## **RHEMA HOUSE OF FAITH** **Trustees Report & Accounts 30[th] June 2024** Presented to: Church Council _**Rhema House of Faith 3 Eldertree Place Mitcham Surrey CR4 1AH**_ RHEMA HOUSE OF FAITH TH REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE, 2024. The trustees of the charity present their report with the financial statements of the charity th for the year ended 30 June, 2024. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities, issued in March 2005. REFERENCE AND ADMINISTRATIVE DETAILS: Registered Charity Number: 1150247 Registered Office: 3 Eldertree Place Mitcham Surrey CR4 IAH Trustees: Rev. Dennis Obuobisah Mrs Lucy Obuobisah Mr Albert Okoe-Brown Trustee (Chairman) Trustee Trustec Independent Examiners: Kaxton Advisory Ltd Suite 6 The Generator Business Centr¢ Surrey CR4 3FH Bankers: Natwest Bank 282 London Road, Mitcham Surrey CR4 2ZP STRUCTURE, GOVERNANCE AND MANAGEMENT: Governance The church is governed by a Constitution and the Church Council, as defined by the Charitics Act 2011. Membership of trustee board: The trustees of the charity are also voluntary trustees for the purposes of charity law and under the charity's Constitution are known as members of the Tn]stees Board. Induction and training of trustees All trustees are familiar with the practical work of the church and have undertaken training to support their role. Organizational structure The Trustee Board meets quarterly and report is given at each meeting. The Pastor has the responsibility for the day to day operational management of the church supported by the Assistant Pastor elected. Risk management The Trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and Crror. Internal control risks are minimized by the implementation of procedures for authorization of all transactions and projects. Procedures and risk assessments are in place to ensure compliance with Health and Safety of volunteers; members; children; and visitors to the church. OBJECTIVES AND ACTIVITIES: Objectives - For the Benefit of ihepublic a) To advance the Christian faith in accordance with the statement in such ways in such parts of the United Kingdom or the world as the Church Council from time to time may deem fit. b) To r¢li¢vc sickncss and financial hardship and to promote and preserve good health by the provision of funds, goods or services of any kind including through the provision of counseling and support in such ways and in such parts of the United Kingdom or the world as the Church Council from time to time may deem fit c) To advancc education in such ways and in such parts of the Unitcd Kingdom or the world as the Church Council from time to time may deem fit. ACHIEVEMENTS AND PERFORMANCE IN THE YEAR: ACHIEVEMENTS al The House of Faith as a Pentecostal Evangelical Bible believing Church based in England, which started with a handful of members has grown tremendously over a short time in evangelism. bl Donation to orphanages and the needy in Ghana by s¢nding new and used clothing for use by all identified to be in need. c) We donated Bibles and Bible story books to the children and youth of the church throughout the year. d) The church continually to supports the spiritual and physical needs of the community in Mitcham and its environments. e) The church has invested in musical instruments to aid praise and worship. Youth empowerment is at the heart of the trustees of the church so the youth are being supported to train as organists and instrumentalists. PERFORMANCE: In a typical day of service, we invite resource persons and pastors to preach the gospel of Christ to the community and scrve its needs. The church has been working hard to train pastors to be ordained to evangelize to the community and beyond and win souls for the kingdom of God. FINANCIAL REVIEW: Church Finances.. The church finance committee was responsible for the financial planning during the year. The church was ablc to rais¢ £32,416 within the year which resulted in a surplus of £961. This is a rise of the previous year's incoming resources. STATEMENT OF TRUSTEES RESPONSIBILITIES The trustees are responsible for preparing the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice (UK GL4P). Charity law requires the trustees to prepare financial statements for each financial year. Under that law the trustees have elected to prepare the fmancial statements in accordance with the United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). The financial statcmcnts are required by law to give a true and fair view of the state of affairs of the charitable company and of the surplus or deficit of the charitable company for that period. In preparing those financial statements, the trustees are required to i. Select suitablc accounting policies and then apply them consistently. 2. Make judgmcnts and estimates that arc reasonable and prudent. 3. Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. STATEMENT AS TO DISCLOSURE OF INFORMATION TO INDEPENDENT EXAMINERS So far as the trustees are aware: there is no relevant infornlation of which the charity's independent ¢xamin¢rs ar¢ unawar¢, and each trustc¢ has taken all the steps that the), ought to have taken as a trustee in order to make them aware of any examination inforn]ation and to establish that the charity s independent examiners are aware of that inforn]ation. INDEPENDENT EXAMINERS The independent cxamin¢rs: Kaxton Advisory Ltd.. will be proposed for re-appointrncnt at the forthcoming Annual General Meeling. 