GATESOFPRAISE
Knowing Jesus and making Him known!
2022 Annual Report of Activities

## **Welcome** 

Welcome to our Annual Report for the year 2022. 

2022 started slowly as the country was fully coming out of the lockdown and dealing with the aftermath of the pandemic.  The leadership and the entire Church members are ever so grateful to God for His protection and faithfulness to us and for His love and provision over the years and in particular the last two years of the pandemic. 

The theme for the year was ‘ **Spiritual Restoration** ’ with the lead scripture in Joel 2:25 – “So I will restore to you the years that the swarming…. “ 

Always, my appreciation goes to all who have contributed in various ways to facilitate the vision of the organisation considering the changes we had to apply due to COVID-19. God has truly been grateful. 

I particularly appreciate the technical team, the worship team and some key individuals who were outstanding in the year as always. I believe God will surely reward their labour of love and I am convinced our better years remain ahead of us. My appreciation also goes to the members and external volunteers who faithfully gave their time (the Community Support Team - Foodbank) and gave financially to support the work of the ministry. 

This report will give you an insight into how we served our congregation and endeavoured to make a difference in our local community post pandemic and lockdown. Included in the last few pages of this report is our 2022 End of Year Tax Account. 

Once again, a big thank you to all GOPIC members, leaders and workers and friends for their continuous support and sacrificial contributions over the last year. 

For further information, please contact us on 01375 377853 or 07886 517 683 or email us at admin@gopic.org. 

Yours sincerely, 

Akin Laosun Trustee/Lead Pastor Gates of Praise 



## **Introduction** 

We continued in our custom of having monthly themes to lead and guide us throughout the year. Activities i.e., programs, messages, prayer etc. are geared towards these themes. As noted in the opening of this report, the year 2022 was tagged ” Spiritual Restoration ““ **So I will restore to you the years that the swarming[[][a][]] locust has eaten, The crawling locust, The consuming locust, And the chewing locust, My great army which I sent among you..” Joel 2:25** 

## **The Organisation** 

Gates of Praise is a charitable company limited by guarantee, incorporated on 29[th] October 2001. The organization was registered as a full UK charity on 8[th] February 2006. The aim of the organization is to advance the Christian Faith through the teaching of the Word of God, showing God’s love in a practical way in our community and carrying out benevolent missionary work in less privileged and war-torn countries. We aim to provide financial assistance for food, clothing, shelter, medical supplies, training, community development and care in these regions. 

Our current Trustees are listed below: 

- **Akin Laosun, Essex, UK** 

- **Olaniyi Olaosebikan – Aberdeen, UK** 

- **Babatunde Olugbenga – Essex, UK** 

- **Olumide Akinsola, Kent, UK** 

- **Kayode Olabisi, Essex, UK** 

- **Folashade Braimoh, Essex, UK** 

The organization operates from a facility which houses all our activities and serves as the organization’s international head office. The address is – The Centre, 79-83 London Road, Grays, RM17 5YF.  The facility was fully operational and we held all our services and inhouse community activities on site up until 15 March 2020 and from 2021. It is about one hundred yards from the mainline train and bus stations. The membership was at that point steadily growing with an average weekly attendance of 130 congregants. 

Our current activities while still on-line due to the new way of doing things due to the pandemic, returned fully to in-person services. However, we constantly review our programs to ensure that we preach the love of Christ to everyone within our reach. 



## **Charity Activities & Highlights for the Year – Spiritual Restoration’** 

At Gates of Praise, our dreams, desires and deeds are to represent and propagate the life of Jesus Christ and to live exemplary lives that will honour God and point people to Him. 

## **Key: Special (S), Yearly (Y), Monthly (M) and Weekly (W) Activities:** 

## **Crossover Service (Y)** 

It is always a joy for us to enter into the New Year in the presence of God as and as is our custom, the Church entered into 2022 with our Crossover Service tagged **‘Spiritual Restoration’** . This commenced on 31[st] December 2021 at 9:00pm as we ushered in the New Year 2022 closing at around 1:30 am. The crossover this year was fully back to inperson services and majority of the members (previously watching from home) and new members attended and physically came into the Church premises. As always, there was music, prayers and ministration of the Word of God and music ministration by a guest worship leader with GOPIC worship team. We engaged in prophetic declarations and confessions as we crossed over into 2022. As a Church, we remained very expectant and we went into the New Year and continued to enjoy God’s divine grace and protection like never before in what was quite a difficult couple of years. This is a yearly event. 

## **Homeless Winter Night Shelter (Y)** 

The Night Shelter remained on hold in 2021/22. This is an initiative in conjunction with Thurrock Council and some other local Churches. The Church however supported anyone that approached as homeless by providing them with basic toiletries and foodstuff including bedding where we could. Gates of Praise started hosting the homeless night shelter in October 2019. 

Gates of Praise usually hosted guests every Thursday from January – March. This is a community initiative born out of showing the love of Christ in our community as per the vision, mission and values of Gates of Praise Church. We provide a warm place for homeless people to sleep with a living space and also provide a hot meal in the evening and breakfast in the morning. The Church is blessed with Volunteers who give up their night to attend to carry out different shifts of evening shift (setting up, cooking and cleaning), Night shift (staying overnight to oversee the guest and ensure all is well) and the morning shift to prepare breakfast and clean up) 

## **Fasting & Prayer (M):** 

The Church continued with corporate fasting and prayer for the first 3 days of the month on a monthly basis.  We re-dedicate our lives and commit the month ahead to God. We have different monthly focus and everyone is challenged to live a life worthy of God’s praise. The focus for each month is listed in the Appendix section of this 



report. Spectacular testimonies usually follow and these testimonies are shared during our prayer vigil nights. God indeed proved and continues to prove Himself faithful to His word in our lives and in our midst at Gates of Praise. Following the pandemic and lockdown, people got used to online meetings  however the church returned to inperson services and carried on despite the low in-person attendance though online zoom continued to meet the needs of those not able to come in and those who preferred to stay at home. 

## **Prayer Vigil tagged Overcomers’ Night (M):** 

As it was a practice with Jesus for praying late into the night and even sometimes into the morning, we continued this practice as a way of sharpening our focus on the Lord, bringing our petitions before God and agreeing with one another in prayer. We held this vigil twelve times in 2022 as we have this session every first Friday of the month. This is conducted in the Church Sanctuary though not well attended, online zoom is also available to those who prefer to remain at home. As a Church, we believe that if we are spiritually intact, the physical manifestations will correspond. The leading from the Lord is that it is the Spirit that gives life. The meeting is held between 10:30 pm to 1:00am. The power of prayer in Christ is potent and there are tangible changes when prayers are offered in faith. Our coming together also offers us the opportunity to pray in agreement for our Borough and the nation as a whole. 

We also share testimonies to give glory and thanks to God and to encourage one another during these sessions. To the glory of God, several encouraging and uplifting testimonies followed. 

## **Life Group (M):** 

The online Zoom Life group meetings continued in 2022. The aim of the life group is to get members grounded and discipled with their welfare as priority so that no one will be missed out and Life group members can watch out for one another. This while it proved very supportive and encouraging and enabled members to bond better, we are hoping with time we can get back to this as having it online and with very few people, we only have a combined session as there are not enough people to break out into sessions. Our prayer is that we will get back to that point with time. 

## **Sunday Worship (W):** 

As an essential part of our faith, we usually meet every Sunday to fellowship and our meetings are usually refreshing times of praise, thanksgiving, testimonies and teaching of God’s Word. Essentially, these meetings promote our spiritual growth and prepare us to be witnesses for Christ.  The Sunday meetings are wonderful times of fellowship that help to develop relationships and create other networking opportunities that promote unity and love within the members and the community.  In 2022, the Church had 52 Sunday Worship Meetings which was held in the Church premises and online via YouTube. These 



were refreshing and faith building times. While some members remained watching the services online, new members continued to join the Church and attended in person. In the month of July, we usually have a very interactive question and answer sessions. We did this differently this year by having the interactive sessions on Wednesdays in July 2022 The family day remained on hold however the plan is for this to resume in 2023. 

For Mother’s Day 2022, the Church as we did in the past celebrated all the mothers by decorating the building and gave gifts to the mothers and women in the house. On Easter Sunday also, the church sanctuary was decorated to reflect Easter and Easter eggs were given to all the children. 

## **Mid-week Service/Bible Study Meeting (W):** 

In 2022, Midweek service combined with the Bible study session returned in full and was held in the Church Sanctuary though online Zoom was also available. This took place every Wednesday. The scriptures recommend that believers should study and learn together. The study session is one of the keys to the development and achievements of individual members and our Church Ministry. It is also important to every aspect of Christian duty and faith. These sessions are interactive, refreshing and educative and help the believers to be grounded in Christian doctrine and truth. This year, we continued to deal with topical issues and the doctrines of Christ including how believers should live, walk with and work for God in our different callings and following the monthly themes. 

## **Intercessory Prayer (monthly)** 

In 2022, intercessory prayers for our nation, our Borough, Government Authorities, church members and other specific prayer points were made on a monthly basis and while there are some key members of this team, all church members are welcomed to pray. This held online via free conference calls. We believe that there is power in corporate prayer. 

## **Evangelism (W)** 

The commission given by Christ is to go into the world, preach the gospel and make disciples of all nations. Our Evangelism department tagged “Reach & Touch” is one of the social and community outreach units of the church.  In 2022, the team rebranded and kickstarted their outreach in the Community and around the Church location. 

The Evangelism team in 2022 also took time to pray and re-strategize on the way forward. They adopted more prayer time, targeted leafleting, Social Media campaigns and word of mouth to reach out to souls. 

They went out every fortnight to evangelise. Towards the last quarter of the year unfortunately due to the leader of the team being unavailable not much was done in terms of evangelising. 



As a Church, we continued to focus on our community outreach via the Foodbank reaching out to those in need God’s love. We also signpost individuals to other services in the community that will meet the identified needs. We are always conscious of what the Lord expects and we do this by practically reaching out to the needy. The Foodbank remained open all through the year and continues to go on strong. 

The Foodbank remained opened with safety measures put in place and still maintaining social distancing rules all through the year. All glory to God and thanks to both Church volunteers and external volunteers that assisted in the success of the Foodbank. There were great testimonies received of the services provided at the centre and how guest users found the volunteers very helpful and the atmosphere very welcoming. 

