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← The Redeemed Christian Church Of God Hope Centre

2024-03-31-accounts

THE REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) HOPE CENTRE

Charity Reg No: 1144615

TRUSTEES' ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

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THE REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) HOPE CENTRE

CONTENTS
Reference and Administrative Details 3
Trustees' Annual Report 4
Independent Examiner's Report 9
Statement of Financial Activities 10
Balance Sheet 11
Note to the Financial Statements 12

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THE REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) HOPE CENTRE

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES & ADVISERS FOR THE YEAR ENDED 31 MARCH 2024

Trustees General Overseer
Mr Michael John Askew - Chairman Pastor E A Adeboye
Mr Babatunde Akindunmoye Oyeniyan
Mr Robert Peter Yarr
Pastor in Charge
Pastor Reuben E Inwe
Principal Address
Charity Registration No 53 Turnberry Drive
1144615 Acomb
York
YO26 5QP
Bankers Independent Examiner
HSBC Bank Plc Ayoks Consulting Limited
19 York Road (International Accountant)
Acomb 7th Floor
York The Balance
YO24 4LW 2 Pinfold Street
Sheffield
S1 2GU

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THE REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) HOPE CENTRE

TRUSTEES' ANNUAL REPORT

FOR THE YEAR ENDED 31 MARCH 2024

The Trustees present their report and the unaudited financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS 102) in preparing the annual report and financial statements of the charity.

The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity’s governing document, the Charities Act 2011 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 published in October 2019.

The charity also operates under the name RCCG Hope Centre.

Objectives and activities

a. Policies and objectives

The main object of the charity is the advancement of the Christian faith worldwide and the relief of poverty.

b. Main activities undertaken to further the charity's purposes for the public benefit

The Trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit in setting the objectives and planning the activities of the organisation. Details of how the charity carries out its activities for the public benefit are given below.

Achievements and performance

a. Review of activities

Hope Centre is a Christian Church and as such its main aims include:

Our activities in pursuit of these aims have included:

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THE REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) HOPE CENTRE

TRUSTEES'ANNUAL REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

Sunday mornings for age-appropriate instruction and activities. From summer 2024, the church youth will participate in a youth camp at the RCCG UK headquarters

Prayer

Praying together is one of the most important activities for Christians, and the one that gives us the most beneficial impact on the world around us. Hope Centre has a regular pattern of church prayer meetings every Friday a monthly prayer meeting for the ladies, and a monthly prayer and social time for the men.

A growing congregation

Hope Centre is a family-centred church, with a strong culture of supporting marriage and children. This emphasis can be seen in the large number of weddings taking place, and children being born to church members. The children’s groups have grown and flourished, with the teenagers now able to conduct their own meetings and respect their own leaders. This growth has put strain on the space allocated to children’s work in upper floor of Redemption House. The congregation has seen a steady growth in numbers, with the main auditorium barely able to contain the Sunday congregation.

Property

During the period covered by this report the church has used the property acquired in April 2022 to host church activities and to serve as a centre for outreach in the local area. In view of the rapidly expanding congregation, the trustees have engaged architects and a planning consultant to make the strongest possible case for building an extension to accommodate up to 350 people. A pre-application consultation has been submitted to the planning office to gauge the likely response to an application for an extension to the property. During the period covered by this report the church has used the property acquired in April 2022 to host church activities and to serve as a centre for outreach in the local area. In view of the rapidly expanding congregation, the trustees have engaged architects and a planning consultant to make the strongest possible case for building an extension to accommodate up to 350 people. A pre-application consultation has been submitted to the planning office to gauge the likely response to an application for an extension to the property.

“The relief of poverty”

The second Object of the RCCG Hope Centre Charity is the relief of poverty, and it is our intention to expand the support we can offer to those who need it most. This will include assistance for those in need of short-term accommodation but unable to afford the high cost of rental property in the York area.

Financial review

a. Principal risks and uncertainties

The church of Jesus Christ is a supernatural body with a divine mandate to bring the love of God to the world. It is underwritten from heaven, and this creates a different outlook on risk and uncertainty compared with a secular enterprise. Notwithstanding that fundamental difference, all due diligence is given to ensuring that the affairs of the Trust are managed in a manner that is responsible, professional and in accordance with all legal, ethical and charitable requirements.

