OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2022-03-31-accounts

INTERNATIONAL PRAISE CENTRE

ACCOUNTS

31 MARCH 2022

Charity Number 1181613

INTERNATIONAL PRAISE CENTRE

ACCOUNTS

YEAR ENDED 31 MARCH 2022

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 2022

The trustees present their report and the unaudited accounts of the charity for the year ended 31 March 2022.

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 Esther Frimpomaa Rev Yaw Sarpong 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

- 3 -

INTERNATIONAL PRAISE CENTRE

TRUSTEES' ANNUAL REPORT (continued)

YEAR ENDED 31 MARCH 2022

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).

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.

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.

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.

CHARITABLE OBJECT

The object of the charity as set out in the governing document is:

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.

- 4 -

INTERNATIONAL PRAISE CENTRE

TRUSTEES' ANNUAL REPORT (continued)

YEAR ENDED 31 MARCH 2022

• The furtherance of charity work of the charity by the advancement of such other charitable purposes as the trustees shall from time to time decide.

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.

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.

- 5 -

INTERNATIONAL PRAISE CENTRE

TRUSTEES' ANNUAL REPORT (continued)

YEAR ENDED 31 MARCH 2022

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:

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.

- 6 -

INTERNATIONAL PRAISE CENTRE

TRUSTEES' ANNUAL REPORT (continued)

YEAR ENDED 31 MARCH 2022

• 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

This past year of operations has been great for us at International Praise Centre. We emphasised expanding our work to not just impact those within the organisation but pushing our boundaries to help and support more people in our immediate and wider community. Our drive for the year was to encourage the community to aspire to be and do more, causing a cross-generational and international impact on many lives.

In line with the vision of the organisation, inspiring younger generations to live for purpose, we aspired to ensure that the young people were well-engaged and active. We started engaging them by taking 30 young people away on a retreat during the easter holiday to help them understand themselves more and become stronger in their faith. They were greatly encouraged and desired to be more involved in ongoing work for the rest of the community.

This was in the form of a summer and winter holiday program that we hosted for over 150 young people in the Newham area. We partnered with Sparkles Day Nursery and Newham Council to gather and provide food for young people that came from homes where access to adequate meals was a daily struggle. This was an initiative offered to us by the council as a result of Marcus Rashford lobbying the UK government to expand their free meals provision programme for underprivileged children beyond the school term time to the holidays. As inadequacy of food was the main criterion for registration, the children would come to our centres daily for breakfast and a hot meal. We also engaged them in recreational and educational activities like football, basketball, boxing, arts & crafts, drama, daily reflections, healthy food making and many others. Both the summer and winter activities were a great success with help from many volunteers and staff members.

Following the great reception we received from the community for the summer programme, we decided to have a community barbeque to get more in touch with the people around the church, and to understand more of their needs and how we can support them. For the kids, we had a bouncy castle, face painting, football, and other activities, along with a large variety of food in order for everyone to relax and enjoy socialising as a community.

Whilst working with the young people over the summer holiday, we realised a great necessity for greater support in schools and sharing our faith with the younger generations. So, we partnered with Christian Education Project to help them in their mission to share the faith in schools and support young people struggling to express themselves. The work is still ongoing, and we do not intend to stop this partnership because we believe that many young people are being positively impacted by the work of the Christian Education Project and we want to help where we can.

We were also able to push our work across the oceans into Ghana and South Sudan, where we established mission hubs for us to do some work in those countries for people greatly affected by the ever-worsening cost of living crisis. We formed good relationships with local organisations who were

- 7 -

INTERNATIONAL PRAISE CENTRE

TRUSTEES' ANNUAL REPORT (continued)

YEAR ENDED 31 MARCH 2022

already working on the ground; we currently offer monthly support to them and occasionally send a volunteer missionary to work with them. This step into other countries, we believe, will continue, so

we can inspire people to be and do more. We have even offered two one-year intern opportunities for gifted individuals from Ghana; one of them has recently joined us and we hope the other one can make the trip over in the near future. They are learning and growing and aspire to go back to their home countries and be the change their communities need.

Throughout the year we held, in total, four statement events for various reasons, in line with our annual drive:

  1. Soul’d Out – An event for young creatives in any field to have a platform to express their work boldly.

  2. One Love Concert – An event that encouraged unity and love for people of diverse backgrounds and walks of life.

  3. Kingdom Now – A three-day conference that was geared towards helping people understand the purpose and vision for their life.

  4. 21 Days of Increase – This was a month of daily meetings for inspiration and motivation for people to grow, increase, and push themselves beyond their limitations.

These events were supported by our ‘small groups’ initiative that encourages a smaller and more intimate community within the larger church body for facilitating a more effective direct support and pastoral care for members. Everyone who signed up to be a part of the church was assigned to a small group so they could be supported in their growth and journey within the church.

