Charity number: 1191853
POWER OF GOD EVANGELICAL MINISTRY
Report And Financial Statements For The Year Ended 31 October 2022
POWER OF GOD EVANGELICAL MINISTRY Contents Page For the year ended 31 October 2022
| Report of the Trustees | 3 - 4 | 3 - 4 |
|---|---|---|
| Independent Examiner's Report to the Trustees | 5 | |
| Statement of Financial Activities | 6 | |
| Statement of Financial Position | 7 | |
| Notes to the Financial Statements | 8 - | 10 |
| Detailed Statement of Financial Activities | 11 |
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POWER OF GOD EVANGELICAL MINISTRY
Report of the Trustees For the year ended 31 October 2022
The Trustees have pleasure in presenting their report and the financial statements for the charity for the year ended 31 October 2022. The Trustees have adopted the provisions of 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 the Republic of Ireland (FRS 102) (effective 1 January 2015).
OBJECTIVES AND ACTIVITIES
Objectives and aims.
The objectives of the Church as set out in the Declaration of Trust are:-
(a) The advancement of Christian Faith in the United Kingdom or abroad
(b) The relief of persons who are in conditions of need, hardship, or distress or who are aged sick, in the United Kingdom or abroad.
The principal activities of the Church are Christian worship and involvement of various ministries and ministers of religion in propagating Christian doctrines to members (and non-members) of the ministry at various meetings.
Statement on public benefit
The trustees have considered the Charity Commission’s guidance on public benefit, including the guidance 'public benefit: running a charity (PB2)'.
ACHIEVEMENTS AND PERFORMANCE
Achievements against objectives
The trustees are pleased to report that the Church continued to be successful spiritually by ministering to many people.
During the year the church was involved in various evangelical outreach programs all aimed at achieving its principal activities.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes an unincorporated charity.
REFERENCE AND ADMINISTRATIVE INFORMATION
Name of Charity POWER OF GOD EVANGELICAL MINISTRY Charity registration number 1191853 Principal 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 Independent examiners FKAY SOLUTIONS Suite F6, Wood Street Business Centre 195 Wood Street E17 3NU
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POWER OF GOD EVANGELICAL MINISTRY Report of the Trustees Continued For the year ended 31 Octber 2022
Approved by the Board of Trustees and signed on its behalf by
.......................................... Olanrewaju Temitayo Akinola 30 November 2023
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POWER OF GOD EVANGELICAL MINISTRY
Independent Examiners Report to the Trustees For the year ended 31 October 2022
I report to the trustees on my examination of the accounts of the charity for the year ended 31 October 2022.
Responsibilities and basis of report
As the charity trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of the charity’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiners statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair view' which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
FKAY SOLUTIONS Suite F6, Wood Street Business Centre 195 Wood Street E17 3NU
30 November 2023
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POWER OF GOD EVANGELICAL MINISTRY Statement of Financial Activities For The Year Ended 31 October 2022
| Income and endowments from: Donations and legacies Other income Other income 1 Total Expenditure on: Charitable activities Evangelism Total Net incoming/outgoing Reconciliation of funds Total funds brought forward Total funds carried forward |
Unrestricted Funds 2022 Restricted Funds 2022 Total Funds 2022 £ £ £ 4,774 - 4,774 - - - 4,774 - 4,774 5,275 - (5,275) 5,275 - (5,275) (501) - (501) 153 - 153 (348) - (348) |
Total Funds 2021 £ 2,646 - 2,646 (2,493) (2,493) 153 - 153 |
|---|---|---|
| (348) - (348) |
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POWER OF GOD EVANGELICAL MINISTRY Balance Sheet
As At 31 October 2022
| Notes Current assets Debtors Cash at bank and in hand Creditors: amounts falling due within one year Net current liabilities Total assets less current liabilities Creditors: amounts falling due after more than one year Net assets The funds of the charity Unrestricted funds Restricted funds 5 Total funds |
2022 £ |
2021 £ - 593 593 (440) 153 153 - 153 153 - 153 |
|---|---|---|
| - 91 91 (439) (348) (348) - (348) (348) - (348) |
The financial statements were approved and authorised for issue by the Board and signed on its behalf by:
Olanrewaju Temitayo Akinola Trustee 31 November 2023
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POWER OF GOD EVANGELICAL MINISTRY Notes to the Financial Statements For the year ended 31 October 2022
1. Accounting Policies
Basis of accounting
The financial statements have been prepared under the historical cost convention, except for investments which are included at market value and the revaluation of certain fixed assets and 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 2015)’, Financial Reporting Standard 102 the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), and the Charities Act 2011.
