WHITE ROCK TABERNACLE
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31[ST] MARCH 2023
CHARITY NUMBER: 1149319
WHITE ROCK TABERNACLE 11 DENBIGH INDUSTRIAL ESTATE SECOND AVENUE BLETCHLEY MK1 1ED
INDEX Page Index 1 Trustees Report 2 - 3 Independent Examiner’s Report 4 Receipts and Payments Account 5 Statement of Assets and Liabilities 6 Notes on the financial Statements 7
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WHITE ROCK TABERNACLE
TRUSTEES’ REPORT YEAR ENDED 31[ST] MARCH 2023
The trustees are pleased to present their report for the year ended 31[st] March 2023 for the charity, White Rock Tabernacle with charity number 1149319.
The Trustees of the charity are: Rev Alpha Thetika Mr Marc Nowa
Mr Charles Osayimwen
The principal address of the charity is : 11 Denbigh Industrial Estate Second Avenue, Bletchley Milton Keynes, MK1 1ED
STRUCTURE, GOVERNANCE AND MANAGEMENT
The Charity governing document is a Trust Deed dated 26[TH] August 2012.The Charity is governed by a board on which the trustees are represented. It meets regularly to review, plan activities and monitor the financial position.
OBJECTIVES AND ACTIVITIES
The Objects of the organisation are first to advance the Christian Religion for public benefit . The trustees confirm that they have had due regard to the guidance issued by the Charity Commission on public benefit before deciding what activities the charity should undertake.
ACHIEVMENTS AND PERFORMANCE
The Organisation continues to hold successful meetings through the year in which individuals were equipped and educated on the principles and doctrines of the Christian faith. The organisation held several conferences during the year in which individuals came from all around the community to attend. This has produced good results in reaching and helping members of the community. The church continues to operate in its current building that it uses for its worship services.
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FINANCIAL REVIEW
The income of the charity is above £115,600. This is a higher amount for this year of the charity the costs have been well managed over this period. The organisation is still in a good position to manage its costs. There are no outstanding debts and the charity is a going concern.
PLANS FOR THE FUTURE
The church intends to continue to host its regular worship services and conferences in the UK. The intended re-appointment of our present independent examiner at the upcoming trustee meeting is expected to support the financial operations by making it more effective.
RESERVE POLICY
It is the policy of the Charity to maintain unrestricted funds, which are the reserves of the charity at about 3 months of unrestricted expenditure .This provides sufficient funds to cover any emergency expenditures that may arise from time to time. The charity will seek to maintain this level throughout the year.
RISK MANAGEMENT
The charity have assessed all the major risks to which the charity is exposed to, in particular those related to operations and finances of the charity, and are satisfied that systems are in place to mitigate exposure to major risks.
TRUSTEE RESPONSIBILITIES
Under the Charities Act 2011,the trustees are required to prepare a statement of accounts for each accounting year which gives a true and fair view of the state of the church. They are required to:
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Select suitable accounting policies and apply them consistently.
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Make judgements and estimates that are reasonable and prudent.
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State whether the applicable accounting standards have been followed.
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Prepare financial statements on an ongoing basis.
They are responsible for keeping proper records which disclose with reasonable accuracy the finances of the church at any time and to ensure that such accounts comply with the Charities Act 2011.They also have a responsibility to safeguard the assets of the church and to take reasonable steps to detect fraud or other irregularities.
Approved by the Trustees on 16[th] January 2024 and signed on their behalf by:
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Independent Examiner’s Report To the Trustees
WHITE ROCK TABERNACLE
I report on the accounts of the church for the year ended 31[st] March 2023 set out on the following pages which have been prepared on the basis of the accounting policies shown in the corresponding pages.
Respective responsibilities of trustees and examiner
The trustees of the church are responsible for the preparation of accounts: they consider that the audit requirement under section 144(2) of the Charities Act 2011 (the 2011 Act),does not apply. It is my responsibility to :
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Examine the accounts under section 145 of the 2011 Act.
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Follow the procedures laid down in the General Directions given by the Charity Commissioners made under section 145(5)(b) of the 2011 Act.
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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 Commissioners. An examination includes a review of the accounting records kept by the church 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 I do not express an audit opinion on the view given by the accounts.