## **Strength – Men’s Ministry:** 

Gates of Praise Men’s ministry “Strength” aims to build relationship amongst men in the Church and to extend this to other men in the community. The ministry provides refreshing times of fellowship in the light of the scriptures on topics like, ministry, prayer, important national issues, development training, financial and investment insights, employment trends and issues, marriage, home and children upbringing etc. Strength aims to raise a complete God-fearing man who will reach out to those who need God’s love and be a role model both in the home and in the community.  The men held monthly online Zoom meetings all through the year. 

Strength, the Men’s Ministry aim to build and raise men who would not compromise their faith in the face of challenges and temptations. Men who would represent Christ and be counted for the truth. New leadership was put in place for the Men’s Ministry and they are beginning to revive the Men’s Ministry. The men had a barbeque in the summer and for Father’s Day they were all given gifts. 

The men had a Health Awareness Seminar this year which was very insightful and beneficial to all. 

## **Jewel - Women’s Ministry:** 

The Women’s ministry was very involved in the Church Corporate prayer meetings leading the sessions  and re-started  the women’s prayer meeting on a monthly basis. Also, some of the women are very involved in the Foodbank attending every Saturday on a rota basis. 

No events were planned this year except for a retreat for the Jewel Coordinators. Unfortunately, the retreat did not hold as members were still sceptical of getting together. 

Jewel remains a strength to the Church. 



## **E2O (Equipped to Overcome) - Youth Ministry** 

The Youth ministry restarted in April  2022 after Easter with new Leadership.  The new team consists of teenagers from 13 to 19 years old. They started meeting  weekly on Sundays in the Conference room in the Church.  They also all went out for a meal as a bonding event. 

The leadership of the Church continues to encourage and empower our young ones to be part of the vision and what God is doing at Gates of Praise and in the community of Thurrock at large.  The E2O Youth group did a music and dance presentation for the Church at Christmas which was particularly good and well received by the entire Church. 

## **Sanctified - Single’s Ministry:** 

The Single’s Ministry of Gates of Praise, Sanctified were with the Women and Men’s Ministry and did not have any stand-alone programs in 2022. 

## **For This Cause - Couples Ministry** 

The Couples ministry had a 2-day online seminar which included Q&A and was very successful. 

## **Treasured Families - (W):** 

Treasured Families, GOPIC parent and toddler group unfortunately remained suspended and also the pandemic and post pandemic did not help in reviving the parent and toddler group. We continue to pray that God will make a way for the Church to restore this very useful community project. 

## **School Holiday Programme for Children** 

The Children had 2-day Easter program with different activities lined up for the children. They had fun making slime decorating cookies and T-shirts.  This was successful with a few children being part of it. 

## **GOPIC Worship Team** 

This year, the worship team members reduced in numbers significantly following the lockdown and some people leaving the Church, moving on to other ministries or online. This impacted the team and sometimes we only had one worship team member on a Sunday leading the Church in worship. The reduced team however continued to use their best endeavours to support the lead Pastor and the other Church members  and in 



providing worship broadcast for Sunday Services where they can. The midweek services were not covered very well understandably due to the reduced number of the team members. The Church has also had to invite guest worship leaders to support the team. The Church had 4 Sundays with invited guest artistes and at the Crossover service. 

The Church also had a joint collaboration with Sam Fred who had a time of worship concert at the Church with church members and people from the community attending. It was a remarkably successful event. 

The worship team fulfilled its primary mission of leading the congregation in worship on a weekly basis and at the Church’s monthly prayer vigil and other events held by the church. 

## **Tea and Chat:** 

This open-door Community drop-in centre remained closed in 2022 however every Thursday from 12 noon to 1pm the Church held a lunchtime prayer hour which is open to all members and anyone in the community requiring prayer. The Church is also open to anyone who wanted to drop in to speak to any of the Pastors at any time throughout the year. 

## **Welfare Team - Support to Church Members:** 

Gates of Praise continued to remain committed to ensuring that the general wellbeing and welfare need of the Church members are met in 2022, as well as the spiritual wellbeing, the emotional and mental wellbeing including financial wellbeing of members remained our key priority especially post pandemic with the very high costs of living in support members requiring assistance and those who needed other types of support and prayers. 

In 2022, unfortunately the Church family were bereaved of a Church member who was also mother to another member. The church rallied round and supported the family in giving Late Mrs Helen Omo-Olaye a befitting send-off funeral. 

## **Other Activities:** 

The Church held a Leaders and Workers Training with an invited guest speaker Pastor Wale Olawanle in March 2022 and had Water Baptism for nine members in April 2022. New members also joined the Church resulting in an increase. 

## **Soul Uncluttered:** 

The Church started a listening service with the assistance of a qualified psychotherapist who is a member of the Church. This service was slow in kicking off however is still open to members. 



## **Support to other Charities:** 

As in previous years, Gates of Praise continued to partner with Charity organisations operating in Africa and Asia e.g. Tearfund, Sight Savers International etc. In addition, the ministry made monthly donations to UK Charities including Little Havens Children’s Hospice and Samaritans’ Purse. The Church did not carry out any fundraisers in 2022 however, we continued to on a monthly basis, after our fasting and prayer, to collect donations for children’s charities. 

## **Income and Donations:** 

Gates of Praise is blessed with wonderful and compassionate members who are committed to giving cheerfully and sacrificially to fund the charity activities. All donations come from congregation members who are based in the United Kingdom. 



## **Appendix A: Monthly Themes/Focus** 

**January 2022 – POWER – Acts 1:8 February 2022 – HOLINESS – Obadiah 1:17 March 2022 – RIGHTEOUSNESS – 2 Corinthians 5:21 April 2022 – ETERNAL LIFE – John 3:16 May 2022 - FAITH – ROMANS 1:17 June 2022 – FEAR OF GOD – Proverbs 9:10 July 2022 – LOVE – John 13:34 August 2022 – SPIRITUAL GIFTS – 1 Corinthians 12:4 September 2022 – CHURCH GROWTH – Acts 9:31 October 2022 – WEALTH – Deuteronomy 8:18 November 2022 – INFLUENCE – Matthew 5:13 December 2022 – JOY – Luke 2:10** 



GATES OF PRAISE INTERNATIONAL CHRISTIAN CENTRE Report and Accounts 

**3 Worcester Avenue, Old Swan, LIVERPOOL L13 9AZ t: 01513647913 e: aamatthew@aol.com** 




|**Contents**|**Page**|
|---|---|
|Company Information|**1**|
|Trustees' Annual Report|**2-6**|
|Independent Examiner's Report|**7**|
|Statement of Financial Activities|**8**|
|Balance Sheet|**9**|
|Cash Flow Statement|**10**|
|Notes to the Accounts|**11-16**|
|**The following page does not form part of the Statutory Accounts**||
|Detailed Statement of Financial Activities with Comparatives|**17**|





**Gates of Praise International Christian Centre Trustees' Annual Report for the Year Ended 31 December 2022** 

## **Company Information** 

|**Charity Name:**|Gates of Praise International Christian Centre|
|---|---|
|**Directors/Trustees:**|Rev Akin Laosun|
||Mr Olaniyi Olaosebikan|
||Mr Kayode Olabisi|
||Mr Akinlolu Akinsola|
||Mrs Carole Laosun|
||Mrs Folashade Braimoh|
|**Secretary:**|Mrs Carole Laosun|
|**Governing Document:**|Memorandum and Articles of Association|
||dated 23 December 2005|
|**Charity Commission No:**|1112960|
|**Company House No:**|04312876|
|**Registered Office and**|The Centre|
|**Operational Address:**|79-83 London Road|
||Grays, Essex|
||RM17 5YF|
|**Accountants:**|AA Matthew & Co|
||Newspring House|
||3, Worcester Avenue|
||Old Swan|
||Liverpool|
||L13 9AZ|
|**Bankers:**|HSBC|
||53 High Street|
||Grays Essex|
||RM17 6NH|



**Page 1** 



**Gates of Praise International Christian Centre Trustees' Annual Report for the Year Ended 31 December 2022** 

## **Objects of the charity** 

The main charitable objectives of Gates of Praise International Christian Centre as set out in the objects contained in the charity's declaration of trust are: 

To advance the Christian religion and to relieve poverty and sickness in accordance with Christian principles in the United Kingdom and in such other parts of the world as the Trustees may from time to time think fit.  We aim to provide financial assistance for food, clothing, shelter, medical supplies and care in these regions. 

The aims of our charity are to preach the gospel  in the county of Essex with an operational focus in Grays, Thurrock, Essex. Our aims fully reflect the purposes that the charity was set up to further. 

## **Ensuring Our Work Delivers Our Aims** 

We review our aims, objectives and activities each year. This review looks at what we achieved and the outcomes of our work in the previous 12 months. The review looks at the success of each key activity and the benefits they have brought to those groups of people we are set up to help. The review also helps us ensure our aims, objectives and activities remained focused on our stated purposes. We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives they have set. 

## **The Focus of Our Work** 

Our main objectives for the year continued to be the advance of the Christian religion and the relieve of poverty and sickness. The strategies we used to meet these objectives included: 

1. Provision of Weekly Church Services on Sunday to minister to the physical, spiritual and material needs of the congregants. 

2. Provision of Special Events and Meetings to meet the specific needs of target groups in the Church such as Men, Women, Youth and Children. 

3. Focusing on the Material needs of certain members undergoing  difficult financial situations. 

4. Working with other Christian agencies and Churches in Essex to advance the preaching of the Gospel. 

5. Provision of Pastoral Care for Congregants and other members of the community 

6. Missionary and Outreach Work 

**Page 2** 



## **Gates of Praise International Christian Centre Trustees' Annual Report for the Year Ended 31 December 2022** 

## **Financial Review** 

The trustees approve an annual budget and give regular attention to financial results, variance from budgets and cash flow. Income was principally derived from the generous gifts and voluntary support of members of the Chariry. 

For the year, the charity's income (including recoveries of gift aid) was £146,251 (2021: £120,349) and its expenditure was £152,524 (2021: £127,278), which resulted in a Deficit of £6,273 (2021: deficit of £6,929). 

The trustees have considered the Charity’s current financial position and projections for the coming 12 months. The trustees are satisfied that the charity is and will remain solvent through that period. 

