2020-12-31-accounts - Inspirational Charismatic Church (House Of Prayer_

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Contents ofthe Finan	atements
for the I	December 2020
			Page
Reference and Administrative Details
Report ofthe Trustees		2	to	3
Independent Examiner's Report
Statement ofFinancial Activities
Balance Sheet
Notes to the Financial Statements		7	to	12
Detailed Statement ofFinancial Activities		13	to	14

TRUSTEES		Revd. Seth Mensah	Revd. Seth Mensah	Revd. Seth Mensah
		Alex Teinor
		Nana Marfo	Bonsu
		Kwabena 0	Bonsu
		Mrs Felicia Damoah
PRINCIPAL ADDRESS		171Hertford	Road
		Edmonton
		London
		N9 7EP
REGISTERED	CHARITY	1067726
NUMBER
INDEPENDENT	EXAMINER	Frank Jay &Co
		Chartered Certified Accountants
		89A Kingsland		High Street
		Dalston
		London
		ES2PB
BANKERS		Natwest Bank	Plc
		41 West Favell	Centre
		Northampton
		NN3 SJT

	Statement ofFin	Statement ofFin
	for the	ear ended 31 December 2020
			31.IX20	31.12.19
			Unrestricted		Total
		Notes	funds		fundsf
INCOME AND ENDOWMENTS FROM
Donations and legacies			335,094		386,953
Investment income			3,098		1,722
Total			338,192		388,675
EXPENDITURE ON
Charitable activities
Cost ofchurch activities and ministries			175,807		240,972
Support costs			9,906		3,326
Governance costs			45,009		52,957
Total			230,722		297,255
NET INCOME			107,470		91,420
RECONCILIATION	OF FUNDS
Total funds brought	forward		1,518,849	1,427,429
TOTAL FUNDS CARRIED FORWARD			1 626319	1	318849

		31.12.20	31.12.19
		Unrestricted	Total
		funds	funds
	Notes
FIXEDASSETS
Tangible assets		1,396,419	1,407,845
CURRENT ASSETS
Debtors	10	55,032	15,632
Cash at bank and in hand		321,740	263,232
		376,772	278,864
CREDITORS
Amounts falling due within one year		(2,446)	(3,059)
NET CURRENT ASSETS		374326	275,805
TOTAL ASSETSLESSCURRENT
LIABILITIES		1,770,745	1,683,650
CREDITORS
Amounts falling due after more than one year	12	(144,426)	(164,801)
NET ASSETS		I 626,319	1,518,849
FUNDS	14
Unrestricted funds:
General fund		1,626,319	1,518,849
TOTAL FUNDS		I 626,319	1,518849

2.	DONATIONS	AND	LEGACIES
					31.12.20	31.12.19
	Offerings				9,773	7,975
	Donations and tithes				128,132	158,182
	GiA aid				60,149	65,723
	Harlow branch	income			12,835	18,527
	Northampton	branch	income		21,950	23,115
	Luton branch	income			102355	113431
					335 094	386953
3.	INVESTMENT INCOME
					31.12.20	31.12.19 f
	Rents received				3,000	1,500
	Deposit account interest				98	222
					~3098	1,722
4.	CHARITABLE ACTIVITIES COSTS
					Support
				Direct	costs (see
				Costs	note 5)	Totals
	Cost ofchurch	activities and ministries		175,807		175,807
	Support costs				9,906	9,906
	Governance costs				45 009	45 009
				175,807	54.915	230 722
5.	SUPPORT COSTS
					Governance
				Finance	costs	Totals
						f
	Support costs			9,906		9,906
	Governance costs				~45 009	~45 009
				~9906	~45 009	~54 915

