## **CELESTIAL CHURCH OF CHRIST Majemuoluwase Parish ACCOUNTS 31ST MAY 2021**
**EMMANUEL STEPHENS & CO. CHARTERED ACCOUNTANTS, BUSINESS ADVISERS & CONSULTANTS 62 BEECHWOOD ROAD, LONDON E8 3DY**
**CELESTIAL CHURCH OF CHRIST MAJEMUOLUWASE PARISH Report and Accounts for the period ended 31st May 2021**
## **CELESTIAL CHURCH OF CHRIST MAJEMUOLUWASE PARISH**
## **Reports and Accounts**
|**CONTENTS**||
|---|---|
|Charity Information|1|
|Trustees annual report|2|
|Accountant's Report|3|
|Statement of Financial Activities|4|
|Balance Sheet|5|
|Notes to Accounts|6-8|
## **CELESTIAL CHURCH OF CHRIST MAJEMUOLUWASE PARISH**
## **Charity Information**
## **Trustees**
Temidayo Egundebi Eric Funso Akinyeye Omolola Abosede Samuel Hungbo
## **Principal Location**
Chardwell Business Park 61-65 Paulet Road, Block H , Unit 4 Camberwell New Road, Camberwell London SE5 9HW
## **Accountants**
Emmanuel Stephens & Co 62 Beechwood Road London E8 3DY
Page 1
## **CELESTIAL CHURCH OF CHRIST MAJEMUOLUWASE PARISH**
## **TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31ST MAY 2021**
The trustees have the pleasure of submitting their report and the financial statements for the year ended 31 May 2021
## **Review of Financial Position**
Please refer to the annexed accounts for the details of the financial statements for the year ended 31 May 2021.
## **Reserves Policy**
The trustees would like to work towards a situation whereby the charity could maintain unrestricted funds at a level which equates to approximately three months of unrestricted expenditure.
## **Trustees' Responsibilities in Relation to the Financial Statements**
The Charities Act 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 surplus or deficit of the charity for that period. In preparing these financial statements, the trustees are required to:
- a) Select suitable accounting policies and apply them consistently;
- b) Make judgements and estimates that are reasonable and prudent;
- c) State whether applicable accounting standards and statements of recommended practice have been followed, subject to any departures disclosed and explained in the financial statements.
- d) 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. They are also responsible for safeguarding the assets of the charity and hence for taking any reasonable steps for the prevention and detection of fraud and other irregularities.
## **Approval**
This report was approved by the Board of Trustees and signed on their behalf by:
Signature:
Name:
Date:
Page 2
## **CELESTIAL CHURCH OF CHRIST MAJEMUOLUWASE PARISH**
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CELESTIAL CHURCH OF CHRIST MAJEMUOLUWASE PARISH**
I report on the accounts of the Trust for the period ended 31 May 2021, which are set out on pages 4 to 8.
## **RESPECTIVE RESPONSIBILITIES OF THE TRUSTEES AND EXAMINER**
As the Charity's Trustees, you are responsible for the preparation of the Account: you consider that the audit requirement of section 43(2) of the Charities Act 1993 ("the Act") does not apply. It is my 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 my attention.
## **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:
1. Which gives me reasonable cause to believe that any material respect the requirements:
- to keep accounting records in accordance with section 41 of the Act, and
- to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the Act.
- Have not been met: or
2. To which, in my opinion, attention be drawn to enable a proper understanding of the accounts to be reached.
## **Emmanuel Stephens & Co.**
Chartered Accountants, Business Advisers & Consultants 62 Beechwood Road London E8 3DY
Page 3
## **CELESTIAL CHURCH OF CHRIST MAJEMUOLUWASE PARISH**
## **Statement of Financial Activities for the period ended 31 May 2021**
|Notes
**Incoming Resources**
_Incoming resources from generated funds:_
Voluntary income:donations
1a
Building
**_Total Incoming Resources_**
**Resources Expended**
_Charitable activities:_
Gifts and donations and other charitable 2
purposes
_Governance costs:_
Management & Administration
3
**_Total Resources expended_**
**Net Incoming/(Outgoing) Resources for the year**
**_Net Movement in Funds_**
4
**Balance at 1 June**
**Balance at 31 December**
6|**2021**
**2020**
Unrestricted
Restricted
Total
Total
£
£
£
£
21,255
21,255
24,406
-
-
-
-
2,482
2,482|
|---|---|
||**23,737**
**-**
**23,737**
**24,406**|
||1,260
-
1,260
4,333
19,754
19,754
17,876|
||**21,014**
**0**
**21,014**
**22,209**|
||2,723
0
2,723
2,197|
||2,723
0
2,723
2,197
2,197
-
2,197
0|
||**4,920**
**-**
**4,920**
**2,197**|
All disclosures relate to the continuing operations. There are no recognised gains or losses other than those disclosed above.
