Riverside Church Annual Report & Financial Statements For year ended December 2020 Registered charity no. 1131872 Company no. 6983393 This report covers the period l October 2019 to 30 December 2020 RIVERSIDE vineyard church Riverside Vineyard Church, Thanet Way, Whitstable, Kent CT5 3JQ www.riversideuk.ofg Afflliated to vineyardchurches The,VINEy￿(PN￿¢￿E$ L¢lloJndMNEYAPD vAth"gw'de¥ts LtyO'ar• bothrtyth•*tr* mBth5 oIVlrey7rt ￿1￿ ￿ are¢￿j 51lev￿rd ChLYthIs a (hurth Introduction Riverside is a vibrant and growing church community of adults, children and young people meeting in Whitstable, Kent. Our goal is to see the transformation of our communitie5 through the goodness of Jesus. We believe the goodness of Jesus is for everyone and we're passionate about helping people encounter Hi5 life-changing power. The church was established in 1925 and has been faithfully worshipping God and serving the local community for more than 90 years. Our broad aims continue to be the following.. Our aim is to be a blessing to our community through sharing the love and compassion of God to those we meet. Creating spaces and opportunities for people to encounter the good news of Jesus and His transforming presence. Having our own building allows us to hire rooms to commercial and public-sector organisations during the week. This conference activity generates an income stream that supports our charitable activitie5. Equipping and supporting people to do life well, () Bringing practical and spiritual relief to the vulnerable and those in need. We also have an on-site café which forms a community space right at the heart of the butlding. To do things well. It provides a relaxed, friendly environment where everyone is welcome old friends can come together, and new friendships can be made. Review This report covers two very different seasons in the li*e of Riverside Church. We have learnt new skills and taken advantage of new opportunities to continue to grow our vision to be.good for everyone". The first period, from the beginning of October 2019 through to the middle of March 2020. the church was operating as normal and was continuing to develop and serve people through its varioLJS ministries. We turned our auditorium into a food distribution centre for our Pantry Project which grew exponentially during this period. Through the generosity of the church and community partners, we were able to support hundreds of local families with food and essential household items. Our vision for this season was to 'multiplv'. We were planning to launch our 'Herne Bay Hub. in Briary Primary School in May 2020 to provide an additional location for young familie5 to connect with Riverside. The staff team had to become proficient in filming and video editing technique5, producing high quality service content for our YouTube channel. Then in mid-march 2020 COVID struck and everythlng changed. During this period, we said goodbye to dea rly loved members of the Riverside family. Pauline Etheridge-Flynn and Harry Jelfs passed away durin8 this time. We were able to celebrate their incredible lives and be present to comfort their familie5. Our gathered environments could no longer happen, our onsite cafe had to close and our room hire and conferencing activities completely Stopped. The pandemic tested Riverside's ability to maintain relational connections and continue to serve our community. This continues to be a very challenging time for the church. but despite the adversity, we believe our reputation as a valued part of the community has grown tremendously as we have demonstrated our faith, in love and action. Even against these huge challenge5 we are pleased to report that the church has not just survived but in many ways flourished. Ye8h. Hi loves us Oh. ttow ltr¥&s vs Objective I: Advance the Gospel Creating Spaces and opportunities for people to encounter the good new5 of Jesus and His tronsforming presence. We have continued to run Alpha course5 during this period, providing a welcoming environment for people to explore the Christian faith. During the COVID lock-down, our courses moved online, using the Zoom platform. This helped people to stav connected and complete the course. We have been deepening our expression of prayer within half-night5 of prayer and other prayer gatherings. We continue to pray for more opportunities to serve our community. We've continued to support the Canterbury Christian Schools Work Trust ICCSWTI which brings an SMSC framework into local primary and secondary schools. During the pandemic CCSWT wa5 able to continue to provide online content and support to local schools. In the autumn of 2019 we hosted Student Lunches for the first time a5 a church and we saw a number of students connect with us from the University of Kent. Qur services moved online from mid-march Using the Online Church platform and YouTube. This has enabled many people to remain connected with the good news of the gospel and also created a space for conversation and catchup. We also provided 'Dial a Sermon, telephor)e service for those who struggled with online content. 