ZION WAY MINISTRIES INTERNATIONAL
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28[TH] FEBRUARY 2025
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
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ZION WAY MINISTRIES INTERNATIONAL
TRUSTEES’ REPORT YEAR ENDED 28[TH] FEBRUARY 2025
The trustees are pleased to present their report for the year ended 28[th] February 2025 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.
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FINANCIAL REVIEW
The income of the charity is above £34,000. 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:
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Select suitable accounting policies and apply them consistently.
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Make judgements and estimates that are reasonable and prudent.
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State whether the applicable accounting standards have been followed.
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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 28[th] May 2025 and signed on their behalf by:
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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 2025 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 :
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Examine the accounts under section 145 of the 2011 Act.
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Follow the procedures laid down in the General Directions given by the Charity Commissioners made under section 145(5)(b) of the 2011 Act.
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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;
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(1) which gives me reasonable cause to believe that, in any material aspect, the trustees have not met the requirements to ensure that:
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proper accounting records are kept( in accordance with section 130 of the 2011 Act
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accounts are prepared which agree with the accounting records and comply
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with the accounting requirements of the 2011 Act: or
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(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
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ZION WAY MINISTRIES INTERNATIONAL
ACCOUNTS FOR THE YEAR ENDED 28th February 2025
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 Professional fees Office expenses Conference costs Travel Subscriptions Missions Advert costs Welfare Hospitality Outreach costs Speakers expenses Total Payments Net Receipts/(Payments) for the year Loan out Cash Funds at start of year Loan repaid Cash Funds at the end of the year |
£ £ 2025 2024 29987 31281 4977 8876 |
|---|---|
| 34964 40157 |
|
| 427 612 1078 513 2273 1946 5000 6200 600 471 8112 7436 390 0 0 144 220 193 740 203 520 492 473 632 1210 905 2400 1800 1362 687 4140 2513 606 565 239 273 0 163 1299 2650 2134 1111 1363 0 850 776 |
|
| 35436 30285 -472 9872 0 -6500 27494 21722 750 2400 |
|
| 27772 27494 |
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ZION WAY MINISTRIES INTERNATIONAL
2 Statements of Assets and Liabilities at 28th February 2025
| Cash Funds Bank Total Cash Funds Debtors Loans to members Assets Retained for the Charity's Own use Instruments Equipment Fixtures & fittings Liabilities Accounting fee |
Unrestricted Funds 2025 2024 £ £ 27772 27494 |
|---|---|
| 27772 27494 |
|
| £ £ 5850 6600 |
|
| 777 971 2316 2895 175 219 |
|
| 3268 4085 480 372 |
Approved by the Trustees and signed on their behalf:
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ZION WAY MINISTRIES INTERNATIONAL
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28th February 2025
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.
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