## **Glory of the Cross Ministry Trust Trustees Annual Report for the Period 1st January – 31st December 2021.**
## **Aims and Purpose**
The Glory of the Cross Ministry has the responsibility of promoting the whole mission of the church, pastoral, evangelical, social and ecumenical.
## **Objectives and Activities**
The GCM is committed to the advancement of the Christian religion in accordance with the statement of belief, to relieve persons in conditions of need, hardships or distress, or who are aged or sick particularly in the said county and at the discretion of the trustees, elsewhere in the United K or the World. In our activities throughout the year, the GCM have considered the Commission’s guidance on public benefit, particularly in relation to charities for the advancement of religion.
- We try to help people develop their knowledge and belief in Christ through bible study and deployment of Christian literature, resources, and academic learning. We provide theological history through to modern day perspectives of faith, prayer and worship. We also teach comparative and major world religions such as Islam, Judaism, Christianity, and Evolution theories.
- Provision of pastoral care for the elderly, young people,
- Death, bereavement, and associated counselling
- Baptism, baby blessings, newly weds
- Lessons of self-worth and life skills for the youths, teaching them to believe in themselves and achieve.
- Provision of Citizenship and adolescent behaviour through anti-knife,
guns and drugs awareness schemes in primary, secondary schools and learning communities.
- Provision of support, guidance, and counselling in marriage.
- Single mums, battered wives and domestic violence.
- Provision for men with marital problems, single dads and children.
- Social and emotional development young people and teenagers.
- Child protection, and Safeguarding
- Intergenerational programmes- The Dream Team
- Provision for forced marriages.
## **Achievements and Performance**
Due to the covid19 pandemic the Glory of the Cross Ministry like other organisations was greatly impacted and therefore unable to perform and achieve in the year as planned. The elderly programme was one endeavour which had to be cancelled because of the vulnerability of the expected service users. However, the GCM continues to offer a range of online services during the week and over the course of the year. For example, early evening and midnight prayers provide an environment for sound sleep whilst the opportunity for deeper fellowship through interactive learning was provided by our Wednesday Bible Study Programme, which members of the community find both spiritually and socially fulfilling.
Notwithstanding the many environmental issues and the impact from covid, the Glory of the Cross Ministry was able to open the GCM Youth Club which meets weekly on Fridays. It provides a hub for young people to meet, play games, socialise and also receive spiritual encouragement to transform their lives and actively provide for them a safe space in the community.
Another achievement was to become a debt counselling organisation by joining CAP(Christians Against Poverty). Service users are given free counselling to enable them to escape the bondage of debt, poverty, hopelessness and opportunities for self-improvement.
## **Structure, governance and management**
The method of appointment of GCM trustees is set out in the Church Constitution. At the Glory of the Cross the members of the trustees consist of the Pastor, treasurer, secretary and members appointed by other trustees.
The GCM members are responsible for making decisions on all matters of concern.
GCM members who served from 1st January to 31st December 2021 are:
Pastor Patrick Agdomar – Chair Mrs Junie Burnett-Reid - Secretary Mrs Audrey Collymore - Treasurer Mr Jake Lawrence Mr John Agdomar Mr Patrick Adjei-Tutu – Treasurer Brandon Gamester
Approved by the Glory of the Cross Ministry on 30th September 2022 and signed on their behalf by Mrs J Burnett-Reid (Secretary)
GCM COMMUNITY 396 – 398 HERTFORD ROAD ENFIELD EN3 5QA
## **Section A Statement of financial activities**
|||**Restricted**||||
|---|---|---|---|---|---|
|**Recommended categories by**|**Unrestricted**|**income**|**Endowment**||**Prior year**|
|**activity**|**funds**|**funds**|**funds**|**Total funds**|**funds**|
||**£**|**£**|**£**|**£**|**£**|
|**Incoming resources (Note 3)**|F01|F02|F03|F04|F05|
|**Income and endowments**||||||
|**from:**||||||
|Donations and legacies|81,609|-|-|81,609|85,166|
|Charitable activities|-|-|-|-|-|
|Other trading activities|-|-|-|-|-|
