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← Grace Of Jesus Christ Crusade

2023-10-31-accounts

Charity registration number 1138973

Company registration number 07424076 (England and Wales)

GRACE OF JESUS CHRIST CRUSADE

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023

GRACE OF JESUS CHRIST CRUSADE

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Ms L Law
Mr B Ng
Mrs S Shen
Mr S Wu
Charity number 1138973
Company number 07424076
Principal address Poultry Farm
Wissington
King's Lynn
Norfolk
United Kingdom
PE33 9SD
Registered office Poultry Farm
Wissington
King's Lynn
Norfolk
United Kingdom
PE33 9SD
Independent examiner Mark A Jackson FCA DChA
Azets
Westpoint
Lynch Wood
Peterborough
Cambridgeshire
United Kingdom
PE2 6FZ
Bankers HSBC
85 Lewisham High Street
Lewisham
London
United Kingdom
SE13 6BE

GRACE OF JESUS CHRIST CRUSADE

CONTENTS

Page
Trustees' report 1 - 3
Independent examiner's report 4
Statement of financial activities 5
Balance sheet 6
Notes to the financial statements 7 - 13

GRACE OF JESUS CHRIST CRUSADE

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 OCTOBER 2023

The trustees present their annual report and financial statements for the year ended 31 October 2023.

The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the morandum and Articles of Association, the Companies Act 2006 and the Statement of Recommended Practice, "Accounting and Reporting by Charities", issued in March 2005.

Aims and purposes

The Grace of Jesus Christ Crusade (GJCC) is the missionary and ministerial arm of the New Testament Church. She is the administrative coordinator for the New Testament Church (NTC) and, as such, select, train and post pastors to shepherd the various local NTC churches in the United Kingdom.

Objectives and activities

GJCC is committed to preach the complete salvation of Jesus Christ—Blood, Water and Holy Spirit— and Holy Spirit rebuilding the New Testament Church thereby uniting all children of God in the truth.

GJCC is set up with the objective to advance the Christian religion in the United Kingdom for the benefit of the public through:

  1. The establishment and support of local churches and acting as administrative coordinator for the churches and training and sending pastors to shepherd the churches

  2. Holding prayer meetings, lectures, public celebration of religious festivals, producing and/or distributing literature, audio and video in digital format on the Christian faith to enlighten others about the Christian teachings of the Gospel of the Lord Jesus Christ

  3. To advance the education of the public in the principles of the organic movement, especially of organic farming and animal husbandry so that we can eat healthy, live healthy and eat according to God. (Genesis 1:29)

  4. To promote such other charitable purposes in accordance with the laws of England and Wales as may from time to time be determined.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Achievements and performance

Promoting Christian faith in forms of digital literature, audio and video formats

In order to support members from wide geographical areas in the UK, we continue to provide messages in digital, audio and video form. These files are available to the current members of the GJCC for downloads via FTP free of charge.

Outreaching the Gospel

Based on the Lord Jesus' sacrificial principle, GJCC freely gives what has been freely received. To let the world, share the goodness of the gospel, all Grace of Jesus Christ Crusade publications, including gospel tracts, posters and books, are available free of charge. The volunteers of GJCC go out regularly (weather permitting) to distribute gospel tracts to the public.

Members of the public who are interested in joining the congregation are welcome to contact GJCC or any of its current members to discuss the Full Gospel of the Lord Jesus Christ. The public, if they like, can also request free literature and are welcome to visit and or attend our worship.

Public celebration of religious festivals

At GJCC, we are committed to spread the salvation of Jesus Christ Crusade to the members of the public by organising public religious celebrations and gospel outreach.

GRACE OF JESUS CHRIST CRUSADE

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2023

Memorable days / Religious festivals

On certain memorable days in the New Testament Church’s history, members gather to remember and to express their gratitude for God’s faithfulness and love. For “this was the Lord’s doing; it is marvelous in our eyes. This is the day the Lord has made; we will rejoice and be glad in it” (Psalms 118:23-24). Examples of these memorable days are as below: -

Prayer Meetings

Financial review

A total receipt on unrestricted funds was £30,553 (2022 - £33,191). The fund was used to invest in upgrading the infrastructure to enable Grace of Jesus Christ Crusade to host events such as seminars and conventions as well as any future events that are aligned to our charitable objective.

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level to meet the need of travelling costs to local churches, for gospel preaching and convention. 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. This level of cash reserves has been maintained throughout the year.

