TRINITY PRESBYfERIAN CHURCH OF GHANA LONDON CONGREGATION TRUSTEES. REPORT & FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Charity Number. 1093453
TRINrrY PRESBYfERIAN CHURCH OF GHANA LONDON CONGREGATION FINANCIAL sfATEMENfs FOR THE YEAR 31 DEMBER 2023 Page Charlty Infomiation Trustees & PresbrS Report Statemert of firkinaal actlvlties Balan sheet Notes to the firondal statements 7-13 Treasurerfs staterrEnt 14 Independent eyamlnerfs report 14
TRINrrY PRESBYfERIAN CHURCH OF GHAN LONDON CONGREGATION CHARrrY INFORMATION Mr David Osei - Ofori Mr Emmanuel Apau Danso Ms Beatrice Naa Bersah Mettle - Nunoo Ms Lydia Yaa Amoafo Ms Felicty Asantewaa Ms Rebecca Asantewa Darko Mrs Doris Owusu Mr Francls Kofi Katsy Mr Eric Kwame Nkansah Mr Wiafe Osei - Bonsu Mr Prince Kwame Osei - Tutu (Senior Presbyter) (Session Clerk) (Treasurer) Other Session Members Rev Dr Victor Okoe Abbey Rev David Asante Akuffo Mr Kwaku Amoako Ms Doreen Boateng Ms Linda Koranteng Oduro Reglstered Office Trinity Presbwerian Church of Ghana London Congregation SoLrth Lee Christian Centre Barlng Road London SE12 OPW Principal Banke Barclays Bank PIC Croydon Business C8ntre POBox3 1 North End Croydon Surrey CR9 IUF Charfty RegI$tIon No. 1093453 Accountants Peter Kwakwa FCCA CHARTERED CERTIFIED ACCOUNTANT 55 BaNille Close St. Norbert Road London SE4 2LN
TRINITY PRESBYfERIAN CHURCH OF GHANA LONDON CONGREGATION TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 Thé Trustees of the Church présent thair report togetherwith the financlal statements forthe year @nded 31 December 2023. The Trustees have adopted the provlsions of the Accounting and Reporting Charitl8s guid8 issued in 2008 and the Stateff£nt of Racommended Practice {SORP) in preparing the Annual Report and Flnanci81 Stat8m8nt of the Church. The Trustees are elected from th8 congr8galion by the entlre mgmbership of the Church through a secret ballot. They serve for 8 period of four years and are eligibl8 for reelection for another four year tern. The Trustaas control and manage the day to day activities of the Church. The Church inducted into offlce New Trustees on 13th August 2023. GOVERNANCE AND INTERNAL CONTROL The Trust6es m88t once a month, to discuss all relavant matt8rs. When r8quired, an emergency meeting can ba called outside these sch8duled meetlngs. Th8y have considered whether thera are any major risks that the Church may currently ba axposed to and, thus far, arè of the opinion that none 8XiSt. They considerthat, good flnancial Gontrol and monltoring thin the Tnjstees and the entire congragalj'on would serve to mitlgato any such risk that may comg up. OBJEcfivES Th8 oblectlves of the Church 18 to advance religlon In accordanc8 Wlth the Christlan Faith by m8an8 of education and tralning, the relief of poverty and rellgious actlvitles. PUBLIC BENEFIT STATEMENT Trfnity Presbyterian Church of Ghana, London Congr8gatk)n is a regi8t8r6d charity In the UK. Legally, all charities must cary out charitable purposes for public benefrt. The advanGgm8nt of rellglon is a recognised charitab18 purp08e. The Trustees rafer to the Charitles Commission's guldance on provlslon of Publlc Benefit 88 bast guide and practlce to follow. Tha Trustees ara of the opinion that on8 way the public can benefit Is by making ourfacilities avallable to the people who can make use of them to their benefit. W8 have therefora welcomed requests from various organlsations to make use of ourfaclllties at minimal or no cost. The Chuffjh premises and it8 facilit183 ara also put at the dlsp08al of 8adng Primary School, the bcal prlmary school. The Church takes It's responsibility as 8 charity seriously. The Church also helped to promote soclal well*>eing by supporting the actfvitles of some charities. It also seeks to be as Inclusive as possible In ts work and aims to reach out to people of all ages from dtff8rent ethnic and cultural backgrounds.
