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← Ministery The Glory Of Shaddai

2024-09-01-accounts

MINISTERY THE GLORY OF SHADDAI

Charity No. 1167114

Trustees' Report and Unaudited Accounts

01 September 2024

MINISTERY THE GLORY OF SHADDAI Contents

Pages
Trustees' Annual Report 2
Independent Examiner's Report 3
Statement of Financial Activities 4
Balance Sheet 5
Statement of Cash flows 6 to 10
Notes to the Accounts 11
Detailed Statement of Financial Activities 12 to 13

Page 1

MINISTERY THE GLORY OF SHADDAI Trustees Annual Report

The trustees present their report with the unaudited financial statements of the charity for the year ended 1 September 2024.

REFERENCE AND ADMINISTRATIVE DETAILS

Charity No. 1167114

Trustees

The following trustees served during the year:

Claudia Pabon David Galeano Deyanira Perea

Accountants

Borasana Limited 55 Jasmine Grove London SE20 8JY

Statement of trustees' responsibilities in relation to the financial statements

The charity trustees are responsible for preparing a trustees' annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.

Signed on behalf of the charity's trustees

Claudia Pabon Trustee 01 September 2024

Page 2

MINISTERY THE GLORY OF SHADDAI Independent Examiners Report

Independent Examiner's Report to the trustees of MINISTERY THE GLORY OF SHADDAI

I report to the trustees on my examination of the financial statements of MINISTERY THE GLORY OF SHADDAI for the year ended 1 September 2024.

Responsibilities and basis of report

As the charity's trustees you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 ('the Act').

I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

I have completed my examination. I can confirm that no material matters have come to my attention in

connection with the examination giving me cause to believe that in any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

Orvil Plummer ACCA Borasana Limited 55 Jasmine Grove London

SE20 8JY

01 September 2024

Page 3

MINISTERY THE GLORY OF SHADDAI Statement of Financial Activities

for the year ended 1 September 2024

Notes
Income and endowments
from:
Donations and legacies
3
Investments
4
Total
Expenditure on:
Charitable activities
5
Other
6
Total
Net gains on investments
Net income
Transfers between funds
Net income before other
gains/(losses)
Other gains and losses
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 Unrestricted
funds		 Total funds Total funds
2024 2024 2023
£ £ £
121,285 121,285 63,917
7 7 -
121,292 121,292 63,917
32,074 32,074 35,265
83,821 83,821 26,285
115,895 115,895 61,550
- - -
5,397 5,397 2,367
- - -
5,397 5,397 2,367
5,397 5,397 2,367
(2,112) (2,112) (255)
3,285 3,285 2,112

Page 4

MINISTERY THE GLORY OF SHADDAI Balance Sheet

at 1 September 2024

Charity No. 1167114 2024 2023
£ £
Fixed assets
Tangible assets 8 11,637 -
11,637 -
Current assets
Debtors 9 7,000 145
Cash at bank and in hand - 2,767
7,000 2,912
Creditors:Amount falling due within one year 10 (15,352) (800)
Net current (liabilities)/assets (8,352) 2,112
Total assets less current liabilities 3,285 2,112
Net assets excluding pension asset or liability 3,285 2,112
Total net assets 3,285 2,112
The funds of the charity
Restricted funds 11
Unrestricted funds 11
General funds 3,285 (2,112)
3,285 (2,112)
Reserves 11
Total funds 3,285 (2,112)
Approved by the trustees on 01 September 2024

And signed on their behalf by: Claudia Pabon Trustee 01 September 2024

Page 5

MINISTERY THE GLORY OF SHADDAI Notes to the Accounts

for the year ended 1 September 2024

Basis of preparation

The financial statements have been prepared in accordance with Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic if Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.

Fund accounting

Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.

Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values.

Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.

Income

Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability.

Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA. Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income.

Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material.

Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets

Page 6

MINISTERY THE GLORY OF SHADDAI Notes to the Accounts

Expenditure

Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which it relates.

Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs. Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.

Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.

Trade and other debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.

Trade and other creditors

Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Receipt of donated goods, facilities and services

All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.

Page 7

MINISTERY THE GLORY OF SHADDAI

Notes to the Accounts

2 Statement of Financial Activities - prior year

Income and endowments from:
Donations and legacies
Total
Expenditure on:
Charitable activities
Other
Total
Net income
Net income before other
gains/(losses)
Other gains and losses:
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
3
Income from donations and legacies
Tithes and offerings
4
Income from investments		 Unrestricted
£
121,285
121,285
Unrestricted
£
7
7		 Unrestricted
funds
2023
£
63,917
63,917
35,265
26,285
61,550
2,367
2,367
2,367
(255)
2,112
Total
2024
£
121,285
121,285
Total
2024
£
7
7		 Total funds
2023
£
63,917
63,917
35,265
26,285
61,550
2,367
2,367
2,367
(255)
2,112
Total
2023
£
63,917
63,917
Total
2023
£
-
-

