Trustees’ Annual Report POWER OF PRAYERS MINISTRIES
This Trustees’ Annual Report is prepared for the year ended 31 September 2023 by the trustees of Power of Prayers Ministries, Registered charity number 1201718.
This report outlines the church’s activities, achievements, financial position, governance, and future plans, in accordance with applicable charity regulations and best practice in the United Kingdom and Ireland.
Reference and Administrative Details
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Charity Name: Power of Prayers Ministries
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Charity Registration Number: 1201718
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Address: 4 Rawsthorne Avenue, Manchester, England, M18 7GB
Trustees:
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Adekunle Taiwo Stephens
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Aderemi Stephens
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Omoniyi Abiona
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Izevbigie Wilson Omorogiuwa
Structure, Governance and Management
Power of Prayers Ministries is constituted by its Constitution and managed by a board of trustees. Trustees are appointed according to the rules set out in the constitution. The trustees meet regularly to oversee the charity’s activities, ensure compliance with regulations, and set the strategic direction.
Objectives and Activities
The principal objective of Power of Prayers Ministries is the advancement of the Christian faith, fostering religious education, worship, and community outreach. Activities during the year included:
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Weekly worship services and prayer meetings
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Sunday school and youth programmes
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Pastoral care and counselling
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Community outreach, including food banks and support for vulnerable individuals
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Missionary and charitable support locally and abroad
Achievements and Performance
In 2023, Power of Prayers Ministries continued to serve its congregation and the wider community. Key achievements included:
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Successful reintroduction of in-person services post-pandemic.
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Expansion of youth engagement through new activities and events
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Increased support for local families through food and essentials distribution
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Hosting special events, such as Christmas and Easter services, bringing the community together
Financial Review
Income for the year comprised regular giving, and donations. Expenditure was primarily directed towards ministry costs and charitable outreach. The financial position remains stable, with reserves sufficient to meet ongoing obligations.
Risk Management
The trustees regularly review the principal risks facing the charity, including financial, safeguarding, and operational risks. Steps have been taken to mitigate these risks, such as implementing safeguarding policies, and ensuring compliance with regulatory requirements.
Plans for the Future
Looking ahead, Power of Prayers Ministries aims to:
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Continue to grow the congregation and community engagement
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Develop new outreach initiatives to support those in need
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Acquire facilities for worship and community use
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Strengthen financial sustainability through diversified income streams
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Invest in leadership training and volunteer development
Trustees’ Responsibilities Statement
The trustees are responsible for preparing the annual report and financial statements in accordance with applicable law and regulations. They confirm that they have complied with their duty to have due regard to the guidance published by the Charity Commission in exercising their powers and duties.
Approval
This report was approved by the board of trustees on 30 September 2024 and signed on their behalf by:
Adekunle T Stephens (Chair of Trustees)
POWER OF PRAYERS MINISTRIES 1201718 Receipts and payments accounts CC16a For the period 1/26/2023 9/30/2023 To from
| Section A Receipts and payments | ||||
|---|---|---|---|---|
| A1 Receipts Donations 5,218 - - - - - - - 5,218 - - Sub total - Total receipts 5,218 A3 Payments Travel and Subsistence 44 Rent 1,700 Donations 505 SundryExpenses 28 Accountancy 500 legal and Professsional 30 Purchases 54 - - Sub total 2,861 - - Sub total - Total payments 2,861 Net of receipts/(payments) 2,357 A5 Transfers between funds - A6 Cash funds last year end - Cash funds this year end 2,357 Unrestricted funds to the nearest £ Sub total(Gross income for AR) A2 Asset and investment sales, (see table). A4 Asset and investment purchases, (see table) |
to the nearest £ - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Restricted funds |
to the nearest £ Endowment funds |
Total funds to the nearest £ 5,218 - - - - - - - 5,218 - - - 5,218 44 1,700 505 28 500 30 54 - - 2,861 - - - 2,861 2,357 - - 2,357 |
Last year to the nearest £ |
| - - - - - - - - - |
5,218 | - | ||
| - | - | |||
| - | - | |||
| - | - | |||
| - | - | |||
| - | - | |||
| - | - | |||
| - | - | |||
| 5,218 | - | |||
| - - - |
- | |||
| - | - | |||
| - | - | |||
| - | 5,218 | - | ||
| - - - - - - - - - - |
44 | - | ||
| 1,700 | - | |||
| 505 | - | |||
| 28 | - | |||
| 500 | - | |||
| 30 | - | |||
| 54 | - | |||
| - | - | |||
| - | - | |||
| 2,861 | - | |||
| - - - |
- | |||
| - | ||||
| - | - | |||
| - | 2,861 | - | ||
| - | - - - - |
2,357 | - | |
| - | - | - | ||
| - | - | - | ||
| - | 2,357 | - |
Section B Statement of assets and liabilities at the end of the period
| Categories B1 Cash funds B2 Other monetary assets B3 Investment assets B5 Liabilities B4 Assets retained for the charity’s own use |
Details Cash at bank Details Details Details Details Accruals and Deferred Income Total cash funds (agree balances with receipts and payments account(s)) |
to nearest £ 17,592 - - 17,592 Agreement Error to nearest £ - - - - - - 900 Unrestricted funds Unrestricted funds Fund to which asset belongs Fund to which asset belongs Fund to which liability relates |
to nearest £ - - - - OK to nearest £ - - - - - - Cost (optional) - - - - - Cost (optional) - - - - - - - - - - - - - - Restricted funds Restricted funds Amount due (optional) |
to nearest £ Endowment funds |
|---|---|---|---|---|
| - | ||||
| - | ||||
| - | ||||
| - | ||||
| OK | ||||
| to nearest £ Endowment funds |
||||
| - | ||||
| - | ||||
| - | ||||
| - | ||||
| - | ||||
| - | ||||
| Current value (optional) |
||||
| - | ||||
| - | ||||
| - | ||||
| - | ||||
| - | ||||
| Current value (optional) |
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| - | ||||
| - | ||||
| - | ||||
| - | ||||
| - | ||||
| - | ||||
| - | ||||
| - | ||||
| - | ||||
| When due (optional) |
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| Accruals and Deferred Income | 900 | - | ||
| - | ||||
| - | ||||
| - | ||||
| - |
Signed by one or two trustees on behalf of all the trustees
| Signature A Stephens |
Print Name Adekunle Stephens |
Date of approval |
|---|---|---|
| A Stephens | Adekunle Stephens | 9/30/2024 |