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 2024
Amazing Grace Christian Sanctuary
Index to the Financial Statements For the Year Ended 31 December 2024
| 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 2024
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 2024
The Management Committee of the Amazing Grace Christian Sanctuary present their report together with the financial statement for the year ended 31 December 2024.
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
The year under review was particularly challenging in that the Church was not immune against the impact of increased in general cost of living all-over the world. This hardship placed increase in demands on poverty relief services the Church was able to provide to the general public.
The church membership grew significantly as a result of the hard work of our volunteers who were engaged in spreading the work of the church through evangelism, community outreach and new media.
Within it limited resources, the church was able to continue the annual health check programme to the general public for both members and non-members.
Also, a Welfare and Social department was established with the mandate to coordinate and administer the food bank programme and donations to other charities.
A policy review sub committee of Trustee was setup and charged with responsibility of formulating and regularly reviewing the church’s policies on Financial reserve, Risk management, Safeguarding and Conflict of interest so as to ensure that the church is in compliant with external regulations and obligations.
Our youth development programme received significant boost with more training in media and music skills.
Future Developments
The church will continue to leverage on technology and will look into subscribing to its own TV and radio broadcast channels to spread the work of the church across all boundaries of the world.
The church will intensify awareness and educational programmes and seminars particularly on issues bothering on youths, knife attack and anti-social behaviour.
Managements will continue to work with other organisations particularly international donor agencies such as WaterAid, Christian aid 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 2024
| Restricted Unrestricted Fund Fund Designated General Notes £ £ Incoming Resources 2 Collection/Donation 2,650 129,972 Resources expended Direct charitable expenditure 45,817 Support costs 6,249 Management & Admin cost 59,883 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 2024 31 Dec 2023 Total Fund Total Fund £ £ 132,622 85,949 132,622 85,949 45,817 50,776 6,249 2,908 59,883 26,257 111,949 79,941 20,673 6,008 39,421 24,531 0 8,882 60,09439,421 |
|---|---|
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| Amazing Grace Christian Sanctuary | Amazing Grace Christian Sanctuary | Amazing Grace Christian Sanctuary | ||
|---|---|---|---|---|
| Balance Sheet | ||||
| As at 31 December 2024 | ||||
| 31 Dec 2024 | 31 Dec 2023 | |||
| FIXED ASSETS | Notes | £ | £ | |
| Tangible assets | 4 | Nil | 3,300 | |
| CURRENT ASSETS: | ||||
| Bank | 61,411 |
38,452 | ||
| CREDITORS:Amount falling | ||||
| Due within one year | 5 | (1,317) | (2,331) | |
| NET CURRENT ASSETS: | 60,094 | 36,121 | ||
| TOTAL ASSETS LESS | ||||
| CURRENT LIABILITIES | 60,094 | 39,421 | ||
| REPRESENTED BY: | ||||
| Accumulated fund | 60,094 | 39,421 | ||
| 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 £16,344 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 3,300
- 3 TAXATION
No liability to UK Corporation tax arose on ordinary activities for the year ended 31 December 2024.
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Amazing Grace Christian Sanctuary
4 TANGIBLE FIXED ASSETS
COST: As at 01 Jan 2024 Disposal Addition DEPRECIATION: Brought fwd. Disposal Charged for the year NET BOOK VALUE At 31 December 2024 |
Vehicle £ 20,500 20,500 20,500 - 20,500 Nil |
Equipment 21’470 21,470 18,170 3,300 21,470 Nil |
Total £ 41,970 41,970 38,670 3,300 41,970 |
|
|---|---|---|---|---|
5 CREDITORS: AMOUNT FALLING
DUE WITHIN ONE YEAR
Accrued expenses – Accountancy fees £369.00 Sundry creditors £187.00 Net Wages £0 PAYE £761.00
£1,317.00
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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 2024.
I report on the financial statements of the Church for the year ended 31 December 2024, 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 2024
For Amazing Grace Christian Sanctuary
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Amazing Grace Christian Sanctuary
Detail Financial Statements For the Year Ended 31 December 2024
| Income/Receipts Collections/donation – Church - Gift Aid Claim - Bank interest - Building Expenditure Charitable Activities Volunteer expenses Holy Communion materials Telephone Insurance Conference Donation Depreciation Rent & Rates Mission to Nigeria Light and Heath Travelling and subsistence Support Cost Website/software Repair & maintenance Stationery Equipment expensed Other legal & professional expenses Cleaning Management & Administration Accountancy Minister’s stipend-Minister in charge Wages & Salaries Pension Sundry -Visiting ministers Surplus/(Deficit) |
£ £ 113,017 16,344 611 2,650 132,622 4,350 2,214 644 0 4,159 6,730 3,300 12,959 8,613 2,848 0 45,817 367 3,310 180 56 536 1,80 0 6,249 1,440 18,000 38,868 176 799 600 59,883 111,949 20,673 |
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