WORLD RESTOIiATION MINISTRIES (RESTORATION CHAPEL INTERNATIONAL) STATUTORY FINANcL STATEMENTS AND TRUSTEES REPORT YEAR ENDED 31 OCTOBER 2024 WORLD RESTORATION MINISTRIES IREsfoRATION CHAPEL INTERNATIONAL) Statutory Financial Statements & Trustees Report 31st October 2024 Charity No. 1088882
WORLD RESTORATION MINISTIUES (RESTORATION CHAPEL INTERNATIONAL) STATUTORY FINANCIAL STATEMENTS AND TRUSTEES REPORT YEAR ENDED 31 OCTOBER 2024 Legal and Administrative Information Trustees: Cynthia Sissuh Bradlyn Patrick Sarfo Manu Samuel Asamoah Charity Registration No: 1088882 Principal OtFice: Life Centre 55-63 Grove Vale East Dulwich SE22 8EQ Accountants: Rev Dr Olu Olasode PhD FCCA TL First Accountants & Consultants I Copers Cope Road Beckenhatn, Kent BR3 INB Bankers: LLoyds Bank PIC
WORLD RESTORATION MtNISTRIES (RESTORATION CHAPEL INTERNATIONAL) STATUTORY FINANCIAL STATEMENTS AND TRUSTEES REPORT YEAR ENDED 31 (KTOBER 2024 RL ION MINI TRI E REPO TOFTHET TEES ON HE NTS FOR YEAR CT BER2 Introduction The Trustees do hereby present its report and the independently examined financial statements for the year ended 315t October 2024. These comply with current sratutory requirements and the Statement of Recommended Practice- Accounting and Reporting by Charities (SORP) 2015. Name and Registered office and constitution The full name of the charity is World Restoration Ministries. The charity is also known by the name Restoration Chapel International and Restoration City Church. Charity Registered Number The telephone number is The Registered office is: 108888£ 02082991676 Life Centre. lrt Floor 55-63 Grove Vale London SE22 8EQ Trustees Mr Samuel Asamoah Mrs Cynthia Sissuh Mr Bradlvn Sarfo Manu Structiire, Governance and ManagemenL Organisational strncture The Board of Trustees meets every four month and are responsible for the strategic dirertion and policy of the charity. To achieve its. objectives, the Trustees rely on the Senior Management Team on whom the day to day responsibility for the running of the charity lies. The Senior Management Team is accountable to the Board ofTrustees who are responsible for ensuring that the charity achieves its principal aims. The DepartEnental Heads are responsible for the day to day operational management of their service area Objectives and Activities Summary of Objectives of the charity set out in its governing documenL A. The objectives of the charity are to advance the Christian. rel1.0n for the public benefit in accordance with the doctrlnes of our Lord lesus ChrisL through the holding of prayer meetings. lectures. evangelism, distributing of literature and tracts. broadcasting and such charitabte eans as the trustees consider appropriate. B. The relief of poverty by such charitable means as the trustees consider appropriate The principal activities of the church are Christian worship. Christian outreach program to increase Christian awareness and to spread the gospel of our Lord Jesus Christ and the development of the whole man, spiritually. mentally and physically. We have a number of volunteers who assist in helping us achieve our objectives. Our members have the benefit of receiving different professional speakers. experts and life coaches. who come in to enrich our the church community and invited general public skills that dirertly benefit our church members, community. national and international as long as funds are available to do so.
WORLD RESTORATION M[sTRIEs (RESTORATION CHAPEL tNTERNATIONAL) STATUTORY FINANCtAL STATEMENTS AND TRUSTEES REPORT YEAR ENDED 31 OCTOBER 2024 C. Our church is Ènterdenominational and multi-ethnic to embrace people from all walks of life to enable them build and grow their faith in the word of God by learning the scriptures and empowering them to learn new skills to better their lives through receiving guidance and support from the Churc Our church continues to work towards these objectives by always seeking in using the commission's guidance on public benefit and, in particular. the specific guidance on charities for advancement of religion. Summary of the main activitfies undertaken for the public benefits in relation to these objectives. Our trustees continue to review our objectives, purposes and activities yearly. to make Sure they continue to reflect our aims and objectives. In undertakÈng out the review of our church, the Trustees have already considered the public benefit application as stated below. Public Benefit Statement "The trustees have considered the guidance produced by the Charity Commission on the provision of public benefit and they confirm that public benefit has been provided by... . Providing regular public worship open to all . Providing sacred space for personal prayer and contemplation . Conducting pastoral work including visiting the sick and the bereaved . Teaching Christianity through sernions, course5 and small groups . Taking religious assemblies in schools . Providing a youth club with a Christian ethos . Promotingthe whole mission of the church through activities for senior citizens, parents and toddlers and other special needs groups . Supporting other charities in the UK and overseas Providing weeldy beverages and snacks for children and Youth Providing beverages for senior citizens Providing transport and financial support for members who are on low Income. Strategies for Achieving our objertkves The maln activities of the church are as follows: Sundays: 9.30am leadership and workers service. 10:30am main service and 5:30pm evening celebration service for first and tast Sunday of the Month Tuesdays: small groups and community fellowships (L7 Groupl Fridavs." Prayer and teaching SeICe. End of month three days church and community celebration event Young Adults Class: our young adults are involved in several personal development programs in leadership. relationships. finance, career counsellin& mentoring and business. We have seen some of them access employment through the knowledge from these training programs. Youth Bible Class: our youth are involved in bible training programs, behavioral skills, photography. videography and after school homework classes. We have seen these programs help improve academic life of most of our youth.
