2021-03-31-accounts - Maranatha Evangelistic Ministries International

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Report and Financial Statements For the Year Ended 31 March 2021

3/31/2021

MARANATHA EVNGELISTICS MINISTRIES INTERNATIONAL Registered Charity No: 1126240

March 31, 2021

Maranatha Evangelistics Ministries International Trustees Annual Report & Financial Statements

CONTENTS	Page
Legal and administrative information	3
Report of the Trustees	4
Report from Reporting Accountant	14
Statement of financial activities	16
Balance sheet	17
Notes to the financial statements	18

March 31, 2021

Maranatha Evangelistics Ministries International Trustees Annual Report & Financial Statements

LEGAL AND ADMINISTRATIVE INFORMATION

Pastor:	Rev. Frank Adunyame
Trustees:	Rita Gyima-Asante
	Desmond Adu Gyamfi
	Kwasi Adomako Mensah
	Georgina Osei Agyekum
	Alice Darko Mantey
Registered Office:	101 Rush Green
	Romford
	RM7 0PU
Charity Number:	1126240
Accountants:	Jacob Manu & Co
	1 Mark Street
	Stratford
	London
	E15 4GY
Bankers:	Natwest Bank
	Romford Town Centre
	10 South Street
	RM7 0PU

March 31, 2021

Maranatha Evangelistics Ministries International Trustees Annual Report & Financial Statements

REPORT OF THE TRUSTEES

The Trustees present the Annual Report and financial statements of Maranatha Evangelistic Ministries International for the year ended 31 March 2021. The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities" (revised 2005) in preparing the Annual Report and Financial Statements of the charity/company. The Report and Financial Statements also comply with the Companies Act 2006.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Legal status and Governing document

The objects and powers of the Charity were established in the Constitution of the church and the church is governed by it. The trustees are responsible for arranging and organising Annual General Meetings - AGM.

Appointment

The Trustees who held office during the financial year and at the date of this report are set out on page 3. The Trustees are elected by the church in accordance with the rules set out in the Constitution. The method of appointment of the Church Council is also set out in the Church Constitution. The Church Council, have, as regular members the pastor, secretary, treasurer, chairman of trustees/deacons, Sunday school director, discipleship director, outreach director and chairperson of each church standing committee.

Induction and Training

Trustees, as part of their induction and training, go through series of training where they are briefed on their legal obligations and the Charity Commission’s guidance on public benefit. The objects and aims of the church are explained. Trustees and volunteers are also encouraged to attend appropriate external training events where these will facilitate the undertaking of their role. The Board of Trustees/Executives manages the affairs of the church. The Board and the Church Council work cooperatively with the Reverend Minister

March 31, 2021

Maranatha Evangelistics Ministries International Trustees Annual Report & Financial Statements

and are responsible for making decisions on all matters of general concern and importance to the church.

Organisation

The Board of Trustees and Council members are responsible for the overall strategy and direction of the Church. The Board of Trustees and Council members have the responsibility of cooperating with the Reverend Minister in promoting the whole mission of the Church – pastoral, evangelistic, social and ecumenical. The Trustees give their time on a voluntary and unpaid basis. The Church Council has wide responsibilities. It has a number of committees; each dealing with a particular aspect of church life. These committees which include music/worship, events, outreach, welfare, and finance are accountable to and report back to the Board of Trustees and Church Council on regular basis.

Risk Management

The trustees have assessed the major risks to which the charity is exposed, in particular those related to operations and finances of the charity and are satisfied that systems are in place to mitigate exposure to the major risks. The trustees have a risk management strategy which comprises:

regular financial review to ensure the continuity of charitable activities;
ensuring all equipment are in good condition and safe for use;
Competence based training for volunteers and trustees;
liability insurance;
Monitoring of new legislative requirements;
Policies and procedures for children and vulnerable adults protection;
Health and safety risks

Interest of Board of Trustees

No member of the Trustees had, at any time during the period under consideration, any interests in the charity which require disclosure in this report.

March 31, 2021

Maranatha Evangelistics Ministries International Trustees Annual Report & Financial Statements

AIMS AND PURPOSE/OBJECTIVES

Maranatha Evangelistic Ministries International was set up to, among others; advance the Christian faith by sharing and demonstrating the Love of God to every person in every way possible and to cover the earth with the Full Gospel of Jesus Christ. The principal activities of the church include:

1. To proclaim the Gospel of the Kingdom of God through activities such as regular Sunday meetings and weekly activities; conferences, ministerial training and seminars.

