Charity number.. 1078085 HOUSE ON THE ROCK INTERNATIONAL CHURCH Report of the Trustees and Unaudited Financlal Statements For the year ended 31 Dember 2024
HOUSE ON THE ROCK INTERNATIONAL CHURCH Contents Pag8 For the year ended 31 December 2024 Report of the Trustees Independent Ex8mlnor's Report to the Trusleey Statement of Financial Actlvillos Slatsmént of Flnanclal Posltlon Notes to the Financial Stalgments 5109 Detall8d Statement of FlnanGial Activities 101011
HOUSE ON THE ROCK INTERNATIONAL CHURCH Report of the Trustees For the year ended 31 December 2024 The Tru8lees have pleasure in presenting their rowrt and the financial statements for the charfty for lh8 year ended 31 December 2024. The Trustee5 have adopted the provision8 of ACUntIng and Reportlng by Charities.. Slalement cf Recommendéd Practlce appll¢abl8 to charttles preparlng thelr accounts In a¢¢ordance wllh the FlnanGlal Reportlng Standard applicable in the UK and the Republi¢ of Iroland IFRS 1021 leffecllve 1 January 2019). OBJECTIVES AND ACTlVtriES ststement on publlc beneflt The Iru8tee8 have consldered tho ¢harlty Commision%.4uidanoe on publlc benefit, includlng the guldan¢e UblIC benefit- runnlng a charity {PB2}'. FINANCIAL REVIEW The net surplus for the year amounted lo £10,185.53. th$ pravious yèar was a d8ficit attsibutable to general reservas of the charily. of £46725.13, all of whlch Is REFERENCE AND ADMINISTRATIVE INFORMATION Nama of Charlly Charlly roglstratlon numbgr Prlnclpal addrèss HOUSE ON THE ROCK INTERNATIONAL CHURCH 1078085 BLOCK B, SUITE B102 Biscurr FACTORY BUSINESS COMPLEX, DRUMMOND ROAD LONDON SE16 4DG Trustèès The tTU8t8es and officera 88rvlng durlng the yaar and slncè tha yèar ènd wer8 as follows.. Minister Gb9misola A Odusanwo Pastor Gideon Lampley Rev Irene O. Oyebade Mr Peter Be¢kley R8v Tunde Oggdengba P8stor Margarol Bankol Sècr8tary Mr Jam68 Odogwu-okonyla Independent examlner CHRIS ATKINS SERVICES ONE LIMITED OFFICE 310, ACCESS SELF STORAGE UN 1. MERIDIAN TRADING ESTATE 20, BUGBY'S WAY LONDON SE7 78F Approvod by th& Board of Trustees and signed on its behalf by 30 September 2025 Pastor Gideon Lamptey
HOUSE ON THE ROCK INTERNATIOWL CHURCH Independent Examiners Report to the Trustees For the year ended 31 D8cember 2024 I report to the trustees on my examlnation of tha ac¢ounts of the charity for the y9ar endod 31 Dec9mber 2024. Re¥ponslbllltle6 and basls of report As the ¢harlty trustees, you are ro8pon$lble for tha preparadon of the aGwunts in accordance wlth the requlrgments of the Charllles Act 2011 (Y)e 2011 AcV>. I r¢porl in respe¢l of my examination of the charity's accounts ¢arried out under 8ectlon 145of the 2011 Act and in Carrying out my examinatlon I have followed all the applicable Dlrectlons glvgn by th& Charity Commission under section 145I5)(b) of the Act. Independent èxamlner8 8tat•mènt Sinco tha Charfty's gross income gx¢8&ded £250.000, your examlner must be a member of a body Ilsted In section 145of the 2011 Act.. I conflm) that l am qualified to undertake thé 8xamlnatlon by vlrtue of my membership of Ihg Institute of Flnanaal ACuntanI, whlch Is one of tha lIst ldieS, I have completed my axamination, I confirm that no matt6rs have ¢ome to my 8llention in connection wllh the examlnallon giving me cause to bellev6 that In any matsrlal respect: 1. accountlng records were not kept in respect of th6 Charfty as requlred by se¢tlon 130 of the 2011 Acl., or 2. the accounts do not