Company Re8lStration No: 04781182 England and Wales No.. 1105659 Scotland No.. SC 042715 SALEM INTERNATIONAL CHRISTIAN CENTRE LTD (A company limited by guarantee) FINANCIAL STATEMENT AND TRUSTEES REPORT FOR TWELVE MONTHS PERIOD ENDED 31 DECEMBER 2022
SALEM INTERNATIONAL CHRISTIAN CENfRE CHARITY NO- 1105659; SC042705 | COIKPAI¥Y NO- 04781182 Trustee's annual report from the period $tarling OA411-2022 to 31-12-2022 The truste¢s (who are also directors for the purwses of company law) confirni thai the annual report and financial staternent of the company comply with cutTenl statutory requirements of the company's governing document and the provisions of the Statem¢nl of Recommended Practise (SORP) "Accounting and Rep)rting by Charities" issued in March 2005 and also is in line with the tenns of the charities and Trustees Investment (Scotland) 2(K)5 and the Charities Accounts (Scotland) Regulation 2006. Objeetive and Activiti The express purpose of the Church is the caring and teaching of its members and the advancing of the Christian faith by mobilising its members lo serve in every sphere of th¢ Social Society. The church stated vision is to see the Nations transfornied by the glory of God to place where J¢sus Christ is recognised &8 Lord. This is accomplished by working together with other life giving churches and charilies and by mobilising people with Godly character and principles to serve in th¢ sphere of influence of society namely: The churc14 edatIOn, govemmenL m¢di4 arts & entertainment, business, sport and social society. The Church's principal objectives also include ensurin8 promoting church activities for such other pufFKJses for the benefit of community according to the laws of England and Wales on one hand and Scotland on the other hand as may from time to time be detennined. Struetur& governance and mADag¢ment The organisation is a charitable company limited by guarantee, incorporated on 29 May 2003, and registerd as charity on 27th August 2004, and was merged with Foundation Faith church an older charity registered in December 2001 in April 2010. The company was established under a Memorandum of Association which established the objwts and wwers of the charitable company and is governed under its Articles of Association. Salem International Christian Centr¢ is a fatnily of churches with Ministry IcKations in many citi¢s of Nigeri4 USA (Ho$tOn), England, Wales, North¢rn Islan(L and Scotland. Salem International Christian Centre is a Pentecostal &ssm)bly and is a member of Trans Atlantic, and Pacific Alliance of churches (TAPAC) which is a member of the churches together in Britain and Ireland. Her activities are directed and C04)rdinated from the Provincial headquarters located at:
SALEM INTERNATIONAL CHRISTIAN CENTRE CHARITY NO - 1105659: SC042705 I COMPANY NO- 04781182 Unit I IC, New Horizon Business Centre The Pinn1¢$ Barrnws Road Harlow CM19 5FN Trustees and Management The directors who are also Trustees for purpose of Charity law. who served during the year and up to date of this report are set are: Bishop David Onimisi - Chairn]an Reverend Sylvester Dima-okojie Rcverend Henry Edeko . Secretary The directors elect trustees and they meet as required, together with members of the managemenL to gcn¢rally manage the affairs of the charity. New trustees are familiarised with th¢ charities legal documents, thcir Icgal