CHRIST LADDER MINISTRIES TRUSTEES REPORT AND ACCOUNTS 31" DECEMBER 2024 X-star Management Services Limited CHRIST LADDER MINISTRIES Flat 48 G•yhurst Hopwood Road London SEI 72BL
CHRI.5T LADDER MINisfiuES REPORT OFTHE TRUSTLES FOR THE YEAR ENDED31 DECEMBER 2024. Thc Irustce5 of ihc chaTily pfE5eiit their report wilh ihe financial Stslcwnts ST of the charity for thc ycar 31 tkc¢mlKr 20?4. Thc trustees have adopted the PT0ViSi ofthe Sthtement of Recommendcd PrdctiLC ISIIRPI 'A¢counting and Rcix)rting by Charities. tSSULxI in March ?005. REFERENCE AND ADMINISTRATIVE DETAIIS Regislered Ch*rily Nwmber I1633 Registe offwe C'HRIST LADDER MINISTRIES Flat 4 Ciayhursl HOpWxl Road London S117 2BL Trujltts Pa¥lor Franci> OlwTh)sun Pusior ()luwJkkmi Onabani) P)%lor ()luwatoyin Adercle Mr Vicior UguEJdi Pa>lor11gbuiunde AdLdil)u Evnn8cli%i Juliona (>bDundipc Mr JidL Abudu AldLjuyigbc Truslce TN51¢¢ Trnslcc Ichaimiun) Trnslee Independent Lxsminers x-.siar Managemeni SeTvice5 LiMid 51 Saxvillc Road Orpingl()n. K¢nt BR5 3AN Bankers Natiibnal Wc41sninslLr Bdnk 2 GrL'Lnwi¥li ChurLh Strccl L()nth)n SE109BQ
STRIIC.TURE. GOVERNANCE AND MANAGEMEiYr
Governfftty% document
Th¢ charily is controlled by its governing dLKument. Ihc Con51i¢ution JT)d constiiuies
a Charity. &s defined by tk Clwities Act 2011.
Membership of trustee board.
The trnstees ofthe charity arc also voluntsry tsue¢S for the purp)ses of charity law
and undLr the chariiy's Conslltution arc kTh)wn as mcmbus of ihe Trnslees Ilodrd.
Induction training of iThsttt
All tru8tLes famfftliar with the practiL71 work of the chh and hav¢ undertaken
trnining lo %upport thLir rolc.
Or%anisationAI SIrCture
Thc Tru8lcc Board mee1% quarferly and a quarterly branch fcedback reporf 1% giiven al
each mLLling. ThL Branch Pas'lor has ihL" reswn5ibtlity for day to day op¢rdtion41
management of thL Lhiirch suppon¢d by thL A4i%lant Pa4lor ¢l¢¢i¢d by Ihe branLh.
Risk mgn&gement
The TruslLCS have a duly lo i(knlify Jnd reviciN' the riskb lo .hILh lh¢ charity is
¢xwscd and io Ln%urc approprii¢ ¢ontrols arc in placc lo provide r¢asonable
a4%uran¢L again%i fraud and Lrror.
IntLrtial control risks are minimised by ihc Implemcnwiij of Proccdures for
auiliori.%ation of all irJnsa¢iions and PTOjLl& Pr
AC.'HIEVEMENTS 2024 AchievemeDts a) Wc wcrc ablc io reach out to many pcoplc on Faccbwk and YouTub¢. bl Wc Managed to caTry Iwr yiKtth along arml enlighten thcm abDui ihc evil ofbcing a gJng mcwnbcr c) Wc wcrc ablc io SUPPOrt membe¥s with food using the church f(KKllKk. d) Wc did suppon singl¢ parcnis who nccdcd counsclling. c) Wc urgani1 s¥min#ra for wuinL'n t4) hL.Ip willi rainily Kwii%ibilili¢%. l) Wc rnemb¢Ys Out for la) gathering% allowing dilT¢T¢nl Luliurc% to m¢ei and %hare cxpertcnccs 202$ Expe¢¢ations I We will further 4uppr)rt %¢rtgle in ihe Lhurch and ihe commuftity. bl Wc have decidcd io organi7¢ ihre¢ women wminars thi4 yrar. We have doJK one already. c) Wc inlcnd io irnv¢l out%idc on a day trip kn Ouisidc Lonth)n. d) WL are pl#inning to invitc youih frDm thilwr'? chuTche% Io WOTk with our youth. ) WL have bought thblL Icnni% for men dnd womLn lo sucializ¢ un WCLkend ()ur womLn arc coming logcihcr la i¢ach caLh Otr how io prL'parc diffcrcnt ty% or food. 8) L hri81 Ldddcr Minislrics undcrtLxth VernI aclivili¢5 in i1 ycar 2024 whiLh by ihc (irdcc ofciud iumlxl ()ui to IK. a ycal %uccc&%. S¢)mL of our hlEyM¢nL% WLfL' in tlic arLu% or Youth M¥nli)ring.. Fttmily menli)rins bDih %pirilually. mJl¢Tially. cmotionally. and mciitally will Loiilinue l?) ThL Lharily JblL tv sup1 In f¢Lxling ihc privilLgLd in LB ofsuuihwark. The harily Lvnlribulixl ¢lothc%. fixxl and oihcr nlld and iiem% Ihal c()uld k bcnLfiLial to individuals in ikn ¢hurch and t. wid¢r community. "INANC."IAL, Rfr:VILW Finxncil Perfom4n¢e: Tr r¢wlt$ of ihe year showed a deficit of £14,554 9 dcpiclcd in ihL %talcnKnl ur rinala1 aclivilie% and ihL" nolc% ihcrcin. Alihough the charity made a net expcndiiurc. the resc for the prcviow% year enough lo cover that and ihercfore thc charity was ablc lo achievc all thc tsrg¢ts. ThL deticil is cxplainLknd by thc ntInued cffcds of ihe cost of living crisis in ihc country. Sincc the Lhurch r¢llti on ihL frc¢will gyivinu by ¢h¢ mcnibcts. il is obvious that thc impact it has on families and indii'iduttl.s will be tran%fcrred to thc finllneial posilion ofih¢ ¢hurch.
