## **KPI MINISTRIES**
## **FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 31[st ] DECEMBER 2023**
## **CHARITY NUMBER: 1150635**
**COMPANY NUMBER: 08056915**
## **KPI MINISTRIES**
||**INDEX**||
|---|---|---|
|||**Page**|
|**Legal & Administrative Details**||**1**|
|**Trustees Report**||**2 – 3**|
|**Independent Examiner’s Report**||**4**|
|**Statement of Financial Activities**||**5**|
|**Balance Sheet**||**6**|
|**Notes on the financial Statements**||**7 -9**|
## **KPI MINISTRIES**
## **LEGAL & ADMINISTRATIVE DETAILS YEAR ENDED 31[ST] DECEMBER 2023**
## **ADDRESS FOR CORRESPONDENCE**
22 HUGHES WALK CROYDON CR0 2TR
## **REGISTERED CHARITY NUMBER**
1150635
## **REGISTERED COMPANY NUMBER**
08056915
## **GOVERNING DOCUMENT**
MEMORANDUM AND ARTICLES OF ASSOCIATION INCORPORATED 3 MAY 2012.
## **TRUSTEES/ DIRECTORS**
MR GEORGE YEBOAH MS AKUA SEFAAH MS YVONNE OWUSU- SEKYERE MR QUOPHI KWANING- BOAITEY
**PRINCIPAL BANKERS**
LLOYDS BANK PLC GEORGE STREET P.O. BOX 1000 BX1 1LT
## **INDEPENDENT EXAMINER**
NF FINANCIAL SOLUTIONS LTD C/O GOOD TO GIVE LTD SUITE7 FIFTH FLOOR WEST WORLD W5 1DT
**1**
## **KPI MINISTRIES**
## **TRUSTEES’ REPORT YEAR ENDED 31[st ] DECEMBER 2023**
The trustees are pleased to present their report for the year ended 31[st ] December 2023 for the charity, KPI Ministries with Charity Number 1150635 and Company Number 08056915.
The Trustees of the charity are: MR GEORGE YEBOAH MS AKUA SEFAAH QUOPHI KWANING-BOAITEY YVONNE OWUSU-SEKYERE
The principal address of the charity: 22 HUGHES WALK
CROYDON SURREY CR0 2TR
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
The Charity governing document is a Memorandum and Articles incorporated 3[rd ] May 2012 as amended by special resolution(s) dated 19/01/2013 as registered on Companies house on 25/01/2013.
## **OBJECTIVES AND ACTIVITIES**
The Objects of the organisation are to advance the Christian religion for the benefit of the public through the holding of prayer meetings, lectures, producing and/or distributing literature on Christianity to enlighten others about the Christian faith. 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 held successful meetings through the year in which individuals were equipped and educated on the principles and doctrines of the Christian faith. These meetings were very beneficial to members of the community and the church experienced numerical growth as a result of these meetings. The public continue to benefit from the edifying and improving effect they receive from the worship services.
**2**
## **FINANCIAL REVIEW**
The income of the charity is £97,902 (2022: £72,089). A reduction in the previous year due to the Pandemic. The costs have been well managed over this period. The organisation is still in a good position to manage its costs. The main costs of the organisation were salaries and paying for the hall that it uses as a place of worship.
## **FUTURE DEVELOPMENTS**
The church plans to continue working towards securing a more permanent building for use for its worship services and plans to continue to benefit the public with its services which has made a great positive impact in the community.
## **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 has 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:
1. Select suitable accounting policies and apply them consistently.
2. Make judgements and estimates that are reasonable and prudent.
3. State whether the applicable accounting standards have been followed.
4. 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 and signed on their behalf by: George Yeboah - 02/09/24
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3
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## **KPI MINISTRIES (COMPANY LIMITED BY GUARANTEE)**
## **Independent Examiner’s Report to the Trustees**
I report on the accounts of the company for the year ended 31[st ] December 2023 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 (who are also directors of the company for the purposes of company law) of the church are responsible for the preparation of accounts: the trustees consider that an audit does not apply for this year under section 144(2) of the Charities Act 2011. Having satisfied that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:
- Examine the accounts under section 145 of the 2011 Act.
