OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

← Temple Of Grace

2024-03-31-accounts

TEMPLE OF GRACE (formerly known as ADONAI INTERNATIONAL MINISTRIES) REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 MARCH 2024

Registered Charity No. 1149167

TEMPLE OF GRACE CONTENTS

Page
Trustees and Advisers 2
Report of the Trustees 3 – 7
Independent Examiners Report 8
Statement of Financial Activities 9
Balance Sheet 10
Accounting Policies 11 - 12
Notes to the Accounts 13

TEMPLE OF GRACE

TRUSTEES AND ADVISORS

Trustees

Chair David Kafui Johnson E Anka Ellen Gomado Fidel Christian Tarpeh Budy Tobias Siegenthaler Chief Executive Jeremiah Gomado Company Secretary Johnson Anka Charity Registration No 1149167

Registered Office

Registered Office 1st Floor Speedicut Works Harleston Street, Sheffield S4 7QB Bankers HSBC Bank PLC Rotherham College Street 35 College Street Rotherham England S65 1AF

2

TEMPLE OF GRACE

REPORT OF THE TRUSTEES Year ended 31 MARCH 2024

INTRODUCTION

The Trustees have pleasure in presenting their report for the year ended 31 March 2024. The Trustees have complied with the Statement of Recommended Practice, Accounting and Reporting by Charities (2015) and applicable United Kingdom Accounting and Financial Reporting Standards.

Small Companies Exemption

In preparing their report, the trustees have decided to take advantage of the Small Companies Exemption under Section 1A of FRS 102 and the Companies Act 2006.

Reference and Administrative Information

The charity changed its name to Temple of Grace in April 2024 by resolution of the trustees in a special meeting held in November 2022 which involved all clergy and leadership personnel. The change of name was officially announced in April 2023. Temple of Grace is a registered charity under the Charities Act 1993, charity number 1149167. It is governed by its Constitution adopted on the 5 August 2010.

The governance of the Charity is vested in the Trustees appointed under the Constitution. The day-to-day organisation of the Charity is delegated to the Chief Executive.

Details of the Trustees, who are also the directors and members of the Company, who served during the year are set out on page 2.

The principal place of business and any professional advisors of the Charity are set out on page 2.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Organisational Structure

The organisation’s structure is best presented as laid out below:

----- Start of picture text -----
Board of Trustees
Chief Executive
Senior Leadership
Team
Staff Team and
Volunteers
----- End of picture text -----

The Trustees consider that the above structure is appropriate for the charity’s activities.

3

TEMPLE OF GRACE

REPORT OF THE TRUSTEES Year ended 31 MARCH 2024

Governance

The governing body of the charity is the Board of Trustees, the members of which are listed on page 2. Unless indicated otherwise, all served throughout the year. The Board must consist of a minimum of three members but there is no maximum number. The method for the recruitment and appointment of Trustees involves a skills’ audit and review, and a combination of active search and open advertisement.

The induction and training procedures for Trustees are as follows: new Trustees are invited to attend a Board meeting as observers before confirming that they will take up their appointment; they are supplied with a copy of the Charity Commission’s guide to being a trustee and the core constitutional and strategic documents relating to the Charity and its work; the activities of the Charity are presented to new Trustees by members of staff within a reasonable time after appointment and Trustees are periodically invited to consider and notify the Chair if there is any particular training or experience from which they would benefit so as to help them fulfil their responsibilities to the Charity.

Trustees are encouraged to identify particular areas of activity that they are keen to participate in. The Trustees agree the level of the Chief Executive’s remuneration, monitors all legal and operational activities of the Charity, reviews the organisational budget and closely monitors the Charity’s financial performance.

Management

The Board is responsible for setting strategies and policies for the Charity and for ensuring that these are implemented. The day to day running of the Charity is delegated to the Chief Executive and his staff. The Chief Executive is responsible for the implementation of policies and strategies on behalf of the Board. The Chief Executive works with the Leadership Team to implement the policies and procedures.

