Registered Company Number 04234547 (England and Wales) Registered Charity Number 1091111
REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
FOR
THE EVERLASTING ARMS MINISTRIES
THE EVERLASTING ARMS MINISTRIES
CONTENT OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
| Report of the Trustees | 1-5 |
|---|---|
| Independent Examiner's Report | 6 |
| Statement of Financial Activities | 7 |
| Balance Sheet | 8 |
| Cash Flow Statement | 9 |
| Notes to the Cash Flow Statement | 10 |
| Notes to the Financial Statement | 11-16 |
| Detailed Statement of Financial Activities | 17 |
THE EVERLASTING ARMS MINISTRIES
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
The Charity's object is the advancement of the evangelical Christian faith worldwide. Our strategy in fulfilling this objective in particular but not exclusively is to evangelise and spread the Gospel and the teachings of the Christian Faith by:
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Holding regular Worship Services in predefined themes to provide a bedrock for growing members in the Faith.
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Building a community of Spirit-filled Christians relationally connected in church life and cluster small
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groups nationally and internationally.
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Running regular Christian services in physical locations and via social media platforms. Running international versions of various aspects of The Everlasting Arms experience; the main expression that is fully operational is our International outreaches which mirrors the regular version of the initiative that we have held in the UK since inception.
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Our outreaches provide a unique experience for spirit filled Christians & seekers to experience God in an atmosphere that enhances barrier breaking prayers, heartfelt worship and prophetic declarations.
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In the past we have held successful sessions in India, Thailand, South Africa, Nigeria, USA, China, Ghana and other African countries.
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Promoting and supporting local and international Christian ministries and events. Producing and distributing of creative Christian media. Building and operating a Christian Bible-based Worship Centre in London, UK with the ability to serve other locations.
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Creating a Development Track for members that shows a clear transition from joining till they are developed to fulfil their God ordained purpose in society.
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Provision of Various Counselling and Pastoral Help Services.
Significant activities
Volunteers are involved in the activities conducted by The Everlasting Arms Ministries including:
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Operating Sunday, Mid-week, monthly services and monthly night vigils.
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Running international and national outreaches
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Running various life stage ministry events
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Visiting the Homeless, Elderly, Hospices, Prisons, orphanages and Medical Outreaches
Due to financial constraints, some of our actives are been held online which has expanded our outreach and enabled us to maintain the following initiatives:
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Running Sunday services at the church building, and Midweek and Monthly programmes online.
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Leading Small Groups in the UK and Internationally
In the consideration of our activities, the Trustees have given regard to the Charity Commission's guidance on public benefit.
Strategies
The Charity’s strategy for achieving this objective for the public benefit was:
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To reposition itself to effectively reach those presently outside of its dominant demographic and fulfil the vision of the
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church.
Significant activities that contributed to the achievement of these objectives were:
The charity has continued to organised events and activities in line with the charitable objectives to promote the Christian faith and at the same time helping privileged and disadvantaged within the local and international community these includes: Men of Influence Ministry Conference, TEAM Food Bank Project, About This Time Next Year (ATTNY) and Other Evangelism which is empowering young women to Aspire, Achieve and Acquire, Brothers Keepers International, Southwark Christmas Carol which organises Christmas Carols annually, bringing the local community together to celebrate Christmas as one family was conducted at the church building.
Medical outreach which addresses mental and stress issues,
Free Legal Counselling providing legal advice on immigration, housing etc., Wellness and mental health programmes helping to address stress issues, Domestic violence and single parenting, Chosen Generation - Youth Programme which attempts to engage the youths and keep them off the street and crime.
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Page 1
THE EVERLASTING ARMS MINISTRIES
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025
The charity has over 100 volunteers who support and make an invaluable contribution to the operations of the charity. Some of the key departments include:
Children Youth's Church Prayer Warrior Men of influence Evangelism Technical, video and Media Community Action WelfareFestival of Solution IT * Women of Destiny Prayer & Counselling Medical/Mental Health Financial Management and Anti-Poverty Empowerment Training Counselling, Coaching and Mentoring Education & Training Ushering and welcoming Counselling *Follow-up and Help ministry.
