**REGISTERED CHARITY NUMBER: 1103581** ## **Report of the Trustees and** ## **Financial Statements for the Year Ended 31 December 2022** ## **for** ## **RCCG Living Faith Connections** Stan Kelly & Co Chartered Certified Accountants 14 Centre Way London N9 0AH **RCCG Living Faith Connections** ## **Contents of the Financial Statements for the Year Ended 31 December 2022** |||**Page**|| |---|---|---|---| |**Report of the Trustees**|1|to|4| |**Independent Examiner's Report**||5|| |**Statement of Financial Activities**||6|| |**Balance Sheet**||7|| |**Notes to the Financial Statements**|8|to|13| |**Detailed Statement of Financial Activities**|14|to|15| **RCCG Living Faith Connections** ## **Report of the Trustees** ## **for the Year Ended 31 December 2022** The trustees present their report with the financial statements of the charity for the year ended 31 December 2022. 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 2019). ## **OBJECTIVES AND ACTIVITIES Objectives and aims** The Objects of the charity are: - The advancement of the christian religion worldwide ; and - The relief of poverty worldwide. Public benefit statement In determine how best to pursue theses objectives, the trustees have taken on board the charity commission's general guidance on public benefit and in particular its supplementary public guidance on the advancement of religion for the public benefit. .It pursues these objectives by the operation of a centre for christian worship at its premises in Barking, Essex. We have several community based initiatives that focus on assisting the disadvantaged and the less privileged in our local community and the UK.. Our site is accessible to all when programmes are being run and events cater for people from all works of life. . This includes youths, children, single, married, men and women. ## **Significant activities** Living faith Connections has a policy of supporting up and coming small businesses within the community. Under the agreement for common purposes (see above), Living Faith Connections parish has agreed to make annual contribution to RCCG (UK). In addition, the church supports missionary organisations such as Festival of Life and the World Evangelical Mission, African Mission and other missions and projects within and outside the UK. The church also provides support to members of the congregation ( at the discretion of the trustees) who are in need. ## **Volunteers** Living Faith Connections is grateful for the efforts of its volunteers who are involved in service provision. It is estimated that about 5000 volunteer hours were provided during the period. If this is conservatively valued at £10 per hour. the volunteer efforts amount to £50,000. The charity ensures that best value is derived from the sterling efforts of its volunteer team. Page 1 **RCCG Living Faith Connections** ## **Report of the Trustees** **for the Year Ended 31 December 2022** ## **ACHIEVEMENT AND PERFORMANCE Charitable activities Impacting our community:** As a purpose driven church, we are a beacon and a lighthouse to our community, we emphasize the importance of Relationships of service, Generosity & love to our members. Most importantly, we strive to make our Community Flourish through: Building of relationships with individuals and institutions in the community. Pursuing our goals through social action and outreach to serve the under privileged, deprived, destitute and those who feel rejected. Providing platforms for people to connect with each other through worship, music, drama etc. Strengthening the faith of Christians through sound biblical teaching, fellowship and prayer. Promoting and encouraging other initiatives that adds to the growth and development of the community. We believe that we have been sent to this part of the world to bring the gospel with its attendant message and assurance of comfort, victory and hope to people through active engagement. ## **Charitable Achievements:** As part of our aim for community growth and engagement, we operate an open door policy for all projects and initiatives run by the council and other organizations within the community. But, did our best to engage and support people within the community through: Community Event - We encouraged all our members to carry out community engagements as a family which we showcased regularly during our services. Some of the initiatives included: Donation and engagement with the homeless, prayer walks, hospital visits and donations, chatting to those who needed encouragement and someone to talk with Community Engagement - We resumed our physical church and retained the online church to support those who were still unable to attend due to health issues or were just not comfortable in doing so. Prayer Line: We held a daily prayer line where people could