PRESBYTERIAN CHURCH OF GHANA, MIDLANDS DISTRICT
TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
CHARITY NO
1196512
Presbyterian Church of Ghana, Midlands District
Contents of the Financial Statements Year ended 31 December 2023
| Page | ||
|---|---|---|
| Trustees' Report | 1 - 2 | |
| Independent Examiner's Report | 3 - 4 | |
| Statement of Financial Activities | 5 | |
| Balance Sheet | 6 | |
| Notes to the Financial Statements | 7 - 9 |
Presbyterian Church of Ghana, Midlands District
Trustees' report for the year ended 31 December 2023
The trustees present their report and unaudited financial statements of the church for the year ended 31 December 2023. The trustees have adopted the provisions of the Statement of Recommended Practice: "Accounting and Reporting by Charities" in accordance with Financial Reporting Standard applicable in the UK and the Republic of Ireland (FRS102) issued in July 2014 in preparing the Annual Report and the Financial Statements of the church Recommended Practice: "Accounting and Reporting by Charities" in accordance with Financial Reporting Standard applicable in the UK and the Republic of Ireland (FRS102) issued in July 2014 in preparing the Annual Report and the Financial Statements of the church
Legal Status
Presbyterian Church of Ghana, Mdlamd Distrct (UK), is a is a charity incorporated organisation registered on the 10th November 2021 Registration number1196512
Principal Activities
The principal activities of the church during the period were as follows:
To advance the Christian religion and the ethics, ideals and principles of the Presbyterian church for the public benefit
To provide advice, counselling and support for members training and education for the relief of poverty
The advaqncement of education and the provision of facilities for receation and leisure time occupation in the interest of social welfare and with the object of improving the conditions of the members and their children
Review of Financial Activities
It is the policy of the trustees that the reserves of the District, which are all made up of unrestricted funds, should be held as current assets in order to meet the future requirements of its activities.
As at 31 December 2023 reserves of the District were £3314 (2022. £1014)
Page 1
Presbyterian Church of Ghana, Midlands District Trustees' report for the year ended 31 December 2023(Continued)
Trustees
The trustees who served during the period to the date of this report were:
CHAIRPERSON JAMES EDJEKOOMHENE TREASURER OWUSU KYEREMATENG MEMBER BETTY OWARE
Statement of Trustees Responsibilities in Relation to the Financial Statements
The constitution of the church and law applicable to Charities in England and Wales require the trustees to prepare financial statements for each financial year which give a true and fair view of the financial activities of the charity during the year and of its financial position at the end of each year. In preparing the financial statements, the trustees are required to:
-
1) select suitable accounting policies and apply them consistently;
-
2) observe the methods and principles in the Charities SORP;
-
3) make judgements and estimates that are reasonable and prudent;
-
4) prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the church and enable them to ensure
ensure that financial statements comply with the Charities Act 2011.
The trustees are also responsible for safeguarding the assets of the church and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
APPROVED BY THE TRUSTEES AND SIGNED ON THEIR BEHALF:
Date: 8TH APRIL 2024
Page 2
Presbyterian Church of Ghana, Midlands District Independent Examiners Report to the trustees
We have examined the financial statements for the year ended 31 December 2023 on page 5 to 9, which have been prepared in accordance with the accounting policies set out on page 7
Respective responsibilities of Trustees and Independent Examiner
As described on page 2, the trustees are responsible for the preparation of the financial statements of the church. The trustees consider that an audit is not required for this period under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is our responsibility to:
examine the financial statements under section 145 of the 2011 Act;
follow the procedures laid down in the General Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
state whether particular matters have come to our attention.
We have been appointed under section 145 of the Charities Act 2011 and report in accordance with the regulations under that Act.
Basis of independent examiner's report
We conducted our examination in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements and the seeking of explanations from the trustees concerning such matters. The procedures undertaken do not provide all of the evidence that would be required by an audit and, consequently, no opinion is given as to whether the financial statements present a 'true & fair view' and the report is limited to those matters set out in the statement below.
Independent examiner's statement
During the course of our examination, nothing has come to our attention which gives us reasonable cause to believe that, in any material respect, the trustees have not met the requirements to ensure that:
a) proper accounting records have been kept in accordance with Section 130 of the Charities Act 2011; and
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Independent Examiners Report to the trustees (Continued)
- b) the financial statements for the year ended 31 December 2023 are in accordance with those records and comply with the accounting requirements of Charity Act 2011 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities (revised 2014).
Further, during the course of our examination, nothing has come to our attention that, in our opinion, should be drawn to your attention in order to enable a proper understanding of the financial statements to be reached.
Signed:..............................................
