2024-12-31-accounts - Crossway Revival Baptist Church

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CROSSWAY REVIVAL BAPTIST CHURCH

Financial Accounts And Trustees Report 31 December 2024 Charity No. 1193779

CROSSWAY REVIVAL BAPTIST CHURCH FINANCIAL STATEMENTS AND TRUSTEES’ REPORT YEAR ENDED 31 DECEMBER 2024

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees

The trustees serving during the year and since the year end were as follows: Pastor Kumaning Gyamfi Charles Dickson Patrick Obeng

Principal office

Troy Hall Nigel Road Peckham Rye SE15 4NS

Bankers

Natwest Bank PLC

Accountants

Excel Accounting 50 Wrotham Road Gravesend Kent DA11 0QF

CROSSWAY REVIVAL BAPTIST CHURCH FINANCIAL STATEMENTS AND TRUSTEES’ REPORT YEAR ENDED 31 DECEMBER 2024

TRUSTEES REPORT

Status and Administration

The Charity is constituted and registered with the Charity Commission under charity number 1193779

Objects of the Charity

To advance the Christian faith in accordance with the statement of beliefs in London and in such other parts of the United Kingdom or the world as the Trustees may from time to time think fit. 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 London and in such other parts of the UK or the world as the trustees may from time to time think fit
To advance education in accordance with Christian principles including by means of establishing and operating any educational establishment or establishments in London and in such other parts of the UK or the world as the trustees may from time to time think fit
To promote and fulfill such other charitable purposes beneficial to the community in London and in such other parts of the UK or the world as the Trustees may from time to time think fit

Objective of the charity as laid down by the Trust Deed

The Core objects of the charity continue to be:
To establish churches, ministries and community events
To organise conventions, conferences and seminars
To carry out missionary activities and
To promote festivals, celebrations and exhibitions.

Governance and Internal Control

Trustees serve for a year period and may be re-elected. The trustees meet regularly within the year to review the strategy and performance and to set the operating plans and budgets.

Income Generation

The main source of income is from tithes, offerings and donations from members and from the gift aid system

Reserves Policy

The Trustees have decided to spend as much money as possible on furthering the core objects of the charity whilst maintaining sufficient cash funds to ensure the sustainability of the charity.

CROSSWAY REVIVAL BAPTIST CHURCH FINANCIAL STATEMENTS AND TRUSTEES’ REPORT YEAR ENDED 31 DECEMBER 2024

Investment Powers, Policy and Performance

The memorandum and articles of association, which states clear guidelines on investments policy, governs the trustees’ investments powers.

Fundraising Activities

The charity relies solely on contributions from its members and gift aid. The charity does not employ any professional fundraising bodies.

Restricted Funds

There are no restricted funds operated by the charity. All funds are available for use at the discretion of the Trustees.

Volunteers

The Charity is grateful for the unstinting effort of its volunteers who are involved in service provision. Members are given the free will, without any form of coercion, to determine their form and level of support, manually or financially to the charity.

Grant Making Policy

The Charity did not award any grants.

Risk Management

The trustees examine the major risks that the ministry faces in each financial year when preparing and updating the strategic plan. The Charity has developed systems to monitor and control these risks to mitigate any impact that they may have on the organisation in the future. Including:

An annual review of the risk which the charity may face
The establishment of systems and procedures to mitigate those risks identified in the plan
The implementation of procedures designed to minimise any potential impact on the charity should any of those risks materialise.

Accounting and Reporting Responsibilities

The Charities Act 2005 requires the trustees of the charity to prepare financial statements for each financial year which give a true and fair view of the charity’s financial activities during the year and of its financial position at the year.

In preparing the financial statements, the trustees should follow best practice and Select suitable accounting polices and apply them consistently;

Make judgements and estimates that are reasonable and prudent;
Follow applicable accounting standards and the charities SORP, disclosing and explaining any departures in the financial statement; and
Prepare the financial statements on the going concern basis unless it is inappropriate to assume that the charity will continue in operation.

CROSSWAY REVIVAL BAPTIST CHURCH FINANCIAL STATEMENTS AND TRUSTEES’ REPORT YEAR ENDED 31 DECEMBER 2024

The Trusties are responsible for keeping accounting records, which are such as to disclose, with reasonable accuracy, the financial position of the charity at any time, and to enable them as trustees to ensure that the financial statement comply with charity law. The Trustees are also responsible for safeguarding the charity‘s assets, and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Pastor Kumaning Gyamfi

CROSSWAY REVIVAL BAPTIST CHURCH FINANCIAL STATEMENTS AND TRUSTEES’ REPORT YEAR ENDED 31 DECEMBER 2024

ACCOUNTANTS’ AND INDEPENDENT EXAMINER’S REPORT

I report on the accounts of the charity for the period ended 30 April 2023, as are set out on pages 6 to 9.

