GLORIOUS GOSPEL CENTRE LIMITED

Company Registration Number:
13995101 (England and Wales)

Unaudited abridged accounts for the year ended 31 March 2024

Period of accounts

Start date: 01 April 2023

End date: 31 March 2024

GLORIOUS GOSPEL CENTRE LIMITED

Contents of the Financial Statements

for the Period Ended 31 March 2024

Balance sheet
Notes

GLORIOUS GOSPEL CENTRE LIMITED

Balance sheet

As at 31 March 2024


Notes

2024

2023


£

£
Fixed assets
Tangible assets: 3 855 948
Total fixed assets: 855 948
Current assets
Debtors: 4 100 0
Cash at bank and in hand: 1,265 100
Total current assets: 1,365 100
Creditors: amounts falling due within one year: 5 (2,500) (1,360)
Net current assets (liabilities): (1,135) (1,260)
Total assets less current liabilities: (280) (312)
Creditors: amounts falling due after more than one year:     (2,928)
Total net assets (liabilities): (280) (3,240)
Capital and reserves
Called up share capital: 100 100
Profit and loss account: (380) (3,340)
Shareholders funds: (280) (3,240)

The notes form part of these financial statements

GLORIOUS GOSPEL CENTRE LIMITED

Balance sheet statements

For the year ending 31 March 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 02 November 2024
and signed on behalf of the board by:

Name: Harrison Elekwa
Status: Director

The notes form part of these financial statements

GLORIOUS GOSPEL CENTRE LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Other accounting policies

GLORIOUS GOSPEL CENTRE LIMITED hereinafter referred to as the company is registered with companies house with registration number 13995101 with ELEKWA, Harrison Eke as the Directors of the Company. The company is a worship center and provide encouragement and spiritual guidance to members as well as the public through its director and overseer. The financial statement has been prepared under the historical cost convention and in accordance with the financial Reporting Standard for Smaller Entities (effective January 2016

GLORIOUS GOSPEL CENTRE LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

2. Employees

2024 2023
Average number of employees during the period 1 1

The director is the only employee at the moment.

GLORIOUS GOSPEL CENTRE LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

3. Tangible Assets

Total
Cost £
At 01 April 2023 1,181
Additions 65
At 31 March 2024 1,246
Depreciation
At 01 April 2023 233
Charge for year 158
At 31 March 2024 391
Net book value
At 31 March 2024 855
At 31 March 2023 948

Property, plant and equipment (PPE) are the long-term tangible assets that are shown on the balance sheet of the company. The company recognizes an asset as an item of PPE when the asset has a useful life for more than one year and it is used for production or supply of goods or services, for rental to others, or for administrative purposes. Property, plant and equipment include land, building, machinery, vehicles, office equipment and furniture, etc. The company records an item of property, plant and equipment initially at its cost in the accounting record. It includes all costs that necessary to bring the asset to the working condition that it can be used as intended. The cost of an item of PPE includes purchased price, import duties, and the costs to get assets to the location and condition ready to use such as transportation and installation cost, etc

GLORIOUS GOSPEL CENTRE LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

4. Debtors

2024 2023
££
Debtors due after more than one year: 100 0

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at the amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

GLORIOUS GOSPEL CENTRE LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

5. Creditors: amounts falling due within one year note

This is the amount shown as acrued at the end of the financial year. Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at the amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debt