Charity number: 1080936 GLOBAL EVANGELICAL CHURCH, UK Trustees, report and fanCial statements for the year ended 31 Deeember 2023
CLOBAL EVANGELICAL CHURCH, UK Contsnts Page I£gJl and adrninistrative infomktioll Trustees report Independent examirnrs, report Statetnent of ftsjancial activities Balance sheet Notes to the financial statements 8-10
GLOBAL EVANGELICAL CHURCH, UK Legal and administr*tiv¢ information Cknrity Dumb¢T 1080936 Buslness gddr 55 Pathfield Road Streathatn SW16 SNZ Registsred otri¢¢ 388 Streatham High Ro1 IAJtMhJn SW16 6HX Admini51rator Memkr Mavis Gt¢wonyo treDeFudzi Victor M(MbA Metnber Member Secretsry Pastors Rev blwaTd Te Rev Joseph Addo Ac¢ountsttts Eric & Co & Register1 AuditOT5 87 Tyle¢mft Road London SW16 4BJ B4Dk¢r5 HSBC Bank 20-21 EleaTi¢ Parw]e George South WIM)dford London E18 2LX
GLOBAL EVANGELICAL CHURCH, UK Report of the trnstees for the year ended 31 December 2023 The trustees present their report and the finan¢i21 statements for the year ended 31 December 2023. The trustees who served during the year and up to the date of this report are set out on page l. Strnetur4 g0Venllee and management The 8overning instrument of the Charity i5 its adopted Constitution dated 26 SepteMr 1999. The day to day operation of the Charity is CODtrolled and managed by the Trustee5. Rlsk MAnggemtDt Th¢ Trustees have assessed the major risks to which the charity is expose in particular tho% relating to th6 operdtiDll5 and finances of the Charity and are satisfied that systems and controls are in place to mitigate their exposure to the major risks. Objectives and aetivities The principal objectives of th8 Chariry are.. (i) The advaThcement of the Christian Religion (ll) The relief of poyety, sickness aDd distre&8 Prayer programrnes alld retreats in additiolls to usual church service5 continue to be held to advance the Gosp¢l of Jesus Christ in London and beyond The TnteeS confimi that they have paid due regard to the guidance contain in the Charity ComMi10,S general guidance on publi¢ ben¢fit Mth¢n r¢Yiewing th¢ Trust's ain and obj¢clives in s¢tting th¢ gT8nt inaking poli¢y for th¢ year. Aeblevements and performance The year proved to be very succe&sfvl in tern of donations reeeived and donations gtven. This 19 due to the fact that two new branch¢5 have b¢en op¢ned and memb¢r5 wmmitment to acqutring a plac¢ of worship.Th¢ Charity is 80 a¢¢umulating reserve tQWdrds the aquisition of a place of worship. FinanciAI review The net 5llrplus for the year, whidj were all frotn Unrestricted fun(Ls. atnounted to £12.720 and addeded to the net incoming resources brought forward of £305,503. The total reserve carried foNard is £318.223. Tithes and offerings continue to be the main sources of income. There are still plaL4 to acquire a place of worship. The policy on ieserve is that a inininum of tIe¢ months ¢xp¢Dse5 W¢ to b¢ h¢ld in liquid funds and this l¢v¢l of r¢seTV¢S has been rnaintaitled during most of thc peiiod in questiou. Pag¢ 2
GLOBAL EVANGELICAL CHURCH, UK Report of tbe trustees for the year ended 31 December 2023 Statement of trnstees, responsibilities The trnstees are responsible for preparing th¢ TNstees' Annual Report and th¢ financial statements in accordance with appli¢abl¢ law and United Kmgdom AccOtIng Standards {Unit¢d Kingdom Qenerdlly Ac¢ept¢d Accounting Pradi¢e). Law applicable to charitie$ in Enond and Wales requires the ttwstees to prepare financial statements for each financial year which give a truc and fair view of charity and of the incorning re50urees and appli¢ation of resources of the charity for that year. In preparing these financial sthtements the tNstees are required to.. s¢le¢t suitable a¢couniing p)licies and then apply them consistently. observe the methods and principles in the Charities SORP. make judgements and estimates that are re&sonable and prudent" state whether applicable UK Accounting Stsndards have been followed, subject to any rnaterial departures disclosed and explai11 in the fancial staternent$' and prepare the fmancial statements on the going ncern basis unless it 15 inappropriate to presume that the charity will continue in operation. The tNstees are responsible for keeping proper accounting records which disclose reasonable accuracy at any time the financial position of the charity and enable thern to ensure that the financial statements comply with the Charities Act 2011 and the Charity (Account5 and Reports) RegulatTons 2008. They 3re also responsible for safegtwding th¢ a$5¢ts of the charity and hence ftir taking reasonable steps for the preveniion and de¢tion of fraud and other irregularities. On b¢balf of th¢ board Mtvis Gbewonyo Trnst¢¢ Dats: 6 Dtc¢mb¢r 2024 Page 3
