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2024-03-31-accounts

MIRACLE COCilC ST MArrHEw2 MIRACLE CHURCH OF GOD IN CHRIST MIRACLE CHURCH OF GOD IN CHRIST TRUSTEES, REPORT AND AUDITED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

MIRACLE CHURCH OF GOD IN CHRIST LEGAL AND ADMINISTRATIVE INFORMATION FOR THE YEAR ENDED 31 MARCH 2024

TRUSTEES: Francis Vaughan Sylvester Kavalo Eutis Marshall Delroy Samuels Abiola Agemoh-Davies Gwendolyn Young CHARITY NUMBER: 291224 COMPANY REGISTRATION NUMBER: 14022328 PRINCIPLE ADDRESS: 36-38 Alexandra Road Bedford MK40 1JB AUDITOR: Bennett Verby Ltd 7 St Petersgate Stockport SK1 1EB BANKERS: Lloyds Bank 34 High Street Bedford MK40 1SB

2

MIRACLE CHURCH OF GOD IN CHRIST CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

Page
Trustees’ Report 4-6
Independent Auditor’s Report 7-9
Statement of Financial Activities 10
Balance Sheet 11
Notes to the Account 12-17

3

MIRACLE CHURCH OF GOD IN CHRIST TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2024

The Trustees are pleased to present their report and accounts for the year ending 31 March 2024. The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the Church’s Trust Deed, the Companies Act 2006, The Charities Act 2011 and the Statement of Recommended Practice applicable to charities preparing accounts in accordance with the Financial Reporting Standard applicable in UK and Republic of Ireland (FRS102) issued in January 2019.

By the Grace of God and the continuing help of our supporters we were able to meet many of our objectives for the year and take on some additional responsibilities.

We reiterate our mandate as contained in the Trust document:

Structure, Governance and Management

The church was established by a Charitable Trust Deed on 23 January 1985 and registered as a limited company by guarantee on 4 April 2022. The Trustees also serve as the directors of the company.

The members of the Trustees who served during the year were: - Mr Francis Vaughan - General Overseer and Chair of Trustees Mr Sylvester Kavalo Mrs Lynn Ashman (resigned 1 March 2024) Mrs Eutis Marshall Mr Delroy Samuels Mrs Abiola Agemoh-Davies Ms Gwendolyn Young

Recruitment and Appointment of Trustees

Existing trustees by resolution, appoint new trustees at planned meetings. The Board of Trustees, which make the financial and management decisions oversee the activities of the church. The spiritual and educational guidance of the congregation is delegated to the pastors, elders and departmental leaders who are appointed by the Board.

Trustees Inductions and Training

All trustees are familiar with the workings of the church and charity being drawn from long-standing members that have a skill set to offer and empathy with our core values.

New trustees are invited and encouraged to attend a short training session led by the Chair of the Board and the Treasurer. This will cover:

4

MIRACLE CHURCH OF GOD IN CHRIST TRUSTEES’ REPORT FOR THE YEAR ENDING 31 MARCH 2024

An information pack has been prepared drawing from various Charity Commission publications signposted through the commission’s guidelines and is given to the new Trustees together with the latest financial statements and the governing documents. Additionally, all trustees are encouraged to attend training seminars provided by other external organisations.

Staff and Volunteers

The effort, commitment and skills of our staff and volunteers are the heart of our charity. New staff attend a full induction programme including familiarisation with our various policies and procedures such as our Health and Safety Policy. Some of our long-standing staff and volunteers have worked with us for considerable number of years contributing to time and skills to the charity. We have so many of our members volunteer to help in different areas of our community outreach programmes.

Mission and Objectives

At the core of Miracle Church's mission is advancing Christian and charitable purposes, emphasising education in the fundamental principles of Christian morality. Currently overseeing Bedford, Northampton, Jamaica, Ghana, and Barbados congregations, the charity is committed to addressing each community's diverse needs.

Miracle Church's Missions and Objectives are achieved through a diverse range of activities. These include our weekly church worship services, prayer meetings, Sunday School, Youth Meetings, and outreach programmes, all designed to meet the spiritual needs of the church and the broader communities we serve. In addition, we organize a variety of activities through our ministries, catering to the development of men, women, and young people, as well as other activities to meet the individual needs of the people we serve.

