Trustees Annual Report Year Ending 31 Dec 2023
**Charity Registered Address:** 217 – 223, Kingsland Road, London, E2 8AN **Charity Registration Number:** 274154
## **Contents:**
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Page 3 - 4
Overview:
The Trustees’ Board Report
Page 5 - 8
Our activities (Operations):
•
Community Progress Projects Report
Finance Reviews: Page 9 - 10
• Financial Review
•
Independent Examiner’s Report
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Finance:
• Statement of Financial Activities Page 12 - 19
(SOFAForm )
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General:
Page 22
•
Supporters & Funders of our works
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## **Trustees Annual Report (TAR) and Unaudited Accounts**
## **For the Year Ended 31 December 2023 CHRIST APOSTOLIC CHURCH (Bethel) UK**
The Trustees present their report for the year ended 31 December 2023
## **Charity Registration No. 274154**
The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity’s trust deeds, Charities Act 1993 and the Statement of Recommended Practice, “Accounting and Reporting by Charities” issued in March 2005.
## **Structure, governance and management**
The charity was set up by a charitable trust deed dated 13 July 1977. The Trustees who served during this year (2023) were:
- **Prophetess Fadeke Omideyi (General Overseer & Chair of the Board)**
- **Evangelist Jane Mahama**
- **Ms Alice Edeki**
- **Pastor David Folorunso**
- **Pastor Micheal Osundun**
- **Phyllis Dawn Smith**
Trustees are familiar with the workings of the church having been drawn from long standing Church members that have the skill set to offer an empathy with the charity’s core values. New trustees are invited and encouraged to attend training courses by the Chair and also to read guidelines and publications issued by the charity Commission eg **“the Essential Trustee”** , copies of which are given to the new trustees
## **Related Party Relationships**
Transactions with related parties are disclosed in the notes to the accounts.
## **Risk Management**
The trustees have assessed the major risks to which the charity is exposed and are satisfied that systems are in place to mitigate exposure to the major risks.
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## **Objectives and activities**
The object of the charity is the advancement of the Christian religion in accordance with the tenets and practice of the Christ Apostolic Church (Bethel) UK. Various policies were adopted during the year in furtherance of this object.
## **Statement of Trustees Responsibilities**
The Trustees are responsible for preparing the Trustees report and the accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to England and Wales requires the Trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that year.
In preparing these accounts the Trustees are required to:
- Select suitable accounting policies and then apply them consistently,
- Observe the methods and the principles of the charities SORP,
- Make judgments and estimates that are reasonable and prudent’
- State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the accounts; and
- Prepare the accounts on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
## **Summation**
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the accounts comply with the Charities Act 1993, the Charity (Accounts and Reports) Regulations and the provisions of the trust deed.
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.
## **Kunle Aderugbo**
## **Church Secretary For and on Behalf of the Board of Trustees 18 October 2024**
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## **Existing projects:**
I report on the current and existing community projects of the charity for the year ended 31 December 2023, which are set out in the attachment below
## **Project name:** Breakfast and Befriending Club
**Project Name:** “Harvesters”- Bags of Hope project
**Project Name:** Hope 4 All
**Project Name:** Go Getters
- Community Football Project - Relaunched (2022)
- Hackney Community Gospel Choir (HCGC) Relaunched (2022)
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Futur8 Projects in the coming years
Est. 2024
STAY TUNED
COMING
SOON
for more info contact
email: pacesetters@cacbetheL.org
tel: 020 7729 4375
STAY TUNED
COMING
SOON
for more info contact
email: pacesetters@cacbetheL.org
tel: 020 7729 4375
## **Kunle Aderugbo**
## **Head of Community Projects (Operations) 18 October 2024**
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## **Christ Apostolic Church (Bethel) UK To the Trustees of Christ Apostolic Church (Bethel) UK**
## **Financial Review**
I report on the state of the finances of the charity for the year ended 31 December 2023, which are set out in the below.
It has been a really challenging year for the charity with income from our members been squeezed due to the pandemic period (the previous year), but we have been able to maintain our reasonable spending position.
It is the policy of the Charity that unrestricted funds which have not been designated for specific use should be maintained at a level equivalent to between three- and six-month’s worth of expenditure.
The Trustees considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities whilst consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
## **David Folorunso**
**Head of Finance 18 October 2024**
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## **Christ Apostolic Church (Bethel) UK To the Trustees of Christ Apostolic Church (Bethel) UK**
I report on the accounts of the charity for the year ended 31 December 2023, which are set out in the attachment.
