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2021-03-31-accounts

INTERNATIONAL PRAISE CENTRE

ACCOUNTS

31 MARCH 2021

Charity Number 1149959

INTERNATIONAL PRAISE CENTRE

ACCOUNTS

YEAR ENDED 31 MARCH 2021

CONTENTS PAGE
Trustees' annual report 3
Independent examiner's report to the trustees 10
Statement of financial activities 11
Income and expenditure account 12
Balance sheet 13
Notes to the accounts 14

INTERNATIONAL PRAISE CENTRE

TRUSTEES' ANNUAL REPORT (continued)

YEAR ENDED 31 MARCH 2021

The trustees present their report and the unaudited accounts of the charity for the year ended 31 March 2021.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered office

International Praise Centre The Wakefield 72 Katherine Rd East Ham London UK E6 1EN

Trustees

The trustees who served the charity during the period were as follows:

Mr. Ernest Atta-Antwi Mrs Gertrude Halm-Adjepong Mr John A Nkansah -Manu Mr Kweku Adjepong Rev. Claude Halm-Adjepong

Independent Examiners

KBNG Accountants & Business Advisors Sharond Sandhurst Road Tilbury, Essex. RM18 8DH

Bankers

Barclays Bank Plc 98 High Road Ilford, Essex. IG1 1DE

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INTERNATIONAL PRAISE CENTRE

TRUSTEES' ANNUAL REPORT (continued)

YEAR ENDED 31 MARCH 2021

STRUCTURE, GOVERNANCE AND MANAGEMENT

Background International Praise Centre (IPC) is a faith-based organisation and a UK charity registered in 2012. In January 2019, the structure of the organisation was changed to Charitable Incorporated organisation (CIO). The object of the charity as set out in the governing document is:

CHARITABLE OBJECT

The principal purpose of the church is the advancement and nurturing of Christian Faith and values amongst members of the church and amongst our neighbours. We aim to show the love of Christ in word and deed, and to bring people into a closer relationship with God, Father, Son and Holy Spirit. This includes the provision and support of community services and other general charitable purposes in the United Kingdom and abroad.

ORGANISATIONAL STRUCTURE AND DECISION MAKING PROCESS

The church was formed in 2012 and is a member Church of London Baptists and the Baptist Union of Great Britain. On the 13[th] day of December 2020, the members of the Church passed a resolution to join with Aldersbrook Baptist Church to become an amalgamated Baptist Church. The church is currently working with the London Baptists and Baptist Union of Great Britain on a new organisational structure and to adopt the constitution of the Baptist Union of Great Britain.

Membership of the church is by one of the following paths:

Councillors are appointed from among the members.

The Minister and the Council are the church’s trustees and are responsible for the overall work and witness of the church as well as the financial and legal aspects of the charity.

The secretary and treasurer are appointed from the members.

Matters may be referred to the Church Meeting by the Council, or the Church Meeting may ask the Council to consider particular matters in detail and report back to the meeting. The Church Meeting is the forum for taking decisions regarding the work of the church and may be advised and guided by the Council.

All members are encouraged to take part in both the spiritual and practical work of the church. Members meetings take place about six times a year, following a Sunday morning service.

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INTERNATIONAL PRAISE CENTRE

TRUSTEES' ANNUAL REPORT (continued)

YEAR ENDED 31 MARCH 2021

RESPONSIBILITIES OF THE TRUSTEES

The trustees are responsible for preparing the Trustees Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Laws applicable to Charities in England and Wales requires trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure for that period.

In preparing these financial statements, the trustees are required to:

· select suitable accounting policies and then apply them consistently;

· observe the methods and principles in the Charities SORP;

· make judgements and estimates that are reasonable and prudent;

· state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;

· prepare the financial statements on the 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 that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with Charities Acts 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.

Trustee Induction and Training

New trustees undergo orientation where they are briefed on their legal obligations under Charity Law, the content of the constitution and the processes on decision making within the organisation. The Charity encourages trustees to attend, at their discretion; appropriate external training events were these will be of use for the undertaking of the role.

GOVERNING DOCUMENT

The Charity is governed CIO Association constitution adopted on 17 January 2019. There are no restrictions in the governing documents on the operation of the charity or on its investment powers other than those imposed by general charity Law.

SAFEGUARDING

The Church undertakes Disclosure and Barring Service checks for all people working with children. We currently have no activities for vulnerable adults. Our member Dawn Gibbs oversees the DBS checks.

