REGISTERED COMPANY NUMBER: 05651902 (England and Wales) REGISTERED CHARITY NUMBER: 1122674
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 December 2020
for
Prophetic Resurrection Ministry
International
Hanson & Associates Chartered Certified Accountants Room 19 Anerley Business Cerntre Anerley Road London SE20 8BD
Prophetic Resurrection Ministry International
Contents of the Financial Statements for the Year Ended 31 December 2020
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 3 |
| Independent Examiner's Report | 4 | ||
| Statement of Financial Activities | 5 | ||
| Balance Sheet | 6 | ||
| Notes to the Financial Statements | 7 | to | 10 |
| Detailed Statement of Financial Activities | 11 |
Prophetic Resurrection Ministry International
Report of the Trustees
for the Year Ended 31 December 2020
2020 year started very well but, like everyone, we have experienced the dramatic contrast between plans and reality. 2020 will not be forgotten in a hurry. Undoubtedly it will be known as a year of doing things differently and more creatively.
All of us at Prophetic Resurrection Ministry International faced unforeseen challenges. Our church services and premises were shut down for nine months due to the enforced Government restrictions for the health and safety of our congregants as a result of Covid-19 pandemic.
As a church, we have taken great inspiration from the ways our congregants, volunteers, pastors, prayer team and all the fellowship groups have dealt with these unprecedented times. They have done so well. It has also been heartening to see Facebook team and our prayer line team rise to the challenges of the unprecedented situation. Despite the closure of our church and shutdown of all weekly church services, our pastoral team worked exceptionally hard to deliver pastoral care to all congregants especially those affected by Covid-19 pandemic.
Our Weekly worship, prayers, bible knowledge and teachings were delivered through Social Media platforms. This was very pivotal in our ability to deliver words of comfort, healing, faith and hope to our congregants and to all Christians around the world.
If the year has shown us one thing, it is the fundamental necessity of believing and trusting in God at a time when all hopes were gone.
It was not possible to hold our annual summer holiday sports and evangelism day at the local park due to the Covid-19 pandemic.
INCORPORATION
The charitable company was incorporated on 12 December 2005 and commenced trading on the same date.
OBJECTIVES AND ACTIVITIES
Objectives and aims
The Trustees maintains the overview of worship and activities throughout the year including
-
" Worship and Prayer
-
" Biblical knowledge and Teaching
-
" Empowering and discipling the Youth
-
" Pastoral Care for all congregants
-
" Evangelism in our community and the world at large
-
" Prophetic Direction and revelation of God's purpose
To organise Church Services
To run Bible lessons
To hold Crusades, personal evangelism, Seminars and conferences
To produce and distribute Christian CDs, books and live videos
To use television, radio and related mechanism for teaching the word of God
Significant activities
Achievements and performance 2020
Worship and prayers during 2020 were adapted to respond to the restrictions of the Covid-19 pandemic. During the times of closure enforced by the Government restrictions, worship and prayers were delivered through social media, especially Facebook.
A prayer line was established where all congregants and general public joined for daily prayers, inspiration, counselling and support. Through this a number of souls were won into the Church.
Multiple WhatsApp groups were also established to keep congregants connected and supported. The pastoral team were carrying out intersessional prayers during the period of lockdown. Our pastoral care team have continued to take care of those members of the congregation who are unwell, in need or in isolation.
Page 1
Prophetic Resurrection Ministry International
Report of the Trustees
for the Year Ended 31 December 2020
OBJECTIVES AND ACTIVITIES
Public benefit
Prophetic Resurrection Ministries International welcomes all within its communities and branches. At the heart of our pastoral care is the essence to meet the needs of our congregants and local communities both spiritual, soul and body. The Trustees have assessed the disclosures made in the Trustees' report and consider that these sufficiently detail the significant activities undertaken in order to carry out the charity's aims for the public benefit. When planning the charity's activities, the Trustees have given regard to the Charity Commission's guidance on public benefit. The trustees raise awareness and understanding of Christian faith by various means including promoting the religious teaching, providing a recording studio for budding gospel musicians, producing CDs, counselling, training, support and providing live streams of our Sunday services to the world at large.
Our evangelism team regularly go out to preach the gospel in a variety of locations. The outreach team are charged with visiting of the sick, those in prison and hospital. All PRMI activities are available to Christians and non-Christian members.
