HIGHWAY OF HOLINESS
Statement of Financial Activities for the Year Ended 31 October 2024
HIGHWAY OF HOLINESS
FINANCIAL STATEMENT AS OF 31 OCTOBER 2024
Charity Registration: 1052667
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Accounts prepared and certified by: PMCT Chartered and Certified Accountants
HIGHWAY OF HOLINESS
Statement of Financial Activities for the Year Ended 31 October 2024
Contents
| 1. | Trustees' Report .................................................................................................................... 3 | |
|---|---|---|
| 1.1 | Main Activities ..................................................................................................................... 3 | |
| 1.2 | Achievements during the Year ............................................................................................. 5 | |
| 1.3 | Performance Review and Financial Analysis ...................................................................... 7 | |
| 1.4 | Strategic Development Beyond COVID-19......................................................................... 8 | |
| 1.5 | Financial Support, Allocations and Reserves Recommendations ................................. 8 | |
| 1.6 | Kingdom Lifestyle Mission (KLM) – International Educational Projects ........................ 10 | |
| 1.7 | Programmes Funding and Allocation of Sources of Funding ............................................ 12 | |
| 1.8 | Community Support, Youth Commitments and HOH Members Welfare ......................... 12 | |
| 2. | Accountants' Independent Report ...................................................................................... 14 | |
| 3. | Highway of Holiness: Annual Report for the Year Ended 31 October 2024.................... 18 | |
| 3.1 | Scope of Operation and Undertaken Activities .................................................................. 18 | |
| 3.2 | Planned Objectives ............................................................................................................. 19 | |
| 3.3 | Future Strategy ................................................................................................................... 19 | |
| 4. | Statement of Financial Performance Summary as of 31 October 2024 ............................. 20 | |
| 5. | Statement of Financial Position as of 31 October 2024 ..................................................... 21 | |
| 6. | Notes to the accounts: Year ended 31 October 2024 ......................................................... 22 | |
| 6.1 | Accounting Policies ........................................................................................................... 22 | |
| 6.2 | Statement of Performance as of 31 October 2024 ....................................................... 24 | |
| 6.3 | Direct Charitable Expenditure on Direct Charitable Objectives ........................................ 25 | |
| 6.4 | Management and Administration Expenses ....................................................................... 25 | |
| 6.5 | Assets and Capitalisation 2023 - 24 ................................................................................... 26 | |
| 6.6 | Departmental and Responsibility Management ................................................................. 26 | |
| 6.7 | Grants Account Details ...................................................................................................... 27 | |
| 6.8 | Grant Usage ........................................................................................................................ 27 | |
| 6.9 | Trustees' Commitment to Funded Project – Shortfall Financed by the Church ................. 28 | |
| 6.10 | Trustees' Commitment – Trustees' Remuneration and Staffing Costs ........................... 29 | |
| 6.11 | Reserve Policies 2023 - 24 ............................................................................................. 29 |
2
Accounts prepared and certified by: PMCT Chartered and Certified Accountants
HIGHWAY OF HOLINESS
Statement of Financial Activities for the Year Ended 31 October 2024
1. Trustees' Report
The Trustees of Highway of Holiness (HOH) present their report and annual accounts for the period ending 31 October 2024. This fiscal year marked a period of growth and strategic development across our key areas of mission, including an increase in church membership, the expansion of our community outreach in the UK, and international educational support through the Kingdom Lifestyle Mission (KLM).
Post-Pandemic Strategic Focus
Having moved beyond the challenges of the COVID-19 era, HOH has transitioned into a more strategic, impactful organisation. We are focused on building sustainable programmes that serve and address homelessness with a view to long-term independence for service users, local communities, and support underprivileged children abroad through KLM.
The reduction in available community services following the closure of several charities has placed additional demand on our resources. In response, HOH has strengthened partnerships, pursued targeted funding, and enhanced operational planning to ensure continuity and resilience in our humanitarian and outreach initiatives. We continue to receive guidance from professionals such as PMCT Accountants & Consultants and remain committed to delivering meaningful impact in the lives of our beneficiaries through our expanded, forward-thinking approach.
1.1 Main Activities
Highway of Holiness (HOH) continues to prioritise Christ-centred church activities while extending support to vulnerable individuals and local communities. During the reporting year, we supported over 165 homeless individuals with food, temporary accommodation, and advisory services in areas such as welfare, housing, and employment. In addition, we facilitated youth activities and personal development programmes across Tottenham and Haringey and delivered educational support for underprivileged children through our Kingdom Lifestyle Mission (KLM) in Ghana, India, Pakistan, and South Sudan.
Due to financial limitations, we were unable to expand missions and our international educational initiatives into Ethiopia, Bulgaria, Sierra Leone, Poland, Nigeria, Nicaragua, and Kenya as previously done. However, non-financial contributions and collaboration with local partners allowed us to maintain our presence and support in these regions. We also expanded employmentrelated training and engagement with agencies to enhance opportunities for young adults and those experiencing homelessness.
We strengthened our partnerships with churches and community organisations abroad, especially in Ghana, Pakistan, and South Sudan, where local partners significantly contributed to the success and continuity of KLM initiatives. Our church also hosted well-attended prayer and teaching
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Accounts prepared and certified by: PMCT Chartered and Certified Accountants
HIGHWAY OF HOLINESS
Statement of Financial Activities for the Year Ended 31 October 2024
conferences, while enhancing teacher and volunteer training for Sunday school and youth club programmes.
Acknowledgement of Grant Funding
In advancing our mission and objectives, HOH extended the gospel to more countries than ever before by working strategically with local churches and communities to tackle poverty and build resilience. We are particularly grateful to Haringey Council for their continued support, especially their provision of premises for our Summer Youth Programme at Bruce Grove Youth Centre. We gratefully acknowledge the generous financial support received during the financial year, including £76,813.00 from the Department for Levelling Up, Housing and Communities (DLUCH), and £104,114.00 from The National Lottery Community Fund (TNLCF), Reaching Communities Programme. These amounts include the utilisation of prior year restricted reserves during the reporting period.
Constraints and Challenges
With increasing community demand, what began as temporary humanitarian interventions has become essential and ongoing. The closure of many support services has led to a consistent rise in referrals from councils, hospitals, police services, and community organisations, placing significant pressure on our resources.
The conclusion of the initial phase of National Lottery funding had a significant impact on operations, necessitating that some roles be fulfilled voluntarily to sustain service delivery. Although the funding was later resumed, the administrator role was made redundant; it is now performed voluntarily. Despite growing recognition of the value and impact of our services, progress continues to be hindered by insufficient funding, particularly in support for homeless women, where the lack of suitable accommodation remains a critical barrier.
HOH aims to expand its Highway Youth Club (Keep It Real Youth Forum) and Saturday School for disadvantaged children, initiatives that have run since 1995, into new areas, subject to external funding. A key priority is the training of volunteers to operate a dedicated day centre, providing vital services such as welfare benefits support, housing and employment assistance, independent living skills, access to showers and laundry facilities.
Furthermore, the establishment of a structured night care model remains a key strategic priority, aimed at providing safe and secure overnight accommodation for service users experiencing homelessness or housing instability.
We remain grateful to our donors and extend special thanks to church members who permitted the use of restricted reserves, originally set aside for future building purchases, to fund urgent humanitarian needs both locally and internationally.
