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 DE￿MBER 2023 Page Charlty Infomiation Trustees & Presb￿rS 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 Pre8b￿er Ttustee Date: TRINrfYpREsBYsfERIAN CHURCH OF GHANA- rATEMENf OF FIK4NCLALAcrIvirIES FOR THE PERIOD EIYDED 31 DEceMBER 2023 lln¢pstrktsdFuTrts TOTAL 2023 INCOMXNG RBSOURC Xnccffikng fo￿rcel from gtherattd frJnd% Vduntsry (ncame Actfr￿fQr qenerallng funds 441 rotal ineomlng r**ur¢ RESOURCts EKPENDED Cr4tsrfqenerallng fvndi Charifabk actbJfd2&' MlnL¢orful c Ccds cdchurch GI￿ts payable and re5trkt¢d dcffl*kfis pau>J on G￿ernance 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•ff￿nts 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￿ Unr*lcted 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 slatm￿ts 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 5tster￿nts have been prepared in accordance wlh the S￿￿n￿lt rf Recorbrndthl Prndlce." Accwnting and ReP￿ting 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 Unre*icted fvnds are avallable for use atthe dTscrekn of the church in furthorance ctts charHable obSrftivts. Restricttsd fvnds are subjoctsd th* 0xp￿dI￿re lftwct&J by th& dcn¢Y, or contalned ID grant EndcvhrtRntfvnds are fvnds th• captsl ￿￿h[ch rrntrt be M￿tsIn￿,. norrr01￿ Inccffli arlslng from Investr[￿t ofthe endDhTr%nt may be u%d, eith•r as restrth c¢ unre*ricted fund6 dependSn9 on the PurpC￿ and terrn thkh the endowrrttttNw*blthed. Tangthk Flxed Awets l C¢￿￿n9 rnore than £l,OCQ are capitsll5d. Oepre£LIth)n b pr￿lded cm tangfole fixed a*ets at the follo￿ng annual rate5 cjkulatsd tQ VIT￿ (If Bssets over thdr esUTrTrtsd us¢fiJl INe5: Freohdd Property & thurch Manse Ch￿r Corrnllunlon rups ind Musk4 knrtruments EquIpW￿n¢ Fthir•B & FILVngi Motor Veh￿1# c￿er 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 peric*l In vknlch It Is reGefv•l. OC￿atiOnS under Ajd plusthe a￿1th￿ tsx reeovtry are rec¢¥Jnkod as Income vthen th L￿a(18$ are accounted Wh￿ thar rec*t15 CIrt￿n and Can b• pr¢per￿ qUan￿fied. JI th•r Incorn k gen•r411y rewnlAd vth•) It Is r•cavable. le Expended Rts￿rces ￿pended are recLvJntfed kn the porKé tovthith they are incurrd and Include altributsblo VAT vthtch cannot be recovered. ThEy aT¢ ¥I￿ated to the particuLJr athty to vthiGh they rekit& GcweJnan¢e ccsts represent dlrett •xpondlbJre on the g￿l¥nanc4 rftho chuKh, Includlng tha producll¢n and kndependent f£rutiny rftheE fin¥nclal statements. As nK*t ofthe mnagrntand a(tsvity ofthechurch Is c¥rfeAI out by vdunteers, this ￿trAgIble co* b nct Included In the ffnanclBI *tsrfflents a5thisvdunt*y Cc￿tr￿￿ttLn 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 lyr Mortgag• from Barc]ay6 Bank Pk < lyr ffl*jr￿ (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 f￿0￿1 Oiitgolng Y*soU￿2 L￿n 3XDtt23 Bulljlng fvnds PCG TV lth Annfverary Ckth & T-shtrt Evetyn Du4h Grace Br*7￿1 Bibk Scrlety Adu offert￿rY 63￿00 63,000 705 705 567 247 knpaabeng Kyererrnh Henaku urch Wehre FeTrMhlp Slnglng 8&nd YPG YAF 81bla Stsdy & Prayer Group Men's FellO￿thIp nljr Y Chmdren Servke Church Chdr Mu* Sunday Presbyters C(￿fr[en£0 Pr&yterbn Church clGhana- Land Depo*i Europe Pre£bY￿Y- Colk*ctlon Eurq>e Presbytsry- Man* pU￿h15£ 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& AlrrfnL*ative no Tru**5 wEre palll £ (7JJ22- NIL) 20 co￿￿NGENT UABILITY P￿dIng lrfdgauon Invo￿e5 legal c￿1￿￿ 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 aatryY￿nts on pages i th 13 for the year end& 31 DKember X)23. INDEPENDEKf EXAMINER% REPORT I report cfj the accounts ofTrfnlty Pre*ytwkn Church olGhana- Loidcn C￿gr￿j1￿C￿ fcf the year ended 31 D￿tser 2023 ￿lch are p4£$ I to 11 Rqspe¢Uv¢ MspoThslbllltles of •Thl Xrylependert Examlner the Ch￿'sTru￿eeS VCAJ are re￿on￿b￿ fty the greparati(n dthe accounts and con9der th* the Charity'sTru*es C1￿5{der that￿ JJd5t Is nrt r￿Uired fcr this vear undv Sectt￿ 144(2) dthe Charl(ie5 kt 1993 (the Act ￿11 (the Illl Act) and that an Independent exa￿ana110n Lq naexl. Havkng s*ltsl that the Charty b nr* sJbJert lo audfc under th¢ cO￿panY I￿ and i5 degibie fDr Inde￿dent examhatlcffl, It b ry re8￿3b1￿ to: l. exBrrdne the acccunts under secU¢m 145 ofthe 3)11 Art. Z tDft41wthe pr￿edureS lald dcwm In the General Dlrecbms awen by the Charfty Comn*4*n undw Section 145(5)(b) olthe 3Jll Act 3. tD*te pa￿ular 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 r￿eN0fth¢ accwnting recLYds keptby theCh￿ and a conparixn rfthe accounts presenbl re£tYds. It alg) Includes ccnslderatbjn of unu￿al Iteffs ￿ d*ksJres tn the aCc￿n￿ and *&ing VAplanèttcns from asTru*ees concwnlng any wch rrotters Ihe procedures uqdertékuj do nLt pr￿rfIe all the ￿[d￿cethat￿1d be requlr&J In an audK and c(WUen￿Y no CPlnicn1s giyen asto ￿her the accLwnts pra￿t a true and fair and the repcrt i8 nmiiej to tho* out In the si*rrEnt bej0￿. Inde￿nd4Tht 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 requ￿eM￿lS. - to keep proper acc￿nting records in Kcordance wlh sxtion IX¢ rfthe 2011 A¢ and - to prepare acc(wnts ￿thich accc*d the a¢counllng re¢ords to compw ￿ the acthJnting r4uir•ronts ofthe 2011 Act have nct been (l) lo￿￿h, In pin be reached. tion should be dravffl kn order to enab]2 a prcper under*andng clthe accoun Peter Kwakw FCCA CHARTERED CERTIFIED ACCOUNTANT 55 Baryille Close SL Norbert Road London SE4 2LN Datr: .... 1.1..4 |