Registered Charity No - 1191754
SANCTUARY OF PRAISE INTERNATIONAL MINISTRIES
Trustees’ Report and Accounts for the year ending 31 March 2024
| CONTENTS | PAGE |
|---|---|
| Legal and Administrative Details | 2 |
| Trustees' Report | 3 |
| Independent Examiners’ Report | 6 |
| Statement of Financial Activities | 7 |
| Balance Sheet | 8 |
| Notes to the Accounts | 9 |
| Detailed Statement of Financial Activities | 11 |
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REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2024
Trustees Daniel Kamara (Chair) Stephen Arhin Nora Roxana Gonzalez Charity registered Number 1191754 Date of charitable registration 12[th] October 2020 Principal office Trowbridge Community Centre 91 Caernarvon Trowbridge Cardiff CF3 1RU Independent examiners Accounting Assist Ltd C/O Good to Give Ltd Bankers NatWest Bank
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TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2024
The Board of Trustees, who are the trustees for charity law purposes, submit their annual report and the financial statements of Sanctuary of Praise International Ministries the year ended 31 March 2024. The Board of Trustees confirm 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 3 Trustees are:
Daniel Kamara (Chair) Stephen Arhin Nora Roxana Gonzalez
The Trustees play a primary role in ensuring good governance and functioning of the charity. The Board’s role, functions and responsibilities are quite clearly defined.
The Charity currently has a strong team of Advisory Board members in the UK who have helped to secure financial support and contribute to the future planning of the organisation.
Governing document:
Sanctuary of Praise International Ministries is an unincorporated charitable organisation registered as a charity on 12 October 2020. The charity is governed by a CIO document Trust deed dated 12 October 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 reputation, 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
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TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2024
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.
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 the Christian Faith throughout Wales for the benefit of the public, mainly but not exclusively, through the holding of prayer meetings and prayer camps, evangelical missions, celebration of religious festivals, distributing literature and broadcasting about Christianity to enlighten others about the Christian faith.
Plans for Future Developments:
The Charity plans to develop various fundraising strategies to include mass marketing. Besides mass marketing and events, the charity is aiming to achieve its targets through securing donations from willing individuals. A development board may be created to help include other avenues of fundraising to be included in the yearly program.
Financial review:
The largest contribution to the charity for the year came from general offerings. The charity has begun its charitable activities from April 2020.
The Charity currently aims to designate the total fund received less expenses for the main objective of the charity.