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Accounts prepared and certified by: PMCT Chartered and Certified Accountants
HIGHWAY OF HOLINESS
Statement of Financial Activities for the Year Ended 31 October 2024
1.2 Achievements during the Year
Independent Examiner's Report to the Trustees of Highway of Holiness (HOH)
In our capacity as appointed accountants, we present this report on the unaudited financial statements of Highway of Holiness (HOH) for the year ended 31 October 2024. This report is prepared for the trustees by section 43(7)(b) of the Charities Act 1993 and guided by the General Directions of the Charity Commission.
Respective Responsibilities of Trustees and Examiners
The trustees are responsible for the preparation of the financial statements, as presented on pages 13 to 20, and for ensuring that they comply with the applicable financial reporting framework and the Charities Act 1993. The trustees have confirmed that HOH is entitled to exemption from audit under section 43(2) of the Act.
We have been engaged to compile the unaudited financial statements from the accounting records and supporting information provided by the trustees and management, to assist them in fulfilling their statutory obligations.
Operational and Strategic Observations
HOH has demonstrated commendable resilience and discipline in both operational and financial management. The strategic use of a significant grant from Reaching Communities enabled essential work to be carried out among vulnerable groups, including the homeless.
Nonetheless, we note that demand for humanitarian and community services, particularly for homeless women, continues to exceed available resources by over 50%. A strategic reassessment of resource allocation and service delivery is critical, especially considering constrained, unrestricted reserves.
Growth in church membership is positively linked to prioritised evangelism and core ministry efforts. However, the multiuse of the current church auditorium for both worship and humanitarian services (even at a much-reduced rate) highlights the urgency for HOH to acquire a dedicated space to better support its expanding congregational and charitable obligations.
Basis of Independent Examination
Our independent examination was conducted based on the Charity Commission's General Directions for reporting. It included a review of accounting records, a comparison of the accounts with these records, and discussions with trustees concerning identified anomalies. The scope of our work does not constitute an audit, and accordingly, we do not express an audit opinion. However, the examination was extended to incorporate elements of audit rigour, considering HOH’s increasing operations and public accountability.
Post-COVID Landscape and Sectoral Challenges
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Accounts prepared and certified by: PMCT Chartered and Certified Accountants
HIGHWAY OF HOLINESS
Statement of Financial Activities for the Year Ended 31 October 2024
In the wake of the COVID-19 pandemic, the closure of many local charities has placed considerable pressure on HOH to meet rising community needs as a key service provider. Throughout the pandemic, HOH served as a vital lifeline—particularly for the homeless—thanks to support from government agencies and community donors. However, as emergency funding has diminished, demand for HOH’s services has continued to grow, without a corresponding increase in financial resources.
Despite these constraints, the Trustees have remained steadfast in their commitment to delivering services with dignity, especially in the provision of accommodation and care for the homeless. HOH has successfully accessed housing support through the government’s HMRC Universal Credit scheme, enabling many service users to take crucial steps towards independent living. In addition, HOH has taken proactive measures to secure rented accommodation for a number of individuals by acting as a guarantor to landlords and estate agents, ensuring stable housing opportunities for those in need.
Recommendations and Collaborative Imperatives
We strongly advise HOH to strengthen its partnerships with like-minded institutions, charities, local authorities, hospitals, and emergency services to extend the reach and impact of its services. This strategy will allow for more comprehensive service delivery without undue strain on internal finances.
Provision of Funds and Reserve Strategy
HOH’s current funding sources include:
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Restricted Grants from the National Lottery and benevolent institutions.
-
Restricted Members’ Donations towards building projects, with a history of partial redirection to humanitarian projects.
-
Operational Reserve, currently covering only 2.5 weeks of expected need—far short of the recommended 13-week minimum.
-
Unrestricted Reserves, which remain insufficient for supporting core youth and internal church programmes.
We advise against structural separation of church and humanitarian work, as such distinctions may hinder HOH’s flexibility to respond to community needs. Instead, a consolidated and integrated operational framework should be sustained.
A newly created reserve for music and youth ministry of £5,000, increased to £15,000 this year, demonstrates a prudent shift towards internal capacity building. We further commend the recommendation and partial execution of plans to scale Kingdom Life Ministry (KLM) through partnerships, thus reducing expenditure.
6
Accounts prepared and certified by: PMCT Chartered and Certified Accountants
HIGHWAY OF HOLINESS
Statement of Financial Activities for the Year Ended 31 October 2024
1.3 Performance Review and Financial Analysis
Overview of 2023–2024 Performance
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Total Incoming Resources decreased by 8.6%, from £463,828 in 2022–2023 to £423,744 in 2023–2024.
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Grant income declined by 46.8%, significantly impacting humanitarian programmes.
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Despite this, donations increased by 7.8%, demonstrating strong internal support.
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Total Expenditure reduced by 10.8%, reflecting careful cost control, particularly in rent and programme expenses.
Key Ratios and Percentages
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Surplus Margin (Net Surplus ÷ Total Income): £30,824 ÷ £423,744 ≈ 7.3% (2023–24)
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Compared to 5.0% in 2022–23, indicating improved efficiency in resource utilisation.
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Programmatic Spend Ratio (Direct Charitable Expenditure ÷ Total Income): £352,295 ÷ £423,744 ≈ 83.1%
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Indicates high alignment of spending with mission-related activities, although slightly down from 90.2% in 2022–23.
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Administrative Cost Ratio (Admin & Management ÷ Total Income): £40,625 ÷ £423,744 ≈ 9.6%, up from 4.8%, highlighting an increase in back-office costs, an area that should be monitored.
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Liquidity Ratio (Current Assets ÷ Short-Term Liabilities):
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£297,371 ÷ £48,879 ≈ 6.1, indicating strong short-term solvency.
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Unrestricted Reserve as % of Total Reserves:
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£20,102 ÷ £261,768 ≈ 7.7%, reflecting a vulnerability in freely available funds for operational flexibility.
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Restricted Building Fund Utilisation: £190,000 of historically accumulated building fund utilised for humanitarian support, underscoring the dual pressures on restricted funds.
Independent Examiner’s Statement
During our examination, no matter has come to our attention which gives us reasonable cause to believe that, in any material respect:
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accounting records were not properly kept by section 41 of the Charities Act 1993; or
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the accounts do not accord with the accounting records; or
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The accounts fail to comply with the applicable requirements of the Charities Act 1993.
Furthermore, we have not identified any matter to which attention should be drawn to enable a proper understanding of the accounts to be reached.
- Beneficiaries are now volunteering to help others, and volunteer engagement overall rose by 33% compared to the previous year.
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Accounts prepared and certified by: PMCT Chartered and Certified Accountants
HIGHWAY OF HOLINESS
Statement of Financial Activities for the Year Ended 31 October 2024
We received generous donations supplementing grant income, allowing us to meet growing service demands and better support our church members and the wider community. Our continued dedication was reflected in awards such as Homeless Shelter of the Year 2019–2020 and the Haringey Community Impact Award 2019.
1.4 Strategic Development Beyond COVID-19
In the wake of the COVID-19 pandemic, HOH shifted its operational focus from emergency response to strategic development. While the effects of the pandemic influenced earlier service models, our recent years have been defined by consolidation, innovation, and expansion. The surge in demand, further amplified by reduced services from other organisations, was met with strategic adaptations. With valuable support from PMCT Accountants & Consultants , we were able to:
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Improve Budgeting and Cost Control: Prioritising efficient use of resources to maintain essential services.
