The Mountain of Salvation Ministries Charity No. 1189580 Trustees, Report and Unaudited Accounts 31 December 2021
The Mountain of Salvation Ministries Contents Pages Trustees, Annual Report Independent Examiner's Report Statement of Financial Activities 2to4 Summary Income and Expenditure Account Balance Sheet Statement of Cash flows Notes to the Accounts IOto14 Detailed Statement of Finar)cial Activities 15to Page I
The Mountain of Salvation Ministries Trustees Annual Report The trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the unaudited financial statements of the charity for the year ended 31 December 2021. REFERENCE AND ADMINISTRATIVE DETAILS Charity No. 1189580 Registered Office BLOCK H-ARCH 5 61-65 PAULET ROAD LONDON SE5 9HW Trustees The following Trustees served during the year. Elizabeth Agboola Grace Adams Olamide Agboola Rukayat Jayeola Key Management Personnel Chair Elizabeth Agboola Accountants 360 Accounting Services Ltd 27 Old Gloucester Street London WCIN 3AX OBJECTIVES AND ACTIVITIES The charity raises awareness of Christian religious beliefs and practices via church services, communal gatherings, meetings and other (via social medial The Church will advance Christian Evangelism in London and throughout England for the benefit of the public, mainly but not exclusively throLJgh the holding of prayer meetings. celebration of religious festivals, religious education, enlightening others about the Christian faith and to provide outreach and pastoral care for the community. STRUCTURE. GOVERNANCE AND MANAGEMENT The Trustees play a primary role in ensuring good governance and functioning of the foundation. The Board's role, functions and responsibilities are quite clearly defined. Page 2
The Mountain of Salvation Ministries Trustees Annual Report GOVERNING DOCUMENT The Mountain of Salvation Ministries is an unincorporated charitable organisation formed on 20 May 2020 and registered as a charity on 20 May 2020. The charity is governed by a CIO 20 May 2020. RECRUITMENT AND APPOINTMENT OF TRUSTEES The members of the General Trustee Board are trustees for the purposes of charity law. New trustees may be appointed by resolution of a meeting of the trustees. Much of the charity's work focuses upon the promotion of the Christian religion and the running and maintenance of its places of worship. The General Trustee Board seeks to ensure that the needs of this group are appropriately reflected through the diversity of the trustee body. To enhance the potential pool of trustees, the charity has, through selective advertising and networking with voluntary organizations active in the sector, sought to identify those who would be willing to become members of the charity and use their own experience to assist the charity. RISK MANAGEMENT We are committed to a policy of identifying, monitoring and managing the risks that might adversely affect the activities in which we are involved. In this context, risk is defined as the potential to fail to achieve charity objertives and for loss, financial and reputational, inherent in the environment in which we operate in the nature of the transactions undertaken. The princip31 risk of the charity has been its dependence on voluntary income. Trustees have initiated various processes to mitigate such risk, so that the charity has sufficient reserve in the event of adverse conditionlsl. The trustees have also examined other operational and business risks which they face and confirm that they have taken steps to mitigate the significant risks. PUBLIC BENEFIT The Trustees have complied with the duty in Section 4 of the Charities Act 2006 and have paid due regard to public benefit when preparing this report. The benefit provided to the public is consistent with the aims of the charity in UK. FINANCIAL REVIEW The largest contribution to the charity for the year tame from general offerings.The Charity currently aims to designate the total fund received less expenses for the main objective of the charity. PLANS FOR FUTURE PERIODS The Charity plans to develop various fundraising strategy to include mass marketing. Besides mass marketing and events, the charity is aiming to achieve its targets through securing donations from willing individuals. Page 3
The Mountain of Salvation Ministries Trustees Annual Report STATEMENT OF BOARD OF TRUSTEES, RESPONSIBILITIES The Board of Trustees are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice. Charity law applicable to charities in England/Wales requires the Board of Trustees to prepare financial statements for each financial year which gives a true and fair view of the state of affairs of the Charity and of the surplus or deficit of the Charity for that period. In preparing those financial statements the Board of Trustees have- -selected suitable accounting policies and applied them consistently, -made judgments and estimates that are reasonable and prudent, -stated whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and -Prepared the financi31 statements on a going concern basis (Ljnless it is inappropriate to presume that the Charity will continue in operation). The Board of Trustees has overall responsibility for ensuring that the Charity has an appropriate system of controls, financial and otherwise. They are also responsible for keepinE proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 1993. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the detection and prevention of fraud and other irregularities. We, as the Trustees of the Charity who held office at the date of approval of these financial statements as set out above each confirm, so far as we are aware, that- -There is no relevant information of which the Charity's independent examiner are unaw3re; and we have -Taken all the steps that we ought to have taken as Trustees in order to make ourselves aware of any relevant information and to establish that the charity's independent examiner is aware of that information. This report was approved by the Trustees on and signed on their behalf by.. Trustee 31 October 2023 Page 4
The Mountain of Salvation Ministries Independent Examiners Report Independent Examiner's Report to the trustees of The Mountain of Salvation Ministries I report to the charity trustees on my examination of the financial statements of The Mountain of Salvation Ministries for the year ended 31 December 2021. Responsibilities and basis of report As the charity's trustees of the company land also Its directors for the purposes of company lawl you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 20061'the 2006 Act. Having satisfied myself that the financial statements of the Charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respert of my examination of your charity's financial statements as carried out under section 145 of the Charities Act 20111'the 2011 Act'l. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145151 Ibl of the 2011 Act. Independent examiner's statement I have completed my examination. I can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe: accounting records were not kept in accordance with section 386 of the 2006 Art . or the financial statements do not accord with those records,. or the financial statements do not comply with the accounting requirements under section 396 of the 2006 Act other than any requirement that the financial statements give a 'true and fair, view which is not a matter considered as part of an independent examination; or the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached. Dawnette Allen BAIHonsl FCCA 360 Accounting Services Ltd 27 Old Gloucester Street London WCIN 3AX 31 Ortober 2023 Page 5
The Mountain of Salvation Ministries Statement of Financial Activities forthe year ended 31 December 2021 Unrestricted funds Total funds Total funds 2021 2021 2020 Notes Income and endowments from: Donations and legacies 18,785 18,785 14,352 Total 18,785 18,785 14,352 Expenditure on: Other 19,490 19,490 12,750 Total 19,490 19,490 12,750 Net gains on investments Net lexpenditure)lincome Transfers between funds 17051 17051 1,602 Net lexpenditure)lincome before other gainslllossesl 17051 17051 1,602 Other gains and losses Net movement in funds 17051 17051 1,602 Reconciliation of funds: Total funds brought forward 1,602 1,602 Total funds carried forward 897 897 1,602 Page 6
The Mountain of Salvation Ministries Summary Income and Expenditure Account forthe year ended 31 December 2021 2021 2020 Income 18,785 14,352 Gross income for the year 18,785 14,352 Expenditure 19,490 12,750 Total expenditure for the year Net lexpenditurellincome before tax for the year 19,490 12,750 17051 1,602 Net (expenditure Ilincome for the year 17051 1,602 Page 7
The Mountain of Salvation Ministries Balance Sheet at 31 December 2021 Company No. Notes 2021 2020 Current assets Debtors Cash at bank and in hand 1,554 1,213 2,767 11,8701 897 3,108 898 4,006 18501 3,156 Creditors: Amount falling due within one year Net current assets Total assets less current liabilities 897 3,156 Net assets excluding pension asset or liability 897 3,156 Total net assets 897 3,156 The funds of the charitv Restricted funds Unrestricted funds General funds 897 1,602 897 1,602 Reserves Total funds 897 1,602 These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. For the year ended 31 December 2021 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit 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. Approved by the board on 31 October 2023 And signed on its behalf by: Ruka atJa eola Trustee 31 October 2023 Page 8
The Mountain of Salvation Ministries Statement of Cash flows forthe year ended 31 December 2021 2021 2020 Cash flows from operatlng artSvitSes Net lexpenditure)/income per Statement of Financial Activities 17051 1,602 Adjustments for: Decrease/llncreasel in trade and other receivables 1,554 11,5541 Net Cash provided by operating artivitie5 48 Net cash from investing activities Net cash from financing activities Net increase in cash and cash equivalents 48 Cash and cash equivalents at the beginning of the year 898 Cash and cash equivalents at the end of the year 1,747 48 Components of cash and cash equivalents Cash and bank balances 1,213 898 1,213 898 Page 9
