REGISTERED CHARITY NUMBER: 1092998
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 May 2021
for River of Life Church
River of Life Church
Contents of the Financial Statements for the Year Ended 31 May 2021
| Page | |
|---|---|
| Report of the Trustees | 1 to 3 |
| Independent Examiner's Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 |
| Notes to the Financial Statements | 7 to 12 |
| Detailed Statement of Financial Activities | 13 to 14 |
River of Life Church
Report of the Trustees for the Year Ended 31 May 2021
The trustees present their report with the financial statements of the charity for the year ended 31 May 2021. The trustees have adopted the provisions of 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 2015).
OBJECTIVES AND ACTIVITIES Objectives and aims
The objects of the Charity are:
To advance the Christian faith through preaching and proclamation of the Christian Gospel; the teaching of Christian doctrine, pastoral care of Christian people; and the distribution of Bibles and Christian literature.
To assist and relieve people who are in conditions of need, hardship, or distress, or who are aged and sick.
There have been no changes in objectives since the last annual report.
The Trustees confirm that they have paid due regard to the Charity Commission's guidance on public benefit and have strived to ensure that the Charity's activities reflect this.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
The Charity organises and convenes a programme of weekly meetings for the proclamation of the Gospel of Jesus Christ and for the instruction and teaching in the Holy Scriptures.
The Charity organises regular outreach and special events as follows:
Weekly parent and toddler group and a children's club at the Christian Life Centre.
Maintenance of the Christian Life Centre to meet the objects of the Charity.
Financial support to the people within and outside the church, including the following charitable organisations:-
Ministries supported during the year were, CAP, Hope Trust, Barnabas Fund, Open Doors, Samaritans Purse, together with individuals working with Christian outreach organisations on a full time or temporary basis.
Practical support to people within the church and local community through an emergency food store and to people within the church via donations from the Church Fellowship.
FINANCIAL REVIEW
Reserves policy
The Trustees are working towards having a balance in place to accomplish a formal reserve by February 2022. This will be ongoing to the amount to cover 3 months running costs.
Net assets at the end of 2021 were £718,950 (2020 - £706,120).
Capital expenditure during the year of £Nil (2020 - £Nil) (representing fixtures, fittings and equipment at the church).
Alterations and improvements to the building are ongoing and subject to the prudent approach employed by the Trust for all of its activities.
FUTURE PLANS
The future plans are to continue with the objectives of the Church.
Page 1
River of Life Church
Report of the Trustees
for the Year Ended 31 May 2021
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
Safeguarding and Governance
The Charity has a safeguarding Policy which has been implemented and copies issued to all individuals working with children, young people and adults with care and support needs. Training in safeguarding and best practice took place in 2014 and is scheduled to again take place in 2022. (Training could not take place in 2020/2021 due to the COVID pandemic with the Church and Sunday School Classes closed due to lockdowns and COVID restrictions).
The Charity's Trustees are responsible for preparing the Trustees Annual Report and the Financial Statements in accordance with the applicable law and regulations.
The law applicable to charities in England and Wales requires that trustees prepare Financial Statements for each financial year. Under that law, the Trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice, (United Kingdom Accounting Standards and Applicable Law). The Trustees must not approve the Financial Statements unless they are satisfied that they give a true and fair view of the state of affairs of the Charity in the income and expenditure of the Charity for that period.
In preparing these Financial Statements, the Trustees are required to:
-
Select suitable accounting policies and then apply them consistently;
-
Observe the methods and principles in the Charity's SORP;
-
Make judgements and accounting estimates that are reasonable and prudent;
-
State whether applicable accounting standards have been followed; subject to any material departures disclosed and explained in the financial statements;
-
Prepare the Financial Statements on the going concern basis unless it is inappropriate to presume that the Charity will continue to operate.
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 1993 and the Charity (Accounts and Reports) Regulations 2008. 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.
The Trustees are working towards a policy of providing a suitable free reserve of at least three month's income, to ensure suitable accounting practices are achieved.
