(Registered Charity 1195403)
THE ELEVATION CHURCH UK
UNAUDITED FINANCIAL STATEMENTS AND TRUSTEES' REPORT
12 Months Account to December 31, 2023
IHP Limited
34 Paston Close
South Woodham Ferrers
Chelmsford,
Essex
CM3 5UA
THE ELEVATION CHURCH UK
Contents
| Page | |
|---|---|
| General Information | 2 |
| Public Benefits Statement | 3 |
| Trustees Report | 4 - 6 |
| Statement of Trustees' Responsibilities | 7 |
| Independent Examiner's Report | 8 - 9 |
| Statement of Receipts and Payments | 10 |
| Statement of Assets and Liabilities | 11 |
| Notes to the Financial Statements | 12 - 13 |
| Detailed Statement of Receipts and Payments | 14 |
THE ELEVATION CHURCH UK
GENERAL INFORMATION
INCORPORATION
The charitable body was incorporated on 05 August 2021 and commenced trading o
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 and Paypal
THE ELEVATION CHURCH UK
Public Benefits Statement
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:
- 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.
This is aimed at strengthening families and homes as the foundational institution for the society
• 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
• Community engagement events held in the summer to create atmosphere of interaction, friendship and promote the principles of community and love.
• 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
Trustess Report for the 12 Months Account to December 31, 2023
The Trustees present their report with the financial statements of the charity for the year ended December 31, 2023. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities' 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)
Risk management
The trustees have a duty to identify 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 Charity's objects are:
The Charity’s Object (“the Object”) which is to be carried out for the public benefit is the advancement
of the Christian faith worldwide through (but not exclusively through): -
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the holding of prayer meetings, lectures, public celebration of religious festivals, producing and/or
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distributing literature on the Christian faith and to enlighten others about the same.
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broadcasting faith-based messages of an evangelistic and teaching nature across our communities in the UK.
This also includes community outreach that is beneficial to the social wellbeing of the communities that we serve; and
- holding events, creating, and circulating resources aimed at empowering the general body of Christ and support other christian ministries with dedicated resources for missionary activities.
General Activities
During the reporting period, The Elevation Church UK continued to pursue its core objective of making greatness common through the promotion of the Christian faith. Whilst the London Church continued to wax strong in membership and impact, we started another church campus in Manchester in May 2023. The Elevation Church Manchester has rapidly grown to more than 200 children and adults in attendance at its weekly services. In addition to starting the Manchester Church, we also started Missional communities in 9 different cities across England and Scotland to meet the needs of members and community members who desire a community of faith and impact. Some of the missional communities will metamorphose into full blown churches in the coming years.
Our online services and webinars continue to 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 cities in the UK and other parts of Europe. Our services averaged about one hundred and fifty attendees in person and online weekly
In addition to weekly services, the Church invests in the well-being of members through events that are designed to resource them for effectiveness in life. These events are focused on youths, children, and adults alike. Some of the events for adults are designed to provide information for personal effectiveness, marital enrichment, and spiritual maturity. All such events are broadcast through platforms that allow people to participate live and engage curated content on demand. During the reporting period, our weekly services reached thousands of people in person and digitally. Our social media platforms have received thousands of engagements for the consumption 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.
THE ELEVATION CHURCH UK
Trustess Report for the 12 Months Account to December 31, 2023 (Continued)
Community Impact
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As part of our initiatives to connect with and be a blessing to our communities, 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 communities. Our congregation is predominantly people of African descent, in recognition of the need for blood donation to NHS from people of this ethnic demography, we mobilized our members to donate blood.
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In Manchester, we have an ongoing partnership with the Salford Food Bank to provide groceries periodically, provide volunteers to serve with them and also serve as a distributions point for vouchers to * We also positioned to be a blessing to immigrant families and individuals by organizing webinars to provide relevant information for them to settle into the United Kingdom. The series of webinar is captioned Settled and we have recently partnered with HSBC to provide financial information.
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As a church focused on attracting 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
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During the summer, we held a 3-day Summer Camp for our youth and children.
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To meet the needs of our members for spiritual growth, discipleship, friendship, and community, we have small groups. These small groups attract people of similar interests who do life together, grow together, and encourage one another. We had a variety of such groups accommodating people in London and other parts of the UK who participated virtually.
Plans for Future Periods
We are focused on growing significantly and reaching more people in several cities across the UK in the months and years to come. Our immediate interest is in starting another congregation in Manchester. In addition, the Charity continues to explore ways of furthering its charitable objectives in in an effective manner by ensuring there is awareness of its services and they are proactively seeking opportunities to be more involved in the communities where our members reside.
THE ELEVATION CHURCH UK
Trustess Report for the 12 Months Account to December 31, 2023 (Continued)
In addition to weekly services, the Church invests in the wellbeing of members through events that are designed to resource them for effectiveness in life. These events are focused on the youths, children, and adults alike. Some of the events for adults are designed to provide information for personal effectiveness, marital enrichment, and spiritual maturity. All such events are broadcast through platforms that allow people to participate live and engage the curated contents on demand. During the reporting period, our weekly services reach hundreds of people in person and digitally. While our social media platforms have received thousands of engagements for the consumption 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.
Financial Management
The primary source of income of The Church is the freewill giving and donations of members in line with biblical understanding of the need to support the work of the local assembly through charitable and voluntary giving different kinds. The finances of The Elevation Church are managed in line with sound financial practices to drive the principles of frugality, prevention of fraud and effective deployment of assets. During the period under review, the Church maintained one bank account and a PayPal account for the collection of freewill donations from members.
Risk management
The trustees have a duty to identify 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.