TRINITY PRESBYfERIAN CHURCH OF GHANA LONDON CONGREGATION TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 - continued FINANCIAL REVIEW The main source of funds for the Church are voluntsry contributlons through Offertories, Tith8S, Thanksgiving and Annual HaNests during Sunday Services. Details of the Church's Flnancial Activities for the year and the state of affai[3 as at 31 December 2023 are set on pages S to 13 The Church incurred a deficit of £14,742 from ordinary activitle8, (2022: £16,268 Surplus). RESERVES The Church needs to have sufficient reseNe8 to covgr knovm liabilttiés and contingencies, absorb any b8ses and take advantage of changes and opportunities. The Trustees provide forthis by putting asida a portion of our current unrnstricted Income as a resaNe against future unGertalntles. Havlng considered the source of Sncome, mainly, from donations and contiibutions by the congregatlon, and the extent to thich 8XP8nditure Is committed, it is th8 policy of tha Trustees to maintain the unrestrictsd reseN8s to a level approximating six months of forthcomlng unavoidab18 operatlonal 8xpendlturè, In deciding upon the raseNe policy, the Trustses wer6 guldad by: Llkely income in future year3. taking into account the rell8blllty of each income and the prospect for op6nlng up new Sources Likely income In future year5, taking Into account the rabability of @ach income Any future needs or opportunltles not likely to be met out of income Llk8ly axpendlture in future years on the basls of planned actlvlty T8king into a¢count the need to cover. Usual running costs Surplus funds to cover unfor8S88n 8xpend51ure Property repairs and maintenan Planned devebpmant Total funds held as at 31 Decomber2023 was £449,015 (2022 £455.585). Thes8 funds included £63,000 d8slgnated forthe building of a gall8ry and £144,090 belonging to gtDUPS Within the Church. Th8 tot81 free SerVeS is low. Thls is due to the joint effect of th8 Cost of Living Crisis resulting In an increase in demand for help and a reduction in donations. The Trustees aim to continuously build up the reSep in the coming y8ars.
TRINITY PRESBYTERIAN CHURCH OF GHANA LONDON CONGREGATION TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER2023-continued STATEMENT OF TRUSTEES RESPONSIBILITIES Th8 Trustees are responsible for preparing the Trustees, Annual Report and tha financial statements In accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). applicable to Charit188 in England and Wa18s require the Trustaes to pr8pare financlal statements for each financial year. This should gtve a true and fairview of the Charity and its incoming resources and application of resources of the Charity forlhat y88r. In preparing thesa financlal statements, the Trustees are required to: Select suEtable accounting polici8s and apply them consistently Obsepie the methods and principlés of the Charities SORP Make judgam&nts and estimates that are reasonable and prudant state whether applicable UK Acwunting Standards have been followed, subJect to 8ny material departures disclosed