## **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 regK*red 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 Tru*0& 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 f*Mnclal &ateMe were apwoiwl bythe truste*s 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. Page 5 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 -----**
Page 6 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 Page 9 Prayer Works Ministry