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← Amazing Grace Worship Centre

2025-03-31-accounts

Registered number: 07406467 Charity number: 1138718

AMAZING GRACE WORSHIP CENTRE

(A Company Limited by Guarantee)

UNAUDITED

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

AMAZING GRACE WORSHIP CENTRE

(A Company Limited by Guarantee)

CONTENTS

Page
Reference and Administrative Details of the Charity, its Trustees and Advisers 1
Chairman's Statement 2
Trustees' Report 3 - 11
Independent Examiner's Report 12
Statement of Financial Activities 13
Balance Sheet 14 - 15
Notes to the Financial Statements 16 - 26

AMAZING GRACE WORSHIP CENTRE (A Company Limited by Guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2025

Trustees

Company registered number

07406467

Charity registered number

1138718

Registered office

171 Rushmore Road Clapton Hackney London E5 0HA

Company secretary

Mr John Williams

Independent Examiner and Accountants

Martin Bailey, FCA Goodman Jones LLP Chartered Accountants 1st Floor Arthur Stanley House 40-50 Tottenham Street London W1T 4RN

Bankers

National Westminster Bank 20 Amhurst Road London E8 1QZ

Page 1

AMAZING GRACE WORSHIP CENTRE (A Company Limited by Guarantee)

SENIOR PASTOR'S REPORT FOR THE YEAR ENDED 31 MARCH 2025

The senior pastor presents his statement for the year.

Purpose/Vision

We are still an active member of AOG Great Britain. As a local church, our aim is to promote the worship of God as revealed in three persons—Father, Son, and Holy Spirit—according to the New Testament principles of the Bible.

Focus

Our primary scriptural strategic focus is on prayer. It is absolutely essential at every level of our ministry. We constantly pray for peace in our country and all those in authority, both locally and nationally, to make the right decisions which affect the lives of the people. Our Saturday prayer meeting continued to attract even nonregistered members of our church in the year under review.

Social concerns

There are a lot of social concerns in Hackney. We believe in a practical community that addresses such needs through counselling and visiting the sick and the elderly. The Men’s Ministry and the Women’s Ministry had a role to play in addressing some of these social concerns which came under their respective influence.

Here We Grow

This is the Sunday School department of the church, and it continued to be active in helping the spiritual development of the attendees.

Challenges

We continued to have our Zoom meetings on Wednesdays from 6.30 pm to 8 pm. We have also been able to partly refurbish the first floor of our building. The organisational structure of the church has also been reorganised, thus making room for new departments, which will enable us to serve the needs of the church more effectively.

Leadership

The current leadership was very united and committed to working together as responsible stewards to meet the challenges. I, as the Pastor, was able to attend the Zone, Area, and Annual Conferences of Assemblies of God during the year.

Rev. Emmanuel Dampare Pastor

Page 2

AMAZING GRACE WORSHIP CENTRE (A Company Limited by Guarantee)

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2025

The Trustees present their Annual Report together with the financial statements of the Charity for the year 1 April 2024 to 31 March 2025. The Annual Report serves the purposes of both a Trustees' Report and a Directors' Report under company law. The Trustees confirm that the Annual Report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).

Since the Charity qualifies as small under section 382 of the Companies Act 2006, the Strategic Report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.

Objectives and activities

a. Policies and objectives

The objectives of the Charity are:

In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.

b. Main activities undertaken to further the Charity's purposes for the public benefit

Page 3

AMAZING GRACE WORSHIP CENTRE (A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Objectives and activities (continued)

c. Activities undertaken to achieve objectives

Regular weekly meetings are held every Wednesday evening, Saturday, and Sunday morning.

Saturday morning is the main prayer meeting during which a wide range of individual needs are prayed for, confidentially as required, with counselling provided straight after or at other more convenient times. Needs include health, unemployment, financial problems, family/relationship issues, court/immigration matters, spiritual, emotional and behavioural issues. These prayer meetings are open to members and non-members alike, plus Christians and non-Christians. It is well attended and highly valued.

Sunday morning is the main bible teaching and preaching time accompanied with prayer, singing, praise and worship. The bible teaching uses material personally prepared by the Pastor on a quarterly basis entitled ‘Here We Grow’. The singing, praise and worship time is one of huge inspiration aided by the skilful team of resident singers and musicians (drummers, pianists, guitarist, PA technicians). Our members and visitors grow their bible knowledge and confidence in their Christian faith. Guest preachers are occasionally invited to preach the sermon.

