POWER OF GOD PENTECOSTAL CHURCH
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31[ST] MARCH 2024
CHARITY NUMBER: 1147309
POWER OF GOD PENTECOSTAL CHURCH 10 MARIGOLD PLACE CONNIBURROW MILTON KEYNES MK14 7AB
INDEX Page Index 1 Trustee’s Report 2-3 Independent Examiner’s Report 4 Receipts and Payments Account 5 Statement of Assets and Liabilities 6 Notes on the financial Statements 7
1
POWER OF GOD PENTECOSTAL CHURCH
TRUSTEES’ REPORT YEAR ENDED 31[ST] MARCH 2024
The trustees are pleased to present their report for the year ended 31[st] March 2024 for the charity, Power of God Pentecostal Church with charity number 1147309.
The Trustees of the charity are: Mr Philip Jones-Mensah
Pastor Michael Sarpong
The principal address of the charity is : 10 Marigold Place Conniburrow MK14 7AB
STRUCTURE, GOVERNANCE AND MANAGEMENT
The Charity governing document is a declaration of trust that was executed 30[th] April 2012.The Charity is governed by a board on which the trustees are represented. It meets regularly to review, plan activities and monitor the financial position.
OBJECTIVES AND ACTIVITIES
The Objects of the organisation are first to advance the Christian faith in accordance with the statement of beliefs for the benefit in the United Kingdom and in such other parts of the world as the trustees may think fit from time to time . The trustees confirm that they have had due regard to the guidance issued by the Charity Commission on public benefit before deciding what activities the charity should undertake.
ACHIEVMENTS AND PERFORMANCE
The Organisation continued to hold successful worship services through the year in which individuals were equipped and educated on the principles and doctrines of the Christian faith. The organisation continues to hold special worship services during the year in which individuals came from all around the community to attend. This proved to be very beneficial and enriching for all who attended.
2
FINANCIAL REVIEW
The income of the charity is above £40,000. The organisation is still in a good position to manage its costs. The main cost of the organisation was paying for the rent of its building that it uses for worship services and payments for the mini-bus for the organisation in the year.
.
RESERVE POLICY
It is the policy of the Charity to maintain unrestricted funds, which are the reserves of the charity at about 3 months of unrestricted expenditure.This provides sufficient funds to cover any emergency expenditures that may arise from time to time. The charity will seek to maintain this level throughout the year.
RISK MANAGEMENT
The charity have assessed all the major risks to which the charity is exposed to, in particular those related to operations and finances of the charity, and are satisfied that systems are in place to mitigate exposure to major risks.
TRUSTEE RESPONSIBILITIES
Under the Charities Act 2011,the trustees are required to prepare a statement of accounts for each accounting year which gives a true and fair view of the state of the church. They are required to:
-
Select suitable accounting policies and apply them consistently.
-
Make judgements and estimates that are reasonable and prudent.
-
State whether the applicable accounting standards have been followed.
-
Prepare financial statements on an ongoing basis.
They are responsible for keeping proper records which disclose with reasonable accuracy the finances of the church at any time and to ensure that such accounts comply with the Charities Act 1993.They also have a responsibility to safeguard the assets of the church and to take reasonable steps to detect fraud or other irregularities.
Approved by the Trustees on 10[th] May 2024 and signed on their behalf by:
3
Independent Examiner’s Report To the Trustees
POWER OF GOD PENTECOSTAL CHURCH
I report on the accounts of the church for the year ended 31[st ] March 2024 set out on the following pages which have been prepared on the basis of the accounting policies shown in the corresponding pages.
Respective responsibilities of trustees and examiner
The trustees of the church are responsible for the preparation of accounts: they consider that the audit requirement under section 144(2) of the Charities Act 2011 (the 2011 Act),does not apply. It is my responsibility to :
-
Examine the accounts under section 145 of the 2011 Act.
-
Follow the procedures laid down in the General Directions given by the Charity Commissioners made under section 145(5)(b) of the 2011 Act.
-
State whether particular matters have come to my attention.
Basis of Independent examiner’s report
My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the church and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts 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 I do not express an audit opinion on the view given by the accounts.
Independent examiner’s statement
In the course of my examination, no matter has come to my attention;
-
(1) which gives me reasonable cause to believe that, in any material aspect, the trustees have not met the requirements to ensure that:
-
proper accounting records are kept( in accordance with section 130 of the 2011 Act
-
accounts are prepared which agree with the accounting records and comply with the accounting requirements of the 2011 Act: or
-
(2) to which , in my opinion , attention should be drawn in order to enable a proper understanding of the accounts to be reached.
CHUKS AJUKA BSc(Man), FICB PMDip FRESH FIRE ORGANISATION South Lodge avenue Mitcham Surrey CR4 1LT
4
POWER OF GOD PENTECOSTAL CHURCH
ACCOUNTS FOR THE YEAR ENDED 31st March 2024
1 Receipts & Payments Account (General Purpose Fund)
| Income Receipts Tithes & Offerings Special donations Gift Aid Total Receipts Direct Chaitable Expenditure Welfare Hire of Hall Insurance Minibus expenses Refreshments Bank charges Repairs Supplies Donations Professional services Subscription Events Accounting services Total Other Expenditure Equipment Transport Instruments Total Payments Net Receipts/(Payments) for the year Cash Funds at start of year Cash Funds at the end of the year |
£ 2024 33113 0 6967 40080 13207 5880 325 1575 0 262 50 500 210 320 50 1250 852 _ 24481 1100 159 0 _ 1259 25740 14340 58347 _ 72687 _ |
£ 2023 20270 9065 5835 |
|---|---|---|
| 35170 | ||
| 11060 6000 479 159 460 251 930 1670 700 440 240 0 740 |
||
| ___ 23129 2094 0 0 |
||
| ___ 2094 25223 9947 48400 |
||
| _ 58347 _ |
5
POWER OF GOD PENTECOSTAL CHURCH
2 Statements of Assets and Liabilities at 31st March 2024
| Cash Funds Bank Total Cash Funds Assets Retained for the Charity's Own use Instruments Equipment Minibus Liabilities Accounting fee |
Unrestricted Funds 2024 £ 72687 _ 72687 _ 695 5450 3045 ___ 9190 170 |
2023 £ 58347 |
|---|---|---|
| ___ 58347 |
||
| ___ 869 5712 3806 |
||
| ___ 10387 170 |
Approved by the Trustees and signed on their behalf:
6
POWER OF GOD PENTECOSTAL CHURCH
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31st March 2024
ACCOUNTING POLICIES
Basis of Accounting
These accounts have been prepared on the receipts and payments basis under Charities Act 2011.
Funds
Unrestricted funds are those which can be used at the Trustees' discretion. Restricted Funds are those whose purposes have been restricted by the donor.
Staff
The organisation had no employees during the accounting year. All the work of the organisation was undertaken by volunteers during the financial year.
Depreciation
Depreciation is calculated at 20% reducing balance method for equipment, instruments and Mini bus.
7