2023-12-31-accounts - Christ Healing Home

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THE REDEEMED PILLAR OF FIRE AND PRAYING MISSION WORLDWIDE CHURCH

Charity No. 1175794

Company No. 09626733

Trustees' Report and Unaudited Accounts

31 December 2023

THE REDEEMED PILLAR OF FIRE AND PRAYING MISSION WORLDWIDE CHURCH Contents

	Pages
Trustees' Annual Report	2 to 4
Independent Examiner's Report		5
Statement of Financial Activities		6
Summary Income and Expenditure Account		7
Balance Sheet		8
Statement of Cash flows		9
Notes to the Accounts	10 to	17
Detailed Statement of Financial Activities	18	to

Page 1

THE REDEEMED PILLAR OF FIRE AND PRAYING MISSION WORLDWIDE CHURCH Trustees Annual Report

The trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the unaudited financial statements of the charity for the year ended 31 December 2023.

REFERENCE AND ADMINISTRATIVE DETAILS

Company No. 09626733

Charity No. 1175794

Principal Office

9-11 Cottage Green

London SE5 7ST

Registered Office

9-11 Cottage Green London SE5 7ST

Directors and Trustees

The Directors of the charitable company are its Trustees for the purposes of charity law. The following Directors and Trustees served during the year:

A. Ebhohimhen-Ben

K. Michael

F. Olaloko

Accountants

Spearmans 333 Edgware Road

London NW9 6TD

OBJECTIVES AND ACTIVITIES

The purpose of the charity as set out in its governing document: the advancement of the christian religion; relief of hardship for the distressed, aged and sick; relief of poverty and homelessnes. The objects are charitable and operate for the public benefit. In determining how best to pursue these objects the Trustees have given regard to the Charity Commission's guidance on public benefit.

The main activities undertaken in relation to those purposes are: 1. Sunday and mid-week worship services; children's ministries; prayer and ministry training; bible studies and small group meetings. 2. Ministering to the congregation and the local community through family life, relationship and other ministry programmes; 3. Social programmes to provide food, clothes and shelter for the needy and care for the sick 4. Educate and equip the congregation and other churchesin the practice of ministry through GSC based conferences

Page 2

THE REDEEMED PILLAR OF FIRE AND PRAYING MISSION WORLDWIDE CHURCH

Trustees Annual Report

A larger charity must provide an explanation of its aims, including details of the issues it seeks to tackle and the changes or differences it seeks to make through its activities...

A larger charity must provide an explanation how the achievement of its aims will further its legal purposes... A larger charity must provide an explanation of its strategies for achieving its stated aims and objectives...

A larger charity must provide an explanation of its criteria or measures it uses to assess success in the reporting period...

A larger charity should provide a more detailed explanation of its short-term and long-term aims and objectives...

ACHIEVEMENTS AND PERFORMANCE

A summary of the main achievements of the charity, identifying the difference the charity's work has made to its beneficiaries and society as a whole are as follows: The church is open to both christians and non-christians. The community has been attracted to and enjoyed our services including weekly worship services,monthly destiny changing programmes, new year's eve watch night service and our annual music and cultural nights. The popularity of the month end programmes and the music and performing arts has often seen professional artists and speakers from home and abroad come to minister and impact lives. We continue to provide and maintain buildings for church services at Old Kent Road in Southwark. We minister to the congregation and the local community by emphasising on the virtues and importance of strong families, values of voting and social responsibility, continually advocating self-development and business enterprise through seminars, workshops and practical advice. The church also seeks new followers or adherents. The members in general and the evangelism team regularly go out to preach the gospel in different locations and areas. We aid the local community by providing career counselling, pre and post marital counselling, bereavement counselling, hospital visits, welfare provision, prayer support, men and women's meetings, supplementary school and supporting local charities.

A larger charity must review its charitable activities undertaken, explaining performance achieved against objectives set ...

A larger charity must include an explanation when material fundraising activities are undertaken, details of the performance achieved against fundraising objectives set ...

A larger charity must provide an explanation when material investments are held, details of investment performance achieved against objectives set ...

A larger charity must provide an explanation of any material expenditure occurred to raise income in the future...

A larger charity must provide commentary on those significant positive and negative factors within and outside the charity's control which are relevant to the achievement of its objectives ...

FINANCIAL REVIEW

A review of the charity's financial position at the year ended 31 December 2022 is provided in the annexed accounts

PLANS FOR FUTURE PERIODS

The church would continue to seek new worshippers both in the UK and around the world to advance the christian faith. Also it would continue to support the needy in society. The church will expand it's TV and online broadcast to further propagate the gospel.

