## **GRACE CHRISTIAN CENTRE** 

**(Registered Charity Number 1048735)** 

## **FINANCIAL STATEMENTS OF ACCOUNT AND ANNUAL REPORT** 

## **2024/25** 

**12 January 2026** 



## **ANNUAL REPORT OF GRACE CHRISTIAN CENTRE 2024/25 ACHIEVEMENT IN RELATION TO ITS OBJECTIVES** 

The church has achieved all its related objectives for the financial year ended 31 March 2025. 

## **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, vocational and university education. 

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## **GRACE CHRISTIAN CENTRE NOTES TO THE FINANCIAL STATEMENT FOR THE YEAR ENDED 31 MARCH 2025** 

## **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 cost or net realizable value and are depreciated at a rate of 10% over its estimated useful life. Most assets have a nil net value on 31 March 2025 and have been fully depreciated. A valuation exercise of assets will be undertaken in the next financial year. 

|**COST**|**Cost at 1/04/24**|**Additions/Disposals**|**Cost at 31/03/25**|
|---|---|---|---|
|Musical<br>Equipment|-|178|178|
|Furniture &<br>Equipment|-|-|-|
|**TOTAL**|**-**|**178**|**178**|



|**DEPRECIATION**|**Depreciation at**<br>**1/04/24**|**Depreciation**<br>**during the year**|**Deprecation at**<br>**31/03/25**|
|---|---|---|---|
|Musical Equipment|-|17|17|
|Furniture &<br>Equipment|-|-|-|
|**TOTAL**|**-**|**17**|**17**|



**Net Book Value on 31 March 2025                                         £ 161** 

## **3. GENERAL PURPOSE FUND** 

|||**2024/25**||**2023/24**|
|---|---|---|---|---|
|At 1 April 2024||(25,520)||(24,296)|
|Excess of Expenditure over<br>Income||(885)||(1,224)|
|At 31stMarch 2025||**£(26,405)**||**£(25,520)**|



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## **GRACE CHRISTIAN CENTRE BALANCE SHEET AS AT 31 MARCH 2025** 

||**Note**||**2025**<br>**£**||**2024**<br>**£**|
|---|---|---|---|---|---|
|Fixed Assets|**2**||161||-|
|Bank|||22||236|
|**Total Assets**|||**183**||**236**|
|||||||
|Less creditors|||(26,588)||(25,756)|
|||||||
|**Total Net Liabilities**|||**£(26,405)**||**£(25,520)**|
|||||||
|**Financed by General Purpose**<br>**Fund**|**3**||**£(26,405)**||**£(25,520**|



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## **GRACE CHRISTIAN CENTRE INCOME AND EXPENDITURE FOR THE YEAR ENDED 31 MARCH 2025** 

||**2025**<br>**£**|**2025**<br>**£**|**2024**<br>**£**|**2024**<br>**£**|
|---|---|---|---|---|
|Tithes and offering|39,236||36,803||
||||||
|**TOTAL INCOME**|**£39,236**||**£36,803**||
||||||
|**EXPENDITURE**|||||
|Rent|8,630||8,585||
|Bank Charges|102||114||
|Missions|26,210||23,666||
|Stationery|-||173||
|Depreciation|17||318||
|Musicians|4,195||3.875||
|Insurance|247||236||
|Charity|720||1,060||
|**TOTAL EXPENDITURE**|**£40,121**||**£38,027**||
|(Excess of Expenditure over<br>Income)||**£(885)**|**£**|**(1,224)**|



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64 Lak8sid8 Road
West Kensington
London
W14 ODY
19 January 2026
GRACE CHRISTIAN CENTRE FINANCIAL
STATEMENT OF ACCOUNTS 2024125
I havè undertaken an ind8pend8nt examlnation of the attached financlal stataments
of the Grace Christian C8ntre for the yèar ènding 31 March 2025 in accordance with
approved Auditing Standards.
In my opinion the finandal 8tat8m8nts and undedying records glv8 a true arKI fair
view of Ihe charity's affairs for the year ending 31 March 2025.
Ademola Ayinde

64 Lak8sid8 Road
West Kensington
London
W14 ODY
19 January 2026
GRACE CHRISTIAN CENTRE FINANCIAL
STATEMENT OF ACCOUNTS 2024125
I havè undertaken an ind8pend8nt examlnation of the attached financlal stataments
of the Grace Christian C8ntre for the yèar ènding 31 March 2025 in accordance with
approved Auditing Standards.
In my opinion the finandal 8tat8m8nts and undedying records glv8 a true arKI fair
view of Ihe charity's affairs for the year ending 31 March 2025.
Ademola Ayinde