Charity number: 1080936 GLOBAL EVANGELICAL CHURCH, UK Trustees, report and financial statements for the year ended 31 December 2024
GLOBAL EVANGELICAL CHURCH, UK Contents Page Legal and administrative inforniation Truste¢s report Independent examiners, report Statement of fllmllcial activities Balance sheet Notes to the fanCIal statements 8-10
GLOBAL EVANGELICAL CHURCH, UK Legal and administrative information Charity number 1080936 Buslness address 55 Pathfield Road Streatham London SW16 5NZ Registered office 388 Streatham High Road Streatham London SW16 6HX TnteeS John Wogonnebu Mavis Gbewonyo ,Francis Dakpo Irene Fudzi Victor Modza Administrator Member Secretary Memb¢r Member Seeretsry Francis Dakpo Pastors Rev Ebenezer Newton-mensah Rev Edward Tetteh Rev Joseph Addo Accountants Eric & Co Chartered Certified Accountants & Registered Auditors 87 Tylecroft Road London SW16 4BJ Banker6 HSBC Bank 20-21 Electric Parade George Lane South Woodford London E18 2LX Page I
GLOBAL EVANGELICAL CHURCH, UK. Report of the trustees for the year ended 31 December 2024 The trustees pres¢nt their report and the financial statements for the year ended 31 December 2024. The trustees who served during the year and up to the dats of this report are set out on page l. Structure? governance and management The governing iDstrunient of the Charity is its adopted Constitution dated 26 September 1999. The day to day operation of the Charity is controlled and managed by the Trustees. Risk Management The Trustees have assessed the major risks to which the charity is exposed, in particular those relating to the operations and fmances of the Charity and are satisfied that systems and controls are in place to mitigate their exposure to the major risks. Objectlves and activities The principal objectives of the Charity are: (i) The advancement of the Christian Religion (li) The relief of poverty, sickness and distress Prayer programmes and retreats in additions to usual chUh services continue to be held to advance the Gospel of Jesus Christ in London and beyond The Trustees confirni that they have paid due regard to the guidance contain in the Charity Commission's general guidance on public benefit when reviewing the Trust's aims and objectives in setting the wt making policy for the year. Aehievements and performance The year proved to be very success1 in ternis of donations received and donations given. This is due to the ft that two new branches have been opened and members con)miiment to acquiring a place of worship.The Charity is also accumulating reserve towards the acquisition of a place of worship. Financial review The net surplus for the year, which were all from unrestricted funds, amountsd to £13,926 and addeded to the net incoming resources brought forward of £357.040. The total reserve GTled forward is £370,966. Tithes and offerings continue to be the main sources of income. There are still plans to acquire a place of worship. The policy on reserve is that a mininum of three months expenses are to be held in liquid funds and this level of reserves h&s been maintained during most of the period in question. Page 2
GLOBAL EVANGELICAL CHURCH, UK Report of the trustees for the year ended 31 Deeember 2024 Statement of trustees, responsibilities The trustees are responsible for preparing the Trustees, Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Law applicable to charities in England and Wales requires the trustees to prepe funCIal Statellnts for each financial year which give a true and fair view of charity and of the incoming resources and application of resources of the cbaiity for that year. In preparing these fitwicial statements the truste¢s are required to: sel¢rt suitable accounting policies and then apply them consistently" observe the methods and principles in the Charities SORP" make judgements and estimates that are reasonable and Pdent state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the fmancial statements: and prepare the fall¢la1 statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the fmancial position of the charity and enable them to ensure that the fu1¢la1 statements comply with the Charities Act 2011 and the Charity (Accounts and Reports) Regulations 2008. Th¢y are also responsible for safeguardirjg the assets of the charity and hence for tsking reasonable steps for the prevention and detection of fraud and other irregularities. On behalf of the board Mavis Gbewonyo Trustee Page 3
GLOBAL EVANGELICAL CHURCH, UK Independent examiner's report to the trustees on the unaudited fmancial statements of GLOBAL EVANGELICAL CHURCH, UIL I report on the accounts of GLOBAL EVANGELI&iL CHURCFL UK for the year ended 31 December 2024 set out on pages 2 to 10. Respective responsibilities of trustees and independent examiner As the charity's trustees you are responsible for the preparation of the accounts, you consider that audit is not required for the year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. It is my responsibility to examine the accounts under section 145 of the 2011 ACL to follow the procedures laid down in the General Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act, and to state whether particular matters have come to my attention. Basis of Independent examiner's statement My examination was carried out in ac¢ordan¢e with the General Directions given by the Charity Commission. examination includes a review of the a¢counting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, 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 no opinion is given as to whether the accounts present a 'true and fair view, and the report is limited to those matters set out in the statement below. Independent examiner's statement In connection with my examination, no matter has come to my attention: (i) which gives me reasonable cause to believe that in any material reSpt th¢ requirements: lo keep proper accounting records in accordance with section 130 of the 2011 ACL and to prepare awounts which accord with the accounting records and to wmply with the accounting requirements ofthe 201 L Act have not been met. or (li) to whicls in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Eric Ashong FCCA Independent examiner Eric & Co Chartered Certified Accountsnts & Registered Auditors 87 Tylecroft Road London SW16 4BJ Page 4