join in to pray for themselves, their families, the community, nation, and the world at large. Conferences & Events: Different conferences and events were held online; (financial seminar, family life, marriage. health etc.) throughout the year. The topics are always relevant, interesting, and engaging with several breakup groups to address individual questions and to provide support. ## **Investment performance** The trustees have decided that at present, funds should be retained in banks and building societies. Any changes in such banking arrangements should be agreed by the board. As far as possible, funds will be retained in interest bearing accounts. Page 2 **RCCG Living Faith Connections** ## **Report of the Trustees** ## **for the Year Ended 31 December 2022** ## **ACHIEVEMENT AND PERFORMANCE** ## **Internal and external factors** Factors relevant to achieving objectives The other single most important factor is the commitment from members both financially and in voluntary hours. ## **FINANCIAL REVIEW** ## **Financial position** During the year, the total income generated was £111,812 ( 2021: £116,564). The Charity made a surplus of £95 for the year ended 31 December 2022 ( 2021: deficit of £7,745). After taking account of the operations, the charity's available funds stood at £50,212 for the year ended 31 December 2022 (£50,307 as at 31 December 2021). ## **Principal funding sources** The charity's principal funding is through members' voluntary contributions and donations . ## **Reserves policy** The trustees are aware of the requirement to have a reserve policy in place and aim to maintain a target balance of a month's worth of fixed operational cost at any given time, to ensure on going delivery of its charitable objects during an unforeseen down turn in income. The trustees are fully aware that the current level of the unrestricted fund is below the required level. The trustees have plans in hand to address this situation and restore the reserves to the level required. This will be achieved, amongst other initiatives by cutting cost wherever possible, whilst most of our reserves have been used up during the year because of the economic climate. ## **Going concern** The charity is still trading despite the challenges experienced during the year. ## **FUTURE PLANS** Living Faith Connections continues to explore ways of evangelising in an effective manner by raising its profile and getting more involved in the community. The charity aims to provide services and activities that are relevant to people on a foundation of christian tenets and beliefs in a bid to effect change in the moral and spiritual climate of the local borough and the country at large. Some of its plans include: . Working more with the council to develop more community projects. . The charity aims at reaching out to the youth by opening a youth centre and creating space for the elderly. This will build a happier community and impact the society. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Governing document** The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity. ## **Recruitment and appointment of new trustees** New trustees are appointed on the basis of the contribution they will make to the governance of the organisation and the skills that they will contribute. They are provided with copies of the Charity Commission's guidance to trustees and given an introduction to the activities of the charity by the existing board. Page 3 **RCCG Living Faith Connections** ## **Report of the Trustees** ## **for the Year Ended 31 December 2022** ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Organisational structure** The church is organised so that the trustees meet regularly to manage its affairs. The minister in charge manages the day to day administration of the church. Connected charities - Living Faith Connections is a parish of the Redeemed Christian Church of God - a network comprised of churches all over the world. There is an agreement for common purpose entered into by Living Faith Connections with the Redeemed Christian Church of God which documents this relationship. ## **Induction and training of new trustees** Policies adopted for the induction and training of trustees. Existing trustees are provided with trainings as and when required. ## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number** 1103581 ## **Principal address** 301 Long Riding Basildon Essex SS14 1QR ## **Trustees** Pastor O Odugbile Mr C T Adeoye Mr O Osadugba Mr E Adeyemi Approved by order of the board of trustees on ............................................. and signed on its behalf by: .......................................................................... Pastor O Odugbile - Trustee Page 4 ## **Independent Examiner's Report to the Trustees of RCCG