## **HOUSE OF GLORY INTERNATIONAL MINISTRY**
## **FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31[ST] December 2023**
**CHARITY NUMBER: 1140364**
## **HOUSE OF GLORY INTERNATIONAL MINISTRY 139 LILLECHURCH ROAD DAGENHAM RM8 2BZ**
**INDEX Page Index 1 Trustee’s Report 2-3 Independent Examiner’s Report 4 Statement of Financial Activities 5 Balance Sheet 6 Notes on the financial Statements 7 - 9**
**1**
## **HOUSE OF GLORY INTERNATIONAL MINISTRY**
## **TRUSTEES’ REPORT YEAR ENDED 31[ST] DECEMBER 2023**
The trustees are pleased to present their report for the year ended 31[ST] December 2023 for the charity, House of Glory International Ministry with Charity Number 1140364.
The Trustees of the charity are: Mr Alexander Owoo Ms Bridget Adebajo Mr Patrick Owusu Sekyere Mr Richard Akogun
The principal address of the charity is: 139 Lillechurch road Dagenham RM8 2BZ
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
The Charity governing document is a trust deed that was adopted on 25[th] January2011 as amended by supplemental deed on 10[th] August 2012 .The Charity is governed by a board on which the trustees are represented. It meets regularly to review, plan activities and monitor the financial position.
## **OBJECTIVES AND ACTIVITIES**
The Objects of the organisation are to advance the Christian Faith [in accordance with the Statement of Beliefs], to relieve persons who are in condition of need or hardship or relieve distress caused thereby in the United Kingdom or abroad. The trustees confirm that they have had due regard to the guidance issued by the Charity Commission on public benefit before deciding what activities the charity should undertake.
## **ACHIEVMENTS AND PERFORMANCE**
The Organisation continues to hold successful services through the year in which individuals were equipped and educated on the principles and doctrines of the Christian faith .The church held several conferences to assist the development of the people in the community. The church also supported other charity organisations with similar objects with helping those in need. The church continues to run the workplace pension for its employee as required by the government legislation. The church also continues to hold it services in the hired premises. The church also mission outreach programs in Sweden, Norway and Ghana.
**2**
## **FINANCIAL REVIEW**
The income of the charity is above £86,000. The church used most of the amount of its income in paying church rent for church premises for its services during the year. The charity had a surplus at the end of the year and is saving up to acquire its own building in the future. The church continues to run a workplace pension to support its employee this year.
## **FUTURE DEVELOPMENTS**
The church intends to continue to host its regular yearly conferences in UK. The intended reappointment of our present independent examiner at the upcoming trustee meeting is expected to support the financial operations by making it more effective.
## **RESERVE POLICY**
It is the policy of the Charity to maintain unrestricted funds, which are the reserves of the charity at about 3 months of unrestricted expenditure .This provides sufficient funds to cover any emergency expenditures that may arise from time to time. The charity will seek to maintain this level throughout the year.
## **RISK MANAGEMENT**
The charity have assessed all the major risks to which the charity is exposed to, in particular those related to operations and finances of the charity, and are satisfied that systems are in place to mitigate exposure to major risks.
## **TRUSTEE RESPONSIBILITIES**
Under the Charities Act 2011, the trustees are required to prepare a statement of accounts for each accounting year which gives a true and fair view of the state of the church. They are required to:
1. Select suitable accounting policies and apply them consistently.
2. Make judgements and estimates that are reasonable and prudent.
3. State whether the applicable accounting standards have been followed.
4. Prepare financial statements on an ongoing basis.
They are responsible for keeping proper records which disclose with reasonable accuracy the finances of the church at any time and to ensure that such accounts comply with the Charities Act 2011.They also have a responsibility to safeguard the assets of the church and to take reasonable steps to detect fraud or other irregularities.
Approved by the Trustees on 17[th] January 2024 and signed on their behalf by:
_____________________________________________
**3**
Independent Examiner’s Report To the Trustees
## **HOUSE OF GLORY INTERNATIONAL MINISTRY**
I report on the accounts of the church for the year ended 31[ST] December 2023 set out on the following pages which have been prepared on the basis of the accounting policies shown in the corresponding pages.
