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← Faith Miracle Church

2024-03-31-accounts

Registered number: 06294487

FAITH MIRACLE CHURCH TRUSTEES' REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

KLS tax & Accounting Limited

Faith Miracle Church Contents

Page
Company Information 1
Trustees' Report 2—8
Independent Examiners' Report 9
Income and Expenditure Account 10
Balance Sheet 11—12
Notes to the Financial Statements 13—15
The following pages do not form part of the statutory accounts:
Detailed Income and Expenditure Account 16

Faith Miracle Church Company Information For The Year Ended 31 March 2024

Trustees Mr Emmanuel ACHOMADU
Mrs Julie Chukwudi
Charles Muotto
Patricia Muotto
Mr Babatunde Mustapha
Mrs Mojisola Okuwoga
Company Number 06294487
Registered Office John Raphael Hse
Coburg Road
Wood Green
London
N22 6UB
Independent Examiners KLS tax & Accounting Limited
Chartered Management Independent Examiner
Office 14C, IBC
316e Ilford Lane
Ilford
Essex
IG1 2LT

Page 1

Faith Miracle Church Company No. 06294487 Trustees' Report For The Year Ended 31 March 2024

The Trustees present their report and the financial statements for the year ended 31 March 2024.

Trustees

The Trustees who held office during the year were as follows:

Mr Emmanuel ACHOMADU Mrs Julie Chukwudi Charles Muotto Patricia Muotto Mr Babatunde Mustapha Mrs Mojisola Okuwoga Resigned 10/06/2023 Mrs Mojisola Okuwoga Appointed 18/06/2023 Mr Kingsley Ofigho Resigned 14/06/2023

Statement of Trustees' Responsibilities

STRUCTURE, GOVERNANCE AND MANAGEMENT

Registered Company number 6294487 (England and Wales)

Registered Charity number 1121590

Registered office John Raphael House Coburg Road Wood Green N22 6UB

Independent Examiner George Osei ACMA/CGMA,AFA MIPA KLS Tax & Accounting Limited Suite 14C Ilford Business Centre 316e Ilford Lane Essex IG1 2LT

Solicitors Thorton Law 6 Duke Street London W1U 3EN

Bankers Barclays Bank PLC Chiswick Branch Chiswick High Road London W4 2EA

The Co-operative Bank PLC P O Box 200 Skelmersdale WN8 6GH

Trustees

Charles Muotto (Chair of Trustees) Julie Chukwudi Emmanuel Achomadu Babatunde Mustapha Mojisola Okuwoga

Company Secretary Patricia Muotto

Psychiatric Nurse Teacher Director Care Services Civil Servant Director Pharmacy Company

Regional Government Manager

...CONTINUED

Page 2

Faith Miracle Church Trustees' Report (continued) For The Year Ended 31 March 2024

Statement of Trustees' Responsibilities - continued

STRUCTURE, GOVERNANCE AND MANAGEMENT

Central Executive Committee

Pastor Moses Omoviye Senior Pastor

Postal address Faith Miracle Centre John Raphael House Coburg Road Wood Green London N22 6UB

Pastor Okechukwu Okoro Resident Pastor & Executive

Deaconess Glory Udeh Pastoral Team & Executive

Godson Jnr. Nnorom Treasurer & Executive

Pastor Ugochukwu E Achomadu Pastoral Team & Executive

Chioma Omoviye Pastoral Team & Executive

Pastor Osamede Ogiemwanre Resident Pastor & Executive

Charles Muotto Executive

E mail address: info@faithmiraclechurch.org.uk

Website: www.faithmiraclechurch.org.uk

Page 3

Faith Miracle Church Trustees' Report (continued) For The Year Ended 31 March 2024

Statement of Trustees' Responsibilities - continued

STRUCTURE, GOVERNANCE AND MANAGEMENT

The trustees who are also Trustees of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015).

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Recruitment and appointment of new trustees

The Trustees are trustees for the purposes of the Charities Act 1993 and are Trustees under the Companies Act 1985. There must be at least three at any given time and up to seven Trustees, some can be non members of the charity. The Trustees of the charity are to appoint the Trustees at the Annual General Meeting. A vacancy in the number of the Trustees may also be filled during the Charity's AGM. Each of the Trustees shall retire with effect from the conclusion of the Annual General Meeting next after his or her appointment but shall be eligible for re-election at that Annual General Meeting. Currently FMC has six Trustees.

