REDEEMED CHRISTIAN CHURCH OF GOD - WINNERS SANCTUARY
Charity No. 1123771
Company No.
Trustees' Report and Unaudited Accounts
31 December 2021
REDEEMED CHRISTIAN CHURCH OF GOD - WINNERS SANCTUARY Contents
| Pages | |
|---|---|
| Trustees' Annual Report | 1 to 4 |
| Independent Examiner's Report | 5 |
| Statement of Financial Activities | 6 |
| Summary Income and Expenditure Account | 7 |
| Balance Sheet | 8 |
| Statement of Cash flows | 9 |
| Notes to the Accounts | 10 |
| Detailed Statement of Financial Activities | 11 to 20 |
Page 1
REDEEMED CHRISTIAN CHURCH OF GOD - WINNERS SANCTUARY
Trustees Annual Report
The Trustees present their Annual Report together with the Financial statement of The RCCG Winner Sanctuary (the charity) for the period ended 31st December 2021.The Trustees confirm that the Annual Report and Financial statements of the Charity comply with the current statutory requirements as provided in the provisions of the statement of Recommended Practice (SORP),applicable to charities preparing their accounts in accordance with the Financial Report Standard applicable in the UK and Republic of Ireland(FRS 102) (effective 1st January 2015) as amended by Updated Bulletin 1 (effective 1 January 2015).
REFERENCE AND ADMINISTRATIVE DETAILS
Charity No. 1123771
Principal Office
19 Adam Close London SE6 3ST
Registered Office
19 Adam Close London SE6 3ST
Trustees
The following Trustees served during the year: E.A. Adeboye T.A. Adesina S.A. Badaru S.O. Bakare
Key Management Personnel
Minister in Charge
Chairman(Board of Trustee)
Secretary
Treasurer
Pastor Olayinka Odogwu Pastor S.O.Bakare Ms.S.A.Badaru Pastor.T.A.Adesina
Accountants
Fredricks Accountants & Co Suite 204 133 Creek Road Greenwich London SE8 3BU
Bankers
HSBC UK 149 Rushey Green Carford London SE6 4BQ
Page 2
REDEEMED CHRISTIAN CHURCH OF GOD - WINNERS SANCTUARY Trustees Annual Report
Objectives and Activities
The Charity is constituted under a Trust Deed dated 3rd July 2004, and Charity number is 1123771 on the central registered of the Charity Commission of England and Wales. The principal objectives of the Charity are the advancement of the Christian faith worldwide and the relief of poverty.
Recruitment and Appointment of New Trustees
Trustees and Members of Committees are appointed by the Church Ministerial Board using the essential skill and assessment method. Priority is given to criteria required to have an effective and efficient Board and Committees. To this end, the Board is carefully grafted with the right mix of skills and experience to discharge its duties and ensure effective governance and management. The trustees serve a term of two years which is renewable at the discretion of the Board. The management of the charity is the responsibility of the Trustees who are appointed and co-opted under the terms of the Trust Deed.
Organizational Structure and Decision Making
The church is organized so that the trustees meet regularly to manage its affairs. There are a full-time Minister and Volunteers, who manage the day-to-day administration of the church.
Related Party Relationships
RCCG-Winners Sanctuary is a member of Redeemed Christian Church of God (RCCG)which has Parishes all over the world. An Agreement governs the relationship for common purposes between the parishes and RCCG.
Development activities and achievement in the year
The trustees are pleased to report that the Church continued to be successful spiritually by ministering to many people. The Church has improved in membership strength and is increasingly reaching out to the community. More focus and greater success were achieved in the area of Evangelism and community outreach. Community Outreach, Sword fellowship for Single, Widows or Divorce, Training for Drama group and Vine youth multipurpose Drop-in service(voice Training) Spectacular Arts School for Non-Christian, Community counselling, Assist the elderly, less privilege, Homeless and Salvation Army with food. As part of our community project, we offer Art, Craft and sewing classes for the resident. Also, we partner with the Samaritan's Purse by making a regular donation during Christmas to children.
Risk Management
The trustees have assessed the major risks to which the Charity is exposed, particularly those relating to the operations and finance and are satisfied with the risk management systems in place to mitigate any exposure. Risk is an everyday part of charitable activity and managing it effectively is essential if the trustees are to achieve their key objectives and safeguard their charity's funds and assets. Therefore, the Charity has developed appropriate Risk Management Framework which consists of the Risk Management Policy and the Risk Management Procedures outline in the operational guidelines.
Future Developments
The Church will continue to explore various ways of spreading the gospel of Christ effectively. Charity is looking to grow in membership and continue to develop its members to make a life-changing impact in society, plant more parishes, open Bookshops, community choir and acquire its property.
Page 3
REDEEMED CHRISTIAN CHURCH OF GOD - WINNERS SANCTUARY Trustees Annual Report
Principal Funding Source
Individual donations and gifts continued to be the main sources of income. Tithe, Pledge, Building and Thanksgiving offering amounted to £29,260 (2020: £32,781). Other incoming resources was from Gift Aid reclaimed, Grant and Central Office Grant. The total of these amounted to £13,784 (2020: £32,393) for the year. All the Voluntary income is unrestricted. Charitable expenditure has also increased with the growth of the church as key departments expand to cater for the growth in visitors and members.
Financial Review
The financial statements cover the operations of Redeemed Christian Church of God Winners Sanctuary, Lee Green, London. For the year ended 31 December 2021, the Statement of Financial Activities shows total incoming resources of £43,044 (2020: £65,174). This was spent mainly on charitable activities and total expenditure amounted to £56,849 (2020: £66,017). We closed the year with a deficit of £13,805 (2020: £843). This deficit has been deducted from the reserves against future accounting periods.
Reserve Policy
The trustees have established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets (the free reserve) held by the church should be 3 months of annual expenditure. At this level, the trustees feel that they would be able to continue the current activities of the church in the event of significant drop in funding.
Statement of Trustees Responsibility
The trustees are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted). The law applicable to charities in England and wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the Trustees are required to:
The trustees are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted). The law applicable to charities in England and wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the Trustees are required to:
a) select suitable accounting policies and then apply them consistently
b) observe the methods and principles in the Charities SORP;
c) make judgments and estimates that are reasonable and prudent;
d) state whether applicable UK Accounting Standards have been followed, subject to any material departures explained in the financial statements;
e) prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
Page 4
REDEEMED CHRISTIAN CHURCH OF GOD - WINNERS SANCTUARY Trustees Annual Report
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP (FRS 102).
Signed on behalf of the board
S.O. Bakare Trustee 23 March 2022
Page 5
REDEEMED CHRISTIAN CHURCH OF GOD - WINNERS SANCTUARY Independent Examiners Report
Independent Examiner's Report to the trustees of REDEEMED CHRISTIAN CHURCH OF GOD - WINNERS SANCTUARY
I report to the charity trustees on my examination of the accounts of REDEEMED CHRISTIAN CHURCH OF GOD - WINNERS SANCTUARY for the year ended 31 December 2021 which comprise the Statement of Financial Activities, the Summary Income and Expenditure Account, the Balance Sheet, the Statement of Cash Flows and the related notes.
Responsibilities and basis of report
As the trustees of the charity (and also its directors for the purposes of company law) you 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 charity 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 as 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 examiner's statement
I have completed my examination. I can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that:
-
accounting records were not kept in accordance with section 386 of the 2006 Act ; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements under 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
-
the accounts have not been prepared in accordance with the Charities SORP (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.
Adesina Otufale FCCA,FFA
Fredricks Accountants & Co Suite 204 133 Creek Road Greenwich London SE8 3BU 23 March 2022
Page 6
REDEEMED CHRISTIAN CHURCH OF GOD - WINNERS SANCTUARY Statement of Financial Activities
for the year ended 31 December 2021
| Notes Income and endowments from: Donations and legacies 4 Investments 5 Other 6 Total Expenditure on: Charitable activities 7 Other 8 Total Net gains on investments Net expenditure 9 Transfers between funds Net expenditure before other gains/(losses) Other gains and losses Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
Unrestricted funds 2021 £ 29,260 - 13,784 |
Total funds 2021 £ 29,260 - 13,784 |
Total funds 2020 £ 32,781 10 32,383 |
|---|---|---|---|
| 43,044 - 56,849 |
43,044 - 56,849 |
65,174 8,303 57,714 |
|
| 56,849 - |
56,849 - |
66,017 - |
|
| (13,805) - |
(13,805) - |
(843) - |
|
| (13,805) | (13,805) | (843) | |
| (13,805) 98,038 |
(13,805) 98,038 |
(843) 98,881 |
|
| 84,233 | 84,233 | 98,038 |
Page 7
REDEEMED CHRISTIAN CHURCH OF GOD - WINNERS SANCTUARY Summary Income and Expenditure Account
for the year ended 31 December 2021
| Income Interest and investment income Gross income for the year Expenditure Depreciation and charges for impairment of fixed assets Total expenditure for the year Net expenditure before tax for the year Net expenditure for the year |
2021 £ 43,044 - 43,044 55,639 1,210 56,849 (13,805) (13,805) |
2020 £ 65,164 10 |
|---|---|---|
| 65,174 | ||
| 64,410 1,607 |
||
| 66,017 | ||
| (843) | ||
| (843) |
Page 8
REDEEMED CHRISTIAN CHURCH OF GOD - WINNERS SANCTUARY
Balance Sheet
at 31 December 2021
| Notes 2021 £ Fixed assets Tangible assets 11 3,717 3,717 Current assets Cash at bank and in hand 104,346 104,346 Creditors:Amount falling due within one year 12 (1,936) Net current assets 102,410 Total assets less current liabilities 106,127 Creditors:Amounts falling due after more than one year 13 (21,894) Net assets excluding pension asset or liability 84,233 Total net assets 84,233 The funds of the charity Restricted funds 14 Unrestricted funds 14 General funds 84,233 84,233 Reserves 14 Total funds 84,233 |
2020 £ 4,927 |
|---|---|
| 4,927 119,749 |
|
| 119,749 (1,638) |
|
| 118,111 123,038 (25,000) |
|
| 98,038 | |
| 98,038 | |
| 98,038 | |
| 98,038 | |
| 98,038 |
These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
For the year ended 31 December 2021 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
Approved by the board on 23 March 2022
And signed on its behalf by:
T.A. Adesina Trustee 23 March 2022
Page 9
REDEEMED CHRISTIAN CHURCH OF GOD - WINNERS SANCTUARY Statement of Cash flows
for the year ended 31 December 2021
| Cash flows from operating activities Net expenditure per Statement of Financial Activities Adjustments for: Depreciation of property, plant and equipment Dividends, interest and rents from investments Increase/(Decrease) in trade and other payables Net cash used in operating activities Cash flows from investing activities Dividends, interest and rents from investments Net cash from investing activities Cash flows from financing activities Repayment of borrowings Net cash (used in)/from financing activities Net (decrease)/increase in cash and cash equivalents Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year Components of cash and cash equivalents Cash and bank balances |
2021 £ (13,805) 1,210 (13,784) 298 (26,081) 13,784 13,784 (3,106) (3,106) (15,403) 119,749 104,346 104,346 104,346 |
2020 £ (843) 1,607 (32,393) (1,544) |
|---|---|---|
| (33,173) 32,393 |
||
| 31,735 | ||
| 25,000 | ||
| 25,000 | ||
| 23,562 | ||
| 96,187 | ||
| 119,749 | ||
| 119,749 | ||
| 119,749 |
Page 10
REDEEMED CHRISTIAN CHURCH OF GOD - WINNERS SANCTUARY Notes to the Accounts
for the year ended 31 December 2021
- 1 Accounting policies
Basis of preparation
The financial statements have been prepared in accordance with 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 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Change in basis of accounting or to previous accounts
There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.
Fund accounting
-
Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.
-
Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values.
-
Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.
Income
-
Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability.
-
Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA.
-
Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income.
-
Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material.
Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets
Page 11
REDEEMED CHRISTIAN CHURCH OF GOD - WINNERS SANCTUARY Notes to the Accounts
Expenditure
-
Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which it relates.
-
Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs.
-
Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
-
Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.
-
Other expenditure These are support costs not allocated to a particular activity.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Tangible fixed assets and depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:
| useful life: | |
|---|---|
| Plant and machinery | 25% Reducing Balance |
| Fixtures, fittings and equipment |
25% Reducing Balance |
Freehold investment property
Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise.
Stocks
Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.
Trade and other debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.
Page 12
REDEEMED CHRISTIAN CHURCH OF GOD - WINNERS SANCTUARY Notes to the Accounts
Trade and other creditors
Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
Foreign currencies
Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period. Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred.
All exchange differences are are taken into account in arriving at net income/expenditure.
Leased assets
Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.
Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases.
Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs.
Assets held under finance leases are depreciated in the same way as owned assets.
Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.
Pension costs
The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.
Receipt of donated goods, facilities and services
All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.
Page 13
REDEEMED CHRISTIAN CHURCH OF GOD - WINNERS SANCTUARY Notes to the Accounts
2 Company status
The company is a private company limited by guarantee and consequently does not have share capital. The Church is a Registered Charity with Charity Commission of England and Wales.
3 Statement of Financial Activities - prior year
| Income and endowments from: Donations and legacies Investments Other Total Expenditure on: Charitable activities Other Total Net income Net income before other gains/(losses) Other gains and losses: Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward 4 Income from donations and legacies Tithe and Offering Thanksgiving 5 Income from investments Interest income |
Unrestricted £ 29,110 150 29,260 |
Unrestricted funds 2020 £ 32,781 10 32,383 65,174 8,303 57,714 66,017 (843) (843) (843) 98,881 98,038 Total 2021 £ 29,110 150 29,260 Total 2021 £ - - |
Total funds 2020 £ 32,781 10 32,383 |
|---|---|---|---|
| 65,174 8,303 57,714 |
|||
| 66,017 | |||
| (843) | |||
| (843) | |||
| (843) 98,881 |
|||
| 98,038 | |||
| Total 2020 £ 32,671 110 |
|||
| 32,781 | |||
| Total 2020 £ 10 |
|||
| 10 |
Page 14
REDEEMED CHRISTIAN CHURCH OF GOD - WINNERS SANCTUARY
Notes to the Accounts
6 Other income
| Grant Rental income Gift Aid Reclaimed Central Office Grant 7 Expenditure on charitable activities Expenditure on charitable activities World Evangelism Mission Mission Donation to other Ministries Governance costs 8 Other expenditure Central Office Dues Advancement and promotion Welfare expenses Employee costs Motor and travel costs Premises costs Amortisation, depreciation, impairment, profit/loss on disposal of fixed assets General administrative costs Legal and professional costs 9 Net expenditure before transfers This is stated after charging: Depreciation of owned fixed assets Independent Examiner's fee |
Unrestricted £ 6,490 - 7,294 - 13,784 |
Total 2021 £ 6,490 - 7,294 - 13,784 |
Total 2020 £ 8,732 600 18,751 4,300 |
|---|---|---|---|
| 32,383 | |||
| Unrestricted £ - - 176 16,142 3,829 23,475 1,210 6,222 5,795 56,849 2021 £ 1,210 600 |
Total 2021 £ - - - - Total 2021 £ - - 176 16,142 3,829 23,475 1,210 6,222 5,795 56,849 |
Total 2020 £ 210 6,113 1,980 |
|
| 8,303 | |||
| Total 2020 £ 600 422 358 21,667 3,330 19,258 1,607 8,969 1,503 |
|||
| 57,714 | |||
| 2020 £ 1,607 600 |
Page 15
REDEEMED CHRISTIAN CHURCH OF GOD - WINNERS SANCTUARY Notes to the Accounts
| REDEEMED CHRISTIAN CHURCH OF GOD - WINNERS SANCTUARY Notes to the Accounts |
REDEEMED CHRISTIAN CHURCH OF GOD - WINNERS SANCTUARY Notes to the Accounts |
REDEEMED CHRISTIAN CHURCH OF GOD - WINNERS SANCTUARY Notes to the Accounts |
REDEEMED CHRISTIAN CHURCH OF GOD - WINNERS SANCTUARY Notes to the Accounts |
|
|---|---|---|---|---|
| 10 Staff costs Salaries and wages 14,190 16,448 Social security costs 906 2,474 Pension costs 596 1,754 15,692 20,676 No employee received emoluments in excess of £60,000. The average monthly number of full time equivalent employees during the year was as follows: 2021 2020 Number Number Mission/Evangelism - 1 Adminstrative 1 1 1 2 11 Tangible fixed assets Plant and machinery Fixtures, fittings and equipment Total £ £ £ £ Cost or revaluation At 1 January 2021 1,106 - 21,938 23,044 At 31 December 2021 1,106 - 21,938 23,044 Depreciation and impairment At 1 January 2021 668 - 17,449 18,117 Depreciation charge for the year 88 - 1,122 1,210 At 31 December 2021 756 - 18,571 19,327 Net book values At 31 December 2021 350 - 3,367 3,717 At 31 December 2020 438 - 4,489 4,927 12 Creditors: amounts falling due within one year 2021 2020 £ £ Trade creditors 1,191 528 Other taxes and social security 145 510 Other creditors 600 600 1,936 1,638 |
16,448 2,474 1,754 |
|||
| 20,676 | ||||
| 2 | ||||
| Total £ 23,044 |
||||
| 23,044 | ||||
| 18,117 1,210 |
||||
| 19,327 | ||||
| 3,717 | ||||
| 4,927 | ||||
| 2020 £ 528 510 600 |
||||
| 1,638 | ||||
| 13 Creditors: amounts falling due after more than one year Bank loans and overdrafts |
2021 £ 21,894 21,894 |
2020 £ 25,000 |
||
| 25,000 |
Page 16
REDEEMED CHRISTIAN CHURCH OF GOD - WINNERS SANCTUARY Notes to the Accounts
14 Movement in funds
| Restricted funds: Unrestricted funds: General funds Revaluation Reserves: Total funds 15 Analysis of net assets between funds Fixed assets Net current assets Creditors due in more than one year and provisions 16 Reconciliation of net debt Cash and cash equivalents Bank loans Net debt |
At 1 January 2021 98,038 98,038 |
Incoming resources (including other gains/losses ) £ 43,044 43,044 Unrestricted funds £ 3,717 102,410 - 106,127 At 1 January 2021 £ |
Resources expended £ (56,849) (56,849) Restricted funds £ - - (21,894) (21,894) Cash flows £ |
At 31 December 2021 £ 84,233 |
|---|---|---|---|---|
| 84,233 | ||||
| Total £ 3,717 102,410 (21,894) |
||||
| 84,233 | ||||
| At 31 December 2021 £ |
||||
| 119,749 | (15,403) | 104,346 | ||
| 119,749 (25,000) (25,000) 94,749 |
(15,403) 3,106 3,106 (12,297) |
104,346 (21,894) |
||
| (21,894) | ||||
| 82,452 |
Page 17
REDEEMED CHRISTIAN CHURCH OF GOD - WINNERS SANCTUARY
Notes to the Accounts
17 Commitments
Operating lease commitments
Annual commitments under non-cancellable operating leases are as follows:
| 2021 | 2021 | 2020 | 2020 | |
|---|---|---|---|---|
| Land and buildings |
Other | Land and buildings |
Other | |
| £ | £ | £ | £ | |
| Operating leases with expiry date: | ||||
| Pension commitments | ||||
| 2021 | 2020 | |||
| £ | £ | |||
| The pension cost charge to the company | ||||
| amounted to: | 596 | 1,754 |
18 Related party disclosures
Controlling party
The Church is a Registered Charity with Charity Commission of England and Wales; thus no single party controls the Church.
Page 18
REDEEMED CHRISTIAN CHURCH OF GOD - WINNERS SANCTUARY Detailed Statement of Financial Activities
for the year ended 31 December 2021
| Income and endowments from: Donations and legacies Tithe and Offering Thanksgiving Investments Interest income Other Grant Rental income Gift Aid Reclaimed Central Office Grant Total income and endowments Expenditure on: Charitable activities World Evangelism Mission Mission Donation to other Ministries Total of expenditure on charitable activities Other expenditure Central Office Dues Advancement and promotion Welfare expenses Employee costs Salaries/wages Employer's NIC Pension costs Training and Conference Motor and travel costs Vehicles - General costs Travel and subsistence Premises costs |
Unrestricted funds 2021 £ 29,110 150 29,260 - - 6,490 - 7,294 - 13,784 43,044 - - - - - - - 176 176 14,190 906 596 450 16,142 3,123 706 3,829 |
Total funds 2021 £ 29,110 150 29,260 - - 6,490 - 7,294 - 13,784 43,044 - - - - - - - 176 176 14,190 906 596 450 16,142 3,123 706 3,829 |
Total funds 2020 £ 32,671 110 |
|---|---|---|---|
| 32,781 | |||
| 10 | |||
| 10 | |||
| 8,732 600 18,751 4,300 |
|||
| 32,383 | |||
| 65,174 210 6,113 1,980 |
|||
| 8,303 | |||
| 8,303 600 422 358 |
|||
| 1,380 | |||
| 16,448 2,474 1,754 991 |
|||
| 21,667 | |||
| 3,330 - |
|||
| 3,330 | |||
Page 19
REDEEMED CHRISTIAN CHURCH OF GOD - WINNERS SANCTUARY Detailed Statement of Financial Activities
| Rent Rates Light, heat and power Leasehold payment General administrative costs, including depreciation and amortisation Depreciation of Plant and machinery Depreciation of Fixtures, fittings and equipment Depreciation of Conference/Seminars Bank charges Community work Equipment repairs and maintenance Publicity and Evangelism General insurances Honorariums Children and Teenage Postage and couriers General Office expenses Telephone, fax and broadband Legal and professional costs Audit/Independent examination fees Consultancy fees Other legal and professional costs Total of expenditure of other costs Total expenditure Net gains on investments Net expenditure Net expenditure before other gains/(losses) Other Gains Net movement in funds Reconciliation of funds: |
14,418 1,975 1,170 5,912 23,475 88 - 1,122 1,815 15 - - - - 3,485 - 604 275 28 7,432 600 950 4,245 5,795 56,849 56,849 - (13,805) (13,805) - (13,805) |
14,418 1,975 1,170 5,912 23,475 88 - 1,122 1,815 15 - - - - 3,485 - 604 275 28 7,432 600 950 4,245 5,795 56,849 56,849 - (13,805) (13,805) - (13,805) |
5,781 2,456 1,512 9,509 |
|---|---|---|---|
| 19,258 | |||
| 110 - 1,497 - - 1,178 1,812 1,415 1,288 355 551 912 395 1,063 |
|||
| 10,576 | |||
| 600 - 903 |
|||
| 1,503 | |||
| 57,714 | |||
| 66,017 - |
|||
| (843) | |||
| (843) - |
|||
| (843) | |||
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REDEEMED CHRISTIAN CHURCH OF GOD - WINNERS SANCTUARY Detailed Statement of Financial Activities
| REDEEMED CHRISTIAN CHURCH OF GOD - WINNERS SANCTUARY Detailed Statement of Financial Activities |
|||
|---|---|---|---|
| Total funds brought forward Total funds carried forward |
98,038 84,233 |
98,038 84,233 |
98,881 |
| 98,038 |
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