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2020-12-31-accounts

THE REDEEMED PILLAR OF FIRE AND PRAYING MISSION WORLDWIDE CHURCH

Charity Number: 1175794

THE REDEEMED PILLAR OF FIRE AND PRAYING MISSION WORLDWIDE CHURCH

REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2020

SPEARMANS 333 EDGWARE ROAD LONDON NW9 6TD

THE REDEEMED PILLAR OF FIRE AND PRAYING MISSION WORLDWIDE CHURCH

Contents

Page
Legal and administrative information 1
Report of the trustees 2-3
Independent Examiner’s Report 4
Statement of Financial Activities 5
Balance Sheet 6
Notes forming part of the financial statements 7-8

THE REDEEMED PILLAR OF FIRE AND PRAYING MISSION WORLDWIDE CHURCH

Legal and administrative information

Directors

Mr Kelvin Michael Pst Austin Ebhohimhen-Ben Ms Shade Olaloko

Charity offices

57 Kangley Bridge Road Lower Sydenham SE26 5BA

Independent Examiner

Bankers

Lance Kadiri 333 Edgware road London NW9 6TD Barclays Bank 1Churchill Place London E14 5HP

1

THE REDEEMED PILLAR OF FIRE AND PRAYING MISSION WORLDWIDE CHURCH

Report of the Trustees for the year ended 31 December 2020

The trustees present their report along with the financial statements of the company for the year ended 31 December 2020. The financial statements have been prepared in accordance with the accounting policies set out on page 7 and comply with the company’s memorandum and articles of association.

Trustees

The following were the directors for the period under consideration.

Name Appointed Mr Kelvin Michael 2018 Pst Austin Ebhohimhen-Ben 2018 Ms Shade Olaloko 2018

The principal custodian of the charity is the Board of Trustees.

Appointment of trustees is governed by The Memorandum and Articles of Association. The Board of Trustees is authorized to appoint new trustees to fill vacancies arising through resignation or death of an existing trustee.

Investment Powers

The Memorandum and Articles of Association authorizes the trustees to make and hold investments using the general funds of the charity, but no such investments are presently held.

Constitution, objects and policies

To advance the Christian faith, for the benefit of the public in accordance with the statements of the bible which tells us to go and make disciples to every nation. We endeavour to do so by: the provision of a church and worship services; advancing the Christian faith in South East London, and neighboring areas, solely for the benefit of the public, through the holding of prayer meetings, bible study, producing and distributing flyers on the Christian faith to enlighten others about the faith and how to become a part of the Christian community. Contributing to the spiritual and moral education of children, young people and adults; contributing towards a better society for example by promoting social cohesion and sharing love in its truest form; carrying out, as a practical expression of religious beliefs, other activities such as financially providing for others who are not able to fend for themselves or need transport fares to get to worship services

Development, activities and achievements

The trustees consider that the performance of the charity this year has been satisfactory. During the year the charity gained some new beneficiaries and it is expected that the charity’s impact will continue to grow in the future.

The charity would not be able to operate without the continued support of a large number of willing support staff who give their services voluntarily and assist on a freelance basis.

Financial review

The charity’s fundraising activities continue to be successful, thanks mainly to the kind donations of concerned individuals. Office overheads were generally unchanged this year. Funds available are sufficient to permit the charity to continue in operation in the medium term.

Risk Management

The trustees actively review the major risk which the charity faces on a regular basis and believe that maintaining reserves at current levels, combined with an annual review of the controls over key financial systems, will provide sufficient resources in the event of adverse conditions. The trustees have also examined other operational and business risks faced by the Charity and confirm that they have established systems to mitigate the significant risks.

Future Developments

The trustees are confident that the charity will continue to grow in strength in the foreseeable future.

2

THE REDEEMED PILLAR OF FIRE AND PRAYING MISSION WORLDWIDE CHURCH

Report of the trustees for the year ended 31 December 2020 (cont’d)

Reserves policy

It is the policy of the charity to maintain unrestricted funds at a level which equate to approximately 12 months unrestricted expenditure. This provides sufficient funds to cover management and administration and support costs. Unrestricted funds are maintained at least this level throughout the year.

Statement of trustees’ responsibilities

Law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true fair view of the charity’s financial activities during the year and of its financial position at the end of the year. In preparing those financial statements, the trustees are required to:

The trustees are responsible for keeping accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approval

This report was approved by the trustees in November 2021 and signed on their behalf.

A Ebhohimhen-Ben Trustee

3

THE REDEEMED PILLAR OF FIRE AND PRAYING MISSION WORLDWIDE CHURCH

Report of the Independent Examiner to the Trustees On accounts for the year ended 31 December 2020

Respective responsibilities of trustees and examiner

The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 (2) of the Charities Act 2011 and that an independent examination is needed.

