2022-12-31-accounts

Registered Charity Number 1186941 HOURS OF PRAISE Trustees Report and Financial Statements For The Year Ended 31 December 2022

HOURS OF PRAISE Report and accounts Contents Page Charity informats'on Trustees, ReF)Ort Stslemenl of Trustees, responsibilit￿S Independent Examiner's report Statement of Financial AGb"vrties Balance sheet NoteWS¢hedule to the financial ststemenls

HOURS OF PRAISE Charity Information Trustees Esther Foluke Tolulope Farinde Oluseyi Latifu Jinadu Oluremi Olufemi Akinpelu Daniel Olasoji Idowu Agnes Mary Bamidele Independent Examiner Daniel Dele-ojo FCCA Timi and Co. Unit One Kings Estate Broadway Parade Hornchurch RM12 4RS Bankers Natwest 250 Bishopsgate London EC2M 4AA Principal address 5 PapenbuTg Road Canvey Island SS8 9PW Reglslered number 1188941

HOURS OF PRAISE Report of the Trustees The trustees present their annual report together with the financial statements of Hours of Praise Ithe charity) for the year ended 31 December 2022. The Trustees confirm that the annual report and financial statements of the charity comply with the current statutory rÈqiJirÉmènts, thè r8quir&ments of the charity's governing document 2nd the provisions of the Statement ol Recommended Practice {SORP}"Accounting and Reporting by Charities. issued in March 2005. Hourg of Praise is a charty and the Trustees of the charity exer¢i8e control. The organisation's principal objects conttnue to be.. 1. To advance Christian religion by propagating the gospel of Jesus Christ and proclaiming the Kingdom of God through preaching the word of God 2. To advance such other charitable purposes as Ihe Trustees shall determine particularly, bul without prejudice to the generalty of the ft)regoing, by relieving distress caused by disaster, poverty and sickness 3. The advan¢ement of Christian religion by the worship of God, the proclamation of the Holy Spirit and the Fellowship of Mankind

HQURS OF PRAISE Statement of Trustees. Responsibilities The Charities Act requireg the Board of Trustees lo prepare 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 financial statements thè Board is required to.. select suitable accounting policies 2nd then apply them consistently., make judgements and estimates that are reasonable and prudent., and prepare the financial statements on the going COn￿M basis unless it is inappropriate to presume that the charity will continue in business. state whether applicable accounting standards and statements of recommended practice have been followed, subject to any rnaterial departures disclosed and explained in the financial statements., The Trustees are also responsible for maintaining adequate accounting records which disclose with reasonable accuracy at any lime the financial position of the charity and which are sufficient lo show and explain the charity's transactions and enable them to ensu￿ that the financial statements comply with regulations made under the Charities Act. They are also responsible lor safeguarding the assets of the charity and hen￿ for taking reasonable steps for the prevention and detection of fraud and other irregularities. The Iruslees are also responsible for the contents of the trustees, report, and the responsibility of the independent examiner in relation to the trustees, report is limited to examining the report and ensuring that, on the fa￿ of the report, there are no inconsistencies with the figures dlsclosed in the financial statements. This report was approved by the board of trustees on 14 November 2023 and signed on its behalf by.. Agnes Mary Bamidele Trustee

