Charity no. 1048608
GLORIOUS INHERITANCE MISSION (WORLDWIDE)
REPORT AND FINANCIAL STATEMENTS
Year ended 30th June 2025
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GLORIOUS INHERITANCE MISSION (WORLDWIDE) Report of the trustees for the year ended 30th June 2025
The trustees present their annual report and financial statements of the charity for the year ended 30th June 2025
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's Constitution, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of recommended Practice applicable to charities.
Objectives and activities for the public benefit.
The purposes of the charity continue to be the advancement of the Christian religion and for the advancement of education in accordance with the Articles of Faith.
The trustees confirm that they have referred to the Charity Commission's guidance on public benefit and, in particular, the specific guidance on charities for the advancement of religion.
The trustees achieve this by separate strategies aimed at those who do not have a relationship with Jesus Christ and those who have already accepted Jesus Christ as their Lord and Saviour.
Non believers are targeted by various outreach activities based either in the local community or further afield.
For believers, the trustees endeavour to create an environment where a person's faith can be increased and matured by access to:
Regular biblical teaching Praise. Worship and Prayer meetings Provision of pastoral work Visiting and praying for the sick and infirmed
A review of our achievements and performance
2024 -2025: A year of Overflowing and Empowerment
Youth Empowerment and Community Outreach
GIM launched the Inherited Youth Ministry, empowering young adults to reach their peers and serve the wider community.
Delivered online Safety Awareness schemes for all generations, addressing digital threats such as scams and misinformation.
Inherited youth induced "Elect" a non profit clothing brand promoting creativity, purpose and social responsibility.
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GLORIOUS INHERITANCE MISSION (WORLDWIDE) Report of the trustees for the year ended 30th June 2025
A review of our achievements and performance (contd)
Health Promotion and Social Support
Continued health awareness campaigns, including mental health education and support for common ailments. Organised and executed our own sports programs to boost members' health and wellbeing.
Strengthened partnership with the Haringey Sickle Cell and Thalassaemia Project, raising awareness and offering support.
Provided compassionate aid to individuals facing financial hardship, including one-time financial assistance where needed.
Education, International Outreach and Poverty Alleviation
Supported the establishment and registration of Glorious Impact Bible College in Ghana as an educational centre - currently seeking its own accreditation.
Celebrated the graduation of 8 ministers and church workers with certificates and diplomas in Biblical Studies.
Welcomed 12 new students into the college, continuing the legacy of spiritual leadership. Extended support to orphanages in Ghana through donations of clothing and food supplies.
2025-2026 Vision for Deeper Impact
Youth Development and Global Preparation
Continue equipping youth through inherited Youth Ministry Christian living, life in the UK and beyond.
Expand outreach to local youth, fostering leadership, resilience and spiritual growth.
Health Advocacy and Charitable Collaboration
Deepen health awareness initiatives by engaging professional expertise to promote national well-being programs.
Sustain collaboration with the Haringey Sickle Call and Thalassaemia Project
Respond to calls for support from other charities, reinforcing GIM's role as a compassionate partner.
Biblical Education and Poverty Alleviation
Enhance the reach and impact of Glorious Impact Bible College, training Christian workers to serve with excellence.
Align theological education with practical poverty alleviation schemes in Ghana, promoting holistic transformation.
Closing Note
GIM remains committed to nurturing spiritual leadership, empowering youth and serving communities both locally and globally. Our journey continues - with faith, vision and impact.
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GLORIOUS INHERITANCE MISSION (WORLDWIDE) Report of the trustees for the year ended 30th June 2025
Reserves Policy
The trustees aim to maintain free reserves in unrestricted funds at a level which equates to approximately three months of unrestricted charitable expenditure. The trustees consider that this level will provide sufficient funds to enable financial commitments to be met and also give them enough time to review and revise ongoing commitments should a long term decrease in income be recognised.
The level of unrestricted reserves as at 30th June 2025 was £190,532 after allowing for funds tied up in tangible fixed assets.
Three months average unrestricted expenditure totals £17,500.
The current level of reserves is therefore adequate as per the above policy.
Financial review
The work of the charity is entirely dependent on the voluntary offerings of people attending the various meetings that have taken place during the year.
The income of the year increased by 16% to £ 91,360 (2024 = £78,906). This includes amounts received under the Gift Aid system.