2. To share and demonstrate God’s love by ministering to the needs of people (both members and others).

3. Worship services which are opened to the general public – during these services we encourage personal growth by developing and empowering people through preaching and teaching of the Gospel of Jesus Christ; by motivating people through seminars and conferences.

4. To develop strong society by encouraging and building strong family relationship through seminars/conferences and family friendly activities.

5. To evangelize in order to tell people about the love of Christ by the use of the media, tracts and other educative materials.

6. To Build lives by encouraging people to have hope in life through the full Gospel of Jesus Christ by provision of Bibles and other helpful resource materials such as books, CDs and DVDs.

7. To undertake general charitable activities – such as providing aid for the needy.

March 31, 2021

Maranatha Evangelistics Ministries International Trustees Annual Report & Financial Statements

OBJECTIVES, AIMS AND PRINCIPAL ACTIVITIES

The Maranatha Evangelistic Ministries International is committed to enabling as many people as possible to worship at our church and to become part of our community. The trustees and the church council maintain an overview of worship throughout the parish and constantly seek ideas on how our services can involve the diverse population and groups that live within our parish and the community. Our services and worship put faith into practice through prayer and scripture, music and sacrament.

When planning our activities for the year, the Board of Trustees has considered the Charity Commission’s guidance on public benefit and, in particular, the specific guidance on charities for the advancement of religion. In particular, we try to enable ordinary people to live out their faith as part of our church community through:

Worship and Prayer, learning about the Gospel; and developing their knowledge and trust in Jesus.
Provision of pastoral care for people living in the parish.
Missionary and outreach work.
Education and training

A summary of the result of the church activities during the period is given in the Statement of Financial Activities on page 16 Total income of the charity amounted to £ 29,102. The income was spent judiciously to meet the objectives of the Church.

Volunteers

Without the selflessness, hardwork and dedication of our volunteers we couldn’t have achieved our aims and objectives. The volunteers contribute greatly to the running of the church and enbles it to fulfil its objectives. We would therefore like to thank all the volunteers who work so hard to make our church the lively and vibrant community it is. The valuable contribution of time, energy and expertise of the Church members has helped the church community to achieve so much and this is well appreciated.

Financial Review

The book values of the assets held at the year-end are, in the opinion of the Board of Trustees, as stated in the financial statements. Also, in its opinion, adequate assets are available to fulfil the obligations of the charity. Our principal source of funds comes from the

March 31, 2021

Maranatha Evangelistics Ministries International Trustees Annual Report & Financial Statements

generous donations of committed members through Tithes and Offerings. Overall, we had a good financial year. Total receipts on unrestricted funds were £29,102 of which £27,162 was spent to promote the Christian ministry and charitable activities.

Reserves Policy

The Trustees have identified the need for reserves to be held as developing a reserves policy will assist in strategic planning such as in considering how new projects or future activities will be funded. To ensure sustainability and continuity of funding future activities, the trustees plan to have unrestricted funds to cover at least 3 months of unrestricted payments. This policy will be reviewed regularly to meet the charitable needs of the Church.

Investment Policy

The Trustees have the power to invest in such assets as they see fit. The charity's investment policy is appropriate to the nature of the funds for which the investment is held. The primary investment aim is to provide a high degree of security and liquidity and to maximise returns whilst adopting a conservative approach.

Grant Making Policy

As part of our charitable objectives of providing aid to the needy, grants are made in the form of cash gifts to needy people and to members who find themselves in some form of financial difficulty.

March 31, 2021

Maranatha Evangelistics Ministries International Trustees Annual Report & Financial Statements

ACHIEVEMENT AND PERFORMANCE

Worship and Prayer

Maranatha Evangelistic Ministries International continues to offer a range of services during the week and over the course of the year. The church and the community find these services beneficial and spiritually fulfilling. For instance, Sunday services continue to provide an environment of worship that is refreshing, reflective and at the same time vibrant and lively through the praise and worship; vibrant and reflective music; and preaching and teaching of the word of God. Evening prayer services are held weekly on Mondays and this provide opportunities for people to communicate with God on a more personal basis.

Education, Missions and Evangelism

Maranatha Evangelistic Ministries International continues to educate and help those in need. When a person stops learning that person stops growing and that is why we take much interest in the total development of people. We have various friendly life-educational programs for the community to help inspire people for better life living.

