Charity number: 1145139 Presbyterlan Church of Ghana Anolnted Congregatlon UNAUDITED ACCOUNTS FOR THE YEAR ENDED 3111212024 Prepared By: AL Accountants 11 Dudley Street Coventry CV6 7EE Presbyterian Church of Ghana Anointed Congregation FINANCIAL STATEMENTS FOR THE YEAR ENDED 3111212024 TRUSTEES Charfes Ayim Mark Apea Boateng Phyllis Anang Dr Yaw Ohene -Abuakwa Martin Owusu Helena Konadu Rose Mann Boye- Doe Nana Yaw Obeng Ampomah REGISTERED OFFICE 64 Lambert Road London SW16 5BJ CHARITY NUMBER 1145139 ACCOUNTANTS AL Accountants 11 Dudley Street Coventry CV6 7EE page 1 Presbyterlan Church of Ghana Anolntsd Congregation ACCOUNTS FOR THE YEAR ENDED 3111212024 CONTENTS Page Report of the Trustees Independent Examinerfs Statement Statement of Financial Activities Balance Sheet 10 Notes to the Accounts 12to18 Detailed Statement of Financial Activities 15 page 2 Presbyterian Church of Ghana Anointed Congregation FOR THE YEAR ENDED 3111212024 TRUSTEES. REPORT TRUSTEES ANNUAL REPORT YEAR ENDED 31 DECEMBER 2024 The Trustees present their annual report and the independenlly examined finanaal statements for the year ended 31 De￿rnber 2024. The financial statements comply with current statutory requirements, the PCG Constitution, applicable Accounting Standards in the United Kingdom, the Statement of Recommended Practi￿ 'Charities SORP (FRS 102), effective 1 January 2015 and the Charities Act 2011. STATUS AND ADMINISTRATION Ghanamma was registered with the Charity Commission as a charity on 19 December 2011 (charity registration number {1145139). The name was changed to Presbyterian Church of Ghana Anointed Congregation on 20th September 2021 at the Charity Commission's websile, PRINCIPAL ACTIVITY OBJECTIVES The main objectives of th6 Church are to advance the Christs'an religion, ethics, ideals and principles of the Presbyterian Church. To promote and enhance the quality of the spiritual life of members of the Church through bible studies, teachings and discussions. The Trustees refer to the Charities Commission's guidance on provision of public benefit as best gulde and practice to follow. The advancement of religion is a recognised charrtable purpose. STRUCTURE GOVERNANCE AND MANAGEMENT The charity is govemed by its constitution adopted on 24 August 1995 The Board of Trustees manage the affairs of the charity and are responsible for setting the strategic direction and policies of the charity. The Trustees are elected from the congregation by Ihe entire membership of the Church through a secret ballot. They serve for a period of four years and are eligible for re-election for another four-year temi. The Trustees control and manage the day-t(Hlay activities of the Church. In selecting individuals for appointment as charity trustees, the charty trustees must have regard to the skills, knowledge and experience page 3 Presbyterian Church of Ghana Anolnted Congregation FOR THE YEAR ENDED 3111212024 TRUSTEES. REPORT needed for the effective administration of the charity. Trustees meet once a month to discuss 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 lo which the charity is exposed. The trustees recognise that any major risks to which the chaiity is exposed need to be reviewed and syslems put in place to mitigate them in particular those related to the operations and finances of the charity. Significant external risks to funding have led the Board of Trustees to implement a policy, taking into account, the level of income receivable from various sources, to seek each year, to match income and expendTture and to avoid accumulating a deficit such that PCG Anointed congregation is able to continue its operations successfully. Intemal risks are minimised by the implementation of procedures for the authorisation of all transactions and projects and by ensuring a consistent quality of delivery for all operational aspect of the charity. These prO￿dureS are periodically reviewed to ensure that they will meet the needs of the charity. ACHIEVEMENTS To the glory of God, Anointed congregation allocated and purchased their own premises for worship, achieving a long-held slrategic goal. Anointed Congregation managed to complete the entire bible studies programme for 2024 in a Friday bible studies teachings which was held belween 8 and 9.30pm weekly. The congregants have expressed profound gratitude to the agents with and in charge for such through consistent