2020-11-30-accounts - Presbyterian Church Of Ghana, Calvary Congregation, London

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PRESBYTERIAN CHURCH OF GHANA, CALVARY CONGREGATION, LONDON

(Company Limited by Guarantee) (Registration number 5639578) (Charity registration: 1129937)

REPORT AND ACCOUNTS

30 NOVEMBER 2020

PRESBYTERIAN CHURCH OF GHANA, CALVARY CONGREGATION, LONDON REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 30 NOVEMBER 2020

Status	The church is constituted as a company limited by guarantee	The church is constituted as a company limited by guarantee
Governing document	The company was established under a memorandum of
	association with objects and powers	that are governed under
	its articles of association.
Company House registration	5639578
Charity Commission registration	1129937
Registered office	118-120 London Road,
	Mitcham, Surrey CR4 3LB
Principal place of business	290 Balham High Road, London SW17 7AL
Directors	Kofi Ofosu-Amaning
	Kwame Appiah-Peprah
	Verisa Takyiwaa Akoto	Appointed- 23/10/2019
Trustees	Agnes Evelyn Oppong
	Kofi Ofosu-Amaning
Congregational Session	Kofi Ofosu-Amaning
	Mercy Agyemang-Korboa
	Christiana Acquah
	Fremah Boakye-Oppong
	Bismarck Asante-Asomaning
	Kingsley Boateng
	Kwame Appiah-Peprah
	Stephen Asiedu-Darquah
Bankers	Santander
	P O Box 10102
	21 Prescott Street
	London E1 8TN
Accountants	Kojo & Co Limited
	Chartered Certified Accountants
	Registered Auditors
	118-120 London Road
	Mitcham
	Surrey CR4 3LB

PRESBYTERIAN CHURCH OF GHANA, CALVARY CONGREGATION, LONDON DIRECTORS' AND TRUSTEES' REPORT

The directors present their report together with the accounts for the year ended 30 November 2020.

PRINCIPAL ACTIVITY AND RESULTS FOR THE YEAR

The charity is constituted as a company limited by guarantee and is therefore governed by a memorandum and articles of association.

The principal activities of the church during the period were the teaching and preaching of God's Word and the sharing of the sacraments. It also provided benevolent donation to the members of the church and the community who were deemed in need by the Congregational Session.

The results for the year are given in the attached accounts.

The company does not have a share capital. The liability of its members is limited by by guarantee. Any surplus is retained to further its activities.

DIRECTORS AND TRUSTEES

The directors who served during the year and at the date of this report are:

Kofi Ofosu-Amaning Kwame Appiah-Peprah Verissa Takyiwaa Akoto Appointed - 23/10/2019 Owusu Danso Appointed - 01/07/2019 Ruth Yasmine Wobil Appointed 01/07/2019

The trustees who served during the year and at the date of this report are:

Agnes Evelyn Oppong Kofi Ofosu-Amaning Owusu Danso Ruth Yasmine Wobil Kwame Appiah-Pepra Verissa Takyiwaa Akoto Alice Brenyah

All the directors and trustees are members of the company and guarantee to contribute a sum not exceeding £1.00 to the assets of the company in the event of it being wound up. At 30 November 2020, there were 8 members.

PRESBYTERIAN CHURCH OF GHANA, CALVARY CONGREGATION, LONDON DIRECTORS' AND TRUSTEES' REPORT (CONTD.)

FINANCIAL AND OPERATION REVIEW

Review of Activities and Achievements

During the year the church organised several events in furtherance of the mission of the church. In February 2020, it had the Junior and Youth celebration with a variety show that ended with a play about Jesus. In March 2020, it had an open forum where members expressed their ideas about the way forward. In July 2020 we had a week of Prayers and Fasting to seek the face of God in reviving the church. The church outing to Bournemouth was a great success in ensuring the social integration of the members of the church. In August 2020, the church was blessed with the hosting of the inauguration of the District Young Adult Fellowship and in September 2020 it celebrated its 10th anniversary. The year ended with a very successful harvest festival in November 2020.