and oxplalned in the financlal statements Prepare tha financlal statements on th8 golng concem basls unl8SS It is in8pproprfate to presume that th8 charity wlll Gontlnue In operation The Trust8es are responsible for keeping proper accounling records whlch dtsclose with re880nable accurdcy at any time the financial position ol the Gharity and 8nable thém to ensura that th8 financial statements comply with th9 Charliles Act 2022 and tha Charity (Accounts and Reports) R&gulatlon 2008. Thay are also raspon8lbl8 for 8afagu8rdlng the as&et8 of the charity. Thay are rasponsible for taking rèasonable st8P8 forthe prevention and det8CtSon of fraud and other Irregularfti88. Signed on behalf of tha Trustees Mr David 0881 - Ofori Senior Pre8ber Ttustee Date:
TRINrfYpREsBYsfERIAN CHURCH OF GHANA- rATEMENf OF FIK4NCLALAcrIvirIES FOR THE PERIOD EIYDED 31 DEceMBER 2023 lln¢pstrktsdFuTrts TOTAL 2023 INCOMXNG RBSOURC Xnccffikng forcel from gtherattd frJnd% Vduntsry (ncame ActfrfQr qenerallng funds 441 rotal ineomlng r*ur¢ RESOURCts EKPENDED Cr4tsrfqenerallng fvndi Charifabk actbJfd2&' MlnL¢orful c Ccds cdchurch GIts payable and re5trkt¢d dcfflkfis pau>J on Gernance Sujth London Dbtrktsetup C¢%ts Wloff 224,1 746 N•t Inwmlng1{outgolny) before tsangfe (14742) 8An (6W70) m9¥••rt Intund• (14742) (4570) Tatal blfvA l Jlnuary 2023 134916 DJ 454585 Trfal Rftsow ¢lfvA 31 D•¢•mhr 2023 241927 £ INth1n (+4ty•10> Th• notes on pagés 7 10 13 faTh p8rt of Ih8B• fin8ndal 41al•ffnts
TRINrrY PRESBYTERL4N CHURCH OF GTrL4NA LONDON CONGREGATION BALANq SHEET AS AT 31 IXCEMBER 2023 TOTAL Fund5 Tangoth axets Invsbnents li 658,05) Bankand ash balln 4%650 123, CURRENT LIJBILrrIES Credtor5 payable thln on•yur NEf CURRENT ASWS TQTAL ASSEfs LSS CIIRRENT LTABIUTI Crèlitors payth th)ne year Z89,9S5 TOTAL NEf A%Ers 336 The FUNDS OF THE CHARfTY Fund$: GeTh Unrlcted fund5 DesFJn•tal Unr*ktal fiJnd$ 241927 241, 144,088 144, Rethcted fundi (o) APPRONEO by Ihechurch Meeung ¢n .................-..... . and sbjned on ts beha by Beatrktt Méd•. Nunoo lTru#tt) (Slgnabjre) Th• noteson 7t0 13 form pirtrfthuefm4nclJl slatmts
TRINrrY PRESBYfERIAN CHURCH OF GHANA LONDON CONGREGATION NOTES TO THE sfATEMEKf OF FINANCtALAcrIvIriES FOR THE YEAR ENDED 31 DECEMBER 2023 ACCOUNTING POLICIES Bass rf A¢(ounting The ancIal 5tsternts have been prepared in accordance wlh the Snlt rf Recorbrndthl Prndlce." Accwnting and RePting by Qjarltks (SORP J05) k4sued by the Charfty CcrnThus51tsJ. The accruats ba of accwnting has been adopt•4, and the prlnclpal accounting pdkle5 set out betthv are appllej conslthnuy. Ib Fund Accaunliry Unreicted fvnds are avallable for use atthe dTscrekn of the church in furthorance ctts charHable obSrftivts. Restricttsd fvnds are subjoctsd th 0xpdIre lftwct&J by th& dcn¢Y, or contalned ID grant EndcvhrtRntfvnds are fvnds th• captsl h[ch rrntrt be MtsIn,. norrr01 Inccffli arlslng from Investr[t ofthe endDhTr%nt may be u%d, eith•r as restrth c¢ unrericted fund6 dependSn9 on the PurpC and terrn thkh the endowrrttttNwblthed. Tangthk Flxed Awets l C¢n9 rnore than £l,OCQ are