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2020-12-31-accounts

Falth Temple Church f God Pentecostal Trustees, Report & Accounts 31 December 2020 Faith Temple Church of God L*wChurch, Yowchurch

Index

Legal and Administrative Details 1
Trustees' Report 2
Independent Examiners’ Report 5
Statement of Financial Activities 6
Balance Sheet 7
Notes to the Accounts 8

FAITH TEMPLE CHURCH OF GOD (PENTECOSTAL) LEGAL AND ADMINISTRATIVE DETAILS

Trustees:

Chairman Overseer Ulric T. Thomas Other executive members Reverend Anthony C. Thomas B.D. Mr Rayhill Dirwayi (Deacon) Mrs Ruth Young Miss Veronica B. Bryan Miss Valerie H. Castry Executive secretary Reverend Anthony C. Thomas B.D.

Registered Charity Number: 1020761 Date of charitable registration: 11[th] May 1993 Registered Address: 23 Ellison Gardens Southall Middlesex UB2 4EW Church address: 47 Chalvey Road Slough Berkshire SL1 2NY

Accountant: Mrs S. Wallace-Thomas

Governing document : Declaration of Trust dated 20[th] March 1991

Donations may be sent to the Secretary at the registered office

1

FAITH TEMPLE CHURCH OF GOD (PENTECOSTAL) REPORT OF THE TRUSTEES For the year ended 31 December 2020

The trustees submit their report and the accounts for the year ended 31 December 2020.

Structure, governance and management

Governing document

The Faith Temple Church of God (Pentecostal) is an unincorporated charitable organisation formed on 1[st] December 1989 and registered as a charity on 11[th] May 1993. The charity is governed by a Declaration of Trust dated 20th March 1991 which is supplemented by a Book of Discipline which is used for certain day-to-day procedures and activities

Recruitment and appointment of trustees

The members of the General Trustee Board, which is the primary management body, are trustees for the purposes of charity law. New trustees may be appointed by a resolution of a meeting of the trustees.

Much of the charity's work focuses upon the promotion of the Christian religion and the running and maintenance of its place of worship.

The General Trustee Board seeks to ensure that the needs of this group are appropriately reflected through the diversity of the trustee body. To enhance the potential pool of trustees, the charity has, through selective advertising and networking with voluntary organizations active in the sector, sought to identify those who would be willing to become members of the charity and use their own experience to assist the charity.

Trustee induction and training

Many trustees are already familiar with the practical work of the charity being active members of the Church and from being involved in other Churches and organisations.

New trustees are encouraged to familiarise themselves with charity law, their responsibilities as trustees and with Church rules and practices.

Organisational structure

The General Conference is the supreme body of the Church. It is composed of the overseer and an equal number of ministerial and lay delegates

The General Trustee Board has the supervision, in trust, of all property of the Church. At their regular meetings, the trustees agree the broad strategy and areas of activity for the Church, including consideration of allocation of funds, investment, reserves and risk management policies and performance.

2

FAITH TEMPLE CHURCH OF GOD (PENTECOSTAL) REPORT OF THE TRUSTEES For the year ended 31 December 2020

Risk management

The trustees actively review, on a regular basis, the major risks that the charity faces and consider that maintaining our free reserves at the levels stated above, combined with our annual review of the controls over key financial systems carried out through an internal audit process, will provide sufficient resources in the event of adverse conditions.

The principal risks to the charity have been its dependence on voluntary income and its need to safeguard and maintain its land and property portfolio. These matters are reviewed by the trustees at their regular meetings and by members at the annual general meeting.

The trustees have also examined other operational and business risks which we face and confirm that they have taken steps to mitigate the significant risks.

Objectives and activities

The principal objectives and activities of the charity are:

During the year our activities were severely curtailed by the pandemic.

Financial review

Principal funding sources

The largest contributions to the Church are from tithes and voluntary general offerings given by the local congregation.

Reserves policy

The trustees have forecast the level of free reserves, (that is, those funds not tied up in fixed assets); the charity will require to sustain its pastoral and evangelical obligations. The trustees consider that the most appropriate level of free reserves at 31 December 2020 would be £80,000, (about our usual average income), increasing to £85,000 at 31 December 2021 to reflect anticipated commitments. Whilst our actual free reserves may prove sufficient, it is the trustees’ view that it is prudent to ensure that there are sufficient free reserves to provide financial flexibility in the light of the charity’s dependence on freewill offerings.

