CHRIST GLORY WORD MINISTRIES FINANCIAL STATEMENT FOR THE PERIOD ENDED 31 JULY 2021
| CONTENTS | |
|---|---|
| PAGES | |
| 1.COMPANY INFORMATION | 1 |
| 3. ACCOUNTANTS REPORT | |
| 2 | |
| 4. STATEMENT OF DIRECTORS’ REPORT | |
| 3-4 | |
| 5. ACCOUNTANT’S REPORT | 4-5 |
| 6. BALANCE SHEET | 5-6 |
| 7. SUMMARIZED & DETAILED INCOME & EXPENDITURES | |
| 7-8 | |
| 8. NOTES TO THE FINANCIAL STATEMENT | 9-10 |
CHRIST GLORY WORD MINISTRIES FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 JULY 2021
INCORPORATION NUMBER:
08604938
STATUS: GUARANTEE
PRIVATE COMPANY LIMITED BY
DIRECTORS:
ABOLADE AKINREMI
SECRETARY:
OLAWALE OLUSOLA OGUNYODE
REGISTERED OFFICE:
21 HOLST AVENUE BASILDON ESSEX SS15 5RD
ACCOUNTANTS:
Colinson and Company Ltd Accountants and Tax Consultants
Regent 88, Unit 3 201 Church Road London, E10 7JQ
Page I
REPORT OF THE ACCOUNTANTS TO MEMBERS OF CHRIST GLORY WORD MINISTRIES FOR THE PERIOD ENDED 31 JULY 2021
We have examined the accounts for the period 31 July 2021.
Respective Responsibilities of Directors and Reporting Accountants
As described on page 4 the company’s directors are responsible for the preparation of accounts. It is our responsibility to examine the accounts and based on our examination to report our opinion, as set out below, to the shareholders.
Basis of Opinion
We conducted our opinion in accordance with the appropriate standards for reporting accounts issued by the Auditing Practices Board. This examination consisted of comparing the accounts with the accounting records kept by the company and making such limited enquiries of the officers of the company, as we considered necessary for the purposes of this report.
Opinion
In our opinion:-
-
(a) The accounts are in agreement with the accounting records kept by the company under S386 of the Companies Act 2006.
-
(b) Having regards only to, and on the basis of, the information contained in those accounting records:
-
(i) The accounts have been drawn up in a manner consistent with the accounting requirements specified in S393 of the Act: and
-
(ii) The company satisfied the conditions for exemption from audit of the accounts for the period specified in S477 of the Act and did not, at any time within that period, fall within any of the categories companies not entitled to the exemption specified in S478 of the Companies Act 2006.
COLINSON AND COMPANY LTD. ACCOUNTANTS AND TAX CONSULTANTS
REGENT 88, UNIT 3 210 CHURCH ROAD LEYTON LONDON E10 7JQ
DATE ..............................…............
Page 2
CHRIST GLORY WORD MINISTRIES DIRECTOR’S REPORT FOR THE PERIOD ENDED 31 JULY 2021
The Director presents his report and financial statements for the year period 31 July 2021.
OBJECTIVES AND ACTIVITIES
Our principal activity is the liberation of lost souls by the word of God and raising great nations through the teaching of Jesus Christ. In addition, the charity helps in the relief of poverty in all parts of the world; directly to our immediate members, their families, members of local and international communities as occasion demands, in cash and in kind.
DIRECTORS’ RESPONSIBILITIES
Company law requires the directors to prepare accounts for each financial year, which gives a true and fair view of the state of affairs of the company and the profit or loss of the company of that period. In preparing those accounts, the directors are required to:
-
select suitable accounting policies and then apply them consistently
-
make judgements and estimates that are reasonable and prudent
-
follow applicable accounting standards, subject to any material departures disclosed and explained in the accounts
-
prepare the accounts on the going concern basis unless it is inappropriate to presume that the company will continue in business
The directors are responsible for keeping proper account records which, disclosed with reasonable accuracy at any time, the financial position of the company and to enable them to ensure that the accounts comply with the Companies Act. 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Page 3
CHRIST GLORY WORD MINISTRIES DIRECTOR’S REPORT CONTINUED FOR THE PERIOD ENDED 31 JULY 2021
Colinson and Company Ltd, Accountants and Tax Consultants have indicated their willingness to continue to act for the company. Accordingly a resolution will be proposed at the forthcoming Annual General Meeting.
Basis of Preparation
In preparing the above report, the directors have taken advantage of special exemptions applicable to small companies under S477 of the Companies Act. 2006.
