Rhem8 Fahh mi1#trIeS •nd#l S¢•tements for the y¢8r ended 28 Febrn•ry 2021
Rbema F#ttb Ministrles Fin8Dcial StstemeDts for the ye*r eDded 28 February I21 ConteDts Page R¢ference and ad[nin1[alIve detsils Independent examin&s reixxt Statement of financial artivities Balance she Notes to the financial ststements 718
Rhem Faith Ministrits Flu¢[$] Stgttments for the yur ud¢d 28 Febrn 2021 Rtferen¢¢ •dmintstratlvt del#Us Charity rwme Rhema Faith Ministries Charity reBistr10n ttumbe¥ 1111867 Governin8 instnunent DlartI of Tntst dad l 0 2CQ5 Trustres Tfaye Khdatie Yoseph Adm&$5U Abdje Wondim MilikÈt Daniel Ktterna Secrdary to the Trustees Rev D Dak7¢ Trust objertive5 •) the &dv&neement of the Christian faith. b) the relief of person5 who ar¢ in ¢onditiOnS of ne•J, hardship or distress or are aged or sick. c} the wovisicffi of instruction in the Christian faith at y edu¢ional ¢stablishmeni. Prin¢ipg] &ddr¢ss 10 Slaidburn Strttt W¢st Bromirton London swio ojp Bpnkers HSBC 16 Shepherds Bush GTeen Shepherds Bush HSBC POBox103 33 P8rk Row W128FT LSI ILD Nwe$l I Si Philips Pl*e Birmingham B3 2PP Kingdom Bank Ruddington Fields Ruddington, Nottingham NGI16JS Indyndertt examiner Gltshis PaTk¢r Acwuntin8 Servtces 16 He8th Avenue Halifax HX3 OEA Page 1
Rhema Faith Ministrks FIDancial St¥temeDts for the yr ellded 28 Febrnary 2021 Report ofthe Trnstees The Tntses present th¢Rr Re{ al Fitioncial Ststements fwthe year ended 28 February 2021. strnetu gov¢rnJhce and 8ement Rthema F4iih Ministries CO11 ty a Declaration of Tnjst dated l OdobEr 2(Kl5. The obje¢tives of the Charity aTe.'- •) The advancement of the Chrbstioll faith: b) The relief of persons who are in cortdKiions of ljarthhip or distress. or who are aged or si¢k' c) The provision of insInl0 in the Chrimian faith at any edUclOnal e5tsblislmienÉ. Trusteej The TnL8tees who seTved during the yeor w¢re.'. Tesfaye Kidane Yoseph Admassu Ab¢b¢ Wondim Milikit Daniel Ketema Any persort bein8 a rnember of the Church accepts th¢ Siaiemem of D(trI of the Church. may be appointed io the TnleeshiP by th¢ Yecognis¢d spirill1 leaders of the Church. Any new Tn]siee is given an introduciion to the work of th¢ Charity by the Secretary of the Truses and given a ¢opy of the Charity Commission guidelines CC3a CCIO, tO8ether with on explanation of the role of a Trustee. The Trust¢es have reviewed the thquw of the Choritys orrent inn8] controls and are confident that these controls ¢onfmn with guidelines issued by th¢ Charity Conmissi Trustw responslbllltles Charity law requires the TnL%ttts to prepare fmancial ststements for each financi year which gives a true and fair view of the stale of affairs of the Charity and of its finan¢i81 activities for that period. In preparing those finan¢ial ststernents th¢ Trustee5 are required to: a) select Suit4ble accounting policies and apply them consistently. b) make judgements and estimale5 that are Teasonable pnthnL ) state whether ihe policies adopted are ID accordance with the chartties SORP and with applicable a¢¢ounting standards, subject to any material depart disclosed and explained in the finan¢ial statements. d) prepare th¢ f11 Stai¢m on the gottcOncern isis unle&s it is inapprnm w assume the Charity will continue operating. The Trte¢S are r¢4M)nsible for ke¢pin8 proper re&)rds whi¢h disclose wtth rea90b)e accuracy at any lime the financial position of