capitsll5d. Oepre£LIth)n b prlded cm tangfole fixed aets at the follong annual rate5 cjkulatsd tQ VIT (If Bssets over thdr esUTrTrtsd us¢fiJl INe5: Freohdd Property & thurch Manse Chr Corrnllunlon rups ind Musk4 knrtruments EquIpWn¢ Fthir•B & FILVngi Motor Veh1# cer 50 years IO% stralyht Ilno (cwer Ioyears) 25% stralght llne (swer 4years) 25% #ralght llne (tyar 4yws) Zncomlng Rewurcas All vc4untsry gfvlng 15 lllcludthl in the flnènchl slatementsfor the pericl In vknlch It Is reGefv•l. OCatiOnS under Ajd plusthe a1th tsx reeovtry are rec¢¥Jnkod as Income vthen th La(18$ are accounted Wh thar rect15 CIrtn and Can b• pr¢per qUanfied. JI th•r Incorn k gen•r411y rewnlAd vth•) It Is r•cavable. le Expended Rtsrces pended are recLvJntfed kn the porKé tovthith they are incurrd and Include altributsblo VAT vthtch cannot be recovered. ThEy aT¢ ¥Iated to the particuLJr athty to vthiGh they rekit& GcweJnan¢e ccsts represent dlrett •xpondlbJre on the gl¥nanc4 rftho chuKh, Includlng tha producll¢n and kndependent f£rutiny rftheE fin¥nclal statements. As nKt ofthe mnagrntand a(tsvity ofthechurch Is c¥rfeAI out by vdunteers, this trAgIble co b nct Included In the ffnanclBI tsrfflents a5thisvdunty CctrttLn bthe IKO of the church incalculabh. If Taxatlon The church [5 a reqlthred charlty thln the manlnq Lf the T$ Act& According t p(entklty e<ofipt from taxation in respectrfj Inc and captsl galns reGeived to the extentthat such income or galns are apPld to chartsblo Purpo No provb)cfi fcr tttL has been npd¢ In these flnanclal atern8nl
TRINITY PRESBYfERIAN CHURCH OF GHANA LONDON CONGREGATION NOTES TO THE STATEMENT OF FINANCIALACTivmES- continued FOR THE YEAR ENDED 31 DECEMBE,R 2023 Urnthctsd Geneol TOTAL TOTAL gnat FwLds VOLUNTARY INCOME Tlthe5and offer9$.. Generdl CO1ctionS Mu Sunday rithes Gfft aid - Tax rofvnd Sundrf Insuran L055 of Eamlngs AnDeY Cloth Spe¢lal Offerfngs and donatlDns Thanks Offethig 51697 Sl697 443 10,9)3 4,415 4,415 ACTIVrn FOR GENERATING FUNDS Church lettings nd rèwg wents: Harve Group PJnd$ INVESfMTINCOMt Bank Interest Jlty ReA•rd 495 q95 S18 cosrs OF GENERATXNG FUNDS rffvnd raising wents H¥ve5t expeftdbjre 1385 Unrn¥tskiwl FMnd8 •n•AI Reslrfrt Punds TOTAL MINIStERTAL COS15 3SOqI 4Jo 35,041 Other Dlstrict Expen Europe Prubytery MlnlerslPreachers w)enses Wag¢%. C*&hist
TRINrrY PRESBYfERIAN CHURCH OF GHAIIA LONDON CONGREGATION NOTES TO THE STATEMENT OF FINANCtAL AcrnirrIES- Continued FOR THEYEAR ENDED 31 DECEMBER 2023 TOTAL Fund4 costs OF CHURCH ACTIVrnES Church c05t&' Mrtag• Serncing Insurance Water ratrs Buldings letshmEnt & maintenince eiectrl¢lty Gas ae•lng ¢xpens2s Churth Band e%pen5es Sakrtes for AdTnini¥ratlon Cincluded In Nrte 11) Nation)I InsuranGe & Pay as Ear Conference Expen5BS Church and General Weware Junlor Yojth e¥penz5 Grace Trn Expen Cornmunton Expen 22,109 6,653 21109 479 24, 6,477 6,fK13 9,635 4yO 4,lJJO 3,419 9,635 9,559 7.587 670 7,5B7 670 110 435 Managenntand Partage & Stationery Motor &Travd Wensgs T4lephone wen Crynputing even 64nk charge5 Rental rfequlpment fixed A Under £LCAIO Aarm Sundrye<pens•s 1,795 9,657 8,524 501 iSC6 14,165 1795 4573 15)6 14,165 312 1837 591 4473 591 other prC4ramrn. Hryfcalty £¢pense4 Grp w)enxs 4411 4,269 Other expense5 Lwllprofft) ¢)n disp¢)Al of tsnglbte ag Deprtttatton and Annfvsary aLh Annwry Cc Annfvw2ary Dlnner Dance Other AnnNYSary Expenses 2L702 2L2 783 (20) (3))
