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2023-03-31-accounts

Trustees. Annual Report for the period Petiod stsrt date Pertcwj end date 2023 From To Section A Reference and administration details Charity name SIMNET OLrrRFACH MfNISTRIES Other names charity is knovm by SIMNET OtttRF.ACH" HOLY TRINrtY TABERNACLE Registered charty number Irf any) 1147641 Charity's principal address SCHOOL HOUSE SELBORNE ROAD tnNtK)N Postcode CRO 5JQ Names of the charity trustees who manage the charity TrustÈè rwne Office Irf any) Name of person lor body) entitled inttrustee ifan ear APOSTLE SIMON A. IDOWU 05105r2012 TRUSTEE BOARD PASTOR MOSHOOD AMOS AMOSU TREASURER 0110612014 TRUSTEE BOARD PASTOR ADEBAYO GEORGE-LAWAL SECRETARY 01106r2014 TRUSTEE BOARD DR JONATHAN O. OLALEYE TRUSTEE 1310812018 TRUSTEF. BOARD 10 12 13 14 15 16 17 18 19 20 TAR Marth 2012

Names of the trustees for the charity. rf any, (for example. any custodian trustees) Name Dates acted rf not for whole ear Names and addresses of advisers (Optional inforniation) of adviser Name Address Name of chief executive or names of senior staff members (Optional inforniation) Section B Structure, overnance and mana ement Description of the charity's trusts Type of goveming dO￿Jment JRUST DEED How the charity is constituted TRUST Trustee selection methc•Js 7RUSTEES ARE APPOINTED BY BOARD OF TRUSTEES Additional governance issues (Optional inforniation) You may choose to include additional information. where relevant. about.. policies and prO￿dureS adopted for the induction and training of trustees; the charity's organisational structure and any wider network with which the charty • relationship v￿h any related Tllls CHAIUTY HAS CONFI.Icr OF INfEREST POLICE ￿ PLACE twstees, consideration of Major risks and the system and procedures to manage them. TAR March 2012

Section C Ob"ectives and activities I 'To advancc the Christian religion in IAindon and other places" within England and Wales, and overseas. in accordance with the statements of belief a￿arIng in the schedlll¢ and Christian doctrines. for the benefit of the public. Summary of the objects of the charity set out in its governing document 2 -To advance education ill such ways and tn stsch parts of the United Kingdom or the woAd as the trustees from time to time may think fit. . 3 'The prevention or relief Or￿verty mainly iti London and other pla¢e& nationally or overseas by providiniv: granty items and services to individuals and suptK)rting other charitie5 or orgallisations (lo￿1, national and overse&s) working to prevent or relieve p)vety.' All our Ob"ects are charitable Our trustees have had regard to the guidance issued by the Charity Commission on public ben¢f All our Objects are clJarAtable and the following activities in fitrtheTing them are for public benefit: We undertook our usual weekly and monthlv ¢hurchlministy activities such &s fellowshiplmeetin4o preachin& and bible studic8 prayers and counKllin ¢vangelism and radio ministy. Summary of the 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 benefrt) The following actsvities were also undertaken: I. CONFERENCE THEME: THE FUNDAMENTAL OF UNrrY IN THE CHURCII DATE: 12th To 14th January 2022. VENUE: Online Zoom and Ashburnham Place. Battle. East Sussex. TN33 9NF. THEME.. JF.EIOVAJI NISJ (rhe Lord our Banner) DATE: 18th To 24th August 2022. VENUE: Archbishop Tenison's CE High S¢h¢)oL SellKJrne Roa¢ Croydon CRO 5JQ. 3. SEMtNAR THEME: WALKING IN THE WILL OF GOD DATE: 22nd To 24th September. VENUE: Online Zoom and A5hburnham Place, Batile, East SusseK TN33 9NF. 4. REVIVAL THEME: CROSSING THE READ SEA DATF.: 29th To 3 1st De£emltt 2022. VENUE: Z(K)M ONLINE. TAR March 2012