Page 8

MINISTERY THE GLORY OF SHADDAI Notes to the Accounts

5 Expenditure on charitable activities

Expenditure on charitable
activities
Church activities
Governance costs
6
Other expenditure
Bank loan and overdraft
interest payable
Employee costs
Motor and travel costs
Premises costs
General administrative costs
Legal and professional costs
7
Staff costs
Salaries and wages
No employee received emoluments in excess of £60,000.
8
Tangible fixed assets
Cost or revaluation
Additions
At 1 September 2024
Net book values
At 1 September 2024
9
Debtors
Other debtors
Prepayments and accrued income		 Unrestricted
£
32,074
32,074
Unrestricted
£
2,200
17,765
2,419
54,279
1,943
5,015
83,621
2024
8,760
8,760
2024
£
-
7,000
7,000		 Total
2024
£
32,074
32,074
Total
2024
£
2,200
17,765
2,419
54,279
1,943
5,015
83,621
£
11,637
11,637
11,637		 Total
2023
£
35,265
35,265
Total
2023
£
-
8,856
718
13,800
2,511
400
26,285
2023
4,600
4,600
£
11,637
11,637
11,637
2023
£
145
-
145

Page 9

MINISTERY THE GLORY OF SHADDAI Notes to the Accounts

10 Creditors:

amounts falling due within one year

Other loans
Accruals
11 Movement in funds
Restricted funds:
Unrestricted funds:
General funds
Total funds
12 Analysis of net assets between funds
Fixed assets
Net current assets
13 Reconciliation of net debt
Cash and cash equivalents
Borrowings
Net debt		 2024
£
15,352		 2023
£
-
- 800
At 2
September
2023
(2,112)
(2,112)		 15,352
Incoming
resources
(including
other
gains/losses
)
£
121,292
121,292
At 2
September
2023
£		 Resources
expended
£
(115,895)
(115,895)
Unrestricted
funds
£
11,637
(8,352)
3,285
Cash flows
£		 800
At 1
September
2024
£
3,285
3,285
Total
£
11,637
(8,352)
3,285
At 1
September
2024
£
2,767 (2,767) -
2,767
-		 (2,767) -
(15,352)
(15,352)
-
2,767		 (15,352)
(18,119)		 (15,352)
(15,352)

Page 10

MINISTERY THE GLORY OF SHADDAI Statement of Cash flows

for the year ended 1 September 2024

Cash flows from operating activities
Net income per Statement of Financial Activities
Adjustments for:
Dividends, interest and rents from investments
Increase in trade and other receivables
(Decrease)/Increase in trade and other payables
Net cash (used in)/provided by operating activities
Cash flows from investing activities
Payments for property, plant and equipment
Dividends, interest and rents from investments
Net cash used in investing activities
Cash flows from financing activities
Repayment of borrowings
Net cash from financing activities
Net increase in cash and cash equivalents
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year		 2024
£
5,397
(7)
(6,855)
(800)
(2,265)
(11,637)
7
(11,630)
15,352
15,352
1,457
2,767
4,224		 2023
£
2,367
-
-
400
2,767
-
-
-
-
-
2,767
-
2,767
Components of cash and cash equivalents
Cash and bank balances - 2,767
- 2,767

Page 11

MINISTERY THE GLORY OF SHADDAI Detailed Statement of Financial Activities

for the year ended 1 September 2024

Income and endowments from:
Donations and legacies
Tithes and offerings
Investments
Total income and endowments
Expenditure on:
Charitable activities
Church activities
Total of expenditure on charitable
activities
Other expenditure
Bank loan and overdraft interest
payable
Corporation tax charge/(credit)
Employee costs
Salaries/wages
Staff entertainment
Staff training
Motor and travel costs
Vehicles - General costs
Travel and subsistence
Premises costs
Rent
Rates
Light, heat and power
Premises repairs and
maintenance
General administrative costs,
including depreciation and
amortisation
General insurances
Postage and couriers		 Unrestricted
funds
2024
£
121,285
121,285
7
7
121,292
32,074
32,074
32,074
2,200
200
2,400
8,760
3,707
5,298
17,765
1,637
782
2,419
53,280
54
50
895
54,279
371
270		 Total funds
2024
£
121,285
121,285
7
7
121,292
32,074
32,074
32,074
2,200
200
2,400
8,760
3,707
5,298
17,765
1,637
782
2,419
53,280
54
50
895
54,279
371
270		 Total funds
2023
£
63,917
63,917
-
-
63,917
35,265
35,265
35,265
-
-
-
4,600
173
4,083
8,856
718
-
718
13,800
-
-
-
13,800
343
-

Page 12

MINISTERY THE GLORY OF SHADDAI Detailed Statement of Financial Activities

Software, IT support and related
costs
Stationery and printing
Subscriptions
Sundry expenses
Telephone, fax and broadband
Legal and professional costs
Audit/Independent examination
fees
Accountancy and bookkeeping
Other legal and professional
costs
Total of expenditure of other costs
Total expenditure
Net gains on investments
Net income
Net income before other
gains/(losses)
Other Gains
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 200
84
700
-
318
1,943
1,020
-
3,995
5,015
83,821
115,895
-
5,397
5,397
-
5,397
(2,112)
3,285		 200
84
700
-
318
1,943
1,020
-
3,995
5,015
83,821
115,895
-
5,397
5,397
-
5,397
(2,112)
3,285		 -
83
419
1,638
28
2,511
-
400
-
400
26,285
61,550
-
2,367
2,367
-
2,367
(255)
2,112

Page 13