REGISTERED COMPAP4Y NUMBEIL" 06550075 {England and Wglles) REGISTERED CHARITY NUMBER: 1123975 (England and Wale5) SC041252 (Scotland) RT FTHET TEE AND FOR
THE CHURCH OF PENTECOST- UK CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMETr4TS FOR THE YEAR ENDED 31ST DECEMBER 2023 Page Referenee admlrtlstratlye det8115 Report ofthe tTllJteex 2 to 12 Report of the independent audlto 13 to 16 Statement of nnn£l818¢tfvitl 17 10 18 Statement orrinn¢ial position 19 to 20 ststement of ¢a$h flowj and notes 21 to 24 Notes to the fin8nciil t8ternenti 25 10 40 Detalled $t4tem¢nt of nnan¢lo1 ¢tlvltl 41 to 42
THE CHURCH OF PEJ¥TECOST- UK REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED JIST DECEMBER 2023 TRUSTEES Reverend Dr. L. Donkor (ChAimian) Reverend K. Fr¢mpong-Boadu (S¢cretary) Elder S. Owusu-An5ah (National Deacon) Reverend G. Korankye Reverend E. Dan50 Reverend M. Tedeku Reverend A. Arthur Reverend E. Appiah Reverend C.T Adu]x)ng (appointed 05.07.24) Elder E. Simpson {oppointed 25.07.24) Eld¢r K. Adomako (re5ign¢d 01.05.24) R¢verend Alex Apcntenx-Boai¢ng (resigned 01.05.24) COMPANY SECRETARY Reverend K. Frempong-Boadu REGISTERED OFFICE 746 Green Lane Dagcnharn Essex RM8 IYX REGISTERED COMPANY NUMBER 06J50075 (England and Walex) REGISTERED CHARITY NUMBER 1123975 (England and Wales) SC041252(Scotland) INDEPENDENT AUDITORS Leroy Reid & Co Chartered Certified Accountants and Statutory Audiiors 299 Northborough Road London, SW16 4TR SOLICITORS Anthony Collin5 Solicitors LLP 134 Edmund Street Bim]ingharn, B3 2ES BANKERS Royal Bank of Scotland 36 St Andrew Squore Edinburgh, EH2 2YB Lloyds Bank 25 Gresham Street London, EC2V 7FfN The Charity Bank Fosse Ilouse 182 High Street Tonbridge, TN9 IBE
THE CHURCH OF PEf4TECOST- UK REPORT OF THE TRUSTEES FOR THE YEAR ENDEDJIST DECEMBF.R 2023 The tTU5tees who are also directors of the charity for the purposes of the Companie5 Act 2006, present their report with the financial statements of the charity for the year ended 3 1st December 2023. Thc tru5tce5 have adopted the provisions of Accouniing and Reporting by Charitlcs.. Statement of Recommended Practice applicable to charitie$ preparing their financial statements in accordance with the Fillancial Reporting Standard$ applicable in the UK and Republic of Ireland (FRS 102), (effective l January 2019). ORJECTIVES AND ACTIVITIES Obje¢tives And alms Th¢ Tnain aim of the Church 15 to bring thc world to the saving knowledge of Christ. Th¢ church seeks to achieve 115 aim by pursuing the following obje¢iive$ -To advance thc Christian foith. the Word of God and the full gospel of our Lord Jesu5 Christ in accordance with the Tenets of Traiih in such ways 4thd in 5u¢h parts iTrf th¢ United Kingdorn or the world a5 the trustees may, from time to time, dc¢m fit. -To reliev¢ sickne55 and financial hardship and to promote and prcscrvc good health by the provision of funds, goods and s¢rvi¢c5 of any kind, including the provision of pastoral support and counsellin8 in such parts of the United Kingdorn or the world as the tru51ces deem fit: and -'I"o advanc¢ cducation in such ways and in such part5 of the United Kin&dom or the world ay the trusteeg deem fit. Th¢ trustees continue to pay due rcgard to guidance issued by the Chgrity Commission in dccidin8 what activitie5 thc charity should undertake. Public beneflt The trustees of The Church of P¢nt¢co$l-UK had du¢ regard to the public benefit guidance published by thc Charity Commission in complion¢¢ with thcirdutics under Section 17 ofthe Charities Act 201 l and'l'he Charities Account¥ (Scotland) Regulation 2006 (A$ Am¢nd¢dl. Thi.5 gyuidance sets Out two key principles, namely the organisation must have an ideniiliable b¢nefii and thc bcncfit must be to the public or a section of the public. Some of these benefits are set out below.. Thc operalion5 of the church durin% the pcriod under rtview helped people to leam and roW &$ Lhri3tian5, Ihrough scmions and Ilible Study sesgions And allevialcd povety in ih¢ UK and abroad and 5UPPOrted the provision of rcli8ious education. 48 university campuses were offered pastornl care and coun5elling through the Penlecost Student5 and Associates {PENSAI. Liverp(M)I church premises were used for ih¢ lo¢al UnCL[ elections. -lThe Church's place of worship in Manches¢er was used by a Nursery School to provide nursery education for children in the Ioc81 community. I minist¢r joined th¢ Street Pastors group to offer pa5tornl care and Support lo the homele¥s, nightclub goers and th¢ public. minister was trained by West Midlands police io offer voluntrer chaplaincy scrvic¢s io the Wesi Midlands police. Ilospi1o1 chaplaincy service5 were provided at St. Matthews, Elroomhill and Darlingion 14ospitals in Northampion and oiher citie5. The church's Foodbank in Milton Keynes entered into the Guinne55 Book of Records for achieving the fcal of the most collectcd food cans in thc world. Thc District rcccivcd a certificate of participation and recognition. Wc iJftrr¢d placernents for Sixih Fotin students in the Watford community. 5 di5tricls 5UPPOrted local food banks in their communities in London and the West Midlands. The Women's Ministry donated 8SSOrted item5 to the Samaritan5. A district collabornted wilh Kew Neighbouthood Association, and Northampton district supported"Eve" a local charity that support5 Livcs Affected by Domcstic Abuse." The Ministers and some volunteer counselloTS of the Church Tun counselling 5e55ions that ar¢ aeSsIble to any member of thc lo¢al Community. The Church organised Youth and Kid5, Club5 during school breaks to help children and young people with th¢ir academi¢ work and equipped them with life skills And general knowledge in various communities.
THE CHURCH OF PENTECOST- UK REPORT OF THE TRUSTEES FOR THE YEAR ENDEDJIST DECEMBER2023 Public benefit- eont'd Priwn Fcllowship volunteers deliY¢red multiple orte-hour lasting church services within the prison walls of ourparther institutions, HMP Maidstone, klMP Rochester. and Heathrow Immigration Removal Centre (IRC). The Trustees have read thc Charity Commission guidance on public benefit. and are satisfied ihat the activities outlined abov¢ Gl¢arly demonstrate that the charity is providing a benefit to the public VoluNtfers The Church makes cxtensive use of volunteer8 in¢ludimg Elders, Deacons, Deacon¢5ses, and other lay memb5 in the perfonn8nce of its activities. Their sacrificial giving and 5elfle5s devotion to the work of the Church 15 greatly appreciated by the I'rustees orth¢ Church. STRUCTURE, COVERNANCE AND MANAGEMENT Gov¢rnlnE document The Charity 15 governed by its memorandum and Articles of Asso¢i81ion. In oddition, as il op¢rAt¢$ as a company limit¢d by guarantee, it is subject to the pmvisions of Companies Act 2006. iKgal Structure of the eharlty The Lhurch of Pcntccosi-UK was ineorpDrot¢d as a Company limited by guarantee on 31 March 2008 and registered as a UK Charity on 7 May 2008. Prior io its incorporation, the church operated in the UK as an aifili&le of Elim Foursquare (iosp¢I Allian¢¢. Subsidiary On 5 August 2020. th¢ Church ofpentecost-UK became the 501e member of Birniingham Chrisiian Collcgc, a re8lStcred ¢hgrity incoTpora¢cd in England and Wales. The charity and company registration numbers arc 1002205 and 2320164 resPtiVg1y. ljirmingham L'hristian Collcge's registered address IS.. CrowLher Hall, I lamillon Drive Selly Oak Birmingham B29 6AJ Recruitment and appolntment of n¢w tru$l¢eJ Thc trustC¢3 are drawn from a pool of ¢xp¥ricn¢¢d minislcr5 and a1(¢T$ who are well versed in the operalions of the church. However, ev¢ry effort 15 mad¢ by the chuTch io brief the trustees of theiT legal responsibilities on a regular bB5iS. Ch#rlty strctUre hierarchy The Charity is d¢¢entrdlis¢d into five admini5tralive areas- London North, London South, Milton Keyncs. Mmnchcstcr and Birrningham. The five administTative ureas oversee the op¢rations of 31 Pastoral DL3trirt5. Th¢ flfth administrative area- Birmingham Area, was created and inaugurated in S¢pt¢mber 2022. 1¢ wa5 ¢arv¢d outof M4n¢h¢5t¢rand London South Area5 and comprises of the seven und¢rlisi¢d di51ri¢ts- Bimingham PIWC District Birniingham District -Tclford District -Graccland PIWC Di51ricl -Wolv¢rhapl0n PIWC -Cardiff District -CoY¢rttry District
THE CHURCH OF PENTECOST- UK REPORT OF THE TRUSTEES FOR THE YEAR ENDED JIST DECEMBF.R 2023 During the year ended 31 D¢cernber 2023, 182 (2022.. 172) local churches okxrated under the supcrvi5i0T) of ihc 31 P8StorAI Districts. Ten (10) local churches were opened in the following cities.. Croydon, Hull, Norwich, Cambridgc, Win¢hesi¢r and BoLwn¢mouth. I*vel$ ofgovernance To ¢nsur¢ activc participation of members in the operations of the church. the charity ha5 established four levels of govcrnance to rcflectthe decentralised nature of its operations. These are; thc National Council, Area Council, District Presbytery and the Local Presbytery. The role and composition of the various bodies are explained below- The National Counell The National Council is th¢ high¢51 deci5ion-rnaking body of the church. It nomially m¢¢t5 on¢¢ J year in eiih¢r Januory or february. In ac¢ordan¢¢ with ¢h¢ governing document of the church. the trustees rep(Trrt fo lh¢ NatiODal Pr¢sbyt¢ry Council on th¢ progress and operations of the church. Issues of major importance are submitted to thc National Council meeiing by th¢ Trusl¢c5 for guidance. The National Council consi8ts of the Truyt¢¢s, Minist¢rs of th¢ Church, Ministcr5' Wives, Area and District Executivcs. Area Ministries, Leaders, Presidin8 Elders, National Mini5tri¢5' L¢adcr5 and their Ikputie5, two Deacons and three deaconesses from each DistricL Chairnien of National Boards and Committees, and all ihc rncmbers of lh¢ Naliunal Finan¢¢ Board. Trustee Boardn4ation21 Exeeutlve Councll (NEC) The Trustee Iloard is responsiblc for th¢ day to day running of th¢ ¢hurch. Ih¢ Board 1$ m4d¢ up of 9 mcmbcrs.. sev¢n ministers and 2 elecied lay offi¢¢rs {F.Id¢rs). 'lTh¢ Tninisl¢ri81 group of lh¢ TnJ5t¢¢ Board 15 made up of the National Head (head of ihe Irusi¢¢ board), h¢ad5 of thc Admini5trntive Areay (th¢ fivc Aa H¢ads), and vn¥ Mini5t¢rfs rcprcsentative. The Mini5t¢r5' reprc5¢ntatiYc and the two lay leaders of the church are elected by th¢ Tn¢mb¢rs of the National Council. F.lect¢d tru51c¢s scrvc on the Trnstee ljoard for four (4) year5 and are eligible for rc-election. Th¢ leader of¢he Wornen'5 Ministry and hcr a5SlStant are invited to attend meetings of the Trustcc Board. 'thi5 docs not only ¢nhAnc¢ the d¢¢i5ion-making proce55 of the NEC but a130 creates an environment for thc views of major $iak¢hold¢r& of the church to be heard the at top management Icvel of the church. The C,hurch ofpentccost-UK is part of the Church of Pcnieeosl, a 8lobo1 denomination. It is worth noting that while d¢¢ision5 rclating to thc opcrations of the church are madc by thc trustees in the UK, the Choirni&n of the Board of '] rustee5 (National Hcad) is appointed by the International Execulivo Council ofthe Church of Pentecost. The Area Councll The Area Council is the hi8h¢st poli¢y implem¢nlalion body in th¢ Ar¢a. It r¢¢¢ives and rdtifi¢s r¢ports submi(t¢d to it by the various parts of th¢ ¢hur¢h operating in the Area. Thc Arca Louncil clects thc m¢mb¢rs of th¢ Area Ex¢¢utive Committee. a body responsible for th¢ running oFthc church in the Arca. 'Ih¢ Ar¢a Council ¢onsi$t$ of the Arell I lead, Ministers of the Church in the Admini8trativc Arca, Ministers, Wive5 in the Area, Ar¢& and Distri¢¢ Executives, Area Mirtistri¢s' l.eaders. the Presiding Elders of the local churches, two Deacons and three Deacone55es from cach Di$tri¢t in the Area. The Arca Council meets at least twice every calendar year. Dijtrict Presbytcry The Dtstrict Presbytery is thc highest pDlicy implementatLOrt body in the district. It consists of the District Minister, the District Minister's Wife, F.Idcrs, Deacon5 and Deacon¢ss¢s in thc District. The District Presbytery elect5 the mcmbcrs ofthe District F.XECUtive Commill¢c, a body r¢spon5ibl¢ for th¢ running ofih¢ church in thc district. The District Presbytery elccts ihe non-pa5toral member5 of the DistTiCt bx¢cutive Commill¢¢.