## **Respective responsibilities of the Trustees and Examiner**
The Charity's Trustees are responsible for the preparation of the accounts. The charity's Trustees consider that an audit is not required for this year under section 43(2) of the Charities Act 1993 (the 1993 Act) and that an independent examination is what is needed.
## **Basis of Independent Examiner's Report**
My examination was carried out in accordance with the general directions given by the Charity Commission.
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 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 statement below.
## **Independent examiner's statement**
In connection with my examination, no matter has come to my attention:
(a) which gives me reasonable cause to believe that in any material respect the requirements:
(i) to keep accounting records in accordance with section 41 of the 1993 Act; and (ii) to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 1993 Act; have not been met; or
(b) to which, in my opinion, attention should be drawn to enable a proper understanding of the accounts to be reached.
## **Deborah Anfo-Whyte**
## **Independent Examiner (Bsc Finance & Accounting)**
**46 Mayfield Close, Forest Road, London, E8 3DB**
**18 October 2024**
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Christ Apostolic Church (Bethel) UK Charity No
(if any)
274154
Annual accounts for the period
Period start date To Period end
01/01/2023 date 31/12/2023
Section A Statement of financial activities
Recommended categories by Unrestricted Restricted Endowment Prior year
activity funds income funds funds Total funds funds
£ £ £ £ £
Incoming resources (Note 3) F01 F02 F03 F04 F05
Income and endowments from:
Donations and legacies
S01 - 130,158 - 130,158 -
Charitable activities
S02 142,019 - - 142,019 -
Other trading activities
S03 - - - - -
Investments
S04 - - - -
Separate material item of income
S05 - - - - -
Other S06 - - - - -
Total S07 142,019 130,158 - 272,177 -
Resources expended (Note 6)
Expenditure on:
Raising funds
S08 - - - - -
Charitable activities
S09 126,314 85,796 - 212,110 -
Guidance Notes
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|Separate material item of expense
S10
Other
S11
**_Total_**
S12
**Net income/(expenditure) before investment**
**gains/(losses)**
S13
Net gains/(losses) on investments
S14
**Net income/(expenditure)**
S15
**Extraordinary items**
S16
**Transfers between funds**
S17
**Other recognised** **gains/(losses):**
Gains and losses on revaluation of fixed assets for the charity’s own use
S18
Other gains/(losses)
S19
**_Net movement in funds_**
S20
**_Reconciliation of funds:_**
Total funds brought forward
S21
**_Total funds carried forward_**
S22
1|-|-|-|-|-|
|---|---|---|---|---|---|
||-|
-|-|
-|
-|
||126,314|
85,796|
-|
212,110|
-|
|||||||
||15,705|44,362|-|60,067|
-|
||-|-|-|-|-|
||15,705|44,362|-|60,067|-|
||-|-|-|-|-|
||-|-|-|-|-|
|||||||
||-|-|-|-|-|
||-|-|-|
-|
-|
||15,705|44,362|-|60,067|-|
|||||||
||76,780|229,381|-|
306,161|-|
||92,485|273,743|-|
366,228||
|||||||
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## **Section B Balance sheet**
|Guidance Notes
**Fixed assets**
**Intangible assets (Note 15)**
B01
**Tangible assets (Note 14)**
B02
**Heritage assets (Note 16)**
B03
**Investments (Note 17)**
B04
**_Total fixed assets_**
B05
**Current assets**
**Stocks (Note 18)**
B06
**Debtors (Note 19)**
B07
**Investments (Note 17.4)**
B08
**Cash at bank and in hand (Note 24)**
B09
**_Total current assets_**
B10
**Creditors: amounts falling due within**
**one year (Note 20)**
B11
**_Net current assets/(liabilities)_**
B12
**_Total assets less current liabilities_**
B13|**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**
**Total this**
**year**
**Total last**
**year**
**£**
**£**
**£**
**£**
**£**
F01
F02
F03
F04
F05|**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**
**Total this**
**year**
**Total last**
**year**
**£**
**£**
**£**
**£**
**£**
F01
F02
F03
F04
F05|**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**
**Total this**
**year**
**Total last**
**year**
**£**
**£**
**£**
**£**
**£**
F01
F02
F03
F04
F05|**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**
**Total this**
**year**
**Total last**
**year**
**£**
**£**
**£**
**£**
**£**
F01
F02
F03
F04
F05|**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**
**Total this**
**year**
**Total last**
**year**
**£**
**£**
**£**
**£**
**£**
F01
F02
F03
F04
F05|
|---|---|---|---|---|---|
||-|-|-|-|-|
||25,180|-|-|25,180|-|
||-|-|-|-|-|
||-|-|-|
-|-|
||25,180|-|-|
25,180|-|
|||||||
||-|-|-|-|-|
||-|-|-|-|-|
||-|-|-|-|-|
||92,485|273,743|-|
366,228|-|
||92,485|273,743|-|
366,228|-|
|||||||
||1,200|-|-|1,200|-|
|||||||
||91,285|273,743|-|
365,028|-|
|||||||
||116,465|273,743|**-**|
390,208|-|
