Registered number: NI072707
CHRIST THE REDEEMER INTERNATIONAL MINISTRIES
DIRECTORS' REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024
Christ The Redeemer International Ministries Directors' Report and Unaudited Financial Statements For The Year Ended 31 May 2024
| Contents | |
|---|---|
| Page | |
| Company Information | 1 |
| Directors' Report | 2-4 |
| Independent Examiner’s Report | 5 |
| Accountants' Report | 6 |
| Income and ExpenditureAccount | 7 |
| Balance Sheet | 8 |
| Notes to the Financial Statements | 9-12 |
Christ The Redeemer International Ministries Company Information For The Year Ended 31 May 2024
| Directors | Mr James Baccay |
|---|---|
| Ms Ingrid Valdez | |
| Mr Cyril Abatayo | |
| Mr Deo Valdez | |
| Ms Felomina Serrano | |
| Mr Edizon Sandoval | |
| Secretary | Mr Anthony Gagarin |
| Company Number | NI072707 |
| Charity Ref No. | XT 27903 |
| Registered Office | Care Of Sheryl Gagarin 50 Knockleigh Walk |
| Greenisland | |
| Carrickfergus | |
| Antrim | |
| BT38 8UX | |
| Accountants | Proactive Chartered Accountants Limited |
| Chartered Accountants | |
| Opus House | |
| 137 York Road | |
| Belfast | |
| BT15 3GZ |
Page 1
Christ The Redeemer International Ministries Company No. NI072707 Directors’ Report For The Year Ended 31 May 2024
The directors present their report with the financial statements of the company for the year ended 31 May 2024.
Principal Activity
The principal activity of the company in the year under review was that of advancing the Christian faith in accordance with the Statement of Beliefs and catering for the spiritual needs of members by preaching and teaching the gospel of our Saviour Lord Jesus Christ. Our church exists to love God and to love people. This is the purpose of life and the purpose of the church.
Charitable Status
Christ The Redeemer International Ministries (previously known as The Living Hope Christian Church) became a registered company on 22 May 2009. The Directors subsequently applied to Her Majesty's Revenue and Customs to become a Charity and were awarded Charitable Status from incorporation.
Review of Operations
The results for the year, financial position of the company, and recommended transfers to reserves are as shown in the annexed financial statements.
Directors
The directors who held office during the year were as follows:
Mr. Deo Valdez (Pastor) Ms. Felomina Serrano
Mr. Edizon Sandoval Mr. Cyril Abatayo Mr. James Baccay Mrs. Ingrid Valdez (Deputy Pastor)
The company is limited by guarantee and does not have a share capital.
Each of the members have agreed to contribute such amount (not exceeding £1.00) in the event of a compulsory winding up.
Public Benefit
The main objects of our Church are:
Purpose: To Love God And To Love People Mission: To Win Souls And Make Disciples Vision: To Become 4xd Acts Dna Strategic Disciple Making Church Goal: To Equip And Multiply 4xdisciples To Reach The Lost Through Cell Groups Multiplication. Quality Goal: To Become A Mission Focus High-Velocity Church Quantity Goal: To Have 7,000 New Disciples In Seven (7) Years Strategy: 4e's = Evangelise, Edify, Equip, Engage Process: C.A.R.E Group, Cgl Training, Pepsol
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Christ The Redeemer International Ministries Company No. NI072707 Directors’ Report For The Year Ended 31 May 2024
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To advance the Christian faith (in accordance with our Statement of Beliefs) in such ways and in such parts of the UK or the world as the Trustees from time to time may think fit
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To relieve sickness and financial hardship and to promote and preserve good health by the provision of funds, goods or services of any kind, including through the provision of counselling and support in such parts of the UK or the world as the Trustees from time to time may think fit
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To advance education in such ways and in such parts of the UK or the world as the Trustees from time to time may think fit
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To cater for the spiritual needs of the members in N Ireland by preaching and teaching the gospel of our Saviour Lord Jesus Christ
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To take care of members for their soul, spirit, and body, building and equipping them for the Lord Jesus Christ
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To act and respond for the great commission of our Saviour Lord Jesus Christ in the lifestyle of the members by making disciples and saving the lost
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To prepare, organize and manage public and private worship services, prayer services and Bible study services
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To perform in public or private: Water Baptism, The Lord Supper, Marriage Services, Child Dedication and funerals, to minister prayer for all believers, pastoral care and pre and post marital counselling
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To receive and properly administer tithing, offerings, gifts, pledges, donations and fundraising events
Review of Progress and Achievements
During the year we have collected donations through tithes, offerings and pledges from our Church members at services and continued to develop many programs including regular teaching and educational talks, conferences, leadership trainings, 4XD discipleship schooling and events whilst continuing to provide appropriate gifts and donations to those in need.