Ruerves polity The tnJst(s review the reserves of the chariiy 3nnllY #nd knowledged that ihe level of funding at present will pul t1 Church in a pJsili(yn wkre li has io dig deeper into its" re&erves. However. when we eotLsider the gr0h in Thumr5 and donion rccLipl% p()licy implctnented rceommendcd in ihe irnSiL. FM)ard. Ihe Iru%tLY.s are confident that the church should be in a wsition to 5uslain ilsclf mor¢ ¢liVe]Y. It i% the tnJ51ees' poliLy lo generally maintain rcseTves at a low levcl and tc) apply donation Tr¢cipts to funding its activities. In light ofthe income gcncrated ihctrustccs on%idLr lh¢ balancc ofihe UrLtrICied funds to be liraLlory in meeling the church obligations slK)uld potential liabililies arise. PTiffj¢ip*I fundinz sourt At prcsenl the majority of ihc church'5 funding continu¢% lo ¢omc from lh¢ tithes and collection of alms and the Sla1 app1 for priority nccds. AnuihLf 5uurec of fundAng has bn gi(t aid rcvcp&ions fr(>m th¢ HMRC in rcspcet of donation% reLeivcd. FIITIIRF. DF.VF.I.OPMENTS: To bring mor¢ youth to Christ by Working with them ilwough Saiurdays coaching in English and Mathematics. To r¢con¢ile disputes between couplcs by visiliTbg mo¥¢ families. To ¢vong¢lisc and hclp homcless FKx>ple in ih¢ Community To organi8c brake faq ON¢ a monih for le&¥ privile8c pcople in our community To f5 mor¢ on how lo visii ihc prison and pray wilh PLX)plc and cncournge them.
STATF.MENT OFTRUSTEES RESPONSIBII.ITIF.S Thc Irusiees ate rthponsible for prcparing the financial teMentS in accordance with appliLablc law and Uniicd Kingdom Generally AccciALThd Accounting Practice (UK GAAP). Charily law requirL's tIK' truslees lo prepare finanLial statcmcnts for cach financial ycar. Undcr that law ihc Irustccs hav¢ ¢lccted io prep&L the financial siatcmL'nts in aLLordanLL wilh ik. UnitL.d Kingdom GkThrnlly AcccNcd Accvunling PTaLlice (United Kingdom Accounting Stsndard5 and applicabl¢ law). Tr financial slalemenls are required by law io give a true and fair view of ihe slate ofalTaiTh of the charitablc company and of ihe Surplus or deficil of the charitable company lor tl)at period. In preparing those financial stalcmcnts, thc arc r¢quid io". SclLCt suithblc accounting policics and ih¢n apply ihem consislcntly. MakL judgcmcnls and cslillJal¢s ikni are reasonable and prndcnl. PreparL the fInarla1 4alcmcnls on ihc going COJ*Lm basi% unle88 it iy inapproprialL lo preiumc ihai ihL Lhariiable CoMnY will L<)r)linuc in business. Thi Inis1¢¢5 ire res}nsIble for kccping prop¢r coUntIng record% which di.10¢ willi onabl¢ JiLurJLy at any limL ihc financial p(V•ilion of IhL LharitablL company and to cnablc ihem io Cnsure that the financial slatcmcnls comply wilh the Charitic% ALI 2011. Thcy ar¥. also TcsponsiblL for safcguarding Ihc of il charity and hcncc for laking ffLsonablc steps for prcvenlion and dcteciion of frdud and othLr irrL%ularilic STAI'kMENT AS TO DISCLOSURL OTr INTrORMATION I'O INDEPTr.NDF.N'f LXAMlh'ERS 80 lar a% thc iru51c¢s arc awarc. thcrc 15 no rcl¢vani infomialion of which the Lharity s indLpcndent Lxamin¢pi arc unaware. and Lalh iruqcL ha% thkLn all ihc 5fcps ihal ih¢y oubhi to havc iak¢n as a I51CC in ordcr lo make them awarc of any xamitkition inforniation and to e%iablish thai ihc ch4rily's indcpLndcnl ¢Xominers arc aware of ihat infornwtion. INDEPEIYDF.NT EXAMINERS Th¢ indLpcndent cxamineN X-star Manag¢nwni Serviccs Limiicd, will E pr()pSed for re-appoinlm¢nt ai ihe forthcomsng Annual Gene] Mcding. ON BF.11A1.F OF TFIE BOARD: Name: Pastor Oluwatoyin Aderele C".h4irman Date 2510412025
