CHARITY REGISTRATION NUMBER: 1138719
Reformed Church International - United Kingdom Unaudited Financial Statements 31st December 2022
MR A A B GRAINGER FCA OF
Griffiths & Pegg Limited Chartered Accountants 3 Hagley Court South Waterfront East Level Street Brierley Hill West Midlands DY5 1XE
Reformed Church International - United Kingdom
Financial Statements
Year ended 31st December 2022
| Pages | |
|---|---|
| Trustees' annual report | 1 to 4 |
| Independent examiner's report to the trustees | 5 |
| Statement of financial activities | 6 |
| Statement of financial position | 7 |
| Notes to the financial statements | 8 to 14 |
| The following pages do not form part of the financial | statements |
| Detailed statement of financial activities | 16 |
| Notes to the detailed statement of financial activities | 17 |
Page 1
Reformed Church International - United Kingdom
Trustees' Annual Report
Year ended 31st December 2022
Objectives and activities
The charity's aim and objective is to worship God, exemplify and further his teachings for the benefit of the church community and the greater public in accordance with the Reformed Church International’s statement of beliefs.
This is achieved through enabling and encouraging the worship of God through Jesus Christ by the holding of public celebrations of services, prayer meetings and Christian conferences whilst providing opportunities for the mission and Christian Evangelism.
We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities.
Achievements and performance
Year 2022 has been a great milestone in our history as the church congregation managed to grow significantly and membership has decided that the congregation needs to grow into two congregations in the United Kingdom. Our services continue to be rated highly by our stakeholders and such rating and delivery of key targets is testament to the hard work and dedication of all the church membership and volunteers who have all contributed to the continued success of the church. Ensuring that the church meet all the targets and deliver the best care possible has been a challenge that all our members have admirably undertaken from the beginning.
The membership of the Reformed Church International continues to grow steadily. The preaching points have remained intact as members and visitors have stepped up meetings every Sundays at local preaching posts in addition to the well-attended Big Sundays’ gatherings held monthly. Holy Communion and Baptism continue to dominate events at our quarterly combined Big Sundays with fellowship groups i.e. Prayer Warriors, Couples, Youth, Men, Women, Singles and Children also organising and running successful events and meetings throughout the year.
In the spirit of continuous improvement, the church has reviewed and refreshed its governance arrangements under the guidance of two Reverends, residing and overseeing the church activities with branches in the Southern and Northern regions of England.
Sharper focus on the IT and the website has enabled changes and awareness to ensure we are maximising the benefits of new technology and better use of our existing resources. The church has continued to develop the website hence its invaluable contribution to a steady rise of our Christian membership - www.rczi.org.uk. Utilising the free charity Microsoft 365 provision has enabled secure processing of personal information.
Page 2
Reformed Church International - United Kingdom
Trustees' Annual Report
Year ended 31st December 2022
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.
The charity changed its name in the year to Reformed Church International - United Kingdom.
Page 3
Reformed Church International - United Kingdom
Trustees' Annual Report (continued)
Year ended 31st December 2022
Reference and administrative details Registered charity name Charity registration number Principal office
Reformed Church International - United Kingdom
1138719
High Street Lye Stourbridge Birmingham DY9 8LF
The trustees
Rev S Chizhande Mr B Sibanda Mr E Maradza (Retired 24th November 2022) Mrs A Ncube (Retired 24th November 2022) Mr T Chiketa Mr T Simbi Mrs L Murazvu (Retired 24th November 2022) Mr F Maruzani (Retired 24th November 2022) Mr A Seka (Retired 24th November 2022) Mr V Matamba (Retired 24th November 2022) Mrs R Makombe (Retired 24th November 2022) Mr V Muzombi (Retired 24th November 2022) Mrs R Bennett (Retired 24th November 2022) Miss L Muzvidziwa (Retired 24th November 2022) Mr D Mugwangi Mrs G Mtetwa (Retired 24th November 2022) Mr N Tauchira (Retired 24th November 2022) Mr N Chikoti (Retired 24th November 2022) Mrs T Mushango (Retired 24th November 2022) Mrs G Mandivenga (Retired 24th November 2022) Mrs P Mapfumi (Retired 24th November 2022) Mrs E Manunure (Retired 24th November 2022) Mrs J Makoni (Retired 24th November 2022) Mrs E Adaarewa (Retired 24th November 2022) Mrs L Mavurayi (Retired 24th November 2022) Mr T Zhakata (Retired 24th November 2022) Mrs E Buzuzi (Appointed 1st January 2022) Mr J Kuzipa (Appointed 1st January 2022) Mr M Masaraure (Appointed 1st January 2022) Mr N Wande (Appointed 1st January 2022) Mr P Makiwa (Appointed 1st January 2022) Mrs P Chaduka (Appointed 1st January 2022)
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 4
Reformed Church International - United Kingdom
Trustees' Annual Report (continued)
Year ended 31st December 2022
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. We are involved in charity activities and both local and national level helping members with both spiritual and material support.
