REGISTERED CHARITY NUMBER: 1191088
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
FOR
POWER OF PRAYER IN THE HOUSE OF PRAYER MINISTRY
POWER OF PRAYER IN THE HOUSE OF PRAYER MINISTRY
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
| Page | |
|---|---|
| Administration Index | 3 |
| Report of the Trustees | 4-6 |
| Statement of Financial Activities | 7 |
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POWER OF PRAYER IN THE HOUSE OF PRAYER MINISTRY
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2022
Trustees
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David Kofi Ahinful
-
John Scott Dalrymple-Hayfron 3. Mercy Longdon 4. Michaela Nyamekye Gyamfi 5. Faustina Mensah
Charity registered Number Date of charitable registration Principal office address
1191088
1 September 2020
Flat 4 Bridgen House Nelson Street London E1 2DT
Bankers
Metro Bank
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POWER OF PRAYER IN THE HOUSE OF PRAYER MINISTRY
TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2022
The Board of Trustees, who are the trustees for charity law purposes, submit their annual report and the financial statements of Power of Prayer in the House of Prayer Ministry for the year ended 31 March 2022. The Board of Trustees confirms that the annual report and financial statements of the Charity comply with current statutory requirements, the requirements of the Charity's governing document and the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities (revised 2005)'.
Structure, governance and management
The 5 Trustees are:
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David Kofi Ahinful
-
John Scott Dalrymple-Hayfron
-
Mercy Longdon
-
Michaela Nyamekye Gyamfi
-
Faustina Mensah
The Trustees play a primary role in ensuring good governance and functioning of the foundation. The Board’s role, functions and responsibilities are quite clearly defined.
Governing document:
Power of Prayer in the House of Prayer Ministry is an unincorporated charitable organisation formed on 1 September 2020 and registered as a charity on 1 September 2020. The charity is governed by a CIO 1 September 2020.
Recruitment and appointment of trustees:
The members of the General Trustee Board are trustees for the purposes of charity law. New trustees may be appointed by resolution of a meeting of the trustees.
Much of the charity's work focuses upon the promotion of the Christian religion and the running and maintenance of its places of worship.
The General Trustee Board seeks to ensure that the needs of this group are appropriately reflected through the diversity of the trustee body. To enhance the potential pool of trustees, the charity has, through selective advertising and networking with voluntary organizations active in the sector, sought to identify those who would be willing to become members of the charity and use their own experience to assist the charity.
Risk Management:
We are committed to a policy of identifying, monitoring and managing the risks that might adversely affect the activities in which we are involved. In this context, risk is defined as the potential to fail to achieve charity objectives and for loss, financial and reputational, inherent in the environment in which we operate in the nature of the transactions undertaken.
The principal risk of the charity has been its dependence on voluntary income. Trustees have initiated various processes to mitigate such risk, so that the charity has sufficient reserve in the event of adverse condition(s).
The trustees have also examined other operational and business risks which they face and confirm that they have taken steps to mitigate the significant risks.
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POWER OF PRAYER IN THE HOUSE OF PRAYER MINISTRY
TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2022
Public Benefit:
The Trustees have complied with the duty in Section 4 of the Charities Act 2006 and have paid due regard to public benefit when preparing this report. The benefit provided to the public is consistent with the aims of the charity in UK.
Objectives and activities:
To advance Christian Evangelism in London and throughout England for the benefit of the public, mainly but not exclusively through the holding of prayer meetings, celebration of religious festivals, religious education, enlightening others about the Christian faith and to provide outreach and pastoral care for the community.
Financial review:
The largest contribution to the charity for the year came from general offerings. The charity has begun its charitable activities from September 2020.
The Charity currently aims to designate the total fund received less expenses for the main objective of the charity.
Plans for future periods:
The Charity plans to develop various fundraising strategy to include mass marketing. Besides mass marketing and events, the charity is aiming to achieve its targets through securing donations from willing individuals.
Statement of Board of Trustees’ responsibilities:
The Board of Trustees are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice.
Charity law applicable to charities in England/Wales requires the Board of Trustees to prepare financial statements for each financial year which gives a true and fair view of the state of affairs of the Charity and of the surplus or deficit of the Charity for that period. In preparing those financial statements the Board of Trustees have:
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Selected suitable accounting policies and applied them consistently,
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Made judgments and estimates that are reasonable and prudent,
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Stated whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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Prepared the financial statements on a going concern basis (unless it is inappropriate to presume that the Charity will continue in operation).
The Board of Trustees has overall responsibility for ensuring that the Charity has an appropriate system of controls, financial and otherwise. They are also responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 1993. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the detection and prevention of fraud and other irregularities.
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POWER OF PRAYER IN THE HOUSE OF PRAYER MINISTRY
STATEMENT OF FINANCIAL ACTIVITIES (Incorporating income and expenditure account) FOR THE YEAR ENDED 31 MARCH 2022
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Unrestricted Restricted Total Funds Total Funds
Note
2022 2022 2021 2021
£ £ £ £
Incoming resources
General offerings 9,051 - - 2,300
Other income - - -
Total Incoming resources 9,051 - - 2,300
Resources expended
Direct charitable expenditure 1,200 - - -
Governance costs 420 - - 840
Total Resources expended - - 840
1,620
Movement in total fund for the year-
Net income / (expenditure) For the 7,431 - - 1,460
year
Fund balance brought forward 1,460 - - -
8,891 - - 1,460
Prior Year Adjustment - - - -
Fund balance carried forward
8,891 - - 1,460
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