CHARITY REGISTRATION NUMBEEL. 1148592 POWERCHURCH IIqTERNATIONAL AnnualAccountsandReports 31 December 2023
POVIERCHURCH INTERNATIONAL Accounts Yearended31Deeember 2023 Tru8tees'annualrepDrt Independentexw4iner'8reporttothetrnstee8 Statement0m&tIaL aetivities statement01n2Cl poÈition Notestotheaceouttts TknfollowlnDaOll0tt0Thu partofthe aecounts DetaiiedstatementotEnanetal artivities 13 Notestothedetailed statementoffinanciaIactivities 14
Trust¢u' Annual R¢port Yearended31December 2023 The trustees present their report and the unaudited actounts Of the ch&rity for the year ended 31December 2023. R¢fTenaam1ntstratlWt det&lJs Rtttttst•td¢h•rltyJwne POWERCHURCH INTERNATIONAL LIMrrED Charlty reglrtratlon nllmb•z 1148592 Prlnclpal offte• iifj Cgmberwell Road ndon SE50EE Thtstrust•È• Olaidc Falola Damilola Baiogu Ad&vtni M8kinde CONSTITUTION ADOPTED 01/0112012 AS AMENDED ON 0810812012. ObJectlvewLd actt The main 8im of POWERCHURCH INTERNATIONAL LIMITED is to idvanee the Christian faith irl accordance with Christian principles Énd to encoure people to zrow In their relation$hip Jesu8 Christ. The trustees seek to &chieve this by supporting regular worshipi prayer and Bible teaching and by fost¢ring a caring church community. During the year the charity carried out religioS activities including church services. prayer meeting$ d Christian tea¢hing which were opcn to th¢ g¢ncral public. The trn8¢¢es consider that these activities help people to learn about the Christian faith. to deepen their spxtitual Jife and to participate in the life of the church. The eharity also provides advice, infornitation and pastor21 support to individuals and f•llilies. offering encouragement. guid8nce and pra¢ti¢aL help where appropriate. Through these activities the trustees aim to reflect Christian love in action and to contribute positivdy to the wellbeing of the wider COTnEnunity. The work of POWERCHURCH INTERNATIONAL LIMITED is focused InlY in the London Borough of Southwark and in Christian ministry and outreach connected with communities in Nigeria. By operating buth locally intetnationallyi the ChIlY 8eeks to support and Strengthen Chrisuan faith and pr&ctice in these areas.
Trustees, Annual Repofyoontth Yearended3 IDeeexnber 2023 AchleveslltntsttttdptrfonllaLe¢ Throughout the year ended 31 December 2023, the activities tsf the thurch continued with increased In &ttendante to Chllreh aetivities held throughout the year. The chuTch has now incorpoFatrd online serriL*ts as part of its nonn81 serviees. The Youth, Woman rn18try gnd the thurch a3 a whole Iwd a f2nt&stic training and educative programs organised by the church. Plne181r0yIe The totsl intoming resources intteased by approximately 5.03Wo on the previous year12S,268 in 2022 to £26,538 in 20231. TILe totsi resources expended Increased by 24.830/0 on the previous YeI£21,184 in 2022 to £26,445 io 20231. The overall effect resBlted in Net Intome of £93 in2023. Platssforfutureperlods Ourpl8ns ftsrthe corning are great.we intend.. l. Toreach outandtodiscipletheunsaved forchrist. 