REGISTERED COMPANY NUMBER: 1169477 (England and Wales) ## REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 ## FOR FAITH CHAPEL MINISTRIES OF THE PENTECOSTAL ASSEMBLIES OF THE WORLD W M Mieres FCCA 12 Graham Road Mitcham Surrey CR4 2HA FAITH CHAPEL MINISTRIES OF THE PENTECOSTAL ASSEMBLIES OF THE WORLD CONTENTS OF THE FINANCIAL STATEMENTS for the Year Ended 31 March 2022 |||Page|| |---|---|---|---| |Report of the Trustees|1|to|2| |Independent Examiner's Report||3|| |Statement of Financial Activities||4|| |Balance Sheet|5|to|6| |Notes to the Financial Statements|7|to|12| |Detailed Statement of Financial Activities|13|to|14| FAITH CHAPEL MINISTRIES OF THE PENTECOSTAL ASSEMBLIES OF THE WORLD ## REPORT OF THE TRUSTEES for the Year Ended 31 March 2022 The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 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 ## Objectives and aims The objective and principal activity of the charity is to promote the advancement of the Christian religion through churches established in the United Kingdom and elsewhere, in accordance with the Articles of Faith contained in the Charity's constitution. ## STRUCTURE, GOVERNANCE AND MANAGEMENT ## Governing document The charity is controlled by its foundation constitution as a Charitable Incorporated Organisation (CIO), as defined by the Charitable Incorporated Organisations (General) Regulations 2012 of The Charities Act 2011. The charity is not registered with Companies House. ## Organisational structure Faith Chapel Ministries of the Pentecostal Assemblies of the World was registered as a Charitable Incorporated Organisation, (CIO), with the Charities Commission on 4th October 2016. This CIO was formed to take over the operations, assets and liabilities of the unincorporated Charitable Trust, Faith Chapel Pentecostal Assemblies of the World (Apostolic UK). A seven-year transitional period was set to effect a complete take over. ## REFERENCE AND ADMINISTRATIVE DETAILS ## Registered Company number 1169477 (England and Wales) Registered Charity number ## Registered office 198 Bellenden Road Peckham London SE15 4BW ## Trustees Rev. L G Thomas Rev. A Y Asamoah L Chambers J Pitt Ms M Oteng ## Independent Examiner W M Mieres FCCA 12 Graham Road Mitcham Surrey CR4 2HA Approved by order of the board of trustees on 1 October 2022 and signed on its behalf by: Page 1 FAITH CFIAPEL MINISTRIES OF THE PENTEC05TAL ASSEMBLIES OF THE WORLD REPORT OF THE TRIISTEES for the Ytar Ended 31 Marrh 2022 Rev. L G Thonw- T￿￿le¢ Pa8e 2 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF FArrH CHAPEL IIL¥ISTRIES OF THE PEI¥TECOSTAL ASSEMBLIES OF THE WORLD IndepeDd¢nt ex•n￿Der'S re￿rt io ihe trnstets of F*lth Ch*pd MlThl#rk5 of tht Peulecos￿ AsSe￿bIle5 of the World ('Ihe C•thpaTrv') I rewrt ¢u th¢ iharity trNs*es on my ex4mination of the of the Company f4)r the y￿r er¥Jed 31 Nlarcb 2022. ResponsiThUitle$ And b*$ts Of reptsrt A5 the cliarity's ITh￿1¢¢5 of th¢ Cotnpw lartd also its for pu[wS￿ of compw 18w) you are responsible for th¢ pr¢paratioti of the acco￿ts in a¢¢ordaTK¢ with th¢ r¢qUiT￿ts of th¢ Conwies A¢¢ 21x16 {Ihc 2006 Acl'l. Having satisfi¢d mysclf th¢ a￿DUlts of the ctxhpa￿ art not ¥¢qui￿41 to bc a￿111￿1 urMJcr Part 16 of the 2006 Aci and 8r¢ ¢ll￿ble for independen¢ examin￿10￿ I repjrt in rwe¢t of my cxamination of your chan"ty'5 accounts a5 Carried out under section 145 of the CharÈties A¢t 2011 {'th¢ 2011 A¢t). In ¢anryit)g out my ¢xaminJtion I have followed th¢ Direciions 8LN'en by the Chan"ry Commission under seciÈon 145151 (b) of the 2011 A¢L IndepethdeDt el#￿1**r.$ st•temeni Since your chan.lys gro&s income exceeded £250.