Church Property

The church is actively searching for its own building to enable the church to freely organize more spiritual and social activities that the community can come and take advantage. The building committee is set up and they are commissioned to liaise with the commercial estate agents in search of our own building.

March 31, 2021

Maranatha Evangelistics Ministries International Trustees Annual Report & Financial Statements

STATEMENT OF TRUSTEES’ RESPONSIBILITIES

The Charity Commission requires the directors, the Trustees, to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity at the year end, of its incoming resources and resources expended during that year. In preparing those financial statements, the Trustees are required to:

➢ Prepare trustees annual reports and submitting annual returns forms and accounts
➢ Comply with the rules of the charity as set out in the governing document
➢ Ensure the charity is run carefully, by making sure it :
➢ Uses its charitable funds and assets wisely to further it charitable aims
➢ Does not do anything to put its property, funds, assets or reputation at risk
➢ Takes appropriate care and advice when investing or borrowing money.

INDEPENDENT EXAMINER

Jacob Manu & Co has expressed their willingness to continue in service and a resolution on this would be put to the Board of Trustees at the forth-coming Annual General Meeting.

March 31, 2021

Maranatha Evangelistics Ministries International Trustees Annual Report & Financial Statements

STATEMENT OF DISCLOSURES

a) So far as the Trustees are aware, there is no relevant information of which the Church’s Independent Examiners are unaware, and

b) They have taken all the steps that they ought to have taken as Trustees to make themselves aware of any relevant information and to establish that the Church's Independent Examiners are aware of that information.

By order of the Board of Trustees

............................................... Desmond Adu Gyamfi Trustee

Date: 31/03/2022

March 31, 2021

Maranatha Evangelistics Ministries International Trustees Annual Report & Financial Statements

INDEPENDENT EXAMINERS’ REPORT FOR THE YEAR ENDED 31 MARCH 2021

We have examined the financial statements on pages 16 to 19 for the year ended 31 March 2021 which comprises the statement of financial activities. The financial statement has been prepared under the historical cost convention and the accounting policies set out therein.

The report is made solely to the Charity's Trustees, as a body, in accordance with Section 44 of the Charities Act 1993. The Trustees of the charity are of a general opinion that an audit is not required in accordance with Section 43(2) of the 1993 Act, and have opted for an independent examination instead.

Respective responsibilities of trustees and independent examiners

The Trustees, have responsibilities for preparing the Trustees' Report and the Financial Statements in accordance with applicable law and United Kingdom Accounting Standards. These are set out in the Statement of Trustees' Responsibilities in the Report of the Trustees.

Our responsibilities as independent examiners of the charity are:

to examine the books and accounts of the charity in compliance with Section 43 of the 1993 Act;
to strictly adhere to the general directions provided by the Charity Commission under Section 43(7)(b) of the Charities Act 1993; and
to state whether particular matters have come to our attention in the course of our examination.

We report to you whether the financial statements have properly been prepared in accordance with United Kingdom Generally Accepted Accounting Practice, the Companies Act 2006 and in accordance with the Charities Act 1993.

We also report to you whether the information given in the Trustees' Report is consistent with the financial statements. We consider the implications of our report if we become aware of any apparent misstatements or material inconsistencies with the financial statements.

In addition we report to you if the charity has not kept proper accounting records, if we have not received all the information and explanations we require for our work, or if

March 31, 2021

Maranatha Evangelistics Ministries International Trustees Annual Report & Financial Statements

information specified by law regarding trustees' remuneration and other transactions with the charity is not disclosed.

Basis of opinion

Our examination was carried out in accordance with the General Directions provided by the Charity Commission. The examination includes a review of the books and documents and other accounting records kept by the charity and comparing these with the accounts presented.

Our examination also includes consideration of any unusual disclosures or items in the accounts, and seeking explanations from the Trustees. It is imperative to state here that the procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair view'. Our report is therefore limited to the statements below:

Independent examiners' statement

In connection with our examination, we report that no matter has come to our attention, which gives cause to believe that the following have not been met:

Keeping proper accounting records in accordance with Section 386 and 387 of the Companies Act 2006.
Preparing accounts which accord with the underlying accounting records and which are in compliance with the Companies Act 2006, the United Kingdom Generally Accepted Accounting Practice (UK GAAP), the Statements of Recommended Practice (SORP) - Accounting and Reporting by Charities and the Charities Act 1993.
Consistency of the information contained in the Trustees Report with the financial statements.

