**REGISTERED COMPANY NUMBER: 04781182 (England and Wales) REGISTERED CHARITY NUMBER: 1105659 (England & Wales) REGISTERED CHARITY NUMBER: SC042715 (Scotland)** 

## **REPORT OF THE TRUSTEES AND** 

**AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023** 

## **FOR** 

**SALEM INTERNATIONAL CHRISTIAN CENTRE (A COMPANY LIMITED BY GUARANTEE)** 

Ashford Louis Chartered Certified Accountants & Statutory Auditors 

187 High Road Leyton London E15 2BY 



**SALEM INTERNATIONAL CHRISTIAN CENTRE** 

## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023** 

|||**Page**||
|---|---|---|---|
|**Reference and Administrative Details**||1||
|**Chairman's Report**||2||
|**Operating and Financial Review**||3||
|**Report of the Trustees**|4|to|8|
|**Report of the Independent Auditors**|9|to|12|
|**Statement of Financial Activities**||13||
|**Balance Sheet**||14||
|**Cash Flow Statement**||15||
|**Notes to the Cash Flow Statement**||16||
|**Notes to the Financial Statements**|17|to|23|
|**Detailed Statement of Financial Activities**|24|to|25|





**SALEM INTERNATIONAL CHRISTIAN CENTRE** 

## **REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 DECEMBER 2023** 

**TRUSTEES** Reverend R Ash Fire Safety Officer (appointed 6.2.23) Reverend F O Chuku Construction (appointed 6.2.23) Doctor S I Dima Okojie Medical Doctor Rev H Edeko Teacher Bishop D J Onimisi Mech Engr **REGISTERED OFFICE** Unit 11c, New Horizon Business Centre The Pinnacle Barrows Road Harlow CM19 5FN **REGISTERED COMPANY** 04781182 (England and Wales) **NUMBER REGISTERED CHARITY** 1105659 (England & Wales) SC042715 (Scotland) **NUMBER AUDITORS** Ashford Louis Chartered Certified Accountants & Statutory Auditors 187 High Road Leyton London E15 2BY 

Page 1 



**SALEM INTERNATIONAL CHRISTIAN CENTRE** 

## **CHAIRMAN'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2023** 

It is with gratitude and humility that I present this Chairman’s Report for Salem International Christian Centre for the year ended 31 December 2023. This has been a year of faith, service and resilience as we have continued our mission to serve our congregation, community, and God. 

## **Achievements and Highlights** 

## **Worship and Spiritual Growth** 

We have seen a consistent commitment to worship, prayer, and teaching throughout the year. Weekly services, Bible studies, and prayer groups have remained at the heart of our church’s activities, fostering spiritual growth among our members. 

## **Community Outreach** 

Through your generous support, we have continued to serve the needs of our community. Our food bank initiative assisted a large number of families, and our youth programs have provided mentorship and guidance to a substantial number of young people. 

## **Charity Work** 

We extended our mission beyond the local community, raising funds and providing support for flood victims in Nigeria, and have also joined hands with Christian Aids to support the 2022 Pakistan floods victims, the 2023 Turkey-Syria earthquake victims and many other international missions and disaster relief  programmes. 

## **Financial Overview** 

Despite ongoing challenges, our financial position remains stable. Income from tithes and donations has allowed us to sustain our programs and maintain our facilities. We are committed to prudent stewardship of these resources to ensure the long-term sustainability of our mission. 

## **Looking Ahead** 

As we look to the future, we remain focused on our vision to expand our reach, deepen our spiritual impact, and further strengthen our community. Plans for the coming year include: 

(i) to liaise with Harlow Council Community to actively engage in rehabilitating people hooked on dangerous and life threatening substances like drugs etc. 

(ii) to plant more church branches in the Midland to disciple youths and help them to channel their energies productively and to expand our children facilities to cater for more children especially those with special needs. 

(iii) to strengthen our Outreach team for more visits to the hospitals and prisons to pray, counsel and provide emotional support to patients and inmates. 

## **Acknowledgements** 

I would like to express my heartfelt thanks to our staff, volunteers, and congregation for their tireless efforts and unwavering dedication. To our Trustees and leadership team, your guidance and support have been invaluable. 

Above all, we thank God for His faithfulness and guidance throughout the year. Together, we will continue to build a church that reflects His love and serves His purpose. 

Bishop D J Onimisi Chairman 

Page 2 



**SALEM INTERNATIONAL CHRISTIAN CENTRE** 

## **OPERATING AND FINANCIAL REVIEW FOR THE YEAR ENDED 31 DECEMBER 2023** 

The statement of financial activities (SOFA) for the year is set out on page 13. 

Total income for the year ended 31 December 2023 was £711,672 as against £534,035 in 2022. Total expenses incurred with same period being £612,719 as against £478,857 in 2022. 

Out of the total expenditure for the year of £612,719 an amount of £44,319 was spent on repairs and maintenance of the property, £168,106 was spent on wages and staff salary which includes £57,684 paid as salary to one of the trustees, Bishop David Onimisi, who is the head Pastor and the Bishop in charge of Europe Continent. 

## **Financial position** 

The church is financially stable. The net current assets in the balance sheet is £13,809 compared to the £28,139 in 2022 because of the purchase of church properties for two of our branches in Edinburgh and Aberdeen. It can also be seen from the balance sheet that the total assets less current liabilities has increased from £1,122,037 in 2022 to £1,370,658 in 2023. 

## **Reserve Policy** 

The trustees review the reserve policy of the charity annually. 

