THE STONE CHURCH, LONDON FINANCIAL REPORT
FOR THE YEAR ENDED 31ST MARCH 2025
Charity Number: 1066029
THE STONE CHURCH LONDON FINANCIAL REPORT
FOR THE YEAR ENDED 31ST MARCH 2025
Our Vision:
“Revealing Jesus as The Stone”
Daniel 2:34:35
| Contents | Page |
|---|---|
| Charity Information | 1 |
| Trustees’ Report | 2-5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 |
| Notes to the Accounts | 8-12 |
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THE STONE CHURCH LONDON
CHARITY INFORMATION
| Trustees | V Amosun | Reverend (Chairman) | Reverend (Chairman) |
|---|---|---|---|
| A Adegboye | Pastor | ||
| Y Olowoyo | Reverend | ||
| A Adelaja | Minister | ||
| E Olumewo | Pastor | ||
| Secretary | Adewale Adelaja | Minister | |
| Church Pastor | Ephraim Olumewo | Pastor | |
| Charity Commission Number | 1066029 | ||
| Registered Address | 4 Fleming Way | ||
| Thamesmead | |||
| London. SE28 8NR | |||
| Church Worship Address | 77 – 79 Rushey Green | ||
| Catford | |||
| SE6 4AF | |||
| Bankers | Natwest Bank |
Page 1
THE STONE CHURCH LONDON
TRUSTEES’ REPORT FOR THE YEAR ENDED 31ST MARCH 2025
The trustees (under the Charities Act) submit their report and accounts for the year ended 31st March 2025 which have been prepared in accordance with the Statement of Recommended Practice “Accounting and Reporting by Charities” of January 2015 (The FRSSE).
Structure, Governance and Management
Governing Document
The Charity operates as an independent charitable entity.
The governing and sovereign decision-making body is the Board of Trustees.
The Stone Church London is a financial member of ‘Churches In Community’ (established for the advancement of the Christian faith and the promotion of the moral and spiritual welfare of the general public, and in particular to further the faith and mission of Jesus Christ and the way of life whose character is church community).
Appointment of Trustees
Trustees are appointed by the Board of Trustees for a term of three years based on personal interest and commitment to the mission of the church and the charity’s need for skills & experience. Retiring trustees may present themselves for re-election.
Trustees Induction and Training
New trustees undergo orientation and training to facilitate the undertaking of their role and acquaint them with their statutory and legal obligations under the Charity Commission regulations and the Church’s spirituality and decision-making processes.
Organisation Structure
The trustees of the charity who served during the year are shown on Page 1.
Objectives and Activities
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We teach and train members to live an exemplary life reflecting the life of our Saviour & Lord Jesus Christ.
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We seek to alleviate suffering not only of members but needy residents in the wider community by participating in the Premier Radio Initiative of Feed the Hungry.
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We also support giving of financial aid to countries facing hardships as a result of natural disasters.
The strategies employed to achieve the charity’s objectives are:
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Preach the gospel of Jesus Christ and educate people and communities in the WORD of God through meetings, studies, and Sunday/mid-week services.
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Teach members the doctrines of the Church.
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Carry out seminars and conferences on how poverty can be alleviated.
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Carry out enlightenment programs and teachings on how to live healthy.
Significant Activities
The Church currently holds hybrid services both onsite and online.
It makes grants to similar charity organisations where Jesus Christ is recognized as the Lord and Saviour of mankind.
Activities include the provision of advice, information and organizing events to raise awareness of the Christian faith including the regular distribution of tracts reflecting the Gospel Message of Jesus Christ. The church continues to minister fruitfully to the spiritual, physical, and material needs of different kinds of people within the church and the community at large.
Page 2
TRUSTEES’ REPORT FOR THE YEAR ENDED 31ST MARCH 2025
THE STONE CHURCH LONDON
Risk Management
The Trustees have a risk management strategy which includes:
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An annual review of the financial and non-financial risks the Church may face.
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The establishment of systems and procedures to mitigate those risks identified; and
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The implementation of procedures designed to minimise any potential impact on the church should those risks materialise.
Achievements and Performance
Charitable Activities and Achievements
The church continues annually to provide foods to the nearest Food Bank.
