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← Faith Miracle Church

2025-03-31-accounts

Company registration number: 06294487 Charity registration number: 1121590

FAITH MIRACLE CHURCH TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

Faith Miracle Church Contents

Page
Trustees' Report 1—7
Independent Examiner's Report 8
Statement of Financial Activities (including Income and Expenditure Account) 9
Statement of Financial Position 10
Notes to the Financial Statements 11—15
The following pages do not form part of the statutory accounts:
Detailed Statement of Financial Activities (including Income and Expenditure Account) 16—17

Faith Miracle Church Company No. 06294487 Trustees' Report For The Year Ended 31 March 2025

The trustees present their report and the financial statements for the year ended 31 March 2025.

Objectives and Activities

Aims and Objectives

STRUCTURE, GOVERNANCE AND MANAGEMENT

The trustees who are also directors of the charity for the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 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 directors 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 four Trustees as Julie Chukwudi and Emmanuel Achomadu have stood down as 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

Objectives

  1. The Advancement of the Christian Faith

  2. Releasing potential within the Fellowship

  3. The Relief of Financial Hardship and Relief of Sickness

  4. Advancement of Education

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.

...CONTINUED

Page 1

Faith Miracle Church Trustees' Report (continued) For The Year Ended 31 March 2025

Aims and Objectives - continued

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 inperson 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 2025 with focus on educating participants on how to excel academically, gaining access to the ivy league schools and climbing the career ladder. This seminar also covered how to build a successful business while growing in your career. The seminars were very impactful and was ran as an in-person seminar with online participation option. 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

OBJECTIVES AND ACTIVITIES

External North London

Page 2

Faith Miracle Church Trustees' Report (continued) For The Year Ended 31 March 2025

Aims and Objectives - continued

North London Church Services – Faith Miracle Church have fully continued in person services on Sunday and continues 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.

Harlow:

In Harlow Essex where we have continued to have a growing church, 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 now run weekly online for members from all our branches to access this centrally. This classes which takes place every Monday evening take place all through the year to explain: • basic aspects of FMC and 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:

Through informal interactions either with a group or one-to-one, FMC leadership continues to impact people with the primary aim of:

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 not been as much as it could have been in this financial year. This is an area we as a church need to put some hard work into together with the Evangelism department leader and the 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 carried out an uplift refurbishment of the Church lobbies, Multipurpose Hall and built storage facilities under the stairs.

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:

Page 3

Faith Miracle Church Trustees' Report (continued) For The Year Ended 31 March 2025

Aims and Objectives - continued

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

OUTREACH

•Online streaming of services and programmes have been a source of outreach in the community.

•Members are being encouraged to come up with and pursue regular outreach activities with more in person participation. Outreach to people who are homeless providing them breakfast, free clothing and toiletries and signposting to other services in the Haringey took place in the year.

•Donations of food items on a regular basis for those facing hardship due to the financial crisis continues to be carried out weekly.

•Men’s mentoring Initiative (NextGen Men) was launched

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. Our dedicated youth teachers deserve appreciation for finding a way to keep the young people positively engaged weekly. We have a Pastoral Youth Worker working with the youth and also two of our pastors assigned to the youth department as “Youth Pastors”.

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 registered 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 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.

Pastoral Team

This year additional pastoral team members were appointed following their training and induction. Pastor Matthew Nicholson, Pastor Chioma Omoviye, Deacon Babatunde Mustapha, Deaconess Ifeoma Achomadu, Deaconess Chioma Okoro, Deaconess Elizabeth Ejemole, Deaconess Caroline Shodipo, Deacon Friday Ebakivie, Deaconess Star Shava. Deacon Peter Akporhuarho.

Fundraising activities

Members are encouraged to fulfil Christian obligations to give financial support through tithes and offerings. Nonmembers 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 aim to 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 4

Faith Miracle Church Trustees' Report (continued) For The Year Ended 31 March 2025

Aims and Objectives - 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 and this has been accepted. We will keep on looking for other suitable buildings to purchase as our membership grows.

Future Plans

Conclude purchase of North London building land freehold from Haringey Council Maximise hire use of North London building facilities such as the multi-purpose room. Maxmise weekday use of the North London Building multi-purpose room for hire by a local nursery. Purchase another building as the membership grows and invest in residential properties and seek legal advice on amending our memorandium of understanding to accommodate this.

