Charity reglstrallon number 1102396 (England and Wale8)
cOm￿nY reglstratlon numbor 4824843
HOUSE ON THE ROCK
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

HOUSE ON THE ROCK
LEGAL AND ADMINISTRATIVE INFORMATION
Tru8tee$
Mr PAAd8farasin
MrA Oyewumi
Dr C Ujam
Charlty numbèr (England and Wale•)
1102396
Company number
4824843
Prlnclpal addre88
The Rock Tower
49 Tufnell Park Road
London
N7 OPS
Regl•tsred offlce
The Rock Towar
49 Tufnell Park Road
London
N7 OPS
Audltor
DLee&Co
2nd Floor, Premler House
309 BallardB Lane
London
N12 8LY
Bank•rn
Barday8 Bank PLC
131 Flnchléy Road
London
NW3 6HY
Soll¢ltor8
Stone King
39 Cloth Fair
London
EC1A 7JQ

HOUSE ON THE ROCK
CONTENTS
Page
Tru8tees' report
Statement of trustees, re8pon8ibilitle8
Independent auditols report
Statement of financial actlvllle8
10
Balance sheet
11
statement of cash fflow8
12
Note8 to the financial 8lalements
13-24

HOUSE ON THE ROCK
TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT}
FOR THE YEAR ENDED 31 DECEMBER 2024
The trustees present their annual report and financial statements for the year ended 31 December 2024,
The financial slalemenls have been prepa￿d in accordanc% with the accounting policies sel out in note 1 to the
finanaal slalemenls and comply with the ¢harity's governing document, the Companies Act 2006 and
"Accounting and Reporting by Charities.. Slalemenl of Recommended Practice applicable to charities preparing
their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of ireland
IFRS 1021 leffeclive 1 January 20191"
Objecllves and actlvltles
The charity's objeols a￿ the worship of God and the furtherance of the gospel of Lord Jesus Christ and general
advancement of the Christian faith and lo relieve persons who are in conditions of need or hardship or who are
aged or sick and lo relieve distress caused thereby in London and in such other parts of the United Kingdom or
the worfd as the Tru81ees may from lime lo tim8 think fil.
Wilhin these objects, the eharily also maintains restricted funds held for special purposes in connection with the
continued Maintenan￿ and renovation ol the freehold property silualéd al 49 Tufn811 Park Road, London N7
ops.
There has been no changes in the charity's objects or policies dunng the year.
The main objective8 of the charity for Ihe year were..
{11 The continuous spread of the Christian faith,
121 The ongoing m8intenance of the Church building al Tufnell Path, known as "The Rock Towerf, ITRTI.
131 Development of allernalive revenue generation sources for the church like hiring out the Churth buildlng at
Tufnell Park "The Rock Tower lo external users, church members, other Charities and the general public.
{41 Dévelopment of multiple incorne streams like Rock Cafe, media resource outlet, letting out rooms.
151 Active engagement with the community and our surrounding boroughs.
{61 Significant growth in attendance of all our services.
171 Building and developing relationships with other charities in the United Kingdom and afound the wodd and
showing our support through various means.
(8) Review and reproduce a8pe¢ls of the HOTR brand and making Changes lo our online presence.
191 Review all events in line wllh oui strategic goals and then agree events based on relevance lo HOTR,
1101 Appoinlmenl, training and development of new volunteers in in various key rolès to improve processes for
handling departments and request.

HOUSE ON THE ROCK
TRUSTEES, REPORT (CONTINUED)(INCLUDING DIRECTORS. REPORT)
FOR THE YEAR ENDED 31 DECEMBER 2024
The strategies employed to achieve these objectives were..
111 Ongoing monthly strategy meetings with the Senior Management Team on ways to improve operations and
Commitment.
121 Networking with key locals groups within the Borough of Islington and beyond.
131 Continuous relationship building through positive influences within the community and partnering with local
leaders such as Member of Parliament and the Mayor of London.
(41 Continuous development of revenue sources. hiring out the venue as a business for weddings, concerts,
meetings and making continuous improvements lo thè media resources and Rock Cafe.
151 Secudng regular clients for ongoing use of The Rock Tower, i.e hiring premises.
161 Monthly prayer and Inspirational meetings and inler8Ctive sesslons held by the Residènt Pastor.
171 Improving the HOTR brand, online rèsources and websSte.
18} Having more business proce38 improvements a¢r085 the organisation.
191 Continuous development of our youth club and missions projects.
The trustees have paid due regard lo guidance on public benefit issued by the Charity Commi88ion in deciding
what activities the charity should undertake.
Mlnl8try and outreach departments
House On The Rock benefits the public by cur￿n11Y providing seNices through our various ministrres which are
available to members of the church and our community are..
Pre-marital counselling and classes
Bereavement counselling
Welfare and benevolence support
Career counselling
Drop-in counselling
Hospital visits
Career advice
Telephone counselling by one of the dedicatèd pastors for prayers or general support
Women's and Men's ministries and events
Youth and young adults ministries and events
Singles, ministries and events
Promoting religious books and CD'S and other matérial through our In house Media Resource Centre.
The truslee5 are very gralefvl lo the many volunteers who helped by staffing our prayer sessions and ￿ligiOuS
conference and events.
The charity relies on volunteers in providing a significant human resource in the activities that are run through the
year.
During the year, activities Carried out solely by volunteer resource included.. weekly mullimedia production and
projection activrties. protocol aclivilies, welfare and benevolence support, outreach and evangelism, hospitality
Icalering for guest lo services), children's and leenage church volunteers.
We have approximately 100 volunteers who work in various departments for an average of 5 hours per week.

