Redeemed Christian Church of God- Kings Chapel Welling Report and Accounts 31 December 2022 The Charity Registration Number is . 1136122
Redeemed Christian Church of God- Kings Chapel Welling Report and aeeounts for tho y•ar •nd8d 31 ¢ember 2022 Contsnts Charrty infonnatlon Trustees. annual r•port ststtrment of dlre¢tors' rnsptsn¥ibilitl8¥ Aeeountsnts. report Funds statemwrfs.". ststement offinanaal ath"wts"es Movernents in funds Incorne and en¢Y[bre aCunt Balance sheet 10 Note8 to the •¢¢ounts 12
Redeemed Christian Church of God- Kings Chapel Wèlling Trustees. annual report for the year ended 31 December 2022 The trusteès present thelr rewrt and accnts forthe yeaf endèd 31 Decembèr2022. R•f•ronce and administrative details The charlty name. The legal name of the charity i8.'_ Redeemed Chrkslian Chut¢h of God- Kings Chapd Wejling. Thg (arity is al¥0 known by its operating name, RCCG King's Chapel. The charitys aftas operatlon and UKcharftabl• registrJlion. The charity is registe in England & Wales the Charity Comrri in England & Wajtss ICCEW) wth charity number 1136122. The charity does not Operate in any r$easIurd1Ctiorts. Legalstructur• of the charfty The charty is constrtuted as an unin¢orporat&J charity. e¥tablished by trust Deed. The govtrming doc#Jment of the charTty is the trust Deed establishthg the thaiity. The goveming docunI is dated 31 December 2t)39 There are no restrictions in the goveming dooJmÈnts on the operatvJn of the Chatity or on ft8 investment powws other than tIKJse impThed ty Charity Law. Th• Tnt in offi¢e on th• dai• Il r•portwas approved We.. The trustees a all indNiduaL%. Mr Ta Okulaja (Chairman) Mr Emmanuel A Oduntan MrAdewaJe O Ido%w Mrs Mojisola T Arnusan Mr5 Victoria O Dada The principal OPen9 addrns¥. telephone nurnhr, emall and web address•s of the charlty ar#:. Unrt 10 Old Tram Yard L8kedale Road London SE18 IPW Telephone 02034892313 Email Address.. rccokingschaperj@gmal.com Web addresswww.rccgknngschapel.c)Jm Tb•lollowng pernoff& s•N•d as tru8tee8 during th• yo•rended 31 0gc•mbor 2022:. The trust•¢s who served as a trustee in the reports.ng period Ere as Sho above, and there re no changes during the year. or in the pernd behveen the year end and Ihe approval ofthe accounts.
Redeem8d Christian Church of God- Klng8 Chapgl Welling Trustees, annual roport for the year ended 31 December 2022 Objects and activities of the charity Thepury)osos of thè ctrity as s•t outin its governing do¢umenL The objects of the tharity are: 1. The atfvaneèment ofthe Chri8ban relva worf(trKk: and 2. The relief of povety. 11 pursues these objects bythe oFeratton of a Christian worship cerrtre at a faalrty JNxed at 241 242 Plurrtstead High Street. Lond, SE181JL It alw organises SFeoal tsaining and ThntrKing 7LtNities fw the urp10Yl, people pL3nning to start their own tr¥Jsinesses and mn a gerral informatKJn ntre for ts pU1c. The m•iTn activities undtrtaken in reladon to UsePu$es during ttRyear. Signrfbcant 8divitEs that contritrArted to the athent ofthese obiectsves We.. 1. Evènts Organed during the year tts promote the Christian faith indude di5tribubon of leafiets with Christian messagès, Organn9 delrverance services. all night vigils, sp81 prayers and cgjunselling. 2. other actNrties to hdp raise the profile of the charity in c4mUnty indLJed pl($. Mothers. day and Fathers, day CekbratKl. 3. Speofic adNities for relief of p)vety are in the areas of training and mentoring of the unemployed to start their busirsses and paSrj job informatti)n to Job seek8rs. Th• eontiibution of voluntews durlng thg year. The church is gratelul for the (XKnmitment and effms of rts volLmt8ers wty) a Invo in strrviGes kyovision. Thé thurckn has volurtteers commrtted lo working in variou5 departments wrtFun the church. The thurch continues io dispense Ihe seN¢ of heads of departments and niSterS to Ihat the best valuè i8 deriv&J from the sterfing efforts of tr vdtmtetrs. Grantmaklng policies and how these contsJTbui•d to Iho achl•vementof the eharitys oims and obj•ctives durlng th•year. Grants are made to other charitab t¥)dies. The sw)KM)rts missionary organisations such as the Festival of Lrfe and the Worfd Evangelism Mission. and other mi55ions and projects within arxl outside the U The church also provides supFort to memters of the tsjrgregati lat Ihe ¢thThtion ofthe trustees) vtho are in need. The main achievemerts and perforniane8 of the tharFty during the y•ar. The trustees we pjeased to report that the chLty¢h a)ntinued to bg Successful 5Pintualty by ministering lo many peOe in wayer aThJ Weare. The churth h•8 improved in membership strength and is increasingty wthirvJ out to wrnmunity.