SIGNED ON BEHALF OF THE BOARD
………………………….…………………. DIRECTOR
ABOLADE AKINREMI
…………………………………………….. SECRETARY OLAWALE O. OGUNYODE
APPROVED BY THE BOARD
DATED THIS ……………………..
DAY OF ……..……………….. 20…
Page 4
CHRIST GLORY WORD MINISTIRES BALANCE SHEET AS AT 31 JULY 2021 (CONTD)
The directors have taken the advantage of the Companies Act 2006 in not having these Accounts audited Under Section 477.
The members have not required the company to obtain an audit of its financial statements for the period ended 31 July 2015 in accordance with Section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for:
-
a. Ensuring that the company keeps accounting records which comply with Section 386 of the Companies Act 2006 and
-
b. Preparing financial statement which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Section 393 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as application to the company.
-
c. These accounts have been prepared in accordance with the provisions applicable to
companies subject to small companies’ regime.
SIGNED ………. .….….……..……DIRECTOR ABOLADE AKINREMI
SIGNED ------------------------------------SECRETARY OLAWALE O. OGUNYODE
Page 6
CHRIST GLORY WORD MINISTRIES BALANCE SHEET AS AT 31ST JULY 2021
| FIXED ASSETS Tangible Assets CURRENT ASSETS Cash in Hand Cash in transit Cash at Bank Debtors Prepayment CURRENT LIABILITIES Sundry Creditors: Amounts falling due within 1 year NET CURRENT ASSETS NET ASSETS/LIABILITIES CREDITORS: Amount falling due after more than 1 year |
Notes 4 5 5 |
Unrestricted Fun | Unrestricted Fun |
|---|---|---|---|
| £ | 2021 323 0 88,833 4,648 0 93,803 25,480 |
UNRESTRICTED FUNDS
Shares Guaranteed
10
Add: Net Income/Outgoing Resources Prior Year Adjustment
125,695 -
Accumulated Funds C/F
Page 5
CHRIST GLORY WORD MINISTRIES STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST JULY 2021
| INCOME Incoming resources from donation Other incoming resources TOTAL INCOMING RESOURCES RESOURCES EXPENDED Costs of generating funds Missionary and Charitable giving Activities directly relating to the work of the church Church Management and Administrat TOTAL RESOURCES EXPENDED |
Notes 2 3 (3a) (3b) (3c) |
Unrestricted | Unrestricted | Restricted | Restricted |
|---|---|---|---|---|---|
| Funds £ 55,523 - 55,523 908 34,439 34,010 69,357 |
Funds £ 0 - - - - - - |
| NET INCOMING/(OUTGOING) RESOURCES | -13,834 | - |
|---|---|---|
| BALANCE BROUGHT FORWARD AT | ||
| ### | -3,972 | - |
| PRIOR YEAR ADJUSTMENT | - | - |
| NET MOVEMENT IN FUNDS | -17,806 | - |
| Page 7 |
CHRIST GLORY WORD MINISTRIES NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31st JULY 2021
1 ACCOUNTING POLICIES
-
a. The accounts are prepared under the historical cost convention w which are stated at market value. They comply with the requirem Recommended Practice 'Accounting Charities' ('SORP') and are in accounting standards.
-
b. General accumulated funds are unrestricted funds available to the and include funds designated by the Church for a particular purpo funds remains at the discretion of the Church's Trustees.
-
c. There is no Restricted Fund at the moment.
-
d. The governance, management and administration expenses repor of the Church's activities and a proportion of these charges are a on a basis consistent with the use of the resources.
-
e. Investments are stated at market value. It is the Church's policy such that when investments are sold there is no gain or loss arisin
-
f. Tangible assets are included at cost and depreciation is provided write off the assets over their useful lives.
| of the assets over their useful lives. | |
|---|---|
| Motor Vehicles | 20% per annu |
| Equipments | 15% per annu |
| Fixtures & Fittings | 15% per annu |
| Computers and Accessories | 15% per annu |
| Building Renovation | 10% per annu |
- g. All expenditure is accounted for on an Accrual Basis.