accord wllh those records," or 3. the accounts do not wrnply with the appllcable requlr8ments GOnming the form and content of a¢cA)unts set out In the Charlllos IAcGounts and Rerts) Regulalions 2008 Dlher than any r8qulrement that the accounts give a and falr vla whiGh is not a mattar ConsIder as part of an independent exatnination. I have no concems and have corne aGross no other mallors In connectton wlth the examination to which attention should be drawn in thi8 repDrt In ordor to enable a proper understanding of the accounts to ba reached. CAS ONE LIMITED CPIRIS ATKINS SERVICES ONE LIMITED OFFICE 310. ACCESS SELF STORAGE UNIT 1, MERIDIAN TRADING ESTATE 20, BUGBYS WAY LONDON SE7 7SF 30 Seplember 2025 2of11
HOUSE ON THE ROCK INTERNATIONAL CHURCH statement of Financial Activities For the year ended 31 December 2024 Not05 Unre8trlctsd funds 2023 Income and endtsents frorn.. Donations and legacies Chariiablo a¢livilie$ EVANGELISM Investments Bank interest receivable 232,3M 218,687 66,441 62.714 812 769 Total 299,59T 280,170 Expendltura on., haritsble activiti98 EVANGELISM 516 (289,412) (289,412 {326,895) 1326,895 Total Ngt Incomeloxpondlturo Roconclllatlon of funds 10,185 146,725} Total fund$ brought forward Total funds Carr1 loard 72,938 83,123 121,070 74.345 3of11
HOUSE ON THE ROCK INTERNATIONAL CHURCH Statement of Financial Position As at 31 December 2024 Notès 2024 2023 Flxed as59ts Tangible a55els 11 5,587 5,587 4,473 4,473 Currgnt assèts Debtors Cash at bank and in hand 7,673 75,097 2,770 15,234) 76,945 76,945 17.073> Cr8dltor8: amounts falllnu duo w5thln one y&ar 12 Net current assets 77,536 83,123 69.872 74,345 Total assets less current liabilities Net assets 83,123 74.345 Th6 funds of the charity Unreslricted income fijnds 13 83,123 83,123 74,345 74,345 Total funds The flnanclal slalements warè apprmd and authorfsed for Issue by the Board and sign8d on its behalf by: Minister Gbemisola A. Odusanwo Trus19 30 September 2025 4of11
HOUSE ON THE ROCK INTERNATIONAL CHURCH Notes to the Financial Statements For the year ended 31 December 2024 1. Accounting Pollc195 Basis of o¢¢ounting Tho financlal statements have be8n prepar$d undgr tho historical cost convontlon, except for Invoslments whlch are included at market value and Ihe revaluation of certain fixed assets and in accordance with the Charities SORP {FRS 1021 'Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charibes preparing Ihelr accounts in accordance with the FinantiafReporting Standard applicable in th9 UK and Republic Df Ireland (FRS 102) (&ffectiv8 1. January 2019)., Financial R8POrting-Standanl 102 the Financial Reporting StandaKI applicablg in the UK and Republic of Ireland (FRS 102}, and th8 Ch&ities Act 2011. HOUSE QN THE ROCK INTERNATIONAL CHURCH meets the definition ofa publlc benefit entity und8r FRS 102. Assets and Ilabililles are inlllally reccgnlsed at hlstorlcal cost or transa¢llon value unless olherwtse slated In the relevant accounting pollcy notelsl. Golng ¢on¢èrn The ability of the Charity to carry on wfth Its actlvlties for the foreseeable fvlure Is nol threaten8d after dlscusslon wlth Management. InGoming resources All Incomlng resources are Included In th8 Statément of financlal actlvitlos whon tho Chadty Is entltled tr) thè Income and the amount Gan be quantified wilh reasonable accuracy. The following specific policies are applied lo particular ¢alegories of Income.. Voluntary Incorne-. In(vme from Tithes & Offerings is included in Ihe Incorni resources when these are reGeivable. Activitigs ts gangrallng fund$.'