REGISTERED CHARITY NUMBER: 1112168
Trustees' Report and
Unaudited Financial Statements
for the Year Ended 31 December 2023
for Amazing Grace Parish Church
Bennett Brooks & Co Ltd Adelphi Chambers 30 Hoghton Street Southport Merseyside PR9 0NZ
Amazing Grace Parish Church
Contents of the Financial Statements for the year ended 31 December 2023
| Page | |||
|---|---|---|---|
| Reference and Administrative Details | 1 | ||
| Trustees' Report | 2 | to | 3 |
| Independent Examiner's Report | 4 | ||
| Statement of Financial Activities | 5 | ||
| Balance Sheet | 6 | ||
| Notes to the Financial Statements | 7 | to | 11 |
| Detailed Statement of Financial Activities | 12 |
Amazing Grace Parish Church
Reference and Administrative Details for the year ended 31 December 2023
TRUSTEES
Deaconess T Odusanya Dr D Adebayo Miss J Bwire (deceased 22.6.24) Dr (Mrs) A Babajide Dr O A Kehinde
PRINCIPAL ADDRESS 135 Pendlebury Drive, Leicester LE2 69GU
REGISTERED CHARITY NUMBER 1112168
INDEPENDENT EXAMINER Bennett Brooks & Co Ltd Adelphi Chambers 30 Hoghton Street Southport Merseyside PR9 0NZ
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Amazing Grace Parish Church
Trustees' Report
for the year ended 31 December 2023
The trustees present their report with the financial statements of the charity for the year ended 31 December 2023. 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 and De Monfort University). 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.
ACHIEVEMENT AND PERFORMANCE
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' – which consist of Youths in the church; ages 16 above, the children’s church; LOVE Group – women group of the church and MOVERS Fellowship – the men’s group. 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 charity further provides pastoral care for students and offers mentoring possibilities by more matured members of the church.
Additional Outreach/Community Engagement Activities
The Church engaged in a range of outreach/community engagement activities as follows:
- Community Outreaches: The Church had several outreaches it provides to the community every year. This consist of an annual games/chill out Saturday. This has been very popular withing the community as it brings families together on a Saturday afternoon to have a relaxed time where activities are free for all and a lot of fun and games involved. The occupants of the residency across the church have also found this beneficial for their residents as it helps improve their mental health support.
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Amazing Grace Parish Church
Trustees' Report
for the year ended 31 December 2023
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The church had series of activities for the children, we have the annual children; week, the children’s bible club during the summer and weekly children church services. These activities are developed to build the faith of children in and outside of the church environment. The activities also provide learning and recreational activities for those not necessarily church inclined.
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Christmas Programmes: The Church organised a Christmas carol service on Christmas day and also visited a care in the community. The Church presented gifts in addition to singing carols to the residents of the care home.
FINANCIAL REVIEW
As at 31 December 2023, the charity had a net income of £249,935 unrestricted funds and a further £146,195 restricted funds. £169,110 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 community outreaches 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 can deliver. This will enable us provide weekly services to the community at large. We aim to have an additional building attached to the building that currently hosts us. We are under the planning stage process and hope to get the planning permission to begin the new building. We believe that this will allow for provision of more community-related activities within a premises that is unrestrictive in having our outreaches.
STRUCTURE, GOVERNANCE AND MANAGEMENT
RCCG Amazing Grace Parish is a charitable trust governed by its Trust Deed. The charity is part of the Redeemed Christian Church of God, a network of churches with which it has an agreement for common purpose.
Control of the Trust, its property and funds, is by the Trustees, who are expected to subscribe to the statement of faith of the Trust. Appointment of new charity trustees is by resolution of the existing trustees. The Trustees meet at least three times a year, but the day-to-day management of the Charity is delegated to the ministerial team consisting of church ministers and departmental heads, all of whom are volunteers.
Approved by order of the board of trustees on ..............31/10/2024................. and signed on its behalf
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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 31 December 2023.
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
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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.
