CHARITY REGISTRATION NUMBER: 1120708
THE ROCK OF CALVARY MINISTRIES
Unaudited Accounts
31 March 2022
THE ROCK OF CALVARY MINISTRIES
Accounts
Year ended 31 March 2022
| Page | |
|---|---|
| Trustees' annual report | 1 |
| Independent examiner's report to the trustees | 4 |
| Statement of financial activities | 5 |
| Statement of financial position | 6 |
| Notes to the accounts | 7 |
| The following pages do not form part of the accounts | |
| Detailed statement of financial activities | 14 |
| Notes to the detailed statement of financial activities | 15 |
THE ROCK OF CALVARY MINISTRIES
Trustees' Annual Report
Year ended 31 March 2022
The trustees present their report and the unaudited accounts of the charity for the year ended 31 March 2022.
Reference and administrative details
Registered charity name THE ROCK OF CALVARY MINISTRIES Charity registration number 1120708 Principal office 158 Rye Lane Peckham London SE15 4NB The trustees Enoch Ayodeji Alabi Kazeem Olalekan Pastor Akintayo M Apara Independent examiner Mr Harry Koranteng FCCA,ACMA 6 Greenwich Quay Clarence Road London SE8 3EY
Structure, governance and management
The charity is governed by a constitution adopted on 11 June 2007, as amended by a resolution on 17 August 2007.
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THE ROCK OF CALVARY MINISTRIES
Trustees' Annual Report (continued)
Year ended 31 March 2022
Objectives and activities
The main objects of the charity are the advancement of the Christian faith, the relief of sickness, poverty and the advancement of education in accordance with Christian principles.
Rock of Calvary board of Trustees have the responsibility of co-operating with the leader in charge, Prophet Tayo Apara, in promoting in the ecclesiastical parish, the whole mission of the Church, pastoral, evangelistic, social and Christian unity.
The board of Trustees is committed to enabling as many people as possible to worship at our church and to become part of our parish community at Rock of Calvary. The board of Trustees maintains an overview of worship throughout the parish and makes suggestions on how services can involve the many groups that live within the church. Our services and worship put faith into practice through prayer and scripture, music and sacrament.
When planning our activities for the year, the Church leader and the board of Trustees have considered the Commission's guidance on public benefit and, in particular, the specific guidance on charities for the advancement of religion. In particular, we try to enable ordinary people to live out their faith as part of our parish community through:
- Worship and prayer; learning about the Gospel; and developing their knowledge and trust in Jesus 2. Provision of pastoral care for people living in the parish. 3. Missionary and outreach work.
Achievements and performance
On the whole not much happened during the financial year ended 31 March 2022 under review due to the impact of the pandemic/lockdown. All our services and programmes were online - YouTube, Facebook, Zoom and Prayer line. But we kept in touch with members via regular phone calls.
Financial review
The total incoming resources increased by approximately 23.42% on the previous year to £66,27 (2021- £53,696). The total resources expended however increased by a larger matgin of 74.86% on the previous year to £76,944 ( 2021 - £44,003). The overall effect resulted in net expenditure over income of £10,671 as compared to the previous year net income of £9,693.
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THE ROCK OF CALVARY MINISTRIES
Trustees' Annual Report (continued)
Year ended 31 March 2022
Plans for future periods
Our plans for the coming are great. We intend:
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To reach out and to disciple the unsaved for Christ.
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To equip Believers to be rooted and grounded in the Word.
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To develop a strong missionary church.
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To increase church attendance.
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To develop an enthusiastic multicultural church.
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To develop a vibrant and godly Youth Ministry.
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To practically engage with our local community more.
RESERVES POLICY
The trustees recognise the need to maintain reserves. Unrestricted funds are needed to cover the dayto-day administration and support costs of the charity and also to have funds available for specified projects in the future should the need arise.
RISK MANAGEMENT
The major risks to which the charity is exposed have been identified as the safeguarding the assets of charity and ensuring funds are applied for charitable purposes. Systems and strategies have been put in place to mitigate these risks. Income and expenditure is monitored through the setting of budgets which are compared with actual figures.
The trustees' annual report was approved on 17 August 2022 and signed on behalf of the board of trustees by:
Pastor Akintayo M Apara Trustee
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THE ROCK OF CALVARY MINISTRIES
Independent Examiner's Report to the Trustees of THE ROCK OF CALVARY MINISTRIES
Year ended 31 March 2022
I report to the trustees on my examination of the accounts of THE ROCK OF CALVARY MINISTRIES ('the charity') for the year ended 31 March 2022.
