## **CHRIST GLORY WORD MINISTRIES FINANCIAL STATEMENT FOR THE PERIOD ENDED 31 JULY 2023**
|**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**|
|**i**||
## **CHRIST GLORY WORD MINISTRIES FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 JULY 2023**
**INCORPORATION NUMBER:**
08604938
**STATUS:** PRIVATE COMPANY LIMITED BY GUARANTEE **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 1**
## **REPORT OF THE ACCOUNTANTS TO MEMBERS OF CHRIST GLORY WORD MINISTRIES FOR THE PERIOD ENDED 31 JULY 2023**
We have examined the accounts for the period 31 July 2023.
## **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 & 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 2023**
The Director presents his report and financial statements for the year period 31 July 2023.
## **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 2023**
Colinson & 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…**
**----- Start of picture text -----**
Page 4
**----- End of picture text -----**
## **CHRIST GLORY WORD MINISTIRES BALANCE SHEET AS AT 31 JULY 2023 (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 2023**
## **FIXED ASSETS**
**FIXED ASSETS Notes** Tangible Assets **4**
## **CURRENT ASSETS**
Cash in Hand Cash in transit Cash at Bank Debtors Prepayment
## **CURRENT LIABILITIES**
Sundry Creditors: Amounts falling due within 1 year **5**
## **NET CURRENT ASSETS**
## **NET ASSETS/LIABILITIES**
**CREDITORS:**
Amount falling due after more than 1 year **5**
## **UNRESTRICTED FUNDS**
Shares Guaranteed Add: Net Income/Outgoing Resources Prior Year Adjustment
Accumulated Funds C/F
## **CHRIST GLORY WORD MINISTRIES STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST JULY 2023**
|**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 Administration
**TOTAL RESOURCES EXPENDED**|**Notes**
**2**
**3**
**(3a)**
**(3b)**
**(3c)**|**Unrestricted**|**Unrestricted**|
|---|---|---|---|
||||**Funds**
**£**
87,322
-
**87,322**
2,125
55,091
27,544
**84,759**|
|**NET INCOMING/(OUTGOING) RESOURCES**|**2,562**|
|---|---|
|**BALANCE BROUGHT FORWARD AT**||
|**8/1/2022**|**2,562**|
|**PRIOR YEAR ADJUSTMENT**|-|
|**NET MOVEMENT IN FUNDS**|**140,267**|
||**Page 7**|
## **CHRIST GLORY WORD MINISTRIES NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31st JULY 2023**
## **1 ACCOUNTING POLICIES**
- a. The accounts are prepared under the historical cost convention with the excepti which are stated at market value. They comply with the requirements of Statem Recommended Practice 'Accounting Charities' ('SORP') and are in accordance accounting standards.
- b. General accumulated funds are unrestricted funds available to the church for its and include funds designated by the Church for a particular purpose; the use of 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 reported in note 3 r of the Church's activities and a proportion of these charges are allocated to exp on a basis consistent with the use of the resources.
- e. Investments are stated at market value. It is the Church's policy to keep valuat such that when investments are sold there is no gain or loss arising to previous
- f. Tangible assets are included at cost and depreciation is provided on a straight li write off the assets over their useful lives.
Motor Vehicles Equipments Fixtures & Fittings Computers and Accessories Building Renovation Leasehold
- g. All expenditure is accounted for on an Accrual Basis.
## **2 INCOMING RESOURCES**
|Gift Aid
Offering
Tithes
Evangelism
Building Fund
Rental Income
Other Income (Donation)
Interest Received
Event(s)
**TOTAL INCOMING RESOURCES**||**Unrestricted**
**Funds**
**£**
13,551
6,692
56,307
0
1,026
1,080
1,108
346
7,211|**Unrestricted**
**Funds**
**£**
13,551
6,692
56,307
0
1,026
1,080
1,108
346
7,211|
|---|---|---|---|
|||||
||||**87,322**|
**Page 8**
**CHRIST GLORY WORD MINISTR NOTES TO THE ACCOUNTS (CON FOR THE YEAR ENDED 31st July 2**
|**3. RESOURCES EXPENDED**
3a.
Missionary and charitable giving:
3b.
