CHARITY REGISTRATION NUMBER: 1138719
Reformed Church Zimbabwe - International Unaudited Financial Statements 31st December 2021
MR A A B GRAINGER FCA OF
Chartered Accountants Griffiths & Pegg Limited Chartered Accountants 3 Hagley Court South Waterfront East Level Street Brierley Hill West Midlands DY5 1XE
Reformed Church Zimbabwe - International
Financial Statements
Year ended 31st December 2021
| Pages | |
|---|---|
| Trustees' annual report | 1 to 3 |
| Independent examiner's report to the trustees | 4 |
| Statement of financial activities | 5 |
| Statement of financial position | 6 |
| Notes to the financial statements | 7 to 13 |
| The following pages do not form part of the financial | statements |
| Detailed statement of financial activities | 15 to 16 |
| Notes to the detailed statement of financial activities | 17 |
Page 1
Reformed Church Zimbabwe - International
Trustees' Annual Report
Year ended 31st December 2021
The trustees present their report and the unaudited financial statements of the charity for the year ended 31st December 2021.
Achievements and performance
Due to the COVID 19 pandemic expenditure towards rentals and travel were very low as there were no physical gatherings taking place. We therefore managed to build a healthy reserve of funds due to suppressed expenditure. It is anticipated that in the next financial year this position could change, therefore there is need to be prudent and closely monitor cash flow trends. Central to the church's objective we endeavour to continue building effective relationships and networks with local charity organisations and to establish a successful collective approach in support of the under privileged both locally and internationally. The church assisted some elderly people who were going through difficult times due to the pandemic and donated towards funeral costs of some congregants who lost their loved ones. The Church also donated funds to a nursing and children's homes.
Church membership continues to grow and has been accelerated by a lot of Zimbabwean migrants relocating to the UK. Plans are in place to divide the Church into two congregations managed under one Charity. Two ministers of religion are full time employees and will run these congregations independently.
The church has cemented its membership of the Reformed Church International Presbytery of the Reformed Church in Zimbabwe. In line with our vision, the church membership continues to support fundraising schemes towards raising funds to invest in a Church building of our own. The church will also work to raise its profile in the local communities through participation at local events and helping to raise money for local needs.
Financial review
The results for the year, and the financial position at the end of the year, are shown in the attached financial statements.
Reserves Policy
The Trustees agreed to hold 3 months of unrestricted funds for operational costs to meet the going concern requirement and restricted funds shall be held in total to purchase or build a church building in future.
Structure, governance and management
Reformed Church Zimbabwe - International was formed in May 2010, constituted under a Trust Deed dated 2nd May 2010 and was granted charitable status on 1st November 2010.
Trustees are appointed by the board of trustees. Additionally there is a management sub-committee that meets on a regular basis to implement policy and organise fund raising activities.
Page 2
Reformed Church Zimbabwe - International
Trustees' Annual Report (continued)
Year ended 31st December 2021
Reference and administrative details Registered charity name Reformed Church Zimbabwe - International
Charity registration number 1138719 Principal office High Street Lye Stourbridge Birmingham DY9 8LF
The trustees
Rev G Mutukwa Rev S Chizhande Mr B Sibanda Mr E Maradza Mr M Simbi Mrs A Ncube Mr T Chiketa Mr T Simbi Mrs J Nyamaswe Mrs L Murazvu Mr F Maruzani Mr A Seka Mr V Matamba Mrs R Makombe Mr V Muzombi Mrs R Bennett Miss L Muzvidziwa Mr D Mugwangi Mrs G Mtetwa Mr N Tauchira Mr N Chikoti Mrs T Mushango Mrs G Mandivenga Mrs P Mapfumi Mrs E Manunure Mrs J Makoni Mrs E Adaarewa Mrs L Mavurayi Mr T Zhakata
Independent examiner
Mr A A B Grainger Griffiths & Pegg Limited Chartered Accountants 3 Hagley Court South Waterfront East Level Street Brierley Hill West Midlands DY5 1XE
Page 3
Reformed Church Zimbabwe - International
Trustees' Annual Report (continued)
Year ended 31st December 2021
Plans for future periods
Central to the church's objective we endeavour to continue building effective relationships and networks with local charity organisations, to establish a successful collective approach in support of the under privileged both locally and internationally. Growth of the church membership in the future months continues to be the church's aim so that many people might receive Jesus Christ and be part of the Charitable Christian community.
