REGISTEREO COMPANY NUMBER: CE009870 (England and Wales) CHARITY REGISTRATION NUMBER: 1172477 Global Church of Grace Ministries Unaudited Financial Statements 31st March 2025 Woodridge Accountancy Limited Chartered Certified Accountants 14 Chapel Rise Rednal B45 9SN
Global Church of Grace Ministries Charitable Trust Financial statements Year ended 31st March 2025 Pages Trustees. annual report 1to3 Independent examiner's report to the trustees Statement of financial activities Statement of financial position Notes to the financial statements 7t012
Page 1 Global Church of Grace Ministries Charitable Trust Trustees. Annual Report Year ended 31st March 2025 The trustees present their report and the unaudited financial statements of the charity for the year ended 31st March 2025. Achievements and perforniance Objectives and Aims The objects of the charity for the public benefit are to advance the Christian faith. Significant activities Extensive prayers and refreshing activities all aimed at achieving the vision of the Global Church of Grace Ministries An annual convention with attendance of more than 400 members of the church and those outside the church Youth conference in Telford geared on the topics of career development, voluntary work, university choices etc Annual women's Conferen held in London for both women in the ministry and the local community on the subject of parenting, career and finanS Musical cOnrt organised across the branches for members and people of the community Estsblishment of a national mass choir Increased contribution towards other charitable activities in the community (eg food bank, donations to charities etc} Increased outreach work which led to continued increase in regular attendance at our various branches both during mid week and Sunday servIS and for other special programmes Financial review Financial posltion The results for the year, and the financial position at the end of the year, are shown in the attached financial statements. Reserves policy The charity's reserve policy aims to secure three to six rnthS of running costs within the general free reserves to ensure ongoing sustainability. The current level of free resep4es meet this objective at this point Future plans All the significant actsvities mentioned earlier are due to be carried out each and every year The pr¢xess of purchasing a church building is ongoing with increased focus on a wide range of fundraising activities To those who need assistance the church bus will continue to convey members of the congregation and non-members tolfrom various destinations to the Church across the various branches Structure, governance and management Governing document The charity is controlled by its goveming document, a deed of trust and constitutes a charitable incorporated organisation under the Charities Act 2011
Page 2 Global Church of Grace Ministries Charitable Trust Trustees, Annual Report Year ended 31st March 2025 Charity constitutlon The charity is controlled but its chanty constituknon dated 7 April 2017 Recruitment and appointment of new trustees New trustees ofthe charity shall be the Spiritual Leaders from time to time. No person shall be admitted as a trustee of the charity unless he or she subscribes to the Statement of Beliets. There must be at least 3 charity trustees holding office and there Is no maximum number of trustees that may be appointed. Induction and training of new trustees The charity trustees will make available to each new charity trustee, on or before his or her first appointment A copy of the current version of the constituts'on A copy of the charity's latest Trustees, annual report and statement of accounts. The charity trustees shall not be subject to retirement by rotation. The terms of office of a charity trustee shall continue unkn'l he or she retires or is removed in accordance with the relevant provisions of the articles. Any person who retires as a charity trustee by giving notice to the charity is eligible for reappointment.
