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2024-03-31-accounts

Registered number 267230

The Church of God World-Wide Mission International (Pentecostal)

Report and Accounts

31 March 2024

The Church of God World-Wide Mission International (Pentecostal) Report and accounts Contents

Page
Charity Information 1
Trustees report 2
Independent auditors' report 5
Statement of financial activities 8
Balance sheet 9
Cash flow statement 10
Notes to the accounts 11
Detailed expenses 17

The Church of God World-Wide Mission International (Pentecostal) Charity Information

Trustees

Rev. Dr. Joel Thomas Mrs Una Jordan Rev. T Ramsay Pastor M Jones-Pope Mr Simon Watson Mr David James Mr Steve Jones Mr Godfried Nyamekyeh

Secretary

Mrs Beverley Young

Auditors

Jacksons First Floor Albion House Albion Street Hull HU1 3TE

Bankers

Barclays Bank UK PLC One Snowhill Snow Hill Queensway Birmingham B2 2XD

Registered office

The Globe 12 Portman Road Reading RG30 1EA

Registered charity number

267230

1

Church of God World-Wide Mission International (Pentecostal) Trustees Report for the year ended 31 March 2024

The Trustees present their report and financial statements for the year ended 31 March 2024.

The financial statements have been prepared in accordance with the accounting policies set out in the notes to the accunts and comply with the charity's governing document, the Charities Act 2011 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 published in October 2019.

General Information

Church of God Worldwide Mission (England) was registered as a charity on 27 September 1973 and renamed Church of God World Wide Mission International (Pentecostal) on 25 October 2006. The organisation is governed by the Rules and Constitution in accordance with the Articles of Faith dated the same as its registration.

Charity registration number: 267230

Address: The Globe 12 Portman Road Reading Berkshire RG30 1EA Trustees: Rev. Dr. Joel M. Thomas Mr. Michel Marquis (resigned on November 2024) Mrs. Una Jordan Mr. St Clair Boyce (resigned on November 2024) Mrs. Theresa Ramsay Mrs. Marjorie Jones-Pope Miss. Dawn Williams (resigned on November 2024) Mr. Simon Watson Mr. David James (appointed on November 2024) Mr. Steve Jones (appointed on November 2024) Mr. Godfried Nyamekyeh (appointed on November 2024)

Recruitment and appointment of trustees

Trustees are appointed at the Annual General Meeting at the recommendation of members of the charity.

The charity also seeks to identify those with the experience and calling to become trustees.

All trustees were appointed by the voting of all our Church volunteers and approved by our Senior Pastor.

There were three retiring trustees and three new recuits.in the period.

Public Benefit

In planning our activities this year we worked in accordance with the Charity Commission guidance on public benefit. We exist to serve all areas of our community which includes all age groups without discrimination and is without the distinction of sex, political or religious beliefs. We strive to promote social welfare and cohesion through the provision of pastoral services and cultural events so improving the social and physical wellbeing of the local community.

2

Church of God World-Wide Mission International (Pentecostal) Trustees Report for the year ended 31 March 2024

Mission and Vision

The primary objective of the Charity is to advance the Christian religion. The secondary objective is to be an organization that will positively impact the community and effect change.

Organisation

The Trustees are responsible for ensuring that Church of God World Wide Mission International fulfills its mission. The management of the Charity has been delegated to a full time Leader, a part time volunteer Administrator and the Executive Board.

The Trustees, Executive Board and Administrator attempt to meet quarterly and where necessary will meet for any Emergency Meetings.

There are a total of five churches that are active and working within the remits of the Constitution in the United Kingdom.

In accordance with our aims, mission and objectives there is representation of the Organisation in several countries: Barbados, St Vincent and The Grenadines, Jamaica, Nigeria, Sierra Leone, Martinique, Guyana, Grenada and St Lucia. These units are compliant within the remits of the country in which they reside and overall the Bishops situated in the relevant country undertake supervision.

