Registered Charity No: 1121452
## **Holy Ghost Power Chapel**
**Trustee's report and financial statement for the year ended 31 December 2021**
**ABM Accountancy Ltd** Chartered Tax Advisers 1st Floor 10-12 Love Lane Pinner HA5 3EF England
## **Holy Ghost Power Chapel**
## **CONTENTS**
Legal and administrative information Trustees report Independent examiner's report Statement of fnancial Activities Balance Sheet Notes to the Financial Statements
1
Pages
8-11
## **Holy Ghost Power Chapel Legal and administrative information**
## **for the year ended 31 December 2021**
|**Charity number**|1121452||
|---|---|---|
|**Registered ofce**|Unit 4, Imperial Place||
||Maxwell Road||
||Borehamwood||
||Herts||
||WD6 1JN||
|**Trustees**|Rev. Patrick Tei Josiah|Chairperso|
||Lornette McLean||
||James Kpeglo|Appointed|
|**Secretary**|Lornette McLean||
|**Accountants**|ABM Accountancy Ltd||
||1st Floor 10-12||
||Love Lane||
||Pinner||
||HA5 3EF||
Page 1
2
15 October 2020
## **Holy Ghost Power Chapel**
## **Report of the trustees for the year ended 31 December 2021**
The trustees present their report and the financial statements for the year ended 31 Decemb The trustees who served during the year and up to the date of this report are set out on page
## **Structure, governance and management**
## _Governance_
The charity is registered as a trust and is governed by the Trust Deed (as amended in Septem The management of the charity is the responsibility of the Board of Trustees. The board of tru manage HGPC on a voluntarily basis. The Board of trustees meets from time to time to plan p ensure this policy is understood and implemented throughout the church. The Board of Truste delegate some power to the resident pastor to undertake projects and activities he considers the spiritual and social development of the members as well as in the local communities whe is serving.
To assist in the smooth running of the charity the trustees have set up a number of sub-comm help them oversee certain aspects of the charity's work. Sub-committees are currently set up Intercession, Welfare, Follow-up and Visitation, Health and Safety, Evangelism, Technical Ope Marriage Counselling. All the above sub-committees have been working diligently and suppor ministry to achieve its goals.
## **Objectives and activities**
## _Aim_
To advance the Christian religion for the benefit of the public.
## _Our mission_
To demonstrate the love of God to our community and to make Jesus real. To encourage personal growth by developing our people. To improve the image of the church by improving ourselves. To leave a legacy of hope and promise to future generations.
## _Our vision_
To develop, transform and impact lives.
## _Our goals_
To develop people and maximize their potential through the word of God. To set up branches worldwide.
To impact the Christian religion to our communities through outreach programmes.
## _Our Profile_
Holy Ghost Power Chapel (HGPC) is a church without walls and is presided over by Pastor Edw the resident pastor, who heads a multinational congregation of about 300 in Edgware in the n London. The Congregation members come from all over London and is instrumental in carryin News to their neighbourhoods through network of cell groups. HGPC is a growing church that to people with the gospel and power of Jesus Christ to restore broken lives.
HGPC is a growing church that reaches out to people from all walks of life with the gospel of J to restore broken lives. HGPC believes that God has a plan for everyone and that everyone ha to fulfil and the church will help its members to achieve this by teaching and equipping them of God. Our desire is to help members grow in the knowledge of Christ and to become a bless generation and leave a legacy and an example to unborn generations.
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ber 2021. e 1.
mber 2007). ustees policy and ees also s essential for ere the church
mittees that p for Protocol, rations and rting the
ward Miles, north west of ng the Good reaches out
esus Christ as a destiny with the Word sing to their
Page 2
**Report of the trustees for the year ended 31 December 2021**
## **Holy Ghost Power Chapel**
## **Achievements and performance**
This year the church organized a series of programmes designed to empower people spiritua emotionally and economically. One of the major meetings we organized was the "Youth Empowerment Conference" where the youths were inspired and motivated through p teachings of the Resident Pastor to achieve their aims and visions in life by putting a good p implementation agenda in place and encouraging them to have a positive mentality and a w In General they were impacted mentally, emotionally and spiritually to live up to their dream ensure they always have a positive attitude and a winning spirit.
