REGISTERED COMPANY NUMBER: 07478903 (England and Wales) REGISTERED CHARITY NUMBER: 1139924
Report of the Trustees and Financial Statements for the year ended 31 December 2020
## **RCCG CITY OF GRACE PETERBOROUGH**
DTT Consultancy Ltd 36 Daffodil Close Hatfield Hertfordshire AL10 9FF
**RCCG CITY OF GRACE PETERBOROUGH** Contents of the Financial Statements
## **For the year ended 31 December 2020**
||Page|
|---|---|
|Report of the Trustees|1 to 2|
|Independent Examiner's Report|3|
|Statement of Financial Activities|4|
|Balance Sheet|5 to 6|
|Notes to the Financial Statements|7 to 9|
|Detailed Statement of Financial Activities|10 to 11|
## **RCCG CITY OF GRACE PETERBOROUGH**
Report of the Trustees For the year ended 31 December 2020
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2020. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities' issued in March 2005.
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number**
07478903 (England and Wales)
**Registered Charity number** 1139924
## **Registered office**
105 WELLINGTON STREET PETERBOROUGH CAMBRIDGESHIRE UNITED KINGDOM PE1 5DU
## **Trustees**
1. Mr Adediran Gabriel Ajayi 2. Mr. Oladapo Adegoke 3. Mr. Adekunle Adenuga 4. Pastor Vincent Tokunbo Ibikunle **Company Secretary** Mr. Oladapo Adegoke
## **Independent Examiner**
DTT Consultancy Limited 36 Daffodil Close Hatfield Herts AL10 9FF
## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document**
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
## **Organisational structure**
The church is organised so that the trustees meet regularly to manage its affairs. There is a full-time office administrator, who manages the day to day administrations of the church. **Related parties**
RCCG-City of Grace is a member of Redeemed Christian Church of God (RCCG) which has Parishes all over the world. The relationship is governed by an Agreement for common purposes between the Parishes and RCCG. **Risk management**
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
Page 1
## **RCCG CITY OF GRACE PETERBOROUGH**
Report of the Trustees For the year ended 31 December 2020
## **FINANCIAL REVIEW**
## **Reserves policy**
The net incoming resources for the year amounted to £166,607. All these have been unrestricted reserves and no fund is allocated to restricted project.
The trustees have established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets should be transferred to reserves.
The free reserves held by the church should be 3 months of annual expenditure. At this level, the trustees feel that would be able to continue the current activities of the church in the event of significant drop in funding.
## **Principal funding sources**
This is provided mainly through voluntary tithes and offerings by the church members and through gift aid scheme. Pledges are also taken for specific projects.
## **FUTURE DEVELOPMENTS**
The church will continue to explore various ways of spreading the gospel of Christ in an effective manner. The charity is also looking to grow in membership and continue to develop its members to make life - changing impact in society, plant more parishes and due to the increase in the number of members, our future plan is to accommodate those members and likely additional.
## **STATEMENT OF TRUSTEES RESPONSIBILITIES**
The trustees (who are also the directors of RCCG - City of Grace for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice.
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charity SORP;
- make judgements and estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
## **ON BEHALF OF THE BOARD:**
Date10th Mar 2021
Mr Adediran Gabriel Ajayi
Page 2
## **Independent Examiner's Report to the Trustees of RCCG CITY OF GRACE PETERBOROUGH For the year ended 31 December 2020**
I report on the accounts for the year ended 31 December 2020 set out on pages four to nine. Respective responsibilities of trustees and examiner
The charity's trustees (who are also the directors for the purposes of company law) are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year (under Section 43(2) of the Charities Act 1993 (the 1993 Act)) and that an independent examination is required. The charity's gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of FCCA. Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:
- examine the accounts under Section 43 of the 1993 Act
- to follow the procedures laid down in the General Directions given by the Charity Commission (under Section 43(7)(b) of the 1993 Act); and
- to state whether particular matters have come to my attention.