As a proud member of the Evangelical Alliance, Miracle Church actively engages with local organizations such as the Bedford Ecumenical Committee, Bedfordshire University Chaplaincy, and HOPE Bedfordshire. This active engagement is a testament to the church's commitment to positively impacting society. Through these partnerships, we have been able to [specific impact], and it's something we can all be proud of.

Milestones and Celebrations

Our Annual 62[nd] International Convention commenced on Friday, 21st July - Sunday, 23rd July 2023. The theme of that International Annual Convention was “Our Responsibility to our World” St Matthew 25:37. An enduring highlight of the International Convention was the Ordination Service on Sunday, 23rd July 2023, where the following ministers of God were ordained: -

Pastor Peter Stapleton – Miracle Church of God in Christ: Superintendent (Within the Miracle Church of God in Christ.)

Pastor Peter Bruce – Victory Pentecostal Church, Aylesbury: Bishop (Within the Victory Pentecostal Church.)

Friends, families, and the wider church community were all part of this joyous celebration. The church's unwavering commitment to unity and community engagement was palpable at this event, especially during the joint national choir performance. This performance brought together past and present members, fostering a sense of inclusivity and shared faith and purpose.

Community Engagement and Impact

Miracle Church’s commitment to community outreach is exemplified by its Christmas Community Meal and the successful Holiday Club organised by the Sunday School and Youth Department. These endeavours have united the community and birthed a church and community choir, fostering connections among children and young people across Bedford.

The women’s department was pivotal in community building through various events, including fundraisers, bazaars, coffee mornings, and an impactful womens’ conference. This conference emphasised spiritual and

5

MIRACLE CHURCH OF GOD IN CHRIST TRUSTEES’ REPORT FOR THE YEAR ENDING 31 MARCH 2024

practical encouragement, notably promoting entrepreneurship among women in the community.

Extended Outreach Initiatives

Miracle Church has expanded its impact through a breakfast club in partnership with a local primary school, providing over sixty breakfast packages to pupils. The Tuesday drop-in sessions and participation in the National Warm Space initiative have extended the church’s reach, supported by the Bedford Borough Council.

Continuing its commitment to spiritual, emotional, and physical support, Miracle Church contributes to established food banks, offering services to at-risk individuals and families, focusing on the elderly, children in need, and those with additional needs.

Risk Management and Safeguarding

Miracle Church has implemented robust financial and operating procedures to ensure operational efficiency and resilience. The charity remains dedicated to continuous risk assessment, with a heightened focus on safeguarding, considering it a top priority.

Future Endeavour’s

Looking ahead, Miracle Church envisions furthering its mission through the following strategic areas:

  1. Advancement of Christian Gospel: Through diverse activities such as church services, Bible Study, prayer meetings, conferences, conventions, and evangelistic outreaches.

  2. Organizational and Leadership Development: Empowering members through training and development to foster spiritual growth and leadership skills.

  3. Expanded Charitable Initiatives: Addressing the impending cost of living crisis and other community issues through widened charitable efforts.

  4. Sunday School and Youth Department Development: Encouraging spiritual growth and development among the younger members.

  5. Planned Summer School: Encompassing education, social development, music, arts and crafts, life skills, health and well-being training, and cultural and heritage projects.

  6. Establishment of a Food Bank and Social Outreach: The Church is in the process of establishing a food bank after the success of the school's breakfast club

  7. Digital Media Utilisation: Increasing digital media usage and training to inspire young people to use technology to promote the gospel.

Miracle Church remains steadfast in its commitment to empowering lives, fostering unity, and positively impacting communities. Through strategic initiatives and unwavering dedication, the church aims to continue its transformative journey for years.

Conclusion

We, the trustees of the Miracle Church of God in Christ, according to the commission given to us in St. Matthew 28: 19-20 endeavour to serve the people in the church, community and overseas.

We thank you for your support in helping us to accomplish this work. On behalf of the Board of Trustees:

Bishop Francis Vaughan Chairman

Dated: 29 January 2025

6

MIRACLE CHURCH OF GOD IN CHRIST INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS FOR THE YEAR ENDED 31 MARCH 2024

Opinion

We have audited the financial statements of Miracle Church Of God In Christ (‘the charitable company’) for the year ended 31 March 2024 which comprise of the statement of income and retained earnings, the balance sheet, and notes to the financial statements, including 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 Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for 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 charitable 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 12 months from when the financial statements are authorised for issue.

