Charity number: 1135341
THE REDEEMED CHRISTIAN CHURCH OF GOD: LIFE START CONNECTIONS
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
THE REDEEMED CHRISTIAN CHURCH OF GOD: LIFE START CONNECTIONS
CONTENTS
| Page | |
|---|---|
| Reference and administrative details of the Charity, its Trustees and advisers | 1 |
| Trustees' report | 2 - 3 |
| Independent examiner's report | 4 |
| Statement of financial activities | 5 |
| Balance sheet | 6 |
| Notes to the financial statements | 7 - 18 |
THE REDEEMED CHRISTIAN CHURCH OF GOD: LIFE START CONNECTIONS
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2022
Trustees Dr Bayo Aderemi Odedoyin, Chairman Pastor David Idowu Mrs Mojirade Mulikat Alabi Mr Victor Oladele Charity registered number 1135341 Principal office St. Clement's Close (Off Coldhabour Road) Northfleet Kent DA11 7RU Accountants GIL Accountancy Services 177 Ballens Road Chatham Kent ME8 5PG Pastor-in-Charge Pastor David Idowu
Page 1
THE REDEEMED CHRISTIAN CHURCH OF GOD: LIFE START CONNECTIONS
TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2022
The Trustees present their annual report together with the financial statements of THE REDEEMED CHRISTIAN CHURCH OF GOD: LIFE START CONNECTIONS for the 1 January 2022 to 31 December 2022.
Objectives and activities
a. Policies and objectives
Our ultimate goal is to enable diverse people to make heaven by nurturing, empowering and equiping them to live a holy and well fulfilled life based on excellence and solid relationships. Our mandate is found in Isaiah 61:4 which says "And they shall build the old wastes, they shall raise up the former desolations, and they shall repair the waste cities, the desolations of many generations".
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
b. Activities undertaken to achieve objectives
The Church continues to engage members and community at large in its various programmes. The Trussell Trust Foodbank network activities increased with reach to many more families. Over the years the strength of the Church has been based on the sacrificial service of volunteers. This year is no exception. We whole-heartedly thank all our volunteers for their immesurable contribution during the year. God bless you all.
c. Financial review
Total receipts during the year was £326,136 (2021: £202,183). Total expenditure for the year was £262,358 (2021: £191,100). The detailed breakdown of the accounts can be found in the accompanying SOFA, balance sheet and notes.
d. Risks management
The Trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity, and are satisfied that systems and procedures are in place to mitigate our exposure to the major risks.
e. Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements.
f. Reserves policy
The Charity seeks to maintain reserves which match any obligation, such as to employees, and to ensure sustainability beyond the next quarter. The target is to build and maintain unrestricted reserves equating to three months normal expenditure.
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THE REDEEMED CHRISTIAN CHURCH OF GOD: LIFE START CONNECTIONS
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022
Structure, governance and management
a. Constitution
THE REDEEMED CHRISTIAN CHURCH OF GOD: LIFE START CONNECTIONS is a registered charity, number 1135341, and is constituted under a Trust deed.
b. Methods of appointment or election of Trustees
The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed. No new trustee was appointed during the year. The board of trustees set the direction and policy framework for the Church. The board also put in place the process for reviewing, evaluating and implementing appropriate risk management framework.
Funds held as custodian
During the year, the charity held endowment fund contributions from local area RCCG parishes with the aim of helping them save.
Statement of Trustees' responsibilities
The Trustees 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).
The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles of the Charities SORP (FRS 102);
-
make judgments and accounting estimates that are reasonable and prudent;
-
state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees and signed on their behalf by:
................................................ Dr Bayo Aderemi Odedoyin (Trustee) Date: 2 October 2023
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THE REDEEMED CHRISTIAN CHURCH OF GOD: LIFE START CONNECTIONS
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2022
Independent Examiner's Report to the Trustees of THE REDEEMED CHRISTIAN CHURCH OF GOD: LIFE START CONNECTIONS ('the Charity')
I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 December 2022.
Responsibilities and Basis of Report
As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
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 the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent Examiner's Statement
Since the Charity'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 (enter body here), which is one of the listed bodies.
Your attention is drawn to the fact that the Charity has prepared the accounts in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.
I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
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 that in any material respect:
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accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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.
