Charity reglstratlon number 1155293 (England and Wales)
GLORIA CHURCH
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Caladine
chartered Certified Accountant5

GLORIA CHURCH
LEGAL AND ADMINISTRATIVE INFORMATION
Trustoos
Sung Young Cho
Myung Hee Oh
Sun Moon Jung
Charity number (England and Wales)
1155293
Princlpal addres•
2A Sussex Road
New Malden
Surrey
KT3 4BP
Independent •xamln6r
John C81adlne FCCACTA FCIE
Caladine Limited
Chantry House
22 Upperton Road
Eastboume
East Sussex
BN21 1BF

GLORIA CHURCH
CONTENTS
Page
Truste8s réport
Statem8nt of trustees responsibllltl85
Independent examinarfs report
Statament of flnanclal activltlès
statement of financlal position
Notss to the flnancial statements
10-17

GLORIA CHURCH
TRUSTEES REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The trustees present their annual report and financial statements for the year ended 31 December 2024.
The financial statem8nts have been prepared in accordance with Ihe acGounting policies set out in note 1 to the
financial statements and comply with the charity's trust deed, the Charities Act 2011 and 'A¢counting and Reporting
by Charities: Statement of Recommended Practice applicable to chanties preparing their accounts in accordance
with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102)" (effective 1 January
2019).
Objectives and activitles
The charills objects are lo advance the Christian faith for the benefit of the public by such means as the trustees
shall from time to time d8mand.
Public ben8fit
The trustees have paid due reg8rd to guidance issu8d by the Charily Commission in deciding what activities th8
charity should undertake.
Achlevamonts and performanc•
Significant actiwtles and achi8vem8ntS ageinst obJe¢tlv8s
Sunday SeTrlce
Sunday worship= The most important meeting of the week, and a day where believers gath8r to praise God and
enjoy a d9ep and meaningful fellowship with one another.
On this day, according to the gifts God has bestowed upon them, every member play5 a different role for the
congregation. Some prepare refreshments, some help with tech and others partake rnusical roles during worship
music. These acts of services are done joyfully and voluntarily= an expression of one's love for God and for one
another.
Three main servlces are held., each designed for a specific group: Youth Worship Service, Adult Worship SeNic8
and Young Adult Worship Service.
10.'30 a.m.. Youth Worshlp S81VIC8.
Conductèd In English, this service Is de$lgn8d to allow t88nagers to worshlp and connect to God in a langu8g8 that
Is most comfortable for them.
It is a time where they can voice any concerns and worries without judgement and open discussions with thelr peers
allows them to become refreshed in Spirit and recharged for the upcoming week.
Refreshments and snacks are prepared after the service, allowing the youth lo utilize this time to enjoy fellowship
and pray for one another.
I.'OO p.m.' Adult Worship SerwGe (designed for adults from various cultural and ethnic backgrounds)
This service is a beautiful reflection of the unity of God's people, where individuals from different W81ks of life and
backgrounds come together to worship as one body.
After th8 seNice, a time for fellowship time over coffee, tea, and light refreshments is held. It is in these moments
that bonds of love are strengthened, weary hearts find rest, and courage is ￿neWed for the coming week. Elderly
members find this time as a source of joy and vitality reminding them that they are deeply loved and never alone.
7:00 p.m.: Young Adutt Worship SeNice.
This gathering is marked by a more informal and crèative Style of worship, breaking away from traditional formats
while keeping Christ at the centre.
It is a time for young adults to recover loy In their hearts, to be uplifted, and to receive freth strength for the
hallenges of tomorrow.
Both the moming Youth Service and the aftemoon Adult servi￿ are offered both in person and online (via Zoorn).
This allows Ihose who are unable to attend to still participate, experience God's grace, and share in the fellowship
wherever they are.
Our church continues and thrives to be a family where worship. love, and encouragement flow freely. A constant
reminder that in Christ, we are never alone.

