House On The Rock International Church {Bermondsey) TRUSTEES REPORTFOR THE YEAR ENDED 31ST DECEMBER 2023. Introductlon: The Trustees present thelr annual report and accounts for the year ended 315t December 2023. The board of trustees are sat15fied with the performance of the church during the year and the position as of 31# December 2023 and conslder that the church is In a strong positlon to continue to fulfil Its obligations. Reference and Adminlstrative Inforniation: CHARrrY NUMBER 1078085 TRUSTEES AT 319f DECEMBER 2020 Rev Irene O. Oyebade Rev Tunde Ogedengbe Pastor Margaret Bankole Mlnister Gbemisola A. Odusanwo Pastor Gldeon Odartey Lamptey Mr Peter Beckley BOARD'S SECRETARY Mr. James Odogwu-okonyia Revd. Irene O. Oyebade SENIOR PASTOR GOVERNING DOCUMENT Declaratlon of Trust Deed dated 7th July 1999 and the supplement deed date 15th October 1999. OBJEcrs (a) The Advanrnent of Christianlty and (b) The Relief of Need; Hardshlp. Distress; Age or Sickness. LEGAL FORM A Charltable Trust - An Unlncorporated Charity. CORRESPONDENCE ADDRESS Block B, Suite BIO2. The Biscult Factory Business Complex DNmmond Road, Bermondsey, London SE16 4DG. .BANKERS Bank of Scotland, 600 George Road, Edinburgh, EHII 3XP. TSB PLC 76 Rye Lon¢, Pkbarn, IA)ndoll, SEI 5 5DQ AUDrroRS Christ Atklns Services Ltd. Office 310, AcsS Self Storage Unit l Merldian Trading Estate 20 Bugby's Way London SE7 75F.
STRucfuRE. GOVERNANCE AND MANAGEMENT The Trustees of House On The Rock Internatlonal Church-HOTRIC (Bermondsey), have the pleasure in submitting thelr annual report together with their financial accounts for the year ended 31st December 2023. Objects of the Charlty: The Church was registered on 51h November 1999 under the Governlng Document Declardtlon of Trusl dated 7tr July 1999 as amended by supplement deed dated 15th October 1999 and registered wlth Charity number 1078085. The princlpal objectives of the Church as set out In the Declaration of Trust are as follows: (a) The Advancement of the Chdstian Falth in the United Kingdom and Abroad. (b) The Rellef of persons who are In conditlons of Need. Hardship or Distress or who are aged or sick In the United Klngdom and Abroad. The prlncipal artivities of the Church are Christlan Worshlp To worshlp God Almighty as a unlted famlly coupled viith the involvement of various minlsters and ministrles of falth propagating the Christian Tenets to members and non-members i.e. to encourage personal growth through Christian teaching and training, To achleve these objectives, the Church was Involved and engaged in Christian Outreach progrdmmes speclfically designed to increase Chrlstian awareness and spread the Gospel of Our Lord Jesus Christ in and around Bermondsey, Rothertilthe and In the London Borough of Southwark in general. The Church operdte5 a "Home Group" struthre. Home Group leaders have been. effectively trained and appointed to oveee and nurture groups of people who meet weekly to worshipi pray, play, share life experlences and bless each other in varlous approved homes of members of the Church In and around London Clty. These home groups are easlly accessible to members and non-members alike, In ad(iitlon to providing a spiritual support structure for people within and/or on the perlphery of the Church. The Church congregations meet for regular Celebrations Servlces on Sundays and on Fridays for prayers for our community, and the entire nation. These meetings are usually held at Haddon Hall Baptlst Church, London and at The City of London Academy, Bem)ondsey. In addition to these meetlngs, the Church parUclpates in varlous Inter-church gathedngs In and around Berniondsey and Rotherhlthe on a regular basis. HOTRIC benefits the publlc by currently provlding the followlng servlces which are available to everyone in the communlty Career Counselling; Character Development; Educatlonal Counselling; Pre- marital Counselllng i and Drop-In Counselllngi Hospital Vislts. Welfare provlsion; Prayer Support; Men's and Women's meetlngs and Youth meetings. Our AWARD WINNING Hotric Charity Shop, which was awarded "THE NORARY ERTY E NEI HBOU OD FTH LD TROP LIT BOR RMONDS provides dothes and shoe5 as well as food bank to the publlc. These activities of the Church a generously supported by voluntary donations of time, energy, resources and money from Church members in response to the prlnciples of faith and prayer.. HOTRIC fulfils its vlslon with the help of many volunteers withln and outslde of the Church who have been very generous Wlth their resource& In respect of all these varlous activities and servlces that we carefully carried out during the financial year of 2023, the Trustees hereby confirm that they had properly paid due regard to gUIdan Issued by the Charity Commisslon on publlc benefit.