Since last year’s report, there have been amazing advancements in the building project we embarked on following the amalgamation with Aldersbrook Baptist Church. During this reporting period, we were able to complete the majority of external works, including the roof, pointing and spire. We have invested a substantial amount into the project, and we are embarking on an agreement with London Baptist Association for a loan to complete the remaining works on the building.

Overall, the year has been eventful and exciting for us. We had many testimonials about how the work we were doing had impacted not just the members of the church but also our local communities, and several people globally. We intend to grow and keep pushing our boundaries to help and support more people.

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

Please refer to the annexed accounts for the details of the financial statements for the year ended 31 March 2022.

During the year significant renovation works were carried out on our Alderbrook property and Minister’s Manse.

- 8 -

INTERNATIONAL PRAISE CENTRE

TRUSTEES' ANNUAL REPORT (continued)

YEAR ENDED 31 MARCH 2022

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.

PLANS FOR FUTURE PERIODS

Signed by order of the trustees

REVD DR. CLAUDE HALM-ADJEPONG

Trustee

Date: 22 January 2023

- 9 -

INTERNATIONAL PRAISE CENTRE

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

YEAR ENDED 31 MARCH 2022

I report on the accounts of the charity for the year ended 31 March 2022 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 under company law 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:

(1) which gives me reasonable cause to believe that in any material respect the requirements:

have not been met; or

(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: 26 January 2023

- 10 -

INTERNATIONAL PRAISE CENTRE

STATEMENT OF FINANCIAL ACTIVITIES

YEAR ENDED 31 MARCH 2022

Total Funds Total Funds
2022 2021
Note
£		 £
INCOMING RESOURCES
Incoming resources from generating funds:
Voluntary income 2 222,020 120,078
Investment income 3 87 9
------------------------------------- -------------------------------------
TOTAL INCOMING RESOURCES 222,107 120,087
------------------------------------- -------------------------------------
RESOURCES EXPENDED
Charitable activities 4/5 (115,451) (122,991)
Governance costs 6 (28,168) 1,824
------------------------------------- -------------------------------------
TOTAL RESOURCES EXPENDED (143,619) (121,167)
------------------------------------- -------------------------------------
NET INCOMING/(OUTGOING) RESOURCES FOR THE YEAR 7 78,488 (1,080)
RECONCILIATION OF FUNDS
Total funds brought forward 9,923 11,003
------------------------------- -------------------------------
TOTAL FUNDS CARRIED FORWARD 88,411 9,923
================ ================

All of the above amounts relate to continuing activities.

The notes on pages 14 to 17 form part of these accounts.

- 11 -

INTERNATIONAL PRAISE CENTRE

INCOME AND EXPENDITURE ACCOUNT

YEAR ENDED 31 MARCH 2022

2022 2021
Note £ £ £
INCOME 222,020 120,078
TOTAL EXPENDITURE (143,446) (121,061)
------------------------------------- -------------------------------------
OPERATING SURPLUS/(DEFICIENCY) 7 78,574 (983)
OTHER INCOME
Interest receivable and similar income 3 87 9
------------------------------- ----------------
78,661 (974)
INTEREST PAYABLE
Interest payable (173) (106)
------------------------------- --------------------------
RETAINED SURPLUS/(DEFICIT) FOR THE FINANCIAL YEAR 78,488 (1,080)
================ ==============

All of the above amounts relate to continuing activities.

The notes on pages 14 to 17 form part of these accounts.

- 12 -

INTERNATIONAL PRAISE CENTRE

BALANCE SHEET

31 MARCH 2022

2022 2021
Note £ £ £
FIXED ASSETS
Tangible assets 9 173,315 45,211
CURRENT ASSETS
Cash at bank 5,877 6,612
CREDITORS: Amounts falling due within one year 10 (76,700) (1,900)
------------------------------- --------------------------
NET CURRENT (LIABILITIES)/ASSETS (70,823) 4,712
------------------------------------- -------------------------------
TOTAL ASSETS LESS CURRENT LIABILITIES 102,492 49,923
CREDITORS: Amounts falling due after more than
one year 11 (14,081) (40,000)
------------------------------------- -------------------------------
NET ASSETS 88,411 9,923
=================== ================
FUNDS
Unrestricted income funds 12 88,411 9,923
------------------------------- --------------------------
TOTAL FUNDS 88,411 9,923
================ ==============

The notes on pages 14 to 17 form part of these accounts.

