GRACETHRONE INTERNATIONAL MINISTRY CHURCH
Charity no:1206509 (England and Wales)
Reports of the Trustees and Financial Statements for the Year Ended 31 August 2024
1
GRACETHRONE INTERNATIONAL MINISTRY CHURCH
Contents
Legal and Administrative Information 3
Report of the Church Trustee 4
8
Balance Sheet 9
Notes to the accounts 10
2
GRACETHRONE INTERNATIONAL MINISTRY CHURCH
Legal and Administrative Information
Minister:
Head Pastor : Bishop. Henry Addai Revd. Romeo Addai Revd. Desmond Alorka
Treasurer:
Bishop. Henry Addai (Chair) Revd. Romeo Addai Revd. Desmond Alorka Matthew Kingsley Addai (Treasurer)
Songs Ministration
Mrs Linda Asigbey ( Leader)
Banker: Lloyds Bank 149-153 High Road Woodgreen London N22 6EF
Address: 312 High Road London N15 4BN
3
GRACETHRONE INTERNATIONAL MINISTRY CHURCH
Report of the Church Trustees for the year ended 31 August 2024
Activities and Objectives
of the public, primarily through the holding of worship, prayer meetings, religious education, outreach work, producing and/or distributing literature on the Christian faith to enlighten others about the Christian faith.
Our Statement of Faith
We believe that the Bible is the inspired and infallible Word of God, serving as the ultimate authority for faith and life. We aMirm the existence of the Holy Trinity: God the Father, God the Son, and God the Holy Spirit.
We believe in the boundless love of God and strive to demonstrate His love by fostering unity and compassion within our church and community. As followers of Christ, we are called to be the light and salt of the world, exemplifying righteousness, mercy, and faithfulness.
Our Mission and Commitment
We seek to raise up disciples for Jesus Christ—a community who not only understands His teachings but also embodies them as role models in their homes, workplaces, and society. Our principal aim is to follow Jesus Christ wholeheartedly and grow both individually and collectively in His likeness.
We hold a deep passion for all people, regardless of race, background, or circumstance, ensuring that our fellowship is a welcoming and inclusive place for everyone. Our commitment is to nurture spiritual growth, provide pastoral care, and cultivate an environment where love, grace, and truth prevail.
The Trustees have held regular meetings during the past year to consider the pastoral care and the task of maintaining the worship services of the church and the day to day running of the building and finances.
4
GRACETHRONE INTERNATIONAL MINISTRY CHURCH
The Revd Henry Addai started the ministry of our church his ministerial position is supported by Associate pastor Revd Desmond Alorka and songs Ministration Leader Mrs Linda Asigbey.
Minister:
Head Pastor : Bishop. Henry Addai Revd. Romeo Addai Revd. Desmond Alorka
Trustees:
Henry Addai (Chair) Desmond Alorka Matthew Kingsley Addai (Treasurer) Romeo Addai
Trustees elected are elected to serve by the Church Meeting. Under the constitution of the GRACETHRONE INTERNATIONAL MINISTRY CHURCH, Trustees will also act as Trustees to the GRACETHRONE INTERNATIONAL MINISTRY CHURCH Charity.
Financial Review :
Incoming resources form oMering tithe and donation was £16,297 and Resources Expended is £19,003. Net deficit is (£2,724)
Achievements and performance
We continue to hold regular services and meetings in-person. Every Sunday starting at 11:30am to 2:30pm. The church attendance at Sunday services has continue to increase and we are planning to find a bigger venue for our
5
GRACETHRONE INTERNATIONAL MINISTRY CHURCH
congregation. We continue to welcome former members and new visitors to our services. We hope to develop further our congregation growth in prayer.
Future Activities
The Trustees wish to focus on:
Improving provision for pastoral care with the help of our ministers together with the members of the congregation.
Trying to identify mission and outreach in the local community and implementing them with the help of our minister.
Continue to improve and develop our Youth Ministry and Prayer Tower Making the sanctuary and the Meeting Space available for church-related activities during the week.
the church and to create a surplus of income over expenditure .
Risk Management Policy
The Church Trustees continually assess and manage risks that may impact the work and ministry of the church. Particular attention is given to:
ensuring transparency and accountability in all financial matters.
Compliance with relevant legal and regulatory requirements to uphold the integrity and credibility of the church.
The health, safety, and well-being of all members, staM, and visitors within our premises and at any church-led activities.
Safeguarding Policy: Protecting Children and Vulnerable People
We recognise our duty of care to safeguard and promote the welfare of children, young people, and vulnerable adults. As such, we are committed to:
Maintaining and implementing safeguarding procedures that align with current UK legislation and best practices.
6
GRACETHRONE INTERNATIONAL MINISTRY CHURCH
Ensuring all individuals working with children and vulnerable adults undergo appropriate background checks (including DBS checks where required).
Providing regular training for staM and volunteers to ensure they understand their responsibilities in safeguarding.
Establishing clear channels for reporting concerns regarding abuse, neglect, or exploitation, ensuring swift and appropriate action is taken in response.
Creating a culture of vigilance where safeguarding is embedded in all aspects of church life.
We believe that safeguarding is a collective responsibility and encourage all members to play their part in ensuring a safe and nurturing environment within our fellowship.
