**PIERRE DE VIE CHURCH** (Charitable Incorporated Organisation) # **ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024** ## PIERRE DE VIE CHURCH (Charitable Incorporated Organisation) ## **Charity Registration No: 1189999** ## Pierre de Vie Church International House 776-778 Barking Road London 1 **PIERRE DE VIE CHURCH** (Charitable Incorporated Organisation) E13 9PJ Contents Page 3 - Trustees' Report Page 7 - Statement of Financial Activities Page 8 - Balance Sheet Pages 10 to 11 - Notes to the Financial Statements 2 **PIERRE DE VIE CHURCH** (Charitable Incorporated Organisation) ## **TRUSTEES' REPORT** ## **FOR THE YEAR ENDED 31ST MARCH 2024** ## **LEGAL AND ADMINISTRATIVE INFORMATION** ## **CHARITY NUMBER:** **DATE OF REGISTRATION:** ## **START OF FINANCIAL YEAR:** 1189999 18th June 2020 1st April 2024 **END OF FINANCIAL YEAR: TRUSTEES AT 31ST MARCH 2024:** (Chair) Mpemba Mwaka 31st March 2025 Koloto Bokunga Emmanuel Diboto Anne Diboto Jackie ## **LEGAL STATUS** Charitable Incorporated Organisation ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** Pierre de Vie Church is a Charitable Incorporated Organisation (CIO) registered with the Charity Commission on 18th June 2020. It is governed by a CIO Foundation Model Constitution. The Trustees are appointed in accordance with the Constitution. New Trustees are identified through the church membership and appointed by resolution of the existing Trustees. An induction and training program is in place for new Trustees. 3 **PIERRE DE VIE CHURCH** (Charitable Incorporated Organisation) ## **OBJECTIVES AND ACTIVITIES** The objects of the CIO are to advance the Christian faith in Barking and Dagenham and throughout the UK for the public benefit, mainly but not exclusively by providing a place of worship, religious education, pastoral care and outreach. In shaping objectives for the year and planning activities, the Trustees have considered the Charity Commission's guidance on public benefit. The Trustees believe that the charity's activities, summarized below, provide benefit to the public in line with its charitable objects: - Weekly worship services open to all. - Christian education programs for children, youth, and adults - Pastoral care provided by clergy and trained volunteers. - Community outreach events and initiatives - Partnerships with local charities serving those in need. - Online services and resources made freely available. The Trustees are pleased to report that Pierre de Vie Church continued its activities throughout 2023/24 despite ongoing challenges. Key developments included: - Returning to full in-person services while maintaining an online presence - Completing building renovations to improve accessibility. - Launching new outreach programs focused on youth and senior citizens. - Partnering with local foodbanks and homeless shelters - Growing the congregation to over 200 regular attendees **PRINCIPAL OFFICE:** International House 776-778 Barking Road 4 **PIERRE DE VIE CHURCH** (Charitable Incorporated Organisation) London E13 9PJ ## **PRIMARY BANKERS:** Barclays Bank Plc 1 Churchill Place London E14 5HP ## **STATEMENT OF TRUSTEES' RESPONSIBILITIES** The Trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and regulations. The law applicable to charities in England and Wales 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 the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the Trustees are required to: - Select suitable accounting policies and apply them consistently. - Observe the methods and principles in the Charities SORP. - Make judgments and estimates that are reasonable and prudent. - State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and - 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 adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) 5 ## **PIERRE DE VIE CHURCH** (Charitable Incorporated Organisation) Regulations 2008 and the provisions of the charity's constitution. 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. The Trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. Approved by the Trustees on 10 May 2024 and signed on their behalf by: Rev Emmanuel Diboto - Chair of Trustees 6 (Charitable Incorporated Organisation) ## **PIERRE DE VIE CHURCH** # **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024** ||**2024**|**2023**| |---|---|---| |**Incoming Resources**|**£6,643**|**£5,071**| |Resources Expended|£4,800|£4,940| |Net Surplus/(Defcit)|£1,843|£131| |Total Funds Carried
Forward:||| |Unrestricted Funds|£2,034|(£359)| |Restricted Funds|-|-| |**Total Funds**|**£2,034**|**(£359)**| ## Notable points: - The influx of resources rose by 31% to £6,643 (compared to £5,071 in 2023). - The amount of resources used reduced somewhat to £4,800 (compared to £4,940 in 2023). - A net surplus of £1,843 was achieved, which is much more than the £131 achieved in 2023. - The unrestricted funds increased from a deficit of £359 to a surplus of £2,034. - Reserves have grown, although they are still below the desired goal level. 7 **PIERRE DE VIE CHURCH** (Charitable Incorporated Organisation) Policy on Reserves: - The objective of the trustees is to maintain a minimum level of free reserves equivalent to three months' worth of operational expenditures. - The current reserves amount to £2,034, which represents 41% of the desired amount of £5,000. - Boosting reserves continues to be a crucial financial objective. ## **BALANCE SHEET** ## **AS AT 31 MARCH 2024** ||2024|2023| |---|---|---| |**Fixed Assets**|-|-| |Tangible Assets|-|-| |Investments|-|-| |**Total Fixed Assets**|-|-| |Current Assets||| |Debtors & Prepayments|-|-| |Cash at Bank and in Hand|2,034|191| |**Total Current Assets**|**2,034**|**191**| |Liabilities||| |Creditors: Amounts Falling Due Within One
