Charlty number 274922 THE CHURCH OF THE LORD ALADURA UK STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2024
CONTENTS CHARITY INFORMATION ... TRUSTEES REPORT....... . ACCOUNTANT'S REPORT. INCOME & EXPENDITURE ACCOUNT...... BALANCE SHEET.............. NOTES TO ACOUNTS.
ORGANISATION ENFORMATtON Working Name.. THE CHURCH OF THE LORD ALADURA Governing Document: DECLAR4TION OF TRUST DATED 12TH DECEMBER 1977 AND SCHEME OF THE 13 MARCH 1978 Telephone 0207 703 4890 TRuEEs I MANAGEME COMMrrTEE MEMBERS DR. RUFUS OKIKIOLA OSHtrELU REV. EMMANUEL BABATUNDE GBOGBOADE EVANGELI YAW DAVID BOAKYE EVANGELIST MARY TEmOpE 0SELu REV. DAVID AYOOLA FABUSORO REV. MRS BErrY ODUNSI REGISTERED OFFICE: 25 SURREY SQUARE WALWORTH LONDON SE17 2JU CHARrrY NO: 274922 P&ge I
Report of the trusteeslmanagement committee The trustees present their report with the accounts of a charity for the year ended 31st December 2024 PRINCIPAL Afflvrry DURING THE YEAR This year, the charity continued to preach, teach, and practice the word of God to reach many unbelievers, and many gave their life to the Christian faith, Spiritual and temporal welfare was ministered to people, and it is believed many will attain eternal salvation. Refurbishment works continued the main branch church was made possible during the year with the assistant of members and the reIpt of Gift aid refunds from the employed member's tax contributions. The Church leased a churth hall for the Deptford branch and salvation work continued during the year. ATEMENT OF TRuEES, REsPONsIBIL[Es The Charities Att 1993 requlres the trustees to prepare a statement of accounts for each financial year, which give a true and fair view of the state of affairs of the charity at the end of the financial year and of the incoming resour and application5 of resources of the charity of the periods; In preparing those accounts, the tnjstees are expected to: l. select suitable accounting poliaes and apply them consistently.. 2. make judgements and estimates that are reasonable and prudent: 3. state whether applicable accounting stsndards and statement of recommended practice have been followed, Subject to any material departures disclosed and explained in the statement of accounts.. and 4. prepare the accounts on the golng concem basis unless it is inappropriate to presume that the charity will continue in operation. 5. The trustees are responsible for keeping proper accounting records, which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the accounts comply with the regulation under S43 of the charities Act 1993. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps to the prevention and detection of error, fraud and other irregularities. ON BEHALF OF THE TRUSfEES ON THE 05TH MARCH 2024 Signed: ffiog&o/<DS Pag8 2
INDEPENDENT EXAMINER'S REPORT RESPEcfIvE REsPONsIBILIEs OF TRUSTEES AND EXAMINER. the charity's trustees you are responsible for the preparation of the accounts; VOU consider that the audit requirement of section 43(2) of the Charities Att 1993 (the Act) does not apply. It is my responsibility to state, on the basis of procedures specified the General Directions given by the Charity Commissioners under section 43(7)(b) of the Att, whether particular matters have come to my attention. BASIS OF INDEPENDENT EXAMINERS REPORT: My examination was carried out in accordan with the General Directions given by the Charity commissioners. 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 eviden that would be required in an audit, and consequently I do express an audit opinion on the view given by the accounts. INDEPENDEW EXAMINER'S STATEMEW: In connection with my examination, no matter has come to my attention, which gives me reasonable Cau to believe, that any materlal respects the requirements i. to keep accounting records in accordan with section 41 of the Art and 2. to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the Act has not been met. Mr E A Winful, FCCA EA WINFUL & ASSOCIATES CHARTERED CERTIFIED ACCOUNTANTS UNIT 95 LILLINGSTON HSE LONDON N7 7LZ Page 3
HE CHURCH OF THE LORD ALADURA UK. STATEMENT OF FINANCIAL ACTIVITIES For the year ende(J 31. DeMbr 2024 INCOME AND EXPENDITURE Notes Unrestrlcted Restricted 2024 2023 Incoming Resources Tithes & Offerings 177,106 177.106 193,764 Investment Income 4,131 4,131 Other Operating Income 28,809 28,809 30,025 Total Income Resources 210,046 223,789 Resources Expanded Cost of Activities 1235,2201 1192,427} Total Resources Expanded {235,2201 (192,4271 Net Incoming I Ioulgoingl Resources 125.174} 31,362 Funds brought forward 31112123 294,478 263,116 Designated funds utilised Funds carried forward 31112124 269,305 294,478 Se8 notes on the following pages for detailed analysis of incorne and expenditure CONTINUING OPERATION None of th8 charity's activities were acquired or disrA)nlinued during the current and previous years. and the deficit lor the previous year. TOTAL RECOGNISED GAINS AND DEFICITS The charity has no recognlsed gains or delicils other than Ihe surplus for the currenl yeai The notes form part ol these accounls. Page 4
