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← Harmony Christian Ministries

2025-03-31-accounts

Company No.3702274

HARMONY CHRISTIAN MINISTRIES

Consolidated Financial Accounts And Trustees Report For The Year Ended 31 March 2025

Charity No. 1105101

HARMONY CHRISTIAN MINISTRIES CHARITY INFORMATION FOR THE YEAR ENDED 31 MARCH 2025

Directors & Trustees: Mr Adedapo Abimbola Oke Mr John Adewale Olulana Mr Fredah Nkandu Babanawo Ms Carolyn Mary Prass

Registered Company Number 3702274 Registered Charity Number 1105101 Registered Address Concord House 23-27 Kemp Road Dagenham Essex RM8 1ST Accountants: Rev Dr Olu Olasode DBE PhD APSA FCCA TL First Accountants & Consultants 1 Copers Cope Road Beckenham, Kent BR3 1NB Bankers: Natwest Bank Plc Barclays Bank Plc

HARMONY CHRISTIAN MINISTRIES CONSOLIDATED FINANCIAL STATEMENTS AND TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2025

TRUSTEES REPORT Introduction

The trustees who are also the directors for the purpose of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2025. The trustees have prepared the accounts in accordance with the Financial Reporting Standard applicable in the UK and the Republic of Ireland (Charities SORP FRS 102) (effective 1 January 2019).

Status and Administration

The Charity is constituted and registered with the Charity Commission under charity number 1105101, and is a Private Limited Company by guarantee without share capital registered with the Companies House under company number 3702274.

Governance and Internal Control

The Trustees of the charity are also Directors of the company. Under the requirements of the Memorandum and Articles of Association, Trustees serve for a year and are re-elected until they resign or are terminated. All Trustees give their time freely and matters relating to remuneration, expenses and related party transactions are disclosed in notes to the financial statements. The trustees meet three times a year including a weekend meeting to review the strategy and performance and to set the operating plans and budgets. In the event of the company being wound up the members are required to contribute an amount not exceeding £10.

Key Management Personnel

The Board of Trustees includes members with extensive experience in business, finance, and governance. Day-to-day management of the Charity is delegated to the Senior Management Team (SMT), which comprises professionals from relevant disciplines. Members of the SMT report directly to the Board as appropriate. The Trustees are responsible for determining the remuneration of the Charity’s key management personnel, benchmarked against comparable roles in the not-for-profit and similar sectors. While the SMT manages operations on a daily basis, the Trustees retain ultimate responsibility for directing and controlling the Charity. Collectively, the Trustees and the Senior Management Team constitute the key management personnel of the organisation.

Trustee Induction and Training

Most trustees are familiar with the workings of the church and Charity being drawn from longstanding church members and Christians from other denominations that have a skill set to offer and an empathy with our core values. New trustees are invited and encouraged to attend a series of short training sessions led by the Chair of the Board and the COO. One major training was also organised by an external Consulting Firm for all Trustees and Directors. These cover:

HARMONY CHRISTIAN MINISTRIES CONSOLIDATED FINANCIAL STATEMENTS AND TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2025

An information pack has been prepared drawing upon relevant Charity Commission publications, including The Essential Trustee. This pack, along with the latest financial statements and governing documents, is provided to all new Trustees. Furthermore, Trustees are encouraged to attend relevant external seminars and training opportunities to ensure ongoing development and good governance practices.

Related parties and cooperation with other organisations

A trustee who offers services to the Association as a Pastor, Minister or other senior spiritual leader may receive remuneration from the Charity's income or property for services rendered, provided that:

These measures ensure transparency, fairness, and alignment with the Charity’s governance standards.

Financial Activities and Results

The net outgoing resources for the year amounted to £3,753,(2024: £11,468) leading to a net surplus carried forward of £991,551 as at 31 March 2025.

Harmony Christian Ministries has the following subsidiaries:

Investment Powers, Policy and Performance

The Charity’s investment powers are governed by its Memorandum and Articles of Association, which set out clear guidelines for the Trustees’ investment decisions. The Trustees continue to manage investments prudently, in line with these provisions, to ensure that the Charity’s funds are safeguarded and appropriately utilised.

