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2024-05-31-accounts

1

Trustees' Annual Report for Peniel Assembly

Charity Name: Peniel Assembly Charity Number: 1199519 Reporting Period: For the Year Ended 31 May 2024 Charity Address: Salvation Army, Prince Albert St, Crewe CW1 2DF Contact Information: Phone: +447481430970 Email: info@penielassembly.org

Objectives and Activities

Peniel Assembly is a non-denominational, inter-denominational ministry with an apostolic mandate to raise believers from all nations, teaching them to observe all the things the Lord has commanded and to bring them to the full knowledge of Christ.

Charity Register

The charity's purposes are founded on five pillars:

  1. Worship God: Facilitating communal and individual expressions of devotion and reverence.

  2. Minister to Others: Providing support and services to meet the spiritual and practical needs of individuals.

  3. Evangelize: Sharing the Gospel message to reach out to the unchurched youth and the broader community.

  4. Baptize and Teach New Believers: Discipling individuals to grow in their faith and understanding.

  5. Experience the Tangible Presence of God: Creating environments where individuals can encounter God's presence.

These objectives are pursued through regular worship services, outreach programs, and community engagement initiatives.

Achievements and Performance

During the reporting period, Peniel Assembly has made significant strides in fulfilling its mission:

2

Financial Review

As a newly registered charity (registered on 13 June 2022), Peniel Assembly's financial activities for the reporting period are in the process of being compiled. The trustees are committed to ensuring transparency and accountability in financial reporting and will provide detailed financial statements in subsequent reports.

Structure, Governance, and Management

Peniel Assembly operates as a Charitable Incorporated Organisation (CIO), governed by a board of trustees responsible for the overall management and strategic direction of the charity. The trustees work collectively to ensure that the charity's objectives are met and that it complies with all regulatory requirements.

Public Benefit Statement

The trustees confirm that they have complied with their duty to have due regard to the Charity Commission's guidance on public benefit. The activities undertaken by Peniel Assembly during the reporting period have contributed to the advancement of the Christian faith and provided tangible benefits to the community, in alignment with the charity's objectives.

Declaration

The trustees declare that they have approved this report, which is signed on their behalf by:

Solomon Apreala

Trustee

01/01/2025

Registered Charity Number :- 1199519

PENEIEL ASSEMBLY a Charitable Incorporated Organisation

FINANCIAL STATEMENTS

FOR THE YEAR END 31 May 2024

PENEIEL ASSEMBLY 59 ELM DRIVE

CREWE

PENEIEL ASSEMBLY

CONTENTS

FOR THE YEAR ENDED 31 May 2024

STATEMENT OF FINANCIAL ACTIVITIES ................................................................................................................ 3 BALANCE SHEET ........................................................................................................................................................... 4 NOTES TO THE FINANCIAL STATEMENTS .............................................................................................................. 5

2

PENEIEL ASSEMBLY

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 May 2024

Recommended categories by
activity
Notes
Income and endowments
from:
Donations and legacies
2
Total
Expenditure on:
Charitable activities
3
Other
4
Total
Net income/(expenditure)
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 Unrestricted funds
£
Total Funds 2024
£
Total Funds 2023
£
28,123.00
28,123.00
-
28,123.00
28,123.00
-
7,479.00
7,479.00
-
19,811.00
19,811.00
-
27,290.00
27,290.00
-
833.00
833.00
-
833.00
833.00
-
1,669.00
1,669.00
1,669.00
2,502.00
2,502.00
1,669.00

3

PENEIEL ASSEMBLY

BALANCE SHEET

FOR THE YEAR ENDED 31 May 2024

Recommended categories by
activity
Notes
Fixed assets
Tangible assets
5
Total fixed assets
Current assets
Cash at bank and in hand
6
Total current assets
Creditors: amounts falling due
within one year
7
Net current
assets/(liabilities)
Total net assets or liabilities
Funds of the Charity
Unrestricted funds
8
Restricted income funds
8
Endowment funds
8
Total funds		 Unrestricted funds
£
Total Funds 2024
£
Total Funds 2023
£
9,281.00
9,281.00
-
9,281.00
9,281.00
-
660.00
660.00
2,425.00
660.00
660.00
2,425.00
7,439.00
7,439.00
756.00
(6,779.00)
(6,779.00)
1,669.00
2,502.00
2,502.00
1,669.00
2,502.00
2,502.00
1,669.00
-
-
-
-
2,502.00
2,502.00
1,669.00

The financial statements were approved by the Board on 18-Feb-2025 and signed on its behalf by:

Solomon Apreala Trustee

4

PENEIEL ASSEMBLY

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 May 2024

1 Accounting Policies

1.1 Accounting Policies

The principal accounting policies adopted by the Charity, which is a public benefit entity, in the preparation of the accounts are as follows.

1.2 Basis of preparation

These accounts have been prepared under the historical cost convention, as modified by the inclusion of charitable properties and fixed asset investments and investment properties at valuation.

These accounts have been prepared in accordance with “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

These accounts are presented in pounds sterling and rounded to the nearest pound.

1.3 Going concern

The Trustees have prepared financial projections, taking into consideration the current economic conditions and have, at the time of approving these accounts, a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the accounts.

