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2021-03-31-accounts

THE REDEEMED CHRISTIAN CHURCH OF GOD AMAZING GRACE CHAPEL HULL

Charity Reg. No 1119496

TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

THE REDEEMED CHRISTIAN CHURCH OF GOD - AMAZING GRACE CHAPEL HULL

TRUSTEES AND FINANCIAL REPORT FOR YEAR ENDED 31 MARCH 2021

CONTENTS

CONTENTS PAGE
Reference and administrative details 2.
Trustee's report 3 - 7
Independent Examiner's 8.
Statement of Financial Activities 9.
Balance sheet 10.
Notes to the financial statements 11 - 16

Page 1

THE REDEEMED CHRISTIAN CHURCH OF GOD - AMAZING GRACE CHAPEL HULL

TRUSTEES AND FINANCIAL REPORT FOR YEAR ENDED 31 MARCH 2021

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS

Trustees Pastor M Bako Pastor O I Aleshinloye Pastor E Eneli Pastor E R Inwe: appointed 16 April 2021 Registered Charity Number 1119496 Correspondence Address 71/73 Beverly Road Hull East Yorkshire HU3 1XL Pastor in Charge Pastor Olumide I Aleshinloye Bankers NatWest Bank Plc Willerby and Kirk Ella (A) Branch The Square Willerby East Yorkshire HU10 7UA Accountant Akintayo Ojo FCCA Resource Management Consultants Limited Chartered Certified Accountant 46 Hollywood Way Erith DA8 2QE

Page 2

THE REDEEMED CHRISTIAN CHURCH OF GOD - AMAZING GRACE CHAPEL HULL

TRUSTEES AND FINANCIAL REPORT FOR YEAR ENDED 31 MARCH 2021

REPORT OF TRUSTEES

The Trustees present their annual report together with the financial statements of The Redeemed Christian Church of God Amazing Grace Chapel Hull (the Charity) for the year ended 31 March 2021 The trustees confirm that the annual report and financial statements of the charity have been prepared in accordance with the policies set out in note 1 to the accounts and comply with the charity's trust deed, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice (SORP) applicable in the UK and Republic of Ireland published on 16 July 2014

OBJECTIVES AND ACTIVITIES

The principal object is the advancement of Christian faith worldwide and relief of poverty. To promote any charitable activity for the benefit of the local people. To achieve this objective, the church adopted the following strategies:

STRATEGIES FOR ACHIEVING THE OBJECTIVES

The charity has adopted the following strategies for achieving the above objectives:

PUBLIC BENEFIT STATEMENT

The Board of Trustees confirm that they have met their duties in strict compliance with the provisions of section 4 and 17 of the Charities Act 2011 and have due regards to the Charity Commissions' general guidance on public benefit. Particular consideration has been given to the Charity Commission's supplemen public guidance provisions on the advancement of religion for public benefit.

PUBLIC BENEFITS

The Church's Sunday and mid-week services as well as prayer meetings are open to the general public to build on their Christian faith. Apart from its Church activities, the charity was involved in in the following public benefit efforts:

Page 3

THE REDEEMED CHRISTIAN CHURCH OF GOD - AMAZING GRACE CHAPEL HULL

TRUSTEES AND FINANCIAL REPORT FOR YEAR ENDED 31 MARCH 2021

REPORT OF TRUSTEES

PUBLIC BENEFITS

Our efforts are geared towards supporting the programmes of our local community, promoting cohesion in our community, and impacting the lives of the young people and the elderly.

STRUCTURE, GOVERNANCE AND MANAGEMENT

The Charity which also operates under the name Amazing Capel Hull was constituted by a trust deed dated 9 June 2006 and was registered with the Charity Commission as a charity in England and Wales 5 June 2007

APPOINTMENT OR ELLECTION OF TRUSTEES

Trustees are appointed or elected under the terms of the trust deed.

POLICIES ADOPTED FOR THE INDUCTION AND TRAINING OF NEW TRUSTEES

The induction process for newly appointed trustees comprises of an initial meeting with the Chair and other trustees, followed by short meetings with the Parish Pastor on the powers and responsibilities of the Trustees.

ntary

ORGANISATIONAL STRUCTURE AND DECISION MAKING

The charity is organised so that the Trustees meet regularly to manage its affairs. The Parish Pastor manages the day to day administration of the church with assistance from the ministers.

