CHARirY (OMM Trustees. Annual Report for the period PeTioJ start date PericMJ end date Fr¢>m To Section A Reference and administration details SIMNEf OiTtREACH MINISTrIES Other names charity is kn¢)wn by SIMNEf OUTREACH" HOLY TrINrrf TABERNACLE Registered charity number (rf any) 1147641 Charity's principal address SCHOOL HOUSE SELBORNE ROAD CROYDON Postcode CRO 5JQ Names of the charity trustees who manage the charity Trustee nan Office lrfanyl Dates acted rf n¢X forvtho CHAIRPERSON Name of pen lor body) entitled inttrustee ifan APOSTLE SIMON A. IDOWU PASTOR MOSHOOD AMOS AMOSU 05105r2012 TRUSTEE BOARD HUMAN RESOURCES MANGER 01106r2014 TRUSTEE BOARD PASTOR ADEBAYO GEORGE-LAWAL Rev. JONATHAN O. OLALEYE SECRETARY 01106r2014 TRUSTEE BOARD 1310812018 TRUSTEE BOARD 10 12 13 14 15 16 17 18 19 20 Names of the trustees for the charity. rf any. (for example. any custodian trustees) TAR March 2012
Name Dates acted rf not for whole ear Names and addresses of advisers (Optional inf0mtion) e of adviser Name Address Name of Chief executive or names of senior staff members (Optional information) Section B Structure, Description of the charitys trusts TRUST DEED overnance and mana ement Type of govemiro document How the charity is constituted DECLARATION OF TRUST MADE On the 3rd day of October 2012 Apart from the first tnistees, every Twstee must be appointed [for a temi of Three (3) yearsl by a resolubon of the Trustees passed at a special meeting called under dause 15 of the deed. Additional governance issues {Optional inforrnation) You may choose to inciude additional informatÈon. where relevant, about" Trustee selection methods policies and procedures adopted for the induction and training of trustees., the charity's organisattonal structure and any wrder network with which the charity relationship with any related parties., trustees. consideration of major risks and the system and procedures to manage them. THIS CHARITY HAS CONFLICT OF IbtrEREST POLICY IN PLACE TAR qaTth 2012
Section C Ob"ectives and activities OUR OBJECTS ARE: 1 Yo advance the Christian rdigion in London arKI other pla$. within England and Wates. arjd overseas, in accordan wth the statements of belief appearing in the sthedule and Christian dortrines, for the benefft of the public. Summary ofthe objects of the charity set out in its goveming document 2 advan education in such vmys and in such parts of the United Kingdom or [1d as the trustees from time to time may think fft.. 3 Yhe prevention or relief of poverty mainly in London and other places, nationally or overseas by providing: grants, ttems and services to individuals and supporting other Chariti'es or organisations (local, national and overseas) Working to prevent or relvave povety.. All our O "ects are tharttable ACTMTIES UNDERTAKEN Our trustees have had regard to the guidance issued by the Chanty Commission on wblic benefft. All our Obie(ts are charitable and the following activrties in fjjrthering them are for public benefft: We undertook our usual veklY and monthly churchlministry activities such as fellowshiplmeeb"ngs, preaching, and bible studies, prayers and counselling, Evangelism and Radio Ministy. The followsng activities were also undertaken. Summary ofthe main activities undertaken for the public benefit in relation to these objects (include within this section the statutory declaration that trustees have had regard to the guidance issued by the Charity Commission on public benefft) SEMINAR THEME: Total Freedom from Spiritual Bondage (John 8.6) DATE: 1st and 2nd of AprÉl 2021. VENUE: ZOOM MEETING. YEARLY CONVENTION THEME: Godly Family (Colossians 3=1&25) DATE.. 18th to 20th & 22nd of August 2021. VENUE: ZOOM / Holy Trinity Tthmade. CONFERENCE THEME: Cruufying the Flesh {Galatians 5.19-23) DATE: 11th of December 2021. VENUE." ZOOM l Ashbumham Place, East Sussex. Battle TN33 9NF. CONFERENCE THEME: Crossing the Red Sea (Exodus 14.8-18) DATE: 27th - 31st Dember 2021. VENUE: ZOOM I Ho Trin Tabemade. TAR March 2012
Additional details of objectives and activibes {Optional informalion) Grdnt Policy & Procedure The Trustees must the ncome and other revenues ofthe organisation in promottng the Objects in the goveming dQUment (trust Deed). This will include the purpose of actualty carrying out the Objects as in paragraphs 1, 3.2 and 3.3 ofthe Trust Deed. You may choose to indude fvrther statements, where relevant, about: We Uj[r have limited funds and (an onty make grants in the fonn of small financial assistan to applicants in genuine need and not to those who have delitEratety made themsefves destitute. or those who have not explOd other available SOUT like their entittement to statelsocral benefits or 2fft)rdable commercial loans. conSeratIon will be gtven to indÉviduals who are genuinely experienung financial hardship or SK* because they are poor or at