2024-01-31-accounts - Church On The Rock Dominion Centre

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Registered company number 8208837 Registered charity number 1149286

Church On The Rock Dominion Centre

Report and Accounts for the year ended 31 January 2024

Church On The Rock Dominion Centre Report and accounts Contents

	Page
Report of the Trustees	1
Independent examiners' report	5
Statement of financial activities	6
Balance sheet	7
Notes to the financial statements	8
Detailed statement of financial activities	15

Church On The Rock Dominion Centre Report of the Trustees

The trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the period ended 31 January 2024. The trustees have adopted the provisions of the 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 of Ireland (FRS102) issued on 16 July 2014, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) and the Charities Act 2011.

REFERENCE AND ADMINISTRATIVE INFORMATION

Registered company number 8208837

Registered charity number

1149286

Registered office

Dominion Centre Wallis Avenue Southend on Sea Essex SS2 6HS

Trustees/Directors

Rev Olabiyi Ajala Dr Oluseye Arikawe Joyce Ngonwe Dr Abiodun Popoola Dr Adenike Popoola

Company Secretary

Dr Abiodun Popoola

Independent Examiner

Stephen James Farrow FMAAT Estuary Accountancy Services 42 North Street Great Wakering Southend on Sea Essex SS3 0EL

Bankers

Lloyds Bank PLC

Church On The Rock Dominion Centre Report of the Trustees

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Risk management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

The board of trustees actively reviews the major risks facing the charity on a regular basis and ensures that measures are put in place to safeguard the charity's funds and assets. The trustees also ensure that legal advice is sought when necessary on crucial issues concerning the ministry.

ACHIEVEMENT AND PERFORMANCE

Objectives, activities and future plans

The board of trustees regularly review risk/s to the charity and provide oversight to mitigate them by putting safeguarding measures in place to protect charity’s funds and assets. We ensure that legal advice is sought where and when necessary, on legal matters and on issues regarding our operations and members of the church. The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

We are a Christian Charitable Company limited by guarantee and bound by law to write a yearly report/projection, and as a Christian Organisation, we are committed to the effective spread of the Gospel of Christ, in Southend on Sea, Essex, the UK and Northern Ireland and the rest of the world. Our motto is ‘transforming lives equipping men’ and our ministry mandate is summed up in 3’D’sDiscovery, Discipleship & Deployments.

As part of our ministry, we do provide financial, spiritual and moral support through the inspiration of the Holy Ghost, to assist people in difficulties and otherwise, to discover their inner God-given purpose to serve God and humanity, and to make right impacts in the society. We organise mentorship activities for our members to become future leaders in the communities they live, and at workplaces.

As part of our regular and weekly ministry, we have in place, trained coordinators/leaders who manage the Children and the Youth Church on Sundays. We are blessed with increasing numbers of children and young people attending weekly services, and it is our duty to train them in the way they should go in life. In addition, we hold weekly prayer meetings on Fridays, and prayer vigils every third Friday of the month.

We also have weekly interactive Bible studies on Wednesdays where we welcome people to ask questions from the bible especially, those relating to the monthly themes. It is our belief that if our members are acquainted with the Bible, they will be able to teach others. So, our mandate as a religious organisation is to teach our members the word of God through the inspiration of the Holy Spirit.

Following the removal of the national COVID-19 lockdown, we have returned back to holding our services at the Dominion Centre, the place of worship, and people have started coming back to church especially for weekly services and night vigils. We have also restarted the house fellowship, and we are encouraging more people to host them in different areas/regions in Southend.

Church On The Rock Dominion Centre Report of the Trustees

Charitable activities and future plans (continued)

We are making move to add new facilities to the church including installing new audio/video equipment to facilitate live streaming via the social media platforms, this will put to bed every audio and video requirements, for now and for the future. In addition, another project is in the pipeline, we plan to construct a baptismal pool in the church, which will help us to achieve another one of our mission statement goals, Water baptism, which is an open declaration of an inner determination and commitment of an individual to the new life in Christ.

We pray that the church will continue to grow in strength and in leaps and bounds this year and subsequent years in Jesus' name.