teaching. These discussions brought at)out further cohesiveness within the church. Congregants have further expressed that the leaming has deepened their biblical and faith in their walk with Christ Jesus page 4 Presbyterian Church of Ghana Anointed Congregation FOR THE YEAR ENDED 3111212024 TRUSTEES. REPORT FINANCIAL REVIEW Th8 charity has no material investments with the exception of the propety normally used as a mansa. The main sources of funds for the Church are offertories, dues, tithes, thanksgiving and annual harvests from m8mbers during Sunday service8. Details of the Church's financial activities for the year and the state of affairs as at 31 December 2023 are set on pages 9 to 15 The Church made a loss of £8105(2023 surplus: £36669). This loss was due to various professional fees of £56083.for acquisition of the new property which was treated as revenue expenditure. This loss is one off and the church will revert to surplus iri the comming year. RESERVE POLICY The Board of Trustees has examined the charivs requirement for reserve in light of the main risk to the charity. It has established a policy whereby the unrestrrcted funds held by the charity should be 6 months of forthcoming unavoidable operational expenditure. The reserves are needed to meet the working capital requirements of the charity and the trustees are confident that at this level they would be able to continue th8 current activilies of the chartty in the event of a significant drop in income. The effective free reserve is £.225184.. which equates more than 6 mnths of expected future operating expenditure which is above the level detemiined by the policy. The Trustees, having assessed the financial sttuation concluded that the Church has adequate resources for its purpose and are of the opinion that it will continue in business as a going concem. They have also considered whether there are any major risks to which the Church may be currently exposed and are of the opinion that none exist. FUTURE PLANS Our future plans for the Church are: i Increase in Church membership through various fonns of evangelism. ii. Revitalize the Young People's Guild (YPG) of the COngreg￿lOn. page 5 Presbyterlan Church of Ghana Anointed Congregatlon FOR THE YEAR ENDED 31112r2024 TrUSTEES' REPORT iiii. To build 8 vibrant Churth and strong finsnaal r8wurcas to enable us wor3hip and providè Q3mmunty acttvibes. STATE OF TRUSTEES RESPONSIBIUTIES The Tnjstees are responsible for preparfng the trustees, report aThJ the financial statements In accordance with applicable law and United Kingdom Accounting Stsndards {United Kingdom Generally Accepted Aco)unllng Practi￿). The law applicabl8 to charities in England and W816s requires th8 charity trustees to prepare financial stat8rnents for 88ch y8ar, vthich gNe a true and fair view of the state of affairs of the tharity and the in(x)ming resources and application of resources, Includlng the income and expenditure, for that perlod. In preparing thes& financial 8tstements. the trustees are required to: - select 8Uitable accounting polici06 and then apply them consistenty; - observe the methods and prlnaples In the appllcable char￿88 SORP: - m* Judgments and accounllng ￿lMateS that are reasonable and prudent: - prepare the financial ststements on the golng concem basis unless it 18 inappropriate to pr68ume that the charity will continue in business. The Twste68 are responsible for keeping adequale accounting records that are sufficient to show and explain the charity's transactions and disdose with reasonable accuracy at any time the financial position of the charity arKI enable tham to onsure that the financial Statements comply wlth the applicable law and regulations. They are also responsible for safeguarding tho assets of the charity and hence for taking reasonable steps for the preventlon and detection of fraud and other irregularitles. Slgned on behalf of the Trustses. Nana Yaw Obeng Ampomah seCretary￿rUstee pag8 6 Presbyterlan Church of Ghana Anointed Congregation FOR THE YEAR ENDED 3111212024 TRUSTEES. REPORT BLANK PAGE page 7 Presbyterian Church of Ghana Anolnted Congregation INDEPENDENT EXAMINER'S STATEMENT year ended 3111212024 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 3111212024 RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER The trustees are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144(2) 