Living Faith Connections** ## **Independent examiner's report to the trustees of RCCG Living Faith Connections** I report to the charity trustees on my examination of the accounts of RCCG Living Faith Connections (the Trust) for the year ended 31 December 2022. ## **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 ('the Act'). I report in respect of my examination of the Trust'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 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 Trust as required by Section 130 of the 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. Dr Emmanuel Oloke , FCCA Stan Kelly & Co Chartered Certified Accountants 14 Centre Way London N9 0AH 5 November 2023 Page 5 **RCCG Living Faith Connections** ## **Statement of Financial Activities** ## **for the Year Ended 31 December 2022** |||**31.12.22**|31.12.21| |---|---|---|---| |||**Unrestricted**|Total| |||**fund**|funds| ||||as restated| ||Notes|**£**|£| |**INCOME AND ENDOWMENTS FROM**|||| |Donations and legacies||**111,812**|116,564| |**EXPENDITURE ON**|||| |**Charitable activities**|||| |Charitable activities||**103,997**|112,425| |Other||**7,720**|11,884| |**Total**||**111,717**|124,309| |**NET INCOME/(EXPENDITURE)**||**95**|(7,745)| |**RECONCILIATION OF FUNDS**|||| |Total funds brought forward||**(50,307)**|(42,562)| |**TOTAL FUNDS CARRIED FORWARD**||**(50,212)**|(50,307)| The notes form part of these financial statements Page 6 **RCCG Living Faith Connections** ## **Balance Sheet** ## **31 December 2022** |**31.12.22**
**Unrestricted**
**fund**
as
Notes
**£**
**FIXED ASSETS**
Tangible assets
6
**131,939**
**CURRENT ASSETS**
Cash at bank and in hand
**(21,984)**
**CREDITORS**
Amounts falling due within one year
7
**(160,167)**
**NET CURRENT ASSETS/(LIABILITIES)**
**(182,151)**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**(50,212)**
**NET ASSETS/(LIABILITIES)**
**(50,212)**
**FUNDS**
9
Unrestricted funds
**(50,212)**
**TOTAL FUNDS**
**(50,212)**|31.12.21
Total
funds
restated
£
131,939
(17,929)
(164,317)
(182,246)
(50,307)
(50,307)
(50,307)
(50,307)| |---|---| The financial statements were approved by the Board of Trustees and authorised for issue on 5 November 2023 and were signed on its behalf by: Pastor O Odugbile - Trustee Mr C T Adeoye - Trustee The notes form part of these financial statements Page 7 **RCCG Living Faith Connections** **Notes to the Financial Statements for the Year Ended 31 December 2022** ## **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. |Improvements to property|- 10% on cost| |---|---| |Plant and machinery|- 20% on cost| |Fixtures and fittings|- 20% on cost| |Computer equipment|- 20% 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. continued... Page 8 **RCCG Living Faith Connections** **Notes to the Financial Statements - continued for the Year Ended 31 December 2022** ## **2. TRUSTEES' REMUNERATION AND BENEFITS** One trustee was engaged as a pastor and paid £39,846.88 as stipend and allowance for the year ended 31 December 2022. ( £36,970 for the year ended 31 December 2021). ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 31 December 2022 nor for the year ended 31 December 2021. ## **3. STAFF COSTS** The average monthly number of employees during the year was as follows: ||**31.12.22**|31.12.21| |---|---|---| |||as restated| |Management
and support staff|**1**|2| |No employees received emoluments in excess of £60,000.||| |**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**||| |||Unrestricted| |||fund| |||as restated| |||£| |**INCOME AND ENDOWMENTS FROM**||| |Donations and legacies||116,564| |**EXPENDITURE ON**||| |**Charitable activities**||| |Charitable activities||112,425| |Other||11,884| |**Total**||124,309| |**NET INCOME/(EXPENDITURE)**||(7,745)| |**RECONCILIATION OF FUNDS**||| |Total funds brought forward||(42,562)| |**TOTAL FUNDS CARRIED FORWARD**||(50,307)| ## **4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES** continued... Page 9 **RCCG Living Faith Connections** ## **Notes to the Financial Statements - continued for the Year Ended 31 December 2022** ## **5. PRIOR YEAR ADJUSTMENT** This relates to expected gift aid debtors amount which did not materilalised due to incorrect reclaim in the past years. This has now been written back against overstated surplus and deficit account brought forward. ## **6. TANGIBLE FIXED ASSETS** |Improvements
to
property
£
**COST**
At 1 January 2022 and 31 December 2022
**199,419**
**DEPRECIATION**
At 1 January 2022 and 31 December 2022
**78,690**
**NET BOOK VALUE**
At 31 December 2022
**120,729**
At 31 December 2021
120,729
Motor
vehicles
£
**COST**
At 1 January 2022 and 31 December 2022
**40,910**
**DEPRECIATION**
At 1 January 2022 and 31 December 2022
**40,910**
**NET BOOK VALUE**
At 31 December 2022
**-**
At 31 December 2021
