CHRIST GLORY WORD MINISTRIES FINANCIAL STATEMENT FOR THE PERIOD ENDED 31 JULY 2025
| 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 |
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CHRIST GLORY WORD MINISTRIES FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 JULY 2025
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 2025
We have examined the accounts for the period 31 July 2025.
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: -
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(a) The accounts are in agreement with the accounting records kept by the company under S386 of the Companies Act 2006.
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(b) Having regards only to, and on the basis of, the information contained in those accounting records:
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(i) The accounts have been drawn up in a manner consistent with the accounting requirements specified in S393 of the Act: and
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(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 2025
The Director presents his report and financial statements for the year period 31 July 2025.
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:
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select suitable accounting policies and then apply them consistently
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make judgements and estimates that are reasonable and prudent
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follow applicable accounting standards, subject to any material departures disclosed and explained in the accounts
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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.
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CHRIST GLORY WORD MINISTRIES DIRECTOR’S REPORT CONTINUED FOR THE PERIOD ENDED 31 JULY 2025
Colinson & Co, 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 …………………….. Page 4
DAY OF ……..……………….. 20…
CHRIST GLORY WORD MINISTIRES BALANCE SHEET AS AT 31 JULY 2025 (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 2025 in accordance with Section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for:
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a. Ensuring that the company keeps accounting records which comply with Section 386 of the Companies Act 2006 and
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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.
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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
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CHRIST GLORY WORD MINISTRIES BALANCE SHEET AS AT 31ST JULY 2025
| 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 |
Unrestricted Funds 2025 £ £ 0 0 134,814 11,380 0 146,194 1,200 10 150,998 - |
Unrestricted Funds 2024 £ £ 6,014 0 0 124,610 9,072 0 133,682 600 144,994 151,008 0 151,008 10 144,568 - 151,008 |
11,496 133,082 |
|---|---|---|---|
| 144,578 0 144,578 |
|||
| 144,578 |
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CHRIST GLORY WORD MINISTRIES STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST JULY 2025
| Unrestricted Notes Funds £ INCOME Incoming resources from donation 2 89,013 Other incoming resources - TOTAL INCOMING RESOURCES 89,013 RESOURCES EXPENDED 3 Costs of generating funds Missionary and Charitable giving (3a) 230 Activities directly relating to the work of the church (3b) 72,354 Church Management and Administra (3c) 9,999 TOTAL RESOURCES EXPENDED 82,583 NET INCOMING/(OUTGOING) RESOURC 6,430 BALANCE BROUGHT FORWARD AT ######## 3,451 PRIOR YEAR ADJUSTMENT - NET MOVEMENT IN FUNDS 9,881 |
Restricted Funds £ 0 - - - - - - - - - - |
Endowment Funds £ 0 - - - - - - - - - - |
Total Funds 2025 2024 £ £ 89,013 93,154 - - 89,013 93,154 230 2,229 72,354 59,696 9,999 27,778 82,583 89,703 6,430 3,451 3,451 140,257 - - 9,881 143,708 |
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CHRIST GLORY WORD MINISTRIES NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31st JULY 2025
1 ACCOUNTING POLICIES
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a. The accounts are prepared under the historical cost convention with the exception of investments which are stated at market value. They comply with the requirements of Statement of Recommended Practice 'Accounting Charities' ('SORP') and are in accordance with applicable accounting standards.
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b. General accumulated funds are unrestricted funds available to the church for its general purposes and include funds designated by the Church for a particular purpose; the use of such designated funds remains at the discretion of the Church's Trustees.
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c. There is no Restricted Fund at the moment.
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d. The governance, management and administration expenses reported in note 3 relate to the whole of the Church's activities and a proportion of these charges are allocated to expenditure headings on a basis consistent with the use of the resources.
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e. Investments are stated at market value. It is the Church's policy to keep valuations up to date such that when investments are sold there is no gain or loss arising to previous years.
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f. Tangible assets are included at cost and depreciation is provided on a straight line basis, in order to write off the assets over their useful lives.