2. ToequipBelieversto berooted8ndgroundedintheWord. 3. Todeyelopa strongmissionary church. 4. Toincreaseehurehattendance. 5. Ti>deYelopanenthusi&stitmultieulturAlchurch. 6. Todevelopa vibrantandgodly Youth Ministry. 7. Topradie2llyengagewYthourlocaleommunityrnore. RE8ERVEspoueY Thetrusteesrecognisetheneedtornaintsinres¢rves.Unrestrictedfundsareneededtocoverthe day-to-day administration and support costs of the charity and also to haye funds available for speeified projects in the fvture shollLd the need arise. The major risks to whith the charity is exposed have been identifjed a8 the safeguarding the assets of charity and ensuring funds are applied for charitable purposes. Systems and strategies have been put in place to mxtsgate the risk$. IncollLe And expeAdittJre tjre monitored through the 8eLting Of budgets which are compared with actud fwires. The trustees. annual report WA8 approved on 22 January 2024 gnd sisned on h81f of the bwd of trStee8 by.. Olaide F01a Trllstee
Independent Examiner's Report to the trustees of POiVERCHURCH INTERNATIONAL LIMITED Yearended3 IDecember2023 I report to the trustees ott my examination of the account¥ of POWERCHURCH INTERNATIONAL LIMrrED (the charity'i Ior the year ended 31 December 2023. Rè%pOn¥lbllltlIdb8$lsot report As the trustees of the charity. you are responsible for the preparation of thc accounts in accordance with the requTrrement$ of the ChatitiES Art 2011 (the Act). I report in respect of my a¥a]nation of the ¢harÈty'$ a¢ttsunts t&rried out under seeuon 145 of the 2011 Act and in carrying out rDy ex8Jrination I have followed all theapplicable Directionsgkven by the Charity Commission under secuon 14515llbl of the Art. Jndepend¢nteJaDLln¢r'w4tsJn¢nt.rn•tt¢rof¢•ttettsld*tttlAed Inconne¢tionwithmy exattiination,nomatt¢rhaÈtometomy&ttention'. 111 whichgives me reasonable causeto beli¢YethatjnYmatenelreSpeCltht requirements.. tokeepaecounting reeordsin&ccordanCeth section386 oftheCompaT)3¢sAct 2000,and to prepC accounts which accord with the oC¢Otittting records, comply wirh the accounung requirements of section 396 of the Companies Act 2006 and with the methods and priticiples of the Statement of RecomTnended Practic¢= A counting Ld Reporting by Charities have not been met. or 121 to which, in TX]y opinion, attention ould be drawTh in order to enabLe a proper understanding of the accounts to be reach Charles Lufad Independen¢ harl SL f Co
8tat¢m¢nt of Flnanclal Actlvltles Year ended 31 December 2023 2023 Unre$tri¢ted nds Tot•1 fund• Tota]funds 202 Not• tncomeand¢ndowments Dontttionsand legacies 26,538 26,538 25,268 Totsllncome 26.538 26,538 25.268 Expenditureoneharitableactitses 26,445 26,445 21,184 Total¢xp¢o4Uture 26,445 26,445 21,184 Net expendlture and net movement In fund8 93 93 4.084 RecoA¢lllatloAoffidO Totalfundsbroughtforward 15861 3,498 3.498 Tot•lfund#e*ttledfonvArd 3,591 3,591 3,498 TheStatement01ÉCla1&tuVlties1nclUde8allga1llSandl0Ssesreco8niSedltheYW. All income and expenditure derive from continuing ttctivities.
