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Charity `Charity` Number: `Number:` 1130539 `1130539` RCCG `RCCG - Love` - Love Assembly `Assembly` Liverpool `Liverpool` TRUSTEES' `TRUSTEES' REPORT` REPORT AND `AND` FINANCIAL `FINANCIAL` ACCOUNTS `ACCOUNTS` FOR `FOR THE YEAR` THE YEAR `ENDED` ENDED `31ST` 31ST `MAY` MAY `2024` 2024 ## `S RCCG - LOVE ASSEMBLY` ° SB» RCCG - LOVE ASSEMBLY ## `CONTENTS` CONTENTS FOR `FOR THE YEAR` THE YEAR ENDED `ENDED` 31ST `31ST MAY` MAY 2024 `2024` ## CONTENTS `CONTENTS` **----- Start of picture text -----**
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## `S RCCG - LOVE ASSEMBLY` 2@3* CCG - LOVE ASSEMBLY > GENERAL `GENERAL` INFORMATION `INFORMATION FOR` FOR THE `THEYEAR` YEAR ENDED `ENDED` 31ST `31ST MAY` MAY `2024` 2024 Charity's `Charity'sGeneral` General `Information` Information ## `TRUSTEES:` TRUSTEES: ## PASTOR `PASTOR` IN `IN` CHARGE: `CHARGE:` ## PRINCIPAL `PRINCIPAL AND` AND WORSHIP `WORSHIP` OFFICE: `OFFICE:` Pastor `Pastor` Kolawole `Kolawole` Hamzat `Hamzat (Chair` (Chair `)` ) Mr `Mr Olugbenga` Olugbenga Emmanuel `Emmanuel` Daramola `Daramola` Mr `Mr` Philip `Philip` Adebukola `Adebukola` Adegbola `Adegbola` Pastor `Pastor` Ayodeji `Ayodeji` Olufolahan `Olufolahan` Olaoye `Olaoye` Crawford `Crawford House` House 2 `2` Gwent `Gwent Street` Street Liverpool, `Liverpool,` United `United Kingdom.` Kingdom. `L8` L8 8DN `8DN` ## CHARITY `CHARITY` REGISTERATION `REGISTERATION NUMBER:` NUMBER: ## `BANKERS:` BANKERS: ## ACCOUNTANTS: `ACCOUNTANTS:` > `1130539` 1130539 National `National Westminster` Westminster Bank `Bank` Plc `Plc Liverpool` Liverpool LI56YD `LI56YD` Richflo `Richflo Accounting` Accounting Services `Services 4` 4 Deeroak `Deeroak` Close `Close Manchester` Manchester `MI8` M18 8AF `8AF` > `Page` Page 1 `1` G3: `O RCCG` RCCG `[-]` - LOVE `LOVE` ASSEMBLY `ASSEMBLY` TRUSTEES' `TRUSTEES'REPORT` REPORT `FOR THE YEAR` FOR THE YEAR `ENDED` ENDED `31ST` 31ST `MAY` MAY `2024` 2024 FINANCIAL `FINANCIAL PERFORMANCE` PERFORMANCE `AND` AND REVIEW `REVIEW` OF `OF ACTIVITIES:` ACTIVITIES: During `During the` the `year` year total `total income` income of `of` £216,317 `£216,317 was` was realised `realised` and `and Expenditure` Expenditure `Resource` Resource of `of` £124,578 `£124,578` was `was incurred` incurred on `on` charitable `charitable` activities. `activities. Includcd` Included `in` in the `the total` total income `income was` was `£56,998` £56,998 donations `donations received` received `towards` towards `restricted` restricted building `building funds.` funds. The `The Trustecs` Trustees `are` are `pleased` pleased `to` to `report` report `that` that `this` this financial `financial year` year is `is a` a `testament` testament `to` to the `the` steady `steady` increase `incrcase and` and return `return` of `of our` our charitable `charitable outrcach` outreach initiatives `initiatives` and `and` church `church services.` services. `It` It `has` has `becn` been a `a` positive `positive rise` rise `from` from `the` the `penultimate post-covid` penultimate post-covid `lockdown` lockdown `years of` years of the `the` pandemic `pandemic` in `in` 2020 `2020 to` to `2022,` 2022, which `which impacted` impacted almost `almost` all `all Charity` Charity `activities.` activities. The `The` use `use` of `of advanced` advanced innovations `innovations in` in `technology,online streaming and` technology, online streaming and `remote` remote `working` working `patterns` patterns has `has` continued `continued lo` to enhance `enhance` community `community` outreach `outrcach cvents and` events and church `church` services. `services.` The `The` set-up `set-up` of `of` a `a temporary` temporary studio/office `studio/office where` where mid- `mid weck` week `live` live streaming `streaming from` from the `the` residence `residence of the` of the also `also` Pastor/Charity `Pastor/Charity Coordinator continued` Coordinator continued `for` for `this` this period. `period.