MIRACLE GROUNDS AND PRAYER MINISTRY STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2023
CONTENTS CHARITY INFORMATION.............. TRUSTEES REPORT... .24 ACCOUNTANT'S REPORT.............. INCOME & EXPENDITUREACCOUNT................. .. BALANCE SHEET............. NOTES TOACOUNTS.................. 8-10
ORGANISATION INFORMATION NAME OF ORGANISATION: MIRACLE GROUNDS AND PRAYER MINISTRY TRUSTEES: DAVID AKAKPO DOMINIC TWUM-ANTW ERNEST BOADI SMITH NSUKA ESPERANCE MAYALA REGISTERED OFFICE: SUIT2 CONNAUGHT HOUSE 15-17 UPPER GEORGE STREET LUTON LUI 2RD CHARITY REGISTERED NUMBER 1177524 BANKERS Barclays Bank PIC ACCOUNTANTS EA Winful & Assoclates
Reserves policy The Trustees acknowledge that it will require about £5,000 for three month's operations without any income. The general reserve is more than the safety level, and this level is to be maintained. The Trustees by strategic planning are to maintain the level of secured funds in the next 5 year5 by setting up a £6,000 reserve funds account with the bank. Operational income and expenditure For the year under review, the church made a financial surplus of £7450 against 1£2404 surplus in 20221 Total offerings, donations and other income received was £63,0151£44,461 in 20221 this was up from last year as restrictions on worship was eased following the pandemic lockdown. Online worship and donations contributed to the rise. Total operating cost was £55,5651£42,059 in 2022} this was up from last year. Trustees are of the opinion that for the foreseeable future. increased evangelism to a bigger audience from internet, phone apps, and tweeter, what's up and the Facebook is a long-term strategy to expand the Ministry. Trustees are most grateful to the members and the public who continued to give to the work of God carried on at the church. Volunteer servlces The Trustees would like to mention the work of several dedicated volunteers whose contribution immensely contributed to the work at the church. The church bersefited from these services provided free of charge. The trustees once again extend a big thank you to all its volunteers.
INDEPENDENT EXAMINER'S REPORT I report on the accounts of the Charity forthe year ended 31 December 2023, prepared based on the accounting policies shown in the corresponding pages RESPEcfivE RESPONSIBILITIES OF MANAGEMENT AND EXAMINER: As the church trustees you are responsible for the preparation of the accountS- Voil consider that the audit requirement of section 43121 of the Charities Art 1993 (the Act} does not apply. It is my responsibility to State, based on procedure5 specified the General Directions given by the Charity Commissioners under section 4317llb} of the Act, whether matters have come to my attention. BA51S OF INDEPENDENT EXAMINER'S REPORT: My examination was carried out in accordance with the General Directions given by the Charity commissioners. An examination includes a review of the accounting records kept by the church 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 matter5. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do express an audit opinion on the view given by the accounts. INDEPENDENT EXAMINER'S STATEMENT.. In connection with my examination, no matter has come to my attention, which gives me reasonable cause to believe, that any material respects the requirements i. to keep accounting records in accordance with section 41 of the Act and 2. to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the Act has not been met. E A Winful, FCCA EA WINFUL & ASSOCIATES CHARTERED CERTIFIED ACCOUNTANTS 18 HERO WALK ROCHESTER KENT MEI 2UZ
MIRACLE GROUNDS AND PRAYER MINISTRY. STATEMENT OF FINANCIAL ACTIVITIES For the year eed 31 December 2023 INCOME AND EXPENDITURE Notes Unreslricled Restri¢ted 2023 2022 In¢oming Resources Tithes & Offerings 50,124 50,124 27.118 Investment Income 655 655 214 Other Operating Income 12,236 12,236 17,129 Total Income Resources 63,015 44,461 Resources Expanded Cost of Activities 155,5651 142.0591 Total Resources Expanded 155,565) {42,059) Nel Incoming I (Outgoing) ResourrEs 7,450 2,402 Funds brought forward 01101122 2.402 Designated funds utslised Funds carried forward 31112123 9,852 2,402 See noles on the following pages lor détailed analysis of in¢ome and expenditurè CONTINUING OPERATION None of the chaiity's activities were acouired or discontinued during the CUTient and pievlous yeafs. and the deficit lor the previous yeaf. TOTAL RECOGNISED GAINS AND DEFICITS The charty has no reGognised gains or deficits other than the svrplus the currenl year The notes form part of thes& account5. Page 6
MIRACLE GROUNDS AND PRAYER MINISTRY. ST BALANCE SHEET AS AT 31 DECEMBER 2023 FIXED ASSETS Note 2023 2022 Tangible Assets 6.902 CURRENT ASSETS Debtors I Prepayments Bank / Cash 2,402 2,402 2,950 CREDITORS.. Amounts falling due within one year 10 Nel Currenl Assets I ILiabililies} 2.950 2,402 CREDITORS.. Amounts falling due for more Ihan one yeaf Tolal Assets less Liabilrtios FUNDS Unrestricted Funds 11 9,852 Miins nvuM.hi(nvi Signature Page 7
MIRACLE GROUNDS AND PRAYER MINISTRY. NOTES TO THE FINANCIAL STATEMENTS OF 2023 1 ACCOUNTING POLICIES 1 Accounts'ng Convention The accounts have been prepared under the historical cost convention, and in accordance with SORP 2 Accounts'ng for Charilies. ExemptDn has been taken from preparing a cash flow statement on the grounds thet the charity is a small undertaking. Incoming Resour5 Incoming Resources represents collections, pledges & Tithes donations income due in the year. Page 8
MIRACLE GROUNDS AND PRAYER MINISTRY. Notes to the Accounts for the year ended 31st December 2023 Notes 2023 2023 2023 2022 2 TITHES & OFFERINGS 15 Unrestricted Reslricled 25,265 24,859 25,265 24,859 15,264 11,854 Collections Thanksgiving Total income reiVed 3 Investment Income 655 214 4 Other Income Giftm'd Refunds Unrestricted Reslricted 12,236 12,236 17129 2023 2022 5a COST OF ACTIVITIES Honoiarium Evangelism & mission Admin & Stalionaries Telephone Rent & Rates Gas & Electric Maintenance Bank charges Total Cost of Activities 15 (12.7551 19,2681 16.2651 11,258) 12,8501 12,7471 114,4001 114,4001 16,4391 12,1281 19.3481 {10,799} 258 209 5b Governance 13,2501 11,250) Page 9
MIRACLE GROUNDS AND PRAYER MINISTRY. 2023 2022 7 BANK I CASH Cash & Bank TOTAL 8 DEBTORS Sundries 9 FIXED ASSETS Fixtures & Fittin9S Musical Instruments 6902 10 CREDITORS.. Amount falling due within one year Sundary Creditors 11 UNRESTRICTED FUNDS brought forward Surplus for the year Designated funds Carried forward 2,402 7,450 2,402 9.852 2,402 Page 10