## **Basis of the independent examiner's report**
My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair view ' and the report is limited to those matters set out in the statements below. Independent examiner's statement
In connection with my examination, no matter has come to my attention:
(1) which gives me reasonable cause to believe that, in any material respect, the requirements
- to keep accounting records in accordance with Section 386 and 387 of the Companies Act 2006; and
- to prepare accounts which accord with the accounting records, comply with the accounting requirements of Sections 394 and 395 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities have not been met; or
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
DTT Consultancy Limited 36 Daffodil Close Hatfield Herts AL10 9FF
Date: 8th Mar 2021
Page 3
## **RCCG CITY OF GRACE PETERBOROUGH**
Statement of Financial Activities
## **For the year ended 31 December 2020**
|Notes
**INCOMING RESOURCES**
**Incoming resources from generated funds**
Voluntary income
Gift Aid
2
Furlough Pay
Grant
**Total incoming resources**
**RESOURCES EXPENDED**
Charitable activities
Cost of generating income
Governance costs
**Total resources expended**
**NET INCOMING RESOURCES**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**TOTAL FUNDS CARRIED FORWARD**|**2020**
**2020**
**2020**
**2019**
**Unrestricted Restricted**
**Total**
**Total**
**Funds**
**Funds**
**Funds**
**Funds**
£
£
£
£
372,053
372,053
231,463
44,997
44,997
47,325
48,124
48,124
-
25,000
25,000|
|---|---|
||**490,174**
**-**
**490,174**
**278,788**|
||29,421
29,421
90,185
143,163
143,163
155,074|
||**172,584**
**172,584**
**245,258**|
||**317,590**
**-**
**317,590**
**33,530**
158,552
158,552
125,024|
||**476,142**
**-**
**476,142**
**158,552**|
Page 4
## **RCCG CITY OF GRACE PETERBOROUGH**
## Balance Sheet
## **As At 31 December 2020**
|**2020**
**2020**
**2020**
**2019**
Unrestricted Unrestricted
Total
Total
Funds
Funds
Funds
Funds
Notes
£
£
£
£
**FIXED ASSETS**
Tangible assets
5
**711,451**
**242,005**
**CURRENT ASSETS**
Debtors
6
2,500
2,000
Cash in hand
16,472
32,631
**Total Current Asset**
**18,972**
**34,631**
**Less Current Liabilities**
Amounts falling due within one year
7
-31,850
10,830
**Net Current Assets (liabilites)**
**-12,878**
**23,801**
**Total Assets less Current Lialibilities**
698,573
265,806
**Less**
Amounts falling due after more than one year
8
222,431
107,254
**NET ASSETS**
**476,142**
**158,552**
**FUNDS**
9
Unrestricted funds
476,142
158,552
Restricted funds
0
0
**TOTAL FUNDS**
**476,142**
**158,552**|**2020**
**2020**
**2020**
**2019**
Unrestricted Unrestricted
Total
Total
Funds
Funds
Funds
Funds
Notes
£
£
£
£
**FIXED ASSETS**
Tangible assets
5
**711,451**
**242,005**
**CURRENT ASSETS**
Debtors
6
2,500
2,000
Cash in hand
16,472
32,631
**Total Current Asset**
**18,972**
**34,631**
**Less Current Liabilities**
Amounts falling due within one year
7
-31,850
10,830
**Net Current Assets (liabilites)**
**-12,878**
**23,801**
**Total Assets less Current Lialibilities**
698,573
265,806
**Less**
Amounts falling due after more than one year
8
222,431
107,254
**NET ASSETS**
**476,142**
**158,552**
**FUNDS**
9
Unrestricted funds
476,142
158,552
Restricted funds
0
0
**TOTAL FUNDS**
**476,142**
**158,552**|**2020**
**2020**
**2020**
**2019**
Unrestricted Unrestricted
Total
Total
Funds
Funds
Funds
Funds
Notes
£
£
£
£
**FIXED ASSETS**
Tangible assets
5
**711,451**
**242,005**
**CURRENT ASSETS**
Debtors
6
2,500
2,000
Cash in hand
16,472
32,631
**Total Current Asset**
**18,972**
**34,631**
**Less Current Liabilities**
Amounts falling due within one year
7
-31,850
10,830
**Net Current Assets (liabilites)**
**-12,878**
**23,801**
**Total Assets less Current Lialibilities**
698,573
265,806
**Less**
Amounts falling due after more than one year
8
222,431
107,254
**NET ASSETS**
**476,142**
**158,552**
**FUNDS**
9
Unrestricted funds
476,142
158,552
Restricted funds
0
0
**TOTAL FUNDS**
**476,142**
**158,552**|**2020**
**2020**
**2020**
**2019**
Unrestricted Unrestricted
Total
Total
Funds
Funds
Funds
Funds
Notes
£
£
£
£
**FIXED ASSETS**
Tangible assets
5
**711,451**
**242,005**
**CURRENT ASSETS**
Debtors
6
2,500
2,000
Cash in hand
16,472
32,631
**Total Current Asset**
**18,972**
**34,631**
**Less Current Liabilities**
Amounts falling due within one year
7
-31,850
10,830
**Net Current Assets (liabilites)**
**-12,878**
**23,801**
**Total Assets less Current Lialibilities**
698,573
265,806
**Less**
Amounts falling due after more than one year
8
222,431
107,254
**NET ASSETS**
**476,142**
**158,552**
**FUNDS**
9
Unrestricted funds
476,142
158,552
Restricted funds
0
0
**TOTAL FUNDS**
**476,142**
**158,552**|
|---|---|---|---|
|||||
||||**476,142**
**158,552**|
||||476,142
158,552
0
0|
||||**476,142**
**158,552**|
Page 5
## **RCCG CITY OF GRACE PETERBOROUGH**
Balance Sheet - continued
## **As At 31 December 2020**
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.