## **Principal Funding Sources** 

The principal funding sources for the charity are currently by way of Donations and Gifts from congregants through the offering basket passed during Church services 

## **Reserves Policy** 

The Board of Trustees has examined the Charity's requirements for reserves in light of the main risks to the organisation. It has established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets held by the charity should be between 3 and 6 months of the expenditure. 

The expenditure for Year ended 31st December 2022 is £152,524  and therefore the targeted reserves should be between £38,131 and £76,262 in general funds. The reserves are needed to meet the working capital requirements of the charity and the trustees are confident that at this level they would be able to continue the current activities of the Charity in the event of a significant drop in funding. This general reserve policy has not been met this year as in previous years. 

## **Plans for Future Periods** 

The Charity continues to explore ways of furthering its charitable objectives in an effective manner by ensuring there is awareness of its services and getting more involved in the community in which it operates. The Charity seeks to provide services and activities that meet the needs of the people and this reflects its Christian ethos and beliefs in order to effect change in the moral and spiritual climate of United Kingdom, and the other countries the Charity intends to have a presence. Plans are also being developed to become more active within the Gray's community. 

## **The Charity and Covid-19** 

The Covid-19 pandemic has had a profound impact on Gates of Praise International Christian Centre since the introduction of control measures in March 2020. The Charity has had to adapt its operating model and religious practices to cope of with a physically dispersed congregation. These adjustments were most acute for our congregation, who are primarily from disadvantaged and low-income backgrounds, including millennials and senior citizens. 

The effect of the pandemic has necessitated significant investment in digital insfrastructure to enable smooth running of church operations to meet congregational needs. 

The implications on Church life have become most severe in the below areas: 

- a. Inability to physically visit congregation members at hospitals and those in care; 

- b. Cancellation of face-to-face worship services, including weddings, festivals and funerals; 

- c. Cancellation of missions and pilgrimages; 

d. Deterioration in mental health and wellbeing of those in isolation, particulary elderly congregation members; 

e. Diminished sense of community and engagement with worship. 

As we begin to emerge from an extended period of sheltering and social distancing, there are residual concerns about attendance, engagement and income. 

**Page 3** 



## **Gates of Praise International Christian Centre Trustees' Annual Report for the Year Ended 31 December 2022** 

We have set out below interventions undertaken to mitigate the impact of the pandemic on worship, income and community engagement: 

a. Provision of Hybrid Services: Church services, programs and teachings have been delivered online since restrictions were put in place by the government. However, during the period of relaxed restrictions, the charity operated with limited capacity and therefore continued to provide online services simultaneously. 

- b. We broadcast from the church building and other locations using collaboration tools (Zoom) and social media platforms (Youtube, Facbook, Twitter and Instagram). 

- c. Sensitization of church members on use of online platforms to make donations. 

## **Structure, Governance and Management** 

## **Governing Document** 

The Organisation is a charitable company limited by guarantee, incorporated on 29th October 2001. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company wound up members are required to contribute an amount not exceeding £10. 

## **Recruitment and Appointment of Trustees** 

The directors of the company are also charity trustees for the purposes of charity law and under the company's Articles are known as trustees. Under the requirements of the Memorandum and Articles of Association the trustees are elected to serve for a period of three years after which they must be re-elected at the next Annual General Meeting. 

All trustees except the Senior Pastors' give their time voluntarily and receive no benefits from the charity. 

Due to the nature of Charity work, trustees appointed have been so selected on the basis of their faith, strength of Character, skills set in the area of business management and growth and commitment to the vision of the charity. 

## **Trustees Induction and Training** 

Most trustees are already familiar with the practical work of the charity. Additionally new trustees would be invited as required and encouraged to attend a series of short training sessions to familiarise themselves with the charity and the context within which it operates. These sessions would be jointly led by the Chair of Trustees and the Chief Executive or Senior Minister of the Charity and cover: 

The Obligations of Trustees 

o The Main documents  which set out the operational framework for the charity including the Memorandum and Articles. 

Resourcing and the current finanicial position as set out in the latest published accounts Future plans and objectives 

A Question & Answer pack would be prepared which draws information from various Charity Commission publications signposted through the Commission's guide "the Essential Trustee" as a follow up to these sessions. This will be distributed to all new trustees along with the Memorandum and Articles and the latest financial statements. 

**Page 4** 



## **Gates of Praise International Christian Centre Trustees' Annual Report for the Year Ended 31 December 2022** 

## **Risk Statement** 

The trustees recognise the importance of assessing and managing risk associated with the charity's objectives. The process of identifying risk is on-going and is an essential part of the work of the trustees and Management Team. The charity has a set of comprehensive policy and procedure documents in place to ensure on-going identification and management of foreseeable risks. 

Financial risk is mitigated through the adoption of comprehensive budgeting and reporting processes. Policy documents relating to risk and compliance issues are reviewed and updated annually. Current policies include: 

1. Safeguarding children and vulnerable adults 

2. Health and safety 

3. Equal opportunities 

4. Purchasing 

5. Fire safety and evacuation 

6. Employment including complaints and disciplinary issues 

7. Privacy and data protection 8. Complaints 9. Finance Processes 10. Conflict of Interest 

The trustees and staff have been aware of their responsibilities with regard to the new GDPR regulations and action has been taken to ensure compliance. 

## **Organisation** 

Gates of Praise International Christian Centre is governed  by a  Board  of Trustees elected to serve the charity and run its affairs. Annually the Board reviews the range of skills it has available and uses its power of co-option to ensure that gaps are filled. There are a  number of other  criteria that a trustee must meet. The Board of Trustees are assisted by the Department leaders. There are two trustees on the Board of Leaders. 

The Board of Trustees  meet quarterly and are responsible for the strategic direction and policy of the Charity. A scheme of delegation is in place and day to day responsibility for the provision of the services rest with the Senior Pastor who is also the Chief Executive. He is ably assisted by an adminstration staff who implement day to day operations. The adminstrative team continue to develop their skills and working practices in line with good 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 trust  as  at  the balance sheet   date  and  of  its  incoming  resources  and  applications of  resources,  including  income and and expenditure, for the financial year. In preparing those financial  statements the Trustees should follow best practice and: 

o  Select suitable accounting policies and then apply them consistently; 

o  Make judgements and estimates that are reasonable and prudent 

o  Prepare the financial statements on the on going basis unless it is in appropriate 

to presume that the charity will continue in business. 

**Page 5** 



## **Gates of Praise International Christian Centre Trustees' Annual Report for the Year Ended 31 December 2022** 

## **Organisation** 

The Trustees   are  responsible  for   maintaining   proper  accounting records   which  disclose  with reasonable  accuracy at  any time  the  financial position  of  the charity and enables them to ensure that the financial statements comply with Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charity and hence for taking  reasonable  steps for the prevention and detection of fraud and other irregularities. 

## **Members of the Board of Trustees** 

Members of the Board of Trustees, who are directors for the purpose of company law and trustees for the purpose of charity law, who served during the year and up to the date of this report are set out on page 1. 

In accordance with company law, as the company's directors, we certify that: 

So far as we are aware, there is no relevant information of which the company's accountants are unaware; and as the directors of the company we have taken all steps that we ought to have taken in order to make ourselves aware of any relevant information and to establish that the Charity's accountants are aware of that information. 

This report has been prepared by the Order of Trustees: 

## **Rev Akin Laosun Director/Trustee** 

28th September 2023 

**Page 6** 



## **Gates of Praise International Christian Centre Independent examiner’s report to the trustees of Gates of Praise International Christian Centre for the Year Ended 31 December 2022** 

I report to the charity trustees on my examination of the accounts of Gates of Praise International Christian Centre for the year ended 31 Decemer 2022 on pages 8 to 17 following, which have been prepared on the basis of the accounting policies set out on pages 11 and 12. 

## **Responsibilities and basis of report** 

As the charity’s trustees of the Company (and also its directors 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 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** 

The Charity’s gross income did not exceed £250,000 therefore our examiner need not be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a Fellow of the Association of Accounting Technicians, which is one of the listed bodies. 

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: 

1. accounting records were not kept in respect of the Charity as required by section section 130  of the Charities Act  2011; 2. the accounts do not accord with those records; or 

3. the accounts do not comply with the accounting requirements of  2011 Act  other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination; or 

4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). 

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. 


## **Mr Matthew Okuboyejo FCA, MAAT** 

Association of Accounting Technicians 

AA Matthew & Co Newspring House 3, Worcester Avenue Old Swan Liverpool L13 9AZ 

28th September 2023 

**Page 7** 



## **Gates of Praise International Christian Centre Statement of Financial Activities (including Income and Expenditure Account) for the Year Ended 31 December 2022** 

|**Notes**<br>**Incoming resources**<br>Incoming resources from generated funds:<br>_Voluntary Income:_<br>Donations and Offerings<br>3<br>Gift Aid Tax Reclaim<br>Grant Income:<br>Thurrock<br>3b<br>Investment Income:<br>Bank Interest<br>4<br>Hire of Premises<br>4<br>**Total incoming resources**<br>**Resources expended**<br>**_Cost of generating funds_**<br>**Costs of generating voluntary incom**<br>5<br>**Charity activities**<br>6<br>**Governance Costs**<br>7<br>**Total resources expended**<br>**Net Incoming resources before other**<br>**recognised gains**<br>**Net movement in funds**<br>**Reconciliation of Funds**<br>Total funds brought forward<br>**Total funds carried forward**|**2022**<br>**2022**<br>2021<br>Unrestricted<br>Restricted<br>**Total**<br>Total<br>Funds<br>Funds<br>**Funds**<br>Funds<br>**£**<br>**£**<br>**£**<br>£<br>146,242<br>-<br>146,242<br>120,309<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>9<br>-<br>9<br>-<br>-<br>-<br>-<br>40<br>**146,251**<br>-<br>**146,251**<br>120,349<br>66,221<br>-<br>66,221<br>60,676<br>84,903<br>-<br>84,903<br>65,302<br>1,400<br>-<br>1,400<br>1,300<br>**152,524**<br>-<br>**152,524**<br>127,278<br>(6,273)<br>(6,273)<br>(6,929)<br>(6,273)<br>(6,273)<br>(6,929)<br>74,023<br>-<br>74,023<br>80,952<br>**67,750**<br>**67,750**<br>**74,023**|
|---|---|



There were no recognised gains or losses for the period other than those included in the Statement of Financial Activities. 

All Income and expenditure derive from continuing operations. 