Date: 15th April 2024
Kofi Asiamah FCCA
Chartered Certified Accountants Unit 92 Battersea Buss Centre London SW11 5Q
Page 4
Presbyterian Church of Ghana, Midlands District (UK) Statement of Financial Activities For the year ended 31 December 2023
| Statement of Financial Activities For the year ended 31 December |
2023 | ||||
|---|---|---|---|---|---|
| Year ended | 31.12.2023 | 31.12.2022 | |||
| Unrestricted funds | |||||
| Notes | 2023 | 2022 | |||
| Incoming resources | 10,611 | 29456 | |||
| Assessment (Mission support) | 2 | 109919 | 83034 | ||
| Gift aid | 2 | 48231 | 32548 | ||
| Investment income | 2 | 0 | 0 | ||
| Total incoming resources | 168761 | 145039 |
Resources expended
| Charitable activities 3 Administrative expenses 4 Total resources expended Net incoming resources for the year Funds brought forward Total funds carried forward |
0 166462 166462 2,299 - 1014 3,313 |
0 147443 147443 2,404 3419 1,014 |
|---|---|---|
The notes form part of these financial statements Page 5
Presbyterian Church of Ghana, Midlands District
| Balance Sheet At 31 December 2023 Notes Fixed Assets 5 Tangible fixed asset |
2023 0 |
2022 |
|---|---|---|
| 0 |
| Current Assets other debtors 6 Cash at bank and in han 7 Total current assets Current Liabilities Creditors 8 Net Current Asset Total Net Assets Funds Unrestricted funds 9 Total funds |
0 0 4686 2114 4686 2,114 1372 1100 3314 1014 3314 1014 3314 1014 3314 1014 |
0 2114 |
|---|---|---|
| 1014 | ||
| 1014 | ||
| 1014 | ||
| 1014 |
APPROVED BY THE TRUSTEES AND SIGNED ON THEIR BEHALF:
…............................................................ Date: 8th April 2024
The notes form part of these financial statements
Page 6
Notes to the financial statements for the year ended 31 December 2023
1 ACCOUNTING POLICIES
Basis of accounting
The financial statements have been prepared in accordance with the Statement of Recommended Practice : Accounting and Reporting by Charities in accordance with with Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)
issued in July 2014
Accounting convention
The financial statements have been prepared under the historical cost convention
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:
Computer equipment : written off in the year of purchase
Musical instrument : written off in the year of purchase.
Cash flow statement
Exemption has been taken from preparing a cash flow statement on the grounds that the charity is a small undertaking
Incoming resources
Incoming resources represent offertory, pledges, donations, tithes and self generated income
Reserve policy
The trustees have a free reserve policy whereby the free reserves of the church will be sufficient to continue the current activities should there be a significant fall in offertory levels. This will need to be sufficient to sustain the church whilst alternate funding is sought or other arrangements are made.
The notes form part of these financial statements
Page7
Details of Income for the year ended 31st December 2023
| Materials | 501 | 1,821 |
|---|---|---|
| Donation | 150 | 6,722 |
| Youth and Student | 0 | 451 |
| Children Service | 391 | 824 |
| transfer sundries | 0 | 0 |
| JY Week 590 Health Week 0 PCGTV 1460 Charity Registration 0 Harvest 10% 0 District Service 4070 BSPG 0 Presbytery Manse 0 £1 Local Evangelism Contribution 0 District Session Delegate Fees 1080 Europe Presbytery Session 2370 10611 Gift Aid Payment Rec. 48231 Mission Support Milton Keynes 20681 Hope 19456 Gethsemane 14420 Prince of Peace 11176 Bethel 8813 Redemption 15622 Faith 10318 Nottingham 3605 Coventry 5768 Leicester 0 Ascension 0 109859 |
118 30 0 3360 213 4198 220 1640 211 8650 1000 29457 |
118 30 0 3360 213 4198 220 1640 211 8650 1000 |
|---|---|---|
| 32548 | ||
| 16196 13572 10068 7392 6656 11906 8142 2276 2276 110 4440 83034 |
The notes form part of these financial statements
page 8
Details of Expenditure for the year ended
2023
2022
| 4 Administration Expenses District Clerk Allowance Contingency Fund micelleaneous Computer and Printer District Minister Salary Pension Ministers Allowance District Item - Youth Ministry Europe Presbytery Mission Support car unsurance Ministers travel Secretarial Support (Incl. Printing & Stationery) Mission and Evangelism Donation Ministers Transport / Travel Seminar/Training Donation Travel and Transport Ad hoc Hospitality Expenses NI/Tax Catechists Allowance catechist s rep Allowance Support for Directors Activities Rent for District Meeting Rooms / Event Audit / Accounting / Payroll Fees Presbytery Payment Special ministerial training Group Account Gift Aid Payment To Locals District Treasurer Allowance Stationery / Gift Aid Registration District Lay Rep Allowance District Session Conference Website Rent Europe Presbytery Conference Stationery / Materials |
1800 6166 395 11800 1320 13530 2175 25719 2027 2188 0 0 4353 921 850 0 0 105 800 5420 800 795 726 1090 2340 5985 0 48223 1800 0 1500 270 1659 13200 8331 175 166462 |
1,862 3,824 514 20,061 840 10,000 1,532 17,200 - - 360 800 - 3,483 180 10,443 1,886 1,913 300 4,150 - 485 3,395 1,100 11,412 - 257 32,535 1,850 7,003 1,550 8,509 - - - - - 147443 |
|---|---|---|
The notes form part of these financial statements
Page 9
5 Tangible fixed assets
| 6 Debtors: Amounts falling due within one year | 6 Debtors: Amounts falling due within one year | ||
|---|---|---|---|
| Debtors | 0 | 0 | |
| 7 Cash at bank and in hand | |||
| Current account | |||
| Deposit reserve account | 0 | - | |
| Cash in hand | 4686 | 2114 | |
| 4686 | 2114 | ||
| Presbyterian Church of Ghana, Midlands District | |||
| Notes to the financial statements for the year ended 31 December 2023 (continued) | |||
| 8 Creditors: Amounts falling due within one year | |||
| Sundry creditors | 1100 | 1100 | |
| Other credits | 272 | 0 | |
| 1372 | 1100 | ||
| Net movement in funds | 01.01.23 | 01.01.2022 | |
| 9 Movement in funds | |||
| Unrestricted funds | b/f | 1014 | 3,418 |
| Surplus/Deficit | 2300 | -2404 | |
| 3314 | 1,014 | ||
| Total funds |
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