ON BEHALF OF THE TRUSTEES :
…………..............................................Mr Opeolu Awolesi Trustee Name 30 October 2024 ............................................ Date
………….............................................. Signature
THE ELEVATION CHURCH UK
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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any material departures disclosed and explained in the accounts;
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e) Prepare the financial statements on the going concern basis unless it is inappropriate to
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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 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
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES
I report on the Financial Statements of The Elevation Church UK for the period ended 31st December 2023 which have been prepared in accordance with the Charities Act 2011 and with the Financial Reporting Standard for Smaller Entities (FRSSE) effective April 2008 as modified by the SORP issued by the Charity Commission for England and Wales.
My report is in respect of an examination carried out in accordance with the Church Accounting Regulations 2006 ("the Regulations") and the Charities Act 2011 ("the Act").
The report is made solely to the Board of Trustees. My examination has been undertaken so that I might state to the Trustees those matters 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 UK, 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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-to follow the procedures laid down in the General Directions given by the Charity Commission (underSection 145(5)(b) of the 2011 Act); and
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-to state whether matters have come to my attention.
Basis of the independent examiner's report
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.
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 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), on a test basis, of evidence relevant to the amounts and disclosures in the financial
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
I planned and performed my examination to satisfy myself that the objectives of the independent examination are achieved.
THE ELEVATION CHURCH UK
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES - continued
Independent examiner's statement, report, and opinion
Subject to the limitations upon the scope of my work as detailed above, in connection with my examination, I can confirm that:
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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:
(a) which gives me reasonable cause to believe that, in any material respect, the requirements
_ to keep accounting records in accordance with Section 130 of the Companies Act and
_ 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 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 South Woodham Ferrers Chelmsford, CM3 5UA
Oluwaseun Faloye
FCCA, FAAT 29th October 2024
Registered Charity: 1195403
THE ELEVATION CHURCH UK
Statement of Receipts and Payments for 12 Months to December 31, 2023
| Unrestricted Funds RECEIPTS £ Offerings and donations 406,180 Generated Income 709 406,889 PAYMENTS Events, Service and Pastoral Care 128,488 Management and Administration Costs 30,016 Equipment Purchase 23,765 Salaries 79,437 Rent 111,134 Honourarium and other Professional Fees 4,678 Total Payments 377,518 Net of receipts/(payments) 29,372 Transfer between funds - Cash funds this year end 29,372 |
Restricted Funds £ 50,000 - - - - - - 50,000 - 50,000 |
CY Total Funds £ 456,180 709 456,889 128,488 30,016 23,765 79,437 111,134 4,678 377,518 79,372 - 79,372 |
PY Last Year Total Funds £ 322,841 - |
|---|---|---|---|
| 322,841 - 61,211 10,878 32,178 99,833 12,480 |
|||
| 216,580 106,261 |
|||
| - 106,261 |
All activities derive from continuing operations
Registered Charity: 1195403
THE ELEVATION CHURCH UK
Statement of Assets and Liabilities At December 31, 2023
| ASSETS Cash Balance brought forward Net new Cash and Cash Equivalents Equipments , leasehold & furnture Total Assets LIABILITIES Liabilities General Funds: Net Assets Total Liabilities & Funds |
Unrestricted Funds 57,537 29,372 26,718 113,626 - 113,626 113,626 |
Restricted Funds 50,000 50,000 - 100,000 - 100,000 100,000 |
CY Total Funds 107,537 79,372 - 213,626 - 213,626 213,626 |
PY Last Year Total Funds - 106,261 2,953 117,139 |
|---|---|---|---|---|
| - | ||||
| 117,139 117,139 |
For the year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the companies act 2006 relating to small companies.
Trustees' 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.
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.
30 October 2024 The financial statements were approved by the Board of Trustees on ............................................. and were signed on its behalf by:
.......................................................Mr Opeolu Awolesi …………………………………………………. Trustee Name Signature
THE ELEVATION CHURCH UK
Notes to the Financial Statements for 12 Months Account to December 31, 2023
1 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 recieved 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.
1 Cash and Cash Equivalents
Cash and cash equivalents consist of cash in bank and money market funds.
1 Taxation
The charity is exempt from corporation tax on its charitable activities.
1 Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustess.
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.
2 TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration .
3 MOVEMENT IN FUNDS
| Unrestricted Funds: General Resricted Funds: General TOTAL FUNDS Net movement in funds, included in the above are Unrestricted Funds: General Resricted Funds: General TOTAL FUNDS |
Net movement At end of PY in funds £ £ 57,537 29,372 50,000 50,000 107,537 79,372 as follows: Receipts Payments £ £ 406,889 377,518 - 50,000 - 456,889 377,518 - |
At end of CY £ 86,909 100,000 |
|---|---|---|
| 186,909 | ||
| Movement in funds £ 29,372 50,000 |
||
| 79,372 |
THE ELEVATION CHURCH UK
Notes to the Financial Statements for 12 Months Account to December 31, 2023
4 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 chriatble 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)
5 Funds Surlpus for the Financial Year
CY PY
This is stated after
recorded reciepts from Ordinary activities 456,180 322,841
and after charging
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- Independenet Examiner's fee
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6 The Chairty had no Restricted funds at year end.
THE ELEVATION CHURCH UK
DETAILED Statement of Receipts and Payments for 12 Months to December 31, 2023
| RECEIPTS Generated Income Offerings & Tithe Total Receipts PAYMENTS Charitable activities Welfare Management and administration costs in support of charitable activities Equipment & Supplies Venue Rent Office Honourarium Sunday Service, Events and Conferences Other Rents Utilities Salaries Governance Cost Professional Services Total Payments Net of receipts/(payments) |
£ 709.00 456,180 - 23,765 93,634 30,016 4,677 128,488 17,500 - 79,437 - |
£ 456,889 377,517 |
|---|---|---|
| 79,372 |