OpenCharities

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

2020-10-31-accounts

Registered Charity Number 1145105

ARK OF THE COVENANT PRAYER AND WORSHIP TABERNACLE (ACPWT)

A Charitable Company Limited By Guarantee

REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2020

ARK OF THE COVENANT PRAYER AND WORSHIP TABERNACLE Annual Trustees Report and Financial Statements

Year Ended 31 October 2020
CONTENTS
Page
Legal and administrative information 3
Report of the Trustees 4-9
Report of the auditors 10-11
Statement of financial activities 12
Balance sheet 13
Notes to the financial statements 14-17

ARK OF THE COVENANT PRAYER AND WORSHIP TABERNACLE

Annual Trustees Report and Financial Statements LEGAL AND ADMINISTRATIVE INFORMATION

Trustees & Directors:

Rev. Donna Davis Mrs. Glastine Francis Ms Eunice Kumbirayi Mr Joseph Herelle

Secretary: Ms. Althea Russell

Company number: 06719936 Charity number: 1145105

Accountants:

Jacob Manu & Co 1 Mark Street Stratford London E15 4GY

Bankers: Natwest Plc Ilford Branch 50 Ilford Hill Essex IG1 2AT

Solicitors:

Callistes Solicitors 146 Berkeley Street London SW2 5UT

Registered Office:

5 West Road Chadwell Heath RM6 6YA

ARK OF THE COVENANT PRAYER AND WORSHIP TABERNACLE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 OCTOBER 2020 Company Number 06719936 Registered Charity Number 1145105

The Trustees present the financial statements of Ark of the Covenant Prayer and Worship Tabernacle for the year ended 31 October 2020. The Trustees are also directors for Companies Act purposes. The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities" (revised 2005) in preparing the Annual Report and Financial Statements of the charity/company. The Report and Financial Statements also comply with the Companies Act 2006.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Legal status and Governing document

The Church is a charitable company limited by guarantee. The objects and powers of the company were established in its Memorandum of Association and are governed by its Articles of Association. The directors of the charitable company (the charity) are its trustees for the purposes of the charity law and throughout this report are collectively referred to as the Trustees. They are responsible for arranging and organising Annual General Meetings - AGM.

Appointment

The who held office during the financial year and at the date of this report are set out on page 1. The Trustees are appointed in accordance with the rules set out in the Articles of Association and as per the charity’s governing document.

Induction and Training

The existing Trustees are familiar with the practical work of the company. Any new trustees would undergo orientation to inform them on their legal obligation under charity and company law, the content of the Memorandum and Articles of Association, the decision making processes, the objectives and strategies and recent financial performance of Ark of the Covenant Prayer and Worship Tabernacle. Additionally, the charity arranged appropriate training internally and through other voluntary training providers.

The Trustees and all involved in the running of the charity, including volunteers are always encouraged to attain/refresh the necessary skills required to achieve the objectives of the company.

Organisation

The Board of Trustees is responsible for the overall strategy and direction of the charity and meet at least twice a year. The Trustees give their time on a voluntary and unpaid basis. The Board of Trustees has also appointed the following committees to support them in the management of ACPWT's operations. They include the Finance, Welfare, Hospitality, Academic, Mission and Outreach. The teams provide much needed advise to the Trustees/Directors who retain overall power to establish and implement policies and procedures that will enable the church to achieve its goals.

ARK OF THE COVENANT PRAYER AND WORSHIP TABERNACLE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 OCTOBER 2020 Company Number 06719936 Registered Charity Number 1145105

Risk Management

The Trustees carry out continuous assessments to prioritise the company’s risk and to strengthen our resilience. The Trustees have examined the principal areas of ACPWT operations and have considered the major risks that could arise in these areas. In the opinion of the Trustees, ACPWT has appropriate policies and procedures in place, which provide reasonable assurance that the risks identified by them are mitigated to an acceptable level. Major risks, for this purpose, are those that may have a significant effect on:

Interest of Board of Trustees

No member of the Trustees had, at any time during the period under consideration, any interests in the charity which require disclosure in this report.

OBJECTIVE, AIMS AND PRINCIPAL ACTIVITIES

The Ark of the Covenant Prayer and Worship Tabernacle was set up to among others, advance the Christian faith in accordance with the general principles and doctrines of Christ Jesus. The principal activities of the church include:

  1. The propagation of the Gospel of Jesus Christ and the Word of God, that people may be evangelised and believers may be conformed to the teachings of the Lord Jesus Christ.

