Registered Charity No - 1073618
Built on the Rock International Ministries
Trustees’ Report and Accounts 5 April 2023
| 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 2023
Trustees 1. Mrs Navlette McFarlane Sawyer 2. Mr Louis Reid 3. Miss Lesa Toni Greaves 4. Miss Vanessa Brown (Appointed March 2023)
Charity registered Number 1073618
Date of charitable registration 28 January 1999
Principal office 140 Boundary Road Walthamstow London E17 8LA
Secretary Mrs Valerie Marche
Independent examiners Patsy Alexander ACMA MSC ACIE
Bankers Barclays Bank PLC
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TRUSTEES' REPORT
FOR THE YEAR ENDED 5 APRIL 2023
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 International Ministries for the year ended 5 April 2023. The Board of Trustees confirm 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.
Structure, governance and management
The 4 Trustees are:
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Mrs Navlette McFarlane Sawyer
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Mr Louis Reid
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Miss Lesa Toni Greaves
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Miss Vanessa Brown
Governing document:
Built On The Rock International Ministries 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 principal 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.
Public Benefit:
The trustees are of the opinion that they have complied with the duty in Section 4 of the Charities Act 2011 with regard to public benefit guidance published by the Charity Commission.
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TRUSTEES' REPOR
FOR THE YEAR ENDED 5 APRIL 2023
Objectives and activities:
The charity’s mission is to collaborate with individuals, empowering them to realise their potential by being guided by spiritual and life values. In doing so, the charity aims to create a positive impact on both their local and global community.
The charity’s objectives are:
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To progress the teachings and principles of the Christian faith.
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To provide assistance to individuals facing situations of necessity, difficulty or those who are elderly or unwell and to alleviate the associated sufferings caused by these conditions.
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To actively encourage and support other charitable endeavours that contribute to the welfare of the community, both in London and across the wider regions of the United Kingdom.
The main activities comprised of:
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Sunday service open to all
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Christenings, weddings, baptisms and funerals
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Community events including Christmas luncheon for the homeless and members of the community experiencing hardship, film nights, games nights picnic and sports day.
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Hosting a McMillan coffee morning which raised £781.
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Working in partnership with The Hornbeam Hub and Waltham Forest’s network of Community Living Rooms to provide free access to community spaces across the borough where local residents can socialise and make new connections.
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Setting up a joint venture with Morrisons, Chingford, which provided Christmas stockings to children in the community.
Financial review:
The largest contribution to the charity for the year came from general offerings. The charity was required to write of debtors totalling £887,511 which includes £860,000 which they had anticipated receiving from the sale of their previous building on the completion of a new development.
The Charity has set up a designated building fund and will participate in fund raising activities to raise sufficient funds required for building repairs.
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.
Trustees' Responsibilities Statement
The trustees are responsible for preparing the Trustees' Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England and Wales requires the trustees to
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TRUSTEES' REPORT
FOR THE YEAR ENDED 5 APRIL 2023
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:
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select suitable accounting policies and then apply them consistently; observe the methods and principles in the Charities SORP 2019(FRS 102);
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make judgements and estimates that are reasonable and prudent;
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state whether applicable 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 in operation.
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 Charities (Accounts and Reports) Regulations 2008 and the provisions of the trust deed.
They 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.
Statement of disclosure of information to independent examiner
We, as the Trustees of the Charity who held office at the date of approval of these financial statements as set out on page 2 each confirm, so far as we are aware, that:
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There is no relevant information of which the Charity's independent examiner are unaware; and we have
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taken all the steps that we ought to have taken as Trustees in order to make ourselves aware of any relevant information and to establish that the charity's independent examiner are aware of that information.
Independent Examiner:
The Charity's independent examiner, Patsy Alexander ACMA MSCACIE, has indicated her willingness to continue in office and offer themselves for appointment.