|Investments|-|-||-|-|
|Separate material item of||||||
|income|-|-|-|-|-|
|Other|-|
-|
-|
-|
-|
|**_Total_**|81,609|-|
-|
81,609|85,166|
|**Resources expended (Note**|||||||
|---|---|---|---|---|---|---|
|**6)**|||||||
|**Expenditure on:**|||||||
|Raising funds||-|-|-|-|-|
|Charitable activities|100,755||-|-|100,755|39,892|
|Separate material item of
expense||-|-|-|-|18,798|
|Other||-|
-|
-|
-|
-|
|**_Total_**|100,755||-|
-|
100,755|58,690|
||||||||
|**Net income/(expenditure)**
**before investment**
**gains/(losses)**|-19,146||-|-|-
19,146|
26,476|
|Net gains/(losses) on
investments||-|-|-|-|-|
|**Net income/(expenditure)**|-19,146||-|-|-
19,146|26,476|
|**Extraordinary items**|-||-|-|-|-|
|**Transfers between funds**|-||-|-|-|-|
## **Net income/(expenditure) Extraordinary items Transfers between funds Other recognised gains/(losses):**
**----- Start of picture text -----**
- - - - -
- - - - -
-
- - -
19,146 19,146 26,476
228,016 842,497 - 1,070,513 1,044,037
208,870 842,497 - 1,051,367 1,070,513
**----- End of picture text -----**
Gains and losses on revaluation of fixed assets for the charity’s own use Other gains/(losses)
## _**Net movement in funds**_
## _**Reconciliation of funds:**_
Total funds brought forward
## _**Total funds carried forward**_
## **Section B Balance sheet**
|**Fixed assets**
**Intangible assets**
**(Note 15)**
**Tangible assets**
**(Note 14)**
**Heritage assets**
**(Note 16)**
**Investments**
**(Note 17)**
**_Total fixed assets_**
**Current assets**
**Stocks**
**(Note 18)**
**Debtors**
**(Note 19)**
**Investments**
**(Note 17.4)**
**Cash at bank and in hand**
**(Note 24)**
**_Total current assets_**
**Creditors: amounts falling**
**due within one year**
**(Note 20)**
**_Net current_**
**_assets/(liabilities)_**
**_Total assets less current_**
**_liabilities_**
**Creditors: amounts falling**
**due after one year**
**(Note 20)**
**Provisions for liabilities**
**_Total net assets or_**
**_liabilities_**
**Funds of the Charity**
**Endowment funds (Note**
**27)**
**Restricted income funds**
**(Note 27)**
**Unrestricted funds**
**Revaluation reserve**
**_Total funds_**
Signed by one or two
trustees on behalf of all the
trustees|**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**
**Total this**
**year**
**£**
**£**
**£**
**£**
F01
F02
F03
F04|**Total last**
**year**
**£**
F05|
|---|---|---|
||-
-
-
-|-|
||1,034,000
-
-
1,034,000|1,056,000|
||-
-
-
-|-|
||-
-
-
-|-|
||1,034,000
-
-
1,034,000|1,056,000|
||||
||-
-
-
-|-|
||-
-
-
-|-|
||-
-
-
-|-|
||37,367
-
-
37,367|44,513|
||37,367
-
-
37,367|44,513|
||||
||
350
-
-
350|350|
||||
||37,017
-
-
37,017|44,163|
||||
||1,071,017
-
**-**
1,071,017|1,100,163|
||||
||19,650
-
-
19,650|29,650|
||-
-
-
-|-|
||||
||1,051,367
-
-
1,051,367|1,070,513|
||||
||-
-
-|-|
||842,497
-
842,497|842,497|
||208,870
-
208,870|228,016|
||-||
||208,870
842,497
-
1,051,367|1,070,513|
||||
||Signature
Print Name|Date of
approval|
||||
## **Section C Notes to the accounts**
Note 1 **Basis of preparation**
**----- Start of picture text -----**
This section should be completed by all charities .
1.1 Basis of accounting
These accounts have been prepared under the historical cost convention with items recognised at cost or
transaction value unless otherwise stated in the relevant note(s) to these accounts.
The accounts have been prepared in accordance with:
• and with* ü the Statement of Recommended Practice: Accounting and Reporting by Charities
preparing their accounts in accordance with the Financial Reporting Standard
applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014
• and with* ü the Financial Reporting Standard applicable in the United Kingdom and Republic of
Ireland (FRS 102)
• and with the Charities Act 2011.
The charity constitutes a public benefit entity as defined by ü
FRS 102.*
* -Tick as appropriate
1.2 Going concern
If there are material uncertainties related to events or conditions that cast significant doubt on the charity's
ability to continue as a going concern, please provide the following details or state "Not applicable", if
appropriate:
An explanation as to those factors that
support the conclusion that the charity is a
going concern;
Disclosure of any uncertainties that make the
going concern assumption doubtful;
Where accounts are not prepared on a going
concern basis, please disclose this fact
together with the basis on which the trustees
prepared the accounts and the reason why
the charity is not regarded as a going
concern.
1.3 Change of accounting policy
The accounts present a true and fair view and the accounting policies adopted are those outlined in note { }.
