Peniel Church of Christ
( A not-for-profit unincorporated Organisation)
Charity Number: 1169802
Report of the Trustees
Financial Statements
for the Year Ended 30 June 2024
1
Peniel Church of Christ
( A not-for-profit unincorporated Organisation)
Index to the financial Statements for the Year Ended 30 June 2024
||Page|
|---|---|
|Organisation Information|3|
|Report of the Trustees|4-5|
|Independent examiners report|6|
|Statement of financial activities|7|
|Balance sheet|8|
|Notes to the Financial Statements|9-12|
|Detail financial statements|13-14|
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Peniel Church of Christ
( A not-for-profit unincorporated Organisation)
Organisation Information TRUSTEES:
Olubusayo Sunday Olaniyan **Chairman** Oluseyi Shokunbi Temilola Eunice Omisakin
Charity Number: 1169802
## PRINCIPAL ADDRESS:
Unit 11 Old Tramyard Lakedale Road London SE18 1PW
ACCOUNTANTS: Gabriel & Associates
( _In association with Chessons Chartered Certified Accountant & Registered Auditors) 293a High Road Leytonstone London E11 4HH_
3
Peniel Church of Christ ( A not-for-profit unincorporated Organisation ) Report of the Trustees for the Year Ended 30 June 2024
The trustees present their report with the financial statements of the organisation for the year ended 30 June 2024. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities (revised 2005)” in preparing the annual report and financial statements of the organisation.
## **GENERAL INFORMATION**
The church is an unincorporated association, governed by a Constitution.
## **TRUSTEES**
The trustees during the year under review are as listed on page 3. Members of the Church at Annual General Meeting appoint new trustees. They are re-elected annually. The trustees met regularly during the year.
## **OBJECTIVES, ORGANISATION AND ACTIVITIES**
The objectives of the Church, as set out in the Constitution are as follows:
The advancement of the Christian Faith.
The relief of persons who are in conditions of need, hardship or distress or who are aged or sick.
The advancement of education on the basis of Christian principles.
The Church engages in the following activities in order to further these objectives.
a. Holding weekly meetings which are open to the public
b. Running community projects c. Organising activities and groups d. Working closely with other Christian organisations.
## **RELATED AND CO-OPERATING CHARITIES**
The Church does not have any related charities.
## **ACHIEVEMENTS DURING THE YEAR**
The church established food bank for the benefit of the wide community as well members of the church. Also, the church organised health and wellness open day for the general community A range of seminars were organised for single people in the church with teachings on marriage institution. Also, the church conducted youth empowerment programme with lecture on information technonology and career choices.
The church membership grew in number as a result of envangelism and outreach in the local community embarked upon by volunteers.
4
## Peniel Church of Christ
( A not-for-profit unincorporated Organisation )
## STATEMENT OF TRUSTEES’ RESPONSIBILITIES YEAR ENDED 30 June 2024
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 charity and of its financial activities for that year. In preparing those financial statements the trustees are required to:
## select suitable accounting policies and apply them consistently;
## make judgments and estimates that are reasonable and prudent;
state whether the policies adopted are in accordance with the Statement of Recommended Practice, “Accounting and Reporting by Charities (revised 2005)” and with applicable accounting standards, subject to any material departures disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to assume the charity will continue operating.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 1993. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud or other irregularities.
5
Peniel Church of Christ ( A not-for-profit unincorporated Organisation )
## **INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEE**
## **YEAR ENDED 30 June 2024.**
I report on the financial statements of the Church for the year ended 30 June 2024, which are set out on pages 7 to 13.
## **Respective responsibilities of trustees and examiner**
As the Church’s trustees you are responsible for the General Directions given by the Charity Commissioners. An independent examination includes a review of the accounting records kept by the Church and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, 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 financial statements.
## **Independent examiner’s statement**
In connection with my examination, no matter has come to my attention
which gives me reasonable cause to believe that in any material respect the requirements to keep accounting records in accordance with section 41 of the Act, and to prepare financial statements which accord with the accounting records and to comply with the accounting requirements of the Act, have not been met, or
to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached.
