REGISTERED CHARITY NUMBER: 1165076 ## **REPORT OF THE TRUSTEES AND** ## **UNAUDITED FINANCIAL STATEMENTS** **FOR THE YEAR ENDED 30 SEPTEMBER 2022** **FOR** ## **HOUSE OF MERCY CHURCH WORLDWIDE** 57 Acworth House Barnfield Road, London, SE18 3TP 1 | P a g e ## **HOUSE OF MERCY CHURCH WORLDWIDE** **Contents of the Financial Statements for the Year Ended 30 SEPTEMBER 2022** ||Page|| |---|---|---| |Report of the Trustees|3|| |Independent Examiner’s Report|4|| |Income and expenditure account|5|| |Balance sheet|6|| |Notes to the Financial Statements|7 to|8| 2 | P a g e ## **HOUSE OF MERCY CHURCH WORLDWIDE Report of the Trustees for the Year Ended 30 SEPTEMBER 2022** The trustees present their report with the financial statements of the charity for the year ended 30 SEPTEMBER 2022. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). ## **Objectives and activities** The Charity’s objects (the objects) are House of Mercy Church Worldwide (HMCW) is committed to enabling as many people as possible to worship God at our church and become part of the HMCW family. Our services and worship put Christian faith into practice through prayer and scripture, music, breaking of bread, wine and sacrament. We are also keen to reach out to communities, support the most venerable, and promote the gospel of Christ ## **Financial review** Cash reserves at the end of the year are adequate to support the continuation of current activities. ## **Risk Analysis** The trustees have assessed the major risks to which the charity is exposed to and are satisfied that systems are in place to mitigate exposure to major risks. ## **Grant making policy** During the period CIO had not made any grants. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Governing document** The charity is controlled by its governing document dated 21 September 2015 and constitutes a charitable incorporated organisation. ## **REFERENCE AND ADMINISTRATIVE DETAILS** ## **Registered Charity number** ## **1165076** ## **Trustees** John Umunna Chioma Ekwedike Aloysius Augustine Approved by order of the board of trustees on 30 June 2023 and signed on its behalf by: ## **John Umunna - Trustee** 3 | P a g e ## **Independent Examiner’s Report** ## **to the trustees of HOUSE OF MERCY CHURCH WORLDWIDE** I report on the accounts of the Charity for the year ended 30th September 2022 which are set out on pages 5 to 8. ## **Respective responsibilities of trustees and examiner** The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed. It is my responsibility to: - examine the accounts under section 145 of the Charities Act; - to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the Charities Act; and - to state whether particular matters have come to my attention. ## **Basis of Independent Examination's Statement** My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity 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 no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below. ## **Independent Examiner’s Statement** In connection with our examination, no matter has come to my attention: 1. which gives reasonable cause to believe that in, any material respect, the requirements (a) to keep accounting records in accordance with section 130 of the Charities Act; and (b) to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the Charities Act have not been met; or 2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. A Kwesi Collinson & Co Chartered Certified Accountants Suite 1 St George’s Chambers, South Mall, London, N9 0TS 30 June 2023 4 | P a g e ## **HOUSE OF MERCY CHURCH WORLDWIDE** ## **Income and expenditure account for the Year Ended 30 SEPTEMBER 2022** ||**Total**| |---|---| ||**£**| |**INCOME**|| |Income Received|30,909| |Interest received|0| ||--------| |TOTAL INCOME|30,909| |**EXPENDITURE**|| |Charitable activities|30,909| ||--------| |TOTAL EXPENDITURE|30,909| |NET SURPLUS OF INCOME OVER EXPENDITURE|**0**| ||=====| |**STATEMENT OF MOVEMENTS IN FUNDS**|| |**Unrestricted funds General fund**|| |Surplus of income over expenditure for the period|0| ||-------| |Balance at 30 SEPTEMBER 2022|0| ||=====| 5 | P a g e ## **HOUSE OF MERCY CHURCH WORLDWIDE** Balance Sheet At 30 SEPTEMBER 2022 |**Current assets**|£| |---|---| |Bank balance|25,795| |Amount Due within 1 year|(22,670)| ||--------| ||3,125| ||=====| |**The Funds of the Charity**|| |**Unrestricted fund**|3,125| ||--------| ||3,125| ||=====| The financial statements were approved by the Board of Trustees and authorised for issue on 30 June 2023 and were signed on its behalf by: (Sgd) John Umunnah - Trustee 6 | P a g e ## **HOUSE OF MERCY CHURCH WORLDWIDE** ## **Notes to the Financial Statements for the Year Ended 30 SEPTEMBER 2022** ## **1. ACCOUNTING POLICIES** ## **Basis of preparing the financial statements** The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. The charitable company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland': - the requirements of Section 7 Statement of Cash Flows. ## **Income** All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. ## **Expenditure** Liabilities including grants awarded are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure. ## **Taxation** The charity is exempt from corporation tax on its charitable activities. 7 | P a g e ## **HOUSE OF MERCY CHURCH WORLDWIDE** ## **Notes to the Financial Statements - continued for the Year Ended 30 SEPTEMBER 2022** ## **Fund accounting** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. ## **2. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 30 SEPTEMBER 2022. ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 30 SEPTEMBER 2022. 8 | P a g e