Registered number: 09315818
Charity number: 1170058
CHAPEL OF LIFE
(A company limited by guarantee)
UNAUDITED
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

CHAPEL OF LIFE
IA company limlted by guarantee)
CONTENTS
Page
Reference and admlnlstrative details of the Company, Its Trustees and advisers
Trustees. report
Independent examinerfs report
Statement of financial activities
Balance sheet
Notes to the financial statements
9-18

CHAPEL OF LIFE
(A company Ilmlted by guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 30 NOVEMBER 2024
Trustees
Mr O M Efueye
Mrs M Y Olugbuyi
Mr O Adisa
Ms A K Nwankwo
Company registered
number
09315818
Charlty reglstered
number
1170058
Registered office
Trinity House
3 Bullace Lane
Dartford
Kent
DA1 1BB
Accountants
Hedley Dunk Limited
Trinity House
3 Bullace Lane
Dartford
Kent
DA1 1BB
Page 1

CHAPEL OF LIFE
(A Company limlted by guarantee)
TRUSTEES. REPORT
FOR THE YEAR ENDED 30 NOVEMBER 2024
The Trustees present their annual report together with the financial statements of the Company for the 1
December 2023 10 30 November 2024. The Annual report serves the purposes of both a Trustees, report and a
directors, report under company law. The Trustees confirm that the Annual report and finan¢ial statements of
the charitable company comply with the current statutory requirements, the requirements of the charitable
companls governing documenl and the provisions of the Statement of Recommended Practice (SORP)
applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable
in the UK and Republic of Ireland {FRS102} (effective 1 January 2019).
Since the Company qualifies as small under section 382 of the Companies Acl 2006, the Strategic report
required of medium and large companies under the Companies Act 2006 {Slrategic Report and Direclors,
Report) Regulations 2013 has been omitted.
Objectives and activities
Policies and obJe¢tlves
The ¢haritYs objects are the advancement of Ihe Christian faith in accordance with the Statement of Faith by
any means whatsoever including but not limited to the preaching and proclamation of the Christian Gospel
and the teaching of Christian doclrine, the prevention or relief of poverty by such means as the directors may
from time to lime think fit and to advance education by such means as the direclors may from time to time
think fit including (but not limited to) by leaching basic life skills and teaching basic skills for improved
employability.
There has been no change in the charity's objects during the year.
The Trustees have paid due regard to guidance issued by the Charily Commission in deciding what activities
the charity should undertake.
• Activilie$ undertaken to achieve objectives
1. Chapel of Life partnered with an Islington-based organisation to distribute food packs and Christmas
packages. consisting of long-life and fresh goods for members of the community and the church, in December
2023.
2. Chapel of Life organised a Christmas Outreach Initiative in December 2023. We collaborated with another
local church to sing carols, distribute food and almost 300 winter packs (consisting of hats, socks, flasks and
gloves) to the public and members of the King's Cross community.
3. We supported the House of Wells, Christmas initiative. by donating 200 Christmas food hampers to children
across Africa. including Malawi. Zimbabwe and Kenya.
4. Chapel of Life launched our Shop4Ffee initiative in May 2024. Members of the church donated several
lalmost}Inew clothes, accessories, hygiene essentials, books, long-life food, household appliances and ulensils
to this initiative, and the church also supplemented long-life and fresh food. Members of the community were
invited to come and shop for free, taking whatever they neededlwanted and. in addition, each person was given
a bag of long-life food essentials. Memberslservice users of local schools, nurseries, food banks and colleges,
were invited and were able to take part in and benefit from this iniliative.
5. Many of the remaining items from the Shop4Free initiative were donated to a Nigeria-based charity. where a
similar initiative was held that same year.
6. Chapel of Life enlisted the services of a graphic designer in January 2024. as maintaining consistency and
professionalism to enhance the charity's digital presence across all plaffoms. is essential in outreach,
ommunily engagement and expanding our audiènce.
7. Chapel of Life donated long-life food and essentials to the Chalk Farm Food Bank in August 2024.
Page 2