2 INCOMING RESOURCES
| 2 INCOMING RESOURCES |
|||
|---|---|---|---|
| Gift Aid Ofering Tithes Evangelism Building Fund Other Income (Donation) Interest Received Retreat Convention Funding TOTAL INCOMING RESOURCES |
Unrestricted | Restricted Funds £ - - - - - - - 0 |
|
| Funds £ 8,673 6,523 33,385 0 3,500 1,806 16 0 1,620 55,523 |
|||
Page 8
CHRIST GLORY WORD MINISTRIES NOTES TO THE ACCOUNTS (CONTD FOR THE YEAR ENDED 31st July 20
| Unrestricted Funds £ 3. RESOURCES EXPENDED 3a. Missionary and charitable giving: 908 908 3b. Activities directly relating Church work Church - running expenses 29,167 Church maintenance 0 Sunday School Leaders Training - Parish Magazines & Bookstall - Evangelism 668 Events (Training) 4,446 Welfare & Entertainment 158 34,439 3c. Church Management and Administration Administration 33,870 Bank Charges 140 Loan Interest 0 Arrangement Fees - Charge for year - 34,010 TOTAL RESOURCES EXPENDED 69,357 |
Unrestricted | Unrestricted | Restricted | Restricted |
|---|---|---|---|---|
| Funds £ 908 908 29,167 0 - - 668 4,446 158 34,439 33,870 140 0 - - 34,010 69,357 |
Funds £ - - - - - - - - - - - - - - - - - |
|||
| 4FIXED ASSET Ofice & Leasehold Musical Equipments Cost £ £ At 1 August 2020 15,081 Additions 42,085 16,764 Disposals 0 42,085 31,845 Depreciation At 1 August 2020 14,176 Charge for the Ye 8,417 4,777 On Disposal 8,417 18,952 NBV at 2021 33,668 12,893 NBV at 2020 0 905 |
4FIXED ASSET Ofice & Leasehold Musical Equipments Cost £ £ At 1 August 2020 15,081 Additions 42,085 16,764 Disposals 0 42,085 31,845 Depreciation At 1 August 2020 14,176 Charge for the Ye 8,417 4,777 On Disposal 8,417 18,952 NBV at 2021 33,668 12,893 NBV at 2020 0 905 |
4FIXED ASSET Ofice & Leasehold Musical Equipments Cost £ £ At 1 August 2020 15,081 Additions 42,085 16,764 Disposals 0 42,085 31,845 Depreciation At 1 August 2020 14,176 Charge for the Ye 8,417 4,777 On Disposal 8,417 18,952 NBV at 2021 33,668 12,893 NBV at 2020 0 905 |
4FIXED ASSET Ofice & Leasehold Musical Equipments Cost £ £ At 1 August 2020 15,081 Additions 42,085 16,764 Disposals 0 42,085 31,845 Depreciation At 1 August 2020 14,176 Charge for the Ye 8,417 4,777 On Disposal 8,417 18,952 NBV at 2021 33,668 12,893 NBV at 2020 0 905 |
4FIXED ASSET Ofice & Leasehold Musical Equipments Cost £ £ At 1 August 2020 15,081 Additions 42,085 16,764 Disposals 0 42,085 31,845 Depreciation At 1 August 2020 14,176 Charge for the Ye 8,417 4,777 On Disposal 8,417 18,952 NBV at 2021 33,668 12,893 NBV at 2020 0 905 |
Motor Vehicle £ 48,788 0 |
Building Renovation £ 3,450 15,018 0 |
Building Renovation £ 3,450 15,018 0 |
|---|---|---|---|---|---|---|---|
| 42,085 | 31,845 |
48,788 | 18,468 | ||||
| 14,176 4,777 |
39,030 9,758 |
3,220 1,847 |
|||||
| 8,417 | 18,952 |
48,788 | 5,067 | ||||
| 33,668 | 12,893 905 |
0 9,758 |
13,401 230 |
||||
| 0 |
Page 9
CHRIST GLORY WORD MINISTRIES NOTES TO THE ACCOUNTS (CONTD) FOR THE YEAR ENDED 31st July 2021
| £ | |
|---|---|
| CREDITORS AND ACCRUALS | |
| Accountancy and Bookkeeping | 480 |
| Motor Vechicle | 7,794 |
| Soft Loan | 25,000 |
| £ | |
| DEBTORS | |
| Gift Aid | 4,648 |
5 CREDITORS AND ACCRUALS
6 DEBTORS
7 CLERGY ALLOWANCE
No employee received remuneration amounting to more tha
8 FUNDS
Unrestricted funds comprise those funds which the trustees are fr the charitable objectives.
This is an incorporated charity, constituted by trust deed. It's prin the word and preaching the Gospel of Christ and the life after life and educational needs of the community. It has unrestricted fund accordance with SORP and with applicable accounting standards.
