Registered Charity Number 1160977
Report of the Trustees and Unaudited Financial Statements For The Year Ended 31st March, 2024
CHRIST LOVE MINISTRIES
CHRIST LOVE MINISTRIES
Contents of The Financial Statements
For The Year Ended 31st March, 2024
| Page | |
|---|---|
| Report of The Trustees | 1 - 2 |
| Independent Examiner's Report | 3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 |
| Notes to the Financial Statements | 6 |
| Detailed Statement of Financial Activities | 7 |
CHRIST LOVE MINISTRIES Report Of The Trustees
For The Year Ended 31st March, 2024
Registered Charity Number 1160977
Chairman:
Rev GORDON GYASI
Principal Address.
37 TOWER SQUARE NORTHAMPTON NN5 5FH
Trustees
Rev GORDON GYASI VIDA GYASI MIZIMO SINKAMBE SITUTU
Independent Examiner
Paperchase Taxation Accountants 22b Sydenham Road
London SE26 5QW
1
CHRIST LOVE MINISTRIES Report of the Trustees
For The Year Ended 31st March, 2024
The trustees present their report with the financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) ‘Accounting and Reporting by Charities' issued in July 2014.
STRUCTURE, GOVERNANCE AND ANAGEMENT
Description of the charity’s trusts
Governing document: Trust deed The charity is a trust Trustee selection is by appointment
The main activity of the charity is the establishment and maintenance of worship centres to enable the members of the public to participate in Christian worship. Making grants and donations to the needy.
We are slowly building a children ministry to enhance their knowledge about the christian faith
RISK MANAGEMENT
The Trustees have conducted a review of the major risks which the Charity is exposed. A risk register has been established which identifies the major risks by area of activity, the nature of those risks, the likelihood of the risks happening and the measure taken to manage them. The Trustees review the risk register regularly at their meetings and are satisfied that systems are in place to manage the risks that have been identified. In particular, insurance cover is in place and the finances of the Charity are kept under review. Appropriate Disclosure & Barring Service check (DBS) training undertaken and, supported by regularly reviewed policies are done for all those who work with children or other vulnerable groups with the Charity.
FINANCIAL REVIEW
We plan on having financial reviews with the church and leaders every 6 months to review our financial achievements and contributions towards various events and ministries.
PLANS FOR FUTURE PERIODS
In future, we plan to expand our ministries in Universities and register as a society in different Universities.
Approved by order of the board of trustees on …………………………………………..and signed on its behalf by:
.......................................................
Rev GORDON GYASI
2
CHRIST LOVE MINISTRIES
For The Year Ended 31st March, 2024
Independent Examiner's Report
To the Trustees of
CHRIST LOVE MINISTRIES
I report on the accounts for the year ended 31st March, 2024 set out on pages four to Seven.
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 Section 144(2) of the Charities Act 2011 (the 2011 Act)) and that an independent examination is required. The charity's gross income does not exceed £250,000 and I am qualified to undertake the examination by being a qualified member of ACCA.
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 l45(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.
Abiodun A Adeboyejo (FCCA,AFA, ACA, FAIA)
PaperChase Taxation
22b Sydenham Road
London. SE26 5QW
Date................................................
