2024-12-31-accounts - Victory-City Assemblies Of God Church

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VICTORY-CITY ASSEMBLIES OF GOD CHURCH

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

CHARITY REGISTRATION NUMBER:

1200610

VICTORY-CITY ASSEMBLIES OF GOD CHURCH FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DEC 2024

CONTENTS		PAGES
ADMINISTRATIVE INFORMATION		1
REPORT OF MANAGEMENT COMMITTEE		2-4
STATEMENT OF FINANCIAL ACTIVITIES		4
BALANCE SHEET		5
NOTES TO THE ACCOUNTS	6-8
DETAILED INCOME AND EXPENDITURE		9

VICTORY-CITY ASSEMBLIES OF GOD CHURCH FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DEC 2024

COMMITTEE MEMBERS:

Rev. Nana Kyei-Baffour Chairperson Rev. Akwasi Kusi Secretary Walter Malines Treasurer

Charity Registered Number

1200610

Registered office: 25 Brown Close SM6 9ER Wallington Surrey United Kingdom

Bankers: NATWEST 27, Woodcote Road Wallington SM6 0LN

VICTORY-CITY ASSEMBLIES OF GOD CHURCH FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DEC 2024

The trustees of Victory-City Assemblies of God have the pleasure in submitting their report and accounts for the year ended December 2024. The trustees are responsible for keeping proper records and preparation of the accounts which discloses with reasonable accuracy at any time the financial position of the charity They are also, responsible for safeguarding the assets of the charity and hence for taking reasonable steps to prevent and detect fraud and other irregularities.

The financial statements have been prepared in accordance with the accounting policies set out and comply with the Statement of Recommended Practice (SORP) and applicable law.

PRINCIPAL ACTIVITIES:

The advancement of Christian faith in accordance with the Statement in such ways and in such parts of the United Kingdom or the world as the Church Council from time to time may think fit;
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 through the provision of counselling and support in such parts of the United Kingdom or the world as the Church Council from time to time think fit;
The advancement of education in such ways and in such parts of the United Kingdom or the world as the Church Council from time to time may think fit.
Provision of social and community services/outreach including promotion of community and family projects

Development, Activities and Achievements in the year

Through the structure already in place, we were able to provide services for the holistic development of the Church members as well as helping the Church to reach the Community. The Church was able to initiate a training programme to educate and train leaders and every family in discipleship for ministry which has been going on well. In addition to pulpit ministry, a strategy was designed to enhance individual spiritual growth by continuously providing all young people and adults with morning devotional books. Departmental and auxiliary ministries continued to be effective in their services. Many depressed people were ministered to in the Community and helped appropriately during the Community outreach activities in the year.

Future Development

The Church will continue to focus its activities to meet the objectives of the charity. To enhance this ambition, the search for a property (building) continues to be one of our top targets since we still do not have any worship place of our own.

This report was approved by the board of trustees on the 31October 2023 and signed by

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_ __
_
Rev. Nana Kyei-Baffour Rev. Akwasi Kusi
(Chairman) (Secretary)
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VICTORY-CITY ASSEMBLIES OF GOD CHURCH FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DEC 2024

Incoming Resources Voluntary income (Donations) Resources Expended Resources expended on charitable Activities Management Costs Total resources expended Net Income/Expenditure for the year	Unrestricted Funds 2023 £ 3150
	3150 828 2338
	3166
	(16)

VICTORY-CITY ASSEMBLIES OF GOD CHURCH

AS AT 31 DEC 2024

BALANCE SHEET

Fixed assets: Tangible assets Current Assets: Cash/Bank balances Creditors falling due within one year Net current assets Creditors: Falling due after more than one year Net Assets/(Liabilities) Funds: Opening funds Total funds	348 0	Unrestricted fund 2023 £ 0 348 348 364 (16) 348
	348 0

Approved by the trustees and signed on its behalf by:

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Chairperson
Treasurer
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On 31/10/2024

VICTORY-CITY ASSEMBLIES OF GOD CHURCH

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DEC 2024

1. Accounting Policies

Basis of preparation of Financial Statements

The financial statements are prepared under the historical cost convention and include the results of the charity operations which are described in the trustee’ report and all of which are continuing. The accounts have been prepared in accordance with the statements of Recommended Practice for Charity Accounts. The Charity has taken the advantage of the exemption of Financial Reporting Standard No 1 from the requirement to produce a cashflow statement on the grounds that it qualifies as a small charity.

1.2. Incoming Resources:

1.2.1 Revenue generated are credited to the statement of financial activities on the earlier date of when they are received or when they are receivable, unless they relate to a specific future period, in which case they are included on the balance sheet as deferred income to be recognised in the future accounting period.
1.2.2 Income received for specific purposes are accounted for as restricted funds in the Statement of Financial Activities
1.3 Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is identified to be funds, together with a fair allocation of management and support costs.

1.4 Unrestricted Funds Unrestricted funds are donations and other incomes received or generated for the objects of the organisation without further specified purpose and are available for general funds.

1.5 Designated Funds Designated funds are unrestricted funds earmarked by the Trustee for particular purposes.
1.6 Resources Expended: All expenditure is accounted for gross and when incurred. Direct charitable expenditure includes the direct costs of the activities and depreciation on related assets. Management and administration comprise those costs relating to the Charity’s central management and administration as opposed to its charitable activities.
7

1.7 Capital Equipment Depreciation:

The cost of equipment/furniture is written off in the year in which it is incurred.

FIXED ASSETS: Currently the Charity has no fixed asset
registered on its
name.

VICTORY-CITY ASSEMBLIES OF GOD CHURCH

DETAILED INCOME & EXPENDITURE FOR THE YEAR ENDED 31 DEC 2024

Incoming Resources: Voluntary income: Tithes Oferings Resources Expended: Trustees' renumeration Charitable Activities: Mission Training Support Costs: Management: Printing & stationery DBS for members Subscription - AOG Hall hire for church services Total costs Total support costs Finance Costs: Bank charges Depreciation Total costs Net Incoming Resources	2023 £ 2520 630
	3150
	0 125 828
	953 13 150 100 1950
	2213
	3166
	0 0
	0
	3263
	(16)