2022-03-31-accounts - Grace Christian Centre

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GRACE CHRISTIAN CENTRE

(Registered Charity Number 1048735)

FINANCIAL STATEMENTS OF ACCOUNT AND ANNUAL REPORT

2021/22

4 January 2023

ANNUAL REPORT OF GRACE CHRISTIAN CENTRE 2021/22 ACHIEVEMENT IN RELATION TO ITS OBJECTIVES

The church has achieved all its related objectives for the financial year ended 31 March 2022.

The Advancement of Christianity

Our evangelism outreach consisted of regularly organising events to preach the gospel and show love to our local community. As a result of this people in the community have come to know Jesus Christ as their Lord and Savior. We are financially supporting mission work in East Africa reaching out to orphans, widows and the needy in five rural communities in Uganda.

We counsel members of the church who encounter various emotional, physical and spiritual problems. We organised special programs for church members to provide spiritual upliftment and nurture.

The Relief of Poverty, Sickness and Distress of those in need by virtue of their social and or economic circumstances

We have helped single mothers out of financial difficulties to pay for childcare and nursery fees. Low income and unemployed members are also regularly financially supported in various areas such as subsistence, travel and accommodation.

The Advancement of Education of Young Persons

Our missions program enables us to financially sponsor several children and young people in their primary and vocational education.

GRACE CHRISTIAN CENTRE NOTES TO THE FINANCIAL STATEMENT FOR THE YEAR ENDED 31 MARCH 2022

1. ACCOUNTING PRINCIPLES

These financial statements have been prepared under the historical cost convention, on an accrual basis and in accordance with applicable accounting standards and the Charities Statement of Recommended Practice.

2. FIXED ASSETS

Fixed assets are valued at the lower of cost or net realizable value and are depreciated at a rate of 10% over its estimated useful life.

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COST Cost at Additions/Disposa Cost at
1/04/21 ls 31/03/22
Musical 1,500 - 1,500
Equipment
Furniture & 4,539 - 4,539
Equipment
TOTAL 6,039 - 6,039
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DEPRECIATION Depreciation at Depreciation Deprecation at
1/04/21 during the year 31/03/22
Musical 350 150 500
Equipment
Furniture & 4163 454 4,617
Equipment
TOTAL 4,513 604 5,117
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Net Book Value at 31 March 2022 £922

3. GENERAL PURPOSE FUND

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2021/22 2020/21
At 1 April 2021 £(23,277) (23,980)
Excess of Expenditure (317) 703
over Income
At 31 [st] March 2022 £(23,594) £(23,277)
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GRACE CHRISTIAN CENTRE BALANCE SHEET AS AT 31 MARCH 2022

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2022 2021
Note £ £
Fixed Assets 2 922 1,526
Bank 768 1,296
Total Assets 1,690 2,822
Less Creditors (falling due (23,594) (26,099)
within one year)
Net Liabilities (23,277)
Total Net Liabilities £(23,594) £(23,277)
Financed by
General Purpose Fund £(23,594) £(23,277)
3
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GRACE CHRISTIAN CENTRE INCOME AND EXPENDITURE FOR THE YEAR ENDED 31 MARCH 2022

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2022 2021
£ £
Tithes and Offering 36,722 33,227
Donations/Missions 15,720 12,600
TOTAL INCOME 52,442 45,827
EXPENDITURE
-
Charity and Donations 1,795
Rent 3,360 -
Bank Charges 23 -
Missions 48,295 42,596
Disclosure Barring Service - 129
Depreciation 604 604
Musicians 250 -
Insurance 227 -
TOTAL EXPENDITURE 52,759 45,124
(Excess of Expenditure over
Income) £(317) £703
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