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| 2 ## 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 3 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 4 ## **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 5 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
60,094**39,421**| |---|---| 6 ||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**||||| 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 £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. 8 ## 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** 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 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 10 Financial Statements For the Year Ended 31 December 2024 For Amazing Grace Christian Sanctuary 11 ## 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**| |---|---|---| |||| 12