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Strengthen Partnerships: Deepening collaborations with local authorities, churches, and community groups.
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Secure Sustainability: Maintaining service provision amidst rising demand.
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Expand Community Reach: Ensuring that those most in need were reached through refined targeting and delivery.
HOH has fully transitioned from post-crisis response to strategic impact delivery, building a robust and sustainable model of service that supports vulnerable communities, promotes Gospel-centred transformation, and empowers the underprivileged, locally and globally.
1.5 Financial Support, Allocations and Reserves Recommendations
We wish to extend our deepest appreciation to all our donors—both publicly acknowledged and anonymous—on behalf of the many lives impacted by your generosity. Your benevolent contributions have been instrumental in enabling the delivery of our humanitarian and faith-based services.
Our sincere thanks also go to the members of Highway of Holiness Church, whose unwavering financial support and voluntary service have been indispensable. We also acknowledge with gratitude the valuable financial contributions received from individuals, local communities, and businesses. The sacrificial giving of our members and donors has been central to every achievement realised throughout the year.
Summary of Financial Support Received
During the financial year, we benefited from a wide range of funding sources:
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Accounts prepared and certified by: PMCT Chartered and Certified Accountants
HIGHWAY OF HOLINESS
Statement of Financial Activities for the Year Ended 31 October 2024
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Restricted Grants Brought Forward (from 2022–2023): A total of £71,401, comprising £41,223 from the Department for Levelling Up, Housing and Communities (DLUCH) and £30,178 from TNLCF Reaching Communities via the National Lottery Community Fund.
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DLUCH Grant Receipts (2023–2024): A total of £53,385 was received during the year, with £35,590 allocated for current-year operations and £17,795 carried forward as restricted funds for the 2024–2025 financial year.
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National Lottery Community Fund Receipts (2023–2024): A total of £105,020 was received, with £73,936 allocated for 2023–2024 and £31,084 carried forward as restricted funds for 2024–2025.
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Voluntary Donations: Generous donations amounting to £242,817 were received from members of Highway of Holiness and supporters outside the church community.
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Ongoing Philanthropic Contributions: We continue to be blessed by long-standing benefactors known for their consistent and generous support over the years.
We take this opportunity to express our sincere gratitude to the Department for Levelling Up, Housing and Communities, and TNLCF Reaching Communities via the National Lottery Community Fund. Your substantial assistance has made a tangible difference in the lives of those we serve, and we remain deeply thankful for your continued partnership.
Funding Overview and Allocations
For the financial year ending 31 October 2024, our financial position remained stable. We received £5,565 in online donations via PayPal in support of our Homeless Project and Local Community Care programmes. Additionally, members and supporters contributed a total of £237,252, forming the backbone of funding for our wider community outreach and Kingdom Lifestyle Mission (KLM) activities.
In total, grants received from DLUCH, and the National Lottery Community Fund amounted to £158,405, supplemented by the £71,401 brought forward from the previous year. DLUCH funding primarily supported our Homeless Project, while National Lottery funds were allocated to our Day Centre and Community Care services.
Allocations and Reserves Strategy
Following our Reserve Policy and professional advice from PMCT Accountants & Consultants, the key developments in our reserves during the year were as follows:
- Total income from donations and grants amounted to £423,744, reflecting a decrease of £40,084 from the previous year.
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Accounts prepared and certified by: PMCT Chartered and Certified Accountants
HIGHWAY OF HOLINESS
Statement of Financial Activities for the Year Ended 31 October 2024
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Building Fund Contributions:
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While over £64,800 was raised towards the building project, only £16,867 was added to the restricted building fund (increasing from £135,922 to £152,789), as trustees authorised the use of £47,933 to address heightened demands on our humanitarian services.
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Restricted Emergency Reserve: Increased by £2,153, from £22,847 to £25,000.
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Unrestricted Operational Reserve: Increased by £1,233, from £18,869 to £20,102. PMCT has recommended that this reserve be raised to £35,000 within three years, with an annual target increase of £5,000.
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General Performance Reserve for Core Church Operations: Increased by £10,000, from £5,000 to £15,000. PMCT recommends further increasing this reserve to a minimum of £30,000 over the next three years, to replace ageing essential assets such as musical instruments and seating.
Overall, total reserves rose by £7,731, from £254,038 in 2022–2023 to £261,769 in 2023–2024. Surplus and Forward Strategy
We achieved an annual surplus of £30,824, an increase of £7,551 over the prior year. This was achieved despite a reduction in overall expenditure and funding. Importantly, the overall funding reserve, excluding grant-restricted reserves, grew by £30,253, from £182,638 to £212,890.
We recognise that challenges remain, including limited funding and volunteer capacity, which continue to restrict our ability to respond fully to all support requests. Nonetheless, we remain steadfast in our mission, particularly in delivering meaningful support through Kingdom Lifestyle Mission (KLM) to countries afflicted by religious persecution and modern-day slavery.
1.6 Kingdom Lifestyle Mission (KLM) – International Educational Projects
During the financial year 2023–2024, our commitment to supporting disadvantaged children in Africa and Asia remained unwavering through the Kingdom Lifestyle Mission (KLM) – International Educational Projects. This initiative is specifically designed to provide supplementary education and training to vulnerable children and young people aged 5 to 18 who have limited or no access to formal educational systems.
The programme’s principal objective is to promote access to education, life skills, and personal development in regions affected by poverty, conflict, or systemic inequality. Funding for these initiatives was made possible through generous donations from members of the Highway of Holiness (HOH), with allocations from the building fund reserve. Members consented to the temporary reallocation of these restricted funds to meet urgent humanitarian needs.
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Accounts prepared and certified by: PMCT Chartered and Certified Accountants
HIGHWAY OF HOLINESS
Statement of Financial Activities for the Year Ended 31 October 2024
Summary of Missions and KLM Support (2023–2024)
| Country | KLM Education Support (£) |
Mission Outreach Support (£) |
Total Support (£) |
|---|---|---|---|
| Ghana | 3,929.54 | 1,016.65 | 4,946.19 |
| Pakistan | 610.00 | 3,051.50 | 3,661.50 |
| Liberia | – | 200.00 | 200.00 |
| Nigeria | – | 200.00 | 200.00 |
| India | – | 2,969.84 | 2,969.84 |
| South Sudan | 2,200.00 | 1,000.00 | 3,200.00 |
| Total | 6,739.54 | 8,437.99 | 15,177.53 |
Children's Educational Support: KLM Financing Allocations Comparison
| Country | 2023–2024 (£) | 2022–2023 (£) |
|---|---|---|
| Ghana | 3,929.54 | 4,529.46 |
| South Sudan | 2,200.00 | 4,500.00 |
| Pakistan | 610.00 | 1,840.00 |
| India | – | 80.99 |
| Total | 6,739.54 | 10,950.45 |
It is worth noting that, due to funding constraints in the 2022–2023 and 2023–2024 financial years, KLM was unable to extend support to countries previously assisted, including Ethiopia, Sierra Leone, Poland, Nigeria, the Philippines, Lebanon (crisis response), Nicaragua, and Kenya.
