**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 3. 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 4. 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. - The trustees acknowledge their responsibilities for - (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and - (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. 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 fund**104,765**
Freehold Property**3,070,000**
**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 FUNDS**3,070,000|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 FUNDS**3,070,000|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