Cb#rity R¢gi5tr8tioll No. 1042556 Rtgistr8tiott No. 2992416 lEttd and Wlesl POWER PRAISE & DELIVERANCE MIIYISTRIES INTERNATIONAL WORSHIP CENTRE ANNUAL REPORT FOR THE YEAR ENDED 30 NOVEMBER 2021
POWER PRAISE & DELIVERANCE MINISTRIES TERNATIONAL WORSHIP CENTRE LEGAL AND ADMIIYISITRATIVE INFORMATION Trustees Jennifer Browtt Inez Rtley Junior Stcwart Patricia Beckford Anita Johnson Mlchael Miller Melisa Prince Virginia Ryan Warren Anderson Secretary Inez Ril¢y Charity number 1042556 Company number 2992416 Principal address 421-427 High Road Tottertham London N176QN Registered officc 421-427 High Road Tottenham London N176QN Independ¢nt examiDer Goldwins Limited 75 Maygrove Road West Hompstead London NW6 2EG Bankers Lloyds TSB Bank PIC Lloyds Court 28 Secklow Gate West Central Milton Keynes MK9 3EH
POWER PRAISE & DELIVERANCE MINISTRIES INTFRNATIONAL WORSHIP CEIYTRE CONTEIYTS Page Trustees, report 14 Indep¢nd¢nt examinevs report Statement of financial activities Balance sheet Statement of cash flows Notes to the accounts 9-16
POWER PRAISE & DELIVERANCE MINISTIUES INTERNATIOLYAL WORSIUP CENTRE TRUSTEES, REPORT FOR THE YEAR ENDED 30 IYOVEMBER 2021 The trnstees present their report and accounts for the year ended 30 November 2021. The accounts hav¢ been prepared in accordance with the accounting policies set out in notc I to thc acc4)unts nd comply with thc charity's Mcmorandum and articles of association, applicabl¢ law, and the Statement of R¢commended Practi. applicable to charities preparing their accounts in accordance with the Financial Reporting Standard for Smaller Entiti¢s. Objectives and artlvities The objccts for which the charity is established are forth¢ advancement of Christian Faith through the spread of the gospel of Jesus Christ and the relief of poverty in the United Kingdom. Pow¢r Praise & Deliverance Ministries international Worship Centre shares its fundamentsl beliefs with the mainstream Christian religton (of which the following 'Statement of Faith, provides further detsils.) l. The sovereignty and grace of God the Father. God thc Son and God the Holy Spirit in creation, providence, rcvelation, redemption and Fu1 judgement. 2. The divine inspiration of Holy Scripture and its conscquent entir¢ trustworthiness and supreme authority in all matters uf faith and conduct. 3. The universtl sinfulness and guilt of fallen rnan. making him subject to CJod's Thrdth and condemnation. 4. Th¢ substitutionary sacrifice of the incarnate Son of God as the sole and all-sufficient ground of rcdemption from the guilt and power of sin, and &om it% eternal consequences. 5. Th¢ justitication of the sinner solely by the grace of God through faith in Christ crucified and risen from the dead. 6. The illuminating, r¢g¢nerating, indwelling and sanctifying work of God th¢ Holy Spirit. 7. The priesthood of all believers, who forni the universal church, the Body of which Christ is the Head, and which is committed by His command to the proclamaliun of the Gospel through the world. 8. The divtnc healing olall believers through faith in the name of Jesus Christ. 9. The practice of water baptism and the submission of beli¢ver5 to this in obedience, commitment and proclamation according to the wmmand and example of Jesus Christ. 10. The ¢ActatIOn of the personal, visible return of th¢ Lord Jesus Christ in power and glory. The trustees have paid due regard to guidanLe issued by the Charity Commission in dcciding what activities the charity should undertake. Achievemellts and perforniance This year, was very different one for the Charity, gurviving a pandemic and aIl its unforeseen conslraints forced us into looking at the way we operate and r¢directing our goals and redering who wc are and how we operate. We the trustees have taken great inspiration from the way our memb¢rs. parthers and supporters have dealt with these unprccedented times. The Charity continues to touch lives within the community of Haringey and beyond with an increase of people seeking guidance from the Church. As the restrictions began to lift, we opened our door to our members and shar¢holders again for fellowship with limited contact.