TRINrrY PRESBYfERIAN CHURCH OF GHANA LONDON CONGREGATION io NOTES TO THE sfATEMEKf OF FINANCIAL AcfIvmES- continued FOR THE YEAR ENDED 31 DECEMBER 2023 Funds 2023 DONAIIONS Oiher donations 746 746 1,750 746£ 746 £ 475V GOVERt4ANCE COSTS Independent Examiner Training costs ACcnng sCes Legal Fees 1,200 873 loo 2,911 1,200 873 loo 2,911 1,2L 10 EMPLOYMENTcosrs Wage5 and salarles Employ5 NIC I7,6Cl 17,600 No employee recelved efftjluments of more than £60,C¥JO Durfng the year, the Trust had many voluntsry *aff No salaries have been pald to Trustses durtng the year.
LL ., k 000 LL LL. U. .11 kl U,
TRINrrY PRESBYfERXAN CHURCH OF GHANA LONDON CONGREGATION 12 NOTESTO THE STATEMETrif OF FINANCtAL AcrIvIriES- contlAuad FOR THE YEAR ENDED 31 DECEMBER2023 TofAL 2022 Gen•rnl Funds 2023 BANKAND CASH BALANCES Barclays Premlum Barclays Curr•nt 4370 4514 63,000 Grp funds Cash In hand ,650 3 497 £010 14 CIAiRENT LIABILrrIES Credbrs payabte thIn y¢4r: Lcans- Mutgagefr¢Jn Barcla¥5 Bank Pk < lyr (nots 16) Swth London DWrirtAet Independent ExamTn¢r The Thrtgage frcm Bar¢lays Bank PIC balance cf £33,CKQ (. E33,000) included In current IlabllRt&s reprtsents the tha princlpal payAble ¥thln one year. LONGTERM LXABILMES Credors pBy7bte aft•r mm than cfie yw: Lo)ns. Mrrftqagefrom Sarclays Bank Pk > lyr Mortgag• from Barc]ay6 Bank Pk < lyr ffljr (not¢ IS) 3ug65 (33,0) 3Z1965 (33,ODJ) (3406VJ The n?e b3n from Barclys ts secured on the Church prarfses and the church manse. 16 REsriucrED FUNDS The re#rktrd fvnds in the year and tho Pr&1(¥ bthe bulldkng fvnd thfGh r•rrnlnsthe spme
TRINrrY PRESBYfERJAN CHURCH OF GHANA LONDON CONGREGATION 13 NOTESTO THE sfATEMENT OF FINANCIAL ACTIvifIES- continued FOR THE YEAR ENDED 31 DECEMBEk2023 17 UNRtsTrICTED FUNDS At lJan23 Incomlng resouM8 Outgoing sourceg At 31D&23 TTrnsler eral ndS (147 24¥927 DESI(&NATED FUNDS At In¢omlry l Jan 23 f01 Oiitgolng YsoU2 Ln 3XDtt23 Bulljlng fvnds PCG TV lth Annfverary Ckth & T-shtrt Evetyn Du4h Grace Br71 Bibk Scrlety Adu offertrY 6300 63,000 705 705 567 247 knpaabeng Kyererrnh Henaku urch Wehre FeTrMhlp Slnglng 8&nd YPG YAF 81bla Stsdy & Prayer Group Men's FellOthIp nljr Y Chmdren Servke Church Chdr Mu Sunday Presbyters C(fr[en£0 Pr&yterbn Church clGhana- Land Depoi Europe Pre£bYY- Colkctlon Eurq>e Presbytsry- Man pUh15£ Uhwie- Appal Moderatijr Appeal lor Funds 30 1283 1,765 17,706 10,741 70 712 4035 3,331 6,621 4070 6,616 7,315 11,315 5,274 1230 638 g)0 177 177 961 There 5 no holpltslty pakl kn iny Truth durkno the yw (2O-NI). In N¢)te 7, und& AlrrfnLative no Tru5 wEre palll £ (7JJ22- NIL) 20 coNGENT UABILITY PdIng lrfdgauon Invoe5 legal c1 agah# the Chariy th npy be at • p¢xnt In The tyJtoTh* ofthe pikntial hasyetto be determlned but ¢jId have negknfvknre iryarton the tharty.