Wednesday evening prayer is a further opportunity to support and intercede for other peoples needs and challenges.

The young people gather straight after each Sunday service for informal fellowship, encouragement and often focus on the musical instruments they have been playing during the services.

The musicians meet regularly to practice to ensure the highest quality support of praise and worship every Sunday morning. They will also actively maintain their instruments and the related PA system.

Monthly meetings are held on the second Wednesday of each month for the men’s and women’s departments to come together for bible sharing fellowship and encouragement, and to plan their programme of activities for the forthcoming months.

All night-prayer meetings are held regularly, usually on the last Friday of the designated month. This enables members/visitors to sacrificially spend extended periods of time supporting other people’s needs through prayer. Periodic days of prayer and fasting are held throughout the year to help sharpen the church’s focus on prayer and commitment to service.

Evangelism leafleting in the local Dalston area has been undertaken several times throughout the year.

Regular Church Council Meetings (deacons/trustees/directors) are held throughout the year typically once or twice a month or more frequently as required, to discuss and make decisions on governance, finance, projects and departmental matters.

Hall letting was a large and significant feature of the activities this year. Given the large size of our hall the hire costs were very competitive. Consequently, scores of enquires were received with several dozen converting into actual confirmed hall bookings. The hall hire purposes were varied, as were the hirers' ethnicities.

The church has a number of professionals who can sign passports, provide job references, assist with completing forms, and provide free music coaching.

Achievement and performance

Page 4

AMAZING GRACE WORSHIP CENTRE (A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Achievement and performance (continued)

a. Review of activities

DEPARTMENTS LEADER’S REPORT - Stephen Addai-Nimoh

Annual Report of AGWC (Departments) 2025

Reporting on the supporting ministries of Amazing Grace Worship Centre. The various ministries support the church to carry out the vision of the resident pastor.

The Men’s Ministry

This ministry is made up of the men in the church. The ministry witnessed a little numerical growth this year. The men are few as compared with the other ministries, yet we are active and instrumental in the affairs and the progress of the church. The men deputised in the absence of the pastor. The men manage the church premises ensuring that the building was in good condition to facilitate church meetings and services. The Men’s Day was duly observed with remarkable success. There was leafleting of gospel tracts in our community. Some of the men fully participated in the programme.

The Women Ministry

The Women ministry is bigger in size than the other ministries. They meet monthly after church service. They celebrated the Mother’s Day with success. The women encouraged one another using Psalm 133 to strengthen and promote the spirit of unity in the ministry. There was singing and dancing to beautify their anniversary. The worship and the preaching on that day was done by them. They also had the time to study and discuss the Bible in all their meetings. The women supported one of them to celebrate her 50th birthday.

The Sunday School Ministry (‘Here We Grow’)

This ministry comprises both men and women in the church. The attendance of the people was better than last year. There was much enthusiasm and signs of personal spiritual growth also identified in the life of the people. It is here practical Christianity is discussed. The materials used for the meetings were based on Christian principles and values. People had the opportunity to share their experiences and testimonies.

Outlook

There is hope to improve in all the ministries. Spiritual, numerical and financial growth is our expectation for the future.

Page 5

AMAZING GRACE WORSHIP CENTRE (A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Achievement and performance (continued)

SECRETARY'S REPORT - John Williams

Leadership

Amazing Grace Worship Centre comes under the umbrella of Assemblies of God churches in Great Britain (AoG GB).

Amazing Grace Worship Centre maintained productive relationships with our fellow denominational church leaders regionally and nationally, facilitated by the pastor and secretary attending periodic AoG regional conferences. A ‘Stronger Together’ theme for co-operation and collaboration, instituted from AOG GB senior, zone, area, and hub leadership.

Pastor attended the AoG General Conference, plus Area, Zone and Hub Meetings as they arose.

The Church Council and other leaders in the church met regularly throughout the year to re-state the church vision and plan towards events and growth throughout the year, and navigate the ongoing challenges arising.

We became the Amazing Grace Worship Centre as of 1 January 2011. The Clapton Christian Centre was dissolved on the 31 January 2011.

In 2025 the church was 54 years old (under AoG) on 3 April 2025.