Number of Children Supported Through KLM (Three Primary Countries)
| Country | 2023–2024 | 2022–2023 | 2021–2022 |
|---|---|---|---|
| Ghana | 9,705 | 9,501 | 7,601 |
| South Sudan | 5,781 | 5,281 | 4,225 |
| Pakistan | 3,856 | 3,706 | 2,965 |
| Total | 19,342 | 18,488 | 14,791 |
The Kingdom Lifestyle Mission continues to serve as a vital conduit for educational and lifetransforming support. While constrained by financial limitations, our efforts reflect a steadfast commitment to nurturing the next generation through faith-led, impact-driven service. We extend heartfelt appreciation to all those whose selfless giving has enabled us to sustain this mission and improve the lives of children around the world.
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Accounts prepared and certified by: PMCT Chartered and Certified Accountants
HIGHWAY OF HOLINESS
Statement of Financial Activities for the Year Ended 31 October 2024
1.7 Programmes Funding and Allocation of Sources of Funding
The church’s core mission and humanitarian initiatives, including training programmes, supplementary education, homelessness outreach, youth engagement, and general operational support, were financed through a blend of donations, grant funding, and the strategic use of unrestricted reserves.
In 2022–2023, total incoming resources reached £463,82.00, supported by a strong grant portfolio contributing £205,792.00, the highest in the two-year comparison. Donations remained steady at £225,240, demonstrating consistent donor confidence. The drawdown from prior year reserves was more modest at £32,796, indicating a stronger external funding environment.
In 2023-2024, donations remained strong at £242,817, showing continued supporter engagement with a modest year-on-year increase. However, total incoming resources for the year amounted to £423,744, reflecting a slight decrease of £40,084 (or 8.6%) compared to the previous year. This is due to the Grant income declining significantly from £205,792 in 2022–2023 to £109,526 in 2023– 2024, a reduction of nearly 47%, impacting some programme expansion plans and necessitating greater reliance on the church members' building project reserves.
Income Required for Annual Operations
| 2023 – 2024 | 2022 – 2023 | |
|---|---|---|
| Incoming Resources | ||
| Prior Year Unrestricted Reserve(Advance)now as Income | 71,401 | 32,796 |
| Donations | 242,817 | 225,240 |
| Grants Allocated | 109,526 | 205,792 |
| Total Incoming Resources | 423,744 | 463,828 |
1.8 Community Support, Youth Commitments and HOH Members Welfare
During the 2023–2024 financial year, the welfare of both our wider community and the members of Highway of Holiness (HOH) remained central to our mission. We maintained a strong commitment to supporting individuals across all age groups through inclusive and holistic outreach, delivered with compassion, dignity, and integrity.
A key highlight of the year was the continued success of our Youth Café and Club at Bruce Grove Youth Centre, generously facilitated by Haringey Council. This space served as the heart of our Community Youth Programme, offering subsidised meals, recreational activities, and structured personal development sessions. The initiative remained open to all young people, regardless of
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Accounts prepared and certified by: PMCT Chartered and Certified Accountants
HIGHWAY OF HOLINESS
Statement of Financial Activities for the Year Ended 31 October 2024
background, with a special emphasis on reaching the most vulnerable, including the local traveller community. Through this, we strengthened social cohesion and community inclusion.
Our Community Care Programme provided a safe and confidential support environment for individuals seeking emotional, social, or practical help. It played a vital role in fostering trust and building long-term relationships with often-marginalised members of society.
In parallel, our Homeless Programme responded to growing local needs. In 2023–2024, we supported 135 individuals, up from 120 the previous year. Referrals came from a range of trusted institutions, including hospitals, the British Red Cross, police, refugee agencies, local authorities, and crisis support organisations such as Thames Reach and Crisis. Many beneficiaries lacked recourse to public funds, underscoring the crucial role our charity plays in plugging the gaps left by statutory services.
These interventions were made possible through robust collaboration with an extensive network of partner organisations, including Shelter, Mind Haringey, Refugee Council, Edible London, faithbased groups, healthcare providers, housing bodies, and other grassroots charities.
However, the growing demand, particularly among homeless individuals and young adults, placed significant strain on our finances. In response, we have initiated plans to acquire a hostel facility, which would provide transitional accommodation and promote independent living pathways. In tandem, we have identified the strategic need to launch a social enterprise and employment training programme to tackle youth unemployment, especially in Tottenham.
Recognising the limitations of relying solely on HOH member contributions, we have made it a priority to diversify our income streams. We are actively pursuing external funding opportunities, partnerships, and grants to ensure the sustainability and expansion of our support services.
Trustees’ Conclusion for 2023–2024
The trustees acknowledge the tremendous efforts made during the year in maintaining and extending community support services under increasingly challenging conditions. Despite financial pressures, the church remained a beacon of hope for many, achieving measurable social impact. Going forward, the trustees reaffirm their commitment to broadening external funding sources, securing dedicated facilities, and investing in enterprise-led solutions to reduce dependency and empower beneficiaries toward long-term independence.
Signed: AlexGyasi
Rev Alexander Gyasi - MBE
Chairman of the Trust
For and on behalf of the Trustees and Members of Highway of Holiness Date: 29 June 2025
13
Accounts prepared and certified by: PMCT Chartered and Certified Accountants
HIGHWAY OF HOLINESS
Statement of Financial Activities for the Year Ended 31 October 2024
2. Accountants' Independent Report
Independent Examiner's Report to the Trustees of Highway of Holiness (HOH)
In our capacity as appointed accountants, we present this report on the unaudited financial statements of Highway of Holiness (HOH) for the year ended 31 October 2024. This report is prepared for the trustees by section 43(7)(b) of the Charities Act 1993 and guided by the General Directions of the Charity Commission.
Respective Responsibilities of Trustees and Examiners
The trustees are responsible for the preparation of the financial statements, as presented on pages 13 to 20, and for ensuring that they comply with the applicable financial reporting framework and the Charities Act 1993. The trustees have confirmed that HOH is entitled to exemption from audit under section 43(2) of the Act.
We have been engaged to compile the unaudited financial statements from the accounting records and supporting information provided by the trustees and management, to assist them in fulfilling their statutory obligations.
Operational and Strategic Observations
HOH has demonstrated commendable resilience and discipline in both operational and financial management. The strategic use of a significant grant from Reaching Communities enabled essential work to be carried out among vulnerable groups, including the homeless.
Nonetheless, we note that demand for humanitarian and community services—particularly for homeless women—continues to exceed available resources by over 50%. A strategic reassessment of resource allocation and service delivery is critical, especially considering constrained, unrestricted reserves.
Growth in church membership is positively linked to prioritised evangelism and core ministry efforts. However, the multiuse of the current church auditorium for both worship and humanitarian services (even at a much-reduced rate) highlights the urgency for HOH to acquire a dedicated space to better support its expanding congregational and charitable obligations.
Basis of Independent Examination
Our independent examination was conducted based on the Charity Commission's General Directions for reporting. It included a review of accounting records, a comparison of the accounts with these records, and discussions with trustees concerning identified anomalies. The scope of our work does not constitute an audit, and accordingly, we do not express an audit opinion. However, the examination was extended to incorporate elements of audit rigour, considering HOH’s increasing operations and public accountability.
