ZION HOUSE INTERNATIONAL MINISTRY REPORT AND ACCOUNTS YEAR ENDED 31 MARCH 2021 Registered Charity No. 1154584 ZION HOUSE INTERNATIONAL MINISTRY ## Contents of the Financial Statements for the Year Ended 31 March 2021 **----- Start of picture text -----**
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No.
Report of the Trustees 3-4
Independent Examiner’s Report 5
Statement of Receipts and Payments Account Summary 6
Statement of Assets & Liabilities 7
Notes to the Accounts 8-11
Detailed Statement of Receipts and Payments Account 12
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# **ZION HOUSE INTERNATIONAL MINISTRY** ## **REPORT TO THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021** ## Constitution Zion House International Ministry is a registered charity whose main overall purpose is to advance the Christian faith in accordance with the doctrinal standards and discipline of the Bible. This includes all charitable purposes relating to the advancement of the Christian Faith. The Ministry is also purposed to personally develop its members, congregation, donors and the community at large. The affairs of the Ministry are administered and managed by an elected group of Trustees. The registered charity number is 1154584 ## Objects The objective of the Ministry, in line with its constitution, is to facilitate the restoration of broken homes and families in the communities principally in England by equipping men, women, youth and children within the family unit with a solid biblical framework to regain their identity in God and therefore play purposeful and effective roles in the society. ## Trustees The Following members of the Trustees served during the year Mary Hansen Adriana de-Heer K Blankson (appointed 24.7.19) ## Activities in the year 1. Zion House held weekly meetings and services of worship in East London. These were open to the general public without charge. 2. We also organised youth meetings open to the public to help the youth and build confidence in who they are and to positively impact society. This included organised youth activities such as group outings to various locations. 3. Zion House also provides a chaplaincy service on request. 4. Other activities undertaken were Outreach and Maturity classes, Sunday Schooling for children and the development of a technically equipped Sound Team. 5. We kept up to date with the challenging issues facing the local community and internationally and responded to needs through donations and teaching and expounding on the relevant bible principles. 3 | P a g e ## **ZION HOUSE INTERNATIONAL MINISTRY** ## **REPORT TO THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021** **(CONTINUED)** ## **Reserves Policy** It is the policy of the charity to maintain unrestricted funds, which are the free reserves of the charity, at a level, which equates to approximately one months unrestricted expenditure. This provides sufficient funds to cover running and administration, and operational support costs. The reserves of £6,261. The trustees considers that the reserve level at the end of the year, is adequate for the charity. ## Risk Management There are no risk factors to report as the charity has little or no liability because of its current set up. Place of worship is rented and apart from salaries, no other financial commitment is envisaged at this time. ## Financial results for the year The activities of the Charity resulted in a surplus of £5,745 for the year (2019/20, loss of £806). This has been driven by a reduction in expenditure to support the needs of our community, coupled with a Corona Virus Job Retention Scheme Grant received in the year as well as nil rental costs as a result of COVID. It must be noted that Zion House International Ministry will continue to fully meet all its financial liabilities in 2022/23 and remain strongly as going concern Approved by the Trustees on 24[th] January 2022 and signed on its behalf by: ## **AdeHeer** A de-Heer **Trustee** **Address of the Charity Zion House International Ministries 75 Nelson Street London E6 2QA** 4 | P a g e Independent Examiner's Report to the Trustees of Zion House International Ministry ## **Independent examiner's report to the trustees of Zion House International Ministry** I report to the charity trustees on my examination of the accounts of Zion House International Ministry (the Trust) for the year ended 31 March 2021. ## **Responsibilities and basis of report** As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act'). I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. ## **Independent examiner's statement** I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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. 