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← Hackney Pentecostal Apostolic Church

2023-12-31-accounts

REGISTERED COMPANY NUMBER: 05420748 (England and Wales) REGISTERED CHARITY NUMBER: 1116896

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DEEMBER 2023

FOR

HACKNEY PENTECOSTAL APOSTOLIC CHURCH (A COMPANY LIMITED BY GUARANTEE)

Imran Sadiq AFA MIPA SS Accounts 42 Warwick Road Bounds Green, London N11 2TA

HACKNEY PENTECOSTAL APOSTOLIC CHURCH

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

Page
Report of the Trustees 1
Independent Examiner's Report 2
Statement of Financial Activities 3
Statement of Financial Position 4 to 5
Notes to the Financial Statements 6to 10
Detailed Statement of Financial Activities 11

HACKNEY PENTECOSTAL APOSTOLIC CHURCH

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2022. 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).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The objective is to advance the Christian religion for the benefit of the public in accordance with Apostolic Doctrine (encompassing the teachings of the Old Testament) as given to the Apostles by Our Lord and Saviour Jesus Christ.

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

05420748 (England and Wales)

Registered Charity number

1116896

Registered office

27 Middleton Road Hackney London E8 4BN

Trustees

Mrs M Douglas Mr H White Mrs S Pike Mr I Davies Mrs S D Dixon Mrs P A Pike Mr S Cameron

Company Secretary

Mr S Cameron

Independent Examiner

Imran Sadiq AFA MIPA

SS Accounts 42 Warwick Road Bounds Green, London N11 2TA

31/10/24

Approved by order of the board of trustees on ........................................... and signed on its behalf by:

S Cameron

....................................................................... Mr S Cameron - Trustee

Page 1

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF HACKNEY PENTECOSTAL APOSTOLIC CHURCH

Independent examiner's report to the trustees of Hackney Pentecostal Apostolic Church ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2023.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or

  2. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or

  3. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

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.

Imran Sadiq AFA MIPA SS Accounts 42 Warwick Road Bounds Green, London N11 2TA Date: .............................................

Page 2

HACKNEY PENTECOSTAL APOSTOLIC CHURCH

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023

INCOME AND ENDOWMENTS FROM
Notes
Donations and love offering
Convocation Contributions
2
Total
EXPENDITURE ON
Donations and love offering
Depreciation
Total
NET INCOME/(EXPENDITURE)
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
Restricted
fund
£
fund
£
60,088
-
14,579
-		 31.12.23
Total
31.12.22
Total
Funds
£
funds
£
60,088
42,712
14,579
15,644		 31.12.23
Total
31.12.22
Total
Funds
£
funds
£
60,088
42,712
14,579
15,644
74,668
-
63,847
-
19,906
-		 74,668
58,356
63,847
78,310
19,906
6,727
83,753
-		 83,753
85,037
(9,085)
(26,681)
104,765
131,446
95,680
104,765
(9,085)
-
104,765
-
95,680
-

The notes form part of these financial statements

Page 3

HACKNEY PENTECOSTAL APOSTOLIC CHURCH

STATEMENT OF FINANCIAL POSITION 31 DECEMBER 2023

FIXED ASSETS
Notes
Tangible assets
6
CURRENT ASSETS
Debtors
7
Prepayments and accrued income
Cash at bank and in hand
CREDITORS
Amounts falling due within one year
8
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
NET ASSETS
FUNDS
Unrestricted funds
9
TOTAL FUNDS		 Unrestricted
fund
£
3,141,414
2,537
2,774
27,616		 Unrestricted
fund
£
3,141,414
2,537
2,774
27,616		 31.12.23
31.12.22
Restricted
fund
£
Total
funds
£
Total
funds
£
-
3,141,414
36,188
-
2,537
3,778
-
2,774
4,106
-
27,616
67,714
-
3,174,342
75,597
-
(8,661)
(7,020)
-
3,165,680
68,577
-
3,165,680
104,765
-
3,165,680
104,765
3,165,680
104,765
3,165,680
104,765		 31.12.23
31.12.22
Restricted
fund
£
Total
funds
£
Total
funds
£
-
3,141,414
36,188
-
2,537
3,778
-
2,774
4,106
-
27,616
67,714
-
3,174,342
75,597
-
(8,661)
(7,020)
-
3,165,680
68,577
-
3,165,680
104,765
-
3,165,680
104,765
3,165,680
104,765
3,165,680
104,765
3,174,342
(8,661)		 3,174,342
75,597
(8,661)
(7,020)
3,165,680 3,165,680
68,577
3,165,680 3,165,680
104,765
3,165,680 3,165,680
104,765
3,165,680
104,765
3,165,680
104,765

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

continued...