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
In connection with my examination, no matter has come to my attention:
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(1) which gives me reasonable cause to believe that in any material respect the requirements:
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to keep accounting records in accordance with section 386 of the Companies Act 2006, and
to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities have not been met, or
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached."
Mr Harry Koranteng FCCA,ACMA Independent Examiner
6 Greenwich Quay Clarence Road London SE8 3EY
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THE ROCK OF CALVARY MINISTRIES
Statement of Financial Activities
Year ended 31 March 2022
| 2022 | 2022 | 2021 | ||
|---|---|---|---|---|
| Unrestricted | ||||
| funds | Total funds | Total funds | ||
| Note | £ | £ | £ | |
| Income and endowments | ||||
| Donations and legacies | 4 | 66,273 | 66,273 | 53,696 |
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|
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| Total income | 66,273 | 66,273 | 53,696 | |
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| Expenditure | ||||
| Expenditure on charitable activities | 5,6 | 76,944 | 76,944 | 44,003 |
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| Total expenditure | 76,944 | 76,944 | 44,003 | |
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||
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| Net (expenditure)/income and net movement in | ||||
| funds | (10,671) | (10,671) | 9,693 | |
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| Reconciliation of funds | ||||
| Total funds brought forward | 24,471 | 24,471 | 14,778 | |
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| Total funds carried forward | 13,800 | 13,800 | 24,471 | |
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The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 7 to 12 form part of these accounts.
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THE ROCK OF CALVARY MINISTRIES
Statement of Financial Position
31 March 2022
| 2022 | 2021 | ||
|---|---|---|---|
| Note | £ | £ | |
| Fixed assets | |||
| Tangible fixed assets | 11 | 4,180 | 5,075 |
| Current assets | |||
| Debtors | 12 | 10,687 | 18,413 |
| Cash at bank and in hand | 2,551 | 3,403 | |
|
|
||
| 13,238 | 21,816 | ||
| Creditors:amounts falling due within one year | 13 | 3,618 | 2,420 |
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|
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| Net current assets | 9,620 | 19,396 | |
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| Total assets less current liabilities | 13,800 | 24,471 | |
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| Net assets | 13,800 | 24,471 | |
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| Funds of the charity | |||
| Unrestricted funds | 13,800 | 24,471 | |
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| Total charity funds | 14 | 13,800 | 24,471 |
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These accounts were approved by the board of trustees and authorised for issue on 17 August 2022, and are signed on behalf of the board by:
Pastor Akintayo M Apara Trustee
The notes on pages 7 to 12 form part of these accounts.
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THE ROCK OF CALVARY MINISTRIES
Notes to the Accounts
Year ended 31 March 2022
1. General information
The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is 158 Rye Lane, Peckham, London, SE15 4NB.
2. Statement of compliance
These accounts have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Charities Act 2011.
3. Accounting policies
Basis of preparation
The accounts have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The accounts are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements does not requires management to make judgements, estimates and assumptions that affect the amounts reported.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
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THE ROCK OF CALVARY MINISTRIES
Notes to the Accounts (continued)
Year ended 31 March 2022
3. Accounting policies (continued)
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
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income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
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legacy income is recognised when receipt is probable and entitlement is established.
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income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
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income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
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expenditure on raising funds includes the costs of all fundraising activities, events, noncharitable trading activities, and the sale of donated goods.
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expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
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other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
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THE ROCK OF CALVARY MINISTRIES
Notes to the Accounts (continued)
Year ended 31 March 2022
3. Accounting policies (continued)
Tangible assets (continued)
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
| Fixtures and fittings | - | 25% reducing balance |
|---|---|---|
| Equipment | - | 25% reducing balance |
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cashgenerating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.