Statement of Flnanclal Posltlon 3 1 December 2023 2023 2022 Not Flxedag8et¥ Tangiblefixedassets li CUrrentatt# Ca5hatb8nkandinlwnd Debtor 16081 (7011 4.199 12 4199 3.591 3,498 Creditor•: anxounts falllng due lthln otte year Net ¢urrext ]l*bUltle# 3,591 3.498 TotalaasetslesscurrentUablUtle8 Ilet 3,591 3.498 assets Pundsofth¢eltaTIty Total fund brought forward unresti'ictedfunds 3,498 93 15861 4Ui44 13 3,591 3,498 These ac¢ounts were approved by the board of trustees and auth0ri8ed for issue on 22 JanuÈry 2024. and ase signed on behalf of the board by: Olaide Falola Trustee
Not¢s to the Accounts YeaTended3 IDecember 2023 The charity is & publ2c benefit entity and a re8iStered ¢hErity in England and Wales and i5 Lmincorporated. The addre8$ of the princip81 oJTice is 116. cberWell Road, London, SE5 OEE. These accounts have been preped in cOPIlnCe with FRS 102, The Financi41 Reporting Standard appJic&ble in the UK and the Republic of ktel8nd', the Statement of Recornrnended Practsce applicable to Charities prcparing their accounts in aecordance with the Financi Reportingstandard applitableiti theUK&nd RepublicofIreland IFRS 1021 ICharitiesSORP (FRS 10211 and the Charities Act 201 I. Accountlnoollcles aa0£preparatIon The &ceounts have bcen prepared on the historical Cost basis, as modified by the revaluation of ertain financial assets and liabi]ities and investment properties measured at fair valu¢ through income or expenditure. Theaccounts8ttprepAredin sterJing.which IsthefunctionalcuentY oftheentity. Golngconcern Therearenomateri8JuncertaiThtie3aboutthe ch&rity'sabilityto continue. Judytlletsts and key Sources of egtlthr4tlots un¢ertalnty The preparation of the financial statements does not require xnanagemertt to make judgements, esiimates and assumptions that affect the atnounts reported. Fund actountlLg Unrestrieted funds are available for use ai the di8cretion of the tru$tee8 to further any of the charity $ purposes. Designated funds are unrestrieted funds CMarked by the trustees for particul futureproje¢t or cotillnitment. Restrirted ftmds are subjected to restricttons on their expenditure dedared by the donoT or through the tetrns of an appeal. and f8Jl into one of two sub-classes.. restrirted intome funds or endowment fynd8.
POWERCHURCH INTERNATIONAL LIMITED Not¢stothe ACcountstInUe Yearended3 IDecember2023 All incoming resources are included in the statement of artÉvitie$ when entitE¢ment ha$ passed to the charity,. it is probable that the etonotijit benefits associated with the transaetion will flow to the charity and the noUt can be reliably Jneasured. The following specific po]icies are app]ied to particular categories of income.. income from donations or grants is reco8nised when there is evidente of entitlement to the . receipt 18 probable 8nd its Amount can be measured rejiably. Ic8acyincgrneisrecognisedwhenreceiptisprobable and entitlementis establi8hed. income frojn donated goods is measured at the fair value of the good5 unless this is impraetieai to measure reliablyb in which case the value 1$ derived from the cost to thedonor or the estimated resale value. Donated faci]ities and 8ervices 8Te recognised in the accounts when received if the v&lue cèn be reliably measured. No amount8 are included for the ontribution of general voluThteeEs. ititome from totttr&ets for the supply of services is recognised with the delivery of the tontrarted serrite. This is classifjed as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose gnd returned if unspent, in which case it may be regarded a5 re3tricted. Resouree8expended Expenditure 1$ recognised on an aterual$ b&si8 as a liabtltty is incurred. Expenditure includes any VAT whÉch cannot be fully recovered, and is dassified under headings of the statement of financial activities to wkLich it relates: swenditure0nraisinndsinclttdtSthecostof8lldr81Singat[tWitses,eVents, non-charitable trading activities, and the sale of donated goods. expenditure on charitable activities indudes all ¢o$t$ in¢urred by a eharity in undertaking aetivities that further its charitable aims for the benefit of its beneficiaries, incLuding those sllpport costs and costs relating to the gOVernce of the charity apportioned to charitsble activities. other expenditure indudes all expenditure that xs nexther related to raising funds for the Chlty uor pgrt of its ezpenditure on charitable Activities. Ail costs are allocatttl to cxp¢n(liture categories renectlng the use of the re80urce. Direct C08ts attrtbutable to a sllwe activity are alloc&ted direcuy to that &ttivity. Sh8red costs are&pportioned between the activities they contribute to on a reasonabl¢* justifiable and etsnsistent basis. Tanglbte Tangible assets are initially recorded at cost, and subsequently stttted at cost Less &ny a¢cumulated depreciation and impairnient losses. Any t3Thgible assets earried at rev21ued amoutits are retorded at the fair value at the date of revalu2tionless sny subsequent accumulated deprwiation And subsequent accumulated imp¥innent losses.
