KINGDOM POWER MINISTRIES INTERNATIONAL (KPMI) TRUSTEES' REPORT AND ACCOUNTS YEAR ENDED 31ST DECEMBER 2024
CHARITY REGISTRATION NO: 1161295
KINGDOM POWER MINISTRIES INTERNATIONAL (KPMI) FINANCIAL STATEMENTS YEAR ENDED 31ST DECEMBER 2024
| CONTENTS | PAGE |
|---|---|
| LEGAL AND ADMINISTRATIVE INFORMATION | 1 |
| REPORT OF THE TRUSTEES | 2-3 |
| INDEPENDENT EXAMINERS REPORT | 4 |
| STATEMENT OF FINANCIAL ACTIVITIES | 5 |
| BALANCE SHEET | 6 |
| NOTES TO THE FINANCIAL STATEMENTS | 7-8 |
| DETAILED STATEMENT OF FINANCIAL ACTIVITIES | 9 |
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KINGDOM POWER MINISTRIES INTERNATIONAL (KPMI) LEGAL AND ADMINISTRATIVE INFORMATION YEAR ENDED 31ST DECEMBER 2024
CHARITY REGISTRATION NUMBER:
1161295
REGISTERED OFFICE: 192 Varley Street Miles plating Manchester, M40 7EJ TRUSTEES: Akinyele Akinlabi Temitope Onadeko Francis Olusegun Aransiola
INDEPENDENT EXAMINER
New Bond Accountants Limited 4a-6a Hythe Street Hythe Street, Dartford DA1 1BX
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KINGDOM POWER MINISTRIES INTERNATIONAL (KPMI) REPORT OF THE TRUSTEES YEAR ENDED 31ST DECEMBER 2024
The trustees present their report with the financial statements of the charity for the year ended 31st December 2024. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities' issued in March 2005.
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 Board of Trustees is ultimately responsible for the system of internal control and for reviewing its effectiveness. However, such a system is designed to manage rather than eliminate the risk of failure to achieve business objectives, and can only provide reasonable and not absolute assurance against material misstatement of loss.
The Board has reviewed the effectiveness of the system of internal control. In particular, it has reviewed and updated the process for identifying and evaluating the major risks affecting the business and the policies and procedures by which these risks are managed.
OBJECTIVES AND ACTIVITIES
Objectives and Aims
The Charity's objects are, for the benefit of the public:-
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.
Significant Activities g y
The activities of the church ran as normal in the year under consideration.
Our members engaged physically in all the activities of the church. Although the online platform was still open to those who were unable to come in person to church.
We also reached out to families who were facing hardship as a result of the high cost of living and limited finances.The Ministry successfully organised the 2024 Fresh Oil Annual Retreats/Conference physically at The Hayes Christian centre in Derbyshire; with the online platform opened for those who couldn’t physically attend. (This conference is always open to the public and all who need spiritual growth and intimacy with God).
Youth Outreach Programme:
The Youth Conference (Tagged “The Daniels Youth Network”, aimed at reaching the youth of the community and the wider public); held its 2024 edition both physically and online with the highlight being the summer camp which took place at Shropshire. We had over 70 youths in attendance and they very much looked forward to the 2025 edition. The impact of this program had grown far and wide; with many attendees coming from all over the UK .
FINANCIAL REVIEW
The Trustees have implemented robust budgetary controls to monitor costs in an effort to continue to deliver its service in the future. Income - the total income for the twelve months under review was £78,646
Expenditure - total expenditure in the year was £77,007. The Charity recorded total funds brought forward of £4,319 and an operating surplus for the year of £1,639.
During the year the Trustees continued to place emphasis on financial management to ensure that the funds within the organisation are properly managed.
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KINGDOM POWER MINISTRIES INTERNATIONAL (KPMI) REPORT OF THE TRUSTEES YEAR ENDED 31ST DECEMBER 2024
STATEMENT OF TRUSTEE 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 Regulations 2008 and the provisions of the trust deed requires the trustees to prepare financial statements for each (Accounts and Reports) 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 Charity's Act 2011. 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.
