2022-03-31-accounts - Zion House International Ministry

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ZION HOUSE INTERNATIONAL MINISTRY

REPORT AND ACCOUNTS YEAR ENDED 31 MARCH 2022

Registered Charity No. 1154584

ZION HOUSE INTERNATIONAL MINISTRY

Contents of the Financial Statements for the Year Ended 31 March 2022

	Page No.
Report of the Trustees	3-4

Independent Examiner’s Report	5

Statement of Receipts and Payments Account Summary	6

Statement of Income and Liabilities	7
Notes to the Accounts	8-11

Detailed Statement of Receipts and Payments Account	12

ZION HOUSE INTERNATIONAL MINISTRY REPORT TO THE TRUSTEES

FOR THE YEAR ENDED 31 MARCH 2022

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

Activities in the year

Zion House held weekly meetings and services of worship in East London. These were open to the public without charge.
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.
Zion House also provides a chaplaincy service on request.
Other activities undertaken were Community Outreach and Maturity Classes, Sunday Schooling for children, Music Training for young people and the development of a technically equipped Sound Team.
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.

ZION HOUSE INTERNATIONAL MINISTRY REPORT TO THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022

(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 Trustees consider that the reserve level at the end of the year of £3,766, 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 loss of £3,576 for the year (2020/21, a surplus of £6,826). This was mainly due to an increase in the provision of Pastoral care to members and the community at large, coupled with Charitable donations. The Trustees are committed to ensuring that Zion House International Ministry continues to meet all its financial liabilities in full in the year ahead (2023/24) and remain strongly as a going concern

Approved by the Board of Trustees on 30[th] January 2023 and signed on its behalf by:

Trustee

……………………………

Address of the Charity Zion House International Ministries 75 Nelson Street London E6 2QA

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 2022.

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:

accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
the accounts do not accord with those records; or
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.

OlusolaMakinwa

Olusola Makinwa (MSc FCCA) Krypton Consulting Ltd Chartered Certified Accountants & Tax Advisers Unit 6 Town Quay Wharf Barking Essex IG11 7BZ

30 January 2023

The notes form part of these financial statements

Zion House International Ministry

Statement of Receipts and Payments Account Simmary for the Year Ended 31 March 2022

		31.3.22	31.3.21
		Unrestricted	Total
		fund	funds
	Notes	£	£
INCOME AND ENDOWMENTS FROM
Donations and legacies		44,331	35,619
EXPENDITURE ON
Charitable activities
CHARITABLE ACTIVITIES		48,268	28,792
NET INCOME/(EXPENDITURE)		(3,937)	6,827
RECONCILIATION OF FUNDS
Total funds brought forward		7,343	516
TOTAL FUNDS CARRIED FORWARD		3,406	7,343

The notes form part of these financial statements

Zion House International Ministry

Statement of Income and Liabilities 31 March 2022

		31.3.22	31.3.21
		Unrestricted	Total
		fund	funds
	Notes	£	£
FIXED ASSETS
Tangible assets	4	811	1,082
CURRENT ASSETS
Prepayments and accrued income		-	360
Cash at bank		2,595	5,901
		2,595	6,261
NET CURRENT ASSETS		2,595	6,261
TOTAL ASSETS LESS CURRENT LIABILITIES
		3,406	7,343
NET ASSETS		3,406	7,343
FUNDS	5
Unrestricted funds		3,406	7,343
TOTAL FUNDS		3,406	7,343

The financial statements were approved by the Board of Trustees and authorised for issue on 30 January 2023 and were signed on its behalf by:

A De-Heer - Trustee

The notes form part of these financial statements

Zion House International Ministry

Notes to the Financial Statements for the Year Ended 31 March 2022

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 has been 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 actual basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to 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 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.

Zion House International Ministry

Notes to the Financial Statements - continued for the Year Ended 31 March 2022

2. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2022 nor for the year ended 31 March 2021.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2022 nor for the year ended 31 March 2021.

3. COMPARATIVES FOR THE STATEMENT OF RCEIPTS AND PAYMENTS SUMMARY

		Unrestricted
		fund
		£
	INCOME AND ENDOWMENTS FROM
	Donations and legacies	35,619
	EXPENDITURE ON
	Charitable activities
	CHARITABLE ACTIVITIES	28,792
	NET INCOME	6,827
	RECONCILIATION OF FUNDS
	Total funds brought forward	516
	TOTAL FUNDS CARRIED FORWARD	7,343
4.	TANGIBLE FIXED ASSETS
		Fixtures
		and
		fittings
		£
	COST
	At 1 April 2021 and 31 March 2022	1,352
	DEPRECIATION
	At 1 April 2021	270
	Charge for year	271
	At 31 March 2022	541
	NET BOOK VALUE
	At 31 March 2022	811
	At 31 March 2021	1,082

Zion House International Ministry

Notes to the Financial Statements - continued for the Year Ended 31 March 2022

5. MOVEMENT IN FUNDS

		Net
		movement	At
	At 1/4/21	in funds	31/3/22
	£	£	£
Unrestricted funds
General fund	7,343	(3,937)	3,406
TOTAL FUNDS	7,343	(3,937)	3,406
Net movement in funds, included in the above are as follows:
	Incoming	Resources	Movement
	resources	expended	in funds
	£	£	£
Unrestricted funds
General fund	44,331	(48,268)	(3,937)
TOTAL FUNDS	44,331	(48,268)	(3,937)

Comparatives for 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
Comparative 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
TOTAL FUNDS	35,619		(28,792)	6,827

Zion House International Ministry

Notes to the Financial Statements - continued for the Year Ended 31 March 2022

5. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined position is as follows:

		Net
		movement	At
	At 1/4/20	in funds	31/3/22
	£	£	£
Unrestricted funds
General fund	516	2,890	3,406
TOTAL FUNDS	516	2,890	3,406

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	79,950	(77,060)	2,890
TOTAL FUNDS	79,950	(77,060)	2,890

6. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2022.

Zion House International Ministry

Detailed Statement of Receipts and Payments for the Year Ended 31 March 2022

Detailed Statement of Receipts and Payments for the Year Ended 31 March 2022
	31.3.22	31.3.21
	£	£
INCOME AND ENDOWMENTS
Donations and legacies
Total Receipts	39,027	33,123
Legacies	-	2,496
CVJRC Grant	5,304	-
	44,331	35,619
Total incoming resources	44,331	35,619
EXPENDITURE
Charitable activities
Salary & Pension Costs	32,998	17,320
Printing, Postage & Stationery	63	-
Rent	1,470	-
Subsistence	1,300	2,173
Travel	3,746	2,440
Donations	3,773	592
	43,350	22,525
Support costs
Management
Building Repairs	361	1,065
Computing	963	1,079
Equipment Repairs	494	881
Sundry	1,191	30
Hospitality	1,249	2,522
Fixtures and fittings	270	270
	4,528	5,847
Governance costs
Bookkeeping and Accounting	390	420
Total resources expended	48,268	28,792
Net (expenditure)/income	(3,937)	6,827

This page does not form part of the statutory financial statements 12