Charity number. 1145139 Presbytsrlan Church of Ghana Anointed Congregation UNAUDrrED ACCOUNTS FOR THE YEAR ENDED 3111212022 Pr•par•d By: AL Acuntants 70 Annalee Road South Ockendon RM15 5BZ
Presbyterlan Church of Ghana Anolnted Congregation FINANCIAL STATEMENTS FOR THE YEAR ENDED 3111212022 TRUSTEES Chades Ayim Mark Apea Boateng Phyllis Anang Dr Yaw Ohene -Abuakwa Martin Owusu Helena Konadu Rose Mann Boye- Dog Nana Yaw Obeng Ampomah REGISTERED OFFICE 64 Lambert Road London SW16 SBJ CHARITY NUMBER 1145139 ACCOUNTANTS AL A¢¢ountant5 70 Annalee Road Soulh Ockendon RM15 5BZ page 1
Prosbyt•rian Church of Ghana Anointod Congregation ACCOUNTS FOR THE YEAR ENDED 3111212022 CONTENTS Page Report of the Trustees Independent Examiner's Statement Statement of Financial Activities Balance Sheet Notes lo the Accounts Detailed Statement of Financial Activitses 10 11to15 14 page 2
Presbyterlan Church of Ghana Anolnted Congregatlon FOR THE YEAR ENDED 31112r2022 TRUSTEES, REPORT TRUSTEES ANNUAL REPORT YEAR ENDED 31 DECEMBER 2022 The Twstees present their annual report arKI the independenty examined financial statements for the year ended 31 Dernber 2022. The financial ststements comply WTth current statutory requirements, the PCG constitUtn. applicable Accounting Standards in the United Kingdom. the Statement of Recommended Practi 'Charitss SORP (FRS 102). 8ff8CtiV8 1 January 2015 and the Charities Act 2011. STATUS AND ADMINISTRATION Ghanamrna was registered wtth the Chartty Commission as a charity on 19 December 2011 (charity registration number111451391. The name was changed to Presbyterian Church of Ghana Anointed Congregation on 201h September 2021 at the Charity Commission's Vbsite, PRINCIPAL ACTMTY OBJECTIVES The main objeclives of the Church are to advance the Christian religion, ethics. ealS and principles of the Presbyterian Church. To promote and enhan the qualty of the spiritual lrfe of members of the Church through bible studies. teachings and discussions. The Trustees refer to the Charities Commission's guidan on proWSn of public benefft as best guide and praclice to folk)w. The advancement of religion is a reccrfJnised chartlable purpw. STRUCTURE GOVERNANCE AND MANAGEMENT The charity is govemed by its constitution adopted on 24 August 1995 The Board ol Trustees manage the affairs of the charity and are responsible for setting the strategic direclion and policies of the charity. The Trustees a elected from the congregth.on by the entire membership of the Church through a secret ballot. They serve for a period of four years and a eligible for re-etection for another four-year tem. The Trustees control and manage the day-to-day activitses of the Church. In selecttng indivtduals for appointment as chanty trustees, the charty trustees must have regard to the skills, knowledge and experience page 3
Presbyterian Church of Ghana Anointed Congrogation FOR THE YEAR ENDED 3111212022 TRUSTEES. REPORT neéded for th8 effediv8 administration of the charity. Trustees meet onc8 a month to dlscjjss all relevant matters. When required. an emergency meeting can be called outside these scheduled meetings. RISK MANAGEMENT The Board of Trustees has conducted a review of the major risks to which the charity is exposed. The trustees recc4Jnise that any major risks to which the chaiity is exposed n88d to be r8vi8wed and systems put in rAace to them in particular those relatad to the operations and finan9 of the chartty. Significant 8xt8mal risks to funding hav8 led th8 Board of TrLSStees to implemenl a policy, taking into account, the level of income receivable from various sourG85, to séek each year. to match income and expenditure aThJ to avoid accumulating deficit such that PCG Anointed congregation is able to continue Its operatSons successfully. Intemal risks arè minimisad by the implamèntation of prrThdures for the authorisation of all transactions and prolects and by ensuring a consistent qualty of delivery for all operational asped of the charity. These proc•Jures are poriodically reviewed to ensure that they wlll me8t the need8 of the charity. FINANCIAL REVIEW The charity has no material investThnts with the exwtK)n of the property normally used as a manse. Th8 maln sourc88 ol fijnds lor th8 Church afe offertorles, du88. tlth8S. thanksglvlng and annual harvests from members during Sunday serrfices. Details of th8 Church's financial activtti8s for the year and Iha state of aff8irs as at 31 December 2022 are Set