## **GLOBAL IMPACT MINISTRIES**
## **FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 31[st] March 2023**
**CHARITY NUMBER: 1161506**
**GLOBAL IMPACT MINISTRIES 77 TEMPLEMEAD HOUSE HOMERTON ROAD LONDON E9 5PU**
**INDEX Page Index 1 Trustee’s Report 2 - 3 Receipts and Payments Account 4 Statement of Assets and Liabilities 5 Notes on the financial Statements 6**
**1**
## **GLOBAL IMPACT MINISTRIES**
# **TRUSTEES’ REPORT YEAR ENDED 31[st] MARCH 2023**
The trustees are pleased to present their report for the year ended 31[ST] March 2023 for the charity, Global Impact Ministries with charity number 1161506.
The Trustees of the charity are: Ms Angela Graham Mr Isaac Benjamin Nyarko Mr Charles Martey Ms Angela Cleland Ms Jennifer Amponsah-Poku
The principal address of the charity is : 77 Templemead House Homerton Road London E9 5PU
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
The Charity governing document is a CIO – Foundation Constitution registered 30[TH] April 2015.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 first to advance the Christian faith in accordance with the statement of beliefs for the benefit in the United Kingdom and in such other parts of the world as the trustees may think fit from time to time . 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 held no meetings through the year due to challenges in securing a suitable premises. They are expecting to restart their activities soon once suitable premises have been secured.
**2**
## **FINANCIAL REVIEW**
The income of the charity was £150. Though this is a small amount for the year the costs have been well managed over this period. The organisation is still in a good position to manage its costs. The main cost of the organisation was paying for the rent of its building that it uses for worship services and events.
## **PLANS FOR THE FUTURE**
The church intends to continue to hold services shortly. The intended re-appointment 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 20[th] March 2023 and signed on their behalf by:
_____________________________________________
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GLOBAL IMPACT MINISTRIES
ACCOUNTS FOR THE YEAR ENDED 31st March 2023
1 Receipts & Payments Account (General Purpose Fund)
Income Receipts £/2023 £/2022
Tithes and Offerings 150 120
Interest 0 0
Total Receipts 150 120
Direct Charitable Expenditure
Hire of Halls 0 0
Refreshments 0 0
Transport 0 0
Admin 150 120
150 120
Other Expenditure
Equipment 0 0
Instruments 0 0
0 0
Total Payments 150 120
Net Receipts/(Payments) for the year 0 0
Cash Funds brought forward 0 0
Cash Funds at the end of the year 0 0
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## **GLOBAL IMPACT MINISTRIES**
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2 Statements of Assets and Liabilities at 31st March 2023
Monetary Assets
Cash Funds Unrestricted Funds
£/2023 £/2022
£ £
Cash at hand and in bank 0 0
Total Cash Funds 0 0
Assets Retained for the
Charity's Own use
Non-monetary Assets and Liabilities
Musical Instruments 120 120
Equipments 150 150
270 270
Liabilities
Bookkeeping 150 120
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These accounts were approved by the trustees and signed on their behalf by: Angela Graham
________________________________________________
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**GLOBAL IMPACT MINISTRIES**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 31st March 2023**
## **ACCOUNTING POLICIES**
## **Basis of Accounting**
These accounts have been prepared on the receipts and payments basis with all revenue and expenses shown on a cash basis. Non-monetary assets are shown at estimates of the value at the end of the year.
## **Funds**
The CIO has a general unrestricted fund that receives voluntary donations from attendants at the services.
The CIO has no outstanding guarantees to third parties no any debts secured on the asstes of the CIO
## **Public Benefit**
The charity acknowledges its requirement to demonstrate clearly that it must have charitable purposes or aims that are for public benefit.Details of how this is achieved are provided in the Trustees report. The trustees confirm that they have paid due regard to the Charity Commission guidance on public benefit before deciding what activities the charity should undertake.
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