Fundraising activities

Harmony Christian Ministries has historically relied on the support of benefactors. Most funds are raised from individuals with whom the Charity maintains close relationships, typically through attendance at one of its churches. Broader engagement is maintained via the Charity’s website and social media channels, which may include invitations to donate.

All contact and donation data are managed centrally within a secure database, with access restricted to a limited number of employees. The Charity conducts its fundraising in compliance with the Fundraising Regulator’s standards and adheres to its moral obligations, always acting responsibly and sensitively given the pastoral relationships with donors.

HARMONY CHRISTIAN MINISTRIES CONSOLIDATED FINANCIAL STATEMENTS AND TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2025

The Charity does not approach vulnerable individuals or hold data on children, nor does it currently employ third-party fundraisers. Complaints are addressed promptly; no complaints were received during the year. Access to the Charity’s services is not conditional on donations.

Reserves

The Trustees regularly assess the level of free reserves required to sustain the Charity’s operations during periods of reduced income. Free reserves are defined as funds not committed to fixed assets or designated as restricted. The Charity has set a minimum free reserve level equivalent to six months of overhead costs, ensuring operational continuity in line with best practice.

Volunteers

The Trustees express their gratitude for the invaluable contributions of volunteers, who support the delivery of the Charity’s services. Members participate on a voluntary basis, choosing the type and level of support they provide, whether through service or financial contribution, without any form of coercion.

Grant Making Policy

During the year, the Charity provided grants to Harmony Christian Centre International, supporting the furtherance of the Charity’s objectives. The Charity also provides grants to Christ to the Rural World, Ghana and Christ Compassion to the Rural World, Nigeria. Grants are awarded in alignment with the Charity’s mission and strategic priorities.

Risk Management

The Trustees are responsible for identifying and reviewing the risks to which the Charity is exposed and for ensuring that appropriate controls are in place to provide reasonable assurance against fraud, error, and operational disruption.

Risk management processes include:

• Establishment of protocols designed to minimise the impact of risks should they materialise These processes are reviewed regularly to maintain effective oversight and safeguard the Charity’s assets and reputation.

Charitable Objects

The objects of Harmony Christian Ministries are:

The Charity delivers these objectives through a variety of programmes and activities, including:

HARMONY CHRISTIAN MINISTRIES CONSOLIDATED FINANCIAL STATEMENTS AND TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2025

Public Benefit

The Trustees are confident that the pursuit of these charitable objectives enables members to practice their Christian faith more effectively, leading to tangible improvements in individual lives and the wider community.

Advancement of Christian Faith

Sunday morning services at Concord House are open to the public and provide teaching and preaching of Christian principles, typically broadcast online from 10:00 a.m. to 12:30 p.m. The Charity actively promotes understanding of the Christian faith, religious tolerance, and ethical practice through a variety of conferences and educational programmes.

Harmony Christian Ministries operates internationally while maintaining strong local community engagement. Its mission is to demonstrate the love of Jesus Christ by addressing the holistic needs of individuals — spirit, soul, and body — across all age groups. Over the past year, the Charity’s services have included:

• Pastoral care for congregants in local branches, including christenings, marriages, and funerals Over the last year, these services have included: legal counselling, career advice, pre-marital and marital counselling, bereavement counselling, welfare provision and support, extra curriculum educational support, youth work and many more which are delivered by our members, or guest speakers many of whom are highly skilled and professionally qualified, under the spiritual leadership of our Pastoral Board.

As part of their pastoral responsibilities, our Ministers and Pastors provide spiritual care and support to members and congregants at the main church, as well as at our branches in Basildon and Lagos (Nigeria). Their duties include the regular administration of christenings, marriages, and funerals.

Following the Covid-19 hiatus, the Evangelism Team resumed outreach activities in public spaces such as streets and shopping centres. These efforts include spiritual support, welfare services, and visits to hospitals, prisons, and care facilities.

