Charity number: 803740
CELESTIAL CHURCH OF CHRIST EDWARD STREET PARISH
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FOR THE YEAR ENDED 31/12/2024
Celestial Church of Christ Edward Street Parish
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31/12/2024
TRUSTEES D. Ojogbede J. Iroro C. Omoruan O. Oni E. Odubanjo A. Ajibuwa A. Alabede A. Osabiya O. Elegbe
CHARITY NUMBER 803740
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Celestial Church of Christ Edward Street Parish
ACCOUNTS FOR THE YEAR ENDED 31/12/2024
| CONTENTS | |
|---|---|
| Page | |
| Reportof theTrustees | 3 |
| Independent Examiner'sStatement | 6 |
| Statement of Financial Activities | 8 |
| BalanceSheet | 9 |
| Notes to theAccounts | 10 to 14 |
| Detailed Statement of Financial Activities | 13 |
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Celestial Church of Christ Edward Street Parish
FOR THE YEAR ENDED 31/12/2024
TRUSTEES' REPORT
The trustees present their report and accounts for the year ended 31/12/2024
OBJECTIVES AND ACTIVITIES
The Church was established for charitable purposes, its object being to advance religion in accordance with the Christian faith and for other purposes recognised by English law as charitable.
The Church advances the Christian faith by the: -
• The provision of a place of worship for members and the community.
• The provision of devotional services of Christian faith every Sunday, Friday, and Wednesday and also on the first Thursday of each month. The services feature sermons, music, and thanksgiving.
• The provision of a Sunday School for Children up to 17 years old.
• The Provision of a Bible Class and Bible study on Tuesdays.
• The Provision of night vigil prayer sessions for the members twice weekly.
• Engaging in fundraising events from time to time within the community, particularly at annual harvest thanksgiving services, which take place every 1st Sunday in June and September of each year.
• Support the community on local initiatives for children and the elderly, crime prevention, and people in need.
Public benefit
The trustees confirm their compliance with their duty to have due regard to the public benefit guidance published by the Charity Commission when reviewing the Charity's aims and objectives and in planning future activities. As a matter of policy, the charity opens its doors to the public on all days of worship and activity.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
During the year, the church continued to function to the satisfaction of the trustees.
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Celestial Church of Christ Edward Street Parish
FOR THE YEAR ENDED 31/12/2024
TRUSTEES' REPORT
ACHIEVEMENT AND PERFORMANCE
Charitable activities
During the year, the church continued to function to the satisfaction of the trustees.
As of the date of this report, all Church services were held at the St Marks Centre. Weekly night vigils and monthly revivals continued to feature prominently in the church's calendar.
The church held its annual Thanksgiving harvest for both children and adults during the summer of 2024. Mothers' Day and Father's Day celebrations were also observed at the church during the year.
The church held special programmes during the Christmas season where gifts were distributed to the homeless and the needy, in the neighbourhood of the church.
The church took seriously its social responsibility and made charitable donations to some charitable organisations, including the Macmillan Cancer Research, Girl Child, Great Ormond Street Hospital, and the Sickle Cell Charity.
The trustees wish to acknowledge the contribution of volunteers who have contributed to the running of the church
FINANCIAL REVIEW
Financial position
Donations and church collections continue to recover well during the year.
The trustees are determined to keep within budget and will continue to examine ways to increase income as well as savings in costs.
Reserves policy
The Trustees are always working toward maintaining a minimum reserve of £150,000 which will be the amount that will keep the charity working for twelve months without any income.
Fundraising activities
Several fundraising activities took place during the year. This resulted in free will offerings being received to the satisfaction of the trustees.
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 error.
A review of the potential risks that are faced by the charity has been undertaken. These are seen to be in the area of financial controls. Appropriate and reasonable systems are in place to cover foreseeable eventualities. Further reviews will be undertaken from time to time.
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Celestial Church of Christ Edward Street Parish
FOR THE YEAR ENDED 31/12/2024
TRUSTEES' REPORT
This report was approved by the Board of Trustees on 22/06/2025
J. Iroro
Trustee
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Celestial Church of Christ Edward Street Parish
INDEPENDENT EXAMINER'S STATEMENT
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CELESTIAL CHURCH OF CHRIST EDWARD STREET PARISH
I report on the accounts of the company for the year ended 31/12/2024.
RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER
The trustees are responsible for the preparation of the accounts in accordance with The Charities Act 2011.
It is my responsibility to:
-
examine the accounts under section 145 of the Charities Act 2011;
-
follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Charities Act; and
-
state whether particular matters have come to my attention.
BASIS OF INDEPENDENT EXAMINERS 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 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.
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Celestial Church of Christ Edward Street Parish
INDEPENDENT EXAMINER'S STATEMENT
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INDEPENDENT EXAMINERS 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 prepare accounts which accord with the
accounting records, comply with the methods and principles of the
Statement of Recommended Practice: Accounting and Reporting by
Charities 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
...................................................
