2023-03-31-accounts - Mount Zion-The Prayer Mountain

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MOUNTAIN OF GLORY CHURCH FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

MOUNTAIN OF GLORY CHURCH

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

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 2023

CHARITY NO NUMBER:	1086971(England and Wales)	1086971(England and Wales)
TRUSTEES:	Pastor Charles Tamakloe
	Mrs Abigail Tamakloe
	Mr Rapheal Tamakloe
	Joy Dhillon
	Joseph Otto
	Ritnatu Kwatiah
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 2023

The Trustees present their report and accounts for the year ended 31 March 2023. 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 2023

Objectives and Activities

The principal activities of the charity continue to focus on providing religious activities, church services, counselling, seminars, support to the needy in the local community, and organizing social events for youths, among other community-based services.

To further these objectives, we have undertaken the following activities:

Organizing youth conferences and camp meetings during school holidays.
Conducting various missionary activities.
Implementing a business empowerment program for our members and the wider community.
Making donations and gifts to the less privileged, both within and outside the UK.
Operating a food bank for those in need.
Providing welfare support to our members.
Promoting the gospel of Jesus Christ through community outreach events, conferences, and church services.

Achievements and Performance for Public Benefit: The charity has continued with its public benefit efforts as

follows:

Offered a range of services throughout the year that are spiritually fulfilling and beneficial to our members and the community. This includes mid-week prayer meetings and our traditional Saturday praise service featuring modern music and in-depth Bible teachings.
Hosted youth programs, inviting youths from the community to participate. These activities, traditionally organized during school breaks and holidays, have received outstanding feedback.
Contributed to food banks, orphanages in Africa, and assisted the needy within our church community.
Organized business empowerment programs to support members in starting or expanding their businesses.
Celebrated Mother’s Day by honoring mothers in our church and community. Other social events throughout the year included Children’s Day, Valentine’s Day and Father’s Day celebrations.

Volunteers

The church is grateful for the generous efforts of our volunteers who are involved in service provision It is estimated that more than 1500 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 £20,000.00.

MOUNTAIN OF GLORY CHURCH

REPORTS OF THE TRUSTEES (continued) FOR THE YEAR ENDED 31 MARCH 2023

Financial Review

The aftermath of the pandemic has had a significant impact on our church's income, resulting in decreased attendance at in-person events. For the year ending 31 March 2023, the church's total incoming resources amounted to £161,228, compared to £166,420 in the previous year.

The charity's main sources of funding are voluntary contributions, including tithes, donations, and offerings from church members. Additionally, we receive income through Gift Aid from HMRC and rental income. As of the current date, the charity's total net worth stands at £303,812. We maintain a balance in the accumulated surplus of unrestricted funds, which is reserved for future anticipated demands on the charity's resources. The Trustees regularly review the church's reserve position to ensure it remains sufficient for our commitments and future needs.

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 2023

	Notes 2a 2b 3 4	Notes 2a 2b 3 4	Unrestricted Funds 77,708 64,787 18,733 161,228 112,190 31,816 144,007 17,221 - - 17,221 286,591 303,812
All figures are in £
Incoming resources from generating funds: Donations Rental Income Other Income( Football, Grant, seminars,marriages) 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 31/12/2023

MOUNTAIN OF GLORY CHURCH BALANCE SHEET AS AT 31 MARCH 2023

All figures are in £ FIXED ASSETS Notes Mar-23 Tangible assets 6 551,602 Intangible assets - Total fixed assets 551,602 CURRENT ASSETS Debtors 7 54,332 Cash at Bank and Hand 50,319 Total current assets 104,651 LIABILITIES Creditors:amount falling due within one year 8 (1,786) Net Current assets and Liabilities 102,865 Total Assets less Current Liabilities 654,467 Creditors:amount falling due after more than one year 9 Provisions for liabilities and charges. (350,654.84) Net asset or liabilities excluding pension asset or liability - Total net assets or liabilities 303,812 THE FUNDS OF THE CHURCH Church Fund and Reserve 303,812 TOTAL CHURCH FUNDS 303,812		Mar-22 558,674 - 558,674 57,550 24,386 81,936 (5,414) 76,522 635,196 (348,605) - 286,590 286,590 286,590	Mar-22 558,674 - 558,674 57,550 24,386 81,936 (5,414) 76,522 635,196 (348,605) - 286,590 286,590 286,590
		57,550 24,386