## **Financial review**
The accounts for the year ended 31 December 2021 are shown on pages 6 to 11. The statem financial activities on page 6 shows the incoming resources available to the Church and the which the funds have been spent. This, together with the balance sheet on page 7, show tha value of the Church's unrestricted fund is £118,201. The Charity's income of £110,999 (31 D £102,131) which included income received from Gift Aid, was adequate to meet all direct ex well as the Charity's governance costs.
The Charity held £95,069 in bank balances at 31 December 2021 and in the Trustees' opinio continue to be in a position to pursue their charitable activities in the future.
## _Reserve policy_
The trustees have reviewed the reserves policy and consider it prudent to keep sufficient res invested in tangible assets and unrestricted, to enable it to meet its current liabilities as they This will be kept as a minimum cash reserve in the charity's account and or building fund ac be reviewed annually.
## _Risk Management_
The board of Trustees have assessed the major risk to which the charity is exposed in particu relating to the operations and finances of the charity, and are satisfied that systems are in p its exposure to the major risk.
## **Statement of trustees' responsibilities**
The trustees are responsible for preparing the Trustees' Annual Report and the financial state accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Accepted Accounting Practice).
Law applicable to charities in England and Wales requires the trustees to prepare financial st each financial year which give a true and fair view of charity and of the incoming resources a of resources of the charity for that year. In preparing these financial statements the trustees
select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed, subject to any departures disclosed and explained in the financial statements; and
Page 3
- prepare the financial statements on the going concern basis unless it is inappropriate t presume that the charity will continue in operation.
Page 3
ally, physically,
ractical lanning and winning spirit. ms and to
ment of extent to at the current December 2020, xpenditure as
on, the funds
serves, not y fall due. count and will
ular those place to mitigate
ements in Generally
tatements for and application s are required to:
material
Page 3
lo
Page 3
## **Holy Ghost Power Chapel**
## **Report of the trustees for the year ended 31 December 2021**
The trustees are responsible for keeping proper accounting records which disclose with accuracy at any time the financial position of the charity and enable them to ensure th statements comply with the Charities Act 1993 and the Charity (Accounts and Reports) 2008. They are also responsible for safeguarding the assets of the charity and hence fo reasonable steps for the prevention and detection of fraud and other.
On behalf of the board
Lornette McLean **Secretary**
Page 4
h reasonable at the financial Regulations or taking
Page 4
## **Holy Ghost Power Chapel**
## **Independent examiner's report to the trustees on the unaudited financial statem Ghost Power Chapel.**
I report on the accounts of Holy Ghost Power Chapel for the year ended 31 December 2021 pages 2 to 11. which have been prepared in accordance with the charities Act 2011 and wit Financial Reporting Standard aplicable to the UK and the Republic of lreland, effective 1 Janu adapted to meet the needs of unincorporated organisations, as modified by the Statement o Recommended Practice for Accounting and Reporting issued by the Charity Commissioners England & Wales, effective April 2005 as revised in June 2008. (The SORP) under the histori convention and the accounting policies set out on page 8.
## Respective responsibilities of trustees and independent examiner
As described on page 3, the Charity's trustees are responsible for the preparation of the fina statements. The trustees are satisfied that the audit requirement of Sectioh 144(1) of the C Act 2011 (the Act) does not apply, and that there is no requirement in the goveining docum constitution of the Charity for the conducting of an audit. As a consequence, the trustees ha elected that the financial statements be subject to independent examination. Having satisfi that the charity is not subject to audit, and is eligible for independent examination, it is my responsibility to:-
- a) examine the accounts under section 145 of the Act;
- b) to follow the procedures laid down in the General Directions given by the Charity Comm under section 145(5)(b) of the Act; and;
- c) to state whether particular matters have come to my attention.
## **Basis of independent examiner's statement**
I conducted my examination in accordance with the General Directions given by the Charity for England & Wales in relation to the conducting of an independent examination, referred t independent examination includes a review of the accounting records kept by the Charity an accounting systems employed by the Charity and a comparison of the financial statements those records. lt also includes consideration of any unusual items or disclosures in the finan and seeking explanations from you as trustees concerning such matters. The purpose of the to establish as far as possible that there have been no breaches of the Charities legislation financial statements comply with the SORP, on a test basis, of evidence relevant to the amo disclosures in the financial statements.
