Registered Charity Number 1186941 HOURS OF PRAISE Trustees Report and Financial Statements For The Year Ended 31 December 2024
HOURS OF PRAISE Report and accounts Contents Pagfr Charity infofmation Trustees. Report Statement of Trustees, responsibilities Independent Examinerfs report Statement of Financial Activities Balance sheet Noteslschedule to the financial statements
HOURS OF PRAISE Charity Inforniatlon Trustoes Esther Foluke Tolulope Farinde Olusèyi Latifu Jinadu Oluremi Olufemi Akinpelu Daniel Olasoji Idowu Agnes Mary Bamidele Indendent Examlnef Daniel Dele-ojo FCCA Timi and Co. Unit One Kings Estate Broadway Parade Homchurch RM12 4RS Banke Natwest 250 Bishopsgale London EC2M 4AA Prlnclpal address 5 Papenburg Road Canvey Island SS8 9PW Regislor•d number 1186941
HOURS OF PRAISE Report ol the Trustseg The trustees present their annual report together with the financial statement5 of Hours of Praise {Ihe charity) for the year ended 31 December 2023. The Trustees confirm that the annual report and financial stalements of the charity comply with the current statutory requirements, the requirements of the charity's governing document and the provisions of the Statement of Recommended Practice ISORPI 'Accounting and Reporting by Charits'es issued in March 2005. Hours of Praise is a charity and the Trustees of the charity exercise control. The organisation's principal objects continue to be" 1. To advance Christian religion by propagating Ihe gospel of Jesus Christ and proclaiming the Kingdom of God through preaching the word of God 2. To advan such other charitable purposes as the Trustees shall determine particularty, but without prejudi to the generality of the foregoing, by lieVIng 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 Statement of Trustees. Responsibilities The Charities Act requiros the Board of Trustees to prepare financial statements for each financial year which give a true and fair view of the stste of affairs of the charity as al the end of the financial year and of the surplus or d8ficit of the charity. In preparing those financial statements the Board is required to.. - select suitable accounting poIleS and then apply them consistently., - make judgements and estimates that are reasonable and prudent., and - prepare the financial statements on the going ¢oncem basis unles5 It ts inappropriate to presume that the charity will continue in business. stste whether applicable accounting slandards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements., The Trustees a 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 to show and explain the charity's transactions and enable them to ensure that the financial statements comply with regulations made under the Charities Act. They are also responsible for safeguarding the assets of the Gharity and hence for taking reasonable steps ft)r the preventson and detection of fraud and other irregularities. The Iruslees are also responsible for the contents of the trustees, report, and the responsibility of Ihe independent examiner in relation to the trustees. report is limited to examining the report and ensuring that, on the face of the report, there are no inconsislencEs with the figures discbsed in the financial ststements. This report was approved by the board oftrustees on 30 October 2025 and signed on its behalf by.. Agnes Mary Bamidele Trustee
HOURS OF PRAISE Independent Examlnerfs Report to the trustees of the charty Report of the Indèpèndent Examlnor to the trustsos on thg finan¢lal statements of the charity for tha year ended 31 Docomber 2024 I rewrt on the financial statements of the Charty on for the year ended 31 December 2024 which have been prepared in accordance with the Charities Act 2011 and with the Financial Reporting Standard for Smaller Entities IFRSSE), effective April 2008, adapted to meet the needs of unincorporated organisations, as mdified by the Statement of Recommended Practice for Accounting and Reporting issued by the Charity Commissioners for England & Wales, effertive April 2005 as revised in June 2CKJ8. (The SORPI, under the historical cost convention and the accounting policies set out. R6spectlvfr responsibiliti08 of tru$tees and examiner The Charity's trustees are responsible for the preparation of the financial statements. Thé trustees