REGISTERED CHARITY NUMBER: 1161295 (England and Wales)
Report of the Trustees and
Financial Statements for the Year Ended 31 December 2020
For
KINGDOM POWER MINISTRIES INTERNATIONAL (KPMI)
KINGDOM POWER MINISTRIES INTERNATIONAL (KPMI)
Contents of the Financial Statements for the Year Ended 31 December 2020
| Page | |
|---|---|
| Report of the Trustees | 1 to 2 |
| Independent Examination | 3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 |
| Notes to the Financial Statements | 6 to 8 |
| Detailed Statement of Financial Activities | 9 |
Report of the Trustees for the Year Ended 31 December 2020
KINGDOM POWER MINISTRIES INTERNATIONAL (KPMI)
The trustees present their report with the financial statements of the charity for the year ended 31 December 2020. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities' issued in March 2005.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1161295
Principal address
192 Varley Street Miles Platting Manchester M40 7EJ
Trustees
Pst Akinyele Akinlabi
Mrs Temitope Onadeko
Bankers
Barclays Bank
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes an unincorporated charity.
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
OBJECTIVES AND ACTIVITIES
Objectives and Activities:
The overall objectives of the charity are:
The advancement of the Christian religion for the public benefit, in particular but not exclusively, by the mounting of public worship, prayer meetings, Christian teaching and preaching.
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KINGDOM POWER MINISTREIS INTERNATIONAL (KPMI)
Report of the Trustees for the year ended 31 December 2020
ACHIEVEMENT AND PERFORMANCE
Charitable activities
Welfare/Evangelism/Prayers:
The year 2020 was an unprecedented one with the outbreak of a global pandemic that ravaged the world. Although the activities of the church started out as normal at the beginning of the year, but by March ending the UK government had to lock down to curtail the spread of the Covid 19. That meant the church had to also shut down for that period.
Nevertheless, our members were engaged with little activities of payers and bible study via our Zoom platform . This was so necessary to keep people emotionally and mentally stable. We also reached out to families who were facing hardship as a result of the pandemic and lock down.
Also, the Ministry successfully organised the 2020 Fresh Oil Annual Retreats/Conferences online as we could not meet physically. (This is also open to the public and all who need spiritual growth and intimacy with God). We hope to be able to meet again as a residential retreat once the lockdown is lifted.
Youth Outreach Programme:
The Youth Conference (Tagged “The Daniels Youth Network”, aimed at reaching the youth of the community and the wider public). Again, the 2020 edition could not physically take place at the booked venue at Quintas in Wales due to the Covid 19 pandemic and its attendant national lock down. Notwithstanding, we had an online presence as we did our programs via the zoom platform. Many youths logged on from various quarters of the UK.
STATEMENT OF TRUSTEES RESPONSIBILITIES
The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charity SORP;
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make judgements and estimates that are reasonable and prudent;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. 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.
Approved by order of the board of trustees on 22nd July, 2021 and signed on its behalf by:
Temitope Onadeko - Trustee
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Independent Examiner's Report to the Trustees of KINGDOM POWER MINISTRIES INTERNATIONAL (KPMI)
I report on the accounts for the year ended 31 December 2020 set out on pages four to nine.
Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year (under Section 144(2) of the Charities Act 2011 (the 2011 Act)) and that an independent examination is required.
Having satisfied myself 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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to follow the procedures laid down in the General Directions given by the Charity Commission (under Section 145(5)(b) of the 2011 Act); and
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to state whether particular matters have come to my attention.
Basis of the independent examiner's report
My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity 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 statements below.
Independent examiner's statement
In connection with 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 respect, the requirements
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to keep accounting records in accordance with Section 386 and 387 of the Companies Act 2006; and
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- to prepare accounts which accord with the accounting records, comply with the accounting requirements of Sections 394 and 395 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.
Omowunmi Shitta , FCA
Independent Examiner
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KINGDOM POWER MINISTRIES INTERNATIONAL (KPMI)
Statement of Financial Activities for the Year Ended 31 December 2020
| 2020 | 2019 | ||
|---|---|---|---|
| Unrestricted | Total funds | ||
| fund | |||
| Notes | £ | £ | |
| INCOMING RESOURCES | |||
| Incoming resources from generated funds | |||
| Voluntary income | 2 | 33,960 | 57,317 |
| RESOURCES EXPENDED | |||
| Charitable activities | |||
| 16,153 | 26,715 | ||
| Charitable activities | |||
| 23,105 | 32,719 | ||
| Support Cost | |||
| Total resources expended | 39,258 | 59,434 | |
| NET INCOMING RESOURCES 3 | (5,297) | (2,117) | |
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | 1,459 | 3,576 | |
| TOTAL FUNDS CARRIED FORWARD | (3,838) | 1,459 |
CONTINUING OPERATIONS
All incoming resources and resources expended arise from continuing activities.
