## GOD IS ABLE CHERUBIM AND SERAPHIM SHILOH FINANCIAL STATEMENTS & REPORTS FOR THE YEAR ENDED 31[ST] MARCH 2024 1 | P a g e ## Contents Legal and Administrative Information .................................................................................................... 3 Trustees’ Annual Report ......................................................................................................................... 4 Objectives and activities ..................................................................................................................... 4 Achievements and performance ......................................................................................................... 4 Structure, governance and management ........................................................................................... 5 Future developments ........................................................................................................................... 5 Members' liability ................................................................................................................................... 6 Statement of Trustees' responsibilities ................................................................................................ 6 Accountant and Independent Examiners Report ................................................................................... 7 Respective Responsibilities of Trustees and Examiner ....................................................................... 7 Basis of Independent Examiner’s Report ............................................................................................ 7 Independent Examiner’s Statement ................................................................................................... 7 Statement of Financial Activities for the Year Ended 30[th] September 2023 .......................................... 8 BALANCE SHEET ...................................................................................................................................... 9 Accounting Policies ........................................................................................................................... 10 2 | P a g e ## Legal and Administrative Information Charity No: 1202736 MANAGEMENTG COMMITTEE/TRUSTEES Chair Person: Rev. Regina Adeyemi Trustee: Musibau Abiola Aetayo Atekoja Church Address: 6 Lelita Close Pownall Road Hackney London E8 4SN Bankers: Lloyds Bank Plc. 25 Gresham Street London EC2V 7HN Accountants: Eclat Accountancy Ltd 71 Dartmouth Road London SE23 3HT 3 | P a g e ## Trustees’ Annual Report The Trustees present their annual report together with the financial statements of the Charity for the year 1[st] April 2023 to 31[st] March 2024. The Trustees confirm that the annual report and financial statements of the charity comply with current statutory requirements, and the requirements of the charity governing document ## Objectives and activities ## Policies and objectives Our principal objective is to grow the spirituality of the members by encouraging participation in discipleship activities, bible study and in spiritual programmes as planned in the church's calendar of events and programmes. Our goal remains to raise practical Christians who live by the Word of God, with their lives demonstrating the power and effectiveness of God's Word. We seek to realise these goals and objectives by pursuing a programme of sustained growth and expansion through intensifying our prayer, evangelism and outreach activities. ## Public benefit In planning the activities of the church, the Trustees have considered the Charity Commission's guidance on public benefit and, in particular, the specific guidance for charities on the advancement of religion. ## Achievements and performance ## Review of activities During the period under review, the Board of Trustees in collaboration with the religious leadership of the church consolidated their decisions to run the charity’s operations (church services / programmes) from our new address (5 River Road, Barking, IG11 0HE), and to strengthen our administrative systems. The organisation saw significant growth numerically, which was an outcome of the proactive evangelism drive of some members of the church. In effect, we had more people volunteering to take up diverse roles to support the activities of the church. The most significant volunteering roles were cleaning and ushering. These activities fostered a greater sense of belongingness and harmony in the church. We continue to make encouraging and sustained progress at helping members improve their spiritual lives through Bible Study and prayer 4 | P a g e In the coming year, we want to deploy the use of social media platforms in the church to disseminate Christian materials, and other relevant information to help develop our members and all other persons who associate with our church community to live more responsible and positive lives in the wider community, as patriotic citizens of the country. ## Structure, governance and management ## Constitution God Is Able, Cherubim & Seraphim Shiloh is a registered charity, number 1202736, and is constituted under a CIO, Foundation model. The principal object of the Charity is the advancement of the Christian faith in accordance with the Tenets of faith in such ways and such parts of the parts of the United Kingdom and the World as the Trustees may from time to time determine. ## Methods of appointment or election of Trustees The management of the Charity is the responsibility of the Trustees who are elected and coopted under the terms of the governing document of the charity. ## Financial 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 Trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the Charity. This will be under constant monitoring including, reviewing the organization’s systems and procedures to ensure that the major risks of the organization are managed effectively. ## Future developments The charity is on course with its 5 years development plan. Our annual programmes are