**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:
- Planting churches
- Running seminars in the church with proven ministers of the faith to guide members in the various aspects of Christian faith,
- Support for other charities and Christian events,
- Providing overseas aid and famine relief, and involving in economic and community development,
- Community outreach events'
- Conferences and events,
- Welfare support to members and general public, and
- Various missionary activities
## **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:
- The charity runs a free youth music, choreography and drama project for youth in the community This we believe will enable young people be more productive with their free time. This will further prevent them from getting involved in any anti-social behaviour.
- The charity organised various dinner events to bring the community members and their leaders. This provides an opportunity for social interaction between members of the community.
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**
- The charity organised weekly soup kitchen for the homeless, and less privilege in the financial year. This is ongoing at the time of this report.
- The charity successfully runs the community Cohesion Soup Kitchen project with a grant from Community Fund Project.
- The breakout of corona virus in 2020 and the government policy to contain the virus impacted
- greatly on the economy with a great number of people turning to food banks and other charities for decent meals and their daily needs. Amazing Grace Chapel turned its premises to a hub in Hull, and provided support for residents in the community.
- At the start of the lockdown in March 2020 to 31st March 2021, the charity had given out 7671 food parcels to people in need, and the less previledge in the community. The church have been providing food parces three times a week. The specific days are, Tuesdays, Thursdays and Saturdays.
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:
- Select suitable accounting policies and apply them consistently;
- Make judgement and estimates that are reasonable and prudent;
- Prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in operation.
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:
- examine the accounts under section145 of Charities Act 2011;
- follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the 2011 Act; and
- state whether particular matters have come to my attention.
## 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:
- proper accounting records are not kept in accordance with the companies Act; and - accounts are prepared which agree with the accounting records and comply with the accounting requirements of the Companies Act 2006; or
(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
- (a) The accounts are prepared under the historical cost convention and in accordance with applicable accounting
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.
- (b) Income and expenditure is accounted for on an accruals basis.
- (c) Fixed assets comprise furniture and equipment and musical equipment and have been costing more than £100. Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off
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
- (d) Unrestricted funds are incoming resources received for the objects of the charity without further specified purpose and are available as general funds.
- (e) Restricted funds are subject to restrictions on their expenditure imposed by their donors.
|
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|
Page 14
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.
Page 15
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