A larger charity's report should explain the trustees perspective of the future direction of the charity...

Page 3

THE REDEEMED PILLAR OF FIRE AND PRAYING MISSION WORLDWIDE CHURCH Trustees Annual Report

STRUCTURE, GOVERNANCE AND MANAGEMENT

The charity is controlled by the it's governing document, the constitution adopted on 17 November 2017. There are no restrictions in the governing document on the operation of the charity or on it's investment powers other than those imposed by general charity law. The church is run on a day to day basis by a leadership team that normally includes majority of trustees. The team comprises of professionals from all disciplines including business, finance and legal. New trustees undergo orientation where they are briefed on their legal obligations under charity law, the content of the constitution and the processes on decision making within the organisation. The charity encourages trustees to attend at their discretion appropriate external training events were these will be of use for the undertaking of the role.

The Trustees are 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 Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.

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 102).

Signed on behalf of the board

F. Olaloko Trustee 30 October 2024

Page 4

THE REDEEMED PILLAR OF FIRE AND PRAYING MISSION WORLDWIDE CHURCH Independent Examiners Report

Independent Examiner's Report to the trustees of THE REDEEMED PILLAR OF FIRE AND PRAYING MISSION WORLDWIDE CHURCH

I report to the charity trustees on my examination of the financial statements of THE REDEEMED PILLAR OF FIRE AND PRAYING MISSION WORLDWIDE CHURCH for the year ended 31 December 2023.

Responsibilities and basis of report

As the charity's trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act.

Having satisfied myself that the financial statements of the Charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's financial statements as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

Independent examiner's statement

As the charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of FCCA, which is one of the listed bodies.

I have completed my examination. I can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe:

accounting records were not kept in accordance with section 386 of the 2006 Act ; or
the financial statements do not accord with those records; or
the financial statements do not comply with the accounting requirements under section 396 of the 2006 Act other than any requirement that the financial statements give a 'true and fair' view which is not a matter considered as part of an independent examination; or
the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

Lance Kadiri FCCA Spearmans 333 Edgware Road London

NW9 6TD 30 October 2024

Page 5

THE REDEEMED PILLAR OF FIRE AND PRAYING MISSION WORLDWIDE CHURCH Statement of Financial Activities

for the year ended 31 December 2023

Unrestricted funds 2023 £ 928,120 47,968	Total funds 2023 £ 928,120 47,968	Total funds 2022 £ 466,867 31,747
976,088 188,842 747,313	976,088 188,842 747,313	498,614 150,761 247,468
936,155 -	936,155 -	398,229 -
39,933 -	39,933 -	100,385 -
39,933	39,933	100,385
39,933 119,159	39,933 119,159	100,385 18,774
159,092	159,092	119,159

Page 6

THE REDEEMED PILLAR OF FIRE AND PRAYING MISSION WORLDWIDE CHURCH

Summary Income and Expenditure Account

for the year ended 31 December 2023

Income Gross income for the year Expenditure Interest payable Depreciation and charges for impairment of fixed assets Total expenditure for the year Net income before tax for the year Net income for the year	2023 £ 976,088 976,088 909,211 781 26,163 936,155 39,933 39,933	2022 £ 498,614
		498,614
		375,031 1,031 22,167
		398,229
		100,385
		100,385

Page 7

THE REDEEMED PILLAR OF FIRE AND PRAYING MISSION WORLDWIDE CHURCH Balance Sheet

at 31 December 2023

Company No. 09626733 Notes 2023 £ Fixed assets Tangible assets 10 115,276 115,276 Current assets Debtors 11 61,085 Cash at bank and in hand 30,129 91,214 Creditors:Amount falling due within one year 12 (32,071) Net current assets 59,143 Total assets less current liabilities 174,419 Creditors:Amounts falling due after more than one year 13 (15,327) Net assets excluding pension asset or liability 159,092 Total net assets 159,092 The funds of the charity Restricted funds 14 Unrestricted funds 14 General funds 159,092 159,092 Reserves 14 Total funds 159,092	2022 £ 103,373
	103,373 61,085 9,412
	70,497 (29,384)
	41,113 144,486 (25,327)
	119,159
	119,159
	119,159
	119,159
	119,159

These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

For the year ended 31 December 2023 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 Act 2006 with respect to accounting records and the preparation of accounts.

