Charity number: 1135299
ZION OF THE HOLY ONE OF ISRAEL MINISTRIES
TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 June 2021
ZION OF THE HOLY ONE OF ISRAEL MINISTRIES Report and Accounts for the period ended 30 June 2021
CHARITY REGISTRATION NUMBER IN ENGLAND AND WALES 1135299
ZION OF THE HOLY ONE OF ISRAEL MINISTRIES
Reports and Accounts
| CONTENTS | |
|---|---|
| Charity Information | 1 |
| Trustees annual report | 2-5 |
| Accountant's Report | 6 |
| Statement of Financial Activities | 7 |
| Balance Sheet | 8-9 |
| Notes to Accounts | 10-13 |
ZION OF THE HOLY ONE OF ISRAEL MINISTRIES Charity Information
Pastor in Charge
Rev. Paul Nkosi
Trustees
Christina Domingos Canga Sanga Bongongo Mrs Sumu Pembele Yaghein
Charity Registration No:
1135299
Place of worship
100 Vale London N4 0PT
Bankers
Barclays PLC Bank 552-558 High Road London N17 0EY
Accountants
Holy Accounting Solutions Ltd 24 Portia Way London E3 4JH
Page 1
ZION OF THE HOLY ONE OF ISRAEL MINISTRIES
TRUSTEES' REPORT FOR THE YEAR ENDED 30 June 2021
The trustees have the pleasure of presenting their annual report and financial statement of Zion Of The Holy One Of Israel Ministries for the year ended 30 June 2021 The trustees confirm that the annual reports complies with the statutory requirements of the charities Act 2012 and, the church's governing document and the provisions of the statement of recommended Practice (SORP) issued in April 2005
Structure, governance and management
a. CONSTITUTION
The church is constituted under a Trust deed dated 29 July 2008 and has a registered charity no 1135299
b. METHOD OF APPOINTMENT OR ELECTION OF TRUSTEES
The management of the church is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.
c. POLICIES ADOPTED FOR THE INDUCTION AND TRAINING OF TRUSTEES
The induction process for a newly appointed member of the Trustees comprises an initial meeting with other Trustees, followed by a series of short meetings with the Minister in Charge on the powers and responsibilities of the Trustees.
d. ORGANISATIONAL STRUCTURE AND DECISION MAKING
The church is organised so that the trustees meet regularly to manage its affairs. The day to day administration of the church is managed by the trustees.
e. RISK MANAGEMENT
The Trustees have assessed the major risks to which the church is exposed, in particular those related to the operations and finances of the charity, and are satisfied that systems are in place to mitigate our exposure to the major risks.
Objectives and Activities
a. POLICIES AND OBJECTIVES
The objects of the Charity are:
-
The advancement of the Christian faith worldwide; and
-
The relief of poverty
b. STRATEGIES FOR ACHIEVING OBJECTIVES
The church has adopted the following strategies for achieving the above objectives:
- organising seminars and conferences in the church with proven speakers and ministers of the faith to guide members in the various aspects of the Christian faith; and
*support for other charities and Christian events.
C. ACTIVITIES FOR ACHIEVING OBJECTIVES
*Community Outreach Events
*Provision of welfare support to members
Page 2
c. VOLUNTEERS
The church is grateful for the efforts of its volunteers who are involved in service provision, it is estimated that over 1,500 volunteer hours were provided during the year. If this is conservatively valued at £8.80 an hour the volunteer effort amounts to over £13,219
Achievements and performance
a. REVIEW OF ACTIVITIES
We have had tremendous growth in the physical and spiritual life of the church during the year and in the advancement of the Christian Faith in accordance with the doctrines set out in the Statement of Faith as contained in our Trust Deed.
The social media outreach is touching thousands of peoples live here in the UK and Europe, the feedback from many audiences that contacted us through letters, emails, and phone calls testify of the impact that these programmes on their day to day lives.
The youth conference held during the year recorded high number of participants, where our youths are taught Biblical Christian living, career paths, Christian marriage etc.
French church service is attracting more French speaking parishioners who are not fluent in English language
b. INVESTMENT POLICY AND PERFORMANCE
The Trustees have decided that at present, funds should be retained in Banks and Building Societies. Any change in such banking arrangements should be agreed by the board. As far as possible, funds will be retained in interest bearing accounts.
Review of Transactions and Financial Position
During the period, income of £87,838 (2020: £13,663) was received as voluntary donations and gift aid repayment.
The net movement in funds for the period, as shown in the statement of financial activities, for the unrestricted funds was deficit of £98,025 (2020: deficit of £72,894).
The value of the Zion Of the Holy One of Israel net assets at 30th June 2021 was a Surplus of £56,175 (2020: a Surplus of £154,200).
a. RESERVES
POLICY Reserves
Policy
The trustees would like to work towards a situation whereby the charity could maintain unrestricted funds at a level which equates to approximately three months of unrestricted expenditure.
b. PRINCIPAL FUNDING
This is provided mainly through voluntary giving of tithes and offerings by the church members and through gift aid scheme. Pledges and donations are also taken for specific projects.
