2023-12-31-accounts - The Redeemed Assemblies Trust (Love Power Centre)

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CHARITY (CIO) REGISTERED NUMBER: 1201672 ENGLAND AND WALES

THE REDEEMED ASSEMBLIES TRUST (LOVE POWER CENTRE) REPORTS OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2023

THE

REDEEMED ASSEMBLIES TRUST (LOVE POWER CENTRE) CONTENTS OF FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2023

	PAGE
CHARITY INFORMATION	2
TRUSTEE REPORT	3, 4
STATEMENT OF TRUSTEES RESPOSIBILTIES	5
INDEPENDENT EXAMINERS REPORT	6
STATEMENT OF FINANCIAL ACTIVITIES	7
BALANCE SHEET	8
NOTES TO THE ACCOUNT	9, 10

THE REDEEMED ASSEMBLIES TRUST (LOVE POWER CENTRE) CHARITY INFORMATION FOR THE YEAR ENDED 31ST DECEMBER 2023

TRUSTEES:

Rich Efeosa Ovenseri-Igbinigie (Chair) Fabiana Connor (Trustee) Ukinebo Glory Mustapha (Trustee) REGISTERED OFFICE Moorside Street Droylsden Manchester M43 7HL CHARITY NUMBER 1201672 CHARITY TYPE CHARITABLE INCORPORATED ORGANISTIONS (CIO) ACCOUNTANTS Quicksolve Accountants 1040 Stockport Rd Manchester M19 3WX 0161 4789412 info@qsaccountants.co.uk www.qsaccountants.co.uk BANKERS Lloyds Bank

THE REDEEMED ASSEMBLIES TRUST (LOVE POWER CENTRE) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2023

The trustees present their report FOR THE YEAR ENDED 31ST DECEMBER 2023.

STRUCTURE, GOVERNANCE AND MANAGEMENT

The charity (CIO) was registered with the charity Commission on 23[rd] January 2023.

The Trustees have assessed the major risks to which charity is exposed, in particular those relating to the operations and finances of the charity, and believe effective insurance, checks, controls and procedures are in place to mitigate those risks.

The Trustees meet regularly to attend legal and administrative affairs of the Charity, to review and set policy and to establish long term strategies for the charity.

The trustees hold the powers of appointing and removing trustees.

OBJECTIVES AND ACTIVITIES

The Charity’s objects are:

The Redeemed Assemblies Trust (Love Power Centre) provides benefits to the public, which include but are not limited to:

Advancing the Christian faith in Manchester and in other parts of the United Kingdom or the world, as the trustees may deem appropriate from time to time, and fulfilling other purposes that are exclusively charitable according to the law of England and Wales, and which are connected with the charitable work of the Trust, by means of (but not limited to)
Establishing churches for the preaching of the Gospel of Christ Jesus.
Organizing regular Christian seminars, workshops, lectures, conferences, conventions, and educational events.
Distributing Christian literature, audio and visual aids/products, and disseminating the Christian message through other media of communication.
Organizing training courses and setting up Bible classes.
Providing regular counselling, prayers, and Christian advice.

The trustee has paid due care to guidance issued by the Charity Commission’s general guidance regarding public benefit and are satisfied that the charity’s objectives and principal activities are for the public benefit.

THE

REDEEMED ASSEMBLIES TRUST (LOVE POWER CENTRE) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2023

Financial Review

The main funding sources for the charity are the donations received during the year was £18,489 has been raised.

The charity’s aim is to disburse all the funds at its disposal for the benefit of the community and address the objectives mentioned above.

Future Plan:

The charity plans to continue and expand the activities outlined above in the coming years. Additionally, it will focus on educating young people and improving the well-being of the elderly and children in the community. The charity aims to help the community utilize their mental and health skills to further advance religious education.

THE

REDEEMED ASSEMBLIES TRUST (LOVE POWER CENTRE) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2023

RESPONSIBILITIES OF TRUSTEES

The Trustee are required to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of its surplus and deficit for that period. In preparing those accounts, the Trustees are required to;

Select suitable accounting policies and then apply them consistently.
Make judgments and estimates that are reasonable and prudent.
State whether applicable accounting standards and statements of recommended practice have been followed, subject to any departures disclosed and explained in the financial statements; and Prepare the financial statements on the going concern basis unless it is inappropriate to presume that this basis applies.

The Trustees are responsible for ensuring proper accounting records are maintained which disclose with reasonable accuracy at any time the financial position of the charity. They are also responsible for safeguarding the assets of the charity and for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Trustees may, in respect of any accounting year, elect under s133 charities Act 2011 to prepare – (a) a receipts and payments account, and (b) a statement of assets and liabilities, instead of a statement of accounts under section 132 (1) Charities Act 2011 if gross income in any financial year does not exceed £250,000.

