Charity Number: 1165420 EVANGEL PENTECOST CHURCH 'Oll Tiif VL,111 F.)l)l*.11 .11) J I:.NF 21)24
EVANGEL PENTECOST CHURCH Reports and Accounts Contents Page Adminislralive Details Independent Examinerfs report Trustees Report Slalemenl of Financial Acliwlies Balance Sheet Note$ lo the Accounts
EVANGEL PENTECOST CHURCH ADMINISTRATIVE DETAILS OF THE CHARITY AND ITS TRUSTEES CHARITY NUMBER: 1195872 Board of Trustees Paul Toun Zipere Comfort Toun Iheanyi Eiiogu Nwabuludike Anthony Omezie Chris Oshirenua Adebanio Ganiyu Toluwalawi Eitare Otrofanowei Principal office address Suite 11 George Street Croydon CROIPE
EVANGEL pEECO5T CHURCH Report of Trustees The Iruslees present their report and accounts for the year ended 30 June 2024 The Trustees have adopted the provisions of the Statement of Recommended Practice ISORPI 'Accounting and Reporting by Chanlies (Revised 20051 in preparing the annual report and financi81 slalemenls of the charity. Objective of the charity as laid down by the Trust Degd The Core objects of the charty continue lo be.. To establish ehurches. ministries and community events To organise convention5, conferences and seminars To carry out missionary activitie5 and To promote festivals, celebrations and exhibitions. REVIEW OF ACTIVITIES AND FUTURE DEVELOPMENTS THE FINANCIAL STATEMENTS The slalemenl of financial adivities is sel out on page 6 of the financial $18lemenls Income Generation The main source of income is from lithes. offerings and donations from members, Investment Policy Al present the Trustees have decided to leave all surplu5 funds in the ac¢ounl wrth their principal bankers Fundraising Activities The charity relies 501ely on contributions from ils members. The ¢harty does not employ any professional fundraising bodies. Restrlcted Funds There are reslricled funds operated by the charity. The reslricled funds are soley for the purchase of church own building All other funds are available for Use al the discretion of the Trustees
EVANGEL PENIECOST CHURCH ReseThes Policy The Trustees have decided to spend as much money as possible on furthering the core objects ol the charity whilst maintaining sufficient cash funds to ensure the 5uslainability of the charity. To achieve this. the Trustees have decided lo maintain an amount in the bank account lo cover at least a minimum of three months of normal expenditure in addition to any known additional expendrture. Revlew of charity activitie$ The charity has continued to undertake activities in line with ils obieclives and has seen 9rovrth in giving lo 115 work. Govgrnanc¢ and Internal Control Appointment ol Trustees are done by the existing Trustees with consuttation ol the view ol the church members as lo IrLJStworthiness ol each person Risk Assessment The Trustees consider the key operational. financial and slalegic risks that may have a bearing on the activies ol the Charity Suitable management information is available lo thè Trustees on a regular ba51s lo monitor these risks and allow any miligaling aclion to be taken to address them. Trustees. Responsibilities Charity law requires the Trustees lo prepare financial slalements for each financial year which give true and fair vfftw of the state ol affairs ol the charily and ol rts financial activities lor the yaer. In prepararing those financial statements, the Trustees are requlre lo: 1 select suitable accounting policies and apply them consislantly., 2 make judgemenls and estimates that are reasonable and prudent., 3 state whether applicable a¢counting Standards and statements of recommended practice have been followed, subject lo any departures disclosed and explained In the financial statements". 4 prepare the financial siatements on the going concern basis unless Il Is inappropriate lo assume that the charity will not continue in operation. The Trustees are reponsible lor keeping accounting and financial records which disclose with reasonable accuracy at any lime the financial posilion of the charity and to enable them lo ensure that the financial statements cornply with the Charities Act5 1993. They are also responsible for safeguading Ihe as5esls of the charity and hence lor taking reasonable steps for the prevention and detection of fruad or other irregularities. The report was approved by the Board on the 15 March2024 and signed on ils behave by Ebilare Otrolanowei Trustee Chaimian
