Registered Charity Number. 1109326 (England and Wales) IGLESIA DE DIOS MINISTERIAL DE JESUCRISTO INTERNACIONAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024
IGLESIA DE DIOS MINISTERIAL DE JESUCRISTO INTERNACIONAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 CONTENTS Page Legal and administrative details Report of the trustees Auditors Report Statement of financial activities Statement of financial position Statement of cashflows 10 Notes to the financial statements 11-16
IGLESIA DE DIOS MINISTERIAL DE JESUCRISTO INTERNACIONAL LEGAL AND ADMINISTRATIVE DETAILS Tru$teo$ Mrs Julieta Duque Cuartas Mr John Mauricio Londono Rios Mrs Lisbeth Vivian Zuleta Castro Mrs Martha Luaa Martinez Garcia Mrs Mayerlin Restrepo Chacon Auditors G C Forest & Co 190 Billet Road London E175DX Bankers Lloyds Bank PIC High Street Colchester Essex CAF Bank Limited 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ Church Addresses Unit 14 Mill Mead Industrial Centre Mill Mead Road London N179QU 33 Lanrick Road London E14 8FE 4 Bedford Park Sunley House Croydon CRO 2AP Sandfield Primary School Stoke Road Guildford GU14DT 31 Palmerston Road Southampton S014 1LL Hammersmith Academy 25 Cathnor Road London W12 9JD Epiphany Hall Bassano Street London SE22 8RU
Iglesia De Dios Ministerial De Jesucristo Internacional TRUSTEES REPORT for the year ended 30 September 2024 The trustees present their report and the audited financial statements of the charity for the year ended 30 September 2024. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities. (FRS 102> in preparing the annual report and financial statements of the charty- The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019, and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland {FRS 102). The charity is registered with the Charity Commission under Charity Number: 1109326. Trustees of the charlty The trustees who have served during the year and since the year end were as follows: Mrs Julieta Duque Cuartas Mr John Mauricio Londono Rios Mrs Lisbeth Vivian Zuleta Castro Mrs Martha Lucia Martinez Garcia Mrs Mayerlin Restrepo Chacon Power to appoint trustees rests with the board of trustees. by reference to a prOsS defined in the Articles. Training of the New trustees The charity recognises the requirement to keep Truslees currenl in order to best administrate the charity and give help and advice to the staff team. Training and updates from the Charity Commission will be given and circulated as frequently as possible. Charitable objectives The church opens daily and provides three different types of service,. teaching, bilble study and worship. The charity currently operates from seven different sites as detailed in the information section. The charity continues to endeavour to reach out to more people in the community and lo make steps to open more branches to serve other communities. Organisation of the charitable company The Board of Trustees has five members administering the charity. The board meets every four months to discuss and take decisions on behalf of the charity.
Fundraising Practices The charity does not carry out regular significant fundraising activities, the charity has always been blessed by regular generous gifts and regular standing order payments into the bank account. Related parties Two trustees receive remuneration for their work with the charity. J. M. Londono and J D Cuartas. Any connection between a trustee or senior manager of the charity with any contractor must be disclosed to the full board of trustees. In the current year no such related paty transactions were reported. Financial activities and results The charity's collections rose from £857,9359 in 2023 to £1,219,367 due to the charity now having an additional church and holding more services throughout the year. The charity's aitn for the forthcoming year is to continue to grow and increase collections by expanding its London base and to set up meetings outside of the London area to make it possible for the charity to reach out to more people spiritually. The church has also acquired a new freehold property .The charity is also looking to set up more meetings in other parts of the United Kingdom in the coming year to meet growing demand. Plans for the future A full review of the charity's future plans and strategy can be found in the trustees annual report. Public Benefit the charity exists to proclaim the gospel by preaching in churches and halls to introduce people in the UK to Jesus Christ and operates across the nation so people can hear and learn of the teachings of Jesus Christ. In compiling the report the trustees confirm that they have had due regard to the public benefit guidance issued by the Charity Commission. The charity believes that the teachings it provides is a benefit to society and individuals through transforming peoples, lives and the impact on themselves,their families and society as a whole. Reserves Policy The trustees, policy is to aim to retain sufficient cash and liquid assets to meet commitments in case the charity ceases to operate. Wherever possible we would consider this to be 2 months salaries and overheads. Investment Policy There is a freehold reserve held to cover any unexpected costs in repair and improvement of the freehold property owned by the charity. The charity does not hold any long-term investments or endowments. Cash surplus to monthly requirements is held in a savings account.
