POWER CHAPEL WORLDWIDE TRUSTEES, REPORT AND FINANCIAL STATEMENT FOA THE YEAR ENDED 31 DECEAIBER 2020 CHARrrY REGISTERATKIN NUM8ER- 1148189 POWER CHAPEL WORLDWIDE Reference and Admlnlstrallve Information TRUSTEES enjamin Bio Geor8e Afrifah A8yekum Eugeneer Mensah-8onsu REGISTERED OFFICE 78 Pretoria Road London N18 ISP Edmonton CHARITY REGISTERED NUMBER 1148189 BANKERS HSBC AccouKfANrs Akins & Co POWER CHAPEL WORLDWIDE cotrirEKrs Pag9S Trustees, Report Accountant's Report Statement of Financial Activitles Balance Sheet Note5 to the Flnancial Statements POWER CHAPEL WORLDWIDE REPORT OF THE TRUSTEES. FOR THE YEAR ENDED 31 DECEMBER 2020 The trustees have the pleasure of submitting their trustee5 ann-al report and the financial statements for the year ended 31 December 2020. Revlew of Flnand•l Posltlon Please refer to the annexed accounts for the details of the Financial Statements for the year ended 31 Oecember 2020. Trusto88' R8$ponslbllltle8 In Rolatlon to the Flnanclal Ststemenlg The Charities Act requires the Trustees to prepare statements for each finanaal vear. which give a true and fair view of the state of affairs of the charity and of the surplus or defSclt of the charity for that period. In preparing these financial statements, the trustees are requested to.. al Select a sultable accountlng pollcles and then apply them conslstently.. bl Make judgements and estimates that are reasonable and prndent. cl State whether applicable accounting standards and statements of recommended practice have been followed, subject to any departures disc105ed and explained in the financial statements,. dl Prepare the flnan¢ial statements on the going concern basls unless It is presume that the charity will continue in operatlon. The trustees are responslble for keeplnB proper accountin8 records, which di5dose with reasonable accuracy at anytlme the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act. They are also responsible for safeguardin8 the assets of the charity and hence taking any reasonable steps for the prevention 3nd detection of fraud and other irregularities. Approval This report was approved by the Board of Trustees and slgned on their behalf by: Signature.. Name.. Date.. Gero8e Agyekum 110rt. 2021 POWER CHAPEL WORLDWIDE Ind•p•ndent Examlmfs Fl•port to the T￿￿e¢S of PoTNtr Ch•p81 Wortdwld• We report on the accounts of the Trust for the year ended 31 December 2020, which are set out on pages 3 to 8. R88PeCtlvo ro$pon￿bIlItIeS ol trustees •nd oxamlner The charity's trustees are responsible lor the reparation to the accounts. The charity's trustees consider that an audit is not required for this year (under sectiorn 43121 of the Charities Act 1993 Ithe 1993 Act) and that an independent examlnator, Ss needed. It Is our responsibility to-. examine the accounts (under section 431311al of the 19 23 Artl. to follow the procedures laid down in the General Dirertions given by the Charity Commissioners lunder section 4317llbl of the 1993 Artl.. and to state whether particular matters have come to my attention 8•¥14 ol Independent ex•rnln•rf8 roport Our examinatlon was carried out in accordance with the General Directlons give bv the Charity Commlssloners. An examination includes a rwew of the actounting records kept by the charity and a compèyison of the accounts presented with those records. It also include5 conslderatSon of any unusual items or disclosures in the accounts, ènd seeking explanations from you as trustees Concerning any suth matters. The protedures undertaken do not provide all the evldence that would be required Sn an audlt, and consequently we do not express an audit opinion on the vSew given by the accounts. Indopgndont èxamlnerfs 8tol¢mont In connection with my examination, no matter has come to our attention: 111 which 8j.ves us reasonable cause to belleve that, in any material respect, the requlrements to keep accounllng records in accordance with section 41 of the 1993 Act.. and to prepare accounts which accord with the accounting records and to comply wlth the accountln8 requlrement5 of the 1993 Att have not been met.. or 121 to