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. ## Shola Makinwa Olusola Makinwa (MSc FCCA) Krypton Consulting Ltd Chartered Certified Accountants & Tax Advisers Town Quay Wharf Barking Essex IG11 7BZ Date: 24[th] January 2022 5 | P a g e Zion House International Ministry ## Statements of Receipts and Payments Account Summary for the Year Ended 31 March 2021 |||31.3.21|31.3.20| |---|---|---|---| |||Unrestricted|| ||||Total| |||fund|funds| ||Notes|£|£| |**INCOME FROM**|||| |Total Receipts including Donation||35,619|29,069| **EXPENDITURE ON Charitable activities** CHARITABLE ACTIVITIES 28,792 29,875 ## **NET INCOME/(EXPENDITURE)** 6,827 (806) ## **RECONCILIATION OF FUNDS** ## **Total funds brought forward** 516 1,322 ## **TOTAL FUNDS CARRIED FORWARD** 7,343 516 The notes form part of these financial statements 6 | P a g e Zion House International Ministry ## Statement of Income amd Liabilities 31 March 2021 |||31.3.21||31.3.20| |---|---|---|---|---| |||Unrestricted||| ||||Total|| |||fund||funds| ||Notes|£||£| |**FIXED ASSETS**||||| |Tangible assets|4|1,082||-| |**CURRENT ASSETS**||||| |Prepayments and accrued income||360||360| |Cash at bank||5,901||156| |||6,261||516| |**NET CURRENT ASSETS**||6,261||516| ## **TOTAL ASSETS LESS CURRENT LIABILITIES** 7,343 516 ## **NET ASSETS** 7,343 516 ## **FUNDS** 5 Unrestricted funds 7,343 516 7 | P a g e **TOTAL FUNDS** 7,343 516 The financial statements were approved by the Board of Trustees and authorised for issue on 24[th] January 2022 and were signed on its behalf by: ## **AdeHeer** A de-Heer Trustee 8 | P a g e Zion House International Ministry Notes to the Financial Statements for the Year Ended 31 March 2021 ## **1. ACCOUNTING POLICIES** ## **Basis of preparing the financial statements** The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention. ## **Income** All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. ## **Expenditure** Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure. ## **Tangible fixed assets** Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. ## **Taxation** The charity is exempt from tax on its charitable activities. ## **Fund accounting** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. 9 | P a g e Zion House International Ministry Notes to the Financial Statements - continued for the Year Ended 31 March 2021 ## **2. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 31 March 2021 nor for the year ended 31 March 2020. ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 31 March 2021 nor for the year ended 31 March 2020. ## **3. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES** ||Unrestricted| |---|---| ||fund| ||£| |**INCOME**|| |Total Receipts including Donations|29,069| ## **EXPENDITURE ON Charitable activities** CHARITABLE ACTIVITIES 29,875 **NET INCOME/(EXPENDITURE)** (806) ## **RECONCILIATION OF FUNDS** ## **Total funds brought forward** 1,322 ## **TOTAL FUNDS CARRIED FORWARD** 516 **4. TANGIBLE FIXED ASSETS** 10 | P a g e ||Fixtures| |---|---| ||and| ||fttings| ||£| |**COST**|| |Additions|1,352| |**DEPRECIATION**|| |Charge for year|270| |**NET BOOK VALUE**|| |At 31 March 2021|1,082| |At 31 March 2020|-| 11 | P a g e Zion House International Ministry ## Notes to the Financial Statements - continued for the Year Ended 31 March 2021 |**5.**|**MOVEMENT IN FUNDS**|||| |---|---|---|---|---| ||||Net|| ||||movement|At| |||At 1/4/20|in funds|31/3/21| |||£|£|£| ||**Unrestricted funds**|||| |General fund||||| |516||||| |6,827||||| |7,343||||| **TOTAL FUNDS** 516 6,827 7,343 Net movement in funds, included in the above are as follows: |||Incoming|Resources|Movement| |---|---|---|---|---| |||resources|expended|in funds| |||£|£|£| ||**Unrestricted funds**|||| |General fund||||| |35,619||||| |(28,792)||||| |6,827||||| 12 | P a g e **TOTAL FUNDS** 35,619 (28,792) 6,827 ## **Comparatives for movement in funds** Net movement At At 1/4/19 in funds 31/3/20 £ £ £ **Unrestricted funds** General fund 1,322 (806) 516 ## **TOTAL FUNDS** 1,322 (806) 516 Comparative net movement in funds, included in the above are as follows: Incoming Resources Movement resources expended in funds £ £ £ **Unrestricted funds** General fund 29,069 (29,875) (806) 13 | P a g e TOTAL FUNDS 29,069 129,8751 18061 141Page Zion House International Ministry ## Notes to the Financial Statements - continued for the Year Ended 31 March 2021 ## **5. MOVEMENT IN FUNDS - continued** A current year 12 months and prior year 12 months combined position is as follows: |||||Net|| |---|---|---|---|---|---| |||||movement|At| |||At|1/4/19|in funds|31/3/21| ||||£|£|£| ||**Unrestricted funds**||||| |General fund|||||| |1,322|||||| |6,021|||||| |7,343|||||| **TOTAL FUNDS** 1,322 6,021 7,343 A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: ||Incoming|Resources|Movement| |---|---|---|---| ||resources|expended|in funds| ||£|£|£| |**Unrestricted funds**|||| General fund 64,688 (58,667) 6,021 15 | P a g e **TOTAL FUNDS** 64,688 (58,667) 6,021 ## **6. RELATED PARTY DISCLOSURES** There were no related party transactions for the year ended 31 March 2021. 16 | P a g e Zion House International Ministry Detailed Statement of Financial Activities for the Year Ended 31 March 2021 31.3.21 31.3.20 £ £ ## **INCOME** |**Receipts and Donations**
Total Receipts
33,123
28,933
Donations
-
136
CVJRC
2,496
-
**Total incoming resources**
35,619
29,069
**EXPENDITURE**
**Charitable activities**
Salary & Pension Costs
Printing, Postage & Stationery
Rent
Subsistence
Travel
Insurance
Donations
**Support costs**
**Management**
Building Repairs
Computing
Equipment Repairs
Sundry
Software|35,619
17,320
-
-
2,173
2,440
-
592
22,525
1,065
1,079
881
30
-|29,069
10,212
201
12,750
2,506
2,209
241
304
28,423
-
1,056
-
-
36| |---|---|---| This page does not form part of the statutory financial statements 17 | P a g e |Hospitality
Fixtures and fttings Depreciation
**Governance costs**
Bookkeeping and Accounting
Total resources expended
**Net income/(expenditure)**|2,522
270
5,847
420
28,792
6,827|-
-
1,092
360
29,875
(806)| |---|---|---| This page does not form part of the statutory financial statements 18 | P a g e