TRINITY PRESBYfERIAN CHURCH OF GHANA LONDON CONGREGATION TRUSTEES. REPORT & FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Charity Number: 1093453
TRINrrY PRESBYTERIAN CHURCH OF GHANA LONDON CONGREGATION FINANCIAL STATEMENTS FOR THE YEAR 31 DECEMBER 2024 cOEs Page Charity information Trustees & Presbyters Report Statement of financial attimties Ealance sheet Notes to the financial statements 7-13 Treasurer's statement 14 Independent examiner's report 14
TRINITY PRESBYfERIAN CHURCH OF GHANA, LONDON CONGREGATION CHARrrY INFORMATION Tnrtees Mr David Osei- Ofori Mr Ernmanuel Apau Danso Ms Beatrice Naa Bersah Mettle - Nunoo Ms Lydia Yaa Amoafo Ms Feli¢ity Asantewaa Ms Rebecca Asantewa Darko Mrs Doris Owusu Mr Francis Kofi Katey Mr Eric Kwame Nkansah Mr Wiafe Osei- Bonsu Mr Prince Kwame Osei - Tutu (Senior Presbyter) (Session Clerk) (Treasu rerl Other Session Members Rev Dr Victor Okoe Abbey Rev David Asante Akuffo Mr Kwaku Amoako Ms Doreen Boateng Ms Linda Korant8ng Oduro Registered Office Trinity Presbyterian Church of Ghan8 London Congregation South Lee Christian Centre Baring Road London SE12 OPW Prlncipal Bankers Barclays Bank Ple Croydon Business Centra P08ox3 1 North End Croydon Surrey CR9 1 UF Charity Registrntion No. 1093453 Accountsnts Peter Kwakwa FCCA CHARTERED CERTIFIED ACCOUNTANT 55 Barville Close St. Norbert Road London SE4 2LN
TRINIry PRESBYTERIAN CHURCH OF GHANA LONDON CONGREGATION TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The Trustees of the Church present their report together with the Financial Statements for the year ended 31 December 2024. The TNstees have adopted the provisions of the Accounting and Reporting Charities Guide and the Statement of Recommended Practice (SORP)(FRS102} in preparing the Annual Report and Financial Statement of the Church. The Trustees are elected from the congregation by the entire membership of the Church through a secret ballot. They serve for a period of four yeaTS and are eligible for reelection for another four year term. The Trustees control and manage the day to day activities of the Church. GOVERNANCE AND INTERNAL CONTROL The Trustees meet once a month, to discuss all relevant matters. When requir8d, an emergency meeting can be called outside these scheduled meetings. They have considered whether there are any major risks that the Church may currently be exposed to and, thus far, are of the opinion that none exist. They consider that, good financial control and monitoring within the Trustees and the entire congregation would seNe to mitigate any such risks. OBJECTIVES The objectives of the Church is to advance religion in accordance with the Christian Faith by means of education and training, the relief of poverty and religious activities. PUBLIC BENEFIT STATEMENT Trinity Presbyterian Church of Ghana. London Congregation is a registered charity in the UK. Legally, all charities must cary out charitable purposes for public benefit. The advancement of religion is a recognised charitable purpose. The Trustees refer to the Charities Commission's guidance on provision of Public Benefit as best guide and practice to follow. The Trustees are of the opin ion that one way the pu blic can benefit is by making our facilities available to the people who can make use of them to their benefit. We have thefOre welcomed requests from various organisations to make use of our facilities at minimal or no cost. The Church premises and its facilities are also put at the disposal of Baring Primary School, the local primary school. The Church takes it's responsibility as a charity seriously. The Church also helps to promote social well-being by supporting the activities of some charities. It also seeks to be as inclusive as possible in its work and aims to a¢h out to people of all ages from different ethnic and cultural backgrounds.