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

Other information

The other information comprises the information included in the annual report, including the trustees’ report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

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 course of 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 this gives rise to a material misstatement in the financial statements themselves. 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.

7

MIRACLE CHURCH OF GOD IN CHRIST INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS FOR THE YEAR ENDED 31 MARCH 2024

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report included within the trustees’ report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement set out on pages 4-6, the trustees (who are also the directors of the charitable company for the purposes of company law) 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 trustees 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 company’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 company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

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:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

8

MIRACLE CHURCH OF GOD IN CHRIST INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS FOR THE YEAR ENDED 31 MARCH 2024 protection. anti-bribery. employment, environmental and health and safety legislation.. identified law5 and regulations were communicated within the audit team regularly and the team rem3inÈd alert to instances of non-compliance throu8hout the audit., Wt assessed the susceptibility of the company's fTnancial staternents to material misstatement, including obtalning an understanding of how fraud mi8ht occur, bv.. making enouiries of mana8ement as to whether they considered there was SUSLeptibility to fraud, their knowledge ol actual, suspected and alleged fraud., considering the internal contro15 in place to mitigate risks of fraud and non-compliance with laws and regulations To addre55 the risk of fraud through management bias and override ol controls, we.. performed analytic31 procedure5 to identify 2nd unusual or unexpected relationship5.' tested journal entries to identify unusual transactions., assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bia5.' investighted the rationale behind significant or unusual transattions In response to the risk of irregularities and non-complian￿ with laws and regulation5, we designed procedures which included but were not limited to.. agreeing financi31 statement disclosures to underlying Supporting documentation,. reading the minutes of meetings of rhose charge.d with governance., enquiring of management as to attual and potential litigation 3nd claims., reviewin8 correspondence with HMRC, relevant regulators and the company's legal advisors. There Bre inherent limitations in our audit procedures described above. The more removed that law5 and regulations are from financial transactions. the less likely it is that we would become aw3re ol non-compliance. Auditing st3nd3rd5 also limit the audit procedures required to identify non-compliance with lawq and regul6tion5 to en9uiry ol the directors and other management and rhe inspection of regulatory and legal corre4poniJence, il any. Material mirstatements thèt arise due to fiaud can be harder to detect than those that arise from error as they may involv (Jeliberate conce31ment or collusion. A further description of our respon51t)ilitie5 15 available on the Financial Reportin8 Council's website èt.. www.frc.org.uklauditorsresponsibilities. This description forms p3rt of our auditor's report. Use of our re This report 15 rnhde 501ely to the Charitable company'5 members, a5 a body, in accordance with Chapter 3 01 Part 16 01 the Companies Act 2(￿)6. Our audit work has been undertaken 50 that we might State to the charit3ble company's membp.rs those matters we are required to State to thern in an auditor's report and for no other purpose To the fullest extent pprmittecl by law, we do not accept or assume responsibility to anyone other than the ch3ritable company 2nd the charitable ctsmpanrfs members as a body, for our audit work, for thi5 report, or for the opinions WÈ have formed. 8ern3rd Verby (Senior Statutory Auditorl For and on behalf of Bennett Verby Ltd, Statutory Auditor 7 St PetersKaie Stockport Cheshire SKI IEB 29 January 2025

MIRACLE CHURCH OF GOD IN CHRIST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024

Incoming resources
Income and endowments from:
Donations and legacies
Charitable activities
Investments
Total incoming resources
Resources expended
Expenditure on:
Raising funds
Charitable activities
Governance costs
Total resources expended
Net income/(expenditure)
Other recognised gains/(losses):
Loss on disposal of fixed assets
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 Notes
2
3
4
5		 Unrestricted
Funds
£
167,812
2,959
108,979
279,750
78,966
202,620
6,600
288,186
(8,436)
-
(8,436)
3,497,819
3,489,383

Restricted
Funds
£
-
-
-
-
-
-
-
-
-
-
-
-
-		 Total
2024
£
167,812
2,959
108,979
279,750
78,966
202,620
6,600
288,186
(8,436)
-
(8,436)
3,497,819
3,489,383