Financially, the performance for this year is unchanged compared to that of last year.

Future Developments

In the coming year, in addition to the various activities to further the mission of the church, it intends to increase its fund raising efforts towards the purchasing of place of worship of its own.

Reserves

The church aims to achieve a balance of reserves equalling six months of operating cost general guidelines for UK charities. The cash resources held at the moment are enough to cover the next 6 months expenditure in line with current charity guidelines.

Risk Analysis

The Trustees and Directors of the church make every effort to ensure that the potential for financial and operational risk is reduced to the barest minimum by maintaining strict oversight through monthly financial management reports, putting financial guidelines in place for staff, conducting regular financial health checks and introducing a new financial management information system for effective tracking of income and expenditures.

METHOD OF APPOINTMENT OF DIRECTORS AND TRUSTEES

Board members are generally nominated and then elected at Arm's based on their background, experience and relevance to the church's objectives. When a vacancy arises on the board and a skill is identified, nominees may then be nominated to the board. Induction of new board members and training of existing members are conducted at quarterly intervals each year.

By the order of the board

Kwame Appiah-Peprah Director

Dated.

Independent examiner's report to the trustees of Presbyterian Church of Ghana, Calvary Congregation, London for the year ended 30 November 2020

I report on the accounts of the company for the year ended 30 November 2020 which are set out on pages 4 to 14.

Respective responsibilities of trustees and examiner

The trustees and the directors (for the purposes of company law) are responsible for the preparation of the accounts. The trustees and directors consider that an audit is not required for the year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.

Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:

examine the accounts under section 145 of the 2011 Act
to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act and
to 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 Commission. An examination includes a review of the accounting records kept by the charity 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 no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below.

Independent examiner's statement

In connection with my examination, no matter has come to my attention:

(1) which gives me reasonable cause to believe that in any material respect the requirements:
to keep accounting records in accordance with section 386 of the Companies Act 2006; and
to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Standard of Recommended Practice: Accounting and Reporting by Charities have not been met; or
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Kojo Amoah-Arko FCCA Kojo & Co. Limited Association of Chartered Certified Accountan Dated. 118-120 London Road Mitcham Surrey CR4 3LB

PRESBYTERIAN CHURCH OF GHANA, CALVARY CONGREGATION, LONDON STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 NOVEMBER 2020

				2020	2019
		Restricted	Unrestricted	Total	Total
	Note	£	£	£	£
INCOMING RESOURCES
Voluntary income	3	61,850	21,425	83,275	59,036
Investment income	4	-	284	284	265
		___	___	___	___
		61,850	21,709	83,559	59,301
		___	___	___	___
RESOURCES EXPENDED	5
Charitable expenditure		2,207	27,355	29,562	61,007
Governance		-	923	923	910
		___	___	___	___
		2,207	28,278	30,485	61,917
		___	___	___	___
NET INCOME FOR THE YEAR		59,643	(6,570)	53,073	(2,616)
Balance brought forward		15,297	86,528	101,825	104,443
		___	___	_____	___
BALANCE CARRIED FORWARD		74,940	79,958	154,898	101,827
		___	___	_____	___

PRESBYTERIAN CHURCH OF GHANA, CALVARY CONGREGATION, LONDON BALANCE SHEET AS AT 30 NOVEMBER 2020

			2020		2019
	Note	£	£	£	£
TANGIBLE FIXED ASSETS	6		1,529		2,040
CURRENT ASSETS
Stocks	7	833		833
Debtors	8	100		1,120
Bank and cash balances		154,686		98,682
		___		___
		155,619		100,635
CREDITORS: Amounts falling
due within one year	9	2,250		850
		___		___
			153,369		99,785
			___		___
			154,898		101,825
			___		___
INCOME FUNDS
Restricted	10		74,940		15,297
Unrestricted	10		79,958		86,528
			___		___
			154,898		101,825
			___		___

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006 and that the member has not required the company to obtain an audit in accordance with section 476 of the Act.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.