HOUSE ON THE ROCK
TRUSTEES, REPORT (CONTINUED)(INCLUDING DIRECTORS. REPORT)
FOR THE YEAR ENDED 31 DECEMBER 2024
Achlevements and perfonnance
House On The Rock Carried out a 5 week Food for the Communrty Project from 1st lo the 31st of March 2024
with a grant support from the National Lottery Community Fund. The aim was lo provide a food bank. emergency
supplies and financial advice initiative. 11 involved distributing nulrilious food items, including fresh produce,
canned foods, essential household supplies to low income households and individuals who are faced with the
cost of living crisis in communities in Islinglon North, namely Tufnell Park, Kentish Town and Holloway.
Eoster acllvltle8
The charity embarked on its annu81 tsventy one days fasting period whlch mèmber8 are encouraged to participate
In from 12th of March 2024 to Easter Sunday on the 1st ofApril 2024.
Couples Rgtreat
The couples had a wonderful relreat Irom 20th to the 22nd of September 2024 al the De Vèrè Hotel at Wokefield.
It was a wonderful lime of vow renewal and relationship.
Famlly Fun Day
During the summer. the entire church had a Family Fun Day Out on Sunday, 18th August 2024 al St. George's
Play Park.
Other actlvltle8
We ¢ontinue to hold our family services every Sunday and mid-week lunch hour prayer meeting every
Wednesday. The Sunday Services were held in person while the Wednesday services continues lo be online. We
have a volunteer's meeting and prayer session on zoom on Tuesday. Thursday, Saturday and Sunday mornings
before the Sunday service.
Youth club A weekly youth Club was held with diffe￿nt activilies such as games, cookery, drama, talk8 and
workshops for young people in the communily. An annual summer youth club project which ran in August for
month sees youth from the community behveen the ages of 8-17 years old displaying their talent through various
projecl-ba8ed and outdoor activities and tours.
The EDGE ministry. which is the singles ministry of the Church. was regularly active throughout the year with
regular monthly meetings. which moved online since the lockdown.
Online cell groups called Life Groups arè held weekly and these serwe to help keep the congregation connected
and lively.
The men, women. singles, and youth minislfies were very acllve Ihroughoul the year, hostlng règular meetings
online lo cater lo their specifi¢ demographics,
Flnanelal revlew
The donations received from members for this year remained slfrady compared lo 2023 bul the Income was
enhanced by the grant received from Nalional Lollery Communily Fund . The attendan￿9 number have held
steady bul the purchasing power of new atlendees are less than those that Iransilioned out.
The cost of governance of the charily equate5 to 9.2 % of Ihe total resource5 expended for the year.
The net rnovemenl in funds shows a deficit of £41,664.
11 is the policy of the charity that unrestricted funds which have not been designated for a specific use should be
maintained al a level equivalent to between three and six month's expenditure. The trustees Conside￿ Ihal
rese￿e5 al this level will ensure that, in the event of a significant drop in funding, they will be able to continue the
charity's current activities while consideration is given to ways in which additional fvnds may be raised. This level
of reserves has not been maintained due lo the current commitment to service existing debt in order lo bring our
debts levels to an acceptable level.

HOUSE ON THE ROCK
TRUSTEES, REPORT (CONTINUED){INCLUDING DIRECTORS, REPORT)
FOR THE YEAR ENDED 31 DECEMBER 2024
The level of reseNes available lo the charity as al 31 De￿mber 2024 was £30,194. These reserves were
considered inadequate by the Trustees and Ihe need to continually accumulate additional reserves lo ensure that
target amount is reached. It is noted that these funds will be requir8d in order lo continue lo run the charity,
Servi￿ our debt and diversify our income streams.
The charily had no funds in deficit during the year.
The principal funding source for the charity is donations made from members who attended the serv￿$ of the
church and rental income. The charity also received lo a smaller extent income from sales of various inspirational
and Christian materials which include books, CDS and DVDS.
There are no significant events that will have a financial effect.
The Iruslees have assessed the maior risks lo which the charity is exposed. and are satisfied that systems are in
place to miligale exposure to the major risks.
A risk register has been established and is updated a8 and when néw risks are identified. There were no new
major risks idenlihed during thè year.
Plans for th• future
To achieve significant Increase in church allendance through introducing evangelism and outreach programmes.
Planting new 'home based, and online cell groups now called Life Groups"
Having more lundraising projects for the charity.
Increasing awareness and community involvement in Islinglon and surrounding areas.
Continued partnership and support of local and Inlernalional charities and partnerships with other charities and
churches.
The charity plans lo continue reaching out lo the immediate community In the Tufnell Parf< and the wider Islingion
borough. Community initialSvès are being dev&lop&d with the intention of rolling them out In thè following year.
The charity will provide activities and services to our Community that reflect the charity's statement of belief.
Structure, governance and management
The charity was originally registered under a Deed of Trust in 1996. The Trustees were advised lo incorporate
the Trust as a charity and with effect from 8 July 2003, House On The Rock was registered as a charity and a
company limited by guarantee with charitable objects.
The trustees, who are also the directors for the purpose of company law, and who served during the year and up
to the date of signature of the financial slalements were:
Mr PAAdefarasin
MrA Oyewumi
Dr C Ujam
None of the trusteesldirectors has any beneficial interest in the company. All of the Irusteesldirectors are
members of the company and guarantee to contribute £1 in the event of a winding up.
The trustees are appointed by way of a vole and recommendalion. It is then approved by the board of trustees
through 8 simple majority.
The Trustees are eligible to appoint additional trustees under the lemis of the Article$ of Association of the
company.

