CHARITY REGISTRATION flUMBEIL. 1148592 POWERCHURCH INTERNATIONAL Annual Accounts and Reports 31 December 2024
POWERCHURCH INTERNATIONAL A¢¢ounts Y¢arended3 IDecember 2024 Tni$tees'8nnualreport IndepcrLdentexaminer'sreporttothetrustee3 Statementoffinancia] activities Statementoffinancial p)sition Notestotheaccounts The followlng page6 do not fomi put of thé aecouot¥ Detailedstatementoffinancial activities 13 Notestothedetailed Stat¢entOffinarlCia]a¢tivitLeS 14
Tru8tees' Annual Report Y¢arended3 IDe¢¢mber 2024 The trustees present their rq)ort and the unaudited accounts of the charity for the year ended 31DeceEnber 2023. Ref¢Tene•andadmlAlstrat d•t•ll& Reglsteredch4TItyty4w¢ POWERCHURCH INTERNATIONAL LIMITED Charlty rztstrntlon numb 1148592 Prlttelp office 116 eaznberwellRoad IndOn SE50EE hetruJtee8 Olaide Falola Damilola Balogun Adivini Makinde 8trnctwe.goYrttoAe8and management CONSTITUTION ADOFfED OII0112012 AS AMENDED ON 0810812012. Objectlvemttd &etivltle¥ The main Birn of POWERCHURCH INfERNATIONAL LIMITED is to adva¢¢ the Christian faith in accordance with Christian principles and to etseourage people to grow in thekr relationship with Jesus Christ. The trustees seek to achÈeve thi$ by supporting regular worshipb prayer and Bible tettching and by fostering a caring church totnmunity. During the year the charity carried out re]sou$ activities includirLE thurch services, prayer meetsngs and Christian teaching whieh were open to the general public. The tnisttes eonsider that these activities help people to learn &bout the Christian faith, to deepen their spiritual life arLd tD parucipate itt the Jife of the church. The charity also providts advice, infornxation tmd pa8totsl support to individuAls and fami]ies, offering encouragernent. guidance and practical help where appropriate. Through these activities the trustees aim to reflect Christxan love in action and to contribute positively to the wellbeAng of the der community. The work of POWERCHURCH INTERNATIONAL LIMrrED is loeused mainly in the London Borough of Southwark and in Christian Jninistry and outreach eonneeted witFL communities in Nigeria. By pe.rAting both lotxLly and internationally, the charity seeks to support strengthen ChLlStian faith 8nd practice in these areas.
Trustees, Annual Reportleontlm4•dJ Yearended3 ID¢cember 2024 Achlvments&ndperfornwnee Throughout the ye8r ended 3 l December 2024, the activities of the chvrch continued with intreased in attendnce to Church activities held throughout the yew. The church has now incorporated online servites as pgrt of its norrllal services. The Youth, Woman ministry and the church as a whole had a fantastic training arLd educative prograJns organised by the church. The total Incotni rourceS increased by approximately 10.65°h on the previous year126,538 in 2023 to £29.364 in 20241- The total resourees expended decreased by 34. 16¥0 on the preou year1£26,445 in2023 to 817,41 lin 20241. The overall effectresultedinnet Net Income of £1 1,953 in 2024. PjallsforfuturerjodS Ourplaos forthe coming are great.we intend-. l. Toreaeh outandtodiscipletheunsaved forchrist. 