2019 concluded with one of our largest carol services, with nearly 300 people hearing the good news of the Christmas story. We have continued to support the Churches Together in Whitstable, hosting a joint service at Riverside. This gave an opportunity for people from different churches to gather and celebrate our joint projects (Street Pastors, CAP Debt Centre and Haven) and pray for the future of ourtown. This period concluded with an onsite carol service when restrictions were briefly lifted. We were also able to give Christmas gift bags to everyone in our church family either at the carol service or through volunteers delivering them to people's doors. Objective 2: Improve Life Equipping and supporting people to do life well. Each Sunday we run a morning service with teaching and worship in an informal and relaxed atmosphere. We provide practical, biblical teaching usinE a variety of gifted speakers. Our children and youth have age- related teaching in their groups and also meet in their programmes during the week. Our monthly Lego Club continued to grow providing a stimulating play environment for children and their carers, with a future plan to move the club to Briary Primary School when P055ible, We launched our Riverside 360 Discipleship Year, offering a unique opportunity to experience a church ministry and community connection. Unfortunately due to the pandemic we have had no uptake on this course yet. During the COVID pandemic our services moved online to provide a consistent weekly point of connection for the church. Small groups continued to meet over Zoom. Up until March 2020, our Cherish women's events continued to create an opportunity to gather and inspire women with different activities and social events. We also host many other friendship, interest and support groups such as Stitch & Chat, Alzheimerfs, Carers, and Parkinson's support. A bereavement friendship group also continues to run. Men's events have also taken place to encourage men to gather and support one another. To show support and appreciation to our local community providers duringthe pandemic we delivered 'treat boxes, to sixteen local schools and three medical centres. These were very gratefully received by the teaching and medical staff. We hosted another Classics Quiz night to provide 3 fun, social environment for the older generation. Objective 3: Bring Relief 8rin9ing practicol and spiritual relief to the vulnerable ond those in need. Our biggest compassion ministry during this period has been Pantry Project. We were developing this area at the end of 2019, but COVID meant the needs of the community quickly became acute, This year we had a visit from Kevin Crook from Mission Aviation Fellowship IMAFI who f5y charlty relief organi5ations all over the world. We support the work of MAF with regular financial contributions. We responded by turning our auditorium into a food distribution hub, working with local community partners to provide high-quality food and essential items to those in need. Working with social workers and school family liaison officers we helped to feed hundreds of families and individuals. We also gave out sixty Christmas hampers to the neediest families in the area. Pantry Project was featured on BBC Southeast when the reporter, lan Palmer, came to interview the volunteer team. Our ongoing f inancial and volunteer support for local compassion projects includes., Street Pastor5 a c3ring night-time presence on the streets of Whitstable and Herne Bay. Christians Against Poverty debt centre providing debt counselling service and advice f ree of charge. Haven - a project providing care and support for the homele55 and vulnerable in the area. We also continue wlth prison ministry, supporting a member of Riverside who is serving a custodial sentence and we partner with the Grass Roots Trust who work in Romania. Growbaby, which provides 8ood quality, new and second-hand, baby clothes and equipment free of charge, also helped those impacted by the pandemic. During this time we created an additional sorting and storage area to provide space for the growing project. Our Riverside Cafe also operates a "Pay It Forward" scheme where anyone can donate an extra meal or drink for someone in need. Doing Things Well A key goal at Riverside is to do things well. This involves everything. fromthe way we relate to people. to the way we manage our facility and develop the organisation, On-site Partners.. Caldecott Fostering consolidated their operations during the pandemic and moved off site in the autumn of 2020. We really enjoyed having them onsite and wish them well for the future. Staffing.. During this period we said goodbye tojohn Sales, our event caretaker. whose role was made redundant due to the affects of the COVID pandemic on our conferencing and room hire busine55. CXK use Riverside as a local hub for their staff as they provide career guidance and training programmes to help young people build the skills and confidence they need to f ind a job. Site: We continue to develop the Riverside site. During this time, a