2020-12-31-accounts - Celestial Church Of Christ

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REGISTERED CHARITY NUMER: 280611

CELESTIAL CHURCH OF CHRIST - ELEPHANT AND CASTLE PARISH

REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2020

Contents Report of the Trustees Independent Examiner's Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements Detailed Statement of Financial Activities

CELESTIAL CHURCH OF CHRIST - ELEPHANT AND CASTLE PARISH

TRUSTEES ANNUAL REPORT

YEAR ENDED 31 DECEMBER 2020

The trustees present their report and the unaudited financial statements of the charity for the year ended 31 December 2020.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Charity number: 280611

PRINCIPAL ADDRESS

187 Glengall Road, London, SE15 6RS

THE TRUSTEES

The trustees who served the charity during the period were as follows:

Assistant Venerable Superior Evangelist - Rev J O Shebioba (passed away 25/03/2020) Honorary Most Senior Evangelist Benjamin Ade Aina QC - Chairman Leader Karo Orovboni - Secretary Superior Evangelist Akin Kupoluyi - Treasurer

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes an unincorporated charity.

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 terror.

Signed by order of the trustees on 13[th] July 2021 and signed on its behalf by:

B Aina - Trustee

CELESTIAL CHURCH OF CHRIST - ELEPHANT AND CASTLE PARISH

TRUSTEES ANNUAL REPORT

YEAR ENDED 31 DECEMBER 2020

I report on the accounts for the year ended 31st December 2020 set out on the following pages.

Respective responsibilities of 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 144 of the Charities Act 2011 (“the Charities Act”) and that an independent examination is needed. The charity’s gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of the Association of Chartered Certified Accountants.

It is my responsibility to:

examine the accounts under section 145 of the Charities Act,
to follow the procedures laid down in the general Directions given by the Charity Commission (under
section 145(5)(b) of the Charities Act, and
to state whether particular matters have come to my attention.

Basis of independent examiner’s statement

My examination was carried out in accordance with 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 the 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:

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 Charities Act; and
to prepare accounts which accord with the accounting records and comply with the accounting
requirements of the Charities Act

have not been met; or

to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

BRADLEY SUCKLING BSc (HONS) FCCA for: TURPIN BARKER ARMSTRONG ALLEN HOUSE 1 WESTMEAD ROAD SUTTON, SURREY SM1 4LA

Date: 13[th] July 2021

CELESTIAL CHURCH OF CHRIST - ELEPHANT AND CASTLE PARISH

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING THE INCOME AND EXPENDITURE ACCOUNT)

YEAR ENDED 31 DECEMBER 2020

INCOMING RESOURCES Incoming resources from charitable activities TOTAL INCOMING RESOURCES RESOURCES EXPENDED Charitable activities Governance costs TOTAL RESOURCES EXPENDED NET INCOMING RESOURCES FOR THE YEAR/NET INCOME FOR THE YEAR RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD	Unrestricted Funds 2020 £ 298,126 298,126 (334,802) (22,275) (357,077) (58,951) 1,117,570 1,058,619	Total Funds 2019 £ 349,576
		349,576 (290,062) (31,042)
		(321,104) 28,472 1,089,098
		1,117,570

CELESTIAL CHURCH OF CHRIST - ELEPHANT AND CASTLE PARISH

BALANCE SHEET / STATEMENT OF FINANCIAL POSITION

31 DECEMBER 2020

2020 Unrestricted fund £ £ 1,032,907 131,105 5,165 125,681 261,951 (53,898) 208,053 1,240,960 (182,341) 1,058,619 1,058,619 1,058,619	2019 Total funds £ £ 1,041,534 66,837 5,165 245,230 317,232 (46,206) 271,026 1,312,560 (194,990) 1,117,570 1,117,570 1,117,570	2019 Total funds £ £ 1,041,534 66,837 5,165 245,230 317,232 (46,206) 271,026 1,312,560 (194,990) 1,117,570 1,117,570 1,117,570
261,951 (53,898)	317,232 (46,206)

		271,026
		1,312,560 (194,990)
		1,117,570
		1,117,570
		1,117,570

Trustees' responsibilities:

The members have not required the charity to obtain an audit of its accounts for the year in question; and

The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements were approved and signed by the member of the committee and authorised for issue on 13[th] July 2021.

B Aina - Trustee

CELESTIAL CHURCH OF CHRIST - ELEPHANT AND CASTLE PARISH

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2020

1 ACCOUNTING POLICIES

Basis of accounting

The financial statements have been prepared under the historical cost convention, except for investments which are included at market value, and 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.

Incoming resources

All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.

In August 2020 the charity has made a gift-aid claim to H M Revenue & Customs in respect of incoming collections between January 2016 and December 2019 and this has been recognized as income in the year ended 31[st] December 2020. A gift aid claim for the period January 2020 to December 2020 has not been made yet and therefore the value of the claim is undetermined and has not been included in these accounts.

Resources expended

Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost in relation to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

The charity undertook a number of building projects in the year ended 31[st] December 2020. The cost of these projects has not yet been analysed therefore the total cost has been shown within premises repair costs. Once such an analysis has taken place any improvement costs will be capitalised.

Fixed assets

All fixed assets are initially recorded at cost.

Depreciation

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Plant and machinery - 25% reducing balance Fixtures & Fittings - 25% reducing balance Motor Vehicles - 25% reducing balance

Depreciation has not been provided for on freehold property and associated improvements as the trustees believe that this would not sow a 'true and fair view' of the financial position as the market value of the freehold property is in excess of cost therefore have invoked a true and fair override.