THE CHURCH OF PENTECOST- UK REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2023 The Local Presbytery The l.ocal Presbytery decides on matters eort¢crning the local ¢hur¢h. which are d¢legat¢d to it by the Trnstees (National Executive Council). It consists of the District Minister, the District Ministevs Wife, Elders. Deacons and Deaconesse5 in the local church. In the absence of the Di5trici Minister, the Local Presbytery is hcaded by a Presiding Elder who is elected by rhe I,o¢al Presbyt¢ry for th¢ day to day running of rhe lo7 church. P•rtl¢lp8¢lon of Memberg Members porticipat¢ in th¢ TUT)ning of the charity through their representatives at National Council M¢ctings. I Addition, ¢ir¢ular5 ar¢ scnt from the NationE41, Area and District to member5 10 inforni them of decisions and activitie5 of th¢ church on a rcgular basis. Key Management Personnel and Rernuneratlon AII issues relating to lh¢ woiking conditions of Ministers of th¢ Church Are decided by the Slllaries Committee. a suIFcommittee of the Finance Board. Thc %alarics Committee 15 made up of the non-paid officer5 of th¢ ¢hur¢h on ihc Naiional Financ¢ Board. To ensure transparency and independence in the settin¥ of Ministers, Stipend, the Salaries Comrnitt¢¢ ha5 over the years adopted ihe Salaries Scale recommended by Elim Foursquare Gospel Allian¢¢ for its Ministers. 'lThe a¥w¥at¢ amount paid to key management personnel durin8 ¢h¢ year is dclail¢d b¢low' Namc Rev F. Donkor Rev O Afriyie Rev J Sam Rev G Korankye Rev F. t)anso Rey K F- Boadu Rev E Y Appiah R¢v M T¢deku Rev C Adup(trng Rev A Arthur Position National Head Retired R¢tir¢d Area Head District Pa51or National Scc Arca Head Area Head Area Head Area Head 2022 50,220 39,819 35,163 49,768 43,370 46,788 41,188 39,652 53,736 5,508 59.244 48,062 5,796 5.562 5,610 5,610 5,796 5,432 53,858 46.680 50.492 52.892 53.858 43.464 50,882 47,282 48,062 38.032 374,192 419,068 386.548 .1 ru51ee5 were reimbursed expenses for the year Ls shown below.. Position 2023 2022 Rev O Afriyie Rev K F- Boadu Rev E Y Appiah R¢v l. Danso Rev E Donkor Rev J Sam Elder J Adomako National Head National Se Arca Head District Pastor BCC Ijrincipal Arca Hoad National Deacon 604 165 135 1.029 Nil 286 Trustees and Related parties light trust¢¢s. by vinue of their positions as Pastors of the Church reccivc a salary a5 stated in their conditions of seryice. Those individuals are shown under thc heading"Key Management Personnel and Remuneration" above. Ther¢ werc no related paty transactions with any connected person other than those disclosed in the related party.
THE CHURCH OF PENTECOST- UK REPORT OF THE TRUSTEES FOR THE YEAR ENDED31ST DECEMBER2023 STRATEGIC REPORT Aehievement gnd perform2rt¢e- Ch4ril4bl¢ a¢tivitie5 The 2023 ann[ iheme ofThe Church of P¥nt¢cost, "Repositigning the local church for Tnaximum impa¢¢ in the nations" (Col. 2.'fv7' 1 Thess. 2.19-20) guid¢d all a$p¢¢ts of the ministy of th¢ Church of Peniecost-UK, during the year ended S l December 2023. In addition, due regaid wa$ paid to the 5-y¢ar 5trat¢gy of the chur¢h, dubbed "Vision 2023. which eentral trusi is to mak¢ the presence of the ChUh felt in every sphere of so¢iety through members, service in their communitie5 With the high¢st cthical and mordl principles. Initial assessment of the impact of the implementation of Vision 2023 ha5 been largely positive. MembeTS have become mor¢ aware of the need fur the chur¢h to be actively engaged in the community, promoting service, cornpa55ion and social integration. The church empha5ised the need for members to understand that the Great Commission requires full participation of members in thc SOCiOweconomic tx)litical activiti¢s of thcir immediate ertvironment and en&urin¥ that the values and principles of the kinbdom of God ar¢ brought io bear in the 50cio-economi¢ de¢isions made in their environment. In a nutshcll. the Church equipped memb¢rs and volunteers for the ia5k of spreading love. compassion, Standing up against bigoty, hatrcd anti-social behaviuur and promote social integration wherever they aTe. The following are som¢ of the A¢(ivitie5 undertaken by the charity during the ycar under review.. Membershlp slatlstlcs Membership increased by 15.3P/( from 22.045 to 25.419 wh¢n ¢omp8r¢d wi¢h same period in 2022. 'lThe a8e distribution of membership al 31 December 2023 is a8 follows: Chilitr¢n below 13 years- 5.669 (22.3Yo),' 2022 - 5,400 (24.5Vo). Members aged 13 - 35 year$- 8,994135.3O/o)' 2022 - 7,197 (32.60/•) Members abov¢ 35 years - 10,756 {42.3%); 2022- 9,448 (430h) AelivitieA (Jf the Church Te8chinR Se55LOnS on Annual Therne Ext¢n5iv¢ l¢achinL)s on the theme of the year werc or8ani8cd in local churches in ihe UK. This helped to deepen mcmb¢rs' undorstandin¥ of the annual theme and th¢ main thrust of the Vision 2023 8g¢nda. Gojpel Sund4yJ G08pcI Sunday5 were held on the second Sunday of every month in all th¢ local ¢hurch¢s. Mcmbers were encourau?cd to invite friends ond nei8hbours to att¢nd th¢ 5¢rvic¢s physically or join S11 m¢dio outlets Ifo¢ebook and 7A)oml during services. Th¢ Goypel Sur2day Initi¥4tivc cncourY4gcd activc cvang¢lism by th¢ m¢mb¢rs 05 th¢y invited friends and family to church on Gosp¢l Sundays. Child naming and dcdication ccrcmoni¢s and po$¢-funeTal thanksgiving sessions w¢r¢ intentionally held on G05pcI Sundays to attTact morc p¢opl¢ to thc chur¢h lo ¢xp¢ri¢rt¢e love, receive hope and be Comforted by the me5ge of (hc 805pcI. Some local Chh¢S served tea and coffee after church Services to promote fellowship among vi31tors ond old rnember5. There were also breakfast meetings llt somr districts on Gospel Sundays. Follow-up visitation to old aDd back51iding members were undertaken on somr Gospel Sundays. Minlsterll lay leaderyhlp tr#lrtlng To rnakc thc rnnning ofthe charity ¢ffi¢icnt and to offer eff¢ctlV¢ service in our communitiey. sorne Ministers. lay leaders and members of the church benefited from Leadership training programmcs otfered on behalf of the church by Birn]ingham Christian College (BCC). A total of 273 pcople. including Ministers, lay leaders. members and ministevs wives wcre Sponsored to undertake and, in some cases, complcte various training5. The church funded 8 Minsters to upgrade their skills and knowlcd8e &t the MA Theology and MA Strategic Leadership and Managcmcnt programme at the BCC. Also, 8 Mini51er5 cnrolled on the BA Theology ProraMMe. Moreover, 100 lay leaders and Ministers, wives undenvent training in Christian coun5¢11ing whilyl another 7 cotnpleted the professional counsellirtg training at the CPCAB L¢vel 2 and 3. A8ain, another group of183 Icadcrs studied for the ccrtificate in Christian Ministry and Leadership.
