REGISTERED CHARITY NUMBER: 0291437
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
FOR
MOUNT ZION 7TH DAY CHURCH OF GOD
(UK INTERNATIONAL CONFERENCE)
MOUNT ZION 7TH DAY CHURCH OF GOD (UK INTERNATIONAL CONFERENCE)
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | ||
| Independent Examiner's Report | 2 | ||
| Statement of Financial Activities | 3 | ||
| Balance Sheet | 4 | ||
| Notes to the Financial Statements | 5 | to | 10 |
| Detailed Statement of Financial Activities | 11 |
MOUNT ZION 7TH DAY CHURCH OF GOD (UK INTERNATIONAL CONFERENCE)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021
The trustees present their report with the financial statements of the charity for the year ended 31 March 2021. The trustees have adopted the provisions of 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).
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
0291437
Principal address
333a Sydenham Road Croydon Surrey CR0 2EL
Trustees
BISHOP E S HENRY PRESIDENT MRS G A K DAVIS TREASURER MISS V JOSEPH SECRETARY MS Y I DECUNHA FINANCIAL TRUSTEE
Independent Examiner
ABUDEY & COMPANY ACCOUNTANTS 14-16 POWIS STREET WOOLWICH LONDON SE18 6LF
Approved by order of the board of trustees on 22 January 2022 and signed on its behalf by:
BISHOP E S HENRY - Trustee
Page 1
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF MOUNT ZION 7TH DAY CHURCH OF GOD (UK INTERNATIONAL CONFERENCE)
Independent examiner's report to the trustees of MOUNT ZION 7TH DAY CHURCH OF GOD (UK INTERNATIONAL CONFERENCE)
I report to the charity trustees on my examination of the accounts of MOUNT ZION 7TH DAY CHURCH OF GOD (UK INTERNATIONAL CONFERENCE) (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:
-
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.
MR SYMON L. ABUDEY FAIA ABUDEY & COMPANY ACCOUNTANTS 14-16 POWIS STREET WOOLWICH LONDON SE18 6LF
22 January 2022
Page 2
MOUNT ZION 7TH DAY CHURCH OF GOD (UK INTERNATIONAL CONFERENCE)
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021
| 2021 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 48,988 Other income 12,521 Total 61,509 EXPENDITURE ON Raising funds 3 16,310 Other 28,184 Total 44,494 NET INCOME/(EXPENDITURE) 17,015 RECONCILIATION OF FUNDS Total funds brought forward 193,744 TOTAL FUNDS CARRIED FORWARD 210,759 |
2020 Total funds £ 65,451 13,162 78,613 33,335 57,180 90,515 (11,902) 205,646 193,744 |
|---|---|
The notes form part of these financial statements
Page 3
MOUNT ZION 7TH DAY CHURCH OF GOD (UK INTERNATIONAL CONFERENCE)
BALANCE SHEET 31 MARCH 2021
| 2021 Unrestricted fund Notes £ FIXED ASSETS Tangible assets 6 193,242 CURRENT ASSETS Debtors 7 9,879 Cash at bank and in hand 51,511 61,390 CREDITORS Amounts falling due within one year 8 (2,223) NET CURRENT ASSETS 59,167 TOTAL ASSETS LESS CURRENT LIABILITIES 252,409 CREDITORS Amounts falling due after more than one year 9 (41,650) NET ASSETS 210,759 FUNDS 11 Unrestricted funds 210,759 TOTAL FUNDS 210,759 |
2020 Total funds £ 197,402 11,463 31,388 42,851 (2,154) 40,697 238,099 (44,355) 193,744 193,744 193,744 |
|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 22 January 2022 and were signed on its behalf by:
E S HENRY - Trustee
The notes form part of these financial statements
Page 4
MOUNT ZION 7TH DAY CHURCH OF GOD (UK INTERNATIONAL CONFERENCE)
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.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
| Fixtures and fittings | - 15% on reducing balance |
|---|---|
| Motor vehicles | - 25% on reducing balance |
| Computer equipment | - 20% on reducing balance |
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.
2. DONATIONS AND LEGACIES
| DONATIONS AND LEGACIES | ||
|---|---|---|
| Tithes, Offerings & Donations HMRC Gift Aid Events & Fund raising |
2021 £ 39,109 9,879 - 48,988 |
2020 £ 52,424 11,117 1,910 |
| 65,451 |
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continued...
MOUNT ZION 7TH DAY CHURCH OF GOD (UK INTERNATIONAL CONFERENCE)
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021
3. RAISING FUNDS
Raising donations and legacies
| Water Rates Church Insurance Light and heat Telephone charges Postage,printing & stationery General Running Expenses Hotel & Conferences expenses |
2021 £ 634 3,769 3,811 2,164 1,850 2,385 1,697 16,310 |
2020 £ 1,032 3,529 4,566 3,793 6,322 1,592 12,501 |
|---|---|---|
| 33,335 |
4. 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.
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |
|---|---|
| fund | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Donations and legacies | 65,451 |
| Other income | 13,162 |
| Total | 78,613 |
| EXPENDITURE ON | |
| Raising funds | 33,335 |
| Other | 57,180 |
| Total | 90,515 |
| NET INCOME/(EXPENDITURE) | (11,902) |
| RECONCILIATION OF FUNDS | |
| Total funds brought forward | 205,646 |
| TOTAL FUNDS CARRIED FORWARD | 193,744 |
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continued...