on pages 9 to 15 The Church made a surplus of £8854 (2021: £31039). Thls decrease in surplus from proViS y•ar was due to masslvo relurbishment of the manse at a 8t of £20223 which has been capitalised and has increased the value of the propety. RESERVE POLICY Th8 B08rd of Trusteès has èxamined Ihe charitys requirement for reserve in light of the main risk to the charity. It has established a policy whereby the unrestricied funds held by the charity should be 6 months of forthcoming unavoidable op8rational expenditure. The reserves are needed to meet the working capStal requirements of the chaiity and the trustees are nfident that at this level they would be able to continue the current activities of the charity in the event of a significant drop in incx)m8. page 4
Presbytorian ChurGh of Ghana Anointed Congregation FOR THE YEAR ENDED 31112r2022 TRUSTEES. REPORT The effeclive free reserve is £465,141 vthich equates rn0 than 6 months of expected fijture operating expenditure which is above the level detemiined by the policy. Th8 Trust88s, having assessed the financial stiualion concluded that the Churth has adequate r8sourc8s for its purpose and are of the opinion that it will continue in business as a going wncem. They have also ¢onsidere(I whether there are any major risks to which the Church may be currenUy exposed and are of the opinion that none 68t. FUTURE PLANS Our future plans for th8 Church are: i. To Id8nllfy suitable worship premises to purchase. li. Increase in Church membership through various forms of evangelism. ill. R8Vitalize the Young People'8 Guild (YPG) of the congregation. iv. To bulld a vSbrant Church and strong financial resources to enable us worshlp and provSd8 community activities. STATE OF TRUSTEES RESPONSIBILITIES The Trustees are responsible for prepariTr3 the trustees, report and the finanryal statsments in accordance with applicable law and Unlt6d Kingdom Accounting Standards (United Kingdom Genorally ACpted Ac(xJunting Prartice). The law applicable to chafiti88 in England and Wales requires the charity trustees to prepar8 fin8n¢lal 8tstements for each year, vthich give a true and fair view of the stats of affairs of the charity and the incomlng res<)urc8s and appllcat1 of resources, Indudlng th8 Income and expenditure, for that period. In preparing these finanrial ststements, th8 truste8s are required to: - 8818ct suit8ble accounting policies and then apply them consistenty, - observe the methods arKJ prinaples in the applicable Charitles SORP; - m8k8 judgments and accounting eslirnates that a Trasonable and prudent: - prepare the financial ststements on the going cx)ncem basis unless it is inappropriate to presum8 that the charity will continue in business. The Trustees are responsible for keeping adequate acroun*'ThJ records that are sufficient to show and explain the charitys transactions and disdosè with reasonable page 5
Presbyterian Church of Ghana Anointed Congrogation FOR THE YEAR ENDED 3111212022 TRUSTEES, REPORT accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the applicable law and regulations. They are also responsible for safeguarding the assets of the charity and hence for tsking reasonable steps for the prevention and detection of fraud and other irregularities. Signed on behalf of the Trustees. Mr Chades Ayim Senior presbYterrUStee 12th October 2023 page 6
Presbyterian Church of Ghana Anointed Congregation INDEPENDENT EXAMINER'S STATEMENT year ended 3111212022 INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES OF PRESBYfERIAN CHURCH OF GHANA ANOINTED CONGREGATION I report on the accounts of the charity for the year ended 3111212022 RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER The truslees are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 14412) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. . Having satisfied myself that the charity is not subject to an audit under MpanY law and 18 eligible for independent examination, tl 1$ my responsibility to- - examine the accounts under section 145 of the 2011 Act - follow the procedures laid down in the general Directions giv8n by the ChaTtty Commission under section 14515){bl of the 2011 Act. and - stale whether particular matters have come to my attention. BASIS OF INDEPENDENT EXAMINERS STATEMENT My examination was Garried out in accordance with general Dire¢tions grven by the Charity Commission. An examinaton includes a review of the accounting records kept by chartty