2021-03-31-accounts - Mount Zion-The Prayer Mountain

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MOUNTAIN OF GLORY CHURCH FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

MOUNTAIN OF GLORY CHURCH

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

Church Legal and Administrative Information Report of the trustees Statement of financial activities Balance Sheet Notes to the Accounts Independent examiner’s statement Schedule of income and expenditure	Page
	1 2-4 5 6 7-10 11 12

MOUNTAIN OF GLORY CHURCH

CHURCH LEGAL AND ADMINISTRATIVE INFORMATION FOR THE YEAR ENDED 31 MARCH 2021

CHARITY NO NUMBER: 1086971(England and Wales) TRUSTEES: Pastor Charles Tamakloe Mrs Abigail Tamakloe Mr Rapheal Tamakloe REGISTERED OFFICE: East Wing, Castle house, Dawson Road, Mount Farm, Milton Keynes MK11QY BUSINESS ADDRESS: East Wing, Castle house, Dawson Road, Mount Farm, Milton Keynes MK11QY BANKER: Natwest Bank 15 Bridge Road Wembley Middlesex HA9 9AE INDEPENDENT EXAMINERS: Light Accountants Ltd 67 Maylam Gardens Sittingbourne Kent ME10 1GA Email:info@lightaccountants.co.uk lightcnglobalservices@gmail.com Telephone: 01795487384 Mobile: 07429137985 Web: www. lightaccountants.co.uk

MOUNTAIN OF GLORY CHURCH REPORTS OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021

The Trustees present their report and accounts for the year ended 31 March 2021. The Trustees confirm that the Annual report and financial statements of the Charity comply with the current statutory requirements, the requirements of the Charity's governing document and the provisions of the Statement of Recommended Practice (SORP), applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (as amended for accounting periods commencing from 1 January 2016)

STRUCTURE, GOVERNANCE AND MANAGEMENT

The management of the church is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.

Governing Document

The Church is an unincorporated charity, and her governing document consists of a charitable trust deed registered with the Charity Commission.

Appointment of Trustees

Trustees are nominated by the chair. In appointing trustees, consideration is given to individuals who have adequate experience in running organized youth groups, training and education and community outreach.

Policies Adopted for the Induction and Training of Trustees

The induction process for any newly appointed member of the Trustees comprises an initial meeting with the Chair and other Trustees, followed by a series of short meetings with the Minister in Charge on the powers and responsibilities of the Trustees.

Organisational Structure and Decision Making

The church is organised so that the trustees meet quarterly to manage its affairs. The Minister in charge manages the day-to-day administration of the church with the assistance of other members of staff. At quarterly Trustee meetings, agreement is made by the Trustees on the strategy and activities of the charity which includes charitable donations, investments, reserves and risk management policies and performance. During these periods of Covid-19 restrictions, the trustees meet more frequently remotely.

Risk Management

The charity has assessed all the major risks to which the charity is exposed to, especially in areas of operations and finances of the charity, and are satisfied that systems are in place to mitigate exposure to major risks

MOUNTAIN OF GLORY CHURCH

REPORTS OF THE TRUSTEES (continued) FOR THE YEAR ENDED 31 MARCH 2021

Objectives and Activities

The principal activities of the charity continue to be the provision of religious activities, church services, counselling, seminars, helping the needy in the local community and other community-based services such as organization of social events for the youths.

The activities adopted to further these objects include:

Organizing youth conferences
Organisation of various missionary activities
Business empowerment programme for our members and the community
Making donations and gifts to the less privileged within and outside the UK
Food bank for the needy
Provision of welfare support to members
Promoting the gospel of Jesus Christ through community outreach events, conferences, and church services.

Achievements, Activities and Performance for Public Benefits

The lockdown in March 2020 means the activities of the church moved to online platform where members were encouraged to join Sunday services and midweek prayers and other activities remotely.

The effect of the pandemics on organizing in presence activities is still on going. During the trustee’s virtual meetings, it was discussed and agreed to conduct most activities virtually were possible and in compliance with the law and to postpone other activities that can only be hold in presence until such a time that it is legal and healthy to continue with such activities.

The charity also successfully had virtual empowerment seminars and conferences for men, women, and youth during the year where the attendees were adequately equipped and educated on the principles and doctrines of living a happy Christian life.

Prayer and counselling continue, and people are giving contact details of the Pastors and other volunteered members to arrange personal prayer and counselling time. The ministry consistently follows up on members and some members of the public, locally and internationally, who were severely affected by the pandemic and lockdown. Donations were made to food bank, money was also gifted to the needy within the church community.

