## **MIRACLE CENTRE (HOUSE OF GRACE)** ## **FINANCIAL STATEMENTS** **FOR THE YEAR ENDED 31[st] JANUARY 2023** **CHARITY NUMBER: 1163350** ## **MIRACLE CENTRE (HOUSE OF GRACE)** ## **LEGAL & ADMINISTRATIVE DETAILS YEAR ENDED 31[ST] JANUARY 2023** ## **ADDRESS FOR CORRESPONDENCE** 34 BARNWOOD ROAD GLOUCESTER GL2 0RX ## **REGISTERED CHARITY NUMBER** 1163350 ## **GOVERNING DOCUMENT** CIO FOUNDATION REGISTERED 1 SEPT 2015 ## **TRUSTEES/ DIRECTORS** MR KOFI KUMI- ADDO MR YIADOM BOACHIE REV GEORGE MIREKU - YEBOAH ## **PRINCIPAL BANKERS** LLOYDS BANK PLC 25 GRESHAM ROAD LONDON EC2V 7HN ## **INDEPENDENT EXAMINER** FRESH FIRE ORGANISATION GENRATOR BUSINESS CENTRE UNIT 5 95 MILES ROAD MITCHAM CR4 3FH **1** ## **MIRACLE CENTRE (HOUSE OF GRACE) 34 BARNWOOD ROAD GLOUCESTER GL2 0RX** **INDEX Page Legal & Administrative Details 1 Index 2 Trustee’s Report 3-4 Independent Examiner’s Report 5 Statement of Financial Activities 6 Balance Sheet 7 Notes on the financial Statements 8-10** **2** ## **MIRACLE CENTRE (HOUSE OF GRACE)** ## **TRUSTEES’ REPORT** ## **YEAR ENDED 31[ST] JANUARY 2023** The trustees are pleased to present their report for the year ended 31[st] January 2023 for the charity, Miracle Centre (House of Grace) with charity number 1163350. The Trustees of the charity are: Mr Kofi Kumi - Addo Mr Yiadom Boachie Rev George Mireku- Yeboah The principal address of the charity is : 34 Barnwood road Gloucester GL2 0RX ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** The Charity governing document is a CIO foundation constitution that was adopted on 1[st] September 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 meetings through the year in which individuals were equipped and educated on the principles and doctrines of the Christian faith. The organisation held several conferences 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. The meetings are now back to in person services and this has helped the congregation with its outreaches in the community. **3** ## **FINANCIAL REVIEW** The income of the charity is above £82,000. 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 rent of its building that it uses for worship services and running special programs. . ## **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 17[th] March 2022 and signed on their behalf by: _____________________________________________ **4** Independent Examiner’s Report To the Trustees ## **MIRACLE CENTRE (HOUSE OF GRACE)** I report on the accounts of the church for the year ended 31[st] January 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 of the church are responsible for the preparation of accounts: they consider that the audit requirement under section 144(2) of the Charities Act 2011 (the 2011 Act),does not apply. 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 I do not express an audit opinion on the view given by the accounts. ## **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 trustees have not met the requirements to ensure that: - proper accounting records are kept( in accordance with section 130 of the 2011 Act - accounts are prepared which agree with the accounting records and comply with the accounting requirements of the 2011 Act: 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 PMDip FRESH FIRE ORGANISATION 95 Miles Road Mitcham Surrey CR4 3FH **5** ## **MIRACLE CENTRE (HOUSE OF GRACE)** ## **Statement of Financial Activities for the year ended 31st January 2023** |||**Unrestricted**|**Total Funds**|| |---|---|---|---|---| |||**Funds**|**2023**|**2022**| |**Incoming Resources from**|**Note**|**£**|**£**|| |**generated funds**||||| |Voluntary Income||61716|61716|63028| |Investment income||1|1|15| |||61717|61717|63043| |_Other Income_||||| |Other||20805|20805|0| |**Total Incoming**||82522|82522|63043| |**Resources**||||| |**Resources Expended**||||| |**Charitable activities in furtherance of objectives**||||| |**Cost of Activities**|**3**|53,113|53,113|34554| |**Other**|**4**|8,379|8,379|9251| |**Total Resources**||61,492|61,492|43805| |**Expended**||||| |**Net movement in funds**||**21,030**|21,030|19238| |**Reconciliation of Funds**||||| |Total Funds brought forward||187190|187190|167952| |**Total Funds carried forward**||**208,220**|208,220|187190| 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** ## **MIRACLE CENTRE (HOUSE OF GRACE) Balance Sheet as at 31st January 2023** ||**Note**|**2023**|||**2022**| |---|---|---|---|---|---| |**Fixed Assets**||**£**||**£**|| |Tangible