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2023-05-31-accounts

Charity Commission Registration No. 1176824

JERUSALEM CHURCH OF THE LORD INTERNATIONAL ''ILE- EWE''

Report and Accounts

31 May 2023

JERUSALEM CHURCH OF THE LORD INTERNATIONAL ''ILE- EWE''

Report and accounts Contents

Page
Administrative information 1
Trustees' report 2 - 3
Independent Examiners' report 4
Statement of Financial Activities
5
Balance sheet 6
Notes to the Financial Statements 7 - 9
(inclusive of detailed Income & Expenditure)

JERUSALEM CHURCH OF THE LORD INTERNATIONAL ''ILE- EWE''

Trustees

AYOMIDE SADARE EKO-DAVIDS FOLASHADE OLUBUNMI AMOLEGBE IBIYEMI OLUKEMI SADARE ABIODUN JOSEPH AYENI

Independent Examiner

DELANI AWE & CO CHARTERED CERTIFIED ACCOIUNTANTS 14 BRIGHT ROAD CHATHAM KENT ME4 5HH

Registered office

109 BASTION ROAD LONDON SE2 0RH

Charity Registered number 1176824

1

JERUSALEM CHURCH OF THE LORD INTERNATIONAL ''ILE- EWE''

Trustees' Report

The Trustees present their financial statements for the year ended 31-May-2023

The Trustees presented their report along with the financial statement of the charity for the year ended 31 May 2023. The financial statements have been prepared on the accounting policies set out in note 1 to 3. The financial statements comply with the charity's constitution applicable law and requirements of the Statement of Recommended Practice (SORP 2005) "accounting and reporting by charities".

Charity Details

A list of names and addresses of the charity principal officers and bankers is set out on page 2.

Objectives

The charity’s principal activity is the proclamation of the Gospel of Jesus Christ.

Organisation

Jerusalem Church of The Lord International ILE EWE is governed by a board of Trustees who are elected to serve the Church and run its affairs. Annually the Board reviews the range of skills it has available and uses its power of co-option to ensure that gaps are filled.

Risk and Internal Control

The Trustees review the main operational risks and take actions to manage or mitigate these risks accordingly.

Review of transactions and financial position

During the year tithe, offering, donations and gifts received was £14,605. These have been made available without restriction as to its usage.

The balance on the Charity’s Funds are Unrestricted. These will be used to fund the Charity’s objectives during the new financial year. The Trustees confirm that the Charity’s assets are available and adequate to enable it to fulfil its obligations.

Reserve Policy

Freely available reserves are a pool of unapplied resources available to meet future demands on the charity’s resources. This is “general purpose money that can be spent on any of the purposes of the charity. Free reserves of the charity are represented by its unrestricted funds less the net book value of its assets, as at 31 May 2023, these amounted to £42,193

Reserves are required to ensure the charity can meet its general business commitments.

Statement of Trustee Responsibilities

The Trustees are required to prepare financial statements that give a true and fair view of the state of affairs of the organization and of the income and expenditure of the project for that period. In preparing these financial statements, the Trustees are required to:

2

to presume that the project will continue in operation.

The Trustees are responsible for keeping proper records that disclose at any time the financial position of the project. They are also responsible for safe guarding the assets of the organization and hence for taking reasonable steps for the prevention and detention of fraud and other irregularities.

AYOMIDE SADARE EKO-DAVIDS

Board of Trustees Date

3

JERUSALEM CHURCH OF THE LORD INTERNATIONAL ''ILE- EWE''

INDEPENDENT EXEMINERS' REPORT TO THE

TRUSTEES OF JERUSALEM CHURCH OF THE LORD INTERNATIONAL ILE EWE ON THE ACCOUNTS FOR THE YEAR ENDED 31 May 2023

We report on the accounts for the year ended 31 May 2023, which are set out on pages 7 to 9.

Respective responsibilities of trustees and examiner

The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider (under section 43(2)of the Charities Act 1993 that an audit is not required for this year and that an independent examination is needed.

It is my responsibility to:

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 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 I do not express an audit opinion on the view given by the accounts.