2 Income from Donations and Legacies

Analysis

Donation
and gifts		 Unrestricted
funds
£
28,123.00
28,123.00		 Total
funds 2024
£

28,123.00

28,123.00		 Total
funds 2023
£

-

-

3 Expenditure on Charitable Activities

Total funds 2024 Total funds 2023

Analysis
Food & Gifts		 £
7,479.00
7,479.00		 £
-
-

5

PENEIEL ASSEMBLY

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 May 2024

4 Other Expenditure

Analysis

Telephone &
Internet
Licence FEE
Sundries &
Insurance
Postage,
Stationary &
Advertisement
Travelling &
Subsistence
Sponsorship
Costs
Depreciation
Charge for the
Year -
Fixtures &
Fittings
Rental
Expense
Wages & Sub-
contractors
Staff Training
Bank Charges
Legal &
Professional		 Unrestricted
funds
£
2,114.00

185.00
1,279.00
1,573.00
1,340.00
1,378.00
2,037.00
2,352.00
6,168.00

597.00

12.00
776.00
19,811.00		 Total
funds 2024
£

2,114.00

185.00

1,279.00

1,573.00

1,340.00

1,378.00

2,037.00

2,352.00

6,168.00

597.00

12.00

776.00

19,811.00		 Total
funds 2023
£

-

-

-

-

-

-

-

-

-

-

-

-

-

6

PENEIEL ASSEMBLY

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 May 2024

5 Tangible Fixed Assets

5.1 Cost or valuation

At 01 June
2023
Additions
Disposals
Revaluations
Transfers
At 31 May
2024		 Fixtures &
Fittings
£
-
11,318.00
-
-
-
11,318.00

5.2 Amortisation and impairments

At 01 June
2023
Additions
Disposals
Revaluations
Transfers
At 31 May
2024		 Fixtures &
Fittings
£
-
2,037.00
-
-
-
2,037.00

5.3 Net book value

Fixtures & Fittings £ At 01 June 2023 - At 31 May 9,281.00 2024

7

NOTES TO THE FINANCIAL STATEMENTS

PENEIEL ASSEMBLY

FOR THE YEAR ENDED 31 May 2024

6 Cash at bank and in hand

Cash at
bank and
on hand		 Total
funds 2024
£

660.00
660.00		 Total funds
2023
£

2,425.00

2,425.00

7 Creditors: Amounts falling due within one year

Other creditors Total funds 2024

£
7,439.00
7,439.00		 Total funds 2023
£
756.00
756.00

8

PENEIEL ASSEMBLY

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 May 2024

8 Charity funds

8.1 Details of material funds held and movements during the CURRENT reporting period

Fund names Fund
balances
brought
forward		 Income Expenditure Transfers Gains
and
losses		 Fund
balances
carried
forward
£ £ £ £ £ £
Unrestricted funds
1,669.00 28,123.00
(27,290.00)		 - - 2,502.00
Total 1,669.00 28,123.00
(27,290.00)		 - - 2,502.00
8.2 Details of material funds held and movements during the PREVIOUS reporting period
Fund names Fund
balances
brought
forward		 Income Expenditure Transfers Gains
and
losses		 Fund
balances
carried
forward
£ £ £ £ £ £
Unrestricted funds
1,669.00 - - - - 1,669.00
Total 1,669.00 - - - - 1,669.00

8.3 Transfers between funds This Year

Amount
£
Between unrestricted and restricted funds -
Between endowment and restricted funds -
Between endowment and unrestricted funds -
Last Year
Amount
£
Between unrestricted and restricted funds -
Between endowment and restricted funds -
Between endowment and unrestricted funds -

9

IIYDEPENDEDNT EXAMINER'S REPORT Account for Year Ended 31-05-2024: PENIEL ASSEMBLY Chari No. 1199519 I report on the account s of the Trust for the year ¢nded 3110512024 which aTe set out onpage 01 to 05. Res ective Res onsibililies of Trustees and ExauRiner The charity's truste¢s are responsible for the preparation of the accounts. The charity's trustees consideT that on audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed. It is my responsibility to: Examine the acciiunts under section 145 of the Charities Act To follow the procedures laid down in the general Direction given by the charity CoTnmission (under section 145 (5) (b) of the Charities Act, and To state whelher parti¢ular matters have come to rny attention. Basis of Inde endent Examiner's Statement My examination was carried out in accordance with general Directions given by the Charity ComTlli8sion. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any LEnusual items or disclosures in the accounts and sccking explanations fro￿ the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently Eko opinion is given as to whether the account present a 'lrue and fair, vKew and the report is limited to those tnatters set out in the state￿ent below. Inde endent Examiner's Statement In connection with my examinatlDn. no material matters have come to my attention which gives me cause to believe that in. any material respe¢t.' Accounting records were not kept in accordance with sectioll 130 of the Charities Act or The accounts do not accord with the accounting records. I have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understauding of the accounts to be Teached. r Azmat li (IFA) Institutes of Financidl ALcount 450 Cheetham Hill Road. Manchester, M8 9LE Date: 2110312025