responsibilities and the objectives and finances of the charity. Related partl Salem UK is part of the Salem family worldwide, founded by the Archbishop Sam Amw a reputable man of integrity and a man of faith. His invaluable contribution in conjunction with the Board of Tntstees here in UK has seen to the stability of the work. A¢bievemeDts *nd Perf0rn14nc¢s Sincc its inception the church has grow) and currently comprises: A registered membership of over 3,850 living in Londoo Harlow, Kent, ShetTiel(L PlymoutM southampto Cardiff, Belfast, Glasgow, Aberdeen and Edinburgh and Weekly Sunday Service with an attendance of 500 and abov¢ at the Hedaquarter church. Smaller group fellowships durin8 the week. University Campus fellowsbips in eight Universities within England and three Universities in Scotland. Dynamic street fellowship aim at capturing and rehabilitating etrant youth. Ii
SALEM INTERNATIONAL CHIUSTIAN CENTRE CHARITY NO - 110%59; SC042705 1 COMPANY NO- 04781182 An established pastoral care rtetwo through the small group structures; Training and equipping the various age groups for ministy work Small groups leadership skill development classes. We lake our foodbank to a new dimension by organising onlin¢ registration and collection of find items. helping us to reach wider audience. Marriage and pre marriag¢ counselling Providing care to the poor and handicapped.. Food banK mercy day during which essential items like clothes and oth¢T forn of apparel are handed to those in need. Also provide quarterly fir¢ h¢alth check to the commmunity. Prison and hospitsl ministy to reach out and comfort people in confinement or sick. Two churches were planted in South London and Plymouth in 2021 Extensive renovation of the church prom purchased in 2016 was completed in 2021. Had fixed air conditioning rystem, complete dry lining of all the wa]Is, provision of conveniences and decorations plus installation of a 13- passenger lift to get people to the worship hall. The renovation work has added value to the propety and a rough estim now put the value of the property at over £2,0(K).000. New branches has been planted in Cardiff- Wales and in B¢lfasi- Northern Ireland Our church branch¢s in Edinburgh and Aberdeen have IK)th Iated church propKrty to buy, and application are being made to bank to secwe loan for the purchase. FinAnelAI Revleiv A) Finnet Statement Total income for the year at December 31. 2022, totslled £534,035 &5 against £466,879 in 2021. Total ¢xpenses incurred with sam¢ p¢riod being £478,857 as against £409,620 in 2021. Oul of the total expenditure for the year of £478,857 an amount of £40.243 was spent on repairs and maintenance of the prOrtY, £164,354 spenl on wages and staff salary which includes £40,416 paid &8 salary to one of the trustees, Bishop David Onimisi, who is the h¢ad Pastor and the Bishop in charge of Europe Continent. B) Penslon The church also has a pension scheme for the staff with True Pofrntiai. C) Financial position The church is financially stable. IIE
