Charity Number: 1130539 RCCG- ve Assembly Liverpool TRUSTEES. REPORT AND FINANCIAL ACCOUNTS FOR THE YEAR ENDED 31 ST MAY 2022
CONTÈNTS FOR THE YEAR ENDED 31ST NIAY 2022 RCCG - Love Assembly CONTENTS Page Charity's General Inforniation Trustees Report Independent Examinerfs Report Balance Sheet Notes to the Financial Statements Stalemcnl of Financial Activities
RCCG - Love Assembly GENERAL INFORMATION FOR THE YEAR ENDED 31ST MAY 2022 ChArfty'S General InformatloD TRUSTEES: Pastor Kolawole Hamzat (Chair ) Mr OlugbeT]ga Emmanuel Dararnola Mr Philip Adebukola Adegbola PASTOR IN CHARGE: Pastor Ayodeji Olufolahan Olaoye PRINCIPAL AND WORSHIP OFFICE: Crawford House 2 Gwent Street Liverpool, United Kingdom. L8 8DN CHARITY REGISTERATION NUMBER: 130539 BANKERS: National Westtninster Bank PIC Liverpool L156YD ACCOUNT ANTS: Richflo Atcounting Services 4 Deeroak Close Manchester M18 8AF Page I
RCCG - Love Assembly TRUSTEES, REPORT FOR THE YEAR ENDED 31 ST MAY 2022 FINANCIAL PERFORMALICE AND REVIEW OF ACTIVITIES: During the year total income of £169,782 was realised and Expenditure Resource of £88,127 M'as incurred on charitable activities. Included in the total income was £47,132 donations received iowards rcstricted building funds. The finan¢ial year in view witnessed a gradual increase and return to some of our charitable programme$ and church services, following the outbreak of the Covid-19 pandemic in the previous year 2020121 which impacted on almost all the CIMrity activities. It biTthcd morc innovation in the use of tecbnology. online streaming and remote working patterns to community outreach events and church services. The use of a temporary office and lii'e slreaniing from tbe residence of the Pastor tILat was couverted inlo a broadcast studio still continued for the period of this report. The charily has ¢ontinved to reinvent op¢rdtion5. Conducting trainings. and counselling online to her service users. There was more distribution of palliatives to farnilies and individuals affected by the pandemic. During Christmas, in collaboration NN'ith Samaritan's Purse UK 100 children in disadvantaged families were sent Christinas boxes. In collaboration with Compassion UL the sponsorship of Children continued through thc financial period. The Charity has been very successful aT)d effective with the online outreach and participation has driven an increase in the physical attendanee on Sunday Meings, with new m¢mbers joining the volunteering teams. This ycar a new outreach initiative called #Project Isaiah 60 was launched.. _ an outreach that executed projects that.. engaged with over 20 women in Asylum providing basic amenities and football kits. set up breakfast club serving an average of 50 - 55 children monthly, a health and wellness workshop and free health check for over 100 8ervice users. A podcast on 5¢tt1ing to life in the UK was launched whi¢h provided a one-stop guide helping new inunigrants especially to the city of Liverpool. The restricted fund for future building acquisition was boosted with surplus funds saved. acquisition of a new charity owned building is ongoing and planned for completion in the next financial year. The Trustees are pleased to [crt that the church has continued to be very successhl in ministering to many people, through the various online and digital initiatives. The cknity aims to continually build upon its current achieven]ents, effectively spreading the ethos of love and unity while promotiDg the Christian faith through innovations and initiatives as the pandemic wes over the llcxt months and years to comc. The charity's Trustees are responsible for preparntion of financial slatements in compliance with requiremcnls as to its fonn and contents under section 132 (1) of the Charities Act 2011 and that an independent examination needed is needed. In preparing these financial stalements, Trustees are required to: select suitable accounting policies and then apply them consistently make judgern¢nts and estimates that are reasonable and prudent prepare tbe fmancial statements Oll the going concern basis unless it is inappropriate to presun]e thai the church will continue in operational service. * the financial slalements are prepared as requkred by law to give a Irue and fair view of the stste of affairs of the church surylus or deficit for that period. and safeguard the assets of the church. Page 2