The trustees’ annual report was approved on 20th November 2023 and signed on behalf of the board of trustees by:
Mr T Simbi Trustee
Page 5
Reformed Church International - United Kingdom
Independent Examiner's Report to the Trustees of Reformed Church International - United Kingdom
Year ended 31st December 2022
I report to the trustees on my examination of the financial statements of Reformed Church International - United Kingdom ('the charity') for the year ended 31st December 2022.
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
20th November 2023
Page 6
Reformed Church International - United Kingdom
Statement of Financial Activities
Year ended 31st December 2022
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | ||||
| funds | funds | Total funds | Total funds | ||
| Note | £ | £ | £ | £ | |
| Income and endowments | |||||
| Donations and legacies | 4 | 89,580 | 120 | 89,700 | 103,478 |
| Charitable activities | 5 | 8,358 | – | 8,358 | 11,223 |
| Other trading activities | 6 | 1,592 | – | 1,592 | 1,284 |
| Investment income | 7 | – | 58 | 58 | 3 |
| --------------------------- | -------------- | --------------------------- | -------------------------------- | ||
| Total income | 99,530 | 178 | 99,708 | 115,988 | |
| =========================== | ============== | =========================== | ================================ | ||
| Expenditure | |||||
| Expenditure on raising funds: | |||||
| Costs of other trading activities | 8 | 1,445 | – | 1,445 | 4,084 |
| Expenditure on charitable activities | 9,10 | 109,918 | – | 109,918 | 84,184 |
| -------------------------------- | -------------- | -------------------------------- | -------------------------------- | ||
| Total expenditure | 111,363 | – | 111,363 | 88,268 | |
| ================================ | ============== | ================================ | ================================ | ||
| -------------------------------- | -------------- | -------------------------------- | -------------------------------- | ||
| Net (expenditure)/income and net | |||||
| movement in funds | (11,833) | 178 | (11,655) | 27,720 | |
| ================================ | ============== | ================================ | ================================ | ||
| Reconciliation of funds | |||||
| Total funds brought forward | 125,197 | 29,263 | 154,460 | 126,739 | |
| -------------------------------- | --------------------------- | -------------------------------- | -------------------------------- | ||
| Total funds carried forward | 113,364 | 29,441 | 142,805 | 154,460 | |
| ================================ | =========================== | ================================ | ================================ |
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 8 to 14 form part of these financial statements.
Page 7
Reformed Church International - United Kingdom
Statement of Financial Position
31st December 2022
| 2022 | 2021 | |||
|---|---|---|---|---|
| Note | £ | £ | £ | |
| Fixed assets | ||||
| Tangible fixed assets | 16 | 1,318 | 1,978 | |
| Current assets | ||||
| Debtors | 17 | 2,776 | 25,414 | |
| Cash at bank and in hand | 142,395 | 131,829 | ||
| -------------------------------- | -------------------------------- | |||
| 145,171 | 157,243 | |||
| Creditors: amounts falling due within one year | 18 | (3,684) | (4,762) | |
| -------------------------------- | -------------------------------- | |||
| Net current assets | 141,487 | 152,481 | ||
| -------------------------------- | -------------------------------- | |||
| Total assets less current liabilities | 142,805 | 154,459 | ||
| -------------------------------- | -------------------------------- | |||
| Net assets | 142,805 | 154,459 | ||
| ================================ | ================================ | |||
| Funds of the charity | ||||
| Restricted funds | 29,442 | 29,263 | ||
| Unrestricted funds | 113,363 | 125,197 | ||
| -------------------------------- | -------------------------------- | |||
| Total charity funds | 20 | 142,805 ================================ |
154,460 ================================ |
These financial statements were approved by the board of trustees and authorised for issue on 20th November 2023, and are signed on behalf of the board by:
Mr T Simbi Trustee
The notes on pages 8 to 14 form part of these financial statements.