Financial Review

The Charity generated a profit of £19,992 for the financial year. At 31 March 2024, the Charity held £3,283,344 in unrestricted funds.

Reserves policy

Reserves are needed to bridge the gap between the spending and receiving of income and to cover unplanned emergency repairs and other expenditure.

The trustees regularly review the level of reserves they consider necessary to enable the charity to operate for the foreseeable future.

Available Reserves, which are the the unrestricted funds less amounts tied up in fixed assets net of loans amounted to £220,816.

Progress Review

Church of God World Wide Mission International, consistently reviews its Operational and Management Structure, exploring avenues that aid and support the Organization moving forward and excelling within its field, ensuring compliance with the requirements of the Charity Commission.

A National Convention was held from 28 July to 30 July. This included Seminars, Youth Session with a singspiration and preaching of the Word of God. Truly an inspirational and motivational time.

Each year we dedicate a day of Fasting and teaching to which all are included. This is now held on the first Saturday of November each year. This year we decided to combine the AGM for cost efficiency and a better use of time. This was held on 4th November 2023 and proved to be a more efficient process and use of time.

3

Church of God world.wlde Mlsslon Internatlonal {Pentacostall Trustees Report for the year ended 31 March 2024 The Organization is sdf-SLrfficienl and gives SUPPOrt lo up and coming churches and has given gifts where appropriate. 11 is not8d that there has been a steady growth with intgr¢$ts of membership and affiliation. Registered inler8sts are presented lo the Executive Board for formal process and agreement. The Executive Board has ¢ontinued lo operate with 12 members. with representallon from each assembly. The 8xecutivè board meets regularly lo discuss any Ghanges and needs the organizalion may have. The Statement of Financial Affalrg Includes the Income and Expenditure for the 12-month period. Donations are made lo individual churches, departments and organizatlons both in the United Qngdom aTKt overseas. directly involv¥d in either Chrislian work. relief work or wlhin the communty and whose objectives Ihe Ex8culive Board consider to be in keeping with those of the church. Relevant training has been carded out throughout thls year with focusing on our proc8sses and financial procedLbre. This was revisited lo ensure Ihot our systems are reflgGting excellence. Therg W9rg a number of volunt88rs, exduding trustees, Ihrroughoul the year who aidgd in the running of the Charity. Tru$t¢e$' resonsibilltles Law appli￿ble to charities in England and W81es requires the Trustees to prepare financlal slalements for each year. which gives a tru8 and fabr vlew of the charills financial activiti8s during the period and of its finanGial position at the end of the year. In preparing financial ststements giving a true and fair wew, the trustee5 Should follow best pr8ctic8 and.. select suitable accounting policies and then apply them ¢onsistènUy, obsere the methods and principles in the Charities SORP make judgment and eslimales that are rea5(￿able and prudent., and slate whether applicable UK Accounting Standards have been followed subject to any materS8l departures disclosed and explained in the financial stalem8nts prepare the financial statements on the going concem basis unl&ss il is inappropriate to assume that the chanty wll continue in business. The Trustees are responslble for. keeping adequate accountlng records Ihal are suffucient to show and explain the charity's transactions and di3close ¥Mth r8asonable accuracy at any lime Ihe financlal posthon of the charity and enable them lo ensure that the financial statements comply th th8 Charities Act. They are also re5ponsibl8 for safeguarding the assets of the Charty and hence for taking reasonable step5 for the prevention and deteclicm of fraud and other irregularitie$. Rev. Dr. Joel M. Thomas. TH.D.. D. D, D. Mln Chairman of Trustees 16 December 2024

Church of God World-Wide Mission International (Pentecostal) Trustees Report for the year ended 31 March 2024

The Organization is self-sufficient and gives support to up and coming churches and has given gifts where appropriate. It is noted that there has been a steady growth with interests of membership and affiliation. Registered interests are presented to the Executive Board for formal process and agreement.

The Executive Board has continued to operate with 12 members, with representation from each assembly. The executive board meets regularly to discuss any changes and needs the organization may have.

