RIVER OF LIFE CHRISTIAN CENTRE
REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
A COMPANY LIMITED BY GUARANTEE NUMBER 07455503
CHARITY NUMBER 1139988
RIVER OF LIFE CHRISTIAN CENTRE
(A COMPANY LIMITED BY GUARANTEE)
INDEX TO THE REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
Page
1 - 5 Trustees' report 6 Independent examiner's report 7 Statement of financial activities 8 Balance sheet 9 -14 Notes to the financial statements Non -statutory page 15 Detailed income and expenditure account
RIVER OF LIFE CHRISTIAN CENTRE
(A COMPANY LIMITED BY GUARANTEE)
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2020
The trustees have pleasure in presenting their annual report together with the financial statements of the Charity for the year ended 31 December 2020, which are also prepared to meet the requirement for a directors' report and accounts for Companies Act purposes.
The financial statements compaly with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting by Charities: 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 (FRS102) (effective 1 January 2015).
LEGAL STATUS
River of Life Christian Centre is charitable company limited by guarantee, governed by memorandum and articles of association.
TRUSTEES
The trustees who have served during the year are as follows:
| Rev S Chaudhary | ||
|---|---|---|
| A Christaki | ||
| D Torrington | ||
| Registered Office: | 26 Trym Road | |
| Westbury-on-Trym | ||
| Bristol | ||
| BS9 3EP | ||
| Independent examiner | Graham Barber | |
| Chartered Accountant | ||
| Graham Barber Accountancy Limited | ||
| 4 Beaufort West | ||
| Bath | ||
| BA1 6QB | ||
| Solicitors: | Stewardship Services | |
| PO Box 99 | ||
| Loughton | ||
| Essex | ||
| Principal bankers | HSBC Bank plc | |
| 11 Canford Lane | ||
| Westbury-on-Trym | ||
| Bristol | ||
| BS9 3DE | ||
| Registered company number | 7455503 | Registered c |
Registered charity number:
1139988
1
RIVER OF LIFE CHRISTIAN CENTRE
(A COMPANY LIMITED BY GUARANTEE)
REPORT OF THE TRUSTEES (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2020
Legal Status
River of Life Christian Centre (Hereafter referred to as RoLCC) is a charitable company limited by guarantee, governed by memorandum and articles of association, which completed its transition to a charitable company back in 2010 as agreed by its membership.
The attached financial statements present the financial transactions of the charitable company for 12 months to 31 December 2020, with the comparative figures being for the 12 months ended 31 December 2019.
RoLCC, a Church and registered charity continues to operate under its own constitution established and agreed by the charities commission on 29[th] September 1983 and amended 27th July 1987.
RoLCC is a local independent Church led by pastors Stephen and Lesley Chaudhary. By independent it is meant that the Church is not tied to a denomination; although is networked with other like-minded Churches, charities and organisations.
Management and pay policy
There are 3 trustees who meet periodically where they discuss current issues and future plans concerning the charity. They review best practice according to the most to date information provided. The 3 trustees are the key management personnel. Two Trustees are not remunerated and give their time freely. Pay of Stephen and Lesley Chaudhary, the pastors is set out in note 12 to the financial statements. Pay is reviewed annually taking into account cost of living and other pertinent factors.
Appointment and training of trustees
New trustees are appointed in accordance with the Articles of Association, who can bring the requisite spiritual qualities to the leadership of the church. New trustees are provided with the Articles of Assocaition and other material published by the Charity Commission setting outthe responsibilities of being a Trustee. There is no maximum number of Trustees. Trustees are not required to retire by rotation.
CHARITIES ACT 2011
The trustees have complied with the duty in section 17(5) of the Charities Act 2011 to have regard to the public benefit guidance published by the charity commissioners and in particular the specific guidance on charities for the advancement of religion. The Trustees can demonstrate that its activities benefit the public in the following ways:
OBJECTIVES
The trust deeds define the objectives of the Church, but are summarized as follows:
The mission statement of the Church is to be a strong lively Church. To be a Church where the gifts, talents and abilities of each person can be discovered and fulfilled.
