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2020-12-31-accounts

THE REDEEMED CHRISTIAN CHURCH OF GOD INSPIRATION HOUSE DARTFORD

Charity reg. no 1120699

TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

THE REDEEMED CHRISTIAN CHURCH OF GOD - INSPIRATION HOUSE DARTFORD TRUSTEES AND FINANCIAL REPORT FOR YEAR ENDED 31 DECEMBER 2020 CONTENTS

CONTENTS PAGE
Reference and administrative details of the charity 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 - INSPIRATION HOUSE DARTFORD

TRUSTEES AND FINANCIAL REPORT FOR YEAR ENDED 31 DECEMBER 2020

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

Trustees Mr O B Olorunsola-Elias
Mrs O A Fapetu
Mr O Senbore
Mrs F Olaleye - Appointed 27 January 2020
Registered Charity
Number 1120699
Correspondence Address 81 St Vincents Road
Dartford
Kent
DA1 1XA
Pastor in Charge Pastor Freda Olaleye
Accountant Akintayo Ojo FCCA
Resource Management Consultants Limited
Chartered Certified Accountant
46 Hollywood Way
Erith
DA8 2QE
Bankers HSBC Plc
23 Denmark Hill
Camberwell Green
SE5 8RP
Lloyds Bank
121 High Street
Tonbridge
Kent
TN9 1DB

Page 2

THE REDEEMED CHRISTIAN CHURCH OF GOD - INSPIRATION HOUSE DARTFORD

TRUSTEES AND FINANCIAL REPORT FOR YEAR ENDED 31 DECEMBER 2020 REPORT OF TRUSTEES

The Trustees present their annual report together with the financial statements of The Redeemed Christian Church of God Inspiration House Dartford (the Charity) for the year ended 31 December 2020 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 supplement 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 - INSPIRATION HOUSE DARTFORD

TRUSTEES AND FINANCIAL REPORT FOR YEAR ENDED 31 DECEMBER 2020

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 Inspiration house Dartford was constituted by a

trust deed dated 31 December 2006 and was registered with the Charity Commission as a charity in England and Wales with charity number 1120699.

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.

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 Inspiration House Dartford 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.

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 missionaries 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.

Page 4

THE REDEEMED CHRISTIAN CHURCH OF GOD - INSPIRATION HOUSE DARTFORD

TRUSTEES AND FINANCIAL REPORT FOR YEAR ENDED 31 DECEMBER 2020

REPORT OF TRUSTEES

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 continued 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.

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 invested in a church building comprising a flat. The flat currently generate rental income for 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 above the policy range but the trustees are continuing to seek additional funds to further boost the reserves.

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.

IMPACT OF COVID-19 PANDEMIC

As a result of the outbreak of COVID-19 Pandemic in the first half of the year under review, government introduced several measures to curtail further spread of the virus. Nationwide lockdowns was declared. The lockdown impacted our physical meetings as places of worship were prohibited from opening, and physical gathering suspended. To enable us continue to meet the needs of our members, at a very difficult time, we moved our services to a virtual platform. Sunday worship services, midweek bible study, regular prayer meetings and seminars were all moved to a virtual platform using Zoom.

Page 5

THE REDEEMED CHRISTIAN CHURCH OF GOD - INSPIRATION HOUSE DARTFORD

TRUSTEES AND FINANCIAL REPORT FOR YEAR ENDED 31 DECEMBER 2020

REPORT OF TRUSTEES

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 currently owns 2 flats. One is used as a clergy house, while the other is rented out to generate income for the charity.

FINANCIAL REVIEW

The Charity's financial statements for the year ended 31 December 2020 show a net increase of funds funds of £46,183 (2019: £13,892).

TAXATION

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

Page 6

THE REDEEMED CHRISTIAN CHURCH OF GOD - INSPIRATION HOUSE DARTFORD

TRUSTEES AND FINANCIAL REPORT FOR YEAR ENDED 31 DECEMBER 2020

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:

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 15 August 2021 and signed on their behalf by:

Mr. O B Olorunsola-Elias Trustee

Mrs. O A Fapetu Trustee

Page 7

THE REDEEMED CHRISTIAN CHURCH OF GOD - INSPIRATION HOUSE DARTFORD

TRUSTEES AND FINANCIAL REPORT FOR YEAR ENDED 31 DECEMBER 2020

INDEPENDENT EXAMINERS REPORT

TO THE TRUSTEES OF RCCG - INSPIRATION HOUSE DARTFORD.

