Registered Company Number 05471608 IEngland and Wales) Registered Charity Number 1131256 REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 FOR THE REALITY OF GRACE MINISTRIES INTERNATIONAL LIMITED
THE REALrrY OF GRACE MIYISTRIES IKfERNATIOT*AL LIMrrED CONTETrrf OF THE FtNAYCI.4L STATEMEYrs FOR THE YE.4R EJDED 31 I1.4RCH 2025 Rcport of thc Trustccs Independent Examiner's Report Statement of Financial Actis'iiies Balance Sheet Cash Flow Sttiemeni Notes to the Cash Flow Statement io Notes to the Financial Staternent 11-14 tktailed Stat¢ment of FiDaDcial ACtitICS 15
THE REALrrY OF GRACE MIYISTIUES IKfERNATIOT*AL LIMrrED REPORT OF THE TRUSTEES FOR THE YE.4R ENDED 31 .11.4RCH 2025 The trustees who are also directors of the charity for the PUTPOSes of the Cotnpanies Act 2006. pre5enl their report with the financidl statements of the charity for the year ended 31 March 2025. The trustees have adopted the provisions of ALcuunting Reportin¥ by Charities.. Stalernent of Recorntnended Practice appliLable to charities prepaTing their accounts in aLLorddnLe with the Financial Reportingy Standard applicable in the UK alld Republic of Ireland {FRS 1021 leffectie l January 20191. OBJECTIVES AND ACTtVITIES The Charity's tsbjeets are: "Topreuch and declare to the worldthe malch1£55 Grace of God.. "Th£ relief ofpoverly worldwide." Our motto. To snoÉeh sinnersfrom ihegni?.s of.soÉan, esloblish ihem in ihe libety wherewiih Chrifi hos sei ihewifree . To help them to diJLover God'splan andpurpoJefor iheir lifg. iofulfil 1£ Topr£pore ihemfor ih£ some coming of ourLord Jesus Chris1" Thc8c Object are charitable and operate for the public benefit_ It pursuc% thcse objccts by the operation of a ccntre for Christian worship at it% prcmiscs in London. In dctcm]ining how bcsi to pursuc ihcsc objccLs Ihc TnLStccs havc given regard to th¢ Charity Commission's guidancc on public bcn¢fJt_ Objectives aims Th¢ Charity'5 object is th¢ advanc¢m¢nt of th¢ ¢vang¢lical Christian faith worldwi(k. Our sirat¢gy in fulfilling this objwtiv¢ in particular but not ¢xclu5iv¢ly is to ¢i'ang¢lis¢ and sprud th¢ Gospcl and th¢ t¢achings of th¢ Christian Faith by.. -Holding regular Worship Services in predefined ihemes ioprovide a bedrocK- forgrow'ing iiieniher.s in ihe Faiih -Building a ctsmm£iFRitv ofspirit-filled Chri.fllall.f relaiionalli.. cnnneciedin church life clt1fler.fmallgroup.f nalionally -Ruptpting regular Chri.Ylian.fervice.f via Social media plllrform.Y_ -PYi)ducing di.vkrÈhuting of¢reative Chri.Yiian medio -Buildifrtg I)peytttÈg & Chri.Yiiun Bible-bu.fed IYI)rship Cenlre in London. UK ii'iih ihe llbilEty lo senie oiher lo¢ailoS -Creoliptg a Developmeni Trockfor members ihoi shows tt ¢lellr irnnsiiionfromjoining illl ihe), aiv developed io fjiifll iheir God ¢irduiK¢dpurpose I.$0¢$ty -Pmvision of Various Coufrtselling Pastoral Help Sen'ices. Significant aCtitieS Voluntccrs arc involvcd in thc activities conducted by Thc Reality of Gracc Ministrics Int¢rnational including.. -operating Sday. -llid-1.ek.$grniC£.% nighi v'igil.f. -Running vdrious life stdge minisiry events As th¢ Global Pand¢rnic has wound down, our outr¢ach has ¢xpandcd atMI ¢nabl¢d us to maintain th¢ following initiativ¢s= -Ruititifrtg servÈces on-site tttsd.,VidweekprogrnninRes boili defiiied lo¢ttiÉons onllne. -Leadipkg Small Groups home ¢ellgroups ai various loealion London_ In thc considcration of our activitics, Ihc Trustccs havc givcn rcgard to th¢ Charity Cominission's guidancc on public bcncfit. Strategies Thc Charity'5 Stratcgy for achicving this objcctivc for thc public bcncfjt was: To reposition itself to cffectivcly rcach those prcscntly outsidc of its dominant dcmogrdphic and fulfil thc i'ision of th¢ church_ C.onlinu¢d.-- Page
