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2021-03-31-accounts

CHARITY REGISTRATION NUMBER: 1048696

Company Limited by Guarantee Unaudited Financial Statements 31 March 2021

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BAPTISTE & CO Chartered Certified Accountants Tower 42, 25 Old Broad Street London EC2N 1HN

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TABERNACLE OF PRAISE MINISTRIES

Company Limited by Guarantee

Financial Statements

Year ended 31 March 2021

Page
Trustee'sannual report (incorporating the director's report) 1 mo,
Independent examiner's report fo the trustee 4
ono Statementoffinancial activities (including incomeand ne cvs onanc
expenditure account) 5 -
Statement of financial position 6
Statement of cash flows 7
Notes to the financial statements 8
The following pages do notform part ofthe financial statements
Detailed statement of financial activities 16
Notestothedetailedstatementoffinancialactivities 17

TABERNACLE OF PRAISE MINISTRIES

Company Limited by Guarantee Trustee's Annual Report (Incorporating the Director's Report) Year ended 31 March 2021 a

Tabernacle of Praise Minlstries — Trustees’ Report for 2020/2021

Activities and operation

Tabernacle of Pralse Ministries is a Christian Organisation registered with the Charity Commission no. 1048696, in England and Wales.

Its current address Is Praise House, 37 Tamworth Road, Croydon, Surrey. CRO 1XT.

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o Sandra Luke — Chairperson

o Margaret Halls-Falconer - Secretary

o Nathaniel Asafo-Agyei - Treasurer

Tabernacle of Praise Ministries is founded on Christian values and mission and it carries out humanitarian work and provides caring services In our community, It has as its aim, the advancement of the Christian faith and the improvement of life and wellbeing in the community where it is based.

The Charity depends on freewill donations from members for funding and we have acted responsibly by keeping overheads and administrative costs to a minimum In order to achleve the goals we set out.

Going Concerns

The annual accounts of Tabernacle of Praise Ministries for 2020/21 are prepared with an ongoing concem basis, and the Trustees confirm that this assumption is valid.

Development, financial results and position

In tha opinion of the trustees, the financial statements with accompanying notes give a true and fair view of the financial performance for 2020/21 and the financial positlon as at 31st of March 2021. No events have occurred after the close of the financial year that has any major significance for - assessment of the ministry. The ministry's normat depreciation is essentially the difference belween the entity's cash flow and the accounting profit.

Taxation

§ Tabernacle of Praise Ministries Is established as a charitable ministry and is tax exempt as the organisation does not recelve income that doesn’t qualify for tax relief or spent any income on noncharitable purposes.

§ Tabernacle of Praise Ministries is also approved to claim Gift ald (25p on every £1 donated by tax paying members).

Work Environment

The current work environment is good and those who are employed or volunteer are satisfied with their working environment. There have been no accidents or injuries in 2020/21 and volunteers / employes sick leave are recorded.

Equity a

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TABERNACLE OF PRAISE MINISTRIES

Company Limited by Guarantee

Trustee’s Annual Report (incorporating the Director's Report)

Year ended 31 March 2021

Tabernacle of Praise Ministries aims to have a workplace with diversity and equality of opportunity for both men and women. The ministry had 4 employees and 12 volunteers (7 women and 5 men), most of who work within the areas of mission, humanitarian concerns, hospitality, sound engineering and ushering. The Trustees consist of two women and one man. an

The Environment

The ministry does not conduct activities that have a “substantial adverse inipact on the anvironment, The ministry has not implemented or planned any special measures in this area in 2020/21, beyond . such measures as are necessary under laws and regulations to ensure compliance with applicable environmental requirements.

Disclosure of Financial Risk ;

in the Trustee’s opinion, there ts no significant market risk or risk of losses for the ministry In the immediate future. The ministry has activities In other countries and part of its expenses is linked to foreign currency. The ministry's financial income and expenses must be considered in light of this.

Summary of the main activities

The year under review was marked with COVID-19 pandemic and the attendant lockdowns which the government imposed on the natlon with

restrictions for places of worship. As a result, we had to find alternative ways of reaching out to our members and the community we serve in Croydon. We carried out a number of activities, which Included supporting Elderly Projects by providing and preparing Food for the most vulnerable during the lockdown, working with foodbanks to ensure that food reached the most vulnerable during the lockdown, running zoom and telephone contacts with our members especially those who are single to ensure they were ok during the lockdown.