GLORIA CHURCH
TRUSTEES REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Earty Alorning Prayer Meetlng
Every moming at 6:00 a.m., we gather for a precious lime of prayer. Offered both in person and via Zoom, this
moming prayer meeting welcomes everyone and anyone to start the day in the pr8sence of God.
By beginning the day in prayer, we sat the right priorities for our lives, seeking God first and entrusting our plans into
His hands. This sacred hour not only fills us with strength for the day ahead bul also aligns our hearts to follow the
Lord's good and perfect guidance.
Early Morning Worshlp MeeNng
Taking place at 8am. thi5 worship meeting is sulted for those with a more flexible morning schedule. It is held both in
person and via Zoom.
Petsonal prayer requests are shared wlth one another at the end of the mèétlng. It becomes a meaningful tlme of
mutual care, as we intercede for èach olher's needs and lift one anoth8r up before the Lord.
Family Servlce
The Famlly Worship Service is designed for all generations to come together in united worship.
This is held once a month, where the entire church family gathers as one body to worship the Lord.
This is a beautiful moment enabling different generations to build deeper bonds of friendshSp, mutual respect, and
genuine care for one another. Through this shared experience, we glorify God together as a whole family of faith
and reaffirm our love for one another across generations.
Each age group prepares songs and perfomiances lo worship God, blessing and delighting other in the process.
After the service, we enjoy a rich time of fellowship, sharing both church-prepared and personally brought dishes.
Over good food and warm conversatians, we strengthen our relationships and experience the joy af being one
family in Christ.
Youth Group Meetlng
The Young People's Fellowship lakes place on Friday evenings, offering a vibrant space for spiritual growth and
genuine friendship. We spend time studying the Bible together and also enjoy moments of fellowship that
strengthen our bonds as brothers and sisters in Christ.
Occasionally parents join in, making it an interg8neratlonal evening filled wllh games, laught8r, and joyful
conversalions. Other times, we focus morts deeply on Bible study, diving into God's Word and learning how to apply
it to our daily lives.
In addition to Friday nights, wè hold special youth gath8rings11.8 Youth Day) several limes thro￿hOUl the year.
These times Often slart with team bonding aclivlt16s, e.g. visiting amusement park5 etc, followed by meals and open
conversallons. It offers a time for teenagers and Young People to rewind and s8ek comfort from their peers,
especially In a period of their life whith can often fe81 isolating and overwhelming.
By creating a warm, welcoming community where they are valued and supported, we help ensure that no young
person walks alone but instead finds the courage and strength to kéep moving forward in faith.
Summer Semlnar
This past summer, we hosted an intensive 5-7 day seminar for adults and youth: a time set apart to seek God
deeply and without distraction. The gathering combines rich biblical teaching, heartfelt spiritual reflection. and an
atrnosphere where faith can flourish.
From sunrise to sunset. each day was filled with dynamic teaching sessions, engaging group discussions, and
powerful times of worship. Every part of the schedule had been prayerfully crafted to stretch the mind, strengthen
the heart, and inspire participants to live out God's Word in their daily liv85.
Nutritious and delicious meals were served throughout the week, ensuring everyone was cared for both physically
and spiritually.

