INTERNATIONAL GOSPEL COMMUNITY
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31[ST ] JULY 2024
CHARITY NUMBER: 1169284
- INTERNATIONAL GOSPEL COMMUNITY UNIT 3, 145 159 ELTHAM HIGH STREET LONDON SE9 1TW
| INDEX | |
|---|---|
| Page | |
| Index | 1 |
| Trustee’s Report | 2 – 3 |
| Independent Examiner’s Statement | 4 |
| Receipts and Payments Account | 5 |
| Statement of Assets and Liabilities | 6 |
| Notes on the financial Statements |
7 |
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INTERNATIONAL GOSPEL COMMUNITY
TRUSTEES’ REPORT YEAR ENDED 31 JULY 2024
The trustees are pleased to present their report for the year ended 31 July 2024 for the charity, International Gospel Community, with charity number 1169284.
The Trustees of the charity are: Rev Fabio de Souza Rodrigues Mr Silas Bernardes Ferreira Mr Sergio Amaral Dutra
The principal address of the charity is : INTERNATIONAL GOSPEL COMMUNITY Unit 3, 145 – 159 Eltham High Street London SE9 1TW
STRUCTURE, GOVERNANCE AND MANAGEMENT
The Charity governing document is a CIO – Foundation Constitution, registered with the Charity Commission on 20 September 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
TO ADVANCE THE CHRISTIAN FAITH (IN ACCORDANCE WITH THE STATEMENT OF BELIEFS) FOR THE BENEFIT OF THE PUBLIC THROUGH THE HOLDING OF PRAYER MEETINGS, LECTURES, PUBLIC CELEBRATION OF RELIGIOUS FESTIVALS AND BY PRODUCING AND/OR DISTRIBUTING LITERATURE AND RECORDED MATERIAL TO ENLIGHTEN OTHERS ABOUT THE CHRISTIAN FAITH.
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 Christian worship service sin the year to promote the Christian faith in the community.
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FINANCIAL REVIEW
The charity’s total income for the financial year exceeded £69,000. This income was effectively managed in accordance with the charity's objectives and operational needs throughout the period.
RESERVES POLICY
The trustees have adopted a reserves policy to maintain unrestricted funds at a level equivalent to approximately three months of unrestricted expenditure. This policy is intended to ensure that the charity is able to meet its obligations in the event of unforeseen financial challenges or emergency expenditure. The trustees aim to maintain this level of reserves on an ongoing basis and will review the policy annually.
RISK MANAGEMENT
The trustees have conducted a comprehensive review of the major risks to which the charity is exposed, with particular attention to operational and financial risks. They are satisfied that appropriate systems and procedures are in place to manage and mitigate these risks effectively.
TRUSTEES’ RESPONSIBILITIES
The trustees are responsible for preparing financial statements for each financial year that provide a true and fair view of the charity’s financial activities and position, in accordance with the Charities Act 2011. In preparing these financial statements, the trustees are required to:
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Select suitable accounting policies and apply them consistently;
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Make judgements and estimates that are reasonable and prudent;
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State whether applicable accounting standards and guidance have been followed;
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Prepare the financial statements on a going concern basis, unless it is inappropriate to presume that the charity will continue to operate.
The trustees are also responsible for maintaining proper accounting records that are sufficient to show and explain the charity’s transactions and to disclose, with reasonable accuracy at any time, the financial position of the charity. They must ensure that the financial statements comply with the Charities Act 2011. Furthermore, the trustees are responsible for safeguarding the assets of the charity and for taking reasonable steps to detect and prevent fraud or other irregularities.
This report was approved by the Board of Trustees on 30 May 2025 and signed on their behalf by:
Mr. Sergio Amaral da Silva Dutra
Trustee
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Independent Examiner's Report to the Trustees of International Gospel Community for the year ended 31 JULY 2024
I report on the financial statements of International Gospel Community for the year ended 31 July 2024, which are set out on the following pages. The accounts have been prepared in accordance with the accounting policies detailed therein.
Responsibilities of the Trustees and the Independent Examiner
The trustees are responsible for the preparation of the accounts and have determined that an audit is not required under section 144(2) of the Charities Act 2011 (the "2011 Act"), but that an independent examination is required.