Revlew of Actlvities: The Trustees are pleased to report that the Church continued to be successful by mlnlstering to many people froffl different nationalitles. As a result of this contlnued growth, thls has brought increase In membership, stewardship and maturity In faith as the Church has taught, trained and developed various people Into the posltions of responsibllltles and leadershlp. The maln ways the Church achieve tts objectlves are as follows: / Brlnglng the love of Chrlst to the community in runnlng the Friday's School of Ministry for those who wanted to find out about Christlanity and Christlan Ilvlng. About 130 people attend these schools every Frtday nlght even when we had to adapt the usage of Z¢)om because of the pandemic. O Running a local Charity and Drop-in Centre for the local people the public In general Various indlvlduals are catered for by way of subsidised pr of quallty clothes and shoe5 sales, frequent supply of free drFnks and snacks to interested individuals. O Various Youth meetings and conferenc&8 were held In and outside the Church by In-house Pastors and Anointed Guest Mlnlsters. O Opening of new homes across the crty for home group fe[lovhIpS and. O The establishment of Food Bank Systems In Bermondsey. Various Indivlduals and families are catered for wlth free distributlon of food, drinks and materials In the local communities. Flnanclal Revlew: In flnanclal temis, HOTrtC Is in good Shape and is self-sufficient due to the sacrificial support of Its members. Our total income a5 a Church from all resources was approximately £280,170 for the year 2023 (£324,525 - 2022) and most of this was expended during the year a5 indlcated in the attached financlal accounts. HOTRIC management have continued to Implement a robust budgetary control and monitorlng of c05ts to deliver a balanced budget In the future. FUTURE DEVELOPMENTS The church wlll contlnue to focus on Its activitles to meet the set objectives and In reaching young people at our local communltles wlth the Gospel of Our Lord and Saviour Jesus Christ. RESERVE POLICY The Trustees have carefully examined the Church's requirements for réserves considering the main risks to the church. It has established that a policy whereby the unrestrlcted fiJnds not committed or invested in tangible fixed assets be held by the church should be between two {2) to four (4) months of the expenditure. It is then the pollcy of the church to maintain unrestrlcted ftjnds which are the free reserves at a level that equates to appropriate two-three month's unrestricted expenditure. This provides sufficient ndS to cover the management, administration and support costs and to effectively respond to emergencies that may arlse from tlme to time. Unrestricted fund was adequately malntained at this level throughout the year. RISK MANAGEMENT POLICY