Independent examiner’s statement
In the course of my examination, no matter has come to my attention;
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(1) which gives me reasonable cause to believe that, in any material aspect, the trustees have not met the requirements to ensure that:
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proper accounting records are kept( in accordance with section 130 of the 2011 Act
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accounts are prepared which agree with the accounting records and comply
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with the accounting requirements of the 2011 Act: or
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(2) to which , in my opinion , attention should be drawn in order to enable a proper understanding of the accounts to be reached
Chuks Ajuka Bsc(Man), FICB PMDip FRESH FIRE ORGANISATION Generator Business Centre 95 Miles Road MITCHAM Surrey CR4 3FH
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| WHITE ROCK TABERNACLE | WHITE ROCK TABERNACLE | WHITE ROCK TABERNACLE | WHITE ROCK TABERNACLE | ||||
|---|---|---|---|---|---|---|---|
| ACCOUNTS FOR THE YEAR ENDED 31st March 2023 | |||||||
| **1 ** | Receipts & Payments Account (General Purpose Fund) | ||||||
| Income Receipts | £/2023 | £/2022 | |||||
| Tithes and Offerings | 99034 | 79752 | |||||
| Interest | 1 | 6 | |||||
| GiftAid | 16621 | 13954 | |||||
| Grant | 0 | 3875 | |||||
| ___ | ___ | ||||||
| Total Receipts | 115656 | 97587 | |||||
| Direct Charitable Expenditure | |||||||
| Bankcharges | 152 | 156 | |||||
| Rates | 0 | 1453 | |||||
| Light &Heat | 1495 | 1152 | |||||
| Hire of Hall | 18188 | 19012 | |||||
| Internet | 87 | 261 | |||||
| Admin | 470 | 1253 | |||||
| PastoralServices | 69883 | 55470 | |||||
| Ministerswages | 0 | 6690 | |||||
| Welfare | 1130 | 1200 | |||||
| Hotel | 990 | 0 | |||||
| Professional fees | 3054 | 1685 | |||||
| Pension | 0 | 543 | |||||
| Travel& Substitence | 917 | 789 | |||||
| Stationary | 92 | 31 | |||||
| Accounting services | 370 | 370 | |||||
| Media supplies | 587 | 616 | |||||
| Repairs | 0 | 430 | |||||
| PAYE | 0 | 665 | |||||
| Equipment/Fixtures | 2007 | 1260 | |||||
| 99422 | 93036 | ||||||
| Other Expenditure | |||||||
| Website costs | 0 | 158 | |||||
| Refreshments | 863 | 1088 | |||||
| Event costs | 2150 | 2190 | |||||
| 3013 | 3436 | ||||||
| Total Payments | 102435 | 96472 | |||||
| Net Receipts/(Payments) for the year | 13221 | 1115 | |||||
| Loan received | 0 | 0 | |||||
| Loan paid | -2623 | -2231 | |||||
| Cash Funds brought forward | 10437 | 11553 | |||||
| Cash Funds at the end of the year | 21035 | 10437 | |||||
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WHITE ROCK TABERNACLE
2 Statements of Assets and Liabilities at 31st March 2023
| Cash Funds Cash at hand and in bank Debtors Total Cash Funds Assets Retained for the Charity's Own use Musical Instruments Equipments Fixtures & Fittings Liabilities Loan Accounting fee NET ASSETS |
Unrestricted Funds £/2023 £/2022 £ £ 21035 10437 _ _ 21035 10437 _ _ 444 555 2242 795 1008 1260 ___ ___ 3694 2610 9113 9769 336 280 15280 2998 |
|---|---|
Approved by the Trustees and signed on their behalf:
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WHITE ROCK TABERNACLE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31st March 2023
ACCOUNTING POLICIES
Basis of Accounting
These accounts have been prepared on the receipts and payments basis under section 42(3) of the Charities Act 1993.
Funds
Unrestricted funds are those which can be used at the Trustees' discretion. Restricted Funds are those whose purposes have been restricted by the donor.
Staff
The church had 1 employee during the accounting year. All the other work of the organisation was undertaken by volunteers during the financial year.
The trustee Alpha Thetika received remunueration for pastoral services to the charity of £30550.
Public Benefit
The charity acknowledges its requirement to demonstrate clearly that it must have charitable purposes or aims that are for public benefit.Details of how this is achieved are provided in the Trustees report. The trustees confirm that they have paid due regard to the Charity Commission guidance on public benefit before deciding what activities the charity should undertake.
Depreciation
Depreciation is calculated at 20% straight line method.
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