We worked with Parents to provide support to parents and Children who were made to stay at home to sludy, we worked across the borough to provide awareness of the dangers that coronavirus posed to people and helped to create awareness of the need for vaccinations.

Networking activities with other Ministries and Community Groups more than doubled over the previous year due to the lockdown restrictions, Prior to COVID-19, many leaders did not understand how to use social media to hold services and Increasingly, many needed training and support to help them broadcast their services and we were on hand to provide some of what was needed. Sadly, within our community in Croydon, many deaths occurred and bereaved families needed counselling, comforting and help in planning the funeral of their loved ones who died as a result of the virus. We had less {n- person contact events In the community but when the opportunity presented itself, we held socially distanced Community-based Projects during the year which included rallies and prayers in front of our town hall in support of Black lives matter, community interactive sessions to sensitise people about the need for vaccinations against Covid-19, Joint Interfaith Engagement Meetings and workshops to offer advisory support to parents/children.

We started a daily support group for church members and leaders and these proved very effective and they are still actlvely running on Zoom. We have continued to hofd a regular weekly meeting for Church Leaders in Croydon, where we continue to develop and build bridges amongst Hard-to-Reach Communities, highlighting issues around Equality, Diversity, Racism, and Effective Collaboration.

In our previous year's report, we reported that we signed a new tease in January 2019 for 37,

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TABERNACLE OF PRAISE MINISTRIES

Company Limited by Guarantee

Trustee's Annual Report (Incorporating the Director’s Report)

Year ended 31 March 2021 a———— — —L Tamworth Road, Croydon CRO 1XT and that refurbishment works started immediately in trying to bring the building into use.

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Unfortunately, with the lackdown and reduced revenue, the refurbishment

works stalled, Fortunately, we recelved some financial support through the various grants that were processed through our local authority and the bounce back loan which the government awarded us through our bank, These support packages helped a great deal in keeping our heads above water but

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Main Achievements during the Year

We discovered that Zoom gave us a wider range and opportunity to reach out to people from outside of the United Kingdom: This has given rise to more creative ways of using social media to broadcast our services,

We have now embarked on refurbishing our main hall which on completion will serve the community in Croydon in various ways. As a result of the larger space secured through the new Building, we are able to develop more and new partnerships with other faith and non-faith organisations. We have been meeting with interest groups within our community and have collaborated with them on various initiatives.

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Our New Year's Eve Service has always encouraged Joint participation with at least 4/5 churches within Croydon, and usually attracts at least 600 people.

Unfortunately, last December, we could not hold the service in person.

Plans for the future

As the work of renovation and restoration of the bullding continues, we will have an opportunity to further increase the participation of diverse community groups, churches, the local authority and individuals from the local community. It 1s our aim to widen participation as much as possible, so our building will be known as a safe, secure and welcoming place, to all those who use It throughout Croydon and beyond.

Planned activities will include Easter and Christmas Musicals, Concerts with other churches participating, Community Programs to address the Issues of those young people who are Not in Educatlon, Employment or Training (NEET), Youth Violence, Health Issues for both Adults and children, especially with the high rates of obesity in Croydon, Domestic Violence, Joint Community Collaboration with a ‘Soup Kitchen’ and an Outreach to Refugee Mothers, who are Newly Arrived in the United Kingdom. We also are working in collaboration

with other churches to find the best ways to support families fleeing from the devastation in Ukraine.

Signed:

Mrs Sandra Luke — Chairperson

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TABERNACLE OF PRAISE MINISTRIES

Company Limited by Guarantee

Independent Examiner's Report to the Trustee of TABERNACLE OF PRAISE MINISTRIES

Year ended 34 March 2021

| report to the trustee on my examination of the financial statements of TABERNACLE OF PRAISE MINISTRIES (‘the charity’) for the year ended 34 March 2021.