Total
2023
£
145,279
4,953
98,839


249,071






41,453
181,960
1,250
224,663


24,408
160
24,248
3,473,571
3,497,819

10

MIRACLE CHURCH OF GOD IN CHRIST BALANCE SHEET

AS AT 31 MARCH 2024

Fixed assets
Tangible assets
Current assets
Debtors
Investments
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
Total net asset /(liabilities)
Funds of the Charity
Unrestricted funds
Revaluation reserve
Total funds		 Notes
12
13
14
15
17
17		 Unrestricted
Funds
£
3,978,371
41,742
17,306
150,435
209,483
11,670
197,813
4,176,184
4,176,184
1,325,169
2,851,015
4,176,184		 Restricted
Funds
£
-
-
-
-
-
-
-
-
-
-
-
-		 Total
2024
£
3,978,371
41,742
17,306
150,435
209,483
11,670
197,813
4,176,184
4,176,184
1,325,169
2,851,015
4,176,184		 Total
2023
£
3,301,879
34,276
17,306
156,221
207,803
11,863
195,940
3,497,819
3,497,819
1,331,804
2,166,015
3,497,819

Approved and authorised for issue by the Trustees on 29 January 2025 and were signed on its behalf by:

Bishop Francis Vaughan Chairman

11

MIRACLE CHURCH OF GOD IN CHRIST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

1.1 Basis of preparation

The accounts have been prepared under the historical cost convention modified to include the revaluation of certain fixed assets.

The accounts have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with Financial Reporting Standards applicable in the United Kingdom and Republic of Ireland (FRS 102) issued in October 2019 and The Charities Act 2011 and UK Generally Accepted Accounting Practice as it applies from1 January 2019.

1.2 Incoming resources

Income, including that gifted under the Gift Aid Scheme, is taken into account when received by the Charity. Income received in circumstances where a claim for repayment of tax has been or will be made to the H M Revenue & Customs is grossed up for tax recoverable. Any amounts of tax not yet reclaimed from H M Revenue & Customs is shown within the Charity's debtors. Interest and Rental Income are taken into account when receivable.

1.3 Resources expended

Expenditure is taken into account when incurred by the Charity regardless of when payment is made and is allocated to appropriate heading in the accounts. Grants and Donations payable are taken into account at the earlier of when they are paid or become constructive obligation of the Charity.

1.4 Tangible fixed assets and depreciation

Tangible Fixed Assets other than Freehold Property are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life, as follows:

Freehold property -
Fixtures, fittings & equipment 10% - 25% on cost
Motor vehicles 25% on Cost
Computer equipment 33.33% on cost

1.5 Investments

Current Asset Investments are stated at market value.

1.6 Commitments for future expenditure

Other than normal commitments under Contracts of Employment, there are no contractual obligations to future expenditure at Balance Sheet date. Where the Trustees have authorised expenditure, which is not legally enforceable or become constructive obligations, amounts are set aside into funds designated for the purpose.

12

MIRACLE CHURCH OF GOD IN CHRIST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

2 Donations and legacies

Donations and gifts
Charitable activities
Church activities		 2024
£
167,812
2024
£
2,959		 2023
£
145,279
2023
£
4,953

3 Charitable activities

4
Investment
Rental income
Interest received		 2024
£
106,553
2,426
108,979		 2023
£
98,071
768
98,839

The income from Donations and gifts was £167,812 (2023: £145,279) of which £167,812 (2023: £145,279) was unrestricted and £0 (2023: £0) was restricted.

Total resources expended
Charitable activities
Church activities:
Activities directly undertaken
Donations, grants and gifts
Support costs
Total
Raising funds
Provision of social housing
Governance costs
Independent examiners fees		 Other
Costs
£
71,819
9,718
121,083
202,620
78,966
281,583
6,600
288,186		 Grant
Funding
£
-
-
-
-
-
-
-
-		 Total
2024
£
71,819
9,718
121,083
202,620
78,966
281,586
6,600
288,186		 Total
2023
£
51,871
8,192
121,897
181,960
41,453
223,413
1,250
224,663

The expenditure on Charitable activities was £202,620 (2023: £181,960) of which £202,620 (2023: £181,960) was unrestricted and £0 (2023: £0) was restricted.

