OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator. This document is also available as Markdown.

← Global Ministry Of Champions

2023-12-31-accounts

GLOBAL MINISTRY OF CHAMPIONS

REPORT OF THE TRUSTEES FOR THE YEAR ENDING DECEMBER 2023

CHARITY REG. NO. 1121346

CHARITY TRUSTEES:

SUMMARY OF CHARITY OBJECTS

ACTIVITIES OF THE YEAR

Global Ministry of Champions operates an open-door policy, which means all our activities are open to the public. We meet every Friday on the church premises for prayers and for words of exhortation. Also, on Sundays, we meet to sing praises to our God, lifting our hands in worship and listening to the word of God. We organised baptisms for members who were yet to be baptised. We organised a talk with an expert on healthy living, specifically on caring for the body and encouraging routine checkups for older people. Church members were excited about this as they engaged with the expert and asked questions for better understanding. We had a baby dedication during the year and a barbeque during the summer, open to the public. We had people walk in to have something to eat and enjoy fellowship. To us as a church, it was an opportunity to spread the love of Jesus to others. We had plenty of food to eat, outdoor games, and some sort of competition where the winners were crowned and received an award. We had passersby join in and have fun.

ACHIEVEMENTS AND PERFORMANCE

Philippians 3:14 (KJV), ‘ I press toward the mark for the prize of the high calling of God in Christ Jesus’.

The year 2023 is the year of pressing on. Throughout the year, we have learnt about the need to press on in our relationship with God and in every aspect of our lives to achieve great things and be relevant in society. For the youth, it meant consistency in their studies and the importance of maintaining a

positive attitude towards schoolwork and the church. Aside from Sunday and Friday services, we have organised bible studies coupled with prayers and fasting on specific days within the year, as well as seminars for the youths. We have recorded several testimonies from members on how the teachings have helped them strive to be a better version of themselves. Additionally, we received testimonies of people not giving up on their dreams and visions even when all odds were against them.

FINANCIAL AND INDEPENDENT EXAMINER'S REPORT

The Trustees maintained Mr. G K Donkor, a Chartered Certified Accountant working with Roknod Accountants, as our independent Examiner. The attached Independent Examiners Report details the financial achievements.

THE YEAR AHEAD

Despite the financial and other challenges, we hope to do more to support others and significantly impact the community.

DECLARATION

The Trustees declare they have approved the 2023 annual Report and Accounts as above.

Signed on Behalf of the Trustee Board

Pastor Gilbert Adjei Boatey

Date: 10[th] September 2024

GLOBAL MINISTRY OF CHAMPIONS

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023

UK CHARITY REG. NUMBER:

1121 346

GLOBAL MINISTRY OF CHAMPIONS Receipts and Payments Account

Year ended 31 December 2023

Unrestricted
Funds
2023
Receipts
Note
£
Offerings
12,361
Tithes
16,343
Thanksgiving
9,462
Fundraising
8,726
Gift aid
7,888
Bank Interests
176
Miscellaneous Income
2,650
Total Receipts
57,606
Payments
Rent/Lease
5,817
Refreshment/Food
1,493
Pastor's Salary
12,000
Church Instruments-Assets
2,782
Transportation
2,441
Visiting Pastors and Others
Bereavement Expenses
Other Charitable Activities
3,746
Total Payments
28,279
29,327
Cash and Bank balances b/fwd
23,838
53,165
Net Surplus (Deficit)
Cash and Bank balances c/fwd		 Total
Total
2023
2022
£
£
12,361
7,404
16,343
21,917
9,462
5,171
8,726
-
7,888
5,389
176
-
2,650
3,578
-
-
57,606
43,459
5,817
7,675
1,493
471
12,000
7,273
2,782
1,665
2,441
1,408
-
-
-
1,000
3,746
15,191
28,279
34,683
29,3278,776
23,838
15,062
53,165
23,838

1

GLOBAL MINISTRY OF CHAMPIONS Statements of Assets and Liabilities

At the end of the year 31 December 2023

Total Total
2023 2022
Note £ £
Bank & Deposit Balances
Current Accounts 36,768 20,237
Savings Account 16,397 3,601
TOTAL MONETARY ASSETS 53,165 23,838
Comprising
Unrestricted Funds
Restricted Funds		 53,165
-		 23,838
53,165 23,838
The accounts were approved by the Commitee on:
20 SEPTEMBER 2023
For and on behalf of the Trustees Board
___________ Pastor Gilbert Adjei Boatey

2

GLOBAL MINISTRY OF CHAMPIONS

FOR THE YEAR ENDED 31 ST DECEMBER 2023

NOTE 1 BASIS OF PREPARATION

1.1 BASIS OF ACCOUNTING

These accounts have been prepared on a Receipts and Payments basis in accordance with