risk of becoming kK)or. due to: bereavement of the mwn bread winner in the famity, with very low income, due t() ilkheallh. and people who are unemployed and people that do not have recourse to publ fvnds. Therefore, each application will be Means-test8Y and assessed on their indtvKlual meriLs. policy on grantmaknng", policy programme related investment" contribution made by volunteers. DependirtrJ on availabflty of funds. sm1 financial grant may also be given to support other charilable organtsabons undertaking simiLgrobJ'ect and activi. or ntral communtÈres faung crisis or nalural disaster. No trustee or connected person to a trustee may use their posthon to infiuen or obtain any private finanual or material benefit from this charity except they ordinarity quality by satlsfying the crtteria mentioned above. Such twstee or their onnected person MUST NOT be inVoed in the decision making for their grant applKzbon. Please see the cOnfl-0t4ntest Polw. TAR 2012
Section D Achievements and performance Awsted aTha sUped Fwlte tovords empkJymenL SuptM)rted honkn and less people by provKling food and materials for them. Summary of the main achievements of the charity during the year Provided edUCatnal training, maten.ats arKI support for youngsters whh helped them gan placement into uniwsity education. Restored families through o)unselling arKI marriage enrichment programmes. Relieved poverty for g)rre Feople through proviston of ckthing, toiletries for homeless peo. OrganEed monlhly programffE {Hours of Possibilities) in Luton Town- providing payers and encouragerrEnL Organtsed o)nferen and serrNnars fr)r rwite in London at Ashbumham. Engaged in Missionary vnrks in Africa and America. TAR March 2012
Section E Financial review TRUSTEES AND OTHER RELATED PARTIES No payments were made to any trustee or any person connected with them. No mrial transa[kn tc)k P[ wtih a trustee or any person cannected with them. Brief statement of the Charity's policy on reserves GRAfrrrs There were no Grants r1V& during the year. GIFf AID Total Grft Aid recerved for ear 2020 amourrted to £7.056.00 The followng are exiracts from Annual A(xount for the year ending 31st March 2020 TOTAL INCOMING RESOURCES £31,418 Details of any funds materially in deficit Total Resour experxled i>n Managing and Administering the CharFty £ 30.210 NET INCOMINGIIOUTGOING) RESOURCES Total fvnds brought forvrard Total funds canied foThvard Further financial review details (Optional information) You may Ghoose to include The main Sour of the chanty's in([fyE are donations and gifts from additional infomiation. vthere supw)rters and embers. relevant about- In addrtion to any other power5 they have, the Trustees may exercise any of the the charity's principal folk)wing PM)wers in order to fvrther the objects (but not for any other purposel". sources of funds (including any fundraising)-, how expenditure has supported the key objectives of the charty; investment policy and objectives induding any ethical investment policy adopted. £1.208 £406 £1.614 (i) to raise fvnds. In exercisir#J this rN)wer. the Trustees must not undertake any substantial permanent trading acbvity and must comply wtth any relevant statutory reguL4tsortS: {ii} to buy. take on lease or in exchange. hi C otherwise acquire properly and to maintain and equip rt for use" (iii) to sell. tease or otheThvise dispose of all or any part of the propety belonging to the Charity. In exerusing this power, the Trustees must comply as appropriate with sections 36 and 37 of the Charthes Act 1993. as amended by the Charittes Act 21JO6.' {iv} to torrow nK)ney and to charge the whole or any part of the proFety belonging to the Charity as security for repayment of the money borrowed. The Twstees must comply as appropriate wÈth sections 38 and 39 of the Charities Act 1993. as amend&l by the Chatities N£t 2006. rf they wish to mortgage land owned by the Charity. {v) to ccpoperate vAth other chaTibe5. voluntary bodies and Sttory authorrtses and to exchange information and adv[ wÈlh them: {vi) to establish or supwrt any charitable trusts, assochgtions or institutions forn1 for any of the charttable purposes included in the objects,. (vii) to acqui. merge wtth or enter into any partnership orjoint venture arrangent Wtth any ¢Xher Charity fomRd for any of the objects," Iviii) to (yEate suth advisory cornmtttees as the Trustees think fit (ix) to eM0Y and remuner* such slaff as are necessary for carrying out the Wofk of the Chartty: (xl to do any other kwfijl thing that is neceswy or desirable for the achievement of the ob"ects. TAR March 2012
Section F
Other optional information
AccouimNG POUCIES
The accounts have bn prepared in accordan with appfK2ble ac£ounting standards and fojlow the
recommendattons in StaterFt of Recommended Practi". for Charibes (SORP) issued in Ocb)ber. 2000.
