2024-12-31-accounts - Dominion City Norwich

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DOMINION CITY NORWICH

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31[ST] DECEMBER 2024

CHARITY NUMBER: 1207901

DOMINION CITY NORWICH ST MICHAELS VA JUNIOR SCHOOL ASTLEY ROAD NORWICH NR5 9LA

INDEX Page Legal & Administrative Details 1 2-3 Statement of Financial Activities 5 Balance Sheet 6 Notes on the financial Statements 7 - 9

DOMINION CITY NORWICH

LEGAL & ADMINISTRATIVE DETAILS YEAR ENDED 31[ST] DECEMBER 2024

ADDRESS FOR CORRESPONDENCE

ST. MICHAELS VA JUNIOR SCHOOL ASTLEY ROAD NORWICH NR5 9LA

REGISTERED CHARITY NUMBER

1207901

GOVERNING DOCUMENT

CIO-FOUNDATION REGISTERED 17[TH] APRIL 2024

TRUSTEES/ DIRECTORS

Pastor Uchechukwu D Ezeugo Elochukwu Onyia Oluchi O Uwakwe

PRINCIPAL BANKERS

LLOYDS BANK 25 GRESHAM STREET LONDON EC2V 7HN

INDEPENDENT EXAMINER

FRESH FIRE ORGANISATION GENERATOR BUSINESS CENTRE 95 MILES ROAD MITCHAM CR4 3FH

DOMINION CITY NORWICH

YEAR ENDED 31[ST] DECEMBER 2024

The trustees are pleased to present their report for the year ended 31[st] December 2024 for the charity, Dominion City Norwich with charity number 1207901.

The Trustees of the charity are: Pastor Uchechukwu D Ezeugo Elochukwu Onyia Oluchi O Uwakwe

The principal address of the charity is: St Michaels VA Junior School Astley Road, Norwich NR5 9LA

STRUCTURE, GOVERNANCE AND MANAGEMENT

The Charity governing document is a CIO-Foundation that was registered 17[TH] April 2024.The Charity is governed by a board on which the trustees are represented. It meets regularly to review, plan activities and monitor the financial position.

OBJECTIVES AND ACTIVITIES

The Objects of the organisation are first to advance the Christian faith in accordance with the statement of beliefs for the benefit in the United Kingdom and in such other parts of the world as the trustees may think fit from time to time. The trustees confirm that they have had due regard to the guidance issued by the Charity Commission on public benefit before deciding what activities the charity should undertake.

ACHIEVMENTS AND PERFORMANCE

The Organisation continues to successful meetings through the year in which individuals were equipped and educated on the principles and doctrines of the Christian faith. The church held several conferences during the year that assisted to equip and encourage the members of the community regarding their personal and spiritual development.

FINANCIAL REVIEW

The income of the charity is above £24,000. This is a fair amount for this year of the charity the costs have been well managed over this period. The organisation is still in a good position to manage its costs.

FUTURE DEVELOPMENTS

The church intends to continue to host its regular worship services in the city. The intended re-appointment of our present independent examiner at the upcoming trustee meeting is expected to support the financial operations by making it more effective.

RESERVE POLICY

It is the policy of the Charity to maintain unrestricted funds, which are the reserves of the charity at about 3 months of unrestricted expenditure. This provides sufficient funds to cover any emergency expenditures that may arise from time to time. The charity will seek to maintain this level throughout the year.

RISK MANAGEMENT

The charity have assessed all the major risks to which the charity is exposed to, in particular those related to operations and finances of the charity, and are satisfied that systems are in place to mitigate exposure to major risks.

TRUSTEE RESPONSIBILITIES

Under the Charities Act 2011the trustees are required to prepare a statement of accounts for each accounting year which gives a true and fair view of the state of the church. They are required to:

Select suitable accounting policies and apply them consistently.
Make judgements and estimates that are reasonable and prudent.
State whether the applicable accounting standards have been followed.
Prepare financial statements on an ongoing basis.

They are responsible for keeping proper records which disclose with reasonable accuracy the finances of the church at any time and to ensure that such accounts comply with the Charities Act 2011.They also have a responsibility to safeguard the assets of the church and to take reasonable steps to detect fraud or other irregularities.

Approved by the Trustees on 12[th] May 2025 and signed on their behalf by:

To the Trustees DOMINION CITY NORWICH

I report on the accounts of the church for the year ended 31[st ] December 2024 set out on the following pages which have been prepared on the basis of the accounting policies shown in the corresponding pages.

Respective responsibilities of trustees and examiner

The trustees of the church are responsible for the preparation of accounts: they consider that the audit requirement under section 144(2) of the Charities Act 2011 (the 2011 Act),does not apply. It is my responsibility to :

Examine the accounts under section 145 of the 2011 Act.
Follow the procedures laid down in the General Directions given by the Charity Commissioners made under section 145(5)(b) of the 2011 Act.
State whether particular matters have come to my attention.

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 church 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.

