CHRIST MIRACLE CHURCH MISSION
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31[ST] MARCH 2024
CHARITY NUMBER: 1156097
CHRIST MIRACLE CHURCH MISSION REGENT 88 210 CHURCH ROAD LONDON E10 7JQ INDEX Page Index 1 Trustee’s Report 2-3 Independent Examiner’s Report 4 Receipts and Payments Account 5 Statement of Assets and Liabilities 6 Notes on the financial Statements 7
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CHRIST MIRACLE CHURCH MISSION
TRUSTEES’ REPORT YEAR ENDED 31[ST] MARCH 2024
The trustees are pleased to present their report for the year ended 31[st] March 2024 for the charity, Christ Miracle Church Mission with charity number 1156097.
The Trustees of the charity are: Mr Adebajo Kolawole Mr Olumuyiwa Alabi Mr Oladapo Ogundare Mr Sunday Olasehinde Mr Ebenezer Olasode Mr Akeeb Akinola
The principal address of the charity is : Regent 88 210 Church road, London E10 7jq
STRUCTURE, GOVERNANCE AND MANAGEMENT
The Charity governing document is a Constitution that was adopted 26[th] October 2012 as amended on 2[nd] March 2014.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 and also to advance education . 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 continued to hold successful worship services through the year in which individuals were equipped and educated on the principles and doctrines of the Christian faith. The church is now back to in person services in its hired halls. The meetings were still well attended by members of the community. The organisation continues to expand its outreach in the community by hiring 2 more Ministers of Religion to support its outreach. The organisation also planted 2 different branches in the financial year in various areas of the United kingdom
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FINANCIAL REVIEW
The income of the charity is above £85,000. The organisation is still in a good position to manage its costs. The main cost of the organisation was paying for the rent of its building that it uses for worship services and maintaining the wages for the church staff.
FUTURE PLANS
The organisation is building up its reserves as it plans to acquire a premises for its worship services in the coming months. The charity is a going concern.
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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 2011,the 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 1993.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 9[th] January 2024 and signed on their behalf by:
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Independent Examiner’s Report To the Trustees
CHRIST MIRACLE CHURCH MISSION
I report on the accounts of the church for the year ended 31[st] March 2024 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 43(2) of the Charities Act 1993 (the 1993 Act),does not apply. It is my responsibility to :
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Examine the accounts under section 43(3) of the 1993 Act.
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Follow the procedures laid down in the General Directions given by the Charity Commissioners made under section 43(7)(b) of the 1993 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 41 of the Act)
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accounts are prepared which agree with the accounting records and comply with the accounting requirements of the 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 BSc(Man), FICB PMDip FRESH FIRE ORGANISATION 95 Miles Road Mitcham Surrey CR4 3FH
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CHRIST MIRACLE CHURCH MISSION
ACCOUNTS FOR THE YEAR ENDED 31st March 2024
| **1 ** | Receipts & Payments Account (General Purpose Fund) | Receipts & Payments Account (General Purpose Fund) | |
|---|---|---|---|
| Income Receipts | |||
| £ | £ | ||
| 2024 | 2023 | ||
| Tithes and Offerings | 85925 | 50682 | |
| Other Income | 0 | 0 | |
| Total Receipts | 85925 | 50682 | |
| Direct Chaitable Expenditure | |||
| Office expenses | 0 | 0 | |
| Church Rent | 15879 | 12421 | |
| Office rent | 620 | 350 | |
| Professional fees | 690 | 1210 | |
| Vehicle expenses | 289 | 297 | |
| Insurance | 1247 | 1309 | |
| Music Services | 4880 | 640 | |
| Wages | 48142 | 13291 | |
| Tax/Ni | 6024 | 709 | |
| Transport | 793 | 841 | |
| Admin | 301 | 1859 | |
| Welfare | 259 | 440 | |
| Media Services | 805 | 581 | |
| Charity | 0 | 1300 | |
| TV Program | 6380 | 3562 | |
| Subscriptions | 212 | 99 | |
| Stationery & Printing | 737 | 91 | |
| Total | 87258 | 39000 | |
| Other Expenditure | |||
| Equipment | 0 | 0 | |
| Repairs | 421 | 0 | |
| Pension | 1348 | 0 | |
| Refreshments | 460 | 1305 | |
| 2229 | 1305 | ||
| Total Payments | 89487 | 40305 | |
| Net Receipts/(Payments) for the year | -3562 | 10377 | |
| Cash Funds at start of year | 66534 | 71957 | |
| Loan out | 0 | -15800 | |
| Cash Funds at the end of the year | 62972 | 66534 |
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CHRIST MIRACLE CHURCH MISSION
2 Statements of Assets and Liabilities at 31st March 2024
| Cash Funds Bank Total Cash Funds Other Monetary Assets Loan Assets Retained for the Charity's Own use Instruments Equipment Van Fixtures & Fittings Liabilities Accounting fee NET ASSETS |
Unrestricted Funds 2024 2023 £ £ 62972 66534 |
|---|---|
| 62972 66534 |
|
| £/2024 £/2023 15800 15800 220 275 133 166 754 943 390 488 |
|
| 1497 1872 392 390 |
|
| 79877 83816 |
Approved by the Trustees and signed on their behalf:
________ Signature On _ date
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CHRIST MIRACLE CHURCH MISSION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31st March 2024
ACCOUNTING POLICIES
Basis of Accounting
These accounts have been prepared on the receipts and payments basis under section Charities Act 2011.
Funds
Unrestricted funds are those which can be used at the Trustees' discretion. Restricted Funds are those whose purposes have been restricted by the donor.
Staff
The organisation had 2 employees during the accounting year under the PAYE scheme. All the other work of the organisation was carried out by volunteers.
Trustees' Benefits
None of the trustees received any benefits or payments during the financial year from the charity.
Depreciation
Depreciation is calculated at 20% using the reducing balance method.
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