iharity number.. 1145139 Presbytertsn Church of Ghana Anolnted Congregation UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31112r2023 Prepared 8y: 70 Anna*e Road RM15 5BZ
Presbyterfan Church of Ghana Anolnted Congregauon FINANCIAL STATEMENTS FOR THE YEAR ENDED 31112R023 TRUSTEES CharfÈs Ayim MarkApe8 Boatsng Phyllis Anang Dr Yaw Oh8ne-Abuakwa Martin Owusu Helena Konadu Rose Mann Boy8- Do8 Nana Yaw Obeno Ampomah REGISTERED OFFICE 64 Lambert Road London SW16 5BJ CHARITY NUMBER 1145139 ACCOUNTANTS AL Accountants 70 Annalee Road South Ockendon RM15 58Z
Prnsbyterian Churth of Ghana Anolntod Congregallon ACCOUNTS FOR THE YEAR ENDED 3111212023 CONTENTS Paae Report ofthe Trustees Indepelldent Examinerfs Statement st2tement ol Financ4al Activiti85 Ba18nce Sheet 10 Notes to th8 Accourkts 11 to 16 Detsiled Statsment of Finala1 Activth•s 14
P$byteran Church of Ghana Anolnted congregation FOR THE YEAR ENDED 3111212023 TRUSTEES. REPORT TRUSTeES ANNUAL REPORT YEAR ENDED 31 DECEMBER 2023 The Ttustee5 present their annal rep(wl aThJ the irnlepeThlgntty examinwl finanaal atèmènts forthe year ended 31 Drnber 2023. The financial st8teTn8nts current statutory Wuirenl% tho PCG Cortstilllb. aPIebIe ACcnIng Standards in the United Klngdom, the Statsment of R0mMended Pracce'Charities SORP IFRS 1021, eifeuNÈ 1 January 2015 and th8 Charitie5 Ad 2011. STATUS AND ADMINISTRATION Ghanamma was rogi8terod th the Charity Commission as a drIty on 19 DeLr2011 l¢h81ity rggistration number 111451391. The name was change(J to P$byterian Church ofGhana Ar¥inted Congr&J81K)n on 20th S•ptèmber2021 at the Charity Commission's website, PRINCIPAL ACTIVITY OBJECTIVES The main objectives of the Church are to advance the Christian religk)n. ethK3. bJe8ls arKI prin(ipk¥ ofthè Prèsbytèrfan Church. To promot8 8nd enhan¢ the quality of th8 StMTitual Irt8 of members crfthe Church through bit studies, tea(iros and discussions. The Trust88s r9ferto th8 Charitss Commis5K)n's gum1as on FKoViSi of banefft as tst guHYè aThJ practice to folk)w. The advancement of relIgn is a recognwd Charitab puFp05e. STRUCTURE GOVERNANCE AND %IANAGEMEKr The charty is g)vemed by rts cOrtitutIon adopted on 24 Au9USt 1995 The Board of Trustees m8nag8 th8 affairs ofth& charity are resFonsible kn tkng Ihe strategic directlon and sx)Ilcies of the charty. Th8 Trustses ar8 elacted from Ihe cr)rMJr¢gal)n by Ihe enti rrembership of Ihe Ch&r¢h through a seuet ball They serve for a period of four years and eligitAe for re-electK)n tDr another ftxjr-year te Thg Trustees control and rnanage the day-ldaY aCtivrts Of Church. In 5eleGting indNiduals for appointrnent as caritytrustee8. th9 chlty twslees must have regard to the sk¢ll$. kJy)vAedge and experience
Presbyterian Church of Ghana Anointed Congr•gation FOR THE YEAR ENDED 3111212023 TRUSTEES. REPORT n88d$d forthe gffectivg adrninistralon ofthe rarity. TEUStees meet orKe a month to (115sS all r818vant matt8ts. Wn fequsred, an emergency meelng can te called outwde these sch&Juled meeb"ng5. RISK MANAGEMENT The Board ol Twstees has conducted a review ol the major risks to whKh the charity is exrmwd. Th8 trustaès racognise that any tnajor risks to which the charity 15 exposed need to be eWed ar¥J SYSter put tn iD them in partiuJkr1t¥)se rdated to the operats.ons and finances of the charty. Significant 8xi8mal risks to lunding hav8 b8d th8 Bcérd of Trusltès to implèment a p)Iw, taking into aCtsn( the level of incDmo receivable rrom various sources. to seek each yeai. to match income aThJ expendknre aThJ 10 avotrj &oJmuktiThJ a delh sut that PCG Anointed COnggatiOn is able to COThtinuè its operations 5uccessfvlly. Intemal risks are minimised by the implemwhtali)n of pldureS the auth1$0() of811 and proj8(IS by ensuring a consistent quality of delivery for all operational aspgct ol the ¢harity. Fw(KJure5 arp perKKliGaty rEvwEd to erw¥e thatthey wol ffEet the needs ofthe tharity- FINANCIAL REVIEW The charity h88 no material investments th the excepts£ ofthe pr(wrty rK)rmalty used as a m8rBe. The rnain sources of funds for the Church are offertories, dues. tithes. thar*sgving an¢J annual harvests from nrnberS during Sunday seEVi. Details ofthe Church's ffn8naal activits88 for Ihe year aThJ Ihe state d affays as at 31 Drnber 2023 are set on pag88 9 to 15 The Church made a surplus of £36.66912022.. £88541. This inNease in surplus from prevK)us year was due to Grft AIJ aalms 01£4448812022-£72C6)from F¥ewTh?u8 fwryears.
