CHURCH OF GOD MISSION INTERNATIONAL UK
FINANCIAL STATEMENTS FOR THE YEAR ENDED
31ST MARCH 2024
CHARITY REGISTRATION NUMBER 1119405
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CHURCH OF GOD MISSION INTERNATIONAL UK
CONTENTS Page Trustee's Report 3 Independent Examiner's Report 7 Statement of Financial Activities 8 Balance Sheet 9 Notes to the Accounts 10 - 15
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CHURCH OF GOD MISSION INTERNATIONAL UK
TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2024
The Trustees present their report with the unaudited financial statements of the charity for the year ended 31 March 2024. They have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
Structure, Governing & Management
The Governing document of the Charity is the Trust Deed dated 22[nd] May 2007. The Charity is also registered with the charity commission.
Names of Trustees
Miss Omolara Taiwo Mrs Olufunmilayo Taiwo Pastor Ata Solomon Ikiddeh
All Trustees are appointed by resolution of the existing Trustee Body.
Organisation Structure
The Trustees made all the decisions regarding allocation of fund and activities.
The Board of Trustees is headed by a Chairman, the Secretary to the trust a, Trustee member and a Financial Administrator. The only paid employee of the Charity is the Church Pastor. The Trustees are responsible for making all decisions regarding allocation of fund and activities.
Objects of the Charity
The objects of the Charity are:
-
Advance the Christian faith in such ways and in such parts of the United Kingdom or the World as the trustees from time to time may think fit
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Relieve sickness and financial hardship and to promote and reserve good health by the provision of funds, goods or services of any kind, including through the provision of counselling and support in such parts of the United Kingdom or the World as the trustees may think fit
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Advance education is such ways and in such parts of the United Kingdom or the World as the trustees from time to time may think fit
Achievements and Performance
The above objectives were achieved in this financial year through provision of charitable support in accordance with its objects.
The charity’s other achievement are listed below:
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Participation in Kidney Research charity walk, Christmas jumper and raising funds
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• Individual support in other issue
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Daily prayer support and Zoom meetings
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CHURCH OF GOD MISSION INTERNATIONAL UK
Specific Investment Powers
The Trustees are empowered to use the income and may use the capital of the trust in Promoting the objects in accordance with Charities Act 2011. They can also let and dispose of property of any kind. All investments are in the name of the Charity.
Reserve Policy
Funds that are not required for immediate use must be placed or invested in accordance with clause 3:14 of Trust Deed and a minimum of £1,000 is to serve as the Charity’s reserve. The remaining funds at 31 March 2024 will be retained to finance the charitable objects and to meet the ongoing operating expenses.
Grant-Making Policies
Grants are made to other Charities, emergency homeless, emergency relief aid and gifts to members of Charity.
Review of Transactions and Financial Position
During the period, income of £39,742 (2023: £21,947) was received as donations in the year.
The net movement in funds for the period, as shown in the statement of financial activities, for the unrestricted funds was a surplus of £2,741 (2023: £29 deficit).
The value of the Church of God Mission International UK’s net assets at 31 March 2024 was a surplus of £22,574 (2023: £10,313 surplus).
Plans for Future developments
-
In the coming year, the Charity will provide charitable support in accordance with its objects, concentrating on developing plans to contribute more to the alleviation of poverty.
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Charity walks for Kidney Research
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Food relief to members.
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Helping the needing among us.
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Encouraging mental health activities
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Sending Christmas gifts to children.
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Daily prayer support and Zoom.
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CHURCH OF GOD MISSION INTERNATIONAL UK
Statement of Trustees’ Responsibilities
Law applicable to charities in England & Wales requires the trustees to prepare financial statements for each financial year that gives a true and fair view of the Church of God Mission International UK’s incoming resources and application of resources during the year and of its state of affairs at the end of the year. In preparing those financial statements we are required to;
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select suitable accounting policies and then apply them consistently;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards and statements of
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recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is
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inappropriate to presume that the Church of God Mission International UK will continue in operation.