THE CHURCH OF PEIYTECOST- UK REPORT OF THE TRUSTEES FOR THE YEAR ENDED JIST DECEMBER 2023 During the year under review, Elders, Deacons and Dc8coness enrolled on th¢ C¢rtificalc in Christian Ministy and Leadership and Counselling Programmes offered by Birniinghll Christian College. Several districts also run monthly l¢ader5hip schools to train and equip the IcerS for effeciive delivery. Holy Splrit Baptism Sesslons Districts and local churches held Holy Spirit baptlsm 5es$ions on a regular basis. National Holy Ghost Conventions were held for all churches under the them¢ "The Spirit gives life" (F.z¢kiel 37..1-14). The glob81 c¢l¢bration or Pentecosl Week was observed across Lh¢ nation with intensified prayer for the baptiszn in the Holy Spirit. Conferen£eJ, relreal$ seminars Retrcals w¢re held at variou5 levels to equip both the officers and members of the church. Retreats focused mosily on the theme for the year. Leadership schools and 9eminars w¢re also hcld lo troin th¢14y leadership of the church. S¢minars, retreats, and conferenccs were held at boih the Area and Districi levels to teach and pray on MatTiUbJe and family life to enrich thc lives of members. Som¢ Disiri¢ts inwrporated teachin8$ on marriabTe and family life into the disciple8hip and new converts cla$s¢$. Member5 were encourage41 tu obserye the first Sunday of every month (after churrh) as a fatnily day to enhance relationship5 With the families. D15¢1pl¢$hlp Prograrnme5 Blbk Study In accordance with the delivery strate&ries of Vision 2023, we¢kly bibl¢ sludi¢s are h¢ld in 815 the loul ¢hurch¢$ lo equip members as God's arniy in th¢ poss¢s5ing the n¥4tions 4¥da. The r¢50urc¢s u5¢d durin¥ bibl¢ s¢udi¢$ included the Church of Pentecosi Bible Study Guide 2023. In variou5 distri¢ts, L4ibl¢ study t¢acher5 me¢ r¢gularly in advance to prepare for lh¢ Sunday ¢las5. Thc slructured approach lo the Bible Study Scs5ions altrdckd a high Icvel of interest and molivaled m¢mbers to practice p¢r50nal devotions. Horne Cell Home Cells function a5 avenues for pHstiTrral care. follow-up und visitdtion. Flome Lells typically meel once monih and were organised to be community friendly. As at J l December 2023. 392 fully functional Home Cells were in operation in different part5 of the country. New CDnverlJlMernbers Ncw converts classes were hcld io disciple ond inl¢¥ral¢ n¢w ¢onv¢rLS inio the lo¢81 ¢hur¢h¢s. New ¢onv¢rts undenvent mandatory courses and mentorship on th¢ l¢nel% ofthe church, church practices and Lhc corc valucs of the Church of Pcnl¢¢osi. Th¢ rla55¢5 w¢rc run either through physical meetings on Sundays or viriually during the week. Operatlons of Mini$trieJ and or¥anisali0115 The Counyelling Miniitry Districts have counselling teams set up at District and l.o¢al leve15. Mosi lay coun5ellor$ have attended ¢oun$¢llin8 course5 at the Birmingham Christian Collcgo. The counselling l¢ams d¢alt with ¢ase$ su¢h #s marriagc and relalionships. child delinquency, social, firtancial, acad¢mic. moral, spiritU¥41, h¢alth, umvngs¢ oth¢rs. Th¢ Ministry also provided spiritual direction and talking theTapy. Pre-marital coun5clling classes were held for would-be coupIES. The counsclling loams a150 Sl8n-p05tcd members to relevant government agencies and support networks. Evangelism mi15(ry Evangcli5tn Coordinaling teams exist at every admitjistrative levEI of the church and they ensured that the evangelism activities at each level wer¢ well organi5ed. Oulrcachcs werc h¢ld in major cities and towns in the nation. 'lThere werc collaboratiOll5 between Ewang¢lism and other Ministries to spread the g95pel. Districts and locals Assemblies en8a¥ed in innovative m¢15 of ¢van¥elism during the period under review. Breakfast and lut]ch meetings were held with th¢ aim of reaching the unsaved as members invited their friends and family to such programmcs. In November 2023, the church relaunched, the One member, One Discipl¢d Soul Project during the church's national evangelism w¢ek. and members were encouraged to share their faith with their unbelieving colleagues and family m¢mb¢rs.
THE CHURCH OF PENTECOST- UK REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2023 ChHpl&incy Ministry The fUnctiOal chapl&incies ¢XiSiing at the disirict level are the Prison and Hospital Ministry and the Ministy to RcfllgT5 and Asylum S¢¢k¢rs. Th¢ R¢fug¢¢s wid Asylum Seekers chaplaincy was laun¢hed during the year under review. Children'5 Ministry 1.he Children's Ministry held thc national Quiz Comp¢tition in June whi¢h saw almost fifty children partiripalinB in the vorious age categories. The children engagcd in activitie5 that imbued Lhem with life skills and deep spiritual knowlcdge. The Ministry has several dedIced volunteer (each¢r5 whose ¢¢achin¥s are impacting on the 5piriLuo1 and physical well-being of ihc childwn in the church. Vouth Mlnistry Th¢ youth participatcd in all church a¢liviti¢s held during the period under. The Youth Ministry wos represented In all aspccts of our liturgy and wu¢ c5PCCi811y on th¥ forefront of our media ministry. music minisiry, sem)ons, technical etc. 'lThe Youth Ministry cxtended its operations. This increased the number of Pent¢cost Student Associations (PENSA) in the UK from 43 to 48. Th¢ sense of belongin8 ond uscfulness that ihese activities create in thc youth help them to improve thcir life and moral skills, Ic¢hnical skills and good citizenship. National Youth & PENSA Minisiry iniroduced a concept called TRANsfoRMF:RS TOUR which is a revival and evangelistic program hostcd #cross different towns and citie$ across the natiiTrn. 'I'h¢ 10 tours held g¢ross th¢ nation yielded many exceptional Te5uIts wilh attendances tiyiallin¥ OV¢T 1,200+ tran5forni¢r5 ¥4¢ro¥$ ¢h¢ nativn. Wornen'j Ministry The I,cad¢Tship of th¢ Ministry mobili5¢d m¢rrLbers tn participate in all National, Area. District, and Local events. Thc ministry was particularly hclpFul in mainlainirtg th¢ spiritual momentum of thc women in the church through various prayer-based iniliativcs. Thc Mini8try org8ni5¢d talk of thc followin&b (opic8', Wcll.Being and R¢posiiioned Woman- "General health check - how io avoid cm¢rgcncy admissions" "Kidney Carc" 'Physiotherapy and Phamiacy - Role in Kespiratory Inpatient Care" H¢Alth thlk5 on High blood pressure, Prostaie and Ccrvical Cancer. The events were well atlcnded and has shown growth in the ministy. Pentecost Men's Mlnljtry (PEMEM) The Men's Minisiry organised a rnnge of activities on the theme. A notable eyenr during 2023 w&8 the National PEMEM resid¢nthal R¢positioning Conference which took place from 15th lo 17ih June 2023. in Milton Keync5 urtd¢r th¢ Th¢m¢.. 'R¢positionirt8 ihe Men for Maximum impact in the Home, Chur¢h and the Society. (Colossian5 2.6-7 & l Thcssalonians 2'.18-19 & Genesis 18'.18.19, 26.'1.3a). A total of 725 rn¢n r¢gister¢d attend the ¢ortferert¢e. Th¢$e programmcs and actLVlties have contributed to thc holistic developmcnt f4nd Iran$forniation of the men in the church into godly leaders of their homey. Tht Christian Healthcare Professlonal Network (THE CHPNET) The physical wellbeing of thc mcmbcrs of ihe church is of paramounl importance to thc leadership and hence healih ialks were incorporaled into all major activities of thc church. Thc CIIPNET) held health talk5 on various topics across the nation. They olso held a leadership conference in Novcmber on women empowerment, in hEalthcare education and healthcare pmvision in the communities in the UK. Some health activitics and topics in the roview p¢riod were "Women's Well-Being End Repositioncd Woman- A Peacemaker, "General h¢alih check- how to avoid emergency admissions" "Kidney Care" "Physiotherapy and Pharni8cy - Role in Respiratory Inpaticnt Car¢" Other topics includcd Hcalth talk5 on Hi8h blood pressure, Pr05tatc and Cervical Cancer, while awar¢nes5 Wa5 also created for the member$ to go for regular chrck.ups. Monthly LTreal Presbytery Mttting5 To meet the requirement5 of Vision 2023. monthly local presbytery meetings were held by local church¢5. Th¢ mceting5 were used to revitw the implemcrttation of Vision 2023, assess thc local church's perfomiancc and address issue5 of cortcem to members. This has resulted in a remarkable increase in visitations and contacting of tnembers.
THE CHURCH OF PENTECOST- UK REPORT OF THE TRUSTEES FOR THE YEAR ENDED31ST DECEMBER 2023 OTHER ACTIVITIESIACHIEVF.MENTS Conv¢ntlon$ The 2023 National Easter conventions were held from Thursday 6th April 2023 to Sunday 9th April under the theme, "The old is gone, the new is here. {2 Corinthians 5'.15-17)- National Holy Ghost Prayer Conferences were held across in all districts of the church 19th to 21st May. Chrisimas Convention was held successfully across the nation in all Districts. Members experienced the power of the Holy Spirii through the ministrdtions from the various speakers. ACHIEVEMENT OF PROJECTIONS 1,117 Evang¢lislic Outrcaches were held in the Nation. 1,162 souls were won to the Ltsrd. representing an increase of 74.5O/D compar¢d to 2022. 729 converts were bopiiLed in w4t¢r, r¢pr¢s¢n¢ing an incrcasc of 58.80h compar¢d to 2022. 10 ncw assernblic5 Icon¥r¢gations) were startcd in 2023. 4 new districts were created in th¢ year under review. 578 members rK¢IV b4ptlsm in the Holy Spirit. 283 back51iders wcre supwrted and won back lo full fcllowship. 392 Home Cells operatcd during the reportin¥ year. 497 Bible Study groups opL'rated durin&T the reporting ycar An avcr4gc of12,979 people attended Sunday Elible stdIes on A w¢ekly basis 5,163 weekly Bible Study classcs were held. 1,123 weekly New Convcrt5' classes were held. 4839 Mid-week meeting5 for ICh1nl and prayers were held. 331 Talks were given on Marriage and Family l.if¢ in all th¢ di5trirl5. 1.717 cla5scs were held in tothl by all mini5trie5 to inforni, instru¢¢ and ¥uide members in various aspects of social. hcalth. economi¢ and 5PiTltual life. 8 mini5ter515 fulltim¥ and 3 Bi-vocational) wer¢ called into th¢ ministry. 2,800 ordained lay Icaders volunteered (o help rnn ihe church in the are of finance, administration and pasloral care. 225 stud¢nis parti¢ipdt¢d in PENSA activilics in 48 University cdmpu5 in the UK. 1700 participants attended the Nalional Women's residential Conference in October 2023. 725 participants aitcnd¢d the Penlecosi Men's Ministry IPEMEMI residential Conf¢r¢nc¢ in June 2023 on Rcpositionin¥ Men for Maximum impact in the Hvm¢, Church and the Society. A property valued at £4.6m wa5 acquired at 12.38 Hatcham Road, South London, to serve as & place of worship two congrcgation5. A properly Valu at £1.05m was acquired in Harlow for a plac¢ of worship. A lull renovation of JaTncs McKeown Temple at 1123 Cathcart Road, Glasgow. ¢ommen¢ed in November. A new roof installation to the James McKeown Sancluory al Sunrise Parkway, Milton Keynes wa5 ¢ompleted. 2 missionaries were sent out to Abu Dh4bi and Iceland. A walk-in Surgery Counselling Service which was opened to the public was held in Dagenham. Exploratory Chtsrch plantin¥ activities were carricd on in Isle of WiLJhL Isle of Man, Isle of Guernsey and Gibraltar. Volunieers and OffJ¢ets Appreciation Week wa5 held in all districts.