are satisfied that the audit requirement of Section 14411} of the Charities Act 2011 (the Act) does not apply, and that therg is no requirement in the goveming document or constitution of the Charity for the conducting of an audit. As a Gonsequence. Ihe Irustees have eladed that ltte financial statements be subject to independent examinatlon. Having satisfied myself that the charity is not subject to audit, and is el1b18 for independent examination, rt is my responsibiltty to.. a) examine the accounts under section 145 of the Act.. b} lo follow the procedures laid down in the General Directions given by the Charity Commission under section 14515}{bl of the Act," and-, ¢1 to slate whether particular matters have come to my attention. Basls of oplnion and scope of work undertaken I conducted my examination in accordance with the General Directions given by the Charity Commissioners for England & Wales in relation to the conducting 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. It also includes consideration of any unusual items or disclosures in the financial statements and seeking explanations from you as trustees conmIng such matters. The purpose of the examination is lo establish as far as possible that there have been no breaches of the Charities legislation and that the financial statements comply with the SORP, on a test basis. of evidence relevant to the amounts and disclosures in the financial statements. The prcKedures undertak8n do not provide all the evidence that would be required in an audit, and information $uppli8d by the trustees in the course of the examination is not subjected to audit tests or enquiries, and ¢onsequently I do not express an audit opinion on the view given by the financial statem8rils, 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 plann8d and performed my Èxaminalion so as to satisfy myself that the objectives of the independent examination are achieved and before finalising the report, l obtain written assurances trom the twstees of all material matters. Indop8nd•nt Examinerfs Statement, report and oplnlon Subject to the limitatlolls upon the scope of my work as detailed above, in connection with my examination, I can confirm that this is a pOrt in respect of an examinab'on carried out under section 145 of the Act and in accordance with any directions given by the Commission under subsection {5llbl of that section which are applicable.,
HOURS OF PRAISE and that, no matter has come to ry attention in connects'on wth my examination which gwes reasonable cause to believe that in any material respect Ihe requirements li) to keep aOunting records in ardance wrth section 130 of the Act., Iii) to prepare financial stateffents which aGcord with the accounting records and comply with the accountlng requirements of the Acl and.. lili} that the financial statements be prepared in accordance with the methods and principles set out in the Statement of Recommended Pra¢tice- Accounting and Reporting by Charities 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 accounts lo be reached. Daniel Dele-ojo FCCA For and on behalf of Timi and Co. Chartered Cert4fied Accountants Unit One Kings Estste Broadway Parade Hornchurch RM12 4RS The date upon which ry opinion Is expressed is on 30 October 2025.
HOURS OF PRAISE Statement of Flnanclal Activitles for the yaar ended 31 December 2024 UnreBtrfctsd R•8tricted Total Last Year Funds Funds Funds Tot¥1 Funds 2024 2024 2024 2023 InGoming resource8 Incomlng rèsources from genorated funds Voluntary Incom¢ 33.446 20,896 Total incomlng resources 33846 33.448 20.898 Costs of charitable actlvllles 28,435 28,435 19,446 Totsl resource5 expended 28,435 28,435 19.446 Net incomlng resources before transfers between funds 5,011 5.011 1,450 5,079 Net Incoming resources before other recognlsed gains and losses 5,011 5.011 6,529 Net movement in funds 5.011 5,011 6.529 Total funds brought fonyard 6,879 6,879 350 Totsl Funds carrled forward 11.890 11.890 6,879
HOURS OF PRAISE Balance Sheet as al 31 Decombor 2024 2024 2023 The assots andliabilltlgs of the charity." Curront ¥ss•ts Cash at bank and in hand 12,791 7.179 Amounts due Y1n one year I1) {300) Net ¢urrent assets 11,890 6,879 Total•ssets less cuffent Ilabililles 11,8 6,879 Net as$•ts Tho funds of Ihe Charfty." Unrestrlcted income fvnds Unrestricted revenue accumulatsd funds 11,890 6.879 Total unre8trtcted funds 11.89) 6.879 Total ¢harfty funds 11,890 6,879 Agne¥ Mary Bamidele Trtee Approved by the board of trustees on 30 OGtobèr 2026