Plans for the future
Page 3
a. FUTURE DEVELOPMENTS
The church continues to explore various ways of spreading the gospel of Christ in an effective manner. The charity
is also looking to grow in membership and continue to develop its members to make life- changing impact in society.
The Church plan to acquire a building in the near future, where Church activities including services and seminars will be conducted.
Page 4
Trustees' Responsibilities in Relation to the Financial Statements
Law applicable to charities in England and Wales requires the trustees to prepare financial statement for each financial year which gives a true and fair view of the state of affairs of the charity and of surplus or deficit for the period. In preparing the financial statements the trustees have:
-Selected suitable accounting policies and applied them consistently; -Made judgments and estimates that are reasonable and prudent; -Stated whether applicable accounting standards have been followed -Prepared the financial statements on a going concern basis
The Trustees have overall responsibility of ensuring that the church has an appropriate system of controls; financial or otherwise. They are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the church, and to enable them to ensure that
the financial statements comply with the Charities Act 2012 and (Charities, Accounts and Report) the 2008 regulation requirements. They are responsible for safeguarding the assets of the Charity and hence take reasonable steps for the detection and prevention of fraud and other irregularities.
Approval
This report was approved by the Board of Trustees and signed on their behalf by:
Signature:
Name: C h r i s t i n a C a n g a
Date: 30.03.2022
Page 5
ZION OF THE HOLY ONE OF ISRAEL MINISTRIES
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ZION OF THE HOLY ONE OF ISRAEL MINISTRIES
I report on the accounts of the Charity for the period ended 30 June 2021 which are set out on pages 7 to13.
As the charity’s trustees of the Company (who are also the directors of the company 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 Responsibilities and basis 2006 Act”). of report Having satisfied myself that the accounts of the Company are not required to be audited for this year 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 I have completed my examination. I confirm that no material matters have come to statement my attention 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.
Date : 30/03/2022
| Signature: Name: Address: |
|
|---|---|
| Holy Accounting Solutions | |
| 24 Portia Way | |
| London E3 4JH |
Page 6
ZION OF THE HOLY ONE OF ISRAEL MINISTRIES Statement of Financial Activities for the year ended 30 June 2021
| 2021 2020 |
||||||
|---|---|---|---|---|---|---|
| Unrestricted Restricted Total Total |
||||||
| Note | £ £ £ £ |
|||||
| Incoming Resources | ||||||
| Incoming resources from generated funds: Voluntary income: donations |
2 | 87,838 - 87,838 13,663 |
||||
| Rental Income | 13,270 - 13,270 - |
|||||
| Total incoming Resources | 101,108 - 101,108 13,663 |
|||||
| Resources Expended | ||||||
| Charitable activities | 3 | 191,997 - 191,997 83,619 |
||||
| Governance Costs | 4 | 7,136 - 7,136 2,938 |
||||
| Total Resources expenditure | 199,133 - 199,133 86,557 |
|||||
| Net income / (Outgoing) Resources for the year | (98,025) - (98,025) (72,894) |
|||||
| Total funds brought forward 01 July 2020 | (95,800) 250,000 154,200 227,094 |
|||||
| Total funds carried forward | 30 June 2021 | 6 | (193,825) 250,000 56,175 154,200 |
|||
All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above.
Page 7
ZION OF THE HOLY ONE OF ISRAEL MINISTRIES
Balance sheet as at 30 June 2021
| ZION OF THE HOLY ONE OF ISRAEL MINISTRIES Balance sheet as at 30 June 2021 |
||
|---|---|---|
| 2021 | 2020 | |
| Note £ |
£ £ |
£ |
| Fixed assets: | ||
| Tangible assets 7 |
27,951 | 8,828 |
| 27,951 | 8,828 | |
| CURRENT ASSETS | ||
| Debtors 8 47,300 |
47,300 | |
| Cash at bank and in hand 7,687 |
125,663 | |
| 54,987 | 172,963 | |
| CREDITORS: | ||
| Creditors: amounts falling due within one year 9 (26,763) |
(27,591) | |
| NET CURRENT ASSETS | 28,224 | 145,372 |
| TOTAL ASSETS LESS CURRENT LIABILITIES | 56,175 | 154,200 |
| Creditors: amounts falling due after one year | ||
| Net assets excluding pension asset / (liability) | 56,175 | 154,200 |
| ACCUMULATED FUNDS 10 |
||
| Restricted income funds | 250,000 | 250,000 |
| Unrestricted income funds: | ||
| General funds (193,825) |
(95,800) | |
| Total unrestricted funds | (193,825) | (95,800) |
| - | - | |
| Total charity funds 10.1 |
56,175 | 154,200 |
Page 8
Approved by the Trustees and Signed on their behalf:
Signature:
Name: C h r i s t i n a C a n g a
Date: 30.03.2022
Page 9
ZION OF THE HOLY ONE OF ISRAEL MINISTRIES Notes to the financial statements for the period ended 30 June 2021
ACCOUNTING POLICIES
1.1 Basis of preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for smaller Entities (effective January 2007).The financial statements have been prepared in accordance with the Statement of Recommended Practice (SORP), "Accounting and Reporting by Charities" published in March 2005 and applicable accounting standards.