The church is open to the world at large and there is no restriction to attendance of Church service. The wider community are encouraged to attend PRMI services, celebrating Christian's festivals including Easter, Christmas, New Year Eve Services.
The church has a vibrant youth ministry, overseas ministries, social media prayer ministry, counselling, pre-marital and marital counselling.
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.
Organisational structure
Structure, governance and management
The management of Prophetic Resurrection Ministries International (PRMI) is the responsibility of the Board of Trustees. The board of Trustees manage PRMI on a voluntary basis. The board meets from time to time to plan policies and ensure theses policies are understood and implemented throughout the church.
The Board of Trustees also delegate some powers to the pastoral team to undertake projects and activities considered to be essential for the spiritual and social development of the members as well as in the local communities where the church serves.
Risk management
The Trustees have assessed the major risk to which the charity is exposed, in particular those relating to the operations and finances of the Charity, and are satisfied that systems are in place to mitigate its exposure to the major risk.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
05651902 (England and Wales)
Registered Charity number
1122674
Registered office
96 Windmill Road Croydon Surrey CR0 2XP
Trustees
Rev A Amoako P Plange K Obeng
Page 2
Prophetic Resurrection Ministry International
Report of the Trustees
for the Year Ended 31 December 2020
REFERENCE AND ADMINISTRATIVE DETAILS Company Secretary
Independent Examiner
Alfred K Hanson Association of Chartered Certified Accountants (ACCA) Hanson & Associates Chartered Certified Accountants Room 19 Anerley Business Cerntre Anerley Road London SE20 8BD
Approved by order of the board of trustees on 19 September 2021 and signed on its behalf by:
P Plange - Trustee
Page 3
Independent Examiner's Report to the Trustees of Prophetic Resurrection Ministry International
Independent examiner's report to the trustees of Prophetic Resurrection Ministry International ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2020.
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:
-
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 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
-
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 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.
Alfred K Hanson Association of Chartered Certified Accountants (ACCA) Hanson & Associates Chartered Certified Accountants Room 19 Anerley Business Cerntre Anerley Road London SE20 8BD
25 September 2021
Page 4
Prophetic Resurrection Ministry International
Statement of Financial Activities
(Incorporating an Income and Expenditure Account) for the Year Ended 31 December 2020
| Unrestricted | ||
|---|---|---|
| fund | ||
| Notes | £ | |
| INCOME AND ENDOWMENTS FROM | ||
| Donations and legacies | 40,194 | |
| EXPENDITURE ON | ||
| Raising funds | ||
| Raising donations and legacies | 2 | 5,799 |
| Other trading activities | 22,265 | |
| 28,064 | ||
| Charitable activities | ||
| CHARITABLE ACTIVITY | 15,761 | |
| Other | 47,000 | |
| Total | 90,825 | |
| NET INCOME/(EXPENDITURE) | (50,631) | |
| RECONCILIATION OF FUNDS | ||
| Total funds brought forward | ||
| As previously reported | 401,176 | |
| Prior year adjustment | 6 | (102,483) |
| As restated | 298,693 | |
| TOTAL FUNDS CARRIED FORWARD | 248,062 |
The notes form part of these financial statements
Page 5
Prophetic Resurrection Ministry International
Balance Sheet 31 December 2020
| Unrestricted | ||
|---|---|---|
| fund | ||
| Notes | £ | |
| FIXED ASSETS | ||
| Tangible assets | 7 | 481,206 |
| CURRENT ASSETS | ||
| Cash at bank | 36,675 | |
| CREDITORS | ||
| Amounts falling due within one year | 8 | (700) |
| NET CURRENT ASSETS | 35,975 | |
| TOTAL ASSETS LESS CURRENT | ||
| LIABILITIES | 517,181 | |
| CREDITORS | ||
| Amounts falling due after more than one year | 9 | (269,119) |
| NET ASSETS | 248,062 | |
| FUNDS | 11 | |
| Unrestricted funds | 248,062 | |
| TOTAL FUNDS | 248,062 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 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.
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 19 September 2021 and were signed on its behalf by:
P Plange - Trustee
The notes form part of these financial statements
Page 6
Prophetic Resurrection Ministry International
Notes to the Financial Statements for the Year Ended 31 December 2020
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, as modified by the revaluation of certain assets.