Page 3 Global Church of Grace Ministries Charitsble Trust Trustses. Annual Report (¢onllnu•d) Year ended 31st March 2025 Reference and administrative details Registered charity name Global Church of Grace Ministries Charitsble Trust Company registration number CE009870 (England and Wales) Charity registration number 1172477 Prlncipal office Unit D3 Hortonwood 10 Telford West Midlands TF17ES The trustees D Ofori - Adjei A Coleman S Kyei-Baafour Company Secretary D Ofori - Adjei Independent examiner Ms C Peters FCCA, of Woodridge Accountancy Limited Chartered Certified Accountants 14 Chapel Rise Rednal Bimingham 845 9SN The trustees, annual report was approved on 16th January 2026 and signed on behalf of the board of trustees by.. D Ofori - Adjei Trustee
Page 4 Global Church of Grace Ministries Charitsble Trust Independent Examiner's Report to the Trustses of Global Church of Grace Ministries Charitsble Trust Year ended 31st March 2025 I report to the trustees on my examination of the financial statements of Global Church of Grace Ministries Charitsble Trust ('the charity,) for the year ended 31 st March 2025. Responsibilities and basls of report As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 ('the Act')- I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in cafrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. Independent examinerfs statement I have completed my examinaknon. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect.. accounts'ng records were not kept in respect of the charity as required by section 130 of the Act., or the financial statements do not accord with those records; or the financial statements do not comply with the applicable requirements concerning the fom and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fairf view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Ms C Peters FCCA, Independent Examiner Woodridge Accountancy Limited Chartered Certified Accountants 14 Chapel Rise Rednal Birmingham 845 9SN
Pago 5 Global Church of Grace Ministries Charitable Trust Statsment of Financial Activities Year ended 31st March 2025 2025 Unrestricted funds Total funds 2024 Total funds Income and endowments Donations and legacies Other trading activities Investment income 189.722 189,722 289,810 4,542 4,542 3,163 Total income 194,264 194,264 292,973 Expendlture Expenditure on charitsble activities: Direct charitable expenses Governance costs Support costs Total expenditure 88,080 22,103 96,622 88,080 22,103 96,622 206,805 128.483 9,111 91,963 206,805 229,557 Net lexpendltureylncome and net movement tn funds {12,541} {12.541) 63,416 ReconcS1iation of funds Total funds brought forward Total funds carrled forward 334,743 334,743 271.327 322.202 322,202 334.743 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activib'es. The note• on pages 7 to 11 fom part of these financial ststsments.
Page 6 Global Church of Grace Ministries Charitable Trust ststement of Financial Position 31st March 2025 2025 2024 Note Fixed assets Tangible fixed assets 11 49,166 15,719 Current assets Cash at bank and in hand 275.016 321,004 Credltors: amounts falllng due within one year Net current assets 12 11,980) (1,980) 319,024 273,036 Total assets less current Ilabillties 322,202 322,202 334,743 Net assets 334,743 Funds of the charity Unrestricted funds 322,202 322,202 334,743 Total charity funds 14 334,743 These financial statements were approved by the board of trustees and authorised for issue on 16th January 2026, and are signed on behalf of the board by.. Mr D Ofori-Adjei Trustee The notes on pages 7 to 11 fornb part of these financial Statements.
Page 7 Global Church of Grace Ministries Charitsble Trust Notes to the Financial Statements Year ended 31st March 2025 General infomiatlon The charity is an incorporated charity registered in England and Wales. The address of the charity's registered office is Unit D3, Hortonwood 10, Telford. TF17ES Statement of complianco These financial statements have been prepared in Complian with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland., the Statement of Recommended Practice applicable to chanties preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021 (Charities SORP (FRS 102)) and the Chanties Act 2011. Accounting policies Basis of preparation The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities measured at fair value through income or expenditure. The financial statements are prepared in steding, which is the functional currency of the entity. Going concern There are no material uncertainties about the charity's ability to continue. Disclosure exemptions The trustees have taken advantage of the exemption in FRS 102 from including a cash flow statement in the financial statements on the grounds that the trust is a small entity. Judgements and key sources of estimatlon uncertalnty The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and Judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Fund accounting General funds are unrestricted funds which are available for use at the discretson of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Page 8 Global Church of Grace Ministries Charitable Trust Notes to the Financial Statsments (conllnu Year ended 31st March 2025 Accounting policies (contlnu•d) Incomlng resources All income is included in the statement of financial actsvities when entitlement has passed to the charity, it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliabty measured. The following specific policies are applied to particular categories of income: income from donations is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. - legacy Income is recognised when receipt is probable and entitlement is established. income from contracts for the suppty of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and turned rf unspent. in which case it may be regarded as restn'cted. Resources expended Expenditure is recognised on an accruals basis as a liability is incued. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates= - expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated g¢)ods. expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitsble aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the Ghanty apportioned to charitable activities. other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity- Shared costs are apportioned beeen the activities they contribute to on a reasonable, Justifiable and consistent basis. Tangible assets Tangible assets are initially recorded at Gost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Depreciation Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows.. Musical equipment Fixtures and fittings Motor vehicles 20°/0 Straight line 25 % straight line 250A straight line
Page 9 Global Church of Grace Ministries Charitable Trust Notes to the Financial Statements (¢onllnu8(Q Year ended 31st March 2025 Ac¢ountlng policies (eontlnu•d) Impaimient of fixed assets A review for indicators of Impalmnt is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. lthere the carrying value eXedS the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset. an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash4Jenerating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of gocthill, the goodwill acquired in a business combination is. from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination. irrespective of whether other assets or liabilities of the charity are assigned to those units. Donations and legacies Unrestricted Total Funds Unrestricted Total Funds Funds 2025 Funds 2024 Donations Donations, tithes and offerings 189.722 189,722 289.810 289,810 Investment Income Unrestricted Total Funds Unrestricted Total Funds Funds 2025 Funds 2024 Bank interest receivable 4.542 4.542 3,163 3,163
Page 10 Global Church of Grace Ministries Charitable Trust Notes to the Detailed Ststsment of Financial Activities Year ended 31st March 2025 Expenditur• on charltable activitles by fund type Unrestricted Totsl Funds Unrestricted Total Funds Funds 2025 Funds 2024 Direct charitable activrties Governance costs Support costs 88,080 22,103 96,622 88,080 22,103 96,622 128,483 9,111 91,963 128,483 9,111 91,963 2(E,805 206,805 229,557 229,557 Expenditure on charltable actlvities by activity type Activities undertaken Govemance Total funds directly costs 2025 Total fund 2024 Direct charitable acttvities Support costs Governance costs 88,080 96,622 88,080 96,622 22,103 128,483 91,963 9,111 22.103 184,702 22,103 206,805 229,557 Net (expenditure)lincome Net (expenditure)lincome is stated after chargingl(crediting).' 2025 2024 Depreciation of tangible fixed assets 20,003 7,361 Independent examinatlon fees 2025 2024 Fees payable to the independent examiner for.. Independent examination of the financial statements Other financial services 2,100 1,750 2,100 1,750 10. Staff costs and emoluments The total staff costs and employee benefits for the reporting period are analysed as follows". 2025 2024 The average head count of employees during the year was Nil {2024'. Nil}. No employee received employee benefits of more than £60,000 during the year (2024.. Nil).
Page 11 Global Church of Grace Ministries Charitable Trust Notes to the Detailed Statement of Financial Activities Year ended 31st March 2025 11. Tangible fixed assets Musical Fixtures & Equipment ffttings Motor Vehicles Total Cost At 1 st April 2024 Additions 37.095 279 17,521 2.376 10,400 50.794 65,016 53,449 At 31st March 2025 37,374 19,897 61,194 118,465 Depreciation At 1st Apnl 2024 Charge for the year 25,733 4,244 13,164 3,059 10,400 12,699 49,297 20,002 At 31st March 2025 29,977 16,223 23,099 69,299 Carrying amount At 31st March 2025 7,397 3,674 38,095 49,166 At 31st March 2024 11,362 4,357 15.719 12. Creditor5: amounts falling due within one year 2025 2024 Accruals and deferred income Other creditors 1,980 1,980 Net assets 1.980 1,980 13. Analysls of charitable funds Unrestrlcted funds At 31st March 2025 At 1st April 2024 Income Expenditure General funds 334,743 194,264 {206,805) 322,202 At 31st March 2024 At 1st March 2023 Income Expendtture General funds 271,327 292,973 (229,557) 334,743
Page 12 Global Church of Grace Ministries Charitable Trust Notes to the Detailed Statsment of Financial Activities Year ended 31st March 2025 14. Analysis of net assets between funds Unrestricted Total Funds Funds 2025 Tangible fixed assets Current Assets Creditors less than 1 year Net assets 49,166 275,016 (1,980) 322,202 49,166 275,016 11,980) 322,202 Unrestricted Totsl Funds Funds 2024 Tangible fixed assets Current Assets Creditors less than 1 year Net assets 15,719 321,004 (1.980) 334,743 15,719 321,004 (1,980) 334,743