THE ROCK OF CALVARY MINISTRIES ANNUAL ACCOUNTS AND REPORTS CHAIUTY REGISTRATION NUMBEIL. 1120708 THE ROCK OF CALVARY MINISTRIES Annual Accounts and Reports 31 March 2025 THE ROCK OF CALVARY MINISTRIES Year ended 3 1 March 2025 Trustees. annual report Independent examiner'8 report to the trustees Statement of fill8JJcial activities StateTnent of fizLancial position Notes to the accounts The followlng page$ do not form part of the ae¢oDDts Detsiled statement of fiti8ncigJ activities 13 Notes to the detailed statwncnt of financial activities 14 Trustees, Annual Report Year ended 3 1 March 2025 The tru$tees present their report and the unaudited aecount8 of the charity foT the year ended 31 March 2025. Reference and admln18tratlv¢ detalls Reglsteted charlty Dame THE ROCK OF CALVAIiY MINISTRtES Chazlty teglstrntlon nuwber 1120708 Prlnclpal offt¢e 6 Greenwich Quay Clarence Road London SE8 3EY The tru8tee$ Enoch Ayodeji Alabi Kazeem Olajekan Pastor Akintayo M ApaTa Structure¥ governance and managejnent The clwity i$ governed by a constitution adopted on I l JurLe 2007, as amended by a resolution on 17 August 2007. Objectlves and actlvltle$ Tbc ￿l91n objects of the ch￿lty are the advancement of the christi￿ faith, the relief of sickness, povety. and the advancement of education in accordance Chri$ti8n principles. Rock of Calvary board of Trustees have the responsibility of co-operating with the leader in ch8rge, Prophet Tayo Ap￿a, in promoting in the ecclesiastical parish, the whole mission of the Church, pastoral, evangelistic, social. and Christian unity. The board of Trustees is comznitted to enabling as m9rAy people as possible to worship at our church and to become part of our parish community at Rock of Calvary. The b0￿d of Trn8tees maintains an overview of worship throughout the parish Ènd makes suggestions on bow services t￿ involve the many groups that live within the chuTch. Our sernices worship put faith into practice throuEh prayer 9nd scripture, music, and sacTaEllent. When planning our activities for the year, the Church leader and the board of Trnstees have eonsidered the CoEEJmission's guidance on publÉc benefit and, in particular, the speeific guidance on Charities for the adv8ncement of religion. tn particular, we try to enable ordinary people to live out their f￿th as p&rt of our parish community through: l. Worship and prayer; learning about the Gospel" 8nd developing their knowledge 2nd trnst in Jesus 2. Provi&on of pastoral carc for people livin8 in th¢ E￿15￿. 3. Missionary and outreach work. Trustees, Annual Report leontlnuedl Year ended 31 Mareh 2025 Throughout the year ended 31 March 2025. the activitie$ of the ehurch continued with increased in attendance to Church activities held throughout the year. The church has now incorporated online seThryces as p8rt of its norn￿1 services. The Youth, Woman miELiStry and the church as a whole had a fantastic training and educative programs orgaDised by thc church. The total incoming resources increased by approximately 34.43 % on the previous year172,739 in 2024 to £97,780 in 20251. The total resources expended deereased by 15.29 % on the previous year1£75,759 in 2024 to 87,345 in 20251. The over￿1 effect resulted in net Net Income of £12,791 in 2025. Plans foT future perlods Our plaJ]s for the coming are great. We intend: l. To reach out and to disciple the unsaved for Cltrist. 2. To equip Believers to be rooted and grounded in the Word. 3. To develop a strong missionary church. 4. To ineTease church attendence. 5. To develop an enthusiastic mUltiC￿t￿ra1 chureh. 6. To develop a vibrant and godly Youth Ministry. 7. To practically engage with our local community more. RESERVES POLICY The trustees recognise the need to maint8in reserves. Unrestricted fvnds gre needed to cover tILe day-to-day administration and support Costs of the charity and al80 to have funds available foT specified projects in the future shouia the need arise. RISK MAIIAGEMENT The major risks to which the chaTity is exposed have been identEfied as the s8leguarding the assets of charity Rnd ensuring funds are applied for charitablc purposes. Systems and strate￿.