Yes* ü * -Tick as appropriate
**----- End of picture text -----**
**----- Start of picture text -----**
No* ü
Please disclose:
(i) the nature of the change in accounting policy;
(ii) the reasons why applying the new accounting policy
provides more reliable and more relevant information;
and
(iii) the amount of the adjustment for each line affected in
the current period, each prior period presented and the
aggregate amount of the adjustment relating to periods
before those presented, 3.44 FRS 102 SORP.
1.4 Changes to accounting estimates
No changes to accounting estimates have occurred in the reporting period (3.46 FRS 102 SORP).
Yes* * -Tick as appropriate
No*
Please disclose:
(i) the nature of any changes;
(ii) the effect of the change on income and expense or
assets and liabilities for the current period; and
(iii) where practicable, the effect of the change in one or
more future periods.
1.5 Material prior year errors
No material prior year error have been identified in the reporting period (3.47 FRS 102 SORP).
Yes* * -Tick as appropriate
No*
Please disclose:
**----- End of picture text -----**
_**(i) the nature of the prior period error;**_
_**(ii) for each prior period presented in the accounts, the amount of the correction for each account line item affected; and (iii) the amount of the correction at the beginning of the earliest prior period presented in the accounts.**_
**Section C Notes to the accounts (cont)**
## **Note 3 Analysis of income**
**----- Start of picture text -----**
Restricted Endowm
Unrestricted income ent Prior
funds funds funds Total funds year
Analysis £ £
Donations Donations and gifts
and 1,600 - 1,600
legacies: Gift Aid
- - -
5,072
Legacies
- - - - -
General grants provided by
government/other charities - - - 7,158
Membership subscriptions and
sponsorships which are in
substance donations - - - -
Donated goods, facilities and
services - - - - -
Other
416 - - 416
-
Total 2,016 - 2,016 12,230
Charitable Members' Tithes & Offering
activities: 77,003 - - 77,003 59,375
Special appeal
-
2,590 2,590 13,062
- - - - -
Other
- - - 500
-
Total 79,593 - 79,593 72,936
Other: Conversion of endowment funds into
income - - - - -
Gain on disposal of a tangible fixed
asset held for charity's own use - - - - -
Gain on disposal of a programme
related investment - - - - -
Royalties from the exploitation of
intellectual property rights - - - - -
Other
- - - - -
- -
Total - - -
TOTAL INCOME 81,609 - 81,609 85,166
-
**----- End of picture text -----**
**Section C Notes to the accounts (cont)**
||||||||
|---|---|---|---|---|---|---|
|**Note 6 Analysis**|**of expenditure**||||||
||**This year**|||**Last year**|||
|**Analysis**|**Unrestricte**
**d funds**|**Restricted**
**income**
**funds**|
**Total**
**funds**|**Unrestri**
**cted**
**funds**|**Restrict**
**ed**
**income**|**Total**
**funds**|
|**Expenditure on charitable activities:**|||||||
|Rent and rate|1,292|-|1,292||-|-|
|Gun& Knife project young soldiez|531|-|531||-|-|
|Insurance, Heat & light|3,066||3,066|3,090||3,090|
|Repairs and Maintenance|51,486||51,486||-|-|
|Evangelism and Pastorial care|17,615||17,615|12,570||12,570|
|Travel & Subsistence|84||84|880||880|
|Telephone Printing & Stationery|376||376|328||328|
|Bank Charges|||-|40||40|
|Professional & Legal Fees|3,621||3,621|350||350|
|Depreciation|22,000||22,000|22,000||22,000|
|Website cost|149||149||||
|Sundry expenses|535|-|535|634|-|634|
|**Total expenditure on charitable**
**activities**|100,755|-|100,755|39,892|-|39,892|
|**Separate material item of**
**expense**|||-||18798|18,798|
||-|-|-|-|-|-|
|**Total**|100,755|-|100,755|39,892|18,798|58,690|
||||||||
|**Other**|||||||
||-|-|-|-|-|-|
||-|-|-|-|-|-|
|**Total other expenditure**|-|-|-|-|-|-|
|**TOTAL EXPENDITURE**|100,755|-|100,755|39,892|18,798|58,690|
**Section C Notes to the accounts (cont)**
## **Note 10 Details of certain items of expenditure**
## **10.1 Fees for examination of the accounts**
_**Please provide details of the amount paid for any statutory external scrutiny of accounts and other services provided by your independent examiner. If nothing was paid please enter '0' in the appropriate box(es).**_
|**10.1 Fees for examination of the accounts**
**_Please provide details of the amount paid for any statutory external_**
**_scrutiny of accounts and other services provided by your independent_**
**_examiner. If nothing was paid please enter '0' in the appropriate_**
**_box(es)._**|||
|---|---|---|
|