Additional details of objectives and activities {Optional infomiation) Grant Poli¢y alld Procedu Thc TnLStees must use the income and other revenues of the organisation in promoting the Objects in the governing document (Trust Deed). This will include the purtmise of actually ca￿Ying out the Objects as in paragrdphs 1. 3.2 and 33 of the TTUSt Deed. We ¢unently have limited fimds and call ollty make grants in the fortn of small [￿anCIal 2SSiStance to 4)plicants in genuine need and not to those who have ade deliE£rately tllade themselves destitute, or those who have not explored otheT available sources like their entitlejnent to state/s￿la￿ benefits or affordable collunercial loans. Considerdtion will be givtng to individuals who are genuinely experiencing financial hardshtp or sick because they are tKx)r or at risk of tcomTng p(x)r. due to: be￿ave￿¢llt of the main bread winner in the family, with very low income, due to ill-healtF4 and people who are unemployed and people that do not recourse to the public fimds. Therefore. each application will be means-tested and a&sessed on their individual merits. You may choose to include further statements, where relevant. aboul". policy on grantmaknng., policy programme related investment; corrtribLrtion made by volunteers. Detndtng on availability of funds, smaEI financial grdnt may also be given to support other charitable organisations undettsk'ing similar object and activities. or rural communities facing crisis or naturnl al&￿er. No Trustee or connected pE￿)ll to a trustee may use their positiorE to influence or obtain any fuwicial or material knefit from this charity exctpt they ordinarily qualify by satisfving the criteria mentioned alKive. Such thistee or their connected person MJUST NOT be involTred in the decision making for their li&￿10￿. Please see the Conflict•of_Interest Polic Section D Achievements and performance Summary ofthe main achievements of the charity during the year Assisted and suprKTrrted Fwple toward5 efflplo)rynent Provided educational llEaterials and support for youngsters which helped them gain pla¢emcnt into university. Restore families through wuns¢lling and llwriage enrichment programmes. Relieved wvety for Some people through provision of clothing, toiletries for homeless people. OrgaDised conferences and s¢minaTS for people in tA)ndon at Ashburnham. Battl¢ in Fast SusseL Engaged in Missionary works in Africa and Am¢ric& TAR March 2012

Section E Financial review TRUSTEES AND OTHER RELATED PARTIES No paytllents were made to any or any person CODne¢ted with them No D]ateFial transactions took place with a In￿e¢ or any petson Conn￿(ed with Brief statement of the charity's policy on reserves There was no Grani receiva during the year. Total Gift Aid received foTyear 2020 amounted to £6,35727. The following are extracts from A￿llu￿ Accoutrt for the year endxng 3 1st March 2023 TOTAL INCOMtNG RESOURCES Total Resources ¢xpendd on Managing and Adtninisterillg the Charity £29,448 Details of any funds materialty in deficit £30.788 NET INCOMINGI(OtrrGOIJYG) RESOURCES Total fi]nds brought fonvard Total funds carried forward £1.330 £1.614 £284 Further financial review details (Optional inforniation) The main sources of the charity's income are Ik)nations and gifts from supporters and memt*rs. In addition to any other ￿>werS they have. the Trustees may exercise any of the following p)wets in order to further the objects (but not for any other purpose)". (i) to rdise funds. In exercising this power. the Trustees must not undertake any substantial perniaDent trading activity and must comply with any relevant You may choose to include additional infomiation. where relevant about: the charity's prtnopal sources of funds (including any ftjndraising). how expenditure has supported the key objectives of the chartty; investment policy and objectives including any ethical inveslment policy adopted. (li) to buy, take on le&se or in exchange. hire or otherwise acquire property and to maintain and equip it for u5e- (iii) to scll, le&se or otherwisc dispose of all or any part of the property belongÈng to the Charity. In exercising this power. the TTU5tees must comply os appropriate wTth sections J6 and 37 of the Charities Act 1993, as amended by the Charities (iv) lo borrow mon¢y and to charge the whole or any part of the property belonging to the Charity as security for repayment of the money borrowed. The Truste¢s must Cotnply as appropriate with sections 38 and 39 of thc Charities Act 1993. &8 amended by the Charities Act ?006, if th¢y wish to mortgage land ovm¢d by the Clwity" (v) to ciwpmte with other ¢haritie4 voluntary bodies and statutory authorities and to exchange infonnation and advice with them. {vi) to eslablish or suptth any clwitable tnWs. associations or it￿ltUtionS fornied for any of the charitable purpws included in the objects. (vii) to acquire. merg¢ with or entsr into any partnership or joint venture anangement with any other Charity formed for any of the objects" (viii) to create such advisory committtts &% the Trustees think fiL (LK) to employ and remunerdte such staff as are nece&sary for cgnying out the work of th¢ Charity. (x) to do any other lawful thing that is necessary or desirable for the achievement of the ob"ects. TAR March 2012