9 Leases
Payments made under operating leases (net of any incentives rece to the Statement of Comprehensive Income on a straight-line basi
Page 10
nds Unrestricted Funds 2020
| £ | £ £ 65,176 97 0 138,593 0 455 139,144 480 68,323 133,499 7,794 125,705 |
12,295 138,664 150,959 11,421 139,538 |
12,295 138,664 |
|---|---|---|---|
10
139,528 -
125,705
139,538
EndowmentTotal Funds
| Funds £ 0 - - - - - - |
2021 £ 55,523 - 55,523 908 34,439 34,010 69,357 |
2020 £ 55,073 - 55,073 |
|---|---|---|
| 0 42,602 16,442 59,045 |
- -13,834 -3,972 - -3,972 - - - - -17,806 -3,972
with the exception of investments ments of Statement of n accordance with applicable
e church for its general purposes ose; the use of such designated
rted in note 3 relate to the whole allocated to expenditure headings
to keep valuations up to date ng to previous years.
on a straight line basis, in order to
m on a straight line basis m on a straight line basis m on a straight line basis m on a straight line basis m on a straight line basis
EndowmentTotal FundsTotal Funds
| Funds £ - - - - - - - 0 |
2021 £ 8,673 6,523 33,385 0 3,500 1,806 16 0 1,620 |
2020 £ 11,872 14,752 23,553 0 1,400 0 143 3,353 0 |
|
|---|---|---|---|
| 55,523 | 55,073 |
S D) 021
| Endowment Total Funds Funds 2021 £ £ - 908 - 908 - 29,167 - 0 - - - - - 668 - 4,446 - 158 - 34,439 - 33,870 - 140 - 0 - - - - - 34,010 - 69,357 |
Endowment Total Funds Funds 2021 £ £ - 908 - 908 - 29,167 - 0 - - - - - 668 - 4,446 - 158 - 34,439 - 33,870 - 140 - 0 - - - - - 34,010 - 69,357 |
2020 £ 0 0 29,668 0 0 0 0 7,574 5,360 42,602 16,442 - 0 - - 16,442 59,045 |
2020 £ 0 0 29,668 0 0 0 0 7,574 5,360 42,602 16,442 - 0 - - 16,442 59,045 |
|---|---|---|---|
| Funds £ - - - - - - - - - - - - - - - - - |
|||
| 16,442 - 0 - - 16,442 |
|||
| 59,045 |
| Computer & Fixtures & Accessories Fittings Total £ £ £ 3,522 9,896 80,737 0 6,853 80,720 0 0 0 |
Computer & Fixtures & Accessories Fittings Total £ £ £ 3,522 9,896 80,737 0 6,853 80,720 0 0 0 |
Computer & Fixtures & Accessories Fittings Total £ £ £ 3,522 9,896 80,737 0 6,853 80,720 0 0 0 |
Computer & Fixtures & Accessories Fittings Total £ £ £ 3,522 9,896 80,737 0 6,853 80,720 0 0 0 |
Computer & Fixtures & Accessories Fittings Total £ £ £ 3,522 9,896 80,737 0 6,853 80,720 0 0 0 |
|---|---|---|---|---|
| 3,522 | 16,749 161,457 |
|||
| 2,770 528 |
9,246 2,512 |
68,442 27,839 |
||
| 3,298 | 11,758 | 96,281 | ||
| 223 752 |
4,991 650 |
65,176 12,295 |
||
| 2021 £ £ 480 21,995 33,274 2021 £ £ 4,648 |
2021 £ £ 480 21,995 33,274 2021 £ £ 4,648 |
2020 £ |
|
|---|---|---|---|
| 22,475 | |||
| 2020 £ |
|||
| - |
an £50,000 in the year.
ree to use in accordance with
ncipal objective is spreading e and to contribute to the health ds. It prepares its accounts in
.
eived from the lessor) are charged is over the period of the lease.
CHRIST GLORY WORD MINISTRIES FINANCIAL STATEMENT FOR THE PERIOD ENDED 31 JULY 2021
| CONTENTS | |
|---|---|
| PAGES | |
| 1.COMPANY INFORMATION | 1 |
| 3. ACCOUNTANTS REPORT | |
| 2 | |
| 4. STATEMENT OF DIRECTORS’ REPORT | |
| 3-4 | |
| 5. ACCOUNTANT’S REPORT | 4-5 |
| 6. BALANCE SHEET | 5-6 |
| 7. SUMMARIZED & DETAILED INCOME & EXPENDITURES | |
| 7-8 | |
| 8. NOTES TO THE FINANCIAL STATEMENT | 9-10 |
CHRIST GLORY WORD MINISTRIES FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 JULY 2021
INCORPORATION NUMBER:
08604938
STATUS: GUARANTEE
PRIVATE COMPANY LIMITED BY
DIRECTORS:
ABOLADE AKINREMI
SECRETARY:
OLAWALE OLUSOLA OGUNYODE
REGISTERED OFFICE:
21 HOLST AVENUE BASILDON ESSEX SS15 5RD
ACCOUNTANTS:
Colinson and Company Ltd Accountants and Tax Consultants
Regent 88, Unit 3 201 Church Road London, E10 7JQ
Page I
REPORT OF THE ACCOUNTANTS TO MEMBERS OF CHRIST GLORY WORD MINISTRIES FOR THE PERIOD ENDED 31 JULY 2021
We have examined the accounts for the period 31 July 2021.
