## **PEACE CHAPEL INTERNATIONAL** **REPORT OF THE TRUTEES AND UNAUDITED FINANCIAL STATEMENTS** **FOR THE YEAR ENDED 28TH FEBRUARY, 2021** ## **GB Frontiers Limited** 75 Catherton Stirchley Telford TF3 1YU Tel: 07838 463 212 Email: gbfrontiers@gmail.com ## **PEACE CHAPEL INTERNATIONAL** |**Contents**|**Page**| |---|---| |**Legal and Administrative Information**|**1**| |**Trustees Reports**|**2**| |**Accountants' Reports to the Trustees**|**3**| |**Statement of Financial Activities**|**9**| |**Balance Sheets**|**10**| |**Notes to the Financial Statements**|**11**| **PEACE CHAPEL INTERNATIONAL** |**Legal and Administrative Information**|| |---|---| |**Charity Number**|**1181536**| |**Registered Office**|12A Meadow Close| ||Trench| ||Telford| ||TF2 6PA| |**Trustees**|Michael Kwabena Adofo| ||Stephen Akuoko| ||Giwrogin Twumwaah| ||Michael Adbul Karim| |**Accountants**|**GB Frontiers Limited**| ||75 Catherton| ||Stirchley| ||Telford| ||TF3 1YU| ||Tel: 07838 463 212| ||Email: gbfrontiers@gmail.com| |**Bankers**|NatWest Bank| ||Telford Town Centre| ||217 Dean Street| ||Telford| ||TF3 4BB| ## **PEACE CHAPEL INTERNATIONAL** ## **Report of the Trustee** ## **For the Year Ended 28th February, 2021** The trustees present their annual report and financial statement for the year ended 28th February, 2021. The trustees who served during the year and up to the date of this report are set out on pages 2 – 5. ## **Structure, Governance and Management** The Charity is governed by an Approved Governing Document. Members of the Church are accepted in accordance with the Constitution which requires them to be or to have been publicly profess and then baptised on the faith in Jesus Christ, or following other modes of baptism to renew their public profession of faith in Jesus Christ. The meeting of the Trustee normally takes place six (6) times per year and has responsibility for the overall policy of the church. In accordance with the Constitution, the members appoint Four Trustees, who together with the Resident Minister, Church Secretary and Treasurer (who are also appointed by the Members), are responsible for the day to day running of the Church’s work, and witness, and the financial and legal aspects of the charity. All members are encouraged to take an appropriate part in the spiritual and practical tasks involved in the furtherance of the charitable objective. Relevant matters may be submitted to the Church meeting by the Trustees for guidance, or may be raised by members in Church meeting for further consideration by the Trustees. Though the Constitution permits decisions to be made at Church meetings by appropriate majorities, the Church seeks to work by consensus wherever possible. ## **Objectives and Activities** The principal purpose of the charity is the advancement of the Christian faith according to the principles of Peace Chapel International to include the advancement of education, community service and such other general charitable purposes in Telford, and as the Church shall determine, other parts of the United Kingdom and the world as a whole. In order to achieve the principal objective which is set out above, the Church provides a variety of activities both to its membership and to the community generally which includes; - i. Advancing the Christian faith initially in and around the area of Telford and thereafter further afield for the benefit of the public through holding of Prayer Meetings, Lectures, Public Celebration of Christian Festivals. Producing and/or distributing literature on Christianity to enlighten others about the Christian faith and religion; and - ii. Alleviation of poverty in and around the area of Telford by providing relief items and services to individuals in need. The aim is to show the love of Jesus Christ in both word and deed and to bring people into a closer relationship with Him as living Lord. Central to the work and witness of the Church is the provision of regular public services of Christian worship. These services take place every Wednesday, Friday. Saturday, and Sunday of the week. There are also occasional services at other times which are advertised at every Church Service and also on the Church Notice Board. There is a full children’s programme during the morning services. The Church therefore, seeks to be a friendly and welcoming community and anybody is free to attend any of these services. ## **Achievements and Performance** The Church does not measure the success of its programmes only in numbers, including financial numbers, but also in less tangible areas like fellowship and encouragement. The Trustees recognise that these are difficult to measure, but believe that 2020 was a difficult year in the life of the church due to various lock down and restrictions due to the COVID-19 pandemic, but the church hopes that it will be able to pursue its mission purposes in 2021 with renewed enthusiasm. The programmes and activities that have been delivered for the benefit of the public can be categories