**Charity number: 1135299**
# **ZION OF THE HOLY ONE OF ISRAEL MINISTRIES**
# **TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 June 2024**
**ZION OF THE HOLY ONE OF ISRAEL MINISTRIES Report and Accounts for the period ended 30 June 2024**
**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 2024**
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 2024 The trustees confirm that the annual reports complies with the statutory requirements of the charities Act 2011 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 £10.90 an hour, the volunteer effort amounts to over £16,356
## **Achievements and performance**
## **a. REVIEW OF ACTIVITIES**
We have organised 2 gospel concerts this year. This has helped our community to get together all over the UK and some people coming from abroad. Our English service has grown we have a lot of youths attending and the feedback has been great.
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.
We have added 2 mid-week prayer services,
And counselling sessions. The social media outreach is touching thousands of peoples who 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.
We now have a youth service every Sunday morning from 10am to 12pm. With high number of participants, where our youths are taught Biblical Christian living, we have a team of youth workers who are supporting the youth in writing their CV and help to choose the right career paths and to get into work. We also have a media team which gives the youths who are Interested in social media an opportunity to learn how to film and photography, we use all these picture and images on our social media platforms. We have also started zoom biblical studies for our youths. Our French church service is also continuing.
This year we focused on bringing our community together, we organised two gospel concerts during the summers of 2023 and 2024, featuring a renowned African artist musicians from various churches also performed, and the two events were highly successful because they really impacted the wellbeing and mental health. This time, we secured a much larger venue.
Tragically, we experienced the loss of three members of our congregation. We supported their families by covering funeral expenses.
In April 2024, we celebrated the 20th anniversary of our church with a grand event. We rented a party hall, hired decorators, and arranged catering. Special guests and members from our Zion branches in Angola, Ireland, and France attended, with all their hotel, transportation, and meal costs covered by the church.
## **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.
Page 3
## **Review of Transactions and Financial Position**
During the period, income of £226,042 (2023: £165,697) 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 £14,052 (2023: deficit of £128).
The value of the Zion Of the Holy One of Israel net assets at 30th June 2024 was a Surplus of £37,918 (2023: Surplus of £51,970).
## **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**
## 24. **FUTURE DEVELOPMENTS**
The church continues to explore various ways of spreading the gospel of Christ in an effective manner. The charity
Has grown in membership and continue to develop its members to make life- changing impact in society and day to day life.
activities including mid-week services youth events, women’s meetings where we offer first aid courses to everyone, we teach women how to become great role models. We also offer cooking classes. We have choir practice and instrumental classes also taking place at the church.
In the future we would like to organise conferences with guest speakers to motivate and encourage. We would also like to organise Outings and trips for the youths and the elderly.
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: 18/10/2024
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 2024 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** : 21/10/2024
**Signature:**
**Name:** Holy Accounting Solutions ~~oO~~ **Address:** 24 Portia Way London E3 4JH ~~OOO~~
Page 6
## **ZION OF THE HOLY ONE OF ISRAEL MINISTRIES Statement of Financial Activities for the year ended 30 June 2024**
|||||||2024
2023|
|---|---|---|---|---|---|---|