The church has permitted reserves to build up to the necessity of allowing for future expansion and development. It is also the church's express desire to see the designated reserves built up to a substantial level. 

The reserve as at 31 December 2023 is £494,313. 

Page 3 



**SALEM INTERNATIONAL CHRISTIAN CENTRE** 

## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023** 

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). 

The trustees also confirmed that the annual report and financial statement of the charity are in line with the terms of the Charities and Trustee Investment (Scotland) 2005 and the Charities Accounts (Scotland) Regulations 2006. 

## **OBJECTIVES AND ACTIVITIES Objectives and aims** 

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 to serve in every sphere of the Social Society. 

The Church stated vision is to see the Nations transformed by the glory of God to a place where Jesus Christ is recognised as Lord. This is accomplished by working together with other life-giving churches and charities and by mobilising people with Godly character and principles to serve in the sphere of influence of society namely: The church, education, government, media, arts & entertainment, business, sport and social society. The Church's principal objectives also include ensuring promoting church activities for such other purposes 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 determined. 

## **Significant activities Achievements and Performances** 

Since its inception the church has grown and currently comprises: 

- A registered membership of over 5,000 living in London, Harlow, Kent, Sheffield, Plymouth, Southampton, Cardiff, Belfast, Glasgow, Aberdeen and Edinburgh and Weekly Sunday service with an attendance of 600 and above at the Headquarter church. 

- Smaller group fellowships during the week. 

- University Campus fellowships in eight Universities within England and three Universities in Scotland outreaches. 

- Dynamic street outreaches aim at capturing and rehabilitating youth with troubled background. 

- An established pastoral care network through the small group structures. 

- Training and equipping the various age groups for ministry work. 

- Small groups leadership skill development classes. 

- We take our food bank to a new dimension by organising online registration and collection of food items, helping 

- us to reach wider audience. 

- Marital and pre-marital counselling 

- Our youth programs have provided mentorship and guidance to a substantial number of young people. 

- Providing care to the poor and handicapped: Food bank, mercy day during which essential items like clothes and other forms of apparel are handed to those in need. Also provide quarterly free health check to the community. 

- Prison and hospital ministry to reach out and comfort people in confinement or sick. 

- Two churches planted in South London and Plymouth in 2021 are growing speedily. 

- Extensive renovation of the church property purchased in 2016 was completed in 2021. Had fixed air conditioning 

- system, complete dry lining of all the walls, 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 property and a rough estimate now put the value of the property at over £2m. More facilities have been added to enhance a conducive atmosphere of worship. 

- New branches planned in Cardiff; Wales, and in Belfast; Northern Ireland, are growing. 

- Our church branches in Edinburgh and Aberdeen completed on the purchase of their church properties and are now 

- settled in the new locations. 

- (a) Edinburgh Church address: Newbattle Road, Dalkeith, Midlothian, Edinburgh EH22 3LH 

- (b) Aberdeen Church address: 191 Victoria Road, Torry, Aberdeen, AB11 9NE 

We have seen a consistent commitment to worship, prayer, and teaching throughout the year. Weekly services, Bible studies, and prayer groups have remained at the heart of our church's activities, fostering spiritual growth among our members. 

Page 4 



**SALEM INTERNATIONAL CHRISTIAN CENTRE** 

## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023** 

## **OBJECTIVES AND ACTIVITIES** 

## **Public benefit** 

When planning our activities for the year, the Trustees considered the Commission's guidance on public benefit and in particular, the specific guidance on charities for the advancement of religion, health and well being of society at large. 

## **Grant making** 

Salem International Christian Centre does not give grants but accepts donations in furtherance of its aim and objectives. 

## **Volunteers** 

Salem International Christian Centre trains and deploys community volunteers some of who have been service users and feel the need to give back to their communities by utilising their lived experiences to support others.Volunteers play a crucial role in supporting the mission and activities of our Church. Their dedication, time, and skills significantly enhance our ability to deliver services as a Church. We are deeply grateful for their contributions. Their commitment not only strengthens our Charity but also fosters a sense of community and shared purpose. We continue to invest in volunteer training and engagement to ensure a rewarding experience for all involved. 

## **Risk Management** 

The Trustees have a risk management strategy, which comprises: An annual review of the risks the charity may face. 

The establishment of systems and procedures to mitigate those risks identified in the review; and the implementation of procedures designed to minimise any potential impact on the charity should those risks materialise. 

The Trustees have assessed the risks to which the charity may be exposed with particular reference to those relating to the operations and finances of the charity. Systems are in place to ensure that all risks are recorded for subsequent monitoring and review. In the meantime, the Trustees remain satisfied that all insurable risks have been identified and adequately dealt with and that the charities exposure to other risks is kept at a minimum by good working practice and guidelines. 

## **FINANCIAL REVIEW** 

## **Financial position** 

The statement of financial activities (SOFA) for the year is set out on page 13. 

Total income for the year ended 31 December 2023 was £711,672 as against £534,035 in 2022. Total expenses incurred with same period being £612,719 as against £478,857 in 2022. 

The church is financially stable. The net current assets in the balance sheet is £13,809 compared to the £28,139 in 2022 because of the purchase of church properties for two of our branches in Edinburgh and Aberdeen. It can also be seen from the balance sheet that the total assets less current liabilities has increased from £1,122,037 in 2022 to £1,370,658 in 2023. 