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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l-RUS'I'P.b"S' Hb.VOR-I" bY)R 'l-Hb. YV,Ak b.Nl)Tr.1) 31 MARCH 2024 Selected suiiabLe accOutl FKplicies aDd appli£d tbejn consistclltly. MaLiL judgmLnt.% SLnd L.8timaL thllt arc rL&8oiillblL and iTrrudLn( Srared "et1 applicabl¢ accoullting staDd8rds bave been followed, 5ubjECt to aDy mztcrial dePlUreS disclosed alld plaIned tbe fioattcial stateJllent5. Prcp8red (he financial SiaicmcnL£ on a going concern b&%1.% (LLnlcss il i% ittappropn&e LO iiregume Lhe ChariLy %viII conlinue in orkTalton}. IIIL Board i)f TrnStL ()I'Lrall r&%poii%ihility for Lnsurins diat thL Charity h&% an appr(?priatL' Sy8tL'in (If L()ntr()18. fJnanLial aild othl ThViSL. Th¥y olsi) rEpOnsibIl fijr [pin pr(biKr aLLauntinb recnrd di8blos¢ ivith rL&sonablL aLLuraLy at any timL rJ)c finanLtal position of thL Charitv and Labl¢ thLm ttTr cn%urc Ihai ihc financrbl sl8lcmcnls cnmply Wilh Ihc Ch&riiic* ACL 1993. They arc &181) It.gp()n%ihle ltir alcguarding thc &%gcL8 ofihc Chariiy and hcncc lor tsking rc&gonahlc gicpg Ini. thc dclcclinn and prcNcnLinn of Iraud and olhtt irrcgulAfiiic%. Thc Lloard ofTrwsica8 1$ rc8I)(Trnsiblc fnT ihc n)aTnlcnancc and IngrIlY nfihc corp()raic and financial infomi&iinn. Lcgi&lAlion in Ihc lJniled Kingth)m g()Ncrning ihc prcpar&iim And di8scminaiion (jr rinaneial %18icmenLs may dirrcr fmm Icgi4laii(bn ift oihcr jLLri%diciion4. Statement discISre nf infnrmatinn to independent examiner We. as the'l ru5tees of the Charity who lield offiLe at the (late of approval of these financial ststenients as SLt OLLt pa¥L 2 LaLh Lonfirm, 50 far WL arL am arL, that.. There is no Tclcvallt IDfotmatson of ivkn.ch ihc LlwJ"t)'8 indepeDdent exatrkitier are uDaware' and ive haiie t2k¥n ITI thL 8tty-ps that W¢ OUbTht liav¥ takbn 86 Trust¢L'S iii vrdLrto fflakL our5Llvcs awarL of any rLlcvant infornation and tt> Lstablish thatth¢ fyharity's indLpcndLllt arnILT is awarc f tliat infortnation. Independent Vjxaminer: The ChJriiy'8 ind¢pcftdcni cxamincr, Anum Il&%san. Fccil ol-AccounLing A%.%i.qi Cln CThnd i(> Criije Lid, hLve indicaicd thcii )villinghc8g (n nllcr thcm4cliJo% r()r apiN)inimcni. TIIIS TLpurt was apprLTrvLd bv thL vn and 51¥TnLd vn thiir bchalf by.. IynieL kqmq Signaturc... . ... ... .........
INDEPENDENT EXAMINER’S REPORT FOR THE YEAR ENDED 31 MARCH 2024
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SANCTUARY OF PRAISE INTERNATIONAL MINISTRIES
I report on the financial statements of the charity for the year ended 31 March 2024 which comprise the Statement of Financial Activities and Balance Sheet with associate notes.
This report is made solely to the charity's Trustees, as a body, in accordance with section 145 of the Charities Act 2011 and regulations made under section 154 of that Act. My work has been undertaken so that I might state to the charity's Trustees those matters I am required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's Trustees as a body, for my examination work.
Respective Responsibilities of Trustees and Examiner
The charity's Trustees are responsible for the preparation of the financial statements, and they consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the Act) and that an independent examination is needed.
It is my responsibility to:
-
Examine the accounts (under Section 145 of the Charities Act);
-
To follow the procedures laid down in the General Directions given by the Charity Commissioners (under Section 145(5)(b) of the Charities Act); and
-
To 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 Group/Charity 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 no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.
Independent Examiner's statement
In connection with my examination, no matter has come to my attention:
-
1) which gives me reasonable cause to believe that in any material respect the requirements: • to keep accounting records in accordance with section 130 of the Act; and
-
to prepare financial statements which accord with the accounting records and comply with the accounting requirements of the Act
have not been met; or
- 2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached.
