Registered number 1107472
Powerhouse Community Network
## Report and Accounts
31 March 2023
**Powerhouse Community Network Registered number: 1107472 Directors' Report**
The trustees present their report and accounts for the year ended 31 March 2023.
## **Principal activities**
The charity's principal activity during the year was the provision of community services and pastoral care.
## **Directors**
The following persons served as trustees during the year:
A.Adediran
## **Trustees' responsibilities**
The trustees are responsible for preparing the report and accounts in accordance with applicable law and regulations.
Charity law requires the trustees to prepare accounts for each financial year. Under that law the trustees have elected to prepare the accounts in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under charity law the trustees must not approve the accounts unless they are satisfied that they give a true and fair view of the state of affairs of the organisation and of the profit or loss of the organisation for that period. In preparing these accounts, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- make judgements and estimates that are reasonable and prudent;
- prepare the accounts on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the organisation's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the accounts comply with the Charities Act. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
This report was approved by the board on 19 July 2023 and signed on its behalf.
A.Adediran Chairperson
1
## **Powerhouse Community Network Statement of financial activities for the year ended 31 March 2023**
|**Incoming resources**
Direct charitable expenditure
Fundraising and publicity
Governance costs
Other operating income
**Operating surplus**
Profit on the disposal of tangible fixed assets
Profit on the disposal of investments
Gain on revaluation of investments
Income from investments
Interest receivable
Interest payable
**Surplus for the year**|**Unrestricted**
Unrestricted
**funds**
funds
**2023**
**2022**
**£**
**£**
**65,339**
70,268
**(15,894)**
(18,757)
**49,445**
51,511
**-**
-
**(32,887)**
(15,127)
**-**
-
**16,558**
36,384
**-**
-
**-**
-
**-**
-
**-**
-
**-**
-
**-**
-
**16,558**
36,384|
|---|---|
2
**Powerhouse Community Network Registered number:** 1107472 **Balance Sheet as at 31 March 2023**
|**Notes**
**Fixed assets**
Tangible assets
**Current assets**
Debtors
Cash at bank and in hand
**Creditors: amounts falling due**
**within one year**
4
**Net current assets**
**Total assets less current**
**liabilities**
**Creditors: amounts falling due**
**after more than one year**
5
**Net assets**
**Capital and reserves**
Reserves
**Shareholder's funds**|72,796
24,340|**2023**
**2022**
**£**
**£**
-
-
-
-
41,331
39,247
80,578
-
97,136
80,578
97,136
80,578
-
-
97,136
80,578
97,136
80,578
97,136
80,578|
|---|---|---|
||97,136
-||
||||
The trustees are satisfied that the charity is entitled to exemption from the requirement to obtain an audit under the Charities Act 2006.
The trustees acknowledge their responsibilities for complying with the requirements of the Charities Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to small charities.
A.Adediran Director Approved by the board on 19 July 2023
3
## **Powerhouse Community Network Notes to the Accounts for the year ended 31 March 2023**
## **1 Accounting policies**
## _**Basis of preparation**_
The accounts have been prepared under the historical cost convention and in accordance with the provisions of the Charities Act 2006, and the Charities (Accounts and Reports) Regulations promulgated thereunder, and the Statements of Recommended Practice issued by the Charity Commission.
**Unrestricted funds** represent funds which are expendable at the discretion of the trustees in furtherance of the objects of the church and are held in the general fund.
**Restricted funds** represent grants and donations received and tax refunds arising thereon, which were allocated by the donor for specific purposes.
## **Direct charitable expenditure**
Direct charitable expenditure includes all expenditure which is directly related to the objects of the charity and comprises grants paid and costs whch are directly attributable to charitable activities including charitable support costs.
## **Management and administration costs**
Management and administration costs represent expenditure incurred in the management of the assets of the charity, organisational administration and compliance with constitutional and other statutory requirements. None of the Trustees received any remuneration, nor were paid expenses in the year ended 31/03/2021.