Community Services

The Charity’s activities are open to all, regardless of faith or membership status. Community engagement includes:

HARMONY CHRISTIAN MINISTRIES CONSOLIDATED FINANCIAL STATEMENTS AND TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2025

• Annual 1000 Christmas Hampers/Supermarket vouchers – Caring Hearts Projects enable our church members to partner with our corporate office to provide hampers/Supermarket vouchers to families in need. Collaborating with the local council members and charities, we distribute two-thirds of these gifts in Dagenham, ensuring we reach those who need them most.

The charity continues to support missionary work in Nigeria and Ghana, with our

partnership with Christ to the Rural World growing significantly each year. During these missionary trips, we distribute food, clothing, health screenings, medical advice, farming materials, and other essential items, alongside sharing the gospel of Christ.

Additional community impact includes:

Education

Educational and empowerment seminars were conducted for parents and residents within the borough, resulting in positive feedback and testimony regarding improved outcomes in examinations and personal development.

Responsibilities of the Trustees

The Trustees, who also serve as the Directors of Harmony Christian Ministries for the

purposes of company law, are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice (UK GAAP).

In accordance with the Charities Act 2011, the Trustees are required to prepare financial statements for each financial year that provide a true and fair view of:

HARMONY CHRISTIAN MINISTRIES CONSOLIDATED FINANCIAL STATEMENTS AND TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2025

The trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. The trustees are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Statement of disclosure to auditors, independent examiner and accountants

So far as the Trustees are aware, there is no relevant audit information of which the Charity’s auditors are unaware. The Trustees have taken all necessary steps to ensure that they are aware of any relevant audit information and have established that the auditors are likewise informed. Conclusion

The Trustees confirm that they have reviewed the operations and activities of the Charity during the year and are satisfied that they have been conducted in accordance with the Charity’s objectives, regulatory requirements, and best practice in governance and financial management.

The Trustees remain committed to the continued advancement of the Charity’s mission, supporting the spiritual, social, and practical needs of the community while ensuring accountability, transparency, and responsible stewardship of resources.

Independent Examiner and Accountants

TL First Accountants Limited has indicated its willingness to continue in office

This Trustees' Report contained therein are approved by the Board of Trustees on the 12 December 2025, and are signed on its behalf by

Mr Adedapo Abimbola Oke Director & Trustee Date: 12 December 2025

HARMONY CHRISTIAN MINISTRIES REPORT OF THE INDEPENDENT EXAMINERS TO TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

INDEPENDENT EXAMINER’S REPORT

I report to the trustees on my examination of the accounts of the Harmony Christian Ministries for the year ended 31 March 2025.

Responsibilities and basis of report

As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”). I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner’s statement

I am qualified to undertake the examination by being a qualified member of the Chartered Association of Certified Accountants (ACCA) and Fellow of the Association (FCCA). I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination (other than that disclosed below *) which gives me cause to believe that in, any material respect:

I have no concerns and have come across any other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Rev Dr Olu Olasode DBE PhD APSA FCCA Chartered Certified Accountant TL First Accountants & Consultants TL First Accountants Limited TL First Limited

Date: 12 December 2025 }

HARMONY CHRISTIAN MINISTRIES CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025

Note
INCOMING RESOURCES
Grants and Donations (including Gift Aids)
3
Investment income
Other Incoming Resources
Total Incoming Resources
RESOURCES EXPENDED
Charitable Activities
4
Governance Costs
Total Resources Expended
Net Incoming / (Outgoing) Resources
Total Funds Brought Forward
Total Funds Carried Forward		 Group
Charity
Group
Charity
2025
2025
2024
2024
£
£
£
£
589,343
570,893
630,432
576,632
70,412
70,412
27,901
27,901
36,175
-
25,123
-
695,930
641,305
683,456
604,533
699,615
643,762
694,763
595,478
68
68
161
161
699,683
643,830
694,924
595,639
(3,753)
(2,525)
(11,468)
8,894
995,304
1,003,722
1,006,772
994,828
991,551
1,001,197
995,304
1,003,722
Unrestricted

