INTERCESSORS MINISTRIES OF GREAT BRITAIN
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 8[TH] MAY 2022
CHARITY NUMBER: 1124574
INTERCESSORS MINISTRIES OF GREAT BRITAIN 30 HONLEY ROAD LONDON SE6 2HZ
INDEX Page Index 1 Trustee’s Report 2-3 Independent Examiner’s Report 4 Receipts and Payments Account 5 Statement of Assets and Liabilities 6 Notes on the financial Statements 7
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INTERCESSORS MINISTRIES OF GREAT BRITAIN
TRUSTEES’ REPORT YEAR ENDED 8[TH] MAY 2022
The trustees are pleased to present their report for the year ended 8[TH] May 2022 for the charity, Intercessors Ministries of Great Britain with Charity Number 1124574.
The Trustees of the charity are: Bishop Francis Boampong Rev Jane Holden Rev Raymond Addison
The principal address of the charity is: 30 Honley road London SE6 2HZ
STRUCTURE, GOVERNANCE AND MANAGEMENT
The Charity governing document is a trust deed that was adopted on 7[th] May 2008 .The Charity is governed by a board on which the trustees are represented. It meets regularly to review, plan activities and monitor the financial position.
OBJECTIVES AND ACTIVITIES
The Objects of the organisation are to advance the Christian Faith [in accordance with the Statement of Beliefs] throughout the world as the trustees may see fit from time to time. The trustees confirm that they have had due regard to the guidance issued by the Charity Commission on public benefit before deciding what activities the charity should undertake.
ACHIEVMENTS AND PERFORMANCE
The Organisation held successful meetings through the year in which individuals were equipped and educated on the principles and doctrines of the Christian faith. The organisation provided daily prayers and intercessions for people in the church. This year the organisation held regular all night prayer meetings in another hired church hall in addition to their regular worship services in the Methodist Church hall. The organisation also held all services for several months online due to the lockdown.
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FINANCIAL REVIEW
The income of the charity is above £31,000. This is a higher amount from last year the costs have been managed over this period. The charity has reduced some of its expenses and as a result it expects to build up a surplus in the coming financial year.
FUTURE DEVELOPMENTS
The church intends to continue to host its regular services in Reading. It also plans to run a bible school that will train up its leaders in the community. The intended reappointment of our present independent examiner at the upcoming trustee meeting is expected to support the financial operations by making it more effective.
RESERVE POLICY
It is the policy of the Charity to maintain unrestricted funds, which are the reserves of the charity at about 3 months of unrestricted expenditure.This provides sufficient funds to cover any emergency expenditures that may arise from time to time. The charity will seek to maintain this level throughout the year.
RISK MANAGEMENT
The charity have assessed all the major risks to which the charity is exposed to, in particular those related to operations and finances of the charity, and are satisfied that systems are in place to mitigate exposure to major risks.
TRUSTEE RESPONSIBILITIES
Under the Charities Act 2011, the trustees are required to prepare a statement of accounts for each accounting year which gives a true and fair view of the state of the church. They are required to:
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Select suitable accounting policies and apply them consistently.
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Make judgements and estimates that are reasonable and prudent.
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State whether the applicable accounting standards have been followed.
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Prepare financial statements on an ongoing basis.
They are responsible for keeping proper records which disclose with reasonable accuracy the finances of the church at any time and to ensure that such accounts comply with the Charities Act 2011.They also have a responsibility to safeguard the assets of the church and to take reasonable steps to detect fraud or other irregularities.
Approved by the Trustees on 28[TH] April 2023 and signed on their behalf by:
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Independent Examiner’s Report To the Trustees INTERCESSORS MINISTRIES OF GREAT BRITAIN
I report on the accounts of the church for the year ended 8[th] May 2022 set out on the following pages which have been prepared on the basis of the accounting policies shown in the corresponding pages.
Respective responsibilities of trustees and examiner
The trustees of the church are responsible for the preparation of accounts: they consider that the audit requirement under section 144(2) of the Charities Act 2011 (the 2011 Act),does not apply. It is my responsibility to :
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Examine the accounts under section 145 of the 2011 Act.
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Follow the procedures laid down in the General Directions given by the Charity Commissioners made under section 145(5)(b) of the 2011 Act.
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State whether particular matters have come to my attention.
Basis of Independent examiner’s report
My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the church and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts.