Section F Other optional information ACCOUNTING POLICIES The accounts have prepared in accordance with applicable accoutitiTtg stand￿S and follow the r￿0MmendationS in Statement of Recommcnded PrdCti¢e: Accounting for Chatities (SOIIP) i&sued in October, 2000. Voluntary income is Teceived by way of donatiolls and gifts. It is shown in fijll in the Statement of Financial Activities. when received. Gifts in kind are Valu￿ at their ￿tirnated value to the charity and are included under the appropriate headings- Intangible tncome is valued aDd included in income to the extent that it represents goods or services which would othenvise be purchased. Where it is difficult or not txxssible to value the goods or services. such as volunfrer tim4 the accounts do not include them. Grants. including for the purch￿ of fixed assets. are recogniwj in full ill the S￿ement of Financial Activities in the year in which they are r￿e1V&t Restricted funds are to ir ￿Sed for specifted putFXW &s reqUI￿d by the donor. ExpendTture which meets these criteria is allocated to the relevant f￿d. Incom¢ derived froTTTr these funds is retaiTted within the funds concerned. Designated funds are unrestricted funds which the trustees have designated to Used for a S1￿C1fIC purpose. Where tbese funds yicld investment income, this ts available for ga￿1 rwose5. Unrestricted funds funds which are not designated or restricte Depreciation is calculated at a rate to write off the wst of tangible fixed assets on a reducing balallce over their eytttnated useful lives. The rates applied per annum are as follows: Fixtur&4 and Fittings Equipment Motor V¢hicle 25Yo Section G Declaration The trustees declare that they have appToved the trustees, report above. Signed on behaff of the charity's trustees Signature(s) Full name(s) A￿sE1C Simon Adeyittha Idowu Pastor mosh0￿j Amos Amosu Posltlon (eg Secretary, Chair, etc) Date 2911012023 TAR Mar¢* 2012

SIMNET OUTREACH MINISTRIES

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH, 2023

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, 2022 - 31st March, 2023
DIRECTORS/MANAGEMENT COMMITTEE
AT 31/03/2023 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, 2023

The Trustees present their report along with the financial statements of the charity for the year ended 31 March, 2023. 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

  1. The advancement of the Christian religion and education

  2. Welfare Support to bereaved families

  3. The provision of education & support for young people whose parents

  4. suffer from mental illness.

  5. Evangelism (Radio Ministry)

  6. Mission Meal Outreach for the homeless.

  7. 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 resulting in the annual work plan, associated resources to deliver core and projects, and support to our Volunteers,who are the backbone of our 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 members.

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 associated mitigating systems are in place.

4

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:

has not been met; or

Charterbrook Accountants EasyHub Croydon Suite 3.12

Date: 14-Oct-23

22 Addiscombe Road

Croydon CR0 5PE

6

SIMNET OUTREACH MINISTRIES

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31ST MARCH, 2023

STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31ST MARCH, 2023
Notes
Incoming resources:
Grant
Other Income
Tithes & Offering
Gift Aid
Donations
Less:
Resources Expended
Evangelism & Honorarium
Rent
Salaries
Insurance
Welfare Support & Mission Meal
Printing & Publicity
Motor Running Expenses
Missionary Work
Volunteer Expenses
Telephone & Internet
Independent Examiners fee
Conferences/Seminars
Equipment & Materials
Postage & Stationery
Subscription, Training & educational Support
Depreciation
1(f) & 3
TOTAL EXPENSES
Net Incoming/(Outgoing)
Balances b/f
Balances c/f		 Restricted
Unrestricted
TOTAL
TOTAL
Funds
Funds
2023
2022
£
£
£
£
-
-
-
-
-
2,947.00
2,947.00
2,745.00
-
17,028.00
17,028.00
16,448.00
-
6,358.00
6,358.00
7,056.00
3,115.00
3,115.00
5,169.00
-
29,448.00
29,448.00
31,418.00
4,510.00
4,510.00
6,066.00
5,020.00
5,020.00
4,515.00
-
-
54.00
-
778.00
778.00
1,885.00
-
2,342.00
2,342.00
2,677.00
-
2,530.00
2,530.00
1,541.00
-
678.00
678.00
1,869.00
-
-
-
-
650.00
650.00
190.00
-
1,867.00
1,867.00
1,711.00
-
400.00
400.00
400.00
-
4,820.00
4,820.00
4,079.00
-
3,371.00
3,371.00
1,778.00
-
254.00
254.00
50.00
-
3,167.00
3,167.00
3,004.00
-
391.00
391.00
391.00
30,778.00
30,778.00
30,210.00
-
(1,330.00)
(1,330.00)
1,208.00
1,614.00
1,614.00
406.00
284.00
284.00
1,614.00

7

SIMNET OUTREACH MINISTRIES

BALANCE SHEET AS AT 31ST MARCH, 2023

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		 2023
2022
£
£
£
£
4,309.00
4,700.00
-
-
284.00
1,614.00
284.00
1,614.00
(4,309.00)
(4,700.00)
(4,025.00)
(3,086.00)
284.00
1,614.00
-
-
284.00
1,614.00
284.00
1,614.00		 2023
2022
£
£
£
£
4,309.00
4,700.00
-
-
284.00
1,614.00
284.00
1,614.00
(4,309.00)
(4,700.00)
(4,025.00)
(3,086.00)
284.00
1,614.00
-
-
284.00
1,614.00
284.00
1,614.00
1,614.00
-
1,614.00
1,614.00

We certify that the annexed accounts are in accaordance with the records, information and explanations supplied by us Trustees and have our approval.

Signed by Order of the Board

APOSTLE SIMON ADEYINKA IDOWU

Date: 14-Oct-23

8

SIMNET OUTREACH MINISTRIES

Notes forming part of the financial statements for the year ended 31st March, 2023

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		 2023
2022
£
£
-
-
284.00
1,614.00
284.00
1,614.00

9

SIMNET OUTREACH MINISTRIES

Notes forming part of the financial statements (cont'd) for the year ended 31st March, 2023

3. Tangible fixed assets

Cost
At 01 April, 2022
Additions
Disposals
At 31st March, 2023
Depreciation
At 01 April, 2022
Charge for the year
On disposals
At 31st March, 2023
Net book value
At 31st March, 2023
At 31st March, 2022		 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
10,932
475
8,100
19,116
391
0
0
391
0
0
0
11,323
475
8,100
19,507
4,309
0
0
4,309
4,309
0
0
4,700

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		 2023
2022
400
400
3,909
4,300
4,309
4,700

10

SIMNET OUTREACH MINISTRIES

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH, 2023

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, 2022 - 31st March, 2023
DIRECTORS/MANAGEMENT COMMITTEE
AT 31/03/2023 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, 2023

The Trustees present their report along with the financial statements of the charity for the year ended 31 March, 2023. 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

  1. The advancement of the Christian religion and education

  2. Welfare Support to bereaved families

  3. The provision of education & support for young people whose parents

  4. suffer from mental illness.

  5. Evangelism (Radio Ministry)

  6. Mission Meal Outreach for the homeless.

  7. 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 resulting in the annual work plan, associated resources to deliver core and projects, and support to our Volunteers,who are the backbone of our 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 members.