Our beliefs are incorporated in all that we do, and these are highlighted through:
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The Scriptures Inspired the One True God
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The Deity of The Lord Jesus
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The Fall of Man
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The Salvation of Man
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Ordinance of The Church
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Baptism in The Holy Spirit
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The Evidence of The Baptism in The Holy Spirit Sanctification
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The Church
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The Ministry
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Divine Healing
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The Blessed Hope
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The Millennial Reign of Christ
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The Final Judgement
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New Heavens and Earth
Page 3
Christ The Redeemer International Ministries Company No. NI072707 Directors’ Report For The Year Ended 31 May 2024
Statement of Directors' Responsibilities
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the directors are required to:
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select suitable accounting policies and then apply them consistently.
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards have been followed, subject to any material
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departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume
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that the charitable company will continue in operation.
The directors are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and which enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
In so far as the Directors are aware:
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There is no relevant information of which the Charity's Independent Examiner is unaware; and
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The Directors have taken all steps that they ought to have taken to make themselves aware of any
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relevant information and to establish that the Independent Examiner is aware of that information.
Accounting Policy
The Companies Act 2006 also determines the level of scrutiny required. Since our gross income is less than £250,000, we may choose to have an independent examiner rather than a registered auditor examine the annual accounts - we have chosen to appoint an Independent Examiner rather than an Auditor.
The Director’s report is also prepared having taken advantage of the small companies’ exemption of the Companies Act 2006
By Order of the board of Directors
Mr. Deo Valdez Director
28/02/2025
Page 4
Christ The Redeemer International Ministries Independent Examiner’s Report For The Year Ended 31 May 2024
I report on the accounts of the Trust for the year ended 31 May 2024.
Respective responsibilities of charity trustees and examiner
As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the Charities Act (Northern Ireland) 2008. It is my responsibility to:
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examine the accounts under section 65 of the Charities Act
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follow the procedures laid down in the general directions given by the Commission under section 65(9)(b) of the Charities Act
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state whether particular matters have come to my attention
Basis of independent examiner’s report
I have examined your charity accounts as required under section 65 of the Charities Act and my examination was carried out in accordance with the general directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the Charities Act.
My examination included a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also included consideration of any unusual items or disclosures in the accounts and seeking explanations from you as charity trustees concerning any such matters.
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My role is to state whether any material matters have come to my attention giving me cause to believe:
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That accounting records were not kept in accordance with section 63 of the Charities Act
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That the accounts do not accord with those accounting records
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That the accounts do not comply with the accounting requirements of the Charities Act
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That there is further information needed for a proper understanding of the accounts to be reached
Independent examiner’s statement
I have completed my examination and have no concerns in respect of the matters (1) to (4) listed above and, in connection with following the directions of the Charity Commission for Northern Ireland, I have found no matters that require drawing to your attention.
Jon M Dickinson (FCCA)
Association of Chartered Certified Accountants
137 York Road Belfast BT15 3GZ
28/02/2025
Page 5
Christ The Redeemer International Ministries Accountants’ Report For The Year Ended 31 May 2024
In accordance with the engagement letter dated 1[st] August 2020, and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company from the accounting records and information and explanations you have given to us.
