(Registered Charity 1195403)
THE ELEVATION CHURCH UK
UNAUDITED FINANCIAL STATEMENTS AND TRUSTEES' REPORT
For 17 Months to December 31, 2022
IHP Limited 34 Paston Close South Woodham Ferrers Chelmsford, Essex CM3 5UA
Contents
Section 1: GENERAL INFORMATION ............................................................................................ 3 Section 2: PUBLIC BENEFITS STATEMENT 17 Months TO DECEMBER 31, 2022 ............ 4 Section 3: TRUSTESS REPORT FOR 17 Months TO DECEMBER 31, 2022 ........................ 5 Section 4: STATEMENT OF TRUSTEES' RESPONSIBILITIES ................................................ 8 Section 5: INDEPENDENT EXAMINER'S REPORT FOR 17 Months TO DECEMBER 31, 2022 ........................................................................................................................................................ 9 Section 6: STATEMENT OF RECEIPTS AND PAYMENTS FOR 17 Months TO DECEMBER 31, 2022 ....................................................................................................................... 11 Section 7: STATEMENT OF ASSETS AND LIABILITIES AS ON DECEMBER 31, 2022 ... 12 Section 8: NOTES TO THE FINANCIAL STATEMENTS FOR 17 Months TO DECEMBER 31, 2022 ............................................................................................................................................... 13 Section 9: DETAILED STATEMENT OF RECEIPTS AND PAYMENTS FOR 17 Months TO DECEMBER 31, 2022 ....................................................................................................................... 15
THE ELEVATION CHURCH UK
Section 1: GENERAL INFORMATION
INCORPORATION
The charitable body was incorporated on 05 August 2021 and commenced trading on the same date.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company Number: 13136210
(England and Wales)
Organisation type
STANDARD REGISTRATION
Registered office
Crown House, 27 Old Gloucester Street, London WC1 3AX United Kingdom
Trustees
OLUWATOSIN ABOSEDE BABALOLA
ABRAHAM AYODELE ONI PASTOR OPEOLU OWOTOMO AWOLESI
Independent Examiner
IHP Limited 34 Paston Close South Woodham Ferrers Chelmsford Essex CM3 5UA
Bankers
Metro Bank
THE ELEVATION CHURCH UK
Section 2: PUBLIC BENEFITS STATEMENT 17 Months TO DECEMBER 31, 2022
The Elevation Church UK is focused on driving its objects for public benefit in line with the provisions of the relevant regulations. In the period under review, some of the relevant activities include the following:
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Provision of information and hosting of events aimed at strengthening family life and relationships through webinars, teachings, and one on one counselling for interested parties.
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This is aimed at strengthening families and homes as the foundational institution for the society.
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Webinars and educational resources provided to men through the Men’s Room initiative aimed at empowering participants to live their best lives and be their best selves thereby bringing progress and advancement to their respective homes and families.
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Community engagement events held in the summer to create atmosphere of interaction, friendship and promote the principles of community and love.
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Two weeklong events for children under thirteen and youths above thirteen held in the summer to equip the teenagers with life skills relevant to their current phases of life and for thriving in today’s complex world. These events were hosted and open to participants from all walks of life. Attendees were from several cities in different countries in Europe and Africa.
THE ELEVATION CHURCH UK
Section 3: TRUSTESS REPORT FOR 17 Months TO DECEMBER 31, 2022
TRUSTEES REPORT
December 2022. The trustees have adopted the provisions of the Statement of Recommended Prac�ce (SORP) 'Accoun�ng and Repor�ng by Chari�es' issued in March 2005.
Structure, Governance, and Management
Structure The charitable body was established by a charitable trust deed on 05 August 2021.
The trustees who served during the year were:
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Oluwatosin Abosede Babalola (appointed October 2021)
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Abraham Ayodele Oni (appointed January 2021)
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Opeolu Owotomo Awolesi (appointed January 2021)
The Charity's Objects
of the Chris�an faith worldwide through (but not exclusively through): -
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the holding of prayer mee�ngs, lectures, public celebra�on of religious fes�vals, producing and/or distribu�ng literature on the Chris�an faith, and enlightening others about the same.
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broadcas�ng faith-based messages of an evangelis�c and teaching nature across our communi�es in the UK. This also includes community outreach that is beneficial to the social well-being of the communi�es that we serve; and
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holding events, crea�ng, and circula�ng resources aimed at empowering the general body of Christ and suppor�ng other Chris�an ministries with dedicated resources for missionary ac�vi�es.