In May 2024 we left our Dalston location after 13 years next. With less than 3 years remaining on our lease which was due to end in January 2027, and moved back to our former Rushmore Road building in June 2024.

Pastor Emmanuel was 33 years as pastor of this church in September 2024 after joining the church following graduation from the AoG Mattersey Bible College in July 1991.

Several overall departmental meetings were held over the year including Church General meetings to report on and share the general progress the church has been making.

Guest Speakers

Guest speakers at our church this year were predominantly all in-house from our pastor, deacons and leaders.

Evangelism

Evangelism has remained on a personal level throughout the year, seeing occasional new faces.

Sister Pat leads the evangelism effort. She goes out most Saturdays often accompanied by with a small team (typically Sis Zan and Sis Salome) distributing leaflets and holding up a placard designed and made by her and Brother Clifford, engaging the public in discussions.

Several church members attended and supported the ‘God Loves You Tour’ held in Excel London on Sat 26 Aug 2023, led by Evangelist Franklin Graham, son of the late Evangelist Billy Graham.

Prayer

Prayer and Fasting sessions took place throughout the year, including:-

Mon 4 – Wed 6 Mar 2024 (re 449 Notice To Quit)

Page 6

AMAZING GRACE WORSHIP CENTRE (A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Achievement and performance (continued)

Thu 12 – Sat 14 Dec 2024

We meet every Saturday morning in person to pray, and we meet every Wednesday evening via Zoom to pray.

24 Hour Prayer Chain on the last Friday of every month. Started end Oct 2019 and continued through 2020, 2021, 2022, 2023, 2024 and into 2025, with 1-hour slots for members to elect to pray throughout.

Dedication/Baptism

There were no dedications or baptisms this year.

Men’s Ministry

Sun 15 June – Men’s Ministry and Father’s Day Programme. The men lead the service ministering with a new inspiring format involving a Q&A session about fatherhood.

The men have supported the running of the church in many ways, ie, prayer, music, PA system, preaching, administration, finance and building facilities management, and lettings support.

Women’s Ministry

The women are very active meeting regularly and working well together to support and promote various church activities.

Including prayer, visitation, worship leading, hospitality and cleaning.

The Women planned and organised a lovely 50th Birthday Celebration Event for one of their members.

The women did a great job in delivering their Women’s Ministry Day programme on Sun 6 Oct and the Mothers' Day Programme on Sun 30 Mar.

The Women led the organisation and delivery of the traditional Church Christmas Banquet on Sun 22 Dec just before Christmas.

Young Adults/Youth

Our young adults remain committed in continued service to the church, which balancing their vocational roles and lives.

We have registered with Fusion, the university student Christian networking and support group for students studying at London universities/colleges close to our church. We are currently dormant on this platform but hope to activate this in the year to come.

Sunday School

The ‘Here We Grow’ bible study booklets for our Sunday School are personally compiled by our Pastor Emmanuel Dampare. Themes covered the nature of God, Christ, The Bible, Persecution, Praise, and Importance of Home Groups. The content has proved to be extremely helpful, timely, and valued by all the members who have been participating.

People/Church

Page 7

AMAZING GRACE WORSHIP CENTRE (A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Achievement and performance (continued)

The following longest serving members are:

52 Years – Mr John Williams (Secretary/Treasurer/Elder/Trustee/Director)

47 Years – Mr & Mrs Roudette

42 Years – Mr John Jenking (Elder/Trustee/Director)

Church Christmas Service was held on Sun 17 Dec on conclusion of the Prayer and Fasting.

Bereavements: we saw several of our brothers and sisters lose parents and siblings this year, so we have supported them all in prayer and financially/practically.

Fellowship/Community

In May 2024 several church members attended, a Christian family friendly event, called Big Church Festival, which was 2 days over the late Bank Holiday weekend where over 30,000 Christians and visitors attended, many camping or glamping, to enjoy live stage music from some of the world’s best Christian music and worship bands, poetry, spoken word, children’s, activities, exhibitions, food stalls, set in 6,000 acres of Sussex fields. On completion of this break, early bird tickets were booked for the following year’s event scheduled for the Bank Holiday weekend in August 2025.

No Church Summer BBQ was held in the summer of this year given all the upheavals and activity associated with moving the church from the 449 building to the 171 building.