The Stone Church through the Premier Christian Radio regularly gives financial help to countries all over the word that have been impacted by natural disasters.
The church has been fully supportive to the community, the congregation, and church services attendees at large.
Our services impact positively on the congregation about the faith in the Lord Jesus Christ, and the continued experience of salvation and maturity in their Christian faith.
Financial Review
Financial Performance
Total Incoming Resources in the year 2025 was £55,784 (2024: £37,758).
The principal funding sources in the year continued to be the voluntary collections from church members. Total Resources Expended was £40,746 all of which was unrestricted (2024: £32,910). The year’s net result was income of £15,038 (2024: £4,848).
There was no capital expenditure in the year.
Plans for future periods
Aims and Objectives
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Continue and build upon our spiritual gains.
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Identify and carry out target audience evangelism (e.g. street/night evangelism) to win souls to Christ.
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Focus on Kingdom evangelism/training/spiritual education to increase the church congregation in number and in the spirit.
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THE STONE CHURCH LONDON
TRUSTEES’ REPORT
FOR THE YEAR ENDED 31ST MARCH 2025
Trustees’ Responsibilities in relation to the financial statements
The Trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and regulations.
Charity Commission regulation requires the Trustees to prepare financial statements for each financial year. The Trustees prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). The Trustees will not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the income and expenditure of the charity for that period. In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue its operations.
The Trustees are responsible for keeping proper accounting records which are sufficient to show and explain the charity’s transactions and 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 Charity Commission regulations. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention of fraud and other irregularities.
Approval
This report was approved by the Board of Trustees and signed on its behalf by one of the trustees.
28[th ] January 2026
E OLUMEWO TRUSTEE
Page 4
THE STONE CHURCH LONDON
INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF THE STONE CHURCH LONDON FOR THE YEAR ENDED 31ST MARCH 2025
I report on the accounts of the charity for the year ended 31[st] March 2025, which are set out on pages 6 to 12.
Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under Section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is required.
The charity has prepared its accounts on cash (receipts & payments basis) and I am qualified to undertake the examination by being a UK Charity-Company Finance Director for seventeen years.
Having satisfied myself that the charity is not subject to audit under the Charities Act 2011 and is eligible for independent examination, it is my responsibility to:
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examine the accounts under Section 145 of the 2011 Act
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follow the procedures laid down in the General Directions given by the Charity Commission under Section 145(5)(b) of the 2011 Act, and
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state whether particular matters have come to my attention.
Basis of the independent examiner's report
My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair view ' and the report is limited to those matters set out in the statements below.
Independent examiner's statement
In connection with my examination, no matter has come to my attention:
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(1) which gives me reasonable cause to believe that, in any material respect, the requirements
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to keep accounting records in accordance with Charity Commission regulations; and
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to prepare accounts which accord with the accounting records, comply with the accounting requirements of Charity Commission regulations and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities
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(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Adesina Adesanya 118 Shaftesbury Road Carshalton. Surrey. SM5 1HL
Date: 28[th] January 2026
Page 5
THE STONE CHURCH LONDON
STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE) FOR THE YEAR ENDED 31ST MARCH 2025
| Unrestricted Restricted Funds Funds Note £ £ Income from: Donations 2 48,655 - Other voluntary income 37,129 - Total income 55,784 - Expenditure on: Donations to registered charities 4 8,788 - Direct Parish Expenditure 5 31,958 - Training & Education 6 - - Governance Costs 7 - - Total expenditure 40,746 - Net income/(expenditure) for the year 15,038 - Transfers between funds - - 15,038 - Unrealised gain/(loss) on investments - - Net movement in funds 15,038 - Funds brought forward at 1st April 2024 5,746 - Funds carried forward at 31st March 2025 20,784 - |
Total Funds 2025 £ 48,655 7,129 55,784 8,788 31,958 - - 40,746 15,038 - 15,038 - 15,038 5,746 20,784 |
Total Funds 2024 £ 31,347 6,411 37,758 8,775 23,995 140 - 32,910 4,848 - 4,848 - 4,848 898 5,746 |
|---|---|---|
The Statement of Financial Activities includes all gains and losses in the year. There were no recognised gains or losses other than those shown above. All incomes and expenditure derive from continuing activities.