THE CHU HOFTHE D ALADURA UK. ST 8ALANCE SHEET AS AT 31 DECEMBER 2024 FIXED ASSETS Note 2024 2023 Tangible Assets 69,916 46,284 CURRENT ASSETS Debtors Bank I Cash 28,809 174,528 203.337 30.025 222,118 252,143 CREDITORS.. Amounts falling due within one year 10 13.9501 13,9501 Nel Cvrrenl Asséts I ILi8bililies) 199,387 248,193 CREDITORS: Amounts lalling due foT mre than one year Tolal As5els less Liabilities 269,304 294.477 FUNDS UnSt[1ded Funds Rèstrided Funds 11 269,304 294,477 269.304 294.477 Si9nalure Page 5
THE HURCH O E LORD ALADURA U NOTES TO THE FINANCIAL STATEMENTS OF 2024 1 ACCOUNTING POLICIES 1 Aecounb'ng Convention The accounts have been prepared under the historical cost Gonvention, and in accordance wrth SORP 2 AcGounb'ng lor Charities. Exemption has been taken from preparing a cash flow statement on the grounds Ihel the charity is a small undertaking. Incoming Resources Incoming ReSoUrS represents collections, pledges & donations, and gift aid receipts income due in the year. 1.2 Tangible Fixed Assets Depreciation 15 provided al the following annual rates in order to write off each assets over its estimated useful life. Fixtures & Fittings Musical Equipment 10% 10./0 Page 6
HE CHLIRCH OF HE LORD ALADURA UK. Notes lo the Accounts for the year ended 31st Dernber 2024 2024 Notes 2024 2024 2023 Reslricled 2 TITHES & OFFERINGS 15 Unrestricted Tithes Collects'ons Thanksgiving Harvest Anniversary Diocese Total income received 78.928 30,704 15,428 6,863 45,183 78,928 30,704 1 S,428 6,863 45,183 114,444 15,227 20,713 26,879 3,250 13,251 193,764 177,1C*3 3 Investment Income 4131.29 Unreslricled Restricted 4 Other Income Gift Aid payment 28,809 28,809 30,025 5a COST OF ACTIVITIES Vicarage Salary Costs Admin & Stationaries Telephone Insurance Rent & Rates Gas & Electric Harvest, AniversaFies Donations , Gift & Other Char'rtable Offerings Purchase of bus Building project Depreciation Barhk charge5 Total Cost of ACtivitS 15 {50,318) (67,006) {5,2251 14,8441 {34,2401 118.8981 12,9501 12,067} (34,9001 {9,3981 17801 645 231,270 (61,1441 125,821} 12.7081 18,4181 120,0911 113.5191 12,9501 18,6081 143,7611 18121 1645 188,477 5b Governance 13,950) 13,9501 Page 7
TH HOF ELOR DURA 2024 2023 7 BANKI CASH TOTAL CASH BANKED per aggregate bank accounts 174.528 222,118 8 Current Assets 10 CREDITORS.. Amount falling due wthin one year Sundary CredrtOTS (3,9501 {3,9501 9 FIXED ASSETS Church Building Land @ Liverpool Fixtures & Fittings Church Bus Additions 12 13 14 28.000 28,000 82,767 34.900 82,767 10,488 121,255 145,667 Depreciation Charge during year 74,971 780 75,751 74.105 866 74,971 NBV 69,916 46,284 11 UNRESTRICTED FUNDS brought forward Surplus for the year Designated funds Cafried forward 294,477 125,1741 263,115 31,362 269,304 294,477 Page 8
THE CHURCH OF THE LORDA 12 Church Building.. The Church buildin9 was acquired freehold in 1978 al the cost of £ 28.000. 11 was valued In 1980's at £50,000. Current valuation is £940,000 13 Land @ Liverpool.. The Church owns a Land at Liverpool acquired at nil value. Current value is estimated lo be £392,000 14 Fixtures & Fittings.. This is mainty healing equipments. caTpets, tables & chairs, musical instruments and other equipments. Acquisition during the year is expensed. Depreciation is charged on its remaining net book value in 2024 15 INCOME & EXPENDITURE BY BRANCH INCOME eothknncwry Nmlwham North Lorthn Surw Square Tithes Offering Thanksgivin9 HaeSt 60th Anniversary App8a Inv85tmEnl incorne Europe DceS? GiltA receipts TOTAL 40.445 4,773 6.539 6,603 3,094 2,335 29,284 16.957 12.334 3,928 78,928 30,704 15,428 6,263 45,183 6QMJ 4,131 2.371 45,183 600 4.131 28,809 32,940 28,8( 210,046 45,183 5,031 45,218 19,171 62,503 EXPENDITURE VKarage Salary Costs Trnnsfer louty Sn Ele¢tricily & Gas Water & iefuse ¢clkcliD Transport i travel Insurance Rent Payable Admin & Gen Expens86 Charty & Donations Purchase of Bus Building maintenafice Buildin9 prqect Depreciatio GovemarKe 11,9931 112,7481 13001 148,0251 129,2841 44.6Y2 18,0901 12,0631 12,8601 12,3651 14,3941 150,3181 12,6601 17,8001 17701 115.8901 13,0081 15.2251 14,8441 134,2401 170,6011 12,0671 134,9001 11751 14501 128,CQOI 136,3341 16,2401 111,0251 18,3371 11,8741 110,2441 11.6001 13.(b11 11931 134,9001 1S.IM)01 19.3981 17801 13.9501 159,8901 139,4021 19,3981 17801 13.9501 1235.2201 TOTAL 145,1441 14.2601 173,3541 118.1701 Surplus I loef1t) 39 771 128,1361 1.(K>l 2.613 16,4621 125.1741 Page 9