## **ZION WAY MINISTRIES INTERNATIONAL**
## **FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 28[TH] FEBRUARY 2022**
**CHARITY NUMBER: 1151391**
## **ZION WAY MINISTRIES INTERNATIONAL 38 FAKENHAM STREET BICESTER OXFORDSHIRE OX26 1DZ**
**INDEX Page Index 1 Trustee’s Report 2-3 Independent Examiner’s Report 4 Receipts and Payments Account 5 Statement of Assets and Liabilities 6 Notes on the financial Statements 7**
**1**
## **ZION WAY MINISTRIES INTERNATIONAL**
# **TRUSTEES’ REPORT YEAR ENDED 28[TH] FEBRUARY 2022**
The trustees are pleased to present their report for the year ended 28[th] February 2022 for the charity, Zion Way Ministries International with charity number 1151391.
The Trustees of the charity are: Rev Emmanuel Obeng Mr Koby Appiah-Sakyi Mrs Lyda Koranteng Miss Kulwant Dhadda
The principal address of the charity is : 38 Fakenham Street Bicester, Oxfordshire OX26 1DZ
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
The Charity governing document is a declaration of trust that was executed 18[th] March 2012.The Charity is governed by a board on which the trustees are represented. It meets regularly to review, plan activities and monitor the financial position.
## **OBJECTIVES AND ACTIVITIES**
The Objects of the organisation are first to advance the Christian faith in accordance with the statement of beliefs for the benefit in the United Kingdom and in such other parts of the world as the trustees may think fit from time to time . The trustees confirm that they have had due regard to the guidance issued by the Charity Commission on public benefit before deciding what activities the charity should undertake.
## **ACHIEVMENTS AND PERFORMANCE**
The Organisation continued to hold successful worship services through the year in which individuals were equipped and educated on the principles and doctrines of the Christian faith. The organisation held several conferences during the year in which individuals came from all around the community to attend. The church supported the work of its branch church in Ghana and missions trip overseas. The church donated resources to other charities in the UK that share similar objectives that they do, as a way of demonstrating support for other charitable work in the United Kingdom.
**2**
## **FINANCIAL REVIEW**
The income of the charity is above £36,000. The organisation is still in a good position to manage its costs. The main cost of the organisation was paying for the rent of its building that it uses for worship services, training volunteers and supporting charity work in the United Kingdom and overseas.
## **FUTURE DEVELOPMENTS**
The church intends to continue to host its regular yearly conferences in UK. They will continue to financially support their sister church in Ghana as they are able. The intended re-appointment of our present independent examiner at the upcoming trustee meeting is expected to support the financial operations by making it more effective
## **RESERVE POLICY**
It is the policy of the Charity to maintain unrestricted funds, which are the reserves of the charity at about 3 months of unrestricted expenditure. This provides sufficient funds to cover any emergency expenditures that may arise from time to time. The charity will seek to maintain this level throughout the year.
## **RISK MANAGEMENT**
The charity have assessed all the major risks to which the charity is exposed to, in particular those related to operations and finances of the charity, and are satisfied that systems are in place to mitigate exposure to major risks.
## **TRUSTEE RESPONSIBILITIES**
Under the Charities Act 2011, the trustees are required to prepare a statement of accounts for each accounting year which gives a true and fair view of the state of the church. They are required to:
1. Select suitable accounting policies and apply them consistently.
2. Make judgements and estimates that are reasonable and prudent.
3. State whether the applicable accounting standards have been followed. 4. Prepare financial statements on an ongoing basis.
They are responsible for keeping proper records which disclose with reasonable accuracy the finances of the church at any time and to ensure that such accounts comply with the Charities Act 2011.They also have a responsibility to safeguard the assets of the church and to take reasonable steps to detect fraud or other irregularities.
Approved by the Trustees on 31[st] May 2022 and signed on their behalf by:
_____________________________________________
**3**
Independent Examiner’s Report To the Trustees
## **ZION WAY MINISTRIES INTERNATIONAL**
I report on the accounts of the church for the year ended 28[th] February 2022 set out on the following pages which have been prepared on the basis of the accounting policies shown in the corresponding pages.