Bennett Brooks & Co Ltd
Bennett Brooks & Co Ltd Adelphi Chambers 30 Hoghton Street Southport Merseyside PR9 0NZ
Date: 31 Oct 2024
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Amazing Grace Parish Church
Statement of Financial Activities for the year ended 31 December 2023
| Unrestricted Restricted fund fund Notes £ £ INCOME AND ENDOWMENTS FROM Donations and legacies (2) - Charitable activities Christian Worship 94,245 16,000 Investment income 2 - 2,001 Total 94,243 18,001 EXPENDITURE ON Charitable activities Christian Worship 66,810 - Other - 26,075 Total 66,810 26,075 NET INCOME/(EXPENDITURE) 27,433 (8,074) RECONCILIATION OF FUNDS Total funds brought forward 222,502 154,269 TOTAL FUNDS CARRIED FORWARD 249,935 146,195 |
2023 Total funds £ (2) 110,245 2,001 112,244 66,810 26,075 92,885 19,359 376,771 396,130 |
2022 Total funds £ 1 120,541 161 120,703 71,569 2,936 74,505 46,198 330,573 376,771 |
|---|---|---|
The notes form part of these financial statements
Page 5
Amazing Grace Parish Church
Balance Sheet 31 December 2023
| Unrestricted fund Notes £ FIXED ASSETS Tangible assets 5 503,681 CURRENT ASSETS Debtors 6 - Cash at bank 77,991 77,991 CREDITORS Amounts falling due within one year 7 (39,086) NET CURRENT ASSETS 38,905 TOTAL ASSETS LESS CURRENT LIABILITIES 542,586 CREDITORS Amounts falling due after more than one year 8 (292,651) NET ASSETS 249,935 FUNDS 10 Unrestricted funds Restricted funds TOTAL FUNDS |
Restricted fund £ 47,876 15,624 109,090 124,714 (320) 124,394 172,270 (26,075) 146,195 |
2023 Total funds £ 551,557 15,624 187,081 202,705 (39,406) 163,299 714,856 (318,726) 396,130 249,935 146,195 396,130 |
2022 Total funds £ 536,222 1,697 194,207 195,904 (33,928) 161,976 698,198 (321,427) 376,771 222,502 154,269 376,771 |
|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on ...........31/10/2024....................... and were signed on its behalf by:
The notes form part of these financial statements
Page 6
Amazing Grace Parish Church
Notes to the Financial Statements for the year ended 31 December 2023
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 straight-line 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
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Deposit account interest | 2,001 | 161 |
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022.
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.
continued...
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Amazing Grace Parish Church
Notes to the Financial Statements - continued for the year ended 31 December 2023
4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | Restricted | Total | ||
|---|---|---|---|---|
| fund | fund | funds | ||
| £ | £ | £ | ||
| INCOME AND ENDOWMENTS FROM | ||||
| Donations and legacies | 1 | - | 1 | |
| Charitable activities | ||||
| Christian Worship | 89,512 | 31,029 | 120,541 | |
| Investment income | - | 161 | 161 | |
| Total | 89,513 | 31,190 | 120,703 | |
| EXPENDITURE ON | ||||
| Charitable activities | ||||
| Christian Worship | 71,569 | - | 71,569 | |
| Other | - | 2,936 | 2,936 | |
| Total | 71,569 | 2,936 | 74,505 | |
| NET INCOME | 17,944 | 28,254 | 46,198 | |
| RECONCILIATION OF FUNDS | ||||
| Total funds brought forward | 204,558 | 126,015 | 330,573 | |
| TOTAL FUNDS CARRIED FORWARD | 222,502 | 154,269 | 376,771 | |
| 5. | TANGIBLE FIXED ASSETS | |||
| COST | Freehold property £ |
Portacabin £ |
Church Equipment £ |
|
| At 1 January 2023 | 481,174 | 27,000 | 34,134 | |
| Additions | 20,876 | - | 86 | |
| At 31 December 2023 | 502,050 | 27,000 | 34,220 | |
| DEPRECIATION | ||||
| At 1 January 2023 | - | - | 12,758 | |
| Charge for year | - | - | 5,627 | |
| At 31 December 2023 | - | - | 18,385 | |
| NET BOOK VALUE | ||||
| At 31 December 2023 | 502,050 | 27,000 | 15,835 | |
| At 31 December 2022 | 481,174 | 27,000 | 21,376 |
continued...
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Amazing Grace Parish Church
Notes to the Financial Statements - continued for the year ended 31 December 2023
| 5. TANGIBLE FIXED ASSETS - continued Multimedia £ COST At 1 January 2023 8,781 Additions - At 31 December 2023 8,781 DEPRECIATION At 1 January 2023 2,109 Charge for year - At 31 December 2023 2,109 NET BOOK VALUE At 31 December 2023 6,672 At 31 December 2022 6,672 6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other debtors 7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Bank loans and overdrafts (see note 9) Trade creditors Other creditors 8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR Bank loans (see note 9) 9. LOANS An analysis of the maturity of loans is given below: Amounts falling due within one year on demand: Bank loans Amounts falling between one and two years: Bank loans - 1-2 years Amounts falling due in more than five years: Repayable by instalments: Bank loans more 5 yr by instal |
Vehicle £ 4,750 - 4,750 4,750 - 4,750 - - 2023 £ 15,624 2023 £ 31,392 1 8,013 39,406 2023 £ 318,726 2023 £ 31,392 125,569 193,157 |
Totals £ 555,839 20,962 576,801 19,617 5,627 25,244 551,557 536,222 2022 £ 1,697 2022 £ 31,392 2 2,534 33,928 2022 £ 321,427 2022 £ 31,392 125,569 195,858 |
|---|---|---|
continued...