THE REALrrY OF GRACE MIYISTIUES IKfERNATIOT*AL LIMrrED REPORT OF THE TRUSTEES FOR THE YE.4R ENDED 31 .11.4RCH 2025 Significant artivitie5 that contribuied to ihe achievement ofthe5e objeclives were." Events and activiti¢s organi8¢d during the y¢ar in line with the charitable objectivo to promot¢ th¢ Christian faith and h¢lp the le55 privilege and disadvantaged in our community includes.. Holding church services and meeting three tirnes a week, evangelism, visiting the Sick in homes and hospitals and counselling. Youth Progratnmc which attempts to cngagc thc youths and kecp them off the strcct and crime. The charity has over 20 volunteers who support and nuke an invaluable contribution to the operations of the charity- Some of the key departments include.. Intercessory Group; Children's Church; Ushering t)epartment= Youth Church- Men's Fellowship,. Women's Group,. Evangelism- Technical- Video and Media,. Choir,. Ho8pitslity. ACHIEVEMENTS AND PERFORM.4NCE Th¢ rcsults for th¢ y¢ar, and th¢ financial position as at th¢ y¢ar ¢n(t arc as s¢t out in th¢ anach¢d financial statcm¢nts. Th¢ Trust¢cs con5id¢r thc rcsults to bc satisfactory. Th¢ curr¢nt poli¢y of th¢ Trust¢cs is to nintain cash rcscrvcs of bctwccn £5,000 and £1 0,000. Thc rninimum shall not fall b¢10. £5,000_ As part of this policy, thc Inininiwn IcN¢l of cash reScrv, whilst forming part of the working capital. is rcgardcd by the Trustcc8 as being aailable solcly to rncct unforc%e£n cxpcnditurc ari%ing outside the scopc ofnormal day-to4ay actiiitics_ The rcquircmeni was fuifillcd or cxcceded throughout thc financial ycar. FINANCIAL REVIE Principal funding sources Th¢ Charity's principal funding sourc¢ is from m¢mb¢rs and Itividual5 who att¢nd s¢rvi¢¢s and mak¢ contributions in th¢ fomi of freewill offerings, tithes and other donaiions. IDVCStment policy and objectives The trusiees are of the opinion that the perfomMnce ofthe chariiy from a financial standpoinl is in line wilh their expectations and plans loi the chariiy. Reserves policy As at 3 1st MaiLh 2025, the level of reseTves available for (he Chariry's use (i.e. unrestricied fvnds and not Tepresented by fixed asseisl was £335,984 These resereS are held to ensure ihat we can meel our conllnitments 10 providing our services and activities and statTing obligaiions in the eveni of a reduLtion or absence of funds/N'olunieet donaiions . and to mtti some key events thai are Lapital innSiVe. FUTURE PLANS The Charity will continue to explore ways of furthering its chatitable objeeiives in an effective manner by ensuring there is awareness of its smices and by seeking OPTK)rtunilies to be more involN"ed in ihe community. The Charity ll11 continue to sttk ways io improve its services and activities io meei the needs of the local cornmuniry in a way thai will contribute to a positive change in ihe mordl and spiritual climate in its environs to reflect its Christian ethos and beliefs. STRUCTURE, GovERNNCE AND mNAGEmEy[ Govcrning document The ChutLh is a charitable company limiied by guarantee. 1nc0tporad on 3rd June 21M)i and registered as a charity on 20th August 2009. It 1% governcd by it% Mcmorandurn and Articlc8 of Associaiion and is managcd by a Board of TnLsiee%. Decisions dre detemiined by a simple majorily vote by ihe Trusiees who sei the strategic direciion of the ChaTiIy. D¢l¢gated authority has b¢¢n giv¢n to th¢ Ex¢cuti3-¢ Pastor and Lud¢rship Team for the day-to-day running of the operations of the Charity. The Trustees have assessed the major risks to which the Charity is exposed. in particular ihose ielating io the specific opcraiional 'arcas of th¢ Charity and its financcs. Th¢ Trustccs bclicvc that by monitoring rcscrvc Icvcls, by cnsuring controls exist over key financial systems and by examining the operational and business risks faced by the Charity. they havc cstablishcd cffcctivc 'systcms to rnitigaic thosc risks. C.onlinu¢d.-- Page 2
