**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
Page 1
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:
1. 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.
Page 2
Amazing Grace Parish Church
## Trustees' Report
for the year ended 31 December 2023
2. 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.
3. 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
Page 3
## **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:
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.
Bennett Brooks & Co Ltd
Bennett Brooks & Co Ltd Adelphi Chambers 30 Hoghton Street Southport Merseyside PR9 0NZ
Date: 31 Oct 2024
Page 4
## **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...
Page 7
## **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...
Page 8
**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...
Page 9
**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...
Page 10
**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.
Page 11
## **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|
|---|---|---|
This page does not form part of the statutory financial statements
Page 12