` > `The` The charity `charity` has `has` continued `continucd` to `to` reinvent `reinvent` operations, `operations,` conducting `conducting` trainings, `trainings, ofering` offering counselling `counselling` online `online` to `to` her `her` > `service` service users. `users.` Our `Our` partnership `partnership` with `with` other `other` charitable `charitable organisations` organisations `continucd` continued in `in the` the year: `year:` 1. `1.Compassion` Compassion `UK` UK saw `saw` a `a` total `total` educational `educationalsponsorship` sponsorship of `of` over `over` 50 `50` children `children living` living in `in` poverty; `poverty;` 2. `2. A` A `total` total amount `amount` of `of £1 ,885` £1,885 `was` was `raised` raised during `during the` the `annual` annual Christmas `Christmas` collaboration `collaboration` with `with Samaritan's` Samaritan’s Purse `Purse` UK, `UK,` ensuring `ensuring` that `that 100` 100 children `children` in `in` disadvantaged `disadvantaged families` families were `were` sent `sent` Christmas `Christmas` boxes. `boxes.` Our `Our in-house welfare` in-house welfare operations `operations` continued `continucd` providing `providing` families `families` basic `basic` food, `food, clothes,` clothes, and `and` small `small grants` grants `to` to help `help` with `with` their `their` accommodation `accommodation and` and `associated` associated `bills.` bills. `Other` Other programmes `programmes and` and `outreaches` outreaches `[like]` like `Breakfast` Breakfast club `club` to `to` young `young people,` people, `digital` digital `online` online services, `services, trainings` trainings and `and workshops` workshops `increased` increased `participation,` participation, `leading` leading `to` to `increased` increased `physical` physical `attendance` attendance `on` on `Sunday` Sunday `meetings.` meetings. New `[New]` members `[members]` joined `joincd to` to volunteer `volunteer in` in various `various church` church teams. `tcams. The` The #Project `#Project Isaiah` Isaiah 60, `60, an` an outreach `outreach that` that `executed` executed projects `projects continued` continued to `to` be `be successful.` successful. The `The` summer `summer` internship `internship programme` programme `launched` launched the `the` previous `previous year and` year and continued `continued this` this `ycar.` year. 10 `10` young `young` people `pcoplc betwccn` between ages `ages` | `11-16` 1-16 years `years` were `[were]` employed, `[employed,]` engaged `[engaged][and]` and given `[given work]` work `[experience]` experience `[for]` for 6 `[6]` weeks `[wecks] over` over the `[the]` summer, `[summer,]` which `[which][included]` included `[work]` work `in` in `Digital` Digital Marketing, `Marketing,[1.T,]` I.T, `[Branding, Administration,Videographers]` Branding, Administration, Videographers `[and]` and Photographers. `Photographers.` All `Allthe` the young `young` people `pecople` also `also` gained `gained` online `online` qualifications `qualifications` and `and certifications` certifications `in` in `their` their `field` field `of` of[interest] `interest` whilst `whilst` on `on` the `the` internship `internship` programme. `programme. This` This year `ycar` also `also` recorded `recorded[other]` other projects `projects like` like `the` the `Break` Breakfast `[fast][Club]` Club `serving` serving `an` an `average` average `[of]` of `[50]` 50 — `-` 55 `[55][ children]` children `monthly,` monthly, we `[we] also` also `successfully` successfully `ran` ran `the` the annual `annual[health]` health `and` and `wellness` wellness workshop `[workshop] and` and `free` free `health` health checks `checks for` for over `over[150]` 150 `[service]` service `users.` users. `The` The `[restricted]` restricted `fund` fund `for` for building `building[acquisition]` acquisition `was` was `boosted` boosted `[with]` with `[ more]` more `[free-will]` free-will `donations` donations `[and]` and `[savings]` savings made `[ made][from]` from `surplus` surplus `funds` funds `[over]` over the `[the][ years,]` years, and `and` we `we` are `are pleased` pleased `to` to announce `announce that` that `the` the `charity` charity completed `completed the` the `acquisition` acquisition of `of her` her building `building` this `this financial` financial `year.