into three high level themes; - a. Helping Humanity through provision of food, water, shelter, medication, and general aid for the needy and vulnerable in society. - b. Inspiring individuals though events, activities, seminars, conferences, lectures, speeches, and discussion forums. - c. Promoting peace through dialogue between diverse communities and community groups. Additionally, the Church hopes to continue in its duties and; - i. Work for the promotion of physical, mental, spiritual, cultural, and educational welfare of mankind - ii. Facilitate the consideration and discussion of all subjects affecting welfare of mankind - iii. Strengthen the character of individuals through the teachings of personal responsibility - iv. Promote the teachings of truth, justice, charity, religious acceptance, and social harmony - v. Promote the respect for human rights - vi. Assist communities across the world who are vulnerable to abuse, violation, discrimination, harassment or attack and those affected by natural disasters. ## **Financial Review** The Church continues to raise funds which it needs and to carry on its activities from within its own membership and congregation. No wider public appeal was made for funds during the year. The Church is heavily dependent on its membership working as volunteers in all aspects of the church’s activities, many of which run with little or no impact on the church’s expenditure, but nevertheless contribute substantially to the achievement of the church’s objectives. The financial results for the year, together with a summary of the accounting policies adopted are set out in the accompanying financial statements. ## **Funds Accounting Policy** The Church – Peace Chapel International – operates an unrestricted funds for ongoing charitable activities ## **Reserve Policy** The Trustees have established a Reserves Policy to enable the church to function effectively and meet its obligations in the event of a decline in its income or major cost. Having considered the relevant risks of changes in income and expenditure, the Trustees have determined that the appropriate level of reserves is in the range £2,000.00 to £5,000. As at 28th February, 2020, the church held total funds of £5,000.45 of which £2,000.00 were restricted and £2,000.00 designated. £2,000.00 has been designated for a planned work in the new acquired and rented Church building, and with the hope of increasing the quantum of the designated funds to help meet the various planned work outline for the coming year. Reserves that were neither restricted nor designated amounted to £1,000.45 ## **Statement as to Disclosure of Information to Accountants** In as much as the trustees are aware - There is no relevant information of which the charity’s accountants are unaware; and - The trustees have taken all steps they ought to have taken to make themselves aware of any relevant account information and to establish that the accountants are aware of the information. ## **Statement of Trustees’ Responsibilities** The trustees are responsible for the preparation of the Trustees’ Annual Report and the Financial Statements in accordance with the applicable law and the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the incoming resources and the applications of resources of the charity for that year. In preparing these financial statements the trustees are required to: 1. Select suitable accounting policies and then apply them consistently 2. Observe the methods and principles in the Charities SORP 3. Make judgements and estimates that are reasonable and prudent 4. State whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements, and 5. Prepare the Financial Statements on Going Concern Basis unless it is inappropriate to presume that the charity will continue in operation. The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statement comply with the Charities Act 2011. The Trustees 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. ## **Independent Examiner / Accountants** GB Frontiers Limited was appointment as the Examiner will act as independent examiner / accountant to prepare a report in respect of the Church’s financial statements for the year ended 28th February, 2021 in accordance with Section 145 of the Charities Act 2011. On behalf of the Board of Trustees **Trustees Trustees Michael Kwabena Adofo Micheal Karim** ## **PEACE CHAPEL INTERNATIONAL** ## **Report of the Independent Examiner / Accountant to the Trustees of Peace Chapel International** ## **On the Accounts for the Year Ended 28th February, 2021** ## **Respective responsibilities of Trustees and Independent Examiner** The Church’s Trustees are responsible for the preparation of the accounts. The church’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed. It is my responsibility to: examine the accounts under section 145 of the Charities Act, - to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act, and - to state whether particular matters have come to my attention. ## **Basis of independent examiner’s statement** My examination was carried out in accordance with general Directions given by the Charity Commission. 