CHAPEL OF LIFE
(A company limited by guarantee)
TRUSTEES. REPORT (CONTINUED}
FOR THE YEAR ENDED 30 NOVEMBER 2024
Objectives and activities (continued)
8. We continue to live-stream our weekly Sunday services. to connect with a wider community, offering
everyone the opportunity to join our live services, despite not being physically present.
9. We held a summer Family Fun Day at Centre 404 in August 2024, where we welcomed members and friends
of the church, and engaged with members of Ihe public, in a time of sharing, fellowship and food.
10. We held our first Life Academy Bible ¢lass as a live event in October 2024, to which all were welcome. Our
monthly virtual Life Academy classes continue to give a plalform lo different voices. They promote private study
of God's Word and interactive and stimulating discussion to aid individual and corporate spiritual growth.
11. Chapel of Life has donated and contributed to a range of charities that provide support for the vulnerable
and those in poverty and challenging circumstances, whilst continuing to encourage and empower its members,
providing financial and practical support where required.
As a church, we have supported many charities, including, but by no means limited to, those listed below,
between December 2023 and present:
Working Chance - Provides employability support for women with convictions, from Cvs and interview practice,
to disclosing their conviction and boosting their Confidence.
Solace Working to prevent violence and abuse. as well as providing services to meet the individual needs of
survivors, particularly women and Children.
Breaking Barriers - A spe¢ialist refugee employment charity, enabling refugees to build new lives, slep by step.
Disability Rights UK - Offering support including advice. advocacy and housing, to enable local disabled people
to access services and entitlements, and challenging exclusion and discrimination.
The Anna Freud Centre - Listening lo and learning from children and young people. working with them to build
better solutions. and amplI￿.n9 their voices to aid better understanding of mental health conditions.
The Wickers Trust- Offering a range of workshops and programmes that provide underprivileged young people
free opportunities.
The Ben Kinsella Trust - Educating young people on the dangers of knife crime and helping them make positive
choices to stay safe.
Be Enriched - Focused on reducing social isolation, through food. This important work is delivered across a
range of projecls, including the Community Canteen, Food Bus and Kids, Club.
National Autistic Society - Dedicated to transforming lives and changing attitudes. to help the 700,000 autistic
people in the UK and their families, by running specialist schools. training companies and campaigning.
Hope Worldwide UK - Rooted in Christian faith, this organisation is raising funds and mobilising volunteers to
serve the poor and needy in the UK and overseas.
Tender Education and Arts - Working to prevent domestic abuse and sexual violence through creative projects
in the lives of children and young people.
The Cotton Tree Trust - A weltt*ming community that helps people to secure leave-to-remain and rebuild their
lives in the UK.
The Silverlining Charity - Offering opportunities for all those affected by brain injury to get involved in exciting
and purposeful activities in the community.
Adoption Matters - Working towards every child growing up in a secure and loving family, who will best meet
Page 3

CHAPEL OF LIFE
{A company limited by guarantee)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
Objectives and activities (continued)
their long-lerm needs and help them to reach their full potential.
Families Need Fathers - Dedicated to addressing the challenges associated with preserving a child's connection
with both parents amid, and after. family breakdowns.
Down's South London
Helping single Londoners by preventing homelessness, providing support and
accommodation, promoting wellbeing, enhancing opportunity, and being a voice for change.
Financial review
• Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Company has
adequate resources to Gontinue in operational existence for the foreseeable future. For this reason, they
continue to adopt the going concem basis in preparing the financial statements. Further details regarding the
adoption of th8 going concern basis can be found in the accounting policies.
• Reserves policy
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should
be maintained al a level equivalent to between three and six month's expenditure. Thè Trustees considers Ihat
reserves at this level will ensure that, in the event of a signifi¢anl drop in funding, they will be able to continue
Ihe Gharily's current activities while consideration is given to ways in which additional funds may be raised.
This level of reserves has been maintained throughout the year.
• Financlal risk management objectives and policles
The Trustees have assessed the major risks to which the charity 15 exposed, and are satisfied that systems are
n pla￿ to mitigate exposure to the major risks.
Structure, governance and management
Constitution
Chapel of Life is registered as a charitable company limited by guarantee and was set up by a Memorandum of
Association and is a registered under charity number 1170058.
• Methods of appolntment or election of Trustees
The management of the Company is the responsibility of the Trustees who are elecled and co-opted under the
terms of the Memorandum of Associalion.
• Organisational structure and decision making
The Trustees are appointed by way of a vote and recommendation, which is then approved by the board of
trustees through a simple majority.
None of Ihe Trustees has any beneficial interest in the company. All of the Trustees are members of the
company and guarantee to contribute £1 in the event of a winding up.
Page 4