Our affiliation to the church in Zimbabwe (Reformed Church in Zimbabwe) continues to strengthen. The church became a member of the Reformed Church International Presbytery of the Reformed Church in Zimbabwe.
In line with our vision, the church membership continues to support fundraising scheme towards raising funds to invest in a Church building of our own. The church will also work to raise its profile in the local communities through participation at local events and helping to raise money for local needs.
The trustees' annual report was approved on 23rd November 2022 and signed on behalf of the board of trustees by:
Mr T Simbi Trustee
Page 4
Reformed Church Zimbabwe - International
Independent Examiner's Report to the Trustees of Reformed Church Zimbabwe - International
Year ended 31st December 2021
I report to the trustees on my examination of the financial statements of Reformed Church Zimbabwe - International ('the charity') for the year ended 31st December 2021.
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the charity as required by section 130 of the Act; or
-
the financial statements do not accord with those records; or
-
the financial statements 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.
Mr A A B Grainger Independent Examiner
Griffiths & Pegg Limited Chartered Accountants 3 Hagley Court South Waterfront East Level Street Brierley Hill West Midlands DY5 1XE
23rd November 2022
Page 5
Reformed Church Zimbabwe - International
Statement of Financial Activities
Year ended 31st December 2021
| 2021 | 2020 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | ||||
| funds | funds | Total funds | Total funds | ||
| Note | £ | £ | £ | £ | |
| Income and endowments | |||||
| Donations and legacies | 4 | 103,208 | 270 | 103,478 | 132,465 |
| Charitable activities | 5 | 11,223 | – | 11,223 | 21,867 |
| Other trading activities | 6 | 1,284 | – | 1,284 | 1,244 |
| Investment income | 7 | – | 3 | 3 | 28 |
| -------------------------------- | -------------- | -------------------------------- | -------------------------------- | ||
| Total income | 115,715 | 273 | 115,988 | 155,604 | |
| ================================ | ============== | ================================ | ================================ | ||
| Expenditure | |||||
| Expenditure on raising funds: | |||||
| Costs of other trading activities | 8 | 4,084 | – | 4,084 | 365 |
| Expenditure on charitable activities | 9,10 | 84,184 | – | 84,184 | 88,574 |
| -------------------------------- | -------------- | -------------------------------- | -------------------------------- | ||
| Total expenditure | 88,268 | – | 88,268 | 88,939 | |
| ================================ | ============== | ================================ | ================================ | ||
| -------------------------------- | -------------- | -------------------------------- | -------------------------------- | ||
| Net income and net movement in funds | 27,448 | 273 | 27,720 | 66,665 | |
| ================================ | ============== | ================================ | ================================ | ||
| Reconciliation of funds | |||||
| Total funds brought forward | 97,749 | 28,990 | 126,739 | 60,074 | |
| -------------------------------- | --------------------------- | -------------------------------- | -------------------------------- | ||
| Total funds carried forward | 125,197 | 29,263 | 154,460 | 126,739 | |
| ================================ | =========================== | ================================ | ================================ |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 7 to 13 form part of these financial statements.
