REGISTERED COMPANY NUMBER: CE016184 (England and Wales) REGISTERED CHARITY NUMBER: 1181536
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28TH FEBRUARY 2025
FOR
PEACE CHAPEL INTERNATIONAL CIO
D E Ball & Co Limited Chartered Accountants 15 Bridge Road Wellington Telford Shropshire TF1 1EB
PEACE CHAPEL INTERNATIONAL CIO
CONTENTS OF THE FINANCIAL STATEMENTS for the Year Ended 28th February 2025
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | to | 6 |
| Notes to the Financial Statements | 7 | to | 11 |
| Detailed Statement of Financial Activities | 12 |
PEACE CHAPEL INTERNATIONAL CIO
REPORT OF THE TRUSTEES
for the Year Ended 28th February 2025
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 28th February 2025. The trustees have adopted the provisions of 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 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The charitable objects are :
A) to advance the Christian faith for the public benefit through the provision of facilities for public worship, prayer and evangelism, primarily in Telford, and thereafter further afield: and
B) the relief of poverty primarily in and around the areas of Telford by providing grants, items and services to individuals in need of financial and / or benevolent support.
Public benefit
The trustees have had regard to the public benefit guides PB1, PB2 and PB3 when making decisions on the actions of the charity.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
The church continues to promote the advancement of the Christian faith through church activities. It also continues to strive to :
-
help the needy and vulnerable in society,
-
encourage and inspire individuals,
-
promote peace within the diverse communities and groups.
FINANCIAL REVIEW
Financial position
The church continues to raise funds :
-
to meet the day to day running costs of church activities, and,
-
towards the intended purchase of a church building.
The Trustees regard the current financial position as being satisfactory but recognise the ongoing need for close management of the church's finances.
Reserves policy
Details are provided in the notes to the accounts.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Charity constitution
The meeting of the Trustees normally takes place four times per year and has the responsibility for the overall policy of the church. The members appoint six Trustees, which include the resident Minister, and the Treasurer, who work with the church secretary in the day to day running of the church's activities, and witness the financial and legal aspects of the Charity.
Page 1
PEACE CHAPEL INTERNATIONAL CIO
REPORT OF THE TRUSTEES for the Year Ended 28th February 2025
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number CE016184 (England and Wales)
Registered Charity number 1181536
Registered office
Old Chapel Lion Street Oakengates Telford Shropshire TF2 6AQ
Trustees
B Adofoh Rev M Adofo Rev S Tetteh Rev K A Salifu S A Frimpong G A Twumwaah
Independent Examiner
D E Ball & Co Limited Chartered Accountants 15 Bridge Road Wellington Telford Shropshire TF1 1EB
Bankers
NatWest Bank Telford Town Centre 217 Dean Street Telford TF3 4BB
Approved by order of the board of trustees on 1st May 2025 and signed on its behalf by:
B Adofoh - Trustee
Page 2
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF PEACE CHAPEL INTERNATIONAL CIO
Independent examiner's report to the trustees of Peace Chapel International CIO ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 28th February 2025.
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 accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company 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 accounts 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
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act 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; or
-
the accounts 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 accounts to be reached.
