Trustees’ Annual report on Crown of Glory Church Receipts and Payments Statement from 1[st] April 2021 to 31[st] March 2022
We the trustees of Crown of Glory Church do submit the charity’s annual report from 1[st] April 2021 to 31st March 2022.
Our governing document is a constitution adopted on 24th February 1998.
Our charitable objects continue to remain the same: 1. Advancement of the Christian faith in the United Kingdom and Overseas and 2. Relief of the poor, sick, needy and aged. The Church continues to meet the needs of its members and the general public, which is to preach and teach the gospel of Christ in truth. In so doing the Church has worked hard to meet the spiritual and physical needs of the members and the general public. We do so by holding meetings in rented premises on each Friday and Sunday in our London branch. Our Wolverhampton branch which has been dormant for the past couple of years has finally been closed down. We will reopen the branch as soon as it becomes practicable enough to do so, so we can meet the church’s outreach goals. It is important to declare that our meetings and activities are open to people of any racial, cultural or ethnic origin. Throughout the year we have had to rely on the efforts of volunteers who have helped and supported the church’s activities in many ways, for example, witnessing to people during evangelism, setting up instruments for worship. Also, our trustees give up their time voluntarily and receive no remuneration or benefits.
Our youth group have not been that active this year. Owing to post-Covid downturn in attendance to events, the youth were not as vibrant as we have known them to be. We hope to re-organize them and get them functioning at the level they were at before Covid.
Again this year, our annual convention was held by means of an internet radio. It was an awesome experience and it attracted a very large congregation.
Our cash funds at the bank amount to £29,815.19 all of which is unrestricted funds. These funds are held to enable us to meet any unforeseen expenditure that may come our way, as well as hold it in reserve for future development, such as for the use of acquiring our own place of worship.
Our main sources of income continue to be members’ donations in the form of tithes, offerings and HMRC repayment claim.
We look forward to the year ahead in earnest expectation of sustainable progress.
The trustees declare that they have approved the trustees’ report above.
Signed on behalf of the charity’s trustees.
Signature: G M Asare
Full Name: Gilbert Mprah Asare
Position: Chair, Pastor
Date.. 26 February 2023.
Charity No:1084028 Receipts & Payments Account
CROWN OF GLORY CHURCH INCOME AND EXPENDITURE STATEMENT FOR YEAR ENDING
| Receipts | 2022 | 2021 |
|---|---|---|
| £ | £ | |
| Donation (Tithes & Pledges) Inland Revenue repayment Claimed Donation from radio listeners Interest Received from Bank Accrual Bank Transfer from savings |
20,768.00 - - 5,500.00 |
34,243.05 - - - |
| Total Receipts | 26,268.00 | 34,243.05 |
| Expenditure(payment) | - - 13,500.00 740.00 250.00 - - - 108.65 177.50 295.00 - - - - 275.00 - 8,400.00 - - 860.46 |
- - 16,200.00 270.00 - - - - 856.46 - - - - - - 1,000.00 - 5,250.00 - 300.00 396.50 |
| Evangelism Cost Premises expenses bank Charges/transfer Accountancy Cost Travel Cost Van Insurance repairs & maintenance road tax fuel visitations Van Hire Purchase Equipment Pastors appreciation strictly Education Church Support Mighty Radio Support Halifax Visa other expenses per statements Total Expenditure |
||
| 24,606.61 | 24,272.96 | |
| Net of receipts /(payments) Bank baalance a/c05297699 bank baalance a/c 0573434 Total funds Bank Balance b/f 1/4/2021 Current Year net movement Cash funds for this Year End Trustee: Rev: Gilbert Mprah Asre Stella McManus |
||
| 1,661.39 9,970.09 |
||
| 453.36 1,601.95 29,361.83 34,748.56 |
||
| 29,815.19 36,350.51 |
||
| 36,350.51 23,714.80 6,535.32 - 12,635.71 |
||
| 29,815.19 36,350.51 |
||
| Signature Signature Gilbert Mprah Asare Gilbert Mprah Asare Stella McManus Stella McManus |
Rev: Gilbert Mprah Asre Stella McManus Dated: 26/02/2022
Forming an opinion of Crown of Glory Church (Charity No. 1084028) Income and Expenditure Statement for Year Ending 31 March 2022.
I have examined the Income and Expenditure of the above organisation and report as follows:
Basis of Opinion:
The financial records have been thoroughly examined including bank statement relating to twelve months up to 31 March 2022.
Opinion:
In my opinion, the financial statement gives a true and fair view of the state of the charity’s affairs as at 31 March 2022 and of its surplus (deficit) for the year then ended. The accounts do not require an audit in accordance with part 16 of the company Act 2006.
Recommendations:
The records of the activities have improved but these transactions must be recorded in the template provided monthly. the following recommendations must be carried out in order to maintain good bookkeeping standards:
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The charity can benefit from recording its transactions using a simple accounting software and linking its bank accounts to such applications for ease of completing its returns.
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The charity has no fixed assets, therefore, must improve the record of its income and expenditure. The current account and savings reflect the current asset position.
-
The main balance sheet item is the movement in cash which also serves as the working capital.
Independent Examiner
Mr Charles Antwi (ACMA, CGMA)
CAB Financial Services Ltd.
35 St. Clair Road
London
E13 9DU
Dated 26/02/2023