(IXI your examintr be a of & lis*d body. I can confirn] thai l am qualified to undertake the examtNation beca￿ l #m a regiAered of vAll"ch 15 one of the listed bodies. I have completed my examknation. l ¢onfirni that have Come ￿ my auefttiott in co1￿C¢￿0n with the t￿at￿l￿a￿0ll 8ivin8 m¢ caus¢ to believe.. a£countiD8 records were not kept in w of the Compw as by seciion 386 of the 2(￿￿ Act. or the accounts do EK*i accord with those records: or the a¢cwnts do not comply with the 8c¢ounting requirements of wion 396 of the 2(K)6 Act other than any rquirement that the accounts 8Éve 8 tr￿ and fair vkew w&ich is Doi a nlator considered as part of a indepcndenr exarninauon; or the aecounrs have not been wepred in acCOTdat￿ Hoth the med￿S and principles of the Ststement of Rcc4)mmcndcd Practice for accounting re[￿ing by charities lapplicablr to ctthtiiir5 prrparing th¢¥r accouttts ID accorda￿¢ with the Fill8￿]￿1 Reporting Standefd applicable itt th¢ UK ￿ Rew￿11¢ of Ireland IFRS 50211. I have no concems and bave come acro￿ no othermauus in cOn￿lon with the exami1￿10￿ th vknich attention sl¥)uld be drawn in this reptsrt in order 10 enable a proper wthrs¢wdTng of the a¢¢ounts ￿ be reachcd. W M Micrc5 FCCA 12 GrahaTll Road Mitcham CR4 2HA l Ociober 2022 ## FAITH CHAPEL MINISTRIES OF THE PENTECOSTAL ASSEMBLIES OF THE WORLD STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31 March 2022 |2022
Unrestricted
fund
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
289,559
Investment income
2
28,758
Total
318,317
EXPENDITURE ON
Raising funds
3
78,411
Charitable activities
Cost of generating voluntary income
2,665
Total
81,076
NET INCOME
237,241
RECONCILIATION OF FUNDS
Total funds brought forward
555,916
TOTAL FUNDS CARRIED FORWARD
793,157|2021
Total
funds
£
321,283
38,440| |---|---| ||359,723| ||73,878
1,769| ||75,647| ||284,076
271,840| ||555,916| The notes form part of these financial statements Page 4 ## FAITH CHAPEL MINISTRIES OF THE PENTECOSTAL ASSEMBLIES OF THE WORLD ## BALANCE SHEET ## 31 March 2022 |Notes
FIXED ASSETS
Tangible assets
7
CURRENT ASSETS
Debtors
8
Investments
9
Cash at bank and in hand
CREDITORS
Amounts falling due within one year
10
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
NET ASSETS
FUNDS
11
Unrestricted funds
TOTAL FUNDS|2022
Unrestricted
fund
£
231,410
25
59,295
527,133
586,453
(24,706)
561,747
793,157
793,157
793,157
793,157|2021
Total
funds
£
233,548
25
-
347,374
347,399
(25,031)
322,368
555,916
555,916
555,916
555,916| |---|---|---| The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022. The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006. ## The trustees acknowledge their responsibilities for - (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and - (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. The notes form part of these financial statements continued... Page 5 FAITH CHAPEL MINISTRIES OFTHE PENTECOSTAL ASSEMBLIES OF THE WORLD BALANCE SHEET- eotttlllued 31 March 2022 These finalleial slatements hai'e been pre￿red in accordaoce with the pmvisiow applicable to ¢￿￿Tit¢b￿ ¢otw*nies subjeci tsi rhe snllll companies regmK. The fir￿ttI&l state]nettts Ibtre approved by ¢b¢ Bc•rd of Tnwees and authOris￿ for issu¢ on l O¢iob¢r 2022 a￿1 were signed on its behalf by. L G Thomas. Trth8tee L Ch3rnbers- Trnstee Page 6 FAITH CHAPEL MINISTRIES OF THE PENTECOSTAL ASSEMBLIES OF THE WORLD NOTES TO THE FINANCIAL STATEMENTS for the Year Ended 31 March 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. ## 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 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. ## Tangible fixed assets Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Freehold property - not provided Multimedia and music equipment - 25% on reducing balance Fixtures, fittings and equipment - 25% on reducing balance Motor vehicles - 25% on reducing balance ## Taxation The charity is exempt from corporation tax on its charitable activities. ## 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. continued... Page 7 FAITH CHAPEL MINISTRIES OF THE PENTECOSTAL ASSEMBLIES OF THE WORLD NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2022 ## 2. INVESTMENT INCOME |2.
