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2020-12-31-accounts

Charity number: 1084575

REDEEMED CHRISTIAN CHURCH OF GOD -THE PLACE OF RESTORATION

UNAUDITED

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2020

REDEEMED CHRISTIAN CHURCH OF GOD -THE PLACE OF RESTORATION

CONTENTS
Page
Reference and administrative details of the Charity, its Trustees and advisers 1
Trustees' report 2 - 6
Independent examiner's report 7
Statement of financial activities 8
Balance sheet 9
Statement of cash flows 10
Notes to the financial statements 11 - 25

REDEEMED CHRISTIAN CHURCH OF GOD -THE PLACE OF RESTORATION

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2020

General Overseer Pastor E A Adeboye

Trustees Dr F B Idowu (Deceased 21 July 2021)
Mr O Olatunbosun
Mr A A Ojo
Dr A Obisesan
Ms S Onibuje
Minister In Charge Pastor A A Ojo
Charity registered
number
1084575
Principal office
46 Hollywood Way
Erith
Kent
DA8 2QE
Accountants
AdeKay & Co Limited
Chartered Certified Accountants
6 Medcalf Road
Enfield
EN3 6HL
Bankers
Barclays Bank Plc
737 Barking Road
Plaistow
London
E13 9PL

Page 1

REDEEMED CHRISTIAN CHURCH OF GOD -THE PLACE OF RESTORATION

TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2020

The Trustee present their annual report together with the financial statements of Redeemed Christian Church of God ('RCCG') Place of Restoration (the charity) for the year ended 31 December 2019. The Trustees confirm that the annual report and financial statements of the charity have been prepared in accordance with the accounting policies set out in note 2 to the accounts and comply with the charity's trust deed, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommend Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) ( effective 1January 2019).

Objectives and activities

a. Policies and objectives

The objects of the Charity are:

Our primary objective is to seek the advancement of Christian religion in accordance with preaching of the faith of the early Apostles and wherever possible, educate people using the word of God as our guide. We aim to establish and manage schools, Bible schools, vocational Bible schools, correspondence courses, and to teach religious knowledge in schools, institutions and the wider community.

In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.

b. Strategies for achieving objectives

The church has adopted the following strategies for achieving the above objectives:

c. Public Benefit Statement

The Board of Trustees confirm that they have met their duties in strict compliance with the provisions of section 4 and 17 of the Charities Act 2011, and have due regards to the Charity Commission’s general guidance on public benefit. Particular consideration has been given to the Charity Commission's supplementary public guidance provisions on the advancement of religion for public benefit

d. Volunteers

The church is grateful for the unstinting efforts of its volunteers who are involved in service provision, it is estimated that over 2,100 volunteer hours were provided during the year. If this is conservatively valued at £10.00 an hour the volunteer effort amounts to over £21,000.

Page 2

REDEEMED CHRISTIAN CHURCH OF GOD -THE PLACE OF RESTORATION

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

Achievements and performance

a. Review of activities

During the year under review, the Church was of benefit to its congregation and its local community both spiritually and to a limited extent, financially. The church continues to run its Sunday and midweek services for the benefit of local community members.

Due to the outbreak of Corona virus in the year in report, and government several measures to control it resulting in limitation being placed on physical gathering, we could not hold some of our regular activities that takes us into our community. Our annual Black History month celebrations could not hold in October 2020.

In our bid to support the governments effort in alleviating the challenges of the out break of the pandemic, our charity gave out food items for those who needed it during the year. Over £2.000.00 was spent of food and household material which was given out to members of the community. We also participated in a Christmas initiative tagged “Love Your Neighbour”. In this initiative with our fund commitment and counterpart funding received we were able to make boxes of Christmas dinner available to over 40 families in Islington

We held a health seminar in December with the focus on dousing the myth on the Covid-19 vaccine. It was a virtual event with reputable medical personal as resource persons, speaking from the professional point of view while also refuting the conspiracy theories preventing the BAME group from taking the vaccine. The seminar was virtual on zoom and was well attended.

A Christmas carol service and party was held virtually on Zoom in December to end the year and celebrate in style.

The young people in the church could not visit the local care homes during Easter and Christmas celebrations but the church sent greetings to them.

