Charin, Regi%trxtio No. 1042556 Companv Regi5traiion No. 2992416 (Fngland W¥lcs} POWER PRAISE & DELIVEIUNCE MINISTRIES INTERNATIONAL WORSHIP CFNTRE ANNUAL REPORT FOR THE YEAR ENDED 30 NOVEMBER 2023
POWER PRAISE & DELIVERANCE MINISTRIES INTERNATIONAL WORSHIP CENTRE LEGAL AND ADMINISI'I'IL4TIVE INFORMATION l-rustecs Jennifer Brown Incz Riley Junior Stewart Patricia Bwkford Anita Jvhn50n Michael Miller Melisa Prince Virgjinia Ryan WatTCll Andcrson Secretary Inez Riley Charity iiuinber 1042556 CoTnpany number 2992416 Principal address 421427 Higb Road Toiienham London N176QN Registered offiee 421-427 High Road Tottcnliam Londoii N176QN Independ¢nt ¢xamincr Goldwins Limited 75 Maygrove Road Wesi HnpStead London NW6 2EG Bankers Lloyds TSB Bank PIC Lluyds Court 28 S¢cklow Gate West Central Milton Keynes MK9 3EII
POWER PRAISE & DELIVERANCE MINISTRIES INTERNATIONAL WORSHIP CENTRE co.[ENTs Page Trustees, report 14 Independent examiner's report Statement of financial activities Balance she¢t StateTnent of ¢h flow$ NO1 io ihc accounts 9-16
POWER PIUISE & DELIVERANCE MINISTRIES INfERNATIONAL M'ORSHIP cETRE TRUSTEESY REPORT FOR THE YEAR ENDED 30 NOVEVIBER 2(I2.8 The trustees pr¢sent their report and accounts for the ycar cndcd 30 Novemb¢r 2023. The accoiints have been prepared in accordance with the accoiinting policies sei oiit in notc I to the accounts and comply wilh the charily's Memorandum and articlcs of aq80¢iation. applicablc la,, aiid thc Statcmei)t of Rccommcndcd Practice, applicablc to charitics prcparing their accounts in (Iccordancc with the Financial Reporting Standard for Smaller Entities. Objectives and actffivities The objects for which thc charity is established are for the adv¢in¢¢nient ot Christian Faith through the qpread of the gospel of Jesus Christ and the reliefof poverty in Ihc United Kingdom. Pol'e Praisc & Deliverance Mini8tric.% international Woiship Ccntre share.£ ils lisiidameiital beliefs M'ith the mainstr¢ain Christian religion (of which thc following'stalemeni ol. Faiih, proirides furthet details.) The sovereignty and ¥iaLe vf God the bather. God the Son and God the Holy Spirit in creation. providence, revelation. rcdcmption and final judgcinent. 2. The divine inspirntion of Hc)ly Scripture and its consequ¢nt cntirc tNstworthine5S 8nd siipreme auihority in all Matte of faith and conduct. -1. The universal sinfulness and guilt of fallen man, making him subject to God's wrath and condeiniiation. 4. Thc substitutionary sacrifice of thc incarnate Son of God as the sole and £ill-%uffici¢nt grouiid of redemption from the guilt and power of sin, and &om its eternal consequences. 5. Tlie justification of the sinner solely by the grace of God through faith in ChTi.%l crucified and risLn from the dead. 6. The illuminating, r¢gcnerating, indwellii)g and sanctifying work ol-tiod the Holy Spirit. 7. The priesthood of all believers. who fom) th¢ univ¢rsal chiirch. the Body of wliich Chrst is the Hedd. dnd which is committed by His command to the pioclamation of the Goqpel througli the woi'ld. 8. The divine healing of all bclicvers through faith in ih¢ name of Jesus Chrisi. 9. The practice of waler baptiqm and ihe submission of bcliever% tn thi% in obcdicnce, cominitiiiciit and pio)clamation according to ihc command and example of Je%ii% Christ. 10. The eXptation of the personal, visible return of the Lord Jesus Chrisi in power and glory. The tnistces have paid due re(Fard ro guidancc issued by the c.harity Commission in deciding what activitics the iharity should underiake.
