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2020-12-31-accounts

REDEEMED CHRISTIAN CHURCH OF GOD ROSE OF SHARON

Charity No. 1131865

Trustee's Report and

Unaudited Accounts 31

December 2020

REDEEMED CHRISTIAN CHURCH OF GOD ROSE OF SHARON C

Pages
Trustee's Annual Report 1
Independent Examiner's Report 2
Statement of Financial Activities 3
Balance Sheet 4
Statement of Cash flows 5
Notes to the Accounts 6
Detailed Statement of Financial Activities 7 to
-

Page

The Trustee presents his report with the unaudited financial statements of the charity for the year ended 31 December 2020.

REFERENCE AND ADMINISTRATIVE DETAILS

Charity No. 1131865 Principal Office

55 WARLEY

MOUNT

WARLEY

BRENTWOOD

CM14 5EP

Trustee

The following Trustee served during the year:

Tina Coker

Rev Betrice Appiah Simeon Ademolake

Accountants

VG & CO St lukes Business Suite 85 Tarling Road London E16 1HN

The trustees present their report and the accounts for the year ended 31 December,2020.

PRINCIPAL ACTIVITIES AND REVIEW OF BUSINESS

Redeemed Christian Church Of GOD Rose of Sharon is a charitable organization established for the purpose of advancing the Christian Religion, relief poverty, sickness and distress as a result of war, famine and any other natural or manmade distress within the United Kingdom and other part of the world.

Furthermore, to provide moral support, education and counseling to multicultural communities in UK in particular inner London.

During the period under review charitable, educational and pastoral support care was provided for the people in need and the demand for the services and support continue to grow due to the growth in public awareness in Christian Faith religion.

ACCOUNTANTS

VG & CO (Accountants and Management Consultants)Limited were appointed as the Ministry accountants and they have indicated their willingness to continue in office.

The trustees approved their willingness after taking advantage of special exemptions available to small charity organization.

Sign on behalf of the trustees

Page

T Coker Page

REDEEMED CHRISTIAN CHURCH OF GOD ROSE OF SHARON I d d E i R Independent Examiner's Report to the trustee of REDEEMED CHRISTIAN CHURCH OF GOD ROSE OF SHARON

I report to the trustees on my examination of the accounts of REDEEMED CHRISTIAN CHURCH OF GOD ROSE OF SHARON for the year ended 31 December 2020 which comprise the Statement of Financial Activities, the Balance Sheet and the related notes.

Responsibilities and basis of report

As the charity's trustee you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011('the Act'). The trustee considers that an audit is not required for this year under the Charities Act 2011, s.144(2) (the 2011 Act) and that an independent examination is needed.

I report in respect of my examination of the charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 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 in, any material respect:

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.

VG & CO(Accountants and Management Consultants)Limited St lukes

Business suite 85 Tarling Road London E16 1HN

Sam K Dompreh(MAAT) 31 December 2020

Page

REDEEMED CHRISTIAN CHURCH OF GOD ROSE OF SHARON S f Fi i l A i i i for the year ended 31 December 2020

Not
es
Income and endowments
from:
Donations and legacies
3
Other
4
Total
Expenditure on:
Other
5
Total
Net gains on investments
Net income
6
Transfers between funds
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		 Unrestric
te
d funds
2020
£
25,805
3,990		 Total
funds
2020
£
25,805
3,990		 Total
funds
2019
£
15,958
3,626
29,795
15,339		 29,795
15,339		 19,584
7,813
15,339
-		 15,339
-		 7,813
-
14,456
-		 14,456
-		 11,771
-
14,456 14,456 11,771
14,456
15,208		 14,456
15,208		 11,771
3,437

Page

REDEEMED CHRISTIAN CHURCH OF GOD ROSE OF SHARON B l Sh at 31 December 2020

Charity No. 1131865
Fixed assets
Tangible assets
8
Current assets
Cash at bank and in hand
Creditors:Amount falling due within one year
9
Net current assets
Total assets less current liabilities
Net assets excluding pension asset or liability
Total net assets
The funds of the charity
Restricted funds
1
0
Unrestricted funds
General funds
1
0
Reserves
1
0
Total funds
Approved by the trustees on 31 December 2020
And signed on their behalf by:		 2020
£
1,717
1,717
28,447
28,447
(500)
27,947
29,664
29,664
29,66
4
29,664
29,664
29,66
4		 2019
£
2,146		 2019
£
2,146		 2019
£
2,146
2,146
13,412
13,412
(350)
13,062
15,208
15,208
15,20
8
15,208
15,208
15,20
8

T Coker Trust ee 31 December 2020

Page

REDEEMED CHRISTIAN CHURCH OF GOD ROSE OF SHARON N h A for the year ended 31 December 2020

policies Basis

of preparation

The financial statements have been prepared in accordance with Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic if Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.

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 fundsThese 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 Income is included in the Statement of Financial Activities (SoFA) of income when the charity becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability. Income with Where income has related expenditure the income and related related expenditure is reported gross in the SoFA. expenditure Donations Voluntary income received by way of grants, donations and gifts and is included in the the SoFA when receivable and only when the legacies Charity has unconditional entitlement to the income. Income from tax reclaims is included in the SoFA at the Tax reclaims same time as the gift/donation to which it relates. on donations These are only included in income (with an equivalent amount and gifts in expenditure) where the benefit to the Charity is reasonably Donated quantifiable, measurable and material. services and facilities 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.

Page 7

REDEEMED CHRISTIAN CHURCH OF GOD ROSE OF SHARON

N Gains/(losses) h A This includes any gain or loss resulting from revaluing on revaluation investments to market value at the end of the year. of fixed assets Gains/(losses) This includes any gain or loss on the sale of investments. on investment assets

This includes any gain or loss on the sale of investments.

