**THE ROCK FOUNDATION Charity No. 294775**
## **TRUSTEES REPORT AND UNAUDITED FINANCIAL STATEMENTS**
**For the year ended 5 April 2022**
## **THE ROCK FOUNDATION**
## **CONTENTS**
||**Page**|
|---|---|
|**Report of the Trustees**|1 to 5|
|**Independent Examiner's Report to the Trustees**|6|
|**Statement of Financial Activities**|7|
|**Balance Sheet**|8|
|**Notes to the Financial Statements**|9 to 13|
## **THE ROCK FOUNDATION**
## **REPORT OF THE TRUSTEES**
## **FOR THE YEAR ENDED 5 APRIL 2022**
Please note that The Rock Foundation does NOT support its details being publicised in Charity guides and will NOT respond to written approaches from sources unknown to the Trustees.
## **REFERENCE AND ADMINISTRATIVE INFORMATION**
The charity was established by a charitable trust settlement dated 25th March 1986 and is registered with the Charity Commissioners as number 294775. The charity deed was updated by agreed Resolution signed 24th September 2020.
For the year in question, the Trustees were as follows:
Richard Borgonon - Founder and Trustee
Jane Borgonon - Trustee Nancy Benham MBE - Trustee Nick Marsh - Trustee Rev David Burt - Trustee
The Bankers for the Foundation are The Royal Bank of Scotland, 5-10 Great Tower Street, London, EC3P 3HX; Charities Aid Foundation (CAF) Bank, 25 Kings Hill Avenue, Kings Hill, West Malling, Kent, ME19 4JQ, and Kingdom Bank, Ruddington Fields Business Park, Mere Way, Ruddington, Nottingham, NG11 6JS.
The Solicitors for the Foundation are rhw Solicitors, Ranger House, Walnut Tree Close, Guildford, Surrey, GU1 4UL.
The Independent Examiner is Heather Cheesman of Chichester Accounting, 104 Stockbridge Road, Chichester, West Sussex, PO19 8QP.
The principal address for the Charity is: The Rock Foundation, Park Green Cottage, Barhatch Road, Cranleigh, Surrey GU6 7DJ
## **STRUCTURE AND GOVERNANCE**
These financial statements represent the 36th year of operation under a declaration of trust established on the 25th March 1986. Founded by Richard and Jane Borgonon, each of the additional Trustees are very well known to the Borgonons through many years of shared Christian service.
The Trustees come from backgrounds in the world of commerce, the charity sector and Christian Ministry, bringing with them complementary and recognised skills. All share a united faith in the Lord Jesus Christ. It is the desire of the Trustees to offer in service their commercial and practical experience to the Christian charitable work in which they become involved, while shunning publicity at all times; making the charity a "behind the scenes" supporter for the majority of its work.
The Trustees review risks and ensure that no ministry or project expansion is started until the funding is available and the known risks can be managed.
Page 1
## **THE ROCK FOUNDATION**
## **REPORT OF THE TRUSTEES**
## **FOR THE YEAR ENDED 5 APRIL 2022**
## **RECRUITMENT AND APPOINTMENT OF TRUSTEES**
The management of the Foundation is the responsibility of the Trustees who are elected for specific terms under the terms of the declaration of Trust.
## **OBJECTIVES AND ACTIVITIES**
The Trustees wish to make clear that they do NOT respond to approaches from sources unknown to them personally.
The objectives of the charity as set out in the governing declaration of trust can be summarised as follows:
a) The administration of any property or estate used or intended for any charitable object institution or work religious or otherwise.
b) The support by contribution, loan, gift, subscription or otherwise of any religious or other charitable institution or work which shall be established or maintained for any of the following purposes : -
i) The furtherance of religious or secular education
- ii) The advancement of tenets of the Christian faith in the United Kingdom or overseas
iii) The relief of the poor and needy
iv) The help and comfort of the sick and aged
c) Generally the advancement of any religious or other charitable object not inconsistent with the foregoing which may from time to time commend itself to the Trustees.
The activities of the charity are set out in more detail under the heading - Financial Review.
In the case of the support for the Cross Connections ministry, an advisory group exists to interrogate the ministry and assist the Trustees in experienced guidance. Both Nancy Benham and Richard Borgonon participate as Trustees within the advisory group.