Responslbilities and basis of report

As the trustee of the company {and also its director for the purposes of company law) you are responsible for the preparation of the financial statements In accordance with the requirements of the So nnnniaann, COMparilesAct 2006 (tha 2006 Act)sn nanntnannneninenseaan | Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for Independent examination, | report in respect of my examination of the charity's accounts as carried oul under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination | have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

i have completed my examination. | confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or

  2. the financial statements do not accord with those records; or

  3. the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair! view which is not a matter considered as part of an independent examination; or

  4. the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable In the UK and Republic of Ireland (FRS 102).

| have no concerns and have come across no other matters in connection with the examination to which attention should be drawn In this report in order to enable a proper understanding of the accounts to be reached.

Independent Examiner

Tower 42, 25 Old Broad Street London EC2N 1HN

26 March 2022

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TABERNACLE OF PRAISE MINISTRIES

Company Limited by Guarantee

Statement of Financial Activities

(including income and expenditure account)

a Year ended 31 March 2021

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2021 2021 2020
Unrestricted
funds Totalfunds Totalfunds ~
Note £ £ £
tncome and endowments
Donations and legacies 5 140,352 140,352 105,436
Expenditure on charitable activities 6,7 108,732 108,732 404,972
Total expenditure 108,732 108,732 104,972
Net Income and net movement in funds 31,620 31,620 464
Reconciliatlon offunds
Total funds broughtforward 1,108 1,108 644
Totalfundscarriadforward 32,728 32,728 1,108

The statement of financial activities includes all galns and losses recognised in the year. Allincome and expenditure derive from continulng activities,

The notes on pages 8 to 14 form part of these flnanclal statements. ee

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TABERNACLE OF PRAISE MINISTRIES

Company Limited by Guarantee

Statement of Financial Position

31 March 2021

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||||||||||| |---|---|---|---|---|---|---|---|---|---| |2021|2020|:| |Note|£|£|£| |Current|assets| |Debtors|11|114,127|84,837| |Cash|at|bank|and|in|hand|:|13,694|-|-| |127,821|84,837| |copupineeninneeennne|FOOtOrs:|amounts. falllngdue—™*” within|one year...|AB.|75,093|noon 83| |—"""“"""“Netcurrentassets|52,728|4,10829| |Total|assets|less|current|lfabilities|52,728|1,108| |Creditors:|amounts|falling|due|after|more|than| |one|year|14|20,000|-| |Net|assets|32,728|4,108| |Funds|of the|charity| |Unrestricted|funds|32,728|1,108| |Total|charity funds|15|32,728|1,108|

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For the year ending 31 March 2021 the charity was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.

Director's responsibilities:

These financlai statements were approved by the board of trustees and authorised for Issue on 26 March 2022, and are signed on behalf of the board by:

The notes on pages 8 to 14 form part of thase financlal statements.

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TABERNACLE OF PRAISE MINISTRIES

Company Limited by Guarantee

Statement of Cash Flows

Year ended 31 March 2021

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|||||||||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |2021|2020| |Note|£|£| |Cash|flows|from|operating|activities| |Net|income|31,620|464| |Adjustments|for:| |Interast|payable|and|similar charges|91|467| |meee|QIAOS|BINHanae|nn|nec|npn|icecream|ee|cena engage|eepee|ee|ee|enngnee|ming|anna|nnn|inane|iuinenennene|iene| |oT|ra|er|[a:]|[OURGE]|[DADE]|TTT|erm|mans|izcnsnnessnscn|asec:|(DOEQO BY|soon|(4 253.1Q)|worn|rnronraserrsnnier|rain| |Trade and|other creditors|{5,853)|10,491| |Cash|generated|from operations|(3,432)|(888)| |Interest|paid|(91)|(467)| |Net cash|used|in|operating|activities|(3,523)|(1,355)| |Cash|flows|from|financing|activitles| |Proceeds|from|borrowings|20,000|-| |Net|cash|from|financing|activities|20,000|-| |Nat|increase/(decrease)|In|cash|and|cash|equlvalants|16,477|(1,355)| |Cash|and|cash|equivalents|at beginning|of year|(2,783)|(1,826)| |Cash|and|cash|equivalents|at end|of year|12|13,694|(3,181)|

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aSEOThe notes on p a ges8 to 14 form part of these financial statements.

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TABERNACLE OF PRAISE MINISTRIES

Company Limited by Guarantee

Notes to the Financial Statements

,

Year ended 31 March 2021

i. General Informatlon

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The charily Is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office Is .

