## **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
Page 1
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**
**£**|
|---|---|---|
|||**-**|
|||-|
|||**-**|
||||
|||-|
|||-
-
-
-
-
-
-
-
-
-|
|||**-**|
|||-|
|||-|
|||**-**|
Page 3
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 Nt*o
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 staten*nts
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.
Page 5
Prayer Works Ministry
**PRAYER WORKS MINISTRY**
**Charity No. 1196023**
## **Financial Report for the period to 30 September 2022**
**----- Start of picture text -----**
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 -
**----- End of picture text -----**
Page 6
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 - -
Page 7
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
Page 8
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:
- accounting records were not kept in accordance with
- section 130 of the Act or
- 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
Page 9
Prayer Works Ministry