Page 8
Reformed Church International - United Kingdom
Notes to the Financial Statements
Year ended 31st December 2022
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 9
Reformed Church International - United Kingdom
Notes to the Financial Statements (continued)
Year ended 31st December 2022
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 10
Reformed Church International - United Kingdom
Notes to the Financial Statements (continued)
Year ended 31st December 2022
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 | 2022 | |
| £ | £ | £ | |
| Donations | |||
| Tithes | 35,687 | 120 | 35,807 |
| Sunday Collection | 32,298 | – | 32,298 |
| Fundraising Donations | 5,066 | – | 5,066 |
| Gift Aid | – | – | – |
| Other Donations | 16,529 | – | 16,529 |
| --------------------------- | -------------- | --------------------------- | |
| 89,580 | 120 | 89,700 | |
| =========================== | ============== | =========================== | |
| 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 | |
| ================================ | ============== | ================================ |
5. Charitable activities
| Charitable activities | ||||
|---|---|---|---|---|
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
| Funds | 2022 | Funds | 2021 | |
| £ | £ | £ | £ | |
| Delegate fees | 8,193 | 8,193 | 2,519 | 2,519 |
| Fellowship | 165 | 165 | 8,704 | 8,704 |
| ----------------------- | ----------------------- | --------------------------- | --------------------------- | |
| 8,358 | 8,358 | 11,223 | 11,223 | |
| ======================= | ======================= | =========================== | =========================== |
Page 11
Reformed Church International - United Kingdom
Notes to the Financial Statements (continued)
Year ended 31st December 2022
6. Other trading activities
| Other trading activities | ||||
|---|---|---|---|---|
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
| Funds | 2022 | Funds | 2021 | |
| £ | £ | £ | £ | |
| Sale of Merchandise | 1,592 | 1,592 | 1,284 | 1,284 |
| ======================= | ======================= | ======================= | ======================= | |
| Investment income | ||||
| Restricted | Total Funds | Restricted | Total Funds | |
| Funds | 2022 | Funds | 2021 | |
| £ | £ | £ | £ | |
| Bank interest receivable | 58 | 58 | 3 | 3 |
| ============== | ============== | ============== | ============== | |
| Costs of other trading activities | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
| Funds | 2022 | Funds | 2021 | |
| £ | £ | £ | £ | |
| Cost of Merchandise | 1,445 | 1,445 | 4,084 | 4,084 |
| ======================= | ======================= | ======================= | ======================= | |
| Expenditure on charitable activities | by fund type | |||
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
| Funds | 2022 | Funds | 2021 | |
| £ | £ | £ | £ | |
| Worship | 106,483 | 106,483 | 70,747 | 70,747 |
| Support costs | 3,435 | 3,435 | 13,437 | 13,437 |
| -------------------------------- | -------------------------------- | --------------------------- | --------------------------- | |
| 109,918 | 109,918 | 84,184 | 84,184 | |
| ================================ | ================================ | =========================== | =========================== | |
| Expenditure on charitable activities | by activity type | |||
| Activities | ||||
| undertaken | Support | Total funds | Total fund | |
| directly | costs | 2022 | 2021 | |
| £ | £ | £ | £ | |
| Worship | 106,483 | 1,095 | 107,578 | 78,840 |
| Governance costs | – | 2,340 | 2,340 | 5,344 |
| -------------------------------- | ----------------------- | -------------------------------- | --------------------------- | |
| 106,483 | 3,435 | 109,918 | 84,184 | |
| ================================ | ======================= | ================================ | =========================== | |
| Analysis of support costs | ||||
| Total 2022 | Total 2021 | |||
| £ | £ | |||
| Governance costs | 2,340 | 5,344 | ||
| Donations | 1,095 | 8,093 | ||
| -------------- | --------------------------- | |||
| 3,435 ============== |
13,437 =========================== |
7. Investment income
8. Costs of other trading activities
9. Expenditure on charitable activities by fund type
10. Expenditure on charitable activities by activity type
11. Analysis of support costs
Page 12
Reformed Church International - United Kingdom
Notes to the Financial Statements (continued)
Year ended 31st December 2022
12. Net (expenditure)/income
Net (expenditure)/income is stated after charging/(crediting):
| Net (expenditure)/income is stated after charging/(crediting): | ||
|---|---|---|
| 2022 | 2021 | |
| £ | £ | |
| Depreciation of tangible fixed assets | 660 | 1,249 |
| Foreign exchange differences | 502 | 17 |
| ============== | ======================= | |
| Independent examination fees | ||
| 2022 | 2021 | |
| £ | £ | |
| Fees payable to the independent examiner for: | ||
| Independent examination of the financial statements | 1,680 | 1,620 |
| ============== | ======================= |
13. Independent examination fees
14. Staff costs
The total staff costs and employee benefits for the reporting period are analysed as follows:
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Wages and salaries | 35,082 | 35,482 |
| Employer contributions to pension plans | 734 | 690 |
| --------------------------- | --------------------------- | |
| 35,816 =========================== |
36,172 =========================== |
The average head count of employees during the year was 2 (2021: 2). The average number of full-time equivalent employees during the year is analysed as follows:
| 2022 | 2021 | |
|---|---|---|
| No. | No. | |
| Number of pastoral staff | 2 | 2 |
| ============== | ============== |
No employee received employee benefits of more than £60,000 during the year (2021: Nil).