- Follow the procedures laid down in the General Directions given by the Charity Commissioners made under section 145(5)(b) of the 2011 Act.
- 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 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.
## **Independent examiner’s statement**
In the course of my examination, no matter has come to my attention;
- (1) which gives me reasonable cause to believe that, in any material aspect, the requirements:
- to keep accounting records in accordance with section 386 of the Companies
- Act 2006: and
- accounts are prepared which agree with the accounting records and comply
with the accounting requirements of section 36 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities have not been met or
- (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
02 September 2024
**Basthiyan K. A. C. S. Rodrigo** ( Bsc Accountancy, MBA, ACASL, FFA/FIPA) Director
NF Financial Solutions Ltd
C/O Good to Give Ltd
**4**
## **KPI MINISTRIES COMPANY LIMITED BY GUARANTEE Statement of Financial Activities for the year ended 31st DECEMBER 2023**
|||**Unrestricted**|**Unrestricted**|**Total Funds**|**Total Funds**||
|---|---|---|---|---|---|---|
|||**Funds**|**Restricted**||**2023**|**2022**|
|**Incoming Resources**|Note|**£**|**£**|**£**|**£**||
|**from generated funds**|||||||
|Donations and Legacies|**2**|97,902|
-||97,902|72,089|
|Investment income||-|||-|-|
|||97,902|
-||97,907|72,089|
|_Other Income_|||||||
|Other|**2**|-|||-|-|
|**Total Incoming**||97,902|-||97,902|72,089|
|**Resources**|||||||
|**Resources Expended**|||||||
|**Charitable activities in**|**furtherance of objectives**||||||
|Cost of Activities|**3**|63,678|
-||67,678|73,734|
|**Governance**||1,440|||1,440|1,440|
|**Total Resources**||65,118|
-||65,118|75,174|
|**Expended**|||||||
|**Net movement in funds**||**32,783**|
**-**||32,783|(3,086)|
|**Reconciliation of Funds**|||||||
|Total Funds brought forward||101,592|
-||101,592|104,678|
|**Total Funds carried forward**||**134,376**|**-**||**134,376**|**101,592**|
The above funds are all classed as to purpose. All movements of funds and all recognised gains and losses are included above. The notes on the accounts form part of these accounts.
**5**
## **KPI MINISTRIES COMPANY LIMITED BY GUARANTEE Balance Sheet as at 31st DECEMBER 2023**
|**Notes**
**Fixed Assets**
Tangible fixed assets
**4**
**Current Assets**
Cash at bank and in hand
Debtors & prepayments
**5**
**Creditors: amounts falling due within one**
**year**
Creditors & accruals
**6**
**Net Current Assets**
**Total Assets less Current Liabilities**
**Creditors: amounts falling due after one year**
**Loans**
**7**
**Total Assets**
**General Funds**
Unrestricted funds
Restricted funds
**Total Funds**|**2023**
**£**
3,394
43,746
99,500
143,246
( -)
**143,246**
**146,569**
12,194
**134,376**
109,161
25,215
**134,376**|**2022**
**£**
4,053
20,893
93,500|
|---|---|---|
|||114,393
(166)
**114,222**|
|||**118,276**
16,687|
|||**101,592**|
|||76,377
25,215
**101,592**|
02/09/24 Approved by the trustees on …………… and signed on their behalf by: George Yeboah
The notes on these accounts form part of these accounts
**6**
## **KPI MINISTRIES**
## **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31[ST] DECEMBER 2023**
## **1.1 Basis of Accounting**
These accounts have been prepared under the historic cost convention with items Recognised at cost or transaction values otherwise stated in the relevant note(s) to These accounts. The accounts have been prepared in accordance with: The Statement of Recommended Practice: Accounting and Reporting by Charities Preparing their accounts in accordance with the Financial Reporting Standard Applicable in the UK and Republic of Ireland (FRS102) issued on 16 July 2014.
