RCCG- Uberty Chrlsthn Connectlons Charlty No. 1099911 Trustees, Report and Unaudlted Accounts 31 December 2023
RCCG- Llberty Chrfstlan Connectlons Contents Pages Trustees, Annual Report Independent Examiner's Report Statement of Financial Activities 2to5 6t06 7t07 Balance Sheet 8t08 Statement of Cash flows 18to18 Notes to the Accounts 9t017 Detailed Statement of Finanaal Activities 19to21 Page I
RCCG- Liberty Christian Connections Trustees Annual Report The trustees present their report with the unaudited financial statements of the charity for the year ended 31 December 2023. REFERENCE AND ADMINISTRATIVE DETAILS Charlty No. 1099911 Prlnclpal Office Liberty House Clarks Road Ilford IGI IUG Trustees The following trustees served during the year: A. Bamgbose S.T. Fawole O. Owolabi Key Managernent Personnel General Overseer Minister in Charge Accountants Pastor E A Adeboye Pastor Franas Oladimeji MaNelous Ventures 71 Kentlea Road Thamesmead London SE28 OJY Bankers Barclays Bank PLC 41 Woolwich New Road Woolwich London SE18 6NU OBJECtIVES AND AcfiviTIES Policies and Objective5 To seek the advancement of the Christian religion in accordance with the teachings of the Redeemed Christian Church of God and to educate people in the Word of God. To teach the knowledge of Jesus Christ all over the Redbridge and E55ex county and beyond. In addition, to help in the relief of poverty in 311 parts of the world: directly to our immediate members, their families, members of the local, national and International community as occasion would demand. in cash and in kind. Page 2
RCCG- Llberty Christian Connections Trustees Annual Report The charitws main objectives for the year were- Setting up new church parishes and community centres Organising conferences, seminars, lebratIOnS. and small group meetings. Improving on the Love Year Neighbour scheme (Homeless Feedingl in reaching out to alcoholics. drug addicts and other less privileged in the community. Improving on the annual March for Jesus conference to find out emer8in8 issues in the community and to foster good relationship Finding out through our weekly Evangelism programme how Liberty Christian Connections can assist the Borough in alleviating poverty and meeting the needs of the community. Upgrading the facilities provided in the Liberty Preschool & Nursery to accommodate more chlldren and provide Breakfast and After School Clubs to working parents. Re5USCitate Liberty Academy programmes to provide training and employment within the Care Industry as well as provide training in Basic Lrfe Skills to the unemployed. Grant making policies Under the Common Purposes Agreement (see above), Liberty Christian Connections has agreed to make an annual contribution to RCCG IUKI. In addition, the church SLbpports missionary organisations such as the World Evangelism Mission. The thurch also provides support to members of the congregation lat the discretion of the trustees) who are Sn need. LIBERTY PRESCHOOL- Offering work placement to unemployed people in the community who are unilertaking a course of stuily in Child Care. Givin8 SUPPOrt to parents who need extra hours for their children to stay in the preschool but cannot afford to pay. Offering after school and breakfast clubs to allow working mothers to go to work. Offering work placement to unemployed people in the community who are undertakin8 a course of study in Child Care. Giving support to parents who need extra hours for their children to stay in the preschool but cannot afford to pay. Offering after school and breakfast clubs to allow workirbg mothers to go to work. Malawi Care Project: This project supports over 37 orphans with their education and daily support. Quarterly, the are food and clothing distribution as well as financial support to ensure the well- being of the orphans. Deborah Arise Ministry.. Ladies Prayer Retreat which is interdenomination31 gathering where all women from Various works of life gather in a 5Ultable environment to God in prayers for their lives, families, churches, communities and the nation at large. It is an event where fervent prayers are made to God to assist us in finding solutions to our individual problems. FEED THE PEOPLE- LOVE YOUR NEIGHBOUR- This project has been extended to the homeless within the borough. Every Saturday, food 15 prepared for the homeless. vulnerable as well as church members who are in need. This has become one of the ChariW5 flagship events as attendance grow5 weekly. This has become one of the Charit(s flagship events as attendance from the community has begun to intrease. Every Sunday after service, food is handed over to the homeless. vulnerable and members of the church and the community. MARCH FOR JESUS- This is another fe community event run annually by the Charity to spread the Bospel of jesus Christ. The event has been well attended over the years by members of the public namely the homeless, unemployed and those suffering from some form of addiction and there had been conversions and testimonies. Pa8e 3