## **Reserves policy** 

The policy of the church is to maintain unrestricted funds, which are free reserves of the church, at a level of unrestricted expenditure. This will provide sufficient funds to be available for all management and administrative costs as well as ensuring adequate funds continue to be available for the church's services and religious events. All unrestricted funds of the church are held for its general purpose. 

The trustees review the reserve policy of the charity annually. 

The church has permitted reserves to build up to the necessity of allowing for future expansion and development. It is also the church's express desire to see the designated reserves built up to a substantial level. 

The reserve as at 31 December 2023 is £494,313. 

Page 5 



**SALEM INTERNATIONAL CHRISTIAN CENTRE** 

## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023** 

## **FINANCIAL REVIEW** 

## **Going concern** 

At the time of approving the financial statements, the trustees have a reasonable expectation that the church has  adequate resources to continue in operational existence for the foreseeable future, a period of not less than 12 months from the date of approval of these financial statements.The church therefore continues to adopt the going concern basis in preparing its financial statements. 

## **FUTURE PLANS** 

Going forward, we remained focused on our vision to expand our reach, deepen our spiritual impact, and further strengthen our community. 

Plans for the coming year include: 

(i) to liaise with Harlow Council Community to actively engage in rehabilitating people hooked on dangerous and life threatening substances like drugs etc. 

(ii) to plant more church branches in the Midland to disciple youths and help them to channel their energies productively and to expand our children facilities to cater for more children especially those with special needs. 

(iii) to strengthen our Outreach team for more visits to the hospitals and prisons to pray, counsel and provide emotional support to patients and inmates. 

## **STRUCTURE, GOVERNANCE AND MANAGEMENT** 

## **Governing document** 

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. 

Salem International Christian Centre was incorporated as a company limited by guarantee, with registration number 04781182 on 29th May 2003, and registered with the Charity Commission on 27 August 2004 (Registration number: 1105659) and was merged in April 2010 with Foundation Faith Church an older Charity registered in December 2001. 

The liability of the Company members in the event of the charity being wound up is limited to a sum not exceeding Ten Pounds (£10). Salem International Christian Centre is also registered with the Office of the Scottish Charity Regulator under registration number SC042715. 

The company was established under a Memorandum and Articles of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. 

Salem International Christian Centre is a family of churches with Ministry locations in England, Wales, Northern Island, Scotland, USA (Houston) and many cities in Nigeria and Ghana. Salem International Christian Centre is a Pentecostal assembly 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 co-ordinated from the Europe headquarters located at: Unit 11C, New Horizon Business Centre, The Pinnacles, Barrows Road, Harlow CM19 5FN. 

Page 6 



**SALEM INTERNATIONAL CHRISTIAN CENTRE** 

## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023** 

## **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 - Chairman 

Reverend Sylvester Dima-Okojie 

Reverend Henry Edeko - Secretary 

Reverend Ralph Ash 

Reverend Fynecountry Chuku 

## **Key Management Personnel** 

Founder / General Overseer:-  Archbishop Sam Amaga 

Europe Continental Bishop:-  Bishop David Onimisi 

Administrator:-  Rev. Dana Akeredolu 

Accounts Personnel:-  Pastor Julia Malcolm 

Resident Pastors:  Rev Sylvester Dima-Okojie Rev Oriola Olapade 

The directors, in line with provision in the company Articles of Association, elect trustees and they meet as required, together with members of the management, to generally manage the affairs of the charity. New trustees are familiarised with the charity's legal documents, their legal responsibilities and the objectives and finances of the charity. 

## **Organisation** 

The board of Trustees meet three times a year to review all aspects of the charity activities. The board has established various volunteer groups to help in the running of the charity's programmes and activities. 

## **Induction and training of new trustees** 

New trustees will undergo orientation on their legal obligations under charity law, the aims and objectives of the  charity, its governing frameworks, decision-making processes, strategic plans, and financial performance. All trustee are issued with a trustee pack and attend in-house and external training relevant to their roles. 

Page 7 



SALEM INTERN.4TIONAL CHRISTLLN CENTRE
REPORTOFTHE TRU
FOR THE END
D 31 DECEIIBER 2023
STATEMENT OF TRUSTEES, RFSPONSIBILITIES
The trustees Are also the d￿eCtorS of Salem Ithiern&iional Christian Cetttse tDr the purpJs¢s of compNtty lawl are
responsible for prwTin8 ihe Antsual Repon 4rMI the styr¢ments in aceordan¢e with arolicable law ATh1 United
Kingdom Ac¢oum¢ng Siatxlarth (Lnittd Kinbth Genernlly Atc¢ptd A¢￿Un[in9 P￿tiCe) Ind the Cbaniie5 2nd
Inyestll￿1 Iscodwyjl Aet 2LN)5 Regulation 8 of the awitses Accounts (Sc￿1￿4) Regu]alions •OOO.
Company requires the mLsie¢$ 10 prepate fina￿thI for each fuwKial year wllich and fair Iqew
of rhe srate of iffuirs of th¢ chrttablc wmpaDy of thr LRCOIDin8 resowtrs and applicarioth of r¢sovrtts. including
the income and ¢xpenthture. of the cl4n"thble thry>nDy for thai period. In prepBnng those finar￿la1 staien*nts. Ihe
trustees are Tequired
- select $uir8ble Ac¢ouniinB poli¢i¢s and then appl). them ¢onsi5knrfy:
- obseThE the methods aThJ principles in the Charity SORP.
- make judgements and UiJm&¢es Ihat are reAsonthle and pnthm:
- pr¢pare the find￿la1 Irate￿￿1$ on the 80th8 CO￿ buis unkjs li IS 1th￿pY0Prl*te to prem ihal the chorithble
mparty will eoniinue in business.
The trustees are re$pJnsibk for kttping Proper BccrwniinB records which diK10￿ Mryth tettonable •eeurAey ai any time
Ihe flnancial posjtion of the charithbl¢ ¢ompan)' aNI ￿ ¢n8ble Them w enswe that the fina￿1*[ Statements eompl>' wih
the Companies Act 2(#)6. They are ajso responsibk for ￿f¢B￿ardIng Ihg aw¢5 of th¢ clwithblt compan) and hellce for
takin8 rethimble step5 for the pmtntion Ind dewtion of fraud other irrc8ulariThes.
It) so fir u ihe are aw¥e'.
- Ihere 1$ ￿ relev￿1 8wJir infom￿111)￿ tsf wliich the chafttsble Comp￿ryI$ I￿￿lto￿A are unI￿re.. #nd
the trusttts httve taken all sitps thal ouBhi w have tyken th¢msel%'es awart of any relevant audir
infornmuon ATh1 ￿ tt¢ablish that the I￿111￿ are 4M7re of infornuts'on.
AUDITORS
The auditors. Ashford Low& will be prnpo*d for Ye￿ppOin￿￿enl at the fOr￿MIng Annu41 (kn%rnJ Meetin8.
Approved by othr of lh¢ l￿rd of ¢nllieu on.....
Rev H Edekn- Trus*e

