REGISTERED COMPANY NUMBER: 05760707 (England and Wales) REGISTERED CHARITY NUMBER: 1119110, REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS'FOR THE YEAR ENDED 31 MARCH 2025 FOR PRAISE COMMUNITY CHAPEL INTERNATIONAL Hayford & Co Chartered Certified Acc4)untants 27 Avenons Road London E13 8HU
PRAISE COlvlMUNITY CHAPEL INTERNATIONAL CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Page Reference and Administrative DetaiLs Report of the Trustees Independent Examiner's Report Statement of Financial Aetlvities Balance Sheet 5 to 6 Notes to the Financial Statements 7 to 11 Delailed Statement of Financial Aetivities 12
PRAISE COMMUNITY CHAPEL INTERNATIONAL REFERENCE AND ADMJNISTRATIVE DETAILS FOR THE YEAR ENDED 31 MARCH 2025 TRUSTEES Mr Maud Isrebel Dedo Lartey Nurse Mrs Gladys Nyarko Nortey Nurse Mr Anthony Nkansah Nyarko Assetnbly Operdtor COMPANY SECRETARY Ms Esther Apenteng REGISTERED OFFICE 12 Crouch Avenue Barking Essex IGI I OQZ REGISTERED COMPANY NUMBER 05760707 (England and Wales) REGISTERED CHAIUTY NUMBER 1119110 INDEPENDENT EXAMINER Hayford & Co Chart¢red Certified Accountants . 27 Avenons Road London E13 8HU Page I
PRAISE COMMUNITY CHAPEL INTERNATIONAL REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with th¢ 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 Recotntnended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicabEe in the UK and Republic of Ireland (FRS 102) (effective l January 2019). OBJECTIVES AND ACTIVITIES Objectives and aims The objects of the Church are for the active living out of the whole gospel in word and in deed by reaching out into the immediate community and beyond in order to demonstrate the love and facts pertaining to God in a more practical ways The Missions are: - To reach the unsaved by ways of spreading the good news of Jesus ChrisL - To teach the uncompromising Word of and educating the local community about the ¢ontempordry issues. - To raise worshippers. - To be a supernatural church. - To be a family outreach centre. - To do mission outreach. The Trustees have paid due regard to the guidance contain in the Charity Commission's general guidance on public benefit when reviewing the Charity's aims and objectives in deciding on what activities it undertakes the year. Achievements and performrdnee Praise Community Chapel International has approximately 58 members, all with their own individual spiritual needs and the Church charitable ndS are used to advance the spirithal, educational, recreational and Cultural opportunities to the members. Financial review The net Incoming Resources for the year, which were all from unrestricted funds, amounted to £3,829 and added to the net incoming resources brought fonvard of £37,157. The total reserve Caled fonvard is £40,986. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity is controlled by its governing documenL a deed of tNst, and coltItuteS a limited company, limited by guarantee, as defined by the Companies Act 2006. Praise Community Chapel International Limited is registered as a charitable company limited by guaranfred as set up in the Memorandum and Articles of Association incorporated on 29 March 2006 as amended by Written Resolution dated 12 April 2007. Organisation Structure The management of the Trust is the responsibility of the Trustees. The day to day administration of the Trust is carried out by the operating Tste¢S. Risk Management The Trustees have assessed the major risks to which the charity is exposed. in particular those relating to the operations and finances of the Charity and are satisfied that systems and controls are in place to mitigate their exposure to the major risks. Approved by order of the board of trustees on 7 July 2025 and signed on its behalf by: Ms Esther Apenteng - Secretary Page 2
