2023-01-31-accounts

COME GLOBAL GOSPEL MINISTRIES

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31[st] January 2023

CHARITY NUMBER: 1167012

COME GLOBAL GOSPEL MINISTRIES 138 CANAL WALK CROYDON CR0 6BZ

INDEX Page Index 1 Trustee’s Report 2 - 3 Receipts and Payments Account 4 Statement of Assets and Liabilities 5 Notes on the financial Statements 6

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COME GLOBAL GOSPEL MINISTRIES

TRUSTEES’ REPORT YEAR ENDED 31[st] JANUARY 2023

The trustees are pleased to present their report for the year ended 31[ST] January 2023 for the charity, Come Global Gospel Ministries with charity number 1167012.

The Trustees of the charity are:

Pastor Chimezie Okonkwo Ms Malgorzata Gajdek Mr Obinna Okolie

The principal address of the charity is : 138 Canal Walk Croydon CR0 6BZ

STRUCTURE, GOVERNANCE AND MANAGEMENT

The Charity governing document is a CIO – Foundation Constitution registered 10[TH] May 2016.The Charity is governed by a board on which the trustees are represented. It meets regularly to review, plan activities and monitor the financial position.

OBJECTIVES AND ACTIVITIES

The Objects of the organisation are first to advance the Christian faith in accordance with the statement of beliefs for the benefit in the United Kingdom and in such other parts of the world as the trustees may think fit from time to time . The trustees confirm that they have had due regard to the guidance issued by the Charity Commission on public benefit before deciding what activities the charity should undertake.

ACHIEVMENTS AND PERFORMANCE

The Organisation held successful meetings through the year in which individuals were equipped and educated on the principles and doctrines of the Christian faith. The organisation held several worship services online during the year through hosting Christian television progrmmes. This has produced good results in reaching and helping members of the community. The organisation also airs its sermons on the Faith Christian television that airs all over the country.

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FINANCIAL REVIEW

The income of the charity is above £5,500. Though this is a small amount for the year the costs have been well managed over this period. The organisation is still in a good position to manage its costs. The main cost of the organisation was paying for the television programmes that the organisation hosted through the year.

PLANS FOR THE FUTURE

The church intends to continue to host its regular television programmes on Faith TV. The intended re-appointment of our present independent examiner at the upcoming trustee meeting is expected to support the financial operations by making it more effective.

RESERVE POLICY

It is the policy of the Charity to maintain unrestricted funds, which are the reserves of the charity at about 3 months of unrestricted expenditure .This provides sufficient funds to cover any emergency expenditures that may arise from time to time. The charity will seek to maintain this level throughout the year.

RISK MANAGEMENT

The charity have assessed all the major risks to which the charity is exposed to, in particular those related to operations and finances of the charity, and are satisfied that systems are in place to mitigate exposure to major risks.

TRUSTEE RESPONSIBILITIES

Under the Charities Act 2011,the trustees are required to prepare a statement of accounts for each accounting year which gives a true and fair view of the state of the church. They are required to:

1. Select suitable accounting policies and apply them consistently.

2. Make judgements and estimates that are reasonable and prudent.

3. State whether the applicable accounting standards have been followed.

4. Prepare financial statements on an ongoing basis.

They are responsible for keeping proper records which disclose with reasonable accuracy the finances of the church at any time and to ensure that such accounts comply with the Charities Act 2011.They also have a responsibility to safeguard the assets of the church and to take reasonable steps to detect fraud or other irregularities.

Approved by the Trustees on 10[th] February 2023 and signed on their behalf by:

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	COME GLOBAL GOSPEL MINISTRIES
	ACCOUNTS FOR THE YEAR ENDED 31st January 2023
**1 **	Receipts & Payments Account(General				Purpose Fund)
	Income Receipts				£/2023	£/2022
	Tithes and Offerings				5563	3806
	Interest				0	0
	Total Receipts				5563	3806
	Direct Charitable Expenditure
	Television programmes				5385	3910
	Donation				0	0
	Hire of Hall				0	0
	Transport				0	0
	Website hosting				0	0
	Accounting services				180	90
	Bank charges				0	8
					5565	4008
	Other Expenditure
	Equipment				0	0
	Instruments				0	0
					0	0
	Total Payments				5565	4008
	Net Receipts/(Payments) for theyear				-2	-202
	Cash Funds brought forward				-3226	-3226
	Loan Received				475
	Cash Funds at the end of theyear				-2753	-3428

	COME GLOBAL GOSPEL MINISTRIES
**2 **	Statements of Assets and Liabilities at 31st January 2023
	Monetary Assets
	Cash Funds				Unrestricted Funds
					£/2023	£/2022
					£	£
	Cash at hand and in bank				1	3
	Total Cash Funds				1	3
	Assets Retained for the
	Charity's Own use
	Non-monetary Assets and Liabilities
	Musical Instruments				120	120
	Equipments				150	150
					270	270
	Liabilities
	Bookkeeping				90	90
	Loan from pastor				3724	3249
	These accounts were approved by the trustees and signed on their behalf by
	Pastor Chimezie Okonkwo
	____________

These accounts were approved by the trustees and signed on their behalf by

COME GLOBAL GOSPEL MINISTRIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st January 2023 ACCOUNTING POLICIES Basis of Accounting These accounts have been prepared on the receipts and payments basis with all - revenue and expenses shown on a cash basis. Non monetary assets are shown at estimates of the value at the end of the year. Funds The CIO has a general unrestricted fund that receives voluntary donations from attendants at the services. The CIO has no outstanding guarantees to third parties no any debts secured on the asstes of the CIO Public Benefit The charity acknowledges its requirement to demonstrate clearly that it must have charitable purposes or aims that are for public benefit.Details of how this is achieved are provided in the Trustees report. The trustees confirm that they have paid due regard to the Charity Commission guidance on public benefit before deciding what activities the charity should undertake.

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