Charles M Muotto Trustee (Chair)

Public Benefit

Charitable activities

Apart from supporting members in times of need, grief and at the birth of new born babies, FMC have 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.

The trustees confirm that they have complied with the requirements of Section 17 of the Charities Act 2011 to have due regard to the Charity Commission’s guidance on public benefit.

Reference and Administrative Details

Trustees

Mr Emmanuel ACHOMADU (resigned 17/07/2025) Mrs Julie Chukwudi (resigned 17/07/2025) Charles Muotto Patricia Muotto Mr Babatunde Mustapha Mrs Mojisola Okuwoga Mrs Mojisola Okuwoga

Other Personnel

Pastor Moses Omoviye - Senior Pastor Pastor Okechukwu Okoro - Resident Pastor and Executive Deaconess Glory Udeh - Pastoral team and Executive Godson Jnr. Nnorom - Treasurer & Executive Pastor Ugochukwu E Achomadu - Resident Pastor & Executive Pastor Chioma Omoviye - Pastoral Team & Executive Pastor Osamede Ogiemwanre - Pastoral Team & Executive Charles Muotto - Executive

Charity Number

1121590

Company Number

06294487

Registered Office

John Raphael Hse

Page 5

Faith Miracle Church Trustees' Report (continued) For The Year Ended 31 March 2025

Coburg Road Wood Green London N22 6UB

Independent Examiner

George Osei KLS Tax & Accounting Limited Office 14C, IBC 316E Ilford Lane Ilford Essex IG1 2LT

Page 6

Faith Miracle Church Trustees, Report (continued) For The Year Ended 31 March 2025 Srnall Company Rules Thls report has been prepared In accordance wlth the speclal provlslons relating to companles subject to the small companles regime withln Part 15 of the Companles Act 2006. The trustees. report was approved by the board of trustees and slgned on its behalf by.. Charles Muotto Trustee 1210912025 Page 7

Faith Miracle Church Independent Examiner's Report to the Trustees of Faith Miracle Church For The Year Ended 31 March 2025

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2025.

Responsibilities and Basis of Report

As the charity 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

Since the Company’s gross income exceeded £250,000 your examiner must 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 member of The Chartered Institute of Management Accountants, 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 Company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 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.

George Osei 12/09/2025 KLS Tax & Accounting Limited Office 14C, IBC 316E Ilford Lane Ilford Essex IG1 2LT

Page 8

Faith Miracle Church Statement of Financial Activities (including Income and Expenditure Account) For The Year Ended 31 March 2025

Notes
INCOME AND ENDOWMENTS FROM:
Donations and legacies
3
Investments
4
EXPENDITURE ON:
Raising funds
6
Charitable activities:
6
Faith Miracle Church
Other
NET INCOME
NET MOVEMENT IN FUNDS
RECONCILIATION OF FUNDS:
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD
15		 2025
Unrestricted
funds
£
356,002
124		 2024
Unrestricted
funds
£
382,265
81
356,126 382,346
(1)
(278,965)
(39,105)		 -
(265,735)
(44,568)
(318,071) (310,303)
38,055 72,043
38,055
993,162		 72,043
921,119
1,031,217 993,162

The notes on pages 11 to 15 form part of these financial statements.

Page 9

Faith Miracle Church statement of Financial Position As At 31 March 2025 2025 2024 Unrestrlcted funds Total funds Notes FIXED ASSETS Tangible Assets li 246,831 253,645 246,831 253,645 CURRENT ASSETS Cash at bank and In hand 786,626 745,896 786,626 745,896 Credltors: Amounts Falllng Dué Wlthln One Year 12 (2,240) (6,3791 NET CURRENT ASSETS (LIABILITIES) 784,386 739,517 TOTAL ASSETS LESS CURRENT LIABILXTies 1,031,217 993,162 NET ASSETS 1,031,217 993,162 FUNDS OF THE CHAIUTY Unrestrlcted Funds 1,031,217 993,162 TOTAL FUNDS 15 1,031,217 993,162 For the year endlng 3 1 March 2025 the charltable company was entitled to exemptlon from audlt under sectlon 477 of the Companles Act 2006 relatlng to small companles. The member5 have not requlred the charltable company to obtaln on audlt In accordance wlth sectlon 476 of the Companles Act 2006. The trustees acknowledge thelr responslbllltles for complylng wlth the requlrements of the Act wlth respect to accountlng records and the preparatlon of accounts. These accounts have been prepared In accordance w5th the provlslons appllcable to companles subject to the small companles reglme. On behalf of the board Charles Muotto Trustee 1210912025 The notes on pages I I to 15 form part of these flnanclal statements. Page 10