media suite was created to enable video and sound production. Our auditorium staging wa5 also refitted with new lighting, acoustic panelling and a drum booth. Our Phase 3 design continues to be developed with our consultants Martello. Canterbury Foodbank continue to operate their warehouse from Riverside and have overseen a huge amount of food distribution to the needy during this period. With their lease due to expire in September 2020, the Senior Leadership Team offered them a year extension which they gratefully accepted. Volunteers: We actively encourage people to volunteer their time and get invofved, serving in some capacity. Riverside could not operate at the level we do without their generosity and dedication particularly through this difficult period. Events: Our conferencing busines5 continued to grow prior to COVID and we expect our regular clients to return whenever things return to normal. Iiiil. Connected Charities & Partner Projects Riverstde continues to be an active supporter of Churches To8ether in Whitstable {￿lw). Haven isa joint church initiative to creale a warm friendly place for the homeless in the area. Based èt St John's Methodlst Hall It provides hot drinks, snacks, laundry and shower latilities. Cfiw provide Street Pastors who patrol ￿ery Friday night providin8 a p￿T0￿4 caring and reassuring presente on the Streets. CXK is a tharity which supports children, voung people, adults and families and is one of our rental partners at Riverside. CXK Canterbury Foodbank provides crisis food parcels for those in need in the are3. Riverside provide a lar8e space on our site to house the Foodbank warehouse. Cald•cott Foot•ri Caldetott Fostering committed to thild centred praetice and per50nalised packages of care ènd support to Foster Carers. They are è rental partner based at Riverside. Riverside supports the work of Mission Aviation Fellowship which enèbles over 2,￿0 aid, developrnent and mission organisations to brihg medical care. emergency relief. long-term development and Christian hope to thousands of cornmynities. CTIW jointly support a ltscal Christians Against Poverty IC4PI centre. CAP provides free debt coun5elling and ad(Jitional life skills serytces. FellotyY&h debt hdp Caniwbvry Christian Canterbury Christian Schools, Work Trust works with primary and secondary schools with the SMSC Iramewtsrk. Clokj Riverside 5UPPOrts the work of Open Doors which Is an international ministry serving persecuted Christians ènd churches worldwide. hools Wtsvk OpenDoors grassi c)()t: Alleviating poverty, partnering with thurthes, spon50ring Children, chan8ing l*ves. FOND COFFEE served at Riverside is proud to support Rebijild Women'5 HOPÈ Congo. It was established in 2013 by gender equiry pioneer Marceline Budza. with the aim empowerin8 Congolese women. &JMLICOFFI I Providing help and support for the voluntary and cotnrnunity sector in Kent. Z=BRA COMMIINIIY >QIiIIION5 Carers, Support Riverside provides a space for this charity to support carers across East Kent. Charity bank has helped in the financing and development of thÈ Riverside site and continues to be a a bankfr)r8md valued partner. bank Strategic Report Business Review Riverside Church is in a stable position both financially and in terms of attendance. We airn to review on a regular basis the main risks the church faces. The Trustees consider the key risks to a church like ours to be finances, safeguarding, health and safety and human resources. We employ staff with key skills in these areas. We also engage third party experts for advice when needed, Our total source of income from all sources was £535,571. Our expenditure totalled £576,270. Our room hiring and cafe income generated income of £122.334 We believe that our internal financial controls conform to the guidelines issued by the Charity Commission. Our financial statements at the rear of this report provide more information. Investment Powers and Policy Risk Management Our Articles authorise us to invest our funds. Cash balances are currently held with HSBC Bank and Charity Bank. We operate a policy of keeping available funds withln interest- bearing deposit accounts. We maintain a level of free reserves to mitigate against the risk that the charity experiences an unexpected event which would put us in financial diff iculty. We have systems of internal control which are designed to provide reasonable, but not absolute against material assurance misstatement or loss. They include.. • an annual budget approved by the Trustees. regular consideration by the Trustees of financial reports. This might include an event which would bring Riverside Church into disrepute. the premises being forced to close for a lon£ period of tirne; or a serious decline in the economic environment we operate in. We believe the appropriate level of unrestricted reserves should be based upon a proportion of our regular costs as follows.. delegation of authority and segregation of duties. identification and management of risks. io Plans for the future Four months of our long-term commitments, such as mortgage and