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 2023
Amazing Grace Christian Sanctuary
Index to the Financial Statements For the Year Ended 31 December 2023
| 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 |
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Amazing Grace Christian Sanctuary
Organisation Information For the Year Ended 31 December 2023
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
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AMAZING GRACE CHRISTIAN SANCTUARY (A not-for-profit charity organisation)
Report of the Management Committee
For the year ended 31 December 2023
The Management Committee of the Amazing Grace Christian Sanctuary present their report together with the financial statement for the year ended 31 December 2023.
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
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Achievements during the year
Within the available resources the church was able to carry out all charitable activities of the church notably; foodbank for members and general public, health and medical awareness outreach, provision of borehole for our host communities in Nigeria.
Our “ Social Contract” programme was expanded on in terms of number of beneficiaries and donations to other major charities such as Great Ormond Hospital, St. Joseph Hospice etc.
Series of seminars on Wills and Probates, Gift Aid giving, Career counselling for youths were organised and delivered by leading external consultants who are experts on their field.
Leveraging on technology is now fully operational and the work of the church is now able to spread across all geographical boundaries through Zoom meetings, TV and radio broadcast.
Future Developments
The use of technology will be expanded on 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 particularly on issues bothering on youths, knife attack and anti-social behaviour will be organised throughout the year.
Also, the church aims to create more awareness on other 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, funeral planning and insurance, 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
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Amazing Grace Christian Sanctuary
Statement of Financial Activities For the year ended 31 Dec 2023
| Restricted Unrestricted Fund Fund Designated General Notes £ £ Incoming Resources 2 Collection/Donation 2,333 83,615 Resources expended Direct charitable expenditure 50,776 Support costs 2,908 Management & Admin cost 26,257 Total resources expended Surplus/(deficit) on ordinary Activities before funds transfers Balance brought forward Previous year adjustment Funds balance at 31 Dec 2022 |
31 Dec 2023 31 Dec 2022 Total Fund Total Fund £ £ 85,949 70,113 85,948 70,113 50,776 44,006 2,908 2,350 26,257 22,539 79,941 68,895 6,008 1,218 24,531 23,313 8,882 39,421 24,531 |
|---|---|
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Amazing Grace Christian Sanctuary
| Balance Sheet | |||
|---|---|---|---|
| As at 31 December 2023 | |||
| 31 Dec | 2023 | 31 Dec 2022 | |
| FIXED ASSETS | Notes | £ | £ |
| Tangible assets | 4 | 3,300 | 2,143 |
| CURRENT ASSETS: | |||
| Bank | 38,452 | 23,415 | |
| CREDITORS: Amount falling |
|||
| Due within one year | 5 | (2,331) | (1,027) |
| NET CURRENT ASSETS: | 36,121 | 22,388 | |
| TOTAL ASSETS LESS | |||
| CURRENT LIABILITIES | 39,421 | 24,531 | |
| REPRESENTED BY: | |||
| Accumulated fund | 39,421 | 24,531 | |
| ON BEHALF OF THE BOARD | |||
| …………………………….Signature | ….………………/Trustee |
…………………………….Signature …….………………..Secretary
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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 £13,436 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 2,968
- 3 TAXATION
No liability to UK Corporation tax arose on ordinary activities for the year ended 31 December 2023.
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Amazing Grace Christian Sanctuary
4 TANGIBLE FIXED ASSETS
| COST: As at 01 Jan 2023 Disposal Addition DEPRECIATION: Brought fwd. Disposal Charged for the year NET BOOK VALUE At 31 December 2023 |
Vehicle £ 20,500 20,500 20,500 - 20,500 Nil |
Equipment 17,345 4,125 21,470 15,202 2,968 18,170 3,300 |
Total £ 37,845 4,125 41,970 35,702 2,968 38,670 3,300 |
Total £ 37,845 4,125 41,970 35,702 2,968 |
|---|---|---|---|---|
5 CREDITORS: AMOUNT FALLING DUE WITHIN ONE YEAR
| Accrued expenses – Accountancy fees | £369.00 |
|---|---|
| Sundry creditors | £187.00 |
| Net Wages | £1,549.00 |
| PAYE | £226.00 |
£2,331.00
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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 2023.
I report on the financial statements of the Church for the year ended 31 December 2023, 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
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Financial Statements For the Year Ended 31 December 2023
For
Amazing Grace Christian Sanctuary
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Amazing Grace Christian Sanctuary
| Detail Financial Statements | ||||
|---|---|---|---|---|
| For the Year Ended 31 December 2023 | ||||
| £ | £ | |||
| Income/Receipts | ||||
| Collections/donation – | Church | 59,731 | ||
| - | Gift Aid Claim | 13,436 | ||
| - | Bank interest | 403 | ||
| - | Youth account | 10,045 | ||
| - | Building | 2,333 | 85,949 | |
| Expenditure | ||||
| Charitable Activities | ||||
| Volunteer expenses | 6,185 | |||
| Holy Communion materials | 2,492 | |||
| Telephone | 414 | |||
| Insurance | 372 | |||
| Conference | 10,278 | |||
| Donation | 7,640 | |||
| Depreciation | 2,968 | |||
| Rent & Rates | 12,910 | |||
| Mission to Nigeria | 5,133 | |||
| Light and Heath | 1,974 | |||
| Travelling and subsistence | 410 | |||
| 50,776 | ||||
| Support Cost | ||||
| Website/software | 956 | |||
| Stationery | 1,652 | |||
| Cleaning | 300 | |||
| 2,908 | ||||
| Management & Administration | ||||
| Accountancy | 1,440 | |||
| Minister’s stipend-Minister in charge | 23,192 | |||
| -Visiting ministers | 1,625 | |||
| 26,257 | 79,941 | |||
| Surplus/(Deficit) | 6,008 |
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