GLORIA CHURCH
TRUSTEES REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
For many, the seminar became a turning point in their spiritual joumey= a week of renewal, fresh vision, and deep
fellowship with brothers and sisters in Chrisl. It was a season not only remembered bul cherished as a milestone of
faith and growth.
Event Sunday
th r's Su
On Motherfs Day, service is d8dicated to honour and thank all mothers.
We invite them to join us for a time of worship that expresses our deep gratilude for their love, sacrifice, and
faithfulness.
During the seNicè, children present heartfelt lètters, poems, and songs they have lovingly pr8par8d for their
mothers. crèating moments filled with joy and emotion.
The church a150 provides a beautiful rec8ption with delicious food, thoughtful gifts. and fr8sh fflowers, making the
day truly memorable in the presence of God.
Even mothers who cannot attend church regularly are invited, ensurfng that our c81ebration extends bèyond our
congregation. It becomes a meaningful occaslon not only lo express our appreciation to mothèrs wlthln the church
but also to honour all mothers in our wider community.
Easter Sunday is one of the most lofjul and grand celebratlons of the year in our church, rlvalled only by Christmas
in its significanc8 and festivity. On this special day, we warmly invite many friends, neighbours, and members of the
wider community to join us in worship, lifting our volces together in praise to the risen Lord.
The service is filled with life and inspiration, Easter cards are exchanged to encourage one another, and the worship
is vibrant and moving. Children express their joy through songs and choreographed praise, while adults offer
heartfelt prayers. confessing their faith with gratitude and reverence.
As Easter is a day of great rejoicing, the church prepares a feast of delicious food, along with thoughtful gifts, so
that everyone can celebrate together and give glory to God. After the service, members participat8 in fun activities
such as an Easter egg hunt and other planned games, creating laughter and happy memories. Gifts are distributed
so that every person can take home a reminder of the joy and hope we have in Christ's resurrection.
Barbecue Sunday is held with tha prlmary purpose of outreach and fellowship, and it has quickly become one of our
most anticipated gatherings. On this day, many people, both members and guests, come together to enjoy a tlm8 of
connaclion, joy, and community.
For our congregation, it strengthens the bonds of fellowship, whlla for n8wcomers. it offers an easy and welcoming
way lo join in without feeling out of place.
Young people enjoy Irvely games and aclivlties, whilè everyone shares In the richness of life over a delicious
barbecue meal.
The casual and friendly atmosphere op8ns the door for deeper conversalions. allowing peopl8 to share their
personal slories and experiences with one another.
Whi18 prepartng for the event r8quir8s significant effort and the gathering of various 8quipmenl, the seNl¢e and
dedication of volunteers make il all worthwhile.
The resull is a joyful, abundant. and grace-filled time that draws people closer to God and to each other.
The Christma5 Service is a joyous celebration of the birth of Jesus Christ. d8signed to welcome and b18ss people of
all ages and backgrounds. This service is especially focused on reaching out lo thos8 who may feel lonely or
marginalized. inviting them to experience God's love and the wamith of our church community.
We prepare an abundance of gifts, delicious food, and engaging programs 50 that everyonwegardless of age or
social background-can share in the joy of the season. Performances prepared by each age group bring laughter,
delight, and a sense of wonder to the celebration. Thoughtfully prepared meals and carefully chosen gifts are
shared among attendees. allowing everyone to expertence the richness and generosity of God's love.
Through the service, shared meals, gift exchanges, and the heartfelt sharing of letters and messages of
encouragement, all participants can encounter and celebrate the fu15ness of God's love in a truly memorable way.

GLORIA CHURCH
TRUSTEES REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Church Retreat
The church organized both summer and winter retreats in Comwall & Essex, ranging from from up to 4 days. These
gathering5 offered a rich and varied program. including heartfelt worship, focused limes of prayer, lively games,
engaging sports activities, warm fellowship, and moments of quiet rest. For the youth in particular, these retreats ar8
a powerful source of encouragement, renewal, and spiritual challenge, helping them grow in faith and deepen théir
relationships with one another.
In the days and week5 following each retreat, we witness tangible and uplifting changes in the lives of the young
people, greater enthusiasm in worship. deeper bonds of friendship. and a renewed sense of purpose in their walk
with God. Over lime. the retreats are regarded as one of the most treasured traditions of the church, not only for the
joy and fun they bring but also for the lasting spiritU81 benefits they provide to everyone involved. They sland as a
highlight of the year, eagerly anticipated by all generations In our congregation.
SeThlng and Helplng People
This year, God opened many doors for us to care for both our church family and the wider community. We walked
alongside those facing financial struggles. serious health issues, job loss, and seasons of grief. In every siluallon,
we seek to be the hands and feel of Jesus offering heartfell prayers, practical help, and financial support when
needed.
Our care reaches far beyond our local community. We have stood with missionaries, a¢llv8ly supporting them e.g
one faithful servant of God who lost her husband. We partnered with missionary organizations and among them
helped a mini51ry dedicated lo worship and mu51C Outreach.
We serve the elderfy in special ways.. visiting them in their hom8S Wlth wann meals and companionship and inviting
them to our centre for shared meals, fellowship, and encouragement. These moments are always filled with joy,
laughter, and a reminder that no one is forgotten.
We have also helped families in distre88, assisted members rnovlng into new locations. and brought food and
essentials to those who were sick. Through our partnership with Compassion, we continue to care for children in
need, making sure they receive not only material support bul also the assurance that they are deeply loved.
Every visit, every meal, every prayer was an opportunity to share Christ's lov8 in a tangible way. Whether across th8
street or across the worfd, we are reminded that ministry is notjust something we do: il 18 who we are.
Extra Meetlngs
The leadership team gathers on a regular basis to thoughtftjlly revlew and assess the church's ongoing activlties,
ensuring Ihal every ministry remains aligned with our mission and values. These meetings also serve as a time to
plan visits to those who are facing hardship. offering prayer, comfort, and practical support, so that no one in our
community feels forgotten or alone. Through these intentional efforts, the t8am works dillgently to strengthen our
outreach, making certain that our care for others is both compassionate in spirit and effective in action.
Trustee Meetings
The trustees faithfully gather every Sunday afternoon, meeting for about an hour following the 1 PM service, to
address matters pertaining to the church's life and ministy.
In addition to these weekly sessions, they also convene ￿(ce a month on Saturday mornings, from 8..00 to 9:00 AM,
to thoughtfully deliberate on upcoming activities, assess ongoing ministries, and coordinate ways to assist those in
need within our congregation and community.
Al the close of each month, the trustees conduct a thorough review of both the church's activities and its financial
status. upholding the highest standards of transparency and accountabilty-
These regular evaluations enable them to make inforffled. strategic decisions that strengthen the church's mi55ion,
steward resour￿5 wisely, and provide meaningful support to all members.
Financial revlew
There was a deficit of £2,359 during Ihe year (2023.. deficit of £3,028). Total funds at the year end amounted to
£115.921 12023.. funds of £118,280).