4. Donations and legacies
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2022 | Funds | 2021 | |
| £ | £ | £ | £ | |
| Donations | ||||
| Donations and Tithes | 48,062 | 48,062 | 27,134 | 27,134 |
| Thanksgiving and Harvest | 2,656 | 2,656 | 3,383 | 3,383 |
| Building fund | 4,765 | 4,765 | 1,365 | 1,365 |
| Pledge and Seed | 8,680 | 8,680 | 11,075 | 11,075 |
| Woman ministry | 2,110 | 2,110 | – | – |
| Gifts | ||||
| HMRC Gifts aid | – | – | 10,739 | 10,739 |
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| 66,273 | 66,273 | 53,696 | 53,696 | |
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THE ROCK OF CALVARY MINISTRIES
Notes to the Accounts (continued)
Year ended 31 March 2022
5. Expenditure on charitable activities by fund type
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2022 | Funds | 2021 | |
| £ | £ | £ | £ | |
| Evangelism and programs | 62,086 | 62,086 | 36,560 | 36,560 |
| Donations,bible class and church | ||||
| supplies | 11,230 | 11,230 | 5,545 | 5,545 |
| Spiritual items and fruits | 2,428 | 2,428 | 1,178 | 1,178 |
| Support costs | 1,200 | 1,200 | 720 | 720 |
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| 76,944 | 76,944 | 44,003 | 44,003 | |
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6. Expenditure on charitable activities by activity type
| Activities | ||||
|---|---|---|---|---|
| undertaken | Total funds | Total fund | ||
| directly | Support costs | 2022 | 2021 | |
| £ | £ | £ | £ | |
| Evangelism and programs | 62,086 | – | 62,086 | 36,560 |
| Donations,bible class and church | ||||
| supplies | 11,230 | – | 11,230 | 5,545 |
| Spiritual items and fruits | 2,428 | – | 2,428 | 1,178 |
| Governance costs | – | 1,200 | 1,200 | 720 |
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| 75,744 | 1,200 | 76,944 | 44,003 | |
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7. Net (expenditure)/income
| Net (expenditure)/income is stated after charging/(crediting): | |||
|---|---|---|---|
| 2022 | 2021 | ||
| £ | £ | ||
| Depreciation of tangible fixed assets | 1,395 | 1,693 | |
|
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| 8. | Independent examination fees | ||
| 2022 | 2021 | ||
| £ | £ | ||
| Fees payable to the independent examiner for: | |||
| Independent examination of the accounts | 1,200 | 720 | |
|
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9. Staff costs
The average head count of employees during the year was Nil (2021: Nil).
No employee received employee benefits of more than £60,000 during the year (2021: Nil).
10. Trustee remuneration and expenses
For the year ended 31 March 2022 the church paid rent of £16,400 on behalf of the general overseer Pastor Moses Apara.
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THE ROCK OF CALVARY MINISTRIES
Notes to the Accounts (continued)
Year ended 31 March 2022
11. Tangible fixed assets
| Fixtures and | |||||
|---|---|---|---|---|---|
| fittings | Equipment | Total | |||
| £ | £ | £ | |||
| Cost | |||||
| At 1 April 2021 | 2,050 | 23,866 | 25,916 | ||
| Additions | 500 | – | 500 | ||
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| At 31 March 2022 | 2,550 | 23,866 | 26,416 | ||
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| Depreciation | |||||
| At 1 April 2021 | 1,180 | 19,661 | 20,841 | ||
| Charge for the year | 343 | 1,052 | 1,395 | ||
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| At 31 March 2022 | 1,523 | 20,713 | 22,236 | ||
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| Carrying amount | |||||
| At 31 March 2022 | 1,027 | 3,153 | 4,180 | ||
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| At 31 March 2021 | 870 | 4,205 | 5,075 | ||
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| 12. | Debtors | ||||
| 2022 | 2021 | ||||
| £ | £ | ||||
| Other debtors | 10,687 | 18,413 | |||
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| 13. | Creditors: amounts falling due within one year | ||||
| 2022 | 2021 | ||||
| £ | £ | ||||
| Accruals and deferred income | 3,618 | 2,420 | |||
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| 14. | Analysis of charitable funds | ||||
| Unrestricted funds | |||||
| At | |||||
| At | 31 March 20 | ||||
| 1 April 2021 | Income | Expenditure | 22 | ||
| £ | £ | £ | £ | ||
| General funds | 24,471 | 66,273 | (76,944) | 13,800 | |
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| At | |||||
| At | 31 March 202 | ||||
| 1 April 2020 | Income | Expenditure | 1 | ||
| £ | £ | £ | £ | ||
| General funds | 14,778 |
53,696 |
(44,003) |
24,471 |
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THE ROCK OF CALVARY MINISTRIES
Notes to the Accounts (continued)
Year ended 31 March 2022
15. Analysis of net assets between funds
| Unrestricted | Total Funds | |
|---|---|---|
| Funds | 2022 | |
| £ | £ | |
| Tangible fixed assets | 4,180 | 4,180 |
| Current assets | 29,806 | 29,806 |
| Creditors less than 1 year | (3,618) | (3,618) |
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| Net assets | 30,368 | 30,368 |
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| Unrestricted | Total Funds | |
| Funds | 2021 | |
| £ | £ | |
| Tangible fixed assets | 5,075 | 5,075 |
| Current assets | 21,816 | 21,816 |
| Creditors less than 1 year | (2,420) | (2,420) |
|
|
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| Net assets | 24,471 |
24,471 |
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THE ROCK OF CALVARY MINISTRIES
Management Information
Year ended 31 March 2022
The following pages do not form part of the accounts.