The Net Income for the period was £15,038
There were no acquisitions or discontinued operations in the period.
Page 6
THE STONE CHURCH LONDON
| BALANCE SHEET | |||
|---|---|---|---|
| AS AT 31ST MARCH 2025 | Charity Number 1066029 | ||
| 2025 | 2024 | ||
| Note | Note £ |
£ | |
| Fixed Assets | |||
| Tangible | 9 | - | - |
| - | - | ||
| Current Assets | |||
| Debtors | 10 | 12,250 | - |
| Cash at bank and in hand | 8,534 | 5,746 | |
| 20,784 | 5,746 | ||
| Creditors: Amounts falling due within one year 11 | : Amounts falling due within one year 11 | : Amounts falling due within one year 11 - |
- |
| Net Current Assets | 20,784 | 5,746 | |
| Total Assets less Current Liabilities | 20,784 | 5,746 | |
| Creditors: Amounts falling due | |||
| after one year | 12 | - | - |
| Net Assets | 13 | 20,784 | 5,746 |
| Funds | |||
| Unrestricted – general | 14 | 20,784 | 5,746 |
| Restricted | 15 | - |
- |
| Total Funds | 20,784 | 5,746 |
The trustees acknowledge their responsibility for complying with the requirements of the Charity Commission with respect to accounting records and for the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to the regulations and were approved by the Trustees and signed on their behalf by:
A ADELAJA TRUSTEE
E OLUMEWO TRUSTEE
28[th] January 2026 28[th] January 2026
Page 7
THE STONE CHURCH LONDON
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025
1 ACCOUNTING POLICIES
1.1 Accounting convention
The financial statements have been prepared in accordance with the Charities Statement of Recommended Practice (Charities FRSSE SORP 2015). The financial statements are drawn up on the historical cost basis of accounting, as modified by the revaluation of investment properties and other investments. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary accounts in these financial statements are rounded to the nearest £.
1.2 Tangible fixed assets and depreciation
- Tangible fixed assets are stated at cost or trustees’ estimate of market value less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives at the following rates:
Office Equipment/Computers 33.3% Furniture & Fittings 33.3%
This is deemed to be a more accurate assessment of the useful lives of those items. Only tangible fixed assets over £500 are capitalised.
1.6 Income
Voluntary income and donations are accounted for when received by the charity.
1.7 Fund accounting
Funds held by the charity are:
Unrestricted general funds – These are funds which can be used in accordance with the charity’s objects at the discretion of the trustees.
Restricted funds – These can only be used for purposes of the charity for which they have been specifically raised.
| 2 DONATIONS RECEIVED Unrestricted Restricted Funds Funds £ £ Tithes and Main Offerings 48,655 - 3 OTHER VOLUNTARY INCOME Unrestricted Restricted Funds Funds £ £ Gift Aid reclaim 7,129 - Other Donations - - 7,129 - |
2025 Total £ 48,655 2025 Total £ 7,129 - 7,129 |
2024 Total £ 31,347 2024 Total £ 6,411 - 6,411 |
|---|---|---|
Page 8
THE STONE CHURCH LONDON
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025 (continued)
| 4 DONATIONS TO REGISTERED CHARITIES Unrestricted Restricted Funds Funds £ £ Charities and Food Banks 31 - First Fruits & Tithes 8,757 - 8,788 - 5 DIRECT PARISH EXPENDITURE Unrestricted Restricted Funds Funds £ £ Ministry: Honorarium, gifts & widows support 2,250 - Welfare, Donations, Contributions & Dues 762 - Church running costs: Hall hire, maintenance & church services 11,414 - Printing, photocopying, stationeries, postages 1,418 - Conferences, meetings, church events 7,419 - Computers/Equipment Maintenance & Repairs 859 - Broadband & Phone Data 919 - Digital Licence costs 1,283 - Storage fees 1,117 - Membership Subscriptions 360 - Advertisement & Media 991 - Overseas travelling 2,916 - Professional fees 250 - Minor Assets - - 31,958 - 6 TRAINING & EDUCATION Unrestricted Restricted Funds Funds £ £ Training/education conferences & seminars - - 7 GOVERNANCE COSTS Unrestricted Restricted Funds Funds £ £ Accountancy/Statutory Returns filing - - |
2025 Total £ 31 8,757 8,788 2025 Total £ 2,250 762 11,414 1,418 7,419 859 919 1,283 1,117 360 991 2,916 250 - 31,958 2025 Total £ - 2025 Total £ - |
2024 Total £ 5,899 2,876 8,775 2024 Total £ 3,054 3,256 5,639 1,175 6,046 591 544 1,032 1,157 325 444 - - 731 23,995 2024 Total £ 140 2024 Total £ - |
|---|---|---|
8 TRUSTEES REMUNERATION
Page 9
The trustees are not remunerated, and nothing was paid to any trustee in whatever form in the year.