` year. The `The final` final `exchange` exchange `[of keys]` of[keys] `[took]`[took] `place`[place] `on`[on] `February`[February] `[2,]`[2,] `[2024,]`[2024,] `[and]`[and] `[the]`[the] `[final]`[final] `relocation`[relocation] `of` ofthe `[the]` charity `charityoffice` office `occurred` occurred `[on]` on May `[May]` 26th, `[26th,]` 2024 `2024` with `with the` the[first] `first Sunday` Sunday `service` service held `held`[at] `at our` our `new` new permanent `pemanent address` address `[in]` in `[the]` the `[Toxteth]` Toxteth `[area]` area `of` of Liverpool. `Liverpool. The` The Trustees `[Trustees]` are `[ are]` pleased `[pleased][to]` to report `report that` that `the` the church `church continued` continued `[to]` to `[be]` be `[very]` very successful `[successful] in` in `ministering` ministering to `to` many `many people,` people, through `through[the]` the various `various online` online and `[and] digital` digital `initiatives.` initiatives. The `[The][ charity]` charity aims `aims` to `to continually` continually `build` build upon `upon its` its `current` current achievements, `achievements,[eflectively]` effectively `spreading` spreading `[the]` the `[ethos]` ethos `[of]` of love `[love][and]` and `[unity]` unity while `while promoting` promoting the `the` Christian `Christian faith` faith through `through` various `various innovations` innovations `[and]` and `initiatives.` initiatives. > `Page` Page `2` 2 ## <3* RCCG- `RCCG -` Love Assembly `Love Assembly TRUSTEES'` TRUSTEES' `REPORT` REPORT `FOR THE YEAR` FOR THE YEAR `ENDED` ENDED `31ST` 31ST `MAY` MAY `2023` 2023 The `The charity's` charity's `Trustees` Trustees `are` are `responsible` responsible for `for preparation` preparation `of` of financial `financial` statements `statements in` in compliance `compliance` with `with` requirements `requirements` as `as to` to its `its form` form and `and` contents `contents` under `under` section `section 132` 132 (1) `(1)` of `of the` the Charities `Charities` Act `Act` 2011 `2011` and `and that` that an `an indepcndent` independent examination `examination` needed `necded` is `is necded.` needed. `In preparing thesc` In preparing these financial `financial statements,` statements, Trustees `Trustces are` are `required` required to: `to: *select` * select `suitable` suitable `accounting` accounting policies `policics` and `and then` then `apply` apply them `them` consistently `consistently` - `makejudgements` * `makejudgements` make `judgements` judgements and `and` estimates `cstimates` that `that are` are `reasonable and` reasonable and prudent `prudent` - `makejudgements and cstimates that are reasonable and prudent` > `*prepare` * prepare `the` the financial `financial statementson` statements on the `thc` going `going` concern `concern` basis `basis` unless `unless` it `it is` is `inappropriatc` inappropriate to `to` * `presume` presume `that` that the `the` church `church will` will `continuc` continue in `in operational` operational `service.` service. * `*` the `the financial` financial statements `statements are` are prepared `preparcd` as `as` required `required by` by `law` law to `to` give `give` a `a true` true and `and` fair `fair` view `view` of `of` the `the` state `state of` of[affairs] `affairs of`[of] the `the` church `church surplus` surplus or `or` deficit `deficit` for that `for that` period, `period,` and `and` safeguard `safeguard the` the assets `asscts` of `of`[the] `the`[church.] `church.` ## INDEPENDENT `INDEPENDENT` EXAMINERS: `EXAMINERS:` > `The` The `Trusteesappointed` Trustees appointed `Richlo` Richflo Accounting `Accounting Serviccs` Services `as` as `its` its independent `independent` examiners. `examincrs.` A `A` resolution `resolution for` for reappoint- `reappoint` > `ment` ment will `will be` be proposed `proposcd` during `during the` the `next` next `mecting.