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THE ROCK OF CALVARY MINISTRIES
Detailed Statement of Financial Activities
Year ended 31 March 2022
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Income and endowments | ||
| Donations and legacies | ||
| Donations and Tithes | 48,062 | 27,134 |
| Thanksgiving and Harvest | 2,656 | 3,383 |
| Building fund | 4,765 | 1,365 |
| Pledge and Seed | 8,680 | 11,075 |
| Woman ministry | 2,110 | – |
| HMRC Gifts aid | – | 10,739 |
|
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| 66,273 | 53,696 | |
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| Total income | 66,273 | 53,696 |
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| Expenditure | ||
| Expenditure on charitable activities | ||
| Rent | 37,545 | 24,593 |
| Repairs and maintenance | 5,970 | 3,340 |
| Other establishment | 625 | 478 |
| Other motor/travel costs | 3,190 | – |
| Legal and professional fees | 3,670 | 1,720 |
| Telephone | 539 | 416 |
| Other office costs | 1,100 | 1,010 |
| Depreciation | 1,394 | 1,693 |
| Revival,Bible class and Spiritual items | 5,018 | 2,628 |
| Evangelism and Charitable donations | 7,428 | 2,185 |
| Praise and Worship/Catering and Hospitality | 2,999 | 1,500 |
| Christmas Party and Welfare | 7,466 | 4,440 |
|
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| 76,944 | 44,003 | |
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| Total expenditure | 76,944 | 44,003 |
|
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| Net (expenditure)/income | (10,671) | 9,693 |
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THE ROCK OF CALVARY MINISTRIES
Notes to the Detailed Statement of Financial Activities
Year ended 31 March 2022
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Expenditure on charitable activities | ||
| Evangelism and programs | ||
| Activities undertaken directly | ||
| Direct charitable activity 1 - rent | 37,545 | 24,593 |
| Direct charitable activity 1 - repairs & maintenance | 5,970 | 3,340 |
| Direct charitable activity 1 - Printing, postage and stationery | 625 | 478 |
| Direct charitable activity 1 - other motor/travel costs | 3,190 | – |
| Direct charitable activity 1 - legal and professional fees | 2,470 | 1,000 |
| Direct charitable activity 1 - telephone | 539 | 416 |
| Direct charitable activity 1 - musicians | 1,100 | 1,010 |
| Direct charitable activity 1 - depreciation | 1,394 | 1,693 |
| Direct charitable activity 1 - Revival | 2,590 | 1,450 |
| Direct charitable activity 1 - Evangelism | 5,332 | 1,800 |
| Direct charitable activity 1 - Praise and Worship | 1,331 | 780 |
|
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| 62,086 | 36,560 | |
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| Donations,bible class and church supplies | ||
| Activities undertaken directly | ||
| Direct charitable activity 2 - Charitable donations | 2,096 | 385 |
| Direct charitable activity 2 - Catering and Hospitality | 1,668 | 720 |
| Direct charitable activity 2 - Welfare | 7,466 | 4,440 |
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| 11,230 | 5,545 | |
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| Spiritual items and fruits | ||
| Activities undertaken directly | ||
| Direct charitable activity 3 - Spiritual Items and Fruits | 2,428 | 1,178 |
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| Governance costs | ||
| Governance costs - accountancy fees | 1,200 | 720 |
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| Expenditure on charitable activities | 76,944 | 44,003 |
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