## **Charity Number 1089443**
**RHEMA INTERNATIONAL CHURCH (MILTON KEYNES) HOUSE OF PRAYER FOR ALL NATIONS**
**Report and Financial Statements**
**For year ended 31 December 2020**
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## **RHEMA INTERNATIONAL CHURCH (MILTON KEYNES) HOUSE OF PRAYER FOR ALL NATIONS**
## **Legal and administrative information**
## **Trustees**
Rev. George O. Assibey Mr. Stephen Obuobi Dankwa Mr Emmanuel Odartei Lamptey
**Charity Number** 1089443
## **Principal Address**
1 Mount House Bond Avenue Bletchley Milton Keynes MK1 1SF
## **Accountants**
Super Accounts Tax Vat And Payroll Ltd 1 Honduras Gardens Newton Leys, Bletchley Milton Keynes MK3 5LY
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## **RHEMA INTERNATIONAL CHURCH (MILTON KEYNES) HOUSE OF PRAYER FOR ALL NATIONS**
## **Contents**
||**Page**|
|---|---|
|Trustees' annual report|**4 - 5**|
|Report of the independent examiner|**6**|
|Statement of financial activities|**7**|
|Balance Sheets|**8**|
|Notes to the financial statements|**9 - 12**|
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## **RHEMA INTERNATIONAL CHURCH (MILTON KEYNES) HOUSE OF PRAYER FOR ALL NATIONS**
Trustees’ annual report For the year ended 31 December 2020
The Trustees have the pleasure of submitting their report and the financial statements for the year ended 31st December 2020.
## **Objectives of the Charity**
## **The main objectives of the Charity are:**
1. The advancement of the Christian religion
2. The relief of poverty, sickness and distress
3. The protection and prevention of public health
4. The provision of (or assistance in the provision of) facilities for education, recreation and other leisure time occupations of the inhabitants of the area of benefit in the interests of social welfare and with the aim of improving their conditions of life.
## **COVID-19 Pandemic**
The church had a very challenging year, to say the least. In early January, burglars broke into the church premises and made away with musical instruments, laptops, and the cash safe at the church office and items from the kitchen
The previous year ending in December 2019 had seen the revamping of the Youth Ministry. This spurred on the other Departments to also raise their standards and increase their membership. The Choir, the Ushering & Protocol, the Children’s Ministry, the Youth Ministry, The Young Adults, The Welfare Department, the Rhema Ladies and the Men’s Fellowship were all making good progress in their operations and the church was looking very vibrant. Then came in the COVID-19 pandemic!
The onset of the COVID-19 pandemic which led to a national lock-down and the closure of the church, had a devastating effect on the physical, emotional and spiritual well-being of everyone from children to adults.
The closure of the church also had a crippling effect on the finances of the church due to the absence of meetings where Tithes and Offerings are received. All categories of workers – business owners, self-employed and employees were all hit financially. The church is yet to recover from the financial losses.
The Reverend Minister resorted to social media to broadcast Sunday sermons via Facebook and during Easter administered the holy sacraments to members via the church’s Facebook platform. Friday Prayer Meetings were also led on Zoom.
Between the months of April and August there were only virtual services held for members and the general public. September saw a little easing of the lockdown restrictions, but only a small number of up to 30 people were allowed to meet face to face. However due to fears, anxieties and uncertainties in the spread of the pandemic, the church remained virtually empty for services, the only exception being the Annual Watch-Night Service on the 31[st] December 2020 which had full attendance.
We thank God that although a few members got ill from COVID-19, no church member lost their lives through the disease. The only death in the year was from natural causes.
4
## **RHEMA INTERNATIONAL CHURCH (MILTON KEYNES) HOUSE OF PRAYER FOR ALL NATIONS**
Trustees’ annual report (Contd) for the year ended 31 December 2020
We look forward to rebuilding the confidence of the people through counselling and support, and get them to return to fellowship and church attendance.
## **Review of Financial Position**
Please refer to the annexed accounts for the details of the Financial Statements for the year ended 31st December 2020.
## **Risk Management**
The Trustees actively review the major risks which the charity faces on a regular basis and ensure measures and policies are put in place to safeguard the charity’s funds and assets. The Trustees also ensure that legal advice is sought when necessary, in crucial issues concerning the ministry.
## **Reserves Policy**
The Trustees would like to work towards maintaining unrestricted funds at a level which equates approximately to three months of unrestricted expenditure.
## **Trustees’ Responsibility in Relation to the Financial Statements**
- The Charities Act requires the Trustees to prepare financial statements for each year, which will give a true and fair view of the state of affairs of the charity and of the surplus or deficit of the charity of that year. In preparing these financial statements, the Trustees are requested to:
- a) Select suitable accounting policies and apply them consistently.
