Docusign En¥ÈlopÈ ID." AB71lDD2Fc043Ca-97C-59CcoAo1cEBa Registered Charity Number 1155199 PRAISE CHAPEL RAINHAM Trustees Report and Financial Statements For The Year Ended 31 July 2021 Timi and Co. Chartered Certified Accountants Arundel Business Centre 49 Stslh)n Road Harold Wood Romford RM3 OBS
Docusign En¥ÈlopÈ ID." AB71lDD2Fc043Ca-97C-59CcoAo1cEBa PRAISE CHAPEL RAINHAM Report and a¢¢ounts Contents Page Charity information Trustees, Report Statement of Trustees, responsibilities Independent Examine$ report Statement of Financial Activities Balance sheet Noteslschedule to the financial statements
Docusign En¥ÈlopÈ ID." AB71lDD2Fc043Ca-97C-59CcoAo1cEBa PRAISE CHAPEL RAINHAM Gharity Information Trustèes Pastor Chichi Ikeotuonye Pastor Joseph Segun Alli Pastor Francis Ugbeiukwu Pastor Robert Menchaca Independont Examiner Daniel Dele-ojo FCCA Timi and Co. Axund81 Business Centre 49 Station Road Harold W¢)od Romford RM3 OBS Princlpal addre89 84 Frederick Road Rainham Essex RM13 8NR Registered number 1155199
Docusign En¥ÈlopÈ ID." AB71lDD2Fc043Ca-97C-59CcoAo1cEBa PRAISE CHAPEL RAINHAM Report of the Trustees The trustees present their annual report together with the financial statements of Praise Chapel Rainham {the charity) lor the year ended 31 July 2021. The Trustees confirm that the annual report and financial statements of the charity compty with the current statutory requirements, the requirements of the eharity's governing document and the provisions of the Stalemgnl of Recommended Practice (SORP}'Accounting and Reporting by Charities. Issued in March 2005. Praise Chapel Rainham is a charity and the Trustees of the charity exercise control. Revlew of FiTranclal Po8ft10 Please refer to the annexed accounts for the details of the financial slatements for the year ended 31 July 2021. Re8eNes Pollcy The tmstees would like to work towards a situation whereby the charity ¢ould maintain unrestricted fvnds at a level whith equates to approxlmately three months of unrestricted expenditure. Risk management The Iwslees have a duty to identify and reviéw the risks to which the ¢harfty is exposed and lo ensure appropriate controls a in place to provide reasonable assurance agalnst fraud and error. Future strategy and polley The trustees are satisfied that the charty has sufficienl resources to maintain Its current activities and hope that the congregats'on will grow and increase naturally with lime. The oryanisalion's prlncipal objects continu• to be: 1. To advance Christian religion by propagating the gosp&l o* Jesus Christ and proclaiming the Kingdom of God through preaching the word of God 2. To advan such other charitable purposes as the Trltslees shall determine particularly, but without prejudice to the generality of the foregoing. by relievin9 distress caused by disaster, povoty, and sickness. 3. The advancement of Chrisb'an religion by the worship of God, the proclamation of the Holy Spirit and the Fellowship of Mankind
Docusign En¥ÈlopÈ ID." AB71lDD2Fc043Ca-97C-59CcoAo1cEBa PRAISE CHAPEL RAINHAM Statement of Trustees, Responsibilitles The Charities Act requires the Board of Trustees to prepare financial statements for each financial y&ar which give a true and fair view of the stale of affairs of the charity as at the end of the financial year and of the surplus or deit of the charity. In preparing those financial statements the Board is qUired to.. . select suitable aecounling policies and then apply them consislenlly., make judgements and estimates that are reasonable and prudent., and prepare the financial statements on the going concem basis un18SS It is inappropriate to presume that the charity will continue in business. stale whether applicable arUntIng standards and ststements of recommended practice has been followed, subject to any matertal departures disciosed and explained in the ffinancial statements., The Trustees are also responsible for maintaining adequate accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which are sufficient lo show and explain the charity's transactions and enable them lo ensure that the financial stslements comply with regulations made under the Charities Act. 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. The trustees are also responsible for the contents of the trustees, report, and the responsibilty of the independent examiner in relation to the trustees, report is limited to examining the report and ensuring that, on the face of the repott there are no inconsistencies with the figures disclosed in the financial statements. This report was approved by the board of twstees on 28 April 2022 and signed on its bèhalf DocuS*n•dby.' 4CDA5F0202924F3 Pastor Chichi Ikeotuonye Trustee
