Charity registration number: 1199496
## Zion Worship centre
Annual Report and Financial Statements for the Year Ended 31 May 2023
## **Zion Worship centre**
## **Contents**
|**Contents**||
|---|---|
|Reference and Administrative Details|1|
|Trustees' Report|2|
|Statement of Trustees' Responsibilities|3|
|Independent Examiner's Report|4|
|Statement of Financial Activities|5|
|Balance Sheet|6|
|Notes to the Financial Statements|7 to 10|
## **Zion Worship centre**
## **Reference and Administrative Details**
## **Chairman**
David Ssematimba
**Trustees**
Judith Kajumba Rita Sendaula Dianne Namara **Charity Registration Number**
1199496
## **Principal Office**
Regus Romer House 132 Lewisham High Street LONDON SE13 6EE
## **Independent Examiner**
RM Accountancy Services Castle Cavendish Works Nottingham NG7 5PN
Page 1
## **Zion Worship centre**
## **Trustees' Report**
The trustees present the annual report together with the financial statements of the charity for the year ended 31 May 2023.
## **Objectives and activities**
## _**Objects and aims**_
To support the community by holding Christian services and conferences.
## _**Public benefit**_
The charity has been able to support the community by holding Christian services and conferences in the financial year.
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
## **Financial instruments**
## _**Objectives and policies**_
The charity’s activities expose it to a number of financial risks including credit risk, cash flow risk and liquidity risk. The use of financial derivatives is governed by the charity’s policies approved by the board of trustees, which provide written principles on the use of financial derivatives to manage these risks. The charity does not use derivative financial instruments for speculative purposes.
## _**Credit risk**_
The charity’s principal financial assets are bank balances and cash, trade and other receivables, and investments.
The charity’s credit risk is primarily attributable to its trade receivables. The amounts presented in the balance sheet are net of allowances for doubtful receivables. An allowance for impairment is made where there is an identified loss event which, based on previous experience, is evidence of a reduction in the recoverability of the cash flows.
The credit risk on liquid funds and derivative financial instruments is limited because the counterparties are banks with high credit-ratings assigned by international credit-rating agencies. The charity has no significant concentration of credit risk, with exposure spread over a large number of counterparties and customers.
The annual report was approved by the trustees of the charity on 3 July 2023 and signed on its behalf by:
......................................... Judith Kajumba Trustee s
......................................... Rita Sendaula Trustees
Page 2
.........................................
Dianne Namara Trustee
Page 2
## **Zion Worship centre**
## **Statement of Trustees' Responsibilities**
The trustees are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
The law applicable to charities requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the constitution. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by the trustees of the charity on 3 July 2023 and signed on its behalf by:
......................................... Rita Sendaula Trustee
………………………… Judith Kajumba Trustee
..................................... Dianne Namara Trustee
Page 3
## **Zion Worship centre**
## **Independent Examiner's Report to the trustees of Zion Worship centre**
I report to the trustees on my examination of the accounts of Zion Worship centre for the year ended 31 May 2023.
## **Responsibilities and basis of report**
As the charity trustees of Zion Worship centre 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 Zion Worship centre's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the 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 Zion Worship centre 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 accounting 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.
...................................... RM Accountancy Services
Castle Cavendish Works Nottingham NG7 5PN
3 July 2023
Page 4
## **Zion Worship centre**
## **Statement of Financial Activities for the Year Ended 31 May 2023**
||**Unrestricted**
**Total**|
|---|---|
||**funds**
**2023**|
|**Note**|**£**
**£**|
|**Income and Endowments from:**||
|Donations and legacies|17,088
17,088|
|Total income||
||17,088
17,088|
|**Expenditure on:**||
|Raisingfunds|(14,402)
(14,402)|
|Total expenditure||
||(14,402)
(14,402)|
|Net income||
||2,686
2,686|
|Net movement in funds||
||2,686
2,686|
|**Reconciliation of funds**||
|Total funds carried forward
10||
||2,686
2,686|
All of the charity's activities derive from continuing operations during the above period.
The notes on pages 7 to 10 form an integral part of these financial statements. Page 5
## **Zion Worship centre**
## **(Registration number: 1199496) Balance Sheet as at 31 May 2023**
||**2023**|
|---|---|
|**Note**|**£**|
|**Current assets**||
|||
|Debtors
7|2,460|
|Cash at bank and in hand
8|977|
||3,437|
|**Creditors: Amounts falling due within oneyear**
9||
||(751)|
|**Net**assets||
||2,686|
|**Funds of the charity:**||
|**Unrestricted income funds**||
|||
|Unrestricted funds|2,686|
|**Total funds**
10||
||2,686|
The financial statements on pages 5 to 10 were approved by the trustees, and authorised for issue on 3 July 2023 and signed on their behalf by:
......................................... Judith Kajumba Trustee
......................................... Rita Sendaula Trustee ......................................... Dianne Namara Trustee
The notes on pages 7 to 10 form an integral part of these financial statements. Page 6
## **Zion Worship centre**
## **Notes to the Financial Statements for the Year Ended 31 May 2023**
## **1 Accounting policies**
## **Statement of compliance**
The financial statements have been prepared in accordance with the second edition of the Charities Statement of Recommended Practice issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
## **Basis of preparation**
Zion Worship centre meets the definition of a public benefit entity under FRS 102. The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.
## **Exemption from preparing a cash flow statement**
The charity opted to early adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements.
## **Going concern**
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.
## **Income and endowments**
Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.