Voluntary income is rewed by w Ofd(ThIi th gifts. tt is shown in fvll in the StaterrEnt of Financial Activtties
when recewed. Gifts in kind aTE valued at their estima1 value to the dmity and are included under the appropriate
headings.
Irrtangibie coMe is vatu&J aTKI indixled rn inrrE to the extent th it represeTts gtxmts orsefvrEs which woukl
othenvise be pur¢hase(L it is diffitt or rtot pK}ssie to vahE the goods orservw such as votunteertime.
the accounts do not indude them.
Grants, indudirKJ grants forthe purchase of ft
SIMNET OUTREACH MINISTRIES
ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH, 2022
SIMNET OUTREACH MINISTRIES
| Contents | Page | |
|---|---|---|
| Legal and administrative information | 3 | |
| Report of the Trustees | 4 | |
| Report of the independent examiner | 6 | |
| Statement of financial activities | 7 | |
| Balance sheet | 8 | |
| Notes forming part of the financial statements | 9 | & 10 |
2
SIMNET OUTREACH MINISTRIES CHARITY NUMBER : 1147641
Legal & Administrative Information
| WORKING NAME: | :HOLY TRINITY TABERNACLE | :HOLY TRINITY TABERNACLE |
|---|---|---|
| :SIMNET OUTREACH MINISTRIES | ||
| FINANCIAL YEAR | :1st April, 2020 - 31st March, 2021 | |
| DIRECTORS/MANAGEMENT COMMITTEE | ||
| AT 31/03/2020 | Apostle Simon Adeyinka Idowu | :Chair |
| Mr Adedayo George-Lawal | :Secretary | |
| Mr Moshood Amos Amosu | :Human Resources | |
| Dr (Rev) Jonathan Olaleye | :Trustee | |
| Address: | Simnet Outreach Ministries | |
| School House | ||
| Selborne Road | ||
| Croydon | ||
| CR0 5JQ | ||
| Independent Examiner | ||
| Charterbrook Accountants | ||
| EasyHub Croydon | ||
| Suite 3.12 | ||
| 22 Addiscombe Road | ||
| Croydon | ||
| CR0 5PE | ||
| Bankers | ||
| National Westminster Bank Plc | ||
| Stoke Newington Branch | ||
| 198 Stoke Newington Branch | ||
| London | ||
| N16 7GA |
3
SIMNET OUTREACH MINISTRIES
Report of the Trustees for the year ended 31st 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 pages 9 to 10 and comply with the charity's trust deed and applicable law.
OBJECTS
-
The advancement of the Christian religion and education
-
Welfare Support to bereaved families
-
The provision of education & support for young people whose parents suffer from mental illness.
-
Evangelism (Radio Ministry)
-
Mission Meal Outreach for the homeless.
-
Workshops and Seminars for Church Leaders.
Legal Status, Governance & Management
Board meetings are bi-monthly and ensure the purpose of the organisation is implemented through effective planning resul the annual work plan, associated resources to deliver core and projects, and support to our voluteers, who are the back bone service delivery.
Funding
Delivery of our work programme and related costs are archieved through a mixture of offering and tithes, as well as donations from m
Public Benefit
The Board have due regard to the guidance on public benefit in planning, resourcing and delivering its activities.
Risk Management
The Board ensures there is a risk management policy which reflects the range of risk to which the organisation may be exposed and ass mitigating systems are in place.
4
Irmhcrs
SIMNET OUTREACH MINISTRIES
Report of the Independent Examiner
We have examined the financial statements on pages 7 to 8 which have been prepared under the accounting policies set out on page 9.