I report on the accounts of the charity for the period ended 31 December 2020 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 20 August 2021 Resource Management Consultants Ltd

46 Hollywood Way, Erith. DA8 2QE

Page 8

THE REDEEMED CHRISTIAN CHURCH OF GOD - INSPIRATION HOUSE DARTFORD

TRUSTEES AND FINANCIAL REPORT FOR YEAR ENDED 31 DECEMBER 2020

STATEMENT OF FINANCIAL ACTIVITIES


Notes
INCOMING RESOURCES
Donations, legacies & similar incoming re
2
Activities in furtherance of charity's obje
3
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
Management and governance costs
10
Total resources expended
Net (outgoing)/incoming resources for year
Total funds at the start of the year
BALANCE AT END OF YEAR		 Unrestricted
Funds
2020
£
119,035
3,000
5,179		 Restricted
Funds
2020
£
-
-
-
-
-
-
-
-
-
-
-
-		 Total
Total
Funds
Funds
2020
2019
£
£
119,035
69,115
3,000
1,097
5,179
5,395
127,215
75,607
-
-
15,562
15,064
57,833
44,901
7,637
1,750
81,032
61,715
46,183
13,892
235,584
221,692
281,767
235,584
127,215
-
15,562
57,833
7,637
81,032
46,183
235,584
281,767

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

Page 9

THE REDEEMED CHRISTIAN CHURCH OF GOD - INSPIRATION HOUSE DARTFORD

TRUSTEES AND FINANCIAL REPORT FOR YEAR ENDED 31 DECEMBER 2020 BALANCE SHEET AS AT 31 DECEMBER 2020

Notes
FIXED ASSETS
11
Building
11a
Tangible Fixed assets
11b
CURRENT ASSETS
Debtors
12
Cash and bank balances
13
Total assets
LIABILITIES
CREDITORS
(amount falling due within one year)
14
Accrued expenses
Long term Liability - bank loan
15
Total liability
NET ASSETS
CHARITY FUNDS
General - unrestricted
1d
General - restricted
1e
TOTAL FUNDS		 2020
£
353,924
4,627
358,551
-
64,495
64,495
423,046
1,500
139,779		 2019
£
353,924
7,835
361,759
-
21,465
21,465
383,224
1,450
-
146,190
141,279 147,640
281,767
281,767
-
281,767
235,584
235,584
-
235,584

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 15 August 2021 and signed on their behalf by:

Mrs O A Fapetu Trustee

Page 10

THE REDEEMED CHRISTIAN CHURCH OF GOD - INSPIRATION HOUSE DARTFORD

TRUSTEES AND FINANCIAL REPORT FOR YEAR ENDED 31 DECEMBER 2020

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.

(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 Furniture 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.

Unrestricted
Funds
2. DONATIONS, LEGACIES AND SIMILAR INCOMING RESOURCES
2020
£
Tithe
74,624
Collection at all services
-
Sundry donations
-
Gift aid recovered
44,412
119,035
3. ACTIVITIES IN FURTHERANCE OF CHARITY'S OBJECT
£
Building offering
-
Bookstall
-
Mission Event
-
Sale of Van
3,000
3,000
6. INVESTMENT INCOME
£
Rental income
17
5,175
Interest received
4
5,179		 Unrestricted
Funds
2. DONATIONS, LEGACIES AND SIMILAR INCOMING RESOURCES
2020
£
Tithe
74,624
Collection at all services
-
Sundry donations
-
Gift aid recovered
44,412
119,035
3. ACTIVITIES IN FURTHERANCE OF CHARITY'S OBJECT
£
Building offering
-
Bookstall
-
Mission Event
-
Sale of Van
3,000
3,000
6. INVESTMENT INCOME
£
Rental income
17
5,175
Interest received
4
5,179		 Restricted
Funds
2020
£
-
-
-
-
-
£
-
-
-
-
-
£
-
-
-		 Total
Funds
2020
£
74,624
-
-
44,412
119,035
£
-
-
-
3,000
3,000
£
5,175
4
5,179		 Total
Funds
2019
£
47,996
16,542
577
4,000
119,035 69,115
£
-
-
-
3,000		 £
200
-
897
-
3,000 1,097
£
5,175
4		 £
5,370
25
5,179 5,395

Amount represents net rental income received from 1 flat owned by the charity. The income was used to advance THE objects of the charity.

