MAGNIFICENT MINISTRIES
Organising services on Christian celebrations,regular Sunday & weekly services. missionary and pilgrimage tours to Israel & other Christian sites. conferences for the purpose of Christian teaching & prayer.Establishing and running the Magnificent Ministries School of Ministries for training in Christian Ministry. Church Network in Lambeth. youth group. marriage ministry.
Financial health, per its FY2024 accounts
The accounts state that the charity reported a surplus of £38,820 for the year ended 30 November 2024, with total net assets increasing to £297,850. The charity holds unrestricted undesignated cash of £202,043, which significantly exceeds its stated reserves policy target of £10,000. The trustees confirm that the charity has adequate resources to continue operating for the foreseeable future.
What the accounts disclose
“The trustees have determined that the charity should aim to hold unrestricted undesignated cash of no less than £10,000 so that the charity could continue to operate smoothly should income and / or expenditure vary adversely.” — page 4
“During the year the charity received donations totalling £23,281 (2023: £31,637) from related parties (which includes trustees and anyone closely connected to them). Except for the reimbursement of expenses incurred when acting as agent for the charity, no expenses were paid to (or for) the trustees (2023: £nil)” — page 13
Trustees
- Dr OSAGIE OLUSEGUN OBASEKI SURGEONchair
- ANGELA OBASEKI
- CHISA EGWURUGWU
- CHRISTIANA PHILLIPS
- Dr OSAGIE OLUSEGUN OBASEKI SURGEON
- FUNKE OLUOGBAGBEMI
- GABRIEL EMIOWELE
- LINDA EGWURUGWU
- OLUREMI ARIBA
- OROMA EGWURUGWU
- PETER PHILLIPS
- REMI ADEWALE-DUCKRELL
- THERESA NNODI
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 30/11/2025 | £61k | £7k |
| 30/11/2024 | £49k | £10k |
| 30/11/2023 | £51k | £10k |
| 30/11/2022 | £45k | £10k |
| 30/11/2021 | £33k | £5k |
Common questions
Is MAGNIFICENT MINISTRIES financially healthy?
Per its FY2024 accounts: The accounts state that the charity reported a surplus of £38,820 for the year ended 30 November 2024, with total net assets increasing to £297,850. The charity holds unrestricted undesignated cash of £202,043, which significantly exceeds its stated reserves policy target of £10,000. The trustees confirm that the charity has adequate resources to continue operating for the foreseeable future. Its FY2024 accounts were independently examined.