Presbyierlan Church of Ghana Anointsd Congwatlon FOR THE YEAR ENDED 3111212023 TRUSTEES. REPORT RESERVE POLICY The Board ofTrustèès has 8X8nun8d th8 charity% wuir8Thntfor I858& In l¥Jhl of th8 main risk to the charity. It has established a policy WhebY the unresthcted fvThJs heid by the eharty St¥JJlJ be 6 fmnths of forthcomiThJ unavoidable operational expenditure. The reserves are needed to rneet the workiTrJ capitsl requirements of th8 tharity thè truste8s ara confident that 8t this18vel th8y would be ab to txmtiThJe the current adNthes of the tharrty in the event of 8 signnlcant dro? in income. The effective free re5erwe ss £.525448.. which equates more than 6 I[th5 of expeded luture operdtiny eXpend[tU whi¢h 18 above the level detem)ined by the p)Iy. The Tru8t8e$. haviry assessed the finanrAal $ation (x)nd[hJ thatthg Church ha8 •18(wate r88oufr for its Purp and arè ofthe opinv)n that it will continue in bu5ines5 a5 8 wng They Iwve cthswjered vrtthertr are any mai)r risks to which the Church may be oJrrenUy expos8d and ar8 ofthe Opin that •Xi5t FUTURE PLANS Our future plans for the Church are.. l. To identify suitabl8 worship pr8mises to purth888. ii. Increase in Churth membership through v8rnus forn)s of &varvJelism. iii. Revitalize the Young P8orAes Guikl (YPGI of the 0regatI. w. To build a wbrant Church and knarKial rewJrL¥$ to en8ble US7AY)r5hip and provKle community actiwti8s. STATE OF TRUSTEES RESPONSIBIUTIES The Trustees are resFwJnsible lor p3rj Ihe trusts8s' reFQrt and Ihe finanoal Statements in Ndanc6 vAth applkable law United lfjngdom AcCnIn9 Stsndafds (United KInj0 Generalty Apted AcoyJntit¥J Practice). Th& law appl¢able to tharitE5 in Engnd and Wales requires the charity trustees to pr&w financal stalèmetts fot eath year, which glve a (rue and fair eW of the stale of affairs of the Chanty and the incomiThJ rewJfc8s applicalM of resources. indudlng the inc•)me expenditure, ft)r that period. In preparing thèsé fin8naal ststernents. the tnjstees a requir*J to: - S8ct suitable accountiw poliaes aThJ aPYIhern consstsnuy. - observe the m8thc%ls and prin0p in th8 aprlicabie chare$ SORP.-
Presbyterian Chureh of Ghana Anointed Conorngatlon FOR THE YEAR ENDED 3111212023 TRUSTEES. REPORT - make judgmènts and accountsivJ estimates that are reasonable and prudèn¢ - prepare the financpl ststements on the going Cor trAsis unle55 it is inapKryriate to presuNE that the charity wll oxtinue in businèss. The Trustees are reswnsible for keeping adequate accounting rstha1 are 10 slthv and eXaIn tr transactions and disdose vAth reasoAable accuracy at any tirne the financial p0SOn ofthe charity and en2e them io ersure that the finarKial stst8m8nts comply with the app1Kae law and regulations. Th8y are also [M)nb]e safeguardir#J the assets and henr forlaklng rÈasoThab 8t8F6 for the prevention detectk)n of fraud and other irreguL91iUes. Signed on behalfof the Trustees. Mr Charles Anim Senior PresbyterrUstee 5th May 2024