Approved by the board on 30 October 2024

And signed on its behalf by:

A. Ebhohimhen-Ben Trustee

30 October 2024

Page 8

THE REDEEMED PILLAR OF FIRE AND PRAYING MISSION WORLDWIDE CHURCH Statement of Cash flows

for the year ended 31 December 2023

Cash flows from operating activities Net income per Statement of Financial Activities Adjustments for: Depreciation of property, plant and equipment Dividends, interest and rents from investments Increase in trade and other receivables Increase in trade and other payables Net cash provided by operating activities Cash flows from investing activities Payments for property, plant and equipment Dividends, interest and rents from investments Net cash from/(used in) investing activities Cash flows from financing activities Repayment of borrowings Net cash used in financing activities Net increase in cash and cash equivalents Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year Components of cash and cash equivalents Cash and bank balances	2023 £ 39,933 30,877 (47,968) - 2,687 25,529 (42,780) 47,968 5,188 (10,000) (10,000) 20,717 9,412 30,129 30,129 30,129	2022 £ 100,385 32,510 (31,747) (45,737) 3,000
		58,411 (71,856) 31,747
		(40,109)
		(10,000)
		(10,000)

		8,302
		1,110
		9,412

		9,412

		9,412

Page 9

THE REDEEMED PILLAR OF FIRE AND PRAYING MISSION WORLDWIDE CHURCH Notes to the Accounts

for the year ended 31 December 2023

1 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 (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

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 funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.

Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values. Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.

Income

Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income 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 legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income.

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/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets

Page 10

THE REDEEMED PILLAR OF FIRE AND PRAYING MISSION WORLDWIDE CHURCH Notes to the Accounts

Expenditure

Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure 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. Grants payable 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.

Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs. Other expenditure These are support costs not allocated to a particular activity.

Taxation

The charity is exempt from corporation tax on its charitable activities.

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 or losses 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.

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.

Page 11

THE REDEEMED PILLAR OF FIRE AND PRAYING MISSION WORLDWIDE CHURCH Notes to the Accounts

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 functional 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 income/expenditure.

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 reduction 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 incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction 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 services

All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.

2 Company status

The company is a private company limited by guarantee and consequently does not have share capital.

Page 12

THE REDEEMED PILLAR OF FIRE AND PRAYING MISSION WORLDWIDE CHURCH

Notes to the Accounts

3 Statement of Financial Activities - prior year

3 Statement of Financial Activities - prior year
Income and endowments from: Donations and legacies Other Total Expenditure on: Charitable activities Other Total Net income Net income before other gains/(losses) Other gains and losses: Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward 4 Income from donations and legacies Tithes and offering 5 Other income Other income	Unrestricted £ 928,120 928,120 Unrestricted £ 47,968 47,968	Unrestricted funds 2022 £ 466,867 31,747 498,614 150,761 247,468 398,229 100,385 100,385 100,385 18,774 119,159 Total 2023 £ 928,120 928,120 Total 2023 £ 47,968 47,968	Total funds 2022 £ 466,867 31,747
			498,614 150,761 247,468
			398,229
			100,385
			100,385
			100,385 18,774
			119,159
			Total 2022 £ 466,867
			466,867
			Total 2022 £ 31,747
			31,747

Page 13

THE REDEEMED PILLAR OF FIRE AND PRAYING MISSION WORLDWIDE CHURCH

Notes to the Accounts

6 Expenditure on charitable activities

Expenditure on charitable activities Governance costs 7 Other expenditure Bank loan and overdraft interest payable Other interest payable Motor and travel costs Premises costs Amortisation, depreciation, impairment, profit/loss on disposal of fixed assets General administrative costs Legal and professional costs 8 Net income before transfers This is stated after charging: Depreciation of owned fixed assets 9 Staff costs No employee received emoluments in excess of £60,000.	Unrestricted £ 188,842 188,842 Unrestricted £ 10,405 781 - 121,477 481,320 26,163 80,398 26,769 747,313 2023 £ 26,163	Total 2023 £ 188,842 188,842 Total 2023 £ 10,405 781 - 121,477 481,320 26,163 80,398 26,769 747,313	Total 2022 £ 150,761
			150,761
			Total 2022 £ 3,562 - 1,031 79,753 83,769 22,167 50,186 7,000
			247,468
			2022 £ 22,167

Page 14

THE REDEEMED PILLAR OF FIRE AND PRAYING MISSION WORLDWIDE CHURCH Notes to the Accounts