Risk management
The main risks faced by the trust are as follows:
a. Financial
This includes a serious decrease in the amount of income received and thereby causing the charity to be unable to meet its financial commitments. This has been mitigated by the charity receiving regular up to date financial information to enable the trustees to plan accordingly.
b. Reputational
In dealing with reputational risk, we communicate with all departments, the young, the old and the children with regard to the reputation of the charity. We ensure that there are strong and consistent enforcement of controls on governance and ministerial and legal compliance laid down by the Charity Commission. The ministerial team ensures that any reputational threats are monitored. The trustees also ensure that ethical practices are maintained in all that we do.
We ensure that we establish a continual updating of a crisis management plan with the establishment of a team to supervise this.
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GLORIOUS INHERITANCE MISSION (WORLDWIDE) Report of the trustees for the year ended 30th June 2025
Structure, governance and management
The organization is a registered charity, number 1048608 and is constituted under a Constitution adopted on 16th July 1995.
The charity does not raise funds from the public and seeks to continue its charitable works through the careful stewardship of the donations from members.
New trustees are appointed by the existing trustees.
Formal meetings of the trustees take place every two years with regular electronic communications between meetings. Regular discussions include the way forward, the level of reserves, risk management policies etc.
The day to day leading of the charity is delegated to the resident Bishop.
New trustees are chosen from the membership after showing continuous integrity and faithfulness to the charity. Before accepting the position, the potential trustee is given copies of the Constitution, previous financial statements and meets with the existing trustees for an overview of the plans of the charity for the future. Any training requests are quantified and arranged as necessary.
Key management personnel remuneration.
The trustees consider the board of trustees and Bishop Ayensu as comprising the key management personnel of the charity in charge of directing and controlling the charity and running and operating the charity on a day to day basis. All trustees give their time freely and no trustee remuneration was paid in the year. Related party transactions are shown in Note 7.
Trustees are required to disclose all relevant interests and are required to withdraw from decisions where a conflict of interest arises.
The salary of the Bishop is reviewed annually by the board of trustees.
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GLORIOUS INHERITANCE MISSION (WORLDWIDE) Report of the trustees for the year ended 30th June 2025
Reference and administrative information
Trustees
Mr Godfrey Aidoo Ms Grace Tsipotey Rev Dr Bishop M Hutton Wood Dr Esther Ayensu Ms Nancy Ababio Bishop Bishop K Ayensu Principal office PO Box 25623 London N17 6ZH Independent Examiner
George Kitcher FCA Regus 15th Floor, Brunel House Cardiff CF24 0EB Bankers Barclays Bank Plc 2 Victoria Street London SW1N 0ND
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GLORIOUS INHERITANCE MISSION (WORLDWIDE) Report of the trustees for the year ended 30th June 2025
Trustees' responsibilities in relation to the financial statements
The charity trustees are responsible for preparing a trustees' annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice)
The law applicable to charities in England and Wales requires the charity trustees to prepare financial statements in each year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing the financial statements, the trustees 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 applicable Charities SORP;
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- make judgments and estimates that are reasonable and prudent;
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- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations and the provisions of the Constitution. They are also responsible for safeguarding the assets of the charity and taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Approved by the trustees on 1st September 2025 and signed on their behalf by:
Grace Tsipotey - Deputy Chair of Trustees
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Independent Examiner's Report to the Trustees of:
GLORIOUS INHERITANCE MISSION (WORLDWIDE)
I report on the accounts for the charity for the year ended 30th June 2025 which are set out on pages 9 to 15.
Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts. The charity 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.