Respective responsibilities of trustees and examiner
As the charity's trustees you are responsible for the preparation of the accounts; you consider that the audit requirement of section of the Charities Act 2006 does not apply. It is our responsibility to state, on the basis of procedures specified in the General Directions given by the Charity Commissioners Act, whether particular matters have come to my attention.
Basis of opinion
Our examination was carried out in accordance with the 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 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 we do not express an audit opinion on the view given by the accounts.
Opinion
In connection with our examination, no matter has come to our attention:
-
(1) which gives us reasonable cause to believe that in any material respect the requirements
-
a) to keep accounting records in accordance with section 41 of the Act; and
-
b) to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the Act
has not been met; or
- (2) to which, in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Charterbrook Accountants
Date: 7-Sep-22
EasyHub Croydon Suite 3.12 22 Addiscombe Road Croydon CR0 5PE
6
SIMNET OUTREACH MINISTRIES
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31ST MARCH, 2022
| NotRestricted | Unrestricted | TOTAL | TOTAL | ||
|---|---|---|---|---|---|
| Funds | Funds | 2022 | 2021 | ||
| £ | £ | £ | £ | ||
| Incoming resources: | |||||
| Grant | - | - | - | 16,588.00 | |
| Other Income | - | 2,745.00 | 2,745.00 | 304.00 | |
| Tithes & Offering | - | 16,448.00 | 16,448.00 | 15,580.00 | |
| Gift Aid | - | 7,056.00 | 7,056.00 | - | |
| Donations | 5,169.00 | 5,169.00 | 13,026.00 | ||
| - | 31,418.00 | 31,418.00 | 45,498.00 | ||
| Less: | |||||
| Resources Expended | |||||
| Evangelism & Honorarium | 6,066.00 | 6,066.00 | 15,060.00 | ||
| Rent | 4,515.00 | 4,515.00 | 4,780.00 | ||
| Salaries | 54.00 | 54.00 | 22,817.00 | ||
| Insurance | - | 1,885.00 | 1,885.00 | 1,237.00 | |
| Welfare Support & Mission Meal | - | 2,677.00 | 2,677.00 | 12,710.00 | |
| Printing & Publicity | - | 1,541.00 | 1,541.00 | 2,420.00 | |
| Motor Running Expenses | - | 1,869.00 | 1,869.00 | 579.00 | |
| Missionary Work | - | - | 6,092.00 | ||
| Volunteer Expenses | - | 190.00 | 190.00 | 1,128.00 | |
| Telephone & Internet | - | 1,711.00 | 1,711.00 | 1,002.00 | |
| Independent Examiners fee | - | 400.00 | 400.00 | 400.00 | |
| Conferences/Seminars | - | 4,079.00 | 4,079.00 | 1,418.00 | |
| Equipment & Materials | - | 1,778.00 | 1,778.00 | 1,584.00 | |
| Postage & Stationery | - | 50.00 | 50.00 | 347.00 | |
| Subscription, Training & | educational Support | - | 3,004.00 | 3,004.00 | 1,907.00 |
| Depreciation | 1(f) & 3 | - | 391.00 | 391.00 | 391.00 |
| TOTAL EXPENSES | 30,210.00 | 30,210.00 | 73,872.00 | ||
| Net Incoming/(Outgoing) | - | 1,208.00 | 1,208.00 | (28,374.00) | |
| Balances b/f | 406.00 | 406.00 | 27,968.00 | ||
| Balances c/f | 1,614.00 | 1,614.00 | 406.00 |
7
SIMNET OUTREACH MINISTRIES
BALANCE SHEET AS AT 31ST MARCH, 2022
| Notes Fixed assets Tangible assets 1(f)& 3 Current assets Debtors & Prepayment 2 Cash at Bank and in hand Creditors: amount falling due within one year 4 Net current assets / Current liabilties Total assets less current liabilites Represented By: Restricted Funds Unrestricted Funds 1B Designated Funds Total Charity Funds |
2022 2021 £ £ £ £ 4,700.00 5,091.00 - - 1,614.00 406.00 1,614.00 406.00 (4,700.00) (5,091.00) (3,086.00) (4,685.00) 1,614.00 406.00 - - 1,614.00 406.00 1,614.00 406.00 |
2022 2021 £ £ £ £ 4,700.00 5,091.00 - - 1,614.00 406.00 1,614.00 406.00 (4,700.00) (5,091.00) (3,086.00) (4,685.00) 1,614.00 406.00 - - 1,614.00 406.00 1,614.00 406.00 |
|---|---|---|
| 406.00 | ||
| - 406.00 |
||
| 406.00 |
We certify that the annexed accounts are in accaordance with the records, information and explanations supplied by
and have our approval.