` meeting, > `This` This `report` report `was` was approved by `approved by the` the Trustees `Trustees` on `on` 12th `12th` February `February` 2025 `2025` and `and signed` signed on `on` their `their` behalf `behalf` by `by` trustee: `trustce:` Philip Adegbola `Name of Trustee:` Name of Trustee: 00.0... eee eee cece eueeverees `Signature:` Senne. GAS Page `Page` 3 `3` ## `RCCG - LOVE ASSEMBLY` £@=my _RCCG- LOVE ASSEMBLY Ms,Met ie `INDEPENDENT` INDEPENDENT `EXAMINER'S` EXAMINER'S REPORT `REPORT FOR THE YEAR` FOR THE YEAR `ENDED` ENDED `31ST` 31ST MAY `MAY` 2024 `2024` I `I` have `have examined` examined `the` the draft `draft Unaudited` Unaudited Management `Management Accounts,` Accounts, which `which` comprises `comprises` the `the` financial `financial activities,` activities, incomes `incomes and` and expenditures `expenditures with` with `Balance` Balance Sheet `Sheet` and `and` the `the` related `related Notes` Notes on `on` pages `pages` 6 `6` to `to` 8 `8` and `and` the `the` accounting `accounting` policies `policies` of `of` the `the` RCCG `RCCG LOVE` LOVE ASSEMBLY, `ASSEMBLY,` Liverpool `Liverpool` for `for the` the `year` year ended `ended 31st` 31st May `May` 2024. `2024.` > `This` This `report` report is `is` made `made solely` solely to `to` the `the` Charity,s `Charity,s Tustees` Trustees `are` are responsible `responsible` for `for` the `the` preparation `preparation of` of the `the` accounts. `accounts.` The `The` > `Trustees` Trustees consider `consider audit` audit is `is not` not required `required for` for `this` this `year` year `under` under `section` section `160(1)` 160(1) of `of` the `the Charities` Charities `Act` Act 2011 `2011and` and `that` that an `an` independent `independent examination` examination is `is needed.` needed. Respective `Respective responsibilities` responsibilities of `of` Trustees `Trustees and` and Independent `Independent Examiner:` Examiner: As `As` described `described on` on `page` page `4,` 4, `the` the `Trustees are` Trustees are responsible `responsible` for `for the` the preparation `preparation of` of financial `financial statements.` statements. It `It` is `is my` my resp- `resp onsibility` onsibility `to carryout` to carry out an `an` independent `independent` examination `examination` of `of those` those financial `financial statements` statements `and` and to `to` issue `issue a` a report `report` based `based` on `on` that `that` examination. `examination.` ## Scope `Scope` Of `Of` examiner's `examiner's` Statement: `Statement:` I `I` conducted `conducted` my `my` examination `examination in` in line `line` with `with directions` directions given `given by` by the `the` Charity `Charity` Commission `Commission` under `under` section `section` 145(5) `145(5)of` of `the` the `Charities` Charities `Act` Act 2011. `2011.` An `An` examination `examination includes` includes review `review` of `of` accounting `accounting records` records kept `kept` by `by the` the charity `charity and` and `comparison` comparison `of` of the `the` financial `financial` statements `statements with` with `those` those records `records` as `as` well `well` as `as` explanations `explanations from` from the `the` trustees `trustees concerning` concerning `the` the `records.` records. `The` The `procedures` procedures undertaken `undertaken do` do `not` not provide `provide` all `all` the `the` evidence `evidence` that `that would` would `be` be required `required in` in an `an` audit. `audit.` Consequently `Consequently` no `no` audit `audit opinion` opinion is `is` given `given` and `and the` the report `report is` is `limited` limited `to` to `the` the `statements` statements `below:` below: ## `Independent` Independent `examiners` examiners statement: `statement:` We, `We,` as `as` independent `independent` examiner have `examiner have` the `the requisite` requisite `ability` ability and `and` practical `practical` experience `experience to` to `carry` carry out `out` a `acompetent` competent `examination` examination of the `theaccounts` accounts in `in accordance` accordance `with` with section `section 145(1)(a)` 145(1)(a) of `ofthe` the `Charities` Charities Act `Act 2011.