The trustees are responsible for keeping accounting records which disclose with reasonable accuracy at any time the financial position of the Church of God Mission International UK, which enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the Church of God Mission International UK and hence for taking reasonable steps for the prevention and detection of fraud and breaches of law and regulations.
Internal controls and the mitigation of major risks
The Trustees have identified and reviewed the major risks of the Charity and have established internal controls to mitigate these risks.
Independent Examiner
The Trustees appointed Vicom Accountancy Services Ltd as the Charity’s independent examiner. A resolution to reappoint Vicom Accountancy Services Ltd, as independent examiner will be proposed during the Trustees meeting for the year 2024
Signed on behalf of the board of Trustees
Signature:- ……………………… Date: - 27[th] January 2025
Name:- Mrs Olufunmilayo Taiwo (Trustee)
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CHURCH OF GOD MISSION INTERNATIONAL UK
TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2024 (cont’d)
CHARITY DETAILS
Charity Number
1119405
Principal Address:
Flat 2 Cutter House Macarthur Close DA8 1BQ
Accountant:
Bankers:
Vicom Accountancy Services Ltd 128 City Road London EC1V 2NX HSBC Bank Plc 47 Rye Lane Peckham London SE15 5ET
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CHURCH OF GOD MISSION INTERNATIONAL UK
Independent Examiner’s Report to the Trustees for the Year Ended 31st March 2024
We have examined the financial statements, which comprise the financial activities, the balance sheet, the related notes and the accounting policies for the Year Ended 31st March 2024 on pages 8 to 15.
Respective responsibilities of trustees and independent examiner
The Church's trustees are responsible for the preparation of the accounts. The church's trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.
It is my responsibility to:
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examine the accounts (under section 145 of the Charities Act),
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to follow the procedures laid down in the General Directions given by the Charity Commission (under section 145(5)(b) of the Act, and
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to state whether particular matters have come to my attention.
Basis of Independent Examiner’s Report
My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from trustees concerning any such matters. The procedures undertaken do not provide all the evidence that be required in an audit, and consequently no opinion is given as to whether the accounts presents a 'true and fair' view and the report is limited to those matters set out in the statement below.
Independent Examiner’s statement
In the course of my examination, no matter has come to my attention:
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which give me reasonable cause to believe that in, any material respect, the requirements
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a. to keep accounting records in accordance with section 130 of the Charities Act; and
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b. to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act; have not been met; or
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which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Independent Examiner:
Date: 30[th] January 2025
Victoria Onayemi {BA (Hons), FMAAT} Vicom Accountancy Services Ltd 128 City Road London EC1V 2NX.
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CHURCH OF GOD MISSION INTERNATIONAL UK
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2024
| INCOMING RESOURCES Voluntary Income Other Income Total Incoming Resources RESOURCES EXPENDED Cost Of Generating Funds: Charitable Activities Contracts and Grants Governance Costs Total Resources Expended Net Incoming/Outgoing Expenses Total Funds Brought Forward Total Funds Carried Forward |
Notes | UNRESTRICTED FUNDS |
RESTRICTED FUNDS |
2024 TOTAL |
2023 TOTAL |
|---|---|---|---|---|---|
| £ | £ | £ | £ | ||
| 1 2 3 4 |
29,219 500 |
9,690 333 |
38,909 833 |
21,900 47 |
|
| 29,719 | 10,023 | 39,742 | 21,947 | ||
| 26,126 - 852 |
- 500 3 |
26,126 500 855 |
20,559 - 1,210 |
||
| 26,978 | 503 | 27,481 | 21,769 | ||
| 2,741 451 |
9,520 9,862 |