The church could not run the planned 8 weeks sewing and craft training sessions intended to empower community members. It will be run in the following year if situation permits.

b. Impact of Covid -19 Pandemic

As a result of the outbreak of COVID-19 Pandemic in the first half of the year under review, government introduced several measures to curtail further spread of the virus. Nationwide lockdowns Nationwide lockdowns were declared. The Lockdown impacted our physical meetings as places of worship were prohibited from opening, and physical gathering suspended. To enable us to continue to meet the needs of our members, at a very difficult time, we moved our services to a virtual platform. Sunday worship services, midweek bible study, regular prayer meetings and seminars were all moved to a virtual platform using Zoom.

Financial review

a. Going concern

After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.

Page 3

REDEEMED CHRISTIAN CHURCH OF GOD -THE PLACE OF RESTORATION

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

b. Reserves policy

The Trustees have established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets ('the free reserves') held by the church should be 3 months of average annual expenditure. At this level, the Trustees holds the view that they would be able to continue the current activities of the church in the event of a significant drop in funding.

Structure, governance and management

a. Constitution

Redeemed Christian Church of God -The Place of Restoration is a registered charity, number 1084575, and is constituted under a Trust deed dated 27th October 2000.

b. Methods of appointment or election of Trustees

The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.

c. Organisational structure and decision-making policies

The church is organised so that the trustees meet regularly to manage its affairs. The day to day administration of the church is managed by the trustees.

d. Policies adopted for the induction and training of Trustees

Most trustees are already familiar with the activities of the charity as they are drawn from members who have the skill set to offer and empathy with our core values. Newly elected trustees are encouraged to attend a series of training sessions led by the Chair.

The courses attended equip the trustees with skills to carry out their duties as trustees. The training enables them to understand:

During induction, they meet other trustees. As part of the induction training, they are encouraged to attend appropriate external events where these will facilitate the undertaking of their role.

Page 4

REDEEMED CHRISTIAN CHURCH OF GOD -THE PLACE OF RESTORATION

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

Structure, governance and management (continued)

e. Related party relationships

The Place of Restoration is a member of the Redeemed Christian Church of God (RCCG) which has parishes all over the world. The parish's relationship with RCCG and other parishes is governed by an 'Agreement for Common Purposes'.

Under the Common Purposes Agreement (see above), The Place of Restoration has agreed to make an annual contribution to RCCG (UK). In addition, the church supports missionary organisations such as Festival of Life and World Evangelism Mission. The church also provides support to members of the congregation (at the discretion of the trustees) who are in need.

f. Financial risk management

The Trustees have assessed the major risks to which the Charity is exposed, in particular those related to the operations and finances of the Charity, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.

Plans for future periods

The church continues to explore various ways of spreading the gospel of Christ in an effective manner. The charity is also looking to grow in membership and continue to develop its members to make life changing impact in society.

Statement of Trustees' responsibilities

The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & Wales 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 its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 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 hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by order of the members of the board of Trustees and signed on their behalf by:

Page 5

REDEEMED CHRISTIAN CHURCH OF GOD -THE PLACE OF RESTORATION

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

Dr A O Obisesan

Trustee Date: 13 September 2021

Page 6

REDEEMED CHRISTIAN CHURCH OF GOD -THE PLACE OF RESTORATION

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2020

Independent examiner's report to the Trustees of Redeemed Christian Church of God -The Place of Restoration ('the Charity')

I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 December 2020.

Responsibilities and basis of report

As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').

I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Your attention is drawn to the fact that the Charity has prepared the accounts 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 (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.

I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's 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 Charity and the Charity's Trustees as a body, for my work or for this report.

Signed: Dated: 16 September 2021

Adegboyega Adesigbin FCCA

ACCA

AdeKay & Co Limited Chartered Certified Accountants 6 Medcalf Road Enfield EN3 6HL

Page 7

REDEEMED CHRISTIAN CHURCH OF GOD -THE PLACE OF RESTORATION

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020

Note
Income from:
Donations and legacies
3
Investments
4
Other income
5
Total income
Expenditure on:
Charitable activities
7
Total expenditure
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Restricted
funds
2020
£
-
-
-
-
-
-
-
17,183
-
17,183		 Unrestricted
funds
2020
£
25,458
3
110
25,571
18,635
18,635
6,936
(11,246)
6,936
(4,310)		 Total
funds
2020
£
25,458
3
110
25,571
18,635
18,635
6,936
5,937
6,936
12,873		 Total
funds
2019
£
24,986
11
220
25,217
29,192
29,192
(3,975)
9,912
(3,975)
5,937

The Statement of financial activities includes all gains and losses recognised in the year.