THE CHURCH OF PEI¥TECOST- UK REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2023 STRATEGIC REPORT Financial review Financial position The group results for the ycar under review reports a surplu$ of £1,033,994 (2022- £1,075.939). This includes operating sujylus of£i,038,378 (2022- £520,565) from ihe opeTatioM$ of ihe parent ¢harity. Incoming R¢sour¢es th¢ total income for ihe year under review was £9,510.668 12022 - £8.775,975). This repr¢senis an increase of £734,693 or 8.370h increase on the previous year. F.xp¢nditur¢- the tolal expenditure for the year is £8.476,674 (2022 - £7,700.036). This represents an increase of £776,638 or 10.09Y• on the previous y¢gr. The increase in expcndilure is Tnainly attribu¢4blc to the amounts incurred on th¢ bridging loan int¢re$l ¢harg¢s related to the wuisition orth¢ Trlakhman Rg4d propcrty. The irusi¢¢s ¢onsid¢r that th¢ charity'5 Posltion at the year-end is satisfactory. 11)e charity's cash ai bank rcmains a¢ a level Ihat 15 enough to pay its expenses as they fall due and pursue its objectives. Prln£lpal funding Jourcej Ih¢ Church raised the funds which it nccds to cary on its arliviti¢s from within its own mcmbership and ongr¢gation5. No wider public appcol w&s m&d¢ for funds during th¢ year. The Trust¢¢s ar¢ satisfied that thc charily's assets atiribuiable to ¢a¢h of lis individu41 fund5 ar¢ availabl¢ and ad¢quat¢ lo fvifil IL4 obli8alhons in relation to those nds. Reservei PDIICY The Trustees have establishcd a R¢sErvc$ Policy to ¢nabl¢ thc church to funclion cffccliv¢ly and m¢cl it5 obligation in the event of o declino in our incomc or a major cosl increase. Having ¢on5idcrcd thc rclevant risks of chan¥e5 in income and expcnditure, thc Tru8tec5 have detern)ined that the appropriate level of reserves 15 in thc range £600,000 t(> £800.000. We currenily hold more than this amount and the trustees will be reviewing the policy in the n¢ar fulure. The group's ioial fund5 ai 31 Dcccmber 2023 were £19,793,407 (2022 - £18,759,413. Prlnelpal rlsk5 and uncertalntks Risk Managernenl The trustees recognise thai the scope of our opcraiions 8eneraie considerable re$w)nsibiliiy and take seriously the need to ensurc that the reputation of th¢ ¢hur¢h is mainlairted. Ihe Church relies heavily on the efforts of volunteers Bt thc local level. Thi5 exp05e% ihe church to failure by volunteer5 to comply with laid established policics and internal contro15. 1.0 ameliorate it5 risk, a National Intemal Audit Committee checks the books and operating proC¢dU5 of th¢ districts at regular intcrvals. Safegugrdlng Safeguarding employee5, voluntccrs and the vulnerable members of the Church is an issue that we take seriously. The church has established a National Safeguarding committcc to monitor and report 15SUCS tknt could wtentially impair to protect our worshiper5, employc¢s and childrcn. 10
THE CHURCH OF PEJ¥TKCOST- UK REPORT OV THE TRUSTEES FOR THE YEAR ENDED JIST DECEMBER 2023 STRATEGIC REPORT Future plaDS PROJECTIONS FOR THE YEAR 2024
To deploy Business Central and Church Management System. To renovate old and purchase new properties. To call five new ministers in ministy. To observe a local welfare week in January. To hold National Evangelism Seminars in Febru and Evangelism month in August. To hold officers AFrf)Stolisation in Febnry. To hold McKeown Missions week observance in March. To hold an all minister.s and wives. prayer meeting in April. To hold Children's Ministry leachers safeguarding training in MAY. To hold Pcntecost week Holy Ghost Prayer conference in May. To hold the National Children's Ministry quiz in June. To observe Nulional chaplaincy month in July. To observe a National S&feguarding Awareness day in July. To hold national projects day offerin8 in July. R¢furbish 12-38 Halcham Road for use a5 a worship place. To hold th¢ National Children's Minislry week in Seplember. To hold Volunt¢¢rs and Officcrs Appreciation week in October. To increase tithes and offerings by at leasi l OQ/o.
IpTATF,MEf4I' OV TRIJ$TtESl RfSPONSIBiLITIts I hc IDJsieL'S Iwbo are Al) ¢h¢ dirciors of 'lht ChtsTth OT thtoEoit- UK Ibr thB Pufj. u of¢tsmpany Llw) afe p(>niiblt ftJrrA¥paTllig th¢ Reportof the ttuMtCX4nd tho fin•nc)Al swem¢ntg in tordancE wlih w)plicabl¢ l•w Ind Ilniled Kin8dDm Ac¢ouiitln8Sw)diTd8ll1ni Kin&¢knrt Gencrnjly A¢coptrd Attouniln&Thaake) inuludlLIII l.In&iieial R¢wrtln8 102 Fin¢•1 Win8 •pplic8ble in tho IIK thd Reptsblic of INlaThd' Company low TEqiltr•i lh4 irlleei tr ryeplrt flnnficlBI Itsm•n for a¢h tIMn¢lil yw whKh slv• i •Md edr ul th¢ sts¢e or affairs ibf IhL ¢h8rii8ble COThPBny Ind tsf th¢ incoming wouYc¢s &nd 9ppli¢wion of ur¢ci, IncINg th¢ *Kpertdliurfy of th¢ thorithbltr LX¥HlY p¢ritxl. plerInk tlwsg flmllnclAI Jtnthments, tnLJtth w¢ rtyubEdt loct 3ts1(thJ¢ I¢touftti p)Ilckn thdthen Bpply thorn ¢oMIM¢llily'. observe th•methodA In Èh? Chorlty SORP: ¥i>tske jiid8¢mcnis D)Id lM)E£l Ihui reasoniblo gnd prud•ni'
thte wh¢ih¢roswlic•bl¢ Unti¥d&dl h•vL hoon followe wbied •y mltsrial dyDJre• disclod
nd explwnd in Ilie finMciAI Ii#i•m¢niq', QPBtv tho fuian¢l419141em¢nts on 1¢ ¢oDcffli buij llni¢#i tt li Inyrn to pMthi¢ tho Lh•ri14blv wtll ¢4>nltnM¢ in bllJlnu$. 1'1it fotk¢EPtn8 PTcy¢r•¢&ounrfng mord• whl¢h d18clo¥• wlth mArJi•hle llWAirwatuTry limo th• lin¥ncwl po$itlon of flt ctrwllAbh compllny wid lo ¢nllbl¢ Ihcm 10 ¢n>uro Iliil fin#tt¢lrtl sthtsmoAIS Diiiply wlth the conipani ALI 2006 (.'Mrli1¢5 and 'f In¥C1n¢nI (S¢otlMIKII ?.OO% And riAuliion$ 6 nf lh¢ Ch¥ritkn A¢wunLI {S¢oilllndl Rty8ulatipns 21)06 (As Amcndod). xrL llLsD rc1hl4I for Yartg1Td1Mm of tho rhwlioble mpAnY hllTrr¢ for iho i)reveiiliOn wid do1[0 of ItRlld llnd irre¥ulariil In ¥0 far lh¢ I1¢¥ are •warL Lhcre li no rtl¢vaiii Audlt lf•IrIn oywhlch iho ohoriillblE ¢%)mpJng• ludltm ore IlnAIW•' and tho 1ry81#8 lioY¥ laktn oll lCPS Ihui uught w hllv¢ lllk¢n indk¥ thahMlvrJ awirt of Jny ¢cloYknt inform4tlrA5 andto Mtlbllih tht thg awJlM4¥¢ iwAreof that knfornalw)ft. IIDITORS 'I'h¢ audlinr8, l.eroy Rold & Cpi will be yopoxd trN-oFyolnmiuia¢th¢ forthcomStt8 AnDu&I Gefternl M¢cilni. Iltswrtofihe twust¢•s, IncoTporAIknKa Str4thgio r¢m •pkYtsd by Ndrof th¢ knoudof tNitee& ¥ th•£om dir¢¢ifn. un 19 ts¢yltmbBr 1024 and sl¥nod on th¢ trThrd'i boh41f ty,. Ke K.Frempow*kndu 12
REPORT F THE INDEPEND&NT AUDITORS TOTHE MEMBERS OF THE CHURCH OF PENTECOST- UK Opin5on We hav¢ audited the fin8ncial steMentS of The Church of Pente¢05t- UK (the parent charitable company) for th¢ y¢8r ended 3 1st December 2023 which ¢omprise the Consolidated Statement of financial activitie5, the Consolidatcd Statement of financial position, the Consolidat¢d Statcrnent of cash flow5 and not¢5 to the financial stat¢m¢nts, including gl summary of significant aecounting polici¢5. The financial reporting frarnework that has b¢¢n appli¢d in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generdlly Accepted Accounting Practicc), including Financial Reporting Standard 102 The Financial Reporting Standard applicable in th¢ UK and R¢public of Ireland.. In our opinion the financial s¢atcmcnts'. ive a truc and fair view of the state of the charitable company's affairs os at 31 st December 2023 and of ils in¢oming resourc¢5 and application of resources. including its income and exp¢nditur¢, for the yeAT then ended,. have b¢¢n properly prepared in accordanee with United Kingdom Generally Accepted Accounting Praclice, including financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic ol Ir¢land'" Y4nd havc been prepared in a¢¢ordan¢¢ with th¢ requirement5 of the Companie5 Act 2006, the Charities and 'fTUStee InYe8tTnent (Scotland) A¢1 21M)J and regulation 6 and 8 of the Charitie5 Accounts (Scotland) Rc8ulation5 2006 (a5 amended). In our opinion th¢ financial 5tatements'. give a true and fair vicw of the State of the charitable company's 8ff4irs w at 31 st D¢¢ember 2023 and of 1¢$ in¢omin8 resources and application of rcsour¢¢s, in¢luding it5 incom¢ and exp¢nditurc, foT ih¢ year ihen endcd,. have been properly prepared in aceordAn¢e with Unil¢d Kingdom G¢ncrally Accepted Accounting Praclice. including Financial Reporting Standard 102 'Th¢ Financial Rcparting Standard applicable in the UK and Republic of Ireland,: and have bcen prepared in acwrdance with the requirements of the Companies Act 2006. BAsiJ for opinlon We conducted our audit in accordance with International Stsndards on Auditln8 {UK) (ISAS (UK)} and applicable law. Our responsibili¢i¢$ undcr th08c slandards are fijrther described in the Auditors, reSnsibilItieS for the audit of the finAncial statem¢ntS Scction of our report. We Are independeni of the ¢h¥ritabl¢ ¢ompany in accordonco with the ethical requir¢mcnt5 Ihat are rclcvant to our audit of the financial siaiemcnts in the UK, including the FRC'S Ethical siandard. and we have fulfilled our oiher ethical responsibili¢i¢s in ac¢ordgn¢¢ with ihcse requirements. We believe that the audit evidence we havc obtaincd is SU7¢l¢nI And appropriate lo provide a basis for our opinion. Con¢lu$lonJ relating to Rolng eonetrn In 8uditing ihe financial statements, we hav¢ ¢on¢lud¢d that the trust¢e5' uye of the going concern basis of accounting in the prcparation of the finan¢ial Statements is appropriate. Based on the work we havc perfomed, we have not identified any material un¢ertE4inties relatin to events or conditions that, individually or collectively. MAY cast significant doubt on the charitable comparty's ability to ontinue as a going concern fora period of at leasttwelvc month5 from when the financial $talem¢nts arc 8Uthori3cd ror isSUQ. Our re5ponsibilitie5 and thc responsibilktie5 of thc truslccs with respect lo going concern are de5¢ribed in lh¢ rglcvant scctions of this report. 13
