## **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 **1** ## **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. **2** ## **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: 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 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: _____________________________________________ **3** 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: - Examine the accounts under section 145 of the 2011 Act. - Follow the procedures laid down in the General Directions given by the Charity Commissioners made under section 145(5)(b) of the 2011 Act. - 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; - (1) which gives me reasonable cause to believe that, in any material aspect, the requirements: - to keep accounting records in accordance with section 386 of the Companies Act 2006: and - accounts are prepared which agree with the accounting records and comply **4** 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 **5** ## **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 Resources**Note|**£**|||**£**|**£**| |**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. **6** ## **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 **7** ## **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: - The charity becomes entitled to resources; - It is more likely than not that the trustees will receive the resources; - 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. **8** ## **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. . **9** ## **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| **10** ## **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**