To be a Church able and willing to reach out and meet the needs of the community, with the intention of bringing them to a commitment to Jesus Christ and then leading them on into a productive Christian life.
We accomplish these objectives through the encouragement and the involvement of individuals using and developing their own abilities in ways that meet the objectives.
2
RIVER OF LIFE CHRISTIAN CENTRE
(A COMPANY LIMITED BY GUARANTEE)
REPORT OF THE TRUSTEES (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2020
SUMMARY OF ACTIVITIES, DEVELOPMENTS & ACHIEVEMENTS
RoLCC meets for worship on Sunday morning with separate active children’s programs for part of the morning and a parent supervised creche.
Pastor Stephen leads the Church service and also preaches sermons from the Bible. Part of the service involves the praise and worship team who lead the congregation to fulfil their responsibilities.
The 12 months to 31 December 2020 have been a challenge for the Church, and as a result of the Covid pandemic, RoLCC held no face-to-face meetings from mid-March until September 2020 and again for a month in November 2020.
Weekly video calls via YouTube were instigated as a result and the positives from this was that RoLCC services were seen across several countries during lockdown as a result due to word of mouth.
These video calls were presented in the same format as a face-to-face service in that the worship team played a number of songs, The announcements & offering given and then finishing with the sermon from Pastor Stephen Chaudhary.
Pastor Stephen continued to encourage the Church through the online service in all aspects of the Christian lifestyle and the congregation were encouraged on the use of Social Media to send out prayer requests for which the Church gathered ‘virtually’ on Thursdays at 7pm to pray for the Church, our nation, and the challenges of the pandemic.
Notwithstanding, RoLCC finances whilst primarily moving to online giving has suffered slightly and was down ~15k on the previous year.
Lockdown had also impacted RoLCCs other ministries namely the Homeless Breakfast Run, ‘Over a Cuppa’, Street Prayer and Steve’s pastoral work, visits etc. These are on hold until the foreseeable future.
Strategic Aims
As of September 2021, The Church has now started to return to ‘normal operations’ albeit it with social distancing measures instigated. This has resulted in a reduction in membership – But is based on a ‘first come first served’ basis in line with Government guidelines.
The current pastor and his wife – Stephen & Lesley are stepping down in October 2021 and a new Pastor and his wife – Iain & Jennifer will be replacing them. Work to transition is currently underway.
Restructure Church activities with the new Pastor and his wife
Investigate options for a new Presentation system for sermons, praise & worship and video presentations as the current system is now ageing
Instigation of a ‘proper’ Sunday School has started and is making good progress
Look to instigate homegroups and Church outreach activities as Covid restrictions are lifted (e.g., Homeless breakfast etc)
Parts of the Church have fallen into disrepair - Repair leaking roof and general building repairs are underway and longer-term work is being planned (e.g. internal structural changes to introduce more community outreach like a coffee shop idea!
3
RIVER OF LIFE CHRISTIAN CENTRE
(A COMPANY LIMITED BY GUARANTEE)
REPORT OF THE TRUSTEES (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2020
Gifts
RoLCC regularly gives gifts and food hampers to people throughout the year, not just during Christmas time. In particular we have focused on helping the homeless and those who have trouble living independently as well as providing similar hampers tailored towards helping clients of a local charity that help victims of modern-day slavery. We have been able to help children’s work projects overseas.
Food Bank RoLCC supports this initiative and Church members regularly donate large amounts of food to this cause, as well as supplying volunteers to provide hands on support at a local Foodbank.
Child Protection Policy RoLCC has had a comprehensive Child protection policy in place since 2000, and training is ongoing for individuals who work with children. The Child Protection Policy is registered with thirtyone:eight and in compliance with their recommendations, sent to Bristol City Council Social Services.