			635,196 (348,605) -
			286,590
			286,590

			286,590

APPROVED BY:

Pastor Charles Tamakloe

Trustee

................................................... Date

MOUNTAIN OF GLORY CHURCH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

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 2023 2. a Voluntary income

3. 4.	b c Cost of Charitable Activities Governance Costs All figures are in £ Church Offering Gift Aid All figures are in £ Rental Income All figures are in £ Other Income Football All figures are in £ Mountain of Glory Church		Unrestricted Funds 77,708 16,197 93,905 Unrestricted Funds 64,787	Unrestricted Funds 77,708 16,197 93,905 Unrestricted Funds 64,787
			64,787
			Unrestricted Funds 1,781 755

				2,536
		Activities Undertaken directly 112,190
		112,190
		Unrestricted Funds 890 5,400 4,740 20,786
All	figures are in £
Accounatncy Fee Consultancy Fees Legal and Professional fees Bank Charges
		31,816

MOUNTAIN OF GLORY CHURCH

NOTES TO THE FINANCIAL STATEMENTS (Continues) FOR THE YEAR ENDED 31 MARCH 2023

5. Employees All figures are in £ Wages & Salaries PAYE & NIC Pension		Mar-23 59,062 - 1,455 60,517	Mar-22
			62,244 - 6,510
			68,754

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.

All figures are in £	Fixtures Fittings and Equipments 141,433	Fixtures Fittings and Equipments 141,433	Land and Building 526,360 - 526,360 0% £ - - - 526,360 526,360	Total 667,793 7,072 551,602 558,674
DEPRECIATIONS CHARGE Cost Opening Balance Addition Disposal Revaluations Transfer As 31/03/2022 Depreciation rates Depreciation Balance b/f Charge for the year NET BOOK VALUE 31/03/2023 31/03/2022
		141,433
		5% £ 109,119 7,072


		116,191

		25,242

		32,314

MOUNTAIN OF GLORY CHURCH

NOTES TO THE FINANCIAL STATEMENTS (Continues) FOR THE YEAR ENDED 31 MARCH 2023

Receivables: All figures are in £ 7 Debtors Rental Income 8Creditors: amounts falling due within one year All figures are in £ Trade creditors PAYE and NIC Other Creditors 9Creditors: amounts falling due within more than one year All figures are in £ Mortgage Bank Loan 10 Unrestricted funds All figures are in £	Mar-23 54331.75 - 54,332 Mar-23 20,786 - 890 21,676 Mar-23 314,657 35,999 At 2022 286,591	Incoming resources 161,228	At Outgoing resources 2023 144,007 303,812

MOUNTAIN OF GLORY CHURCH

INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES OF MOUNTAIN OF GLORY CHURCH

FOR THE YEAR ENDED 31 MARCH 2023

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 2023

All figures are in £		9,071 9,071 103,119	77,708 64,787 755 1,781 16,197
RECEIPTS: Incoming Resources: Offering Rentals Football Refund 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 Building Refurbishment and Maintainance Telephone Fax and Internet Services Church Office Expenses Depreciation Sundry Computer Software Total Expenditure TOTAL CHARITABLE ACTIVITIES EXPENDITURE Governance Cost Bank Charges/interest on Loan Accountancy Fees Consultancy Fees Legal and Professional fees TOTAL GOVERNANCE COSTS TOTAL PAYMENTS Excess of receipts over payments
			161,228
			144,007
	21,336 4,426 3,850 2,772 59,062 1,455 572 573 838 7,072 309 855
		112,190

		31,816

			17,221