GLORIACHURCH
TRUSTEES REPORT (CONTINUED>
FOR THE YEAR ENDED 31 DECEMBER 2024
Reserves policy
It is the policy of the charity that unreslricted funds which have not been designated for a specific use should be
maintained at a level equivalent to between three and six month's expenditure. The Irustees Consider5 Ihat reserves
at this level will ensure that, in the event of a significant drop in funding. they will be able to Gontinue the charity's
current activities while consideration is given to ways in which additional funds may be raised. This level of reserves
has been maintained throughout the year.
Major risks
The trustees have assessed the major risks to which the charity is exposed, and are satisfied thal systems are in
place to mitigate exposure to the major risks.
Structure, governance and management
The charity was establlsh8d by a charitsble constitutlon on 22 December 2013 and r8gistered with the charity
commission on the 10 January 2014.
The trustees who served during the year and up to the date of signature of the financi81 statemenls wer8:
Sung Young Cho
Myung Hee Oh
Sun Moon Jung
Recruitment and appolntm8nt of truste8S
Apart from the first charity trustees, every trustee must be appointed for a term of three years by a resolution
passed at a properly convened meeting of the charity trustees. In selecting individuals for appointment as charity
trustees, the chadty trustees must have regard to the skills, knowledge and experience needed for the effective
administration of the CIO.
Organisatlonal structur9
The church is managed on a day to day basis by the pastor Sung Young Cho subject lo the oversight of the
trustees.
The trustee
report was approved by the Board of Trustees.
Sung Young Cho
Trustee
Date:

GLORIA CHURCH
STATEMENT OF TRUSTEES RESPONSIBILITIES
FOR THE YEAR ENDED 31 DECEMBER 2024
The trustees are responsible for prèparing ihe Trustees Report and the financial statements in accordance with
applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting
Practice).
The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each
financial year which giv8 a true and fair view of th8 state of affairs of the charity and of the incoming resources and
application of resourc8s of the charity for that year.
In preparing these financial statements, the trustees are required trJ=
select sultable accountlng policies and then apply them consistently.,
observe the methods and principles in the Charities SORP..
- make judgements and estimates that are reasonable and prudent;
state vjhether applicabl8 accounting standards havè bèen followed. subject to any material departures disclosed
and explained In the financlal statements.. and
prepare the financial statements on the going concem basis unless it Is inappropriats to presume that the charity
wlll continue in operation.
The trustees are responslb18 for keeping sufficient accounting records th8t disclose wlth reasonable accuracy at any
time th8 financial position of the charily and enable them to ensure that th8 flnancial statements comply with the
Charltl8s Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of th8 trust deed. They
are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the
prevention and det8Ctlon of fraud and other iiregularili8S.