SALEM INTERNATIONAL CHRISTIAN CENTRE CHARITY NO - 1105659; SC042705 1 COMPANY NO- 04781182 D) Reserve Poliey The charity h&$ pennitted reserves to build up kn the necessity of allowing for future expansion and development. It is also the charity's ¢xpress desire to see the designated reserves built up to a substantial level. The reserve as at 31, December 2022 is £395,360. E) Future adivitie It is our airn to plant more churches in the South East and West of London to reach out onto more people that can be discipl¢ for our Lord Jesus. We will also be planting two churches in two different Citi of Wale4 three more in England and two in Scotland. We intend to reach out to more Universities especially in the South East of England to satisfy the spiritual hunger in the younger on¢s. We intend to reStntllre our propw to make spaces for youth a¢tivities, Single Parents forum, churchlcommunity inlegration, and rehabilitation of errant kids through helping them to discover and utilise their given gifts. We intend to complete on the ongoing mortgage facility with S*wardship bank for the purchase of our church property in Edinburgh Scotland. We intend to s0 sca¢ mortgage approval from Siewardship bank for the purchase of another church property in Aberdeen Scotland. Declarations This report has been prepared in accordanc¢ with the Statement of Recommended Practise - Accounting and ReTM)rting by Charities (issued March 2005) and in accordance with the special provisions of Section 415A of the Companies Act 2006 lating to small companies and in accordance with Regulation I l of the Charities Account {Scotland) 2(MJ6. The trustees declare that they have approved the trustee's rert thve. sId on behalf of th Signatur¢ Full Name STrtrf p bkuic) (atsJirwiSI Position Date 40-0s-au23 Iv
SALEM INTERNATIONAL CHRISTIAN CETrrnIE ADMI RATIVE DETAILS Th? tm8tee8 preaent their annual aTrJ finarKi81 reviv endeA1 31 December 2022. The acujunts ctsnpty wth ts statutory rwuirements of the CharS 90MIng dO[l istsred and P051al a(hJ Unrt 11 C New Horizon Business Cerrtre Th& Plnnados Barrowa Road Harrow, Essex CM19 5FN S&M International ¢hrisb'8n centre is c($10 8 • i*arilaL48 register&J wth th• Charity Crynmi95ion and OSCR. 11 * a(kninwlerwJ uThJ8r ¢onsts'tubon, has bo8n 8pwovod by the Chanty Commw England & Waltss 1105859 Sc0nd SC042715 81$h¢p D•vld Onlm Henry Ed8ko Rev. SfvoBtsr Dima- OW Arthbishop Sam Ama90 8bhop DthJ Onknl Barclays Bank Pk Ethv8rd Consulting ts'mited Chartered M3n89oment Accountants Fllth floor RcKrfn 12. Cty Gale Hou80 248.250 Romford Road London E7 gH2 Py14
SALEM INTERNATrONAL CHRISTIAN CEPfflIE Rasults for ar In tha year unde takings amounted lo £534,015 against £486,879 in 2021 Exp8ndibJrg in¢r8ased to £478,857 in 2022 as to £409.620 in 2021 Out ofthe tot81 •Xpendre lor the year of£478,857 an of £40.243¥AS SP)t on Tgpair¥ and Maint8r to thg Fit)and I Fund balanc88 at th? end of tho year tolBI £395.380 ts 2022 as 3alrot £340.182 for 2021. The trustees b•li•v¢ the thwity uJntr"nu• lo 8oldy on it8 membetsh and fn"8nds lor ftnonual SUFWL STATEMENT OF TRUSTEES RESPONSIBILMES Th& tharity law requ the tntst8&s to prepare T81 stslomnts fty ¢ath firjaI P8rfod, which 9ive a tn l•ir vw of tho church 8ThJ of thg eXC8BS or defiat of tr church for that rfo. IA prep8ring thosè finonts¥l ststem8nis. trustw arts wulr1 Setht 8Urtable arLwnb'rrfJ 8nd then y o)n8tytty' ludgernents and 88tunth It are Tnat49 and pnthnt Cornpty wth 8pplicJle attounting pcdicies sutc# to any matort91 disdosed and •XF481n1 in financial slat8monts.' orwj Prepar• tprtè financigl stalThnts on (Tr9r1d (xmhxn bg81s In•)Kryri•t• to Itwl tt thurth ¢))ntin wration. Thè tru¥toe8 aro ro8ponsiblg for kewrvJ prowr Ix(&8 ol acwuntlng r8cJJth, disdose wjth