2022-03-31-accounts

Charity No: 1131471

ROCK OF SALVATION APOSTOLIC CHURCH REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

333 EDGWARE ROAD LONDON NW9 6TD

SPEARMANS

ROCK OF SALVATION APOSTOLIC CHURCH

	Contents
		Page
Legal and administrative information		1
Report of the trustees		2-3
Independent Examiner’s Report		4
Statement of Financial Activities		5
Balance Sheet		6
Notes forming part of the financial statements		7-8

ROCK OF SALVATION APOSTOLIC CHURCH

Trustees	O Adekoya
	A Toluwaloju
Charity offices	Unit 25, Orion Business Centre
	Surrey Canal Road
	London
	SE14 5RT
Independent Examiner	Lance Kadiri
	333 Edgware road
	London
	NW9 6TD
Bankers	HSBC
	Woolwich
	London

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ROCK OF SALVATION APOSTOLIC CHURCH

Trustees’ Report for the year ended 31 March 2022

The trustees present their report along with the financial statements of the charity for the year ended 31 March 2022. The financial statements have been prepared in accordance with the accounting policies set out on page 7 and comply with the charity’s trust deed and applicable law.

Trustees

The following were the trustees for the period under consideration. They were appointed by the elders of the church.

O Adekoya A Toluwaloju

The principal custodian of the charity is the pastor in charge.

Appointment of trustees is governed by The Trust deed of the charity. The Board of Trustees is authorized to appoint new trustees to fill vacancies arising through resignation or death of an existing trustee.

Investment Powers

The Trust Deed authorizes the trustees to make and hold investments using the general funds of the charity, but no such investments are presently held.

Constitution, objects and policies

The Charity’s governing document is the trust deed, which is kept at the charity’s principal address.

The objects of the charity continue to be:

• (i) The advancement of Christian religion and education

• (ii) Counselling re marriage, youth, career, parenting, bereavement

• (iii) Support for families

• (iv) Training leaders

• (v) Enhancing social and community integration

Development, activities and achievements

The trustees consider that the performance of the charity this year has been most satisfactory. A total of 150 new members joined the church during the period.

The church would not be able to operate without the continued support of a large number of willing support staff who give their services voluntarily, to assist the church on a freelance basis.

Financial review

A substantial increase in donations by individuals was achieved this year, mainly due to the publicity we received on local radio, which featured the church’s activities in one of their programmes. In addition, our fundraising activities continue to be successful, thanks mainly to the kind donations of members. Office overheads were generally unchanged this year. Funds available are sufficient to permit the Trust to continue in operation in the medium term.

Risk Management

The trustees actively review the major risk which the charity faces on a regular basis and believe that maintaining reserves at current levels, combined with an annual review of the controls over key financial systems, will provide sufficient resources in the event of adverse conditions. The trustees have also examined other operational and business risks faced by the Charity and confirm that they have established systems to mitigate the significant risks.

Future Developments

The trustees are in the process of searching for a new building to house the church. It is hoped that the new building will be ready by the year 2023.

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ROCK OF SALVATION APOSTOLIC CHURCH

Report of the trustees for the year ended 31 March 2022

Reserves policy

It is the policy of the charity to maintain unrestricted funds at a level which equate to approximately 12 months unrestricted expenditure. This provides sufficient funds to cover management and administration and support costs. Unrestricted funds are maintained at least this level throughout the year.

Statement of trustees’ responsibilities

Law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true fair view of the charity’s financial activities during the year and of its financial position at the end of the year. In preparing those financial statements, the trustees are required to:

• (a) select suitable accounting policies and apply them consistently;

• (b) make judgments and estimates that are reasonable and prudent;

• (c) state whether applicable accounting standards and statements of recommended practice have been followed, subject to any departures disclosed and explained in the financial statements;

• (d) Prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in operation.

The trustees are responsible for keeping accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approval

This report was approved by the trustees on January 2023 and signed on their behalf.

O Adekoya Trustee

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ROCK OF SALVATION APOSTOLIC CHURCH

Report of the Independent Examiner to the Trustees of Rock of Salvation Apostolic Church On accounts for the year ended 31 March 2022

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 Act) and that an independent examination is needed.

It is my responsibility to:

• (vi) Examine the accounts (under section 145 of the Charities Act);

• (vii) To follow the procedures laid down in the General Directions given by the Charity Commissioners (under section 145(5)(b) of the Charities Act; and

• (viii) To state whether particular matters have come to my attention.

Basis of Independent examiner’s statement

My examination was carried out in accordance with General Directions given by the Charity Commissioners. 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 the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently, I do not express an audit opinion on the accounts.