Date: 22/06/2025
E H TURKSON ACMA
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Celestial Church of Christ Edward Street Parish
Statement of Financial Activities for the year ended 31/12/2024
| Income Incomefrom generated funds Incomefrom Investments Incomefrom charitable activities TotalIncome and endowments Expenses Costsof generating funds Expenditureon Raised funds Expenditureon Charitable activities TotalExpenses Net gains on investments NetIncome Gains/(losses) onrevaluation of fixed assets Netmovementinfunds: Net income fortheyear Total fundsbrought forward Net funds carriedforward |
Unrestricted funds £ 53,005 135,517 188,522 14,230 202,073 216,303 (27,781) (27,781) 1,609,024 1,581,243 |
Restricted funds £ - - - - - - - - - - |
2024 Total £ 53,005 135,516 188,521 14,230 202,073 216,303 (27,782) (27,782) 1,609,024 1,581,242 |
2023 Total £ 56,496 131,890 |
|---|---|---|---|---|
| 188,386 | ||||
| 13,872 100,706 |
||||
| 114,578 | ||||
| 73,808 | ||||
| 73,808 1,535,216 |
||||
| 1,609,024 |
This statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities
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Celestial Church of Christ Edward Street Parish
| BALANCE SHEET AT 31/12/2024 FIXED ASSETS Tangible assets CURRENTASSETS Cashat bank and in hand CREDITORS: Amountsfalling duewithin oneyear NET CURRENTASSETS TOTALASSETSLESS CURRENT LIABILITIES Notes 3 341,764 341,764 4 1,350 CAPITALANDRESERVES Unrestricted funds General fund 6 |
2024 £ 1,240,828 340,414 1,581,242 1,581,242 1,581,242 |
388,246 388,246 1,350 |
2023 £ 1,222,129 386,896 |
|---|---|---|---|
| 1,609,025 | |||
| 1,609,025 | |||
| 1,609,025 |
Approved by the board of tr ustees on 22/06/2025 and signed on their behalf by
............................. D. Ojogbede Trustee
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Celestial Church of Christ Edward Street Parish
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31/12/2024
1. ACCOUNTING POLICIES
1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with FRS102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities.
1b. Incoming R esour ces
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.
1c. R esour ces Expended
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related 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.
1d. Allocation And Apportionment Of C osts
All costs relate to the single activity of the charitable company and are recognised accordingly.
1e. 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 charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Designated funds are funds set aside by the trustees out of unrestricted general funds for the specific future purposes or projects.
1f. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Plant and Machinery Fixtures and Fittings
reducing balance 20% reducing balance 20%
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Celestial Church of Christ Edward Street Parish
| 2. EMPLOYEES Averagenumberofemployees 3. TANGIBLE FIXED ASSETS Cost At 01/01/2024 Additions At 31/12/2024 Depreciation At 01/01/2024 For the year At 31/12/2024 NetBookAmounts At 31/12/2024 At 31/12/2023 4. CREDITORS: AMOUNTS FALLINGDUE WITHIN ONE YEAR Othercreditors |
Land And Buildings £ 1,220,000 - 1,220,000 48,000 - 48,000 1,172,000 1,172,000 |
2024 No. 1 Plant and Machinery £ 90,046 9,372 99,418 45,241 10,835 56,076 43,342 44,805 Fixtures and Fittings £ 33,794 26,534 60,328 28,470 6,372 34,842 25,486 5,324 2024 £ 1,350 1,350 |
2023 No. 1 Total £ 1,343,840 35906 |
2023 No. 1 Total £ 1,343,840 35906 |
|---|---|---|---|---|
| , 1379746 |
||||
| ,, 121,711 17207 |
||||
| , 138,918 |
||||
1,240,828 |
||||
| 1,222,129 | ||||
2023 £ 1350 |
||||
| , 1,350 |
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Celestial Church of Christ Edward Street Parish
- UNRESTRICTED FUNDS
| General fund | Brought forward £ 1,609,024 1,609,024 |
Incoming resources £ 188,521 188,521 |
Outgoing resources £ (216,303) (216,303) |
Transfers £ - - |
Carried forward £ 1,581,242 |
|---|---|---|---|---|---|
| 1,581,242 |
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Celestial Church of Christ Edward Street Parish
Incoming Resources
for the year ended 31/12/2024
| Incomingresources Incomingresourcesfromgeneratedfunds Investmentincome RentReceived Charitable Activity Donations and Collections |
53,005 135,516 |
2024 £ 53,005 53,005 135,516 135,516 188,521 |
56,496 131,890 |
2023 £ 56,496 |
|---|---|---|---|---|
| 56,496 | ||||
| 131,890 | ||||
| 131,890 | ||||
| 188,386 |
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Celestial Church of Christ Edward Street Parish
Ex penses for the year ended 31/12/2024
| Expenses Costs of generatingfunds InvestmentManagementCosts Investment Expenses-Letting Agent InvestmentsExpenses-Repairs Investment Expenses-Insurance Charitable Activities Salaries and Wages Rates and Water LightandHeat Welfare Gifts andDonations Travellingand Transport Security and Maintenance CleaningandHygiene ChoirExpenses Spiritual Items Functions and Events SundaySchool Telephone Printingand Stationery Pastoral Fund Repairs andrenewals Accountancyfees Insurance Bankcharges Depreciation of plantand machinery Depreciation of fixtures and fittings |
2024 £ 3,345 7,485 3,400 14,230 14,230 8,900 24,809 18,961 9,015 2,900 - 1,829 2,506 14,680 7,058 22,782 1,500 1,770 475 2,600 50,460 1,350 11,034 2,237 10,835 6,372 202,073 216,303 |
2023 £ 3,983 6,912 2,977 |
|---|---|---|
| 13,872 | ||
| 13,872 | ||
| 9,000 873 12,293 2,280 7,100 2,347 1,515 2,977 12,864 3,700 18,090 1,500 1,610 1,766 - 5,999 1,350 10,049 2,005 2,057 1,331 |
||
| 100,706 | ||
| 114,578 |
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