POWER OF GOD EVANGELICAL MINISTRY
Report And Financial Statements For The Year Ended 31 October 2021
CHARITY NO: 1191853
POWER OF GOD EVANGELICAL MINISTRY FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2021
| Contents | Page |
|---|---|
| Legal and Administrative Information | 1 |
| Report of the Trustees | 2-5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 |
| Notes forming part of the financial statements | 8-11 |
POWER OF GOD EVANGELICAL MINISTRY FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2021
The Trustees present its report and financial statements for the year ended 31 October 2021
Legal and Administrative information
Charity Name: Power of God Evangelical Ministry (POGEM)
Charity Registration Number: 1191853
Operational Address: 485 Slade Road, Stockland Green, Birmingham. B23 7JG Trustees: Motolani Taiwo Akinola (Chair) Joy Ogbonnaya Elizabeth Modupe Esuruoso Fatimehin Foluso Juliet Esther Titilayo Akinola Omitoyin Oladoyin Olumide Bankers: Natwest Bank Plc
POWER OF GOD EVANGELICAL MINISTRY FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2021
Our Aims and Objectives
Purpose and Aims
The company is a charity with a primary objective to reach out to people about the Christian faith with focus within England and Wales
The objects of the charity are:
a) To advance the Christian faith in accordance with the statement of belief appearing in the schedule hereto in parts of the United Kingdom or the world as the trustees may from time to time think fit and to fulfill such other purposes which are exclusively charitable according to the law of England and Wales and are connected with the charitable work of the trust.
b) To relieve persons who are in conditions of need or hardship or who are aged or sick and to relieve the distress caused thereby in the said location and in such other parts of the United Kingdom or the world as the trustees may from time to time think fit.
Ensuring Our Work Delivers Our Aims
We review our aims, objectives and activities each year. This review looks at what we achieved and the outcomes of our work in the previous 12 months. The review looks at the success of each key activity and the benefits they have brought to those groups of people we are set up to help. The review also helps us ensure our aim, objectives and activities remained focused on our stated purposes. We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aim and objectives and in planning our future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives they have set.
The Focus of Our Work
Our main objectives for the year continued to be the advancement of the Christian religion and to strive to improve the living condition of the needy. The strategies we applied to meet these objectives included:
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Provision of church services to minister to the physical, spiritual and material needs of the congregation.
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Provision of special events and meetings to meet the specific needs of target groups in the church such as men, women, youth and children.
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Focusing on the material needs of certain members undergoing difficult financial situations.
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Working with other Christian agencies and churches to advance the preaching of the Gospel.
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Provision of pastoral care for the members and other members of the community.
POWER OF GOD EVANGELICAL MINISTRY FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2021
How Our Activities Deliver Public Benefit
Our main activities and who we try to help are described below. All our charitable activities focus on the advancement of the Christian religion and the relief of poverty.
a. Ministering to the spiritual needs of the people through Bible study, prayer meetings, and counselling session.
b. Our focus as a ministry and church is the outreach for souls.
Who used and benefited from our services?
Our church services are presented with both the regular congregant and the visitor or seeker in mind. We minister to the physical, mental, and spiritual needs of the members in our services giving specific consideration to the seekers or newcomers in our midst who may not necessarily have a church background and as such may not understand the processes and procedures of Christianity.
We have also helped relieve poverty and hardship amongst both regular and irregular congregants who are suffering from a period of financial hardship due to unemployment and lack of financial resources.
Principal Funding Sources
The principal funding sources for the charity are currently by way of donations and gifts from congregants through offerings, tithes, and gifts.
Recruitment and Appointment of Trustees
The trustees who are also charity trustees for the purposes of charity law are in charge of the strategic direction of the charitable trust. Under the requirements of the Declaration of Trust the trustees are elected to serve for a period of three years after which they must be re-elected at the next Annual General Meeting.
All trustees give their time voluntarily and receive no benefits from the charity.
Due to the nature of church work, trustees appointed have been so selected on the basis of their faith, strength of character, skills set in the area of business management and growth and commitment to the vision of the charity.
POWER OF GOD EVANGELICAL MINISTRY FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2021
Trustees Induction and Training
Most trustees are already familiar with the practical work of the charity having been friends of the church for a number of years. Additionally, new trustees are invited and encouraged to function in the capacity as friends of the church in order to understand the offerings of the church and its market.
Additionally, new trustees would be invited as required and encouraged to attend a series of short training sessions to familiarise themselves with the charity and the context within which it operates. These sessions would be jointly led by the Chair of Trustees of the Charity and cover:
o The Obligations of Trustees
o The Main documents which set out the operational framework for the charity include the Declaration of Trust.
o Resourcing and the current financial position as set out in the latest published accounts o Future plans and objectives
A Question & Answer pack would be prepared which draws information from various Charity Commission publications signposted through the Commission's guide "the Essential Trustee" as a follow-up to these sessions. This will be distributed to all new trustees along with the Memorandum and Articles and the latest financial statements.