INDEPENDENT EXAMINER'S REPORT TO THE TRusfEES OF CHR15f LADDER MINISTRIES. This rert is made sclety lo the Chwth CtwwKI (fwskns) in ilh SocJ)n 145 ofthe Charitles Ad 2011. My work h•6 50 Ihat we nyght $1 to dwrity's IIKW nwIt0 TA• 8m r8quired to stale Ihem in an IFendl ExamFWs wwt gnd Th)other tAJfFXJSe. To tulknt extent permitted by . we donol a(trpt reSPty lo anyt Ihan Ihe Chwch and the Churth's trustee5 for eyarmth The Churth's truses are resF•Jnth l)r the wepar8trm ofth8 Thvjf ccfftsider Ihal an alItI8 not required Ihi5 year lurmjer 144 ofthe Charlies Act 2011 (the CIwilt P&tll that an It Is oui respon5itMlity b.. To lollowlhe prctethjres h) the t)ireciws ly/ Ihe Chlty Commls (under 14515Xbl of th¢ Chitss Ac41.' and 8481• of Indend• Examln•rf$ r•p(xl Our examinalKJn was (rr oul in &LXxd88Ikn Ihe G¢rml by Ihg ChHry An exwnin81Th id$S • ra¥iv•J ol Ihj x(411&r¥U fecryd8 kepl by Ihe Chw¢h 8ThJ a rxbW8IiFn of th a¢untS prnIed vAth lkne rncx)rds. 11 al irt4udes wigidgr8llL cd any unusual Ilwn$ cy dWxuw•8 h) the accoun15. ornj seekng 8XFAanation5 IrDm as $1¥S Y mgtter5. con$equenty opwiTh is 8$ lo wh8th8r the wesenl g'ln ¥lw ond the rewt18 Ilmil lo Ihoae matters Set th? slaknment bekmf. Ind•pend•nt Examin•rt l•tsm•nt • kn k88p •(xwnI1 0)rdS in •lxxxd ilh SeelTh 130 of Ih8ChariknsAd: a)d requirgments of Chwiim P4 Have not t¢n or 2. To whth. C)n, atterikn bg drawn n owdttr a pw urstgnding oflho au&unls to be re8cld. EMMANUEL NTLM. M8¢. A¢CA 53 Saxviife Road Orpingtm. K•rt BR5 3AN
CHR15T LADDER MINISTRIES STATEMENT OF F114A14CIALACTMTIES FOR ACCOU14TS PERIOD ENDED 31ST DECEMBER 2024 NOTE GENERAL RESTRIrn IOTAL TOTAL INCOMING RESOUR Voluntary Income Gift Aid Receipts Other Income Investment Income 96,091 16,963 96,091 16,963 81,307 29,IX13 43 43 TOTAL 113.097 113JJ97 110310 RESOURCES EXPENDEtr. CHARITABiE EXPENOITURE; Bulldint ProJEc15 Management & Admlnlstrations 127,651 127.651 127.651 127.651 186.115 186.115 TOTAL NET RESOLIRCES EXPENDEtr. -14.554 -14,554 -75.805 NET MOVEMENTS FUND5 BALANCE BROUGHT FORWARD l(Kl.947 100.947 NET RESOURCES EXPENSED DISPOSAL OF ASSETS TOTAL -14.554 -14,5S4 176,752 86393 86393 l(Kl,947
CHRIST LADDER MINlSlliiES BALANLT SHEET AS AT 31st 0£MBER 2014 2024 NOTE NoTrCurrent Asse1& Tangible FFxed Assets Investments Total Non-current Assets 13.261 18,767 13.261 18,767 Current Assets: Cash at Bank Debtors Prepayments IReni Deposltl Gift Aid Receivable5 Totsl Currenl Assets 12.166 21.215 42.( 54.166 63215 CREDIT(IRS: Amount falling Due ¥rithln one yeBT'. Professional Fees Taxes Other Creditors Totsl Current UatlItIeS 699 Net Current Assets 53.467 62,516 NET Er5 66.729 81.283 FUNDS: Accumulated Funds Surplus lor the year 81.282 .14,554 157.088 -75.805 81.282 Signed by:......... Position: Chalrman of Trustees Board Date: 2510412025