There were no recognised gains or losses for the year, other than those included in the Statement of Financial Activites

HARMONY CHRISTIAN MINISTRIES CONSOLIDATED BALANCE SHEET AS AT 31 MARCH 2025

Group Charity Group Charity
Note 2025 2025 2024 2024
Fixed Assets £ £ £ £
Fixed Assets 5 1,527,754 1,519,131 1,572,885 1,561,389
Investment 6 36,884 - 36,884 -
Total Incoming Resources 1,564,638 1,519,131 1,609,769 1,561,389
CURRENT ASSETS
Debtors 7 83,598 120,482 36,521 73,405
Cash and Bank 365,136 365,136 415,566 415,566
Total Resources Expended 448,734 485,618 452,087 488,971
Creditors- within one year 8 (16,911) (19,901) (11,724) (13,069)
Net Current Assets 431,823 465,717 440,363 475,902
Total Assets 1,996,461 1,984,848 2,050,132 2,037,291
Creditors- More than one year 9 (983,651) (983,651) **(1,033,569) ** (1,033,569)
Net Assets 1,012,810 1,001,197 1,016,563 1,003,722
CAPITAL AND RESERVES
Unrestricted Funds 991,551 1,001,197 995,304 1,003,722
Other Reserves 21,259 - 21,259 -
1,012,810 1,001,197 1,016,563 1,003,722

For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account

Approved by the Board of Trustees on 12 December 2025 and signed on their behalf by: yy

Mr Adedapo Abimbola Oke Director and Trustee

21

HARMONY CHRISTIAN MINISTRIES CONSOLIDATED CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2025

Note
Cash flows from operating activities
Cash generated from operations
1
Cash flows from investing activities
Purchase of tangible fixed assets
Interest received
Net Cash flows from investing activities
Cash flow from financing activities
Loan repayments in year
Net cash from financing activities
Change in cash and cash equivalents in the
reporting period
Cash and cash equivalents at the beginning
of the reporting period
Cash and cash equivalents at the end of the
reporting period
RECONCILIATION OF NET
INCOME/(EXPENDITURE) TO NET CASH
FLOW FROM OPERATING ACTIVITIES - Note 1
Net income/(expenditure) for the reporting
period (as per the Statement of financial
activities)
Adjustments for:
Depreciation charges
Interest received
Decrease/(increase) in debtors
(Decrease)/increase in creditors
ANALYSIS OF CHANGES IN NET DEBT - Note 2
Net cash Cash at bank and in hand
As At 01 04 24
Cash flow
Net cash Cash at bank and in hand
As At 31 03 25
Debt As At 01 04 24
Cash flow
Debt As At 31 03 25
Total Changes in net debt		 Group
Charity
2025
2025
£
£
13,087
13,087
(14,258)
(14,258)
659
659
(13,599)
(13,599)
(49,918)
(49,918)
(49,918)
(49,918)
(50,430)
(50,430)
415,566
415,566
365,136
365,136
(3,753)
(2,525)
59,390
56,516
(659)
(659)
(47,077)
(47,077)
5,186
6,832
13,087
13,087
415,566
415,566
(50,430)
(50,430)
365,136
365,136
1,033,569
1,033,569
(49,918)
(49,918)
983,651
983,651
(618,515)
(618,515)		 Group
Charity
2024
2024
£
£
23,955
24,522
(26,639)
(6,319)
1,601
1,601
(25,038)
(4,718)
(45,243)
(45,243)
(45,243)
(45,243)
(46,326)
(25,439)
461,892
441,004
415,566
415,565
(11,468)
8,894
58,861
55,029
(1,601)
(1,601)
(11,848)
(32,168)
(9,989)
(5,632)
23,955
24,522
461,892
441,004
(46,326)
(25,439)
415,566
415,565
1,078,812
1,078,812
(45,243)
(45,243)
1,033,569
1,033,569
(618,003)
(618,004)

HARMONY CHRISTIAN MINISTRIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENT FOR THE YEAR ENDED 31 MARCH 2025

1 BASIS OF PREPARATION

1.1 Basis of accounting

These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.

