2022-03-31-accounts - Redeemed Christian Church Of God - Majesty Connections

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forthe year	e	nde	d 31March	2022
					Unrestricted
					funds	Total funds	Total funds
					2022	2022	2021
				Notes	E		E
Income and	endowments
from:
Donations	and		legacies		150,166	150,166	88,623
Other					40,663	40,663	126,664
Total					190,829	190,829	215,287
Expenditure		on:
Charitable	activities				125,516	125,516	115,432
Other					26,403	26,403	25,196
Total					151,919	151,919	140,628
Net gains on		investments
Net income					38,910	38,910	74,659
Transfers between funds
Net income		before other			38,910	38,910	74,659
gains/(losses)
Other gains		and	losses
Net movement			in funds		38,910	38,910	74,659
Reconciliation offunds:
Total funds	brought forward				130,840	130,840	56,181
Total funds		carried forward			169,750	169,750	130,840

ummary Inc for the year	ome and Expenditure Account ended 31March 2022
		2022	2021
		E	E
Income		190,829	215,287
Gross income forthe year		190,829	215,287
Expenditure		132,845	124,880
Depreciation impairment	and charges for offixed assets	19,074	15,748
Total expenditure for the year		151,919	140,628
Net income	before tax forthe year	38,910	74,659
Net income	for the year	98,919	74,999

at 31March 202	2	2	2
Company No.	09409995			Notes	2022	2021
					6	6
Fixed assets
Tangible assets					43,709	47,687
					43,709	47,687
Current assets
Debtors				12	2,506
Cash at bank	and		in hand		123,794	86,540
					126,300	86,540
Creditors: Amount		falling due within one year		13	(259)	(3,387)
Net current assets					126,041	83,153
Total assets less	current liabilities				169,750	130,840
Net assets excluding			pension asset or liability		169,750	130,840
Total net assets					169,750	130,840
The funds ofthe	charity
Restricted funds				14
Unrestricted funds				14
Generalfunds					169,750	130,840
					169,750	130,840
Reserves				14
Total funds					169,750	130,840

			2022	2021
				E
Cash flows from operating	activities
Net income per Statement	of Financial Activities		38,910	74,659
Adjustments for:
Depreciation ofproperty, plant and equipment			19,074	15,748
Dividends, interest and	rents from investments		(40,663)	(126,664)
Increase in trade and other receivables			(2,506)
Decrease in trade and other payables			(3,128)	(7,598)
Net cash provided by/(used	in) operating activities		11,687	(43,855)
Cash flows from investing	activities
Payments for property,	plant and equipment		(15,096)	(14,548)
Dividends, interest and	rents from investments		40,663	126,664
Net cash from investing activities			25,567	112,116
Net cash from financing activities
Net increase in cash and cash equivalents			37,254	68,261
Cash and cash equivalents	at the beginning	ofthe year	86,540	18,279
Cash and cash equivalents	at the end ofthe year		123,794	86,540
Components ofcash and cash equivalents
Cash and bank balances			123,794	86,540
			123,794	86,540

3 Statemen	t	ofF	inancial	Activities -prior year
					Unrestricted	Restricted
					funds	funds	Total funds
					2021	2021	2021
Income and endowments				from:
Donations		and	legacies		70,310	18,313	88,623
Other					58,506	68,158	126,664
Total					128,816	86,471	215,287
Expenditure	on:
Charitable		activities			49,181	66,251	115,432
Other					25,156	40	25,196
Total					74,337	66,291	140,628
Net income					54,479	20,180	74,659
Net income before			other
gains/(losses)					54,479	20,180	74,659
Other gains and losses:
Net movement		in funds			54,479	20,180	74,659
Reconciliation		offunds:
Total funds brought			forward		56,181		56,181
Total funds carried			forward		110,660	20,180	130,840
4 Income from donations				and legacies
					Unrestncted	Total	Total
						2022	2021
					E	E	E
Voluntary		Donations			77,126	77,126	70,310
Foodbank		Donations			73,040	73,040	18,313
					150,166	150,166	88,623

				Unrestricted	Unrestricted	Total	Total
						2022	2021
	Foodbank &	LYN Grant					68,158
	Other Grants			40,663		40,663	58,506
				40,663		40,663	126,664
6	Expenditure	on charitable	activities
				Unrestricted		Total	Total
						2022	2021
	Expenditure	on charitable
	activities
	Advancement	of Christian
	Faith			62,499		62,499	49,287
	Relief of Poverty			51,244		51,244	49,741
	Grants made				5,541	5,541	10,910
	Governance	costs
	Governance				6,232	6,232	5,494
				125,516		125,516	115,432
7	Analysis ofgrants
				Grants	to
	Activity or programme			Institutions		Total	Total
						2022	2021
	Advancement	ofChristian
	Faith				5,541	5,541	10,910
					5,541	5,541	10,910
				Activities
				undertaken
	Activity or programme			directly		Total	Total
						2022	2021
	Advancement	ofChristian			5,541	5,541	10,910
	Faith
					5,541	5,541	10,910