Presbyterlan Chh of Ghana Anolnted CoThgregatlon INOEPENDENT EXAMINER'S STATEMENT year ended 31 nJ 2023 INDEPÈNDENT EXAMINERS REPORT TO THE TRUSTEES OF PRESBYTERiAN CHURCH OF GHANA ANOINTED CONGREGATION I report on the accounts of the charity for the year ended 3111212023 RESPECTIVE RESPONS181LITIES OF TRUSTEES AND EXAMINER The trustees are responsible for the preparation of the acc4xJnts. The tnJste8s wnsiderthat an audit is r¥)t required for thi5 year under section 144121 of the Charib'es Act 2011 (the 2011 Actl and that an Indepeellt exarninatx)n ts eded. . Having 5atisfK8d mys8ff that th8 charity 18 [1 subJ8CttO 8n audit under c3Jrnpany law and elNJibl8 for indepeTrdeTht tsxamination, it is my responsibility to.. - 8xamine th& accounts under section 14S ofthe 2011 Art. - follow the procedure5 laid dlywn in the general Diredws gNen by Ihe Chanty COmrn10n urKJer setkn 14515Xbl of the 2011 Act,. an - stat8 whether particular matters have come to rny aUenliM_ BASIS OF INDEPENDENT EXAMINERS STATEMENT My 8xarninatK)n w85 carried out in 8cLx)rdance wilh gener Direclions gran by ts Charity CommKsgon. An gxarnin8tion includes a review of the accounting r8cords kept by the Chaty arKI a Comparis 01 th8 luTh pres8nt8d with Ihose r8crxds. It also includes considerabon of any unugJal [ten or dL%cktsu ui the acccrtmts. aFwJ Seeking explanatK)n5 frorn you as trustees ¢tsn¢ening any such matter5. Th8 proc8dure$ undertaken do not prowde all the evK1ence thathwhj t wuired in an audit nd consequentw no On)n is given as to whetherthe axthjnts wesent a Irue tsirvm and the report 15 limited to those matter5 set Olrt in the statement behy44. INDEPENDENT EXAMINERS STATEMENT In ¢onne¢tion with my examination, no rnatter ha$ ¥[rE to my attent•)n: 111 which gwes me reasonable cause lo belvèv8 that in any matsrial resr# the requirements.. . to keep acu¥Jnting raeords in accA)rdanc• wrth 386 ofthe Companies Act 20l.. and - to prepare acwjnts which accord with the ntir re(x)rts. mptyth the accountiThJ requirem8nts of *K)n 396 ofthe Companies Act 20( aThY wth rtKjS winLypkn ofthe Sl8tem8ntof R8CAynmerMJed practi." AxYjntig aryj Reporting by Charth"es p&Je 7
PresbylerSan ChurGh of Ghana Anointed Congre0 INDEPENDENT EXAMINER'S STATEM year ended 3111212023 121 to in my inion. attenth)n shoukj be dr8wn in ¢)Tdtrrto enablo a PTOFer undersknywj ofthe mInts to te rethj Date.. .Akwasi Adu-Larbi ACMA, CGMK Msc AL Accountsnts 70 Annae Road South Ock8ndon RM15 5BZ AL Ae.couKrANTS 70 Ro4d
Presbyterian Chur¢h of Ghana Anolnted congrtgon Statement of Flnanclal AcvIlle5 for y•ar ed 3111212023 2023 Totsl 2022 Total Unrestrfc Restr t•d fvnd$ d funds Income Income from generated funds Tithes,Off8rtori8s,Thanks9ivings gtc other trading acbvities IncA>me from Investments Total Incom& and endovmxnts 127.224 15.447 5.402 148,073 127,224 15.447 5.402 148.073 81,140 7,809 257 89,206 Exp¢ns•s Cost8 of generating funds Expenditure OTr Charitable aCtiVe$ Total Expenses Net gains on Investm*nts Net Income 111,404 111.404 111,404 80,352 111,404 80.352 31669 36.669 B,854 Galnslllos8esl on revalu8tlon of Ilxad a8805ts Net rnOV8rnent in fund5'. Net income for the yr Total funds brought forward Net tunds carrfed lornard 36,669 8,854 88,526 797,440 784,186 88.526 834,109 793,040 708,914 745.583 This statement ol financial activTbes includes all gains and h)sses re¢))gnis&J in the year. Wl inconE and expenditure derive from continuing aCtiVeS 389
