CHARITY REGISTRATION NUMBER 1101932
Grace Temple International
Financial Statements For The Year Ended 31 December 2023
Raywin P-Cole & Co Ltd
Chartered Certified Accountants ACCA Registered Firm 131 Tivoli Road, West Norwood London SE27 0EE
Grace Temple International
Financial Statements For The Year Ended 31 December 2023
Contents
| Page | |
|---|---|
| Reference and administrative details | 1 |
| Trustees report | 2 - 5 |
| Chartered Accountants' report | 6 |
| Statement of Financial Activities | 7 |
| Balance Sheet | 8 |
| Notes to the accounts | 9 - 10 |
Grace Temple International Reference and adminstrative details For the year ended 31 December 2023
| Status | The charity is constituted as an unincorporated body |
|---|---|
| Governing document | The charity is established under a model trust deed |
| Charity registration | 1101932 |
| Principal address | 7 Bridgetown close |
| London | |
| SE19 1JZ | |
| Trustees | Mr Graham Bennett |
| Mrs Edwina Bennett | |
| Mrs Jennifer Kwamin | |
| Mr Lawrence Adaneh | |
| Bankers | Natwest |
| Clapham Junction, London | |
| SW11 1PB | |
| Barclays | |
| Leicester | |
| LE87 2BB | |
| Independent examiner | Raywin P-Cole & Co Ltd |
| Chartered Certified Accountants | |
| ACCA Registered Firm | |
| 131 Tivoli Road | |
| West Norwood | |
| London SE27 0EE |
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Grace Temple International
Trustees report for the year ended 31 December 2023
Grace Temple International is a registered charity with its no 1101932, as an approved organisation working in the community to give social care provision for the needy.
Our office address, and place of worship have been published on our website, as: 7 Bridgetown close, London SE19 1JZ, and for worship, as church services: Atkins Road, London SW12 0AB.
And any material needing public attention can refer to the above information for urgent response.
This report was approved by four of the five trustees who were present at its presentation, they were, Mrs Edwina Bennett, Mrs Jennifer Kwamin, and Mr Lawrence Adaneh, and chaired by the treasurer Mrs Jennifer Kwamin, and Graham Bennett, senior pastor.
Structure, Governance and Management
The charity status was obtained in December 2003, in order to show the practical humanitarian aspect to the teachings of Jesus Christ in the communities, and to have impact and help change the lives of people who are in need for the better.
The structure of the church organisation is headed by the senior pastor as a spiritual leader more in tuned with the spiritual lives of the people in his parish.
Governing document
The governing document states the following:
The Senior Pastor, who is automatically a member of the Church Board, is also an ex-officio member of all Committees designated by the Church Board. The position of the Senior Pastor is a perpetual position and he can only be removed according to the provisions of clause H, 2 (iii) (three).
The Senior Pastor shall not take action independently in matters not having the approval of the Church Board; neither shall the Church board seek to take action without the approval of the Senior Pastor. Although members of the Church Board can be removed by the majority vote of the Board, the Senior Pastor, upon scriptural qualifications, can only be removed by the majority vote of the Church Board in addition to the confirmation of three-fifths of the voting church membership for his removal and replacement.
The Senior Pastor shall have the authority to name his successor in counsel with the Church Board. There are five trustees who run the charity, and were appointed according to their level of dedication to the church, in service, because a trustee must be someone wholly dedicated to any responsibility entrusted in the charity, with passion to serve those in need, and the service to the church is the yardstick
to appointing the right candidate for the trusteeship.
Other requirement is also based on academic standard, as well as natural ability to evaluate systems and probe for accountability, which are crucial for the running of the charity, and public benefit of its resources.
There is also a quarterly training programme for all trustees to help equip them realise their
responsibilities and provide more innovative ideas, however, decision making process is based on our meetings, which is held not more than four times a year, providing scope for shared views.
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Grace Temple International
Trustees report for the year ended 31 December 2023
The Trustees shall be appointed by the Church Board and approved by the Church.
The Trustees shall consist of Elders, Deacons, and members in good standing with the local church and/or honorary members.
They shall attend to all the legal business in connection with the property of the church, as instructed by the Church Board and approved by the church.
The Board of Trustees will be reviewed at the Annual; Church Business meeting.
The Treasurer
The treasurer shall be a member of the Church Board, appointed by the Senior Pastor in consultation and agreement with the local church leadership. The Senior Pastor may from time to time, as need arises, appoint an honorary treasurer and such a person need not be a church board member but should be a deacon. The time of office shall be one year.