Risk Analysis Risk management is the process of making and carrying out decisions that will minimise the adverse effect of accidental losses upon the charity. The risk management process is vital to the personal health and safety of employees and the safety of the public. In financial terms, it is vital to our ability to pursue our goals, commence and operate programs and events, and work out our charitable aim in an efficient and professional manner. The trustees of the charity have put in place a risk management strategy to pursue our risk management goals and objectives. These goals and ¢)bjectives include: 1. Avoiding exposure to accidental loss by not undertaking events, contracts or activities where the potential loss is greater than the potential benefit to be derived from these undertakings. 2. Preventing loss by identifying potential loss exposures and implementing policies and procedures to reduce risk of these losses occuring. 3. Controlling losses that occur by: a. Developing contingency plans for possible loss SnaoS b. Proper documentation and investigation of losses 4. Raising the awareness of all Trustee board members. employees. and volunteers conMIng risk management within the charity. These goals and objectives will be accomplished by: a. Establishing a Risk Management Committee led by the chaimian. whose responsibilities will be to implement, monitor, evaluate and revise plans to achieve our goals and objectives. b. Finacial risk management to be monitored on a continual basis by the executive staff and any risks forthcoming to be reported to the chaimian of the trustees al the regular meetings. c. Risk management is a standing item for discussion at each monthly team meeting. 5. Cooperation is needed from all trustees, employees and volunteers. Only by working as a team with common goals and objectives can we ensure the success of this risk management strategy and its part in working out our aims and vision.
Trustees responsibilities The trustees are responsible for preparing financial statements in accordance with applicable law and United Kingdom generally acpted accounting practice. Select suitable accounting policies and apply them consistently, Make judgements and estimates that are reasonable and prudent, Prepare financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue. Auditors A resolution proposing that G C Forest & Co be appointed as auditors of the charity will be put to the Annual General Meeting. Trustees statement of disclosure to the auditor We, the trustees of the charity who held Offi at the date of approval of these financial statements, as set out above, each confirm so far as we are aware, that: there is no relevant audit information of which the charitys auditors are unaware. and we have taken all the steps that we ought to have taken as trustees in order to make ourselves aware of any relevant audit information and to establish that the charitys auditors are aware of that information. By order of the board of trustees 1410312025 Date Mr John Mauricio London Rios Chairman
Iglesia De Dios Ministerial De Jesucristo Internacional Independent Auditor's Report to the Trustees of Iglesia De Dios Ministerial De Jesucristo Internacional Oplnion We have audited the financial statements of Iglesia De Dios Ministerial De Jesucrito Intemacional for the year ended 30 September 2024 which comprise the Statement of Financial Activities, Statement of Financial Posttion, Slalement of Cashflows and notes lo the financial slalemenls. including a summary of signrficanl acwunling policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdorn Accounting Standards, Including, Financial Reporb'ng Standard 102 The Financial Reporting Stsndard applicable in the UK and Republic of Iland (United Kingdom Generally Accepted Accounting Practice}. In our opinion the financial statements= give a true and fair view of the state of the chariws 8ffairs as at 30 September 2024 and of its profrt for the year then ended- have been property prepared in accordance with United Kingdom Generally Accepted Accounting Practice Basls for opinlon We conducted our audr( in accordance with Inlemalional Standards on Audibng (UK) {ISAs IUK}l and applicable law. Our responsibilities under those standards are further described in the Auditorfs responsibili(ies for the audtt of the financial ststements section of our report. We are independent of the company in accordance wth the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe thal the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions rglating lo going concern In auditing the financial statements, we have concluded that the trustees. use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on Ihe work we have performed, we have not identified any material unrtaIntieS relating to events or conditions that, individually or collectively, may c8St signrficant doubt on the companvs ability to continue as a going concern for 8 period of at least twelve m(Mlhs from when the financial stalements are authorised for issue. Our responsibilities and the responsibiltties of the trustees wth respect to going concem are described in the relevant sections of this report. Other information The other infoTmation comprises the information included in the trustees. annual report,other than the financial slalements and our auditor's report Ihereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not tx)ver the other information and. except to the extent otherwise explicitly stated in our report, we do not express any fomi of assurance conclusion thereon. Our responsibility is to read the olher infomiabon and. in doing so. consider whether the other infom)alion is materially inconsistent wth the financial statements or our knoedge obtained in the course of the audit or othermse appears to be materially misststed. If we identify such material inconsislencies or apparent material misstatements, we are required lo determine whether this gives rise lo a Material misstatement in the financial statements themselves. If, based on the work we have perfomied, we conclude that there is a material misststement of this other infomiation, we are required lo report that fact. We have nothing to report in this regard. Matters on which we are required to report by exception In the lighl of the knowledge and understsnding of the company and its environment obtained in the course of the audit, we have not idenbfied material misstatements in the strategic retx)rt or the trustees. report.