2. ToequipBelieYersto berootedandgroundedintheword. 3. Todevelopa strongmissionary chur¢h. 4. Toincreasechurchattendance. 5. Todevelopanenthusiastiutkuluculturalchurch. O. Todevelopa braThtandgOdIY Youth Ministry. 7. Topracticallye¥LgagewithourloCalcornunit1rnOre. RESERVFSPOLICY Thetrusteesrecognkðeneedtomaint8xnreserves.Unre$trictedfunds8reneededtotoverthe day-to-day administration and support costs of the chlty and also to have fuuds available for specified pToject8 in the future should the need arise. The m4ior risks to which the chatity is exposed have been idetxtified the safeguarding the assets of charity and ensuring funds app]ied for charitable puryoses. Systems and Strategies have been put in place to rnitigate these risks. Ineome and expenditure are monitored thn)ugh the Setting of budget which are compared with aetts r]gures. TELe trustees, atjnual report wa6 approved on 22 J8nuAry 2025 and signed on behè]f of the board of trustees by". Olaide Palola Trustee
Independent Examlner's Report to the tnvstees of POWERCHURCH INTERNATIONAL LIMITED Year ended 31December 2024 I report to the trus¢ee8 on my examination of the a¢¢ount8 of POWERCHURCH INTERNATIONAL LIMITED I'the ¢harity'l for the year ended 31 December 2024. Re5ponslbllltlesBndbtsDf report As the trustees of the charity, you are responsible for the preparation of the accounts in accordance with the requirements ofthe Ch*rities Act 2011 (the Aet). I report in respect of my exaltiOn of the charity's attollnts earried out under settion 145 of the 2011 Act and in carrying out my &Tamination I have followed theappJi¢&ble Directionsgiven by the Charity Commission under seetion 14515llbl of the Act. Independentexamlner'88tatement.MatterofcorrnIdetjfjed Inconnectionwithrtky exatllin&tion,nollLatterha8c0CtoTrYattctsQn: 111 wtLichgJves Jne reasonabje cau8eto believethatinan3rynat¢riglre8pe¢tthe Feouiremellt$'. tokeepaccounting recordsinaccordanttwryth secuon386 oftheCompgniesAct 2006,8d to prepare a¢¢ount$ which ac¢or requirements of 8ection 396 of the Co Statement of Reconunended ctice.. A 121 to which, in my opinion. ntion the attounts to be reached.. 'th the a¢¢ounting reeords, cojnply the accounting panies Act 2006 and with the methods aFLd principles of the ounting and Reporting by Charities have not been met, or ould be draw in order to enablc a proper under6tanding of Ch8rles Luf&deiu Independent CA, iner Luf&Co ccountants red LoÈl
statement of Financial Actlvltl¢8 Year ended 3 1 December 2024 2023 Utyrestricted funds Total fund¥ Totaifunds Nots ILcomeandendowment8 Donat50nsand legacies 29,364 29.364 26.538 Totsllneome 29.364 29.364 26,538 Exp¢ndltyr¢ Expenditureoncharitableaetivities 17.411 17,411 26,445 Totalexpendltur¢ 17,411 17.411 26,445 Netexpendltureandnetmovementhiknds 11,953 11.953 93 Reeonelllationoffunds TotaJfundsbrou8htfonv8rd Totalfund8¢Arrl¢dforwArd 3498 3,591 3.591 15,544 15,544 3,591 TheSt&tementoff]n8n¢iala¢tivitiesin¢ludesallga$anlQSse$re¢0gtt1s¢d1ntheye&r. All income and expenditure derive from continuing activities.