This report is made to the directors in accordance with the terms of our engagement. Our work has been undertaken to prepare for approval by the directors the financial statements that we have been engaged to compile, to report to the directors that we have done so, and to state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's directors for our work or for this report.
You have acknowledged on the balance sheet as at year ended 31 May 2024 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year.
We have not been instructed to carry out an audit of the financial statements. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Jon M Dickinson FCCA
Proactive Chartered Accountants Limited
Chartered Accountants
Legal & Financial House York Road Belfast Antrim BT15 3GZ
28/02/2025
Page 6
Christ The Redeemer International Ministries Income and Expenditure Account For The Year Ended 31 May 2024
| Income Notes Donations 1 Charitable Activities Grants Received Interest Income Total Income 2 Expenditure Charitable Activities 3 Total resources Expended Net Income before Transfers 5 Transfers Between Funds 6 Net Income for the year Opening funds at 1 June 2023 7 Closing funds at 31 May 2024 7 |
Restricted £ - - - - - - - - - - - - |
Unrestricted £ 128,143 - - 24 128,167 (127,009) (127,009) 1,158 - 1,158 165,396 166,554 |
Total 2024 £ 128,143 - - 24 128,167 (127,009) (127,009) 1,158 - 1,158 165,396 **166,554 ** |
Total 2023 £ 159,342 - - 372 |
|---|---|---|---|---|
| 159,714 | ||||
| (118,864) | ||||
| (118,864) | ||||
| 40,850 - |
||||
| 40,850 124,546 |
||||
| 165,396 |
The notes on pages 9-12 form part of these financial statements.
Page 7
Christ The Redeemer International Ministries Balance Sheet As at 31 May 2024
| Notes FIXED ASSETS Tangible Assets 10 CURRENT ASSETS Cash at bank and in hand Creditors: Amounts Falling Due Within One Year 9 NET CURRENT ASSETS (LIABILITIES) TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS General Funds TOTAL FUNDS |
£ 4,609 |
2024 £ 162.694 |
£ 2,798 |
2023 £ 163,622 163,622 1,774 165,396 165,396 165,396 165,396 |
|---|---|---|---|---|
| 162,694 3,860 |
||||
| 4,609 (749) |
2,798 (1,024) |
|||
| 166,554 | ||||
| 166,554 | ||||
| 166,554 | ||||
| 166,554 |
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
On behalf of the board
Mr Deo Valdez Director
28/02/2025
The notes on pages 9 to 12 form part of these financial statements.
Page 8
Christ The Redeemer International Ministries Notes to the Financial Statements For The Year Ended 31 May 2024
1. Accounting Policies
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1.1 The financial statements have been prepared in accordance with applicable accounting standards and follow the recommendations in Statement of Recommended Practice: Accounting by Charities.
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1.2 Voluntary income received by way of donations and gifts to the company is included in full in the Profit and Loss Account and the Statement of Financial Activities when received. Intangible income is not included unless it represents goods or services which would have otherwise been purchased.
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1.3 Revenue grants are credited to incoming resources on the earlier date of when they are received or when they are receivable, unless they relate to a specified future period, in which case they are deferred.
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1.4 Grants for the purchase of fixed assets are credited to restricted incoming resources when receivable. Depreciation on the fixed assets purchased with such grants is charged against the restricted fund.
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1.5 Restricted fund are to be used for specified purposes as laid down by the donor. Expenditure which meets criteria is identified to the fund, together with a fair allocation of overheads and support costs.
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1.6 Unrestricted funds are donations and other incoming resources received or generated for the charitable purposes.
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1.7 Designated funds are unrestricted funds earmarked by the directors for particular purposes.
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1.8 Staff costs and overhead expenses are allocated to activities on the basis of staff time spent on those activities.
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1.9 Fixed assets are stated at original cost or valuation less capital grants and donations received or receivable.
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1.10 Depreciation: The cost of office equipment is written off in the year in which the expenditure is incurred.
