RESTORATION POWER CHAPEL
TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023
Charity Number 1174606
SHIPKOLYE FINANCIAL SERVICES ACCOUNTANT 89 LANGHAM ROAD LONDON N15 3LR
RESTORATION POWER CHAPEL
YEAR ENDED 30 JUNE 2023
CONTENTS
| Page | |
|---|---|
| Legal and Administrative Information | 3 |
| Report for Trustees | 4 |
| Independent Examiner’s Report to the Trustees | 6 |
| Statement of Financial Activities | 7 |
| Balance Sheet | 8 |
| Notes to the Financial Statements | 9-13 |
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RESTORATION POWER CHAPEL
YEAR ENDED 30 JUNE 2023
Status The organisation is a registered charity and a company limited by guarantee Governing Document The organisation is governed by memorandum of association; The organisation was registered with the Charity Commission on 12 September 2017 Charity Registration Number 1174606 Company Limited By Guarantee Number Registered Office 3[rd] Floor, The 21 Building 21 PINNER ROAD, HARROW HA1 4ES Trustees REV Issac Beisel Rockson Longmatey George Atta-Adutwum Officers REV ISSAC BEISEL , Chair Bankers Barclays bank
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RESTORATION POWER CHAPEL REPORT FOR THE TRUSTEES YEAR ENDED 30 JUNE 2023
The trustees present their Annual Report along with the Financial Statements for the year ended 30 JUNE 2023
Structure, governance and management
Trustee Board – membership and appointment
No Further appointment this year as it is a transitional period.
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RESTORATION POWER CHAPEL REPORT FOR THE TRUSTEES YEAR ENDED 30 JUNE 2023
our organisation aims to the advancement of education for the public. in particular, we provide training to young people in musical instruments such as guitar, piano, drum -kit and African drums .We also deliver clubs sessions during weekends.
The organisation also promote the advancement of the Christian faith by teaching the word of God to bring unity, harmony, and love among families. We are having new premises to carry on activities on weekends.
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RESTORATION POWER CHAPEL INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF YEAR ENDED 30 JUNE 2023
I report on the accounts of the company for the year ended 30 June 2023 which are set out on pages 9 to 15.
RESPECTIVE RESPONSIBILITIES OF THE TRUSTEES AND EXAMINER
The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
Having satisfied myself that the company is not subject to audit under company law and is eligible for independent examination, 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 company and a 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 statement below
INDEPENDENT EXAMINER’S STATEMENT
In connection with my examination, no matter has come to my attention:
(1) which gives me reasonable cause to believe that in any material respect the requirements:
• to keep accounting records in accordance with section 386 of the Companies Act 2006; and
• to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities have not been met; or
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
AYNA Accounting and Financial Services Ltd 89 Langham Road, London N15 3LR
Dated: 14/05/2024
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RESTORATION POWER CHAPEL STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING THE INCOME AND EXPENDITURE ACCOUNT) YEAR ENDED 30 JUNE 2023
| Unrestricted | Restricted | Total Funds | Total Funds | ||
|---|---|---|---|---|---|
| Funds | Funds | 2023 | 2022 | ||
| Note | £ | £ | £ | £ | |
| INCOME FROM | |||||
| Donations & legacies | |||||
| Income from charitable | |||||
| activities | 2 | 145,672 | 145,672 | 142,165 | |
| Investment income | 3 | 0 | 0 | 0 | |
| --------------------------------------- | --------------------------------- | --------------------------------------- | --------------------------------------- | ||
| TOTAL INCOME | 145,672 | 145,672 | 142,165 | ||
| --------------------------------------- | --------------------------------- | --------------------------------------- | --------------------------------------- | ||
| EXPENDITURE ON | |||||
| Charitable activities | 4 | (129,125) | (129,125) | (124,382) | |
| --------------------------------------- | ----------------------------------- | --------------------------------------- | --------------------------------------- | ||
| TOTAL EXPENDITURE | (129,125) | (129,125) | (124,382) | ||
| --------------------------------------- | --------------------------------- | --------------------------------------- | --------------------------------------- | ||
| NET INCOME | |||||
| /EXPENDITURE FOR THE | |||||
| YEAR | 16,547 | 16,547 | 17,783 | ||
| RECONCILIATION OF | |||||
| FUNDS | |||||
| Total funds brought forward | 18,836 | 18,836 | 1,053 | ||
| --------------------------------------- | ----------------------------------- | --------------------------------------- | --------------------------------------- | ||
| TOTAL FUNDS CARRIED | |||||
| FORWARD | 35,383 | 35,383 | 18,836 | ||
| ======================================= | ================================= | ======================================= | ======================================= |
The Statement of financial activities includes all gains and losses in the year. All of the above amounts relate to continuing activities.
