THE POWERWORD INT
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31[st] DECEMBER 2024
CHARITY NUMBER: 1181140
THE POWERWORD INT 11 LUNE COURT ANDOVER HAMPSHIRE SP10 5EW
INDEX Page Index 1 Trustee’s Report 2 – 3 Independent Examiner’s Statement 4 Receipts and Payments Account 5 Statement of Assets and Liabilities 6 Notes on the financial Statements 7
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THE POWERWORD INT
TRUSTEES’ REPORT YEAR ENDED 31[ST] DECEMBER 2024
The trustees are pleased to present their report for the year ended 31[st] December 2024 for the charity, The Powerword Int with charity number 1181140.
The Trustees of the charity are: Isabella Asiamah Andrews Acquaye Allian Beckford
The principal address of the charity is : 11 Lune Court Andover, Hampshire SP10 5EW
STRUCTURE, GOVERNANCE AND MANAGEMENT
The Charity governing document is a CIO – Foundation Constitution registered 12[TH] December 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 organisation are first to advance the Christian Religion for public benefit . 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 Organisation continues to hold successful meetings through the year in which individuals were equipped and educated on the principles and doctrines of the Christian faith. The church continues to hold its services in the church hired premises. This continued to be effective in reaching the members of the community. The organisation also hosted a radio program on a local radio station to spread its gospel message and this was well received by the public. The organisation has purchased land in Ghana and continues to work in building a branch church over there. In the meantime they have supported their branch with covering the rent for the temporary use of a building.
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FINANCIAL REVIEW
The income of the charity is above £64,000. This is a good amount for this year of the charity the costs have been well managed over this period. The organisation is still in a good position to manage its costs. The main cost of the organisation was paying for the rent of its building that it uses for worship services, purchasing equipment for the services and supporting the branch church in Ghana.
PLANS FOR THE FUTURE
The church intends to continue to host its regular yearly conferences in UK. The intended re-appointment 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 16[th] January 2025 and signed on their behalf by:
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Independent Examiner’s Report To the Trustees
THE POWERWORD INT
I report on the accounts of the charity for the year ended 31[st ] December 2024 set out on the following pages which have been prepared on the basis of the accounting policies shown in the corresponding pages.
Respective responsibilities of trustees and examiner
The trustees of the charity are responsible for the preparation of accounts: they consider that the audit requirement under section 144(2) of the Charities Act 2011 (the 2011 Act),does not apply. It is my responsibility to :
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Examine the accounts under section 145 of the 2011 Act.
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Follow the procedures laid down in the General Directions given by the Charity Commissioners made under section 145(5)(b) of the 2011 Act.
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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 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 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 I do not express an audit opinion on the view given by the accounts.
Independent examiner’s statement
In the course of my examination, no matter has come to my attention;
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(1) which gives me reasonable cause to believe that, in any material aspect, the trustees have not met the requirements to ensure that:
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proper accounting records are kept( in accordance with section 130 of the 2011 Act
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accounts are prepared which agree with the accounting records and comply with the accounting requirements of the 2011 Act: or
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(95) to which , in my opinion , attention should be drawn in order to enable a
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proper understanding of the accounts to be reached.
Chuks Ajuka BSc(Man), FICB PMDip FRESH FIRE ORGANISATION Generator Business Centre 95 Miles road Mitcham Surrey
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THE POWERWORD INT
ACCOUNTS FOR THE YEAR ENDED 31st December 2024
1 Receipts & Payments Account (General Purpose Fund)
| Income Receipts Donations Interest Gift Aid Total Receipts Direct Charitable Expenditure Subscriptions Hall Hire Telephone Pastors Expenses Training Staff Wages Church Supplies Hospitality Church events Books & Printing Mission Welfare Repairs Radio program Hotel Travel expenses Media services Visiting Speakers expenses Bank charges Admin costs Tax/Ni contributions Professional fees Webhosting cost Other Expenditure Equipment Land Insurance Total Payments Net Receipts/(Payments) for the year Cash Funds brought forward Cash Funds at the end of the year |
£/2024 £/2023 53029 55582 0 0 11588 8145 |
|---|---|
| 64617 63727 495 909 4795 5930 300 235 5792 5525 225 103 19075 14009 558 867 2141 1469 514 3065 268 377 9659 17250 3790 3331 41 52 550 410 805 390 1538 1419 899 479 1447 1273 482 374 2438 1739 2585 1496 1218 271 14 |
|
| 60164 60438 1525 362 2500 3620 654 602 |
|
| 4679 4584 64843 65022 -226 -1295 2542 3837 |
|
| 2316 2542 |
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THE POWERWORD INT
| **2 ** | Statements of Assets and Liabilities at 31st December 2024 | Statements of Assets and Liabilities at 31st December 2024 | Statements of Assets and Liabilities at 31st December 2024 |
|---|---|---|---|
| Monetary Assets | |||
| Cash Funds | Unrestricted Funds | ||
| £/2024 | £/2023 | ||
| £ | |||
| Current Account & cash in hand | 804 | 681 | |
| Savings Account | 1512 | 1861 | |
| Total Cash Funds | 2316 | 2542 | |
| Assets Retained for the | |||
| Charity's Own use | |||
| Non-monetary Assets and Liabilities | |||
| Musical Instruments | 145 | 181 | |
| Equipments | 4422 | 4002 | |
| Fixtures & Fittings | 293 | 366 | |
| Land | 16168 | 13668 | |
| 21028 | 18217 | ||
| Liabilities | |||
| Bookkeeping | 384 | 360 | |
| NET ASSETS | 22960 | 20399 |
These accounts were approved by the trustees and signed on their behalf by:
Isabella Asiamah
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THE POWERWORD INT
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31st December 2024
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.
Trustees' Benefits
None of the trustees were paid or received any benefits during the financial year. The church employed 1 staff under the PAYE scheme as a Minister of Religion.
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