The Trustees normally hold three meetings a year which can be in person or virtually at which a quorum of three members is required to be formed. They have the responsibility for setting the strategic aims of the charity and for approving its annual budget and accounts. The Trustees regularly review their needs for skills to meet the requirements of their strategic aims and, where necessary, identify potential new members for the Board.

Organizational structure

The Trustees delegate the day to day running of the charity to the Senior Pastor and the Central Executive Committee. Quarterly joint meetings are held to discuss updates regarding the progress towards achieving the company's strategic aims.

Induction and training of new trustees

All new Trustees are provided by the Chairman and or the Central Executive committee with an induction about the operations or workings of the Charity/Company. Training needs are kept under review by Trustees at their meetings.

Wider network

FMC is linked to other ministries and missions most of which are based on the African continent. These ministries include Global Christian Fellowship, the Valley Mission Project, Full Compassion Ministries.

Related parties

FMC is a member of the Evangelical Alliance, Faith Works, Prayer Haringey and the Haringey Association of Voluntary and Community Organisations

...CONTINUED

Page 4

Faith Miracle Church Trustees' Report (continued) For The Year Ended 31 March 2024

Statement of Trustees' Responsibilities - continued

OBJECTIVES AND ACTIVITIES

Objectives

Significant activities

Faith Miracle Church seeks to be inclusive of and welcoming to all persons of all cultures and nationalities. Its activities and events are advertised on social media, through printed literature and members’ personal contacts where they communicate their faith. Most activities are open to members and non-members on a no-cost basis. In addition to regular Sunday and weeknight services FMC meets monthly for a protracted time of prayer and preaching. The church often welcomes visitors on these occasions and sometimes hosts visiting preachers and speakers.

In summary, Faith Miracle Church seeks to:

Volunteers

Members are encouraged to participate in service to the fellowship. Wherever possible members have been given suitable responsibilities within the church community. In addition, many members give their time and talents to regularly work in the church, benefitting from learning new skills and gaining experience in administrative and social aspects of running a church. Every effort has been made to identify abilities and provide a path of training which is both educational and developmental so that a two-way benefit for the good of the church and for the individual is realized. Volunteers are helped towards recognizing and working towards fulfilling their potential. FMC may provide some financial help where appropriate.

Fellowship –

The strong sense of family involvement includes focused ministries for married men, women, young adults, youth and children. Practical and biblical teachings, fun activities, sport, music and drama provide a healthy and effective vehicle for learning and growing together. As a church the need for fellowship is of great importance to us and as such, we have explored different ways to gather in person or virtually for fellowship. There were regular couples’ seminars and broadcast online that runs on the FMC TV. Programs such as ‘Talk with the Mrs.’, and other talks/interview type broadcast are shared on the FMC TV with opportunity for the audience to interact, learn and share fellowship in such environment. Also, focused broadcast for single adults looking to get married were also covered. Our youth fellowship joins the main church service and occasionally meet just as youth fellowship on nominated days by their leaders, we run our Sunday services and Wednesday Liberation teaching services as in-person sessions with an online option on our YouTube channel and Facebook page. Members have received emotional, spiritual and practical support in times of dare need. The Men and Women fellowship had various meetings during the year inclusive of breakfast meetings and online prayers etc. They also communicate on WhatsApp forums during the year, and this is the same for other departments in the church. The caring ethos of FMC is consciously reinforced by its leadership, and this continues to shine through in our day-to-day dealings with members and our wider community.

The advancement of education –

FMC hosted “Success Seminar” in January 2024 with focus on educating participants on how to climb the career ladder, grow social media platforms and business/entrepreneurial success. This seminar was very impactful and was ran as and in-person seminar with the videos of the teachings later uploaded to FMC’s social media platforms. There have been weekly bible study and liberation teaching services which helped to educate people on the bible and various other aspects of life. The children aged 3 to 11 years old Sunday school continued to run weekly empowering the children with vital biblical lessons for living.