The Trustees have carefully examined the major strategic, business and operational sks that the church faces and confirm that appropriate systems and structures have been established to enable regular reports to be produced so that the essary steps can be taken to lessen these risks. All major Insurable risks are subject to normal Churches and Employers, Insurance. Contractual rlsks insurances are reviewed before being entered into to assess that they could not slgnificantly Impact upon the church's abllity to fulfil its objectives. An annual revlew of all areas of risks Is undertaken by the Trustees In conjunction wlth the staff and volunteers responsible for the area of activity. REVIEW OF FINANCIAL posrrIoN Glvlng and other charitable Income was affected due to congregatlons, varlous reasons In which the state of the natlonal economy was one. Please refer to pages 3 to 11 for the full detalls of the financial statements for the year to 31st Dember 2023 of whlch this report has been prepared. TRusfEES' RESPONSIBILrrIES The Charlty Act requires as the trustees to prepare the flnancial statement for each financlal year which glve a true and fair vlew of the state of the Trust and of Its Income and expenditure for that period. In preparing those financial statements, the trustees are required to: Select sultable accounting pollcies and apply them conslstently. Make judgements and estlmates that are reasonable and prudent. Prepare flnancial statements on a golng concern basls unless It Is Inapproprlate to presume that the trust wlll continue in buslness and. State whether the applicable accounting standards have been followed, subject to any material departure dlsclosed and explalned in the accounts. We, as the Trustees are responsible for keeping proper accounting records whlch disclose with reasonable accuracy at any time the financial posttlon of the Church. We are also responsible for safeguarding of the assets of the church and hence for taking reasonable steps for the prevention and detection of fraud and other irregularltles. We, as the Twstees conflnn that the accounts comply wlth current requirements of the Charity Act 2011 and those of the Charity's Trust Deed. BOARD OF TRusfEES The members of the Board during the year were as follows: (l) Reverend Irene O. Oyebade. (2) Reverend Tunde Ogedengbe (3) Pastor Margaret Bankole {4) Minister Gbemisola A. Odusanwo. (5) Pastor Gldeon O LAmptey. (6) Mr Peter Beckley APPROVAL Thls report wa5 approved by the Trustees on Monday, 30th September 2024 and slgned on behalf of the Twstees by Reverend Irene O. Oyebade. Dated: 30th September 2024
Charity number. 1078085 HOUSE ON THE ROCK INTERNATIONAL CHURCH Report of thè Trustees and Unaudited Financial Staternents For Ihe year ended 31 December 2023
HOUSE ON THE ROCK INTERNATIONAL CHURCH Contents Page For th8 year ended 31 December 2023 tr&peI E¥AmlWs Ropc*t io th• Tnte8& Statementof Fkwn¢ig1 Adp•i statem8nt cl Financial P Notes to th& Fin8nc¥al Stat8ments 5t09 Detai18d stster11OfFMaI AdlvK 10t011
HOUSE ON THE ROCK INTERNATIONAL CHURCH Retxxt ofthe Trustees Forthe year ended 31 Debor 2023 The Tru8t8es havg pknre presgntivJ thelr rem and th8 staternts for th8 rkslty for the yw endBd 31 Docembar 2023. Th8 Trusta8s have adopbj the rm[$ of Ac¢ryJntit¥J and Reporting ty Charittgs: Slalemsnl of Rocornmandsd Pra¢tlo applieab18 to chaiibes weparing Iheir ac(oJnts in a(tthants Iwth the Fina81 Reportlng Stsrsdard appll¢able in the UK and the Republic Df Ireland IFRS 10211gtsive 1 jarary 20191. OBJECTIVES AND ACTMTIES statement on publlc bOnt Thg trust8e8 have the Chwlty Cc4nmislon's 0Janta bgnefil InthdlTrJ 1he gLthnce 'publc benefrt.. running a tharity IP821'. FINANCIAL REVIEW Thg net daficlt for the year amuThled to £46725.13. Is to g8n8r81 