2023-09-30-accounts - Prayer Works Ministry

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PRAYER WORKS MINISTRY

Charity Registration Number 1196023

Financial Report for the period to 30 September 2023

Registered Address: 5 The Arcade, Hatfield, Hertfordshire AL10 0JY

PRAYER WORKS MINISTRY

Charity No. 1196023

Financial Report for the period to 30 September 2023

*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 2023

Charity Information

Trustees

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 KY)RKS MINISTRY Charfty No. 119fj023 Financial Report forthe period to 30 September 2023 Trustees Report Pray8rWorks MinW regKred as a Charity Iwrorporntsd lknnK88lion onth? 1st Ikknb8r 2021. Our Missil is to h8lp1oad p8opl8 through r61ation8hip J8sus Christ by Croati a dynamic8nvironmentfor auth8nti¢ Tuming thg heatts of yoithsand familie6 trj God an¢J Otror. 08vdosyng our God uivon potsntials in orderto wn In OV8ryarea olourlivo& AJynleye 8lgned on behalfofth8 Tru0& Narrts.. ,aq SIgnaTe.. 14Tr24 Pagg 2 Pray8rWorks Mini5by

Charity No. 1196023

PRAYER WORKS MINISTRY

Financial Report for the period to 30 September 2023

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	2023 £ 3,470 785 785 2,685 - 114 344 153 - 444 866 - 119 300 2340 345 - 345	2022 £
		4,946
		585
		585

		4,361
		- 92 881 41 - 420 1,160 1,000 115 300
		4,009
		352
		-
		352

Page 3

Prayer Works Ministry

Charity No. 1196023

PRAYER WORKS MINISTRY

Financial Report for the period to 30 September 2023

Statement of Financial Activities

Incoming Resources Donations Total Incoming Resources Outgoing Resources Charitable Activities Governance Total Outgoing Resources Net Incoming/(Outgoing) Resources Transfer between funds Funds Brought Forward Funds Carried Forward	Unrestricted Restricted Total Funds Funds Funds 2023 £ £ £ 3,026 444 3,470 3,026 444 3,470 1,564 444 2,008 1,116 - 1,116 2,680 444 3,124 345 - 345 - - - 352 - 352 697 - 697	Total Funds 2022 £
		4,946
		4,946
		2,049 2,545
		4,594

		352 - -
		352

Page 3A

Prayer Works Ministry

PRAYER WORKS MINISTRY Financial Report forthe period to 30 SepteMr 2023 BalarKe SI1 as at 30 Sept2023 Not 2023 ASSETS CURREFIT ASSETS Det¢or5 Cash at bank and in hand Totsl cxJrreTrt As89ts S52 CREDITORS.. Am•unts falling due ithln one >wr NET ASSETS 302 ReEeM8 repr05ented ty.. Unr88tricled Funds Rethled Fd5 352 352 The fMnclal &ateMe were apwoiwl bythe trustes and sign¢d on their bohall by. Name.. CH KI S'r>P Signaturè". The notesto Ihe3e acuurts 6)m) partoflhes8finand81 temer 1SAlarthR( cROT

Charity No. 1196023

PRAYER WORKS MINISTRY

Financial Report for the period to 30 September 2023

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 2023

----- Start of picture text -----
2 INVESTMENT INCOME
Total Total
2023 2022
£ £
Bank interest receivable - -
- -
3 OPERATING SURPLUS
2023 2022
£ £
Surplus is stated after charging:
Auditor's remuneration
Audit services - -
Non-audit services - accountancy 300 300
300 300
----- End of picture text -----

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Prayer Works Ministry

PRAYER WORKS MINISTRY

Charity No. 1196023

Financial Report for the period to 30 September 2023

4 STAFF COSTS

Employee costs during the year amounted to: Wages and salaries Redundancy costs Social security costs Pension costs	2023 £ - - - - -	2022 £ - - - -
		-

No employee engaged during the financial year.

5 TANGIBLE FIXED ASSETS

Improvements to Leasehold £ Cost At 30 Sep 2023 - Depreciation At 30 Sep 2023 - Net Book Amounts At 30 Sep 2023 - 6 DEBTORS Debtors and prepayments	Computer Equipments £ - - - 2023 £ - -	Fixtures & Fittings £ - - - 2022 £ - -	Total £ -
			-
			-

Page 7

Prayer Works Ministry

Charity No. 1196023

PRAYER WORKS MINISTRY

Financial Report for the period to 30 September 2023

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	2023 £ 300 - - - 300	2022 £ 300 - - -
		300

8 ANALYSIS OF NET ASSETS BETWEEN FUNDS

Fund Balances at 30th Se[tember 2023 are represented by Net Incoming (Outgoing) Resources for the period Accumulated Funds Brought Forward Funds Carried Forward	Unrestricted Restricted Total Fund Fund Fund 2023 £ 345 - 345 352 - 352 697 - 697	Total 2022 £ 352 -
		352

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 2023

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 30/09/2023 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 Designation: FAIA, MSc Date: 14 June 2024 Address: Valiant Waters Associates 15 Marden Road Croydon CR0 3ET

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Prayer Works Ministry