The accounts have been prepared in accordance with the Statement of Recommended

Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and with the Charities Act 2011.

The charity constitutes a public benefit entity as defined by FRS 102.

1.2 Going Concern

The charity is a going concern and the accounts have been prepared on a going concern basis.

1.3 Change of accounting policy

There is no change of accounting policy during the period.

1.4 Changes to accounting estimates

There is no change to accounting estimates during the period

1.5 Material prior year adjustments

There are no material prior year adjustments during the period.

2 ACCOUNTING POLICIES

2.1 Income Recognition of income

These are included in the Statement of Financial Activities (SoFA) when:

Offsetting

There has been no offsetting of assets and liabilities, or income and expenses, unless required or permitted by the FRS 102 SORP or FRS 102.

Grants and donations

Grants and donations are only included in the SoFA when the general income recognition criteria are met (5.10 to 5.12 FRS102 SORP).

In the case of performance related grants, income must only be recognised to the extent that the charity has provided the specified goods or services as entitlement to the grant only occurs when the performance related conditions are met (5.16 FRS 102 SORP).

Legacies

Legacies are included in the SOFA when receipt is probable, that is, when there has been grant of probate, the executors have established that there are sufficient assets in the estate and any conditions attached to the legacy are either within the control of the charity or have been met.

Government grants

The charity has received government grants in the reporting period

HARMONY CHRISTIAN MINISTRIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENT FOR THE YEAR ENDED 31 MARCH 2025

Tax reclaims on donations and gifts

Gift Aid receivable is included in income when there is a valid declaration from the donor. Any Gift Aid amount recovered on a donation is considered to be part of that gift and is treated as an addition to the same fund as the initial donation unless the donor or the terms of the appeal have specified otherwise.

Contractual income and performance related grants

This is only included in the SoFA once the charity has provided the related goods or services or met the performance related conditions.

Donated goods

Donated goods are measured at fair value (the amount for which the asset could be exchanged) unless impractical to do so.

The cost of any stock of goods donated for distribution to beneficiaries is deemed to be the fair value of those gifts at the time of their receipt and they are recognised on receipt. In the reporting period in which the stocks are distributed, they are recognised as an expense at the carrying amount of the stocks at distribution.

Donated goods for resale are measured at fair value on initial recognition, which is the expected proceeds from sale less the expected costs of sale, and recognised in 'Income from other trading activities' with the corresponding stock recognised in the balance sheet. On its sale the value of stock is charged against 'Income from other trading activities' and the proceeds from sale are also recognised as 'Income from other trading activities'.

Goods donated for on-going use by the charity are recognised as tangible fixed assets and included in the SoFA as incoming resources when receivable.

Gifts in kind for use by the charity are included in the SoFA as income from donations when receivable.

Donated services and facilities

Donated services and facilities are included in the SOFA when received at the value of the gift to the charity provided the value of the gift can be measured reliably.

Donated services and facilities that are consumed immediately are recognised as income with an equivalent amount recognised as an expense under the appropriate heading in the SOFA.

Support costs

The charity has incurred expenditure on support costs.

Volunteer help

The value of any voluntary help received is not included in the accounts but is described in the trustees’ annual report.

Income from interest, royalties and dividends Income from membership subscriptions

This is included in the accounts when receipt is probable, and the amount receivable can be measured reliably.

Membership subscriptions received in the nature of a gift are recognised in Donations and Legacies.

Membership subscriptions which give a member the right to buy services or other benefits are recognised as income earned from the provision of goods and services as income from charitable activities.

HARMONY CHRISTIAN MINISTRIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENT FOR THE YEAR ENDED 31 MARCH 2025

Settlement of insurance claims

Insurance claims are only included in the SoFA when the general income recognition criteria are met (5.10 to 5.12 FRS102 SORP) and are included as an item of other income in the SoFA.