This report is prepared in accordance with the special provision of Part 15 of the Companies Act 2006 relating to small companies.
Approved by order of the Board of Trustees on 14th April, 2025 and signed:
ON BEHALF OF THE BOARD:
.............................................
Temitope Onadeko - Trustee
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REPORT OF THE INDEPENDENT EXAMINER KINGDOM POWER MINISTRIES INTERNATIONAL (KPMI) YEAR ENDED 31ST DECEMBER 2024
I report on the accounts for the year ended 31st December 2024 set out on pages five to nine.
Respective responsibilities of trustees and examiner
The Charity's Trustees (who are also the Directors for the purposes of Company Law) are responsible for the preparation of the preparation of the accounts. The Charity's Trustees consider 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 examiners 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.
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 130 of the 2011 Act; and
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to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act
have not been met; or
(2) to which, in my opinion, attention should be draw in order to enable a proper understanding of the accounts to be reached.
New Bond Accountants Limited 4a-6a Hythe Street Hythe Street, Dartford DA1 1BX
Date: 14th April 2025
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KINGDOM POWER MINISTRIES INTERNATIONAL (KPMI) STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31ST DECEMBER 2024
| STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31ST DECEMBER 2024 |
|||
|---|---|---|---|
| INCOMING RESOURCES Notes Incoming resources from generated funds Voluntary Income 2 Grants 2 RESOURCES EXPENDED Charitable Activities 3 Support Costs 4 Governance Costs 5 Finance expense 6 TOTAL RESOURCES EXPENDED NET INCOME/EXPENDITURE FOR THE YEAR RECONCILIATION OF FUNDS Funds brought forward TOTAL FUNDS CARRIED FORWARD |
- - |
Total funds £ £ 2024 2023 72,365 59,105 6,281 4,726 78,646 63,831 42,145 37,031 33,313 23,521 576 100 - - 76,035 60,652 £2,611 £3,179 4,319 1,140 £6,930 £4,319 |
|
| 37,031 23,521 100 - 60,652 |
|||
| £3,179 1,140 £4,319 |
None of the charity's activities were acquired or discontinued during the year and there were no recognised gains and losses for 2024 other than those included in the statement of financial activities.
The notes on pages 7 to 8 form part of these accounts.
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KINGDOM POWER MINISTRIES INTERNATIONAL (KPMI) BALANCE SHEET YEAR ENDED 31ST DECEMBER 2024
| Notes | 2024 | 2023 | |
|---|---|---|---|
| £ | £ | ||
| CURRENT ASSETS | |||
| Debtors | 3,500 | - | |
| Cash at bank and in hand | 7,520 | 4,570 | |
| CREDITORS: due within one year | 8 | - | - |
| Net Current Assets | 11,020 | 4,570 | |
| TOTAL ASSETS LESS CURRENT LIABILITIES | 11,020 | 4,570 | |
| Creditors: Amount falling due after more than a year | (4,090) | (7,210) | |
| TOTAL ASSETS LESS CURRENT LIABILITIES | £6,930 | (£2,640) | |
| FUNDS: | |||
| Total funds | £6,930 | (£2,640) | |
| The financial statements were approved by the Board of Trustees on 14 April, 2025 and were | The financial statements were approved by the Board of Trustees on 14 April, 2025 and were | ||
| signed on its behalf by: |
……
Temitope Onadeko - Trustee
The notes on pages 7 to 8 form part of these accounts.
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KINGDOM POWER MINISTRIES INTERNATIONAL (KPMI) NOTES TO THE ACCOUNTS YEAR ENDED 31ST DECEMBER 2024
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements 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 (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
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.
Donations and other incoming resources - Income from grants to carry out the objectives and activities of the charity. This includes workshops, 1-2-1 mentoring and mental health seminars.