The statement of financial activities also complies with the requirements for an income and expenditure account required by the Companies Act 2006. 

The notes on Pages 10 to 17 form part of these accounts. 

**Page 8** 



## **Gates of Praise International Christian Centre Balance Sheet as at 31 December 2022** 

|**Notes**<br>**Fixed assets**<br>Tangible assets<br>10<br>**Current assets**<br>Debtors<br>13<br>Cash at bank and in hand<br>15<br>**Current Liabilities**<br>Creditors: amounts falling due<br>within one year<br>11<br>**Net Current Assets/Liabilities**<br>**Net Assets**<br>**Non Current Liabilities**<br>Creditors: amounts falling due<br>after more than one year<br>12<br>**Total Assets Less Total Liabilities**<br>**Unrestricted funds**<br>General Funds<br>17<br>**Total Funds**|**2021**<br>**£**<br>19,383<br>1,351<br>75,700<br>77,051<br>(17,884)<br>59,167<br>**78,550**<br>(10,800)<br>**67,750**<br>67,750<br>**67,750**|2020<br>£<br>18,840<br>241<br>72,926<br>73,167<br>(7,184)<br>65,983<br>**84,823**<br>(10,800)<br>**74,023**<br>74,023<br>**74,023**|
|---|---|---|



The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2022 

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2021 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 has been included in these financial statements. 

The directors (who are the charitable company's trustees for the purposes of charity law) acknowledge their responsibilities for: 

(a)     ensuring that the charitable company keeps accounting records which comply with Sections 386 and and 387 of the Companies Act 2006 and 

(b)     preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its net income or expenditure for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. 

The financial statements have been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. 

The Financial Statements were approved by the board on 28th September 2023 and were signed on it's behalf by: 

## **Rev Akin Laosun Director/Trustee** 

The notes on pages 10 to 17 form part of these financial statements. 

**Page 9** 



## **Gates of Praise International Christian Centre Cash Flow Statement** 

**for the Year Ended 31 December 2022** 

|**Note**<br>**2022**<br>**£**<br>Cashflows from operating activities:<br>**Net cash provided by (use in) operating activities**<br>**A**<br>9,778<br>Cashflows from investing activities:<br>**Net cash provided by (use in) investing activities**<br>(7,004)<br>Cashflows from financing activities:<br>**Net cash provided by (use in) financing activities**<br>**Change in cash and equivalents in the reporting period**<br>2,774<br>**Cash and equivalents at the beginning of the year**<br>**B**<br>72,926<br>**Cash and equivalents at the end of the year**<br>**B**<br>75,700<br>**NOTES TO THE CASH FLOW STATEMENT**<br>**Note A: Reconciliation of net income/(expenditure) to net cash flow from operating activities:**<br>**2022**<br>**£**<br>**Net income/(expenditure) for the reporting period (as per the statement of financial activities)**<br>(6,273)<br>**Adjustments for:**<br>Depreciation Charges and provisions for impairment<br>6,461<br>(Increase)/Decrease in debtors<br>(1,110)<br>Increase/(Decrease) in creditors<br>10,700<br>**Net cash provided by (used in) operating activities**<br>**9,778**<br>**Note B: Analysis of cash and cash equivalents**<br>**2022**<br>**£**<br>Cash at bank with immediate access<br>75,700<br>**Total Cash and Cash equivalents**<br>**75,700**|2021<br>£<br>(2,227)<br>(8,585)<br>(10,812)<br>83,738<br>72,926<br>2021<br>£<br>(6,929)<br>6,280<br>(241)<br>(1,337)<br>**(2,227)**<br>2021<br>£<br>72,926<br>**72,926**|
|---|---|



**Page 10** 



## **Gates of Praise International Christian Centre Notes forming part of the financial statements for the Year Ended 31 December 2022** 

## **1. Statutory Information** 

The charity is a charitable company limited by guarantee and is incorporated in the United Kingdom. The Company's registered number and registered office address can be found on the Company Information page. 

## **2. Accounting Policies** 

These financial statements are prepared on a going concern basis, under the historical cost convention 

These financial statements have been prepared in accordance with the "Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) ("the Charities SORP"), with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland ("FRS 102"), with the Companies Act 2006 and with the Charities Act 2011. The charity meets the definition of a public benefit entity as set out in FRS 102. 

The principles adopted in the preparation of the financial statements are set out below. 

## **a). 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. 

## **b). Income** 

Income including investment income is recognised in the period in which the charity becomes entitled to receipt, the amount receivable can be measured with reasonable certainty, and receipt is probable. For the most part, income is generally recognised when it is received. Income is only deferred when the charity has to fulfil conditions before becoming entitled to it or where the donor has specified that the income is to be expended in a future period. 

Income from donations and legacies includes: 

i). Voluntary income is received by way of donations and gifts and is included in full in the Statement of Financial Activities when receivable. 

ii). Recoverable gift aid. This is recognised when the related donation is received. Gift aid that has not been recovered by the balance sheet date is included as a debtor. 

iii). Goods donated for distribution to beneficiaries are recognised as income when receivable at fair value (being an estimate of the amount it would cost to purchase those items). 

The charity relies on volunteers to carry out many of its activities, particularly the work with Feeding and Medical Supplies. However, in accordance with the SORP, the value of these services has not been included in these financial statements as they cannot be reliably measured. 

**Page 11** 



## **Gates of Praise International Christian Centre Notes forming part of the financial statements for the Year Ended 31 December 2022** 

When donated goods are distributed an expense in respect of those items is included in the Statement of Financial Activities. At the year end any goods that have not been distributed are recognised as stock. 

Income from charitable activities represents income receivable from goods, services and facilities supplied in furtherance of the charity's charitable objects. It includes income from charity retreats and other events and courses. 

The charity has taken the view that it has only one charitable activity, namely the advancement of the Christian faith and all income from donations, legacies and charitable activities is in respect of this one activity. 

## **c). Expenditure** 

Expenditure, including irrecoverable VAT, is recognised when it is incurred or, if earlier, when a legal or constructive obligation for a payment arises provided that it is probable that settlement will be required and the amount of the obligation can be measured reliably. 

The charity makes grants to other institutions and individuals to further its charitable objectives. Grants payable are recognised as constructive obligations arise, which is generally when the charity expresses a commitment to the recipient that can be measured reliably and then only to the extent that any conditions associated with the grant are outside of the control of the charity. 

The Charities SORP requires charities with income over £500,000 to allocate costs to the various activities undertaken by the charity. The nature of the work of the charity is considered to be so integrated that the core ccharity activity costs are considered to be for the one activity. 

Governance costs, which are included in expenditure on charitable activities but are identified separately in the notes to the accounts, includes costs associated with the independent examination of the financial statements, compliance with Constitutional and statutory requirements and any other expenditure incurred on the strategic management of the charity. 

## **d). Fund Accounting** 

General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. Restricted funds are donations which are to be used in accordance with specific restrictions imposed by donors; they include donations received from appeals for specific activities or projects. 

## **e). Tangible Fixed assets** 

Fixed assets  (excluding  investments) are stated at cost less accumulated depreciation. The costs of minor additions or those costing below £1,000 are not capitalised. Depreciation is provided at rates calculated to write off the cost of each asset over its expected useful life, which in all cases  is estimated at 4 years. 

Investments held as fixed assets are revalued at mid market value at the blance sheet date and the gain or loss taken to the Statement of Financial Activities. 

## **f). Stocks** 

Stocks of donated items held for distribution to beneficiaries are measured at fair value. 

## **g). Pension Scheme arrangements** 

The charity operates defined contribution pension schemes for its employees. Obligations for contributions to these schemes are recognised as an expense when the liability arises. The assets of these schemes are held separately from those of the charity in independently administered funds. 

**Page 12** 



## **Gates of Praise International Christian Centre Notes forming part of the financial statements for the Year Ended 31 December 2022** 

## **h). Taxation** 

As a charity, Gates of Praise International Christian Centre is exempt from tax on income and gains falling within Section 505 of the Taxes Act 1988 or s256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have risen in the Charity. 

The company is a registered charity; it has taken advantage of the various reliefs from taxation available to charities and no tax is payable on the charity's income. 

## **i). Critical accounting estimates and areas of judgement** 

The trustees do not consider that there are any material sources of estimation or uncertainty at the balance sheet date that could result in a material adjustment to the carrying values of assets and liabilities in the next reporting period 

|**3. Donations & Gift Aid**<br>Donations -Tithes and Offering<br>Gift Aid Tax Reclaim<br>**3b. Grants**<br>Thurrock Council|**Unrestricted**<br>**Restricted**<br>**2022**<br>2021<br>**Total**<br>Total<br>**£**<br>**£**<br>**£**<br>£<br>146,242<br>-<br>146,242<br>120,390<br>-<br>-<br>-<br>-<br>146,242<br>-<br>**146,242**<br>120,390<br>**Unrestricted**<br>**Restricted**<br>**2022**<br>2021<br>**Total**<br>Total<br>**£**<br>**£**<br>**£**<br>£<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>**-**<br>-|
|---|---|



## **4. Incoming Resources from Activities to further the Charity's Objects** 

|Hire of Premises|||**Unrestricted**<br>**Restricted**<br>**2022**<br>2021<br>**Total**<br>Total<br>**£**<br>**£**<br>**£**<br>£<br>-<br>-<br>40|
|---|---|---|---|
|Bank Interest|||9<br>9<br>-|
||||9<br>-<br>9<br>40|
|**5. Costs of Generating Voluntary Income**||||
||**_Ministry WorkSupport Cost_**<br>**_Governance_**<br>**2022**<br>2021<br>**_Basis of Allocatio_**<br>**£**<br>**£**<br>**£**<br>**£**<br>£|||
|Premises|Direct|43,573|43,573<br>41,021|
|Bank Charges|Direct|180|180<br>108|
|Administration|Direct|7,480|7,480<br>6,338|
|Support Costs|Direct||14,988<br>14,988<br>13,209|
|||**51,233**|**14,988**<br>**-**<br>**66,221**<br>60,676|



**Page 13** 



## **Gates of Praise International Christian Centre** 

## **Notes forming part of the financial statements for the Year Ended 31 December 2022** 

## **6. Charitable Activities** 

|Ministry<br>Direct<br>84,903<br>84,903<br>**84,903**<br>-<br>-<br>**84,903**<br>**7. Governance Cost**<br>Professional Fees<br>Direct<br>-<br>1,400<br>1,400<br>-<br>-<br>**1,400**<br>**1,400**<br>**Total Resources**<br>**136,136**<br>**14,988**<br>**1,400**<br>**152,524**<br>**Expended**<br>**8. Net Incoming Resources for the Year**<br>This is stated after charging:<br>**2022**<br>**£**<br>Accountant's Remuneration<br>1,400<br>**1,400**<br>**9. Analysis of staff costs, the cost of key management personnel and trustee remuneration**<br>**and expenses**<br>**2022**<br>**£**<br>Gross wages and salaries & benefits in kind<br>60,215<br>Relocation Cost<br>-<br>**60,215**|65,302<br>65,302<br>1,300<br>1,300<br>127,278<br>2021<br>£<br>1,300<br>1,300<br>2021<br>£<br>47,167<br>6,000<br>**53,167**|
|---|---|



The average monthly number of employees during the year was 4 (2021: 3). Most of the charity's activities are carried out by volunteers. 