The procedures undertaken do not provide all the evidence that would be required in an aud supplied by the trustees in the course of the examination is not subjected to audit tests or e consequently I do not express an audit opinion on the view given by the financial statement particular, I express no opinion as to whether the financial statements give a true and fair v of the charity, and my report is limited to the matters set out in the statement below. ln connection with my examination, no matter has come to my attention:-
Which gives me reasonable cause to believe that, in any material respect, the requirements
- to keep accounting records in accordance with section 130 of the 2011 Act; and
- - to prepare accounts which accord with the accounting records and to comply with the a requirements of the 2011 Act.
## **ABM Accountancy Ltd**
**1st Floor 1 Love Lane**
Page 5
**Pinner HA5 3EF**
**Dated: 2022**
Page 5
## **ents of Holy**
set out th the uary 2015, of for cal cost ancial harities ent or avei ed mysef
mission
y Commissioners o above. An nd of the presented with ncial statements , e examination is and that the ounts and
dit, and information enquiries, and ts, and in view of the affairs
s:-
accounting
**10-12**
Page 5
## **Holy Ghost Power Chapel Statement of financial activities**
## **for the year ended 31 December 2021**
||**Unrestricted**|
|---|---|
||**funds**|
||**2021**|
||**Total**|
||**£**|
|**Incoming resources**||
|Incoming resources from generating funds:||
|Voluntary income|110,990|
|Investment income|9|
||**###**|
|**Resources expended**||
|Staf costs|38,269|
|Honororium|700|
|Rent, Rates and Insurance|37,997|
|Hotel and entertainment expenses|4,423|
|Motor and travelling expenses|5,797|
|Accountancy fees|800|
|Professional fees|890|
|Printing, Postage and Stationery|1,119|
|Media|8,080|
|Depreciation and impairment|3,240|
|Bank charges|503|
|Sundry expenses|726|
|**Total resources expended**|**###**|
|**Net incoming resources**||
|**for the year**|8,455|
|Total funds brought forward|109,746|
|**Total funds carried forward**|118,201|
The statement of financial activities includes all gains and losses in the year and therefore a separ statement of total recognised gains and losses has not been prepared.
All of the above amounts relate to continuing activities.
## **The notes on pages 8 to 11 form an integral part of these financial statements**
Page 6
## **2020 Total £**
102,066 65 **102,131**
28,982 300 37,446 1,750 5,682 750 1,120 410 5,914 9,140 572 602
## **92,668**
9,463 100,283 109,746
rate
**s.**
Page 6
## **Holy Ghost Power Chapel**
## **Balance sheet as at 31 December 2021**
|**2021**
**Notes**
**£**
**£**
**FIXED ASSETS**
Tangible assets
**3**
18,624
**CURRENT ASSETS**
Debtors
4
5,903
Cash at bank and in hand
95,069
100,972
**Creditors: amounts falling**
**due within one year**
**5**
(1,395)
99,577 99,577
**Net Current Assets**
**Total assets less current**
**liabilities**
**Creditors: amounts falling due**
**after more than one year**
6
NIL
**###**
**Net Assets**
Unrestricted income funds
118,201
118,201
The fnancial statements were approved by the trustees on
**Lornette McLean**
**Trustee**|**20**
**£**
13,500
93,210|
|---|---|
||106,710
(6,463)|
||a|
## **The notes on pages 8 to 11 form an integral part of these financial state**
Page 7
**20**
**£**
13,864
100,247
(4,365)
## **###**
109,746 109,746
nd signed on its behalf by
**ements.**
Page 7
## **Holy Ghost Power Chapel**
## **Notes to financial statements for the year ended 31 December 2021**
## **1.6 Leasing**
Assets obtained under hire purchase contracts and finance leases are capitalised a assets and depreciated over the shorter of the lease term and their useful lives. Ob under such agreements are included in creditors net of the finance charge allocate periods. The finance element of the rental payment is charged to the profit and los as to produce constant periodic rates of charge on the net obligations outstanding
## **1.7 Defined contribution pension schemes**
The pension costs charged in the financial statements represent the contribution p charity during the year.
## **2. Employees**
|**Employment costs**
Wages and salaries
Pension Costs|**2021**
**£**
38,269
0|
|---|---|
||**38,269**|
No employee received emoluments of more than £60,000 (2020 : None).
## **Number of employees**
The average monthly numbers of employees (including the trustees) during the ye on the basis of full time equivalents, was as follows:
**2021 Number** 1
Page 9
as tangible bligations ed to future ss account so in each period.
payable by the
**2020 £**
28,746 236 **28,982**
ear, calculated
**2020 Number** 1
Page 9
## **Holy Ghost Power Chapel**
## **Notes to financial statements for the year ended 31 December 2021**
## **1. Accounting policies**
The principal accounting policies are summarised below. The accounting policies consistently throughout the year and the preceding year.