ACHIEVEMENTS AND PERFORMANCE FOR THE PUBLIC BENEFIT
The Charity, has continued to organises activities, events and meetings to promote its objects through the departments mentioned above.
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In the current year the Charity has achieved surplus as compared to the previous year.
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For the fifth year, the charity suspended its community support programme providing empowerment training due to
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financial constraints to allow the charity to restructure its financial position. The charity hopes to resume its community support programme in the future.
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The charity's international evangelism arm has remained suspended for the fourth year due to the present restructuring of
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its activities. The charity hopes to review the possibility of resuming this activity in the future.
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The Charity has engaged in impacting lives across the globe in the past by partnering with other organisations to help provide clean water, good medical services and agricultural support to people in impoverish areas of the World, especially
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India and Africa. However, the charity have decided to suspend this project again this financial year hoping to resume the project in the future when the charity is buoyant enough to do so.
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The charity Food Bank Project continued through out the financial year.
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Advisory Drop-In Centre, a multi-purpose centre providing legal, medical and unemployment advisory services, and
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supporting victims of domestic violence, mental, stress and depression was still been conducted remotely online to save cost.
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About This Time Next Year (ATTNY), an annual programme which brings gynaecologists and medical doctors together to
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advice women with infertility issues and other medical conditions was again conducted remotely via various social media platforms this year.
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IT training, captioned “Topping Your Career” delivering training and workshops on different areas of Information
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Technology for job seekers and those that want to learn basic IT skills in the local community has remain suspended until further notice.
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The Influencers: The annual Men of Influence Conference was held remotely via Zoom in the current financial year.
TEAM as a community strives to create an environment in which everyone is enabled to fully live out their true-life purpose by facilitating opportunities for development and the cultivation of God given gifts.
TEAM hopes to continue to undertake projects recognised locally and internationally.
Continued...
Page 2
THE EVERLASTING ARMS MINISTRIES
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025
FINANCIAL REVIEW
Principal funding sources
The Charity's principal funding source is from members and individuals who attend services and make contributions in the form of freewill offerings, tithes and other donations.
Investment policy and objectives
The trustees are of the opinion that the performance of the charity from a financial standpoint is in line with their expectations and plans for the charity.
Reserves policy
As at 31st March 2025, the level of reserves available for the Charity's use (i.e. unrestricted funds) was £2,683,657
These reserves are held to ensure that we can meet our commitments to providing our services and activities and staffing obligations in the event of a reduction or absence of funds/volunteer donations; and to meet some key events that are capital intensive e.g. About This Time Next Year (ATTNY), My Destiny Must Rise (MDMR) , Breakthrough Nights etc. or towards the acquisition of a permanent site or payment for venues.
FUTURE PLANS
The Charity continues to explore ways of furthering its charitable objectives in an effective manner by ensuring there is awareness of its services and by seeking opportunities to be more involved in the community.
The Charity seeks to provide services and activities that meet the needs of people and contribute to a positive change in the moral and spiritual climate in its environs, this reflects its Christian ethos and beliefs.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The Church is a charitable company limited by guarantee, incorporated on 14 June 2001 and registered as a charity on 14 March 2002. It is governed by its Memorandum and Articles of Association and is managed by a Board of Trustees. Decisions are determined by a simple majority vote by the Trustees who set the strategic direction of the Charity. Delegated authority has been given to the Visionary Pastor, the Executive Pastor and the implementation team led by the Resident Pastor for the day to day running of the operations of the Charity.
Recruitment and appointment of new trustees
Trustees are selected on the basis of the contribution that they will make to the governance of the organisation and the skills that they will contribute. They are provided with copies of the "Charity Commission's Guidance to Trustees" and are also provided with training as and when required.
Risk management
The Trustees review the major risks that the charity is exposed to at their meetings and are satisfied that systems are in place to manage the risks that have been identified. In particular, insurance cover is in place and the finances of the Charity are kept under review. Appropriate Disclosure & Barring Service check (DBS), supported by regularly reviewed policies are done for all those who work with children or other vulnerable groups with the Charity. Internal control risks are minimised by the implementation of procedures for authorisation of significant transactions and projects. Procedures are in place to ensure compliance with health and safety of members of staff, volunteers, clients and visitors to the Charity. Qualified and appropriately experienced employees are appointed and external consultants are engaged to advise on significant issues.