WORLD RE.STORATION MINISTIUES (RESTORATION CHAPEL INTERNATIONAL) STATUTORY FINANCIAL STATEMENTS AND TRUSTEES REPORT YEAR ENDED 31 OCTOBER 2024 Orchestra: Our youth and children also forni part of our church's orchestra and dance group. They train every week and perforni often in our services and special community programs. Our Women networK Men's NetworK Couples Network have regular monthly meetings to provide training fellowship, prayer and friendship. These programs have been very successful by placing effective tools in the hands of members and people from general public to build successful families. Development and Achievernents In the period We had over 200 virtual services to meet the spiritual. mental. and social needs of members, home bound people and the general public. We were able to organize a successful media project and orchestra training for the year. Many youth and children were able to learn new music21 instruments. We were able to stage concerts in public places during Christmas and one major one during Easter Sunday. Young Adults and Youth Leadership Graduation Our leadership training progrdms for young adults and youth was very successful this year. We witness about 60 people who successfully completed our seven weeks intensive leadership class. Bible Class The seven weeks bible class programs which is mainly held for Church members and was also a success. The main focus is to educate people with sound morals. character building and bible knowledge to become good influencers of the community. Publications We developed and printed leadership training materials, bible studies materials and small group fellowship materials after surveying the needs of each area through questions from church members and few people from general public that visited. More progrdms have been developed in this respect and all the training was successful. The Pastoral Ministry engaged in hospltal & home visits, baby dedication, and pastoral counselling sessions. There were: l. Weddings 2. Baby Dedication and Confirniation 3. Couples meetings 4. Premarital Counselling 5. Post marital Counselling 6. vir81 Prayer support 7. Encouragement Phone Calls 8. Water Baptism 04 07 06 02 30 3 times a day 10 times a week 20 people Outreach work The work of the charity in using the gospel and self-development methodologies to reach people in its immediate communities and in other countries where the lives of people have been distressed in many ways, was strongly maintained in the year under review- at similar levels to prior years. We have continued to expand our community reach, using the media and have
WORLD RESTORATION MINISTRILS {RESTORATION CHAPEL INTERNATIONAL) STATUTORY FLNANCIAL STATEMENTS AND TRUSTEES REPORT YEAR ENDED 31 OCTOBER 2024 simultaneously worked tirelessly to consolidate our prior year gains with the youth. young adults, single parents. and especially our children's ministy which has continuously grown with more demands. The year has seen a successful continuation in the use of media and new technology for online broadcasting. Wopa Radio: We have also made gains through our live global nonprofit internet radio station through preaching and teaching of the word of God. The work of the charity has used this medium to reach several people. We are able to use this medium to broadcast all our services live to anywhere people can access the interneL Our outreach initiatives were effective through online programmes. Through our outreaches we distributed over 2000 free books with drinks and cookies to the public Future strategy The charity plans continuing the activities as outlined above in the forthcoming years subject to continuing satisfactory funding arrangements. The Charity will continue to build and grow its operations in developing its members whilst continuinll to build and foster within the community. The Charity continues to undertake unfinished work of our worship place. We will focus on building our international and domestic outreaches and work towards a structure of continued growth in planning outreaches domestically and abroa The charity will be investing more strategically in the community, through different schemes and outreaches. Financial Review Reserves Poli The trustees have resolved'to establish reserves to provide for future activities, arjd to provide funding for the expected expenditure for three months ahea(L The Investment Policv The charity does not have any investment policy. A]1 our income, with the exception of small cash flow, is reinvested in the charity. Available and Adequate Assets of each of the Funds The board of trustees are satisfied that the charItS assets in each fund are available and adequate to fulfil its obligations in respect of each fund. Principal Funding Sources The Church members continued to be the main source of income in forni of donations 2nd gifts to the Church. Mrs Cynthia Sissuh (On behalf of the Trustees) . 28.1..1.1. 20_