POWER PRAISE & DELIVERANCE MINISTRIES INTERNATIONAL WORSHIP CENTRE TRUSTEES, REPORT FOR THE YEAR ENDED 30 NOVEMBER 2023 Achievements and perform#nce During the past yedr the ehurch l)as continued its worship, fellow%hip and mi$8ion. We the IstetS have taken great inspiration from the way our memberq. partners and siipporters have dealt with thcse unprecedented times as the world coniinues lo changc. Tlic Charity coniinueg to louch livcs within the comniunity of Elaringey and beyond with an incrcasc Ot pcople seeking guidanL¢ froni th¢ chwch. We continue to open our door to our inembers and shareholders tor fellowship i'ebuilding hope in the community. As the months progress¢d, we continued to reintroduce our vision to our shareholders and strat¢gizcd on the besl plan for success and produ¢tivity. One of our main goal8 1$ to %ervc thc community of Haringey and we hai'c bccn vcry active in cominunity huilding and caring for those iii iieed. We havc now startcd our regiilar church 5ch¢diilc )d coiitiiiued to enLuiirdLT¢ thc comiiiuniiy and re- establish the message ofhope in the lives of ihc people uf the Hdringey. So many lives are being touched as wc al.%ft launched our soul winning campaign Èn th¢ strccts of Toiienhain, e<iLli oiic rcacliing onc. as we intend to Festore the coinmunity of Harringay and beyond. Peuple bcgdn to see the possibilities of pres5illg on thruugh tou times. Through all ihe loss of lives, those of us who renic1il) bLliei."ed in lh¢ possibility of a better fiiture. F.very month thc church embarks on opening its door to tlic local cominunily feLdiRLI and Llotliin&T Il)osc that are in need. To Ihits end we havc embarked on anorher entiiy withii) the Church vision called "Hands of Hopc Hot meallfrozcn food accoinpanied by warm clothing. shoes etc. are %hared out to those in attcndance. While feedinLy and Lloihing ihosc li) need counselling is oil liaiid aiid a libt¢nin&r iar. They arc dlso cneouraged to contact the church and a supply of food and toiletries will be delivered. The Chuirh fijrthcr provides aid to the coinmunity through a raiigc of scrviccs such as on to one couiisellingT, Inciitoriiig. self-developmenl, and Lonfid¢nce building support as well as community days, concerts lind specialised community celebrations. Our evangelistic ouireach entiil¢d "Church without Walls" "Each one Reach One and Qp¢ratioi) Go whcre evangelising, singing, prayei" and M'oids of cncouragcinent is taken Irom the vestry tu ()ut%ide the Church. Maiiy that passed by joined in, in celebralion and %ingTjiig dnd lives w'cre iinpacicd, touched, ehanged, and received salvarion and now have a place of worship to attend. We contit)u¢ to proclaim and propagate the Gospel of Jesus Chri.%t, and in doiiig tliis wc strii'e to a%s2%t and iiiiprove the lives of individuals across every division of the conimunity. We continue to have our Women'5', Men's, and Youth meetÈng8 which, again. reaches into the Lomjnunity and changes lives by brin¥ing individuals, wheiher it be Iiiale, feinale, young and old, into the fellowship and care of this Charity. We have pcrsonally seen many lives Iransf()mied by these different auxiliary meetings. We are very conscious of thc fact that thc Borough wherein this Charity situated is i'¢ry dciiiandiiig socially and economically. We are doing oui. veiy best to bring hopc, stability and oneness into this Cummunity. We also continue to str¢am live on-linc servic&q which is rccorded via Fa¢¢book. Wc now wclcome an intcrnalional congregation rcaching thousands ofbclici.'crs all over th¢ world in COLuilrics sucll as, Holldnd, (ierniany. France, Jamaica, Dominica, St. Maarten & the B Vl to name of re". This ha% enahled u% to keep worship Style fresh and new.
