CHURCH ACCOUNTS
Prepared for
FULL GOSPEL ASSEMBLIES OF GOD CHURCH
FOR PERIOD
6th August 2022 to 11th January 2024
FULL GOSPEL ASSEMBLIES OF GOD CHURCH
CHURCH INFORMATION
| Trustees | Pastor Joseph Otoo - Chairman |
|---|---|
| Owusu Clifford Sekyere - Trustee | |
| Rydal Addo - Trustee | |
| Registered Office | 138 Greenwich Drive South |
| Derby | |
| DE22 4AH | |
| Examiners | Trackrecords Management Services Limited |
| Unit 7 Cochran Close | |
| Crownhill | |
| Milton Keynes | |
| MK8 0AJ |
FULL GOSPEL ASSEMBLIES OF GOD CHURCH FOR THE YEAR ENDED 11th January 2024
REPORTS
The Trustees presents their report and financial statements for the year ended 11th January 2024
Objects of the Church
The objects of the Church stated below have been set up to primarilly benefit the public:
(a) to advance the Christian faith in several ways and in different parts of the United Kingdom or the world as the Church Board from time to time may think fit
(b) to relieve sickness and financial hardship and to promote and preserve good health by the provision of funds, goods or services of any kind including the provision of counselling and support in such parts of the United Kingdom or the world as the Church Board from time to time think fit; and;
(c) to advance education in such ways and in such parts of the United Kingdom or the world as the Church Board from time to time may think fit especially in parts of the UK where its users are drawn from, in particular in the advancement of education, the furtherance of health and the relief of poverty, distress and sickness among children women and others who are disadvantaged and the underprivileged.
Activities of the Charity
When planning the activities of the church for the year, the church board takes into account the the charities commission guidance on public benefit and, in particular, the specific guidance on charities for the advancement of religion. In particular the church board tries to enable ordinary people to live out their faith as part of our church through the following activities:
Wednesdays
Midweek bible studies
Fridays
Prayer Meeting
Saturdays
Fortnight youth meetings
Sundays
Church services at Derby
FULL GOSPEL ASSEMBLIES OF GOD CHURCH FOR THE YEAR ENDED 11th January 2024
Last Friday of every month
All night prayer service
Visitations
Throughout the week to Hospitals and homes
Evangelism
Spreading the Christian gospel by personal witness
FULL GOSPEL ASSEMBLIES OF GOD CHURCH FOR THE YEAR ENDED 11th JANUARY 2024
Financial Review of the Charity
The Churches’s results for the year and its financial position at the end of the year are fully disclosed in the attached financial statements. The total income for the year amounted to £9,013.00
We are very grateful to all church members who have generously given financially and all help offered in the last years to keep the church going.
Tangible fixed assets for use by the charity
There is no movements in the fixed assets
Committee of Members' responsibilities
The charity law requires the committee of members to prepare financial statements for each financial year, which give a true view of the financial activities of the charity and of its financial position at the end of that period. In preparing those financial statements, the committee of members is required:
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a) Select suitable accounting policies and apply them consistently;
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b) Make judgements and estimates that are reasonable and prudent;
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c) State whether the policies adopted are in accordance with applicable accounting standards and statements of recommended accounting practices, subject to any material departures disclosed and explained in the financial statements;
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d) Prepare financial statements on a going concern basis unless it is inappropriate to assume that the charity will continue in operation.
The committee of members is responsible for keeping proper accounting records, which discloses with reasonable accuracy at any time, the financial position of the charity and to enable them to ensure that the financial statements comply with Charities Act. 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.
FULL GOSPEL ASSEMBLIES OF GOD CHURCH FOR THE YEAR ENDED 11TH JANUARY 2024
Examiners
A resolution to appoint Messer Trackrecords Management Services Limited as examiners for the ensuring year has been proposed and agreed at the annual general meeting in accordance with the Charities Act.
Approval
The report was approved by the committee of members on the 01/11/2024 and signed on its behalf
Pastor Joseph Otoo
FULL GOSPEL ASSEMBLIES OF GOD CHURCH FOR THE YEAR ENDED 11TH JANUARY 2024
Examiners Report
We have examined the financial statements in this report, which have been prepared following the accounting policies, set out in the report.
