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2024-04-11-accounts

Prayer Power Network

Trustees’ annual report for the period ended April 2024

Charity Number: 1192591

PRAYER POWER NETWORK (aka PPN)

Report and Financial Statements for the period ended 11 April 2024

Prayer Power Network

Trustees’ annual report

for the period ended April 2024

Reference and administrative information for the period ended 11 April 2024

Charity number : 1192591

Registered office and operational address

2 Gladedale Avenue, Leeds, LS8 3LA

Trustees

Trustees who served during the period and up to the date of this report were as follows: Pastor Henry Ndudi Onyirioha

Mrs Joy Obianuju Onyirioha Mrs Ima-Abasi Sam Dr Bright Robert

Independent Examiner

Diamond Tax & Consulting Landmark Space 170 Midsummer Boulevard Milton Keynes MK9 1BP

Bankers

NATWEST Bank 81 High Street Bedford MK40 1YN

Prayer Power Network Trustees’ annual report

for the period ended April 2024

The Trustees present their report and the unaudited financial statements for the period ended April 2024.

Reference and administrative information set out on page 1 forms part of this report. The financial statements comply with current statutory requirements, the Charity’s constitution, and the Statement of Recommended Practice - Accounting and Reporting by Charities: SORP applicable to charities preparing their accounts in accordance with FRS 102.

Objectives and activities

The Charity aims to benefit the public through the advancement of the Christian faith, developing the potentials of individuals so they can be the best Christians within their community for the overall enhancement of the community experience.

Our objectives and activities are:

The Trustees review the aims, objectives, and activities of the charity each year. This report looks at what the charity has achieved and the outcomes of its work in the reporting period. The Trustees report the success of each key activity and the benefits the charity has brought to those groups of people that it is set up to help. The review also helps the Trustees ensure the charity's aims, objectives and activities remained focused on its stated purposes.

The Trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning its future activities. In particular, the Trustees consider how planned activities will contribute to the aims and objectives that have been set.

Achievements and performance

The Charity's main activities and who it tries to help are described below. All its charitable activities focus on the general public and are undertaken to further Prayer Power Network’s charitable Purposes for the public benefit.

Activities undertaken to further the purpose of the charity for public benefit are:

Through the above activities undertaken by the charity, the charity was able to further the charity’s purposes for the public benefit to advance the Christian faith, provide an online worship experience for the public, raise awareness and understanding of Christian beliefs and carry out outreach work through weekly and special events and programmes. The activities of the charity has made a difference in

Prayer Power Network

Trustees’ annual report

for the period ended April 2024

relationships in the homes of those who participated as they were able to practice the Christian beliefs they imbibed in the charity’s activities and events. The Christian faith of participants have been enhanced and edified by the charity’s activities and events.

Financial review

During the period the Charity received a total of £ 57,436 from donations from members. The charity is not yet registered for Gift Aid during this period. The financial results for the period are shown in the annexed accounts.

Reserves policy

It is the policy of the Charity to work towards holding the minimum reserves necessary to enable the Charity to meet its commitments for a minimum period of three months.

Structure, governance, and management

The organisation is a charitable incorporated organisation, registered as a charity on 30th November 2020 in England and Wales. The Charity is constituted under a constitution dated 20th October 2020.

The Management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Charity’s Constitution.

Risk management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure. appropriate controls are in place to provide reasonable assurance against fraud and error.

Prayer Power Network

Trustees’ annual report

for the period ended April 2024

Statement of responsibilities of the trustees

Law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the charity's financial activities during the period and of its financial position at the end of the period. In preparing financial statements giving a true and fair view, the Trustees should follow best practice and:

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011. They 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.

The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

The Trustees’ annual report has been approved by the trustees on 07/11/2024 and signed on their behalf by