The Mountain of Salvation Ministries Note5 to the Accounts forthe year ended 31 December 2021 l Accounting policies Basis of preparation The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective I January 20151 Icharities SORP IFRS 10211, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006. Income Recognition of income Income is included in the Statement of Financial Activities ISOFAI when the charity becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliabilitv. Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SOFA. Donations and legacies Voluntary income received by way of grants, donations and gifts is included in the the SOFA when receivable and only when the Charity has unconditional entitlement to the income. Tax reclaims on Income from tax reclaims is included in the SOFA at the same time as the donations and gifts giftldonation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material. Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/llossesl on This includes anv Eain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/llossesl on investment assets This includes any gain or loss on the sale of investments. Page 10
The Mountain of Salvation Ministries Note5 to the Accounts Expenditure Recognition of expenditure Expenditure is recognised on an accruals basis. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditLJre to which it relates. Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs. All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid. These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any auditlindependent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs. Other expenditure These are support costs not allocated to a particular activity. Grants payable Governance costs Taxation The charity is exempt from corporation tax on its charitable activities. Trade and other debtors Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Cash and cash equivalents Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial p051tion, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management. Trade and other creditors Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estlmated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. Pension c05t5 The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment5 obligations. The contribution5 are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds. Page 11
The Mountain of Salvation Ministries Note5 to the Accounts Receipt of donated goods. facllltles and servlces All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity. 2 Company status The company is a private company limited by guarantee and consequently does not have share capital. 3 Statement of Flnanclal Actlvltles- prlor year Unrestricted funds Totsl funds 2020 2020 Income and endowments from: Donations arbd legacies Total 14,352 14,352 14,352 14,352 Expenditure on: Other 12,750 12,750 Total 12,750 12,750 Net Income 1,602 1,602 Net income before other gainslllossesl 1,602 1,602 Other gains and losses: Net movement in funds 1,602 1,602 Reconciliation of funds: Total funds carried forward 1,602 1,602 4 Income from donations and legacie5 Unrestricted Totsl Total 2021 2020 18,785 18,785 18,785 18,785 14,352 14,352 Page 12
The Mountain of Salvation Ministries Note5 to the Accounts 5 Other expendlture Unrestricted Totsl Total 2021 2020 Motor and travel costs 860 Premises costs 18,450 20 18,450 20 9,340 250 General administrative costs Legal and professional costs 1,020 19,490 1,020 19,490 2,300 12,750 6 Staff costs No employee received emoluments in excess of £60,000. 7 Debtors 2021 2020 Other debtors 1,554 1,554 3,108 3,108 8 Credltors: amounts falling due within one year 2021 2020 Accruals 1.870 1,870 850 850 9 Movement in funds Incoming resource5 {Includlng other At l January gainsllosse5 2021 At31 Resources expended December 2021 Restricted funds: Unrestricted funds: General funds 1,602 18,785 119,4901 897 Total funds 1,602 18,785 119,4901 897 10 Analysi5 of net assets between funds Unrestricted funds Total Net current assets 897 897 897 897 Page 13
The Mountain of Salvation Ministries Note5 to the Accounts 11 Reconclllatlon of net debt At31 December At l January 2021 Cash flows 2021 Cash and cash equivalents 898 315 1,213 1,213 898 315 Net debt 898 315 1,213 12 Related party disclosures Controlling party The company is limited by guarantee and has no share capital; thus no single party controls the company. Page 14
The Mountain of Salvation Ministries Detailed Statement of Financial Activities forthe year ended 31 December 2021 Unrestricted funds Total funds Total funds 2021 2021 2020 Income and endowments from: Donations and leEacies 18,785 18,785 18,785 18,785 14.352 14.352 Total income and endowments 18,785 18,785 14,352 Expenditure on: Travel and subsistence 860 860 Premises costs Rent Premises repairs and maintenance 18,450 18,450 8,850 490 18,450 18,450 9,340 General administrative costs, including depreciation and amortisation Sundry expenses Telephone, fax and broadband 20 20 175 75 20 20 250 Legal and professional costs Accountancy and bookkeeping Consultancy fees 1,020 1,020 850 1,450 2,300 1,020 1,020 Total of expenditure of other costs 19,490 19,490 12,750 Total expendlture 19,490 19,490 12,750 Net gains on investments Net lexpendlture}Ilncome 17051 17051 1,602 Net lexpenditure)lincome before other gainslll05ses1 Other Gains 17051 17051 1,602 Net movement in funds 17051 17051 1,602 Reconciliation of funds: Total funds brought forward 1,602 1,602 Total fund5 carried forward 897 897 1,602 Page 15