HOUSEHOLD OF FAITH MINISTRY
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31[ST] MARCH 2024 CHARITY NUMBER: 1172825
HOUSEHOLD OF FAITH MINISTRY Contents of the Financial Statements for the period 01 April 2024 to 31 March 2024
Content Page Content 1 Legal and Administrative details 2 Trustee’s Report 3 Independent Examiner’s Report 5 Statement of Financial Activities 6 Balance Sheet 7 Notes on the Financial Statements 8
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HOUSEHOLD OF FAITH MINISTRY LEGAL AND ADMINISTRATIVE DETAILS YEAR ENDED 31[ST] MARCH 2024
ADDRESS FOR CORRESPONDENCE
92 Riverdale Road Erith DA8 1PX
REGISTERED CHARITY NUMBER
1172825
GOVERNING DOCUMENT
Declaration of Trust dated 02 May 2017
TRUSTEES
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Philomena Ikonagbon
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Yvonne Anaro-Wood
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Carolyn Boodram
PRINCIPAL BANKERS
Barclays Bank PLC 6 Market Place Bexleyheath DA6 7DY
INDEPENDENT EXAMINER
Pathway Accountancy Ltd Accountants 72 McLeod road Abbey wood London SE2 0BS
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HOUSEHOLD OF FAITH MINISTRY TRUSTEE’S REPORT FOR THE YEAR ENDED 31[ST] MARCH 2024
The trustees are pleased to present their report for the year ended 31[st] March 2024 for the charity, HOUSEHOLD OF FAITH MINISTRY with Charity Number. 1172825
The Trustees of the charity are:
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Philomena Ikonagbon
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Yvonne Anaro-Wood
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Carolyn Boodram
The principal address of the charity is: 92 Riverdale Road, Erith DA8 1PX
STRUCTURE, GOVERNANCE AND MANAGEMENT
The Charity governing document is a declaration of trust that was adopted on 02 May 2017. A board on which the trustees are represented governs the Charity. It meets regularly to review, plan activities and monitor the financial position.
OBJECTIVES AND ACTIVITIES
The Objects of the organisation are to advance the Christian Religion (in accordance with the Statement of Faith) throughout the world as the trustees may see fit from time to time. The trustees confirm that they have had due regard to the guidance issued by the Charity Commission on public benefit before deciding what activities the charity should undertake.
ACHIEVEMENTS AND PERFORMANCE
The Organisation held successful services through the year in which individuals were equipped and educated on the principles and doctrines of the Christian faith. The church held several conferences to assist the development of the people in the community. This has resulted in an increase of the membership of the congregation over the financial year. The organisation operates at 92 Riverdale Road, Erith DA8 1PX in the United Kingdom and broadcast to the international community via zoom.
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HOUSEHOLD OF FAITH MINISTRY TRUSTEE’S REPORT FOR THE YEAR ENDED 31[ST] MARCH 2024
FINANCIAL REVIEW
The income of the charity is £97,727. The costs have been managed over this period. The charity is in good position to develop itself in the community.
RESERVE POLICY
It is the policy of the Charity to maintain unrestricted funds, which are the reserves of the charity at about 3 months of unrestricted expenditure. This provides adequate funds to cover any emergency expenditure that may arise from time to time. The charity will seek to maintain this level throughout the year.
RISK MANAGEMENT
The charity has assessed all the major risks to which the charity is exposed to, particularly those related to operations and finances of the charity and are satisfied that systems are in place to mitigate exposure to major risks.
TRUSTEE RESPONSIBILITIES
Under the Charities Act 1993, the trustees are required to prepare a statement of accounts for each accounting year, which gives a true and fair view of the state of the church. They are required to:
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Select suitable accounting policies and apply them consistently.
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Make judgements and estimates that are reasonable and prudent.
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State whether the applicable accounting standards have been followed.
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Prepare financial statements on an ongoing basis.