It is my responsibility to:

Basis of Independent examiner’s statement

My examination was carried out in accordance with General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity 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 the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently, I do not express an audit opinion on the accounts.

Independent examiner’s statement

In connection with my examination, no matter has come to my attention that:

have not been met; or

LANCE KADIRI

333 Edgware road London NW9 6TD

November 2021

4

THE REDEEMED PILLAR OF FIRE AND PRAYING MISSION WORLDWIDE CHURCH

Statements of Financial Activities For the year ended 31 December 2020

Incoming Resources
Donations
Other Income
Total Incoming resources
Resources Expanded
Rent and service charges
Missions & Ministries Giving
Honourarium
Events Costs
Wages and salaries
Employer’s NI
Minister’s allowance
Telephone and fax
Stationery and printing
Light and heat
Independent Examiner's Fees
Other legal and professional
Instrumentalists
Travel expenses and subsistence
Media
Repairs and maintenance
Information and publication
Sundry expenses
Depreciation
Total resources expended
(Deficit)/Surplus for the year		 Unrestricted
Total
Total
Fund
Funds
Funds
2020
2020
2019
£
£
£
206,230
206,230
66,846
2,892
2,892
32,100
209,122
209,122
98,946
77,686
77,686
66,922
7,301
7,301
1,500
960
960
2,500
4,825
4,825
1,520
27,311
27,311
-
2,442
2,442
-
-
-
12,000
127
127
624
976
976
359
2,000
2,000
1,386
1,500
1,500
1,000
13,208
13,208
-
1,620
1,620
710
41,429
41,429
1,311
3,302
3,302
1,510
12,622
12,622
937
2,565
2,565
-
9,350
9,350
1,438
12,485
12,485
720
221,709
221,709
94,620
(12,587)
(12,587)
4,326

There were no recognized gains or losses for 2020 other than those included in the Statements of Financial Activities.

5

THE REDEEMED PILLAR OF FIRE AND PRAYING MISSION WORLDWIDE CHURCH

Balance Sheet As at 31 December 2020

Note
Fixed Assets
Tangible Assets
2
Current assets
Debtors
3
Cash at bank and in hand
Creditors: amounts falling due within one
year
4
Net current assets
Creditors: amounts falling due after more
than one year
Total assets less current liabilities
Creditors: amounts falling due after more
than one year
Funds
Unrestricted funds
5
Accumulated unrestricted funds		 2020
£
£
48,723
15,348
3,620
18,968
(16,384)
2,584
(50,000)
1,307
(50,000)
1,307
1,307		 2019
£
5,000
6,603
11,603
(589)
£
2,880
11,014
-
13,894
-
13,894
13,894

Approved by the trustees in November 2021 and signed on their behalf.

A Ebhohimhen-Ben Trustee

6

THE REDEEMED PILLAR OF FIRE AND PRAYING MISSION WORLDWIDE CHURCH

Notes to the accounts for the year ended 31 December 2020

1. Accounting policies

1.1 Basis of preparation of accounts

These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. 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 (FRS 102) issued on 16 July 2014 (as updated through Update Bulletin 1 published on 2 February 2016), the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Practice as it applies from 1 January 2015.

The particular accounting policies adopted are set out below.

1.2 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Investment income, capital gains and losses are allocated to the appropriate fund.

1.3 Incoming resources

All incoming resources are included in the Statement of Financial Activities (SOFA) when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.

1.4 Resources expended

All expenditure is accounted for on an accruals basis and has been included under expense categories that aggregate all costs for allocation to activities. Where costs cannot be directly attributed to particular activities they have been allocated on a basis consistent with the use of the resources.

1.5 Tangible fixed assets for use by the charity and depreciation .

Tangible fixed assets for use by the charity are stated at cost less depreciation.

Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Equipment and furniture 20% reducing balance method

7

THE REDEEMED PILLAR OF FIRE AND PRAYING MISSION WORLDWIDE CHURCH

Notes to the accounts for the year ended 31 December 2020

2.
Tangible fixed assets for use by the Charity
Cost
At 1 January 2020
Additions
At 31 December 2020
Depreciation
At 1 January 2020
Charge for year
At 31 December 2020
Net book value
At 31 December 2020
At 31 December 2019
3.
Debtors and prepayments
Other debtors
4.
Creditors and accruals
Other creditors
Other taxes and social security costs		 Furniture
&
Equipment
£
5,625
58,328
63,953
2,745
12,485
15,230
48,723
2,880
2020
2019
£
£
15,348
5,000
15,348
5,000
2020
2019
£
£
8,089
589
8,295
16,384
589
5
.
Statement of funds
Opening
Incoming
Balance
resources
£
£
Unrestricted funds
13,894
209,122		 Resources
Closing
Expended
Balance
£
£
(221,709)
1,307

8