Faith Power Christian Centre Trustees Annual Report The trustee, who is also a direttor of the charity for the purposes of the Companies Att 2006, presents their report with the unaudited financial statements of the charity for the year ended 31 December 2024. REFERENCE AND ADMINISTRATIVE DETAILS Company No. CE007796 Charity No. 1168106 Principal Office 463 East Bank Road Sheffield S2 2AE Registered Office 463 East Bank Road Sheffield S2 2AE Dirertor and Trustee The Director of the charitable company are its Trustee for the purposes of charity law. The following Dirertor and Trustee served during the year: V. Hakunandaba Dirertors of Corporate Trustees Bishop Velapi Hakunandaba Godwin Karimatsenga Takudzwa Hungoidza Lisa Tinotenda Ndelemani Accountants KBN Accounting Services 40 Hazlebarrow Grove 58 8AT OBJECTIVES AND ACTIVITIES The purpose of this church is to promote the furtherance of Chrisvs kingdom here on earth by the preaching of the whole counsel of God as contained in his inspired word, and to carry on any other activities which further any of the Trust Purpose/mission above. The Prevention Or Relief Of Poverty Page 2
Faith Power Christian Centre Trustees Annual Report The main activities is to advance the Christian faith in such ways and in such parts of the United Kingdom. To relieve sickness and financial hardship and to promote and preserve good health by the provision of funds, goods or services of any kind including through the provision of counselling and support in such parts of the United Kingdom or the world as the trustees from time to time may think fit. Faith Power Christian Centre holds weekly church meetings on Sunday'5 and Wednesday's as well as hosting conferences in Sheffield and attending other church meetings in the UK. Faith Power Christian Centre IFPCCI is committed to enabling as many people as possible to worship at our church. When planning the activities forthe year the trustees has considered the Commission's guidance on public benefit and in particular the specific guidance on charities for advancement of religion. To advance the Christian faith in such ways and in such parts of the United Kingdom funds, goods or services of any kind including through the provision of counselling and support in such parts of the United Kingdom or the world as the trustees from time to time may think fit. To relieve sickness and financial hardship and to promote and preserve good health by the provision of ACHIEVEMENTS AND PERFORMANCE At International level, Faith Power Christian Centre has planted 5 new related churches in Zimbabwe which started with about ten members and has since grown to well above one hundred members as at present. This has helped the community as well contributing to reducing crime in the area. The ministry is helping people to develop and to do self-reliant projects and reducing stress and poverty. The church has been supporting the community by providing food and clothes to those in need.This year we have been successful in welcoming more families into our church and have agreed a new style of Family Worship every Firiday evenings.The new arrangement has been well received since it came in operation As well as our regular services, we enable our community to celebrate and thank God at thanks giving services. Through baptism we thank God for the gift of life. in marriage public vows are exchanged with God's blessing. We have celebrated 10 baptisms and 3 weddings in our church. FINANCIAL REVIEW Total receipts on ordinary unrestritted funds were£12.729 and the total expenditure is £17,848 . These are detailed in the financial statements .The net result for the year is a deficit of £5,119. I t Is FPCC policy to maintain a balance on unrestricted funds lif possible), which equates to at least 2 months unrestricted payments to cover emergencies that arises. FPCC does not have any concerns on its going concern as it has continued to grow. Due to high cost of living the donations has decreased and this has led to he deficit. STRUCTURE, GOVERNANCE AND MANAGEME FPCC governing document is by a Constitution and it is Charitable Incorporated Organisation IICOI The methods adopted for the recruitment and appointment of new trustees is set out in FPCC Constitution.FPCC in general meeting shall elect the officers and the trustees. The Trustee is 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 Companies Act 2006. The Trustee is also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities. Page 3
Faith Power Christian Centre Trustees Annual Report The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP {FRS 1021. Signed on behalf of the board V. Hakunandaba Trustee 31 December 2024 Page 4
Faith Power Christian Centre Charity No. 1168106 Company No. CE007796 Trustee's Report and Unaudited Accounts 31 December 2024