Motor Vehicles 20% per annum on a straight line basis Equipments 15% per annum on a straight line basis Fixtures & Fittings 15% per annum on a straight line basis Computers and Accessories 15% per annum on a straight line basis Building Renovation 10% per annum on a straight line basis Leasehold 25% per annum on a straight line basis
- g. All expenditure is accounted for on an Accrual Basis.
2 INCOMING RESOURCES
| 2 INCOMING RESOURCES |
||||
|---|---|---|---|---|
| Gift Aid Offering Tithes Evangelism Building Fund Rental Income Other Income (Donation) Interest Received Event(s) TOTAL INCOMING RESOURCES |
Unrestricted Funds £ 16,385 10,192 45,733 0 490 0 2,210 1,579 12,425 89,013 |
Restricted Funds £ - - - - - - 0 |
Endowment | |
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CHRIST GLORY WORD MINISTRIES NOTES TO THE ACCOUNTS (CONTD) FOR THE YEAR ENDED 31st July 2025
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Unrestricted Restricted Endowment Total Funds
Funds Funds Funds 2025 2024
£ £ £ £ £
3. RESOURCES EXPENDED
3a. Missionary and charitable giving: 230 - - 230 2,229
230 - - 230 2,229
3b. Activities directly relating Church work
- -
Church - running expenses 44,736 44,736 40,903
Church maintenance 668 - - 668 833
Sunday School Leaders Training - - - - 0
Parish Magazines & Bookstall - - - - 0
Evangelism 1,390 - - 1,390 190
Events 14,269 - - 14,269 12,570
Welfare 11,291 - - 11,291 5,200
- -
72,354 72,354 59,696
3c. Church Management and Administration
Administration 9,471 - - 9,471 27,270
Bank Charges 528 - - 528 508
Loan Interest 0 - - 0 0
- - - - -
Arrangement Fees
- - - - -
Charge for year
- -
9,999 9,999 27,778
TOTAL RESOURCES EXPEND 82,583 - - 82,583 89,703
4 FIXED ASSET Office &
Leasehold Musical Motor Building Computer & Fixtures &
Equipment Vehicle Renovation Accessories Fittings Total
Cost £ £ £ £ £ £ £
At 1 Augus 42,085 39,129 48,788 18,468 4,096 21,417 173,983
Additions 0 0 0 0 0 0
Disposals 0 0 0 0 0
42,085 39,129 48,788 18,468 4,096 21,417 173,983
Depreciation
At 1 Augus 42,085 35,869 48,788 10,607 5,142 19,995 162,487
Charge for 0 3,259 0 1,847 -1,045 1,421 5,482
On Disposal
42,085 39,129 48,788 12,454 4,096 21,417 167,969
NBV at 20 0 0 0 6,014 0 0 6,014
NBV at 20 0 3,259 0 7,861 -1,045 1,421 11,496
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CHRIST GLORY WORD MINISTRIES NOTES TO THE ACCOUNTS (CONTD) FOR THE YEAR ENDED 31st July 2025
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2025 2024
£ £ £ £
CREDITORS AND ACCRUALS
Accountancy and Bookkeeping 1,200 600
Motor Vechicle - -
Soft Loan - -
1,200 600
2024 2023
£ £ £ £
DEBTORS
Gift Aid 11380 9,072
11,380 9,072
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5 CREDITORS AND ACCRUALS
6 DEBTORS
7 CLERGY ALLOWANCE
No employee received remuneration amounting to more than £50,000 in the year.
8 FUNDS
Unrestricted funds comprise those funds which the trustees are free to use in accordance with the charitable objectives.
This is an incorporated charity, constituted by trust deed. It's principal objective is spreading the word and preaching the Gospel of Christ and the life after life and to contribute to the health and educational needs of the community. It has unrestricted funds. It prepares its accounts in accordance with SORP and with applicable accounting standards.
9 Leases
Payments made under operating leases (net of any incentives received from the lessor) are charged to the Statement of Comprehensive Income on a straight-line basis over the period of the lease.
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