Charity Rcgi5tration No. 10425$6 Cojnpxny ReEistr#ts)n 2992416 ffjnglaLd And IVale51 POWER PIL41SE & DELIVERANCE MINISTRIES INTERNATIONAL WORSHIP CENTRE ANNUAL REPORT FOR THE YEAR ENDED 30 NOVEMBER 2022 POWER PRAISE & DELIVERANCE MINISTRIES INTERNATIONAL WORSHIP CENTRE LLGAL AND ADMINISIT114TIVE INFORMATION Trustc¢s Jennifer Brown Incz Riley Junior Stewart Patricia BeLkford Anita Johnson Michacl Miller M¢lisa Piince Virginia Ryan Warren Anderson Secr¢tary Inez Riley Charity number 1042556 Company number 2992416 Prin¢ipal address 421427 High Road Tottenhatn London N17 6QN Registered otTice 421427 High Road Tottenham London N17 6QN Independent examiner Goldwins Limited 75 Maygrove Road West Hampstead London NW6 2EG Bankers Lloyds TSB Bank PIC Lloyds Couri 28 SeLklow Gat¢ West Cw)tral Milton Keyn¢s MK9 3EH POWER PRAISE & DELIVERANCE MINISTRIES IYJ TERNATIOIYAL WORSHIP CENTRE CONTEIYTS Page Trustees, report 14 Independcnt examinerfs report Statement of financial activities Balance sheet Statement of cash flows Notes to the accounts 9-16 POWER PRAISE & DELIVLRANCE MJNISTRIES INTERNATIONAL WORSHIP CENTRE TRUSTEESY REPORT FOR THE YEAR ENDED 30 NOVEMBER 2022 The Iruslees prcs¢nt their report and accounts for the year endcd 30 November 2022. Th¢ accounls have been prcpar¢d in accordance with thc accounting policies sct out in noic I to the accounts and comply with the ch¢irity's Memorandum and articles of association, applicable law, and thc Statcm¢nt of Rccommcnded Practic¢, appliLable to charitics pr¢paring their accounts in accordancc with the Financial Rcporting Standard for Smaller Entities. Objcctives *nd aetlvltles The obj¢rts for which the charity is cstablilhed are for the advancement of Christian Faith through the spr¢ad of the giospel of Jesus Christ and the relief of poverty in the United Kingdoin. Power Praise & Deliverance Minibthes in(ernational Worship Cenire bhar¢s i(s fundamcntal beliefs with the mainstream Christian religion (of which thc following 'Statement ofFaiih' provides further details.) l. The sovereignty and grace of God the Father, God the Son and tiod the Holy Spirit in creation, providence, rcv¢lation, redeinption and final judgiem¢nt. 2. Thc divin¢ inspiration of Holy Scripture and its conscquenl entire tNstworthiness and SUPTeme authority in all matters of Idith and conduct. 3. The universal sinfulness and guilt of fallen man, makn'ng him subject to God's wrath and condcmnation. 4. The substitutionary sacrifice of the incarnaÉe Son of God ls the sole and all-sutTicicnt ￿'Ound of rcdcmption from the guilt and powcr of sin. and &om it8 eternal Lonsequences. 5. Thc justification of the sinner solely by the graee of God through faith in Christ LruLified and ris¢n frum the dead. 6. The illuminating, regener21ing, indwelling and saD¢tifyiiig Work of God the Holy Spirit. 7. The prie8thood of all believers, who fom] the universal church, thc Body of which Christ is thc Head, and which is CDmmilted by His command [() the proclamation of the Gospel through the world. 8. The divine healing of all b¢li¢v¢rs through faith in thc name of Jesus Christ. 9. The practicc of water bapiism and the bubmisgion of believers to this in obedience. commitment and proclamation according to the command and example of Jtsus Christ. 10. The expectation of the personal. visible return of the Lord Jesus Chrisi in power and glory. The trustees have paid due regard to guidanLe issued by the Charity Commission in deciding whai 2Ctii.'ities the charity should undertake. Achievements and performance I'he first quarter of 2022 continued to be different for the Charity #s we were still dealing with the effects of the pandemic, and thc impa¢t on our members and the community social, c¢onomic and religious needs. We the trustees have taken great inspiration from the way our m¢Tnbers, partners and supporters have dealt with thesc unprcccdented times. Th¢ Charity conlinues to touch lives within the community of HarinbFey dnd beyond with an sncrease of peoplc sc¢kinb guidance from the church. Wc continue lo open our door io our members and shateholders for fellowship rebuilding hope in the community. POWER PRAISE & DELSVERANCE MIf4lSTRIES INTERNATIONAL WORSHIP CENTRE TRUSTEES, REPORT FOR THE YEAR ENDED 30 NOVEMBER 2022 As the months progressed, we continued to reintroduce our vision to our shareholders and strategiz¢d on the best plan for success and productivity. One of our indin goals 16 to b¢rv¢ the community of Haringey and w'e had to redirect our focus from thc pandcmic and dcvclop new straiegies to fulfil our vision while still caring for the lives of those vulnerable to this deadly dise￿. By Q2 we started our regular ehurch qehedule and conlinued to encourage (he communiry and re- cstablish the messag¢ of hope in th¢ lives of th¢ people of the Haring¢y. £0 many lives are being touLhed a8 we also Idunched our soul winnin¥ Ldmpdigin in the streels ufTottenhdm, eaLh one reaLhing one, as we intend to restore the community of Harringay and beyond. People began to see the po%sibilitieq of pressing on through tough times. Through all the loss of live5, thosc of us who rcmain believed in the possibility of a better future. Every month the church embarks on opcning its d¢)or to thc local community fccding and ¢lothing those that are in nccd. To this end we have ¢mbark¢d on anoth¢r ¢￿IllY within th¢ Church vision called "Hands of Hope" Hot meallfrozen food aL¢ompanied by warEn Llothing, shoes etc. are shared out to those in attendance. Whilc fccding and clothing thos¢ in nccd counscllin8 is on hand and a listening ear. They are also encouraged to contsct the chureh and a supply of food and toiletries will be delivered. The Church further provides aid to the eommunily ihrough a range of services such as on io one counselling, mentoring. sclf-devclopment, and confidence building support as well as community days. concerts and specialised community cclebrations. Our evangelistic outreach entiiled "ChurLh Th'ithout Walls" "Each one Reach One and Operation Go where evangelising, singing, prayer and words of encouragement is takLn from the veslry to outside the Church. Many that passed by joined in, in ¢el¢brdlion and singing and lives were impacted, touched, changed. and received salvation and now have a place of worship io attend. We continue to proclaim and propagate the Gospel of Jesuq Christ, and in doing this we strive to assist and improve the lives of individuals across every division of the community. We continue to have our Women's,, Men's, aiid Youth ineetingg which. abFain, reaches into the communiiy and changes lives by bringing individuals. whether li be male, female, young and old, inro the fellowship and care of this Charity. Wc havc p¢r$ol￿llY s¢¢n many lives transfom)ed by these different auxiliary meetings. We are very ¢onscious of the fact that the Borough wherein this Charity is situated is very demanding socially and econotnically. We are doing our very best to bring hope, stability and olleness into this conllnunity. We also continue to stream liv¢ on-line serviLes which is recorded via Facebook. We now welcom¢ an international congregaiion reaching thousands of believers all oiler the woria in Louniries buch as, Holland, Cjennany. France, Jamaica, t)ominiea, St. Maarten & the BVI to name of few. This has enitbl¥d us tv k¢ep worship siyle fresh aiid new. Wc also incorporated"PRA STORM" whcrc prayer availablc liv¢ online to the international community. w'hicli helpcd our audienLe to reduce stress and anxicty. promotc a inore positive outlook and strengthen the will to live. This Created such an impact that on the lives of the people into coiiimunity, that we have continued"PRAYER STORM" every Wednesday. Thursday, and Saturdgy morning. POWER PRAISE & DELIVERANCE MINISTRIES 