Registered Charity Number 1186941 HOURS OF PRAISE Trustees Report and Financial Statements For The Year Ended 31 December 2021 HOURS OF PRAISE Report and accounts Contents Pago Chanty information Trustees, Report statement of Trustees, responsibilities Independent Examinels report Stalement of Financial Activitie$ Balance sheet Noteslscheduie to the financial statements HOURS OF PRAISE Charity Infomiation Trustoes Esther Foluke Tolulope FaTinde Oluseyi Latifu Jinadu Oluremi Olufemi Akinpelu Daniel Olasoji Idowu Agnes Mary Bamidele Ind•pendent Examiner Daniel Dele-ojo FCCA Timi and Co. Arundel Business Centre 49 Station Road Harold Wood Romford RM3 OBS Bankera Natwesl 250 Bishopsgate London EC2M 4AA Principal addrns8 S P8penburg Road Canvey Island SS8 9PW Reglstered numbor 1186941 HOURS OF PRAISE Report of the Trustees The trustees present their annual report together with the financial statements of Hours of Praise {the charity} for the year ended 31 December 2021. The Trustees confirm that the annual report and financial statements of the charity compty with the current statutory requirements, the requirements of the charity's governing document and the provisions of the Statement of Recommended Practice ISORPI 'Accounling and Reporting by Charities" issued In March 2005. Hours of Pralse 1$ a charfty and the Trustees of the charity exercise control. The organisatvjn's principal oblects continue to be". 1. To advance ChrÈstian rellgion by propagabng the gospel of Jesus Christ and prooL4iming the Kingdom of God through preaching the word of God 2. To advance such other chantable purposes as the Trustees shall determine particularly, but without prejudice to the generalty of the foregoing, by relieving distress caused by disaster, poverty and sickness 3. The advancement of Christian religion by the worship of God, the proclamation of the Hoty Spirit and the Fellowship of Mankind HOURS OF PRAISE ststement of Trustees. Responsibilitios The Charities Act requires the Board of TTUStees to p￿pare financial statements for each financial year which give a true and fair view of the slate of affairs of the charity as at the end of the financial year and of the surplus or deficit of the charity. In preparing those financia5 statements the Board is required to.. - select suitable accounting policies and then apply them consistently., - make judgements and estimates that are reasonablo and prudenl and prepare the financial statements on the going concern bas¢s unless il is inappropriate to presume that the charity will continue in business. state whether applicable accounting stsndards and Statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements., The Trustees are also responsible for maintaining adequate accounting records which disdose with reasonable accuracy at any time the financial position of the charity and which are sufficient to show and explain the charity's transactions and enable them to ensure that the financial statements comply wrth regulations made under the Charities Act. They are also responsible for safeguarding the assets of the charty and hence for taking reasonable steps for the preventlon and detection of fraud and other irregularities. The trustees are also responsible for the contents of the trusteés, report, and the responsibility of the independent examiner in rolation to the trustees, report is limited to examining the report and ensuring that, on the face of the report, there a￿ no inconsistencies with the figures disclosed in the finanGial ststements. This report was approved by the board oftrustees on 06 O¢tober 2022 and signed on its ehalf ty.. Agnes Mary Bamidele Trustee HOURS OF PRAISE Indopondont Examinorfs Roport to the trustees of tho chaflty Roport of tho Indopondent Examiner to the trustees on th• financial statements of the Charity for the year ended 31 D8¢¢mber 2021 I report on the financial statements of Ihe Charity on for the year ended 31 December 2021 which have been prepared in accordance with the Charitles Act 2011 and with the Financial Reportt"ng Standartl for Smaller Entities IFRSSE}. effeGtive April 2008, adapted to me?t the needs of unincofporated