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Jubilee Christian Church International Zion Chapel, London UK

Charity No. 1107628

Trustees' Report and Unaudited Accounts For the year ended 31 December 2024

B M Cooper & Co. Limited Chartered Certified Accountants 88 Wood Lane

Dagenham Essex RM9 5SL

Jubilee Christian Church International Zion Chapel, London UK Contents

	Pages
Trustees' Annual Report	2 to 3
Independent Examiner's Report	4
Statement of Financial Activities	5
Balance Sheet	6
Statement of Cash flows	7 to 13
Detailed Statement of Financial Activities	14 to 15

Page 1

Jubilee Christian Church International Zion Chapel, London UK Trustees Annual Report

The Trustees present their report with the unaudited financial statements of the charity for the year ended 31 December 2024.

REFERENCE AND ADMINISTRATIVE DETAILS

Charity No. 1107628

Principal Office

Marks Gate Community Centre Rose Lane Chadwell Heath Essex RM6 5NJ

Trustees

The following Trustees served during the year: Adebola Odunlami Kolawole Jesubayode Matthew Oyeneye Olusina Olubowale Victor Sogaolu

Accountants

B M Cooper & Co. Limited 88 Wood Lane Dagenham Essex RM9 5SL

Bankers

Barclays Bank Plc

OBJECTIVES AND ACTIVITIES

The charity's main objective as set out in the Declaration of Trust is to advance the Christian religion.

The principal activities of the charity are Christian worship and involvement of various ministries and ministers of religion in propagating Christian tenets to members and non-members of the ministry at various meetings.

To achieve the charity's objectives, the charity undertook various activities during the year including Christian outreach programmes designed to increase Christian awareness and spread the gospel of our Lord Jesus Christ.

The trustees are grateful to the many volunteers who freely provided their services to the charity during the year.

ACHIEVEMENTS AND PERFORMANCE

The trustees are pleased to report that the church continued to be successful spiritually by ministering to many people in the following ways;

Page 2

Jubilee Christian Church International Zion Chapel, London UK Trustees Annual Report

FINANCIAL REVIEW

The total incoming resources for the year amounted to £202,672 (2023 - £33,621) and the total resources expended amounted to £10,653 (2023 - £7,452) leaving net surplus for the year of £192,019 (2023 - £26,169) all of which was attributable to general reserves. The balance of fund as at 31st December 2024 was £257,816 (2023 - £192,019).

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.

STRUCTURE, GOVERNANCE AND MANAGEMENT

The charity was established by a charitable trust deed on 21st April 2005.

Trustees are selected from long standing members of the congregation and people from outside of the church who are familiar with and have an empathy with the church's objectives.

Statement of trustees' responsibilities in relation to the financial statements

The charity trustees are responsible for preparing a trustees' annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The Trustees are responsible for keeping proper accounting records that 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 Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.

Signed on behalf of the charity's trustees

..................................................... Kolawole Jesubayode Trustee

20 January 2025

Page 3

Jubilee Christian Church International Zion Chapel, London UK Independent Examiners Report

Independent Examiner's Report to the trustees of Jubilee Christian Church International Zion Chapel, London UK

I report to the trustees on my examination of the accounts of Jubilee Christian Church International Zion Chapel, London UK for the year ended 31 December 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and the related notes.

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'). The trustees consider that an audit is not required for this year under the Charities Act 2011, s.144(2) (the 2011 Act) and that an independent examination is needed.

I report in respect of my examination of the charity'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 have completed my examination. I can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in, any material respect:

the accounting records were not kept in respect of the charity as required by section 130 of the Act; or
the accounts do not accord with those 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 no 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.

