LIVING PRAISE TABERNACLE INTERNATIONAL
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30[th] November 2021
CHARITY NUMBER: 1150376
LIVING PRAISE TABERNACLE INTERNATIONAL FLAT 17 MANITOBA COURT CANADA ESTATE LONDON SE16 7AY
INDEX Page Index 1 Trustees Report 2 - 3 Receipts and Payments Account 4 Statement of Assets and Liabilities 5 Notes on the financial Statements 6
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LIVING PRAISE TABERNACLE INTERNATIONAL
TRUSTEES’ REPORT YEAR ENDED 30[th] November 2021
The trustees are pleased to present their report for the year ended 30[th] November 2021 for the charity, Living Praise Tabernacle International with charity number 1150376
The Trustees of the charity are: Pastor George Opoku-Ware Eric Kwabena Asante Esther Opoku-Ware Solomon George Addai
The principal address of the charity is: Flat 17 Manitoba Court Canada Estate London SE16 7AY
STRUCTURE, GOVERNANCE AND MANAGEMENT
The Charity governing document is a declaration of trust that was executed 15[th ] November 2011.The Charity is governed by a board on which the trustees are represented. It meets regularly to review, plan activities and monitor the financial position.
OBJECTIVES AND ACTIVITIES
The Objects of the organisation are first to advance the Christian faith in accordance with the statement of beliefs for the benefit in the United Kingdom and in such other parts of the world as the trustees may think fit from time to time. The trustees confirm that they have had due regard to the guidance issued by the Charity Commission on public benefit before deciding what activities the charity should undertake.
ACHIEVMENTS AND PERFORMANCE
The Organisation continues to hold successful meetings through the year in which individuals were equipped and educated on the principles and doctrines of the Christian faith. The organisation held several outreach programs which were all held online on zoom due to the pandemic.
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FINANCIAL REVIEW
The income of the charity is above £27,000. This is a higher amount for this year of the charity the costs have been well managed over this period. The organisation is still in a good position to manage its costs. The main cost of the organisation was paying for the rent of its building that it uses for worship services and the other ministry expenses
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RESERVE POLICY
It is the policy of the Charity to maintain unrestricted funds, which are the reserves of the charity at about 3 months of unrestricted expenditure .This provides sufficient funds to cover any emergency expenditures that may arise from time to time. The charity will seek to maintain this level throughout the year.
RISK MANAGEMENT
The charity have assessed all the major risks to which the charity is exposed to, in particular those related to operations and finances of the charity, and are satisfied that systems are in place to mitigate exposure to major risks.
TRUSTEE RESPONSIBILITIES
Under the Charities Act 2011,the trustees are required to prepare a statement of accounts for each accounting year which gives a true and fair view of the state of the church. They are required to:
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Select suitable accounting policies and apply them consistently.
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Make judgements and estimates that are reasonable and prudent.
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State whether the applicable accounting standards have been followed.
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Prepare financial statements on an ongoing basis.
They are responsible for keeping proper records which disclose with reasonable accuracy the finances of the church at any time and to ensure that such accounts comply with the Charities Act 1993.They also have a responsibility to safeguard the assets of the church and to take reasonable steps to detect fraud or other irregularities.
Approved by the Trustees on 22[nd] April 2022 and signed on their behalf by:
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Independent Examiner’s Report To the Trustees
LIVING PRAISE TABERNACLE INTERNATIONAL
I report on the accounts of the church for the year ended 30[th] November 2021 set out on the following pages which have been prepared on the basis of the accounting policies shown in the corresponding pages.
Respective responsibilities of trustees and examiner
The trustees of the church are responsible for the preparation of accounts: they consider that the audit requirement under section 43(2) of the Charities Act 1993 (the 1993 Act),does not apply. It is my responsibility to :
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Examine the accounts under section 43(3) of the 1993 Act.
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Follow the procedures laid down in the General Directions given by the Charity Commissioners made under section 43(7)(b) of the 1993 Act.
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State whether 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 Commissioners. An examination includes a review of the accounting records kept by the church 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 you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts.
Independent examiner’s statement
In the course of my examination, no matter has come to my attention;
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(1) which gives me reasonable cause to believe that, in any material aspect, the trustees have not met the requirements to ensure that:
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proper accounting records are kept( in accordance with section 41 of the Act)
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accounts are prepared which agree with the accounting records and comply with the accounting requirements of the Act: or
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(2) to which , in my opinion , attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Chuks Ajuka Fresh Fire Organisation Generator Business Centre 95 Miles road Mitcham Surrey CR4 3FH
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LIVING PRAISE TABERNACLE INTERNATIONAL
ACCOUNTS FOR THE YEAR ENDED 30th November 2021
| **1 ** | Receipts & Payments Account (General | Purpose Fund) | Purpose Fund) |
|---|---|---|---|
| Income Receipts | £/ 2021 | £/2020 | |
| Tithes and Offerings | 29236 | 21694 | |
| Other Income | |||
| Total Receipts | 29236 | 21694 | |
| Direct Charitable Expenditure | |||
| Hall Hire | 0 | 7637 | |
| Media services | 144 | 144 | |
| Printing, Books, Postage & Stationery | 131 | 119 | |
| Repairs and maintenance | 0 | 0 | |
| Subscriptions | 16 | 0 | |
| Events & Musicals | 703 | 0 | |
| Donations | 0 | 190 | |
| Welfare & Training expenses | 3610 | 50 | |
| Management & Admin | 85 | 30 | |
| Travelling & Substitence | 0 | 0 | |
| Storage costs | 1712 | 0 | |
| Supplies | 269 | 219 | |
| Internet | 284 | 0 | |
| 6954 | 8389 | ||
| Other Expenditure | |||
| Equipments | 240 | 804 | |
| Instrument | 0 | 100 | |
| 240 | 904 | ||
| Total Payments | 7194 | 9293 | |
| Net Receipts/(Payments) for the year | 22042 | 12401 | |
| Cash Funds brought forward | 19537 | 7136 | |
| Cash Funds at the end of the year | 41579 | 19537 |
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LIVING PRAISE TABERNACLE INTERNATIONAL
| **2 ** | Statements of Assets and Liabilities at 30th November 2021 | Statements of Assets and Liabilities at 30th November 2021 | Statements of Assets and Liabilities at 30th November 2021 |
|---|---|---|---|
| Cash Funds | Unrestricted Funds | ||
| £/2021 | £/2020 | ||
| Bank | 41579 | 19537 | |
| Total Cash Funds | 41579 | 19537 | |
| Assets Retained for the | |||
| Charity's Own use | |||
| Musical Instruments | 275 | 344 | |
| Equipments | 966 | 968 | |
| 1241 | 1312 | ||
| Liabilities | |||
| Bookkeeping services | 175 | 175 |
Approved by the Trustees and signed on their behalf:
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LIVING PRAISE TABERNACLE INTERNATIONAL
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30th November 2021
ACCOUNTING POLICIES
Basis of Accounting
These accounts have been prepared on the receipts and payments basis under section of the Charities Act 2011.
Funds
Unrestricted funds are those which can be used at the Trustees' discretion. Restricted Funds are those whose purposes have been restricted by the donor.
Staff
The church had no employees during the accounting year. All the work of the organisation was undertaken by volunteers during the financila year.
Public Benefit
The charity acknowledges its requirement to demonstrate clearly that it must have charitable purposes or aims that are for public benefit.Details of how this is achieved are provided in the Trustees report. The trustees confirm that they have paid due regard to the Charity Commission guidance on public benefit before deciding what activities the charity should undertake.
Depreciation
Depreciation is calculated at 20% reducing balance method
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