- b) Make judgements and estimates that are reasonable and prudent.
- c) State whether applicable accounting standards and statements of recommended practice have been followed, subject to any departures disclosed and explained in the financial statements.
- d) Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue 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 to enable them to ensure that the financial statements comply with the Charities Act. They are also responsible for safeguarding the assets of the charity and hence for taking any reasonable steps for the prevention and detection of fraud and other irregularities.
## **Approval**
This Report was approved by the Board of Trustees and signed on their behalf by
**Signature:** G.O.Assibey **Name: George O. Assibey Status: Chair of Board of Trustees Date: 27/09/2021**
5
## **RHEMA INTERNATIONAL CHURCH (MILTON KEYNES) HOUSE OF PRAYER FOR ALL NATIONS**
## **Independent Examiner’s Report to Rhema International Church (Milton Keynes) House Of Prayer For All Nations**
- I report on the accounts of the Charity for the year ended 31[st] December 2020 set out on the following pages which have been prepared on the basis of the accounting policies shown in the corresponding pages.
## **Respective responsibilities of trustees and examiner**
- The trustees of the Charity are responsible for the preparation of accounts. They consider that the audit requirement under section 43 (2) of the Charities Act 1993 does not apply. It is my responsibility to;
- Examine the accounts under section 43 (2) of the 1993 Act.
- Follow the procedures laid down in the general directions given by the Charity Commissioners made under section 43 (7) (b) of the 1993 Act.
- State whether particular matters have come to my attention.
- **Basis of Independent Examiner’s report**
- My examination was carried out in accordance with the general directions given by the Charity Commission and is in accordance with Regulation 11of the charity Account (Scotland) Regulation 2006. The 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 you as trustees concerning any such matters. The procedures undertaking do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts.
## **Independent Examiner’s statement**
In the course of my examination, no matter has come to my Attention;
- (1) Which gives me reasonable cause to believe that, in any material aspect, the trustees have not met the requirements to ensure that:
- Proper accounting records are kept in accordance with section 41 of the 1993 Act and section 44 (1) (a) of the 2005 Act and Regulation 4 of the 2006
- Accounts are prepared which agree with the accounting records and comply with the accounting requirements of the Act: or
- (2) To which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
## **JOSHUA ASHITEY FMAAT**
**Town of office: Milton Keynes Date: 27/09/2021**
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## **RHEMA INTERNATIONAL CHURCH (MILTON KEYNES) HOUSE OF PRAYER FOR ALL NATIONS**
## **Statements of Financial Activities for the year ended 31 December 2020**
|**Categories by**
**activity**
**Details**
**of own**
**analysis**
**Unrestricted**
**funds**
**Restricted**
**funds**
**Total**
**this**
**year**
**Incoming resources**
NOTE
**£**
**£**
**£**
**Incoming resources**
**from generated**
**funds**
Voluntary income
2
63184
-
63184
Activities for
generating funds
Investment income
_
_
_
_
**Incoming resources**
**from charitable**
**activities**
**Other incoming**
**resources**
_
_
_
_
**_Total incoming resources_**
**63184**
**-**
**63184**
**Resources Expended**
**NOTE**
**Costs of Generating Funds**
Costs of generating voluntary
income
3
10000
10000
**Charitable activities**
4
36099
36099
**Governance costs**
5
14881
14881
**Other resources expended**
_
_
_
**_Total resources expended_**
**60980**
**60980**
**_Net incoming/(outgoing) resources_**
**_before transfers_**
**_Net movement in funds_**
**2204**
**-**
**2204**
**Total funds brought forward**
_
_
_
**_Total funds carried forward_**
**133873**
**- 133873**|**Total**
**last**
**year**
**£**
205000
_
_
**205000**|
|---|---|
||56990
107287
32200
_
**196477**|
||**8523**
_
131669|
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## **RHEMA INTERNATIONAL CHURCH (MILTON KEYNES) HOUSE OF PRAYER FOR ALL NATIONS**
|**Balance Sheet**
**as at 31 December 2020**
**Own**
**analysis**
**Unrestricted**
**funds**
**Restricted**
**funds**
NOTES
**£**
**£**
**Fixed assets**
**Tangible assets**
6
5,065.00
-
**Investments**
-
-
**_Total fixed assets_**
**5,065.00**
-
**Current assets**
**Debtors**
7
100,595.00
-
**Cash at bank and in**
**hand**
40,713.00
-
**Others**
-
-
**_Total current assets_**
**141,308.00**
-
**LessCurrent Liab**
**Creditors within one**
**year**
8
12500
-
**_Net current assets/_**
**_(liabilities)_**
**128,808.00**
-
**_Total assets less_**
**_current liabilities_**
**133,873.00**
-
**Ceditors: amount falling**
**due after one year**
0
-
**_Net assets_**
**133,873.00**
**-**
**Funds of the**
**Charity**
**133,873.00**
**-**|**Total this**
**year**
**£**
5,065.00
-
**5,065.00**
100,595.00
40,713.00
-
**141,308.00**
12500
**128,808.00**
**133,873.00**
0
**133,873.00**
**133,873.00**|**Total last**
**year**
**£**
5,135.00
-
**5,135.00**
100,595.00
25,939.00
-
**126,534.00**
0
**126,534.00**
**131,669.00**
0
**131,669.00**
**131,669.00**|
|---|---|---|
The financial statements were approved by the board and signed on its behalf by
Signature:...G.O. Assibey Name:..George O. Assibey Date:......28/09/2021
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## **RHEMA INTERNATIONAL CHURCH (MILTON KEYNES) HOUSE OF PRAYER FOR ALL NATIONS**
## **Notes to the financial statements For the year ended 31 December 2020**
## **1 Accounting policies**
The financial statements have been prepared under the historical cost convention and in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities (SORP 2005) and applicable accounting policies adopted in the preparation of the financial statements are as follows.
