HIGHLY FAVOURED
MINISTRIES
Flnanclal A¢¢ounts
Tru$lg95 R9POrt
Ygar Ended
30th Aprll 2023
Chirlty no. 1166169

HIGHLY FAVOURED MINISTRIES
FINANCIAL STATEMENTS DIRECTORS TRUSTEES REPORT
YEAR ENDED 30 APRIL 2023
ADDRESS
TIMEBRIDGE COhlMUNITY CENTRE
FIELDWAY
NEW ADDINGTON
CROYDON
SURREY
CR09AZ
REGISTERED CHARITY NUMBER 1166169
CHARITY TRUSTEES
MR ISAAC ANOKYE AMOAH
MR BISMARK QBEN
MR KWAIJWOADJEI AMPOMAH
BANKER8
Lloyds 88nk ￿¢
25 &esham glreel
London
EC2V 7HN
ACCOUNTANT
C4u Olasode PhD, FCCA
TL Flr81
1 CoFers CoFe Ro&a
8eck8nham
Kent
BR3 1N8

HIGHLY FAVOUREO MINISTRIES
FINANCIAL STATEMENTS DIRECTORS AND TRUSTEES REPORT
YEAR ENDED 30 APRIL 2023
DIRECTORS. AND TRUSTEES. REPORT
TRUSTEES REPORT 2023
The Trustees are pleased to p￿Sen1their report and H￿hlY Favoured Ministries financial statements for the yearended
30 April 2023. These comply with currènt stalulory requiren*nts and th8 Stslem8nl of R8rom￿nd8d Practice
Accounb'ng and Reporting by Charities ISORPI 2015
Status
The Charity is consliluled by a conslilulion and registered wilh the Charity Commissioners under charity
number1166169
Charltablè Obl•¢ts
The Objects of the Charity are the advancement of..
The Christian religion through bul not exclusively the provision of services, rel￿￿￿uS education
classes, seminars arnl cnjsades.
Wilhin these Objects, the Charity also has various perynanenl endowments and un-endowed Injsl fundg
held for special purp)ses in connects'on with the acquis11ionldevelopmenl of a pemianent place of worship.
Board Policy
The Charity provides informal￿n, contacts, helps, counselling and financial support for charity members
and the comrnunity al large.
11 is our policy lo provide a building with various facilities to contribute to the community.
Revlew of actlvltiel and achievements
In the year 2023, we have seen Iremendous change and improvement in the way the charity is run.
Flnanclal activltles and result8
The lolal incoming resources for the year amounted lo £47,449 leajing lo a total funds carried fO￿ard of £
3,651 as al 30 April 2023.
Investment power8, policy and porfornHnce
The trustees, investment powers are g)verned by the constitution of the charity.
Re8oN
The board has wntinued lo ensure that the expenditure is focused on the smooth running of the charity lo
meet her daily needs of fulfilling the objectives.

HIGHLY FAVOURED MINISTRIES
FINANCIAL STATEMENTS DIRECTORS AND TRUSTEES REPORT
YEAR ENOED 30 APRIL 2023
Risk Management
The Trustees examine the major risks that the Ministry faces each financial year when preparing and
updating the strategic plan. The charity has develoFed systems lo monitor and control these risks to
mitigate any impact that they may have on the organisalion in the future.
Accounting and reportlng r•8ponsibilities
The Charities Act1993 requires the Trustees of the Charity lo prepare financial statements for each
financial year which give a true and fair view of the Charity's financial acb'vities during the year of ils
financial position at the end of the year.
In preparing the financial stalemenls, the Trijstees should follow best practi￿ and
Select suitable accounb'ng policies and apply them consislently;
Make judgements and eslimales that are reasonable and prudent.,
Follow applicable accounting Standards the Charities SORP, disclosing and explaining any
departures in the financial slalemenls., and
Prepare the financial slalemenls on the going concem basis unles811 Is inappropriate lo assume
that the Charity will continue in operatKsn.
The Trustees are responsible for keeping accounts'ng records, which are such as lo disclose, wilh
reasonable accuracy, the financial position of the Charity al nay bme, and lo enable them as injslees to
ensure that the financial sla18menls comply with charity law. The Trustees are also responsible lor
safeguarding the Charity's assets, and hence for taking reasonable steps for the prevention and deiection
of fraud and other irregularities,
Approved by the Board of Trustees and sF9ned on its khalf by:
Pastor
Dal•

