Charity number: 803740 **CELESTIAL CHURCH OF CHRIST EDWARD STREET PARISH** **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 page 1 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| page 2 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. page 3 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. page 4 **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** page 5 Celestial Church of Christ Edward Street Parish ## INDEPENDENT EXAMINER'S STATEMENT 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. page 6 Celestial Church of Christ Edward Street Parish ## INDEPENDENT EXAMINER'S STATEMENT 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 page 7 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 page 8 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 page 9 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% page 10 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| page 11 Celestial Church of Christ Edward Street Parish 6. 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| page 12 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| page 13 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| page 14