1Tr4TERNATIONAL WORSHJP CENTRE TRUSTEES, REPORT FOR THE YEAR ENDED 30 NOVEMBER 2022 We have implomenied "SPIRrruAL PARENTING" programme which allows members to check on edLh other ai least one a w¢¢k providing care for the spsritu&l needs, finan¢ial needs, and rmolional nceds. During the pandemic so many people lost their hope and joy. This programme has had such a huge succcss that we have enlarged its scope to reach out the more members of the coinmunity of Harringay al large. We are thankful for God's ongoing faithfulness and provision to the work of the charity. We have also been humbled by God's re%ponsc and provision io us with generous gifts. fundraisingi Success￿ and unfortb¢me 250,065 250.065 238,742 Total income 250,066 238,743 Expendlture on: Charitable activities.. Parish costs Mission and Evangellsm 123,512 73,996 123,512 73,996 134,396 62,218 Tatsl oxpondltur 197.508 196614 Nel Incomol (oxpondlture) for thg yoar 52,558 52.558 42,129 Transfers bebmeen funds Net movement in funds 52,558 52,558 42.129 Reconclllatlon of fund5: Total funcls brought forward T¢)tal fund$ Carrlad forward 12 7,013,410 7,065 968 7,013.410 7 065 968 6,971,281 7 013,410 All of the above results are derived from continuing activits'es. There were no other recognised gains or losses other than those slated above. Movements in funds are disdosed in Notes to the financial statements. Power Pralse & Deliverance Ministries International Worship Centre Balance sheel As at 30 November 2022 2022 2022 2021 2021 Fixed assets: Tangible assets 7,012,036 7,005,138 Current assets: Debtors Cash al bank and in hand 30,979 32.686 63.665 27.505 27,505 Llabllltlgs: Creditors.. amounts falling due wthin one year 10 9.733 19,233 Net current assets I Illabllltlosl Total assèts less current Ilabllltlos 53.932 8,272 7.065.968 7.013,410 Total net assets l (liabilities) 7,065.968 7,013,410 Funds Unrestricted funds.. 12 General ftjnds 7,065,968 7,013,410 Total unrestricted funds 7,065,968 7,013.410 Total funds 7.065.968 7,013,410 The Charity's flnancial statements have been prepared in accordance with the provisions applicable lo companies SLJbject to the small companies regime. The Trustees consider that the Charity is enlilled to exemption from the requirement lo have an audit under the provision of section 477 of the Companies Act 2006 1'lh8 Act l and members hav8 not required the Charity lo obtain an audit for the year in question in accordan￿ with section 476 of the act. The Trustee acknowledge their responsibilities for complying with the requirement of the Companies Act 2006 with respect to accounting records and the preparation of financial slalements. The financial slalernenls werg approvgd and authorised for issue by the trustees on and signed on their behalf by.. 18 June 2023 Patricia Beckford Trustse Rev Tru nn r Brown Company reglstratlon no. 02992416 The attached notes form part of the financial slalemenls. Powèr Pralso & Dalivèrance Ministrlès Internatlonal Worshlp Contro Statement of cash fl¢)w¥ For the year ended 30 November 2022 Noto 2022 2021 ash flows from op•rating actlvitie3: Net cash provided by I (used inl operating 8clivity.es 13 16,091 28,859 Cash flows from Investlng actlvltles: Salel Ipurchasel of fixed assets 110,910) 15,5241 Chang• In Cash and oqulvalgnts In th• y•ar 5.181 23,335 Cash and cash equivalents at the beginning of the year 27.505 4,170 Cash and cash equlvalents at the end of thg year 14 32,686 27,505 Powor Prals• & DellveranGe Minlstrfes Intsmatlonal Wor8hlp Cenlre Notes to the financial statements For th• y•ar gnded 30 Novambor 2022 1 Accountlng pollclgs a) Basls of preparatlon The financial statements have been prepared in accordance with Accounting and Reporting by Charities= Statement of Recommended Practice applicabl8 to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in thè UK and Republic of Irel8nd IFRS 102 - effective 1 