2023-12-31-accounts - Emmanuel Assemblies Of God

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator. This document is also available as Markdown.

==> picture [561 x 170] intentionally omitted <==

REPORT AND FINANCIAL STATEMENTS For the Year Ended 31 December 2023

Registered Charity No: 1131964

December 31, 2023

Emmanuel Assemblies of God ( EMAG) 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

December 31, 2023

Emmanuel Assemblies of God ( EMAG) Trustees Annual Report & Financial Statements

LEGAL AND ADMINISTRATIVE INFORMATION

Pastor/Rev. Minister:	Pastor Emmanuel Katakyie
	Ampofo
Management & Trustees:	VIVIAN WEREKOA
	Mavis Wright
Registered Office:	122 Garnet Road
	Leeds
	LS11 5JY
Charity Number:	1131964
Accountants:	Jacob Manu & Co
	Chartered Certified Accountant
	Boardman House
	64 Broadway
	Stratford
	London
	E15 1NT
Bankers:	Barclays Bank

December 31, 2023

Emmanuel Assemblies of God ( EMAG) Trustees Annual Report & Financial Statements

REPORT OF THE TRUSTEES

The Trustees present the Annual Report and financial statements of Emmanuel Assemblies of God for the year ended 31 December 2023. In preparing the annual report and financial statements of the charity/company, the Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities" (revised 2005). 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.

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 manages the affairs of the church. The Board and the Church Council work cooperatively with the Reverend Minister and are responsible for making decisions on all matters of general concern and importance to the church.

December 31, 2023

Emmanuel Assemblies of God ( EMAG) Trustees Annual Report & Financial Statements

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

AIMS AND PURPOSE/OBJECTIVES

The Emmanuel Assemblies of God was set up to, among others; advance the Christian faith by providing an enabling environment for worshipping God, sharing and demonstrating the Love of God to every person in every way possible, baptising and teaching the saints the WORD OF GOD from the Bible.

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 provide education and training for good life and community service and to share and demonstrate God’s love by ministering to the needs of the community.

3. Worship services which are opened to the 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, telling people about the love of Christ by the use of the media, tracts and other educative materials.

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

December 31, 2023

Emmanuel Assemblies of God ( EMAG) Trustees Annual Report & Financial Statements

PURPOSE AND PRINCIPAL ACTIVITIES

The EMMANUEL ASSEMBLIES OF GOD 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 community and constantly seek ideas on how our services can involve the diverse population and groups within our church and the community. Our services and worship put faith into practice through prayer, 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 the specific guidance on charities for the advancement of religion. 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.
Missionary and outreach work.
Education and training

A summary of the result of the Emmanuel Assemblies of God’s activities during the period is given in the Statement of Financial Activities on page 16. The total income of the charity amounted to £192,990. The income was spent to carry out the objectives of the Church. Undoubtedly, the national lockdown in England in 2022 did impact the activities and income of the church. The coronavirus pandemic (COVID-19) did affect the organisation in several ways. The Church is now coming out fully after the pandemic.

Financial Review

The book values of the assets held at year-end are, in the opinion of the Board of Trustees, as stated in the financial statements. Also, adequate assets are available to fulfil the charity's obligations. Our principal source of funds comes from the generous donations of committed members through Tithes and Offerings. Total income was £192,736,, of which £ 127,979 was spent to promote the Christian ministry and charitable activities.

Reserves Policy

The Trustees have identified the need for reserves to be held. Developing a reserves policy will assist in strategic planning, such as considering how new projects or future activities will be funded. To ensure sustainability and continuity of future financing activities, the trustees plan unrestricted funds to cover at least 3 months of free payments. This policy will be reviewed regularly to meet the charitable needs of the Church. A review of this policy brought to light the need to have reserves to cover more than 6 months of unrestricted payments (this decision was as a result of COVID-19 when there was a national

December 31, 2023

Emmanuel Assemblies of God ( EMAG) Trustees Annual Report & Financial Statements

lockdown for more than 6 months). Steps are being taken by trustees to ensure the church holds reserves to cover at least 6 months of unrestricted payments once things get back to normal.

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 in the community and to members who find themselves in some form of financial difficulty.

Volunteers

It is worth noting that without the selflessness, hardwork and dedication of our volunteers we couldn’t have achieved our aims and objectives. The volunteers at EMAG 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.

December 31, 2023

Emmanuel Assemblies of God ( EMAG) Trustees Annual Report & Financial Statements

ACHIEVEMENT AND PERFORMANCE

Worship and Prayer

Emmanuel Assemblies Of God 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 and this provide opportunities for people to communicate with God on a more personal basis.