Docusign En¥ÈlopÈ ID." AB71lDD2Fc043Ca-97C-59CcoAo1cEBa PRAISE CHAPEL RAINHAM Indend0ftt ExamIneS Report to the Irust•e8 of the charty Report of the Independent Examiner lo the trustees on th8 financial statoments of the eharlty for thè year oTrdod 31 Juty 2021 I report on the financial ststements of the Chanty on for the year ended 31 July 2021 which have been prepared in accordance with the Chanties Act 2011 and with the Financial Reporting Standard for Smaller Entrties IFRSSEI, effective April 2008, adapted lo meet th6 needs of tjnincorporated organisations, as modified by the Statement of Recommended Practice for Accounting and Reporting issued by the Charity Commissioners for England & Wales, effective April 2005 as revised in June 2008. (The SORPI, under the historical cost convention and the accounting policies sel out. R88pectlv& responslblltties of trustees and gxamlner The Charity's trustees are responsible for the preparation of the financial statements. The trustees are satisfied that the audit requirement of Section 14411} of the Charities Act 2011 Ithe Act) does not apply, and that there is no requirement in the governing document or constitution of the Charity for the conducting of an audit. Therefore, the Iruslees have elected that the financial ststements be subject to independent examirsation. Having satisfied myself that the charity ts not subie¢t to aud¢ and is eligible for independent examination, it is my responsibility lo.. al examine the accounts under section 145 ofthe Act. bl lo follow the procedures laid down in th& General Direclions gtrven by the Charity Commission under section 14515}Ib) of the Act., and.. cl to stale whether particular matters have come to my attention. Basi$ of opinion and scope of work undertakon I conducted my examination in accordance with the General Directions given by the Charity Commissioners for England & Wales in relation to the conducting of an independent examinatson, referred to above_ An independent examination includes a review of the accounb'ng records kept by the Chanty and of the accounting systems employed by the Charity and a comparison of the financial statements presented with those rerds. It also includes consideration of any unusual items or disclosures in the financial ststements and seeking explanations from you as trustees concerning such matters. The purpose of the examination is to establish as far as possible that there have been no breaches of the Charities legislatson and that the financial statements comply with the SORP, on a test basis, of evidence relevant to the amount$ and disclosures in the financial $tstemenls. The prwedures undertaken do not provide all the evidenc8 that would be required in an audi( and information supplied by the trustees in the course of the examination is not subjeGled to audit tests or enquiries, and consequenlty I do not express an audit opinion on the view given by the financial statements. and in particular, l express no opinion a$ to whether the financial statements give a true and fair view of the affairs of the Charity, and my report ss limited to the matters set out in the ststement below. I planned and perfomed my examination so as to satisfy myself Ihal the objeiveS of the independent examination are achieved and befo fillalising the r8port, l obtain writtèn assurances from the trustees of all material matters. Ind8pttnd•nt Examlnfjls Ststemenl reporL and opinlon Subject to the limitations upon the scope of rny work as detailed above, in connection with my examination. l can confim? that this is a report in respect of an examination carried out under seth.on 145 of the Act and in accordance with any direcb.ons gNen by the Commission under subse¢tion {51(bl of that section which are applicable,.
Docusign En¥ÈlopÈ ID." AB71lDD2Fc043Ca-97C-59CcoAo1cEBa PRAISE CHAPEL RAINHAM and that, no matter has come to my attention in connection with my examination which gives me asonable cause to believe that in any material respect the requirements (il to keep accounting records in accordance with section 130 of the Act., (ill to prepare financial statements which accord with the accounting records and comply with the accounting requirements of the Act and., {iii) that the financial statements be prepared in a¢Gordan¢e with the methods and principles set out in the Statement of Recommended Practice- Accounting and Reporting by Charities have not been nEt', or to which. in my opinion, attention should be drawn in my rewrt in order to enable a proper understanding of the accounts to be reached. Daniel Del&Ojo FCCA For and on behalf of Timi and Co. Chartered Certified Accountants Arundel Business Centre 49 Station Road Harold Wood Romford RM3 OBS The date upon which my opinion is expressed is on 28 April 2022.