- Thls ¢omprisgs salg of tapes, and charity shop salgs which is a¢¢ountod for on re¢glPt. Investment InGome-. Investrnent income consists of net interest received during the period and accounted for as unrestrid8d fund. Rgsourco5 eXP8nd8d Rg¥ourGes expended are in¢luded in Ihe Staternenl of Financial AGtivities on 8n aGGrual basis, in¢lu$ive of any VAT which cannot be r8covered. Certaln experKlllure Is attrfbulable to 8pecffic acllvltle8 and has been Included In those cost categorfes. Taxatlon The ¢harity 1$ exempt I•M corporation lax on Its charitable activities, 2, Income from donatlons and legacles 2024 2023 Unre$trl¢ted lunds Donations received 232,344 216,687 232,344 216,887 5of11
HOUSE ON THE ROCK INTERNATIONAL CHURCH Note5 to the Financial Statements Continued For the year ended 31 DgGember 2024 3. Income from charltsbl8 actlvltles 2024 2023 Unre8tr1¢t8d funds EVANGELISM Income from charitable activities 66,441 62,714 4. Invostmant inG¢)me 2024 2023 Unrgstrlctèd funds Bank interest receivable 812 769 812 789 S. Costs of charftable actfvitle8 by fund type 2024 2023 Unr•strlctèd funds EVANGELIS 271,558 17,854 309,167 17,728 Support Costs 289,412 326,895 6. Costs of charltable actItIO$ by actlvlty type 2024 2023 Actlvltl88 und6rtaken dlrgctly EVANGELISM 289.412 326,895 7. Anatysls ol support costs 2024 2023 Govemance costs 17,854 17,728 6of11
HOUSE ON THE ROCK INTERNATIONAL CHURCH Notes to the Financial Statements Continued For the year ended 31 December 2024 8. Net Inwmellexpendlture) for the year This is slated after chargingl{creditingl: 2024 2023 Depredation of ownad fixed assets Accountsnty feas Staff pension corrtrlbutlons 1,863 1,650 1,876 1,491 1,575 1,876 9. Staff costs and emoluments Total staff costs for the year endad 31 December 2024 re. 2Q24 2023 Salarfes and wages Pension costs 50,000 1,876 50.000 1.876 51,876 51,876 2024 2023 staff 10. Comparatlve for thg Statsment of Financlal Activities Th& comparatlve year valu88 on the Stalemgnt of Financial Activite8 ar8 for unreslricted funds. 7of 11
HOUSE ON THE ROCK INTERNATIONAL CHURCH Notes to the Financial Statements Conlinued For the year ended 31 December 2024 11. Tangible fixed os¥ets Cornputor Equlpment Cost or valuallon At 01 January 2024 Addltlons 5,964 2,977 8,941 At 31 December 2024 Depr8¢iation At 01 January 2024 Charge for year At 31 Decemb8r 2024 Net book values 1,491 1.863 3.354 At 31 December 2024 5.587 At 31 December2023 4,473 12. Creditors: amounts falling due wlthln one year 2024 2023 Othèr cr8dltors 3,584 1,650 5.498 1.575 Accnjals and doforred IncA)m6 &234 7,073 13. Movement In funds Unrestricted Funds Balancg at 0110112024 Incomlng resources Outgolng rer*our¢es Balance at 3111212024 General General 72,938 299,597 (289,4121 83.123 72,938 299.597 1289A121 83,123 8of11
HOUSE ON THE ROCK INTERNATIONAL CHURCH Notes to the Financial Statements Continued For the year ended 31 December 2024 Unrestricted Funds . Previous year Balance al 0110112023 Incorning re80urces Outgoing rgsources Balan¢e at 3111212023 General General 121,070 280,170 1326,8951 74,345 121,070 280,170 {326,8951 74,34S Purpose of unrestrlcted Funds General Unreslrl¢ted - ¢omprfslng funds whlch Can be In 8c¢ordance wllh the charltable oble¢ls at the dIscretn of the trust888. 14. Analysls of net assets between funds Tangibl8 ftxed assets Mgt wrrent assets I Ilkbllltlgs} Not Assets Unrestricted funds General General 5,587 77,536 83,123 5,587 77,536 83,123 Prevlous yèar T4nglblo ftxed set5 ¢UY¥ont as6el$ I (liabilities) Net A38ets Unrestrlcted funds Genoral Gen9ral 4,473 69,872 74,345 4A73 69,872 74,345 9of11