They are responsible for keeping proper records, which disclose with reasonable accuracy the
finances of the church at any time and to ensure that such accounts comply with the Charities Act 1993. They also have a responsibility to safeguard the assets of the church and to take reasonable steps to detect fraud or other irregularities.
Approved by the Trustees on the 28 January 2025
~~………………………………………………..~~ Pastor Philomena Ikonagbon (Wed, 29th Signed on their behalf by: Jan 2025 20:56:02 GMT) Philomena Ikonagbon (Trustee)
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Independent Examiner’s Report to the Trustees of HOUSEHOLD OF FAITH MINISTRY
I report on the accounts of the church for the year ended 31st March 2024 set out on pages 6 to 8, which have been prepared based on the accounting policies shown on page 8.
Respective responsibilities of trustees and examiner
The trustees of the church are responsible for the preparation of accounts: they consider that the audit requirement under section 144(2) of the Charities Act 2011 (the 2011 Act), does not apply and that an independent examination is required.
It is my responsibility to:
Examine the accounts under section 145 of the 2011 Act to follow the procedures laid down in the general directions given by the Charity Commission (under section 145(5)(b) of the 2011 Act); and to state whether particular matters have come to my attention.
Basis of Independent examiner’s report
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 any 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 statements below.
Independent examiner’s statement
In the course of my examination, no matter has come to my attention;
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which gives me reasonable cause to believe that, in any material aspect, the requirements to keep accounting records in accordance with Section 130 of the 2011 Act; and to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the 2011 Act have not been met; or
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To which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
PathwayAccountants 28/01/25
~~………………………………………….~~
Roy Bello (MBA, ACA, FFA) Roy Bello (Tue, 28th Jan 2025 17:55:23GMT)
Pathway Accountancy Ltd Accountants 72 McLeod road Abbey wood London
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HOUSEHOLD OF FAITH MINISTRY
Statement of Financial Activities for the year ended 31st March 2024
| Note Receipts Tithes, General offering and donations 1 Payments Church activities 2 Governance cost 3 Excess of Receipts over payments Cash Fund last Year end Accumumulated Cash fund this year end |
Unrestricted funds Total funds Total funds 2024 2024 2023 £ £ £ 97,727 97,727 75,290 97,727 97,727 75,290 43,681 43,681 32,720 924 924 780 44,605 44,605 33,500 53,122 53,122 41,790 132,399 132,399 90,609 185,521 185,521 132,399 |
|---|---|
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HOUSEHOLD OF FAITH MINISTRY
Statement of Assets and Liabilities as at 31st March 2024
| Note Cash Funds Bank & cash balance Net Assets Reconciliation of funds Unrestricted funds Bfwd For the year |
2024 2024 2023 Unrestricted funds Total funds Total funds £ £ £ 185,521 185,521 132,399 185,521 185,521 132,399 132,399 132,399 90,609 53,122 53,122 41,790 185,521 185,521 132,399 |
|---|---|
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HOUSEHOLD OF FAITH MINISTRY
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2024
1. ACCOUNTING POLICIES
Accounting Convention
The financial statements are prepared under the historic cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015), the Charities Act 2011 and the requirements of the statement of Recommended Practice, Accounting and Reporting by Charities (issued July 2014)
Incoming Resources
Incoming resources are recognised in the statement of financial activities when entitlement has passed to the charity and the amounts are certain and measurable. Any incoming resources received that relate exclusively to future periods are deferred on the Balance Sheet.
Resources Expended
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 specific headings, they have been allocated to activities on a basis consistent with the use of resources
Grants
Grants offered subject to conditions which have not been met at the year-end date are noted as commitment but not accrued as expenditure.
Support Costs
Support costs comprise those costs that are necessary to deliver an activity but in themselves do not produce or deliver an activity. Support costs are allocated to activities based on the direct salary costs of the activity compared with total activity salary costs
Governance costs
Governance costs are those costs incurred to meet statutory and constitutional requirements.