FINANCIAL REVIEW

The trustees continue to work towards maintaining unrestricted funds at a level which equates approximately three months of unrestricted expenditure.

The largest financial commitment of the charity was the mortgage on Dominion Centre, which was fully repaid in the year.

Please refer to the annexed accounts for a review of the finances of the Charity.

Review of financial position

At the balance sheet date the charity had total funds of £118,027 (2023 £113,289), all of which were unrestricted. That total includes £1,383 (2023 £5,052) held in a bank account. All funds are unrestricted.

Church On The Rock Dominion Centre

Report of the Trustees

STATEMENT OF TRUSTEES'/DIRECTORS' RESPONSIBILITIES

The trustees (who are also the directors of Church On The Rock Dominion Centre for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to:

select suitable accounting policies and then apply them consistently;
observe the methods and principles in the Charity SORP;
make judgements and estimates that are reasonable and prudent;
● prepare the accounts on the going concern basis unless it is inappropriate to presume that the charitable company will continue its operations.

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees submit their report and financial statements for the period which comply with current statutory requirements and the governing documents of the charity.

The trustees are also responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation on the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Small company provisions

This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.

This report was approved by the board on 21 October 2024 and signed on its behalf.

Dr Abiodun Popoola Director/Trustee

Church On The Rock Dominion Centre Independent Examiner's Report for the year ended 31 January 2024

I report on the accounts of Church On The Rock Dominion Centre for the period ended 31 January 2024, which are attached.

Respective responsibilities of trustees and examiner

The charity's trustees (who are also directors for the purposes of company law) are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.

Having satisfied myself that the charity is not subject to an audit under company law and is eligible for independent examination, it is my responsibility to:

examine the accounts under section 145 of the 2011 Act,
to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the 2011 Act), and
to state whether particular matters have come to my attention.

Basis of independent examiner’s report

My examination was carried out in accordance with the General Directions given by the Charity Commission. 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 t accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequentlyno opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statements below.

Independent examiner’s statement

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

1 which gives me reasonable cause to believe that in, any material respect, the requirements:
to keep accounting records in accordance with Sections 386 and 387 of the 2011 Act; and
- to prepare accounts which accord with the accountingrecords, comply with the accounting requirements of Sections 394 and 395 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice; Accounting and Reporting by Charities;

have not been met; or

2 to which, in my opinion, attention should be drawn in order to enable a proper understandingof the accounts to be reached.

Signed:________ Name: STEPHEN JAMES FARROW Relevant professional qualification or body: FMAAT

Address: Estuary Accountancy Services Ltd

42 North Street Great Wakering Essex SS3 0EL

Date: 21 October 2024

Church On The Rock Dominion Centre Statement of Financial Activities for the year ended 31 January 2024

Notes Unrestricted funds Restricted income funds Endowment funds Total funds £ £ £ £ Income and endowments from: Donations and legacies 3.1 39,498 - - 39,498 Investment income 3.2 - - - - Total 39,498 - - 39,498 Expenditure Expenditure on: Charitable activities 4.1 34,210 - - 34,210 Governance costs 4.2 550 - - 550 Total 34,760 - - 34,760 4,738 - - 4,738 RECONCILIATION OF FUNDS Total funds brought forward 113,289 - 113,289 TOTAL FUNDS CARRIED FORWARD 118,027 - - 118,027 Net income/(expenditure) for the reporting period 2024	2023 Prior year funds £ 34,125 21
	34,146 43,252 360
	43,612
	(9,466) 122,755
	113,289

Church On The Rock Dominion Centre Balance Sheet as at 31 January 2024

Notes Fixed assets Tangible assets 8 Current assets Debtors 9 Cash at bank and in hand 11 Total current assets Creditors: amounts falling due within one year 11 Net current assets TOTAL NET ASSETS Funds of the Charity Unrestricted funds 12 TOTAL FUNDS	Unrestricted funds Restricted income funds Endowment funds Total funds £ £ £ £ 105,108 105,108 13,306 - - 13,306 1,383 - - 1,383 14,689 - - 14,689 (1,770) - - (1,770) 12,919 - - 12,919 118,027 - - 118,027 118,027 118,027 118,027 - - 118,027 2024	2023 Total funds £ 103,128 5,914 5,052 10,966 (805) 10,161 113,289 113,289 113,289 -

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.