GLOBAL EVANGELICAL CHURCH, UK Ind¢pcndent cxaminer's r¢port to the trnstees on the unaudited financial statements of GLOBAL EVANGELICAL CHURCH, UIL I report on th¢ aCUnts of GLOBAL EVANGELICAL CHURCH, UK for the year ended 31 December 2023 sel out on pages 2 to 10. RespeclJv¢ responslbllllles of t$1¢¢$ and Independent examlner As the charity's trustees you are resw>n5Lble for the preparation of the ac¢ount¥ you consider ihat audit Is not required for the year under section 144{2) of the Charities Act 2011 (the 201 l Act) and that an independcnt cxamination is needed. It is my rcsponsibility to Examine the accounts under sectiott 145 of the 2011 Ae4 to follow the procedures laid down in the Genernl DirectiODS given b>, the Charity Commission under scctton 145{5)(b) of the 2011 ACL at)d to ate whether particular matters h&ve come io my attentiot]. Basis of illdependent examiner s statement My examination was carried out in accoTdance with the General Directions given by the Charity Commission. An examination llicludes a review of th¢ a¢untIng records kept by th¢ charily and a comparison of the accounts presented with those record5. It a]so includes consideration of any unusual iteTns ot disclDsures in the accounts, atld seeking explanations from you as trustees ¢on¢erning any such matters. The procedures undertaken do not provide all the evsdence that would be required in an audit and consequently no opinion i5 given to whether the aecounts present a rue and fair Yiew, and the rq)ort is limited to those matters set out in the ststement below. IDdcpendent examiner's stalement In connection with my examination, no matter has come to my attention.. (i) which giv¢s m¢ rvdsonable Cause to b¢li¢v¢ that in any material SpeCt the r¢qutrem¢nts'. to keep proper ac¢ountiThg re¢ords in OrdanC¢ with se¢tion 130 of th¢ 201 l A¢t' and to prepare accounts which accord with the accounting records and lo comply with the accounting requirements of the 2011 Act haye not ken met- or {il) IL) whith. in my opini¢)n, attention should be drdwn in order ttb enable a prOr uttderstsnding of the a¢¢ounts to be reaehe(L Erlc Ashong FCCA IDdependent examiner Erie & Co Chllrtcred Certlfied Aecountallt5 & Registered Audiknrs 87 Tylecroft Road IA>ndon SW16 4BJ Date: 9 December 2024 Page 4
GLOBAL EVANGELICAL CHURC UK Statement of financial activities For th¢ year ended 31 D¢¢¢mb¢r 2023 UnrestrSettd fund5 21ll3 Total 2022 Total Note5 IDcoJning resouree5 Incoming resources from generating bjnds: Voluntary income Jnvestment income 112.530 8,133 112,530 8,133 83.066 Total illeomillg resourees 120,663 120,663 83,075 Rp50urce5 expended Salaries, taxes and NIC Rent payable Miscellaneous and general expenses Welfar6 and hardship relief Repairs & maintenance Insurance Communi¢)n eXpaS Pulpit allowance C.huich trip and travelling Bank charges Legal and professional fees Postage, printing and stationery Honorarium and appreciation Refreshment and hospithlity Depreciation of musical instruments DeprlatIon of rumputer eqUiPmEiIt Praise and worship Youth and Sunday school expee5 Training and development Evangelism Charitable donation and gift 19,011 13.912 436 4.445 19,011 13,912 436 4.445 18,379 13,201 408 9.360 145 175 188 10,150 3,T24 177 1,486 221 285 1.575 2,318 743 1,205 2,173 145 86 16.600 2.698 216 1,585 243 1,721 145 86 16,600 2.698 216 .585 243 1.721 160 909 1.760 3.424 2.307 588 100 11,500 909 1,760 3,424 2J07 588 loo 11,5 858 2.980 Totsl resources expended 81.846 81.846 70,355 Net illcoming nsources for the year 38,817 38,817 12,720 Th¢ no¢¢s on pag¢5 8 10 io for an inttgrnl p4rt of Ih¢5e fill4nciAI statem¢Dts. Pag¢ 5
GLOBAL EVANGELICAL CHURCH, UK Statement of financial activiti For the year ended 31 Dec¢mber 2023 Total futu]5 brougbt forward 318223 318,223 305,503 Total lun(ts carried forward 357.040 357,040 318.223 The stat¢ment of financial actlVLties includcs all gains and 1055C3 ill the year and therefore a separate statement of total recogni5ed 8ain5 altd losscs has not bccn prepared. All of the alx)ve 8mounts late to continuing activities. The notes on page5 8 to 11) fom Integrjl part of these nnanclal 5tstements. Page 6