the Charity and to enable them to ensure that the fllJan¢ial ststements cornply with the Cbark¢ie5 Act 1993. They aTe also resFxJnsTble for safeguarding the ets of the Charity and hence for tsking re&sonable sps for the Frtvention of fraud or ¢Aher irregularities. Reserves wblicy The Trtee& have revied the ChaTity$ needs for reswves ID Itne with the guidance issued by the Charity Commission and consider it prudent tlLqt eStrIctej r¢serveg should be suffi¢i¢nt to avoid th¢ n¢c¢$5ity to re&lise fixed &ssets. The TnL8tees are confident that fjjth in¢ will ble the Clwiry to meet its fore8¢cabie needs on the b&8is of planTd tIVity. Page 2
Rheml Fkh Mltttstrles FIDantllll Stateme•ts for the year ended 28 Febrnary 2021 Report Df tke Tryst¢¢s (eontinu¢d) Review of progress Amd #thlev¢m¢nts Rherna Faith Ministrie5' IRFM) objectiye is to spread the good D¢WS of the gos of ChTiSt 8nd io equip en¢ourag¢ believers to a¢complish God'$ purrA)5c in their lif¢. The seven UK bTan¢hes. London, Birniinghw POIL10uth, Man. W Coventy #nd Stoke. on-Trent are under the leadership of Fekadu Rehoknth Bey¢n¢. The seven intemalional bTanches- Ethiopi4 EritTe& Sudan. lthly, Norway. C4nada and th¢ USA . are under the leadership of Z¢wdie GebrtselassiK the fow)der of IiFM. Rhema Faith Ministries Consid¢r the Ptsor IRFMCP} assists iMp0vShed children in Ethiopia and is under the lef44ership of Yd8)$ A Tesfay. RFM interacrs with the London Ethioptan Eritreati Evangeli} Allian conngXin8 thern to other Ethiopian and Eriirean churchts. Throughout the year RFM SUPPOrt the IL1 chuTrh¢5 with elwuBIng inspiring rnttting seminars, worksh¢)ps and leadership trainin8 offtred the intemd Plfonn wh¢n rtstriciions were in plt due to Covid 19 pandemic ond ott site when the rtstriaions were lifted. RFM also Thed out into their communiiies lo offer the muth-needed assiswice resulting from the Covid 19 lockdo9 Ind controls. RFM a positive wmmitinent to oppose all forms of discrimination withirt the Cknity #nd Its tneficiaries, workin8 towwds promoting equality foi ail. irrespective of eolour. nationalty, r¢li8iOn. g¢nder. ¢lass and 88e. Ltt xcordanrx with the Chri5ti#n belief tn th¢ Bible the word of Cjod. Full details of the financial trwhsactions are COTiiained in the attached aco)unts. Publle beD¢n¢ When p]anning activities the T have considered the Conunisslon's 8uidAnc¢ on publi¢ b¢n¢fit an in porti¢ulAr. the specifjc guidance on Charities for the thC&m¢nt of reli8iott. In porticular. the TnLStees try to ¢nabl¢ ordinary people to live out their faith as part of the community throu¥h'. 8) worship and prayer, Iwiin8 aboui the Gospel and d¢velopin8 their knowled8e and In Jesus: bl provision of p&thral care for people living in the community. c) mlssionary and outre#h work. Rtsk Th¢ Trustees give con51der1On lo the major risk5 to which th¢ awity is exposed and systems which are designed to mitigate those risks on an on80ing basis. SlgDed l>ehlf orth¢ Trnstees 29 November 2•21. Rev D Dc S¢tretsry to the Tt¢S