Year|**-**|(550)| |Net Current Assets/(Liabilities)|2,034|(359)| |**Total Assets**Less Current Liabilities|**2,034**|**(359)**| |Creditors: Amounts Falling Due After More
Than One Year|**-**|**-**| 8 **PIERRE DE VIE CHURCH** (Charitable Incorporated Organisation) |**Total Net Assets/(Liabilities)**|**2,034**|**(359)**| |---|---|---| |**The Funds of the Charity:**||| |Unrestricted Funds|2,034|(359)| |Restricted Funds|-|-| |**Total Charity Funds**|**2,034**|**(359)**| The Balance Sheet shows a significant improvement in the financial position of Pierre de Vie Church as at 31 March 2024: - The church continues to have no fixed assets or long-term investments. - Current assets consist entirely of cash at bank and in hand, which has increased over tenfold from £191 in 2023 to £2,034 in 2024. - Current liabilities, which previously consisted of the £550 accrual for the independent examiner's fees, are now zero. - As a result, net current assets have increased from a deficit of £359 in 2023 to a surplus of £2,034 in 2024. - With no long-term liabilities, the total net assets of the church are equal to the net current assets at £2,034, a significant improvement from the net liabilities of £359 reported in 2023. - The church's funds consist entirely of unrestricted funds, which have increased from a deficit of £359 in 2023 to a surplus of £2,034 in 2024. The Balance Sheet reflects the church's much-improved financial performance and position, with a strong increase in cash reserves and the elimination of the previous deficit in unrestricted funds. While reserves remain below the Trustees' target level of £5,000, the church has made significant progress in increasing its financial resilience. Maintaining a focus on further growing reserves will be a key priority in order to support the church's ongoing mission and ministries. 9 **PIERRE DE VIE CHURCH** (Charitable Incorporated Organisation) ## Approved by the Trustees on **18 May 2024** Signed on their behalf by Trustee: Print Name: Emmanuel Diboto ## **Notes to the Financial Statements** ## **For the Year Ended 31 March 2024** 1. Accounting Policies a. Basis of preparation The financial statements have been prepared in accordance with the Church Accounting Regulations 2006, the Charities Act 2011, the Statement of Recommended Practice (SORP) FRS 102 "Accounting and Reporting by Charities" and applicable UK accounting standards. The financial statements have been prepared under the historical cost convention. b. Fund accounting Unrestricted funds are available for use at the discretion of the Trustees in furtherance of the general objectives of the church. Restricted funds are subject to specific conditions by donors as to how they may be used. c. Income recognition All income is recognised once the church has entitlement to the income, it is probable that the income will be received, and the amount can be measured reliably. Voluntary income is received by way of donations and gifts and is included in full in the Statement of Financial Activities when receivable. d. Expenditure recognition Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the church to that expenditure, it is probable that settlement will be required, and the 10 **PIERRE DE VIE CHURCH** (Charitable Incorporated Organisation) amount of the obligation can be measured reliably. e. Fixed assets The church had no fixed assets during the year. 2. Taxation The church is exempt from tax on income and gains under section 505 of the Taxes Act 1988. 3. Trustees' Remuneration and Expenses The Trustees did not receive any remuneration or reimbursement of expenses during the year. 4. Staff Costs and Numbers The church did not employ any staff during the year. 5. Debtors The church had no debtors at 31 March 2024. 6. Creditors: Amounts Falling Due Within One Year ||**2024**|**2023**| |---|---|---| |Independent Examiner's Fees|-|550| |Total|-|550| 7. Creditors: Amounts Falling Due After More Than One Year The church had no long-term liabilities at 31 March 2024. 8. Analysis of Net Assets Between Funds ||**Unrestricted**
**Funds**|**Restricted**
**Funds**|**Total Funds**| |---|---|---|---| |Current Assets|2,034|-|2,034| |Current Liabilities|-|-|-| |Net Assets at 31
March 2024|2,034|-|2,034| ## 9. Movement in Funds ||**Balance on**
**1 Apr 2023**|**Incoming**
**Resource**
**s**|**Resource**
**s**
**Expended**|**Transfer**
**s**|**Balance**
**on 31 Mar**
**2024**| |---|---|---|---|---|---| |Unrestricte
dFunds|(359)|6,643|(4,800)|550|2,034| |Restricted
Funds|-|-|-|-|-| |Total Funds|(359)|6,643|(4,800)|550|2,034| 10. Related Party Transactions There were no related party transactions during the year. 11 ## **PIERRE DE VIE CHURCH** (Charitable Incorporated Organisation) These notes provide additional details and explanations to support the primary financial statements. They cover the key accounting policies, provide breakdowns of certain figures, and include other required disclosures. 12