General Ac�vi�es
Sequel to its registra�on as a company in January 2021 and its registra�on as a Charity in August 2021, The Eleva�on Church UK (The Church) commenced physical services on 10 October 2021. Services are held weekly to meet the spiritual, emo�onal, and social needs of members, regular atendees, and the public who interact with the messages and other resources produced by the Church. In addi�on to the physical services, which cater to the needs of adults and children alike, we also ran online services for children (ages 2 to 12), youths (ages 13 to 18), and adults. The online community of the Church serves families in different ci�es in the UK and other parts of Europe. Our services averaged about one hundred and fi�y atendees in person and online weekly.
In addi�on to weekly services, the Church invests in the well-being of members through events that are designed to resource them for effec�veness in life. These events are focused on the youths, children, and adults alike. Some of the events for adults are designed to provide informa�on for personal effec�veness, marital enrichment, and spiritual maturity.
THE ELEVATION CHURCH UK
TRUSTESS REPORT FOR 17 Months TO DECEMBER 31, 2022 (continued)
All such events are broadcast through pla�orms that allow people to par�cipate live and engage curated content on demand. During the repor�ng period, our weekly services reached hundreds of people in person and digitally. Our social media pla�orms have received thousands of engagements for the consump�on of the resources made available free of charge. We have indeed received feedback confirming the impact of such events, services, teaching, etc in the lives of our members and other members of the public.
Community Impact
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As part of our ini�a�ves to connect with and be a blessing to our communi�es, we partnered with the Islington Food Bank to provide food items to people in need. We also mobilized our members to volunteer in their local communi�es. Our congrega�on is predominantly people of African descent, in recogni�on of the need for blood dona�on to NHS from people of this ethnic demography, we mobilized our members to donate blood.
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We held outreach events in Manchester, Bristol, and London to bring together members of our community who lived in those places.
Children and Youth Ini�a�ves
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As a church focused on atrac�ng and serving families, our junior church educates children on the fundamentals of our faith. Our team of volunteers creates a robust curriculum with engaging topics and teaches the children weekly. We engage in person and online. We reached an average of 50 children weekly. The benefits of these classes are evident in the impact stories shared by the families of our lovely children.
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During the summer, we held a 3-day Vaca�on Bible school to engage the children and deepen their faith. This was held online and was atended by children from about five countries.
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During the summer, we held a two-day event called the Navigate Conference for teenagers. The event was held online and taught par�cipants life skills such as music produc�on, coding, baking, and digital media amongst others.
- To meet the needs of our members for spiritual growth, discipleship, friendship, and community, we have small groups. These small groups atract people of similar interests who do life together, grow together, and encourage one another. We had a variety of such groups accommoda�ng people in London and other parts of the UK who par�cipated virtually.
Plans for Future Periods
the months and years to come. Our immediate interest is in star�ng another congrega�on in Manchester. In addi�on, the Charity con�nues to explore ways of furthering its charitable objec�ves in in an effec�ve manner by ensuring there is awareness of its services, and they are proac�vely seeking opportuni�es to be more involved in the communi�es where our members reside.
THE ELEVATION CHURCH UK
TRUSTESS REPORT FOR 17 Months TO DECEMBER 31, 2022 (continued)
Financial Management
The primary source of income of The Church is the free will giving and dona�ons of members in line with the biblical understanding of the need to support the work of the local assembly through charitable and voluntary giving of different kinds. The Charity does not raise money from the public, nor does it engage third par�es to do so on its behalf.
principles of frugality, preven�on of fraud, and effec�ve deployment of assets. During the period under review, the Church maintained one bank account and a PayPal account for the collec�on of freewill dona�ons from members.
Risk management
The trustees have a duty to iden�fy and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
THE ELEVATION CHURCH UK
Section 4: STATEMENT OF TRUSTEES' RESPONSIBILITIES
The Trustees are responsible for preparing the financial statements in accordance with the applicable law and UK Generally Accepted Accounting Practice (GAAP).
Charity law require the Trustees to prepare financial statements for each financial year which gives a true and fair view of the state of affairs of the charitable body and of its income and expenditure for the financial year.
In doing so, the Trustees are required to:
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a) Select suitable accounting policies and apply them consistently;
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b) Observe methods and principles in the Charities SORP;
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c) Make judgement and estimates that are reasonable and prudent;
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d) Follow applicable accounting standards and statements of recommended practice, subject to
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e) any material departures disclosed and explained in the accounts;
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f) Prepare the financial statements on the going concern basis unless it is inappropriate to
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g) assume that the charity will continue in operation.