Redeemgd Chrlstian Chur¢h of God- Kings Chapel Welling Trustees, annual report for the year ended 31 December 2022 Structure. govemance and management of the charity Thè n7ethod5 used to recwitand appolntnew charity trustees. New trustees are ected on the basis ofthe contribubon that tty w511 make to the govemarKe of the organisation and the skills that they wll contnt)ute. They are wovided with CO.•$ trf thè Charity commission's guKlance to trustees gNen an introduction to the activrbes of the tharity by the existing boaid. Thepolicies andPleds ftirthe Induction and fraining of1$t Existing trustees are provided th tsainry * aTrJ when reqwred. The ¢h8ritys organisational slructu The board 0ftruSt i8 headed by a Chaimwi, the Se• to thtr trust and a Fina¥81 administrator. AJI the present ernpioyees of the charity are voluntary workers. The trustees are reSp1ble for making all dec4On6 rewding alknLzb"on offund and The charitys relatlonships wlth related parties. Redeemed Christian Church of God, Chaw Wdling is a parish ofThe Redeemed Christsan Church of God- a netsrk comprising part5h&s all over the wodd. There is an agreement for ¢omrnon pwpose5 enter•J into by the chur¢h with The Redeer[d Christian Churth of God which documents this tiOnShip. Bankers: Natwest Bank P Gr8vesend Branch Bardays Bank PIC Dartfor(l Branth CrcAThiSÈ Con5utt Ltd 1A T{n Squae Eiith Kent DA8 1RE Accountant Financial review The Charis financialposlbon at th• end of th• ywended 31 December 2022 The finanaal p0SOn ofthe chanty al 31 Decernber 2022 and comparatives for the peric*J, as more fijlly deta.led in the a(ULuts. can be summansed as fc4bws:_ 2022 2021 Net income 36.7L 24.794 Unrestriclad rèvènuè fvnd$ available for thè 98ner81 purposes of the charrty 218,C62 181,356 Totsl funds 218.Cfj2 181,356
Rèdeemed Christian Church of God- Klngs Chapel Welling Tru$to•s' annual report for the year ended 31 December 2022 FinancIalVieW of theposillon at reportlng date, 31 Dgcember2022. During the year. income of £79,5211£79,016 in 20211 mainty receNed 8s voluntary donations. The net rnovemenl in fvnds forthe period, as shown in the statement ofanal activities, for the pèriod was a surplus tsf£36,7C6 1£24.794 in 21r211.The v&ue ol the Redeemed Christian Church of God, lthng's Chapel Welltng's net assets as at 31 Decemter 2022 15 £218,C62 (£781,356) in 2021. Pollcies on reserves. RestriGted fvnds are to be u$ed for sFecffic purposès as speofied within the objects of the charity. PenrtU which meets these criteria. will te Njenljfjed to the fvnd, together with a fair allocation of management and support wsts. Unrestricted funds.. Unrestwed fijnds arè dtiCS and other Irn recived sy generated for the objects ofthe charrty wrthotrt futhr speafi¢(J purFose arKJ are availakje general funds. Avallability and ad•qu•cyof assets of ch of the funds board of trustees ¢s &2tisfied that the charrtvs Gets are aYaable and èdequate to knffil its obligab'ons in resp@a of eath K¥J. Oetslls of The Indep¢ndent examlner Mr Adeniyi Zae5 Chartered Certffied Attountant 1A Town Squarè Ertth London DA8 1RE Statement of trust. responsibilities The charitys trustees are re8ponsiblt for weparation ofthe accounts in act0rdan with the terms of the ChatTrties Act 2011 and Ihe Charibes IALrwnts and Reports) RegulatK)ns 2(X)8. Nthithstanding the explicit requirement in the extant slabjtory regulab"ons,fft Chartbes {AcuJunts and Reports) Regulab"ons 2(KJ8, to Prepa the finarKial statements in acCOrdar wth the SORP 2005, in vtew of the fad that the SORP 2(X)5 has Ln withdrawn. the Trustee8 detemiined to interptet this responsibilty a5 reqijiring them to fotbyw tsJent best practice and prepare the accounts acrdIng to the FRS 102 SORP IStatenErt of Recommended Practice forAccounting and ReF4Jrting by Charityesl 2015. las amended by ttle Bts1"n issueLI in O¢Xob8r 2018 and appIlb to all w)unling peric¥Js Iwinning on 3fter 1st January 20191. SORP}. . In partigjlar, charity law wuires Ihe Injstees, epa acojunts on an basis, to prepare financ3al stments for eath financial year give a te and fair eW of the state of affairs ofthe charity as at the end of thè financial year and ofthe surplus or defiol of the charity. In preparing those finanu81 ststements the truslees are requi to :_ . to prepare the a¢xounts in accordan wilh United lfjngd Gèrwalty Accopted Accounting Practice (United Jfjngdom Accounting Standards and apkltsble lawl. - sele¢# suitable accounting FKJliaes an¢J apptythem COrlStentIy.' - makejudgernents and ests"[TleS that are wsonde and pnJdenL - yepaie the finanaal Statennts on the wng basts unless it is inapkwriate to presume that the charity will in L4Jsines¥,'