The notes on pages 13 to 12 form part of these financial statements.
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RESTORATION POWER CHAPEL BALANCE SHEET Company No
| YEAR | ENDED | 30 JUNE | 2023 |
Charity | No1149685 |
|---|---|---|---|---|---|
| 2023 | 2022 | ||||
| Note | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Fixed assets | 00000 | 000 | |||
| CURRENT ASSETS | |||||
| Debtors | 6 | 36,358 | 000 | ||
| Cash at Bank and in Hand | 79 | 19,350 | |||
| --------------------------------- | --------------------------------- | ||||
| 36,437 | 19,350 | ||||
| CREDITORS: Amounts falling | |||||
| due within one year | 7 | (1,054) | (514) | ||
| --------------------------------- | --------------------------------- | ||||
| NET CURRENT ASSETS | 35,383 | 18,836 | |||
| ---------------------------- | ---------------------------- | ||||
| NET ASSETS/(LIABILITIES) | 8 | 38,383 | 18,836 | ||
| ============================ | ============================ | ||||
| CHARITY FUNDS | |||||
| Unrestricted Funds | |||||
| General | 10 | 35,383 | 18,836 | ||
| Designated | 11 | 00 | 000 | ||
| ---------------------------- | ---------------------------- | ||||
| TOTAL FUNDS | 35,383 | 18,836 | |||
| ============================ | ============================ |
For the year ended 30 JUNE 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Trustees' responsibilities:
The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime and with the Financial Reporting Standard for Smaller Entities (effective January 2015).
These financial statements were approved by the trustees on 14[th] May 2024 and signed on its behalf by:
REV ISSAC BEISEL , Chair/Director
The notes on pages 13 to 12 form part of these financial statements.
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RESTORATION POWER CHAPEL NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 JUNE 2023
1. ACCOUNTING POLICIES:
Basis of accounting
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 for Smaller Entities published on 16 July 2014, the Financial Reporting Standard for Smaller Entities (effective January 2015)
Income
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
E xpenditure
Expenditure is recognised once there is a legal or constructive obligation to make payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accruals basis
Depreciation and Dimunition of Assets
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases: Office equipment (except for IT equipment) 33.33 % per annum on cost .
From 2003-2004, IT equipment is fully written off in year of purchase.
General funds
General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of Camden Mediation and which have not been designated for other purposes.
Designated funds
Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
Restricted funds
Restricted funds are grants, donations and other incoming resources which are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is charged to the fund.
Governance Costs
Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include costs linked to the strategic management of the charity.