The Statement of Financial Affairs includes the Income and Expenditure for the 12-month period.

Donations are made to individual churches, departments and organizations both in the United Kingdom and overseas, directly involved in either Christian work, relief work or within the community and whose objectives the Executive Board consider to be in keeping with those of the Church.

Relevant training has been carried out throughout this year with focusing on our processes and financial procedure. This was revisited to ensure that our systems are reflecting excellence.

There were a number of volunteers, excluding trustees, thrroughout the year who aided in the running of the Charity.

Trustees' resonsibilities

Law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each year, which gives a true and fair view of the charity’s financial activities during the period and of its financial position at the end of the year. In preparing financial statements giving a true and fair view, the trustees should follow best practice and:

The Trustees are responsible for: keeping adequate accounting records that are suffucient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the 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.

Rev. Dr. Joel M. Thomas, TH.D., D. D, D. Min Chairman of Trustees

16 December 2024

4

Church of God World-Wide Mission International (Pentecostal)

Independent auditors' report

to the members of Church of God World-Wide Mission International (Pentecostal)

Opinion

We have audited the financial statements of Church of God World-Wide Mission International (Pentecostal) for the year ended 31 March 2024 which comprise the Statement of Financial Activities, the Statement of Financial Position, the Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable charity's trustees those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed.

In our opinion the financial statements:

Basis of opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the entity's ability to continue as a going concern for a period of at least twleve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to the going concern are described in the relevant sections of the report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the trustees' annual report other than the financial statements and our auditor's report thereon. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

5

Church of God World-Wide Mission International (Pentecostal) Independent auditors' report to the members of Church of God World-Wide Mission International (Pentecostal)

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with regulations made under section 154 of that Act.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

As part of the planning process:

We enquired of the trustees the controls the charity has in place, the areas of the financial statements that are susceptible to the risk of fraud or irregularities and whether there has been any known, suspected or alleged fraud.

We obtained an understanding of the legal and regulatory framework applicableto the charity.

We considered the incentives and opportunites that exist within the charity for management bias to override any controls.

Using ourknowledge of the charity , together with dicussions held at the planning stage, we formed a conclusion on the risk of misstatements due to irregularities.

6

Church of God World-Wide Mission International (Pentecostal) Independent auditors' report to the members of Church of God World-Wide Mission International (Pentecostal)

The key procedures we undertook to detect irregularities including fraud during the course of the audit included:

Identifying and testing the journal entries and the overall accounting records. In particular any significant or unusual items.

Reviewing the financial statements disclosures and determining whether accounting policies have been appropriately applied.

Reviewing and challenging the assumptions and judgements used by the trustees in their significant accounting estimates.

Assessing the extent of compliance, or lack of, with the relevant laws and regulations.

Testing key income streams.

Performing verification of key assets.

Obtaining third party confirmation of material balances.

Scrutinising the acocunting records for related party balances and transactions.

Reviewing trustee board minutes.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements even though we have properly planned and performed our audit in accordance with the auditing standards. The primary responsibility for the prevention and detection of fraud rests with the trustees.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Jacksons is eligible for appointment as auditor of the charity by virtue by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

Mark Jackson BA FCA First Floor (Senior Statutory Auditor) Albion House for and on behalf of Albion Street Jacksons Hull Accountants and Statutory Auditors HU1 3TE 16 December 2024

7

The Church of God World-Wide Mission International (Pentecostal) Statement of financial activities for the year ended 31 March 2024

Income and endowments from:
Gift aid
Tithes and offerings
Other income
Rent
Interest received
Total incoming resources
Expenditure on:
Direct expenses
Employee costs
Premises costs
General administrative expenses
Legal and professional costs
Interest payable
Total expenditure
Net income/(expenditure)
Total funds brought forward
Total funds carried forward		 2024
£
52,704
446,828
-
63,982
665
564,179
51,624
155,211
97,443
80,176
11,173
148,560
544,187
19,992
3,263,352
3,283,344		 2023
£
51,630
388,717
5,785
69,337
218
515,687
62,291
148,766
79,175
157,205
6,818
99,614
553,869
(38,182)
3,301,534
3,263,352