` 2011. In `In connection` connection `with` with `our` our examination, `examination, no` no matter `matter has` has `come` come `to` to `my` my attention: `attention:` - `i.` i. `Which` Which `gives` gives `me` me `reasonable cause` reasonable cause `to` to `believe` believe `in` in any `any material` material `respect` respect `the` the requirements: `requirements:` * `*` to `to` keep `keep accounting` accounting records `records` in `in accordance` accordance `with` with section `section` 130(1) `130(1) of the` of the `Charities` Charities Act `Act` 2011, `2011,` and `and *` * to `to prepare` prepare `financial` financial `statementswhich` statements which comply `comply` with `with the accounting requirements` the accounting requirements of `of` section `section 132(1) of` 132(1) of the `the Charities` Charities Act `Act` 2011, `2011,` have `have` not `not` been `been met;` met; or `or` - ii. `ii.` To `To which` which `in` in our `our` opinion, `opinion,` attention `attention` should `should` be `be` drawn `drawn in` in order `order to` to enable `enable` a `a` proper `proper understanding of` understanding of the `the` financial `financial` statements `statements to` to have `have` been `been prepared` prepared Signed: `Signed:` and `and` dated `dated 12th` 12th February `February 2025.` 2025, > `Richflo Accounting` Richflo Accounting `Services` Services > `4` 4 Deeroak `Deeroak` Close `Close Manchester` Manchester `M18` M18 `8AF` 8AF Page `Page[4]` 4 ## RCCG `RCCG` - `-` LOVE `LOVE` ASSEMBLY `ASSEMBLY` ## `BALANCE` BALANCE `SHEET` SHEET FOR `FOR` THE `THEYEAR` YEAR `ENDED` ENDED 31ST `31ST` MAY `MAY 2024` 2024 |||||2024
2024||2023
2023| |---|---|---|---|---|---|---| |FIXED ASSETS
FIXED ASSETS||Notes
Notes||£||£| |Tangible Assets
Tangible Assets||2
2||392,008
392,008||53.451
53.451| |CURRENT
ASSETS
CURRENTASSETS||||||| |Prepayments
Prepayments||3
3|0||9.086
9,086|| |Cash/Bank
Cash/Bank|||54,821
54,821||223,685
223,685|| ||||54,821
54,821||232.77
232,771|| |CREDITORS: AmountDucWithin
1 Ycar
NET CURRENT ASSETS/(LIABILITIES)
CREDITORS: Amount Due Within 1 Year
NETCURRENTASSETS((LIABILITIES)||4
4|(500)
(500)|54,321
54,321|(500)
(500)|232.271
232,27)| |CREDITORS: AmountDuc Aflcr
1Ycar
TOTAL NET ASSETS/(LIABILITIES)
CREDITORS: Amount Due Afier 1 Year
TOTALNETASSETS((LIABILITIES)||5||(121,472)
324,857
(121,472)
324,857||(28,054)
257,668
(28,054)
257,668| |CHARITY FUNDS
CHARITY FUNDS||||||| |General Reserves for the Ycar
General Reserves for the Year||6
6||324,857
324,857||257,668
257,668| |||||324,857
324,857||257,668
257,668| ## `FIXED` FIXED ASSETS `ASSETS Tangible` Tangible Assets `Assets` > `The` The trustees `trustees` were `were` satisfied `satisfied that` that `the` the `charity` charity is `is entitled` entitled `to` to exemption `exemption` from `from` audit `audit under` under section `section 160(1)` 160(1) of `of` the `the` > `Charities` Charities `Act` Act 2011 `2011` for `for` the `the` accounting `accounting period ended` period ended `3Ist` 31st May `May 2024.` 2024. > `The` The trustees `trustees` acknowledge `acknowledge` their `their responsibilities` responsibilities `for:` for: > `(i)` (i) ensuring `ensuring that` that `the` the `charitable` charitable company `company keeps` keeps `accounting records which` accounting records which `comply` comply `with` with sections `sections` 130 `130` of `of` the `the` > `Charities` Charities Act `Act` 2011; `2011;` and `and` > `(ii)` (ii) preparing `preparing financial` financial `statementswhich` statements which give `give` a `a true` true and `and` fair `fair` view `view` of `of` the `the state` state of `of` affairs `affairs of` of the `the` charitable `charitable as` as at `at` the `the end` end of `of` the `the`[period] `period`[in] `in accordance`[accordance][with] `with section`[section][132(1)] `132(1)`[of] `of the`[the][Charities] `Charities`[Act] `Act`[2011.] `2011.