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INTERNATIONAL PRAISE CENTRE

TRUSTEES' ANNUAL REPORT (continued)

YEAR ENDED 31 MARCH 2021

RISKMANAGEMENT

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. The board of trustees actively review the major risks facing the charity on a regular basis and ensure measures are put in place to safeguard the charity's fund and assets. The trustees also ensure that legal advice is sought, when necessary, on crucial issues concerning the ministry.

OBJECTIVES AND ACTIVITIES

The Church Mission statement states that the ‘Church is the focus of our worship and fellowship’, and that ‘according to Christ’s command to teach all nations, we undertake particular responsibility to serve our own neighbourhood.’

The Church undertakes several activities in keeping with its charitable objective.

Central to our work and witness is the holding of regular public services of Christian worship, each Sunday.

We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities.

The vision of the church is the "Transformation, Restoration and Elevation of individual lives and to make them better for their communities and for God’s kingdom”. To help achieve this, the following objectives have been set:

Ongoing activities

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INTERNATIONAL PRAISE CENTRE

TRUSTEES' ANNUAL REPORT (continued)

YEAR ENDED 31 MARCH 2021

PUBLIC BENEFIT - MINISTRY OUTREACH AND BENEFITS

• The church's activities are available to Christians and non-Christians, members, and non-members alike; there is no restriction to attendance. The community have been attracted to and enjoyed our weekly services, conferences, and programmes. During the year under review, various live changing conferences were held where participants were challenged to make a difference in their environment.

• Seeking new followers or adherent - The members in general and the Evangelism team regularly go out to preach the Gospel in different locations and areas.

• We also aid the local community by providing carrier counselling, pre-and post-marital counselling, bereavement counselling, hospital visits, prison visits, welfare provision, prayer support, men and women's meetings and supporting local charities.

ACHIEVEMENT AND PERFORMANCE

Although the year 2021 was affected in several ways by the Covid 19 pandemic, the church continued to grow from strength and strength and had several remarkable achievements. The Church took over the use of the Church buildings of Aldersbrook Baptist Church, which are currently held in trust by the London Baptist Property Board (LBPB). The buildings included the Church building at 2-4 Dover Road, Wanstead, London E12 5EA and a manse. All the buildings are in a poor state of disrepair. The church started refurbishment works on all the buildings and have engaged BAART HARRIES NEWALL ARCHITECTS as project managers.

During the summer and Christmas school holidays, the Church worked in partnership with the London Borough of Newham and Sparkles Day Nursery to deliver the Holiday activity and Food programme for vulnerable children and families in Eastham who suffer food insecurity.

International Praise Centre is still actively supporting Sparkles Day Nursery to provide childcare to young children in the Eastham community. Most of the children receive free and quality affordable childcare from the current church premises 7am to 5pm from Monday to Friday.

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INTERNATIONAL PRAISE CENTRE

TRUSTEES' ANNUAL REPORT (continued)

YEAR ENDED 31 MARCH 2021

Volunteers

Members of the charity who are professionals in their various field of work and study volunteered in different capacities during the year under review and their work has not been quantified. We currently have 4 people working as regular volunteers for up to twenty hours a week. Although they do not receive wages, the church pays for the expenses of volunteers.

FINANCIAL REVIEW

The full financial Statement for 2021 is attached.

The church continued to raise the funds which it needs to carry on its activities from within its own membership and congregation, and by occasionally letting the hall to other community groups.

The Church expressed its commitment to charity and benevolence by contributing to several organisations with Christian aims and objectives, detailed in Notes to the Financial Statement.

The Church is very dependent on, and very grateful for, the voluntary work undertaken by many church members in all aspects of church life. (Refer to section on volunteers).

The Trustees are satisfied that they have sufficient funds, together with anticipated income for the coming year, to function effectively through 2020. However, the church will not be able to carry its current financial commitment indefinitely without an increase in earning and/or giving. This will be addressed in 2022.

It must also be noted, however, that the Coronavirus pandemic from 2019 to present has had a significant impact on our church, as on all churches. The Lockdowns and limited gatherings imposed by government restricted our services and activities in 2021. This impacted on offerings and donations from members. The Trustees have assessed the major risks facing the church and are satisfied that there are policies in place to minimise these risks, including appropriate PL and EL insurance.

PLANS FOR FUTURE PERIODS

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INTERNATIONAL PRAISE CENTRE

TRUSTEES' ANNUAL REPORT (continued)

YEAR ENDED 31 MARCH 2021

Signed by order of the trustees

REVD DR. CLAUDE HALM-ADJEPONG

Trustee

Date: 22 January 2022

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INTERNATIONAL PRAISE CENTRE

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF INTERNATIONAL PRAISE CENTRE (continued)

YEAR ENDED 31 MARCH 2021

I report on the accounts of the charity for the year ended 31 March 2021 which are set out on pages 11 to 17.

RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER

The trustees are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.

Having satisfied myself that the charity is not subject to audit and is eligible for independent examination, it is my responsibility to:

BASIS OF INDEPENDENT EXAMINER'S REPORT

My examination was carried out in accordance with the general Directions given by the Charity Commission. 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 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 matter has come to my attention:

(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Kofi Boahene FCCA, MBA Independent examiner KBNG Accountants & Business Advisors Sharond, Sandhurst Road. Tilbury, Essex RM18 8DH

Date: 25 January 2022

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INTERNATIONAL PRAISE CENTRE

STATEMENT OF FINANCIAL ACTIVITIES

YEAR ENDED 31 MARCH 2021

Total Funds Total Funds
2021 2020
Note
£		 £
INCOMING RESOURCES
Incoming resources from generating funds:
Voluntary income 2 120,078 153,171
Investment income 3 9 12
------------------------------------- -------------------------------------
TOTAL INCOMING RESOURCES 120,087 153,183
------------------------------------- -------------------------------------
RESOURCES EXPENDED
Charitable activities 4/5 (122,991) (143,370)
Governance costs 6 1,824 (16,997)
------------------------------------- -------------------------------------
TOTAL RESOURCES EXPENDED (121,167) (160,367)
------------------------------------- -------------------------------------
NET OUTGOING RESOURCES FOR THE YEAR 7 (1,080) (7,184)
RECONCILIATION OF FUNDS
Total funds brought forward 11,003 18,187
------------------------------- -------------------------------
TOTAL FUNDS CARRIED FORWARD 9,923 11,003
================ ================

All of the above amounts relate to continuing activities.

The notes on pages 14 to Error! Bookmark not defined. form part of these accounts.

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INTERNATIONAL PRAISE CENTRE

INCOME AND EXPENDITURE ACCOUNT

YEAR ENDED 31 MARCH 2021

2021 2020
Note £ £ £
INCOME 120,078 153,171
TOTAL EXPENDITURE (121,061) (160,367)
------------------------------------- -------------------------------------
OPERATING DEFICIENCY 7 (983) (7,196)
OTHER INCOME
Interest receivable and similar income 3 9 12
---------------- --------------------------
(974) (7,184)
INTEREST PAYABLE
Interest payable (106) –
-------------------------- --------------------------
DEFICIT FOR THE FINANCIAL YEAR (1,080) (7,184)
============== ==============

All of the above amounts relate to continuing activities.

The notes on pages 14 to Error! Bookmark not defined. form part of these accounts.

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INTERNATIONAL PRAISE CENTRE

BALANCE SHEET

31 MARCH 2021

2021 2020
Note £ £ £
FIXED ASSETS
Tangible assets 9 45,211 48,881
CURRENT ASSETS
Cash at bank 6,612 3,622
CREDITORS: Amounts falling due within one year 10 (1,900) (1,500)
-------------------------- --------------------------
NET CURRENT ASSETS 4,712 2,122
------------------------------- -------------------------------
TOTAL ASSETS LESS CURRENT LIABILITIES 49,923 51,003
CREDITORS: Amounts falling due after more than
one year 11 (40,000) (40,000)
------------------------------- -------------------------------
NET ASSETS 9,923 11,003
================ ================
FUNDS
Unrestricted income funds 12 9,923 11,003
-------------------------- -------------------------------
TOTAL FUNDS 9,923 11,003
============== ================

The notes on pages 14 to Error! Bookmark not defined. form part of these accounts.

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INTERNATIONAL PRAISE CENTRE

NOTES TO THE ACCOUNTS

YEAR ENDED 31 MARCH 2021

1. ACCOUNTING POLICIES

1.1 Basis of accounting

The financial statements have been prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards, the Statement of Recommended Practice "Accounting and Reporting by Charities" issued in March 2005 (SORP 2005)

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. Voluntary income is received by way of donations, offerings and tithes and is included in full in the statement of financial activities when receivable.

1.3 Resources expended

Expenditure is recognised on an accrual basis as a liability is incurred. Costs of generating funds comprise the costs associated with attracting voluntary income. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Fixed assets

All fixed assets are initially recorded at cost.

Depreciation

Depreciation is calculated to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Equipment - 25% reducing balance.