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF THE CHURCH OF PENTECOST- UK Other infomotion Ibe trustees are resportsible for the other inforniation. The other infomiation comprises ihc infomation included in the Annual report, other than the financial statements and our Report ofthc independ¢nl auditurs thereon. Our opinion on thc financial staiernents does not cover the other inforniation and, exc¢pt to the exieni othetwise explicitly Stated in our report. we do not express any forni of assurance conclusion theTeon. In connection with our audit of the financial siatements, our responsibility is to read the other infomiation and, in doing so, consider whether the other infonnatiori 15 Tnalerially inconsistent with the financial stat¢m¢nts or our knowledge obtained in the audit OT otherwise appcar5 to b¢ myt¢rially misstat¢d. If we identify such material inconsistencies or apparent material misstatements, we arc rcquir¢d to d¢t¢rn]ine whether this gives rise io a material misststemeni in the financial sthtements themselves. If, based on th¢ work we have perfoTm£d, we conclude thdt there ig A material misstatement of ihis other infomiation, we are rcquired w r¢port that fact. We have nothing to rcport in thi5 reuard. Opinions other rn•tton prexf rlbed by the Compgnle8 Aet 21K16 In our opinion, based on the work undertak¢n in th¢ cour5¢ of ih¢ audit: the infonnation given in the Report of the twstee5 for th¢ financial y¢ur for which the financial st&t¢m¥nls are prepared is consistent with the financial ststements. and the Report of the trustees has been prepared in accordance wilh app1]ble l¢gal requirements. Mal¢¢rJ on whleh w¢ or¢ requlred to report by exeepilon In the lighi of th¢ knowledge and undersianding ot Ihe charitable company and its environment obtained in the COUTSC of thc audit, w¢ hav¢ nol id¢ntifi¢d mat¢rial missialcments in the Report of the trusl¢¢$. We havc nothing to report in r¢gP¢¢t of th¢ followin matters whcre ihc Companies Act 2006 And the Charities Accounts (Scotland) Regulations { llm¢nded) rcquir¢s us lo report to you if. in our opinion.. adcquate accounling rccords hav¢ not bc¢n k¢pt or reiums adequate for our audit have not been r¢ccived from branchcs not visited by us,. or the financial statements are not in agreemenl with the llccounting record8 and reiums. or certain disclosures of trustees, remuncralion 5pccifi¢d by law are not made; or we have not received all the information and explanation5 w¢ rcquire for our audil. Responslbllitles of trustees As explained more fully in the Statement of trustees, responsibililies, the ITU5tee$ (who are also the dircctors of the ¢hariiable company lor thc purposes of company law) ore responsible for the preparaiion nf the financial sialements nd for bcing salisfjcd that th¢y give a true and foir view, And for such internal control ay the irustees detcm)ine is n¢cc58ary lo enablL thL prcparation of financiAI $iatemcnts that are free from material mis51atcmenl, whether duc tu fraud or error. In preparing the financial 5tatem¢nl$, the irusiee$ are regpon8ible for assessin8 the charitable company'5 ability to continue Hs a going concern, di5closin¥, as applicable, matters rclated to going concern and using the going concern basis ofaccounting unless thc (rustees either intend to liquidate the charitablc company or lo cease operations, or hove no realistir alternative but to do so. 14
REPORT OF THE INDF.PENDF.NT AUDITORS TO THE MEMBF,RS OF THE CHURCH OF PENTECOST- UK Our regpoTrsibilities for the audit ofthe financial $tst¢ments Our objectives are to obiain reasonable a55urnncc about whethcr thc financial stal¢Tnents a5 a whol¢ ar¢ fr¢¢ froTn material MISStament, whether due to fr4ud or¢rror. and t(y issu¢ a Report of the indcpcndcnl auditors that in¢lud¢s our opinion. Reasonable assurance i5 a high Icvel of assurance, but is not a guarantee that an audit conduct¢d in accordance with ISAS {UK) will always de¢1 a material Tllis5ta(¢ment when it exists. Mi5Stat¢rn¢nts arise from fraud or etTor and are considered material if, individually or in the agTreat¢, they c4)uld r¢asonably b¢ expected to influence the economi¢ decisions of users taken on the basis of these financial statements. IrreUlarltics, in¢luding frau¢L are instances of non.compliance with laws regulations. We design procedures in line wilh our re5pon5ibilitie5, Outlined above. lo detect material misstatements in respect of irregularitics, including fraud. The extent to which our procedures are capable of detectin irregularities, including fraud is d¢tail¢d b¢low'. As part of an audit in accordance with ISA$ (UK), we ¥xercise professional judgement and maintain profe5sionuI sceplicism throubhout the audit. We a150'. Identify and assess the risks ofmaterial misstatement of the financial statement& whether due to fraud or eTTOr, design and perform audit procedure5 responsivc to those risk5. and obtain audit evidence that 15 sufficienl and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error. as fraud may involve collusion. forbjery, intentional omissions, misrepresentations, or the override of internal control. Obtain an understanding of intcrn&l control relevant to the audit in order to dcsign audit pro¢edures thai ar¢ appropriate in the circumstances, but not for the purp05c of cxpre58ing an opinion on the cffectivene85 of the charilable company's intemal control. .valuate the appropriaten¢s5 of accounting pulicies used and the rea50nableness of accounting estimates and related dis¢losure5 tnad¢ by thc Iru5tee5. Conclud¢ on the appropriatoness of the trusiees, use of the goinbi concern basis of accountin&i and, bosed on the audit evid¢nc¢ ob¢aincd, whether a material unccrtainty exists r¢l&t¢d to events or ¢ondilions thai may cost significant doubt on the chaTilable company's ability 10 continuc as a uoing concem. If we conclude that a mai¢rial uncertainty cxi5ts, we are required to draw atLL'niion in our R¢pori ofih¢ independcni auditurs to the relaied di5¢105uies in the financial statements or. ifsu¢h dis¢losures are inadequate. lo modily our opinion. Our ¢onLlusions arc based on the audit eviden¢e obtained up lo the date of our R¢purt of the ind¢pendent auditor$. I lowever, future events or condiiions may the charitable cornpany'5 to c¥a5¢ to ¢onlinue as a going concern. F.valuate the overall presentation, siru¢iure and ¢vnt¢nt of the finan¢i&l stalem¢nls, including the di5¢10sures. and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. W¢ ¢ommunira¢c wlih ih05e char¥ed with governance re8ardin8, among other matters. the planned scope and timinb) ofihe audit and significant audit findings. including any 518nific8ni deficiencics in intcrnol control that wc identify during our audit. 15
REPORT OF THE JI¥DEPENDENT AUDITORS TO THE MEMBERS OF THE CHURCH OF PENTECOST- UK Use of our report This report is made solely to the charitable comp5 members, as a body. in accordance with Chapter 3 of Part 16 of the Companies Act 2006, andto the ¢haritable company's tNstees. as body. in accordance with section 44(1) ( c) of the Charities and Trusiee Investtn¢nt (S¢otland) Act 2005 and regulation 10 of the Charilie5 Accounts (Scotland) Regulations 2(K>6 {as aTncnded). Our audit Work has been undertaken 50 that we might state to the chariiable company's members those mattetB we are required to stsle to them in an auditors, report and for no other purpose. To thc lIest exlenl permitted by law, we do not accept or ossume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit wo, for this report or for th¢ opinions w¢ have formed. Mr Eben¢zer Okai, IBSC). FCCA (Senior Statutory Auditor) for Bnd on b¢h8lf of L¢roy Reid & Co Chart¢r¢d Certified Accountants and Statutory Auditors 299 Northborough Road Norbury London SW164TR Date.. 3o.0g- 16
THE CHURCH OF PEIYTECOST- UK ONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED31ST DECEMBER 2023 2023 Totsl funds 2022 Total fund5 Unrestrlctod Rostrieted fund fund Notes INCOME AND ENDOWMENTS FROM Donations and legacies 28 ,430,354 719,519 9,149,873 8.336,706 Charitable activliies Church 4a 85,893 85,893 59,334 BCC 251,308 251,308 375,813 Inv¢stm¢nl in¢orn¢ Total 791149 719519 9510668 775 975 EXPENDITURE ON Charltabl¢ a£livities Charitable activities Support cost Governance cost 7,906,440 277,207 225 077 67.950 7.974,390 277,207 6,966,067 661,789 Totsl 8 408 724 8 476 674 7 700 036 NET INCOME 382.425 651.569 1.033,994 1,075,939 RECONCILIATION OF FUNDS Totgl funds brought fonvord 15,435,523 3,323,890 18,759,413 17,683.474 TOT AL FUNDS CARRIED FORWARD 15 817 948 3 975 459 19793 407 18759413 17
THE CHURCH OF PENfECOST- UK PARENT CHARETV STATEMENT OF FINANCIAL A1VITIEs FOR THE YEAR EiYDED 31ST DECEMBER2023 2023 Tot41 nds 2022 Tot41 fund8 Unrei¢ri¢ted Restrlcted fllnds fund Notes INCOME AND ENt)OWMENTS FROM Donation5 and legacies 2¢ 8.427.673 669,519 9.097,192 8.183.540 Charitoble activltle Church 4b 85,893 85,893 59,334 Investment income Total 8 537 160 669519 9 206 679 8 246 996 EXPENDITURE ON Ch*rithbl¢ aclivliies Chuwh Support Cost Governance cost 7,482.334 469,968 215999 7.482,334 469,968 7,364,336 289,915 Total 8 168 301 8 168301 7726431 NET INCOME 368,859 669,519 1,038,378 520,565 RECONCILIATION OF FUNDS Total funds brovghl fonvord 14,428,220 2.309,261 16,737,481 16,216,916 TOTAL FUNDS CARRIED FORWARD 14797079 2 978 780 17775 859 16737481 18
TATE TDE 202 2013 Nolei FIXED ET$ TwTri +le *ty¢ts 25,152,369 11,767.036 CURREKf ASSEI¥ Debto Cuh at b•Thk 1,057.026 994394 3 3441305 4.637.239 4,442.S99 CREDITORS Amounts fAIIiD8du¢ withln onc y ij (5,510299) {614,50 NETCURRENT (LIADILITIEYASSETS TOTAL ASSETS LBSSCURRENT LLABILtTIES 24209,329 22.S25,127 CREDITORS Amolll failii¢du¢ thmorn thth on¢ Y IJ 14,415,922) {3.76S.714) NKT ASSLTS 19 793 407 18 759 413 FUNDS 17 15.117.948 3 975 459 15,435.523 3 32) 890 TOTAL FUNDS 19 793 407 18 759 413 The IlrwL¢lal stthm¢nts w¢r¢ approved ty the Bowd of Thsit¢u wthorlmd for Iwu¢ M 29 $8VfKMBIA 21Tr24 •nd were ilKDed its b¢half by.. iiev 14)rd El rrn.DoDk•r Ch•5rmAn ind Tr¥th¢ R¢¥ Ch•rte• T¢ddy AdupoDI 19 wSth CarnScann•rf