HOUSE ON THE ROCK INTERNATIONAL CHURCH Detailed Statoment of Financial Activities For the year ended 31 December 2024 2024 2023 INCOME AND ENDOWMENT Donatlons and legacles Donatlons 187.651 44.693 185,090 31,597 Glft Ald 232,344 216,687 Charltable a¢tlvllle8 Incom8 from charitable actlvitias 86.441 62,714 66,441 62,714 Investments Bank Inter88t recehjable 812 769 812 769 Totsl Incomlng resour$ 299,597 280,170 EXPENDtfuRE Charltable actlvllles Staff costs - wages & salarie5 staff ists - pension contributions Depreciation - own&d assels Rent, Rates & Service Charges Honorarium (50,000) 11.876) 11,863) (80.035) 13NOO) 18.502) 12,5001 12.9511 150.0001 (1,8761 {1,491 > 190,632> {4,f10} 121,242) 112,095} {1,323} 11,628> (2,530} 13,332} 11,577} {504} 19,203) 11,207) Evangelism Donatlon8 to Charflles Conforen¢e8 & Events Printing, Postagè and Slatlonery Travel & Motor Exp8nsés Insurance Light & Heal B8nk Charges Repair & Renèwals Subscription5 & LiGen$e Training Voluntears. Mlsslon T818phon8 and Intemet Equipment Hlre Parsonago ITtWgbsite Pastoral Allowance Volunteers Expenses Welfare and Support 12.9891 13.163) 12.974> 1271 } 15.320} 11,332) 1500) 12,400) 127,885> 16,883) (223) (18,200) (1,226) (49,000) {18,373} 18,477) {45) {18.600> (1.202> {49,000} (2,200} (5.985) 1271.558) {309.167 SLIPPORT COSTS Governance costs Accountancy faes Profasslonal Fees (1,650) 116.204) (1,575 <16,153 10of11 This page does not form part of Ihe 8tatutory financial statemenls
HOUSE ON THE ROCK INTERNATIONAL CHURCH Detailed Statement of Financial Activlties Continued For the year ended 31 December 2024 (17,8541 (17,728) Total resources gxpgndgd 1289,4121 (326,895) Ngl Income 10,185 148,725) 11 of11 This page does not form part of the 8tatutory financial statements
House On The Rock International Church {Bermondsey) TRUSTEES REPORTFOR THE YEAR ENDED 31ST DECEMBER 2024. Introduction: The Trustees present thelr annual report and accounts for the year ended 31st December 2024, The board of trustees are satisfied with the performan of the church durlng the year and the positlon as of 31st Dernber 2024 and conslder that the church Is In a strong position to contlnue to fulfil Its obllgatlons. Reference and Admlnlstrative Information: CHARITY NUMBER 1078085 TRUSTEES AT 31ST DECEMBER 2024 Rev Irene O. Oyebade Rev Tunde Ogedengbe Pastor Maryaret Bankole Minlster Gbemisola A. Odusanwo Pastor Gideon Odartey Lamptey Mr Peter Beckley BOARD'S SECRETARY Mr. James Odogwu-okonyla SENIOR PAsfoR Revd. Irene O. Oyebade GOVERNING DOCUMENT Declaration of Trust Deed dated 7th July 1999 and the supplement deed date 15th October 1999. OBJECTS (a) The Advancement of Christianity and (b) The Relief of Need. HardshipJT Distress. Age or Slckness. LEGAL FORM A Charitable Trust - An Unincorporated Charity. CORRESPONDENCE ADDRESS Block B, Suite BIO2, The Blscult Factory Buslness Complex Drummond Road, Bermondsey London SE16 4DG. BANKERS Bank of Scotland, 600 George Road, Edinburgh, EHII 3XP. TSB PLC 76 Rye Lane, P¢ckham, London, SE15 5DQ AUDITORS Christ Atklns Servlces Ltd. Office 310, Access Self Storage Unit l Merldlan Trading Estate 20 Bugby's Way London SE7 7SF.