Accounting and Reporting by Charities- Statement of Recommended Practice (SORP 2011); and with Accounting Standards; and with the Charities Act 145

1.2 CHANGE IN BASIS OF ACCOUNTING

There has been no change to the accounting policies (valuation rules and methods of accounting) since last year

1.3 CHANGES TO PREVIOUS ACCOUNTS

No changes have been made to accounts for previous years

1.4 MATERIAL DONATIONS

£

Material Donations include:

3

GLOBAL MINISTRY OF CHAMPIONS FOR THE YEAR ENDED 31 ST DECEMBER 2023

Note 2 ACCOUNTING POLICIES

This standard list of accounting policies has been applied by the charity.

INCOMING RESOURCES

Recognition of incoming resources

These are included in the Statement of Financial Activities (SOFA) when:

the Charity becomes entitled to the resources;

the trustees are virtually certain they will receive the resources; and the monetary value can be measured with sufficient reliability

Incoming Resources with Related Expenditure

Where incoming resources have related expenditure (as with fundraising or contract income) the incoming resources and related expenditure are reported as gross in the SOFA

Grants and donations

Grants and donations are only included in the SOFA when the Charity has unconditional entitlement to the resources.

Tax reclaims on donations and gifts

Incoming resources from Tax reclaims are included in the SOFA at the same time as the gift to which they relate.

Gift Aid

Gift Aid claimed during the year amounted to £4,613

Gifts in kind

Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised..

Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or distributed by the charity.

Gifts in kind for use by the charity are included in the SOFA as incoming resources when receivale.

Donated services and facilities

These are only included in incoming resources (with an equivalent amount in resources expended) where the benefit to the charity is reasonably quantifiable, measurable and material.

The value placed on these resources is the estimated value to the charity of the service or facility received

Volunteer help

The value of any voluntary help received is not included in the accounts but is described in the trustees' annual report

Investment income

This is included in the accounts when receivable

Investment gains and losses

This includes any gain loss on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year.

4

GLOBAL MINISTRY OF CHAMPIONS FOR THE YEAR ENDED 31 ST DECEMBER 2023

EXPENDITURE AND LIABILITIES

Liability recognition

Liabilities are recognised as soon as there is a legal construstive obligation committing the charity to pay out resources

Governance costs

Include costs of the preparation and examination of statutory accounts, the costs of trustee meetings and costs of any legal advice to trustees on governance or constitutional matters. They also include Premises costs, made up of Rent Lighting and Heating, Administrative costs including Telephone and internet, postage and stationery, as well as Travel and other Volunteers expenses

Grant with performance conditions

Where the charity gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SOFA once the receipient of the grant has provided the specific service or output.

Grants payable without performance condition

These are only recognised in the accounts when a commitment has been made and there are no conditions to be met relating to the grant which remain in the control of the charity.

Support costs

Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, eg alocating property costs by floor areas, or per capita,staff costs by the time spent and other costs by their usage.

ASSETS

Tangible fixed assets for use by the Charity

These are not capitalised but are listed at cost in the Statements of Assets and Liabilities, Therefore Depreciation is not charged

Investments

Investments quoted on a recognised stock exchange are valued at market value at the yearend. Other investment assets are included at trustees' best estimate or market value.

5

GLOBAL MINISTRY OF CHAMPIONS NOTES TO THE ACCOUNTS

Paid employees
Staff costs
Gross wages, salaries and benefits in kind and Staff
Total Staff costs		 2023
£
12,000
12,000		 2022
£
9,600
9,600

6

INDEPENDENT EXAMINER'S REPORT TO GLOBAL MINISTRY OF CHAMPIONS

CHARITY REG. NO. 1121 346

We report on the accounts of the trust for the year ended 31 December 2023 which are set out on pages 1 and 2

Respective responsibilities of Trustees and examiner

As the Charity's trustees, you are responsible for the preparation of the accounts; you consider that the audit requirement of section 144 of the Charities 2011 act (the Act) does not apply.

It is our responsibility to:

Basis of independent examiner's statement

Our examination was carried out in accordance with the General Directions given by the Charity Commissioners. 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 a consideration of any unusual items or disclosures in the accounts ,and seeking explanations from the Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently we do not express an audit opinion on the accounts.

Independent examiner's statement

In connection with our examination, no matter has come to our attention.

- to keep accounting records in accordance with section 130 of the Charities Act; and

2 to which, in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Geoffrey Kwakye-Donkor ( FCCA) Roknod Accountants Office 1 City View Offices 99 Long Street Manchester M24 6UN