- 13 -

INTERNATIONAL PRAISE CENTRE

NOTES TO THE ACCOUNTS

YEAR ENDED 31 MARCH 2022

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 2022 2021
£ £ £
Donations
Tithe & Offering 46,757 46,757 74,140
Gift Aid 31,004 31,004 11,188
Other Income 132,259 132,259 34,750
Grants receivable
Grants receivable 12,000 12,000 –
------------------------------------- ------------------------------------- -------------------------------------
222,020 222,020 120,078
=================== =================== ===================
3. INVESTMENT INCOME
Unrestricted Total Funds Total Funds
Funds 2022 2021
£ £ £
Bank interest receivable 87 87 9
========= ========= ========

- 14 -

INTERNATIONAL PRAISE CENTRE

NOTES TO THE ACCOUNTS

YEAR ENDED 31 MARCH 2022

4. COSTS OF CHARITABLE ACTIVITIES BY FUND TYPE

Unrestricted Total Funds Total Funds
Funds 2022 2021
£ £ £
Rent 47,899 47,899 98,131
Honorarium 1,000 1,000 –
Pastoral & Members Welfare 24,070 24,070 3,200
Ministerial & Mission House – – 4,500
Printing, Postage and Stationery 2,700 2,700 –
Premises Expenses 774 774 2,700
Services & Ministry Expenses 16,940 16,940 4,384
Utilities 6,568 6,568 7,854
Missions & Outreach 14,472 14,472 1,800
Miscellaneous Motor Expenses – – 173
Subscriptions 1,028 1,028 249
------------------------------------- ------------------------------------- -------------------------------------
115,451 115,451 122,991
=================== =================== ===================
5. COSTS OF CHARITABLE ACTIVITIES BY ACTIVITY TYPE
Activities
undertaken Total Funds Total Funds
directly 2022 2021
£ £ £
Rent 47,899 47,899 98,131
Honorarium 1,000 1,000 –
Pastoral & Members Welfare 24,070 24,070 3,200
Ministerial & Mission House – – 4,500
Printing, Postage and Stationery 2,700 2,700 –
Premises Expenses 774 774 2,700
Services & Ministry Expenses 16,940 16,940 4,384
Utilities 6,568 6,568 7,854
Missions & Outreach 14,472 14,472 1,800
Miscellaneous Motor Expenses – – 173
Subscriptions 1,028 1,028 249
------------------------------------- ------------------------------------- -------------------------------------
115,451 115,451 122,991
=================== =================== ===================

- 15 -

INTERNATIONAL PRAISE CENTRE

NOTES TO THE ACCOUNTS

YEAR ENDED 31 MARCH 2022

6. GOVERNANCE COSTS

Unrestricted Total Funds Total Funds
Funds 2022 2021
£ £ £
Salaries and wages 12,000 12,000 3,063
Professional Fees 2,700 2,700 1,899
Telephone 964 964 1,427
Interest payable 173 173 106
Bank Charges 1,028 1,028 1,051
Depreciation 11,303 11,303 (9,370)
------------------------------- ------------------------------- --------------------------
28,168 28,168 (1,824)
================ ================ ==============
7. NET INCOMING/(OUTGOING) RESOURCES FOR THE YEAR
This is stated after charging/(crediting):
2022 2021
£ £
Depreciation 11,303 (9,370)
================ ==============
8. STAFF COSTS AND EMOLUMENTS
Total staff costs were as follows:
2022 2021
£ £
Wages and salaries 12,000 3,063
Social security costs – –
------------------------------- --------------------------
12,000 3,063
================ ==============
Particulars of employees:
The average number of employees during the year, was as follows:
2022 2021
No. No.
1 1

No employee received remuneration of more than £60,000 during the year (2021 - Nil).

- 16 -

INTERNATIONAL PRAISE CENTRE

NOTES TO THE ACCOUNTS

YEAR ENDED 31 MARCH 2022

9. TANGIBLE FIXED ASSETS

Freehold Freehold
property Equipment Total
£ £ £
COST
At 1 April 2021 and 31 March 2022 139,407 88,885 228,292
=================== ================ ===================
DEPRECIATION
At 1 April 2021 – 43,674 43,674
Charge for the year – 11,303 11,303
---------------- ------------------------------- -------------------------------
At 31 March 2022 – 54,977 54,977
========= ================ ================
NET BOOK VALUE
At 31 March 2022 139,407 33,908 173,315
=================== ================ ===================
At 31 March 2021 139,407 45,211 184,618
=================== ================ ===================
10. CREDITORS: Amounts falling due within one year
2022 2021
£ £
Accruals and deferred income 76,700 1,900
================ ==============
11. CREDITORS: Amounts falling due after more than one year
2022 2021
£ £
Bank loans and overdrafts 14,081 40,000
================ ================
12. UNRESTRICTED INCOME FUNDS
Balance at Incoming Balance at
1 April 2021
resources
31		 March 2022
£ £ £
General Funds 9,923 78,488 88,411
============== ================ ================
13. ANALYSIS OF NET ASSETS BETWEEN FUNDS
Tangible
Net		 current Long term
fixed assets
liabilities		 liabilities Total
£ £ £ £
Unrestricted Income Funds 173,315 (70,823)
(14,081)		 88,411
------------------------------------- ------------------------------- ------------------------------- -------------------------------
Total Funds 173,315 (70,823)
(14,081)		 88,411
=================== ================ ================ ================

- 17 -