RELATED PARTY TRANSACTION

RCCG Amazing Grace Chapel Hull is a parish of The Redeemed Christian Church of God (RCCG) which has parishes all over the world. The parish's relationship with RCCG is governed by an 'Agreement for Common purposes'.

RISK MANAGEMENT

The Trustees have assessed the major risks to which the charity is exposed, in particular those relating to the operations and finances of the charity, and are satisfied that systems are in place to mitigate our exposures to major risks. However consultation and review of our systems are regularly undertaken, in order to ensure they remain up to date and effective.

Page 4

THE REDEEMED CHRISTIAN CHURCH OF GOD - AMAZING GRACE CHAPEL HULL

TRUSTEES AND FINANCIAL REPORT FOR YEAR ENDED 31 MARCH 2021

REPORT OF TRUSTEES

GRANT MAKING POLICY

The church supports visiting ministers of the gospel both within and outside the United kingdom. Support is also given to RCCG Central Office, World Evangelism Mission, Festival of Life and other RCCG programmes. The Church supports other charities and missionary that shares its objects on

GRANT MAKING POLICY

the advancement of Christian faith and relief of poverty. The church gives occasional welfare support to congregational members who are in need.

VOLUNTEERS

The church is grateful for the unstinting efforts of its volunteers who are involved in providing services for the charity. It is estimated that over 7800 hours are provided by volunteers during the year. If this is conservatively valued at £7.50 per hour, the volunteers effort will amount to over £58,500. Strategic training/development programmes were provided to the volunteers to enhance the quality of services they rendered to the Charity.

ACHIEVEMENT AND PERFORMANCE

REVIEW OF ACTIVITIES

The church continues to enjoy tremendous growth in its physical and spiritual life during the year, and in the advancement of Christian faith in accordance with the doctrines set out in the Statement of faith contained in our Trust Deed.

During the year the charity received grants from various organisation to provide needed services and run community oriented projects. Some of the grants providers are

INVESTMENT POLICY

The trustees have decided that at present, funds should be retained in banks and building societies, and as far as possible in interest bearing accounts. Having considered the powers of the trustees to further invest the funds of the charity, the trustees has agreed to invest in properties and the charity currently owns 3 flats comprising on 2 two bedroom flats and 1 three bedroom flat. The flats has provided additional income which are used for achieving the objects of the charity.

RESERVES POLICY

The trustees' policy is to have unrestricted and uncommitted funds (free reserves) to cover 3 to 6 months of resources expended which equals roughly £12,000 - £24,000. They feel that this will enable current activities to continue if there is any significant drop in funding. It would obviously be necessary then to consider how the funding would be replaced or activities changed. The present free reserve is within the policy range but the trustees are continuing to seek additional funds to further boost the reserves.

Page 5

THE REDEEMED CHRISTIAN CHURCH OF GOD - AMAZING GRACE CHAPEL HULL

TRUSTEES AND FINANCIAL REPORT FOR YEAR ENDED 31 MARCH 2021

REPORT OF TRUSTEES

PRINCIPAL FUNDING

Funding has been provided mainly through tithes and offerings by church members and through donations. Pledges are also taken for specific projects. The charity has maximised its incoming by accessing gift aid claim on donations made by eligible donors.

FUTURE DEVELOPMENTS

The charity continues to explore various ways of spreading the gospel of Christ in an effective manner. The charity is also looking to grow in membership and continue to develop its members to make life-changing impact in the community through strategic training and development programmes.

The charity is actively exploring ways of putting the church building into optimum use to generate funds for its charity work in the community. Having successfully completed 3 flats which has been rented out to members of the community, the charity is in the process of acquiring more properties in the area to be rented to locals in need of housing. This falls within its object on prevention and relief of poverty. It will also support the national housing policy of making housing available.

FINANCIAL REVIEW

The Charity's financial statements for the year ended 31 March 2020 show a net increase of funds funds of £75,442 (2019: £67,469).

TAXATION

The Redeemed Christian Church of God Amazing Grace Parish is a registered charity and all of its its activities are tax exempt under rules of taxation granted to charities.

