Salem Ministries
(Registered Charity 1125051)
Salem Ministries
FINANCIAL STATEMENTS AND TRUSTEES' REPORT
For The Year Ended 30 September 2025
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Salem Ministries
Contents
| Contents | |
|---|---|
| General Informaton | 1 |
| Incorporaton | 1 |
| Reference and Administratve Details | 1 |
| Trustees Report for the Year Ended 30 September 2025 | 3 |
| Structure, Governance and Management | 3 |
| Statement of Trustees' Responsibilites for the Year Ended 30 September 2025 | 5 |
| Independent Examiner's Report to the Trustees | 6 |
| Statement of Receipts and Payments for the Year Ended 30 September 2025 | 7 |
| Statement of Assets and Liabilites for the Year Ended 30 September 2025 | 8 |
| Notes to the Financial Statements for the Year Ended 30 September 2025 | 9 |
| Detailed Statement of Receipts and Payments for the Year Ended 30 September 2025 | 11 |
General Information
INCORPORATION
The charitable body was incorporated on 17 July 2008.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity Number: 1125051 (England and Wales)
Organisation type
STANDARD REGISTRATION
Registered office
47 HENDERSON DRIVE DARTFORD DA1 5LF
Trustees
MR. S. AKINULI MISS. K. KOROMA
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Salem Ministries
Independent Examiner
ELIZABETH ROBERTS ACCOUNTANTS AND BUSINESS ADVISORS LTD 3rd Floor 207 Regent Street London United Kingdom W1B 3HH
Bankers
HSBC Bank
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Salem Ministries
Trustees Report for the Year Ended 30 September 2025
The Trustees present their report with the financial statements of the charity for the year ended 30 September 2025.
The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities' issued in March 2005.
STRUCTURE, GOVERNANCE, AND MANAGEMENT
Structure
The charitable body was established by a charitable trust deed on 17 July 2008.
The trustees who served during the year were: MR. S. AKINULI MISS. K. KOROMA
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
The charity's objects are:
- 1 THE ADVANCEMENT OF THE CHRISTIAN FAITH WORLDWIDE. 2 THE FURTHERANCE OF THE CHARITABLE WORK OF THE CHARITY BY THE ADVANCEMENT OF SUCH OTHER CHARITABLE PURPOSES AS THE TRUSTEES SHALL FROM TIME TO TIME DECIDE THE OBJECTS TO BE CARRIED OUT AS A PROCLAMATION OF THE BELIEFS SET OUT IN CLAUSE 5
Classification What • RELIGIOUS ACTIVITIES
Who • THE GENERAL PUBLIC/MANKIND How • PROVIDES SERVICES
Financial Review
The Trustees report a profit of £
ON BEHALF OF THE TRUSTEES:
Trustee Name MR. S. AKINULI Signature
Date
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Salem Ministries
Statement of Trustees' Responsibilites for the Year Ended 30 September 2025
The Trustees are responsible for preparing the financial statements in accordance with the applicable law and UK Generally Accepted Accounting Practice (GAAP).
Charity law and Church regulations require the Trustees to prepare financial statements for each financial year, which gives a true and fair view of the state of affairs of the charitable body and of its income and expenditure for the financial year.
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In doing so, the Trustees are required to:
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a) Select suitable accounting policies and apply them consistently;
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b) Observe methods and principles in the Charities SORP;
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c) Make judgments and estimates that are reasonable and prudent;
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d) Follow applicable accounting standards and statements of recommended practice, subject to any material departures disclosed and explained in the accounts;
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e) Prepare the financial statements on the going concern basis unless it is inappropriate to assume that the charity will continue in operation.
The Board of Trustees is responsible for maintaining proper accounting records that disclose with reasonable accuracy at any time the financial position of The New Congregation of Cherubim and to enable them to ensure that the financial statements comply with the Church Accounting Regulations and Charities Act 2011. They are also responsible for safeguarding the assets of the Salem Ministries and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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Salem Ministries
Independent Examiner's Report to the Trustees
Independent Examiner's Report to the Trustees of The New Congregation of Cherubim
I report on the accounts for the year ended 30 September 2025 set out on pages seven to eleven.
Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year (under Section 144(2) of the Charities Act 2011 (the 2011 Act)) and that an independent examination is required.
It is my responsibility to:
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examine the accounts under Section 145 of the 2011 Act
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to follow the procedures laid down in the General Directions given by the Charity Commission (under Section 145(5)(b) of the 2011 Act); and
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to state whether matters have come to my attention.