Redeemed Christlan Church of God- Klngs Chapel W•lling Trusto08' annual report for the year ended 31 December 2022 - state wlther aFvltsble tonts"t¥J Slandards and statements of recornmended pfaclic8 have been folkrwed, subpct lo any material departures thsdosed and e¥F4ained in the financia statents. The law requi that th8 trustees must not appyove the accounts unless try are satisfied that they gwe a true and fair wew of th8 stsle of affairs of the charrty 8fKI of the surplus or deficit of the ¢hanty for the year. The trust are also resp1 for mairrtaining adequate acctJunb"r¥J reo)rds which disdose wrth reasonable accuracy at any time the financial posrti.on ofthe charity and which ale suffiaent 10 Show and explain the charitys transadions and ènable them to ensure that the fin8ncAal ststements comply wrth WulatnS made undpr the Chariliès Act 2011. They are also resw)n5ible for safeguarding the 888ets of the charity and he for taking r¢a8onalAe steps for prevention and detection of fraud othw Irreg(Uar"e$. The trustees are also resnble for the uxrtents ofthe trustees. report, atyl the statutory reEponsibilty ofthe in(rendent examiner in relatson to the trustees, rwrt is limited to éxamining the report and ensuring that on the face of the rwrt there ¥8 no Matal irthrtsislgncies with the figures disdosed in the finanaal st*ements. Ths krt was approved by ts iK)ard oftntstees fm 31 March 2023. Taiwo 01laJa Chaimian board of trustees
Redeern Christian Church of God- Kings Chapel Welllng Report of the indondOnt &Yamin¢r to the trustee3 ofth¢ Charity on the accounts for the year ended 31 DeGemb•r 2022 I rèport lo thè trustees on my examinatitin of the financ4al statements of the ¢)larity on pages 9 to 12 for the year ended 31 December 2022 which have been prepared in ar>>)rdance with the Charities Act 2011 (the Act) and with the Finanaal Reporting Standard 102, (effective 1st January 20181 adapt8d lo meet the needs of unincorKK)rated organith"ons. as mcxJtfiÈd by FRS 102 SORP Istatement of Reoammenijed Practice for Accounting antj Reporting by Charities) 2015, las omended by the bulletin. issued in O¢tober 2018 and appli¢xble to all S(U0.ng pen.ods beginning on or after 1st January 20191. (rhe SORPI. published by the Charty Commrssion in England & Wales ICCEW) and under the historic Cost o)nvenkn"on and the aCU.ng wlicies sel OLrt on pages 12 10 13. ftespecti responsibilibes of thè Irustees and Ihe independent examiner and the basis of the rnport As descx5bed on page 6. you. the tharis tnjstees. are responsible for the pPai3t1¢m of the finanual statements in arLordance with the Chartt$ Act 2011 and 811 other applieable law and with United Kingdom Generally Accepted Aco)unting Prath. applicable to smaller enbbes, and for be¢ng satisfied that the finanaal ststernents give a true and fair $W. The trustees consider that the audit rLNuirement of S&on 144111 of the Charrbes Act 2011 (the Act) does not apply. and that there is no requirement tn the goveming document for the ndUcting of an audit. As a consequen. the trust have eleced that thè financial statèments be subject to independent examination. Hamng sats"sfied myself that the finanual stements are not reqUId lo be audited under any legal prowsion, or othèmse. and are eligible for independénl examination, rt is my responsibility to.'- al examine the financial ststements of thè chairty Seclion 145 of Ihe Act.. bl follow the applicable PfDcedures in ts Direions gNen by the Charity CMiSsion under saction 14515llb) of the A. Basis of ind•penthntexamin8rf8 statemènt and scope of work undertakeft I report in pect of my examinalion of the ch8riVs financaal statements carri8(l out under s145 of the Act. In carrying Out rny exarnination. I have followed all the applicable directions given by the Charity Commission under section 14515)Ib) of the Act seiting out the duties of an independ6nt 8xamineT in relation to the conducting of an independent examination. An irHJependent examination indudes a rev7ew of the aux)unting records kept by the charrty and of the a(x£)unb"ng systems ernployed by the charity and a compariwn of the ffnano31 stslemenis presented wth those records. It also indudes consideration of any unusual rtems or disdosures in the financial stslements. and seekn.ng explanations from you. as trustees, conceming suth maitets. The purpose of the ex8minats.on is t¢ establish as