ci L POSITI 21n2 N•1 FIXED ASSETS Thn8ibYo asseii I l(b) 23,2J5,JlO 16.791556 CUftRKf ASSETS Deb¢ 120>1 968,714 894.866 J 553 262 109 it bmk 4.S21046 4,32&975 CREDFTORS Amounts tlllln8 due wlihln onlyr 13(b) (J.565J76) 1620JJ61 NETCURRENT ASSETS 30 TOTAL ASSETS LESS CURRKNT LIABILITIES 21191.710 30JDJ,19J CREDITOR5 Amtyjnts filling du¢ aft¢r rn0 than onlyev 14 {4.413.921) <J.705.714) I¥ET ASSETS 17775859 737 F17NDS UttT¢stricted thndi: Qen¢nl fijnd 17 14,797,079 14.428.220 Chprlt•bl¢ adiviikn 2978780 61 TOTAL FUNDS 17 77J 859 16 737 481 Th• f¢14] itsthm¢nts approved by tht Boud ofThth¥ •nd for on 29 SEPTEMBER 2024 dw(l[8nI on lu by; Rew Klorm-Donkor C1rAN And TNit¢e R¢Y Chirl¢i Teddy AdupoN8 Ttwts¢ 20 CamSranner-
THE CHURCH OF PENTECOST- UK CONSOLDA TED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31ST DECEMBER2023 2023 21122 Notfs Cash nows from operatlrtg *¢¢lvl¢l Cash generat¢d from op¢raiions Interest paid 2,597.564 (664.273) ,077.750 (167,199) Net cash provided by operating activities 1,933.291 510551 CAsh now8 fTOm investing aclivitley Purchase of tsngible fixed assets Sale of tangible fixed assets Interest received (7,204,670) (2.383.783) Nei c&sh used in investing activities 7 169.695) 23796611 Cash flowj from flnan¢lng oc¢lYltle¥ New loans in year Loan repayments in year Capitsl element of HP rcnthl 5,845,000 1457.795) 1,083,615 (452,734) Net cash {us¢d inyprovidcd by financing activities 5 368 332 ChAn8e In e•$h and ¢a$h equlval¢nt5 In Ihe reportlng perlod CA8h and ¢qulval¢nt$ at the beilnnlng of¢he r¢portln% perlod 131.928 (251,165) 3 448 305 3 699 470 Cayh ind cagh equlv•lents at the end of the reportln8 perlod 3 580 233 3 448 305
THE CHURCH OF PENTECOST- UK NOTES TO THE CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31ST DECEMBER 2023 RECONCILIATION OF NET INCOME TO NET CASH FIA)W FROM OPERATING ACTIVITIES 2023 2022 N¢t ineom¢ for the reportlng perlod (45 per the StstsJn¢nt of flngrtcial a¢livitl¢$) Adjll5tm¢nts for: Profit on disE¥)sal of fixed as9¢15 Deprecialion charges Interest received Interest paid Increase in debtors Incroasel(de¢r¢ase) in ¢dItOrS 1.033,994 1,075,939 (5,480) 847.724 (23,594) 664,273 (62.732) 143 379 835,868 (4,122) 167,199 (387,699) 9,435 Net cash provided by operAtioTrs 2 597,5fA 1677.750 ANALYSIS OF CHANGES IN NET (DEBT)IFUNDS At 1.1.23 Jyot ehange At 31.12.23 Net ¢a$h Cash At bank and in hand 3 448 305 131928 3 580 233 3 448 305 131928 3 580 233 Debt rinance le&se$ Debt$ fallin due within l year Debt5 falling due after l year 85,942 1435,128 3 676 836 {15,4151 (101,357) {4,752,000) (5.187,128) 651253 4 328 089 41976 5418668 9616 574 Total 749601 5 286 740 6036 341 22
THE CHURCH OF PENTECOST- UK PARENT CHARITY'S STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31ST DECEMBER 2023 2023 21122 Notes Cash flow$ from operaling aetlvities Cash g¢nerated from operations Iniere5t paid (Ib) 2,586.789 664 73 1,074.578 167 199 Net ¢a$h provided by operniing activities 1,922516 907 379 CHJh flows from invegting aetivltiel IrChaSe of tangible fixed assets Sale of tangible fixed ass¢ts Inieresi rec¢iv¢d (7,204,670) 11.381 23,594 (1.739.581) Net cash used in investing activilies 7 169695) 1735 4591 Ca$h flow$ from Ilnanclng actfvltleg New loans in year Loan r¢paymcnt5 in the ycar HP Capital repayments in the year 5.845,000 (457,795) 1,083.615 (478.592) Net cash (used in)Iprovid¢d by financing a¢tivities 5 368 332 592 087) Change e&8h and CA$h equlvalent8 In the reportlng perlod Cagh ond CA8h oqulvglents ot the beglnnlThg of th¢ r¢portlMK perlod 121.153) (235,993) 3432 109 3 668 102 Cash Cayh equlvalents At the end of the reportlng perlod 3 553 262 3 432 109 23
THE CHURCH OF PENTECOST NOTES TO PARENT ENTITY'S STATEMENT OF CASH FLOWS FOR THE YEAR ENDED31ST DECEMBER 2023 Ib RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES 2023 2022 Net income for the reportlng p¢rlod (A$ per th¢ Statemellt of rinancial activltles) Adjustments for: Depreciation charges Profit on disposal of fixed osset8 Interest r¢¢¢ived In¢¢r¢$l paid Increa8¢ in debtors (Decrea5eyincrease in creditors 1.038.378 520,365 794,302 (5,480) (23,594) 604,273 {73,918) 192.828 782.443 (4,122) 167,199 (376,127) N¢t uih provld¢d by operations 2 586 789 1074 57B 2b. ANALYSIS OF CHANGES IN NET{DEBTyFUNDS At 1.1.23 Net At 31.12.23 Nct calh Cash &t bank and in hand 3 432,109 121 153 3 553,262 3 432 109 121 153 3 553 262 Ikbt Hire purchase Debts falling due wi¢hin l year Debts falling due after l year {85.942) (15.415) (101,3571 (437.130) (4.750.000) (5.187.130) 3 690 883 637.205 4 3211088 4213 955 5 402 620 9616 575 Totsl (781,B46) (S,281,467) (6,063,313) 24
THE CHURCH OF PENTECOST-UK NOTES TOTHE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR EP4DED 31ST DECEMBF,R 2023 ACCOUNTING POLICIES BASIS OF PREPARING THE FINANCIAL STATEMENTS The financial statement5 of the chariiable compally, which is d public benefii ¢ntity under FRS 102, hav¢ been prepared in accordance with thc Charities SORP (Tr RS 102)'Accounting and Reporting by Charities.. Staternent of Recommended Practice applicable to charities prcparing theiraccounts in accordance with the Financial Reporting Standord applicable in the UK and Republic of Ireland {FRS 102) (Cff17vc l January 2019),, Financial Reporting Standard 102 'Th¢ FinaT)cial Rcporting Standard appli1¢ in ¢h¢ UK and Republic of Ireland, and the Compani¢% Act 2006. The financial statement5 have been prepared under the historical $1 ¢onvenlion. BASIS OF CONSOLIDATION The Group financial Staternents ofthe Charity {COP-UKI and it5 Subsidiary (Birniingham Christian College (BCC). Thi5 IS the first full year resulis for ihe 5ub5Ldiyry. Business combinations are accounted by using th¢ acquisition method. Where nc¢¢ssary, adjustments mad¢ to ¢h¢ financial stat¢m¢nts of 5ubsidiarios to bTing the accountin8 poli¢ies in alignm¢nt to those u5¢d by the Group. All intra-group ¢ran5artions, balances, incomc and ¢xp¢nses arc eliminaled on con501idation. INCOME All incom¢ is recognised in the Siatemenl of Financial Activitie$ once the charity ha5 entitlement to the funds, il is probable ihat thc income will be received and the amount Can bc measured reliably. EXPENDITURE Liabilities are recognised as expcndilure os 500n th¢r¢ is a Ic¥al or ¢on5tTUCtiv¢ obligation ¢ommitting the charity to that expenditurc, it is probablc (hat a Iransfer of ¢conomi¢ ben¢fits will b¢ r¢quir¢d in settlement and the amount of the obligalion ¢an b¢ mcasur¢d r¢liably. Exp¢nditur¢ is ac¢ounted for on an accruals basis and has been classified under h¢adings ¢hE4t aggr¢ga¢¢ all c95t Tclatcd to th¢ catcgory. Whcre costs cannot be directly attribui¢d to particular hcAding8 thcy havc becn allncatcd to activitics on a basi5 consistent with the usc olr¢$ource5. TANCIBLE FIXED ASSETS Dcpreciation is providcd at the following annual rate5 in order to write off each as5cI ovcr it5 e5timatcd Useful lif¢. Freehold propety 2•/0 on cost Long leasehold 2Yo on cost Plont and machinery - 25 /0 on c05t Fixtures and fittings 25fj/0 on cost Molor vehicles 25Vh on cost TAXATION The charity is ¢xcmpt from tax on income and gains within the section 5.5 of the Taxes Act 19¥8 or 8CCtion 252 of the Taxation of Chargcable Gains Act 1992 tt) thc extcnl that these art applied to it5 charitable a¢tivili¢s. FUND ACCOUIYTING Unrestricted funds con be used in accordancc with ihe charitable objective5 at the di5crction of thc tru5tew. Restricted funds cam only be used for particular Te5tricted purposes within the objects of th¢ charity. Restriclions 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 thc financial $tatem¢nts. PENSION COSTS AND (YFHER POST-RETIREMENT BENEFITS The charitable compony operates a defined contributiori pen5lOtI scheme. Contributions payable to the charitablc company's pension schcme are charged to the Statement of Financial Activitie5 ill the period to which thcy relate. 25
THE CHURCH OF PENTECOST- UK NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS- eontlnued FOR THE YEAR ENDED31ST DECEMBER 2023 ACCOUNTING POLICIES- conilnu PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS The charity op¢rnt¢5 a d¢fin¢d contribution plan for its ¢mploy¢¢5. A d¢fin¢d contribution plan is a pension plan under which th¢ charity pay5 fixed contributions into a scparate entity. On¢¢ th¢ wntributions have b¢en paid thc charity has no further payments obligations. The contributions arc r¢cognised as an expense when th¢y ar¢ due. Arnounts not paid Ylre shown in accruals in the balance she¢l. The assets of the plan are held scparately from the charity in an independently administered fund. GROUP DONATIONS 2D23 2022 Tithes and off¢ring5 Joint servi5 offering Gift &id receivable Blank50n Foundation donations Youth conference Joint Ministries offering Pension offering Building Fund offering Van Offering BCC Otr¢rirt8$ I)onation5 r¢ceived by BCC 7.494,647 52,150 782,088 18,566 6,771,605 31,185 400,000 16,529 263,132 35,329 16,293 627,089 98,786 625 620.962 21,397 7,969 22,377 15) 167 9,149 873 8 336 706 GROUP CLASSIFICATION OF DOIYATIONS 21123 Total funds 2022 Totsl rundg Unrutricted Reslrlcted fundj funds Tithes and offerings Joint services offering Gift aid receivable Blankson Foundatlon donations Youth confcrence Joint Ministrie5 offering BCC offerin85 Pension offering Building Fund offering Van offcring Donation5 Teceived by BCC 7,494,647 52,150 782,088 7,4g4,047 52,150 782,088 18,566 6.771,605 31,185 400,000 16,529 263,132 35,329 22,377 16,293 627,089 18,566 98,786 98,786 7,969 625 620.962 21.397 7,969 625 620,962 21,397 153 167 8.430,354 719519 9 149873 26