## **REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF SALEM INTERNATIONAL CHRISTIAN CENTRE** 

## **Opinion** 

We have audited the financial statements of Salem International Christian Centre (the 'charitable company') for the year ended 31 December 2023 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The Charity met the criteria for audit in the previous financial year ended 31 December 2022; however, the accounts were not audited. As a result, the comparative figures presented in these financial statements are unaudited. This year, the financial statements have been subject to a full statutory audit in accordance with applicable UK auditing standards. 

- In our opinion the financial statements: 

- give a true and fair view of the state of the charitable company's affairs as at 31 December 2023 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended; 

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and 

- have been prepared in accordance with the requirements of the Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005 and Regulation 8 of the Charities Accounts (Scotland) Regulations 2006. 

## **Basis for opinion** 

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report.  We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements.  We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. 

## **Conclusions relating to going concern** 

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. 

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. 

## **Other information** 

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon. 

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. 

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.  We have nothing to report in this regard. 

## **Opinions on other matters prescribed by the Companies Act 2006** 

In our opinion, based on the work undertaken in the course of the audit: 

- the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and 

- the Report of the Trustees has been prepared in accordance with applicable legal requirements. 

Page 9 



## **REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF SALEM INTERNATIONAL CHRISTIAN CENTRE** 

## **Matters on which we are required to report by exception** 

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees. 

We have nothing to report in respect of the following matters where the Companies Act 2006 and the Charities Accounts (Scotland) Regulations 2006 requires us to report to you if, in our opinion: 

- adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or 

- the financial statements are not in agreement with the accounting records and returns; or 

- certain disclosures of trustees' remuneration specified by law are not made; or 

- we have not received all the information and explanations we require for our audit; or 

- the trustees were not entitled to take advantage of the small companies exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Trustees. 

## **Responsibilities of trustees** 

As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. 

In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. 

Page 10 



## **REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF SALEM INTERNATIONAL CHRISTIAN CENTRE** 

## **Our responsibilities for the audit of the financial statements** 

We have been appointed as auditor under section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and under the Companies Act 2006 and report in accordance with the Acts and relevant regulations made or having effect thereunder. 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion.  Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error 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. 

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: 

- We obtained an understanding of the legal and regulatory requirements applicable to the charity. We considered that the most significant are those that relate to the reporting framework being FRS 102, Charities SORP (FRS 102), Anti-Money Laundering and Charities Act 2011 rules and regulations, the Companies Act 2006 and the Charities Accounts (Scotland) Regulations 2006. We obtained an understanding of how the charity complies with these requirements by making enquiries of management and seeking representations from those charged with governance. We corroborated our understanding by reviewing supporting documentation. 

- We inquired from management and those charged with governance as to any known instances of non-compliance or suspected non-compliance with laws and regulations. We designed our audit procedures to identify instances of non-compliance throughout the audit and remained alert to instances of non-compliance throughout the audit. 

- We assessed the susceptibility of the charity's financial statements to material misstatement, including how fraud might occur by considering the risk of management override of internal control and by designating incoming resources recognition as a fraud risk. We performed journal entry testing by specific risk criteria, with a focus on journals indicating large or unusual transactions based on our understanding of the business. We tested completeness of income through substantive tests performed, analytical review procedures and cut off tests on the incoming resources recognised. 

- Where incoming resources were received from overseas, we requested supporting documentation to ensure that sufficient anti-money laundering documentation was in place. 

- The charity is a regulated entity under the supervision of the Charities Commission. As such, the Senior Statutory Auditor considered the experience and expertise of the engagement team to ensure that the team had the appropriate competence and capabilities. 

Due to the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. However, the primary responsibility for prevention and detection of fraud rests with both management and those charged with governance of the company. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report. As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also: 

- Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. 

Page 11 



## **REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF SALEM INTERNATIONAL CHRISTIAN CENTRE** 

- Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control. 

- Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees. 

Conclude on the appropriateness of the trustees' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charity's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the charity to cease to continue as a going concern. 

Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. 