POWERCHURCH IIITERNATIONAL LIMITED Notestothe Accounts{t¢dJ Yearended31December2023 AecountlttKptslleI¢•fet1mlj An increase inthe carryingamount of and&%et asa result of a revalution, is recogui8ed in other retognised gains and losses, unless it reverses a charge for impairment that has previously been recognisedas expenditurewithinthe statement offinancia1actitses.A decreaseinthe earry'ing Éunount of an asset as a result ofrevaluation. is retognised in other recognised gains losses, except to which it offsets Any prrriou$ revaluation gain, in which ¢ase the los$ is shown within other recogni8ed gains and losses on the statement of fanCIal activities. Dpr¢latlo Depreciationi8ealculatedsoastowriteoffthecostorvalu&tionOf&ssetje88itSreSidUal value. over the Useful economic life of that aststt ats follows-. 25Y(reducing ba]ance 250/Lfeducing balan¢ Equipment Impalrnientofflxedassets A review for indieators of ipa]rMent is caled out at e&ch reporting date, with the recoverable amount being estitnated where such inditators exist. Where the ¢aTryinÈ value exceeds the retoverable [[LOUt, the asset Is impaired accordingly. Prior impainnents are also reviewed for possible reversal at eacFL reporting date. For the purposes of impairment testing, when it is not possible to estimate the reeoverable 8m0untofsnindiwdllalsset,&nC$tim&tc1Sm&d¢ofthcrc¢OV¢rabIt0M0utOfthe cash-geTherating unit to which the asset beLongs. The cash-generating unit is the STn8lle identifiable group of assets that in¢lude$ the a$$et generates ca8h inflows that l&rgely Indepdent of the cash infloths from othcr a88et8 or groups of assets. bor impairnient testing of goodThull, the goodwryll acquired in a business combination is. frorn the acquisition date. allocated to each of the eash-generating units that are expected to benefit fFOIti the synergies of the combination. irrespective of whether other assets or liabilities of the charity are assIed to those units. Donatlon•4nd 1oyel¢• Unrestiicted Trltsl Fundo un$t[icted TotalFunds Funds 2028 Futtds 2022 Donations Donationsand Tithes ThanksgivingandHthest Buildingfund Pledgeandseed 18,370 2,450 1.800 2.950 968 18,370 2.450 1,800 2.950 968 17.630 2.120 1.600 2.750 1,168 17,630 2,120 2,750 1,168 26,538 26,538 25.268 25.268
POWERCHURCH INTERNATIONAL LIMITED Notestothe Ac¢ountWthts•d) Yearended3 IDeceznbeT2023 EKp¢ndltuYeon¢harltableaetlvltlesbyfbndtype Unrestricted Totsl Funds Unrestricted TotalFunds Funds Funds 2022 Ev8ngelÈsmandpros Donatious,bxble classand church supplies 8piritu8litemsandfrnits Supportcosts 21,026 21,026 14,337 14,337 3.419 2000 3.419 2(K)O 3,847 3000 3,847 3000 26,445 26,445 21,184 21,184 EXndIture0cbaT1t¥bleqctlFltleSbyactlltytYp¢ Activities undertaken directly Support ci)sts Totsl futtd¥ Tot8lfund 2022 8vangells and programs Donations, bible class and church suppbes Spiritual items and frjits Governance costs 2 1,020 21.026 14.337 3,419 20(X> 3,419 2000 3,847 3000 26,445 26.445 21,184 Net expendlture Netexpenditureisstated aftcrthargingllcrediting): 2023 2022 Depreeiation of tangible rc assets IndependentexLmln4tlonfe 2022 Feespayabletotheindependent exarniner for.. Independent examination of the accounts The average head count of employees during the ye&r was Nil12023:Nill- Noernployeereceivcd employee benefits ofmorethan£60,OOOduringtheyear12023..Niil. 10. Trusteeremllneratk*nandexpen8e8 There were no trystees. reTnuneration or other benefits for the year ended 31 Decexuber 2023 nor for the year ended 31 December 2022. .10.