Internal & External factors Internal

We have good up to date teaching facilities for adults and children The environment is safe and meets good standards of cleanliness The facilities are suitable for events and functions

Full time staff: Senior Pastor

Media Administrator Personal Assistant to the Resident Pastor Pastoral Youth Worker

Consultant: Office Administrator/Manager

...CONTINUED

Page 5

Faith Miracle Church Trustees' Report (continued) For The Year Ended 31 March 2024

Statement of Trustees' Responsibilities - continued

OBJECTIVES AND ACTIVITIES External

North London

-We have external support from Haringey Voluntary services, the Evangelical Alliance and members of Faith Works -Most of our services were streamed from this location during this financial year.

North London Church Services – Faith Miracle Church services have fully continued in person services on Sunday and started to convene majority of our programmes and departmental activities in person. Sunday Church services are well-managed by members and leadership collaborating to provide excellent opportunities to meet for worship and to give expression to their faith. Key departments of the fellowship have opportunity to lead or participate in services when appropriate. In this financial year, many departments have operated full functions with new leaders appointed into some of the departments to keep driving forward the FMC vision.

South London:

Sunday Service which was stopped at the South London rented venue due to the Covid pandemic restrictions has not resumed yet since the end of pandemic due to lack of venue availability. However, members have continued to access Sunday services online or attend in person fellowship and events at the North London branch. In this financial year we have encouraged the brethren to have in-person Wednesday night Liberation Services in South London hosted in one of FMC’s members house to enable the brethren to gather together in fellowship weekly.

Harlow:

In Harlow Essex where we have continued to have a growing group, they have continued to meet in person this financial year in a rented venue for Sunday services and have continued to grow stronger since we started the Harlow branch of FMC. We look to continue to strengthen the branch in the next financial year.

Membership classes take place in all our branch churches in the course of the year to explain:

•basic aspects of Christian belief

In this financial year, FMC continue to encourage the small liberation service centre groups which we established to keep meeting in designated homes. These less formal meetings encourage and foster relationships at local level and help build confidence and knowledge of the scriptures. Some of such gatherings include:

•logging into the Sunday Services which are live streamed

•Logging into the Wednesday Liberation Services which are live streamed.

Through informal interactions either with a group or one-to-one, FMC leadership continues to impact people on subject topics from:

•The Discipleship Class which is a course of advanced Bible Study.

ACHIEVEMENT AND PERFORMANCE

Faith Miracle Church has seen a positive and exciting area of growth in the life of the church and has impacted in developing both in person and virtual services and events. The church has maximised its potential to reach many people and other churches beyond our borders and for this we are grateful to God for His help. Many individuals and churches have continued to enjoy the live streaming. Members have become more aware of abilities, responsibilities and opportunities to take the gospel message to a greater and widening circle maximizing the use of technology to live stream services and pre-record activities. The Senior Pastor along with the pastoral executive officers have worked tirelessly to foster and maintain high quality of teaching and regular links to international ministries. There has continued to be vibrant and enthusiastic growth with the online services. Street Evangelism has also continued in this financial year with the hard work of Evangelism department leader and a Mission and community outreach leader.

We are continuing to build key relationships with a wider community membership and to diversify and extend the support we offer in the local community.

We were able to recruit a Pastoral Youth Worker in this financial year who has since resumed and started working in the church.

Events – These generally have followed the church calendar with all the programs scheduled for the year executed to the glory of God. Christian celebrations and festivals were observed. Seminars and training programmes to support the organisation’s policies and activities took place.

Other notable events included:

...CONTINUED

Page 6

Faith Miracle Church Trustees' Report (continued) For The Year Ended 31 March 2024

Statement of Trustees' Responsibilities - continued

The Liberation Services has continued to provide an avenue of advanced Bible study and serious commitment to the ministry of the Church.

OUTREACH

•Regular outreach activities with more in person participation has resumed fully with outreach to people who are homeless providing breakfast, free clothing and toiletries and signposting to other services in the Haringey.

Youth Activities

The youths who are encouraged to take responsibility for media content and delivery for the church have continued to grow in these areas with new additional hands incorporated into the team regularly. Advice and practical help from more experienced members is available where necessary. Drama performances with life-enhancing and inspirational messages to reach children and adults are a strong and engaging feature of these events, however, there was limited opportunity to progress this due to hands needed. With the church hiring a new Pastoral Youth Workers in this financial year, some of the vision will be to develop a youth choir that can also get the youths involved in the main church choir and worship ministry. Our dedicated youth teachers deserve appreciation for finding a way to keep the young people positively engaged weekly.

