CELESTIAL CHURCH OF CHRIST EVERLASTING GLORY OF GOD PARISH
Registered Charity Number: 1183911
TRUSTEES' REPORT AND ACCOUNTS FOR THE YEAR ENDED 31ST JULY 2023
ASAMAI CONSULTING LIMITED ACCOUNTANTS, TAX & BUSINESS ADVISORS 12 BRITON STREET LEICESTER LE3 0AA
Tel: 01163195972 Fax: 01162252154 Fax: 07723363184
CELESTIAL CHURCH OF CHRIST EVERLASTING GLORY OF GOD PARISH
CONTENT
| Page | |
|---|---|
| Trustees and Advisers | 1 |
| Trustees' Report | 2 &3 |
| Independent Examiner`s Report to the Trustees | 4 |
| Statement of Financial Activities | 5 |
| Balance sheet | 6 |
| Notes forming part of the Financial Statement | 7 to 13 |
CELESTIAL CHURCH OF CHRIST EVERLASTING GLORY OF GOD PARISH
LEGAL AND ADMINISTATIVE INFORMATION
| Trustees: | Carl White Evangelist Festus Akintunde |
|---|---|
| Karina ScoEvangelist Abolaji Omotosho | |
| Notoya CoMs Adebola Awodola | |
| Registered Office: | African Caribbean Centre |
| Maidstone Road | |
| Leicester | |
| LE2 0UA | |
| Charity No. | 118391 |
| Bankers: | Lloyds Bank |
| Accountants | ASAMAI CONSULTING LIMITED |
| ACCOUNTANTS, TAX & BUSINESS ADVISORS | |
| 12 BRITON STREET | |
| LEICESTER | |
| LE3 0AA |
1
CELESTIAL CHURCH OF CHRIST EVERLASTING GLORY OF GOD PARISH TRUSTEES REPORT
The Trustees have pleasure in submitting their report and accounts for the year ended 31st July 2023. The financial statements have been prepared in accordance with the accounting policies set out on pages 7 to 8 and comply with the statement of Recommended Practice (SORP March 2005), and the applicable law.
Structure, Governance and Management
Constitution
The Charity is constituted under a Trust Deed dated 11 December 2018 and Charity is number 1181113, on the central register of the Charity Commission of England and Wales.
The principal objectives of the Charity is to reach the disadvantaged young women and empowered their lives through robust sustainable long-term support/engagement.
Method of Appointment or Election of Trustees
The management of the charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust Deed.
Organisational Structure and Decision Making
The Charity is organised so that the trustees meet regularly to manage its affairs.
Related Party Relationships
There are no related party relationships during the period under review
Development activities and achievements in the year
See the trustee's report attached
Risk Policy
The Trustees have assessed the major risks to which the Charity is exposed, particularly those relating to the operations and finance and are satisfied with the risk management systems in place to mitigate any risk exposure.
Future Developments
See the trustee's report attached
Review of financial Position
The net incoming resources for the year amounted to £832(Year 2022 was £718). All these have been unrestricted reserves and no fund is allotted to restricted projects.
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CELESTIAL CHURCH OF CHRIST EVERLASTING GLORY OF GOD PARISH TRUSTEES REPORT CONTINUED
Reserve Policy
The trustees have established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets [the free reserves] held by the charity should be 3 months of annual expenditure. At this level, the trustees feel that they would be able to continue the current activities of the charity in the event of significant drop in funding.
Principal Funding
This is provided mainly by the members of the Church the Metropolitan Housing.
Statement of Trustees’ Responsibilities
The Charities Act requires the Trustees to prepare financial statements for each financial year, which give a true and fair view of the surplus or deficit of the charity for that period. of the state of affairs of the charity and In preparing those financial statements, the trustees are requested to:
-
I Select suitable accounting policies and then apply them consistently; ii Make judgements and estimates that are reasonable and prudent; iii State whether applicable accounting standards and statements of recommended practice have been followed, subject to any departures disclosed and explained in the financial statements;
-
iv Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
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 [as amended by Act 2006]. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Trustees and other information
The members of the Board of Trustees who served during the year were:
Evangelist Festus Akintunde Evangelist Abolaji Omotosho Ms Adebola Awodola
This report was approved by the Board of Trustees on the 10 May 2024 and signed on its behalf by: Evangelist Festus Akintunde (Chair)
Secretary to the Board Of Trustees
3
INDEPENDENT EXAMINER`S REPORT TO THE TRUSTEES OF CELESTIAL CHURCH OF CHRIST EVERLASTING GLORY OF GOD PARISH
We report on the financial statements of the charity for the year ended 31st July, 2023 which are set out below and notes to the financial statements on pages 7 to 13
Respective Responsibilities of Trustees and Examiners
As the charity`s Trustees, you are responsible for the preparation of the accounts; It is our responsibility to state on the basis of procedures specified in the general directions given by the charity commissioners under section 43 (7) of the act, whether particular matters have come to our attention.