¢8 have been put in place to Mitigate these risks. Income and Lxpenditure are monitored through the setting of budgets which are co]npared with actll￿ fwires. The trnstee8' arjnual report was approved ou 22 January 2025 and signed on behalf of the board of trustees by.. Pastor Akir2tayo M Apara Tru$tee Independent Examlner's Report to the trnstees of THE ROCK OF CALVARY MINISTRIES Year ended 3 1 March 2025 I report to the trustees on Jny exatnination of the accounts of THE ROCK OF CALVARY MINISTRIES Cthe charity'l for the year ended 3 1 M8r¢b 2025. Reuponslbllltles basls of report As the trustees of the chtirity, you are responsible for the preparation of the accounts in accordance with the requirements of the ChaTities Act 2011 (the Act). report in respect ofmy examination of the charity's aecounts carried out under seetion 145 of the 2011 Act alld in caTrying out Jny &vmination I have followed ajl the applicable Directions given by the Clwity Cojntnission under Section 14515llbl of the Act. Independent ¢Kamlner'$ $tatemeot - matter of concern Identltled In connection uryth my examination, no ruatter has come to my attcntion: 111 which gives llLe reasonable cause to believe that in material respect the requirements: to keep accounling records ill accordance with Section 386 of the Compauies Act 2006, 8nd to prepare ac Tequirements of Statement o ec 121 to whic accounts acco eco ctice.. A entioll sh with the accounting records, eollLply with the accounting pa￿e8 Act 2006 aud with the ruethods and principles of the ounting and Reporting by Charities have not been met, or uld me be Charles Lu Tndepende AC MBA er Tel:O?077298?/0 Statement of Flnanelal Actlvltles Year ended 3 1 March 2024 2024 Unrestricted nds Total fimd¥ Total ￿lld$ Income and end¢)wments Donations and legacies Total Income 97,780 97,970 72,.739 97,780 97,970 72,739 ExpendltUTe Expenditure on chaJAtable actisities Total expenditure 87,345 87,345 75,759 87,345 87,345 7S,759 Net expendltuTe and net movemeut In funds 10,435 10,435 13.0201 Reconclllatlon of funds Total fvnd$ brought forward 2,446 2,446 2,446 Totsi funds carri¢d fonvard 12,791 12,791 2,446 The statement of fjnancid activities includes all g8in8 and losses reeognised in the year. All income and expendtture derive from continuing activities. ststement of Flnancial Posltlon 3 1 March 2025 2024 Nots Faxed a88¢ts Tangible fjxed assets li 3,087 2,487 CuTTent as8¢ts Cash at bauk aTJd in hand Debtor 186 9,608 3,908 Credltors: amount8 falllng due wlthln one year Net current IlablJitie8 12 3,949 9.794 1411 Totsl a88ets les# euTrent llabuxtles 12,881 2,466 Net assets 2,466 Funds of the elwlty Total fund broU￿t forW￿d unrestricted ￿ndS 2.446 10,435 2,466 Totsl charlty fimds 18 12,881 2,466 These aecounts were approved by the board of trustees and authorised for issue on 22 January 2025, and are signed on behalf of the board by.. Pastor Akintayo M Awa Trnstee Elotes to the Accounts Year ended 3 1 March 2025 Geuexal InfOrn￿tIo The chaTity is a public berjefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is Unit 5 Greenwich Quay, Clarence Road, London, SE8 3EY. Statement of eojnpllanee These accounts have been Prep￿ed in eompiiance with FRS 102, 'The Financial Reportitig StandaTd app]icable in the UK the Repub]ic of Ireland,, the Statement of Recommended Practice applicable to cbarities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (Charities SORP IFRS 10211 alld th¢ Ch￿ltieS Act 2011. Aceountang pollcles Basls of prepAAtlon The accounts have been prepared on the historical cost basis, as modified by the revatuation of certain finaneial assets and liabilities 8rAd investment properttes measured at fair value through income or expenditure. The accounts are prepared in $ter13ng, wbith is the function8J currenry of the