This report was approved on 27[th] December 2023 by the Trustees on and signed on their behalf by:
NE. McFarlane-Sawyer
………………………
Navlette McFarlane-Sawyer
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INDEPENDENT EXAMINER`S REPORT FOR THE YEAR ENDED 5 APRIL 2023
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 2023 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
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have not been met; or
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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: PAlexander
Dated: 27[th] December 2023
Patsy Alexander ACMA MSC ACIE
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STATEMENT OF FINANCIAL ACTIVITIES (Incorporating income and expenditure account) FOR THE YEAR ENDED 5 April 2023
| Unrestricted Restricted Total Funds Total Funds 2023 2023 2023 2022 Notes £ £ £ £ Incoming resources 2 General offerings 61,034 790 61,824 68,790 Gift Aid 7,383 - 7,383 8,078 Other Income - - - Total Incoming resources 68,417 790 69,207 76,868 Resources expended 3 Direct charitable expenditure 132,717 - 132,717 146,377 Debtors write off 887,511 887,511 Governance costs 1,200 - 1,200 1,820 Total Resources expended 1,021,428 - 1,021,428 148,197 Movement in total fund for the year- Net income / (expenditure) For the year (953,011) 790 (952,221) (71,329) Net Gain /(Loss) on investment - - - - Fund balance brought forward 3,001,025 - 3,001,025 3,072,354 Fund balance carried forward 2,048,014 790 2,048,804 3,001,025 |
Unrestricted Restricted Total Funds Total Funds 2023 2023 2023 2022 Notes £ £ £ £ Incoming resources 2 General offerings 61,034 790 61,824 68,790 Gift Aid 7,383 - 7,383 8,078 Other Income - - - Total Incoming resources 68,417 790 69,207 76,868 Resources expended 3 Direct charitable expenditure 132,717 - 132,717 146,377 Debtors write off 887,511 887,511 Governance costs 1,200 - 1,200 1,820 Total Resources expended 1,021,428 - 1,021,428 148,197 Movement in total fund for the year- Net income / (expenditure) For the year (953,011) 790 (952,221) (71,329) Net Gain /(Loss) on investment - - - - Fund balance brought forward 3,001,025 - 3,001,025 3,072,354 Fund balance carried forward 2,048,014 790 2,048,804 3,001,025 |
Unrestricted Restricted Total Funds Total Funds 2023 2023 2023 2022 Notes £ £ £ £ Incoming resources 2 General offerings 61,034 790 61,824 68,790 Gift Aid 7,383 - 7,383 8,078 Other Income - - - Total Incoming resources 68,417 790 69,207 76,868 Resources expended 3 Direct charitable expenditure 132,717 - 132,717 146,377 Debtors write off 887,511 887,511 Governance costs 1,200 - 1,200 1,820 Total Resources expended 1,021,428 - 1,021,428 148,197 Movement in total fund for the year- Net income / (expenditure) For the year (953,011) 790 (952,221) (71,329) Net Gain /(Loss) on investment - - - - Fund balance brought forward 3,001,025 - 3,001,025 3,072,354 Fund balance carried forward 2,048,014 790 2,048,804 3,001,025 |
|---|---|---|
| Notes Incoming resources 2 General offerings Gift Aid Other Income Total Incoming resources Resources expended 3 Direct charitable expenditure Debtors write off 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 2023 2023 2023 2022 £ £ £ £ 61,034 790 61,824 68,790 7,383 - 7,383 8,078 - - - |
|
| 68,417 790 69,207 76,868 |
||
| 132,717 - 132,717 146,377 887,511 887,511 1,200 - 1,200 1,820 |
||
| 1,021,428 - 1,021,428 148,197 |
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| (953,011) 790 (952,221) (71,329) - - - - 3,001,025 - 3,001,025 3,072,354 2,048,014 790 2,048,804 3,001,025 |
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BALANCE SHEET
AS AT 5 April 2023
----- Start of picture text -----
2023 2022
Note £ £ £ £
FIXED ASSETS
Tangible assets 2,043,821 2,062,068
CURRENT ASSETS
Debtors - 887,511
Cash at bank 6,183 51,446
6,183 938,957
CREDITORS: amounts falling due within one
1,200 -
year
NET CURRENT ASSETS 4,983 938,957
TOTAL ASSET LESS CURRENT
2,048,804 3,001,025
LIABILITIES
