2022-12-31-accounts - Inspirational Charismatic Church (House Of Prayer_

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		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
	Alex Teinor
	Nana Marfo Bonsu
	Kwabena 0Bonsu
	Mrs Felicia Damoah (Resigned	on 7/01/2023)
	Ms Emelia Otuo-Acheampong	(Appointed	on 7/01/2023)
PRINCIPAL ADDRESS	171 Hertford Road
	Edmonton
	London
	N9 7EP
REGISTERED CHARITY	1067726
NUMBER
INDEPENDENT EXAMINER	Frank Jay &Co
	Chartered Certified Accountants
	89A Kingsland High Street
	Dalston
	London
	ES2PB

		for th	e ear ended 31 Decembe	r 2022
				31.12.22	31.12.21
				Unrestricted	Total
				funds	funds
			Notes
INCOME	AND ENDOWMENTS FROM
Donations	and legacies			370,468	367,421
Investment	income			1,742	1,511
Total				~372 10	368932
EXPENDITURE ON
Charitable	activities
Cost ofchurch activities and ministries				246,956	193,781
Support costs				2,875	5,055
Governance	costs			56,236	54,498
Total				306067	253,334
NET INCOME				66,143	115,598
RECONCILIATION OF FUNDS
Total funds	brought	forward		1,741,917	1,626,319
TOTAL FUNDS CARRIED FORWARD				1,808,060	1 741917

	Balance Sheet 31December 2022
		31.12.22	31.12.21
		Unrestricted	Total
		funds	funds
	Notes
FIXEDASSETS
Tangible assets		1,388,155	1,396,915
CURRENT ASSETS
Debtors	10	15,624	63,232
Cash at bank and in hand		412,106	338032
		427,730	401,264
CREDITORS
Amounts falling due within one year		(7,825)	(6,262)
NET CURRENT ASSETS		419,903	396002
TOTAL ASSETSLESSCURRENT
LIABILITIES		1,808,060	1,791,917
CREDITORS
Amounts falling due after more than one year	12		(50,000)
NET ASSETS		1 808,060	1,741917
FUNDS	14
Unrestricted funds:
General fund		1 808 060	1 741 917
TOTAL FUNDS		1,808,060	1 741 917

2.	DONATIONS	AND LEGACIES
				31.12.22	31.12.21
	Offerings			12,695	13,014
	Donations and tithes			110,155	131,372
	Giit aid			55,183	52,849
	Harlow branch income			31,585	29,120
	Northampton	branch income		20,261	22,733
	Luton branch	income		140,589	118333
				370468	367,421
3.	INVESTMENT INCOME
				31.12.22	31.12.21
	Rents received			1,500	1,500
	Deposit account interest			242	11
				~1742
4.	CHARITABLE ACTIVITIES COSTS
				Support
			Direct	costs (see
			Costs	note 5)	Totals
	Cost ofchurch	activities and ministries	246,956		246,956
	Support costs			2,875	2,875
	Governance costs			56236	56236
			246,956	59III	306,067
5.	SUPPORT COSTS
				Governance
			Finance	costs	Totals
	Support costs		2,875		2,875
	Governance costs			56,236	56,236
			2,875	56,236	~59 111

					31.12.22	31.12.21
Pastoral					3	4
No employees received			emoluments	in excess off60,000.
COMPARATIVES	FOR THE STATEMENT OF FINANCIAL ACTIVITIES
						Unrestricted
						funds
INCOME AND ENDOWMENTS				FROM
Donations and legacies						367,421
Investment income						1 311
Total						368932
EXPENDITURE ON
Charitable activities
Costofchurch activities			and ministries			193,781
Support costs						5,055
Governance costs						34498
Total						253,334
NET INCOME						115,598
RECONCILIATION		OF FUNDS
Total funds brought	forward					1,626,319
TOTAL FUNDS CARRIED FORWARD						1,741 917

