Dear Members and Friends of Elijah Good News Ministries,
It is with great gratitude and humility that we, the trustees of EGN Ministries, present the Annual Trustees Report for 2023-24. This report reflects the collective efforts of our congregation, leadership, and volunteers to steward the resources entrusted to us and further the mission of our church.
As trustees, our primary responsibilities include overseeing the financial health, property management, and administrative integrity of our church. This year, we have faced challenges and opportunities, all of which have strengthened our commitment to serving God and this community with faithfulness and transparency.
We are pleased to share highlights of the past year, including significant achievements, updates on property and infrastructure, and a summary of our financial stewardship. These accomplishments would not have been possible without the unwavering support of our congregation, whose prayers, time, and generosity enable us to fulfill our mission.
On behalf of the trustees, I extend my deepest thanks to everyone who contributed to the life of our church this year. Together, we have laid a strong foundation for the future, and we look forward to continuing our work with your ongoing support and faith.
In Christ’s service, Mrs Deepalakshmi Suthakaran
Financial Overview
The financial stewardship of EGN Ministries is a testament to the generosity and faithfulness of our congregation. In 2023-24, our total income was £179,320, reflecting contributions from tithes, offerings and special donations, and other revenue sources such as facility rentals or fundraising events.
Income Breakdown:
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General Fund including Tithes and Donation : £131,367
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Restricted Funds :£32,796
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Other Income – Gift Aid: £14,996
Expenditures:
Our total expenditures for the year amounted to £121,905 These funds were allocated to support the ministries, operational costs, mortgage ,rent and maintenance of our church facilities. Significant expenses included:
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Wages: £37,298 (this is minimum wage for 2 pastors and includes church members offering to Pastors)
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Donation to other charities & Visiting Pastors expenses: £28,462
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Project Costs, Restricted funds: £14,710 (Christmas Program ,VBS..etc)
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Church expenses: £14,036
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Mortgage interest : £13,505
We ended the year with surplus of £57,415
Looking Ahead:
We remain committed to transparency and stewardship, ensuring that every pound entrusted to EGN Ministries is used to advance God’s work in our community and beyond. Detailed financial statements are available in the appendix for those who wish to review them.
Thank you for your continued trust and generosity.
Property and Asset Management
The trustees have diligently overseen the management and maintenance of our church building. This year, we focused on ensuring that our facilities remain safe, functional, and welcoming for all who use them.
Key Updates:
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Routine Maintenance: Regular inspections and upkeep were conducted, including repairs
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New Services: We are blessed to start new Sunday service in Wakefield and Saturday evening service in Leeds
We are grateful to the volunteers and church members who assisted in maintaining our properties. These efforts ensure that our church remains a beacon of hospitality and service in the community.
Acknowledgments
We extend our heartfelt thanks to everyone who contributed to the life and mission of EGN church this year. From our dedicated volunteers, members and generous donors to our hardworking pastor, your efforts have made a lasting impact.
May God bless each of you for your faithfulness and commitment to our shared mission.
Conclusion
As we reflect on the past year, we are filled with gratitude for all that has been accomplished through the grace of God and the faithfulness of His people. We look forward to another year of growth, service, and worship, trusting that God will continue to guide us in all we do.
Thank you for your trust, prayers, and partnership in this journey. Together, we are building a legacy of faith that will bless generations to come.