RCCG- Liberty Christian Connertions Trustees Annual Report Congregational Health Checks.. Members of the community were able to attend quarterly free health checks run by professionals in the church. Feedback showed that those who attended were at ease to discuss their issues due to the warmth and the professionalism of our volunteers. FATHERING THE FATHERLESS- The Charity donates £50 per month to members of the church who have lost their fathers. Currently there are seven171 fatherless members who benefit from the scheme. Bursary Award: The charity awards a one- off bursary award of £250 per student to the members who have gained admission into University for an undergraduate programme. We also reward a further £250 to those who graduate with 1st Class degree. This is to enhance and motivate the students to achieve and fulfil their full potentials. Child Benefit: Parents of newly- born childn are given a payment of £120 for the first year of the child's life to support in the upkeep of the child. Fathering the Fathedess- ACHIEVEMENTS AND PERFORMANCE a. Review of activities Bible Studv We held regular meetings at all our Bible study and prayer centres in Redbridge and Essex. Evangelism Evangelism was carried out throughout the year. reaching out to those who were on the street as well a5 in residential homes, enli8htenin6 them of the love of JesLÈS that there is hope for them too if they would respond to His love. In addition to giving the homeless the word of God, our team also went with tea, coffee, sandwiches giving as many as possible. In the past a number of them h3ve responded positively to our invitation and attended our services. Page 4
RCCG- Liberty Christlan Connertlons Trustees Annual Report Counsellin8 This was made available free of charge mainty by the pastor. Appointments to see the pastor are made either directly with him or through the church office. The meetings took place in the Church during the week in addition to Sundays. We had a number of activities for the youths, men and women during the year which included seminars and workshops as well as counselling. They had some time to socialising as well We pray and preach the good news of salvation not only in Redbridge and Essex but In many other parts of the UK. Other activities undertaken to reach out to the Community- l.The Charity provides food and Clothes to about 300 pupils in Malawi as part of its commitment to support the cause of orphans in Africa. 2. The Charity does a collection of various items on a regular basls and contributes considerably to Mission to Africa, sending clothing and provisions to orphans in Malawi. Made charitable donations to charity organisations. 3. The Charity hope to have a fully functional canteen operating in the premises and providing various dellcacies for its members and community. Visits to Residential Homes in Redbridge= l.The Charity's ongoing commitment to support the Senior Citizens in the community is reinforced by the weekly visits of our Evangelism Team groups li.e. children, youths and the younger generation) to a couple of homes where they read, write and socialise with them In a relaxed atmosphere 2.Visited the Homes during Christmas and gave out Christmas presents to all the residents. b. Investment poliry and performance The trustees have decided that at present. funds should be retained in Bank. Any Change in such banking arrangements should be agreed by the board. As far as possible. funds will be talfied in interest bearing accounts. FINANCIAI REVIEW a. Investment policy and performance The trustees have decided that at pre5enL funds should be retained in Bank. Any change in such banking arrangements should be agreed by the board. As far as possible. funds will be retained in interest bearing a¢counts. b. Reserves policy The Trustees have establishe(l a policy whereby the unrestricted funds not committed or invested in tangible fixed assets I'the free reserves'l held by the church should be 3 months of annual expenditure. At thi5 level, the trustees feel that they would be able to continue the current activities of the church in the event of a significant drop in funding. PLANS FOR FUTURE PERIODS We plan to expand the pre- school at a later date to include breakfast and after school club as well as ful time provision Page 5