Independent examiner’s statement

In connection with my examination, no matter has come to my attention:

DELANI AWE & CO Chartered Certified Accountants

14 BRIGHT ROAD CHATHAM

4

JERUSALEM CHURCH OF THE LORD INTERNATIONAL ''ILE- EWE''

Statement of Financial Activities for the year ended 31 May 2023

Income Resources
Tithes, offerings and thanksgiving
Total Income Resources
Resources Expended
Support costs of activities in
furtherance of the charity's objects
Management & Administration
of Charity
Total Income Expended
Net incoming/(outgoing) resources
Net Movements in Funds
Fund balances b/fwd
Funds balances c/fwd		 Notes Unrestricted
£
19,238
19,238
3,615
4,329
7,944
11,294
11,294
30,899
42,193		 Restricted
£
0
-
-
-
-
-
-		 2023
2022
Total
Total
Fund
Fund
£
£
19,238
9,385
6.1
6.2
6.3
19,238
9,385
3,615
9,204
4,329
4,199
7,944
13,403
11,294
(4,018)
11,294
(4,018)
30,899
34,917
42,193
30,899

5

JERUSALEM CHURCH OF THE LORD INTERNATIONAL ''ILE- EWE''

Balance Sheet as at 31 May 2023

Notes
Fixed assets
Tangible assets
3
Current assets
Cash at bank and in hand
39,327
Creditors: amounts falling due
within one year
4
250
Net current assets
Net assets
Unrestricted Funds
Unrestricted Funds
5
Restricted and Unrestricted Funds c/fwd.		 39,327
250		 2023
2022
£
£
3,116
3,620
27,479
200
39,077
27,279
42,193
30,899
42,193
30,899
42,193
30,899

The Report and Accounts were approved by the Trustees on ………………..

IBIYEMI OLUKEMI SADARE TRUSTEE

AYOMIDE SADARE EKO-DAVIDS

6

JERUSALEM CHURCH OF THE LORD INTERNATIONAL ''ILE- EWE''

Notes to the Accounts for the year ended 31 May 2023

1 Accounting policies

Basis of preparation

The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Incoming Resources

Income is mainly from grants and bank interest received are included in the financial statements when received.

Resources Expended

All expenditure is accounted for on an accrual basis and has been classified under headings that aggregate all costs related to the category.

Taxation

As a charity, the charitable funds are exempt from corporation tax but not from VAT. Irrecoverable VAT is, in accordance with standard accounting practice, included in the cost of those items to which it relates.

Depreciation

Depreciation has been provided at the following rates in order to write off the assets on the redusing balance of each asset.

Land & building
2%
Plant and machinery
10%
Furniture & fittings
10%
Musical equipment
20%
2
Net funds for the year
This is stated after charging:
Depreciation of owned fixed assets		 £
£
1,008
504
3
Tangible fixed assets
Cost
At 1 June 2022
Additions
At 31 May 2023
Depreciation
At 1 June 2022
Charge for the year
At 31 May 2023
Net book value
At 31 May 2023
At 31 May 2020		 Computers
& Musical
Equipment
£
5,269
-
5,269
2,041
354
2,395
2,874
3,228		 Furniture &
fittings
Total
£
1,352
6,621
-
-
1,352
6,621
960
3,001
150
504
1,110
3,505
242
3,116
392
3,620

7

JERUSALEM CHURCH OF THE LORD INTERNATIONAL ''ILE- EWE''

Notes to the Accounts for the year ended 31 May 2023

4
Creditors: amounts falling due within one year
Trade creditors
5
Funds
Unrestricted
£
Balance as at 01 February 2018
30,899
Net Movements in Funds
11,294
At 31 May 2023
42,193		 Restricted
£
-		 £
£
250
200
2023
2022
£
£
30,899
34,917
11,294
(4,018)
42,193
30,899

8

JERUSALEM CHURCH OF THE LORD INTERNATIONAL ''ILE- EWE'' Notes to the accounts (continued)

6 Detailed Income and Expenditure Account For the year ended 31 May 2023

For the year ended 31 May 2023
2023 2022
UnrestrictedRestrictedTotal fund Total fund
£ £ £ £
6.1 INCOMING RESOURCES
Tithes, offering and thanksgiving 19,238 19,238 9,385
Total Incoming Resources 19,238 - 19,238 9,385
OUTGOING RESOURCES
6.2 Support costs of activities in furtherance of
the Charity's objects:
Charity & Donations - - 50
Evangelical Outreach 382 382 540
Members welfare 1,890 1,890 6,285
Havest, events - -
Children,youths - - 2,329
Missionary 573 573
3,615 - 3,615 9,204
6.3 Management and Administration of Charity:
Rent of Church hall 3,575 3,575 3,445
Travelling and subsistence 0 0 0
Accountancy fees 250 250 250
Admin/office expenses - 0 -
Depreciation charge 504 504 504
4,329 - 4,329 4,199

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