utilities payments and the cost of running our Sunday services which would be a vital activity to maintain. Three months of medium-term commitments such as permanent staff costs and the monthly financial support we provide to partner charitie5. One month of short-term costs, including the day to day ministry activity of the church. At this point it is hard to discern what the 'new normal, will look like but we are confident in thestrength ofthechurch communityand the quality of the people who continue to serve the vision of Riverside. We will continue to build upon the solid foundations we've established and as the church continues to grow, we are looking for new and contemporary ways of engaging with and meeting the needs of those who join us. As we emerge from COVID into the next season we want to build on our new community connections and pursue ourvision of being "good for everyone" Our review has estimated this target level is £80,000. The reserves held as of 31 December 2020 are at this level. We review. on a 6-monthly ba51S, the level of reserves held. During the year, the Trustees carried out a full review of the reserves policy to ensure it remained up to date and relevant. Going Concern and COVID 19 The financial statements have been prepared on a going concern basis. While the impact of the COVID-19 virus has been assessed by the Trustees, 50 far as reasonably possible, due to the unprecedented impact on the wider economy. it is difficult to evaluate with certainty the potential outcomes on the charity's income, its beneficiaries and suppliers. However, taking into consideration the UK Government'5 response and the charity's planning together with the charity's level of reseNes, the Trustees have concluded that the reserves and future incoming resources a re sufficient to enable the charity to continue its operations for the foreseeable future. 12 Information about Riverside Church Associated Professionals We believe that we comply with the Charity Comrnission guidance on public benefit and specifically the advancement of religion. Principal Bankers.. HSBC 8ank 9 Rose Lane Canterbury Kent CTI 2JP Charity Number: 1131872 Company Number.. 6983393 Registered Office.. Accountants: Riverside Church Thanet Way Whitstable CT5 3JQ Kreston Reeves LLP Chartered Accountants 37 St. Margaret's Street Canterbury Kent CTI 2TU Website.. www.riversideuk.org Governing Document & Organisational Structure: Solicitors: We are a registered charity, constituted by means of our Memorandum and Article5 of Association and operatingas a church. We are also a company limited by guarantee, in which the company directors form the board of Trustees. The liability of each trustee in the event of winding up is limited to £10. The spiritual vision and direction of the church is set by the Senior Leadership Team who along with the Trustees form the membership of the company. Parry Law Sols 12-14 Oxford Street Whitstable CT5 IDE 13 Information (continued) Trustees and Senior Staff Trust Board ITB) Senior Leadership Team (SLTI The Trustees who have served during the year are as follows: The day to day running of the church is delegated to the employed pastoral staff and operational staff. The staff are led by Simon & Keely Bateson (Lead Pastors) and their Senior Leadership Team which is as follows:_ Kirsteen Magee Chair Simon Bateson Lead Pastor Matt Haines Facilities Simon Bateson Lead Pastor Darlene Bushell Finance Keely Bateson Martin Franks Lead Pastor Paul Newman VCUKI liaison Assistant Pastor Sean Carter Health & Safety Jacob Perrins Assistant Pastor Debbie Franks SLT The company secretary is Kim Wood. Emma Perrins SLT Appointment of Trustees & SLT Alan Chalkley Alison Chalklev SLT SLT New Trustees and SLT members are appointed when appropriate. Suitable candidates are generally selected from within the church and are considered based on their skills. experience and sympathy with the aims of the church. Trustees and SLT members are appointed by the combined Trustees and Senior Leadership Team. These two teams constitute the membership of the charitable company. New Trustee5 have the opportunity reviewing appropriate documents, including the management accounts. as part of their induction process. Christine Gibson SLT Jackie Carter SLT Sean Carter SLT&TB 14 Information (continued) Trustees, / Directors, Responsibilities Statement The Trustees Iwho are also directors of Riverside ChLtrch for the purposes of company lawl 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 Accounting Practice). Prepare the financial statements on the going concern basis unless inappropriate to presume that the charitable company will continue in operation. The Trustees are responsible for keeping adequate acco¢Jnting records that are sufficient to show and explain the charitable companws transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for takinE reasonable steps for the prevention and detection of f raud and other irregularities. Company law requires the Trustees to prepare financial statements for each financial year. Under company law, the