RCCG- Llberty Chrlstlan Connectlons Trustees Annual Report we are planning to commence a care project with the vision to reaching our community with the love of Chrlst. The project will include children and adolesnt care projecL adult care projectregeneration project and eilucation projects srRucfuRE, GOVERNANCE AND MANAGEMENT a. ConstltLrtlon b. Method of appointment or election of Trustees The church is organised so that the trustees meet regularly to manage 5ts affairs. The day to day administration of the church is managed by the pastor. Redeemed Christian Church of God I'RCCG'I knberty Christian Connections 15 a member of the Redeemed Christian Church of God IRCCGI which has parishes all over the world. The parish's relationship with RCCG and other parishes is governed by an"Agreement for Common Purposes" The Trustees have assessed the major risks to which the church 15 exposed, in particular those related to the operations and finances of the church, and are satisfied that 5YStems are in place to mitigate our exposure to the major risks. Statement of trustees, responsibilitles In relation to the financial ststements The charity trustees are responsible for preparing a trustees, annual report and financial ststements In accordance with applicable13w and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011. the applicable Chartties IAccounts and Reports} Regulations, and the provisions of the Trust deed. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irre8ularitie5. Signed on behalf of the charity'5 trustees O. Owolabi Trustee 25 October 2024 Page 6
RCCG- Liberty Chrlstlan Connectlons Independent Examlners Report Independenl Examlner's Report to the trustees of RCCG- Llberty Chrlstlan Connertlons I report to the trustees on my examination of the financial statements of RCCG- Liberty Christian Connections for the year ended 31 December 2023. Responsibilities and basis ol report As the charity's trustees you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 20111'the Act'l. I report in respect of my examination of the charity's financial statemerhts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 14515llbl of the Act. Independent examiner's statement As the charity's gross income exceeded £250.(KKJ your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirni that l am qualified to undertake the examination by being a qualified member of FAIA. I have completed my examination. I can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material re5pert: the accounting records were not kept in respect of the charity as required by section 130 of the Act; or the financial statements do not accord with those records- or the financial statements do not comply with the applicable requirements conceming the form and content of financial statements Set out in the Charitie5 (Accounts and Reportsl Regulations 2008 other than any requirement that the financial statements 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 flnantlal statements lo be reached. Oluyemi5i Owete FAIA Marvelous Venture5 71 Kentlea Road Thamesmead London SE28 OJY 25 October 2024 Page 7
RCCG - Liberty ChriAian Connections ststement of Flnan¢lal A¢tlvltles for the year ended 31 December 2023 UnTestrkted funds Tot31 funds Total funds 2023 2023 2022 Notes Income and endowments from: Donations and legacies Charitable activities Other trading activities Investments 277.590 85.108 56,790 43 49.750 277,59) 85,108 56.790 43 331,334 64,716 58,438 59 75.308 Other 49,750 Total 469.281 469,281 529,855 Expendlture on: Raising funds Charitable activities Other 149,197 110.465 207.6(K) 149.197 110,465 207,61K) 133,988 75,142 184,508 li Total 467,262 467,262 393.638 Net gains on investments Net Income 12 2.019 2,019 136,217 Transfers between fvnds Net Income before other gainslllosses) 2.019 2.019 136,217 Other gains and losse5 Net movement in funds 2,019 2,019 136,217 Reconciliation of fund5: Total funds brought forward 1,014,456 1,014,456 878,239 Totsl funds ¢arrfed forward 1.016.475 1.016.475 1,014,456 Page 8
RCCG- Liberty Christian Connections Balance Sheet at 31 December 2023 Charlty No. 1099911 2023 2022 Flxed assets Tangible assets 14 1,819,893 1,819,893 1.808,036 1,808,036 Current assets Debtors Cash at bank and in hand 15 31.813 114.248 146.061 164,9451 81,116 47.375 129,759 177,134 119,9061 157,228 Credltors: Amount falling dve vMthin one year Net Current assets 16 Total assets less current liabilities 1,901.009 1884,5341 1.016,475 1.965,264 1950,8081 1,014,456 Credltor5: Amounts falling due after more than one year Net assets excludln8 penslon asset or Ilablllty 17 Totsl net assets 1,016,475 1,014,456 The fund5 of the charity Restricted funds Vnrestricted funds General funds 18 18 1,016.475 1.014,456 1.016.475 1.014,456 Reserves 18 Total funds 1,016.475 1,014,456 Approved by the trnstees on 25 October 2024 And signed on their behalf by-. S.T. Fawole Tfustee 25 October 2024 Page 9