14
Accounts prepared and certified by: PMCT Chartered and Certified Accountants
HIGHWAY OF HOLINESS
Statement of Financial Activities for the Year Ended 31 October 2024
Post-COVID Landscape and Sectoral Challenges
In the wake of the COVID-19 pandemic, the closure of many local charities has placed considerable pressure on HOH to meet rising community needs as a key service provider. Throughout the pandemic, HOH served as a vital lifeline—particularly for the homeless—thanks to support from government agencies and community donors. However, as emergency funding has diminished, demand for HOH’s services has continued to grow, without a corresponding increase in financial resources.
Despite these constraints, the Trustees have remained steadfast in their commitment to delivering services with dignity, especially in the provision of accommodation and care for the homeless. HOH has successfully accessed housing support through the government’s HMRC Universal Credit scheme, enabling many service users to take crucial steps towards independent living. In addition, HOH has taken proactive measures to secure rented accommodation for several individuals by acting as a guarantor to landlords and estate agents, ensuring stable housing opportunities for those in need.
Recommendations and Collaborative Imperatives
We strongly advise HOH to strengthen its partnerships with like-minded institutions, charities, local authorities, hospitals, and emergency services to extend the reach and impact of its services. This strategy will allow for more comprehensive service delivery without undue strain on internal finances.
Provision of Funds and Reserve Strategy
HOH’s current funding sources include:
-
Restricted Grants from the National Lottery and benevolent institutions.
-
Restricted Members’ Donations towards building projects, with a history of partial redirection to humanitarian projects.
-
Operational Reserve, currently covering only 2.5 weeks of expected need—far short of the recommended 13-week minimum.
-
Unrestricted Reserves, which remain insufficient for supporting core youth and internal church programmes.
We advise against structural separation of church and humanitarian work, as such distinctions may hinder HOH’s flexibility to respond to community needs. Instead, a consolidated and integrated operational framework should be sustained.
A newly created reserve for music and youth ministry of £5,000, increased to £15,000 this year, demonstrates a prudent shift towards internal capacity building. We further commend the
15
Accounts prepared and certified by: PMCT Chartered and Certified Accountants
HIGHWAY OF HOLINESS
Statement of Financial Activities for the Year Ended 31 October 2024
recommendation and partial execution of plans to scale Kingdom Life Ministry (KLM) through partnerships, thus reducing expenditure.
HOH Performance Review and Financial Analysis:
Overview of 2023–2024 Performance
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Total Incoming Resources decreased by 8.6%, from £463,828 in 2022–2023 to £423,744 in 2023–2024.
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Grant income declined by 46.8%, significantly impacting humanitarian programmes.
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Despite this, donations increased by 7.8%, demonstrating strong internal support.
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Total Expenditure reduced by 10.8%, reflecting careful cost control, particularly in rent and programme expenses.
Key Ratios and Percentages
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Surplus Margin (Net Surplus ÷ Total Income): £30,824 ÷ £423,744 ≈ 7.3% (2023–24)
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Compared to 5.0% in 2022–23, indicating improved efficiency in resource utilisation.
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Programmatic Spend Ratio (Direct Charitable Expenditure ÷ Total Income): £352,295 ÷ £423,744 ≈ 83.1% Indicates high alignment of spending with mission-related activities, although slightly down from 90.2% in 2022–23.
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Administrative Cost Ratio (Admin & Management ÷ Total Income): £40,625 ÷ £423,744 ≈ 9.6%, up from 4.8%, highlighting an increase in back-office costs—an area that should be monitored.
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Liquidity Ratio (Current Assets ÷ Short-Term Liabilities): £297,371 ÷ £48,879 ≈ 6.1, indicating strong short-term solvency.
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Unrestricted Reserve as % of Total Reserves:
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£20,102 ÷ £261,768 ≈ 7.7%, reflecting a vulnerability in freely available funds for operational flexibility.
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Restricted Building Fund Utilisation: £190,000 of historically accumulated building fund utilised for humanitarian support, underscoring the dual pressures on restricted funds.
Independent Examiner’s Statement
During our examination, no matter has come to our attention which gives us reasonable cause to believe that, in any material respect:
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accounting records were not properly kept by section 41 of the Charities Act 1993; or
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the accounts do not accord with the accounting records; or
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Accounts prepared and certified by: PMCT Chartered and Certified Accountants
HIGHWAY OF HOLINESS
Statement of Financial Activities for the Year Ended 31 October 2024
• The accounts fail to comply with the applicable requirements of the Charities Act 1993. Furthermore, we have not identified any matter to which attention should be drawn to enable a proper understanding of the accounts to be reached.
Signature: VincSant
PMCT Accountants Partner Name: Vincent Santeng – CA (GH), PGDIP, MBA, FCCA
In a Capacity as a Qualified Chartered and Certified Accountant.
Date: 29 June 2025
Address: Unit 322B Ability House, 121 Brooker Road, Waltham Abbey, EN9 1JH
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Accounts prepared and certified by: PMCT Chartered and Certified Accountants
HIGHWAY OF HOLINESS
Statement of Financial Activities for the Year Ended 31 October 2024
3. Highway of Holiness: Annual Report for the Year Ended 31 October 2024
- 3.1 Scope of Operation and Undertaken Activities
The Trustees report that the financial year ending 31 October 2024 presented ongoing challenges for the organisation, particularly in response to growing demands across all service areas.
The Highway Homeless Programme has exceeded its current capacity, now encompassing supervised hostel shelters and the provision of food vouchers for homeless individuals. Our service users represent a wide range of nationalities, including individuals from Eastern Europe, Africa, Asia (notably China), and the UK. By the close of the financial year, the Programme had served people from numerous backgrounds, reflecting the growing need for inclusive support. Additionally, we continue to deliver alcohol counselling and detoxification services in collaboration with specialist agencies.
One of our housing facilities for women, previously made available through the generosity of a benefactor, was only available temporarily and is no longer in use. The Church is therefore actively seeking support from community partners and potential sponsors to secure new, permanent accommodation to meet the increasing demand for housing services for the homeless.
We maintain productive working relationships with several North London boroughs, including Haringey Council, in the delivery of our homelessness initiatives. The continued success of these projects is largely due to the dedicated support of volunteers, both from within and outside the Highway of Holiness community, who have contributed food, clothing, and their time. We are also grateful to the many churches and organisations that have shown interest in and pledged support for our Homeless Programme.
Our Community Youth Programmes have continued to expand, gaining recognition beyond our immediate locality. These Programmes provide vital services such as social support, counselling, and developmental opportunities, including group excursions and residential camps. Their purpose is to empower young people to realise their potential irrespective of background or belief. Through these activities, we deliver supplementary education, build confidence, foster social integration, and enhance employment prospects, while also promoting Christian values and social responsibility.
We have also supported other charitable organisations engaged in youth work. However, our youth television programme, Keep It Real (KIR), is currently suspended due to financial constraints. We are actively seeking sponsorship to relaunch and expand this important initiative, given its positive impact on youth across the country.
In keeping with our Christian mission, we held regular teaching and prayer seminars throughout the year. These events have seen increasing attendance, particularly among young people seeking
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Accounts prepared and certified by: PMCT Chartered and Certified Accountants
HIGHWAY OF HOLINESS
Statement of Financial Activities for the Year Ended 31 October 2024
alternatives to gang culture and striving to lead Christ-centred lives. We also ran training sessions for our Children and Youth Teachers/Counsellors, who have continued to serve beyond their means, contributing their time and skills selflessly. These sessions were designed to equip volunteers with the tools needed to respond to evolving educational trends and the shifting cultural dynamics affecting young people in our community.