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF PRAISE COMMUNITY CHAPEL INfERNATIONAL Independent examiner's report to the trustees of Praise Community Chapel International (Ithe Company,) I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2025. 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 A.ct 2006 Cthe 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 aTe eligible for independent examination, I rewrt in respect of my examination of your chariws 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 Cotnmission under Section 145(5) (b) of the 2011 ACL Independent cxatniller's statement. I have completed my examination. I confInn that no n]atters have come to my attention in connection with the examinal'ion giving m¢ ¢aus¢ to b¢li¢ve: accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act. or the accounts do not accord with those records" or the accounts do not comply with th¢ accounting requirements of Section 396 of the 2006 Art 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 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 in accordance with the Financial Reporting Standard applicable in the UK and Republic of IreKand (FRS 102)). I have no concerns and have come across no other matters in Connection with the examination to which attention should be dram in this report in order to enable a proper understanding of the accounts to be reached. Hayford Doh FCCA MBA Hayford & Co Chartered Certified Accountants 27 Avenons Road London E13 8HU 8 July 2025 Page 3
PRAISE COMMUNITY CHAPEL INTERNATIONAL STATEMEINT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025 31.3.25 Unrestricted fimd 31.3.24 Total nds Notes JNCOME AND ENDOWMENTS FROM Donations and l¢gacies 39,196 23,023 EXPENDITURE ON Charltable activities Direct charitable expenditure Governance cost 33,437 1,930 28,511 1.930 Total 35,367 30,441 NET INCOMEI(EXPENDITURE) 3,829 (7,418) RECONCILIATION OF FUNDS Total funds brought forward 37.157 44,575 TOTAL FUNDS CARRIED FORWARII 40,986 37,157 The notes forni part of these fncIal statements Pa8e 4
PRAISE COMMUNITY CHAPEL INTERNATIONAL BALANCE SHEET 31 MARCH 2025 31.3.25 Unrestricted fund 31.3.24 Total fjjnds Notes FJXED ASSETS Tangible assets 1,172 1,464 CURRENT ASSETS Debtors Cash at bank 34,941 7,855 34,941 4,484 42,796 39,425 CREDITORS Amounts falling due within one year (2,982) (3,732) NET CURRENT ASSETS 39,814 35,693 TOTAL ASSETS LESS CURRENT LIABILITIES 40,986 37,157 NET ASSETS 40,986 37,157 FUNDS Unrestricted funds 40,986 37,157 TOTAL FUNDS 40,986 37,157 The charitable company i5 entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025. The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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 preparing financial statements which give a true and fair view of th¢ state of affairs of the charitable company as at the end of ¢ach financial year and of its surplus or deficit for earh financial year in accordance with the requirements of SectiOD5 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to fllmncial statements, so far as applicable to the charitable Company. (b) The notes forni part of these financial statements Page 5 continued... .
PRAISE COMMUNITY CHAPEL INTERIYATIONAL BALANCE SHEET- continued 31 MARCH 2025 These financial statemenls have been prepared in accordance wilh Ihe provisions applicable to charitable companies subject to the small companies regime. The financial slalements were approved by the Board of Trustees and auihoris¢d for issue on 7 July 2025 and were signed on its behalf by: Mr Anthony Nkansah Nyarko - Trustee Mrs Gladys Nyarko Nortey - Trustee The notes fomi part of these financial statements Page 6
PRAISE COMMUNITY CHAPEL INTERNATIONAL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 ACCOUNTING POLICIES Basis of preparing the flnaneial statements The fmancial statements of the ¢haritabl¢ 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 l 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 FinanciaI 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 recogni5ed as expenditlc as soon as there is a legal or constnlctive 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 aggr¢gate all cost related to the category. Where costs cannot be directly attributed to particular lleadings they, have been allocat¢d 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 wrile off each asset over its estimated useful life. Fixtures and fittings Computer equipment 200/0 on reducing balance 200/0 on reducing balance 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 filllds can only be used for particular restrA¢ted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted pUoses. Further explanation of the nature and pUOSe of each nd is included in the notes to the financial statements. Hire purchase and le2sing commitments Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line b&sis over the period of the leasè. Page 7 ontinued...