## _**Donations and legacies**_
Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be eliably measured.
## **Expenditure**
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure eading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.
## _**Raising funds**_
These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.
## **Support costs**
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.
Page 7
## **Zion Worship centre**
## **Notes to the Financial Statements for the Year Ended 31 May 2023**
## **Governance costs**
These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustee’s meetings and reimbursed expenses.
## **Taxation**
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
## **Trade debtors**
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.
## **Cash and cash equivalents**
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
## **Fund structure**
Unrestricted income funds are general funds that are available for use at the trustee's discretion in furtherance of the objectives of the charity.
## **2 Income from donations and legacies**
|**2**
**Income from donations and legacies**||
|---|---|
||**Unrestricted**|
||**funds**
**Total**|
||**General**
**funds**|
||**£**
**£**|
|Donations and legacies;||
|Donations from individuals|17,088
17,088|
|**Total for 2023**||
||17,088
17,088|
Page 8
## **Zion Worship centre**
## **Notes to the Financial Statements for the Year Ended 31 May 2023**
## **3 Expenditure on raising funds**
## **Costs of trading activities a)**
|**a)**
**Costs of trading activities**||||
|---|---|---|---|
|||**Unrestricted**||
|||**funds**|**Total**|
|||**General**|**funds**|
||**Note**|**£**|**£**|
|Costs ofgoods sold||4,590|4,590|
|**Total for 2023**||4,590|4,590|
## **Investment management costs b)**
|**b)**|**Investment management costs**|||||
|---|---|---|---|---|---|
||||**Unrestricted**|||
||||**funds**||**Total**|
||||**General**||**funds**|
|||**Note**|**£**||**£**|
|Allocated support costs||||9,812|9,812|
|**Total for 2023**||||9,812|9,812|
||||||**Total**|
||||||**costs**|
||||||**£**|
|**4**|**Net incoming/outgoing resources**|||||
|Net incoming/outgoing resources for the year include:||||||
||||||**2023**|
||||||**£**|
## **5 Trustees remuneration and expenses**
The amount expenses waived by the trustees during the year totalled £Nil.
Page 9
## **Zion Worship centre**
## **Notes to the Financial Statements for the Year Ended 31 May 2023**
## **6 Taxation**
The charity is a registered charity and is therefore exempt from taxation.
## **7 Debtors**
**2023 £**
Other debtors 2,460
## **8 Cash and cash equivalents**
|||**2023**||
|---|---|---|---|
|||**£**||
|Cash on|hand||959|
|Cash at|bank||18|
||||977|
## **9 Creditors: amounts falling due within one year**
|**9**
**Creditors: amounts falling due within one year**|||
|---|---|---|
||**2023**||
||**£**||
|Other creditors||1|
|Accruals||750|
|||751|
## **10 Funds**
|**10**
**Funds**||||
|---|---|---|---|
||**Incoming**|**Resources**|**Balance at 31**|
||**resources**|**expended**|**May 2023**|
||**£**|**£**|**£**|
|**Unrestricted funds**||||
|General|17,088|(14,402)|2,686|
## **11 Analysis of net assets between funds**
|**11**
**Analysis of net assets between funds**||
|---|---|
||**Unrestricted**
**Total funds at**|
||**funds**
**31 May**|
||**General**
**2023**|
||**£**
**£**|
|Current assets|3,437
3,437|
|Current liabilities|(751)
(751)|
|Total net assets||
||2,686
2,686|
Page 10
## **Zion Worship centre**
## **Statement of Financial Activities by fund for the Year Ended 31 May 2023**
||**Total**|
|---|---|
||**Unrestricted**|
||**Funds**|
||**2023**|
||**£**|
|**Income and Endowments from:**||
|Donations and legacies|17,088|
|Total income||
||17,088|
|**Expenditure on:**||
|Raisingfunds|(14,402)|
|Total expenditure||
||(14,402)|
|Net income||
||2,686|
|**Reconciliation of funds**||
|Total funds carried forward||
||2,686|
This page does not form part of the statutory financial statements. Page 11
## **Zion Worship centre**
## **Detailed Statement of Financial Activities for the Year Ended 31 May 2023**
||**Total**|
|---|---|
||**2023**|
||**£**|
|**Income and Endowments from:**||
|Donations and legacies(analysed below)|17,088|
|Total income||
||17,088|
|**Expenditure on:**||
|Raisingfunds(analysed below)|(14,402)|
|Total expenditure||
||(14,402)|
|Net income||
||2,686|
|**Reconciliation of funds**||
|Total funds carried forward||
||2,686|
This page does not form part of the statutory financial statements. Page 12
## **Zion Worship centre**
## **Detailed Statement of Financial Activities for the Year Ended 31 May 2023**
||**Total**|
|---|---|
||**2023**|
||**£**|
|**_Donations and legacies_**||
|||
|Appeals and donations|17,088|
||17,088|
|**_Raising funds_**||
|||
|Direct costs|(4,590)|
|Rent|(4,200)|
|Insurance|(111)|
|Repairs and maintenance|(21)|
|Telephone and fax|(244)|
|Office expenses|(1,029)|
|Computer software and maintenance costs|(202)|
|Printing, postage and stationery|(94)|
|Trade subscriptions|(40)|
|Sundry expenses|(2,599)|
|Motor expenses|(307)|
|Travel and subsistence|(114)|
|Accountancy fees|(750)|
|Legal and professional fees|(100)|
|Bank charges|(1)|
||(14,402)|
This page does not form part of the statutory financial statements. Page 13