` > `Approved` Approved `by` by the `the` Trustees `Trustees on` on `12th` 12th February `February` 2025 `2025 and` and signed `signed on` on their `their behalf by` behalf by `the` the `trustees:` trustees: Philip Adegbola Name `Name` of `of Trustee` Trustee: `:` 00... ccc cece eevee `Signature:.` sare RAE > `Page` Page `5` 5 `RCCG - LOVE ASSEMBLY` “E3* -RCCG - LOVE ASSEMBLY `NOTES` NOTES TO THE `TO THE FINANCIAL` FINANCIAL STATEMENTS `STATEMENTS` FOR `FOR THE` THE YEAR `YEAR ENDED` ENDED 31ST `31ST MAY` MAY `2024` 2024 1. `1.` ACCOUNTING `ACCOUNTING POLICIEs` POLICIES `The` The financial `financial` statements `statements have` have been `becn` prepared `prepared` in `in` accordance `accordance with` with applicable `applicable Accounting` Accounting Standards `Standards` in `in` United `United Kingdom` Kingdom `with` with the `the` application `application of` of `FRSSE` FRSSE and `and Statement` Statement of `of` Recommended `Recommended` Practice `Practice Accounting` Accounting and `and` Reporting `Reporting by` by `Charities` Charities `(SORP` (SORP `2000` 2000 & `& 2005)` 2005) issued `issucd` by `by` the `the` Charity `Charity Commission.` Commission. `Asummary` Asummaryof `of` the `the` principal `principal accounting` accounting `policics,` policies, which `which have` have been `becn` applied `applicd consistently` consistently is `is set` set out `out` below: `below:` ## `(a) Basis` (a) Basis of `of Preparation` Preparation `of` of Financial `Financial` Stetements; `Stetements;` > `The` The `financial` financial statements `statcments are` are `prcparcd` prepared `under` under the `the` historic `historic cost` cost convention `convention` and `and` include `include` the `the result` result of `of` charity's `charity's` > `opcration,` operation, `which` which are `are` described `described in` in `the` the `Trustec's` Trustee's Report, `Report,` all `all` of `of which` which are `are` continuing. `continuing.` ## `(b)` (b) Incoming `Incoming Resources:` Resources: All `Allincomcs` incomes `is` is credited `credited to` to the `the Statement` Statement of `of` Financial `Financial` Activities `Activitics on` on the `the` earlier `carlier date` date of `of` when `when` they `they are` are received `received` or `or` when `when` they `thcy` are `arc` receivable. `receivable.` ## `(c) Restricted Funds:` (c) Restricted Funds: `Building` Building `Funds` Funds > `Restrictcd` Restricted funds `funds` are `are to` to be `be used` used for `for` specific `specific` purposes `purposes` within `within` the `the objects` objects `of` of `the` the charity. `charity.` Expenditures `Expenditures which` which > `meet` meet `these` these `specific` specific `criteria,` criteria, will `will be` be matched `matched with` with a `a fair` fair `allocation` allocation of `of` management `management and` and support `support` costs. `costs. There` There > `is` is restricted `restricted Building` Building `Fund` Fund `amount` amount of `of £56,998` £56,998 `during` during the `the` year. `year.` ## (d) Unrestricted `Unrestricted` Funds: `Funds:` ## `(d) Unrestricted Funds:` Unrestricted `Unrestricted funds` funds `are` are donations, `donations, offerings` offerings `and` and `other` other `incomes` incomes generated `generated` for `for` the `the` objects `objects of` ofthe `the`[charity] `charity without` without further `further` specific `spccific purposes` purposes `and` and are `are` available `available for` for general `general` and `and` public `public funds.` funds. ## (e) `(e)` Resources `Resources` Expended: `Expended:` Direct `Direct` Charitable `Charitable` expenditure `expenditure includes` includes `all` all `expenditure` expenditure incurred `incurred by` by `the` the charity `charity in` in direct `direct pursuit` pursuit `of` of its `its` charitable `charitable objectives.` objectives. Governance `Governance` expenditure `expenditure includes` includes `all` all `costs` costs incurred `incurred which` which `relates` relates to `to` the `the` charitable `charitable` and `and` for `for` administaration `administaration of the` ofthe[charity] `charity`[in] `in compliance`[compliance][with] `with`[constitutional] `constitutional`[and] `and`[statutory] `statutory requirements.