Faith Miracle Church Notes to the Financial Statements For The Year Ended 31 March 2025

1. General Information

Faith Miracle Church is a company limited by guarantee, incorporated in England & Wales, registered number 06294487 and registered charity number 1121590. 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 in accordance with the Charities SORP (FRS 102) "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)", Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

The charitable company is a Public Benefit Entity as defined by FRS 102.

2.2. Incoming Resources

Donation and legacy received from members

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 depreciated
Plant & Machinery 20%
Motor Vehicles 14% Straight Line
Fixtures & Fittings 10%
Computer Equipment 20% Straight Line

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 charitable 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 statement of financial activities 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 the statement of financial activities as incurred.

2.5. Cash and Cash Equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.

3. Income from Donations and Legacies

.
Income from Donations and Legacies
2025 2024
Unrestricted Total
funds funds
£ £
Donations and gifts 356,002 382,265
  1. Investment Income

Page 11

Faith Miracle Church Notes to the Financial Statements (continued) For The Year Ended 31 March 2025

Bank interest receivable
.
Net Income/(Expenditure)
he net income is stated after charging/(crediting):
Depreciation of tangible fixed assets - owned		 2025
Unrestricted
funds
£
124		 2024
Total
funds
£
81
2025
£
6,814		 2024
£
6,814

5. Net Income/(Expenditure)

The net income is stated after charging/(crediting):

  1. Analysis of Expenditure
.
Analysis of Expenditure
Raising funds
Faith Miracle Church
Faith Miracle Church
.
Support Costs
Employee costs
Premises expenses
General administration
Depreciation
Interest payable		 Activities
undertaken
directly
£
-
38,274		 Support
costs
(see note 7)
£
1
240,691		 2025
Total
£
1
278,965
38,274 240,692 278,966
Activities
undertaken
directly
£
42,845		 Support
costs
(see note 7)
£
222,890		 2024
Total
£
265,735
Raising
funds
£
-
-
1
-
-		 Faith
Miracle
Church
£
125,359
53,245
55,263
6,814
10		 2025
Total
£
125,359
53,245
55,264
6,814
10
1 240,691 240,692

7. Support Costs

Page 12

Faith Miracle Church Notes to the Financial Statements (continued) For The Year Ended 31 March 2025

Employee costs
Premises expenses
General administration
Depreciation
8.
Independent Examiner's Remuneration
Independent examination of the financial statements
Other assurance services
Tax advisory services
Other financial services
9.
Staff Costs
Staff costs were as follows:
Wages and salaries
Social security costs
Other pension costs		 2025
£
1,250
-
-
-
1,250
2025
£
103,315
9,696
2,463
115,474		 2024
Faith
Miracle
Church
£
120,631
36,693
58,752
6,814
222,890
2024
£
-
-
-
-
-
2024
£
101,877
9,569
2,463
113,909

No employees received employee benefits (excluding employer pension costs) for the reporting period of more than £60,000.

10. Average Number of Employees

Average number of employees during the year was: 4 (2024: )

  1. Tangible Assets
1.
Tangible Assets
Cost
As at 1 April 2024
As at 31 March 2025		 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
...CONTINUED

Page 13

Faith Miracle Church Notes to the Financial Statements (continued) For The Year Ended 31 March 2025