No staff received salaries at a rate of more than £60,000 per annum. 

Remuneration payable to key management amounted to £18,275 gross salaries (2021: £17,000) and nil pension contrbutions in the year (2021: nil). Key management is considered to cover Senior Pastors directly employed by the charity. 

No employement benefit were provided to any trustees during the year or previous year. 

**Page 14** 



## **Gates of Praise International Christian Centre** 

## **Notes forming part of the financial statements for the Year Ended 31 December 2022** 

|**10.  Tangible Fixed Assets**|**Office**|**Music**|**Motor Furniture, F**|**Motor Furniture, F**|**2022**|
|---|---|---|---|---|---|
||**Equip**|**Equip**|**Van & Fittings**||**Total**|
||**£**|**£**|**£**|**£**|**£**|
|**Cost**||||||
|At 1 January 2022|20,840|50,076|10,412|30,723|112,051|
|Additions in year|1,246|5,758|-|-|7,004|
|At 31 December 2022|**22,086**|**55,834**|**10,412**|**30,723**|**119,055**|
|**Depreciation**||||||
|At 1 January 2022|15,187|41,290|9,756|26,978|93,211|
|Depreciation Adjustment|||||-|
|Charge for the year|1,725|3,636|164|936|6,461|
|At 31 December 2022|**16,912**|**44,926**|**9,920**|**27,914**|**99,672**|
|**Net Book Value**||||||
|**At 31 December 2022**|**5,174**|**10,908**|**492**|**2,809**|**19,383**|
|Net Book Value||||||
|At 31 December 2021|5,653|8,786|656|3,745|18,840|
|**11. Creditors: Amounts falling due within one year**||||||
|Accruals & Deferred Income|||**2022**<br>**£**<br>1,400||2021<br>£<br>1,200|
|HMRC PAYE|||12,848||5,448|
|Other Creditors|||3,636||536|
||||**17,884**||7,184|
|**12. Creditors: Amounts falling after more than one year**||||||
|Other Creditors|||**2022**<br>**£**<br>10,800||2021<br>£<br>10,800|
||||**10,800**||10,800|
|**13. Debtors: Amounts falling due within one year**||||||
|Prepayment|||**2022**<br>**£**<br>851||2021<br>£<br>241|
|Staff Loan|||500|||
||||**1,351**||241|



**Page 15** 



## **Gates of Praise International Christian Centre Notes forming part of the financial statements for the Year Ended 31 December 2022** 

## **14. Net incoming resources for the year** 

|**This is stated after charging:**|||**2022**||2021|
|---|---|---|---|---|---|
||||**£**||£|
|Depreciation|||6,461||6,280|
|Audit & Accountancy Fees|||1,400||1,300|
||||**7,861**||7,580|
|**15. Cash In Hand and at Bank**|||**2022**||2021|
|Cash at Bank|||**£**<br>75,700||£<br>72,926|
||||**75,700**||72,926|
|**16. Analysis of Net Assets Between Funds**<br>Tangible Fixed Assets<br>Current Assets<br>Current Liabilities<br>Non Current Liabilites<br>**Net Assets at 31st December 2022**||**General**<br>**Funds**<br>**£**<br>19,383<br>77,051<br>(17,884)<br>(10,800)<br>**67,750**|**Designated**<br>**Funds**<br>**£**<br>-<br>-<br>-<br>-<br>**-**|**Restricted**<br>**Funds**<br>**£**<br>-<br>-<br>-<br>-<br>**-**|**Total**<br>**Funds**<br>**£**<br>19,383<br>77,051<br>(17,884)<br>(10,800)<br>**67,750**|
|**17. Movements in Funds**<br>**Unrestricted Funds:**<br>General Funds|**At 1 J**<br>**2022**<br>**£**<br>74,023|**Incoming**<br>**Resources**<br>**[Inc Gains]**<br>**£**<br>146,251|**Outgoing**<br>**Resources**<br>**£**<br>(152,524)|**Transfers**<br>**£**|**At 31 December**<br>**2022**<br>**£**<br>67,750|
|Total Funds|**74,023**|**146,251**|**(152,524)**|**-**|**67,750**|



## **18. Transactions with related parties** 

During the year no expenses (2021:£nil) were paid to, or for, the trustees. Reimbursements for expenses incurred when when acting as agent for the charity or incurred when undertaking employment duties not connected with serving as a trustee are not included in this disclosure. 

During the year the church paid £7,200 as rent to Akin and Funke Laosun Foundation, under a lease agreement for the Charity to use for church activities. Mr Akin Laosun is a Director of Akin and Funke Laosun Foundation. 

**Page 16** 



## **Gates of Praise International Christian Centre Notes forming part of the financial statements for the Year Ended 31 December 2022** 

|Income<br>**LESS OVERHEADS**<br>**Premises Costs**<br>Rent & Rates<br>Building Works (Renovations)<br>Fire, Safety & Security<br>Property Insurance<br>Heating, Light & Water<br>**Bank Charges**<br>Bank Charges<br>**Administration**<br>Administration<br>Advertisements, Print & Design<br>Telephone & Internet<br>Church Insurance<br>Website Charges<br>Computer Supplies & Software<br>Office & Church Supplies<br>**Ministry**<br>Relocations Cost<br>Consultancy Fee<br>Pastor Salary<br>Other Salaries<br>Honorarium<br>Musicians<br>Welfare and Love Gifts<br>Donations & Gift to Missions<br>**Professional Fees**<br>Audit & Accountancy Fees<br>**Support Costs**<br>Hotel, Travel & Motor Expenses<br>Motor Insurance<br>Health Insurance<br>Life Insurance<br>Training [Music/Dance/Other]<br>Subscription & Licenses<br>Depreciation<br>Cleaning & Waste Management<br>Sundry Assets<br>Sundry Expenses<br>Non-Event Catering & Refreshments<br>**Total Expenses**<br>**Surplus/(Deficit) for the year**<br>**Surplus Brought Forward**<br>**Surplus Carried Forward**|**2022**<br>**£**<br>146,251<br>8,410<br>24,128<br>1,585<br>1,286<br>8,164<br>43,573<br>180<br>180<br>53<br>1,356<br>1,852<br>2,059<br>283<br>1,398<br>479<br>7,480<br>-<br>109<br>18,275<br>41,940<br>1,650<br>16,430<br>2,522<br>3,977<br>84,903<br>1,400<br>1,400<br>733<br>599<br>788<br>389<br>1,215<br>962<br>6,461<br>1,061<br>980<br>1,027<br>773<br>14,988<br>(152,524)<br>(6,273)<br>74,023<br>**67,750**|**2021**<br>**£**<br>120,349<br>8,410<br>24,683<br>3,356<br>1,113<br>3,459<br>41,021<br>108<br>108<br>233<br>1,020<br>1,607<br>1,267<br>1,010<br>890<br>311<br>6,338<br>6,000<br>840<br>17,000<br>30,167<br>1,350<br>4,020<br>2,675<br>3,250<br>65,302<br>1,300<br>1,300<br>332<br>1,095<br>-<br>389<br>95<br>828<br>6,280<br>1,159<br>2,317<br>433<br>281<br>13,209<br>(127,278)<br>(6,929)<br>80,952<br>74,023|
|---|---|---|



This page does not form part of the statutory accounts. 



Page 17

GATES OF PRAISE INTERNATIONAL CHRISTIAN CENTRE Report and Accounts 

**3 Worcester Avenue, Old Swan, LIVERPOOL L13 9AZ t: 01513647913 e: aamatthew@aol.com** 




|**Contents**|**Page**|
|---|---|
|Company Information|**1**|
|Trustees' Annual Report|**2-6**|
|Independent Examiner's Report|**7**|
|Statement of Financial Activities|**8**|
|Balance Sheet|**9**|
|Cash Flow Statement|**10**|
|Notes to the Accounts|**11-16**|
|**The following page does not form part of the Statutory Accounts**||
|Detailed Statement of Financial Activities with Comparatives|**17**|





**Gates of Praise International Christian Centre Trustees' Annual Report for the Year Ended 31 December 2022** 

## **Company Information** 

|**Charity Name:**|Gates of Praise International Christian Centre|
|---|---|
|**Directors/Trustees:**|Rev Akin Laosun|
||Mr Olaniyi Olaosebikan|
||Mr Kayode Olabisi|
||Mr Akinlolu Akinsola|
||Mrs Carole Laosun|
||Mrs Folashade Braimoh|
|**Secretary:**|Mrs Carole Laosun|
|**Governing Document:**|Memorandum and Articles of Association|
||dated 23 December 2005|
|**Charity Commission No:**|1112960|
|**Company House No:**|04312876|
|**Registered Office and**|The Centre|
|**Operational Address:**|79-83 London Road|
||Grays, Essex|
||RM17 5YF|
|**Accountants:**|AA Matthew & Co|
||Newspring House|
||3, Worcester Avenue|
||Old Swan|
||Liverpool|
||L13 9AZ|
|**Bankers:**|HSBC|
||53 High Street|
||Grays Essex|
||RM17 6NH|



**Page 1** 



**Gates of Praise International Christian Centre Trustees' Annual Report for the Year Ended 31 December 2022** 

## **Objects of the charity** 

The main charitable objectives of Gates of Praise International Christian Centre as set out in the objects contained in the charity's declaration of trust are: 

To advance the Christian religion and to relieve poverty and sickness in accordance with Christian principles in the United Kingdom and in such other parts of the world as the Trustees may from time to time think fit.  We aim to provide financial assistance for food, clothing, shelter, medical supplies and care in these regions. 