8	Other expenditure
							Unrestricted	Total	Tota I
								2022	2021
	Other Ministry Expenses						3,199	3,199	2,953
	Amortisation, depreciation,
	impairment, profit/loss		on				19,074	19,074	15,748
	disposal offixed assets
	General administrative		costs				1,895	1,895	2,591
	Legal and professional	costs					2,235	2,235	3,904
							26,403	26,403	25,196
9	Net income before transfers
							2022		2021
	This isstated after charging: Depreciation ofowned fixed assets Independent Examiner's fee						E 19,074 750		E 15,748 750
10	Staff costs
	No employee received		emoluments	in excess ofE60,000.
	The average monthly	number offull time equivalent				employees	during the year 2022	was as follows:	2021
							Number		Number
	NEST
11 Tangible fixed assets								Furniture
				Land and		Church	Motor	and Office	Total
				buildings	Equipment		Vehicle	Equipment
								E
	Cost or revaluation At 1April 2021 Additions			62,339		18,782 14,827	3,636	11,463 269	96,220 15,096
	Disposals At31March 2022			62,339		33,609	(3,636)	11,732	(3,636) 107,680
	Depreciation and
	impairment At 1April 2021			27,561		9,426	3,636	7,910	48,533
	Depreciation charge for the			10,169		7,603		1,302	19,074
	year Disposals At 31 March 2022			37,730		17,029	(3,636)	9,212	(3,636) 63,971
	Net book values At 31March 2022 At31 March 2021			24,609 34,770		16,380 9,356		2,520 3,553	43,709 47,687

12 Debtors
				2022		2021
				E		E
Other debtors				2,506
				2,555
13 Creditors:
amounts	falling due within one year
				2022		2021
				E		E
Other taxes and social security				259		3,387
				255		3,357
14 Movement in		funds
				Incoming
				resources		At31
				(including	Resources	March
				other	expended	2022
			At 1April	gains/losses
			2021	j
				E
Restricted funds:
Unrestricted		funds:
General	funds		130,840	190,829	(151,919)	169,750
Total funds			130,840	190,829	(151,919j	169,750
15 Analysis	ofnet assets between funds
				Unrestricted	Restricted	Total
				funds	funds
				E	E	E
Fixed assets				43,709		43,709
Net current		assets		96,266	29,775	126,041
				139,975	29,775	169,750
16 Reconciliation ofnet debt
						At 31
				At1April		March
				2021	Cash flows	2022
				E	E	E
Cash and cash equivalents				86,540	37,254	123,794
				86,540	37,254	123,794
Net debt				86,540	37,254	123,794

	Annual com	mitments under	non-cancellable ope	rating leases are as f	ollows:
				2022	2022	2021	2021
				Land and		Land and
					Other		Other
				buildings		buildings
				f		f
	Operating	leases with expiry	date:
	Over five	years				238,334
						238,334
	Pension commitments
					2022		2021
					f		f
	The pension cost charge to the company
	amounted	to:					792
18	Related party disclosures
	Name ofrelated party		VICTOR OLADELE
	Description	ofrelationship	SPOUSE TO Ail BOLA OLADELE
	between the parties
	Description	oftransaction	ADMINISTRATION	OF FOODBANK AND
	and general amounts		ORGANISATION
	involved
	Controlling	party

					Unrestricted
					funds	Total funds	Total funds
					2022	2022	2021
					f	E	E
Income and endowments				from:
Donations and legacies
Voluntary Donations					77,126	77,126	70,310
Foodbank Donations					73,040	73,040	18,313
					150,166	150,166	88,623
Other
Foodbank & LYN Grant							68,158
Other Grants					40,663	40,663	58,506
					40,663	40,663	126,664
Total income and endowments					190,829	190,829	215,287
Expenditure on:
Charitable activities
Advancement ofChristian				Faith	62,499	62,499	49,287
Relief of Poverty					51,244	51,244	49,741
Grants made					5,541	5,541	10,910
					119,284	119,284	109,938
Governance costs
Governance					6,232	6,232	5,494
					6,232	6,232	5,494
Total ofexpenditure activities	on		charitable		125,516	125,516	115,432
Other expenditure
Other Ministry Expenses					3,199	3,199	2,953
					3,199	3,199	2,953
General administrative			costs,
including depreciation			and
amortisation
Depreciation ofland buildings		and			10,169	10,169	10,170
Depreciation ofChurch Equipment					7,603	7,603	3,489
Depreciation ofMotor			Vehicle
Depreciation of Furniture Office Equipment				and	1,302	1,302	2,089
Bank charges					290	290	372
General insurances					474	474	1,188
Software, ITsupport		and		related	280	280	462
costs
Sundry expenses					420	420	457

RCCG Majesty Connections Detailed Statement of Financial Activities	RCCG Majesty Connections Detailed Statement of Financial Activities
Telephone, fax and broadband		431	431	112
Legal and professional	costs	20,969	20,969	18,339
Management charges		2,235	2,235	3,904
		2,235	2,235	3,904
Total ofexpenditure of	other costs	26,403	26,403	25,196
Total expenditure		151,919	151,919	140,628
Net gains on investments
Net income		38,910	38,910	74,659
Net income before other
gains/(losses)		38,910	38,910	74,659
Other Gains
Net movement in funds		38,910	38,910	74,659
Reconciliation offunds:
Total funds brought forward		130,840	130,840	56,181
Total funds carried forward		169,750	169,750	130,840