PRAYER WORKS MINISTRY
Charity Registration Number 1196023
Financial Report for the period to 30 September 2022
Registered Address: 5 The Arcade, Hatfield, Hertfordshire AL10 0JY
PRAYER WORKS MINISTRY
Charity No. 1196023
Financial Report for the period to 30 September 2022
| Contents | |
|---|---|
| Page | |
| Charity Information | 1 |
| Trustees Report | 2 |
| Income & Expenditure - SOFA | 3 - 3A |
| Balance Sheet | 4 |
| Notes to the accounts | 5 - 8 |
| Independent Examiner's Report | 9 |
Prayer Works Ministry
PRAYER WORKS MINISTRY
Charity No. 1196023
Financial Report for the period to 30 September 2022
Charity Information
Trustees Angela Ngozi Segun Chris Fleming Stella Ogunleye Registered Address: 5 The Arcade Hatfield Hertfordshire AL10 0JY Registered Charity Number: 1196023 Accountants: Valiant Waters Associates 15 Marden Road Croydon CR0 3ET
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Prayer Works Ministry
Prayer Works Ministy r8gister8d as a Charity Incortx)ratsd oaniSatiOn on the 1 st October 2021. Our mission is to help lead people into a growng relationship wth Jesus Christ by vcreating a dynamic environment for authentic worship and effecttv8 communication while developing genuine relationship 1th each other. Tuming the h8arts of youth and families to God and each other. Developing our God given tential in ord8rto win in every area of our Iiv8s. Advancing the kingdom of God. We also support globally by helping the less privi18dged young adult by sending th8m to vocational scholl er8 they can train to achieve a meaning frjl life. We support the eld8riy financially , 1th food, gifts accommodalion, and asssst2nc8 in paying for their medication. We continued to adVar our objectives during the year and will ntinue to achieve more of thos8 objectives n the fuknre. The achi8V8ment of our objectives d8p8nds gnificantlY on the contribub'ons of our diligent donors and volunteèrs, for which are 8r so grateful. The following served as trustses during the year under report Angela Ngozi Segun Chris Fleming stella C4unWe Signed on b8half of the Trustees.. Name.. Sto(Lo OJ Lil Signalure.. Dats: sItJ ILL&4Ly£ 16-May-23
Charity No. 1196023
PRAYER WORKS MINISTRY
Financial Report for the period to 30 September 2022
Income and Expenditure Account
| Income Expenditure Cost of Sales Preaching Charges Gross Surplus Administrative Expenses Travel & Subsistence Telephone/Broadband Expensed Equipment & Furniture Administrative Costs Bank Charges Retreat & Convention Rent & Hire Registration Costs Sundries Accountancy Total Administrative Expenses Net Surplus Before Tax Corporation Tax Payable Net Surplus After Tax |
2022 £ 4,946 585 585 4,361 - 92 881 41 - 420 1,160 1,000 115 300 4010 352 - 352 |
2021 £ |
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Prayer Works Ministry
Statement of Financial Activities Unrestricted Restricted Total Funds Funds Funds 2022 Total Funds 2021 Incoming R8sourc8S Donations Total Inconing Resources 420 420 0goIng Resourcès Charitable Activities Governance Total Outgn9 Resources 1,629 2,545 4,174 420 2,049 420 4,594 Net Incomingl(Ou¢going) Resources 352 352 TrarBfer tetsveen fvnds Funds Brought Forward Funds Carried Forward 352 352
Inancia epo e peno ep BalowA Sheet as at 30 Serturthr 2022 Nto 2022 2021 ASSETS CURRENT ASSETS Oebtots Cash at bank and In hand Tolal Currgnt Astets 652 CREDITORS.. Amoun18 falling due onè year NETCURRENT AsseTS 352 NET ASSErs 362 Resen•s R88eNes repre8entsd ty". Unre8th"(aed Furnjs Res1 Fund 362 The financial StatnIS were apprOd bythe ¢rustees on 16 May2023 and $figned on thelr behall by: OyLo J S¥Jnatur". ryjtes to these accounts loTh part olthes• flnanaal statennts CRO[ Date: 16-fthTr23
Charity No. 1196023
PRAYER WORKS MINISTRY
Financial Report for the period to 30 September 2022
1 ACCOUNTING POLICIES
1a Basis of accounting
The accounts have been prepared under the historical cost convention in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008) and comply with the with the Companies Act 2006, and on accrual basis. The principal accounting policies adopted in the preparation of the financial statements are as follows:
1b Tangible fixed assets
Fixed assets costing in excess of £2,000 are capitalised and are shown at historical cost.
Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its estimated useful life, by the straight line method, over the following periods:-
Leasehold improvements over 3 years Computers over 3 years Fixtures, fittings and equipment over 4 years
No fixed asset above the £2,000 was purchased in the year, therefore no depreciation charge was due.
1c Taxation
The charity is liabile to meet its statutory obligations on Corporation Taxes Act 1988.
1d Pensions
No pension contribution is payable by the charity during the year.
1e Incoming resources
All incoming resources are included in the financial statement when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy, inclusive of VAT.
1f Outgoing Resources
All resources expended are included in the financial statement on an accrual basis inclusive of VAT.
1g Cash flow statement
The charity has taken advantage of the exemption in Financial Reporting Standard No 1 from producing a cash flow statement on the grounds that it is a small charity.
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Prayer Works Ministry
PRAYER WORKS MINISTRY
Charity No. 1196023
Financial Report for the period to 30 September 2022
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2 INVESTMENT INCOME
Total Total
2022 2021
£ £
Bank interest receivable - -
- -
3 OPERATING SURPLUS
2022 2021
£ £
Surplus is stated after charging:
Auditor's remuneration
Audit services - -
Non-audit services - accountancy 300 -
300 -
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Prayer Works Ministry
PRAYER WORKS MINISTRY
Charity No. 1196023
Financial Report for the period to 30 September 2022
4 STAFF COSTS
| Employee costs during the year amounted to: Wages and salaries Redundancy costs Social security costs Pension costs |
2022 £ - - - - - |
2021 £ - - - - |
|---|---|---|
| - |
No employee engaged during the financial year.
5 TANGIBLE FIXED ASSETS
Improvements Computer Fixtures & to Leasehold Equipments Fittings Total £ £ £ £ Cost - - - - At 30 Sep 2022 Depreciation - - - - At 30 Sep 2022 Net Book Amounts - - - - At 30 Sep 2022 6 DEBTORS 2022 2021 £ £ - - Debtors and prepayments - -
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Prayer Works Ministry
Charity No. 1196023
PRAYER WORKS MINISTRY
Financial Report for the period to 30 September 2022
| 7 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors Other creditors including taxation and social security for period Trade creditors - B/fwd from previous year Accruals and Deferred income |
2022 £ 300 - - - 300 |
2021 £ - - - - |
|---|---|---|
| - |
8 ANALYSIS OF NET ASSETS BETWEEN FUNDS
| Fund Balances at 30th Nov 2021 are represented by Net Incoming (Outgoing) Resources for the period Accumulated Funds Brought Forward Funds Carried Forward |
Unrestricted Restricted Total Fund Fund Fund 2022 £ 352 - 352 - - - 352 - 352 |
Total 2021 £ - - |
|---|---|---|
| - |
9 CONTINGENT/OUTSTANDING LIABILITIES
No contingent or oustanding liabilities at the end of the year
10 COMMITMENTS AND GUARANTEES
No commitment or guarantee was given in the year
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Prayer Works Ministry
PRAYER WORKS MINISTRY
Charity No. 1196023
Financial Report for the period to 30 September 2022
Independent Examiner's Report
I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 30/09/2022 as set out on pages 1 to 8.
As the charity trustees of the Trust, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).
Responsibilities and basis of report
I report in respect 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 the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent Examiner's Statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:
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accounting records were not kept in accordance with
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section 130 of the Act or
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the accounts do not accord with the accounting records
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Signature: AdeOmis-Adeyela Name: A Omisakin-Adeyela Designation: FAIA, MSc Date: 16 May 2023 Address: Valiant Waters Associates 15 Marden Road Croydon CR0 3ET
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Prayer Works Ministry