Activities directly relating Church work|**Unrestricted**
**Funds**
**£**
2,125
**2,125**|**Unrestricted**
**Funds**
**£**
2,125
**2,125**|**Unrestricted**
**Funds**
**£**
2,125
**2,125**|
|---|---|---|---|
|||**Funds**||
|||**£**||
||||**2,125**|
|||||
3c.
|Church - running expenses
Church maintenance
Sunday School Leaders Training
Parish Magazines & Bookstall
Evangelism
Events
Welfare
Church Management and Administration
Administration
Bank Charges
Loan Interest
Arrangement Fees
-
Charge for year
-
**TOTAL RESOURCES EXPENDED**|37,867
516
-
-
0
13,907
2,800
**55,091**|
|---|---|
||26,727
816
0
**27,544**|
||**84,759**|
|**4FIXED ASSET**
**Cost**
At 1 August 2022
Additions
Disposals
**Depreciation**
At 1 August 2022
Charge for the Year
On Disposal
**NBV at 2023**
**NBV at 2022**||**Leasehold**
**£**
**42,085**|**Leasehold**
**£**
**42,085**|**Office &**
**Musical**
**Equipments**
**£**
**34,522**
**4,607**
**0**|**Office &**
**Musical**
**Equipments**
**£**
**34,522**
**4,607**
**0**|**Motor**
**Vehicle**
**£**
**48,788**
**0**|
|---|---|---|---|---|---|---|
||||||||
||||||||
||||**42,085**||**39,129**|**48,788**|
||||**19,640**
**11,223**||**24,131**
**5,869**|**48,788**
**0**|
||||**30,863**||**30,000**|**48,788**|
||||**11,223**
**22,445**||**9,129**
**10,391**|**0**
**0**|
**Page 9**
**CHRIST GLORY WORD MINISTRIES NOTES TO THE ACCOUNTS (CONTD) FOR THE YEAR ENDED 31st July 2023**
## **5 CREDITORS AND ACCRUALS**
Accountancy and Bookkeeping
Motor Vechicle Soft Loan
## **6 DEBTORS**
Gift Aid
## **7 CLERGY ALLOWANCE**
## **No employee received remuneration amounting to more than £50,000 in th**
## **8 FUNDS**
Unrestricted funds comprise those funds which the trustees are free to use in ac the charitable objectives.
This is an incorporated charity, constituted by trust deed. It's principal objectiv the word and preaching the Gospel of Christ and the life after life and to contrib and educational needs of the community. It has unrestricted funds. It prepares accordance with SORP and with applicable accounting standards.
## 9 **Leases**
Payments made under operating leases (net of any incentives received from the to the Statement of Comprehensive Income on a straight-line basis over the per
**Page 10**
|**Unrestricted Funds**
**2023**
**£**
**£**
772
0
100,940
8,661
1,500
111,873
1,200|**Unrestricted Funds**
**2022**
**£**
**£**
29,594
529
0
80,461
8,503
1,759
91,253
600
110,673
140,267
0
**140,267**|47,052
90,653
137,705
0
**137,705**|47,052
90,653|
|---|---|---|---|
10 10 140,257 137,695 - - **140,267 137,705**
## **Page 5**
|**Restricted**
**Funds**
**£**
0
-
**-**
-
-
-
**-**|**Endowment**
**Funds**
**£**
0
-
**-**
-
-
-
**-**|**Total Funds**
**2023**
**£**
87,322
-
**87,322**
2,125
55,091
27,544
**84,759**|**2022**
**£**
83,149
-
**83,149**|
|---|---|---|---|
|||||
||||856
43,619
26,674|
||||**71,149**|
|-|-|**2,562**|**12,000**|
|---|---|---|---|
|-|-|**137,705**|**125,704**|
|-|-|-|-|
|-|-|**140,267**|**137,705**|
ion of investments ment of with applicable
s general purposes f such designated
elate to the whole penditure headings
tions up to date years.
