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2025-07-31-accounts

INTERNATIONAL CENTRAL GOSPEL CHURCH TRUST

Financial Accounts And Trustees Report 31st July 2025

Charity No. 1054082

INTERNATIONAL CENTRAL GOSPEL CHURCH TRUST FINANCIAL STATEMENTS AND TRUSTEES’ REPORT YEAR ENDED 31 JULY 2025

Contents Page
Legal and Administrative Information 2
Report of the Trustees 3 -4
Independent Examiner's Report 5
Statement of Financial Activities 6
BalanceSheet 7
Notes forming part of the fnancial statements 8 -11

1

INTERNATIONAL CENTRAL GOSPEL CHURCH TRUST FINANCIAL STATEMENTS AND TRUSTEES’ REPORT YEAR ENDED 31 JULY 2025

LEGAL AND ADMINISTRATIVE INFORMATION

Status

The organization is a Charity registered on the 27[th] March 1996.

The Charity is governed by a Declaration of Trust made on the 21st of February 1996. Trustees

The Trustees serving during the year and since the year end were as follows:

Rev Gracious Selassie Awoye - Pastor and Minister-In-Charge Sam Owusu-Mantey Richard Quartey

Registered Office and Operation Address

Unit C118 Trident Business Centre 89 Bickersteth Road, Tooting London SW17 9SH

Bankers

Lloyds TSB HSBC

Accountants

Garth Francis FAIA, FIFA, MAAT.BA (Accounting & Finance)

Tax Diagnostics & Co Trident Business Center 89 Bickersteth Road SW17 9SH

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INTERNATIONAL CENTRAL GOSPEL CHURCH TRUST FINANCIAL STATEMENTS AND TRUSTEES’ REPORT YEAR ENDED 31 JULY 2025

TRUSTEES REPORT

Status and Administration

The Charity is constituted and registered with the Charity Commission under charity number 1054082.

Objects of the Charity

 To advance the Christian faith in accordance with the statement of beliefs in London and in such other parts of the United Kingdom or the world as the Trustees may from time to time think fit. To relieve persons who are in conditions of need or hardship or who are aged or sick and to relieve the distress caused thereby in London and in such other parts of the UK or the world as the trustees may from time-to-time think fit

 To advance education in accordance with Christian principles including by means of establishing and operating any educational establishment or establishments in London and in such other parts of the UK or the world as the trustees may from time to time think fit

 To promote and fulfill such other charitable purposes beneficial to the community in London and in such other parts of the UK or the world as the Trustees may from time to time think fit

Governance and Internal Control

Trustees serve for a year period and may be re-elected. The trustees meet regularly within the year to review the strategy and performance and to set the operating plans and budgets.

Financial Activities and Results

The net incoming resources for the year amounted to £4,871 (2024 is £9,318) leading to total free funds carried forward of £343,934 as at 31[st] July 2025.

Investment Powers, Policy and Performance

The memorandum and articles of association, which states clear guidelines on investments policy, governs the trustees’ investments powers.

Reserves

The trustees have forecast the level of free reserves (that is those funds not tied up in fixed assets and designated as restricted funds) that the charity will require to sustain its operations over the period when it is anticipated that some of the income generating activities will be further funded to garner more income. The level of free reserve as at 31[st] July 2024 was £ 339,064.

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INTERNATIONAL CENTRAL GOSPEL CHURCH TRUST FINANCIAL STATEMENTS AND TRUSTEES’ REPORT YEAR ENDED 31 JULY 2025

Volunteers

The Charity is grateful for the unstinting effort of its volunteers who are involved in service provision. Members are given free will, without any form of coercion, to determine their form and level of support, manually or financially, to the charity.

Grant Making Policy

The Charity did not award any grants.

Risk Management

The trustees examine the major risks that the ministry faces in each financial year when preparing and updating the strategic plan. The Charity has developed systems to monitor and control these risks to mitigate any impact that they may have on the organisation in the future. Including:

Accounting and Reporting Responsibilities

The Charities Act 2011 requires the trustees of the charity to prepare financial statements for each financial year which give a

true and fair view of the charity’s financial activities during the year and of its financial position at the year end.