Through Cross Connections, the charity continues to make several grants each year to cover the costs of religious education.
The Trustees receive regular updates from the various ministries they support detailing the aims and objectives of each. This process continues to be used to measure the effectiveness of the ministries. A failure to report appropriately automatically stops on-going support.
The network of contacts utilised by The Rock Foundation dates back over decades and is based always on known individuals making the measurement of success easily verified, versus a charity that simply sends funds to support essentially directly unknown entities.
## **FINANCIAL REVIEW**
The financial statements for the year ended 5th April 2022 are attached. These statements show how the funds have been applied in the period. The Trustees believe that the Charity is in a satisfactory financial position at the year end and is in a position to meet all its obligations. Details of specific projects are included in the following review. The Trustees confirm that the assets of the Charity are held solely for the charitable objectives set out in this report.
The main risks facing the charity are the raising of funds and donations to continue the operations each year. The charity has no endowment fund but equally does not guarantee on-going support in any way except with regard to the contracts that exist with its own staff, all of whom will have transferred in May 2021 to the new CIO’s mentioned elsewhere. Having been started in 1986, the Trustees use a network of friends and supporters to raise funds for specific ministries without the need to employ general public fund raising.
The specific nature of each Rock Foundation ministry is well known within each circle of operation and greatly reduces any element of the need to manage ongoing risk.
As reported last year, two of the ministries – The WORD One to One and Saffires – were spun off as stand-alone CIO’s during May 2021, with their own boards of Trustees. This is the sole reason for the reduction in the size of The Rock Foundation, having grown these ministries to enable them to stand alone The Rock Foundation no longer needs to raise extra funds to support them.
As has been the case for the past thirty-six years, with no endowment fund, no new project or ministry or staff hiring will be commenced without appropriate funding being specifically raised in advance.
Page 2
## **THE ROCK FOUNDATION**
## **REPORT OF THE TRUSTEES**
## **FOR THE YEAR ENDED 5 APRIL 2022**
## **PUBLIC BENEFIT**
The benefit of the Trust’s work is the delivery of support to Christian ministries around the world, to further the religious or secular education. The work supported during the period is set out in detail later in this report. In pursuing the objectives of the Charity, the Trustees have referred to the Charity Commission's guidance on Public Benefit.
## **RESERVES POLICY**
This Charity does not require specific reserves. Throughout its history, the Charity has shared any ongoing ministry commitments (absolutely minimal) with a well-established network of private individual and charitable trust connections with whom it maintains a constant dialogue through the various ministries concerned.
## **RISK ASSESSMENT**
The Trustees have carried out a review of the potential risks of the Charity and believe that there are satisfactory systems in place to identify and mitigate any material exposure. The risk exposure is viewed by the Trustees as being very low.
## **ACHIEVEMENTS AND PERFORMANCE/AN OVERVIEW OF THE FINANCIAL YEAR**
The activities of the Charity continue to reflect a consistent application of our clearly identified Christian objectives. This period has continued our policy of specific activity focussed on Christian ministries, reflecting the key interests established by the Foundation and its supporters over the past 36 years.
Since its formation in 1986, the Rock Foundation has sought to support charitable undertakings which are built upon a clear Biblical basis and which, in many instances, receive little or no publicity.
It has never been the intention of the Foundation to support a widespread portfolio of charitable enterprise, but rather to specifically research and then strongly invest time and money in the work of a few selected Christian ministries.
As expressed above, the financial statements reflect specific areas of financial support from the Foundation. These are now explained in no order of priority:
## **THE WORD One to One**
In a world of growing Biblical ignorance, we have seen a marked increase in the global hunger to understand exactly what the Bible has to say, and its potential relevance to all levels of society today. THE WORD One to One is a resource that allows people to explore the Christian message by clearly explaining the Gospel of John and now the book of Acts. It has been extremely well received and is rapidly spreading to countries around the world, reaching across cultures, ages and economic levels of society. More can be gleaned from the website www.theword121.com Speakers, including Richard Borgonon, are sought after; both in the UK and overseas.
As stated elsewhere, this ministry became a stand-alone CIO as from May 2021 but will continue to receive support from The Rock Foundation.
