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← The Redeemed Christian Church Of God (Rccg) Life Start Connections

2023-12-31-accounts

Charity number: 1135341

THE REDEEMED CHRISTIAN CHURCH OF GOD: LIFE START CONNECTIONS

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

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 - 5
Independent examiner's report 6
Statement of financial activities 7
Balance sheet 8
Notes to the financial statements 9 - 20

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 2023

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 2023

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 2023 to 31 December 2023.

Objectives and activities

a. Policies and objectives

The Charity’s main objectives are:

These objectives are charitable and operate for the public’s benefit. The charity pursues these objectives via its mission statement by nurturing diverse people to make Heaven through empowering and equipping them to live a holy and well fulfilled life based on excellence and solid relationships.

The Charity pursues its objects by the operation of its worship centre for Christian worship at St Clements Close, Northfleet, Kent, and by a programme of events aimed at reaching out to the unchurched. It also embarks on wide range charitable events aimed at engaging with hard-to-reach groups and to the disadvantaged in the community.

The charity's main objectives for the year were:

• Working with its plant church in Maidstone (RCCG Sure Foundation Assembly) to spread the Christian message of hope within their communities and communicating through community initiatives to reach the unreached.

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)'.

Page 2

THE REDEEMED CHRISTIAN CHURCH OF GOD: LIFE START CONNECTIONS

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

Objectives and activities (continued)

b. Activities undertaken to achieve objectives

• LSC Multi-Cultural Sunday 2023 – This was one of our annual flagship events to celebrate and honour different cultures and nationalities in the world. Prayers were rendered on behalf of all the nations for the love of Christ, peace, and good governance to reign all over the world. The major highlight of the day is the Fun Fair outside the church building with Bouncing Castle, Games and Barbeque

• Children’s Week - An annual event dedicated to showcase the spiritual growth of children in our community. We had a massive turn out of children from the community this year. The major highlight of the week is the Fun Fair on Saturday to an amusement park. On Saturday as a sport day with different activities that involves even the daddy’s and mummy’s Games and refreshments.

• Youth Week (Ages 13 19) – A celebration event for youths to express and demonstrate their potentials and to also train and build them for life in the outside world. The programmes held are life changing and it has become hugely popular in the community as it has helped transformed the lives of some youths who have now joined our Youth Church.

• Mother’s Day – A special event celebrating motherhood and open to mothers, women, and ladies who live in the community, and it is one of our ways of showing the love of Christ to the outside world.

• Father’s Day – A special event celebrating fatherhood and open to fathers and men who live in the community.

• Compassion UK – This remains one of the key organisations that The Charity has consistently supported to make positive change in the lives of children from troubled zones of the world.

Volunteers

• The church and Gravesham Foodbank is grateful for the commitment (benevolent) efforts of its volunteers who are involved in services provision. The Church has over 60 volunteers, while Gravesham Foodbank has 45 volunteers committed to working within the Foodbank. It is estimated that over 23,000 volunteer hours were provided during the year. If this is conservatively valued at £10.00 an hour the volunteer efforts amount to over £230,000.

c. Financial review

Total receipts during the year was £261,819 (2022: £326,136). Total expenditure for the year was £282,471 (2022: £262,358). 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.

Page 3

THE REDEEMED CHRISTIAN CHURCH OF GOD: LIFE START CONNECTIONS

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

Objectives and activities (continued)

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.

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.

Page 4

THE REDEEMED CHRISTIAN CHURCH OF GOD: LIFE START CONNECTIONS

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

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:

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

Date:

Page 5

THE REDEEMED CHRISTIAN CHURCH OF GOD: LIFE START CONNECTIONS

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2023

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 2023.

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:

  1. accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or

  2. the accounts do not accord with those records; or

  3. 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:

Dated:

D Tabiri

ACIE FCCA

Page 6

THE REDEEMED CHRISTIAN CHURCH OF GOD: LIFE START CONNECTIONS

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023

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
2023
£
115,000
-
115,000
72,902
72,902
42,098
62,351
42,098
104,449		 Unrestricted
funds
2023
£
110,245
36,574
146,819
209,569
209,569
(62,750)
117,611
(62,750)
54,861		 Total
funds
2023
£
225,245
36,574
261,819
282,471
282,471
(20,652)
179,962
(20,652)
159,310		 Total
funds
2022
£
274,500
51,636
326,136
262,358
262,358
63,778
116,184
63,778
179,962

The Statement of Financial Activities includes all gains and losses recognised in the year.

