Charity registration number: 1111874
## RCCG Kings Court Chapel
Annual Report and Financial Statements for the Year Ended 31 December 2022
Michael J Emery & Co Limited Chartered Accountants 22 St John Street Newport Pagnell Buckinghamshire MK16 8HJ
## **RCCG Kings Court Chapel**
## **Contents**
|Reference and Administrative Details|1|
|---|---|
|Trustees' Report|2 to 3|
|Statement of Trustees' Responsibilities|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 Kings Court Chapel**
## **Reference and Administrative Details**
**Trustees** Mrs Omobolanle Sarah Williams Mr Adegbemiga Oluwatundemilade Adewumi Mr Olurotimi Abayomi Odeniran Mr Akinola Salami **Senior Management Team** Mr Sola Ewedemi Mrs Tumise Ewedemi **Principal Office** Aurora House Deltic Avenue Rooksley Milton Keynes Buckinghamshire MK13 8LW **Charity Registration Number** 1111874 **Bankers** Barclays Bank 737 Barking Road LONDON E13 9PL **Independent Examiner** Michael J Emery & Co Limited Chartered Accountants 22 St John Street Newport Pagnell Buckinghamshire MK16 8HJ
Page 1
## **RCCG Kings Court Chapel**
## **Trustees' Report**
The trustees present the annual report together with the financial statements of the charity for the year ended 31 December 2022.
## **Objectives and activities**
## _**Objects and aims**_
On 1 January 2020 the charity's objects were adopted by an incorporated successor charity - Redeemed Christian Church of God (RCCG) Kings Court Chapel (Company no. 12012176 / Charity no. 1184375). Since that date all charitable activities have been carried out through the incorporated charity and the trust has remained dormant.
## _**Public benefit**_
The charity's activities are aimed at meeting the physical and spiritual needs of the local community and promoting the faith. From 1 January 2020 onwards, these activities have been carried out through the incorporated sucessor charity Redeemed Christian Church of God (RCCG) Kings Court Chapel (Company no. 12012176 / Charity no. 1184375).
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
## **Structure, governance and management**
## _**Nature of governing document**_
The charity is controlled by its governing document, a deed of trust, and constitutes an unincorporated charity.
The charity is controlled by a declaration of Trust dated 21st september 2005.
## **Relationships with related parties**
## **Redeemed Christian Church of God (RCCG) Kings Court Chapel - Company no. 12012176 / Charity no. 1184375**
Since 1 January 2020 the main operations of the church are being conducted through the incorporated charity Redeemed Christian Church of God (RCCG) Kings Court Chapel. The aims and objectives of the charity remain unchanged.
The lease on the premises used by the charity for its main charitable activities expired in May 2022 and was held in the name of the charitable trust up to this date. The new lease commenced on 31 May 2022 and is held in the name of the incorporated charity. To facilitate the continued payment of the rent a single bank account has been designated for the use of the charitable trust. Funds are transferred into this account from the incorporated charity to cover the quarterly rent and service charge payments. Apart from holding the premises lease and facilitating rent payments, the charitable trust has remained dormant throughout 2022 and 2021.
The annual report was approved by the trustees of the charity on .................... and signed on its behalf by:
Page 2
## **RCCG Kings Court Chapel**
## **Trustees' Report**
......................................... Mrs Omobolanle Sarah Williams Trustee
......................................... Mr Olurotimi Abayomi Odeniran Trustee
Page 3
## **RCCG Kings Court Chapel**
## **Statement of Trustees' Responsibilities**
The trustees are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
The law applicable to charities requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources 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 Charities SORP;
- make judgements and 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; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records that 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 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the constitution. The trustees 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.
Approved by the trustees of the charity on .................... and signed on its behalf by:
......................................... Mrs Omobolanle Sarah Williams Trustee
......................................... Mr Olurotimi Abayomi Odeniran Trustee
Page 4
## **RCCG Kings Court Chapel**
## **Independent Examiner's Report to the trustees of RCCG Kings Court Chapel**
I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 December 2022 which are set out on pages 6 to 13.
## **Respective responsibilities of trustees and examiner**
As the charity’s trustees of RCCG Kings Court Chapel 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 RCCG Kings Court Chapel's accounts 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 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 RCCG Kings Court Chapel 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 accounting 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.
