## **POWER OF THE HOLY GHOST CHURCH** ## **FINANCIAL STATEMENTS** ## **FOR THE YEAR ENDED 31[ST] OCTOBER 2020 OCTOBER 2019** **CHARITY NUMBER: 1163795** ## **POWER OF THE HOLY GHOST CHURCH 27 REDHOUSE CRESCENT CARDIFF CF5 4FB** **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** **1** # **POWER OF THE HOLY GHOST CHURCH** # **TRUSTEES’ REPORT YEAR ENDED 31[ST]** OCTOBER 2020 **OCTOBER 2019** The trustees are pleased to present their report for the year ended 31[st] October 2020 October 2019 for the charity, Power of the Holy Ghost Church with charity number 1163795. The Trustees of the charity are: Pastor Boniface Kariuki Ms Luliia Popova Ms Sarah King’ori The principal address of the charity is : 27 Redhouse Crescent Cardiff CF5 4FB ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** The Charity governing document is a CIO – Foundation Constitution registered 1[st] October 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. **2** ## **FINANCIAL REVIEW** The income of the charity is above £4,000. This is a good amount for this year of the The income of the charity is above £3,000. 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 its equipment. . ## **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 27 JULY 2021 and signed on their behalf by: Approved by the Trustees on 3[rd] th August 2020 and signed on their behalf by: _____________________________________________ **3** ## **POWER OF THE HOLY GHOST CHURCH** ## **ACCOUNTS FOR THE YEAR ENDED 31st October 2020ACCOUNTS FOR THE YEAR ENDED 31st October 2019** ## **1 Receipts & Payments Account (General Purpose Fund)** **----- Start of picture text -----**
Income Receipts £/ 2019 £/ 2020 £/2018 £/2019
Tithes and Offerings 3128 4072 2062 3128
Interest 0
Total Receipts 31284072 2062 3128
Direct Charitable Expenditure
Hire of Hall 1500 500 1500 1500
Conference costs 800 850 500 800
Professional fees 0 0
Ordination expenses 0 0
Printing 225 300 201 225
Admin 250 260 240 250
Bookkeeping costs 120 120
Supplies 157 200 157
ZOOM/ONLINE Services 150
3052 2380 2561 3052
Other Expenditure
1442
Equipment 0 0
Instruments 0 0
0 0
Total Payments 30523822 2561 3052
Net Receipts/(Payments) for the year 76 250 41 76
Adjustment -285
Cash Funds brought forward 41117 285
Cash Funds at the end of the year 125117 41 76
4
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## **POWER OF THE HOLY GHOST CHURCH** **----- Start of picture text -----**
22 Statements of Assets and Liabilities at 31st October 2020Statements of Assets and Liabilities at 31st October 2019
Monetary Assets
Cash Funds Unrestricted Funds
£/2019£/2020 £/2018£/2019
£ £
Cash at hand and in bank £ 125 117 £ [117] 41
Total Cash Funds 125 117 117 41
Assets Retained for the
Charity's Own use
Non-monetary Assets and Liabilities
Musical Instruments 256 320 256
Equipments 480 1442 600 480
736 1698 920 736
Liabilities
Bookkeeping 120 120
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These accounts were approved by the trustees and signed on their behalf by: Pastor Boniface Kariuki ________________________________________________ **5** **POWER OF THE HOLY GHOST CHURCH** ## **NOTES TO THE FINANCIAL STATEMENTS** ## ~~**FOR THE YEAR ENDED 31st October 2020**~~ **FOR THE YEAR ENDED 31st October 2019** ## **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. ## **Adjustments** This deals with finds that had already been included in the income and balance. **6**