STRUCTURE, GOVERNANCE AND MANAGEMENT The Trustees of House On The Rock International Church-HOTRIC (Bermondsey), have the pleasure In submitting their annual report together with their financial 3t accounts for the year ended 31 December 2024. Objects of the Charity: The Church was registered on 5th November 1999 under the Governlng Document Declaratlon of Trust dated 7th July 1999 as amended by supplement deed dated 15th October 1999 and registered with Charity number 1078085. The prlncipal objectlves of the Church as set out in the Declaratlon of Trust are as follows: (a) The Advancement of the Christian Faith In the Unlted Kingdom and Abroad. (b) The Flelief of persons who are In conditlons of Need. Hardshlp or Dlstress or.who are aged or sick In the Unlted Klngdom and Abroad. The prlncipal actlvltles of the Church are Chrlstlan Worship - To worship God Almighty as a united family coupled with the involvement of various mlnlsters and ministries of faith propagatlng the Christian Tenets to members and non-members I,e. to encourage personal growth through Christian teaching and training. To achieve these objectives, the Church was Involved and engaged In Chrlstlan Outreach programmes specifically designed to increase Christian awareness and spread the Gospel of Our Lord Jesus Christ in and around Bermondseyi Rotherhlthe and In the London Borough of Southwark In general. The Church operates a "Home Group" structure. Home Group leaders have been effectively trained and appointed to oversee and nurture groups of people who meet weekly to worshlp, pray, play, share life experlences and bless each other in various approved homes of members of the Church in and around London City. These home gmups are easily accesslble to members and non-members alike, in additlon to provldlng a spiritual support structure for people within andlor on the periphery of the Church. The Church congregatlons meet for regular Celebratlons Services on Sundays and on Frldays for prayers for our communityi and the entire nation. These meetings are usually held at Haddon Hall Baptlst Church, London and at The Clty of London Academyi Bermondsey. In addition to these meetings, the Church participates in various Inter-church gatherings In and around Bermondsey and Rotherhlthe on a regular basls. HOTRIC benefits the public by currently providing the following services which are available to everyone in the communlty Career Counselllng; Character Development. Educatlonal Counsellingi Pre- marital Counsellingi and Drop-In Counsellingi Hospital Visits. Welfare provlslon. Prayer Support. Men's and Women's meetings and Youth meetlngs. Our AWARD WINNING Hotric Charity Shopi whlch was awarded "THE HONORARY L OF THE NEIGHB RH F THE OLD METROPOLITAN BOROUGH OF BERMONDSEY", provides clothes and shoes as well as food bank to the public. These activities of the Church are generously supported by voluntary donations of tlme, energyt resources and money from Church members in response to the principles of faith and prayer. HOTRIC fulfils its vision wlth the help of many volunteers wlthln and outside of the Church who have been very generous with their resources. In respect of all these various activities and services that were carefully carried out durlng the financial year of 2024, the Trustees hereby confirm that they had properly paid due regard to guidance issued by the Charlty Commlssion on publlc benetlt.