POIVER P1141SE & DELtVERANCE MINISTRIES INTERINATIONAL M'ORSHIP CENTRE TRUSTEES, REPORT FOR THE YEAR ENDED 30 NOVEMBER 2023 W¢ also incorporated 'PRA YER STORM" where prayer was availdble live online to the intcrnationa community. which helped our audi¢nce to rcducc stregg and anxiety, promote a mole positiyc outlook and strengthen the will to live. This created such an impact that on the lives of the people intn Coinniuniry, th1( t we have continued"PRAYER STORM" every Wednesday. Thursday, and Saturday morning. We have implemet)Icd "SPIRITUAL PARENTtNG" progratnme which allows iiiembcrs to check on each other at l¢asl one a w¢ek providing care for the spiritual needs. financial needs, and emotional needb.. This prograinme has had such a huge su¢ccss ihat wc havc cnlargcd its scope to reach out thc more mcinbcrs of thc commiinity of Hairingay ai larg¢. Wc arc thanktul for God's ongoing faithtulness and provision to the ivork of Ilic chtry. We liave al80 been hwi)bled by God's response and provision to u4 with gTenerous gifis. fundraising.quce¢8qcq and unforc.%cen avenues of funds which hai'e opened, as thc ycar cnd closed w'ith uiicertainly loomiiig for all charitics likc our vwn. Wc continue to be blcssed by th¢ skillcd and dedicated people wlio work and vvluntcer foF US. which has eiisured thai we can continu¢ vpiratiiig with dnd for rhe comniunily of IlatTing2y Nkhicli we support. We look foThN'arding to the new year, as our new team of trustees and Directors, continue to s1)are our saiiic vision dnd will help propel us into new dimensions ofvision and productivily. We hope that 'e can be more impaciful to the community providing confidei)ce and strcngth that wc 111 get through this togcthcr. Financial review It is the policy of the Charity that frec reserves (thuse funds noi tied up in fixed a%.%¢t4 and d¢%igllc2ted and r&qiricied fund8) should be tnaintaincd at a Icvel cquii.'alent to two month'.% expenditurc (approximately ol- 50,0001. The trustees consider reserves at this level will ensure that, in the event ot. a sigiiificant drop in donations, thcy will bc ablc 10 coniinue the charity's currcnt activitics ivhilc consideration is given to rayS iii whicli additional funds may be raised. On 30 Novcmb¢r 2023 the charity held pobitive free reberves. wilh funds b¢ing tied up in Iixed asseis. The trustees are also aware of th¢ need to in¢aSe thc mcinbership and are currenily con.qidcring the bcst way to achieve this. The iruqtees are in tl)L proccss of a%scssing the risks facing thc charity and f0rn121ising a strdtcgy to rcduce them to an auLcptanLe lei'cl. lliere are renovation pl on the way lo restore our pldce uf worship, 10 give us the opportunity to use the building to ¢ontinu¢ io host cvcnts and programs to bctter impact the community. There are plans to incorporate 2 banqueting hall and th¢ Trustees are looking into this in more detail. Plan also to opcn 2 ¢r¢chc.
POWER PRAISE & DELIVERANCE MINISTRIES INTERNATIOliAL M'ORSHIP cETRE TRUSTEES, REPORT FOR THE YEAR ENDED 30 NOVEMBER 2023 Structureg governance 3nd management The tru5te¢s, who arc also the directors for the purpose of company law, and who servcd during the year were.. Jennifer Bro] Joshu<i Stewart Wdrren Anderson New Trustees are appointed every two ycars. Thc ncw TrLlStecs are giyen a Copy of the latest scl ofaccounts and the constituiion of the Charity. Thcy are invited to altend ali intruductvry Ineeting after reviewing the accounts and constitution. A further meciing is held to discuss the plans and future of the ('harity and any queries on the constitutian is addrcssed at this meeting. The new Trust¢e is invited to a tliii'd nieetins tu be coiifiniied by the preseni Board of Trust¢¢s and Ili¢n introduced lo the Ineiiibers vf IhL Ch#nlV. None of the trnstecs has any beneficial interest in the comp3ny. All of the trustees are members ()f the company dnd ¥Udiantee to contribute in the event of a windinu up. Volunteers carry out the Chariiy's gencral administration and churcli ork. The trustees, report was approved by the Board of Trusieeq. Pitricia Beckford Trustee Rcvcrend Jennifer Brown Trustee Daied.. Datc..
