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2021-12-31-accounts

REGISTERED COMPANY NUMBER: 07478903 (England and Wales) REGISTERED CHARITY NUMBER: 1139924

Report of the Trustees and Financial Statements for the year ended 31 December 2021

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 2021

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 2021

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 2021. 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 2021

FINANCIAL REVIEW

Reserves policy

The net incoming resources for the year amounted to £100,045. 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

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:

Date16th Feb 2022

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 2021

I report on the accounts for the year ended 31 December 2021 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:

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

(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: 16th Feb 2022

Page 3

RCCG CITY OF GRACE PETERBOROUGH

Statement of Financial Activities

For the year ended 31 December 2021

Notes
INCOMING RESOURCES
Incoming resources from generated funds
Voluntary income
Gift Aid
2
Furlough Pay
Other
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		 2021
2021
2021
2020
Unrestricted Restricted
Total
Total
Funds
Funds
Funds
Funds
£
£
£
£
154,897
154,897
372,053
54,000
54,000
44,997
29,864
29,864
48,124
26,216
26,216
-
10,000
10,000
25,000
274,977
-
274,977
490,174
53,759
53,759
29,421
121,173
121,173
143,163
174,932
174,932
172,584
100,045
-
100,045
317,590
476,142
476,142
158,552
576,187
-
576,187
476,142

Page 4

RCCG CITY OF GRACE PETERBOROUGH

Balance Sheet

As At 31 December 2021

2021
2021
2021
2020
Unrestricted Unrestricted
Total
Total
Funds
Funds
Funds
Funds
Notes
£
£
£
£
FIXED ASSETS
Tangible assets
5
777,478
711,451
CURRENT ASSETS
Debtors
6
7,000
2,500
Cash in hand
28,757
16,472
Total Current Asset
35,757
18,972
Less Current Liabilities
Amounts falling due within one year
7
27,288
31,850
Net Current Assets (liabilites)
8,469
-12,878
Total Assets less Current Lialibilities
785,947
698,573
Less
Amounts falling due after more than one year
8
209,760
222,431
NET ASSETS
576,187
476,142
FUNDS
9
Unrestricted funds
576,187
476,142
TOTAL FUNDS
576,187
476,142		 2021
2021
2021
2020
Unrestricted Unrestricted
Total
Total
Funds
Funds
Funds
Funds
Notes
£
£
£
£
FIXED ASSETS
Tangible assets
5
777,478
711,451
CURRENT ASSETS
Debtors
6
7,000
2,500
Cash in hand
28,757
16,472
Total Current Asset
35,757
18,972
Less Current Liabilities
Amounts falling due within one year
7
27,288
31,850
Net Current Assets (liabilites)
8,469
-12,878
Total Assets less Current Lialibilities
785,947
698,573
Less
Amounts falling due after more than one year
8
209,760
222,431
NET ASSETS
576,187
476,142
FUNDS
9
Unrestricted funds
576,187
476,142
TOTAL FUNDS
576,187
476,142		 2021
2021
2021
2020
Unrestricted Unrestricted
Total
Total
Funds
Funds
Funds
Funds
Notes
£
£
£
£
FIXED ASSETS
Tangible assets
5
777,478
711,451
CURRENT ASSETS
Debtors
6
7,000
2,500
Cash in hand
28,757
16,472
Total Current Asset
35,757
18,972
Less Current Liabilities
Amounts falling due within one year
7
27,288
31,850
Net Current Assets (liabilites)
8,469
-12,878
Total Assets less Current Lialibilities
785,947
698,573
Less
Amounts falling due after more than one year
8
209,760
222,431
NET ASSETS
576,187
476,142
FUNDS
9
Unrestricted funds
576,187
476,142
TOTAL FUNDS
576,187
476,142		 2021
2021
2021
2020
Unrestricted Unrestricted
Total
Total
Funds
Funds
Funds
Funds
Notes
£
£
£
£
FIXED ASSETS
Tangible assets
5
777,478
711,451
CURRENT ASSETS
Debtors
6
7,000
2,500
Cash in hand
28,757
16,472
Total Current Asset
35,757
18,972
Less Current Liabilities
Amounts falling due within one year
7
27,288
31,850
Net Current Assets (liabilites)
8,469
-12,878
Total Assets less Current Lialibilities
785,947
698,573
Less
Amounts falling due after more than one year
8
209,760
222,431
NET ASSETS
576,187
476,142
FUNDS
9
Unrestricted funds
576,187
476,142
TOTAL FUNDS
576,187
476,142
576,187
476,142
576,187
476,142
576,187
476,142

