**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.
Page 2
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: -
1. 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.
2. Charity Support: At year end, the church supported the operation Christmas child by donating clothes, shoes, stationeries and toys to Children in Need.
3. 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.
4. 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.
Page 3
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:
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.
Simon Alder MAAT Hadley & Co Chartered Accountants Adelphi Chambers 30 Hoghton Street Southport PR9 0NZ
26th October 2021
Page 5
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
Page 6
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|
Page 8
continued...
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|
Page 9
continued...
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**|
|---|---|---|
Page 10
continued...
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|
|---|---|
Page 11
continued...
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.
Page 12
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
Page 13