OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2023-04-05-accounts

THE ROCK FOUNDATION Charity No. 294775

TRUSTEES REPORT AND UNAUDITED FINANCIAL STATEMENTS

For the year ended 5 April 2023

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 2023

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 - Founder and 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 2023

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:

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 2023 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 able 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. 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 public fund raising. This is borne out by the fact that, during the period in question, a wealthy individual known to certain of the Trustees has decided to support the Foundation with a substantial one-off gift, following a smaller level of involvement with our work over the past three years.

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 has been the case for the past thirty-seven years, no new project or ministry or staff hiring will be commenced without appropriate funding being specifically raised in advance.

In the year ended 5[th] April 2023 The Foundation received donations of £674,698 (2022: £450,532),and made grants amounting to £330,876 (2022: 571,918). At the year end, the Foundation held reserves of £662,806 (2022: £319,984), mainly represented by cash held to make future grants.

Page 2

THE ROCK FOUNDATION

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 5 APRIL 2023

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 37 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. This increase has been most marked since the pandemic. 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 over 80 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.

This ministry, first started by The Rock Foundation, became a stand-alone CIO as from May 2021 and will continue to receive major support from the Foundation.

Page 3

THE ROCK FOUNDATION

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 5 APRIL 2023

CROSS CONNECTIONS

Now in operation for some 27 years, CROSS CONNECTIONS targets “front line" bible-based ministries personally known to the Trustees and its network of connections. Today approximately 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. This ministry is a perfect fit for the aims of the Foundation and will continue to represent a major area of support.

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 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 35 years of service with The Rock Foundation. 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". His current much reduced and very personal ministry continues to be funded by Trustee designation from a core group of supporters.

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 with ongoing support being given to THE WORD One to One as a stand - alone charity and to our leadership of the Cross Connections Ministry. 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 2023

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:

prepare the financial statements on the going concern basis unless it is inappropriate to assume that the charity

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: 8th August 2023

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 2023 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 Responsibilitiesof 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

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.

IndependentExaminer'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

Page 6

Date: 28th July 2023

THE ROCK FOUNDATION

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 5 APRIL 2023

Restricted
Fund
2023
Notes
£
INCOMING RESOURCES
Income and endowments from
Donations and legacies
2
215,018
TOTAL
215,018
RESOURCES EXPENDED
Charitable activities
3, 4, 5 and 6
191,816
3 and 6
750
TOTAL
192,566
NET INCOME/(EXPENDITURE)
22,452
Transfers between funds
93,736
Reconciliation of Funds
9
116,188
195,243
FUND BALANCE CARRIED FORWARD
311,431
Governance Costs
Fund balance brought forward		 Unrestricted
Fund
2023
£
459,680
459,680
139,060
250
139,310
320,370
(93,736)
226,634
124,741
351,375		 Total
Funds
2023
£
674,698
674,698
330,876
1,000
331,876
342,822
-
342,822
319,984
662,806		 Total
Funds
2022
£
450,532
450,532
571,918
1,000
572,918
(122,386)
-
(122,386)
442,370
319,984

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 2023

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
2023
£
89,174
223,007
312,181
(750)
311,431
311,431
195,243
116,188
311,431		 Unrestricted
Funds
2023
£
3,962
347,663
351,625
(250)
351,375
351,375
124,741
226,634
351,375		 Total
Funds
2023
£
93,136
570,670
663,806
(1,000)
662,806
662,806
319,984
342,822
662,806		 Total
Funds
2022
£
46,186
273,798
319,984
-
319,984
319,984
442,370
(122,386)
319,984

The financial statements were approved by the Trustees on 8th August 2023 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 2023

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

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

Restricted Unrestricted Restricted Unrestricted
Fund Fund Total 2023 Fund Fund Total 2022
£ £ £ £ £ £
Donations 215,018 459,680 674,698 213,354 237,178 450,532

Page 9

THE ROCK FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2023

3
Analysis of total resources expended
Restricted
Unrestricted
Fund
Fund
£
£
Charitable activities
Grants paid
173,526
121,121
Charitable activities
18,290
17,939
Governance costs
750
250
Total
192,566
139,310
4
Grants paid
2023
Number
Restricted funds
Payable to individuals - ministry activities
41
Payable to institutions
11
Unrestricted funds
Payable to individuals - ministry activities
4
Payable to institutions
20
76
The following grants were made amounting to £5,000 and above
Baltic Reformed Theological Seminary
Centro de Estudios Pastorales, Chile
Cranleigh Baptist Church
Escale
Friends of Johannesburg Bible College
Habakkuk in Mission
I Serve Africa (Ghana) Trust
Ian Knox appeal
Institute of Bible Teaching
Lahore Evangelical Ministries
Malenky Project Ukraine
Aukland Evangelical Church
Predica Fiel Ministry
Professor John Lennox Ministry
Proclamation Trust
Reformed Gospel Mission
Relite Africa Trust
Saffires
Servants of the Word
Southern Baptist Theological Seminary
St Helen's Partnership
Trinity Bible College
Word Increases Ministry Rwanda
Word One to One
Donations under £5,000		 Total 2023
£
294,647
36,229
1,000
331,876
2023
£
77,086
96,440
6,221
114,900
294,647
2023
£
5,000
6,000
9,250
10,875
-
6,000
-
-
5,000
10,500
22,412
12,705
12,500
35,864
-
12,000
-
-
-
6,032
-
9,375
-
8,951
122,183
294,647		 Restricted
Fund
£
237,110
17,458
750
255,318		 Unrestricted
Fund
£
253,665
63,685
250
317,600
2022
Number
7
22
82
23
134		 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