Page 3
## **THE ROCK FOUNDATION**
## **REPORT OF THE TRUSTEES**
## **FOR THE YEAR ENDED 5 APRIL 2022**
## **CROSS CONNECTIONS**
Now in operation for some 26 years, Cross Connections targets “front line" Bible based ministries personally known to the Trustees and its network of connections. Today in excess of forty well researched ministries are within the Cross Connection network. Many of these ministries have been started by ex-students of the CORNHILL TRAINING PROGRAMMES run by PROCLAMATION TRUST. The website is: www.crossconnections.org.uk
Examples of ministries supported include: support for Bursaries enabling participation by poor students from overseas in the CORNHILL programme of events; continued support for Bible teaching ministries in South Africa, Kenya, Ghana, Zimbabwe, Brazil, Sierra Leone, Philippines, Uganda, Cuba, Nigeria, Pakistan and Latvia. The charity Crosslinks is sometimes used as a means of support to the relevant ministries.
## **Professor John Lennox - Christian Author and Speaker**
Professor Lennox of Green College Oxford, is a much sought after Christian public speaker, broadcaster and author, globally well-known and renowned for his ability to "bring the Bible alive". The Rock Foundation has for nearly 30 years supported his ministry by way of practical assistance with some of the ministry costs.
## **Vijay Menon Ministry - A Ministry of the Rock Foundation**
Having now completed over 34 years of service with The Rock Foundation, at 92 Vijay Menon continues to represent a unique ministry built around being a Christian evangelist and teacher very well known in this country and certain countries abroad. A popular speaker for more than three decades, Vijay's full-time ministry commenced through The Rock Foundation in 1988 with speaking engagements ranging from universities, schools, colleges and churches to conferences. His extraordinary story of conversion from Hinduism to Christianity can be read in his book "Found by God". This much reduced ministry continues to be funded by Trustee designation from a core group of supporters.
## **Saffires - A Ministry of the Rock Foundation**
Saffires is a Christian ministry which has been reaching out to women working in the sex industry in Leicester since 2015. Saffires hopes to offer women practical support with the challenges they face in day to day life, as well as providing opportunity to investigate the Christian faith.
In May 2021 Saffires becomes a stand-alone registered CIO charity run entirely independently of the Rock Foundation.
## **Rock Foundation - Personal and Specific Ministry Support**
Besides the major funding initiatives so far set out, the accounts reflect support for other personal Christian ministries known to the Trustees or their contacts, as well as support for other charitable institutions. The binding factor for all these ministries is that they represent a dedication to the furtherance of the Gospel tenets of Jesus Christ.
In addition, the Rock Foundation continues to make much smaller donations to well-known registered charities and, in the occasional instance, gifts to the poor and needy known personally to the Trustees.
Again, we must stress that Charities and individuals are wasting their resources by writing to the Foundation. We have a major existing network of ministry connections and will not respond to unsolicited approaches.
## **PLANS FOR FUTURE PERIODS**
The future plans for the next twelve months remain the same without the ministry of Saffires but with ongoing support being given to THE WORD One to One as a stand -alone charity. Funds will continue to be raised in order to offer grants for various education opportunities and charitable undertakings.
Page 4
## **THE ROCK FOUNDATION**
## **REPORT OF THE TRUSTEES**
## **FOR THE YEAR ENDED 5 APRIL 2022**
## **STATEMENT OF TRUSTEES' RESPONSIBILITIES**
The purpose of this statement is to distinguish the Trustees' responsibilities for the financial statements from those of the Independent Examiner's, as stated in her report.
The Trustees are responsible for preparing the Trustees report and financial statements in accordance with applicable law and United Kingdom Accounting Standards.
Charity 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 charity and of incoming resources and application of resources for that period. In preparing the financial statements, the Trustees are required to:
- Select suitable accounting policies and then apply then consistently
- Observe the methods and principles of the Charities SORP
- Make judgements and estimates that are reasonable and prudent
- State whether applicable accounting standards have been followed, subject to any departures disclosed and
- explained in the financial statements: and;
- prepare the financial statements on the going concern basis unless it is inappropriate to assume that the charity will
- - continue in business.
The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy the financial position of the charity, and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) regulations 2008 and the provisions of the Trust Deed. They are also responsible for safeguarding the assets of the charity and for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The Trustees are responsible for the maintenance and integrity of the charity.