Risk Management

The Trustees have examined the principal areas of the Charity’s operations and considered the major risks in each of these areas.

In the opinion of the Trustees, the Charity has established a review system and allocated sufficient resources to ensure those risks identified have been mitigated to a level acceptable for the Charity’s day to day operations.

Safeguarding

Temple of Grace is committed to the highest safeguarding standards. The Board, within its capacity, oversees an approach to the charity’s work which ensures that Safeguarding regulations are adhered to. A comprehensive Safeguarding Policy has been developed which guides the operations of all staff. Any opportunities to acquire training for staff are utilised.

OBJECTIVES AND ACTIVITIES

Objectives

The main object of the Charity, as stated in its Constitution, is the advancement of the Christian faith worldwide in accordance with the doctrines set out in the Statement of Faith.

The Trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the Charity’s aims and objectives and in planning future activities.

4

TEMPLE OF GRACE

REPORT OF THE TRUSTEES Year ended 31 MARCH 2024

Vision

Temple of Grace is an independent charity seeking to impact our generation with the standards of Christ and influencing them to fulfil their full potential and destiny in Christ for the public benefit and for that purpose to advance the active understanding of the Christian faith and any other subjects insofar as they are likely to be conducive to the public benefit.

Mission

We work to build wider understanding of the Christian Faith and its benefits to UK society.

We work towards our vision by:

REVIEW OF THE YEAR

The year under review has been a year in which have continued our recovery from the impact of the lockdown. We observed a slow but consistent growth in our numbers and saw some former members return to our fold. We undertook to strengthen the financial base of the charity as well as reviewing our administrative procedures.

Our trustees have consistently maintained their dedication to encourage the church and its pastoral leadership to be objective and determined to look for more ways to improve our numerical strength and extend our impact within our catchment areas. This is aimed at sustaining every positive experience that can engender growth and promote a meaningful change in individual lives.

Our guiding principle continues to be the development of a church that is open to all and is determined to empower our generation with biblical wisdom and participation to restore hope. We will continuously provide a place for the facilitation of expressions of Christian faith, selfimprovement and personal progress.

Our primary methodology remains:

ACHIEVEMENTS AND PERFORMANCE

We hosted a series of seminars across the year with sections of our congregation which were aimed at improving their understanding of their roles in the success of our mission and the translation of these skills into relationships, family and marital life.

We hosted a Men’s Breakfast meeting during June 2023 which was open to the general public. The focus of this event were the subjects of fatherhood and male health. This event was well attended and we received support from affiliated ministries to make this event a success.

5

TEMPLE OF GRACE

REPORT OF THE TRUSTEES Year ended 31 MARCH 2024

We held a Women’s Breakfast meeting in July 2023 which focused on the topics of women’s health and motherhood, and their relevance to both family and the mission of the church.

We held a Youth breakfast program as part of a Youth Week celebration where young people from the Sheffield community as well as from Lincoln and Manchester came together to interact with one another, discuss on various trending topical issues which impacted the development wellbeing of Youth, played games and also networked.

We instituted a leadership training programme in March 2024 to equip the leaders in our church with the skills they need to support the church mission and operate effectively within their areas of responsibility.

PASTORAL CARE

We continued to prioritise the support of members in challenging circumstances and situations. Visitation was a key channel through which our interaction and outreach with members was maintained.

We continued to remain accessible to members through maintaining the opening hours of the church office.

The improvement in the impact and reach of our Youth fellowship continued during the year. The numbers in this area increased and the attendance to services saw a marked improvement. We are investigating the possibility of setting up additional youth ministries in university campuses in and around Sheffield. We currently have one in the University of Lincoln.

COMMUNITY PARTICIPATION

Our doors were and are continuously open to members of our local community, and we always reach out with all our activities.

Our community participation in this year has also continued to shape our church story and generate positive experiences. We continued the facilitation of our channels of support and outreach and extended invitations to the wider community. We saw promising levels of engagement and new member attendance.

