REGISTERED CHARITY NUMBER: 1112168
Trustees' Report and
Unaudited Financial Statements for the Year Ended 31st December 2020
for Amazing Grace Parish Church
Hadley & Co Chartered Accountants Adelphi Chambers 30 Hoghton Street Southport PR9 0NZ
Amazing Grace Parish Church
Contents of the Financial Statements for the Year Ended 31st December 2020
| Page | |
|---|---|
| Reference and Administrative Details | 1 |
| Trustees' Report | 2 to 4 |
| Independent Examiner's Report | 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 |
| Notes to the Financial Statements | 8 to 12 |
| Detailed Statement of Financial Activities | 13 |
Amazing Grace Parish Church
Reference and Administrative Details for the Year Ended 31st December 2020
TRUSTEES
PRINCIPAL ADDRESS
REGISTERED CHARITY NUMBER
INDEPENDENT EXAMINER
Dr O A Kehinde Deaconess T Odusanya Chair Miss J Bwire Secretary Dr D Adebayo Mrs A Babajide
Brice Memorial Hall Queens Road Leicester Leicestershire LE2 3FL
1112168
Hadley & Co Chartered Accountants Adelphi Chambers 30 Hoghton Street Southport PR9 0NZ
Page 1
Amazing Grace Parish Church
Trustees' Report for the Year Ended 31st December 2020
The trustees present their report with the financial statements of the charity for the year ended 31st December 2020. 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
Redeemed Christian Church of God (RCCG) Amazing Grace Parish Leicester is a community based charity fostering the Christian experience among both young and old. The charity is part of RCCG worldwide; with which it has an agreement of common purpose. In pursuance of its objectives, the charity trustees have given regard to the Charity Commission's guidance on public benefit.
The church has a mixed population of families and university students mainly from one of the two local universities (University of Leicester). As such, the membership often experiences fluctuations in relation to the university calendar and activities are prepared to account for the core members who are based in Leicester as well as transient members.
The principal activities of the church are Christian Worship, outreaches to increase Christian awareness and spread Gospel of our Lord Jesus Christ as well as engaging in community-related activities. Essentially, the church has a vision to promote excellence by equipping individuals to be the best they can be through their spiritual, mental and physical development.
Volunteers
The charity is grateful for the unrelenting efforts of its volunteers who regularly donate their services to the development and activities of the church. It is estimated that over 10,000 volunteer hours were provided during the year, which if valued according to minimum wage, would have cost at least £50,000.00.
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Amazing Grace Parish Church
Trustees' Report for the Year Ended 31st December 2020
ACHIEVEMENT AND PERFORMANCE
The charity provides pastoral care for students and offers mentoring possibilities by more matured members of the church.
The charity provides an environment in which healthy relationships are developed and fostered. This is achieved through subgroups within the church which are open to members and non-members alike and which endeavour to cater for different age and gender groupings. For instance, 'The Pillarz Fellowship' - youths, LOVE Group - women and MOVERS Fellowship - Men. During university term time, the church organises fortnightly Youth Variety nights that are held on Saturdays and affords young people an alternative meeting environment with a range of activities such as quiz competitions, computer gaming and career developments talks.
The Covid-19 pandemic affected the church services, all our services had to move to virtual service because of the lockdown. However, when the restrictions were lifted, our Sunday services resumed back in the building while midweek services remained online.
During the year, the amount of giving (tithes & offerings) reduced but so did expenses as well as we were no longer meeting physically.
Additional Outreach/Community Engagement Activities
The Church engaged in a range of outreach/community engagement activities as follows: -
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Community Street Fair: The Church participated in the biannual street fair held in June and December by taking a stall and used the opportunity to familiarise the community members with purposes and provisions of the church - however, this did not take place in 2020 because of the Covid pandemic.
-
Charity Support: At year end, the church supported the operation Christmas child by donating clothes, shoes, stationeries and toys to Children in Need.
-
The church had a series of activities directed towards children. These were the children's week and the bible club - an outreach to children to build the faith of children already involved in church and provide learning and recreational activities for those not necessarily church inclined.
-
Christmas Programmes: The Church organised a Christmas carol concert which was held online because of the pandemic. It was a success, a lot of people engaged in the festivity.
FINANCIAL REVIEW
As at 31 December 2020, the charity had a net income of £176,041 unrestricted funds and a further £114,145 restricted funds. £140,735 is retained as a reserve fund and consists of funds raised from donors specifically for procuring a place of worship as well as funds set aside by the charity, a sum equivalent to funds received from the gift aid scheme, towards a new church building. As at the time of approving the report and accounts, the charity remains viable and continues as a going concern. The charity continues to be primarily funded by voluntary donations from the church membership and by freewill donations by church attendants.
FUTURE PLANS
The future plan of the charity is to continue to demonstrate its presence in the community and provide essential spiritual service for the community through continued participation in the biannual street fair as well as seek other opportunities to engage with organisations and residents in the local community. Furthermore, we are expecting collaborative opportunities with similar organisations to be more effective in the quality of services we are able to deliver.