The members have not required the charitable company to obtain an audit of its financial statements for the year ended 31 December 2020 in accordance with Section 476 of the Companies Act 2006.
## **The trustees acknowledge their responsibilities for**
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small charitable companies and with the Financial Reporting Standard for Smaller Entities (effective April 2008).
The financial statements were approved by the Board of Trustees on 10th Mar 2021 and were signed on its behalf by:
Mr Adediran Gabriel Ajayi
Page 6
## **RCCG CITY OF GRACE PETERBOROUGH**
## Notes to the Financial Statements
**For the year ended 31 December 2020**
## **1. ACCOUNTING POLICIES**
## **Accounting convention**
The financial statements have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), the Companies Act 2006 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities.
## **Incoming resources**
All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
## **Resources expended**
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings -25% on reducing balance Motor vehicles -25% on reducing balance
## **Taxation**
The charity is exempt from corporation tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
|**2.Gift Aid**|2020|2019|
|---|---|---|
||£|£|
|Gift aid|44,997|47,325|
Page 7
## **RCCG CITY OF GRACE PETERBOROUGH**
Notes to the Financial Statements - continued For the year ended 31 December 2020
## **4. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 December 2020
## **Trustees' Expenses**
There were no trustees' expenses paid neither for the year ended 31 December 2020
## **5. TANGIBLE FIXED ASSETS**
|**COST**
At 1 January 2020
Additions during year
At 31 December 2020
**DEPRECIATION**
At 31 December 2019
Charge for year
At 31 December 2020
**NET BOOK VALUE**
At 31 December 2020
At 31 December 2019|**Freehold**
**Fixtures and Equipments**
**Motor**
**Building**
**property**
**fittings**
**vehicles**
**Totals**
**£**
**£**
**£**
**£**
**£**
**£**
180,000
36,274
-
14,283
62,005
292,562
5,979
-
469,445
475,424|
|---|---|
|||
||**180,000**
**42,253**
**-**
**14,283**
**531,450**
**767,987**|
||-
36,274
-
14,283
-
50,557
5,979
5,979|
||**-**
**42,253**
**-**
**14,283**
**-**
**56,536**|
||**180,000**
**0**
**-**
**-**
**531,450**
**711,451**|
|||
||180,000
0
-
-
62,005
242,005|
## **6. DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR**
|**6. DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR**||
|---|---|
|Debtors
**7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Mortgage
Other creditors|**2020**
**2019**
£
£
2,500
2,000|
||**2020**
**2019**
£
£
11,500
10,480
20,350
350|
||**31,850**
**10,830**|
Page 8
## **RCCG CITY OF GRACE PETERBOROUGH**
Notes to the Financial Statements - continued **For the year ended 31 December 2020**
|8|**CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN**|**ONE YEAR**|||
|---|---|---|---|---|
||||**2020**|**2019**|
||||£|£|
||Mortgage||172,431|107,254|
||Covid Intervention Loan||50,000||
||||**222,431**|**107,254**|
|9|**MOVEMENT IN FUNDS**||||
||||**Net**||
||||**movement in**||
|||**At 1/1/20**|**funds**|**At 31/12/20**|
|||£|£|£|
||**Unrestricted funds**||||
||Unrestricted funds|158,552|317,590|476,142|
||**Restricted funds**||||