Signed: D Tabiri
Dated: 2 October 2023
ACIE FCCA
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THE REDEEMED CHRISTIAN CHURCH OF GOD: LIFE START CONNECTIONS
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022
| Note Income from: Donations and legacies 3 Charitable activities 4 Total income Expenditure on: Charitable activities 5 Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Restricted funds 2022 £ 142,000 - 142,000 108,882 108,882 33,118 - 33,118 33,118 |
Unrestricted funds 2022 £ 132,500 51,636 184,136 153,476 153,476 30,660 116,184 30,660 146,844 |
Total funds 2022 £ 274,500 51,636 326,136 262,358 262,358 63,778 116,184 63,778 179,962 |
Total funds 2021 £ 135,153 67,030 |
|---|---|---|---|---|
| 202,183 | ||||
| 191,100 | ||||
| 191,100 | ||||
| 11,083 | ||||
| 105,101 11,083 |
||||
| 116,184 |
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 7 to 18 form part of these financial statements.
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THE REDEEMED CHRISTIAN CHURCH OF GOD: LIFE START CONNECTIONS
BALANCE SHEET AS AT 31 DECEMBER 2022
| Note Fixed assets Tangible assets 10 Current assets Stocks 11 Debtors 12 Cash at bank and in hand Creditors: amounts falling due within one year 13 Net current assets Total assets less current liabilities Net assets excluding pension asset Total net assets Charity funds Restricted funds 15 Unrestricted funds 15 Total funds |
2,145 5,000 168,765 175,910 (23,425) |
2022 £ 27,477 27,477 152,485 179,962 179,962 179,962 33,118 146,844 179,962 |
10,563 13,990 96,309 120,862 (6,936) |
2021 £ 2,258 |
|---|---|---|---|---|
| 2,258 113,926 |
||||
| 116,184 | ||||
| 116,184 | ||||
| 116,184 | ||||
| - 116,184 |
||||
| 116,184 |
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
................................................ Dr Bayo Aderemi Odedoyin (Trustee)
Date: 2 October 2023
The notes on pages 7 to 18 form part of these financial statements.
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THE REDEEMED CHRISTIAN CHURCH OF GOD: LIFE START CONNECTIONS
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
1. General information
THE REDEEMED CHRISTIAN CHURCH OF GOD: LIFE START CONNECTIONS is a registered charity, number 1135341, and is constituted under a Trust deed.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
THE REDEEMED CHRISTIAN CHURCH OF GOD: LIFE START CONNECTIONS meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
2.2 Income
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
2.3 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
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THE REDEEMED CHRISTIAN CHURCH OF GOD: LIFE START CONNECTIONS
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
2. Accounting policies (continued)
2.3 Expenditure (continued)
All expenditure is inclusive of irrecoverable VAT.
2.4 Tangible fixed assets and depreciation
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, .
Depreciation is provided on the following bases:
| Short-term leasehold property | - 10% Straight line |
|---|---|
| Fixtures and fittings | - 20% straight line |
| Church & Office equipment | - 20% reducing balance |
2.5 Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.
2.6 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
2.7 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
2.8 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
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 at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.
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THE REDEEMED CHRISTIAN CHURCH OF GOD: LIFE START CONNECTIONS
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
2. Accounting policies (continued)
2.9 Financial instruments
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
2.10 Pensions
The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year.
2.11 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity 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 to the financial statements.
