REGISTERED CHARITY NUMBER: 1177873
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31
December 2023 For
GLORY WORSHIP CHURCH
GLORY WORSHIP CHURCH CONTENT: FINANCIAL STATEMENTS FOR THE YEAR ENDING 31 DECEMBER 2023
| Page | |
|---|---|
| Company information | 3 |
| Directors' report | 4 |
| Accountants' report | 7 |
| Income statement | 8 |
| Statement of financial position | 9 |
| Statement of changes in equity | 10 |
| Notes to the accounts | 11 |
| Detailed profit and loss account | 13 |
- 2 -
GLORY WORSHIP CHURCH
Report of the Trustees for the year ended 31 December 2023
The trustees present their report with the financial statements of the charity for the year ended 31 December 2023. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities' issued in March 2005.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1177873
Principal address
GLORY WORSHIP CHURCH 187-189 London Road Liverpool L3 8JG
Trustees
Dr Blessing Osaghae Dr. Chijioke Oforji (Resigned July 2023) Dr Sam Afari Mr. Otega Ariawhe
Independent Examiner
Rawson Irekponor (MSc, MBA, MAAT, ACCA, FCCA) RNR Accountants Ltd Liverpool Innovative Science Park Edge Lane Liverpool L7 9NJ
Bankers
Barclays Bank Plc Lloyds Bank Plc
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes an unincorporated charity. The trust deed is dated 21[st ] March 2005, supplementary 30[th ] May 2005.
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
OBJECTIVES AND ACTIVITIES
Objectives and Activities:
The overall objective of the charity is:
-
The promotion of love and tolerance
-
The advancement of education
-
The relief of poverty sickness or hardship and, the furtherance of the charitable work of the charity by the advancement of such other charitable purposes as the trustees shall from time to time decide.
ACHIEVEMENT AND PERFORMANCE Charitable Activities
The church organizes regular worship service for its members and these services are open to the public. These activities include weekly events for adults and children ranging from Bible study services to Prayer meetings and Sunday worship services.
Other activities include feeding the homeless program amongst other vocational events of interest for various demographics of the community.
3
GLORY WORSHIP CHURCH
The church opens up these programs to the public especially the community where it operates.
The church offers its building for community use (by arrangement) for programmes such as Holiday Club and related communal events for the benefits of the community.
- 4 -
ACHIEVEMENTS IN 2023
GLORY WORSHIP CHURCH
Report of the Trustees for the year ended 31 December 2023
Introduction:
Through the year, Glory Worship Church consistently and intentionally delivered a healthy balance of impactful events/vibrant in-person services supported with regular online broadcasts to reach our online community. As ever and as a goal-oriented organisation, we achieved outstanding feats in the dispatch of our services as delineated below:
Board Membership:
As the year unfolded, one of our board members (Dr. Chijioke Oforji) relocated from Liverpool (in July 2023) and was duly replaced by Mr. Otega Ariawhe (in August 2023) to keep the balance of our board membership. Activities:
-
We rightly kept up pace with consistent investment into our rented property, restructuring and maintaining it to best standards. This massive project ran through the year per time but remains highly rewarding in the end as it affords us the unique space to not only comfortably host our impactful events but also provide bespoke community-oriented services over the year (through The Cornerstone Hub, our charity organisation).
-
As touching the food bank services that we render, our relationship/partnership with Fareshare Ltd, Food Drop Ltd and Neighbourly was kept intact. It is needful to mention that even when peculiar administrative developments affected the quantity of products we had access to, we kept in view the understanding of the crucial nature of this service, and still took it upon ourselves to continue to provide food to the needy (where feasible) as well as to our members per time, meeting the basic needs of families/individuals within our community through our charitable distribution of the supplies secured. Given the continuing effects of the unprecedented spike in the cost of living, this service to humanity unarguably was and remains highly relevant to every beneficiary within our sphere of reach.
-
• We were able to tactfully host online, and in-person events targeted at a rich demographic variety of beneficiaries/our regular audience ranging from the married and unmarried to the old and young, learned and unlearned, etc., focusing on their all-round empowerment/development. Further to those, we were also able to successfully and safely host a number of funded community/half term holiday events across the year, which for our beneficiaries advocated social inclusion, promoted healthy eating and living, promoted education, developed handy skills/craftmanship, advanced a sense of community and alleviated some of the sustained tension from the pandemic/high costs in the standard of living.
Religious activities:
From the start to the end of the year, Glory worship church usually holds a couple of highly engaging services during the week which allows us to purposefully reach out to people of different demographic groups. Our joint worship services are usually held on Wednesdays at 6:30pm and Sundays at 11am in which we would normally and safely provide light breakfast before the start of the service as well as light lunch at the end of the service to our attendees/members of the community who visit us. Furthermore, to these we hold monthly leadership meetings where we teach and enable our volunteers to successfully deliver the mandate of the organisation. Speaking of life-changing positively impactful one-off events, in February, we held an expository singles & married couples seminar aimed at ensuring that we raise a generation of families with godly and exemplary homes for societal good. In the same month we held our first inter-city programme at our newly established branch Church at Manchester. The event was tagged ‘Ignite My City’ and aimed at stirring a hunger, a fire and passion for purpose-driven God-breathed living in the hearts of our attendees which goes on to positively impact our local societies and our nation.