Trustees must not approve the financial statement5 unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resou rces, including the income and expenditure, of the charitable company for that period. In preparing these financlal ststements, the Trustees are required to.. In preparing this report, the Trustees have taken advantage of the small companies. exemptions provided by section 415A of the Companies Act 2006. Select suitable accountin8 policies and then apply them consi5tently,' Observe the methods and principles in the Charities SORP; Make judgments and accounting estimates that are reasonable and prudent,. State whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements,. This report was approved by the Trustees on and signed on their behalf by Simon Bateson Trustee / Director 15 **Riverside Church** ## **(A company limited by guarantee)** ## **Independent examiner's report** **for the period ended 31 December 2020** ## **Independent examiner's report to the Trustees of Riverside Church ('the charitable company')** I report to the charity Trustees on my examination of the accounts of the charitable company for the period ended 31 December 2020. ## **Responsibilities and basis of report** As the Trustees of the charitable company (and 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 charitable company 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 the charitable company's accounts 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** Since the charitable company's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: 1. accounting records were not kept in respect of the charitable company as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the accounting requirements of 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 4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (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. This report is made solely to the charitable company's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the charitable company's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charitable company and the charitable company's Trustees as a body, for my work or for this report. Signed: Dated: 26 July 2021 Page 16 R6versld& Church IA company limited by guarant•¢) Statement of financial actlvitigs lincorporatlng Incomè and expendtture a¢¢ount} for the period ondgd 31 December 2020 Unrestrlct•d RestTiCted Total Total funds fund5 funds funds 15 months 15 months 15 months 12 months end¢d ended nded ended 31 December 31 December 31 De¢gmber 30 September 2020 2020 2020 2019 Note Income from: Donations and lega¢ies'. Weekly offering Donations eligible for gift aKI Gift aid Gifts & miscellaneous income Deemed notion Interest on loans Olhei donations and legacies Othei tradin9 activities Investments 79,059 167,886 52,075 13,309 2,429 20.763 72,314 54.142 7,369 8,080 86,428 175,966 52.075 25,180 2,429 67,037 72,314 54,142 30.045 123,369 34,295 33.273 2.567 11,871 46,274 108,689 69,250 Total income Expenditure on: Raisin9 funds Charitable aclivilies 461.977 73.594 535,571 401,488 22,S27 51S,574 22.527 553.743 33,893 418,912 38,169 Total expènditure 538.101 38,169 576,270 452,805 Net {0x￿ndIturevln¢orne Tran$fers between fund 176.124) 26.317 35,425 126.3171 140.6991 {51,3171 Net movement in funds Reconciliation of funds.. Ttrlal funds brought forward Nel movement in funds {49,807) 9.108 140.6991 (51,3171 1,290,960 149,8071 2,496 9,108 1,293,456 140,6991 1,344,773 151,31n Total funds ¢arrled forward 1,241,153 11,604 1,252.757 1,293.456 The Statement of financial activitie5 includes all gains and losses rectsanised in the period. The notes on pages 19 to 35 form part of these financial statements. Page 17 Rlyerslde Church IA company Ilmited by guarant•e) Règistered number: 06983393 8alance sheèt as at 31 D?cgmber 2020 31 December 2020 30 September 2019 Note Fixed ass•ts Tangible assets 1.514,995 1,573.710 1.514.995 1,573,710 Current assets Debtors 12 12,145 408,963 Cash at bank and in hand 374,817 380,860 421.108 Creditots." amounts falling due within one year 135,7971 137.4551 Not current assets 345,063 383,653 Totsl assets less curront liabilitiès 1.860,058 1.957,363 Credrtors. amounts falling due after more than one year 14 1607,3001 1863,907} Tolal net assets 1,252,7S8 1,293,456 Charity fund$ Reslricled funds Unrestri¢led funds 15 15 11,604 1,241,154 2,496 1,290,960 Total funds 1,252,758 1,293,456 The ¢hafilable company wa$ 8ntrtled lo exemption from audit under section 477 of the Companies Act 2006. The members have not required the company to obtain an audrt for the period in question in accordance with section 476 of Companies A¢t 2006. The Trustees acknowledge Iheif responsibilities for complying with the requirements of the Act w￿h ￿SpeCt to accounting re¢ords and preparation of financial slalemenls. The financial slalements have been prepared in accordance with the provisions applicable lo entitles subject to the small companies regime. The fina ments were approved and aulhorised for issue by the Trustees and signed on their beham by.. n Bate$on Truslee l Direelor Date. ZL. 07.11 The notes on pages 19 10 35 form part of these financial slalements. Page18 Riv•rslde Church (A company limited by guarantee) Notes to the financial statwionts for the period onded 31 Decèmber 2020 General information Riverside Church is a charty (company number.. 