Charlry Regl$trtlots No. ID42556 Company Registrtlon No. 2992416 IKngl?nd and WalÈsl POWER PRAISE & DELIVERANCE MINISTRIES INTERNATIONAL WORSHIP CENTRE ANNUAL REPORT FOR THE YEAR ENDED 30 IYOVEMBER 2020
PUWEK PRAISE & DELIVERAIYCE MIIYISTRILS INTERNATIONAL WORSHIP CENTRE LEGAL AND ADMINISITRATIVE INFORMATION Tru.stees Jennifer Brown Pauline Christie Inez Riley Junior Siewart Secretary Inez Riley Charity numbcr 1042556 Company number 2992416 Principal addrcss 421-427 Fligh Road Tottenhain London N176QN Rcgistered officc 421-427 High Road Tottenhani London N176QN Indcpcndent examiner Golihvins Liniitcd 75 Mayg?rov¢ Road Wesi H&111PStead London NW6 2EC3 Banker. Lloyds TSB Bank PIC Lloyds Court 28 Secklow Gate West Central Milton K¢yneb MK9 3b.H
POWER P1141SE & DELIVE114NCE MINISTRIES INTERNATIONAL WORSHIP CENTRE CONTENTS Page Trustees, report 14 Indcpendent examiner's r¢port Statcmcnt of financial activitiLS Balance sheet Statcrncnt of cash flows Notes to the accounts 8-15
POWER PRAISE & DELIVERANCE MIlSTRIEs INI'EIiNA'fioNAL WORSHIP CENTRE
'rRUSTLLS' KLPOK'I. TrOK'I'HE YEAR ELNDED 30 NOVEMBER 2020
Thc trustees present their i-eporl and a¢cuunts foi. thc year eiidcd 30 Noveinbcr 2020.
The aecoui)ts havc bcci) prcpared in d0[da17CC with thL accoiinting policic8 sct oiit iii nate I to the accDuiits
and coniply will) thL cli<irity'% M¥inoranduni and iirlicl¢% i)r d%%ocialioii, appliLablc law, and thc SiatcniLiII
of R¥Lommended Practice, applicable lu LhdritiLS pfLP¢iringi IhLif dccounl% in aLcurddnLL With tlie FinanLial
Reporting Standard for SmallLr Enlitics.
Objectives and activitles
'I'he objects tor which the charity is establisliLd arc for thL advanccment ot'christian bdlth throug7h the spread
of Ihe go%pel uf JesLl8 Llirist and the r¢li¢f of poverty in Ilic Unilcd Kingdom.
Power Prais¥ & r)¢lÈv¢ranLc Mi inislI-iL% inlernational Wur%hip Cenli-e shares ILS fundaniental beliefi with the
mainsircain Cl)ii%lian rLligiun {ofwhich thc followiiig 'SiatCincnt of Faith, providcs further dciails.)
l. The sovereigTllty diid grdLe of God the F(Ithei', God the Son and God thu Holy Spiiit in crLdtion.
providence, I'cvelation. redemption and final judgemcnl.
2. The divine inspiralion of l.loly Scripture and its coiiscqucnt cntii'e trustwoithiness and supreme authorily
in all Inattei's ol- laith and Londucl.
3. The universal sinfulness ]d byuili of fallLn man. making hiii] %ubject to Ciod's wrath and condeinnation.
4. 1.he subslilulionary sacrifiec of the incariiate Son of God as tlie sole and all-sufficient ground of
redemplion Irom Ihc gui It and power ol'sin. aiid &oiii its eteimal con.q¢qu¢nces.
5. The justiliLatioi) of the siniier bolely by Ihe grace of God Ihrougli faiili in Chrisi erucificd and Tisen from
thc dead.
