Charity number: 1143895
Global Crossfire Church UK
Trustees' report and financial statements
for the year ended 31 December 2022
Global Crossfire Church UK
Contents
| Page | |
|---|---|
| Legal and administrative information | 1 |
| Trustees report | 2 - 3 |
| Independent examiners' report | 4 |
| Statement of financial activities | 5 |
| Balance sheet | 6 |
| Notes to the financial statements | 7 - 9 |
Global Crossfire Church UK
Legal and administrative information
| Charity number | 1143895 |
|---|---|
| Registered office | 9 Fairfield Road |
| Broadstairs | |
| CT10 2JU | |
| Trustees | Samuel Boadi Gyimah |
| Joshua Bangura | |
| Rev Simeon Yamoah-Owusu | |
| George Odoom | |
| Edward McCann | |
| Resident Pastor | Rev. Benjamin Ashong |
| Independent Examiners | Eric & Co |
| Chartered Certified Accountants & | |
| Registered Auditors | |
| 87 Tylecroft Road | |
| London | |
| SW16 4BJ | |
| Bankers | Barclays Bank PLc |
Page 1
Global Crossfire Church UK
Report of the trustees for the year ended 31 December 2022
The trustees present their report and the financial statements for the year ended 31 December 2022. The trustees who served during the year and up to the date of this report are set out on page 1.
Structure, governance and management
The governing instrument of the Charity is its adopted Constitution dated 01 January 2011.
The day to day operation of the Church is controlled and managed by the Trustees.
Risk Management
The Trustees have assessed the major risks to which the charity is exposed, in particular those relating to the operations and finances of the Charity and are satisfied that systems and controls are in place to mitigate their exposure to the major risks.
Objectives and activities
In accordance with the objects set out in the constitution, the objectives of the Charity is to advance christian religion in the UK and the world for the benefit of enlighten others about the christian religion as well as the furtherance of Charity work.
The Trustees confirm that they have paid due regard to the guidance contain in the Charity Commission's general guidance on public benefit when reviewing the Trust's aims and objectives in setting the grant making policy for the year.
Achievements and performance
The year proved very successful in terms of donations received and ministry work. By the grace of God, most of the objectives set out in the year were achieved. The spiritual, physical and emotional needs of the member were met through church activities and programmes conducted throughout the year.
Financial review
The total reserves at the year end, which were all from unrestricted funds, amounted to £94,289 as compared to £81,408 in 2021. Tithes and offerings continue to be the main sources of income.
The reserves policy is to hold a minimum of 3 months income as a general reserve to enable the charity to carry out its operations and at an adequate level to meet its objectives. The amount held are reviewed on an annual basis.
Statement of trustees' responsibilities
The trustees are responsible for preparing the Trustees' Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of charity and of the incoming resources and application of resources of the charity for that year. In preparing these financial statements the trustees are required to:
-
select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
Page 2
Global Crossfire Church UK
Report of the trustees for the year ended 31 December 2022
The trustees are responsible for keeping proper accounting records which 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 Charities Act 2011 and the Charity (Accounts and Reports) Regulations 2008. 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.
On behalf of the board
Edward McCann Trustee
Date: 29 October 2023
Page 3
Global Crossfire Church UK
Independent examiner's report to the trustees on the unaudited financial statements of Global Crossfire Church UK.
I report on the accounts of Global Crossfire Church UK for the year ended 31 December 2022 set out on pages 2 to 9.
Respective responsibilities of trustees and independent examiner
As the charity's trustees you are responsible for the preparation of the accounts, you consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. It is my responsibility to examine the accounts under section 145 of the 2011 Act, to follow the procedures laid down in the General Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act and to state whether particular matters have come to my attention.
Basis of independent examiner's statement
My examination was carried out in accordance with the 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 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 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.