Verissa Takyiwaa Akoto Director

Approved by the board on

PRESBYTERIAN CHURCH OF GHANA, CALVARY CONGREGATION, LONDON NOTES TO THE ACCOUNTS - 30 NOVEMBER 2020

1. ACCOUNTING POLICY

1a. Basis of Accounting

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)- (Charities SORP (FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). Presbyterian Church of Ghana, Calvary Congregation, London meets the definition of a public benefit entity under FRS102. Assets are initially recorded at historically cost unless otherwise stated in the relevant accounting policy note.

1b. Fund Accounting

General funds represent the funds for the circuit that are not subject to any restrictions regarding their use and are available for application on the general purposes of the circuit.

The purpose of any restricted funds is noted in the accounts.

The accounts include transactions, assets and liabilities for which the Charity can be held responsible.

1c. Incoming resources

Grants and donations are accounted for on an accrual basis.

1d. Resources expended

Resources expended are accounted for on an accrual basis. They are analysed between cost of generating funds, charitable activities and governance costs, based on the nature of the expense.

1e. Depreciaion

Depreciation of tangible fixed assets is provided on the straight line basis over the expected useful lives of the assets as follows:

Usher's Uniform	25% on cost
Choir Robes	25% on cost
Band & Others	33 1/3% on cost
Motor Vehicle	25% on cost

Fixed assets financed by grants are written off to Statement of Financial Activities in line with the accounting policy of the related grant.

PRESBYTERIAN CHURCH OF GHANA, CALVARY CONGREGATION, LONDON NOTES TO THE ACCOUNTS - 30 NOVEMBER 2020

1. ACCOUNTING POLICITES (Contd)

1f. Financial Instruments

The charity elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 Other Financial instruments Issues' of FRS 102 to all its financial instruments. Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

With the exception of prepayments and deferred income all other debtor and creditor balances are considered to be basic financial instruments under FRS 102. See notes 6 and 8 for the debtor and creditor notes.

1g. Judgements and key sources of estimation and uncertainty

In the application of the charity's accounting policies, the Trustes are required to make judgements, estimates and assumptions aout the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates and assumptions aout the carrying amount of assets and liabilities that are not readily

The esitmates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the esitmate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The most significant estimates and assumptions which affect the carrying amount of assets and liabilities relate to

Useful economic lives.

The annual depreciation charge for tangible fixed assets is sensitive to change in the estimated useful economic lives and residual value of assets. These are reassessed annualy and amended where necessary to reflect current circumstances. Depreciation rates are described in (note 1e) to the financial statements.

1h. Cash and cash equivalents

Cash abd cash equivalets include cash in hand, deposits held at call with banks, other short-term liquid investments with oruiginal maturities of three months or less and bank overdrafts are shown within borrowings in current liabilities

1l. Stocks

Stocks are valued at the lower of cost and net realisable value and includes donated doods for re-sale.

PRESBYTERIAN CHURCH OF GHANA, CALVARY CONGREGATION, LONDON NOTES TO THE ACCOUNTS - 30 NOVEMBER 2020

INCOMING RESOURCES
			2020	2019
	Restricted	Unrestricted	Total	Total
2. VOLUNTARY INCOME	£	£	£	£
General offering	-	1,518	1,518	11,255
Harvest	-	13,752	13,752	24,412
Tithes	-	4,940	4,940	13,038
Thanksgiving	-	780	780	1,820
Women's Fellowship	-	-	-	780
Sundries	-	435	435	375
YAF	30	-	30	536
Church Choir	50	-	50	930
Men's Fellowship	50		50	400
Singing Band	50	-	50	370
Welfare	-	-	-	5,070
BSPG	-	-	-	50
Building Fund	61,670	-	61,670	-
	____	____	____	____
Total	61,850	21,425	83,275	59,036
	____	____	____	____
3. INVESTMENT INCOME
Interest on deposits	-	284	284	265
	____	____	____	____