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|**Creditors: amounts falling due after**
**one year (Note 20)**
B14
**Provisions for liabilities**
B15
**_Total net assets or liabilities_**
B16|-|-|-|-|-|
|---|---|---|---|---|---|
||-|-|-|-|-|
|||||||
||116,465|273,743|-|
390,208|-|
|**_Total net assets or liabilities_**
B16|116,465|273,743|-|
390,208
-|
390,208
-|
|---|---|---|---|---|---|
|**Funds of the Charity**
**Endowment funds (Note 27)**
B17
**Restricted income funds (Note 27)**
B18
**Unrestricted funds**
B19
**Revaluation reserve**
B20
**_Total funds_**
B21||||||
||-|||-|-|
|||273,743|-|273,743|-|
||116,465|||116,465|-|
|||||-||
||116,465|273,743|-|
390,208|-|
Signed by one or two trustees on behalf of all the trustees
|Signature|Print Name|Date of
approval
dd/mm/yyyy|
|---|---|---|
||David Folorunso|20/09/2024|
||||
||||
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## **Section C Notes to the accounts (cont)**
## **Note 2 Accounting policies**
## **2.2 INCOME**
_This standard list of accounting policies has been applied by the charity except for those ticked "No" or "N/a". Where a different or additional policy has been adopted then this is detailed in the box below._
**Recognition of income**
These are included in the Statement of Financial Activities (SoFA) when:
- the charity becomes entitled to the resources;
- it is more likely than not that the trustees will receive the resources; and
- the monetary value can be measured with sufficient reliability.
There has been no offsetting of assets and liabilities, or income and expenses, unless required or permitted by the FRS 102 SORP or FRS 102.
## **Offsetting**
Grants and donations are only included in the SoFA when the general income recognition **Grants and donations** criteria are met (5.10 to 5.12 FRS102 SORP).
In the case of performance related grants, income must only be recognised to the extent that the charity has provided the specified goods or services as entitlement to the grant only occurs when the performance related conditions are met (5.16 FRS 102 SORP).
## **Legacies**
Legacies are included in the SOFA when receipt is probable, that is, when there has been grant of probate, the executors have established that there are sufficient assets in the estate and any conditions attached to the legacy are either within the control of the charity or have been met.
## **Government grants**
The charity has received government grants in the reporting period
Gift Aid receivable is included in 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 as an addition to the same fund as the initial donation unless the donor or the terms of the appeal have specified otherwise.
## **Tax reclaims on donations**
**and gifts**
|Yes
No
N/a|Yes
No
N/a|Yes
No
N/a|
|---|---|---|
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|Yes
No
N/a|||
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|Yes
No
N/a|||
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No
N/a|||
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|Yes
No
N/a|||
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|Yes
No
N/a|||
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|Yes
No
N/a|||
|ü|||
|Yes
No
N/a|||
16
## **Contractual income and performance related grants**
## **Donated goods**
## **Donated services and facilities**
## **Support costs**
## **Volunteer help**
This is only included in the SoFA once the charity has provided the related goods or services or met the performance related conditions.
Donated goods are measured at fair value (the amount for which the asset could be exchanged) unless impractical to do so.
The cost of any stock of goods donated for distribution to beneficiaries is deemed to be the fair value of those gifts at the time of their receipt and they are recognised on receipt. In the reporting period in which the stocks are distributed, they are recognised as an expense at the carrying amount of the stocks at distribution.
Donated goods for resale are measured at fair value on initial recognition, which is the expected proceeds from sale less the expected costs of sale, and recognised in 'Income from other trading activities' with the corresponding stock recognised in the balance sheet. On its sale the value of stock is charged against 'Income from other trading activities' and the proceeds from sale are also recognised as 'Income from other trading activities'.
Goods donated for on-going use by the charity are recognised as tangible fixed assets and included in the SoFA as incoming resources when receivable.
Gifts in kind for use by the charity are included in the SoFA as income from donations when receivable.
Donated services and facilities are included in the SOFA when received at the value of the gift to the charity provided the value of the gift can be measured reliably.
