2023-07-31-accounts

Docusign En¥ÈlopÈ ID." 5A89O54(k926945OE-A54￿CF352087EDBl Registered Charity Number 1155199 PRAISE CHAPEL RAINHAM Trustees Report and Financial Statements For The Year Ended 31 July 2023

Docusign En¥ÈlopÈ ID." 5A89O54(k926945OE-A54￿CF352087EDBl PRAISE CHAPEL RAINHAM Report and accounts Contents P#90 Charity information Trustees. Report Statement of Trustees, responsibilities Independent Examine¢s report Slatement of Financial Actniities Balance sheet Noteslschedule to the financial ststements

Docusign En¥ÈlopÈ ID." 5A89O54(k926945OE-A54￿CF352087EDBl PRAISE CHAPEL RAINHAM Charity Information Trustees Pastor Chichi Ikeoluonye Harold Chukwuma Pastor Francis Ugbeiukwu Indep•ndent Examiner Daniel Dele-ojo FCCA Timi and Co. Unit One Kings Estate Broadway Parade Hornchurch RM124RS Principal address 84 Frederick Road Rainham Essex RM13 8NR Registered number 1155199

Docusign En¥ÈlopÈ ID." 5A89O54(k926945OE-A54￿CF352087EDBl PRAISE CHAPEL RAINHAM Report of the Trustees The trustees present their annual reFX)rt together with the financial statements of Praise Chapel Rainham {the charity) for the year ended 31 Jtjly 2023. The Trustees confirm that the annual report and financial statements of the charity comply with the current slatulory requirements, the requir8ments of the charity's goveming document and the provisions of the Statement of Recommended Practice ISORPI 'Accounting and Repofting by Charities. issued in Ma￿h 2005. Praise Chapel Rainham is a charity and the Trustees of the charity exercise control. Review of Financial Position Please refer to the annexed accounts for the details of the financial stslements for the year ended 31 July 2023 Reserves Policy The trustees would like to work towards a situation whereby the charity could maintain unrestncted funds al a level which ￿￿ateS to approximately three months of unreslricled expenditure. Rlsk management The trustees have a duty to identify and review the risks to which the charity is exposed and lo ensure appropriate controls a￿ in pla￿ to provide reasonable assurance against fraud and error. Future strategy and policy The trustees are satisfied that the charty has sufficient resources to maintain ils current activities and hope that the congregation will grow and increase naturally with time. The organisation's principal objects continue to be: To advance Christian religion by propagating the gospel of Jesus Christ and proclaiming the Kingdom of God through preaching the word of God 2. To advance such other charitable purposes as the Trustees shall determine particularly, but wilhoul prejudice lo the generality of the ft)regoing, by relieving distress caused by disaster, povety. and sickness. 3. The advancement of Christian religion by the worship of God, the proclamation of the Holy Spint and the Fellowship of Mankind

Docusign En¥ÈlopÈ ID." 5A89O54(k926945OE-A54￿CF352087EDBl PRAISE CHAPEL RAINHAM Statement of Trustees, Responsibilities The Charities Act requires the Board of Trustees to prepare financial ststements for each financial year which give a true and fair view of the slate of affairs of the charity as at the end of the financial year and of the surplu5 or deficit of the charity. In preparing those financial statements the Board is required to.. _ select suitable accounting policies and then apply them consistently., make judgements and estimates that are reasonable and prudent,. and prepare the financial statements on the going concern basis unless It is inappropriate lo presume that the charity will continue in business. stale whether applicable accounting standards and statements of recommended practice has been followed, subject to any material departures disckxed and explained in the financial statements., The Trustees are also responsible for maintaining adequate accounting records which disclose with reasonable accuracy al any b'me the financial position of the charity and which are sufficient lo show arid explain the charity's transactions and enable them lo ensure that the financial statements 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 Iruslees are also responsible for the contents of the tfUStees' report, and the responsibility of the independent examiner in relation to the trustees, report is limited to examining the report and ensuring that, on the face of the report, there are no inconsistencies with the figures disc5osed in the financial statements. This report was approved by the board of trustees on 04 April 2024 and signed on its behalf by.. Do¢US￿￿dby'. 4CDA5F0202924F3 Pastor Chichi Ikeotuonye Trustee