Health & Safety The Church has an appointed Health & Safety officer. Any area of concern is brought to their attention, and dealt with at the first opportunity. Health & Safety is regularly stressed as everyone’s responsibility. RoLCC also has several first aiders. No H&S issues have been reported.
Workplace Pensions RoLCC is enrolled in a "Workplace Pension Scheme".
FINANCES
No policy has been discussed by the trustees for holding or making investments. The charity’s assets are currently invested entirely with banks, and no change to this policy is currently envisaged.
The objectives of RoLCC are supported by the freewill giving of tithes and offerings by its members and congregants. Pastors Stephen and Lesley receive salaries, and charitable gifts are made by the Church to support missions whether overseas or within our own locale, including those in need of financial support.
Any funds not used month by month are transferred to a high interest short term account. Other day to day funds are held with HSBC.
Unrestricted expenditure for the year exceeded income by £1,434, (2019 £1,573 surplus income). Restricted expenditure for the year exceeded income by £1,648, (2019 £530 surplus income). Accumulated unrestricted funds at 31 December 2020 amounted to £237,195 (2019 - £238,629). Free reserves were £89,438 (2019 - £89,632).
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RIVER OF LIFE CHRISTIAN CENTRE
(A COMPANY LIMITED BY GUARANTEE)
REPORT OF THE TRUSTEES (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2020
Relationships with other Charities and Organisations
RoLCC does not have any formal relationships with other charities, organisations other than those stated above; however, we have a good relationship with other local Churches and a number of informal relationships, including:
-
Hillsong Church London
-
The Ascension Trust (Street Pastors governing body)
-
International Gospel Outreach (Ministry organisation)
-
Unseen(Charity that supports victims of modern-day slavery)
-
One25 (Charity that supports victims caught in the sex industry)
-
HOTS (Bristol)
-
Other local churches and community groups
TRUSTEES' RESPONSIBILITIES
The Trustees are responsible for preparing the Annual Report and the Financial Statements in accordance with applicable law and regulations.
The trustees are required to prepare Financial Statements for each financial year in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the Uk and Republic of Ireland (United Kingdom Accepted Accounting Practice. The Financial Statements are required by law to give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources of the Charity for that period. In preparing these Financial Statements, the Trustees should follow best practice and:
-select suitable accounting policies and then apply them consistently;
-observe the methods and principles in th Charities SORP;
-make judgements and estimates that are reasonable and prudent;
-state whether applicable accounting standards and statements of recommended practice have been followed, subject to any departures disclosed and explained in the financial statements; and
-prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in operation
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention of fraud and other irregularities.
This report has been prepared in accordance with the special provisions for small companies under part 15 of the Companies Act 2006.
INDEPENDENT EXAMINER
Graham Barber has indicated his willingness to submit himself for re-appointment as independent examiner.
By order of the board of trustees
D Torrington Trustee
18 September 2021
5
RIVER OF LIFE CHRISTIAN CENTRE
(A COMPANY LIMITED BY GUARANTEE) INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDED 31 DECEMBER 2020
Independent examiner's report to the Trustees on the unaudited financial statements
I report on my examination of the financial statements of the Company for the year ended 31 December 2020 set out on pages 7 to 14.
Responsibilities and basis of report
As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
Independent examiner's report
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
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.