NET ASSETS 2,048,804 3,001,025
CHARITY FUNDS
Unrestricted funds 2,048,014 3,001,025
Restricted funds - -
Designated fund 790
TOTAL FUNDS 2,048,804 3,001,025
----- End of picture text -----
The financial statements were approved on 27[th] December 2023 by the Trustees on and signed on their behalf, by:
NE. McFarlane-Sawyer
………………………
Navlette McFarlane-Sawyer
The notes on pages 9 to 13 form part of these financial statements
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NOTES TO THE FINANCIAL STATEMENT
FOR THE YEAR ENDED 5 APRIL 2023
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[TH] APRIL 2023
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
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2023 2022
£ £
Donations from
61,824 68,790
individuals
Gift Aid 7,383 8,078
Other income - -
Total Income 69,207 76,868
----- End of picture text -----
3. TRUSTEES REMUNERATION & EXPENSES
Mrs Navlette McFarlane Sawyer was employed as Pastor of the church and paid £27,851 for the year ended 5 April 2023 (2022: £27,851)
4. DEBTORS
| Amount falling due within one year: Prepayments & Other Debtors Amounts falling due after more than one year: Amount receivable on property sale |
2022 £ - - - |
2021 £ 27,511 860,000 |
|---|---|---|
| 887,511 |
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NOTES TO THE FINANCIAL STATEMENT
FOR THE YEAR ENDED 5[TH] APRIL 2023
5. CREDITORS
Amount falling due within one year: Accruals Total
| 2023 £ 1,200 1,200 |
2021 £ - |
|---|---|
| - |
6. TANGIBLE FIXED ASSET
| Leasehold Property |
Office & Musical equipment |
Fixtures & Fittings |
Computer Equipment |
Total | |
|---|---|---|---|---|---|
| £ | £ | £ | £ | £ | |
| COST | |||||
| At 6 April 2022 | 1,996,385 | 47,564 | 100,281 | 16,779 | 2,161,009 |
| Additions | - | - | - | - | - |
| Disposal | - | - | - | - | - |
| At 5 April 2023 | 1,996,385 | 47,564 | 100,281 | 16,779 | 2,161,009 |
| DEPRECIATION | |||||
| At 6 April 2022 | - | 44,941 | 38,876 | 15,124 | 98,941 |
| Charge for the year | - | 875 | 16,820 | 552 | 18,247 |
| At 5 April 2023 | - | 45,816 | 55,696 | 15,676 | 117,188 |
| NET BOOK VALUE | |||||
| At 5 April 2023 | 1,996,385 | 1,748 | 44,585 | 1,103 | 2,043,821 |
| At 5 April 2022 | 1,996,385 | 2,623 | 61,405 | 1,655 | 2,062,068 |
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DETAILED INCOME & EXPENDITURE: FOR THE YEAR ENDED 5 APRIL 2023
| INCOME | 2023 | 2022 |
|---|---|---|
| £ | £ | |
| Donations and legacies | ||
| General donations | 61,824 | 68,790 |
| Gift Aid | 7,838 | 8,078 |
| Total incoming resources | 69,207 | 76,868 |
| EXPENDITURE: | ||
| Support costs: | ||
| Wages | 47,111 | 51,415 |
| Pension | 6,540 | |
| Water rates | 209 | 211 |
| Insurance | 2,995 | 2,556 |
| Light and heat | 5,041 | 8,870 |
| Telephone | 2,460 | 3,166 |
| Printing, postage and stationery | 3,204 | 3,707 |
| Advertising | - | 525 |
| Computer and internet | 1,224 | 2,135 |
| Equipment maintenance | 1,480 | 4,059 |
| Equipment leasing and hire | 4,441 | 8,589 |
| Repairs | 4,247 | 14,238 |
| Musicians | 13,925 | - |
| Travelling and parking permits | 231 | 3,123 |
| Subsistence | 6,360 | 2,100 |
| Cleaning and waste disposal | 7,697 | 5,337 |
| Licenses | 159 | 159 |
| Subscriptions | 319 | 750 |
| Sundry expenses | 998 | 1,779 |
| Loan repayments | 13620 | |
| HR & Secretarial services | 3,283 | 1,280 |
| 111,924 | 127,619 | |
| Finance | ||
| Bank charges | 147 | 511 |
| 147 | 511 |
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DETAILED INCOME & EXPENDITURE (Continued) FOR THE YEAR ENDED 5 APRIL 2023
| Other Depreciation of fixtures & fittings Depreciation of office and musical equipment Depreciation of computer equipment Governance costs Accountancy and payroll Legal fees Total resource expended Net income/(expenditure) |
16,820 875 552 18,247 1,200 2,399 3,599 133,917 -92,409 |
16,820 875 552 |
|---|---|---|
| 18,247 1,820 - |
||
| 1,820 148,197 |
||
| -35,180 |
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