Docusign En¥ÈlopÈ ID." 5A89O54(k926945OE-A54￿CF352087EDBl PRAISE CHAPEL RAINHAM Independent Examiner's R•port to the trusteos of the charity Report of the Independent Examiner to the trustees on the financial Statements of the charity for the year endod 31 July 2023 I report on the financial statements of the Charity on for the year ended 31 July 2023 which have been prepared in accordance with the Charities Act 2011 and with the Financial Reporting Standard for Smaller Enlilies {FRSSEI, effective April 2008, adapleol lo meet the needs of unincorporated organisalions, as modified by the Statement of Recommended Practi￿ for Accounting and Reporting issued by the Charity Commissioners for England & Wales, effective April 2005 as revised in June 2008. (The SORP), under the historical cost convention and the accounting policies set out. Respectlve re8pon8Sbllltles of trusteeB and examiner The Charity's trustees are responsible for the preparation of the financial statements. The trustees are satisfied that the audit reqU1￿ment of Se¢b'on 144111 of the Charities Act 2011 (the Act} does not apply, and that there is no requirement in the governing document or onslilulion of the Charity for the conducting of an audit. Therefore, the trustees have elected that the financial statements be subject to independent examin8tion. Having satisfied myself that the charity is not subject to audit, and is eligible for independent examination, rt is my responsibility to= _ al examine the accounts under section 145 of the Act., bl to follow the procedures laid down in the General Direth"ons given by the Charity Commission under section 1451Sllbl of the Act.. and., c} lo stale whether particular matters have come to my attention. Basis of opinion and scope of work undertaken I conducted my examination in accordan￿ with the General Directions given by the Charity Commissioners for England & Wales in relation to the conducting of an independent examination, referred lo above. An independent examination includes a review of the accounting records kept by the Charity and of the accounting systems employed by the Charity and a comparison of the financial statements presented with those records. 11 also includes consider8tion of any unusu81 items or disclosures in the financial statements and seeking explanations from you as trustees concerning such matters. The purpose of the examination is lo establish as far as possible that there have been no breaches of the Charities legislation and that the financial statements comply with the SORP, on a lesl basis, of evidence relevant to the amounts and disclosures in the financial statements. The prccedures undertaken do not provide all the evidence that would be required in an audit, and information supplied by the trustees in the course of the examination is not subjected to audit tests or enquiries, and consequently I do riot express an audit opinion on the view given by the financial statements, and in parb"cular, l express no opinion as to whether the financial statements give a true anrj fair view of the affairs of the chanty, and my report is limited to the matters set out in the statement below. I planned and performed my examination so as to satisfy myself that the objectives of the independent examination are achieved and before finalising the report. l obtain written assurances from the trustees of all material matters. Independent Examlnerfs Ststement, report, and oplnlon Subject to the limitations upon the scope of my work as detailed above, in connection wl(h my examination, I can confirm that this is a report in respect of an examination carried out under section 145 of the Act and in aeeordanee with any directions given by the Commission under subsection15llbl of that section which are applicable

Docusign En¥ÈlopÈ ID." 5A89O54(k926945OE-A54￿CF352087EDBl PRAISE CHAPEL RAINHAM and that, no matter has come to my attention in connecbon with my examination which gives me reasonable cause to belteve that in any material respect the requirements.. (il to keep accounting records in accordance with section 130 of the Act. (li} to prepare financial statements which accord with the accounting records and comply with the a¢counting reqUI￿rrEnts of the Act and., fiiil that the finÈncial statements be prepared in accordance with the methods alld princip￿8 sel out in the Statement of Recommended Practtce - Aco)unting and Reporting by Charities have not been met,. or to Wh￿h, in my opinion, attention should be drawn in my report in order to enable a proper understanding of the accounts to be reached. Daniel Dele-ojo FCCA For and on behalf of Timi and Co. Chartered Certified Accountants Unf( One Kings Estate Broadway Parade Hornchur¢h RM124RS The date upon which my opinion is expressed is on 04 April 2024.

