ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2023
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 NAME
CHARITY NUMBER
START OF FINANCIAL YEAR
END OF FINANCIAL YEAR
TRUSTEES AT 31ST DECEMBER 2023
LEGAL STATUS
GOVERNING INSTRUMENT
OBJECTS
CORRESPONDENCE ADDRESS
PRIMARY BANKERS
INDEPENDENT EXAMINER
Ministry of Praise 1073397 1st January 2023 31st December 2023 M Thompson (Chair) E W Gordon K Johnston E Smith
The existing trustees appoint any new trustees following the provisions laid out in the organisation's governing instrument. Unincorporated Charity
CONSTITUTION ADOPTED 9TH MARCH 1998, AND AMENDED 25TH DECEMBER 1998
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.
35 Parkland Road London N22 6SU
Barclays Bank Plc 549 High Road Tottenham London N17 6SG
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 2023
The trustees present their report on the accounts of the Ministry of Praise for the year ended 31st December 2023.
Structure, Governance and Management
The Ministry of Praise is registered 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
Ministry of Praise Warm Welcome was registered with Haringey Council in 2021. Ministry of Praise Warm Welcome opened it’s doors to 2 food banks to use its premises 2 days per week. Ministry of Praise provides volunteers and funds food collections using the church vehicle to collect food from supermarkets and local food providers for Community Cook Up and Bridge of Hope. Bridge of Hope Foodbank and Community Cookup. Every Tuesday and Friday Ministry of Praise is the distribution and administrative centre for the 2 foodbanks. We work together to serve our local community with food and a warm safe space to gain information, play games, collect food and have a chat over a cup of tea. Ministry of Praise provide a room every Tuesday and Friday between 12.00pm-4.00pm with up to 70 visitors per session for Community Cookup to provide advice and information to the community putting them in touch with essential services in Haringey.
During cold periods Ministry of Praise distribute sleeping bags, warm clothing. Vinnie Packs are dis-tributed in the local community to those in need. Warm Welcome ran movie nights where we gathered people from our local community creating a safe, inclusive and friendly environment where people from our local community could build connections.
In association with InKind Direct Ministry of Praise have helped address period poverty by distributing sanitaryware for females in our local community in Ghana and Jamaica. In association with InKind toiletries are provided to homeless and vulnerable. We have held a Christmas party for our local community providing Christmas dinner for over 100 people at the local Powerleague venue.
The premises are used annually for fundraising for Macmillan Nurses.
Street Outreach continues to promote Christianity, give clothing and toiletries in Tottenham, Wood Green and Finsbury Park areas.
Hospital visits and prayer groups benefit the community.
There have been many youth events held throughout the year. Over 100 young people in the local community have been attending Friday youth groups at the church and monthly events and activities are sponsored by Ministry of Praise.
Ministry of Praise has sent donated clothing and toiletries overseas bi-monthly
Financial Review
The charity was largely funded in the period by donations.
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MINISTRY OF PRAISE PENTECOSTAL CHURCH
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TRUSTEES REPORT (continued)
FOR THE YEAR ENDED 31ST DECEMBER 2023
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Future Plans
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The trustees will continue to pursue opportunities to use the premises and facilities in furtherance of the charity's objectives. Ministry of Praise Warm Welcome will
continue to provide a safe, warm and friendly space for the local community and will continue to provide volunteers and sponsorship to Bridge of Hope foodbank
and Community Cookup foodbank sothat all togetherwe reach outo t he vulnerable in our local community.
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Warm Welcome group are planning family fun days, movie nights, games, arts and crafts
A monthly get together at church has started for the elderly within our local communityto have light exercise, a meal and art therapy. Ministry of Praise continues to send donated clothing and toiletries overseas
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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Trustees' Responsibilities
The Charities Act 2011 requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the trust
and of the surplus of the trust for that period. In preparing those financial statements the trustees are required to:
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Select suitable accounting policies and apply them consistently
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Make judgements and estimates that are reasonable and prudent - Prepare financial statements on the going concern basis unless it is inappropriate to presume that the trust will continue in existence. The trustees are responsible for keeping proper accounting records, which disclose with reasonable accuracy at any time the financial position of the trust. They are also responsible for safeguarding the assets of the trust and hence for taking reasonable steps for the prevention and detection of fraud and other
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Signature: TA, if
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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 2023 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:
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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
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which gives me reasonable cause to believe that in, any material respect, the requirements:
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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.