6. Thc illuminating, regeneratinLI.. indwclling and sanilifying work of God thc Holy Spiril.
7. The priesihood ofdll b¢li¢v¢rs. wlio loi-m ihe univLr5¢11 eliurLh. the Body uf which Christ is the Head. and
which is coinmitied by Hi% command lo thc procl
POWER PRAISE & DLLIVERA.NCE MlkNlS'fRIES INTERNATIONAL WORSHIP cLN'fRE TRUSTEES? REPORT FOR THE YEAR F.NDED 30 NOVEMBER 2020 T)F. EMBER 2 19 1 FEBRUARY 2020 Every Inoiiih the church einb<irks on openiiig its door lo the local cominunity fccding and cl£)thing Ihose Ihal dre in nLcd. To thig Lt)d iv¢ hdve einbarkcd on anoihLr eiility wiihin Ihe Cl)ur¢h vision called 'Hand% of Ilop¢" Hot IllCdiifTQ7.cn fo()d £lL¢umiiani¢d by W41rtFt cluthing, Ltc. arc sharcd oiil il) tho.sc in aiiLndanLu. WhilL tiLdingtr dnd LloihiiiLF IhosL in nLLd coun%elliiig 1.% on hdnd dnd d li%leiiinLJ ear. They alsi) cnLOUI'agud ti) contact thc ¢liurcli and a supply lif fi)od dnd i()ilctries will be d¢livci'cd. The ChLirch rurthii. providcb aid lo thu cominunity ihri)ugh a I'dllLTe of serviLe4 SULh i)n to i)ne LounsellingT, mentoi'ing. 8Lif-dcv¢lopment and confidence bLiilding support as well as community days, conccrts and spLcialiscd community celebrations. Our evangelistical outrcacli cntitled'cliurch withoui Walls" 'F.acli one Reach Onc and ()pcration (io whcre evdngTelisiiigJ, singing,, i)rayei- diid words of eiicourcigJLiiicnl is tdkcii fi'um IIIL VCStry to uulsidL Il)L ChurLITr. Many thal passed by.joiiied iii. in cclcbration and siiigiiig7 aiid lifc's wcrL iinp¢lCtcd, tl)ULhcd, Llian&J<d and received Salvation dnd iii)w have a plaLe of ¥itorsliii) to attend. Wc coniinuc io proclaim aiid pi"opagaic thc Oospcl ofJcsu5 Chiisr, and in Lloin¥ tliis we %irivc io aS%ibi iinij impiovc IhL livcs of individuals aLI"u45 LVLI"y divi.4ivn o(il)e Luininunity. Wc cunliniie tu have our Woinens,, Mens, dnd Yoiiih meviings which, again. teaches into the coinmunity nd changc% livoq by bringing individuals. whethci. il be male, felal¢, young and old, into th¢ fellowship and ¢are ol. this Charily. We have persoi)ally seeii many lives transfonned by these diffei'ent auxiliary meetings. W¢ dr¢ ¢ry ¢ons¢ious ot'tlie t3cI tlidt ihe BorougFlI wherein tliis Chai'ity is silualed ib very demanding socially and economically. W¢ are doinu our v¢ry b¢.qt lo briiig liopc, stability and oneness iiito tliis community. ARCH 2020 throu h NUVLMIIF.R 2020 When the ¢oronavirus hit, our iiminediate pi'ioriiy wds mdkingF %ure oiir meinbers, Pdrtners (d supporters wci-e safe. Mnst of our goals were CLlrtailcd during ?.020 dLie to the ongoing pandcinic. New approachcs and timelines were ratified in MarLh 2020. We becan)e aware ihat oui. goalb and dLlivities needed to chdnge ill the short lerni duc to the eurrcnt crisis. We quickly addpled ULir serviies alt¢r tlie Governinent i55ued the stay-iil-hoine order. Projevls and activities coiiiplctcly ceased to lakc plac¢ ii) a focc-to-face forniat as our serviccs ivas complcicly put on hold, while we adapted d new programille called"CHURCH WITHOUI, WALLS" 'CHURCH WITHOUT WAI.LS" prosraiiiiiie allii%vo US to .qtreaiii live on-line qervi¢es whi¢h i.q re¢ord¢d via Faccbook. Wc now wclLoimc an in1cmaiioni I congrc¥aiion rcachiiib* Iliousands. (If believLrs all OVLr Ihc world in ci)iinlric.