HIGHLY FAVOUREO MINISTRIES
FINANCIAL STATEMENTS DIRECTORS AND TRUSTEES REPORT
YEAR ENDED 30 APRIL 2023
ACCOUNTANTS, AND INDEPENDENT EXAMINER'S REPORT
I report lo the tTuslees on my examination of the accounts of the Highly Favoured Ministries for the year
ended 30 April 2023.
Responslblllti•$ and ba818 of report
As the charity's Iruslees, you are resF4)nsible for the preparation of Ihe accounts in accordance Y￿th the
requirements of the Charities Act 20111.lhe Acfl. I report in respect of my examination of the Trust's
accounts carried out under section 145 of the 2011 Act and in carying out my examination, I have followed
all the applicable Directions given by the Charity Commissh)n under section 14515llbl of the Act
Independent examineW8 Statemant
l am qualified to undertake the examination by being a qualified member of the Chartered Association of
Certified Accounlanls IACCAI and Fellow of the Association IFCCAI.
I have completed my examination. I cnnfimi that no material mallers have come to my allenlion in
connection wtlh the examination lolher than that disclosed below'l which gives me cause lo klieve that
in, any material respect..
. the accounb'ng records were not kept in accordance with section 130 of the CharilK?s Act,. or
the accounts did not accord with the accounting records., or
the accounts did not comply with the applicable requirements conceming the form and conlenl of
accounts set out in the Charities (Accounts and Reports) Regulations 2008 olher than any requirement that
the accounts give a'true and fairf view which is not a matter considered as part of an independent
examination.
I have no concems and have come acToss no other matters in connection with Ihe examinat￿n lo Ithich
allenlion should be drawn in Ihis report in order lo enable a proper understanding ol the accounts lo be
reached.
Dr Olu Ola8ode FCCA
Chartered Certlfied Accountant
TL Flrst Accountants Llmited
TL Flrst Llmited
Dats:

HIGHLY FAVOURED MINISTRIES
FINANCIAL STATEMENTS DIRECTORS AND TRUSTEES REPORT
YEAR ENDED 30 APRIL 2023
STATEMENT OF FINANCIAL ACTIVITIES
2023
2023
2023 2022
Re$tri¢t¢d Unrestricted
Total Total
INCOMING RESOURCES
Actlvltles to further the charlty'8 object8
Grants and Donats'ons (Note 2)
47,449
47,449 47,807
Total Incoming Resources
47,449
47,449 47,807
RESOURCES EXPENDED
Costs of aetlvltles Sn furtherance of the
company's obJo¢ts
charitab￿ Activities (Note 3)
8,648
8,648 3,1 C
Governan￿ Costs (Note 41
39,545
39,545 50,510
Total Resources Expended
48,193
48,193 53,610
Net Incornlngl (Outgolng) Rosourcei
(744)
(744) 15,8031
Total Funds Brought Fornard
4,395
4,395 10,197
Total Fund$ Carrled Fonvard
3,651
3 651 4,39S

