2023-09-30-accounts - International Prayer Palace Church

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Charity No.1092224

International Prayer Palace Church Trustees Report and Financial Statements For the year ended 30 September 2023

International Prayer Palace Church

Information For the Year Ended 30 September 2023

TRUSTEES

Mr Simeon Nyante Mr Jonathan Hubbard Ms Rama Dasoji

Mr Jonathan Hubbard

REGISTERED OFFICE

8G Harding Way

St Ives

Cambridgeshire

PE27 3WR

CHARITY NUMBER

1092224

ACCOUNTANTS

Rocksons Chartered Certified Accountants

Suite 8 Stewart House 56 Longbridge Road Barking, Essex IG11 8RW

International Prayer Palace Church

Contents For the Year Ended 30 September 2023 Table of Contents

Statement of Assets and Liabilities……………………………………………………11 Notes to the Statement Of Financial Activities………………………………………12

International Prayer Palace Church

Trustees' Report For the Year Ended 30 September 2023

Aims and objectives

The principal objects of the charity are to advance Christianity enabling as many people as possible to worship at our church and to become part of our Christian community. When planning our activities for the year, we have considered the Charity Commission's guidance on public benefit and, in particular, the specific guidance on charities for the advancement of religion. We encourage ordinary people to live out their faith as part of our Christian community through:

Worship and prayer; learning about the Gospel and developing their knowledge and trust in Jesus Christ
Provision of pastoral care for people living in the community
Missionary and outreach work

Summary of the main achievements during the period:

Worship and Prayer:

International Prayer Palace Church as a ministry has continued to give worship and prayer to members. We have programmes during weekdays and weekends. Prayers are also offered through home cell or house groups where the focus is on individual needs. This system of approach has in our opinion brought a lot of spiritual and social benefit to the community. The Worship Ministry of the church has the vision of focusing first on God and secondly on serving the needs of the local congregation. We seek to combine different talents in the church in vibrant worship services and special events. Our mission is to reach the youth, the locals and the entire community.

Pastoral and Care:

The trustees have ensured that every member of International Prayer Palace Church has been attended to throughout the year. International Prayer Palace Church has a strong pastoral team that ensures that counselling and moral guidance is rolled out effectively. Pastoral care is given under the strums of counselling, career and education. Teaching programmes are scheduled throughout the year in partnership with other ministries in the community. Members of International Prayer Palace Church are encouraged to contact the pastoral team should they need any help.

Mission and Evangelism:

We evangelise and follow up those who want to know more about Christianity. We continue with them in our outreach programme focuses to discipleship training

International Prayer Palace Church

courses. We endeavour to help locally and internationally.

Church Activities of Public Benefit:

In addition to the general achievements mentioned above, the following specific activities which we deem fit for public benefits were undertaken during the year:

We provided care and support by way of church services, prayer meetings and counselling to prison inmates in Cambridgeshire. We also supported some of them when they come out of prison by setting up a rehabilitation programme enabling them to gain self-confidence to fit back into society.
We organized free summer trips for less fortunate families during school breaks. We run a youth and kids club; organize discos, video evenings, quizzes, dance and spelling competitions for them.
We train youth in the community to play musical instruments and work on sound and technical equipment to divert their interests from the streets and low lifestyle and to gain interest in endeavouring to achieve ambitions.
We provide care and support to Coneygear Homeless Shelter by way of food and
toiletries supplies to residents, counselling, and providing some with transportation for school drops and pickups.
We provided soup kitchen to the elderly and disabled in the community and organise games for them. We also provide transportation for those who need them to go on day trips to the shops, coffee shops and hairdressers.
We provide computer and internet facilities for some vulnerable people in the community who need such facilities to enable them find jobs, apply for benefits, or contact friends and family by email etc. at a period in their lives when they do not feel ready to use public facilities such as libraries and job centres.
The International Prayer Palace Church cares for an abused mother and her three children in Ghana supporting them by providing accommodation and safe environment.
The Prayer Palace Church, in association with the Huntingdon Community Group and the Mayor of Huntingdon, organizes annually a highly successful multicultural fashion show in Huntingdon promoting unity in the community with the project.
The Prayer Palace Church is invited annually by the Huntingdonshire District Council to offer prayers before the council’s major annual corporate meeting will commence.
The International Prayer Palace Church cares for a Congolese refugee family of six in Nairobi by supporting them to have a better life enabling them to eat a decent meal and provide education for the children.
The Prayer Palace Church organises ‘Christmas Feeding The Community Project’. This is cooking a hot Christmas roast turkey dinner for those who wouldn’t have had it otherwise such as the street people, the lonely, young carers and the elderly.
We are heavily involved in prison ministry in Cambridgeshire. We visit inmates, organise church services and bible studies as well as providing counselling sessions for them. We also offer support for ex-young offenders to feel safe to fit back into society.