POWER PRAISE & DELIVERANCE MINISTRtES INTFRNATIONAL WORSHIP CEIYTRE TRUSTEES, REPORT FOR THE YEAR ENDED 30 NOVEMBER 2021 As the months progressed, we reintroduced our vision to our shareholdet3 and strategizcd on the best plan for success and productivity. One of our main goals is to serve the wmmunity of Haringey and we had to redirect our focus from the pandemic &nd develop new strategies to fulfil our vision while still caring for th¢ lives of those vulnerable to this deadly disease. By Summer 2021 we started our gular progrdms and ran a ten-month conference to encourage the community and re-establish the message of hope in the lives of the people of thc Haringey. So many lives wcrc touehcd as people began to sce the possibilities of pressing un thr()ugh tough times. Through all the loss of livcs, those of us who remain iKlicved in the possibility of a better future. Every month the church embarks on opcning its door to the local community feeding and clothing those that are in need. To this end we have embarked on another entity within the Church vision called "14ands of Hopc" Hot meavfrozen food accompanied by wami clothing, shoes et¢. are shared out to those in attendance. While feeding and clothing those in need counselling is on hand and a listening ear. They a also encouraged io contact the church and a supply of food and toiletries will be delivered. The Church further provides aid to the community through a range of services such as on to one counsellin& mentoring, s¢lf-development. and eonfidence builditig support as well as community day& concerts And specialised community celebrations. Our evangelistic outreach entitled "Church without Walls., "Each one Reach One and Operation Go whe evangelising, singin& prayer and words of ¢ncouragcmcnt is taken from the Yesty to outside the Church. Many that passed by juined in, in celebration and singing and lives were impacted. lov¢hed, changed, and received salvation and now have a place of worship to attend. We continue to proclaim and propagate the Gospel of Jesus Christ, and in doing this we striv¢ to assist and improve th¢ lives of individuals across evcry division of the community. W¢ ¢ontinue to havc our Women's,, Men's, and Youth me¢lings which, agaiw r¢a¢hes into th¢ community and changes live8 by brirlging individuals, whether it be male, fem&l¢, young and old, into the fellowship and care of this Charity. We have personally seen many lives transfomicd by these different auxiliary meetings. We ar¢ very Lonscious of the fact thatth¢ Borough wherein this Charity is Situated is very demandTng socially and economically. We arc doing our vcry best to bring hope, stability and oneness TTito this community. We also continue to stream live on-line services which is r¢cordcd via Facebook. We now welcome an international congregation reaching thousands of believers all over th¢ world in coumtries such as, Holland, Germany, France. Jamaica, Dominic4 St. Maarten & the B VI to name of few. This has enabled us to keep worship style fresh and new. We also incorporated "PRAYER STORM- where prdy¢r was available live online to the intsrnational community. which helped our audience to reduce stress and anxiety, promote a more positive ouilook and strengthen the will to livc. This created such an impact that on the lives of the people inlo community, that we have continued"PRAYER STORM" every Wednesday, Thursday. and Saturday morning. We have implemented '%PIRITUAL PARENTING" progrdmme whi¢h allow5 members to check on each other at least one a week providing care for the spintual need& financial needs, and emotional needs. During
POWER PRAISE & DELIVERANCE MINISTRIES INTERNATIONAL WORSHIP CENTRE TRUSTEES, REPORT FOR THE YEAR ENDED 30 NOVEMBER 2021 the pandemic so many people105t their hope and joy. Thi5 progrnmme has had such a huge success that we have enlarged its scope to reach out the more members of the community of Harringay at large. We are thank] for God's ongoing faithfulness and provision to the work of the Lharity. We have also been humbled by God's response and provision to us with generous gifts, fundraising successes and unforeseen avenues of funds which have opened, as th¢ year end closed with uncertainty looming for all charities like our own. We continue to be blessed by the skilled and dedicated people who work and volunteer for us. which has ensured that we can continue operating wath and for the community of Harringay which we support. We look forwarding to the new year, as we have installed a new team of trustees and appointed some new Directors, which we believe shares our same visioll and will help propel us into n¢w dimensions of vision d productivity. W¢ hop¢ that we Can be mor¢ impactful to the community providing confTden¢e and strength that we will get through this together. Finantial revieiv It is th¢ policy of the charity that free reserves (those funds not tied up in fixed asset4 and designated and restricted funds) should be maintained at a level equivalent to two month's expenditure (approximatcly of 50.000). The twstees consider reserves at this level will eDsure thaL in the event of a significant drop in