Continued...
Page 3
THE EVERLASTING ARMS MINISTRIES
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 04234547 (England and Wales)
Registered Charity number 1091111
Registered office
600-608 Old Kent Road London SE15 1JB
Aderibigbe Adesola Chair Olayinka Ogunnoiki Claudia Catherine Deigh Olatunde Sogbesan David Tolulope Babarinsa
Chief Executive Officer
Olukayode B.A. Owolabi
Bankers
Barclay Bank Plc 83 Wandsworth High Street London SW18 2PR
HSBC 184 High Street, Bromley Kent BR1 1HI
Solicitors
Wellers Law Group Tenison House Tweedy Road Bromley BR1 3NF
Independent Examiners
Helen Daniels Consulting Ltd Accountants and Registered Auditors 98 Coldharbour Lane London SE5 9PU
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Page 4
THE EVERLASTING ARMS MINISTRIES
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025
STATEMENT OF TRUSTEES' RESPONSIBILITIES
The trustees (who are also the directors of The Everlasting Arms Ministries for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charity SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether the applicable accounting standards have been followed, subject to any material departures disclosed and
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explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable
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company will continue in business.
It is the responsibility of the Trustees to ensure that proper books are kept and accounting records which disclose reasonable accuracy at any time of the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies.
Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
This report was approved by the board of trustees and signed on their behalf by:
Ade Adesola - Trustee
25 January 2026
Page 5
THE INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF
THE EVERLASTING ARMS MINISTRIES
YEAR ENDED 31 MARCH 2025
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2025 set out on pages 7 to 15.
Responsibilities and basis of report
As the charity’s trustees of the Company (who are also the directors of the company for the purposes of company law), you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (“the 2006 Act”). Having satisfied myself that the accounts of the Company are not required to be audited for this year under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (“the 2011 Act”). In carrying out my examination, I have followed the Directions given by the Charity Commission (under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
I am qualified to undertake the examination by being a qualified member of ACCA.
I have completed my examination. I confirm that no material matters have come to my attention which gives me cause to believe that:
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accounting records were not kept in accordance with section 386 of the Companies Act 2006; or
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the accounts do not accord with such records; or
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the accounts do not comply with relevant accounting requirements under section 396 of the Companies Act 2006 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent
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examination; or
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the accounts have not been prepared in accordance with the Charities SORP (FRS102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Helen Igbagi FCCA
Helen Daniels Consulting Ltd
98 Coldharbour Lane London SE5 9U
27 January 2025
Page 6
THE EVERLASTING ARMS MINISTRIES
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies 2 Investment income 3 EXPENDITURE ON Charitable activities 4 Support 5 Total NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
31.03.25 Unrestricted fund £ 241,608 245 241,853 80,808 177,509 258,317 (16,464) 2,693,594 2,677,130 |
31.03.24 Total funds as restated £ 260,194 1,466 |
|---|---|---|
| 261,660 81,904 168,266 |
||
| 250,170 | ||
| 11,489 2,682,105 |
||
| 2,693,594 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes form part of these financial statements
Page 7
THE EVERLASTING ARMS MINISTRIES
BALANCE SHEET FOR THE YEAR ENDED 31 MARCH 2025
| 31.03.25 | 31.03.24 | ||
|---|---|---|---|
| Unrestricted | Total funds | ||
| fund | as restated | ||
| Notes | £ | £ | |
| FIXED ASSETS | |||
| Tangible assets | 10 | 1,201,003 | 1,202,943 |
| CURRENT ASSETS | |||
| Debtors | 11 | 2,044,327 | 2,038,063 |
| Cash at bank | 14,902 | 67,122 | |
| 2,059,229 | 2,105,185 | ||
| CREDITORS | 12 | (143,122) | (174,553) |
| NET CURRENT ASSETS | 1,916,107 | 1,930,632 | |
| TOTAL ASSETS LESS CURRENT | |||
| LIABILITIES | 3,117,110 | 3,133,574 | |
| NET ASSETS | 3,117,110 | 3,133,574 | |
| FUNDS | |||
| Unrestricted funds | 2,677,130 | 2,693,594 | |
| Revaluation Reserve | 14 | 439,980 | 439,980 |
| TOTAL FUNDS | 3,117,110 | 3,133,574 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006 however, in accordance with Section 145 of the Charities Act 2011, the accounts have been examined by an independent examiner and their report has been included in these financial statements.
