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**_ 1 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. **2** 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: 1. Organizing youth conferences 2. Organisation of various missionary activities 3. Business empowerment programme for our members and the community 4. Making donations and gifts to the less privileged within and outside the UK 5. Food bank for the needy 6. Provision of welfare support to members 7. 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: 1. 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. 2. 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. 3. 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. 5. 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. 6. We hosted Christmas party, where we gave out Christmas hampers to less privileged people in our community. 7. We hosted party for the Children to make the children’s day celebration and invitation was open for all. 8. 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. 3 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** 4 ## 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**||||| |||||| |||
||| |||||| |||||| |||||| 5 ## MOUNTAIN OF GLORY CHURCH BALANCE SHEET AS AT 31 MARCH 2022 |All figures are in £|Notes
6
7
8
9|Mar-22
558,674
-
558,674
57,550
24,386
81,936
(5,414)
76,522
635,196
(348,605)
-
-
286,591
286,591
286,591||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 6 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% 7 ## MOUNTAIN OF GLORY CHURCH ## NOTES TO THE FINANCIAL STATEMENTS (Continues) FOR THE YEAR ENDED 31 MARCH 2022 **2. a Voluntary income** |**3. **
**4. **|**b**
All figures are in £
Church Offering
Gift Aid|

|

|**Unrestricted**
**Funds**
90,874

12,860

**103,734**

**Unrestricted**
**Funds**
48,787|**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**||| 8 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|**Fixtures**
**Fittings and**
**Equipments**
141,433|**Land**
**and**
**Building**
526,360
47,635
-|**Motor**
**Vehicle**

4,600
4,600
20%
£
4,600
-
4,600
-
-|**Total**
**720,028**
**7,072**
**558,674**
**565,745**| |---|---|---|---|---|---| |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||| 9 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**||| 10 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 1. 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 2. 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** 11 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**| 12