12,261 10,313 |
178 10,135 |
||
| 3,192 | 19,382 | 22,574 | 10,313 |
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CHURCH OF GOD MISSION INTERNATIONAL UK
BALANCE SHEET AS AT 31 MARCH 2024
| FIXED ASSETS Tangible Fixed Assets CURRENT ASSETS Bank Building Account Building Account CURRENT LIABILITIES Creditors: Amount due within One year NET CURRENT ASSETS NET ASSET FUNDS |
Notes | UNRESTRICTED FUNDS |
RESTRICTED FUNDS |
2024 TOTAL |
2023 TOTAL |
|---|---|---|---|---|---|
| £ | £ | £ | £ | ||
| 5 6 |
368 | - | 368 | 490 | |
| 368 | - | 368 | 490 | ||
| 2,054 - 1,500 |
- 19,382 - |
2,054 19,382 1,500 |
711 9,862 9,862 |
||
| **3,554 ** | **19,382 ** | 22,936 | 10,573 | ||
| 730 | - | 730 | 750 | ||
| 730 | - | 730 | 750 | ||
| 2,824 | 19,382 | 22,206 | 9,823 | ||
| **3,192 ** | **19,382 ** | 22,574 | 10,313 | ||
| 3,192 | 19,382 | 22,574 | 10,313 |
BALANCE SHEET CONTINUED FROM NEXT PAGE
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CHURCH OF GOD MISSION INTERNATIONAL UK
BALANCE SHEET CONTINUED FROM PREVIOUS PAGE
On behalf of the board of Trustees
Signature: - ……………………… Date: - 27[th] January 2025
Name: - Mrs Oluwafunmilayo Taiwo (Trustee)
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CHURCH OF GOD MISSION INTERNATIONAL UK
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2024
ACCOUNTING POLICIES
The financial statements have been prepared in accordance with applicable Accounting Standards in the United Kingdom with the application of FRSSE and the Statement of Recommended Practice, “Accounting and Reporting by Charities” (“SORP 2000 and SORP 2005”) issued by the Charity Commission. A summary of the principal accounting policies, which have been applied consistently, is set out below.
a) Basis of Preparation of Financial Statements
The financial statements are prepared under the historic cost convention and include the results of the Charity's operations, which are described in the Trustees Report, all of which are continuing.
b) Comparative Figures
Comparative figures are shown on the statement of Accounts.
c) Incoming Resources
All income is credited to the Statement of Financial Activities on the earlier date of when they are received or when they are receivable.
d) Restricted funds
Restricted funds are to be used for specific purposes as specified within the objects of the Charity. Expenditure, which meets these criteria, is identified to the fund, together with a fair allocation of management and support costs
There was no restricted fund for this financial year.
e) Unrestricted Funds
Unrestricted funds are donations and other incomes received or generated for the objects of the Charity without further specified purpose and are available for general funds.
f) Resources Expended
Direct Charitable Expenditure includes all expenditure incurred by the Charity in direct pursuit of its charitable objectives.
Management and Administration expenditure includes all costs not directly related to the Charitable activities and cannot be allocated to direct Charitable expenditure.
g) Donated Services and Gifts in Kind
The value of donated services and gifts in kind provided to the Church Of God Mission International UK is recognised in the statement of financial activities and in the Balance Sheet at their value to the Church Of God Mission International UK as determined by the Trustees, in the period in which they are receivable, and where the benefit is both quantifiable and material.
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CHURCH OF GOD MISSION INTERNATIONAL UK
h) Tangible Fixed Assets
Tangible fixed assets with a value exceeding £100 are recognised in the balance sheet at cost less depreciation calculated at rates intended to write off the excess of the cost over the anticipated residual value of the assets on a straight line basis over their estimated useful economic lives.
Full year depreciation is charged in the year of acquisition, irrespective of the date of purchase and no depreciation is charged in year of asset disposal. The following rates are used except where the asset is on a finance lease where the lower of the period of repayment and the useful life is applied.
Equipment – 25% Motor Vehicle – 25%
i) Welfare Donation
This is a special donation carried out by all church members to enable the church meet the needs of the members who have severe financial needs.