Respective Responsibilities of Directors and Reporting Accountants
As described on page 4 the company’s directors are responsible for the preparation of accounts. It is our responsibility to examine the accounts and based on our examination to report our opinion, as set out below, to the shareholders.
Basis of Opinion
We conducted our opinion in accordance with the appropriate standards for reporting accounts issued by the Auditing Practices Board. This examination consisted of comparing the accounts with the accounting records kept by the company and making such limited enquiries of the officers of the company, as we considered necessary for the purposes of this report.
Opinion
In our opinion:-
-
(a) The accounts are in agreement with the accounting records kept by the company under S386 of the Companies Act 2006.
-
(b) Having regards only to, and on the basis of, the information contained in those accounting records:
-
(i) The accounts have been drawn up in a manner consistent with the accounting requirements specified in S393 of the Act: and
-
(ii) The company satisfied the conditions for exemption from audit of the accounts for the period specified in S477 of the Act and did not, at any time within that period, fall within any of the categories companies not entitled to the exemption specified in S478 of the Companies Act 2006.
COLINSON AND COMPANY LTD. ACCOUNTANTS AND TAX CONSULTANTS
REGENT 88, UNIT 3 210 CHURCH ROAD LEYTON LONDON E10 7JQ
DATE ..............................…............
Page 2
CHRIST GLORY WORD MINISTRIES DIRECTOR’S REPORT FOR THE PERIOD ENDED 31 JULY 2021
The Director presents his report and financial statements for the year period 31 July 2021.
OBJECTIVES AND ACTIVITIES
Our principal activity is the liberation of lost souls by the word of God and raising great nations through the teaching of Jesus Christ. In addition, the charity helps in the relief of poverty in all parts of the world; directly to our immediate members, their families, members of local and international communities as occasion demands, in cash and in kind.
DIRECTORS’ RESPONSIBILITIES
Company law requires the directors to prepare accounts for each financial year, which gives a true and fair view of the state of affairs of the company and the profit or loss of the company of that period. In preparing those accounts, the directors are required to:
-
select suitable accounting policies and then apply them consistently
-
make judgements and estimates that are reasonable and prudent
-
follow applicable accounting standards, subject to any material departures disclosed and explained in the accounts
-
prepare the accounts on the going concern basis unless it is inappropriate to presume that the company will continue in business
The directors are responsible for keeping proper account records which, disclosed with reasonable accuracy at any time, the financial position of the company and to enable them to ensure that the accounts comply with the Companies Act. 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Page 3
CHRIST GLORY WORD MINISTRIES DIRECTOR’S REPORT CONTINUED FOR THE PERIOD ENDED 31 JULY 2021
Colinson and Company Ltd, Accountants and Tax Consultants have indicated their willingness to continue to act for the company. Accordingly a resolution will be proposed at the forthcoming Annual General Meeting.
Basis of Preparation
In preparing the above report, the directors have taken advantage of special exemptions applicable to small companies under S477 of the Companies Act. 2006.
SIGNED ON BEHALF OF THE BOARD
………………………….…………………. DIRECTOR
ABOLADE AKINREMI
…………………………………………….. SECRETARY OLAWALE O. OGUNYODE
APPROVED BY THE BOARD
DATED THIS ……………………..
DAY OF ……..……………….. 20…
Page 4
CHRIST GLORY WORD MINISTIRES BALANCE SHEET AS AT 31 JULY 2021 (CONTD)
The directors have taken the advantage of the Companies Act 2006 in not having these Accounts audited Under Section 477.
The members have not required the company to obtain an audit of its financial statements for the period ended 31 July 2015 in accordance with Section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for:
-
a. Ensuring that the company keeps accounting records which comply with Section 386 of the Companies Act 2006 and
-
b. Preparing financial statement which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Section 393 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as application to the company.
-
c. These accounts have been prepared in accordance with the provisions applicable to
companies subject to small companies’ regime.
SIGNED ………. .….….……..……DIRECTOR ABOLADE AKINREMI
SIGNED ------------------------------------SECRETARY OLAWALE O. OGUNYODE
Page 6