CHAPEL OF LIFE
(A company Ilmited by guarantee)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
Statement of Trustees. responsibilities
The Trustees (who are also the directors of the Company for the purposes of company lawl are responsible for
preparing the Trustees. report and the financial statements in accordance with applicable law and United
Kingdom Accounting Standards {United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial Under company law. the
Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view
of the slate of affairs of the Company and of its incoming resources and application of resources. including its
income and expenditure, for that period. In preparing these financial stalemenls, the Trustees are required to..
select suitable a¢Gounting policies and then apply them consistently..
observe the methods and principles of the Charities SORP (FRS 102).,
make judgments and accounting estimates that are reasonable and prudent.,
state whelher applicable UK Accounting Standards (FRS 102) have been followed, subject to any
material departures disclosed and explained in the financial stalements.,
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the
Company will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain
the Compar¢Ys transactions and disclose with reasonable accuracy at any time the financial position of the
Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They
are also responsible for safeguarding the assets of the Company and hence for taking reasonable sleps for the
prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Truslees and signed on their behalf by..
Mrsmy
Trustee
Date.. 28 August 2025
Page 5

CHAPEL OF LIFE
(A company limlted by guarantee
INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDED 30 NOVEMBER 2024
Independent Examiner's Report to the Trustees of Chapel of Llfe ('the Company,)
I report to the charity Trustees on my examination of the accounts of the Company for the year ended 30
November 2024.
Responsibilitles and Basis of Report
As the Trustees of the Company (and its directors for the purposes of company law) you are responsible for the
preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act,).
Having satisfied myself that the accounts of the Company are nol required to be audiled under Part 16 of the
2006 Ad and are eligible for independent examination. I report in respect of my examination of Ihe Companws
accounts Carried out under section 145 of Ihe Charities Act 2011 I'lhe 2011 Act,). In carrying out my examination
I have followed the Directions given by the Charity Commission under section 145(5)(b} of the 2011 Act.
Independent Examiner's Statement
Since the CoMpan￿S gross income exceeded £250.000 your examiner must be a member of a body listed in
section 145 of the 2011 Act. l Gonfirm that l am qualified lo undertake the examination because l am a member
of Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the
examination giving me cause to believe..
accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act,.
or
the accounts do not accord with those records., or
the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other Ihan
any requirement that the accounts give a 'true and fair, view which is not a matter considered as part of
an independent examination-, or
the accounts have not been prepared in accordance with the methods and principles of the Statement of
Recommended Practice for accounting and reporting by charities lapplicable to charilies preparing their
accounts in accordance wilh Ihe Financial Reporting Standard applicable in the UK and Republic of
Ireland IFRS 102}1.
I have no concerns and have come across no other matters in connection with the examination to which
attention should be drawn in this report in order to enable a proper understanding of the account5 to be
reached.
Signed.. f
Dated.. £?168l
Stephen Fryer
FCA
Hedley Dunk Limited
Pag8 6

CHAPEL OF LIFE
(A company limiled by guarantee)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 30 NOVEMBER 2024
Unrestricted
funds
2024
Total
funds
2024
Total
funds
2023
Note
Income from:
Donalions and legacies
Investments
295,835
105
295.835
105
299,603
12
Total Income
295,940
295,940
299,615
Expenditure on:
Charitable activities
252,878
252,878
242,765
Total expenditur8
252.878
252,878
242,765
Net movement in funds
43,062
43,062
56,850
Reconciliation of funds:
Total funds brought forward
Net movement in funds
526,199
43,062
526,199
43,062
469,349
56,850
Total funds carried forward
569,261
569,261
526,199
The Statemenl of Financial Aclivities includes all gains and losses recognised in the year.
The notes on pages 9 to 18 form part of these financial statements.
Page 7

