2023-01-31-accounts - Rol Ministries International

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ROL MINISTRIES INTERNATIONAL

Charity No. 1147164

Trustee's Report and Unaudited Accounts

31 January 2023

ROL MINISTRIES INTERNATIONAL Contents

	Pages
Trustee's Annual Report	2
Independent Examiner's Report	3
Statement of Financial Activities	4
Balance Sheet	5
Statement of Cash flows	6 to 12
Notes to the Accounts	13
Detailed Statement of Financial Activities	14 to 15

Page 1

ROL MINISTRIES INTERNATIONAL Trustees Annual Report

The trustee presents their report with the unaudited financial statements of the charity for the year ended 31 January 2023.

REFERENCE AND ADMINISTRATIVE DETAILS

Charity No. 1147164

Principal Office

Moses Olurin Mary Sotomi

Trustee

The following trustee served during the year:

M.I. OLURIN

Accountants

Julius and Julius and Associates LLP 70 Clapton Square London E5 8HW

OBJECTIVES AND ACTIVITIES

HOLDING CHRISTIAN SERVICES IN THE COMMUNITY TO PROMOTE THE CHRISTIAN FAITH.

The trustee is responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed. The Trustee is also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.

Signed

M.I. OLURIN Trustee 31 January 2023

Page 2

ROL MINISTRIES INTERNATIONAL Independent Examiners Report

Independent Examiner's Report to the trustee of ROL MINISTRIES INTERNATIONAL

I report to the trustees on my examination of the financial statements of ROL MINISTRIES INTERNATIONAL for the year ended 31 January 2023.

Responsibilities and basis of report

As the charity's trustee you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 ('the Act').

I report in respect of my examination of the charity's financial statements 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

I have completed my examination. I can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

the accounting records were not kept in respect of the charity as required by section 130 of the Act; or
the financial statements do not accord with those records; or
the financial statements do not comply with the applicable requirements concerning the form and content of financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements give a 'true and fair' view which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

Julius and Julius and Associates LLP 70 Clapton Square London

E5 8HW 31 January 2023

Page 3

ROL MINISTRIES INTERNATIONAL Statement of Financial Activities

for the year ended 31 January 2023

Unrestricted funds	Total funds	Total funds
2023	2023	2022
£	£	£

67,550	67,550	45,900
-	-	(8,722)
-	-	22,204
67,550	67,550	59,382

7,715	7,715	-
61,817	61,817	60,201
69,532	69,532	60,201
-	-	-
(1,982)	(1,982)	(819)
-	-	-
(1,982)	(1,982)	(819)

(1,982)	(1,982)	(819)

(1,851)	(1,851)	(1,032)
(3,833)	(3,833)	(1,851)

Page 4

ROL MINISTRIES INTERNATIONAL Balance Sheet

at 31 January 2023

Charity No. 1147164 Fixed assets Tangible assets 11 Current assets Cash at bank and in hand Creditors:Amount falling due within one year 12 Net current liabilities Total assets less current liabilities Net liabilities excluding pension asset or liability Total net liabilities The funds of the charity Restricted funds 13 Unrestricted funds 13 General funds Reserves 13 Total funds	2023 £ - - - - (3,833) (3,833) (3,833) (3,833) (3,833) (3,833) (3,833) (3,833)	2022 £ 138
		138 532
		532 (2,521)
		(1,989) (1,851)
		(1,851)
		(1,851)
		(1,851)
		(1,851)
		(1,851)

Approved by the trustees on 31 January 2023

And signed on their behalf by:

M.I. OLURIN Trustee 31 January 2023

Page 5

ROL MINISTRIES INTERNATIONAL Notes to the Accounts

for the year ended 31 January 2023

1 Accounting policies

Basis of preparation

The financial statements have been prepared in accordance with Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic if Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.

Change in basis of accounting or to previous accounts

There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.

Fund accounting

Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.
Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values.
Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.

Income

Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability.
Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA.
Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income.
Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material.

Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets

Page 6

ROL MINISTRIES INTERNATIONAL Notes to the Accounts

Expenditure

Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which it relates.
Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs.
Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.
Other expenditure These are support costs not allocated to a particular activity.

Taxation

The charity is exempt from tax on its charitable activities.

Freehold investment property

Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise.

Stocks

Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.

Trade and other debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.

Trade and other creditors

Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Page 7

ROL MINISTRIES INTERNATIONAL Notes to the Accounts

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period.

Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred.

All exchange differences are are taken into account in arriving at net income/expenditure.

Leased assets

Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.

Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases.

Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs.

Assets held under finance leases are depreciated in the same way as owned assets.

Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.

Pension costs

The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the charity pays fixed contributions into a separate entity. Once the contributions have been paid the charity has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the charity in independently administered funds.

Receipt of donated goods, facilities and services

All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.