  2. To regularly assemble members of the church for fellowship.

  3. To strengthen the family units so that the home life of each member is biblically healthy and fruitful.

  4. To involve every member in the activities of the church and in the ministry of the Holy Spirit throughout the Body of Christ.

  5. To engage in charitable activities for not only the members of the church, but the community at large who are in need of any help which the charity can give, regardless of race, colour or religious affiliation.

  6. To advance the education of the general public in areas relating to HIV and AIDS

ARK OF THE COVENANT PRAYER AND WORSHIP TABERNACLE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 OCTOBER 2020 Company Number 06719936 Registered Charity Number 1145105

ACHIEVEMENTS, PERFORMANCE AND PLANS FOR THE FUTURE

Delivering Public Benefit

The charity carries out various activities in pursuance of its charitable aims. The Trustees are pleased to be able to report on another varied and wide range of activities and events that have taken place throughout the financial year. Due to the Covid-19 pandemic and to keep members/congregants and staff safe and healthy as possible, as we exercise our faith, church fellowship, services and other programmes were conducted online and via Zoom.

As gathering together for worship is at the heart of our faith traditions, decisions and strategies on reopening in accordance with the Government guidelines were implemented October 2020.

The Trustees consider the following activities summarised below provide benefit to members of the church, non-members and the local and wider community of London and the United Kingdom.

ACPWT continues to effectively demonstrate that the church is both relevant and vital for wider society. Our unceasing passion is to honour God with our lives and be a blessing to humanity with our different gifts.

Teaching/lectures

We continue to promote Bible study and religious teachings and practices. Approximately 18 hours of lectures are delivered weekly to enhance spiritual growth, development and good morals as a person and in the community. For the year in review most teachings, preaching, counselling were done via Zoom, due to the Coronavirus pandemic.

Membership of Evangelical Alliance

Being a member of the Evangelical Alliance, we are integrated to a wider community united across denominations, locations, age group and ethnicities. Our membership has helped the church to have access to spiritual information regarding working together to reach the lost souls across regions and connects us to a wider evangelical network in the UK.

A Call to Prayer – Prayer Initiative

We hold weekly prayer initiative (Via Zoom) through the Welfare and Intercessory Ministry to facilitate effective, fervent and specific prayers for individuals, families, our communities, government and the international community. A Prayer line is active in this Ministry to ensure there are people dedicated to pray at set time. Our Prayer Initiative and Intercessory Group provided immense support to members and their families as well as to non-members during the coronavirus pandemic. Our weekly and monthly Fasting and Prayer Programme also gives an opportunity for all Christian and members of the community to come together to pray for individuals, families, children and young people, local communities and nations – this was done via Zoom during the year in review.

ARK OF THE COVENANT PRAYER AND WORSHIP TABERNACLE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 OCTOBER 2020 Company Number 06719936 Registered Charity Number 1145105

Conference

The church continues to reach further in the fulfilment of its divine assignment, touching many more lives with liberating message of the kingdom of God and the practical demonstration of God’s grace and favour in different ways in the United Kingdom and other nations. This annual international event was cancelled due to the Coronavirus pandemic.

Kingdom Achievers Educational Programme (KAEP)

The Kingdom Achievers Educational Programme is an ACPWT Education Initiative which supports, encourages and equips students/individuals from diverse communities to excel academically and professionally through various activities such as workshops, seminars and One-on-One sessions on:Professional Development, Continuing Professional Development, Interview skills, writing effective CVs, Personal and Supporting Statements, Raising Student Achievements, Providing support in completing undergraduate and post-graduate forms, Parent Educational Support. This initiative is impacting many lives wherein a number of our young people are now attending University, skill sets have been developed, improved upon; individuals are maximizing their potential/ability in various field of study. All sessions were done via Zoom during the year in review.

Our Education and Academic Committee consists of members who are academically qualified to Doctorate level and other expertise and professionals who volunteer and dedicate their time and service to the church charity. With the help and support of these committed members who volunteer their time and talent, the Charity continues to achieve its objectives.

Financial and Budget Management

Teaching and lectures are provided to teach people personal financial and budget management on how to effectively manage their finances, prioritise and set SMART goals and achieve objectives. Qualified professionals within the Charity teach others on how to achieve their goals and be successful in their career path. We continue to receive feedback and testimonies from individuals whose lives have been positively transformed. These sessions were provided via Zoom during the year in the review.