January 20151- ICh8riti8s SORP FRS 1021 and the Companies Act 2006. The charitable company meets the definition of a public benefit 9ntily under FRS 102. Assets and liabilities are initially recognised al historical cost or transaction value unless otherwise stsled in the relevant accounting policy or note. c) Golng concern The Iruslees Consider that there are no material unc8rtainties about the charitablè company's ability lo continue as a going concèrn. The Irustees do not consider Ihal there are any sources of eslimalion uncertainty at the reporting dal8 thal have a significant risk of causing a material adjustment to the carrylng amotjnts of assets an¢J liabilities within the next reporting period. dl In￿me Income is recognised when the charity has enlitlemenl lo the funds, any performance Conditions attaGhed to the income have been mel, il is probable that the income will be re￿iVed and that the amount can be measured reliably. Income from government and other grants, whether'capitsl, grants or'revenue, grants, is recognised when the charity has entitlement lo the fvnds. any performance conditions attachèd to the grants have been mel. il is probable that the income will be received and thè amount can be measured liably and is not deferred. Income re￿Ived in advanc8 for the provision of specifi8d service is deferred until the criteria for incorlle recognition are met. For le9acies, enliuement 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 notifiGation has been made by the exeeutorlsl to the charity that a distribution will be made, or when a distribution is received from the estate. 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 nolifiod of the executor's intention to make a distribution. Where legacies have been nolif1ed lo the charity, or the charity is aware of the granting of probatè. and the criteria ft)r income racognition have not been met, then the legacy is a treated as a contingent ssset and disclosed if materfal. al Donatlons of glfts. ser¥lces and facllltlgs Donated professional services and donatèd facilities are re¢ognlsed as income when the ch8rity has control over the item or received the service, any conditions associated with the donation have been met. the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP IFRS 1021, voluntèer time is not recognised so refer lo the trustees, annual report for more infomation about their (x>nlribulion. On r￿1p1, donated gifts, professional services arKI donated facilities are recognised on the b8sis of the value of the gift lo the charity which is the amount th& charity would have been willing to pay to obtain servi￿$ or facilities of equivalent economic benefit on th8 Open market., a corresponding amount is then recognised in expenditure in the perfod of receipt. Nots6 to thg financial statsmonts For the year ￿d•d 30 Nov•mber 2022 1 Accountlng policies (conllnuedl Intèr•st r•cefvabig Inlerèsl on funds held on deposit is included when recoivable and the amount can be measured reliably by the charity., this is normally upon nolific8lion of the interest paid or payable by the bank. g) Fund aecounting Unrestricted funds are available to spend on activities that further any of the purposes of charity. Designated funds are unrestricted funds of the Charity which the trustees have decided al their discretion to set 8side lo use lor a specific purpose. ReslrKled funds are donations which the donor has specified ar9 to be solely used for particular areas of the charity's work or for specific projects being undertaken by the charity. h) Ex￿ndItUre and irrecoverabl• VAT Expenditure is recognised once there is a legal or constructive oblig8tlon to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be maasured reliably. Expenditure is classified under the following a¢livily headings.. Costs of raising funds comprise of trading costs and the costs inCu￿d by the charitable