CLOBAL EVANGELICAL CHURCH, UK Balance sheet ¥4$ #t 31 December 2023 2023 2022 Notss Fixed a5$ets Tangtbl¢ asset5 Cllrrent a&8ets Debio Cash at baDk and ill hand 8.012 9,183 74,630 278299 75,220 241,814 352,929 317,034 Creditora: amounts TIllg due Jvitbin one year (3,901) (7,994) Net current %sets 349,028 309,040 Net assets 357,040 318,223 Fullds Unrestricted income fi]nds 357,040 318.223 Totsl futtds 357.040 318,223 The financial statements were approved by the trustees on 6 DecellLber 2024 8nd SI¢d on its behalf by John Wogormebu Trustee M4vi$ Gbewonyo Trustse The notes pages 8 to 10 form an Integral PArt of these fillaneial statement Page 7
GLOBAL EVANGELICAL CHURCH, UK Notes to flnaneial statements for the year ¢nd¢d 31 Detember 2023 Accoun¢illg poli¢ies The principal accounting policies ar¢ SUTnTDwd below. The accounting policies have been applied con5iSt¢ntly throughout th¢ y¢ar and the preceding year. 1.1. Basi8 of aecouDting The financial statemcnts are prepared UTLder the historical cost conveniion and in accordance with the Ststetnent of RecoTnTnended Prdctiee 'AccouThting and Reporting by Charities, issued in MoTch 2(X)S (SORP 2005) and the Charities A¢t2011. 12. Jlleomlng resources All incoming r¢sourc¢s are included itt the statement of financial activities when the charity is entitled to the in¢ome and th¢ amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of inrome.. Volulltary income is received by way of donation4 offeriTJg5 and tLth¢s and is in¢luded in 11 in the statement of financial activities when receivable. Lncome from it)tments is included the year irt which it is receivable. A.3. R£gources expended Expenditure i5 recognised on an 0¢Ual basis as a liability is ineurred. Expenditure includes any VAT which cannot be fully r¢¢ov¢red, and is reported as part ofthe expthjditure to which it relates. Costs of generating fi]nds comwise the ¢osts associated with attracting voluntary illcoll. It includes both c4)Sts that eart be Allocated directly to such activiti¢5 and those costs of an Indire nawff necessary to support thern. 1.4. T*ngSble flxed as$¢ts and.depreciation TaDgible fjxed a55ets are stated #t Cost less accumulated depreciation. Depreciation is providcd at rntes Cal¢Iated to Thrite off the cost less residual value.of eath as5¢t over its expected SefUl lif¢ as follows: Office and Computer &]uipment - Musical instrurnents 25Yo reducing balance method 25Vo reducing balance method Voluntary llleome UnrostrActed fuDds 2023 Total 21)22 Total t)onations and offtrings Tithes Charity credit 66,158 14,684 31,688 66,158 14.684 31,688 58,254 12,392 12.420 112.530 112530 83.066 Page 8
GLOBAL EVANGELICAL CHURC UK Notes to financial statements for the year ended 31 Deetmber 2023 Investment Ineome Unrestricted fuBds 2023 Tot81 2O22 Total Bank interest receivable 8,133 8,133 8,133 8,133 Employe Employment Costs 2023 2022 Wages and salaries No employee r¢c¢ived emoluments of more than £60.000 (2022 '. None). 19.011 18,379 Number of employees The average monthly numbers of employees (including the tntstees) during the year, calculated ott the basis of 11 time equivalent5, &s follows: 2023 Number 2022 NMber Staff o(rice and, Computer Musical equlpment ffin5trumellts Tangibk fjxed assets Totsl C08t At l January 2023 Additions 19,475 1,498 26,154 45.629 .498 Ai 31 DeCemr 2023 20.973 20,154 47,127 Deprecigtion At l January 2023 Charge fgr the year. 13,930 1,760 22,516 909 36,446 2,669 At 31 Dember 2023 15.690 23.425 39,l15 Trl¢t book vgluos At 31 December 2023 5.283 2,729 8,012 At 31 Dec¢mb¢r 2022 5,545 3,638 9,183 Page 9
GLOBAL EVANGELICAL CHURCH, UK Notes to fmanciAI statements for the year ended 31 December 2023 Debtors 21)23 2022 Other debtors Pr¢paym¢nts and accrued in¢om¢ 60,725 13.905 61225 13,995 74,630 75.220 Credltors: amounts f4lllDg duc wllhln one year 2023 2022 Other creditors Accruals deferr¢d income 1,021 2,880 3,482 4,512 3,901 An*lysls of llet between funds Unrutrleted fuffid$ TotAI runds Fund balanS at 31 December 2023 as represented by.. Tangible fixed a55ets Current assets Current liabilitie5 8,012 352,929 (3.901) 8,012 332,929 (3,901) 357,040 357.040 Unre8tr1eted fund8 At Al l January Ineomlng Outgoing 31 December 2023 ruources resources 21)23 General funds 318.223 520,663 (81.8461 357.040 Purposes of. unrestricted funds The unrestri¢t¢d fvnds of the Trust are expendable at the discretion of the TnLY¢e¢s ill firfierance of the obje¢tives of the eharity. PAge 10