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THE REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) HOPE CENTRE

TRUSTEES'ANNUAL REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

However, there are times when bold decisive action is taken on financial projects after careful prayer and thought.

The principal human resources available to the Trust in the performance of its duties are as follows:

The greatest risks to healthy church life come in the form of any influence or eventuality that threatens the health or cohesiveness of the leadership team. In particular:

The primary financial objective of the church is to support its missionary and community service endeavours, as well as giving to the wider international Christian mission. Money raised from voluntary donations has been able to support the outreach work of the church and to employ a full-time pastor. 15% of unrestricted income goes to overseas mission work and a monthly contribution of £50 goes to the administrative costs of the UK central office of the RCCG.

Total income for the year 1 April 2023 – 31 March 2024 was £160,556, of which £17,850 was restricted to defraying

ongoing building costs such as mortgage and utilities. Total expenditure for the year was £170,215. Total bank funds carried forward at 31 March 2024 was £22,638.

c. Reserves and Going Concern Policy

The financial reserves of the church are examined on a weekly basis by the leadership team. The charity's standard policy is to ensure that there is an adequate buffer to cover all known expenses on a month-to-month basis with a sensible contingency.

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THE REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) HOPE CENTRE

TRUSTEES'ANNUAL REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

The current account is normally kept with a buffer of 1-2 months expenditure in reserve. The financial year ending 31st March 2024 represented a full year of running the new building and paying the mortgage. The income to the church is sufficient to keep the cash reserves buoyant and to cope with any financial shocks. After making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements.

Structure, governance and management

a. Constitution

The Redeemed Christian Church of God Hope Centre (RCCG Hope Centre) was established in York in early 2011. It was formally registered as a charity on 10 November 2011. The charity is governed by a Trust Deed made on 20 October 2011. The powers of the Trustees are set out in the Trust Deed.

b. Methods of appointment or election of Trustees

The management of the charity is the responsibility of the trustees who are elected and co-opted under the terms of the Trust Deed. The minimum number of Trustees is three and the maximum is seven individuals. Every trustee shall be in fellowship with The Redeemed Christian Church of God in Europe and if possible, not more than three- quarters of the Trustees shall come from the membership of RCCG.

The first trustees are entitled to hold office for life. Future Trustees must be appointed by resolution of the Trustees.

c. Trustees and leadership

The Trustees are currently Michael Askew, Peter Yarr and Babatunde Oyeniyan. The leadership team consists of the full- time paid officer of the Trust – the Pastor Reuben Inwe, the Trustees and all those engaged in leadership roles in the church, such as children’s work, evangelism, prayer, social care, worship leading and so on. The leadership team meets fortnightly to discuss matters of church business, with major financial decisions made at meetings of all Trustees in consultation with the Pastor.

Plans for future periods

In 2024-2025 the above activities are expected to continue, with a major focus being planning for the extension of Redemption House, which has been such a benefit to the church’s mission. A primary goal of every Christian church is making disciples of Christ, and this will continue to be the principal thrust of all our activities.

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THE REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) HOPE CENTRE

TRUSTEES'ANNUAL REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

Information on fundraising practices

The organisation's fundraising activities are managed and controlled and monitored by the Trustees. No external body is involved in any fundraising on behalf of the organisation. All activities are carried out by members of the Charity. No professional fundraiser has been involved in these activities. We have not knowingly subscribed to any fundraising standard or regulation. The organisation has not received any complaints in respect of its fundraising activity.

Statement of Trustees' responsibilities

The Trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial which give a true and fair view of the state of affairs of the charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and 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 Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by order of the members of the board of Trustees and signed on their behalf by:

Name: Michael Askew

Position: Chairman of Trustees

Signature:

Date: 19 October 2024

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THE REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) HOPE CENTRE

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF THE REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) HOPE CENTRE

I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 March 2024 which is set out on pages 10 - 18

RESPONSIBILITIES AND BASIS OF REPORT

As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ("the 2011 Act").

Having satisfied myself that the accounts of the charity are not required to be audited under Section 142(2) of the Charity Act 2011 ("the 2011 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 Charity Act 2011 ("the Act"). In

carrying out my examination, I have followed the Directions given by the Charity Commission section 145(5)(b) of the 2011 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:

  1. accounting record were not kept as required by section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. the accounts 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.