INDEPENDENT EXAMINER?S REPORT TO POM'ER PIL4ISI,: & DELIVEIL4NCE MINISTRIES IN'I'ERNATIONAL WORSHIP CENTRE I i¢port to the Lharity Irustees on my exaMItion of the accounts of the Conipany for the year ended 30 November 2023. Responsibilities and basis of report As tEL¢ charity's trnstees of the Coinpany land also its directorb for th¢ puOse5 of company laiv) you are responsiblc tor the pi'eparation of the a¢¥ounls in accordance wiih the rcquiremcnts of the Compani¢s Act 2006 ('Ihe 2006 Act.). Having satisfied myself that the accounts of the Company are not rcquired to be audited under Part 16 of the 21K)6 Act and are eligible for indcpendent examination, I report in ILswct of my examination of your charily's a¢countts as carried out under section 145 ()f th¢ Charities Act 2011 ('the 2011 Act.). Jn carrying out Iny examination I have followed the Directions given by the Charity Cominission uRd¢r %¢¢tion 14515) Ib) of thc 2011 Act. Illdepelldent examiner's statement Sit)cc the Company's gross income exce¢d¢d £250,000, I conftnn that l am qualified to undcrtak¢ tlic examination because l am a member of the ICAEW, which is one OF the listed bodies. I have compleied my examination. I confirrn that no matiers have come to my attention in connecrion with thc examination giving me cause (o believe.. accounting records were not k¢pt in respect of thc c.ompany as required by section 386 of the 2006 Act; or the accounts do not accoi'd with those r¢¢ords: or 3. the accounts du nut ¢omply with the accounting requirement4 of 8ection 396 of the 2006 Act other tl)an any r¢quirement thai the accounts gIe a 'mie and fair vicw which is not matrcr ¢onsidei¢d ds Pdrt of an independeni examination., or 4. the aLcount4 have not been prepared in ccordanLe with the Inethods and prinLiples of the Statement of Recniiiinended Practice lor accounting and reporting by cliaritic8 applicable to charilies prep¢iriiig thcir accouiits in acco].dlce i¥'iih tlic Fiiian¢ial R¢portin¥ Stthidard applicable in the UK Republic of Ireland (FRS 102). I have no con¢¢ms and have coiiie across no other matters in conn¢¢tion with thc cxaniination to which attenlion should be drawn in ihiq repart in order to cnable a proper understanding of the accounts lo be reached. Stephen G(rfTrdwin Goldivins Chartered accountants 75 laygrOVe Road West Hampstead London NW6 2EG 3010812024
Power Praise & Deliverance Ministrigs International Worship Centre Statement of financial activities lincorporaling an income and expenditure accounll For thè yèar ended 30 November 2023 2023 Total 2022 Total Unre5tiicled Restricted Note Income from: Donations and legacies Investment income 204,208 264 204.208 264 250,065 Total incom• 204 472 204 472 250 066 Expèndlturè on.. Charitable activities". Parish costs Mission and Evangelism 118,184 43,763 118,184 43,763 123,512 73.996 Total expenditure 161,947 161947 197,508 Net incomè I lexpenditurel for the year 42.526 42.526 52,558 Transfers bebNeen funds Net movement in funds 42,526 42,526 52,558 Reconclllatlon of funds- Total funds brought forward Total funds carried fOard 12 7.065,968 7 108494 7,065,968 7 108494 7.013,410 7.065,968 All of the above results are derived frorn continuing aclivilies. There were no other recognised gains or losses other than thos8 slated above. Movements in funds are disclosed in Notes to the financial slalemenls.