alacY at any tim th• financAal poth.on ofthtr thurth aTrJ to enab thom to $n8ure that the finandal 8tstwnts Lxjmpty wth ts ChaTrbeJ' Act. T are also responwbb lor 8al•gu8rdiry ts awls ol ¢harity and henca for tski r•8aonabK 8teps for th8 pr•v•ntK)n and detet offraKI oTrJ 0r irr•gulantiM. Edward Con8ultlng Limrt•J h8¥• 8hanlfied Iheir illiTrJM88 to &tinue to off•r t in thls ¢JSr8clon a1 ¥ resolutlon WOFQ91n9 thelr rnappointm•nt wll bg Bubmitt•d ot th8 Annual Gera1 M8•b"rvJ. Thy8 report W88 •rwobd by Ih Tnio88 M••Yng of 30th Warrthr2023 wbJ on th8ir Fin8n(aal 34-¥9-ZZ Py14
SALEM INTERNATIONAL CHRk8TIAN CEIIYRE INDEPENDENT EXAMINER'S REPORT TO THE MEMBERS OF S4LEM INTERNATIONAL CHRISTIAN CEKfRE We rep)rt on Ihe fina1 ststerrerts of thg dwrth for yw 31Dec8mtr 2022. whlch ara Sat out on p8geB 5 to 10 Respecl've responsibilths of trustees and iThJndenI exAminer. As th8 charity's trust you S reBwJrtsb for thè wq>#ratirm of ts aCInIS,. gr you consKlèr Ihat the awjit Wulrn8nI of 43(2} of th8 d)anb8s act 1993 Itt adl does not apply It18 our tssponsbilty as •xzthn8ts of th& 8XIun. to Slate ¢)n thè bosil of prcrwtre spa¢ifigd in the general dirtLons gNen by th8 charty tsJmmi8s•Jrrs urKIw 8ection 43(7llbl ol gct, wr p8rb¢>Jlw matt•r h98 lo ratten1 Our ox8minabon was e8m8d crtrt in aco)rdance g8rral direcaions given by th• ¢harity comm1s610n8ts. oxynathOn indud88 8 of the acoJunb'rrfJ w>rds kept by the charlty Bnd o crmparwn of thè acgwnls F¥eBeni8d vAlh ro[. It abo Indude8 con8h#erth"cffj ol unwual rtem8 of diadowm in the TLcounts, aTrJ Seen9 &xpl8natron$ frorn you 88 trustsès concemng any matterj. Prcedu8 undertaken do not FxovKltr 811 ts evKlenc• that WUSJ rwJuir&J in an audit, ond consequenuy ¥¥• do t eyress 8n audit Ow1 on the vithv gN•n by acKcJnl8. Indo8 ey4mln8¢8 statenwl In connection with our wmin4tions, no matt•r h•• ccrfng to our att•n rnquIMm•nlJ'. al to W ot>xuntirvJ rOrdS vnth 8e¢on 4101 I •rt •r¥J bl to prepgrg gc¢ounts wthi¢ oc4 the xrtsJnbrKJ recordj th tho aC¢£nI roquirwmnt ol th8 hm b>)t t4sn mt.. or 2 thlch In o(w oplnknn, attonthjn should b& Jr•m In ¢xdor lo • pr uTrJer8tsndirKJ of arrounta to bo rnad. Ethvard CoU.rrtJ Lknrt Chartered Man•Jaffnl Ac<*Jntants
SALEM IIYTERNATIONAL CHRISTIAN CEThE STATEMENf OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED CEMBER 2022 CHARITY REGISTRATION NUMBER England & WAk8 1105659; Seotland SC042715 No Unre8¢ri¢¢ed funds Re8trltted funds 2022 2021 Incoming re8ollrce8 Regular Giving Special Appeal/Haryest Totsl Incoming resourc 534.035 534.035 466,879 2b 534.035 $34,035 466.879 R¢80urres expended Charitable expenditure: Direct charitable ¢xp¢nditur¢ Support costs Governance Total resources expend¢d 362,503 83.885 32.469 47857 362,503 317,658 83,885 64,609 32.469 27J53 478157 409,620 Net in¢omingl(out%oin%) ruourrej before IrAn8f¢rs Trnnsfcr between funds Fund balan¢¢s brought forward at l January 2022 55,178 5S178 57259 292.681 47.501 340,182 282.923 Fund blancu carrled forward Pdt 31 Deeember 2022 347059 47JOI 395J60 340,182 The were no recognised gains or losses for 2022 or 2021 oth¢r than those included in the Statement of th¢ Financial activities The churches income and expenditure all relate to Continuing OlratIOns. The net incominB (outgoing} resources for th¢ year are calculated on th¢ historical cost basis. Page 4