THE REALrrY OF GRACE MIYISTIUES IKfERNATIOT*AL LIMrrED REPORT OF THE TRUSTEES FOR THE YE.4R ENDED 31 .11.4RCH 2025 The rernuneration of the charity'5 key Tttsnacelnent petsonnel 15 rniewed and set annually by the trustees. The tollowing g uiding principles are used in detertnining the appropriate level.. Transparency. Appropriateness and benchmarking agdinst extertvdl 'Lomparator5; Expertise and experience.. and Cotnpetitive recruitment and talent relention. Reerultmettt and appollltment of new trustees Trustees are Selected on the basis of the contribution that they will make to the gFovernance of the orgFanisation and the skills that they will contribute. They are provided w'ith copies of the"Charity Cottllni55iOT]'s Guidance to Trustees" and are also provided with training a5 and when required. Risk management The Trustee5 review the rnajor Tisks that the eharity is expos1 to at their tneetings and are satisfied that systerns are in place to IllLlndge the risks that have been identified. particular: IT15urance coN"er is in place and the fi[nCeS of the Charity are kept under ieview. Appropriate Discli)5ure & Batting Service Lheck IDBSI. supputied by regularly rei.le'ed policies are done for all those who work with children or othei wlnerable group5 Wlth the Chatity. Internal control risks are miniinised by the implementation of procedures for authorisation of significant tran5action5 and projects. Procedures are in place to ensure compliance with health and safety of tnembers of staff. i"olunteers. clients and Nrysitors to the Charity. Qualified and appropriately experienced employees are appointed aDd external CODsultaDts are engaged to adse on sIgfICant issues. Continued... Page 3
THF. RF.AI.tTY OF GRACF. MtYlSTRIF.S tNTF.RliA TIOliAI. I.IMITF.D RF.PORT OF THF. TRUSTF.F.S FOR THF. YF..4R F.NDF.D 31 NI.4RCH 2025 REFERENCE AND ADMINISTIL4TITrI DETAILS The Realliy of Graee Vision-Sn411ch sinneis frorn the gnp of satat4 establish thetn in the liberty 'here ChTiSt ha5 set them free, help them discover their purtMTrSe for liTring and prepare Ihetll lor the 500ll return of Our Lord Jesu5 Christ. Trustees and Direetors Andrew Okungbowa Emmanuel Agholor Olaidc Rokosu-Euzcbio Compkiny's secretary Olaide Rokosu-Euzebio Presiding Pastor Pastor Oluwole Adekunle Registered Compart). number 05471608 (EngFland and Wales) Registered Charity number 1131256 Registered office 124 City Road London ECIV 2NX Bankers HSBC UK 85 Lewisham High Street London SE13 6BE Independent Examiners Tolulope Fasanya, AFA MIPA Institute ot Financial AccoLLntants Anchor Busincss Solutions Limitcd 25126 Rabans Close Aylegbury HP19 8RS C.ynlinu¢d.-- Page 4
THE REALrrY OF GRACE MIYISTIUES IKfERNATIOT*AL LIMrrED REPORT OF THE TRUSTEES FOR THE YE.4R ENDED 31 .11.4RCH 2025 STATEMETrU OF TRUSTEES, RESPONSIBILITIES The trustees Iwho are d150 the directors of The Reality of Grace Ministtie5 International for the putposes of ¢ompany13wl are respunsible tor pieparing the Report of the Trus(ee5 and the financial statetnent5 in accordance with applicable law and United Kinbdon] Accounting StaDdatds (United Kingdom Gellerally Accepted AccountiDg Practice). Cornpany law requires the tslee5 to prepare financial statements for each financial year which give a true and fair Niew of the state of affairs of the chatitable company and of the incoming re50urce5 and application of resources. including the incorne and expenditure, of the charitable company for that period. In preparing those financial statements, the IStee5 ale required to.. select suitable accounting policies and then apply thetn consistently. - obsme the methods and principles in the Charity SORP- ntske jud¥ements and estimate5 that are reasonable and ptudent. - state 'hether the applicable accounting standards haTre been followed, subje£t to any tnaterial departure5 th"sclosed and explained in the