It shall be the duty of the treasurer to hold the finances of the church on behalf of the church. The Treasurer shall keep an itemised account of all receipts and disbursements under the oversight of the Church Board with the general approval of the fellowship. The Treasurer shall deposit all funds in the name of the fellowship in a responsible bank designated by the Church Board, and in a manner requiring the signature of the Treasurer, the Senior Pastor (as Chairman of the Church Board), or two other appointed members in the absence of the Chairman. The Treasurer shall present his/her records to be independently examined.
Financial Review
The church’s policy for raising funds is based on the biblical teachings which members of the church adhere to, by individual non-coercive contributions called Tithes {one tenth of income} and Offering {non –percentage daily voluntary giving}.
There are others too, like Building fund {helps to pay rent} for worship place, Pledge {promise made to pay extra more} Thanksgiving offering {appreciation for God’s goodness of blessings and spiritual security} all these form part of accumulation of funds raised, for the running of the organisation. These help to fulfil our financial commitments as a charity in the communities
The other source of income is the Gift Aid repayment submission made from our donation streams, for the 25% HMRC approval payment made every half year to supplement our income.
The personnel cost for volunteers was part of payment being paid as allowances to our overseas pastors in the mission fields.
Efficient trusteeship Oversight
As committed trustees, they have rendered this important duties in overseeing the structural shape of the church’s funds, which supports the charitable responsibilities entrusted upon the church, without having any personal or financial gains or biasedly favouring a particular section of the charity or church membership; but truthfully and honestly acted in accordance with the charity commission procedures, and most importantly to the glory of God, as faithful workers of the kingdom of God.
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Below is the pictures of the on-going multi- purpose facility at our overseas branch in Zambia, as described under the Achievement and Performance caption in the trustee report.
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Grace Temple International
Trustees report for the year ended 31 December 2023
Objectives and Activities
The objects as declared in the church’s governing document is to be a religious organisation in the London localities to worship God, and promote the gospel of Jesus Christ as revealed in the scriptures, and our activities as a charity is to use the benefit of the gospel to show Christ’s love to the communities in our social care provision.
The story of Jesus feeding the five thousand, after his sermon to them showed that spiritual must go in tandem with the physical in order that holistic nature of the person could be completed. And this objective drives the church to go at any length possible in our communities to seek the neglected and vulnerable. The bible says faith without works is dead, hence our activities must reflect the love, care sacrifice Christ set as an example for us to follow; therefore deeds play a huge part in what we believe.
Achievement and Performance
This year there is still financial pressure on us to fulfil our long term commitment of completing the already started multiple purpose facility in our overseas branch in Zambia, for the church and other community services.
This facility when completed would accommodate three hundred congregants in a church session, and also be used for nursery classes in the community, and other needed services for the vulnerable in the locality.
There’s also another plan in place for similar but smaller facility to be acquired for another branch in Ghana, which could be used in our yearly health screening service by the local health professionals as arranged by the church for the communities.
The ability to set aside some funds to meet targets are skills I believe the trustees have in abundance to making the charity viable for the benefit of the public.
Trustee members present, and approved document: Mrs Jennifer Kwamin {Treasurer} Chair Mrs Edwina Bennett Lawrence Adaneh Graham Bennett {head pastor} Date of approval: 29th October 2022 SIGNED: MRS JENNIFEFR KWAMIN and REV. GRAHAM BENNETT
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Grace Temple International
Independent Examiner's Report to the Trustees and Members
We report on the accounts of the Trust for the year ended 31 December 2023 which are set out on the annexed pages.
Respective Responsibilities of the Trustees and Examiner
The Trustees of the Charity are responsible for the preparation of the accounts; and consider that the audit requirement of section 144(2) of the Charities Act 2011 does not apply and that an independent examination is needed. It is our responsibility to:
-
examine the accounts under section 145 of the 2011 Act;
-
to follow the procedures specified in general Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act, and
-
to state whether particular matters have come to our attention.
Basis of Independent Examiner's Report
Our examination was carried out in accordance with general directions given by the Charity Commission. An examination includes 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 we do not express an audit opinion on the view given by the accounts and the report is limited to those matters set out in the statement below.