The directors (who are charitable company’s trustees for the purposes of charity law) acknowledge their responsibilities:
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ensuring that the charitable company keeps accounting records which comply with Section 386 and 387 of the Companies Act 2006 and
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preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of
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financial year and its net income or expenditure for each financial year in accordance with the requirements of Section 394 and 395 and which otherwise comply with requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The financial statements were approved by the Board of Directors and were signed on its behalf by:
Ade Adesola - Trustee
25 January 2026
Company number: 04234547 Charity number: 1091111
Page 8
THE EVERLASTING ARMS MINISTRIES
CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2025
| Note Cash flows from operating activities Cash generated from operations 1 Net cash provided by operating activities Cash flows from investing activities Purchase of tangible fixed assets Net cash used in investing Change in cash and cash equivalent in the reporting period Cash and cash equivalent at the beginning of the reporting period Cash and cash equivalent at the end of the reporting period |
31.03.25 £ (52,220) (52,220) - - (52,220) 67,122 14,902 |
31.03.24 as restated £ (52,547) |
|---|---|---|
| (52,547) | ||
| (2,575) | ||
| (2,575) | ||
| (55,122) 122,244 |
||
| 67,122 |
The notes form part of these financial statements
Page 9
THE EVERLASTING ARMS MINISTRIES
NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2025
1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
| Net income for the reporting period (as per the Statement of Financial Activities) Adjustment for: Depreciation charges (Increase)/decrease in debtors (Decrease)/increase in creditors Net cash provided by operations S OF CHANGE IN NET FUNDS At 1.4.24 £ Net cash Cash at bank 67,122 67,122 Total 67,122 |
31.03.25 £ (16,464) 1,940 (6,264) (31,431) (52,220) Cash flow £ (52,220) (52,220) (52,220) |
31.03.24 as restated £ 11,489 4,511 (1,222) (67,324) |
|---|---|---|
| (52,547) | ||
| At 30.3.25 £ 14,902 |
||
| 14,902 | ||
| 14,902 |
2. ANALYSIS OF CHANGE IN NET FUNDS
The notes form part of these financial statements
Page 10
THE EVERLASTING ARMS MINISTRIES
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention
Going concern
The trustees (who are the charitable company's directors for the purposes of company law) have assessed whether the use of the going concern basis is appropriate and have considered possible events or conditions that might cast significant doubt on the ability of the charity to continue as a going concern. The trustees have made this assessment for a period of at least one year from the date of approval of the financial statements. In particular the trustees have considered the charity's forecasts and projections and the possible implications should projected income and / or expenditure vary unexpectedly. The trustees have concluded that there is a reasonable expectation that the charity has adequate resources to continue to operate for the foreseeable future. The charity therefore continues to adopt the going concern basis in preparing its financial statements.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Furniture and Fittings - 25% Straight-line Office equipment - 25% Straight-line Motor vehicles - 25% Straight-line
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease
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Page 11
THE EVERLASTING ARMS MINISTRIES
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
2. DONATIONS AND LEGACIES