-|Plant and
machinery
£
**26,060**
**26,060**
**-**
-
Computer
equipment
£
**58,365**
**58,355**
**10**
10|Fixtures
and
fittings
£
**97,049**| |---|---|---| |||**85,849**| |||**11,200**| |||11,200| |||Totals
£
**421,803**| |||**289,864**| |||**131,939**| |||131,939| continued... Page 10 **RCCG Living Faith Connections** |**Notes to the Financial Statements- continued**
**for the Year Ended 31 December 2022**
**7.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade creditors
Other creditors
**8.**
**LOANS**
An analysis of the maturity of loans is given below:
Amounts falling due within one year on demand:
Other loans
**9.**
**MOVEMENT IN FUNDS**
**Unrestricted funds**
General fund
**TOTAL FUNDS**
Net movement in funds, included in the above are as follows:
**Unrestricted funds**
General fund
**TOTAL FUNDS**|
At 1.1.22
£
**(50,307)**
**(50,307)**
Incoming
resources
£
**111,812**
**111,812**|**31.12.22**
31.12.21
as restated
**£**
£
**1**
1
**160,166**
164,316
**160,167**
164,317
**31.12.22**
31.12.21
as restated
**£**
£
**5,099**
5,849
Net
movement
At
in funds
31.12.22
£
£
**95**
**(50,212)**
**95**
**(50,212)**
Resources
Movement
expended
in funds
£
£
**(111,717)**
**95**
**(111,717)**
**95**| |---|---|---| continued... Page 11 **RCCG Living Faith Connections** ## **Notes to the Financial Statements - continued** **for the Year Ended 31 December 2022** ## **9. MOVEMENT IN FUNDS - continued** **Comparatives for movement in funds** |At 1.1.21
£
**Unrestricted funds**
General fund
(42,562)
**TOTAL FUNDS**
(42,562)
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
116,564
**TOTAL FUNDS**
116,564
A current year 12 months and prior year 12 months combined position is as follows:
At 1.1.21
£
**Unrestricted funds**
General fund
(42,562)
**TOTAL FUNDS**
(42,562)|Net
movement
At
in funds
31.12.21
£
£
(7,745)
(50,307)
(7,745)
(50,307)
Resources
Movement
expended
in funds
£
£
(124,309)
(7,745)
(124,309)
(7,745)
Net
movement
At
in funds
31.12.22
£
£
(7,650)
(50,212)
(7,650)
(50,212)| |---|---| A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |**Unrestricted funds**
General fund
**TOTAL FUNDS**|Incoming
resources
£
228,376
228,376|Resources
Movement
expended
in funds
£
£
(236,026)
(7,650)
(236,026)
(7,650)| |---|---|---| continued... Page 12 **RCCG Living Faith Connections** ## **Notes to the Financial Statements - continued for the Year Ended 31 December 2022** ## **10. CONTINGENT LIABILITIES** There is a potential liability of £213,970.89 arising from HMRC discovery assessments on past gift aid returns. This matter is not conclusive as there are on going discussions and agreements on the above amounts and claims.This matter has not progressed beyond this position since 31 December 2019. ## **11. RELATED PARTY DISCLOSURES** There were no related party transactions for the year ended 31 December 2022. Page 13 **RCCG Living Faith Connections** |**Detailed Statement of Financial Activities**||| |---|---|---| |**for the Year Ended 31 December 2022**||| ||31.12.22|31.12.21| |||as restated| ||£|£| |**INCOME AND ENDOWMENTS**||| |**Donations and legacies**||| |Tithes and offerings|**111,812**|116,194| |Donations|**-**|370| ||**111,812**|116,564| |**Total incoming resources**|**111,812**|116,564| |**EXPENDITURE**||| |**Charitable activities**||| |Hall hire|**18,658**|9,808| |World evangelical mission|**2,525**|1,625| |Honorariums -guest ministers|**1,050**|-| |Community outreach activities|**-**|750| |Pastoral care|**-**|1,500| |Church running expenses|**3,875**|5,884| |RCCG central office|**2,330**|1,200| |Transport and travelling|**730**|571| |Music expenses|**20,550**|20,200| |Media expenses|**7,693**|4,642| |Stipend and allowance|**39,847**|36,970| ||**97,258**|83,150| |**Other**||| |Hire of plant and machinery|**240**|1,050| |Storage cost|**6,580**|7,045| |Plant and machinery|**-**|1,796| |Computer equipment|**-**|1,093| ||**6,820**|10,984| |**Support costs**||| |**Management**||| |Wages|**-**|21,750| |Insurance|**761**|711| |Telephone|**1,474**|1,484| ||**2,235**|23,945| |**Finance**||| |Bank charges|**2,773**|2,384| |Carried forward|**2,773**|2,384| This page does not form part of the statutory financial statements Page 14 **RCCG Living Faith Connections** |**Detailed Statement of Financial Activities**||| |---|---|---| |**for the Year Ended 31 December 2022**||| ||31.12.22|31.12.21| |||as restated| ||£|£| |**Finance**||| |Brought forward|**2,773**|2,384| |Cards merchant cost|**1,283**|2,400| ||**4,056**|4,784| |**Information technology**||| |IT Support|**448**|426| |**Governance costs**||| |Legal fees|**-**|120| |Independent examiner's fees|**900**|900| ||**900**|1,020| |Total resources expended|**111,717**|124,309| |**Net income/(expenditure)**|**95**|(7,745)| This page does not form part of the statutory financial statements Page 15