The aims of our charity are to preach the gospel  in the county of Essex with an operational focus in Grays, Thurrock, Essex. Our aims fully reflect the purposes that the charity was set up to further. 

## **Ensuring Our Work Delivers Our Aims** 

We review our aims, objectives and activities each year. This review looks at what we achieved and the outcomes of our work in the previous 12 months. The review looks at the success of each key activity and the benefits they have brought to those groups of people we are set up to help. The review also helps us ensure our aims, objectives and activities remained focused on our stated purposes. We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives they have set. 

## **The Focus of Our Work** 

Our main objectives for the year continued to be the advance of the Christian religion and the relieve of poverty and sickness. The strategies we used to meet these objectives included: 

1. Provision of Weekly Church Services on Sunday to minister to the physical, spiritual and material needs of the congregants. 

2. Provision of Special Events and Meetings to meet the specific needs of target groups in the Church such as Men, Women, Youth and Children. 

3. Focusing on the Material needs of certain members undergoing  difficult financial situations. 

4. Working with other Christian agencies and Churches in Essex to advance the preaching of the Gospel. 

5. Provision of Pastoral Care for Congregants and other members of the community 

6. Missionary and Outreach Work 

**Page 2** 



## **Gates of Praise International Christian Centre Trustees' Annual Report for the Year Ended 31 December 2022** 

## **Financial Review** 

The trustees approve an annual budget and give regular attention to financial results, variance from budgets and cash flow. Income was principally derived from the generous gifts and voluntary support of members of the Chariry. 

For the year, the charity's income (including recoveries of gift aid) was £146,251 (2021: £120,349) and its expenditure was £152,524 (2021: £127,278), which resulted in a Deficit of £6,273 (2021: deficit of £6,929). 

The trustees have considered the Charity’s current financial position and projections for the coming 12 months. The trustees are satisfied that the charity is and will remain solvent through that period. 

## **Principal Funding Sources** 

The principal funding sources for the charity are currently by way of Donations and Gifts from congregants through the offering basket passed during Church services 

## **Reserves Policy** 

The Board of Trustees has examined the Charity's requirements for reserves in light of the main risks to the organisation. It has established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets held by the charity should be between 3 and 6 months of the expenditure. 

The expenditure for Year ended 31st December 2022 is £152,524  and therefore the targeted reserves should be between £38,131 and £76,262 in general funds. The reserves are needed to meet the working capital requirements of the charity and the trustees are confident that at this level they would be able to continue the current activities of the Charity in the event of a significant drop in funding. This general reserve policy has not been met this year as in previous years. 

## **Plans for Future Periods** 

The Charity continues to explore ways of furthering its charitable objectives in an effective manner by ensuring there is awareness of its services and getting more involved in the community in which it operates. The Charity seeks to provide services and activities that meet the needs of the people and this reflects its Christian ethos and beliefs in order to effect change in the moral and spiritual climate of United Kingdom, and the other countries the Charity intends to have a presence. Plans are also being developed to become more active within the Gray's community. 

## **The Charity and Covid-19** 

The Covid-19 pandemic has had a profound impact on Gates of Praise International Christian Centre since the introduction of control measures in March 2020. The Charity has had to adapt its operating model and religious practices to cope of with a physically dispersed congregation. These adjustments were most acute for our congregation, who are primarily from disadvantaged and low-income backgrounds, including millennials and senior citizens. 

The effect of the pandemic has necessitated significant investment in digital insfrastructure to enable smooth running of church operations to meet congregational needs. 

The implications on Church life have become most severe in the below areas: 

- a. Inability to physically visit congregation members at hospitals and those in care; 

- b. Cancellation of face-to-face worship services, including weddings, festivals and funerals; 

- c. Cancellation of missions and pilgrimages; 

d. Deterioration in mental health and wellbeing of those in isolation, particulary elderly congregation members; 

e. Diminished sense of community and engagement with worship. 

As we begin to emerge from an extended period of sheltering and social distancing, there are residual concerns about attendance, engagement and income. 

**Page 3** 



## **Gates of Praise International Christian Centre Trustees' Annual Report for the Year Ended 31 December 2022** 

We have set out below interventions undertaken to mitigate the impact of the pandemic on worship, income and community engagement: 

a. Provision of Hybrid Services: Church services, programs and teachings have been delivered online since restrictions were put in place by the government. However, during the period of relaxed restrictions, the charity operated with limited capacity and therefore continued to provide online services simultaneously. 

- b. We broadcast from the church building and other locations using collaboration tools (Zoom) and social media platforms (Youtube, Facbook, Twitter and Instagram). 

- c. Sensitization of church members on use of online platforms to make donations. 

## **Structure, Governance and Management** 

## **Governing Document** 

The Organisation is a charitable company limited by guarantee, incorporated on 29th October 2001. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company wound up members are required to contribute an amount not exceeding £10. 

## **Recruitment and Appointment of Trustees** 

The directors of the company are also charity trustees for the purposes of charity law and under the company's Articles are known as trustees. Under the requirements of the Memorandum and Articles of Association the trustees are elected to serve for a period of three years after which they must be re-elected at the next Annual General Meeting. 

All trustees except the Senior Pastors' give their time voluntarily and receive no benefits from the charity. 

Due to the nature of Charity work, trustees appointed have been so selected on the basis of their faith, strength of Character, skills set in the area of business management and growth and commitment to the vision of the charity. 

## **Trustees Induction and Training** 

Most trustees are already familiar with the practical work of the charity. Additionally new trustees would be invited as required and encouraged to attend a series of short training sessions to familiarise themselves with the charity and the context within which it operates. These sessions would be jointly led by the Chair of Trustees and the Chief Executive or Senior Minister of the Charity and cover: 

The Obligations of Trustees 

o The Main documents  which set out the operational framework for the charity including the Memorandum and Articles. 

Resourcing and the current finanicial position as set out in the latest published accounts Future plans and objectives 

A Question & Answer pack would be prepared which draws information from various Charity Commission publications signposted through the Commission's guide "the Essential Trustee" as a follow up to these sessions. This will be distributed to all new trustees along with the Memorandum and Articles and the latest financial statements. 

**Page 4** 



## **Gates of Praise International Christian Centre Trustees' Annual Report for the Year Ended 31 December 2022** 

## **Risk Statement** 

The trustees recognise the importance of assessing and managing risk associated with the charity's objectives. The process of identifying risk is on-going and is an essential part of the work of the trustees and Management Team. The charity has a set of comprehensive policy and procedure documents in place to ensure on-going identification and management of foreseeable risks. 

Financial risk is mitigated through the adoption of comprehensive budgeting and reporting processes. Policy documents relating to risk and compliance issues are reviewed and updated annually. Current policies include: 

1. Safeguarding children and vulnerable adults 

2. Health and safety 

3. Equal opportunities 

4. Purchasing 

5. Fire safety and evacuation 

6. Employment including complaints and disciplinary issues 

7. Privacy and data protection 8. Complaints 9. Finance Processes 10. Conflict of Interest 

The trustees and staff have been aware of their responsibilities with regard to the new GDPR regulations and action has been taken to ensure compliance. 

## **Organisation** 

Gates of Praise International Christian Centre is governed  by a  Board  of Trustees elected to serve the charity and run its affairs. Annually the Board reviews the range of skills it has available and uses its power of co-option to ensure that gaps are filled. There are a  number of other  criteria that a trustee must meet. The Board of Trustees are assisted by the Department leaders. There are two trustees on the Board of Leaders. 

The Board of Trustees  meet quarterly and are responsible for the strategic direction and policy of the Charity. A scheme of delegation is in place and day to day responsibility for the provision of the services rest with the Senior Pastor who is also the Chief Executive. He is ably assisted by an adminstration staff who implement day to day operations. The adminstrative team continue to develop their skills and working practices in line with good 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 trust  as  at  the balance sheet   date  and  of  its  incoming  resources  and  applications of  resources,  including  income and and expenditure, for the financial year. In preparing those financial  statements the Trustees should follow best practice and: 

o  Select suitable accounting policies and then apply them consistently; 

o  Make judgements and estimates that are reasonable and prudent 

o  Prepare the financial statements on the on going basis unless it is in appropriate 

to presume that the charity will continue in business. 

**Page 5** 



## **Gates of Praise International Christian Centre Trustees' Annual Report for the Year Ended 31 December 2022** 

## **Organisation** 

The Trustees   are  responsible  for   maintaining   proper  accounting records   which  disclose  with reasonable  accuracy at  any time  the  financial position  of  the charity and enables them to ensure that the financial statements comply with Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charity and hence for taking  reasonable  steps for the prevention and detection of fraud and other irregularities. 

## **Members of the Board of Trustees** 

Members of the Board of Trustees, who are directors for the purpose of company law and trustees for the purpose of charity law, who served during the year and up to the date of this report are set out on page 1. 

In accordance with company law, as the company's directors, we certify that: 

So far as we are aware, there is no relevant information of which the company's accountants are unaware; and as the directors of the company we have taken all steps that we ought to have taken in order to make ourselves aware of any relevant information and to establish that the Charity's accountants are aware of that information. 

This report has been prepared by the Order of Trustees: 

## **Rev Akin Laosun Director/Trustee** 

28th September 2023 

**Page 6** 



## **Gates of Praise International Christian Centre Independent examiner’s report to the trustees of Gates of Praise International Christian Centre for the Year Ended 31 December 2022** 

I report to the charity trustees on my examination of the accounts of Gates of Praise International Christian Centre for the year ended 31 Decemer 2022 on pages 8 to 17 following, which have been prepared on the basis of the accounting policies set out on pages 11 and 12. 

## **Responsibilities and basis of report** 

As the charity’s trustees of the Company (and also its directors 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 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** 

The Charity’s gross income did not exceed £250,000 therefore our examiner need not be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a Fellow of the Association of Accounting Technicians, which is one of the listed bodies. 

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: 

1. accounting records were not kept in respect of the Charity as required by section section 130  of the Charities Act  2011; 2. the accounts do not accord with those records; or 

3. the accounts do not comply with the accounting requirements of  2011 Act  other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination; or 

4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). 

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. 