The members have not required the charitable company to obtain an audit of its financial statements in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime and in accordance with FRS102 SORP.

Dr Abiodun Popoola Director/Trustee Approved by the board on 21 October 2024

Church On The Rock Dominion Centre Notes to the Financial Statements

for the year ended 31 January 2024

1 BASIS OF PREPARATION

1.1 Basis of accounting

The accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts.

The accounts have been prepared in accordance with

the 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 of Ireland (FRS102) issued on 16 July 2014; > the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102); and > the Charities Act 2011.

1.2 Going concern

There are no material uncertainties related to events or conditions that cast significant doubt on the charity's ability to continue as a going concern.

1.3 Change of accounting policy

The accounts present a true and fair view and no changes have been made to the accounting policies adopted as laid out here.

1.4 Changes to accounting estimates

No changes to accounting estimates have occurred in the reporting period (3.46 FRS102 SORP)

1.5 Material prior year errors

No material prior year errors have been identified in the reporting period (3.47 FRS102 SORP).

2 ACCOUNTING POLICIES

2.1 Reconciliation with previous generally accepted accounting practice

There were no changes in accounting policy which required adjustment to, or reconciliation of, previous figures.

2.2 Income

Recognition of income These are included in the Statement of Financial Activities (SoFA) when:  the charity becomes entitled to the resources;  it is more likely than not that the trustees will receive the resources;  the monetary value can be measured with sufficient reliability. Offsetting There has been no offsetting of assets and liabilities, or income and expenses, unless required or permitted by the FRS 102 SORP or FRS 102. Grants and donations Grants and donations are only included in the SoFA when the general income recognition criteria are met (5.10 to 5.12 FRS102 SORP). In the case of performance related grants, income must only be recognised to the extent that the charity has provided the specified goods or services as entitlement to the grant only occurs when the performance related conditions are met (5.16 FRS 102 SORP).	Yes No N/a*	Yes No N/a*	Yes No N/a*
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Church On The Rock Dominion Centre Notes to the Financial Statements for the year ended 31 January 2024

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Church On The Rock Dominion Centre Notes to the Financial Statements for the year ended 31 January 2024

2.3 Grants with performance conditions 2.4 Assets Provisions for liabilities A liability is measured on recognition at its historical cost and then subsequently measured at the best estimate of the amount required to settle the obligation at the reporting date Basic financial instruments The charity accounts for basic financial instruments on initial recognition as per paragraph 10.7 FRS102 SORP. Subsequent measurement is as per paragraphs 11.17 to 11.19, FRS102 SORP. Redundancy cost The charity made no redundancy payments during the reporting period. Deferred income No material item of deferred income has been included in the accounts. Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, eg allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage. Where the charity gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SoFA once the recipient of the grant has provided the specified service or output. Expenditure and liabilities Liability recognition Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty. Membership subscriptions which gives a member the right to buy services or other benefits are recognised as income earned from the provision of goods and services as income from charitable activities. Settlement of insurance claims Insurance claims are only included in the SoFA when the general income recognition criteria are met (5.10 to 5.12 FRS102 SORP) and are included as an item of other income in the SoFA. Tangible fixed assets for use by charity These are capitalised if they can be used for more than one year, and cost at least £500. They are valued at cost. The depreciation rates and methods used are disclosed in note 14. Creditors The charity has creditors which are measured at settlement amounts less any trade discounts Grants payable without performance conditions Where there are no conditions attaching to the grant that enables the donor charity to realistically avoid the commitment, a liability for the full funding obligation must be recognised. Governance and support costs Support costs have been allocated between governance costs and other support. Governance costs comprise all costs involving public accountability of the charity and its compliance with regulation and good practice. Investment gains and losses This includes any realised or unrealised gains or losses on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year. Income from membership subscriptions Membership subscriptions received in the nature of a gift are recognised in Donations and Legacies.	Yes No N/a*	Yes No N/a*	Yes No N/a*
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Church On The Rock Dominion Centre Notes to the Financial Statements for the year ended 31 January 2024