Signed by Order of the Board
APOSTLE SIMON ADEYINKA IDOWU
Date: 7-Sep-22
8
u% TrLl5ree%
SIMNET OUTREACH MINISTRIES
Notes forming part of the financial statements for the year ended 31st March, 2022
1. Accounting policies
(a) Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective March 2000). In preparing the financial statements the charity follows best practice as laid down in the Statement of Recommended Practice "Accounting and Reporting by Charities" (SORP 2005) effective October 2000.
(b) Fund Accounting
Unrestricted funds are funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the Charity and which have not been designated for other purpose. Restricted funds are funds which have been given for particular purposes and projects.
( c ) Incoming resources
All incoming resources are included in the financial statements when the Charity is legally entitled to the income and the income can be quantified with reasonable accuracy. Pledges are only recognised when the amount is certain.
(d) Resources expended
Expenditure is accounted for on accrual basis and classified under the heading appropriate to the nature of the expenditure.
(f) Tangible fixed assets and depreciation
Tangible fixed assets are depreciated on a straight-line basis over their estimated useful lives as follows:
| Equipments | 25% |
|---|---|
| Furniture, Fixtures & Fittings | 25% |
| Motor Vehicle | 25% |
2. Current Assets
| Debtors and Prepayments Cash at Bank and in hand |
2022 £ - 1,614.00 1,614.00 |
2021 £ - 406.00 |
|---|---|---|
| 406.00 |
9
SIMNET OUTREACH MINISTRIES
Notes forming part of the financial statements (cont'd) for the year ended 31st March, 2022
3. Tangible fixed assets
| Cost At 01 April, 2021 Additions Disposals At 31st March, 2022 Depreciation At 01 April, 2021 Charge for the year On disposals At 31st March, 2022 Net book value At 31st March, 2022 At 31st March, 2021 |
Furniture & Motor Total Equipments Fittings Vehicle £ £ £ £ 15,632.00 475.00 8,100.00 24,207.00 - - - - 0 0 0 0 |
|---|---|
| 15,632.00 475.00 8,100.00 24,207.00 |
|
| 10,541 475 8,100 19,116 391 0 0 391 0 0 0 |
|
| 10,932 475 8,100 19,507 |
|
| 4,700 0 0 4,700 |
|
| 5,091 0 0 5,091 |
None of these assets were acquired under the terms of hire purchase.
4. CREDITORS: Amount falling due within one year
| 4. CREDITORS: Amount falling due within one year | |
|---|---|
| Cost of Charitable Activities Independent Examiners fee Other Creditors |
2022 2021 400 400 4,300 4,691 |
| 4,700 5,091 |
10
SIMNET OUTREACH MINISTRIES
ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH, 2022
SIMNET OUTREACH MINISTRIES
| Contents | Page | |
|---|---|---|
| Legal and administrative information | 3 | |
| Report of the Trustees | 4 | |
| Report of the independent examiner | 6 | |
| Statement of financial activities | 7 | |
| Balance sheet | 8 | |
| Notes forming part of the financial statements | 9 | & 10 |
2
SIMNET OUTREACH MINISTRIES CHARITY NUMBER : 1147641
Legal & Administrative Information
| WORKING NAME: | :HOLY TRINITY TABERNACLE | :HOLY TRINITY TABERNACLE |
|---|---|---|
| :SIMNET OUTREACH MINISTRIES | ||
| FINANCIAL YEAR | :1st April, 2020 - 31st March, 2021 | |
| DIRECTORS/MANAGEMENT COMMITTEE | ||
| AT 31/03/2020 | Apostle Simon Adeyinka Idowu | :Chair |
| Mr Adedayo George-Lawal | :Secretary | |
| Mr Moshood Amos Amosu | :Human Resources | |
| Dr (Rev) Jonathan Olaleye | :Trustee | |
| Address: | Simnet Outreach Ministries | |
| School House | ||
| Selborne Road | ||
| Croydon | ||
| CR0 5JQ | ||
| Independent Examiner | ||
| Charterbrook Accountants | ||
| EasyHub Croydon | ||
| Suite 3.12 | ||
| 22 Addiscombe Road | ||
| Croydon | ||
| CR0 5PE | ||
| Bankers | ||
| National Westminster Bank Plc | ||
| Stoke Newington Branch | ||
| 198 Stoke Newington Branch | ||
| London | ||
| N16 7GA |
3
SIMNET OUTREACH MINISTRIES
Report of the Trustees for the year ended 31st 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 pages 9 to 10 and comply with the charity's trust deed and applicable law.