Children’s Ministry

Our younger children take part in services: singing, reading poems and passages of scripture and short plays and sketches. The standard of performance and quality of presentations has continued to excite and uplift. The need to develop the children’s musical abilities so that they move towards managing some or all of their worship times has been acknowledged and there remains a plan to get dedicated hands to help execute this future developmental plan for them. Some families has taken up the challenge and register their children to learn how to play certain instruments. These children are from time to time given opportunity to showcase their skills in church services.

A dedicated team has worked consistently with the children to teach aspects of personal faith as described and understood through Scripture. Biblical principles are discussed and explained in ways that relate to their everyday experiences. Audio and video programmes with music have been well received.

Charitable activities

Apart from supporting members in times of need, grief and at the birth of new born babies, FMC have over the years supported charitable activities in the UK and outside the UK through the ministries of: Global Christian Fellowship, the Valley Mission Project, Full Compassion Ministries and Daniel Chand Ministries. The international ministry work supports widows, orphans, scholarships, promoted health care and assisted communities to be more sustainable.

Management

The Trustees held regular communication with the central executive team where necessary policies, procedures and strategies were reviewed where needed in line with current good practice and legal requirements. Some departments successfully self-fund while others are being trained to work within a budget. Some changes in management structure have resulted in additional devolved responsibilities to the Resident Pastors with added scope for volunteers to work with more responsibility in the organization. Sensible and transparent procedures to protect employees and volunteers are constantly reviewed. The trustees have continued to work with the Senior Pastor and the central executive on strategic issues.

Fundraising activities

Members are encouraged to fulfil Christian obligations to give financial support through tithes and offerings. Non-members and visitors may donate to specific projects either in person or online.

FINANCIAL REVIEW

Principal funding sources

The Financial committee review income and expenditure and assess employees’ salaries alongside needs and requests that have arisen.

The main funding source is currently through voluntary donations from members - tithes and offerings - which have maintained through the current year. On-line payment facilities have continued to be enhanced.

Other sources are through one-off voluntary donations for a specific project. We also generate income from rental of our halls and instruments. Our business plan considers other sources of income from charges for the use of facilities and services.

Reserves policy

...CONTINUED

Page 7

Faith Miracle Church Trustees' Report (continued) For The Year Ended 31 March 2024

Statement of Trustees' Responsibilities - continued.

The reserves policy of FMC is to build up to a level of free reserves, taking one year with another, amounting to one year's operating costs, in order that staff security and continuity of work are secured. With the opening of branches of Faith Miracle Church in other locations, the trustees also support the ongoing enquiry into investment opportunities in the form of possible building purchase to provide a stable place of worship for all of FMC’s locations. We have been building up our savings in order to purchase the freehold of the North London building and have submitted our intention to Haringey Council who hold the freehold. We will keep on looking for other suitable buildings to purchase as our membership grows.

Future Plans

Maximise hire use of North London building facilities such as the multi-purpose room which was ones hired by another church on Sundays.

Maxmise weekday use of the North London Building multi-purpose room – currently exploring hire by a local nursery. Purchase another building as the membership grows and invest in residential properties

Charles M Muotto Trustee (Chair)

23/12/24

Approved by order of the board of trustees on................... day of ............................ 2024

And signed on its behalf by:

Charles Muotto (Dec 23, 2024 13:18 GMT+1)

Mr Charles M Muotto Chair of Trustee

Page 8

Faith Miracle Church Independent Examiners' Report For The Year Ended 31 March 2024

I report on the accounts for the year ended 31 March 2024.

Respective responsibilities of trustees and examiner

The charity's trustees (who are also the Trustees for the purposes of company law) are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year (under Section 144(2) of the Charities Act 2011 (the 2011 Act)) and that an independent examination is required. Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:

Basis of the independent examiner's report

My examination was carried out in accordance with the 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 you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair view ' and the report is limited to those matters set out in the statements below.