Page 6
Reformed Church Zimbabwe - International
Statement of Financial Position
31st December 2021
| 2021 | 2020 | |||
|---|---|---|---|---|
| Note | £ | £ | £ | |
| Fixed assets | ||||
| Tangible fixed assets | 16 | 1,978 | 589 | |
| Current assets | ||||
| Debtors | 17 | 25,414 | 24,874 | |
| Cash at bank and in hand | 131,829 | 104,263 | ||
| -------------------------------- | -------------------------------- | |||
| 157,243 | 129,137 | |||
| Creditors: amounts falling due within one year | 18 | (4,762) | (2,987) | |
| -------------------------------- | -------------------------------- | |||
| Net current assets | 152,481 | 126,150 | ||
| -------------------------------- | -------------------------------- | |||
| Total assets less current liabilities | 154,459 | 126,739 | ||
| -------------------------------- | -------------------------------- | |||
| Net assets | 154,459 | 126,739 | ||
| ================================ | ================================ | |||
| Funds of the charity | ||||
| Restricted funds | 29,263 | 28,990 | ||
| Unrestricted funds | 125,197 | 97,749 | ||
| -------------------------------- | -------------------------------- | |||
| Total charity funds | 20 | 154,460 | 126,739 | |
| ================================ | ================================ |
These financial statements were approved by the board of trustees and authorised for issue on 23rd November 2022, and are signed on behalf of the board by:
Mr T Simbi Trustee
The notes on pages 7 to 13 form part of these financial statements.
Page 7
Reformed Church Zimbabwe - International
Notes to the Financial Statements
Year ended 31st December 2021
1. General information
The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is High Street, Lye, Stourbridge, West Midlands, DY9 8LT.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Charities Act 2011.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102:
(a) No cash flow statement has been presented for the company.
(b) Disclosures in respect of financial instruments have not been presented.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
Page 8
Reformed Church Zimbabwe - International
Notes to the Financial Statements (continued)
Year ended 31st December 2021
3. Accounting policies (continued)
Incoming resources
All income is included in the statement of financial activities when entitlement has passed to the charity, it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
-
income from donations is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
-
legacy income is recognised when receipt is probable and entitlement is established.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
-
expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.
-
expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
-
other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Tangible assets
All fixed assets are initially recorded at cost.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
| Computer Equipment | - | 25% straight line |
|---|---|---|
| Musical Equipment | - | 25% straight line |
| Other Equipment | - | 25% straight line |
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Page 9
Reformed Church Zimbabwe - International
Notes to the Financial Statements (continued)
Year ended 31st December 2021
3. Accounting policies (continued)
Impairment of fixed assets (continued)
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Donations and legacies
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2021 | |
| £ | £ | £ | |
| Donations | |||
| Tithes | 34,352 | – | 34,352 |
| Sunday Collection | 34,578 | – | 34,578 |
| Fundraising Donations | 10,860 | 270 | 11,130 |
| Gift Aid | 23,313 | – | 23,313 |
| Other Donations | 105 | – | 105 |
| -------------------------------- | -------------- | -------------------------------- | |
| 103,208 | 270 | 103,478 | |
| ================================ | ============== | ================================ | |
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2020 | |
| £ | £ | £ | |
| Donations | |||
| Tithes | 31,279 | – | 31,279 |
| Sunday Collection | 33,218 | – | 33,218 |
| Fundraising Donations | 5,298 | 120 | 5,418 |
| Gift Aid | 50,389 | – | 50,389 |
| Other Donations | 12,161 | – | 12,161 |
| -------------------------------- | -------------- | -------------------------------- | |
| 132,345 | 120 | 132,465 | |
| ================================ | ============== | ================================ |
5. Charitable activities