ine basis, in order to
20% per annum on a straight line basis 15% per annum on a straight line basis 15% per annum on a straight line basis 15% per annum on a straight line basis 10% per annum on a straight line basis 25% per annum on a straight line basis
|**Restricted**
**Funds**
**£**
-
-
-
-
-
-
**0**|**Endowment**
**Funds**
**£**
-
-
-
-
-
-|**0**||**Total Funds**
**Total**
**2023**
**£**
13,551
6,692
56,307
0
1,026
1,080
1,108
346
7,211|**Total Funds**
**Total**
**2023**
**£**
13,551
6,692
56,307
0
1,026
1,080
1,108
346
7,211|**Total**|**Funds**
2022
**£**
11,939
4,524
55,094
0
0
3,100
1,644
9
6,840|
|---|---|---|---|---|---|---|---|
|||||||||
||||||**87,322**||**83,149**|
**RIES NTD) 2023**
|**Restricted**
**Funds**
**£**
-
-|**Endowment**
**Funds**
**£**
-
-|**Total Funds**
**2023**
**£**
2,125
**2,125**|**Total Funds**
**2023**
**£**
2,125
**2,125**|**2022**
**£**
856
**856**|
|---|---|---|---|---|
||||**2023**
**£**||
|-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-|37,867
516
-
-
0
13,907
2,800
**55,091**
26,727
816
0
-
-
**27,544**
**84,759**|30,991
0
0
0
0
8,478
4,150
**43,619**|
|---|---|---|
|||25,918
756
0
**26,674**|
|||**71,149**|
||**Building**
**Computer &**
**Fixtures &**
**Renovation**
**Accessories**
**Fittings**
**Total**
**£**
**£**
**£**
**£**
**18,468**
**4,096**
**16,749**
**164,708**
**0**
**0**
**0**
**4,607**
**0**
**0**
**0**
**0**|**Building**
**Computer &**
**Fixtures &**
**Renovation**
**Accessories**
**Fittings**
**Total**
**£**
**£**
**£**
**£**
**18,468**
**4,096**
**16,749**
**164,708**
**0**
**0**
**0**
**4,607**
**0**
**0**
**0**
**0**|**Building**
**Computer &**
**Fixtures &**
**Renovation**
**Accessories**
**Fittings**
**Total**
**£**
**£**
**£**
**£**
**18,468**
**4,096**
**16,749**
**164,708**
**0**
**0**
**0**
**4,607**
**0**
**0**
**0**
**0**|**Building**
**Computer &**
**Fixtures &**
**Renovation**
**Accessories**
**Fittings**
**Total**
**£**
**£**
**£**
**£**
**18,468**
**4,096**
**16,749**
**164,708**
**0**
**0**
**0**
**4,607**
**0**
**0**
**0**
**0**|**Building**
**Computer &**
**Fixtures &**
**Renovation**
**Accessories**
**Fittings**
**Total**
**£**
**£**
**£**
**£**
**18,468**
**4,096**
**16,749**
**164,708**
**0**
**0**
**0**
**4,607**
**0**
**0**
**0**
**0**|**Building**
**Computer &**
**Fixtures &**
**Renovation**
**Accessories**
**Fittings**
**Total**
**£**
**£**
**£**
**£**
**18,468**
**4,096**
**16,749**
**164,708**
**0**
**0**
**0**
**4,607**
**0**
**0**
**0**
**0**|**Building**
**Computer &**
**Fixtures &**
**Renovation**
**Accessories**
**Fittings**
**Total**
**£**
**£**
**£**
**£**
**18,468**
**4,096**
**16,749**
**164,708**
**0**
**0**
**0**
**4,607**
**0**
**0**
**0**
**0**|
|---|---|---|---|---|---|---|---|
|||||||||
|||**18,468**|**4,096**||**16,749**
**169,315**|||
|||**6,914**
**1,847**|**3,913**
**614**||**14,271**
**117,656**
**2,512**
**22,066**|||
|||**8,760**|**4,527**||**16,783**
**139,721**|||
|||**9,707**
**11,554**||**-431**
**184**||**-34**
**2,478**|**29,594**
**47,052**|
**2023**
**2022**
**£**
**£ £**
**£**
**----- Start of picture text -----**
1,200 600
- -
- -
1,200 600
2023 2022
£ £ £ £
8,662 8,503
8,662 8,503
**----- End of picture text -----**
## **he year.**
ccordance with
ve is spreading bute to the health s its accounts in
e lessor) are charged riod of the lease.
## **CHRIST GLORY WORD MINISTRIES FINANCIAL STATEMENT FOR THE PERIOD ENDED 31 JULY 2023**
|**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**|
|**i**||
## **CHRIST GLORY WORD MINISTRIES FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 JULY 2023**
**INCORPORATION NUMBER:**
08604938
**STATUS:** PRIVATE COMPANY LIMITED BY GUARANTEE **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 1**
## **REPORT OF THE ACCOUNTANTS TO MEMBERS OF CHRIST GLORY WORD MINISTRIES FOR THE PERIOD ENDED 31 JULY 2023**
We have examined the accounts for the period 31 July 2023.
## **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 & 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 2023**
The Director presents his report and financial statements for the year period 31 July 2023.
## **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 2023**
Colinson & 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…**
**----- Start of picture text -----**
Page 4
**----- End of picture text -----**
## **CHRIST GLORY WORD MINISTIRES BALANCE SHEET AS AT 31 JULY 2023 (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