,413 | |
| 3,562 - |
- 3,562 |
1,413 | |
| - - |
300 300 |
300 | |
| - - |
300 300 |
300 | |
| 3,562 17,130 |
300 20,992 |
22,935 | |
| 2024 £ 300 300 |
2023 £ 300 |
||
| 300 |
Page 10
ETERNAL LIFE CHRISTIAN CHAPEL
NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024
6. Trustee Remuneration & Related Pay Transactions
No member of the Board of Trustee member including the Chief Executive/Senior Pastor received any remuneration during the period.
7. Taxation
As a charity, Eternal Life Christian Chapel is exempt from tax on income and gains falling within section 505 of the Taxes Act1988 or s256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have risen in the Charity.
Page 11
ETERNAL LIFE CHRISTIAN CHAPEL
NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024
10. Creditors: Amounts falling due within one year
| Accruals | 2024 £ 300 300 |
2023 £ 300 |
|---|---|---|
| 300 |
11. Analysis of Net Assets Between Funds
| General Designated Restricted Total Funds Funds Funds Funds £ £ £ £ |
|
|---|---|
| Tangible Fixed Assets Investments Current Assets Current Liabilities |
- - - - - - - 45,221 - - 45,221 (300) - - (300) |
| Net Assets at 30 September 2024 | |
| 44,921 - - 44,921 |
12. Movements in Funds
| Restricted Funds: Total Restricted Funds Unrestricted Funds: General Funds Total Unrestricted Funds Total Funds |
At 1 Oct Incoming Outgoing Transfers At 30 Sept 2023 Resources Resources 2024 [Inc Gains] £ £ £ £ £ - - - - - |
|---|---|
| - - - - - |
|
| 23,673 42,240 20,992 - 44,921 |
|
| 23,673 42,240 20,992 - 44,921 |
|
| 23,673 42,240 20,992 - 44,921 |
Page 12
ETERNAL LIFE CHRISTIAN CHAPEL INCOME AND EXPENDITUE ACCOUNT FOR THE YEAR ENDED 30 SEPTEMBER 2024
| INCOME LESS OVERHEADS Premises Costs Rent & Rates Premises Repair & Maintenance Bank Charges Administration Printing, Postage and Stationery Subsription Telephone Media Expenses Ministry Publicity Events, Retreats & Conferences Hospitality & Refreshment Welfare Professional Fees Audit & Accountancy Fees Support Costs Hotel, Travel & Motor Expenses Insurance Surplus/(Deficit for the year) Surplus brought forward Surplus carried forward |
2024 2023 £ £ £ £ £ £ 42,240 38,970 12,137 11,422 1,103 280 13,240 11,702 - - 382 314 80 792 21 - 477 528 960 1,634 182 94 1,467 324 1,000 650 913 345 3,562 1,413 300 300 300 300 1,763 6,957 1,167 929 2,930 7,886 (20,992) (22,935) 21,248 16,035 23,673 7,638 44,921 23,673 |
2024 2023 £ £ £ £ £ £ 42,240 38,970 12,137 11,422 1,103 280 13,240 11,702 - - 382 314 80 792 21 - 477 528 960 1,634 182 94 1,467 324 1,000 650 913 345 3,562 1,413 300 300 300 300 1,763 6,957 1,167 929 2,930 7,886 (20,992) (22,935) 21,248 16,035 23,673 7,638 44,921 23,673 |
2024 2023 £ £ £ £ £ £ 42,240 38,970 12,137 11,422 1,103 280 13,240 11,702 - - 382 314 80 792 21 - 477 528 960 1,634 182 94 1,467 324 1,000 650 913 345 3,562 1,413 300 300 300 300 1,763 6,957 1,167 929 2,930 7,886 (20,992) (22,935) 21,248 16,035 23,673 7,638 44,921 23,673 |
2024 2023 £ £ £ £ £ £ 42,240 38,970 12,137 11,422 1,103 280 13,240 11,702 - - 382 314 80 792 21 - 477 528 960 1,634 182 94 1,467 324 1,000 650 913 345 3,562 1,413 300 300 300 300 1,763 6,957 1,167 929 2,930 7,886 (20,992) (22,935) 21,248 16,035 23,673 7,638 44,921 23,673 |
|---|---|---|---|---|
| 16,035 7,638 |
||||
| 23,673 |
This page does not form part of the statutory accounts.
Page 13
Page 13