REGISTERED CHARITY NUMBER: 0291437
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
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 2023
| 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 2023
The trustees present their report with the financial statements of the charity for the year ended 31 March 2023. 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 27 January 2024 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 2023.
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
ABUDEY & COMPANY ACCOUNTANTS 14-16 POWIS STREET WOOLWICH LONDON SE18 6LF
27 January 2024
Page 2
MOUNT ZION 7TH DAY CHURCH OF GOD (UK INTERNATIONAL CONFERENCE)
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023
| 2023 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 141,153 Other income 13,220 Total 154,373 EXPENDITURE ON Raising funds 3 45,414 Other 92,440 Total 137,854 NET INCOME/(EXPENDITURE) 16,519 RECONCILIATION OF FUNDS Total funds brought forward 206,610 TOTAL FUNDS CARRIED FORWARD 223,129 |
2022 Total funds £ 73,447 21,562 95,009 24,423 74,735 99,158 (4,149) 210,759 206,610 |
|---|---|
The notes form part of these financial statements
Page 3
MOUNT ZION 7TH DAY CHURCH OF GOD (UK INTERNATIONAL CONFERENCE)
BALANCE SHEET 31 MARCH 2023
| 2023 Unrestricted fund Notes £ FIXED ASSETS Tangible assets 6 204,685 CURRENT ASSETS Debtors 7 15,046 Cash at bank and in hand 41,333 56,379 CREDITORS Amounts falling due within one year 8 (2,343) NET CURRENT ASSETS 54,036 TOTAL ASSETS LESS CURRENT LIABILITIES 258,721 CREDITORS Amounts falling due after more than one year 9 (35,592) NET ASSETS 223,129 FUNDS 11 Unrestricted funds 223,129 TOTAL FUNDS 223,129 |
2022 Total funds £ 189,802 13,041 44,791 57,832 (2,289) 55,543 245,345 (38,735) 206,610 206,610 206,610 |
|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 27 January 2024 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 2023
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 |
2023 £ 124,202 16,951 141,153 |
2022 £ 60,404 13,043 |
| 73,447 |
Page 5
continued...
MOUNT ZION 7TH DAY CHURCH OF GOD (UK INTERNATIONAL CONFERENCE)
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023
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 |
2023 £ 1,431 4,519 7,093 2,582 4,834 5,527 19,428 45,414 |
2022 £ 1,004 4,016 4,418 2,592 4,148 2,406 5,839 |
|---|---|---|
| 24,423 |
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2023 nor for the year ended 31 March 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2023 nor for the year ended 31 March 2022.
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |
|---|---|
| fund | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Donations and legacies | 73,447 |
| Other income | 21,562 |
| Total | 95,009 |
| EXPENDITURE ON | |
| Raising funds | 24,423 |
| Other | 74,735 |
| Total | 99,158 |
| NET INCOME/(EXPENDITURE) | (4,149) |
| RECONCILIATION OF FUNDS | |
| Total funds brought forward | 210,759 |
| TOTAL FUNDS CARRIED FORWARD | 206,610 |
Page 6
continued...