Lettings

We had several though reduced numbers of lettings enquiries in the last year (all in 449 none in 171). We use various channels to market the hall including our external noticeboard, Venue Scanner, HireSpace, HallsHire.com, our website, and by word of mouth.

St Gabriel's Ethiopians Church – continue with regular letting of the ground floor, plus occasional additional hires of the first floor up until they had to vacate the Dalston premises at the end of May 2024, along with ourselves.

We had many churches enquiring about hiring space from us for weekly church services, and met with several of them, plus others including, trade/charity/event organisers.

Finance

Income is balancing/exceeding expenditure most months except for the rent payment month each quarter.

Our Gift Aid scheme was re-designated to AGWC with HMRC.

Givers are periodically reminded of Gift Aid. This has been critically important – critically important to the church.

We do thank God for his marvellous provision through the wonderful giving of his people, including the giving /support from Walthamstownians, the Saturday Prayer Group, and the very generous and sustained sacrificial giving of our own members.

We do not rely on grants or sponsors nor government funding.

We have also deployed a channel of financial giving via a mobile app called GIVT. Secure, easy, quick,

Page 8

AMAZING GRACE WORSHIP CENTRE (A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Achievement and performance (continued)

anonymous, and gift aid able.

We also have a chip and pin machine, for tithes/offering via card payments, contactless for payments up to £100. Pay by text, standing order, etc available.

Drop-In Centre

This 219 Glyn Road facility has been taken back from RCCG and is now back under our control to be used as we see fit. Ideas for community-focused work around the arts are being explored and researched.

Residential Flat

The property, 219a Glyn Road, is tenanted, with good occupants.

Administration/Building

We have maintained good relationships with our professional services providers, accountants, solicitors, letting agent, insurance company, and mortgage providers.

Various minor building maintenance/repair works continue to be carried out to ensure the buildings (both 449 and 171) remained safe, secure, weather-tight, and water-tight. We undertook a d small refurbishment project to upgrade 171 first floor office, kitchen, and hall flooring. The 219 building continued its use as a community arts centre.

Notice To Quit 449 Lease

Following granting of the revised planning application, on Wednesday 27th February 2024, we were issued with a Notice To Quit our 449 Kingsland Road, E8 4AU lease by end May 2024. On Sun 3rd Mar 2024, we consequently advised the St Gabriels Ethiopian Orthodox Tewahedo Church (EOTC) hire our ground floor hall that they likewise had to cease use of the building by the end of May 2024. We in turn, also on Sun 3rd Mar 2024, advised The Redeemed Christian Church of God (RCCG) of their Notice To Quit their 171 Rushmore Road E5 0HA lease by the end of May 2024. AGWC’s plan was to move our church services and operations back into 171 Rushmore Road, E5 0HA.

A large amount of church leadership/management time, effort, planning, notifications, activity, costs, etc, was initiated in February/March and invested in to achieve the end of May 2024 target exit date.

Financial review

a. Going concern

After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.

Page 9

AMAZING GRACE WORSHIP CENTRE (A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

b. Reserves policy

It is the policy of the Charity that funds should be maintained at a level equivalent to between three and six months' recurring expenditure. The Trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the Charity's current activities while consideration is given to ways in which additional funds may be raised.

At the balance sheet date, the Charity held general reserves totalling £1,249,043 (2024: £1,137,428), of which free reserves are in a deficit at £110,957 (2024: deficit £223,058). The Charity holds fixed assets and investments totalling £1,360,000 (2024: £1,360,486). The improved position is due to a significant proportion of the rent arrears being waived by the landlord in return for us being asked to vacate the premises. The Trustees continue to examine all opportunities to generate unrestricted funds.

c. Review of the year

We are very grateful for the generous support of members of the Church.

The Trustees have reviewed the current accounting systems and processes of the Charity as part of a review of operations and individuals' duties. Professional advice has been sought regarding improvements to the Charity's accounting function, and in respect of the preparation of the annual financial statements.

d. Principal risks and uncertainties

Amazing Grace Worship Centre leadership meet regularly to ensure any financial risks are exposed quantified and plans put in place to mitigate them. We carefully monitor income and expenditure to ensure we are operating within our means. We take steps to maximise income through promotion and operation of Gift Aid on a monthly basis. We have periodic reviews of rent we charge the tenants of our properties in Dalston and Clapton to ensure we are getting the best deal. We limit expenditure to necessary items. We prioritise financial obligations to HMRC and other legal/statutory bodies and health and safety before addressing other demands.