Page 4
## **CELESTIAL CHURCH OF CHRIST MAJEMUOLUWASE PARISH**
## **Balance sheet as at 31 May 2020**
|Notes
**FIXED ASSETS**
Tangible Fixed Assets
7
**CURRENT ASSETS**
Debtors
8
Cash in Hand/ Bank
**CURRENT LIABILITIES**
9
**NET CURRENT ASSETS**
**NET ASSETS**
**TOTAL FUNDS**
6
Amount falling due within a year|**2021**
**2020**
£
4,913
5,184|
|---|---|
||**4,913**
**5,184**
-
1,500
3,452
546|
||3,452
2,046
(3,445)
(5,033)
7
(2,987)|
||**4,920**
**2,197**|
||**4,920**
**2,197**|
||**4,920**
**2,197**|
Approved by the Trustees and Signed on their behalf:
Signature:
Name: Date:
Page 5
## **CELESTIAL CHURCH OF CHRIST MAJEMUOLUWASE PARISH**
## Notes to the financial statements for the period ended 31 May 2021
## **ACCOUNTING POLICIES**
The accounts have been prepared under the historical cost convention and in accordance with the Statement of Recommended Practice - Accounting and Reporting by Charities (SORP 2005) issued in December 2005 and applicable accounting policies in the preparation of the financial statements are as follows.
## **1. INCOMING RESOURCES**
These are recognised in full in the Statement of Financial Activities in the period in which they are received. Included are income from tithes, offerings and interest received during the year from investments and accounted for as unrestricted-funds.
- **1a. Voluntary Income: Donations**
|**ry Income: Donations**||
|---|---|
|Tithes & Offerings
Building Fund|**2021**
**2020**
21,255
19,926
2,482
4,480|
||23,737
24,406|
## **2. DIRECT CHARITABLE EXPENDITURE**
This comprises all expenditure directly related to the objects of the of the charity. It also includes the expenditure in support of that activity where material.
|Donations
Religious Materials
Honorarium
Transportation
Publicity|**2021**
**2020**
380
1,150
400
20
250
1,813
100
878
130
472|
|---|---|
||**1,260**
**4,333**|
Page 6
## **3. MANAGEMENT AND ADMINISTRATION**
|Volunteer expenses
Pastor's Allowance
Rent & Rates
Light & heat
Telephone & fax & internet
Printing, postage & stationery
Insurance
Repairs & renewals
Accountancy
Bank charges & interest
General expenses
Depreciation|2,021
**2020**
£
£
-
852
-
600
18,000
11,987
233
279
689
798
481
500
281
249
130
1,296
1,296|
|---|---|
||**19,796**
**17,876**|
## **4. NET MOVEMENT IN FUNDS FOR THE YEAR**
|The net movement in funds for the year is stated
after charging
Depreciation of tangible fixed assets|**2021**
**2020**
**-**
**-**
1,296
1,297|
|---|---|
## **5.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:
|Church & office equipment
**6. FUNDS**
At 1 June 2020
Surplus/(Deficit) for the year
At 31 May|20% straight line
**Unrestricted**
**Restricted**
**Total**
**Funds**
**Funds**
**Funds**
**2021**
**£**
**£**
**£**
2,197
-
2,197
2,723
-
2,723
4,920
-
4,920|
|---|---|
## **6.1 UNRESTRICTED FUNDS**
These are grants and donations received or receivable for the objects of the charity without restrictions as to purpose but are available as general funds.
## **6.2 RESTRICTED FUNDS**
Restricted funds are used for the purpose as specified by the donor. Expenditure that meets these criteria is identified to the fund.
Page 7
## **7. FIXED ASSETS**
|**Cost**
At 1 June 2020
Additions
Disposals
At 31 May 2021
**Depreciation**
At 1 June 2020
Additions
Disposals
At 31 May 2020
**Net Book Value**
At 31 May 2020
**8. DEBTORS**
Rent deposit
**9.CREDITORS:AMOUNTS FALLING DUE WITHIN ONE YEAR**
Creditors
Accruals|**Furniture,**
**Fixtures &**
**Fittings**
**Total**
£
£
6,480
6,480
1,282
1,282
-
-
7,762
7,762
1,296
1,296
1,552
1,552
-
-
2,848
2,848
4,913
4,913
**2021**
**2020**
**-**
**-**
1,500
1,500
1,500
1,500
**2021**
**2020**
**-**
**-**
2,945
4,445
500
588
3,445
5,033|**Furniture,**
**Fixtures &**
**Fittings**
**Total**
£
£
6,480
6,480
1,282
1,282
-
-
7,762
7,762
1,296
1,296
1,552
1,552
-
-
2,848
2,848
4,913
4,913
**2021**
**2020**
**-**
**-**
1,500
1,500
1,500
1,500
**2021**
**2020**
**-**
**-**
2,945
4,445
500
588
3,445
5,033|
|---|---|---|
||7,762||
||1,296
1,552
-||
||2,848||
||4,913||
||||
|||1,500
1,500|
|||**2021**
**2020**
**-**
**-**
2,945
4,445
500
588|
|||3,445
5,033|
Page 8