10 Tangible fixed assets

Land and buildings £ Cost or revaluation At 1 January 2023 51,713 Additions - At 31 December 2023 51,713 Depreciation and impairment At 1 January 2023 28,142 Depreciation charge for the year 4,714 At 31 December 2023 32,856 Net book values At 31 December 2023 18,857 At 31 December 2022 23,571 11 Debtors Other debtors 12 Creditors: amounts falling due within one year Bank loans and overdrafts Other taxes and social security Other creditors 13 Creditors: amounts falling due after more than one year Bank loans and overdrafts	Equipment £ 78,191 36,430 114,621 24,984 17,927 42,911 71,710 53,207 2023 £ 61,085 61,085 2023 £ 10,000 8,295 13,776 32,071 2023 £ 15,327 15,327	Motor vehicles £ 39,460 6,350 45,810 12,865 8,236 21,101 24,709 26,595	Total £ 169,364 42,780
			212,144
			65,991 30,877
			96,868
			115,276
			103,373
			2022 £ 61,085
			61,085
			2022 £ 10,000 8,295 11,089
			29,384
			2022 £ 25,327
			25,327

Page 15

THE REDEEMED PILLAR OF FIRE AND PRAYING MISSION WORLDWIDE CHURCH Notes to the Accounts

14 Movement in funds

Incoming resources (including other gains/losses ) £ 976,088 976,088 At 1 January 2023 £	Resources expended £ (936,155) (936,155) Unrestricted funds £ 115,276 59,143 (15,327) 159,092 Cash flows £	At 31 December 2023 £ 159,092
		159,092
		Total £ 115,276 59,143 (15,327)
		159,092
		At 31 December 2023 £
9,412	20,717	30,129
9,412 (35,327) (35,327) (25,915)	20,717 10,000 10,000 30,717	30,129 (25,327)
		(25,327)
		4,802

17 Related party disclosures

Controlling party

The company is limited by guarantee and has no share capital; thus no single party controls the company.

Page 16

THE REDEEMED PILLAR OF FIRE AND PRAYING MISSION WORLDWIDE CHURCH

Detailed Statement of Financial Activities

for the year ended 31 December 2023

Income and endowments from: Donations and legacies Tithes and offering Other Other income Total income and endowments Expenditure on: Charitable activities Total of expenditure on charitable activities Other expenditure Bank loan and overdraft interest payable Other interest payable Motor and travel costs Vehicles - General costs Travel and subsistence Premises costs Rent Rates Light, heat and power General administrative costs, including depreciation and amortisation Depreciation of Equipment Depreciation of Motor vehicles Equipment leasing and hire charges Equipment repairs and maintenance General insurances Information and publications	Unrestricted funds 2023 £ 928,120 928,120 47,968 47,968 976,088 188,842 188,842 188,842 10,405 781 - 11,186 30,327 91,150 121,477 477,206 411 3,703 481,320 17,927 8,236 7,869 4,714 12,070 7,891	Total funds 2023 £ 928,120	Total funds 2022 £ 466,867
		928,120	466,867
		47,968	31,747
		47,968	31,747
		976,088 188,842	498,614 150,761
		188,842	150,761
		188,842 10,405 781 -	150,761 3,562 - 1,031
		11,186	4,593
		30,327 91,150	31,138 48,615
		121,477	79,753
		477,206 411 3,703	79,726 1,643 2,400
		481,320	83,769
		17,927 8,236 7,869 4,714 12,070 7,891	13,302 8,865 - 18,667 2,258 6,587

Page 17

THE REDEEMED PILLAR OF FIRE AND PRAYING MISSION WORLDWIDE CHURCH

Detailed Statement of Financial Activities

Software, IT support and related costs Stationery and printing Sundry expenses Telephone, fax and broadband Legal and professional costs Accountancy and bookkeeping Other legal and professional costs Total of expenditure of other costs Total expenditure Net gains on investments Net income Net income before other gains/(losses) Other Gains Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward	- 1,663 45,526 665 106,561 5,000 21,769 26,769 747,313 936,155 - 39,933 39,933 - 39,933 119,159 159,092	- 1,663 45,526 665	1,350 3,063 18,021 240
		106,561	72,353
		5,000 21,769	2,000 5,000
		26,769	7,000

		747,313	247,468
		936,155 -	398,229 -
		39,933	100,385
		39,933 -	100,385 -
		39,933	100,385
		119,159	18,774
		159,092	119,159

Page 18