entity. Goln¥ ¢oncern There rnaterial llncertaintses about the th￿Ity'S ability to continue. Judgements and key source$ of estlmatlon uncertalnty The preparation of the financial statements does not requires Jnanagement to make judgements, esti￿ateS and assumptions that affect the amounts Teported. Fuad a¢¢oulltthg UnrestI?cted funds are available for use at the discretion of the trustees to further anv of the charIt￿S PllLposes. Designated funds unrestricted funds earniarked by the trustees for particular future Project or commitment. Restricted funds subjected to restrictions on their expendituEe declared by thc donor or througb the terllLS of an appe￿, and fall into one of two sub-classes: restricted inc0￿e funds or endowment futtds. THE ROCK OF CALVARY MINISTRIES Notes to the Accounts ieontlnwe41 Year ended 31 March 2025 Aceountlng pollcles {contln*edJ Jn¢omlng resow All incoming resouTces included in the ststement of fU￿]ela1 activities when entitle￿ellt has passed to the Ch￿lty. it is probable that the economic benefLt$ associated ￿ryth the transaction will flow to the charkty and the amount CafL be rejiably measured. Th¢ following specific policies are applied to particular categories of income". ineome from donations Or grants is reCO￿lSed when there is evidence of entitlettkent to the , receipt is probable and its amount can be measured re]iably. legacy income is re¢ognised when receipt is probable aELd entitlement is established. incollLe from donated goods 18 measured at the fair value of the goods unle$8 this LS impractical to measure reliably> in which Case the value is derived from the cost to the donoT or the estimated resale value. Donated facilits¢s and senrices recognised irL the accounts when r¢ceived if the value ean be reiiably measured. No £mounts are included for the contribution olgeneral volunteers. income from contracts for the supply of sernices is recognised with the delivery of the contracted service. This is classified as unrestrieted fuuds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in whi¢h case it may be regarded as restricted. Resouw¢8 wended Expenditure is recognised on an accnLals basi8 as a ]iability is incurred. Expenditure includes any VAT which cannot be ￿llY recovered, and is cia$¥ified under headings of the statement of finaneiÈl aCti￿tieS to which it relates.. expenditure on raising fvnds includes the costs of alt fundraising activities. events, non- Ch￿Itable trading acti￿tieS, and the sale of donated goods. expenditure on eharitable activities includes all costs incurred by a charity in undert&king activities that further it8 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. other expenditure includes all expenditure that is neither related to raising ￿ndS for the charity nor p￿t of its expenditure on charitable activities. All eosts ar¢ alloeated to expEllditure categorles refiectlng the use of the ¥esource. Dircrt costs attributable to a single a¢tiThoty are ajlocated directly to that activity. Shared tosts are apportioned between the aCti￿tieS they contribute to on a reasonable* justifiable and consistent basis. Tan¥lble Tangible assets Initially recorded at co$t, and subsequently stated at cost less accumulated depreciation and impairnient losses. Any tangible assets carried at revalued Éllllounts recorded at the fair value at the date of revaluation less any subsequent aeeullLulated depreciation and subsequent accumulated impairment losses. THE ROCK OF CALVARY MZNISTRIES Notes to the Aceounts {contln¥i*l) Year ended 3 1 March 2025 A¢couoting poll¢l¢$ (ContIn￿) Tanglble a89ets (COFrtlnuedJ An incrcase in the cayrying amount of an asset as a result of a revajuation, 1$ reCO￿lSed in other recognised g8in8 and losses, unless it Teverses a charge for impairment that has previously been recognised as expelldi￿re within the statement of fingncial aCti￿ties. A decrease in the tarying amount of an asset as & result of revaluktion, 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 