THE STONE CHURCH LONDON
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025 (continued)
| 9 TANGIBLE FIXED ASSETS Office Equip/ Furniture Computers & Fittings £ £ Cost At 1st April 2024 - - Additions - - Disposals - - At 31st March 2025 - - Depreciation At 1st April 2024 - - Charge for the year - - Disposals - - At 31st March 2025 - - Net book value At 31st March 2025 - - At 31st March 2024 - - 10 DEBTORS Debtors 11 CREDITORS:Amounts falling due within one year 12 CREDITORS:Amounts falling due after one year |
Total £ - - - - - - - - - - |
2025 £ 12,250 2025 £ - 2025 £ - |
2024 £ - |
|---|---|---|---|
| 2024 £ - |
|||
| 2024 £ - |
| 13 NET ASSETS Fixed Net Current Long-term Assets Assets Liabilities £ £ £ Unrestricted funds - 20,784 - Restricted funds - - - - 20,784 - |
2025 Total £ 20,784 - 20,784 |
|---|---|
Page 10
THE STONE CHURCH LONDON
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025 (continued)
| Fixed | Net Current | Long-term | 2024 | |||
|---|---|---|---|---|---|---|
| Assets | Assets | Liabilities | Total | |||
| £ | £ | £ | £ | |||
| Unrestricted funds | - | 5,746 | - | 5,746 | ||
| Restricted funds | - | - | - | - | ||
| - | 5,746 | - | 5,746 |
14 UNRESTRICTED FUNDS
| Transfers from/(to) | Transfers from/(to) | Transfers from/(to) | |||
|---|---|---|---|---|---|
| Balance at | Incoming | Resources | Restricted | Balance at | |
| 01.04.24 | Resources | Expended | Funds | 31.03.25 | |
| £ | £ | £ | £ | £ | |
| General | 5,746 | 55,784 | (40,746) | - | 20,784 |
| Transfers from/(to) | Transfers from/(to) | Transfers from/(to) | ||||
|---|---|---|---|---|---|---|
| Balance at | Incoming | Resources | Restricted | Balance at | ||
| 01.04.23 | Resources | Expended | Funds | 31.03.24 | ||
| £ | £ | £ | £ | £ | ||
| General | 898 | 37,758 | (32,910) | - | 5,746 | |
| 15 | RESTRICTED FUNDS | Transfers from/(to) | ||||
| Balance at | Incoming | Resources | Unrestricted | Balance at | ||
| 01.04.24 | Resources | Expended | General | 31.03.25 | ||
| £ | £ | £ | £ | £ | ||
| - | - | - | - | - | ||
| RESTRICTED FUNDS | Transfers from/(to) | |||||
| Balance at | Incoming | Resources | Unrestricted | Balance at | ||
| 01.04.23 | Resources | Expended | General | 31.03.24 | ||
| £ | £ | £ | £ | £ | ||
| - | - | - | - | - |
Page 11
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025 (continued)
THE STONE CHURCH LONDON
16 FINANCIAL COMMITMENTS
The total future minimum lease payments under non-cancellable operating leases are payable:
| Within one year After one year but within five years The operating lease charges for the year were: Hire of plant and machinery Property |
2025 £ - - - - - - |
2024 £ - - - - - - |
|---|---|---|
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