Page 4

HACKNEY PENTECOSTAL APOSTOLIC CHURCH The notes form part of these financial statements

continued...

Page 4

HACKNEY PENTECOSTAL APOSTOLIC CHURCH

STATEMENT OF FINANCIAL POSITION - continued 31 DECEMBER 2023

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies’ regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 31/10/24 ............................................. and were signed on its behalf by:

............................................. Mrs M Douglas - Trustee

S Cameron

............................................. Mr S Cameron - Trustee

............................................. Mrs S D Dixon - Trustee

The notes form part of these financial statements

Page 5

HACKNEY PENTECOSTAL APOSTOLIC CHURCH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, 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 Companies Act 2006. 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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold Property - 0% because building is considered to have use economic life of 100 years
Improvements to property - 2% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on cost

Taxation

The charity is exempt from corporation 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.

Page 6

continued...

HACKNEY PENTECOSTAL APOSTOLIC CHURCH

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023

2. CONVOCATION CONTRIBUTIONS

31.12.23 31.3.22
£ £
Convocation 14,579 15,644

3. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

31.12.23 31.3.22
£ £
(9,085)
 (26,681)

4. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2022 nor for the year ended 31 December 2023.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2022 nor for the year ended 31 December 2023.

5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted
fund
£
INCOME AND ENDOWMENTS FROM
Donations and love offering
60,089
Convocation Contributions
14,579
Total
74,668
EXPENDITURE ON
Donations and love offering
63,847
Depreciation
19,906
Total
83,753
NET INCOME
(9,085)
RECONCILIATION OF FUNDS
Total funds brought forward
104,765
TOTAL FUNDS CARRIED FORWARD
95,680		 Restricted
fund
£
-
-
-
-
-
-
-
-
-		 Total
funds
£
60,089
14,579
74,668
63,847
19,906
83,753
(9,085)
104,765
95,680

Page 7

HACKNEY PENTECOSTAL APOSTOLIC CHURCH

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023

6.
TANGIBLE FIXED
ASSETS
Improvements
Fixtures
Freehold
property
to
propert
y
Plant and
machinery
and
fittings
£
£
£
£
COST
At 1 Jan 2023
7,500
79,268
104,807
Addition
Disposals
At 31 December 2023
3,070,000
3,070,000
-
7,500
55,132
134,400
-
104,807
DEPRECIATION
At 1 Jan 2023
1,500
63,805
90,083
Charge for year
150
16,074
3,681
At 31 December 2023
1,650
79,879
93,764
NET BOOK VALUE
At 31 December 2022
6,000
15,463
14,725
At 31 December 2023
3,070,000
5,850
54,521
11,043
7.
DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
Loan to brethren
8.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Other creditors
Accrued expenses
9.
MOVEMENT IN FUNDS
At 1.1.23
£
Unrestricted funds
General fund104,765
Freehold Property3,070,000
TOTAL FUNDS 3,070,000
104,765		 Motor
vehicles
Totals
£
£
5,000
193,288
-
5,000
3,288
196,576
5,000
153,661
19,906
5,000
180,293
0
36,188
0
3,141,414
31.12.23
31.3.22
£
£
2,537
3,778		 Motor
vehicles
Totals
£
£
5,000
193,288
-
5,000
3,288
196,576
5,000
153,661
19,906
5,000
180,293
0
36,188
0
3,141,414
31.12.23
31.3.22
£
£
2,537
3,778
31.12.22
31.3.22
£
£
-
-
8,661
7,020
8,661
7,020
Net
movement
At
in funds
31.12.23
£
£
(9,085)

104,765
(9,085)
3,165,680

Page 8

HACKNEY PENTECOSTAL APOSTOLIC CHURCH

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023

9. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
TOTAL FUNDS		 Incoming
resources
£
Resources
expended
£
Movement
in funds
£
74,668
(83,753)
(9,085)
74,668
(83,753)
(9,085)

Comparatives for movement in funds

Net
movement At
At 1.1.23 in funds 31.12.23
£ £ £
Unrestricted funds
General fund 104,765 (9,085) 95,680
Freehold Property 3,070,000
TOTAL FUNDS3,070,000 104,765 (9,085) 3,165,680