3.2 Planned Objectives
During the reporting year, we received numerous requests for assistance from youth organisations within the UK and internationally, including from Pakistan, India, South Sudan, Ghana, Ethiopia, Kenya, Bulgaria, and Romania. Our objective is to seek funding from diverse, sustainable sources to continue offering humanitarian aid to these groups, subject to the availability of resources.
We aim to maintain our existing homelessness services in Tottenham. Should suitable accommodation be secured, it will be fully dedicated to the Homeless Programme. A substantial amount has already been earmarked as committed expenditure and recognised as a liability within our financial planning.
Demand from local communities, councils, and government agencies for the expansion of our Youth Programmes continues to grow, and we remain committed to meeting these requests wherever feasible.
We also plan to sustain all current Programmes and expand our volunteer training initiatives, contingent upon the availability of financial support from partners and sponsors.
3.3 Future Strategy
The Trustees recognise that the current funding model for the Church, Community, Youth, and Homeless Programmes is unsustainable in the long term. At present, resources designated for core Church activities—including member welfare, musical equipment replacement, outreach, and building fund reserves—are being redirected to support our Youth initiatives (including Keep It Real), education programmes, and the Homeless Programme.
With an ageing congregation and an increasing number of members nearing retirement, there is an urgent need to intensify efforts in evangelism and youth engagement to attract a more diverse and youthful membership from the wider community.
It is projected that expenditure will need to increase by at least 150% over the next five years to maintain the current level of activity and fulfil financial obligations. A significant portion of HOH income continues to be allocated to the Homeless Programme, and the generosity of our members and the public in this regard is both appreciated and encouraged.
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Accounts prepared and certified by: PMCT Chartered and Certified Accountants
HIGHWAY OF HOLINESS
Statement of Financial Activities for the Year Ended 31 October 2024
Given the growing demand, highlighted by ongoing referrals from police, hospitals, NGOs (such as the Red Cross), and councils including Haringey, Hackney, and Enfield, it is evident that a strategic revision is required to scale the Programme effectively.
While the Church will continue to fund the Homeless Programme for the time being, we strongly believe that the Homeless Programme should be registered as an independent charity. This will allow us to seek funding from a wider range of sources and engage additional partners to meet the increasing demand and continue serving our fellow human beings with compassion and dignity.
4. Statement of Financial Performance Summary as of 31 October 2024
| 2023–2024 | 2022–2023 | |
|---|---|---|
| Incoming Resources | ||
| Unrestricted Reserve(Advance)now as Income | 71,401 | 32,796 |
| Donations | 242,817 | 225,240 |
| Grants | 109,526 | 205,792 |
| Total Incoming Resources | 423,744 | 463,828 |
| Resources Expended | ||
| Direct Charitable Expenditure on charitable objectives | 352,295 | 418,216 |
| Other Expenditure: Management and Administration of the Charity | 40,625 | 22,339 |
| Total Resources Expended | 392,920 | 440,555 |
| Net Incoming Resources for theyear | 30,824 | 23,273 |
| Fund Balances brought forward | 182,066 | 158,793 |
| Fund Balances carried forward | 212,891 | 182,066 |
The net movement in funds for the years stated above arose entirely from continuing activities. There are no recognised gains or losses for the years above other than those included in the above Statement of Financial Activities. The notes from Pages 17 to 23 form part of these accounts. Above is the Highway of Holiness performance statement, and the Balance Sheet below reflects a true and fair view of the church's position as of 31 October 2024.
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Accounts prepared and certified by: PMCT Chartered and Certified Accountants
HIGHWAY OF HOLINESS
Statement of Financial Activities for the Year Ended 31 October 2024
5. Statement of Financial Position as of 31 October 2024
| 2023–2024 | 2022–2023 | |
|---|---|---|
| Fixed Assets | ||
| Tangible Fixed Assets | 13,277 | 5,415 |
| Current Assets | ||
| Advance Payment | 9,250 | 9,250 |
| Restricted Amount at Bank Re Grant | 48,879 | 71,401 |
| Funds Deposited by Members Specifically for the Church Building Project |
152,789 | 135,922 |
| Balance at Bank and in Hand | 86,453 | 103,452 |
| 297,371 | 320,025 | |
| Short-Term Liabilities | ||
| Operational Liabilities fallingdue within oneyear | 48,879 | 71,401 |
| 48,879 | 71,401 | |
| Net Current Assets | 248,492 | 248,624 |
| Net Assets | 261,768 | 254,038 |
| Funds | ||
| Restricted Grants | 48,879 | 71,401 |
| Restricted Operational Emergency Reserve | 25,000 | 22,847 |
| Restricted Members'Donations for Building Project | 152,789 | 135,922 |
| Unrestricted Operational Reserve | 20,102 | 18,869 |
| General Performance Reserve for Core Church Operation | 15,000 | 5,000 |
| 261,769 | 254,038 |
Approved by the Board of Trustees on 29 June 2025.
Signed: AlexGyasi
Rev Alexander Gyasi - MBE
Chairman of the Trust
For and on behalf of the Trustees and Members of Highway of Holiness
Date: 29 June 2025
The notes to the accounts are on pages 20 to 27.
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Accounts prepared and certified by: PMCT Chartered and Certified Accountants
HIGHWAY OF HOLINESS
Statement of Financial Activities for the Year Ended 31 October 2024
6. Notes to the accounts: Year ended 31 October 2024
- 6.1 Accounting Policies
6.1.1 Basis of measurement and preparation of accounts
Highway of Holiness, a UK-registered charity, prepares its financial statements using the historical cost convention in compliance with the Financial Reporting Standard for Smaller Entities (Effective April 2008) and the revised Statement of Recommended Practice 'Accounting for Charities' (SORP). The financial statements are based on the accrual basis of accounting, following the applicable Financial Reporting Standard for Smaller Entities (FRSSE) at the reporting time. All assets and liabilities are recorded at historical cost, and there are no financial instruments measured at fair value as per relevant accounting standards for Highway of Holiness.
6.1.2 Tangible Fixed Assets Depreciation Policy
Tangible fixed assets are capitalised, considering any grants receivable, and are depreciated over their estimated useful lives. The depreciation is calculated using the reducing-balance capitalising method at the following rates:
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Equipment: 25% on Net Book Value
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Furniture: 25% on Net Book Value
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Fittings: 25% on Net Book Value
The financial statements will disclose the estimated useful lives and depreciation rates applied to different asset categories. The straight-line method may be used for depreciation unless a different approach, like the reducing balance method, is deemed more appropriate.
6.1.3 Income Recognition
Income is recorded on an accrual basis, except for donations, which are recognised when received during the period. Income will be acknowledged when there is a probable inflow of economic benefits to the charity, and the amount can be reliably measured. Donations and grants received will be recognised as income when the charity gains control over the contribution, usually upon receipt.
6.1.4 Expenditure
All expenses are recorded on an accrual basis. Direct charitable expenditure pertains to costs directly related to the charity's objectives, while administrative costs cover central administration expenses and wages. Both types of expenditure are recognised in the relevant accounting period.
