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2021-12-31-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 2021

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 - 8
Independent examiner's report 9
Statement of financial activities 10
Balance sheet 11
Statement of cash flows 12
Notes to the financial statements 13 - 29

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 2021

General Overseer Pastor E A Adeboye

Trustees Mr O Olatunbosun
Mr A A Ojo
Dr A Obisesan
Ms S Onibuje
Dr F B Idowu (Deceased 21 July 2021)
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 2021

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 2021. 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.

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:

We also engage in activities that advance the prevention and relief of poverty through community activities that help to provide needed education and skills to make income for our beneficiaries. We provide trainings in craft and tailoring for women and young girls and, music and photography training for young people. For those out of work or unemployable, we organise trainings on interview techniques, workplace etiquettes, CV writing amongst others.

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 2021

Objectives and activities (continued)

e. Main activities undertaken to further the Charity's purposes for the public benefit

The mission of the Church is to worship God as it celebrates its diversity according to the teachings of Jesus Christ. Through social ministry, prayer, and pastoral care we will express God’s kingdom of love. We also engage in community developments through transfer of knowledge and skills to beneficiaries.

Page 3

REDEEMED CHRISTIAN CHURCH OF GOD -THE PLACE OF RESTORATION

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

Achievements and performance

a. Main achievements of the Charity

We run Sunday church services and midweek bible study and prayer meetings to enable beneficiaries connect to God and experience the love of God. Our services:

The charity supplied Christmas hampers to over 50 families in the community during the Christmas festive and lockdown period. This is to provide support to help families on low income have a decent Christmas meal.

b. 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. Apart from the regular weekly church services and prayer meetings, the church organised seminars, training, and workshops to address issues relating to health and financial managements. The Charity is content with the benefits of its activities to the beneficiaries and will continue with the activities in the coming year

c. Impact of Covid -19 Pandemic

The charity was able to pull through the challenges of the Covid period. The charity was able to adapt its services and projects in line with the demands of the period. Services and meetings moved from being physical to virtual on Zoom and after the lockdown was lifted, it was a bit difficult to get all the parishioners back to physical church. The Charity now runs hybrid services (Physical and Virtual running together) which is at an extra cost to the charity.

Page 4

REDEEMED CHRISTIAN CHURCH OF GOD -THE PLACE OF RESTORATION

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

Achievements and performance (continued)

d. Craft and Tailor It

During the financial year in report, the charity secured an Award for All grant of Eight thousand six hundred pounds only (£8,600.00) from the National Lottery to run a sewing training in the London Borough of Islington. The charity run a free 6-month beginners sewing class comprising of (2 sessions of 2-month each classroom session) and (4-month virtual support.)

This training was opened to women of Black, Asian and Minority Ethnic (BAME) backgrounds who are resident within Islington

The training was well attended with 18 participants initially registering and 16 completing the training. The training sessions were held in two stream of eight sessions covering 8 weeks as listed below:

Session 1

Understanding the sewing machine.

You will learn how to use and take care of your sewing machine, familiarize yourself with sewing kit and tools, take and calculate body measurements, identify common stitching/stitches.

Session 2 & 3

Learn how to make a cushion cover, tote bag and fabric button. Perfect your sewing in a straight line and bring out your creativity.

Session 4 & 5

Learn how to make a shift dress.

Cut and sew your own dress using interfacing for the neckline. You will learn hemming techniques and how to achieve a nice finishing.

Session 6 & 7

It is time to learn how to draft, cut and stitch a pencil skirt with a zipper closure. This will include learning about the different zippers and foots, and how to attach a normal zipper using a zipper foot. You will master the skill of ironing to achieve best sewing results.

Session 8

Tying it all together- with the different completed projects.

The Place of Restoration on behalf of the Craft and Tailor It Project gratefully acknowledges The National Lottery for its Award for all grant that helped made the sewing training possible. As a result of the training, our project was able to transfer skills to women in our community. It was a success story seeing some of our trainees after the fourth week stretching themselves to craft and build items that were not included in our curriculum. On their behalf we say a big thank you to the national lottery.

We are also grateful for the efforts of our volunteers, which amounted to 100 hours . If this is conservatively valued at £10.00 an hour, the volunteer efforts amount to £1,000.

We include in the financial report a project income and expenditure account.

Page 5

REDEEMED CHRISTIAN CHURCH OF GOD -THE PLACE OF RESTORATION

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

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.

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 6

REDEEMED CHRISTIAN CHURCH OF GOD -THE PLACE OF RESTORATION

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

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.