Page 10

THE ROCK FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2023

5
Charitable activities
Restricted
Unrestricted
Fund
Fund
£
£
Salaries
12,365
-
Charity costs
5,925
17,939
18,290
17,939
6
Governance costs
Restricted
Unrestricted
Fund
Fund
£
£
Independent Examiner's fee
750
250
750
250
7
Debtors
Restricted
Unrestricted
Fund
Fund
£
£
Gift aid income tax recoverable
89,174
3,962
89,174
3,962
8
Creditors and receipts in advance
Restricted
Unrestricted
Fund
Fund
£
£
Deferred income
-
-
Accruals and other creditors
750
250
750
250
9
Restricted funds: movement in year
Balance at
5 April 2022
Restricted funds:
£
Greek Delegates Fund
3,624
Cornhill Library
-
Cross Connections
14,000
Cornhill Bursaries
17,802
Saffires
335
Lennox Ministry
74,500
D & H Jackman Ministry
454
P Baxter Ministry
15,956
VJ Menon Ministry
10,906
P & L Carter Ministry
911
Borgonon Ministry Fund
51,853
G Marsh Ministry
2,175
Psalm 50 Ministries
-
Ukraine Malenky Project
Staff costs
2,727
195,243		 Total 2023
£
12,365
23,864
36,229
Total 2023
£
1,000
1,000
Total 2023
£
93,136
93,136
Total 2023
£
-
1,000
1,000
Income
£
2,550
1,250
-
8,785
-
9,196
-
-
7,450
2,297
141,729
4,500
10,500
26,761
-
215,018		 Restricted
Fund
£
12,577
4,881
17,458
Restricted
Fund
£
750
750
Restricted
Fund
£
23,796
23,796
Restricted
Fund
£
10,000
250
10,250
Expenses
£
2,973
-
785
54,668
335
35,864
-
15,956
12,365
2,700
29,918
5,725
6,132
22,418
2,727
192,566		 Unrestricted
Fund
Total 2022
£
£
-
12,577
63,685
68,566
63,685
81,143
Unrestricted
Fund
Total 2022
£
£
250
1,000
250
1,000
Unrestricted
Fund
Total 2022
£
£
22,390
46,186
22,390
46,186
Unrestricted
Fund
Total 2022
£
£
-
10,000
750
1,000
750
11,000
Balance at
Transfers 5 April 2023
£
£
-
3,201
-
1,250
46,318
59,533
35,902
7,821
-
-
(1,000)
46,832
-
454
-
-
50
6,041
16
524
(492)
163,172
-
950
-
4,368
12,942
17,285
-
-
93,736
311,431		 Total 2022
£
12,577
68,566
81,143
Total 2022
£
1,000
1,000
Total 2022
£
46,186
46,186
Total 2022
£
10,000
1,000
11,000
311,431

Page 11

THE ROCK FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2023

Restricted funds:
Greek Delegates Fund
Cornhill
Cross Connections
Cornhill 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 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		 Income
£
2,625
-
-
23,475
4,517
-
15,257
-
-
15,250
2,931
144,199
5,100
-
-
213,354		 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		 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		 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
195,243

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 was created 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. It has now ceased to be involved via the Foundation.

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. It has now ceased to be a ministry under the Foundation and has become a stand-alone charity that we financially support.

The charity had 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 2022
Designated funds:
£
Cross Connections Fund
87,584
Cross Connections - Ministry allocation
21,700
The Word 1-2-1
327
Ukraine Malenky Project
12,717
General funds
2,413
124,741		 Income
£
103,178
50
-
356,452
459,680		 Expenses
£
15,393
114,900
327
8,690
139,310		 Balance at
Transfers 5 April 2023
£
£
(175,369)
-
93,150
-
-
-
(12,717)
-
1,200
351,375
(93,736)
351,375		 Balance at
Transfers 5 April 2023
£
£
(175,369)
-
93,150
-
-
-
(12,717)
-
1,200
351,375
(93,736)
351,375
351,375

Page 12

THE ROCK FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2023

Designated funds:
Lennox Fund
Cross Connections Fund
Cross Connections - Ministry allocation
Cross Connections - Matched Funding
The Word 1-2-1
Ukraine Malenky Project
General funds		 Balance at
5 April 2021
£
-
90,309
5,148
10,667
105,407
-
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		 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
124,741

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		 2023
1
1
2023
£
12,365
-
12,365		 2022
1
1
2022
£
12,577
-
12,577

This is a retirement salary and related tax for a former member of staff.

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 for trustee meetings (2022: Nil)

13 Analysis of Net Assets by Fund

Asset Category
Debtors
Cash
Creditors		 Unrestricted
Funds
-
351,625
(250)
351,375		 Designated
Funds
-
-
-
-		 Restricted
Funds
89,174
223,007
(750)
311,431		 Total
2023
89,174
574,632
(1,000)
662,806		 Total
2022
46,186
273,798
-
319,984

Page 13