Investment policy

The trustees have adopted a strong socially responsible investment policy for the reserves of the charity. This policy, in tandem with the need to fulfil our statutory obligations, has the objective of investing in such a way that the principles of socially responsible investment are promoted. A further factor is the need to have ready access to our reserves, as long-term funding cannot be guaranteed, so for the current period, we have placed surplus funds on short-term deposits.

3

FAITH TEMPLE CHURCH OF GOD (PENTECOSTAL) REPORT OF THE TRUSTEES For the year ended 31 December 2020

Statement of trustees' responsibilities in respect of the accounts

Law applicable to charities in England and Wales requires the Trustees to prepare accounts 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 accounts, the Trustees are required to:

The Trustees are responsible for keeping accounting records which disclose with reasonable accuracy the financial position of the Charity and enable them to ascertain to ensure that the accounts comply with the Charities Act 2011 and the provisions of the trust deed. 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.

The Trustees are responsible for the maintenance and integrity of the Charity and financial information included on the Charity’s website.

Public benefit

In planning our activities this year we worked in accordance with the Charity Commissions guidance on public benefit. We exist to serve all areas of our community which includes all age groups without discrimination and is without distinctions of sex, political or religious beliefs. We strive to promote social welfare and cohesion through the provision of pastoral services and cultural events so improving the social and physical wellbeing of our local community.

Our work (pandemic permitting) normally includes:

By order of the board of trustees dated 29 October 2021

Reverend Anthony Thomas Executive secretary

4

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF FAITH TEMPLE CHURCH OF GOD (PENTECOSTAL)

I report on the accounts of the charity for the year ended 31 December 2020, which are set out on pages 6 to 11.

Respective responsibilities of trustees and examiner

The charity's trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed. It is my responsibility to:

Basis of independent examiner’s report

My examination was carried out in accordance with general Directions given by the Charity Commission. 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 explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.

Independent examiner’s statement

In connection with my examination, no matter has come to my attention:

  1. which gives me reasonable cause to believe that in any material respect the requirements:

  2. to keep accounting records in accordance with section 130 of the Act; and

  3. to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the Act have not been met; or

  4. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Fazers Independent examiners Hull, HU16 5PS

29 October 2021

5

FAITH TEMPLE CHURCH OF GOD PENTECOSTAL STATEMENT OF FINANCIAL ACTIVITIES

[incorporating income and expenditure account] For the year ended 31 December 2020

2020
Continuing activities
Notes
£
Incoming resources
General offerings
16,300
Tithes
26,107
Gift aid
7,154
Church events
-
Other incoming resources
3,111
_
52,672
Other incoming resources
Interest receivable
38
_
52,710
Resources expended
3
Direct charitable expenditure:
40,686
Governance costs
3,444
_
44,130
_
Net incoming resources for the year
8,580
Fund balances brought forward
1,465,792
_
Fund balances carried forward
1,474,372
_		 2019
£
21,586
23,682
36,929
2,014
21,306
_
105,517
71
_
105,588
49,858
8,865
_
58,723
_
46,865
1,418,927
_
1,465,792
_

There are no designated or restricted funds associated with the charity

6

FAITH TEMPLE CHURCH OF GOD PENTECOSTAL BALANCE SHEET As at 31 December 2020

2020
Notes
£
Fixed assets
Tangible fixed assets
4
1,416,014
Current assets
Cash at bank and in hand
54,180
Loans to church members
2,000
Prepaid and accrued income
2,178
_
58,358
Creditors
Amounts falling due within one year
Other creditors
5
-
_
Net current assets
58,358
_
Total liabilities less total assets
1,474,372
_
Funds
Other charitable funds
6
1,474,372
_
1,474,372
_		 2019
£
1,416,014
60,365
1,000
-
_
61,365
11,587
_
49,778
_
1,465,792
_
1,465,792
_
1,465,792
_

These accounts were approved by the Board of Trustees on 29 October 2021

Trustee

7

FAITH TEMPLE CHURCH OF GOD PENTECOSTAL NOTES TO THE ACCOUNTS For the year ended 31 December 2020

1. Principal accounting policies

The financial statements have been prepared in accordance with the Charities (Accounts and Reports) regulations, the Statement of Recommended Practice, Accounting and Reporting by Charities 2005 and with the applicable accounting standards.

b) Fixed assets and depreciation

Tangible fixed assets are stated at cost less, where applicable, amounts written off on a reducing balance basis.

Freehold properties are maintained by a programme of repair and refurbishment to ensure that the overall residual values of these properties will not fall below cost. In the opinion of the directors, a depreciation charge is not appropriate.

c) Income

The major sources of income are from donations, offerings and deeds of covenant. All non-investment income is shown gross and is accounted for when received by the charity.

d) Taxation

The charity has received charitable exemption under Section 505 of the Income and Corporation taxes Act 1988.

e) Hire purchase and leasing commitments

Assets obtained under hire purchase or finance leases are capitalised in the balance sheet and depreciated over their estimated useful lives or, in the case of a lease, the lease term, if shorter.

