Charity Number: 1034870 CHRIST GOSPEL CHURCH INTERNATIONAL INCOIIqE AND EXPENDITURE STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 CHRIST GOSPEL CHURCH INTERNATIONAL Reports and Accounts Contonts Page Adminislralive Details Independont Examiner's report Trustees Report Statement of Financial Activities Balance Shoet Notes to the Accounts CHRIST GOSPEL CHURCH INTERNATIONAL ADMINISTRATIVE DETAILS OF THE CHARITY AND ITS TRUSTEES Board of Trustees Mrs Tolulope Omorere Mr Joseph Omorere Mr John Adama Principal office address 28-32 Ellingfort Road Hackney London E8 3PA Accountants Nuama & Co Chartered Certified Accountants 102 Mitcham Lane London SW16 6NR Bankers Barclays Bank plc 22 The Mall Slratford London E15 1XJ INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CHRIST GOSPEL CHURCH INTERNATIONAL I report on the aGcounls ol GOSPEL RESTORATION CHURCH for the year ended 31 March 2024, which are sel out below.. Respective responslbilities of trustees and examiner As the charily's Iruslees you are responsible for the preparation of the accounts, you consider that the audit requirement of section 439{2) of the charities Act 1993 (the Acll does not apply.11 is my responsibility to slate, on the basis of procedures ipeeified ol the General Directions given by the Charity Commissioners given under section 43171 (bl of the Acts. whether particular matters have come lo my attention. Basis of Independent examinerfs report fvly examination was carried out in accordance with the General Directions given by the Charity cornmission&rs. An examination includes the review of accounting records kept by the charity and a comparison of the accounts presented with hose records. 11 also includes collsideralion of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such mallers. The procedures undertaken do not provide all the evidence that will be required in an audit, and Consequently I do not express an audit opinion on the view given by the accounts. Independent axaminerfs statement In connection with my examination, no matter has come lo my allenlion.. 1) Which gives me feasonable cause to believe that in any material respect the requirements of Yo keep accounting records in accordance with section 41 of the Acts, and "To prepare accounts which accord with the accounting records and to comply with the accounting requirements of the Act. Have not been met.. 2) To which. in my opinion. attention should drawn in order lo enable a proper understanding of the accounts lo be reached. DATE. e2102120 Nuama & Co Chartered Certified Accounts 102 Milcham Lane London SW166NR CHRIST GOSPEL CHURCH INTERNATIONAL Report of Trustees The trustees prosent their report and accounts for the year ended 31 March 2024 The Trustees have adopted the provisions of the Statement of Recommended Practice (SORPI 'Accounting and Reporting by Charities (Revised 2005) in preparing the annual report and financial statements of the charity. Objective of the charity as laid down by the Trust Deed The Core objects ot the charity continue lo be: To establish churches, ministries and community events To organise conventions, conferences and seminars To carry out missionary activities and To promote festivals, celebrations and exhibitions. REVIEW OF ACTIVITIES AND FUTURE DEVELOPMENTS The statement of financial activities is set out on page 7 of the financial statements. A snapshot of the financial results is set out below.. Income Generation The main source of income is from tithes, offerings and donations from members and from the gift aid system. Investment Policy At present the Trustees have decided to leave all surplus funds in the account with their principal bankers. Fundraising Activities The charity relies solely on contributions from its members and gift aid. The charity does not employ any professional fundraising bodies. Restricted Funds There are no restricted funds operated by the charity. All funds are available for use at the discretion of the Trustees. CHRIST GOSPEL CHURCH INTERNATIONAL Reserves Policy The Trustees have decided to spend as much money as possible on furthering the core objects of the Gharity whilst maintaining sufficient cash funds to ensure the suslainability of the charity. Review of charity activities The charity has continued lo undertake activities in line with its objectives and has seen growth in giving to its work. Governance and Internal Control Appointment of Trustees are done by the existing Trustees with consultation of the view of the church members as to trustworthiness of each person. Risk Assessment The Trustees consider the key operational, financial and stategic risks that may have a bearing on the activies of the charity. Suitable management information is available lo Ihe Trustees on a regular basis to monitor these risks and allow any miligating aGtion to be taken to address them. Trustees, Responsibilities Charity law requires the Trustees to prepare financial statements for each financial year which give true and fair view of the state of affairs of the charity and of its gfinancial activities for the yaer. In prepararing those financial statements, the Trustee5 are require to: 1 select suitable accounting policies and apply them consistantly., 2 make judgements and estimates that are reasonable and prudent- 3 state whether applicable accounting standards and stements of reGommened practice have been followed, subject to any departures disclosed and explained in the rinancial statements- 4 prepare the financial statements on the going concern basis unless it is inappropriate lo