`[requirements.] ## Tangible `Tangible Fixed` Fixed `Assets` Assets `and` and Depreciation: `Depreciation:` Tangible `Tangible` fixed `fixed assets` assets `are` are `stated` stated `at` at cost `cost` less `less depreciation.` depreciation. `Depreciation` Depreciation is `is provided` provided `at` at `rates` rates `in` in order `order` to `to write` write `off` off the `the` cost `cost` of `of each` each `assets,` assets, `less` less `their` their estimated `estimaled` residual `residual value over` value over its `its` estimated `estimated useful` useful `life` life as `as` follows: `follows:` Furniture `Furniture and` and `Fittings` Fittings `25%` 25% at `at reducing balance` reducing balance `Office Equipment` Office Equipment & `&[ Van]` Van `25%` 25% at `at reducing balance` reducing balance `Motor` Motor `[Vehicles]` Vehicles `20%` 20% at `at reducing` reducing balance `balance` > `Page` Page `6` 6 ## `RCCG - LOVE ASSEMBLY` RCCG- LOVE ASSEMBLY |RCCG -LOVE ASSEMBLY
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RCCG- LOVE ASSEMBLYLOVE ASSEMBLY||||||| |---|---|---|---|---|---|---|---|---|---| |NOTES TO THE FINANCIAL STATEMENTS
NOTES TO THE FINANCIAL STATEMENTS|||||||||| |FOR THE YEAR ENDED 31STMAY 2024
FOR THE YEAR ENDED 31ST MAY 2024|||||||||| |2
2||TANGIBLE FIXED ASSETS:
TANGIBLE FIXED ASSETS:|||||||| ||||Land &
Land&|Furniture
Furniture||Office
Office|Motor
Motor|2024
2024|2023
2023| |||COST/VALUATION:
COST /VALUATION:|Building
Building|Fittings
Fittings||Equipment
Equipment|Vehicles
Vehicles|TOTAL
TOTAL|TOTAL
TOTAL| ||||£
£||£|£|£|£|£| |||Opening
Balance
Opening Balance|0||16,824
16,824|39,670
39,670|42.304
42.304|98,798
98,798|77,038
77.038| |||Additions
Additions|350,000
350,000||0
0|0|0|350,000
350,000|46,664
46,664| |||Disposals
Disposals|(0)
(0)||(0)
(0)|(0)
(0)|(0)
(0)|(0)
(0)|(24,904)
(24,904)| |||Closing Balance
Closing Balance|350,000
350,000||16,824
16,824|39,670
39,670|42,304
42,304|448,798
448,798|98,798
98,798| |||Depreciation
Depreciation|||||||| |||Opening
Balance
Opening Balance|0||14,623
14,623|26,808
26,808|3,916
3,916|45,347
45,347|59,132
59,132| |||Charge
for the period
Charge for the period|0
0||550
550|3,216
3,216|7,678
7,678|11,443
11,443|8,937
8,937| |||Disposals
Disposals|(0)
(0)||(0)
(0)|(0)
(0)|(0)
(0)|(0)
(0)|(22,722)
(22,722)| |||Closing Balance
Closing Balance|0
0||15,173
15,173|30,024
30,024|11,594
11,594|56,790
56,790|45,347
45,347| |||Net BookValue
Net Book Value|||||||| |||Opening
Balance
Opening Balance|0
0||2,201
2,201|12,862
12,862|38,388
38,388|53,451
53,451|17,906
17,906| |||Closing Balance
Closing Balance|350,000
350,000||1,651
1,651|9,647
9,647|30,710
30,710|392,008
392,008|53,451
53,451| |3
3:||PREPAYMENTS:
PREPAYMENTS:|||||||| |||Prepayments
Prepayments||||||0|9,086
9,086| |||||||||0|9,086
9.086| |4|4|CREDITORS:Amount Due Within
1Year
CREDITORS: Amount Due Within 1 Year|||||||| |||Accountant Fees
Accountant Fees||||||500
500|500
500| |||||||||500
500|500
500| |5
5||CREDITORS:Amount Dueafter 1 Year
CREDITORS: Amount Due after 1 Year|||||||| |||Current Accounts
Current Accounts||||||99,539
99,539|0| |||Purchase Costs (Financed)
Purchase Costs (Financed)||||||28,054
28,054|42,304
42,304| |||Accumulated
Repayments
Accumulated Repayments||||||(0)
(0)|(11,190)
(11,190)| |||Current Repayments
Current Repayments||||||(6,121)
121,472
(6,121)
121,472|(3,060)
28,054
(3,060)
28,054| |6
6||Balance Carried
Forward
Balance Carried Forward|||||||| |||MOVEMENT IN STATEMENT
OF FUNDS
MOVEMENT IN STATEMENT OF FUNDS|||||||| |||Net Funds Brought Forward
Net Funds Brought Forward||||||257,668
257,668|202,910
202,910| |||Funds Generated
Funds Generated|||7
7|||67,189
67,189|54,758
54,758| |||Net Funds Carried Forward
Net Funds Carried Forward||||||324,857
324,857|257,668
257,668| > `Page` Page 7 `[7]` ## `RCCG - LOVE ASSEMBLY` “Gs RCCG - LOVE ASSEMBLY `STATEMENT` STATEMENT OF `OF` FINANCIAL `FINANCIAL` ACTIVITIES `ACTIVITIES` FOR `FOR` THE `THE` YEAR `YEAR ENDED` ENDED 31ST `31ST MAY` MAY 2024 `2024` |STATEMENT OF FINANCIAL ACTIVITIES
