REGISTERED CHARITY NUMBER: 1113189
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 March 2025
for
House of Praise Christian Centre
Argon & Krypton Consulting Ltd (Chartered Certified Accountants & Tax Advisers) Unit 6 Town Quay Wharf Abbey Road Barking Essex IG11 7BZ
House of Praise Christian Centre
Contents of the Financial Statements for the Year Ended 31 March 2025
| Page | |
|---|---|
| Report of the Trustees | 1 |
| Independent Examiner's Report | 2 |
| Statement of Financial Activities | 3 |
| Balance Sheet | 4 |
| Cash Flow Statement | 5 |
| Notes to the Cash Flow Statement | 6 |
| Notes to the Financial Statements | 8 to 12 |
| Detailed Statement of Financial Activities | 13 |
House of Praise Christian Centre
Report of the Trustees
for the Year Ended 31 March 2025
The trustees present their report with the financial statements of the charity for the year ended 31 March 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1113189
Principal address 17 Feering Drive Basildon Essex SS14 1TG
Trustees
V K Mukolo Pastor B. N Mukolo Mrs R Manyere H Mimbu O Odutola
Independent Examiner
Argon & Krypton Consulting Ltd (Chartered Certified Accountants & Tax Advisers) Unit 6 Town Quay Wharf Abbey Road Barking Essex IG11 7BZ
CESSATION OF TRADING
The charity ceased activities on 7 March 2006.
Approved by order of the board of trustees on 8 December 2025 and signed on its behalf by:
V K Mukolo - Trustee
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Independent Examiner's Report to the Trustees of House of Praise Christian Centre
Independent examiner's report to the trustees of House of Praise Christian Centre
I report to the charity trustees on my examination of the accounts of House of Praise Christian Centre (the Trust) for the year ended 31 March 2025.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Olusola Makinwa (MSc FCCA)
Argon & Krypton Consulting Ltd (Chartered Certified Accountants & Tax Advisers) Unit 6 Town Quay Wharf Abbey Road Barking Essex IG11 7BZ
8 December 2025
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House of Praise Christian Centre
Statement of Financial Activities
for the Year Ended 31 March 2025
| 31.3.25 | 31.3.24 | ||
|---|---|---|---|
| Unrestricted | |||
| Total | |||
| fund | funds | ||
| Notes | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||
| Donations and legacies | 25,194 | 19,096 | |
| Investment income | 2 | 6,678 | 977 |
| Total | 31,872 | 20,073 | |
| EXPENDITURE ON | |||
| Charitable activities | |||
| Charitable Activity | 11,987 | 11,937 | |
| NET INCOME | 19,885 | 8,136 | |
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | 212,443 | 204,307 | |
| TOTAL FUNDS CARRIED FORWARD | 232,328 | 212,443 |
The notes form part of these financial statements 5 | P a g e
House of Praise Christian Centre
Balance Sheet
31 March 2025
| 31.3.25 | 31.3.24 | ||
|---|---|---|---|
| Unrestricted | |||
| Total | |||
| fund | funds | ||
| Notes | £ | £ | |
| FIXED ASSETS | |||
| Tangible assets | 5 | 877 | 2,366 |
| CURRENT ASSETS | |||
| Investments | 6 | 169,056 | 169,056 |
| Cash at bank | 63,226 | 41,845 | |
| 232,282 | 210,901 | ||
| CREDITORS | |||
| Amounts falling due within one year | 7 | (831) | (824) |
| NET CURRENT ASSETS | 231,451 | 210,077 | |
| TOTAL ASSETS LESS CURRENT LIABILITIES | |||
| 232,328 | 212,443 | ||
| NET ASSETS | 232,328 | 212,443 | |
| FUNDS | 8 | ||
| Unrestricted funds | 232,328 | 212,443 | |
| TOTAL FUNDS | 232,328 | 212,443 |
The financial statements were approved by the Board of Trustees and authorised for issue on 8 December 2025 and were signed on its behalf by:
V K Mukolo - Trustee
The notes form part of these financial statements 6 | P a g e
House of Praise Christian Centre
Cash Flow Statement
| Cash Flow Statement | |||
|---|---|---|---|
| for the Year Ended 31 March 2025 | |||
| 31.3.25 | 31.3.24 | ||
| Notes | £ | £ | |
| Cash flows from operating activities | |||
| Cash generated from operations | 1 | 15,172 | 10,044 |
| Net cash provided by operating activities | 15,172 | 10,044 | |
| Cash flows from investing activities | |||
| Purchase of tangible fixed assets | (468) | (353) | |
| Interest received | 6,678 | 977 | |
| Net cash provided by investing activities | 6,210 | 624 | |
| Change in cash and cash equivalents | in | ||
| the reporting period | 21,382 | 10,668 | |
| Cash and cash equivalents at the | |||
| beginning of the reporting period | 41,845 | 31,176 | |
| Cash and cash equivalents at the end | |||
| of the reporting period | 63,226 | 41,845 |
The notes form part of these financial statements 7 | P a g e
House of Praise Christian Centre
Notes to the Cash Flow Statement for the Year Ended 31 March 2025
| 1. | RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM | RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM | OPERATING | OPERATING | ACTIVITIES | |
|---|---|---|---|---|---|---|
| 31.3.25 | 31.3.24 | |||||
| £ | £ | |||||
| Net income for the reporting period (as per the Statement of | ||||||
| Financial Activities) | 19,885 | 8,136 | ||||
| Adjustments for: | ||||||
| Depreciation charges | 1,958 | 2,190 | ||||
| Interest received | (6,678) | (977) | ||||
| Increase in creditors | 7 | 695 | ||||
| Net cash provided by operations | 15,172 | 10,044 | ||||
| 2. | ANALYSIS OF CHANGES IN NET FUNDS | |||||
| At 1/4/24 | Cash flow | At 31/3/25 | ||||
| £ | £ | £ | ||||
| Net cash | ||||||
| Cash at bank | 41,845 | 21,381 | 63,226 | |||
| 41,845 | 21,381 | 63,226 | ||||
| Liquid resources | ||||||
| Deposits included in cash | - | - | - | |||
| Current asset investments | 169,056 | - | 169,056 | |||
| 169,056 | - | 169,056 | ||||
| Total | 210,901 | 21,381 | 232,282 |
The notes form part of these financial statements 8 | P a g e
House of Praise Christian Centre
Notes to the Financial Statements
for the Year Ended 31 March 2025
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.