far as possible that thwe have been no breathes of chanty18gislation and that, on a test basis of ewdence rel¢vant to the amounts and disclosures [de. the finanoal statements o)mpty wrth the SORP. The procedures undértaken do not pde all the ewdenee that woukj be rèquired in an audf(. and informats'on supplied by the Truslees in the c4Jurse of the eMInation is not subjected lo audit tests or enquiries and does not cover all the matters that an audttor would considgr in arriving at an tspinion. The planning and Ixjnduol of an audit goes teyond thg limrteJ assurance that an iTrJependent exarninaiion can provide Consequ9n¥y, I do not express an audrt opinion LN) the view gNen by the finanaal stslernents, and in particular. l axpress no opinion as to whether the finanoal statemerrts givè a true and fair wew of the affairs of the charity, and my report is limited to matters set out in the statement below. I planned and performed my examinalion 50 as to satisfy Myse that the objethes of the independent examinats.on arg achieved and before finalisiThJ the repxjrt l obtwned written assurancès frorn the trustees of all mÈrial matters.
Redéemed Christian Church of God- Kings Chapel Wolling Indep¢ndent examinerfs 51atemenL port and oplnlon Subject to the lirTritations upon the s(x)pe of my w(k as detsiléd abo. I have c¢Jmpleted my examinatton.. and can confimi that". This is a rèport in respe¢t of an èxarnination carlied out under 145 of the Ad and in accordan¢e with Directions given by thg Charty Ccffimiwon under section 145{5)Ibl of the Act whith may be appli(xble' and that no material matters have come to my attention in connection with the examination giwng me ¢xuse to believe that in any material spect= acctsunling records were not kept in Spe(# of the tharity as requi by ¥h Sec"on 130 of The Charitiès Act 2011., the financial $taternents do not atxord with those rards. or the financial ststernenls do not cxjmply wrth the applicable requiremerrts ts)nceming thè fomi and eontent of ac<x)unts set out in the Charibes {Arunts and Reports) R8gulations 2008 other than any requirement that the accounts give a and fairf vi. whith is not a matter considered as part of an independent wmination.. ha not been prepared in accordance with the mèthods and print4ples set OLrt in the FRS 102 SORP Istatemenl of Recommended Practi for Amnting and R8poÈting by Charibesl 2015,13s amended by the Bulleb"n issued in October 2018 and applica to all acttwnb.ng penod$ beginning on or aftar 1st January 20191, lThe SORPI. I have no eonrEms and have cvme across no other matters in conneL#ion with the examination to which attentton should be drawn in this report in order to enable a proper undeistanding of the financial stslements to be wthed. Signgd:. Mr Adeniyi Zattheus- Independent examiner Chartered Cerbfied Accountsnt 1A Town Square Ertth London DA8 1RE This report was signed on 31 March 2023
Redeemed Christian Church of God- Kings Chapel Welling - Ststernent of Financial Activities for the yoar ended 31 D¢¢embef 2022 statem?nt of financtal a¢tivities for the year end•d 31 December 2022 Current year Unrestricled funds 2022 Current year Restrfi¢tgd lunds 2022 Curr•nt year Total fundg Prior year Total funds 2022 2021 Income & endowmènts from: Donations & legacAes 79,521 79.S21 79,016 Exp¢nditure on: Charitabltr actiwties 42.815 42,815 44.222 Total expendire Net income for the yèar 42.815 36.706 42.815 36.706 44,222 34.794 Prior ygar adJu$tment (lo.]0) Not movem•nt in funds 36,706 36.706 24,794 Rèeonciliation of fund¥:_ Totsl funds brought forward 181.356 181,356 156,562 Total funds carl1 forward 218.062 218.062 181.356 The 'SORP Ref indicated above is the dassrfication of inLx)me set out in the formal SORP documents. As required by paragraph 4.60 ofthe SORP. the brought forward and carried forward funds above have trA8n agreed to the balance sh A separate statement of total reLrynis¢d gains and losses Is not requir&J as this ststement includes all recognised gain5 and losses. AJI actwityes derive frorn continuing operations R8d•èm8d Christian Church of God- Klng5 Chapel Welling - ReUl¢e5 applled in the year ènded 31 D•¢ombpr 2022 towards fixed assets far Charity use:. 2022 2021 Funds generated in the #T as d*il&J in the SOFA 24,794 Net resourctt available to fund charltable ti¥llieS 36,706 24.794 The resources appli8<J on fjxpjj assets for cfwity use represents the st of addtrtions less proceeds of any disposals. Th• notss attached on pages 12 to 19 forn) an IntÈgral part ofthèso accounts.