## **Grants and donations**
There were no accruals for these items at the year end
|**2**
**Employees**
Average number of persons employed by the company
**3**
**Expenditure by activity area: 2021**
**TST**
**Run4Life**
**Sickle Cell**
**£**
**£**
**£**
Accounting feed
0
0
0
Advertising and publicity
14.39
0
0
Agents and consultants fees
2000
0
0
Cleaning
0
0
0
Entertainment and hospitality
0
0
0
Equipment
0
0
0
Health & safety
0
0
0
Repairs and maintenance
0
0
0
Offive supplies
2.95
0
0
Payroll liabilities
374.84
0
0
Postage and shipping
0
0
0
Printing
0
0
0
Rent/mortgage costs
3600
0
0
Wages and salaries
3200
0
0
Subscriptions
0
0
0
Telephone
0
0
0
Training
338.36
0
0
Travel
0
0
20.05
Utilities
0
0
0
Volunteer Expenses
0
35
20
Website
0
0
0
Welfare/residents free shopping
0
0
125.1
Totals
9,531
35
165|**2023**
**2022**
**Number**
**Number**
-
-
**Covid Relief**
**Equally Active**
**Total**
**£**
**£**
**£**
23.79
354.1
**377.89**
832.62
114.1
**961.11**
0
250
**2250**
6.49
0
**6.49**
881.05
0
**881.05**
3472.05
111.9
**3583.95**
1019.39
0
**1019.39**
1520
0
**1520**
1208.9
0
**1211.85**
640.16
0
**1015**
55.4
0
**55.4**
81
0
**81**
2500
0
**6100**
0
1200
**4400**
0
159.9
**159.9**
0
30
**30**
489.53
0
**827.89**
1547.7
0
**1567.75**
111.77
0
**111.77**
2849.09
0
**2904.09**
445.45
0
**445.45**
2659.28
0
**2784.38**
20,344
2,220
32,294|
|---|---|
4
## **Powerhouse Community Network Notes to the Accounts for the year ended 31 March 2023**
|**4**
**Creditors: amounts falling due within one year**
Power House International Ministries
**5**
**Creditors: amounts falling due after one year**
Bank loans
Power House International Ministries|**2023**
**2022**
**£**
**£**
-
-
-
-
**2023**
**2022**
**£**
**£**
-
-
-
-
-
-|
|---|---|
5
## **Powerhouse Community Network Income and expenditure account for the year ended 31 March 2023**
_This schedule does not form part of the statutory accounts_
|**Incoming resources**
Donations
**Direct charitable expenditure**
Programs and mission expenses
Equipment
Honorarium and gifts
Volunteer expenses
Hire/lease
Travel
Hospitality, welfare and security
Training and seminar costs
**Fundraising and publicity**
Fundraising and publicity costs
**Governance costs**
Premises costs
Rent and associated costs
Repairs and maintenance
Governance costs
Telephone and web costs
Design, printing and postage
Payroll and other administrative costs
Accounting fees
Advertising and PR
Subscriptions
Legal and professional costs:
Agents/consultancy fees|**2023**
**2022**
**£**
**£**
65,339
70,268
65,339
70,268
3,122
7,020
4,636
3,005
900
200
3,290
1,410
1,000
1,500
178
307
1,634
1,449
1,134
3,866
15,894
18,757
-
-
-
-
4,540
1,500
-
-
4,540
1,500
1,200
380
663
61
18,184
9,595
-
-
4,540
64
60
53
24,647
10,153
3,700
3,474
3,700
3,474
32,887
15,127|
|---|---|
6
## **Powerhouse Community Network Detailed profit and loss account for the year ended 31 March 2023**
_This schedule does not form part of the statutory accounts_
|**Incoming resources**
Direct charitable expenditure
**Gross incoming resources**
Fundraising and publicity
Governance costs
Other operating income
**Net surplus**
Gain on the disposal of tangible fixed assets
Gain on the disposal of investments
Gain on revaluation of investments
Income from investments
Interest receivable
Interest payable
**Surplus for the year**|**2023**
**2022**
**£**
**£**
65,339
