Registered Charity No - 1073618
Built on the Rock International Ministries
Trustees’ Report and Accounts 5 April 2021
| CONTENTS | PAGE |
|---|---|
| Legal and Administrative Details | 2 |
| Trustees' Report | 3 |
| Independent Examiners’ Report | 6 |
| Statement of Financial Activities | 7 |
| Balance Sheet | 8 |
| Notes to the Accounts | 9 |
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REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 5 APRIL 2021
Trustees 1. Dr Harold Carl McFarlane 2. Mr Louis Reid 3. Mrs Navlette McFarlane-Sawyer
Charity registered Number 1073618
Date of charitable registration 28 January 1999
Principal office 140 Boundary Road Walthamstow London E17 8LA
Secretary Rev Angela McFarlane
Independent examiners Patsy Alexander ACMA MSC C/O -GoodtoGive
Bankers Barclays Bank PLC
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TRUSTEES' REPORT
FOR THE YEAR ENDED 5 APRIL 2021
The Board of Trustees, who are the trustees for charity law purposes, submit their annual report and the financial statements of Built on the rock for the year ended 5 April 2021. The Board of Trustees confirms that the annual report and financial statements of the Charity comply with current statutory requirements, the requirements of the Charity's governing document and the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities (revised 2005)'.
Structure, governance and management
The 3 Trustees are:
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Dr Harold Carl Mcfarlane
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Mr Louis Reid
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Mrs Navlette McFarlane-Sawyer
The Trustees play a primary role in ensuring good governance and functioning of the foundation. The Board’s role, functions and responsibilities are quite clearly defined.
The Charity currently has a strong team of Advisory board members in the UK who have helped to secure financial support and contribute to the future planning of the organisation.
Governing document:
Built on the rock is an unincorporated charitable organisation formed on 17 February 1998 and registered as a charity on 28 January 1999. The charity is governed by a declaration of trust dated 17 February 1998 and amended by a deed dated 5 December 2014.
Recruitment and appointment of trustees:
The members of the General Trustee Board are trustees for the purposes of charity law. New trustees may be appointed by resolution of a meeting of the trustees.
Much of the charity's work focuses upon the promotion of the Christian religion and the running and maintenance of its places of worship.
The General Trustee Board seeks to ensure that the needs of this group are appropriately reflected through the diversity of the trustee body. To enhance the potential pool of trustees, the charity has, through selective advertising and networking with voluntary organizations active in the sector, sought to identify those who would be willing to become members of the charity and use their own experience to assist the charity.
Risk Management:
We are committed to a policy of identifying, monitoring and managing the risks that might adversely affect the activities in which we are involved. In this context, risk is defined as the potential to fail to achieve charity objectives and for loss, financial and reputational, inherent in the environment in which we operate in the nature of the transactions undertaken.
The principle risk of the charity has been its dependence on voluntary income. Trustees have initiated various processes to mitigate such risk, so that the charity has sufficient reserve in the event of adverse condition(s).
The trustees have also examined other operational and business risks which they face and confirm that they have taken steps to mitigate the significant risks.
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TRUSTEES' REPORT
FOR THE YEAR ENDED 5 APRIL 2021
Public Benefit:
The Trustees have complied with the duty in Section 4 of the Charities Act 2006 and have paid due regard to public benefit when preparing this report. The benefit provided to the public is consistent with the aims of the charity in UK.
Objectives and activities:
To advance the Christian faith in accordance with the statements of beliefs appearing in the schedule hereto in London and in such other parts of the United Kingdom or the world as the trustees may from time to time think fit.
To relieve persons who are in conditions of need or hardship or who are aged or sick and to relieve the distress caused thereby in London and in such other parts of the United Kingdom or the world as the trustees may from time to time think fit.
To promote and fulfil such other charitable purposes beneficial to the community in London and in such other parts of the United Kingdom or the world as the trustees may from time to time think fit.
Financial review:
The largest contribution to the charity for the year came from general offerings. The charity has begun its charitable activities from April 2014.
The Charity currently aims to designate the total fund received less expenses for the main objective of the charity.
Plans for future periods:
The Charity plans to develop various fundraising strategies to include community outreach. Besides community outreach and events, the charity is aiming to achieve its targets through securing donations from willing individuals. A development board may be created to help include other avenues of fundraising to be included in the yearly programme.
Statement of Board of Trustees’ responsibilities
The Board of Trustees are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice.
Charity law applicable to charities in England/Wales requires the Board of Trustees to prepare financial statements for each financial year which gives a true and fair view of the state of affairs of the Charity and of the surplus or deficit of the Charity for that period. In preparing those financial statements the Board of Trustees have:
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Selected suitable accounting policies and applied them consistently,
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Made judgments and estimates that are reasonable and prudent,
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Stated whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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Prepared the financial statements on a going concern basis (unless it is inappropriate to presume that the Charity will continue in operation).