reseryes ofth8 charfty. REFERENCE AND ADWMISTrATIVE INFORMAnoN Namt of Charfty Chartty r•gl$tratlon nurnb•r Pr]n¢lJal )ddro1S HOUSE ON THE RK INTERNAm¢M CHURCH 107ei)85 BLK B. SUITE B102 Biscuif FACTORY BUSNESS COMPLEX. DRUMMOND ROAD LONDChY SE16 4DG Tte¢S Tho frusta88 8NJ offlcars semng duriThJ th8 yw Sir th& y4r S[e as 10kn". Mlnistw Gbemkn)la A (klusaTro P8skY Gidwn Lamptey Rev Irene O. (tyeL Mr P8tw Be Pastc( Margarnt BaAkdB . secrntary lThJep8ndenl ¢xamlner CHRISATKINS SERVICES ONE UMtrED oFFE 310. ACCESS SELF STOFWGE UNrr 1, MERIDIAN TRADLNG ESTATE 20, BUGBYS WAY LONtK)N SE7 75F Approv by the Bowd olTrustees and sNJn8d *8 hairbY Pa8tor Gideon Lampt8y 1 of11
HOUSE ON THE ROCK INTERNATIONAL CHURCH Independent Examiners Report to the Trustees For the year ended 31 December 2023 I rgport to the bwstees on my examlnatTon oftr rAthg thartyts the Yearery1 31 DeceThtr2023. RespDnslblllUe8 and ba51s ol report As th8 charity trustees, you are re8pThTrAe for Iho FYepN4rBt[ of th8 accounts wth the r8qulrgmorrts of Chwth98 Ac120111'lhe 2011 Act'i. report Iti respect of tny exarnination ol the ¢hariV8 a(Ints ujt $octw)n 145 of th8 2011 Act &nd In r£rylng out my eX)Ination I havo follth¥ed all Ihe appcab Dr8Ctk)ns gn by Charfty CorThnw40n urNJEf seCtn 14515llbl of Indep8ndant 8xamln8r8 slatsMt sIn the Charitys gross Inc¢)me exceeded £250,(M)O. 8xamngr must be a member of a boty Ilsted In sedlon 145of the 2011 Art. I confim thal l arn qualhed to uThlertake the 8xaminalkn by vvtU8 of my membership of Ihe ItIlUt of Flnancial Accountan( th1th18 rm of the listed bod8S. I have completed my 8xamination. I confrm thal Th) matters ct¥nèto nryatt8ntiL tn rthn8CtK)n Mth th8 8xamlnallt gIng mg causa to balava that In any rnat8rid resp8rA'. 1. accounting records were not kept in respect of the Charity 89 rw4uirI by 80c1Tr 130 of the 2011 Art or 2. th8 accounts do not ai)xJrd with th0 records: or 3. thè accounts do not with the 8pplcabb wuIreMlS form ad content ofacLY)unts setout in Ihe Gharill&s IAc¢wnls arKI Reports} Regulations 2CN)8 0th8r than any req1ment that the a1JJnts gNe a Irub and faér vlo whlch 1$ not a matter a5 part of an itvJepend0rit examina1. I have no eort8rrw aThl have corng across rooth8r mattW8 In ith 1he exam1tsl to 8ttention slKyJk4 bg drawn In this roport in Ofdsr lo a FXW8r u1Sta[lkng olthe atnts1O be reached. Chris Atkins Services One Limited CHRIS ATKINS SERVICES ONE LiMrrED OFFICE 310. ACCESS SELF STORAGE UNIT 1, MER1DN TRADING ESTATE 20. BUGBY'S WAY LONDON SE7 78F 26 September 224 2of11
HOUSE ON THE ROCK INTERNATIONAL CHURCH Statement of Finanpial Adivtties For the year ended 31 December 2023 Unr•slrl¢t¢d J8 2022 and endowments from: Donations and kgaoe5 Charitabb &UvlUes EVANGELISM Investments Bank int8r85t receivAN* 218.687 260,748 62.714 63,546 769 138 Total 280.170 324.432 Exp6ndlturg on: ChaAtab18 actltIeS EVANGELISM 1326,8951 132e,895) {312,1121 1312.1121 Total N•t In¢om•l•xp•n¢ltur• Reconclllaifon of funds Total funds br(KJghl [d Total funds carrl8d forward 146.7251 12.320 121,070 74,345 108,750 121,070 3of11