RCCG . Assembly TRUSTEES. REPORT FOR THE YEAR ENDED 31ST MAY 2022 iNDEPENDEKf EXAMiNERS: Tlie Tnjsipes app)inied R5chno AcccH]niln8 SeCts a5 Its kndepeThJenl exaMIne A M)luikJn for aPIn1- mcnt will be PTOP05ed thjthg the next TnÈeUn8. This rep)rt W&5 aprrfoved by ihe TTr(e¢S on 21A Fei¥uary 2023 •MI s[ed behalf by trustee.. NamE orTnlet'. Si8naiure. Pay3
RCCG - Love Assembly INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 3 1ST MAY 2022 I have examined the draft Unaudited Management Aollnts. which comprises Ihe financial activities, incomes and expenditures with Balance Sheet and the related Notes on pages 6 to 8 and the accounting policies of the RCCG LOVE ASSEMBLY, Liverpool for the year ended 3 1st May 2022. This report is made solely to the Charity,s TnteeS are responsible for the preparation of tbe accounts. The Trustees consider audit is not required for this ycar under section 160(1) of the Charities Act 2011 and that an independent examinatiotL is needed. Respective responsibilities of Trustees 2nd Independent Exgminer: As described on page 4, the Trustees are responsible for the preparation of financial statements. It is Tny res onsibility to Carry out an independent examination of those financial statements and io issue a report based on that examination. Scope Of examiner's Statement: I conducted my examination in line wtth directions given by the Clwity Commission under section 145(5) of the Charities Aci 2011. An examination includes review of accounting records kcpt by the charity and comparison of the financial statements with those records as well as oxplanations from the lrnstees concerning the records. The procedures undertaken do not provide all thc evidence that would be required in an audit. Consequently no audit opinion is given and the report is limited to the statements b¢low'. Independent examiners statement: We, as independent examiner have the requisite ability and practical experience to carry out a competent examination of the accounts in accordanee with section 145(1)(a) of the Clwities Act 2011. In connection with our exarnination. no matter has come lo my attention- Which gives me reasonable cause to believe in any material respect the requirements: to keep aceounling records in accordance wilh section 130(1) of the Charities Act 2011. and to prepare financial statements which comply with th¢ accounting rcquirements of section 132(1) of the Charities Act 2011, have noi been met- or li. To which in our opinion, attention should be drawn in order to enable a prop¢r understanding of the financial ststements to have been prepared Signed.. and dated 21st February 2023 Richflo Accounting Services 4 Deeroak Close Mallcliester M18 8AF Page 4
RC'('.C. l.ovt Awnthjy I,'I)11 THL I'Llk ENDED 31ST MAY 2022 FIXED ASSErs '14llRlble AssEts 2022 2021 Ndes CURRE AssErs PrepayiiienLs C.6t%hlBank 10.404 175,100 185.504 9.863 139.477 119.340 CREDITORS 4fii¢)Iini Diiv Wlihln l Ypar NET CURRENT ASSETSI(LIABILrrIESI CREDITORS (SL} 17501 185.fmm 148,590 .4J)itsiini Di1 Aficr l YE TOTAL NET ASSETSIILIABILITIE51 CIIARITY FUNDS 10} ZO2 910 163 254 General R?%trn'eÈ fur Iho Yeor 202.910 20Z 910 163.254 163 254 TIM. tjllslE ivere &iiislled Ihai the chaTliy b enliiled to exeThwiioll (rom wdli wMIEf 5ectlon 160{1) tsf Iht C'h1(& A£1 2011 for ihe arenun8 peTlrpJ eThlEd 31 May 2022. rhr Inislets acknowled8e their res>1bll15es for. '.Il pn511ring Ihai the charilabie cornpany keePsaC¢81ttords whlch complylth secttoro 130 of the C-.liarilics Aci 2011: and lill PPdring ftnancla] staicmems which 8ive a Ifue Ind fr v5ew of the 4ateof aff•1 of tht duritable as at i.'Ir L'nd of Ihc in wilh Sec0 13211) of C]e5 Act 2011. '.pproved by Iho Tntstees on 2ffist Felxu8ry 2tr23. and sId on i1b&r ljy the trustees.. '11 ofTrusitt'. 8nalure-. Page S