Basis of Independent Examiner`s Report
Our examination was carried out in accordance with the general directions given by the charity commissioners. An examination includes review of accounting records kept by the Trustees and a comparism of accounts presented with those records.
It also includes consideration of any unusual items or disclosures in the accounts and seeking explainations from you as the Trustees concerning any such matters.
The procedures undertaken do not provide all the evidence that would be required in an audit and consequently we do not express an audit opinion on the view given by the accounts.
Independent Examiner`s Statements
In connection with the examination, no matter has come to our attention:-
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1) Which give us resonable cause to believe that in any material respect the requirements (I) to keep accounting records in accordance with section 41of the Act and
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(ii) to prepare accounts which accordwith the accounting records and to comply with the accounting requirements of the Act have not been met or
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2) to which, in our opinion, attention should be drawn in order to enable a proper understanding of the accountto be reached
Mr. Christopher Jarjou, MSc MBA FCCA CPFA FFTA FFA CHIEF EXECUTIVE OFFICER ASAMAI CONSULTING LTD ACCOUNTANTS, TAX & BUSINESS ADVISORS
Dated : 10th May 2024
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CELESTIAL CHURCH OF CHRIST EVERLASTING GLORY OF GOD PARISH STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31St JULY, 2023
| NOTES INCOMING RESOURCES Incoming resources from generated funds: Voluntary income 2 Investment income 3 Total Incoming Resources RESOURCES EXPENDED Charitable activities 8 Governance Costs 4 Total Resources Expended 7 Net Movement in funds Total Funds Brought Forward Total Funds Carried Forward |
UNRESTRCTED FUND RESTRICTED FUND TOTAL FUND TOTAL FUND 2023 2022 £ £ £ £ 11,798 - 11,798 2,645 - - - - |
|---|---|
| 11,798 - 11,798 2,645 |
|
| - 10,666 - 10,666 1,727 300 - 300 200 |
|
| 10,966 - 10,966 1,927 |
|
| 832 - 832 718 7,280 - 7,280 - |
|
| 8112 - 8112 718 |
There were no recognised gains or loses for the period other than those included in the statement of Financial activities
The notes on pages 7 to 13 form part of these accounts.
5
CELESTIAL CHURCH OF CHRIST EVERLASTING GLORY OF GOD PARISH BALANCE SHEET AS AT 31 JULY, 2023
| NOTES 2023 £ £ FIXED ASSETS Tangible Fixed Assets 10 3750 3,750 CURRENT ASSETS Cash at Bank and in Hand 4,662 Debtor 9 - 4,662 LESS CREDITORS Amounts falling within one year 11 300 - NET CURRENT ASSETS 4,362 LESS CREDITORS Less Amounts falling due after more than one ye 12 - TOTAL ASSETS 8,112 CHARITY FUNDS Restricted Funds 13 - Unrestricted Funds 13 8,112 8,112 Aproval by the Board of Trustees on the 28th May 2023 and signed on its behalf by: |
2022 £ - 7,280 - |
|---|---|
| 7,280 200 7,080 - |
|
| 7,080 | |
| - 7,080 |
|
| 7,080 | |
Festus Akintunde______
EVANGELIST FESTUS AKINTUNDE (Board of Trustees) The notes on pages 7 to 13 form part of these accounts.
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CELESTIAL CHURCH OF CHRIST EVERLASTING GLORY OF GOD PARISH NOTE TO THE ACCOUNTS FOR THE YEAR ENDED 31ST JULY, 2023
-
1 Accounting Policies
-
1.1 Basis of preparation of accounts
The accounts are prepared under the historical cost convention, with the exception of investment which are included at market value and include the results of the Charity operations which are described in the Trustees' Report and all of which are continuing.
