Pentecostal Sanctuary Bible Ministries Limited
Trustee's and Minister's Report
The church ministers present their report with the annual accounts of the church for the period ended 30 September 2022.
Background
Pentecostal Sanctuary Bible Ministries Limited was first incorporated on 7th September 2004. The ministers of Pentecostal Sanctuary Bible Ministries Limited continues to shoulder the responsibility of co-operating with the church members in promoting the whole mission of the church, ministerial, evangelistic, social and ecumenical.
The ministers also has the responsibility for managing the income arising from giving's by members and also for maintaining the church activities, all of which are dealt with in the accounts.
Activities
The principal activity of the church is promoting, proclaiming and evangelising the words of God to all concerned. The activities of the church is normally carried out at Kings Heath Community Centre in Northampton but the church is actively seeking a permanent place of worship and the ministers continue praying and leaves their thoughts with God for a permanent site.
Service duty officers and welcomers'
The ministers and other members (as time permits) of the church takes it in turns to act as service duty officers and as welcomers.
Review of the Results
Within the year under review and after all necessary related deductions the ministry has a net surplus of £606 remaining at the end of this ministerial year as compared to a net surplus of £8,979 at the end of the previous year.
Going concern
The ministers has a reasonable expectation that the church has adequate resources to continue evangelising and proclaiming the words of God into the foreseeable future. For this reasons, they continue to adopt the going concern basis in preparing the annual accounts for their church.
Incorporation and Registration
The church's companies house registration number is 05 22 39 10.
Correspondence Address
Pentecostal Sanctuary Bible Ministries Ltd 75 Great Holme Court Thorplands Northampton Northamptonshire NN3 8AE
1
Pentecostal Sanctuary Bible Ministries Limited
Trustee's and Minister's Responsibilities
In order to achieve their statutory obligations as regards financial matters, the ministers are responsible for all the church finance, its management and control including the appointment of other officers such as the treasurer.
We acknowledge our responsibilities for:
-
(a ) ensuring that the church select suitable financial policies and apply them consistently, make judgments and estimates that are reasonable and prudent and state whether applicable accounting standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the annual accounts.
-
(b ) ensuring that the church keeps adequate accounting records which are sufficient to show and explain all the church transactions and which record all relevant assets and liabilities.
-
(c ) preparing annual accounts which gives a true and fair view of the state of affairs of the church as at the end of each financial year and of its results for each financial year in accordance with the requirements of the church relating the annual accounts so far as applicable to the church.
Minster's Acknowledgement
We certify that the books, vouchers, invoices, statements and information made available and given to the accountant (Messer's Brown & Bam Associates) from which these financial statements were prepared contain a full and correct record of Pentecostal Sanctuary Bible Ministries Limited's business transactions to the best of our knowledge.
On behalf of the trustees, ministers and members.
28th June 2023
…………………………………….. …………………………………….. Deaconess Soyinka Date Director
2
Pentecostal Sanctuary Bible Ministries Limited
Accountants Report
In order to fulfil their statutory responsibilities the ministers of Pentecostal Sanctuary Bible Ministries Limited has instructed us to assist in compiling these unaudited annual accounts.
We have prepared the annexed Statement of financial activities, Balance Sheet and the related notes from the records kept, information supplied and explanation given by the ministers of Pentecostal Sanctuary Bible Ministries Limited a church limited by guarantee for the period ended 30 September 2022.
This report is made solely to the Church, its ministers and members as a body. Our work has been undertaken so that we might state to the ministers and members those matters we are required to state to them in the annual accounts and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Church, its ministers and members as a body for our work or for any opinion formed on this report.
Basis
-
(a) The accounts of the church for the financial year in question are in agreement with the accounting records kept by the church under section 221 of the Companies Act 1985; and
-
(b) having regard only to, and on the basis of, the information in those accounting records, those accounts have been drawn up in a manner consistent with the provisions of the Act as specified in subsection (6) of section 249C, so far as applicable to the church;
-
(c) having regard only to, and on the basis of, the information in the accounting records, the church satisfied the requirements of section 249A(4), for the financial year in question, and did not fall within section 249B(1)(a) to (f) at any time within that financial year.