## **1.1 Basis of accounting**
The financial statements are prepared under the historical cost convention and in the Statement of Recommended Practice 'Accounting and Reporting by Charities 2005 (SORP 2005) and the Charities Act 1993.
## **1.2 Cashflow**
The charity has taken advantage of the exemption in FRS1 from the requirement cashflow statement because it is a small charity.
## **1.3 Incoming resources**
All incoming resources are included in the statement of financial activities when t entitled to the income and the amount can be quantified with reasonable accurac specific policies are applied to particular categories of income:
Voluntary income is received by way of grants, donations and gifts and is include statement of financial activities when receivable. Grants where entitlement is no specific delivery of a performance by the charity, are recognised when the charit unconditionally entitled to the grant.
Donated services and facilities are included at the value to the charity where this The value of services provided by volunteers has not been included.
Gifts donated for resale are included as incoming resources within activities for g they are sold.
Income from investments is included in the year in which it is receivable.
## **1.4 Resources expended**
Expenditure is recognised on an accrual basis as a liability is incurred. Expenditu which cannot be fully recovered, and is reported as part of the expenditure to wh
Costs of generating funds comprise the costs associated with attracting voluntary costs of trading for fundraising purposes including the charity's shop.
Charitable expenditure comprises those costs incurred by the charity in the deliv and services for its beneficiaries. It includes both costs that can be allocated dire and those costs of an indirect nature necessary to support them.
## **1.5 Tangible fixed assets and depreciation**
Tangible fixed assets are stated at cost less accumulated depreciation. Depreciat rates calculated to write off the cost less residual value of each asset over its exp as follows:
- Fixtures, fittings and equipment Motor vehicles -
10% straight line 10% straight line
Page 8
Hire purchase motor vehicle
33.33% straight line
-
Page 8
have been applied
n accordance with ' issued in March
to produce a
the charity is cy. The following
ed in full in the t conditional on the ty becomes
s can be quantified.
enerating funds when
re includes any VAT hich it relates.
y income and the
ery of its activities ectly to such activities
tion is provided at pected useful life,
Page 8
## **Holy Ghost Power Chapel**
## **Notes to financial statements for the year ended 31 December 2021**
|**3.**
**Tangible fxed assets**
**Cost**
At 1 January 2021
Additions
At 31 December 2021
**Depreciation**
At 1 January 2021
Charge for the year
At 31 December 2020
**Net book values**
At 31 December 2021
At 31 December 2020|**Fixtures,**
**fttings and**
**equipment**
**£**
32,176
8,000
**40,176**
19,384
2,740
**22,124**
**18,052**
**12,792**|**Motor**
**vehicles**
**£**
20,977
-|
|---|---|---|
|||**20,977**|
|||19,905
500|
|||**20,405**|
||||
|||**572**|
|||**1,072**|
Included above are assets held under finance leases or hire purchase contracts as follow
|**2021**
**Net**
**Hire Purchase**
**book value**
Motor Vehicle
**572**
**4.**
**Debtors**
Other Debtors|**Depreciation**
**Charge**
**3,240**|**2020**
**Net**
**book value**
**1072**|
|---|---|---|
|||**2021**
**£**
**5,903**|
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## **Total**
**£**
53,153 8,000 **61,153**
39,289 3,240 **42,529 18,624 13,864**
ws:
**Depreciation Charge**
**6400**
**2020 £**
**13,500**
Page 10
## **Holy Ghost Power Chapel**
## **Notes to financial statements for the year ended 31 December 2021**
|**5.**
**Creditors: amounts falling due**
**within one year**
Finance Lease
Trade creditors
Other taxes and social security
Accurals and defered income|**2021**
**£**
0
95
500
800|
|---|---|
||**1,395**|
## **6. Creditors: amounts falling due after more than one year**
Net obligations under finance leases and hire purchase contracts
**2021 £** -
## **7. Unrestricted funds**
Funds
||**At**|||
|---|---|---|---|
|**1**|**January**|**Incming**|**Outgoing31**|
||**2021**|**resources**|**resources**|
||**109,746**|**###**|**102544**|
Page 11
**2020 £** 5118 95 500 750 **6,463**
**2020 £** 4,365
**At December 2021**
**118,201**
Page 11