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2021 | Funds | 2020 | |
| £ | £ | £ | £ | |
| Delegate fees | 2,519 | 2,519 | 5,527 | 5,527 |
| Fellowship | 8,704 | 8,704 | 16,340 | 16,340 |
| --------------------------- | --------------------------- | --------------------------- | --------------------------- | |
| 11,223 | 11,223 | 21,867 | 21,867 | |
| =========================== | =========================== | =========================== | =========================== |
Page 10
Reformed Church Zimbabwe - International
Notes to the Financial Statements (continued)
Year ended 31st December 2021
6. Other trading activities
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
|---|---|---|---|---|---|
| Funds | 2021 | Funds | 2020 | ||
| £ | £ | £ | £ | ||
| Sale of Merchandise | 1,284 | 1,284 | 1,244 | 1,244 | |
| ======================= | ======================= | ======================= | ======================= | ||
| 7. | Investment income | ||||
| Restricted | Total Funds | Restricted | Total Funds | ||
| Funds | 2021 | Funds | 2020 | ||
| £ | £ | £ | £ | ||
| Bank interest receivable | 3 | 3 | 28 | 28 | |
| ============== | ============== | ============== | ============== | ||
| 8. | Costs of other trading activities | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2021 | Funds | 2020 | ||
| £ | £ | £ | £ | ||
| Cost of Merchandise | 4,084 | 4,084 | 365 | 365 | |
| ======================= | ======================= | ============== | ============== | ||
| 9. | Expenditure on charitable activities | by fund type | |||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2021 | Funds | 2020 | ||
| £ | £ | £ | £ | ||
| Worship | 70,747 | 70,747 | 73,785 | 73,785 | |
| Support costs | 13,437 | 13,437 | 14,789 | 14,789 | |
| --------------------------- | --------------------------- | --------------------------- | --------------------------- | ||
| 84,184 | 84,184 | 88,574 | 88,574 | ||
| =========================== | =========================== | =========================== | =========================== | ||
| 10. | Expenditure on charitable activities | by activity type | |||
| Activities | |||||
| undertaken | Support | Total funds | Total fund | ||
| directly | costs | 2021 | 2020 | ||
| £ | £ | £ | £ | ||
| Worship | 70,747 | 8,093 | 78,840 | 84,749 | |
| Governance costs | – | 5,344 | 5,344 | 3,825 | |
| --------------------------- | --------------------------- | --------------------------- | --------------------------- | ||
| 70,747 | 13,437 | 84,184 | 88,574 | ||
| =========================== | =========================== | =========================== | =========================== | ||
| 11. | Analysis of support costs | ||||
| Worship | Total 2021 | Total 2020 | |||
| £ | £ | £ | |||
| Governance costs | 5,344 | 5,344 | 3,825 | ||
| Donations | 8,093 | 8,093 | 10,964 | ||
| --------------------------- | --------------------------- | --------------------------- | |||
| 13,437 | 13,437 | 14,789 | |||
| =========================== | =========================== | =========================== |
Page 11
Reformed Church Zimbabwe - International
Notes to the Financial Statements (continued)
Year ended 31st December 2021
12. Net income
Net income is stated after charging/(crediting):
| Net income is stated after charging/(crediting): | ||
|---|---|---|
| 2021 | 2020 | |
| £ | £ | |
| Depreciation of tangible fixed assets | 1,249 | 2,265 |
| Foreign exchange differences | 17 | 123 |
| ======================= | ======================= |
13. Independent examination fees
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Fees payable to the independent examiner for: | ||
| Independent examination of the financial statements | 1,560 | 1,560 |
| ======================= | ======================= |
14. Staff costs
The total staff costs and employee benefits for the reporting period are analysed as follows:
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Wages and salaries | 35,482 | 32,682 |
| Employer contributions to pension plans | 690 | 608 |
| --------------------------- | --------------------------- | |
| 36,172 | 33,290 | |
| =========================== | =========================== |
The average head count of employees during the year was 2 (2020: 2). The average number of full-time equivalent employees during the year is analysed as follows:
| 2021 | 2020 | |
|---|---|---|
| No. | No. | |
| Number of pastoral staff | 2 | 2 |
| ============== | ============== |
No employee received employee benefits of more than £60,000 during the year (2020: Nil).