We continued the utilisation of our online tools to hold services and meetings. Our online radio station Channel of Mercy which has been a vibrant tool for our outreach is being restructured with the intention of improving its underlying technology. We currently utilise recorded messages to maintain our online presence.

The feedback gathered indicates that we are having a positive impact on our audiences.

PRAYER AND WORSHIP

Our emphasis on prayer continued through the year. We continued to run our weekly Friday prayer meetings on Zoom. We introduced dawn meetings during which we gathered and prayed between 5 am and 6 am. Members reported feeling well supported through our prayer sessions and the attendance to these sessions has increased significantly with the inclusion of nonmembers. We continue to extend invitations to the wider community.

We are in the process of considering the best way to evolve to in-person meetings. The transition process will likely involve a series of hybrid meetings during which we will have to maintain a balance between the existing online sessions and the demands of in-person meetings.

MISSION AND OUTREACH

Our evangelism and outreach activities continue to yield good results. We continue to work with the church leadership to investigate the development of this avenue into an effective tool for our church growth.

6

REPORT OF THE TRUSTEES Year ended 31 MARCH 2024

TEMPLE OF GRACE

Our social media outreach work was driven mostly by our Youth Ministry and we have seen our following grow particularly on university campuses.

We continued to hold “Family and Friends” days where members are encouraged to invite their families and friends to church services and events. These events have contributed greatly to our attraction of new members.

We continue to hold monthly outreach events through our men, women and youth departments to create community awareness and engagements with the hope that these will lead to increases in our numerical strength and overall community impact.

PLANS AND PROJECTS

Our objective remains the development of a church for all people and nations. The increase in our numerical strength remains a priority. We are also prioritising the increase in our reach and impact within the communities we engage with. We have planned our operations in the coming year to address this.

We are putting time and effort into the development of leadership capacity within our departments, with a focus on the youth ministry and outreach work. We are also planning an increase in the holding of joint services with our Lincoln branch to increase the cohesion and interaction between our branches.

As part of strategising our outreach work, we are planning to investigate increased collaboration with other churches and ministries that share our core values. This will be done with a view to increasing our impact and visibility within our catchment areas.

The holding of cross-cultural and community-based events yielded positive feedback and outcomes and we intend to expand our activities in this area. Possible events include international day celebrations, family empowerment programs and youth outreach programmes.

FINANCIAL REVIEW

Responsibilities for the Financial Statements

Charity and Company law require the Trustees to prepare the financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of its financial activities for the year. In preparing those financial statements the Trustees:

The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charity. The Trustees are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud or other irregularities.

Audit Exemption

The Trustees who held office at the date of approval of this Trustees’ Report confirm that they have taken advantage of the SORP regulations concerning small charities and have thus not organised an audit. They have instead opted for an Independent Examination. They also confirm

7

REPORT OF THE TRUSTEES Year ended 31 MARCH 2024

TEMPLE OF GRACE

that in so far as they are individually aware, the accounts of the charity are a true and fair reflection of the activities of the charity during the year under review.

Review

The year under review has seen us increase our focus on strengthening the finances of our charity whiles making progress in our mission in the midst of significant financial challenges. We worked with the leadership team to effectively manage our finances and ensure our operations were effective and we remained sufficiently resourced to deliver our services to our members. We kept our monitoring focussed on the sustainability, growth and expansion of the church while improving cost efficiency.

Incoming Resources

The primary source of the Charity’s income remains the offerings and donation of members. Total incoming resources for the year amounted to £61,558 (2023 – £51,928).

Resources Expended

Resources expended during the year under review amounted to £57,433 (2023 - £52,590).

Net position

We recorded a surplus net position of £4,125, which contributed to the positive general reserve position.

Reserves

We received information from our landlord that indicated that we had been granted a discount on our rent in a prior year that we have been unaware of. We thus restated the accounts of the prior year and adjusted the rent creditor. This resulted to an improvement in our general reserve position. The Charity thus finds its funds in surplus at the end of the year under review after having held a deficit position in the previous year.

