CAMBRIDGE BETHEL PENTECOSTAL CHURCH
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28[th] FEBRUARY 2024
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
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CAMBRIDGE BETHEL PENTECOSTAL CHURCH
LEGAL & ADMINISTRATIVE DETAILS YEAR ENDED 28[TH] FEBRUARY 2024
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
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CAMBRIDGE BETHEL PENTECOSTAL CHURCH TRUSTEES’ REPORT YEAR ENDED 28[TH] February 2024
The trustees are pleased to present their report for the year ended 28[th] February 2024 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. During the financial year the church made major renovations in the building and a large proportion of its income went towards the upgrade of its premises.
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FINANCIAL REVIEW
The income of the charity is above £100,000. 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:
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Select suitable accounting policies and apply them consistently.
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Make judgements and estimates that are reasonable and prudent.
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State whether the applicable accounting standards have been followed.
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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 15[th ] October 2024 and signed on their behalf by:
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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 2024 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 :
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Examine the accounts under section 145 of the 2011 Act.
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Follow the procedures laid down in the General Directions given by the Charity Commissioners made under section 145(5)(b) of the 2011 Act.
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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;
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(1) which gives me reasonable cause to believe that, in any material aspect, the trustees have not met the requirements to ensure that:
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proper accounting records are kept( in accordance with section 130 of the 2011 Act
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accounts are prepared which agree with the accounting records and comply with the accounting requirements of the 2011 Act: or
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(2) to which , in my opinion , attention should be drawn in order to enable a
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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
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CAMBRIDGE BETHEL PENTECOSTAL CHURCH
ACCOUNTS FOR THE YEAR ENDED 28th February 2024
1 Receipts & Payments Account (General Purpose Fund)
| Income Receipts Donations Interest Gift Aid Total Receipts Direct Charitable Expenditure Insurance Speakers expenses Hall Hire Travel & Substitence Church progams Consultancy Admin Events Welfare Mission Repairs & Maintenance Charity Subscriptions Volunteer Expenses Security Light and heat Web Hosting Media Services Refreshments Pastors allowance Professional fees Accounting Services Postage Books & Stationery Telephone & Internet Cleaning Supplies & Materials Other Expenditure Fixtures & Fittings Bank Instrument Stationary Equipment Total Payments Net Receipts/Payments for the year Cash Funds at start of year Cash Funds at end of year |
2024/£ 86660 1837 15005 103502 867 5125 3546 2479 6339 1051 544 2445 6874 4420 38318 250 194 150 438 3486 131 187 6732 7500 37339 500 0 1125 569 127 7219 137955 4372 194 513 1771 144805 -41303 157200 115897 |
2023/£ 72259 498 0 |
|---|---|---|
| 72757 | ||
| 823 1900 700 338 250 649 641 1900 119 4652 2731 1015 473 100 510 3443 282 0 3272 8425 2259 500 32 0 412 0 1845 |
||
| 37271 0 123 514 0 |
||
| 37908 34849 122351 |
||
| 157200 |
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CAMBRIDGE BETHEL PENTECOSTAL CHURCH
2 Statements of Assets and Liabilities at 28th February 2024
| Cash Funds Unrestricted Funds 2024/£ Bank 115897 Cash Funds 115897 Debtors Total 115897 Assets Retained for the Charity's Own use Fixtures & Fittings 6898 Equipments 8059 Instruments 805 15762 Liabilities Accounting fee 500 NET ASSETS 131159 Approved by the Trustees and signed on their behalf: ____________ |
Unrestricted Funds 2023/£ 157200 157200 157200 8303 4250 493 13046 500 169746 |
|---|---|
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CAMBRIDGE BETHEL PENTECOSTAL CHURCH
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28th February 2024
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 1 employee. All other 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
| Equipment | Fix & Fitts | Instrument | |||
|---|---|---|---|---|---|
| Cost | £ | £ | £ | Total | |
| 01/03/2023 | 26961 | 14764 | 713 | 42438 | |
| Additions | 1771 | 4372 | 513 | 6656 | |
| 28/02/2024 | 28732 | 19136 | 1226 | 49094 | |
| Depreciation | |||||
| 01/03/2023 | 18658 | 10514 | 220 | 29392 | |
| Charge | 2015 | 1724 | 201 | 3940 | |
| 28/02/2024 | 20673 | 12238 | 421 | 33332 | |
| NBV | 01/03/2023 | 8303 | 4250 | 493 | 13046 |
| NBV | 28/02/2024 | 8059 | 6898 | 805 | 15762 |
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