financial statement5; and - prepare the financial statetnents on the going concetD basis unless it is inappropriate to presurne that the chatitable company will continue in business. The trustees are responsible for keepin& proper accountinLy records which disclose with reasonable accuracv at any time the financial p05ltion of the charitable COTnpanY and to enable thern to ensure thal the financial staternents cornply with the Cornpanies Act 2006. They are also responsible for safe¥uarding the a55ets of the charitable conipany and haice for taking reasonable steps for the prevention and detection of fraud and other it[eLlariti¢5. This report was appioTrEd by the board of trustees and signed on their behalf by-. Andrew Okungbowa 04 December 2025 Page 5
THE REALrrY OF GRACE MtNISTRIES tNTERNATIONAL LIMITED FtNANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 INDEPENDENT EXAMIII'ERS REPORT Independeni Examin&s Report to ihe trustees of The Reality of Grace Minislries International Limited l Teport on the accounts of The Rcality of Grdcc Ministrics International Limitcd for the year cnded 31 MaTch 2025 whiLh coinprisc the Staietnent of Financial Activities, the Surnrnary Incovnc and Expcnditurc Accoun¢ the Balance Shect, the Statement of Cash Flows and the related notes. Respective responsibilities of trustees and examiner The trustees (who are also directors of the charitable company for the purposes of company law} are Tesponsible for the prcparatiun of the acLount5. The truslces Lunsidcrihai an audit is not required for this ycar under the Charities Act 2011, s.144(2) (the 2011 Acl} and that an independent examination is needed. Having satisfied myself that the charity is not subjcci to audit undcT company law and is eligible for independent cxamination, il is rny responsibility to.. examine the accounts under s.145 of ihe 2011 Act- to follow procedures laid dowi in the general DiTections given by the Charity Commission under s.145(5){b) of the 2011 Act; and io state whether particular matters have come lo my attention. Basis of independent examiner's report My examination was carried out in accordance with the general direclions 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 OT disclosures in the accounts and seeking explanations from you as trustees concerning any such matters. The procedures do not provide all the eidenCe that would be required in an audit, and consequently no opinion is 2iven Ms to whether the accounts present a "true and fair" view and the report is limited to those n]atters sei out in the statcn]cnt bclow.. Independent examiner's statement In connection with my cxaminaiion. no mattcr has comc to my attention: ( l ) ,hICh gives me reasonable cause to believe that in any material respect the requirements.. to keep accounting records in accordance with the Companies Act 2006, s.386 and to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Charities Statement of Recommended Practice: Accounting and Reporting by Charities, have not been met: or (2) to which, in my opinion. atlention should be drawn in order to enable a proper underslanding of the accounts lo be reached. Toluiope Fasanya, AFA MIPA Institute of Financial Accountants Anchor Business Solutions Limited I ' Floor Unit 24 Aeorn House 351-397 Midsummer Boulevard MK9 3HP United Kingdom 31 December 2025 Page 6
THE REALrrY OF GRACE MIYISTIUES IKfERNATIOTAL LIMrrED STATEIIIEryT OF FTh.4)CI.4L ACTtvrrTES FOR THE YE.4R ENDED 3111.4RCH 2025 31.03.25 Unre5trleted fund 31.03.24 Total fund Notes INCOlE AND ENDOIY.MENTS FROM Donations and le&Facies Investment income 240,960 3,115 259.049 2.505 244,075 261.554 EXPENDITURE of Charitable aetivities Charitable <iLtivities 253,893 224,584 Total 253,893 224,584 NET INCOME {9,8J8) 36,969 RECONCILIATIO OF FUNDS Total funds brought forsvard 33S.984 299,015 TOTAL FUNDS CARRIED FORWARD 326,166 335.9¥4 The statemeni of fmancial activities includes all galns and losses recognised in the year. Ail income and expenditure derive from coniinuing activiiies. The ThoiLs form part of thesc financial staiements Page 7