The trustees are continuing the adoption of plans and operational adjustments that ensure the Charity can meet its obligations as they fall due, remains a going concern and eventually generates surpluses that will restore its fund balances to positive levels.

Reserves Policy

The Trustees of the Charity are working towards holding at least three months of operating expenditure as free reserves. This sum is currently estimated to be £7,000.

Equal Opportunities

The Charity is committed to a policy of equal opportunities in the selection, training, career development and promotion of all people, regardless of gender, marital status, race, colour, religion, disability or sexual orientation. The Charity endeavours to enable people with a disability

to participate fully in organisational activities, consistent with their ability, so that they can maximise the use of knowledge, experience and skills in the Charity’s work.

Employee Involvement

The Charity is mostly run by volunteers. The Charity encourages all volunteers to be fully involved in the performance and objectives through a range of mechanisms. Team meetings are held monthly and there are regular cell meetings. In addition, seven working groups have been

8

REPORT OF THE TRUSTEES Year ended 31 MARCH 2024

TEMPLE OF GRACE

created to ensure communication and coordination across different areas of work and to engage all voluntary staff more actively in projects, programmes and policy development.

By Order of the Board

David Kafui Chair of Trustees Dated – 07/01/2025

9

INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES

The charity's trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (“the Charities Act”) and that an independent examination is needed.

It is my responsibility to:

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 items or disclosures in the accounts and seeking explanations from the 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 ‘true and fair’ view and the report is limited to those matters set out in the statement below.

The trustees have been advised on the ways in which their procedures can be upgraded and the establishment of reliable personnel in the operations of the charity.

In connection with my examination, no material matters have come to my attention which gives me cause to believe that in any material respect:

Mr Johnson Akpebu- FCCA, MBA(Fin) Independent Examiner 127 Sewell Road London SE2 9DH Dated:07/01/2025

10

INCOME AND EXPENDITURE ACCOUNT Year ended 31 MARCH 2024

TEMPLE OF GRACE

SOFA
Incoming Resources
Outgoing Resources
Governance Costs
Net Incoming/(Outgoing ) Resources
Fund Balances Brought Forward
Fund Balances Carried Forward		 2024
£
£61,558
£57,433
£0
£4,125
£3,975
£8,100		 2023
as restated
£
£51,928
£52,590
£0
-£662
£4,637
£3,975

The Charity has no recognised gains or losses other than as stated above. All of the activities represent continuing activities of the Charity.

The Accounting Policies and Notes on pages 13 to 16 form part of these financial statements.

11

TEMPLE OF GRACE

BALANCE SHEET At 31 MARCH 2024

FIXED ASSETS
CURRENT ASSETS
Bank
4,529
Debtors
7,920
Creditors (less than 1
year)
NET ASSETS
RESERVES
General Reserves b/fwd
Surplus/Deficit for the
year		 2024
£
0

1,180

6,870
12,449
-4,349
8,100
3,975
4,125
8,100		 2023
as restated
£
0


8,050
-4,075
3,975
4,637
-662
3,975

There was a net deficiency of assets of £6,788 at the balance sheet date, however the trustees have performed an assessment and consider the Charity retains sufficient resources to remain a going concern. Further details of this assessment can be found in the note on Going Concern.

Approved and authorised for issue by the Board of Trustees on 07/01/2025 and signed on its behalf by:

David Kafui Chair of Trustees

The Accounting Policies and Notes on pages 13 to 16 form part of these Financial Statements.

12

TEMPLE OF GRACE

ACCOUNTING POLICIES Year ended 31 MARCH 2024

Basis of Preparation of Financial Statements

The Financial Statements are prepared under the historical cost basis of accounting and in accordance with the Statement of Recommended Practice, Accounting and Reporting by Charities, the Charities’ SORP, issued in March 2005, and applicable United Kingdom Accounting and Financial Reporting Standards.

