REGISTERED CHARITY NUMBER: 1195896
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 1 JUNE 2024
FOR
LIVING PRAISE CHAPEL WORLDWIDE
Appiatse & Associates Chartered Certified Accountants 191 Waltham Way Chingford London E4 8AG
LIVING PRAISE CHAPEL WORLDWIDE
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 1 JUNE 2024
| Page | |
|---|---|
| Report of the Trustees | 1 |
| Independent Examiner's Report | 2 |
| Statement of Financial Activities | 3 |
| Balance Sheet | 4 |
| Notes to the Financial Statements | 5 to 8 |
| Detailed Statement of Financial Activities | 9 |
LIVING PRAISE CHAPEL WORLDWIDE
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 1 JUNE 2024
Thetrusteespresenttheir reportwith thefinancialstatementsof thecharityfor theyearended1 June2024.The trustees haveadoptedtheprovisionsof AccountingandReportingby Charities:Statementof RecommendedPractice applicable to charitiespreparingtheir accountsin accordancewith the FinancialReportingStandardapplicablein the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
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 DETAILS Registered Charity number 1195896
Principal address International House Tariff Road London N17 0DY
Trustees F Amankwah Ms N L A Kwarteng K C K Kwarteng (appointed 1.3.25)
Independent Examiner Appiatse & Associates Chartered Certified Accountants 191 Waltham Way Chingford London E4 8AG
Approved by order of the board of trustees on 1 April 2025 and signed on its behalf by:
F Amankwah - Trustee
Page 1
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF LIVING PRAISE CHAPEL WORLDWIDE
Independent examiner's report to the trustees of Living Praise Chapel Worldwide
I reportto thecharitytrusteeson my examinationof theaccountsof Living PraiseChapelWorldwide(theTrust)for the year ended 1 June 2024.
Responsibilities and basis of report
As the charity trusteesof the Trust you are responsiblefor the preparationof the accountsin accordancewith the requirements of the Charities Act 2011 ('the Act').
I reportin respectof my examinationof theTrust'saccountscarriedoutunderSection145of theAct andin carrying out my examinationI havefollowed all applicableDirectionsgivenby theCharityCommissionunderSection145(5)(b) of the Act.
Independent examiner's statement
I havecompletedmy examination.I confirm thatno materialmattershavecometo my attentionin connectionwith the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
-
the accounts do not accord with those records; or
-
theaccountsdo notcomplywith theapplicablerequirementsconcerningtheform andcontentof accountsset out in the Charities(AccountsandReports)Regulations2008 otherthanany requirementthat the accountsgive a true and fair view which is not a matter considered as part of an independent examination.
I haveno concernsandhavecomeacrossno othermattersin connectionwith theexaminationto whichattention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Ekow Appiatse
Appiatse & Associates Chartered Certified Accountants 191 Waltham Way Chingford London E4 8AG
1 April 2025
Page 2
LIVING PRAISE CHAPEL WORLDWIDE
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 1 JUNE 2024
| 1.6.24 | 1.6.23 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||
| Donations and legacies | 16,390 | 15,027 | |
| EXPENDITURE ON | |||
| Raising funds | 15,044 | 12,806 | |
| Charitable activities | |||
| Charitable | 1,840 | - | |
| Other | 360 | 360 | |
| Total | 17,244 | 13,166 | |
| NET INCOME/(EXPENDITURE) | (854) | 1,861 | |
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | 4,630 | 2,769 | |
| TOTAL FUNDS CARRIED FORWARD | 3,776 | 4,630 |
The notes form part of these financial statements
Page 3
LIVING PRAISE CHAPEL WORLDWIDE
BALANCE SHEET
1 JUNE 2024
| 1.6.24 | 1.6.23 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| FIXED ASSETS | |||
| Tangible assets | 4 | 168 | 252 |
| CURRENT ASSETS | |||
| Cash at bank | 3,968 | 4,738 | |
| CREDITORS | |||
| Amounts falling due within one year | 5 | (360) | (360) |
| NET CURRENT ASSETS | 3,608 | 4,378 | |
| TOTAL ASSETS LESS CURRENT | |||
| LIABILITIES | 3,776 | 4,630 | |
| NET ASSETS | 3,776 | 4,630 | |
| FUNDS | 6 | ||
| Unrestricted funds | 3,776 | 4,630 | |
| TOTAL FUNDS | 3,776 | 4,630 |
The financial statementswereapprovedby the Board of Trusteesandauthorisedfor issueon 1 April 2025 and were signed on its behalf by:
F Amankwah - Trustee
The notes form part of these financial statements
Page 4
LIVING PRAISE CHAPEL WORLDWIDE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 1 JUNE 2024
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statementsof the charity,which is a public benefitentity underFRS102, havebeenprepared in accordancewith the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of RecommendedPractice applicable to charities preparing their accountsin accordancewith the Financial Reporting Standardapplicablein the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', FinancialReportingStandard102 'The FinancialReportingStandardapplicablein the UK and Republic of Ireland' and the CharitiesAct 2011. The financial statementshave beenpreparedunder the historical cost convention.
