CHARITY REGISTRATION NUMBER: 237780 ROTHERHITHE FREE CHURCH Trustees, Report and Financial Statements for the Year Ended 31 December 2023 Chartered accountants Unit 16, Brockley Cross Business Centre 96 Endwell Road LONDON SE4 2PD ROTHERHITHE FREE CHURCH Financial Statemgnts Year ended 31 December 2023 Page Trustees, annual report Independent examineff s report to the trustees Statement of financial activities Statement of financial position Notes to the flnanclal statements ROTHERHITHE FREE CHURCH Trustees. Annual Report Year ended 31 December 2023 The trustees present their report and the unaudited financial statements of the charity for the year ended 31 December 2023. Reference and administrative details R8gister6d charity name ROTHERHITHE FREE CHURCH Charlty regI5tratlon number 237780 Prlnclpal offlce 54 Culling Road Rotherhithe LONDON SE16 2TN The trustees F Omilaju M Sunmaila O Sofoluke Independent examlner Joshua Efue FCCA ROTHERHITHE FREE CHURCH Trustees, Annual Report (contlnu8dJ Year ended 31 December 2023 Structure, governance and managemont Governlng Document The Charity Is governed by a Declaration of Trusl made on 30th July 1898. The organisalional structure of the Charity conslsts of the Trustees who who determine the polices of the charity. The Church is currently run by the Members headed by the Pastor and Secrelary. Oblectlves and actlvltles The Members have the responsibility of runnlng the Charity and promoting Ils values in Ilne with its Gharilable objects which are as follows.. To advgnce the Chrlsli8n Faith in accordanc6 with the slalfrment of bellefs In such ways and In such parts of tFie Unlled Kingdom or the wotld as the Trustees from lime lo time may Ihlnk fll. To relieve sl¢kne$$ and financial hardshlp and lo promote and p￿SerVe good health by provldlng fund8, goods or 8ervi¢es of any kind, Includlng through the provlsion of Gounselling and support in such parts of the United Kingdom or the World a5 Ihe Member5 from lime to tlm$ think fil,. and To fulfil such other purposes which are exclugively charllable accordlng lo the law of England and Wales and are connected wllh thè charitable work of the Trust In such ways and in such parts of the United Klngdom or the World as the Trustee8 from Ilme to Ilme may Ihlnk fil. The Members musl use the income and may use the capital of the Chur¢h In promoting the objects. Actlvltleg The Members are commllled lo establishing the values of the Christian Fallh IhroLJgh the Charilrfs activities 2nd services lo the benefit of the re¢ipien15 of ils Services with regard lo the Charity Commisslon's guidance on public benefit especially as il relates lo the advancement of religion. 1, Pastoral Care - The Members are commltted lo carylng out a pastoral needs analysls wllh a vlew to identifying per$ons who are in hardship and are in need of Gare. The Charity responds by providing finaNcial h*lp, prayers and oounselling. This is provided to anyone who is in need of pastoral Care an il 1$ offered wilhoul any dis¢riminalion or prejudice. 2. Educatlonal - In line with its charitable object, the Members provided weekly fora for people of dlfferent persuaslons, classes, cultures and race to learn about the Christian Faith. 3. Spirituality - This is provided in Ihe Christian context through worship. prayer and preaching. The Church helps parishioners to Ilve out their Falth and IrLJsI in Jesus Christ. 4. Misslons - The Charity is commilled lo missionary activities around the world. ROTHERHITHE FREE CHURCH Trustees. Annual Report {c*>nUnued? Year ended 31 December 2023 AGhievements and performance The following are a summary of our achlevements and performances. Worshlp, Prayer and Edueatlon Various aGlivilies were planned and successfully executed lo the benefit of members of drfferenl ¢ommunilies. This resulted in effective engagement with various communities where the Charity fun¢lions. 