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. 

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors. 

## **Use of our report** 

This report is made solely to the charitable company's trustees, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006 and Regulation 10 of the Charities Accounts (Scotland) Regulations 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed. 


Eric Ashong FCCA (Senior Statutory Auditor) for and on behalf of Ashford Louis Chartered Certified Accountants & Statutory Auditors 187 High Road Leyton London E15 2BY 

25/01/2025 Date: ............................................. 

Page 12 



## **SALEM INTERNATIONAL CHRISTIAN CENTRE** 

## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023** 

|Unrestricted<br>fund<br>Notes<br>£<br>**INCOME AND ENDOWMENTS FROM**<br>Donations and legacies<br>2<br>711,672<br>**EXPENDITURE ON**<br>**Charitable activities**<br>3<br>Direct charitable expenditure<br>410,570<br>Support costs<br>188,549<br>Governance<br>13,600<br>**Total**<br>612,719<br>**NET INCOME**<br>98,953<br>**Transfers between funds**<br>15<br>47,501<br>**Net movement in funds**<br>146,454<br>**RECONCILIATION OF FUNDS**<br>Total funds brought forward<br>347,859<br>**TOTAL FUNDS CARRIED FORWARD**<br>494,313|Restricted<br>fund<br>£<br>-<br>-<br>-<br>-<br>-<br>-<br>(47,501)<br>(47,501)<br>47,501<br>-|31.12.23<br>31.12.22<br>Total<br>Total<br>funds<br>funds<br>£<br>£<br>711,672<br>534,035<br>410,570<br>362,503<br>188,549<br>113,354<br>13,600<br>3,000<br>612,719<br>478,857<br>98,953<br>55,178<br>-<br>-<br>98,953<br>55,178<br>395,360<br>340,182<br>494,313<br>395,360|31.12.23<br>31.12.22<br>Total<br>Total<br>funds<br>funds<br>£<br>£<br>711,672<br>534,035<br>410,570<br>362,503<br>188,549<br>113,354<br>13,600<br>3,000<br>612,719<br>478,857<br>98,953<br>55,178<br>-<br>-<br>98,953<br>55,178<br>395,360<br>340,182<br>494,313<br>395,360|
|---|---|---|---|
||||362,503<br>113,354<br>3,000|
||||478,857|
||||55,178<br>-|
||||55,178<br>340,182|
||||395,360|



The notes form part of these financial statements 

Page 13 



SALENI
T[￿y cE￿TRE
BALAJCE SHE
DECE.MBER 2023
31.1213
Total
31.J2?2
Total
FtXED ASSETS
TATwble assets
1.356,849
1,356,849
1.093,898
tkbtors
Cwb at bnnk
10
789
73.531
65.357
65.357
65J57
65357
74.3?0
CREDITORS
An￿unt6 f4Uth8 Mithin one
{SlJ48)
151.548)
{46.1811
NET CURRENT ASSETS
13.8OY
13.809
28.139
TOTAL ASSETS LE&8 CURREI
LIABILITIES
IJ70.658
1,370,658
1,122,037
CREDITORS
Anwwits fAllinB •fter more th*n one )rar
12
1876J451
1876J451
1726.6771
NET ASSETS
494J13
494313
393.360
FUNDS
Unrestricted fu
Resthcted fiu
15
494 J13
347.859
47.501
TOTAL FUNDS
494.313
395.300
These fLtiaiicL&I NAleMen￿ hAve becn prw¢d in aecordllnre Vjith the provisiom applicable ￿ ehan'thble companiej
Subject to the $mttll conyanies re8iTh￿.
ncia
smtemens wtre approved by the Bo•rd of Tn￿lets authoriied for iiwe on
.. and were $18ned OD its beh￿r by.
Djon
i.Tn
H Edeko. Tnutee
Page 14

## **SALEM INTERNATIONAL CHRISTIAN CENTRE** 

## **CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2023** 

|Notes<br>**Cash flows from operating activities**<br>Cash generated from operations<br>1<br>Interest paid<br>Interest element of hire purchase and finance<br>lease rental payments paid<br>Net cash provided by operating activities<br>**Cash flows from investing activities**<br>Purchase of tangible fixed assets<br>Net cash used in investing activities<br>**Cash flows from financing activities**<br>New loans in year<br>Loan repayments in year<br>Capital repayments in year<br>Net cash provided by/(used in) financing activities<br>**Change in cash and cash equivalents in**<br>**the reporting period**<br>**Cash and cash equivalents at the**<br>**beginning of the reporting period**<br>**Cash and cash equivalents at the end of**<br>**the reporting period**|31.12.23<br>£<br>232,796<br>(71,750)<br>(2,820)<br>158,226<br>(316,857)<br>(316,857)<br>181,000<br>(34,537)<br>3,994<br>150,457<br>(8,174)<br>73,531<br>65,357|31.12.22<br>£<br>159,993<br>(34,284)<br>(461)<br>125,248<br>(55,244)<br>(55,244)<br>-<br>(58,303)<br>23,872<br>(34,431)<br>35,573<br>37,958<br>73,531|
|---|---|---|



The notes form part of these financial statements 

Page 15 



**SALEM INTERNATIONAL CHRISTIAN CENTRE** 

## **NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2023** 

|**1.**|**RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM**|**OPERATING ACTIVITIES**|**OPERATING ACTIVITIES**|
|---|---|---|---|
|||31.12.23|31.12.22|
|||£|£|
||**Net income for the reporting period (as per the Statement of Financial**|||
||**Activities)**|98,953|55,178|
||**Adjustments for:**|||
||Depreciation charges|53,906|23,889|
||Interest paid|71,750|34,284|
||Interest element of hire purchase and finance lease rental payments|2,820|461|
||Increase in creditors|5,367|46,181|
||**Net cash provided by operations**|232,796|159,993|