In preparing the financial statements, the trustees should follow best practice and select suitable accounting policies and apply them consistently;

The Trusties are responsible for keeping accounting records, which are such as to disclose, with reasonable accuracy, the financial position of the charity at any time, and to enable them as trustees to ensure that the financial statement comply with charity law. The Trustees are also responsible for safeguarding the charity ‘s assets, and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Rev Gracious Selassie Awoye

Date: 30/06/2026

4

INTERNATIONAL LE￿TIl￿L WSPEL CHURCH TRL% FINAryCIAL ￿TATE￿IENTS AND TRU%TEE5' REPORT YEAR EryDED 31 JUL Y 101$

INTERNATIONAL CENTRAL GOSPEL CHURCH TRUST FINANCIAL STATEMENTS AND TRUSTEES’ REPORT YEAR ENDED 31 JULY 2025

ACCOUNTANTS’ AND INDEPENDENT EXAMINER’S REPORT

I report on the accounts of the charity for the period ended 31 July 2025 as are set out on pages 6 to 10.

Responsibilities and basis of report

As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the

Charities Act 2011 (“the Act”). I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act

Independent examiner’s statement

I am qualified to undertake the examination by being a qualified member of The Association of International Accountants (FAIA).

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination (other than that disclosed below *) which gives me cause to believe that in, any material respect:

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.

Garth Francis FAIA, FIFA

Tax Diagnostics & Co

Date: 30/06/2026

6

INTERNATIONAL CENTRAL GOSPEL CHURCH TRUST FINANCIAL STATEMENTS AND TRUSTEES’ REPORT YEAR ENDED 31 JULY 2025

STATEMENT OF FINANCIAL
ACTIVITIES
NOTE
INCOMING RESOURCES
Incoming resources from generated
funds:
TOTAL INCOMING RESOURCES
RESOURCES EXPENDED
Cost of generating funds
Charitable Activities
3
Governance Costs
TOTAL RESOURCES EXPENDED
NET INCOME/EXPENDITURE FOR
THEYEAR BEFORE TRANSFER
Gains on revaluation of assets
Net Movements in funds
Total Funds Brought Forward
Total Funds Carried Forward
Restricted
Unrestricted		 2025
2025
2025
2024
RESTRICTED
UNRESTRICTED
TOTAL
TOTAL
£
£
£
£
-
56,287
56,287
140,514
56,287
56,287
140,514
-
51,416
51,416
131,196
-
-
-
-
-
51,416
51,416
131,196
-
4,871
4,871
9,318
-
-
-
-
-
4,871
4,871
9,318
185,238
339,064
339,064
329,746
185,238
343,935
343,935
339,064
185,238
185,038
185,238
185,238
343,935
343,935
343,935

There were no recognized gains or losses for the period other than those included in the Statement of Financial Activities.

7

INTERNATIONAL CENTRAL GOSPEL CHURCH TRUST FINANCIAL STATEMENTS AND TRUSTEES’ REPORT YEAR ENDED 31 JULY 2025

BALANCE SHEET
Note
Fixed Assets
TangibleAssets
4
Investments
Currents Assets
Cash & Bank
Debtors
Creditors: falling due within one year
Net Current Assets
Total Assets
Creditors: falling due after one year
5
NET ASSETS
INCOME FUNDS
Restricted
Unrestricted
TOTAL FUNDS		 2025
£
157,000

403,036
560,036
1
,146
1,146
6,322
(750)
6,718
566,754
(37,582)
529,172
185,238
343,934
529,172		 2024
£
157,000
403,036
560,036
1,619
1,619
6,979
(750)
7,848
567,884
(43,332)
524,302
185,238
339,064
524,302

All incoming resources and resources expended derive from continuing activities.

The Financial Statements were approved by the board on the and signed on its behalf by:

Trustees

8

INTERNATIONAL CENTRAL GOSPEL CHURCH TRUST FINANCIAL STATEMENTS AND TRUSTEES’ REPORT YEAR ENDED 31 JULY 2025

Notes to the Financial Statements for the year ended 31st July 2025

1 ACCOUNTING POLICIES

(A) Accounting Convention & Compliance

These accounts have been drawn up on the basis of a going concern and the financial statements prepared under the historical cost convention with items recognized at cost or transaction value unless otherwise stated in the relevant note (s) to these accounts.

The accounts have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and with the Charities Act 2011.

(B) Recognition of Income and Expenditure

Voluntary income is received by way of donations and gifts and is included in full in the Statement of Financial Activities in the year in which they are receivable.

The value of services provided by volunteers has not been included.

Resources expended are recognized in the period in which they are incurred. Resources expended include attributable VAT which cannot be recovered.

General Funds

Revenue grants and other income and expenditure associated with the general operations of the charity and its international projects are dealt with in the General Funds.

Restricted

Funds

These comprise donations, legacies or other income, the use of which has been specified by the donor. Funds received this year were for the procurement of a place of worship, funds for

Church retreats and Outreach and fellowship. A reconciliation of these funds is shown in Note 15

Endowment Funds

There is currently no endowment fund.