PRAISE COMMUNITY CHAPEL INTERNATIONAL NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED31 MARCH 2025 NET INCOMEI(EXPENDITURE) Net income/(expenditure) is stated after chargingl(crediting): 31.3.25 31.3.24 Depreciation - owned assets Other operating leases 292 8,900 364 7.700 TRUSTEES, REMUNERATION AND BENEFITS Th¢re were no tNstees' 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. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted nd INCOME AND ENDOWMENTS FROM Donations and legacies 23.023 EXPENDITURE ON Charitable activities Direct charitable expenditure Governance cost 28,511 1,930 Total 30,441 NET INCOME/(EXPENDITURE) (7.418) RECONCILIATJON OF FUNDS Total fvnds brought forward 44,575 TOTAL FUNDS CARRIED FORWARD 37,157 Page 8 continued...
PRAISE COMMUNITY CHAPEL INTERNATIONAL NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025 TANGIBLE FIXED ASSETS Fixtures Computer equipment fittings Totals COST At l April 2024 and 31 March 2025 3211 9,437 12,648 DEPRECIATION At l April 2024 Charge for year 2,662 iio 8,522 182 11,184 292 At 31 March 2025 2,772 8.704 11,476 NET BOOK VALUE At 31 March 2025 439 733 1.172 At 31 March 2024 549 915 1,464 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.325 31.3.24 Other debtors 34,941 34,941 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.3.25 31.3.24 Accrued expenses 2,982 3,732 MOVEMENT IN FUNDS Net movement in funds At 31.3.25 At 1.4.24 Unrestricted funds General fund 37,157 3,829 40,986 TOTAL FUIYDS 37,157 3,829 40,986 Net movement in funds, included in the above are as follows: Incoming resources Resources expended Movement in funds Unrestricted funds General tund 39,196 (35,367) 3,829 TOTAL FUNDS 39,196 (35J67) 3,829 Page 9 ontinued...
PRAISE COMMUNITY CHAPEL INTERNATIONAL NOTES TO THE FINANCIAL STATEMENTS- eontinued FOR THE YEAR ENDED 31 MARCH 2025 ' MOVEMEwf IN FUNDS- continued Comparatives for movement in funds Net movement in funds At 31.3.24 At 1.4.23 Unrestrieted funds General fund 44,575 (7,418) 37,157 TOTAL FUNDS 44,575 (7,418) 37,157 Comparative net movement in fijnds, included in the above are as follows: Incoming resourees Resources expended Movement in funds Unrestrlcted funds General fund 23,023 (30,441) (7,418) TOTAL FUNDS 23,023 (30,441) (7,418) A current year 12 months and prior year 12 months combined position is as follows: Net movement in funds At 31.3.25 At 1.4.23 Unrestricted funds General nd 44,575 (3,589) 40,986 TOTAL FUNDS 44,575 (3,589) 40,986 A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: Incoming resources Resources expended Movement in funds Unrestricted funds General fund 62,219 (65,808) (3.589) TOTAL FUNDS 62,219 (65,808) (3,589) Page 10 ontinued...
PRAISE COMMUNITY CHAPEL INTERNATIONAL NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025 RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 31 March 2025. Pagell
PRAISE COMMUNITY CHAPEL INTERNATIONAL DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025 31.3.25 31.3.24 INCOME AND ENDOWMENTS Donations and legacies Gifts Aid tax credit Donations 11,557 27,639 23,023 39,196 23,023 Total incoming resources 39,196 23,023 EXPENDITURE Charitable activities Rent and rates Telephone Postage and stationery Refreshment and welfare Professional fee Pastoral services Honorariurn Evangelism Charitable donations Communion wine Subscription and membership Miscellaneous equipment Sundry expenses Travelling expenses Fixtures and fittings Computer equipment 8,900 264 315 831 1,280 14,550 2,080 2,285 1,310 96 258 1,712 150 394 iio 182 7.700 60 910 454 1,280 14,400 1,350 1,843 1.334 96 136 228 34,717 29,791- Support costs Governance eosts Accountancy fees 650 650 Total resources expended 30,441 Net incomel(expenditure) 3,829 (7,418) This page does not forni part of the statutory financial statements Page 12