ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2022
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
CONTENTS
Page 3 Legal and Administrative Information Pages 4 to 5 Trustees' Report Page 6 Independent Examiner's Report to the Trustees Page 7 Statement of Financial Activities Page 8 Balance Sheet Pages 9 to 14 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 2022 END OF FINANCIAL YEAR 31st December 2022 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 set out in the schedule hereto. 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 Lomax Pavey 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
TRUSTEES REPORT FOR THE YEAR ENDED 31ST DECEMBER 2022
The trustees present their report on the accounts of the Ministry of Praise for the year ended 31st December 2022.
Structure, Governance and Management
Ministry of Praise is a registered charity with the Charity Commission. It is managed by its trustees.
New trustees are recommended and appointed by the existing trustees in accordance with the charity’s constitution.
All the trustees have been briefed on the legal set up of the charity and its constitution and are aware of their obligations and responsibilities through Charity Commission publications.
Objectives and Activities
The objects of the charity are:
- The advancement of the Christian religion in accordance with the statement of beliefs set out in the schedule hereto. The relief of poverty of people in need in accordance with religious principles.
The charity will engage in activities to achieve these objectives. These include making the charity’s premises available, free or at a charge, to organisations whose activities help meet the charity’s objectives. The trustees have considered the guidance issued by the Charity Commission on public benefit and are firmly of the view that all its objectives and activities are for the public benefit.
Achievements and Performance
After the first year of being established, the second year 2022 was a year of consolidation for the charity, building on the previous year’s accomplishments and adding a few more activities. The premises are used two days a week by the Bridge of Hope Foodbank, 2 days a week by Community Cookup and 2 days a week Ministry of Praise Warm Welcome throughout this period as the distribution and ad-ministrative centre. During cold periods we hand out sleeping bags, warm clothing and toiletries. We have run three movie nights where we gathered people from our local community through creating a safe, inclusive, and friendly environment where people from our local community could build connections, talk about and address issues of importance. In association with InKind Direct we have helped address period poverty by distributing sanitaryware for females in our local community in Ghana and Jamaica, We have held a Christmas party for our local community. We have invited Community Cook up to use the building to provide food and a warm space to the homeless for 8 hours per week.
Financial Review
The charity was largely funded in the period by donations.
Future Plans
The trustees will continue to pursue opportunities to use the premises in furtherance of the charity’s objectives, working in partnership with Bridge of Hope foodbank and Community Cookup.
Risk Assessment
The trustees have identified the major risks to which they believe the charity is exposed and systems have been established to minimise these risks. The risks are formally reviewed, as appropriate, at each trustees’ meeting. The principal risks relate to the building and to the activities carried out in the building.
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.
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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 2022 set out on pages 7 to 14.
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:
-
examine the accounts under section 145 of the Charities Act,
to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act, and
- to state whether particular matters have come to my attention.
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 has also 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 required documents to the bookkeeper going forward. Further detail are provided in note 17.
No other matter's have come to my attention
-
which gives me reasonable cause to believe that in, any material respect, the requirements:
-
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
- to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
……………………………………………………………… Lomax Pavey Independent Examiners Ltd Unit 2 The Broadbridge Business Centre Delling Lane Bosham West Sussex PO18 8NF
30th October 2023
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MINISTRY OF PRAISE PENTECOSTAL CHURCH
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2022
| Notes INCOME Donations & Legacies 3 Total Income EXPENDITURE Charitable Activities 4 Total Expenditure NET INCOME/(EXPENDITURE) Total Funds Brought Forward Opening Balance Adjustment TOTAL CHARITY FUNDS CARRIED FORWARD |