% 8uih a%, H()Ilaiid, (iL'rtll£llly, l.rdnCL, .lamai¢a, Dvmini¢a, Si. Maartcn & the IIVI lo name of fcw. Thi5 ha% cndblLd us lu kLep wor%liip slylL frcsh and nLW. We ¢il%o inc()rpcirat¢d 'PIIAYER %T()I<M" kn,hei-e pr4yer wa8 av¢iilable live online to the inlernl£ tional conimunity, which helpe£l i)ur aLidienue 10 redli¢¢ slrebs and anxiety.. promoie a more pi)4itive ouilook dnd irLngthen thc will to livL. This c.IL'aied such ai) impacr rhat on thc lives ot the people in lo conimunity, that we have conlinued"PRA YF.TI STORM" every Tuesday, Thursday and Satiirddy moining. WL have impl¢in¢nted "AN EACH QNE. IIEACH ON'E" programme which allows mcinbers lo ¢h¢ck on eaLh oihLf di ILdbl onc d WLLI( pi'ovidiiig LarL lor IhL 5PiritUdl needb, fiiiancial needs and emolional iieeds. During Ihe pandcniic so iiiany penple lost rheir hope and.joy. I'his progranime ha5 had %u¢h J hugL SULCL% Ihal wc arc eonsidcring enlai'uTing ils sLope 10 rL¢iLh oul thL morc mcinbLrs of the Lommuniiy of HdrrinuJay at lJrgi. DLspite the diffi¢ulties of lockdown we are have maint(iined our links with the Community enLouraging dnd providing support foi. Ihosc in nccd, by providing diy gond io those in n¢¢d and proving cmotional support and Lounselling to those in need. We havc ad Ptcd a Loom C'otrcc and Tea as a social cvcning, cncouraging community building and emotional SLlPPOrt for those in need.
PC)WER PRAISE dc DELIVERANCE MIryISTRIES INTERNATIONAL WORSHIP CENTIi 'I'RUS'I'bES' RliPORT FUR I'HE YLAR LNDLD 30 P4OVEMBER 2020 We ale ihdnkful tor Gud's ongoillgy fdithfuln¢ss and i)IT)vision to tlie work of Ihe chariiy. We have also b¢cn hiimblcd by God's rcsponsc aiid pi'ovi510n to LIS With gcnerous gifts, fiindraisiiig SULcesses aiid uiifoY¢s¢¢ 4ivenues of fundb whiLlI l)dV¥ opeiied. iii pai'ficulai" tlie yedr end closed iviih uncei1ainly100ining for dll ch2ritiL8 like our own. W¢ Liinlinuc lo bL bl¢s%cd by the skillcd and dedicated pcoplc who w()rk ai)d volunlecr foi. u.%, whiLh ha.4 ensuj'ed th¢lt we L&lll Lunliniie opcralingJ witl) and for thL Lommunity of Harringay which we siipport. Wc louk fuiivardinLT to the new year dnd resuminLF our avlivitics a5 the unccilainly of the pandemiL LIDs'e5 in. WL h()pc tlial wc Lan bc morc iillP<lCtful to Ihc coininunity providing confidence and sti'engih that we will gTel through ihis log¥iliLr. FinanciAI review It is ilic poliLy Ot. thc clidrity Ilidi Iree re4erve.% {tlio%e funds noi ticd up in fix¥d assCt5. dncl (ILsigTiiatcd and re.¥lriLled fund%) %hould bc Inaintaincd at a level cquivaleilt to two mcjiirh'q expeiidÈlure (appri)ximalLly i)I' 50.000). The li'usleeh cunsider re.