In the first weekend of March, we graciously celebrated our 8[th] year anniversary and went on to warmly celebrate Mothers’ Day at a later point in the month where the essence of good motherhood was taught and the mothers/women in the House were rightly appreciated. In April, we thankfully marked Good Friday, held our
- 5 -
ACHIEVEMENTS IN 2023
resurrection service, and took ‘Ignite My City’ further to Sheffield and replicated the success attained in Manchester. In May, we held @Ignite My City’ Liverpool and marked Pentecost Sunday at the end of the month, both of which were a huge success. In June, we took ‘Ignite My City’ to another level as we crossed borders to Belgium, a statement attesting to the impact we were making thus far. We kept our aim in place, achieved the task and thankfully, the event was a great success. More so, as the balanced community that we are, we heartily celebrated Fathers’ Day in the same month, teaching on what it meant to be a great father, recognising the fathers/men in our midst, and appreciating their commitment and sacrifices to raising and keeping a home. July and August were the months where beyond our regular weekly meetings/monthly leaders and volunteers meeting, we held no major events, considering that most families usually have their vacations within these times. Giving no small place to the core essence of prayers, we had a prayer event tagged ‘prayer stretch’ aimed at further building the capacity of our attendees in the place of/the art of effective heartfelt prayer.
Furthermore, we hosted our yearly global cutting-edge conference in November 2023 (tagged ‘Supernatural’) whose impact cut across nations/boundaries and had our end of year leaders and volunteers retreat where we assess our year performance and refuel our passion for the coming year. Finally, we hosted our trademark unique International convergence day (where we specially acknowledge the rich variety of nationalities we consistently attract and positively impact) as well as hosted a community-open Christmas carol service in December 2023, etc, with these programmes aimed at acknowledging how far we had come as a group and how much further we could go (with Christ as our Saviour and Lord), carrying our community, city, nation and world along.
In all of these, our aim was to rightly support everyone under the church especially the vulnerable amongst us as well as to monitor the spiritual, physical, mental, emotional, and all-round wellbeing of our entire congregation.
Online Presence
Considering the membership/viewership we attract as our far-reaching influence across borders, our online community is a very vital and integral part of who we are, and by reason of our impact, we are growing appreciably with much felt presence on social media platforms like Facebook, YouTube, Instagram. With much needed equipment, defined strategy and reliable manpower in place, we aim to achieve more in the future on this note.
Funding/Donations:
For the year under review, we received external funding of £2,000, £3,047 and £2,250 each representing three (3) separate occasions when we hosted our Fab February half term event, April Easter holiday event & our winter half term event in December 2023. These funds were as a result of related applications we made to host the said events, spread across the year as highlighted above. To add to this, we received our claims from gift aids totaling £14,801.62 for the year 2023 (some of which was received in January 2024). Other than these, every other event we hosted/project we embarked on (including the capital-intensive project of on-going enhancements in our present rented property alongside maintenance/recurring overhead and administrative costs per time) was solely funded by church members and trustees. Conclusion:
We are a people whose paths shine progressively and broadly speaking, in comparison to year 2022, we had a much more all-round fruitful year in 2023 overall. Amidst global health concerns, global wars, remarkable historic events, the soaring increase in the costs of living and peculiar challenges to everyday living, even in the face of adversity, we did not cease to thrive as individuals and a church. Conclusively, we are conscious of the truth that when it mattered most, against all odds, we once again took giant strides and made undeniable progress as a Church on a general note for which we are eternally grateful to God. As ever, we have become a much greater force to reckon with, united, together, still standing strong and looking forward to recording and reporting even far better and greater achievements in the coming year.
- 6 -
Report of the Trustees For the Year Ended 31 December 2023
STATEMENT OF TRUSTEES RESPONSIBILITIES
The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the Charity SORP;
-
make judgements and estimates that are reasonable and prudent;
-
Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records, which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
ON BEHALF OF THE BOARD :
............................................. Dr Blessing Osaghae (Trustee)
Date:
- 7 -
GLORY WORSHIP CHURCH
Independent Examiner's Report to the Trustees of Glory Worship Church
I report on the accounts for the year ended 31 December 2023 set out on pages three to six.
Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year (under Section 144(2) of the Charities Act 2011 (the 2011 Act)) and that an independent examination is required.
It is my responsibility to:
-
examine the accounts under Section 145 of the 2011 Act
-
to follow the procedures laid down in the General Directions given by the Charity Commission (under Section
-
145(5)(b) of the 2011 Act); and
-
To state whether particular matters have come to my attention.
Basis of the independent examiner's report
My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair view ' and the report is limited to those matters set out in the statements below.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with my examination giving me cause to believe that in any material respect:
-
Accounting records were not kept as required by section 63 of the 2008 Act and section 130 of the 2011 Act: or
-
The accounts do not accord with those records; or
-
The accounts do not comply with the accounting requirements of the 2008 Act and the 2011
-
The accounts do not comply with the applicable requirements concerning the form 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 fair view which is not a matter considered as part of an independent examination.
