2024-01-31-accounts

REHOBOTH TABERNACLE OF PRAISE

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31[ST] JANUARY 2024

CHARITY NUMBER: 1160743

REHOBOTH TABERNACLE OF PRAISE 153 GREAT CULLINGS ROMFORD RM7 0YR

INDEX Page Index 1 Trustee’s Report 2 - 3 Receipts and Payments Account 4 Statement of Assets and Liabilities 5 Notes on the financial Statements 6

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REHOBOTH TABERNACLE OF PRAISE

TRUSTEES’ REPORT YEAR ENDED 31[ST] JANUARY 2024

The trustees are pleased to present their report for the year ended 31[st] January 2024 for the charity, Rehoboth Tabernacle of Praise with charity number 1160743.

The Trustees of the charity are: Mrs Morenike Ajayi Mrs Bolanle Adeusi Mr Yomi Onimole

The principal address of the charity is : 153 Great Cullings Romford RM7 0YR

STRUCTURE, GOVERNANCE AND MANAGEMENT

The Charity governing document is a CIO – Foundation Constitution registered 4[th] March 2015.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 Christian Worship Services through the year in which individuals were equipped and educated on the principles and doctrines of the Christian faith. The organisation also some special services during the year in which individuals came from all around 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 above £2,500. This is a 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.

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:

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 2011.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 5[th] September 2024 and signed on their behalf by:

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REHOBOTH TABERNACLE OF PRAISE

ACCOUNTS FOR THE YEAR ENDED 31st January 2024

**1 **	Receipts & Payments Account (General	Purpose Fund)
	Income Receipts	£/ 2024 £/	2023
	Tithes and Offerings	2551	3623
	Interest	0	0
	Total Receipts	2551	3623
	Direct Charitable Expenditure
	Hall Hire	0	0
	Events	200	0
	Accounting services	190	180
	Printing	0	280
	Advertising	0	0
	Media services	186	0
	Stationary	0	120
	Honorarium	0	50
	Refreshments	0	0
	Subscription	0	173
	Insurance	0	0
	Welfare	0	0
	Supplies	99	0
		675	803
	Other Expenditure
	Equipment	0	0
	Furniture & Fixtures	0	547
	Instruments	0	0
		0	547
	Total Payments	675	1350
	Net Receipts/(Payments) for the year	1876	2273
	Loan	2170	2170
	Cash Funds brought forward	11588	7145
	Cash Funds at the end of the year	15634	11588

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REHOBOTH TABERNACLE OF PRAISE

**2 **	Statements of Assets and Liabilities at 31st January 2024	Statements of Assets and Liabilities at 31st January 2024	Statements of Assets and Liabilities at 31st January 2024
	Monetary Assets
	Cash Funds	Unrestricted Funds
		£/2024	£/2023
		£
	Cash at bank	15634	13659
	Total Cash Funds	15634	13659
	Assets Retained for the
	Charity's Own use
	Non-monetary Assets and Liabilities
	Equipments	393	491
	Furniture & Fixtures	394	492
		787	983
	Liabilities
	Bookkeeping	180	180
	Loan to Pastor	0	100

These accounts were approved by the trustees and signed on their behalf by: Mrs Mobolanle Adeusi

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REHOBOTH TABERNACLE OF PRAISE

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31st January 2024

ACCOUNTING POLICIES

Basis of Accounting

These accounts have been prepared on the receipts and payments basis with all revenue and expenses shown on a cash basis. 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 voluntary donations from attendants at the services.

The CIO has no outstanding guarantees to third parties no any debts secured on the asstes of the CIO

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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