The Board of Trustees has overall responsibility for ensuring that the Charity has an appropriate system of controls, financial and otherwise. They are also responsible for keeping proper accounting records which 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 1993. They are also responsible for safeguarding the
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TRIISTEES. REPORT FOR TIIE I'EAR INDLDIAPAIL2021 assets of the CTharity and hence for thkln8 re050noble steps for the detecilon And prevenilon of fraud Ind h¢r ITre8ulariiie& The Bourd of TnJsiee515 Rsponslble for the malnlenpn¢¢ •Thl Inte8rity of th¢ colra* and fin8nclal infomiaiion. LeB1514ilon lft the Unlicd Kingdom governin8 the preporailon Bnd dixscmin8lion of financial sthternents may dlffer from le813141Son in oiherJurisdi¢ilonJ, seMen1 ofdisclosure of Infomi•ilon io ind¢pend¢nt ¢x•rniner W¢. &% ih¢ Trumees ofthe Chariiy who held otTi¢¢ 01 ihe dale of approvAI of these ilnancial stsi¢ments as oul Pa8e 2 each confirni, so f•r are Aware, Ihat.. There is no relevonl Informution of which the Chhrity's independent exAminer Hre unaware. and we hatr¢ thken all the step$ thAI we OUBhi th have thken as Tn ¢0 m•ke ours¢lves aware of my rel¢vani infonnation and lo ¢$tablish that the charity's Independent examln¢r is •w•r¢ of thai Infom?thion. lThdeptMdeni Ex•mlTrer: The Charit) s indep¢nd¢nt exominer, Palsy Alexander ACMA MSC Clo GO lo Glve LTD. Indicated iheir illin8ntss io ¢oniinu¢ in ofTice llnd offer Ih¢ms¢lv¢$ for Hppoinlment. Thls fVKJn was prOved by ih¢ Trusl¢e5 on and signed on Ih¢ir beholf by: 51Pa8e
INDEPENDENT EXAMINER`S REPORT FOR THE YEAR ENDED 5 APRIL 2021
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BUILT ON THE ROCK
I report on the financial statements of the charity for the year ended 5 April 2021 which comprise the Statement of Financial Activities and Balance Sheet with associate notes.
This report is made solely to the charity's Trustees, as a body, in accordance with section 145 of the Charities Act 2011 and regulations made under section 154 of that Act. My work has been undertaken so that I might state to the charity's Trustees those matters I am required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's Trustees as a body, for my examination work.
RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER
The charity's Trustees are responsible for the preparation of the financial statements, and they consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the Act) and that an independent examination is needed.
It is my responsibility to:
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Examine the accounts (under Section 145 of the Charities Act);
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To follow the procedures laid down in the General Directions given by the Charity Commissioners (under Section 145(5)(b) of the Charities Act); and
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To state whether particular matters have come to my attention.
Basis of Independent Examiner's report
My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the Group/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 statement 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 section 130 of the Act; and
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to prepare financial statements which accord with the accounting records and comply with the accounting requirements of the Act
have not been met; or
- 2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached.
Signed: Dated: 21/03/2022 Patsy Alexander ACMA MSC
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STATEMENT OF FINANCIAL ACTIVITIES (Incorporating income and expenditure account) FOR THE YEAR ENDED 5 APRIL 2021
| Unrestricted Restricted Total Funds Total Funds 2021 2021 2021 2020 Notes £ £ £ £ Incoming resources 2 General offerings 59,165 - 59.165 93,751 Gift Aid 1,727 - 1,727 11,860 Other Income - - 40 Total Incoming resources 60,892 - 60,892 105,651 Resources expended 3 Direct charitable expenditure 151,481 - 151,481 139,011 Governance costs 1,820 - 1,820 1,820 Total Resources expended 153,301 - 153,301 140,831 Movement in total fund for the year- Net income / (expenditure) For the year (92,409) - (92,409) (35,180) Net Gain /(Loss) on investment - - - - Fund balance brought forward 3,164,763 - 3,164,763 3,199,943 Fund balance carried forward 3,072,354 - 3,072,354 3,164,763 |