Page 8

ROL MINISTRIES INTERNATIONAL

Notes to the Accounts

2 Statement of Financial Activities - prior year

2 Statement of Financial Activities - prior year
Income and endowments from: Donations and legacies Other Total Expenditure on: Charitable activities Other Total Net income Net income before other gains/(losses) Other gains and losses: Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward 3 Income from donations and legacies Offerings Tithes Pledges Donations 4 Income from charitable activities Homeless activities Outreach evangelism	Unrestricted £ 21,627 16,133 14,890 14,900 67,550	Unrestricted funds 2022 £ 45,900 22,204 68,104 8,722 60,201 68,923 (819) (819) (819) (1,031) (1,850) Total 2023 £ 21,627 16,133 14,890 14,900 67,550 Total 2023 £ - - -	Total funds 2022 £ 45,900 22,204
			68,104 8,722 60,201
			68,923
			(819)
			(819)
			(819) (1,031)
			(1,850)
			Total 2022 £ 11,274 24,316 7,437 2,873
			45,900
			Total 2022 £ (3,767) (4,955)
			(8,722)

Page 9

ROL MINISTRIES INTERNATIONAL

Notes to the Accounts

5 Other income

5 Other income
JR Grants 6 Expenditure on charitable activities Expenditure on charitable activities Governance costs 7 Other expenditure Employee costs Motor and travel costs Premises costs Amortisation, depreciation, impairment, profit/loss on disposal of fixed assets General administrative costs Legal and professional costs 8 Net expenditure before transfers This is stated after charging: Depreciation of owned fixed assets 9 Trustee remuneration and expenses The nature of the reimbursed expenses Salary	Unrestricted £ 2,335 5,380 7,715 Unrestricted £ 12,496 1,740 43,594 137 2,650 1,200 61,817 2023 £ 137 2023 Number	Total 2023 £ - -	Total 2022 £ 22,204
			22,204

		Total 2023 £ 2,335 5,380 7,715 Total 2023 £ 12,496 1,740 43,594 137 2,650 1,200 61,817	Total 2022 £ - -
			-
			Total 2022 £ 12,065 1,916 34,538 137 10,345 1,200
			60,201
			2022 £ 137 2022 Number

Page 10

ROL MINISTRIES INTERNATIONAL Notes to the Accounts

of £60,000.	2023 9,600 18 9,618	TFA 4 £ 1,374 1,374 1,237 137 1,374 - 137	2022 9,600 109
			9,709
			Total £ 1,374
TFA 2	TFA 3
£ - - - - - - -	£ - - - - - - - 2023 £ 95 3,738
			1,374
			1,237 137
			1,374
			-
			137
			2022 £ - 2,520
	-		1
At 1 February 2022 (1,851) (1,851)	3,833 Incoming resources (including other gains/losses ) £ 67,550 67,550	Resources expended £ (69,532) (69,532)	2,521
			At 31 January 2023 £ (3,833)
			(3,833)

Page 11

ROL MINISTRIES INTERNATIONAL Notes to the Accounts

14 Analysis of net assets between funds

14 Analysis of net assets between funds
Net current assets 15 Reconciliation of net debt Cash and cash equivalents Bank overdrafts Net debt	At 1 February 2022 £	Unrestricted funds £ (3,833) (3,833) Cash flows £	Total £ (3,833)
			(3,833)
			At 31 January 2023 £
	532	(532)	-
	-	(95)	(95)
	532 532	(627) (627)	(95)
			(95)

Page 12

ROL MINISTRIES INTERNATIONAL Statement of Cash flows

for the year ended 31 January 2023

Cash flows from operating activities Net expenditure per Statement of Financial Activities Adjustments for: Depreciation of property, plant and equipment Increase in trade and other payables Net cash used in operating activities Net cash from investing activities Net cash from financing activities Net decrease in cash and cash equivalents Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year	2023 £ (1,982) 137 1,217 (628) - - (628) 532 (96)	2022 £ (819) 137 646
		(22,240)
		22,204

		-

		(36)
		568
		532

Components of cash and cash equivalents
Cash and bank balances	-	532
Bank overdrafts	(95)	-

	(95)	532

Page 13

ROL MINISTRIES INTERNATIONAL Detailed Statement of Financial Activities

for the year ended 31 January 2023

Income and endowments from: Donations and legacies Offerings Tithes Pledges Donations Charitable activities Homeless activities Outreach evangelism Other JR Grants Total income and endowments Expenditure on: Charitable activities Total of expenditure on charitable activities Employee costs Salaries/wages Employer's NIC Volunteers Motor and travel costs Travel and subsistence Premises costs Rent Rates Light, heat and power Premises cleaning Premises repairs and maintenance	Unrestricted funds 2023 £ 21,627 16,133 14,890 14,900 67,550 - - - - - 67,550 2,335 5,380 7,715 7,715 9,600 18 2,878 12,496 1,740 1,740 35,000 641 1,270 194 6,489 43,594	Total funds 2023 £ 21,627 16,133 14,890 14,900 67,550 - - - - - 67,550 2,335 5,380 7,715 7,715 9,600 18 2,878 12,496 1,740 1,740 35,000 641 1,270 194 6,489 43,594	Total funds 2022 £ 11,274 24,316 7,437 2,873
			45,900
			(3,767) (4,955)
			(8,722)
			22,204
			22,204
			59,382 - -
			-
			- 9,600 109 2,356
			12,065
			1,916
			1,916
			26,600 - 2,162 2,000 3,776
			34,538

Page 14

ROL MINISTRIES INTERNATIONAL Detailed Statement of Financial Activities

General administrative costs, including depreciation and amortisation Information and publications Software, IT support and related costs Stationery and printing Instrumentalist Telephone, fax and broadband Legal and professional costs Accountancy and bookkeeping Total of expenditure of other costs Total expenditure Net gains on investments Net expenditure Net expenditure before other gains/(losses) Other Gains Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward	137 - - - 2,650 - 2,787 1,200 1,200 61,817 69,532 - (1,982) (1,982) - (1,982) (1,851) (3,833)	137 - - - 2,650 - 2,787 1,200 1,200 61,817 69,532 - (1,982) (1,982) - (1,982) (1,851) (3,833)	137 1,350 1,025 1,625 4,585 1,760
			10,482
			1,200
			1,200

			60,201
			60,201 -
			(819)
			(819) -
			(819)
			(1,032)
			(1,851)

Page 15