# **ROYAL PRIESTHOOD PENTECOSTAL CHURCH (UK)**
## **FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31[st] March 2021**
**CHARITY NUMBER: 1188853**
## **Table of Contents**
Legal & Administrative Details .……………………………………………… 1 Trustees’ Report …………………………………………………………………… 2 Independent Examiner’s Report ……………………………………………… 3 Financial statements……………………………………………………………… 5 Balance Sheet ……………………………..………………………………………… 6 Notes to the accounts …………………..………………………………………… 7
# **ROYAL PRIESTHOOD PENTECOSTAL CHURCH (UK)**
## **LEGAL & ADMINISTRATIVE DETAILS**
**YEAR ENDED 31 March 2021**
## **ADDRESS FOR CORRESPONDENCE**
32 BIRCHDENE DRIVE LONDON SE28 8RL
## **REGISTERED CHARITY NUMBER**
1188853
## **GOVERNING DOCUMENT**
CONSTITUTION ADOPTED 01/03/2016
## **TRUSTEES/ DIRECTORS**
KWASI AMOANI OKANTA KWADWO SARFO MAGRET BOATENG SARAH OWUSUA RICHARD FREMPONG
## **PRINCIPAL BANKERS**
LLOYDS BANK PLC 25 GRESHAM STREET LONDON EC2V 7HN
## **INDEPENDENT EXAMINER**
DKA ACCOUNTING LTD EAST WING CASTLE HOUSE DAWSON ROAD MILTON KEYNES MK1 1QY
1
## **TRUSTEES’ REPORT**
The trustees are pleased to present their report for the year ended 31st March 2021 for the charity Royal Priesthood Pentecostal Church (UK) with charity number. 1188853
The Trustees of the charity are:
KWASI AMOANI OKANTA KWADWO SARFO MAGRET BOATENG SARAH OWUSUA RICHARD FREMPONG
The principal address of the charity is:
32 BIRCHDENE DRIVE LONDON SE28 8RL
## **Structure, Governance and Management**
The Charity governing document is a constitution that was approved on 01/03/2016. The Charity is governed by a board on which the trustees are represented. It meets regularly to review, plan activities and monitor the charity’s financial position.
## **Objectives and Activities**
The Objects of the organisation are first to advance the Christian faith in accordance with the statement of beliefs for the benefit of residents in the United Kingdom and in such other parts of the world as the trustees may think fit from time to time. 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.
## **Achievements and Performance**
The main activity of the charity is holding of prayer meetings and lectures which are meant to advance the Christian religion. The charity also provided assistance to members who are in various kinds of needs and to the community at large.
The Charity have celebrated Christian religious festivals throughout the year and also produced and distributed Christian literature to enlighten the public about the religion. As a church, charitable deeds are the core of our operations and so the charity involves itself in charitable deeds whenever the need arises.
The Church also provided financial aid to members who were financially challenged. In the year coming, the charity wants to reach more vulnerable youth in London to offer them support to be able to transform them and raise them up to be responsible leaders in the society and the world at large.
2
## **INDEPENDENT EXAMINER’S REPORT**
## **Financial Review**
The income of the charity was **£43,124** for the period. The charity is also well positioned to manage its costs effectively.
## **Reserve Policy**
It is the policy of the charity to maintain unrestricted funds. These are the reserves of the organisation and equivalent to 3 months of unrestricted expenditure. The aim is to ensure there is adequate funds to cover any emergency expenditure that may arise. They will seek to maintain this level throughout the year.
## **Risk Management**
The charity has 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:
1. Select suitable accounting policies and apply them consistently.
2. Make judgements and estimates that are reasonable and prudent.
3. State whether the applicable accounting standards have been followed.
4. 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.
This report of the charity for the year ended 31[st] March 2021 relates to the Statement of financial activities and the assets and liabilities Account.
3
## **Respective responsibilities of Trustees and examiner**
The charity’s Trustees consider that an audit is not required for this year under section 43(2) of the Charities Act 1993 (the Act) and that an independent examination is needed. It is my responsibility to:
- examine the accounts (under section 43 of the Act)
- follow the procedures laid down in the General Directions given by the Charity Commission (under section 43(7)(b) of the Act); and
- state whether particular matters have come to my attention.
## **Basis of the independent examiner’s statement**
My examination included a review of the accounting records kept by the charity. It included consideration of any unusual items or disclosures in the accounts and seeking explanation from the 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 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 respect, the Trustees have not met the requirements to ensure that:
- proper accounts records are kept in accordance with section 41 of the Act; and
- accounts are prepared which agree with the accounting records and comply with the account requirements of the Act; or
2. to which in my opinion attention should be drawn in order to enable proper understanding of the accounts to be reached.
## _**DAVID AKAKPO MA (FAM), ACMA, CGMA**_
4
## **ROYAL PRIESTHOOD PENTECOSTAL CHURCH**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2020**
|**Note**
**Incoming resources from Generated funds**
Donations and Legacies
2
Investment income
Other Income
3
**Total Incoming resources**
**Resources expended in furtherance of charity objectives**
Charitable activities
Other
**Total Resources Expended**
**Net movement in funds**
**Reconciliation of Funds**
Funds Brought forward
**Funds carrried forward**|**UNREST RICT ED**
**FUNDS**
**£**
12,357
-
30,767
**43,124**
23,637
-
**23,637**
**19,487**
-
**19,487**|**2121**
**£**
12,357
-
30,767
**43,124**
23,637
-
**23,637**
**19,487**
-
**19,487**|**2020**
**£**
-
-
-|
|---|---|---|---|
||||**-**|
||||-
-|
||||**-**|
||||**-**
-
**-**|
The above funds are all classed as to purpose.