Rhem¥4 Fyéith MlnLqtries Finaneknl Ststements for the y¢r ended 28 Februry 2021 lttdepelld¢Dt Ex#rniDeT'S Reprt lo Iht Trnstee5 of lih¢DM Fith Mittistries I rep)rt on the Accounts of the Trust f( th¢ year endwj 28 Febnmry 2021 which are set out on pages 5108. Rfspeetive responyibllities of tStett and exawitter The charity's trljstees are reSPsible for the preparati of the accowits. Th¢ clmrity's twstees consider that an audit is requiTed for this year under section 144(2) of the Chariti¢s Act 2011 (the 2011 Act) and that an ind¢p•th examination is needttl It is my r¢sponsibilty to: a) examine the counts under sec¢ion 145 of th¢ 2011 Act b) to follow th¢ procedures laid do1 in the g¢neral Dire¢tion$ given by the wmmission seetion 145 (5) (b) of the 201 I Aci c) to whether particular rna¢t¢rs have come to my attenti Bts of lttdependen¢ ¢y•mIne5 report My ¢xomination was carried ou¢ irt accordanc¢ with the 8arnl Directions given by the Charity Commission. An examination includes a review of the xcijunting records kept by the ¢hariry and a comparison of the a¢counts pr¢s¢nted with thos¢ record& li also include5 consideration of any unusual iiems or disclosurns in the a¢¢ount& and seeking explanations frnm you as ITUStees concerning any such matters. The procedures undertaken do not provid¢ ttll the evidence that would be required in an 4udiL and consequently opinion is given as to whether the accounts preseni a and fair vie th¢ report is limiied to those matters set out in the next swemeDL Independent ¢x*mInt8 JtstemeDt In connection with my examination, no matter has eome to my att¢ntion' ]} which gives me reasonabl¢ cause to believe that in any material re5P¢¢t the requiremenis: a} to keep a¢ting record5 in accordance with Section 130 of the 2011 Aci arnl b) to prepare accounts which accord with the acwunting records and comply with the a¢¢ountin8 requirements of the 2011 Act have not been met or 2) io which, in my Opinio attention should be drawn in order to enabk a proper und¢rstaDding of the accounts to be reached. GleDls Parker Aceounting Serylces Halif85 Dated 29 Novemb¢r 21121 Page 4
Rh¢m8 Fmlth Mlniitrlej ststemetst of Fth•nelxl Aedvlttu for the year emded 28 F¢br•Ary 2021 Totsl Totsl FuDds 2020 2021 Incotnltsg resoyttes Voluntary in¢om¢ Investment ithcome 111.661 383 111,661 383 153.697 612 Tot*l Ineomlng rere¢S l 12,044 111044 154,309 Rewureu esptnded Costs of chariiabl¢ pctivities Gov¢rn8nce costs Other resour¢es expended 110.442 110.442 101.975 600 8,585 8.834 &834 Total reree8 expemded 119.276 119,276 111.160 N¢t l•eomlng rewureeg for th¢ ymr -7232 -7232 43,149 Net movm¢nt in funds in the financial y -7232 -7.232 43.149 Totsi Ilmds br8h1 forwwd 2,172 2W.172 247,023 Total Ild5 Tij forward 232.940 282.940 290,172
Rhema Fith MiDis¢r1¢5 BiADce Shee¢ 28 Febru•ry 2Q21 Totsl Funds 21)21 Tot1 F•0% F¥nd¥ 2020 Flxed Tangible &ssets 31571 31J71 31.205 CyTreDt assets B(M)kstsll st(Kk Debtor5 (Amounts thie within one year) C&sh at baDk and in hand 1289 1.289 1,289 18,752 240.844 18,752 240.844 45,140 244,931 260,885 260,885 291,360 T•tsl ¥4ssets 291456 292.456 321565 Less Cllrrent Ilblli¢i¢J C]tditors {amounts du¢ withill one ye4r) 9J16 9.516 32J93 Net assets 282.940 282.940 290.172 Reserv¢5 Balances brought foThvard Net incoming OurC(S for ye4r 2,172 -7232 2,172 -7.232 247,023 43.149 Bl#ees earried ftsrwrd 282.940 282.940 290,172 Th¢9¢ finADtial statemtmts were approved by the on 29 NrnlJ¢r 2fj21. Tesfye Kidane AbelJ¢ Wottdlm Miiik D*Dlel K¢tma Page 6