1. Th8 Members declded that il wlll conllnue lo engage wllh th8 communlly through ils monthly evangelism programme and early morning prayer meetlngs. 2. The trainin9 and development of members of the Choir is on-going. 3. The Charily Ir8ined lis member8 corporately on the effective ways of praying. This is on-going. N¢tworklng ond Ecumenl¢al Relatlon$hlp$ The Charity is a member of the Fellowship of Indepondent Evangelical Churches IFIECI. Apart from this achievement, we still continue lo network with olher Churches Sn our communilles. Pastoral counselllng and prayer5 are also offered lo other ministers In the Gommunlty. Charltable Use of Church Faclllty 1. We already open the Church facllily for parishioners lo Come for personal prayers outside our normal sorvi¢e days. This has further boen en¢ouraged by d$$ignaling specifSc leaders lo assist those who lack ¢ompeten¢y in this area. 2. We are also plannlng lo run soup kllchens for the homeless and hungry people In the communlly. Tralnlng and development of volunleeis has beet) agreed bul wlll be executed In the next phase. This Is on-golng. 3. We have successfully offered drop in servlces for counselling and prayers. Thls18 on-going. Voluntggrs The Charity continues to enjoy the service8 of various volunteers. The Members rellerale that the successes of the Charity could not have been achieved if not for the invaluable contributions of all those who volunteered. The Secretary will like lo thank every volunteer for their conlribullon and pray8 that God will bless everyone. FinanGial review The income of the Church is derived pr$dominanlly from donations by the members. Total receipts for the year amounted lo £78,16312022,' £70,328). ROTHERHITHE FREE CHURCH Trustees, Annual Report IGontlnu6d) Year ended 31 December 2023 The Irustee5' annual report was approved on 31 October 2024 and signed on behalf of the board of trustees by.. F Omilaju Trustee ROTHERHITHE FREE CHURCH Independent Examiner's Report to the Trustees of ROTHERHITHE FREE CHURCH Year ended 31 December 2023 I report lo the trustees on my examirnation of the financlal 51atemenls of ROTHERHITHE FREE CHURCH {'Ihe charilll for the year ended 31 December 2023. Re5ponsibilitigs and basi¥ of report As the trustees of the charity you are responsible for the preparallon of the flnanclal slalemenls in accordanc8 with th8 requirements of the Charllies Act 20111.the Acl'}- I report in respect of my examination of the charitvs financial slalemenl8 carried out under section 145 of the 2011 Act and in carrying out my examinalion I have followed all the applicable Directions given by the Charity Commission under section 145{51{bl of the Act. Independent examlner's 8tatement I have Gompleled my examln81ion. I conflrm that no material mallers have com8 to my allenlion In onneclion with the examlnalion giving me cause lo belleve that ir¢ any material re5pecl'. accounting records were not kepl in rospecl of the oharlly as requlred by Section 130 of the Act.. or the flnancial 8latemenls do not accord wlth those records., or the financial slalomenls do not comply with the appllcable requirements concernlng the form and content of accounts sel out in the Charities IAccounls ?nd Reports) Regulatlons 2008 other than any requirement that Ihg accounts give a 'lrue and falr, vlew which is nol a maller consldered as parl of an independent examination. I have no concerns and have come across no other matters In connecllon wllh the examlnalion lo which allenlion should be drawn in this report in order lo enable a proper understandlng of the accounts lo be reached. Joshua Efue FCCA Independent Examlner 4th November 2024 Joshua Efue & Co Chartered Cerlrfied Accounlanls Unil 16, Brockley Cross Business Centre 96 Endwell Road LONDON SE4 2PD ROTHERHITHE FREE CHURCH Statement of Financial Activities Year ended 31 December 2023 2023 Unreslricled funds Total funds Total funds 2022 Noto Income and endowments Donallons and lega¢i6s Other tradlng 2clivilies Investment Income 43,412 32,700 2,051 78,163 