HOUSE ON THE ROCK INTERNATIONAL CHURCH Statement of Finarrial Posltk)n As al 31 December 2023 2023 2022 Flxèd a$5ets Tangibb assets 11 4.473 4,473 Curr•nt as$•ts Cash at bank ar•J In hmnd 76.945 78,945 (7,0731 124,637 124,63T 13.5671 Cr8dttor8: amounts IlIng du•thIn onth y 12 Not current assets 69.872 74345 121,070 121.Q70 Yotsl as$•ts Iw cuYr¢nt Ilabllrths Net a880ts 74,345 121,070 Th• funds olth• ¢harlty UnrestCted *)c4xne fvnds 13 74.345 121,070 121,070 To¢al funds 74345 Th&fin ndal 5taternellts wer? aFyrDbYd and autiriSed BnI a¥J gnl on its b8h81fby: Mini81gr GberfflK8(Aa A. O¢lu$an Trust99 26 September 2024 4rA11
HOUSE ON THE ROCK INTERNATIONAL CHURCH Notes to Ihe Financial Staten)ents For the year ended 31 December 2023 1. A¢¢ountlno Pollcles a$ls L)f a¢¢ountlno The flnanclal $talomaTts h8v8 been trywed )dthe hiBtorxl cost cth, In¥e8trrts whkh are inthd8d Èl market value aThJ the rewdluation of ¢8rtth flxJ assets arNI irb acLwlan¢owith the Charits8 SORP IFRS 1021'A(tounll and ReptiTh3 by Charhi8s'. Statement of Re¢Offwr¥jed Practice applicatle io chtrits88 preparing thglr acrx)unts In aeKordan¢ w(th the Fina81 Rewling Slarthrd apFdthtAe in th8 UK and R4>ubk'c of I[Pnd IFRS 1021 18ffectW8 1 J8nuary 2D19y. Flnandal Rep Stsrnlard 102 ts nar¥al Rewxliw Slandard appl¢ab In the UK and Republic of Ireland IFRS 102). and the Q)arltl85 2011. HOUSE ON THE ROCK INTERNATIOW CHURCH maets the d8fiNknn of a wblG bPT enty under FRS 102. Assets and1[lIe5 ale in81 recognl8ed at hlstorknl Ly)st traJw vathje unless othe$tr stated In thg a¢(nIng pr41cy rnts(sl. Golng concwn The ablllty oflh& Charity to caryon Its acmegknlhè lore¥e8th futtjre 1$ 1 threatened after Managerrtnl. In¢omlnll roMurco9 AJI ItKoming resrE&S we Induded In the StatOf finan vAkn the Clwrity l¥ entiw to the Irwxjmo and Ihe amount can be ¢wantiled r8asonatAg awacy. ThefLknty 8pedffc [¢e$ appkd to pdraJlar calegorles of Incom: Vduntary kncorne... Incom8 from Trthes & oYfiigs & kKJdY In thg Incunuw $te8 when Ihese we receab]s. Admues for naratv fund5:. This crynprlses sak ol 8rKI ¢lwity 8P saks aCLnted for on rlpL Inveslment Incom&. Invaslmont 11L¥ll& 0ft InlerESt the pgrfod and accountad ts as unrastrided knd. Resources expanded Resources 8xpend8d are iicktded l) Iha Statem8nt A¢¥Itil an ba8is. indusfve ofany VAT wh cannot bè r8cover8d. Certain 8xwdliurn b attn'LwJtabla to speafic afamtss has been nduded h those rthl calegorts. Taxallon The chaAty 15 OXgrnPtfr(Th oypcwath)n tax(¥) ts drItable 2. InGoTho from donatlon8 and Iw¢l¢• 21JZJ 22 Unrnstrl¢t8d funds tknalions r81xv8d 216,687 260,748 216,6e7 260.748 5of11
HOUSE ON THE ROCK INTERNATIONAL CHURCH Notes to the Financial Statements Continued For the year ended 31 December 2023 In¢omo from ¢harltabl8 acovliles 2023 2022 Llnr¢8trl¢ted fvnds EVANGELISM In¢oma frcwn charttab activities 62.714 Inv•$lment Incomg 2023 2022 Unrostrlct•d funil8 Bank intsfe3treceiY*)le 136 76 138 S. Coats of charltable acUWtles by ftmd typo 2023 2022 Unr¢5tr1cted fund5 EVANGELISM 309,167 17,728 293.878 18.234 Supportrxsts 326.895 312.112 O. Costs of ¢harftablè aclfviti•s by acthTIty typo 2022 AGUvltle¥ undertakon dlr•clty EVANGELISM 326,895 312.112 7. Analysls of support 2023 2022 Govemance ¢0813 17,728 18,234 6of11