HOURS OF PRAISE Independent Examlnerfs Report to the trnstees of the chailty Report of the Independent Examiner to the trustees on the financial statements of the charlty for tho year ended 31 December 2022 I report on the financial statements of the Charty on for the year ended 31 December 2022 which have been prepared in accordan¢e with the Charities Act 2011 and with the Financial Reporting Standard for Smaller Entitses IFRSSEI, effecbve April 2008, adapted to meet the needs of unincorporated organisations, as modified by the Statement of Recommended Practice for Accounting and Reporting issued by Ihe Charity Commissioners for England & Wales, effective April 2005 as revised in June 2008. (The SORPI, under the historical cost convention and the accounting policies sel out. R8spectlvo responslbilities of trustses and examiner The Charity's trustee5 are responsible for the preparation of the financial statements_ The trustees are satisfied that the audit requirement of Section 144111 of the Charities Act 2011 Ilhe Acll does not apply, and that there is no requirement in the governing document or constitution of the Charity for the conducting of an audit. As a conseqLJence, the trustees have elected that the financial statements be subject to independent examination. Having satisfied myself that the charity is not subject to audrt, and is eligible for independent examination, it is my responsibility to.. al examine the accounts under section 145 of the Act., bl to follow the procedures laid down in the General Directions given by the Charity Commission under section 14515llbl of the Act,. and., cl to state whether particular matters have come to my attention. Basls of oplnlon and scope of work undertakon l Conducted my examination in accordance with the General Directions given by the Charity Commissioners for England & Wale5 in relation to the conductrng of an independent examination, referred to above. An independent examination includes a review of the accounting records kept by the Charity and of the accounting systems employed by the Charity and a Comparison of the financial statements presented with those records.11 also includes consideration of any unusual items or disclosures in the financial statements and seeking explanations from you as trustees Con￿mIng such matters. The purpose of the examination is to establish as far as possible that there hav& been no breaches of the Charities legislation and that the financial statements comply with the SORP, on a lesl basis, of evidence relevant to the amounts and disclosures in the financial statements. The procedures undertaken do not provide all the eviderlce that would be required in an audit, and information supplied by the trustees in the course of the examination is not subjected to audit tests or enquiries, and consequently I do not express an audit opinion on the view given by the financial statements, and in particular, l express no opinion as to whether the financial statements give a true and fair view of the affairs of the Charity, and my report is limited to the matters set out in the statement below. I planned and perfomed my examination so as to satisfy myself that the objectwes of the independent examination are achieved and before finalising the report, l obtain written assurances from the trustees of all material matters. Independent Exarninerfs Ststement, report and opinion SLJbject to the limitations upon the scope of my work as detailed above, in connection with my examination, I can confirm that this is a report in respect of an examination carried out under section 145 of the Act and in accordance with any directions given by the ComMiss￿n under subsection15llb} of that sedion which are applicable.,

HOURS OF PRAISE and that, no matter has come to my attention in connection with my examination which gives me reasonable cause to believe that in any material respect the requirements (i) lo keep accounting records in accordance with se￿10n 130 of the Act,. lill to prepare financial statements which accord with the accounting records and comply with the accounting requirements of the Act and., (iiil that the financial statements be prepared in accordance with the methods and principles set out in the Statement of Recommended Practice- Accounting and Reporting by Charitie$ have not been met,. or to which, in my opinion, attention should be drawn in my report In order to enable a proper understanding of the aeeounts to be reached. Daniel Dele-ojo FCCA For and on behalf of Timi and Co. Chartered Certified Accounlanls Unit One Kings Estate Broadway Parade Hornchurch RM124RS The date upon which my opinion is expressed is on 14 November 2023.

HOURS OF PRAISE Statement of Financial Activities for the year ended 31 December 2022 Unrgstricted Restricted Total Last Year Funds Funds Funds Total Funds 2022 2022 2022 2021 Incoming resources Incomlng resourc￿ from generated funds Voluntary Inccfne 29,788 29,788 3,300 Total incoming resources 29,788 29.788 3,300 Costs of charitable 8¢tivitles 28,200 28,2CY) 5,250 Total resources expended 28,200 28.2(KJ 5,250 Net incoming resourcesl{net outgoing resources) before transfers between funds 1,588 1,588 11,9501 18,2231 18,2231 11,0(K)I Net outgoing resources before Other recognised gains and losses 16,6351 16,6351 12,9501 Net movement in funds 16.6351 16,6351 12.9501 Total funds bmught fi>rward 6.985 8,985 9,935 Total Funds carrled forward 3S0 3SO 6.985

HOURS OF PRAISE Balance Sheet as at 31 December 2022 2022 2021 The assots aftdliabilities of th• eharify." Curr¢nt a$89ts C8sh at bank 8rhd in h8r 650 7.285 amoLsnls due within one year 1300) 13WI Net Current assets 350 6,985 Totalassets lets Currentliabilities 350 6,985 Net assets The funds ofthe C￿Tty.. Unrestricted incomè funds Unrestricted revenue accumulated funds 6,985 Total unrestricted funds 350 6,985 Total Gharity funds 350 6,985 Agnes Mary Bamld•le Tru$tse Approved by the board of trustee5 on 14 Nov•mbgr 2023