donations, they will be able to LQlltinue the charitys current activities whil¢ ¢onsid¢rntion is given to ways in which additional funds may be rnised. At 30 November 2021 the charity held positive free reserves, with funds being ticd up in fixed assets. The trustees are also aware of the need to increase the metnbership and are QuentlY considering the best way to achi¢v¢ this. The trustees are in the process of assesstng the risks facing the charity and fornialising a strate&v to reduce them to an a¢ceptance level. We have now installed new Trustees and Directors which will bring a fresh mindset and new ideas to bring the charity into all round success in goal achi¢v¢mcnt. There are plans to incorporate a banqueting hall and th¢ Trustees are looking into this in mor¢ d¢tail. Plan alw to open a creche. Structurey goverllallce alld management The tnistees, who a also the directors for the putyo% of compony law, and who s¢rve(E during the y were.. J¢nnifer Brown Joshua Stewart Warren Anderson Inez Riley New'l"rustees ar¢ appointed cvery two years. The new Trustees are given a copy of the latest set of a¢¢ounts and the constilution of the Charity. Th¢y arc invited to attend an introductory meeting after revieiving thc
POWER PIL41SE & DELIVERANCE MINISTRIES INTERNATIONAL WORSHIP CENTRE TRUSTEES, REPORT FOR THE YEAR EfsDED 30 IYOVEMBER 2021 accounts and constitution. A further meeting is held to discuss the plans and future of the chlty and any queries on the constitution is addressed at this meeting. The n¢w Trustee is invited to a third meeting to be confirnled by the present B(wd of Trustees and then introduced to the members of the Charity. Non¢ of the trnste¢s has any ben¢fi¢ial interest in the COTnpany. All of the trustees are members of the company and guarantec to contribute in the event of a winding up. voluntee ¢arry out the Chartty's general administration and church work. The trustees, report was approved by the Board of Trustees. Inez Ril Trustee ve nd Jen ifer Brown 22
INDEPENDE,YT EXAMINER'S REPORT TO POWER PRAISE & DELIVERANCE MINISTRIES ITrITERNATIONAL WORSHIP CENTRE I report lo the charity trustees on my examination of the accounts of the Company for the year ended 30 November 2021. Responsibilities and basis of report As the charity's tLWStees of the CoMpEY land also its direLtors for the purposes of company law) you are [eSpoble fui the preparation of the accounts in accordance with the requirenients of the Companies Act 2006 {'the 2006 Act.). Having satisfied myself that the accounts of the Cumpany are not TeqLtir¢d to be audÈted under Part 16 of the 2006 ALt and ale cli¥ible for Indedent examination, I report in respect of my exatnination of your charity's a¢count$ 2q carried oiit under section 145 of the Charities Act 2011 I'thc 2011 Act,). In carrying out my exaiiuDation I have followcd the Directions given by the Charity Commission under se¢tion 145(5) (bl of the 2011 Act. Indepettdent examiner's statement Since the Company's OsS income exceeded £250,000, E confirm that l am qualified to undertake the examination because l am a member of the ICAEW. which is one of (he listed bodies. I have completed my examination. I confinn that no matters have cotne to tny attention in connection with the examinaiion gFiving¥ me vause to believe.. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Aet., or 2. the accounts do not accord with those records., or 3. the accounts do not Comply with the aLLountin¥ requirements of section 396 of the 2006 Act oiher Ihan any requirement that the accounts give a 'ttue and fair vicw which is noi a matier considered as part of an independcnt examination; or the accounts have not been prepared in accordanc¢ with the methods aEkd principles of the Statement of Recoininended Practice for acLountinby and reporting by charities applicable to charities preparing their accounts in aLcordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). I have no concerns and have come across no other m2tters in connection with the examination lo whiLh attenlion should b¢ drawn in this report in order to ettable a proper understanding of th¢ accounts to bc rcached. 29 September 2022 Stephen Goodwin Goldivins Chartered accountamts 75 Maygrove Road West Hampstead London NW6 2EG
Power Praise & Dellverance Mlnlstries Intemational Worshlp Centre Statement of financial activiti8s (incorporating an income and expenditure accounll For the ear ended 30 Novembor 2021 2021 Total 2020 Totsl Unrestricted Restricted Note Income from: Donations and legacies Investment income 238,742 238,742 98.311 Total income 238 743 Expendlture on: Charitsble activities.. Parish costs Mission and Evangelism 134,396 62,218 134.396 62,218 68,271 17,183 Totsl expenditure 196 614 196 614 Net income l {expendlturel for the year 42,129 42.129 12.860 Transfers beeen funds Net movement in funds 42,129 42,129 12,860 Reconeiliation of funds.. Total funds broughl forward Total funds carrled forward 6 971.281 7 013 410 6 971 281 7 013 410 6 958 421 6 971 281 All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those slated above. Movements in funds are disclosed in Notes to the finan¢ial statements.