6.1.5 Valuation information and policy
When relevant, valuations will be conducted based on the lower cost and net realisable value, considering any obsolescence. Cost includes all direct expenditures and an appropriate portion of fixed and variable overheads. Valuation of assets and liabilities will be carried out following the
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Accounts prepared and certified by: PMCT Chartered and Certified Accountants
HIGHWAY OF HOLINESS
Statement of Financial Activities for the Year Ended 31 October 2024
applicable accounting standards, considering potential obsolescence, and recording all directly attributable expenses and a suitable portion of fixed and variable overheads.
6.1.6 Funds
The charity's funds are categorised into restricted funds, designated for specific, dedicated purposes as identified by donors, and unrestricted funds, available for the trustees' discretion.
6.1.7 Financial Reporting
The financial statements will be prepared following relevant accounting standards to present a true and fair view of the charity's financial position, performance, and cash flows. The statements will consist of a balance sheet, income statement, statement of cash flows, and accompanying notes, as mandated by accounting standards and legal requirements.
6.1.8 Compliance with Legal and Regulatory Requirements
The accounting policies and practices will comply with the guidelines of the Charity Commission for England and Wales (or the relevant regulatory authority) and other relevant laws and regulations governing the operations and reporting of charities.
6.1.9 Changes in Accounting Policies
Any changes in accounting policies shall be disclosed in the financial statements, along with the reasons for the change and its impact on the financial results.
6.1.10 Accounting Records and Documentation
Proper accounting records and documentation shall be maintained to support the financial transactions and provide an audit trail for the financial statements.
6.1.11 Gift Aids Received and Receivable
Following the principles of recognisability and prudence, this classification is treated as an offbalance sheet item, instilling confidence in members that gift aid claimed and claimable will replace members' restricted reserve used for humanitarian purposes. This policy covers the amount available as a deposit for building funds and purchase processing costs. Trustees will continue engaging with HOH members as has been the case for prior years on hedging gift aid receipts, guided by PMCT Accountants & Consultants, using the already implemented bank client account to safeguard the HOH building fund hedging strategy. This measure limits exposure and enhances the probability of allowing members' restricted funds to be used for humanitarian activities while ensuring the specific project donations for purchasing the church building are securely managed.
6.1.12 Going Concern
The financial statements shall be prepared on a going-concern basis unless there is significant uncertainty about the charity's ability to continue its operations. In such cases, appropriate disclosures shall be made in the financial statements.
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Accounts prepared and certified by: PMCT Chartered and Certified Accountants
HIGHWAY OF HOLINESS
Statement of Financial Activities for the Year Ended 31 October 2024
6.2 Statement of Performance as of 31 October 2024
| 2023 – 2024 | 2022 – 2023 | |
|---|---|---|
| Incoming Resources | ||
| Prior Year Unrestricted Reserve(Advance)now as Income | 71,401 | 32,796 |
| Donations | 242,817 | 225,240 |
| Grants Allocated | 109,526 | 205,792 |
| Total Incoming Resources | 423,744 | 463,828 |
| Direct Charitable Expenditure on Direct Charitable Objectives | ||
| Allowances - HighwayHouse | 70,667 | 72,122 |
| Allowances - Highwayof Holiness | 27,676 | 27,900 |
| CommunityHumanitarian Care and Homeless Programme | 150,666 | 202,074 |
| Departmental and ResponsibilityManagement | 64,861 | 68,240 |
| Lease Rent | 35,796 | 45,793 |
| Office Rates | 2,629 | 2,086 |
| 352,295 | 418,216 | |
| Management and Administration Expenses | ||
| Travel Vouchers | 945 | |
| Motor Expenses | 3,382 | 1,790 |
| Light & Heat | 1,732 | 2,163 |
| Telephone | 460 | 681 |
| Books,Tapes,Stationery& Administration | 8,240 | 4,611 |
| Subscription | 2,174 | 1,681 |
| Bank Charges | 55 | 89 |
| Insurances | 3,165 | 2,348 |
| Software | 2,341 | 1,845 |
| Depreciation(Capital Allowance) | 4,425 | 1,804 |
| General Maintenance Department | 3,124 | - |
| Accountancyand Professional Fees | 3,750 | 3,750 |
| Bookkeepingand Consultants | 8,581 | 3,000 |
| Printing and Stationery | 907 | |
| Bank Interest | -3,034 | -1,423 |
| Postal | 378 | |
| 40,625 | 22,339 | |
| Total Expenditure | 392,920 | 440,555 |
| Net Surplus or Deficit | 30,824 | 23,273 |
| Fund Balances brought forward | 182,066 | 158,793 |
| Fund Balances carried forward | 212,891 | 182,066 |
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Accounts prepared and certified by: PMCT Chartered and Certified Accountants
HIGHWAY OF HOLINESS
Statement of Financial Activities for the Year Ended 31 October 2024
6.3 Direct Charitable Expenditure on Direct Charitable Objectives
| 2023 – 2024 | 2022 – 2023 | |
|---|---|---|
| Direct Charitable Expenditure on Direct Charitable Objectives | ||
| Allowances - HighwayHouse | 70,667 | 72,122 |
| Allowances - Highwayof Holiness | 27,676 | 27,900 |
| CommunityHumanitarian Care and Homeless Programme | 150,666 | 202,074 |
| Departmental and ResponsibilityManagement | 64,861 | 68,240 |
| Lease Rent | 35,796 | 45,793 |
| Office Rates | 2,629 | 2,086 |
| 352,295 | 418,216 |
6.4 Management and Administration Expenses
| 2023 – 2024 | 2022 – 2023 | |
|---|---|---|
| Management and Administration Expenses | ||
| Travel Vouchers | 945 | |
| Motor Expenses | 3,382 | 1,790 |
| Light & Heat | 1,732 | 2,163 |
| Telephone | 460 | 681 |
| Books,Tapes,Stationery& Administration | 8,240 | 4,611 |
| Subscription | 2,174 | 1,681 |
| Bank Charges | 55 | 89 |
| Insurances | 3,165 | 2,348 |
| Software | 2,341 | 1,845 |
| Depreciation(Capital Allowance) | 4,425 | 1,804 |
| General Maintenance Department | 3,124 | - |
| Accountancyand Professional Fees | 3,750 | 3,750 |
| Bookkeepingand Consultants | 8,581 | 3,000 |
| Printing and Stationery | 907 | |
| Bank Interest | -3,034 | -1,423 |
| Postal | 378 | |
| 40,625 | 22,339 |
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Accounts prepared and certified by: PMCT Chartered and Certified Accountants
HIGHWAY OF HOLINESS
Statement of Financial Activities for the Year Ended 31 October 2024
6.5 Assets and Capitalisation 2023 - 24