%erves di ihi% level will L"n511fL (hal, iii thL LVLnt of a sigJiiifiLdnl drop iii diJii(ILiiTriii, IIILY WIII IPL 411Jlc Lv LuiJlJJJu¥ IIL¥ blial ily'% bUIJ Lill aLliviliLS wliilL LVllbidLfkLIiuIh ib ¥iVLll IU Wilyb in wliich additional funds may be I'ai8ed. AI 30 Novcinbcr 2020 thc cliarity licld negative ti'cc reserves, WLth fiinds being tied up in fixed assets. The truslees are also aware of the need to increase the membership and are Currently considering ihe bLsI way to achicvc this. The Iruslces are in Ihe pioce&.s uf ds5e.4sing the risk% f<icill(F the charity and fornialising a slralegy lo rediice thcm to an acceptance level. The tru%iccs arc in thc process ot in8talliiig new tlilSt¢es, whicli will bring on a fresh Inindsel and ncw idcas lo briiig ihc Lharily intu all round siiccess in gloal achieiweineiit. Therc are plans 10 Iiicoiporalc a banqu¢ring liall aiid Ihc Trust¢c.s arc lookiiig into this iii morc dctail. Pl] dlso lu open a creLhe. Stru¢ture¥ governance management The Iruslees. wlio are alsu tlie direLlors l()I' Ihe purpose of cojnpany law, and who served dui'ing the ytrar wcrc.. Pauline Cliristie Incz Riley Jennifer Brown Jui)Jor SILwdri Ncw Tru%lccs arc appointcd cvery two ycars. The ncw Ti-ll.qtees are given a copy of ihL lalesl 8Lt of dccount% and tlie ¢onstitutii)n of ihc Q"hdrity. Thcy arc invllcd io £lttLnd dn IntrodLILt()ry meetinLtr atter reviewing IhL accountq and con%iitiilion. A fiiril)cr meLting is held to discuss thc plans and futui'e of the Charity and any querit% 01) Ihe Lun%tilulion is addressed 3t this inecting. Thc new Tru.qteL is invited tu a third meetinLi lo be Li)ntirmed by the prcscnr Iloard ()[ TnisleLs and tl?cn intt'oduced to the mcmbers ol the Charity. None of the trustees li¢ any bcncficial intcrust in thL L(Impdny. All of the trustees are members ot the Lonipany and guarantee to contribiite f l in tlie ev¢ni of a winding up. VolunrLLfs Larry oui ihe Ch<irily's gFeiieral admiiiistratioii and churcli work. The Iru%lecs' pori wa.g approv¢d by ihe B()ard of-fru%lccs. cy Rcvcrcnd Jcnnifcr13rowii Tiwstee Truslee
INDEPENDENT EXAMtNER'S REPORT TO POWER PIiAISE & DELIVLRA,NCE MINIS"I'RIES INTEILNA'I'IONAL WORSHIP C'1'RE I report to tlie charity tniste¢s on Iny exaiminalion of the accoiints of the Company for the year ended 30 Nuvember 2020. Responsil)ilities and basis of report A% Ihc Lliarily's lrn%lLes of thL C.oinpdny (and also its dirLclur.% foi- tlic purposes of company law) y()U ¢ll'L rc4pon%iblc fni. tlic prcparation of Ihc accounts in dLLord¢in¢e with thc rcquircmLnts ol- Ihe Coinpanie% Acl 2006 ('the 2006 ALt'). Having satisfied inyscifihat ihc accounts of thc L".ompany are not requir¢d to bc audited undcr Ejart 16 ot'the 2006 Act and are eligible for indepcndent cxaniination, l i'eport in r¢spe¢t of my examindlion ol- your Lliarity'% accounts as caiTied out under sceiion 14.5 of thc C.'hdritics Act 2011 ('thc 201 l A¢t'). In LJrryinb' oul my exainination I have followed ihe Dii"eclions ¥iv¥n by tl)L Clidi'ity Cummission under seLlion 145{5) {b) of the 21111 ALI. IndepÈndent examiner's statement I hdiiL completcd my examinaliun. I confiiin that no Inatters have ¢oin¢ to my altentioll it) conncction with the exainination giving tne Lause ic) b¢licvc'. accounting recor(Ls were not kept in respect of the Company as required by .8ection 386 of the 2Q06 Act,. or Ihe aLcouiits do iiot aLcord with tliose r¢cords" or the accounLs do not comply with thc accountiiig i-equiremcnts af section .396 of ihc 2006 Act other than any rcquirement t]t the a¢counts givc a 'truc and fair view which is nol a malter