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.
Charitable activities
Costs of charitable activities are those costs relating to the activities carried out to meet the objectives of the charity. 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 including apportioned support cost.
Taxation
The charity is exempt from corporation 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.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life where applicable.
| useful life where applicable. | |
|---|---|
| Freehold property | - 2% on cost |
| Furniture& equipment | - 20% on cost |
| Motor vehicles | - 20% on cost |
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KINGDOM POWER MINISTRIES INTERNATIONAL (KPMI) NOTES TO THE ACCOUNTS YEAR ENDED 31ST DECEMBER 2024
| 2. VOLUNTARY INCOME Donations Total incoming resources 3. CHARITABLE ACTIVITIES Workshop - Charitable Activities 4. SUPPORT COSTS: MANAGEMENT Rent Heating & Lighting Travels Trainings Print, post and Stationery Office and adminstrative expense Adverts & Promotions Sundry Expenses 5. GOVERNANCE COSTS Consultancy and professional fees 6. FINANCE COST Bank Charges |
Unrestricted funds £ 76,201 £76,201 2024 £ 42,145 42,145 24,000 184 1,981 3,625 701 2,557 187 79 33,313 576 0 |
Unrestricted funds £ 76,201 £76,201 2024 £ 42,145 42,145 24,000 184 1,981 3,625 701 2,557 187 79 33,313 576 0 |
Restricted fund 2024 £ £ 2,445 78,646 £2,445 £78,646 2023 £ 0 37,031 0 37,031 0 19,500 0 956 0 740 0 300 0 950 0 300 0 660 0 115 0 23,521 0 100 0 0 |
2024 £ 78,646 |
|---|---|---|---|---|
| 2023 £ 37,031 |
||||
| 37,031 | ||||
| 19,500 956 740 300 950 300 660 115 23,521 |
||||
| 100 0 |
7. TRUSTEES REMUNERATION AND BENEFITS
Trustees' expenses
There are no paid staffs. Most tasks are carried out by the trustees who are not remunerated and do not receive any benefits for their activities as trustees. However, volunteers are reimbursed for their travel and substinance expenses.
8. CREDITORS : Amounts due after one year
£4,090
KINGDOM POWER MINISTRIES INTERNATIONAL (KPMI) NOTES TO THE ACCOUNT YEAR ENDED 31ST DECEMBER 2024
| 9. MOVEMENTS IN FUNDS Unrestricted Funds General Fund Restricted Funds Grants Total funds |
Incoming Resources £76,201 £2,445 £78,646 |
Resources Expended £73,590 £2,445 £76,035 |
Movement in | Movement in |
|---|---|---|---|---|
| Funds | ||||
| £2,611 | ||||
| - £2,611 |
10. EXTRA ORDINARY EVENT
There are no extra ordinary event.
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KINGDOM POWER MINISTRIES INTERNATIONAL (KPMI) INCOME AND EXPENDITURE YEAR ENDED 31ST DECEMBER 2024
| Incoming Resources: Voluntary income: Tithes & Offerings Special Donations Gift Aid /Grants Total incoming resources RESOURCES EXPENDED: Charitable activities: Ministry Expenses Gifts & Donations Conferences Evangelism & Special Events Honorarium SUPPORT COSTS: MANAGEMENT Rent Heating & Lighting Travels Trainings Print, post and Stationery Office and adminstrative expense Adverts & Promotions Sundry Expenses GOVERNANCE COSTS FINANCE COST Bank Charges Total resources expended Net expenditure |
2024 2023 £ £ 69,920 55,274 2,445 3,831 6,281 4,726 £78,646 £63,831 28,095 24,161 348 60 12,038 9,950 535 1,240 1,129 1,620 42,145 37,031 24,000 19,500 184 956 1,981 740 3,625 300 701 950 2,557 300 187 660 79 115 33,313 23,521 576 100 576 100 0 0 £76,035 £60,652 £2,611 £3,179 |
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