I confirm that there are no other matters to which your attention should be drawn to enable a proper understanding of the accounts to be reached.
Independent Examiner Rawson Irekponor RNR Accountants Ltd Liverpool Innovative Science Park Edge Lane Liverpool L7 9NJ
Date: 18/10/2024
.
- 8 -
GLORY WORSHIP CHURCH INCOME STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2023
| Income/sources Voluntary Income Restricted fund Total income Administrative expenses Net income Net incoming Resources TOTAL FUNDS CARRIED FORWARD |
2023 Unrestricted fund £ 134,622 - (78,196) 56,426 56,426 - 56,426 |
2022 Total funds As restated £ 67,721 22,035 (63,169) |
|---|---|---|
| 26,587 | ||
| 26,587 - |
||
| 26,587 |
- 9 -
GLORY WORSHIP CHURCH STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2023
| Notes Fixed assets Tangible assets 4 Current assets Cash at bank and in hand Creditors: amounts falling due within one year 5 Net current assets Net assets FUNDS Unrestricted funds 6 TOTAL funds |
2023 £ 16,889 94,083 (1,200) 92,883 109,772 109,772 109,772 |
2022 £ 16,506 37,640 (800) |
|---|---|---|
| 36,840 | ||
| 53,346 | ||
| 53,346 | ||
| 53,346 |
The financial statements were approved by the Board of Trustees on the 17[th] of October 2024; and were signed on its behalf by
DR BLESSING OSAGHAE Director
Charity Registration No. 1177873
- 10
GLORY WORSHIP CHURCH STATEMENT OF CHANGES IN EQUITY AS AT 31 DECEMBER 2023
| At 1 January 2022 Profit for the year At 31 December 2022 At 1 January 2023 Profit for the year At 31 December 2023 |
Share capital £ - - - - |
Profit & loss account £ 26,759 26,587 53,346 53,346 56,426 109,772 |
Total £ 26,759 26,587 |
|---|---|---|---|
| 53,346 | |||
| 53,346 56,426 |
|||
| 109,772 |
- 11 -
ACCOUNTING POLICICES
GLORY WORSHIP CHURCH STATEMENT OF CHANGES IN EQUITY AS AT 31 DECEMBER 2023
~~1 Accounting Convention~~
The financial statements have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), the Charities Act 2011 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities
Incoming Resources
All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
.
2 Resources Expended
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources
Tangible fixed assets
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost Fixtures and fittings - 20% on cost Motor vehicles - 25% on cost
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2022 nor for the year ended 31 December 2023.
Trustees' expenses
There were no trustees’ expenses paid for the year ended 31 December 2022 nor for the year ended 31 December 2023.
3. STAFF COSTS
| 2023 | 2022 | |
|---|---|---|
| As restated | ||
| £ | £ | |
| Wages and salaries | 9050 | 2.900 |
No employees received emoluments in excess of £60,000
4. PRIOR YEAR ADJUSTMENT
There are no prior year adjustments made during the year.
- 12 -
GLORY WORSHIP CHURCH NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023
Tangible assets
Presentation currency
The accounts are presented in £ sterling.
| 3 Tangible fixed assets Cost or valuation At 1 January 2023 Additions At 31 December 2023 Depreciation At 1 January 2023 Charge for the year At 31 December 2023 Net book value At 31 December 2023 At 31 December 2022 4 Creditors: amounts falling due within one year 2023 £ Accruals 1,200 |
Fixtures & fittings £ At cost 24,439 5,726 30,165 7,933 5,343 13,276 16,889 16,506 2022 £ 800 |
|---|---|
- 13 -
GLORY WORSHIP CHURCH NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023
5, MOVEMENT IN FUNDS-CONTINUE D
Net Movement in funds, included in the above are as follows:
Incoming Resources Movement in Resources expended funds £ £ £ General fund 134,622 (78,579) 56,043 TOTAL FUND 134,622 (78,579) 56,043
- 14 -
GLORY WORSHIP CHURCH DETAILED PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023
~~This schedule does not form part of the statutory accounts.~~
| Fund Voluntary Income Restricted Funds Administrative expenses Wages and salaries Staff training and welfare Travel and subsistence Rent Rates Service charges Light and heat Telephone and fax Postage Stationery and printing Bank charges Insurance Software Repairs and maintenance Depreciation Accountancy fees Other legal and professional Net Income Net Income |
2023 £ 134,622 - 9,050 3,141 8,568 28,076 1,929 4,430 2,638 871 - 5,726 - 1,235 1,127 2,892 5,343 2,200 970 78,196 56,426 56,426 |
2022 £ 67,721 22,035 |
|---|---|---|
| 2,900 3,201 240 20,628 3,643 1,519 - 2,175 1,484 - 23 1,264 2,579 18,515 4,198 800 - |
||
| 63,169 | ||
| 26,587 | ||
| 26,587 |
- 15 -