HOUSE ON THE ROCK
TRUSTEES. REPORT (CONTINUED)(INCLUDING DIRECTORS, REPORT)
FOR THE YEAR ENDED 31 DECEMBER 2024
A chief executive was appointed by the trustees to manage the day-104ay operation of the charity induding
decisions making on behalf of the charity. All day-lo-day management is then delegated via the chief executive to
senior management team who, be￿6en them manage the following departrnent8'.
Worship Ministry
Special Minislry
Fellowship Ministry
The Rock Tower Office Operations
Protocol and Church R8lation8
Leadership & Organisational Development
Outreach & Communities Ministry
The senior management team consi8ts of..
Chief executive - T T Odejide
Senior manager- E Abebe
Tr8asurer- A Oyewumi
Members of the senior management team report lo the board regularly and are charged with re8ponsibility for
particular areas of operation.
The diredor8 consider the board of dlrectors, who are also the Iru¥lee8, and the 8ènior managemem te8m
comprise the key management personnel of the charity in charge of directing and controlling, runnino and
operating the charity on a day to day basis. All directors give their lime freely and no director received
remuneration in the year. The pay of Senior staff is reviewed annually by the director8.
There 18 no specific restrictions imposed by the governing docum8nl concerning the w8y the charlly can operate.
In 8ceordance with the memorandum and arti¢le$ of assoclation, the trusteesldlrector8 have the power lo make
any investment which they 88e fit.
There weffj no connected Charities other than House On The Rock in Lag08, Nigeria.
There ha8 been no commitments or guarantee8 given by the charity.
The tru8tees' report was approved by the Board of Trustees.
MrA Oyewuml
Trustee
Dated.. 16 September 2025

HOUSE ON THE ROCK
STATEMENT OF TRUSTEES, RESPONS181LITIES
FOR THE YEAR ENDED 31 DECEMBER 2024
The trustees. who are also the dlreetors of House On The Rock for the purpose of company law, are ￿sponSible for
preparing the Trustees, Report 8nd the financial statements in accordance with applicable law and United Kingdom
Accounting Standards (United Kingdom Generally A￿epted Accounting practi￿).
Company law requires the tTU8tees to prepare financial slalem8nts for each financial year which give a true and fair
view of the state of affairs of the charity and of the incoming resourc85 and application of resources, including the
income and expenditure, of the charitable company for that year.
In preparing these financial statements, the trustees are required to..
select suitable accounting policie8 and then apply them consi8tently'.
- observe the mèthods and princAples in the Charities SORP-,
- make judgements and estimates that are reasonable and prudent., and
prepare the financi81 statement8 on Ihe going concern basi8 unle8S It is inappropriate to presume Ih8t the chanty
will conlinue in operation.
The Iru8tees a￿ respon8ible for keeping adequate accounting records that disclose with ￿asOnable 8ccuracy at
any lime th8 financial position of the charity and enable them lo ensure that the financial slatemenl8 comply with the
Companies A¢1 2006. They are also responsible for safeguarding the asselg of thè charity and hence for taking
rea$onable steps for the preventlon and detection of fraud and other Irregularities.

HOUSE ON THE ROCK
INDEPENDENT AUDITOR'S REPORT
TO THE TRUSTEES OF HOUSE ON THE ROCK
Oplnlon
We have audited the financial statements of Hous8 On The Rock (the 'charily'l for the year ended 31 December
2024 which Comprise the statement of financial activities, the balance Sheet. the statement of cash flows and notes
to the fi'nancial slatemenls, including signifi¢anl accounting policies. The financial reporting framework that has been
applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial
Reporting Standard 102 The Fin8ncial Reporting Slandard applicable in the UK and Republic of Ir&land Iuniled
Kingdom Generally Accepted Accounting Practice).
In our opinion, the financial statements..
give a true and fair view of the slate of the charitable company's affairs as at 31 December 2024 and of its
incoming resources and application of resources, for the year then ended,,
have been properly p￿ pared in accordance with United Kingdom Generally Accepleé Accounling Practic8,'
and
have been p￿pafftd in accordance with the requirements of the Companies Act 2006,
81818 for oplnlon
We conducted our audit in accordance wilh International Standards on Auditing IUKI IISAS IUKII and applicable
law. Our responsibilit18$ under those standards are further described in the A(Idilor's r8sponsibilities for Ihe audit ol
the finanoial slalem&nts section of our report. We are independent of the charity in accordance with the elhical
requ1￿mentS that are relevant lo our audit ol the financial slalemenls in the UK, including the FRC'S Ethical
Standard, and we have fulfilled our other ethical responsibilitses in accordance with these requirements. We believe
that the audit eviden￿ we have obtained ig sufficient and appropriate lo provide a basis for our opinion.
Conclu81on8 relatlng to golng concern
In auditing the financial slalements, we have concluded that the Iru$tees' use of the going concem basis of
accounting in the preparation of the linancial slalemen18 18 appropriate.
Based on the work we have performed. we have not identified any material uncertainties relaling lo event8 or
conditions that, individually or collectively, may cast significant doubl on the charity's ability lo continue as a going
concern for a period of al least ￿e1ve months Irom when the financial statements are aulhori88d for issuè.
Our responsibilities and the responsibilities of the trustees wllh respect lo going ¢oncern are d88cribed in the
relevant sections of this report,
Other Inlormallon
The other infomialion comprises the information included Sn the annual report other than the financial slalemenls
and our auditor's report thereon. The Iru51ees are re8ponsible for the other information contained within the annual
report. Our opinion on the financial slalements does not cover the other information and we do not express any form
of assurance conclusion Ihereon. Our responsibility is to read the other information and, in doing so, consider
whether the other information is materially inconsistent with the financial slalemenls or our knowledge obtained in
the course of the audit, or olhemise appears lo be materially misslaled. If we identify such material inconsislencies
or apparent material misslalemenls, we are required lo determine whether this gives rise to a malerwl misslalement
in the financial slalemenls themselves, If, based on the work we have performed, we conclude that there is a
material misstalemenl of this other infonnalion, we are required to report that fact.
We have nothing to report in this regard.
Matters on whlch we are requlred to report by exceptlon
We have nothing lo report in respect ol the following matlers in relation to which the Charities (Accounts and
Reports) Regulations 2008 requires us to report to you if, in our opinlon..
the infomiation given in the financial statement5 is inconsistent in any material ￿SpeCt wilh the trustees,
report,. or
sufficient accounting records have nol been kept., or
Ihe financial slalemenls are not in agreement with the accounts'ng records.. or
we have not received all the information and explanations we require for our audit.