Depreciation
As at 1 April 2024
-
Provided during the period
-
As at 31 March 2025
-
Net Book Value
As at 31 March 2025
235,000
As at 1 April 2024
235,000
Cost
As at 1 April 2024
As at 31 March 2025
Depreciation
As at 1 April 2024
Provided during the period
As at 31 March 2025
Net Book Value
As at 31 March 2025
As at 1 April 2024
12.
Creditors: Amounts Falling Due Within One Year
Net obligations under finance lease and hire purchase contracts
Trade creditors
Taxation and social security
13.
Obligations Under Finance Leases and Hire Purchase
The future minimum finance lease payments are as follows:
Not later than one year
Less: Finance charges allocated to future periods		 -
-		 61,918
-		 61,918
-		 28,350
4,515		 25,904
-
- 61,918 32,865 25,904
235,000 - (345) -
235,000 - 4,170 -
Computer
Equipment
£
23,073		 Total
£
378,415
23,073 378,415
8,598
2,299		 124,770
6,814
10,897 131,584
12,176 246,831
14,475 253,645
2025
£
-
1,251
989
2,240
2025
£
-
-
-		 2024
£
2,745
1,250
2,384
6,379
2024
£
1,568
(1,177)
2,745

14. Pension Commitments

The charitable company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charitable company in an independently administered fund.

During the year the charge to the statement of financial activities in respect of defined contribution schemes was £2,463 (2024: £2,463).

At the statement of financial position date contributions of £NIL were due to the fund and are included in creditors.

Page 14

Faith Miracle Church Notes to the Financial Statements (continued) For The Year Ended 31 March 2025

15. Movement in Funds

Unrestricted funds
General:
General unrestricted fund
Total funds
Unrestricted funds
General:
General unrestricted fund
Total funds		 As at 1
April 2024
£
993,162		 Income
£
356,126		 Expenditure
£
(318,071)		 As at 31
March 2025
£
1,031,217
993,162 356,126 (318,071) 1,031,217
As at 1
April 2023
£
921,119		 Income
£
382,346		 Expenditure
£
(310,303)		 As at 31
March 2024
£
993,162
921,119 382,346 (310,303) 993,162

16. Transactions with Trustees

During the year the expenses reimbursed to the trustees or paid directly to third parties were as follows:

2025 2024
£ £

  1. Related Party Disclosures

  2. 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 Statement of Financial Activities (including Income and Expenditure Account) For The Year Ended 31 March 2025

INCOME AND ENDOWMENTS FROM:
Donations and legacies
Donations and gifts
Investments
Bank interest receivable
EXPENDITURE ON:
Raising funds
Sundry expenses
Charitable Activities:
Faith Miracle Church
Other operating lease
Wages and salaries
Employers NI
Employers pensions - defined contributions scheme
Travel and subsistence expenses
Light and heat
Water rates
Repairs and maintenance
Premises and renovation expenses
Vehicle running costs
Software support and IT equipment
Insurance
Printing, postage and stationery
Advertising and marketing costs
Telecommunications
Independent examiner's fees
Accountancy fees
Professional fees
Consultancy fees
Bank charges
Welfare and donations
Depreciation of motor vehicles
Depreciation of computer equipment
Bank interest payable		 2025
Total
funds
£
356,002		 2024
Total
funds
£
382,265
382,265
81
81
382,346
-
-
(42,845)
(101,877)
(9,569)
(2,463)
(6,722)
(13,007)
(1,959)
-
(21,727)
(6,158)
(5,928)
(3,892)
(227)
(1,236)
(8,402)
-
(1,250)
(10,230)
(8,149)
(2,736)
(10,544)
(4,515)
(2,299)
-
(265,735)
...CONTINUED
356,002
124
124
356,126
(1)
(1)
(38,274)
(103,315)
(9,696)
(2,463)
(9,885)
(11,276)
(2,267)
(12,221)
(27,481)
(4,269)
(10,681)
(3,734)
(2,089)
(256)
(8,286)
(1,250)
-
(18,787)
-
-
(5,911)
(4,515)
(2,299)
(10)
(278,965)

Page 16

Faith Miracle Church Detailed Statement of Financial Activities (including Income and Expenditure Account) (continued) For The Year Ended 31 March 2025

Other

Other
Events and Musicans
Mission and media outreach, guest speakers
NET INCOME		 (21,946)
(17,159)		 (17,676)
(26,892)
(39,105) (44,568)
(318,071) (310,303)
38,055 72,043

Page 17