**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:
- The statutory duties and obligations of Trustees
- The key governing documents of the Charity, including the Memorandum and Articles of Association
- The Charity's financial resources and the current financial position as reflected in the latest accounts
- The organisation's future plans and strategic objectives
**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:
- The majority of Trustees are not remunerated or otherwise benefited for services rendered.
- Trustees receiving remuneration do not participate in discussions or decisions regarding such remuneration or benefits.
- The Trustees are satisfied that the level and nature of any remuneration or benefits are reasonable and appropriate.
- The decision to remunerate or confer benefits is approved by no fewer than two-thirds of the remaining Trustees.
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:
- Harmony Community Projects
- Concord House Ventures
## **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:
- Annual review of potential risks as part of the strategic planning process
- Implementation of systems and procedures to mitigate identified risks
• 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 advancement of the Christian faith in accordance with the Charity’s Statement of Beliefs
- The relief of individuals experiencing need, hardship, illness, or old age
- •The alleviation of distress within the United Kingdom or internationally, as deemed appropriate by the Trustees
The Charity delivers these objectives through a variety of programmes and activities, including:
- Sunday religious services and discourse
- Wednesday home church bible studies
- Weekly prayer meetings
**HARMONY CHRISTIAN MINISTRIES CONSOLIDATED FINANCIAL STATEMENTS AND TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2025**
- Annual conventions
- Quarterly Leadership & Business Peoples’ Seminars
- Young Adult and Couples’ Retreats
- Youth Summer Camps and Retreats
- •Celebration of religious festivals, including Christmas, New Year’s Eve, and Easter
- Training courses for volunteers and members
- Residential and one-day retreats
- Community outreach initiatives, such as fun days, summer festivals, and concerts
## **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:
- Legal counselling, career guidance, pre-marital and marital counselling, and bereavement support
- Welfare assistance and extracurricular educational support
- Youth engagement and mentoring programmes
• 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**
- Celebrations of major Christian festivals, including Easter, Christmas, and New Year’s Eve (Watchnight)
- Prison Ministry, visiting Cookham Wood and Rochester Prisons biweekly, providing spiritual guidance and support to young inmates. Due to our intervention over the years, a number of them leave the prisons to become responsible citizens.
- Career counselling workshops, offering assistance with CV preparation and interview skills
- Pre-marital and marital counselling in accordance with biblical principles and the ministry’s beliefs.
• 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.
- Counselling on health, bereavement, and family issues, available by appointment
- Provision of facilities for community meetings, counselling sessions, and neighbourhood engagement
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:
- Promoting strong family values and self-development
- Supporting business enterprise and career advancement through seminars and training
- Encouraging home ownership and social responsibility
- Contributing to the local economy and providing employment opportunities
## **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:
- The state of affairs of the Charity
- The incoming resources and application of resources, including income and expenditure, for the year In preparing the financial statements, the Trustees are required to:
- Select suitable accounting policies and then apply them consistently;
- Observe the methods and principles in the Charities SORP FRS 102;
- Make reasonable and prudent judgements and estimates
**HARMONY CHRISTIAN MINISTRIES CONSOLIDATED FINANCIAL STATEMENTS AND TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2025**
- Prepare the financial statements on a going concern basis unless it is inappropriate to presume that the Charity will continue operations.
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:
- the accounting records were not kept in accordance with section 130 of the Charities Act; or
- the accounts did not accord with the accounting records; or
- the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination.
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:
- the charity becomes entitled to the resources;
- it is more likely than not that the trustees will receive the resources; and
- the monetary value can be measured with sufficient reliability.
## **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**|
|---|---|---|