13

MIRACLE CHURCH OF GOD IN CHRIST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

6 Activities undertaken directly

Other costs relating to church activities:
Pastoral fees and expenses
Water
Lighting and heating
Cleaning and flowers
Travel and motor expenses
Mission costs
Sunday school department
Youth department
Women's department
Men's department
Catering and refreshments
Music and media department
60th Anniversary Celebrations
Baptism
Christmas
Evangelism
Convention
Visiting speakers
Ordination service
Feed programme
Funeral expenses
Other costs relating to provision of social housing:
Lighting and heating
Repairs
Insurance
Council tax
Broadband
Water
HMO Licence
Letting fees
7
Donations, grants and gifts payable
Donations to institutions
Gifts to individuals		 2024
£
13,500
995
10,968
3,745
8,567
1,938
9,891
702
582
104
6,509
1,148
-
509
411
759
3,884
1,770
727
5,011
99
71,819
13,025
51,761
4,953
2,880
524
3,132
225
2,466
78,966
2024
£
2,491
7,227
9,718		 2023
£
13,500
1,308
10,257
3,121
4,017
-
4,036
2,427
3,572
125
2,007
2,367
-
95
513
642
1,434
2,450
-
-
-
51,871
12,249
16,456
4,126
2,502
439
1,685
225
3,371

41,053
2023
£
2,547
5,645

8,192

14

MIRACLE CHURCH OF GOD IN CHRIST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

8 Support costs

Administrative expenses
Repairs
Staff costs
Furloughed employment costs
Depreciation
9
Other recognised gains/(losses)
Loss on disposal of fixtures
2024
£
31,037
3,539
76,065
-
10,441
121,083
2024
£
-		 2023
£
30,251
8,549
73,886
-
9,211

121,897
2023
£
(160)

10 Trustees

Some of our Trustees received remuneration or benefits from their work with the charity.

As at 31 March 2024, Francis Vaughan received either fees or remuneration for pastoral services to the church amounting to £13,500 (2023: £13,500). In addition to this, he had the use of a car belonging to the church which originally cost £7,500. Eutis Marshall received remuneration for pastoral services to the church amounting to £8,005 (2023 £3,648). Delroy Samuels received remuneration for services to the church as Property Administrator amounting to £19,695 (2023: £18,819). Invoices totalling £18,150 (2023: £18,150) were issued by SEC Accounting Services Ltd for various professional work where Sylvester Kavalo, one of the trustees was a director.

11 Employees

Number of employees

The average monthly number of employees during the year

Administration 2024
Number
7		 2023
Number
7

There were no employees whose annual emoluments were £60,000 or more.

15

MIRACLE CHURCH OF GOD IN CHRIST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

12 Tangible fixed assets

Cost or valuation
At 1 April 2023
Additions
Disposals
At 31 March 2024
Depreciation
At 1 April 2023
Disposals
Charge for the year
At 31 March 2024
Net book value
At 31 March 2024
At 31 March 2023
13
Debtors
Trade debtors
Prepayments and accrued income
Other debtors
14
Current asset investments
These comprise short term deposits.
15
Creditors: amounts falling due within one year
Trade creditors
Accruals and deferred income
Other creditors
Taxation and social security		 Land &
Buildings

£
3,240,000
685,000
-		 Fixtures,
Fittings &
Equipment
£
127,855
1,934
-		 Motor
Vehicles
£
7,500
-
-
7,500
729
-
1,875
2,604
4,896
6,771
2024
£
15,392
26,350
-
41,742
2024
£
(2,083)
10,258
2,075
3,220
11,670		 Total
£
3,375,355
686,934
-
3,925,000 129,789 4,062,289
-
-
-		 72,748
-
8,566		 73,477
-
10,441
- 81,314 83,918
3,925,000 48,475 3,978,371
3,240,000 55,107 3,301,878
2023
£
8,322
22,325
3,629
34,276
2023
£
999
5,288
1,628
3,948
11,863

16

MIRACLE CHURCH OF GOD IN CHRIST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

16 Designated funds

The funds of the charity include the designated funds comprising the following unexpended balances of donations and grants held on trust for specific purpose of meeting the costs of acquisition of land and buildings and other capital expenditure:

Building and capital expenditure fund
17
Analysis of net assets between funds
Fund balance at 31 March 2024 represented by
Tangible fixed assets
Current assets
Creditors: amount falling due within one year
Unrealised gains included above:
On tangible fixed assets		 Balance at
01/04/2023
£
124,310
124,310

17