||Restricted|0|0|0|
||**TOTAL FUNDS**|158,552|317,590|476,142|
||Net movement in funds, included in the above are as follows:||||
|||**Incoming**|**Resources **|**Net movement**|
|||**resources**|**expended**||
|||**£**|**£**|£|
||**Unrestricted funds**|490,174|172,584|317,590|
||General fund|0|0|0|
||**TOTAL FUNDS**|490,174|172,584|317,590|
Page 9
## **RCCG CITY OF GRACE PETERBOROUGH**
Detailed Statement of Financial Activities **for the year ended 31 December 2020**
|**INCOMING RESOURCES**
**Voluntary income**
Tithes & Offering
Gift Aid
Furlough Pay
**Total incoming resources**
**Grant**
**Grant from Peterborough Council**
**Total Income**
**RESOURCES EXPENDED**
**Charitable activities**
World Evangelism Mission + WEM
Central Office
Festival of Life
Honorarium
Welfare
Donations
Books, CDs and Tapes
Children &Teenage department
Training, Conference & Congress
Outreach
Hospitality & Conference (anniversary year)
**Total Charitable activities**
**Costs of generating income**
Mortgage interest
Staff related cost
Tax + NI
Choir related cost
Printing, Postage and stationery
Telephone
Insurance
Office Expenses
Transport & Hotel Accommodation
Publicity
Vehicle Running Cost
Electricity, Gas and Water
Church Equipment
Zonal contribution
Evangelism
Peteborough City Council
Cleaning
Professional fees
Accountancy fee
Bank charges & interest
Other
Repairs
Computer Cost/ IT
Bible College
Depreciation
**Total Costs of generating income**
**Total Resources expended**
**Surplus of income/(expenditure**|**2020**
**2020**
£
£
372,053
44,997
48,124
**465,174**
25,000
**490,174**
11,658
1,200
1,200
3,550
3,200
6,900
270
203
1,240
-
-
**29,421**
6,609
85,196
10,870
2,062
1,676
766
3,688
948
3,061
-
2,368
3,667
1,184
350
-
-
1,532
8,240
350
801
655
442
720
2,000
5,979
**143,163**
**172,584**
**317,590**|**2020**
**2020**
£
£
372,053
44,997
48,124
**465,174**
25,000
**490,174**
11,658
1,200
1,200
3,550
3,200
6,900
270
203
1,240
-
-
**29,421**
6,609
85,196
10,870
2,062
1,676
766
3,688
948
3,061
-
2,368
3,667
1,184
350
-
-
1,532
8,240
350
801
655
442
720
2,000
5,979
**143,163**
**172,584**
**317,590**|**2019**
**2019**
£
£
231,463
47,325
-
**278,788**
**278,788**
15,227
1,100
1,200
11,700
750
6,768
325
1,020
1,600
42,812
7,682
**90,185**
6,653
92,797
11,700
3,708
1,164
1,245
3,808
382
1,812
1,487
4,133
2,948
2,453
2,013
446
408
965
10,541
350
430
1,299
700
720
-
2,913
**155,074**
**245,258**
**33,530**|**2019**
**2019**
£
£
231,463
47,325
-
**278,788**
**278,788**
15,227
1,100
1,200
11,700
750
6,768
325
1,020
1,600
42,812
7,682
**90,185**
6,653
92,797
11,700
3,708
1,164
1,245
3,808
382
1,812
1,487
4,133
2,948
2,453
2,013
446
408
965
10,541
350
430
1,299
700
720
-
2,913
**155,074**
**245,258**
**33,530**|
|---|---|---|---|---|
||11,658
1,200
1,200
3,550
3,200
6,900
270
203
1,240
-
-||15,227
1,100
1,200
11,700
750
6,768
325
1,020
1,600
42,812
7,682||
||||||
|||**490,174**||**278,788**|
|||**29,421**
**143,163**
**172,584**||**90,185**
**155,074**
**245,258**|
||6,609
85,196
10,870
2,062
1,676
766
3,688
948
3,061
-
2,368
3,667
1,184
350
-
-
1,532
8,240
350
801
655
442
720
2,000
5,979||6,653
92,797
11,700
3,708
1,164
1,245
3,808
382
1,812
1,487
4,133
2,948
2,453
2,013
446
408
965
10,541
350
430
1,299
700
720
-
2,913||
||||||
|||**317,590**||**33,530**|
Page 10