........................................ Mr. B. M. Kalejaiye FCCA ACCA B M Cooper & Co. Limited 88 Wood Lane Dagenham Essex RM9 5SL

20 January 2025

Page 4

Jubilee Christian Church International Zion Chapel, London UK Statement of Financial Activities For the year ended 31 December 2024

Unrestricted funds 2024 £ 39,345 225 155,000	Restricted funds 2024 £ 8,102 - -	Total funds 2024 £ 47,447 225 155,000	Total funds 2023 £ 33,544 77 -
194,570 7,860 2,793	8,102 - -	202,672 7,860 2,793	33,621 4,356 3,096
10,653 -	- -	10,653 -	7,452 -
183,917 -	8,102 -	192,019 -	26,169 -
183,917	8,102	192,019	26,169
183,917 6,546	8,102 59,251	192,019 65,797	26,169 39,628
190,463	67,353	257,816	65,797

Page 5

Jubilee Christian Church International Zion Chapel, London UK Balance Sheet At 31 December 2024

Charity No. 1107628 Fixed assets Tangible assets 10 Current assets Cash at bank and in hand Creditors:Amount falling due within one year 11 Net current assets Total assets less current liabilities Net assets excluding pension asset or liability Total net assets The funds of the charity Restricted funds 12 Restricted income funds Unrestricted funds 12 General funds Reserves 12 Total funds	2024 £ 447 447 259,889 259,889 (2,520) 257,369 257,816 257,816 257,816 67,353 67,353 190,463 190,463 257,816	2023 £ 310
		310 68,007
		68,007 (2,520)
		65,487 65,797
		65,797
		65,797
		59,251
		59,251 6,546
		6,546
		65,797

Approved by the trustees on 20 January 2025

And signed on their behalf by:

...................................................

Kolawole Jesubayode Trustee

20 January 2025

Page 6

Jubilee Christian Church International Zion Chapel, London UK Notes to the Accounts For the year ended 31 December 2024

1 Accounting policies

Basis of preparation

The financial statements have been prepared in accordance with 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 if Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.

Change in basis of accounting or to previous accounts

There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.

Fund accounting

Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.
Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values.
Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.

Income

Income
Recognition of	Income is included in the Statement of Financial Activities (SoFA) when the charity
income	becomes entitled to, and virtually certain to receive, the income and the amount of
	the income can be measured with sufficient reliability.
Income with related	Where income has related expenditure the income and related expenditure is
expenditure	reported gross in the SoFA.
Donations and	Voluntary income received by way of grants, donations and gifts is included in the
legacies	the SoFA when receivable and only when the Charity has unconditional
	entitlement to the income.
Tax reclaims on	Income from tax reclaims is included in the SoFA at the same time as the
donations and gifts	gift/donation to which it relates.
Donated services	These are only included in income (with an equivalent amount in expenditure)
and facilities	where the benefit to the Charity is reasonably quantifiable, measurable and
	material.
Volunteer help	The value of any volunteer help received is not included in the accounts.
Investment income	This is included in the accounts when receivable.
Gains/(losses) on	This includes any gain or loss resulting from revaluing investments to market value
revaluation of fixed	at the end of the year.
assets
Gains/(losses) on	This includes any gain or loss on the sale of investments.
investment assets

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Jubilee Christian Church International Zion Chapel, London UK

Notes to the Accounts

Expenditure

Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT expenditure which cannot be fully recovered, and is reported as part of the expenditure to which it relates.
Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs.
Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.
Other expenditure These are support costs not allocated to a particular activity.

Taxation

The charity is exempt from tax on its charitable activities.

Tangible fixed assets and depreciation

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

useful life:
Music Equipment	20% on written down value
Fixtures, Fittings and Equipment	20% on written down value

Freehold investment property

Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise.

Stocks

Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.

Trade and other debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.

Page 8

Jubilee Christian Church International Zion Chapel, London UK Notes to the Accounts

Trade and other creditors

Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period. Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred.

All exchange differences are are taken into account in arriving at net income/expenditure.

Leased assets

Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.

Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases.

Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs. Assets held under finance leases are depreciated in the same way as owned assets.

Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.

Pension costs

The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the charity pays fixed contributions into a separate entity. Once the contributions have been paid the charity has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the charity in independently administered funds.

Receipt of donated goods, facilities and services

All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.

Page 9