3. Income from donations
| Donations - Tithes, offerings, thanksgiving etc Grants Total 2022 Donations - Tithes, offerings, thanksgiving etc Grants Total 2021 |
Restricted funds 2022 Unrestricted funds 2022 £ £ - 132,500 142,000 - 142,000 132,500 Restricted funds 2021 Unrestricted funds 2021 £ £ - 104,926 30,227 - 30,227 104,926 |
Total funds 2022 £ 132,500 142,000 |
|---|---|---|
| 274,500 | ||
| Total funds 2021 £ 104,926 30,227 |
||
| 135,153 |
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THE REDEEMED CHRISTIAN CHURCH OF GOD: LIFE START CONNECTIONS
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
4. Income from other charitable activities
| Unrestricted funds 2022 £ Gift aid receipts 14,190 Donations - Gravesham Foodbank 37,446 Total 2022 51,636 Unrestricted funds 2021 £ Gift aid receipts 13,990 Donations - Gravesham Foodbank 53,040 Total 2021 67,030 |
Total funds 2022 £ 14,190 37,446 |
|---|---|
| 51,636 | |
| Total funds 2021 £ 13,990 53,040 |
|
| 67,030 |
5. Analysis of expenditure on charitable activities
Summary by fund type
| Church activities Gravesham Foodbank |
Restricted funds 2022 Unrestricted funds 2022 £ £ (8,557) 134,897 117,439 18,579 108,882 153,476 |
Total 2022 £ 126,340 136,018 |
|---|---|---|
| 262,358 |
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THE REDEEMED CHRISTIAN CHURCH OF GOD: LIFE START CONNECTIONS
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
5. Analysis of expenditure on charitable activities (continued)
Summary by fund type (continued)
| Church activities Gravesham Foodbank |
Restricted funds 2021 £ - 40,641 40,641 |
Unrestricted funds 2021 £ 121,225 29,234 150,459 |
Total 2021 £ 121,225 69,875 |
|---|---|---|---|
| 191,100 |
6. Analysis of expenditure by activities
| Church activities Gravesham Foodbank Total 2022 |
Activities undertaken directly 2022 £ 126,211 136,018 262,229 |
Support costs 2022 £ 129 - 129 |
Total funds 2022 £ 126,340 136,018 |
|---|---|---|---|
| 262,358 |
| Church activities Gravesham Foodbank Total 2021 |
Activities undertaken directly 2021 £ 121,225 69,875 191,100 |
Total funds 2021 £ 121,225 69,875 |
|---|---|---|
| 191,100 |
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THE REDEEMED CHRISTIAN CHURCH OF GOD: LIFE START CONNECTIONS
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
6. Analysis of expenditure by activities (continued)
Analysis of direct costs
| Staff costs, NI Pension etc Rent & rates Office admin. expenses Honorarium Light & heat Insurance Telephone and internet costs Computer and IT expenses Stationery, printing and postage Hospitality & welfare Travelling expenses Legal & professional fees Accountancy fees Depreciation WEM & Central office charges Youth & children's ministry Sundry expenses Foodbank miscellaneous expenses Motor expenses Music & Ministry expenses Bank charges Charitable donations Conferences & special programmes Total 2022 |
Church activities 2022 £ 46,226 20,000 7,625 7,600 4,020 3,291 1,108 801 842 2,821 7,902 950 1,219 2,519 4,160 805 607 - 7,933 16,603 534 2,613 430 126,211 |
Gravesham Foodbank 2022 £ 105,562 8,289 - - - - - - - - - 3,905 400 240 - - - 2,519 - - 705 - - 136,018 |
Total funds 2022 £ 151,788 28,289 7,625 7,600 4,020 3,291 1,108 801 842 2,821 7,902 4,855 1,619 2,759 4,160 805 607 2,519 7,933 16,603 1,239 2,613 430 |
|---|---|---|---|
| 262,229 |
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THE REDEEMED CHRISTIAN CHURCH OF GOD: LIFE START CONNECTIONS
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
6. Analysis of expenditure by activities (continued)
Analysis of direct costs (continued)
| Staff costs, NI Pension etc Rent & rates Office admin. expenses Honorarium Light & heat Repairs & renewals Insurance Telephone and internet costs Computer and IT expenses Stationery, printing and postage Hospitality & welfare Travelling expenses Legal & professional fees Accountancy fees Depreciation WEM & Central office charges Youth & children's ministry Sundry expenses Motor expenses Music & Ministry expenses Bank charges Charitable donations Conferences & special programmes Total 2021 Analysis of support costs Traning |
Church activities 2021 £ 18,000 20,000 3,755 1,500 3,267 3,250 2,122 716 672 107 2,967 3,567 28,567 1,061 567 3,360 288 2,349 9,226 14,712 492 220 460 121,225 |
Gravesham Foodbank 2021 £ 59,096 9,298 - - - - - - - - - - - 420 240 - - 272 - - 549 - - 69,875 Total funds 2022 £ 129 |
Total funds 2021 £ 77,096 29,298 3,755 1,500 3,267 3,250 2,122 716 672 107 2,967 3,567 28,567 1,481 807 3,360 288 2,621 9,226 14,712 1,041 220 460 |
|---|---|---|---|
| 191,100 | |||
| Total funds 2021 £ - |
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THE REDEEMED CHRISTIAN CHURCH OF GOD: LIFE START CONNECTIONS
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
7. Independent examiner's remuneration
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Fees payable to the Charity's independent examiner for the independent | ||
| examination of the Charity's annual accounts | 800 | 800 |
| Fees payable to the Charity's independent examiner in respect of: | ||
| All other services not included above | 819 | 481 |
8. Staff costs
| Wages and salaries Social security costs Contribution to defined contribution pension schemes |
2022 £ 145,012 4,255 2,521 151,788 |
2021 £ 74,468 - 2,628 |
|---|---|---|
| 77,096 |
The average number of persons employed by the Charity during the year was as follows:
| 2022 | 2021 | |
|---|---|---|
| No. | No. | |
| Staff | 3 | 2 |
The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:
| 2022 | 2021 | ||
|---|---|---|---|
| No. | No. | ||
| In the band £60,001 | - £70,000 | 1 | - |
9. Trustees' remuneration and expenses
During the year, one or more Trustees has been paid remuneration of £67,113 (2021: £58,649) or has received other benefits from an employment with the Charity.
