PRESBYTERIAN CHURCH OF GHANA, MIDLANDS DISTRICT
MILTON KEYNES CONGREGATION
TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
CHARITY NO
1184772
Presbyterian Church of Ghana, Midlands District - Milton Keynes congregation (UK)
Contents of the Financial Statements Year ended 31 December 2022
||Page|
|---|---|
|Trustees' Report|1 - 2|
|Independent Examiner's Report|3 - 4|
|Statement of Financial Activities|5|
|Balance Sheet|6|
|Notes to the Financial Statements|7 - 9|
Presbyterian Church of Ghana, Midlands District - Milton Keynes congregation (UK)
Trustees' report for the year ended 31 December 2022
The trustees present their report and unaudited financial statements of the church for the year ended 31 December 2021. The trustees have adopted the provisions of the Statement of Recommended Practice: "Accounting and Reporting by Charities" in accordance with Financial Reporting Standard applicable in the UK and the Republic of Ireland (FRS102) issued in July 2014 in preparing the Annual Report and the Financial Statements of the church
## Legal Status
Presbyterian Church of Ghana, Milton Keynes Congregation (UK) is a member of Presbyterian Church of Ghana, Midlands District, a charity incorporated organisation registered on 5th August 2019 with registration number 1184772
Principal Activities
The principal activities of the church during the period were as follows:
To advance the Christian religion and the ethics, ideals and principles of the Presbyterian church for the public benefit
To provide advice, counselling and support for members training and education for the relief of poverty
The advancement of education and the provision of facilities for recreation and leisure time occupation in the interest of social welfare and with the object of improving the conditions of the members and their children
## Review of Financial Activities
the net incoming resources of the church for the year ended 31 December 2022 amounted to-£15976 (2021 £2593)
It is the policy of the trustees that the reserves of the church, which are all made up of unrestricted funds, should be held as current assets in order to meet the future requirements of its activities.
At 31 December 2022 reserves of the church were £114319 (2021 £130594).
Page 1
Presbyterian Church of Ghana, Midlands District - Milton Keynes congregation (UK) Trustees' report for the year ended 31 December 2021(Continued)
## Trustees
The trustees who served during the period to the date of this report were:
CHAIRPERSON JAMES EDJEKOOMHENE TREASURER OWUSU KYEREMATENG MEMBER ADELAIDE ATU MEMBER REV. JOSEPH AKWASI ODURO
Statement of Trustees Responsibilities in Relation to the Financial Statements
The constitution of the church and law applicable to Charities in England and Wales require the trustees to prepare financial statements for each financial year which give a true and fair view of the financial activities of the charity during the year and of its financial position at the end of each year. In preparing the financial statements, the trustees are required to:
- 1) select suitable accounting policies and apply them consistently;
- 2) observe the methods and principles in the Charities SORP;
- 3) make judgements and estimates that are reasonable and prudent;
- 4) 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 which disclose with reasonable accuracy at any time the financial position of the church and enable them to ensure ensure that financial statements comply with the Charities Act 2011.
The trustees are also responsible for safeguarding the assets of the church and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
## APPROVED BY THE TRUSTEES AND SIGNED ON THEIR BEHALF:
Date: 15th January 2023
Page 2
Presbyterian Church of Ghana, Midlands District - Milton Keynes congregation (UK) Independent Examiners Report to the trustees
We have examined the financial statements for the year ended 31 December 2022 on pages 5 to 9, which have been prepared in accordance with the accounting policies set out on page 7
Respective responsibilities of Trustees and Independent Examiner
As described on page 2, the trustees are responsible for the preparation of the financial statements of the church. The trustees consider that an audit is not required for this period under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is our responsibility to:
examine the financial statements under section 145 of the 2011 Act;
follow the procedures laid down in the General Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
state whether particular matters have come to our attention.
We have been appointed under section 145 of the Charities Act 2011 and report in accordance with the regulations under that Act.
Basis of independent examiner's report
We conducted our examination 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 financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements and the seeking of explanations from the trustees concerning such matters. The procedures undertaken do not provide all of the evidence that would be required by an audit and, consequently, no opinion is given as to whether the financial statements present a 'true & fair view' and the report is limited to those matters set out in the statement below.
Independent examiner's statement
During the course of our examination, nothing has come to our attention which gives us reasonable cause to believe that, in any material respect, the trustees have not met the requirements to ensure that:
a) proper accounting records have been kept in accordance with Section 130 of the Charities Act 2011; and
Page 3
Independent Examiners Report to the trustees (Continued)
b) the financial statements for the year ended 31 December 2022 are in accordance with those records and comply with the accounting requirements of Charity Act 2011 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities (revised 2014).
Further, during the course of our examination, nothing has come to our attention that, in our opinion, should be drawn to your attention in order to enable a proper understanding of the financial statements to be reached.