HIGHLY FAv￿RE0 MINISTRIES
FINANCIAL STATEMENTS DIRECTCRS AND TRUSTEES REPORT
YEAR ENDED 30 APRIL 2023
BALANCE SHEET
2023
2023 2022 2022
FIXED ASSETS {note 51
6,152
9,156
CURRENT ASSETS
Debtors (note 6)
Cash and Bank
2,5DJ
1,243
139
CURRENT LIABILITIES
Credltors - within one year Inole 7)
NET CURRENT ASSETS
3,743
3,139
Cr•dltorn- Not within one year {nole 81
NET ASSETS
Capltal And Ro8erv88
Fund I (loss)
3,651
4,395
NET ASSETS
3,651
4,395
Approv•d by tho 8oard of TruJteO8 on
'and 8igned on their behalf
Trustee

HIGHLY FAVOURED MINISTRIES
FINANCIAL STATEMENTS DIRECTORS AND TRUSTEES REPORT
YEAR ENDED 30 APRIL 2023
NOTES TO THE FINANCIAL STATEMENTS- 30 April 2Q22
ACCOUNTING POLICIES
Accountin
Convention & Com
liance
These accounts have ken drawn up on the basis of a going COn￿M and the financial
slalements prepared under the historical cost convention in accordance with applicable
Standards, Financial Reporting Standards and the Charities Acts 1992 & 1993. The
slalemenls comply with best practice and reflecl the requirements ofthe revised Ststementof
Recommended Practice, Accounb'ng and Reporting by Charitses (SORP 20051
Reco
nltlon of Incorne and Ex ondlture
Income and Expenditure are iecognised on an accrual basis. Donations and legacies are
accounted for as received and accrued only when a value can be established before payment
is re￿ived,
General Fund
Revenue giants and other income and expenditure associated with the general operations of
the charity and ils international projects are dealt with in the General Fund.
Restrlcted Fund
These comprise donations, legacies or other income, the use of which has been sFrtified by
the donor. There is currently no ￿striCted fund.
Endowment Fund
There is currenlly no endowment fund.
De
reclatlon
All fixed asseis over£1,CO) are capilalised. The chargefordeprecialion is calculated
lo write off Ihe cost of the fixed assets over their useful lives on the following basis..
Musical Instruments, furnilLtre, computer and aC￿sSOrIeS- 25% reducing balance
Motor vehicle
25% reducing balan

HifthLY FAVOLIRED MINISTRIES
FINANCIAL STATEMENTS AND TRUSTEES REPORT
YEAR ENDED 30 APRIL 2023
2. Donations and Similar Incoming Rosourcos
2023
2023 2023 2022
Restrlcted Unrestricted T¢)tsl Totsl
Tithes & offering
HMRC Gift-aid Repayment
39,548 39,548 38,564
7,901 7,901 9.243
47,449 47,449 47,807
3. Charltablo A¢tiviti03
2023 2022
Welfare IDonalion
Events & Retreats & catering
Books and printing
2,900 1,OCQ
3,e43 2,1CQ
2,105
8648 3100
4. GOVERNANCE COSTS
2023 2022
Accountancy Fee
Motor and Travel
Insurance
Depreciation
Phone & Internet
Rent
Council Tax
Admin expenses
1,728 1,889
953
1,196 1,351
3,004 3,052
949
948
31,345 41,770
546
815
39 545 50 509

HIGHLY FAVOURED MINISTRIES
FINANCIAL STATEMENTS ANO TRUSTEES REPORT
YEAR ENDED 30 APRIL 2023
5. Fixod A$s8ts
Musical
Property Equlpmenl
Van Motor vehicle
Total
COST
At 30 AprS12022
Additions
Disposals
At 30 Aprll 2023
11,431
3,500 14,931
3,500 14,931
DEPRECIATION
Accurnulated Dopr•ciation
Charye for th• year
2,857
2,917 5,774
147 3 004
3,064 8,778
5,716
NET BOOK VALUE
At 30 Aprll 2023
At 30 April 2022
436 6 152
583 9,156
8,573
O. DEBTORS - falling due within one year
2023 2022
Other debtors
2 5DJ 3,000
2500 3000
7. CREDITORS - falllng due after one year
20ZJ 2022
Other Creditors
6,244 7,9C4J
6 244 7,900
10