69833931, limited by guarantee, incorporated in England and Wales. The Charity's iegislered office is Riverside Church, Thanel Way, Whtslable, CT5 3JQ. The financial year end of the Charty was changed from 30 September lo 31 December. A¢¢ordingly, Ihe ¢omparalive figures in the Statement ol financial ac11vilie$ and the related notes are for 12 months from 1 October 2018 to 30 September 2019. Ac¢ounting policies 2.1 Basi5 of preparltion ol financial $lal•m¢nts The financial slalemenls have beet) prepared in accordance wlh the Chaiitie5 SORP IFRS 1021 Accounting and Reporting by Charrties.. Statement of Recommended Practice applicable to chaTilies preparing their x¢ounls in accordance with the Financial Reporting Standard applicable In the UK and RepubliG of Ireland IFRS 1021 (effective 1 January 2Q191, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies ￿1 2006. RNers¥Je Church meets the defi'nition of a public benefit enlty under FRS 102. Assets and liabilities are Initial￿ recognised at historical cost or transaction value unless otherwise slated in the relevant accountin9 policy. The charitable company'5 financial statements are presented lo the nearest Pound. 2.2 Company status The charrtable company is a company lirniled by guaranleo. The members of the company are the Trustees and the senior lewjership team named on pa9e 12. In th8 8vènt of the charitable company being wound up, the liabilty in respeel of the guarantee is limf(ed lo £10 per member of Ihe ¢haritable ompany. 2.3 Going concern The financFal statements have been prepared on a 90ing concern basis. While the irnpacl il the COVID-19 VITUS has been assessed by the Tiuslees, 50 far as reasonably possible, du8 to the unprecedented impact on the wider economy, (t is difficult to evaluate with certainly Ihe potential outcomes on the chartys income, its benefi¢iaries and suppliers. However, taking into Consideration the UK Governmant's response and the charity's planning together with the charitls level of reserves, the Trustees have concluded that the reserves and future incoming resources are sufficient lo enable the charity lo continue its operations for the foreseeable future. Page19 Riverslde Church IA company1Smlted by guarantee) Notes to the flnanclal statements for the period endèd 31 Decernber 2020 Accounting policies Icontinuedl 2.4 Income All Income is recognised once the charitable company has entitlement lo the income, it is probable that the income will be received and the amount ol income receivable can be measured reliabty. Grants are included in the Statement of financ￿1 activities on a receivable basis. The bala￿e of income received lor specrfic purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of enlillement of receipt, its recognition is deferred and incluéed in creditors as deferred income. Where entitlement occurs before income 1$ receivéd, Ihè incwe is accTued. Income lax recoverable in relation to investrnenl income is rttognised al the bme the investment income 15 receivabk. 2.5 Expenditure Expenditure is re¢ognised once there is a legal or constructive obligation to Iransler economic benefit lo a third party, il is prc*able that a transfer ol economic benefits wll be required in Settlement and the amount of the obligation call be measured reliabty. Costs of generating funds are Costs incurred in ottracling voluntary income. those incurred in trading activities that raise funds. Charitable aclivilies ale costs inCUr￿d on the chari18ble company's operat￿n$, includiry support costs gnd costs relating lo Ihe governance of the charitable company apportioned lo charitable activitios. Grants payable are charged in the period when the offer is made ex￿p1 in those cases whefe the offer is conditional. such grants being recognised as expenditure when the conditions attaching are fuKilled. Grants offered subject to conditions which have not been met at the period end are noted as a commitment, bul not accrued as expenditure. All expendrture is inclusive of irrecoverable VAT. 2.6 Government grants Government grants relating lo tangible fixed assets are Irealed as deferred inccThe and roleased lo the Slalemenl of financial activit￿$ over the expected useful lives ol the 8ssets concerned. Other grants ar& credrted to the Slalement of financial aclivrties as the related expenditure is incurred. 