Investment gains and losses

This includes any realised or unrealised gains or losses on the sale of investments and any

gain or loss resulting from revaluing investments to market value at the end of the year.

2.2 Expenditure and Liabilities

Liability recognition

Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty.

Governance and support costs

Support costs have been allocated between governance costs and other support. Governance costs comprise all costs involving public accountability of the charity and its compliance with regulation and good practice.

Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, eg allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.

Grants with performance conditions

Where the charity gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SoFA once the recipient of the grant has provided the specified service or output.

Grants payable without performance conditions

Where there are no conditions attaching to the grant that enables the donor charity to realistically avoid the commitment, a liability for the full funding obligation must be recognised.

Redundancy cost

The charity made no redundancy payments during the reporting period.

Deferred income

No material item of deferred income has been included in the accounts. Creditors

The charity has creditors which are measured at settlement amounts less any trade discounts Provisions for liabilities

A liability is measured on recognition at its historical cost and then subsequently measured at the best estimate of the amount required to settle the obligation at the reporting date

Basic financial instruments

The charity accounts for basic financial instruments on initial recognition as per paragraph 11.7 FRS102 SORP. Subsequent measurement is as per paragraphs 11.17 to 11.19, FRS102 SORP.

HARMONY CHRISTIAN MINISTRIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENT FOR THE YEAR ENDED 31 MARCH 2025

2.3 Assets

Tangible fixed assets for use by charity

These are valued at cost and capitalised if they can be used for more than one year, and cost at least £1,000

The charge for depreciation is calculated to write off the cost of the fixed assets over their useful lives on the following bases:

Office & Musical Equipment 25% on the reducing balance Furniture & fittings 25% on the reducing balance Motor Vehicles 25% on the reducing balance Freehold Office 1% on the Straight-Line Method Assets are depreciated from the time at which they are brought into use.

Intangible fixed asset

The charity does not have intangible fixed assets, that is, non-monetary assets that do not have physical substance but are identifiable and are controlled by the charity through custody or legal rights

Heritage assets

The charity does not have heritage assets, that is, non-monetary assets with historic, artistic, scientific, technological, geophysical or environmental qualities that are held and maintained principally for their contribution to knowledge and culture.

Investments

Fixed asset investments in quoted shares, traded bonds and similar investments are valued at initially at cost and subsequently at fair value (their market value) at the year end. The same treatment is applied to unlisted investments unless fair value cannot be measured reliably in which case it is measured at cost less impairment. Investments held for resale or pending their sale and cash and cash equivalents with a maturity date of less than 1 year are treated as current asset investments.

Stocks and work in progress

Stocks held for sale as part of non-charitable trade are measured at the lower or cost or net realisable value.

Goods or services provided as part of a charitable activity are measured at net realisable value based on the service potential provided by items of stock.

Work in progress is valued at cost less any foreseeable loss that is likely to occur on the contract.

Debtors

Debtors (including trade debtors and loans receivable) are measured on initial recognition at settlement amount after any trade discounts or amount advanced by the charity.

Subsequently, they are measured at the cash or other consideration expected to be received. Current asset investments

The charity does not have investments which it holds for resale or pending their sale and cash and cash equivalents with a maturity date less than one year. These include cash on deposit and cash equivalents with a maturity date of less than one year held for investment purposes rather than to meet short term cash commitments as they fall due. They are valued at fair value except where they qualify as basic financial instruments.