Russell Ball - FCA
D E Ball & Co Limited Chartered Accountants 15 Bridge Road Wellington Telford Shropshire TF1 1EB
1st May 2025
Page 3
PEACE CHAPEL INTERNATIONAL CIO
STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 28th February 2025
| Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 76,840 Investment income 2 740 Total 77,580 EXPENDITURE ON Charitable activities Church 44,615 NET INCOME 32,965 RECONCILIATION OF FUNDS Total funds brought forward 103,891 TOTAL FUNDS CARRIED FORWARD 136,856 |
Restricted fund £ - - - - - - - |
28.2.25 29.2.24 Total Total funds funds £ £ 76,840 59,076 740 343 77,580 59,419 44,615 35,053 32,965 24,366 103,891 79,525 136,856 103,891 |
28.2.25 29.2.24 Total Total funds funds £ £ 76,840 59,076 740 343 77,580 59,419 44,615 35,053 32,965 24,366 103,891 79,525 136,856 103,891 |
|---|---|---|---|
| 59,419 | |||
| 35,053 | |||
| 24,366 79,525 |
|||
| 103,891 |
The notes form part of these financial statements
Page 4
PEACE CHAPEL INTERNATIONAL CIO
BALANCE SHEET
28th February 2025
| Unrestricted funds Notes £ FIXED ASSETS Tangible assets 5 70,000 CURRENT ASSETS Cash at bank and in hand 86,094 CREDITORS Amounts falling due within one year 6 (11,550) NET CURRENT ASSETS 74,544 TOTAL ASSETS LESS CURRENT LIABILITIES 144,544 CREDITORS Amounts falling due after more than one year 7 (7,688) NET ASSETS 136,856 FUNDS 9 Unrestricted funds TOTAL FUNDS |
Restricted fund £ - - - - - - - |
28.2.25 Total funds £ 70,000 86,094 (11,550) 74,544 144,544 (7,688) 136,856 136,856 136,856 |
29.2.24 Total funds £ 70,000 44,733 (1,550) 43,183 113,183 (9,292) 103,891 103,891 103,891 |
|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28th February 2025.
The members have not required the company to obtain an audit of its financial statements for the year ended 28th February 2025 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
Page 5
continued...
PEACE CHAPEL INTERNATIONAL CIO
BALANCE SHEET - continued
28th February 2025
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 1st May 2025 and were signed on its behalf by:
M Adofo - Trustee
B Adofoh - Trustee
The notes form part of these financial statements
Page 6
PEACE CHAPEL INTERNATIONAL CIO
NOTES TO THE FINANCIAL STATEMENTS for the Year Ended 28th February 2025
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Freehold property is not depreciated. The trustees are of the view that the level of ongoing repair and maintenance of the property will result in the residual value of the property at the end of its useful life being greater than its original cost. This is reviewed annually by the trustees.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2.
INVESTMENT INCOME
| INVESTMENT INCOME | ||
|---|---|---|
| 28.2.25 | 29.2.24 | |
| £ | £ | |
| Deposit account interest | 740 | 343 |
continued...
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PEACE CHAPEL INTERNATIONAL CIO
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 28th February 2025
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 28th February 2025 nor for the year ended 29th February 2024.
Trustees' expenses
There were no trustees' expenses paid for the year ended 28th February 2025 nor for the year ended 29th February 2024.
4.
5.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted funds £ INCOME AND ENDOWMENTS FROM Donations and legacies 59,076 Investment income 343 Total 59,419 EXPENDITURE ON Charitable activities Church 35,053 NET INCOME 24,366 RECONCILIATION OF FUNDS Total funds brought forward 79,525 TOTAL FUNDS CARRIED FORWARD 103,891 TANGIBLE FIXED ASSETS COST At 1st March 2024 and 28th February 2025 NET BOOK VALUE At 28th February 2025 At 29th February 2024 |
Restricted Total fund funds £ £ - 59,076 - 343 - 59,419 - 35,053 - 24,366 - 79,525 - 103,891 Freehold property £ 70,000 70,000 70,000 |
Total funds £ 59,076 343 |
|---|---|---|
| 59,419 | ||
| 35,053 | ||
| 24,366 79,525 |
||
| 103,891 |
continued...
