Assemblies of God Pentecostal Church
Financial Statements for the
year ended 31 December 2021
Assemblies of God Pentecostal Church
| INDEX | |
|---|---|
| for the year to | 31 December 2021 |
| Page 1 | Church information |
| Page 2-5 | Trustees Report |
| Page 6 | Independent Examiner's Report |
| Page 7 | Statement of Financial Activities |
| Page 8 | Balance Sheet |
| Pages 9-13 | Notes to accounts |
Assemblies of God Pentecostal Church
CHARITY INFORMATION
Trustees
Mrs Janet Elaine Palmer-Taylor ( Senior Pastor/Chair of Trustees) Mr Audley Black Mr Opeyemi Aketepe Mrs Priscillah Chiweshe Mr Daniel Iliffe
Charity Number
1050446
Charity Correspondence Address
AOG Pentecostal Church Elm Rd Redditch B97 6HJ
Independent Examiner
DKR Chartered Accountants 36 Lichfield Street Waslall West Midlands WS1 1TJ
Bankers
Barclays Business Centre Redditch Branch Threadneedle House Alcester St Redditch Worcs B98 8AJ
Solicitors
Robinsons Solicitors 3 Mardy Street Heanor Derbyshire DE7 7EB
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Assemblies of God Pentecostal Church Trustees’ Report for the year ended 31 December 2021
The trustees present their report and accounts for the year ended 31 December 2021
Trustees
The trustees serving Church Council are Elaine Palmer-Taylor (Chair) Audley Black, Dan Iliffe, Opeyemi Aketepe, Cilla Chiweshé. Appointment of trustees is governed by the Trust Deed of the charity. The Church Council is authorised to appoint new trustees to fill vacancies arising through resignation or death of an existing trustee.
Investment Powers
The Trust Deed authorises the trustees to make and hold investments using the general funds of the charity, but no such investments are presently held.
Constitution, Objects and Policies
The Charitable Trust is constituted by Trust Deed for the advancement of the Christian faith. We have successfully achieved this, in terms of presenting the gospel of Jesus Christ, clearly expressed in the provision we offer, to the community. This approach has enabled us to share effectively a spiritual and practical expression of the Christian faith in the community where we live. When planning our activities for the year the trustees and leadership team have considered the Charity Commission’s guidance on public benefit and in particular the specific guidance to charities for the advancement of religion.
The policy of the Church continues to be to seek, grow and develop and continue to run the projects in order to contribute in the local community to the Vision of the fellowship of Assemblies of God which is:
‘The purpose of Assemblies of God is to give to every man. Woman and child the opportunity of understanding the gospel and to provide a church where they can grow and develop in ministry for the glory of God.’
Development, activities and achievements
The trustees consider that the church would not be able to exist without the continued support of a number of willing members who give their time and services voluntarily. By careful management and improved giving by the membership the general financial position has been sustained. The trustees consider that the church holds sufficient reserves to cover the ongoing operations of the charity.
In addition to the Church Council/Trustees, the church has a leadership team of four ministers consisting of a Pastor/Senior Leader and three Elders. There are also worship, youth and children’s leaders.
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The children and youth services for ages up to 16 years operate during the Sunday morning church services. However, during 2021 this was scaled back due to the COVID-19 Pandemic and imposed government lockdown restrictions. In general, Church services operated on reduced hours and were a hybrid on online and in-person.
The church supports three missionaries overseas the Philippines and on the Logos Hope Ship – Operation Mobilisation in various countries. These missionaries are members of the church.
The Thursday community lunch club (which was suspended in March 2020 due to Covid19) was rebranded and opened up as a craft club. The aim of the club is to bring people together in the community especially those that are lonely. People took part in various activities such as knitting, jigsaws, cooking etc.
Church Building
The property is well maintained with continuous improvements being made both in and on the building and grounds.
Financial review
This year’s income predominately consists of tithes, offerings and gift aid amounted to £37,364 (£30,811 in 2020). Expenditure for direct church running costs was £36,344 (cp £34,724 in 2020), with related church activities coming to £2500 (cp £35851 for 2019).