The charity has no long-term investment plans. Any surplus funds, which are not likely to be needed to pay for activities, are placed on deposit in the bank for interest earning.

The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

Structure, governance and management

The charity is a company limited by guarantee and a charity registered with the Charity Commission.

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Ms L Law

Mr B Ng Mrs S Shen Mr S Wu

The legal members of the charity are responsible for the appointment of trustees. None of the members have any beneficial interest in the company. All of the members of the company guarantee to contribute £10 in the event of a winding up.

The charity's trustees are responsible for the general control and management of the charity. This includes deciding on how the funds are to be spent and the activities provided by the charity. In planning our activities for the year, we kept in mind the Charity Commission's guidance on public benefit at our trustee meetings.

GRACE OF JESUS CHRIST CRUSADE

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2023

The full Grace of Jesus Christ Crusade (GJCC) trustees meet together to assist in the smooth running of the charity, the trustees have set up a number of sub-committees, each responsible for a particular aspect of the charity's work. These sub-committees namely worship, mission and outreach, management and upkeep of the building and finance, are all responsible to the GJCC. They are required to report back with their recommendations to the full meeting of GJCC trustees and discussed as necessary.

The trustees' report was approved by the Board of Trustees.

Ms L Law

Trustee Dated: 25 July 2024

GRACE OF JESUS CHRIST CRUSADE

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF GRACE OF JESUS CHRIST CRUSADE

I report to the trustees on my examination of the financial statements of Grace of Jesus Christ Crusade (the charity) for the year ended 31 October 2023.

Responsibilities and basis of report

As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).

Having satisfied myself that the financial statements 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 financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable 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 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 financial statements to be reached.

Mark A Jackson FCA DChA Azets Westpoint Lynch Wood Peterborough Cambridgeshire PE2 6FZ United Kingdom

Dated: 26 July 2024

GRACE OF JESUS CHRIST CRUSADE

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 OCTOBER 2023

Unrestricted Endowment
funds
funds
designated
2023
2023
Notes
£
£
Income from:
Donations and
legacies
3
29,892
-
Investments
4
661
-
Total income
30,553
-
Expenditure on:
Charitable activities
5
27,483
-
Net income for the year/
Net movement in funds
3,070
-
Fund balances at 1
November 2022
18,219
34,244
Fund balances at 31
October 2023
21,289
34,244		 Total
Unrestricted Endowment
funds
funds
designated
2023
2022
2022
£
£
£
29,892
33,147
-
661
44
-
30,553
33,191
-
27,483
26,867
-
3,070
6,324
-
52,463
11,895
34,244
55,533
18,219
34,244		 Total
2022
£
33,147
44
33,191
26,867
6,324
46,139
52,463

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

GRACE OF JESUS CHRIST CRUSADE

BALANCE SHEET

AS AT 31 OCTOBER 2023

2023 2022
Notes £ £ £ £
Fixed assets
Tangible assets 10 561,340 566,832
Current assets
Debtors 11 1,982 -
Cash at bank and in hand 107,831 101,071
109,813 101,071
Creditors: amounts falling due within
one year 12 (615,620) (615,440)
Net current liabilities (505,807) (514,369)
Total assets less current liabilities 55,533 52,463
Income funds
Unrestricted funds
Designated funds 13 34,244 34,244
General unrestricted funds (87,511) (90,581)
Revaluation reserve 108,800 108,800
55,533 52,463
55,533 52,463

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 October 2023.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the Trustees on 25 July 2024

Ms L Law Trustee

Company Registration No. 07424076

GRACE OF JESUS CHRIST CRUSADE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023

1 Accounting policies

Charity information

Grace of Jesus Christ Crusade is a private company limited by guarantee incorporated in England and Wales. The registered office is Poultry Farm, Wissington, King's Lynn, Norfolk, PE33 9SD, United Kingdom.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006 and “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)” (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. This is dependent on the continued support of those who have loaned money to the charity, which is not expected to be withdrawn.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

1.4 Incoming resources

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

GRACE OF JESUS CHRIST CRUSADE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2023

1 Accounting policies

(Continued)

1.5 Resources expended

All resources expended are accounted for gross, and in the period in which they are incurred. VAT is not recoverable by the charity and as such is included in the relevant costs in the Statement of Financial Activities.