| Cost | Equipment | Furniture |
Fittings |
Total |
|---|---|---|---|---|
| As of 01 November 2023 | 35,268 | 11,309 | 58,290 | 104,867 |
| Additions | 12,287 | 12,287 | ||
| Disposal | ||||
| 47,555 | 11,309 | 58,290 | 117,154 | |
| Depreciation | ||||
| As of 01 November 2023 | 32,229 | 10,017 | 57,206 | 99,452 |
| Charge for the Year- 2023- 24 | 3,831 | 323 | 271 | 4,425 |
| Disposal | ||||
| 36,061 | 10,340 | 57,476 | 103,877 | |
| Net Book Value- 31 October 2024 | 11,494 | 969 | 814 | 13,277 |
| Net Book Value- 31 October 2024 | 3,038 | 1,292 | 1,084 | 5,415 |
6.6 Departmental and Responsibility Management
| 2023- 24 | 2022- 23 | |
|---|---|---|
| Youth and Retreat Expenses | 14,720.10 | 18,240.00 |
| Audio Ministry | 4,250.00 | 4,459.00 |
| Music & Worship | 7,319.99 | 7,697.75 |
| Prayer Ministry | 4,250.00 | 3,600.00 |
| Outreach Expenses | 5,735.00 | 9,291.64 |
| VisitingPreachers | 4,877.00 | 2,200.00 |
| Mission & Evangelism | 11,416.40 | 8,201.64 |
| Members Welfare | 12,292.40 | 14,550.00 |
| 64,861 | 68,240.03 |
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Accounts prepared and certified by: PMCT Chartered and Certified Accountants
HIGHWAY OF HOLINESS
Statement of Financial Activities for the Year Ended 31 October 2024
6.7 Grants Account Details
| Accounting Year |
Payment Date |
Description | Credit | 01/11/2023 - 30/10/2024 |
01/11/2024 - 30/10/2025 |
|---|---|---|---|---|---|
| 2022-23 | 03/07/2023 | DLUHC 1000 2401235500 K BGC | 73,935.00 | 30,806.25 | |
| 2022-23 | 02/10/2023 | DLUHC 1000 2401245372 K BGC | 25,000.00 | 10,416.67 | |
| 2022-23 | 18/08/2023 | Main Grants BGC | 51,733.50 | 30,177.88 | |
| Brought Forward as Restricted Reserve | 71,400.79 | ||||
| 2023-24 | 01/07/2024 | DLUHC - 1000 2401279090 K BGC | 53,385.00 | 35,590.00 | 17,795.00 |
| 2023-24 | 16/02/2024 | Main Grants BGC | 51,733.50 | 51,733.50 | |
| 2023-24 | 27/09/2024 | Main Grants BGC | 53,286.50 | 22,202.71 | 31,083.79 |
| 109,526.21 | 48,878.79 |
01/11/2024 - 30/10/2025 as Restricted Reserve with commitment is £48,878.79
6.8 Grant Usage
| 2023 - 24 | |||
|---|---|---|---|
| Prior Year Restricted Reserved | 71,401 | ||
| Grant Received and Allocated | 109,526 | ||
| Grant Income Allocated and Used | 180,927 | ||
| Financed By Grant |
Financed By the Highway of Holiness (Church) |
Total Expenses Spent |
|
| Allowances - HighwayHouse | 70,667 | 70,667 | |
| Homeless Project | 83,517 | 83,517 | |
| CommunityMeal | 8,000 | 9,785 | 17,785 |
| Local Committee Feeding | 8,500 | 8,909 | 17,409 |
| Local Youth Project | 7,000 | 3,500 | 10,500 |
| Rented for Homeless - Utilities and Other Households |
3,274 | 3,634 | 6,908 |
| 180,957 | 25,828 | 206,785 |
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Accounts prepared and certified by: PMCT Chartered and Certified Accountants
HIGHWAY OF HOLINESS
Statement of Financial Activities for the Year Ended 31 October 2024
6.9 Trustees' Commitment to Funded Project – Shortfall Financed by the Church
Due to insufficient grant funding, the church utilised a portion of its accumulated restricted building funds to support grant-funded projects within its community initiatives, categorising the expenditure under the ministry.
| 2023-24 | 2022-23 | ||
|---|---|---|---|
| Total Humanity Funding Cost | 202,074.40 | ||
| Grant Allocated for the Year | 180,927.00 | ||
| Less Grant Personnel Cost | 70,666.56 | ||
| Direct Grant Funded Humanitarian Projects | 110,260.44 | 110,260.44 | |
| Humanitarian Cost Funded Directly by the Highway of Holiness |
91,813.96 | ||
| Grant Funded Projects Financed by the Church | |||
| Finance bythe Highwayof Holiness to support Grantprojects | 25,828.00 | 1,881.43 | |
| Allocation of the Highway of Holiness Non-Grant Funded | |||
| Feeding- Community | 3,000.96 | 1,855.00 | |
| Food Vouchers – Homeless | 1,250.00 | ||
| Local CommunitySupport | 5,000.00 | 1,400.00 | |
| Hotel Accommodation | 3,000.00 | 5,000.00 | |
| Transportation and Travel Expenses | 885.00 | 455 | |
| Homeless Project Expenditure | 1,555.00 | 3,555.00 | |
| DayCare Centre - WeeklyFood FeedingProgramme | 4,255.00 | 2,475.00 | |
| Participants Care: Washing and Bathing Support, including toiletries and hygiene |
3,688.00 | 2,628.00 | |
| Daycare Participants Care: Clothingand Shoe Support | 4,215.00 | 1,379.00 | |
| Cash Disbursement on FamilyFood Support | 4,215.00 | 2,500.00 | |
| Utilities - Water,Gas,and Electricity | 2,158.00 | 1,250.00 | |
| CommunityHomeless and FamilySupport | 4,455.00 | 2,875.00 | |
| Sub-Total | 36,426.96 | 26,622.00 | |
| Total of Projects Not Considered by Grant Coverage and Financed by the Church |
62,254.96 | 28,503.43 | |
| Community Humanitarian Care | |||
| Daycare Participants Care: Clothingand Shoe Support | 16,500.00 | 14,500.00 | |
| CommunityYouth Club | 4,250.00 | 3,745.00 | |
| SupplementarySaturdaySchool - PrimarySchool Children | 4,789.00 | 4,015.00 | |
| Cash Disbursement on FamilyFood Support | 4,020.00 | 4,020.00 | |
| Sub-Total | 29,559.00 | 26,280.00 | |
| Total Community Funded by the Church, not by Grant | 91,813.96 | 54,783.43 |
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Accounts prepared and certified by: PMCT Chartered and Certified Accountants
HIGHWAY OF HOLINESS
Statement of Financial Activities for the Year Ended 31 October 2024
6.10 Trustees' Commitment – Trustees' Remuneration and Staffing Costs
No payments were made to any Trustees during the year in respect of their roles and responsibilities as Trustees. The total remuneration for the Office of Ministers was £27,296.00 for the accounting year 2023-24.
The organisation also employs four specialist staff members to support its operational and programme delivery. By statutory obligations, all employees are enrolled in stakeholder pension schemes.
The Trustees are fully committed to ensuring compliance with all applicable regulatory requirements. Where internal expertise is unavailable, the organisation seeks professional support and external consultancy as needed to address short- and medium-term operational challenges.
In addition to the above, other associated costs are incurred in the primary cost centres outlined throughout this report.
6.11 Reserve Policies 2023 - 24
| 2023- 24 | 2022- 23 | |
|---|---|---|
| Funds | ||
| Restricted Grants | 48,879 | 71,401 |
| Restricted Operational Emergency Reserve | 25,000 | 22,847 |
| Restricted Members'Donations for Building Project | 152,789 | 135,922 |
| Unrestricted Operational Reserve | 20,102 | 18,869 |
| General Performance Reserve for Core Church Operation | 15,000 | 5,000 |
| 261,769 | 254,038 |
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Accounts prepared and certified by: PMCT Chartered and Certified Accountants