ARK OF THE COVENANT PRAYER AND WORSHIP TABERNACLE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 OCTOBER 2020 Company Number 06719936 Registered Charity Number 1145105

Marriage Seminar

A Biblical Framework for building families and healthy society – Advice and counselling were provided via Zoom during the year in review.

Thanksgiving Service

This year’s Thanksgiving Service which is not limited to members of ACPWT but is open to members of the community, was held via Zoom during the year in review. Members and their families, wellwishers and supporters of the Ministry all fellowship together via Zoom, giving God thanks and praise for His mercies, grace and protection, more so during the pandemic.

Our church leaders and Senior Pastor Rev. Donna Davis worked cohesively and tirelessly to support and hold the congregation together, by having various sessions, meetings, counselling and fellowship online and via Zoom, as communal worship was prohibited during the pandemic. This strengthens the congregation and assured the church that everyone is known and loved individually by God.

Family Away Day

This annual family outing gives members, families and supporters of the Ministry the opportunity to spend some time together away from the hustle and bustle of daily life. It helps families including our children and young people to bond. This event was cancelled during the coronavirus pandemic.

Retreats

This event gives everyone an opportunity to participate in prayer walks, workshops and to integrate. It helps to build cohesiveness, sharpen the spiritual development of the church members, families, friends and well-wishers. It also helps to increase spiritual development and has also increased the spiritual atmosphere in our worship. This has become a well anticipated event for members and non-members including our children and young people. This annual event was cancelled during the year in review due to the Covid-19 pandemic.

Other Outreach Events/Programmes - (Local and Overseas)

It remains as part of our mission - Our Mission and Evangelism Team goes out regularly to evangelise and win souls in a variety of locations across London, including shopping centres and streets. The church continues to reach further in the fulfilment of its divine mandate in touching many lives across nations. This programme was put on hold during the year in review.

ARK OF THE COVENANT PRAYER AND WORSHIP TABERNACLE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 OCTOBER 2020 Company Number 06719936 Registered Charity Number 1145105

Other Outreach Events/Programmes - (Local and Overseas) Cont’d

The Charity and its Missionaries outreach overseas, however, this was placed on hold during the year in review.

In the UK and our local community, we continue to provide prayer sessions, residential and hospital visitations to those who are ‘shut-in’, sick and to those who are unable to attend worship. Some of the activities were restricted due to the coronavirus pandemic, whilst others were conducted online and via Zoom, during the year in review.

Children and Young People Forum/Ministry

Our children and young people are integral to the Ministry. As communal worship was prohibited during the pandemic, our weekly Sunday School sessions were conducted via Zoom.. We continue to see significant improvement and achievement in their academic reports and performance. Weekly Sunday schools are provided by our qualified teachers which enable our children and young people to gain core knowledge in Religious Studies. We also hold frequent youth meetings/forum for teenagers and young adults who are active in the church. They are given a platform to showcase their talents, skills and ability in a larger audience on a monthly basis. This is a great driver for them, it enables and motivates them to learn, grow, develop and pursue their goals. These forums also help develop their talents, confidence, self esteem and improve their academic achievements. It helps them integrate better in the wider community. Parents continue to give positive feedback and expressed their gratitude. We are now seeing a significant increase in the number of our young people attending university. Additionally, some have now graduated and are advancing to Masters / Doctorate level.

ARK OF THE COVENANT PRAYER AND WORSHIP TABERNACLE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 OCTOBER 2020 Company Number 06719936 Registered Charity Number 1145105

Conventions, Retreats and Leadership Seminars

These are held annually to develop and enhance leadership skills in individuals and to train those in leadership to fulfil their potential and achieve their goals. The convention is held annually, whilst Retreats and leadership seminars are held twice annually to develop and enhance the spiritual alertness of the members and leaders in the Ministry. These were cancelled during the year in review., due to Covid 19 pandemic.

TV Evangelism

Our Television Ministry continues to impact many people’s lives, locally and internationally. Programmes are aired weekly and many people have visited the Church and some come to know Jesus Christ through this medium. It has helped the numerical and spiritual growth of the church. We are also active on social media channels. The pastoral teaching, anointing, wisdom, grace, care and love displayed by our Senior Pastor – Rev. Donna Davis is impacting many lives from diverse communities in the country and across the globe. Positive feedback from viewers confirms that individuals and families are positively impacted as we bring the message of hope, healing, salvation and deliverance both locally and internationally.

