Amazing Grace Christian Sanctuary (A ‘Not-for-profit’ unincorporated organisation) Charity Number 1080654 Report of the Trustees And Financial Statements For the Year Ended 31 December 2022 Amazing Grace Christian Sanctuary Index to the Financial Statements For the Year Ended 31 December 2022 ||Page| |---|---| |Organisation Information|3| |Report of the Members/Trustees|4-5| |Statement of Financial Activities|6| |Balance Sheet|7| |Notes to the Financial Statements|8-9| |Independent Examiners’ Report|10| |Detail Financial Statements|12| 2 ## Amazing Grace Christian Sanctuary Organisation Information For the Year Ended 31 December 2022 Trustees: ( Management Committee ) Evangelist Rachel Olumoroti Mr. Israel Obembe Mr. Adefolarin Olumoroti Deaconess Dupe Ogundiran Mr Adebola Olatunde Adeyemi Mr Alan Olatunbosun Registered office: Unit 2 Dominion Works Freshwater Road Dagenham Essex RM8 IRX Charity Number: 1080654 Accountant: Gabriel & Associates 293a High Road Leytonstone London E11 4HH Minister in Charge: Rev. Ezekiel Omotunde Olumoroti 3 AMAZING GRACE CHRISTIAN SANCTUARY (A not-for-profit charity organisation) ## **Report of the Management Committee** For the year ended 31 December 2022 The Management Committee of the Amazing Grace Christian Sanctuary present their report together with the financial statement for the year ended 31 December 2022. ## **Objectives of the organisation** 1.To advance the Christian religion by propagating the gospel of Jesus Christ and proclaiming the kingdom of God through the preaching of the word of God, through Jesus Christ our Lord. 2.To relieve poverty by providing care for the needy and by cooperating with other charitable and Christian organisations to offer help, both financially and otherwise, to victims of war, disaster and other misfortune locally, nationally and internationally. ## **Executive Committee Members** The Executive Committee who held office for the period of this report were as follows: Evangelist Rachel Olumoroti Mr Israel Obembe Mr Adefolarin Olumoroti Deaconess Dupe Ogundiran Mr. Adebola Olatunde Adeyemi Mr. Alan Olatunbosun The year ended 31 December 2022 began with our usual week-long prayer and fasting period to thank God for seeing everybody through the previous year, 2021. As in previous year, members from other churches in and around the local community participated in the week-long programme. 4 ## **Achievements during the year** During the year under review, the inhouse training school for would-be Ministers of God that was established over previous years, graduated third set of participants who were presented with certificates for successful completion of their course of study. This inhouse training school provides courses on basic education for yet to be ordained ministers of God as well as those who wanted to broaden their biblical knowledge. In the month of May as usual we had our yearly church celebration which achieved modest success as the church was able to convert new members that now attend the church regularly. With the Covid 19 epidemic over, the church carried out the annual community health check programme in April and October. Topical health issues that were covered include, Healthy living, Blood pressure management, Diabetics, Cholesterol etc. Again, this particular community programme achieved tremendous success as users of the services gave positive commendation. In furtherance of the committee’s desire to bring our youths closer to God through social recreation activities and networking, the youth department organised a coach trip to Clacton -on-Sea in the summer month of August. A committee for **“Social Contract”** is now in place and was setup during the year with sole responsibility of reaching out and engaging with less privileged and others in need, initially here in the UK but with hope of worldwide coverage. This committee were able to reach out by way of donations to major charities including, Great Ormond Hospital, St. Joseph Hospice, Marie Currie etc. Our overseas branches both in Ilesha and Lagos, Nigeria also recorded success in their charitable work through provision of borehole in rural communities of Osun state, Nigeria. ## **Future Developments** Efforts will be intensified by leveraging on technology particularly social media, TV and radio broadcast to spread the work of the church across all boundaries of the world. Awareness and educational programmes and seminars will be organised on topical issues such as, Wills and Probates, Gift Aid, Career counselling for youths, meet and mingle for singles as a forum to develop relationship, family values and marriage counselling, Drama and play group, old age and end of life care, equity release for aged members who are asset reach but cash poor. Managements will continue to work with other organisations particularly international donor agencies such as WaterAid, Christianaid etc with sole aim of furthering our work in Nigeria and Africa as a whole. On behalf of the Board of Trustees Rev. Ezekiel Olumoroti Minister-in-Charge 5 ## Amazing Grace Christian Sanctuary Statement of Financial Activities For the year ended 31 Dec 2022 |||Restricted|Unrestricted|31 Dec 2022 31 Dec 2021|31 Dec 2022 31 Dec 2021| |---|---|---|---|---|---| |||Fund|Fund|Total Fund|Total Fund| |||||£|£| |||Designated|General||| ||Notes|£|£||| |**Incoming Resources**|**2**||||| |Collection/Donation||1,730|68,383|70,113|64,231| |||||70,113|64,231| |**Resources expended**|||||| |Direct charitable expenditure|||44,006|44,006|36,490| |Support costs|||2,350|2,350|5,985| |Management & Admin cost|||22,539|22,539|19,739| |**Total resources expended**||||**68,895**|**62,214**| |**Surplus/(deficit) on ordinary**|||||| |**Activities before funds transfers**||||**1,218**|**2,017**| |Balance brought forward||||23,313|21,296| |Previous year adjustment|||||| |Funds balance at 31 Dec 2022||||24,531
|**23,313**| 6 ||Amazing Grace Christian Sanctuary|Amazing Grace Christian Sanctuary|Amazing Grace Christian Sanctuary|| |---|---|---|---|---| ||||Balance Sheet|| ||||As at 31 December 2022|| |||31 Dec 2022||31 Dec 2021| |FIXED ASSETS||Notes|£|£| |Tangible assets||4|2,143|3,477| |CURRENT ASSETS:||||| |Bank|||23,415|19,836| |CREDITORS:Amount falling||||| |Due within one year||5|(1,027)|(-)| |NET CURRENT ASSETS:|||22,288
|19,836| |TOTAL ASSETS LESS||||| |CURRENT LIABILITIES|||24,531|23,313| |REPRESENTED BY:||||| |Accumulated fund|||24,531|23,313| |**ON BEHALF OF THE BOARD**||||| |**…………………………….Signature ….………………/Trustee**||||| **…………………………….Signature …….………………..Secretary** 7 ## Amazing Grace Christian Sanctuary ## ACCOUNTING POLICIES Accounting convention The financial statements have been prepared: Under the historical cost convention In accordance with the Financial Reporting Standard for Smaller Entities Income/Receipts Incoming resources represents net fees, donations, grants and investment income receivable. Tangible Fixed Assets Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Van 20 % straight line Equipment 20% straight line - 1 RECEIPTS/INCOMING RESOURCES The incoming resources and deficits are attributable to the one principal activity of the Church. During the year, a total of £11,887 was refunded to the Church by the Inland Revenue, being Gift Aid Claims for the year. - 2 OPERATING SURPLUS/(DEFICIT) The operating surplus is stated after charging: £ Depreciation – owned assets 3,469 - 3 TAXATION No liability to UK Corporation tax arose on ordinary activities for the year ended 31 December 2022. 8 ## Amazing Grace Christian Sanctuary ## 4 TANGIBLE FIXED ASSETS |**Vehicle**
£
COST:
As at 01 Jan 2020
20,500
Disposal
Addition
20,500
DEPRECIATION:
Brought fwd.
20,500
Disposal
Charged for the year
-
20,500
NET BOOK VALUE
At 31 December 2022
Nil
5
CREDITORS: AMOUNT FALLING
DUE WITHIN ONE YEAR
Accrued expenses – Accountancy fees
£840.00
Sundry creditors
£187.00
£1,027|**Vehicle**
£
COST:
As at 01 Jan 2020
20,500
Disposal
Addition
20,500
DEPRECIATION:
Brought fwd.
20,500
Disposal
Charged for the year
-
20,500
NET BOOK VALUE
At 31 December 2022
Nil
5
CREDITORS: AMOUNT FALLING
DUE WITHIN ONE YEAR
Accrued expenses – Accountancy fees
£840.00
Sundry creditors
£187.00
£1,027|**Equipment**
15,210
2,135
17,345
11,733
3,469
15,202
2,143