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Amazing Grace Parish Church
Notes to the Financial Statements - continued for the year ended 31 December 2023
10. MOVEMENT IN FUNDS
| MOVEMENT IN FUNDS | |||
|---|---|---|---|
| Net | |||
| movement | At | ||
| At 1.1.23 | in funds | 31.12.23 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 222,502 | 27,433 | 249,935 |
| Restricted funds | |||
| Restricted | 154,269 | (8,074) | 146,195 |
| TOTAL FUNDS | 376,771 | 19,359 | 396,130 |
| Net movement in funds, included in the above are as follows: | |||
| Unrestricted funds | Incoming resources £ |
Resources expended £ |
Movement in funds £ |
| General fund | 94,243 | (66,810) | 27,433 |
| Restricted funds | |||
| Restricted | 18,001 | (26,075) | (8,074) |
| TOTAL FUNDS | 112,244 | (92,885) | 19,359 |
| Comparatives for movement in funds | |||
| Unrestricted funds | At 1.1.22 £ |
Net movement in funds £ |
At 31.12.22 £ |
| General fund | 204,558 | 17,944 | 222,502 |
| Restricted funds | |||
| Restricted | 126,015 | 28,254 | 154,269 |
| TOTAL FUNDS | 330,573 | 46,198 | 376,771 |
| Comparative net movement in funds, included in the above are as follows: | |||
| Unrestricted funds | Incoming resources £ |
Resources expended £ |
Movement in funds £ |
| General fund | 89,513 | (71,569) | 17,944 |
| Restricted funds | |||
| Restricted | 31,190 | (2,936) | 28,254 |
| TOTAL FUNDS | 120,703 | (74,505) | 46,198 |
continued...
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Amazing Grace Parish Church
Notes to the Financial Statements - continued for the year ended 31 December 2023
10. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 1.1.22 | in funds | 31.12.23 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 204,558 | 45,377 | 249,935 |
| Restricted funds | |||
| Restricted | 126,015 | 20,180 | 146,195 |
| TOTAL FUNDS | 330,573 | 65,557 | 396,130 |
| A current year 12 months and prior year 12 months combined net movement in funds, | included in the above | are as follow | |
| Unrestricted funds | Incoming resources £ |
Resources expended £ |
Movement in funds £ |
| General fund | 183,756 | (138,379) | 45,377 |
| Restricted funds | |||
| Restricted | 49,191 | (29,011) | 20,180 |
| TOTAL FUNDS | 232,947 | (167,390) | 65,557 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
11. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2023.
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Amazing Grace Parish Church
Detailed Statement of Financial Activities for the year ended 31 December 2023
| Unrestricted Restricted funds funds £ £ INCOME AND ENDOWMENTS Donations and legacies Offering,Tithes & Thanksgiving (2) - Investment income Deposit account interest - 2,001 Charitable activities Offering,Tithes & Thanksgiving 94,245 1,206 Gift aid on donations - 13,927 Building fund - 867 94,245 16,000 Total incoming resources 94,243 18,001 EXPENDITURE Charitable activities Rent, Rates & Utilities - - Insurance 1,715 - Light and heat 9,498 - Telephone & Internet 978 - Church Outreach 2,831 - Van Maintenance 2,196 - Transportation Expenses 589 - Equipment - - Training 615 - Children & Youth Expenses 967 - Mission Work Expenses 6,485 - Social Activities 479 - Church Running Expenses 7,195 - Gifts & Honorarium 4,200 - Transfer to Central Office 2,430 - Transfer to WEM Account 19,179 - Accountancy fees 594 - Womens Fellowship 782 - Subscriptions 277 - Legal fees - - Valuation fee - - Building repairs - - Mens fellowship 173 - Depn of plant & machinery 5,627 - Bank Charges - - 66,810 - Other Bank loan interest - 26,075 Total resources expended 66,810 26,075 Net income 27,433 (8,074) |
2023 Total funds £ (2) 2,001 95,451 13,927 867 110,245 112,244 - 1,715 9,498 978 2,831 2,196 589 - 615 967 6,485 479 7,195 4,200 2,430 19,179 594 782 277 - - - 173 5,627 - 66,810 26,075 92,885 19,359 |
2022 Total funds £ 1 161 85,265 11,975 23,301 120,541 120,703 7,543 475 - 748 5,731 2,026 1,386 157 (30) 651 3,064 - 3,174 849 3,020 16,380 360 - 297 1,865 1,510 8,298 - 7,012 7,053 71,569 2,936 74,505 46,198 |
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This page does not form part of the statutory financial statements
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