There have been no changes in the principal accounting policies since the previous year.
## 1.1 **Incoming Resources**
## **Voluntary income: donations**
Income from tithes and offerings is included in incoming resources when these are receivable.
## 1.2 **Resources expanded**
Resources expanded are included in the Statement of Financial Activities on an accrual base, inclusive of any VAT which cannot be recovered. Certain expenditure an attributable to specific activities and has been included in those cost categories.
## 1.3 **Tangible fixed asset and deprecation**
Tangible fixed assets for use by the Charity are stated at cost less depreciation.
## **Depreciation**
Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over expected useful lives on the following basis: Church equipment 2% on the reducing balance method Office equipment 2% on the reducing balance method Motor Vehicle 2% on the reducing balance method
9
## **RHEMA INTERNATIONAL CHURCH (MILTON KEYNES) HOUSE OF PRAYER FOR ALL NATIONS**
## **Notes to the financial statements for the year ended 31 December 2020**
**Dec-20 Dec-19 2 Tithes & Offering (including Gift Aid)** 63,184.00 - **63,184.00 205,000.00**
## **3 COST OF GENERATING FUND**
**3 COST OF GENERATING FUND 2020 2019 £ £** Welfare 6,000.00 18,970.00 Advertising 4,000.00 16,120.00 Summit & Conference Cost 0.00 21,900.00 **TOTAL 10,000.00 56,990.00 4 CHARITABLE ACTIVITIES: 2020 2019** £ £ Fuel And Oil 2,506.00 12,678.00 Council Tax 4,242.00 4,242.00 Insurance 2988.00 1500.00 Rent 17,500.00 55,847.00 Music Ministry 660.00 4,000.00 Anniversary, Outreach & Fellowship 6,353.00 24,350.00 Professional fees 1,000.00 2,700.00 Postage and Stationery 780.00 1880.00 Depreciation 70.00 90.00 **TOTAL 36,099.00 107,287.00**
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## **RHEMA INTERNATIONAL CHURCH (MILTON KEYNES) HOUSE OF PRAYER FOR ALL NATIONS**
## **Notes to the financial statements for the year ended 31 December 2020**
## **5 GOVERNANCE COST:**
|Administration Electricity, Tel|2020
£
**14,881.00**|2019
£
**32,200.00**|
|---|---|---|
## **6 TANGIBLE FIXED ASSETS:**
||**EQUIPMENT**|**FURNITURE**|**VEHICLE**|**TOTAL**|
|---|---|---|---|---|
||£|£|£|£|
|Cost|2,990.00|2,145.00|0|5,135.00|
|31 Dec Depreciation|40.00|30.00|0|70.00|
|**31 Dec Net Book Value**|2,950.00|2,115.00|0|5,065.00|
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## **RHEMA INTERNATIONAL CHURCH (MILTON KEYNES) HOUSE OF PRAYER FOR ALL NATIONS**
## **Notes to the financial statements**
## **for the year ended 31 December 2020**
|**7 Debtors**
Other debtors - Hopfan Ltd
**8**
**Creditors: amounts falling due within one year**
Other creditors|**2020**
**£**
100595
**2020**
**£**
12500
12500|**2019**
**£**
100595|
|---|---|---|
|||**2019**
**£**
0|
|||0|
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