## **2.** 

## **ANALYSIS OF CHANGES IN NET DEBT** 

||At 1.1.23|Cash flow|At 31.12.23|
|---|---|---|---|
||£|£|£|
|**Net cash**||||
|Cash at bank and in hand|73,531|(8,174)|65,357|
||73,531|(8,174)|65,357|
|**Debt**||||
|Hire purchase and finance leases|(23,872)|(3,994)|(27,866)|
|Debts falling due after 1 year|(702,805)|(145,674)|(848,479)|
||(726,677)|(149,668)|(876,345)|
|**Total**|(653,146)|(157,842)|(810,988)|



The notes form part of these financial statements 

Page 16 



**SALEM INTERNATIONAL CHRISTIAN CENTRE** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023** 

## **1. ACCOUNTING POLICIES** 

## **Basis of preparing the financial statements** 

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006, and the Charities and Trustee Investment (Scotland) Act 2005 and Regulation 8 of the Charities Accounts (Scotland) Regulations 2006. The financial statements have been prepared under the historical cost convention. 

## **Income** 

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. 

## **Expenditure** 

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. 

## **Tangible fixed assets** 

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. 

Freehold property - 2% on cost Plant and machinery - 20% on cost Fixtures and fittings - 15% on cost Motor vehicles - 20% on cost 

## **Taxation** 

The charity is exempt from corporation tax on its charitable activities. 

## **Fund accounting** 

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. 

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. 

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. 

## **Hire purchase and leasing commitments** 

The interest element of these obligations is charged to the Statement of Financial Activities over the relevant period. The capital element of the future payments is treated as a liability. 

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease. 

## **Pension costs and other post-retirement benefits** 

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. 

continued... 

Page 17 



**SALEM INTERNATIONAL CHRISTIAN CENTRE** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023** 

## **2. DONATIONS AND LEGACIES** 

|**DONATIONS AND LEGACIES**|||
|---|---|---|
|Donations<br>Gift aid|31.12.23<br>£<br>652,257<br>59,415<br>711,672|31.12.22<br>£<br>477,494<br>56,541|
|||534,035|



## **3. CHARITABLE ACTIVITIES COSTS** 

|Direct charitable expenditure<br>Support costs<br>Governance<br>**4.**<br>**SUPPORT COSTS**<br>Management<br>£<br>Support costs<br>52,804<br>Governance<br>-<br>52,804<br>**5.**<br>**NET INCOME/(EXPENDITURE)**<br>Net income/(expenditure) is stated after charging/(crediting):<br>Auditors' remuneration<br>Depreciation - owned assets<br>Hire of plant and machinery<br>Other operating leases|Support<br>Direct<br>costs (see<br>Costs<br>note 4)<br>£<br>£<br>410,570<br>-<br>107,090<br>81,459<br>-<br>13,600<br>517,660<br>95,059<br>Governance<br>Finance<br>costs<br>£<br>£<br>3,105<br>25,550<br>-<br>13,600<br>3,105<br>39,150<br>31.12.23<br>£<br>9,600<br>53,906<br>-<br>25,263|Totals<br>£<br>410,570<br>188,549<br>13,600|Totals<br>£<br>410,570<br>188,549<br>13,600|
|---|---|---|---|
|||612,719||
|||Totals<br>£<br>81,459<br>13,600<br>95,059<br>31.12.22<br>£<br>-<br>23,889<br>26,825<br>7,644|Totals<br>£<br>81,459<br>13,600|
||||95,059|



## **6. TRUSTEES' REMUNERATION AND BENEFITS** 

One member of the Trustees received remuneration as the Principal Pastor overseeing the work in the Continent of Europe. No other Trustees receive remuneration, except for essential services rendered by them to the charity. 

## **Trustees' expenses** 

There were no trustees' expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022. 

continued... 

Page 18 



**SALEM INTERNATIONAL CHRISTIAN CENTRE** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023** 

## **7. STAFF COSTS** 

|Wages and salaries<br>Social security costs<br>Other pension costs<br>The average monthly number of employees during the year was as follows:<br>No employees received emoluments in excess of £60,000.<br>**8.**<br>**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**<br>Unrestricted<br>fund<br>£<br>**INCOME AND ENDOWMENTS FROM**<br>Donations and legacies<br>534,035<br>**EXPENDITURE ON**<br>**Charitable activities**<br>Direct charitable expenditure<br>362,503<br>Support costs<br>113,354<br>Governance<br>3,000<br>**Total**<br>478,857<br>**NET INCOME**<br>55,178<br>**RECONCILIATION OF FUNDS**<br>Total funds brought forward<br>292,681<br>**TOTAL FUNDS CARRIED FORWARD**<br>347,859|31.12.23<br>£<br>168,106<br>5,621<br>3,447<br>177,174<br>31.12.23<br>Restricted<br>fund<br>£<br>-<br>-<br>-<br>-<br>-<br>-<br>47,501<br>47,501|31.12.22<br>£<br>147,251<br>13,644<br>3,459<br>164,354<br>31.12.22<br>Total<br>funds<br>£<br>534,035<br>362,503<br>113,354<br>3,000<br>478,857<br>55,178<br>340,182<br>395,360|31.12.22<br>£<br>147,251<br>13,644<br>3,459<br>164,354<br>31.12.22<br>Total<br>funds<br>£<br>534,035<br>362,503<br>113,354<br>3,000<br>478,857<br>55,178<br>340,182<br>395,360|
|---|---|---|---|
||||362,503<br>113,354<br>3,000|
||||478,857|
||||55,178<br>340,182|
||||395,360|



continued... 