HOURS OF PRAISE Not to the Finan I Statsmènts for the ear ended 31 December 2024 1. ACCOUNTING POLICIES Accounting convention The ffinancial $18lemenls have been prepared in acwrdance with the Financial Reporting Standard for Smaller Entities IFRSSE}, effectNe April 2(X)8. and 811 other applicab accounting standards, as mrxlifsed by the Statement of Recommended Practice for Accounting and Reporting is$ued by the Charty Comrnissioners for England & Wales, (revised June 20081. Incoming re8our¢e# All incoming resou$ are included on Iha Statement of Financial Acthtie8 when the charity is legalty enlilled to the income and the amount can be quantffjd with reasonable auracY. Resource8 exponded Exp8ndilure is Sccounleil for on an accruals basis and has been dassffied under heaijings Ihat aggregate all txjst relat to the category. Vere costs cannot be directly attributed to particular headings they have been allocated lo activities on a ba$1$ nSIstenI wth the use of resources. Taxatlon The charty is exempt from tsx on its charitable a¢tNities. Fund accounting Unrestri¢ted funds can be u8ed in a¢£ord8nce with the charitable objectiv88 at the discretion of the trustees. Restrcted funds eAn onty te used for parti¢u18r restTKted purtises within the objgcts of the charity. Resknctions arÉse when speafied by tha donor or when ftJrKls are raised for p84ticular restricted purposes. Further explanalion ofthe nature 8nd purpose of eath fund is Ided in the notes to the finanaBI statement8. Hire purchase and lea8lng commitments Rentals paid under operating leases are charged lo thg sL21ements of finanaal tIVitieS on a stralght line ba¥is over the period of the lease. 2. TRUSTEES, REMUNERATION AND BENEFITS There were no tru8lee8' remuneration or other beneffts for the year ended 310ecember 21r24. Trustee¥, Expènses There were no trustees. expenses paid neither f the year ended 31 December 2024.
HOURS OF PRA18E Sch&dulo to tho Statemgnt of Finaficial Actfvities for tho year end•d 31 Doe]bOr 2024 3tatu8 of 8ch•dulo to th? Statwnant of Finanehl Actlvltie The schedub3 on the following pages are required by the disclosure roquirgm6nts of the Staternent ol Racommended Practic8 for Accountiro and Reporting issued by the Charrty Commissionèrs for ErYJland & Wales, effeetwe Arth'l 2005 and rewsed in June 2008. As such, they fom a part ol the accounts requirwj by th& Charitie8 (Accounts arKI Reportsl Vnrn8trlct•d Re6trfctod Total Funds Fund• Fund8 2024 2024 2024 Prfor Period Totsl Fund6 2023 Incoming Resources Voluntary Incomo Donations Total Totsl Donallon8 R•¢elv•d 33.446 33,446 31446 33,446 33,446 20.896 20,896 20.896 Totsl Voluntary Incomo 33A46 20,896 Total In¢omlng Resources 33,446 33.448 20,8 Charltabl• oxpondlturo Support costs of charitsbl• *eb¥iiw•s Direcisupportcosts arkètlng of servi 1,037 1.037 1,037 1.037 521 521 Managementandadmlnlstr8tlon costs in supportof charltsble 8clivltl•s Sts17c08ts1n supportof •Cllvlll8s Training and welfare 376 376 Travel and sub5iSter 304 304 Prem18e8 Costs Rates. water and servtr charyes Insuraneè 365 301 301 Cleaning 297 301 301 662 Telepho and fax Postage Stth"0ry and printing Subseriptions Sound Engineer Softwara Venue Lighl 153 208 169 1,400 169 1.400 76 712 636 1,600 1.600
IIOURS OF PRAISE Schodule to the Ststement of Flnanci•l Activitie• for th• year ended 31 Decembgr 2024 Status of this $¢hodul• to th• Statemont of Fknan¢ial Adivitl•s Thè schedule$ on the followi)g page$ are required by the disdosure requirements of the ststem?nt of RecommeThled Pradic8 for Accounting and Reporting Bsued by the Charity Commissioners for England & Wak8S, 8ffectiVg April 20( and I•Ved in Junè 2008. As SLKh, they fomi a part of the 8ccounts Nuird by the charfts {AUnts and Report81 Unrg8trlct8d Restrkt•d Total Funds Funds Fund$ 2024 2024 2024 Prlor Perlod Total Funds 2023 Venue 11,512 14881 11.512 14.681 1,560 3,879 Professlonalfp85 Insupportol¢hrft•bl•acllvllles AGcountsn¢y fees other than examsneTr18uditor8 Artist Payment Consuttancy feets 400 12.018 300 12,018 3,342 10.062 12A16 12A16 Total Support C06ts 28,435 28A35 19,446 10