Shuttle/Bus Service

The Church’s shuttle bus service continues to be a great help to get members, families, partners and supporters of the Ministry to church. The bus/shuttle service covers these areas: South London, Stratford, Ilford, Barkingside and Dagenham. This enables members and families who do not have their own transport means and those who are financially unable, to attend church services. It also helps to reduce transport challenges for those wishing to attend church services. Much appreciation is expressed for this service. This service was cancelled during the year in review, due to Covid-19.

Growth

The church does not exist in and for itself. It is the vehicle to lead and manage the people of God through discipleship, evangelism, missions, spiritual growth and other programs all pointed to His Glory and worship. Additionally, our activities are available to members and non-members.

The church continues to grow from strength to strength and numerically. As a result of such growth two services are held on Sundays with the continuation of our weekly Bible Study and Prayer Services. This is as a result of our leadership passion for the Great Commission, their commitment and willingness to outreach communities and the leading and direction of God’s Holy Spirit. The church programmes and activities are well attended and God continues to add new members. Our online and Zoom sessions/fellowship were well attended during the year in the review and we have seen an increase in membership due to our virtual services.

ARK OF THE COVENANT PRAYER AND WORSHIP TABERNACLE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 OCTOBER 2020 Company Number 06719936 Registered Charity Number 1145105

Church Management Office

As part of Pastoral care and in order to meet and facilitate the needs of the growing congregation – members and their families, partners and supporters of the Church Charity, our Senior Pastor and Ministers attend to the spiritual well-being of members by providing counselling/advice from this office. This office also manages some of the church’s administrative work.

FUTURE DEVELOPMENTS/PLANS FOR THE FUTURE

Our theme is “THE GREATER HARVEST”; I will make you exceedingly fruitful and “I will make nations of you and kings shall come from you” – Genesis 17:7. This is in furtherance of our Mandate of the Gospel – The Great Commission. This is our guiding vision.

A summary of the result of the Ark of the Covenant Prayer and Worship Tabernacle activities during the period are given in the Statement of Financial Activities on page 9. Total income of the charity amounted to £ 213,646 from regular Sunday tithes and offering. It still remains the number one priority of the charity to obtain a permanent place of worship either through a longer term rental contract or an outright purchase via a mortgage. The size of the present church premises creates availability of bigger rooms for children and young people activities, children’s Sunday school programmes and other activities in pursuance of its charitable aims.

The Church is still committed to owning its own building and as such the Building committee is empowered to look for permanent place of worship of our own. The Church continues to raise funds annually for the building fund which is restricted for the purposes of the building.

VOLUNTEERS

ACPWT thrives on the energy and willingness of its volunteers who continue to engage with enthusiasm and commitment to the vision and work of the church. They are central to the ethos and operations of the Charity. They donate their time, expertise and equipment to implement programmes and to provide other services.

The church is very grateful for this generosity. The financial value of this generosity has neither been calculated nor included in the financial statements because it is difficult to quantify these in monetary terms. We continue to see an increase in more people giving their time for the work of God which is very encouraging and motivating to the leadership of the Church.

The Board of Trustees and the Pastorate would like to express their gratitude to the church members and Volunteers for their generosity, selfless sacrifice of their time and talents towards the achievement of the objectives of the organisation.

ARK OF THE COVENANT PRAYER AND WORSHIP TABERNACLE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 OCTOBER 2020 Company Number 06719936 Registered Charity Number 1145105

FINANCIAL REVIEW

The book values of the assets held at the year end, in the opinion of the Board of Trustees, as stated in the financial statements. Also, in its opinion, adequate assets are available to fulfil the obligations of the charity.

Total resources expended in the year include a total cost of £185,233 - made up of direct charitable costs of £176,701 and governance cost of £6,200. The governance costs were mainly made up of Accountancy fees, and professional expenses and administration. The governance costs are approved by the Trustees.

The total fund at 31 October 2020 was £213,646 all of which were unrestricted funds which is the increase of 7.7% added to the unrestricted reserves.

RESERVES POLICY

Ark of the Covenant Prayer and Worship Tabernacle maintains unrestricted funds, which are the free reserves of the charity, at a level that is at least twelve months of committed expenditure, excluding direct charitable cost and other costs. Excess unrestricted funds, to the extent represented by liquid assets, will be used to meet recurrent operational costs, except where the Trustees consider that the funds should be retained for possible future projects

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

The Trustees make grants as an effective means of delivering support and assistance to other programmes that fit within the objectives of Ark of the Covenant Prayer and Worship Tabernacle, during the year under consideration, no grant was made.