fixed assets|**2**|7888|||7979| |||_________|||| |||7888|||7979| |||_________|||| |**Current Assets**|||||| |Cash at bank and||152038|||116217| |in hand|||||| |Debtors & prepayment|**6**|48654|||63354| |||200692|||179571| |**Creditors:amounts falling due within one year**|||||| |Creditors & accruals|**5**|360|||360| |||_________|||| |**Net Current Assets**||200332|||179211| |||_________|||| |**Net Assets**||208220|||187190| |**Unrestricted Funds**|||||| |General Fund||208220|||187190| |||_________|||| |**TOTAL FUNDS**||208220|||187190| |||_________|||| Approved by the trustees on 17th Nov 2023 and signed on their behalf by: _____________________________________________ **7** ## **MIRACLE CENTRE (HOUSE OF GRACE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31[ST] JANUARY 2023** ## **1) Accounting Policies** The financial statements are prepared under the historic cost convention ( as modified by the revaluation of fixed asset investments) and in accordance with applicable accounting standards: Statement of Recommended Practice: Reporting and Accounting by Charities issued March 2005 and the provisions of the Charities Act 1993. Significant policies adopted are ## _Incoming Resources_ Incoming resources are recognised in the statement of financial activities when entitlement has passed to the charity and the amounts are certain and measurable. Any incoming resources received that relate exclusively to future periods are Deferred on the Balance Sheet ## _Resources Expended_ Expenditure is recognised in the statement of financial activities when a liability is incurred or increased without a commensurate increase in recognised assets or a reduction in liabilities. ## _Allocation of Costs_ Direct Activity Costs comprise those costs that contribute directly to an activity and are allocated to the relevant activity Support Costs comprise those costs that are necessary to deliver an activity but in themselves do not produce or deliver an activity. Support costs are allocated to activities based on the direct salary costs of the activity compared with total activity salary costs Governance costs are those costs incurred to meet statutory and constitutional requirements. ## _Funds_ Restricted funds represent income received that is subject to restrictions on use as determined by the donor which are narrower than the general objects. Designated funds represent funds set aside by the Trustees for specific purposes General funds are those funds made available for the charity’s general objects. ## _Depreciation_ Items of equipment over £500 are capitalised and depreciated so as to write off Cost in equal instalments over their useful lives. Rates are set at equipment 5 to 10 years. **8** ## **MIRACLE CENTRE (HOUSE OF GRACE) Notes to the accounts for year ended 31st January 2023** |**2 Tangible Fixed Assets**
**Cost**
At 01/02/2022
Additions
At 31/01/2023
**Depreciation**
At 01/02/2022
charge for the year
At 31/01/2023
**Net Book Value at 31/01/2023**
Net Book Value at 01/02/2022|Instrument Vehicle
Equipment Total 2023
**£**
**£**
**£**
**£**
2059
14750
3500
20309
0
0
1880
1880
____________________________________
2059
14750
5380
22189
1186
9422
1722
12330
175
1065
731
1971
____________________________________
1361
10487
2453
14301
698
4263
2927
7888
873
5328
1778
7979| |---|---| ## **3 Charitable Activities** |**Charitable Activities**|| |---|---| |Subscriptions
Post, Printing & Stationary
Pastors' Allowance
Hall Rent
Youth and Children outreach
Members Welfare
Church events
Ministry support
Software
Conference costs
Repairs
Donations
Insurance
Refreshments
**Total**
**Other Resource Costs**
Vehicle Expenses
Speakers expenses
Volunteer expenses
Transport costs
Depreciation
Media Services
Card services
Admin
Accounting services
**Total**|**2023/£**
**2022/£**
2853
380
1098
346
10800
12265
2464
8773
761
1075
3187
4677
3066
1908
12000
0
390
0
2603
66
89
678
8897
2803
1492
1428
3413
155| ||53113
34554
1583
1209
1301
1600
1463
0
1148
1500
1971
1995
308
1526
0
390
100
381
505
650| ||8379
9251| ## **4 Other Resource Costs** **MIRACLE CENTRE ( HOUSE OF GRACE) Notes to the accounts for year ended 31st January 2023** ## **5 Creditors: amounts falling due within one year** |Independent examination
Creditors
**Total**|**2023/£**
**2022/£**
360
360
0
0| |---|---| ||360
360| |**6 **|**Debtors and Prepayments**|**2023/£**|**2022/£**| |---|---|---|---| ||Debtors|40354|40354| ||Loans|8300
48654|23000
63354| **10**