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
TOTAL FUNDS		 Incoming
resources
£
Resources
expended
£
Movement
in funds
£
58,356
(85,037)
(26,681)
58,356
(85,037)
(26,681)

A current year 12 months and prior year 9 months combined position is as follows:

Unrestricted funds
General fund
Freehold Property 3,070,000
TOTAL FUNDS3,070,000		 Net
movement
At
At 1.4.22
£
in funds
£
31.3.23
£
131,446
(35,766)
95,680
131,446
(35,766)
3,165,680

Page 9

HACKNEY PENTECOSTAL APOSTOLIC CHURCH

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023

9. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 9 months combined net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£ £ £
Unrestricted funds
General fund 133,023 (168,789) (35,766)
TOTAL FUNDS 133,023 (168,789) (35,766)

10. RELATED PARTY DISCLOSURES

Hackney Pentecostal Apostolic Church operates from 27 Middleton Road Hackney London E8 4BN. The Hackney Pentecostal Apostolic Church (HPAC) is registered as a charity under no.1116896. Clarity was needed on the status of the freehold as despite the Charity being now incorporated, the property was not vested in the Charity’s name.

In April 2005 HPAC was incorporated in order to take over the assets of the charity. In October 2007 an asset transfer took place whereby all the assets, other than the Chapel Property were transferred to HPAC. However, the final step of getting the Chapel Property transferred to HPAC was not taken and it has remained registered in the names of the 4 individual trustees

Having conducted subsequent research, the charity was originally established with a constitution and individual trustees who were to hold the charity’s property. There were four trustees, three of whom have now been deceased and the remaining trustee had submitted a letter of resignation but there were no provisions for this and as such bear no legal effect. The decision was made to apply to the Charity Commission for a vesting order with supporting documentation to vest the property in the Charity’s name. This was granted by the Charity Commissioners. The records have since been updated at the Land Registry to that effect.

Freehold Property 27 Middleton Road Hackney London E8 4BN has been valued by Strettons Property Consultants & Advisors, Chartered Surveyors with a value of 3,070,000 which has been book as fixed asset against the retained earnings.

An order of the charity commission for England and Wales had been given as the evidence that to transfer land under the power given in section 69 of the Charities Act 2011 dated the 20 September 2021 for the charity known as Hackney Pentecostal Apostolic Church (1116896)

The title to the land described in the schedule is transferred by this order to Hackney Pentecostal Apostolic Church (1116896) to hold as part of its corporate property.

Freehold property known as Middleton Road Chapel and Hall, Hackney, London and registered with HM Land Registry under title number 332238.

11. MEMBERS LIMITED LIABILITY

The liability of the members is limited.

Every member of the Company undertakes to contribute to the assets of the company in the event of the same being wound up during the time he or she is a member, or within one year afterwards, for the payment of the debts and liabilities of the Company contracted before the time at which he or she ceases to be a member, and of the costs, charges and expenses of winding up the same, and for the adjustments of the rights of the contributors amount themselves, such amount as may be required not exceeding £1.

Page 10

HACKNEY PENTECOSTAL APOSTOLIC CHURCH

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023

INCOME AND ENDOWMENTS
Donations and love offering
Donations and love offering
Convocation Contributions
Convocation
Total incoming resources
EXPENDITURE
Raising donations and legacies
Motor and travelling
Rates and water
Insurance
Light and heat
Telephone
Postage and stationery
Sundries
Refuse Collection
Building repairs and upkeep
Events (Convocation)
Bank charges and interest
Depreciation
Improvements to property
Plant and machinery
Fixtures and fittings
Motor vehicles
Support costs
Governance costs
Accountancy and legal fees
Legal and professional fees
Total resources expended
Net (expenditure)/income		 31.12.23
£
60,089
14,579
74,668
165
5
4,144
22,899
1,750
57
-
1,972
27,824
1,143
68
60,027
150
16,075
3,681
-
19,906
1,300
2,520
3,820
83,753
(9,085)		 31.12.22
£
42,712
15,644
58,356
-
-
1,508
14,767
1,010
-
3,381
809
51,343
2,119
253
75,190
150
3,545
3,032
-
6,727
1,200
1,920
3,120
85,037
(26,681)

This page does not form part of the statutory financial statements

Page 11