The notes on pages 9 to 20 form part of these financial statements.

Page 7

THE REDEEMED CHRISTIAN CHURCH OF GOD: LIFE START CONNECTIONS

BALANCE SHEET AS AT 31 DECEMBER 2023

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
161,853
168,998
(36,839)		 2023
£
27,151
27,151
132,159
159,310
159,310
159,310
32,102
127,208
159,310		 2,145
5,000
168,765
175,910
(23,425)		 2022
£
27,477
27,477
152,485
179,962
179,962
179,962
62,351
117,611
179,962

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

................................................

Dr Bayo Aderemi Odedoyin

Date:

The notes on pages 9 to 20 form part of these financial statements.

Page 8

THE REDEEMED CHRISTIAN CHURCH OF GOD: LIFE START CONNECTIONS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

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.

Page 9

THE REDEEMED CHRISTIAN CHURCH OF GOD: LIFE START CONNECTIONS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

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.

Page 10

THE REDEEMED CHRISTIAN CHURCH OF GOD: LIFE START CONNECTIONS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

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 2023
Donations - Tithes, offerings, thanksgiving etc
Grants
Total 2022		 Restricted
funds
2023
Unrestricted
funds
2023
£
£
-
110,245
115,000
-
115,000
110,245
Restricted
funds
2022
Unrestricted
funds
2022
£
£
-
132,500
142,000
-
142,000
132,500		 Total
funds
2023
£
110,245
115,000
225,245
Total
funds
2022
£
132,500
142,000
274,500

Page 11

THE REDEEMED CHRISTIAN CHURCH OF GOD: LIFE START CONNECTIONS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

4. Income from other charitable activities

Unrestricted
funds
2023
£
Gift aid receipts
-
Donations - Gravesham Foodbank
36,574
Total 2023
36,574
Unrestricted
funds
2022
£
Gift aid receipts
14,190
Donations - Gravesham Foodbank
37,446
Total 2022
51,636		 Total
funds
2023
£
-
36,574
36,574
Total
funds
2022
£
14,190
37,446
51,636

5. Analysis of expenditure on charitable activities

Summary by fund type

Church activities
Gravesham Foodbank		 Restricted
funds
2023
Unrestricted
funds
2023
£
£
10,601
180,088
62,301
29,481
72,902
209,569		 Total
2023
£
190,689
91,782
282,471

Page 12

THE REDEEMED CHRISTIAN CHURCH OF GOD: LIFE START CONNECTIONS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

5. Analysis of expenditure on charitable activities (continued)

Summary by fund type (continued)

Church activities
Gravesham Foodbank		 Restricted
funds
2022
£
(8,557)
117,439
108,882		 Unrestricted
funds
2022
£
133,329
20,147
153,476		 Total
2022
£
124,772
137,586
262,358

6. Analysis of expenditure by activities

Church activities
Gravesham Foodbank
Total 2023
Church activities
Gravesham Foodbank
Total 2022		 Activities
undertaken
directly
2023
£
190,689
91,782
282,471
Activities
undertaken
directly
2022
£
124,772
137,586
262,358		 Total
funds
2023
£
190,689
91,782
282,471
Total
funds
2022
£
124,772
137,586
262,358

Page 13

THE REDEEMED CHRISTIAN CHURCH OF GOD: LIFE START CONNECTIONS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

6. Analysis of expenditure by activities (continued)

Analysis of direct costs

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
Foodbank miscellaneous expenses
Motor expenses
Music & Ministry expenses
Bank charges
Charitable donations
Conferences & special programmes
Total 2023		 Church
activities
2023
£
82,948
20,243
2,636
6,815
7,378
609
4,040
1,649
643
118
6,899
2,045
-
1,129
3,546
3,360
1,242
819
-
9,590
19,040
527
7,340
8,073
190,689		 Gravesham
Foodbank
2023
£
62,893
9,903
731
-
-
-
-
-
-
-
-
-
2,115
740
719
-
-
130
13,846
-
-
705
-
-
91,782		 Total
funds
2023
£
145,841
30,146
3,367
6,815
7,378
609
4,040
1,649
643
118
6,899
2,045
2,115
1,869
4,265
3,360
1,242
949
13,846
9,590
19,040
1,232
7,340
8,073
282,471