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 the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below. ## **Independent Examiner's Statement** In connection with my examination, no material matters have come to my attention which gives me cause to believe that in, any material respect: - accounting records were not kept in accordance with section 130 of the Charities Act or the accounts do not accord with the accounting records - the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view which is not a matter considered as part of an independent examination. I have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached. Signed by or on behalf of the Examiner ## **Godfred Boamah** MSc (Econs) Corporate Finance / Finance and Investment Management Independent Examiner ## **GB Frontiers Limited** Accountants and Tax Consultants 75 Catherton Stirchley Telford TF3 1YU Tel: 07838 463 212 Email: gbfrontiers@gmail.com ## **PEACE CHAPEL INTERNATIONAL** ## **Statement of Financial Activities For The Year Ended 28th February, 2021** |**Incoming Resources**
**Opening Bank Balance**
Donations
HMRC Charities
Sundry Receipts
Special Offering
Other Income
**Total Incoming Resources**
**Resources Expanded**
Adminstrative Expenses
Accountancy and Consultancy Fees
Bank Charges
Building Insurance
Bus Insurance & Recovery
Church Planting & Evangelism
Conferences / Seminars / Retreats
Equipment Expenses/Maintenance
Equipment Purchases
Missions Expenses
Ministers International Travel
Motor Running Expenses
Pastors Allowance
Pastors Salary
Premises Repairs and maintenance
Printing & Stationery
Deposite For Church Building
Rent - Place of Worship
Rent - Church Office and Storage
Sundry expenses
Tax Payable to HMRC
Travel Expenses
**Total Resources Expanded**
**SURPLUS (DEFICIT)**|**Unrestricted**
**Funds**
Consolidated
Account
**2020 - 2021**
**£**
77,299.75
41,120.00
16,821.06
0.00
0.00
15,000.00
**150,240.81**
3,476.65
1,531.52
0.97
0.00
961.00
200.00
0.00
114.95
3,398.00
0.00
0.00
851.43
590.00
19,708.84
30,542.40
700.00
73,776.67
2,378.00
2,500.00
0.00
4,509.92
0.00
**145,240.35**
**5,000.46**|**Unrestricted**
**Funds**
Consolidated
Account
**2019 - 2020**
**£**
119,132.39
0.00
0.00
25,341.55
0.00| |---|---|---| |||**144,473.94**| |||3,515.25
1,145.08
0.00
568.69
740.09
9,180.00
5,100.00
0.00
600.00
20.00
1,890.00
749.64
5,300.00
7,107.56
1,000.00
304.00
0.00
13,387.00
14,591.00
675.00
819.00
400.00| |||**67,092.31**| |||| |||**77,381.63**| ## **PEACE CHAPEL INTERNATIONAL** ## **Balance Sheet** ## **For The Year Ended 28th February, 2020** |**Current Assets**
Cash at bank and in hand
**Less:**Creditors amount falling due within one year
**Funds**
Reserves
**Total Funds**
Restricted Funds
Designated Funds
Unrestricted Funds
Total Funds|**2020 - 2021**
**£**
5,000.46
-
**5,000.46**
5,000.46
**5,000.46**
2,000.00
2,000.00
1,000.46
**5,000.46**|**2019 - 2020**
**£**
77,299.75
-| |---|---|---| |||**77,299.75**| |||77,299.75| |||**77,299.75**| |||5,000.00
70,000.00
2,299.75| |||**77,299.75**| The Financial Statement were approved by the trustees on 28-Feb-21 and signed on its behalf by **Michael Adofo** **Michael Karim** ## **Trustees** ## **PEACE CHAPEL INTERNATIONAL** ## **Notes to Financial Statements** ## **For the Year Ended 28th February, 2021** ## **1. Accounting Polices** The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and the preceding year. ## **1.1. Basis of Accounting** The financial statements are prepared under the historical cost convention and in accordance with the Statement of Recommended Practice ‘Accounting and Reporting by Charities’ Act 2011 ## **1.2. Incoming Resources** All incoming resources are included in the Statement of Financial Activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income: - **1.2.1.Voluntary Income** – Voluntary Income is received by way of grants, donations and gifts and is included in full in the Statement of Financial Activities when receivable. - **1.2.2. Grants** – Grants where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant. - **1.2.3. Donated Service and Facilities** – Donated services and facilities are included at the value to the charity where this can be quantified. The value of services provided by volunteers has not been included. - **1.2.4. Gifts** – Gifts donated for resale are included as incoming resources within activities for generating funds when they are sold. ## **1.3. Resources Expended** - **1.1.1. Expenditure** – Expenditure is recognised on the accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates. - **1.1.2. Cost of Generating Funds** - Cost of generating funds comprise the costs associated with attracting voluntary income and the costs of trading for fundraising purposes including the charity’s shop. - **1.1.3. Charitable Expenditure** – Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.