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<br>Unrestricted<br>Fund<br>Fund<br>Designated<br>General<br>Notes<br>£<br>£<br>**Incoming Resources**<br>**2**<br>Collection/Donation<br>2,333<br>83,615<br>**Resources expended**<br>Direct charitable expenditure<br>50,776<br>Support costs<br>2,908<br>Management & Admin cost<br>26,257<br>**Total resources expended**<br>**Surplus/(deficit) on ordinary**<br>**Activities before funds transfers**<br>Balance brought forward<br>Previous year adjustment<br>Funds balance at 31 Dec 2022|31 Dec 2023<br>31 Dec 2022<br>Total Fund<br>Total Fund<br>£<br>£<br>85,949<br>70,113<br>85,948<br>70,113<br>50,776<br>44,006<br>2,908<br>2,350<br>26,257<br>22,539<br>**79,941**<br>**68,895**<br>**6,008**<br>**1,218**<br>24,531<br>23,313<br>8,882<br>39,421<br>**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:<br>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:<br>As at 01 Jan 2023<br>Disposal<br>Addition<br>DEPRECIATION:<br>Brought fwd.<br>Disposal<br>Charged for the year<br>NET BOOK VALUE<br>At 31 December 2023|**Vehicle**<br>£<br>20,500<br>20,500<br>20,500<br>-<br>20,500<br>Nil|**Equipment**<br>17,345<br>4,125<br>21,470<br>15,202<br>2,968<br>18,170<br>3,300|**Total**<br>£<br>37,845<br>4,125<br>41,970<br>35,702<br>2,968<br>38,670<br>3,300|**Total**<br>£<br>37,845<br>4,125<br>41,970<br>35,702<br>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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