THE REALrrY OF GRACE MIYISTIUES ITERNATIo1AL LIMITED BAI..4NCF. SHF.F.T FOR THF. YF..4R F.NDF.D 31 MARCH 2025 31.03.25 Ullre5trieted fund 31.03.24 Total fL]nds Notes FIXED ASSETS Tangible assets 5,999 11,998 CURRENT ASSETS Debtor Cash at bank 34,556 288.111 42,259 284,228 322,667 326,487 CREDITORS Amount falling du¢ within on¢ y¢ar 10 {2,500) 12,500) NET CURRENT ASSETS 320,167 323.987 TOTAL ASSETS LESS CURRENT LIABILI'I-ILS 326,166 326,166 335.984 335,984 NET ASSETS Unr¢8trict¢d funds 326,166 335,984 TOTAL FUNDS 326,166 335.934 The charitable company i5 entitled to eXtption from audit UDder SectioD 477 of the coanieS Act 2(M16 for the y&ir ended 31 MarLh 2025. The members have not required the company to obtain an audit of its financial slaiements for the year ended 31 March 2025 in accordance with Section 476 of the CornpanI Act 2006 how'ever. in accordance with Section 145 of the Charities Act 2Ql l. the accounts havc bccn exarnincd by an independcnt cxamincr and their rcport has included in thcsc fI[ncial statements. The directors (who are charitable comDanv's InleeS for the DurDoses of chariry lawl acknowled2e their resDonsibilities'. - enguring thai the charitable company kttps accounting re¢ords which comply with Section 386 and 387 of the Companies Act 2006 and prcparing financial statcmcnts which givc a truc and fair vicw of thc stat¢ of affairs of th¢ Charitablc Company as at th¢ end of financial year and its net illCOD]e 01 expenth.tute foi each fllJaDcial year accordance with the requitemellts of Sectiun 394 and 395 and which othetWi5e comply Th'ith requirelnents of the Cowanie5 Act 2006 relatinbF to financial statements. 50 far as applicable to the charitable company. Th¢ financial stat¢rn¢nis w¢r¢ approvcd by th¢ Board of Dircctors and w¢r¢ sign¢d on its behalf by.. Andrew Okllngbojva 04 December 2025 Company number: 05471608 Charity number: 1131256 Pge 8
THE REALITY OF GIL4CE MIYISTRIES I]YTERP4A TIOP*AL LIMITED C.4SH FLOM. ST.ITE)IEYr FOR THE YEAR ENDED 31 IIARCH 2025 31.03.25 31.03.24 No Cash flows from operating actiTrities Cash generated from operations 3,883 37.596 Nct cash providcd by opcrdting activities 3,883 Net cash U£d in investing 3,883 37,596 Change in ¢#sh and easb equi)'alent in the reporting period Cash and easb equivalellt at the beginning of the reporting period 3,883 37,596 284,228 246,631 Cash and cash equivalent at the end of the reporting period 288,111 284.228 The notes fom part of these financial sthiements Page 9
THE REALrrY OF GRACE MINISTIUES IKfERNATIOTAL LIMrrED NOTES TO THE C.4SH FLOW ST.4TEMEN FOR THE YE.4R ENDED 31 .11.4RCH 21125 RECONCILIATiof OF NET II%COME TO NET CASH FLOII, FROM OPERATITriG ACTIVITIES 31.03.25 31.03.24 Net ineome for the reporting period (as per tbt Slaltmtnt of Finanei#l Aetii ities) Adjustment for: Depieciation chai¥es Ilnciease}Idecrease in debtors IDecrease}linciea5e in creditors Net cash proTrided by oper2tions (9,818) 36.969 5,999 7,702 5.999 15.3721 3,883 37,596 A.NALYSIS OF CIL4NGE IN NET FU.YDS Ai 1.4.24 Cash flow At30.3.25 iyet cash Cash at bank 284,228 3,883 288,111 284,228 3,883 288,111 Total 284,228 3,883 288,111 Thc notcs form part of th¢sc financial staicmcnts Page 10
