Charity registration number 1143970
Company registration number 07589687 (England and Wales)
PHILADELPHIA MISSION FOR CHRIST
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024
PHILADELPHIA MISSION FOR CHRIST
LEGAL AND ADMINISTRATIVE INFORMATION
Charity number 1143970 Company number 07589687 Independent examiner Harvine Consultants Ltd 27 Keble Close Crawley RH10 3TD
PHILADELPHIA MISSION FOR CHRIST
CONTENTS
| Page | |
|---|---|
| Trustees | 1 |
| Independent examiner's report | 2 |
| Statement of financial activities | 3 |
| Balance sheet | 4 |
| Notes to the financial statements | 5 - 8 |
PHILADELPHIA MISSION FOR CHRIST
TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 30 APRIL 2024
The trustees present their annual report and financial statements for the year ended 30 April 2024.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's [governing document], the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019).
Objectives and activities
The charity's objectives are:
1) Education/training.
2) The prevention or relief of poverty. 3) Religious activities.
4) Economic/community development/employment The charity makes grants to organisations, provides human resources and provides services.
Public benefit
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
Achievements and performance
Significant activities and achievements against objectives
Financial review
Reserves policy
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
Structure, governance and management
The charity is a company limited by guarantee.
The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
Lucy Amara Mr Musa Ephraim Mr Henry Martindale Aminata Turay Mr Sydney Martindale
The trustees report was approved by the Board of Trustees.
Henry Martindale (Feb 7, 2025 11:25 GMT) Mr Henry Martindale
30 January 2005
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PHILADELPHIA MISSION FOR CHRIST
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF PHILADELPHIA MISSION FOR CHRIST
I report to the trustees on my examination of the financial statements of Philadelphia Mission for Christ for the charity year ended 30 April 2024.
Responsibilities and basis of report
As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).
Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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1 accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
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2 the financial statements do not accord with those records; or
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3 the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
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4 the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
Harvine Consultants
Harvine Consultants (Feb 7, 2025 11:31 GMT)
Harvine Consultants Ltd
Dated: 30 January 2025
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PHILADELPHIA MISSION FOR CHRIST
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 30 APRIL 2024
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2024 | 2023 | ||
| Notes | £ | £ | |
| Income from: | |||
| Donations and legacies | 2 | 31,108 | 21,373 |
| Investments | 3 | 2,158 | 620 |
| Total income | 33,266 | 21,993 | |
| Expenditure on: | |||
| Charitable activities | 4 | 23,727 | 21,856 |
| Total expenditure | 23,727 | 21,856 | |
| Net income and movement in funds | 9,539 | 137 | |
| Reconciliation of funds: | |||
| Fund balances at 1 May 2023 | 132,657 | 132,520 | |
| Fund balances at 30 April 2024 | 142,196 | 132,657 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
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PHILADELPHIA MISSION FOR CHRIST
BALANCE SHEET
AS AT 30 APRIL 2024
| Notes Current assets Debtors 9 Cash at bank and in hand Creditors: amounts falling due within one year 10 Net current assets The funds of the charity Unrestricted funds 11 |
2024 £ - 142,756 142,756 (560) |
£ 142,196 142,196 142,196 |
2023 £ 521 132,616 133,137 (480) |
£ 132,657 |
|---|---|---|---|---|
| 132,657 | ||||
| 132,657 |
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 30 April 2024.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the trustees on 30 January 2025
Henry Martindale (Feb 7, 2025 11:25 GMT) Mr Henry Martindale
Company registration number 07589687 (England and Wales)
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PHILADELPHIA MISSION FOR CHRIST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024
1 Accounting policies
Charity information
Philadelphia Mission for Christ is a private company limited by guarantee incorporated in England and Wales. The registered office is .
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's [governing document], the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
1.4 Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
1.5 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
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PHILADELPHIA MISSION FOR CHRIST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2024
1 Accounting policies
(Continued)
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
2 Income from donations and legacies
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2024 | 2023 | |
| £ | £ | |
| Donations and gifts | 31,108 | 21,373 |
3 Income from investments
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Interest receivable | 2,158 | 620 | |
| 4 | Expenditure on charitable activities | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Direct costs | |||
| Repais and maintenance | 70 | - | |
| Rent | 7,746 | 6,785 | |
| Welfare and ministry | 10,938 | 8,028 | |
| Evangelism & missions | 333 | 5,030 | |
| Bank interest & charges | 105 | 94 | |
| Hiring expenses | 50 | 360 | |
| Travel & subsistence | 250 | 500 | |
| Ministerial expenses | 3,235 | - | |
| Sundry expenses | 520 | 556 | |
| Accountancy fees | 480 | 503 | |
| 23,727 | 21,856 | ||
| Analysis by fund | |||
| Unrestricted funds | 23,727 | 21,856 |
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PHILADELPHIA MISSION FOR CHRIST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2024
| 5 | Net movement in funds | 2024 | 2023 |
|---|---|---|---|
| £ | £ |
The net movement in funds is stated after charging/(crediting):
6 Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
7 Employees
| 2024 | 2023 | |
|---|---|---|
| Number | Number | |
| Total | - | - |
There were no employees whose annual remuneration was more than £60,000.
8 Taxation
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
9 Debtors
| Amounts falling due within one year: Trade debtors Prepayments and accrued income 10 Creditors: amounts falling due within one year Accruals and deferred income |
2024 £ - - - 2024 £ 560 |
2023 £ 1 520 |
|---|---|---|
| 521 | ||
| 2023 £ 480 |
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PHILADELPHIA MISSION FOR CHRIST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2024
11 Unrestricted funds
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
| At 1 May 2023 Incoming resources Resources expended At £ £ £ General funds 132,657 33,266 (23,727) Previous year: At 1 May 2022 Incoming resources Resources expended At £ £ £ General funds 132,520 21,993 (21,856) |
30 April 2024 £ 142,196 30 April 2023 £ 132,657 |
|---|---|
12 Related party transactions
There were no disclosable related party transactions during the year (2023 - none).
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