Structure, governance and management

a. Constitution

Amazing Grace Worship Centre is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association dated 4th October 2010 and is a registered charity number 1138718 and under company number 07406467.

b. Methods of appointment or election of Trustees

The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Memorandum of Association.

Page 10

AMAZING GRACE WORSHIP CENTRE (A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Structure, governance and management (continued)

c. Organisational structure and decision-making policies

The church is in fellowship with the Assemblies of God in Great Britain and holds membership with both the Evangelical Alliance and Churches Together ln England.

The Pastor attends an annual Assemblies of God conference plus several other regional meeting pertaining to the management and direction of the fellowship and consequently the local church. Through involvement in other local inter-denominational initiatives, the church is able to steer direction for the overall Christian voice in the locality.

The Church has the Pastor plus caretakers of hired events that are paid employees. All other staff are very hardworking, committed volunteers.

Statement of Trustees' responsibilities

The Trustees (who are also the directors of the Charity for the purposes of company law) are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial . Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by order of the members of the board of Trustees and signed on their behalf by:

................................................ thotnLy Wi rans Mr John Williams

Trustee

29-01-26 Date:

Page 11

AMAZING GRACE WORSHIP CENTRE (A Company Limited by Guarantee)

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2025

Independent Examiner's Report to the Trustees of Amazing Grace Worship Centre ('the Charity')

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

Responsibilities and Basis of Report

As the Trustees of the Charity (and 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 Charity 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 the Charity's accounts 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

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 Charity 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.

This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.

Signed:

Dated: 30-01-26

Martin Bailey, FCA Goodman Jones LLP 1st Floor Arthur Stanley House 40-50 Tottenham Street London W1T 4RN

Page 12

AMAZING GRACE WORSHIP CENTRE

(A Company Limited by Guarantee)

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2025

Note
Income from:
Donations and legacies
4
Investments
5
Total income
Expenditure on:
Raising funds
Charitable activities
6
Total expenditure
Net income/(expenditure) before net gains on
investments
Net gains on investments
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Unrestricted
funds
2025
£
100,948
31,021
131,969
4,936
15,418
20,354
111,615
-
111,615
1,137,428
111,615
1,249,043		 Total
funds
2025
£
100,948
31,021
131,969
4,936
15,418
20,354
111,615
-
111,615
1,137,428
111,615
1,249,043		 Total
funds
2024
£
129,551
75,364
204,915
4,859
213,945
218,804
(13,889)
610,000
596,111
541,317
596,111
1,137,428

The Statement of Financial Activities includes all gains and losses recognised in the year.

The notes on pages 16 to 26 form part of these financial statements.

Page 13

AMAZING GRACE WORSHIP CENTRE (A Company Limited by Guarantee) REGISTERED NUMBER: 07406467

BALANCE SHEET AS AT 31 MARCH 2025

Note
Fixed assets
Tangible assets
10
Investment property
11
Current assets
Debtors
12
Cash at bank and in hand
Current liabilities
Creditors: amounts falling due within one
year
13
Net current liabilities
Total assets less current liabilities
Creditors: amounts falling due after more
than one year
14
Net assets excluding pension asset
Total net assets
Charity funds
Restricted funds
15
Unrestricted funds
15
Total funds		 47,384
10,123
57,507
(87,207)		 2025
£
-
1,360,000
1,360,000
(29,700)
1,330,300
(81,257)
1,249,043
1,249,043
-
1,249,043
1,249,043		 91,264
5,131
96,395
(227,623)		 2024
£
486
1,360,000
1,360,486
(131,228)
1,229,258
(91,830)
1,137,428
1,137,428
-
1,137,428
1,137,428

The Charity was entitled to exemption from audit under section 477 of the Companies Act 2006.

The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.

Page 14

AMAZING GRACE WORSHIP CENTRE

(A Company Limited by Guarantee)

BALANCE SHEET (CONTINUED) AS AT 31 MARCH 2025

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

................................................ thotnLy Wi rans

Mr John Williams Trustee

Date: 29-01-26

The notes on pages 16 to 26 form part of these financial statements.