**Independent examiner’s fees**
**Assurance services other than audit or independent examination**
**Tax advisory fees**
**Other fees (for example: financial advice, consultancy, accountancy**
**services) paid to the independent examiner**|**This year**
**£**|**Last year**
**£**|
||350|350|
||-|-|
||-|-|
||-|-|
**Section C Notes to the accounts (cont)**
## **Note 14 Tangible fixed assets**
## _**Please complete this note if the charity has any tangible fixed assets**_
## **14.1 Cost or valuation**
|**Freehold land**
**& buildings**
**£**
At the beginning of the year
1,100,000
Additions
Revaluations
-
Disposals
-
Transfers *
-
At end of the year
1,100,000
**14.2 Depreciation and impairments**
****Basis**
**SL**(Straight
Line )
**** Rate**
2%
At beginning of the year
44,000
Disposals
-
Depreciation
22,000
Impairment
-
Transfers*
-
At end of the year
66,000
**14.3 Net book value**
Net book value at the beginning
of the year
1,056,000
Net book value at the end of the
year
1,034,000|**Freehold land**
**& buildings**
**£**|**Other**
**land &**
**buildings**
**£**|**Plant,**
**machinery**
**and motor**
**vehicles**
**£**|**Fixtures,**
**fittings and**
**equipment**
**£**|**Total**
**£**|
|---|---|---|---|---|---|
||1,100,000|-|-|-|1,100,000|
|||-|-|-|-|
||-|-|-|-|-|
||-|-|-|-|-|
||-|-|-|-|-|
||1,100,000|-|-|-|1,100,000|
|||||||
||**SL**(Straight
Line )|SL or RB|SL or RB|SL or RB|SL or RB|
||2%|||||
|||||||
||44,000|-|-|-|44,000|
||-|-|-|-|-|
||22,000|-|-|-|22,000|
||-|-|-|-|-|
||-|-|-|-|-|
||66,000|-|-|-|66,000|
|||||||
||1,056,000|-|-|-|1,056,000|
||1,034,000|-|-|-|1,034,000|
**Section C Notes to the accounts (cont)**
## **Note 20 Creditors and accruals**
## _**Please complete this note if the charity has any creditors or accruals.**_
## **20.1 Analysis of creditors**
|**Accruals for grants payable**
**Bank loans and overdrafts**
**Trade creditors**
**Payments received on account for contracts or**
**performance-related grants**
**Accruals Expenses and deferred income**
**Taxation and social security**
**Other creditors(Church members loan)**
**Total**|**Amounts falling**
**due within one**
**year**
**Amounts falling due**
**after more than one**
**year**|**Amounts falling**
**due within one**
**year**
**Amounts falling due**
**after more than one**
**year**|**Amounts falling**
**due within one**
**year**
**Amounts falling due**
**after more than one**
**year**|**Amounts falling**
**due within one**
**year**
**Amounts falling due**
**after more than one**
**year**|
|---|---|---|---|---|
||**This year**
**Last**
**year**
**This year**
**Last year**||||
||**£**
**£**
**£**
**£**||||
||- - - -||||
||- - - -||||
||- - - -||||
||- - - -||||
||350
350
-||||
||- - - -||||
||-
19,650
29,650||||
||350|350|19,650|29,650|
**Section C Notes to the accounts (cont)**
## **Note 24 Cash at bank and in hand**
|**Short term cash investments (less than 3 months**
**maturity date)**
**Short term deposits**
**Cash at bank and on hand**
**Other**
**Total**|**This year**
**Last year**|**This year**
**Last year**|
|---|---|---|
||**£**
**£**||
||-
-||
||10,200
-||
||27,167
44,513||
||-||
||37,367|44,513|
**HACKMAN & CO. ACCOUNTANTS**
**24 Barnmead Road Dagenham Essex RM9 5DU Phone: 020 8517 9299**
**Mob: 079 5659 8277**
**Fax: 020 3004 1465**
**E-mail: ehacky@hackmanassociates.com E-mail: ehacky@yahoo.com**
## **INDEPENDENT EXAMINERS REPORT**
## **ON THE ACCOUNTS OF GLORY OF THE CROSS MINISTRY FOR THE PERIOD ENDED 31 DECEMBER 2021**
## **Respective Responsibilities of Trustees and Examiner s**
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 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed. It is my responsibility to:
- examine the accounts under section 145 of the Charities Act,
- to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act, and
- to state whether particular matters have come to my attention.
## **Basis of Independent Examiner's Report**
Our examination was carried out in accordance with 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 the 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 statement below.
## **Independent Examiner's Statement**
In connection with my examination, no matter has come to my attention
1. which gives me reasonable cause to believe that in, any material respect, the requirements:
- to keep accounting records in accordance with section 130 of the Charities Act; and
- to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act
- have not been met; or
2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Emmanuel Hackman (FFA, FCCA, MSc) 26th October, 2022