INVESTMENT INCOME||| |---|---|---| |Rents received
Loan interest
3.
RAISING FUNDS
Raising donations and legacies
Support costs|2022
£
28,758
-
28,758
2022
£
78,411|2021
£
32,729
5,711| |||38,440| |||2021
£
73,878| 4. NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): ||2022|2021| |---|---|---| ||£|£| |Depreciation - owned assets|3,187|2,124| ## 5. TRUSTEES' REMUNERATION AND BENEFITS There were no trustees' remuneration or other benefits for the year ended 31 March 2022 nor for the year ended 31 March 2021. ## Trustees' expenses There were no trustees' expenses paid for the year ended 31 March 2022 nor for the year ended 31 March 2021. ## 6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES ||Unrestricted| |---|---| ||fund| ||£| |INCOME AND ENDOWMENTS FROM|| |Donations and legacies|321,283| |Investment income|38,440| |Total|359,723| |EXPENDITURE ON|| |Raising funds|73,878| |Charitable activities|| |Cost of generating voluntary income|1,769| |Total|75,647| |NET INCOME|284,076| continued... Page 8 FAITH CHAPEL MINISTRIES OF THE PENTECOSTAL ASSEMBLIES OF THE WORLD NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2022 ## 6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued |RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD
7.
TANGIBLE FIXED ASSETS
COST
At 1 April 2021
Additions
At 31 March 2022
DEPRECIATION
At 1 April 2021
Charge for year
At 31 March 2022
NET BOOK VALUE
At 31 March 2022
At 31 March 2021
COST
At 1 April 2021
Additions
At 31 March 2022
DEPRECIATION
At 1 April 2021
Charge for year
At 31 March 2022
NET BOOK VALUE
At 31 March 2022
At 31 March 2021|Unrestricted
fund
£
271,840
555,916
Fixtures,
Multimedia
fittings
Freehold
and music
and
property
equipment
equipment
£
£
£
220,798
9,209
5,303
-
713
336
220,798
9,922
5,639
-
5,097
1,578
-
1,028
931
-
6,125
2,509
220,798
3,797
3,130
220,798
4,112
3,725
Motor
Computer
vehicles
equipment
Totals
£
£
£
1
6,426
241,737
-
-
1,049
1
6,426
242,786
-
1,514
8,189
-
1,228
3,187
-
2,742
11,376
1
3,684
231,410
1
4,912
233,548| |---|---| continued... Page 9 FAITH CHAPEL MINISTRIES OF THE PENTECOSTAL ASSEMBLIES OF THE WORLD NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2022 |8.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Other debtors
9.
CURRENT ASSET INVESTMENTS
Pentecostal Credit Union deposits
10.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Faith Chapel Pentecostal Assemblies of the World
Accrued expenses
11.