They are valued at fair value except where they qualify as basic financial instruments. Debtors (including trade debtors and loans receivable) are measured on initial recognition at settlement amount after any trade discounts or amount advanced by the charity. Subsequently, they are measured at the cash or other consideration expected to be received. The charity has investments which it holds for resale or pending their sale and cash and cash equivalents with a maturity date less than one year. These include cash on deposit and cash equivalents with a maturity of loss than one year held for investment purposes rather than to meet short-term cash commitments as they fall due. Work in progress is valued at cost less any foreseeable loss that is likely to occur on the contract. Stocks held for sale as part of non-charitable trade are measured at the lower or cost or net realisable value. Goods or services provided as part of a charitable activity are measured at net realisable value based on the service potential provided by items of stock. Investments held for resale or pending their sale and cash and cash equivalents with a maturity date of less than 1 year are treated as current asset investments They are valued at cost. Fixed asset investments in quoted shares, traded bonds and similar investments are valued at initially at cost and subsequently at fair value (their market value) at the year end. The same treatment is applied to unlisted investments unless fair value cannot be measured reliably in which case it is measured at cost less impairment. They are valued at cost. The charity has heritage assets, that is, non-monetary assets with historic, artistic, scientific, technological, geophysical or environmental qualities that are held and maintained principally for their contribution to knowledge and culture. The depreciation rates and methods used as disclosed in note 16. The charity has intangible fixed assets, that is, non-monetary assets that do not have physical substance but are identifiable and are controlled by the charity through custody or legal rights. The amortisation rates and methods used are disclosed in note 15.	Yes No N/a*	Yes No N/a*	Yes No N/a*
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Not applicable

Church On The Rock Dominion Centre Notes to the Financial Statements for the year ended 31 January 2024

3 INCOME Unrestricted funds Restricted income funds Endowment funds Total funds £ £ £ £ 3.1 Donations and legacies: Tithes, offerings and donations 32,106 32,106 Gift Aid refund 7,392 7,392 39,498 - - 39,498 3.2 Investment income: Interest received - - - - - - Total income 39,498 - - 39,498 All income in the prior year was unrestricted. 4 EXPENDITURE Unrestricted funds Restricted income funds Endowment funds Total funds £ £ £ £ 4.1 Charitable activities: Salary Note 7 11,464 11,464 Pension 188 188 Ministry expenses 1,268 1,268 Conferences and training 900 900 Gifts and helps 706 706 10,702 10,702 Rates and water 3,476 3,476 Light and heat 1,200 1,200 Refreshments 191 191 Telephone and communications c 411 411 Website costs 282 282 Insurance 486 486 Postage, stationery and printing 551 551 Software - - Repairs and maintenance 841 841 Depreciation 1,184 1,184 Bank charges and interest 347 347 Sundry expenses 13 13 34,210 - - 34,210 4.2 Governance costs: 100 100 Independent examiner's fee 200 200 Payroll services 250 250 550 - - 550 Total expenditure 34,760 - - 34,760 2024 2024 Motor, travel and accommodation expenses Accountancy fee - Gift Aid reclaim	2023 Prior year funds £ 28,211 5,914
	34,125
	21
	21

	34,146
	2023 Prior year funds £ 11,913 170 2,314 345 2,890 13,505 3,099 689 726 465 239 473 - 168 5,351 774 118 13
	43,252
	100 200 60
	360

	43,612

All expenditure in the prior year was unrestricted. All expenditure incurred in both years was for the running of the church as defined by its objectives. No individual items of expenditure were material in nature or amount.

There were no extraordinary items of income or expenditure in either year.