George Christodoulou George Christodoulou (Mar 14, 2025 13:54 GMT)
Iglesia De Dios Ministerial De Jesucristo Internacional Statement of Financial Activities for the year ended 30 September 2024 Including Income and Expenditure Account Unrestricted Funds Total 2024 Restricted Funds Total 2024 Total 2024 Total Incoming resources Notes 23 Charitable activities Collections and donations 1.219.367 1.219.367 857,935 Investment income 4.573 4,573 90 Total incoming resources 1,223.940 1,223,940 858,025 Resources expended Charitable expenditure Donations Wages and salaries Premises costs Central support costs Total charitable expenditure 18.749 246.095 283,794 238,191 786.829 18,749 246,095 283,794 238,191 786.829 228,407 245,665 214,146 688,218 Net incoming resources Funds Brought forward Funds carried forward 437.111 1.526.739 1.963,850 437,111 1,526,739 1,963,850 169,807 1,356,932 1,526,739 12 The Statement of Financial activities includes all gains and losses recognised in the year. All incoming resources and resources expended derive from continuing activities. The notes on pages 11 to 16 fonm part of the statutory accounts.
IGLESIA DE DIOS MINISTERIAL DE JESUCRISTO INTERNACIONAL STATEMENT OF FINANCIAL POSITION as at 30 September 2024 Notes 2024 2023 Fixed assets Tangible assets 2,046.842 1,938,802 Current assets Debtors and prepayments Cash at bank Cash in hand 27,250 899,465 3,647 930,362 27,250 602,593 3,047 632,890 Current liabilities Trade creditorslaccruals 10 86,688 62,153 Net current assets Creditors: amounts falling due after more than one year 843,674 570.737 926.666 982,800 Net assets 1,963,850 1.526,739 Funds of the charity Unrestricted funds Freehold reserve 12b 12c 1,883,850 80,000 1,963,850 1.446,739 80,000 1.526,739 Total funds l approve these accounts and confim that I have made available all relevant records and information for their preparation. The financial statements were approved by the trustees on: 1410312025 Date: John Mauricio Londono Rios - Trustee Registered Company Number 1109326 The notes on pages 11 to 16 form part of these financial statements.