Faith Power Christian Centre Contents Pages Trustee's Annual Report Statement of Financial Activities Summary Income and Expenditure Account Balance Sheet Statement of Cash flows Notes to the Accounts Detailed Statement of Financial Attivities Page I
Faith Power Christian Centre Trustees Annual Report The trustee, who is also a direttor of the charity for the purposes of the Companies Att 2006, presents their report with the unaudited financial statements of the charity for the year ended 31 December 2024. REFERENCE AND ADMINISTRATIVE DETAILS Company No. CE007796 Charity No. 1168106 Principal Office 463 East Bank Road Sheffield S2 2AE Registered Office 463 East Bank Road Sheffield S2 2AE Dirertor and Trustee The Director of the charitable company are its Trustee for the purposes of charity law. The following Dirertor and Trustee served during the year: V. Hakunandaba Dirertors of Corporate Trustees Bishop Velapi Hakunandaba Godwin Karimatsenga Takudzwa Hungoidza Lisa Tinotenda Ndelemani Accountants KBN Accounting Services 40 Hazlebarrow Grove 58 8AT OBJECTIVES AND ACTIVITIES The purpose of this church is to promote the furtherance of Chrisvs kingdom here on earth by the preaching of the whole counsel of God as contained in his inspired word, and to carry on any other activities which further any of the Trust Purpose/mission above. The Prevention Or Relief Of Poverty Page 2
Faith Power Christian Centre Trustees Annual Report The main activities is to advance the Christian faith in such ways and in such parts of the United Kingdom. To relieve sickness and financial hardship and to promote and preserve good health by the provision of funds, goods or services of any kind including through the provision of counselling and support in such parts of the United Kingdom or the world as the trustees from time to time may think fit. Faith Power Christian Centre holds weekly church meetings on Sunday'5 and Wednesday's as well as hosting conferences in Sheffield and attending other church meetings in the UK. Faith Power Christian Centre IFPCCI is committed to enabling as many people as possible to worship at our church. When planning the activities forthe year the trustees has considered the Commission's guidance on public benefit and in particular the specific guidance on charities for advancement of religion. To advance the Christian faith in such ways and in such parts of the United Kingdom funds, goods or services of any kind including through the provision of counselling and support in such parts of the United Kingdom or the world as the trustees from time to time may think fit. To relieve sickness and financial hardship and to promote and preserve good health by the provision of ACHIEVEMENTS AND PERFORMANCE At International level, Faith Power Christian Centre has planted 5 new related churches in Zimbabwe which started with about ten members and has since grown to well above one hundred members as at present. This has helped the community as well contributing to reducing crime in the area. The ministry is helping people to develop and to do self-reliant projects and reducing stress and poverty. The church has been supporting the community by providing food and clothes to those in need.This year we have been successful in welcoming more families into our church and have agreed a new style of Family Worship every Firiday evenings.The new arrangement has been well received since it came in operation As well as our regular services, we enable our community to celebrate and thank God at thanks giving services. Through baptism we thank God for the gift of life. in marriage public vows are exchanged with God's blessing. We have celebrated 10 baptisms and 3 weddings in our church. FINANCIAL REVIEW Total receipts on ordinary unrestritted funds were£12.729 and the total expenditure is £17,848 . These are detailed in the financial statements .The net result for the year is a deficit of £5,119. I t Is FPCC policy to maintain a balance on unrestricted funds lif possible), which equates to at least 2 months unrestricted payments to cover emergencies that arises. FPCC does not have any concerns on its going concern as it has continued to grow. Due to high cost of living the donations has decreased and this has led to he deficit. STRUCTURE, GOVERNANCE AND MANAGEME FPCC governing document is by a Constitution and it is Charitable Incorporated Organisation IICOI The methods adopted for the recruitment and appointment of new trustees is set out in FPCC Constitution.FPCC in general meeting shall elect the officers and the trustees. The Trustee is 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 Companies Act 2006. The Trustee is also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities. Page 3
Faith Power Christian Centre Trustees Annual Report The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP {FRS 1021. Signed on behalf of the board V. Hakunandaba Trustee 31 December 2024 Page 4