THE REALrrY OF GRACE MIYISTIUES IKfERNATIOT*AL LIMrrED NOTES TO THE F[V)c1.L ST.4TEMEYrs FOR THE YE.4R ENDED 31 .11.4RCH 2025 ACCOUNTING POLICIES Basis of preparing tbe financAal slatements The financial slalen]enls ofthe chatitable company. m.hich is a public benefil enlity ullder FRS 102, have been prepared in accordance with the Charitie5 SOiiP IFRS 10?) 'Accounting and Reporting by Charities.. SialeTnet]t of Recomtnended Piactice applicable to charitie5 preparinLF their accounts in accordance with the Financial Reportincy Standard applicable ][] the UK and Republic of Iieland IFRS 102} (effective l January 2019}'. Financidl Reporting Standard 102 'The FinaT]cial ReportinLF Standard applicable in the UK and RepLiblic of Ireland. and the CoTnpanie5 Act 2006. The tinancial 5taternents have been prepared under the historical cost convention Golng concern The trust¢¢s (who ar¢ th¢ ¢haritabl¢ Compan5 directors for the pury)os¢s of company lawl hav¢ ass¢ss¢d .hethei the use of the going concetn ba5iS is appropriate and hae considered possible events or conditions that might cast significant doubt on the ability of the charirv to continue as a going concern. The trustees have tnade tlll"s a55esS[ellt for a period ofat least one y&ir frotn tbe date of approval of the funCIal statements. ID particular the trustees have cousidered the chariws forecasts and projection5 and the possible implications Should projected incon]e and l or expenditute vary unexpectedly. The trustees haTrE concluded that there is a reasonable expectation that the charity has adequate resources to continue to opeiale foi the foieseeable future. The charity theiefore continues to adopt the going concern basis in preparing it5 financial statetnent5. Ille0e All incotne is recogn15ed in the Statetnent of Financial Activities once the charity has entitlement to the fids, it is probable that the incotne will be received and the amount can be measured reliably. Expenditure Liabilities ate recogDised as expellditure as Sll as there 15 a legal or coll5tructLI'e obligation committing the charity to that expenditure. it 15 probable that a tran5fei of econoTnic benefits will be required in settlement and the atnount of the obligation can be tn&isuted reliably. Expenditure is accout]ted for on at] accruals basis and has been classified under headin¥s that aggreLFate all cost related to the category. Where costs cannot be directly attributed to particular heading5 thry have been allocated to activities on a basis consistent with the use of resource5. TaDgible fixed a55et5 Depreciation is prolded over a three yeaT5 petiod which 15 deemed the useful economic life to wTite-off each asset on a straight-line basis. Office equipment FuTniture & fitting5 Computer PA Svsiern Video Equipment Motor Vehicle Straight-line StraiLFht-line StraiLFht-line StraiLFht-line StraiLFht-line Straight-line T#x#tlo The charity is exernpt frotll COTporation tax on its chatitable activities. Fulld aeeollnting Unrestricted funds cau be used ID accordance with the charitable objeCtiES at tbe discretion of the trustees. Restricted funds can only be used for particular restricted pury)05es within the objects of the charity. Restrictions arise when specified by the donor or hen thnds are raised for particular restricted pulposes. Furthei eXpla[tiOn of the nature and purpose of edch fi]nd is included in the notes to the financial statements. Hire purebase and Itasittg commithients Renta15 paid under operating leases ale charged io the Sthiemenl ofFinancial Activities on a straight line basis over the perithl of the lease Coiitinued.. Pagell
THE REALrrY OF GRACE MIYISTIUES IKfERNATIOTAL LIMrrED rOTES TO TItE FTh.4jCI.4L ST.4TEMEYrs FOR THE YE.4R ENDED 3111.4RCH 2025 DONATIONS Af*D LEGACIES 31.03.25 31.03.24 Donatious Gift aid Other incorne 195,205 34,556 11,198 240,960 213,579 42.259 3.211 2.59,049 IPIVESTMENT INCOIIE 31.03.25 31.03.24 Bank account int¢r¢st 3,] 15 2,505 CHARITABLE ACTIVITIES COSTS Dirert costs spport 31.03.2S Total 31.03.24 Total Charitsble actjl'ilies 178.589 253,893 224,584 SUPPORT COSTS Management GDiernance cost 31.0.1.25 Total 31.03.24 Total Other resources eipended Charitsble actililies Bank charLFes Independent examiner :. Audiior fee 175.485 175,485 604 2,500 178.589 161,869 285 2,500 l (A,654 2.500 2,500 176,1189 NET INCOME (EXPENDITURE Nei income (expendiiurel is after charwglcrediiing 31.03.25 31.03.24 Independent examinerfs IAuditofs remuneration Depreciation- 0ed assets 2,500 2,500 5,999 STAFF COSTS 31.03.25 31.03.24 Salaries and wag¢s Tax and ttional insuranc¢ pcnsions 117,694 12,476 3.824 133,994 116,694 7,338 3,794 1?7.826 The average number of employees during ihe year was as follows". 