Page 15

AMAZING GRACE WORSHIP CENTRE (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

1. General information

Amazing Grace Worship Centre is a charitable company registered in England and Wales. The registered office is 171 Rushmore Road, Clapton, Hackney, London, E5 0HA. The objects of the Charity are set out in the Trustees' Report.

The Charity is a company limited by guarante. In the event that the Charity is wound up, the liability in respect of the guarantee is limited to £1 per member.

2. Accounting policies

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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Amazing Grace Worship Centre meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

The financial statements have been prepared in Sterling, the functional currency of the Charity, and monetary amounts have been rounded to the nearest £.

After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. The Charity is reliant upon public donations and rental income. The Trustees do not believe that there is a material uncertainty regarding the going concern status of the Charity and continue to adopt the going concern basis in preparing the financial statements

2.3 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.

Investment income, gains and losses are allocated to the appropriate fund.

2.4 Income

All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.

Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.

Page 16

AMAZING GRACE WORSHIP CENTRE (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

2. Accounting policies (continued)

2.5 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.

2.6 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources.

Expenditure on raising funds includes all expenditure incurred by the Charity to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.

All expenditure is inclusive of irrecoverable VAT.

2.7 Tangible fixed assets and depreciation

Tangible fixed assets are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, .

Depreciation is provided on the following basis:

Page 17

AMAZING GRACE WORSHIP CENTRE (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

2. Accounting policies (continued)

2.8 Investments and investment properties

Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance Sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Statement of Financial Activities. Investments held as fixed assets are shown at cost less provision for impairment.

Investment properties are held at open market value on an existing use basis. Investment properties are subject to regular third party valuations by qualified chartered surveyors, supported by annual reviews by the Trustees.

2.9 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

2.10 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.

2.12 Financial instruments

The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

2.13 Pensions

The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year.

Page 18

AMAZING GRACE WORSHIP CENTRE

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

3. Critical accounting estimates and areas of judgement

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Critical accounting estimates and assumptions:

The Charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year relate to assessing the market valuation of the investment properties.

4. Income from donations and legacies

Unrestricted
funds
2025
£
Donations
100,948
Total 2024
129,551		 Total
funds
2025
£
100,948
129,551		 Total
funds
2024
£
129,551

5. Investment income

Unrestricted
funds
2025
£
Rental income from investment properties
30,970
Interest income
51
31,021
Total 2024
75,364		 Total
funds
2025
£
30,970
51
31,021
75,364		 Total
funds
2024
£
75,207
157
75,364

Page 19

AMAZING GRACE WORSHIP CENTRE (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

6. Analysis of expenditure on charitable activities

Summary by fund type

Unrestricted
funds
2025
£
Religious services
15,418
Total 2024
213,945		 Total
2025
£
15,418
213,945		 Total
2024
£
213,945

7. Analysis of expenditure by activities

Charitable activities
Total 2024		 Activities
undertaken
directly
2025
£
(85,271)
141,017		 Support
costs
2025
£
100,689
72,928		 Total
funds
2025
£
15,418
213,945		 Total
funds
2024
£
213,945

Page 20

AMAZING GRACE WORSHIP CENTRE (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

7. Analysis of expenditure by activities (continued)

Analysis of support costs

Depreciation
Insurance
Gas, electric & water
Repairs & maintenance
Travel & transport
Donations
Telephone & internet
Printing, postage & stationery
Legal & professional
Independant examination
Bank charges
Interest paid
Bad debts written off
Sundry
Total 2025
Total 2024
8.
Staff costs
Wages and salaries
Social security costs
Contribution to defined contribution pension schemes		 Religious
services
2025
£
486
1,967
6,201
12,770
200
6,073
3,011
8,158
1,692
5,202
582
11,142
42,405
800
100,689
72,928		 Total
funds
2025
£
486
1,967
6,201
12,770
200
6,073
3,011
8,158
1,692
5,202
582
11,142
42,405
800
100,689
72,928
2025
£
45,588
4,406
37
50,031		 Total
funds
2024
£
552
10,005
11,672
5,140
43
5,978
1,321
8,419
1,200
4,950
577
22,100
-
971
72,928
2024
£
52,336
4,645
92
57,073

Page 21

AMAZING GRACE WORSHIP CENTRE (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

8. Staff costs (continued)

The average number of persons employed by the Charity during the year was as follows:

Pastor
Caretaker		 2025
No.
1
1
2		 2024
No.
1
1
2

No employee received remuneration amounting to more than £60,000 in either year.