company in inducing third parties lo mak8 voluntary contributions to it, as well as the cost of any a¢tNlties with a fundraising purpose. Expenditure on charitable activities includes the costs of delivering services and other activities undertaken lo further the purposes of the charity and their 8ssociated support costs. Other expenoliturè rèpresents those items not falling into 8ny other heading. Irrecoverable VAT is charged as a Cost against the activity for which the expenditure was incurred. l) Allocatlon of 6UPPOrt ¢0sts Support ¢osts are those functions that assist the work of the charity but do not directly undertake charitable ath"vities. Support costs include back offlce costs, finanGe, personnel, payroll and governance costs whieh support the activities. These costs have been allocated between cost of raising funds and expenditure on charitable activities. The bases on which support costs have been allocated are sel out in note 3. J) Tangible fixed assets Depreciation is provided al rates calculated to write down the cost of each asset lo its estimated residual value over ils expected useful life. The daprecialion rates in use are as follows.. Land and buildings freehold Nil Plant and machinery straight Fixturès, Fittings and 250/. kl Dobtors Trade and other debtors ar8 recognis8d al the settlement amount du8 after any trade discount offered. Prepayments are valued al the amount prepaid net of any trade diswunts due. 11 Cash at bank and In hand Cash 81 bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the dale of acquisition Dr opening ol Ihe deposit or similar account. ml Crèdltors and provlslons Creditors and provisions are re￿)gnised where the charity has a present obligation resulting from a past event that will probably r8sult in the Iransf8r of funds to 8 thlrd party and the amount due lo sellle the obligation can k measured or estimated reliably. Creditors and provisions are nomially recognised at their settlement amount afttrr allowing for any trade discounts due. io Power Pralse & Doliverance Mlnlstrles Intematlonal Worshlp Centre Notes to the financlal statements For the year ended 30 November 2022 2 Incom6 from donatlons and legacles 2022 Total 2021 Unrnstrlctsd R88trlctsd Total Donations Gift aid Others 187,246 51,631 11,188 250,065 187.246 51.631 11,188 250,065 173,054 65,688 238,742 3 Anatysis of expendlturo Ml•8ion and Parlsh costs Evangollsm Support Costs 2022 Total 2021 Totsl Staff costs Mission and evangelism Ministry costs Depreci81ion Parsonage expenses Light and heat Telephone & inlernel Prinlino, postage and stationary Repair and maintenance Taxi & motor expenses Travelling and subsistence Sundry expenses Bank chaiges and interest offi￿ expenses Sponsorship Legal and professional fees Independent examiner's fees 26,082 26.082 42.673 29,459 4,012 48,097 15.571 2.454 717 5,873 5.687 1,776 250 714 4,254 5.628 601 3,660 30,164 41,093 18,609 1,713 41,663 9,342 1,293 2,139 17,365 2,871 1.964 42,673 29,459 4,012 48,097 15,571 2.454 717 5,873 5,687 1,776 250 714 889 4.002 16,433 3.641 3,420 4,254 5,628 601 3,660 ,975 196,61 {4,975) Support costs 3,111 Total expenditure 2022 123.512 73.996 197,508 Total expenditure 2021 134.396 62,218 196.614 The total expenditure 2D22.. £197.508 was unrestricted12020.. £196,614). li Power Pralse & D8llverance Mlnistries Intemational Worship Centre Notes to the financial ststsments For the yoar endod 30 November 2022 Net In¢omo11oxpgndlturn} for the yoar This is sialed after charging I crediting.. 2022 2021 Independent Examiner's Fees Depre¢ialion 3,050 4,012 2,850 1.713 5 Analysls of $taff costs, Iru$t•• r•mun•ratlon and oxpensel. and tho cost of key managom•nt personnel Staff costs were as follows.. 2022 2021 Salaries and wages Employer's contribution to defined contribution pension schemes 25.159 923 27,100 3,064 26,082 30,164 Number of employees None of the employees received employee benefits excluding pension contributions more than £60,000. The lolal employe6 benefits including pension contributions and employer Nl of the key management personnel were £Nil. One of the trustees re￿iVed the employee remuneration and parsonage Èxpènses from tho Charity during the year. 6 Related party transactlons There are no related party transactions to disclose for 2022 <2021.. none}. 7 Taxatlon The ¢haTity is exempl from corporation tax as all its income is charitable and is applied for Charllable purposes. 12 Power Pralso & Dellveranco Ministrios Intsmational Worshlp Contre Notes to the financial statements For tho yoar ondad 30 Novombar 2022 8 Tangible fixed assots Land and buildings freehold FixtLJres, fittings & equipment Plant and machinery Total C05t At the start of the year Additions in year Disposa15 in year 7.(X)O,000 24,593 30,910 10,910 7,055.503 10,910 At the end of the year 7,OlXI,000 24,593 41.820 7,066N13 Dw•clatlon At the start of the year Charge for thè yoar Eliminated on disposal 24,593 25,772 4,012 50,365 4,012 At the end of the year 29.784 54,377 Net b*x*k value At lh• •nd of the yèar 7.000,000 12,036 7,012.036 Al the start of the year 7,000.000 5,138 7,005,138 The freehold propety was valued in 1998 al £1,500,000 and revalued again in 2017 al £7,000,000. The basis of valuation was open market valuation. 9 Deblorn 2022 2021 Gift ald receivable Prepayments 30,079 30.979 10 Credftors: amounts falling duè wlthln one y•ar 2022 2021 Accruals Member's loan Other creditors 7.163 7,840 11,188 205 2,570 9,733 19,233 13 Power Pralso & Dglivoranco Mini6trie$ Intamational Worshlp Centre Notes to the financlal stalements For the yoar andod 30 Novambor 2022 11 Analpls of net a88ets betWOon funds General unrestrlcted Ratstrlctod Total funds Tangible fixed assets Nel current assets 7.012,036 53,932 7.012.036 53.932 Not auots at the ond of the year 7.065,968 7.065,968 12 Movements in funds In¢omlng At the start resources & of the year gains Outgoing resources & losses Al th• •nd Transfers of tho year General funds Total Unrestricted Funds 7,013,410 7,013,410 250,066 250,066 1197,5081 1197,5081 7,065,968 7.065.908 Total Un￿$t￿C￿d funds Total funds 7.013.410 250,066 (197,508 7.065.968 14 Power Praise & Deliveranee Mlnistrlés Intomatlonal Worshlp Centro Notes to the tlnancial statements For the yaar endod 30 Novembor 2022 13 Re¢onclllatlon of net Incom• I lexpendlturo) lo not cash flow from operatlng actlvltig8 2022 2021 Nèt In¢omo I lexpgndlture) for tho roportlng p8riad (as per tho statsment of financial actlvltlesl Depreciation Iln¢reasell decrease in debtors Increasel Idecreasel in creditors Not cash provlded by I (used In) op•ratlng actlvM•$ 52,558 42,129 4,012 {30,979) 19,500) 16,091 1,713 114.9831 28,859 14 Analysls of Gash and cash equlvalents At1 De￿mber 2021 At30 Other November changes 2022 Cash flows Cash at bank and in hand 27,505 5.181 32,686 Total ¢ash and cash equival•nts 27.505 5.181 32,686 15 Opgratlng leas0 ¢ommltments At the balance sheet date, the charty had no financial commmitment under non-cancellable operating leases. 16 Légal status of tho ¢harlty 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. 15 Power Pralsè & Dèllvoranc8 Mlnlstrles Intsmatlonal Worshlp C•ntr• Notes to the fln•n¢lal statements F¢rth• yoar ¢ndod 30 Movember 2022 17 a. Analy818 of not as5•ts botwwn fvnd8. 2021 Iprlor year) Ggneral unre8trl¢tod Rostrfctgd Total funds T3ngibl8 fixed assets NBt currÈnt assets 7.005,138 8,272 7,005,138 8,272 Not #Mèts atth¢ ond oftha year 7,011410 7.013,410 b. M¢)v•m•nts In fund$ 4021 Iprlory8arl Al the stsrt of the year In¢oming resources & gains Outgoing resources & losses At tha end ofthoy Tran$fer8 Genoral fvnds Totsl Unreslricied Funds 6.971.281 238.743 196.6141 7fv13,410 Total unrtstrl¢t¢d funds 9T1.281 238,743 11946141 7,013,410 Totsl fvnd• 971.281 238,743 196,6141 7,013,410 16