Presbyterlan ChUh of Ghana Anolnted Congregaflon BALANCE SHEEf AT 3111212023 2023 2022 FIXED ASSETS Tangible assets CURRENT ASSErs Debtors (amounts falli due within orE ye8rl Cash at bank and in hand 437.504 448,233 30,815 594,541 625.356 30.815 553.667 584,482 4.400 CREDITORS: Amounts falllng du8 Wfthin ono year NET CURRENT ASSETS ToTALASSs LESS CURRENT LIABiullES 624.556 1.,060 580,082 1,028,315 CREDITORS.. Amounts falllng du8 after more than one year NET ASSETS 227,952 235,275 834.108 793.040 Accumulated Funds Unrèstricted funds General fund Designated funds R88trictad funds 735.046 694,840 10.536 9,674 88.526 88,526 834,108 793,040 Foi the year ending 31112r2023 the crnyny was ent8 to ex8mpthyTr un(krSlI)n 471 oflhè CornpanEs Aci 2006 rèlating to sm811 mpanieS. The members have Th)t wuiwd Ihe (x)mpany t* obtsén an in a(xX)n1an sectth 476 of the C[pan$ Act 20LK. The directors acknowledge Iheir responsibile$ for cOmplrJ with the requirements of th8 Act wtth re8Ct to a¢(x)unting records the ¥eparatn of accounts. These aCct$ have been prepar&Y in actrxdanc8 wrth the PT0ViS applic8bl8 to companies subj.ect to the srnall oynpanies regirne. Approvgd by the board of trustees on and slgn•d on their behaw by arbrs Owusu Trustee P8ge10
Pr•sbyterlan chh of Ghana Anointed Congmgatlon NOTES TO THE ACCOUNTS FOR ThE YEAR ENDED 3111212023 I. ACCOUNTING POLICIES 18. Basis OIA¢eountlng Th8 accounts have been prepared underthe historiLzI c05t convention. The a¢Unts have been prepa in rdance with FRS102- The Finarmial Standard applitsbK8 in tho UK and Republi¢ of Ireland and the Cornpanies Act 21K16 and the requirents of the Slatennt of R8(x)rnmeed PraGti(2. Accounbng and Reptyting by Charitses. 1b. Incoming Resourees All Incoming r8sources are indu¢Jed on the Stament of Fina Admties the drity is Wlly ¢ntitkd to the incJ)me and the amount can be quantified wrth reasonable accuracy. 1¢. Re$L)ur¢e$ Expended Expenditure is accounted for on an a¢rn8ls baws and h&8 dassified under headiros that a3regate all cc6t related to the category. Where ¢08ts cannot be direcuy attribuled to rtiCular h8adings they have b88n all¢xated to activitiÈs on a basis nsistent with the of r9¥our$. 1d. Allocatlon And Apportbonment Of Costs All costs rdats to Ihe single wityofthÈ charitatAe anY aThJ a¥e recc4Jni5ed xcordingty. 18. Fund Accountlng Unrestricted fjJTrds can be used fft ac¢cthr vrith thè (bariitib owbves d th& di£tY8kn of th8 trustees. Restri¢ted funds ¢aft only be used for particular reSIted wrpM)ses wthin the obied5 oftt tharity. Restrctiws arise when specified by the donor or when lunds are raised lor parliojlar westricted pUr{ses. Designated funds are funds set aside by the twste9S Out of unrestricted gerral fvnds fc¥ Ihe spe¢fft future or projects. 1f. D¢pre¢latlon Depreuation has been provhJ8d 81 the folk)wiThJ rates in order to writ8 off ets over Ihèir estimated uselul INes. Land And Buildings Straht ling over 50years Equipment raYu(aThJ balarKg 15% page11