Respective responsibilities of trustees and examiners
As described in report, the trustees of the Full Gospel Assemblies of God are responsible for the preparation of financial statements. It is our responsibilities to form an independent opinion, based on our examination, on the statements and to report our opinion to you.
Basis of opinion
We conducted our examination in accordance with standards charity accounting and independent examination. The examination is on test basis, of the evidence relevant to the amount of disclosures in the financial statements.
It includes an assessment of the significant estimates and judgements made by the committee of the members in preparation of the financial statements and whether the accounting policies are appropriate to the charity’s circumstance, consistently applied and adequately disclosed.
We planned and performed examination of the documents to obtain all the information and explanations which we considered necessary in order to provide us with sufficient evidence to give reasonable assurance that the financial statements are free form material misstatements, whether caused by fraud or other irregularities or error. In forming our opinion, we also evaluated the overall adequacy of the presentation of the information in the statements.
Opinion
In our opinion the financial statements give a fair view of the state of the charities affairs at 11th January 2024 and of its surplus for the period ended and have properly prepared in accordance with regulations of Charities Act.
Date:
01/11/2024
TRACKRECORDS MANAGEMENT SERVICES LIMITED UNIT 7 COCHRAN CLOSE CROWNHILL MILTON KEYNES MK8 0AJ
| FULL GOSPEL ASSEMBLIES OF GOD CHURCH | ||
|---|---|---|
| FOR PERIOD 6TH AUGUST 2022 TO 11TH JANUARY 2024 | ||
| Income & Expenditure | 2024 | 2021 |
| Unrestricted Funds | Unrestricted Funds | |
| INCOME | £ | £ |
| Total Offering | 2,011.00 | 2,193.00 |
| Other Income (Worldpay) | 754.00 | 692.35 |
| Tithes | 6,248.00 | 6,810.77 |
| Total Income | 9,013.00 | 9,696.12 |
| EXPENDITURE | ||
| Bank Charges | 91.35 | 500.00 |
| Consultancy Fees (Thirtyoneeight) | 290.00 | 2,655.00 |
| Easter Convention | 300.00 | 2,727.00 |
| Equipment Expensed | 260.72 | 815.63 |
| Insurance | 279.90 | 332.00 |
| Misison Support | 2,699.00 | 0.00 |
| Motor Expenses | 1,006.75 | 0.00 |
| Rent | 1,415.00 | 150.00 |
| Stationery & Printing | 245.14 | 839.00 |
| Subscriptions | 676.00 | 200.00 |
| Sunday School Books | 245.00 | 17.00 |
| Sundry | 231.70 | 291.60 |
| Training | 713.50 | 2,427.36 |
| Travel & Subsistence | 275.00 | 456.00 |
| Welfare Support | 919.75 | 350.00 |
| Depreciation | 611.72 | 394.00 |
| 10,260.53 | 12,154.59 | |
| NET PROFIT | -1,247.53 | -2,458.47 |
CONTINUING OPERATIONS:
None of the Churches activities were acquired or discontinued during the above financial period
STATEMENT OF TOTAL RECOGNISED GAINS AND LOSSES
There were no recognised gains or losses in the above financial period other than the results for the period and, accordingly no statement of total recognised gains and losses has been prepared.
I approve the above accounts and confirm that I have made available all necessary information for their preparation
Pastor Joseph Otoo
ACCOUNTANTS REPORT
We have prepared the above accounts without carrying out an audit and from information from Full Gospel Assemblies of God's books and records and explanations suppplied to us.
Trackrecords Management Services Limited Unit 7 Cochran Close Crownhill Milton Keynes MK8 0AJ
FULL GOSPEL ASSEMBLIES OF GOD CHURCH BALANCE SHEET AS AT 11TH JANUARY 2024
| Notes FIXED ASSETS Tangible assets 5 CURRENT ASSETS Debtors 6 Current Account CREDITORS Amounts falling due 7 Net Current Assets/ (Liabilities) Total Assets Less Current Liabilities NET ASSETS / (LIABILITIES) CAPITAL & RESERVES Profit and loss account Profit and loss reserve Bank Account reconciliation based on dates |
£ 0 360 |
2024 £ 1,835 360 |
2024 | 0 1,386 |
2021 2,447 1,386 |
2021 |
|---|---|---|---|---|---|---|
| 360 0 |
1,386 0 |
|||||
| 2,195 | 3,833 | |||||
| 2,195 | 3,833 | |||||
| -1,248 3,833 -390 |
-2,458 6,291 0 |
|||||
| 2,195 | 3,833 |
In approving these financial statements as the Trustee of the Church, I hereby confirm that these accounts have been prepared in accordance with the provisions applicable to the Charities Act
……………………..........Chairman
Rev Joseph Otoo
The financial statements were approved by the board of Trustees ……………………2024
FULL GOSPEL ASSEMBLIES OF GOD CHURCH BALANCE SHEET AS AT 11TH JANUARY 2024
NOTES TO THE FINANCIAL STATEMENTS
1. ACCOUNTING POLICIES
a) Basis of accounting
The financial statements have been prepared under the historical cost convention.