## **Respective responsibilities of trustees and examiner**
The trustees of the church are responsible for the preparation of accounts: they consider that the audit requirement under section 144(2) of the Charities Act 2011 (the 2011 Act),does not apply. It is my responsibility to :
- Examine the accounts under section 145 of the 2011 Act.
- Follow the procedures laid down in the General Directions given by the Charity Commissioners made under section 145(5)(b) of the 2011 Act.
- State whether particular matters have come to my attention.
## **Basis of Independent examiner’s report**
My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the church and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts.
## **Independent examiner’s statement**
In the course of my examination, no matter has come to my attention;
- (1) which gives me reasonable cause to believe that, in any material aspect, the trustees have not met the requirements to ensure that:
- proper accounting records are kept( in accordance with section 130 of the 2011 Act
- accounts are prepared which agree with the accounting records and comply
- with the accounting requirements of the 2011 Act: or
- (2) to which , in my opinion , attention should be drawn in order to enable a proper understanding of the accounts to be reached.
CHUKS AJUKA BSc(Man), FICB PMDip FRESH FIRE ORGANISATION 95 Miles road Mitcham Surrey CR4 3FH
**4**
## **ZION WAY MINISTRIES INTERNATIONAL**
## **ACCOUNTS FOR THE YEAR ENDED 28th February 2022**
## **1 Receipts & Payments Account (General Purpose Fund)**
|**Income Receipts**
Tithes and Offerings
Gift Aid repayments
**Total Receipts**
**Direct Chaitable Expenditure**
Supplies
Insurance
Hire of Hall
Admin
Equipment
Salary
Stationary & Books
Media services
Software
Benevolent giving
Bookkeeping services
Telephone & Internet
Repairs
Charitable giving
Conference costs
Web hosting
Subscriptions
Missions
Training
Welfare
Hospitality
Fixtures & Fittings
Speakers expenses
**Total Payments**
**Net Receipts/(Payments) for the year**
**Loan out**
**Cash Funds at start of year**
**Cash Funds at the end of the year**|**£**
£
**2022**
**2021**
32190
24866
4311|
|---|---|
||**36501**
**24866**|
||0
0
356
320
1256
234
3500
0
1784
3147
8112
8113
297
0
144
0
228
840
270
300
1113
540
660
95
50
0
141
0
4399
0
0
0
390
320
1699
2500
450
0
1935
1390
411
0
300
0
513
1600|
||**28008**
19399
8493
5467
**-4600**
**21293**
15826|
||**25186**
21293|
**5**
## **ZION WAY MINISTRIES INTERNATIONAL**
## **2 Statements of Assets and Liabilities at 28th February 2022**
|**Cash Funds**
Bank
**Total Cash Funds**
**Assets Retained for the**
**Charity's Own use**
Instruments
Equipment
Fixtures & fittings
**Liabilities**
Accounting fee|**Unrestricted Funds**
**2022**
**2021**
**£**
**£**
25186
21293|
|---|---|
||25186
21293|
||1517
1896
3619
2740
342
128|
||5478
4764
372
360|
Approved by the Trustees and signed on their behalf:
______________________________________________________
**6**
**ZION WAY MINISTRIES INTERNATIONAL**
**NOTES TO THE FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 28th February 2022**
## **ACCOUNTING POLICIES**
## **Basis of Accounting**
These accounts have been prepared on the receipts and payments basis under the Charities Act 2011.
## **Funds**
Unrestricted funds are those which can be used at the Trustees' discretion. Restricted Funds are those whose purposes have been restricted by the donor.
## **Trustee Remuneration**
The charity paid Pastor Emmanuel Obeng £8112 during the year for services rendered to the tion as a Pastor. All other work was carried out by the volunteers.
The charity had 1 employee that was paid through the PAYE system. No employee earned more than £10,000 in the financial year.
## **Depreciation**
Depreciation is calculated at 20% reducing balance method.
## **Trustees and Related Parties transactions**
Trustee Rev Emmanuel Obeng received £8112 for services rendered as Pastor of the church
**7**