Pastor Henry Onyirioha Chairman

Prayer Power Network

Trustees’ annual report

for the period ended April 2024

Independent Examiners Report

To The Members of Prayer Power Network

Independent Examiners Report

CHARITY COMMISSION FOR ENGLANO AND WALES Independent examinerfs report on the accounts Section A Independent Examiner's Report Report to the trusteesl members of Charty Na PRAYER POWER NETWORK On accounts for tho year ended 1111M12024 Charity no lif any) 1192591 Set out on pages 1.4[rwt￿thr to pag• nurthrs of¥&y￿0n¥I shwlNI I report to the trustees on my examination of the accounts of the above harity ('the Trust") for the year ended 11104 12024. Responsibilities and basis of report As the chaiitys trustees, you are responsible for the preparation of the accounts in accordance wrth the requirements of the Chanties Act 2011 (llhe Ad'}. I report in r8sp8ci of my examination of the Trust's accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directsons given by the Charrty Commission under section 145(5)(b) of the Ad. Independent I have ¢omplet8d my examination. I confirm that no material matters hav6 examinerfs Statsmont come to my attention in connection with the examination which gives me cause to believe that in, any material respect.. . the accounting reccfds were not keprt in ac￿rdance with s8Ction 130 of th8 Charities Act., or . the accounts did not accord with the accounting records., or the accounts did not comply with Ihe applicable requirements con¢erning the fomi and content of accounts set out in the Chanties (Accounts and Reports) Regulations 2008 other than any requirement that the accounts giv8 a Irue and fairf view vthich is not a matter considered as part of an independent examination. I have no ¢oncems and have come across no other matters in connection with the examination to which attenlion should be drawn in this report in order to enable a proper understandirvJ of the accounts to be reached. Dats: 2810112025 Signed: Name.. Oladipupo Akinfaye Relevant professional qualification(s) or body lif any): FCCA Address: Landmark Space, 170 Midsummer Boulevard IER Oct 2018

Milton Keynes MK9 IBP Section B Disclosure Only complete if the examiner needs to highlight rnalerial matters of concern (see CC32, Independent examination of charity accounts: directions and guidance for examiners). Glv8 here brief detalls of any items that the examiner wishes to disclose. IER Oct 2018

Prayer Power Network Prayer Power Network 1192591
Receipts andpayments accounts CC16a
For the period
from		 Apr-23 To Apr-24
Section A Receipts and payments Section A Receipts and payments
A1 Receipts Unrestricted
funds
to the nearest £
53,138
-
-
-
-
-
-
-

53,138
-
-
-
53,138
5,430
1,235
669
3,707
85
595
1,295
1,019
987
16,981
1,130
33,131
-
-
-
33,131
20,006
-
- 4,818
15,188		 Restricted
funds
to the nearest £
4,298
-
-
-
-
-
-
-
4,298
-
-
-
4,298
-
-
-
-
-
-
-
-
-
-
-
-
-
-
4,298
-
-
4,298		 Endowment
funds
to the nearest £
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Total funds
to the nearest £
57,436
-
-
-
-
-
-
-
57,436
-
-
-
57,436
5,430
1,235
669
3,707
85
595
1,295
1,019
987
16,981
1,130
33,131
-
-
-
33,131
24,305		 Last year
to the nearest £
Donations & Legacies 53,138 -
- -
- -
- -
- -
- -
- -
- -
Sub total(Gross income for
AR)
53,138		 -
A2 Asset and investment sales,
(see table).
-
-
 -
~~Sub total~~ - -
Total receipts
A3 Payments
-
Grants and Donations 5,430 -
Subscriptions 1,235 -
IT software and Equipment 669 -
Electricity 3,707 -
Catering 85 -
Travel 595 -
HMRC 1,295
Pension 1,019
Accomodation 987 -
Salary 16,981 -
Sundry 1,130 -
**Sub total ** 33,131 -
A4 Asset and investment
purchases, (see table)
-
-
**Sub total ** - -
Total payments
Net of receipts/(payments)
A5 Transfers between funds
A6 Cash funds last year end
Cash funds this year end
-
20,006 4,298 - 24,305 -
- - - - -
- 4,818 - - - 4,818 -
15,188 4,298 - 19,487 -

CCXX R1 accounts (SS)

03/02/2025

1

Section B Statement of assets and liabilities at the end of the period Section B Statement of assets and liabilities at the end of the period Section B Statement of assets and liabilities at the end of the period
Categories
Signed by one or two trustees on
behalf of all the trustees
B5 Liabilities
B3 Investment assets
B2 Other monetary assets
B4 Assets retained for the
charity’s own use
B1 Cash funds		 Details
Details
Total cash funds
(agree balances with receipts and payments
account(s))
Details
Details
Details
Signature
HenryOnyirioha		 Unrestricted
funds
Restricted
funds
to nearest £
to nearest £
-
-
-
-
-
-
-
-
Agreement Error
Agreement Error
Unrestricted
funds
Restricted
funds
to nearest £
to nearest £
-
-
-
-
-
-
-
-
-
-
-
-
Fund to which
asset belongs
Cost (optional)
-
-
-
-
-
Fund to which
asset belongs
Cost (optional)
-
-
-
-
-
-
-
-
Fund to which
liability relates
Amount due
(optional)
-
-
-
-
-
Print Name
HENRY ONYIRIOHA		 Endowment
funds
to nearest £
-
-
-
-
OK
Endowment
funds
to nearest £
-
-
-
-
-
-
Current value
(optional)
-
-
-
-
-
Current value
(optional)
-
-
-
-
-
-
-
-
-
When due
(optional)
Date of
approval
HenryOnyirioha HENRY ONYIRIOHA 30/01/2025

CCXX R2 accounts (SS)

03/02/2025

2