b) Income
Income represents various financial donations received to fund the operations of the church
c) Depreciation
Depreciation is provided on tangible assets at rates calculated to write off the cost of each asset over its expected useful life.
The rates used on a reducing balance are as follows:
Equipment, Fixtures & Fittings 25% straight line
2. INCOME
The income and profit for the year is all attributed to the company's principal activity and all services have been provided to the United Kingdom market and some donations have been made to Ghana as aid.
PENSIONS
The Church does not operate a pension scheme.
3. OPERATING PROFIT
The operating profit is stated after charging:
| Depreciation of tangible fixed assets Pastors remuneration included Pastors pension contributions |
2024 |
|---|---|
| £ 612 0 0 |
|
| 612 |
4. TAX ON ORDINARY ACTIVITIES
This represents corporation tax @0% based on profit for the year on ordinary activities
FULL GOSPEL ASSEMBLIES OF GOD CHURCH BALANCE SHEET AS AT 11TH JANUARY 2024
NOTES TO THE FINANCIAL STATEMENTS
5. TANGIBLE FIXED ASSETS
| Cost 11th January 2024 Additions At 11th January 2024 Depreciation Charge for the year At 11th January 2024 Net Book Value @ 11th January 2024 |
£ 2,447 0 |
|---|---|
| 2,447 | |
| 612 | |
| 612 | |
| 1,835 |
6. Debtors
| Debtors | 0 |
|---|---|
| 0 |
7. CREDITORS-Amounts falling due less than 1 year
| Trade Creditors | £ 0 |
|---|---|
| 0 |
FULL GOSPEL ASSEMBLIES OF GOD CHURCH FOR PERIOD ENDING 11th January 2024
Detailed Income & Expenditure
| INCOME Sunday Offering Thanksgiving Offering Tithes Other Income Total Income EXPENDITURE Bank Charges Consultancy Fees (Thirtyoneeight) Easter Convention Equipment Expensed Insurance Misison Support Motor Expenses Rent Stationery & Printing Subscriptions Sunday School Books Sundry Training Travel & Subsistence Welfare Support Depreciation NET PROFIT FOR YEAR |
Unrestricted Funds £ £ 1,436.00 575.00 6,248.00 754.00 9,013.00 91.35 290.00 300.00 260.72 279.90 2,699.00 1,006.75 1,415.00 245.14 676.00 245.00 231.70 713.50 275.00 919.75 611.72 10,260.53 -1,247.53 |
Unrestricted Funds £ £ 1,436.00 575.00 6,248.00 754.00 9,013.00 91.35 290.00 300.00 260.72 279.90 2,699.00 1,006.75 1,415.00 245.14 676.00 245.00 231.70 713.50 275.00 919.75 611.72 10,260.53 -1,247.53 |
|---|---|---|
| 9,013.00 | ||
| -1,247.53 |
Depreciation
Equipment
| Desc. Drums Loudspeakers Keyboard Bass Guitar Electric Drums Microphone Video Camera with stand Base combo Total |
Date bght B/fwd B/fwd B/fwd B/fwd B/fwd B/fwd B/fwd B/fwd |
Cost (BV) 450.00 506.25 309.38 196.88 168.75 281.25 84.38 450.00 |
Additions 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 |
Dep charge 24/24 112.50 126.56 77.35 49.22 42.19 70.31 21.10 112.50 |
NBV-24/24 |
|---|---|---|---|---|---|
| 337.50 379.69 232.04 147.66 126.56 210.94 63.29 337.50 |
|||||
| 2,446.89 | 0.00 | 611.72 | 1,835.17 |