	for the e	ar ended 31Decem	ber 2022
9.	TANGIBLE FIXEDASSETS
		Freehold	Plant and	Motor
		property	machinery	vehicles	Totals
	COST
	At 1 January 2022	1,471,791	193,363	21,050	1,686,204
	Additions		8,501		8,501
	At 31 December 2022	1,471,791	201 864	21,050	1 694,705
	DEPRECIATION
	At 1 January 2022	101,069	167,170	21,050	289,289
	Charge for year	8 343	8,918		17261
	At 31 December 2022	109,412	176,088	21 050	306,550
	NET BOOK VALUE
	At 31 December 2022	1,362,379	25 776		1,388,155
	At 31 December 2021	1,370722	26 193	-	1,396915
10.	DEBTORS:AMOUNTS FALLING DUE WITHIN ONE YEAR
				31.12.22	31.12.21
	Members soft loans			1,800	50,000
	Accrued income			1,500	1,500
	Prepayments			~12324	11,732
				15,624	63,232
11.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
				31.12.22	31.12.21
	Trade creditors			6,555	5,302
	Taxation and social security			470	160
	Other creditors			800	800
				~7825	6+62

				for the ear ended 31Decembe	for the ear ended 31Decembe	r 2022
12.	CREDITORS: AMOUNTS			FALLING DUE AFTER MORE		THAN ONE	YEAR
							31.12.22	31.12.21
	Bank loans (see note		13)					50,000
13.	LOANS
	An analysis ofthe maturity ofloans is given below;
							31.12.22	31.12.21
	Amounts falling due		in more	than	five years:
	Repayable otherwise		than by	instalments:
	Bank loans more 5 yrs non-inst							50,000
14.	MOVEMENT IN FUNDS
							Net
							movement	At
						At 1.1.22	in funds	31.12.22
	Unrestricted	funds
	General fund					1,741,917	66,143	1,808,060
	TOTAL FUNDS					1 741 917	66,143	1,808,060
	Net movement	in funds, included			in the above are as follows:
						Incoming	Resources	Movement
						resources	expended	in funds
						f,
	Unrestricted	funds
	General fund					372,210	(306,067)	66,143
	TOTALFUNDS					372,210	i306,067)	66,143
	Comparatives	for movement		in	funds
							Net
							movement	At
						At 1.1.21	in funds	31.12.21
							f,
	Unrestricted	funds
	General fund					1,626,319	115,598	1,741,917
	TOTAL FUNDS					1,626,319	115598	1 741917

for the ear ended 31	December 2022
	31.12.22	31.12.21
INCOME AND ENDOWMENTS
Donations and legacies
Offerings	12,695	13,014
Donations and tithes	110,155	131,372
Gift aid	55,183	52,849
Harlow branch income	31,585	29,120
Northampton branch income	20,261	22,733
Luton branch income	140,589	118333
	370,468	367,421
Investment income
Rents received	1,500	1,500
Deposit account interest	242	11
	1,742	1 511
Total incoming resources	372,210	368,932
EXPENDITURE
Charitable activities
Security costs	480	925
Repairs and maintenance	6,773	1,916
Rates and water	2,436	1,889
Insurance	1,781	1,795
Light and heat	3323	5,114
Telephone	2,354	2,448
Postage and stationery	1,835	1,391
Donation and welfare	21,400	19,265
Cleaning and decoration	1,003	1,159
Children's and Youth ministry	2,632	1,428
Ghana branch costs	21,399	18,363
Harlow branch costs	30,930	20,770
Luton branch costs	77,118	57,491
Ministry and outreach	28,491	23,775
Northampton branch costs	20,100	16,636
Women's ministry costs	1,950
Equipment expensed	5,690	1,010
Depreciation oftangible fixed assets	17261	18,005
	246,956	193,380
Support costs
Finance
Bank charges	2,875	2,489
Bank loan interest		2566
	2,875	5,055

ational C	harismatic Church House of r
Detailed	Statement ofFinancial Activities
for the	ear ended 31December 2022