MOUNT ZION 7TH DAY CHURCH OF GOD (UK INTERNATIONAL CONFERENCE)
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021
6. TANGIBLE FIXED ASSETS
| COST At 1 April 2020 and 31 March 2021 DEPRECIATION At 1 April 2020 Charge for year At 31 March 2021 NET BOOK VALUE At 31 March 2021 At 31 March 2020 COST At 1 April 2020 and 31 March 2021 DEPRECIATION At 1 April 2020 Charge for year At 31 March 2021 NET BOOK VALUE At 31 March 2021 At 31 March 2020 7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR HMRC-Gift Aid Claim |
Freehold property £ 172,395 - - - 172,395 172,395 Motor vehicles £ 4,500 4,500 - 4,500 - - |
Plant and machinery £ 16,939 13,970 742 14,712 2,227 2,969 Computer equipment £ 5,448 3,205 449 3,654 1,794 2,243 2021 £ 9,879 |
Fixtures and fittings £ 65,483 |
|---|---|---|---|
| 45,688 2,969 |
|||
| 48,657 | |||
| 16,826 | |||
| 19,795 | |||
| Totals £ 264,765 |
|||
| 67,363 4,160 |
|||
| 71,523 | |||
| 193,242 | |||
| 197,402 | |||
| 2020 £ 11,463 |
continued...
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MOUNT ZION 7TH DAY CHURCH OF GOD (UK INTERNATIONAL CONFERENCE)
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
|---|---|---|---|---|
| 2021 | 2020 | |||
| £ | £ | |||
| Other creditors | 2,223 | 2,154 | ||
| 9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR | |||
| 2021 | 2020 | |||
| £ | £ | |||
| Other creditors | 41,650 | 44,355 | ||
| 10. | LOANS | |||
| An analysis of the maturity of loans is given below: | ||||
| 2021 | 2020 | |||
| £ | £ | |||
| Amounts falling due between two and five years: | ||||
| Mortgage Account 64388682 | 41,650 | 44,355 | ||
| 11. | MOVEMENT IN FUNDS | |||
| Net | ||||
| movement | At | |||
| At 1.4.20 | in funds | 31.3.21 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 193,744 | 17,015 | 210,759 | |
| TOTAL FUNDS | 193,744 | 17,015 | 210,759 | |
| Net movement in funds, included in the above are as follows: | ||||
| Incoming | Resources | Movement | ||
| resources | expended | in funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 61,509 | (44,494) | 17,015 | |
| TOTAL FUNDS | 61,509 | (44,494) | 17,015 |
continued...
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MOUNT ZION 7TH DAY CHURCH OF GOD (UK INTERNATIONAL CONFERENCE)
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021
11. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| At 1.4.19 £ Unrestricted funds General fund 205,646 TOTAL FUNDS 205,646 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 78,613 TOTAL FUNDS 78,613 |
Net movement At in funds 31.3.20 £ £ (11,902) 193,744 (11,902) 193,744 Resources Movement expended in funds £ £ (90,515) (11,902) (90,515) (11,902) |
At 31.3.20 £ 193,744 |
At 31.3.20 £ 193,744 |
|---|---|---|---|
| 193,744 | |||
| (11,902) |
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 1.4.19 £ 205,646 205,646 |
Net movement in funds £ 5,113 5,113 |
At 31.3.21 £ 210,759 |
|---|---|---|---|
| 210,759 |
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 | 140,122 | (135,009) | 5,113 |
| TOTAL FUNDS | 140,122 | (135,009) | 5,113 |
continued...
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MOUNT ZION 7TH DAY CHURCH OF GOD (UK INTERNATIONAL CONFERENCE)
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021
12. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2021.
Page 10
MOUNT ZION 7TH DAY CHURCH OF GOD (UK INTERNATIONAL CONFERENCE)
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Tithes, Offerings & Donations | 39,109 | 52,424 |
| HMRC Gift Aid | 9,879 | 11,117 |
| Events & Fund raising | - | 1,910 |
| 48,988 | 65,451 | |
| Other income | ||
| Rent Received | 9,900 | 9,900 |
| Interest Received | 12 | 40 |
| Refund | 2,609 | 3,222 |
| 12,521 | 13,162 | |
| Total incoming resources | 61,509 | 78,613 |
| EXPENDITURE | ||
| Raising donations and legacies | ||
| Water Rates | 634 | 1,032 |
| Church Insurance | 3,769 | 3,529 |
| Light and heat | 3,811 | 4,566 |
| Telephone charges | 2,164 | 3,793 |
| Postage,printing & stationery | 1,850 | 6,322 |
| General Running Expenses | 2,385 | 1,592 |
| Hotel & Conferences expenses | 1,697 | 12,501 |
| 16,310 | 33,335 | |
| Other | ||
| Motor Expenses | 3,843 | 5,029 |
| Social & Youth Expenses | 1,783 | 5,687 |
| Repairs & Renewals | 4,630 | 26,694 |
| Laundry & cleaning | 1,099 | 1,828 |
| Donations | 6,859 | 3,872 |
| Travel, & Coach Hir | 420 | 3,247 |
| Flowers & Souvenirs | 110 | 304 |
| Mortgage Loan Interest | 3,245 | 3,440 |
| Accountancy Charges | 2,035 | 2,035 |
| Depn of musical equipment | 742 | 990 |
| Depreciation of Fixtures & Fittings | 2,969 | 3,493 |
| Depreciation of computer equipment | 449 | 561 |
| 28,184 | 57,180 | |
| Total resources expended | 44,494 | 90,515 |
| Net income/(expenditure) | 17,015 | (11,902) |
This page does not form part of the statutory financial statements
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