Lonsidered as part uf an independent examination. or th¢ ac¢ounts have not been prcpared in accordance with the methods and principles of thc Sialein¢nt oIR¢coinm¢nded Pi'iiLliLe lor aLcuUntIng and reporting by Lharities applic&ble to charitics prLparin¥ their accoiints in a¢c()rdance with the kinancial Reporting Standard applicable in ihc UK and Republic ol. Ireland (FRS 102}. I havL 111) LoI)eern8 ancl hdvc Ll)Ine across iio oihLr Iraiier8 in cc)nnectioii with the cxainiiiation lo whiLh dtlLntivn shoiild bc drawi) in this I'LPOrt in L)rder to enable a prupLr uiidcTslanding ul. Ihc dLCOUlllS io bl l-Lachcd. Stephen Goodwin CJoldwin Charlered accountants 75 Maygrove Road West Hainpstead London NW6 2ECi
Power Praise & Deliverance Ministrles Internatlonal Worship Cerrtre statement of financial activities (incorporating an income and expenditure account) For tho ar gndod 30 November 2020 2020 Total 2019 Total Unrestricted Raslricted Note Income from: Donations and legacies Investment income 98,311 98,311 98,862 Total Income Expendlture on.. Charitable aclivilies.. Parish costs Mission and Evangelism 68,271 17,183 68,271 17,183 45,942 37,239 Total expendlture Net Income l (expendlturel for the year 12,860 12.860 15,681 Transfers between funds Ngt movernent in funds 12,860 12.860 15,681 Reconciliation of funds.. Total funds brought forward Total funds carried forward 6 958,421 6 971281 6 958 421 6 971281 6 942 740 6 958421 All of the above results are derived from continuing aclivilies. There were no other recognised gains or losses other than those staled above. Movements in funds are disdosed in Notes to the financial slalements.
Power Praise & Deliverance Ministries International Worship Centre Balance sheet As at 30 November 2020 2020 2020 2019 2019 Note Fixed assets: Tangible assets 7,001,327 7,001.114 Current assets: Cash al bank and in hand 4,170 4,170 3,323 3.323 Llabilities: Creditors.. amounts falling due within one year 34,216 46.016 Net current assets I Iliabilitiesl Total assets less current Ilabilities 30.046 42.693 6.971,281 6,958,421 Total net assets l (liabilities) 6,971.281 6,958,421 Funds Unrestricted funds.. 11 General funds 6,971,281 6.958.421 Total unrestricted funds 6,971,281 6,958,421 Total funds 6.971,281 6,958,421 Tho Charity's financial statements hav8 been prepaied in accordance with the provisions applicable to companies subject to the small companies regime. The Trustees consider that the Charity is entitled to exemption from the requirerTienl to have an audit under the provision of section 477 of the Companies Act 20061.the Act") 8nd members have not required the Charity to obtain an audit for the year in question in accordance with section 476 of the act. The Trustee acknowledge their responsibilities for complying with the requirement of the Companies Act 2006 wlth respect io accounring recoras anu ine preparation ot tinancial slatemenls. The financial statements were approved and aulhorised for issue by the Iruslees on and signed on their behalf by.. Inez Ri Trustee Reverend Jennlfer Brown Trustee Company registration no. 02992416 The attached notes form part of the financial statements.