The charity is avidly interested in procuring a building of its own, which will be in close proximity of the current local environment. It is believed that this will allow for provision of more community-related activities within a premises that is not being shared and hence of limited use.
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Amazin Grace Parish Church Trustees, Re for the Year Ended 31 st December 2020 STRUCTURE. GOVERNANCE AND MANAGEMENT RCCG Amazing Grace Parish is a charitable trust govemed by rts Trust Deed. The charity is part of the Redeemed Christian Church of Gc#J, a neork of ¢hur¢hes wth whh it has an agreement for common purpose. Control of the Trust, its propety and funds, is by the Trustees, who are expected to Subscribe lo the statement of faith of the Trust. Appointment of new charity trustees is by resolution of the existing Iru51ees. The Tnjstees meet at least three limes a year, bul the day-to-day management of the Charity is delegated to the ministerial team consisting of church ministers and departmental heads, all of whom a volunteers. Approvod by order of the board of trustees on ... . and signed on its behalf by.. Mrs A Bab e - Trustee Page 4
Independent Examiner's Report to the Trustees of Amazing Grace Parish Church
Independent examiner's report to the trustees of Amazing Grace Parish Church
I report to the charity trustees on my examination of the accounts of Amazing Grace Parish Church (the Trust) for the year ended 31st December 2020.
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:
-
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
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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.
Simon Alder MAAT Hadley & Co Chartered Accountants Adelphi Chambers 30 Hoghton Street Southport PR9 0NZ
26th October 2021
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Amazing Grace Parish Church
Statement of Financial Activities for the Year Ended 31st December 2020
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Charitable activities Christian Worship 53,487 Investment income 2 124 Total 53,611 EXPENDITURE ON Charitable activities Christian Worship 23,997 NET INCOME 29,614 RECONCILIATION OF FUNDS Total funds brought forward 146,427 TOTAL FUNDS CARRIED FORWARD 176,041 |
Restricted fund £ 10,727 - 10,727 - 10,727 103,418 114,145 |
31.12.20 31.12.19 Total Total funds funds £ £ 64,214 61,602 124 281 64,338 61,883 23,997 33,296 40,341 28,587 249,845 221,258 290,186 249,845 |
31.12.20 31.12.19 Total Total funds funds £ £ 64,214 61,602 124 281 64,338 61,883 23,997 33,296 40,341 28,587 249,845 221,258 290,186 249,845 |
|---|---|---|---|
| 61,883 33,296 |
|||
| 28,587 221,258 |
|||
| 249,845 |
The notes form part of these financial statements
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Gr Parith Chun 31 31.1220 31.12.19 Totsl funds FIXED ASSETS Tangib18 assets 2.768 cuRREr ASSETS Debtors Cash at bank 8.681 8.681 1.321 246.803 183.876 298,021 248.124 CREDITORS Amounts falling due wilhii year 110.761) (10.761) (1,047) NEf CURRElff ASSErs 11{145 247 077 TOTAL ASSEfs LESS CURRENT LIABILrriES 17&041 111145 290,186 249.845 NEf ASSETS 17 11 041 145 290 186 FUNDS Unrestricted funds Restricted funds 176.041 146,427 103.418 TOTAL FUNDS 290.186 249.845 2.*..10. ia..2011.. aThJ wwe its lhall by. A Babajide- TNstee
Amazing Grace Parish Church
Notes to the Financial Statements for the Year Ended 31st December 2020
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 calculated to write off cost less estimated residual value of fixed assets on a straightline basis over their estimated useful lives.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds are general funds and 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 Church. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
The donations received have been donated specifically for this purpose and the gift aid received has also been assigned towards this fund.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. INVESTMENT INCOME
| INVESTMENT INCOME | ||
|---|---|---|
| 31.12.20 | 31.12.19 | |
| £ | £ | |
| Deposit account interest | 124 | 281 |
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Amazing Grace Parish Church
Notes to the Financial Statements - continued for the Year Ended 31st December 2020
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31st December 2020 nor for the year ended 31st December 2019.
Trustees' expenses
The charity’s trustees give their time freely and receive no remuneration for the work that they undertake as trustees. However, they can claim expenses to reimburse them for costs that they incur in fulfilling their duties.
4.
| COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund £ INCOME AND ENDOWMENTS FROM Charitable activities Christian Worship 48,457 Investment income 281 Total 48,738 EXPENDITURE ON Charitable activities Christian Worship 33,296 NET INCOME 15,442 RECONCILIATION OF FUNDS Total funds brought forward 130,985 TOTAL FUNDS CARRIED FORWARD 146,427 |
Restricted fund £ 13,145 - 13,145 - 13,145 90,273 103,418 |
Total funds £ 61,602 281 |
|---|---|---|
| 61,883 33,296 |
||
| 28,587 221,258 |
||
| 249,845 |
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Amazing Grace Parish Church
Notes to the Financial Statements - continued for the Year Ended 31st December 2020
| 5. TANGIBLE FIXED ASSETS Church Equipment Multimedia £ £ COST At 1st January 2020 6,287 441 Additions 1,769 - At 31st December 2020 8,056 441 DEPRECIATION At 1st January 2020 3,519 441 Charge for year 1,611 - At 31st December 2020 5,130 441 NET BOOK VALUE At 31st December 2020 2,926 - At 31st December 2019 2,768 - 6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other debtors 7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other creditors 8. MOVEMENT IN FUNDS At 1.1.20 £ Unrestricted funds General fund 146,427 Restricted funds Restricted 103,418 TOTAL FUNDS 249,845 |
Vehicle £ 4,750 - 4,750 4,750 - 4,750 - - 31.12.20 £ 8,681 31.12.20 £ 10,761 Net movement in funds £ 29,614 10,727 40,341 |
Totals £ 11,478 1,769 13,247 8,710 1,611 10,321 2,926 2,768 31.12.19 £ 1,321 31.12.19 £ 1,047 At 31.12.20 £ 176,041 114,145 290,186 |
|---|---|---|
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Amazing Grace Parish Church
Notes to the Financial Statements - continued for the Year Ended 31st December 2020
8. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Incoming resources £ Unrestricted funds General fund 53,611 Restricted funds Restricted 10,727 TOTAL FUNDS 64,338 Comparatives for movement in funds At 1.1.19 £ Unrestricted funds General fund 130,985 Restricted funds Restricted 90,273 TOTAL FUNDS 221,258 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 48,738 Restricted funds Restricted 13,145 TOTAL FUNDS 61,883 |
Resources Movement expended in funds £ £ (23,997) 29,614 - 10,727 (23,997) 40,341 Net movement At in funds 31.12.19 £ £ 15,442 146,427 13,145 103,418 28,587 249,845 Resources Movement expended in funds £ £ (33,296) 15,442 - 13,145 (33,296) 28,587 |
|---|---|
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Amazing Grace Parish Church
Notes to the Financial Statements - continued for the Year Ended 31st December 2020
8. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund Restricted funds Restricted TOTAL FUNDS |
At 1.1.19 £ 130,985 90,273 221,258 |
Net movement in funds £ 45,056 23,872 68,928 |
At 31.12.20 £ 176,041 114,145 290,186 |
|---|---|---|---|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 102,349 | (57,293) | 45,056 |
| Restricted funds | |||
| Restricted | 23,872 | - | 23,872 |
| TOTAL FUNDS | 126,221 | (57,293) | 68,928 |
9. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31st December 2020.
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Amazing Grace Parish Church
Detailed Statement of Financial Activities for the Year Ended 31st December 2020
| Detailed Statement of Financial Activities for the Year Ended 31st December 2020 |
|||||
|---|---|---|---|---|---|
| 31.12.20 | 31.12.19 | ||||
| Unrestricted | Restricted | Total | Total | ||
| funds | funds | funds | funds | ||
| £ | £ | £ | £ | ||
| INCOME AND ENDOWMENTS | |||||
| Investment income | |||||
| Deposit account interest | 124 | - | 124 | 281 | |
| Charitable activities | |||||
| Offering,Tithes & Thanksgiving | 53,487 | 1,149 | 54,636 | 50,836 | |
| Gift aid on donations | - | 8,683 | 8,683 | 7,826 | |
| Building fund | - | 895 | 895 | 2,940 | |
| **53,487 ** | 10,727 | 64,214 | 61,602 | ||
| Total incoming resources | 53,611 | 10,727 | 64,338 | 61,883 | |
| EXPENDITURE | |||||
| Charitable activities | |||||
| Rent, Rates & Utilities | 5,449 | - | 5,449 | 9,896 | |
| Insurance | 243 | - | 243 | 1,031 | |
| Telephone & Internet | 649 | - | 649 | 344 | |
| Church Outreach | 458 | - | 458 | 1,382 | |
| Van Maintenance | 1,204 | - | 1,204 | 256 | |
| Transportation Expenses | 117 | - | 117 | 396 | |
| Training | 245 | - | 245 | 1,071 | |
| Children & Youth Expenses | 133 | - | 133 | 2,508 | |
| Christmas expenses | 160 | - | 160 | - | |
| Mission Work Expenses | 400 | - | 400 | - | |
| Social Activities | 60 | - | 60 | 826 | |
| Church Running Expenses | 914 | - | 914 | 2,597 | |
| Gifts & Honorarium | 1,446 | - | 1,446 | 1,800 | |
| FOL | - | - | - | 200 | |
| Transfer to Central Office | 720 | - | 720 | 720 | |
| Transfer to WEM Account | 9,714 | - | 9,714 | 8,102 | |
| Donations | 114 | - | 114 | 550 | |
| Accountancy fees | 360 | - | 360 | 360 | |
| Depn of plant & machinery | 1,611 | - | 1,611 | 1,257 | |
| **23,997 ** | - | **23,997 ** | 33,296 | ||
| Total resources expended | **23,997 ** | - | **23,997 ** | 33,296 | |
| Net income | 29,614 | 10,727 | 40,341 | 28,587 |
This page does not form part of the statutory financial statements
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