2.7 Tangibl* flxed assets and depreciation A revw for impairment ot a fixed asset is catried out if events or change5 in circumstances indicate that the Car￿ng value of ￿Y fixed asset may not be recoverable. Shortfalls belween the earrying value of fixed assets and IheiT recoverable 3moLTrnts are recognised as impairments. Impairment losses are recognised the Statement of financial activrtie8 incorporating income and expenditure account. Poge 20 Rivèrslde Church (A company llmilgd by guarantee} Notes to the financial statements for thg pgriod onded 31 December 2020 Ac¢ountlng policles l¢ontinued) 2.7 Tanglble flxed assets and depreciation Icontinuedl Tangible fixed assets are carried at CO81. nel of deprec4ali¢Jn and any provision for impairment. Depre¢ialion is not Charged on freehold land. Depre¢ialion is provided al rates calculated lo write off Ihe cost of fixed asset5, less their estimated residual value, over their expecled useful lives on the following bases.. Freehold propety Land . not depreciated. Building - over 20 years 5 years $lraighl lino 3 years straight line Not depreciated Fixtures and fittings Equipment Assets under eonslrLr¢lion 2.8 Inter95t re¢oivablg Interest on funds held on deposit 15 included when receivable and the amount can be measured reliably by the ¢h8rilable company,. this is normally upon notJfic8tion of the Interest paid or payable by the inslilulion with whom the funds are depo$f(ed. 2.9 Dobto Trade and other debtors are recognised al the settlement amount after any trade diswunt offered. Prepayments are valued at the amount prepaid nel Df any trade dI￿Ount5 due. 2.10Cash at bank and in hand Cash al bank and in hand includes cash and short-term highty liquid investments with a Short malurily of three months or less from the date of acquisition or opening of the deposrt or similar account, 2.11 Liabllitios and provlslons Liabilities are recognised when there is an obligation al the Balance sheet dale as a resuFt of a pa51 event. it is probable that a transfer of economic benèfit will be required in settlement. and the amount of the settlement can be estimated reliabty. Liabilities are recognised al the amount that the charitable company anli¢ipales Il will pay lo sertle the debt or the amount il has ro¢8ived as advanced payments for the goods or services rt musl PTovide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material. the provision is based on the present value of those amounts, discounted al the pre-tax discount rale that reflects the ri5k5 specific to the liabilrty. The unwinding of the discount Is Tecognised in the Slalemenl of financial activities as a finance eosl. 2.12 Flnanclal Instrufflents The chari(able company only has financial assets and financial liabib'ties of a kind that qualify as basic financial inslrumenls. Basic financial instruments are initially re¢ognised al transaction value and subsequently measured al their settlement value with the exception of bank loans which are subsequently measured al amortised cost using the effective interest method. Page 21 Rlverside Church (A company limited by guarantee) Notes to the financlal statements for th8 perlod ended 31 December 2020 Acco￿nting policies {conllnugdl 2.13 Taxation The ch8ri18ble company is considered lo pass the lesls sel out in Paragraph 1 Schedule 6 of the Finan¢e Act 2010 and Iherelore il meets the definition of a charitable company for UK Corporation Tax purp¢)ses. Accordingly, the Charitable company is potentially exempl from laxalion in respect of income or capital gains rèceived within the categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the ¢xtenl that such income or gains are applied exdusively to Charitable purposes. 2.14 Fund accounting General funds are unreslricled funds which are availab￿ for use al the discretion of the Tru51ees in fvrtherance of the general objectives of the charitable company and which have not been designatsd for other purposes. Designated fur￿5 comprise unrestricted funds that have been sel aside by Ihg Trustees for particular purposes. The aim and use of each designated fund Is set out in the notes to the financial stalemenls. Restricted funds are funds which are lo be used in accordance with specifr restrictions imposed by donors or wh￿h have been raised by the charitable company for particular purposes. The costs of raising and administering such funds are charged against the Specific fund. The aim and use of each restricted fund is set out in the notes lo the financial statements. 2.15 Ciltlcal accounting estimatos and areas of Sudgement Estimates and judgments are continually evaluated and are based on historical experience and other factors, Including expectations of future events that are believed to be reasonable under the circumstances. Tangible fixed assets The charity has recognised tangible fixed assets wlh a carrying value of £1.512,746 al the reporting dale (see note 111. These 8ssets are slated at their cost less provision for depreciation and impairment. The charity's accounting policy sets out the approach lo calculating depre¢ialion lor immaterial assets acquired. For material assets such as land and buildings the company determines at acquisthn reliable estimales for the useful life of the asset, ils residual value and decommissioning costs. These estimates are based upon such factors as the expected use of the acquired asset and ma¥kel condrtions. Al subsequent reporting dales the directors consider whether there are any factors such as technologic31 advancements or changes in market conditions that