HOUSE ON THE RK INTERNATIONAL CHURCH Notes lo the Financlal Statements Conunued For the year ended 31 December 2023 & Net In¢omollexpendlbJr•l for tho ) Thls Is stated aftar thargl{(ser 2023 2022 Depredation of1)Wn flx8d assets Acntan¢Y fees Tru8tg68' r¢InUn8ra 1.491 1.575 1,575 42,440 1,876 Staff paMon contrfbutlcffis 1,876 g. Staff costs •molum•nts Totol stsff ¢x)8t8 for the year ended 31 DeCmibBr2We.' 2023 2022 Salarfes and wagas Pwlon costs 50.(XJD 1.876 92,440 1,876 51.678 316 2023 2022 10. Comparatl¥e for th• Stat•m•nt ol Flnanclol A¢tivl The comparative yearv8lu88 on ihe Statemenl of FknancialActr¥ite8 are oStr furth. 7of11
HOUSE ON THE ROCK IRNATIOAL CHURCH Notes to the Financi Ststements Contlnued For Ihe year ended 31 Dewnber 2023 11. Tang18 f1 B¥sets Comput¥r Equlpmont Cost or valuaflon At 01 January 20 Al 31 Oec8rnb8r 2023 5.9 D¢pr8clatlon Charye foryear At 31 Deeamber 2ff23 1.491 1A91 Net book valu At 31 Dernber 2023 UY3 At 31 December 2022 5.964 12. Credltor8: Hrn¢Jwts tslllng due 1h1n y•¥ 2023 Other cradllors 517 Accruals arNI d&ferr*l Irrtxxn8 1.5T5 3.050 7.073 1567 13. Movement In funds Unr•$trl¢ted Fund8 Balance at 01A11r2023 Incomlng re5ourtté¥ OutgDlng Balance at 3111212D23 Genarar General 121.070 280,170 {326.8951 74.345 121,070 200.170 1326,8951 74,345 Unr¢slrl¢ted Funds-Pr•vlous y ealance at In¢omlng Outoolng r¢•ourc•s resourtes Balanc8 at 3111212022 01101r2022 General Ger[21 108.750 324.432 1312.1121 121.070 108.750 324432 1312,1121 121,070 8of11
HOUSE ON THE ROCK INTERNATIONAL CHURCH Notes to the Financial Statements Continued For the year ended 31 December 2023 Purpfj ofynmtrf¢tod Fund8 GeneMI Unrestrkled- mprising funds vlhkh can LE in aryxKdancttth the tharilabb otie(as al di¥crgUon of tho 14. Antys15 of net assets btw¢•n fund# T1b1¢ Not cuThnt NotAg¥ats assét81 Unrostrlctedfunds Genèrnr Genar81 4.473 89,872 74,345 4.473 69,872 74.345 Pr•vl*)us ygar Tanglbh N•t ¢uvrent NetA65•ts assDts I Unroslrf¢ted funds Goneral General 121,070 121,070 121.070 121.070 9of11
HOUSE ON THE ROCK lfERNATIONAL CHURCH Detailed Statement of Finan(aal Acttvities For the year ended 31 Dmber 2023 2023 2022 INCOME AND ENDOVIMENT Donatltsn8 ond l¢ga¢lo Donation 185,090 31.597 235,708 25,040 Glft Ald 216,68T 260,748 ¢horltsble actlvllles Incoff from charltsble VItIeS 62,714 63,546 62.714 546 In¥Ime[rt5 Bank Interest wivable 138 138 Tolal Incomlng rosourc•s 280,170 324,432 EXPENDITURE Charltoble aGtlvltt staff costs. wages & salaries staff Costs- pensbn wntrlbutlons Tntstee. wagos & salws DewÈcL8llon- own8d assets Rent. Rat65 & SeNth rg Honordrium Evangellsm Donalx)ns to Charttte5 Conferencos & Events Prfntlng, Postagg aThJ statiery Travel & Motor Exper5 In811ran( Lht & Heat Bank Charges Rgpalr & R8newa18 SubsP110n¥ & LThr Volunteers. Mlsslon T?phOne and kntsrrt Equlprnenl Hire Patsonagg ITMeb5ite Pastt)ral Ayan 150,OC4)1 11,8761 150.0001 110761 142.4401 11A911 190,6321 14,7101 121.2421 112,0951 11,323) 11,6281 I2,0) 13.332) 11.57n 197,7731 {7,6)1 115.4621 17.7361 16,3211 (S,2) 13.4501 12,6111 14701 (9.203} (1,2071 (2,40D} 127.8851 {6.8831 12231 118.2(Kll (1,226 11,1631 119,495} 15,447) 18,5441 118,000) 1309,1671 2Y3,878} SUPPORT COSTS Governancg costs Accountaw fs88 Prof8ssional F66s {1,5751 16.1531 11,575} 116,859} 117.7281 11Q234) Total re4ourc8S ?¥PBnded 1326Mg51 1312,112) 10of11 Th18 page does Th)t INM part olthe slahrtory finwaal slalenwnts
HOUSE ON THE ROCK INTERNATIoL CHURCH Detailed Statement of Financial ACtiVeS CoTrtinued For the year erKled 31 December 2023 Net Expendhur• 11320 11 of 11 This p8ge does llotfDm7 part ofthè stsbrttyy finawKid statements