8

The Church of God World-wide Misslon International (Pentecostal) Balance Shoot as at 31 March 2024 Notes 2024 2023 Fixed a$$•ts Tangible assets 5.014,666 5,018.753 Current ass•t$ Debtors Cash at bank and in hand 10 65,475 265.447 330.922 49,162 258,104 307,266 Credltors: amounts falllng duo wlthln one year 11 1149.7S3) 174,067) Net current assets 181,169 233,199 Total asset$ less Current liabilltles 5.195.835 5.251.952 Craditors: amounts falling due after more than ono year 12 (1.912,491} {1,988,6001 assets 3.283,344 3,263.352 Capital and ro$erves Unrestricted funds 14 3,283,344 3.263.352 Total charity funds 3,283.344 3.263.352 Approved by the board on 16 Deeember 2024 and signed on their behalf.by'. Reverend Joel Thomas Chairman

The Church of God World-Wide Mission International (Pentecostal) Balance Sheet as at 31 March 2024

Notes
Fixed assets
Tangible assets
9
Current assets
Debtors
10
Cash at bank and in hand
Creditors: amounts falling due
within one year
11
Net current assets
Total assets less current
liabilities
Creditors: amounts falling due
after more than one year
12
Net assets
Capital and reserves
Unrestricted funds
14
Total charity funds		 2024
£
5,014,666
65,475
265,447
330,922
(149,753)
181,169
5,195,835
(1,912,491)
3,283,344
3,283,344
3,283,344		 2023
£
5,018,753
49,162
258,104
307,266
(74,067)
233,199
5,251,952
(1,988,600)
3,263,352
3,263,352
3,263,352

Approved by the board on 16 December 2024 and signed on their behalf by:

Reverend Joel Thomas Chairman

9

The Church of God World-Wide Mission International (Pentecostal) Cash Flow Statement

for the year ended 31 March 2024

Cash generated from operations
Net Income
Reconciliation to cash generated from operations:
Depreciation and (profit)/loss on sale of fixed assets
(Increase)/decrease in debtors
Increase/(decrease) in creditors
Cash generated of financing activities
Repayment of amounts borrowed
Cash generated from investing activities
Purchase of tangible fixed assets
Proceeds from sale of tangible fixed assets
Net increase/(decrease) in cash
Cash at bank and in hand less overdrafts at 1 April
Cash at bank and in hand less overdrafts at 31 March
Consisting of:
Cash at bank and in hand
Overdrafts
Changes in net debt
Secured loans
Brought forward
Repayments
Carried forward		 2024
£
19,992
5,687
(16,313)
75,442
84,808
(76,109)
(76,109)
(1,600)
-
(1,600)
7,099
252,014
259,113
265,447
(6,334)
259,113
2,028,247
(76,109)
1,952,138		 2023
£
(38,182)
8,145
369
(4,738)
(34,406)
(86,352)
(86,352)
(8,570)
-
(8,570)
(129,328)
381,342
252,014
258,104
(6,090)
252,014
2,114,599
(86,352)
2,028,247

10

The Church of God World-Wide Mission International (Pentecostal) Notes to the Accounts for the year ended 31 March 2024

1 Accounting policies

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows.

Basis of preparation

The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) issued in October 2019 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS102) and the Charities Act 2011 and UK Generally Accepted Practice.

The accounts (financial statements) have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. This departure has involved following Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

These financial statements show the results and activities of the Reading , Fulham, Eastbourne and International churches.

Income

Rents, Gift aid, Other income and interest received are accounted for on an accruals basis. Tithes and offerings are accounted for when received, unless conditions for receipt justify earlier recognition.

Expenditure

Costs are accounted for on an accruals basis.

Costs of generating funds comprise the costs associated with attracting voluntary income.