SALEM INTERNATIONAL CHIUSTIAN CElYtRE BALANCE SHEET AT 31 DECEMBER 21122 HAR Wlts 110 2715 2022 2021 Notrs Fixed Assets Tangibl¢ Assets Investment5 1.093.898 1.062.543 CTrent A88ets Debtors and prepayments C at bank and in hand 789 73,531 74J20 789 37,958 3&747 Credl¢or8: amounts flllng due Tyitbin one year io 46.181 22.(KK) Net ¢vrren¢ ssets li 28,139 IA747 Total Assets less eurrent Ilabllltl 1.122.037 ' 1,079,290 CdI10rs. amount fail duc after one y lob 726.677 739.108 395J60 340,182 Funds Income funds Restricted funds Unrestricted funds.. 12 12 47,501 347.859 47,501 292.681 395J60 340,IK2 Approved by the Tnltts Me¢tin8 on 30 September 2023 and signed on th¢ir behalf. elll Se¢retry
SALEM INTERNATIOIIAL CHW8TIAN ¢E7ifRE CHAAITYREQISTRAIION NUMBEPEngL•Thl&Wth• IIOttSfftr, Scou8(41271 for th• y•ar •nd•d 31 OKernb•T 2022 Aecounllng O1¢1• 1.1 A¢¢¢uniing Tho fin•dal statements are wepared LW)J8rtt hstLwAI c£•t conv8nt>n rAbJ 418 th8 ofth& operjtk) Tlmt are in acwd8nt wilh •FgIKable 1.2 Ineom• vUntary don•OtyM •rnJ aro on • rec4 b¥. 1.3 8••l• ol•ll¢Kallon ol•xp•M•• Ch•rltabJa coth •m fvue I11•d dir• on •¢lhkn• kn pww•nory of cadt8bl8 0¥8tts. AdmYknlr4kn c4Bts grn Ihat of •xpwdthr• rdalos 10 tho admlnhlllknn ollh• thar 1.4 Tabwlbl• lTrx•d ••Ml• Pl•tht •nd mocNrwy n•nc8 980 Motor vwn OMc• oqum•nl FlxtLw8• ond ffti b•Md w lornm of aqr••rrkt 20% 2fj% strahjrf 16% strnhjht 1.5 Fund •¢M roprewnl for ydP< pwpo8e8. ha r)t 1 baèn fvlty s¥wnt IhC•• wipoiea at th8 ar eThl. Unrn•trla 114& for 8t th• dthL7•kn of 2• Un¢t•d D•n•tboM •nd S1•r¢¥I Tlthes and fr¢thl offerknq 477.4 410.471 Gfft 56,541 $8.40 Tow 2b R•8trlct•d Ir*tm• Pmjec¢ FuTrJ
SALEAI INTERNAfoNAL ¢HIUSTIAII CENTRE Nol•• to th• Flnan¢lal •tstomAnts forth• y•ar•nd•¢ 31 D•¢•mb•r 2022 Dlr•et Charltsbl• Co•t MortgAoe Inlerest At and rntes ErtY & Ga6 ChJrch Expor 34.284 30.3B2 2.rJ5 9.183 10.916 6.1 9.418 Hcmurfum Mln Dc)atk)ni 18. Mbnl6tsd81 Experw• Holds Eqylpment le m•htsw)tt• D•y•d•Oon. pnI m8ctrir•ry D•prery•Uon. Offlct ewipm D8pr6datkJn. Furnure aTrJ Ih DDpredoUon- Plotor Va 33.217 32,193 420 12217 1,015 3.8n 3.801 3,S01 37.273 28,826 19.266 18,933 7.9KS 164,354 1&1.389 1,429 3.119 362 Fl)3 317.658 1.924 Salary W•W•r support eo•t Répalrn and R•rv Ckryanh Premiw Trg¥8lllrvJ l•qe. PrfrtrvJ iThJ Tph¢¥ Bqrt Charggi Ln aTrJ Intere41 pAym•rt L•aM knt•r•i¢ Leqal 18 Web dBBW 40.243 27,167 21,081 2.801 10,317 2.447 879 2267 2.821 In•ur•n
SALEAI IHfE14J4ATIOWIL CHRISTIAN CEllfRE Noi•& to th• Flnanclal •tmAnl for the year•nd•d 31 D•c•mb•r 21Y22 Managern8nt&PAlmktstr* AcnnCY Fee¥ Almini8tiaii¥8 Exper lmln16tr8lion 188 re8trkl8d 29,4th 23.433 32,469 27.353 Wages Cc•t Grom W•aes Employern N.1. nsh) 147.251 119.289 13,044 11.191 3.459 2.919 184.354 133.39B ant T¢tsi V4n o•t 284.71 24.0• 23,812 •70.(+ 31.194 13.801 1.292.319 55244 Addttknr Dlwosol •t 3tD•¢.2022
X7q• 1&401 1.147. 195,3$5 TJ.812 10.809 21•,Trn Chr9• for y••r 17.842 6.230 • •t 312022 4897 10M17 261166 Ibook V•lw• u • 310•¢ 2022 •06 Nthk V•k* 41 Q 31 2021 88.351 970.fAk) 3 192 1 C62 543 H P Susr•M• Ghl akl
Not••to th Flnanclal •tthmnt• y••ron#•d 31 Dewnb•r 2021 2022 Ca8hlBonk B41•1 crent Accounl n.531 n.531 37.958 10 ¢r•dltorn Amtyjim lallln& du• Tmlthln on• ymr 36.010 15,I6J 8.136 SuThJry Cr•thtv8 lob ¢r•dltor•'. Anw)un¢ f•llfig dwob•r *Y Loono- Thre Ihon o Jwr nonce J&aEe obH041 Hlre Purchase Borday• 1.427 13.867 3.697 720.117 874 23.1&8 892,878 B•l•rKe •t 31M212022 .681 534.035 4n.857 I7.• 47,ty)1 Tow 478