GLORIA CHURCH
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF GLORIA CHURCH
I report to the truste8s on my examination of the financial statements of Gloria Church (the ¢harityl for the year
ended 31 December 2024.
Responslbllltles and basls of report
As the trustee5 of lh8 charity you are responsible for the preparation of the financial ststements in accordance with
the requirements of the Charities Act 2011.
I report in re5P8Ct of my examination of th8 charity's financial sta18m8nls carried out under section 145 of the
Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission
undar section 14515llb) of the Charities Act 2011.
Independent èxamlnerfs statement
Your attention is drawn to the fact that the charlty has prepared the financial statements in accordanc8 Wlth the
relevant version of the Slatement of Recommended Practice applicable to charities preparlng their financial
statemènts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS
1021 in prefe￿nce to the Accounting and Reporting by Charities.. Statement of Recommended Practice issued on 1
Aprll 2005 which is r8f8rred to in the extant regulations bul has now been withdrawn. l understand that this has
been done in ordèr for the financial stat8m&nts to provide a true and falr vl8w In accordancè wlth UK Generally
Accepted Accounting Practlce.
I have completed my éxamlnation. I conflrm that no matters have come to my attention in connéctlon wlth the
examination giving me cause to believe that in any material respect..
accounting records were not kept in respect of the charity as required by section 130 of the Charities Act 2011.
the financial statement5 do not accord with those records., or
the financial statements do not comply wlth the appllcable requirements conceming the form and content of
financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any
requlrement that the financial statements 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 examlnatlon to which attentlon
should
drawn in this report in order to enable a proper understsnding of the financial statements to be reached.
John Caladine FCCA CTA FCIE
Caladine Lirnited
Chantry House
22 Upperton Road
Eastbourne
East Sussex
BN211BF
Date..
..lQJ. 2olC

GLORIACHURCH
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2024
Unrestrlcted
funds
2024
Unrestricted
funds
2023
Notes
Income from:
Donations and legacies
105,488
96,012
Totsl Incoma
105,488
96,012
Expendlture on:
Charitable acttvities
107,847
99,040
Total •xp•ndlturo
107,847
99,040
Net expendltur• and movement In funds
12,359)
{3,028)
Reconcillallon of funds:
Fund balances al 1 January 2024
118,280
121,308
Fund balances at 31 December 2024
115.921
118,280
The statement of financial activities Includes all gains and losses recognised in the year. All income and expenditure
derive from continulng activities.

GLORIACHURCH
STATEMENT OF FINANCIAL POSITION
ASAT31 DECEMBER 2024
2024
2023
Notes
Flxed assets
Propety, plant and equiprn8nt
2,902
4,115
Current assets
Trade and other receivables
Cash at bank and in h8nd
10
45,207
71,746
53,008
75,598
116,953
(3,934)
128,606
114,441)
Current Ilabllltlo8
11
Net current assets
113,019
114,165
Total assots lass current Ilabllltlos
115,921
118,280
The funds of the charlty
Unrestricted funds
13
115,921
118,280
115,921
118,280
The flnanclal tatements We￿ approved by the trustees on
Sung Young Cho
Trustee
Myung Hee Oh
Trustee

GLORIA CHURCH
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Accountlng pollcles
Charlty information
Gloria Church is a charitable incorporated organisation.
1.1 Accountlng conventlon
The financial statement5 have been prepared in accordance with the charity's constitution, the Charilies Act
2011 and 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable lo
charities preparing their accounts in accordance with the Financial Reporting Standard appllcable in the UK
and Republic of Ireland IFRS 102) (effective 1 January 20191. The charity is a Public Benefit Entity as defined
by FRS 102.
The charity has taken advantage of the provisions in the SORP for charlties applying FRS 102 UpdalB Bulletin
1 not to prepare a Statement of Cash Flows.
The financial statements have departed from the Charities {Accounts and Report51 R8gulations 2008 only to
th8 extent required to provide a true and fair view. This departure has involved following the Statement of
Recommended PractlC8 for charities applylng FRS 102 rather than th8 version of the Statément of
Recommend8d Practice whlch is referred to in the Regulatlons but which has since been withdrawn.
The financial slat8m8nts are prepared in sterllng, whlch is the functional currency of the charlty. Monetary
amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the histodcal cost convention. The principal accounting
policies adopted are set out below.
1.2 Golng concern
At the time of approving the flnancial statements, the trustees have a reasonable expectation thal the charity
has adequate resources to continue in operational existence for the foreseeable future. Thus th8 trustees
ntinue to adopt the going concern basi5 of accounting in preparing the financial statements.
1.3 Charltabl• funds
Unrestricted funds a￿ avallable for use at the discretlon of the trustees in furtherance of Iheir charStabl
objectives.
Designated funds comprise funds which have been set aside at the discretion of the trustees for speciflc
purposes. The purposes and use5 of the designated funds are set out in the note5 to the financial statements.
Restdcted funds are subject to specific conditions by donors or grantors 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.
1.4 Income
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 il 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 deferr81 of the amount. Income tax recoverable in
relation to donations received under Gift Aid or deeds of covenant is recognised 81 the time of the donation.
Legacies are recognised on receipl or othe￿iSe if the charity has been notified of an impending distribution.
the amount Is known, and receipt Is expected. If Ihe amount Is not known, the legacy is treated as a
contingent asset.
10-