stst¢ment of Flnan¢lal Posltlon 3 1 December 2023 2023 Ilot• Plxedassets TangibleftdasSetr li Curr¢nta8S¢t8 CasbatbankAtLdinhaEEd Debtor 11.8301 16081 17,373 12 4199 1S,$44 3,591 Cr¢dltorn: amounts falling due rrithln one year Net CUTrent ltsbUltt¢8 15.544 3,591 TotAla8setsle¥#currentliabllltles N¢t 15,544 3.591 a8¥ets Futtd8oftheehatlty Total fund brought fonvard unrestrictedfunds 8.591 11,953 3.498 YJ TOtal¢harttyfid8 18 15.544 3,59l These aceounts were ttpproved by the board of trustees and authorx8ed for i88ue on 22 January 2024. nd are 5i8ned on behalf of the board by.. Olaide Falola
Notes to the Accounts Year ended 31December 2024 The charity is a public benefit entity and a regstered charity in England and we& and 1$ unincorporated. The address ofthe principal office is I l6, Carnbepvell Road, London. SE5 OEE. sttem¢ntof compllanee The8e accounts have been preped in compliance with FRS 102, 'The Fin8nei81 Reporting 8taDdard applscable in the UK the Republic of Ireland,. the Statement of Recommended practi applicable to charities preparing their ttecouttts in kccordance with the Financial Reportingstandard &pplicablein theUKand Repubjicoffreland IPRS 1021 ICharitiesSORP (FR8 10211 and the cIltieS Att 2011. Aeeountln4poll¢le• Ba8l¥ofpreparatlon The accounts have been prepared on the historical cost basi5, as modified by the revaluauon of certslln nClaI as8ets and liabijiues and investment properties mea8ured at fair value through income or exptnditure. Theaccount68reprep8redin 8terling,which isthefunctiona]currency oftheentity. Golngconcern Therearenom&teAaluntertaintiesalx>utthe ¢hÈrity'$abiJityto tontirEue. Judgemat •Aad k¢y •OUT¢e4 •f eotln)atloo uncertalnty The preparation of the financial statements does not re¢Juires management to make jud8ements, estimates and assumptions that affect the amounts reported. Unrestricted funds are av8il&ble for use at the discretion of the trnstees to further any of the charity's puryoses. Design&ted fund$ are unrestricted fund$ e8rm8rked by the trustees lor particular futureproject or comtnitment. Restrirted fundts art Subjected to rtstrictLtns on their expenditure dedared by the donor or through the term8 of an &ppeal, and fa]1 into one of two sub-classes.. restricted income funds or endownkent funds.
POWERCHURCH INTERNATIONAL LIMITED Notestothe Account8ÈoAtlnuadJ Yearended31December2024 Aeeolltttlttgpollet8%leoAtIRuedJ All incozning resources are included in the statement of fuwicial activities when entidement has passed to the ehariry. it is probable that the e¢onotni¢ benefits a$sociated with the traDSaction will flow to the charity and the amount can be reliably tneasured. The followin8 specific FK>lieies e applied to P91Cular catrgoTAes of incorne: income from donations or grants is recognised when there is evidence of entitlement to the , rettipt is probable its 8mouttt catt be tLeasured rejiably. legacyincomeisreeogmisedwhenrereiptisprtsb&ble attd entitIeentiS e$tabJi8hed. income from donated goods is measured At the fair va]ue of the goods unless this is imprattitttl to measure reliably, in which case the value 18 derived from the cost to thedonor or the estitnated resale value. Donated facilities and serrices are recognised in the acetsunts when received if the vaLue can be reliably measured. No amounts are incLuded for the contribution of general volunteers. income from contracts for the supply OI services is recognised the delivery of the contracted serviee. This is classifted as unrestricted funds unless there is & Contracal requirement for it to be spent on tt particular purpose and returned if unspent, in which case Lt may be regarded as restricted. R¢•tyUro¢Bxryed Expenditure is recognised on an accruals basis as a liability 18 incurred. Expenditure includes any VAT which cannot be fully retovered, ond is tl&ssified under headings of the 8taternent of rinancial activities to which it relates.. expenditureonraisingfunds2ncludesthecostsofallfundralsinetlvitieS.evenls. non-charitable trading activities, and the sale of donated goods. expendimre on charitable attivities ineludes all costs Incurred by a charity in uttdertalot]g &ctivities that further its charitable for the benefit of its benefieitsries, including thosp. support eosts and Costs relating to the govemanee of the ch2rity apportioned to Charitable activities. other expenditure includes all wenditure that is neither related to raitsing funds for the charity nor part of its expenditure on charitable activities. All eosts are allocated to Lwenditure categories reflecting the use of the resource. Direct costs attributable to a single activity 8Jlo¢ated directly to that activity. Shared ¢osts areapportioned between the actiMtie8 they contribute to on a reasonable justifiable and consistent basis. T•nrlblo awt• Tangible a68et8 are initially recorded at cost, and subsequentLy stated at C08t le86 any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of rev8luationles8 any subsequent accumulated depreeiation 8nd subsequent aecuMuted impairment Ios8es.