Review of Activities: The Trustees are pleased to report that the Church contlnued to be successful by ministering to many people from different nationalities. As a result of this continued growth, thls has brought increase in membershlpi Stewardshlp and maturlty In falth as the Church has taught, trained and developed various people into the positions of responsibilities and leadershlp. The maln ways the Church achieve its objectives are as follows: / Bringing the love of Christ to the community in running the Friday's School of Mlnlstry for those who wanted to find out about Chrlstlanlty and Chrlstlan livlng. About 130 people attend these schools every Friday night even when we had to adapt the usage of zoom because of the pandemlc. O Runnlng a local Charlty and Drop-in Centre for the local people and the public in general Various individuals are catered for by way of subsidised prlce of quallty clothes and shoes sales, frequent supply of free drinks and snacks to interested individuals. O Various Youth meetings and conferences were held In and outside the Church by In-house Pastors and Anolnted Guest Mlnlsters. O Openlng of new homes across the city for home group fellowships and. O The establishment of Food Bank Systems in Bermondsey. Various Individuals and famllles are catered for wlth free distributlon of food, drinks and materials in the local communities. Financial Review: In financial terms, HOTRIC is in good shape and is self-sufflclent due to the sacrlflclal support of its members. Our total income as a Church from all resources was approximately £299,597 for the year 2024 (£280,170 - 2023) and most of this was expended during the year as Indlcated In the attached flnanclal accounts. HOTRIC management have continued to implement a robust budgetary control and monitorlng of costs to deliver a balanced budget In the future. FUTURE DEVELOPMENTS The church will continue to focus on its activities to tneet the set objectives and in reachlng young people at our local communities with the Gospel of Our Lord and Saviour Jesus Christ. RESERVE POLICY The Trustees have carefully examlned the Church's requlrements for reserves consldering the main rlsks to the church. It has establlshed that a policy whereby the unrestricted funds not commltted or Invested In tanglble flxed assets be held by the church should be between two (2) to four (4) months of the expendlture. It is then the policy of the church to malntaln unrestricted funds which are the free reserves at a level that equates to appropriate two-three month's unrestrlcted expenditure. This provides sufficient funds to cover the management, admlnlstratlon and support costs and to effectively respond to emergencies that may arise from time to time. Unrestricted fund was adequately maintained at thls level throughout the year.
RISK MANAGEMENT POLICY The Trustees have carefully examined the major strategic, business and operational risks that the church faces and confirm that appropriate systems and structures have been established to enable regular reports to be produced so that the necessary steps can be taken to lessen these risks. All major Insurable rlsks are subject to normal Churches and Employers, Insurance. Contractual risks insurances are revlewed before belng entered Into to assess that they could not slgnlflcantly impact upon the church's ability to fulfil its objectives. An annual review of all areas of risks is undertaken by the Trustees in conjunction with the staff and volunteers responsible for the area of activity. REVIEW OF FINANCIAL POSITION Glvlng and other charltable Income was affected due to congregatlons, varlous reasons in whlch the state of the national economy was one. Please refer to pages 3 to I I for the full details of the financial statements for the year to 31st December 2024 of whlch thls report has been prepared. TRUSTEES, RESPONSIBILITIES The Charity Act requires as the trustees to prepare the flnanclal statement for each financial year which give a true and fair view of the state of the Trust and of its Income and expendlture for that perlod. In preparlng those flnanclal statements, the trustees are required to: Select suitable accounting policies and apply them consistently. Make judgements and estimates that are reasonable and prudent. Prepare flnanclal statements on a golng concern basis unless It is inappropriate to presume that the trust will continue in business and. state whether the applicable accounting standards have been followed, subject to any material departure disclosed and explained in the accounts. We, as the Trustees are responslble for keeplng proper accounting records whlch disclose with reasonable accuracy at any tlme the flnanclal posltlon 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 Trustees confirm that the accounts comply with current requirements of the Charity Act 2011 and those of the Charity's Trust Deed. BOARD OF TRUSTEES The members of the Board during the year were as follows: (l) Reverend Irene O. Oyebade. (2) Reverend Tunde Qgedengbe (3) Pastor Margaret Bankole (4) Mlnister Gbemisola A. Odusanwo. (5) Pastor Gldeon O Lamptey. (6) Mr Peter Beckley APPROVAL Thls report was approved by the Trustees on Tuesdayi 30th September 2025 and signed on behalf of the Trustees by Reverend Irene O. Oyebade. Dated: 30th September 2025