## **ELTHAM FOURSQUARE GOSPEL CHURCH**
**REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025**
**CHARITY NO: 1164127**
**Eltham Foursquare Gospel Church Financial statements for the year ended 28 February 2025**
|**Contents**|**Page(s)**|
|---|---|
|Legal and administrative information|1|
|Report of the trustees|2 - 5|
|Report of the independent accountant|6|
|Statement of financial activities|7|
|Balance sheet|8|
|Notes forming part of the financial statements|9 - 13|
## **Eltham Foursquare Gospel Church Report of the trustees for the year ended 28 February 2025**
The trustees present their report and financial statements for the year ended 28 February 2025.
|**Reference and administrative**|**information**|
|---|---|
|**Charity name:**|
Eltham Foursquare Gospel Church|
|**Charity registration number :**|
1164127|
|**Registered office and**||
|**operational address:**|
12 Woodville Close|
||London|
||SE3 8ED|
|**Trustees:**|
Pastor Adekunle Oladipo Ogunnaike|
||Mrs Grace Adefunmilola Omotoso|
||Mrs Comfort Adeoja Adesemowo|
||Reverend Dr Osaren Emokpae|
|**Accountants:**|Crownwise Consult Ltd|
||1A Town Square|
||Erith|
||Kent|
||DA8 1RE|
|**Bankers:**|
HSBC Bank Plc|
Page 1
## **Eltham Foursquare Gospel Church Report of the trustees for the year ended 28 February 2025.**
## **Our aims and objectives**
## **Purpose and aims**
The objects of the charity are:
The company is a charity with a primary objective to reach out to people about the Christian faith with focus within Eltham and South East London.
a) To advance the Christian faith in accordance with the statement of belief appearing in the schedule hereto in London and such other parts of the United Kingdom or the world as the trustees may from time to time think fit and to fulfil such other purposes which are exclusively charitable according to the law of England and Wales and are connected with the charitable work of the trust.
b) To relieve persons who are in conditions of need or hardship or who are aged or sick and to relieve the distress caused thereby in the said location and in such other parts of the United Kingdom or the world as the trustees may from time to time think fit.
## **Ensuring our work delivers our aims**
We review our aims, objectives and activities each year. This review looks at what we achieved and the outcomes of our work in the previous 12 months. The review looks at the success of each key activity and the benefits they have brought to those groups of people we are set up to help. The review also helps us ensure our aim, objectives and activities remained focused on our stated purposes. We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aim and objectives and in planning our future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives they have set.
## **The focus of our work**
Our main objectives for the year continued to be the advancement of the Christian religion and to strive to improve the living conditions of the needy. The strategies we applied to meet these objectives included:
1. Provision of weekly church services on Wednesday and Sunday to minister to the physical, spiritual and material needs of the congregation.
2. Provision of special events and meetings to meet the specific needs of target groups in the church such as men, women, youth and children.
3. Focusing on the material needs of certain members undergoing difficult financial situations.
4. Working with other Christian agencies and churches in London to advance the preaching of the Gospel.
5. Provision of pastoral care for the members and other members of the community.
6. Missionary and outreach work.
Page 2
## **Eltham Foursquare Gospel Church Report of the trustees for the year ended 28 February 2025.**
## **How our activities deliver public benefit**
Our main activities and who we try to help are described below. All our charitable activities focus on the advancement of the Christian religion and the relief of poverty and sickness.
- a. Ministering every week to the spiritual needs of the people through Bible study, prayer meetings, counselling sessions and healing meetings.
- b. Our focus as a ministry and church is the outreach for souls.
## **Who used and benefited from our services?**
Our church services are presented with both the regular congregant and the visitor or seeker in mind. We minister to the physical, mental and spiritual needs of the members in our services giving specific consideration to the seekers or new comers in our midst who may not necessarily have a church background and as such may not understand the processes and procedures of Christianity.
We have also helped to relieve poverty and hardship amongst both regular and irregular congregants who are suffering from a period of financial hardship due to unemployment and lack of financial resources.
