2023-02-28-accounts - Cambridge Bethel Pentecostal Church

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CAMBRIDGE BETHEL PENTECOSTAL CHURCH

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28[th] FEBRUARY 2023

CHARITY NUMBER: 1191284

CAMBRIDGE BETHEL PENTECOSTAL CHURCH 17 PEARSON CLOSE MILTON CAMBRIDGE CB24 6YS

INDEX Page Index 1 Legal & Admin 2 Trustee’s Report 3 -4 Independent Examiner’s Report 5 Receipts and Payments Account 6 Statement of Assets and Liabilities 7 Notes on the financial Statements 8

CAMBRIDGE BETHEL PENTECOSTAL CHURCH

LEGAL & ADMINISTRATIVE DETAILS YEAR ENDED 28[TH] FEBRUARY 2023

ADDRESS FOR CORRESPONDENCE

17 PEARSON CLOSE MILTON CAMBRIDGE CB24 6YS

REGISTERED CHARITY NUMBER 1191284

GOVERNING DOCUMENT

CIO - ASSOCIATION 15[TH] SEPTEMBER 2020.

TRUSTEES/ DIRECTORS

Mr Abraham Varghese, Mr Roy Raju, Mr Iype Kurian Mr Josekutty Varghese, Mr George Thayil, Mr Alexander Pappachen, Mr Abinesh Ipe

PRINCIPAL BANKERS

HSBC BANK 63- 64 ST ANDREWS STREET CAMBRIDGE CB2 3BZ

ACCOUNTANTS

FRESH FIRE ORGANISATION GENERATOR BUSINESS CENTRE 95 MILES ROAD MITCHAM CR4 3FH

CAMBRIDGE BETHEL PENTECOSTAL CHURCH TRUSTEES’ REPORT YEAR ENDED 28[TH] February 2023

The trustees are pleased to present their report for the year ended 28[th] February 2023 for the charity, Cambridge Bethel Pentecostal Church with Charity Number 1191284.

The Trustees of the charity are: Mr Abrham Varghese, Mr Rojy Raju, Iype Kurian Mr Josekutty Varghese, Mr Alexander Pappachen Mr George Thayil, Mr Abhinesh Ipe

The principal address of the charity is: 17 Pearson Close Milton Cambs CB24 6YS

STRUCTURE, GOVERNANCE AND MANAGEMENT

The Charity governing document is a CIO—Association that was registered on 15[th] September 2020.The Charity is governed by a board on which the trustees are represented. It meets regularly to review, plan activities and monitor the financial position.

OBJECTIVES AND ACTIVITIES

The Objects of the organisation are to advance the Christian Religion [in accordance with the Statement of faith], to relieve sickness and financial hardship and to advance education throughout the world as the trustees may see 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.

ACHIEVMENTS AND PERFORMANCE

The Organisation continues to hold successful services through the year in which individuals were equipped and educated on the principles and doctrines of the Christian faith. This year the church moved into new premises and spent some money renovating the new premises. The church also continues to impact the community in a positive way with its outreaches, youth meetings, ladies’ fellowship and various church events. Due to the pandemic all services and meetings were held online. The CIO was adopted on 15/09/20 and the assets of the charity that the church was previously operating under was transferred to this new CIO.

FINANCIAL REVIEW

The income of the charity is above £72,000. The assets of the charity were transferred from a previous charity that closed down. The costs have been managed over this period. The charity is in a good position to develop itself in the community. The church used some of its reserves in renovating the new property that it now occupies.

FUTURE DEVELOPMENTS

The church intends to continue to host its regular annual convention in the UK. They will continue to hold their regular Sunday services, their Sunday school for children aged from 3 to 16 years old, their youth meetings, their ladies’ fellowship and their outreach programmes. The intended re-appointment of our present independent examiner at the upcoming trustee meeting is expected to support the financial operations by making it more effective.

RESERVE POLICY

It is the policy of the Charity to maintain unrestricted funds, which are the reserves of the charity at about 3 months of unrestricted expenditure.This provides sufficient funds to cover any emergency expenditures that may arise from time to time. The charity will seek to maintain this level throughout the year. The church has met its reserves policy during the financial year.

RISK MANAGEMENT

The charity have 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:

Select suitable accounting policies and apply them consistently.
Make judgements and estimates that are reasonable and prudent.
State whether the applicable accounting standards have been followed.
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.

Approved by the Trustees on 31[st ] August 2023 and signed on their behalf by:

Independent Examiner’s Report To the Trustees CAMBRIDGE BETHEL PENTECOSTAL CHURCH

I report on the accounts of the church for the year ended 28[th ] February 2023 set out on the following pages which have been prepared on the basis of the accounting policies shown in the corresponding pages.