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 associated mitigating systems are in place.

4

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:

has not been met; or

Charterbrook Accountants EasyHub Croydon Suite 3.12

Date: 14-Oct-23

22 Addiscombe Road

Croydon CR0 5PE

6

SIMNET OUTREACH MINISTRIES

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31ST MARCH, 2023

STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31ST MARCH, 2023
Notes
Incoming resources:
Grant
Other Income
Tithes & Offering
Gift Aid
Donations
Less:
Resources Expended
Evangelism & Honorarium
Rent
Salaries
Insurance
Welfare Support & Mission Meal
Printing & Publicity
Motor Running Expenses
Missionary Work
Volunteer Expenses
Telephone & Internet
Independent Examiners fee
Conferences/Seminars
Equipment & Materials
Postage & Stationery
Subscription, Training & educational Support
Depreciation
1(f) & 3
TOTAL EXPENSES
Net Incoming/(Outgoing)
Balances b/f
Balances c/f		 Restricted
Unrestricted
TOTAL
TOTAL
Funds
Funds
2023
2022
£
£
£
£
-
-
-
-
-
2,947.00
2,947.00
2,745.00
-
17,028.00
17,028.00
16,448.00
-
6,358.00
6,358.00
7,056.00
3,115.00
3,115.00
5,169.00
-
29,448.00
29,448.00
31,418.00
4,510.00
4,510.00
6,066.00
5,020.00
5,020.00
4,515.00
-
-
54.00
-
778.00
778.00
1,885.00
-
2,342.00
2,342.00
2,677.00
-
2,530.00
2,530.00
1,541.00
-
678.00
678.00
1,869.00
-
-
-
-
650.00
650.00
190.00
-
1,867.00
1,867.00
1,711.00
-
400.00
400.00
400.00
-
4,820.00
4,820.00
4,079.00
-
3,371.00
3,371.00
1,778.00
-
254.00
254.00
50.00
-
3,167.00
3,167.00
3,004.00
-
391.00
391.00
391.00
30,778.00
30,778.00
30,210.00
-
(1,330.00)
(1,330.00)
1,208.00
1,614.00
1,614.00
406.00
284.00
284.00
1,614.00

7

SIMNET OUTREACH MINISTRIES

BALANCE SHEET AS AT 31ST MARCH, 2023

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		 2023
2022
£
£
£
£
4,309.00
4,700.00
-
-
284.00
1,614.00
284.00
1,614.00
(4,309.00)
(4,700.00)
(4,025.00)
(3,086.00)
284.00
1,614.00
-
-
284.00
1,614.00
284.00
1,614.00		 2023
2022
£
£
£
£
4,309.00
4,700.00
-
-
284.00
1,614.00
284.00
1,614.00
(4,309.00)
(4,700.00)
(4,025.00)
(3,086.00)
284.00
1,614.00
-
-
284.00
1,614.00
284.00
1,614.00
1,614.00
-
1,614.00
1,614.00

We certify that the annexed accounts are in accaordance with the records, information and explanations supplied by us Trustees and have our approval.

Signed by Order of the Board

APOSTLE SIMON ADEYINKA IDOWU

Date: 14-Oct-23

8

SIMNET OUTREACH MINISTRIES

Notes forming part of the financial statements for the year ended 31st March, 2023

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		 2023
2022
£
£
-
-
284.00
1,614.00
284.00
1,614.00

9

SIMNET OUTREACH MINISTRIES

Notes forming part of the financial statements (cont'd) for the year ended 31st March, 2023

3. Tangible fixed assets

Cost
At 01 April, 2022
Additions
Disposals
At 31st March, 2023
Depreciation
At 01 April, 2022
Charge for the year
On disposals
At 31st March, 2023
Net book value
At 31st March, 2023
At 31st March, 2022		 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
10,932
475
8,100
19,116
391
0
0
391
0
0
0
11,323
475
8,100
19,507
4,309
0
0
4,309
4,309
0
0
4,700

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		 2023
2022
400
400
3,909
4,300
4,309
4,700

10