It is my responsibility to:
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examine the accounts under section 145 of the Charities Act
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- follow the procedures laid down in the General Directions given by the Charity Commission under section 145(5)(b) of the Charities Act, and
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- to state whether particular matters have come to my attention
Basis of independent examiner's report
My examination was carried out in accordance with the General Direction given by the Charity Commissioners. 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 on any such matters. The procedures undertaken do not provide all the evidence that would be required by 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 material matters have come to my attention which gives me cause to believe that in any material respect:
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the accounting records were not kept in accordance with section 130 of the Charities Act; or
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the accounts did not accord with the accounting records; or
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the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a "true and fair" view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
George Kitcher
George Kitcher FCA Chartered Accountant Regus, 15th Floor, Brunel House Date 18th September 2025 Cardiff CF24 0EB Page 8
GLORIOUS INHERITANCE MISSION (WORLDWIDE) Statement of Financial Activities Year ending 30th June 2025
| Restd | Un restd | Total | Total | ||
|---|---|---|---|---|---|
| Note | Funds | Funds | Funds | Funds | |
| 2025 | 2024 | ||||
| £ | £ | £ | £ | ||
| Income | 1 | ||||
| Donations | 3 | 0 | 76,691 | 76,691 | 64,325 |
| Investment Income | 4 | 1,788 | 0 | 1,788 | 1,434 |
| Rental Income | 0 | 12,881 | 12,881 | 13,147 | |
| TOTAL INCOME | 1,788 | 89,572 | 91,360 | 78,906 | |
| Expenditure | 1 | ||||
| Expenditure on charitable | |||||
| activities | 5 | 0 | 69,235 | 69,235 | 57,773 |
| TOTAL EXPENDITURE | 0 | 69,235 | 69,235 | 57,773 | |
| Net incoming/(expenditure) | 1,788 | 20,337 | 22,125 | 21,133 | |
| Reconciliation of funds | |||||
| Total funds brought forward | 6,941 | 308,820 | 315,761 | 294,628 | |
| Total funds carried forward | 8,729 | 329,157 | 337,886 | 315,761 |
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GLORIOUS INHERITANCE MISSION (WORLDWIDE) Balance Sheet as at 30th June 2025
| Note | Total | Prior | ||
|---|---|---|---|---|
| Funds | Year | |||
| £ | £ | |||
| Fixed assets: | 1 | |||
| Tangible assets | 8 | 138,625 | 144,037 | |
| Total fixed assets | 138,625 | 144,037 | ||
| Current assets: | ||||
| Debtors | 12,272 | 12,592 | ||
| Cash at bank and in hand | 191,981 | 160,227 | ||
| Total current assets | 9 | 204,253 | 172,819 | |
| Liabilities: | ||||
| Creditors falling due within | ||||
| one year | 10 | -4,992 | -1,095 | |
| Net Current assets | 199,261 | 171,724 | ||
| Net assets | 337,886 | 315,761 | ||
| The funds of the charity: | 1, 11 | |||
| Unrestricted income funds | 329,157 | 308,820 | ||
| Restricted income funds | 8,729 | 6,941 | ||
| Total charity funds | 337,886 | 315,761 |
The notes at pages 11 to 15 form part of these accounts
Approved by the trustees on 1st September 2025 and signed on their behalf by:
Grace Tsipotey - Deputy Chair of Trustees
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GLORIOUS INHERITANCE MISSION (WORLDWIDE) Notes to the accounts
1. Accounting Policies
(a) Basis of preparation and assessment of going concern
The accounts (financial statements) have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities, the Charities Act 2011 and the Governing Document.
The accounts have been prepared under the historic cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.
(b) Funds structure
Restricted Funds
The restricted fund consists of interest added to the bank accounts during the year and is used to send donations to Ghana.
The unrestricted funds are available to be spent on the furthering of the objects of the charity as seen fit and proper by the trustees.
- (c) Income recognition
All income is recognised once the charity has entitlement to the income, there is sufficient certainty or receipt and so it is probable that the income will be received, and the amount of income receivable can be measured reliably.
Donations from members and other donations are recognised when received.
Income in respect of HMRC Gift aid claims is recognised when the claim has been submitted to HMRC.
Interest on funds held on deposit is included upon notification of the interest payable by the Bank.
(d) Expenditure recognition
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured quickly.
All expenditure is recognised on an accruals basis.
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GLORIOUS INHERITANCE MISSION (WORLDWIDE) Notes to the accounts
(e) Irrecoverable VAT
Irrecoverable VAT is charged against the expenditure head for which it was incurred.
(f) Governance costs
Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulation and good practice. These costs include the independent examination and any costs incurred relating to trustee board meetings.
(h) Charitable activities
The expenditure on charitable activities includes the governance costs and is shown in Note 5.
(i) Tangible fixed assets and depreciation
All assets costing more than £500 are capitalised and valued at historic cost. Depreciation is charged from the year of acquisition at rate of 25% pa on a reducing value basis for equipment and motor vehicles and 2% on property on a straight line basis,
(j) Pensions
At the current time the charity does not provide any pension provisions for its staff.