The notes on pages 11 to 25 form part of these financial statements.

Page 8

REDEEMED CHRISTIAN CHURCH OF GOD -THE PLACE OF RESTORATION

BALANCE SHEET AS AT 31 DECEMBER 2020

Note
Fixed assets
Tangible assets
11
Current assets
Debtors
12
Cash at bank and in hand
Creditors: amounts falling due within one
year
13
Net current assets
Total assets less current liabilities
Net assets excluding pension asset
Total net assets
Charity funds
Restricted funds
14
Unrestricted funds
14
Total funds		 1,660
11,407
13,067
(550)		 2020
£
356
356
12,517
12,873
12,873
12,873
17,183
(4,310)
12,873		 2,562
3,925
6,487
(550)		 2019
£
-
-
5,937
5,937
5,937
5,937
17,183
(11,246)
5,937

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

Dr A O Obisesan

Trustee Date: 13 September 2021

Mr A A Ojo Trustee

The notes on pages 11 to 25 form part of these financial statements.

Page 9

REDEEMED CHRISTIAN CHURCH OF GOD -THE PLACE OF RESTORATION

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2020

Cash flows from operating activities
Net cash used in operating activities
Cash flows from investing activities
Interests from investments
Net cash used in investing activities
Cash flows from financing activities
Net cash provided by financing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
The notes on pages 11 to 25 form part of these financial statements		 2020
£
7,485
(3)
(3)
-
7,482
3,925
11,407		 2019
£
(4,752)
(10)
(10)
-
(4,762)
8,687
3,925

Page 10

REDEEMED CHRISTIAN CHURCH OF GOD -THE PLACE OF RESTORATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

1. General information

Redeemed Christian Church of God - The Place of Restoration , charity number 1084575, is a Charity trust established by a declaration of Trust Deed dated 27th October 2000. The office address is 46,Hollywood Way, Erith Kent DA8 2QE.

2. Accounting policies

2.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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 (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

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 Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

Redeemed Christian Church of God -The Place of Restoration meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

2.2 Going concern

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern. The trustees do not consider that there are any sources of estimation uncertainity at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.

2.3 Income

All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Grants are included in the statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.

Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.

Page 11

REDEEMED CHRISTIAN CHURCH OF GOD -THE PLACE OF RESTORATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

2. Accounting policies (continued)

2.4 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives as well as any associated support costs. Support costs are those costs incurred directly in support of expenditure on the objects of the church and include project management carried out at Headquarters. Governance costs are those incurred in connection with administration of the church and compliance with constitutional and statutory requirements.

Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.

All expenditure is inclusive of irrecoverable VAT.

2.5 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.

2.6 Tangible fixed assets and depreciation

Tangible fixed assets costing £500 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

At each reporting date the Charity assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined to be the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Page 12

REDEEMED CHRISTIAN CHURCH OF GOD -THE PLACE OF RESTORATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

2. Accounting policies (continued)

2.6 Tangible fixed assets and depreciation (continued)

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, .

Depreciation is provided on the following basis:

Music & church equipment - 33.33% straight line Motor vehicles - 25.00% reducing balance Fixtures and fittings - 12.50% straight line Office equipment - 25.00% reducing balance Computer equipment - 33.33% straight line

2.7 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

2.8 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

2.9 Liabilities and provisions

Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the statement of financial activities as a finance cost.

2.10 Financial instruments

The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

2.11 Operating leases

Rentals paid under operating leases are charged to the statement of financial activities on a straight line basis over the lease term.