Docusign En¥ÈlopÈ ID." AB71lDD2Fc043Ca-97C-59CcoAo1cEBa PRAISE CHAPEL RAINHAM Statsment of Financlal Actlvities for the year ended 31 July 2021 Unrestri¢ted R#5tr1ctsd Totsl Last Yr Fund• Fund4 Funds Totsl Fundi 2021 2021 2021 2020 Incomlng resources Incoming resources from genv•ted funds Voluntary Ineome Other irKome 15.199 16,250 15,199 18,250 21.454 18,450 Total Incomlng resources 31M9 31.449 39,904 Costs of ¢harltable activitles Govemonce costs 30.298 400 30,298 4(K) 35,809 400 Total resources expended 30.6g8 30,898 36,209 Net incoming resources before transfers between funds 751 751 3,695 Net incoming resources before Other recognlsed galns and losses 751 751 3,695 Net movement in fvnds 751 757 3,695 Total funds brought fonvard 5,408 339,000 344.408 340,713 Total Funds carrfed forward l159 339,000 34S,159 344,408
Docusign En¥ÈlopÈ ID." AB71lDD2Fc043Ca-97C-59CcoAo1cEBa PRAISE CHAPEL RAINHAM Balance Sheet as at 31 Juty 2021 2021 2020 Tho assets andliabllllles of the charity.. Tangible assets Totsl fix¢dass8ts 339,000 339,000 339,000 Current assets Cash at bank and in h8nd 6.959 8208 amounts within one year {800) (800) Net cuYrnntass•ts 6,159 5,408 fotalass•ts less eurrnnt Ilabllleles 345.159 344,408 Net assets Th funds of the eh•rity.' Unrestri¢ted income fund$ Unrestricted revenLte a¢¢umulated funds 6,159 5,408 Total unrestrlctsd funds 6,159 5,408 R98trlcted fixed asset Funds 339.OC4) 339,000 339,000 339,(LYJ Total charfty funds 345,159 344,408 DocuS*n•dby.' 4CDA5F0202924F3 Pastor Chichi Ikgotuonye Trustèe AppT¢ved by thè board of Iru8t8e8 on 28 Aprll 2022
Docusign En¥ÈlopÈ ID." AB71lDD2Fc043Ca-97C-59CcoAo1cEBa PRAISE CHAPEL RAINHAM Notes to the Finanual Statements for the ear ended 31 Ju 1. ACCOUNTING POLICIES 2021 Accountlng conventl¢n The financial slalements have been prepared in acryjrdance with the Financi81 Reporting Standard foT Smaller Entities {FRSSEI. effe¢tNe April 28, and all other applicable a(zounting standar(Js. as modified by the Statèrnent of Recommended Practice for Acctsuntiro and Reporting issued by the Charity Commissioner8 for England & Wales, {revised June 2(M)81. Incoming rn$ource# All incoming rèsour$ are included on the St8t•ment of F[nala1 A(aivittes when the charity is legally entitl8d lo the income and the amount can be quanlffjd wtth rea60n8ble accuracy. Regources èxpended Expenditure 15 accounted for on an acuuals basis and has ten classified under headings that aggregate 811 Cost TelatÈd to the Galegory. Vlhere costs cannot be directly attributed to particular headings, they have been allo(zted to activities on a basis condstent wrth the usè of resource$. Taxation The charity is exempt from tax on its d)aritabte a¢tivthes. Fund accounting Uniestrictgd funds can be used in aOrdan wlh th8 charrtable ot¥eclives 8t the discrètion ofthè trustees. Restricted fiJnd$ can onty be used for partitsjlar reslrtcted purposes vrithin the objects of thè ¢harity. Restrictions arise when 5peafEd by the dorhjr orwhen fvnd$ are raisgd for particuLgr restricted purposès. Further explanation of the natsjre and purpw of eath fund is included in the notes lo the finanaal ststements. Hlre purchaoe and leasing eommitmgnts Rentals paid und operat¢ng leases are charged to the statements of finanaal acuwlies on 8 Straight-line basi$ ovex the peTicKI of the lease. 2. TRUSTEES, REMUNERATION AND BENEFITS There wer no trustee8' remurigration or other benefits for the yèar ended 31 Juty 2tr21 norfor the year ended 31 July 2020. Trustees, Expens•s There Te no trustees, exrnses pgfd neither for the year ended 31 Juty 2021 for the year ended 31 July 2020.