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House of Praise Christian Centre
Notes to the Financial Statements - continued for the Year Ended 31 March 2025
| 2. | INVESTMENT INCOME | ||
|---|---|---|---|
| 31.3.25 | 31.3.24 | ||
| £ | £ | ||
| Interest | 6,678 | 977 |
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024.
4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |
|---|---|
| fund | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Donations and legacies | 19,096 |
| Investment income | 977 |
| Total | 20,073 |
| EXPENDITURE ON | |
| Charitable activities | |
| Charitable Activity | 11,937 |
| NET INCOME | 8,136 |
| RECONCILIATION OF FUNDS | |
| Total funds brought forward | 204,307 |
| TOTAL FUNDS CARRIED FORWARD | 212,443 |
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House of Praise Christian Centre
Notes to the Financial Statements - continued for the Year Ended 31 March 2025
| 5. TANGIBLE FIXED ASSETS Plant and machinery £ COST At 1 April 2024 11,875 Additions 468 At 31 March 2025 12,343 DEPRECIATION At 1 April 2024 9,509 Charge for year 1,957 At 31 March 2025 11,466 NET BOOK VALUE At 31 March 2025 877 At 31 March 2024 2,366 6. CURRENT ASSET INVESTMENTS 12 Month Bond 7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors 8. MOVEMENT IN FUNDS At 1/4/24 £ Unrestricted funds General fund 212,443 TOTAL FUNDS 212,443 |
Motor Vehicles £ 6,131 - 6,131 6,131 - 6,131 - - 31.3.25 £ 169,056 31.3.25 £ 831 Net movement in funds £ 19,885 19,885 |
Totals £ 18,006 468 18,474 15,640 1,957 17,597 877 2,366 31.3.24 £ 169,056 |
Totals £ 18,006 468 |
|
|---|---|---|---|---|
| 18,474 | ||||
| 15,640 1,957 |
||||
| 17,597 | ||||
| 877 | ||||
| 2,366 | ||||
| 31.3.24 £ 824 At 31/3/25 £ 232,328 |
||||
| 232,328 |
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House of Praise Christian Centre
Notes to the Financial Statements - continued for the Year Ended 31 March 2025
8. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 31,872 | (11,987) | 19,885 |
| TOTAL FUNDS | 31,872 | (11,987) | 19,885 |
| Comparatives for movement in funds | |||
| Net | |||
| movement | At | ||
| At 1/4/23 | in funds | 31/3/24 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 204,307 | 8,136 | 212,443 |
| TOTAL FUNDS | 204,307 | 8,136 | 212,443 |
| Comparative net movement in funds, included in the | above are as follows: | ||
| Incoming | Resources | Movement | |
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 20,073 | (11,937) | 8,136 |
| TOTAL FUNDS | 20,073 | (11,937) | 8,136 |
A current year 12 months and prior year 12 months combined position is as follows:
| Net movement At 1/4/23 in funds £ £ Unrestricted funds General fund 204,307 28,021 TOTAL FUNDS 204,307 28,021 |
At 31/3/25 £ 232,328 |
|---|---|
| 232,328 |
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House of Praise Christian Centre
Notes to the Financial Statements - continued for the Year Ended 31 March 2025
8. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 51,945 | (23,924) | 28,021 |
| TOTAL FUNDS | 51,945 | (23,924) | 28,021 |
9. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2025.
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House of Praise Christian Centre
| House of Praise Christian Centre | ||
|---|---|---|
| Detailed Statement of Financial Activities | ||
| for the Year Ended 31 March 2025 | ||
| 31.3.25 | 31.3.24 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Tithes and Offerings | 25,194 | 19,096 |
| Investment income | ||
| Interest | 6,678 | 977 |
| Total incoming resources | 31,872 | 20,073 |
| EXPENDITURE | ||
| Charitable activities | ||
| Charitable Events | 764 | 110 |
| Motor & Travel | 1,024 | 119 |
| Refreshments | 1,648 | 387 |
| IT Costs | - | 530 |
| Printing & Stationery | 62 | - |
| IT Costs | 774 | - |
| Subscriptions | 4,376 | 5,079 |
| Donation | - | 400 |
| Other Office Expenses | 470 | 1,375 |
| 9,118 | 8,000 | |
| Support costs | ||
| Management | ||
| Repairs | - | 250 |
| Computer equipment | 1,958 | 2,190 |
| 1,958 | 2,440 | |
| Governance costs | ||
| Bank Charges | 161 | 153 |
| Accountancy | 750 | 1,344 |
| 911 | 1,497 | |
| Total resources expended | 11,987 | 11,937 |
| Net income | 19,885 | 8,136 |
This page does not form part of the statutory financial statements 14 | P a g e