Volunteers

The church is grateful for the generous efforts of our volunteers who are involved in service provision especially during the lock down. It is estimated that more than 2000 volunteer hours were provided during the year. If this is conservatively valued at current minimum wage per hour, the volunteer efforts will amount to over £15000.

MOUNTAIN OF GLORY CHURCH

REPORTS OF THE TRUSTEES (continued) FOR THE YEAR ENDED 31 MARCH 2021

Financial Review

The pandemic affected the church income. For the year ended 31 March 2021, the church’s total incoming resources was £160,255as against £188,100 generated in 2020.

The principal funding source for the charity is mainly through voluntary tithe, donations, and offerings by church members. Other sources of income include Gift aid from HMRC, rental income, and other covid related grants from the government. The charity’s total net worth as at date is £249,583. The balance of the accumulated surplus of unrestricted funds is held for further anticipated calls on the resources of the Charity. The Trustees regularly review the reserves position of the church to ensure it is adequate for the church commitments and anticipations.

Plans for future periods

The church plan is to continue to sustain the church membership and increase the activities in helping the needy around the world and to continue in organizing social activities for the youths in the local community and Africa. The church also intends to continue to host its regular yearly conferences and vacation bible school in UK and other social events for the benefit of the society.

STATEMENT OF TRUSTEES’ RESPONSIBILITIES

The trustees are responsible for preparing the Trustees' Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of charity and of the incoming resources and application of resources of the charity for that year. In preparing these financial statements the trustees are required to:

select suitable accounting policies and then apply them consistently;
observe the methods and principles in the Charities SORP;
make judgements and estimates that are reasonable and prudent;
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011 and the Charity (Accounts and Reports) Regulations 2008. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

SIGNED ON BEHALF OF BOARD BY:

Pastor Charles Tamakloe Trustee

Date

MOUNTAIN OF GLORY CHURCH

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021

	Notes 2a 2b 3 4	Notes 2a 2b 3 4	Unrestricted Funds 42,390 61,820 56,045 160,255 119,590 5,844 125,434 34,821 - - 34,821
All figures are in £
Incoming resources from generating funds: Donations Rental Income Other Income Total incoming resources Resources Expended Charitable activities Governance costs Total resources expended Net incoming resources/(net outgoing resources) before transfers between funds Transfer between funds Other recognise gains and losses Net movement in funds

MOUNTAIN OF GLORY CHURCH BALANCE SHEET AS AT 31 MARCH 2021

All figures are in £	Mar-20 525,623 - 525,623 29,303 4,260 19,256 52,819 (2,274) 50,545 576,168 (265,063) - 311,104 311,104 311,104	Mar-20 525,623 - 525,623 29,303 4,260 19,256 52,819 (2,274) 50,545 576,168 (265,063) - 311,104 311,104 311,104
FIXED ASSETS Tangible assets Intangible assets Total fixed assets CURRENT ASSETS Debtors Prepayments Cash at Bank and Hand Total current assets LIABILITIES Creditors:amount falling due within one year Net Current assets and Liabilities Total Assets less Current Liabilities Creditors:amount falling due after more than one year Provisions for liabilities and charges. Net asset or liabilities excluding pension asset or liability Total net assets or liabilities THE FUNDS OF THE CHURCH Church Fund and Reserve TOTAL CHURCH FUNDS
	29,303 4,260 19,256


		576,168 (265,063) -
		311,104
		311,104

		311,104

APPROVED BY:

Pastor Charles Tamakloe Trustee

...................................................

Date

MOUNTAIN OF GLORY CHURCH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

1. Accounting policies

The accounting policies have been applied consistently throughout the year and the preceding year.

a. Basis of accounting

The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (as amended for accounting periods commencing from 1 January 2016) and Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and Charities Act 2011.

b. Incoming resources

Income resources have been clearly broken down to show the various sources of funds for the charity. The unrestricted income consists of funds the charity has discretionary control as regards to its disbursement.Please note that all incoming resources are only accounted for in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy.

Voluntary income is received by way of grants, donations and gifts and is included in full in the statement of financial activities when it is receivable while donated services and facilities are included at the value to the charity where this can be quantified. The value of services provided by volunteers has not been included.

Gifts donated for resale are included as incoming resources within activities for generating funds when they are sold.

c. Resources expended

Resources expended shows the governance cost and money spent on charitable activities. Expenditure is recognised on accrual basis as a liability is incurred. Expenditure could be VAT inclusive if it cannot be fully recovered, and it is reported as part of the expenditure to which it relates.

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

d. Tangible fixed assets and depreciation

The Mortgage is classified as freehold assets and has been recognised at cost and all the cost associated with bringing the building to its present condition have been capitalised.