This report was approved by the Board of Trustees and signed on their behalf by:
**Richard Borgonon** Chairman of Trustees
Date: 1st June 2021
Page 5
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES**
## **ON THE UNAUDITED ACCOUNTS OF**
## **THE ROCK FOUNDATION**
I report on the financial statements of the charity for the year ended 5 April 2021 which are set out on pages 7 to 13.
This report is made solely to the Trustee, as a body, in accordance with section 145 of the Charities Act 2011 and regulations made under section 154 of that Act. My work has been undertaken so that I might state to the Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Trustees as a body, for my work or for this report.
## **Respective Responsibilities of Trustees and Examiner**
The charity’s Trustees are responsible for the preparation of the financial statements. 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.
It is my responsibility to:
- examine the financial statements (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
- 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 accounting records kept by the charity and a comparison of the financial statements presented with those records. It also includes considerations of any unusual items or disclosures in the financial statements, and the seeking of 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 no opinion is given as to whether the financial statements 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 s130 of the 2011 Act; and
• to prepare financial statements which agree with the accounting records and to comply with the accounting requirements of the 2011 Act
have not been met; or
2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached.
**H Cheesman FCA Chartered Accountant 104 Stockbridge Road Chichester West Sussex PO19 8QP**
**Date: 1st June 2022**
Page 6
## **THE ROCK FOUNDATION**
## **STATEMENT OF FINANCIAL ACTIVITIES**
## **FOR THE YEAR ENDED 5 APRIL 2022**
**----- Start of picture text -----**
Restricted Unrestricted Total Total
Fund Fund Funds Funds
2022 2022 2022 2021
Notes £ £ £ £
INCOMING RESOURCES
Income and endowments from
Donations and legacies 2 213,354 237,178 450,532 652,393
Investment income - - - 107
TOTAL 213,354 237,178 450,532 652,500
RESOURCES EXPENDED
Charitable activities 3, 4, 5 and 6 254,568 317,350 571,918 573,304
Governance Costs 3 and 6 750 250 1,000 1,000
TOTAL 255,318 317,600 572,918 573,304
NET INCOME/(EXPENDITURE) (41,964) (80,422) (122,386) 78,196
Transfers between funds 6,512 (6,512) - -
Reconciliation of Funds 9 (35,452) (86,934) (122,386) 78,196
Fund balance brought forward 230,695 211,675 442,370 364,174
FUND BALANCE CARRIED FORWARD 195,243 124,741 319,984 442,370
**----- End of picture text -----**
The annexed notes form an integral part of these financial statements. All amounts derive from continuing activities.
All gains and losses recognised in the year are included in the Statement of Financial Activities.
Page 7
## **THE ROCK FOUNDATION**
## **BALANCE SHEET**
## **AS AT 5 APRIL 2022**
|**Notes**
**Current assets**
Debtors
**7**
Cash at bank and on deposit
**8**
**Net current assets**
**Net assets**
**Funds**
Balance brought forward
Net movement for the year
**Balance carried forward**
**Creditors: amounts falling due**
**within one year**|**Restricted**
**Funds**
**2022**
**£**
**23,796**
**171,447**
**195,243**
**-**
**195,243**
**195,243**
**230,695**
**(35,452)**
**195,243**|**Unrestricted**
**Funds**
**2022**
**£**
**22,390**
**102,351**
**124,741**
**-**
**124,741**
**124,741**
**211,675**
**(86,934)**
**124,741**|**Total**
**Funds**
**2022**
**£**
**46,186**
**273,798**
**319,984**
**-**
**319,984**
**319,984**
**442,370**
**(122,386)**
**319,984**|Total
Funds
2021
£
7,759
445,611
453,370
(11,000)
442,370
442,370
364,174
78,196
442,370|
|---|---|---|---|---|
The financial statements were approved by the Trustees on 1st June 2022 and signed on their behalf by:
RICHARD BORGONON Trustee
The annexed notes form an integral part of these financial statements.
Page 8
**THE ROCK FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 5 APRIL 2022**
## **1 Principal accounting policies**
These financial statements have been prepared under the historical cost convention and the principal accounting policies as set out below and in accordance with the Statement of Recommended Practice (SORP) Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011. The charity is a public benefit entity.