In the course of my examination, no matter has come to my attention;

(1) which gives me reasonable cause to believe that, in any material aspect, the trustees have not met the requirements to ensure that:
proper accounting records are kept( in accordance with section 130 of the 2011 Act
accounts are prepared which agree with the accounting records and comply with the accounting requirements of the 2011 Act: or
(2) to which , in my opinion , attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Chuks Ajuka FICB PMDip Unit 5, Generator business centre 95 Miles road Mitcham Surrey CR4 3FH

DOMINION CITY NORWICH

Statement of Financial Activities for the year ended 31st December 2024

		Unrestricted	Total Funds
		Funds	2024
Incoming ResourcesNote		£	£
from generated funds
Donations and Legacies	2	24118	24118
Investment income	3	0	0
Other Income		24118	24118
Gift Aid		0	0
Total Incoming		24118	24118
Resources
Resources Expended
Charitable activities in furtherance of objectives
Charitable activities	6	14,526	14,526
Other	4	3195	3195
Total Resources		17,721	17,721
Expended
Net movement in funds		6,397	6,397
Reconciliation of Funds
Total Funds brought forward		1867	1867
Total Funds carried forward		8,264	8,264

The above funds are all classed as to purpose All movements of funds and all recognised gains and losses are included above.

The notes on the accounts form part of these accounts.

DOMINION CITY NORWICH Balance Sheet as at 31st December 2024

	Note	2024
Fixed Assets	£
Tangible fixed assets	5	3864
	___
		3864
	___
Current Assets
Cash at bank and		4800
in hand
Debtors & prepayments		0
		4800
Creditors:amounts falling due after one year
Creditors & accruals	8	400
	___
Net Current Assets		4400
	___
Net Assets		8264
Unrestricted Funds		8264
	___
TOTAL FUNDS		8264
	___

Approved by the trustees on 12th May 2025 and signed on their behalf by :

The notes on these accounts form part of these accounts

DOMINION CITY NORWICH NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31[ST] DECEMBER 2024

1.1 Basis of Accounting

These accounts have been prepared under the historic cost convention with items Recognised at cost or transaction values otherwise stated in the relevant note(s) to These accounts. The accounts have been prepared in accordance with: The Statement of Recommended Practice: Accounting and Reporting by Charities Preparing their accounts in accordance with the Financial Reporting Standard Applicable in the UK and Republic of Ireland (FRS102) issued on 16 July 2014.

1.2 Going Concern: The accounts are prepared on a going concern basis.

1.3 The accounts present a true and fair view and no change have been made to the accounting policies adopted.

1.4 No changes to the accounting estimates have occurred in the reporting period

1.5 No material prior year error have been identified in the reporting period.

Recognition of Income

These are included in the Statement of Financial Activities (SOFA) when:

The charity becomes entitled to resources;
It is more likely than not that the trustees will receive the resources; The monetary value can be measured with sufficient reliability.

Grants and Donations

Grants and Donations are only included in the SOFA when the general income recognition criteria are met (5.10 to 512 FRS102 SORP)

Tax reclaim on donations and gifts

Gift Aid receivable is included in the income when there is a valid declaration from the donor. Any gift aid amount recovered on a donation is considered to be part of that gift and is treated in addition to the same fund as the initial donation unless the donor or the terms of the appeal have specified otherwise.

EXPENDITURE AND LIABILITIES

Liability Recognition

Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty.

Grants and Support Costs

Support costs have been allocated between the governance costs and other support. Governance costs comprise all costs involving public accountability of the charity and its compliance with regulation and good practice.

DOMINION CITY NORWICH NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31[ST] DECEMBER 2024

Creditors

The charity has creditors which are measured at settlement amounts less any trade discounts.

ASSETS

Tangible Fixed Assets for use by the charity

They are capitalised if they can be used for more than one year. They are valued at cost. The depreciation is calculated at 20% reducing balance method.

Debtors

Debtors are measured on initial recognition at settlement amount. Subsequently they are measured at cash.

DOMINION CITY NORWICH

Notes to the accounts for year ended 31st December 2024

2 Donations and Legacies

Church collections Tithes & Offerings Total	Unrestricted Total funds Funds 2024 £ £ 24118 24118 24118 24118

3 Investment income

		Unrestricted	Unrestricted	Total funds
		Funds £		2024/£
	Bank Interest		0	0
4	Other		2024/£
	Bank charges		0
	Missions		895
	Charity donation		2300
			____
	Total		3195
			____
5	Tangible Fixed Assets		Building	Instrument	Equipment	Total	2024
	Cost		£	£	£	£
	At 17/04/2024				0		0
	Additions		1941 2888 4829 ______
	At 31/12/2024			1941	2888		4829
	Depreciation
	At 17/04/2024			0	0		0
	charge for the year		388 577 965 ______
	At 31/12/2024			388	577		965
	Net Book Value at	31/12/2024		1553	2311		3864
	Net Book Value at 17/04/2024				0		0

DOMINION CITY NORWICH Notes to the accounts for year ended 31st December 2024

6 Cost of Activities in furtherance of Charity's Objectives

	2024/£
Building & Hall hire	3413
Travel cost	1857
Repairs & Renewals	100
Hotel costs	203
Event Costs	2255
Welfare	450
Stationery	149
Depreciation	965
Church supplies	3408
Admin & Support costs	30
Sundry	175
Equipment expensed	405
Software	0
Professional fees	120
Subscriptions	162
Insurance	0
Refreshments	834
Total	14526

There were no employees of the charity during the financial year. All other work was carried out by volunteers during the year.

Trustee Remuneration

No trustee received any remuneration during the financial year

8 Creditors: amounts falling due after one year 2024/£ Credtiors 400 9 Debtors and Prepayments 2024/£ Debtors 0