Page 19 



**SALEM INTERNATIONAL CHRISTIAN CENTRE** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023** 

## **9. TANGIBLE FIXED ASSETS** 

|Fixtures<br>Freehold<br>Plant and<br>and<br>Motor<br>property<br>machinery<br>fittings<br>vehicles<br>£<br>£<br>£<br>£<br>**COST**<br>At 1 January 2023<br>970,000<br>308,756<br>13,801<br>55,006<br>Additions<br>279,100<br>15,280<br>878<br>21,599<br>At 31 December 2023<br>1,249,100<br>324,036<br>14,679<br>76,605<br>**DEPRECIATION**<br>At 1 January 2023<br>-<br>212,997<br>10,617<br>30,051<br>Charge for year<br>18,986<br>23,170<br>1,191<br>10,559<br>At 31 December 2023<br>18,986<br>236,167<br>11,808<br>40,610<br>**NET BOOK VALUE**<br>At 31 December 2023<br>1,230,114<br>87,869<br>2,871<br>35,995<br>At 31 December 2022<br>970,000<br>95,759<br>3,184<br>24,955<br>**10.**<br>**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**<br>31.12.23<br>£<br>Amounts receivable in respect of hire purchase contracts<br>-<br>**11.**<br>**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**<br>31.12.23<br>£<br>Social security and other taxes<br>37,192<br>Other creditors<br>756<br>Accrued expenses<br>13,600<br>51,548<br>**12.**<br>**CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR**<br>31.12.23<br>£<br>Bank loans (see note 13)<br>841,051<br>Other loans (see note 13)<br>7,428<br>Hire purchase and finance leases (see note 14)<br>27,866<br>876,345|Totals<br>£<br>1,347,563<br>316,857|Totals<br>£<br>1,347,563<br>316,857|
|---|---|---|
||1,664,420||
||253,665<br>53,906||
||307,571||
||1,356,849||
||1,093,898||
|||31.12.22<br>£<br>789<br>31.12.22<br>£<br>38,046<br>8,135<br>-<br>46,181<br>31.12.22<br>£<br>692,878<br>9,927<br>23,872|
|||726,677|



continued... 

Page 20 



**SALEM INTERNATIONAL CHRISTIAN CENTRE** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023** 

## **13. LOANS** 

An analysis of the maturity of loans is given below: 

|Amounts falling between one and two years:<br>Bank loans - 1-2 years<br>Other loans - 1-2 years|31.12.23<br>£<br>841,051<br>7,428<br>848,479|31.12.22<br>£<br>692,878<br>9,927|
|---|---|---|
|||702,805|



The bank loan is secured by way of first charge over Unit 11c, New Horizon Business Centre, The Pinnacle, Barrows Road, Harlow CM19 5FN. 

## **14. LEASING AGREEMENTS** 

Minimum lease payments fall due as follows: 

|Net obligations repayable:<br>Between one and five years<br>**15.**<br>**MOVEMENT IN FUNDS**<br>**Unrestricted funds**<br>General fund<br>**Restricted funds**<br>Restricted fund<br>**TOTAL FUNDS**<br>Net movement in funds, included in the above are as<br>**Unrestricted funds**<br>General fund<br>**TOTAL FUNDS**|Hire purchase contracts<br>31.12.23<br>31.12.22<br>£<br>£<br>27,866<br>23,198<br>Net<br>movement<br>At 1.1.23<br>in funds<br>£<br>£<br>347,859<br>98,953<br>47,501<br>-<br>395,360<br>98,953<br>follows:<br>Incoming<br>resources<br>£<br>711,672<br>711,672|Finance leases<br>31.12.23<br>31.12.22<br>£<br>£<br>-<br>674<br>Transfers<br>between<br>At<br>funds<br>31.12.23<br>£<br>£<br>47,501<br>494,313<br>(47,501)<br>-<br>-<br>494,313<br>Resources<br>Movement<br>expended<br>in funds<br>£<br>£<br>(612,719)<br>98,953<br>(612,719)<br>98,953|Finance leases<br>31.12.23<br>31.12.22<br>£<br>£<br>-<br>674<br>Transfers<br>between<br>At<br>funds<br>31.12.23<br>£<br>£<br>47,501<br>494,313<br>(47,501)<br>-<br>-<br>494,313<br>Resources<br>Movement<br>expended<br>in funds<br>£<br>£<br>(612,719)<br>98,953<br>(612,719)<br>98,953|
|---|---|---|---|
||||98,953|



continued... 