Redeemed Christian Church of God- Kings Chapel Welling - Statement of Financial Activlties for the year ended 31 December 2022 Movements In r8ven and capital funds forth? year ended 31 December 2022 Revenue aGGumulat¢d funds Unrestrlcted funds 2022 Restrfcted funds 2022 T4)lal fund¥ 2022 Last year Tolal funds 2021 Attumulated funds brought fo Recognised gains and losses b&ft)re transfers 181.356 36.7[ 218,062 181.356 36,7C 218,062 156.562 34.794 191.356 Prior year adjustment {10,CK)01 Closing rèvenue funds 218,062 218,062 181.356 Summary of lunds Unrestrl¢led and De#igrsated fund# 2022 Totsl funds Last Year Total funds funds 2022 2022 2021 Revenue acujmulated funds 218.C62 218.062 181.356 Redeemed Christian Church of God- Kings Chapel Welling Income and expenditure account for the year ended 31 December 2022 as requlred by the Companles Act 2006 2022 2021 Incom• Incorne from operations Refunds from HMRC on grft aNJed thnalions 79.521 79,016 Gross income in the including exceplional iiems 79,S21 79.016 Expenrfrture CharTtable èxpenditurè, exduding d8prnciab.on and amor1isation Depreaalion and amorb"satson Govemance costs 37.738 4.327 750 32.145 11.327 750 Total expenditure in the year 42,815 44,222 Retained surplus for the financial year 36,706 34,794 AEI activ8$ derive frorrt continuiThJ operat¥Jns In ardance with the pThisions of the CrAnPan Act 2C(6, Ihe headings and subhe•Jing$ used in the inrne and expenditure account have twi adapted to llect the specaal nature of the charitys The notes atsched on page¥ 12 to t9 form an integRI part ofttw accounts.
Redeem&d Christian Church of God- Kings Chapel Welling - Balance Sheet a5 at 31 December 2022 Notes 2022 2021 Fixed assets Tangible assets 68,209 72,536 Current assets Debtors Cash al bank and in han 10 30.964 136.213 35.964 90.180 Total current a55ets 167.177 126.144 Creditors: amounts falllng due withln one year 11 (7501 (750} Net Current assets 166,427 125,394 234.636 197,930 Net assets Creditors.. amounts falling due after more than one year 12 (16.574) 116,5741 The total net assets of the charity 218,062 181.356 The total net assets of the charlty are funded by the fvnds of the charlty, as follows:. Restricted funds Unrgstrictsd funds Unrestricted revenue fvnds 15 218.t62 181,356 218,062 181.356 D•signat¢d fvnds Totsl charlty funds 218.062 181.356 For the year ending 31 December 2022 the company vrds entrtled to exernptn from audit under section 477 of the Companies Act 20 relab.ng to small companies. The trustees are satisfied that. although the charity is not registered under tlie Companies Acts, rf it were so registered, it WOLtld be eligible to prepare acccmjnts in accordance with the provisions in Part 15 of the Companies Act 2006. applicable to companies subject to the small companies regime. The charity is subject lo independent examination under charity legislation. and the report of the independent examiner is on page 6 and 7. 10
Redeemed Christian Church of God- Kings Chapel Welliftg - Balaneo Shoot as at 31 Doe•mb8r 2022 The trustees are satisfied thaL aRhough the charity is not registered under the Companies Acts, if il were so registered, (t would be eligible lo prepare accounts in accordan(2 wrth the provisions in Part 15 of the Companies Act 2006. applicable to companies subject lo the small companies re9ime. Taiwo ulaja Chairman board of trustees Approved by the board of trustees on 31 Marth 2023 The notes attached on pages 12 to 19 forrn an intsgral part of theso accounts.