MOUNT ZION 7TH DAY CHURCH OF GOD (UK INTERNATIONAL CONFERENCE)
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023
6. TANGIBLE FIXED ASSETS
| COST At 1 April 2022 Additions At 31 March 2023 DEPRECIATION At 1 April 2022 Charge for year At 31 March 2023 NET BOOK VALUE At 31 March 2023 At 31 March 2022 COST At 1 April 2022 Additions At 31 March 2023 DEPRECIATION At 1 April 2022 Charge for year At 31 March 2023 NET BOOK VALUE At 31 March 2023 At 31 March 2022 |
Freehold property £ 172,395 - 172,395 - - - 172,395 172,395 Motor vehicles £ 4,500 - 4,500 4,500 - 4,500 - - |
Plant and machinery £ 16,939 7,580 24,519 15,269 2,312 17,581 6,938 1,670 Computer equipment £ 5,448 2,809 8,257 4,013 849 4,862 3,395 1,435 |
Fixtures and fittings £ 65,483 9,800 |
|---|---|---|---|
| 75,283 | |||
| 51,181 2,145 |
|||
| 53,326 | |||
| 21,957 | |||
| 14,302 | |||
| Totals £ 264,765 20,189 |
|||
| 284,954 | |||
| 74,963 5,306 |
|||
| 80,269 | |||
| 204,685 | |||
| 189,802 |
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 2023
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||
|---|---|---|---|---|---|
| 2023 | 2022 | ||||
| £ | £ | ||||
| HMRC-Gift Aid Claim | 15,046 | 13,041 | |||
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||
| 2023 | 2022 | ||||
| £ | £ | ||||
| Other creditors | 2,343 | 2,289 | |||
| 9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN | ONE YEAR | |||
| 2023 | 2022 | ||||
| £ | £ | ||||
| Other creditors | 35,592 | 38,735 | |||
| 10. | LOANS | ||||
| An analysis of the maturity of loans is given below: | |||||
| 2023 | 2022 | ||||
| £ | £ | ||||
| Amounts falling due between two and five years: | |||||
| Mortgage Account 64388682 | 35,592 | 38,735 | |||
| 11. | MOVEMENT IN FUNDS | ||||
| Net | |||||
| movement | At | ||||
| At | 1.4.22 | in funds | 31.3.23 | ||
| £ | £ | £ | |||
| Unrestricted funds | |||||
| General fund | 206,610 | 16,519 | 223,129 | ||
| TOTAL FUNDS | 206,610 | 16,519 | 223,129 | ||
| Net movement in funds, included in the above are as follows: | |||||
| Incoming | Resources | Movement | |||
| resources | expended | in funds | |||
| £ | £ | £ | |||
| Unrestricted funds | |||||
| General fund | 154,373 | (137,854) | 16,519 | ||
| TOTAL FUNDS | 154,373 | (137,854) | 16,519 |
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 2023
11. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| At 1.4.21 £ Unrestricted funds General fund 210,759 TOTAL FUNDS 210,759 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 95,009 TOTAL FUNDS 95,009 |
Net movement At in funds 31.3.22 £ £ (4,149) 206,610 (4,149) 206,610 Resources Movement expended in funds £ £ (99,158) (4,149) (99,158) (4,149) |
At 31.3.22 £ 206,610 |
At 31.3.22 £ 206,610 |
|---|---|---|---|
| 206,610 | |||
| (4,149) |
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 1.4.21 £ 210,759 210,759 |
Net movement in funds £ 12,370 12,370 |
At 31.3.23 £ 223,129 |
|---|---|---|---|
| 223,129 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 249,382 249,382 |
Resources Movement expended in funds £ £ (237,012) 12,370 (237,012) 12,370 |
Resources Movement expended in funds £ £ (237,012) 12,370 (237,012) 12,370 |
|---|---|---|---|
| 12,370 |
continued...
Page 9
MOUNT ZION 7TH DAY CHURCH OF GOD (UK INTERNATIONAL CONFERENCE)
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023
12. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2023.
Page 10
MOUNT ZION 7TH DAY CHURCH OF GOD (UK INTERNATIONAL CONFERENCE)
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023
| INCOME AND ENDOWMENTS Donations and legacies Tithes, Offerings & Donations HMRC Gift Aid Other income Rent Received Interest Received Refund Total incoming resources EXPENDITURE Raising donations and legacies Water Rates Church Insurance Light and heat Telephone charges Postage,printing & stationery General Running Expenses Hotel & Conferences expenses Other Motor Expenses Social & Youth Expenses Repairs & Renewals Laundry & cleaning Donations Travel, & Coach Hir Flowers & Souvenirs Mortgage Loan Interest Accountancy Charges Depn of musical equipment Depreciation of Fixtures & Fittings Depreciation of computer equipment Total resources expended Net income/(expenditure) |
2023 £ 124,202 16,951 141,153 10,400 63 2,757 13,220 154,373 1,431 4,519 7,093 2,582 4,834 5,527 19,428 45,414 2,938 8,919 54,862 1,278 7,542 6,494 260 2,806 2,035 2,312 2,145 849 92,440 137,854 16,519 |
2022 £ 60,404 13,043 73,447 9,250 4 12,308 21,562 95,009 1,004 4,016 4,418 2,592 4,148 2,406 5,839 24,423 2,934 4,329 41,238 1,863 10,110 5,522 230 3,034 2,035 557 2,524 359 74,735 99,158 (4,149) |
|---|---|---|
This page does not form part of the statutory financial statements
Page 11