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2021-12-31-accounts

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2021

MINISTRY OF PRAISE PENTECOSTAL CHURCH

CHARITY REGISTRATION No: 1073397

Independent Examiners Ltd Unit 2 The Broadbridge Business Centre Delling Lane Bosham West Sussex PO18 8NF

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MINISTRY OF PRAISE PENTECOSTAL CHURCH

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CONTENTS
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Page 3 Legal and Administrative Information Page 4 Independent Examiner's Report to the Trustees Page 5 Trustees' Report Page 6 Statement of Financial Activities Page 7 Balance Sheet Pages 8 to 13 Notes to the Financial Statements

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MINISTRY OF PRAISE PENTECOSTAL CHURCH

LEGAL AND ADMINISTRATIVE INFORMATION

WORKING NAMES Ministry of Praise MOP CHARITY NUMBER 1073397 START OF FINANCIAL YEAR 1st January 2021 END OF FINANCIAL YEAR 31st December 2021 TRUSTEES AT 31ST DECEMBER 2021 M Thompson E W Gordon T Wilson (Chair) E Smith

The existing trustees appoint any new trustees following the provisions laid out in the organisation's governing instrument.

LEGAL STATUS

Unincorporated Charity

GOVERNING INSTRUMENT

Constitution adopted 9th March 1998 and amended 25th December 1998

OBJECTS

The advancement of the Christian Religion in accordance with the Statement of Beliefs. The relief of poverty of people in need in accordance with religious principles.

CORRESPONDENCE ADDRESS

35 Parkland Road London N22 6SU

PRIMARY BANKERS

Barclays Bank Plc 549 High Road Tottenham London N17 6SG

INDEPENDENT EXAMINER

Kim Gomes MAAT Independent Examiners Ltd Unit 2 The Broadbridge Business Centre Delling Lane Bosham West Sussex PO18 8NF

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INDEPENDENT EXAMINER'S REPORT ON THE ACCOUNTS

Report to the trustees/ members of Ministry or Praise on the accounts for the year ended 31st December 2021 set out on pages 6 to 13.

RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER

The charity's trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 and that an independent examination is needed.

It is my responsibility to:

BASIS OF INDEPENDENT EXAMINER'S STATEMENT

My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.

INDEPENDENT EXAMINER'S QUALIFIED STATEMENT

In connection with my examination, the following matters have come to my attention.

During my examination, I was made aware by the bookkeeper that some of the charity's expenses are untraceable. These unknown expenses totalled £1,023. This ongoing lack of records and documents within the charity which has lead to misunderstandings during past examinations. I understand the Trustees are eager to progress towards better accounting procedures. This will be achieved by maintaining full records of all digital and physical transactions and by improving efficiency at providing the required documents to the bookkeeper going forward. Further detail are provided in note 17.

No other matter's have come to my attention

  1. which gives me reasonable cause to believe that in, any material respect, the requirements:

  2. to keep accounting records in accordance with section 130 of the Charities Act; and

to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act.

have not been met; or

  1. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

…………………………………………

Kim Gomes MAAT Independent Examiners Ltd Unit 2 The Broadbridge Business Centre Delling Lane Bosham West Sussex PO18 8NF

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MINISTRY OF PRAISE PENTECOSTAL CHURCH

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31ST DECEMBER 2021

Notes
Income from:
Donations & Legacies
3a
Investment Income
3b
Other
3c
Total Income
Expenditure on:
Charitable Activities
4a
Governance Costs
4b
Total Expenditure
NET INCOME/(EXPENDITURE)
Total Funds Brought Forward
TOTAL CHARITY FUNDS CARRIED FORWARD		 Unrestricted
Restricted
TOTAL
TOTAL
Funds
Funds
2021
2020
£
£
£
£
35,753
-
35,753
32,191
-
-
-
-
22
-
22
165
35,775
-
35,775
32,356
14,438
-
14,438
31,975
930
-
930
1,617
15,368
-
15,368
33,592
20,407
-
20,407
(1,236)
297,232
-
297,232
298,468
317,639
-
317,639
297,232

Movements on all reserves and all recognised gains and losses are shown above. All of the organisation's operations are classed as continuing.

The notes on pages 8 to 13 form part of these financial statements.

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MINISTRY OF PRAISE PENTECOSTAL CHURCH

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2021

1. ACCOUNTING POLICIES

Basis of Preparation & Assessment of Going Concern

Basis of Preparation

The financial statements have been prepared under the historical cost convention and on the going concern basis. The financial statements have been in accordance with accounting standards and comply with Financial Reporting Standard 102 (FRS102); Statement of Recommended Practice: Accounting and Reporting by Charities (FRS102) and the Charities Act 2011. The Charity meets the definition of a public benefit entity under FRS102.

