United Prayer Ministry
Charity No 1001032
Report & Financial Statements 31st March 2024
Coker Isah & Co. Chartered Certified Accountants
United Prayer Ministry
| Charity No 1001032 | |
|---|---|
| INDEX | |
| Page | |
| Charity details | 1 |
| Trustees' Reports | .2- 3 |
| Independent Examiners Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 |
| Notes to Financial Activities | 7…8 |
| Detailed Statement of Financial Activities | Appendix |
Page 1 United Prayer Ministry
Charity Details
Charity No 1001032
MANAGEMENT COMMITTEES
- Trustees Rev (Mrs) R F Fajoye Rev M O Fajoye Mr Samson Baidoo
Secretary Rev M O Fajoye
Charity Number 1023232 Registered Office 64 Grataham Road Manor Park London E12 5NE
Accountants Coker Isah & Co. Chartered Certified Accountants 74 Church Road Crystal Palace London SE19 2EZ
Bankers Natwest 196 Stock Newington High ST London N16 7LL
Page 2 United Prayer Ministry
TRUSTEES' REPORT for the year ended 31 March 2024
The trustees present their report together with the financial statements of the charity for the year ended 31 March 2024 The financial statements have been prepared in accordance with the accounting policies set out on page 7 and comply with the charity's trust deed and applicable law.
Trustees
The trustees named on page 1 have served throughout the year. Appointment of trustees is governed by the Trust Deed of the charity. The Board of trustees is authorised to appoint new trustees to fill vacancies arising through resignation or death of an existing trustee.
Investments powers
The Trust Deed authorises the trustees to make and hold investments using the general funds of the charity, but no such investments are presently held.
Constitution, objects and policies
The principal activity of the organization was that of providing advancement of Christian faith
The policy of the charitable Trust continues to be to seek additional donations to continue to run the organisation
The trustees take the day responsibility for running the charity.
Development, activities and achievements
The trustees consider that the performance of the charity this year has been most satisfactory and the average number of members has increased once again this year.
Financial review
Funds available are sufficient to permit the Trust to continue in operation in the medium term, given the continued support of the members. Should this support not continue in the longer term, further financial support would need to be sought to replace it.
Risk Management
The trustees actively review the major risk which the charity faces on a regular basis and believe that maintaining reserves at current levels, combined with an annual review of the controls over key financial systems, will provide sufficient resources in the event of adverse conditions. The trustees have also examined other operational and business risks faced by the charity and confirm that they have established systems to mitigate the significant risks.
Page 3
United Prayer Ministry Charity No 1001032
TRUSTEES' REPORT for the year ended 31 March 2024
Future Developments
The charity's activities has increased during the year under review . The trustees are seeking to extend the charity's activities and are pursuing a number of activities to enable this to happen
Reserve policy
It is the policy of the charity to maintain unrestricted funds at a level which provides sufficient funds to cover management and administration and support costs. Unrestricted funds are maintained at least at this level throughout the year.
Statement of trustees' responsibilities
Law applicable to charities in England Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the charity's financial activities during the year and of its financial position at the end of the year. In preparing those financial statements, the trustees are required to:
a) Select suitable accounting policies and apply them consistently;
b) make judgments and estimates that are reasonable and prudent;
c) state whether applicable accounting standards and statements of recommended practice have been followed, subject to any departures disclosed and explained in the financial statements;
d) prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping accounting records which 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 2011 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.
Approval
This project was approved by the trustees on 20/12//2024 and signed on their behalf
signed Rev M O Fajoye Trustee
Page 4 United Prayer Ministry
Independent Examiner's Report on the Accounts (CC65)(b) (Accrual) Report the trustees and members of
United Prayer Ministry
Charity No 1001032
The accounts for the year ended 31 March 2024 Set out in pages 4-6
Respective responsibilities of the trustees and examiner
The trustees are responsible for the preparation of the accounts, you consider that an audit
is not required under section 144 of the charities 2011 (the act) and does not apply, and that
independent examination is needed
It is my responsibility to
-
examine the accounts under section 145 of the Charities Act
-
to follow the procedure laid down in the General Directions given by the Charity Commissioners under section 145 (5) (b) of the Act and
-
to state whether particular matters have come to my attention
Basis of independent examiner's report
My examination was carried out in accordance with the General Directions given by the Charity Commissioners .
An examination includes a review of the accounting records kept by the charity and a comparison of the accounts
presented with those records .It also includes consideration of any unusual items or disclosures in the accounts and , seeking explanation from you as trustees concerning any such matters. The procedures undertaken do
not provide all the evidence that would be required in an audit and consequently I do not express an audit opinion on the view given by the accounts.
Independent examiner's statement
In connection with my examination ,no matter has come to my attention
-
(1) which give me reasonable cause to believe that in any material in respect the requirements
-
to keep accounting records in accordance with section 130 of the Charities Act and
-
to prepare accounts accordance with the accounting records and to comply with the accounting requirement of the Act
have not been met.
(2) to which, in my opinion ,attention should be drawn in order to enable a proper understanding of the accounts to be reached.
James Coker Dated 120/12/2024
Signed
MBA FCCA
Relevant qualifications
Address
Coker Isah & Co.