indi¢*e a need lo reconsider the estimates used. Where there are indicators that the Carrying value of tangible assets may be impaired the chafity undertakes tests lo determine the recoverable amounl of ass81s. These lesls require estimates of the fair value of assets less Cost to sell and of their value in use, Wherever possib￿ the estimate of the fair value of assets is based upon observable maiket prices less incremental cost for disposing of the asset. The value in use calculation is based upon a discounted cash flow model, based upon the charity's forecasts fjr the foreseeable future wh￿h (60 nol Include any reslrucluring activities that the charity is not yel committed to or S￿nIfIcant lulure investment$ thal will enhance the 8ssel'5 perfomance. The recoverable amount is most sensitive lo the discount rale used for the discounted cash flow model as well expected future cash flows and the growta rale used for extrapolation puiposes. Page 22 RiversSdo Church A company limited by guarantee) Note5 to the fSnancial Statements for thg perlod endèd 31 December 2020 Accounting polici￿ {continued) 2.16 Finance costs Bgrrowng costs a5SOCi3ted with direct expgndilure on prcpertie$ undergoing major refurbishment are capitalised. Interest is Caprta1￿ed as from the commencement of the developrnent work until the practical dale of completion. Income from donatlong and legacles Unrestrictod R￿tricted funds fund$ 15 months 15 months ended ended 31 31 December December 2020 2020 Total funds 15 months ended 31 December 2020 Total funds 12 months ended 30 September 2019 Donations Weekly Offering Donations eligible for grft aid Girt aid 76,060 167,886 50,055 5,670 2,429 7.639 8.080 2,020 19,421 83,699 175,966 52,075 25,091 2.429 30,045 123.369 34.295 33.273 2,567 Gifts & Miscellaneous Income Deemed notional inlérest on loans Total donations 302,100 37.160 339,260 223,549 Grants Government grants Subtotal 36,434 36,434 33.421 33,421 33,421 36,434 69,855 335,521 73.594 409,115 223,549 Total 2019 223,549 223,549 Govemm2nl yianls are in¢om& yeceived from the CoTonavwus Job Retention Scherne during the year. Page 23 Rivorsldo Church (A compary Ilmlted by guaranteel Notes to the financial statements for tho period ended 31 Dg¢ember 2020 Investmont income Unrestricted Total funds funds 15 months 15 month$ ended ended 31 31 December Dgc•mber 2020 2020 Total funds 12 months ended 30 September 2019 Use of building Investment income 50.747 3.395 50.747 3.395 68,087 1,163 54,142 54.142 69.250 Total 2019 69.250 69,250 Analysls of grants Grants to Institutions 15 months endt*d 31 December 2020 Grants to Individual$ 15 month$ ended 31 Dècember 2020 Totsl fund$ 15 month$ endèd 31 Dgcember 2020 Total funds 12 months ended 30 September 2019 Missionary support 24.610 2,554 27,164 35,177 Total 2019 34,576 601 35.177 Page 24 Rlverslde Church IA company limlted by guarantee) Notes to the financial statements for tho period endèd 31 DKember 2020 Dlre¢t Costs 15 months Year ended ended 31 30 December September 2020 2019 Youth activtties Equipment & maintenance Insurance l¢hurch) Outreach activities Utt￿tIeS Ichurchl Care costs Creative ministriès Staff traini￿ and other costs Wages and salaries 2,607 20,238 3,912 4.151 32.652 2,947 18N04 2.009 280,139 3.340 13,868 3.796 8,909 30,875 1,170 2.541 5,593 184,366 367,059 254,458 Support co$ls 15 months 12 months ended 31 ended 30 Decgmbef S¢plember 2020 2019 PhotocopwnglSlationerylPoslage Professional fees Catering Musielcopyright feèslEquipmenl Subsefiptions Miscellaneous costs Independent examinerfs fees Interest Oepreciatloft 1,308 6,039 1,113 1,S28 3,254 2,976 1.635 2.193 210 1.724 1.400 28,763 87,122 17,677 1.400 34,342 96,113 159,520 129.277 Page 25 Riverslde Church IA company Ilmited by gtsaranteel Notes to the financial 5tatement$ for the pgriod ended 31 Do¢ombÈr 2020 Net Incomollèxpgnditurel This is stated after charging.. 15 months ended 31 December 2020 12 months ended 30 September 2019 Depreciation of tangible fixed assets: - owne Anatysis of net assets between funds - PftOT period Unrestricted fund5 30 September 2019 Restricted funds 30 September 2019 Tctsl fund$ 30 September 2019 Tangible fixed assels Current a$sels Credjtors due wlhin one year Creditors due in more than one year 1,573.710 418,612 {37,4551 1663,907) 1,573,710 421,108 (37,4551 1663,9071 2,496 Total 1,290,960 2,496 1,293,456 18. Related party trnnsactlons On l March 2016, G Magee, the husband of K Magee, o Trustee of the Charity. gave the Ch8rrty and interest free loan amounting to £50.000 gf which £40,000 is still ouslanding al 31 December 2020. During the year, 7 12019. 71 charity trustees of gave donations to the Charrty totalling £40,691 12019.. £31,964>. L Bushell. the daughter of D Bushell, a Truslee of the Charity, was employed during the year. The total Ctjmpensalion she ￿CeNed wa$ £21,99312019'. £15,862) c¢)mmen$u¥ate to the role. K Haines, the wfe ol M Haines. a Trustee of the Charity, was employed by the Charity during the year. The total compensation she received was £2,71212019." £4,480) commensurate lo the role. Page 35