In Christ’s Service, [Chairperson’s Name]
Mrs Deepalakshmi Suthakaran
ELIJAH GOOD NEW MINISTRIES FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Financial Statements Accountant's Report APR Accountancy Services Limited Shan House 80-86 North Street KEIGHLEY BD213AF
ELIJAH GOOD NEWS MINISTRIES INDEX TO THE FINANCIAL STATEMENTS General Information Accountant's Report Income & Expenditure Accounts Balance Sheet Notes to the Accounts
ELIJAH GOOD NEWS MINISTRIES GENERAL INFORMATION ADDRESS: THORN TREE STREET HALIFAX WEST YORKSHIRE HX13PH ACCOUNTANTS: APR ACCOUNTANCY SERVICES LIMITED SHAN HOUSE 80-86 NORTH STREET KEIGHLEY WEST YORKSHIRE BD213AF Page I
ELIJAH GOOD NEWS MINISTRIES THORN TREE STREET HALIFAX WEST YORKSHIRE HX1 3PH TRUSTEE, REPORT l approve these Accounts and confirm that I have made available all relevant records and information for their preparation. Name.. Joseph Thumma Signed....... JosyL t&Jth., ACCOUNTANT'S REPORT In accordance with instructions given to us we have prepared, without audit, the attached Accounts from the Accounting records of Elijah Good News Ministries, and from information and explanations supplied to us. APR Accountancy Services Limited Accountants and Business Consultants Shan House 80-86 North Street KEIGHLEY West Yorkshire BD213AF 30th January 2025 Page 2
ELIJAH GOOD NEWS MINISTRIES INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 2024 INCOME Donations General Fund Restricted Funds 131,367 32,796 14,996 161 Gift Aid Bank Interest Received 179,320 DEDUCT EXPENDITURE Church Expense Legal and Professional Accountancy Fees Motor and Travel Rent, Rates and Insurance Utility Bills Repairs and Maintenance Wages Pension Contributions Donations to Other Charities Project Costs - Restricted Funds Depreciation Bank Charges Loan Interest Paid 14.036 817 1,950 2,198 4,870 656 37,298 482 28,462 14,710 2,745 86 13,595 121,905 NET SURPLUS FOR THE YEAR £57,415 Page 3
ELIJAH GOOD NEWS MINISTRIES BALANCE SHEET AS AT 31 MARCH 2024 2024 CAPITAL ACCOUNT GENERAL FUND Balance Brought Forward as at 1 April 2023 105,510 Net Surplus for the Year 39,329 Released from Restricted Funds 144,839 RESTRICTED FUNDS Balance Brought Forward as at 1 April 2022 Net Surplus for the Year Released to General Fund 12,355 18,086 30,441 £175,280 REPRESENTED BY:. FIXED ASSETS (Note 1) 271,728 CURRENT ASSETS Sundry Debtors Bank Balance Cash in Hand 2,576 84,441 461 87,478 CURRENT LIABILITY Sundry Creditors (1,107) NET CURRENT ASSETS 86,371 358,099 LONG TERM LIABILITIES Bank Loan (182,819) TOTAL NET ASSETS £175,280 Page 4
ELIJAH GOOD NEWS MINISTRIES NOTES TO THE ACCOUNTS YEAR ENDED 31 MARCH 2024 Note 1: FIXED ASSETS Fixtures & Fittin Pro Total Cost At 1.4.23 Additions Disposals 263,493 916 5,646 7,033 270,055 7,033 At 31.3.24 263,493 916 12,679 277,088 reciation At 1.4.23 Charge for year 401 129 2,214 2,616 2,615 2,745 At 31.3.24 530 4,830 5,360 Net Book Value At 31.3.24 263,493 386 7,849 271,728 Net Book Value At 31.3.23 263,493 515 3,432 267,440 Page 5
CHARITY (OMMISSION FOR ENGLAND AND WALES Independent examiner's report on the accounts Section A Independent Examiner's Report Report to the trusteesl members of ELIJAH GOOD NEWS MINISTRIES On accounts for the year ended 31 MARCH 2024 Charity no (if any) 1154005 Set out on pages 1T05 I report to the trustees on my examination of the accounts of the above charity ("the Trust") for the year ended 31103124. Responsibilities and basis of report As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 {"the Act"). I report in respect of my examination of the Trust's accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. Independent I have completed my examination. I confirm that no material matters have examiner's statement come to my attention in connection with the examination which gives me cause to believe that in, any material respect: the accounting records were not kept in accordance with section 130 of the Charities Act. or the accounts did not accord with the accounting records. or the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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. 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. Signed.. Date.. 3010112025 Name.. ANDREW PAUL RUSSELL Relevant professlonal qualification{s) or body {if any): FMAAT, FFA Address: APR ACCOUNTANCY SERVICES LIMITED SHAN HOUSE, 80-86 NORTH STREET, KEIGHLEY, BD213AF