Abiodun Akintebi FAIA, FCCA

(International Accountant)

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7th Floor

The Balance

2 Pinfold Street

Sheffield

S1 2GU

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THE REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) HOPE CENTRE

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024

Unrestricted Restricted
Notes funds funds 2024 2023
INCOMING RESOURCES £ £ £ £
Donations, legacies & similar incoming resources 2 117,349 17,850 135,199 383,763
Activities in furtherance of charity's object 3 25,357 - 25,357 16,310
Total Incoming Resources 142,706 17,850 160,556 400,073
RESOURCES EXPENDED
Management and Governance Cost 4 157,315 12,900 170,215 215,436
Total Resources Expended 157,315 12,900 170,215 215,436
Net Incoming/(Outgoing) Resources for the year (14,609) 4,950 (9,659) 184,637
Transfers between funds 636,744 (636,744) - -
Net movement in funds 622,135 (631,794) (9,659) 184,637
Total fund brought forward 8,498 636,744 645,243 460,606
Total funds carried forward 630,633 4,950 635,584 645,243

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THE REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) HOPE CENTRE

BALANCE SHEET AS AT 31 DECEMBER 2024

Fixed Assets
Tangible Assets
Notes
7
Current Assets
Debtor and Prepayments
8
Cash and bank balances
Short term liability
Creditors (amount falling due within a year)
9
Net Current Asset
Long term liability
Creditors (amount falling due after more than one year)
10
Net Assets
Charity funds
Restricted fund
11
Unrestricted fund
11		 2024
£
863,643
2023
£
877,500
-
-
22,638
19,887
22,638
19,887
2,563
2,032
20,075
17,854
248,134
250,111
635,584
645,243
4,950
895,354
630,633
(250,111)
635,584
645,243

Approved by the trustees and signed on their behalf by:

Name:

Position:

Signature:

Date:

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THE REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) HOPE CENTRE

NOTES TO THE ACCOUNTS

1. Accounting policies

1.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with 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 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Accepted Accounting Practice.

The financial statements have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. This departure has involved following the 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 issued in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

RCCG Hope Centre meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

1.2 Going concern

The financial reserves of the church are examined on a weekly basis by the leadership team. The charity's standard policy is to ensure that there is an adequate buffer to cover all known expenses on a month by month basis with a sensible contingency. The current account is normally kept with a buffer of 1-2 months expenditure in reserve. Total free reserves as at the year end were £630,633 (2023: £8,498), the average monthly expenditure of the church in the year ended 31 March 2024 was £11,163 (2023: £7,883).

It can be seen from the financial record of this year that substantial funds can be made available by church members when there is a substantial need. While sums of this scale cannot be assumed to be the usual result of a fund raising appeal, it is clear that there is the financial will in the congregation to go above and beyond when the need arises. The support of the denomination as a whole is also to be noted in considering the viability of Hope Centre church as a going concern. The pledge forms used for the building acquisition project provided a space for the length of the financial commitment promised. Most of the pledges which have expired have continued to be paid beyond the promised period.

The charity has committed to a £250,000 loan secured on property valued in excess of the loaned amount. The loan is repayable over 30 year term and the charity has received pledge forms to help cover repayments of the loan.

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THE REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) HOPE CENTRE

NOTES TO THE ACCOUNTS (CONTINUED)

After making appropriate enquiries and whilst the option to make restricted funds available to cover general costs is available, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements.

1.3 Income

All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

1.4 Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the charity's objectives, as well as any associated support costs.

1.5 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.

1.6 Taxation

The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Income Tax Act 2007, Part 10 Section 521 to Section 537 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

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THE REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) HOPE CENTRE

NOTES TO THE ACCOUNTS (CONTINUED)

1.7 Tangible Fixed Assets

Tangible fixed assets, such as land and buildings, plant, vehicles and equipment, are held to provide an on-going economic benefit to a charity through their contribution, directly or indirectly, to the provision of goods or services by the charity.

Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Building 2.5% Reducing Balance Technical & Musical Equipment 15% Reducing Balance

1.8 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

1.9 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

1.10 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.

1.11 Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

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THE REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) HOPE CENTRE

NOTES TO THE ACCOUNTS (CONTINUED)

1.12 Pensions

The charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the charity to the fund in respect of the year.