IGLESIA DE DIOS MINISTERIAL DE JESUCRISTO INTERNACIONAL Statement of Cash Flows for the year ended 30 September 2024 Notes 2024 2023 Operating activities Net incoming resources 437.111 169.807 Adjustments for: Interest receivable Interest payable Depreciation Increase in debtors IDecrease)lincrease in creditors (4.573) 70.945 2.680 (90) 33,046 3,399 (1,000) 1,036,414 1,241.576 {31,599) 474.564 Interest received Interest paid 4.573 (70.945) 90 (33,046) Cash generated by operating activities 408,192 1,208,620 Investing activities Payments to acquire tangible fixed assets (110,720) (1,166.048) Cash used in investing activities 110.720 1,166,048 Financing activities Repayment of loans Cash generated by financing activities Net cash generated Cash generated by operating activities Cash used in investing activities Cash generated by financing activities 408.192 (110.720) 1,208,620 (1,166,048) Net cash generated 297,472 42,572 Cash and cash equivalents at 1 October Cash and cash equivalents at 30 September 605,640 903,112 563,068 605,640 Cash and cash equivalents comprise: Cash at bank Bank overdrafts 903,112 605,640 903,112 605,640 10
IGLESIA DE DIOS MINISTERIAL DE JESUCRISTO Notes to the Accounts for the year ended 30 September 2024 1 Accounting policies Basis of accounling The financial statements have been prepared in accordance wilh Accounling and Reporting by Charities-. Statement of Recommended Practice applicable lo charities preparing Iheir accounts in accordance wilh the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019, The Financial Rewrting Standard applicable in the United Kingdom and Republic of Ireland {FRS 102), and the Charits'es Act 2011. The financial statements are prepared on a going concem basis under the historical cost conventio. The financial statements are presented in sterfing which is Ihe functional currency of the charity. The significant accounting policies applied in the preparation of these financial statements are sel out below. These policies have been consistently applied to all years presented unless otherwise stated. b. Judgements and key sources of estimation uncertainty In the application of the company's accounting policies, the trustees are required to make judgements, estimates and assumptions aul the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experien and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects bolh currenl and future periods. Critical judgements The following judgements (apart from those invclving estimates) have had the most significant effect on amounts recognised in the financial statements. Impairments The trustees review fixed assets for indications of impaimient in conjunction with review of depreciation below. The charity has policies in place lo review assets on an ongoing basis. Depreciation Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives. Land and buildings Equipment Motor vehicles No depreaalion provided 1510 on written down value 25°h on written down value 11
d. Going concern These financial staternents are prepared on the going concern basis. The trustees have a reasonable expectation that the charity will continue in operational existence for the foreseeable future. The trustees have considered Ihe level of cash, current assels held and the expected level of income and expenditure for 12 months from aulhorising these financial statements and reinforce decision making wilh forecasting, making allowance for all available information. The trustees consider thal the Charity's main aclivilies are underpinned adequalely by donalions and income from charitable aclivilies. After careful consideration and evaluation of current management information and forecasls they continue to adopt the gng cOnM basis of preparation. Income Donations and other forms of voluntary income are recognised wlhin the accounts when received. Legacies are a¢uted for when notified. Income tax recoverable on gifts received is recognised in the period when the gift is received. Income received in respect of the Gathering is deferred and released at the time of the evenl. Investment assets and the income arising Investment income is trealed as income when reived. g. Fund raising These costs are an allocation of expenses incurred. h. Funds accounting Funds held by the charity are.. lal Unrestricted general fvnds - these funds can be used in accordan wth the charitsble objects at the discretion of the Irustees. Ibl Reslri¢led funds- these are the funds that can only be used for a parb"cular restricted purpose within the objects of the Charity. Restridions arise when specified by the donor vthen funds are raised for particular purposes. Pension costs The charity operates a defined contribulion pensirm stheme. Contributions payable to Ihis scheme are charged to Ihe profit and loss account to which they relate. These contributions are invested seperately from the chartls assets. Hire purchase agreements Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair value. The capital element of the flrture payments is treated as a liability and the interest is charged to the profit and loss account on the written down value method. 12