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RESTORATION POWER CHAPEL
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 JUNE 2023
1. ACCOUNTING POLICIES (continued)
Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discounts offered. Prepayments are valued at the amount prepaid after taking account of any trade discounts due
Gifts In Kind
The charity receives the benefit of work carried out by volunteers which is not costed
2 . INCOME FROM CHARITABLE ACTIVITIES:
| Unrestricted | Restricted | Total Funds | Total Funds | |
|---|---|---|---|---|
| Funds | Funds | 2023 | 2022 | |
| £ | £ | £ | £ | |
| Income | 74,672 | 74,672 | 74,672 | |
| Other Income | 71,000 | 71,000 | 67,493 | |
| -------------------------------- | -------------------------------- | -------------------------------- | -------------------------------- | |
| 145,672 | 145,672 | 142,165 | ||
| ================================= | ================================= | ================================= | ================================= | |
| INVESTMENT INCOME: | ||||
| Unrestricted | Total Funds | Total Funds | ||
| Funds | 2023 | 2023 | ||
| £ | £ | £ | ||
| Bank Interest Received | 000 | 000 | 000 | |
| -------------------------------- | -------------------------------- | -------------------------------- | ||
| 000 | 000 | 000 | ||
| ================================= | ================================= | ================================= | ||
OSTS OF CHARITABLE |
ACTIVITIES: | |||
| Total Funds | Total Funds | |||
| 2023 | 2022 | |||
| £ | £ | |||
| Charitable Activity | 123,213 | 119,402 | ||
| Governance | 5,912 | 4,980 | ||
| -------------------------------- | -------------------------------- | |||
| 129,125 | 124,382 | |||
| ================================= | ================================= |
3. INVESTMENT INCOME:
. COSTS OF CHARITABLE ACTIVITIES:
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RESTORATION POWER CHAPEL NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 JUNE 2023
4a . CHARITABLE ACTIVITY:
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Salaries | 000 | 000 |
| Recruitment | 000 | 0000 |
| Staff Training and Supervision | 000 | 0000 |
| Fees for Mediating and Training | 000 | 0000 |
| Bank Fees | 249 | 49 |
| Advertising and Marketing | 000 | 000 |
| Volunteer Expenses | 409 | 301 |
| Staff Travel | 5,677 | 5,077 |
| Rent and Rates | 36,360 | 36,360 |
| Utilities | 11,107 | 9,107 |
| Cleaning | 1,946 | 1,946 |
| Professional Exp | 64,613 | 63,613 |
| Building Repairs and Maintenance | 1,389 | 1,389 |
| Printing, Publicity & Stationery | 000 | 000 |
| Postage | 000 | 108 |
| Telephone and Fax | 139 | 139 |
| Equipment Maintenance & Repair | 000 | 000 |
| Computer Expenses | 000 | 000 |
| Premises Costs and Room Hire | 000 | 000 |
| Insurance | 1,324 | 1,313 |
| Subscriptions & Accreditation | 000 | 000 |
| Sundry | 000 | 000 |
| -------------------------------- | -------------------------------- | |
| 123,213 | 119,402 | |
| ================================= | ================================= | |
| 4b. GOVERNANCE: | ||
| Total Funds | Total Funds | |
| 2023 | 2022 | |
| £ | £ | |
| Independent Examination | 250 | 250 |
| Board Expenses | 5,662 | 4,730 |
| Companies House Filing Fee | 00 | 00 |
| Bank Charges | 000 | 00 |
| -------------------------------- | -------------------------------- | |
| 5,912 | 4,980 | |
| ================================= | ================================= |
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RESTORATION POWER CHAPEL NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 JUNE 2023
5. STAFF COSTS AND TRUSTEES RENUMERATION:
Staff costs during the year was
| costs during the year was | ||
|---|---|---|
| 2023 | 2022 | |
| £ | £ | |
| Wages and Salaries | 000 | 000 |
| Social Security Costs | 000 | 000 |
| -------------------------------- | -------------------------------- | |
| 000 | 000 | |
| ================================= | ================================= | |
| embers of staff were in receipt of emoluments | of more than £60,000 during the year. | |
| average number of full time employees was 2.5 (2022 –0) | ||
| ustee received any remuneration in respect of their services as a trustee during either the | ||
| nt or comparative year. | ||
| EBTORS: | ||
| 2023 | 2022 | |
| £ | £ | |
| Trade Debtors | 000 | 000 |
| Prepayments | 000 | |
| --------------------------------- | --------------------------------- | |
| 000 | 000 | |
| ================================= | ================================= | |
| CREDITORS: Amounts falling due within one year | ||
| 2023 | 2022 | |
| £ | £ | |
| HMRC VAT | 000 | 000 |
| PAYE & NI | 000 | 000 |
| Deferred Income | 000 | 0000 |
| Other Creditors | 1,054 | 514 |
| --------------------------------- | --------------------------------- | |
| 514 | 514 | |
| ================================= | ================================= |
No members of staff were in receipt of emoluments of more than £60,000 during the year. The average number of full time employees was 2.5 (2022 –0)
No trustee received any remuneration in respect of their services as a trustee during either the current or comparative year.
6 . DEBTORS:
7. CREDITORS: Amounts falling due within one year
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