Docusign En¥ÈlopÈ ID." 5A89O54(k926945OE-A54￿CF352087EDBl PRAISE CHAPEL RAINHAM Statement of Financlal Actlvities for the year ended 31 July 2023 Unrestricted Restricted Funds Funds Total Funds Last Year Totsl Fund$ 2023 2023 2023 2022 InGomlng resources Incoming resources from generatsd funds Voluntary Income Other income 30.998 10.860 30,998 10.880 25,406 9.483 Totsl incoming resources 41.868 41,858 34.889 Costs of charitablg activities Govemoncé ¢osts 31,015 400 31,015 400 28.700 400 Total resources expended 31,415 31,415 29.100 Net incoming resources before transfers between funds 10.443 10.443 5.789 Net Incoming resources before other recognlsed gains and losses 10,443 10,443 5,789 Net movement in funds 10.443 10,443 5.7e9 Total funds brought ftlnvard 5,789 339.000 344.789 339.(KK) Total Funds carried forward 16.232 339,000 366,232 344,789

Docusign En¥ÈlopÈ ID." 5A89O54(k926945OE-A54￿CF352087EDBl PRAISE CHAPEL RAINHAM Balance Sheet as at 31 July 2023 2023 2022 The assets andliathlities of the charity.. Tangible assets Total fix8d assets 339,000 339,000 339,000 339,000 Current assets Debtors Cash at bank and in hand Total currentassets 13,738 3.294 17,032 3,923 2,666 6,589 amounts due within one year 18001 1800) Net cuffentassets 16,232 5.789 Total assets less current liabilities 355,232 344,789 Net assets rho funds of th• eharity." Unrestricted income funds Unrestricted revenue acctJmulal•d funds 16,232 5,789 Total unrnstri¢tod funds 16,232 5,789 339,000 339,0 Restrictod fixed assot Funds 339.000 339,000 Total ¢harity fvnds 355,232 344,789 Do¢US￿d￿dtsy.. 4CD45F0202924F3 Pastor Chi¢hi Ikeotuonye Trwjtee Approved by the board of trustees on 4 April 2024

Docusign En¥ÈlopÈ ID." 5A89O54(k926945OE-A54￿CF352087EDBl PRAISE CHAPEL RAINHAM Notes lo the Financial Statements for the ear ended 31 Jul 2023 1. ACCOUNTING POLICIES Accounting Con￿ntiOn The financial stat￿nentS have been prepared in aGix)rdance wsth the Finanaal Reporting Standard for Smaller Entit18s IFRSSE}, effectwe April 20Q18, and all other applicable accounting standards, as mcKlified by the Statement of Recommended Practice forAccounting and Reporting issued by the Charty Commissioners for England & Wales, {revised June 2￿81. Incoming resoU￿e$ All incoming reSoUr￿S are indud&J ofi the Slalement of Finanoal Activities when the charity is1ggally entitled lo the income and the amount can be quantified with reasoTrabl8 accuracy. R&sourcas 9x￿nd9d Expenditure is acctyjnted for on an accruals basis and has been ¢18ssffied under headings that aggregate 811 eost r818ted to the category. Where costs cannot be directly attributed to particular headings, they have been allo￿ted to acfy'vit￿ ¢)n 8 basis con&5tent with the use of resources. Taxation The charity is exempt from lax on rts ¢h8ritsble 8¢tniilie$. Fund accounting Unrestricted funds can be used in accA)Tdance wf(h the charitsble oblectives at the discretion of Ihg trustees. Restricted funds can only be used for particular resth.cted purposes within the objects of the ch8rity. Reslriclions 8ri88 when speethed by the donor or when fvnds are raised for particular restricted purposès. Further explanation of the nature and purpose gf each fund is induded in the notes to the )Snancial slalements. Hirè purehasè and laasing commitments Rentals paid under operating leases are charged to the 9181ements of financyal activities on a $traight-line basis ovar the peri¢yJ of th818as8. 2. TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 31 July 2023 nor for the year gnd9d 31 July 2022. Trustees. Expenses There were no Iruslees. gxpenses paKI neither for the year ended 31 July 2023 noT for the year ended 31 Juty 2022.

