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 2 **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 3 ## **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 4 **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 3. 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 4. 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 5 ## **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**| 7 **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 8 **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| 9 ## **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| |---|---|---| 10 **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| 11 **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| 12 ## **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| 13 **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||-| 14