Power Praise & Deliverance Mlnislries International Worship Centre Balance sheet As at 30 November 2021 2021 2021 2020 2020 Note Fixed assets: Tangible assets 7,005.138 7,001,327 Current assets: Cash al bank and in hand 27,505 27,505 4.170 Liabilities". Creditors.. amounts falling due wthin one year 19,233 34,216 Net current assets I Iliabilitie51 Total assets less current liabilities 8,272 30,046 7,013,410 6,971,281 Total net assets l (liabilities) Funds Unrestricted ftjnds.. General funds 7,013,410 6,971,281 11 7.013,410 6,971,281 Total unrestricted funds 7,013,410 6,971,281 Total funds 7,013,410 6.971,287 The Chariws financial statements have been prepared in accordance with the provisions applicable to Companies subject lo the small companies regime. The Trustees consider that the Charity is entitled lo exemption from the requirement lo have an audit under the provision of section 477 of the Companies Act 20061"Ihe Act") and members have not required the Charity to obtain an audit for the year in question in accordance wlh section 476 of the act. The Trustee acknowledge their responsibilities for complying with the requirement of the Companies Act 2006 wrth respect to accounting records and the preparation of financial statements. The financial sl8tements were approved and aLtlhorised for issue by the trustees on and signed on their behalf by.. Inez Riley Trustee en Jennifer Brown Company registration no. 02992416 The attached notes form part of the financial stalernenls.
Power Pralse & Deliverance Ministries Intematlonal WoT5hip Centre Statement of cash flows For the year ended 30 November 2021 Note 2021 2020 Cash flows from operating activities: Nel cash provided by l (usecl inl operating aclFVities 12 28,859 1,503 Cash flows from investing activitigs: Sale/ Ipurcha5el of fixed assets 15.5241 16561 Change in cash and cash equivalents in the year 23,335 847 Cash 3nd cash equivalents at the beginning of the year 4,170 3,323 Cash and cash equivalents at the end of the year 13 27,505 4,170
Power Pralse & Deliverance Ministrles International Worship Centre Notes to the financial statements For the year ended 30 Novèmber2021 Accounting polici9S al Basis of preparation The fin8ncial statements have been prepared in accordance with Accounting and Reporting by Charities= Slalemenl of Recommended Practi applicable to charities preparing their accounts in accordance with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland IFRS 102- effective 1 January 20151- (Charities SORP FRS 1021 and the Companies Act 2006. The charitable company meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or Iransacts'on value unless otherwse 8laled in the relevant accounting poliGy or note. el Golng concern The trustees consider that there are no material uncertainties about the charitable companls ability lo continue as a going concem. The Iruslees do not consider that there are arsy sources of estimation uncèrtainty at the reporting date that havè a significanl risk of causing a material adjustrn8nl lo the carrw'ng amount5 of assets and liabilities within the next reporting period. dl Income Income is recognised when the charf(y has entement lo the funds, any performance conditions altsched to the income have been met. it is probable that the income will be roceived and that the amount can be measured lIablY. Income from government and other grants, whethèr '¢apital' grants or 'revenue' grants, 18 recognised when the charity has enlillernenl to the funds, any performance conditions attached lo the grants have been mèt, it is probable that the income wll be received and the amount can be measured reliably and is not deferred. Income received in advance for the provision of specified seTvice is deferred until the criteria for income recognbtion are met. For legacies, entitlement is taken as the earlier of the date on which either.. the charity is aware that probate has been granted, the estste has been finalised and nolificalion has been made by the &xecutor{sl to the Charity that a distribution will be made, 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 measured rèliably and the charity has been notrfied of the executor's intentK)n to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met. then the legacy is a treated as a contingent asset and disclosed if material. e) Donatlons of gifts, servlces and facilities Donated professional services and donated facilities are iecognised as income when the charity has control oveT the item or reiVed the servicé, any oondilions associated with the donalDn have been met, the receipt of economi¢ benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. ln accordance with the Charities SORP IFRS 1021. volunteer time is not recognised so refer to the Iruslees, annual report for more information about thèir contribution. On receipt, donated gifts, professional ServIS and donated facilffcies afft recognised on the basis of the value of the gift to the charity which is the amoLJnl the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market.. a corresponding amount is then recognised in expenditure in the period of receipt.