Page 21 



**SALEM INTERNATIONAL CHRISTIAN CENTRE** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023** 

## **15. MOVEMENT IN FUNDS - continued** 

## **Comparatives for movement in funds** 

|**Unrestricted funds**<br>General fund<br>**Restricted funds**<br>Restricted fund<br>**TOTAL FUNDS**|At 1.1.22<br>£<br>292,681<br>47,501<br>340,182|Net<br>movement<br>in funds<br>£<br>55,178<br>-<br>55,178|At<br>31.12.22<br>£<br>347,859<br>47,501|
|---|---|---|---|
||||395,360|



Comparative net movement in funds, included in the above are as follows: 

|Incoming<br>resources<br>£<br>**Unrestricted funds**<br>General fund<br>534,035<br>**TOTAL FUNDS**<br>534,035<br>A current year 12 months and prior year 12 months combined position is as follows:<br>Net<br>movement<br>At 1.1.22<br>in funds<br>£<br>£<br>**Unrestricted funds**<br>General fund<br>292,681<br>154,131<br>**Restricted funds**<br>Restricted fund<br>47,501<br>-<br>**TOTAL FUNDS**<br>340,182<br>154,131|Resources<br>Movement<br>expended<br>in funds<br>£<br>£<br>(478,857)<br>55,178<br>(478,857)<br>55,178<br>Transfers<br>between<br>At<br>funds<br>31.12.23<br>£<br>£<br>47,501<br>494,313<br>(47,501)<br>-<br>-<br>494,313|Resources<br>Movement<br>expended<br>in funds<br>£<br>£<br>(478,857)<br>55,178<br>(478,857)<br>55,178<br>Transfers<br>between<br>At<br>funds<br>31.12.23<br>£<br>£<br>47,501<br>494,313<br>(47,501)<br>-<br>-<br>494,313|
|---|---|---|
|||55,178|
|||At<br>31.12.23<br>£<br>494,313<br>-|
|||494,313|



A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: 

||Incoming|Resources|Movement|
|---|---|---|---|
||resources|expended|in funds|
||£|£|£|
|**Unrestricted funds**||||
|General fund|1,245,707|(1,091,576 )|154,131|
|**TOTAL FUNDS**|1,245,707|(1,091,576 )|154,131|



continued... 

Page 22 



**SALEM INTERNATIONAL CHRISTIAN CENTRE** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023** 

## **16. RELATED PARTY DISCLOSURES** 

Salem UK is part of the Salem family worldwide, founded by the Archbishop Sam Amaga, a reputable man of integrity and a man of faith. His invaluable contribution in conjunction with the Board of Trustees here in UK, has seen to the stability of the work. 

During the year, the church paid  an amount totalling £18,550 to a trustee as supervisor's fees. 

Page 23 



## **SALEM INTERNATIONAL CHRISTIAN CENTRE** 

## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023** 

||31.12.23|31.12.22|
|---|---|---|
||£|£|
|**INCOME AND ENDOWMENTS**|||
|**Donations and legacies**|||
|Donations|652,257|477,494|
|Gift aid|59,415|56,541|
||711,672|534,035|
|**Total incoming resources**|711,672|534,035|
|**EXPENDITURE**|||
|**Charitable activities**|||
|Wages|168,106|147,251|
|Social security|5,621|13,644|
|Pensions|3,447|3,459|
|Hire of plant and machinery|-|26,825|
|Other operating leases|25,263|7,644|
|Light and heat|14,254|10,916|
|Advertising|-|6,801|
|Sundries|5,378|1,429|
|Ministerial expenses|58,963|33,217|
|Hotels and lodging|7,038|7,500|
|Church house expenses|9,800|793|
|Honorarium cost|14,221|9,418|
|Donations|10,291|18,500|
|Welfare expenses|10,146|-|
|Motor expenses|12,337|16,933|
|Repairs and maintenance|44,319|41,952|
|Depreciation of freehold property|18,986|-|
|Depreciation of plant and machinery|23,170|12,217|
|Depreciation of fixtures and fittings|1,191|5,433|
|Depreciation of motor vehicles|10,559|6,239|
|Mortgage|71,750|34,284|
|Hire purchase|2,820|461|
||517,660|404,916|
|**Support costs**|||
|**Management**|||
|Rates and water|1,020|-|
|Insurance|4,471|4,063|
|Travelling|11,218|21,581|
|Telephone|8,119|6,802|
|Postage and stationery|6,364|2,691|
|Advertising|-|399|
|Legal and professional fees|21,612|3,000|
||52,804|38,536|



This page does not form part of the statutory financial statements 

Page 24 



**SALEM INTERNATIONAL CHRISTIAN CENTRE** 

|**Management**<br>**Finance**<br>Lease rentals<br>Bank charges<br>**Governance costs**<br>Auditors' remuneration<br>Administrative expenses<br>Accountancy fees<br>Total resources expended<br>**Net income**|**DETAILED STATEMENT OF FINANCIAL ACTIVITIES**<br>**FOR THE YEAR ENDED 31 DECEMBER 2023**<br>31.12.23<br>31.12.22<br>£<br>£<br>2,339<br>2,257<br>766<br>679<br>3,105<br>2,936<br>9,600<br>-<br>25,550<br>29,469<br>4,000<br>3,000<br>39,150<br>32,469<br>612,719<br>478,857<br>98,953<br>55,178|**DETAILED STATEMENT OF FINANCIAL ACTIVITIES**<br>**FOR THE YEAR ENDED 31 DECEMBER 2023**<br>31.12.23<br>31.12.22<br>£<br>£<br>2,339<br>2,257<br>766<br>679<br>3,105<br>2,936<br>9,600<br>-<br>25,550<br>29,469<br>4,000<br>3,000<br>39,150<br>32,469<br>612,719<br>478,857<br>98,953<br>55,178|
|---|---|---|
||||
|||2,936<br>-<br>29,469<br>3,000|
|||32,469|
|||478,857|
|||55,178|



This page does not form part of the statutory financial statements 

Page 25