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KINGDOM POWER MINISTREIS INTERNATIONAL (KPMI)
Balance Sheet At 31 December 2020
| 2020 | 2019 | ||
|---|---|---|---|
| Total funds | Total funds | ||
| Notes | £ | £ | |
| FIXED ASSETS | |||
| Tangible assets | 6 | 1 | 372 |
| CURRENT ASSETS | |||
| Cash at bank and in hand | 10,411 | 1,087 | |
| CREDITORS | |||
| Amounts falling due within one year | (0) | (0) | |
| NET CURRENT ASSETS | 10,412 | 1,087 | |
| TOTAL ASSETS LESS CURRENT LIABILITIES | TOTAL ASSETS LESS CURRENT LIABILITIES | 10,412 | 1,459 |
| Creditors: Amount falling due after more than a year | (14,250) | 0 | |
| NET ASSETS | (3,838) | 1,459 | |
| FUNDS | 7 | ||
| TOTAL FUNDS | (3,838) | 1,459 |
The financial statements were approved by the Board of Trustees on 22 July, 2021 and were signed on its behalf by:
Temitope Onadeko -Trustee
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KINGDOM POWER MINISTRIES INTERNATIONAL (KPMI)
Notes to the Financial Statements for the Year Ended 31 December 2020
1. ACCOUNTING POLICIES
Accounting convention
The financial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), the Charities Act 2011 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities.
Incoming resources
All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
Resources expended
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Allocation and apportionment of costs
Charitable activities
Costs of charitable activities are those costs relating to the activities carried out to meet the objectives of the Church. These include both directly attributable costs and apportioned support costs.
Governance costs
Governance costs are the costs associated with the strategic direction of the organisation and with meeting regulatory responsibilities
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
| Church Equipment | - 20% on straight line |
|---|---|
| Office Equipment | - 20% on straight line |
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
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KINGDOM POWER MINISTRIES INTERNATIONAL (KPMI)
Notes to the Financial Statements - continued for the Year Ended 31 December 2020
2. VOLUNTARY INCOME
| Tithes and Offerings Grant |
2020 £ 27,990 5,970 33,960 |
|---|---|
3. NET INCOMING/(OUTGOING) RESOURCES
Net resources are stated after charging/(crediting):
| Depreciation - owned assets | 2020 £ 372 |
|---|---|
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December, 2020.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December, 2020.
5. STAFF COSTS
| Training and staff cost | 2020 £ 14,061 |
|---|---|
There was one employee during the year
6.
TANGIBLE FIXED ASSETS
| Church Equipment Office Equipment £ £ COST At 1 January 2017 961 900 Additions - - At 31 December2017 961 900 DEPRECIATION At 1 January 2020 768 720 Charge for year 192 180 At 31 December 2020 960 900 NET BOOK VALUE At 31 December 2020 1 0 At 31 December 2019 192 180 |
Totals £ 1,861 - 1,861 1,488 372 1,860 1 372 |
|---|---|
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KINGDOM POWER MINISTRIES INTERNATIONAL (KPMI)
Notes to the Financial Statements - continued for the Year Ended 31 December 2020
7. MOVEMENT IN FUNDS
| Net movement | |||
|---|---|---|---|
| At 31/12/19 | in funds | At 31/12/20 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 1,459 | (5,297) | (3,838) |
| Restricted funds | |||
| Restricted Funds | 0 | 0 | 0 |
| TOTAL FUNDS | 1,459 | (5,297) | (3,838) |
| Net movement in funds, included in the above are as follows: | |||
| Incoming | Resources | Movement in | |
| resources | expended | funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 33,960 | (39,257) | (5,297) |
| Restricted funds | |||
| Restricted Funds | 0 | (0) | 0 |
| TOTAL FUNDS | 33,960 | (39,257) | (5,297) |
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KINGDOM POWER MINISTRIES INTERNATIONAL (KPMI)
Detailed Statement of Financial Activities for the Year Ended 31 December 2020
| INCOMING RESOURCES Voluntary income Tithes and Offerings Special Donations Grant Total incoming resources RESOURCES EXPENDED Charitable activities Ministry Expenses Gift And Donations Conference and Meetings Evangelism and special events Honorarium Support costs Management Rent Travel Expense Training & Staff Cost Printing & Postage stationery Office and Admin Expenses Insurance PAYE & NI Contribution Pension Contribution Depreciation Charge for the year Sundry Expense Total resources expended Net income |
2020 £ 27,990 0 5,970 33,960 33,960 13,292 60 1,560 1,240 - 16,152 2,250 543 14,061 749 1,115 258 1,352 1,925 372 480 23,105 39,257 (3,838) |
2019 £ 52,765 3,000 1,552 57,317 57,317 7,746 60 14,260 2,649 2,000 26,715 10,958 1,465 15,077 50 469 - - - 372 394 28,785 54,546 (2,117) |
|---|---|---|
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