Notes to the financial statements For the year ended 30 Novemb8r 2021 1 Accounting policies Icontinuedl Interest recelvable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity,. this is normaljy upon notifatron of the interest paid or payable by the bank. gl Fund accounting Unrestricted funds are awailablo to SP8nd on activit185 that further any of the purposes of charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion lo set aside to use for a specific purpose. Reslricted funds are donations which the donor has specified are to be solely used for particular aaS of the charity's work OT for specFfic projects being undertaken by the charity. h) Expenditure and irrecoverable VAT Expenditure is recognised once there is a legal or constructive obligation to make a payment to a Ihird paty, it is probable that settlement will be required and the amount ol the obligation can be measured reliably. Expenditure is classified under the following activity headin9S'. Costs of raising fLJnds comprise of trading costs and the costs incurred by the charitable company in inducing third parties lo make voluntary contributions lo it, as well as the cost of any 8¢1ivllies with a fundralsing purpose. Expenditure on Gharitable activities includes the costs of delivering ServIS and other activities undertaken to further the purposes of the Gharity and their assoGiated support costs. Other expenditure represents those items not falling into any other heading. Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred. il Allocation of support costs Support cost5 are those functions that aSSlSt the Work of the charity bul do not directly undertake charitable activities. Support costs include back oftice costs, f5nance, personnel, payroll and govemance costs which support the aclivilies. These costs have been alloealed beiween cost of raising funds and expenditure on charitable activities. The bases on which support costs have been allocated are set out in note 3. j) Tangible fixod assets Depreciation is provided al rates calculated to write down the cost of each asset lo ils estimated residual value over ils expected useful life. The depreciation rates in use are as follows.. Land and bulldings freehold Nil Plant and machinery 2510 Fixtures, Fittings and 25% kl Debtors Trade and other debtors are recognised al the settlement amount due after any trade discount offered. Prepayments are valued al the amount prepaid net of any trade discounts due. l) Cash at bank and in hand Cash at bank and cash in hand includes cash and short teTm highly IiqLtid investments with a short maturity of three months or less from the dale of acquisition or opening of the deposit or similar account. ml Creditois and provisions Creditors and provisions ar8 r@cognis8d where the charity has a present obligation resulting frorn a past event that wll probably resu51 in the transfer of funds to a third paty and the amount (Jue lo setue thè obligation can be measured or eslimaled reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. io
Power Praise & Deliverance Minislrtes International Note5 lo the financial statements For the year ended 30 November 2021 2 Income from donatlons and legacies 2021 2020 Unrestrlcted Restrlcted Total Total Donations Gift aid 173,054 65,688 238,742 173,054 65,688 238,742 98,862 98,862 3 Analysls of expendlturè Mission and Parish costs Evangelism Support costs 2021 Total 2020 Total Staff costs Mission and evangelism Ministry Costs Depreciation Parsonage expenses Light and heat Telephone & internet Printing, postsge and stationary Repair and maintenance Taxi & motor expenses Travelling and subsistence Sundry expenses Bank charges and interest ONice expenses Sponsorship Legal and professional fees Independent examinerfs fees 30,164 30,164 41,093 18,609 1,713 41,663 9,342 1,293 2,138 17,365 2,871 1,964 13 889 4,002 16.433 3,641 3.420 31.744 5,027 11,180 443 12,047 11,374 1,080 160 800 860 385 693 703 1,231 3,578 729 3,420 41.093 18,609 1,713 41,663 9,342 1,293 2.138 17,365 2,871 1,964 13 889 4,002 16.433 3,641 3,420 28,962 5,434 59,702 2,516 7.950 17.9501 196.614 85,454 Support costs Total expenditure 2021 134.396 62,218 196.614 Total expenditure 2020 68,271 17,183 85.454 The total expenditure 2021.. £196.614 was unrestri¢ted12020'. £85,454). li