In addition to the Craft and Tailor It project, the charity intends to launch a new project called Imagination. The main objective of imagination is to help develop digital skills for young people in area of photography and help move them away from anti-social behaviour in the community by making them responsible members of the community.

Members' liability

The Members of the Charity guarantee to contribute an amount not exceeding £1 to the assets of the Charity in the event of winding up.

Page 7

REDEEMED CHRISTIAN CHURCH OF GOD -THE PLACE OF RESTORATION

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

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 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:

Dr A O Obisesan Trustee Date: 16 May 2022

Page 8

REDEEMED CHRISTIAN CHURCH OF GOD -THE PLACE OF RESTORATION

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2021

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 2021.

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: 17 May 2022 Adegboyega Adesigbin FCCA ACCA

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

Page 9

REDEEMED CHRISTIAN CHURCH OF GOD -THE PLACE OF RESTORATION

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021

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
2021
£
8,600
-
-
8,600
7,755
7,755
845
17,183
845
18,028		 Unrestricted
funds
2021
£
29,405
1
60
29,466
24,299
24,299
5,167
(4,310)
5,167
857		 Total
funds
2021
£
38,005
1
60
38,066
32,054
32,054
6,012
12,873
6,012
18,885		 Total
funds
2020
£
25,458
3
110
25,571
18,635
18,635
6,936
5,937
6,936
12,873

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

The notes on pages 13 to 29 form part of these financial statements.

Page 10

REDEEMED CHRISTIAN CHURCH OF GOD -THE PLACE OF RESTORATION

BALANCE SHEET AS AT 31 DECEMBER 2021

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		 1,544
17,713
19,257
(550)		 2021
£
178
178
18,707
18,885
18,885
18,885
18,028
857
18,885		 1,660
11,407
13,067
(550)		 2020
£
356
356
12,517
12,873
12,873
12,873
17,183
(4,310)
12,873

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

Dr A O Obisesan Trustee Date: 16 May 2022

Mr A A Ojo Trustee

The notes on pages 13 to 29 form part of these financial statements.

Page 11

REDEEMED CHRISTIAN CHURCH OF GOD -THE PLACE OF RESTORATION

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2021

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 13 to 29 form part of these financial statements		 2021
£
6,307
(1)
(1)
-
6,306
11,407
17,713		 2020
£
7,485
(3)
(3)
-
7,482
3,925
11,407

Page 12

REDEEMED CHRISTIAN CHURCH OF GOD -THE PLACE OF RESTORATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

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 13

REDEEMED CHRISTIAN CHURCH OF GOD -THE PLACE OF RESTORATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

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 14

REDEEMED CHRISTIAN CHURCH OF GOD -THE PLACE OF RESTORATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

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 15

REDEEMED CHRISTIAN CHURCH OF GOD -THE PLACE OF RESTORATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

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.

Investment income, gains and losses are allocated to the appropriate fund.

3. Income from donations and legacies

Donations
Offerings
Tithe
Gift Aid
Subtotal detailed disclosure
Award for All Grant - Craft and Tailor It Project
Subtotal
Total 2021
Donations
Offerings
Tithe
Gift Aid		 Restricted
funds
2021
Unrestricted
funds
2021
£
£
-
5,527
-
17,125
-
6,753
-
29,405
8,600
-
8,600
-
8,600
29,405
Unrestricted
funds
2020
£
3,981
14,218
6,259		 Total
funds
2021
£
5,527
17,125
6,753
29,405
8,600
8,600
38,005
Total
funds
2020
£
3,981
14,218
6,259

Page 16

REDEEMED CHRISTIAN CHURCH OF GOD -THE PLACE OF RESTORATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

3. Income from donations and legacies (continued)

Unrestricted
funds
2020
£
Subtotal detailed disclosure
24,458
Grants
1,000
Subtotal
1,000
Total 2020
25,458
4.
Investment income
Unrestricted
funds
2021
£
Bank interest receivable
1
Unrestricted
funds
2020
£
Bank interest receivable
3
5.
Other incoming resources
Unrestricted
funds
2021
£
Other incoming resources
60		 Total
funds
2020
£
24,458
1,000
1,000
25,458
Total
funds
2021
£
1
Total
funds
2020
£
3
Total
funds
2021
£
60