IMPACT OF COVID-19 PANDEMIC

As a result of the outbreak of COVID-19 Pandemic in the first half of the year under review the nation introduced several measures to curtail further spread of the virus. Nationwide lockdowns was declared. This action significantly impacted our physical meetings as place of worship were prohibited from opening, and physical garthering suspended. In order to continue to meet the needs of its members at a very difficult time, the church moved its services to a virtual platform. Sunday worship services, midweek bible study, regular prayer and seminars were all moved to a virtual platform using Zoom.

Page 6

THE REDEEMED CHRISTIAN CHURCH OF GOD - AMAZING GRACE CHAPEL HULL

TRUSTEES AND FINANCIAL REPORT FOR YEAR ENDED 31 MARCH 2021

REPORT OF TRUSTEES

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The Trustees are responsible for preparing the annual report and financial statements in accordance with applicable laws and regulations.

Charity law requires the Directors to prepare financial statements for each financial year. Under that law, the Trustees have elected to prepare the financial statements in accordance with the United Kingdom Generally Acceptable Accounting Practice (United Kingdom Accounting Standards and applicable law). The financial statements are required to give a true and fair view of the state of affairs of the charity and of the surplus or deficit of the charity for that period. In preparing the financial statements, the Directors are required to:

The trustees recognise their responsibilities to keep 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 Companies Act 2006. They are also responsible for safeguarding the assets of the charity and henceforth taking steps for the prevention and detection of fraud and other irregularities.

The appended financial statements have been prepared on the accruals basis and have been examined by an independent examiner, whose report is also appended.

Approved by the trustees on 12th November 2021 and signed on their behalf by:

Pastor O Aleshinloye Trustee

Pastor Ezim Eneli Trustee

Page 7

THE REDEEMED CHRISTIAN CHURCH OF GOD - AMAZING GRACE CHAPEL HULL

TRUSTEES AND FINANCIAL REPORT FOR YEAR ENDED 31 MARCH 2021

INDEPENDENT EXAMINERS REPORT

TO THE TRUSTEES OF RCCG - AMAZING GRACE CHAPEL HULL

I report on the accounts of the charity for the period ended 31 January 2021 which is set on pages 9 - 17

RESPECTIVE RESPONSIBILITIES OF THE TRUSTEES AND THE EXAMINER

The Charity Trustees are responsible for the preparation of the accounts. The Charity's trustees consider that an audit is not required for the period under section 476 of the Companies Act 2006 and that an independent examination is needed.

It is my responsibility to:

BASIS OF MY EXAMINATION

My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the account, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a "true and fair" view and the report is limited to those matters set out in the statements below.

EXAMINER'S STATEMENT

In connection with my examination, no matter has come to my attention:

(1) which gives me reasonable cause to believe that in any material respect the trustees have not met the requirements to ensure that:

(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Akintayo Ojo FCCA 16 November 2021 Resource Management Consultants Ltd 46 Hollywood Way, Erith. DA8 2QE

Page 8

THE REDEEMED CHRISTIAN CHURCH OF GOD - AMAZING GRACE CHAPEL HULL

TRUSTEES AND FINANCIAL REPORT FOR YEAR ENDED 31 MARCH 2021

STATEMENT OF FINANCIAL ACTIVITIES


Notes
INCOMING RESOURCES
Donations, & similar incoming resources
2
Grants For Community Projects
3
Gift aid Receivable
4
Other Grants & Income Received
5
Investment Income
6
Total incoming resources
RESOURCES EXPENDED
Charitable expenditure
Grants payable - individual
7
Grants payable - institutional
8
Costs of activities in furtherance of
charities objects
9
Support Cost
10
Management and governance costs
11
Total resources expended
Net (outgoing)/incoming resources for year
Total funds at the start of the year
BALANCE AT END OF YEAR		 Unrestricted
Funds
2021
£
114,895
-
27,983
36,050
10,425		 Restricted
Funds
2021
£
20,791
47,541
-
55,235
-
123,567
-
-
121,264
-
-
121,264
2,303
425,772
428,075		 Total
Funds
2021
£
135,686
47,541
27,983
91,285
10,425		 Total
Funds
2020
£
111,302
29,654
21,687
47,964
6,917
189,353 312,920 217,525
1,584
14,861
119,243
8,998
71,990		 1,584
14,861
240,506
8,998
71,990		 5,966
11,976
71,359
5,592
47,189
216,675 337,939 142,082
27,322
-
31,177		 25,019
-
456,949		 75,443
381,506
3,855 431,930 456,949

The charity's incoming resources and resources expended all relate to continuing activities.

