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← Kingdom Gospel Church

2024-03-31-accounts

KINGDOM GOSPEL CHURCH

Preaching Christ, Transforming lives

Aims and Purposes

The Board of Trustees has the responsibility of supporting Rev Bernard Aghedo, the Senior Minister of Kingdom Gospel Church, to provide strategic spiritual leadership and direction for the Trust to fulfil its obligations for the benefits of its members or congregation and the community it seeks to serve.

Objectives and Activities

To advance the Christian faith, in accordance with the church’s Statement of Beliefs, and to pursue such other charitable purposes in such ways and in such parts of the United Kingdom or the world as the Trustees from time to time may think fit; to relieve sickness and financial hardship and to promote and preserve 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 from time to time may think fit; and to advance education in such ways and in such parts of the United Kingdom or the world as the Trustees from time to time may think fit.

There are several weekly meetings and activities organised by the Trust aimed at sharing information about the Christian faith and on the wider issues around Christian Education for the benefit of the congregation and the wider community. The Trust have been actively distributing free easy to read and understand literature on the Christian faith, some of them developed in-house by the Trust, some materials were purchased and donated to the Trust while others are complimentary materials from other Christian organisations. The distribution of these literatures is usually done through community outreach initiative, and when visitors attend any of the Trust’s worship services or meetings, where they are offered these literatures free of charge.

Achievements and Performance

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KINGDOM GOSPEL CHURCH

Preaching Christ, Transforming lives

for all, to pray, contemplate, reflect and meditate on personal and other issues that matter to them.

Financial Review

The Trust’s policy is to invest reserves in various investment options or portfolios to generate more income. The reserves shall be used for community-based projects for the benefit of both the members of the Trust and the wider public. To determine the appropriate investment portfolios, the trustees shall, from time to time, take specialist or expert advice as is necessary to be able to know the best-value, high-yield portfolios to invest in.

For the year under review, the Trust’s major source of income was donations from members of the congregation, friends, and supporters of the ministry, and Gift Aid claims from HMRC. Total Income for the year was £42,575.00 (includes Gift Aid return from HMRC of £9,726.00), while Total Expenditure was £8,704.00, meaning a net surplus of £33,872.00. In addition, at the end of the 2023–2024 financial year, the Trust had cash funds this year end of £127,840.00, showing that the Trust was in a healthy financial state or position.

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KINGDOM GOSPEL CHURCH

Preaching Christ, Transforming lives

Structure, Governance, and management

The Trust has a Board of trustees that supports Rev Bernard Aghedo in providing strategic spiritual leadership, oversight, and direction to the congregation. The Trust has a policy of appointing new trustees; the nominated person(s) must undergo full Disclosure and Barring Service (DBS) checks. Through this process, they will be vetted as to their suitability for the role. On completion of the DBS checks, the certificate issued to evidence the satisfactory character of the trustee is held on file. This is the policy of Kingdom Gospel Trust. By policy, the Trust will in return issue a copy of the Trust Deed and a copy of its Child Protection Policy as part of the induction process to every new trustee. No new trustee was appointed in the year under review.

Rev Bernard Aghedo is also supported by volunteers, for various positions and roles, necessary for the operational day to day running of the Trust to meet its commitments and obligations to members and the wider community it serves. The Trustees are grateful to the volunteers for their immense generosity, support, and selfless service.

Administrative information

The correspondence address for the Trust is: 1 Omnibus Way, Walthamstow, London E17 4QE.

The current members of the Board of Trustees are:

  1. Mr Christopher Nwoye (Chairperson)

  2. Mr Stephen Boyo

  3. Rev Martin Oriakhi

  4. Ms Bunmi Shoyinka

  5. Mr Olu Awonuga

  6. Rev Bernard Aghedo 7. Dr (Mrs) Osaretin G. Aghedo

Agreed by the Board of Trustees and signed on their behalf by Rev Bernard Aghedo, 30[th] November 2024.