Respective responsibilities of trustees and examiner

The trustees of the church are responsible for the preparation of accounts: they consider that the audit requirement under section 144(2) of the Charities Act 2011 (the 2011 Act),does not apply. It is my responsibility to :

Examine the accounts under section 145 of the 2011 Act.
Follow the procedures laid down in the General Directions given by the Charity Commissioners made under section 145(5)(b) of the 2011 Act.
State whether particular matters have come to my attention.

Basis of Independent examiner’s report

My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the church and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as 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 view given by 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 aspect, the trustees have not met the requirements to ensure that:
proper accounting records are kept( in accordance with section 130 of the 2011 Act
accounts are prepared which agree with the accounting records and comply with the accounting requirements of the 2011 Act: or
(2) to which , in my opinion , attention should be drawn in order to enable a
proper understanding of the accounts to be reached.

Chuks Ajuka BSc(Man), FICB PMDip FRESH FIRE ORGANISATION Unit 5 Generator Business Centre 95 Miles Road Mitcham Surrey CR4 1LT

		CAMBRIDGE BETHEL PENTECOSTAL CHURCH	CAMBRIDGE BETHEL PENTECOSTAL CHURCH	CAMBRIDGE BETHEL PENTECOSTAL CHURCH

		ACCOUNTS FOR THE YEAR ENDED 28th February 2023

1	Receipts & Payments Account(General		Purpose Fund)

	Income Receipts		2023/£	2022/£

	Donations		72259	58266
	Interest		498	7
	Gift Aid		0	11323
	Total Receipts		72757	69596

	Direct Charitable Expenditure
	Insurance		823	129
	Speakers expenses		1900	696
	Hall Hire		700	130
	Travel & Substitence		338	64
	Church progams		250	649
	Consultancy		649	0
	Admin		641	0
	Events		1900	0
	Welfare		119	550
	Mission		4652	11270
	Repairs & Maintenance		2731	1097
	Charity		1015	0
	Subscriptions		473	1200
	Volunteer Expenses		100	0
	Security		510	510
	Light and heat		3443	1691
	Web Hosting		282	0
	Media Services		0	1015
	Refreshments		3272	1526
	Pastors allowance		8425	5550
	Professional fees		2259	2242
	Accounting Services		500	500
	Postage		32	0
	Books & Stationery		0	388
	Telephone & Internet		412	356
	Advertisement costs		0	1955
	Supplies & Materials		1845	1535
			37271	33053
	Other Expenditure
	Fixtures & Fittings		0	0
	Bank		123	20
	Instrument		514	0
	StationaryEquipment		0	1043
	Total Payments		37908	34116
	Net Receipts/Payments for theyear		34849	35480
	Cash Funds at start ofyear		122351	86871
	Cash Funds at end ofyear		157200	122351

CAMBRIDGE BETHEL PENTECOSTAL CHURCH

2 Statements of Assets and Liabilities at 28th February 2023

Cash Funds Bank Cash Funds Debtors Total Assets Retained for the Charity's Own use Fixtures & Fittings Equipments Instruments Liabilities Accounting fee NET ASSETS	Unrestricted Funds 2023/£ 157200 157200 157200 8303 4250 493 13046 500 169746	Unrestricted Funds 2022/£ 122351 122351 122351 5313 10379 102 15794 500 137645

Approved by the Trustees and signed on their behalf:

CAMBRIDGE BETHEL PENTECOSTAL CHURCH

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28th February 2023

ACCOUNTING POLICIES

Basis of Accounting

These accounts have been prepared on the receipts and payments basis under Charities Act 2011.

Funds

Unrestricted funds are those which can be used at the Trustees' discretion. Restricted Funds are those whose purposes have been restricted by the donor.

Staff

The church had no employee. All work was undertaken by volunteers. No trustee received rumeration from the organisation during the financial year.

Depreciation

Depreciation was calculated on loss of value of equipment and instruments on 20% using the straight line method.

FIXED ASSETS

		EquipmentFix & Fitts	EquipmentFix & Fitts	Instrument
	Cost	£	£	£	Total
	01/03/2022	26961	14764	199	41924
	Additions	0	0	514	514
	28/02/2023	26961	14764	713	42438
Depreciation
	01/03/2022	16582	9451	97	26130
	Charge	2076	1063	123	3262
	28/02/2023	18658	10514	220	29392
NBV	01/03/2022	10379	5313	102	15794
NBV	28/02/2023	8303	4250	493	13046