15. Tangible fixed assets
| Computer | Musical | |||
|---|---|---|---|---|
| equipment | equipment Other assets | Total | ||
| £ | £ | £ | £ | |
| Cost | ||||
| At 1st January 2021 | 1,370 | 6,058 | 3,947 | 11,375 |
| Additions | 2,638 | – | – | 2,638 |
| ----------------------- | ----------------------- | ----------------------- | --------------------------- | |
| At 31st December 2021 | 4,008 | 6,058 | 3,947 | 14,013 |
| ======================= | ======================= | ======================= | =========================== | |
| Depreciation | ||||
| At 1st January 2021 | 1,353 | 5,486 | 3,947 | 10,786 |
| Charge for the year | 677 | 572 | – | 1,249 |
| ----------------------- | ----------------------- | ----------------------- | --------------------------- | |
| At 31st December 2021 | 2,030 | 6,058 | 3,947 | 12,035 |
| ======================= | ======================= | ======================= | =========================== | |
| Carrying amount | ||||
| At 31st December 2021 | 1,978 | – | – | 1,978 |
| ======================= | ======================= | ======================= | =========================== | |
| At 31st December 2020 | 17 | 572 | – | 589 |
| ======================= | ======================= | ======================= | =========================== |
Page 12
Reformed Church Zimbabwe - International
Notes to the Financial Statements (continued)
Year ended 31st December 2021
16. Debtors
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Prepayments and accrued income | 23,313 | 23,293 |
| Other debtors | 2,101 | 1,581 |
| --------------------------- | --------------------------- | |
| 25,414 | 24,874 | |
| =========================== | =========================== | |
| Creditors: amounts falling due within one year | ||
| 2021 | 2020 | |
| £ | £ | |
| Accruals and deferred income | 1,620 | 1,562 |
| Social security and other taxes | 2,991 | 1,291 |
| Pension control | 151 | 134 |
| ----------------------- | ----------------------- | |
| 4,762 | 2,987 | |
| ======================= | ======================= |
17. Creditors: amounts falling due within one year
18. Pensions and other post retirement benefits
Defined contribution plans
The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £690 (2020: £608).
Page 13
Reformed Church Zimbabwe - International
Notes to the Financial Statements (continued)
Year ended 31st December 2021
19. Analysis of charitable funds
Unrestricted funds
| Unrestricted funds | ||||
|---|---|---|---|---|
| At | At | |||
| 1st January | 31st December | |||
| 2021 | Income Expenditure | 2021 | ||
| £ | £ | £ | £ | |
| General funds | 97,749 | 115,715 | (88,267) | 125,197 |
| =========================== | ================================ | =========================== | ================================ | |
| At | At | |||
| 1st January | 31st December | |||
| 2020 | Income Expenditure | 2020 | ||
| £ | £ | £ | £ | |
| General funds | 31,232 | 155,456 | (88,939) | 97,749 |
| =========================== | ================================ | =========================== | =========================== | |
| Restricted funds | ||||
| At | At | |||
| 1st January | 31st December | |||
| 2021 | Income Expenditure | 2021 | ||
| £ | £ | £ | £ | |
| Building fund | 28,990 | 273 | – | 29,263 |
| =========================== | ============== | ============== | =========================== | |
| At | At | |||
| 1st January | 31st December | |||
| 2020 | Income Expenditure | 2020 | ||
| £ | £ | £ | £ | |
| Building fund | 28,842 | 148 | – | 28,990 |
| =========================== | ============== | ============== | =========================== | |
| Analysis of net assets between funds | ||||
| Unrestricted | Restricted | Total Funds | ||
| Funds | Funds | 2021 | ||
| £ | £ | £ | ||
| Tangible fixed assets | 1,978 | – | 1,978 | |
| Current assets | 126,362 | 30,881 | 157,243 | |
| Creditors less than 1 year | (4,762) | – | (4,762) | |
| -------------------------------- | --------------------------- | -------------------------------- | ||
| Net assets | 123,578 | 30,881 | 154,459 | |
| ================================ | =========================== | ================================ | ||
| Unrestricted | Restricted | Total Funds | ||
| Funds | Funds | 2020 | ||
| £ | £ | £ | ||
| Tangible fixed assets | 589 | – | 589 | |
| Current assets | 100,146 | 28,991 | 129,137 | |
| Creditors less than 1 year | (2,987) | – | (2,987) | |
| -------------------------------- | --------------------------- | -------------------------------- | ||
| Net assets | 97,748 | 28,991 | 126,739 | |
| ================================ | =========================== | ================================ |
20. Analysis of net assets between funds
Page 14
Reformed Church Zimbabwe - International
Management Information
Year ended 31st December 2021
The following pages do not form part of the financial statements.