43,412 32,700 2,051 78,163 21,451 48,875 Total Incoma 70,328 Expendlture Expendllure on ralsing funds-. Costs of ralslng don211ons and legaeles Expendllure on char112ble acllvilles Total expendlture 76,021 763 76,021 763 58,650 796 76.784 76,784 59.446 Not Income and not movomant In funds 1,379 1,379 10.882 Reconclllatlon of funds Total funds brought forward Total funds carrled foNard 75,376 76,755 75,376 76,755 84,494 75,376 The statement of flnanclal aclivillas includes all galns and losses recognlsed In the year. All Income and expendllure derlve from conllnulng acllvllles. The notes on pages 8 to 14 form part of th¢$0 finan¢lal $tat¢mont$. ROTHERHITHE FREE CHURCH Statement of Flnanclal Posltlon 31 December 2023 2023 2022 Flxed assets Tangible fixed assets 15 1,801 2,196 Current assets Cash at bank and in hand 75,404 75,021 Crodltors: amounts falllng due wlthln one year Net current assets 18 450 1,841 73,180 75,376 75,376 74,954 76,755 76,755 Total assets les8 current Ilabllltleg Net assets Funds of the Gharlty Unre51ricled funds 76,755 75.376 Total eharity funds 18 76,755 75,376 These finan¢ial stsl¢menls were approved by the board of Iruslees and aulhorlsed for Issue on 31 October 2024, and are signed on behalf of the board by.. F Omilaju Trustee The notes on pagès 8 to 14 form part of tho9¢ financial ststemonts. ROTHERHITHE FREE CHURCH Notes to the Financial Statements Year ended 31 December 2023 General Informatlon The charity is a public benefit entity and a regislered charity in England and Wales and is unincorporated. The address of the principal office is 54 Culling Road, Rolh8rhilhe, SE16 2TN. Rolherhithe. Statémènt of eomplianco These financial slalemenls have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the Statement of Recornmended Practice applicable lo charities preparing their accounts in acc¢rdan¢e with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) (Charities SORP IFRS 10211 and the Charities Act 2011. Accounting pollcie6 Basls of preparatlon The flnanclal slalemenls have bèen prepared on the hlslorlcal cost basls, as modlfled by the revaluallon of certain flnanclal assets and llabllllles and investment properties measured al falr value through Income or expenditure. The flnancial slalemenls afe prepared In $terllng, whl¢h is th9 functional currency of the enlily. Golng GonGorn There aro no material unc&rtainli8s about the charity's ability to continue. Judgements and key 8ourco8 of éstlmatlon uncertalnty The preparation ol the financial slalemenls reouiies management lo make judgements, esllmates and assumptions that affect the amounts roport¢d. These estimates and judgements are continually reviewed and aro baseos on experience and other factors, including expeclatlons of future events that are believed lo be reas¢nable undor the ¢ir¢um$lanees. Fund accountlng Unfeslrlcled funds are available for use at the discretion of the truglees lo further any of the charllys purpose8. Deslgnated funds are unrest￿cted funds earmarked by the trustees for partlcular future protect or commitment. Reslricled funds are subjected lo restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes.. reslricled income funds or endowment funds. ROTHERHITHE FREE CHURCH Notes to the Financial Statements Icontlnu8dJ Year ended 31 December 2023 ounting policies (Gontlnygd) Incoming resources All incoming resourGes are included in the statement of financial activities when entillernenl has passed lo the charity., it is probable that the e¢onomic benefits associated with the IraNsa¢lion will flow lo Ihe charity and the amount can be reliably measured. The following spetsrfi¢ policies are applied lo particular categories of income.. Income from donations or grants is recognised when there Is evidence of enlillernent lo the gfft, receipt Is probable and Its amount can be measured reliably. legacy income is recognised when receipt is probab18 and enlillemenl is established. Sncome from donated goods