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2024-05-31-accounts

Registered Charity Number :- 1117663

SOZO HOUSE OF PRAISE a Charitable Incorporated Organisation

TRUSTEES’ REPORT AND

FINANCIAL STATEMENTS

FOR THE YEAR END 31 May 2024

First Floor 14-16 Powis Street Woolwich London

SOZO HOUSE OF PRAISE

CONTENTS

FOR THE YEAR ENDED 31 May 2024

TRUSTEES' REPORT ....................................................................................................................................................... 3 INDEPENDENT EXAMINER'S REPORT ....................................................................................................................... 5 STATEMENT OF FINANCIAL ACTIVITIES ................................................................................................................ 7 BALANCE SHEET ........................................................................................................................................................... 8 NOTES TO THE FINANCIAL STATEMENTS .............................................................................................................. 9

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SOZO HOUSE OF PRAISE

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 May 2024

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 May 2023. The trustees have adopted the provisions of 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 (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

To advance the Christian Faith through Evangelism and Ministry in accordance with the Statement of Faith set out int

schedule to the Memorandum of Association.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by

guarantee, as defined by the Companies Act 2006.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

05876797 (England and Wales)

Registered Charity number

1117663

Registered office

First Floor 14-16 Powis Street Woolwich London SE18 6LF

Trustees

MISS K CAMPBELL MR N CARASCO MRS Y PARKER

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SOZO HOUSE OF PRAISE

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 May 2024

Company Secretary MRS V A BLAKE

Independent Examiner

Abudey & Company First Floor 14-16 Powis Street Woolwich London SE18 6LF

Director

Bishop Dr Omroy V. Miller

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by order of the board of trustees on ............................................. and signed on its behalf by: N CARASCO - Trustee

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SOZO HOUSE OF PRAISE

INDEPENDENT EXAMINER'S REPORT

FOR THE YEAR ENDED 31 May 2024

Independent examiner's report to the trustees of SOZO HOUSE OF PRAISE ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 May 2023.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act

and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or

  2. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act 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; or

  1. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts

in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

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 Symon L Abudey FAIA Abudey & Company First Floor 14-16 Powis Street Woolwich London SE18 6LF

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SOZO HOUSE OF PRAISE

INDEPENDENT EXAMINER'S REPORT

FOR THE YEAR ENDED 31 May 2024

Date: ............................................. Page

6

SOZO HOUSE OF PRAISE

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 May 2024

Recommended categories by
activity
Notes
Income and endowments
from:
Donations and legacies
2
Investments
3
Total
Expenditure on:
Raising funds
4
Charitable activities
5
Other
7
Total
Net income/(expenditure)
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 Unrestricted funds
£
Total Funds 2024
£
Total Funds 2023
£
49,275
49,275
37,126
181
181
180
49,456
49,456
37,306
32,744
32,744
27,471
11,317
11,317
11,317
391
391
458
44,452
44,452
39,246
5,004
5,004
(1,940)
5,004
5,004
(1,940)
23,133
23,133
25,073
28,137
28,137
23,133

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SOZO HOUSE OF PRAISE

BALANCE SHEET

FOR THE YEAR ENDED 31 May 2024

Recommended categories by
activity
Notes
Fixed assets
Tangible assets
8
Total fixed assets
Current assets
Cash at bank and in hand
9
Total current assets
Creditors: amounts falling due
within one year
10
Net current
assets/(liabilities)
Total net assets or liabilities
Funds of the Charity
Unrestricted funds
11
Restricted income funds
11
Endowment funds
11
Total funds		 Unrestricted funds
£
Total Funds 2024
£
Total Funds 2023
£
1,475
1,475
1,770
1,475
1,475
1,770
28,981
28,981
24,437
28,981
28,981
24,437
2,317
2,317
3,074
26,664
26,664
21,363
28,139
28,139
23,133
28,137
28,137
23,133
-
-
-
-
28,137
28,137
23,133

The financial statements were approved by the Board on 14-Mar-2025 and signed on its behalf by:

N CARASCO

Trustee

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SOZO HOUSE OF PRAISE

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 May 2024

1 Accounting Policies

1.1 Accounting Policies

The principal accounting policies adopted by the Charity, which is a public benefit entity, in the preparation of the accounts are as follows.

1.2 Basis of preparation

These accounts have been prepared under the historical cost convention, as modified by the inclusion of charitable properties and fixed asset investments and investment properties at valuation.