TRINITY PRESBYTERtAN CHURCH OF GHANA, LONDON CONGREGATION TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 - continued FINANCIAL REVIEW The main source of funds for the Church are voluntary contributions through Offertories, Trthes, Thanksgiving and Annual HaNests during Sunday Services. Details of the Church's Financial Activities for the year and the state of affairs as at 31 December 2024 are set on pages 5 to 13 The Church made a surplus of £62,429 from ordinary activities, (2023: £14,742 deficit). RESERVES The Church needs to have sufficient reserves to cover known liabilities and contingencies, absorb any losses and take advantage of changes and opportunities. The Trustees provide forthis by putting aside a portion of our current unrestricted income as a reserve against future uncertainties. Having considered the source of income, mainly, from donations and contributions by the congregation, and the extent to which expenditure is committed, it is the policy of the Trustees to maintain the free reseNes of the Church should be held as current assets, in order to meet the future requirements of its activities. In deciding upon the reseNe policy, the Trustees were guided by: Likely income in future years, taking into account the reliability of each income and the prospect for opening up new sources Likely income in future years, taking into account the reliability of each income Any future needs or opportunities not likely to be met out of income Likely expenditure in future years on the basis of planned activity Taking into account the need to cover. Usual running costs Surplus funds to cover unforeseen expenditure Property repairs and maintenance Planned development Total funds held as at 31 December2024 was £527,508 (2023 £449,015}. These funds included £63,000 designated forthe building of a gallery and £160,151 belonging to groups within the Church. The effective free resetve is £36,934. This is an improvement compared to previous year. The Trustees aim to continuously build up the reserve in the coming years.
TRINifi PRESBYTERIAN CHURCH OF GHANA, LONDON CONGREGATION TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 - Gontinued STATEMENT OF TRUSTEES RESPONSIBILITIES The Truslees are responsible for preparing the Trustees, Annual Report and the financial statemenls in accordance with applicable law and the provisions of the Statement of Recommended Practice= "Accounting and Reporting by Charities" in accordance Financial Reporting Standard applicable in the UK and the Republic of Ireland {FRS1021. Laws applicable to charities in England and Wales require the Trustees to prepare financial statements for each financial year. This gives a tNe and fair view of the charity and its incoming resources and application of resources of the charity for that year. In preparing these financial statements, the Trustees are required to.. Select suitable accounting policies and apply them consistently Observe the methods and principles of the Charities SORP Make judgements and eslirnates that are reasonable and pnjdent State whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements Prepare the financial statements on the going concem basis unless it is inappropriate to presume that the charity will continue in operation Th8 Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy al any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2022 and the Charity (Accounts and Reports} IFRS1021. They are also responsibl& for safeguarding the assets of the charity. They are responsible for taking reasonable steps for the prevention and detection of fraud and other irregularities. Signed on behalf of the Trustees Mr David Ofori Senior Presbyter l Trustee Date- 201h July 2025