Page 5

RCCG CITY OF GRACE PETERBOROUGH

Balance Sheet - continued

As At 31 December 2021

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the charitable company to obtain an audit of its financial statements for the year ended 31 December 2021 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 16th Feb 2022 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 2021

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 Motor vehicles

-25% on reducing balance -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 2021 2020
£ £
Gift aid 54,000 44,997

Page 7

RCCG CITY OF GRACE PETERBOROUGH

Notes to the Financial Statements - continued For the year ended 31 December 2021

4. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2021

Trustees' Expenses

There were no trustees' expenses paid neither for the year ended 31 December 2021

5. TANGIBLE FIXED ASSETS

COST
At 1 January 2021
Additions during year
At 31 December 2021
DEPRECIATION
At 31 December 2020
Charge for year
At 31 December 2021
NET BOOK VALUE
At 31 December 2021
At 31 December 2020		 Freehold
Fixtures and Equipments
Motor
Building
property
fittings
vehicles
Totals
£
£
£
£
£
£
180,000
42,253
-
14,283
531,450
767,987
6,162
-
5,410
57,349
68,921
180,000
48,416
-
19,693
588,799
836,908
-
42,253
-
14,283
-
56,536
1,541
1,353
2,894
-
43,794
-
15,636
-
59,430
180,000
4,622
-
4,057
588,799
777,478
180,000
0
-
-
531,450
711,451

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
Accountancy fees		 2021
2020
£
£
7,000
2,500
2021
2020
£
£
11,500
11,500
15,438
20,000
350
350
27,288
31,850

Page 8

RCCG CITY OF GRACE PETERBOROUGH

Notes to the Financial Statements - continued For the year ended 31 December 2021

8 CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

Mortgage
Covid Intervention Loan
9 MOVEMENT IN FUNDS
Unrestricted funds
Unrestricted funds
TOTAL FUNDS
Net movement in funds, included in the above are as follows:
Unrestricted funds
TOTAL FUNDS		 2021
2020
£
£
162,870
172,431
46,890
50,000
209,760
222,431
Net
movement in
At 1/1/21
funds
At 31/12/21
£
£
£
476,142
100,045
576,187		 2021
2020
£
£
162,870
172,431
46,890
50,000
209,760
222,431
476,142
100,045
576,187
Incoming
Resources Net movement
resources
expended
£
£
£
274,977
174,932
100,045
274,977
174,932
100,045

Page 9

RCCG CITY OF GRACE PETERBOROUGH

Detailed Statement of Financial Activities for the year ended 31 December 2021

INCOMING RESOURCES
Voluntary income
Tithes & Offering
Gift Aid
Furlough Pay
Other
Total incoming resources
Grant
Grant from Peterborough Council
Total Income
Investment income
Bank interest receivable
Total incoming resources
RESOURCES EXPENDED
Charitable activities
World Evangelism Mission + WEM
Central Office
Festival of Life
Honorarium
Welfare
Books, CDs and Tapes
Children &Teenage department
Training, Conference & Congress
Evangelism & 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
Vehicle Running Cost
Electricity, Gas and Water
Church Equipment
Zonal contribution
Cleaning
Professional fees
Accountancy fee
Bank charges & interest
Other
Repairs
Building cost
Computer Cost/ IT
Bible College
Depreciation
Total Costs of generating income
Total Resources expended
Surplus of income/(expenditure		 2021
2021
£
£
154,897
54,000
29,864
26,216
264,977
10,000
274,977
-		 2021
2021
£
£
154,897
54,000
29,864
26,216
264,977
10,000
274,977
-		 2020
2020
£
£
372,053
44,997
-
48,124
465,174
25,000
490,174
-		 2020
2020
£
£
372,053
44,997
-
48,124
465,174
25,000
490,174
-
- -
274,977 490,174
- -
14,712
1,200
1,200
2,850
9,341
361
213
721
13,988
9,173		 53,759
121,173
174,932		 11,658
1,200
1,200
3,550
10,100
270
203
1,240
-
-		 29,421
143,163
172,584
6,487
68,316
8,551
619
2,539
7,555
715
3,987
7,921
450
753
1,125
350
3,003
321
1,860
1,929
1,799
2,894		 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
100,045 317,590

Page 10