Page 14

THE REDEEMED CHRISTIAN CHURCH OF GOD: LIFE START CONNECTIONS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

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
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
124,772		 Gravesham
Foodbank
2022
£
105,562
8,289
129
-
-
-
-
-
-
-
-
3,905
400
240
-
-
-
2,519
-
-
705
-
-
137,586		 Total
funds
2022
£
151,788
28,289
7,754
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
262,358

Page 15

THE REDEEMED CHRISTIAN CHURCH OF GOD: LIFE START CONNECTIONS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

7. Independent examiner's remuneration

2023 2022
£ £
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 1,069 819

8. Staff costs

Wages and salaries
Social security costs
Contribution to defined contribution pension schemes		 2023
£
132,165
10,601
3,075
145,841		 2022
£
145,012
4,255
2,521
151,788

The average number of persons employed by the Charity during the year was as follows:

2023 2022
No. No.
Staff 3 3

The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:

2023 2022
No. No.
In the band £60,001 - £70,000 1 1

9. Trustees' remuneration and expenses

During the year, one or more Trustees has been paid remuneration of £62,347 (2022: £67,113) or has received other benefits from an employment with the Charity.

During the year ended 31 December 2023, no Trustee expenses have been incurred (2022 - £NIL) .

Page 16

THE REDEEMED CHRISTIAN CHURCH OF GOD: LIFE START CONNECTIONS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

10. Tangible fixed assets

Cost or valuation
At 1 January 2023
Additions
At 31 December 2023
Depreciation
At 1 January 2023
Charge for the year
At 31 December 2023
Net book value
At 31 December 2023
At 31 December 2022
Stocks
Food stocks
Debtors
Due within one year
Other debtors		 Short-term
leasehold
property
£
25,186
-
25,186
2,519
2,518
5,037
20,149
22,667		 Fixtures and
fittings
£
796
2,396
3,192
480
719
1,199
1,993
316		 Computer
equipment
£
25,516
1,543
27,059
21,022
1,028
22,050
5,009
4,494
2023
£
2,145
2023
£
5,000
5,000		 Total
£
51,498
3,939
55,437
24,021
4,265
28,286
27,151
27,477
2022
£
2,145
2022
£
5,000
5,000

11. Stocks

12. Debtors

Page 17

THE REDEEMED CHRISTIAN CHURCH OF GOD: LIFE START CONNECTIONS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

13. Creditors: Amounts falling due within one year

Other taxation and social security
Pension fund loan payable
Other creditors
Accruals and deferred income		 2023
£
8,001
88
22,950
5,800
36,839		 2022
£
5,434
691
16,500
800
23,425

14. Financial instruments

2023 2022
£ £
Financial assets
Financial assets measured at fair value through income and expenditure 161,853 168,765

Financial assets measured at fair value through income and expenditure comprise cash at bank and trade debtors.

Page 18

THE REDEEMED CHRISTIAN CHURCH OF GOD: LIFE START CONNECTIONS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

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		 Balance at 1
January
2023
£
117,611
62,351
179,962
Balance at
1 January
2022
£
116,184
Balance at
1 January
2022
£
-		 Income
£
146,819
115,000
261,819
Income
£
184,136
Income
£
142,000		 Expenditure
£
(137,222)
(145,249)
(282,471)
Expenditure
£
(153,476)
Expenditure
£
(108,882)		 Balance at
31
December
2023
£
127,208
32,102
159,310
Balance at
31
December
2022
£
146,844
Balance at
31
December
2022
£
33,118

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THE REDEEMED CHRISTIAN CHURCH OF GOD: LIFE START CONNECTIONS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

15. Statement of funds (continued)

Total of funds

116,184 326,136 (262,358) 179,962

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
2023
Unrestricted
funds
2023
£
£
-
27,151
32,102
136,896
-
(36,839)
32,102
127,208		 Total
funds
2023
£
27,151
168,998
(36,839)
159,310

Analysis of net assets between funds - prior year

Tangible fixed assets
Current assets
Creditors due within one year
Total		 Restricted
funds
2022
£
-
33,118
-
33,118		 Unrestricted
funds
2022
£
27,477
142,792
(23,425)
146,844		 Total
funds
2022
£
27,477
175,910
(23,425)
179,962

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 £3,075 (2022 - £2,521). £88 (2022 - £691) were payable to the fund at the balance sheet date and are included in creditors.

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