Donated services and facilities that are consumed immediately are recognised as income with an equivalent amount recognised as an expense under the appropriate heading in the SOFA.
The charity has incurred expenditure on support costs.
The value of any voluntary help received is not included in the accounts but is described in the trustees’ annual report.
|ü|||
|---|---|---|
|Yes|No|N/a|
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|Yes|No|N/a|
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**Income from interest,** This is included in the accounts when receipt is probable and the amount receivable can be **royalties and dividends** measured reliably. **Income from membership** Membership subscriptions received in the nature of a gift are recognised in Donations and **subscriptions** Legacies. Membership subscriptions which gives a member the right to buy services or other benefits are recognised as income earned from the provision of goods and services as income from charitable activities.
Insurance claims are only included in the SoFA when the general income recognition criteria **Settlement of insurance** are met (5.10 to 5.12 FRS102 SORP) and are included as an item of other income in the **claims** SoFA.
## **Investment gains and**
**losses** This includes any realised or unrealised gains or losses on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year.
## **2.3 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.
Support costs have been allocated between governance costs and other support. Governance costs comprise all costs involving public accountability of the charity and its compliance with regulation and good practice.
**Governance and support**
**costs**
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, eg allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.
Where the charity gives a grant with conditions for its payment being a specific level of service **Grants with performance** or output to be provided, such grants are only recognised in the SoFA once the recipient of the **conditions** grant has provided the specified service or output.
**Grants payable without** Where there are no conditions attaching to the grant that enables the donor charity to **performance conditions** realistically avoid the commitment, a liability for the full funding obligation must be recognised.
|Yes|No|N/a|
|---|---|---|
|ü|||
|Yes|No|N/a|
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|Yes|No|N/a|
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|Yes|No|N/a|
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|Yes|No|N/a|
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**Redundancy cost** The charity made no redundancy payments during the reporting period. **Deferred income** No material item of deferred income has been included in the accounts.
**Creditors** The charity has creditors which are measured at settlement amounts less any trade discounts
A liability is measured on recognition at its historical cost and then subsequently measured at **Provisions for liabilities** the best estimate of the amount required to settle the obligation at the reporting date
The charity accounts for basic financial instruments on initial recognition as per paragraph **Basic financial** 11.7 FRS102 SORP. Subsequent measurement is as per paragraphs 11.17 to 11.19, **instruments** FRS102 SORP.
## **2.4 ASSETS**
**Tangible fixed assets for** These are capitalised if they can be used for more than one year, and cost at least **use by charity**
They are valued at cost.
The depreciation rates and methods used are disclosed in note 9.2.
**Intangible fixed assets** The charity has intangible fixed assets, that is, non-monetary assets that do not have physical substance but are identifiable and are controlled by the charity through custody or legal rights. The amortisation rates and methods used are disclosed in note 9.5
## They are valued at cost.
**Heritage assets** The charity has heritage assets, that is, non-monetary assets with historic, artistic, scientific, technological, geophysical or environmental qualities that are held and maintained principally for their contribution to knowledge and culture. The depreciation rates and methods used as disclosed in note 9.6.1.4.
They are valued at cost.
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Yes|No|N/a|
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**Investments** Fixed asset investments in quoted shares, traded bonds and similar investments are valued at initially at cost and subsequently at fair value (their market value) at the year end. The same treatment is applied to unlisted investments unless fair value cannot be measured reliably in which case it is measured at cost less impairment.
Investments held for resale or pending their sale and cash and cash equivalents with a maturity date of less than 1 year are treated as current asset investments
## **Stocks and work in**
Stocks held for sale as part of non-charitable trade are measured at the lower or cost or net realisable value.
## **progress**
Goods or services provided as part of a charitable activity are measured at net realisable value based on the service potential provided by items of stock.
Work in progress is valued at cost less any foreseeable loss that is likely to occur on the contract.
Debtors (including trade debtors and loans receivable) are measured on initial recognition at settlement **Debtors** amount after any trade discounts or amount advanced by the charity. Subsequently, they are measured at the cash or other consideration expected to be received.
The charity has has investments which it holds for resale or pending their sale and cash and cash equivalents with a maturity date less than one year. These include cash on deposit and cash equivalents with a maturity date of less than one year held for investment purposes rather than to meet short term cash commitments as they fall due.
## **Current asset investments**
They are valued at fair value except where they qualify as basic financial instruments.
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Yes No N/a
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Yes No N/a
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Yes No N/a
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**POLICIES ADOPTED ADDITIONAL TO OR DIFFERENT FROM THOSE ABOVE**
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## **Organisations who currently fund and support our works:**
22