Risk Management
The Trustees have identified the major strategic risks to which POGEM are exposed and established controls and actions to mitigate them. Each year, risk assessments is carried out and are subject to continual review and monitoring. The Trustees take all appropriate steps to moderate and manage the inevitable operational risks to which volunteers and assets of POGEM are exposed. Competence-based training for Volunteers and monitoring of new legislative requirements are examples of steps taken. In particular, there are policies and procedures for children and vulnerable adults protection and for health and safety risks. Furthermore, a risk register is to be established and update at least annually.
POWER OF GOD EVANGELICAL MINISTRY FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2021
Responsibilities of the Trustees
Charity law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable trust as at the balance sheet date and and of its incoming resources and applications of resources, including income and expenditure, for the financial year. In preparing those financial statements the Trustees should follow best practice and :
o Select suitable accounting policies and then apply them consistently;
o Make judgements and estimates that are reasonable and prudent
o Prepare the financial statements on the on going basis unless it is inappropriate to presume that the charity will continue on that basis.
The Trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enables them to ensure that the financial statements comply with Companies Act 2006. The Trustees are also responsible for safeguarding the assets
of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Members of the Board of Trustees
Members of the Board of Trustees, and trustees for the purpose of charity law, who served during the year and up to the date of this report are set out on page 1.
In accordance with charity law, as trustees, we certify that:
So far as we are aware, there is no relevant information of which the company's accountants are unaware; and as the trustees of the charity we have taken all steps that we ought to have taken in order to make ourselves aware of any relevant information and to establish that the Charity's accountants are aware of that information.
This report has been prepared, By order of trustees:
Mrs Motolani Taiwo Akinola
Trustee
POWER OF GOD EVANGELICAL MINISTRY Statement of Financial Activities for the year ended 31 October 2021
| Notes INCOMING RESOURCES Incoming resources from general funds Voluntary income (Tithes & Offerings) Total incoming resources 2 RESOURCES EXPENDED Charitable activities Resources expended on charitable activities 3 Resources expended on other charitable activities Support Costs Management Governance Costs 5 Total resources expended NET INCOMING RESOURCES RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
2021 Unrestricted Funds £ 2,646 2,646 1,265 1,028 200 2,493 153 - 153 |
2021 Total Funds £ 2,646 2,646 |
|
|---|---|---|---|
| 1,265 1,028 200 |
|||
| 2,493 | |||
| 153 - 153 |
|||
CONTINUING OPERATIONS
All incoming resources and resources expended arise from continuing activities.
The notes form part of these financial statements
POWER OF GOD EVANGELICAL MINISTRY
Notes forming part of the financial statements for the year ended 31 October 2021
| Notes CURRENT ASSETS Cash at bank and in hand Creditors: Amounts Falling Due Within One Year 4 NET CURRENT ASSETS (LIABILITIES) TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS Income and Expenditure Account MEMBERS' FUNDS |
2021 £ 593 |
£ 153 |
|---|---|---|
| 593 (440) |
||
| 153 | ||
| 153 | ||
| 153 | ||
| 153 |
The financial statements were approved by the Board of Trustees on 31 August 2021 and were signed on its behalf by:
Mrs. Motolani Taiwo Akinola Trustee Chair
POWER OF GOD EVANGELICAL MINISTRY
Notes forming part of the financial statements for the year ended 31 October 2021
1. ACCOUNTING POLICIES
Accounting convention
The financial statements have been prepared under the historical cost convention, the Charities Act 2011 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities.
Financial Reporting Standard Number 1
Exemption has been taken from preparing a cash flow statement on the grounds that the charity qualifies as a small charity.
Incoming resources
All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
Resources expended
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.
Taxation
The charity is exempt from tax on its charitable activities.
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.
POWER OF GOD EVANGELICAL MINISTRY
Notes forming part of the financial statements for the year ended 31 October 2021
Detailed Statement of Financial Activities for the year ended 31 October 2021
2. NET MOVEMENTS IN FUNDS
2021 £ Restricted Funds 153
This page does not form part of the statutory financial statements
| 3. MOVEMENT IN | |||
|---|---|---|---|
| FUNDS | |||
| Incoming | Resources | Movement | |
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted | |||
| funds: | |||
| General fund | 2,646 | 2,493 | 153 |
POWER OF GOD EVANGELICAL MINISTRY
Notes forming part of the financial statements for the year ended 31 October 2021
| 4. Creditors: amount due within one year Other creditors 5. Unrestricted Funds At 1 October 2020 Unrestricted Funds for the year At 31 October 2021 |
2021 £ 440 |
|---|---|
| 440 | |
| 2021 £ - 153 |
|
| 153 |
POWER OF GOD EVANGELICAL MINISTRY Detailed Statement of Financial Activities
for the year ended 31 October 2021
| INCOMING RESOURCES Voluntary income Tithes, Offerings & Gifts Total incoming resources RESOURCES EXPENDED Charitable activities Ministry Governance costs Professional fee Costs of Generating Voluntary Income Administration Outreach & Publicity Welfare & Hospitality Total resources expended Surplus for the year |
2021 £ 2,646 |
|---|---|
| 2,646 | |
| 1,265 | |
| 1,265 | |
| 200 | |
| 224 600 204 |
|
| 1,028 | |
| 2,493 153 |