Land & Buildings Motor vehicles Equiprnent Total 2 Tangible fixed assets Cost At 1 October 2023 Additions Disposals At 30 September 2024 1,925,123 110,720 23,642 19,846 1,968,613 110,720 2,035,843 23,642 19,848 2,079,333 Depreciation At 1 October 2023 Charge for the year At 30 September 2024 16,243 1,110 17,353 13,568 1,570 15,138 29,811 2,680 32,491 Net book value At 30 September 2024 At 30 September 2023 2,035.843 1,925.123 6,289 7,399 4,710 6,280 2,046,842 1,938,802 2024 Unrestricted Restricted Funds Funds 2023 3 Collections and donations Total Collections and donations 1.219.367 1,219,637 857,935 2024 Unrestricted Restricted Funds Funds 2023 Total 4 Investment income Interest receivable 4,573 4,573 4,573 4,573 90 90 2024 Unrestricted Restricted Funds Funds 2023 Total 5 Donations Donations to other branches 18.749 18,749 13
6a Staff costs Emloyees, pensions Employerfs NIC Salaries and wages 4,719 15,295 226.081 246,095 4,719 15,295 226,081 246,095 4,790 14,025 209,592 228,407 Average number of staff during the year Average number of staff= Ministry Support stsff No individual employee had emoluments above £60,OtKJ during the year. 6b Tru5tges' and key managemenl personnel remuneralion and expenses Two trustees and key management personnel received remuneralion during the year. The total amount of remuneration r1Ved by key management personnel during the year was £80,80512023 £80,244) The trust considers its key management personnel to comprise of= John Londono Rios Julieta Duque Cuartas Chairman Operations Director 7 Prernisgs costs Repairs Building insurance Water rates Service charges Rent Light and heat 13,753 5.102 1.899 9.077 242,883 11,080 283,794 13,753 5,102 1,899 9,077 242,883 11,080 283,794 31,941 {151 296 207,939 5,504 245,665 2024 Unrestricted Restricted Funds Funds 2023 Totsl 8 Central support cost Telephone Bank charges Bibles and literature Administration expenses Accountancy Equipment expensed Loan interest Depreciation Audit fees Consultancy fees Motor expenses Stationery and printing Travel Legal and professional fees Sundry expenses 3.657 5,180 3,450 2,890 17,942 11,521 70,945 2,680 7,200 60,219 1,854 838 34,320 10,336 5,159 238,191 3,657 5,180 3,450 2,890 17,942 11,521 70,945 2,680 7,200 60,219 1,854 838 34,320 10,336 5,159 238,191 2,427 5,628 938 4,680 7,723 59,075 33,046 3,399 60,299 2,294 1,832 29,509 480 2,816 214,146 14
9 Debtors 2024 Unrestricted Restricted Funds Funds 2023 Total Other debtors - Rent deposits 27,250 27,250 27,250 27,250 27,250 27,250 10 Creditors- arnounts falling due within one year Accruals Bank loans Other creditors Pensions payable Taxation and Social Security costs 23,909 56,117 400 1,037 5,225 86,688 23,909 56,117 400 1,037 5,225 86,688 3,200 54,600 4,353 62,153 11 Credltors: amounts falling due more than one year Bank loans 926,666 926,666 926,666 926,666 982,800 982,800 12 Net Assets of the Charity's funds 2024 Resticted 2023 Unresticted Funds Funds Totsl la) Restricted funds:movements in the year Balance as at 1 October 2023 Nel incoming reSoUrS Balance as at 30 September 2024 Ib) Unrestrictgd funds:movemgnts in the ygar Balance as at 1 October 2023 Nel incoming resources Transfer from General reserve Balance as at 30 September 2024 1.446.739 437.111 1,446,739 437,111 1,276,932 169,807 1,883.850 1,883,850 1,446,739 I c) Unrestricted Freehold reserve Balance as at 1 October 2023 Transfer from General reserve Balance as at 30 September 2024 80,000 80,000 80,000 80,000 80,000 80,000 TOTAL FUNDS AT 30 SEPTEMBER 2024 1,963,850 1,963,850 1,526,739 13 Taxation The charity is exempt from payment of corporation and income tax as it is a registered charity. 14 Charlty status The charity is registered with The Charity Commission. 15
15 Cash and cash equivalents 2024 Resticted Funds 2023 Unreslicled Funds Totsl Cash and cash equivalents comprise the following: Cash at bank and in hand 903,112 3,112 605,640 16 Pensions and other post-rgtirgment benefits The Charity operates a defined contribution pensi( plan for its employees. The amount recognised as an expense in the period was £4,71912023 £4,7901- Where required pension costs are allocate(l on the same basis as staff costs for the purpose of allocation between restricted and unrestricted fvnds. 16
IGLESAIA DE DIOS 2024 ACCOUNTS
Final Audit Report 2025-03-14
Created: 2025-03-14 By: Paul Poli (paul@gcforest.co.uk) Status: Signed Transaction ID: CBJCHBCAABAAOjGVZMywZsZXyXTPKOrWBFZaxm-FqGYA
"IGLESAIA DE DIOS 2024 ACCOUNTS" History
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