EVANGEL pENTET CHURCH STATEMENT OF FINANCIAL ACTIVITIES {INCOME AND EXPENDITURE ACCOUNTS) FOR THE YEAR ENDED 30 June 2024 UNRESTRICTED FUNDS 2024 2023 NOTE INCOMING RESOURCES Tithes. offerings and similar income resource5 Investment income 14.577 14,925 TOTAL INCOMING RESOUCES 14,577 14.925 RESOURCES EXPENDED Charitable activities Governance cosls 1,000 2.879 7,168 TOTAL RESOURCES EXPENDED 10.846 10.047 MOVEMENT IN TOTAL FUNDS FOR THE YEAR. NET INCOMEIEXPENDITUREI FOR THE YEAR 3.731 4.878 TOTAL FUNDS AS AT 30 June 2023 6.178 1300 TOTAL FUNDS AS AT 1 July 2024 9,909 6,178
EVANGEL PENTECOST CHURCH BALANCE SHEET AS AT 30 June 2024 Notes 2024 2023 FIXED ASSETS TANGIBLE FIXED ASSETS CURRENT ASSETS Deposits and Cash at 8ank 10,909 10,909 7,178 7,178 LIABILITIES Creditors.. Ammounls falling due within one year 11,0001 11,0001 Net curront assets 9,909 6,178 TOTAL ASSETS LESS CURRENT LIABILITIES 9.909 6.178 Creditors." amounts falling due after more than one yer CHARITY FUNDS Unreslricled funds 9.909 6,178 TOTAL FUNDSIIDEFICITSI 6,178 We approve these account5 which Comprise the Receipts & Payments, Staternenls ol Assets & Liabilities and related notes. We acknowledgè our responsibility for the accounls, including the appropriateness ol the accounting basis as sel out in note 1, and lor providing all the infom)81ion and explanations necessary lor their compilation. Trustee Dated Trustee Dated On behalf of the Charity
EVANGEL PENTECOST CHURCH Profit And Loss Account For the year ended 30 June 2024 2024 2023 Income Tithe & offerings Total income 14,577 14,577 14.925 14,925 Direct Charitable Expenditure Ministry expenses Musicals 1,000 2.004 875 2,879 1,000 Other Expenditure Expenses Bank charges Bookkeepings Equipment Insurance Legal and professional Rent Slalionery & printing Travel and subsistence 500 soo 2,872 146 146 2,000 7,200 3,552 96 9,846 10,846 7,168 10,047 Total expenditure Surpluslldeficil} fund 3,731 4,878 Fund balance carrled forward 3,731 4,878
EVANGEL PENTECOST CHURCH Notes to the financial statements for the year ended 30 June 2024 1 TANGIBLE FIXED ASSETS Furnitue, fitting and equipment Total 2 COST At 1 July 2023 Additions As 30 June 2024 DEPRECIATION Al 1 July 2023 Charge for the year As 30 June 2024 NET BOOK VALUE As 30 June 2024 As 30 June 2023 STATEMENT OF FUNDS BROUGHT FORWARD INCOMING RESOURCES RESOURCES CARRIED EXPENDITUREIFORWARD Unrestricted funds Restricted funds General funds 6,178 6,178 14,577 14,577 {10,846 {10,8461 3,731 9,909 6,178
EVANGEL PENtECOST CHiJRCH Notes to the Accounts for the year ended 30 June 2024 1 ACCOUNTING POLICIES Ba$1$ of a¢¢ountlng The financ181 slatetements are prepared In accordance Wlth applicable aceounting Standards using the Historical Cost Convèntion. Thè financial statelement5 reflect the rèquirements ol the rèvised Statement ol Recommended Pra¢li¢e"Awounling for Charities" ISORPI. The Charity complied with best practice at the time of preparing these 8CCOUnt5. Tangibl• Flx•d Assots All fixed assets are capitalised. The charye for depwialion is calculated to wnte off the c05t of the fix8d as5et5 over their useful IIv8s on the following basès". Equiprnent 20% on the reduong balance GENERAL These Accounts have been prepared on the receipts and payments basis and In accorda applicable Accounting Standards and the Charitable SORP. (Statement of Recommended on Accounting by Charities). Income Is accounted for on accruals basis, expt for donations. which are credited whan rec81ved These represents gifts, donations, tithes, offerings, pledges and bank interest given lo the during the year. These represent amounts given to vanous Individuals. organisaiions and other charitable trusts. Honorarium to vssiting speakers and rernittance5 for fflis510nary work. Expendlturè All expenditure is accounted lor on an accrua15 basis. Resources expended on charitable activities comprise all the resour5 applied by the charity in undeerkating its work to ffleei Its charitable obieclives These costs Include the direct costs of the charitable activities with those support C05t5 incurred that enable these adivities lo be undertaken Expenditure on g0Veman costs are the costs incurred by the charity to operate and to generate the information reqUId for public accountability. Funds The charity's funds are unrestricted and a available lor use al the discretion ol the Board of Trustees Board of Trustees Remuneratlon and •¥p•n$68 No rernuneration dire¢Uy or indirectly out of ihe funds wa5 paid or payable to any of the Trustees for their duties as Iruslees. 10