BoldSign Document ID: 610d7f88-3339-441a-b75c-844838522866
GLORIOUS CHURCH INTERNATIONAL MINISTRIES
Report and Financial Statements For the year ended 31st December 2024 Charity number: 1142284
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BoldSign Document ID: 610d7f88-3339-441a-b75c-844838522866
GLORIOUS CHURCH INTERNATIONAL MINISTRIES
Legal and administrative information
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Reference and administrative details
Trustees
Rev Sylvanus Freeman
Mrs Georgina Obodoechina
Ms Ronnella Kawaley
Charity office
114 -126 Westmoor Street London SE7 8NQ
Charity number
1142284
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BoldSign Document ID: 610d7f88-3339-441a-b75c-844838522866
GLORIOUS CHURCH INTERNATIONAL MINISTRIES
Report of the trustees for the year ended 31 December 2024
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The trustees are pleased to present their report together with the financial statements of the charity for the year ended 31 December 2024.
Structure, Governance and Management
At GCIM the membership of the leaders consists of the Pastor, Leaders and Head of the various departments of the church. The Leaders and Elders are responsible for making decisions on all matters of general concern and importance to the ministry. Meetings are held monthly, the different departments are Women, Children, Men, Protocol, Welfare, Admin & Finance and Evangelism.
Members who served during the year from 1st January 2024 – 31st December 2024 were:
Pastor Sylvanus Freeman Pastor in charge Sis Georgina Obodechina Bro Berthan Macauley Bro Albert Momoh Bro Saidu Sanu
Objectives and Activities
The objects of the charity are to provide a place for Christian worship and to help children and the elderly.
There have been no changes in the objectives since the last annual report.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
During the year the charity was challenged with the high cost of living. Sunday worship and bible study has started in church, and it run alongside online service for members who are still uncomfortable to meet in person.
Financial Review
Total receipts on unrestricted fund were £78,238 and total payment of £79,173 was made by the ministry during the year.
The net result for the year was a deficit of £935 on unrestricted funds, total cash funds at the yearend was £214 . Rent remains the highest cost of the charity.
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BoldSign Document ID: 610d7f88-3339-441a-b75c-844838522866
Reserve Policy
It is GCIM’s policy to maintain a balance on unrestricted funds (if possible) which equals 3 months’ unrestricted payment totalling £8,250 to cover emergency situations that may arise from time to time.
Volunteer
We would like to thank all the volunteers who worked so hard during the year to make the church a blessing to the community. We want to thank especially all those who took turns to clean the church and worked during the lockdown to ensure that online services were successful. A big thank you to the women fellowship and the men fellowship for their tireless support to the ministry. A special thank you to all Elders and Leaders for keeping the church running, and members who joined the activities online.
Approved by the trustees on 31st October 2025 and signed on its behalf by:
…………………………….
Rev Sylvanus Freeman
Trustee
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BoldSign Document ID: 610d7f88-3339-441a-b75c-844838522866
GLORIOUS CHURCH INTERNATIONAL MINISTRIES
Financial Statements for the year ended 31 December 2024
Section A Receipts and payments
| Unrestricted funds |
Restricted funds |
Endowment funds | Total funds | Last year | ||||
|---|---|---|---|---|---|---|---|---|
| to the nearest £ |
to the nearest £ |
to the nearest £ | to the nearest £ | to the nearest £ | ||||
| Receipts | ||||||||
| General Offering | 72,370 | - | - | 72,370 | 73,194 | |||
| Gift Aid | 1,658 | - | - | 1,658 | 24,194 | |||
| Other Income | - | - | - | 1,608 | ||||
| Pledge | 4,210 | - | - | 4,210 | ||||
| Rent received | - | - | - | |||||
| **Sub total ** | 78,238 | - | - | 78,238 | 98,996 | |||
| Asset and investment sales. | ||||||||
| Loan | - | - | - | |||||
| Insurance | - | - | - | |||||
| Sub total | - | - | - | - | - | |||
| **Total receipts ** | 78,238 | - | - | 78,238 | 98,996 | |||
| Payments | ||||||||
| Evangelism & Special Events | 13,558 | - | - | 13,558 | 16,158 | |||
| Ministry expenses | 22,544 | - | - | 22,544 | 32,109 | |||
| Office expenses | 2,861 | - | - | 2,861 | 7,418 | |||
| Rents & rates | 33,932 | - | - | 33,932 | 39,614 | |||
| Telephone & broadband | 665 | - | - | 665 | 600 | |||
| Insurance | 920 | - | - | 920 | 689 | |||
| Utilities | 1,353 | - | - | 1,353 | 670 | |||
| Equipment | - | 4,184 | ||||||
| Loan | 389 | 389 | 629 | |||||
| Pension | - | 832 | ||||||
| Bank Interest | 662 | 662 | - | |||||
| Cleaning | 584 | 584 | - | |||||
| Repairs & maintenance | 337 | 337 | 427 | |||||
| Travel | 1,367 | - | - | 1,367 | 415 | |||