Graham Barber BA ACA 4 Beaufort West GRAHAM BARBER ACCOUNTANCY LIMITED Bath Dated: 18 September 2021
6
RIVER OF LIFE CHRISTIAN CENTRE
(A COMPANY LIMITED BY GUARANTEE)
STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE)
FOR THE YEAR ENDED 31 DECEMBER 2020
| Notes Income Donations and gifts 1 Investment income 2 Total Income Expenditure Expenditure on charitable activities: Gifts and grants 5 Other direct charitable expenditure 5 Total expenditure 3, 5 & 6 Net Income/(Expenditure) for the Year Reconciliation of funds Balances brought forward at 1 January 2020 Balances carried forward at 31 December 2020 |
Unrestricted Restricted Total 2020 2020 2020 £ £ £ 47,202 1,643 48,845 421 - 421 47,623 1,643 49,266 1,021 3,291 4,312 48,036 - 48,036 49,057 3,291 52,348 (1,434) (1,648) (3,082) 238,629 1,691 240,320 237,195 43 237,238 |
Total 2019 £ 61,778 730 |
|---|---|---|
| 62,508 | ||
| 8,273 52,132 |
||
| 60,405 | ||
| 2,103 238,217 |
||
| 240,320 |
All activities are classed as continuing.
The notes on pages 9 to 14 form part of these financial statements.
7
RIVER OF LIFE CHRISTIAN CENTRE
(A COMPANY LIMITED BY GUARANTEE) BALANCE SHEET
| RIVER OF LIFE CHRISTIAN CENTRE (A COMPANY LIMITED BY GUARANTEE) |
|||
|---|---|---|---|
| BALANCE SHEET AS AT 31 DECEMBER 2020 Notes Fixed Assets Tangible fixed assets 7 Current Assets Debtors 8 Bank balances Creditors: Amounts falling due within one year 9 Net Current Assets Total Assets Less Current Liabilities Income funds Unrestricted funds General fund Restricted funds 10 Total funds |
Company number £ £ 147,757 7,580 85,899 93,479 3,998 89,481 237,238 237,195 43 237,238 2020 |
7455503 148,997 11,126 85,599 96,725 5,402 91,323 240,320 238,629 1,691 238,217 2019 |
|
| 240,320 | |||
| 238,629 1,691 |
|||
| 238,217 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020 relating to small companies.
The trustees 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 Section 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 applicable to companies subject to the small companies regime.
The financial statements were approved by the trustees on 18 September 2021
----- Start of picture text -----
D Torrington A Christaki
Trustees
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The notes on pages 9 to 14 form part of these financial statements.
8
RIVER OF LIFE CHRISTIAN CENTRE (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
- Accounting policies
(a) The financial statements have been prepared in accordance the Financial Reporting Standard 102 and Statement of Recommended Practice, Accounting and Reporting by Charities (FRS102) and the Companies Act 2006.
The charity meets the definition of a public benefit entity under FRS102.
Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s). There are no material uncertainties affecting the ability of the charity to continue as a going concern.
- (b) Donations
Donations, legacies and other forms of voluntary income are recognised within the statement of financial activities account when they become receivable, which is when the charity becomes entitled
-
Property improvements 10% straight line
-
Office equipment 25% reducing balance to the resource. Income tax recoverable on gifts received is recognised in the year in which the related gift is receivable.
-
(c) Investment income
Investment income is included in the SOFA when receivable.
- (d) Basis of allocation of expenses
Expenses are recognised when incurred and are apportioned where possible exactly to the category to which they relate. In circumstances where this is not possible the trustees apportion the amounts.
These represent costs incurred by the charity in the management of resources, organisational administration and compliance with constitutional and statutory requirements.
- (e) Pension costs
The charity operates defined contribution pension scheme arrangements. Contributions payable to the
schemes are charged to the statement of financial activities in the period to which they relate. These contributions are invested separately from the charity's assets.
- (f) Capitalisation and depreciation of tangible fixed assets
All tangible fixed assets with an acquisition value of £750 or more are capitalised.
Depreciation is calculated to write off the cost of equipment over the estimated useful lives on a straight line basis at 20% per annum.
No depreciation is charged on freehold church building, which is subject to a regular program of inspection and maintenance.
- (g) Funds accounting
Funds held by the charity are:
Unrestricted general funds - these funds can be used in accordance with charitable objects at the discretion of the trustees.
Restricted funds - these are funds that can only be used for a particular restricted purpose within the objects of the charity. Restrictions arise typically when offerings are taken for particular restricted purposes.