70,268
(15,894)
(18,757)
49,445
51,511
-
-
(32,887)
(15,127)
-
-
16,558
36,384
-
-
-
-
-
-
-
-
-
-
-
-
16,558
36,384|
|---|---|
7
|**Powerhouse Community Network**|||
|---|---|---|
|**Corporation tax computation**|||
|**Tax reference**|||
|**Period beginning**||**1/04/22**|
|**Period ending**||**31/03/23**|
|**Accounts period beginning**||**1/04/22**|
|**Accounts period ending**||**31/03/23**|
|**Adjustment of trading profits**||**£**|
|Profit before tax per the accounts||16,558|
|Add back disallowable expenses|||
|Entertainment||-|
|Legal & professional fees||-|
|Parking fines||-|
|Donations||-|
|Depreciation and (profit)/loss on sale of assets||-|
|Other||-|
|Capital allowances||-|
|Add back dividends payable on non-equity shares included in interest payable||-|
|Deduct non-trading income|||
|Interest receivable||-|
|Property income||-|
|Loss on revaluation of investments||-|
|Franked investment income||-|
|Other income not taxable||-|
|Other adjustments|||
|Finance lease adjustments||-|
|Leased cars||-|
|Other operating lease adjustments||-|
|Adjusted trading profit||16,558|
|**Taxable profits**||**£**|
|Trading profit|16,558||
|Charity relief|(16,558)||
|Losses utilised|-||
|||-|
|Interest receivable||-|
|Rental income||-|
|Net chargeable gains||-|
|Less: qualifying donations to UK charities||-|
|Taxable profit||-|
|**Days in accounting period falling in each tax year**|||
||**Days falling**||
|**Tax year**|**in tax year **|**Days in year**|
|2021|-||
|2022|365||
||365|365|
|**Corporation tax payable**|||
|**Taxable**|||
|**Tax year**
**profit**|**Tax rate**|**Corp Tax**|
|2021
-|19%|-|
|2022
-|19%|-|
|-|||
|Corporation tax payable||-|
8
|**Powerhouse Community NetwoCapital allowances**
**Tax reference**
**Period beginning**
**Period ending**
**Summary**
General pool
Special rate pool
Short term asset pools
Total capital allowances
**General Pool**
Written down value brought forward
Disposal receipts
Balancing allowance
Balancing charge
Expenditure qualifying for writing down allowance
Relevant first year expenditure
Other expenditure qualifying for first year allowance
Expenditure qualifying for annual investment allowance
FYA in respect of relevant FYA expenditure
£1000 or less: write off
Annual investment allowance
Writing down allowance
Written down value carried forward
**Special rate pool**
Written down value brought forward
Disposal receipts
Balancing allowance
Balancing charge
Thermal installation expenditure
Integral feature expenditure
Expenditure on a car that is not a main rate car
Expenditure qualifying for annual investment allowance
Annual investment allowance
Writing down allowance
Written down value carried forward
**Total of short life asset pools**
Number of single asset pools
Written down value brought forward
Disposal receipts
Balancing allowances
Balancing charges
Expenditure qualifying for written down allowance
Relevant first year expenditure
Other expenditure qualifying for first year allowance
Expenditure qualifying for annual investment allowance
FYA in respect of relevant FYA expenditure
Other FYA
Annual investment allowances
Writing down allowances
Written down value carried forward|-
-
-|**1/04/22**
**31/03/23**
**£**
-
-
-|
|---|---|---|
|||-|
|||**£**
-
-
-
-
-|
|||-
-
-
-
-|
||-
-||
|||-|
|||**£**
-
-
-
-
-
-
-|
|||-
-
-|
||-
-
-
-||
|||-|
|||-
**£**
-
-
-
-
-|
|||-
-
-
-
-|
||||
|||-|
9