Independent examiner's statement

In connection with my examination, no matter has come to my attention:

  1. which gives me reasonable cause to believe that, in any material respect, the requirements

  2. to keep accounting records in accordance with Section 386 and 387 of the Companies Act 2006; and

  3. to prepare accounts which accord with the accounting records, comply with the accounting requirements of Sections 394 and 395 of the Companies Act 2006 and with the methods and principles of the 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 2015)

have not been met; or

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

Signed ~~allp=~~

09/12/2024 KLS tax & Accounting Limited Chartered Management Accountant Office 14C, IBC 316e Ilford Lane Ilford Essex IG1 2LT

Page 9

Faith Miracle Church Income and Expenditure Account For The Year Ended 31 March 2024

Notes
TURNOVER
GROSS SURPLUS
Administrative expenses
OPERATING SURPLUS
Other interest receivable and similar income
SURPLUS FOR THE FINANCIAL YEAR
The notes on pages 13 to 15 form part of these financial statements.		 2024
£
382,265
382,265
(310,303 )
71,962
81
72,043		 2023
£
329,882
329,882
(270,953 )
58,929
671
59,600

Page 10

Faith Miracle Church Balance Sheet As At 31 March 2024

Notes
FIXED ASSETS
Tangible Assets
4
CURRENT ASSETS
Debtors
5
Cash at bank and in hand
Creditors: Amounts Falling Due Within One Year
6
NET CURRENT ASSETS (LIABILITIES)
TOTAL ASSETS LESS CURRENT LIABILITIES
Creditors: Amounts Falling Due After More Than
One Year
7
NET ASSETS
RESERVES
Capital redemption reserve
Income and Expenditure Account
MEMBERS' FUNDS		 2024
£
£
253,645
253,645
-
745,896
745,896
(6,379 )
739,517
993,162
-
993,162
388,130
605,032
993,162		 2024
£
£
253,645
253,645
-
745,896
745,896
(6,379 )
739,517
993,162
-
993,162
388,130
605,032
993,162		 2023
£
£

248,879

248,879
10,000
673,169
683,169
(8,184 )

674,985

923,864

(2,745 )

921,119

388,130

532,989

921,119		 2023
£
£

248,879

248,879
10,000
673,169
683,169
(8,184 )

674,985

923,864

(2,745 )

921,119

388,130

532,989

921,119
253,645




739,517		 248,879




674,985
745,896
(6,379 )		 683,169
(8,184 )






993,162 923,864
- (2,745 )
993,162 921,119
388,130
605,032		 388,130
532,989
993,162 921,119

Page 11

Faith Miracle Church Balance Sheet (continued) As At 31 March 2024

For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

On behalf of the board

Charles Muotto (Dec 23, 2024 13:18 GMT+1)

Charles Muotto Trustee 09/12/2024

The notes on pages 13 to 15 form part of these financial statements.

Page 12

Faith Miracle Church Notes to the Financial Statements For The Year Ended 31 March 2024

1. General Information

Faith Miracle Church is a private company, limited by guarantee, incorporated in England & Wales, registered number 06294487 . The registered office is John Raphael Hse, Coburg Road, Wood Green, London, N22 6UB.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold Not depreciatied Plant & Machinery 20% Motor Vehicles 14.06% Fixtures & Fittings 10% Computer Equipment 20%

2.4. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the income and expenditure account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to income and expenditure account as incurred.

3. Average Number of Employees

Average number of employees, including Trustees, during the year was: 7 (2023: )

Page 13

Faith Miracle Church Notes to the Financial Statements (continued) For The Year Ended 31 March 2024

4. Tangible Assets

4. Tangible Assets
Cost
As at 1 April 2023
Additions
As at 31 March 2024
Depreciation
As at 1 April 2023
Provided during the period
As at 31 March 2024
Net Book Value
As at 31 March 2024
As at 1 April 2023
Cost
As at 1 April 2023
Additions
As at 31 March 2024
Depreciation
As at 1 April 2023
Provided during the period
As at 31 March 2024
Net Book Value
As at 31 March 2024
As at 1 April 2023
5. Debtors
Due after more than one year
Gift Aid Receiveable		 Land &
Property
Freehold
£
235,000
-		 Plant &
Machinery
£

61,918

-		 Motor
Vehicles
£

32,520

-		 Fixtures &
Fittings
£

25,904

-
235,000
61,918
32,520
25,904
-
-
61,918

-
23,835

4,515
25,904

-
-
61,918
28,350
25,904
235,000
-
4,170
-
235,000
-
8,685
-
Computer
Equipment
£
11,493
11,580		 Total
£