Charitable expenditure comprises of those costs incurred by the charity in the deliverance of its activities and services for the beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include audit fees and costs linked to the strategic management of the charity.

All costs are allocated between the expenditure categories of the Statement of Financial Activities on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, others are apportioned on an appropriate basis.

Fund accounting

Unrestricted funds are available to spend on activities that further any of the purposes of charity. All funds are unrestricted.

11

The Church of God World-Wide Mission International (Pentecostal) Notes to the Accounts for the year ended 31 March 2024

Going concern

The accounts have been prepared using the going concern basis which assumes the Charity will continue in operational existence for the foreseeable future.

The Charity made a surplus for the year of £19,992 and at the year end had unrestricted funds of £3,283,344. Projections prepared by the Charity for the next twleve months show a surplus.

However, the loan with Barclays Bank PLC fell due for repayment in November 2024, and this currently amounts to £1.9 million. The bank has agreed to extend the facility for a further twelve months.

Over the next twelve months, therefore, the Charity has to seek new loan facilities to replace the Barclays Bank loan when the facility ends.

Should new facilities not be arranged, the Charity would be forced to sell Charity properties to enable repayment of the facility. The book value of the freehold propoerties is £4.975 million. Although a forced sale would be likely to occur at a discount to full value, the Charity considers the current book values to be conservative.

The Trustees expect that alternative loan facilities will be available, and consider that the going concern principle should be applied.

Depreciation

Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Plant and machinery over 15 years straight line Motor vehicles over 15 years straight line

Taxation

The charity has received exemption under section 505 of the Income and Corporation Taxes Act 1988.

Freehold property

Freehold property is shown at cost. Freehold buildings are depreciated over their estimated useful lives to their residual value, but as their residual value equates to cost there is no charge.

Financial Instruments

The company has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

Debtors

Debtors are recorded at transaction value, unless there is some doubt as to their recovery, then they are reduced to their recoverable amount.

Liabilities

Liabilities are initially recorded at their transaction value and subsequently measured at their settlement value.

12

The Church of God World-Wide Mission International (Pentecostal) Notes to the Accounts for the year ended 31 March 2024

2 Critical accounting estimates and judgements

The preparation of financial statements requires the use of certain accounting estimates. It also requires the Trustees to exercise judgement in applying the charity's accounting policies. The areas requiring a higher degree of judgement, or complexity, and areas where assumptions or estimates are most significant to the financial statements, are disclosed below.

Impairment of and valuation of freehold property

The Trustees review the value of buildings on an annual basis, and make sure that all repairs and maintenance have been completed, to check there has been no impairment.

3 Constitution

The Church of God Worldwide Mission International (Pentecostal) is a charity registered in England and Wales, number 267230, and was formed under the Articles of Faith dated on 27 September 1973.

It is a public benefit entity.

The registered address is per the trustees report.

4
Net income/(expenditure)
This is stated after charging/(crediting):
Auditors' remuneration
5
Governance costs
Salaries and allowances
Motor expenses
Premises costs
Office overheads
Insurance
Accountancy fees
Audit fees
Bank charges
Other expenses
Depreciation		 2024
£
4,200
2024
£
136,625
18,586
87,062
8,072
32,266
5,218
4,200
3,677
6,409
5,687
307,802		 2023
£
4,200
2023
£
133,721
15,045
76,227
18,369
31,561
2,618
4,200
3,197
2,961
8,145
296,044

13

The Church of God World-Wide Mission International (Pentecostal) Notes to the Accounts for the year ended 31 March 2024

6
Interest payable
Interest payable
7
Salaries and allowances
Salaries and wages
Social security costs
Pension		 2024
£
148,560
2024
£
134,685
946
994
136,625		 2023
£
99,614
2023
£
131,465
1,262
994
133,721

The average number employed by the charity in the year was 4 (2023 - 4).