Key management personnel are considered to be the Trustees. One trustee was remunerated for his role as pastor as disclosed in note 9.

9. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2024 - £NIL) for their role as a trustee. One trustee was remunerated in the current and prior years for his role as pastor. Total remuneration, including employer's NIC and pension contributions, totalled £44,396 (2024: £44,979).

During the year ended 31 March 2025, no Trustee expenses have been incurred (2024 - £NIL) .

Page 22

AMAZING GRACE WORSHIP CENTRE (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
10.
Tangible fixed assets
Cost or valuation
At 1 April 2024
At 31 March 2025
Depreciation
At 1 April 2024
Charge for the year
At 31 March 2025
Net book value
At 31 March 2025
At 31 March 2024
11.
Investment property
Valuation
At 1 April 2024
At 31 March 2025		 Fixtures and
fittings
£
13,140
13,140
12,654
486
13,140
-
486
Freehold
investment
property
£
1,360,000
1,360,000

The investment properties were valued in May 2024 by a firm of qualified chartered surveyors, on an open market value for existing use basis. The Trustees have considered the valuation of these properties and consider that there has been no material change in these valuations and so they are appropriate valuations as at the balance sheet date.

Page 23

AMAZING GRACE WORSHIP CENTRE (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

12. Debtors

Due within one year
Trade debtors
Other debtors
Prepayments and accrued income		 2025
£
27,951
-
19,433
47,384		 2024
£
54,578
17,875
18,811
91,264

13. Creditors: Amounts falling due within one year

Bank loans - refer note 14
Other loans
Other creditors
Accruals and deferred income		 2025
£
21,855
10,850
13,000
41,502
87,207		 2024
£
21,855
10,850
156,444
38,474
227,623

Other loans represent monies advanced to the Charity by members of the congregation. Included within the above figure carried forward is an amount of £4,600 (2024: £4,600) due to the wife of one of the Trustees. All of these other loans are unsecured, interest free and repayable on demand.

14. Creditors: Amounts falling due after more than one year

2025 2024
£ £
Bank loans 81,257 91,830

Bank loans comprise a bank loan subject to interest at 6.35%, secured against the Charity's investment properties, and is due for repayment in April 2037, and a bounceback loan due for repayment in June 2027.

Page 24

AMAZING GRACE WORSHIP CENTRE

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

15. Statement of funds

Statement of funds - current year

Unrestricted funds
General Funds
Statement of funds - prior year
Balance at
1 April 2023
£
Unrestricted funds
General Funds
541,317		 Balance at 1
April 2024
£
1,137,428
Income
£
204,915		 Income
£
131,969
Expenditure
£
(218,804)		 Expenditure
£
(20,354)
Gains/
(Losses)
£
610,000		 Balance at
31 March
2025
£
1,249,043
Balance at
31 March
2024
£
1,137,428
16. Analysis of net assets between funds
Analysis of net assets between funds - current year
Unrestricted
funds
2025
£
Investment property
1,360,000
Current assets
57,507
Creditors due within one year
(87,207)
Creditors due in more than one year
(81,257)
Total
1,249,043		 Total
funds
2025
£
1,360,000
57,507
(87,207)
(81,257)
1,249,043

Page 25

AMAZING GRACE WORSHIP CENTRE

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

16. Analysis of net assets between funds (continued)

Analysis of net assets between funds - prior year

Tangible fixed assets
Investment property
Current assets
Creditors due within one year
Creditors due in more than one year
Total		 Unrestricted
funds
2024
£
486
1,360,000
96,395
(227,623)
(91,830)
1,137,428		 Total
funds
2024
£
486
1,360,000
96,395
(227,623)
(91,830)
1,137,428

17. Related party transactions

During the year, the Charity received donations from trustees and related parties totalling £24,323 (2024: £34,197). No restrictions were attached to these donations.

Apart from the above and those items disclosed elsewhere in the notes to the financial statements, there were no related party transactions requiring disclosure in either the current or prior years.

18. Controlling party

The Charity is under the control of the Board of Trustees. No individual has overall control.

Page 26