RCCG- Llberty Chrlstlan Connectlons Notes to the Accounts for the year ended 31 December 2023 l Accounting policies Basls of preparatlon The financial statements have been prepared in accordance with Statement of Recommended Practice: Accounting and Reportirbg by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic if Ireland {FRS 1021 issued on 16 Juty 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021 and the Charities Art 2011. Change in basis of accounting or to pfevious accounts There ha5 been no change to the accounting policies Ivaluation rules and method of accounting) since last year and no changes have been made to accounts for previous year5. Fund accounting Unrestricted fund5 These are available for use at the discretion of the trustees in furtheran of the general objects of the charity. These are unrestricted funds earmarked by the trustees for particular purposes. These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values. These are 3vailable for use subjert to restrictions imposed by the donor or through terms of an appeal. Designated funds Revaluatlon funds Restricted funds Income Recognition of income Income is included in the Statement of Financial Artivities ISOFAI when the charity becomes entitled to, and virtually rtain to receive, the income and the amount of the income can be measured with sufficient reliability. Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SOFA. Donations and Voluntary income received by way of grants, donations and gifts is included in the the SOFA when receivable and only when the Charity has unconditional entitlement to the income. Tax reclaims on Income from tax reclaims is included in the SOFA at the same time as the donations and gifts giftldonation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) where the benefrt to the Charity is reasonably quantifiable, measurable and material. Volunteer help The value of any volunteer help received is not induded in the accounts. Investment Income This Is included In the attounts when receivable. Gainslllossesl on This includes any gain or loss resultlng from revaluing Investments to market value revaluation of fixed at the end of the year. assets leBa¢ies and facilities Gains/llossesl on investment assets This includes any gain or loss on the sale of investments. Page 10
RCCG- Liberty Chrlstlan Connections Note5 to the Accounts Expendlture Recognition of expenditure Expenditure is recognised on an accruals basis. Expenditure includes any VAT whSch cannot be fully recovered. and 15 reported a5 part of the expenditure to which it relates. Expenditure on These comprise the costs associated with attrarting voluntary income, fundraising raising funds trading costs and investment man3gement costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs. All grant expenditure is accounted for on an attual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid. These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any auditlindependent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs. These are support costs not allocated to a particular artivity. Grants payable Governance costs Other expenditure Taxatlon The charity is exempt from tax on its charitsble artivities. Tangible fixed asset5 and depreciation Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life- Office & Church Equipment 20% Reducing Balance Motor Vehicle 20% Straight Line 25% Reducing Balance Furniture & Fittings Freehold inve5tmeTrt property Investment properties are measured initially at C05t and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise. Stocks Stock is included at the lower of cost or net realisable value. Donated Items of stotk are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market. Trade and other debto Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Cash and cash equlvalents Cash and cash equivalent5 comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid invèstments wtth orbginal maturities of three month5 or less and bank overdraft5. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows. cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the companws cash management. Page 11
RCCG- Llberty Chrtstlan Connectlons Notes to the Accounts Trade and other (redltors Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past Èvent that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured oi estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. Research and development Expenditure on research and development is written off in the year in which it incurred. Forelgn curren¢les Monetary assets and liabilities denominated in currencies other than the funrtional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period. Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred. All exchange differences are are taken into account in arrTrving at net incomelexpenditure. Leased assets Where the charity enters into a lease which entails taking Substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease. Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases. Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower. at the present value of the minimum lease payments. The corresponding liability to the le550r is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately. unless they are directly attributable to qualifying assets. in which case they are capltallsed in accordance with the charity's policy on borrowing costs. Assets held under finance leases are depreckgted in the same way as owne(i assets. Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases. such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basi5. Penslon costs The charity operates 3 defined contribution plan for its employees. A defined contribution plan is a pension plan under which the charity pays fixed contributions into a separate entity. Once the contributions have been paid the charity has no further payments obligations. The contributions are recognised as expense5 when they fall due. Amount5 not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the charity in independently administered funds. Receipt ol donated goods. facilities and ser¥ite5 All donated goods. facilities and service5 received are recogni5ed within incoming resources and expenditure at an estimate of the value to the charity. Page 12
RCCG - Liberty Christian Connertions Notes to the Accounts 2 Statement of Flnanclal Activltle$- prlor year Unrestrlcted funds Total funds 2022 2022 Income and endowments from: Donations and legacles Charitable activities Other trading artivities Investments 331,334 64,716 58.438 59 75,308 331,334 64.716 58,438 59 75,308 Other Total 529.855 529,855 Expenditure on: Raising funds Charitable activities 133,988 75,142 133,988 75,142 184,508 Other 184,508 Totsl 393,638 393,638 Net In¢ome 136,217 136,217 Net Income before other gainslllossesl Other gains and losses: Net movement in fund$ 136,217 136,217 136,217 136,217 Re¢on¢iliation of funds.. Total funds brought forward Total funds carried forward 878,239 878,239 1,014,456 1,014,456 3 lficome from donatlons and legacies Unrestrlcted Tolal 2023 Total 2022 Voluntary Income 277,5g 277,590 277,590 277,590 331,334 331,334 4 Income flom (haritable activities UnTe5tr1rted Total Totsl 2023 2022 Charitable Activities 85,108 85,108 85,108 85,108 64,716 64,716 Page 13
RCCG - Llberty Chrlstlan Connectlons Notes to the Accounts 5 Income from other trading activities Vnrestricted Total Total 2023 2022 Bookshop Pre School 242 242 335 56,548 56.790 56.548 58,103 58,438 56,790 6 Income from Investments Unrestrirted Total Total 2023 2022 Bank Interest 43 43 59 43 43 59 7 Other Income Vnre5tr1cted Totsl 2023 Total 2022 Glft Aid Clalmed 49.750 49.750 64.399 10,909 75,308 49.750 49,750 8 Expenditure on raising funds Unrestrlrted Total Total 2023 2022 Costs of generating voluntory income Voluntary Income Fundroising troding costs Pre School 88.492 88,492 81,353 60,705 149.197 60,705 149,197 52,635 133,988 Page 14
RCCG - Llberty Christlan Connections Notes to the Accounts 9 Expenditure on tharitable actlvltles Unrestricted Total Total 2023 2022 Expenditure on choritable t7ctivities Charitable Activities 53,633 17,169 39.663 53,633 17.169 39,663 27,086 Grant5 made 48,056 Governance $ts 110.465 110,465 75,142 10 Analysis of grants Grants to Institutions Actlvlty or programme Total Ti>tal 2023 2022 Advancement of Christian Faith 39,663 39,663 48,056 39.663 39,663 48,056 Grant funding of activities Activity or programme Totsl 2023 Total 2022 Advancement of Christian Faith 39.663 39,663 48,056 39.663 39,663 48,056 Page 15
RCCG- Llberty Christian Conneclions Notes to the A¢counts 11 Other expenditure Unrestrirted Total Totsl 2023 2022 Bookshop Bank loan and overdraft interest payable Other interest payable Employee Costs Motor and travel costs 9,223 9.223 13.102 41.981 41,981 33,726 97 97 21,231 34,252 10,826 27,531 50.532 13.725 24.084 50,532 13.725 24,084 Premlses costs Amortisatlon. depreciation. impairment, profitlloss on disposal of fixed assets General administrative costs 17.256 17,256 14,292 48.102 2.6(1 207,600 48,102 26,600 2,948 184,508 Legal and professional costs 207,600 12 Net income before transfers 2023 2022 This is stated after charging.. Depreciation of owned fixed assets Auditors, remuneration 13 Staff costs 17.256 14,292 1.200 2023 2022 Salaries and wages 46,332 46,332 30,052 30,052 No employee received emoluments in excess of £60,0. The average monthly number of full time equivalent employee5 during the year was as follows.. 2023 Number 2022 Number Church Office Pre-school P3Ée 16