Independent examiner's statement
In connection with my examination, no matter has come to my attention:
(i) which gives me reasonable cause to believe that in any material respect the requirements:
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to keep proper accounting records in accordance with section 130 of the 2011 Act; and
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to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the 2011 Act
have not been met; or
- (ii) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Eric Ashong (FCCA)
for and on behalf of Eric & Co
Independent examiner
Chartered Certified Accountants & Registered Auditors 87 Tylecroft Road London SW16 4BJ
Date: 30 October 2023
Page 4
Global Crossfire Church UK
Statement of financial activities
For the year ended 31 December 2022
| Unrestricted funds Notes £ Incoming resources Incoming resources from generating funds: Voluntary income 2 42,072 Investment income 3 74 Total incoming resources 42,146 Resources expended Purchases - Rent 1,670 Catering & refreshment 1,782 Donations 3,101 Travelling expenses 1,381 Ministry expenses 8,400 Mission expenses 3,462 Accountancy fees 600 Postage, printing & stationery 1,522 Honorarium expenses 649 Musical costs 6,341 General expenses 357 Total resources expended 29,265 Net income/(expense) for the year 12,881 Total funds brought forward 81,408 Total funds carried forward 94,289 |
2022 Total £ 42,072 74 42,146 - 1,670 1,782 3,101 1,381 8,400 3,462 600 1,522 649 6,341 357 29,265 12,881 81,408 94,289 |
2021 Total £ 78,037 6 |
|---|---|---|
| 78,043 | ||
| 10,007 1,080 1,024 4,736 - 8,400 4,253 800 2,862 600 857 1,035 |
||
| 35,654 | ||
| 42,389 39,019 |
||
| 81,408 |
The statement of financial activities includes all gains and losses in the year and therefore a separate statement of total recognised gains and losses has not been prepared.
All of the above amounts relate to continuing activities.
The notes on pages 7 to 9 form an integral part of these financial statements.
Page 5
Global Crossfire Church UK
Balance sheet as at 31 December 2022
| Notes Current assets Debtors 5 Cash at bank and in hand Creditors: amounts falling due within one year 6 Net current assets Net assets Funds 7 Unrestricted income funds Total funds |
2022 £ £ 7,900 87,189 95,089 ) (800 94,289 94,289 94,289 94,289 |
2021 £ £ 6,150 76,258 82,408 ) (1,000 81,408 81,408 81,408 81,408 |
2021 £ £ 6,150 76,258 82,408 ) (1,000 81,408 81,408 81,408 81,408 |
|---|---|---|---|
| 81,408 | |||
| 81,408 | |||
| 81,408 |
The financial statements were approved by the trustees on 29 October 2023 and signed on its behalf by
Edward McCann Trustee
Joshua Bangura Trustee
The notes on pages 7 to 9 form an integral part of these financial statements.
Page 6
Global Crossfire Church UK
Notes to financial statements for the year ended 31 December 2022
1. Accounting policies
The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and the preceding year.
1.1. Basis of accounting
The financial statements are prepared under the historical cost convention and in accordance with the Statement of Recommended Practice 'Accounting and Reporting by Charities' issued in March 2005 (SORP 2005) and the Charities Act 2011.
1.2. Incoming resources
All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:
Voluntary income is received by way of donations, offerings and tithes and is included in full in the statement of financial activities when receivable.
Grants, including grants for the purchase of fixed assets, are recognised in full in the statement of financial activities in the year in which they are receivable.
Rental income is accounted for and included in the accounts in the year in which it is received.
Legacies are included when the charity is advised by the personal representative of an estate that payment will be made or property transferred and the amount involved can be quantified.
1.3. Resources expended
Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates.
Costs of generating funds comprise the costs associated with attracting voluntary income. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
2. Voluntary income
| Unrestricted funds £ Tithe & offering 25,693 Other income 3,169 Charity tax credit 7,604 Legacies - Grants receivable - Building project 5,606 42,072 |
2022 Total £ 25,693 3,169 7,604 - - 5,606 42,072 |
2021 Total £ 21,313 - 4,640 39,227 10,000 2,857 |
|---|---|---|
| 78,037 |
Page 7
Global Crossfire Church UK
Notes to financial statements for the year ended 31 December 2022
| 3. Investment income Unrestricted 2022 funds Total £ £ Bank interest receivable 74 74 74 74 4. Employees Employment costs No salaries or wages have been paid to employees, including the trustees, during the year. 5. Debtors 2022 £ Other debtors 7,900 6. Creditors: amounts falling due within one year 2022 £ Other creditors 800 7. Analysis of net assets between funds Unrestricted funds £ Fund balances at 31 December 2022 as represented by: Current assets 95,089 Current liabilities ) (800 94,289 |
2021 Total £ 6 6 2021 £ 6,150 2021 £ 1,000 Total funds £ 95,089 ) (800 94,289 |
|---|---|
Page 8
Global Crossfire Church UK
Notes to financial statements for the year ended 31 December 2022
| 8. | Unrestricted funds | At | At | |||
|---|---|---|---|---|---|---|
| 1 January | Incoming | **Outgoing ** | 31 December | |||
| 2022 | resources | resources | 2022 | |||
| £ | £ | £ | £ | |||
| General funds | 81,408 | 42,146 | (29,265 | ) | 94,289 |
Purposes of unrestricted funds
The unrestricted funds of the Trust are expendable at the discretion of the Trustees in furtherance of the objectives of the charity.
9. Related party transactions
No related party transaction during the year.
Page 9