CHAPEL OF LIFE
{A company limiled by guarantee)
REGISTERED NUMBER: 09315818
BALANCE SHEET
AS AT 30 NOVEMBER 2024
2024
2023
Note
Fixed assets
Tangible assets
10
15,895
17,643
15,895
17.643
Current assets
Debtors
Cash at bank and in hand
6,502
599.882
9,160
543,522
606.384
552,682
Creditors.. amounts falling due within one
year
12
153,018)
(44.126)
Net current assets
553,366
508,556
Total assets less current liabilities
569,261
526,199
Total net assets
569,261
526,199
Charlty funds
Restricted funds
Unrestricted funds
13
13
569,261
526,199
Total funds
569.261
526,199
The Company was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the year in question in accordance with
section 476 of Companies Act 2006.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to
accounting records and preparation of financial statements.
The financial statements have been prepared in a¢¢ordance with the provisions applicable to entities subject lo
the small companies regime.
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by.
Mrsm
Trustee
Date: 28 August 2025
The notes on pages 9 to 18 form part of these financial statements.
Page 8

CHAPEL OF LIFE
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
General informatlon
Chapel of Life is a private limited company by guarantee. registered in the England with Companies
House and the Charily Commission under company number 09315818 and charity number 1170058. The
registered office is Trinity House, 3 Bullace Lane, Dartford, Kent. DA1 1BB.
Accounting policles
2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance wilh the Charities SORP {FRS 102)
Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities
preparing their accounts in accordance with the Financial Reporting Slandard applicable in the UK
and Republic of Ireland (FRS 1021 (effective 1 January 2019), the Financial Reporting Standard
applicable in the UK and Republic of Ireland IFRS 102) and the Companies Act 2006.
Chapel of Life meets the definition of a public benefit entity under FRS 102. Assets and liabilities are
initially recognised at historical Cost or transaction value unless otherwise stated in the relevant
accounting policy.
2.2 Income
All income is recognised once the Company has entitlement to the income, it is probable that the
income will be received and the amount of income receivable can be measured reliably.
Income tax recoverable in relation to investment income is recognised at the time the inveslment
income is receivable.
2.3 Expendlture
Expenditure is recognised once there is a legal or constructive obligalion to transfer economi¢
benefit to a third party, it is probable that a transfer of economic benefits will be required in
settlement and the amount of the obligation can be measured reliably. Expenditure is classified by
activity. The costs of each activity are made up of Ihe total of direct costs and shared costs,
including support costs involved in undertaking each activity. Direct costs attributable to a single
activity are allocated directly to that activity. Shared costs which contribule to more than one aclivity
and support costs which are not attributable to a single activity are apportioned between those
aclivities on a basis consislent with the use of resources. Central staff costs are allocated on the
basis of time spent, and depreciation charges allocated on the portion of the asset's use.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the
Company's objeclives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
2.4 Interest receivable
Interest on funds held on deposit is included when receivable and the amounl Can be measured
reliably by the Company,. this is normally upon notification of the interest paid or payable by ihe
institution with whom Ihe funds are deposited.
Page 9