|||||||Unrestricted
Restricted
Total
Total|
||||||Note|£
£
£
£|
|Incoming Resources|||||||
||||||||
|Incoming resources from generated
funds:
Voluntary income: donations|||||2|226,042
-
226,042
165,697|
|Rental Income||||||3,110
-
3,110
3,840|
||||||||
||||||||
|Total incoming Resources||||||229,152
-
229,152
169,537|
||||||||
|Resources Expended|||||||
|Charitable activities|||||3|22,289
213,405
235,694
163,433|
|Governance Costs|||||4|7,510
-
7,510
6,232|
||||||||
|Total Resources expenditure||||||29,799
213,405
243,204
169,664|
||||||||
||||||||
|Net income / (Outgoing) Resources for the year||||||199,353
-
(213,405)
(14,052)
(128)|
||||||||
|Total funds brought forward 01 July 2023||||||(198,030)
250,000
51,970
52,098|
||||||||
||||||||
|Total funds carried forward|||30 June 2024||6|1,323
36,595
37,918
51,970|
||||||||
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 2024**
|**ZION OF THE HOLY ONE OF ISRAEL MINISTRIES**
**Balance sheet as at 30 June 2024**|||
|---|---|---|
||**2024**|**2023**|
|Note
£|£
£|£|
|Fixed assets:|||
|Tangible assets
7|19,543|23,833|
||||
||||
||19,543|23,833|
|CURRENT ASSETS|||
|Debtors
8
47,300|47,300||
|Cash at bank and in hand
2,414|1,124||
|49,714|48,424||
|CREDITORS:|||
|Creditors: amounts falling due within one year
9
(31,339)|(20,287)||
||||
||||
|NET CURRENT ASSETS|18,375|28,137|
||||
||||
|TOTAL ASSETS LESS CURRENT LIABILITIES|37,918|51,970|
||||
|Creditors: amounts falling due after one year|-|-|
||||
||||
|Net assets excluding pension asset / (liability)|37.918|51,970|
||||
|ACCUMULATED FUNDS
10|||
||||
|Restricted income funds|36,595|250,000|
|Unrestricted income funds:|||
|General funds
1,323|(198,030)||
||||
||||
|Total unrestricted funds|1,323|(198,030)|
||-|-|
||||
|Total charity funds
10.1|37,918|51,970|
||||
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: 18/10/2024
Page 9
## **ZION OF THE HOLY ONE OF ISRAEL MINISTRIES Notes to the financial statements for the period ended 30 June 2024**
## **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.
2 Voluntary Income: Donations and other
|||||||2024
£
192,567
33,475
3,110|2024
£
192,567
33,475
3,110|2023|
|---|---|---|---|---|---|---|---|---|
||||||||||
|||||£
192,567
33,475
3,110||||£|
|||||||||129,144|
||||Tithes & Offering||||||
|||||||||36,553|
||||Gift Aid (Accumulated)||||||
|||||||||3,840|
||||Rental income||||||
||||||||||
||||||||||
||||Total
income
from|229,152||229,152||169,537|
||||charitable activities||||||
||||||||||
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
General charitable expenditure
Volunteer Expenses
Youth expenses
Musician expenses
Travelling Expenses
Gift and donations
Honourarium- Guest Ministers
Total expenditure 2023|2024 Total
£
85,033
-
**`43,174`**
16,356
5,000
8,531
4,210
51,707
24,903
238,914|2023 Total
£
65,632
8,092
15,764
-
`17,169`
`2,700`
`37,625`
`16,450`|
|---|---|---|
|||163,433|
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||**2024**
£
3,220
**2023**
£
1,000
4,290
5,232
**7,510**
**6,232**
**2024**
**£**
**2023**
**£**
4,290
5,232
3,220
3,220|**2023**
£
1,000
5,232|
|---|---|---|---|
||||
**6,232**|
|||**7,510**
**6,232**||
## **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 2023
Surplus/(Deficit) for the year
At 30 June 2024
**7. FIXED ASSETS**
**COST**
At 01 July
2023
**Add:**
**Additions**
**Depreciation**
As at 01 July
2023
Charge for the
year
**At 30 June**
**2024**
**Net book**
**value**
**At 30 June 2024**
**At 30 June 2023**|18% reducing balance
**Unrestricted**
**Funds**
**£**
**Restricted**
**Funds**
**£**
**Total**
**Funds**
**2024**
**£**
**Total**
**Funds**
**2023**
**£**
(198,030)
250,000
51,970
52,098
199,353
(213,,405)
(14,052)
(128)|
|---|---|
||1,323
36,595
37,918
51,970|
||**Musical Instrument**
**Total**
£
£
53,682
53,682
-
-
53,682
53,682
29,849
29,849
4,290
4,290
**34,139**
**34,139**
**19,543**
**19,543**
**23,833**
**23,833**|
Page 12
||**2024**|**2023**|
|---|---|---|
|**8. DEBTORS**|**£**|**£**|
|Rent Deposit|47,300|47,300|
|**9. CREDITORS:AMOUNTS FALLING DUE WITHIN ONE YEAR**|||
||**2024**|**2023**|
||**£**|**£**|
|Professional fees|1,100|1,000|
|Trade creditors|30,239|19287|
## **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