3
CHRIST LOVE MINISTRIES
Statement of Financial Activities
For The Year Ended 31st March, 2024
| Unrestricted Notes £ Income Resources Incoming Resources From Generated Funds Voluntary Income 1 72,256 Total Income Resources 72,256 Resources Expended Charitable Activities Physical & Spiritual Need 72,368 Governance Costs 2 1,695 Total Resources Expended 74,063 NET INCOMING RESOURCES (1,807) RECONCILATION OF FUNDS Total Funds Balances b/fwd 11,318 Total Funds Balances c/fwd 9,511 |
Restricted £ - - - - - - - |
2024 2023 Total Total Fund Fund £ £ 72,256 57,061 72,256 57,061 72,368 60,374 1,695 1,136 74,063 61,510 (1,807) (4,449) 11,318 15,767 9,511 11,318 |
|---|---|---|
| - |
The Notes Form Part of These Financial Statements
4
CHRIST LOVE MINISTRIES
Balance Sheet
as at 31 March 2024
| 2024 | 2023 | |||
|---|---|---|---|---|
| Notes | Total | Total | ||
| £ | £ | |||
| CURRENT ASSETS | ||||
| Debtors | 3 | 8,505 | 8,505 | - |
| Cash at bank and in hand | 1,656 | 1,656 | 3,402 | |
| CREDITORS | ||||
| Amounts Falling Due within one Year | 4 | 650 | 650 | 650 |
| NET CURRENT ASSETS | 9,511 | 9,511 | 11,318 | |
| TOTAL ASSETS LESS CURRENT | ||||
| LIABILITIES | 9,511 | 9,511 | 11,318 | |
| NET ASSETS | 9,511 | 9,511 | 11,318 | |
| Unrestricted Funds | 5 | |||
| Unrestricted Funds | 9,511 | 11,318 | ||
| TOTAL FUNDS | 9,511 | 11,318 | ||
| The financial statements were approved by the Board of Trustees | on.................................... and | |||
| were signed on its behalf by: |
Approved by Board of Trustees Rev GORDON GYASI
The Notes Form Part of These Financial Statements
5
CHRIST LOVE MINISTRIES
Notes to the Financial Statementss
for the year ended 31 March 2024
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 January 2015), the Charities Act 2011 and the requirements of the Statement of Recommended Practice (SORP 2015), Accounting and Reporting by Charities (issued July 2014)
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 headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Tangible fixed assets 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.
1 Voluntary Income
| Tithes & Offering 2 Governance Costs Accountancy |
2024 2023 £ £ 72,256 57,061 72,256 57,061 2024 2023 1,695 1,136 1,695 1,136 |
|---|---|
6
CHRIST LOVE MINISTRIES
Notes to the Financial Statementss
for the year ended 31 March 2024
| 3 Debtors : Amounts Falling Due within one year Other debtors 5 Movement in Funds At 01 04 23 £ Unrestrictedfunds General fund 11,318 TOTAL FUNDS 11,318 Net movement in funds, included in the above are as follows: Incoming Resources £ Unrestricted funds General fund 72,256 Total Fund 72,256 |
2024 2023 2024 2023 £ £ 8,505 8,566 8,505 8,566 Net Movement In Funds At 31 03 24 £ £ (1,807) 9,511 (1,807) 9,511 Resources Expended Movement in Funds £ £ 74,063 (1,807) 74,063 (1,807) |
|---|---|
7
CHRIST LOVE MINISTRIES
Detailed Statement Of Financial Activities For The Year Ended 31st March, 2024
| Detailed Statement Of Financial Activities For The Year Ended 31st March, 2024 |
||
|---|---|---|
| INCOMING RESOURCES Tithes & Offering Total Incoming Resources RESOURCES EXPENDED Charitable Activities Honorarium & volunteer Church expenses Telephone and fax Governance Costs Accountancy fees Support Costs Management Rent & rates Insurance Repairs & maintenance Motor expenses TOTAL RESOURCES EXPENDED NET INCOME |
Unrestricted £ 72,256.00 |
2024 2023 Restricted Total Total Fund Fund £ £ £ 72,256.00 57,061.00 |
| 72,256.00 | - 72,256.00 57,061.00 |
|
| 10,090.00 18,301.00 413.00 |
10,090.00 5,645.00 18,301.00 12,032.00 413.00 679.00 |
|
| 28,804.00 | - 28,804.00 18,356.00 |
|
| 1,695.00 | 1,695.00 1,136.00 |
|
| 1,695.00 | - 1,695.00 1,136.00 |
|
| 33,600.00 8,358.00 77.00 1,529.00 43,564.00 |
33,600.00 33,600.00 8,358.00 5,145.00 77.00 642.00 1,529.00 2,631.00 - 43,564.00 42,018.00 |
|
| 74,063.00 | - 74,063.00 61,510.00 |
|
| 1,807.00 - |
- 1,807.00 - 4,449.00 - |
8