2020-08-31-accounts

PRAYING FAMILY CHAPEL INTERNATIONAL

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31[ST] AUGUST 2020

CHARITY NUMBER: 1163619

PRAYING FAMILY CHAPEL INTERNATIONAL 88A REGINA ROAD LONDON SE25 4TT

INDEX Page Index 1 Trustee’s Report 2 - 3 Receipts and Payments Account 4 Statement of Assets and Liabilities 5 Notes on the financial Statements 6

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PRAYING FAMILY CHAPEL INTERNATIONAL

TRUSTEES’ REPORT YEAR ENDED 31[ST] AUGUST 2020

The trustees are pleased to present their report for the year ended 31[st] August 2020 for the charity, Praying Family Chapel International with charity number 1163619.

The Trustees of the charity are: Mrs Abigail Aggrey

Ms Cynthia Amartei Ms Emilia Okoye

The principal address of the charity is : 88A REGINA ROAD LONDON

SE25 4TT

STRUCTURE, GOVERNANCE AND MANAGEMENT

The Charity governing document is a CIO – Foundation Constitution registered 17[th] 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 also held several conferences during the year in which individuals came from all around the community to attend. This continues to be a source of spiritual enrichment in helping many members of the community.

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FINANCIAL REVIEW

The income of the charity is above £12,000. 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.

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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 10[th] May 2021 and signed on their behalf by:

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PRAYING FAMILY CHAPEL INTERNATIONAL

ACCOUNTS FOR THE YEAR ENDED 31st August 2020

1 Receipts & Payments Account (General Purpose Fund)

Income Receipts Tithes and Offerings Interest Total Receipts Direct Charitable Expenditure Music Services Honorarium Hire of Hall Advertising Travel expenses Stationary Welfare Professional fee Supplies Pastor's allowance Telephone Refreshments Church events Other Expenditure Equipment Accounting services Fixtures& Fittings Total Payments Net Receipts/(Payments) for the year Cash Funds brought forward Cash Funds at the end of the year	£/ 2020 £/2019 12255 12189 2 1 12257 12190 100 300 2200 2230 208 2812 2650 18 174 526 930 0 0 74 0 3600 3300 624 577 26 126 100
	9880 10695 738 991 200 200 0 0
	938 1191 10818 11886 1439 304 2083 1779
	3522 2083

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PRAYING FAMILY CHAPEL INTERNATIONAL

**2 **	Statements of Assets and Liabilities at 31st August 2020	Statements of Assets and Liabilities at 31st August 2020	Statements of Assets and Liabilities at 31st August 2020
	Monetary Assets
	Cash Funds	Unrestricted Funds
		£/2020	£/2019
		£
	Cash at hand and in bank	3522	2083
	Total Cash Funds	3522	1779
	Assets Retained for the
	Charity's Own use
	Non-monetary Assets and Liabilities
	Musical Instruments	250	312
	Equipments	2410	2274
	Fixtures & Fittings
		2660	2586
	Liabilities
	Bookkeeping	200	200
	NET ASSETS	5982	4469

These accounts were approved by the trustees and signed on their behalf by: Cynthia Amartei

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PRAYING FAMILY CHAPEL INTERNATIONAL

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31st August 2020

ACCOUNTING POLICIES

Basis of Accounting

These accounts have been prepared on the receipts and payments basis with all revenue and expenses shown on a cash basis. Non-monetary assets are shown at estimates of the value at the end of the year.

Funds

The CIO has a general unrestricted fund that receives voluntary donations from attendants at the services.

The CIO has no outstanding guarantees to third parties no any debts secured on the asstes of the CIO

Public Benefit

The charity acknowledges its requirement to demonstrate clearly that it must have charitable purposes or aims that are for public benefit.Details of how this is achieved are provided in the Trustees report. The trustees confirm that they have paid due regard to the Charity Commission guidance on public benefit before deciding what activities the charity should undertake.

Depreciation

Depreciation is calculated at 20% reducing balance method.

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