## **Review of transactions and financial position**
During the year, income of £37,608 (££27,715 in 2024) was received as voluntary donations. The net movement in funds for the period, as shown in the statement of financial activities, for the period is a surplus of £13,722 (deficit of £642 in 2024). The value of the net assets as at 28th February 2025 is -£9,842 (£3,8795 in 2024).
## **Principal funding sources**
The principal funding sources for the charity are currently by way of donations and gifts from congregants given by bank transfer and bank standing orders. We have exercised our right to reclaim the tax on the donations and gifts received from the congregants and this has proved a steady and growing source of additional income.
## **The contribution of volunteers during the year.**
The church is grateful for the commitment and efforts of its volunteers who are involved in services provision. The church has over 10 volunteers committed to working in various departments within the church. The church continues to dispense the service of heads of departments and ministers to ensure that the best value is derived from the sterling efforts of the volunteers.
## **Recruitment and appointment of trustees**
The trustees who are also charity trustees for the purposes of charity law are in charge of the strategic direction of the charitable trust. Under the requirements of the Declaration of Trust the trustees are elected to serve for a period of three years after which they must be re-elected at the next annual general meeting.
All trustees give their time vouluntarily and receive no benefits from the charity.
Due to the nature of church work, trustees appointed have been so selected on the basis of their faith, strength of character, skills set in the area of business management and growth and commitment to the vision of the charity.
Page 3
## **Eltham Foursquare Gospel Church Report of the trustees for the year ended 28 February 2025**
## **Trustees induction and training**
Most trustees are already familiar with the practical work of the charity having been friends of the church for a number of years. Additionally, new trustees are invited and encouraged to function in the capacity as friends of the church in order to understand the offerings of the church and its market. Additionally new trustees would be invited as required and encouraged to attend a series of short training sessions to familiarise themselves with the charity and the context within which it operates. These sessions would be jointly led by the chair of trustees and the chief executive or senior pastor of the charity and cover:
o The obligations of trustees.
o The main documents which set out the operational framework for the charity including the Declaration of Trust.
o Resourcing and the current financial position as set out in the latest published account. o Future plans and objectives.
## **Constitution and objects**
Eltham Foursquare Gospel Church is constituted under a trust deed and is a registered charity (Charity No 1164127).
## **Risk management**
The trustees have identified the major strategic risks to which Eltham Foursquare Gospel Church are exposed and established controls and actions to mitigate them. Each year, risk assessment is carried out and are subject to continual review and monitoring. The trustees take all appropriate steps to mitigate and manage the inevitable operational risks to which the volunteers and assets of Eltham Foursquare Gospel Church are exposed. Competence based training for volunteers, monitoring of new legislative requirements are examples of steps taken.
In particular, there are policies and procedures for children and vulnerable adults protection and for health and safety risks. Furthermore, a risk register is to be established and updated at least annually.
Page 4
## **Eltham Foursquare Gospel Church Report of the trustees for the year ended 28 February 2025**
## **Statement of trustees' responsibilities**
The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities Act 2011 and the Charities (Accounts and Reports) Regulations 2008. Notwithstanding the explicit requirement in the extant statutory regulations,the Charities (Accounts and Reports) Regulations 2008, to prepare the financial statements in accordance with the SORP 2005, in view of the fact that the SORP 2005 has been withdrawn, the trustees determined to interpret this responsibility as requiring them to follow current best practice and prepare the accounts according to the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP).
In particular, charity law requires the trustees, if they prepare accounts on an accruals basis, to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of the surplus or deficit of the charity. In preparing those financial statements the trustees are required to :-
- to prepare the accounts in accordance with United Kingdom Generally Accepted - select suitable accounting policies and apply them consistently;
- make judgements and estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate
- to presume that the charity will continue in business;
- state whether applicable accounting standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements;
The law requires that the trustees must not approve the accounts unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the surplus or deficit of the charity for the year.