organisations. as modified by the Statement of Recommended Practice for Accounting and Reporting issued by the Charity Commissioners for England & Wales, effective April 2005 as revised in June 2008. (The SORP}, Lsnder the historical cost convention and the accounting policies set out. Res￿etiv6 rnsponslbllltle8 of Irustees and examinor The Charity's trustees are responsible for the preparation of the financial statements. The trustees are satisfied that the audit requirement of Section 14411) of the Charities Act 2011 (the Act) does not apply, and that there is no requirement in the governing docum8nt or constitution of the Charity for the conducting of an audit. As a consequence, th9 tru$tggs hav& elected that the financial stat8m8nls be subject to independent examination. Havirsg satisffed myself that the charty is not subject to audrt, and is eligible for independent examination, it is my responsibility to.. al examine the accounts under section 145 ofthe Act., bl to follow the procedures laid down in the Genefal Directtons given by the Charity Commission under section 14515llb) of the Act,. afid. c} to state whether particJJlar matters have Come to my attention. Basi$ of oplnlon and scope of Work undertaken I conducted my examination in accordan￿ with the General Directions given by the Charity Commissioners for England & Wales in relation to the conductrng of an independent examinatson. refer￿d to above. An independent examination includes a review of the accounting ￿COrdS kept by the Charity and ofthe acwunting systems employed by the Charity and a ¢omparison of the financial ststements presented with those records. It also includes consideration of any unusual items or disclosures in the financial ststements and seeking explanations from you as trustees cor￿Ming Such matters. Th8 purpose of the examination is to establish as far as possible that there have been no breaches of the Charities legislation and that the financial ststements comply with the SORP, on a test basis, of evidence relevant to the 8moLJnts and disclosures in the financial slatements. The procedures undertaken do not provide all the evidence that would be required in an audit, and infomiation supplied by the trustees in the course of the examination is not subjected to 8udit lesls or enquiries, and consequently I do not express an audit opinion on the view given by the financial statements, and in partiGular, l express rso opinion as to whether the ffnancial statements give a true and fair view of the affairs of the charity, and my report is limited to the matter5 set out in the statement below. I planned and perfom)ed my examination so as to satisfy myself that the objectNe$ of the independent examination a￿ achieved and before finalising the report, l obtairi written assurances from the trustees of all material matters. Independent Examlnerf$ Statamant, report and oplnion Subject to the limitations upon the scope of my work as detailed above, in Gonnection wilh my examination, I can confirm that this is a report in respect of an examination Carried Olrt ￿nder section 145 of the Act and in accordance with any direct¢ons given by the Commission under subsection {51{bl of that $e¢tion which are appli¢able', HOURS OF PRAISE and that, no matter has come to my attention in connection with my examination which give5 me reasonable cause to believe Ihat in any material respect the requirements li) to keep accounting records in accordan￿ with section 130 of the Act (li) to prepare financial statements which a￿[￿ with the accounting records and Gomply with the accounting reqU1￿ments ofthe Act and; lili) that the financial statements be prepared in a￿rdance with Ihe methods and princlples set out in the Statement of Recommended Pracb'ce - Accounting and Reportlng by Charities have not been met,. or to which, in my opinion, attenlon should be drawn In my report in order to enab￿ a proper understanding of the accounts to be reached. Daniel Dele-ojo FCCA For and on behalf of Timi and Co. Chartered Certified Accountants Arundel Business Centre 49 Station Road Harold Wood Romford RM3 OBS The dats upon which my opinion is expressed is on