RCCG- Llberty Christlan Connertlons Notes to the Ac¢ounts 14 T3n8lble fixed assets Land and l)uildings Offl¢e & Church Equlpment Motor Furniture & Fitti Vehlcle Total Q)st or revaluatton At l January 2023 Additions 1.750.867 122.683 29.113 151.796 $4,881 1.928,431 29,113 1,957,544 At 31 December 2023 Depreclatlon and impairment At l January 2023 Depreciation charge for the year At 31 December 2023 1,750,867 54.881 PAI.935 39,460 120,395 14.172 3,084 17,256 95.107 42,544 137,651 Net book values At 31 December 2023 1.750.867 1.750.867 56,689 41,748 12,337 15,421 1.819,893 I.B08.036 At 31 December 2022 15 Debtors 2023 2022 Other debtors Prepayments and accrued income 15.747 16,066 31.813 16,950 30,425 47,375 16 Credltors: amounts fallinB due within one year 2023 2022 Trade creditors Other taxes and social security Other creditors Accruals 39.241 11,954 14,329 3.913 17451 2,409 19,906 13.750 64.945 Mortgage is secured on the Church Building 17 Credltors: amounts falling due after more than one year 2023 2022 Bank loans and overdrafts Other loans 667.880 216.654 884,534 696,434 254,374 950,808 Page 17
RCCG - Liberty Christian Connections Notes to the Accounts 18 Movement In funds Incoming resouffes (including other At l January galnsllosses 2023 At31 December 2023 Resources expended Reslrlcted funds: Unrestricted funds: General funds 1.014.456 469,281 1467,2621 1.016.475 Total fund5 19 Analysis of net assets between funds 1.014.456 469,281 1467,2621 1,016,475 Unrestrlrted lunds Restricted funds Total Fixed assets Net current assets 1,819.893 81.116 1,819,893 81,116 Creditors due in more than one year and provisions {26,8701 1857,6641 1884,5341 1.874,139 1857,6641 1.016.475 20 Reconclllatlon ot net debt At31 At l January 2023 December Cash flows 2023 Cash and cash equivalents 129.759 129.759 115,5111 115,5111 114,248 114,248 Borrowings Bank loans 1254,3741 1696,4341 1950,8081 37,720 28.554 66,274 1216,6541 1667,8801 1884,5341 Net debt 1821,0491 50.763 1770,2861 Page 18
RCCG- Ilberty Chrlstlan Connertions Detalled Statement of Flnanclal Artlvltles lor the year ended 31 December 2023 Unrestricted funds Total funds 2023 2023 Total funds 2022 Income and endowments Irom: Donation5 and legacies Voluntary Income 277,590 277,590 277.590 277.590 331,334 331,334 Charstsble activltles Charitable Activwties 85.108 85,108 85,108 85,108 64.716 64,716 Other trading attivities Bookshop Pre School 242 242 335 58,103 58.438 56,548 56.790 56.548 56.790 Investments Bank Interest 43 43 43 59 43 59 Other Gift Aid Claimed 49,750 49.750 64,399 10.909 75,308 49,750 49,750 Total Income and endowments 469.281 469,281 529,855 Expendlture on: Costs of generating donations and legacies Voluntary Income 88.492 88.492 88,492 88,492 81,353 81,353 Costs of other trading activities Pre School 60.705 60.705 60.705 60,705 52.635 52,635 Total of expenditure on raising funds 149,197 149,197 133,988 Charitable activitles Charitable Activities 53.633 17.169 39.663 110.465 53,633 17,169 39,663 110,465 27,086 Grants made 48,056 75,142 Total of expenditure on charitable activities 110,465 110,465 75,142 Other expenditure Bookshop 9.223 9.223 13,102 Page 19
RCCG- L5berty Chrlstlan Connertlons Oetalled Statement of Financial Acilvltie$ Bank loan an(1 overdraft interest payable Other interest Payable 41.981 41,981 33,726 97 97 21,231 68,059 51,301 51,301 Employee costs Salarieslwages Temporary staff 46.332 4.200 50.532 46.332 4,200 50,532 30,052 4,200 34.252 Motor and travel cost5 Vehicles General costs Vehicles- Insurance and licences Fares 5,494 5,332 8.687 29 13.725 8.687 29 13,725 10,826 Premises costs Rates 667 13,308 667 1,197 20,178 Light, heat and power Premises repairs and maintenance 13,308 10,109 10,109 6,156 24.084 24,084 27,531 General adminlstrative costs. including depreciation and amortisation Depreciation of Office & Church Equipment Depreciation of Motor Vehicle Depreciation of Furniture & Fittings Bank charges Equipment expensed General insurances Information and publication5 Postage and courier5 Software, IT support and related costs 14.172 14.172 10,437 3.084 3,855 2.894 218 2,894 218 3.320 2.279 196 2,279 196 112 1,872 200 112 237 12.550 12.550 6,759 Stationery and printing Subscriptions Sundry expenses Telephone. fax and broadband 2.594 7.432 14.380 5.447 65,358 2,594 7,432 14,380 5,447 65,358 3,333 2,533 479 7,867 40.892 Legal and professional costs Auditllndependent examination fees Consultancy fees 2.5 2,500 2,500 i(x) loo 448 2,600 2,948 Total of expenditure of other Costs T¢)tsl expendlture 207.600 207,600 184,508 467,262 467,262 393,638 Page 20
RCCG - Llberty Chrlstlan Connertlons Detailed Statement of Financial Activities Net gains on investments Net income 2.019 2,019 136.217 Net Income before other zalnsl{lossesl Other Gains 2.019 2,019 136,217 Net movement in fund$ 2.019 2,019 136,217 Recondllatlon ot funds: Total funds brought fonmard 1.014,456 1,014,456 878,239 Total funds carried forward 1.016,475 1,016,475 1,014,456 Page 21