and a comparison of the acwunts presenled with those records. It also indudes consideration of any unusual items or disdosures in the accounts. and seeknng explanations from you as trustees concEming any such matters. The procedures undertaken do not prowde all the evidence that woukl be required in an audtt and consequently no opinion is grven as to whether the accounts present a Irue and fair vi and the report is limtted to those matters set out in the statement behjw. INDEPENDENT EXAMINERS STATEMENT In connection with my examination, no matter has to my attention: (1) which gives me reasonable cause to believe that in any material respect the requirements: - to keep auntIng records in accordan with Secti( 386 of the Companies Act 2006", and - to prepare accounts which accord with the accounting records, CoMY with the accounting requirements of section 396 of the Companies Act 20C6 and wrth the methods and prinaples of the Statement of Recommended Practi. Accounting and Repx)rbng by Charities page 7
Presbyterian Church of Ghana Anointed Congrogation INDEPENDENT EXAMINER'S STATEMENT year ended 3111212022 {2} to which, in my opinion. attenlion should be drawn in order to enable a proper und8rstsnding of th8 accounts to b ed ate.. AWR'è8YA%W.' AL Accountanls 70 Annalee Road South Ockendon RM15 5BZ AL AVQOUPITANTS Prokntlono• Ic )dnt•ftts & TaxAdvl¥ ?¥ "rftnaige Ro•d 80tsth Oe•ndon. •ex RMi• •RZ page 8
Presbyterlan Church of Ghana Anolntod Congregatlon Statement of Flnanclal Actlvlties for the year ended 3111212022 2022 2021 Unrestr Restr1¢ Total Total lcted ted funds funds Ineome Income from generated funds Donations,Tithes.Offertories Thanksgivtngs etc Other trading activities Income from Investments Total Income and ondowmènts Expensos Costs of generating fijnds Expenditure on Charitsble acttvities Total Expenses Net gains on Investmonts Net Income Gainsl{106s•s) revaluation of fixed ass1¥ Net movement In funds: Net income for thg year 8.784 70 8,854 31,039 Total fvnds brought forward 695,730 88,456 784,186 763,157 Net funds rarried foThvard 704.514 88,526 793,040 794,196 This statement ot finanal aclivitses indude5 all gains aThJ losses re(x)gnised in the year. Al income and expenditure derive from continuing adivibes 81,141 7,809 81,141 94,807 7,809 6,5M 70 256 114 70 89,206 101.465 89,136 80,352 80.352 80,352 70,426 80,352 70,426 8,784 70 8.854 31,039
Presbyterfan Church of Ghana Anointed Congregatlon BALANCE SHEEf AT 31112r2022 2022 2021 FIXED ASSETS Tangible assets CURRENT ASSETS Debtors (amounts falling due within one y8ar) C88h al bank 8nd in hand 448,233 448.280 30,815 553,667 584.482 4.400 30,815 561.568 592,383 1.200 CREDITORS: Amounts falllng duo wlthln ono year NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILMES 580,082 1,028,315 591,183 1,039,463 CREDITORS: Amounts falllng duo after m¢)ro than on• year NET ASSETS Accumulatod Funds UnreStrl•d fund• General fund Designated funds R68trleted funds 235,275 245,267 793,040 794,196 694,840 9.674 88.526 793,040 For the year ending 3111212022 the company was 8nt6Jéd to exemptbn under section 477 of the Companies Act 2006 relaling to small mpanIeS. The members have not required the company to obtaln an audit in accordan with section 476 of the Companies Ad 2006. The directors acknowledge thelr réspon$lbllttles for complying with th8 requirements of the Act with respect to accounting records and the preparation of accounts. These accounts have been prepared in a¢Lx)rdance with the [810n$ applicable to companies Subject to the small companies regim8. Approved by the board of tru•tse8 on 1211012023 and •lgned on thelr bfrhalf by 696,070 9,670 88,456 794,196 Martin Owusu Trustee page10
Presbyterlan Church of Ghana Anolntod Congrggation NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 3111212022 1. ACCOUNTING POLICIES la. Basls Of Accountlng The accounts have been prepared under the historical o)st convenllon. The accounts have been prepared in accordance with FRS102 - Th8 Finanaal Reporting Standarrl applicable in the UK and Republic of Ireland and the Companies Act 2006 and the requiTrments of Ihe ststement of RemM6nded Practice, AGwunting and Rep)rting by Charities. 