Page 9

THE REDEEMED CHRISTIAN CHURCH OF GOD - AMAZING GRACE CHAPEL HULL

TRUSTEES AND FINANCIAL REPORT FOR YEAR ENDED 31 MARCH 2021

BALANCE SHEET AS AT 31 MARCH 2021

Notes
FIXED ASSETS
12
Building
12a
Tangible Fixed assets
12b
CURRENT ASSETS
Debtors
13
Cash and bank balances
14
Total assets
LIABILITIES
CREDITORS
(amount falling due within one year)
15
Accrued expenses
Long term Liability - Mortgage
16a
Long term Liability - Bounce back loan
16b
Total liability
NET ASSETS
CHARITY FUNDS
General - unrestricted
1d
General - restricted
1e
TOTAL FUNDS		 2021
£
479,758
21,648
501,406
2,620
105,025
107,645
609,051
4,732
122,389
50,000
172,389
431,930
3,855
428,075
431,930		 2020
£
479,758
19,577
499,335
1,620
87,899
89,519
588,853
5,432
126,472
-
126,472
456,949
31,177
425,772
456,949

The accounts have been prepared in accordance with the special provision of Statement of Recommended Practice: Accounting and Reporting by Charities (SORP) issued March 2005 as modified for smaller charities

Approved by the Trustees on 12 November 2021 and signed on their behalf by:

Pastor O Aleshinloye Trustee

Pastor Ezim Eneli Trustee

Page 10

THE REDEEMED CHRISTIAN CHURCH OF GOD - AMAZING GRACE CHAPEL HULL

TRUSTEES AND FINANCIAL REPORT FOR YEAR ENDED 31 MARCH 2021

NOTES TO THE ACCOUNTS

1. ACCOUNTING POLICIES

standards. They follow best practice as set out in the Statement of Recommended Practice: Accounting and Reporting by Charities (SORP) issued March 2005 as modified for smaller charities.

the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Musical equipment - 25% reducing balance

Furnitures and fittings - 25% reducing balance Computer equipment - 25% reducing balance

Motor Vehicles - 25% reducing balance


2. DONATIONS, LEGACIES AND SIMILAR INCOMING RESOURCES
Collection at all services
Building Donation
3. GRANTS FOR COMMUNITY PROJECTS
Other Grants
James Reekit Charity
Garfied Weston
Humber Learning Consortium
Joseph Annie Cattle Trust
Two Ridings Community
Church Revitalisation
Local Giving
Groundwork UK-TE
Main Grants
Love Your Neighbour
4. GIFT AID
Gift aid recovered
5. OTHER GRANTS & INCOME RECEIVED
20
RCCG Parish in Nigeria
HMRC Ers NI Relief
Home Office Security Fund
Insurance Claims
Covid Support Donations		 Unrestricted
Funds
2021
£
114,895
-		 Restricted
Funds
2021
£
14,302
6,489
20,791
£
1,975
-
-
-
-
16,560
2,500
2,000
1,500
9,720
13,286
47,541
£
-
£
-
43,737
-
11,498
55,235		 Total
Funds
2021
£
129,197
6,489
135,686
£
1,975
-
-
-
-
16,560
2,500
2,000
1,500
9,720
13,286
47,541
£
27,983
£
-
4,000
43,737
32,050
11,498
91,285		 Total
Funds
2020
£
111,302
-
114,895 111,302
£
-
-
-
-
-
-
-
-
-
-
-		 £
4,190
10,000
3,000
9,464
3,000
-
-
-
-
-
-
- 29,654
£
27,983		 £
21,687
£
-
4,000
-
32,050
-		 £
44,964
3,000
-
-
-
36,050 47,964

Page 11

THE REDEEMED CHRISTIAN CHURCH OF GOD - AMAZING GRACE CHAPEL HULL

TRUSTEES AND FINANCIAL REPORT FOR YEAR ENDED 31 MARCH 2021

NOTES TO THE ACCOUNTS


6. INVESTMENT INCOME
Net rental income
17
Hall Hire Receipts		 Unrestricted
Funds
2021
£
10,425
-		 Restricted
Funds
2021
£
-
-		 Total
Funds
2021
£
10,425
-
10,425		 Total
Funds
2020
£
6,342
575
10,425 - 6,917

Amount represents net rental income received from 3 flats owned by the charity. The income was used to advance the objects of the charity.