The Board of Trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the Elevation Church UK and to enable them to ensure that the financial statements comply with the Church Accounting Regulations, Charities Act 2011 and the provisions of the trust deed. They are also responsible for safe-guarding the assets of The Elevation Church UK and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
THE ELEVATION CHURCH UK
Section 5: INDEPENDENT EXAMINER'S REPORT FOR 17 Months TO DECEMBER 31, 2022
I report on the Financial Statements of The Eleva�on Church UK for the period ended 31st December 2022 which have been prepared in accordance with the Chari�es Act 2011 and with the Financial Repor�ng Standard for Smaller En��es (FRSSE) effec�ve April 2008 as modified by the SORP issued by the Charity Commission for England and Wales.
My report is in respect of an examina�on carried out in accordance with the Church Accoun�ng Regula�ons 2006 ("the Regula�ons") and the Chari�es Act 2011 ("the Act").
The report is made solely to the Board of Trustees. My examina�on has been undertaken so that I might state to the Trustees those maters as may be required to be stated in an independent examiner's report and for no other purpose.
To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Board of Trustees of The Elevation Church, for my examination, for this report or for the opinions I have formed.
Respective Responsibilities of Trustees and Examiner
The charity's trustees (who are also the directors for the purposes of company law) are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under "The Regulations" in accordance with Part 16 of the Companies Act 2006 and that no member or members have requested an audit pursuant to section 476 of the Companies Act 2006, and that there is no requirement in the governing document or constitution of the Charity for the conducting of an audit, that Section 144(2) of the Act does not apply and that an independent examination is required.
Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:
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examine the accounts under Section 145 of the Act.
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follow the procedures laid down in the General Directions given by the Charity Commission (under Section 145(5)(b) of the 2011 Act); and
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state whether matters have come to my attention.
Basis of the Independent Examiner's Report
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My examination was carried out in accordance with the General Directions given by the Charity Commission for England & Wales setting out the duties of an independent examiner issued by the Charity Commissioners under section 43(7)(b) of the Act) in relation to the conducting of an independent examination, referred to above.
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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.
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The purpose of the examination is to establish as far as possible that there have been no breaches of the Charities legislation and that the financial statements comply with the Statement of Recommended Practice issued by the Charity Commissioners for England & Wales (effective April 2005 as modified in June 2008),
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• on a test basis, of evidence relevant to the amounts and disclosures in the financial statements.
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The procedures undertaken do not provide all the evidence that would be required in an audit, and information supplied by the trustees in the course of the examination is not subjected to audit tests or enquiries, and consequently I do not express an audit opinion on the view given by the financial statements, and in particular no opinion is given as to whether the accounts present a 'true and fair view ' and the report is limited to those matters set out in the statements below.
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I planned and performed my examination to satisfy myself that the objectives of the independent examination are achieved.
Independent Examiner's Statement, Report, and Opinion
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In accordance with Regulation 31 of The Charities (Accounts and Reports) Regulations 2008, the accounts of The Elevation Church UK are not required to be audited under Part 16 of the Companies Act 2006.
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this is a report in respect of an examination carried out under section 43 of the Charities Act 1993 and in accordance with any directions given by the Commission under subsection (7)(b) of that section which are applicable.
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that no matter has come to my attention:
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a. which gives me reasonable cause to believe that, in any material respect, the requirements
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to keep accounting records in accordance with Section 130 of the Companies Act and
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to prepare accounts which accord with the accounting records, comply with the accounting requirements of relevant sections of the 2011 Act and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities
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have not been met.
- b. that would have indicated grey areas in the understanding of the accounting records kept.