THE CHURCH OF PENTECOST- UK NOTES TO THE CONSOLIDATED FINANCIAL STA TEMENTS- tontlnued FOR THE YEAR ENDED 31ST DECEMBER 2023 2b. PARENT CHARITY DONA TIONS 2023 Total funds 2022 Total funds Unrestricted Restricted fund5 funds Tith¢s and olyerings Joint services offering Gift aid receivable Blankson Foundation donations Youth ¢onfer¢n¢e offerings Joint Mini5tri¢5 offering BCC offerings Pension off¢ring Building fund offering Van offering 7,494,649 52,150 782.088 7,494,649 52,150 782,088 18,566 6.771.6Q6 31.185 400.000 16,529 263,132 35.329 22.377 16.293 627,089 18,566 98,786 98,786 7,969 625 620,962 21,397 7,969 625 620,962 8 427,673 669519 9097 192 8 183 540 INVESTMENT INCOME 2023 Total rundj 2022 Total rundy Unrestricted Regtricled funds ndi Deposit account interest GROUP INCOME FROM CHARITABLE ACTIVITIES 2023 2022 Aetlvlty Church Church BCC BCC BCC Other income Rental income Other income R¢ntal income Academic income 33.370 52,523 9,588 48,647 3,680 192.038 181.194 226,496 24,812 337201 435 147 4b PARENT CHARITY INCOME FROM CHARITABLE ACTIVITIES 2023 2022 Other income Rent rec¢ived Audio visual income 31,290 52,523 9,588 48,647 099 85.893 27
THE CHURCH OF PENTECOST- UK NOTES TO THE FINANCIAL STATEMENTS- eontlhued FOR THE YEAR ENDED31ST DECEMBER 2023 GROUP CHARITABLE ACTIVITIES COSTS Direct Costs (se¢ Note 6) supIrt & governonee ojts (See ots Totsls ChRritable activities SllPPOrt cost Govcrnance ¢os¢ 7.974.390 7.974.3) 277,207 225 077 277.207 225.077 .7 974 390 8 476 674 GROUP DIRECT COSTS OF CHARITABLE ACTIVITIES 21ll3 2022 Staff costs Operating lease Tental Subscription & licence5 Church plant & evan8eli5rn Joint ministries expenses fjitis, welfare & donations Pr¢mis¢s expenses K¢nl . ¢hurches & manscs Motgr, trav¢I. sybsislen¢¢ and ¢0modation Volunt¢¢r ¢xpenscs Equipment maint¢non¢e Insurancc Bank char8eS Youth conf¢rcnc¢ cxpcnse5 Audio visual expenses Souvenir5 & calcndars expenyes Blankson foundation expcn5CS General charitable expenses Gainl{loss) on disposal CommunLCOtion cost Fre¢lall¢e wnsullants Validation & ac¢r¢ditation fee Catering, refreshments 5¢minors Librdry expenses Advertising and marketing Student bursaries, accommodation & graduation Bad debis D¢preciation Int¢rcst payable and 5iTnilar charges 1,909,558 4,671 6,377 274.079 1,770.439 4,398 278,112 45,066 109,664 075,445 1.423.705 506.185 24,462 89,349 88,042 32,346 964,849 9,419 22,494 17,000 5,021 193.897 891.069 1,685.920 593,264 45.116 114,854 94,337 30,578 2,015 18,855 25,549 (5,480) 28,132 21,284 37,672 313,806 10,536 (420) 41.064 12,347 58.119 154,764 (1.006) 59.224 42.257 835,868 167 199 20.987 847,724 28
THE CHURCH OF PENTECOST- UK NOTESTO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31ST DECEMBER 2023 SUPPORT COSTS Gov¢rrtanee ¢05ts Oiher Tot41$ Support co$t Gov¢rnan¢c c05t 277.207 277.207 225.077 225 077 277,207 225,077 502,284 Support ¢os¢s, included in the above, are a5 follows: 2023 Totl Ietlvltles 2022 Total ctlvltleJ OTHER Support Coverngllee Training expenses 'rravel and subsistence Ptintinbi Postagc & t¢l¢phone Telephon¢ and intern¢t Sofiwar¢ and w¢bJit¢ Audit fves Trustecy m¢eting cxpcnses Cornplianc¢ expenses Legol and professional fees 20,730 762 34,271 42,373 159,071 20,730 762 54,271 42,373 159,071 43,997 1,779 2,098 177203 49,160 3,181 65.047 35,652 33,744 37,222 2,386 1,098 43,997 1,779 2.098 177.201 277 207 225 077 502,284 264.144 PARENT CHARITY'S CHARITABLE ACTIVITIES COSTS Dlreel Costs (s¢t note 6) Support & 8overnAnee costs (w no¢¢ 7) Church Support Cost Governance 7,482.334 7,482.334 469,908 409,968 215999 68 29
THE CHURCH OF PENTECOST- UK N(YfES TO THE FINANCIAL STATEMENTS - eontlnued FOR THE YEAR ENDED 31ST DECEMBER 2023 Nofe I conithued ANALYSIS OF PARENT CHARITY'S DIRECT COSTS OF CHARITABLE ACTIVITIES 2023 2022 Staff costs Other operating l¢as¢s Church planting & ¢vang¢li5m Joint ministries expcn5es Gift5, welfare and charitable donations Prernise5 expenses Rent for churches & mans¢s MotOT, trdvel, accommodotion & $ubsisien¢¢ Volunteer expen$¢$ Equipmeni maint¢ngn¢¢ Birniingham Collcgc donalion Congregational insuTance ljank charges Youth ¢iTrnfcr¢nce Audio visual expenses Souvcnirs & calendars expenses Blank50n Foundation expense Catering. refreshments and $¢minar8 Gain on disposol Depreciation Interest payable and similar chargeg 1,711,41M 4,671 275,670 134,118 191,467 707,214 1,687.410 593,264 45,116 114,854 93,586 78,784 29,494 1.609,958 278,112 45,066 109,664 473,937 ,423,765 498,440 24,462 89,349 590.232 70.364 31,186 964,849 9,419 22,494 17.0(M) 151.375 2,065 11.419 18,855 306,966 (5,481) 794,302 782,443 7 482 334 7 364 336 8b. PARENT CHARITY'S SUPPORT AND GOVERNANCE COSTS Govern*n¢¢ ¢osls Other Support Cost Governan¢e 469,968 469,968 215999 469 968 685 967 Support costs, included in the above, gr¢ a$ follow5: OTHER 2023 Support Cost 2022 Tot41 acilvities lrnining expenses Travel and subsistence expenses Printing, postage & stationery expenses Telephone & intemet Exp¢ns¢s Software Ond w¢bsit¢ ¢xpen$¢s 210,709 762 58,283 42,373 157 841 162,797 3,181 54,541 35,052 469 968 289 915 30
THE CHURCH OF PENTECOST- UK NOTES TO THE FINANCIAL STATEMENTS- eontlnlled FOR THE YEAR ENDED 31ST DECEMBER 2023 GOVERNANCE COSIS 2(J23 2022 Totsl •¢tlvltley Gov¢rnwrtc¢ Audit fees TtU5tees meetin¥ expenses Compliance expenses Legal ond professional fees 36,434 ,779 2,098 175,688 33,122 2.386 1.098 215999 72.180 NET INCOMEI(EXPENDITURE) Net incomel{expenditure) is stated aftor ¢horgingl(¢r¢dilin8)'. 2023 2022 Depreciation- own¢d assets Depreciation- assets held under HP Operating le rental 819.504 28,220 4,671 816,220 19,648 10. STAFF COSTS 2023 2022 we8 and salaries Social se¢urity w5ts Other pension costs 1,648,729 30,314 230515 1,517,574 26,367 226 498 1909 558 1770 439 lThe average monthly number of employees during the year w&s Lg follows.. 2023 48 2022 40 Pa51or5 Finance Athninistrative Academic 14 17 62 No employee5 received emoluments in exress of £60.(M)O. TRUSTEES, REMUNERATIOIY AND BENEFITS Seven trustees by virtue of their position as Pastors of ihe Church received & salary as stated in their conditions of service #Pproved by the National Council for the year under review. 31
THE CHURCH OF PENTECOST- UK NOTES TO THE FINANCIAL STATEMEIYTS- Continued FOR THE YEAR ENDED 31ST DECEMBER 2023 TANGIBLE FIXED ASSETS Freehold property Long la5ehold COST At 1st January 2023 Additions Disposals 17.895,337 6,377.780 3,8gJ, 110 At 3 1st D¢¢¢mb¢r 2023 24.273.117 3,890,110 DEPRECIATION At I st January 2023 Charge for year Eliminated on disposal 3,131,703 431,991 589.032 82,356 Ai 3 1st December 2023 3 563 694 671388 NET BOOK VALUE At 315t Dcccmber 2023 20,709,423 3218 722 At 3 1st Decernber 2022 14 763,634 3,301,078 Flxture8 and fllllnE$ Plant And mA¢hlnery Motor v¢hi¢les Tota COST At I st January 2023 Additions Disposal$ 1,490.878 241.361 1,182.496 528,231 779,334 91,586 25,238,155 7,238,958 25 900) Ai 31 gt December 2023 1732 239 1710727 845 020 32451213 DEPRECIA TIO]Y At 1st January 2023 Charge for year Eliminated on disposal .315.825 141,378 852,954 73,678 581,605 6,471,119 847,724 19 999) At 31st December 2023 1457 203 926 632 679 927 7 298 844 NET BOOK VALUE At 315t December 2023 275 036 784 095 25 152 369 At 31st December 2022 175 053 329 542 197 729 18 767 036 32
THE CHURCH OF PENTKCOST- UK NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS- ¢ontlDued FOR THE YEAR ENDED 31ST DECEMBER 2023 11. PARENT CHARITY TANGIBLE FIXED ASSETS Freehold property Long leasehold Plant and ntaehlThery COST Ai Isl January 2023 Additions 17,895,337 6,440 803 1,873.217 .453,826 241,361 At 31st December 2023 24,336,140 1.873,217 1.695.187 DEPRECIATION At 1st January 2023 Charge for year 3,131,703 431,991 513.883 37,464 ,298,765 132,847 At 3 1st tkcember 2023 3,563,694 551.347 .431.612 NET BOOK VALUE At 315t Dec¢mb¢r 2023 20,772,446 1,321,870 263,575 At 315t December 2022 14763 634 1359,334 PARENT CHARITY TANGIBLE FIXED ASSETS- ¢ontlnued Flxtur ond flttlngg Motor vehlcks Totals COST Al Isl January 2023 Additions Disposals 1,173,751 465,206 779,315 91,586 23.175,466 7,238,956 At 3 1st December 2023 1638 957 845021 30,388,522 DEPRECIATION At 1st January 2023 Charg¢ for year Eliminated on dispo$al 852,954 73,678 581,605 118,321 19999) 6,378,910 794,301 19.999) At 3 1st December 2023 679 927 7 153 212 NET BOOK VALUF At 3 1st De¢ember 2023 712.325 165 094 23.235.310 Ai 3151 December 2022 320.797 197,730 16.796,556 Fix¢d 5¢t5, included in the above. which are held under hire purch&8e contracts are- £84,412 (2022- £75,146) 33
THE CHURCH OF PENTEcosf-UK NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED 31ST DECEMBER 2023 12a. GROUP DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 2022 Gift aid sthff loan D¢blor5 and prepaym¢nt8 800,000 28,200 228.826 716.947 21.036 256,311 1057 026 12b PARENT CHARITY DEBTORS: AMOUNTS FALLING DUE WITHIIY ONE YEAR 2023 2022 Gifi aid Staff loan DeOrS & prepayments 800,000 28,2(Kl 140.584 716,947 21,036 156 883 784 13. GROUP CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 2022 Bank loans and overdraft5 (see notc 15) HiTe purchase (see note 16a) Social security and other tAxes Other creditors Accruals and deferred income 5,187,128 13,524 32,261 270.028 437,130 29,170 125,891 5 580 299 684 508 14 PARENT CHARITY CREDITORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 21122 Bank loan5 and overdrafts (see note 15) Hire purchase (see note 16a) Social security and other Lgxes Other cr¢dilors Amount owed lo Subsidiary (BCC) AccTua15 5,187,130 13,523 32,261 257,155 34,400 437,130 25,272 80.707 34,613 5.565,576 15. GROUP AND SUBSIDIARY CREDITORS: AMOUNTS FALLING DUE AFfER MORE THAN ONE YEAR 2D23 2022 Bank loans Hire purchase 4J28.089 3.690,883 4,415,922 3.765 714 34