15. Trustee remuneration and expenses
One or more trustees has been paid remuneration or received other benefits from employment with the charity or a related entity.
One or more trustees has claimed expenses or had their expenses met by the charity.
Page 13
Reformed Church International - United Kingdom
Notes to the Financial Statements (continued)
Year ended 31st December 2022
16. Tangible fixed assets
| Tangible fixed assets | ||||
|---|---|---|---|---|
| Computer | Musical | |||
| equipment | equipment Other assets | Total | ||
| £ | £ | £ | £ | |
| Cost | ||||
| At 1st January 2022 and | ||||
| 31st December 2022 | 4,008 | 6,058 | 3,947 | 14,013 |
| ======================= | ======================= | ======================= | =========================== | |
| Depreciation | ||||
| At 1st January 2022 | 2,030 | 6,058 | 3,947 | 12,035 |
| Charge for the year | 660 | – | – | 660 |
| ----------------------- | ----------------------- | ----------------------- | --------------------------- | |
| At 31st December 2022 | 2,690 | 6,058 | 3,947 | 12,695 |
| ======================= | ======================= | ======================= | =========================== | |
| Carrying amount | ||||
| At 31st December 2022 | 1,318 | – | – | 1,318 |
| ======================= | ======================= | ======================= | =========================== | |
| At 31st December 2021 | 1,978 | – | – | 1,978 |
| ======================= | ======================= | ======================= | =========================== | |
| Debtors | ||||
| 2022 | 2021 | |||
| £ | £ | |||
| Prepayments and accrued income | – | 23,313 | ||
| Other debtors | 2,776 | 2,101 | ||
| ----------------------- | --------------------------- | |||
| 2,776 | 25,414 | |||
| ======================= | =========================== | |||
| Creditors: amounts falling due within | one year | |||
| 2022 | 2021 | |||
| £ | £ | |||
| Accruals and deferred income | 1,620 | 1,620 | ||
| Social security and other taxes | 1,911 | 2,991 | ||
| Pension control | 153 | 151 | ||
| ----------------------- | ----------------------- | |||
| 3,684 | 4,762 | |||
| ======================= | ======================= |
17. Debtors
18. Creditors: amounts falling due within one year
19. 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 £734 (2021: £690).
Page 14
Reformed Church International - United Kingdom
Notes to the Financial Statements (continued)
Year ended 31st December 2022
20. Analysis of charitable funds
Unrestricted funds
| Unrestricted funds | ||||
|---|---|---|---|---|
| At | At | |||
| 1st January | 31st December | |||
| 2022 | Income | Expenditure | 2022 | |
| £ | £ | £ | £ | |
| General funds | 125,197 | 99,530 | (111,364) | 113,363 |
| ================================ | =========================== | ================================ | ================================ | |
| At | At | |||
| 1st January | 31st December | |||
| 2021 | Income | Expenditure | 2021 | |
| £ | £ | £ | £ | |
| General funds | 97,749 | 115,715 | (88,267) | 125,197 |
| =========================== | ================================ | =========================== | ================================ | |
| Restricted funds | ||||
| At | At | |||
| 1st January | 31st December | |||
| 2022 | Income | Expenditure | 2022 | |
| £ | £ | £ | £ | |
| Building fund | 29,263 | 179 | – | 29,442 |
| =========================== | ============== | ============== | =========================== | |
| At | At | |||
| 1st January | 31st December | |||
| 2021 | Income | Expenditure | 2021 | |
| £ | £ | £ | £ | |
| Building fund | 28,990 | 273 | – | 29,263 |
| =========================== | ============== | ============== | =========================== | |
| Analysis of net assets between funds | ||||
| Unrestricted | Restricted | Total Funds | ||
| Funds | Funds | 2022 | ||
| £ | £ | £ | ||
| Tangible fixed assets | 1,318 | – | 1,318 | |
| Current assets | 114,111 | 31,060 | 145,171 | |
| Creditors less than 1 year | (3,684) | – | (3,684) | |
| -------------------------------- | --------------------------- | -------------------------------- | ||
| Net assets | 111,745 | 31,060 | 142,805 | |
| ================================ | =========================== | ================================ | ||
| 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 | |
| ================================ | =========================== | ================================ |
21. Analysis of net assets between funds
Page 15
Reformed Church International - United Kingdom
Management Information
Year ended 31st December 2022
The following pages do not form part of the financial statements.