TRINThY PRESBYSTEIUAN CHURCH OF GHANA- LONDON CONGREGATION STATEMENT OF FINANCIALAcrIvtrIES FOR THE PERIOD ENDED 31 DECEMBER 2024 TOTAL G•n8rn1 Fund5 2024 INCOMING RESOURCES Incoming rUrc& from generth fund£ Vduntsry inccyne Acuvfoes for generatng funds Invenent income 197,¥32 71399 197,532 145,864 73,465 187 rotrl iWA)miThJ SoUS 27 RESOURCES EXPENDED Costs of generaOng fund5 Charrtable athe MlnlerSal co95 Ccsts of church advrts Grants payable and restrtted donauons passed on Governance ccsts st Lts)don DLkt Set Up Cc6tsWltsY 2,431 1431 49,177 148,557 49,177 205,959 57,402 2aiii 16e2 6,382 Total resourtos expended 57 Net irKomirvJl{outyoing) rtsouros before tsansftrs 61429 16,063 (4570) Net movement in fvnds 11063 78,493 (457OJ Total Resourns blllvd l January 2024 241,927 144, 449,0 Total Resou5 clfwd 31 Dernber 2024 160 151 £ 527 508 £ INL•1S) The ntste$ on p898$ 7 to 13 fomi part of these financial statem8nts
TRINrrY PRESBERtAN CHURCH OF GHANA LONDON CONGREGATION BALANCE SHEEfAS AT 31 DECEMBER 2024 UnrE5blcted FUts Gen¢rnl TOTAL 2024 Fund$ 2023 FIXED ASSErs Tangible assets InveyJnents li 638,289 CURRENT ASSFrs Debtor5 Bank and cath balances 17 171532 n598 CURRENT LIABILMES Creditors payable thin one year 14 NEf CURRENT AEr$ TOTAL ASSEfs Less CURRENT LIABILrriES 638,285 Credthrs payable after year 15 246,5 246,375 TOTAL ASSETS 39 ThE FUNDS OFTHE CHARrrf Funds.. General Unrcted fijnds De&gn&& Unrestrlcted funds 17 304,356 304,356 18 IfAJ,151 RtctèJ fiJnds 16 APPROVED by the Church M¥ng held on 20th ju 2025 and 9gn& ts behalf by Beatrlce Mettte- Nun ( Trea9Jrer l Trustsel {SIgnare) The not&$ cfi pages 7 to 13 fum partofthese financial st£mwts
TRINrrY pREsBERIAN CHURCH OF GHANA LONDON CONGREGATION NOTES TO THE sfATEMENT OF FINANCIAL AcrIvmES FOR THE YEAR ENDED 31 DECEMBER 2024 ACCOUNTING POLICIES Basis of Accountirvj The Financial Statements have been prepared in accordance voby the Slatefttof Recorrmendoj Pracuce., Accounting and Repcting by Chariti&% (SORP 2005) isgjed by the Charity Cmwsyon. The accruals bags of acc(nn9 has been adopted, and the principal accounting policies set t below are applied consts)ty. Ib Fund Accountlng Unrestricted fijnds are avauable fcf use at the dwreoon of the Church in fvrtherance chartsble (t)jecbve& Rict8J fijnds are subJthJ to riC)S thdr expendthre i0C by the dontr, cr contsined in the t£rrr6 of a granL Endovfftent ndS are fiJnds the capftsl of which must be nwintsined; normally Inco arn9 from investment of the endowment rw be us8J, ether as restricted or Unrestr1 funds depending on the purpc6e and terms on which the endovrnt was estsblieJ, Ic Tangible Fixed Assets l asts cong more than £L,CQO are capitslid. Depreciation is provided on tsngible fed assets at the fc41owng annual rats calculated to write off aets over their estimated uJl Iwes.. Freehofd Property & Church Man Choir Rob4 Cormiunion Cups and Mulcal InstrunEnts Equlprrw( FLxknre5 & F5tttngs Motor Vethicle5 ceT 50 years IO% aight line (ovw 10 years) 25% straight Ilne (over 4 years) 25% Straight line (over 4 years) Id Incoming Resouros All Vduntsry GNing is included in the Financial Stsfrnts fcf the pericd in vthich it Is recelv&. DOnatiS under Gf(Akl plus the a59XkltoJ tsx reLovery are recojnised as InconE when the dcnat'on s receNed. Legacie5 are accnted for kthen Iheir recelpt s certsin and can be prcperty quantifioj. l other income general rLxtsJnised then f( is receivable. le Resources Expended Resources expended are recogntsed in the pwk)d to which they are incurred and Include attributsble VAT which cannot be recovered. They are allocafrd to the particular activity to which they rdate. Governance costs represent dir g<pendIre the gernance of the Church, including the prcducticn and independent rutiny of the financial staternents. A5 nK& of the mnagement and athty of the Church is carried t by vduntepJ& this Intangible cost is not included in the financial statenEnts as this voluntsry contributicr tr the life of the Church is incalculabl& Taxation The Church s a riStsred charty withln the nwning of the Taxe5 Acr& AccordingW is potent'a1 exempt frcxn taxati in re5P<t of incorTh and caprf(al gains recdved bj the e%tt that gjch inconE or gains are applied to eyclusvely charitsble Purpo No prOvon for trxalion has been rde in these financial Statets, If
TRINrrY PRESB YfERIAN CHURCH OF GHANA LONDON CONGREGATION NOTES TO THE STATEMEFif OF FINANCIAL AcrivrriES - continued FOR THE YEAR ENDED 31 DECEMBER 2024 UnrEstridÈd Fund es¥nated TOTAL 2024 TOTA General Fund$ 202Y VOLUNTARY INCOME Tithes and Offering5'. General co1clnS Musc Sunday Tithes Grft aid - Tax refund Sundrie$ Hymn Books and Study Materials AnnNeTray Cloth Special Offerings and donaliong Thanks Off9ring 55,819 55,819 5Z697 82,337 31,428 31,428 4,415 21,721 21,721 16&94 197 532 £ 197 ACTIVrnES FOR GE14ERATING FUNDS Church bngs Fund raigng events,, Harvest Group Funds 2,329 1329 70,070 70,070 rs,465 £39) £ INVEsfMENT INCOME Bank inter Lrryaty Rtherd 1,119 610 I,L19 610 692 495 COSTS OF GENERATING FUNDS C05t of fund rai9ng Harv* expendibjre 2,431 2,431 Z385 Ufirnllthd Fund$ GeneRI DesSunaiEd Restyktsd Fund5 TOTAL 2024 TOTAL 2023 MINISTERIAL cosrs District a&sEnt Costs other District Expenses EUre Pr&yterv Mini<er4Preachers eXpse$ wa9- Catechi5t 36,527 2,10) 36,527 li) 35,Ni 10,5 10,550 12,3
TRINrrY PRESBYfERIAN CHURCH OF GHANA LONDON CONGREGATION NOTES TO THE STATEME OF FINANCIALAcrivrtIES- continued FOR THE YEAR ENDED 31 DECEMBER 2024 UnR4Jkied Fund$ GeneMI Designated TOTAL 2024 TofAL Funds 2023 cosrs OF CHURCH ACTIVITIES Church coys.. Mrtgage Servicing Inwrance Water rats5 Buildings refurbithrrwt & maintenance Electricty Gas CnIng expenses Church Band expenses Madia Suppcrt Salaries fcf Administration (included in Nrte 11) National In9Jrance & Pay as You Earn Crference Expen5 Church Vts and General wee juni Yth expenses Grace Team Expenses Comrnnion Expens 21,404 5,351 21,404 5,351 2ZiQ3 17,350 6,869 17,350 24,569 4477 603 9,635 4,340 9,826 4,600 300 1,000 1939 9,304 3,324 9,304 3,324 670 Jio Managwnent and Administraocn: Po¥2ge & strticery Motcf & Travd Expens Telephone pJpenses Conyuting expenses Bank charges CLan Committee Rentsl of equiprrEnt FLxed Undex £l,OtM) arm&rn Sundry pjpenses 1,632 2,5C 802 2,549 100 5Ql io) 14,165 1756 Z837 591 7,725 7,725 Other program Hc6pitslity pjpenses Group &<pens 57,402 Other expenses L@(profft) ¢)n dispcsal of tsnglble as Deprection and Amortition Anniversary Cloth Anniverry Concert Anniversary Dinnw Dance Other Anniversary Expense5 21,2 1,065 21,2CxJ 1,065 21,7az f20J 205 959 E 2XJii
TRINrrY PRESBYfERIAN CHURCH OF GHANA LONDON CONGREGATION io NiyfES TO THE STATEMENf OF FINANaAL ACnVtrIES - continued FOR THE YEAR ENDED 31 DECEMBER 2024 Unm51rlcted Funds General DesWJrbatrd TOTAL 2024 TofAL 2021 Funds DONATIONS Othèr donatKins GOVERNANCE cosrs Independent Examiner Training co*s Account'ng ServKe5 LgJal Fees 1,2Q) 1,2CO 873 5,182 5,182 2,911 10 EMPLOYMENT COSTS Wages and salaries Emplcyer's NIC 12,C 12,0 14939 £ No emplcryee recavèj errt4uronts of nwe than £&J,O Durlng the year, the Trust had many volunkry strff No saL4rles have been pald to Trustees durlng the year,
11." n 11 I I Tp4 Uro<ttau
TRINrrY pREsBERlAN CHURCH OF GHANA LONDON CONGREGATION 12 NOTES TO THE SrATEMEP OF FINANCtAL ACllVtrIES - continued FOR THE YEAR ENDED 31 DECEMBER 2024 UnBsly5aÈd Funds GeneMI TOTAL 2024 rorAL Des(gnated Funds 2023 DEBTORS Other Debtors BANK AND CASH BALANCES Barclays Prerium Barclays Current 30,489 93,489 6é370 Group fund5 Cth in hand 597 T2,597 14 CURRENT LIABILrnES CrlItorS payable thin one year: Loans. Mortgage from Barclays Bank Pk < lyr (note 16) Soubl London Dtstrict A5&ent NI and PAYE Indeperndftt Examiner 1739 1,2IX) 1739 L2C £2 36939£ The ntyage from Barclays Bank PIC baknce of £33,000 {20L.. £33,CW) Included in current lbIl&S represents the pon the principal payable within one year. 15 LONG TERM LtABILrnES Crajitors payable after nTrJre than one year,. Loans- Mortgage from Barclays Bank Pl¢ > lyr Mortyage frcffl Barclays Bank PIC < lyr mabjrlty (note 15) 279,375 (33,000) 279,375 {33,(XlOI 133LWJ 246 375 £ 246 375 £ The rtyage loan from Barclays Is s&ured on the Church Premis and the Church Manse. 16 RESrcrED FUNDS The rltted fvnds in the year and tr)e prevbusyear is the builduig fvnd whlch remains the