ARK OF THE COVENANT PRAYER AND WORSHIP TABERNACLE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 OCTOBER 2020 Company Number 06719936 Registered Charity Number 1145105

STATEMENT OF TRUSTEES' RESPONSIBILITIES

Company law requires the directors, who are referred to here as 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:

The Trustees are responsible for keeping proper accounting records, which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

INDEPENDENT EXAMINERS

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 company's Independent Examiners are unaware, and

b) They have taken all the steps that they ought to have taken as Trustees in order to make themselves aware of any relevant information and to establish that the company's Independent Examiners are aware of that information.

By order of the Board of Trustees

............................................... Donna Davis Trustee

Date: ...1st.......Day of November 2021

ARK OF THE COVENANT PRAYER AND WORSHIP TABERNACLE INDEPENDENT EXAMINERS' REPORT FOR THE YEAR ENDED 31 OCTOBER 2020 Company Number 06719936 Registered Charity Number 1145105

We have examined the financial statements on pages 9 to 14 for the year ended 31 October 2020 which comprises the statement of financial activities, the balance sheet and the related notes. These financial statements have 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 auditors

The Trustees, some of which are also the directors, 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:

  1. to examine the books and accounts of the charity in compliance with Section 43 of the 1993 Act;

  2. to strictly adhere to the general directions provided by the Charity Commission under Section 43(7)(b) of the Charities Act 1993; and

  3. 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.

ARK OF THE COVENANT PRAYER AND WORSHIP TABERNACLE INDEPENDENT EXAMINERS' REPORT FOR THE YEAR ENDED 31 OCTOBER 2020 Company Number 06719936 Registered Charity Number 1145105

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:

  1. Keeping proper accounting records in accordance with Section 386 and 387 of the Companies Act 2006.

  2. 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.

  3. Consistency of the information contained in the Trustees Report with the financial statements.

........................................................................ Date: 1st Day of......November......2020

Jacob Manu & Co

Chartered Certified Accountants

ARK OF THE COVENANT PRAYER AND WORSHIP TABERNACLE STATEMENT OF FINANCIAL ACTIVITIES (SOFA) (INCLUDING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 OCTOBER 2020


INCOMING RESOURCES
Voluntary income
Donations
Activities for Generating Funds
Special fund raising
Other incoming resources
Gift Aids
Grant- CJRS
Total incoming resources
RESOURCES EXPENDED
Charitable activities:
(Costs of activities in furtherance
of the objects of the charity)
Direct costs
Governance costs
Depreciation
Total resources expended
Net movement in funds for the period
Balance brought forward
Total Funds as at 31 October 2020		 Unrestricted 2020 2019
Funds Total Total
£ £ £
213,646 213,646 198,195
-
- -
0
0 50,920
17,498 17,498
231,144231,144249,115
176,701 176,701
205,335
6,200 6,200 10,897
2,332 2,332 2,332
185,233 185,233218,564
45,911 45,911 30,551
130,372 130,372 99,821
176,283 176,283 130,372
176,283 176,283 130,372

All of the above results are derived from continuing activities. All gains and losses recognised in the period are included in the above.

The notes on pages 14 to 17 form part of these financial statements.

ARK OF THE COVENANT PRAYER AND WORSHIP TABERNACLE ARK OF THE COVENANT PRAYER AND WORSHIP TABERNACLE
BALANCE SHEET
FOR THE YEAR ENDED 31 OCTOBER 2020
2020 2019
Notes £ £
FIXED ASSETS
Tangible assets 35,925 38,257
Current assets
Cash at bank and in hand 193,158 93,075
Creditors: amounts falling due
Within one year 2,800 960
Net current assets 190,358 92,115
Creditors: amounts falling due after
more than one year
 50,000
Net assets 176,283 130,372
Funds
Unrestricted funds 176,283 130,372

The directors/trustees are satisfied that the company is entitled to exemption from the requirements to obtain an audit under section 477 of the Companies Act 2006.

Members have not required the company to have an audit in accordance with s476 of the Act.

The directors/trustees 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.

............................................... Donna Davis Director/Trustee

Date: .......01/11/2021..............................

