BETHEL GOSPEL MINISTRIES LONDON
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31[st ] ~~D~~ ecember 2020
CHARITY NUMBER: 1178305
BETHEL GOSPEL MINISTRIES LONDON
40 ST BARTH O LO M EW’S RO AD LONDON E6 3AG
INDEX Page Index 1 Trustee’s Report 2 - 3 Receipts and Payments Account 4 Statement of Assets and Liabilities 5 Notes on the financial Statements 6
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BETHEL GOSPEL MINISTRIES LONDON
TRUSTEES’ REPORT YEAR ENDED 31[st ] DECEMBER 2020
The trustees are pleased to present their report for the year ended 31[ST ] December 2020 for the charity, Bethel Gospel Ministries London with charity number 1178305. The Trustees of the charity are:
Pius John Michael Varghese Ramaraj Ramasamy
The principal address of the charity is : 40 St Bartholomew’s Road
London E6 3AG
STRUCTURE, GOVERNANCE AND MANAGEMENT
The Charity governing document is a CIO – Foundation Constitution registered 9[TH ] May 2018.The Charity is governed by a board on which the trustees are represented. It meets regularly to review, plan activities and monitor the financial position.
OBJECTIVES AND ACTIVITIES
The Objects of the organization are first to advance the Christian faith in accordance with the statement of beliefs for the benefit in the United Kingdom and in such other parts of the world as the trustees may think 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.
ACHIEVMENTS AND PERFORMANCE
The Organization held successful meetings through the year in which individuals were equipped and educated on the principles and doctrines of the Christian faith. The organization held several conferences during the year in which individuals came from all around the community to attend. This has produced good results in reaching and helping members of the community.
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FINANCIAL REVIEW
The income of the charity is above £8,000. Though this is a small amount for the year the costs have been well managed over this period. The organization is still in a good position to manage its costs. The main cost of the organization was paying for the rent of its building that it uses for worship services and church office rent.
PLANS FOR THE FUTURE
The church intends to continue to host its regular worship services. The intended reappointment of our present independent examiner at the upcoming trustee meeting is expected to support the financial operations by making it more effective.
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 sufficient funds to cover any emergency expenditures that may arise from time to time. The charity will seek to maintain this level throughout the year.
RISK MANAGEMENT
The charity have assessed all the major risks to which the charity is exposed to, in particular 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 2011,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 2011.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 29[th ] October 2021 and signed on their behalf by:
ACCOUNTS FOR THE YEAR ENDED 31ST December 2020
Receipts and Payments Account {General Purpose Fund}
1 Receipts and Payments Account ( General Purpose Fund) Income Receipts £/2020 £/2019 £/2018 Tithes and Offerings 11267 8448 11196 Total Receipts 11267 8448 11196 Direct Charitable Expenditure
Church Rent 2800 3600 3600 Welfare 500 200 1184 Stationery 176 166 421 Professional fees 450 720 480 Subscriptions 250 350 349 Travel costs 325 238 24 Refreshments 100 150 212 Charity giving 500 1750 1121 Pastors Expenses 2600 2300 1630 Speaker Expenses 375 200 Conference Costs 500 8076 10174 9021 Other Expenditure Equipments 0 0 362 Instruments 0 0 0 0 362 Total Payments 8076 10174 9383 Net Receipts/(Pay for the year) 3191 -1726 1813 Cash Funds brought forward 6504 8230 6417 Cash Funds at the end of the year 9695 6504 8230
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BETHEL GOSPEL MINISTRIES LONDON
2 Statements of Assets and Liabilities at 31st December 2020 Monetary Assets Cash Funds Unrestricted Funds £/2020 £/2019 £/2018 Bank 9695 6504 7536 Cash in hand 0 0 694 Total Cash Funds 9695 6504 8230 Assets Retained for the Charity's Own use Non-monetary Assets/Liabilities Equipments 362 362 362 362 362 362 Liabilities Bookkeeping 240 240 240
These accounts were approved by the trustees and signed on their behalf by: Pius John
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BETHEL GOSPEL MINISTRIES LONDON
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31st December 2020
ACCOUNTING POLICIES
Basis of Accounting
These accounts have been prepared on the receipts and payments basis with all revenue and expenses shown on a cash basis. Non-monetary assets are shown at estimates of the value at the end of the year.
Funds
The CIO has a general unrestricted fund that receives voluntary donations from attendants at the services.
The CIO has no outstanding guarantees to third parties no any debts secured on the asstes of the CIO
Public Benefit
The charity acknowledges its requirement to demonstrate clearly that it must have charitable purposes or aims that are for public benefit.Details of how this is achieved are provided in the Trustees report. The trustees confirm that they have paid due regard to the Charity Commission guidance on public benefit before deciding what activities the charity should undertake.
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