Docusign En¥ÈlopÈ ID." AB71lDD2Fc043Ca-97C-59CcoAo1cEBa PRAISE CHAPEL RAINHAM Schedule to the Statsment of Financlal Actlvilles for the year ended 31 July 2021 Stakn$ of thls hodUle to tho Statement of Financlal Actlvltl•s The schedules on the foilowng pages are required by the disclosure requirements of tt)e Statement of Recommended Practice for Accounting and Reporting issued by the Charity Commissioners for England & Wales, effective April 2005 and revi in June 2CK)8. As such, they form a part of the accounts required by the Chaiities {AcUnts and Report8} Regulafjons 2008. UTrrestrl¢ted Restrlcted Funds Funds 2021 2021 Total Fund$ 2021 Prlor Perlod Total Funds 2020 Incomlng Resources Voluntary Income Donations Total Total Donatlons R•c¢lved 15,199 15.199 15.199 16.199 16.199 21,454 21.454 Total Voluntary Income Actlvlttes for generating funds 15,199 10.199 21,454 Other In¢ome Total of activilles for generating fund$ 16,250 16.250 16,250 16.250 18,450 18,450 Total Incoming Resources 31.449 31,449 39.904 Charitable oxpenditure Support costs of ¢harltable actlvltiès Dlr•¢tSUPPOrt costs Travel and SubsisterKe- Charitable Actlvities 325 325 325 2,359 325 Management andadministratlon costs In $upport of charftable acfvldes St•ff costs In $upportof ¢harft•ble a¢tl¥itl•s Ral¢s, water and service charges Insurance Light and heat P¥emises repairs and renewals 813 1,623 1.493 10,423 813 836 1.623 1.470 10,850 14.779 1,623 1,493 10,423 14.352 sUbsP.0ns Equipment expen3es Admin costs Spare {1) 833 833 1,008 3.200 833 1,758 3,200 1,008 3.200
Docusign En¥ÈlopÈ ID." AB71lDD2Fc043Ca-97C-59CcoAo1cEBa PRAISE CHAPEL RAINHAM Schedule to the Statement of Flnanclal Activitles for the year ended 31 July 2021 Status of th1$ Schedulo to tho Statèment of Flnan¢lal A¢tlvltlgS The schedules on the followlng pages are required by the disclosure requirements of the Stslemenl of Recommended Practice for A(Lounting and Reporting issued by the Charity Commissroners for England & Wales, effective April 2005 and revised in June 2008. As such, they form 8 part of the accounts required by the Charities (Accounts and Reports) Regulations 2008. Unrgstrfct8d Rgstrlcted Total Funds Fund$ Funds 2021 2021 2021 Prfor Period Totsl Funds 2020 Events 1,700 6.041 5.041 ProfessIonalf• ihs•Jpportof ¢lwit•blo 0th1¢1•s Accountsncy fees other than examinerslauditors Legal fees 400 680 400 680 400 680 1.080 1.080 Total Support costs 20.798 20.798 25.709 Grantmaklng to achleve the objects of tho charity Gronts paid Grants paid as shown in the detslled schedule Support costs forgrants paid 7,000 7.000 7,500 Honorarium and Missions 2,500 2,SOO 2,500 2.500 2,600 Total Expended on Charitsble Activities 30,298 30,298 35,809 Govomance costs that are not dI¢t management functions Inherenf in generating funds, servlce delivery andpmgramme orproject wo Speclfie govenmnce costs Independent Examineffs Fees 400 400 400 Totsl governance costs 400 400 400 10