which, in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Akins & Co Dated- 110rt. 2021 POWER CHAPEL WORLDWIDE STATEMEKf OF FINANCIAL ACTivmES FOR THE YEAR ENDED 31 DECEMBER 2020 Un￿trIcted Roslricted Total thls Total Ihls Year Yoar Tolal Year 2019 Not Incomlno Ro8ourc•s Voluntary Income 75,841 91,229 Tolal In¢ornlng Ro•ou￿0￿ 75,841 91.229 A•g¢)ures Expond•d Charitable/Admln Costs 78,142 90.765 Totsl Re•ource8 Eyp•nd•d 78,142 90,765 Not Incomlng R•ioure 123021 464 Transfer bets¥een funds Net Incomlng Ro$ourus For thls year 123021 464 Total Fund• Broughi Forwa 24,352 23.888 Total Funds Carrl•d Forwwd 22,050 24,352 POWER CHAPEL WORLDWIDE BALANCE SHEET AS AT 31 Decembgr 2020 Tot•1 2020 Total 2019 Flxod Assets Tangible Assets Pledgesl8uilding Fund 557 637 21578 Curronl Assets Cash at bank and In hand 15,685 22,050 2,137 24,352 Current Llabllltles Amounts falling due wlthin one year Not A•8￿8/(LI8ts1I1lIO$l 22,OSO 24,352 FUNDS Unrestrlcted Funds Adlustments to Previous year Restricted Funds Total Funds 22.050 24,352 22,050 24,352 The financial statements were approved by the Trustees and signed on its behalf bv.. Signature.. Name.. George A8yekum Date= 11 Oct. 2021 POWER CHAPEL WORLDWIDE NOTES TO THE FINANCIAL sfATEMENTS FOR THE YEAR ENDED 31 December 2020 l Accountlng Poll¢les The finaftclal statements have been prepared Ltnder historical cost convention and In accordance with the Statement of Recommended Practice. Accountin8 and Reporting by Charities ISORP 2C(J51 issued in March 2005 and In the preparation of the flnancial statements are as follows. 1.1 Voluntary Income• Incomes from tlthes and offering5 recelved during the year and accounted for as unrestricted fund Investmont In¢omo• Investment Income consist of net interest received during the year and accounted for as unrestritted fund. 1.2 R•sou￿•S Exp￿thd Resources expended are Included in the Statement of Flnanclal Artivities on an accrual basis, incluslve of any VAT whSch cannot be recovered. Certain expenditure15 ittributable to speclfic 8Ctivities and has been Included in those c05t cate8ories. 1.3 Tanglble Flxod Assots and Deprectstlon Tangible fixed assets are stated at cost less depreciation. Depreclation Is provlded at rates calculated to write off the cost or valuation of flxed assets, less the estimated residual Value. over their expecied useful lives on the followin8 bèsi5'. Instruments: Flxtures. Fittin8s and Office Equipments.. 20% Straight Une 25% Strai8ht ￿ne POWER CHAPEL WORLDWIDE NOTES TO THE FINANCIAL STATEmE￿s FOR THE YEAR ENDED 31 December 2020 2019 2 Incomlng Resounxs Tith8 Offering Sunday ProjecVBulkliro Collection 51,572 23,511 758 75,841 50,470 34,539 6,220 91.229 3 Resources Expanded Ch•rbtablè Actlvltles R8nVHall HI￿lOff￿1af8S TelephoneN&T Fuel WaggwHonararkJmlAllowan¢e8 Adrninlofflce Printing & Siationery Coundl Tax Mission Pledge MedialEvangellsmlConlerenco Pension GoCarde$s lees Wellarèlfotsd & Ddnk Con$ultancylAccounlant1908 Bank F89S Insurance MuslclanNiscelFaneou$ Deprecialit Total Co81 Surplu¥ l {08fi¢lt) 51,819 653 58.227 4,443 170 15.991 1,812 1,348 2.708 2.703 745 20,663 378 1,881 770 133 173 350 1.033 667 420 418 80 90,765 464 452 78,142 123021 NOTES TO THE FINANCIAL STATEMEp¥rs FOR THE YEAR ENDED 31 December 2020 4 Tanglble Flxed As$6t8 Flxtufes and Equlpmonl In8lrument$ Total Ai Co$t 8.640 17.108 25,748 Addltlons Dlsposals 8alance carried forward 17.108 25.748 Depreclatlon C•lcul8tlon Balance brought forward 8.639 16.472 25.111 Charge for the year 80 Disposal B8lan¢• carrbod lorw•rd 8.639 16￿52 25,191 N•t Book Value As at 31 Dec 2020 556 As at 31 D¢c 2019 636 637 POWER CHAPEL WORLDWIDE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 December 2020 Unr8¥lrfclod Restrlct•d Fund¥ Funds 2020 2020 Tot•1 Fund$ Tolal Funds 2019 5 FUNDS AS at 31 Decamb•r 2019 24.352 24.352 23,888 Surplus/Dedltit for the Year 123021 123021 464 As at 31 Decembor 2020 22.050 22,050 24,352 Unrestrlcted funds comprise those funds which the trustees. are free to use In accordance with thecharitable oblects. Restrlcted funds are funds whlch have been given fcr partlcular purposes and prO￿ett$.