| **Sub total ** | 79,173 | - | - | 79,173 | 103,745 | |||
| Asset and investment purchases | ||||||||
| - | - | - | - | |||||
| - | - | - | - | |||||
| **Sub total ** | - | - | - | - | - | |||
| **Totalpayments ** | 79,173 | - | - | 79,173 | 103,745 | |||
| Net of receipts/(payments) | - 935 | - |
- | - 935 | - 4,749 | |||
| Transfers between funds | - | - |
- | - | - | |||
| Cash funds lastyear end | 1,149 | - |
- | 5,898 | ||||
| Cash funds thisyear end | 214 | - |
- | - 935 | 1,149 | |||
Section B Statement of assets and liabilities at the end of the period
| Categories | Details | Details | Unrestricted funds | Restricted funds | Endowment funds | |||
|---|---|---|---|---|---|---|---|---|
| to nearest £ | to nearest £ | to nearest £ | ||||||
| Cash funds | Current Account | 214 | - | - | ||||
| Rent Deposit | - | - | ||||||
| - | - | - | ||||||
| Total cash funds | 214 | - | - | |||||
| OK | ||||||||
| Assets | ||||||||
| Unrestricted funds | Restricted funds | Endowment funds | ||||||
| Details | to nearest £ | to nearest £ | to nearest £ | |||||
| Liabilities | - | |||||||
| - | ||||||||
| Signed by one or two trustees on behalf of all the trustees |
Signature | Print Name | Date of approval | |||||
| SylvanusFreeman | Sylvanus Freeman | 31/10/2025 | ||||||
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BoldSign Document ID: 610d7f88-3339-441a-b75c-844838522866
GLOURIOUS CHURCH INTERNATIONAL MINISTRIES
Notes to the financial statements for the year ended 31 December 2024
1 Accounting policies
a) The financial statements of GCIM have been prepared in accordance with the Church Accounting Regulations 2006 using the Receipts & Payments basis
b) Fund structure The principal accounting policies are set out below. The accounting policies have been adopted consistently throughout the year.
The funds held by the charity are either:
Unrestricted general funds - these are funds which can be used in accordance with the charitable objects at the discretion of the trustees.
Designated funds - these are funds earmarked by the trustees out of unrestricted general funds for specific future purposes or projects.
Restricted funds - these are funds that can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Endowment funds - these are funds that represent assets which must be held permanently by the charity. Income arising on the endowment fund can be used in accordance with the objects of the charity and is included in unrestricted income. Any capital gains or losses arising on the investments form part of the fund. Investment management charges and legal advice relating to the fund are charged against the fund.
c) VAT The charity is not registered for VAT and accordingly expenditure includes VAT where appropriate.
2 Unrestricted funds
| Outgoing 1st January2024 |
Incoming Resources |
Outgoing Resources |
Balance at 31st December 2024 |
|---|---|---|---|
| £1,149 | 78,238 | 79,173 | 214 |
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BoldSign Document ID: 610d7f88-3339-441a-b75c-844838522866
GLORIOUS CHURCH INTERNATIONAL MINISTRIES
Independent Examiners Report to the Trustee’s/ Members of Glorious Church International Ministries (GCIM)
Independent Examiners Report to the Trustee’s/ Members of Glorious Church International Ministries (GCIM)
I report on the accounts for the year ended 31st December 2024 which are set out in page 5
Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.
It is my responsibility to:
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examine the accounts under section 145 of the Charities Act,
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to follow the procedures laid down in the general Directions given by the
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Charity Commission (under section 145(5)(b) of the Charities Act, and
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to state whether particular matters have come to my attention.
My examination was carried out in accordance with general Directions 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 or disclosures in the accounts and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.
In connection with my examination, no matter has come to my attention
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which gives me reasonable cause to believe that in, any material respect, the requirements:
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to keep accounting records in accordance with section 130 of the
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Charities Act; and
to prepare accounts which accord with the accounting records and
comply with the accounting requirements of the Charities Act have not been met; or
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BoldSign Document ID: 610d7f88-3339-441a-b75c-844838522866
- to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Erica Freeman
F & F Business Strategies Ltd Room 2B01 South Bank Technopark 90 London Road London SE1 6LN
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