The financial statements have been prepared to give a 'true and fair view' and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair view'. This departure has involved following the Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accouts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1April 2005 which has since been withdrawn
a. Incoming resources are accounted for as follows:
- Donations are brought into account when receivable.
- All other income is brought into account on the accruals basis.
b. Amounts received under gift aid are brought into account when receivable, together with the attributable income tax.
c. All expenditure is accounted for on an accruals basis.
d. Resources expended are classified under the relevant headings on the Statement of Financial Activities in accordance with the Statement of Recommended Practice as follows-
Direct charitable expenditure includes the direct costs of the activities and depreciation on related assets. Grants payable are recognised as expenditure on an accruals basis.
Support costs comprise service costs incurred centrally in support of the project work.
e.
Equipment costing more than £100 is capitalised and included at cost including any incidental expenses of acquisition.
## Fund accounting-
i) Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is charged to the fund, together with a fair allocation of costs.
ii) All other funds are unrestricted income funds. The trustees intend to use part of the unrestricted funds for the support of Dr John Lennox and VJ Menon and have set up designated funds to reflect this.
g. Debtors and creditors receivable or payable within one year are recorded when the legal obligation arises.
h.
Cash at bank and on deposit is held to meet the short-term cash commitments as they fall due. All donations are available as grants so considered to be required in the short term.
In preparing the accounts, the trustees have considered whether in applying the accounting policies required the FRS 102 and the Charities SORP FRS 102 restatement of comparative items was needed. No restatements were required.
## **2 Donations and legacies**
**----- Start of picture text -----**
||||||||
|---|---|---|---|---|---|---|
|Restricted|Unrestricted|Restricted|Unrestricted|
|Fund|Fund|Total 2022|Fund|Fund|Total 2021|
|£|£|£|£|£|£|
|Donations|213,354|237,178|450,532|215,468|436,925|652,393|
**----- End of picture text -----**
Page 9
**THE ROCK FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 5 APRIL 2022**
|**3**
**Analysis of total resources expended**
**Restricted**
**Unrestricted**
**Fund**
**Fund**
**£**
**£**
**Charitable activities**
Grants paid
**237,110**
**253,665**
Charitable activities
**17,458**
**63,685**
Governance costs
**750**
**250**
**Total**
**255,318**
**317,600**
**4**
**Grants paid**
**2022**
**Number**
**Restricted funds**
Payable to individuals - ministry activities
**7**
Payable to institutions
**22**
**Unrestricted funds**
Payable to individuals - ministry activities
**82**
Payable to institutions
**23**
**134**
The following grants were made amounting to £5,000 and above
Anglican Dioceses of JOS
Baltic Reformed Theological Seminary
CEP
Cranleigh Baptist Church
Escale
Friends of JBC
Habakkuk in Mission
I Serve Africa (Ghana) Trust
Ian Knox appeal
Institute of Bible Teaching
Lahore Evangelical Ministries
Melville Union Church
Predica Fiel
Professor John Lennox Ministry
Proclamation Trust
Reformed Gospel Commission
Relite Africa Trust
Saffires
Servants of the Word
St Helen's Partnership
Trinity College
Word Increases Ministry Rwanda
Word One to One
Donations under £5,000|**Total 2022**
**£**
**490,775**
**81,143**
**1,000**
**572,918**
**2022**
**£**
**7,822**
**229,288**
**11,799**
**241,866**
**490,775**
**2022**
**£**
**-**
**5,000**
**7,000**
**9,876**
**26,125**
**11,250**
**9,000**
**6,250**
**7,300**
**6,250**
**17,500**
**-**
**12,500**
**34,585**
**29,540**
**12,000**
**7,500**
**40,902**
**6,250**
**10,938**
**15,625**
**7,500**
**123,787**
**84,097**
**490,775**|Restricted
Fund