Independent Examiner's Statement
In connection with our examination, no matter has come to our attention:
-
1) Which gives us reasonable cause to believe that in any material respect the requirements
-
to keep accounting records in accordance with section 130 of the 2011 Act;
-
and to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act have not been met;
or
- 2) To which, in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Raywin P-Cole & Co Ltd
Chartered Certified Accountants ACCA Registered Firm 131 Tivoli Road, West Norwood London SE27 0EE
31 October 2024
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Grace Temple International Statement of Financial Activities for the year ended 31 December 2023
| Incoming Resources Donations Other Income Total Incoming Resources Resources Expended Charitable activities Personnel Cost Motor Expenses Printing, stationery & postages Overseas/Mission Donations Telephone & Fax Church Rent & Rates Insurance Depreciation Governance costs Accountancy Legal & Professional Fees Bank Charges Total Resources Expended Net incoming/(outgoing) resources Transfers between funds Net movement in funds Total funds brought forward Total funds carried forward |
Notes | Unrestricted Restricted Funds Funds 2023 £ £ £ 37,703 - 37,703 - - - 37,703 - 37,703 16,854 - 16,854 1,311 - 1,311 451 - 451 2,000 - 2,000 1,000 - 1,000 2,459 - 2,459 9,800 - 9,800 933 - 933 116 - 116 34,924 - 34,924 500 - 500 100 - 100 12 - 12 612 - 612 35,536 - 35,536 2,167 - 2,167 - - - 2,167 - 2,167 2,147 310 2,457 4,314 310 4,624 |
2022 £ 24,126 4,549 |
|---|---|---|---|
| 1 5 1 2 1 |
|||
| 28,675 | |||
| 12,342 2,521 306 1,831 1,300 2,134 7,825 1,120 135 |
|||
| 29,514 | |||
| 500 169 - |
|||
| 669 | |||
| 30,183 | |||
| (1,508) - |
|||
| (1,508) 3,965 |
|||
| 2,457 |
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Grace Temple International Balance Sheet as at 31 December 2023
| Notes Fixed assets Tangible assets 2 Current assets Cash at bank and in hand Creditors: amounts falling due within one year 3 Net current assets Net assets Funds of the charity Unrestricted funds Restricted funds Total funds |
2023 £ 654 4,540 (570) 3,970 4,624 4,314 310 4,624 |
2022 £ 770 2,357 (670) 1,687 2,457 2,147 310 2,457 |
2022 £ 770 2,357 (670) 1,687 2,457 2,147 310 2,457 |
|---|---|---|---|
| 2,457 | |||
| 2,147 310 |
|||
| 2,457 |
These financial statements were approved by the Trustees on 31 October 2024 & signed on their behalf by:
Rev Graham Bennett Trustee
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Grace Temple International Notes to the Accounts for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The Financial Statements have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities and Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities".
Incoming resources
Unrestricted Income comprises donations and is recognised on receipt basis. Restricted Income relates to donations specifically raised for the purchase of land & buildings and is recognised on receipt basis. However, the donors have agreed that that once the primary purpose has been satisfied, any surplus funds remaining will be used for the running of the Charity's ordinary activities.
Depreciation
Depreciation is provided at the following annual rates in order to write off each asset over it's estimated useful lives based on reducing balance method.
Equipments 15% Fixtures & Fittings 20%
Resources Expended
Charitable Activities
These comprise all expenditure directly relating to the objects of the Charity. Support costs are an integral part of the expenses incurred in carrying out those charitable activities, which the Charity was established to perform.
Governance Costs
Governance costs comprise the costs of running the charity, including strategic planning for its future development, also includes accountancy & legal fees and all costs relating to consnstitutional and statutory compliance.
Church Rent & Rates
The Trust has an existing operating lease agreement which is renewed annually. Monthly rentals of £540 per four Sunday worship are usually paid to the Landlord one month in advance. Where there are five Sundays in any given month, the rent for the extra one month will be increased to £675. The Trust also hired another worship place for Fridays week night prayer at a monthly cost of £180. The Trust does not have any non-cancellable commitment.
Publications/Advertising
Unlike the prior years, the charity did not embark on regular television & radio advert/programmes during the period.
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Grace Temple International Notes to the Accounts for the year ended 31 December 2023
2 Tangible fixed assets
| Cost At 1 January 2023 At 31 December 2023 Depreciation At 1 January 2023 Charge for the year At 31 December 2023 Net book value At 31 December 2023 At 31 December 2022 3 Creditors: amounts falling due within one year 2023 £ Accountancy 570 |
Equipments £ 2,729 |
|---|---|
| 2,729 | |
| 1,959 116 |
|
| 2,075 | |
| 654 | |
| 770 | |
| 2022 £ 670 |
4 Analysis of net assets between funds
| Analysis of net assets between funds | |||
|---|---|---|---|
| Equipments Current assets Cash at bank and in hand Creditors: amounts falling due after one year At 31 December 2023 |
Unrestricted Funds £ 654 654 4,230 4,230 (570) 4,314 |
Restricted Funds £ - - 310 310 - 310 |
Total £ 654 |
| 654 4,540 |
|||
| 4,540 (570) |
|||
| 4,624 |
5 Personnel costs
Personnel costs represents a total allowance of £8,400 given to Rev Graham Bennett as a full time minister and the remaining allowance of £8,454 given to volunteers. Other than that, no remuneration was paid to any of the trustees and their expenses also not borne by the Trust.
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