Page 13

REDEEMED CHRISTIAN CHURCH OF GOD -THE PLACE OF RESTORATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

2. Accounting policies (continued)

2.12 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

3. Income from donations and legacies

Unrestricted
funds
2020
£
Donations
Collection at all services
3,981
Tithe
14,218
Gift Aid
6,259
Subtotal detailed disclosure
24,458
Grants
1,000
Subtotal
1,000
Total 2020
25,458
Unrestricted
funds
2019
£
Donations
Planned giving
10,027
Collection at all services
8,677
Gift Aid
6,282
Subtotal detailed disclosure
24,986		 Total
funds
2020
£
3,981
14,218
6,259
24,458
1,000
1,000
25,458
Total
funds
2019
£
10,027
8,677
6,282
24,986

Page 14

REDEEMED CHRISTIAN CHURCH OF GOD -THE PLACE OF RESTORATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

3. Income from donations and legacies (continued)

Unrestricted
funds
2019
£
Donations
-
Total 2019
24,986
4.
Investment income
Unrestricted
funds
2020
£
Bank interest receivable
3
Unrestricted
funds
2019
£
Bank interest receivable
11
5.
Other incoming resources
Unrestricted
funds
2020
£
Other incoming resources
110		 Total
funds
2019
£
-
24,986
Total
funds
2020
£
3
Total
funds
2019
£
11
Total
funds
2020
£
110

Page 15

REDEEMED CHRISTIAN CHURCH OF GOD -THE PLACE OF RESTORATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

5. Other incoming resources (continued)

Unrestricted Total
funds funds
2019 2019
£ £
Other incoming resources 220 220

6. Analysis of grants

Grants - Missionaries
Grants - Missionaries		 Grants to
Institutions
2020
£
3,545
Grants to
Institutions
2019
£
3,982		 Total
funds
2020
£
3,545
Total
funds
2019
£
3,982

7. Analysis of expenditure on charitable activities Summary by fund type

Unrestricted
funds
2020
£
Support costs
7,217
Direct costs
11,418
18,635		 Total
funds
2020
£
7,217
11,418
18,635

Page 16

REDEEMED CHRISTIAN CHURCH OF GOD -THE PLACE OF RESTORATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

7. Analysis of expenditure on charitable activities (continued)

Summary by fund type (continued)

Support costs
Direct costs		 Unrestricted
funds
2019
£
6,856
22,336
29,192		 Total
funds
2019
£
6,856
22,336
29,192

8. Analysis of expenditure by activities

Support costs
Direct costs
Support costs
Direct costs		 Advanceme
nt of
christian
faith
2020
£
-
7,873
7,873
Advancemen
t of christian
faith
2019
£
-
18,354
18,354		 Grant
funding of
activities
2020
£
-
3,545
3,545
Grant
funding of
activities
2019
£
-
3,982
3,982		 Support
costs
2020
£
7,217
-
7,217
Support
costs
2019
£
6,856
-
6,856		 Total
funds
2020
£
7,217
11,418
18,635
Total
funds
2019
£
6,856
22,336
29,192

Page 17

REDEEMED CHRISTIAN CHURCH OF GOD -THE PLACE OF RESTORATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

8. Analysis of expenditure by activities (continued)

Analysis of direct costs

Visiting speakers expenses
Hall Rental
Training
Visiting speakers expenses
Hall Rental
Training
Conference and seminars
Tracks and evangelism		 Advanceme
nt of
christian
faith
2020
£
215
3,258
4,400
7,873
Advancemen
t of christian
faith
2019
£
1,000
8,966
6,280
450
1,658
18,354		 Total
funds
2020
£
215
3,258
4,400
7,873
Total
funds
2019
£
1,000
8,966
6,280
450
1,658
18,354

Page 18

REDEEMED CHRISTIAN CHURCH OF GOD -THE PLACE OF RESTORATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

8. Analysis of expenditure by activities (continued)

Analysis of support costs

Depreciation
Sundry church administrative expenses
Dues and subscription
Ministry expenses
Printing, postages & stationery
Refreshments
Gifts and donations
Repairs and maintenance
Insurance
Governance costs		 Advanceme
nt of
christian
faith
2020
£
178
156
444
3,468
758
392
700
418
153
550
7,217		 Total
funds
2020
£
178
156
444
3,468
758
392
700
418
153
550
7,217
Depreciation
Sundry Church administrative expenses
Dues and subscription
Web hosting & maintenance
Ministry expenses
Printing, postages & stationery
Refreshments
Transport and travel
Books and tapes
Gifts and donations
Governance costs		 Advancemen
t of christian
faith
2019
£
430
70
152
75
2,767
333
250
1,329
100
800
550
6,856		 Total
funds
2019
£
430
70
152
75
2,767
333
250
1,329
100
800
550
6,856

Page 19

REDEEMED CHRISTIAN CHURCH OF GOD -THE PLACE OF RESTORATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

9. Independent examiner's remuneration

2020 2019
£ £
Fees payable to the Charity's independent examiner for the independent
examination of the Charity's annual accounts 550 550

10. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2019 - £NIL) .