This gave a deficit for the year of £1,480, but the expenditure for this year included unplanned maintenance and boiler replacement using the reserves built up over previous years. Without these the church would have had a healthy surplus.
The church was expecting a reduction in its income during 2021 due to the COVID-19 pandemic but this was not realized. There are no major capital expenditure planned for 2022 and there are no going concern issues.
The total net worth of the church is £147,825 (cp £149,305 in 2020). This includes the church building at a historic value of £ £128,816, but in February 2019 the building was valued for insurance purposes at £950,000.
Future developments
Despite the setback caused by the COVID-19 pandemic, it is still hoped that the church can continue to grow and develop with new self-financing projects so that the impact of the church on the spiritual and practical needs of the people of Redditch will be further enhanced.
Statement of Trustees’ Responsibilities
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The trustees are required under the constitution of the charity to prepare financial statements each financial year which give a true and fair view of the state of affairs of the charity and of its results for that period. In preparing those financial statements the trustees are required to:
(a) Select suitable accounting policies and apply them consistently. (b) Make judgements and estimates that are reasonable and prudent.
(c) Prepare the financial statements on an ongoing concern basis unless it is inappropriate to assume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approval
This report was approved by the trustees on 21 August 2022 and signed on their behalf by
Elaine Palmer-Taylor
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Independent Examiner’s Report to the Trustees Assemblies of God Pentecostal Church
for the year to 31 December 2021
This report on the financial statements of the charity for year ended 31 December 2021 set out on the following pages is in respect of an examination carried out in accordance with section 145 of the Charities Act 2011 (‘the Act’).
Respective responsibilities of charity and the examiner
The church is responsible for the preparation of the accounts; and considers that the audit requirement of section 144 (2) of the Charities Act 2011 (the Act) does not apply. It is my responsibility to state, on the basis of procedures specified in the General Directions given by the Charity Commissioners under section 145 (5) (b) of the Act, whether particular matters have come to my attention.
Basis of independent examiner’s report
My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the church and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts.
Independent examiner’s statement
I have completed my examination, I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
(1) accounting records were not kept in respect of the charity as required by section 130 of the Act or
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(2) the accounts do not accord with those records , or
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(3) the accounts do not comply with the applicable requirements concerning the form and content
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of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
I 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.
DKR Chartered Accountants
36 Lichfield Street Walsall West Midlands WS1 1TJ 2021
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Assemblies of God Pentecostal Church
Statement Of Financial Activities for the year to 31 December 2021
| Note Incoming Resources Voluntary income General Offerings and Donations Gift Aid Tax Refunds Charitable activities Event Income Investment income Bank Interest Other trading activities Other Income Total income Resources Expended Charitable Activities Direct Church Running Activities 2(a) Related Church Activities 2(b) Total expenditure Net Income (expenditure) Reconciliation of Funds Total funds brought forward Total funds carried forward |
Unrestricted Funds 2021 £ 31,209 6,155 - 13.00 - 37,377 36,344 2,500 38,844 (1,467) 149,305 147,838 |
Total Funds 2021 £ 31,209 6,155 - 13.00 - 37,377 36,344 2,500 38,844 |
Total Funds 2020 £ 25,303 5,508 - - - |
|---|---|---|---|