Page 17

REDEEMED CHRISTIAN CHURCH OF GOD -THE PLACE OF RESTORATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

5. Other incoming resources (continued)

Unrestricted Total
funds funds
2020 2020
£ £
Other incoming resources 110 110

6. Analysis of grants

Missions
Missions		 Grants to
Institutions
2021
£
4,815
Grants to
Institutions
2020
£
3,545		 Total
funds
2021
£
4,815
Total
funds
2020
£
3,545

The Charity has made the following material grants to institutions during the year:

Name of institution
COF Fund
Festival of Life
RCCG Missions
WEM
Other grants to institutions		 2021
£
850
420
1,015
1,880
4,165
650
4,815		 2020
£
600
420
1,075
1,200
3,295
250
3,545

Page 18

REDEEMED CHRISTIAN CHURCH OF GOD -THE PLACE OF RESTORATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

7. Analysis of expenditure on charitable activities

Summary by fund type

Advancement of Christian faith
Prevention and relief of poverty
Missions and charitable donations
Advancement of Christian faith
Missions and charitable donations		 Restricted
funds
2021
Unrestricted
funds
2021
£
£
-
19,484
7,755
-
-
4,815
7,755
24,299
Unrestricted
funds
2020
£
15,090
3,545
18,635		 Total
funds
2021
£
19,484
7,755
4,815
32,054
Total
funds
2020
£
15,090
3,545
18,635

Summary by expenditure type

Depreciation
2021
£
Advancement of Christian faith
178
Prevention and relief of poverty
-
Missions and charitable donations
-
178		 Other costs
2021
£
19,306
7,755
4,815
31,876		 Total
funds
2021
£
19,484
7,755
4,815
32,054

Page 19

REDEEMED CHRISTIAN CHURCH OF GOD -THE PLACE OF RESTORATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

7. Analysis of expenditure on charitable activities (continued)

Summary by expenditure type (continued)

Advancement of Christian faith
Missions and charitable donations		 Depreciation
2020
£
178
-
178		 Other costs
2020
£
14,912
3,545
18,457		 Total
funds
2020
£
15,090
3,545
18,635

8. Analysis of expenditure by activities

Advancement of Christian faith
Prevention and relief of poverty
Missions and charitable donations
Advancement of Christian faith
Missions and charitable donations		 Direct costs
2021
£
11,426
7,755
-
19,181
Direct costs
2020
£
7,873
-
7,873		 Grant
funding of
activities
2021
£
-
-
4,815
4,815
Grant
funding of
activities
2020
£
-
3,545
3,545		 Support
costs
2021
£
8,057
-
-
8,057
Support
costs
2020
£
7,217
-
7,217		 Total
funds
2021
£
19,483
7,755
4,815
32,054
Total
funds
2020
£
15,090
3,545
18,635

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REDEEMED CHRISTIAN CHURCH OF GOD -THE PLACE OF RESTORATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

8. Analysis of expenditure by activities (continued)

Analysis of direct costs

Hall Rental
Training (Music & Mission )
Conference and seminars
CTI Project - Project Manager
CTI Project - Project Support
CTI Project - Space & Storage Costs
CTI Project - Trainners Costs
CTI Project - Equipment - Laptop
CTI Project - Other Equipment
CTI Project - Fabric Material
CTI Project - Refreshment
CTI Project- Sewing Machine
Visiting speakers expenses
Hall Rental
Training (Music & Mission)		 Advanceme
nt of
Christian
faith
2021
£
4,238
6,988
200
-
-
-
-
-
-
-
-
-
11,426
Advancemen
t of Christian
faith
2020
£
215
3,258
4,400
7,873		 Prevention
and relief of
poverty
2021
£
-
-
-
565
266
918
3,000
549
276
472
116
1,593
7,755
Prevention
and relief of
poverty
2020
£
-
-
-
-		 Total
funds
2021
£
4,238
6,988
200
565
266
918
3,000
549
276
472
116
1,593
19,181
Total
funds
2020
£
215
3,258
4,400
7,873

Page 21

REDEEMED CHRISTIAN CHURCH OF GOD -THE PLACE OF RESTORATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

8. Analysis of expenditure by activities (continued)

Analysis of support costs

Depreciation
Sundry church administrative expenses
Dues and subscription
Ministry expenses
Printing, postages & stationery
Transport and travel
Gifts and donations
Ministry expenes
Insurance
Hospitality
IT Consumables
Media Costs
Telephone
Governance costs		 Advanceme
nt of
Christian
faith
2021
£
178
329
165
640
100
1,148
2,356
425
403
920
294
299
250
550
8,057		 Total
funds
2021
£
178
329
165
640
100
1,148
2,356
425
403
920
294
299
250
550
8,057