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. The charity adopted the transitional rules on adoption of FRS102 and have elected to use a historic valuation as deemed cost for the property.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Land and buildings Held at valuation Plant and machinery 15% pa on cost Fixtures, fittings & equipment 10% pa on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

GRACE OF JESUS CHRIST CRUSADE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2023

1 Accounting policies

(Continued)

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Donations and legacies

**Unrestricted ** Unrestricted
funds funds
2023 2022
£ £
Donations and gifts 29,892 33,147

GRACE OF JESUS CHRIST CRUSADE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 OCTOBER 2023

4 Investments

**Unrestricted ** **Unrestricted ** Unrestricted
funds funds
2023 2022
£ £
Interest receivable 661 44
Charitable activities
Advancement of Farm supply Total Total
the Christian Previously 2023 2022
religion Gerizim
£ £ £ £
Depreciation and impairment 5,492 - 5,492 5,535
Premises costs 14,570 - 14,570 12,370
Travel for evangelism - - - 1,078
Office costs 1,104 - 1,104 1,646
Motor expenses 2,762 - 2,762 1,272
Bank charges 60 - 60 50
Ministry expenses 48 - 48 192
Farm supply - 867 867 2,324
24,036 867 24,903 24,467
Share of governance costs (see note 6) 2,580 - 2,580 2,400
26,616 867 27,483 26,867

5 Charitable activities

6 Support costs

Support
costs
Governance
costs
£
£
Independent examination
-
2,580
-
2,580
Analysed between:
Charitable activities
-
2,580		 2023
£
2,580
2,580
2,580		 2022 Basis of allocation
£
2,400 Governance
2,400
2,400

GRACE OF JESUS CHRIST CRUSADE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2023

7 Trustees

None of the trustees (or any persons connected with them) received any remuneration during the year.

8 Employees

The average monthly number of employees during the year was:

2023 2022
Number Number
Total - -

There were no employees whose annual remuneration was more than £60,000.

9 Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

10 Tangible fixed assets

Cost or valuation
At 1 November 2022
At 31 October 2023
Depreciation and impairment
At 1 November 2022
Depreciation charged in the year
At 31 October 2023
Carrying amount
At 31 October 2023
At 31 October 2022		 Land and
buildings
Plant and
machinery
Fixtures,
fittings &
equipment
£
£
£
560,000
33,923
6,726
560,000
33,923
6,726
-
29,103
4,714
-
4,820
672
-
33,923
5,386
560,000
-
1,340
560,000
4,820
2,012		 Total
£
600,649
600,649
33,817
5,492
39,309
561,340
566,832

Land and buildings with a carrying amount of £480,000 were revalued during the accounting period to 31 October 2016 by independent valuers not connected with the charity on the basis of market value.

At 31 October 2023, had the revalued assets been carried at historic cost less accumulated depreciation and accumulated impairment losses, their carrying amount would have been approximately £480,000 (2022 - £480,000).

The revaluation surplus is disclosed on the Balance Sheet.

GRACE OF JESUS CHRIST CRUSADE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2023

11
Debtors
Amounts falling due within one year:
Prepayments and accrued income
12
Creditors: amounts falling due within one year
Other creditors
Accruals and deferred income		 2023
£
1,982
2023
£
613,040
2,580
615,620		 2022
£
-
2022
£
613,040
2,400
615,440

Included in other creditors are loans made to the charity totalling £613,040. These loans are unsecured, interest free and have no fixed repayment terms.

The creditors have indicated their ongoing support for the work of the charity and will not be requiring repayment of the loans until there are sufficient funds in the charity.

13 Designated funds

The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes:

Movement in funds Movement in funds
Balance at Incoming Resources
Balance at
1 November resources expended 31 October 2023
2022
£ £ £ £
Fixed asset fund 34,244 - - 34,244
34,244 - - 34,244

The fixed asset fund represents funds that have been invested in property and the balance carried forward equates to the net book value of the property, less the value of the loan borrowed against the property, less the revaluation reserve.

GRACE OF JESUS CHRIST CRUSADE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2023

14 Analysis of net assets between funds Analysis of net assets between funds
Unrestricted Designated Total Unrestricted Designated Total
funds funds funds funds
2023 2023 2023 2022 2022 2022
£ £ £ £ £ £
Fund balances at 31
October 2023 are
represented by:
Tangible assets 1,340 560,000 561,340 6,832 560,000 566,832
Current assets/(liabilities) 19,949 (525,756) (505,807) 11,387 (525,756) (514,369)
21,289 34,244 55,533 18,219 34,244 52,463

15 Related party transactions

There were no disclosable related party transactions during the year (2022 - none).