| 30,811 | |||
| 34,724 3,585 |
|||
| 38,309 | |||
| (1,467) | (7,498) | ||
| 149,305 147,838 |
156,803 | ||
| 149,305 |
There were no recognised gains or losses for 2021 or 2020 other than those included in the Statement of Financial Activities
** For full comparison see note 10
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Assemblies of God Pentecostal Church
Balance Sheet as at 31 December 2021
| Note Fixed Assets Tangible Assets for use by the church 5 Current Assets Debtors 6 Bank & Cash 7 Total current assets Creditors :amounts falling due 8 within one year Net Current assets Total assets less current liabilities Net Assets The funds of the charity Unrestricted Funds 9 Designated fixed assets Funds 9 Restricted Funds 9 Total charity funds |
2021 £ £ 134,372 878 14,130 15,008 (1,542) 13,466 147,838 147,838 22,500 125,338 - 147,838 |
2020 £ £ 135,285 466 14,466 14,932 (912) 14,020 149,305 149,305 23,054 126,251 - 149,305 |
2020 £ £ 135,285 466 14,466 14,932 (912) 14,020 149,305 149,305 23,054 126,251 - 149,305 |
2020 £ £ 135,285 466 14,466 14,932 (912) 14,020 149,305 149,305 23,054 126,251 - 149,305 |
|---|---|---|---|---|
| 149,305 | ||||
| 149,305 | ||||
| 23,054 126,251 - |
||||
| 149,305 |
Approved by the trustees on 21 September 2022 and signed on their behalf
Trustee………………………
Name: Janet Palmer -Taylor
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Assemblies of God Pentecostal Church
Notes to the accounts
for the year to 31 December 2021
1.Accounting policies
Basis of preparation
The charity constitutes a public benefit entity as defined by FRS102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) published on 16 July 2014, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS102) the Charities Act 2011 the and UK Generally Accepted Practice as it applies from 1 January 2015.
The financial statements have been prepared on a going concern basis under the historical cost convention modified to include certain items at fair value.
No changes have been made to the financial statements for previous years unless otherwise stated within the notes as a prior year adjustment.
Funds
Unrestricted fund s are income funds which are to be spent on the charitys general purpose.
Restricted fund s comprise of two elements :-
a) income from trusts or endowments which may be expended only on those restricted objects provided in the terms of the trust or bequest
b) donations or grants received for a specific object or invited by the charity for a specific object. The funds may only be expended on the specific object for which they were given. Any balance remaining unspent at the end of each year must be carried forward as a balance on that fund. The church does not usually invest separately for each fund. Where there is no separate investment, interest is apportioned to individual funds on an average balance basis.
Income
Planned giving, collections and donations are recognised when received. Tax refunds are recognised when the incoming resource to which they relate is received. Grants and Legacies are accounted for when the church is legally entitled to the amounts due. All other income is recognised when it is receivable. All incoming resources are accounted for gross.
Resources expended
Grants and donations are accounted for when paid over, or when awarded, if that award creates a binding or constructive obligation on the charity. Amounts received specifically for mission are dealt with as restricted funds. All other expenditure is generally recognised when it is incurred and is accounted for gross.
Fixed assets
Tangible fixed assets for use by the charity are stated at cost less depreciation
Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets estimated residual value, over their expected useful lives.
Equipment And Furniture @ 25% Reducing Balance
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Assemblies of God Pentecostal Church
Notes to the accounts cont'd
for the year to 31 December 2021
| 2 Charitable Activities | ||
|---|---|---|
| 2021 | 2020 | |
| 2(a). Direct Church Running Activities | £ | £ |
| Salaries & NIC | 19,899 | 18,970 |
| Church Running costs | 5,529 | 7,477 |
| Maintenance and Renewals | 4,960 | 1,568 |
| Planned Major Maintance | - | - |
| Central Region AOG sub | 1,100 | 1,260 |
| Conference | 25 | 248 |
| Small valued equipment | - | 330 |
