**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**|
**i**
## **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: -
- (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 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:
- 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 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:
- 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 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**|
**Page 5**
## **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**|
|---|---|---|---|
|||||
**Page 7**
**CHRIST GLORY WORD MINISTRIES NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31st JULY 2025**
## **1 ACCOUNTING POLICIES**
- 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.
- 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.
- c. There is no Restricted Fund at the moment.
- 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.
- 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.
- 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**|
||||||
**Page 8**
## **CHRIST GLORY WORD MINISTRIES NOTES TO THE ACCOUNTS (CONTD) FOR THE YEAR ENDED 31st July 2025**
**----- Start of picture text -----**
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
**----- End of picture text -----**
**Page 9**
## **CHRIST GLORY WORD MINISTRIES NOTES TO THE ACCOUNTS (CONTD) FOR THE YEAR ENDED 31st July 2025**
**----- Start of picture text -----**
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
**----- End of picture text -----**
## **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.
**Page 10**