| Donations Gift Aid receivable Misc. Income Offerings Rental Income Special Offerings Tithes 3. INTERESTS RECEIVABLE Gift Aid interest receivable Interest Receivable 4. CHARITABLE ACTIVITIES COSTS Charitable activities 5. SUPPORT COSTS Management £ Other resources expended Management and administration Staff cost 90,836 Administration 55,791 Bank charges 1,271 Accrued interest (HMRC-PAYE liabilities) Independent examiner's fee - 147,898 6. NET INCOME (EXPENDITURE Net income (expenditure) is stated after charging/crediting Independent examiner's fee Depreciation - owned assets 7. STAFF COSTS Wages and salaries Employer national insurance |
Direct costs £ 80,808 Governance cost £ - - - - 2,000 2,000 |
31.03.25 £ 54,669 39,327 365 26,311 32,000 12,026 76,909 241,608 31.03.25 £ - 245 245 31.03.25 Total £ 80,808 31.03.25 Total £ 90,836 55,791 1,271 27,611 2,000 177,509 31.03.25 £ 2,000 1,940 31.03.25 £ 87,523 3,313 90,836 |
31.03.24 as restated £ 74,387 37,454 - 43,855 35,532 8,431 60,535 |
|---|---|---|---|
| 260,194 | |||
| 31.03.24 £ 609 857 |
|||
| 1,466 | |||
| 31.03.24 Total as restated £ 81,904 |
|||
| 31.03.24 Total as restated £ 90,836 56,361 1,703 17,366 2,000 |
|||
| 168,266 | |||
| 31.03.24 as restated £ 2,000 4,511 |
|||
| 31.03.24 as restated £ 87,523 3,313 |
|||
| 90,836 |
continued…
Page 12
THE EVERLASTING ARMS MINISTRIES
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
The average number of employees during the year was as follows:
| Ministry Administration |
31.03.25 1 2 3 |
31.03.24 1 2 |
|---|---|---|
| 3 |
There was no employee that received renumeration exceeding £60,000 during the period.
During the period under review, the Chief Executive Officer was paid £40,003 gross salary (2024 £40,003).
8. RELATED PARTY DSICLOSURE
During the period under review, the Deputy Senior Pastor was paid £40,500 (2024 £40,500) for providing managerial and pastoral services to the church on contract basis.
No remuneration was paid to the trustees during the period under review nor in the previous financial year.
There were no trustees' expenses paid for the year ended 31 March 2025 nor for the previous year.
There were no transaction with the trustees during the period under review and none for the previous year.
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Page 13
THE EVERLASTING ARMS MINISTRIES
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
9. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| INCOME AND ENDOWMENT FROM Donations and legacies Bank Interest EXPENDITURE ON Charitable activities Support costs Total NET INCOME RECONCILIATION OF FUNDS Funds brought forward Total funds brought forward (as restated) TOTAL FUNDS CARRIED FORWARD (AS RESTATED) |
Unrestricted fund 31.03.25 £ 241,608 245 241,853 80,808 177,509 258,317 (16,464) 2,775,342 2,775,342 2,758,878 |
Unrestricted fund as restated 31.03.24 £ 260,194 1,466 |
|---|---|---|
| 261,660 81,904 168,266 |
||
| 250,170 | ||
| 11,489 | ||
| 2,763,853 | ||
| 2,763,853 | ||
| 2,775,342 |
| E FIXED ASSETS COST At 1 April 2024 Revaluation At 31 March 2025 DEPRECIATION At 1April 2024 Charge for the year At 31 March 2025 NET BOOK VALUE At 31 March 2025 At 31 March 2024 |
Land and building £ 1,199,623 400,000 1,599,623 - - - 1,599,623 1,199,623 |
Plant and Machinery £ 119,253 119,253 115,933 1,940 117,873 1,380 3,320 |
Totals £ 1,318,876 |
|---|---|---|---|
| 1,318,876 | |||
| 115,933 1,940 |
|||
| 117,873 | |||
| 1,201,003 | |||
| 1,202,943 | |||
10. TANGIBLE FIXED ASSETS
A valuation of the Glengall property was obtained, indicating its current market value.
value of £1 million. This updated valuation has been reflected in the accounts, and a revaluation surplus account has been established to record the adjustment.
Secondly, the accumulated depreciation on land and buildings was written off to miscellaneous income to align the charity's accounts with industry standards.
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Page 14
THE EVERLASTING ARMS MINISTRIES
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
Church Equipment acquired in 2017, which are now fully depreciated, obsolete, and no longer in use, have been written off during the period. This adjustment has been made to accurately reflect the true state the Charity's asset position.