The trustees are also responsible for maintaining adequate accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which are sufficient to show and explain the charity's transactions and enable them to ensure that the financial statements comply with regulations made under the Charities Act 2011. 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.
The trustees are also responsible for the contents of the trustees' report, and the statutory responsibility of the independent examiner in relation to the trustees' report is limited to examining the report and ensuring that , on the face of the report, there are no material inconsistencies with the figures disclosed in the financial statements.
This report was approved by the board of trustees on 25 July 2025
Mrs Grace Adefunmilola Omotoso Trustee
Page 5
## **Eltham Foursquare Gospel Church**
## **Report of the independent accountant to the trustees of the charity on the accounts for the year ended 28 February 2025**
We report on the financial statements of Eltham Foursquare Gospel Church for the year ended 28 February 2025, as set out on pages 7 to 10, which comprise the statement of financial activities, the income and expenditure account, the balance sheet and the related notes to the financial statements, including a summary of significant accounting policies. In our opinion, the accompanying financial statements of the charity are prepared, in all material respects, in accordance with charity law applicable within the jurisdiction of England & Wales and the accounts have been prepared in accordance with FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the bulletin issued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), published by the Charity Commission in England & Wales (CCEW), effective January 2016, under the historical cost convention, and in accordance with the accounting policies set out on page 9, which framework constitutes the applicable United Kingdom Generally Accepted Accounting Practice.
## **Respective responsibilities of the directors and the accountant**
As described on page 5, you, the charity's trustees are responsible for the preparation of the accounts. The trustees consider that the audit requirement of Section 144(1) of the Charities Act 2011 (the Act) does not apply, and that there is no requirement in the governing document for the conducting of an audit. The trustees also consider the charity to be exempt from the requirement to be subject to independent examination.
Our responsibility is to prepare accounts upon the basis of the information supplied to us, without conducting any formal scrutiny.
## **No statement of opinion**
We have not carried out any audit procedures and have relied upon information supplied to us by the trustees, and the information supplied by the trustees in the course of the examination is not subjected to audit tests or enquiries, and consequently we do not express an audit or other assurance opinion on the view given by the accounts.
Mr Adeniyi Zaccheus - Independent accountant Chartered Certified Accountant 1A Town Square Erith Kent DA8 1RE
This report was signed on 25 July 2025
Page 6
## **Eltham Foursquare Gospel Church**
**Statement of financial activities (including income and expenditure account) for the year ended 28 February 2025**
|**Notes**
**Incoming resources**
**Incoming resources from generated funds:**
Voluntary income:
Tithes and offerings
Others
**Total incomimg resources**
**Resources expended**
**Cost of generating funds:**
Costs of generating voluntary income
**3**
Charitable activities
**4**
Governance costs
**5**
**Total resources expended**
Net incoming resources before other recognised gains
**Net movement in funds**
**Reconciliation of funds**
Total funds brought forward
Adjustment against reserves
**Total funds carried forward**
**2**|**2025**
**2024**
**Unrestricted**
**funds**
**Restricted**
**funds**
**Total funds**
**Total funds**
**£**
**£**
**£**
**£**
25,892
-
**25,892**
25,369
11,717
-
**11,717**
2,346
**37,608**
**-**
**37,608**
**27,715**
12,287
-
**12,287**
15,263
10,300
-
**10,300**
12,695
1,300
-
**1,300**
400
**23,887**
**-**
**23,887**
**28,358**
13,722
-
**13,722**
(642)
**13,722**
-
**13,722**
**(642)**
(3,879)
-
**(3,879)**
13,335
-
-
**-**
(16,572)
**9,842**
**-**
**9,842**
**(3,879)**|
|---|---|
The statement of financial activities includes all gains and losses in the year. All incoming resources and resources expended derive from continuing activities.