During the year the Trustees have met and have taken into account the various business and operational risks which the Charity faces. The trustees are confident that the current financial reporting structure and current risk assessment strategies are sufficient to ensure that adequate steps can be taken to address any significant issues which may arise, which are outside the current norm.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1092998
Page 2
Inde endenl Examiner's Re River of Life Church orl lo the Trustees of Independent examlner's report to the trustees of River of Life Church I report lo the charity Iruslees on my examination of the accounts of River of Life Church Ilhe Trusll for the year ended 31 May 2021. Responsibilities and basis of report As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('Ihe Act,). I report in respect of my examination of the Trusl's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5){b} of the Act. Independent examiner's statement I have completed my examination. I confirm that no material matters have come lo my attention in connection with the examination giving me cause lo believe that in any material respect- accounting records were not kept in respect of the Trust as required by section 130 of the Act; or the accounts do nol accord with those records., or the accounts do not comply with the applicable requirements conceming the form and content of accounts sel out in the Charities (Accounts and Reports) Regulations 2a08 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. Adria Mole FCA ATII BFP Quove Accounting Lld Talpa Hall Old Newton Slowmarket IP14 4HQ Date= Page 4
River of Life Church
Statement of Financial Activities for the Year Ended 31 May 2021
| 31.5.21 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 106,238 Other trading activities 2 - Other income 11,895 Total 118,133 EXPENDITURE ON Raising funds 3 105,303 NET INCOME 12,830 RECONCILIATION OF FUNDS Total funds brought forward 706,120 TOTAL FUNDS CARRIED FORWARD 718,950 |
31.5.20 Total funds £ 108,178 230 3,686 112,094 98,102 13,992 692,128 706,120 |
|---|---|
The notes form part of these financial statements
Page 5
31.5.21 |
31.5.20 |
||
|---|---|---|---|
Unrestricted |
Total |
||
fund |
funds |
||
Notes |
£ |
£ |
|
FIXEDASSETS |
|||
Tangibleassets |
7 |
825,889 |
834,304 |
CURRENTASSETS |
|||
Debtors |
8 |
3,282 |
4,084 |
investments |
9 |
- |
250 |
Cashatbank |
11,475 |
8,441 |
|
14,757 |
12,775 |
||
CREDITORS |
|||
Amountsfallingduewithinoneyear |
10 |
(19,948) |
(21,239) |
NETCURRENTASSETS |
(5,191) |
(8,464) |
|
TOTALASSETSLESSCURRENT |
|||
LIABILITIES |
820,698 |
825,840 |
|
CREDITORS |
|||
Amountsfallingdueaftermorethanoneyear11 |
(101,748) |
(119,720) |
|
NETASSETS |
718,950 |
706,120 |
|
FUNDS |
13 |
||
Unrestrictedfunds |
718,950 |
706,120 |
|
TOTALFUNDS |
718,950 |
706,120 |
River of Life Church
Notes to the Financial Statements for the Year Ended 31 May 2021
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, 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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - at varying rates on cost Fixtures and fittings - 20% on reducing balance Computer equipment - 25% on cost
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.
Pension costs and other post-retirement benefits
The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
Page 7
continued...
River of Life Church
Notes to the Financial Statements - continued for the Year Ended 31 May 2021
2. OTHER TRADING ACTIVITIES
| 2. OTHER TRADING ACTIVITIES |
||
|---|---|---|
| Community café 3. RAISING FUNDS Raising donations and legacies Community café - food etc. Community café - equipment Support costs |
31.5.21 £ - 31.5.21 £ - - 105,303 105,303 |
31.5.20 £ 230 31.5.20 £ 105 90 97,907 |
| 98,102 |
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 May 2021 nor for the year ended 31 May 2020.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 May 2021 nor for the year ended 31 May 2020.
5. STAFF COSTS
The average monthly number of employees during the year was as follows:
| Full time Part time |
31.5.21 2 1 3 |
31.5.20 1 1 2 |
|---|---|---|
No employees received emoluments in excess of £60,000.
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continued...
River of Life Church
Notes to the Financial Statements - continued for the Year Ended 31 May 2021
6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| INCOME AND ENDOWMENTS FROM Donations and legacies Other trading activities Other income Total EXPENDITURE ON Raising funds NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD 7. TANGIBLE FIXED ASSETS COST At 1 June 2020 and 31 May 2021 DEPRECIATION At 1 June 2020 Charge for year At 31 May 2021 NET BOOK VALUE At 31 May 2021 At 31 May 2020 |
Freehold property £ 853,713 45,502 3,075 48,577 805,136 808,211 |
Fixtures and fittings £ 335,959 310,018 5,188 315,206 20,753 25,941 |
Unrestricted fund £ 108,178 230 3,686 112,094 98,102 13,992 692,128 706,120 Computer equipment Totals £ £ 23,136 1,212,808 22,984 378,504 152 8,415 23,136 386,919 - 825,889 152 834,304 |
|---|---|---|---|
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continued...