5 EXTRAORDINARY ITEMS

Church On The Rock Dominion Centre Notes to the Financial Statements for the year ended 31 January 2024

6 PAID EMPLOYEES

6.1 Staff Costs Pastor's Salary Pension contributions Total	2024 £ 11,464 188 11,652	2023 £ 11,913 170
		12,083

No employees received employee benefits (excluding employer pension costs) for the reporting period of more than £60,000

6.2 Average head count in the year Charitable activities Total	2024 1 1	2023 1
		1

7 PENSION SCHEME

A pension scheme is currently in operation for the sole paid employee of the charity, commencing during 2021.

8 TANGIBLE FIXED ASSETS

Cost or valuation At 1 February 2023 Additions At 31 January 2024 Depreciation At 1 February 2023 Charge for the year At 31 January 2024 Net book value At 31 January 2024 At 31 January 2023 Freehold land and buildings: Historical cost Cumulative depreciation based on historical cost	Freehold property Church, office and computer equipment Motor vehicles £ £ £ 100,000 5,570 5,760 - 3,164 - 100,000 8,734 5,760 - 2,766 5,436 - 1,103 81 - 3,869 5,517 100,000 4,865 243 100,000 2,804 324 2024 £ 100,000 - 25% reducing balance	Total £ 111,330 3,164
		114,494
		8,202 1,184
	- 3,869	9,386
	100,000 4,865	105,108
	100,000 2,804	103,128
		2023 £ 100,000
		-

The freehold property is the church building - Dominion Centre, Wallis Avenue, Southend on Sea, Essex SS2 6HS.

DEBTORS AND PREPAYMENTS Gift Aid refund CASH AT BANK AND IN HAND Cash at bank and on hand Total	2024 £ 13,306 2024 £ 1,383 1,383	2023 £ 5,914
		2023 £ 5,052
		5,052

Church On The Rock Dominion Centre Notes to the Financial Statements

for the year ended 31 January 2024

11 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors Taxes and social security Accruals Total 12 MOVEMENTS IN FUNDS 12.1 Funds held and movements during the current financial period: 01/02/2023 Income £ £ Unrestricted funds General fund 113,289 39,498 113,289 39,498 12.2 Funds held and movements during the previous financial period: 31/01/2022 Income £ £ Unrestricted funds General fund 122,755 34,146 122,755 34,146 13 TRANSACTIONS WITH TRUSTEES AND RELATED PARTIES 13.1 Trustee remuneration and benefits In the financial period the charity paid the following remuneration to a trustee: Pastor Abiodun Popoola 13.2 Trustees' expenses	2024 £ 105 915 750 1,770 Expenditure £ 34,760 34,760 Expenditure £ 43,612 43,612 2024 £ 11,464 11,464	2023 £ 54 435 315
		805
		31/01/2024 £ 118,027
		118,027
		31/01/2023 £ 113,289
		113,289
		2023 £ 11,913
		11,913

During the year various expenses incurred by Pastor Abiodun Popoola in the course of his work for the charity were reimbursed to him, as detailed under Note 4.

Church On The Rock Dominion Centre Detailed Statement of Financial Activities for the year ended 31 January 2024

INCOMING RESOURCES Voluntary income Tithes, offerings and donations Gift Aid refund Investment income Interest received RESOURCES EXPENDED Charitable activities Salary Pension costs Ministry expenses Conferences and training Gifts and helps Motor, travel and accommodation expenses Rates and water Light and heat Refreshments Telephone and communications costs Website costs Insurance Postage, stationery and printing Software Repairs and maintenance Depreciation Bank charges Interest payable Sundry expenses Governance costs Independent examiner's fee Accountancy fees - Gift Aid reclaim Payroll services Total resources expended Net income/(expenditure)	2024 £ 32,106 7,392 39,498 - - 11,464 188 1,268 900 706 10,702 3,476 1,200 191 411 282 486 551 - 841 1,184 347 - 13 34,210 200 100 250 550 34,760 4,738	2023 £ 28,211 5,914
		34,125
		21
		21
		11,913 170 2,314 345 2,890 13,505 3,099 689 726 465 239 473 - 168 5,351 774 118 - 13
		43,252
		200 100 60
		360

		43,612

		(9,466)