Page 7
## **Eltham Foursquare Gospel Church Balance sheet as at 28 February 2025**
|**Notes**
**Fixed assets**
Tangible assets
**9**
**Current assets**
Cash at bank and in hand
Debtors
**10**
**Current liabilities**
Creditors
**11**
Net current assets
**Creditors more than one year**
**12**
**Net assets**
**13**
**Unrestricted funds**
General funds
**14**
**Total funds**|**2025**
**£**
**3,113**
**15,978**
**2,900**
**18,878**
**(8,149)**
**13,842**
**(4,000)**
**9,842**
**9,842**
**9,842**|**2024**
**£**
**1,171**
866
12,232
**13,098**
**(8,149)**
**6,121**
(10,000)
**(3,879)**
(3,879)
**(3,879)**|
|---|---|---|
The financial statements were approved by the trustees on 25 July 2025 and signed on its behalf by:
Mrs Grace Adefunmilola Omotoso Trustee
Page 8
## **Eltham Foursquare Gospel Church**
## **Notes forming part of the financial statements for the year ended 28 February 2025**
## **1. Accounting policies**
The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and in the preceding year.
## **(a) Basis of accounting**
The financial statements have been prepared under the historical cost convention, as modified by the inclusion of fixed assets investments at market value, and in accordance with the and the Statement of Recommended Practice (SORP) Accounting and Reporting by Charities issued in March 2005.
## **(b) Fund accounting**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. Unrestricted funds may include a revaluation reserve representing the restatement of investment assets at market values where applicable.
Designated funds are unrestricted funds earmarked by the trustees for particular purposes. Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of an appeal.
## **(c ) 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 grants, donations and gifts and is included in full in the statement of financial activities when receivable. Grants, where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant.
Donated services and facilities are included at the value to the charity where this can be quantified. The value of services provided by volunteers has not been included in these accounts.
## **(d) 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.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly.
## **(e) Fixed assets**
Fixed assets are stated at cost less accumulated depreciation. Depreciation is provided at rates calculated to write off the cost of each asset over its expected useful life, which in all cases is estimated at 5 years.
Page 9
## **Eltham Foursquare Gospel Church**
**Notes forming part of the financial statements for the year ended 28 February 2025**
|**2. Donations**
Tithes and offering
Other church income
Grant Income - BBL
Gift aid
**Total resources expended**
**3. Costs of generating voluntary income**
Administration
Support costs
Premises
**4. Charitable activities**
Ministry
**5. Governance cost**
Professional fees
**Total resources expended**
**6. Net incoming resources for the year**
This is stated after charging:
Depreciation
Accountants fees|**Unrestricted**
**Restricted**
**funds**
**funds**
**£**
**£**
25,892
-
94
-
-
-
11,623
-
**37,608**
**-**
**Church**
**work**
**Support cost**
**Governance**
**cost**
**£**
**£**
**£**
1,262
-
-
-
1,683
-
9,342
-
-
**10,604**
**1,683**
**-**
10,300
-
-
**10,300**
**-**
**-**
-
-
1,300
**-**
**-**
**1,300**
**20,904**
**1,683**
**1,300**|**2025**
**2024**
**Total**
**Total**
**£**
**£**
**25,892**
25,369
**94**
2,346
**-**
-
**11,623**
-
**37,608**
**27,715**
**2025**
**2024**
**Total**
**Total**
**£**
**£**
**1,262**
1,417
**1,683**
3,570
**9,342**
10,277
**12,287**
**15,263**
**10,300**
12,695
**10,300**
**12,695**
**1,300**
400
**1,300**
**400**
**23,887**
**28,358**
**2025**
**2024**
**£**
**£**
1,058
458
400
400
**1,458**
**858**|
|---|---|---|
## **7. Trustee remuneration & related pay transactions**
No member of the board of directors/trustees received any remuneration during the year.
## **8. Taxation**
As a charity, Eltham Foursquare Gospel Church is exempt from tax on income and gains falling within Section 505 of the Taxes Act 1988 or s256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have arisen in the charity.