Unrestricted Restricted Total Funds Total Funds 2021 2021 2021 2020 Notes £ £ £ £ Incoming resources 2 General offerings 59,165 - 59.165 93,751 Gift Aid 1,727 - 1,727 11,860 Other Income - - 40 Total Incoming resources 60,892 - 60,892 105,651 Resources expended 3 Direct charitable expenditure 151,481 - 151,481 139,011 Governance costs 1,820 - 1,820 1,820 Total Resources expended 153,301 - 153,301 140,831 Movement in total fund for the year- Net income / (expenditure) For the year (92,409) - (92,409) (35,180) Net Gain /(Loss) on investment - - - - Fund balance brought forward 3,164,763 - 3,164,763 3,199,943 Fund balance carried forward 3,072,354 - 3,072,354 3,164,763 |
Unrestricted Restricted Total Funds Total Funds 2021 2021 2021 2020 Notes £ £ £ £ Incoming resources 2 General offerings 59,165 - 59.165 93,751 Gift Aid 1,727 - 1,727 11,860 Other Income - - 40 Total Incoming resources 60,892 - 60,892 105,651 Resources expended 3 Direct charitable expenditure 151,481 - 151,481 139,011 Governance costs 1,820 - 1,820 1,820 Total Resources expended 153,301 - 153,301 140,831 Movement in total fund for the year- Net income / (expenditure) For the year (92,409) - (92,409) (35,180) Net Gain /(Loss) on investment - - - - Fund balance brought forward 3,164,763 - 3,164,763 3,199,943 Fund balance carried forward 3,072,354 - 3,072,354 3,164,763 |
|---|---|---|
| Notes Incoming resources 2 General offerings Gift Aid Other Income Total Incoming resources Resources expended 3 Direct charitable expenditure Governance costs Total Resources expended Movement in total fund for the year- Net income / (expenditure) For the year Net Gain /(Loss) on investment Fund balance brought forward Fund balance carried forward |
Unrestricted Restricted Total Funds Total Funds 2021 2021 2021 2020 £ £ £ £ 59,165 - 59.165 93,751 1,727 - 1,727 11,860 - - 40 |
|
| 60,892 - 60,892 105,651 |
||
| 151,481 - 151,481 139,011 1,820 - 1,820 1,820 |
||
| 153,301 - 153,301 140,831 |
||
| (92,409) - (92,409) (35,180) - - - - 3,164,763 - 3,164,763 3,199,943 3,072,354 - 3,072,354 3,164,763 |
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BALANCE SIIEET ASAT5APRIL2021 2021 Nu 2020 FI.IED ASSETS Tn8tTr•l¢ CIIHRF.NT ASSI:TS 2JW19 1.998.123 890th09 171.716 Ch b•nk 819.329 277.695 1.107.024 CRI.DITnRS: amounts rlin8 duc wiihin o )rw 384 ETCIIRRL%I T ASSFTS 1.066J24 1.166.640 TOTAL ASSET I.KSS CiIRREPiT LI.4BILITIES 372J1 3,IfA.76J ET ASSF.TS 3.164.763 CIIARITI, FIIYDS upffr1ed rd$ Reitriaed funds JJ72JV 3.164.763 T()TAI. FIINDS 3.072J14 3.ItA.763 The financlal tInen[S ¢r¢ opproved b) Ihe Trusiecs on and $18ned on thLir behrllf. by.. The notes on pJ8es 9 10 13 forni pthrt of ihe$e financial slal¢menls
NOTES TO THE FINANCIAL STATEMENT FOR THE YEAR ENDED 5 APRIL 2021
1. ACCOUNTING POLICIES
1.1 Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008). The financial statements have been prepared in accordance with the Statement of Recommended Practice (SORP), 'Accounting and Reporting by Charities' published in March 2005 and applicable accounting standards.
1.2
Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
1.3
Incoming resources
All incoming resources are included in the Statement of financial activities when the charity has entitlement to the funds, certainty of receipt and the amount can be measured with sufficient reliability.
Donated services or facilities, which comprise donated services, are included in income at a valuation which is an estimate of the financial cost borne by the donor where such a cost is quantifiable and measurable. No income is recognised where there is no financial cost borne by a third party.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
1.4
Resources expended
Expenditure is accounted for on an accruals basis and has been included under expense categories that aggregate all costs for allocation to activities. Where costs cannot be directly attributed to particular activities, they have been allocated on a basis consistent with the use of the resources.
Fundraising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities. Support costs are those costs incurred directly in support of expenditure on the objects of the charity and include project management carried out at Headquarters. Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.
Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the yearend are noted as a commitment, but not accrued as expenditure.
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NOTES TO THE FINANCIAL STATEMENT
FOR THE YEAR ENDED 5 APRIL 2021
1.5 Tangible Fixed Asset
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Office and musical equipment 20% on cost
Fixtures and fittings 20% on cost
2. VOLUNTARY INCOME
----- Start of picture text -----
2021 2020
£ £
Donations from
59,165 93,951
individuals
Gift Aid 1,727 11,860
Other income - 40
Total Income 60,892 105,651
----- End of picture text -----
3. TRUSTEES EXPENSES
There were no Trustee expenses paid for the year ended 5 April 2021 and none paid in 2020.