2. Constitution

Faith Temple Church of God Pentecostal is a charitable unincorporated body which was registered with the Charity Commission for England and Wales on 11th May 1993.

8

FAITH TEMPLE CHURCH OF GOD PENTECOSTAL NOTES TO THE ACCOUNTS For the year ended 31 December 2020

3. Resources expended
2020
Direct
Governance
Total
charitable
£
£
£
Staff
Pastor's expenses/honoraria
285
15
300
Training
129
6
135
Staff costs and expenses
18,706
984
19,690
19,120
1,005
20,125
Office
Cleaning and domestic
463
24
487
Rates and water
3,044
160
3,204
Repairs and renewals
2,526
132
2,658
Telephone and IT
1,681
88
1,769
Insurance
1,537
80
1,617
Light and heat
4,405
231
4,636
Postage and stationery
988
51
1,039
Motor and transport
2,505
131
2,636
Travel and conferences
485
25
510
Sundry
-
797
797
17,634
1,719
19,353
Professional and financial
Loan interest
-
-
-
Legal and professional fees
-
-
-
Accountancy and bookkeeping
-
720
720
-
720
720
Gifts and donations
Gifts and donations
642
-
642
642
-
642
Church
General church expenses
1,078
-
1,078
General church expenses
150
-
150
Weddings and funerals
1,700
-
1,700
Refreshments
362
-
362
3,290
-
3,290
_
_
_
40,686
3,444
44,130
_
_
_		 2019
£
4,470
899
18,017
23,386
1,135
512
1,475
2,004
2,976
7,206
807
2,543
6,024
743
25,425
998
4,432
1,244
6,674
1,317
1,317
1,029
-
-
892
1,921
_
58,723
_

9

FAITH TEMPLE CHURCH OF GOD PENTECOSTAL NOTES TO THE ACCOUNTS For the year ended 31 December 2020

4. Fixed assets Land and Fixtures Church Total
buildings and fittings organ
Cost or valuation £ £ £ £
Brought forward 1,416,014 37,500 25,000 1,478,514
Revaluations in year - - - -
_ _ _ _
As at 31 December 2020 1,416,014 37,500 25,000 1,478,514
_ _ _ _
Depreciation
Brought forward - 37,500 25,000 62,500
Charged in the year - - - -
_ _ _ _
As at 31 December 2020 - 37,500 25,000 62,500
_ _ _ _
Net book value
As at 31 December 2020 1,416,014 - - 1,416,014
_ _ _ _
As at 31 December 2019 1,416,014 - - 1,416,014
_ _ _ _

The freehold property was informally valued by Focus Commercial , estate agents in Slough, in the region of £800,000 in March 2020.

The equivalent historical cost of the freehold property is understood to be £145,000.

2020
5. Creditors
£
Amounts falling due within one year
Bank loans and overdrafts
-
Loans from church members
-
_
-
_		 2019
£
5,587
6,000
_
11,587
______

The bank loans are secured by legal mortgage over the freehold properties. Finance company loans are secured over the relevant assets.

10

FAITH TEMPLE CHURCH OF GOD PENTECOSTAL NOTES TO THE ACCOUNTS For the year ended 31 December 2020

6. Reserves

6. Reserves
Revaluation Other funds Total
reserve
£ £ £
As at 31 December 2019 0 1,465,792 1,465,792
Net incoming resources for the year - 8,580 8,580
_ _ _
As at 31 December 2020 0 1,474,372 1,474,372
_ _ _

7. Constituent churches

The individual churches in network connection with Faith Temple Church Of God (Pentecostal) are:

Faith Temple Church of God, White City, Shepherd Bush, West London Faith Temple Church of God, Harrow, West London Faith Temple Church of God, Neasden North, West London

These accounts do not include any figures for these churches, which report separately to their members.

11

FAITH TEMPLE GRAPH SUMMARIES For the year ended 31 December 2020

----- Start of picture text -----
120000
ANNUAL TRENDS
100000
80000
60000
40000
20000
0
2013 2014 2015 2016 2017 2018 2019 2020
-20000
Income Expenditure Net surplus/deficit
30000
EXPENDITURE
25000
20000
15000
10000
5000
0
2013 2014 2015 2016 2017 2018 2019 2020
Staff Office Professional and financial Gifts and donations Church
----- End of picture text -----