11. DEBTORS
DEBTORS: AMOUNT FALLING DUE WITHIN ONE YEAR
| Accrued income (Gift aid and Employer Allowance) DEBTORS: AMOUNT FALLING AFTER MORE THAN ONE YEAR Other debtors (Re: Property Development) |
31.03.25 £ 44,327 44,327 31.03.25 £ 2,000,000 |
31.03.24 as restated £ 38,063 |
|---|---|---|
| 38,063 | ||
| 31.03.24 as restated £ 2,000,000 |
In 2016, the Charity deposited £2 million with developers to acquire the Church Hall in a proposed building development complex. While construction has yet to commence and no timeline has been provided, the Charity has safeguarded its interest by registering a charge against the property. In the interim, the Charity is occupying the property pending the start of development.
12. CREDITORS
CREDITORS: AMOUNT FALLING DUE WITHIN ONE YEAR
| 31.03.25 £ Trade creditors - Accrued expenses Accountancy fee 570 Independent examiner's fee 2,000 2,570 2,570 CREDITORS: AMOUNT FALLING DUE AFTER MORE THAN ONE YEAR 31.03.25 £ PAYE (tax and NIC) liability 140,552 NT IN FUNDS Net At 1.4.24 movement as restated in funds £ £ Unrestricted funds General fund 2,693,594 (16,464) TOTAL FUNDS 2,693,594 (16,464) |
31.03.24 as restated £ - 570 2,000 |
|---|---|
| 2,570 | |
| 2,570 | |
| 31.03.24 as restated £ 171,983 |
|
| At 31.12.25 £ 2,677,130 |
|
| 2,677,130 |
13. MOVEMENT IN FUNDS
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Page 15
THE EVERLASTING ARMS MINISTRIES
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS ATION RESERVE Land and Buildings |
Incoming resources £ 241,853 241,853 |
Resources expended £ (258,317) (258,317) 31.03.25 £ 439,980 |
Movement in fund £ (16,464) |
|---|---|---|---|
| (16,464) | |||
| 31.03.24 as restated £ 439,980 |
14. REVALUATION RESERVE
A valuation of the Glengall property was obtained from 1st Choice Estate Agent, indicating a current market value of £1 million. This updated valuation has been reflected in the accounts, and a revaluation surplus account has been established to record the adjustment.
15. CONTROLLING ENTITY
There is no overall controlling entity.
Page 16
THE EVERLASTING ARMS MINISTRIES
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025
| INCOME AND ENDOWMENTS Donations and legacies Donations Gift Aid receivable Misc. Income Offerings Rental Income Special Offerings Tithes Investment income Gift Aid interest receivable Interest Receivable Total incoming resources EXPENDITURE Charitable Expenditure Counselling Evangelism and Conferences Services and Meetings Building Management and Establishment Expenses Management & Administration expenses Staff Costs Salaries Employer NI Administration expenses Accountancy Fees Insurances Legal and Professional Consultancy Electricity Supply Gas Supply IT and Broadband Management Cost Misc. Expenses Software Subscriptions Subscrriptions Telecommunication Depreciation Finance HMRC-Penalties and Accrued interest Bank Charges PDQ Bank Charges Governance Independent Examination Total resources expended Net income/expenditure |
31.03.25 £ 54,669 39,327 365 26,311 32,000 12,026 76,909 241,608 - 245 245 241,853 2,806 3,780 69,306 4,916 80,808 87,523 3,313 90,836 570 2,790 - 36,000 3,102 100 1,236 8,100 895 561 185 312 1,940 55,791 27,611 516 755 28,882 2,000 258,317 (16,464) |
31.03.24 £ 74,387 37,454 - 43,855 35,532 8,431 60,535 |
|---|---|---|
| 260,194 609 857 |
||
| 1,466 | ||
| 261,660 | ||
| 2,475 161 71,684 7,584 |
||
| 81,904 87,523 3,313 |
||
| 90,836 570 433 80 36,000 3,679 349 766 8,100 667 561 372 275 4,511 |
||
| 56,361 17,366 582 1,122 |
||
| 19,069 2,000 |
||
| 250,170 | ||
| 11,489 |
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