all geared towards ensuring that our objectives at each stage of our plan are realised. We intend to expand our reach to other communities here in the United Kingdom through enhanced media broadcast. This would be a cost-effective expansion option and thus reduce our overheads. We acknowledge that a strong financial position is key to achieving our growth and expansion plans. In light of this, the Church would embark on a fundraising programme to boost our financial resources so we could deliver our ambitions. We will continue to use our Discipleship programmes and other educational and training 5 | P a g e events to drive the spiritual growth and development of our members. Youth mobilisation and development will continue to assume centre stage in our strategy. We are developing plans to introduce reforms that would help mobilise the youth, galvanise their passion for and commitment to the course of the gospel **.** ## Members' liability If the CIO is wound up, the members of the CIO have no liability to contribute to its assets and no personal responsibility for settling its debts and liabilities. ## Statement of Trustees' responsibilities The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England & 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 its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to: - select suitable accounting policies and then apply them consistently; - observe the methods and principles of the Charities SORP (FRS 102); - make judgments and accounting estimates that are reasonable and prudent; • state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and 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) Regulations 2008 and the provisions of the Governing document. 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. Approved by order of the members of the board of Trustees and signed on their behalf by: Rev. Regina Adeyemi. 21[st] February 2025 ___________________________ _______________________ Rev. Regina Adeyemi – Chairperson Date 6 | P a g e ## Accountant and Independent Examiners Report ## Respective Responsibilities of Trustees and Examiner The charity’s trustees are responsible for the preparation of the accounts, and they have considered that the audit requirement of section 145(1) of the charities ACT 2011 does not apply, nevertheless required in this examiners report. As an independent examiner, it is our responsibility to state, on the basis of procedures specified in the General Directions given by the charity commissioners under section 145(5)(b) of the charities Act 2011, 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 independent 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. ## Independent Examiner’s Statement In connection with our examination, no matter has come to our attention- 1. Which gives us reasonable cause to believe that in any material respect the requirements - a. To keep accounting records in accordance with section 130 (1)(2) of the 2011 ACT and - b. To prepare accounts which record with the accounting records and to comply with the accounting requirements of the 2011 Act, to which, in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. 21[st] February 2025 ________________________________ ________________________ Luanne Olawumi Date Eclat Accountancy Ltd 71 Dartmouth Road, London SE23 3HT 7 | P a g e ## Statement of Financial Activities for the Year Ended ## 31[st] March 2024 |**INCOMING RESOURCES**
**Notes**
Tithes, Offerings & Similar Incomes
2
**TOTAL INCOMING RESOURCES**
**RESOURCE EXPENDED**
Management & Administration
3
**TOTAL RESOURCE EXPENDED**
NET INCOMING RESOURCES
FUNDS Brought Forward
FUNDS Carried Forward|**31-Mar-24**
**£**
**Total**
12,901.21| |---|---| ||**12,901.21**| ||3,953.33| ||**3,953.33**| ||8,947.66
0| ||**8,947.66**| 8 | P a g e ## BALANCE SHEET |**Notes**
**CURRENT ASSETS**
Current Account
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**NET ASSETS**
**ACCUMULATED FUNDS**
Funds Unrestricted
7
Approved by the Trustees and
Signed on their behalf by the Chair:|**31-Mar-24**
**£**
**Total**
8,947.66| |---|---| ||8,947.66| ||| ||**8,947.66**| ||8,947.66| ||**8,947.66**| ||| 21[st] February 2025 ___________________________ _______________________ Rev. Regina Adeyemi – Chairperson Date 9 | P a g e **NOTES TO THE FINANCIAL STATEMENT FOR THE YEAR END ENDED 31 MARCH 2024 FIGURE 1** ## Accounting Policies ## **1. BASIS OF PREPARATION** The accounts have been prepared using the historic cost convention, complied with the Charities Act 2011 and the Statement of Recommended Practice 2005 (Accounting and Reporting by Charities), and in accordance with the principles and requirements of the Financial Reporting Standard for Smaller Entities (2015). ## **2. GRANTS, DONATIONS etc** These are recognised in full in the Statement of Financial Activities in the period in which they are received. ## **3. Management & Administration** This comprises all expenditure directly related to the objects of the charity. It also includes the expenditure in support of that activity, where material |Rent|1,953.55| |---|---| |Shepherd's & Church Worker's Allowances|2,000.00| |**Total Management and**|| |**Administration Expenses**
|**3,953.55**| ## **4. UNRESTRICTED FUND** These are normally Grants and Donations received or receivable to carry out the objects of the charity without restrictions as to purpose and are available as general funds. ## **5. RESTRICTED FUND** This Charity has no restricted fund. 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. 10 | P a g e ## **6.** ## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES** ## **FOR THE YEAR ENDED 31 MARCH 2024** |**Account**|**31-Mar-24**| |---|---| |**Turnover**|| |Tithes,Offerings & Similar Incomes|12,901.21| |**Total Turnover**|**12,901.21**| |**Administrative Costs**|| |Rent|1,953.55| |Shepherd’s & Church Worker’s Allowances|2,000.00| |**Total Administrative Costs**|**37,756.25**| |**Operating Profit**|**8,947.66**| ||| |**Profit on Ordinary Activities Before Taxation**|**8,947.66**| ||| |**Profit after Taxation**|**8,947.66**| 11 | P a g e