OBJECTS
-
The advancement of the Christian religion and education
-
Welfare Support to bereaved families
-
The provision of education & support for young people whose parents suffer from mental illness.
-
Evangelism (Radio Ministry)
-
Mission Meal Outreach for the homeless.
-
Workshops and Seminars for Church Leaders.
Legal Status, Governance & Management
Board meetings are bi-monthly and ensure the purpose of the organisation is implemented through effective planning resul the annual work plan, associated resources to deliver core and projects, and support to our voluteers, who are the back bone service delivery.
Funding
Delivery of our work programme and related costs are archieved through a mixture of offering and tithes, as well as donations from m
Public Benefit
The Board have due regard to the guidance on public benefit in planning, resourcing and delivering its activities.
Risk Management
The Board ensures there is a risk management policy which reflects the range of risk to which the organisation may be exposed and ass mitigating systems are in place.
4
Irmhcrs
SIMNET OUTREACH MINISTRIES
Report of the Independent Examiner
We have examined the financial statements on pages 7 to 8 which have been prepared under the accounting policies set out on page 9.
Respective responsibilities of trustees and examiner
As the charity's trustees you are responsible for the preparation of the accounts; you consider that the audit requirement of section of the Charities Act 2006 does not apply. It is our responsibility to state, on the basis of procedures specified in the General Directions given by the Charity Commissioners Act, whether particular matters have come to my attention.
Basis of opinion
Our examination was carried out in accordance with the 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 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 we do not express an audit opinion on the view given by the accounts.
Opinion
In connection with our examination, no matter has come to our attention:
-
(1) which gives us reasonable cause to believe that in any material respect the requirements
-
a) to keep accounting records in accordance with section 41 of the Act; and
-
b) to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the Act
has not been met; or
- (2) to which, in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Charterbrook Accountants
Date: 7-Sep-22
EasyHub Croydon Suite 3.12 22 Addiscombe Road Croydon CR0 5PE
6
SIMNET OUTREACH MINISTRIES
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31ST MARCH, 2022
| NotRestricted | Unrestricted | TOTAL | TOTAL | ||
|---|---|---|---|---|---|
| Funds | Funds | 2022 | 2021 | ||
| £ | £ | £ | £ | ||
| Incoming resources: | |||||
| Grant | - | - | - | 16,588.00 | |
| Other Income | - | 2,745.00 | 2,745.00 | 304.00 | |
| Tithes & Offering | - | 16,448.00 | 16,448.00 | 15,580.00 | |
| Gift Aid | - | 7,056.00 | 7,056.00 | - | |
| Donations | 5,169.00 | 5,169.00 | 13,026.00 | ||
| - | 31,418.00 | 31,418.00 | 45,498.00 | ||
| Less: | |||||
| Resources Expended | |||||
| Evangelism & Honorarium | 6,066.00 | 6,066.00 | 15,060.00 | ||
| Rent | 4,515.00 | 4,515.00 | 4,780.00 | ||
| Salaries | 54.00 | 54.00 | 22,817.00 | ||
| Insurance | - | 1,885.00 | 1,885.00 | 1,237.00 | |
| Welfare Support & Mission Meal | - | 2,677.00 | 2,677.00 | 12,710.00 | |
| Printing & Publicity | - | 1,541.00 | 1,541.00 | 2,420.00 | |
| Motor Running Expenses | - | 1,869.00 | 1,869.00 | 579.00 | |
| Missionary Work | - | - | 6,092.00 | ||
| Volunteer Expenses | - | 190.00 | 190.00 | 1,128.00 | |
| Telephone & Internet | - | 1,711.00 | 1,711.00 | 1,002.00 | |
| Independent Examiners fee | - | 400.00 | 400.00 | 400.00 | |
| Conferences/Seminars | - | 4,079.00 | 4,079.00 | 1,418.00 | |
| Equipment & Materials | - | 1,778.00 | 1,778.00 | 1,584.00 | |
| Postage & Stationery | - | 50.00 | 50.00 | 347.00 | |