These accounts 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 (FRS 102)” (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

These accounts are presented in pounds sterling and rounded to the nearest pound.

1.3 Going concern

The Trustees have prepared financial projections, taking into consideration the current economic conditions and have, at the time of approving these accounts, a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the accounts.

2 Income from Donations and Legacies

Analysis
HMRC -
Gift aid
Sundry
Income &
Donations
Tithes and
Offering		 Unrestricted
funds
£
6,155
1,082
42,038
49,275		 Total
funds 2024
£
6,155
1,082
42,038
49,275		 Total
funds 2023
£
4,466
991
31,669
37,126

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SOZO HOUSE OF PRAISE

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 May 2024

3 Income from Investments

Analysis
Interest		 Unrestricted
funds
£
181
181		 Total
funds 2024
£
181
181		 Total
funds 2023
£
180
180

4 Expenditure on Raising Funds

Analysis
Total funds
2024
£
Sanctuary
Rental and
Expenses
7,962
Telephone
and internet
403
Printing
postage &
stationery
-
Gen. church
running
expenses
6,491
Storage and
removals
3,132
Motor travel
and transport
4,556
Stipend and
Expenses
1,200
Support
Costs
9,000
32,744		 Total funds
2023
£
7,341
371
259
4,521
2,605
2,174
1,200
9,000
27,471

5 Expenditure on Charitable Activities

Total funds 2024 Total funds 2023

Analysis
Support Costs		 £
11,317
11,317		 £
11,317
11,317

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SOZO HOUSE OF PRAISE

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 May 2024

6 Support Costs

Analysis
Salary Wages
and
Allowance
Governance
Costs
Accountancy
charges		 Total funds
2024
£

18,000
2,317
20,317		 Total funds
2023
£
18,000
2,317
20,317

7 Other Expenditure

Analysis
Depreciation
Charge for
the Year -
Fixtures &
Fittings
Bank
charges &
interest
Church
Equipment -
Depreciation
Charge for
the Year		 Unrestricted
funds
£
39
96
256
391		 Total
funds 2024
£
39
96
256
391		 Total
funds 2023
£
46
92
320
458

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SOZO HOUSE OF PRAISE

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 May 2024

8 Tangible Fixed Assets

8.1 Cost or valuation

At 01 June
2023
Additions
Disposals
Revaluations
Transfers
At 31 May
2024		 Fixtures &
Fittings
Church
Equipment
£
£
2,174
4,965
-
-
-
-
-
-
-
-
2,174
4,965

8.2 Amortisation and impairments

At 01 June
2023
Additions
Disposals
Revaluations
Transfers
At 31 May
2024		 Fixtures &
Fittings
Church
Equipment
£
£
1,684
3,685
39
256
-
-
-
-
-
-
1,723
3,941

8.3 Net book value

At 01 June
2023
At 31 May
2024		 Fixtures &
Fittings
Church
Equipment
£
£
490
1,280
451
1,024

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SOZO HOUSE OF PRAISE

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 May 2024

9 Cash at bank and in hand

Bank Account
11405551
PCU 3023
PCU 4048		 Total
funds
2024
£
6,536
20,669
1,776
28,981		 Total
funds
2023
£
6,174
16,505
1,758
24,437

10 Creditors: Amounts falling due within one year

Accrued expenses Total funds 2024
£
2,317
2,317		 Total funds 2023
£
3,074
3,074

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SOZO HOUSE OF PRAISE

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 May 2024

11 Charity funds

11.1 Details of material funds held and movements during the CURRENT reporting period

Fund names
Fund
balances
brought
forward		 Income Expenditure Transfers Gains
and
losses		 Fund
balances
carried
forward
£ £ £ £ £ £
Unrestricted funds
General Fund
-		 49,457 (44,452) - - 5,005
23,133 - - - - 23,133
Total
23,133		 49,457 (44,452) - - 28,138
11.2 Details of material funds held and movements during the PREVIOUS reporting period
Fund names
Fund
balances
brought
forward		 Income Expenditure Transfers Gains
and
losses		 Fund
balances
carried
forward
£ £ £ £ £ £
Unrestricted funds
25,073 37,306 (39,246) - - 23,133
Total
25,073		 37,306 (39,246) - - 23,133

11.3 Transfers between funds This Year

Amount
£
Between unrestricted and restricted funds -
Between endowment and restricted funds -
Between endowment and unrestricted funds -
Last Year
Amount
£
Between unrestricted and restricted funds -
Between endowment and restricted funds -
Between endowment and unrestricted funds -

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