1.13 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

2. Donations, Legacies & similar incoming resources
Donations
Donations relating to building fund
Total 2023
3. Activities in furtherance of Charity object
Gift Aid
Total 2023		 Unrestricted
Fund
Restricted
Fund
Total Fund
2024
Total Fund
2023
£
£
£
£
117,349
-
117,349
74,835
-
17,850
17,850
308,928
117,349
17,850
135,199
383,763
74,835
308,928
383,763
Unrestricted
Fund
Restricted
Fund
Total Fund
2024
Total Fund
2023
£
£
£
£
25,357
-
25,357
16,310
25,357
-
25,357
16,310
16,310
-
16,310

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THE REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) HOPE CENTRE

NOTES TO THE ACCOUNTS (CONTINUED)

Unrestricted
Fund
4. Management & Governance Cost
£
Staff Cost
48,619
RCCG gift & other donations
19,365
Travel and accommodation
15,954
Other church expenditure
46,769
Governance costs
3,245
Building costs
-
Depreciation
23,363
157,315
5. Staff Cost
Wages & salaries
Social security costs
Pension
The average number of persons employed by the charity during the year was as follows:
The number of employees whose employee benefits (excluding employer pension costs)
exceeded £60,000 was:
In the band £60,001 - £70,000		 Restricted
Fund
£
-
-
-
12,900
-
-
-		 Total Fund
2024
Total Fund
2023
£
£
48,619
48,279
19,365
12,414
15,954
6,857
59,669
23,585
3,245
3,465
-
98,336
23,363
22,500
12,900 170,215
215,436
2024
£
2023
£
32,369
42,997
13,821
4,464
2,429
818
48,619
48,279
2024
2023
No.
No.
1
1
2024
2023
No.
No.
-
-

6. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2023 - £NIL). During the year ended

31 March 2024, no Trustee expenses have been incurred (2023 - £NIL).

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THE REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) HOPE CENTRE

NOTES TO THE ACCOUNTS (CONTINUED)

7. Tangible Fixed Asset
Cost
At 1 April 2023
Additions during the year
At 31 March 2024
Depreciation
At 1 April 2023
Charged for the year
At 31 March 2024
Net Book Value
At 31 March 2024
At 31 March 2023
8. Debtors
Due within one year - Prepayment & accrued income
Tax recoverable
9. Creditors: Amount falling due within one year
Other loans
Other taxations and social security
Other creditors
Accruals and deferred income
10. Creditors: Amount falling due more than one year
Mortgage		 Building
£
900,000
-		 Technical &
Musical
Equipment
Total
£
£
-
900,000
9,507
9,507
900,000
9,507
909,507
22,500
21,938
-
22,500

1,426
23,363
44,438
1,426
45,863
855,563
8,081
863,643
877,500
-
877,500
2024
2023
£
£
-
-
-
-
-
-
2024
2023
£
£
-
-
1,459
1,132
204
-
900
900
2,563
2,032
2024
2023
£
£
248,134
250,111
248,134
250,111

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THE REDEEMED CHRISTIAN CHURCH OF GOD (RCCG) HOPE CENTRE

NOTES TO THE ACCOUNTS (CONTINUED)

11. Statement of funds

Statement of funds
Statement of funds - current year
Unrestricted fund - General fund
Restricted fund - Building fund
Total of funds
Statement of funds - prior year
Unrestricted fund - General fund
Restricted fund - Building fund
Total of funds		 Balance at
01/04/2023
Income
Expenditure Transfer
Balance at
31/03/2024
£
£
£
£
£
8,499
142,706
157,315
636,744
630,634
636,744
17,850
12,900
(636,744)
4,950
645,243
160,556
170,215
-
635,584
11,954
91,145
94,600
-
8,499
448,652
308,928
120,836
-
636,744
460,606
400,073
215,436
-
645,243

12. Net assets by fund

. Net assets by fund
Net assets by fund - current fund
Tangible fixed assets
Net current assets
Non current liability
Net assets by funds - prior fund
Tangible fixed assets
Net current assets
Non current liability		 Unrestricted
fund
Restricted
fund
Total funds
£
£
£
863,643
-
863,643
20,075
-
20,075
-
(248,134)
(248,134)
883,718
(248,134)
635,584
877,500
-
877,500
17,854
-
17,854
-
(250,111)
(250,111)
895,354
(250,111)
645,243

13. Pension commitments

The charity operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the charity in an independently administered fund. The pension cost charge represents contributions payable by the charity to the fund and amounted to £2,429 (2023: £818).

14. Related party transactions

During the year, trustees donated a total of £54,866 (2023 - £35,466) to the charity.

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