## **POWERHOUSE C  HURCH** 

## **FINANC  IA  L ST  ATEME  NTS** 

## **FOR THE YEAR ENDED 31[ST] OCTOBER 2024** 

**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**<br>|**g**<br>**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**||



**1** 



## **POWERHOUSE CHURCH** 

## **TRUSTEES’ REPORT YEAR ENDED 31[S][T ]** OCTOBER 2024 

The trustees are pleased to present their report for the year ended 31[s][t ] October 2024 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. 

**2** 



## **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. 

. 

## **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** 26 Aug 2025 and signed on their behalf by: 

_____________________________________________ 

3 



## P  OWE  RHOUSE CHURCH 

## **ACC  OUNT S F O R T  H E YE A R E  NDE D 31  st Octob er 2024** 

## 1 Receipts & Payments Account (General Purpose Fund) 

|Income Receipts<br>Tithes andOfferings<br>Interest<br>TotalReceipts|£/ 2024<br>£/2023<br>12,325.76       17,192.13<br>0<br>**12,325.76                 17,192.13**|
|---|---|



## Direct Charitable Expenditure 

|Hall hire|2207.5|4050|
|---|---|---|
|Events/ Activities Conference Costs|4000|5000|
|Professional fees|0|0|
|Ordination expenses|0|0|
|Printing/Banners/ Flyers/Envelopes|1000|1000|
|General administration|152.87|600|
|Outreach/ bookkeeping|650|600|
|Supplies/hospitality|3500|3000|
|Zoom|155|150|
|Utilitybills. Phone,media,I know church App|1000|480|
||12665.37|14880|




**----- Start of picture text -----**<br>
Other Expenditure<br>Equipment<br>0             2002.79<br>Instruments<br>0 0<br>Total Payments 12665.37 16882.79<br>Net Receipts/(Payments) for the year<br>Cash Funds brought forward 0                       310<br>Cash Funds at the end of the year -339.61 310<br>**----- End of picture text -----**<br>


**4** 



## P  O  WE  R  HOUSE CHURCH 

|**2 **|**Statements of Assets and Liabilities at 31st October **|**Statements of Assets and Liabilities at 31st October **|**Statements of Assets and Liabilities at 31st October **|**2024**|**2024**|
|---|---|---|---|---|---|
||Monetary Assets|||||
||Cash Funds|Unrestricted Funds||||
|||**£/2024**|||**£/2023**|
||Cash athand and in bank|**£**-339.61|||**£310**|
||TotalCash Funds|||||
|||-339.61|||310|
||Assets Retainedfor the|||||
||Charity'sOwn use|||||
||Non-monetary Assets and Liabilities|||||
||MusicalInstruments||0||256|
||Equipments||0||2002.79|
||||0||2258.79|
||Liabilities|||||
||Bookkeeping||650||600|



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

**5** 



## 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 2024** 

## 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 assets 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. 


**6**