assume that the charity will continue in operation. The Trustees are reponsible for keeping accounting and financial records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them lo ensure that the financial statements comploy with the Charities Acts 1993. They are also responsible for safeguading the assests of the charity and hence for taking reasonable steps for the prevention and detection of fruad or other irregularities. The report was approved by the Board on the 30 June 2025 and signed on its behave by Mrs Tolulope Omorere r (yTn r< Trustee Chairperson CHRIST GOSPEL CHURCH INTERNATIONAL STATEMENT OF FINANCIAL ACTIVITIES (INCOME AND EXPENDITURE ACCOUNTS) FOR THE YEAR ENDED 31 MARCH 2024 UNRESTRICTED FUNDS UNRESTRICTED FUNDS 2024 2023 NOTE INCOMING RESOURCES Tithes, gift aid and similar income resources 159,803 138,154 TOTAL INCOMING RESOUCES 159.803 138,154 RESOURCES EXPENDED Charitable activities Governance costs 92.059 55,340 90,167 41,855 TOTAL RESOURCES EXPENDED 147.399 132,022 MOVEMENT IN TOTAL FUNDS FOR THE YEAR- NET INCOME(EXPENDITURE) FOR THE YEAR 12.404 6,132 TOTAL FUNDS AS AT 1 APRIL 2023 51,633 45.501 TOTAL FUNDS AS AT 31 MARCH 2024 64,037 51,633 CHRIST GOSPEL CHURCH INTERNATIONAL BALANCE SHEET AS AT 31 March 2024 Notes 2024 2023 FIXED ASSETS TANGIBLE FIXED ASSETS 1,000 1,000 2,000 2,000 CURRENT ASSETS Deposits and Cash at Bank 63,037 63,037 50,033 50,033 LIABILITIES Creditors.. Amounts falling due within one year 1400) Net current assets 63,037 49,633 TOTAL ASSETS LESS CURRENT LIABILITIES 64,037 51,633 CHARITY FUNDS Unrestricted funds 64,037 51,633 TOTAL FUNDSI(DEFICITS) 64,037 51,633 We approve these accounts which comprise the Receipts & Payments, Statements of Assels & Liabilities and related notes. We acknowledge our responsibility for the accounts. including the appropriateness of the accounting basis as set out in note 1, and for providing all the information and explanations necessary for their compilation. Trustee Dated Trustee Dated On behalf of the Charity CHRIST GOSPEL CHURCH INTERNATIONAL Profit And Loss Account For the year ended 31 March 2024 2024 2023 Income Gift aid Tithe & offerings Total income 29,402 130,401 19,402 118,752 159,803 138,154 Expenses Accountants fees Bookkeeping Books Depreciation Donations Honorarium Insurance Missions Motor expenses Music Rent Repairs & maintenance Stationery and printing Sundry expenses Travel and subsistence Wages and salaries Welfare Total expenditure 400 1,250 301 1,000 16,026 14,581 1,755 10,500 4,526 9,500 20,500 141 5,194 493 8,140 46,268 6,824 400 200 2,505 1,000 15,100 7,057 9,099 12,000 20,500 4,450 5,126 7,105 40,255 7,225 147,399 132,022 Surplusl{deficit) 12,404 6.132 Fund balance blfwd Fund balance clfwd 51.633 64,037 45,501 51,633 CHRIST GOSPEL CHURCH INTERNATIONAL Notes to the financial statements for the year ended 31 March 2024 1 TANGIBLE FIXED ASSETS Furnitue. fitting and equipment Total 2 COST At 1 April 2023 Additions 5,000 5,000 As 31 March 2024 5,000 5,000 DEPRECIATION At 1 April 2023 Charge for the year 3,000 1,000 3,000 1,000 As 31 March 2024 4,000 4,000 NET BOOK VALUE As 31 March 2024 1,000 1.000 As 31 March 2023 4,000 4,000 STATEMENT OF FUNDS BROUGHT FORWARD INCOMING RESOURCES CARRIED RESOURCES EXPENDED FORWARD Unrestricted funds General funds 51,633 51,633 12,404 64,037 159,803 159,803 (147.399) (147,399) 51,633 CHRIST GOSPEL CHURCH INTERNATIONAL Notes to the Accounts for the year ended 31 March 2024 ACCOUNTING POLICIES Basls of accounting The financial slalelemenls are prepared in accordance with applicable accounting standards using the Historical Cost Convention. The financial slaletements reflect the requirements of the revised Slalement of Recommended Practice "Accounting for Charities" ISORPI. The Charity complied with best practice al the lime of preparing these accounts. Tangible Fixed Assets All fixed assets are capilalised. The charge for depreciation is calculated lo write off the cost of the fixed assets over their useful lives on the following bases.. Equipment 200/0 on the reducing balance Motor Vehicles 250/0 on the reducing balance GENERAL These Accounts have been prepared on the receipts and payments basis and in accordance with applicable Accounting Standards and the Charitable SORP. Istalemenl of Recommended Practice on Accounting by Charities). Income Income is accounted for on accruals basis, except for donallons, which are credited when received These represents gifts, donations, lilhes, offerings, pledges, Gift Aid and bank inleresl given lo the Charity during the year. 2 Charitable Donations & Gifts to Missions These represent amounts given lo various indiwduals, organisalions and other charilable trusts. Honorarium to visiting speakers and remillances for missionary work. Expenditure All expenditure is accounted for on an accrua15 basis. Resources expended on charitable activities comprise all the resources applied by the charity in underkating its work lo meet ils charitable objectives. These costs include the direct Costs of the charitable activities with those support costs incurred that enable these activities lo be undertaken. Expenditure on governance costs are the costs incurred by the charity lo operate and to generate the information required for public accountability. Funds The charity's funds are unrestticted and are available for use at the discretion of the Board of Trustee5. Board of Trustees Remuneration and expenses No remuneration directly or indirectly was paid or payable out of the funds to any of the Trustees for their duties as trustees. 10