Expenditu

re

Expenditure is recognised on an accruals basis. Expenditure Recognition includes any VAT which cannot be fully recovered, and is reported of as part of the expenditure to which it relates. expenditur These comprise the costs associated with attracting voluntary e income, fundraising trading costs and investment management costs.

Expenditure on These comprise the costs incurred by the Charity in the delivery of raising funds its activities and services in the furtherance of its objects, Expenditure on including the making of grants and governance costs. charitable activities 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 tax on its charitable activities.

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.

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.

Page 8

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.

2
Statement of Financial Activities - prior year
Income and endowments from:
Donations and legacies
Other
Total
Expenditure on:
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
3
Income from donations and legacies
Unrestric
ted
£
25,805
25,805
4
Other income
Unrestric
ted
£
3,990
3,990		 Unrestric
ted
funds
2019
£
15,958
3,626
19,584
7,813
7,813
11,771
11,771
11,771
3,437
15,20
8
Total
2020
£
25,805
25,805
Total
2020
£
3,990
3,990		 Total
funds
2019
£
15,95
8
3,626
19,58
4
7,813
7,813
11,77
1
11,77
1
11,77
1
3,437

15,20
8
Total
2019
£
15,95
8
15,95
8
Total
2019
£
3,626
3,626

5 Other expenditure

Employee costs
Premises costs
Amortisation,
depreciation,
impairment,
proft/loss on
disposal of fxed assets
General administrative costs
Legal and professional costs
6
Net income before transfers
This is stated after
charging: Depreciation of
owned fxed assets
7
Staf costs
Salaries and wages
No employee received emoluments in excess of
£60,000.
8
Tangible fxed assets
Cost or revaluation
At 1 January 2020
At 31 December
2020
Depreciation
and
impairment
At 1 January 2020
Depreciation charge
for the year
At 31 December 2020
Net book values
At 31 December 2020
9
At 31 December 2019
Creditors:
amounts falling due within one year		 Unrestric
ted
£
11,465
2,215
429
730
500
15,339
2020
£
429
11,465
11,46
5		 Total
2020
£
11,465
2,215
429
730
500
15,339
£
13,908
13,90
8
11,76
2
429
12,19
1
1,71
7
2,14
6		 Total
2020
£
11,465
2,215
429
730
500
15,339
£
13,908
13,90
8
11,76
2
429
12,19
1
1,71
7
2,14
6		 Total
2019
£
3,404
1,593
516
1,950
350
7,813
2019
£
516
3,404
3,40
4
£
13,90
8
13,90
8
11,76
2
429

12,19
1

1,71
7

2,14
6

2020 £

2019 £

Accruals and deferred income 500 350
50
0		 35
0
10 Movement in
funds
Incomi
ng
resour		 Resour At 31
Decemb
ces ces er
At 1
January		 (includ
ing		 expend
ed		 2020
2020 oth
er
gains/los
ses
)
Restricted £ £ £
funds:
Unrestricted
funds:
General funds 15,208 29,795 (15,339) 29,664
Revaluation Reserves:
Total funds 15,20
8		 29,79
5		 (15,339)
29,66
4
11 Analysis of net assets between funds
Unrestricted Restricted
funds
funds		 Total
£ £ £
Fixed assets 1,717 - 1,717
Net current assets 6,650 21,297 27,94
7
12 Reconciliation of 8,36
7		 21,29
7		 29,66
4
net debt At 31
At 1 January Decemb
2020 Cash er
fows 2020
£ £ £
Cash and cash equivalents 13,412 15,035 28,447
13,412 15,035 28,447
Net debt 13,41
2		 15,03
5		 28,44
7

REDEEMED CHRISTIAN CHURCH OF GOD ROSE OF SHARON S f C h fl for the year ended 31 December 2020

Cash fows from operating activities
Net income 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 provided by operating activities
Cash fows from investing activities
Dividends, interest and rents from investments
Net cash from investing activities
Net cash from fnancing activities
Net 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		 2020
£
14,456
429
(3,990)
150
11,045
3,990
3,990
-
15,035
13,412
28,447
28,447
28,447		 2019
£
11,771
536
(3,626)
(1,577)
7,104
3,626
3,626
-
10,730
2,682
13,412
13,412
13,412

Page

REDEEMED CHRISTIAN CHURCH OF GOD ROSE OF SHARON D il d S f Fi i l A i i i for the year ended 31 December 2020

Income and endowments from:
Donations and legacies
Other
Total income and endowments
Expenditure on:
Employee
costs
Salaries/wa
ges
Premises costs
Rent
General administrative
costs, including
depreciation and
amortisation
Depreciation of
Subscriptions
Sundry expenses
Legal and professional
costs Audit/Independent
examination
fees
Total of expenditure of other costs
Total expenditure
Net gains on investments
Net income
Net income before other
gains/(losses)
Other Gains
Net movement in funds
Reconciliation of funds:		 Unrestric
ted
funds
2020
£
25,805
25,805
3,990
3,990
29,795
11,465
11,465
2,215
2,215
429
730
-
1,159
500
500
15,339
15,339
-
14,456
14,456
-
14,456		 Total
funds
2020
£
25,805
25,805
3,990
3,990
29,795
11,465
11,465
2,215
2,215
429
730
-
1,159
500
500
15,339
15,339
-
14,456
14,456
-
14,456		 Total
funds
2019
£
15,958
15,958
3,626
3,626
19,584
3,404
3,404
1,593
1,593
516
600
1,350
2,466
350
350
7,813
7,813
-
11,771
11,771
-
11,771

Page

Total funds brought forward
Total funds carried forward		 15,208
15,208
3,437
29,66
4
29,66
4
15,20
8