POWER OF GOD EVANGELICAL MINISTRY meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).
Funds
Unrestricted funds are available to spend on activities that further any of the purposes of charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. The aim and purpose of each designated fund is set out in the notes to the financial statements. Restricted funds are funds of the charity restricted for specific services or for educational and research projects being undertaken by the charity.
Incoming resources
All incoming resources are included in the statement of financial activities when the Charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:
Donations, grants and gifts are recognised when receivable. In the event that a donation is subject to fulfilling performance conditions before the charity is entitled to the funds, the income is deferred and not recognised until it is probable that those conditions will be fulfilled in the reporting period
Expenditure and irrecoverable VAT
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accruals basis under the following headings.
Costs of raising funds comprises fundraising costs incurred in seeking donations, grants and legacies; investment management fees; costs of fundraising activities including the costs of goods sold, shop costs, commercial trading and their associated support costs. Fundraising costs do not include the costs of disseminating information of support of the charitable activities.
Expenditure on charitable activities includes the costs of providing specialist palliative care and support, community services, research and other educational activities undertaken to further the purposes of the charity and their associated support costs.
Support costs comprise those costs which are incurred directly in support of expenditure on the objects of the charity and include governance cost, finance, and office costs. Governance costs are those costs incurred in connection with the compliance with constitutional and statutory requirements of the charity.
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POWER OF GOD EVANGELICAL MINISTRY Notes to the Financial Statements (cont’d) For the year ended 31 October 2022
Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred. Support costs are allocated to each of the activities on one of the following bases: either floor space or staff time or staff headcount depending on the nature of the support costs, to best allocate the costs to each attributable heading. More detail on the analysis and basis of allocation is given in note 11 to the financial statements.
Taxation
The charity is exempt from corporation tax on its charitable activities.
2. Income from donations and legacies
| Unrestricted funds Donations received |
2022 £ 4,774 4,774 |
2021 £ 2,646 |
|---|---|---|
| 2,646 |
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POWER OF GOD EVANGELICAL MINISTRY Notes to the Financial Statements (cont’d) For the year ended 31 October 2022
3. Other income
| 3. Other income | ||
|---|---|---|
| Unrestricted funds Other income 1 4. Costs of charitable activities by fund type Unrestricted funds Direct costs Support costs |
2022 £ - - 2022 £ 5,275 - 5,275 |
2021 £ - |
| - | ||
| 2021 £ 2,493 - 2,493 |
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POWER OF GOD EVANGELICAL MINISTRY Detailed Statement of Financial Activities For the year ended 31 October 2022
| INCOME AND ENDOWMENT Donations and legacies Donations Other income Other income 1 Total incoming resources EXPENDITURE Charitable activities Cost of direct charitable activity SUPPORT COSTS Governance costs Support costs Total resources expended Net incoming/outgoing resources |
2022 £ 4,774 4,774 - 4,774 4,774 (5,275) (5,275) (15,549) (15,549) (5,275) (501) |
2021 £ 2,646 |
|---|---|---|
| 2,646 - |
||
| 2,646 | ||
| 2,646 | ||
(2,493) |
||
| (2,493) (19,583) (19,583) (2,493) (153) |
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