HARMONY CHRISTIAN MINISTRIES

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENT FOR THE YEAR ENDED 31 MARCH 2025

3. GRANTS & DONATIONS
Donation, Tithe and Offering
Gift Aid
Grants
Other Income
Investment Income
4. RESOURCES EXPENDED
Direct Costs:
Services & Events
Evangelism & Missions
Staff Costs
Indirect Costs:
Office and Admin Costs
Rent
Professional and Consultancy
Maintenance
Bank charges and Interest
Depreciation
Governance Cost
Total Resources Expended
5. FIXED ASSETS - Group
COST
At 1 April 2024
Additions
Disposals
At 31 March 2025
DEPRECIATION
Accumulated Depreciation
Charge for the year
At 31 March 2025
NET BOOK VALUE
At 31 March 2025
At 31 March 2024		 Group
Charity
2025
2025
£
£
397,424
397,424
173,469
173,469
18,450
-
36,175
-
70,412
70,412
695,930
641,305
Group
Charity
130,249
119,409
77,690
77,660
158,308
136,980
366,247
334,049
106,555
100,945
19,578
19,578
57,316
42,341
22,974
22,974
67,555
67,359
59,390
56,516
68
68
333,436
309,781
699,683
643,830
Land &
Plant &
Building
Machinery
2,335,928
144,142
-
3,354
-
-
2,335,928
147,496
799,469
135,430
46,719
3,016
846,188
138,446
1,489,740
9,050
1,536,459
8,712		 Group
Charity
2024
2024
£
£
488,178
466,678
109,954
109,954
32,300
-
25,123
-
27,901
27,901
683,456
604,533
Group
Charity
88,793
83,024
146,971
143,738
164,932
120,019
400,696
346,781
76,918
73,402
19,321
19,321
45,597
8,577
21,694
21,694
71,676
70,674
58,861
55,029
161
161
294,228
248,858
694,924
595,639
Fixtures &
Fttings
Sub Total
150,187
2,630,257
8,743
12,097
-
-
158,930
2,642,354
136,777
1,071,676
5,538
55,273
142,315
1,126,949
16,615
1,515,405
13,410
1,558,581

HARMONY CHRISTIAN MINISTRIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENT FOR THE YEAR ENDED 31 MARCH 2025

5. FIXED ASSETS - Group

COST
At 1 April 2024
Additions
Disposals
At 31 March 2025
DEPRECIATION
Accumulated Depreciation
Charge for the year
At 31 March 2025
NET BOOK VALUE
At 31 March 2025
At 31 March 2024
5. FIXED ASSETS - Charity
COST
At 1 April 2024
Additions
Disposals
At 31 March 2025
DEPRECIATION
Accumulated Depreciation
Charge for the year
At 31 March 2025
NET BOOK VALUE
At 31 March 2025
At 31 March 2024
COST
At 1 April 2024
Additions
Disposals
At 31 March 2025
DEPRECIATION
Accumulated Depreciation
Charge for the year
At 31 March 2025
NET BOOK VALUE
At 31 March 2025
At 31 March 2024		 Motor
Sub Total
Vehicle
£
£
2,630,257
48,879
12,097
-
-
-
2,642,354
48,879
1,071,677
48,879
55,273
-
1,126,950
48,879
1,515,405
-
1,558,580
-
Land &
Plant &
Building
Machinery
£
£
2,335,928
144,142
-
3,354
-
-
2,335,928
147,496
799,469
135,430
46,719
3,016
846,188
138,446
1,489,740
9,050
1,536,459
8,712
Motor
Sub Total
Vehicle
£
£
2,630,257
48,879
12,097
-
-
-
2,642,354
48,879
1,071,677
48,879
55,273
-
1,126,950
48,879
1,515,404
-
1,558,580
-		 Computer
Equipment
Total
£
£
42,029
2,721,165
2,161
14,258
-
-
44,190
2,735,423
27,724
1,148,280
4,117
59,390
31,841
1,207,670
12,349
1,527,754
14,305
1,572,885
Fixtures &
Fttings
Sub Total
£
£
150,187
2,630,257
8,743
12,097
-
-
158,930
2,642,354
136,778
1,071,677
5,538
55,273
142,316
1,126,950
16,614
1,515,404
13,409
1,558,580
Computer
Equipment
Total
£
£
21,592
2,700,728
2,161
14,258
-
-
23,753
2,714,986
18,783
1,139,339
1,243
56,516
20,026
1,195,855
3,727
1,519,131
2,809
1,561,389

HARMONY CHRISTIAN MINISTRIES

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENT FOR THE YEAR ENDED 31 MARCH 2025