## **Mr Matthew Okuboyejo FCA, MAAT** 

Association of Accounting Technicians 

AA Matthew & Co Newspring House 3, Worcester Avenue Old Swan Liverpool L13 9AZ 

28th September 2023 

**Page 7** 



## **Gates of Praise International Christian Centre Statement of Financial Activities (including Income and Expenditure Account) for the Year Ended 31 December 2022** 

|**Notes**<br>**Incoming resources**<br>Incoming resources from generated funds:<br>_Voluntary Income:_<br>Donations and Offerings<br>3<br>Gift Aid Tax Reclaim<br>Grant Income:<br>Thurrock<br>3b<br>Investment Income:<br>Bank Interest<br>4<br>Hire of Premises<br>4<br>**Total incoming resources**<br>**Resources expended**<br>**_Cost of generating funds_**<br>**Costs of generating voluntary incom**<br>5<br>**Charity activities**<br>6<br>**Governance Costs**<br>7<br>**Total resources expended**<br>**Net Incoming resources before other**<br>**recognised gains**<br>**Net movement in funds**<br>**Reconciliation of Funds**<br>Total funds brought forward<br>**Total funds carried forward**|**2022**<br>**2022**<br>2021<br>Unrestricted<br>Restricted<br>**Total**<br>Total<br>Funds<br>Funds<br>**Funds**<br>Funds<br>**£**<br>**£**<br>**£**<br>£<br>146,242<br>-<br>146,242<br>120,309<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>9<br>-<br>9<br>-<br>-<br>-<br>-<br>40<br>**146,251**<br>-<br>**146,251**<br>120,349<br>66,221<br>-<br>66,221<br>60,676<br>84,903<br>-<br>84,903<br>65,302<br>1,400<br>-<br>1,400<br>1,300<br>**152,524**<br>-<br>**152,524**<br>127,278<br>(6,273)<br>(6,273)<br>(6,929)<br>(6,273)<br>(6,273)<br>(6,929)<br>74,023<br>-<br>74,023<br>80,952<br>**67,750**<br>**67,750**<br>**74,023**|
|---|---|



There were no recognised gains or losses for the period other than those included in the Statement of Financial Activities. 

All Income and expenditure derive from continuing operations. 

The statement of financial activities also complies with the requirements for an income and expenditure account required by the Companies Act 2006. 

The notes on Pages 10 to 17 form part of these accounts. 

**Page 8** 



## **Gates of Praise International Christian Centre Balance Sheet as at 31 December 2022** 

|**Notes**<br>**Fixed assets**<br>Tangible assets<br>10<br>**Current assets**<br>Debtors<br>13<br>Cash at bank and in hand<br>15<br>**Current Liabilities**<br>Creditors: amounts falling due<br>within one year<br>11<br>**Net Current Assets/Liabilities**<br>**Net Assets**<br>**Non Current Liabilities**<br>Creditors: amounts falling due<br>after more than one year<br>12<br>**Total Assets Less Total Liabilities**<br>**Unrestricted funds**<br>General Funds<br>17<br>**Total Funds**|**2021**<br>**£**<br>19,383<br>1,351<br>75,700<br>77,051<br>(17,884)<br>59,167<br>**78,550**<br>(10,800)<br>**67,750**<br>67,750<br>**67,750**|2020<br>£<br>18,840<br>241<br>72,926<br>73,167<br>(7,184)<br>65,983<br>**84,823**<br>(10,800)<br>**74,023**<br>74,023<br>**74,023**|
|---|---|---|



The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2022 

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2021 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 has been included in these financial statements. 

The directors (who are the charitable company's trustees for the purposes of charity law) acknowledge their responsibilities for: 

(a)     ensuring that the charitable company keeps accounting records which comply with Sections 386 and and 387 of the Companies Act 2006 and 

(b)     preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its net income or expenditure for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. 

The financial statements have been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. 

The Financial Statements were approved by the board on 28th September 2023 and were signed on it's behalf by: 

## **Rev Akin Laosun Director/Trustee** 

The notes on pages 10 to 17 form part of these financial statements. 

**Page 9** 



## **Gates of Praise International Christian Centre Cash Flow Statement** 

**for the Year Ended 31 December 2022** 

|**Note**<br>**2022**<br>**£**<br>Cashflows from operating activities:<br>**Net cash provided by (use in) operating activities**<br>**A**<br>9,778<br>Cashflows from investing activities:<br>**Net cash provided by (use in) investing activities**<br>(7,004)<br>Cashflows from financing activities:<br>**Net cash provided by (use in) financing activities**<br>**Change in cash and equivalents in the reporting period**<br>2,774<br>**Cash and equivalents at the beginning of the year**<br>**B**<br>72,926<br>**Cash and equivalents at the end of the year**<br>**B**<br>75,700<br>**NOTES TO THE CASH FLOW STATEMENT**<br>**Note A: Reconciliation of net income/(expenditure) to net cash flow from operating activities:**<br>**2022**<br>**£**<br>**Net income/(expenditure) for the reporting period (as per the statement of financial activities)**<br>(6,273)<br>**Adjustments for:**<br>Depreciation Charges and provisions for impairment<br>6,461<br>(Increase)/Decrease in debtors<br>(1,110)<br>Increase/(Decrease) in creditors<br>10,700<br>**Net cash provided by (used in) operating activities**<br>**9,778**<br>**Note B: Analysis of cash and cash equivalents**<br>**2022**<br>**£**<br>Cash at bank with immediate access<br>75,700<br>**Total Cash and Cash equivalents**<br>**75,700**|2021<br>£<br>(2,227)<br>(8,585)<br>(10,812)<br>83,738<br>72,926<br>2021<br>£<br>(6,929)<br>6,280<br>(241)<br>(1,337)<br>**(2,227)**<br>2021<br>£<br>72,926<br>**72,926**|
|---|---|



**Page 10** 



## **Gates of Praise International Christian Centre Notes forming part of the financial statements for the Year Ended 31 December 2022** 

## **1. Statutory Information** 

The charity is a charitable company limited by guarantee and is incorporated in the United Kingdom. The Company's registered number and registered office address can be found on the Company Information page. 

## **2. Accounting Policies** 

These financial statements are prepared on a going concern basis, under the historical cost convention 

These financial statements have been prepared in accordance with the "Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) ("the Charities SORP"), with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland ("FRS 102"), with the Companies Act 2006 and with the Charities Act 2011. The charity meets the definition of a public benefit entity as set out in FRS 102. 

The principles adopted in the preparation of the financial statements are set out below. 

## **a). 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. 

## **b). Income** 

Income including investment income is recognised in the period in which the charity becomes entitled to receipt, the amount receivable can be measured with reasonable certainty, and receipt is probable. For the most part, income is generally recognised when it is received. Income is only deferred when the charity has to fulfil conditions before becoming entitled to it or where the donor has specified that the income is to be expended in a future period. 

Income from donations and legacies includes: 

i). Voluntary income is received by way of donations and gifts and is included in full in the Statement of Financial Activities when receivable. 

ii). Recoverable gift aid. This is recognised when the related donation is received. Gift aid that has not been recovered by the balance sheet date is included as a debtor. 

iii). Goods donated for distribution to beneficiaries are recognised as income when receivable at fair value (being an estimate of the amount it would cost to purchase those items). 

The charity relies on volunteers to carry out many of its activities, particularly the work with Feeding and Medical Supplies. However, in accordance with the SORP, the value of these services has not been included in these financial statements as they cannot be reliably measured. 

**Page 11** 



## **Gates of Praise International Christian Centre Notes forming part of the financial statements for the Year Ended 31 December 2022** 

When donated goods are distributed an expense in respect of those items is included in the Statement of Financial Activities. At the year end any goods that have not been distributed are recognised as stock. 

Income from charitable activities represents income receivable from goods, services and facilities supplied in furtherance of the charity's charitable objects. It includes income from charity retreats and other events and courses. 

The charity has taken the view that it has only one charitable activity, namely the advancement of the Christian faith and all income from donations, legacies and charitable activities is in respect of this one activity. 

## **c). Expenditure** 

Expenditure, including irrecoverable VAT, is recognised when it is incurred or, if earlier, when a legal or constructive obligation for a payment arises provided that it is probable that settlement will be required and the amount of the obligation can be measured reliably. 

The charity makes grants to other institutions and individuals to further its charitable objectives. Grants payable are recognised as constructive obligations arise, which is generally when the charity expresses a commitment to the recipient that can be measured reliably and then only to the extent that any conditions associated with the grant are outside of the control of the charity. 

The Charities SORP requires charities with income over £500,000 to allocate costs to the various activities undertaken by the charity. The nature of the work of the charity is considered to be so integrated that the core ccharity activity costs are considered to be for the one activity. 

Governance costs, which are included in expenditure on charitable activities but are identified separately in the notes to the accounts, includes costs associated with the independent examination of the financial statements, compliance with Constitutional and statutory requirements and any other expenditure incurred on the strategic management of the charity. 

## **d). Fund Accounting** 

General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. Restricted funds are donations which are to be used in accordance with specific restrictions imposed by donors; they include donations received from appeals for specific activities or projects. 

## **e). Tangible Fixed assets** 

Fixed assets  (excluding  investments) are stated at cost less accumulated depreciation. The costs of minor additions or those costing below £1,000 are not capitalised. Depreciation is provided at rates calculated to write off the cost of each asset over its expected useful life, which in all cases  is estimated at 4 years. 

Investments held as fixed assets are revalued at mid market value at the blance sheet date and the gain or loss taken to the Statement of Financial Activities. 

## **f). Stocks** 

Stocks of donated items held for distribution to beneficiaries are measured at fair value. 

## **g). Pension Scheme arrangements** 

The charity operates defined contribution pension schemes for its employees. Obligations for contributions to these schemes are recognised as an expense when the liability arises. The assets of these schemes are held separately from those of the charity in independently administered funds. 

**Page 12** 



## **Gates of Praise International Christian Centre Notes forming part of the financial statements for the Year Ended 31 December 2022** 

## **h). Taxation** 

As a charity, Gates of Praise International Christian Centre is exempt from tax on income and gains falling within Section 505 of the Taxes Act 1988 or s256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have risen in the Charity. 

The company is a registered charity; it has taken advantage of the various reliefs from taxation available to charities and no tax is payable on the charity's income. 