Signed:.............................................. Date: 31st January 2023 Kofi Asiamah FCCA
Chartered Certified Accountants Unit 92 Battersea Buss Centre London SW11 5Q
Page 4
Presbyterian Church of Ghana, Midlands District - Milton Keynes congregation (UK) Statement of Financial Activities
For the year ended 31 December 2022
Year ended 2022 Year ended 2021
|Unrestricted funds
Notes
2022
Incoming resources
72528
Voluntary income
2
Gift aid
2
9515
Investment income
2
10
Total incoming resources
82053
Resources expended
Charitable activities
3
0
Administrative expenses
4
98029
Total resources expended
98029
Net incoming resources for the year
-15976
Funds brought forward
130295
prior year adjustment
Total funds carried forward
114319|2021
34409
0
6261
12
40682
0
38089
38089
0
0
2593
0
127702|2021
34409
0
6261
12
40682|2021|
|---|---|---|---|
||130295|||
The notes form part of these financial statements
Page 5
Presbyterian Church of Ghana, Midlands' District - Milton Keynes congregation (UK)
|Balance Sheet
At 31 December 2022
Notes
Fixed Assets
5
Freehold Property
Tangible fixed asset
Current Assets
other debtors
6
Cash at bank and in ha
7
Total current assets
Current Liabilities
Creditors
8
Net Current Asset
Amount falling due more than 1year
Total Net Assets
Funds
Unrestricted funds
9
Total funds|2022
386,620
0
620
620
11724
-11,104
261,197
114,319
114,319
114,319|2021
0
700
0
135134|
|---|---|---|
|||135834
950
134884
0
134884|
|||134884
134884|
## APPROVED BY THE TRUSTEES AND SIGNED ON THEIR BEHALF:
…............................................................
The notes form part of these financial statements
Page 6
Presbyterian Church of Ghana, Midlands District - Milton Keynes congregation (UK)
Notes to the financial statements for the year ended 31 December 2022
## 1 ACCOUNTING POLICIES
## Basis of accounting
The financial statements have been prepared in accordance with the Statement of Recommended Practice : Accounting and Reporting by Charities in accordance with with Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in July 2014
## Accounting convention
The financial statements have been prepared under the historical cost convention
## Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:
## Computer equipment : written off in the year of purchase
Musical instrument : written off in the year of purchase.
## Cash flow statement
Exemption has been taken from preparing a cash flow statement on the grounds that the charity is a small undertaking
## Incoming resources
Incoming resources represent offertory, pledges, donations, tithes and self generated income
## Reserve policy
The trustees have a free reserve policy whereby the free reserves of the church will be sufficient to continue the current activities should there be a significant fall in offertory levels. This will need to be sufficient to sustain the church whilst alternate funding is sought or other arrangements are made.
2 Voluntary income
|arrangements are made.
2 Voluntary income|||
|---|---|---|
||2022|2021|
|General offering|14122|6415|
|Tithes|29648|21579|
|Harvest|17527|4969|
|Thanks Giving|2290|1085|
|Donation|7475|60|
|Gift Aid|9515|6261|
|Sundry|1467|0|
|Bank Interest|10|12|
||82053|40382|
Page 7
Presbyterian Church of Ghana, Midlands District - Milton Keynes congregation (UK)
Notes to the financial statements for the year ended 31 December 2022continued)
|3 Charitable activities
Welfare & bereavement
4 Administrative expenses
£1 District contribution
Ministers Allowance
Youth Ministry
Fuel
Assessment
district payments
Bus Maintenance
Bus Insurance
Printing/Stationery
Honorarium
Seminar
Motor Vehicle-Car
Website
Travel & Transport
Telephone
DONATION
Solicitors fees
valuation fees
brokers fee
arrangements fees
Building Repairs & furnishing
Mortgage Interest
other finance expenses
Conference expenses
2019 Harvest Expenses
Rent
Communion Elements
Drink & Refreshment
Accountancy fees
Equipment Maintenance
Capital Expense
Loan w/off|2022
0
2022
0
5708
181
800
16196
3614
3314
2167
1470
850
1914
5300
46
1124
631
2520
2140
1440
4500
2625
18564
2268
2012
690
1831
5888
505
500
950
2882
0
5400
98029|2021
0
2021
144
4900
0
0
11573
1911
1601
3053
789
250
0
0
515
418
506
0
0
0
1750
0
0
0
1203
654
465
0
190
950
522
2104
0
33498|2021|
|---|---|---|---|
||||0
2021|
Page 8
5 Tangible fixed assets
386,620
0
|6 Debtors: Amounts falling due within one year
Soft Loans
0
0
7 Cash at bank and in hand
Current account
0
£
Deposit reserve account
620
£
Cash in hand
0
620
Presbyterian Church of Ghana, North London District - Milton Keynes congregation (UK)
Notes to the financial statements for the year ended 31 December 2022 (continued)
8 Creditors: Amounts falling due within one year
Sundry creditors
950
Current Account
10774
11724
Net movement in funds
01.01.22
9 Movement in funds
Unrestricted funds
b/f
130295
130295
Surplus/Deficit
-15976
-15975.78
Total funds
114319
page 9|700
700
5,212
125,333
0
130545
950
0
950
01.01.21|
|---|---|
||127,702
2,593
130,295|
|||