Going Concern

The trustees consider that there are no material uncertainties about the Charity’s ability to continue as a going concern.

Income

Recognition of Income

These are included in the Statement of Financial Activities (SOFA) when:

the charity becomes entitled to the resources;

the trustees are virtually certain they will receive the resources; and

the monetary value can be measured with sufficient reliability

Income with Related expenditure

Where income has related expenditure (as with fundraising or contract income) the income and related expenditure are reported gross in the SOFA.

Grants and Donations

Grants and Donations are only included in the SOFA when the charity has unconditional entitlement to the resources.

Tax Reclaims on Donations and Gifts

Income from tax reclaims are included in the SOFA during the same period as the gift to which they relate.

Contractual Income and Performance Related Grants

This is only included in the SOFA once the related goods or services has been delivered.

Gifts in Kind

Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised. Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or distributed by the charity. Gifts in kind for use by the charity are included in the SOFA as income receivable.

Donated Services and Facilities

These are only included in income (with an equivalent amount in expenditure) where the benefit to the charity is reasonably quantifiable, measurable and material. The value placed on these resources is the estimated value to the charity of the service or facility received.

Volunteer Help

The value of any voluntary help received is not included in the accounts but is described in the trustees' annual report.

Investment Income

This is included in the accounts when receivable.

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MINISTRY OF PRAISE PENTECOSTAL CHURCH

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31ST DECEMBER 2021

1. ACCOUNTING POLICIES (Continued)

Expenditure and Liabilities

Liability Recognition

Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources.

Governance Costs

Include costs of the preparation and examination of statutory accounts, the costs of the trustees meetings and cost of any legal advise to trustees on governance or constitutional matters.

Grants with Performance Conditions

Where the charity gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SOFA once the recipient of the grant has provided the specified service or output.

Grants Payable without Performance Conditions

These are only recognised in the accounts when a commitment has been made and there are no conditions to be met relating to a grant which remain in control of the charity.

Support Costs

Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of the resources, eg. allocating property cots by floor areas, or per capita, staff costs by the time spent and other costs by their usage.

Changes in Accounting Policies and Previous Accounts

There has been no change to the accounting policies (variation rules and methods of accounting) since last year, and no changes to the previous accounts.

Fixed Assets

These are capitalised if they can be used for more than one year, and cost at least £500. They are valued at cost or, if gifted, at the value to the charity on receipt.

Depreciation Expenses

Depreciation is calculated at a rate to write off the cost of tangible fixed assets on a reducing balance over their estimated useful lives. The rates applied per annum are as follows:

num are as follows:
Building Improvements 25%
Equipment 25%
Motor Vehicles 25%

No depreciation is charged to freehold property as the property is maintained to such a standard that the estimated residual value is not less than cost.

2. TANGIBLE FIXED ASSETS

Cost
01-Jan-21
Additions
Cost at
31-Dec-21
Depreciation
01-Jan-21
Charge
Depreciation at
31-Dec-21
Net Book Value
31-Dec-21
Net Book Value
31-Dec-20		 Land &
Buildings
Motor
General
Total
Buildings
Improvements
Vehicle
Equipment
2021
£
£
£
£
£
82,643
92,173
20,000
23,099
217,915
-
-
-
-
-
82,643
92,173
20,000
23,099
217,915
-
89,983
19,800
22,395
132,178
-
548
50
176
774
-
90,531
19,850
22,571
132,952
82,643
1,642
150
528
84,963
82,643
2,190
200
704
85,737

The annual commitments under non-cancelling operating leases and capital commitments are as follows:

31st December 2021: None

31st December 2020: None

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MINISTRY OF PRAISE PENTECOSTAL CHURCH

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31ST DECEMBER 2021

3. INCOME

Notes
a) Donations & Legacies
Gifts & Donations
Gift Aid Tax Recoverable		 Unrestricted
Restricted
TOTAL
TOTAL
Funds
Funds
2021
2020
£
£
£
£
31,120
-
31,120
19,920
4,633
-
4,633
12,271
35,753
-
35,753
32,191

b) Investment Income

Interest Received

c) Other

Hire of Church Other Income Loans Paid Back

- - - -
- - - -
- - - -
22 - 22 165
22 - 22 165

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MINISTRY OF PRAISE PENTECOSTAL CHURCH