STAFFCOSTS
The average monthly	number ofemployees			during the year was as follows:
					31.12.20	31.12.19
Pastoral					3	3
No employees received		emoluments	in excess off60,000.
COMPARATIVES	FORTHE STATEMENT OFFINANCIAL ACTIVITIES
						Unrestricted
						fundsf
INCOME AND ENDOWMENTS			FROM
Donations and legacies						386,953
Investment income						1,722
Total						388,675
EXPENDITURE ON
Charitable activities
Costofchurch activities		and ministries				240,972
Support costs						3,326
Governance costs						52,957
Total						297,255
NET INCOME						91,420
RECONCILIATION	OF FUNDS
Total funds brought	forward					1,427,429
TOTAL FUNDS CARRIED FORWARD						1 518,849

	for the	rend d 31 Decem	ber 2020
9.	TANGIBLE FIXEDASSETS
		Freehold	Plant and	Motor
		property	machinery	vehicles	Totals f
	COST
	At 1 January 2020	1,471,79 l	169,97l	21,050	1,662,812
	Additions		4 892		4 892
	At 31 December 2020	I 471.791	174 863	21 050	1,667,704
	DEPRECIATION
	At I January 2020	84,382	149,535	21,050	254,967
	Charge for year	8,344	7974		16318
	At 31 December 2020	92,726	157509	21 050	271,285
	NET BOOKVALUE
	At 31 December 2020	I 379065	17354	-	I 396419
	At 31 December 2019	I 387409	20436	-	I 407,845
10.	DEBTORS:AMOUNTS FALLING DUE WITHIN ONE YEAR
				31.]2.20 f	31.12.19 f
	Members soA loans			46,800	8,000
	Prepayments			~8232	7,632
				~55 032	15,632
11.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
				31.12.20	31.12.19
					f
	Trade creditors			588	143
	Taxation and social security			1,458	1,525
	Other creditors			400	1,391
				2,446	3,059

	forthe earended I Decembe	forthe earended I Decembe	forthe earended I Decembe	forthe earended I Decembe	forthe earended I Decembe	r2020
12.	CREDITORS: AMOUNTS FALLING DUE AFTER MORE					THAN ONE	YEAR
							31.12.20	31.12.19
							f	f
	Bank loans (see note		13)				144426	164 801
13.	LOANS
	An analysis ofthe maturity of			loans is given below:
							31.12.20	31.]2.19 f
	Amounts falling due		in more than		five years:
	Repayable otherwise		than by instalments:
	Bank loans more 5 yrs non-inst						144,426	164,80I
14.	MOVEMENT IN FUNDS
							Net
							movement	At
						At 1.120	in funds f	31.12.20 f
	Unrestricted	funds
	General fund					I,518,849	107,470	1,626,3 I9
	TOTAL FUNDS					I 518,849	107,470	1,626319
	Net movement	in funds, included			in the above are as follows:
						Incoming	Resources	Movement
						I'esoUrces	expended f	in funds f
	Unrestricted	I'unds
	General fund					338,192	(230,722)	107,470
	TOTALFUNDS					338,192	~230,722)	107470
	Comparatives	for movement		in	funds
							Nct
							movement	At
						At 1.1.19	in funds	31.12.19
								f
	Unrestricted	funds
	General fund					1,427,429	91,420	I,SI8,849
	TOTAL FUNDS					I 427 429	91 420	I 518,849

	Ins	i tionalC	h rism	i	h	H seof ra er
		Detailed	Statem	n	in	i IA iv'i s
		for the	ear ended		I December 202
							31.12.20 f	31.]2.19 f
INCOME AND ENDOWMENTS
Donations and legacies
Offerings							9,773	7,975
Donations and tithes							128,132	158,182
GiA aid							60,149	65,723
Harlow branch income							12,835	18,527
Northampton branch income							21,950	23,115
Luton branch income							102,255	113,431
							335,094	386,953
Investment income
Rents received							3,000	1,500
Deposit account interest							98	222
							3098	1,722
Total incoming resources							338,192	388,675
EXPENDITURE
Charitable activities
Security costs							872	404
Repairs and maintenance							2,241	4,706
Rates and water							2,043	2,157
Insurance							1,713	2,010
Light and heat							4,152	4,887
Telephone							2,648	2,609
Postage and stationery							1,787	701
Donation and welfare							21,660	20,287
Cleaning and decoration							2,511	1,072
Children's and Youth ministry							2,348	3,780
Ghana branch costs							10,000	36,673
Harlow branch costs							6,369	17,070
Luton branch costs							72,702	59,120
Ministry and outreach							11,031	35,034
Northainpton branch costs							15,976	17,196
Women's ministry costs								3,500
Equipinent expensed							1,438	2,395
Depreciation oftangible	fixed assets						16316	18,684
							175,807	232,285
Support costs
Finance
Bank charges							2,085	3,326
Bank loan interest							7 821	8,666
							9,906	11,992