Docusign En¥ÈlopÈ ID." 5A89O54(k926945OE-A54￿CF352087EDBl PRAISE GHAPEL RAINHAM Schedule to the Ststement of Flnanclal Actlvltles for the year ended 31 July 2023 Status of thls schedule to the Statement of Finantial Aetivitles The schedules on the following pages are required by the disclosure requirements of the Statement of Recommended Practice for A¢¢oLJnling and Reporting issued by the Charity Commissioners for England & Wales, effe￿1ve Aprfl 2005 and revised in June 2008. As such, they form a part of the accounts required by the Charities (Accounts and Reports) Regulations 2008. Unrestrictfjd Rostrieted Totsl Funds Funds Funds 2023 2023 Prior Perlod Total Funds 2022 2023 Incomlng Resources Voluntsry Income Donations Gift Aid Receivable Total Totsl Ihnations Received 25.208 5,790 30,998 30.998 25,208 5,790 30,998 30.998 20,086 5,320 2S.406 25.406 Total Voluntary Incorne Actlvltles ft>r generating funds 30.998 30.998 25.406 Rental Income Total of activities for generating funds 10.860 10,860 10,860 10,860 9,483 9,483 Totsl Incomlng Resources 41.858 41,858 34.889 Charltable expenditure Support ¢ost$ of charltable activifjas DiwtSUPPOrt costs Travel and Subsistence - Charitable Aclivities 3,500 3.500 3,500 3.500 1,223 1,223 Al•nagementand&dminlstratlon costs in support of eharltable activities staff Costs In $upport of charltable activitiès Premises Costs Rates, woler and service charges Insurance 908 2,412 700 2,412 700 1.623 Council Tax Light and heat Premises repairs and renewals 2,306 4.213 9.631 2,306 4,213 9.631 1,815 2.238 6,584 Ognernl odministratiye expense8.' Subscriptions 533 533 833

Docusign En¥ÈlopÈ ID." 5A89O54(k926945OE-A54￿CF352087EDBl PRAISE CHAPEL RAINHAM Schedule to the Ststement of Financial Activities for the year ended 31 July 2023 Status of th1$ schedule to the Statement of Financial Activities The sehedules on the followng pages are required by the disclosure requirements of the Statement of Recommended Practice for Accounting and Reporting issued by the Charity Commissioners for England & Wales, effective April 2005 and revised in June 2008. As such, they form a part of the accounts required by the Charibes IAGGounts and Reports) Regulations 2008. Unrestrl¢ted Restrlcted Total Funds Funds Funds 2023 2023 2023 Prlor Perlod Total Funds 2022 Equipment expenses Admin costs 900 900 2,400 3,400 6,051 2,500 9.984 6,051 2,500 9.984 Events 6,633 Pmfesslonal fees In svpportof charitable activities Accountancy fees other than examinerslaudrftors Legal fees 400 400 400 1,700 2.100 1,700 2,100 1,460 1.860 Othersupport costs Charity Honorarium 3,000 1,800 1,000 5,800 3,000 1,800 1,000 5.800 9,000 Missions 3,400 12,400 Totsl Support¢osts 31,015 28,700 Support costs forgrants paid Total Expended on Charitable Activities 31,015 31,Q15 28.700 Governanco costs that are not dirnct management fiinctions inherent in generating fiinds, serylce dellvery and pmgramme orpmject work Specific govemance costs Independent Examinerfs Fees 400 400 400 Total governance costs 400 400 10