Faith Power Christian Centre Statement of Financial Activities for the year ended 31 December 2024 Unrestricted funds Total funds Totsl funds 2024 2024 2023 Notes Income and endowments from: Donations and legacies Charitable activities 7,417 12,729 12,729 Total 12,729 12,729 7,417 Expenditure on: Other 17.848 17,848 11,493 Total 17.848 17,848 11.493 Net gains on investments Net expenditure Transfers between funds 15,1191 {5,1191 14,0761 Net expenditure before other 8ains/(losses) 15,119} 15,1191 14,0761 Other gains and losses Net movement in funds 15,119} {5,1191 14,0761 Reconciliation of funds: Total funds brought forward 2,656 2,656 6,732 Total funds carried forward 12,4631 12,4631 2.656 Page 5
Faith Power Christian Centre Summary Income and Expenditure Account for the year ended 31 December 2024 2024 2023 Income 12,729 7,417 Gross income for the year Expenditure 12.729 7,417 17,848 11,493 Total expenditure for the year 17.848 11.493 Net expenditure before tax for the year 15,119) 14,0761 Net expenditure for the year 15,119} 14,0761 Page 6
Faith Power Christian Centre Balance Sheet at 31 December 2024 Company No. CE007796 Notes 2024 2023 Fixed assets Tangible assets Current assets Cash at bank and in hand 2.006 2,006 {4.4691 {2.4631 {2,4631 2,656 2,656 Creditors: Amount falling due within one year Net current Iliabilities)/assets Total assets less current liabilities 2.656 2,656 Net (liabilities)/assets excluding pension asset or liability {2,4631 2,656 Total net (liabilities)/assets {2,4631 2,656 The funds of the charity Restricted funds Unrestricted funds General funds io io {2.4631 2,656 {2.4631 2.656 Reserves io Total funds {2,4631 2,656 These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2(M)6 relating to small companies. For the year ended 31 December 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Companies Art 2006 with respect to accounting records and the preparation of accounts. Approved by the board on 31 December 2024 And signed on its behalf by: V. Hakunandaba Trustee 31 December 2024 Page 7
Faith Power Christian Centre Statement of Cash flows for the year ended 31 December 2024 2024 2023 Cash flows from operating artivities Net expenditure per Statement of Financial Artivities {5,1191 14,0761 Adjustments for: Increase in trade and other payables 4,469 Net cash used in operating activities (6501 14,0761 Net cash from investing artivities Net cash from financing artivities Net decrease in cash and cash equivalents 16501 14.0761 Cash and cash equivalents at the beginnin8 of the year 2,656 6,732 Cash and cash equivalents at the end of the year 2,006 2,656 Components of cash and cash equivalents Cash and bank balances 2,006 2,656 2.006 2,656 Page 8
Faith Power Christian Centre Notes to the Accounts for the year ended 31 December 2024 l Accounting policies Basis of preparation The financial statements have been prepared in accordance with 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 IFRS 1021 leffective I January 20151 {Charities SORP {FRS 102}), the Financial Reporting standard applicable in the UK and Republic of Ireland (FRS 1021 and the Companies Act 21x16. Change in basis of accounting or to previous accounts There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years. Fund accounting Unrestricted fund5 These are available for use at the discretion of the trustees in furtherance of the general objects of the charity. These are unrestricted funds earmarked by the trustees for particular purpose5. These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values. These are available for use subject to restrictions imposed by the donor or through terms of an appeal. Designated funds Revaluation funds Restricted funds Income Recognition of income Income is included in the Statement of Financial Activities ISOFAI when the charity 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 the SOFA when receivable and only when the Charity has unconditional entitlement to the income. legacies 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/llossesl on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gainslllossesl on investment assets This includes any gain or loss on the sale of investments. Page 9
Faith Power Christian Centre Notes to the Accounts Expenditure Recognition of expenditure Expenditure is recognised on an accruals basis. Expenditure includes any VAT which 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. 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. These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any auditlindependent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs. These are support costs not allocated to a particular activity. Grants payable Governance costs Other expenditure Taxation The charity is exempt from corporation tax on its charitable activities. Tangible fixed assets and depreciation Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life: Musical Instruments & Equipment 16% Strainght line Freehold investment property Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or105ses are taken to the Statement of Financial Activities as they arise. Stocks Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market. 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. Page 10