...................................... Michael Emery ACA
## ICAEW
22 St John Street Newport Pagnell Buckinghamshire MK16 8HJ
Date:.............................
Page 5
## **RCCG Kings Court Chapel**
## **Statement of Financial Activities for the Year Ended 31 December 2022**
|**Note**
**Income and Endowments from:**
Other income
**Expenditure on:**
Charitable activities
Total Expenditure
Net movement in funds
**Reconciliation of funds**
Total funds carried forward
10
**Note**
**Income and Endowments from:**
Other income
**Expenditure on:**
Charitable activities
Total Expenditure
Net movement in funds
**Reconciliation of funds**
Total funds carried forward
10|**Unrestricted**
**funds**
**£**
42,527
42,527
42,527
-
-
**Unrestricted**
**funds**
**£**
71,049
71,049
71,049
-
-|**Total**
**2022**
**£**
42,527
42,527|
|---|---|---|
|||42,527|
|||-|
|||-|
|||**Total**
**2021**
**£**
71,049
71,049|
|||71,049|
|||-|
|||-|
All of the charity's activities derive from continuing operations during the above two periods.
Page 6
## **RCCG Kings Court Chapel**
## **(Registration number: 1111874) Balance Sheet as at 31 December 2022**
|**Note**
**Current assets**
Cash at bank and in hand
**Creditors: Amounts falling due within one year**
8
**Net assets/(liabilities)**
**Funds of the charity:**
**Total funds**
10|**2022**
**£**
67
(67)
-
-|**2021**
**£**
65
(65)|
|---|---|---|
|||-|
|||-|
The financial statements on pages 6 to 13 were approved by the trustees, and authorised for issue on .................... and signed on their behalf by:
......................................... Mrs Omobolanle Sarah Williams Trustee
......................................... Mr Olurotimi Abayomi Odeniran Trustee
Page 7
## **RCCG Kings Court Chapel**
## **Notes to the Financial Statements for the Year Ended 31 December 2022**
## **1 Accounting policies**
## **Statement of compliance**
The financial statements have been prepared in accordance with 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) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
## **Basis of preparation**
RCCG Kings Court Chapel meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
## **Exemption from preparing a cash flow statement**
The charity opted to early adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements.
## **Going concern**
All of the assets and liabilities of RCCG Kings Court Chapel were transferred to a newly incorporated charity (Redeemed Christian Church of God (RCCG) Kings Court Chapel - Charity no. 1184375) by way of a gift on 1 January 2020. The trust remained dormant throughout the year ended 31 December 2022, and the year ended 31 December 2021.
## **Income and endowments**
## **Expenditure**
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources.
## _**Charitable activities**_
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
## **Support costs**
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources.
Page 8
## **RCCG Kings Court Chapel**
## **Notes to the Financial Statements for the Year Ended 31 December 2022**
## **Cash and cash equivalents**
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
## **Trade creditors**
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
## **2 Other income**
|Rental income
**3**
**Expenditure on charitable activities**
Physical and spiritual needs|**Unrestricted**
**funds**
**General**
**£**
42,527
**Activity**
**support costs**
**£**
42,527|**Total**
**2022**
**£**
42,527
**Total**
**2022**
**£**
42,527|**Total**
**2021**
**£**
71,049|
|---|---|---|---|
||||**Total**
**2021**
**£**
71,049|
Physical and spiritual needs
£42,527 (2021 - £71,049) of the above expenditure was attributable to unrestricted funds and £Nil (2021 - £Nil) to restricted funds.
## **4 Analysis of expenditure**
## **Support costs allocated to charitable activities**
Rent
|**Governance**
**costs**
**£**
42,527|**Total**
**2022**
**£**
42,527|**Total**
**2021**
**£**
71,049|
|---|---|---|
Page 9
## **RCCG Kings Court Chapel**
## **Notes to the Financial Statements for the Year Ended 31 December 2022**
## **5 Net incoming/outgoing resources**
Net incoming/outgoing resources for the year include:
|Operating leases - other assets|**2022**
**£**
42,527|**2021**
**£**
71,049|
|---|---|---|
## **6 Trustees remuneration and expenses**
No trustees, nor any persons connected with them, have received any remuneration from the charity during the year. No trustees have received any reimbursed expenses or any other benefits from the charity during the year.
## **7 Taxation**
The charity is a registered charity and is therefore exempt from taxation.