Is measured al the fa1r value of the goods unless Ihls Is Smpraclical lo measure reliably, in which case the value Is derived from the cost lo the donor or the estimated resale value, Donated facililies and service5 are recogni3ed in the aG¢ouDIs when received if the value Gan be reliably measured. No amounts are included for the ¢onlribulion of general volunteers. Sncome Irom contrac18 for the supply of servlces Is recognSsed ￿th the delivery of the contracted 8ervlce. Thls 18 classlfled as unreslrlcled funds unless there is a conlraclu81 requirement for il to bè spent on a particular purpose and returned if unspent, in which case st may be regarded as reslrlcled. Rè¥our¢es oxpènd•d Expgndllure Is recognlsed on an accruals basls as a liability 15 incurred. Expendlturg Sncludes any VAT which cannot be fully recovered, and 15 classifled under headings of the stalemonl of financial acllvilies lo which It relates.. expenditure on raislng funds includes the costs of all fundraising aclivilles, events, non- charitable Irading aclivilies, and the sale of donated goods. expenditure on Gharilable aclivities inclvdes all costs InGUTred by e ch8rily in undertaking a¢livities that further ils Gharilable aims for the benefit of its benefiGiaries, in¢luding Iho$g support costs and ¢osls relating to the governan¢e of the ¢harity apportioned to ¢harilablg aclivitie¥. other expenditure includes all expenditure that Is neither related to raising funds for the chailly nor parl of Ils expendllure on charitable acllvilies. All costs are allocated lo expenditltre categories reflecting the use of the resource. Direct costs attributable lo a single activity are allocaled directly lo that aclivily. Shared costs are apportioned be￿en the activities they contribute to on a reasonable, justifiable and consistent basis. Tangible ass•ts Tangible assels are initially recorded al cost, and subsequently slated al cost less any accumulated depreciation and impairment losses. Any langiblg assets carried al revalued amounts are recorded at the faiT value at the dale of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. ROTHERHITHE FREE CHURCH Notes to the Flnanclal Statements (contlnued) Year ended 31 December 2023 Accounting poliGie¥ Depreclatlon Depreclatlon Is calculated so as lo wrlle off the cost or valuation of an asset, less ils residual value, over the useful economic1Sfe of that asset a8 follows: Fixtures and flttings 18Vo reduclng balance lrnpalrmgnt of flxed assets A r&view for indicators of impairment Is carrisd out al each reportlng dale, with the recoverable amount being eslimaled where such indicators exlsl. Where th& carrying value exceeds the recoverable amount, the asset Is impaired accordlngly. Prlor Impalrmenls are also reviewed for possible reversal al each reportlng dale. For the purposes of impairment lesling, when 11 18 not possible lo estimate Ihe recoverable amount of an individual asset, an estimate Is made of the recoverable amount of the ca8h- generating unit lo which the asset belongs. The cash-generaling unil is the smallest identifiable group ¢1 assets that includes the asset and generates cash inflows that largely Independent of the cash inflows from other assets or group5 of a55el5. For Impalrmenl tesllng of goodwill, the goodwill acqulred In a business cornbinallon is, from th8 a¢qu1511ion dale, allocated lo each of the cash-generaling un515 that are expected lo benef51 from the synergies of the combinallon, irrespecllve of whether other assels or liabllllies of Ihe charity are assigned lo those unlls. Deflned contrlbutlon plan8 Conlrlbulions to deflneé conlrSbullon plans are recognlsed as an expense In the perlod In which the related service Is provlded. Prepald conlrlbullons are recognlsed as an asset to the exlenl that the prepayment will lead to a reducllon In future paymanls or a cash refund. Wh8n conlrlbullons are not expected lo be sellled wholly within 12 months of the end of the reporting