FIRE PROMOTION MINISTRIES
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30[TH] AUGUST 2020
CHARITY NUMBER: 1159869
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FIRE PROMOTION MINISTRIES
FLAT 6 ALPHA COURT
1A HASSETT ROAD LONDON E9 5SW INDEX Pages Index 2 Trustee’s Report 3-4 Income and Expenditure 5 Statement of Assets and Liabilities 6 Receipts and Payments 7 Notes on the financial Statements 8
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FIRE PROMOTION MINISTRIES
TRUSTEES’ REPORT
YEAR ENDED 30[TH] AUGUST 2020
The trustees are pleased to present their report for the year ended 30[th] August, 2020 for the charity, Fire Promotion Ministries with charity number 1159869.
The Trustees of the charity are: Pastor Richard Elvis
Miss Prudence Agyeiwaa Amankona
The principal address of the charity is: Flat 6 Alpha Court
London, E9 5SW
STRUCTURE, GOVERNANCE AND MANAGEMENT
The Charity governing document is a CIO – Foundation Constitution registered 8[th] January 2015. The Charity is governed by a board on which the trustees are represented. It meets regularly to view, plan activities and monitor the financial position.
OBJECTIVES AND ACTIVITIES
The objectives 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.
ACHIEVEMENTS 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. The organisation held several evangelistic events during the year in which individuals came from all the community to attend. This has produced good results in reaching and helping members of the community.
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FINANCIAL REVIEW
The income of the charity is for £4,800 which was offerings received for daily and weekly meetings. This is small amount for this year of the charity, but the costs have been well managed over this period. The organisation is still in a good position to manage its costs. Most of the costs were paying for the rent of its building for worship services and church office rent.
RESERVE POLICY
It is the policy of the Charity to maintain unrestricted funds, which are the reserves of the charity at about 3 months unrestricted expenditure and part used to purchase musical instrument and equipment. This provides sufficient funds to cover any emergency expenditure 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 expected to, in particular those related to operations and finances of the charity, and are satisfied that systems are sufficient to mitigate exposure to major risks.
TRUSTEES RESPONSIBILITIES
Under the Charities Act 2011, the trustees are required to prepare a statement of accounts for each accounting year which gives a true a fair view of the state of the church. They are required to:
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1 Select suitable accounting policies and apply them consistently.
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2 Make judgements and estimates that are reasonable and prudent.
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3 State whether the applicable accounting standards have been followed.
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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 2011. They also have a responsibility to safeguard the assets of the church to take reasonable steps to detect fraud or other irregularities.
Approved by the Trustees on 24[th] March, 2021 and signed on their behalf by
Pastor Richard Elvis (Trustee)
Miss Ama Nana Kesiwaa (Trustee)
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FIRE PROMOTION MINISTRIES
UNAUDITED ACCOUNTS FOR THE YEAR ENDED AUGUST 30, 2020
1. Income and Expenditure 2020 2019 £ £ Income Received Tithes and Offering 4800 4200 Interest 0 0 Total Income 4800 420 0 Direct Charitable Expenditure Hire of Hall 3600 3200 Printing and Posters 170 140 Stationery 86 56 Telephone and Internet 410 320 Computer consumables 104 94 Bookkeeping 200 200 Total Direct Expenditure 4570 4010 Depreciation (320) (320) Surplus / (Deficit) for the year 230 (190) Surplus / (Deficit) brought forward 3330 3460 Surplus / (Deficit) C/f 3240 3330
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FIRE PROMOTION MINISTRIES
2. Statements of Assets and Liabilities at 30th August 2020
UNRESTRICTED FUND 2020 2019 £ £ Fixed Assets: Musical Instruments 530 740 Equipment 110 220 Total Fixed Asset 640 960 Current Assets Cash in hand and at bank 2600 2370 Less Short term Liabilities: Bookkeeping 0 0 Net Current Assets 2600 2370 Net Total Assets 3240 3330 Reserves Surplus B/f 3010 3460 Surplus for the year 230 (130) Net Fund 3240 3330
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FIRE PROMOTION MINISTRIES
3. Receipts and Payments 2020 2019 £ £ Receipts Tithes and Offering 4800 4200 Total Receipts 4800 4200 Payments Hire of Hall 3600 3200 Printing and Posters 170 140 Stationery 86 56 Telephone and Internet 410 320 Computer consumables 104 94 Musical Instruments 0 0 Equipment 0 0 Bookkeeping 200 200 Total Direct Expenditure (4570) (4010) Surplus / (Deficit) for the year (230) 190 Surplus / (Deficit) brought forward 3330 3460 Receipts / (Payments) C/f 3100 3330 4. Depreciation: Assets 2020 2019 Musical Instruments 210 210 Equipment 110 110 320 320
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FIRE PROMOTION MINISTRIES
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 AUGUST 2020
ACCOUNTING POLICIES
Basis of Accounting
These accounts have been prepared on the receipts and payments basis with all income and expenditures shown on a cash basis. Assets and non-monetary assets are shown at estimates of the value at the end of the year.
Funds
The CIO has a general unrestricted fund that receives offering and voluntary donations from attendants at the services.
The CIO has no outstanding guarantees to third parties no any debts secured.
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.
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