International Prayer Palace Church

Financial review

The total incoming resources of the church during the year amounted to £84,567 (2022 £64,561).Of this total £52,263 (2022 £50,423) was derived from general tithes and offering from members and £16,538 (2022 £12,170) from Gift Aid tax refunds. The rest of the incoming resources was derived from other sources and amounted to £15,766 (2022 £1,968).

The total resources expended in the year amounted to £84,713 (2022 £62,672) leaving a net deficit of £146 (2022 net surplus £1,889 ).

Funds

No part of the funds of the church is under any form of restriction.

Statement of financial rresponsibilities of the trustees

Law applicable to charities in England and Wales requires the trustees as managing trustees to prepare financial statements for each financial year. In preparing those financial statements the trustees should follow best practices and;

I. Select suitable accounting policies and then apply them consistently
II. Make judgement and estimates that are reasonable and prudent.
III. State whether applicable accounting standards have been followed subject to any materials departures disclosed and explained in the financial statements.
IV. Preparing the financial statements on the going concern basis unless it is inappropriate to presume that the church will continue in business.

The Board of Trustees is responsible for keeping proper accounting records, which disclose with reasonable accuracy at any time the financial position of the church and to enable them to ensure that the financial statements comply with the Charities Act 2011 and the Charities (Accounts and Reports) Regulation 2011. They are also responsible for safeguarding the assets of the church.

Signed on behalf of the charity's trustees:

Simeon Nyante

Date: 26 July 2024

International Prayer Palace Church

Independent Examiner’s Report For the Year Ended 30 September 2023

I report on the accounts for the year ended 30 September 2023 which are set out on pages 8 to 14

Respective responsibilities of trustees and examiner

The charity's trustees consider that an audit is not required for this year (under section 144(2) to the Charities Act 2011 (the Act) and that an independent examination is needed. It is my responsibility to state, on the basis of procedures specified in the General Directions given by the Charity Commissioners (under section 145(1) (a) of the Act), whether particular matters have come to my attention.

Basis of independent examiner's report

My examination was carried out in accordance with General Directions given by the Charity Commissioners. 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 I do not express an audit opinion on the view given by the financial statements.

Independent examiner's statement

In connection with my examination of the church funds , nothing came to my attention

which gave me cause to believe otherwise than that the financial statements accord with the accounting records of the church, and that those records satisfied the requirements of the Act.

I am not aware of any matter to which attention should be drawn in order to enable a proper understanding of the financial statements to be reached.

Mr Alexander R Kludje MBA, FCCA

Signature: Date: 26 July 2024

Rocksons Chartered Certified Accountants Suit 8 Stewart House, 56 Longbridge Road Barking, Essex IG11 8RW

International Prayer Palace Church

Receipts and Payment Account For the Year Ended 30 September 2023

Notes RECEIPTS Voluntary Receipts Planned Giving Tax Refunds Donations- building fund Grants Hall/Property & others Investment Income: Other Incoming Resources Investments Realised Total Receipts PAYMENTS	Unrestricted funds Designated funds Restricted funds Endowment funds 2023 2022 £ £ £ £ £ £ 52,263 52,263 50423 16,538 16,538 12,170 7,322 0 0 7,322 0 0 0 0 - 0 8,444 8,444 1,968 0 0 0 0 0 0
	84,567 0 0 0 84,567 64,561.

International Prayer Palace Church

Church Activities

General Parish Expenses Total Payments NET SURPLUS/(DEFICIT) FOR YEAR Net Surplus/(Deficit) For Year Cash/Bank Balance 1 October 2022 Cash & Bank Balance 30 September 2023	84,713 0
	84,713 - 0
	(146) - 0
	(146) - 1,999
	1,853 - 0

The notes on pages 12 to14 form part of these accounts

International Prayer Palace Church Statement of Assets and Liabilities For the Year Ended 30 September 2023

Statement of Assets and Liabilities For the Year Ended 30 September 2023
	Notes Unrestricted Designated		Endowment	This Year	Last Year
	Funds £	Funds £	Funds £	Total £	Total £
Monetary assets
Cash Balances	1,783			1,783	100
Bank Current Accounts	69			69	219
Deposit Accounts	1			1	1,600
Totals	1,853	-	-	1,853	1,919
Assets retained for Church
Floats	200			200	200
Tangible Assets	6,220			6,220	6,700
Other monies due to church	0			0	0
	6,420			6,420	6,900
Liabilities
Falling due within one year	3,600			3,600	2,700
	3,600	0	0	3,600	2,700
Approved by the Board of Trustees on 26 July 2024 and signed on their behalf by:
Simeon Nyante

International Prayer Palace Church Notes to the Accounts

For the Year Ended 30 September 2023

1. Accounting policies

The Financial Statements have been prepared in accordance with both the Charities Act 1993, Section 42(3) on the Receipts and Payments basis, and the Church in England and Wales Accounting Regulations.