TRINrrY PRESBYfERIAN CHURCH OFGHANA LONDON CONGREGATION 14 FINANLIAL sfATEMENfs YEAR ENDED 31 DECEMBER 2023 TREASURER'S sfATEMEKr I have prepared the financw aatryYnts on pages i th 13 for the year end& 31 DKember X)23. INDEPENDEKf EXAMINER% REPORT I report cfj the accounts ofTrfnlty Preytwkn Church olGhana- Loidcn Cgrj1C fcf the year ended 31 Dtser 2023 lch are p4£$ I to 11 Rqspe¢Uv¢ MspoThslbllltles of •Thl Xrylependert Examlner the Ch'sTrueeS VCAJ are reonb fty the greparati(n dthe accounts and con9der th the Charity'sTrues C15{der that JJd5t Is nrt rUired fcr this vear undv Sectt 144(2) dthe Charl(ie5 kt 1993 (the Act 11 (the Illl Act) and that an Independent exaana110n Lq naexl. Havkng sltsl that the Charty b nr sJbJert lo audfc under th¢ cOpanY I and i5 degibie fDr Indedent examhatlcffl, It b ry re83b1 to: l. exBrrdne the acccunts under secU¢m 145 ofthe 3)11 Art. Z tDft41wthe predureS lald dcwm In the General Dlrecbms awen by the Charfty Comn4n undw Section 145(5)(b) olthe 3Jll Act 3. tDte paular ffotters have COMB io my Basis of Indewdent Examln•rfs statsment My e¥athaticn carrted wt in accrydance 1th the General Dlrecuons ofthe Charty cornrr. An examlnadon tncbjdes a reN0fth¢ accwnting recLYds keptby theCh and a conparixn rfthe accounts presenbl re£tYds. It alg) Includes ccnslderatbjn of unual Iteffs dksJres tn the aCcn and &ing VAplanèttcns from asTruees concwnlng any wch rrotters Ihe procedures uqdertékuj do nLt prrfIe all the [dcethat1d be requlr&J In an audK and c(WUenY no CPlnicn1s giyen asto her the accLwnts prat a true and fair and the repcrt i8 nmiiej to tho out In the sirrEnt bej0. Indend4Tht EMmlnorf 8latan•rt In ccrtnectian th nw exarthatl(n, no rnattff has cwr to my atienticm: (r) wthlch gfves re3>able£au to beltevethat In any wettthe requeMlS. - to keep proper accnting records in Kcordance wlh sxtion IX¢ rfthe 2011 A¢ and - to prepare acc(wnts thich acccd the a¢counllng re¢ords to compw the acthJnting r4uir•ronts ofthe 2011 Act have nct been (l) loh, In pin be reached. tion should be dravffl kn order to enab]2 a prcper underandng clthe accoun Peter Kwakw FCCA CHARTERED CERTIFIED ACCOUNTANT 55 Baryille Close SL Norbert Road London SE4 2LN Datr: .... 1.1..4 |