11 th Trnstees oard: Ih 20 April, 2025. INDEPEIYDENT EXAMIIYER'S REPORT TO THE TRUSTEES OF RHEMA HOUSE OF FArrH I report on the accounts of the Church for the >"ear ended 30 June, 2024 ivhich comprise the Statement of Financial Activities, the Balance Sheet and related notes set out on pages 8 to13 This report is made solely to the Trustees Board in accordance with Section 145 of the Charities Act 201 I. M}. V¥'ork has been undertaken so that I might state to the charity's trustees those matters l am required to state to them in an Independent Examiner's report and for no other purpose. To the fullest extent perniitted b). laiw. I do not accept or assume responsibility to anyone other than the Church and the Church's trustees for my examination work. Respective responsibilities of Trustees and Examiner The Church's trustees are responsible for the preparation of the accounts. They 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: Examine the accounts (under Section 145 of the Charities Act); To follow the procedures laid down in the General Directions given by the Charity Commissioner (under Section 145(5)(b) of the Charities Act). and To state ivhether 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. Commissioner. An examination includes a revieM' of the accounting records kept by. the Church and a comparison of the accounts presented H ith 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 ivould be required in an audit, and consequently no opinion 15 given as to ii"hether the accounts present a "true and fair, view and the report is limited to those matters set out in the statement below. Independent Examiner's slatement In connection with my examination, no matter has come to my attention: l. Which gives me reasonable cause to believe that in any material respect the requirements '. Ito keep accounting records in accordance with Section 130 of the Charities Act 'and J. to prepare accounts wbich accord with the accounting records and comply with the accounting requirements of the Clwities Act have not been met" or 2. to which. in my Opinio￿ attention should be drawD io orderto enable a proper UnderSL￿ding of the accounts to be reached. KAxfoN ADVISORY LTD SUITE 6 THE GEIYERATOR BUSINESS CENTRE SURREY CR4 3FH Slgned:.. RHEMA HOUSE OF FAITH STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30TH JUNE 2024 2024 2023 Note General Restricted Total Total INCOMING RESOURCE Voluntary Income 32,416 32,416 24,220 Totsl 32,416 32,416 24,220 RESOURCES EXPENDED Management and Administration Total Resources Expended 31,455 31,455 31,455 24,163 31,455 24,163 NET INCOMING RESOURCE 961 961 57 Net Movement in Funds 961 961 57 Balance Brought Forward Transfers Balance Carried Forward 22,351 22,351 22,294 23,312 23,312 22,351 RHEMA HOUSE OF FAITH BALANCE SHEET AS AT 30TH JUNE 2024 2024 2023 Note Non-current Assets: Fixed Tangible Assets 572 223 Current Assets NATWEST Bank 23,238 22,626 Creditors Amounts falling due within one year Net Current Assets 498 22,740 498 22,128 Net Assets 23,312 22,351 Funds General Restricted 23,312 22,351 23,312 22,351 Approved by the board Council on 2110412025 And signed on its behalf by astor Dennis Ubuobis ori rge) ( Treasurer) A£3eAt NOTES TO THE FINANCIAL STATEMENTS: I. ACCOUNTING POLICIES The financial statements have been prepared in accordance with applicable accounting standards and the Charities SORP. Basis of Accounting: The financial statements have been prepared under the historical cost convention except for the valuation of inv¢stm¢nt assets, which arc show at market value. Th¢ financial statements include all transactions. assets and liabililies for which the Church Council is responsible in law. They do not include the accounts of church groups that owe their main affiliation to another body nor those that are infonnal gatherings of church members. Incoming Resourees: All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies ar¢ applied to particular categori¢s of income. Voluntary Income is received by way of collection of alms, tithes, special appeal for funds, donations and gifts and is included in full in the statement of financial activities when rec¢ivabl¢. Grants where ¢ntitl¢m¢nt is not conditional on th¢ delivery of specific performance by the charity are recognized when the charity becomes unconditionally entitled to the grant. Donated scrviccs and facilitics arc included at the value to th¢ charity Whe￿ this can be quantified. The value of services provided by volunteers has not been included. Gifts donated for resale are included as incoming resources within the activities for generating funds when thcy arc sold. Income from investment is included in the year in which it is receivable. Resources Expended: Expenditure is recognized on the accrual basis as a liability is incurred. Expenditure included any VAT which cannot be fully recovered: and is reported as part of the expenditure to which it relates. Costs of g¢n¢rating funds compris¢ the costs associatcd with attracting voluntary income and costs of trading for fundraising purposes including the charity's shop. Charitable expenditure comprises of those costs incurred by the charity in the delivery of its activities and services for its bcn¢ficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Governance costs are those costs incurred in support of expenditure on the objects of the charity and include project management. 10 RHEMA HOUSE OF FAITH NOTES TO THE FINANCIAL STATEMENTS - 30TH JUNE 2024 INCOMING RESOURCES 2024 Total 2023 Total General Restricted Voluntary Income General Fund Offering Tithe Other 11,639 15.751 5,026 32,416 11,639 15.751 5,026 32,416 8,974 10,309 4,937 24,220 Totsl 32,416 32,416 24,220 li RHEMA HOUSE OF FAITH NOTES TO THE ACCOUNTS- 30TH JUNE 2024 3:RESOURCES EXPENDED 2024 Total 2023 Total Mana ement & Admin Charitable Donation Evangelism Rent Accountancy Fee Welfare Pastoral Expenses Administrative Expenses Instrumentalist Printing & Stationery Transport Social Activities Children Iyouth Expenses Depreciation Telephone & Postage 3,450 400 6,000 1,252 300 2.050 234 6.650 3.450 400 6,000 1.252 300 2,050 234 6.650 1,240 6,000 498 3.608 1,900 300 5,500 394 710 300 2,600 663 450 24,163 1.300 5,600 4.000 101 118 31,455 1,300 5,600 4.000 101 118 31,455 12 RHEMA HOUSE OF FAITH MINISTRIES NOTES TO THE ACCOUNTS- 30TH JUNE 2024 5: FIXED ASSETS Com uter I Printer Musical Cost at start Additions Disposal Balance as at 30th June 2024 495 4,570 450 5,065 450 495 5,020 5,515 DepreciationlRate As at 1 st July 2023 Charge for the year Balance as at 30th June 2024 273 33 306 4,569 68 4,637 4,842 101 4,943 Net Book Value As at 1 st July 2023 As at 30th June 2024 222 189 223 572 383 13