2024-08-31-accounts - House Of Power Ministry International

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HOUSE OF POWER MINISTRY INTERNATIONAL

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31[ST] AUGUST 2024

CHARITY NUMBER: 1186677

HOUSE OF POWER MINISTRY INTERNATIONAL FLAT 16 BEDWELL HOUSE STOCKWELL PARK ROAD LONDON SW9 0UH

INDEX Page Index 1 Trustee’s Report 2-3 Independent Examiner’s Report 4 Statement of Financial Activities 5 Balance Sheet 6 Notes on the financial Statements 7

HOUSE OF POWER MINISTRY INTERNATIONAL

TRUSTEES’ REPORT YEAR ENDED 31[ST] AUGUST 2024

The trustees are pleased to present their report for the year ended 31[ST] August 2024 for the charity, House of Power Ministry International with Charity Number 1186677.

The Trustees of the charity are: Mr Benjamin Giftson Armoo Mr Eric Boateng Mr Samuel Dwomo Boakye Mr Patrick Ata Musah

The principal address of the charity is: Flat 16 Bedwell House Stockwell Park London SW9 0UH

STRUCTURE, GOVERNANCE AND MANAGEMENT

The Charity governing document is a CIO- Foundation constitution that was registered on 29[th] November 2019.The Charity is governed by a board on which the trustees are represented. It meets regularly to review, plan activities and monitor the financial position.

OBJECTIVES AND ACTIVITIES

The Objects of the organisation are to advance the Christian Faith [in accordance with the Statement of Beliefs], to relieve persons who are in condition of need or hardship or relieve distress caused thereby in the United Kingdom or abroad. The trustees confirm that they have had due regard to the guidance issued by the Charity Commission on public benefit before deciding what activities the charity should undertake.

ACHIEVMENTS AND PERFORMANCE

The Organisation continues to hold successful services through the year in which individuals were equipped and educated on the principles and doctrines of the Christian faith. The church held several conferences to assist the development of the people in the community. The church also supported other charity organisations with similar objects with helping those in need. The church also continues to hold it services in the hired premises. The church supported its branch church in Ghana with resources during the year.

FINANCIAL REVIEW

The income of the charity is above £63,000. The church used some of the amount in supporting its branch church in Ghana. The charity had a surplus at the end of the year and is saving up to acquire its own building in the future. The church continues to support its branch church in Ghana with regular financial support.

FUTURE DEVELOPMENTS

The church intends to continue to host its regular yearly conferences in UK. The intended reappointment of our present independent examiner at the upcoming trustee meeting is expected to support the financial operations by making it more effective.

RESERVE POLICY

It is the policy of the Charity to maintain unrestricted funds, which are the reserves of the charity at about 3 months of unrestricted expenditure .This provides sufficient funds to cover any emergency expenditures that may arise from time to time. The charity will seek to maintain this level throughout the year.

RISK MANAGEMENT

The charity have assessed all the major risks to which the charity is exposed to, in particular those related to operations and finances of the charity, and are satisfied that systems are in place to mitigate exposure to major risks.

TRUSTEE RESPONSIBILITIES

Under the Charities Act 2011, the trustees are required to prepare a statement of accounts for each accounting year which gives a true and fair view of the state of the church. They are required to:

Select suitable accounting policies and apply them consistently.
Make judgements and estimates that are reasonable and prudent.
State whether the applicable accounting standards have been followed.
Prepare financial statements on an ongoing basis.

They are responsible for keeping proper records which disclose with reasonable accuracy the finances of the church at any time and to ensure that such accounts comply with the Charities Act 2011.They also have a responsibility to safeguard the assets of the church and to take reasonable steps to detect fraud or other irregularities.

Approved by the Trustees on 3[rd] March 2025 and signed on their behalf by:

Independent Examiner’s Report To the Trustees

HOUSE OF POWER MINISTRY INTERNATIONAL

I report on the accounts of the church for the year ended 31[ST] August 2024 set out on the following pages which have been prepared on the basis of the accounting policies shown in the corresponding pages.

Respective responsibilities of trustees and examiner

The trustees of the church are responsible for the preparation of accounts: they consider that the audit requirement under section 144(2) of the Charities Act 2011 (the 2011 Act),does not apply. It is my responsibility to :

Examine the accounts under section 145 of the 2011 Act.
Follow the procedures laid down in the General Directions given by the Charity Commissioners made under section 145(5)(b) of the 2011 Act.
State whether particular matters have come to my attention.

Basis of Independent examiner’s report

My examination was carried out in accordance with the General Directions given by the Charity Commissioners. 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 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 I do not express an audit opinion on the view given by the accounts.

Independent examiner’s statement

In the course of my examination, no matter has come to my attention;

(1) which gives me reasonable cause to believe that, in any material aspect, the trustees have not met the requirements to ensure that:
proper accounting records are kept( in accordance with section 130 of the 2011 Act
accounts are prepared which agree with the accounting records and comply with the accounting requirements of the 2011 Act: or
(2) to which , in my opinion , attention should be drawn in order to enable a proper understanding of the accounts to be reached.

CHUKS AJUKA BSc(Man), FICB PMDip FRESH FIRE ORGANISATION Generator Business Centre 95 Miles Road Mitcham Surrey CR4 3FH

HOUSE OF POWER MINISTRY INTERNATIONAL

ACCOUNTS FOR THE YEAR ENDED 31st August 2024

1 Receipts & Payments Account (General Purpose Fund)

Income Receipts Church Donations Other Income Total Receipts Direct Charitable Expenditure Hall Hire Speakers expenses Church Supplies Profesional Fees Welfare Ghana Mission Bank Charges Admin Media services Telephone Transport Refreshments Courier services Stationery Hotel Other Expenditure Equipment Fixtures & Fittings Total Payments Net Receipts/(Payments) for the year Cash Funds brought forward Cash Funds at the end of the year	£ £ 2024 2023 63124 13576 0 0
	63124 13576 10600 2760 4000 0 0 178 360 300 400 1290 20000 21000 15 31 51 198 400 144 100 0 9294 79 102 77 0 147 310 367
	45999 26204 181 380 115 0
	296 380 46295 26584 16829 -13008 468 13476
	17297 468 ___

HOUSE OF POWER MINISTRY INTERNATIONAL

2 Statements of Assets and Liabilities at 31st August 2024

Cash Funds Metro Bank Cash in hand Total Cash Funds Assets Retained for the Charity's Own use Instruments Equipment Fixtures Liabilities Accounting fee NET ASSETS	Unrestricted Funds 2023 2023 £ £ 16829 468 468
	17297 468
	164 205 2662 3147 115
	2941 3352 360 360
	19878 3460

Approved by the Trustees and signed on their behalf:

HOUSE OF POWER MINISTRY INTERNATIONAL

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31st AUGUST 2024

ACCOUNTING POLICIES

Basis of Accounting

These accounts have been prepared on the receipts and payments basis under section Charities Act 2011.

Funds

Unrestricted funds are those which can be used at the Trustees' discretion. Restricted Funds are those whose purposes have been restricted by the donor.

Staff

All the other work of the church was carried out by volunteers. No employee earned more than £10,000 in the financial year.

Depreciation

The depreciation on equipment, Instruments and vehicle is calculated at 20% reducing straight line method.