## **Respective responsibilities of trustees and examiner**
The trustees of the church are responsible for the preparation of accounts: they consider that the audit requirement under section 144(2) of the Charities Act 2011 (the 2011 Act),does not apply. It is my responsibility to :
- Examine the accounts under section 145 of the 2011 Act.
- Follow the procedures laid down in the General Directions given by the Charity Commissioners made under section 145(5)(b) of the 2011 Act.
- State whether particular matters have come to my attention.
## **Basis of Independent examiner’s report**
My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the church and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts.
## **Independent examiner’s statement**
In the course of my examination, no matter has come to my attention;
- (1) which gives me reasonable cause to believe that, in any material aspect, the trustees have not met the requirements to ensure that:
- proper accounting records are kept( in accordance with section 130 of the 2011 Act
- accounts are prepared which agree with the accounting records and comply with the accounting requirements of the 2011 Act: or
- (2) to which , in my opinion , attention should be drawn in order to enable a proper understanding of the accounts to be reached.
CHUKS AJUKA BSc(Man), FICB PMDip FRESH FIRE ORGANISATION Generator Business Centre 95 Miles Road Mitcham Surrey CR4 3FH
**4**
## **HOUSE OF GLORY INTERNATIONAL MINISTRY**
## **ACCOUNTS FOR THE YEAR ENDED 31st December 2023**
## **1 Receipts & Payments Account (General Purpose Fund)**
|**Income Receipts**
Other Income
Church Donations
Gift Aid
**Total Receipts**
**Direct Charitable Expenditure**
Church events
Benevolent giving
Mission
Renewals & Repairs
Hall Hire
Wages
Charity donation
Accounting services
PAYE
Advertising & Printing
Welfare
Pension
Stationary & Books
Professional fees
Church Supplies
Admin
Music Services
Travel and Substitence
Speakers expenses
**Other Expenditure**
Equipment
Fixtures & Fittings
Hospitality
**Total Payments**
**Net Receipts/(Payments) for the year**
**Cash Funds brought forward**
**Loan out**
**Loan in**
**Cash Funds at the end of the year**|**£**
**2023**
0
59750
12612
**_________**
**72362**
13250
1650
6152
100
11232
7896
676
450
0
0
6000
1500
590
1573
1123
2664
6080
1200
6462
**68598**
300
0
375
675
**69273**
**3089**
**53589**
**-6389**
_________
**50289**
_________|**£**
**2022**
19000
57795
16055
|
|---|---|---|
|||**_________**
92850
5850
6850
23380
0
10539
7896
4850
472
0
0
4800
1500
500
1717
600
184
6431
1200
9806|
|||86575
0
0
135|
|||135
**86710**
**6140**
**51708**
**-4259**|
|||53589
_________|
**5**
## **HOUSE OF GLORY INTERNATIONAL MINISTRY**
## **2 Statements of Assets and Liabilities at 31st December 2023**
|**Cash Funds**
NatWest Bank
**Total Cash Funds**
**Assets Retained for the**
**Charity's Own use**
Fixtures & Fittings
Instruments
Equipment
Bus
Loan
**Liabilities**
Bounce back Loan
Accounting fee
**NET ASSETS**|**Unrestricted Funds**
**2023**
**£**
50289
_________
50289
_________
421
1050
512
587
0
2570
20341
384
32134|**2022**
**£**
53589
|
|---|---|---|
|||_________
53589
|
|||_________
526
1013
640
734
0|
|||2913
28500
380|
|||27622|
Approved by the Trustees and signed on their behalf:
______________________________________________________
**6**
## **HOUSE OF GLORY INTERNATIONAL MINISTRY**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 31st DECEMBER 2023**
## **ACCOUNTING POLICIES**
## **Basis of Accounting**
These accounts have been prepared on the receipts and payments basis under section Charities Act 2011.
## **Funds**
Unrestricted funds are those which can be used at the Trustees' discretion. Restricted Funds are those whose purposes have been restricted by the donor.
## **Staff**
The organisation had 1 employee during the accounting year. All the other work of the church was carried out by volunteers. No employee earned more than £10,000 in the financial year.
## **Pension**
The organisation implemented a workplace pension for employees during the financial year.
## **Depreciation**
The depreciation on equipment, Instruments and vehicle is calculated at 20% reducing straight line method.
**7**