PRESBYTERIAN CHURCH OF GHANA, CALVARY CONGREGATION, LONDON NOTES TO THE ACCOUNTS - 30 NOVEMBER 2020

			2020	2019
	Restricted	Unrestricted	Total	Total
	Funds	Funds
RESOURCES EXPENDED	£	£	£	£
*4. CHARITABLE ACTIVITIES*
Telephone	-	133	133	196
Harvest expenses	-	-	-	1,437
District assessments	-	7,775	7,775	10,400
Preaching fees	-	650	650	5,450
Rent	-	6,885	6,885	8,312
Travelling & motor expenses	-	1,066	1,066	4,023
Band expenses	-	1,810	1,810	7,260
Printing & stationery	-	131	131	303
Donations	-	3,672	3,672	2,999
Depreciation	-	511	511	511
Church expenses	-	3,190	3,190	10,330
Refreshments/X'mas party	-	1,493	1,493	3,761
Sundries	-	40	40	140
YAF	380	-	380	1,485
Singing Band	-		-	400
BSPG	-		-	100
Welfare	1,627	-	1,627	2,580
Women's Fellowship	200	-	200	100
Choir	-	-	-	965
Men's Fellowship	-	-	-	255
	____	_______		___
	2,207	27,355	29,562	61,007
	____	_______		___

*5. GOVERNANCE*
Professional fees - Ind. Examination	-	850	850	850
Bank charges	-	73	73	60
	____	________		___
	-	923	923	910
	____	________		___

PRESBYTERIAN CHURCH OF GHANA, CALVARY CONGREGATION, LONDON NOTES TO THE ACCOUNTS - 30 NOVEMBER 2020

6. TANGIBLE FIXED ASSETS

	Motor	Usher's	Choir	Band &	Total
	Vehicle	Uniform	Robes	Others
	£	£	£	£	£
COST
As at 1 December 2019	9,250	100	1,000	9,396	19,746
Additions	-	-	-	-	-
	___	___	___	___	___
As at 30 November 2020	9,250	100	1,000	9,396	19,746
	___	___	___	___	___
DEPRECIATION
Balance brought forward	9,250	100	1,000	7,356	17,706
Charge for the year	-	-	-	511	511
	___	___	___	___	___
Balance carried forward	9,250	100	1,000	7,867	18,217
	___	___	___	___	___
NET BOOK VALUE
As at 30 November 2020	-	-	-	1,529	1,529
	___	___	___	___	___
As at 30 November 2019	-	-	-	2,040	2,040
	___	___	___	___	___
				2020	2019
7. STOCKS				£	£
Anniversary cloth				833	833
				____	____
8. DEBTORS
Other debtors				100	1,120
				____	____
9. CREDITORS: Amounts	falling due within	one year
Accruals				2,250	850
				____	____

PRESBYTERIAN CHURCH OF GHANA, CALVARY CONGREGATION, LONDON NOTES TO THE ACCOUNTS - 30 NOVEMBER 2020

10. FUNDS

	Balance	Receipts	Payments	Transfers	Balance
	01-Dec-19				30-Nov-20
	£	£	£	£	£
Restricted Funds
Women's Fellowship	4,267	-	200	-	4,067
Men's Fellowship	2,528	50	-	-	2,578
Singing Band	780	50	-	-	830
Choir	1,082	50	-	-	1,132
YAF	(430)	30	380		(780)
Welfare	7,120	-	1,627		5,493
BSPG	(50)	-	-	-	(50)
Building Fund		61,670			61,670
	________		____	____	____
	15,297	61,850	2,207	-	74,940
Unrestricted Funds	86,528	21,709	28,278	-	79,959
	________		____	____	____
TOTAL FUNDS	101,825	83,559	30,485	-	154,899
	________		____	____	____

11. ANALYSIS OF FUND BALANCES BETWEEN NET ASSETS

	Unrestricted	Restricted	Total
	£	£	£
Fixed assets	1,529	-	1,529
Current assets	80,679	74,940	155,619
Current liabilities	(2,250)	-	(2,250)
	________		____
	79,958	74,940	154,898
	________		____