2023-10-31-accounts

POWERHOUSE C HURCH

FINANC IA L ST ATEME NTS

FOR THE YEAR ENDED 31[ST] OCTOBER 2023

C H ARITY N U MB E R: 1163 795

POWERHOUSE CHURC H 27 REDHOU SE CR E SCE N T CARDI FF CF5 4F B

	INDEX
		Pa	g e
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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POWERHOUSE CHURCH

TRUSTEES’ REPORT YEAR ENDED 31[S][T ] OCTOBER 2023

The trustees are pleased to present their report for the year ended 31[s][t ] October 2023 for the charity, Powerhouse Church with charity number 1163795.

The Trustees of the charity are: Pastor Boniface Kariuki Ms Iuliia 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[s][t ] 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.

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FINANCIAL REVIEW

The income of the charity is above £4,000. 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.

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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 has 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 2nd SEPT 2024 and signed on their behalf by:

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P OWE RHOUSE CHURCH

ACC OUNT S F O R T H E YE A R E NDE D 31 st Octob er 2023

• 1 Receipts & Payments Account (General Purpose Fund)

Income Receipts Tithes andOfferings Interest Total Receipts	£/ 2023 £/2022 17,192.13 5608.99 0 17,192.13 5608.99

Direct Charitable Expenditure

Hall of hire	4050	2000
Events/ Activities Conference Costs	5000	2000
Professional fees	0	0
Ordination expenses	0	0
Printing/Banners/ Flyers/Envelopes	1000	300
General administration	600	250
Outreach/ bookkeeping	600	200
Supplies/hospitality	3000	100
Zoom	150	150
Streamyard	480	400
	14880	5400

Other Expenditure Equipment Instruments Total Payments Net Receipts/(Payments) for the year Cash Funds brought forward Cash Funds at the end of the year	2002.79 284.11 0 0 16882.79 5684.11 -75.12 310 0 310 125

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P O WE R HOUSE CHURCH

**2 **	**Statements of Assets and Liabilities at 31st October **	**Statements of Assets and Liabilities at 31st October **	2023
	Monetary Assets
	Cash Funds	Unrestricted Funds
		£/2023	£/2022
	Cash athand and in bank	£310	£0
	Total Cash Funds
		310	0
	Assets Retained for the
	Charity's Own use
	Non-monetary Assets and Liabilities
	MusicalInstruments	256		256
	Equipments	2002.79		284.11
		2258.79		540.11
	Liabilities
	Bookkeeping	600		200

These accounts were approved by the trustees and signed on their behalf by: Pastor Boniface Kariuki _ _ _ _ _ __ _ ___ ___

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P OWE RHOUSE CHURCH NO T ES T O T HE FINA N C IA L ST ATE ME NTS

FO R TH E Y E A R ENDED 31st October 2023

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.

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