  1. Statement of compliance (engine7 F NESS-financial statements -have-been.prepared-in.compliance-with -FRS-102,—The-Financial —-------~ eee Reporting” Standard “applicable” in” the” UK aid” thé” Republic of Ireland’; the Statement 6f Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Companies Act 2006.

  2. Accountlng policies

Basls of preparation

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The financlal statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment propertles measured at falr value through income or expenditure.

The financial statements are prepared in sterling, which is the functionat currency of the entity.

Going concern

There are no material uncertainties about the charity's ability to continue.

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.

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Designated funds are unrestricted funds earmarked by the trustee for particular future project or commitment.

Restricted funds are subjected to restrictions on thelr expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted Income funds or . endowment funds.

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TABERNACLE OF PRAISE MINISTRIES Company Limited by Guarantee Notes to the Financial Statements (continuea)

Year ended 31 March 2021

  1. Accounting pollcles (continued)

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Incoming resources

Resources expended

Expenditure is recognised on an accruals basis as a liability is incurred, Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activitles to which it relates:

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

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TABERNACLE OF PRAISE MINISTRIES

Company Limited by Guarantee

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Notes to the Financial Statements (continued)

Year ended 31 March 2021

  1. Accounting policies (continued)

Tanglble assets (continued)

An Increase In the carrying amount of an asset as a result of a revaluation, is recognised in other . recagnised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financlal activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised In other recognised gains and losses, oHrveorenerecnercmns ——OUeree@XCOPL-tO-Which it offsets any-previous-revaluation-gain, in-which-case-the-loss-is-shown within ey recognisedgains and lossés on the statementof financial activities: eee

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrylng value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it Is not possible to estimate the .recoverable amount of an individual asset, an estimate Is made of the recoverable amount of the cashgenerating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely Independent of the cash inflows from other assets or groups of assets.

For impairment testing of goodwill, the goodwill acquired In a business combination Is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilitles of the charity are assigned to those units.

Financial Instruments

A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual! provisions of the Instrument.

Bastc financial instruments are initially recognised at the amount receivable or payable Including any related transaction costs.

Current assets and current llabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.

Debt instruments ara subsequently measured at amortlsed cost.

Where investments In shares are publicly traded or thelr fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.

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TABERNACLE OF PRAISE MINISTRIES

Company Limited by Guarantee Notes to the Financial Statements (continued)

Year ended 31 March 2021

3. Accounting policies (continued

Financlal instruments (continued)

Other financial Instruments, including derivatives, are Initially recognised at fair value, unless payment for an asset is deferred beyond norma! business terms or financed at a rate of interest that is not a market rate, In which case the asset Is measured at the present value of the fulure payments discounted at a market rate of interest for a similar dabt instrument.

Sosarniinaimnnmnnnmennnether” financial instruments” are “subsequently “measured ~-at~ fair -value;~ with~any--changes-—--—en recognised in the statement of financial activities, with ihe exception of hedging Instruments in a designated hedging relationship. ; Financial assets that are measured at cost or amortised amortised cost are reviewed for objective evidence

Financial assets that are measured at cost or amortised amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there Is objective evidence of impairment, an impairment loss Is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed Individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrylng amount would have been had the impairment not previously been recognised.

5. Donations and legacles
Unrestricted Total Funds Unrestricted Total Funds
Funds 2021 Funds 2020
£ £ £ £
Donatlons
Donations, tithesandofferings 140,352 140,352 105,436 105,436
  1. Expenditure on charitable actlvitles by fund type
Unrestricted Unrestricted
& Total & Total
Funds 2021 Funds 2020
£ £
Outreach expenses 12,060 16,530
Wages and salaries 84,800 81,089
Insurance 692 427
Motor vehicle expenses 89 1,947
Other travel costs - 1,888
Legal and professional fees 3,116 617
Other charitable costs 7,884 2,313
Interest payable and similar charges 91 467
108,732 104,972

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TABERNACLE OF PRAISE MINISTRIES

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2021

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7. Expenditure on charitable activitles by activity type

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|||||||| |---|---|---|---|---|---|---| |Activities|:|:| |undertaken|Support|Total funds|Total|fund| |;|directly|costs|2021|2020| |£|£|£|£| |Operation|of the|Church|104,833|~|104,833|103,767| |Governance|costs|-|3,899|3,899|4,205|

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- §8. Staff costs

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||||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---| |The|total|staff|costs|and employes|benefits|for|the|reporting|period|are|analysed|as|follows:| |2021|2020| |£|£| |Wages|and|salaries|84,800|81,089|

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The average head count of employees during the year was 5 (2020: 5).

