RHEMA CHRISTIAN MINISTRIES
(A company limited by guarantee and not having a share capital)
Annual report and accounts
for the year ended 31[st] December 2023
Charity Nº.:1061736 Registered Nº.:- 3299533
RHEMA CHRISTIAN MINISTRIES
Annual report and accounts for the year ended 31[st] December 2023
| Contents | Page |
|---|---|
| Trustees’ report | 1/3 |
| Independent Examiner’s Report | 4 |
| Balance sheet | 5 |
| Statement of financial activities | 6 |
| Notes to the accounts | 7/9 |
Company information
| Trustees | Miss M A Scott |
|---|---|
| J S Swaby | |
| Secretary | Ms C E Mayhew |
| Registered office | Rhema House |
| 11 Woodside Green | |
| London SE25 5EY | |
| Bankers | NatWest |
| 143 High Street | |
| Bromley | |
| Kent BR1 1YZ | |
| Reporting accountants | Siba and Company |
| Chartered Accountants | |
| 308 High Street | |
| Croydon | |
| Surrey CR0 1NG |
- 1 -
RHEMA CHRISTIAN MINISTRIES
Trustees’ report for the year ended 31[st] December 2023
The Trustees present their Annual Report together with the unaudited accounts of the charity for the year ended 31[st] December 2023, which are also prepared to meet the requirements for a directors’ report and accounts for the purposes of the Companies Act.
Principal activity, objectives and governance
The charity’s principal activity is that of a religious organisation and its objects are the advancement of the Christian faith; the relief of those in need, hardship or distress; the advancement of education for children or adults with emphasis on upholding Christian values but not so as to prevent the provision of general education.
The charity is governed by a Board of Trustees in accordance with the governing document. Trustees meet regularly to discuss and manage the affairs of the Charity. New trustees are appointed to the Board by invitation and undergo an induction process.
The Trustees understand that it is their collective responsibility to:
-
act with personal integrity, avoiding any personal conflicts of interest or misuse of charity funds or assets;
-
ensure the organisation complies with its governing document and all other legislative documents and regulations;
-
ensure the organisation fulfils its objects as defined in its governing document and uses its resources solely for those purposes;
-
safeguard the reputation, vision, integrity and values of the organisation;
-
protect the assets of the charity and take special care when investing its funds or borrowing funds for the charity to use;
-
avoid undertaking any activities that might place the charity’s assets or funds at undue risk.
Public benefit
In planning our activities, Rhema Christian Ministries has considered the Charity Commission's guidance on the provision of public benefit by charities for the advancement of religion. All of the church's activities are designed to further our vision which is to grow deeper in our relationship with God, closer in relationships with one another and extending out into the community.
Activities and review of the year
2023 - “Faith in Action”
“For I was hungry and you gave Me food; I was thirsty and you gave Me drink; I was a stranger and you took Me in; I was naked and you clothed Me; I was sick and you visited Me; I was in prison and you came to Me.’
“Then the righteous will answer Him, saying, ‘Lord, when did we see You hungry and feed You, or thirsty and give You drink? When did we see You a stranger and take You in, or naked and clothe You? Or when did we see You sick, or in prison, and come to You?’ And the King will answer and say to them, ‘Assuredly, I say to you, inasmuch as you did it to one of the least of these My brethren, you did it to Me.” (Matthew 25:35-40)
- 2 -
RHEMA CHRISTIAN MINISTRIES
Trustees’ report for the year ended 31[st] December 2023
Activities and review of the year (continued)
The pandemic increasingly becomes part of our history rather than part of our day to day living and so we were encouraged to see throughout this period the continuing trend of families returning to weekly in-person church services and normal church life overall. We have not yet returned to pre-pandemic levels but we look forward to exceeding that level in 2024. Live streaming of church services continues to be beneficial to those who, for health reasons and vulnerabilities, have been unable to attend in-person.
Commitment to supporting the homelessness charity, Evolve, and the local high school that distributes food hampers at Christmas to vulnerable families, continues.
Following our annual focus on the family events during the month of August the theme and tangible expression of agapè love and unity emerged and is summed up in the scripture from Colossians 3:14 “ Above all, put on love which is the perfect bond of unity.” There is now a greater sense of closeness, brotherly love and care.
We are pleased to report that there has been a major accomplishment for the church, whereby planning consent has been obtained, after a long and arduous journey, to convert the ground floor of Rhema House to a place of worship. This is a major step towards fulfilling a key vision and goal of the church. The Trustees look forward with enthusiasm to the active and strategic implementation of the approved plans.
Rhema has a strong and dedicated team of staff, leadership and volunteers who are all committed to the vision and mission of the church. They all continue to be a tower of strength in providing practical and emotional support to individuals and families within and outside the church community. These families continue to experience hardship but the support provided ranging from food parcels and other essential provisions to creating time and space for valued telephone conversations, particularly with those feeling isolated and/or lonely is making a difference.