Respective responsibilities of trustees and examiner

The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 43(2) of the Charities Act 1993 (the 1993 Act) or under Regulation 10(1)(a) to (c) of the Charities Accounts (Scotland) Regulations 2006 (the 2006 Regulations) and that an independent examination is needed. The charity is preparing accrued accounts and I am qualified to undertake the examination by being a qualified member of the ACCA. It is my responsibility to:

Examine the accounts under section 43 of the Charities 1993 Act and under section 44(1) (c) of the Charities and Trustee Investment (Scotland) Act 2005 (the 2005 Act);
To follow the procedures laid down in the general Directions given by the Charity Commission under section 43(7)(b) of the 1993 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 Commission and is in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006. An examination includes a review of the accounting records kept by the 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 41 of the 1993 Act and section 44 (1)(a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations; and
To prepare accounts which accord with the accounting records and comply with the accounting requirements of the 1993 Act and section 44(1) (b) of the 2005 Act and Regulation 8 of the 2006 Accounts Regulations
have not been met; or

(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Excel Accounting

CROSSWAY REVIVAL BAPTIST CHURCH FINANCIAL STATEMENTS AND TRUSTEES’ REPORT YEAR ENDED 31 DECEMBER 2024

STATEMENT OF FINANCIAL ACTIVITIES INCOMING RESOURCES Grants and Donations (Note 2) Total Incoming Resources RESOURCES EXPENDED Costs of activities in furtherance of the charity’s objects Charitable Activities (Note 3) Total Resources Expended Net Incoming/ (Outgoing) Resources Net Incoming/ (Outgoing) Resources B/F Total Funds Carried Forward	2024 2024 2024 2023 Restricted Unrestricted Total Total £ £ £ £ - 21,483 21,483 17612
	- 21,483 21,483 17,612 - 20,593 20,593 14748
	- 20,593 20,593 14,748 - 890 890 2,864 5,506 5,506 2,642
	- 6,396 6,396 5,506

There were no recognized gains or losses for the period other than those included in the Statement of Financial Activities.

CROSSWAY REVIVAL BAPTIST CHURCH FINANCIAL STATEMENTS AND TRUSTEES’ REPORT YEAR ENDED 31 DECEMBER 2024

----- Start of picture text -----
BALANCE SHEET 2024 2024 2023 2023
£ £ £ £
CURRENT ASSETS
Cash and Bank 610 5,506
Other Debtors 5,786 -
6,396 5,506
NET CURRENT ASSETS 6,396 5,506
NET ASSETS 6,396 5,506
Capital And Reserves
Equity Shareholder's Fund /
(loss) 6,396 5,506
NET ASSETS 6,396 5,506
----- End of picture text -----

We approve these accounts which comprise the Receipts & Payments, Statements of Assets & Liabilities and related notes. We acknowledge our responsibility for the accounts, including the appropriateness of the accounting basis as set out in note 1, and for providing all the information and explanations

The Financial Statements were approved by the Trustees on the ……………….….. and signed on its behalf by:

……………………..

Trustees

……………………..

Trustees

CROSSWAY REVIVAL BAPTIST CHURCH FINANCIAL STATEMENTS AND TRUSTEES’ REPORT YEAR ENDED 31 DECEMBER 2024

Notes to the Financial Statements for the year ended 31 December 2024

1 ACCOUNTING POLICIES

( A) Accounting Convention & Compliance

These accounts have been drawn up on the basis of a going concern and the financial statements prepared under the historical cost convention in accordance with applicable Standards, Financial Reporting Standards and the Charities Acts 2005. The statements comply with best practice and reflect the requirements of the revised Statement of Recommended Practice (SORP) 2005 “Accounting for Charities”

(B) Recognition of Income and Expenditure

Voluntary income is received by way of donations and gifts and is included in full in the Statement of Financial Activities in the year in which they are receivable. The value of services provided by volunteers has not been included.

Resources expended are recognized in the period in which they are incurred. Resources expended include attributable VAT which cannot be recovered.

General Funds

Revenue grants and other income and expenditure associated with the general operations of the charity and its international projects are dealt with in the General Funds.

Restricted Funds

These comprise donations, legacies or other income, the use of which has been specified by the donor.

Endowment Funds

There is currently no endowment fund.

2. Donations and Similar Incoming Resources

Tithes & offering Gift Aid Bank Interest received	2024 2024 2023 Restricted Unrestricted Total £ £ £ - 14,443 17,612 - 7,040 - - - -
	- 21,483 17,612

CROSSWAY REVIVAL BAPTIST CHURCH FINANCIAL STATEMENTS AND TRUSTEES’ REPORT YEAR ENDED 31 DECEMBER 2024

3. GOVERNANCE COSTS

3. GOVERNANCE COSTS
Rent and Rates Honorarium Donations Welfare Sundry expenses Printing, Postage & Stationary Motor & Travel Accounting Fees Music Ministry	2024 2023 £ 5,555 4,722 9,738 6,637 948 1,108 793 696 168 140 195 160 1,172 15 750 375 1,275 895
	20,593 14,748