Power Praise & Deliverance Ministries International Worship Centre Balance sheet As at 30 November 2023 2023 2023 2022 2022 Note Fixed assets= Tangible assets 7.010,667 7,012,036 Current assets: Debtors Cash al bank and in hand 76,778 31,009 107,787 30.979 32,686 63,665 LiabilitiOS: Creditors. amounts falling due wthin one year 10 9,960 9,733 Net current assets I Iliabilitiosl Total assets less current liabilities 97,827 53.932 7,108,494 7,065,968 Totsl net assets I Iliabilitles} 7,108,494 7,065,968 Funds Unreslricled funds.. 12 Gèneral funds 7,108,494 7,U85.968 Total unrestricted funds 7,108,494 7.065.968 Total funds 7,108,494 7,065,968 The Charity's financial slalemenls have been prepared in accordan with the provisions applicable lo companies subject to the small companies regime. The Tiuslees consider that the Charity is enlilled lo exempb.on from the requirèment lo have an audit under the provision of section 477 of the Companies Act 20061.the Act l and member5 have not required the Charity to obtain an auclit lor the year In question in accordance with section 476 of the act. The Trustee acknowledge their responsibilities for ¢omplying wlh the requirement of the Companies Act 2006 th respect to accounting records and the prep8ralion ol financial statements. The financial slalements were approved and aulhorised for issue by the ITuslees on and signed on their behalf by.. . 2.91.Q.&12Q24......... Patricia Beckford Trustee Reverend Jennifer Brown Trustee Company reglstratlon no. 02992416 The attached notes form part of the fin8nual slalements.
Power Praise & Deliv8rance Ministries Internatlonal Worship Centre Statement of cash flows For the year ended 30 November 2023 Note 2023 2022 Cash flows from operating activitios.. Net cash provided by I (used inl operating activities 13 509 16,091 Cash flows from Investing aetivitièA: Sale/ Ipurcha5el of fixed assets {2.1861 110,9101 Change In ¢ash and Cash equivalents in the yoar 11,677) 5.181 Cash and cash equivalents at the beginning of the year 32.686 27,505 Cash and cash equivalents at the end of the year 14 31.009 32,686
Power Praise & Deliverance Mlnistrios Intemational W0h1P Centre Notes to the financial statements Foi the year ended 30 November 2023 1 Accounting policies al Basis of preparation The financial statements have been prepared in accordance with A¢¢ounling and Reporting by Charities.. Statement of Recommended practi applicable lo ¢harilies preparing their accounts in accordance wlh the Financial Reporting Stsndard applicable in the UK and Rèpublic of Ireland IFRS 102 - effecb.ve 1 January 20151- (Charities SORP FRS 1021 and the Companies Act 2tyA. The charitable company meets the defi'nition of a public benefit èntity ijnder FRS 12. Assets and liabilities are inilk211y recognised at historical cost or transaction value Un$$ otherwise slated in the relevant accounting policy or note. cl Golng concern The trustees consider that there aw no matenal uncertainties about the charitable company's ability lo continue as a going concern. The Iruslees do not consider that there are any sources ol eslimalion unGertainty al the reporting dale that have a significant risk of causing a material adjuslmenl lo the carrying amounts of assets and liabilities within the nèxt reporting period. dl Income Income is recognised when tre charity has èntitlement to the funds, any performance conditions attached lo the income have been mel, il is probable thal the in¢Dme will bè received and that Ihe amount can be measured reliably. Income from government and other gran15, whether 'capttal' grants or 'revenue' grants, is recognised when the charity has enlillemenl lo the funds, any p&rforman¢è Gondilions attached lo the grants hav8 been met, it is piobable Ihal the income thqll be recèived and the amount can be measured reliably and is not deferd. Income received in advance for the provision of specrfied setvice is deferred until th& criteria for income recognition are meL For legacies, enlillemenl is tsken as the earlier of the date on whh erther.. the charity is aware that probate has been granted. the estate has been finalised and nolifi¢alK)n has been made by the execulorlsl lo the charity th81 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 probablè when the amount can be measured re118bly and the charity has been notified of the exe¢ulor's intention to make a distribution. Where legacies have been notified to the Charity, or the charity Is aware ol the granting of probate, and the Criteria for Income recognition have not been mel, then the legacy is a treated as a conlingenl asset and disclosed if material. el Donations of gifts, servlees and fa¢illties Donated professional services and donated facilities are recognisecl as income when the charity has control over the item or received the service, any conditions associated with the donation hav8 been mel, the receipt of economic benefit from the use by the Charity of the item is probable and that economic benefit can be measured rèliably. In accordance with the Charities SORP IFRS 1021. volunteèr lime is not recognised so refer lo the trustees, annual report for more information about their conlribulion. On rèceipt, donated gift5, professional services and donated facilities are recognised on the basis of the value of the gift lo the charify which is the amount the charity would have been willing lo pay lo obtain serVIS or facilities of equivalent economic benefi't on the open market,. a corresponding amount15 then recognised In expenditure in the period of receipt.