All movements of funds and all recognised gains and losses are included above.
The notes on the accounts form part of these accounts.
5
## **ROYAL PRIESTHOOD PENTECOSTAL CHURCH**
## **STATEMENT OF ASSETS AND LIABILITIES AS AT 31 MARCH 2021**
|**ASSETS**
Fixed Assets
**Total Fixed Asset**
**Current Assets**
**Cash at bank and in hand**
Cash at bank
**Total Cash at bank and in hand**
**Net current assets**
**Creditors: amounts falling due within one year**
**Current Liabilities**
Members Loan
**Total Current Liabilities**
**Total Creditors: amounts falling due within one year**
Net current assets (liabilities)
**Total assets less current liabilities**
**Total net assets (liabilities)**
**Creditors: amounts falling due after more than one year**
Bank loan
**Total Creditors: amounts falling due after more than one**
**Total net assets (liabilities)**
**CHARITY FUNDS**
**Opening balance**
Surplus/(Deficit)
**Total Funds**
The financial statements were approved on|**2021**
**2020**
**£**
**£**
-
-
**-**
**-**
51,328
-
**51,328**
**-**
**51,328**
**-**
**1,841**
**-**
**1,841**
**-**
**1,841**
49,487
-
**49,487**
**-**
**49,487**
**-**
30,000
**y**
**30,000**
**19,487**
-
-
19,487
-
**19,487**
**-**
**17/May/2021**|
|---|---|
|||
|||
## **SIGNED ON BEHALF OF THE BOARD BY:**
NAME:
**----- Start of picture text -----**
KWASI A. OKANTA
**----- End of picture text -----**
STATUS
**Board Chairman**
6
## **ROYAL PRIESTHOOD PENTECOSTAL CHURCH (UK)**
## **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2021**
## **1) Accounting Policies**
These accounts have been prepared under the historic cost convention with items recognised at cost or transaction values otherwise stated in the relevant note(s) to these accounts. The accounts have been prepared in accordance with:
The Statement of Recommended Practice: Accounting and Reporting by Charities.
Preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) issued on 16 July 2014.
1.1 **Going Concern:** The accounts are prepared on a going concern basis.
1.2 The accounts present a true and fair view and no change have been made to the accounting policies adopted.
1.3 No changes to the accounting estimates have occurred in the reporting period
1.5 No material prior year error has been identified in the reporting period. _Recognition of Income_
These are included in the Statement of Financial Activities (SOFA) when:
- The charity becomes entitled to resources;
- It is more likely than not that the trustees will receive the resources;
- The monetary value can be measured with sufficient reliability.
_Grants and Donations_
Grants and Donations are only included in the SOFA when the general income recognition criteria are met (5.10 to 512 FRS102 SORP)
## _Tax reclaim on donations and gifts_
Gift Aid receivable is included in the income when there is a valid declaration from the donor. Any gift aid amount recovered on a donation is considered to be part of that gift and is treated in addition to the same fund as the initial donation unless the donor or the terms of the appeal have specified otherwise.
7
## **EXPENDITURE AND LIABILITIES**
_Liability Recognition_
Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty.
_Grants and Support Costs_
Support costs have been allocated between the governance costs and other support.
Governance costs comprise all costs involving public accountability of the charity and its compliance with regulation and good practice.
## _Creditors_
The charity has creditors which are measured at settlement amounts less any trade discounts.
## **ASSETS**
_Tangible Fixed Assets for use by the charity_
They are capitalised if they can be used for more than one year. They are valued at cost. The depreciation is calculated at 20% reducing balance method.
_Debtors_
Debtors are measured on initial recognition at settlement amount. Subsequently they are measured at cash.
8
## **ROYAL PRIESTHOOD PENTECOSTAL CHURCH**
## **DETAILED INCOME AND EXPENDITURE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2021**
|**Note**
**Incoming resources from Generated funds**
Offering
Tithes
Gift Aid
Other Income
**Total Income**
**Resources expended in furtherance of charity objectives**
Accountancy Fees
Advertising/Promotional
Charitable Contributions
Entertainment
Honorarium
Legal and Professional Fees
Office/General Administrative Expenses
Rent
Repair, maintenance, decoration
Sundry expenses
Net Surplus for the year|**UNRESTRICTED**
**FUNDS**
**£**
-
12,357
30,761
6
**43,124**
3,600
446
14,604
32
250
350 -
3,442
776
132
7
**23,637**
19,487
**19,487**|**2021**
**£**
-
12,357
30,761
6
**43,124**
3,600
446
14,604
32
250
350
3,442
776
132
7
**23,637**
19,487
**19,487**|**2020**
-
-
-
-|
|---|---|---|---|
||||**-**|
||||-
-
-
-
-
-
-
-
-
-|
||||**-**|
||||-|
||||**-**|
9