GRACE GLORY & MERCY CHURCH CIC

Company limited by guarantee

Company Registration Number:
15337158 (England and Wales)

Unaudited statutory accounts for the year ended 31 December 2024

Period of accounts

Start date: 8 December 2023

End date: 31 December 2024

GRACE GLORY & MERCY CHURCH CIC

Contents of the Financial Statements

for the Period Ended 31 December 2024

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

GRACE GLORY & MERCY CHURCH CIC

Directors' report period ended 31 December 2024

The directors present their report with the financial statements of the company for the period ended 31 December 2024

Principal activities of the company

Activities of religious organisations



Directors

The directors shown below have held office during the whole of the period from
8 December 2023 to 31 December 2024

Mrs E Adeyemi
Pastor O Adeyemi
Mr D Oluwadare


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
9 May 2025

And signed on behalf of the board by:
Name: Mr D Oluwadare
Status: Director

GRACE GLORY & MERCY CHURCH CIC

Profit And Loss Account

for the Period Ended 31 December 2024

13 months to 31 December 2024


£
Turnover: 25,058
Cost of sales: ( 7,270 )
Gross profit(or loss): 17,788
Administrative expenses: ( 11,707 )
Operating profit(or loss): 6,081
Interest receivable and similar income: 33
Profit(or loss) before tax: 6,114
Tax: ( 840 )
Profit(or loss) for the financial year: 5,274

GRACE GLORY & MERCY CHURCH CIC

Balance sheet

As at 31 December 2024

Notes 13 months to 31 December 2024


£
Fixed assets
Tangible assets: 3 1,691
Total fixed assets: 1,691
Current assets
Debtors: 4 250
Cash at bank and in hand: 5,813
Total current assets: 6,063
Creditors: amounts falling due within one year: 5 ( 2,480 )
Net current assets (liabilities): 3,583
Total assets less current liabilities: 5,274
Total net assets (liabilities): 5,274
Members' funds
Profit and loss account: 5,274
Total members' funds: 5,274

The notes form part of these financial statements

GRACE GLORY & MERCY CHURCH CIC

Balance sheet statements

For the year ending 31 December 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.

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

This report was approved by the board of directors on 9 May 2025
and signed on behalf of the board by:

Name: Mr D Oluwadare
Status: Director

The notes form part of these financial statements

GRACE GLORY & MERCY CHURCH CIC

Notes to the Financial Statements

for the Period Ended 31 December 2024

  • 1. Accounting policies

    Basis of measurement and preparation

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

    Tangible fixed assets depreciation policy

    Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter. Plant and machinery - 25% straight line

GRACE GLORY & MERCY CHURCH CIC

Notes to the Financial Statements

for the Period Ended 31 December 2024

  • 2. Employees

    13 months to 31 December 2024
    Average number of employees during the period 3

GRACE GLORY & MERCY CHURCH CIC

Notes to the Financial Statements

for the Period Ended 31 December 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
Additions 1,988 1,988
Disposals
Revaluations
Transfers
At 31 December 2024 1,988 1,988
Depreciation
Charge for year 297 297
On disposals
Other adjustments
At 31 December 2024 297 297
Net book value
At 31 December 2024 1,691 1,691

GRACE GLORY & MERCY CHURCH CIC

Notes to the Financial Statements

for the Period Ended 31 December 2024

4. Debtors

13 months to 31 December 2024
£
Other debtors 250
Total 250

GRACE GLORY & MERCY CHURCH CIC

Notes to the Financial Statements

for the Period Ended 31 December 2024

5. Creditors: amounts falling due within one year note

13 months to 31 December 2024
£
Taxation and social security 840
Accruals and deferred income 600
Other creditors 1,040
Total 2,480

COMMUNITY INTEREST ANNUAL REPORT

GRACE GLORY & MERCY CHURCH CIC

Company Number: 15337158 (England and Wales)

Year Ending: 31 December 2024

Company activities and impact

During the financial year, the Church advanced the Christian Faith and community love for the benefit of the public in the following ways: i. Spreading the love of God through evangelism, hospitality, holding of prayer meetings, lectures, production and distribution of literature. ii. Christening of babies from the community (three were done last year). iii. Organisation of free piano and drum lessons for children (sponsored by the church). iv. Visiting, counselling and buying of gifts for new mothers and their babies. v. Supporting and visiting the sick, vulnerable and the elderly in the community. vi. Providing transport for people who which to visit the church.

Consultation with stakeholders

Stakeholders have been consulted on how to further assist them and increase the Church’s services to further benefit them. They have also been consulted regarding the planning and implementation of future potential services to promote their social and religious needs.

Directors' remuneration

No remuneration was received

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
9 May 2025

And signed on behalf of the board by:
Name: Mr David Oluwadare
Status: Director