**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:
1. 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
2. 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**
|**Note**
**FIXED ASSETS**
Tangible assets
**4**
**CURRENT ASSETS**
Debtors
**6**
Investments
Cash at bank and in hand
**CREDITORS: Amounts falling due**
**within one year**
**7**
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**CREDITORS: Amounts falling due**
**after more than one year**
**8**
**NET ASSETS**
**FUNDS**
Unrestricted income funds
**9**
**TOTAL FUNDS**|**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