Signed: Dated: 25/02/2025
Anum Hassan, FCCA
On behalf of Accounting Assist Ltd
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STATEMENT OF FINANCIAL ACTIVITIES (Incorporating income and expenditure account) FOR THE YEAR ENDED 31 MARCH 2024
| Unrestricted Restricted Total Funds Total Funds 2024 2024 2024 2023 Notes £ £ £ £ Incoming resources Donations 19,331 - 19,331 9,831 Other Income 130 - 130 - Total Incoming resources 19,461 0 19,461 9,831 Resources expended Direct charitable expenditure 8,700 - 8,700 10,168 Governance costs 1,185 - 1,185 810 Total Resources expended 9,885 0 9,885 10,978 Movement in total fund for the year- Net income / (expenditure) For the year 9,576 0 9,576 -1,147 Fund balance brought forward -7,409 0 -7,409 -6,262 Fund balance carried forward 2,167 0 2,167 -7,409 |
Unrestricted Restricted Total Funds Total Funds 2024 2024 2024 2023 Notes £ £ £ £ Incoming resources Donations 19,331 - 19,331 9,831 Other Income 130 - 130 - Total Incoming resources 19,461 0 19,461 9,831 Resources expended Direct charitable expenditure 8,700 - 8,700 10,168 Governance costs 1,185 - 1,185 810 Total Resources expended 9,885 0 9,885 10,978 Movement in total fund for the year- Net income / (expenditure) For the year 9,576 0 9,576 -1,147 Fund balance brought forward -7,409 0 -7,409 -6,262 Fund balance carried forward 2,167 0 2,167 -7,409 |
Unrestricted Restricted Total Funds Total Funds 2024 2024 2024 2023 Notes £ £ £ £ Incoming resources Donations 19,331 - 19,331 9,831 Other Income 130 - 130 - Total Incoming resources 19,461 0 19,461 9,831 Resources expended Direct charitable expenditure 8,700 - 8,700 10,168 Governance costs 1,185 - 1,185 810 Total Resources expended 9,885 0 9,885 10,978 Movement in total fund for the year- Net income / (expenditure) For the year 9,576 0 9,576 -1,147 Fund balance brought forward -7,409 0 -7,409 -6,262 Fund balance carried forward 2,167 0 2,167 -7,409 |
|---|---|---|
| Notes Incoming resources Donations Other Income Total Incoming resources Resources expended Direct charitable expenditure Governance costs Total Resources expended Movement in total fund for the year- Net income / (expenditure) For the year Fund balance brought forward Fund balance carried forward |
Unrestricted Restricted Total Funds Total Funds 2024 2024 2024 2023 £ £ £ £ 19,331 - 19,331 9,831 130 - 130 - |
|
| 19,461 0 19,461 9,831 |
||
| 8,700 - 8,700 10,168 1,185 - 1,185 810 |
||
| 9,885 0 9,885 10,978 |
||
| 9,576 0 9,576 -1,147 -7,409 0 -7,409 -6,262 2,167 0 2,167 -7,409 |
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BAI,ANCF, SHF.Tr."r AS A'f 31 MARCH 2024 2023 liote FIXID Delknrd 667 c.ash aLhttThTr 821 2.167 821 CREDfroiLS: aDw)unrs ling on¢year -4231 Nk'l. CVItIiKN'I' A&SL'rs 1167 -7rt09 TT ASSETS 4167 -7A19 CIIAK)'I'Y Tr"UTr4D8 Unr¢ii¢d fi$ 1167 -7.4•9 TOTALFiT4DS Il67 -7A09 Thc financial.%iawmcnL$ Ivctt appY¢d by thc Tru8lL£% and signcd on ihcir half, hy." &gnature................... . 9*Rb 2(Q Tbe noles on pages 9-1 I forn] part of th&se fanCial stateents
NOTES TO THE FINANCIAL STATEMENT FOR THE YEAR ENDED 31 MARCH 2024
1. ACCOUNTING POLICIES
1.1 Basis of preparation of financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
1.2 Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
1.3 Incoming resources
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds; it is probable that the income will be received and the amount can be measured reliably.
1.4 Resources expended
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings, they have been allocated to activities on a basis consistent with the use of resources.
1.5 Taxation
The charity is exempt from tax on its charitable activities.
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NOTES TO THE FINANCIAL STATEMENT FOR THE YEAR ENDED 31 MARCH 2024 (Continued)
2. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2024.
3. VOLUNTARY INCOME
| Other Creditors Accrued Expenses (Good to Give) Total |
2024 £ 0 0 0 |
2023 £ 6,796 1,435 |
|---|---|---|
| 8,231 |
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DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024
| INCOME AND ENDOWMENTS Donations and Legacies: Offering and Donations Tithes and Thanksgiving Gift Aid Total LESS EXPENDITURE Charitable Donations Hospitality Welfare Rent Miscellaneous Accountancy Total Net (Expenditure/Income) |
2024 £ 19,331 0 130 19,461 2024 £ 1,678 1,563 1,424 4,035 1,185 9,885 9,576 |
2023 £ 9,831 - - |
|---|---|---|
| 9,831 | ||
| 2023 £ 2,609 744 2,957 3,859 810 |
||
| 10,168 | ||
| -1,147 |
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