Page 16
Reformed Church International - United Kingdom
Detailed Statement of Financial Activities
Year ended 31st December 2022
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Income and endowments | ||
| Donations and legacies | ||
| Tithes | 35,807 | 34,352 |
| Sunday Collection | 32,298 | 34,578 |
| Fundraising Donations | 5,066 | 11,130 |
| Gift Aid | – | 23,313 |
| Other Donations | 16,529 | 105 |
| --------------------------- | -------------------------------- | |
| 89,700 | 103,478 | |
| --------------------------- | -------------------------------- | |
| Charitable activities | ||
| Delegate fees | 8,193 | 2,519 |
| Fellowship | 165 | 8,704 |
| ----------------------- | --------------------------- | |
| 8,358 | 11,223 | |
| ----------------------- | --------------------------- | |
| Other trading activities | ||
| Sale of Merchandise | 1,592 | 1,284 |
| ----------------------- | ----------------------- | |
| Investment income | ||
| Bank interest receivable | 58 | 3 |
| -------------- | -------------- | |
| --------------------------- | -------------------------------- | |
| Total income | 99,708 | 115,988 |
| =========================== | ================================ | |
| Expenditure | ||
| Costs of other trading activities | ||
| Expenditure on charitable activities | ||
| Wages and salaries | 35,082 | 35,482 |
| Pension costs | 734 | 690 |
| Rates and water | 2,175 | 610 |
| Light and heat | 14,280 | 14,280 |
| Legal and professional fees | 2,106 | 4,761 |
| Telephone | 2,000 | 1,544 |
| Depreciation | 660 | 1,249 |
| Foreign exchange gain/loss | 502 | 17 |
| Sundry expenses | 26,897 | 12,183 |
| Contributions to Affiliate | 943 | 5,398 |
| Conference costs | 17,339 | 370 |
| Pastoral care | 7,200 | 7,600 |
| -------------------------------- | -------------------------------- | |
| 109,918 | 84,184 | |
| -------------------------------- | -------------------------------- | |
| -------------------------------- | --------------------------- | |
| Total expenditure | 111,363 | 88,268 |
| ================================ | =========================== | |
| -------------------------------- | --------------------------- | |
| Net (expenditure)/income | (11,655) | 27,720 |
| ================================ | =========================== |
Page 17
Reformed Church International - United Kingdom
Notes to the Detailed Statement of Financial Activities
Year ended 31st December 2022
| Year ended 31st December | 2022 | |
|---|---|---|
| 2022 | 2021 | |
| £ | £ | |
| Costs of other trading activities | ||
| Cost of Merchandise | ||
| Cost of Merchandise | 1,445 | 4,084 |
| ----------------------- | ----------------------- | |
| ----------------------- | ----------------------- | |
| Costs of other trading activities | 1,445 | 4,084 |
| ======================= | ======================= | |
| Expenditure on charitable activities | ||
| Worship | ||
| Activities undertaken directly | ||
| Wages and salaries | 35,082 | 35,482 |
| Pension costs | 734 | 690 |
| Branch rent | 2,175 | 610 |
| Pastoral residences | 14,280 | 14,280 |
| Payroll administration costs | 426 | 666 |
| Telephone | 2,000 | 1,544 |
| Bank Charges | 502 | 17 |
| Sundry expenses | 25,802 | 4,090 |
| Contributions to Affiliate | 943 | 5,398 |
| Conference Costs | 17,339 | 370 |
| Pastoral care | 7,200 | 7,600 |
| -------------------------------- | --------------------------- | |
| 106,483 | 70,747 | |
| -------------------------------- | --------------------------- | |
| Support costs | ||
| Donations | 1,095 | 8,093 |
| ----------------------- | ----------------------- | |
| Governance costs | ||
| Governance costs - accountancy fees | 1,680 | 1,620 |
| Governance costs - legal and other professional fees | – | 2,475 |
| Governance costs - depreciation | 660 | 1,249 |
| ----------------------- | ----------------------- | |
| 2,340 | 5,344 | |
| ----------------------- | ----------------------- | |
| -------------------------------- | --------------------------- | |
| Expenditure on charitable activities | 109,918 | 84,184 |
| ================================ | =========================== |