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 company law and Is eligible for independent examination. it is my responsibility to: - examine the ac￿Unts under section 145 of the 2011 Act; - follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and - stste whether particular matters have come to my attention. BASIS OF INDEPENDENT EXAMINERS STATEMENT My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual ttems or disdosures in the ac(x)unts, 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 no opinion is given as to whether the accounts present a Irue and fair vie and the report is limited to those matters set out in the statement below. INDEPENDENT EXAMINERS STATEMENT In connection with my examination, no matter has come to my attention: (1 } which gives me reasonable cause to believe that in any material respect the requiremants: - to keep accounting records in accordance with section 386 of the Companies Act 2006; and - to prepare accounts which accord with the accounting records, comply wtth the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charilies page 8 Presbyterfan Church of Ghana Anointed Congr•gation INDEPENDENT EXAMINER'S STATEMENT year ended 3111212024 {2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to e reac ed Date.. Akwasi Adu-Larbi ACMA. CGMA,Msc AL Accountants 11 Dudley Street Coventry CV6 7EE AL Iiv.coupffANTS Prof•Mlon•l AccoJntant• & Tax Advl••rn yfj •.nnalg0 Road uth O¢k•nd¢n, RM10 IPZ page g Presbyterlan Church of Ghana Anolnted Congregation ststement of Financlal Activitles for the year ended 3111212024 2024 2023 Unrestr Restric Totsl Total iGted ted fvnds funds Income Income from generated funds Donations and legacies Other trading activities Income from Investments Total Income and endowments Expanses Costs of generating funds Expenditure on Charitsble activities Total Expenses Net galns on Investments Net Income 126.965 32,581 6,464 166,010 126,965 127,223 32,581 15,447 6,464 5.402 166,010 148,072 174.116 174,116 174,116 111,404 174,116 111,404 (8,106) (8.106) 36,668 Galnsl(Ioss88) on revaluatlon of flxed assests Net movement In funds: Nat Income for the year Totsl funds brought fomard Net funds carrled forward (8,106) 818.571 810,465 (8,106 36,668 818,571 797,440 - 810,465 834,108 This statement of financial activities indudes all gains and10&8es recognised in the year. All income and expenditure derive from continuing actiV￿.eS page 10 8AIAIICE sH￿rAT 31112M124 rA I 1J33,683 437.504 C•th al t•nk •TKI In hwMI 30,815 232.910 .725 30,815 $94,541 73,198 12&1,466 624,$56 1.CV(Y4J 834.108 Designa￿j fvnd8 798. 11159 10,536 For 31112r2024 lh6 clxn￿Y was lo WKIW 4T1 of I Conpknl•• 2[￿ ielallTha to 8mall ¢J%npanl88. th•lr Presbyterlan Church of Ghana Anointed Congregation NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 3111212024 1. ACCOUNTING POLICIES la. Basls Of Accounting The accounts have been prepared under the historical cost convention. The accounts have been prepared in accordance with FRS102 - The Financial Reporting Slandard applicable in the UK and Republic of Ireland and the Companies Act 2006 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities. 1 b. Incoming Resources All incoming resources are included on the Statement of Financtal Actlvltles when the charlty Is legally entitled to the income and the amount can be quantified with reasonable accuracy. 1c. Resources Expended Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where o)sts cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. 1d. Allocatlon And Apportlonment Of Costs All costs relate to the single activity of the charitsble company and are recognised accordingly. 1t. Fund Accountlng Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Designated funds are funds set aside by the trustees out of unrestricted general funds for the specific future purposes or projects. 1f. Depreclation Depreciation has been provided at the following rates in order to write off the assets over their estimated usoful livos. Land And Buildings Equipment straight line over 50years reducing balance 150 page 12 Presbyterian Church of Ghana Anolnted Congregation 2. TANGIBLE FIXED ASSETS Land And BulldingEqulpment Totsl Cost At 0110112024 Additions At 3111212024 Depreclatlon At 0110112024 At 3111212024 Net Book Amount8 At 3111212024 At 3111212023 514,239 906,821 1,421,060 4,093 518.332 906,821 4,093 1,425,153 89.533 89,533 1,957 91,490 1,957 91,490 1,331,527 424,70 2,136 1,333,663 2.136 426,842 3. DEBTORS 2024 2023 Amounts falling due within one year: Debtors 30,815 30,815 30,815 30,815 Loan-Presbytery PCG -Trinity Belgium 30000 815 4. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Loans from Church members and PCG Congregations Other creditors 329080 7776 336,856 6471 800 800 800 Mission Support Independent Examiner Presbytery Mortgage supplement Total other creditors 505 7776 page 13 Presbyterian Church of Ghana Anointed Congregation 5. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 2024 2023 Mortgage-Reliance Bank 450.000 227,952 450,000 227,952 6. UNRESTRICTED FUNDS Brough IncomlnOutgdmnsfer8 Carrlod t forwarg resou g resou forward rces rces General fvnd Women Fellowship Singing Band Men Fellowship Church Choir YPG YAF BSPG Kutunse Project Presbyters, Conference 806,091164,031171,817) 4,070 1,053 (150) (124) (464) 2,466 340 1,319 1,471 2,938 - 798,306 4,973 (588) 2,644 (295) 1,623 1,565 2,986 (155) 594 -810,465 178 (635) 304 (94) 48 208 (363) 594 174,117 818,571 186.01 7. RESTRICTED FUNDS Brough IncomlnOutgdmn$fors Carrled t forwar g resou g resou forward rcas 8. RELATED PARTY TRANSACTIONS There was an amount of £4200 paid to Dr Yaw Ohene Abuakwa, a trustse as the Catechist of the church. There was no hospitality expenses paid to any trustee during the year(2023 Nil) page 14 Presbyterian Church of Ghana Anolnted Congregatlon Incoming Resources for the year ended 3111212024 2024 2023 Incomlng resources Incoming r8sourc8s from g8n8rat8d funds Voluntary Contributions Offertories Tithes Children's offertory Thanks Offering Sundry Income Gift Aid Donations Men Fellowship Women Fellowship Bible Studies&Pray8r Group Funeral Levy Presbytery Offertory District Offertory 24,153 64,817 2,640 7,182 2,716 12,966 1,610 178 1,051 48 16,566 51,886 912 4,508 1,432 44.488 416 433 740 866 205 117,566 122,629 Junior Youth Welfare Induction serrfices PCG Young Adult Fellowship Anniversary Cloth Instrument Pledge JY Camping Choir Donations Presbyters. T shirts Presbytery T shirts Presbytery pledge Kutunse Project 81 1,042 414 1,080 443 1,110 197 800 550 198 300 304 3,890 418 522 208 7,347 4,594 RTC offertory 155 155 Seaside contribution PulpFt 520 1,375 1.895 126,963 127,223 Funds ralslng Events Harvest 1£ Project Income 32,171 410 15,068 379 32,581 32.581 15,447 15,447 Investment Income Bank Int*r?6t 6.129 0,402 Rate Reward 338 6,467 6,467 5,402 5,402 page 15 Presbyterian Church of Ghana Anointed Congregatlon Incoming Resources for the year ended 3111212024 2024 2023 166,011 148,072 page 16 Presbyterian Church of Ghana Anointed Congregatlon Expenses for tha year ended 3111212024 2024 2023 Expenses Costs of generating funds Charitable Activities Kutunse Project Havest Expenditure Ministers 's Stipend Redemption fee Other Ministerial Expenses District Offertory Catechist Expenses Presbytery Offertory Training Other District Expenses Printer Sunday Teachers fee 1 OTH Anniversary expenses Hall and Church Hiring Bank Interest Repairs and Maintenance Coach Hire Utility Bills Organist expenses Presbyters, conferences Zoom expenses Drummer Expenses JY Camping PCG TV Presbytery Cloth Delegate fees Mission Surport Sing Band Mortgage servicing Independent Examinerfs fees Women Fellowship Men Fellowship Young Adult Fellowship Insurance Mortgage Application Mission House Refurbishment Postage,printing & stationery Church visits and Welfare Council Tax Mobil charges Various Professional Fees-church Building Hospitality Expenses Donations Welfare 363 1,320 6,000 9,000 300 6,000 3,741 131 4,200 620 4,200 432 1,487 330 100 1,217 210 13,748 900 2,825 463 4,573 300 3,270 594 1,770 1,695 1,590 2,175 900 470 330 536 19,740 17,179 464 100 10,843 17,785 900 800 150 300 350 140 582 2,500 3,141 2,819 3,500 996 3,500 342 111 176 56,083 1,205 1,800 700 900 Christmas Appreciation Bank charges Travel & Accomodation Puilpit 2,538 809 1,395 1,078 1.127 1,370 page 17 Presbyterian Church of Ghana Anointed Congregatlon Expenses for the year ended 3111212024 2024 2023 Sundry expenses Choir Bible Study and Prayer Group Mortgage Presbytery Manse Mission Support retsived over paid to District Rent Harvest expenses Renovation Expenses- Church Building Presbytery Mortgage Repayment Men fellowship Depreciation 4,889 635 354 150 40 1,798 200 1.003 7.700 4.880 7,871 506 100 10,662 10.729 174,116 111.404 174,116 111,404 page 18