Faith Power Christian Centre Notes to the Accounts 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. Research and development Expenditure on research and development is written off in the year in which it is incurred. Foreign currencies Monetary assets and liabilities denominated in currencies other than the funttional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period. Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred. All exchange differences are are taken into account in arriving at net incomelexpenditure. Leased assets Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease. Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases. Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduttion of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs. Assets held under finance leases are depreciated in the same way as owned assets. Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentive5 are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduttion of rental expense on a straight-line basis. Pension costs The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds. Receipt of donated goods, facilities and ServIS All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity. Page 11
Faith Power Christian Centre Notes to the Accounts 2 Company status The company is a private company limited by guarantee and consequently does not have share capital. 3 Statement of Financial Activities- prior year Unrestricted funds Total funds 2023 2023 Income and endowments from: Charitable activities 12,729 12,729 Total 12,729 12,729 Expenditure on: Charitable activities 17.848 17,848 Total 17,848 17,848 Net income 15.1191 {5.1191 Net income before other 8ains/(losses) Other gains and losses: 15,1191 {5,1191 Net movement in funds 15.1191 {5.1191 Reconciliation of funds: Total funds brought forward 6,732 6,732 Total funds carried forward 1,613 1,613 4 Income from donations and legacies Total Total 2024 2023 Tithes 7,417 7,417 5 Income from charitable artivities Unrestrirted Total Total 2024 2023 12,729 12,729 12.729 12,729 Page 12
Faith Power Christian Centre Notes to the Accounts 6 Other expenditure Unrestrirted Total Total 2024 2023 Employee costs Motor and travel costs 4,000 7,910 3,055 2,283 4,000 7,910 3.055 2,283 1,425 4,455 2.350 2,663 Premises costs General administrative costs Legal and professional costs 600 6C(J 600 17,848 17,848 11,493 7 Staff costs No employee received emoluments in excess of £60,(KK). 8 Tangible fixed assets Musical Instruments Total Equipment 9 Creditors: amounts falling due within one year 2024 2023 Accruals 4,469 4,469 10 Movement in funds Incoming resources (including other At l January 8ains/losses 2024 At31 December Resources expended 2024 Restricted funds: Unrestricted funds: General funds 2.656 12,729 {17.8481 {2.4631 Total funds 11 Analysis of net assets between funds 2,656 12,729 117,8481 {2,4631 Unrestrirted funds Total Net current assets 12,4631 12.4631 (2,4631 {2.4631 Page 13
Faith Power Christian Centre Notes to the Accounts 12 Reconciliation of net debt At31 At l January 2024 December Cash flows 2024 Cash and cash equivalents 2,656 2,656 16501 16501 2,006 2,006 Net debt 2,656 16501 2,006 13 Related party disclosures Controlling party The company is limited by guarantee and has no share capital- thus no single party controls the company. Page 14
Faith Power Christian Centre Detailed Statement of Financial Artivities for the year ended 31 December 2024 Unrestricted funds Total funds Total funds 2024 2024 2023 Income and endowments from: Donations and legacies Tithes 7,417 7,417 Charitable activities 12,729 12.729 12,729 12,729 Total income and endowments 12,729 12,729 7,417 Expenditure on: Employee costs Staff training 4.OLN) 4,000 4,000 4,000 1,425 1,425 Motor and travel costs Travel and subsistence 7,910 7.910 7,910 7.910 4,455 4,455 Premises costs Rent 3,055 3.055 3,055 3,055 2,350 2,350 General administrative costs, including depreciation and amortisation Depreciation of Musical Instruments & Equipment Equipment expensed General insurances Stationery and printing Sundry expenses Telephone, fax and broadband 295 295 440 388 388 333 2C(J 200 264 400 1,4QKI 2.283 1,226 2,663 2.283 Legal and professional costs Accountancy and bookkeeping 61x1 600 600 6(M) 600 600 Total of expenditure of other costs Total expenditure 17.848 17,848 11.493 17.848 17,848 11.493 Net gains on investments Net expenditure {5,1191 (5,1191 14,0761 Net expenditure before other gainsl(losses) {5.1191 (5.1191 14,0761 Page 15
Faith Power Christian Centre Detailed Statement of Financial Artivities Other Gains Net movement in funds {5.1191 15,1191 14,0761 Reconciliation of funds: Total funds brought forward 2,656 2,656 6,732 Total funds carried forward {2.4631 12.4631 2,656 Page 16