Notes to the financlal statèments For the yoar ended 30 November 2023 1 Accounting policies Icontinuedl Intergst recolvable Interest on funds held on deposit is included when receivable and the amount can be measurecl reliably by the charity,. this is nOmial upon nolifi¢alion of thè Interest paid or payable by the bank. gl Fund accounting Unrestricted fund3 are available to spend on activities that further any of the purposes ol charity. Designated funds are unrestricted funds of the charity which thè trustees have decided at their discielion lo sel aside lo use foi a specific purpose. Reslricled 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 being undertaken by the charity. h) ExpendÉture and irrecoverable VAT Expenditure is recognised once there is a legal or conslruclive obligation to rnake a payment lo a third party, it is probable that settlement wlll be required 2nd the amount of the obligation can be measured reliably. Expenditure is classified under the followng activity headings.. Costs of raising funds comprise of trading costs and the costs incurred by the charitable company in inducing third partEs to make voluntary contributions to it. as well as the cost of any actNities with a fundraising purpose. Expenditure on charitable activities Includes the costs of delivering services an(J other 8clivilies undertaken lo further the purposes of the charity and their associated 5UPPOrt costs. Other expendituie represents Ihryse items not falling into any other heading. Irrecoverable VAT is charged as 8 cost against the actNily for which the expendrture was incurred, il Allocation of support eo$ts Support costs are those functions that assist the work of the charity bul do not direelly undertake chaiitable activities. Support costs include back office costs, finance. personnel. payroll and governance costs which support the activrties. 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 set out in note 3. 11 Tanglble fixgd assets Depreci81ion Is provided at rates calculated to write down the ¢osl of each asset lo f(5 eslimaled residual value over rts expected useful life. The depwialion rates in use are as follows.. Land and buildings freehold Nil Plant and machinery slraighl Fixtures. Fittings an 25, kl Debtors Trade and other debtors are recognised at the settlement amount due after any trade diswunl offered. Prepayments are valued al the amount prepaid nel of any Itade discounts due. 11 Cash at bank and in hand Cash at 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 acquisrtion or opening of the deposit or similar account. ml Creditors and provisions Creditors and provisions are recognised where the charity has a present obligation res1ng from a past evant that will probably result in the transfer of funds to a third paty and the amount due to settlè the obligation can be measured or estsmaled reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. io
Power Praise & Deliverance Ministries International Worship Centre Notes to the financial statements For the year ended 30 November 2023 2 Income tmm donations and lega¢les 2023 2022 Unr•strieted Restricted Total Total Donations Gift aid Others 157,509 46,699 157,509 46,699 187,246 51,631 204,208 204,208 250,065 3 Analysis of exponditure Mission and Parish costs Evangelism Support costs 2023 Total 2022 Total staff costs Mission and evangelism Ministry costs Depreciation Parsonage expenses Light and heal Telephone & intemel Printing, pc>stage and stationary Repair and maintenance Taxi & motor expenses Travelling and subsistence Sundry expenses Bank charges and interest otFice expenses Sponsorship Legal and profession21 fees Independent examiner's fèes 31,269 31.289 16,219 26.215 3,$56 45,817 6.812 928 595 15,256 4,793 116 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 16,219 26,215 3.556 45,817 6.812 928 595 15,256 4.793 116 730 730 2,203 3,251 387 3,800 2,203 3,251 387 3,800 114.596 3.588 42.434 1.329 161,947 197.508 Support costs 14,9171 Total expenditure 2023 118,184 43,763 161,947 Total expenditure 2022 123,512 73,996 197,508 The total expenditur8 2023.. £161,947 was unreslricted12022". £197.5081. li