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CHURCH OF GOD MISSION INTERNATIONAL UK
| 1. | INCOMING RESOURCES Voluntary Income: Offering Tithe Building Fund Other Income: Bank Interest Gift Aids Inter Bank Activities Total Incoming Resources |
UNRESTRICTED FUNDS |
RESTRICTED FUNDS |
2024 TOTAL |
2023 TOTAL |
|---|---|---|---|---|---|
| £ | £ | £ | £ | ||
| 5,154 24,065 - |
- - 9,690 |
5,154 24,065 9,690 |
3,910 17,830 160 |
||
| 29,219 | 9,690 | **38,909 ** | **21,900 ** | ||
| - - 500 |
333 - - |
333 - 500 |
47 - - |
||
| 500 | 333 | 833 | 47 | ||
| 29,719 | 10,023 | 39,742 | 21,947 |
| 2 Charitable Activities Charitable Activities Pastors Allowance Gift Hall Hire Storage Conference & Seminar Printing and stationery Sundry expenses |
||||
|---|---|---|---|---|
| UNRESTRICTED FUNDS |
RESTRICTED FUNDS |
2024 TOTAL |
2023 TOTAL |
|
| £ | £ | £ | £ | |
| 15,527 2,592 4,350 800 416 2,420 21 |
- - - - - - - |
15,527 1,270 4,350 800 416 2,420 21 |
11,400 1,270 3,770 1,470 1,930 416 303 |
|
| 26,126 | - | 26,126 | 20,559 |
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CHURCH OF GOD MISSION INTERNATIONAL UK
| 3 UNRESTRICTED FUNDS RESTRICTED FUNDS 2024 TOTAL 2023 TOTAL Contracts and Grants £ £ £ £ Interbank Activities - 500 500 - - 500 500 - UNRESTRICTED FUNDS RESTRICTED FUNDS 2024 TOTAL 2023 TOTAL 4 Governance Costs £ £ £ £ Depreciation 122 - 122 163 Bank Charges - 3 3 147 Accounting & Independent Examination 730 - 730 900 852 3 855 1,210 MUSICAL OFFICE 5 TANGIBLE ASSETS EQUIPMENT EQUIPMENT VAN TOTAL £ £ £ £ Net Book Value At 1 April 2023 154 287 49 490 Additions - - - - 154 287 49 490 DEPRECIATION Depreciation Charge for the year 38 72 12 122 38 72 12 122 Net Book Value At 31 March 2024 116 215 37 368 Net Book Value At 31 March 2023 154 287 49 490 |
3 UNRESTRICTED FUNDS RESTRICTED FUNDS 2024 TOTAL 2023 TOTAL Contracts and Grants £ £ £ £ Interbank Activities - 500 500 - - 500 500 - UNRESTRICTED FUNDS RESTRICTED FUNDS 2024 TOTAL 2023 TOTAL 4 Governance Costs £ £ £ £ Depreciation 122 - 122 163 Bank Charges - 3 3 147 Accounting & Independent Examination 730 - 730 900 852 3 855 1,210 MUSICAL OFFICE 5 TANGIBLE ASSETS EQUIPMENT EQUIPMENT VAN TOTAL £ £ £ £ Net Book Value At 1 April 2023 154 287 49 490 Additions - - - - 154 287 49 490 DEPRECIATION Depreciation Charge for the year 38 72 12 122 38 72 12 122 Net Book Value At 31 March 2024 116 215 37 368 Net Book Value At 31 March 2023 154 287 49 490 |
3 UNRESTRICTED FUNDS RESTRICTED FUNDS 2024 TOTAL 2023 TOTAL Contracts and Grants £ £ £ £ Interbank Activities - 500 500 - - 500 500 - UNRESTRICTED FUNDS RESTRICTED FUNDS 2024 TOTAL 2023 TOTAL 4 Governance Costs £ £ £ £ Depreciation 122 - 122 163 Bank Charges - 3 3 147 Accounting & Independent Examination 730 - 730 900 852 3 855 1,210 MUSICAL OFFICE 5 TANGIBLE ASSETS EQUIPMENT EQUIPMENT VAN TOTAL £ £ £ £ Net Book Value At 1 April 2023 154 287 49 490 Additions - - - - 154 287 49 490 DEPRECIATION Depreciation Charge for the year 38 72 12 122 38 72 12 122 Net Book Value At 31 March 2024 116 215 37 368 Net Book Value At 31 March 2023 154 287 49 490 |