MOVEMENT IN FUNDS
At 1.4.21
£
Unrestricted funds
General fund
555,916
TOTAL FUNDS
555,916
Net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
318,317
TOTAL FUNDS
318,317||| |---|---|---| |||| continued... Page 10 FAITH CHAPEL ML)ISTRIES OF THE PEf*TECOSTAL A￿sE￿IBLIEs OF THE WORLD NOTES TO THE FINAPICIAL STATEMENfs- eontinutd ror the Year Euded 31 Marrh 2022 MOVEMENT IN FUNDS- COJDpAr8tiv¢5 f•r movement fund5 Nd movement iv funds Ai 31.3.21 At 1.4.20 Unrestricted funds General fund 271.840 284.076 555,916 TOTAL FUNDS 271.840 284.076 555.916 Comparnttve nei tmivement in I￿hthd in the aix)ve are as follow5.. in fiujds Ullre5trlcted fuNd5 GeDeral futKI 359.723 175.647) 284.076 TOTAL FUNDS 359.723 {75.647) 284.076 A cwreni year 12 and prfftor yur l2 cl￿￿￿1￿Cd p)sition is as follows: Net At 31.3.22 Ai 1.4.20 in UDrutricttd General fi￿d 271.840 521J17 793.157 TOTAL FUNIY3 271.840 521.317 793,157 A current year 12 llK)nths and prior year 12 months combuKd nct n￿We￿￿t ill fiumls. illcludcd ia the above tre as folknv5." R¢sourt¢s Movetne UDre51ricied funds General fimd 678.040 {156,723) 521,317 TOTAL FUNDS 678.(HO {156.723) 521.317 Page 11 contmued... FAJTH CHAPF.I, MIiNISTRILS DF THE PETh"TEcosfAL A&sE￿IBL1Es OF THE WORLD NOTES TO THE FINANCIAI. STATEMEYfS- c(•DtiRlled for the Year Ended.11 M8rch 21122 12. RELATED PARTY DISCLOSURES Therc were no related pany tTarsactsoLs the ycgr eJ#led 31 March 2022. Page 12 FAITH CHAPEL MIPIISTRILS OF THE PENTECOSTAL ASSEMBLIES OF THE WORLD DETAILED ST ATEMENf OF FtNANCIAL Acnvr for the Year Ended 31 ￿l￿reh 21b22 2022 2021 INCOME AYD ENDOWMENTS Gifis Grants 117.796 201.763 62.133 259.150 289.559 321.283 InYestm¢nt infome Rents rcceivcd Loan inierest 28,758 32,729 5,711 28,758 38.440 Total Inconthig re50urcts 318Jl7 359,723 EXPE￿1 truRE ChArlt*bl¢ a¢tlvlt5es Fwicijons and events Grants io individua 1.383 1282 1,769 2.665 1.769 Support costs M￿Tragement Raies and water Insurance Light and heal Telephone and iTJtcrn P05tagc and 5tatioTrery Computer expetLSe5 Building repairs aThd [rAiDtena￿e Decorations Equipment m8intrn4nLr Cleattin8 Security mot￿ vehiclc ex[￿￿Se5 Coach hite Subs¢rtptio￿ and Iicer)ces Books 2nd perithli¢ats S¢mi[￿s and ¢ottferertts BoOkke￿IDg smices Filing fees Suajdry exp¢nses Training Reverends stipetml Carried fonvard 134 296 4.750 3,386 1.059 2.190 1.147 4.522 61 751 2.813 716 763 438 1,229 3.947 600 4.800 3.008 711 88) 964 193 750 250 1.469 259 274 750 250 42.772 68.358 36,0(K) 64,906 This page TK)t of the financial Pagc 13 FAITH CHAPEL Mif*lSTRtES OF THE PE.NTECOSTAL ASSEMBLIES OF THE WORLD DETAILED STATEMEwf OF FINANCIAL A￿1 for the Ye*r Ended 31 March 2022 2022 2021 M*Dagemfflt Brought foThvard Or8atll5t's fees 68.358 5,200 (A.906 5,200 73,558 70.106 Flnance Cwd rharges 49 Oiher Dcprcthation of multirnedia and rnu51¢ equLPtrtnt Dcpreciation of fiAtl￿￿. fittxngs awl quip Dq>reciation of co¥W equipiy*iJi 1,028 931 1.228 1.240 514 369 3,187 2.123 Govern*nee costs AccouutaDCy 1.6(K) 81,076 75.647 Net Income 237.241 284.076 This page not fo￿ of the ststhtory finaKial sts*m Page 14