2. ANALYSIS OF FUND MOVEMENTS FOR THE YEAR

(i) UNRESTRICTED FUNDS may be used by IPCC for any ordinary purposes. The movements in the fund are shown in the Receipt and Payment Account.
(ii) DESIGNATED FUNDS represent sums set aside, out of ordinary unrestricted funds, for specific designated purposes, but they can be transferred back into general funds at any time.

FUND NAME FUND PURPOSE Bal 1 Oct 22 Receipts Payment Bal 30 Sep23

Totals (per Receipt & Payments Account) 0 0 0 0

Notes:

International Prayer Palace Church

(iii) RESTRICTED FUNDS represent either income from trusts or endowments which may be expended only on those restricted objects provided in the terms of the trust or requested, or donations or grants received or invited for a specific purpose. The funds may only be spent on specific purposes for which they were given. Any balance remaining unspent must be carried forward as a balance on that fund and cannot be absorbed into general funds.

FUND NAME FUND PURPOSE Building Fund Acquiring church building Totals (per Receipts & Payments Account)	Bal 1 Oct 22 Receipts Payments Bal 30 Sept 23 0 0 0 0
	0 0 0 0

International Prayer Palace Church

Notes:

(iv) ENDOWMENTS FUNDS are funds whose capital must be maintained: only income arising from the investment of the endowment may be used either as restricted or unrestricted funds depending upon the purpose for which the endowment was established.

FUND NAME FUND PURPOSE Bal 1 Oct 22 Receipts Payment Bal 30 Sept23 Totals (per Receipt & Payments Account) 0 0 0 0 Notes: ASSETS FOR CHURCH PURPOSES 30 Sep 2023

Tangible assets recognised and valued in the Statement of Assets and Liabilities include: Computers, Fixtures & Fittings, PA system, keyboard and overhead projector

Assets recognised but not valued in the Statement of Assets and Liabilities include a van.

1. INVESTMENTS

There were no investments.

International Prayer Palace Church NOTES TO FINANCIAL STATEMENTS YEAR ENDED 30 SEPTEMBER 2023 ANALYSIS OF RECEIPTS AND PAYMENTS ITEMS

Unrestricted Funds £ Designated Funds £ Restricted Funds £ Endowment Funds £	This Year Total £	Last Year Total £
52,263 7,322 0 16,158 0 8,444	52,263 7,322 16,158 0 8,444	50,423 0 12,170 0 1,968
84,567 0 0	84,567	64,561
(1,598) (8,299 (26,841) (1,262) (3,547) (4,865) (2,694) (903)	(1,598) (8,299) (26,841) (1,262) (3,547) (4,865) (2,694) (903)	(1,566) (3,388) (27,757) (793) (2,040) (3,824) (1,802) (1,353)

International Prayer Palace Church

Telephone (1,935) Website & other computer cost (4,534) Motor expenses (5,569) Travelling and similar costs (3,540) Legal & professional (1,977) Accountancy 0 Bank Charges (159) Books, tapes & training 0 Youth training (6,721) Fixed asset expenses (New Building) (0) Premises costs (including repairs) (5,611) Sundry expenses (2,985) Charitable donations-Other (1,350) Subscriptions (323)	(1,935) (4,534) (5,569) (3,540) (1,977) 0 (159) 0 (6,721) 0 (5,611) (2,985) (1,350) (323)	(1,682) (3,420) (2,881) (1,242) (1,613) 0 (303) 0 (1,332) (4,077) (884) (1,378) (887) (450)
	(84,713)	(62,672)
	(146)	1,889
	This year 0	Last year 0

	(84,713)	(62,672)
	(146)	1,889
This year		Last year
	0	0

PAID EMPLOYEES Gross wages and salaries

International Prayer Palace Church Employer's national insurance costs Pension contributors Total staff costs Average number of employees in the year PAYMENT TO IPCC MEMBERS Expenses paid to trustees (other than clergy/ministers) Number of trustees paid expenses	0 0	0 0
	0	0
	0	0
	Thisyear	Lastyear
	0	0
	0	0
	0	0