In Him Possible Limited
34 Paston Close Chelmsford, CM3 5UA
Oluwaseun Faloye FCCA, FAAT 23/10/2023
THE ELEVATION CHURCH UK
Section 6: STATEMENT OF RECEIPTS AND PAYMENTS FOR 17 Months TO
DECEMBER 31, 2022
| ECEMBER 31, 2022 | |
|---|---|
| Unrestricted Restricted Funds Funds RECEIPTS £ £ Offerings and donations 257,240 50,000 Generated Income - - PAYMENTS Welfare - - Management and Administration Costs 53,656 Equipment Purchase 10,878 - Salaries 28.602 - Rent 94,193 Honourarium and Professional Fees 12,180 - Total Payments 199,509 - Net of receipts/(payments) 57,731 50,000 Transfer between funds - - Cash funds this year end 57,731 50,000 |
CY Total Funds £ 307,240 |
| 307,240 - 53,656 10,878 28.602 94,193 12,180 |
|
| 199,509 107,731 |
|
| - 107,731 |
All activities derive from continuing operations
THE ELEVATION CHURCH UK
Section 7: STATEMENT OF ASSETS AND LIABILITIES AS ON DECEMBER 31,
2022
| Unrestricted Restricted Funds Funds ASSETS Cash Balance brought forward - - Net new Cash and Cash Equivalents 57,731 50,000 Equipment, leasehold & furniture 10,878 - Total Assets 68,616 50,000 LIABILITIES Liabilities - - General Funds: Net Assets 68,616, 50,000 Total Liabilities & Funds 68,616 50,000 |
CY Total Funds - 107,731 10,878 118,609 - 118,609 118,609 |
|---|---|
For the year ended 31 December 2022 the company was entitled to exemption from audit under section 477 of the companies act 2006 relating to small companies.
Director’s/Trustee's responsibilities:
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The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
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The directors acknowledge their responsibilities for complying with the requirements of the companies act 2006 with respect to accounting records and the preparation of accounts.
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These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime of Part 15 of the Companies Act 2006.
The financial statements were approved by the Board of Trustees on................................ and 19 October 2023 were signed on its behalf by:
..................................................... Opeolu Awolesi …………………………………………………. Trustee Name Signature
THE ELEVATION CHURCH UK
Section 8: NOTES TO THE FINANCIAL STATEMENTS FOR 17 Months TO DECEMBER 31, 2022
ACCOUNTING POLICIES
1. Accounting Convention
The financial statements have been prepared under the cash basis of accounting. Under this basis, revenues and related assets are recognized when received rather than when earned and expenses are recognised when paid rather than when obligation is incurred. The cash basis of accounting differs from generally accepted accounting principles primarily because the Organization has not recognized contributions and program service fees receivable, and accounts payable to vendors, and their related effects on the change in net assets.
2. Cash and Cash Equivalents
Cash and cash equivalents consist of cash in bank and money market funds.
3. Taxation
The charity is exempt from corporation tax on its charitable activities.
4. Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund can be provided on request.
5. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration.
6. MOVEMENT IN FUNDS
| 6. MOVEMENT IN FUNDS |
|||||
|---|---|---|---|---|---|
| Net movement | |||||
| At end | of PY | in funds | At end of CY | ||
| £ | £ | £ | |||
| Unrestricted Funds: | General | - | 57,731 | 57,731 | |
| Resricted Funds: | General | - | 50,000 | 50,000 | |
| TOTAL FUNDS | - | 107,731 | 107,731 | ||
| Net movement in funds, included in the | above are as follows: | ||||
| Receipts | Payments | Movement | |||
| in funds | |||||
| £ | £ | £ | |||
| Unrestricted Funds: | General | 257,240 | - 199,509 | 57,731 | |
| Resricted Funds: | General | 50,000 | - | 50,000 | |
| TOTAL FUNDS | 307,240 | - 199,509 | 107,731 | ||
| THE ELEVATION CHURCH | UK |
NOTES TO THE FINANCIAL STATEMENTS FOR 17 Months TO DECEMBER 31, 2022
7. Winding up or dissolution of the Charity
If upon winding up or dissolution of the charity there remain any assets, after the satisfaction of all obligations the assets represented by the accumulated funds shall be transferred to some other charitable body or bodies having similar objectives to The Elevation Church. Winding up (if so agreed and required) shall mainly be in accordance with the steps as set out in The Elevation Church Trust Deed (Section 10)
8. Funds Surplus for the Financial Year
CY This is stated after recorded receipts from Ordinary activities 107,731 and after charging Independent Examiner's fee -
9. Restricted Funds
The Chairty a total Restricted funds of £50,000 at year end.
THE ELEVATION CHURCH UK
Section 9: DETAILED STATEMENT OF RECEIPTS AND PAYMENTS FOR 17 Months TO DECEMBER 31, 2022
RECEIPTS £ £ Generated Income Offerings & Tithe 307,240 Total Receipts 307,240 PAYMENTS Charitable activities Welfare - Management and administration costs in support of charitable activities Equipment & Supplies 10,878 Venue Rent 94,193 Office 24,989 Honorarium 12,180 Sunday Service, Events and Conferences 28,667 Donation to other Charities - Utilities - Salaries 28,602 Governance Cost Professional Services Total Payments 199,509 Net of receipts/(payments) 107,731