**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.
Page 8
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|
|---|---|---|---|
Page 9
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|||
|---|---|---|
||||
||||
Page 10
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|
|---|---|
Page 11
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|
|---|---|
This page does not form part of the statutory financial statements
Page 13
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|
|---|---|
This page does not form part of the statutory financial statements
Page 14