9

INTERNATIONAL CENTRAL GOSPEL CHURCH TRUST FINANCIAL STATEMENTS AND TRUSTEES’ REPORT YEAR ENDED 31 JULY 2025

(C) Depreciation

All fixed assets are capitalized. The charge for depreciation is calculated to write off the cost of the fixed assets over their useful lives on the following bases:

Musical Equipment 25% on the reducing balance Motor Vehicles 25% on the reducing balance Furniture & fittings 25% on the reducing balance Office/Computer Equipment 25% on the reducing balance Freehold Office 1% on the Straight-Line Method

Assets are depreciated from the time at which they are brought into use.

Investments

Fixed assets investments in quoted shares, traded bonds and similar investments are valued initially at cost and subsequently at fair value (their market value) at the year end.

The same treatment is applied to unlisted investment unless fair value cannot be measured reliably in which case it is measured at cost less impairment.

Investments held for resale or pending their sale and cash and cash equivalents with a maturity date of less than 1 year are treated as current asset investment.

10

INTERNATIONAL CENTRAL GOSPEL CHURCH TRUST FINANCIAL STATEMENTS AND TRUSTEES’ REPORT YEAR ENDED 31 JULY 2025

2. DONATIONS AND SIMILAR INCOMING RESOURCES

Tithes & ofering
Gift Aid Repayment
3. CHARITABLE ACTIVITIES
Rent-Ofce & Church
Media
Salaries
Mission
Honorarium
Pension
Motor Vehicle Expenses
General Administration Cost
Equipment
BankCharges
MusicMinistry
ProfessionalFees
HMRC - PAYE
Depreciation		 RESTRICTED
UNRESTRICTED
2025
2025
£
£
-
56,287
-
-
56,287		 Total
£
56,287
-
56,287		 2024
£
130,016
10,498
140,514

2025
2025
£
£

-
16,522
-
694
-
6,642
-
5,743
-
8,528
-
982
-
330
-
9,063
-
789
-
330
-
1,043
-
750
-
0.00
-
0.00
-
51,416		 Total
£
16,522
694
6,642
5,743
8,528
982
330
9,063
789
330
1,043
750
0.00
0.00
51,416		 2024
£
20,995
3,586
46,732
12,709
20,522
1,872
5,405
14,614
1,165
297
1,188
750
0.00
1,360
131,196

11

INTERNATIONAL CENTRAL GOSPEL CHURCH TRUST FINANCIAL STATEMENTS AND TRUSTEES’ REPORT YEAR ENDED 31 JULY 2025

4. TANGIBLE FIXED ASSETS

Freehold
Property
Computer
Equipment
Musical
Equipment
Motor
Vehicle
Furniture
& Fixture
COST
£
£
£
£
£
At 31 July 2024
157,000
16,289
83,305
15,595
2,852
Additions
-
-
-
-
-
At 31 July 2025
157,000
16,289
83,305
15,595
2,852
DEPRECIATION
At 31 July 2024
-
16,289
83,305
15,595
2,852
Charge in period
-
-
-
-
-
At 31 July 2025
-
16,289
83,305
15,595
2,852
NET BOOK VALUE
At 31 July 2024
157,000
0.00
0.00
0.00
0.00
At 31 July 2025
157,000
0.00
0.00
0.00
0.00
5. CREDITORS – due after one year
2025
£
Loan – Mortgage
37,582
43,582		 Freehold
Property
Computer
Equipment
Musical
Equipment
Motor
Vehicle
Furniture
& Fixture
£
£
£
£
£
157,000
16,289
83,305
15,595
2,852
-
-
-
-
-		 Freehold
Property
Computer
Equipment
Musical
Equipment
Motor
Vehicle
Furniture
& Fixture
£
£
£
£
£
157,000
16,289
83,305
15,595
2,852
-
-
-
-
-		 Freehold
Property
Computer
Equipment
Musical
Equipment
Motor
Vehicle
Furniture
& Fixture
£
£
£
£
£
157,000
16,289
83,305
15,595
2,852
-
-
-
-
-		 Total
£
275,041
-
157,000
16,289
83,305
15,595
2,852
-
16,289
83,305
15,595
2,852
-
-
-
-
-		 275,041
117,586
-
-
16,289
83,305
15,595
2,852		 117,586
157,000
0.00
0.00		 0.00
0.00		 157,000
0.00
0.00
2025
£
37,582
43,582		 157,000
2024
£
43,582
43,582

12