2024
DIVINE GRACE MISSION
Paul Victoria Chartered Accountants 2nd floor, 134 South street, Romford, Essex RM1 1TE
DIVINE GRACE MISSION
REPORT AND ACCOUNTS
PERIOD ENDED 31 DECEMBER 2024
PAUL VICTORIA ACCOUNTANTS CHARTERED CERTIFIED ACCOUNTANTS 2[nd ] floor, 134 South street, Romford, Essex RM1 1TE
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DIVINE GRACE MISSION REPORT AND ACCOUNTS 2024
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CONTENTS PAGE Divine Grace Mission Information 4 Report of the Board of Trustee 5-7 Receipts and payments 8 Statement of Assets and Liabilities 9 Notes to the Accounts 10
DIVINE GRACE MISSION REPORT AND ACCOUNTS 2024
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DIVINE GRACE MISSION INFORMATION
NAME: DIVINE GRACE MISSION REGISTERED CHARITY NO: 1171308 TRUSTEES: MR AITI SAKADI OSULA MR ASTON ODIGIE MR RICHARD OKOGHENU MR SYLVESTER IGHODALO AKHIWU CORRESPONDENT: DIVINE GRACE MISSION 16 KERRY CLOSE LONDON E16 3PL ACCOUNTANTS: PAUL VICTORIA ACCOUNTANTS 2[ND] FLOOR 134 SOUTH STREET, ROMFORD ESSEX RM1 1TE
DIVINE GRACE MISSION REPORT AND ACCOUNTS 2024
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REPORT OF THE TRUSTEES
The members of the Board of Trustee present their report for the year ended 31 December 2024.
Governing Document
The charity is operated under the rules of its Trust Deed dated 25 January 2017.
Overall management of the charity is the responsibility of the trustees who are elected and co-opted under the terms of the trust deed. Day to day project activity is managed and carried out by the board of trustee.
Charitable Objects:
The Trustees shall hold the trust fund and its income upon to apply them in the following “(the objects)” the objects are to relieve the need suffering and distress of ethnic minority in the UK and Ireland in particularly but not exclusively by:
HE OBJECT OF THE CIO IS, FOR THE PUBLIC BENEFIT, THE ADVANCEMENT OF THE CHRISTIAN FAITH IN SUCH WAYS AS THE CHARITY TRUSTEES MAY FROM TIME TO TIME DECIDE.
Activities:
The principle activities of the charity include: weekend prayer meetings: weekend classes for children: : regular advice and advocacy as necessary. Visiting sick people at home and hospital: conducting naming ceremonies and prayers.
Summary of the main achievements during the period:
During the year, demands for the DIVINE GRACE MISSION services continued to grow in response to growth in public awareness of Christianity and community involvements.
The charity’s policy on reserves:
The trustees aim to maintain free reserves in unrestricted funds at a level which equates to approximately six months of unrestricted charitable expenditure. Our policy is, therefore, to continue building up our free reserves to the ideal level by means of annual operating surpluses and supplemented by general purpose appeals from time to time.
DIVINE GRACE MISSION REPORT AND ACCOUNTS 2024
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REPORT OF THE TRUSTEES
Risk Management:
The charity trustees have considered the major risks to which the charity is exposed and have reviewed those risks and established systems and procedures to manage those risks.
The trustees annually review the risks that the charity faces. To date these have mainly related to:
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Achievement of our aims and objectives; and
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Meeting the expectations of our beneficiaries and supporters.
The trustees review these risks on an on-going basis and satisfy themselves that adequate systems and procedures are in place to manage the risks identified.
Responsibilities of the Board of Trustees
The Board of Trustee is required to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the DIVINE GRACE MISSION as at the balance sheet date of its incoming resources and resources for the year ended. In preparing those financial statements, the Board of Trustee is 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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State whether applicable accounting methods have been followed, subject to any material departures disclosed and explained in the financial statements
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Prepare the financial statements on the going concern basis unless it is inappropriate to assume that the DIVINE GRACE MISSION will continue on that basis.
The Board of Trustee is responsible for keeping proper books of account such as are necessary to give a true and fair view of the DIVINE GRACE MISSION state of affairs and to explain its financial transactions. The DIVINE GRACE MISSION must also establish and maintain a satisfactory system of control of its book of account, its cash holdings and all its receipts and remittances, and hence is responsible for safeguarding the assets and taking reasonable steps for the prevention and detection of fraud and other irregularities.
Board of Trustee
The members of the Board of Trustee have no beneficial interest in the DIVINE GRACE MISSION and are not remunerated. The members of the Board of Trustee on the date this report was approved were as stated in the information page above.
DIVINE GRACE MISSION REPORT AND ACCOUNTS 2024
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Financial Statements
The financial statements for the period ended 31 December 2024 are presented in accordance with the Statement of Recommended Practice (SORP) “Accounting by Charities”.
The overall financial performance recorded a net surplus in funds of £146.
Any surplus funds which are not likely to be needed to pay for activities will be placed on deposit to earn interest.
The trustees declare that they have approved the trustees’ report above.
Signed on behalf of the charity’s trustees.
Sylvester Ighodalo Akhiwu
Signed
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(Chairman)
DIVINE GRACE MISSION REPORT AND ACCOUNTS 2024
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FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
DIVINE GRACE MISSION 1171308 Period start date Period end For the period from 1 January 2024 31 December 2024 ~~So~~ Receipts and payments Unrestricted Total funds Restricted funds funds Last year to the nearest to the to the nearest £ to the nearest £ £ nearest £ Receipts Receipts from donor - planned giving 7,897 - 7,897 7,371 Grant received 159 159 - Sub total (Gross income for - AR) - ~~—————~~ Total receipts 8,056 - 8,056 7,371 Payments Rent 7,760 - 7,760 6,896 Assistance to members - Professional fees 150 - 150 150 - - - - Administration (see note 3) - ~~===—=~~ Sub total 7,910 - 7,910 7,046 Asset purchases (see table) Assets for charity use (see note - Sub total - Total payments 7,910 - 7,910 7,046 Net of receipts/(payments) 146 - 146 325 ~~~[BSE]~~ Transfers between funds - - - - Cash funds last year end 648 - 648 323 Cash funds this year end_ 794 - 794 648 ~~===~~
DIVINE GRACE MISSION REPORT AND ACCOUNTS 2024
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Statement of assets and liabilities at the end of the period Unrestricted Restricted funds Total funds to nearest £ funds Last year to nearest £ to the to the nearest £ nearest £ Cash funds Bank current account 806 - 806 648 - - - - 806 - 806 648 ~~===~~ Other monetary assets - Other debts due to the church - ~~[gE]~~ Assets retained for the — ~~[SS]~~ charity’s own use - see (note 2) - ~~SS se~~ Fund to which Amount When due liability relates due (optional) (optional) Liabilities - - Other creditors - ~~SS~~ Signed by one or two ~~=~~ trustees on behalf of all the trustees
Sylvester Ighodalo Akhiwu (Signed)
DIVINE GRACE MISSION REPORT AND ACCOUNTS 2024
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NOTES TO THE FINANCIAL STATEMENTS
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The financial statements of DIVINE GRACE MISSION have been prepared in accordance with the Mosque accounting regulations 2006 using the Receipts and Payments basis.
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Receipts from donor: individual giving are recognized when the donations are received.
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The rental amount for the year includes the rent paid for the premises and other expenses
DIVINE GRACE MISSION REPORT AND ACCOUNTS 2024
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