Basis of the independent examiner's report
My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair view ' and the report is limited to those matters set out in the statements below.
Independent examiner's statement
In connection with my examination, no matter has come to my attention:
(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 130 of the 2011 Act; and
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to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the 2011 Act 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.
Omotoyosi Akinfemiwa
Elizabeth Roberts Accountants and Business Advisors LTD 3[rd] Floor 207 Regent Street London W1B 3HH
Date: 29/07/2026
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Salem Ministries
Statement of Receipts and Payments for the Year Ended 30 September 2025
| RECEIPTS Oferings and donatons HMRC Payments PAYMENTS Events & Conferences Management and administraton costs Governance costs Total Payments Net of receipts/(payments) Transfer between funds Cash funds this year end |
Unrestricted Funds £ 23.428 5,711 29,139 - -16,835 12,304 - 12,304 |
Restricted Funds £ - - - - - - - - |
2025 Total Funds £ 23,428 5,711 29,139 - -16,835 12,304 - 12,304 |
2024 Total Funds £ 17,955 2,532 20,486 - -14,834 5,652 - 5,652 |
|---|---|---|---|---|
All activities derive from continuing operations
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Salem Ministries
Statement of Assets and Liabilites for the Year Ended 30 September 2025
| ASSETS Cash & Cash Equivalents brought forward Net new Cash and Cash Equivalents Equipments, leasehold & furniture Other monetary Assets Total Assets LIABILITIES Liabilites General Funds: Net Assets Total Funds & Liabilites |
Unrestricted Funds £ - - - |
Restricted Funds £ - - - - - - - - |
2025 Total Funds £ 61,691 12,304 - - 73,995 - 73,995 73,995 |
2024 Total Funds £ 56,039 5,652 - - 61,691 - |
|---|---|---|---|---|
| 61,691 | ||||
| 61,691 |
The financial statements were approved by the Board of Trustees on ………. and were signed on its behalf by:
Trustee Name Mr S. Akinuli Signature
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Salem Ministries
Notes to the Financial Statements for the Year Ended 30 September 2025
1. ACCOUNTING POLICIES
1.1. Accounting convention
The financial statements have been prepared on the cash basis of accounting. Under this basis, revenues and related assets are recognized when received rather than when earned and expenses are recognised when paid rather than when the obligation is incurred.
The cash basis of accounting differs from generally accepted accounting principles primarily because the Organisation has not recognized contributions and program service fees receivable, and accounts payable to vendors, and their related effects on the change in net assets.
1.2. Cash and Cash Equivalents
Cash and cash equivalents consist of cash in bank and money market funds.
1.3. Taxation
The charity is exempt from corporation tax on its charitable activities and has not been involved in trading or other profit generating activities.
1.4. Fund accounting
The donations to the charity were unrestricted.
1.5. Fixed asset valuation
The accounts have been prepared without taking into account the valuation of current fixed assets.
2. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 30 September 2020.
3. MOVEMENT IN FUNDS
| 30 September 2025 £ Unrestricted Funds: General 73,995 Restricted Funds General 0 TOTAL FUNDS 73,995 Net movement in funds, included in the above are as follows: Receipts £ Unrestricted Funds: General 73,995 Restricted Funds: General - TOTAL FUNDS 73,995 |
30 September 2025 £ 73,995 |
Net movement in funds 30 September 2024 £ £ 61,691 |
|---|---|---|
| 0 | - | |
| 73,995 | 61,691 | |
| Payments Movement in funds £ £ 61,691 |
||
| - | - - |
|
| 73,995 | 61,691 |
- Winding up or dissolution of the Charity
If upon winding up or dissolution of the charity there remain any assets, after the satisfaction of all obligations, the assets represented by the accumulated funds shall be transferred to some other charitable body or bodies having similar objectives to Salem Ministries.
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Salem Ministries
Winding up (if so agreed and required) shall mainly be in accordance with the steps as set out in the Salem Ministries Trust Deed (Section 10).
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Salem Ministries
DETAILED Statement of Receipts and Payments for the Year Ended 30
September 2025
| RECEIPTS Generated Income Oferings & Tithe HMRC Payments Total Receipts PAYMENTS Management and administratve costs in support of charitable actvites Cheque Bank Charges Accountng fees Governance Costs Professional Services Total Payments Net of Receipts/(payments) |
£ 23,428 7,511 16,771 63 720 |
£ |
|---|---|---|
| - | ||
| 17,554 | ||
| 12,304 |
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