2022-03-31-accounts - Mount Zion-The Prayer Mountain

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MOUNTAIN OF GLORY CHURCH FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

MOUNTAIN OF GLORY CHURCH

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

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 2022

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 33 Postmill Road Sandwich Kent CT13 0FU Email:info@lightaccountants.co.uk lightcnglobalservices@gmail.com Tel:01304729369 Mobile:07429137985

MOUNTAIN OF GLORY CHURCH REPORTS OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022

The Trustees present their report and accounts for the year ended 31 March 2022. 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.

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 2022

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

As the lockdown restriction are being listed, the activities of the church which was moved to online platform are gradually being returned to in person services. However, members who are not able to join in person services were encouraged to join Sunday services and midweek prayers and other activities remotely.

As normalcy returns, the charity continued in the following public benefit activities:

offered a range of services during the weeks and over the course of the year, that are spiritually fulfilling and beneficial to our members and the community. Examples of this include Mid-week Prayer meetings, our traditional Saturday praise service, which features modern music ministration and a time of deeper insights into the Bible.
Hosted youth programmes whereby youths in community were invited to participate. We traditionally organize youth activities during every school break and holiday with outstanding feedback from participants.
Donated to food bank, orphanage in African and helped they needy within the church community. 4. We also organized a business empowerment program to encourage members who have started businesses or to start up their own business.
Every year, we have Mother’s Day that comes with a unique party to celebrate the mothers in our church and within the community. We also had other social events during the year, such as Valentine’s Day, Mother’s Day, and Father’s Day celebrations.
We hosted Christmas party, where we gave out Christmas hampers to less privileged people in our community.
We hosted party for the Children to make the children’s day celebration and invitation was open for all.
We sponsored yearly pastors’ training programme. 9. Prayer and counselling continue, and people are giving contact details of the Pastors and other volunteered members to arrange personal prayer and counselling time

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 £15,000.

MOUNTAIN OF GLORY CHURCH

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

Financial Review

The pandemic affected the church income as we continue to experience low turnup for in person events. For the year ended 31 March 202, the church’s total incoming resources was £166,420 while £160,255 generated in 2021.

The principal funding source of 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 of the date is £268,591 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 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 2022

	Notes 2a 2b 3 4	Notes 2a 2b 3 4	Unrestricted Funds 90,874 48,787 26,759 166,420 113,879 15,533 129,411 37,009 - - 37,009 249,582 286,591
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 Total funds brought forward Total funds carried forward for the year ended 31/03/2022

MOUNTAIN OF GLORY CHURCH BALANCE SHEET AS AT 31 MARCH 2022

All figures are in £	Mar-21 565,745 - 565,745 42,756 33,278 76,034 (850) 75,184 640,929 (391,345) - 249,583 249,583 249,583	Mar-21 565,745 - 565,745 42,756 33,278 76,034 (850) 75,184 640,929 (391,345) - 249,583 249,583 249,583
FIXED ASSETS Tangible assets Intangible assets Total fixed assets CURRENT ASSETS Debtors 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
	42,756 33,278


		640,929 (391,345) -
		249,583
		249,583

		249,583

APPROVED BY:

Pastor Charles Tamakloe

Trustee

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

Date

MOUNTAIN OF GLORY CHURCH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

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 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 2022 2. a Voluntary income

b All figures are in £ Church Offering Gift Aid		Unrestricted Funds 90,874 12,860 103,734 Unrestricted Funds 48,787
All figures are in £
c Cost of Charitable Activities Rental Income All figures are in £ Grant and CJSS Football
		48,787
		Unrestricted Funds 13,899 -
		13,899

All figures are in £
Governance Costs Mountain of Glory Church

	Unrestricted Funds 790 10,119 4,624
All figures are in £
Accounatncy Fee Legal and Consultancy Fee Bank Charges
	15,533

MOUNTAIN OF GLORY CHURCH

NOTES TO THE FINANCIAL STATEMENTS (Continues) FOR THE YEAR ENDED 31 MARCH 2022

5. Employees

Employees
All figures are in £	Mar-22 56,643 5,601 6,510 68,754	Mar-21
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 based on full-time equivalents)

6. Tangible Fixed assets Movements.

FOR THE YEAR ENDED 31 MARCH 2022

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 31/03/2021 Depreciation rates Depreciation Balance b/f Charge for the year NET BOOK VALUE 31/03/2022 31/03/2021
	141,433	573,995
	5% £ 102,048 7,072	0% £ 47,635 -


	109,119	47,635

	32,314	526,360

	39,385	526,360

MOUNTAIN OF GLORY CHURCH

NOTES TO THE FINANCIAL STATEMENTS (Continues) FOR THE YEAR ENDED 31 MARCH 2022

Receivables: All figures are in £ Debtors Rental Income Creditors: amounts falling due within one year All figures are in £ Trade creditors PAYE and NIC Other Creditors Creditors: amounts falling due within more than one year All figures are in £ Mortgage Bank Loan Unrestricted funds All figures are in £	Mar-22 57,550 - 57,550 Mar-22 4,624 - 790	Incoming resources 166,420	At Outgoing resources 2022 129,411 286,591
	5,414
	Mar-22 325,306 23,299 At 2021 249,582

MOUNTAIN OF GLORY CHURCH

INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES OF MOUNTAIN OF GLORY CHURCH

FOR THE YEAR ENDED 31 MARCH 2022

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 33 Postmill Road Sandwich CT13 0FU

MOUNTAIN OF GLORY CHURCH

SCHEDULE OF INCOME AND EXPENDITURE FOR THE YEAR ENDED 31 MARCH 2022

All figures are in £		8,219 8,219 105,660	90,874 48,787 - 13,899 12,860
RECEIPTS: Incoming Resources: Offering Rentals Football Grant Income Gift Aid Total receipts CHARITABLE ACTIVITIES: Grants Charitable donations Church management and administration 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
			166,420 129,411
	15,507 4,033 2,743 2,581 56,643 6,510 5,601 2,017 369 2,029 7,072 42 513
	4,624 790 10,119
		113,879
		15,533

		15,533

			37,009