Fund Accounting
Restricted funds represent income received that is subject to restrictions on use as determined by the donor which are narrower than the general objects. Designated funds represent funds set aside by the Trustees for specific purposes. General funds are those funds made available for charity’s general objects.
Taxation
The charity is exempt from tax on its charitable activities
Tangible Fixed Assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Fixed assets over £500 are capitalised and depreciated accordingly
Equipment -20% on cost Fixtures and fittings -10% on cost Motor Vehicles -20% on cost
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HOUSEHOLD OF FAITH MINISTRY Notes to the Accounts for the year ended 31st March 2024
| 1. Receipts Tithes, offerings, Grant Gift aid 2. Payments Rent Ministry expenses - Direct Service Cost Charitable donations Cleaning Honorarium Printing, Postage and Stationery Transport and travel Purchase Professional fee Subscription General Administrative expenses Insurance 3. Governance cost Accountancy Fees |
Unrestricetd funds Total funds Total funds 2024 2024 2023 £ £ £ 97,727 97,727 75,290 - - - 97,727 97,727 75,290 9,183 9,183 7,632 18,743 18,743 17,158 1,390 1,390 610 - - 26 8,087 8,087 4,160 767 767 525 242 242 280 3,573 3,573 1,773 464 464 204 156 156 99 814 814 - 262 262 253 43,681 43,681 32,720 924 924 780 924 924 780 |
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Issuer
Issuer Pathway Accountancy Ltd Document generated Tue, 28th Jan 2025 17:46:26 GMT Document fingerprint f1491f3503f6443ff5c62598833e0718
Parties involved with this document
Document processed
Party + Fingerprint
Tue, 28th Jan 2025 17:55:23 GMT Wed, 29th Jan 2025 20:56:02 GMT
Roy Bello - Signer (c08331f028708f88f09ad60e218686c3) Pastor Philomena Ikonagbon - Signer (24f3c1dd7e91b970a5b8490398f217b4)
Audit history log
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Wed, 29th Jan 2025 20:56:02 GMT Wed, 29th Jan 2025 20:56:02 GMT Wed, 29th Jan 2025 20:56:02 GMT Wed, 29th Jan 2025 20:51:32 GMT Wed, 29th Jan 2025 20:50:52 GMT Wed, 29th Jan 2025 1:07:00 GMT Wed, 29th Jan 2025 1:06:09 GMT
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Pastor Philomena Ikonagbon viewed the envelope (146.75.174.86) This envelope has been signed by all parties (146.75.174.86) Pastor Philomena Ikonagbon signed the envelope (146.75.174.86) Pastor Philomena Ikonagbon viewed the envelope (104.28.40.132) Pastor Philomena Ikonagbon opened the document email. (87.248.116.78) Pastor Philomena Ikonagbon viewed the envelope (104.28.86.52) Pastor Philomena Ikonagbon opened the document email. (87.248.114.143) Roy Bello viewed the envelope (87.238.218.178) Roy Bello viewed the envelope (87.238.218.178) Document emailed to householdoffaithministry@yahoo.com (18.130.233.107) Roy Bello viewed the envelope (87.238.218.178) Sent the envelope to Pastor Philomena Ikonagbon (householdoffaithministry@yahoo.com) for signing (87.238.218.178) Roy Bello signed the envelope (87.238.218.178) Roy Bello viewed the envelope (87.238.218.178) Roy Bello opened the document email. (172.166.104.241) Document emailed to info@pathwayaccountants.co.uk (13.40.63.190) Sent the envelope to Roy Bello (info@pathwayaccountants.co.uk) for signing (87.238.218.178)
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Document generated with fingerprint f1491f3503f6443ff5c62598833e0718
(87.238.218.178) Tue, 28th Jan 2025 17:46:27 GMT Document generated with fingerprint ce4af232614710a60d02a1d1d5885ac3 (87.238.218.178) Tue, 28th Jan 2025 17:46:26 GMT Envelope generated by Roy Bello (87.238.218.178)