Chartered Certified Accountants
74 Church Road London SE19 2EZ
Page 5
United Prayer Ministry
Statement of Financial Activities
For the year ended 31 March 2024
| Incoming & Expenditure Income: Voluntary Sources- Donation Otherr Income- TOTAL INCOME Direct Charitable Expenditure: Direct Charitable Expenditure: Management & Administration Expenditure TOTAL EXPENDITURE Net Income\ ( Expenditure) Fund Balance B/F Fund Balance C\F |
Unrestricted Fund 2024 23708 1497 1891 27096 18106 8907 27013 83 11484 11567 |
Unrestricted Fund 2023 16418 1510 1362 |
|---|---|---|
| 19290 | ||
| 13094 7029 |
||
| 20123 | ||
| -833 12317 |
||
| 11484 |
The notes on page 6 form part of these accounts
page 6
United Prayer Ministry Charity No 1001032 Balance Sheet 31st March 2024
| FIXED ASSETS CURRENT ASSETS Debtors Bank & cash CREDITORS Amounts falling due within one year Accrual & deferred income Net Current Liabilities CREDITORS Amount falling due after more than one year Bank Loan TOTAL ASSETS LESS CURRENT LIABILITIES ACCUMULATED FUND Retained Surplus Brought Forward Surplus for the year Retained Surplus Carried Forward |
2024 £ £ 991 240 10,511 10,751 175 175 10,576 11,567 0 11,567 11,484 83 11,567 0 |
2023 £ £ 777 240 10,617 10,857 150 150 10,707 11,484 0 11,484 12,317 -833 11,484 |
2023 £ £ 777 240 10,617 10,857 150 150 10,707 11,484 0 11,484 12,317 -833 11,484 |
|---|---|---|---|
| 11,484 0 |
|||
| 11,484 | |||
| 12,317 -833 |
|||
| 11,484 | |||
Approved on 13 /08 / 2024 and singed on behalf of the Trustees
By signed Rev (Mrs) R F Fajoye Trustee Member
signed Rev M O Fajoye Trustee Member
Page 7 United Prayer Ministry
Notes to the Financial Statements 31st March 2024
1 Accounting policies
1.1 Accounting convention
The financial statements are prepared under historical cost convention and in accordance with The Financial Reporting Standard for Smaller Entities (FRSSE) (effective Jan 2005) and statement of Recommended Practice (SORP 2005) ,and with the Charity Acts 2011
1.2 Incoming Resources
The Income represent the total donation and Income Tax Claimed excluding Value Added Tax , receivable during the year
1.3 Depreciation
Depreciation is provided on tangible Fixed Assets at rate calculated to write off the cost less residual value of each assets over its expected useful life as follows:-
Fixture fitting and equipment 25% reducing balance basis
1.4 Donation
Donation receivable are credited to the Statement of Financial Activities (SOFA)) in the year for the year which they are received.
1.5 Resources Expended Resources Expended are included in the Statement of Financial Activities (SOFA) on an accrual basis inclusive of VAT
1.6 Unrestricted Funds
Unrestricted Funds are donations and other incoming resources received or generated for the charitable purposes
1.8 Restricted Funds
Restricted Funds are funds received which can only be used for the specific purpose as laid out by the donor Expenditure which meets this criterion is identified to the fund, together with a fair allocation of overheads costs. During the year there are no restricted fund.
2 Income
The total income of the organization for the year has been derived from its principal activity wholly undertaken in the UK
| 3 Operating surplus Operating surplus is stated after charging Depreciation of tangible assets |
2024 £ 330 |
2923 £ 572 |
|---|---|---|
page 8 United Prayer Ministry Notes to the Financial Statements
| 4 Fixed Assets Cost 01-Apr-23 Additions Disposal 31-Mar-24 Depreciation 01-Apr-23 Disposal Charge for the year 31-Mar-24 Net Book Values 31-Mar-24 31-Mar-23 5 Creditors amount falling due within one year Inland Revenue Creditor and accrual 6 Summary of Assets by Fund Unrestricted funds Restricted Fund Total |
Fixture Fittings equipment 12,741 544 0 13,285 11,964 330 12,294 991 777 2,024 £ 0 240 240 2,024 11,567 0 11,567 |
Total 12,741 0 544 0 0 |
|---|---|---|
| 13,285 | ||
| 11,964 0 0 330 |
||
| 12,294 991 |
||
| 777 | ||
| 2,023 £ 0 240 240 |
||
| 2,023 11,484 0 |
||
| 11,484 |
- 7 Trustees Remuneration
Only one of the trustee is under PAYE System
Appendix United Prayer Ministry Statement of Financial Activities For the year ended 31 March 2024
| Incoming & Expenditure Income: Voluntary Sources- Donation Gift Aid Other Income TOTAL INCOME Direct Charitable Expenditure: Training & development Rent & rates Computer consumables Repair & maintenance Conference and retreat Printing postage and stationery Telephone Traveling & entertainment Management & Administration Expenditure Legal and professional Accountancy Bank charges Subscription General expenses Charitable donation Miscellaneous Depreciation on FF and equipment TOTAL EXPENDITURE Net movement in funds for the year Fund Balance BF Fund Balance CF |
Unrestricted Fund 2024 £ 23708 1497 1891 27096 60 9250 318 449 1976 1587 1162 3304 18106 910 175 267 717 334 4343 1831 330 8907 27013 83 11484 11567 |
Unrestricted Fund 2023 £ 16418 1510 1362 |
|---|---|---|
| 19290 | ||
| 60 6117 75 427 1484 569 2011 2351 |
||
| 13094 | ||
| 610 150 182 470 649 4396 0 572 |
||
| 7029 | ||
| 20123 | ||
| -833 12317 |
||
| 11484 |