2021
7. Grants payable - individual
£
Individual welfare
1,584
2021
8. Grants payable - institutional
£
Charitable giving -UK
14,861
Charitable giving -overseas
-
Total
14,861
List of institutional grants payable
£
RCCG WEM
World evangelism
10,306
RCCG Central Office
Central Office Support
960
Festival of Life
Advancement of faith
180
Others
Advancement of faith
3,415
Total grant payable - institutional
14,861
9. COST OF ACTIVITIES IN FURTHERANCE OF CHARITY'S OBJECTS
Partners and consultancy
-
Seminar, conferences & subscriptions
721
Travel and subsistence
3,208
Vehicle running and repairs
4,805
Visiting minister's expenses
2,446
Community projects costs
15,291
Missions and evangelism
10,612
Welfare & hospitality
4,183
Telephone & internet
1,727
Printing, postage, stationery & IT consumables
1,526
Repairs, renewal and maintenance
53,112
Worship cost, music & church group
2,187
Utilities
4,897
Insurance
2,773
Volunteer expenses
255
Training & development
Depreciation
11,500
119,243		 2021
£
1,584		 2021
£
-		 2021
£
1,584
2021
£
14,861
-
14,861
£
10,306
960
180
3,415
14,861
-
721
3,208
4,805
2,446
74,331
25,519
4,183
1,727
1,526
96,849
2,187
4,897
2,773
255
3,580
11,500
240,506		 2020
£
5,966
2021
£
14,861
-		 2021
£
-
-		 2020
£
11,976
-
14,861 - 11,976
£
10,306
960
180
3,415		 £
-
-
-
-		 £
6,245
960
1,195
3,576
14,861 - 11,976
59,040
14,907
43,737
3,580
-		 9,000
762
12,392
6,267
2,825
4,943
4,590
909
1,106
802
12,701
1,889
1,036
1,990
1,939
103
8,107
119,243 121,264 71,359

Page 12

THE REDEEMED CHRISTIAN CHURCH OF GOD - AMAZING GRACE CHAPEL HULL

TRUSTEES AND FINANCIAL REPORT FOR YEAR ENDED 31 MARCH 2021

NOTES TO THE ACCOUNTS


10. SUPPORT COSTS
Telephone & internet
Printing, postage, stationery & IT consumables
Utilities
Admin & office expenses
Bank charges
Sundry expenses
11. MANAGEMENT AND GOVERNANCE COSTS
Staff cost
Professional fees - Projects
Professional fees - Legal & Leases
Professional fees - accountancy & examination
Professional fees - Other
Professional fees - Payroll
12. FIXED ASSETS
12a. BUILDING
Cost at 1 April 2020
Additions in the year
Cost at 31 March 2021
12b. TANGIBLE ASSETS
Motor
Musical
Vehicles
equipment
Cost
£
£
At 1 April 2020
2,265
10,785
Additions
4,240
633
At 31 March 2021
6,505
11,418
Depreciation
At 1 April 2020
668
4,027
Charge for the year
1,626
2,855
At 31 March 2021
2,294
6,882
Net book value
At 31 March 2021
4,211
4,537
At 31 March 2020
1,596
6,758
Page 13
10. SUPPORT COSTS
Telephone & internet
Printing, postage, stationery & IT consumables
Utilities
Admin & office expenses
Bank charges
Sundry expenses
11. MANAGEMENT AND GOVERNANCE COSTS
Staff cost
Professional fees - Projects
Professional fees - Legal & Leases
Professional fees - accountancy & examination
Professional fees - Other
Professional fees - Payroll
12. FIXED ASSETS
12a. BUILDING
Cost at 1 April 2020
Additions in the year
Cost at 31 March 2021
12b. TANGIBLE ASSETS
Motor
Musical
Vehicles
equipment
Cost
£
£
At 1 April 2020
2,265
10,785
Additions
4,240
633
At 31 March 2021
6,505
11,418
Depreciation
At 1 April 2020
668
4,027
Charge for the year
1,626
2,855
At 31 March 2021
2,294
6,882
Net book value
At 31 March 2021
4,211
4,537
At 31 March 2020
1,596
6,758
Page 13
10. SUPPORT COSTS
Telephone & internet
Printing, postage, stationery & IT consumables
Utilities
Admin & office expenses
Bank charges
Sundry expenses
11. MANAGEMENT AND GOVERNANCE COSTS
Staff cost
Professional fees - Projects
Professional fees - Legal & Leases
Professional fees - accountancy & examination
Professional fees - Other
Professional fees - Payroll
12. FIXED ASSETS
12a. BUILDING
Cost at 1 April 2020
Additions in the year
Cost at 31 March 2021
12b. TANGIBLE ASSETS
Motor
Musical
Vehicles
equipment
Cost
£
£
At 1 April 2020
2,265
10,785
Additions
4,240
633
At 31 March 2021
6,505
11,418
Depreciation
At 1 April 2020
668
4,027
Charge for the year
1,626
2,855
At 31 March 2021
2,294
6,882
Net book value
At 31 March 2021
4,211
4,537
At 31 March 2020
1,596
6,758
Page 13		 Unrestricted
Funds
2021
£
1,151
1,017
258
2,556
587
3,429		 Restricted
Funds
2021
£
-
-
-
-
-
-		 Total
Funds
2021
£
1,151
1,017
258
2,556
587
3,429
8,998 - 8,998
£
51,939
2,262
12,994
3,000
800
995		 £
-
-
-
-
-
-		 £
51,939
2,262
12,994
3,000
800
995
71,990 - 71,990
Computers
& projectors
£
8,027
4,898		 Furniture &
fittings
£
11,350
3,800		 Total
31-Mar
2021
£
479,758
-
479,758
Total
31-Mar
2021
£
32,427
13,571
6,505 11,418 12,925 15,150 45,998
668
1,626		 4,027
2,855		 2,593
3,231		 5,563
3,788		 12,851
11,500
2,294 6,882 5,824 9,351 24,351
4,211 4,537 7,101 5,800 21,648
1,596 6,758 5,434 5,788 19,576
Page 13