9
RIVER OF LIFE CHRISTIAN CENTRE
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2020
| 2. Investment income Interest on bank and building society deposits 3. Net ncome/(expenditure) for the year Surplus for the year is arrived at after charging/(crediting) Remuneration of trustees (see note 12) Trustees' expenses reimbursed Remuneration of Independent Examiner Remuneration of Independent Examiner - other services Legal fees Staff costs and numbers Wages and salaries Social security costs Pension costs Staff numbers Total Pastoral Staff numbers Full time equivalent (37.5 hours per week) Pastoral No employee earned more than £60,000 Key management employment benefit was (see also note 12): 4. Taxation |
2020 £ 421 421 2020 £ 35,200 929 270 1,098 - 2020 £ 35,200 - 743 35,943 2020 2 2020 1 35,200 |
2019 £ 730 |
|---|---|---|
| 734 | ||
| 2019 £ 35,071 1,380 270 966 13 |
||
| 2019 £ 35,071 - 367 |
||
| 35,278 | ||
| 2019 2 |
||
| 2019 1 |
||
| 35,071 | ||
The charity is exempt from payment of taxes on surpluses. The charity is not registered for VAT and accordingly expenditure is shown gross of irrecoverable VAT.
10
RIVER OF LIFE CHRISTIAN CENTRE
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2020
5. Expenditure on charitable activities
| Unrestricted Funds £ Activities in Bristol 48,406 Activities overseas 651 49,057 Expenditure by type of cost £ Staff costs and ministry 36,872 Activities 1,368 Property costs 7,044 Office costs 144 Depreciation 1,240 46,668 Governance costs (note 6) 1,368 Gifts and grants 1,021 49,057 Analysis of gifts and grants To organisations Charity No. David Chaudhary Ministries Childres Home 1092114 (see note 11.) Hillsong Church Mission Destiny InHope (Bristol Ltd (Wildgoose café) 298528 Homeless mininisty Mission Other small gifts To individuals for ministry 1 (2019 - 1) gift Other gifts to individuals |
Restricted Funds £ 1,491 1,800 3,291 £ - - - - - - - 3,291 3,291 |
2020 £ 49,897 2,451 52,348 £ 36,872 1,368 7,044 144 1,240 46,668 1,368 4,312 52,348 2020 £ 381 - 1,765 340 - 315 - 2,801 500 1,011 4,312 |
2019 £ 53,815 6,587 |
|---|---|---|---|
| 60,402 | |||
| £ 36,752 2,776 9,539 574 1,242 |
|||
| 50,883 1,249 8,273 |
|||
| 60,405 | |||
| 2019 £ 160 209 5,777 - 720 910 192 |
|||
| 7,776 150 347 |
|||
| 8,273 |
11
RIVER OF LIFE CHRISTIAN CENTRE
(A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2020
| 6. Governance Legal fees Remuneration of Independent Examiner Remuneration of Independent Examiner - other services 7. Tangible Fixed Assets Cost At 1 January 2020 Additions At 31 December 2020 Depreciation At 1 January 2020 Charge for the year At 31 December 2020 Net book value At 31 December 2020 At 31 December 2019 Cost is the original cost of the freehold premises to the 8. Debtors Income tax recoverable Prepayments and accrued income 9. Creditors: Amounts falling due within one year Accrued expenses Taxes and social security Pension contributions Other creditors |
Unrestricted Restricted Funds Funds £ £ - - 270 - 1,098 - 1,368 - Freehold property £ 145,903 - 145,903 - - - 145,903 145,903 original unincorporated charity. |
Total Total 2020 2019 £ £ - 13 270 270 1,098 966 1,368 1,273 Equipment Total £ £ 15,988 161,891 - - 15,988 161,891 12,894 11,652 1,240 1,240 14,134 12,892 1,854 147,757 3,094 148,997 All assets are held for use. 2020 2019 £ £ 7,530 11,061 50 65 7,580 11,126 2020 2019 £ £ 2,040 2,136 1,549 1,550 200 - 209 1,716 3,998 5,402 |