CHAPEL OF LIFE
(A company Ilmited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
Accounting policies (contlnued)
2.5 Tangible fixed assets and depreciation
Tangible fixed assets are initially recognised al cosl. After recognition, under the cost model,
tangible fixed assels are measured al cost less accumulated deprecialion and any accumulaled
impairment losses. All costs incurred to bring a tangible fixed asset into its intended working
condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cosl of tsngible fixed assets less their residual value
over their estimated useful lives.
Depr8ciation is provided on the following bases:
Planl and machinery
Computer equipmenl
25 % reducing balance
250/0 reducing balance
2.6 Debtors
Trade and other deblors are recognised at the settlement amount after any trade discount offered.
Prepayments are valued al the amount prepaid nel of any irade discounts due.
2.7 Cash at bank and In hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short
maturity of three months or less from the date of acquisition or opening of the deposit or similar
account.
2.8 Liabilities and provisions
Liabililies are recognised when there is an obligation at the Balance sheel date as a result of a past
event. it is probable that a transfer of economic benefit will be required in Settlement. and the
amount of the settlement can be estimated reliably.
Liabilities are recognised al the amount that the Company anticipates it will pay to settle the debt or
the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where
the effect of the lime value of money is material, the provision is based on the present value of those
amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The
unwinding of the discounl is recognised in the Statemenl of financial aGtivities as a finance cost.
2.9 Financial Instruments
The Company only has financial assets and financial liabilities of a kind thal qualify as basic financial
instrumenls. Basic financial instruments are initially recognised at transaction valLJe and
subsequently measured at their settlement value with the exception of bank loans which are
subsequently measured at amortised cost using the effective interest method.
2.10 Pensions
The Company operates a defined contribution pension scheme and the pension charge represents
the amounts payable by the Company to the fund in respect of the year.
Page 10

CHAPEL OF LIFE
{A Company limited by guarantee
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
Accounting pollcles (continued)
2.11 Fund accounting
General funds are unrestricted funds which are available for use al the discretion of the Truslees in
furtherance of the general objectives of the Company and which have not been designated for other
purposes.
Investment income, gains and losses are allocated to the appropriate fund.
Income from donations and legacies
Unrestricted
funds
2024
Total
funds
2024
Donations
295,835
295,835
Unr8Stri¢ted
funds
2023
Total
funds
2023
Donations
299,603
299,603
Investment Income
Unrestricted
funds
2024
Total
funds
2024
Bank interest
105
105
Unrestricted
funds
2023
Total
funds
2023
Bank interest
12
12
Page11

CHAPEL OF LIFE
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
Analysls of expenditure on charitable activities
Summary by fund type
Unrestricted
funds
2024
Totsl
2024
Charitable activities
Ministry Operations
185.657
67.221
185.657
67,221
252,878
252,878
Unrestricted
funds
2023
Total
2023
Charitable activilies
Ministry Operations
180,710
62,055
180,710
62,055
242,765
242.765
Analysis of expenditure by activities
Activities
undertaken
directly
2024
Support
osts
2024
Total
funds
2024
Charitable activities
Ministry Operations
123,806
67,221
61,851
185.657
67,221
191,027
61,851
252,878
Page 12

CHAPEL OF LIFE
(A company limited by guarantee
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
Analysls of expenditure by a¢tiviti8s (¢onlinued)
Activities
undertaken
directly
2023
Support
costs
2023
Total
funds
2023
Charitable activities
Minislry Operations
125,464
62.055
55.246
180,710
62,055
187,519
55,246
242,765
Analysis of direct Costs
Tolal
funds
2024
Total
funds
2023
Personnel
Digital Media
Sounds & Visuals
Welfare
People & Outreach
Guest Experience
Choir & Worship
Charitable Donations
Venue Hire
Events
35,071
1,774
21,277
3,150
1,859
3,287
35,875
35,350
47,374
6,010
35,398
958
24.095
1,000
670
531
34,801
31,524
52,949
5,593
191,027
187,519
Page 13

CHAPEL OF LIFE
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
Analysis of expenditure by actlvities lcontinued)
Analysis of support costs
Total
funds
2024
Tolal
funds
2023
Personnel
Depreciation
IT Costs
Insurance
Professional Services
Training & Development
Advertising & Marketing
Central Operations
42,343
4.927
3.457
3,762
2,520
305
39,414
5.498
2,285
2.398
2,456
533
60
2,602
4,537
61.851
55.246
Independent examinevs remuneration
The independent examinerfs remuneration amounts to an independent examiner fee of £1,056 (2023
- £1,032), and other services of £1,464 (2023 - £1,424).
Staff costs
2024
2023
Wages and salaries
Social security costs
Contribution to defined contribution pension schemes
74,265
1,482
1,666
71,366
1.810
1,637
77,413
74,813
The average number of persons employed by the Company during the year was as follows..
2024
No.
2023
No.
Slaff
No employee received remuneration amounling to more than £60,000 in either year.
Page 14