Page 22

REDEEMED CHRISTIAN CHURCH OF GOD -THE PLACE OF RESTORATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

8. Analysis of expenditure by activities (continued)

Analysis of support costs (continued)

Depreciation
Sundry Church administrative expenses
Dues and subscription
Ministry expenses
Printing, postages & stationery
Refreshments
Gifts and donations
Insurance
Repairs and maintenance
Governance costs
9.
Independent examiner's remuneration
Fees payable to the Charity's independent examiner for the independent
examination of the Charity's annual accounts		 Advancemen
t of christian
faith
2020
£
178
156
444
3,468
758
392
700
418
153
550
7,217
2021
£
550		 Total
funds
2020
£
178
156
444
3,468
758
392
700
418
153
550
7,217
2020
£
550

10. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2020 - £NIL) .

During the year ended 31 December 2021, no Trustee expenses have been incurred (2020 - £NIL) .

Page 23

REDEEMED CHRISTIAN CHURCH OF GOD -THE PLACE OF RESTORATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

11. Tangible fixed assets

Cost or valuation
At 1 January 2021
At 31 December 2021
Depreciation
At 1 January 2021
Charge for the year
At 31 December 2021
Net book value
At 31 December 2021
At 31 December 2020		 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
£
5,672
5,672
5,316
178
5,494
178
356		 Total
£
32,719
32,719
32,363
178
32,541
178
356

Page 24

REDEEMED CHRISTIAN CHURCH OF GOD -THE PLACE OF RESTORATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

12. Debtors

Due within one year
Other debtors
Gift Aid receivable		 2021
£
1,000
544
1,544		 2020
£
-
1,660
1,660

13. Creditors: Amounts falling due within one year

2021 2020
£ £
Accruals 550 550

Page 25

REDEEMED CHRISTIAN CHURCH OF GOD -THE PLACE OF RESTORATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

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
2021
£
(4,310)
17,183
12,873		 Income
£
29,466
8,600
38,066		 Expenditure
£
(24,299)
(7,755)
(32,054)		 Balance at
31
December
2021
£
857
18,028
18,885

Page 26

REDEEMED CHRISTIAN CHURCH OF GOD -THE PLACE OF RESTORATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

14. Statement of funds (continued)

Statement of funds - prior 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

15. Summary of funds

Summary of funds - current year


General funds
Restricted funds		 Balance at 1
January
2021
£
(4,310)
17,183
12,873		 Income
£
29,466
8,600
38,066		 Expenditure
£
(24,299)
(7,755)
(32,054)		 Balance at
31
December
2021
£
857
18,028
18,885

Page 27

REDEEMED CHRISTIAN CHURCH OF GOD -THE PLACE OF RESTORATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

15. Summary of funds (continued)

Summary of funds - prior year

General funds
Restricted 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

16. Analysis of net assets between funds

Analysis of net assets between funds - current year

Tangible fixed assets
Current assets
Creditors due within one year
Total
Analysis of net assets between funds - prior year
Tangible fixed assets
Current assets
Creditors due within one year
Total		 Restricted
funds
2021
Unrestricted
funds
2021
£
£
-
178
18,028
1,229
-
(550)
18,028
857
Restricted
funds
2020
Unrestricted
funds
2020
£
£
-
356
17,183
(4,116)
-
(550)
17,183
(4,310)		 Total
funds
2021
£
178
19,257
(550)
18,885
Total
funds
2020
£
356
13,067
(550)
12,873

Page 28

REDEEMED CHRISTIAN CHURCH OF GOD -THE PLACE OF RESTORATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

17. Reconciliation of net movement in funds to net cash flow from operating activities

Net income for the year (as per Statement of Financial Activities)
Adjustments for:
Depreciation charges
Investment income
Decrease in debtors
Increase/(decrease) in creditors
Net cash provided by operating activities
18.
Analysis of cash and cash equivalents
Cash in hand
Total cash and cash equivalents
19.
Analysis of changes in net debt		 2021
£
6,012
178
1
116
-
6,307
2021
£
17,713
17,713		 2020
£
6,936
178
3
902
(550)
7,469
2020
£
11,407
11,407
Cash at bank and in hand At 1
January
2021
£
11,407
11,407		 Cash flows
£
6,306
6,306		 At 31
December
2021
£
17,713
17,713

Page 29