## _**GRACETHRONE INTERNATIONAL MINISTRY CHURCH**_
## _**Charity no:1206509 (England and Wales)**_
Reports of the Trustees and Financial Statements for the Year Ended 31 August 2024
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# _**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
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## _**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._
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## _**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_
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## _**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._
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## _**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)_
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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||||||
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## **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_**|
||||||
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## _**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_ .
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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|
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