The Trustees continue to acknowledge and thank the staff, volunteers, members and congregants in Rhema for all their contributions to the vision and mission of the church. No value can be placed on their faith in action through acts of love, kindness, care, compassion, patience and resilience in spite of the challenging times faced by us all. Collectively, they have made significant contributions of their time, talents and finance to the mission of the church.
Overall, the achievements this year have been really encouraging. There have been optimistic indicators that demonstrate healthy church life and growth.
Risk review
The Trustees carry out periodic reviews of the major risks to which the charity is exposed. Systems and procedures have been established to mitigate those identified so as to minimise any potential impact on the charity.
Financial review
The Statement of Financial Activities on page 6 shows that the result for 2023 is a deficit of £17,252 as compared with the deficit of £15,832 in the previous year. Total charity funds at 31[st] December 2023 were £781,337 (2022 - £798,589).
Reserves policy
The trustees have established a policy of holding reserves sufficient to enable the charity to continue in the event of unforeseen expenditure.
- 3 -
RHEMA CHRISTIAN MINISTRIES
Trustees’ report for the year ended 31[st] December 2023
Affiliation
The charity is not affiliated to any other charity.
Trustees
The Trustees who served during the year were as follows:
J Muir (died on 27[th] January 2023) Miss M A Scott J S Swaby
Statement of Trustees’ responsibilities
The Trustees (who are also the directors of the charity for the purpose of company law) are responsible for preparing the Trustees’ Annual Report and the accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare accounts for each financial year which give a “true and fair” view of the state of affairs of the charitable company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these accounts, the Trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the Charities SORP;
-
make judgements and estimates that are reasonable and prudent;
-
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the accounts, and
-
prepare the accounts on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The above report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.
Approved by the Trustees on 19[th] June 2024 and signed on their behalf by
Miss M A Scott Trustee
- 4 -
RHEMA CHRISTIAN MINISTRIES
Independent Examiner’s Report to the Trustees of Rhema Christian Ministries
I report to the charity Trustees on my examination of the accounts of Rhema Christian Ministries for the year ended 31[st] December 2023.
Responsibilities and basis of report
As the charity’s Trustees (and also directors of the company for the purposes of company law), you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (“the 2006 Act”).
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (“the 2011 Act”). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
Independent examiner’s statement – matter of concern identified
I have completed my examination. I have identified one matter of concern that gives me reasonable cause to believe that the accounts prepared for the Company have not been prepared fully in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities. The Trustees have chosen to protect the confidentiality of the sole employee of the Company by not disclosing staff costs as required by the Statement of Recommended Practice.
I confirm that no other matters have come to my attention in connection with the examination giving me reasonable cause to believe that in any material respect:
-
accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a “true and fair” view which is not a matter considered as part of an independent examination; or
-
except for the matter of concern noted above, the accounts 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 (FRS 102).
I confirm that there are no other matters to which your attention should be drawn to enable a proper understanding of the accounts to be reached.
Miroslav Siba FCA 308 High Street, Surrey CR0 1NG 19[th] June 2024
- 5 -
RHEMA CHRISTIAN MINISTRIES
Balance sheet as at 31[st] December 2023
| Note FIXED ASSETS Tangible assets 4 CURRENT ASSETS Debtors 5 Cash at bank CREDITORS Amounts falling due within one year 6 NET CURRENT ASSETS NET ASSETS UNRESTRICTED FUNDS 8, 9 Building fund Accumulated fund Revaluation reserve TOTAL CHARITY FUNDS |
2023 £ £ 600,000 5,128 179,310 184,438 (3,101) 181,337 £781,337 168,058 244,690 368,589 £781,337 |
2022 £ £ 600,000 5,187 197,187 202,374 (3,785) 198,589 £798,589 180,458 249,542 368,589 £798,589 |
2022 £ £ 600,000 5,187 197,187 202,374 (3,785) 198,589 £798,589 180,458 249,542 368,589 £798,589 |
|---|---|---|---|
£798,589 |
|||
180,458 249,542 368,589 |
|||
£798,589 |
The accounts have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
For the financial year ended 31[st] December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006; and no notice has been deposited under section 476.
The Trustees acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 of the Act and for preparing accounts which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit or loss for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to accounts, so far as applicable to the company.
Approved by the Trustees on 19[th] June 2024 and signed on their behalf by
Miss M A Scott Trustee
- 6 -
RHEMA CHRISTIAN MINISTRIES
Statement of financial activities (including income and expenditure account) for the year ended 31[st] December 2023
| Note | Total Funds | Total Funds | |
|---|---|---|---|
| 2023 | 2022 | ||
| £ | £ | ||
| Income | |||
| Donations | 2 | 65,163 | 72,249 |
| Investment income | 10 | 16 | |
| Total income | £ 65,173 | £ 72,265 | |
| Expenditure | |||
| Expenditure on charitable activities | 82,425 | 88,097 | |
| Total expenditure | £ 82,425 | £ 88,097 | |
| Net expenditure and | |||
| movement in funds for the year | 3 | ( 17,252) | ( 15,832) |
| Reconciliation of funds | |||
| Total funds brought forward | 798,589 | 814,421 | |
| Total funds carried forward | £781,337 | £798,589 |
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure relate to continuing activities.
