2022-12-31-accounts - Rccg City Of Grace Peterborough

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

Report of the Trustees and Financial Statements for the year ended 31 December 2022

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 2022

	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 2022

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 2022. 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

Mr Adediran Gabriel Ajayi
Mr. Oladapo Adegoke
Mr. Adekunle Adenuga
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 2022

FINANCIAL REVIEW

Reserves policy

The net incoming resources for the year amounted to £97,241. 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:

Date: 01st February, 2023

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 2022

I report on the accounts for the year ended 31 December 2022 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: 01st February, 2023

Page 3

RCCG CITY OF GRACE PETERBOROUGH

Statement of Financial Activities

For the year ended 31 December 2022

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	2022 2022 2022 2021 Unrestricted Restricted Total Total Funds Funds Funds Funds £ £ £ £ 243,221 243,221 154,897 57,291 57,291 54,000 - - 29,864 18 18 26,216 - 10,000
	300,530 - 300,530 274,977
	80,151 80,151 53,759 123,137 123,137 121,173
	203,289 203,289 174,932
	97,242 - 97,242 100,045 576,187 576,187 476,142
	673,429 - 673,429 576,187

Page 4

RCCG CITY OF GRACE PETERBOROUGH

Balance Sheet

As At 31 December 2022

2022 2022 2022 2021 Unrestricted Unrestricted Total Total Funds Funds Funds Funds Notes £ £ £ £ FIXED ASSETS Tangible assets 5 802,971 777,478 CURRENT ASSETS Debtors 6 7,000 7,000 Cash in hand 83,763 28,757 Total Current Asset 90,763 35,757 Less Current Liabilities Amounts falling due within one year 7 24,951 27,288 Net Current Assets (liabilites) 65,812 8,469 Total Assets less Current Lialibilities 868,784 785,947 Less Amounts falling due after more than one year 8 195,355 209,760 NET ASSETS 673,429 576,187 FUNDS 9 Unrestricted funds 673,429 576,187 TOTAL FUNDS 673,429 576,187	2022 2022 2022 2021 Unrestricted Unrestricted Total Total Funds Funds Funds Funds Notes £ £ £ £ FIXED ASSETS Tangible assets 5 802,971 777,478 CURRENT ASSETS Debtors 6 7,000 7,000 Cash in hand 83,763 28,757 Total Current Asset 90,763 35,757 Less Current Liabilities Amounts falling due within one year 7 24,951 27,288 Net Current Assets (liabilites) 65,812 8,469 Total Assets less Current Lialibilities 868,784 785,947 Less Amounts falling due after more than one year 8 195,355 209,760 NET ASSETS 673,429 576,187 FUNDS 9 Unrestricted funds 673,429 576,187 TOTAL FUNDS 673,429 576,187	2022 2022 2022 2021 Unrestricted Unrestricted Total Total Funds Funds Funds Funds Notes £ £ £ £ FIXED ASSETS Tangible assets 5 802,971 777,478 CURRENT ASSETS Debtors 6 7,000 7,000 Cash in hand 83,763 28,757 Total Current Asset 90,763 35,757 Less Current Liabilities Amounts falling due within one year 7 24,951 27,288 Net Current Assets (liabilites) 65,812 8,469 Total Assets less Current Lialibilities 868,784 785,947 Less Amounts falling due after more than one year 8 195,355 209,760 NET ASSETS 673,429 576,187 FUNDS 9 Unrestricted funds 673,429 576,187 TOTAL FUNDS 673,429 576,187	2022 2022 2022 2021 Unrestricted Unrestricted Total Total Funds Funds Funds Funds Notes £ £ £ £ FIXED ASSETS Tangible assets 5 802,971 777,478 CURRENT ASSETS Debtors 6 7,000 7,000 Cash in hand 83,763 28,757 Total Current Asset 90,763 35,757 Less Current Liabilities Amounts falling due within one year 7 24,951 27,288 Net Current Assets (liabilites) 65,812 8,469 Total Assets less Current Lialibilities 868,784 785,947 Less Amounts falling due after more than one year 8 195,355 209,760 NET ASSETS 673,429 576,187 FUNDS 9 Unrestricted funds 673,429 576,187 TOTAL FUNDS 673,429 576,187

			673,429 576,187
			673,429 576,187
			673,429 576,187

Page 5

RCCG CITY OF GRACE PETERBOROUGH

Balance Sheet - continued As At 31 December 2022

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the charitable company to obtain an audit of its financial statements for the year ended 31 December 2022 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 1st February, 2023 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 2022

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	2022	2021
	£	£
Gift aid	57,291	54,000

Page 7

RCCG CITY OF GRACE PETERBOROUGH

Notes to the Financial Statements - continued For the year ended 31 December 2022

4. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2022

Trustees' Expenses

There were no trustees' expenses paid neither for the year ended 31 December 2022

5. TANGIBLE FIXED ASSETS

COST At 1 January 2022 Additions during year At 31 December 2022 DEPRECIATION At 31 December 2021 Charge for year At 31 December 2022 NET BOOK VALUE At 31 December 2022 At 31 December 2021	Freehold Fixtures and Equipments Motor Building property fittings vehicles Totals £ £ £ £ £ £ 180,000 48,416 - 19,693 588,799 836,908 35,795 35,795

	180,000 48,416 35,795 19,693 588,799 872,703
	- 43,794 - 15,636 - 59,430 - 8,949 1,353 10,302
	- 43,794 8,949 16,989 - 69,731
	180,000 4,622 26,846 2,704 588,799 802,971

	180,000 4,622 - 4,057 588,799 777,478

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	2022 2021 £ £ 7,000 7,000
	2022 2021 £ £ 11,500 11,500 13,100 15,438 350 350
	24,950 27,288

Page 8

RCCG CITY OF GRACE PETERBOROUGH

Notes to the Financial Statements - continued For the year ended 31 December 2022

8 CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

Mortgage Covid Intervention Loan	2022 2021 £ £ 152,939 162,870 42,416 46,890
	195,355 209,760

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	Net movement in At 1/1/22 funds At 31/12/22 £ £ £ 576,187 97,242 673,429
	576,187 97,242 673,429
	Incoming Resources Net movement resources expended £ £ £ 300,530 203,289 97,242
	300,530 203,289 97,242

Page 9

RCCG CITY OF GRACE PETERBOROUGH

Detailed Statement of Financial Activities for the year ended 31 December 2022

2022 2022 £ £ 243,221 57,291 - 300,512 - 300,512 18	2022 2022 £ £ 243,221 57,291 - 300,512 - 300,512 18	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 -


	300,512		274,977
	18		-
	300,530		274,977
9,488 1,200 1,200 2,850 2,200 7,800 705 190 30,101 24,416	80,151 123,137 203,288	14,712 1,200 1,200 2,850 9,341 361 213 721 13,988 9,173	53,759 121,173 174,932
6,468 1,830 56,784 2,262 348 1,287 2,305 3,865 2,794 9,873 302 9,435 500 1,111 1,734 350 1,551 6,591 1,275 2,170 10,302		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

	97,224		100,045

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