£
140,694
50,615
250
191,559|Unrestricted
Fund
£
120,520
261,475
750
382,745
2021
Number
3
7
3
18
31|Total 2021
£
261,214
312,090
1,000
574,304
2021
£
7,822
132,872
11,799
108,721
261,214
2021
£
31,207
-
6,000
-
11,250
11,875
-
5,000
5,000
11,000
10,000
9,750
14,165
-
12,450
-
5,000
6,000
11,450
50,000
61,067
261,214|
|---|---|---|---|---|
Page 10
**THE ROCK FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 5 APRIL 2022**
## **5 Charitable activities**
|Salaries
Charity costs
**6**
**Governance costs**
Independent Examiner's fee
**7**
**Debtors**
Gift aid income tax recoverable
**8**
**Creditors and receipts in advance**
Deferred income
Accruals and other creditors
**9**
**Restricted funds: movement in year**
**Restricted funds:**
Cross Connections Restricted Fund
Cornhill
Resourcing Trainers Cross Connections
CORNHILL 2021 2022 BURSARIES
Saffires
Lennox Ministry
D & H Jackman Ministry
P Baxter Ministry
VJ Menon Ministry
P & L Carter Ministry
Borgonon Ministry Fund
G Marsh Ministry
Staff costs|**Restricted**
**Unrestricted**
**Fund**
**Fund**
**£**
**£**
**12,577**
**-**
**4,881**
**63,685**
**17,458**
**63,685**
**Restricted**
**Unrestricted**
**Fund**
**Fund**
**£**
**£**
**750**
**250**
**750**
**250**
**Restricted**
**Unrestricted**
**Fund**
**Fund**
**£**
**£**
**23,796**
**22,390**
**23,796**
**22,390**
**Restricted**
**Unrestricted**
**Fund**
**Fund**
**£**
**£**
**-**
**-**
**750**
**250**
**750**
**250**
**Balance at**
**5 April 2021**
£
1,545
9,700
7,000
31,399
41,290
88,530
2,029
15,956
7,733
293
19,865
1,558
3,797
230,695|**Total 2022**
**£**
**12,577**
**68,566**
**81,143**
**Total 2022**
**£**
**1,000**
**1,000**
**Total 2022**
**£**
**46,186**
**46,186**
**Total 2022**
**£**
**-**
**1,000**
**1,000**
**Income**
**£**
**2,625**
**-**
**-**
**23,475**
**4,517**
**15,257**
**-**
**-**
**15,250**
**2,931**
**144,199**
**5,100**
**213,354**|Restricted
Fund
£
40,275
10,340
50,615
Restricted
Fund
£
750
750
Restricted
Fund
£
980
980
Restricted
Fund
£
10,000
250
10,250
**Expenses**
**£**
**1,146**
**4,232**
**-**
**42,540**
**45,472**
**28,287**
**1,575**
**-**
**12,727**
**2,900**
**110,886**
**4,483**
**1,070**
**255,318**|Unrestricted
Fund
Total 2021
£
£
161,703
201,978
99,772
110,112
261,475
312,090
Unrestricted
Fund
Total 2021
£
£
250
1,000
250
1,000
Unrestricted
Fund
Total 2021
£
£
6,779
7,759
6,779
7,759
Unrestricted
Fund
Total 2021
£
£
-
10,000
750
1,000
750
11,000
**Balance at**
**Transfers**
**5 April 2022**
**£**
**£**
**600**
**3,624**
**(5,468)**
**-**
**7,000**
**14,000**
**5,468**
**17,802**
**-**
**335**
**(1,000)**
**74,500**
**-**
**454**
**-**
**15,956**
**650**
**10,906**
**587**
**911**
**(1,325)**
**51,853**
**-**
**2,175**
**-**
**2,727**
**6,512**
**195,243**|
|---|---|---|---|---|
Page 11
**THE ROCK FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 5 APRIL 2022**
|Restricted funds:
Cross Connections Fund
Cornhill
Resourcing Trainers Cross Connections
CORNHILL 2021 2022 BURSARIES
Saffires
HTC Zimbabwe
Lennox Ministry
D & H Jackman Ministry
P Baxter
VJ Menon Ministry
P & L Carter
Borgonon Ministry Fund
G Marsh
The Word 1-2-1
Staff costs|Balance at
5 April 2020
£
1,545
20,460
-
-
27,189
363
61,053
3,279
29,701
7,516
475
36,932
(2,642)
-
7,204
193,075|Income
£
-
19,388
-
-
47,153
1,300
42,642
-
-
7,800
2,785
90,210
4,200
-
-
215,478|Expenses
£
-
6,450
-
-
33,052
1,663
15,165
1,250
13,745
12,683
3,000
101,144
-
-
3,407
191,559|Transfers
£
-
(23,698)
7,000
31,399
-
-
-
-
-
5,100
33
(6,133)
-
-
-
13,701|Balance at
5 April 2021
£
1,545
9,700
7,000
31,399
41,290
-
88,530
2,029
15,956
7,733
293
19,865
1,558
-
3,797
230,695|
|---|---|---|---|---|---|
The Cross Connections fund has arisen from the receipt of restricted donations to the charity to support various worldwide start up bible based ministries.