All funds are unrestricted.
- 7 -
RHEMA CHRISTIAN MINISTRIES
Notes to the accounts for the year ended 31[st] December 2023
1. ACCOUNTING POLICIES
Basis of accounting
The accounts 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 (FRS102) (effective 1[st] January 2019), with FRS102 and with the requirements of the Companies Act 2006.
Donations
Voluntary income is received by way of tithes, offerings and services and is included in full in the accounts when receivable. The value of services provided by volunteers has not been included.
Resources expended
-
Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered and is reported as part of the expenditure to which it relates.
-
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of indirect nature necessary to support them.
Tangible fixed assets
Tangible fixed assets are stated at cost or revaluation less accumulated depreciation. Depreciation is provided at rates calculated to write off the cost of each asset over its expected useful life using the straight-line basis as follows:
Asset category
| Freehold building | 0% |
|---|---|
| Furniture and equipment | 20% |
| Land | 0% |
The charity has adopted the revaluation model to revalue freehold property, the fair value of which can be measured reliably, using market-based evidence.
Revaluations shall be made with sufficient regularity to ensure that the carrying amount does not differ materially from that which would be determined using fair value at the end of the reporting period. Revaluation gains and losses are recognised in the Statement of Financial Activities and added to reserves in a separate Revaluation reserve.
Going concern
The trustees consider that there are no material uncertainties about the ability of Rhema Christian Ministries to continue as a going concern.
Unrestricted funds
Unrestricted funds are donations and other incoming resources receivable or generated for the objects of the charity without further specified purpose and are available as general funds.
- 8 -
RHEMA CHRISTIAN MINISTRIES
Notes to the accounts for the year ended 31[st] December 2023
2. DONATIONS
All donations received in both the current and previous year relate to unrestricted funds.
| 3. NET MOVEMENT IN FUNDS FOR THE YEAR 2023 £ This is stated after charging Independent examiner’s remuneration for the independent examination 1,050 for other services 1,050 4. TANGIBLE FIXED ASSETS Freehold Furniture and properties equipment £ £ Cost or valuation At 1.1.2023 and 31.12.2023 600,000 123,625 Depreciation At 1.1.2023 and 31.12.2023 - 123,625 Net book values At 1.1.2023 and 31.12.2023 600,000 - 5. DEBTORS 2022 £ Income tax recoverable 5,128 Taxation and social security - £5,128 6. CREDITORS:- amounts falling due within one year Trade creditors 288 Other creditors and accruals 2,149 Taxation and social security 664 £3,101 |
2022 £ 1,050 1,050 Total £ 723,625 123,625 £600,000 |
2022 £ 1,050 1,050 Total £ 723,625 |
2022 £ 1,050 1,050 Total £ 723,625 |
2022 £ 1,050 1,050 |
|---|---|---|---|---|
123,625 |
||||
2021 £ 5,128 59 |
||||
| £5,187 | ||||
1,509 2,276 - |
||||
| £3,785 |
- 9 -
RHEMA CHRISTIAN MINISTRIES
Notes to the accounts for the year ended 31[st] December 2023
7. STAFF AND TRUSTEE INFORMATION
The charity trustees were not paid and did not receive any benefits from the charity during the year. No expenses were reimbursed to trustees (2022 - £nil) and no charity trustee received payment for professional or other services supplied to the charity (2022 - £nil). The charity has one full-time employee.
8. REVALUATION RESERVE
The property was valued at the year-end by the Trustees at their estimate of open market value. The property was previously valued during 2016 by commercial estate agents. The original cost of the property was £302,391, and had the property not been revalued, the accumulated depreciation would have been £72,576 and the net book value £229,815. The difference between the revalued amount and the historic cost of the property is transferred to the revaluation reserve.
9. ANALYSIS OF MOVEMENTS IN UNRESTRICTED FUNDS
Current year
| Building Fund Accumulated Fund Revaluation Reserve £ Prior year Building Fund Accumulated Fund Revaluation Reserve £ |
Balance Incoming Resources Balance 1.1.2023 resources expended Transfers 31.12.2023 £ £ £ £ £ 180,458 - - (12,400) 168,058 249,542 65,173 (82,425) 12,400 244,690 368,589 - - - 368,589 |
|---|---|
798,589 65,173 (82,425) - 781,337 |
|
| Balance Incoming Resources Balance 1.1.2022 resources expended Transfers 31.12.2022 £ £ £ £ £ 202,336 - - (21,878) 180,458 243,496 72,265 (88,097) 21,878 249,542 368,589 - - - 368,589 |
|
814,421 72,265 (88,097) - 798,589 |
10. COMPANY STATUS
The charity is a company limited by guarantee. The members of the company are the Trustees named on page 3. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity.