Charity number: 1123770
Company number: 06471722
(England and Wales)
THE REDEEMED CHRISTIAN CHURCH OF GOD (THE FOUNTAIN)
Report of the Trustees and Unaudited Financial Statements
For the year ended 31 December 2021
Doc ID: 46cdaa7402769ffd1fabecf5d541a111f6d2a153
THE REDEEMED CHRISTIAN CHURCH OF GOD (THE FOUNTAIN) Contents Page
For the year ended 31 December 2021
| Report of the Trustees | 1 to 2 |
|---|---|
| Independent Examiner's Report to the Trustees | 3 |
| Statement of Financial Activities | 4 |
| Statement of Financial Position | 5 |
| Notes to the Financial Statements | 6 to 12 |
| Detailed Statement of Financial Activities | 13 to 14 |
Doc ID: 46cdaa7402769ffd1fabecf5d541a111f6d2a153
THE REDEEMED CHRISTIAN CHURCH OF GOD (THE FOUNTAIN)
Report of the Trustees
For the year ended 31 December 2021
The Trustees, who are also directors for the purposes of company law, have pleasure in presenting their report and the financial statements for the charitable company for the year ended 31 December 2021. 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 the Republic of Ireland (FRS 102) (effective 1 January 2019).
Chair's report
RCCG The Fountain has a dedicated and hard-working team on board. Our committed team of volunteers, along with our many dynamic supporters enable the charity to continue in strength and keep up the important work of spreading the gospel. We want to say thank you to them all.
OBJECTIVES AND ACTIVITIES
The overall purpose of the Church is to achieve its charitable objectives, which consist of the following:
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The advancement of the Christian faith.
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The assistance of persons who are in condition of need, suffering hardship or distress, or who are aged or sick, are in condition that require help which our Lord would reach out to help.
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The advancement of education of children and adults.- Any other charitable purpose for the benefit of the local community.
RCCG - The Fountain delivers it's charitable objectives by maintaining a vibrant and inclusive place of worship, where all are welcomed, and we aim to continue to involve our local and wider communities.
We provide weekly Sunday services for adults and children, regular midweek meetings for teaching, mentoring and coaching. We also conduct services for baptism, marriages, funerals and the dedication of infants.
Statement on public benefit
The trustees have considered the Charity Commision's guidance on public benefit, including the guidance 'public benefit: running a charity (PB2)'.
Volunteers
RCCG The Fountain has many volunteers that assist the Church in achieving it's objectives.
ACHIEVEMENTS AND PERFORMANCE
During the year, the Church delivered a wide range of activities and events to the community through the various services and conferences held. This includes specific activities for women and men as well as activities for the youth and children.
The Church has developed further the supplementary schooling and parental training and support work and also offered counselling, life coaching and personal development training.
Sharing the gospel of Jesus Christ is especially beneficial to the lives of the people that hear and receive it. It brings Hope, Faith and Love.
FINANCIAL REVIEW
In the twelve months under review, total income was £265,975; (2020: £225,238) and total expenditure was £273,552); (2020: £242,787).
Net results for the year were (£7,577); (2020: (£17,548) ) and carries forward funds of £938,502; (2020: £946,079).
Based on the level of income from member donations in the form of Tithes, Offerings, Thanksgiving Offerings, and other forms of donations and gift aid, the trustees feel that we would be able to continue the current activities of the church in the event of a drop in funding.
Reserves
The Trustees believes that unrestricted funds which have not been designated for a specific use should be maintained so that in the event of a significant drop in funding, the church will be able to continue the charity's activities. The church is working towards achieving this level of reserves.
Going concern
The Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus, the Trustees continue to adopt the going concern basis of accounting in preparing the accounts.
Funds in deficit
The trustees continue to implement budgetary controls and monitor costs to maintain the charity's financial stability. The trustees place an emphasis on financial management to ensure that the funds within the organisation are property managed as it's gets back normality, post COVID-19.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
RCCG - The Fountain is a charitable company limited by guarantee and is controlled by it's governing document; the memorandum and articles of association incorporated on 14 January 2008.
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THE REDEEMED CHRISTIAN CHURCH OF GOD (THE FOUNTAIN) Report of the Trustees Continued
For the year ended 31 December 2021
Recruitment and appointment of trustees
Trustees are elected by existing trustees in a way that serves the Charity's best interests and Trustees are made aware of the legal responsibilities they will be taking on.
REFERENCE AND ADMINISTRATIVE INFORMATION
Name of Charity THE REDEEMED CHRISTIAN CHURCH OF GOD (THE FOUNTAIN) Charity registration number 1123770 Company registration number 06471722 Principal address Little Causeway Marshalls Road Braintree Essex CM7 2LL
Trustees
The trustees and officers serving during the year and since the year end were as follows:
Olubunmi Akintujoye Charles Iduh Merukube Olaosebikan Independent examiner Tolu Obisesan 4a - 6a Hythe Street Dartford DA1 1BX
Approved by the Board of Trustees and signed on its behalf by
............................................................................. 28 September 2022
Charles Iduh
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THE REDEEMED CHRISTIAN CHURCH OF GOD (THE FOUNTAIN) Independent Examiners Report to the Trustees
For the year ended 31 December 2021
I report to the trustees on my examination of the accounts of the charitable company for the year ended 31 December 2021.
Responsibilities and basis of report
As the charity Trustees, who are also directors for the purposes of company law, are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiners statement
Since the Charitable company's gross income exceeded £250,000, your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination by virtue of my membership of Association of Accounting Technicians, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the requirements of section 396 of the 2006 Act 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; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
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.
Tolu Obisesan 4a - 6a Hythe Street Dartford DA1 1BX
28 September 2022
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THE REDEEMED CHRISTIAN CHURCH OF GOD (THE FOUNTAIN) Statement of Financial Activities (including Income and Expenditure Account) For the year ended 31 December 2021
| Notes | Unrestricted | Restricted | 2021 | 2020 | |
|---|---|---|---|---|---|
| funds | funds | ||||
| £ | £ | £ | £ | ||
| Income and endowments from: | |||||
| Donations and legacies | 2 | 265,974 | - | 265,974 | 225,238 |
| Investments | 3 | 1 | - | 1 | 1 |
| Total | 265,975 | - | 265,975 | 225,239 | |
| Expenditure on: | |||||
| Charitable activities | 4/5 | (273,550) | - | (273,550) | (242,787) |
| Total | (273,550) | - | (273,550) | (242,787) | |
| Net income/expenditure | (7,575) | - | (7,575) | (17,548) | |
| Reconciliation of funds | |||||
| Total funds brought forward | 935,049 | 11,030 | 946,079 | 963,627 | |
| Total funds carried forward | 927,474 | 11,030 | 938,504 | 946,079 |
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06471722
Registered Number :
THE REDEEMED CHRISTIAN CHURCH OF GOD (THE FOUNTAIN) Statement of Financial Position
As at 31 December 2021
| Notes Fixed assets Tangible assets 11 Current assets 12 Debtors Cash at bank and in hand Creditors: amounts falling due within one year 13 Net current assets Total assets less current liabilities Creditors: amounts falling due after more than one year 14 Net assets The funds of the charity Restricted income funds 15 Unrestricted income funds 15 Revaluation reserve Total funds |
£ 2021 2,972,337 2,972,337 6,584 29,231 35,815 (92,058) (56,243) 2,916,094 (677,854) 2,238,240 11,030 924,219 1,302,991 2,238,240 |
£ 2020 3,023,721 |
|---|---|---|
| 3,023,721 | ||
| 4,219 27,301 31,520 (52,891) (21,371) |
||
| 3,002,350 | ||
| (753,280) | ||
| 2,249,070 | ||
| 11,030 935,049 1,302,991 |
||
| 2,249,070 |
For the year ended 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section
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476,
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The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records
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and the preparation of accounts. These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.
The financial statements were approved and authorised for issue by the Board and signed on its behalf by:
Charles Iduh Trustee
28 September 2022
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THE REDEEMED CHRISTIAN CHURCH OF GOD (THE FOUNTAIN) Notes to the Financial Statements
For the year ended 31 December 2021
1. Accounting Policies
Basis of accounting
The financial statements have been prepared under the historical cost convention, except for investments which are included at market value and the revaluation of certain fixed assets and 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 (FRS 102), and the Companies Act 2006.
THE REDEEMED CHRISTIAN CHURCH OF GOD (THE FOUNTAIN) meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).
Going concern
At the time of approving the accounts, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus, the Trustees' continue to adopt the going concern basis of accounting in preparing the accounts.
Statement of cash flows
The Trustees have taken advantage of the exemption in SORP FRS 102 from including a cash flow statement in the financial statements on the grounds that the charitable company is small.
Funds
Unrestricted funds are available for use at the discretion of the Committee in furtherance of their charitable objectives unless the funds have been designated for other purposes.
Restricted funds are subject to specific conditions by donors as to how they may be used.
Incoming resources
All incoming resources are included in the statement of financial activities when the Charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:
Resources expended
Liabilities are recognised as resources expended when there is a legal or constructive obligation committing the Charity to the expenditure:
Charitable activites
Charitable activities are those costs relating to activities carried out to meet the objectives of the charity and include directly attributed costs as well as support costs.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment.
The gains and losses arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset and is recognised in net income/(expenditure) for the year.
Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and buildings 2% Straight line Computer equipment 20% Straight line Fixtures and fittings 25% Reducing balance
Finance leases
The finance element of the rental payment is charged to the Statement of Financial Activities on a straight line basis.
Operating leases
Costs of operating leases are charged to the Statement of Financial Activities on a straight-line basis over the lease term.
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THE REDEEMED CHRISTIAN CHURCH OF GOD (THE FOUNTAIN) Notes to the Financial Statements Continued
For the year ended 31 December 2021
2. Income from donations and legacies
| Unrestricted funds Donations received Grants received Analysis of grants received HMRC 3. Investment income Unrestricted funds Bank interest receivable 4. Costs of charitable activities by fund type Unrestricted funds Charitable activities Support costs 5. Costs of charitable activities by activity type Support costs Activities undertaken directly £ £ Support costs Charitable activities 225,636 47,914 |
2021 £ 246,686 19,288 265,974 2021 £ 19,288 19,288 2021 £ 1 1 2021 £ 47,914 225,636 273,550 2021 £ 273,550 |
2020 £ 202,420 22,818 |
|
|---|---|---|---|
| 225,238 | |||
| 2020 £ 22,818 |
|||
| 22,818 | |||
| 2020 £ 1 1 2020 £ 44,906 197,881 |
|||
| 242,787 | |||
| 2020 £ 242,787 |
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THE REDEEMED CHRISTIAN CHURCH OF GOD (THE FOUNTAIN) Notes to the Financial Statements Continued
For the year ended 31 December 2021
6. Analysis of support costs
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Charitable activities | ||
| Management costs | 193,836 | 160,886 |
| Finance Costs | 27,763 | 29,901 |
| Governance costs | 4,037 | 7,094 |
| 225,636 | 197,881 | |
| et income/(expenditure) for the year | ||
| This is stated after charging/(crediting): | ||
| 2021 | 2020 | |
| £ | £ | |
| Depreciation of owned fixed assets | 61,529 | 61,108 |
| Accountancy fees | 4,037 | 7,094 |
| Staff pension contributions | 886 | 3,412 |
| taff costs and emoluments | ||
| Total staff costs for the year ended 31 December 2021 were: | ||
| 2021 | 2020 | |
| £ | £ | |
| Salaries and wages | 48,480 | 41,600 |
| Pension costs | 886 | 3,412 |
| 49,366 | 45,012 | |
| 2021 | 2020 | |
| Staff members | 2 | 2 |
| 2 | 2 |
7. Net income/(expenditure) for the year
8. Staff costs and emoluments
9. Trustee remuneration and related party transactions
There were no related parties transactions in the current year or prior year.
There were no remuneration paid to trustees in the current or prior year.
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THE REDEEMED CHRISTIAN CHURCH OF GOD (THE FOUNTAIN) Notes to the Financial Statements Continued
For the year ended 31 December 2021
10. Comparative for the Statement of Financial Activities
| Restricted funds Unrestricted funds £ £ Income and endowments from: Donations and legacies 11,030 214,208 Investments - 1 Total 11,030 214,209 Expenditure on: Charitable activities (242,787) - Total - (242,787) 11,030 (28,578) Net income/expenditure Reconciliation of funds Total funds brought forward - 963,627 Total funds carried forward 935,049 11,030 |
2020 £ 225,238 1 |
|---|---|
| 225,239 | |
| (242,787) | |
| (242,787) | |
| (17,548) 963,627 |
|
| 946,079 |
11. Tangible fixed assets
| Cost or valuation At 01 January 2021 Additions At 31 December 2021 Depreciation At 01 January 2021 Charge for year At 31 December 2021 Net book values At 31 December 2021 At 31 December 2020 |
Computer equipment Fixtures and fittings Land and buildings £ £ £ 1,987 245,379 3,100,000 2,397 7,748 - 3,100,000 253,127 4,384 397 219,248 104,000 1,447 8,082 52,000 1,844 227,330 156,000 2,944,000 2,996,000 25,797 26,131 2,540 1,590 |
Total £ 3,347,366 10,145 |
||
|---|---|---|---|---|
| 3,357,511 | ||||
| 323,645 61,529 |
||||
| 385,174 | ||||
| 2,972,337 | ||||
| 3,023,721 |
12. Debtors
Amounts due within one year:
Other debtors
| 2021 | 2020 |
|---|---|
| £ | £ |
| 6,584 | 4,219 |
| 6,584 | 4,219 |
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For the year ended 31 December 2021
THE REDEEMED CHRISTIAN CHURCH OF GOD (THE FOUNTAIN) Notes to the Financial Statements Continued
13. Creditors: amounts falling due within one year
| Other creditors Accruals and deferred income The following liabilities disclosed under creditors falling due within one year are secured by the charity: Hire purchase agreements Creditors: amounts falling due after more than one year Other creditors The following liabilities disclosed under creditors falling due after more than one year are secured by the charity: Hire purchase agreements |
||
|---|---|---|
14. Creditors: amounts falling due after more than one year
15. Movement in funds
Unrestricted Funds
| General General Unrestricted Funds - Previous year General General |
Balance at 01/01/2021 £ 935,049 935,049 Balance at 01/01/2020 £ 963,627 963,627 |
Incoming resources £ 265,975 265,975 Incoming resources £ 214,209 214,209 |
Outgoing resources £ (273,550) (273,550) Outgoing resources £ (242,787) (242,787) |
Balance at 31/12/2021 £ 927,474 |
|---|---|---|---|---|
| 927,474 | ||||
| Balance at 31/12/2020 £ 935,049 |
||||
| 935,049 |
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THE REDEEMED CHRISTIAN CHURCH OF GOD (THE FOUNTAIN) Notes to the Financial Statements Continued
For the year ended 31 December 2021
Purpose of unrestricted Funds
General
Unrestricted funds are available for use at the discretion of the Committee in furtherance of their charitable objectives unless the funds have been designated for other purposes.
| Restricted Funds Balance at 01/01/2021 £ General - R 11,030 11,030 Restricted Funds - Previous year Balance at 01/01/2020 £ General - R - - Purpose of restricted funds |
Incoming resources Balance at 31/12/2021 £ £ 11,030 - - 11,030 Incoming resources Balance at 31/12/2020 £ £ 11,030 11,030 11,030 11,030 |
Incoming resources Balance at 31/12/2021 £ £ 11,030 - - 11,030 Incoming resources Balance at 31/12/2020 £ £ 11,030 11,030 11,030 11,030 |
|---|---|---|
| 11,030 | ||
General - R
Restricted funds are subject to specific conditions set out by donors as to how those funds may be used.
16. Analysis of net assets between funds
| Unrestricted funds General General Restricted funds General - R |
Tangible fixed assets Net current assets / (liabilities) £ £ 2,972,337 (67,273) - 11,030 2,972,337 (56,243) |
Creditors > one year £ (677,854) - (677,854) |
Net Assets £ 2,227,210 11,030 |
|---|---|---|---|
| 2,238,240 |
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THE REDEEMED CHRISTIAN CHURCH OF GOD (THE FOUNTAIN) Notes to the Financial Statements Continued
For the year ended 31 December 2021
Previous year
| Unrestricted funds General General Restricted funds General - R |
Tangible fixed assets Net current assets / (liabilities) £ £ 3,023,721 (32,401) - 11,030 3,023,721 (21,371) |
Creditors > one year £ (753,280) - (753,280) |
Net Assets £ 2,238,040 11,030 |
|---|---|---|---|
| 2,249,070 |
17. Company limited by guarantee
THE REDEEMED CHRISTIAN CHURCH OF GOD (THE FOUNTAIN) is a company limited by guarantee and accordingly does not have a share capital.
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