Redeemed Christian Church of God- Klngs Chapel Welling Notss to tha accounts for the year ended 31 December 2022 1 Accounting policies PollciTgS relatlng to thepn)dudion of theaccounl& Ba¥is of preparation and accounting cOnntIon The accounts have ppared on the accnjals basis. under the historical eml eonvention. in accordance with the Finarxial Rerx)thng Standard 12, leffe(ve 1st January 20161 and'FRS 102 SORP (Statement of Recommended Pra¢c8 lor Accounting arxl ReFK)rting by Charities) 2015, {as amended by the Bullet'n issued in October 2018 and applicab lo all accountirMJ periods beginnig on or after 1st January 2019}, (The SORPI, published by the Charriy CommissK)n in EThJfand & Wales ICCEW) . effectiv8 January 2016, . and in acczrdance wffh all applicabte law in the Gharitys jurrsdicbon of registrthn, expt that the ch8rity has prepared the finanrial statements in accordance with the FRS 102 SORP (Statement of Recommended Pr8d1 forAecounting and Reporting by Charibesl 2015. las amended by the Bulletin issued in OctOr 2018 and applicable to all acuntI"n9 Ferirxls teginniThJ on or after 1st January 20191, (The SORPI. in preference to the prevh)u5 SORP, tl SORP 2LY)5. whK has bèèn wrthdrawn, nohvithstanding the fad that the etsnt statutory reguiqtions. Charrbes (Accounts and Reports) Regulations 2008 refer explioty to the SORP 2005. has been ¢Jone to acr4 with rajrrent best prartice. Risks and luture assumptF¢)n¥ The charity is a publ benefit enttty. Policies r•lAting to eatewies of income •nd Incomg TOgnion. Nature of Ineome Gross inwme reFxesents the valuè. of valJ 8dded tsx and disownts. of gcK#J8 wovidejj to customers Categories of Incom& Income is categorised as inccffla from excharvJe transactions {o)ntrad ints)mel and IrM0 frorn nor èxchange trans8cti¢)ns {gffts), iftvestment income and income. Ineome from èxchange trdnsa¢tions ts received by the charity for goods or 3ervices supplied under contract or where entitlemtt is subiect to fulfilling perfomnce refated conditions. The irKX)me the charity c&ves is approximat81y equal in value to the gL¥x15 or Se Supplied by the charity lo the purchaser. Income from a nOxChang transaction is the charrty recewes value from th¢ donor withoui providing equal Val in excharrfje, and indLJes donatiorts of money. go&Js and seNiw fredy given without giving equal value irt exthaNJe. Income rneognrtyon Income. whether from exchaftge or ex¢ange transathns, is recogni5ed in the ststement of financ¢al actiVTtses ISOFAI on a receNable basis. vthen a transaLton or other event resijlts in an increase in the charrvs assets or 8 reducb.on in ts liabditles 8ThJ ty Wh dwity has W entiknnt. the InCMe r8 pmbable and can be rneasured rdiabty. Incomè subpd to temts 8nd 01)n$ which must be met befwe the charrty is entiued to the resources is not recognised until the wnditions have been met. l incom r6 acc3)unted for gross, befo dsductir4J any rebbj fees tycosts. 12
Redeemed Chrlstlan Church of God- King5 Chapel Welling Notes to the accounts for the year ended 31 December 2022 Pollcl•s relating to 4xpendlturÈ on goods andservices pmvided to the charity. Voluntee In accordance with the SORP, avKI in rwnrbon oflhe drIrt in placing a monetary value on the contribution from vdunteers, ttE contribution of vc4unteers i% not indude(I within the incrne of the tharity. However. the trustees value the signrfKant Ix)n¢ributhJn madè to the aCtsVts tsf the charity by unpaid voluntee[5 and this is dtrsGri mofe fulty in Note5. Pollclés relating to assets. Ilabilities andp$108 and oUrtrmatter&. Tangibl& fixed assets Tangible flxed assets are measured at their or¥Jinal rAJSt value. or SLtbsequent revaluatKJn, or rf donated, described above. Cost vdue IudeS all costs expended in britvJing the asset into rts intended working Condc. Depreciation has been provided at the forIng rates in fyto write off Ihè 8s8ets to thew anticipated residual value over their estimat8d useful Iwes. Propety limprovÈments) FÈxtures and fittings Church equipment Motor vehides 2% strawJht fine 25% straight lir 20% straight line 25% straighl lu)e Dèbtor¥ Debtors are rneasured at th¢ir To¥erable ants at the baance She date. credito and provislons Short tem credf(ors a measured at transath.on (whith is LU8ty the invoice prifl. Loans and other finanoal liabilrties are initrdlly recognised at transath.on price net of any