RheMa Faith MiDiStrles Flnanelal Ststewents for the ye•r ended 28 Febrn#ry 2021 Note5 to the Accounts l AttouDtlttg polleieg Basis of prepAration The financial statements have been prepared in aordance with applicable acwunting stalld8 ond Charitie5 sernent of R¢¢ommeTrled Prndi¢e (SORP 2(X)5). Fund a¢¢OUDtlng polky Unrestricted irwme fijnds are 8eneral funds that are avaslable for we atthe trust¢es' discrtion in furtherJn¢e of the obje¢tiv¢s of the charity. Restri¢t¢d funds are thos¢ donated for us¢ in a particular orea for spe¢ifi¢ purposed, the u3¢ of which is restricted to aYeA or purFK)s¢. IneorniTh% r¢JoureeJ Income from donations and gifts is brought inw xcount only when the income 1$ actsIlY rec¢ived. Re40urees expend¢d Liabilities are reco1$ed as soon &8 there is a leg41 obliwion n1Ing the charity to the expenditure. All exp¢ndÉwre is accounted for on an ¢nS basis and has been classified under helIng5 th41 awegaie all costs re141ed io the l¢gOry. Costs of 8eneratin8 fiJnd5 are the sts assled with attra¢¢ing voluntary inwm¢. Charitable ¢xpenditure ¢omwises those costs incurred by the charity in the delivery of its activities and Services for its beneficiaries. It include5 ¢osts that can be allocateAJ dire¢ily to such activities and those ¢osts of an indi1 nature De¢essary lo suptKMI them. Gov¢rnTrce costs Governan¢¢ ¢osts include costs of the and eXamition of accounts, th¢ eosts of trustees meetings •nd the cost of 4ny legal advice to trusteu gov¢rnence or ¢onMitutional Deprecl4tioD Depreciation 15 cal¢ul8ted to WTite do the cost of fixed &8SfAs over their exptl usefvl lives and 1$ therefore provided on the following ba8i5'. 25y( ots the written down value P7
Rhema Faith MlbL8trles FiTraneial Ststements for the year ended 28 F¢brn•ry 2021 Notes to the atCOUDts 21121 21120 2 St8ff costs Mtnistry support Averag¢ number of employ¢&% 24.563 21.777 2*121 2021J 3 lttdependent emItter 600 4 Seb¢dwl¢ of Tanglbie A&g¢ts - UDr¢strkt¢d ThDds Totsl 21121 Totsl 202 & •qtylp Cost Brought foTw4rd Additions Disp05als 98.544 9200 98,544 9,2(K) 94,346 4,198 107.744 107.744 98.544 DepreTi•tknn Brought forward Charge for y¢ar On disposal 67.339 8.834 67,339 8,834 58.754 8,585 76,173 76,173 67,339 Wrltten down v•lue Al 28 Febru 27 At 28 FebTW 2020 31,571 31205 31,571 31,205 31,205 35.592 20x1 5 Debtorn due within othe ye4r) Income t&x r¢VerAble 12,521 1,000 5,000 231 17.919 22,000 5,000 221 Reni deposit 18.752 45,140 2020 6 Crediton (amounts d¢ one year) Loans Accrujls 916 8,600 9,516 26,792 5,601 32,393 7 TransactioTrs wlth trnstees None of the tnL8tees received fees or during th¢ year (21Y20 - nil) Page 8
Rh¢m8 Mfinl1tS Stt¢mettt etlvttRs for the yr ended 28 FelJrnry 2•21 Tiihes and offerings Offerings for buildin8 Community 8r8nl In¢ome tax rKover¢d B(N)kstsil Inlere5t received (net) 91.938 118.759 18.835 16,103 19.723 383 612 112.044 154J09 Resourees expended Ministry support TrAining Gifts Conf¢rences and fun¢tLQ Cmnt exp¢ns¢5 Books ete Reni, rates and Wtr Buildirtg projert ¢xpense$ Lighi and h¢ Cleaning Trav¢llin8 expense5 Advertisin Telephone and int¢met Insurance Subs¢riptions Ac¢ountancy Independent ¢x8rnitt&s ft¢ Legal fees B8nk charges L08n interest P05ts8e. $tstion¢ry Brtd softwar¢ Repairs and renewals Depr¢ciation of tlxed 25.013 500 25J09 288 4235 21.Tn 665 14,227 3.685 5.095 37.159 37.234 5,143 276 3,345 3,984 6.602 3.626 5,469 956 3.625 102 235 8.585 (834 119276 .7232 111.160 43.149 Net In¢oDdg resourc¢s for lknaJ¢l*l ye•r Net tran5ferg between fithds Net movement im fund -7232 43.149 Balartex brought fonvard 29).172 247,023 282.940 290.172