|
|**Total**
£
35,710
2,135
37,845
32,233
3,469
35,702
2,143| |---|---|---|---|---| |||||| ||£1,027|||| 9 ## **Amazing Grace Christian Sanctuary** **Independent Examiner’s Report to The Trustees of Amazing Grace Christian Sanctuary on the accounts for the year ended 31 December 2022.** I report on the financial statements of the Church for the year ended 31 December 2022, which are set out on pages 6 to 9. ## **Respective responsibilities of trustees and examiner** As the Church’s trustees you are responsible for the General Directions given by the Charity Commissioners. An independent examination includes a review of the accounting records kept by the Church and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the financial statements. ## **Independent examiner’s statement** In connection with my examination, no matter has come to my attention which gives me reasonable cause to believe that in any material respect the requirements to keep accounting records in accordance with section 41 of the Act, and to prepare financial statements which accord with the accounting records and to comply with the accounting requirements of the Act, have not been met, or to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached. Gabriel Akintunde Gabriel & Associates 293a High Road Leytonstone London E11 4HH 10 Financial Statements For the Year Ended 31 December 2022 For Amazing Grace Christian Sanctuary 11 ## Amazing Grace Christian Sanctuary Detail Financial Statements For the Year Ended 31 December 2022 |||£|£| |---|---|---|---| |Income/Receipts|||| |Collections/donation –|Church|48,971|| |-|Gift Aid Claim|11,887|| |-|Bank interest|127|| |-|Youth account|7,398|| |-|Building|1,730|**70,113**| |Expenditure
**Charitable Activities**
Volunteer expenses
Publicity
Holy Communion materials
Telephone
Insurance
Conference
Postage
Donation
Depreciation
Sundry
Small equipment

Rent & Rates
Mission to Nigeria
Light and Heath
Travelling and subsistence
**Support Cost**
Info and publication
Website/software
Stationery
Repairs and maintenance
Cleaning

**Management & Administration**
Accountancy
Minister’s stipend-Minister in charge
Pension
Bank Charges
-Visiting ministers
|

























|5,270
1,442
5,971
774
495
1,181
368
5,993
3,469
120
0
11,856
4,515
1,500
1,052
**44,006**
965
451
324
610
0
**2,350**
1,440
19,613
566
0
920
**22,539**
**68,895**| |---|---|---| |||| **1,218** **Surplus/(Deficit)** 12