transaction costs and subs8quenUy measurwj at amorti8e4J cost dètermiwy effethe interast mgthod. Fund aeeaunting Gen&r85 funds are unrestrisd fuThJ$ whicth are availaue for use at th8 dis(xelicn of the trnstees in fvrthean ofthe general obiecves ofthe c1th and whth have not been des*JnatèJ fty other purposas. Restricted fund5 are fijnds whith are to te used in accordan wrth Spe restrKkn imposfjd by donors or which have been raised by the chur¢h for partla[ wrFx)ses. The cosis of r#ing and adminislering s(th fur¥J$ are chaw ag8inst the spth fvnd. The aim and use of each reStrted fund is Sel ¢xrt in the notes to the financial staternents. There are no endowment ftmds. 13
Redeemed Christian chUh of God_ Kings Chapel Welling Notes to the accounts for the year ended 31 Decemb•r 2022 2 abIlIty to taxation The tru5tee$ consider that the chartty satisfies th? tests set out in Paragraph 1 seldule 6 of the Finance Act 2010 for UK corporation tax wrpo5es. Accordingty. the charity is potentialty exempt from taxation in respect of itMx)me or capital gains rÈe£Ned wthin categories Cove by chapter 3 part 11 of the Corporation Tax Act 2010 or sli0n 256 of the Taxation of Chaffgeab Gains Act 1992, to the extent that such income OT gains are applied exduswety on the 8petsk charitable objects of the tharity and for no otlJer purpose. Value Added Tax is not recovwatAe by the charty and thuefor¢ indJed in the re9ftt costs in the Statement of finanual adivibes. 3 Winding up or dissolution of the charrty If upon winding up or dissolution Of the charity there maIn any assets, after the sab"sfaction of all debts aTh liabiles, the assets represented by the acrJJmulated fund shall te transleFred to some other charitse boo or bodies having simikr objeds to the tharity. 4 Net surplus before tsx in thè financial year 2022 2021 The net SUV$ lfte tax in the finar131 ts st8ied after thapiThJ:_ Dapr8ciation of Own fixed assets Pension costs 4.327 216 11,327 25 5 The contribution ofvolunteers The charity derends on the suppxjrt of ts ¥unteers. which is rnh appr8a"atsd. The chanty had over2 volunteers who worked for over 576 hour5 oftheir time stevatding event5. The arrangements with volunteers are drffcutt to value preusety in monetsry temis and have nol tseen recognised in the Statement of finanoal The volunteers arld the chartly apt an¢J aee that no cl of employThent is created by thèsè arrangerrEnts. 6 Staff costs and emoluments Salarycosts 2022 2021 Gross Salari8s •xdLKlin9 tnjstees and kay man3errwt psn Employèrfs operating o)sts of definl ontribution pension 5ch8ffles 1.657 216 Total salarfes wages and relatsd Costs The average numbèr of part ts.rne staff emph)>8d in ywr was 4S81 1,682 7 Defined contribution pension schemes The charity operates a defird ¢J)ntribuknon pensKJn thme. the costs ofwhith are shown above. Any liabilites and assets assouated with the scheme e sl%Mn urhjer debtors and cr¥drtors. B Remuneratlon and paymwts to Trustees and ptsons connected wlth them No trustèes or pBrnS o)nnect&J wth them any reMUra.0n from the thaiity, or any rejatéd entty. 14
Redeemed Christian Church of God- Kings Chapel Welling Notes to tho accounts for the year ended 31 Decembor 2022 9 Tanglble fixed assets Propetty limprovem entsl Fumiknre Current Yoar Motor vthicles equipment Total Cost At 1 January 2022 28.015 114,625 222,275 At 31 DeCemr 2022 79.635 28.015 114.625 D•pr8ciation At 1 January 2022 Charge for the year 11,881 28.012 109,846 2,730 149.739 4.327 At 31 D8cember 2022 13,475 28.015 112.576 154,066 Net book value At 31 December 2022 66,160 2.049 68,209 At 31 Drnber 2021 67.754 4,779 72,536 10 D8btor¥ 2022 2021 Other debtcrfs 3),W 35.964 11 Creditr*r¥: amounts falling due wlthin one year 2022 2021 A¢¢ruals 750 750 12 Credltor5: amounts falllng due aftw onè year 2022 2021 Financtr1•8se and HP contr8cfs 16,574 16.574 13 Income and expendtbJr• aecountsummary 2022 2021 At 1 Januwy 2022 Prior 8[ adjustm¢nts At 1 January 20 Surplus aftertax forthe p•r 181, 158,562 (10,0001 146.562 34.794 181,356 38.7C At 31 Dernber 2022 218.062 181,356 15