GLORIA CHURCH
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Accountlng policies Icontlnued)
1.5 Expanditure
Expenditure is recognised once there is a legal or constructive obligation to trarisfer economic benefit to a
third party, it is probable that a transfer of economic benefits will be requirèd in settlernent, and the amount of
the obligation can be measured reliably.
Expenditure is classified by activity. The costs of each activity are made up of the total of dir￿1 costs and
sharéd costs, including support costs involved in undertaking each activity. Direct costs attributable to a single
activity are allocated directly to that activity. Shared costs which contribute to more than one aC￿VitY and
support costs which 8re not attributable to a single activity are apportioned betweèn those activities on 8 basis
consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and
depreciatlon charges are allocated on th8 Portion of the assét's use.
Resources expend8d are recognlsed Sn Ihe period In which they are Incurred and allocated to the particular
cost centre to whlGh they relate. Resources expended include irrecov&rable VAT.
1.6 Property, plant and equipment
Propety, fixtures and equipmént are initially measured at cost and subsequently measured 8t ￿$t or
valuation. net of d8preciation and any impaimienl losses.
Depreciation 15 r8cognis8d so as to write off the cost or valuation of assets less their resldual valués ovèr th8ir
useful lives on the followlng basis..
Fixtures, fittlngs & equiprnent
20% on a 8tralght line basls
The gain or loss arising on the disposal of an asset is determined as the difference be￿een the sale proceeds
and the carying value of the asset, and is recognised in the statement of financial activities.
1.7 Cash and cash equivalent$
Cash and cash equivalents includ8 cash in hand, deposlts held at call with banks, olher short-lerm liquld
investments with original maturitie5 of three months or less, and bank overdrafts. Bank overdrafts are shown
within borrowings in current Ilabilities,
1.8 Employee benefits
The cost of any unused holiday antillement Is recognised in the period in which the employee's services arè
received.
Termination benefits are recognised immedlately as an expense when the charity is demonstrably committed
to terminate the employment of an 8mployee or to provide termination benefits.
1.9 Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.10 Taxatlon
The income of the trust is solely for charitable a¢ttvlties and the trustees consider it not to be subject to
corporation lax.
11

GLORIA CHURCH
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
CrttlGal accounting estimates and Judgements
In the application of the charivs accounting policies, the trustees are requir8d to make judgement5. estifflates
and assumptions about the carying amount of assets and liabilities that are not readlly 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 8Stimates.
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 cnly that
period, or In the period of the revision and future periods where the revision affects both current and future
periods.
Income from donatlons and legacles
Unrestrlctod
funds
2024
Unrestrlcted
funds
2023
Donations and glfts
105,488
96,012
Donallons and glfts
Donallons
Gift aid reclaim
101,363
4,125
96.012
105,488
96,012
12-

GLORIA CHURCH
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Expendlture on charltable actlvities
Charltable
actlvltles
Charitable
activities
2024
2023
Direct costs
Staff costs
Manse rent
Sp8cial occasions and events
Gifts and donations
Church and youth retreats
V6nue hire
Small equipment
Refreshments and food
15,932
33,100
4,499
13,478
9,531
4,644
721
3,396
45,193
2,750
600
14,095
7,783
3,816
1,320
1,889
85,301
77,446
Share of support and governance costs (see not• 5)
Support
Govemancè
19,270
3,276
19,218
2,376
107,847
99,040
Analysls by fund
Unrestricted funds
107.847
99,040
Support costs allocated to a¢tlvltle$
Charllabl•
acllvltles
2024
Total
2023
Depreciation
Office rent
Office utilities
Prtnting, postage and stationery
Advertising
Computer costs
Office costs and insurance
Subscriptions and fees
Governance
1,213
14,500
1,495
261
150
272
827
552
3,276
1,300
14,500
1.145
335
200
298
1,145
295
2,376
22.546
21,594
13-