Gabriel Akintunde Gabriel & Associates 293a High Road Leytonstone London E11 4HH
6
## Peniel Church of Christ
( A not-for-profit unincorporated Organisation )
## Statement of Financial Activities
for the year ended 30 June 2024.
|Notes
**Incoming resources**
Donation/grants
2
Activities in furtherance
of the Church objects
3
Investments income
4
**Total incoming resources**
**Resources expended**
Grants payable in
furtherance
of the Church’s objects
5
Costs of activities in
furtherance
of the Church’s objects
6
Support costs
7
Management and admin
8
**Total resources expended**
**Surplus/(deficit) on ordinary**
**activities before funds transfers**
Balance B/Fwd
Fund Balance as at 30 June 2024|Unrestricted
funds
Restricted
Funds
30 June
2024
30 June
2023
£
£
£
44,568
0
44,568
35,489
0
0
0
0
0
0
44,568
0
44,568
35,489
5,520
0
5,520
4,290
4,454
0
4,454
4,086
38,459
0
38,459
22,456
0
0
0
48,433
0
48,433
30,832
-3,865
0
-3,865
4,657
10,034
0
10,034
5,377
6,169
0
6,169
10,034|
|---|---|
The Church has no recognised gains or losses other than the results for the period as set out above. All of the activities of the Church are classed as continuing.
7
Peniel Church of Christ
( A not-for-profit unincorporated Organisation )
## Balance Sheet
|as at 30 June 2024
Notes
**FIXED ASSETS**
Tangible assets
12
**CURRENT ASSETS**
:
Debtors and prepayments
13
Bank:
Current A/C
7,009
Deposit A/C
0
High Interest A/C
0
**CREDITORS**
:Amount falling due
within one year
**NET CURRENT ASSETS**:
**CREDITORS**
:Amount falling due
after one year
**TOTAL ASSETS LESS LIABILITIES**
REPRESENTED BY:
Restricted funds
Unrestricted fund
**TOTAL FUNDS**
APPROVED ON BEHALF OF THE TRUSTEES
Name -----------------------------------------Signature
Name-----------------------------------------Signature
Date…………………………………………………….|30 June 2024
£
0
0
7,009
840
6,169
0
6,169
6,169
6,169
-----------------------------------Trustee
-----------------------------------Trustee|30 June 2023
10,874
10,874
840
10,034
10,034
10,034
10,034|
|---|---|---|
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1
## Peniel Church of Christ
( A not-for-profit unincorporated Organisation )
## **ACCOUNTING POLICIES**
Accounting convention
The financial statements have been prepared:
## · under the historical cost convention
in accordance with the Statement of Recommended Practice (SORP Accounting and Reporting by Charities (revised 2005)”, and applicable accounting standards.
## Fund accounting
Unrestricted funds are general funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the Church and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Church for particular purposes.
The cost of raising and administering such funds are charged against the specific fund. Investment income and gains are allocated to the appropriate fund.
## **Incoming resources**
All incoming resources are included in the statement of financial activities when the Church is legally entitled to the income and the amount can be quantified with reasonable accuracy.
No amounts are included in the financial statements for services donated by volunteers.
## Resources expended
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category.
Fundraising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities.
Management and administration costs are those incurred in connection with administration of the Church and compliance with constitutional and statutory requirements.