Page 15
Reformed Church Zimbabwe - International
Detailed Statement of Financial Activities
Year ended 31st December 2021
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Income and endowments | ||
| Donations and legacies | ||
| Tithes | 34,352 | 31,279 |
| Sunday Collection | 34,578 | 33,218 |
| Fundraising Donations | 11,130 | 5,418 |
| Gift Aid | 23,313 | 50,389 |
| Other Donations | 105 | 12,161 |
| -------------------------------- | -------------------------------- | |
| 103,478 | 132,465 | |
| -------------------------------- | -------------------------------- | |
| Charitable activities | ||
| Delegate fees | 2,519 | 5,527 |
| Fellowship | 8,704 | 16,340 |
| --------------------------- | --------------------------- | |
| 11,223 | 21,867 | |
| --------------------------- | --------------------------- | |
| Other trading activities | ||
| Sale of Merchandise | 1,284 | 1,244 |
| ----------------------- | ----------------------- | |
| Investment income | ||
| Bank interest receivable | 3 | 28 |
| -------------- | -------------- | |
| -------------------------------- | -------------------------------- | |
| Total income | 115,988 | 155,604 |
| ================================ | ================================ | |
| Expenditure | ||
| Costs of other trading activities | ||
| Expenditure on charitable activities | ||
| Wages and salaries | 35,482 | 32,682 |
| Pension costs | 690 | 608 |
| Rates and water | 610 | 3,604 |
| Light and heat | 14,280 | 14,280 |
| Other motor/travel costs | – | 4,888 |
| Legal and professional fees | 4,761 | 2,052 |
| Telephone | 1,544 | 197 |
| Depreciation | 1,249 | 2,265 |
| Foreign exchange gain/loss | 17 | 123 |
| Sundry expenses | 12,183 | 12,987 |
| Contributions to Affiliate | 5,398 | 1,169 |
| Synod tickets | – | 2,442 |
| Conference costs | 370 | 8,077 |
| Pastoral care | 7,600 | 3,200 |
| -------------------------------- | -------------------------------- | |
| 84,184 | 88,574 | |
| -------------------------------- | -------------------------------- | |
| --------------------------- | --------------------------- | |
| Total expenditure | 88,268 | 88,939 |
| =========================== | =========================== |
Page 16
Reformed Church Zimbabwe - International
Detailed Statement of Financial Activities (continued)
Year ended 31st December 2021
Net income
2021 2020 £ £ ----------------------------------------------------- 27,720 66,665 =========================== ===========================
Page 17
Reformed Church Zimbabwe - International
Notes to the Detailed Statement of Financial Activities
Year ended 31st December 2021
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Costs of other trading activities | ||
| Cost of Merchandise | ||
| Cost of Merchandise | 4,084 | 365 |
| ----------------------- | -------------- | |
| ----------------------- | -------------- | |
| Costs of other trading activities | 4,084 | 365 |
| ======================= | ============== | |
| Expenditure on charitable activities | ||
| Worship | ||
| Activities undertaken directly | ||
| Wages and salaries | 35,482 | 32,682 |
| Pension costs | 690 | 608 |
| Branch rent | 610 | 3,604 |
| Pastoral residences | 14,280 | 14,280 |
| Travel and subsistence | – | 4,888 |
| Payroll administration costs | 666 | 492 |
| Telephone | 1,544 | 197 |
| Bank Charges | 17 | 123 |
| Sundry expenses | 4,090 | 2,023 |
| Contributions to Affiliate | 5,398 | 1,169 |
| Synod tickets | – | 2,442 |
| Conference Costs | 370 | 8,077 |
| Pastoral care | 7,600 | 3,200 |
| --------------------------- | --------------------------- | |
| 70,747 | 73,785 | |
| --------------------------- | --------------------------- | |
| Support costs | ||
| Donations | 8,093 | 10,964 |
| ----------------------- | --------------------------- | |
| Governance costs | ||
| Governance costs - accountancy fees | 1,620 | 1,560 |
| Governance costs - legal and other professional fees | 2,475 | – |
| Governance costs - depreciation | 1,249 | 2,265 |
| ----------------------- | ----------------------- | |
| 5,344 | 3,825 | |
| ----------------------- | ----------------------- | |
| --------------------------- | --------------------------- | |
| Expenditure on charitable activities | 84,184 | 88,574 |
| =========================== | =========================== |