8 Trustees remuneration and expenses and related party transactions

The Reverend Joel Thomas has served as a pastor to the Church since 1994. His total remuneration for the year was £63,342 (2023- £63,342). The authority for this was the charity's governing document and the trustees. In addition, expenses incurred of £680 were reimbursed in the performance of his duties on behalf of the charity.

Pastor T Ramsay received a salary of £22,500 in the year ( 2023 - £22,500).

At the year end £23,864 (2023 - £17,857) was due from Community Projects, a related ganisation. This loan is interest free. £6,007 was advanced in the year. Rent of £12,000 was received from this organisation in the year.

9 Tangible fixed assets

Cost
At 1 April 2023
Additions
At 31 March 2024
Depreciation
At 1 April 2023
Charge for the year
At 31 March 2024
Net book value
At 31 March 2024
At 31 March 2023		 Freehold
property
£
4,975,425
-
4,975,425
-
-
-
4,975,425
4,975,425		 Plant and
machinery
£
129,207
1,600
130,807
101,075
4,351
105,426
25,381
28,132		 Motor
vehicles
£
63,469
-
63,469
48,273
1,336
49,609
13,860
15,196		 Total
£
5,168,101
1,600
5,169,701
149,348
5,687
155,035
5,014,666
5,018,753

14

The Church of God World-Wide Mission International (Pentecostal) Notes to the Accounts

for the year ended 31 March 2024

10 Debtors
Gift aid
Other debtors
11 Creditors: amounts falling due within one year
Bank loans and overdrafts
Other taxes and social security costs
Other creditors
12 Creditors: amounts falling due after one year
Bank loans
13 Loans
Creditors include:
Secured bank loans
Community Project		 2024
£
20,257
23,864
21,354
65,475
2024
£
45,981
1,255
102,517
149,753
2024
£
1,912,491
2024
£
1,952,138		 2023
£
23,929
17,857
7,376
49,162
2023
£
45,737
4,960
23,370
74,067
2023
£
1,988,600
2023
£
2,028,247

The loan is secured on the freehold property of the charity. Interest was charged at 2.5% over the base rate during the year.

The loan facility fell due for repayment in November 2024, however, the bank has agreed to extend the facility for a further twelve months.

14 Unrestricted funds
At 1 April 2023
Net movement in fund
At 31 March 2024		 2024
£
3,263,352
19,992
3,283,344

15

The Church of God World-Wide Mission International (Pentecostal) Notes to the Accounts

for the year ended 31 March 2024

15 Individual Churches

The individual churches in full connection with and using the same registered charity number as the Church of God Worldwide Mission are

Dulwich

High Wycombe

The above bodies prepare their own accounts.

The accounts of these Churches are not material to the results of the charity and have never been included in the charity's financial statements.

16 Volunteers

Various people volunteer to assist in all aspects of the charities work. They assist the church's leaders with the maintenance of the church's assets and the daily running of the church.

17 Presentation Currency

The accounts are presented in Pounds Sterling, the functional currency of the charity.

16

The Church of God World-Wide Mission International (Pentecostal) Detailed expenses for the year ended 31 March 2024

Direct expenses
Ministry costs
Sound engineer
Other direct costs
Administrative expenses
Employee costs:
Wages and salaries
Motor and travel
Premises costs:
Service charges
Rates, light and heat
Cleaning
General administrative expenses:
Telephone and fax
Stationery and printing
Bank charges
Insurance
Equipment hire
Software
Repairs and maintenance
Depreciation
Sundry expenses
Legal and professional costs:
Audit fees
Accountancy fees
Solicitors fees		 2024
£
50,017
-
1,607
51,624
136,625
18,586
155,211
3,600
83,462
10,381
97,443
21
2,484
3,677
32,266
5,567
380
23,685
5,687
6,409
80,176
4,200
5,218
1,755
11,173
344,003		 2023
£
55,261
2,257
4,773
62,291
133,721
15,045
148,766
16,888
59,339
2,948
79,175
6,953
1,030
3,197
31,561
10,386
427
92,545
8,145
2,961
157,205
4,200
2,618
-
6,818
391,964

17