WORLD RESTORATION MiNIsTR.s (RESTORATION CHAPEL tNTERNATIONAL) STATUTORY FINANCIAL STATEMENTS AND TRUSTEES REPORT YEAR ENDED 31 ocfoBER 2024 ACCOUNTANTS. AND INDEPENDEr EXAMINER'S REPORT report on the accounts of the charity for the period ended 31 October 2024 as are set out on pages 8 to 13. Responsibllltles and basis of report As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ["the Arf). I report in respect of my examination of the Trnsvs accounts carried out under section 145 of the 2011 Art and in carrying out my examination, I have followed all the applicable Dirertions given by the Charity Commission under section 145{5)(b) of the Act Independent examiner's statement l am qualified to undertake the examination by being a qualified member of the Chartered Association of Certified Accountants [ACCA) and Fellow of the Association [FCCA). I have completed my examination. I confirni that no material matters have come to my attention in connection with the examination (other than that disclosed below") which gives me cause to believe that in. any material respe... . the accounting records were not kept in accordance with section 130 of the Charities Act" or • the accounts did not accord with the accounting records." or • the accounts did not complywith the applicable requirements concerning the forni and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirementthat the accounts give a'true and fair, view which is not a matter considered as part of an independent exarnination. I have no concerns and have come across no other matters in connection with the examination to which ention should be drawn in this report in order to enable a proper understanding of the acc to be reached. Drol ode PhD APSA FCCA Chartered Certified Accountant TL First Accountants Limited TL First Limited Date:
WORLD RESTOIL4TION MtNISTRIES (RESTORATION CFIAPEL NFERNATIONAL) STATUTORY FINANCIAL STATEMENTS AND TRUSTEES REPORT YEAR ENDED 31 OCTOBER 2024 STATEMENT OF FINANcIALA1vITIEs 2024 2024 2024 2023 Restrirted Unrestricted Total Total INCOMING RESOURCES Donations Grant Gift Aid Received Total Incoming Resources319 276,743 276,743 259,398 9,960 19.461 19.461 62,597 296.204 296,204 331.955 RESOURCES EXPENDED Charitable Activities Governance Costs 268,320 268,320 321,851 17.564 17,564 17,144 Total Resources Expended 285,884 285.884 338,995 Net Incoming / (Outgoing) Resources 10,320 10.320 (-7,040) Total Funds Brought Fonyard 41,777 41.777 48,817 Total Funds Carried Forward 52.097 52.097 41.778 There were no recognisedgalns orlossesfor theyear, other thon those includedin the Statement ofFinancialActivities.
WORLD RESTORATION MINISTIUES (RESTORATION CHAPEL INTERNATIONAL) STATtrroRY FtNANCIAL STATEMEWtS AND TRUSTEFS REPORT YEAR ENDED 31 OCTOBER 2024 BALANCE SHEET 2024 2024 2023 2023 FIXED ASSETS (Note 5) 36.572 32,474 CURRENT ASSETS Debtors (Note 6) Cash and Bank 15.525 9,304 CURREKf LIABILITIES Creditors- within one year (Note 7) NET CURRENT ASSETS 15,525 9.304 Creditors- Not within one year (note 8] NET ASSETS 52,097 41,778 FUNDS AND RESERVES Restricted Funds Unrestricted Funds 52.097 41.778 TOTAL CHARITY FUNDS INASSET 52.097 41.778 Approved by the Board 0fTnS on 2025 and signed on their behalfby: Mrs Cynthfia Si (Trustee)
WORLD RESTORATION MINISTRIES (RESTORATION CHAPEL INTERNATIONAL) STATUTORY FINANCIAL STATEMENTS AND TRUSTEES REPORT YEAR ENDED 31 (KTOBER 2024 NOTE5 TO THE FINANCIAL STATEMENTS I. ACCOUNTING POLICtES (A) Basis of Preparation The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) {effective I January 2015) - (Charities SORP), with FRS 102 and with the requirements of the Charities Act 2011. In preparing the financial statements the charity has applied FRS 102 (March 2018) and the amendments to the Charities SORP set out in Update Bulletin 2 (issued in Ortober 2018) before their effective date of periods commencing I lanuary 2019. The charity meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note& (BJ Going Concern The financial statements are prepared, on a going concern basis. The trustee5 consider that there are no material uncertainties about the chariws ability to continue as a going concer Reconciliation with previous Generally Accepted Accounting Prartlce Transitional arrangements for the charity presenting this financial statement under FRS 102 for the first time had been incorporated and thaL no comparative items were needed. No restatements nor reconciliations were reauired. (D) Fund Accounting Unrestritted funds are available to spend on activÈties that further any of the purposes of charity. The charity maintains only a general unrestricted fund: which represents funds that are expendable at the discretion of the trustees in furtherance of the objects of the charity. Such fund5 may be held in order to finance both working capital and capital investment Income Income is recognised when the charity has entitlement to the funds, any perforniance conditions attached to the item(s) of income have been met, it i probable that the income will be received, and the amount can be measured reliably. Where income has related expendire (as with fundraising or contract income), the income and related expenditure are reported gross in the Statement of Financial Actkvities. io