1.2 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Church and which have not been designated for other purposes
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors which have been raised by the Church for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the accounts.
1.3 Incoming resources
These are recognised in full in the Statement of Financial Activities in the period in which they are received Included are income from tithes, offerings, gift aid and interest received during the year from investments and accounted for as restricted or unrestricted funds.
| accounted for as restricted or unrestricted funds. | accounted for as restricted or unrestricted funds. | accounted for as restricted or unrestricted funds. | accounted for as restricted or unrestricted funds. | accounted for as restricted or unrestricted funds. | |
|---|---|---|---|---|---|
| 2 Voluntary Income: Donations and other |
|||||
| 2021 £ 87,838 13,270 |
2020 | ||||
| £ 87,838 13,270 |
£ | ||||
| Tithes & Offering | 13,663 | ||||
| Rental income | |||||
| Total income from charitable activities |
101,108 | 101,108 | 13,663 | ||
Page 10
3. CHARITABLE ACTIVITIES- (Direct charitable expenditure Unrestricted)
This comprises all expenditure directly related to the objects of the of the charity. It also includes the expenditure in support of that activity where material.
| Rent & Rates Hall refurbishment and equipment Volunteer Expenses Magazines, printing, postage & stationeries Charitable activities Honourarium- Guest Ministers |
Rent & Rates Hall refurbishment and equipment Volunteer Expenses Magazines, printing, postage & stationeries Charitable activities Honourarium- Guest Ministers |
Rent & Rates Hall refurbishment and equipment Volunteer Expenses Magazines, printing, postage & stationeries Charitable activities Honourarium- Guest Ministers |
Rent & Rates Hall refurbishment and equipment Volunteer Expenses Magazines, printing, postage & stationeries Charitable activities Honourarium- Guest Ministers |
2021 2020 £ £ 45000 44000 50729 - 13219 14040 - 429 53,666 - 29,384 25,150 |
2021 2020 £ £ 45000 44000 50729 - 13219 14040 - 429 53,666 - 29,384 25,150 |
|---|---|---|---|---|---|
| Total expenditure 2021 | 191,997 83,619 |
Page 11
4. GOVERNANCE COSTS
| Legal & professional fees Depreciation 4.1 NET MOVEMENT IN FUNDS FOR THE YEAR The net movement in funds for the year is stated after charging Depreciation of tangible fixed assets Legal & Professional fees |
2021 £ 1,000 6,136 7,136 2021 £ 6,136 1,000 |
2020 £ 1,000 1,938 2,938 2020 £ 1,938 1,000 |
||
|---|---|---|---|---|
| 7,136 | 2,938 |
5.DEPRECIATION
Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
| Music equipment 6. FUNDS At 1 July 2020 Surplus/(Deficit) for the year At 30 June 2021 |
18% reducing balance Unrestricted Funds £ Restricted Funds £ Total Funds 2021 £ Total Funds 2020 £ (95,800) 250,000 154,200 227,094 (98,025) - (98,025) (72.894) (193,825) 250,000 56,175 154,200 |
|---|---|
7. FIXED ASSETS
| 7. FIXED ASSETS | |
|---|---|
| COST At 01 July 2020 Add: Additions Depreciation As at 01 July 2020 Charge for the year At 30 June 2021 Net book value At 30 June 2021 At 30 June 2020 |
Musical Instrument Total £ £ 22,278 22,278 25,259 25,259 |
| 47,537 47,537 13,450 13,450 6,136 6,136 |
|
| 19,586 19,586 27,951 27,951 |
|
| 8,828 8,828 |
Page 12
| 2021 | 2020 | |
|---|---|---|
| 8. DEBTORS | £ | £ |
| Rent Deposit | 47,300 | 47,300 |
| 9. CREDITORS:AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
| 2021 | 2020 | |
| £ | £ | |
| Professional fees | 1,000 | 2,700 |
| Trade creditors | 25,763 | 24,891 |
10. UNRESTRICTED FUNDS
These are grants and donations received or receivable for the objects of the charity without restrictions as to purpose but are available as general funds.
10.1 RESTRICTED FUNDS
Restricted funds are used for the purpose as specified by the donor. Expenditure that meets these criteria is identified to the fund.
Page 13