PRAYER WORKS MINISTRY
Charity Registration Number 1196023
Financial Report for the period to 30 September 2024
Registered Address: 5 The Arcade, Hatfield, Hertfordshire AL10 0JY
PRAYER WORKS MINISTRY
Charity No. 1196023
Financial Report for the period to 30 September 2024
| 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 |
| Income & Expenditure Trend | 10 |
Prayer Works Ministry
PRAYER WORKS MINISTRY
Charity No. 1196023
Financial Report for the period to 30 September 2024
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
PRAYERllfJPKS MINISTRY Flnancial Reportforthe peviod to 30 September 2024 Trustees Report FF1 m.. o.
Charity No. 1196023
PRAYER WORKS MINISTRY
Financial Report for the period to 30 September 2024
Income and Expenditure Account
| Income Expenditure Travel & Subsistence Telephone/Broadband Expensed Equipment & Furniture Support 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 |
2024 £ 4,099 - - 369 1,268 239 - 1,990 - - - 300 4166 (68) - (68) |
2023 £ |
|---|---|---|
| 3,470 | ||
| - 114 344 785 153 - 444 866 - 119 300 |
||
| 3,125 | ||
| 345 | ||
| - | ||
| 345 |
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Prayer Works Ministry
PRAYER WORKS MINISTRY
Charity No. 1196023
Financial Report for the period to 30 September 2024
Statement of Financial Activities
| Incoming Resources Offerings Tithes Events 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 2024 £ £ £ 1,106 - 1,106 1,433 - 1,433 - 1,560 1,560 2,539 1,560 4,099 1,268 1,990 3,258 908 - 908 2,176 1,990 4,166 362 (430) (68) (430) 430 - 697 - 697 629 - 629 |
Total Funds 2023 £ |
|---|---|---|
| 1,100 1,200 1,170 |
||
| 3,470 | ||
| 2,008 1,116 |
||
| 3,124 | ||
| 345 - 352 |
||
| 697 |
Page 3A
Prayer Works Ministry
priAYERWORKS MINISTRY FlTraNclal Rwrtforthe perfDd ts 30 S•ptember 2ts24 CDRRENT*SSETS 9gT
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Charity No. 1196023
PRAYER WORKS MINISTRY
Financial Report for the period to 30 September 2024
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 2024
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2 INVESTMENT INCOME
Total Total
2024 2023
£ £
Bank interest receivable - -
- -
3 OPERATING SURPLUS
2024 2023
£ £
Surplus is stated after charging:
Auditor's remuneration
Audit services - -
Non-audit services - accountancy 300 300
300 300
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Prayer Works Ministry
PRAYER WORKS MINISTRY
Charity No. 1196023
Financial Report for the period to 30 September 2024
4 STAFF COSTS
| Employee costs during the year amounted to: Wages and salaries Redundancy costs Social security costs Pension costs |
2024 £ - - - - - |
2023 £ - - - - |
|---|---|---|
| - |
No employee engaged during the financial year.
5 TANGIBLE FIXED ASSETS
| Improvements to Leasehold £ Cost At 30 Sep 2024 - Depreciation At 30 Sep 2024 - Net Book Amounts At 30 Sep 2024 - 6 DEBTORS Debtors and prepayments |
Computer Equipments £ - - - 2024 £ - - |
Fixtures & Fittings £ - - - 2023 £ - - |
Total £ - |
|---|---|---|---|
| - | |||
| - | |||
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Prayer Works Ministry
Charity No. 1196023
PRAYER WORKS MINISTRY
Financial Report for the period to 30 September 2024
| 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 |
2024 £ 300 - - - 300 |
2023 £ 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 2024 £ (68) - (68) 697 - 697 629 - 629 |
Total 2023 £ 345 352 |
|---|---|---|
| 697 |
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 2024
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 30/09/2024 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 May 2025 Address: Valiant Waters Associates 15 Marden Road Croydon CR0 3ET
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Prayer Works Ministry
PRAYER WORKS MINISTRY Charity No. 1196023 Income and Expenditure Trend from 01 Oct 2021 to 30 Sep 2024
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Chart 1
'Income', 'Expenditure' by 'Year'
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Chart 2 'Income', 'Expenditure' by 'Year'
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Chart 3 '2024', '2023', '2022' by 'Year'
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Income Expenditure
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