## **8 Creditors: amounts falling due within one year**
|Other creditors|**2022**
**£**
67|**2021**
**£**
65|
|---|---|---|
## **9 Obligations under leases and hire purchase contracts**
## **Operating lease commitments**
Total future minimum lease payments under non-cancellable operating leases are as follows:
|**Land and buildings**
Within one year|**2022**
**£**
-|**2021**
**£**
33,766|
|---|---|---|
Page 10
## **RCCG Kings Court Chapel**
## **Notes to the Financial Statements for the Year Ended 31 December 2022**
## **10 Funds**
|**10 Funds**|||||
|---|---|---|---|---|
|General
General|**Balance at 1**
**January 2022**
**£**
-|**Incoming**
**resources**
**£**
42,527
**Incoming**
**resources**
**£**
71,049|**Resources**
**expended**
**£**
(42,527)
**Resources**
**expended**
**£**
(71,049)|**Balance at 31**
**December**
**2022**
**£**
-|
|||||**Balance at 31**
**December**
**2021**
**£**
-|
The specific purposes for which the funds are to be applied are as follows:
General fund:
This is an unrestricted fund that can be used at the discretion of the trustees to further the purposes of the charity.
Page 11
## **RCCG Kings Court Chapel**
## **Notes to the Financial Statements for the Year Ended 31 December 2022**
## **11 Analysis of net assets between funds**
|**11 Analysis of net assets between funds**|||
|---|---|---|
|Current assets
Current liabilities
Total net assets
Current assets
Current liabilities
Total net assets|**Unrestricted**
**funds**
**General**
**£**
67
(67)
-
**Unrestricted**
**funds**
**General**
**£**
65
(65)
-|**Total funds**
**£**
67
(67)|
|||-|
|||**Total funds at**
**31 December**
**2021**
**£**
65
(65)|
|||-|
Page 12
## **RCCG Kings Court Chapel**
## **Notes to the Financial Statements for the Year Ended 31 December 2022**
## **12 Financial instruments**
## **Categorisation of financial instruments**
|**Categorisation of financial instruments**|||||
|---|---|---|---|---|
||**2022**||**2021**||
||**£**||**£**||
|Financial liabilities measured at amortised cost||67||65|
## **13 Related party transactions**
During the year the charity made the following related party transactions:
## **Redeemed Christian Church of God (RCCG) Kings Court Chapel - Company no. 12012176 / Charity no. 1184375**
Since 1 January 2020 the main operations of the church are being conducted through the incorporated charity Redeemed Christian Church of God (RCCG) Kings Court Chapel. The aims and objectives of the charity remain unchanged.
The lease on the premises used by the charity for its main charitable activities expired in May 2022 and was held in the name of the charitable trust up to this date. The new lease commenced on 31 May 2022 and is held in the name of the incorporated charity. To facilitate the continued payment of the rent a single bank account has been kept open in the charitable trust's name. Funds are transferred into this account from the incorporated charity to cover the quarterly rent and service charge payments. Apart from holding the premises lease and facilitating rent payments, the charitable trust has remained dormant throughout 2022 and 2021 . At the balance sheet date the amount due to Redeemed Christian Church of God (RCCG) Kings Court Chapel - Company no. 12012176 / Charity no. 1184375 was £67 (2021 - £65).
Page 13
## **RCCG Kings Court Chapel**
## **Detailed Statement of Financial Activities for the Year Ended 31 December 2022**
|**Income and Endowments from:**
Other income (analysed below)
Total income
**Expenditure on:**
Charitable activities (analysed below)
Total expenditure
Net income/(expenditure)
**Reconciliation of funds**
Total funds carried forward|**Total**
**2022**
**£**
42,527
42,527
(42,527)
(42,527)
-
-|**Total**
**2021**
**£**
71,049|
|---|---|---|
|||71,049|
|||(71,049)|
|||(71,049)|
|||-|
|||-|
Page 14
## **RCCG Kings Court Chapel**
## **Detailed Statement of Financial Activities for the Year Ended 31 December 2022**
|**_Other income_**
Rental income
**_Charitable activities_**
Rent|**Total**
**2022**
**£**
42,527
42,527
42,527
42,527|**Total**
**2021**
**£**
71,049|
|---|---|---|
|||71,049|
|||71,049|
|||71,049|
Page 15