THE REDEEMED CHRISTIAN CHURCH OF GOD - AMAZING GRACE CHAPEL HULL

TRUSTEES AND FINANCIAL REPORT FOR YEAR ENDED 31 MARCH 2021

NOTES TO THE ACCOUNTS

Total
13. DEBTORS
Year ended
Funds
31-Mar
2020
2021
£
£
737
Rent due
2,320
535
Other debtors
300
690
2,620
1,485
-
14. CASH BALANCES
Unrestricted
Restricted
Total
2,144
Funds
Funds
Funds
5,592
2021
2021
2021
Bank balance
£
£
£
£
Building fund account
-
81,582
81,582
42,939
Current account
23,443
-
23,443
At 31 March 2019
23,443
81,582
105,025
-
2,500
Year ended
1,250
15. CREDITORS
31-Mar
500
2021
47,189
£
Accrual and deferred income: Independent Examiner's fees
4,200
Total
Short term
532
31-Mar
4,732
2020
£
Year ended
479,758
16a. LONG TERM LIABILITY
31-Mar
-
2021
479,758
£
Mortgage (Triodos Bank)
122,389
122,389
Total
Amount represents outstanding balance on Mortgage on church flats.
31-Mar
2020
Year ended
£
16b. LONG TERM LIABILITY
31-Mar
18,974
2021
13,453
£
32,427
Bounce Back Loan
50,000
50,000
4,743
17. STAFF COST AND NUMBERS
Year ended
8,107
Staff costs were as follows
31-Mar
12,850
2021
£
Wages and salaries
45,794
19,577
Social security costs
4,417
Pensions
1,728
51,939		 Restricted
Funds
2021
£
81,582
-		 Year ended
31-Mar
2021
£
2,320
300		 Year ended
31-Mar
2020
£
1,320
300
2,620 1,620
Total
Funds
2021
£
81,582
23,443		 Total
Funds
2020
£
46,229
41,669
81,582 105,025 87,899
Year ended
31-Mar
2021
£
4,200
532		 Year ended
31-Mar
2020
£
3,700
1,732
4,732 5,432
Year ended
31-Mar
2021
£
122,389		 Year ended
31-Mar
2020
£
126,472
122,389 126,472
Year ended
31-Mar
2020
£
-
50,000 -
Year ended
31-Mar
2021
£
45,794
4,417
1,728		 Year ended
31-Mar
2020
£
37,741
4,018
1,180
51,939 42,939

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THE REDEEMED CHRISTIAN CHURCH OF GOD - AMAZING GRACE CHAPEL HULL

TRUSTEES AND FINANCIAL REPORT FOR YEAR ENDED 31 MARCH 2021

NOTES TO THE ACCOUNTS

Year ended Year ended
The average number of employee during the year was as follows 31-Mar 31-Mar
2021 2020
No. No.
Pastoral 1 1
Charity administration - -
Total 1 1

No employee received remuneration amounting to more than £50,000 in the year.