| Subscription, Training & | educational Support | - | 3,004.00 | 3,004.00 | 1,907.00 |
| Depreciation | 1(f) & 3 | - | 391.00 | 391.00 | 391.00 |
| TOTAL EXPENSES | 30,210.00 | 30,210.00 | 73,872.00 | ||
| Net Incoming/(Outgoing) | - | 1,208.00 | 1,208.00 | (28,374.00) | |
| Balances b/f | 406.00 | 406.00 | 27,968.00 | ||
| Balances c/f | 1,614.00 | 1,614.00 | 406.00 |
7
SIMNET OUTREACH MINISTRIES
BALANCE SHEET AS AT 31ST MARCH, 2022
| Notes Fixed assets Tangible assets 1(f)& 3 Current assets Debtors & Prepayment 2 Cash at Bank and in hand Creditors: amount falling due within one year 4 Net current assets / Current liabilties Total assets less current liabilites Represented By: Restricted Funds Unrestricted Funds 1B Designated Funds Total Charity Funds |
2022 2021 £ £ £ £ 4,700.00 5,091.00 - - 1,614.00 406.00 1,614.00 406.00 (4,700.00) (5,091.00) (3,086.00) (4,685.00) 1,614.00 406.00 - - 1,614.00 406.00 1,614.00 406.00 |
2022 2021 £ £ £ £ 4,700.00 5,091.00 - - 1,614.00 406.00 1,614.00 406.00 (4,700.00) (5,091.00) (3,086.00) (4,685.00) 1,614.00 406.00 - - 1,614.00 406.00 1,614.00 406.00 |
|---|---|---|
| 406.00 | ||
| - 406.00 |
||
| 406.00 |
We certify that the annexed accounts are in accaordance with the records, information and explanations supplied by
and have our approval.
Signed by Order of the Board
APOSTLE SIMON ADEYINKA IDOWU
Date: 7-Sep-22
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SIMNET OUTREACH MINISTRIES
Notes forming part of the financial statements for the year ended 31st March, 2022
1. Accounting policies
(a) Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective March 2000). In preparing the financial statements the charity follows best practice as laid down in the Statement of Recommended Practice "Accounting and Reporting by Charities" (SORP 2005) effective October 2000.
(b) Fund Accounting
Unrestricted funds are funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the Charity and which have not been designated for other purpose. Restricted funds are funds which have been given for particular purposes and projects.
( c ) Incoming resources
All incoming resources are included in the financial statements when the Charity is legally entitled to the income and the income can be quantified with reasonable accuracy. Pledges are only recognised when the amount is certain.
(d) Resources expended
Expenditure is accounted for on accrual basis and classified under the heading appropriate to the nature of the expenditure.
(f) Tangible fixed assets and depreciation
Tangible fixed assets are depreciated on a straight-line basis over their estimated useful lives as follows:
| Equipments | 25% |
|---|---|
| Furniture, Fixtures & Fittings | 25% |
| Motor Vehicle | 25% |
2. Current Assets
| Debtors and Prepayments Cash at Bank and in hand |
2022 £ - 1,614.00 1,614.00 |
2021 £ - 406.00 |
|---|---|---|
| 406.00 |
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SIMNET OUTREACH MINISTRIES
Notes forming part of the financial statements (cont'd) for the year ended 31st March, 2022
3. Tangible fixed assets
| Cost At 01 April, 2021 Additions Disposals At 31st March, 2022 Depreciation At 01 April, 2021 Charge for the year On disposals At 31st March, 2022 Net book value At 31st March, 2022 At 31st March, 2021 |
Furniture & Motor Total Equipments Fittings Vehicle £ £ £ £ 15,632.00 475.00 8,100.00 24,207.00 - - - - 0 0 0 0 |
|---|---|
| 15,632.00 475.00 8,100.00 24,207.00 |
|
| 10,541 475 8,100 19,116 391 0 0 391 0 0 0 |
|
| 10,932 475 8,100 19,507 |
|
| 4,700 0 0 4,700 |
|
| 5,091 0 0 5,091 |
None of these assets were acquired under the terms of hire purchase.
4. CREDITORS: Amount falling due within one year
| 4. CREDITORS: Amount falling due within one year | |
|---|---|
| Cost of Charitable Activities Independent Examiners fee Other Creditors |
2022 2021 400 400 4,300 4,691 |
| 4,700 5,091 |
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