Presbyterfan Church of Ghana ATholnt Congregation 2. TANGIBLE FIXED ASSErs Land And Bvlldlngs Ewlpment Total Cost At 0110112023 514.239 514,239 4.093 4.093 518.332 518,332 At 3111212023 Depre¢latlon At 0110112023 For the year At 3111212023 Not BoL>k Amounts At 3111212023 At 3111212022 1.136 70.099 10.729 80.828 10,285 79.24e 1,580 434,991 445.276 2,513 2.957 437,504 448.233 3, DEBTORS 2023 2022 ArUnts fallir#J due vthhin one ygar. Debtors 30.815 30,815 30,815 30,815 Loan-PCG Trinity Beioium Loan-Presbytery 815 30,(X)O CREDITORS: AMOUNTS FALLING DUE iyrtHIN ONE YEAR 2023 2022 Independent Examiner 8CK) 4,400 4,400 8(X) page12
Prtsbylerlan ChUh of Ghana Anotnted Congre9atlo 5. CREDITORS.. AMOUNTS FALLING DUE AFTER MORE ThAN ONE YEAR 21ra3 2022 B•nk108llS -IrtgJe 227.952 227,952 235.275 235,275 6. UNRESTRICTED FUNDS Brought Incornlng OutgolngTrnnsfws Carrfed forward General fund Designated FuThJ 699.240 146.130 1110.3241 9,674 1,942 {1,oeoi 708.914 148.072 1111.4041 735.046 10,536 745.582 7. RESTRICTED FUNDS rouoht lficomlng OutgolngTrnnsfers Carrled forward Buikliry Fund 88,526 88,526 88,526 88,526 8. RELATED PARTY TRANSACTIONS There w85 no related party trarctiOnS during Ihe year. p•Je 13
Prvsbytsrtan ChurGh of Ghana An0]nt Congrgg*i¢n Ineoming R¥s¢wr for the year ended 31112r2023 2023 2022 In¢¢)rniD9 resources In¢omlng resources from generated fvnds Off&rtories Tithes 16.566 51,886 912 15,093 36,457 931 Childr8n's off8rt0ry Thanks Offerfng Sundry Inrxjme Grft Aid Men Fellow8hip Women Fellowship Singlng Band Bible Studp$&Prayer Group Funeral Levy Presbytery Offertory DistriGt Offertory 4,811 2,376 7.206 1,432 416 428 12 740 1,230 870 215 122.829 70,167 Junior Youlh 414 175 Welfare Children's Day Pledge Evangelism Offertory Women's D8y Sale of Church Van Induction servic8S 110 204 PCGTV Young Adu Fellowship Anniversary Cbth Instrument Pleilg¥ 1.110 197 550 4,594 127,223 10,973 81,140 Furbth raising Events HaNest 15.lJ68 379 7,449 1£ Project Inrr 15,447 15,447 7,809 7,809 Investment Income Bank Intarèst 1B7 Building Fund 70 5,402 5.402 257 257 148.072 89,206 Page 14
Pre$barIan Church of Ghana Anolntsd ¢on9watlon Expenses for the year ended 3111212023 2023 2022 Expenses Costs of generating funds Charltsble Actlvltl•s Mini5ters's Stipend other Mirnisteriol Eynses Di$tri¢t Offertory Catechist Expenses Presbytery Ofrertory Printer 6.(X)O 3,741 131 4200 620 6,000 6.856 4,200 228 330 Sunday Teach9rs fee 10TH Anniversary 8xp8ns88 Hall and Church Hiring Coath Hire loo 1,217 13,748 2,825 463 13.375 Utility Bills Organist expenses Presbyters. 0)nfen$ Zoom èxp8r158S Drurnrner Expenses JY Camping PCG TV UK Sponsor Mission Surrort Sing Band Mortgage servicing Independent ExaMi¢S fee5 Women Fellctrtship Men Fallowship Young Adult Fellty¥ship Insurance Mortgage Applic2tion Mlssion House RehJrbi$hrnent Postage,printing & statnery Church visits and WeKare Council Tax 178 3.620 4,573 3(N) 80 1,000 352 1,5 2,175 giK) 536 17.179 5,OIKJ 17,785 800 10.823 800 352 450 75 472 3,141 213 3,100 3.500 342 Mobil ¢harges Internet & Sky Hospitality Eyn8es Donations Telèvision tharg8$ Christmas App10th)n Bank charges Trnvel & Accomtssatton Surndry &xpÈn5e5 Choir Bible Study and Prayer Group Mortgage Presbytery Manse Mi$fAon Support r¢¢eived over paNJ to Dk8trict Depreciatson 2,050 2,538 809 1,395 354 150 1.760 278 192 3.870 200 40 1.798 2(K) 10.729 873 10.807
111.404 80.352 111,404 80.352 prye15
Pre8byt•rfan Chur¢h of Gham Anointed Congregation for th• year onded 31112r2023 2023 2022 p&Je 16