The Saffires fund has arisen from receipt of restricted donations to the charity to support the ministry working with women in prostitution in Leicester to provide a chaplaincy-style service as well as practical support towards exiting prostitution.
The Word One to One fund has arisen from receipt of restricted donations to the charity to support the ministry of distributing booklets around the world which enable Christians to read the Bible with their friends, and provide training in how to use the books.
The charity has sufficient liquid assets to support these projects.
Lennox fund represents income set aside to help Professor John Lennox continue his work as a leading Christian author and speaker.
The VJ Menon fund is allocated by the Trustees for the support of Vijay Menon in his ministerial duties.
The Borgonon fund is allocated by the trustees to support specific ministries.
## **10 Unrestricted funds: movement in year**
|**Balance at**
**5 April 2021**
**Designated funds:**
£
Cross Connections Fund
90,309
Cross Connections - Ministry allocation
5,148
Cross Connections - Matched Funding
10,667
The Word 1-2-1
105,407
Ukraine Malenky Project
-
**General funds**
144
211,675|**Income**
**£**
**169,450**
**19,425**
**-**
**16,347**
**18,829**
**13,127**
**237,178**|**Expenses**
**£**
**8,268**
**169,847**
**-**
**121,427**
**6,200**
**11,858**
**317,600**|**Balance at**
**Transfers**
**5 April 2022**
**£**
**£**
**(163,907)**
**87,584**
**166,974**
**21,700**
**(10,667)**
**-**
**-**
**327**
**88**
**12,717**
**1,000**
**2,413**
**(6,512)**
**124,741**|
|---|---|---|---|
Page 12
**THE ROCK FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 5 APRIL 2022**
|Designated funds:
Lennox Fund
Cross Connections Fund
Cross Connections - Ministry allocation
Cross Connections - Matched Funding
The Word 1-2-1
**General funds**|Balance at
5 April 2020
£
-
80,623
10,162
18,302
60,424
1,588
171,099|Income
£
**-**
**126,581**
**4,980**
**-**
**301,177**
**4,284**
437,022|Expenses
£
**-**
**8,679**
**112,519**
**-**
**256,944**
**4,603**
382,745|Transfers
£
**-**
**(108,216)**
**102,525**
**(7,635)**
**750**
**(1,125)**
(13,701)|Balance at
5 April 2021
£
-
90,309
5,148
10,667
105,407
144
211,675|
|---|---|---|---|---|---|
The unrestricted funds of the charity may be applied for any charitable purpose at the discretion of the Trustees.
## **11 Taxation**
The Trust is a registered charity (number 294775) and is exempt from direct taxation under Section 505 of the Income and Corporation Taxes Act 1988.
## **12 Employee information**
|a. The average number employed by the Charity was:
Full time
b. The costs incurred in respect of these employee were:
Salaries and NI
Pension|**2022**
**1**
**1**
**2022**
**£**
**12,577**
**-**
**2,413**|2021
6
6
2021
£
189,646
12,332
201,978|
|---|---|---|
No employees were paid more than £60,000 per annum.
Trustees receive no emoluments, remuneration or retirement benefits.
As in prior years, no Trustee claimed reimbursement for any personal costs, no trustees received reimbursements this year for costs directly relating to the work of the charity (2021: £117)
## **13 Analysis of Net Assets by Fund**
|**Asset Category**
**Debtors**
**Cash**
**Creditors**|**Unrestricted**
**Funds**
**1,125**
**1,288**
**-**
**2,413**|**Designated**
**Funds**
**22,671**
**170,159**
**-**
**192,830**|**Restricted**
**Funds**
**22,390**
**102,351**
**-**
**124,741**|**Total**
**2022**
**46,186**
**273,798**
**-**
**319,984**|Total
2021
7,759
445,611
(11,000)
**442,370**|
|---|---|---|---|---|---|
Page 13