HOURS OF PRAISE Financial Statements for the ear ended 31 December 2022 1. ACCOUNTING POLICIES Accounting convènti¢)n The finanoal ststemenls have ￿en prepared in a¢wrdan¢e with the Financial Reporting Stsndaid for Smaller Entitie5 IFRSSEI. effective Awil 2008. and all othei appltcable accounting skndards, as modified by thg s18lernent of Recommended Practice foi Accounting and Rèporting issued by the Charity Comm15sionÈrs for England & Wales, (revised June 20081. Incorning r8sour¢g$ All incoming resources are inclLtded on the Statement of Financial Adivitie8 when the charity is legalty entitled to the income and the amount can be quanithed with reasonab￿ accuracy. Resources expended Expenditur8 is accounted for on an accnjals basis and has been dasstfied under headings that aggregate 811 cost related lo the category. Where costs cannot be dire¢Uy attributed lo particular headings they have been allO￿ted to aclwitiès on a basis coftsistènt tha usa of resouices. Taxation The d)arty is exempt from tax on its charita￿e actThiities. Fund accounting UnTestricted funds can be used in accotdarKB wrth charitablè obied¢ves at the discretion of the trustees. Restrictad funds can only b8 usad for particJJlar T8strict8d puwposes within the objects of the charity. Re$triction$ arise when Speafied by the donor or when fiJnd8 are raised for parkncuiar restrieted wrposes. Further exFAanation of the naluie and purpose of eath fund 1$ included in the notes lo the financlal stalemenl$. HI￿ purchase and leasing commitments Rentals paid under operating leases are charged to the statements of fin8nci818ctiwties on a straight line basis over the period of the lease. 2. TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, remuneralon or other benefits forthe year end￿ 31 December 2022. Trustees, Expenses Th6r6 wer6 no tnjstaès, axpansas paid nèithar for tho year ended 31 December 2022.

HOURS OF PRAISE Schedulè to the Statement of Financial Activitiès for tho year endod 31 D8c8mb8r 2022 Status of this $¢hedule to the Statement of Finan¢ial A¢ll¥itles Th6 SChedu￿S on the following pa98s ar8 required by the disdosure reqUireM￿ts of the Statement of Recomrn8nd8d Piactice for Accounting and Reporting issued by the Charity Commissioners for EnglaThl & Wales. effective April 2￿5 and revised in Jun• 2008. As 8vch, they form a part of the accounts required by tho Charrties (Accounts and Reports) Unrestrictèd R••trletsd Total Fund$ Funds Fund 2022 202Z Prlor Perlod Total Funds 2021 In￿mIng Resources Voluntary Incomo Donations Total Totsl Donatlons Recetved 29.7e8 29.788 29.788 29,788 29,788 29,788 3.300 3.300 3.300 Total Voluntary In¢omo 29.788 29,788 3,300 Total Incomlng Resources 29,788 29,788 3,300 Charitsblg expgndituro SupportGosts ofcharftsble 8ctivilles Dlrecl supporttosts Maiketing of servi 716 716 716 225 716 225 Managementandadministralion costs In support of charitable activitie5 si•ifeosts SUPP¥Wtof ch8rllabl0￿IwIVes Trainin9 and welfarg 512 512 S12 512 Indiredemployee co¥ts Travet and subsistence 379 379 379 379 Rates. water and servtce charges e￿anIng 360 328 360 328 688 688 Telephone and lax Postage Stationery and printing Subs&iptions Equipment expenses Software Events 785 197 274 785 197 274 91 91 995 995 257 818 1,500 1,002 2.750 1.002 2,750 6,094

HOURS OF PRAISE Schodule to the Statemont of Financial Activities for tho yoai onded 31 Docombor 2022 Status of thi8 8chodule to the Statement of Financial Activiti The schedu￿5 on the following page5 are required by the disdOsu￿ reqU1￿ments of the Statement of Re¢ommended PracticÈ for Accounting and Reporting issued by Ihe Charity CDmmiÉsionèrs for Englsnd & Walgs. èff&div& April 2005 and revised in Jun• 2CQ8. As S￿h, they form a p?rt of the a¢counts requsr&J by the Chanties (Accounts arKI Rgportsl Unregtrl¢ted Re8tri¢t¢d Totsl Funds Funds Funds 2022 2022 2022 Prfor Perlod Total Funds 2021 Prnfe￿oml fees In sewport ofclw¥lal)le4clivth8 Accountancy fee5 Other than examinerslauditors Artist Paymenl Consuttancy fees 300 300 4.160 15.351 19,811 300 4.160 15.351 19,811 2,150 2,450 Total Support costs 28,200 5.250 Total Expgndgd on Charltabl& Actlvltles 28.2CKJ 27,688 5.250 10