## **WELLSPRING OF GRACE CHURCH INTERNATIONAL**
## **REPORTS**
## **AND**
## **FINANCIAL STATEMENTS**
## **ACCOUNTS FOR THE PERIOD ENDED 31 DECEMBER 2023**
**ATS Accountants Ltd Globe House, Moss Bridge Road Rochdale OL16 5EB**
## **WELLSPRING OF GRACE CHURCH INTERNATIONAL**
## **ACCOUNTS FOR THE PERIOD ENDED 31 DECEMBER 2023**
|**CONTENTS**||
|---|---|
||**PAGE**|
|GENERAL|1|
|REPORT OF THE OFFICERS|2|
|BALANCE SHEET|3|
|INCOME AND EXPENDITURE ACCOUNT|4|
|NOTES FORMING PARTS OF THE ACCOUNTS|5-7|
## **GENERAL**
## **Registered Charity Number 1202793**
## **ADDRESS**
Oasis Academy Oldham Hollins Road Oldham OL8 4JZ
## **TRUSTEES**
Mr. Samson Uhunoma Chair Mr. Joy Eguakun Trustee Mr. Ruth Uhunoma Trustee Mr. Kudakwashe Muduma Trustee
## **ACCOUNTANT**
ATS Accountants Ltd Globe House, Globe Park, Moss Bridge Road, Rochdale OL16 5EB
## **BANKERS**
Lloyds Bank Victoria Branch 58 Yorkshire Street Rochdale OL16 1JP
## **WELLSPRING OF GRACE CHURCH INTERNATIONAL**
**1**
## **REPORT OF THE OFFICERS**
## **ACCOUNTS FOR THE PERIOD ENDED 31 DECEMBER 2023**
The Honorary Officers present their report on the affairs of the Wellspring Of Grace Church International together with The Officers have, as required by the Charity Act prepared financial statements for the year ended 31 December 2023 which The Charity has been keeping proper accounting records which disclose with reasonable accuracy at any time the financial statements comply with, as applicable, the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and the Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015).
The recent activities organised by Wellspring Of Grace Church International are for the children and adults in our community, focusing on the children's gathering at the church, one-on-one counselling services, musical events, and community clean-up initiatives.
The principal activities of the charity areas follows: organising children’s sessions, counselling sessions, musical parties, and a community clean-up initiative.
## **ACCOUNTANTS**
The Officers will place a resolution before the annual general meeting to continue the appointment of ATS Accountants Ltd as accountants of the Charity.
By order of the board
.……………...................................................
**Samson Uhunoma, Chair**
**Date:** 28/10/2024
**2**
## **WELLSPRING OF GRACE CHURCH INTERNATIONAL**
## **ACOUNTS FOR THE PERIOD ENDED 31 DECEMBER 2023 BALANCE SHEET AS AT 31 DECEMBER 2023**
|**Fixed assets**
**Note**
**s**
Tangible assets
**Current assets**
Debtors and Prepayments
Cash at Bank & in Hand
**2**
**Net current assets**
**Creditors: Amounts**
**falling due within one**
**year**
Interest Free Loan
Other Creditors
**Net Assets**
**Funds**
**Unrestricted Funds**
Balance brought forward
Prior Year Adjustment
Surplus for the year
Revaluation Reserve
**Balance Carried**
**Forward**|**£**
-
5,601|**2023**
**£**
-
-
(350)|
|---|---|---|
||||
|||**5,251**|
|||5,251
-
-
5,251
-|
|||**5,251**|
The financial statements were approved by the board of officers and signed on behalf of the officers by:
....................................................
## **Samson Uhunoma (Chair)**
**3**
## **Date:**
The accompanying notes form an integral part of these accounts.
## **WELLSPRING OF GRACE CHURCH INTERNATIONAL**
## **ACCOUNTS FOR THE PERIOD ENDED 31 DECEMBER 2023 INCOME AND EXPENDITURE ACCOUNT**
|**Note**
**s**
**Income**
**3**
Donations and Gifts
Other Income
**Less: Fundraising**
**Expenses**
**Less: Admin Expenses**
**4**
**Surplus on Ordinary**
**Activities for the year**
**Surplus Brought Forward**
**Prior Year Adjustment**
**Surplus Carried Forward**|**£**
-
7,771|**2023**
**£**
13,022|
|---|---|---|
|||13,022
(7,771)|
||||
|||**5,251**
-|
|||**5,251**|
The charity has no recognised gains or losses other than those shown in the Income and Expenditure Account for the above
**4**
The accompanying notes form an integral part of these accounts.
## **WELLSPRING OF GRACE CHURCH INTERNATIONAL**
## **ACCOUNTS FOR THE PERIOD ENDED 31 DECEMBER 2023 RECONCILIATION AND ANALYSIS OF MOVEMENTS ON THE FUNDS**
||**2023**||**Delete**|
|---|---|---|---|
|**Unrestricted Funds**
**Unrestricted and Restricted Funds**||**Unrestricted and Restricted Funds**||
||**General**
**Designated**||**Total**|
||**£**|**£**|**£**|
|Income (Donations,||||
|Gifts and Others)|13,022||13,022|
|Interest Free Loans|-|-|-|
|Other Loans|-|-|-|
||13,022|**-**|13,022|
|Opening Value of||||
|Funds|0,|-|0|
|**Funds Available for**||||
|**Use**|13,022||13,022|
|**Funds Used:**||||
|Admin Expenditure|(7,421)||(7,421)|
|**Closing Value of**|**5,601**|**-**|**5,601**|
|**Funds**||||
|Balance at Bank|5,601||5,601|
|Account 1||||
|**Funds in Hand**|||**5,601**|
**5**
# **WELLSPRING OF GRACE CHURCH INTERNATIONAL**
# **ACCOUNTS FOR THE PERIOD ENDED 31 DECEMBER 2023 NOTES TO THE ACCOUNTS**
## **1. STATEMENT OF ACCOUNTING POLICIES**
The principal accounting policies of the Charity are set out below:
a) The Accounts are prepared under historical cost convention.
## **b) Tangible fixed assets**
Tangible Fixed Assets are stated at cost and depreciated over their expected lives or anticipated length of use by the Charity in order to write off the cost less estimated residual value. In the opinion of the charity officers, current value is more than its cost. Therefore, no depreciation is provided.
Land & Building 0% Straight Line Fixtures and fittings 15% Reducing Balance Motor vehicles 20% Reducing Balance
## **c) Income**
Income comprises the value of Donations and Gifts, sponsors, Tax refunds as well as Interest on Bank Account and VAT where appropriate.
## **d) Expenditure**
The expenses are inclusive of VAT where appropriate.
## **2. CASH IN HAND AND AT BANK**
|Cash in hand
Cash at Bank 1|**2024**
**£**
-
5,601|
|---|---|
||**5,601**|
## **3. INCOME**
|**. INCOME**||
|---|---|
|**Donations & Gifts**
Donations
**Total Income**|**2023**
**£**
5,601|
||**5,601**|
**7**
## **WELLSPRING OF GRACE CHURCH INTERNATIONAL**
## **ACCOUNTS FOR THE PERIOD ENDED 31 DECEMBER 2023 NOTES TO THE ACCOUNTS**
## **4. ADMINISTRATIVE EXPENSES**
## **2023 (£)**
|Accountancy Fees
App & Website Expenses
Charitable Donations
Legal & Professional Fees
Rent
Stationery and Printing
Sundry
Travelling|350
1,257
995
1,600
3,404
124
1
40|
|---|---|
||**7,771**|
**9**