RCCG - Love Assembly NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 3 1ST MAY 2022 I. ACCOUNTING POLICIES The financial statement5 have been PT¢pared in accordance with applicable Accounting Standards in United Kingdom with the application of FRSSE and Statement of Recomrncnded Practice Accounting and Reporting by Charities (SORP 2000 & 2005) issued by the Charity Commission. Asummary of the principal accounting policies, which have been applied consistently is set out below: (a) Basis of Preparatlon of FRnancial Stetements; The financial statements are prepared under the historic cost convention and include the result of charity's operation, which are described in the Truslee's ReporL of which are continuing. (b) Incoming Resources: All incornes is credited to thc Statement of Financial Activities on the earlicr date of when they are received or when they are receivable. (¢) Restricted Funds: Building Funds R¢stricted funds are to be used for specific purposes within the objects of the charity. Expenditures which meet thesc specific criteria, will be matched wilh a fair allocation of management and support costs. There is rcstri¢ted building fimds amount of £47,132 during the year. (d) Unrestricted Funds: Unrestricted funds are donations. offerings and other incomes generated for the objects of the charity without further specific purposes and are available for general and public funds. (e) Resources Expended: Direct Charitable expenditure includes all expenditure incued by the charity in direct pursuit of its charitable objectives. Governance expenditure includes all costs incurred which relates to the charitable aT]d for administaration of the charity in compliance with constitutional and statutory requirements. Tanglble Fised Assets and Depreciation: Tangible fixed assets are statcd al cost less depreciation. Depreciation is provided at rates in order to write off the cost of each assets, less their estimated residual value over its estimated useful life as follows-. Furnitur¢ and Fittings 250/0 at reducing balance Church Equipment & Van 250/ts at reducing balance Motor V¢hicles 250/0 at reducing balance Page 6
RCCG - Love Assembly NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 3 1ST MAY 2022 2 TANGIBLE FIXED ASSETS: COST I VALUATION: Furniture Equipment Fittings &Van Motor Vehicles 2022 TOTAL 2021 TOTAL Opening Balance Additions Closing Balance 16.824 26,238 9,072 24,904 67,966 9,072 62,770 5,197 Depreciation Opening Balance Charge for the period Closing Balanee 12,910 979 18,258 4,?63 21,995 727 53,163 5,969 48,228 4,935 Net Book Value Opening Balance Closin(p Balance 3,914 7,981 2.909 14,804 14,542 3 PREPAYMENTS: Prcpaymcnts 10,404 9,863 4 CREDITORS: Amount Due Within l Year Accountant Fees 500 500 750 750 5 CREDITORS: Amount Due after l Year Car Finance- Due 1-5 years Balance Brought Forward Lcss.. Repa)entS Balance Carried Forward 140 140 1,080 940 140 6 MOVEMENT IN STATEMENT OF FUN'DS Net Funds Brought Forward Funds Movement - Surplus/(Deficit) Net Funds Carried Forward 163,254 39,655 202 910 160,474 2,780 163 254 Page 7
RCCG - Love Assembly STATEMENT OF FtNANCIAL ACTIVITIES FOR THE YEAR ENDED 3 1ST MAY 2022 2022 TOTAL Funds 2021 TOTAL Funds Unrestricted Restricied Funds Funds 7. FUNDS MOVEMENT". Incon]ing Resources Fund Transferred to Reserve Resource Expended Notes 122.650 (o) (88.127) 47.132 (42,000) 169,782 (42,000) (88.127) 86,586 (01 (83,806) 8. INCOMING RESOURCES: Tithes and Offerings Donations Furlough Grants Gift Aid Bank Tnleresl Inrne Building Funds TOTAL INCOME: 88,783 11,563 1,485 20.819 10 47.087 88,793 58.650 1,485 20,819 35 72,656 12,229 35 1,701 122 650 169 782 9. RESOURCES EXPENDED: Charitable Activities Governance Costs TOTAL EXPENDETURE: io 36,502 51.625 36.502 51,625 38.938 44,867 10 Charitable Activitles Rent & Rates Conferences, SerninaTS Donaiions & Welfare Utilities, Phone & Internel Bills World Evangelical Missions 18,014 1.521 5.968 491 10.508 18,014 1,521 5,968 491 10,508 13,437 3,038 1,477 2,925 10,874 I l Governance Costs Transport, Vehicle & Hire Expenses Repair and Maintenance Printing, Stationery. Postages & Books Accountancy & Payroll Fees Depreciation of Assets Subscription Fees ProfessionaVAdministration Fees Insurance & Licences Bank Charges Staff Salaries & Allowances Training Expenses 5.675 2.347 874 500 5.969 2.428 5.613 4.995 253 22,091 880 5,675 2.347 874 500 5,969 2.428 5.613 4,995 253 22,091 880 2,104 7,522 428 750 4,935 1,904 306 4,419 254 18,073 Page 8