Taxation

The charity is exempt from tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the entity

2 TRUSTEES' REMUNERATION AND BENEFITS

One trustee (Rev J O Shebioba) received monthly remuneration during the years ended 31st December 2019 and for the period up to 25[th] March 2020.

3 STAFF COSTS

Wages and salaries	2020 2019 £ £ 21,142 51,773

The average number of employees in the year was 1 (2019 - 2).

CELESTIAL CHURCH OF CHRIST - ELEPHANT AND CASTLE PARISH

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2020

4 TANGIBLE FIXED ASSETS

COST At 1 January 2020 Additions At 31 December 2020 DEPRECIATION At 1 January 2020 Charge for the year At 31 December 2020 NET BOOK VALUE At 31 December 2020 At 1 January 2020	Freehold property Equipment Fixtures & Fittings Motor Vehicles £ £ £ £ 1,151,176 15,408 163,780 36,840 0 0 0 0 1,151,176 15,408 163,780 36,840 144,151 15,408 135,492 30,619 - 7,072 1,555 144,151 15,408 142,564 32,174 1,007,025 0 21,216 4,666 1,007,025 12 7,569 19,660	Total £ 1,367,204 0
		1,367,204
		325,670 8,627
		334,297
		1,032,907
		1,034,266

5 INVESTMENTS

Movement in market value 2020 £ Market value at 1 January 2020 5,165 Movement in market value - Market value at 31 December 5,165 2020

6 DEBTORS

Other debtors Fountain Nursery HMRC - gift aid UK/NI Diocese Insurance Prepayment	2020 £ 70,552 55,231 0 5,322 131,105	2019 £ 50,552 0 1,000 5,285
		56,837

CELESTIAL CHURCH OF CHRIST - ELEPHANT AND CASTLE PARISH

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2020

7 CREDITORS: Amounts falling due within one year

2020 £ Bank loan 17,748 Taxation and social security 14,117 Hire purchase and finance lease agreements 0 Accruals and deferred income 22,033 53,898 8 CREDITORS: Amounts falling due after more than one year 2020 £ Bank loans and overdrafts 182,341 Amounts falling due in more than five years: Repayable by instalments: RBS bank loan 182,341 9 UNRESTRICTED INCOME FUNDS At 01.01.20 Net movement in funds £ £ General Funds 1,117,570 (58,951) Total funds 1,117,570 (58,951) Net movement in funds included in the above are as follows: Incoming resources Resources expended £ £ General funds 298,126 (357,077) Total funds 298,126 (357,077)	2020 £ Bank loan 17,748 Taxation and social security 14,117 Hire purchase and finance lease agreements 0 Accruals and deferred income 22,033 53,898 8 CREDITORS: Amounts falling due after more than one year 2020 £ Bank loans and overdrafts 182,341 Amounts falling due in more than five years: Repayable by instalments: RBS bank loan 182,341 9 UNRESTRICTED INCOME FUNDS At 01.01.20 Net movement in funds £ £ General Funds 1,117,570 (58,951) Total funds 1,117,570 (58,951) Net movement in funds included in the above are as follows: Incoming resources Resources expended £ £ General funds 298,126 (357,077) Total funds 298,126 (357,077)	2019 £ 17,748 13,910 0 14,548
		46,206
		2019 £ 194,990
		194,990
		At 31.12.20 £ 1,058,619
	1,117,570 (58,951)	1,058,619
		Net movement in funds £ (58,951)
	298,126 (357,077)	(58,951)

CELESTIAL CHURCH OF CHRIST - ELEPHANT AND CASTLE PARISH

DETAILED STATEMENT OF FINANCIAL ACTIVITIES

YEAR ENDED 31 DECEMBER 2020

INCOMING RESOURCES Incoming resources from charitable activities: Collections Gift aid Grants - HMRC CJRS Grants - Bexley Council Day nursery - rent Amazing Grace - rent Bird in Bush Road - rent Bank and other interest TOTAL INCOMING RESOURCES RESOURCES EXPENDED Charitable activities Wages Shepherd's contingency Pastoral fund contributions Choir & Sunday School Repairs and renewals Vicarage project Bird In bush refurbishment project Fountain refurbishment project Glengall road project Bexley development project Telephone Cleaning Office costs Travelling and transport Heat and light Anniversaries and events Christ Castle magazine Rates Hospitality and refreshment Youth and womens’ ministries Missions and donations Evangelical ministries	2020 £ 181,355 55,231 8,261 10,000 30,000 0 13,124 156 298,126 21,142 21,171 3,785 9,992 9,250 4,000 4,942 12,178 105,513 49,224 1,594 1,142 2,659 2,491 12,085 0 1,400 0 8,405 3,700 54,023 436 329,130	2019 £ 283,831 0 0 0 60,000 500 4,878 367
		349,576 51,773 19,113 9,382 15,266 44,859 0 0 0 0 23,045 1,733 4,200 8,449 3,330 11,130 21,940 6,950 607 11,433 12,886 30,354 9,724
		286,174

This page does not form part of the statutory financial statements

CELESTIAL CHURCH OF CHRIST - ELEPHANT AND CASTLE PARISH

DETAILED STATEMENT OF FINANCIAL ACTIVITIES

YEAR ENDED 31 DECEMBER 2020

Governance costs Security Legal and professional fees Insurances Bank charges and interest Taxes and levies Depreciation of fixed assets Hire purchase Support costs Accountancy Payroll Total resources expended Net income	2020 £ 4,074 1,000 5,285 3,288 0 8,627 0 22,275 4,898 774 5,672 357,077 (58,951)	2019 £ 6,898 0 4,826 7,815 0 11,503 0
		31,042 3,888 0
		3,888
		321,104

		28,472

This page does not form part of the statutory financial statements