Page 11

THE REDEEMED CHRISTIAN CHURCH OF GOD - INSPIRATION HOUSE DARTFORD

TRUSTEES AND FINANCIAL REPORT FOR YEAR ENDED 31 DECEMBER 2020

NOTES TO THE ACCOUNTS

Unrestricted
Funds
2020
7. Grants payable - individual
£
Individual welfare
-
Unrestricted
Funds
2020
8. Grants payable - institutional
£
Charitable giving -UK
15,562
Charitable giving -overseas
-
Total
15,562
List of institutional grants payable
£
RCCG WEM
World evangelism
14,197
RCCG Central Office
Central Office Support
650
Festival of Life
Advancement of faith
375
Others
Advancement of faith
340
Total grant payable - institutional
15,562
9. COST OF ACTIVITIES IN FURTHERANCE OF CHARITY'S OBJECTS
Visiting speakers expenses
300
Seminar and conferences
-
Youth mission
316
Vehicle running and repairs
128
Worship costs
337
Music, liturgy & church group
185
Mission & evangelism
6,637
Community projects & welfare
1,741
Licences & subscriptions
87
Printing, postage, stationery and publicity
-
Repairs, renewal & maintenance
27,016
Pastors allowance
6,000
Cleaning
236
Utilities
4,874
Insurance
1,778
Mortgage Interest
3,849
Depreciation
3,208
Admin & sundry expenses
426
Health & safety
315
Covid welfare support
400
57,833		 Unrestricted
Funds
2020
£
-		 Restricted
Funds
2020
£
-		 Total
Funds
2020
£
-
Total
Funds
2020
£
15,562
-
15,562
£
14,197
650
375
340
15,562
300
-
316
128
337
185
6,637
1,741
87
-
27,016
6,000
236
4,874
1,778
3,849
3,208
426
315
400
57,833		 Total
Funds
2019
£
-
Unrestricted
Funds
2020
£
15,562
-		 Restricted
Funds
2020
£
-
-		 Total
Funds
2019
£
15,064
-
15,562 - 15,064
£
14,197
650
375
340		 £
-
-
-
-		 £
13,714
550
-
800
15,562 - 15,064
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 1,780
2,625
-
1,421
511
201
1,088
3,318
207
402
10,792
3,528
50
7,586
2,118
4,879
3,208
1,185
-
-
57,833 - 44,901

Page 12

THE REDEEMED CHRISTIAN CHURCH OF GOD - INSPIRATION HOUSE DARTFORD

TRUSTEES AND FINANCIAL REPORT FOR YEAR ENDED 31 DECEMBER 2020

NOTES TO THE ACCOUNTS

Unrestricted
Funds
2020
10. MANAGEMENT AND GOVERNANCE COSTS
£
Professional fees - other
2,650
Legal fees
3,487
Professional fees - accountancy & examination
1,500
7,637
11. FIXED ASSETS
11a. BUILDING
Cost at 1 January 2020
Additions in the year
Cost at 31 December 2020
11b. TANGIBLE ASSETS
Motor
Musical
Computers
Vehicles
equipment & projectors
Cost
£
£
£
At 1 January 2020
8,441
752
2,717
Additions
-
-
-
At 31 December 2020
8,441
752
2,717
Depreciation
At 1 January 2020
3,165
376
1,225
Charge for the year
2,110
188
679
Disposal in the year
3,000
-
-
-
At 31 December 2020
2,275
564
1,904
Disposal
At 31 December 2020
3,000
-
-
Net book value
At 31 December 2020
3,166
188
813
At 31 December 2019
5,276
376
1,492
12. DEBTORS		 Unrestricted
Funds
2020
10. MANAGEMENT AND GOVERNANCE COSTS
£
Professional fees - other
2,650
Legal fees
3,487
Professional fees - accountancy & examination
1,500
7,637
11. FIXED ASSETS
11a. BUILDING
Cost at 1 January 2020
Additions in the year
Cost at 31 December 2020
11b. TANGIBLE ASSETS
Motor
Musical
Computers
Vehicles
equipment & projectors
Cost
£
£
£
At 1 January 2020
8,441
752
2,717
Additions
-
-
-
At 31 December 2020
8,441
752
2,717
Depreciation
At 1 January 2020
3,165
376
1,225
Charge for the year
2,110
188
679
Disposal in the year
3,000
-
-
-
At 31 December 2020
2,275
564
1,904
Disposal
At 31 December 2020
3,000
-
-
Net book value
At 31 December 2020
3,166
188
813
At 31 December 2019
5,276
376
1,492
12. DEBTORS		 Unrestricted
Funds
2020
10. MANAGEMENT AND GOVERNANCE COSTS
£
Professional fees - other
2,650
Legal fees
3,487
Professional fees - accountancy & examination
1,500
7,637
11. FIXED ASSETS
11a. BUILDING
Cost at 1 January 2020
Additions in the year
Cost at 31 December 2020
11b. TANGIBLE ASSETS
Motor
Musical
Computers
Vehicles
equipment & projectors
Cost
£
£
£
At 1 January 2020
8,441
752
2,717
Additions
-
-
-
At 31 December 2020
8,441
752
2,717
Depreciation
At 1 January 2020
3,165
376
1,225
Charge for the year
2,110
188
679
Disposal in the year
3,000
-
-
-
At 31 December 2020
2,275
564
1,904
Disposal
At 31 December 2020
3,000
-
-
Net book value
At 31 December 2020
3,166
188
813
At 31 December 2019
5,276
376
1,492
12. DEBTORS		 Unrestricted
Funds
2020
£
2,650
3,487
1,500		 Restricted
Funds
2020
£
-
-
-		 Total
Funds
2020
£
2,650
3,487
1,500		 Total
Funds
2019
£
300
-
1,450
7,637 - 7,637 1,750
Furniture &
fittings
£
1,323
-		 Total
31-Dec
2020
£
353,924
-		 Total
31-Dec
2019
£
353,924
-
353,924 353,924
Total
31-Dec
2020
£
13,233
-		 Total
31-Dec
2019
£
11,777
1,456
8,441 752 2,717 1,323 13,233 13,233
3,165
2,110
3,000
-		 376
188
-		 1,225
679
-		 632
231
-		 5,398
3,208
3,000
-		 2,190
3,208
-
2,275 564 1,904 863 5,606 5,398
3,000 - - - 3,000 -
3,166 188 813 461 4,627 7,835
Year ended
31-Dec
2019
£
-
5,276 376 1,492 691 7,835
Year ended
31-Dec
2020
£
-