..................................................... Date: ...31........... Day of........March.......2022

Jacob Manu & Co

Chartered Certified Accountants

1 Mark Street, Stratford, London, E15 4G

Maranatha Evangelistics Ministries International Trustees Annual Report & Financial March 31, Statements 2021

STATEMENT OF FINANCIAL ACTIVITY FOR THE PERIOD ENDED 31 March 2021

UNRESTRICTED INCOME 29,102 0	2021 TOTAL 29,102 0	2020 TOTAL 51,295 24,705
29,102	29,102	76,000
27,162	27,162	38,222
27,162	27,162	38,222
1,940 1,940 1,940 1,940 308,820 308,820		37,778 37,778 271,042
310,760 310,760		308,820

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Maranatha Evangelistics Ministries International Trustees Annual Report & Financial Statements

Balance sheet as at 31 March 2021

Tangible Fixed Assets Current Assets Bank/Cash Creditors Amount falling due with one year Net Current Assets Total Assets Funds Unrestricted Funds		*2021* £ 0 310,760	*2020* £ 0 308,820
		310,760 0	308,820 0
		310,760	308,820
		310,760	308,820
		310,760	310,760
		310,760	310,760

Signature: Date:31/03/2022 Desmond Adu Gyamfi Trustee

March 31, 2021

Maranatha Evangelistics Ministries International Trustees Annual Report & Financial Statements

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 March 2021 Registered Charity Number 1126240

1 ACCOUNTING POLICIES

The principal accounting policies which have been adopted are set out below: -

2 BASIS OF ACCOUNTING

The financial statements have been prepared under the historical cost convention and in accordance with applicable accounting standards and the Statement of Recommended Practice, “Accounting and Reporting by Charities” (SORP 2005) issued in January 2005.

3 INCOMING RESOURCES

Voluntary income include grants that provide core funding or are of general nature are recognized in full in the Statement of Financial Activities in the year in which they are receivable, except when the donors specify that the grant given must be used in future accounting period, the income is deferred until those periods.

Incoming resources from charitable activities include income received under contract or where entitlement to grant funding is subject to specific conditions to deliver and is recognized whereas the service is provided.

Other income is accounted for on a cash basis.

4 RESOURCES EXPENDED

Expenditure is recognized when the liability is incurred.

Cost of generating funds are those incurred in attracting voluntary income
Charitable activities include expenditure associated with delivery of services and include both direct costs and support costs relating to each particular service
Governance costs include the costs of charity, including strategic planning for its future development, independent examination, any legal advice and all costs of complying with the constitutional and statutory requirements, such as costs of Trustees and the preparation of statutory accounts.

Maranatha Evangelistics Ministries International Trustees Annual Report & Financial March 31, Statements 2021

Support costs include overhead and other costs not directly attributable to a particular function and apportioned over the relevant activity on the basis of management estimates consistence with use of the resources e.g., staff cost by time spent, property costs by floor space and other costs by their usage.

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 March 2021 Registered Charity Number 1126240

5 TAXATION

The organization is a charitable institution with exemption from UK taxation under section 505 of the Income and Corporation Taxes Act 1988.

6 TANGIBLE NON-CURRENT ASSETS

The organization’s non-current assets include musical instruments, and they are depreciated on straight line basis.

7 FUND ACCOUNTING

Unrestricted funds are grants, donation and other incoming resources receivable or generated for the objects of the charity without further specified purpose and are available as general funds.

Restricted funds are funds that can only be used for specific purposes as laid down by the donor. Expenditure, which meets this criterion, is charged to the fund, together with a fair allocation of management and support costs.

Designated funds are funds set aside by trustees out of unrestricted general funds for specific future purpose or relate to grants given specifically for the purchase of assets where the use is not restricted. The aim and use of each of the designated fund is set out in the notes to the financial statements.

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Maranatha Evangelistics Ministries International Trustees Annual Report & Financial Statements

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 March 2021 Registered Charity Number 1126240

MARANATHA EVANGELISTIC MINISTRIES INTERNATIONAL

INCOME: Donations Other income Total Income EXPENDITURE: Rent/Rates/Hall Hire Travel expenses Telephone Ministerial/mission Postage/Stationary CODVID Support Office expenses Sundries Professional fees Total Expenditure SURPLUS	2021 2020 £ £ 29,102 51,295 0 24,705
	29,102 76,000
	9,300 18,320 500 950 1,252 1,166 10,400 11,620 0 400 4,450 0 527 60 1,639 1,200 3,600
	27,162 38,222
	1,940 37,778