366,835

11,580
23,073
378,415
6,299
2,299
117,956

6,814
8,598
124,770
14,475
253,645
5,194
248,879
2024
£
-		 2023
£
10,000

Page 14

Faith Miracle Church Notes to the Financial Statements (continued) For The Year Ended 31 March 2024

6. Creditors: Amounts Falling Due Within One Year

. Creditors: Amounts Falling Due Within One Year
Net obligations under finance lease and hire purchase contracts
Trade creditors
Taxation and social security
. Creditors: Amounts Falling Due After More Than One Year
Net obligations under finance lease and hire purchase contracts
. Obligations Under Finance Leases and Hire Purchase
The future minimum finance lease payments are as follows:
Not later than one year
Later than one year and not later than five years
Less: Finance charges allocated to future periods		 2024
£
2,745
1,250
2,384
6,379
2024
£
-
2024
£
1,568
-
1,568
(1,177 )
2,745		 2023
£
4,702
1,500
1,982
8,184
2023
£
2,745
2023
£
3,960
1,568
5,528
(1,919 )
7,447

7. Creditors: Amounts Falling Due After More Than One Year

8. Obligations Under Finance Leases and Hire Purchase

9. Company limited by guarantee

The company is limited by guarantee and has no share capital.

Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.

Page 15

Faith Miracle Church Detailed Income and Expenditure Account For The Year Ended 31 March 2024

TURNOVER
Donations
Rental income
Gift Aid Income
GROSS SURPLUS
Administrative Expenses
Wages
Social security
Pensions
Travel and subsistence expenses
Other operating lease
Light and heat
Rates and Water
Premises and renovation expenses
Vehicle running costs
Software support and IT equipment
Missions and media outreach, guest speakers
Insurance
Postage and stationery
Printing
Advertising
Telephone
Website costs
Accountancy and legal fees
Professional fees
Consultancy fees
Subscriptions
Bank charges
Welfare and donations
Events and musicians
Depreciation of plant and machinery
Depreciation of motor vehicles
Depreciation of computer equipment
Sundries
OPERATING SURPLUS
Other interest receivable and similar income
Bank interest receivable
SURPLUS FOR THE FINANCIAL YEAR		 2024
£
£
320,124
-
62,141
382,265
382,265
101,877
9,569
2,463
6,722
42,845
13,007
1,959
21,727
6,158
5,928
26,892
3,892
227
-
1,236
8,402
-
1,250
10,230
8,149
-
2,736
10,544
17,676
-
4,515
2,299
-
(310,303 )
71,962
81
81
72,043		 2024
£
£
320,124
-
62,141
382,265
382,265
101,877
9,569
2,463
6,722
42,845
13,007
1,959
21,727
6,158
5,928
26,892
3,892
227
-
1,236
8,402
-
1,250
10,230
8,149
-
2,736
10,544
17,676
-
4,515
2,299
-
(310,303 )
71,962
81
81
72,043		 2023
£
£

248,594

40,529

40,759

329,882

329,882
84,972
8,616
4,980
-
18,369
8,965
-
15,327
6,521
5,560
48,447
5,017
145
2,844
535
8,009
125
1,500
5,277
-
1,638
1,803
15,825
10,883
2,046
4,515
2,299
6,735

(270,953 )

58,929
671

671

59,600		 2023
£
£

248,594

40,529

40,759

329,882

329,882
84,972
8,616
4,980
-
18,369
8,965
-
15,327
6,521
5,560
48,447
5,017
145
2,844
535
8,009
125
1,500
5,277
-
1,638
1,803
15,825
10,883
2,046
4,515
2,299
6,735

(270,953 )

58,929
671

671

59,600
382,265
382,265




























(310,303 )		 329,882
329,882




























(270,953 )
81

671
71,962

81		 58,929

671

72,043 59,600

Page 16

Faith Miracle Church

Final Audit Report

2024-12-23

Created: 2024-12-23 By: Osei George (george@klsaccounting.tax) Status: Signed Transaction ID: CBJCHBCAABAAj37HvnJLVtrJOJTGxsTnetFQ8Xn9TJ7B

"Faith Miracle Church" History

2024-12-23 - 12:10:05 PM GMT

Document emailed to Charlse Muotto (ctoosolid@gmail.com) for signature

2024-12-23 - 12:10:10 PM GMT

2024-12-23 - 12:13:51 PM GMT

Agreement completed.

2024-12-23 - 12:18:09 PM GMT