1 b. Incomlng R•$our¢ All incoming resources are included on the Statement of Financial Activities when the charity is legalty entitled lo the incom8 and the amount Gan be quantified with reasonable acoJra¢w. 1c. Ra8ourca• Expendod Expenditur&1$ 8eeounled for on an accruals basis and has been classified under headings that aggregate all Gost related to the Category. Where wsts cannot be directly attribut&J to partlcyJlar headlngs they have b8èn allocated to activities on a basis consistent wrth the use of resources. 1d. Allocatlon And Apportlonm•rrt 01 Costs Ail costs relate to the Single activity of the charitae wmpany and are reGognl8ed accordlngly. le. Fund Ac¢ountlng Unrestricled funds can be Lmd in accordance wlth the charitable obJ8thes at the dl8cretlon of Iho truslees. Restricted funds ¢8n only be used for paTticutar restricted purp08es within the objects of the ¢hartty. Restrlctlons arise when sp9¢ified by the donor or when fuTrJs are raised for particular re8trict8d purposes. Deslgnated funds arg funds set aside by th8 trustèès (xrt of Unrestric general fund8 for the gpecific fulure purposés or projects. 1f. D•pr•clatlon Depreciation has been provided at the folk)wing rates in ord8r to write off the assets OV8r their estimated useful lives. Land And Buildings Musical Instwment straight Ilne 15% reducin9 balance 15% page11
Presbyterfan Church of Ghana Anolnted Congregatlon 2. TANGIBLE FIXED ASSETS Land And Musical Buildingth8trum•nt Cos1 At 0110112022 Additions At 3111212022 Dgpreclatlon At 0110112022 For the year AI 3111212022 Net Book Amounts At 3111212022 At 3111212021 494.016 20,223 514.239 4.093 498,109 20,223 4,093 518,332 58.678 10.285 68,963 614 59,292 522 10,807 1,136 70,099 445.276 2,957 448.233 3. DE8TORS 2022 2021 Amounts falling due within one year. Loan - PCG Trinity-Belgium Loan: Pr8sbery 815 815 30,000 30,000 30815 30815 4. CREDITORS: AMOUNTS FALLING DUE wrrHIN ONE YEAR 2022 2021 Total creditor8 4,400 4.400 1,200 8ndent Examlner pago 12
Presbyterfan Church of Ghana Anolnted Congregatlon 5. CREDITORS: AMOUNTS FALLING DUE AFTER IAORE TrIAN ONE 2022 2021 Mortgage 235.275 245,267 235.275 245,267 6. UNRESTRICTED FUNDS Brough Incomlnoulgrfmnsfers Carried t forwar g resou g rosou forward rees rces General fund Designated fijnd 686.060 87,731 {78,951) 9.670 1.406 1.402 695,730 89,137 80,353 -694,840 9,674 -704,514 7. RESTRICTED FUNDS Brough IncomlnOulgdgJnsfers Carried t for4var g resou g resou forward rces rces Building Fund 88.456 88.456 70 70 88,526 88,526 8. RELATED PARTY TRANSACTIONS There was no rdated party transactions during the year. page 13
Presbyterlan Church of Ghana Anointad Congregalion Incomlng Resources for the yoar onded 3111212022 2022 Incoming resourcos Incomlng resources from generated funds Offertories Tilhes Children's offertory Thanks Offering Sundry Income Gift Aid Donations Men Fellowship Women Fellowship Singing Band Young Adult Fellowship YoLJng People's Guide Bible Studies&Prayer Grp Presbyters Conferem Funeral Levy Presbyiery Offertory District Offertory 15,093 36,457 932 4,811 2.375 7.206 14,397 50,865 432 1,840 782 23,396 910 310 740 61 210 260 224 480 428 12 58 1,230 870 215 70,167 94,807 Junior Youth Welfare Children's Day Pledge Evangelism Offertory Women's Day Sale of Church Van 175 298 110 204 9.500 10.973 81.140 94,807 Funds ralslng Events Harvest 1£ Projed Income 7.449 360 6,244 300 7.809 7,809 6,544 6,544 Investment Income Bank Interest Building Fund 187 70 114 257 257 89.206 114 114 101,465 page 14
Presbyterlan Church of Ghana ArInted Congregatlon Expen895 for the year end8d 31112r2022 2022 2021 Expenses Costs of generating funds Charitable Activities Ministers 's Stlpend Other Mini$terial Expenses Catechisl Expenses Presbytery Offertory Heat and light Hall and Church Hiring Utility Bills Organist expenses Zoom expenses Laptop Drumm8r Expenses Motor expense8 Misslon Surport Mortgage servicing Independent Examinels fe88 Women Fellowship Men Fellowship Young Adult Fellowship Insurance Postagè,prlnting & stationery Church vislts and Welfare Council Tax Intemel & Sky Hospilalily Expons88 Donations yOng Adult Fellowship Women Fellowship Television charges Repairs and Maintenance Chrlstmas Appreclation Bank charges Travel expenses Young People's Guide Church visits and welfare Sundry expenses Choir Presbyters conference Bible Study and Prayer Group Mortgage Presbytery Manse Deprecialion 6.iJ)o 5,800 4,200 228 4,200 13.375 178 3,620 7,810 809 650 2,611 7,162 8,068 1,200 3,050 1.000 352 5.000 10,823 800 352 450 75 472 213 3,100 1,653 790 146 2.050 445 1,045 1,767 597 3,220 3IXt 1,250 158 159 1.760 278 192 2,690 458 708 3,870 200 1.329 300 400 873 10,807 12,164 80.352 70,426 80.352 70,426 page 15