CHRIST LAI)DER MINisfRIES NOTES TO THE FINANCIAL StATEMENT- 31- DECEMBER 2024 I. ACCOUNTING POUCIÉS The financial statements have been prepared in accordan with applicable accounting stsndard5 and the Charities SORP. The financial statements have been prepared under the historical cost convention except for the valuation of investment assets, which are shown at market value. The financial statements indude all transactions, assets and liabiltties for whKh the Church Counc•l is reskN)nsible in law Re5trKted Funds represents donations or 8rants lel¥ed for a specific object or invited by the Church Council for a Specific objett. The funds may only be expended on the specific objett for which they were given. Any balance remainin8 unspent at the end of eath year must be carried forward as a balance on that fund. Genernl Funds (Unrestrlrted Funds) are general funds whith can be used for Church Counol ordlnafy purposes. INCOMING RESOURCES Collections are reco8nised when made. Amounts receivable under covenant are Cognised onty whffi honoured by the covenanter. Income tax recoverable on covenanted or gift aid donations is fecognised when claimable. Grants and legacies are accounted for as soon as the church council is notified of its entitlement. Funds raised by the fete and similar events are accounted for grosk RESOURCES EXPENDED Grants and donations are accounted for when paid over. Of when awarded. If that èward creates a bindin8 or constructive obligation on the Church Counal. Amounts received Specifically for mission are dealt with as restficted funds. All other expenditure is recognised when it is Incurred and is accounted for 8ross. FIXED ASSETS Other fixtures, ffttings and Offi equipment are ststed at cost when incurred. OEPRECIATIOI4: Flxtur8s and FitiiTr 4 Y•a Strai bASi8. Equlp¥Mnt
CHRIST LADDER MINISTRIES NOTES TOTHE ACCOUN15 FOR THE YEAR ENDED 31st December2024 2024 INCOMING RESIXIRCES Totsl Voluntary Income Tothes & Offerrng Pledge Gift Aid Returns Investment Income Other Donations 96.091 96.091 81.307 16.963 43 16,963 43 29,(Q3 soo li010 113,097 113.097 8uildin8 Project: Sundry Donatlons TOTAI 113,097 113.097 110.810 In¥estmeTrt Income Interest, Dividend and Gains TOTALS 113,097 113,097 110.810 CHRIST LADDER MINISTRIES NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 3tst Detember 2024
CHRIST LADDER MINISTRIE5 NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 3tst December 2024 2023 Trtal 3 RESOURCES EXPENDEtr. 14t & RentlRateslcouncil lax Wellare Repairs & Renewals Music Programs I InstNmentalists/mEdja Service Charge Storage Accountancy Subscriplion Insurance (Building & Carl Stalionery& Postage Bank Charge5 Adminislralion Cosl TelephonelFax & Intemet Utilitie5 Trainin8 Depreclailon Clèaning Missionary Expenses Staff Wages Taxes 57.866 57.866 49.713 1.930 22.350 7.045 8.286 2.7rAJ 8.286 2.700 789 1.899 155 1.720 2.10) 155 1.720 2.316 587 587 15.449 1,973 1.776 2.149 1,820 2.149 1.820 6,506 10.206 164 31,585 30,( 24,675 io.( 127.651 24,675 io.¢X*) 127.651 186.115 li
CHRIST LADDER MINISTRIES NOTES TO THE ACCOUPIT5 FOR THE YEAR ÉNDED 31st t*cember 2024 3. TANGIBLE NOKURRENf ASSET&. Equ Motor V Fwnllure & TOTAL COSTIVALUATION Bal a5 at oiloV2024 Addilions Bal as at 3111212024 16.558 25,023 2.754 44.335 17.558 25.023 2.754 45,335 DEPRECIATION: (Basis- SL 25%) Balance as ai oil0112024 Charge lor the year Balance 3$ at 31112n024 16,558 6.256 250 6,256 16.808 12.512 1754 25,568 6,506 32.074 2,754 NET BOOK VALUE Bal as at 3111212023 Bal as at 3111212024 18.767 750 12.511 18,767 13.261 Bafftk & Cash 8alances: 2024 2023 Natwesl Banklchurch t.) Investment Account 6.387 5.779 12,166 21,215 21.215 5. Credltofs '. (Amount Fallln8 Due within one yearl 2024 2023 Professional Servlee Taxes Other Creditors 699 699 12