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 dOJment
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 prOdureS
adopted for the induction and
training of trustees;
the charity's organisational
structure and any wider
network with which the charty
• relationship vh 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 aarIng
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 Orverty 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 (lo1, 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 caYing 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/sla 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
t*comTng p(x)r. due to: beave¢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.
Det*ndtng 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 Ine¢ 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 Allu 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 itltUtionS
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 standS and follow the r0MmendationS
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 Sement of Financial Activities
in the year in which they are re1V&t
Restricted funds are to ir Sed for specifted putFXW &s reqUId by the donor. ExpendTture which meets these criteria
is allocated to the relevant fd. 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 S1C1fIC purpose. Where tbese funds
yicld investment income, this ts available for ga1 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)
AsE1C Simon Adeyittha Idowu
Pastor mosh0j 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
- suffer from mental illness.
4. Evangelism (Radio Ministry)
5. Mission Meal Outreach for the homeless.
6. 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:
- (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 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
- suffer from mental illness.
4. Evangelism (Radio Ministry)
5. Mission Meal Outreach for the homeless.
6. 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:
- (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 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