31.03.25 31.03.24 Ministry Athninistration Thcre was no cmployee that rcceivcd rcmllneration excccding £60,000 during the period. Continucd... Page 12
THE REALrrY OF GRACE MIYISTIUES IKfERNATIOTAL LIMrrED rOTES TO TItE FTh.4jCI.4L ST.4TEMEYrs FOR THE YE.4R ENDED 31 .11.4RCH 2025 COMPAIL4TIVES FOR THE STATEMEYf OF Fif4ANCIAL ACTIVITIES Unrestricted fuDd 31.03.25 urtricted fid 31.03.24 tNCOiWF. AND F.NDOWMF.NT FROM Danatio% and Icqacie Ini'e5tment incolne (Bank interests received) 240,960 3,115 244,075 259.049 2.505 261,554 EXPENDITURE ON Cbaritable actiiities Charitable acliiitie5 75,304 59,930 Suppon costs 178.589 164.654 Total 2S3.893 224,584 NET IYCOME (9,818) 36,969 RECONCILIATION OF FLNDS lotal funds brought fons'ard TOTAL FUNDS CARRIED FORIVARD 335.984 326,166 299.015 335.984 T APIGIBLF. FIXF.D ASSETS Office Equipment Motor Vehicle Tolxls COST At l April 2024 Addition At 31 March 2025 12,576 36,710 49286 12.576 36.710 49.286 DEPRECIATtON At IApril 2024 Charge for the year At 31 March 20?5 12.576 24.712.50 5.999 30.711 37,289 S.999 43,287 12.576 NET BOOK I"ALUE At 31 March 2025 At 31 March 2024 5,999 11.998 11,998 DEBTORS DEBTORS: AMOUKt FALLING DUE WITIIIN ONE YEAR 31.03.25 31.03.24 Accru¢d incom¢ Ioift aid) 34,556 34.556 42,259 42,259 Contlljued... P*ge 13
THE REALrrY OF GRACE MIYISTIUES IKfERNATIOTAL LIMrrED rOTES TO TItE FTh.4jCI.4L ST.4TEMEYrs FOR THE YE.4R ENDED 31 .11.4RCH 2025 io. CREDITORS: Amou[ FALLifiG DUE W"ITHIN OIE YEAR 31.03.25 31.03.24 Accrued independent examination fee 2,500 2,500 2,500 2.500 MOVF.MF.NT IN FUNDS INet 31.03.24 moi'eTnent in funds At 31.03.25 Unreslricled funds General fund TOTAL FUYDS 335.9&1 335.984 (9.818) 19,818) 326,166 326,166 Comparative net moyernent in funds. included 11] the above are as follows= Resourtes expended Movement in fund re5tsurees Unrestrleted funds General fund IO"IAL Tr U.NDS 244.075 244,075 1253,893) (253,893) (9,818) (9,818) CONTROI.I.ING F.NTITV There is no oierdll conirolling entity. 13. RELATED PARTIES DISCLOSURE There was no transaction with the trustees during the period ended. Page 14
THE REALITY OF GRACE MINISTrIES INTERNATIONAL LIMITED DETAILED STATEMENT OF FINANCIAI ACTIVlnES FOR THE YEAR ENDED 31 MARCH 2025 31.03.25 31.03.24 INCOMEAND ENDOWMENTS Building Funds Donations and Legacies Offerings Tithes Gift Aid Sundry Income 7.797 26.962 66.846 93.6(Kl 34.556 11.198 240.960 38,676 23,636 52,269 98,999 42,259 3,211 259,049 Investment income Bank interest receivable 3.115 2,505 Total incoming resources 244.075 261,554 EXPENDITURE Charitable Expenditure Counselling Evangelism & Conferences Building Maintenance and Establishment Expenses Foodbank and Community Project Services and Meetings Education and Training Rent 900 16,953 7.601 7.049 9.421 156 17,850 19.352 7.698 11.508 2.896 10.275 21.931 75.304 59,930 Management & Administration expenses Staff Costs Staff Salaries NICS and Employer Nl Pensions 117.694 12.476 3.824 116,694 7.338 3,794 133.994 127.826 OtherAdministrative Costs Insurances Office/General Administrative Expenses Penalties Professional Fees Rent Subscriptions Sundry Espenses 6.172 1.306 3.621 391 18 4.479 24,900 634 3.602 29.21)0 1.055 76 41.491 34,043 Finance Bank charges 285 Governance Independent Examination Fee 2.5(10 2,500 Total resources expended 253.893 224.584 Net incomelexpenditure 190181 36.969 Page 15