POWER AND PEACE CHAPEL INTERNATIONAL
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30[th] APRIL 2023
CHARITY NUMBER: 1161004
POWER AND PEACE CHAPEL INTERNATIONAL UNIT 7 10 ARGALL AVENUE LONDON E10 7QE 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 -11
POWER AND PEACE CHAPEL INTERNATIONAL
LEGAL & ADMINISTRATIVE DETAILS YEAR ENDED 30[TH] APRIL 2023
ADDRESS FOR CORRESPONDENCE
UNIT 7 10 ARGALL AVENUE LONDON E10 7QE
REGISTERED CHARITY NUMBER 1161004
GOVERNING DOCUMENT CIO – FOUNDATION REGISTERED 20 MAR 2015
TRUSTEES/ DIRECTORS
MS EFUA HINTON MS GETRUDE TUFFOUR - DUFIE MR JACK WILLIAMS MS ESTELLA COLESTON
PRINCIPAL BANKERS
HSBC BANK PLC 15 WELLINGTON STREET WOOLWICH SE18 6PH
INDEPENDENT EXAMINER
FRESH FIRE ORGANISATION GENERATOR BUSINESS CENTRE 95 MILES ROAD MITCHAM CR4 3FH
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POWER AND PEACE CHAPEL INTERNATIONAL
TRUSTEES’ REPORT YEAR ENDED 30[TH] APRIL 2023
The trustees are pleased to present their report for the year ended 30[th] April 2023 for the charity, POWER AND PEACE CHAPEL INTERNATIONAL Ministries with Charity Number 1161004.
The Trustees of the charity are: MR EFUA HINTON MS GERTRUDE TUFFOUR-DUFIE MR JACK WILLIAMS MS ESTELLA COLESTON
The principal address of the charity is : UNIT 7
10 ARGALL AVENUE LONDON E10 7QE
STRUCTURE, GOVERNANCE AND MANAGEMENT
The Charity governing document is a CIO- Foundation Constitution registered on 20[th] March 2015.
OBJECTIVES AND ACTIVITIES
The Objects of the organisation are to advance the Christian in accordance with the Statement of Beliefs in such ways as the trustees from time to time may think fit. 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. The church held services in different locations of the city and has established another branch. They also continue to hold programs on Christian television which proved to be very fruitful in reaching people in the community. The church saw an increase of membership during the financial year.
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FINANCIAL REVIEW
The income of the charity is above £292,000. This is a good amount for this year of the charity the costs have been well managed over this period. The organisation is still in a good position to manage its costs. The main cost of the organisation was paying for the premises that it uses as a place of worship and supporting its outreach events in the community.
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 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:
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Select suitable accounting policies and apply them consistently.
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Make judgements and estimates that are reasonable and prudent.
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State whether the applicable accounting standards have been followed.
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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 on 22[nd] February 2024 and signed on their behalf by:
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Independent Examiner’s Report To the Trustees
POWER AND PEACE CHAPEL INTERNATIONAL
I report on the accounts of the company for the year ended 30[th] April 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:
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Examine the accounts under section 145 of the 2011 Act.
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Follow the procedures laid down in the General Directions given by the Charity Commissioners made under section 145(5)(b) of the 2011 Act.
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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;
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(1) which gives me reasonable cause to believe that, in any material aspect, the requirements:
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to keep accounting records in accordance with section 386 of the Companies Act 2006: and
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accounts are prepared which agree with the accounting records and comply
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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.
Chuks Ajuka BSc(Man), FICB PM.Dip FRESH FIRE ORGANISATION 95 MileRoad Mitcham Surrey CR4 3FH
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POWER AND PEACE CHAPEL INTERNATIONAL
Statement of Financial Activities for the year ended 30th April 2022
| Unrestricted | Unrestricted | Unrestricted | Total Funds | Total Funds | |
|---|---|---|---|---|---|
| Funds | 2022 | 2021 | |||
| Incoming ResourcesNote | £ | £ | £ | ||
| from generated funds | |||||
| Donations and Legacies | 2 | 262444 | 262444 | 257039 | |
| Investment income | 3 | 401 | 401 | 1 | |
| _ ___ ___ _ |
|||||
| 262845 | 262845 | 257040 | |||
| Other Income | |||||
| Other | 2 | 29298 | 29298 | 16646 | |
| _______ | |||||
| Total Incoming | 292143 | 292143 | 273686 | ||
| Resources | |||||
| _______ | |||||
| Resources Expended | |||||
| Charitable activities in furtherance of objectives | |||||
| Cost of Activities | 6 | 219,403 | 219,403 | 180814 | |
| Other | 7 | 7,186 | 7,186 | 11911 | |
| _______ | |||||
| Total Resources | 226,589 | 226,589 | 192725 | ||
| Expended | _______ | ||||
| Net movement in funds | 65,554 | 65,554 | 80961 | ||
| Reconciliation of Funds | |||||
| Total Funds brought forward | 315357 | 315357 | 234396 | ||
| Total Funds carried forward | 380,911 | 380,911 | 315357 |
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.