18. INVESTMENT INCOME RENTAL INCOME ACCOUNT

RENTAL INCOME ACCOUNT
Rental Income from Church Flats
Less mortgage interest
Rental income after interest
Expenditure
Management Fee
Letting fees
Repairs & maintenance
Council rates
Insurance
Total expenditure
Net Rental Income		 Year ended
Year ended
31-Mar
31-Mar
2021
2020
£
£
18,706
15,624
4,361
4,807
14,344
10,816
2,205
1,826
125
-
1,119
2,648
-
-
471
-
3,920
4,474
10,425
6,342

19. RELATED PARTY TRANSACTIONS

During the year, the church paid institutional grants to other RCCG organisations such as the World Evangelism Mission as stated in note 7.

20. OTHER GRANT AND INCOMES RECEIVED

During the year, the charity received grants from the Home Office towards church building. security project. The fund was for installing intercoms, CCTV cameras, gates and fences to the building in accordance to Home Office guidelines. Total project cost was £54,670.84. The

charity provided a counterpart fund of £10.934.16 while Home office grant was ££43,736.67 During the year, the church building was affected by severe flood and an insurance pay-out was received to remedy the damage. Amount received is shown under note 6. Donations were received from church members to provide support for covid-19 support for members of the community.

Grant received from a Parish of RCCG designated towards repayment of mortgage on church building in 2019. The amount has been spent in accordance with the terms of the grant.

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THE REDEEMED CHRISTIAN CHURCH OF GOD - AMAZING GRACE CHAPEL HULL

TRUSTEES AND FINANCIAL REPORT FOR YEAR ENDED 31 MARCH 2021

NOTES TO THE ACCOUNTS

21. ANALYSIS OF NET ASSETS BETWEEN FUNDS

ANALYSIS OF NET ASSETS BETWEEN FUNDS: CURRENT PERIOD

ANALYSIS OF NET ASSETS BETWEEN FUNDS: CURRENT PERIOD

Tangible fixed assets
Current assets
Creditors amount falling due within one year
Creditors amount falling due after more than one year		 Unrestricted
Funds
2021
£
21,618
36,939
4,732
-
50,000
-
3,825		 Restricted
Funds
2021
£
479,758
70,706
-
122,389
-
428,075		 Total
Funds
2021
£
501,376
107,645
4,732
-
172,389
-
431,900

ANALYSIS OF NET ASSETS BETWEEN FUNDS: PRIOR YEAR

ANALYSIS OF NET ASSETS BETWEEN FUNDS: PRIOR YEAR

Tangible fixed assets
Current assets
Creditors amount falling due within one year
Creditors amount falling due after more than one year
21a. MOVEMENT IN FUNDS		 Unrestricted
Funds
2020
£
19,576
17,033
5,432
-
-
31,177		 Restricted
Funds
2020
£
479,758
72,486
-
126,472
-
425,772		 Total
Funds
2020
£
499,334
89,519
5,432
-
126,472
-
456,949

The total funds at the end of the year represent the total value of the charity net assets. This consists of total values of fixed assets and currents assets less total value of current liabilities and the long term liabilities.

The trustees have resolved to adjust the presentation of funds between general unrestricted and restricted funds as shown in the statement of financial activities.

22. NET INCOMING RESOURCES/(RESOURCES EXPENDED)

This is stated after charging
Depreciation of tangible assets owned by the charity
Accountant's fees		 Year ended
31-Mar
2021
£
11,500
3,000		 Year ended
31-Mar
2020
£
4,743
2,500

23. VALUE OF BUILDINGS

The cost of the building in note 11a is a reasonable amount of value invested in procuring the building and developing it. The building consist so a Large hall and dedicated offices, A terraced building consisting of one 3 bedroom flat and two 2 bedroom flats.

The trustees of the charity intends to obtain a professional valuation of the property and this will be adopted for the accounts going forward.

Page 16