Page 13

THE REDEEMED CHRISTIAN CHURCH OF GOD - INSPIRATION HOUSE DARTFORD

TRUSTEES AND FINANCIAL REPORT FOR YEAR ENDED 31 DECEMBER 2019

NOTES TO THE ACCOUNTS

13. CASH BALANCES
Unrestricted
Restricted
Funds
Funds
2020
2020
Bank balance
£
£
Building fund account
271
-
Current account
56,995
-
Savings account
7,229
-
At 31 December 2019
64,495
-
14. CREDITORS
Accrual and deferred income: Independent Examiner's fees
Short term
15. LONG TERM LIABILITY
Mortgage (Lloyds Bank)
Amount represents outstanding balance on Mortgage on church flats.
16. STAFF COST AND NUMBERS
Staff costs were as follows
Pastor's allowance
Social security costs
The average number of employee during the year was as follows
Pastoral
Charity administration
Total		 Restricted
Funds
2020
£
-
-
-		 Total
Funds
2020
£
271
56,995
7,229		 Total
Funds
2019
£
2,741
6,333
12,391
- 64,495 21,465
Year ended
31-Dec
2020
£
1,500		 Year ended
31-Dec
2019
£
1,450
-
1,500 1,450
Year ended
31-Dec
2020
£
139,779		 Year ended
31-Dec
2019
£
146,190
139,779 146,190
Year ended
31-Dec
2020
£
6,000
-		 Year ended
31-Dec
2019
£
3,528
-
6,000 3,528
Year ended
31-Dec
2020
No.
1
-		 Year ended
31-Dec
2019
No.
1
-
1 1

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

Page 14

THE REDEEMED CHRISTIAN CHURCH OF GOD - INSPIRATION HOUSE DARTFORD

TRUSTEES AND FINANCIAL REPORT FOR YEAR ENDED 31 DECEMBER 2020

NOTES TO THE ACCOUNTS

17. 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.

18. ANALYSIS OF NET ASSETS BETWEEN FUNDS

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
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		 Unrestricted
Funds
2020
£
4,627
64,495
1,500
-
-		 Restricted
Funds
2020
£
353,924
-
-
139,779
-		 Total
Funds
2020
£
358,551
64,495
1,500
-
139,779
-
67,622 214,145 281,767
Unrestricted
Funds
2019
£
7,835
21,465
1,450
-
-		 Restricted
Funds
2019
£
353,924
-
-
146,190
-		 Total
Funds
2019
£
361,759
21,465
1,450
-
146,190
-
27,850 207,734 235,584

19. MOVEMENT IN FUNDS

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.

20. NET INCOMING RESOURCES/(RESOURCES EXPENDED)

20. NET INCOMING RESOURCES/(RESOURCES EXPENDED)
Year ended Year ended
This is stated after charging 31-Dec 31-Dec
2020 2019
£ £
Depreciation of tangible assets owned by the charity 3,208 3,208
Accountant's fees 1,500 1,450

Page 15

THE REDEEMED CHRISTIAN CHURCH OF GOD - INSPIRATION HOUSE DARTFORD

TRUSTEES AND FINANCIAL REPORT FOR YEAR ENDED 31 DECEMBER 2020

NOTES TO THE ACCOUNTS

21. VALUE OF BUILDING

The cost of the building in note 11a is a reasonable amount of value invested in purchasing the property. The building consist of a Large church hall, dedicated offices and 2 flats. Over the years, the trustees have carried out repairs on the building thereby improving its value.

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

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