3 UNRESTRICTED FUNDS RESTRICTED FUNDS 2024 TOTAL 2023 TOTAL Contracts and Grants £ £ £ £ Interbank Activities - 500 500 - - 500 500 - UNRESTRICTED FUNDS RESTRICTED FUNDS 2024 TOTAL 2023 TOTAL 4 Governance Costs £ £ £ £ Depreciation 122 - 122 163 Bank Charges - 3 3 147 Accounting & Independent Examination 730 - 730 900 852 3 855 1,210 MUSICAL OFFICE 5 TANGIBLE ASSETS EQUIPMENT EQUIPMENT VAN TOTAL £ £ £ £ Net Book Value At 1 April 2023 154 287 49 490 Additions - - - - 154 287 49 490 DEPRECIATION Depreciation Charge for the year 38 72 12 122 38 72 12 122 Net Book Value At 31 March 2024 116 215 37 368 Net Book Value At 31 March 2023 154 287 49 490 |
3 UNRESTRICTED FUNDS RESTRICTED FUNDS 2024 TOTAL 2023 TOTAL Contracts and Grants £ £ £ £ Interbank Activities - 500 500 - - 500 500 - UNRESTRICTED FUNDS RESTRICTED FUNDS 2024 TOTAL 2023 TOTAL 4 Governance Costs £ £ £ £ Depreciation 122 - 122 163 Bank Charges - 3 3 147 Accounting & Independent Examination 730 - 730 900 852 3 855 1,210 MUSICAL OFFICE 5 TANGIBLE ASSETS EQUIPMENT EQUIPMENT VAN TOTAL £ £ £ £ Net Book Value At 1 April 2023 154 287 49 490 Additions - - - - 154 287 49 490 DEPRECIATION Depreciation Charge for the year 38 72 12 122 38 72 12 122 Net Book Value At 31 March 2024 116 215 37 368 Net Book Value At 31 March 2023 154 287 49 490 |
|---|---|---|---|---|
| MUSICAL EQUIPMENT |
OFFICE EQUIPMENT |
VAN | TOTAL | |
| £ | £ | £ | £ | |
| 154 - |
287 - |
49 - |
490 - |
|
| 154 | 287 | 49 | 490 | |
| 38 | 72 | 12 | 122 | |
| 38 | 72 | 12 | 122 | |
| 116 | 215 | **37 ** | 368 | |
| 154 | 287 | 49 | 490 |
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CHURCH OF GOD MISSION INTERNATIONAL UK
| 6 Debtors: Loan to members |
UNRESTRICTED FUNDS |
RESTRICTED FUNDS |
2024 TOTAL |
2023 TOTAL |
|---|---|---|---|---|
| £ | £ | £ | £ | |
| 1,500 | - | 1,500 | - | |
| 1,500 | - | 1,500 | - |
| 7 Creditors < 1 year Creditors & Accruals: Professional Fees |
UNRESTRICTED FUNDS |
RESTRICTED FUNDS |
2024 TOTAL |
2023 TOTAL |
|---|---|---|---|---|
| £ | £ | £ | £ | |
| 730 | - | 730 | 750 | |
| 730 | - | 730 | 750 |
| 8 Professional Fees Accounting & Independent Examination 9 Pastor’s Emolument Allowance |
UNRESTRICTED FUNDS |
UNRESTRICTED FUNDS |
RESTRICTED FUNDS |
2024 TOTAL |
2023 TOTAL |
|---|---|---|---|---|---|
| £ | £ | £ | £ | ||
| 730 | - | 730 | 750 | ||
| 730 | - | 730 | 750 | ||
| 2024 TOTAL 2023 TOTAL £ £ 15,527 11,400 15,527 11,400 |
|||||
| 2024 TOTAL |
2023 TOTAL |
||||
| £ | £ | ||||
| 15,527 | 11,400 | ||||
| 15,527 | 11,400 |
10 Related party transactions
There was no related party transaction in the year.
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