During the year ended 31 December 2022, no Trustee expenses have been incurred (2021 - £NIL) .
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THE REDEEMED CHRISTIAN CHURCH OF GOD: LIFE START CONNECTIONS
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
10. Tangible fixed assets
| Cost or valuation At 1 January 2022 Additions At 31 December 2022 Depreciation At 1 January 2022 Charge for the year At 31 December 2022 Net book value At 31 December 2022 At 31 December 2021 11. Stocks Food stocks 12. Debtors Due within one year Other debtors Prepayments and accrued income - Gift aid |
Short-term leasehold property £ - 25,186 25,186 - 2,519 2,519 22,667 - |
Fixtures and fittings £ 796 - 796 240 240 480 316 556 |
Computer equipment £ 22,724 2,792 25,516 21,022 - 21,022 4,494 1,702 2022 £ 2,145 2022 £ 5,000 - 5,000 |
Total £ 23,520 27,978 |
|---|---|---|---|---|
| 51,498 | ||||
| 21,262 2,759 |
||||
| 24,021 | ||||
| 27,477 | ||||
| 2,258 | ||||
| 2021 £ 10,563 2021 £ - 13,990 13,990 |
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THE REDEEMED CHRISTIAN CHURCH OF GOD: LIFE START CONNECTIONS
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
13. Creditors: Amounts falling due within one year
| Other taxation and social security Pension fund loan payable Other creditors Accruals and deferred income |
2022 £ 5,434 691 16,500 800 23,425 |
2021 £ - 266 870 5,800 |
|---|---|---|
| 6,936 |
14. Financial instruments
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Financial assets | ||
| Financial assets measured at fair value through income and expenditure | 168,765 | 96,309 |
Financial assets measured at fair value through income and expenditure comprise cash at bank and trade debtors.
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THE REDEEMED CHRISTIAN CHURCH OF GOD: LIFE START CONNECTIONS
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
15. Statement of funds
Statement of funds - current year
| Unrestricted funds General Funds 1 Restricted funds Restricted Funds - all funds Total of funds Statement of funds - prior year Unrestricted funds General Funds 1 Restricted funds Restricted Funds - all funds Total of funds |
Balance at 1 January 2022 £ 116,184 - 116,184 Balance at 1 January 2021 £ 85,149 19,952 105,101 |
Income £ 184,136 142,000 326,136 Income £ 171,956 30,227 202,183 |
Expenditure £ (153,476) (108,882) (262,358) Expenditure £ (140,921) (50,179) (191,100) |
Balance at 31 December 2022 £ 146,844 |
|---|---|---|---|---|
| 33,118 | ||||
| 179,962 | ||||
| Balance at 31 December 2021 £ 116,184 |
||||
| - | ||||
| 116,184 |
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THE REDEEMED CHRISTIAN CHURCH OF GOD: LIFE START CONNECTIONS
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
16. Analysis of net assets between funds
Analysis of net assets between funds - current year
| Tangible fixed assets Current assets Creditors due within one year Total |
Restricted funds 2022 Unrestricted funds 2022 £ £ - 27,477 33,118 142,792 - (23,425) 33,118 146,844 |
Total funds 2022 £ 27,477 175,910 (23,425) 179,962 |
|---|---|---|
Analysis of net assets between funds - prior year
| Tangible fixed assets Current assets Creditors due within one year Total |
Unrestricted funds 2021 £ 2,258 120,862 (6,936) 116,184 |
Total funds 2021 £ 2,258 120,862 (6,936) 116,184 |
|---|---|---|
17. Pension commitments
The charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charity in an independently administered fund. The pension cost charge represents contributions payable by the group to the fund and amounted to £2,521 (2021 - £2,628). £691 (2021 - £266) were payable to the fund at the balance sheet date and are included in creditors.
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