Unrestricted Restricted TOTAL TOTAL Funds Funds 2022 2021 £ £ £ £ 52,484 - 52,484 35,775 |
|---|---|
| 52,484 - 52,484 35,775 |
|
| 40,268 - 40,268 15,368 |
|
| 40,268 - 40,268 15,368 |
|
| 12,214 - 12,214 20,407 317,817 - 317,817 297,232 - - - 179 |
|
| 330,031 - 330,031 317,817 |
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 9 to 14 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 2022
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 2022
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, e.g. 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:
| ollows: | |
|---|---|
| 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-22 Additions Cost at 31-Dec-22 Depreciation 01-Jan-22 Charge Depreciation at 31-Dec-22 Net Book Value 31-Dec-22 Net Book Value 31-Dec-21 |
Land & Buildings Motor General Total Buildings Improvements Vehicle Equipment 2022 £ £ £ £ £ 82,643 92,173 20,000 23,099 217,915 - - - - - |
|---|---|
| 82,643 92,173 20,000 23,099 217,915 |
|
| - 90,531 19,850 22,571 132,952 - 411 38 132 580 |
|
| - 90,942 19,888 22,703 133,532 |
|
| 82,643 1,232 113 396 84,383 |
|
| 82,643 1,642 150 528 84,963 |
The annual commitments under non-cancelling operating leases and capital commitments are as follows:
31st December 2022: None
31st December 2021: None
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MINISTRY OF PRAISE PENTECOSTAL CHURCH
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2022
3. INCOME
| Notes a) Donations & Legacies Gifts & Donations Gift Aid Tax Recoverable Other Primary Income Bank Interest Sundry Income |
Unrestricted Restricted TOTAL TOTAL Funds Funds 2022 2021 £ £ £ £ 40,596 - 40,596 31,120 11,586 - 11,586 4,633 150 - 150 22 146 - 146 - 6 - 6 - |
|---|---|
| 52,484 - 52,484 35,775 |
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MINISTRY OF PRAISE PENTECOSTAL CHURCH
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2022
4. EXPENDITURE
| Notes Alarm Building Repairs & Maintenance Church/Office Supplies Advertising Costs Certificates Cleaning Costs Communion Website Costs Christmas Costs Foodbank Charitable Contributions Gifts Giving - Youth Giving - Individual Giving Compassionate Gardening Costs Fire Safety Equipment Hall Hire Insurance Motor Vehicle Expenses (mini bus) Funeral Motor Costs Travel Costs Music Costs Music Equipment Costs Music Equipment Repairs Utility Costs Castle Water Electricity Gas Rubbish & Recycling TV Licence Telephone Cost Books & Publications Bank Charges Signage Legal & Professional Fees Independent Examiner's Fee Postage & Stationary Unknown Expenses Outreach Costs Depreciation Expenses Pastor's Fuel Expenses Minibus & Guest Parking Expenses |
Unrestricted Restricted TOTAL TOTAL Funds Funds 2022 2021 £ £ £ £ 5,165 - 5,165 - 1,768 - 1,768 120 95 - 95 - 60 - 60 - 15 - 15 - 320 - 320 100 201 - 201 - 168 - 168 - 880 - 880 810 36 - 36 94 560 - 560 490 498 - 498 - 600 - 600 - - - - 1,000 426 - 426 - 148 - 148 - 128 - 128 - 200 - 200 100 2,710 - 2,710 3,227 1,186 - 1,186 1,432 2,180 - 2,180 - 179 - 179 - - - - 10 2,984 - 2,984 2,103 5,813 - 5,813 154 730 - 730 - 160 - 160 - 435 - 435 - 2,018 - 2,018 913 2,104 - 2,104 919 240 - 240 - 159 - 159 159 617 - 617 586 - - - 145 - - - 15 240 - 240 - 3,211 - 3,211 - 960 - 960 930 304 - 304 - 754 - 754 1,023 - - - 263 580 - 580 774 984 - 984 - 450 - 450 - |
|---|---|
| 40,268 - 40,268 15,368 |
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MINISTRY OF PRAISE PENTECOSTAL CHURCH
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2022
5. RESTRICTED FUNDS
The charity held no restricted funds during this financial year.
6. CASH AT BANK AND IN HAND
| 6. CASH AT BANK AND IN HAND | |
|---|---|
| Current Account Savings Account Savings Account Opening Adjustment Petty Cash |
Unrestricted Restricted Total Total Fund Fund 31-Dec-22 31-Dec-21 £ £ £ £ 95,033 - 95,033 83,254 151,461 - 151,461 151,136 - - - 179 115 - 115 115 |
| 246,609 - 246,609 234,684 |
7. CREDITORS FALLING DUE WITHIN ONE YEAR
Independent Examiner's Fee
| Unrestricted | Restricted | Total | Total | |
|---|---|---|---|---|
| Fund | Fund | 31-Dec-22 | 31-Dec-21 | |
| £ | £ | £ | £ | |
| 960 | - | 960 | 1,830 | |
| 960 | - | 960 | 1,830 |
8. DEBTORS
The charity held no debtors during this financial year.
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MINISTRY OF PRAISE PENTECOSTAL CHURCH
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2022
9. STAFF COSTS AND NUMBERS
The Charity employed no staff during this financial year.
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. OPENING BALANCE ADJUSTMENT
An opening balance adjustment of £179 was entered in the 2021 accounts to reflect the fact that the Barclays savings account was incorrectly reconciled. The previous savings account opening balance was £151,136. The savings account opening balance is now £151,315 after the adjustment.
Both of these adjustments are reflected as 2021 opening balance sheet adjustments.
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