dale in which the employees render the relaled service, the liability is measured on 8 discounted present value basis. The unwindlng of the discount is recognised as an expense in the period In whlch il arises. Donations and 1ogaGies Unrestricted Total Funds Unreslricteé Total Funés FLsnds 2023 Funds 2022 Donatlons Donations 43,412 43,412 21,451 21,451 10 ROTHERHITHE FREE CHURCH Notes to the Financial Statements fcont/nugdJ Year ended 31 December 2023 Other trading actlvitles Unreslricled Total Funds Unreslricled Totsl Funds Funds 2023 Funds 2022 Rental Irbcome 32.700 32,700 48.875 48,875 Investment Sncom8 Unreslricled Total Funds Unreslricled Total Funds Funds 2023 Funds 2022 Bank interest receivable 2,051 2,051 Cogt8 of ralslng donatlons and legacles Unreslrlcled Total Funds Unreslrlcled Total Funds Funds 2023 FurKIs 2022 Costs of ralslng donallons and legacles Costs of ral$lng donallons and lega¢les 72,694 72,694 54,803 54,803 2,341 986 2,341 986 3,582 265 3.582 265 Costs of ralslng donallon8 and legacles 76,021 76.021 58,650 58,650 Expendlture on Gharltable aGtlvltlg5 by fund type Unreslrsc16d Total Fund8 Unreslflcled Total Funds Funds 2023 Fund5 2022 Support costs 763 763 796 Expendlture on charltable actlvltleg by actlvlty type Total funds 2023 Total fund 2022 Support costs Bank charges Governance co819 135 628 135 628 105 691 763 763 796 11 ROTHERHITHE FREE CHURCH Notes to the Financial Statements (Gontlnygd) Year ended 310ecember 2023 10. Analysls of support costs Analysis of support costs activity 1 Total 2023 Total 2022 Staff costs 39,203 39,203 39,203 11. Net incomg Nel income is slated after chargingllcrediling).. 2023 2022 Depreciation of tangible fixed ass8ls 395 482 12. Independent examlnatlon fees 2023 2022 Fees payable lo the independent examlner for.. Independent examinallon of the flnancl81 statements 450 450 13. Staff costs The lolal staff c051s and employee beneflls for the reportlng poriod are 8nalysed as follows.. 2023 2022 Wage$ and $31ari$s Social security ¢051s Employer contributions lo penslon plans 39,203 39.203 58 2,507 2,121 41,324 41.768 The average head count of èmployees durlng the year was 1 {2022'. 11. No employee received employee benefi18 of more than £60,000 durlng the year12022.' Nill. Key Management Personnel Key management personnel include 311 persons that have authority and responsibility for planning, directing and controlling the activities of Ihe charity. The lolal compensation paid lo key management personnel for services provided lo the charity was £39,20312022-.£39.2031. 12 ROTHERHITHE FREE CHURCH Notes to the Flnancial Statements Iconrinuedl Year ended 31 December 2023 14. Trustee remuneratlon and expenses During the year the charity made the following transactions with Iruslees: The Truslee Pastor Folu Omilaju received remuneration of £39,2031£39,2031. No olh8r person5 connected to the Iruslees have received any reimbursed expenses or any other benefits from th8 charity during the year. 15. Tanglble flxed assèts Flxtures and flttlng8 Cost At 1 January 2023 and 31 December 2023 Depreciation Al 1 January 2023 Charge for the year At 31 December 2023 13,547 11,351 395 11.746 Carrylng amount At 310ecember 2023 1.801 Al 31 December 2022 2,198 16. Credltors,, amounts falllng duo wlthln on• year 2023 2022 Trade ¢r6dilor5 Accrua15 and d6ferred incomè Social security and oih6r taxes 400 570 871 450 450 1,841 17. Pen8lon8 and other post retirement beneflts Deflned contrlbutlon plans The amount recognised in income or expenditure as an expense In rel8tlon lo deflned contribution plans wa8 £2,12112022'. £2.507). 13 ROTHERHITHE FREE CHURCH Notes to the Financial Statements (conllnu9d) Year ended 31 December 2023 18. Analysls of charltable funds Unrestrlcted funds At 31 December 20 23 Al 1 January 2023 Income Expenditure Gen8ral funds 75,376 78.163 176.784) 76,755 At 31 D¢¢embor 20 22 At 1 January 2022 Income Expenditure General funds 64.494 70,328 159,4461 75,376 14