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POWER AND PEACE CHAPEL INTERNATIONAL
| Balance Sheet as at 30th APRIL 2023 Note 2023 Fixed Assets £ Tangible fixed assets 4 33263 _ 33263 _ Current Assets Cash at bank and in hand 343698 Debtors & prepayments 4750 348448 Creditors:amounts falling due within one year Creditors & accruals 8 800 _ Net Current Assets 347648 _ Net Assets 380911 Total Funds 380911 General Funds ___ Unrestricted funds 380911 Restricted funds 0 Total Funds 380911 |
2022 £ 22859 |
|---|---|
| ___ 22859 |
|
| ___ 288548 4750 |
|
| 293298 800 |
|
| ___ 292498 |
|
| _ 315357 315357 _ 315357 0 |
|
| 315357 |
Approved by the trustees on 22nd February 2024 and signed on their behalf by :
The notes on these accounts form part of these accounts
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POWER AND PEACE CHAPEL INTERNATIONAL
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30[th] April 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 have been identified in the reporting period.
Recognition of Income
These are included in the Statement of Financial Activities (SOFA) when:
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The charity becomes entitled to resources;
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It is more likely than not that the trustees will receive the resources;
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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.
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POWER AND PEACE CHAPEL INTERNATIONAL NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30[TH] APRIL 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.
.
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POWER AND PEACE CHAPEL INTERNATIONAL (COMPANY LIMITED BY GUARANTEE) Notes to the accounts for year ended 30th April 2023
2 Voluntary Income/ Other Income
| Church collections Donations Others Total |
Unrestricted Restricted Total fundsTotal Funds Funds 2023 2022 £ £ £ £ 262444 262444 257039 0 0 0 262444 262444 257039 |
|---|---|
| Unrestricted | Total fundsTotal funds | Total fundsTotal funds | |
|---|---|---|---|
| Other Income | funds/£ | 2023/£ | 2022/£ |
| Gift Aid | 14429 | 14429 | 16646 |
| Investment income | |||
| Unrestricted | Total fundsTotal funds | ||
| Funds £ | 2023/£ | 2022/£ | |
| Interest | 401 | 401 | 1 |
3 Investment income
| 4 Tangible Fixed Assets Cost At 01/05/2022 Additions At 30/04/2023 Depreciation At 01/05/2022 charge for the year At 30/04/2023 NBV at 30/04/2023 NBV at 01/05/2022 |
Vehicles Instrument Fix & Fitt Equipment Total 2023 £ £ £ £ £ 8640 1188 1586 28740 40154 0 0 0 19016 19016 |
|---|---|
| 8640 1188 1586 47756 59170 5101 773 1188 10233 17295 708 83 317 7504 8612 |
|
| 5809 856 1505 17737 25907 2831 332 81 30019 33263 3539 415 398 18507 22859 |
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POWER AND PEACE CHAPEL INTERNATIONAL Notes to the accounts for year ended 30th April 2023
| **6 ** | Cost of Activities in furtherance of Charity's Objectives | Cost of Activities in furtherance of Charity's Objectives | Cost of Activities in furtherance of Charity's Objectives |
|---|---|---|---|
| 2023/£ | 2022/£ | ||
| Conference costs | 17396 | 16472 | |
| TV/ Media programs | 3038 | 11000 | |
| Tax/Ni | 8924 | 6963 | |
| Music Services | 13169 | 12053 | |
| Welfare | 10340 | 3924 | |
| Light & Heat | 897 | 1144 | |
| Renewals/ Repairs | 2458 | 1773 | |
| Church Supplies | 2443 | 3031 | |
| Wages | 35367 | 28590 | |
| Transport | 13903 | 6971 | |
| Telephone & Internet | 686 | 751 | |
| Motor expenses | 4442 | 0 | |
| Missions | 16425 | 0 | |
| Professional fees | 6059 | 6986 | |
| Bank charges | 515 | 216 | |
| Rent and Rates | 54063 | 48747 | |
| Media services | 548 | 1739 | |
| Office/Subscriptions | 306 | 1002 | |
| Printing & Advertising | 3197 | 7331 | |
| Depreciation | 8612 | 5715 | |
| Pension | 3010 | 3010 | |
| Benevolent giving | 2448 | 2223 | |
| Security | 1659 | 3391 | |
| Insurance | 9498 | 7782 | |
| Total | 219403 | 180814 |
| **7 ** | Other | 2022/£ | 2021/£ |
|---|---|---|---|
| Speakers expenses | 4556 | 11540 | |
| Stationery | 464 | 0 | |
| Hospitality | 504 | 245 | |
| Website costs | 1662 | 126 | |
| Total | 7186 | 11911 |
Trustee Remuneration
No trustee received payments or any other personal benefits from the organisation
8 Creditors: amounts falling due within one year 2022/£ 2021/£ Accounting Services 800 800 9 Debtors and Prepayments 2022/£ 2021/£ Debtor 4750 4750 11