Pow8r Prais# & Dèliverance Ministries International Worship Cèntr8 statement of cash flows For the year ended 30 November 2020 Note 2020 2019 Cash flows from operatlng activltles: Net cash provided by l {used inl operating activities 12 1,503 4,808 Cash Ilow$ from invosting activities: Sale/ Ipurchasel of fixed assets 16561 11,4851 Chango In cash and cash equlvalents In the year 847 3,323 Cash and cash equivalents at the beginning of the year 3,323 Cash and cash èoulvalents * the end ofthè year 13 4.170 3.323
Power Pralse & Deliverance Ministrles Internatlonal Worship Centre Notes to the financial statements For the year ended 30 November 2020 Aetounting policies al Basis of preparation The financial slalemenls have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102 - effective 1 January 20151- (Charities SORP FRS 1021 and the Companies Act 2006. The char(table company meets the definition of a public benefit entity under FRS 102. Assets and liabilities are inilially recognised al hislorical cost or transaction value unless otherwise staled in the relevant accounting policy or note. c) Golng concern The trustees consider that there are no material uncertainties about the charitable companys ability lo conlirsue as a going concern. The Iruslees do not consider Ihal there are any SDurce5 of eslimalion uncertainty al the reporting dale that have a significant risk of causing 8 m8terial adjustment to the carwng amounts of 2ssels and liabilities within the next reporting period. dl Income Income is recognised when the chanly has enlillement to the funds, any performance conditions attached lo the income have been mel, il is probable that the income will be received and that the amount can be measured reliably. Income fmm government and other grants. whether 'capilal' grants or 'revenue' grants, is recognised when the charity has entitlement lo the funds, any performance conditions attached lo the grants have been rnat, il is probab5e Ihal the income will bg received and the aMOnt can be measured reliably and is not deferred. Income received in advance for the provision of specified service is deferred until the criteria for income recognition are mel. For legacies. entitlement is taken as the earlier of the date on which either". the charity is aware that probate has been granted, the estate has been finalised and nolificalion has been made by the execulorlsl lo the charity that a distribution will be ma(Se. or when a distribution is received from the eslale. Receipt of a legacy. in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor's intention lo make a distribution. Wherè 1¢9a¢ios have been notifipd to the charilyb or thc Charity i= awarc of thc granting of probattr, and the criteria for income recognition have not been mel, then the legacy is a Irealed a5 a conlingenl asset and disclosed if material. el Donations of gifts. servlces and facilities Donated professional services and donated facilities are recognised as income when the charily has control over the ilem or received the service, any conditions associ21ecl with the clonalion have been met, the receipt of economic benefit from the use by the charity of the item is probable and th81 economic benefit can be measured reliably. In accordance with the Charities SORP IFRS 1021, On receipt, donated gifts, professional services and donated facilities are recognised on the basis of Ihe value of the gift lo the charity which is the amount the charity would have been willing lo pay to obtain services or facilities of equivalent economic benefit on the open market,. a correspondin9 amount is Ihen recognised in expenditure in the period ol receipt.
Notes to the financial statements Fgr the year Qndad 30 November 2020 1 Accounting policSes {continuedl Interest rec8ivable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity., this is normally upon nolificalion of the interest paid or payable by the bank. gl Fund accounting Unrestricted funds are available lo spend on activities that further any of the purposes of charity. Designated funds are unreslricled funds of the charity which the trustees have decided al their discretion to sel aside lo use for a specific purpose. Restricted funds are donations which the donor has specified are lo be solely used for particular areas of the charity's work or for specific projects h) Expendlture and Irrecoverable VAT Expenditure is recognised once there is a legal or conslruclive obligation lo make a payment to a third paty, il is probable th81 selllemenl will be required and the amount of the obligation can be measured reliably. Expenditure is classified under Ihe following activity headings.. Cosis Of raising funds comprise of trading cosis an(J ine costs Incurre(J f>y tne Charitakjle company in inducing third partlgs lo make voluntary contributions to it. as well as the cost of any Expenditure on chariiable activities includes the costs of delivering services and other activities ndertaken to further the purposes of the charity and their associated support costs. Other expenditure rèpresents those items not falling into any other heading. Irrecoverable VAT is charged as a cost against the a¢livity for which the expenditure was incurred. i) Allocation of support costs Support costs are those functions Ihal assist the work of the charity bul do not directly undertake charitable activities. Support costs include back office costs, finance, personnel. payroll and governance costs which support the activili8s. These costs have been a51ocated belween cost of raising funds and expenditure on charitable activities. The bases on which support costs have been jl Tangible fixed assets Depreciation is provided al rates calculated lo write down the cost of each asset lo ils eslimated residual value over ils experted useful life. The depreciation rates in use are as follows.. Land and buildings freehold Nil Plant and machinery 25Q/o Fixtures, Fillings and 2501. k} Debtors Trade and other debtors are recognised al the selllemenl amount due after any trade discount offered. Prepayments are valued al the amount prepaid nel of any trade discounts due. 11 Cash al bank and In hand Cash al bank and cash in hand includes cash and short lerm highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of tha deposit or similar m) Creditors and provisions Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due lo settle the obligatson can be measurecl or eslimaled reliably. Creditors and provisions are normally recognised al their setuement amount after allowing for any Irade discounts due.