GLORIA CHURCH
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Support costs allocated to actlvltles {Continued)
2024
2023
Governance costs comprlse:
Legal and professional
Accountancy
Independent examination
Payroll
420
1,740
540
576
1,380
420
576
3,276
2,376
Trust•a8
Sung Young Cho r8C8iv8d pay of £15.468 {2023: £43,234) and employers pension contrlbutions of £464
12023.. £1,297) by way of remunerallon for services provided In hls role as pastor of thè church. At the end of
2023 the church also slarted to rent a manse for Sung Young Cho in hls role as pastor. The cost of rènting th8
manse in the year was £33,100 (2023.. £2,750).
Employees
The average monthly number of employees during the year was:
2024
Number
2023
Number
P8Storal
Employment costs
2024
2023
Wages and salari8S
Social security costs
Other p8n51on costs
1 S,468
43,234
662
1,297
15,932
45,193
There were no employaes whose annual remuneration was more than £60,000.
Remuneratlon of key management personnel
The remuneration of key management personnel was as follows:
2024
2023
Aggregate compensatlon
15.468
45,193
Taxation
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
14-

GLORIA CHURCH
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Property, plant and equipment
Flxtures.
fittings &
•qulpment
Cost
At 1 January 2024
10,408
At 31 Dècémb8r 2024
10,408
Depr•¢laUon and Impairm¢nt
At 1 January 2024
Depr8ciation charged In th8 y8ar
6.293
1,213
At 31 De￿mber 2024
7,506
Carrylng amount
At 31 December 2024
2,902
At 31 December 2023
4,115
10 Trado and other recelvables
2024
2023
Amounts falllng due wlthln one year:
Other receivables
Prepayments and accrued Income
12,858
32.349
15,358
37.650
45,207
53.008
Other recelvab18s include rental d8POSits.
Prepayments include 11 months of manse rentsl which was prepaid.
11 Current Ilabllltles
2024
2023
other tsxation and social security
other payables (Rent)
Accruals and deferred incorne
4,355
742
9,344
1,870
2,064
3,934
14,441
15-

GLORIACHURCH
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
12 Relirement beneflt schemes
2024
2023
Defined contrlbutlon schemes
Charge to profit or loss In respect of defined contribution schemes
464
1,297
The charity operatss a defined contribullon pension scheme for all qualifying employees. The assets of the
schem8 are held s8parat8ly from those of the charity in an independently administer8d fund.
13 Unrestrlcted funds
The unrestricted funds of the Gharity compris8 Ihe unexpended balances of donatloris and grants which are
not subject to specific conditions by donors and grantor5 a5 to how they may be used. These include
designated funds which have been $81 aside out of unrestricted fund5 by th8 trustees for specifiG purposes.
At 1 January
2024
Incomlng
resources
Resourcas
expendod
At31
December
2024
Youth gathering and office
General funds
10,013
108,267
(10,013)
197,834)
105,488
115,921
118,280
105,488
1107,8471
115.921
Previous yoar:
At 1 January
2023
Incoming
resources
Resources
expended
At31
December
2023
Youth gathering and office
General funds
29,057
92,251
119,044)
179,996)
10,013
108.267
96,012
121,308
96,012
199,040)
118.280
Notes
The charity has set aside general funds that were donated to the Church, for youth gatherings and office
rentsl costs.
16-

GLORIA CHURCH
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
14 Operatlng lease commitments
Le55ee
At the reporting end date the charity had outstanding commitments for fijture minimum lease payments under
nOn-Can￿lIable operating leas8s, which fall due as follows..
2024
2023
Within one year
Betsveen two and five years
45,850
14,500
47,500
59.250
60,350
106,750
15 Related party transaetlons
There were no dlsclosable related paty transactions durfng the y88r (2023 - none).
17