We are excited to see several families join our church, and we are very happy to see them enjoy the welcoming environment and the fellowship shared by all; and to integrate better in the community. Everyone is welcome to attend our regular services.

THE PANDEMIC (COVID-19)

The year 2022 has undoubtedly devastated many individuals, families, organisations, and nations due to the COVID-19 pandemic. Most services/activities were suspended, and we tried to find safer ways to reach the community. Online services became a priority – we delivered most of our online activities. As for all activities, the current COVID-19 pandemic has certainly hurt the activities of our charity. Nevertheless, we did not experience consequences beyond our control. We managed to sail through the financial rough waters thanks to the faithfulness of our members, who kept on with their support even while locked away at home. The church has since resumed it activities, adapting to the new normality of the times

December 31, 2023

Emmanuel Assemblies of God ( EMAG) 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.

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

............................................... Trustee

Date: 30/10/2024

December 31, 2023

Emmanuel Assemblies of God ( EMAG) Trustees Annual Report & Financial Statements

INDEPENDENT EXAMINERS’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2023

We have examined the financial statements on pages 16 to 18 for the year ended 31 December 2022 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 information specified by law regarding trustees' remuneration and other transactions with the charity is not disclosed.

December 31, 2023

Emmanuel Assemblies of God ( EMAG) Trustees Annual Report & Financial Statements

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: 30/10/2024

Jacob Manu & Co Chartered Certified Accountants 1 Mark Street, Stratford, London, E15 4GY

December 31, 2023

Emmanuel Assemblies of God ( EMAG) Trustees Annual Report & Financial Statements

STATEMENT OF FINANCIAL ACTIVITY FOR THE PERIOD ENDED 31 DECEMBER 2023

Unrestricted funds £	Restricted income funds £	Total this year 2023 £	Total last year 2022 £
130,005	-	130,005	137,520
-		-	-
57,230		57,230	51,650
5,001		5,0001	3,820
-	-	-	-
192,736		192,990	192,990

124,979	-	124,979	98,636
-	-	-
-	-	-	-
3,000	-	3,000	3,000
-	-	-	-
127,979		127,979	101,636
64,757		64,757	91,354
-	-	-	-


-	-	-	-
64,757		64,757	91,354
339,714		339,714	248,265
404,471		404,471	339,714

December 31, 2023

Emmanuel Assemblies of God ( EMAG) Trustees Annual Report & Financial Statements

BALANCE SHEET AS AT 31 DECEMBER 2022

Unrestricted funds £ 2023	Total funds £ 2023	Total this year 2022 £ 2022
673,450	673,450	23,450
673,450	673,450 -	23,450

-	-	-
235,575	235,575	53,050
-	-	-
128,222	128,222	268,324
363797	363,797	321,374

(13,560)	(13,560)	(5,110)

350,237	350,237	316,264

1,023,687	1,023,687	339,714

(619,216)	(619,216)	-

404,471	404,471	339,714

404,471	404,471	339,714
-		-


404,471		339,714

December 31, 2023

Emmanuel Assemblies of God ( EMAG) Trustees Annual Report & Financial Statements

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2022

Registered Charity Number 1118282

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 includes 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.
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.

December 31, 2023

Emmanuel Assemblies of God ( EMAG) Trustees Annual Report & Financial Statements

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2022

Registered Charity Number 1118282

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.

December 31, 2023

Emmanuel Assemblies of God ( EMAG) Trustees Annual Report & Financial Statements

EMMANUEL ASSEMBLIES OF GOD ( EMAG)

ACCOUNT FOR THE PERIOD TO 31 DECEMBER 2023

Income Donation Rental Income Gift Aid Other income Expenditure Pastoral expenses Honararium Mortgage Utilities Telephone and Broadband TV licence Welfare Equipment Ministry event Insurance Car maintenance and travel Other supporting ministries Building repairs and maintenance Stationery/postage Professional fees Mission- AOG Surplus for the period	2023 2022 £ £ 130,005 137,520 500 500 57,230 51,150 5,001 3,820
	192,736 192,990 24,000 24,000 4,110 3,500 40,963 12,000 10,140 3,564 1,132 1,020 154 154 2,500 3,563 2,650 1,168 18,024 13,428 1,020 888 745 4,980 12,530 12,530 5,110 6,750 401 401 3,000 3,000 1,500 408
	127,979 91,354
	64,757 101,636