WORLD RE.STORATION MINISTRIES (RESTORATION CHAPEL INTERNATIONAL) STATUTORY FINANCIAL STATEMENfs AND TRUSTEES REPORT YEAR ENDED 31 OCTOBER 2024 DoJJations, grants, and gifts are recognised when re1vable. In the event that a donation is subject to fulfilling performance conditions before the charity is entitled to the funds. the income is deferred and not recognised until it is probable that those conditions will be fulfilled in the reporting period. Incotne from Gift Aid tax reclaims is recognised for any donations with relevant Gift Aid certificates recognised in income for the year. Any amounts of Gift Aid not received by the year-end are accounted for in income and accrued income in debtors. Income received in advance for a future fundraising event or for a grant received relating to the following year are deferred until the criteria for income recognition are meL Interest on deposit funds held is included when receivable and the amount can be measured reliably by the charity which is norni2lly upon notification of the interest paid or payable by the bank Sponsorship from events, fundraising and events registration fees are recognised in income when the event takes place. Donated Goods and Servlces Donated services or facilities are recognised when the charity has control over the item. any conditions associated with the donated item have been meL the receipt of economic benefit from the use of the item is probable and that economic benefit can be measured reliably. There were no donated goods and services recognised during the year. (G) Expenditure and Irrecoverable VAT Expenditure is recognised once there is a legal or constructive obligation to make a paymentto a third party, it is probable that settlementwill be required, andthe amount of the obligation can be measured reliably. All expenditure is accounted for on an accruals basis and analysed based on the alternative approach for smaller charities - nature of the expenditure. Irrecoverable VAT is charged a5 a cost against the activitv for which the expenditure was incurre¢l Volunteers The value of the services provided by volunteers is not incorporated into these financial statements. Flxed Aets and Depreciation Tangible fixed assets for use by the charity are capitalised if they can be used for more than one year. and cost at least £500. They are valued at cost or a reasonai)le value on receipt Depreciation has been provided at the following rates in order to write off th assets over their estimated useful economic lives. 11
WORLD RESTORATION MINISTRIES (RESTORATION CHAPEL INTERNATIONAL} STATUTORY FINANCIAL STATEMENTS AND TRUSTEES REPORT YEAR ENDBD 31 OCTOBER 2024 Church and Office equipment at 25% straight line basis. The need for any impairment of 2 fixed asset write-down is considered if there is concern over the carrying value of an asset and is assess by comparing that carrying value against the value in use or realisable value of the asset when appropriate. (i) Cash at Bank and In Hanii Cash at bank and cash in hand includes cash and short tem highly liquid invesfments with a short maturity of three months or less from the date of acquisition or opening ofthe deposit or simtlar account (K) Credltors Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are nonnally recognised at their settlement amount after allowing for anv trade discounts due. (i) Taxatfion The charitable company is exempt from income and corporation tax to the extent that its income and gains are applicable to charitable purpose only. Value Added Tax is not recoverable bythe charityand is. therefore, included in the costs in the Statement of Financial Activities. 2. Donations and Similar Incoming Resources 2024 2023 Total Total Donations 276.743 259.398 9,960 62.597 Grant Gift Aid Received 19.461 ?96.204 331.955 3. Resources Expended 2024 2023 Charitable Cost MissAon Cost Administration & Office Cost Staff Cost Rent & Rates Bank& Other Finance Charges 75.678 25,004 66,595 35,042 61,359 4.641 43,200 29.176 141.229 26.336 81,254 6Sti Total Charitable Expenditure 268.320 321.851
WORLD RESTORATION MINISTRIES (RESTORATION CHAPEL INTERNATIONAL) STATUTORY FINANCIAL STATEMENTS AND TRUSTEES REPORT YEAR ENDED 31 OCTOBER 2024 4. Governance Costs Depreciation Professionals Fees Total Governance Cost 2024 13.125 4.439 17,564 2023 13,536 3.608 17.144 5. Fixed Assets Freehold Furniture Equlpmen Office & Fittings Motor Vehicle Total COST At l November 2023 Additions Disposals At 31 October 2024 217,765 11,975 69,387 5,248 0 287.152 17,223 229,740 74,635 304,375 DEPRECIATION Accumulated DepreciatioD Charge for the year At 31 October 2024 198.466 11,813 210,279 56,212 1,312 57.524 0 254.678 13,12S 0 267,803 NET BOOKVALUE At 31 Ortober 2024 19.461 17.111 36.572 At 31 October 2023 19.299 13,17S 32,474 6. RELATED PARTY TRANSACTIONS There were no related party transactions during the reportingyear. 13