## **i). Critical accounting estimates and areas of judgement** 

The trustees do not consider that there are any material sources of estimation or uncertainty at the balance sheet date that could result in a material adjustment to the carrying values of assets and liabilities in the next reporting period 

|**3. Donations & Gift Aid**<br>Donations -Tithes and Offering<br>Gift Aid Tax Reclaim<br>**3b. Grants**<br>Thurrock Council|**Unrestricted**<br>**Restricted**<br>**2022**<br>2021<br>**Total**<br>Total<br>**£**<br>**£**<br>**£**<br>£<br>146,242<br>-<br>146,242<br>120,390<br>-<br>-<br>-<br>-<br>146,242<br>-<br>**146,242**<br>120,390<br>**Unrestricted**<br>**Restricted**<br>**2022**<br>2021<br>**Total**<br>Total<br>**£**<br>**£**<br>**£**<br>£<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>**-**<br>-|
|---|---|



## **4. Incoming Resources from Activities to further the Charity's Objects** 

|Hire of Premises|||**Unrestricted**<br>**Restricted**<br>**2022**<br>2021<br>**Total**<br>Total<br>**£**<br>**£**<br>**£**<br>£<br>-<br>-<br>40|
|---|---|---|---|
|Bank Interest|||9<br>9<br>-|
||||9<br>-<br>9<br>40|
|**5. Costs of Generating Voluntary Income**||||
||**_Ministry WorkSupport Cost_**<br>**_Governance_**<br>**2022**<br>2021<br>**_Basis of Allocatio_**<br>**£**<br>**£**<br>**£**<br>**£**<br>£|||
|Premises|Direct|43,573|43,573<br>41,021|
|Bank Charges|Direct|180|180<br>108|
|Administration|Direct|7,480|7,480<br>6,338|
|Support Costs|Direct||14,988<br>14,988<br>13,209|
|||**51,233**|**14,988**<br>**-**<br>**66,221**<br>60,676|



**Page 13** 



## **Gates of Praise International Christian Centre** 

## **Notes forming part of the financial statements for the Year Ended 31 December 2022** 

## **6. Charitable Activities** 

|Ministry<br>Direct<br>84,903<br>84,903<br>**84,903**<br>-<br>-<br>**84,903**<br>**7. Governance Cost**<br>Professional Fees<br>Direct<br>-<br>1,400<br>1,400<br>-<br>-<br>**1,400**<br>**1,400**<br>**Total Resources**<br>**136,136**<br>**14,988**<br>**1,400**<br>**152,524**<br>**Expended**<br>**8. Net Incoming Resources for the Year**<br>This is stated after charging:<br>**2022**<br>**£**<br>Accountant's Remuneration<br>1,400<br>**1,400**<br>**9. Analysis of staff costs, the cost of key management personnel and trustee remuneration**<br>**and expenses**<br>**2022**<br>**£**<br>Gross wages and salaries & benefits in kind<br>60,215<br>Relocation Cost<br>-<br>**60,215**|65,302<br>65,302<br>1,300<br>1,300<br>127,278<br>2021<br>£<br>1,300<br>1,300<br>2021<br>£<br>47,167<br>6,000<br>**53,167**|
|---|---|



The average monthly number of employees during the year was 4 (2021: 3). Most of the charity's activities are carried out by volunteers. 

No staff received salaries at a rate of more than £60,000 per annum. 

Remuneration payable to key management amounted to £18,275 gross salaries (2021: £17,000) and nil pension contrbutions in the year (2021: nil). Key management is considered to cover Senior Pastors directly employed by the charity. 

No employement benefit were provided to any trustees during the year or previous year. 

**Page 14** 



## **Gates of Praise International Christian Centre** 

## **Notes forming part of the financial statements for the Year Ended 31 December 2022** 

|**10.  Tangible Fixed Assets**|**Office**|**Music**|**Motor Furniture, F**|**Motor Furniture, F**|**2022**|
|---|---|---|---|---|---|
||**Equip**|**Equip**|**Van & Fittings**||**Total**|
||**£**|**£**|**£**|**£**|**£**|
|**Cost**||||||
|At 1 January 2022|20,840|50,076|10,412|30,723|112,051|
|Additions in year|1,246|5,758|-|-|7,004|
|At 31 December 2022|**22,086**|**55,834**|**10,412**|**30,723**|**119,055**|
|**Depreciation**||||||
|At 1 January 2022|15,187|41,290|9,756|26,978|93,211|
|Depreciation Adjustment|||||-|
|Charge for the year|1,725|3,636|164|936|6,461|
|At 31 December 2022|**16,912**|**44,926**|**9,920**|**27,914**|**99,672**|
|**Net Book Value**||||||
|**At 31 December 2022**|**5,174**|**10,908**|**492**|**2,809**|**19,383**|
|Net Book Value||||||
|At 31 December 2021|5,653|8,786|656|3,745|18,840|
|**11. Creditors: Amounts falling due within one year**||||||
|Accruals & Deferred Income|||**2022**<br>**£**<br>1,400||2021<br>£<br>1,200|
|HMRC PAYE|||12,848||5,448|
|Other Creditors|||3,636||536|
||||**17,884**||7,184|
|**12. Creditors: Amounts falling after more than one year**||||||
|Other Creditors|||**2022**<br>**£**<br>10,800||2021<br>£<br>10,800|
||||**10,800**||10,800|
|**13. Debtors: Amounts falling due within one year**||||||
|Prepayment|||**2022**<br>**£**<br>851||2021<br>£<br>241|
|Staff Loan|||500|||
||||**1,351**||241|



**Page 15** 



## **Gates of Praise International Christian Centre Notes forming part of the financial statements for the Year Ended 31 December 2022** 

## **14. Net incoming resources for the year** 

|**This is stated after charging:**|||**2022**||2021|
|---|---|---|---|---|---|
||||**£**||£|
|Depreciation|||6,461||6,280|
|Audit & Accountancy Fees|||1,400||1,300|
||||**7,861**||7,580|
|**15. Cash In Hand and at Bank**|||**2022**||2021|
|Cash at Bank|||**£**<br>75,700||£<br>72,926|
||||**75,700**||72,926|
|**16. Analysis of Net Assets Between Funds**<br>Tangible Fixed Assets<br>Current Assets<br>Current Liabilities<br>Non Current Liabilites<br>**Net Assets at 31st December 2022**||**General**<br>**Funds**<br>**£**<br>19,383<br>77,051<br>(17,884)<br>(10,800)<br>**67,750**|**Designated**<br>**Funds**<br>**£**<br>-<br>-<br>-<br>-<br>**-**|**Restricted**<br>**Funds**<br>**£**<br>-<br>-<br>-<br>-<br>**-**|**Total**<br>**Funds**<br>**£**<br>19,383<br>77,051<br>(17,884)<br>(10,800)<br>**67,750**|
|**17. Movements in Funds**<br>**Unrestricted Funds:**<br>General Funds|**At 1 J**<br>**2022**<br>**£**<br>74,023|**Incoming**<br>**Resources**<br>**[Inc Gains]**<br>**£**<br>146,251|**Outgoing**<br>**Resources**<br>**£**<br>(152,524)|**Transfers**<br>**£**|**At 31 December**<br>**2022**<br>**£**<br>67,750|
|Total Funds|**74,023**|**146,251**|**(152,524)**|**-**|**67,750**|



## **18. Transactions with related parties** 

During the year no expenses (2021:£nil) were paid to, or for, the trustees. Reimbursements for expenses incurred when when acting as agent for the charity or incurred when undertaking employment duties not connected with serving as a trustee are not included in this disclosure. 

During the year the church paid £7,200 as rent to Akin and Funke Laosun Foundation, under a lease agreement for the Charity to use for church activities. Mr Akin Laosun is a Director of Akin and Funke Laosun Foundation. 

**Page 16** 



## **Gates of Praise International Christian Centre Notes forming part of the financial statements for the Year Ended 31 December 2022** 

|Income<br>**LESS OVERHEADS**<br>**Premises Costs**<br>Rent & Rates<br>Building Works (Renovations)<br>Fire, Safety & Security<br>Property Insurance<br>Heating, Light & Water<br>**Bank Charges**<br>Bank Charges<br>**Administration**<br>Administration<br>Advertisements, Print & Design<br>Telephone & Internet<br>Church Insurance<br>Website Charges<br>Computer Supplies & Software<br>Office & Church Supplies<br>**Ministry**<br>Relocations Cost<br>Consultancy Fee<br>Pastor Salary<br>Other Salaries<br>Honorarium<br>Musicians<br>Welfare and Love Gifts<br>Donations & Gift to Missions<br>**Professional Fees**<br>Audit & Accountancy Fees<br>**Support Costs**<br>Hotel, Travel & Motor Expenses<br>Motor Insurance<br>Health Insurance<br>Life Insurance<br>Training [Music/Dance/Other]<br>Subscription & Licenses<br>Depreciation<br>Cleaning & Waste Management<br>Sundry Assets<br>Sundry Expenses<br>Non-Event Catering & Refreshments<br>**Total Expenses**<br>**Surplus/(Deficit) for the year**<br>**Surplus Brought Forward**<br>**Surplus Carried Forward**|**2022**<br>**£**<br>146,251<br>8,410<br>24,128<br>1,585<br>1,286<br>8,164<br>43,573<br>180<br>180<br>53<br>1,356<br>1,852<br>2,059<br>283<br>1,398<br>479<br>7,480<br>-<br>109<br>18,275<br>41,940<br>1,650<br>16,430<br>2,522<br>3,977<br>84,903<br>1,400<br>1,400<br>733<br>599<br>788<br>389<br>1,215<br>962<br>6,461<br>1,061<br>980<br>1,027<br>773<br>14,988<br>(152,524)<br>(6,273)<br>74,023<br>**67,750**|**2021**<br>**£**<br>120,349<br>8,410<br>24,683<br>3,356<br>1,113<br>3,459<br>41,021<br>108<br>108<br>233<br>1,020<br>1,607<br>1,267<br>1,010<br>890<br>311<br>6,338<br>6,000<br>840<br>17,000<br>30,167<br>1,350<br>4,020<br>2,675<br>3,250<br>65,302<br>1,300<br>1,300<br>332<br>1,095<br>-<br>389<br>95<br>828<br>6,280<br>1,159<br>2,317<br>433<br>281<br>13,209<br>(127,278)<br>(6,929)<br>80,952<br>74,023|
|---|---|---|



This page does not form part of the statutory accounts. 



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