Redeemed Christian Church of God- Kings Chapel Welling Notes to the accounts lor the year end8d 31 0•mber 2022 14 Paruculars of how particular funds ar• r•prpsented by ass•ts and liabilities At 31 DeMber 2022 Unrestricted Designat Rèstri¢ted funds fun¢Js nds Total fttnds Tangible frx8d a&sets Current assets Currant liabilities Long term liabilit*s 68,209 167.177 ft50) (16.5741 68.209 167,1T7 17501 116,5741 218.062 218.062 At 1 January 2022 Unrvstricted Designated Restricted fund$ funds fund$ Total funds Tangibje ftted assets Current assets Currtrnt liabilitie5 Long temi liabilities 72.536 126.144 17501 116,5741 126.144 (7501 116,574 181.356 181.356 15 Chartg¢ in total fund8 overthe yeara$ ¥hown tn Note 14. an•ly8ed by individual funds Funds brought Movement fotward in funds in from 2021 2022 Funds Post carried balance forward to 2023 events See Nots 16 S•• Nots 14 Unr•strlct•dand d•slgnat8d fvnds... unrestn.cted revenue fimds 181.356 218,062 Totsl unreEth¢t artd d•slgnated funds IB1.356 36.706 218,062 Total charity funds 181,356 36,706 218.062 16 Analysis of movem8nts In funds oNprthe year as shown in Nots 15 Other Income ExperKliture Gains & Movement In funds 2022 2022 2022 2022 Unrestrithd and deslgn•t8d funds.". Unrestricted revenue ftjnds 79.521 {42.8151 36.706 16
Redeemed Christian Church of God- Kings Chapel Welllng Detailed analysis of income and eXpendirE for the year ended 31 Dewnber 2022 a5 requlr•d by the SORP 2015 This analysis is classslrdbYe0nvetionalornIna1 denplon8 andnotbyactivity. 17 Donations. grants and Je9acies Current year Current year Current year Prior year Unrestricted Restrictsd Total Totsl fund5 fund$ fund$ funds 2022 2022 2022 2021 Donations and gifts from individuals Small donations indiwdually less than £1C(KI Refunds frorn HMRC on gfft aided donations Grants 79,521 79.521 79.016 Totsl donations and gift5 from individuals 79,521 79,521 79,016 18 Expendire on charltsblè activilies - Dlrect swndlng Current year Current year Current year Prior year Unr85tricted Restrtthd Totsl Total funds funds funds funds 2022 2022 2022 2021 Currenty•ar Gloss wages and saries- charitsble activities Define¢J contribub.on pension costs - charitsble a&wTlies Travel and subsistence- Charitable aetiwtres Honourarium Entertainment 4345 1,657 216 216 25 1.520 1.520 2C() 1.742 200 1,742 463 Total direct spending 8.023 8.023 2.145 19 Exp•nditure on charitable athftl•¥- GTrnt fundlng of activltiOS Current year Currpnt year Current year Prlor Unrnstricted Restricted Total Totsl fund5 funds funds lunds CurTentyear 20 2022 2021 Grants made lo indTwduals Grants mado io organisations 1805 Totol 9rnrttManll ¢05 1155 3.155 17
Redoerned Christian Chureh of God- Kings Chapel Welllng Detailed analysis of income and expendlturp for the ye•r ended 31 Docèmber 2022 a$ requlred by the SORP 2015 Breakdown of Grants to organisatlon5 ¢¥n*ntyear CurrEnt y•ar Cwr•rrtyear Toial fundi Currentyear fuhd• fvnd5 2022 22 2022 Festwal of lrfe Central offi WEM 150 150 805 20 Support costs f¢T charitable activiti8s Currenty•ar Curvent year Current year Prior year Unrestri¢ted Rostricted Totsl Totsl funds nds funds funds 2022 2022 2022 Currenty•ar 2021 Volunteer ¢0sts Volunteèrs, expenses Travel and subsisten¢e- volunteers Premlses expenses Rent Light heat and ptrwer Premises repairs. renewals aThJ maintenance Utilities 18,OC 4.353 18,000 4.353 19,250 752 23 923 4,569 579 S79 Telephone. fax and intemet Stationery and printing Subscriptions Equipment expenses Liabslty and cont8nts Jnsuranc• Sundry expense5 1.147 575 1,147 575 1.627 792 200 Professional fees paidto a(fvtsors oth•rthan the auditor or examin Other al and professional 260 Financial costs Depreryation 4.327 4.327 11.327 Support costs before rnallocatoon 30.887 30,887 38.777 Total support ¢o$ts - Curront 30,887 30.887 38,777 The basis of allocation of (x)sts between a¢llti.e5 15 describe(l under accounb.ng policaes 18
Redeemed Christian Church of GtJd- Kings Chapel Welllng Detailèd anal1& of Income and expendityre forthe year endgd 31 D8Mber 2022 as r•quired by the SORP 2015 21 Other expendityre- Governance costs Currentyear R•Ktrf¢t•d fvnd Tolal fvnds Total funts ldI 2022 2022 202Z 202f Independent examinerfs fees 79) 750 750 750 750 750 AJI th• expeTrJrturn in Ihe prtr year was wr85trthJ. 22 Total ¢haritablo expendibjre Current year Curyent year Current year Prior year Unr¢strictod R•stricted Total Total fund5 funds fund¥ funds 2022 2022 2022 Curr8ntyear 2021 Total direct spending Total granlmaking costs Total support costs Total govemance costs 8.023 3.155 30,887 750 8,023 3,155 30,887 750 2.145 2.SSO 38,777 750 Total ¢haritable expenditurn 42.81S 42,815 44,222 19