POIVERCHURCH INTERNATIONAL LIMITED Notestothe Accountsl*tr¢d) Yeareoded3 IDeeembeT2024 An increase inthe ¢arryingamount of anasset asa result of a revaluation, 18 recognised in other reco8ni8ed gain8 and losses, unless Ét reverses a charge for impairmerlt that has previously been recognisedas expenditurewuthinthe statement 070¢1aactIvIlles.A decreaseinthe c8rrying amount of an asset as a result ofreva]uation, 18 recolSed sn other recogni8ed gains and losses, except to which it offsets any previous revaluauon gain, in whieh case the loss 1$ shown within other recognised gains and Ios8es on the Statement of finon¢ial activitie8. Depreclatlott Depreciation is catculated so as to write off the cost or v8luation of an asset ,less its residu value, over the useful economit life of that asset as follows.. Fixturesdfittittg8 EquIpmLt 25Vrfedu¢ing bajgnce 25¥educing balance impalrmetttofflxedalsots A review for indicators of irnpHirment is earried out at each reporting date. with the recoverable amount being estitnated where such indicators exist. Where the tarryryng v8Jue exceeds the recoYerLble a0unt, the asset is impaired actordingly. Trior iPaIrmentS are also reviewed for possible reversaj at each reporting date. For the purposes of impairment testing, when it is not possible to estIat¢ the recoverable mountofaThindiVidugJasset,8nestinteIsMade0fthereCoVerblCWoun[OttC cash-generfAting unit to which the asset belongs. The cash-generating unit is the stnallest identifwble group of asEets that includes the asset and generates cash inflow$ that IttY independent of the cash intLows frorn other assets or groups of a88ets. For impairment testin¥ of goodwill, the goodwill acquired in & business combination 18, from the acquisition date, allocated to each of the cash-generating units ihat are Lyjected to benefit from the synergies of the etsrnbination, irrespective of whether other assets or li&bilities of the charity re ttssigrLed to those units. Donatlonsattd l•zaelo• Unrestticted Totsl FuLd$ Unrestiicted Tota]Funds Funds Funds 2023 Donatlons Donationsand Ththes ThanksgiVingÉdHarve8t Buildingfuttd PLedgeandSeed Woman ministry 29,304 29,364 18,370 2.450 1.800 2.950 968 18.370 2,450 1.80(> 2,950 29,364, 29064 26,538 26.538
POWERCHURCH INTERNATIONAL LIMITED Notestothe Aeeountsfront Yearended3 IDecemb¢r2024 ExpendltllTtoneh&rltsbl¢4¢ttvltleBbyfllndtype Unrestricted Total Fuods Unrestsicted TotsJFunds Funds 2024 Funds 2023 Evange]is]nandprograrns Donations,bible classand Church supplies spiriturlternSndfiultS Supportcosts 15,000 15.000 21,026 21.026 iooo 1,411 iooo 1.411 3,419 2000 3.419 l7,411 17,411 26.44S 26,445 Expendltur•ott¢hrft4bleactlvltlesbyaetlvltytypt Activities undertaJ(en directly Support costs Totsl tutyd• Totalftjnd 2023 Evangejism and programs Donations, biblt class and church supplies SpiritualÈtems&ndfruits Governance costs 15.000 15.000 21,026 iooo 1.411 iooo 1.411 3.419 2000 17,4ll 17,411 26.445 Net expeLdlturo Netexpenditur¢isstated aftercb8ryng/lcreditingi.' 2023 DeptIatiOn of tangible fixed a&s¢t8 lttdtp¢ndentexamlDatlonfee& 2023 Feespayabletotheindependent examiner for.. Independent examinatson of the accounts $talT eoo The average head count of employees during the year was Nil12024..Nil, 2023..Nill. NoemployeereceiY¢d employee benefits 0fMorethat6,O[xkIU£IgtheYe8r12O24:NJ1, 2023..Nill. 10. TrllatetremuLrntton4ndexpenae¥ There were no trustees. remuneration or other benefits foT the year ended 31 Dettmber 2024 nor for the year ended 31 DecellLber 2023. -io-
