House of Prayer accounts 2015. The costs of losing your charitable status

2014-10-27Christina Airport1

 

The fact that the House of Prayer has lost its charitable status shows the Charity Regulator has no confidence that the House of Prayer has any charitable focus. It is the evidence of Dialogue Ireland that not only is there no charitable intent, but the opposite, it is a fraudulent, scam taking advantage of mainly the elderly and vulnerable adults.

This our conclusion from the evidence is as follows:

The accounts show a contingent liability which arises because the Company lost its charitable status and if this is not reversed a sum of €125,000 will be due to Revenue. No provision has been made for this but the level of Stock and Cash Equivalents is € 403,935 so funds are there to pay.

Our Lady Queen of Peace House of Prayer (Achill) Limited

Review of Accounts to 31 December 2015

In common with most Financial Statements there is a limited disclosure of data, which renders a full review nigh on impossible.The figures as shown below endeavour to restate the data by calculation from the figures shown.

Income

There is a drop in income from 2014, in the sum of €74,853The constituents elements of this drop are Sales of religious items down € 4393 and Donations down € 70469.

This drop in donations (94% of total drop) may be partly due to the number of scandals in the Charitable sector which are affecting all organisation, but may also be due to the age profile of their doners and their natural decline.

Expenditure

The total expenditure for 2015as shown in the Profit and Loss is € 451167.  We are not given a complete breakdown of this but from detail shown we can deduce the following.

2015                                         2014

Salaries                                                                      222,448                                     221,344

Depreciation                                                              44,357                                       37,737

Other expenses                                                      180,862                                     145,808

Audit                                                                           3,500                                          3,463

Total                                                                        451,167                                      408,352

=======                                     ======

Notes

Of the €44357 depreciation only € 5,790 does not relate to buildings, which are depreciated despite the tendency to rise in value.

Other expenses have risen by €35,054 which in a year of falling donations may indicate either a lack of concern or a once of cost.

The accounts show that the salaries figure which includes employer prsi and other such costs realtes to 2 House attendants and 2 admin roles. This would give an average of € 55,612 per person (the average industry wage is €35000 per CSO)

Other Data

During the year the following assets where purchased.

Vehicle(s)   cost             €25,500

Buildings                        €47,137
The accounts show a contingent liability which arises because the Company lost its charitable status and if this is not reversed a sum of €125,000 will be due to Revenue. No provision has been made for this but the level of Stock and Cash Equivalents is € 403,935 so funds are there to pay.

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