C6 O¢tober 2022. HOURS OF PRAISE Statement of Financial Activities for the year ended 31 December 2021 Unrnstrlet4d Rostrlctod Total Last Y?ar Funds Fund¥ Fund• Total Fund¥ 2021 2021 20 2020 Incoming resources Incomlng resourcos from génwated funds Voluntary Inc￿me 3,3 3.3( 12,200 Total incoming resources 3,300 3,300 12,200 Costs of chatTtabl• athibos 5,250 5,250 11,849 Totsl resourceg expended 5,250 5,250 11.849 (Net outgoing resourcesynet Incomlng resources before transfers between funds 11,9501 11,9501 11,0001 11.0(YJl 9,584 (Net outgoing resourcesynet Incomlng resources before Other recognlsed galns and losse8 12,9501 12,9501 9.935 Net movement In funds {2,9501 12.9501 9,935 rotal funds bmught fonyattl 9.935 9.935 Total Funds carried forward 6,985 9,935 HOURS OF PRAISE Balancg Sheet as at 31 December 2021 2021 2020 The •ssots amlliabilities of the ¢harity.' Current assets Cash at bank and in h8nd 7285 10.235 amounts due within one year 1300) {300} Ilet ¢urrentassets 6,985 9,935 Totalassets less current IlabHIIIoS 6,985 9,935 Net assets The funds of the ¢harlty.' Unrestrictèd income fund$ UnTestrlctod revenue accumulatsd fijnds 6.98$ 9,935 Total Un￿strIcted lunds 6,985 9,935 Total charlty tsnds 6,985 9.935 Agn•s M•ry Bamid• Trustee Approvgd by tho board of trustsos on 6 O¢tober 2022 HOURS OF PRAISE s to the Finan I S￿teMents ear ended 31 D￿mber 2021 1. ACCOUNTING POLICIES Aecountlng conventlon The financial statements have been prepared in accordance with the Flnana81 Reportin9 Standard for Smaller Entities {FRSSE}, effectwe April 2008, and all other 8pplic8ble actounling standards, a$ modlfied by the Statement of Recommended Praclice for Aar restricted purposes wthin the obje¢ts of the charity. Restridions arise when speafied by the donor or when lunds are rais￿1 for particular r8strided purposes. Further extlanation of the nature and purpose of eath fund is induded In the notes lo the fmanGk21 stslement$. Hlre purchaso and leaBlng ¢tynmlbM•nts Renta15 paid under operating leases are thaTg•d to the statemgnts of finanti81 activiti&s on a str8ioM line basis over the perscKI of the lease. 2. TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, remuneration or other berth forthe year ende(131 December 2021. Trustees. Expn$•s There wer8 no trustees, expen8e¥ paid neither for the year ended 31 tlgc8mt*r 2021. HOURS OF PRAISE Schgdulg to thg Statgmgnt of Frnancial A¢￿¥11108 for the y•ar endod 31 Docombor 2021 ststUB of thls 8chodulo to the 8tatemgnt of Finanrial Activltfj•s The schedukd5 ￿ thè following pages are requsred by IIE di5dosure reqU1￿ments of th8 Statement of Recommended Practi￿ for Accounting and Rtportlng issued by the Charity Commssstoners for England & Wales, 8ftèctive April 2005 and revised in June 2008. As such, they fomi a part of the accounts required by the Ch¥rth￿ (Accounts and Reports) Unre8trtctsd R•#tr1et￿ Total Fund8 Fund• Fund$ 2021 2021 2021 Prlor Perlod Total Fund8 2020 In¢omlng RosourGgs Voluntsry Income Donations Total Total tlonatEons Rece1￿1 3.300 3.300 3.300 12,200 12,200 3.300 Total Voluntary Incom• 3,31JO 12,200 Totsl Incomlng Resour¢•s 3.300 12,200 Charftable oxpgndltur• Support costs of ch•rftablo 8CtlvlUe Dlrectsupwrt costs Marketing of servir*s 225 226 22S 226 465 466 Managefflgnt•Mladmini$tratsw Costs in $upportof eharltabl• aetivltles Rent payab 6.300 Equipment expenses SothNare Events 2S7 818 257 818 1,500 2,576 76 404 Accountancy faes other than examine￿l8Udit0 Artist Payff*nt 2.150 2,460 Total Supptrrt ¢osts HOURS OF PRAISE Sch•duk to th9 Stst•mont of Financial Activiti68 for tho yoar •ndod 31 D9cgmbgr 2021 8tsts$ of $¢l*dulo to the St￿ten￿nt of Financ￿1 Actlviti08 Thè SCh￿Uth on the followiro pages are required by the diBcbsuo requirèments of the Stslemenl of RecfNnmend&J Practrce lor A¢¢ounting and Reporting issued by the Charity Commissioners for England % Wales. efFective April 2005 and tsvrsod in Jun• 2008. As such. thay forrn a part of th8 accounts T8quirèd by tho Charities IAc¢ounts and R8POrt81 UDrv¥M¢i•d Rtr8trlct8d Total Fund8 Funds Fund8 2021 2021 2021 Prfor Perlod Total Fund8 2020 Total Expended on charItab￿ AcllYltle8 5,250 5,250 11.849 10