HOUSE ON THE ROCK
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF HOUSE ON THE ROCK
Responslbllttles of trustees
As explained more fully in the statement of trustees, responsibilities, the trustees. who are also the directors of the
charity for the purpose of company law, are responsible for the preparalion of the financial statements and for being
satisfied Ihat they give 8 true and fair view, and for such inlemal control as the Iruslees determine 1$ necessary to
enable the preparation of financial slatemenls that are free Irom material misstatement, whether due to fraud or
error. In preparing the financial slatemenls, Ihe Iruslees are responsible for assessing the charity's ability lo
continue as a going concern, disclosing, as applicable, mallers related lo going concern and using Ihe going
concern basis of a¢¢ounling unless the trustees 81ther intend to liquidate the charitable company or to cease
operations, or have no re81isti¢ allernalive bul lo do so.
Audttorfs re8ponslbllllle8 for the audlt of the flnanclal 8tatements
We have been appointed a8 auditor under section 144 of the Charities Act 2011 and report in accordance wrth the
Act and relevant wulations made or having effect Ihereunder.
Our objectives are to obtain reasonable assurance about whether the fin8ncial slalemenls as a whob are freè from
malerial misslatemenl. whether due lo fraud or error, and lo issue an auditor's report that includes our opinion.
Reasonable assuranr£ is a high level of assurance bul is not a guarantee that an audit conducted in accoidan
with ISAS IUKI will always detect a material mis8lalement when il exists. Misslatemenls can arise from fraud or
effor and are considered material if, individually or in the aggregate, they could reasonably be expected to influence
the economic decisions of users taken on the basis of these financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud, is delailed below.
Based on our understanding of the company and industry in which it operates. we identified the risk of non-
compliance with key laws and ￿gUlationS which included Companies Act 2006 and lax le9islalion and we
considered the extent lo which non-￿mplianee might have a material effect in the financial slalemenls.
We also add￿ssed the risk of fraud through management override of controls. We lesled the approprlallon of
journal entries and other adjustments 8nd evaluate whether there was evidence of potential bias. The risk of not
delecling a material misslalemenl due to Iraud is higher than the risk ol not deleding one resulting from error, a8
fraud may involve deliberate concealmént by, for example, forgery or inlenlional misrepre$entstion$, or Ihrou9h
collusion.
In addition lo the abovè, our procedures lo respond to the risks identified included Ihe followlng..
Reviewing financial statements disclosures by testing lo supporting documentation lo assess compliance
with applicable laws and regulation,.
Enquiry of management. those charged with governance around actual and potential liligalions and claims..
Enquiry of entity staff lo identrfy any instan￿$ of non compliance with laws and regulations and fraud.,
Perfoming analytical procedures to identify any unusual or unexpected relationships that indicate risk of
material misstatements due to fraud.
There are inherent limitations in the audit procedures described above. We are legs likely lo b&come aware of non-
compliance with laws and regulations that are not closely related to events and transaction8 reflected in the financial
statements.
We communicate with those charged with govemance regarding, among other matters, the planned scope and
timing of the audit and Significant audit findings, including any signifi'cant deficiencies in intemal control that we
identify during our audit.
A further description of our responsibilities is available on the Financial Reporting Council's website at". https.'Il
www.frc.org.uklauditorsresponsibililies. This description fonms part of our audilorfs report.

HOUSE ON THE ROCK
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF HOUSE ON THE ROCK
This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts
and Reports) Regulations 2008. Our audit worf( has been undertaken so that we mighl state to the charity's trustees
those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent
pemiitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's
trustees as a body, for our audit worf(, for this report, or for the opinions we have formed.
(Senior Statutory Audltor)
For and on behalf of D Lee & Co, Statutory Auditor
Chartered Certified Accountanls
2nd Floor. Prernier House
309 Ballards Lane
London
N12 8LY
Date..
11.IOy.Ivy-.
D Lèe & Co Is eligible for appointment as auditor of the charity by vlrtue of its eligibility for appointment as auditor of
company under Section 1212 of the Companies Act 2006.