2. Related party transactions and trustees' expenses and remuneration
The trustees all give freely of their time and expertise without any form of remuneration or other benefit in cash or kind. There are entitled to claim any expenses. The amount of expenses paid during the year was £nil ( 2024 = £nil)
| 3. Income | 2025 | 2024 |
|---|---|---|
| £ | £ | |
| Donations | 65,284 | 55,250 |
| Gift Aid | 11,407 | 9,075 |
| Rental Income | 12,881 | 13,147 |
| 89,572 | 77,472 | |
| 4. Investment Income | ||
| 2025 | 2024 | |
| £ | £ | |
| Interest on cash deposits | 1,788 | 1,434 |
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GLORIOUS INHERITANCE MISSION (WORLDWIDE) Notes to the accounts
| 5.Expenditure on charitable activities | 2025 | 2024 |
|---|---|---|
| £ | £ | |
| Donations | 10,649 | 10,662 |
| Subscription | 200 | 200 |
| Wages | 0 | 0 |
| Hall Hire | 19,045 | 12,400 |
| Administration and Ministry | 3,307 | 4,456 |
| Bank and Card Charges | 0 | 140 |
| Insurance | 644 | 711 |
| Telephone, Internet, website | 3,171 | 3,034 |
| Depreciation | 6,511 | 7,315 |
| Cleaning/PPE | 0 | 0 |
| Repairs | 2,625 | 2,299 |
| Enfield Expenses | 1,910 | 1,340 |
| Resources | 0 | 0 |
| Professional Fees | 965 | 925 |
| Payroll Preparation | 0 | 60 |
| Travel Expenses | 2,611 | 0 |
| Property Expenses | 9,700 | 6,953 |
| Sundry Expenses | 150 | 0 |
| Youth and Evangelism | 7,747 | 7,278 |
| TOTAL | 69,235 | 57,773 |
| 6. Governance costs | 2025 | 2024 |
| £ | £ | |
| Independent Examination | 965 | 925 |
| Costs of meetings | 0 | 0 |
| 925 | ||
| 7. Analysis of staff costs | 2025 | 2024 |
| £ | £ | |
| Salaries and wages | 0 | 0 |
| Social security costs | 0 | 0 |
| 0 | 0 |
The charity did not have any full or part time employees during the year.
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GLORIOUS INHERITANCE MISSION (WORLDWIDE) Notes to the accounts
7. Analysis of staff costs (contd)
Appreciation gifts were made to Bishop Ayensu of £2,000 (2024 = £4,500 and Pastor Gifty Ayensu of £1,000 (2024 = £2,500).
8. Tangible fixed assets
| 8. Tangible fixed assets | Freehold | |||
| Vehicle | **Equipment ** | Property | TOTAL | |
| £ | £ | £ | £ | |
| Cost | ||||
| At 1st July 2024 | 10,000 | 66,474 | 152,785 | 229,259 |
| Additions | 0 | 1,099 | 0 | 1,099 |
| Disposals | 0 | 0 | 0 | 0 |
| At 30th June 2025 | 10,000 | 67,573 | 152,785 | 230,358 |
| Depreciation | ||||
| At 1st July 2024 | 8,666 | 55,115 | 21,441 | 85,222 |
| Charge for the year | 334 | 3,121 | 3,056 | 6,511 |
| Eliminated on disposals | 0 | 0 | 0 | 0 |
| At 30th June 2025 | 9,000 | 58,236 | 24,497 | 91,733 |
| Net book value | ||||
| At 30th June 2025 | 1,000 | 9,337 | 128,288 | 138,625 |
| At 30th June 2024 | 1,334 | 11,359 | 131,344 | 144,037 |
| 9. Analysis of current assets | 2025 | 2024 | ||
| £ | £ | |||
| Debtors and Prepayments | 865 | 3,517 | ||
| Gift Aid repayment | 11,407 | 9,075 | ||
| Cash at bank | 191,981 | 160,227 | ||
| 204,253 | 172,819 | |||
| 10. Analysis of current liabilities | ||||
| 2025 | 2024 | |||
| £ | £ | |||
| Creditors under 1 year | 4,992 | 1,095 |
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GLORIOUS INHERITANCE MISSION (WORLDWIDE) Notes to the accounts
11. Restricted Funds
| ed Funds | |||
|---|---|---|---|
| TOTAL | RESTD | U/RESTD | |
| £ | £ | £ | |
| Fixed Assets | 138,625 | 0 | 138,625 |
| Current assets | 204,253 | 8,729 | 195,524 |
| Current Liabilities | -4,992 | 0 | -4,992 |
| 337,886 | 8,729 | 329,157 |
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