Independent examiner’s statement

In connection with my examination, no matter has come to my attention that:

• (i) which gives me reasonable cause to believe that in my material respect the requirements:

• to keep accounting records in accordance with section 130 of the Charities Act and

• to prepare accounts which accord with the accounting records and company with the accounting requirements of the Charities Act

have not been met; or

• (ii) To which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Lance Kadiri 333 Edgware road London NW9 6TD

January 2023

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ROCK OF SALVATION APOSTOLIC CHURCH

Statements of Financial Activities For the year ended 31 March 2022

Incoming Resources Tithes & offering Other operating income Resources Expanded Rent and rates Light and heat Wages and salaries Ministers allowance Instrumentalist Events and activities Men and women’s ministries Telephone and fax Bank charges Stationery and printing Repairs and renewals Travel and subsistence Depreciation Sundry expenses Accountancy fees Donations TV Media Bad debts Legal & Professional Gift aid Honorarium Credit card Employer’s NI Total resources expanded Surplus for the year	Restricted Unrestricted Total Total Funds Funds Funds Funds 2022 2022 2022 2021 £ £ £ £ - - 69, 533 8,149 69,533 8,149 71,828 32,703
	- 77,682 77,682 104,531
	- 36,826 36,826 36,509 - 992 992 948 - 19,200 19,200 16,000 - - - - - 1,000 1,000 1,200 - 5,014 5,014 4,911 - - - - - 802 802 765 - - - - - - - - - 2,638 2,638 1,364 - 661 661 622 - 2,875 2,875 3,594 - 192 192 176 - 500 500 300 - 600 600 200 - - - - - - - - - - - - - - - - - - - - - - - - - 1,429 1,429 996
	- 72,729 72,729 67,585
	- 4,953 4,953 36,946

There were no recognized gains or losses for 2021 and 2022 other than those included in the Statements of Financial Activities.

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ROCK OF SALVATION APOSTOLIC CHURCH

Balance Sheet As at 31 March 2022

Note Fixed Assets Tangible Assets 2 Current assets Debtors 3 Cash at bank and in hand Creditors: amounts falling due within one year 4 Net current assets Total assets less current liabilities Funds Restricted funds 5 Unrestricted funds 5 Accumulated unrestricted funds	2022 £ £ 11,502 162,045 12,371 174,416 (5,203) 169,213 180,715 - 180,715 180,715	2022 £ £ 11,502 162,045 12,371 174,416 (5,203) 169,213 180,715 - 180,715 180,715	2021 £ £ 14,377 151,718 14,665 166,383 (4,998) 161,385 175,762 - 175,762 175,762	2021 £ £ 14,377 151,718 14,665 166,383 (4,998) 161,385 175,762 - 175,762 175,762
		180,715		175,762
		- 180,715		- 175,762
		180,715		175,762

Approved by the trustees in January 2023 and signed on their behalf.

O Adekoya Trustee

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ROCK OF SALVATION APOSTOLIC CHURCH

Notes to the accounts for the year ended 31 March 2022

1. Accounting policies

1.1 Basis of preparation of accounts

These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The financial statements have been prepared in accordance with 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) issued on 16 July 2014 (as updated through Update Bulletin 1 published on 2 February 2016), the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Practice as it applies from 1 January 2015.

The particular accounting policies adopted are set out below.

1.2 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the church and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors which have been raised by the church for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Investment income, capital gains and losses are allocated to the appropriate fund.

1.3 Incoming resources

All incoming resources are included in the Statement of Financial Activities (SOFA) when the church is legally entitled to the income and the amount can be quantified with reasonable accuracy.

Income tax recoverable in relation to donations received under Gift Aid is recognized at the time of the donation.

1.4 Resources expended

All expenditure is accounted for on an accruals basis and has been included under expense categories that aggregate all costs for allocation to activities. Where costs cannot be directly attributed to particular activities they have been allocated on a basis consistent with the use of the resources.

1.5 Tangible fixed assets for use by the charity and depreciation .

Tangible fixed assets for use by the charity are stated at cost less depreciation.

Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Equipment and furniture 25% reducing balance method

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ROCK OF SALVATION APOSTOLIC CHURCH

Notes to the accounts for the year ended 31 March 2022

2. Tangible fixed assets for use by the Charity Cost 1 April 2021 Additions 31 March 2022 Depreciation 1 April 2021 Charge for the year 31 March 2022 Net book value 31 March 2022 31 March 2021 3. Debtors and prepayments Other debtors 4. 5. Creditors: Amounts falling due with one year Other taxes and social security costs Other creditors Statement of funds Unrestricted funds General fund Restricted fund Building fund	Land & Buildings £ 30,000 - 30,000 29,999 - 29,999 1 1 Opening Incoming balance resources £ £ 175,762 77,682 - -	Land & Buildings £ 30,000 -	Plant & Machinery Total £ £ 71,350 101,350 - -	Plant & Machinery Total £ £ 71,350 101,350 - -
		30,000		71,350 101,350
		29,999 -		56,974 83,379 2,875 3,594
		29,999		59,849 86,973
		1		11,501 11,502
		1		14,376 14,377
				2022 2021 £ £ 162,045 151,718
				162,045 151,718
				2022 2021 £ £ 1,959 2,504 3,244 2,494
				5,203 4,998
			Resources Closing Expended Balance £ £ (72,729) 180,715 - -
	175,762 77,682		(72,729) 180,715

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