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Lomax Pavey Independent Examiners Ltd Unit 2 The Broadbridge Business Centre Delling Lane Bosham West Sussex PO18 8NF
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31st October 2024
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MINISTRY OF PRAISE PENTECOSTAL CHURCH
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2023
| Notes INCOME Donations & Legacies 3 Total Income EXPENDITURE Charitable Activities 4 Total Expenditure NET INCOME/(EXPENDITURE) Total Funds Brought Forward TOTAL CHARITY FUNDS CARRIED FORWARD |
Unrestricted Restricted TOTAL TOTAL Funds Funds 2023 2022 £ £ £ £ 66,187 - 66,187 52,484 |
|---|---|
| 66,187 - 66,187 52,484 |
|
| 37,403 - 37,403 40,268 |
|
| 37,403 - 37,403 40,268 |
|
| 28,784 - 28,784 12,214 330,031 - 330,031 317,817 |
|
| 358,815 - 358,815 330,031 |
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
BALANCE SHEET AS AT 31ST DECEMBER 2023
| Unrestricted | Restricted | Total | Total | |||
|---|---|---|---|---|---|---|
| Funds | Funds | 31-Dec-23 | 31-Dec-22 | |||
| Notes | £ | £ | £ | £ | ||
| Fixed Assets | ||||||
| Tangible Assets | 2 | 97,497 | - | 97,497 | 84,383 | |
| Current Assets | ||||||
| Debtors | 8 | - | - | - | - | |
| Cash at bank in hand | 6 | 262,310 | - | 262,310 | 246,609 | |
| Total Current Assets | 262,310 | - | 262,310 | 246,609 | ||
| Creditorsfalling due within one year | 7 | 990 | - | 990 | 960 | |
| NET CURRENT ASSETS | 261,320 | - | 261,320 | 245,649 | ||
| TOTAL ASSETSless current liabilities | 358,815 | - | 358,815 | 330,031 | ||
| Creditors:amounts falling due in more than one year | - | - | - | - | ||
| NET ASSETS | 358,815 | - | 358,815 | 330,031 | ||
| Funds of the Charity | ||||||
| General Funds | 358,815 | - | 358,815 | 330,031 | ||
| Restricted Funds | 5 | - | - | - | - | |
| Total Charity Funds | 358,815 | - | 358,815 | 330,031 |
Approved by the Trustees on the ………………………………………………………………………………………………………………………………………………………… Approved by the Trustees on the eT ef eS) Signed on their behalf by ………………………………………………………………………………………………………………………………………………………………… Signed on their behalf by _ Momic 4 Theron
Signature: Signature: W Prompsen
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MINISTRY OF PRAISE PENTECOSTAL CHURCH
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2023
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 2023
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-23 Additions Cost at 31-Dec-23 Depreciation 01-Jan-23 Charge Depreciation at 31-Dec-23 Net Book Value 31-Dec-23 Net Book Value 31-Dec-22 |
Land & Buildings Motor General Total Buildings Improvements Vehicle Equipment 2023 £ £ £ £ £ 82,643 92,173 20,000 23,099 217,915 - - - - - |
|---|---|
| 82,643 92,173 20,000 23,099 217,915 |
|
| - 90,942 19,888 22,703 133,533 - 308 28 99 435 |
|
| - 91,250 19,916 22,802 133,968 |
|
| 82,643 923 84 297 83,947 |
|
| 82,643 1,232 113 396 84,384 |
The annual commitments under non-cancelling operating leases and capital commitments are as follows:
31st December 2023: None
31st December 2022: None
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MINISTRY OF PRAISE PENTECOSTAL CHURCH
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2023
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 2023 2022 £ £ £ £ 54,710 - 54,710 40,596 9,734 - 9,734 11,586 - - - 150 1,442 - 1,442 146 300 - 300 6 |
|---|---|
| 66,187 - 66,187 52,484 |
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MINISTRY OF PRAISE PENTECOSTAL CHURCH
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2023
4. EXPENDITURE
| Notes Alarm Building Repairs & Maintenance Church/Office Supplies Advertising Costs Certificates Cleaning Costs Communion Website Costs Christmas Costs Foodbank Equipment Sunday School Charitable Contributions Gifts Giving - Youth Hospitality and Catering Giving Compassionate Gardening Costs Fire Safety Equipment Hall Hire Insurance Motor Vehicles Expenses Minibus Road Tax Motor Vehicles Insurance Petrol Costs and Reimbersments Parking Charges, Permits & Fines Funeral Music Costs Music Equipment Costs Music Equipment Repairs Utility Costs Castle Water Electricity Gas Rubbish & Recycling TV Licence Telephone Cost Training Convention Signage Legal & Professional Fees Independent Examiner's Fee Postage & Stationary Unknown Expenses Outreach Costs Depreciation Expenses |
Unrestricted Restricted TOTAL TOTAL Funds Funds 2023 2022 £ £ £ £ 707 - 707 5,165 2,100 - 2,100 1,768 219 - 219 95 93 - 93 60 83 - 83 15 105 - 105 320 209 - 209 201 309 - 309 168 1,191 - 1,191 880 32 - 32 36 600 - 600 - 25 - 25 - 400 - 400 560 1,260 - 1,260 498 489 - 489 600 375 - 375 - - - - 426 - - - 148 - - - 128 - - - 200 2,595 - 2,595 2,710 3,448 - 3,448 1,365 180 - 180 - 2,702 - 2,702 - 1,594 - 1,594 984 904 - 904 450 3,700 - 3,700 2,180 - - - 2,984 - - - 5,813 220 - 220 730 - - - 160 572 - 572 435 4,047 - 4,047 2,018 3,005 - 3,005 2,104 - - - 240 159 - 159 159 748 - 748 617 300 - 300 - 300 - 300 - - - - 240 2,859 - 2,859 3,211 990 - 990 960 387 - 387 304 62 - 62 754 - - - - 435 - 435 580 |
|---|---|
| 37,403 - 37,403 40,268 |
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MINISTRY OF PRAISE PENTECOSTAL CHURCH
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2023
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 Petty Cash |
Unrestricted Restricted Total Total Fund Fund 31-Dec-23 31-Dec-22 £ £ £ £ 109,292 - 109,292 95,033 152,903 - 152,903 151,461 115 - 115 115 |
| 262,310 - 262,310 246,609 |
7. CREDITORS FALLING DUE WITHIN ONE YEAR
Independent Examiner's Fee
| Unrestricted | Restricted | Total | Total | |
|---|---|---|---|---|
| Fund | Fund | 31-Dec-23 | 31-Dec-22 | |
| £ | £ | £ | £ | |
| 990 | - | 990 | 960 | |
| 990 | - | 990 | 960 |
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 2023
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.
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