No employee recelved employee benefits of more than £60,000 during the year (2020: Nil).

  1. Trustees remuneration and expenses

;

There was no Trustee remuneration,

10. Tanglble fixed assets

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||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---| |Fixtures|and|Motor| |fittings|vehicles|Equipment|Total| |£|£|£|£| |Cost| |At|1|April|2020|and|31|March|2021|1,838|2,350|22,389|26,577| |Depreciation| |At|1|April|2020|and|31|March|2021|1,838|2,350|22,389|26,577| |Carrylng|amount| |At|31|March|2021|~|-|-|-| |At|31|March|2020|-|-|-|-| |11.|Debtors| |2021|2020| |£|£| |Other debtors|114,127|84,837|

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TABERNACLE OF PRAISE MINISTRIES

Company Limited by Guarantee

Notes to the Financial Statements (continuea)

Year ended 31 March 2021

on

12. Cash and cash equivalents

Cash and cash equlvalents comprise the following:

., 2021 2020
£ £
Cash at bank and In hand 13,694 -
Bankoverdrafts
.		 - (2,783)
Creditors: amounts falling due within one year :
. 2021 2020
£ £
Bank loans and overdrafts - - 2,783
Accruals and deferred income 400 400
Other creditors 74,693 80,546
75,093 83,729
Greditors: amounts falling due aftermore than one year
2021 2020
£ £
Banktoansandoverdrafts 20,000 -
  1. Creditors: amounts falling due within one year

14. Greditors: amounts falling due after more than one year

15. Analysis of charitable funds

Unrestricted funds

At At
01/04/2020 Income Expenditure 34/03/2024
£ £ £ £
General funds 1,108 140,352 (108,732) 32,728
At At
01/04/2019 Income Expenditure 31/03/2020
£ £ £ £
General funds 644 405,436 (104,972) 1,108

ee

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TABERNACLE OF PRAISE MINISTRIES Company Llmlled by Guarantee Not8S to the Flnancial Statements Icontlnv•dl Year ended 31 March 2021 14

TABERNACLE OF PRAISE MINISTRIES

Company Limited by Guarantee Management Information Year ended 31 March 2021

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Tie following pages do not form part of the financlal statements.

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TABERNACLE OF PRAISE MINISTRIES

Company Limited by Guarantee

Company Limited by Guarantee Company Limited by Guarantee
Detailed Statement of Financial Activities ,
Yearended 31 March 2021
eee
' 2021 2020
Income and endowments £ £
Donations and legacles
Donations, tithes and offerings © 140,352 105,436
Total Income 140,352 105,436
Expenditure
Expenditure on charitable activities
Outreach expenses
Wages and salaries
Insurance		 12,060
84,800
692		 16,530
81,089
127
Motorvehicleexpenses
‘
Other travel casts
Legal and professional fees
Othercharitable costs
Interestpayableand similarcharges		 89
-
3,116
7,884
91		 1,947
1,888
611
2,313
467
108,732 104,972
Total expenditure 108,732 104,972
Netincome 31,620 464

meee

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TABERNACLE OF PRAISE MINISTRIES

Company Limited by Guarantee

Notes to the Detailed Statement of Financial Activities

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||||||||| |---|---|---|---|---|---|---|---| |Year|ended|31|March|2021| |I| |2021|2020| |£|£| |Expenditure on|charitable|activities| |Operations|of the|Church| |Activities|undortaken|directly| |Outreach|expenses|12,060|16,530| |Wages and|salaries|84,800|81,089| |MOtOLV@HIClO|EXPANSES|ooo|op|epenponrneeeperepngnpe|nro|9|1,947| |Othep HAVE!COS|ES|ee ne|enter|niente|A888| |Other|charitable|costs|7,884|2,313| |104,833|103,767| |Governance|costs| |Insurance|692|427| |Governance|costs|-|legal|and other professional|fees|3,116|611| |Bank charges and|Interest payable|91|467| |3,899|1,205| |Expenditure on|charitable|actlvitles|108,732|104,972|

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