River of Life Church
| Notes to the Financial Statements-continued for the Year Ended 31 May 2021 8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.5.21 £ Trade debtors 473 Other debtors 2,809 3,282 9. CURRENT ASSET INVESTMENTS 31.5.21 £ Unlisted investments - 10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.5.21 £ Bank loans and overdrafts (see note 12) 17,000 Trade creditors 1,220 Taxation and social security 1,024 Other creditors 704 19,948 11. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 31.5.21 £ Bank loans (see note 12) 101,748 12. LOANS An analysis of the maturity of loans is given below: 31.5.21 £ Amounts falling due within one year on demand: Bank loans 17,000 Amounts falling between one and two years: Bank loans - 1-2 years 17,000 Amounts falling due between two and five years: Bank loans - 2-5 years 51,000 Amounts falling due in more than five years: Repayable by instalments: Bank loans more 5 yr by instal 33,748 |
||
|---|---|---|
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continued...
River of Life Church
Notes to the Financial Statements - continued for the Year Ended 31 May 2021
13. MOVEMENT IN FUNDS
| At 1.6.20 £ Unrestricted funds General fund 706,120 TOTAL FUNDS 706,120 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 118,133 TOTAL FUNDS 118,133 Comparatives for movement in funds At 1.6.19 £ Unrestricted funds General fund 692,128 TOTAL FUNDS 692,128 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 112,094 TOTAL FUNDS 112,094 |
Net movement At in funds 31.5.21 £ £ 12,830 718,950 12,830 718,950 Resources Movement expended in funds £ £ (105,303) 12,830 (105,303) 12,830 Net movement At in funds 31.5.20 £ £ 13,992 706,120 13,992 706,120 Resources Movement expended in funds £ £ (98,102) 13,992 (98,102) 13,992 |
|---|---|
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continued...
River of Life Church
Notes to the Financial Statements - continued for the Year Ended 31 May 2021
14. RELATED PARTY DISCLOSURES
During the year payments were made to R Harvey, who is a Trustee, totalling £8,456 (2020 - £7,644) for custodian services.
Page 12
River of Life Church
| Detailed Statement of Financial Activities for the Year Ended 31 May 2021 INCOME AND ENDOWMENTS Donations and legacies Donations and gifts Gift aid Hire of premises Other trading activities Community café Other income Grants received Bank interest Total incoming resources EXPENDITURE Raising donations and legacies Community café - food etc. Community café - equipment Support costs Management Wages Pensions Hire of plant and machinery Other operating leases Rates and water Insurance Light and heat Telephone Postage and stationery Repairs and maintenance Cleaning Consumables Giving to other organisations Welfare fund Carried forward |
31.5.21 31.5.20 £ £ 88,823 86,625 12,411 14,269 5,004 7,284 106,238 108,178 - 230 11,895 3,685 - 1 11,895 3,686 118,133 112,094 - 105 - 90 - 195 52,241 26,980 1,169 615 754 754 211 211 505 742 4,910 4,815 7,106 9,719 1,976 2,235 942 376 7,516 12,229 312 706 - 802 5,098 10,424 542 210 83,282 70,818 |
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This page does not form part of the statutory financial statements
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River of Life Church
Detailed Statement of Financial Activities
for the Year Ended 31 May 2021
| Management Brought forward Young people Accountancy Outreach Licences Custodial Sundry expenses Special event costs Finance Bank charges Mortgage Other Freehold property Fixtures and fittings Computer equipment Total resources expended Net income |
31.5.21 31.5.20 £ £ 83,282 70,818 257 711 125 530 1,289 1,709 1,242 1,338 8,456 7,674 1,909 598 204 1,062 96,764 84,440 71 118 53 3,602 124 3,720 3,075 3,074 5,188 6,485 152 188 8,415 9,747 105,303 98,102 12,830 13,992 |
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This page does not form part of the statutory financial statements
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