Power Praise & Deliverance Ministries International Worship Centre Notes to the financial statements For the year ended 30 November 2023 4 Ngt incomellexpenditurel for thg ygar This Is slated after charging I crediting. 2023 2022 Independent Examiner's Fees Depreciation 3.167 3,SS5 3,050 4,012 S Analysis of staff costs, trusteè romungration and expenses. and the cost of key management personnel staff costs were as follows.. 2023 2022 Salaries and wages Employer's contribution lo defined contribution pension schemes 30,283 986 25,159 923 31,269 26,082 Number of employees None of the employees received employee benefits excluding pension contributions more than £60.000. The total employee benefits including pension contributions and amployer Nl of the key managemènt personnel were £Nil. One of the Irustees recewed the employee remuneration and parsonage expenses from the charity during the year. Rolatgd party transactions There are no related paty transactions to disclose for 202312022.. nonel. 7 Taxation The charity is exempt from corF)oration tax as all ils income is charitable and is applied for charitable purposes. 12
Power Praise & Dellverance Ministries International Worship Centre Notes to the financial statements For the year ended 30 November 2023 Tangible fixed assets Land and buildings freehold Fixtures, fillings & equipment Plant and machinery Total Cost Al the start of the year Additions in year Disposals in year 7,000.000 24,593 41.820 2.186 7,066,413 2.186 At the end of the year D8prociatlon Al the start of the year Charge for the year Eliminated on disposal 7,000,000 24.593 44,006 7,068,599 24,593 29.784 3.555 $4,377 3,555 At the enrj of the year 24,593 33,339 57.932 Net book value At the ènd of the year 7,000,000 10,667 7,010.667 Al the start of the year 7,000,000 12,036 7,012,036 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 Debtors 2023 2022 Gift aid receivable Prepayments 76,778 30,079 900 30,979 10 Crgdilors.. amounts falling due within one year 2023 2022 Accruals Member's loan Other creditors 7.226 7,163 2,734 2,570 9,960 9,733 13
Power Praise & Deliverance Minislries Intemational Worship Centre Notes to the financial statements For the year ended 30 November 2023 11 Analysis of nel assets between funds General unrestricted Restricted Total funds Tangible fixed assets Nel current assets 7,010.667 97.827 7,010,667 97.827 Net assets at the end of the year 7.108,494 7,108,494 12 Movements in fvnd8 Incoming Al the start of reSoUrS & the year gains Outgoing resources & losses At thg gnd of the year Transfers General funds Total Unreslricled Funds 7,065.968 7,065.968 204.472 204,472 1161,9471 1161,9471 7,108,494 7,108,494 Total unrestricted funds Total funds 7.065,968 204,472 1161.9471 7.108,494 14
Power PraSse & Deliverance Ministries International Worship Centre Notes to the flnancial ststements For the year ended 30 November 2023 13 R8con¢iliation of net In¢ome l {oxpendilurgl to net cash flow from operating activities 2023 2022 Net income I lexpenditurel for the reporting period {as per the gtatement of financial attivitiosl Depreciation Ilncreasell decrease in debtors Increasel Idecreasel in creditors Net cash provided by I (used Inl operating actlvltles 42.526 52,558 3,555 45.7991 227 509 4.012 130.9791 19,5001 16.091 14 Anatysis of cash and cash equivalents At1 December At30 November Other changes 2022 Cash flows 2023 Cash al bank and in hand 27,505 3,504 31,009 Total cash and cash equivalents 27,505 3,504 31,009 15 Operatlng lease commitments Al the balance sheet dale, the charity had no financial commmilment under non-cancellable operating lease5. 16 Legal status of thè charity The charity is a company limited by guarantee and has no share capital. The liability ol each member in thè Èvenl of wnding up is limited lo £1. 15
Power Praise & Oeliveran¢e Ministries Intemational Worshlp Contre Notes to the financial statèments Fortha yèar ended 30 NoVeMr 2023 17 a. Analy81$ of net assots ben funds- 2022 Iprior yearl General uftre5tricted Re8trlcted Total fund8 Tangible fixed assets Net current 8S8et8 7.012.036 53.932 7.012,036 53.932 Net assets at the end C+f tho year 7,065,968 7,065,968 b. Movements In funds.2021 Iprfjor yearl Incoming resources & 981ns Outgoing resources & losse5 At the start of the year At Ihe ettd of the year Transf& G•noral fund8 Total Unrestricted Funds 7,013,410 250.(N56 1197,5081 7,068,968 Ttstsl UtrICd fund8 7.013.410 250,066 1197,5081 7,065,968 Totsl fund$ 7,013,410 250,066 1197.SO81 7,065,968 16