Power Praise & Deliverance Ministries International Notes to the financial statements For the ear ended 30 November 2020 2 Income from donatlons and legacles 2020 Total 2019 Total Unrestricted Restricted Donations & gifts 98,311 98,311 98,862 98,862 98.311 3 Analysis of expenditure Mission and Parish cosls Evangelism Support costs 2020 Total 2019 Total Stsff costs Mission and evangelism Ministry costs Depreciation Parsonage expenses Advertising and promotion Light and heat Telephone & inlernel Printin9, Postage and stationary Repair and maintenance Taxi & motor expenses Insurancè Travelling and subsistence Sundry expenses Bank charges and inleresl Office expenses Sponsorship Legal and professional fees AccoLtnlancy fees Independent examiner's fees 31744 31744 5,027 11.180 443 12.047 10,694 3,163 25,866 371 14,668 424 11,2831 880 1,344 3,475 878 400 696 382 1,615 1.631 1.161 2.896 10.501 3,420 5027 11180 443 12,047 11,374 1,080 160 800 860 11.374 1,080 160 800 860 385 693 385 693 703 1.231 3,578 729 703 1,231 3,578 729 3,420 3,420 64.395 3.876 16,207 976 4,852 {4,8521 85,454 83,181 Support costs Total expenditure 2020 68.271 17.183 85.454 Totsl expenditure 2019 45,942 37,239 83,181 The total expenditure 2020.. £85,454 was unreslricted12019.. £83,181). io
Power Praise & Deliverance Ministries International Worship Centre Notes to the financial statements For the year ended 30 November 2020
4 Net income/(expenditure) for the year
This is stated after charging / crediting:
| Depreciation Independent Examiner's Fees |
2020 £ 3,420 443 |
2019 £ 3,420 371 |
|---|---|---|
5 Analysis of staff costs, trustee remuneration and expenses, and the cost of key management personnel
Staff costs were as follows:
| Staff costs were as follows: | ||
|---|---|---|
| Number of employees Salaries and wages Employer’s contribution to defined contribution pension schemes Social security costs |
2020 £ 30,653 - 1,091 |
2019 £ 10,340 354 - |
| 31,744 | 10,694 | |
| 1 | 1 |
None of the employees received employee benefits excluding pension contributions more than £60,000.
The total employee benefits including pension contributions and employer NI of the key management personnel were £Nil.
One of the trustees received the employee remuneration from the charity during the year.
6 Related party transactions
There are no related party transactions to disclose for 2020 (2019: none). Included in note 9 is a loan £11,188 (2019: £14,598) provided by one of the trustees.
7 Taxation
The charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.
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Power Praise & Deliverance Ministries International Worship Centre Notes to the financial statements For the year ended 30 November 2020
8 Tangible fixed assets
| Tangible fixed assets | ||||
|---|---|---|---|---|
| Cost At the start of the year Additions in year Disposals in year At the end of the year Depreciation At the start of the year Charge for the year Eliminated on disposal At the end of the year Net book value At the end of the year At the start of the year |
£ 7,000,000 - - Land and buildings freehold |
£ 24,593 - - Plant and machinery |
£ 24,730 656 - Fixtures, fittings & equipment |
Total £ 7,049,323 656 - |
| 7,000,000 | 24,593 | 25,386 | 7,049,979 | |
| - - - |
24,593 - - |
23,616 443 - |
48,209 443 - |
|
| - | 24,593 | 24,059 | 48,652 | |
| 7,000,000 | - | 1,327 | 7,001,327 | |
| 7,000,000 | - | 1,114 | 7,001,114 |
The freehold property was valued in 1998 at £1,500,000 and revalued again in 2017 at £7,000,000. The basis of valuation was open market valuation.