TRINrrY pREsBERlAN CHURCH OF GHANA LONDON CONGREGATXON 13 NOTES TO THE STATEMENf OF FINANCIAL AcrIvrrIES - continued FOR THE YEAR ENDED 31 DECEMBER 2024 17 UNREsfRICTED FUNDS At lJan24 Incoming resources Outgoing resouttes At 31 DEC 24 Trnnsfer General fijnds 241,927 62,429 )1,356 241927 £ 18 DESIGNATED FUNDS At lJan24 Incorning resources Outgolng resour At 31 DEC 24 Loan Building funds PCG TV PCG TV- Upgrade 10th Annfverry Cloth &T-thirt Evelyn Duah Grace Brow) Bible Sc( KwaffÈ Adu KUlnSe Prolfft HoeSS Offer Wdfare Ccmmittee Rev Prof Abamfo AderrL) Dori¢ Affoof Church Welfare Wonn's Fellovthip Singing Band YPG YAF Bible Sbjdy & Prayer Grwp Men's FeIkIp Junu Y Children Servke urch Ch(Nr Mu4c Sunday Mèjia Pre4)yters Conference Prayterlan Church cl Ghana - Land DepOt Europe Presbytery- CdÈctyon Europe Presbytery- Manse Purchase Ukraine- Appeal Mcxlerator Appeal for Funds 393 1,165 393 L,165 705 705 3EI) 50 567 67,174 567 E6,247 6,929 320 io 6,002 320 io 1,765 20,1 12,472 4,114 5,145 12,464 7,049 1,765 17,7C6 18,723 14,6T2 754 16,241 iO,iEO 2,OCX) 2,067 I,2j 2,589 5,3 6,621 12,070 6,616 11,315 5,2CQ 910 7,783 11,975 9,261 628 4,220 1,344 11,835 4,220 I,n7 1,021 177 5,891 961 961 19 RELATED PARTY There no hryitslity eXpSeS paid to any Truee during the year {2023-NII). In Note 7, under Admini*the Cc&s noTru#ees were paKI £ {21)23- NIL) 2024 I3
TRINTfY PRESBYfERIAN CHURCH OF GHANA LONDON CONGREGATION 14 FINANCIAL sfATEMENTS YEAR ENDED 31 DECEMBER 2024 TREASURER'S STATEMEMr I have prepared the financial statements on pages I to 13 for the year ended 31 December 2024. L¢0 Date: 20th July 2025 INDEPENDENT EXAMINER'S REPORT ON THE ACCOUNTS I report to the trustees my examination of the accounts of the above Charity far the year ded 31st December 2024, which are set on pages I to 13. Responsibilities of Tnstees and basls of report As the Charity's Trustees, you are responsible for the preparaOn of the accounts in accordance with Ihe requirements of the Charities Act 20111'the ACV). I report in respect of my examlnation of the Charity's accounts carrled out under section 145 of the 2011 Act and In carrying out my examination, I have followed all the applicable Directions glven by the Charity Commissicn under xtion 145 (5)(b) of the Act Independent examiner's statement The Charity's Gross income exceeded £250,OCM) and I am qualified to undertske the examination by being a qualifial member of The Chartered Asgxiation of Certifi& Accountsnts. I have completed my examination. I confirm that no material matters have come to my attention in connection wth the examination which gives me cau to believe that in, any materlal respect: l. the accounting records were not kept in accordance with wtion 130 cf the Charffjes Act; or 2. the accounts did not accord wth the accounting rexords; or 3. the accounts did not comply with the applicable requirements concerning the form and content of accounts t out In the Charities (Accounts and Reports) RUlationS 2008 other than any requirement that the accounts give a 'true and falr, view which is not a matter considered as part of an independent examination. I have no concer s and have come acrw no other matters in connection the examinatian to which attention thcijld be drawn in report in der to enable a proper understanding of the accounts to be reached. Date Peter K a FCCA CHARTERED CERTIFIED ACCOUNTANT 55 Barville Close St. Norbert Road London SE4 2LN