Opinion
In our opinion the annual accounts give a true and fair view of the state of the church's affairs as at 30 September 2022 and of the Church's incoming resources and application of resources, including its income and expenditure, in the year then ended and have been properly prepared in accordance with the Charities Act 1993.
Brown & Bam Associates Accountants, Business and Tax Advisers
143 Pembury Avenue Worcester Park Surrey KT4 8BX Brown & Bam Associates
3
Pentecostal Sanctuary Bible Ministries Limited
Statement of Financial Activities For the period ended 30 September 2022
| Notes Incoming resources Incoming resources from donors Other voluntary incoming resources Income from operating activities Total incoming resources Resources expanded Grants: Missionary and charitable giving Activities directly related to the work of the church Church expenditure Maintenance and administration Church management and administration Total resources expended Net incoming/(outgoing) resources Gains on investments Net movement in funds Funds at beginning of year Funds at end of year |
Unrestricted Funds General Fabric Restricted 2022 Fund Fund Fund Total £ £ £ £ 30,966 - 6,798 37,764 - - - - - - - - 30,966 - 6,798 37,764 7,885 - - 7,885 24,648 - - 24,648 828 - - 828 3,797 - - 3,797 37,157 - - 37,157 (6,192) - 6,798 606 - - - - (6,192) - 6,798 606 6,992 - 2,486 9,478 800 - 9,284 10,084 |
2021 Total £ 27,248 - - 27,248 2,317 11,671 - 4,281 18,269 8,979 - 8,979 9,478 18,457 |
|---|---|---|
4
Pentecostal Sanctuary Bible Ministries Limited
Balance Sheet As at 30 September 2022
| Notes Fixed assets Church & Office equipment Current assets Amounts receivable Cash in hand and at bank Current liabilities Sundry creditors Net current assets/(liabilities) Net assets Funds General funds Fabric fund - designated fund Total - Unrestricted funds Restricted funds |
Unrestricted Funds General Fabric Restricted 2022 Fund Fund Fund Total £ £ £ £ 970 - - 970 970 - - 970 0 - - 0 11,753 8,020 - 19,773 11,753 8,020 - 19,773 480 - - 480 11,273 8,020 - 19,293 12,243 8,020 - 20,263 800 800 - - 800 - 800 9,284 9,284 800 - 9,284 10,084 |
2021 Total £ 1,307 1,307 - 18,349 18,349 479 17,870 19,177 6,992 - 6,992 2,486 9,478 |
|---|---|---|
(a) For the year ended 30 September 2022 the company was entitled to exemption under section 249A(2) of the Companies Act 1985.
(b) Members have not required the company to obtain an audit in accordance with section 249B(2) of the Companies Act 1985;
- (c) The directors acknowledge their responsibility for:
i. ensuring the company keeps accounting records which comply with section 221; and
ii. preparing accounts which give a true and fair view of the state of affairs of the company as at the end of the financial year, and of its profit or loss for the financial year, in accordance with the requirements of section 226, and which otherwise comply with the requirements of the Companies Act relating to accounts, so far as applicable to the company.
- (d) The accounts have been prepared in accordance with the special provisions in Part VII of the Companies Act 1985 relating to small companies.
The annual accounts on pages 4 to 10 were approved by the ministers of Pentecostal Sanctuary Bible Ministries Limited and were signed on its behalf by:
Soyinka pp
28th June 2023
…………………………………….. …………………………………….. Deaconess Soyinka Date Director
5
Pentecostal Sanctuary Bible Ministries Limited
Notes to the financial statements for the period ended 30 September 2022
1 Principal accounting policies
Accounting policies
The accounts have been prepared in accordance with the Church Accounting Regulations 1997 as amended by the Church Accounting (Amendment) Regulations 2001, together with applicable accounting standards and the Charities SORP under the historical cost convention, as modified by the revaluation of investments.
Funds
Unrestricted funds represent the funds of the church that are not subject to any restrictions regarding their use and are available for the general purpose of the church.
The purpose of any restricted fund is noted in the accounts.
The accounts include all transactions, assets and liabilities for which the ministers are responsible in law.
Voluntary income
Voluntary income and giving is recognised upon receipt.