2. Income
Donations & Gifts
| . Income Donations & Gifts |
||
|---|---|---|
| Tithe/Offerings Total |
2024 £ 128,143 128,143 |
2023 £ 159,342 |
| 159,342 |
Page 9
Christ The Redeemer International Ministries Notes to the Financial Statements For The Year Ended 31 May 2024
| 3. Expenditure Charitable activities Restricted Unrestricted £ £ Charitable Activities Salaries - 41,586 Love Gifts - 42,314 Events/Church Activities - 9,064 Food - 11,707 Travel & Transport - 5,627 Rent/Room Hire - - Equip &Office Supplies - 5,614 Telephone - 1,476 Insurance - 819 Electric - 2,381 Professional Fees - 2,153 Computer Software and maintenance - 80 Other - 4,188 - 127,009 4. Staff Costs and Numbers Salary and Social Security Costs Pension Costs Total The average number of employees during the year was as follows: Average number employed |
Total 2024 £ 41,586 42,314 9,064 11,707 5,627 - 5,614 1,476 819 2,381 2,153 80 4,188 127,009 2024 £ 40,736 850 41,586 2024 7 7 |
Total 2023 £ 42,830 36,025 6,142 7,015 3,170 6,080 9,552 904 849 1,350 1,500 830 2,617 |
|
|---|---|---|---|
| 118,864 | |||
| 2023 £ 41,653 1,177 |
|||
| 42,830 | |||
| 2023 7 |
|||
| 7 |
Other payments including an honorarium, transport costs and ‘Love Gifts’ have been paid to Pastor Deo who is an employee and director.
Page 10
Christ The Redeemer International Ministries Notes to the Financial Statements (continued) For The Year Ended 31 May 2024
5. Net Income before Transfers
This is stated after charging:
| Directors' Emoluments (including pension contributions) Depreciation 6. Transfers between Funds Transfer to Restricted Funds Transfer to Designated Funds Transfer from Designated Funds Transfer from Unrestricted Funds 7. Funds Restricted Designated Unrestricted 8. Bank Bank and Cash Donations received after year end 9. Creditors Amounts falling due within one year Other taxes and social security |
2024 £ 41,586 928 2024 £ - - - - 2024 £ - - 166,554 166,554 2024 £ 4,609 - 4,609 2024 £ 749 749 |
2023 £ 42,830 601 |
|---|---|---|
| 2023 £ - - - |
||
| - | ||
| 2023 £ - - 165,396 |
||
| 165,396 | ||
| 2023 £ 2,798 - |
||
| 2,798 | ||
| 2023 £ 1,024 1,024 |
Page 11
Christ The Redeemer International Ministries Notes to the Financial Statements (continued) For The Year Ended 31 May 2024
10. Tangible Assets
| 10. Tangible Assets | |||||
|---|---|---|---|---|---|
| Land & Property |
|||||
| Freehold | Fixtures & | Computer | Total | ||
| Fittings | Equipment | ||||
| £ | £ | £ | £ | ||
| Cost | |||||
| As at 1 June 2023 | 160,000 | 1,140 | 3499 |
164,639 | |
| As at 31 May2024 | 160,000 | 1,140 | 3,499 |
164,639 | |
| **Depreciation ** | |||||
| As at 1 June 2023 | - | 38 | 979 |
1017 | |
| Provided duringtheperiod | - | 228 | 700 |
928 | |
| As at 31 May2024 | - | 266 | 1,679 |
1,945 | |
| Net Book Value | |||||
| As at 31 May2024 | 160,000 | 874 | 1,820 |
162,694 | |
| As at 1 June 2023 | 160,000 | 1,102 | 2,520 |
163,622 | |
| 11. Income and Expenditure Account | |||||
| Turnover Administrative Expenses Grants Received Other Operating Income Operating Profit Taxation on profit of ordinary activities Retained profit for the Year |
2024 £ - (127,009) (127,009) - 128,167 1,158 - 1,158 |
2023 £ - (118,864) (118,864) - 159,714 40,850 - 40,850 |
|||
The company has no recognised gains or losses other than the results for the year as set out above. All activities of the company are classed as continuing.
Page 12