POWERCHURCH INTERNATIONAL LIMITED Note8tothe A¢countSlLwAtlmtedl Yearended31DeceMbeO24 11. Thn%lblefiRod4BJOt• rjttiogs Equipment AtlJ8nuary2024 Addition 3,191 3,l9l At81 Deeember2024 3,150 3,191 D•prelatlo AtlJanuary2024 Charge for the year At81 Decernbetr2024 3.191 3,191 3,191 3,191 Canylngamowit At31 December2024 At December 2023 12. Credltors:amount8falJlngduewltbllloneyear 2023 Accrua]s and defe¢ income 18. Att4ly•l¥tsf¢hrlt*bl¢ fytsd• Unre$trlct¢dfunds At 31Dectmber At lJanuar)4024 In¢ome Expenditure General funds 3,591 29.364 117.4lll 15,544 AÈ 31December 2023 At lJanuaty2023 Income Expenditure GeneraI funds 3.498 26.538 126.4451 3.591
POWERCHURCH INTERNATIONAL LIMITED Not¢8toth¢ A¢cOUntS(LntInu¢4 Yearended31Deeember2024 14. AnYo1401tI•b¢tW¢Otthttd• Unrestricted Total Funds Funds Tangiblefixedassets Curretitassets Creditor8less thanlyear 15,544 IS,544 15,544 15,544 .12.
DetalledStatementoFlnan¢lalActlvitles Year ended 31 De¢ember 2024 2023 Ineomeandcndowments Donatlonj aod legacie# Don&tionsand Tithe$ ThankS8ivingandH8cst Buildingfvnd Picdgeandseed Woman ministry HMRC Gifts 8id 29,364 18.370 2,450 l.800 2,950 29.364 26,538 Totalkn¢ome 29.364 26,538 Expendlture Expendltureoneharltabl¢a¢tlvltle¥ Rent RepairSandninteanC¢ Otherestabli8hment Othermotorltravel costs L¢galÈttd professionalftts Telephone Other office costs Depreci&tion Revival,BibleclassandSpiritualitems EvaThgelIsmandCh&ritabledotiOnS PraiseandWorship/CateringandHo$pit81ity Chri8tmasP8rry Welfare 12,665 20,900 1683 120 126 816 128 5419 17,411 26.445 Totaie]rpendltur¢ l7,411 26.445 Netexpendltur¢ 11.953 93
THEROCKOFCALVARYMINISTRXES Note8totheDetalledStatementoFlnanclalActhTltle8 Year ended 31 Deeember 2024 2024 2023 Exp¢ndltur¢onchaTltabl¢actfvlt£es Evangell#Mandprogra$ Direrteh&rit&ble&ttivity-rent Diiectchatitableactivity-iepMirs&rnaiAtenante 12.665 20,IXJO Direct charitable activity-Printing¥ PoStage,a statlonery Direct charitable actiNryry-other xnotorltravel costs Direct charitable actI-1egal and professional fees Direct charitable activity-Rate8 Directcharitableactivity- Service eharge Directch8ritableactivity-8ubscription Dlreclcharitableactivity-Re¥al Direetcharitableactiwty-EvangeJxsm Directcharitabl¢activity-Light & Heat 1816 5,419 1,683 126 ls.ijoo 26.445 Donatlons,blbleelassandchurchsupplle# A¢tlvltl¢sundertak¢ndlrectly Directcharitablcacuvity-charitabledonations Directeharitableactivity -Cateringand Ho8pitsJity Directcharitableactivity.W¢]fare 1000 iooo sptrltua1ltenndfrUlts A¢tlvltlesund¢rt¢7kendlr¢rtly Directcharitableactivity-SpiIituaU¢emsAnd Fnjlts (lovexnaneecosts Goveroancecosts-accountancyfees Expettdltureonehatltable&etlvltle• l7,411 20,445 -15-