The accounts have been prepared in accordance with the Statement of Recommended Practice (SORP March 2005) For Charity Accounts and the Charities Act 1993 [as amended by Act 2006] The Charity has taken advantage of the exemption in Financial Reporting Standard No. 1 from the requirement to produce a cashflow statement on the grounds that it qualifies as small charity.
- 1.2 Tangible Fixed Assets for use by the Charity and Depreciation
All fixed assets costing £250 or more are capitalised at cost. Tangible fixed assets for use by the Charity are stated at cost less depreciation.
Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
| Freehold Property | Nil | |
|---|---|---|
| Motor Vehicle | 25% | Reducing Balance |
| Fixtures & Fittings | 25% | Reducing Balance |
| Church Equipment | 25% | Reducing Balance |
| Computer Equipment | 20% | Reducing Balance |
1.3 Incoming Resources
The funders are the members of the church through the collections of offerings during Church services
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CELESTIAL CHURCH OF CHRIST EVERLASTING GLORY OF GOD PARISH NOTE TO THE ACCOUNTS FOR THE YEAR ENDED 31ST JULY, 2023
1.4 Value Added Tax (VAT)
Value Added Tax is not recoverable by the Charity, and as such is included in the relevant cost in the Statement of Financial Activities.
1.5 Resources Expended
Resources expended are included in the Statement of Financial Activities on accruals basis. Certain costs have been apportioned between Direct Charitable Expenditure and Management and Administration on bases consistent with the use of those resources.
Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grant being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to condtions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.
1.6 Funds Accounting
Funds held by the Charity are:
Unrestricted General Fund - General Funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Restricted Funds - which were raised for particular restricted purposes and can only be used for those particular restricted purposes within the objects of the Charity.The cost of raising and administering such funds are charged against the specific fund.
Investment income, gains and losses are allocated to the approprate fund.
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CELESTIAL CHURCH OF CHRIST EVERLASTING GLORY OF GOD PARISH NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31ST JULY 2023
| 2. VOLUNTARY INCOME Members' Collections Total Voluntary Income 3. INVESTMENT INCOME Rental Income Bank Interest Receivable Total Investment Income |
Restricted Unrestricted Funds Fund 2023 2023 £ £ - 11,798 - - - - - - - |
Restricted Unrestricted Funds Fund 2023 2023 £ £ - 11,798 - - - - - - - |
Restricted Unrestricted Funds Fund 2023 2023 £ £ - 11,798 - - - - - - - |
Total Total Fund Fund 2023 2022 £ £ 11,798 560 - - - - - - - - |
|---|---|---|---|---|
| - | 11,798 | 11,798 560 |
||
| Restricted Unrestricted Funds Fund 2023 2023 £ £ - - - - |
Total Total Fund Fund 2023 2022 £ £ - - - - |
|||
| - | - | - - |
9
CELESTIAL CHURCH OF CHRIST EVERLASTING GLORY OF GOD PARISH NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31ST JULY 2023
| 4. GOVERNANCE COSTS Accountancy & Independent Examiners Legal and Professional Fees 5. DIRECT COSTS Wages & Salaries Pension P A Y E & NIC 6. SUPPORT COSTS Water Rate Rent Subscfiptions Printing, Postage and Stationary Telephone & Internet Insurance/Licences Sundry Expense Travel Expenses Electricity, Gas Consultancy Staff Welfare Training & Development Repairs & Renewals General Welfare |
Restricted Funds 2023 £ - - |
Restricted Funds 2023 £ - - |
Unrestricted Fund 2023 £ 200 - |
Unrestricted Fund 2023 £ 200 - |
Total Total Fund Fund 2023 2022 £ £ 200 180 - - |
|---|---|---|---|---|---|
| - | 200 | 200 180 |
|||
| Basis of Allocation Actual Actual Actual Basis of Allocation Actual Actual Actual Actual Actual Actual Actual Actual Actual Actual Actual Actual Actual Actual |
