2022-08-31-accounts

DEVOTION CHURCH

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31[ST] AUGUST 2022

CHARITY NUMBER: 1195446

DEVOTION CHURCH ST JOHN’S DIVINE HALL HIGH PATH LONDON SW19 2JY

INDEX Page Index 1 Trustee’s Report 2 - 3 Receipts and Payments Account 4 Statement of Assets and Liabilities 5 Notes on the financial Statements 6

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DEVOTION CHURCH

TRUSTEES’ REPORT YEAR ENDED 31[ST] AUGUST 2022

The trustees are pleased to present their report for the year ended 31[st] August 2022 for the charity, Devotion Church with charity number 1158429.

The Trustees of the charity are: Benjamin Baffour Bishop Kwasi Safo- Adjei Theodosia Aboagye Akosia Fred Akwasi Akosah Nketia Safo - Adjei

The principal address of the charity is : St John’s Divine Hall High Path London SW19 2JY

STRUCTURE, GOVERNANCE AND MANAGEMENT

The Charity governing document is a CIO – Foundation Constitution registered 9[th] August 2021.The Charity is governed by a board on which the trustees are represented. It meets regularly to review, plan activities and monitor the financial position.

OBJECTIVES AND ACTIVITIES

The Objects of the organisation are for the benefit of the public to advance the Christian faith in accordance with the statement of beliefs for the benefit in the United Kingdom and in such other parts of the world as the trustees may think fit from time to time. The trustees confirm that they have had due regard to the guidance issued by the Charity Commission on public benefit before deciding what activities the charity should undertake.

ACHIEVMENTS AND PERFORMANCE

The Organisation continues to hold successful meetings through the year in which individuals were equipped and educated on the principles and doctrines of the Christian faith. The organisation also held several conferences during the year in which individuals came from all around the community to attend. This has continued to produce good results in reaching and helping members of the community.

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FINANCIAL REVIEW

The income of the charity is above £4,500. Though this is a fair amount for the year the costs have been well managed over this period. The organisation is still in a good position to manage its costs. The main cost of the organisation was paying for the rent of its building that it uses for worship services.

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RESERVE POLICY

It is the policy of the Charity to maintain unrestricted funds, which are the reserves of the charity at about 3 months of unrestricted expenditure. This provides sufficient funds to cover any emergency expenditures that may arise from time to time. The charity will seek to maintain this level throughout the year.

RISK MANAGEMENT

The charity have assessed all the major risks to which the charity is exposed to, in particular those related to operations and finances of the charity, and are satisfied that systems are in place to mitigate exposure to major risks.

TRUSTEE RESPONSIBILITIES

Under the Charities Act 2011,the trustees are required to prepare a statement of accounts for each accounting year which gives a true and fair view of the state of the church. They are required to:

1. Select suitable accounting policies and apply them consistently.

2. Make judgements and estimates that are reasonable and prudent.

3. State whether the applicable accounting standards have been followed.

4. Prepare financial statements on an ongoing basis.

They are responsible for keeping proper records which disclose with reasonable accuracy the finances of the church at any time and to ensure that such accounts comply with the Charities Act 2011.They also have a responsibility to safeguard the assets of the church and to take reasonable steps to detect fraud or other irregularities.

Approved by the Trustees on 12[th] June 2023 and signed on their behalf by:

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DEVOTION CHURCH

ACCOUNTS FOR THE YEAR ENDED 31st August 2022

**1 **	Receipts & Payments Account (General	Purpose Fund)
	Income Receipts	£/ 2022
	Tithes and Offerings	4700
	Interest	0
	Total Receipts	4700
	Direct Charitable Expenditure
	Hire of Hall	2300
	Welfare	500
	Supplies	150
	Accounting services	280
	Speakers expenses	250
		3480
	Other Expenditure
		0
	Total Payments	3480
	Net Receipts/(Payments) for the year	1220
	Cash Funds brought forward	0
	Cash Funds at the end of the year	1220

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DEVOTION CHURCH

**2 **	Statements of Assets and Liabilities at 31st August 2022	Statements of Assets and Liabilities at 31st August 2022
	Monetary Assets
	Cash Funds	Unrestricted Funds
		£/2022
		£
	Cash at hand and in bank	1220
	Total Cash Funds	1220
	Assets Retained for the
	Charity's Own use
	Non-monetary Assets and Liabilities
	Musical Instruments	780
	Equipments	1140
		1920
	Liabilities
	Bookkeeping	280
	NET ASSETS	2860

These accounts were approved by the trustees and signed on their behalf by: Bishop Kwasi Safo - Adjei

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DEVOTION CHURCH

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31st August 2022

ACCOUNTING POLICIES

Basis of Accounting

These accounts have been prepared on the receipts and payments basis with all revenue and expenses shown on a cash basis. Non-monetary assets are shown at estimates of the value at the end of the year.

Funds

The CIO has a general unrestricted fund that receives voluntary donations from attendants at the services.

The CIO has no outstanding guarantees to third parties no any debts secured on the asstes of the CIO

Public Benefit

The charity acknowledges its requirement to demonstrate clearly that it must have charitable purposes or aims that are for public benefit.Details of how this is achieved are provided in the Trustees report. The trustees confirm that they have paid due regard to the Charity Commission guidance on public benefit before deciding what activities the charity should undertake.

Depreciation

Depreciation is calculated at 20% reducing balance method

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