Independent examiner’s statement
In the course of my examination, no matter has come to my attention;
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(1) which gives me reasonable cause to believe that, in any material aspect, the trustees have not met the requirements to ensure that:
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proper accounting records are kept( in accordance with section 130 of the 2011 Act
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accounts are prepared which agree with the accounting records and comply with the accounting requirements of the 2011 Act: or
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(2) to which , in my opinion , attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Chuks Ajuka BSc(Man), FICB PMDip FRESH FIRE ORGANISATION Unit 5 Generator Business Centre Mitcham Surrey CR4 3FH
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| INTERCESSORS MINISTRIES OF GREAT BRITAIN | ||||||||
| ACCOUNTS FOR THE YEAR ENDED 8th May | 2022 | |||||||
| **1. Receipts & Payments Account(General Purpose ** | Fund) | |||||||
| £ | £ | |||||||
| Income Receipts | 2022 | 2021 | ||||||
| Tithes and Offerings | 31863 | 23584 | ||||||
| Interest | 0 | 0 | ||||||
| Total Receipts | 31863 | 23584 | ||||||
| ___ | ___ | |||||||
| Direct Charitable Expenditure | ||||||||
| ChurchSupplies | 17 | 333 | ||||||
| Church hall rent | 3850 | 1200 | ||||||
| Professional fees | 536 | 0 | ||||||
| Transport | 330 | 0 | ||||||
| Admincosts | 0 | 750 | ||||||
| Church houserent | 13000 | 10000 | ||||||
| Repairs | 0 | 0 | ||||||
| Office expenses | 0 | 300 | ||||||
| Software | 0 | 152 | ||||||
| Advertising &Printing | 0 | 0 | ||||||
| Subscription | 742 | 379 | ||||||
| Benevolent gifts | 350 | 100 | ||||||
| Accounting services | 480 | 350 | ||||||
| Refreshments | 0 | 0 | ||||||
| Telephone | 40 | 0 | ||||||
| Hotelcosts | 0 | 0 | ||||||
| Media Supplies | 200 | 158 | ||||||
| Sundry | 0 | 0 | ||||||
| Music Services | 0 | 0 | ||||||
| Bankcharges | 167 | 84 | ||||||
| Insurance | 237 | 237 | ||||||
| Welfare | 1610 | 600 | ||||||
| Speakers expenses | 207 | 100 | ||||||
| Total | 21766 | 14743 | ||||||
| Other Expenses | ||||||||
| Instruments | 0 | 0 | ||||||
| Equipment | 0 | 1299 | ||||||
| Hire of van | 0 | 0 | ||||||
| Total Payments | 21766 | 16042 | ||||||
| Net Receipts/(Payments for the year) | 10097 | 7542 | ||||||
| Cash Funds brought forward | 15101 | 7559 | ||||||
| ____ | ___ | |||||||
| Cash funds at the end of the year | 25198 | 15101 | ||||||
| ____ | ___ | |||||||
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INTERCESSORS MINISTRIES OF GREAT BRITAIN
| 2 .Statement of Assets and Liabilities at 8th May 2022 Cash Funds Loan LloydsTSB Bank Lloyds Savings Total Cash Funds Assets Retained for the Charity's Own use Church Van Musical Instruments Equipment Liabilities Accounting Fee |
2022 2021 Unresticte Unrestricted Funds £ Funds £ 0 0 19533 10048 5665 5053 _ _ 25198 15101 _ _ 539 674 1555 1944 2781 3476 350 350 |
2022 2021 Unresticte Unrestricted Funds £ Funds £ 0 0 19533 10048 5665 5053 _ _ 25198 15101 _ _ 539 674 1555 1944 2781 3476 350 350 |
|---|---|---|
| ___ 15101 |
||
| ___ 674 1944 3476 350 |
Approved by the Trustees and signed on their behalf:
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INTERCESSORS MINISTRIES OF GREAT BRITAIN
ACCOUNTING POLICIES
Basis of Accounting
These accounts have been prepared on the receipts and payments basis under section 42(3) of the Charities Act 1993.
Funds
Unrestricted funds are those which can be used at the Trustees' discretion. Restricted Funds are those whose purposes have been restricted by the donor.
Salary
The church had no employee who received remuneration of less than £5000 for services rendered to the charity. No tax payments were due on this amount. No trustee received any benefits during the financial year.
Depreciation
Depreciation is acalculated at 20% reducing balance method
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