2022-12-31-accounts - House Of Glory International Ministry

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HOUSE OF GLORY INTERNATIONAL MINISTRY

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31[ST] December 2022

CHARITY NUMBER: 1140364

HOUSE OF GLORY INTERNATIONAL MINISTRY 139 LILLECHURCH ROAD DAGENHAM RM8 2BZ

INDEX Page Index 1 Trustee’s Report 2-3 Independent Examiner’s Report 4 Statement of Financial Activities 5 Balance Sheet 6 Notes on the financial Statements 7 - 9

HOUSE OF GLORY INTERNATIONAL MINISTRY

TRUSTEES’ REPORT YEAR ENDED 31[ST] DECEMBER 2022

The trustees are pleased to present their report for the year ended 31[ST] December 2022 for the charity, House of Glory International Ministry with Charity Number 1140364.

The Trustees of the charity are: Mr Alexander Owoo Ms Bridget Adebajo Mr Patrick Owusu Sekyere Mr Richard Akogun

The principal address of the charity is: 139 Lillechurch road Dagenham RM8 2BZ

STRUCTURE, GOVERNANCE AND MANAGEMENT

The Charity governing document is a trust deed that was adopted on 25[th] January2011 as amended by supplemental deed on 10[th] August 2012 .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], to relieve persons who are in condition of need or hardship or relieve distress caused thereby in the United Kingdom or abroad. 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 continues to hold successful services through the year in which individuals were equipped and educated on the principles and doctrines of the Christian faith .The church held several conferences to assist the development of the people in the community. The church also supported other charity organisations with similar objects with helping those in need. The church continues to run the workplace pension for its employee as required by the government legislation. The church also continues to hold it services in the hired premises.

FINANCIAL REVIEW

The income of the charity is above £90,000. The church used most of the amount of its income in paying church rent for church premises for its services as they moved into new premises during the year. The charity had a surplus at the end of the year and is saving up to acquire its own building in the future. The church continues to run a workplace pension to support its employee this year.

FUTURE DEVELOPMENTS

The church intends to continue to host its regular yearly conferences in UK. 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:

Select suitable accounting policies and apply them consistently.
Make judgements and estimates that are reasonable and prudent.
State whether the applicable accounting standards have been followed.
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 13[th] February 2023 and signed on their behalf by:

Independent Examiner’s Report To the Trustees

HOUSE OF GLORY INTERNATIONAL MINISTRY

I report on the accounts of the church for the year ended 31[ST] December 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 :

Examine the accounts under section 145 of the 2011 Act.
Follow the procedures laid down in the General Directions given by the Charity Commissioners made under section 145(5)(b) of the 2011 Act.
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;

(1) which gives me reasonable cause to believe that, in any material aspect, the trustees have not met the requirements to ensure that:
proper accounting records are kept( in accordance with section 130 of the 2011 Act
accounts are prepared which agree with the accounting records and comply with the accounting requirements of the 2011 Act: or
(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 Generator Business Centre 95 Miles Road Mitcham Surrey CR4 3FH

HOUSE OF GLORY INTERNATIONAL MINISTRY

ACCOUNTS FOR THE YEAR ENDED 31st December 2022

1 Receipts & Payments Account (General Purpose Fund)

Income Receipts Other Income Church Donations Gift Aid Total Receipts Direct Charitable Expenditure Church events Benevolent giving Mission Renewals & Repairs Hall Hire Wages Charity donation Accounting services PAYE Advertising & Printing Welfare Pension Stationary & Books Professional fees Church Supplies Admin Music Services Travel and Substitence Speakers expenses Other Expenditure Equipment Fixtures & Fittings Hospitality Total Payments Net Receipts/(Payments) for the year Cash Funds brought forward Loan out Loan in Cash Funds at the end of the year	£ 2022 19000 57795 16055 ___ 92850 5850 6850 23380 0 10539 7896 4850 472 0 0 4800 1500 500 1717 600 184 6431 1200 9806 86575 0 0 135 135 86710 6140 51708 -4259 _ 53589 _	£ 2021 64285 13563
		___ 77848 3829 0 4294 0 10400 21223 4108 360 5394 915 17805 4786 350 895 100 1248 4876 3100 2775
		86458 0 0 0
		0 86458 -8610 60850 -532
		51708 ___

HOUSE OF GLORY INTERNATIONAL MINISTRY

2 Statements of Assets and Liabilities at 31st December 2022

Cash Funds NatWest Bank Total Cash Funds Assets Retained for the Charity's Own use Fixtures & Fittings Instruments Equipment Bus Loan Liabilities Bounce back Loan Accounting fee NET ASSETS	Unrestricted Funds 2022 £ 53589 _ 53589 _ 526 1013 640 734 0 2913 28500 380 27622	2021 £ 51708
		___ 51708
		___ 658 1266 800 918 532
		4174 29518 360
		26004

Approved by the Trustees and signed on their behalf:

HOUSE OF GLORY INTERNATIONAL MINISTRY

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31st DECEMBER 2022

ACCOUNTING POLICIES

Basis of Accounting

These accounts have been prepared on the receipts and payments basis under section Charities Act 2011.

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.

Staff

The organisation had 1 employee during the accounting year. All the other work of the church was carried out by volunteers. No employee earned more than £10,000 in the financial year.

Pension

The organisation implemented a workplace pension for employees during the financial year.

Depreciation

The depreciation on equipment, Instruments and vehicle is calculated at 20% reducing straight line method.