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PEACE CHAPEL INTERNATIONAL CIO
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 28th February 2025
6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Bank loans and overdrafts (see note 8) Accrued expenses CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR Bank loans (see note 8) LOANS An analysis of the maturity of loans is given below: Amounts falling due within one year on demand: Bank loans Amounts falling between one and two years: Bank loans - 1-2 years Amounts falling due between two and five years: Bank loans - 2-5 years Amounts falling due in more than five years: Repayable by instalments: Bank loans more 5 yr by instal MOVEMENT IN FUNDS Net movement At 1.3.24 in funds £ £ Unrestricted funds General fund 8,594 13,988 Building Fund 95,297 18,977 103,891 32,965 TOTAL FUNDS 103,891 32,965 |
28.2.25 £ 1,550 10,000 11,550 28.2.25 £ 7,688 28.2.25 £ 1,550 1,550 4,650 1,488 Transfers between funds £ (12,000) 12,000 - - |
29.2.24 £ 1,550 - 1,550 29.2.24 £ 9,292 29.2.24 £ 1,550 1,550 4,650 3,092 At 28.2.25 £ 10,582 126,274 |
|---|---|---|
| 136,856 | ||
| 136,856 |
7.
8. LOANS
9.
continued...
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PEACE CHAPEL INTERNATIONAL CIO
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 28th February 2025
9. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | ||
|---|---|---|---|---|
| resources | expended | in funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 58,603 | (44,615) | 13,988 | |
| Building Fund | 18,977 | - | 18,977 | |
| 77,580 | (44,615) | 32,965 | ||
| TOTAL FUNDS | 77,580 | (44,615) | 32,965 | |
| Comparatives for movement in funds | ||||
| Net | Transfers | |||
| movement | between | At | ||
| At 1.3.23 | in funds | funds | 29.2.24 | |
| £ | £ | £ | £ | |
| Unrestricted funds | ||||
| General fund | 9,525 | 19,069 | (20,000) | 8,594 |
| Building Fund | 70,000 | 5,297 | 20,000 | 95,297 |
| 79,525 | 24,366 | - | 103,891 | |
| TOTAL FUNDS | 79,525 | 24,366 | - | 103,891 |
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 54,122 | (35,053) | 19,069 |
| Building Fund | 5,297 | - | 5,297 |
| 59,419 | (35,053) | 24,366 | |
| TOTAL FUNDS | 59,419 | (35,053) | 24,366 |
continued...
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PEACE CHAPEL INTERNATIONAL CIO
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 28th February 2025
9. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund Building Fund TOTAL FUNDS |
At 1.3.23 £ 9,525 70,000 79,525 79,525 |
Net movement in funds £ 33,057 24,274 57,331 57,331 |
Transfers between funds £ (32,000) 32,000 - - |
At 28.2.25 £ 10,582 126,274 |
|---|---|---|---|---|
| 136,856 | ||||
| 136,856 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 112,725 | (79,668) | 33,057 |
| Building Fund | 24,274 | - | 24,274 |
| 136,999 | (79,668) | 57,331 | |
| TOTAL FUNDS | 136,999 | (79,668) | 57,331 |
10. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 28th February 2025.
11. FUNDS
General Fund - the Trustees aim to keep atleast £8,000 in General Funds to cover three months expenditure should there be a short term fall in income.
Building Fund - this Fund is designated by the Trustees for the purchase of a Church building.
Page 11
PEACE CHAPEL INTERNATIONAL CIO
DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 28th February 2025
| 28.2.25 | 29.2.24 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Gifts | 67,018 | 49,472 |
| Gift aid | 9,822 | 9,604 |
| 76,840 | 59,076 | |
| Investment income | ||
| Deposit account interest | 740 | 343 |
| Total incoming resources | 77,580 | 59,419 |
| EXPENDITURE | ||
| Charitable activities | ||
| Rates and water | - | 1,535 |
| Insurance | 1,137 | 1,678 |
| Light and heat | 4,624 | 3,545 |
| Repairs & equipment | 5,994 | 9,330 |
| Rent | 13,200 | 13,232 |
| Travel | 6,526 | 1,945 |
| Donations | 5,591 | 462 |
| Honorarium | 3,900 | 1,290 |
| Accountancy | 1,254 | 600 |
| Admin & sundry expenses | 2,129 | 1,138 |
| Bank loan interest | 260 | 298 |
| 44,615 | 35,053 | |
| Total resources expended | 44,615 | 35,053 |
| Net income | 32,965 | 24,366 |
This page does not form part of the statutory financial statements
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