Going Concern

It is the opinion of the Trustees that the use of the going concern basis of accounting is appropriate even though the liabilities of the Charity exceed its assets because:

  1. the significant creditor of the charity has agreed to be paid in irregular instalments depending on the financial position of the charity.

  2. there is reasonable expectation that the Charity has the ability to generate adequate resources to meet operational expenditure for the foreseeable future.

  3. the trustees undertake to supply funds to enable the charity to meet its obligations that exceed its immediate resources for the next 18 months.

The trustees thus consider that any existing uncertainties do not hamper the ability of the Charity to remain a going concern in compliance with FRS102 (paragraph 3).

The specific accounting policies adopted are set out below:

Incoming Resources

These comprise donations and gifts. Income is recognised in full as incoming resources in the accounts as soon as it is receivable, and the charity can establish a claim to it.

Resources Expended and Basis of Allocation of Costs

Expenditure is allocated to expense headings either on a direct cost basis or apportioned according to a percentage allocation agreed by the Trustees to reflect the proportion of time spent on direct charitable activities.

Governance costs are those incurred in the safeguarding of the charity’s assets (audit/legal and professional) and constitutional and statutory requirements. All Trustees volunteer their time and efforts and receive no payment or consideration for these.

Tangible Fixed Assets

Depreciation is provided on all tangible fixed assets with a cost in excess of £250 (furniture, fixtures and fittings and computer and information technology equipment) at rates calculated to write off the cost of each asset less its estimated residual value evenly over its estimated useful life, which is considered to be 4 years for each asset. Assets purchased for project purposes are expended when purchased.

Funds

Fund balances comprise the balance of donations, gifts, offerings and loans where the purpose for which the income may be used has not been restricted by the donor. Periodically, the Trustees may designate unrestricted funds for specific purposes.

There were no Restricted Funds received in the year under review.

13

TEMPLE OF GRACE

ACCOUNTING POLICIES Year ended 31 MARCH 2024

Taxation

As a registered charity, Temple of Grace is generally exempt from Corporation Tax. The Charity is not registered for VAT, and any irrecoverable VAT is included with the cost of those items to which it relates.

Operating Leases

Rentals payable under operating leases are charged to the SOFA as incurred.

Foreign Currencies

Transactions in foreign currencies are recorded using the rate of exchange ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated using the rate of exchange ruling at the balance sheet date and the gains or losses on transactions are included in the statement of financial activities.

Trustee Remuneration

No trustees received any remuneration for any services during the year under review.

Related Party Transactions

There were no related party transactions during the 2020 year.

14

TEMPLE OF GRACE

NOTES TO THE ACCOUNTS Year ended 31 MARCH 2024

SOFA- Note
INCOME
EXPENDITURE
Office Equipment
Repairs & Maintenance
Pastors Emoluments
Utilities / Bills
Administrative Expenses
Rent
Surplus/Deficit
FIXED ASSETS NOTE
COST
B/f
Additions
Totals
DEPRECIATION
B/f
Annual Charge
Totals
NBV		 2024
2023
as restated
61,558
51,928
£
£
0
2,513
0
245
25,880
25,927
6,404
8,085
11,331
3,600
13,818
12,220
57,433
52,590
4,125
-662
Computers
Equipment
TOTAL
£
£
£
345
10,517
10,862
0
0
0
345
10,517
10,862
345
10,517
10,862
0
0
0
345
10,517
10,862
0
0
0		 2023
as restated
51,928
£
2,513
245
25,927
8,085
3,600
12,220
52,590

15

NOTES TO THE ACCOUNTS Year ended 31 MARCH 2024

TEMPLE OF GRACE

DEBTORS NOTE 2024 2023
Other Debtors 7,920 6,870
Total Debtors 7,920 6,870
CREDITORS NOTE 2024 2023
as restated
Rent Creditor 4,349 4,075
Total Creditors 4,349 4,075

The rent creditor was restated from the prior year as a result of information received from the landlord.

16