9 Creditors: amounts falling due within one year
| Creditors: amounts falling due within one year | ||
|---|---|---|
| Member's loan Accruals and deferred income Other creditors |
2020 £ 3,420 15,738 15,058 |
2019 £ 3,420 16,958 25,639 |
| 34,216 | 46,017 |
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Power Praise & Deliverance Ministries International Worship Centre Notes to the financial statements For the year ended 30 November 2020
10 Analysis of net assets between funds
| Tangible fixed assets Net current assets Net assets at the end of the year |
General unrestricted £ 7,001,327 (30,046) |
Restricted £ - - |
Total funds £ 7,001,327 (30,046) |
|---|---|---|---|
| 6,971,281 | - | 6,971,281 |
11 Movements in funds
| General funds Total Unrestricted Funds Total unrestricted funds Total funds |
£ 6,958,421 At the start of the year |
£ 98,314 Incoming resources & gains |
£ (85,454) Outgoing resources & losses |
Transfers £ - |
£ 6,971,281 At the end of the year |
|---|---|---|---|---|---|
| 6,958,421 | 98,314 | (85,454) | - | 6,971,281 | |
| 6,958,421 | 98,314 | (85,454) | - | 6,971,281 |
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Power Praise & Deliverance Ministries International Worship Centre Notes to the financial statements For the year ended 30 November 2020
12 Reconciliation of net income / (expenditure) to net cash flow from operating activities
| Net income / (expenditure) for the reporting period (as per the statement of financial activities) Depreciation Increase/ (decrease) in creditors Net cash provided by / (used in) operating activities Analysis of cash and cash equivalents £ Cash at bank and in hand 3,323 Total cash and cash equivalents 3,323 At 1 December 2019 |
Net income / (expenditure) for the reporting period (as per the statement of financial activities) Depreciation Increase/ (decrease) in creditors Net cash provided by / (used in) operating activities Analysis of cash and cash equivalents £ Cash at bank and in hand 3,323 Total cash and cash equivalents 3,323 At 1 December 2019 |
Cash flows £ 847 |
2020 £ 12,860 443 (11,800) |
2019 £ 15,681 371 (11,244) |
|---|---|---|---|---|
| 1,503 | 4,808 | |||
| £ - Other changes |
£ 4,170 At 30 November 2020 |
|||
| 3,323 | 847 | - | 4,170 |
13 Analysis of cash and cash equivalents
14 Operating lease commitments
At the balance sheet date, the charity had no financial commmitment under non-cancellable operating leases.
15 Legal status of the charity
The charity is a company limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £1.
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Power Praise & Deliverance Ministries International Worship Centre Notes to the financial statements For the year ended 30 November 2020
16 a. Analysis of net assets between funds - 2019 (prior year)
| Tangible fixed assets Net current assets Net assets at the end of the year |
General unrestricted £ 7,001,114 (42,693) 6,958,421 |
Restricted £ - - - |
Total funds £ 7,001,114 (42,693) |
|---|---|---|---|
| 6,958,421 |
b. Movements in funds -2019 (prior year)
| General funds Total Unrestricted Funds Total unrestricted funds Total funds |
Transfers £ £ £ £ £ 6,942,740 98,862 (83,181) - 6,958,421 At the start of the year Incoming resources & gains Outgoing resources & losses At the end of the year |
|---|---|
| 6,942,740 98,862 (83,181) - - 6,958,421 |
|
| 6,942,740 98,862 (83,181) - - 6,958,421 |
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