**1.2 Going Concern:** The accounts are prepared on a going concern basis.
**1.3** The accounts present a true and fair view and no change have been made to the accounting policies adopted.
**1.4** No changes to the accounting estimates have occurred in the reporting period
**1.5** No material prior year error has been identified in the reporting period.
## _Recognition of Income_
These are included in the Statement of Financial Activities (SOFA) when:
- The charity becomes entitled to resources;
- It is more likely than not that the trustees will receive the resources;
- The monetary value can be measured with sufficient reliability.
## _Grants and Donations_
Grants and Donations are only included in the SOFA when the general income recognition criteria are met (5.10 to 512 FRS102 SORP)
.
## _Tax reclaim on donations and gifts_
Gift Aid receivable is included in the income when there is a valid declaration from the donor. Any gift aid amount recovered on a donation is considered to be part of that gift and is treated in addition to the same fund as the initial donation unless the donor or the terms of the appeal have specified otherwise.
## **EXPENDITURE AND LIABILITIES**
## _Liability Recognition_
Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty.
## _Grants and Support Costs_
Support costs have been allocated between the governance costs and other support. Governance costs comprise all costs involving public accountability of the charity and its compliance with regulation and good practice.
**7**
## **KPI MINISTRIES**
## **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31[ST] DECEMBER 2023**
## _Creditors_
The charity has creditors which are measured at settlement amounts less any trade discounts.
## **ASSETS**
## _Tangible Fixed Assets for use by the charity_
They are capitalised if they can be used for more than one year. They are valued at cost. The depreciation is calculated at 20% reducing balance method.
## _Debtors_
Debtors are measured on initial recognition at settlement amount. Subsequently they are measured at cash.
.
## **2 Voluntary Income/ Other Income**
|Offerings
Gift Aids
Other activities
**Total**|**Unrestricted**
**Restricted**
**Total**
**Total**
**2023**
**2023**
**2023**
**2022**
£
£
£
£
90,877
-
90,877
66,553
7,025
-
7,025
5,425
-
-
-
-
**97,902**
**-**
**97,902**
**72,089**|
|---|---|
## **3. Cost of activities in furtherance of Charity's Objectives**
|Hall Hire
Donations
Bank charges
Office Rent
Loan Interest
Pastoral Services
Depreciation
Church expenses
Total|**2023**
**£**
8,180
2,704
729
6,140
417
37,800
730
12,732
**63,678**|**2022**
**£**
7,840
6,300
672
6,790
587
37,800
1,013
12,732
**73,734**|
|---|---|---|
**8**
**KPI MINISTRIES NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31[ST] DECEMBER 2023**
## **Trustee Remuneration**
The trustee Pastor George Yeboah was paid on subcontracted out basis £37,800 during the financial year for pastoral services rendered to the church on a full-time basis (2021, £37,801)
No other trustee received payments or any other personal benefits from the organisation All other work of the organisation was carried out by volunteers.
## **4. Tangible Fixed Assets**
|**Instrument**
**Equipment**
**Cost**
**£**
**£**
At 1/1/2023
800
20,629
Additions
At 31/12/2023
800
20,629
**Depreciation**
At 1/1/2023
746
16,630
Charge for the year
10
720
At 31/12/2023
756
17,350
**Net Book Value at 31/12/2023**
44
3,279
Net Book Value at 31/12/2022
67
4,999
**5**
**DEBTORS**
**2023**
Deposits & Other Receivables
99,500
**6**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
**2023**
Accounting services
-
**7**
**CREDITORS: AMOUNTS FALLING DUE AFTER ONE YEAR**
**2023**
Loans
12,194|**Equipment**
**£**
20,629|**Total**
**£**
21,429
21,429
17,376
730
18,105
4,053
5,066
**2022**
93,500
**2022**
166
**2022**
16,687|**Total**
**£**
21,429|
|---|---|---|---|
||20,629
16,630
720||21,429
17,376
730|
**9**