HOUSE ON THE ROCK
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2024
Unrestricted Ro$lrfcted
funds
funds
2024
2024
Totsl Unr98tricted Regtrlcted
funds
funds
2023
2023
Totsl
2024
2023
Not08
Income and endowment• from:
Donations and legacies
Other trading activities
Investments
Other income
527,501
693
106,269
86.291
613,792
693
106,269
522,329
204
130,767
4,270
20,875
543.204
204
130,767
4,270
Total Incomo
634,463
86,291
720,754
657.570
20,875
678,445
EXp0ndl￿re on:
Raising funds
Charftable activities
31,840
633,703
3,836
93.039
35,676
726,742
27,664
665,707
27,664
702.227
36,520
Total •xpendltur•
665.543
96,875
762.418
693,371
36,520
729.891
Net expendlture and
movement In fund$
131,080)
110,584)
141,6641
135,8011
115,6451
151,4461
Reconclllatlon of fund8:
Fund balance8 811 January
2024
2,120,557
510,636 2,631,193
2,156,358
526,281 2,682,639
Fund balanc•8 at 31
0è¢gmber 2024
2,089,477
500,052 2.Jf89.529
2.120,557
510,636 2,631.193
The statement of financial activities Includes all gain8 and108ses recognlsed In the yèar, All incomè and expendlture
derive from continuing activities.
10-

HOUSE ON THE ROCK
BALANCE SHEET
AS AT 31 DECEMBER 2024
2024
2023
Note•
Flxed a880ts
Tangible assets
14
5,076,394
5,223,320
Current a88ets
Debtor8
Cash at bank and in hand
16
5,979
31,085
12,522
31,802
37,064
44,324
Credltor8: omount• falllng due wlthln
on• y•ar
18
{782,9191
{777,2101
N•t current Ilabllltles
(745,8551
1732,8861
Totsl •••ots 1088 currnnt Ilabllltlo8
4,330,539
4,490,434
Crèdltorn: amount8 f•lllng due 4ft•r
mor• thin one year
19
{1,741,0101
11,859,241 }
Not a880ts
2,589,529
2,631,193
The lund• of tho ch•rlty
Re81ricted income funds
Unr88tricted funds
21
22
500,052
2,089,477
510,636
2.120,557
2,589,529
2,631.193
The company is entitled to the exemption from the audlt requlremenl ¢ontained in 8e¢lSon 477 of thè Companies Act
2006, for the year ended 31 December 2024.
The dlreclors acknowledge their responsibilitie8 for complying with the requiremenls of the Comp8ni85 Act 2006
with respect to accounting records and the preparation of financial statements.
The members have not required the company lo obtain an audil of its financial slalements under the requlrements
of the Companies Act 2006, for the year in questlon in accordance with section 476.
These financi81 slalemenls have been preparéd in accordance with the provision5 applicable to companies subject
to the small companies règime.
The finanaal 8tatements were approved by thè trustees on 16 September 2025
MrA Oyewumi
Trn8ts0
Company regi8lralion number 4824843 {England and Wales)
11

HOUSE ON THE ROCK
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2024
2024
2023
Notes
Ca8h flows from operatlng acllvltles
Cash generated fromllab$orbed by)
operations
27
14,032
{24,7261
Investlng a¢llvlllo8
Purchase of tangible fixed assets
Invesfment income received
17,4301
106,269
130.767
Net ca8h generated from Inve8llng acthihl&•
98,839
130,767
Flnan¢lng acllvltl•8
Repayment of bank loans
1113,588)
1108,9571
Nel ¢a8h usod In flnanclng actlvllle8
(113,588)
{108,9571
Net d8¢r•••e In cash and cash eqtslval•nts
(717)
(2,9161
Ca8h and cash equivalents at beginning of year
31,802
34,718
Cash •nd cash equlvalents at end of year
31,085
31,802
12-

HOUSE ON THE ROCK
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Accountlng pollcles
Charlty Inforfflatlon
House On The Rock is a private company limited by guarantee incorporated in England and Wales. The
registered office 15 The Rock Tower. 49 Tufnell Park Road, London. N7 OPS.
1.1 A¢¢ountlng conventlon
The h'nan¢ial statements have been prepa￿d in accordance with the charity's Act 2011, the Companies Act
2006 and Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo
chanlies preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK
and Republic ol Ire18nd IFRS 102} leffeclive 1 January 20191" The charity is a Public Benefit Entrty as
defined by FRS 102.
The financial slalemenls are prepared in Sterling, which is the functional currency of Ihe charity. Monetary
amounts in these financial 81alements are rounded to the nearest £.
The financial statemen15 have been prepared under the hi8loncal cost convèntion. The princlpal aLxounling
policies adopted ar8 sèl out below.
1.2 Golng Concorn
Al the lirne of approving the financial stalemenls, the Iruslee5 have a reasonable expectation that the charity
has adequate resources lo continue in operational existence for the foreseeable future. Thus the trustees
continue to adopt the going concern basis of accounting in preparing the financial slatemenls,
Thege accounts have been prepared on the going concem basis a8 the trustees will arrange for a bank
overdraft facility to cover for Short term cash flow requirement. if required.
1.3 Charltablè funds
Unreslricled funds are available for use al the discretion of the Ini8tee8 in furtherance of Ih&lr charitable
objectives.
Reslricled fund$ are subject lo specific condrtions by donors as lo how they may be used. Thè purpl￿e8 and
uses of the reslriclèd funds are sel out in the notes to the accounts.
Endowment lunds are subject to specilic conditions by donors that the ¢apilal musl be maintained by the
charity,
1A In¢omlng resources
Income is recognised when the charily is legally entitled to it after any performance conditions have been met,
the amounts can be Measu￿ d reliably, and it is probable that income will be ￿CeIved.
Cash donations are recognised on receipt. Other donations aR recognised once the charity has been notified
of the donation, unless perfornian￿ conditions require deferral of the amount. Income lax ￿CoVerable in
relation lo donaliong received under GiftAid or deeds of covenant is recognised at the lime ol the donation.
Donations, gift and similar incoming resources are included in the year in which they a￿ receivable. which is
when the Charity becomes entitled to the resource.
1.6 Resourc&8 expanded
All expenditure Is accounted foi on an accruals basis and has been classified under headings thal aggregate
811 costs related lo the category. Expenditure is recognised where there is a legal or constructive obligation to
make payments lo third parties, il is probable that the selllemenl will be required and the amount ol the
obligation can be measured reliably.
13-