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## Peniel Church of Christ
( A not-for-profit unincorporated Organisation )
|2
**DONATIONS AND GRANTS**
30 June 2024
£
Tithes & offerings
44,568
**44,568**
3
**ACTIVITIES IN FURTHERANCE OF THE CHURCH OBJECTS**
£
**0**
4
**INVESTMENT INCOME**
£
Bank deposit interest
0
**0**
Peniel Church of Christ
( A not-for-profit unincorporated Organisation )
5
**GRANTS PAYABLE IN FURTHERANCE OF THE CHURCH’S OBJECTS**
30 June 2024
£
Donation
5,520
**5,520**
6
**COSTS OF ACTIVITIES IN FURTHERANCE OF THE CHURCH’S OBJECTS**|30 June 2023
28,305
**28,305**
**0**
0
0
30 Jun 2023
4,290
**4,290**|
|---|---|
10
|||30 June 2024|30 June 2024|30 June|2023|
|---|---|---|---|---|---|
||||£|||
||Advertising & public relation||1,065||835|
||Insurance||189||261|
||Honorarium||905||750|
||Outreach expenses||2,295||2,240|
||||**4,454**||**4,086**|
|7|**SUPPORT COSTS**|||||
||Accountancy fees|30 June 2024
£
840||30 June|2023
840|
||Cleaning||495||465|
||Equipment expensed||469||4,504|
||Information & publication||1,805||1,750|
||Light & heat||366||841|
||Rent|29,200||12,100||
||Stationery & printing||322||205|
||Sundry||941||92|
||Telephone||640||408|
||Travel & Subsistence||1,952||1,084|
||Rates||1,429||167|
|||**38,459**||**19,637**||
||Peniel Church of Christ|||||
||( A not-for-profit unincorporated Organisation )|||||
|||30 June 2024||30 June|2023|
|||£||||
|8|**MANAGEMENT AND ADMINISTRATION**|0||0||
|9|**TRUSTEES’ REMUNERATION AND EXPENSES**|||||
||No member of Trustee was paid during the year under review.|||||
|10|**STAFF COSTS**|||||
||The average number of employees, calculated on a full-time equivalent basis, analysed by function was;|||||
|||30 June 2024||30 June|2023|
||Charitable activities|1||1||
||Management activities|1||1||
|11|**TAXATION**|||||
11
The organisation is not for profit, and does not trade or undertake non-charitable activities.
|Peniel Church of Christ
( A not-for-profit unincorporated Organisation )
30 Jun 2024
13
**CREDITORS : AMOUNT FALLING**
**DUE WITHIN ONE YEAR**
Accrued expenses - Accountancy fee
840
Sundry
0
**840**
**14**
**CREDITORS : AMOUNT FALLING**
**DUE AFTER YEAR**
0
**15**
**ANALYSIS OF NET ASSETS BETWEEN FUNDS**
Restricted
General
Fund
Fund
£
£
Fund Balances at 30 June 2024:
Fixed assets
0
Current assets
7,009
Current liabilities
-840
Long term liabilities - mortgages
0
6,169
**16**
**STATEMENT OF FUNDS**
At 1 July.
2,023
Income
Expenditure
**Unrestricted funds:**
£
£
£
General reserve
10,034
44,568
48,433
0
0
0
0
10,034
44,568
48,433
**Restricted funds:**
Special offerings
0
0
0
**TOTAL FUNDS**
**10,034**
**44,568**
**48,433**|30 Jun 2023
840
0
**840**
0
Total
£
0
7,009
-840
0
6,169
At 30 June
2024
£
6,169
0
0
6,169
0
**6,169**|
|---|---|
12
Detail Financial statements for the year ended 30 June 2024
for
Peniel Church of Christ
( A not-for-profit unincorporated Organisation)
13
## Peniel Church of Christ
**----- Start of picture text -----**
( A not-for-profit unincorporated Organisation )
Income/Receipts £ £
Tithes and Offerings 44,568
Interest receivable 0
44,568
Expenditure
Accountancy fees 840
Advertising & public relationship 1,065
Cleaning 495
Donation 5,520
Insurance 189
Equipments expensed 469
Honorarium 905
Information & publications 1,805
Light & heat 366
Outreach expenses 2,295
Rent 29,200
Stationery & printing 322
Sundry 941
Telephone & fax 640
Travel & subsistence 1,952
Rates 1,429 48,433
Surplus/(Deficit) -3,865
**----- End of picture text -----**
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