Page 10
## **Eltham Foursquare Gospel Church**
**Notes forming part of the financial statements for the year ended 28 February 2025**
|**9. Tangible fixed assets**
**COST**
At 1 March 2024
Additions in period
At 28 February 2025
**DEPRECIATION**
At 1 March 2024
Charge in period
At 28 February 2025
At 28 February 2025
At 28 February 2024
**10. Debtors**
Debtors
**11. Creditors - less than one year**
Bank loan - BBL
Creditors
Accruals
Unpresented cheque
**12. Creditors - more than one year**
Bank loan - BBL
**13. Analysis of net assets between funds**
Tangible fixed assets
Current assets
Current liabilities
Liabilities more than one year
**Net assets at 28 February**|**Music**
**Office**
**Furniture**
**Total**
**equipment**
**equipment**
**& fittings**
**£**
**£**
**£**
**£**
1,742
548
-
**2,290**
3,000
-
-
**3,000**
**4,742**
**548**
**-**
**5,290**
687
432
-
**1,119**
948
110
-
**1,058**
**1,635**
**542**
**-**
**2,177**
**3,107**
**6**
**-**
**3,113**
**1,055**
**116**
**-**
**1,171**
**2025**
**2024**
**£**
**£**
**2,900**
**12,232**
**2,900**
**12,232**
**2025**
**2024**
**£**
**£**
**6,000**
6,000
**1,749**
1,749
**400**
400
**-**
-
**8,149**
**8,149**
**2025**
**2024**
**£**
**£**
**4,000**
10,000
**2025**
**2024**
**Unrestricted**
**Restricted**
**Total**
**Total**
**funds**
**funds**
**funds**
**funds**
**£**
**£**
**£**
**£**
3,113
-
**3,113**
1,171
18,878
-
**18,878**
13,098
(8,149)
-
**(8,149)**
(8,149)
(4,000)
-
**(4,000)**
(10,000)
**9,842**
**-**
**9,842**
**(3,879)**|
|---|---|
Page 11
## **Eltham Foursquare Gospel Church**
**Notes forming part of the financial statements for the year ended 28 February 2025**
|**14. Movements in funds**
**Restricted funds:**
Total restricted funds
**Unrestricted funds:**
General funds
Total unrestricted funds
**Total funds**|**At 1 March**
**Adjustment**
**Incoming**
**Outgoing**
**At 28**
**2024**
**against**
**resources**
**resources**
**Feb**
**reserves**
**[Inc Gains]**
**2025**
**£**
**£**
**£**
**£**
-
-
-
-
-
-
-
-
-
-
(3,879)
-
37,608
23,887
**9,842**
(3,879)
-
37,608
23,887
**9,842**
**(3,879)**
**-**
**37,608**
**23,887**
**9,842**|
|---|---|
Page 12
## **Eltham Foursquare Gospel Church**
## **Income and expenditure account for the year ended 28 February 2025**
|Income
**LESS EXPENDITURE**
**Premises costs**
Hire of premises
**Administration**
Stationery & printing
Telephone
Bank charges
Finance Cost - BBL
Repairs and maint.
Insurance
**Ministry**
Website
Donation
Volunteer expenses
Musician expenses
Honorarium
Training
Events
Gifts & welfare
**Professional fees**
Accountancy fees
Professional fees
**Support costs**
Depreciation
Hotel and travelling
Entertainment
Sundry
**(Deficit)/surplus for the year**
**Surplus/(deficit) brought forward**
**Adjustment against reserves**
**(Deficit)/surplus carried forward**|£
£
9,342
**9,342**
-
156
115
389
-
603
**1,262**
-
970
-
200
825
-
4,646
3,658
**10,300**
400
900
**1,300**
1,058
625
-
-
**1,683**|**2025**
**£**
£
£
**37,608**
10,277
**10,277**
492
144
53
389
55
284
**1,417**
120
1,932
-
450
1,560
-
4,519
4,114
**12,695**
400
-
**400**
458
3,112
-
-
**3,570**
**23,887**
**13,721**
**(3,879)**
**-**
**9,842**|**2024**
**£**
**27,715**
**28,358**
**(642)**
**13,335**
**(16,572)**
**(3,879)**|
|---|---|---|---|
Page 13