HOUSE ON THE ROCK
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Accountlng pollclei
{Contlnued)
Resources expended are allocated to the charitable company's principal activity as direct costs where the
costs can be identified as being diredly related lo that aclivily. All costs that cannot be identified as relating
dI￿¢11Y lo the charitable company's principal activity are calegorised as either support costs or governance
costs. Any costs that cannot be specifically categorised are allocated in proportions based upon a suitable
ratio applicable lo the nature of the cost involved.
Support Costs are those that assist the work of the charity but do not directly represenl charitable activities
and include office costs, finance, governance costs and 818ff cost.
Governan￿ co818 are those inGurr8d in connection with adminislralion of the charity and Complian￿ of
conslilulional and Statutory requirements.
1.6 Tanglbl• flxed assets
Tangible fixed asset8 are initially measured al cost and subsequently megsured al cosl or valuation, nel of
depreciation and any impairment losses.
Depre¢ialion is recognised so a8 to write off the cost or valuation of a86ets less their residual values over their
useful lives on the following bases.,
Freehold land and buildings
Fixtures, fillings & equiprnenl
2Vo on straight Ilne
25 /0 on reduang balance
The gain or loss arising on the disposal of an agsel is determined as the difference between the sale
proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
1.7 Impalmient of flxed a88ets
Al each ￿porting end date, the charity reviews the carrylng amounts of ils tangible assets lo determine
whether the￿ is any indication that those assets have suffered an Impairment loss, If 8ny such Ind￿allOn
exists. the recoverable amount of the agsel is eslSmalèd in order lo delemine the extent of the impaim)ent
loss (if any).
1.8 Cagh and cash equlvalents
Cash and cash equivalents include cash in hand. deposits held at call with banks, other short-lerm liquid
investments with original maturitie5 of three months or less, and bank overdrafts. Bank overdrafts are Shown
within borrowings in current liabilities.
1.9 Flnan¢lal In8truments
The charity has elected to apply the provisions of Section 11 'Basi¢ Financial Inslrumenls, and Section 12
'Other Financial Instruments Issu&s' of FRS 102 10 all of its financial inslrumenls.
Financial inglrurnenls are recognised in the charity's balance sheet when the charity becomes party to the
contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial slalements, when
there is a legally enfor￿able right lo sel off the recognised amounts and the￿ is an intention to Settle on
nel basis or lo realise the as5el and Sett￿ the liability simultaneously.
Baslc flnanclal assets
Basic financial assets, which include debtors and cash and bank balances. are initially measured
transaction price including transaction costs and are subsequently carried at amortised cost using the
effective interest method unless the arrangement constitutes a financing Iransaclion, where the transaction is
measured al the present value ol the future receipts discounted at a market rale of interest. Financial assets
classified as re￿iVable within one year are not amortised.
14-

HOUSE ON THE ROCK
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Accountlng pollclos
{Continued}
Baslc flnan¢lal Ilabilities
Basic financial liabilities, including ciedrtors and bank loans are initially reco9nised al transaction price unless
the arrangement constitutes 8 fin8ncing Iransaclion, where the debt instrument is measured al the present
value of the future payments discounted al a market rale of inte￿St. Financial liabilities classified as payable
within one year are not amortised.
Debt instruments are subsequèntly carried at amortised cost, using the effe¢tive inter851 ratè mèthod.
Trade creditors ar8 obligations lo pay for goods or servlces that have been acqulred in the ordinary course of
operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one
year or less. If not. they are presented 85 non-currenl liabilities. Trade oredilors are recognised initially at
transaction price and subsequently measured al amortl8ed cost using the effective interest method.
Derecognltlon of Ilnenclal Ilabllltles
Financial liabilities are derecognised when the charity'8 contractual obligations expire or are discharg&d or
cancelled.
1.10 Employeo beneflts
The cost of any unused holiday enlillemenl is recognised in the period in which the employee'5 services are
received.
Termination benefits are recogrnised immediately as an expense when the charity is demonstrably committed
to terminate the employment of an employee or to provide termination benefits,
1.11 Ratlrement beneflts
Payments lo defined contribution retirement benefit Schemes are charged as an expense as they fall due.
1.12 Fund accountlng
lilThe Charity's unrestricted general fund consists of funds which can be u8ed in ac¢ordanc8 with the
charitable objec18 at the discretion of the trustees.
liilThe Charity's restricted funds are funds that can be used for partlcular restricted purposes withln the
objects of the charity, Restriction arise when Specified by the donor or when funds are raised for particular
restricted purposes,
1.13 Value added lax
Value added lax incurred for the cost and expendilure of the freehold property has been claimed al fifty seven
per¢enl of th8 residual costs of the property costs.
Crltlcal a¢¢ountlng e8tlmat•8 and Judgernent8
In the application of the ¢harity'5 accounting policies, the trustees are required lo make judgements, estimates
and assumption5 about the carrying amount of assets and liabilitie5 that are not readily apparent from other
sources. The estimates and associated assumptions are based on historical experience and other factors that
are considered to be relevant. Actual results may differ from these estimates.
The eslimales and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting
eslimales are recognised in the period in which the estimate is revised where the revision affects only that
period, or in the period of the revision and future periods where the revision affects both current and fulure
periods.
15-