GLOBAL EVANGELICAL CHURCH, UK Statement of financial activities For the year ended 31 December 2024 Unrestricted funds 2024 Total 2023 Total Notes Incoming resources Incoming resources from generating funds: Voluntary income Investment income 83,567 11,035 83,567 11,035 112,530 8,133 Totsl Incoming resources 94,602 94.602 120,663 Resources expended Salaries , taxes and NIC Rent payable Miscellaneous and general expenses Welfare and hardship r¢li¢f Repairs & maintenance Insurance Communion expenses Pulpit allowance Church trip and travelling Bank charges Legal and professional fees Postsge, printing and stationery Honorarium and appreciation Refreshment and hospitslity Depreciation of musical instruments Depreciation of computer equipment Praise and worship Youth and sunday school expenses Training and development Evangelism Charitable donation and gift 17,992 16,521 866 4259 110 193 85 10,360 4,304 190 1.695 740 1,877 4,355 591 208 6,442 1,294 430 1500 6,664 17.992 16,521 866 4,259 iio 193 85 10,360 4,304 190 1,695 740 1,877 4J55 591 208 6,442 1.294 430 1,500 6,664 19.011 13,912 436 4,445 145 86 16,600 2,698 216 1,585 243 1,721 160 909 1,760 3,424 2,307 588 loo 11,500 Total resources expended 80.676 80,676 81,846 Net incoming resources for the year 13,926 13,926 38,817 The notes on pages 8 to 10 form an integral part of these financial statements. Page 5
GLOBAL EVANGELICAL CHURCH, UK Statement of fillaneial activities For the year ended 31 December 2024 Totsl funds brought forward 357,040 357,040 318,223 Total funds Carried forward 370,966 370,966 357,040 The statement of financial activities includes all gains and losses in the year and therefore a separate statement of total recognised gains and losses has not been prepared. All of the above amounts relate to continuing activities. The llotes on pages 8 to 10 form an integral part of these financial statements. Page 6
GLOBAL EVANGELICAL CHURCH, UK Balanee sheet as at 31 December 2024 2024 2023 Notes Fixed assets Tangible assets Currellt assets Debtors C&sh at bank and in hand 7.504 8.012 88,050 280,505 74.630 278,299 368,555 352,929 Creditors: amounts falling due within one year (5,093) (3,901) Net current assets 363,462 349,028 Net assets 370,966 357.040 Funds Unr¢stricted income funds 370,966 357,040 Total funds 370,966 357,040 The fanCIal statements were approved by the trustees on .. and signed on its behalf by John Wogormebu Trustee Mavis Gbewonyo Trustee The notes on pages 8 to 10 form an integral part of these financial statements. Page 7
GLOBAL EVANGELICAL CHURCH, UK Notes to financial statements for the year ended 31 December 2024 Accounting policies The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and the preceding year. 1.1. BASIS of accounting The fmancial statements are prepared under the historical cost convention and in accordance with the Statement of Recommended Practice 'AccountAng and Reporting by Charities, issued in March 2005 (SORP 2005) and the Charities Act 2011. 1.2. Incoming resourees All incoming resources are included in the statement of fmancial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income: Voluntary income is received by way of donations, off¢rings and tithes and is included in full in the ststement of fanCIal activities when receivable. Income from investments is included in the year in which it is receivable. 1.3. Resources expended Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recover¢d, and is reported as part of the expenditure to which it relates. Costs of generating funds comprise the costs associated with attracting voluntary income. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. 1.4. Tangible red assets and depreciation Tangible fixed assets are stated at cost less accumulated depreciation. Depreciation is provided at rates calculated to write off the cost less residual value of each asset over tts expected useful life, as follows: oirice and Computer equipment Musical instruments 250/0 reducing balance method 250/0 reducing balance method Voluntary income Unrestrieted funds 2024 Total 2023 Tolal Donations and offerings Tithes Charity tax credit 64,621 16,326 2,620 64,621 16,326 2,620 66,158 14,684 31,688 83,567 83.567 112,530 Page 8
GLOBAL EVANGELICAL CHURCH, UK Notes to fmancial statements for the year ended 31 December 2024 Investment income Unrestrieted funds 2024 Total 2023 Total Bank interest receivable 11,035 11,035 8,133 11,035 11,035 8,133 Employees Employmellt costs 2024 2023 Wages and salaries No employee received emoluments of more than £60,000 (2023 . None). 17,992 19,011 Number of employees The average monthly numbers of employees (including the trustees) during the year. cal¢ulated on the basis of 11 time equivalents, was &$ follows: 2024 Number 2023 Number Staff Office and. Computer Musical equipment instruments Tangible red assets Total Cost At l January 2024 Additions 20.973 71 26,154 220 47,127 291 At 31 December 2024 21,044 26,374 47,418 Depreciation At l January 2024 Charge for the year 15,690 208 23,425 591 39.115 799 At 31 December 2024 15,898 24,016 39,914 Net book values At 31 December 2024 5,146 2.358 7504 At 31 December 2023 5,283 2,729 8,012 Page 9
GLOBAL EVANGELICAL CHURCH, UK Notes to financial statements for the year ended 31 December 2024 Debtors 2024 2023 Other debtOTS Prepayments and accrued income 71,525 16,525 60.725 13,905 88,050 74,630 Creditors: amounts falling due within one year 2024 2023 Other creditors Accruals and deferred income 1,021 4,072 1,021 2,880 5,093 3.901 Analysis of net assets betsveen funds Unrestricted funds Tolal funds Fund balances at 31 December 2024 as represented by: Tangible fjxed assets Current assets Current liabilities 7,504 368,555 (5.093) 7,504 368.555 (5,093) 370,966 370,966 Unrestricted funds At At l January Incoming Outgoing 31 December 2024 resollr roUrceS 2024 General funds 357,040 94,602 (80.676) 370,966 Purposes of unrestrieted funds The unrestricted funds of the Trust are expendable at the discretion of the Trustees in rtherallcc of the objectives of the charity. Page 10