4. DEBTORS
| Amount falling due within one year: Prepayments & Other Debtors Amounts falling due after more than one year: Amount receivable on property sale |
2021 £ 30,609 860,000 890,609 |
2020 £ 29,329 860,000 |
|---|---|---|
| 889,329 |
5. CREDITORS
| Amount falling due within one year: Taxation and social security Total |
2021 £ - - |
2020 £ 384 |
|---|---|---|
| 384 |
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NOTES TO THE FINANCIAL STATEMENT
FOR THE YEAR ENDED 5 APRIL 2021
6. TANGIBLE FIXED ASSET
| Leasehold | Office & | Fixtures & | ||
|---|---|---|---|---|
| Property | Musical equipment |
Fittings | Total | |
| £ | £ | £ | £ | |
| COST | ||||
| At 6 April 2020 | 1,996,385 | 43,191 | 21,071 | 2,060,647 |
| Additions | - | 4,373 | 4,924 | 9,297 |
| Disposal | - | - | - | - |
| At 5 April 2021 | 1,996,385 | 47,564 | 25,995 | 2,069,944 |
| DEPRECIATION | ||||
| At 6 April 2020 | 43,191 | 20,093 | 63,284 | |
| - | ||||
| Charge for the year | - | 875 | 1,963 | 2,838 |
| At 5 April 2021 | - | 44,066 |
22,056 | 66,162 |
| NET BOOK | ||||
| VALUE | ||||
| At 5 April 2021 | 1,996,385 | 3,498 | 3,939 | 2,003,822 |
| At 5 April 2020 | 1,996,385 | - | 978 | 1,997,363 |
| Motor Vehicle | Computer Equipment |
Total | ||
| £ | £ | £ | ||
| COST | ||||
| At 6 April 2020 | 4,400 | 14,020 | 18,420 | |
| Additions | - | 2,759 | 2,759 | |
| Disposal | - | - | - | |
| At 5 April 2021 | 4,400 | 16,779 | 21,179 | |
| DEPRECIATION | ||||
| At 6 April 2020 | 3,640 | 14,020 | 17,660 | |
| Charge for the year | 760 | 552 | 1,312 | |
| At 5 April 2021 | 4,400 | 14,020 | 18,972 | |
| NET BOOK | ||||
| VALUE | ||||
| At 5 April 2021 | - | 2,207 | 2,207 | |
| At 5 April 2020 | 760 | - | 760 |
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DETAILED PROFIT & LOSS ACCOUNT: YEAR ENDED 5 APRIL 2021
| INCOME & EXPENDITURE Donations and legacies General donations Gift Aid Investment income Investment Income Total incoming resources |
2021 £ 59,65 1,727 - 60,892 |
2020 £ 93,751 11,860 40 |
|---|---|---|
| 105,651 |
| EXPENDITURE: Support costs: Wages Water rates Insurance Light and heat Telephone Printing, postage and stationery Advertising Computer and internet Equipment maintenance Equipment leasing and hire Repairs Travelling and parking permits Subsistence Cleaning and waste disposal Licenses Subscriptions Sundry expenses Loan repayments Carried forward |
51,415 924 3,909 8,540 5,001 1,954 525 2,186 1,780 8,714 13,171 2,681 2,750 5,237 155 742 1,616 33,573 144,873 |
60,100 1,881 3,374 9,636 4,835 1,393 408 2,238 1,780 9,057 21,826 5,724 2,225 4,516 155 360 1,607 0 |
|---|---|---|
| 131,122 |
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DETAILED PROFIT & LOSS ACCOUNT: YEAR ENDED 5 APRIL 2021
| Brought forward Secretarial services Finance Bank charges Other Depreciation of fixtures & fittings Depreciation of office and musical equipment Depreciation of motor vehicles Depreciation of computer equipment Governance costs Accountancy and payroll Legal fees Total resource expended Net expenditure before gains and losses Realised recognised gains and losses Realised gains/(losses) on investment property Net income/(expenditure) |
144,873 1,280 |
131,122 |
|---|---|---|
| 1,280 | ||
| 132,402 1,178 1,178 1,963 875 760 552 4,150 1,820 - |
124,777 1,515 |
|
| 1,515 | ||
| 4,214 - 880 - |
||
| 5,094 | ||
| 1,820 - |
||
| 1,820 153,301 (92,409) 0 (92,409) |
1,820 | |
| 140.831 | ||
| (35,180) 0 |
||
| (35,180) |
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