Church assets
Church assets are depreciated annually, but the carrying value are reviewed periodically to ascertain the state at which they are to be carried forward. This are recorded at cost and depreciated over their expected useful lives as follows:
| Office equipment | 5 years |
|---|---|
| Choir Uniform & Church equipment | 3 years |
| Hymns books and others | 10 years |
| Motor vehicle | 4 years |
2 Incoming resources from donors
| Regular giving -envelope scheme, etc -others Total regular giving |
2022 £ 37,764 - 37,764 |
2021 £ 27,248 - 27,248 |
|---|---|---|
3 Other voluntary incoming resources
| Grants Special events Other donations and legacies |
2022 £ - - - - |
2021 £ - - - - |
|---|---|---|
6
Pentecostal Sanctuary Bible Ministries Limited
Notes to the financial statements for the period ended 30 September 2022
4 Income from operating activities
| Weddings Other 5 Missionary and charitable giving Specific collections Charitable donations Other 6 Church expenditure Minister's expenses Visiting clergy and speakers Mission and related expenses Church expenses: - Hall hire - Office rent - Drummer hire - Instrument hire - Lectern - Gas - Electricity - Water - Telephone - Insurance - Cleaning - Other Subscriptions and sundry donations Others 7 Maintenance and administration Routine repairs and maintenance Others |
2022 £ - - - 2022 £ - 3,997 3,888 7,885 2022 £ - 8,880 - 13,778 - - - - - - - - 1,991 - - - - 24,648 2022 £ 828 - 828 |
2021 £ - - - 2021 £ - 2,304 13 2,317 2021 £ - 933 - 9,749 - - - - - - - - 989 - - - - 11,670 2021 £ - - - |
|---|---|---|
7
Pentecostal Sanctuary Bible Ministries Limited
Notes to the financial statements for the period ended 30 September 2022
8 Church management and administration
| Printing, stationery, postage and supplies Travel expenses Vehicle expenses Pre Incorporation Convention, Seminar & Training Information & publication Advert & Promotions Office & Administration Accountancy fee Legal & professional fees Website/Internet Expenses Depreciation:- Church & Office equipment Church & Office equipment Computer Equipment Choir Uniform Motor Vehicle Hymns books Other 9 Employee information The average monthly number of employees (including the ministers) during the period was: Staff costs were as follows: Wages and salaries Social security costs Other pension costs |
2022 £ 1,063 1,430 - - - - - - 480 - - - 159 177 - - - 486 3,797 2022 Number 2 £ - - - - |
2021 £ 755 1,499 173 - - 40 - 248 240 - - - 1,053 273 - - - - 4,281 2021 Number 2 £ - - - - |
|---|---|---|
10 Related party transactions
The ministers are not members or share holders of any other organisation that the church has any dealings with. All transactions between the church and its client customers were conducted on an arm's length basis on normal trading terms.
11 Contingent liabilities
There are no contingent liabilities arising from contractual disputes.
8
Pentecostal Sanctuary Bible Ministries Limited
Notes to the financial statements for the period ended 30 September 2022
12 Tangible Fixed Assets
| 1st & 2nd Sound Asset Mixer Choir Computer Motor EquipmentSpkrs, etc Uniform Equipment Vehicle £ £ £ £ £ Cost As at 1 October 2021 3,303 9,063 1,275 1,207 4,145 Additions - - - - - Disposals - - - - - As at 30 September 2022 3,303 9,063 1,275 1,207 4,145 Depreciation As at 1 October 2021 3,303 7,933 1,275 1,030 4,145 Charge for the year - 159 - 177 0 Disposals - - - - - As at 30 September 2022 3,303 8,092 1,275 1,207 4,145 Net Book Value As at 30 September 2022 - 971 - 0 - 0 - As at 1 October 2021 - 1,130 - 177 - Cost or Valuation at the year end is represented by: Cost 3,303 9,063 1,275 1,207 4,145 |
2022 Total £ 18,993 - - 18,993 17,686 337 0 18,023 970 1,307 18,993 |
|---|---|
13 Capital commitments
| Expenditure that has been contracted for but has not been provided in the annual account Expenditure that has been authorised by the minister but has not yet been contracted for 14 Revenue commitments Expenditure that has been contracted for but has not been provided in the annual account Expenditure that has been authorised by the minister but has not yet been contracted for |
2022 £ NIL NIL 2022 £ NIL NIL |
2021 £ NIL NIL 2021 £ NIL NIL |
|---|---|---|
9