2. VOLUNTARY INCOME

Unrestricted Total Funds Total Funds
Funds 2021 2020
£ £ £
Donations
Tithes & Offering 74,140 74,140 68,718
Gift Aid 11,188 11,188 37,252
Other Income 34,750 34,750 47,201
------------------------------------- ------------------------------------- -------------------------------------
120,078 120,078 153,171
=================== =================== ===================

3. INVESTMENT INCOME

Unrestricted Total Funds Total Funds
Funds 2021 2020
£ £ £
Bank interest receivable 9 9 12
========= ========= ========

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INTERNATIONAL PRAISE CENTRE

NOTES TO THE ACCOUNTS

YEAR ENDED 31 MARCH 2021

4. COSTS OF CHARITABLE ACTIVITIES BY FUND TYPE

Unrestricted Total Funds Total Funds
Funds 2021 2020
£ £ £
Rent 98,131 98,131 98,286
Honorarium – – 4,600
Pastoral & Members Welfare 3,200 3,200 1,100
Ministerial & Mission House 4,500 4,500 3,100
Printing, Postage and Stationery – – 400
Premises Expenses 2,700 2,700 3,100
Services & Ministry Expenses 4,384 4,384 10,702
Utilities 7,854 7,854 10,022
Missions & Outreach 1,800 1,800 7,508
Miscellaneous Motor Expenses 173 173 3,950
Subscriptions 249 249 602
------------------------------------- ------------------------------------- -------------------------------------
122,991 122,991 143,370
=================== =================== ===================
5. COSTS OF CHARITABLE ACTIVITIES BY ACTIVITY TYPE
Activities
undertaken Total Funds Total Funds
directly 2021 2020
£ £ £
Rent 98,131 98,131 98,286
Honorarium – – 4,600
Pastoral & Members Welfare 3,200 3,200 1,100
Ministerial & Mission House 4,500 4,500 3,100
Printing, Postage and Stationery – – 400
Premises Expenses 2,700 2,700 3,100
Services & Ministry Expenses 4,384 4,384 10,702
Utilities 7,854 7,854 10,022
Missions & Outreach 1,800 1,800 7,508
Miscellaneous Motor Expenses 173 173 3,950
Subscriptions 249 249 602
------------------------------------- ------------------------------------- -------------------------------------
122,991 122,991 143,370
=================== =================== ===================

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INTERNATIONAL PRAISE CENTRE

NOTES TO THE ACCOUNTS

YEAR ENDED 31 MARCH 2021

6. GOVERNANCE COSTS

Unrestricted Total Funds Total Funds
Funds 2021 2020
£ £ £
Salaries and wages 3,063 3,063 –
Professional Fees 1,899 1,899 1,500
Telephone 1,427 1,427 3,508
Interest payable 106 106 –
Bank Charges 1,051 1,051 1,129
Depreciation (9,370) (9,370) 10,860
-------------------------- -------------------------- -------------------------------
(1,824) (1,824) 16,997
============== ============== ================
7. NET OUTGOING RESOURCES FOR THE YEAR
This is stated after charging/(crediting):
2021 2020
£ £
Depreciation (9,370) 10,860
============== ================
8. STAFF COSTS AND EMOLUMENTS
Total staff costs were as follows:
2021 2020
£ £
Wages and salaries 3,063 –
Social security costs – –
-------------------------- ----------------
3,063 –
============== ========
Particulars of employees:
The average number of employees during the year, was as follows:
2021 2020
1 -.

No employee received remuneration of more than £60,000 during the year (2020 - Nil).

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INTERNATIONAL PRAISE CENTRE

NOTES TO THE ACCOUNTS

YEAR ENDED 31 MARCH 2021

9. TANGIBLE FIXED ASSETS

Equipment
£
COST
At 1 April 2020 77,485
Additions 11,400
-------------------------------
At 31 March 2021 88,885
================
DEPRECIATION
At 1 April 2020 28,604
Charge for the year 15,070
-------------------------------
At 31 March 2021 43,674
================
NET BOOK VALUE
At 31 March 2021 45,211
================
At 31 March 2020 48,881
================
10. CREDITORS: Amounts falling due within one year
2021 2020
£ £
Accruals and deferred income 1,900 1,500
============== ==============
11. CREDITORS: Amounts falling due after more than one year
2021 2020
£ £
Bank loans and overdrafts 40,000 40,000
================ ================
12. UNRESTRICTED INCOME FUNDS
Balance at Incoming Balance at
1 April 2020 resources
31		 March 2021
£ £ £
General Funds 11,003 (1,080) 9,923
================ ============== ==============
13. ANALYSIS OF NET ASSETS BETWEEN FUNDS
Tangible Net current
Long term
fixed assets assets
liabilities		 Total
£ £ £ £
Unrestricted Income Funds 45,211 4,712
(40,000)		 9,923
------------------------------- -------------------------- ------------------------------- --------------------------
Total Funds 45,211 4,712
(40,000)		 9,923
================ ============== ================ ==============

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