THE CHURCH OF PENTECOST-UK NOTES TO THE COI¥SOLIDATED FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31ST DECEMBER 2023 16. ANALYSIS OF LOANS An anatysis of the maturity of loans is given below: 2023 2022 Amount5 falling due within one year on demand.. B8nk loan5 5 187 128 437 130 Amounts f¥411ing due belween two and five ye8rs'. Bank loans- 2.5 years Included in Bank loan due within one year 1$ an omount £4.750.00 which relul¢s to u bridging loun contracted to purchas¢ th¢ 12-38 Haichum Road property. The loan w&5 repaid in July 2024. 16b. HIRE PURCHASE AGREEMENTS Payments under hire purchase fall due as follow5: 2023 2022 Nei obligE4tions repayable.. Wiihin one yeY4r Within Iwo to five yoars 13,524 17. ANALYSIS OF GROUP NET ASSETS BETWEEN FUNDS 2023 Tot&1 funds 2022 Total funds Unrestrleted Restrlcted furtd fund Fixed asset$ Current assets Current liabililic Long lemi liabiliti¢5 24,287,740 1,526,429 (5,580,299) 4415 922 864,629 25,152,369 3,110,830 4,637,259 {5,580,299) 4415922) 18,767,036 4,442,599 (684.508) 3765714) 15 817948 3 975 459 19 793 407 18 759413 35
THE CHURCH OF PENTECOST-UK NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS- ¢ontinued FOR THE YEAR ENDED 31ST DECEMBER 2023 MOVEMENT IN FUNDS- eontlntsed GROUP MOVEMENT IN FUNDS Net rnovement in funds At 31.12.23 At 1.1.23 Unrestricted funds General fund 15.435,323 382,425 15.817,948 Resttlcted fundi Restrict¢d Fund 3.323,890 651.569 3,975,459 TOTAL FUNDS 18,759,413 1,033,994 19 793,407 Net movement in fund$. in¢lud¢d in the alx>v¢ are ag follow$'. Incomin¥ Movement rewure¢i Resources expended ln fundj Unre$trl¢ted fundj General fund 8.791,149 (8,408,724) 382,425 Re5trlcted funds Re5lricted Fund 719,519 {67,950) 651,569 TOTAL FUNDS 9 510668 8 476 674) 1033 994 Compar*tlveJ for movement In funds Net movement At fundj 31.12.22 At 1.1.22 Unrejtrleted fundg General fund 15,448,170 260,651 15,708,821 REStrl¢ted funds R¢5tricted Fund 2,235,304 815,288 3,050,592 TOTAL FUNDS 17683474 1075 939 18759413 36
THE CHURCH OF PENTECOST- UK NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDEDJIST DECEMBER 2023 A Current y¢ar 12 months alld prior year 12 months combined position is as follows: Net rnovement In funds At 31.12.23 At 1.1.22 Unrestrifted funds General fund 15,174,872 643,076 15.817.948 Restrlcted fundi Restricied Fund 2.508,602 1.466,857 3,975,459 TOTAL FUNDS A current year 12 months and prior year 12 Tnonths combined net movement in funds, included in the above Are as follow5.. Intorning Movtment reyourc Resourcog expended In funds Unrestricted funds Goneral fund 16.734.836 (16,091,760) 643.076 Rejtrleted funds Restrict¢d Fund 1.551.807 {84,950) 1,466,857 TOTAL VUNDS 18286643 16 17671 18. CROUP MOVEMENT IN RESTRICTED RESERVES ftd At 1.122 In¢omlni Expenditure At31.12.23 BCC BCC offerin8 Relircment Motor van Building Blank50n Foundation 104,994 22,377 172,113 11,380 2,879,335 50,000 7,969 625 21,397 620,962 67.950 147,044 30,346 172,738 32,777 3,500,297 19. ANALYSIS OV PARENT CHARITY NET ASSETS BETWEEN FUND5 2023 Totsl fund$ 2022 Total fundy Urtr¢stri¢ted Re$tri¢ted ruAd$ fund Fixed &ssot5 Curr¢n¢ as5els Current liabilitie5 Lon¥ t¢rn] liabilities 23.235,310 2.190,093 (5,675.290) 4 953 034) 23,235,310 5.108,873 (5,675.290) 16,796,556 4,326,975 (620,336) 2,978,780 14797 079 2 978 780 17775 859 16737481 37
THE CHURCH OF PENTECOST- UK IYOTES TO THE FINANCIAL STATEMENTS- eontlnued FOR THE YEAR ENDED31ST DECEMBER 2023 PARENT CHARITY MOVEMENT IN FUNDS Net movcm¢nt In funds At 1.1.23 31.12.23 Unr¢5trlcted funds General fund Restrltted funds Charithble activities 14,428,220 368.859 14,797,079 2,309,261 669,519 2,978.780 TOTAL FUNDS I&38) LU.11859 Net movement in funds, in¢lud¢d in th¢ abov¢ ar¢ 0$ follow$'. ReJour¢ei ¢xpendwJ Movement In fynd> resourccs Unr¢8lrl¢ted fundi Gen¢rnl fund 8,537,160 (8.168,301) 368,859 Rutrlcted funds Charitsblc activities 669,519 669,319 TOTAL FUNDS 1,038,378 COMPARATIVES FOR MOVEMEJYT IN FUNDS Net movement In fund$ At 31.12.23 At 1.1.22 Unrejtrleted furtd$ General fund 14,372,943 (144,723) 14,428,220 Restri¢l¢d funds Ch¥4ritabl¢ activities 1,643,973 665,288 2,309.261 TOTAL FUNDS 16,216,916 520 565 16737481 Comparntive net movement in funds, includ¢d in the above aty as follows.. 38
THE CHURCH OF PENTECOST- UK NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31ST DECEMBF.R 2023 A ¢UTTent year 12 months and prioryear 12 monihs combined net movement in nds, included in the above are as follow5.. Ineorning rosour¢e8 Resources expended Movement In funds Unrestricted funds General fund 7.504.708 (7.709,431) (144,723) Res¢rl¢l¢d fundg Choritabl¢ activities 682,288 (17,(KJO) 665288 TOTAL FUNDS 520,565 A ¢urr¢ni year 12 months and prior year 12 months combined position is as follows: 20. RELATED PARTY DISCLOSURES The Parent Charity made donations lotalling £93,586 (2022 - £590,232) to Bimiin8ham Christian College (FJCC) during the year. Th¢ full amount was ¢limin•l¢d on consolid4lion. 2. The salary of the Rcc¢or of BCC 1$ plid by ih¢ Par¢nt Charity and was not r¢cognis¢d in th¢ sub¥idiory. 3. The Parent Charity ob14in¢d a loan from Th¢ Charily Bank io financc thc BCC capital projec¢. The gmount ouislonding at the ycar-cnd wa5 £4112,855 {2022- £488,845). Intere51 paid during tho year was £36,161 (2022 - £15.243). Monthly r¢payments are made by the Parent company. 'lThe Parent Charity paid £194,886 (2022 . £114,314) to BCC for trainin¥ of Mini5ter5 and Lay le¢r3. 5. A loan of £7,(K)O was made to an ernployee who is a trustee for the charity. The loan was repaid in full by the end of the reporting period. 6. During the year under rcvi¢w th¢ ¢hority mgde paym¢nls on th¢ pgyroll lo related parties of the trustees totalling £53,324 (2022- £32.100). The breokdown 1$ 8$ follows: 2023 2022 Mrs A Som Mr5 F. Afriyie Mrs C Appiah Mrs A Frempong Boadu Mrs Joyce Donkor 4,800 4,800 8,400 10,800 8,400 10,800 53 39
THE CHURCH OF PENTECOST- UK NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31ST DECEMBER 2023 21. COMMITMENT UNDER OPERATING LEASE The Group had annual commitments for equipment under non.cancellable [e&. Operating lease payments are as follows.. 2023 2022 Within one year lrt on¢ lo two years 48,672 Nil 22. POST BALANCE SHEET EVENT The trustces of lh¢ chariiy completed the sale of land at 97 Peckham Road, London SE15 5LJ for £3,800,(M)O on Junc 2024. Inrludcd in bank loans due within one year is on amount of £4.750.000 which relates to a brid¥ing loan contractcd to Purcha 12- 38 Hatchman Road propety. The loon was repaid in July 2024. 40
THE CHURCH OF PENTECOST- UK DETAILED STATEMENf OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2023 2023 TotAI funds 2022 Totsl runds Unre8tri¢ted funds Re8trictrd funds INCOME AND ENDOWMENTS DonatlDll8 le4Aeies Tithes and offerings Joint services offering Gift aid e1Vable Blank50n Foundation donations Youth conference Joint Ministri¢s offering BCC offerings Pension offering Building Fund offering Van offering Donations received by BCC 7,494,647 52.150 782,088 7,494.647 52,150 782,088 18,566 6.771,605 31,185 400,000 l6.529 263.132 35,329 22,377 16,293 627,089 18,566 98,786 98,786 7,969 625 620,962 21,397 7,969 625 620,962 21,397 50.0(K) 153 167 8.430,354 719.519 9,149.873 8.336,706 Investment In¢ome Deposit ac¢ouni interest 23,594 23.594 4.122 Charltable AeliYltle8 Other income Renlhl in¢ome Academic InMe 33,370 279,019 33.370 279,019 13,268 240,685 337 201 337 201 435 147 Totsl Incoming resour¢es 8,791,149 719.519 9,510,668 ,775.975 EXPENDITURE ChArltable activltles W&ge$ Social security Pensions Operating le8se rental Subscription & licen¢¢s Church plant & evangelism Joint ministries expenses Gifts. welfare & donations Premis¢s ¢xpenses Rent - churches & manses Motor, travel. subsistence and accommodation Volunteer expenses Equipment mainten8n¢e Catried lorward 1,599.634 30,314 230,515 4,671 6,577 274.079 134,118 193,897 891,069 1,685,920 593,264 45,116 114,854 5.804,028 49.095 1.648,729 30,314 230.515 4.071 6,577 274,079 134,118 193,897 891,069 1,685,920 593,264 45,116 114,854 5,853.123 1,517,374 26,367 226,498 4,398 278,112 45,066 109.664 675,445 1,423,765 506,185 24,462 89,349 4,926,885 49.095
NOTES TO THE FINANCEAL STATEMENTS- eontinned FOR THE YEAR ENDED 31ST DECEMBER 2023 2023 Total funds 2022 Total funds Urtre5tricted Restricted fund8 Charltable actlvltiey Brought forward Insurance Bank charges Youth ¢onference expenses Audio visual expense5 Souvenirs & calendars ex5 Blankson Foundation expenses General charitable expenses GÉitV(loss) on disposal Communication Cosi Fr¢¢lan¢e Consultants Validation & creditatiOn fee Caterin& refreshments and seminars Library expensey Advertising and marketing Student bursaries, COMmodation & graduation Bad debis Freehold property Lon8 leasehold Plant and machinery Fixtures and fittings Motor vehi¢les Intere51 payable 5.804,028 94,337 30,578 49,095 5,853.123 94,337 30,578 4.926,885 88,042 32.346 964,849 9,419 22,494 17,000 5,021 2,015 11,419 2,015 11.419 l8,855 25,549 (5,480) 28.132 21,284 37,672 313,806 10,536 {420) 18,855 25,549 (5,480) 28,132 21,284 37,672 313,806 10,336 {420) 41,064 12.347 58,119 154,764 (I,o(ks) 59.224 42,257 307,791 82,359 146,459 186,464 112,795 20,987 431,991 82,356 141,378 73,678 118,321 664 273 20,987 431,991 82.356 141,378 73.678 118.321 664 273 7,906,440 67.950 7,974,390 7,435,892 Support eogts Other Training expenses TTav¢l and subsisten¢¢ Printing> Postage & ¢¢lephone Telephone and internei softwa and w¢bsit¢ 20,730 762 54,271 42.373 159071 20.730 762 54.271 42.373 159071 49,160 3,181 65,047 35,652 277,207 277.207 186,784 Gov¢rnanie e08ts Audit fees Trustees meeting expenses Compliance expenses Legal and professiortal fees 43,997 1,779 2,098 177 203 43,997 ,779 2,098 177 203 37,222 2,386 1,098 225 077 225 077 Total resources expended 8 408 724 8 476 674 7 700 036 Net income 382 425 651569 1033 994 1075 939