During the year ended 31 December 2020, no Trustee expenses have been incurred (2019 - £NIL) .

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REDEEMED CHRISTIAN CHURCH OF GOD -THE PLACE OF RESTORATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

11. Tangible fixed assets

Cost or valuation
At 1 January 2020
Additions
At 31 December 2020
Depreciation
At 1 January 2020
Charge for the year
At 31 December 2020
Net book value
At 31 December 2020
At 31 December 2019		 Music and
church
equipment
£
14,197
-
14,197
14,197
-
14,197
-
-		 Motor
vehicles
£
10,575
-
10,575
10,575
-
10,575
-
-		 Fixtures
and fittings
£
1,103
-
1,103
1,103
-
1,103
-
-		 Office
equipment
£
1,172
-
1,172
1,172
-
1,172
-
-		 Computer
equipment
£
5,138
534
5,672
5,138
178
5,316
356
-		 Total
£
32,185
534
32,719
32,185
178
32,363
356
-

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REDEEMED CHRISTIAN CHURCH OF GOD -THE PLACE OF RESTORATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

12. Debtors

Due within one year
Other debtors
Prepayments
Gift Aid receivable		 2020
£
-
-
1,660
1,660		 2019
£
1,008
712
842
2,562

13. Creditors: Amounts falling due within one year

2020 2019
£ £
Accruals 550 550

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REDEEMED CHRISTIAN CHURCH OF GOD -THE PLACE OF RESTORATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

14. Statement of funds

Statement of funds - current year

Unrestricted funds
General Funds 1
Restricted funds
Restricted Fund 1
Total of funds		 Balance at 1
January
2020
£
(11,246)
17,183
5,937		 Income
£
25,571
-
25,571		 Expenditure
£
(18,635)
-
(18,635)		 Balance at
31
December
2020
£
(4,310)
17,183
12,873

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REDEEMED CHRISTIAN CHURCH OF GOD -THE PLACE OF RESTORATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

14. Statement of funds (continued)

Statement of funds - prior year

Unrestricted funds
General Funds 1
Restricted funds
Restricted Fund 1
Total of funds
Summary of funds
Summary of funds - current year

General funds
Restricted funds		 Balance at
1 January
2019
£
(7,271)
17,183
9,912
Balance at 1
January
2020
£
(11,246)
17,183
5,937		 Income
£
25,217
-
-
Income
£
25,571
-
25,571		 Expenditure
£
(29,192)
-
(29,192)
Expenditure
£
(18,635)
-
(18,635)		 Balance at
31
December
2019
£
(11,246)
17,183
5,937
Balance at
31
December
2020
£
(4,310)
17,183
12,873

15. Summary of funds

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REDEEMED CHRISTIAN CHURCH OF GOD -THE PLACE OF RESTORATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

15. Summary of funds (continued)

Summary of funds - prior year

General funds
Restricted funds		 Balance at
1 January
2019
£
(7,271)
17,183
9,912		 Income
£
25,217
-
25,217		 Expenditure
£
(29,192)
-
(29,192)		 Balance at
31
December
2019
£
(11,246)
17,183
5,937

16. Analysis of net assets between funds

Analysis of net assets between funds - current period

Tangible fixed assets
Current assets
Creditors due within one year
Total
Analysis of net assets between funds - prior period
Current assets
Creditors due within one year
Total		 Restricted
funds
2020
Unrestricted
funds
2020
£
£
-
356
17,183
(4,116)
-
(550)
17,183
(4,310)
Restricted
funds
2019
Unrestricted
funds
2019
£
£
17,183
(10,696)
-
(550)
17,183
(11,246)		 Total
funds
2020
£
356
13,067
(550)
12,873
Total
funds
2019
£
6,487
(550)
5,937

Page 25