## Central Pentecostal Church
Report and Accounts Year ended 31 December 2022
1 Lamb's Passage, London EC1Y 8AB www.stewardship.org.uk
## **CENTRAL PENTECOSTAL CHURCH**
## **LEGAL AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 DECEMBER 2022**
ADDRESS FOR CORRESPONDENCE Central Pentecostal Church Harrow Road London W2 1JP GOVERNING DOCUMENT Constitution adopted May 1993, amended September 2011 CHARITY REGISTRATION NUMBER 1054400 TRUSTEES RESPONSIBLE FOR William Morson MANAGING THE CHARITY Uche Joyce Onyeador-Agomoh Ann Roberts Lynda Roberts BANKERS Lloyds Bank INDEPENDENT EXAMINER SH Mathews FCA Stewardship 1 Lamb's Passage LONDON EC1Y 8AB
## **INDEX**
Page 1 Legal and Administrative Details Pages 2-3 Trustees' Report Page 4 Independent Examiner's Report Page 5 Receipts and Payments Account Page 6 Statement of Assets & Liabilities Pages 7-8 Notes to the Accounts
Page 1
## **CENTRAL PENTECOSTAL CHURCH**
## **REPORT OF THE TRUSTEES**
## **FOR THE YEAR ENDED 31 DECEMBER 2022**
The Trustees have pleasure in submitting the Report and Accounts for the year ended 31 December 2022.
## **Objects of the charity**
The charity, which is a church, is governed by a constitution and is constituted as a trust.
The purpose of the charity, in our case a Church, is for the benefit of its members and of the public. The promotion and advancement of the Christian faith is at the forefront of our ministry through the proclamation of the Gospel of our Lord Jesus Christ. This is relayed through the preached sermon from the Bible in accordance with the Statement of Fundamental Truths of Assemblies of God in Great Britain and Northern Ireland as approved by its General Council.
The church aims to relieve sickness and financial hardship and to promote and preserve continual good health by the provision of funds, goods or services where needed.
We are a lively, multicultural church family, based in central London, Paddington. We seek to establish the kingdom of God in our city by seeing lives transformed through the sharing of the Gospel of Jesus Christ and His saving work on the cross.
The Bible describes the Church as a converted community of people who meet regularly to worship God together, to hear the preached sermon from the Bible, observe baptism, communion and infant dedication as well as to participate in community events such as marriages and funerals when they occur. This is an indication to the public of the necessity of the local church. We pray for our government, police and human institutions. Our church members are united by their faith in the Lord Jesus Christ which is accompanied by a change of heart and lifestyle. We encourage each other to share God's love with others and glorify Him in the process.
## **Government**
The policy and operating decisions of the Church rest with the Trustees who meet periodically to monitor the activities of the Church. Central Pentecostal Church has formulated a Safeguarding Policy with the inclusion of Child Protection. We continue our excellent record of ensuring the safety of all vulnerable adults and children under our care.
Trustees are selected by the Church Council based on their commitment to the Church, their experience and relevant skills as it relates to the function of the Church Council.
## **Review of Activities**
The church continued its usual activities, which included our communion service on Sunday mornings, which is open to the public and visitors are always welcomed. This year we had the pleasure of meeting and ministering to many families and individuals from many different countries who had found our church through our continually developing website. On Wednesdays, our Bible studies are held online allowing a greater number of our congregation to participate. Other activities included prayer meetings, ladies and men’s gatherings, youth events and personal evangelism.
We continued our links with Westminster City Council by allowing them to use our church building as polling station during the local elections.
The church is grateful for the commitment of its members who continue to attend, support the church financially and participate in the church’s activities, whether these have been online or in our building.
In 2023 we plan to implement a number of new additions to the church building. Firstly the church building whilst in a central location, is not recognised as a traditional church building due to its lack of signage and structure. Therefore we are planning to invest in signage to identify us as a church more clearly. This will involve creating a notice board at the front of the church building detailing our activities and multiple outward facing external signage with our church name in a more visible location. We have previously indicated the purchase of more equipment. This will include upgrading our PA system. We also plan to expand the church office by using designated funds towards the cost of church laptops, printers and other office furniture to enable our church members to work effectively on church tasks onsite. Our kitchen will also be decorated with new storage units.
Page 2
In planning the activities the Trustees have applied the guidance on public benefit issued by the Charity Commission.
## **Financial review**
Donations and other income for the year began to increase due to a greater number of the congregation attending regularly and its members being able to donate in person. There has also been an increased level of investment income. Subsequent to the year end our periodic claim for Gift Aid has been received amounting to just over £20,000.
It is important to mention that the Church does not solicit funds from the general public but depends solely on the faithful and generous commitment of its members. The sole public funds we receive are the proceeds from the Gift Aid.
The church has continued its support of Premier Christian Radio through its annual donation and also been able to support other ministries; details of which are in Note 3 to the accounts.
We expect that in 2023 the finances of the church will continue to improve as the church congregation grows and activities increase in the church building.
## **Reserves policy**
CPC’s reserves plan has been updated with fund allocations actioned and those that have been set aside for future enhancements. The Church’s Trustees understand that they are required to indicate the steps that are being taken to ensure a more productive use of their reserves. Therefore, this year, the Trustees have met regularly to discuss how best to utilise the Church’s surplus funds.
As reported last year, our investment in Green Pastures proved to be fruitful not only for the return that the Church received but also massively impacted the homeless community who the charity is centred upon. The Church Trustees have decided therefore to reinvest £150,000 in Green Pastures. The Trustees have decided to additionally invest £100,000 in Green Pastures making it a total of £250,000 invested in that charity. We believe our investment in Green Pastures is a solid investment as it is a long-established and reputable company of 24 years with many other investors, therefore this is low-risk investment. Whilst our funds would not be accessible for up to one year, our reserves allow us to cover any unforeseen costs.
## **Responsibilities of trustees**
Charity law requires us as Trustees to prepare financial statements for each accounting year which record the receipts and payments of the Church for the year. Our Treasurer ensures that this is done and this is monitored closely by the Trustees.
Additionally we are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Church and enable us to ensure that the financial statements comply with the Charities Act 2011.
We have taken all necessary precautions to safeguard the assets of the Church and have taken reasonable steps to prevent fraud or any other irregularities.
## **Approval**
This report was approved by the trustees and signed on their behalf by:
## **William Morson**
____________________________ Pastor William Morson
Date: 24 September 2023
Page 3
## **INDEPENDENT EXAMINER'S REPORT**
## **TO THE TRUSTEES OF**
## **CENTRAL PENTECOSTAL CHURCH**
I report to the trustees on my examination of the accounts of Central Pentecostal Church ('the charity') for the year ended 31 December 2022 on pages 5 to 8 following.
## **Responsibilities and basis of report**
As the trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the 2011 Act’).
I report in respect of my examination of the charity’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **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 accordance with section 130 of the 2011 Act; or 2. the accounts do not accord with the accounting records.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached.
## **S H Mathews**
SH Mathews FCA
Stewardship 1 Lamb's Passage LONDON EC1Y 8AB
Date: 5 October 2023
## **CENTRAL PENTECOSTAL CHURCH**
## **RECEIPTS AND PAYMENTS ACCOUNT**
## **FOR THE YEAR ENDED 31 DECEMBER 2022**
|Notes
**_Income receipts_**
Donations
Gift aid receipts
Investment income
**_Total receipts_**
**_Payments_**
2
3
**_Total payments_**
Transfers between funds
5
**Net movement in funds**
Cash funds as at last year end
**Cash funds at this year end**
A
Net
of
receipts
/
(payments)
before
transfers
Grants
paid
in
relation
to
charitable
activities undertaken by others
Payments
in
relation
to
charitable
activities undertaken directly
Purchase of investments||General
Designated
Funds
Funds
£
£
32,191
-
-
-
6,099
-
38,290
-
33,754
-
635
5,800
34,389
5,800
-
-
-
34,389
5,800
3,901
(5,800)
10,200
(10,200)
14,101
(16,000)
41,019
130,321
55,120
114,321
Unrestricted Funds|Restricted
Funds
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-|Total
2022
£
32,191
-
6,099
38,290
33,754
6,435
40,189
-
-
40,189
(1,899)
-
(1,899)
171,340
169,441|Total
2021
£|
|---|---|---|---|---|---|
|||General
Funds
£
32,191
-
6,099
38,290
33,754
635
34,389
-
-
34,389
3,901
10,200
14,101
41,019
55,120||||
||||||20,738
-
3,391|
||||||24,129|
||||||38,003
1,284|
||||||39,287|
||||||150,000|
||||||150,000|
|||||||
||||||189,287|
||||||(165,158)
-|
||||||(165,158)
336,498|
||||||171,340|
The notes on pages 7 - 8 form part of these accounts.
Page 5
## **CENTRAL PENTECOSTAL CHURCH**
## **STATEMENT OF ASSETS AND LIABILITIES FOR THE YEAR ENDED 31 DECEMBER 2022**
|General
Designated
funds
funds
£
£
**A Cash funds**
Cash at bank with immediate access
55,120
114,321
Notice deposits
**55,120**
**114,321**
**B Other monetary assets**
Gift aid due to charity
17,724
-
**17,724**
**-**
**C Liabilities**
**Falling due within one year:**
Outstanding service charge
-
-
Fee for accounts preparation 2021
570
-
Fee for accounts preparation & examination 2022
780
-
**1,350**
**-**
Unrestricted Funds|Restricted
funds
£
-
-
**-**
-
**-**
-
-
-
**-**|Total
2022
£
169,441
-
**169,441**
17,724
**17,724**
-
570
780
**1,350**|Total
2021
£|
|---|---|---|---|
||||20,873
150,467|
||||**171,340**|
||||5,654|
||||**5,654**|
||||50,000
570
-|
||||**50,570**|
The estimated amount outstanding for service charges has been reduced to zero given the likelihood of such charges being levied is now assessed as negligible.
|**D Assets retained for charity's own use**
Contents and equipment|Value
2022
£
35,000
**35,000**|Value
2021
£|
|---|---|---|
|||27,453|
|||**27,453**|
The trustees have used insurance values as the trustees are unable to reliably estimate current values; insurance values may differ materially from current values.
The freehold property owned by the church was been exchanged for a 999 year lease in the newly completed building built by Westminster Council on its original site.
## **E Investment assets**
|Ethical investment|2022
£
150,000
150,000|2021
£|
|---|---|---|
|||150,000|
|||150,000|
The investment is for a period of one year, ending May 2022. As noted in the Trustees report, this investment has been increased in 2023 by a further £100,000 to £250,000.
The accounts were approved by the trustees and signed on their behalf
## by **William Morson**
date: 24 September 2023
_____________________________
Pastor William Morson
The notes on pages 7 - 8 form part of these accounts.
Page 6
## **CENTRAL PENTECOSTAL CHURCH**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 31 DECEMBER 2022**
## **1 Accounting policies**
The accounts have been prepared on a receipts and payments basis and comprise a statement that shows the charity's receipts and payments, a statement that summarises the charity's assets and liabilities and related notes. The accountancy profession have determined that only accounts prepared in accordance with applicable accounting standards present a 'true and fair' view and, as these receipts and payments accounts have not (and cannot) be prepared in accordance with accounting standards, these accounts do not present (and are not intended to present) a 'true and fair' view of the charity's financial activities and state of affairs.
General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. Restricted funds are donations which are to be used in accordance with specific restrictions imposed by donors; they include donations received from appeals for specific activities or projects.
|**2**
**Payments in relation to charitable activities undertaken directly**
Church worker costs (Note 4)
Utilities
Repairs, maintenance and minor equipment
Web hosting and internet
Office and admin resources
Ministry & Mission
Insurance
Music
Assemblies of God contribution
Miscellaneous costs
Governance
Small items
**3**
**Grants and gifts paid to others**
Organisations:
Premier Radio
Christian Solidarity Worldwide [CSW]
Caring for Life
Care for the Family
Great Ormond St Hospital
Stand By Me (Helping needy kids)
Organisations < £1,000
Individuals||Unrestrict|Designated
funds
£
-
-
-
-
-
-
-
-
-
-
-
-
-
1,800
1,000
1,000
1,000
1,000
-
-
5,800
ed Funds|Restricted
Funds
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-|Total
2022
£
27,669
2,190
372
626
206
240
802
246
250
964
-
188
33,754
600
1,800
1,000
1,000
1,000
1,000
35
-
6,435|Total
2021
£|
|---|---|---|---|---|---|---|
|||General
funds
£
27,669
2,190
372
626
206
240
802
246
250
964
-
188
33,754
600
-
-
-
-
-
35
-
635|||||
|||||||28,945
2,200
2,912
554
15
135
355
235
600
1,153
899
-|
|||||||38,003|
|||||||1,200
-
-
-
-
-
84
-|
|||||||1,284|
## **4 Transactions with related parties**
William Morson served as a church leader and was paid £18,000 [2021: £18,000] for serving in that capacity, not for serving as a trustee; these payments are permitted by the charity's governing document.
No payments were made to any other trustees or persons related to them, except for reimbursement of expenses paid out on behalf of the charity.
Page 7
## **CENTRAL PENTECOSTAL CHURCH**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 31 DECEMBER 2022**
|**5**
**Movement of funds**
_General funds_
_Designated funds_
Mission fund
Investment fund
Youth ministry
Future employment
Property and equipment
_Restricted funds_
Total funds|Opening
balance
£
41,019
6,000
-
10,000
52,000
62,321
171,340
-
171,340|Receipts
£
38,290
-
-
-
-
-
38,290
-
38,290|Payments
£
(34,389)
(5,800)
-
-
-
-
(40,189)
-
(40,189)|Transfers
£
10,200
(200)
-
(10,000)
-
-
-
-
-|Closing
balance
£|
|---|---|---|---|---|---|
||||||55,120
-
-
-
52,000
62,321|
||||||169,441|
|||||||
||||||-|
|||||||
||||||169,441|
The Mission fund relates to funds set aside to grant to charities with similar charitable aims and purposes. These funds will be paid out after the year end.
The Investment fund was a plan to invest in a charity with similar charitable aims and purposes and this has now been invested into Green Pastures, on an annual basis.
The funds set aside for children's and young peoples' ministry was for the purpose of purchasing resources such as furniture, to store equipment and organise spaces for activities, and to invest in a ministry team. To date, a team has not yet been established and so this has been closed and the funds transferred back for general use.
The funds designated for Future employment are to cover the likely cost of employment in the next 5 years.
The Property and equipment funds are to cover the expected costs of refurbishing the new building including expected backdated costs. Further expenditure is expected during 2023.
Page 8