On behalf of the Church Trustees
Henry Addai (Chair)
7
Charity No GRACETHRONE INTERNATIONAL MINISTRY
1206509
Statement of financial activities for the period ended 31/08/2024
| Guidance Notes | Unrestricted funds |
Restricted income funds |
Endowment funds |
Total funds | |
|---|---|---|---|---|---|
| £ | £ | £ | £ | ||
| Incoming resources | |||||
| Income and endowments from: | |||||
| Offering | 5799 | 0 | 0 | 5799 | |
| Tithe | 5770 | 0 | 0 | 5770 | |
| Harvest | 0 | 0 | 0 | 0 | |
| Donations | 4710 | 0 | 4710 | ||
| Separate material item of income | 0 | 0 | 0 | 0 | |
| Other | 0 | 0 | 0 | 0 | |
| Total | 16279 | 0 | 0 | 16279 | |
| Resources expended (Note 6) | |||||
| Expenditure on: | |||||
| Rent and Church buiding costs | 6600 | 0 | 0 | 6600 | |
| Charitable activities | 6485 | 0 | 0 | 6485 | |
| Salary & Vonluntee costs | 2200 | 0 | 0 | 2200 | |
| Tithe to Parent church | 1930 | 1930 | |||
| Other-Admin Support costs | 1 | 1788 | 0 | 0 | 1788 |
| Total | 19003 | 0 | 0 | 19003 | |
| Net income/(expenditure) before investment | |||||
| gains/(losses) | (2724) | 0 | 0 | (2724) | |
| Net gains/(losses) on investments | 0 | 0 | 0 | 0 | |
| Net income/(expenditure) | (2724) | 0 | 0 | (2724) | |
| Extraordinary items | 0 | 0 | 0 | 0 | |
| Transfers between funds | 0 | 0 | 0 | 0 | |
| Other recognised gains/(losses): | |||||
| Gains and losses on revaluation of fixed assets for the charity’s own | 0 | 0 | 0 | 0 | |
| Other gains/(losses) | 0 | 0 | 0 | 0 | |
| Net movement in funds | (2724) | 0 | 0 | (2724) | |
| Reconciliation of funds: | |||||
| Total funds brought forward | 0 | 0 | 0 | 0 | |
| Total funds carried forward | (2724) | 0 | 0 | (2724) | |
| 1 |
8
Balance sheet as at 31/08/2024
| Fixed assets Cash at bank and in hand Total current assets Creditors: amounts falling due within one year 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 Restricted income funds Unrestricted funds Revaluation reserve Total funds Signed by trustee on behalf of all the trustees |
Notes 3 2 |
Unrestricted funds Restricted income funds Endowment funds Total this year £ £ £ £ 5211 0 0 5211 5211 0 0 5211 7935 0 0 7935 (2724) 0 0 (2724) (2724) 0 0 (2724) 0 0 0 0 0 0 0 (2724) 0 0 (2724) 0 0 0 0 (2724) 0 (2724) 0 (2724) 0 0 (2724) Signature Print Name Bishop. Henry Addai |
Unrestricted funds Restricted income funds Endowment funds Total this year £ £ £ £ 5211 0 0 5211 5211 0 0 5211 7935 0 0 7935 (2724) 0 0 (2724) (2724) 0 0 (2724) 0 0 0 0 0 0 0 (2724) 0 0 (2724) 0 0 0 0 (2724) 0 (2724) 0 (2724) 0 0 (2724) Signature Print Name Bishop. Henry Addai |
Unrestricted funds Restricted income funds Endowment funds Total this year £ £ £ £ 5211 0 0 5211 5211 0 0 5211 7935 0 0 7935 (2724) 0 0 (2724) (2724) 0 0 (2724) 0 0 0 0 0 0 0 (2724) 0 0 (2724) 0 0 0 0 (2724) 0 (2724) 0 (2724) 0 0 (2724) Signature Print Name Bishop. Henry Addai |
|---|---|---|---|---|
| Signature Print Name |
||||
| Bishop. Henry Addai | ||||
9
GRACETHRONE INTERNATIONAL MINISTRY CHURCH
Notes to the Accounts for the year ended 31 August 2024
ACCOUNTING POLICIES
Statement of Recognised Practice - Accounting for Charities (2015) and the Church Accounting Regulations 2006.
convention except for the valuation of investment assets, which are shown at market value.
Funds:
Unrestricted funds represent the funds that are not subject to any restrictions regarding their use and are available for use in furtherance of the objectives of the Church. Restricted funds are those donated for use in a particular area or for specific purposes.
The accounts include all transactions, assets and liabilities for which the Trustees are responsible in law. They do not include the accounts of church groups that owe their main aMiliation to another body nor those that are informal gatherings of Church members.
Incoming Resources:
Voluntary income and capital sources:
Collections are recognised when received by or on behalf of the Church. Grants and legacies to the Church are accounted for when the Church is notified of its legal entitlement and the amount due.
Resources used Grants:
Grants and donations are accounted for on an accrual’s basis. Activities directly relating to the work of the Church
The Ministry & Mission contributions are accounted for when payable .
10
GRACETHRONE INTERNATIONAL MINISTRY
| Notes to the accounts as at 31/08/2024 | Notes to the accounts as at 31/08/2024 |
|---|---|
| Accountancy Fees Software costs Total Note 2 Creditors and accruals Accruals -Accountancy fees Loans from Trustee Total Note 3 Cash at bank and in hand Cash at bank and on hand Other Total Note 1 Support Cost |
£ 1,500 288 1,788 31/08/2024 £ 1,788 6,147 7,935 31/08/2024 £ 5,211 - 5,211 |
11