| Hospitality and Events | 821 | 158 |
| Travel & Subsistence | - | 220 |
| Depreciation of equipment | 1,853 | 2,156 |
| Legal Cost | 146 | - |
| Independent Examination | 840 | 840 |
| Computer Expenses | 871 | 444 |
| Staff Training | 300 | 907 |
| Subscriptions | - | 146 |
| 36,344 | 34,724 | |
| 2(b). Related Church Activities | ||
| 2021 | 2020 | |
| £ | £ | |
| Ministry Gifts and support | - | |
| Missionary Support | 2,500 | 3,580 |
| Outreach | - | - |
| Worship Music expenditure | - | 5 |
| Youth and Childrens Ministry | - | - |
| 2,500 | 3,585 |
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Assemblies of God Pentecostal Church
Notes to the accounts cont'd for the year to 31 December 2021
| 3. Net movement in funds for the year The net movement in funds for the year is stated after charging: Independent Examination and accounts preparation 4. Staff Costs Wages & Salaries Social Security Costs Employer Pension costs |
2021 £ 840 2021 £ 18,528 1,002 369 19,899 |
2020 £ 840 2020 £ 18,570 - 400 |
|---|---|---|
| 18,970 |
No remuneration was paid to the trustees in the year
The average weekly number of staff employed by the church during the year was as follows:
Church Pastor 1 1
5. Tangible fixed assets for use by the Charity
| Cost as at 1 January 2021 Additions Cost as at 31 December 2021 Depreciation as at 1 January 2021 Charge for the year Depreciation as at 31 December 2021 Net book Value as at 31 December 2021 Net book Value as at 31 December 2020 |
Church Premises £ 128,816 - 128,816 - - - 128,816 128,816 |
Equipment & Furniture £ 31,414 940 32,354 24,945 1,853 26,798 5,556 6,469 |
TOTAL £ 160,230 940 |
|
|---|---|---|---|---|
| 161,170 | ||||
| 24,945 1,853 |
||||
| 26,798 | ||||
| 134,372 | ||||
| 135,285 |
The church premises were valued in February 2019 for insurance purposes at £950,000
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Assemblies of God Pentecostal Church
Notes to the accounts cont'd for the year to 31 December 2021
| 6. Debtors Gift Aid tax due 7.Bank and Cash Bank Accounts Cash 8.Creditors :amounts falling due in one year Accrual Pensions |
2021 £ 878 878 2021 £ 14,086 44 14,130 2021 £ 1,470 72 1,542 |
2020 £ 466 |
|---|---|---|
| 466 | ||
| 2020 £ 14,466 0 |
||
| 14,466 | ||
| 2020 £ 840 72 |
||
| 912 |
9.Funds
| Designated fixed assets Funds Unrestricted Funds Total Funds |
Balance 1 January 2021 £ 126,251 23,054 149,305 |
Incoming £ 940 36,437 |
Outgoing Balance 31 December 2021 £ £ 1,853 125,338 36,991 22,500 38,844 147,838 |
|---|---|---|---|
| 37,377 |
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Assemblies of God Pentecostal Church
Notes to the accounts cont'd for the year to 31 December 2021
10. SOFA Comparatives
| Restricted Funds Note Incoming Resources 2020 £ Voluntary income General Offerings and Donations - Gift Aid Tax Refunds Charitable activities Event Income Investment Income Bank Interest Other trading activities - - - Other Income - Total income - Resources Expended Charitable Activities Direct Church Running Activities 2(a) - Related Church Activities 2(b) - Total expenditure - Net Income (expenditure) - Reconciliation of Funds Total funds brought forward - Total funds carried forward - |
Restricted Funds Note Incoming Resources 2020 £ Voluntary income General Offerings and Donations - Gift Aid Tax Refunds Charitable activities Event Income Investment Income Bank Interest Other trading activities - - - Other Income - Total income - Resources Expended Charitable Activities Direct Church Running Activities 2(a) - Related Church Activities 2(b) - Total expenditure - Net Income (expenditure) - Reconciliation of Funds Total funds brought forward - Total funds carried forward - |
Unrestricted Funds 2020 £ 25,303 5,508 - - - |
Total Funds 2020 £ 25,303 5,508 - - - |
|---|---|---|---|
| - | 30,811 | 30,811 | |
- - |
34,724 3,585 |
34,724 3,585 |
|
| - | 38,309 | 38,309 | |
| - | (7,498) | (7,498) | |
| - | 156,803 | 156,803 | |
| - | 149,305 | 149,305 |
11. Risk and Reserves Policies
The trustees continue to monitor risk and reserves via regular meetings and treasurer reports
An officially agreed policy is under review. However there is an unofficial policy equivalent to 3 months routine expenditure which based on 2021 and 2020 was £9,500.
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