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2021

4. EXPENDITURE

Notes
a) Charitable Activities
Books & Publications
Bank Charges
Office Supplies
Cleaning Costs
Depreciation Expenses
Christmas Costs
Foodbank
Equipment Costs
Gifts & Donations
Giving - Youth
Giving - Individual
Insurance Costs
Licenses & Subscriptions
Motor Vehicle Expenses
Multi Media Costs
Music Costs
Outreach Costs
Hall Hire
Repairs & Maintenance
Funeral
Sundry Expenses
Unknown Expenses
Telephone Costs
Travel & Hospitality
Communion
Business Repairs
Training Costs
Utility Costs
Parking
b) Governance Costs
Legal & Professional Fees
Independent Examiner's Fee		 Unrestricted
Restricted
TOTAL
TOTAL
Funds
Funds
2021
2020
£
£
£
£
145
-
145
140
15
-
15
-
-
-
-
38
100
-
100
441
774
-
774
1,032
810
-
810
-
94
-
94
-
154
-
154
-
490
-
490
560
-
-
-
500
1,000
-
1,000
100
3,227
-
3,227
-
159
-
159
312
674
-
674
2,926
-
-
-
-
2,103
-
2,103
1,039
263
-
263
98
100
-
100
-
120
-
120
12,175
-
-
-
1,000
-
-
-
7,679
1,023
-
1,023
-
586
-
586
568
10
-
10
151
-
-
-
19
500
-
500
-
-
-
-
-
1,832
-
1,832
3,197
258
-
258
-
14,438
-
14,438
31,975
-
-
-
717
930
-
930
900
930
-
930
1,617

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MINISTRY OF PRAISE PENTECOSTAL CHURCH

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31ST DECEMBER 2021

5. RESTRICTED FUNDS

The charity held no restricted funds this or the previous years.

6. CASH AT BANK AND IN HAND

6. CASH AT BANK AND IN HAND
Current Account
Savings Account
Petty Cash		 Unrestricted
Restricted
Total
Total
Fund
Fund
31-Dec-21
31-Dec-20
£
£
£
£
83,254
-
83,254
61,142
151,136
-
151,136
151,136
115
-
115
115
234,506
-
234,506
212,393

7. CREDITORS FALLING DUE WITHIN ONE YEAR

Independent Examiner's Fee Unrestricted
Restricted
Total
Total
Fund
Fund
31-Dec-21
31-Dec-20
£
£
£
£
1,830
-
1,830
900
1,830
-
1,830
900

8. DEBTORS

Loans Unrestricted
Restricted
Total
Total
Fund
Fund
31-Dec-21
31-Dec-20
£
£
£
£
-
-
-
8,250
-
-
-
8,250

12

MINISTRY OF PRAISE PENTECOSTAL CHURCH

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2021

9. STAFF COSTS AND NUMBERS

The Charity employed no staff during this or the previous financial period.

10. TRUSTEES AND OTHER RELATED PARTIES

No payments were made to trustees or any persons connected with them during this financial period. No material transaction took place between the organisation and a trustee or any person connected with them.

11. RISK ASSESSMENT

The Trustees actively review the major risks which the charity faces on a regular basis and believe that maintaining the free reserves stated, combined with the annual review of the controls over key financial systems carried out on an annual basis will provide sufficient resources in the event of adverse conditions. The trustees have also examined other operational and business risks which they face and confirm that they have established systems to mitigate the significant risks.

12. RESERVES POLICY

The Trustees have considered the level of reserves they wish to retain, appropriate to the charity's needs. This is based on the charity's size and the level of financial commitments held. The trustees aim to ensure the charity will be able to continue to fulfil its charitable objectives even if there is a temporary shortfall in income or unexpected expenditure. The trustees will endeavour not to set aside funds unnecessarily.

13. PUBLIC BENEFIT

The charity acknowledges its requirement to demonstrate clearly that it must have charitable purposes or ‘aims’ that are for the public benefit. Details of how the charity has achieved this are provided in the trustees report. The trustees confirm that they have paid due regard to the Charity Commission guidance on public benefit before deciding what activities the charity should undertake.

14. INDEPENDENT EXAMINER'S NOTE

The charity was unable to supply all requested invoices or receipts relating to certain expenditure types for the Independent Examination, therefore the Examiner was unable to complete their vouching and verification procedure in full. The underlying financial records supplied do not provide sufficient detail of the nature of these unknown expenses and therefore it is difficult to be sure of the accuracy of the nature of those transactions. It has been necessary to assume that all invoices have been settled.

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