Fixtures, fittings and equipment are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or value of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Fixtures, fittings and equipment - 5%

MOUNTAIN OF GLORY CHURCH

NOTES TO THE FINANCIAL STATEMENTS (Continues) FOR THE YEAR ENDED 31 MARCH 2021 2. a Voluntary income

b All figures are in £ Church Offering Gift Aid		Unrestricted Funds 42,390 13,209 55,599 Unrestricted Funds 61,820	Unrestricted Funds 42,390 13,209 55,599 Unrestricted Funds 61,820
All figures are in £
c Cost of Charitable Activities Rental Income All figures are in £ Grant and CJSS Football
		61,820
		Unrestricted Funds 42836 -

		42,836

All figures are in £
Governance Costs Mountain of Glory Church

	Unrestricted Funds 550 300 4,994
All figures are in £
Accounatncy Fee Legal and Consultancy Fee Bank Charges
			5,844

MOUNTAIN OF GLORY CHURCH

NOTES TO THE FINANCIAL STATEMENTS (Continues) FOR THE YEAR ENDED 31 MARCH 2021

5. Employees

All figures are in £		Mar-21 60,939 2,814 2,826 66,579	Mar-20
Wages & Salaries PAYE & NIC Pension			48,535 5,339 2,574
			56,448

No employee received emoluments of more than £60,000.00 during the period under review. Number of employees = 1. (This is calculated on the basis of full-time equivalents)

6. Tangible Fixed assets Movements.

All figures are in £	Fixtures Fittings and Equipments 141,433	Land and Building 526,360 47,635 -
DEPRECIATIONS CHARGE Cost Opening Balance Addition Disposal Revaluations Transfer As 31/03/2020 Depreciation rates Depreciation Balance b/f Charge for the year NET BOOK VALUE 31/03/2021 31/03/2020
	141,433	573,995
	5% £ 94,976 7,072	0% £ 47,635 -


	102,048	47,635

	39,385	526,360

	46,457	478,725

MOUNTAIN OF GLORY CHURCH

NOTES TO THE FINANCIAL STATEMENTS (Continues) FOR THE YEAR ENDED 31 MARCH 2021

----- Start of picture text -----
Receivables: Mar-21 Mar-20
All figures are in £
Debtors 42756 29,303
Rental Income - 4,260
42,756 33,563
Creditors: amounts falling due within one year Mar-21 Mar-20
All figures are in £
Trade creditors 850 550
PAYE and NIC - 667
Other Creditors - 951
Accurals and Deferred income - 106
850 2,274
Creditors: amounts falling due within more than one year
All figures are in £ Mar-21 Mar-20
Mortgage 346,345 265,063
----- End of picture text -----

MOUNTAIN OF GLORY CHURCH

INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES OF MOUNTAIN OF GLORY CHURCH

FOR THE YEAR ENDED 31 MARCH 2021

Respective The charity's trustees are responsible for the preparation of the accounts. responsibilities of The charity’s trustees consider that an audit is not required for this year trustees and examiner under section 144 of the Charities Act 2011 (the Charities Act) 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.

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.

In connection with my examination, no matter has 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.

Independent examiner

Light Accountants Ltd 67 Maylam Gardens Sittingbourne Kent ME10 1GA

MOUNTAIN OF GLORY CHURCH

SCHEDULE OF INCOME AND EXPENDITURE FOR THE YEAR ENDED 31 MARCH 2021

All figures are in £	42,390 61,820 - 42,836 13,209.00 160,255 14945 14,945 13,051 798 2,032 379 60,939 2,826 2,814 8,819 470 3,244 7,514 1,460 300 104,645 119,590 4,994 550 300 5,844 5,844 125,434 34,821	42,390 61,820 - 42,836 13,209.00 160,255 14945 14,945 13,051 798 2,032 379 60,939 2,826 2,814 8,819 470 3,244 7,514 1,460 300 104,645 119,590 4,994 550 300 5,844 5,844 125,434 34,821	42,390 61,820 - 42,836 13,209.00
RECEIPTS: Incoming Resources: Offering Rentals Football Grant Income Gift Aid Total receipts CHARITABLE ACTIVITIES: Grants Charitable donations Church management and administration Agency Fees and Service Charges Insurance Equipment Expense Motor and Travelling Expenses Wages & Salaries Pension PAYE & NIC Building Refurbishment and Maintainance Telephone Fax and Internet Services Church Office Expenses Depreciation Sundry Advertising and Promotional Cost Total Expenditure TOTAL CHARITABLE ACTIVITIES EXPENDITURE Governance Cost Bank Charges Accountancy fees Consultancy and professional fees TOTAL GOVERNANCE COSTS TOTAL PAYMENTS Excess of receipts over payments
	4,994 550 300
		119,590
		5,844

		5,844

			34,821