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.
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.
Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
continued...
Page 7
Prophetic Resurrection Ministry International
Notes to the Financial Statements - continued for the Year Ended 31 December 2020
| 2. | RAISING DONATIONS AND LEGACIES | |
|---|---|---|
| £ | ||
| Support costs | 5,799 | |
| 3. | NET INCOME/(EXPENDITURE) | |
| Net income/(expenditure) is stated after charging/(crediting): | ||
| £ | ||
| Depreciation - owned assets | 12,933 |
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2020. Trustees' expenses There were no trustees' expenses paid for the year ended 31 December 2020.
5. STAFF COSTS
The average monthly number of employees during the year was as follows: Principal 1 No employees received emoluments in excess of £60,000.
6. PRIOR YEAR ADJUSTMENT
Prior Year Adjustments include;
- reinstating revaluation amount of Freehold Property to £590,000 as at 10 November 2010. 2. reinstating Rev Akwasi Amoako as sole creditor of the organisation with £240,000 representing a) £140,000 paid by Rev Amoako to complete the purchase of Freehold Property in February 2009; b) £100,000 spent by Rev Amoako on the refurbishment of the property.
continued...
Page 8
Prophetic Resurrection Ministry International
Notes to the Financial Statements - continued for the Year Ended 31 December 2020
7. TANGIBLE FIXED ASSETS
| 7. TANGIBLE FIXED ASSETS |
||
|---|---|---|
| Improvements Freehold to Plant and property property machinery £ £ £ COST OR VALUATION At 1 January 2020 403,348 - - Additions 186,652 5,339 5,000 At 31 December 2020 590,000 5,339 5,000 DEPRECIATION At 1 January 2020 42,424 - - Charge for year 11,800 133 1,000 Revaluation adjustments 63,776 - - At 31 December 2020 118,000 133 1,000 NET BOOK VALUE At 31 December 2020 472,000 5,206 4,000 8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Accrued expenses 9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR Bank loans (see note 10) Other loans (see note 10) 10. LOANS An analysis of the maturity of loans is given below: Amounts falling between one and two years: Bank loans - 1-2 years Amounts falling due between two and five years: Bank loans - 2-5 years Amounts falling due in more than five years: Repayable otherwise than by instalments: Other loans more 5yrs non-inst |
Totals £ 403,348 196,991 |
|
| 600,339 | ||
| 42,424 12,933 63,776 |
||
| 119,133 | ||
| 481,206 | ||
| £ 700 £ 29,119 240,000 |
£ 700 |
|
| 269,119 | ||
| £ 5,824 |
||
| 23,295 | ||
| 240,000 |
continued...
Page 9
Prophetic Resurrection Ministry International
Notes to the Financial Statements - continued for the Year Ended 31 December 2020
11. MOVEMENT IN FUNDS
| Unrestricted funds General fund TOTAL FUNDS Net movement in funds, included in the above are as Unrestricted funds General fund TOTAL FUNDS |
At 1.1.20 £ 401,176 401,176 follows: |
Prior year adjustment £ (102,483) (102,483) Incoming resources £ 40,194 40,194 |
Net movement At in funds 31.12.20 £ £ (50,631) 248,062 (50,631) 248,062 Resources Movement expended in funds £ £ (90,825) (50,631) (90,825) (50,631) |
|---|---|---|---|
12. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2020.
Page 10
Prophetic Resurrection Ministry International
£
Detailed Statement of Financial Activities for the Year Ended 31 December 2020
| INCOME AND ENDOWMENTS Donations and legacies Donations Grants Total incoming resources EXPENDITURE Other trading activities Rent Waste Collection Charitable activities Rates and water Insurance Light and heat Telephone Security Fees Administrative Expense Activity Cost-1 Other Freehold property Improvements to property Plant and machinery Support costs Governance costs Wages Social security Pensions Bank Charges Fees & Licence Accountancy and legal fees Total resources expended Net expenditure |
20,108 20,086 40,194 40,194 21,310 955 22,265 6,206 1,200 1,443 793 704 3,850 1,565 15,761 11,800 133 1,000 12,933 28,855 2,770 1,742 266 2,013 4,220 39,866 90,825 (50,631) |
|---|---|
This page does not form part of the statutory financial statements
Page 11