gaitis and losse$ on the statejnent of fjnancial actiwties. Depr¢¢iatloa Depreciation is calculated so as to WL7te off the cost or v8luation Df an asset. less its residugj value, over the useful economic life of that asset as follows: Fixtures 9￿d fittings Equipment 25 % reducing b818nce 250/0 reducing balance Impalrnient of flx¢d assets A review for indicators of imp&intLent is caxried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying v8lue exceed8 the recoverable amount, the asset is impaired accordingly. Prior impairnients are also reviewed for Possible reversal at eacb reporting date. For the purposes of impairment testing. when it is not possible to estirllate the recoverable amount of an individual as8Ct, an estimate is made of the recoverable 8mount of thecash- generating unit to which the asset beIongs. The casb-generating unit is the smallest identifiabl¢ group of assets that includes the asset and generates cash infiows that largely independent of the tash intlows fri￿￿ otheT assets or groups of assets. For impair￿ent test2ng of goodwill, the goodwill acquired IEL a business cornbination 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 as&gned to those units. Donatlons and legacles Unrestricted Total Fi￿d$ Unrestricted Total Punds Funds Funds 2024 Donatlons Donation* gnd Tithe6 Thanksgiving and Harvest Building fund Pledge and Seed 71,905 5. 125 6,478 7.215 2105 71.905 5,125 6,478 7,215 2105 49,328 2,135 3,780 3,438 1,240 49,328 2,135 3,780 3.438 1,240 Gifts HMRC Gffts 8id 4,952 4,952 16,725 16,725 97.780 97,780 67.636 67,636 THE ROCK OF CALVARY MINISTRIES Notes to the Accounts (contlntr¢dJ Year ended 3 1 March 2025 Expendlture on eharftable octlvltles by fund type Unrestricted Totsl Funds Unrestiieted Total Funds Funds 2025 Funds 2024 Evangelism and progra￿8 Donations, bible class and church 8upp]ies Spiritual items and fruits 8llpport costs 66,074 66,074 62,418 62,418 14,102 4,124 3,045 14.102 4,124 3,045 10.389 1.750 1.202 10,389 1,750 1,202 87,345 87.345 75,759 75.759 Exp¢odlture on ¢]WTltable oetlvltl¢$ by actlvlty type ACti￿tieS undertaken diiectly Support CQ8ts Totsl fund8 Totsl fLmd 2025 2024 Evangelism and progra￿8 Donations, bible class and chureh supplies Spiritual ite￿$ and frnits GoveEn8nce costs 73,643 73,643 62,418 12,177 1,750 12.177 1,750 1,525 10.389 1,750 1,200 1,525 85,820 1,525 87,345 75,970 Iltt eKpeJMllture Net expenditure is Stated after chargingllcredilingl: 2025 2024 Depreciation of tangtble fLYed assets 175 825 Indepeudeot exAmlnatk*o fees 2023 Fees payable to the independent ejwniner for.. Independent exarnination of the accounts 1,200 1.200 Staff eo3ts The &Ver￿e head count of employees during the year was Nil12025: Nill. No employee Teceived employee benefits of more than £60,000 during the year12025: Nill. 10. Tnwtse remuneratlon and expeng There were no truste¢8' rernuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2025. THE ROCK OF CALVARY MINISTRIES Notes to the Aceounts (contlntt¢ Year ended 3 1 March 2025 I l. TaDglble flxed Asqets Fiztures and fittings Equipment Cost At l April 20243 Addition 2,550 600 24,046 26,596 600 At 31 Mat¢h 2025 3,150 24.046 27,196 DEpreclatlon At l April 2024 Charge for the year At 31 Mareh 2025 1.972 22,137 24,109 1,178 22,137 24,109 At 81 bfarch 2025 578 1,909 2,487 At March 2024 578 1,909 2.487 12. Cr¢dltors: amounts faulng due wlthln one ye*r 2025 2024 Accruals aDd deferred income 3,949 3,048 13. Analy•l8 ofcharltable fund# Unrestricted funds At l April 2024 31 March 20 25 Income ￿￿endItElre Genergl fi￿d$ 5,466 72,739 175,7591 2,446 At 31 M￿ch 202 At l April 2022 Income Expenditure General fvnds 13,800 67,636 175,9701 5,466 io- THE ROCK OF CALVARY MINISTRIES riotes to the Accounts fvonttsL¥* Year ended 31 March 2025 14. Analy818 of net as*¢ts b¢tw¢en funds Unrestricted Totsl Funds Funds 2025 Tangible fixed assets Current assets Creditors less th8n l year Net ￿￿ets 3,087 9,794 3,087 9,794 12,881 12,881 li