ARK OF THE COVENANT PRAYER AND WORSHIP TABERNACLE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2020

1. Principal accounting policies

The following accounting policies have been applied in dealing with items which are considered material in relation to the charity's financial statements.

Basis of preparation

The financial statements have been prepared under the historical cost convention and in accordance with the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities" (revised 2005), Companies Act 2006 and applicable Accounting Standards.

Funds

General funds are unrestricted funds available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. There are no restricted funds.

Tangible fixed assets

Tangible fixed assets are stated at their purchase price, together with any incidental expenses of acquisition. Depreciation is provided on all tangible fixed assets, when they are brought into use more than six months , at rates calculated to write off the cost on a straight line basis over their expected useful economic lives as follows: Motor Car 10% Straight Line Music Equipments, 10 % Straight Line

Incoming resources

Voluntary income, comprising donations in the form of regular offerings and tithes, provides core funding. This is recognised where there is entitlement, certainty of receipt and the amount can be measured with sufficient reliability. The value of services provided by volunteers is not incorporated into these financial statements. Further details of the contributions made by volunteers can be found in the Trustees' Report.

Resources expended

Expenditure is recognised on an accruals basis as liability is incurred. Charitable income and expenditure is allocated to the respective activities and any shortfall is funded from unrestricted funds.

Resources expended - continued

Direct costs comprise those costs incurred by the charity in the delivery of its activities. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Governance costs include those costs associated with meeting the constitutional and legal requirements of the charity.

Irrecoverable VAT is charged against the category of resources expended for which it was incurred.

ARK OF THE COVENANT PRAYER AND WORSHIP TABERNACLE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2020

2. Emoluments to the Trustees

No emoluments were paid to the Trustees. The Trustees however, are reimbursed for expenses incurred by them in the course of their duties.

3. Employee information

The average number of employees during the period under review is nil.

4. Voluntary income

  1. Voluntary income 2020 2019 Unrestricted Unrestricted Fund Funds £ Donations 213,646 198,195

5. Governance costs

The governance costs of the charity consisted of the following costs:

2020 2019 £ £ Professional fees 6,200 10,897

6. Net incoming resources

The net incoming resources are stated after charging the following costs:

Depreciation £2,332

ARK OF THE COVENANT PRAYER AND WORSHIP TABERNACLE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2020

7. Tangible fixed assets

All assets are held for charitable purposes

Motor Vehicle Musical
/VAN Equipment Furniture Total
Cost £ £ £ £
Balances b/f 10,370 16,951 23,000 50.321
23,321
Additions - _
At 31/10/2020 10,370 16,951 23,000 50,321
Accumulated depreciation
01/11/2019 2,884 9,180 0 12,064
Charge for the year 637 1,695 0 2,332
3,521 10,875 0 14,396
Net Book Value 6,849 6,076 23,000 35,925
At 31/10/2020
2020 2019
8.Creditors due within 1 year
Accountancy fee
 £960
Sundry £2,800

9. Taxation

The company is a registered charity and is not liable to corporation tax on its Charitable Activities.

10. Related party transactions

Other than donations and funds received there were no transactions with related parties during the period.

ARK OF THE COVENANT PRAYER AND WORSHIP TABERNACLE INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 OCTOBER 2020

INCOME
Donations
Grant-JRCS
Gift Aids
Total Income
EXPENDITURE
Rent/Rates/Hall Hire
Outreach
Hospitality
Professional fees
Ministerial stipends
Ministerial/ Mission
Convention
Van hire
Printing
Telephone and internet
Postage, Stationery/Software
Repairs/Maintenance/Insuranc
e
Books/Library
Thanksgiving Celebration
Christmas Celebration
Easter celebration
TV Broadcast/Media
Travel and Motor expenses
Light and heat
Building security
Sundries
Musicians
Depreciation
TOTAL
SURPLUS		 2020
2019
£
£
213,646
198,195
17,498
0
0
50,920
231,144
249,115
28,741
33,741
4,102
6,115
8,880
4,265
6,200
10,897
41,250
40,431
30,222
49,931
2,001
6,690
1,710
1,650
2,900
3,140
3,230
2,892
3,190
4,046
2,010
4,567
2,203
905
3,232
6,000
5,520
3,750
2,000
2,000
15,369
12,912
3,301
5,648
5,050
4,736
3,980
3,980
5,360
5,376
2,450
2,560
2,332
2,332
185,233
218,564
45,911
30,551