The Trustees have confirmed that an independent examination is not required under section 145 Charities Act 2011 due to the income received during the year was under £25,000.

DECLARATION

The Trustees declare that they have approved the Trustees’ report above.

Date 24[th] October 2024

.................................................... Signed Fabiana Connor (Trustee)

THE

REDEEMED ASSEMBLIES TRUST (LOVE POWER CENTRE) INDEPENDENT EXAMINER REPORT TO THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2023

RESPECTIVERESPONSIBILITIES OF TRUSTEES AND EXAMINER

The charity’s Trustees are responsible for the preparation of the accounts. The charity’s Trustees consider that audit is not required for the period under section 144 of the Charities Act 2011 and also the independent examination is not needed due to the fact that the income of the charity is between under £25,000 for the year up to 31[st] December 2023.

THE

REDEEMED ASSEMBLIES TRUST (LOVE POWER CENTRE) RECEIPTS AND PAYMENTS ACCOUNT FOR THE YEAR ENDED 31ST DECEMBER 2023

		Unrestricted	Restricted	Endowment	Total
		Fund	Funds	Funds	Funds
	Notes	£	£	£	£
Incoming Resources
Income for the year	2	18,489	-	-	18,489
		----------	---------	----------	----------
		18,489	-	-	18,489
		======	======	======	======
Resources Expended
Charitable Expenditure	3	16,569	-	-	16,569
		=====	======	======	======
Net of Receipts/ (Payments)		1,920	-	-	1,920
Balance Brought down
At 01 January 2023		0	-	-	0
		---------	---------		---------
---------
Balance Brought forward
At 31 December 2023		1,920	-	-	1,920
		======	======	======	======

THE

REDEEMED ASSEMBLIES TRUST (LOVE POWER CENTRE) STATEMENT OF ASSETS AND LIABILITIES AS AT 31ST DECEMBER 2018

	Unrestricted	Restricted	Endowment	Endowment	Total
	Fund	Funds	Funds		Funds
	£	£	£		£
Fixed Assets
Land and Building	0	-		-		0
	----------	---------		----------		----------
	0	-	-		0
	======	======	======		======
Current Assets
Debtors	-	-	-		-
Cash at Bank/ in Hand	1,920	-	-		1,920
	----------	---------		----------		----------
	1,920	-	-		1,920
Creditors	(0)	-	-		(0)
	---------	----------		----------		----------
Net Current Assets/ (Liabilities)	1,920	-	-		1,920
	======	======	======		======
Total Assets less current liabilities	1,920	-	-		1,920
Creditors
Amount falling due after one year	(0)	-	-		(0)
	----------	----------	----------		-----------
Net Assets	1,920	-	-		1,920
	======	======	======		======
Reserves
General Reserve Fund	1,920	-	-		1,920
	----------	---------		----------		----------
Total Funds	1,920	-	-		1,920
	======	======	======		======

The Financial Statements were approved by the Board of Trustees on 24[h] October 2024 and were signed on its behalf by:

Fabiana Connor Trustee

THE

REDEEMED ASSEMBLIES TRUST (LOVE POWER CENTRE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2023

1 Accounting Policies

Basis of preparation

The financial statements are prepared under the historical cost convention.

The Accounts have been prepared on receipt and payments basis in accordance with the Charity Commission guidance.

2 Analysis of incoming resources:

	£	£	£
	Unrestricted	Restricted	Total
	Fund	Funds	Funds
Income for the year	18,489	-	18,489
	-----------	----------	----------
Total	18,489	-	18,489

3 Analysis of resources expanded:

	£	£	£
	Unrestricted	Restricted	Total
	Fund	Funds	Funds
Premises Cost	8,545	-	8,545
Entertainment	194	-	194
Printing Postage & Stationary	800	-	800
Repairs & Renewals	5,992	-	5,992
Travel and Subsistence	88	-	88
General Administration	394	-	394
Service and Bank charges	104	-	104
Sundry Expenses	60	-	60
Donations	490	-	490
Waste & Cleaning	6	-	6
	-----------	----------	----------
Total Expenditures	16,569	-	16,569

4 Income

Income from donations, membership fees and gifts are only accounted for only when it is received.

THE REDEEMED ASSEMBLIES TRUST (LOVE POWER CENTRE) NOTES TO THE FINANCIAL STATEMENTS CONTINUED FOR THE YEAR ENDED 31ST DECEMBER 2023

5 Expenditure

Expenses of the Charity are accounted for only when the actual payment is actually made.

6 Tangible fixed assets

No Tangible fixed assets during the period.

7 Stock

No stock during the year.

8 Debtors:

No Debtors during the period.

9 Creditors:

There were no creditors during the period.

11 Trustees:

None of the Trustees received any remuneration during the year.

12 Employees:

There is no employment cost during the year and first payment to employees were made on first week of January 2024.