6.Investment
At 1 April 2024
Additions
Disposals
At 31 March 2025
7.DEBTORS
Trade Debtors
Other Debtors
Taxation & Social Security Cost
Inter Company
8.CREDITORS - Due within on year
Trade Creditors
Taxation & Social Security Cost
Groups & Association
Inter Company
9.CREDITORS – Due after one year
Bank Loans by Instalment 1
Bank Loans by Instalment 2		 Group
Charity
2025
2025
£
£
36,884
-
-
-
-
-
36,884
-
-
-
83,598
83,598
-
-
-
36,884
83,598
120,482
5,000
5,000
3,479
3,479
8,431
8,431
-
2,991
16,910
19,901
519,973
519,973
463,678
463,678
983,651
983,651		 Group
Charity
2024
2024
£
£
16,564
-
20,320
-
-
-
36,884
-
-
-
36,521
36,521
-
-
-
36,884
36,521
73,405
4,000
4,000
1,454
1,454
6,270
6,270
-
1,345
11,724
13,069
569,891
569,891
463,678
463,678
1,033,569
1,033,569

10. Related Party Transaction

During the financial year under review HCM the parent company held funds on behalf of its subsidiary Harmony Community Project (HCP) the net balance owed to HCP at the year end was £2,991 (March 24 - £1,345).

HARMONY CHRISTIAN MINISTRIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENT FOR THE YEAR ENDED 31 MARCH 2025

Subsidiary Organisations
INCOMING RESOURCES
Grants and Donations (including Gift Aids)
Investment income
Other Incoming Resources
Total Incoming Resources
RESOURCES EXPENDED
Charitable Activities
Governance Costs
Total Resources Expended
Net Incoming / (Outgoing) Resources
Total Funds Brought Forward
Total Funds Carried Forward
GRANTS & DONATIONS
Donation, Tithe and Offering
Gift Aid
Grants
Other Income
Investment Income
RESOURCES EXPENDED
Direct Costs:
Services & Events
Evangelism & Missions
Staff Costs
Indirect Costs:
Office and Admin Costs
Rent
Professional and Consultancy
Maintenance
Bank charges and Interest
Depreciation
Governance Cost
Total Resources Expended		 Unrestricted Unrestricted
2025
2024
£
£
18,450
53,800
-
-
36,175
25,123
54,625
78,923
55,853
99,286
-
-
55,853
99,286
(1,228)
(20,363)
12,840
33,203
11,612
12,840
2025
2024
£
£
-
21,500
-
-
18,450
32,300
36,175
25,123
-
-
54,625
78,923
2025
2024
£
£
10,840
5,769
30
3,233
21,328
44,914
32,198
53,916
5,611
3,516
-
-
14,976
37,020
-
-
194
1,002
2,874
3,832
-
-
23,655
45,370
55,853
99,286
Harmony Community
Project
Harmony Community
Project
Harmony Community
Project		 2025
2024
£
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
2025
2024
£
£
-
-
-
-
-
-
-
-
-
-
-
-
2025
2024
£
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Concord House Ventures
Concord House Ventures
Concord House Ventures

HARMONY CHRISTIAN MINISTRIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENT FOR THE YEAR ENDED 31 MARCH 2025

Fixed Assets
Fixed Assets
Investment
Total Incoming Resources
CURRENT ASSETS
Debtors
Cash and Bank
Total Current Assets
Creditors- within one year
Net Current Assets
Net Assets
CAPITAL AND RESERVES
Unrestricted Funds		 2025
2024
£
£
8,621
11,495
-
-
8,621
11,495
2,991
1,345
-
-
2,991
1,345
-
-
2,991
1,345
11,612
12,840
11,612
12,840
11,612
12,840
Harmony Community
Project		 2025
2024
£
£
-
-
36,884
36,884
36,884
36,884
-
-
-
-
-
-
(36,884)
(36,884)
(36,884)
(36,884)
-
-
-
-
-
-
Concord House Ventures