Income
All incomeis recognisedin theStatementof FinancialActivities oncethecharityhasentitlementto thefunds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognisedas expenditureas soonas thereis a legal or constructiveobligation committing the charityto thatexpenditure,it is probablethata transferof economicbenefitswill be requiredin settlement and theamountof theobligationcanbemeasuredreliably.Expenditureis accountedfor on anaccrualsbasisand has beenclassifiedunderheadingsthat aggregateall cost relatedto the category.Wherecostscannotbe directly attributedto particular headingsthey havebeenallocatedto activities on a basisconsistentwith the use of resources.
Tangible fixed assets
Depreciationis providedat the following annualratesin orderto write off eachassetover its estimated useful life.
Fixtures and fittings
- 20% on cost
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restrictedfundscanonly beusedfor particularrestrictedpurposeswithin theobjectsof thecharity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Hire purchase and leasing commitments
Rentalspaid underoperatingleasesarechargedto theStatementof FinancialActivities on a straightline basis over the period of the lease.
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continued...
LIVING PRAISE CHAPEL WORLDWIDE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 1 JUNE 2024
2. TRUSTEES' REMUNERATION AND BENEFITS
Therewereno trustees'remunerationor otherbenefitsfor the yearended1 June2024 nor for the year ended 1 June 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 1 June 2024 nor for the year ended 1 June 2023.
3. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | ||
|---|---|---|
| fund | ||
| £ | ||
| INCOME AND ENDOWMENTS FROM | ||
| Donations and legacies | 15,027 | |
| EXPENDITURE ON | ||
| Raising funds | 12,806 | |
| Other | 360 | |
| Total | 13,166 | |
| NET INCOME | 1,861 | |
| RECONCILIATION OF FUNDS | ||
| Total funds brought forward | 2,769 | |
| TOTAL FUNDS CARRIED FORWARD | 4,630 | |
| 4. | TANGIBLE FIXED ASSETS | |
| Fixtures | ||
| and | ||
| fittings | ||
| £ | ||
| COST | ||
| At 2 June 2023 and 1 June 2024 | 420 | |
| DEPRECIATION | ||
| At 2 June 2023 | 168 | |
| Charge for year | 84 | |
| At 1 June 2024 | 252 | |
| NET BOOK VALUE | ||
| At 1 June 2024 | 168 | |
| At 1 June 2023 | 252 |
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continued...
LIVING PRAISE CHAPEL WORLDWIDE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 1 JUNE 2024
5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 1.6.24 | 1.6.23 | |||
|---|---|---|---|---|
| £ | £ | |||
| Other creditors | 360 | 360 | ||
| 6. | MOVEMENT IN FUNDS | |||
| Net | ||||
| movement | At | |||
| At 2.6.23 | in funds | 1.6.24 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 4,630 | (854) | 3,776 | |
| TOTAL FUNDS | 4,630 | (854) | 3,776 | |
| Net movement in funds, included in the above are as follows: | ||||
| Incoming | Resources | Movement | ||
| resources | expended | in funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 16,390 | (17,244) | (854) | |
| TOTAL FUNDS | 16,390 | (17,244) | (854) | |
| Comparatives for movement in funds |
| Comparatives for movement in funds | |||
|---|---|---|---|
| Net | |||
| movement | At | ||
| At 2.6.22 | in funds | 1.6.23 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 2,769 | 1,861 | 4,630 |
| TOTAL FUNDS | 2,769 | 1,861 | 4,630 |
| Comparative net movement in funds, included in the above are as follows: | |||
| Incoming | Resources | Movement | |
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 15,027 | (13,166) | 1,861 |
| TOTAL FUNDS | 15,027 | (13,166) | 1,861 |
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LIVING PRAISE CHAPEL WORLDWIDE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 1 JUNE 2024
6. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 2.6.22 | in funds | 1.6.24 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 2,769 | 1,007 | 3,776 |
| TOTAL FUNDS | 2,769 | 1,007 | 3,776 |
A currentyear12 monthsandprior year12 monthscombinednetmovementin funds,includedin theabove are as follows:
as follows: |
|||
|---|---|---|---|
| Incoming | Resources | Movement | |
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 31,417 | (30,410) | 1,007 |
| TOTAL FUNDS | 31,417 | (30,410) | 1,007 |
7. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 1 June 2024.
Page 8
LIVING PRAISE CHAPEL WORLDWIDE
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 1 JUNE 2024
| 1.6.24 | 1.6.23 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 16,390 | 15,027 |
| Total incoming resources | 16,390 | 15,027 |
| EXPENDITURE | ||
| Raising donations and legacies | ||
| Rent | 8,100 | 7,200 |
| Sundries | - | 167 |
| Catering and refreshments | 1,470 | 40 |
| Musicians | 3,740 | 3,465 |
| Travel expenses | 1,650 | 1,770 |
| Instruments | - | 80 |
| Fixtures and fittings | 84 | 84 |
| 15,044 | 12,806 | |
| Charitable activities | ||
| Charity and welfare | 840 | - |
| Prophet's' stipend | 1,000 | - |
| 1,840 | - | |
| Support costs | ||
| Governance costs | ||
| Accountancy and legal fees | 360 | 360 |
| Total resources expended | 17,244 | 13,166 |
| Net (expenditure)/income | (854) | 1,861 |
This page does not form part of the statutory financial statements
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