CHAPEL OF LIFE
{A company limited by guarantee
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
Truslees. remuneratlon and expenses
During the year, no Trustees received any remuneration or other benefits12023 - £NILI.
During the year. one Trustee received remuneration from an employment with the Company. Rev. Efueye
did not receive remuneration for his role as trustee but for his services as a Reverend. The company paid
Rev. Efueye a salary of £32,792 (2023- £32,792> and made pension contributions of £79712023- £797}.
During the year ended 30 November 2024, no Trustee expenses have been incurred (2023 - £NILI.
10. Tangible fixed assets
Plant and
machinery
Computer
equipment
Total
Cost or valuation
At 1 December 2023
Additions
51,702
1,793
8,190
1,386
59,892
3,179
At 30 November 2024
53,495
9.576
63,071
Depreciation
Al 1 December 2023
Charge for the year
36.922
4,095
5,327
832
42,249
4,927
At 30 November 2024
41,017
6,159
47,176
Net book value
At 30 November 2024
12.478
3,417
15,895
11. Debtors
2024
2023
Due within one year
Prepayments and ac¢rued income
6,502
9,160
6,502
9,160
Page15

CHAPEL OF LIFE
(A company Ilmited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
12.
Creditors: Amounts falling due wlthln one year
2024
2023
Trade creditors
Other tsxation and social securFty
Pension fund loan payable
Accruals and deferred income
197
53
324
52,444
10,813
1,461
648
31,204
53.018
44.126
13.
Statement of funds
Statement of funds - Current year
Balance at
30
November
2024
Balance at 1
December
2023
Income Expenditure
Unrestrlcted funds
General Funds - all funds
526,199
295,940
{252,878}
569,261
Statement of funds - prior year
Balance at
30
November
2023
Balance at
1 December
2022
As restated
Income Expenditure
Unrestricted funds
General Funds - all funds
469,349
299.615
{242,765)
526.199
Page 16

CHAPEL OF LIFE
(A company limited by guarantee
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
14. Summary of funds
Summary of funds - current year
Balance at
30
November
2024
Balance at 1
December
2023
Income Expendilure
General funds
526,199
295.940
{252.878)
569,261
Summary of funds - prior year
Balance at
30
November
2023
Balance at
1 December
2022
As ￿stated
Income Expenditure
General funds
469,349
299,615
{242,765)
526.199
15. Analysis of net assets between funds
Analysis of nel assets between funds - current perlod
Unrestricted
funds
2024
Total
funds
2024
Tangible fixed assets
Current assets
Creditors due within one year
15,895
606,384
153.018)
15,895
606,384
153,018)
Total
569,261
569,261
Analysis of net assets between funds - prior period
Unrestricted
funds
2023
Total
funds
2023
Tangible fixed assets
Current assets
Creditors due within one year
17,643
552,682
144,126)
17,643
552,682
{44,1261
Total
526.199
526,199
Page 17

CHAPEL OF LIFE
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
16.
Pension commitments
The company operates a defined Gontribution pension scheme. The assels of the scheme are held
separately from Ihose of the company in an independently adminislered fund. The pension cost charge
paid by the company during the year was £1.66612023 £1,637), the amount included in creditors at Ihe
year end is £324 (2023- £648).
17.
Related party transactions
Rev. Efueye is also a trustee of Charis Communications, during the year Chapel of Life paid tithes to
Charis Communications of £Nil {2023 - £7,568).
18.
Prior year adjustment
The financial statements have been restated in Ihe year to 30th November 2023 to provide further
clarification on the nature of expenditure. The nel movement of these adjustments is £nil' there is
therefore no impact on total funds.
Page 18