POiVERCHURCH INTERNATIONAL LIMITED Notestothe Accountsfrthx¢ Yearend¢d3 IDe¢embeT2023 11. Th1bhAed&8Bets FixtllreÈgnd fittings Equipment Tot AtlJaDuary2023 Addition 3,191 3,191 At31 Doe•mbtT21Y28 3,150 3.191 Dopr¢¢lttoA AtlJanuary2023 Charge for the year At31 De¢eMber214 3.191 3.191 3,191 3,191 earryltsgamount At31 Deeember2023 At Dettber 2022 12. CredltornamtywLt¥flllngduevAthlttonwT 2022 A¢¢rugls and deferred income 13. AnalYsIr¢haT1abIe thnds Untestrletedfunds At 31DeeethbeT At IJU&tO23 Inttrme Expenditure General funds 3,498 26.538 126.4451 3,591 At 3 IDeeember 2022 At lJanukry2022 Jncome ExpendittTrre General funds 15801 25,268 121,1841 3.498
POWERCHITRCH INTERNATIONAL LIMITED Notestothe Accounts(contthu&J Yearended31December2023 UJ)restrl¢ted Total Fund8 2023 Tangiblefjxed8s8ets Currentassets Credktors less thanlyear 3,591 3,591 N•t asèts 3.591 3,591 -12-
Detalled Statement of Financlal A¢tlvltle8 Year ended 31 December 2023 2023 2022 Incomeartdendowment8 Donath>n8 and l¢gacl¢8 Donationsand Ththes ThankSgingandH9TVCst Buildin8fvnd Pledgeandseed Wojnatt mini8try HMRC Gifts aid 18,370 2,450 1,800 2.950 968 17,630 2,120 1600 2.750 1,168 26.538 25.268 Totallneome 26.538 25,268 Expendlture Expendltureon¢harltabieactlvltl¢$ Rettt RepaIrsdaltenan Otherestablishment Othermotorltravel tosts Legal?d professionalfees Telephone Other office tos¢s Depreciation Revival,BibleclassandSpirituaIitems EvangelisrnandCh8ritabledonation6 PraiseandWOrship/CateruandHo$pitR1ity ChristmasParty 8J]d Weare 20,900 14,300 126 771 2104 gY)O 587 1,235 5419 26.445 21,184 Totsl¢xpendlture 26,445 21.184 fletexpendlture 93 4084
THEROCKOFCALVARYMINISTRIES Notes to the Detalled Statement of Flnanclal Actlvltles Year ended 3 1 December 2023 2022 Expendltureon¢haTltableactfvltle8 EV4ng¢llsnlldpr0%rm8 Actlvltlesundertak¢ndirectly Dire¢t ¢haTitable activity-rent Direct charitable activity -repairs &m8intenAnte 20.900 14,200 Direct charitable aCtIry -Printing, po$tage, aod stationery Direct eharitable activity-oth¢r motor/travel costs Direet thtable activkty-legal and professional fees Direct charitabLe activity-teLephone Direct charitable activity- Service chg4e Direct charitable activity-subscription Direct chatitable 1VIty-ReviVal Direct charitable activity-Evw]gelism Direct eharitable activity-IA¥ht & Heat 910 2.104 900 587 5419 39 126 771 26.445 19,611 Donatlons,blbl¢¢]a•8Andchureh8upplle# A¢tlvltl¢sundertukendlrectly Direct charitable activity-charitable donations Direct eharitable activity-catering and HOSpitlty Direct chlble activity-wejfare 1573 1573 SplYlthaHtem#andfrwts Ac£*vltlesundert¢Tkendlreetly Directcharitableactivity-Spiritu8jltrtsand Fruits Governancecosts-accountAntsrfees ndltureonchaxltableattlvltl¢s 26,445 21,184 -15-