Total 2019 £ 13 270 966 |
|---|---|---|---|
| 1,273 | |||
| Total £ 161,891 - |
|||
| 161,891 | |||
| 11,652 1,240 |
|||
| 12,892 | |||
| 147,757 | |||
| 148,997 | |||
| 11,126 | |||
| 2019 £ 2,136 1,550 - 1,716 |
|||
| 5,402 |
12
RIVER OF LIFE CHRISTIAN CENTRE
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2020
10. Charitable funds
| Charitable funds | Charitable funds | |||
|---|---|---|---|---|
| At 1 January 2020 £ Restricted Missions 5 Mission Destiny 1,415 Orphanage fund 271 Breakfast run - InHope(Bristol) Ltd (Wildgoose) - Individuals for ministry and mission - Resricted funds 1,691 Unrestricted funds 238,629 Total funds 238,217 |
Movement in resources Income Expenditure £ £ 300 305 350 1,765 110 381 180 - 383 340 500 500 |
At 31 December 2020 £ - - - - 180 43 - |
||
| 1,691 238,629 238,217 |
1,823 47,623 50,618 |
3,291 49,057 52,348 |
223 237,195 |
|
| 237,418 |
| At 1 January 2019 Restricted £ Missions 255 Mission Destiny 695 Orphanage fund 201 Breakfast run - Unseen - LWCF - Individuals for ministry and mission 10 Restricted funds 1,161 Unrestricted funds 237,056 Total funds 238,217 |
Movement in resources Income Expenditure £ £ 650 900 6,497 5,777 230 160 180 180 42 42 150 150 150 160 7,899 7,369 54,609 53,036 63,260 60,405 |
At 31 December 2019 £ 5 1,415 271 - - - - |
|---|---|---|
| 1,691 238,629 |
||
| 240,320 |
Restricted funds are principally gifts received for specific purposes as a result of:
-
annual thank offerings
-
gifts for local projects
-
giving to meet special needs in the World and other specific purposes Such gifts and offerings are normally passed on to the nominated beneficiaries soon after receipt. The balance of the restricted fund is held in the bank account.
13
RIVER OF LIFE CHRISTIAN CENTRE (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2020
11. Prior year fund comparatives
| 11. Prior year fund comparatives | |||
|---|---|---|---|
| Income Donations and gifts Investment income Total Income Expenditure Expenditure on charitable activities: Gifts and grants Other direct charitable expenditure Total expenditure Net Income/(Expenditure) for the Year Balances brought forward at 1 January 2019 Balances brought forward at 31 December 2019 |
Unrestricted £ 53,879 730 54,609 904 52,132 53,036 1,573 237,056 238,629 |
Restricted £ 7,899 - 7,899 7,369 - 7,369 530 1,161 1,691 |
Total Funds £ 61,778 730 |
| 62,508 | |||
| 8,273 52,132 |
|||
| 60,405 | |||
| 2,103 238,217 |
|||
| 240,320 |
12+Related party transactions and commitments
Trustee remuneration
Under the Memorandum of Association, clause 6, a minority of Trustees may be remunerated for services provided under a contract of employment.
Remuneration, pensions and benfits for employed pastor was as follows in the year ended 31 December 2020.
Rev SPV Chaudharuy
| 2020 | 2019 | |
|---|---|---|
| £ | £ | |
| Salary | 35,200 | 35,071 |
| Employer pension contributions | 743 | 301 |
| Reimbursement of expenses incurred | 929 | 1,380 |
Payments to Mrs L V Chaudhary are included in the above. No other trustee received remuneration or expenses.
Rev SPV Chaudhary is a Trustee of David Chaudhary Ministries Children's Home.
Donations received from Trustees in the year were £12,412 (including Gift Aid recovered).
13. Commitments
There were no outstanding commitments at either period end
14