HOUSE ON THE ROCK
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Income from don4tlon• and legacl•8
Unr08trlcted Re8trl¢ted
fund8
funds
2024
2024
Totsl Unre8trlctsd Re•trlctsd
fund8
funds
2023
2023
Total
2024
2023
Oonalion8 and gifts
Gran18
527,501
16,130
70,161
543,631
70,161
522,329
20,875
543,204
527,501
86,291
813,792
522.329
20,875
543,204
Incom• from other tradlng •ctlvltlo•
Unr•$trlctod Unro8trlcled
funds
fund8
2024
2023
Non-charitable trading 8ctlvllle8
693
204
Income Irom Invostments
Unrn8trl¢ted Unr08trlcted
fund8
fund8
2024
2023
Rental income
Interest receivable
105,976
293
130,585
182
106,269
130.767
Other Income
2024
2023
Insurance proceeds
4,270
16-

HOUSE ON THE ROCK
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Expènditure on ralalng funds
Unrèstricted Restrlcted
funds
fund•
2024
2024
Totsl Unrestrlct8d Re8trl¢led
fund8
fund8
2023
2023
Totsl
2024
2023
Fund ral8lng and publlclty cost
Advérti$ing
31.840
3,836
35,676
27,664
27,664
8 Charltablo •ctlvltl••
Rellgloug Food bank
actlvltles
2024
Total Rallglou•
2024
•cllvltlo•
2023
2024
Slaff c08tS
Depreciation and impairrnenl
Religiou8 aclivilie8
63,378
147,595
133,368
5,247
1,756
28,125
88,625
149,351
161,493
58,692
147.595
149,151
344,341
35,128
379,469
355,438
Share of 8UPPOrt CO8ls (see note 10}
Share of governance c0818 (see note 10)
261,590
60,132
15,496
10,055
277,086
70,187
293,059
53.730
666,063
60,679
726,742
702,227
Analy818 by fund
Unrèstricted funds
Restricted funds
633,703
32,360
633,703
93,039
665,707
36,520
60,679
666,063
80,679
726,742
702.227
For the yaar •nd•d 31 D•comb•r 2023
Unrestricted funds
Reslricled fvnds
665,707
36,520
702,227
Charllable actlvlty
The charitable activity continued lo be that of religious activities and also carried out a one off food bank
project.
17-

HOUSE ON THE ROCK
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
10 Support costs allocatsd to actlvltlos
2024
2023
staff costs
Depreciation
Rates and utilities CO8t8
Oiher direct cost
Bank charges and b8nk loan interest
Travelling
Telephone
Insurance
Cleaning costs
Computer expenses
Govemance co818
92,089
5,005
41.526
1,075
104,116
6.537
50,329
868
li
83.010
9,360
3,059
11,256
21,234
9,472
70,187
88,227
3,849
4,258
8,503
18,830
7,542
53,730
347.273
346.789
Analy8ed botween..
Chanlabl8 activitie8
Food bank
321,722
25,551
348,789
347,273
346.789
2024
2023
Governance costs comprlso:
Slaff c08ts
Audit fee6
Accountancy
Legal and profe88ional
44.117
4.000
6,350
15.720
39,318
4,000
6.775
3,637
70,187
53,730
11 Net movomènt In funds
2024
2023
The net movemenl in funds is stated after charging/{creditingl'.
Fees payable for the audit of the charity'8 financial stalements
Depreciation of owned tangible fixed assets
4,000
154,356
4,000
154,132
12 Trustses
None of the trustees lor any persons connected with them) received any remuneration during the year (2023:
£nill.
None of the Iruslees had any expense8 reimbursed or paid for by the charity during the year (2023.. £nill.
18-

HOUSE ON THE ROCK
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
13 Employees
The average monthly number of employees during the year was..
2024
Number
2023
Number
Religious
Administration
Total
Employment costs
2024
2023
Wages and salarles
Social security costs
other pension costs
181.198
18,084
5,549
182,876
13,961
5,289
204,831
202,126
The numbar of employea$ whose annual remuneration wa8 MO￿ than £60,000
is a8 lollows..
2024
Number
2023
Number
£80,00110 £70,￿0
Conlribulion8 totalling £1,194 {2023'. £- I were made lo defined contribution penslon schemes on behalf of
employees wh08e emoluments exceed £60.000.
Remunèratlon of key managemént pernonnel
The remuneration of key management personnel wa8 a8 follows=
2024
2023
Aggregate compensation
61,715
60,330
19-

HOUSE ON THE ROCK
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
14 Tangibl• fixed a88ets
Freehold land
and bulldlng8
Flxtvr••,
litting• &
•qulpm8nt
Total
Cost
At 1 January 2024
Additions
7,379,754
661,374 8,041.128
7,430
7,430
At 31 December 2024
7,379.754
868,804 8,048,558
Depreclallon and Impllrment
Al 1 January 2024
Depreciatlon charged in the year
2,176.048
147,595
641,762 2,817,808
6,761
154,356
At 31 December 2024
2.323,641
648,523 2,972.164
Carrylng amount
Al 31 OerAmber 2024
5,056,113
20.281
5,076,394
At 31 08￿mber 2023
5,203,708
19,612 5,223,320
16 Flnanclal Instruments
2024
2023
Carrylng omount of flnanclal a88ets
Debt instruments measured at amortis8d cost
5,328
10,564
Carrylng amount of flnanclal Ilabllltle8
Measured al 8mort18ed cost
2,513,786
2,625.062
18 Debtor8
2024
2023
Amounts falllng duo wlthln ono y••r:
Trade debtor8
Other deblorg
Prepayment5 and 8¢crued income
5,813
4,751
1,958
5,328
651
5,979
12.522
-20-