It is my responsibility to:
Examine the accounts in accordance with section 145 of the 2011 Act;
Follow the procedures laid down in the General Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
State whether any matters have come to my attention that require disclosure.
Basis of Independent Examiner's Report
My examination was conducted in accordance with the General Directions issued by the Charity Commission. An independent examination involves a review of the accounting records kept by the charity and a comparison of the financial statements with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from the trustees concerning such matters.
The procedures undertaken do not constitute an audit and, as such, I do not express an audit opinion on the financial statements.
Independent Examiner's Statement
In the course of my examination, no matters have come to my attention:
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Which give me reasonable cause to believe that, in any material respect, the requirements:
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To keep accounting records in accordance with section 130 of the 2011 Act; and
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To prepare financial statements which accord with the accounting records and comply with the accounting requirements of the 2011 Act have not been met; or
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To which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Douglas Bento Oliveira BSc Hons Finance & Accounting, AATQB Independent Examiner Many Ways Solutions Limited 8 Apollo Avenue Bromley BR1 3TB
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| Income Receipts | Income Receipts | £/2024 | £/2023 | |
|---|---|---|---|---|
| Donations | 69394 | 61519 | ||
| Grants | 13596 | 23271 | ||
| Total | 82990 | 84790 | ||
| DIRECT CHARITABLE EXPENDITURE | ||||
| Labour costs | 0 | 200 | ||
| Telephone & Internet | 270 | 216 | ||
| Travel | 0 | 2 | ||
| Rent | 53332 | 45599 | ||
| Subscriptions | 988 | 1592 | ||
| Refreshments | 231 | 455 | ||
| Professional fees | 5422 | 11223 | ||
| Volunteers | 10 | 0 | ||
| Supplies | 132 | 135 | ||
| Light & heat | 2994 | 2545 | ||
| Repayments | 0 | 158 | ||
| Pension | 0 | 500 | ||
| Repairs | 3150 | 2383 | ||
| Welfare | 0 | 375 | ||
| Office costs | 996 | 3147 | ||
| Staff Training | 178 | 282 | ||
| Software | 518 | 260 | ||
| Sundry | 21 | 267 | ||
| Vehicle expenses | 0 | 509 | ||
| Advertising | 2899 | 3410 | ||
| Accountancy fees | 840 | 110 | ||
| Donations | 0 | 11 | ||
| Insurance | 455 | 424 | ||
| Postage | 3 | 4 | ||
| Bank charges | 36 | 743 | ||
| Depreciation | 1181 | 593 | ||
| 73656 | 75143 | |||
| Other Expenditure | ||||
| Equipment | 618 | 822 | ||
| 618 | 822 | |||
| Total Payments | 74274 | 75965 | ||
| Net Receipts/(Payments) for the year | 8716 | 8825 | ||
| Cash Funds brought forward | 8831 | 6 | ||
| Cash Funds at the end of year | 17547 | 8831 |
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| INTERNATIONAL GOSPEL COMMUNITY | INTERNATIONAL GOSPEL COMMUNITY | INTERNATIONAL GOSPEL COMMUNITY | INTERNATIONAL GOSPEL COMMUNITY | INTERNATIONAL GOSPEL COMMUNITY | |||
|---|---|---|---|---|---|---|---|
| 2 | STATEMENT OF ASSETSS AND LIABILITIES AT 31 JULY 2024 | ||||||
| Monetary Assets | |||||||
| CASH FUNDS | Unrestricted Funds | ||||||
| £/2024 | £/2023 | ||||||
| Cash at bank | 1699 | 515 | |||||
| Total | 1699 | 515 | |||||
| Assets retained for Charity's own use | |||||||
| Non- Monetary Assets | |||||||
| Fixtures and Fittings | 6426 | 2500 | |||||
| Depreciation | -1181 | -593 | |||||
| Net Book Value | 5245 | 1907 | |||||
| Liabilities | |||||||
| Bounce back | loan | 12292 | 6389 | ||||
| Accruals | 1621 | 1621 | |||||
| Creditors | 2698 | 2698 | |||||
| 16611 | 10708 | ||||||
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INTERNATIONAL GOSPEL COMMUNITY NOTES DO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024
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 values at the end of the year.
FUNDS
The CIO has a general unrestricted funds that receives voluntary donations from attendants at the meetings and events.
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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