Power PraSse & Deliverance Ministries Internatlonal Worshlp Centre Notes to the financial statements For the year ended 30 November 2021 4 Net incomellexpenditurel for the year This is stated after charging I crediting= 2021 2020 Independent Examinerfs Fees Depreciation 3.420 1.713 3,420 443 5 Analysis of staff costs, trustee remuneration and expenses, and the cost of key management personnel staff costs were as follows". 2021 2020 Salaries and wages Employer's conlribijlion lo defined contribution pension schemes 27.100 3.064 30,653 1,091 30,164 31.744 Number ofemployees None of the employees received employee benefits excluding pension contributions more than £6D,000. The lolal employee benefits including pension contributions and employer Nl of the key management personnel were £Nil. One of the Iruslees reiVed the employee remuneration and parsonage expenses from the charity during the year. 6 Related party transactions The are no related party Iran5aclions lo disclose for 2021 12020- none). Included in note 9 is a loan £11.18812020-. £11.188) provided by a member. 7 Taxation The charity is exempt from wrporation lax as all its income is Charitable and is appli¢d for charitable purposes. 12
Power Praise & Deliverance Ministries International Worship Centre Notes to the financial statements For the year ended 30 November 2021 8 Tangibl¢ fix assets Land and buildings freehold Fixtures. fittings & equipment Plant and machinery Total Cost At the start of the year Additions in year DSsposals in year 7,000,000 24,593 25,386 7,049.979 5.524 5,524 Al the end of the year Depreciation Al the start of the year Charge for the year Eliminated on disposal 7,000,000 24,593 30,910 7,055,503 24,593 24.059 1,713 48.652 1.713 Al the end of the year 24.593 25,772 50.365 Net book Value At the end of the year 7,000,000 5.138 7,005,138 Al the start of the year 7,000,000 1,327 7,OJ1,327 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 2021 2020 Accrua15 and deferred income Member's loan Other creditors 7,840 11,188 205 3,420 15,738 15,058 34,216 13
Power Praise & Deliverance Mlnlstrles Internalional Worship Centre Notes to the financlal statements For the year ended 30 November 2021 10 Analysis of net assets between funds G8noraS unrestrlcted Restricted Total funds Tangible fixed assets Net current assets 7,005,138 8,272 7.005,138 8.272 Net assets at the end of the year 7,013,410 7,013,410 11 Movements in funds Incoming Al the start of resources & the year gains Outgoing resources & losses At thè end Transfers of the year Ggneral funds Total Unrestricted Funds Total unrestricted funds 6,971,281 6,971,281 238,743 238.743 196,614 196,614 7 013,410 7,013,410 Total funds 6,971,281 238,743 196,614 7,013,410 14
Power Praise & Deliverance Ministries International Worship Centre Notes to the financial statements For the year ended 30 Novem1 2021 12 ReconcS1iation of net income l {expenditurel to net cash flow from operatlng activltles 2021 2020 Net income I (expenditure) for the reportlng period las per the statement of flnancial actlvitlesl Depreciation Increasel Idecreasel in creditors Net cash provided by I (used inl operating acfjvities 42,129 12,860 1,713 (14,9831 28,859 443 111,8001 1,503 13 Analysis of cash and ca$h equivalents Atl December 2020 At30 Other Novembar changes 2021 Cash flows Cash at bank and in hand 4,170 23,335 27,505 Total cash and cash equivalents 4,170 23,335 27,505 14 Operatlng lease commitmants Al thg balan sheet date, the charity had no linancial commmitmenl under non-cancellable operating 18ases. 15 Legal status of the charlty The charity is a company limited by guarantee and has no share capitsl. The liability of each member in the event of winding up is limited lo £1. 15
Power Praise & D8liYeranc& Ministrles Internatlonal Worship Centr8 Notès to the finan¢lal statements For thè ar ended 30 November 2021 16 a. Analysis ol net ass•ts tween funds- 2019 Ipr)rye8rl General unrestTIGtsd Re8trlcted Total fund5 Tangible fix8d assets N&t cuirent asss 7,001,327 130.0461 6,971,281 7,001,327 130,046 6.971.281 Net a$¥ets at tho end of the year b. Movements In fvnd5-2019 Iprloryearl Incoming resources & gain8 Outgolng re50ur¢6s & bss88 At the start f the year At th6 end of the year Transfers General funth Totsl Unrestrict8d Fund5 6.958,421 98,314 85,454 6,971.281 Total unre5trlctsd fund$ 6.958.421 98,314 8&454 6,971,281 Total fvnd5 6.958.421 98.314 85,454 6.971,281 16