£ - - - |
Total Total 2023 2022 £ £ - - - - - - |
|||
| - | - - |
||||
| £ 1,966 - 70 - 267 50 150 200 - - - 2,013 - |
Total Total 2023 2022 £ £ - 1,966 372 - - 70 - - - 267 206 50 - 150 - - 200 - - - - - - - 2,013 100 - |
4,716 4,716 678
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CELESTIAL CHURCH OF CHRIST EVERLASTING GLORY OF GOD PARISH NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31ST JULY 2023
7. ANALYSIS OF RESOURCES EXPENDED BY EXPENDITURE TYPE
| Direct & Support Cost Governance |
Depreciation Other Costs Total Total 2023 2023 2023 2022 £ £ £ £ - 10,966 10,966 1,727 - 300 300 200 |
|---|---|
| - 11,266 11,266 1,927 |
8. ANALYSIS OF RESOURCES EXPENDED BY ACTIVITIES
| Direct & Support Cost | Activities Undertaken Support Directly Cost Total Total [Note-5] [Note-6] 2023 2023 2023 2022 £ £ £ £ - 10,966 10,966 1,727 |
|---|---|
| - 10,966 10,966 1,727 |
The average number of staff employed by the Charity during the year was NIL (2022- NIL)
No Trustee has received remuneration in the year. No expenses have been reimbursed to any of the Trustees. No Employees whose emoluments exceeded £50,000. No Trustee received any benefit in kind
| 9. DEBTORS Due Within One Year Other Debtors Prepayments Accrued Income Due after more than one year Accrued Income Loan |
2023 2022 £ £ - - - - - - |
|---|---|
| - - - - - - |
|
| - - |
11
CELESTIAL CHURCH OF CHRIST EVERLASTING GLORY OF GOD PARISH (CONTINUED) FOR THE YEAR ENDED 31ST JULY 2023
| 10.TANGIBLE FIXED ASSETS Freehold & Property Motor Vehicle Equipmen F & Fittings Computer Equipment £ £ £ £ Cost At 1st August 2022 - - - - Additions - 5,000 - - Disposals - - - - At 31st July 2023 - 5,000 - - DEPRECIATION At 1st August, 2022 - - - - Charge for the year - 1,250.00 - - Disposal - - - - At 31st July 2023 - 1,250 - - NET BOOK VALUE AT 31ST JULY 2023 - 3,750 - - NET BOOK VALUE AT 31ST JULY 2022 - - - - The net book value of assets held under finance leases or hire purchase contracts, included above are as follows 2023 2022 £ £ Motor Vehicle - - - - 11. CREDITORS 2023 2022 £ £ Amount falling due within one year Accrued Expenses 300 200 Bank Overdrafts - - - - - - - - - - 300 200 12 |
Freehold & Property £ - - - |
Freehold & Property £ - - - |
Motor Vehicle £ - 5,000 - |
Equipmen F & Fittings £ - - - |
Equipmen F & Fittings £ - - - |
Computer Equipment £ - - - |
TOTAL £ - 5,000 - |
|
|---|---|---|---|---|---|---|---|---|
| - | 5,000 | - | - | 5,000 | ||||
| - - - |
- 1,250.00 - |
- - - |
- - - |
- 1,250.00 - |
||||
| - | 1,250 | - | - | 1,250 | ||||
| - | 3,750 | - | - | 3,750 | ||||
| - | - | - | - | - | ||||
CELESTIAL CHURCH OF CHRIST EVERLASTING GLORY OF GOD PARISH (CONTINUED) FOR THE YEAR ENDED 31ST JULY 2023
| 12. CREDITORS Amount falling after more than one year Acrued Expenses Other Creditors Creditors include amounts not wholly repayable within 5 years as follows: Repayable by instalments 13. STATEMENT OF FUNDS Unrestricted Funds General Funds- all funds Restricted Funds Building Fund Total of Funds SUMMARY OF FUNDS General Funds Restricted Funds 14. ANALYSIS OF NET ASSETS BETWEEN- FUNDS Tangible Fixed Assets Debtors Due after more than 1 Year Current Assets Creditors Due within one year Creditors Due in more than one year 15. RELATED PARTY TRANSACTIONS |
2023 2022 £ £ - - - - - - - 2023 2022 £ £ - - - - Brought Incoming Resources Carried Forward Resources Expended Forward £ £ £ £ 7,280 11798 9754 9324 - - - - - - - - |
|---|---|
| 7,280 11798 9754 9324 |
|
| Brought Incoming Resources Carried Forward Resources Expended Forward £ £ £ £ 7280 11798 -10966 8112 - - - - - - - - |
|
| 7280 11798 -10966 8112 |
|
| Restricted Unrestricted Total Total Funds Funds Funds Funds 2023 2023 2023 2022 £ £ £ £ - 3,750 3,750 - - - - - - 4,662 4,662 7,280 - 300 300 200 - - - - |
|
| - 8112 8112 7080 |
|
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