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KINGDOM GOSPEL CHURCH No (if any) Receipts and payments accounts CC16a For the period 01/04/2023 31/03/2024 To from ~~gS~~ Section A Receipts and payments Unrestricted Restricted Endowment Total funds Last year funds funds funds to the nearest to the nearest £ to the nearest £ to the nearest £ to the nearest £ £ A1 Receipts Income for the year 32,135 36,943 Interest Received 715 86 HMRC 9,726 - - - - - - - - - - - - - - - - - - - - - - - - - - Sub total (Gross income for 42,575 37,029 AR) ~~==S~~ A2 Asset and investment sales, ~~===~~ (see table). - - - - - - - - - Sub total - - Total receipts 42,575 37,029 ~~S555~~ A3 Payments General Expenses 2,065 5,392 Stipend 6,000 6,000 Welfare 100 754 Miscellaneous 238 750 Accountancy 300 300 - - - - - - - - - - - - - - - - - - - - Sub total [ - ] - - 8,704 13,196 ~~=a ===~~ A4 Asset and investment purchases, (see table) - - - - - - - - Sub total [ - ] - - - - ~~—~~ Total payments ~~————~~ 8,704 13,196 Net of receipts/(payments) 33,872 23,833 A5 Transfers between funds - - - - - A6 Cash funds last year end - - - 93,968 70,135 Cash funds this year end ~~———~~ - 127,840 93,968

CCXX R1 accounts (SS)

22/11/2024

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Section B Statement of assets and liabilities at the end of the period

Categories
Signed by one or two trustees on
behalf of all the trustees
B5 Liabilities
B3 Investment assets
B2 Other monetary assets
B4 Assets retained for the
charity’s own use
B1 Cash funds		 Details
Details
Total cash funds
(agree balances with receipts and payments
account(s))
Current Account
Savings Account
Details
Details
Details
Staff Loan
Signature		 Unrestricted
funds
Restricted
funds
to nearest £
to nearest £
73,245
51,583
-
-
124,828
OK
Agreement Error
Unrestricted
funds
Restricted
funds
to nearest £
to nearest £
-
-
-
-
-
-
-
-
-
-
-
-
Fund to which
asset belongs
Cost (optional)
-
-
-
-
-
Fund to which
asset belongs
Cost (optional)
-
-
-
-
-
-
-
-
-
Fund to which
liability relates
Amount due
(optional)
10,000
-
-
-
-
Print Name
Bernard Aghedo		 Endowment
funds
to nearest £
-
-
-
-
OK
Endowment
funds
to nearest £
-
-
-
-
-
-
Current value
(optional)
-
-
-
-
-
Current value
(optional)
-
-
-
-
-
-
-
-
-
When due
(optional)
Date of
approval
Bernard Aghedo

CCXX R2 accounts (SS)

22/11/2024

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Independent examiner's report on the accounts

Section A Independent Examiner’s Report Report to the trustees Charity Name KINGDOM GOSPEL CHURCH On accounts for the year 31[ST] MARCH 2024 Charity no 1122565 ended (if any) Set out on pages PAGES 1 and 2 (remember to include the page numbers of additional sheets)

I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended DD / MM / YYYY .

Responsibilities and As the charity's trustees, you are responsible for the preparation of the basis of report accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).

I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent [The charity’s gross income exceeded £250,000 and I am qualified to examiner's statement undertake the examination by being a qualified member of [insert name of applicable listed body]]. Delete [ ] if not applicable.

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination (other than that disclosed below *) which gives me cause to believe that in, any material respect:

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.

Signed: Date:25th November 2024
~~[~~		 Date:25th November 2024
~~[~~
Name: Tim Tosin MAAT
Relevant professional AAT
qualification(s) or body
(if any):

1

Oct 2018

IER

Address: 309 Commonside East Mitcham CR4 1HE

Section B Disclosure Only complete if the examiner needs to highlight material matters of concern (see CC32, Independent examination of charity accounts: directions and guidance for examiners).

Give here brief details of any items that the examiner wishes to disclose .

2

Oct 2018

IER