STATEMENT OF FINANCIAL ACTIVITIES|STATEMENT OF FINANCIAL ACTIVITIES
STATEMENT OF FINANCIAL ACTIVITIES|ACTIVITIES||||||| |---|---|---|---|---|---|---|---|---| |FOR THE YEAR ENDED 31STMAY 2024
FORTHE YEAR ENDED 31ST MAY 2024|||||||2024
2024|2023
2023| |||||Unrestricted
Unrestricted||Restricted
—_Restricted|TOTAL
TOTAL|TOTAL
TOTAL| ||||||Funds
Funds|building Funds
building Funds|Funds
Funds|Funds
Funds| |7.FUNDS
7.|FUNDS GENERATED:
FUNDS GENERATED:|Notes
Notes|||£|£|£|£| ||Incoming Resources
Incoming Resources||8
8||159,319
159,319|56,998
56,998|216,317
216,317|185,772
185,772| ||Fund Transferredto Rescrvc
Fund Transferred to Reserve||||(0)
(0)|(24,550)
(24,550)|(24,550)
(24,550)|(24,000)
(24,000)| ||Resource Expended
Resource Expended||9||(124,578)
(124,578)|(0)
(0)|(124,578)
(124,578)|(107,014)
(107,014)| ||||||34,741
34,741|32,448
32,448|67,189
67,189|54,758
54,758| |8.INCOMING
8.|INCOMING RESOURCES:
INCOMING RESOURCES:|||||||| ||Tithes and Offerings
Tithes and Offerings||||129,686
129,686|0|129,686
129,686|107,249
107,249| ||Donations&Thanksgivings
Donations& Thanksgivings||||7,494
7,494|51,396
51,396|58,890
58,890|53,761
53,761| ||Grant -Kickstart
Scheme
Grant - Kickstart Scheme||||0|0
0|0
0|4.341
4,341| ||Grant -WORLD EVANGELICAL MISsIONS
Grant
-WORLD EVANGELICAL MISSIONS||||150
150|0|150
150|0| ||Grant -Outreach Shebox
Appeal
Grant - Outreach Shebox Appeal||||1,885
1,885|0
0|1,885
1,885|0| ||Gift Aid
Gift Aid||||20,104
20,104|0|20,104
20,104|15,313
15,313| ||Bank
Interest
Income
Bank Interest Income||||0|1,602
1,602|1,602
1,602|1,230
1,230| ||Rent Income
Rent Income||||0|4,000
4,000|4,000
4,000|0| ||Gain on Asset Partly
Exchanged
Gain on Asset Partly Exchanged||||0|0
0|0
0|3,878
3,878| ||||||159,319
159,319|56,998
56,998|216.317
216,317|185,772
185,772| |9.
9.|RESOURCES EXPENDED:
RESOURCES EXPENDED:|||||||| ||CharitableActivities
Charitable Activities||10
10||70,558
70,558|0
0|70,558
70,558|54,538
54,538| ||Governance
Costs
Governance Costs||11
11||54,020
54,020|0
0|54,020
54,020|52,476
52,476| ||||||124,578
124,578|0
0|124,578
(124,578|107,014
~~—«2107,014| |10 Charitable
Activities
10 Charitable Activities||||||||| ||Rent & Rates
Rent& Rates||||36,246
36,246|0|36,246
36,246|20,935
20,935| ||Conferences, Seminars
Conferences, Seminars||||8,086
8,086|0|8,086
8,086|6,900
6,900| ||Donations&Welfare
Donations & Welfare||||2,448
2,448|0|2,448
2,448|3,838
3,838| ||Utilitics,
Phonc & Internct
Bills
Utilities, Phone& Internet Bills||||1,003
1,003|0|1,003
1,003|5,731
5,731| ||WORLD EVANGELICAL MISSIONS
WORLD EVANGELICAL MISSIONS||||20,960
20,960|0|20,960
20,960|12,859
12,859| ||ShocboxAppeal
Shoebox Appeal||||1,815
1,815|0|1,815
1,815|4,275
4,275| ||||||70,558
70,558|0|70,558
70,558|54,538
54,538| |11 Governance
Costs
11
Governance Costs||||||||| ||Transport,Vehicle& Hire Expenses
Transport, Vehicle& Hire Expenses||||9,251
9,251|0|9,251.
9,251.|12,126
12,126| ||Repair and
Maintenance
Repairand Maintenance||||9,095
9,095|0
0|9,095
9,095|2,297
2,297| ||Printing,
Stationery,
Postages&Books
Printing, Stationery, Postages& Books||||220
220|0|220
220|1,118
1,118| ||Accountancy & Payroll
Fees
Accountancy & Payroll Fees||||S00
500|0
0|500
500|576
576| ||Depreciationof Assets
Depreciation of Assets||||11,443
11,443|0
0|l1,443
11,443|7,082
7,082| ||SubscriptionFees
Subscription Fees||||2,062
2,062|0
0|2,062
2,062|2,063
2,063| ||Professional/Administration
Fees
Professional/Administration Fees||||S,752
$752|0
0|5,752
$,752|6,280
6,280| ||Insurance&Licences
Insurance& Licences||||0|7,293
7,293|7,293
7,293|s,323
5,323| ||BankCharges
Bank Charges||||293
293|0|293
293|274
274| ||Staff
Salaries &Allowances
StaffSalaries & Allowances||||14,769
14,769|0|14,769
14,769|15,337
15:337| ||Car Finance Interest
Car Finance Interest||||635
635|0
0|635
635|0
0| ||Property Costs|||||238,069|238,069|0| ||||||54,020
54,020|245,362
245,362|299,382
299,382|52,476
52,476| |||||Page &
Page 8|||OS||