HOUSE ON THE ROCK
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
17 Loan8 and ov•rdrafts
2024
2023
Bank loans
1,854.605
1,968.193
P8y8ble within one year
Payable after one year
113,595
1,741,010
108.952
1,859,241
Amounts included above which fall dua after five year8..
Payable by inslalmenls
1.127,168
1,240,756
The bank loan 18 8ecured by a first legal mortgage over the freehold property known as Sl Gèorge's Theatre,
49 Tufnell Park Road, London, London N7 OPS
The loan is repayable by equal instalmenl over 20 years and It15 renewable every 5 years. The rale of interest
is 2.10 above the base rate
18 Crodltorn." amount• falllng duo wlthln one year
2024
2023
NoteB
Bank loan8
Other taxation and social security
Trade creditors
Other creditors
Accruals and deferred income
17
113,595
10.143
645,936
9,335
3,910
108,952
11,389
649,569
3,390
3,910
782,919
777,210
19 Crodltor8: amounts falllng duo after more than onè ye•r
2024
2023
Notss
Bank loans
17
1,741,010
1,859,241
20 Retlremenl beneflt 8chome8
2024
2023
Deflned Contrlbution schemes
Charge to profit or108s in respect of defined contribution schemes
5.549
5,289
The charity operates a d8fined contribution pension scheme for all qualifying employees. The assels of the
Scheme are held separately from those of the charity in an independently adminislered fund.
21

HOUSE ON THE ROCK
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
21 Restrleted fvnd8
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust
subject lo specific conditions by donors as to how they may be used.
At 1 January
2024
Incomlng
resource8
Re80urces
oxpondod
At31
December
2024
Land and building
Foodbank
510,636
16,130
70,161
132.3601
164.5151
494,406
510,636
86.291
196,8751
500.052
Provlou8 year..
Al 1 January
2023
Incomlng
ro8ource•
Ro•ourco8
8xp•nd•d
At31
December
2023
Land and building
526,281
20,875
136,5201
510,638
The above reslricled funds comprises of £493,000 tangible assets in relation to the purchase of property in
Tufnell Park Road, London N7 OPS and current 8588ts amounting to £891. The available fund8 will be used
predominantly for the ￿ novalion of the above property.
The reslricled fund also include £5,272 of tangible asse18 related to food bank and net currenl 8sse18
amounting to £374,
22 Unrgotrlcted fund8
The unreslricted funds of the eharily comprise the unexpended balance8 of donations and grants whlch are
not subject to Specific conditions by donor8 and grantors as ID how they may be used. These include
designated funds which have been sel aside out of unrestricted fvnds by the trust8es for specific purposes.
At 1 January
2024
Incomlng
resourc•8
Resources
expgnded
A131
December
2024
General funds
2,120.557
634.463
1665,543)
2,089,477
Prèvlou8 year:
At 1 January
2023
Incomlng
re$ource8
Resouree8
Oxpended
At31
December
2023
General funds
2,156,358
657,570
1693,371)
2,120,557

HOUSE ON THE ROCK
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
23 Analysis of net as8et8 between fund8
Unre8trlcted
funds
2024
Rostrlct•d
funds
2024
Total
2024
At 31 Docombor 2024:
Tangible as8ets
Current a55et511liabililiesl
Long term liabilities
4.577.607
1747.120}
11,741,010)
498,787
1,265
5.076,394
1745,855)
11,741,010>
2,089,477
500.052
2,589,529
Unre8trSct•d
fund8
2023
Re•trl¢ted
funds
2023
Total
2023
At 31 Decembor 2023..
Tangible assets
Current asset81lliabililiesl
Long term liabilities
4,715,320
{735,5221
11,859,241)
508.000
2,636
5.223,320
1732,886}
11,859,241)
2,120,557
510,636
2,631.193
24 FlnAnclo1 commllmonts, guaranteos and contlngent Ilabllltle•
There were no financial commilmenls, guarantees or contingent liabilitieB at the year end,
25 Capltal commltm•nt•
Amounts contracted for but not provid&d in the financial $latements'.
There no capital commitments eithèr aulhori8ed by the board or contracted for al the balance sheet
date.
26 Related party trin¥•ctlon8
There were no disclosable related party transaction$ during the year12023 - none).
-23-

HOUSE ON THE ROCK
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
27 Cash generated froml{ab8orbed by) operatlon8
2024
2023
Deficit for the year
141,6641
{51,4481
AdJu8tments for.
Investment income recognised in statement of financial activities
Depreciation and impairment of tangible fixed a88els
{106,269)
154,356
1130,7671
154,132
Movements In worklng capltal:
D8creasel{increa8el in debtor8
Increase in cr8dito
6,543
1,066
15.302}
8.657
Ca8h generated fromllab$orb•d by} operallons
14,032
(24,7261
28 Anoly818 of ¢hange8 In not Idebtyfund•
At 1 J•nu&ry
2024
C••h flow• At 31 D*C•m￿r
2024
C88h at bank and in hand
31,802
{717)
31,085
Loans falling due within one year
L08n8 falling due after more than one year
1108,9521
11,859,241)
(4,6431
118,231
1113,595)
11,741,010)
{1,936,3911
112.871
11,823,520)
24-