## PRAISE HARVEST COMMUNITY CHURCH ## FINANCIAL STATEMENTS ## FOR THE YEAR ENDED 23 January 2024 ## CHARITY NUMBER: 1202038 1 ## Table Of Contents Legal & Administrative Details ...................................................... 3 Trustees’ Report ............................................................................ 4 - 5 Independent Examiner’s Report ..................................................... 6 - 7 Receipts and Payments Accounts .................................................. 8 2 ## **PRAISE HARVEST COMMUNITY CHURCH** # **LEGAL & ADMINISTRATIVE DETAILS** YEAR ENDED 23[rd] January 2024 ## **ADDRESS FOR CORRESPONDENCE** Unit 4, 2A Cambridge Street Bletchley Milton Keynes MK2 2TP ## **REGISTERED CHARITY NUMBER** 1202038 ## **GOVERNING DOCUMENT** CONSTITUTION ADOPTED 07/12/2022 ## **TRUSTEES/ DIRECTORS** JUSTIN AMPOFO CARSCANDRA BASH WILLIAM APPIAH ## **PRINCIPAL BANKERS** Metro Bank One Southampton Row London WC1 5HA 3 ## **TRUSTEES’ REPORT** The trustees are pleased to present their report for the year ended 23[rd] January 2024 for the charity Praise Harvest Community Church (PHCC MK) with charity number. 1202038 The Trustees of the charity are: JUSTIN AMPOFO CARSCANDRA BASH WILLIAM APPIAH The principal address of the charity is: Unit 4, 2A Cambridge Street Bletchley Milton Keynes MK2 2TP ## **Structure, Governance and Management** The Charity governing document is a constitution that was approved on 07/12/2022. The Charity is governed by a board on which the trustees are represented. It meets regularly to review, plan activities and monitor the charity’s financial position. ## **Objectives and Activities** The objective of PHCC MK is to advance the Christian religion for the benefit of the public through the holding of prayer meetings, public celebration of religious festivals, producing and/or distributing literature on the Christian faith to enlighten others about Christian religion. Providing pastoral care, Child naming and christening as well as burials and carrying out missionary and evangelistic work. ## **Achievements and Performance** During the year under review PHCC MK carried religious and charity events as detailed below. - Outreach programs were organized to witness to the members of the public on Saturdays and Sundays - Inter church sports activities were held. - Fund raising activities were organized to raise funds for the running of the church - Tea & breakfast event was held to promote the church and support local community - Visit to shelter home to provide meal and community support 4 ## **Fixed Assets** The charity does not keep fixed asset and seek to recognise all expenditure in the year is incurred. During the year the charity incurred leasehold improvement of £10k. This includes carpeting, partitioning of premises and electricals works. ## **Premises Cost** Premises cost includes rent £52k of which £7k relates to prior year and £2k for business rates. ## **Loan** The charity operates strictly on receipts in the form of tithes, offering and donations from members and the public. However an interest free loan of £4k was raised during the year to pay for leasehold improvements works. 5 ## **INDEPENDENT EXAMINER’S REPORT** ## **Financial Review** The income of the charity was £72k for the period of which £69k was raised through tithes and offering and £3k in donations. The charity is also well positioned to manage its costs effectively. ## **Reserve Policy** It is the policy of the charity to maintain unrestricted funds. These are the reserves of the organization and equivalent to 3 months of unrestricted expenditure. The aim is to ensure there are adequate funds to cover any emergency expenditure that may arise. They will seek to maintain this level throughout the year. ## **Risk Management** The charity has assessed all the major risks to which the charity is exposed to, in particular those related to operations and finances of the charity and are satisfied that systems are in place to mitigate exposure to major risks. ## **Trustee Responsibilities** Under the Charities Act 2011, the trustees are required to prepare a statement of accounts for each accounting year which gives a true and fair view of the state of the church. They are required to: 1. Select suitable accounting policies and apply them consistently. 2. Make judgements and estimates that are reasonable and prudent. 3. State whether the applicable accounting standards have been followed. 4. Prepare financial statements on an ongoing basis. They are responsible for keeping proper records which disclose with reasonable accuracy the finances of the church at any time and to ensure that such accounts comply with the Charities Act 2011.They also have a responsibility to safeguard the assets of the church and to take reasonable steps to detect fraud or other irregularities. This report of the charity for the year ended 23[rd] January 2023 relates to the Receipts and Payment Account set out on page 7 of this report. 6 ## **Respective responsibilities of Trustees and examiner** The charity’s Trustees consider that an audit is not required for this year under section 43(2) of the Charities Act 1993 (the Act) and that an independent examination is needed. It is my responsibility to: - examine the accounts (under section 43 of the Act) - follow the procedures laid down in the General Directions given by the Charity Commission (under section 43(7)(b) of the Act); and - state whether particular matters have come to my attention. ## **Basis of the independent examiner’s statement** My examination included a review of the accounting records kept by the charity. It included consideration of any unusual items or disclosures in the accounts and seeking explanation from the Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the accounts. ## **Independent Examiner’s statement** In the course of my examination, no matter has come to my attention: 1. which gives me reasonable cause to believe that, in any material respect, the Trustees have not met the requirements to ensure that: - proper accounts records are kept in accordance with section 41 of the Act; and - accounts are prepared which agree with the accounting records and comply with the account requirements of the Act; or 2. to which in my opinion attention should be drawn in order to enable proper understanding - of the accounts to be reached. ## **K Doudu** 58 Colebroke Lane Loughton Essex IG10 2HJ 04/11/2024 7 ## **RECEIPTS AND PAYMENTS ACCOUNT** ## RECEIPTS AND PAYMENTS ACCOUNTS |INCOME
Tithes and offering
Donations
Total Income
EXPENSES
Rent & Business Rate
Events & Seminars
Donations in kind
Leasehold improvement
Office & General Admin
Telephone & Communication
Net (Deficit)/Surplus for the year
Cash Funds on hand 01/02/23
Loan
Cash Funds on hand 01/02/24|2023
£
69,106
2,900| |---|---| ||72,006| ||54,152
8,207
1,036
10,427
1,042
852| ||75,716| ||-3,710
3,466
4,000| ||3,756| **The receipts and payment accounts was approved on SIGNED ON BEHALF OF THE BOARD BY:** **NAME: Justin B K Ampofo 04/11/2024** **STATUS TRUSTEE** 8