REGISTERED CHARITY NUMBER: 1146525
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
FOR RIVER CHURCH
Brindley Millen Ltd 167 Turners Hill Cheshunt Hertfordshire EN8 9BH
RIVER CHURCH
CONTENTS OF THE FINANCIAL STATEMENTS for the Year Ended 31 December 2022
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 5 |
| Independent Examiner's Report | 6 | ||
| Statement of Financial Activities | 7 | ||
| Balance Sheet | 8 | ||
| Cash Flow Statement | 9 | ||
| Notes to the Cash Flow Statement | 10 | ||
| Notes to the Financial Statements | 11 | to | 18 |
| Detailed Statement of Financial Activities | 19 |
RIVER CHURCH
REPORT OF THE TRUSTEES for the Year Ended 31 December 2022
The trustees present their report with the financial statements of the charity for the year ended 31 December 2022. The trustees have adopted the provisions of 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 (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The charitable aims of River Church are to:
-
advance the Christian faith in the Thames valley, the United Kingdom and the wider world;
-
bring relief to persons who are in need, financial hardship or suffering from illness or deprivation;
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further Christian or secular education in the Thames valley, the United Kingdom and wider world as appropriate;
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benefit the lives of people in the communities where River churches reside; by improving or providing local facilities and activities.
The vision of River Church is to serve our communities and to see transformation through the love and power of God.
River Church employed 12 staff on either a full-time or part-time basis as at 31 December 2022 (2021: 12), including the church leaders and other administration staff and youth workers.
In addition to the employed staff there are many teams of volunteers and helpers across our four churches who together seek to be "salt and light" within our communities to achieve the charity's aims.
Public benefit
In planning the activities of River Church, the trustees have given regard to the Charity Commission's public benefit guidance (Reg 40 (2) (c) (ii)) and particularly the guidance for charities whose objects include the advancement of religion.
River Church provides public benefit in numerous ways that can broadly be categorised as follows:
(a) Christian witness
River Church is an active charismatic evangelical church and member of the wider Pioneer network of churches. River Church seeks mutually positive engagement in all the surrounding communities at every level. An important motivation for this work includes sharing the love of God and promoting Christian values and teaching in order to benefit members and society at large.
(b) Local communities
Finding mutually beneficial areas of engagement within local communities is fundamental to the activities of the church. River Church seeks to both address the spiritual and practical needs of the people amongst whom we live. For example, River Church manages a CAP Debt Centre in Maidenhead that has supported over 85 families across Slough, Maidenhead and Marlow and a multi-agency community hub initiative in Englefield Green.
(c) International communities
Another important focus of River Church is overseas mission work, and poverty relief. These aims embrace the support of both emerging churches, where we seek to share God's love through practical assistance, and also other relief and development agencies and initiatives.
River Church provides ongoing support to its own mission links abroad (e.g. within Hong Kong, Thailand, Nepal, Mozambique and several other countries in Europe, Asia and East Africa) as well as other less regular initiatives as they arise e.g., disaster relief appeals.
The trustees and leadership team would like to thank all members of River Church for their continuing generosity.
Grants
Gifts and grants to external organisations and individuals are considered on the basis of the effective fulfilment of River Church's charitable objectives and after taking account of any restrictions on the funds. There are no upper or lower limits of support but each case is considered and judged on its own merits.
Page 1
RIVER CHURCH
REPORT OF THE TRUSTEES for the Year Ended 31 December 2022
FINANCIAL REVIEW Financial review
General Funds
During the year total incoming resources to General Funds were £373,889 (2021: £351,280) and total resources used from General Funds were £278,524 (2021: £403,845), resulting in a General Fund surplus for the year of £95,365 (2021: £52,565 deficit). Good general regularity of giving continues across the four churches, combined with the continued budgetary spending controls. The trustees introduced enhanced reporting of monthly financial reports at the commencement of the pandemic to allow timely response to changes in income levels resulting from the shift from face-to-face to on-line church services. In broad terms, reductions in income were off-set by reductions in expenditure due to reduction in hall rental.
Designated Funds
Donations to Designated Funds totalled £9,981 (2021: £3,213) with designated expenditure totalling £3,414 (2021: £2,071). The surplus of £6,567 (2021: £1,142 surplus) was added to the surpluses brought forward, after some agreed specific transfers between funds.
Restricted Funds
Restricted Funds income totalled £54,522 for the year (2021: £86,516) with restricted expenditure totalling £76,184 (2021: £74,799). The consequent deficit of £21,662 (2021: £11,717 surplus) was taken from Restricted Funds surpluses brought forward with some agreed transfers from other funds.
At the end of the year, 31st December 2022 the Charity held surpluses totalling £195,252 (2021: £96,038) in General Funds, £20,803 surplus in Designated Funds (2021: £14,236) and £194,521 in Restricted Funds (2021: £220,032).
General Funds continue to exceed the trustees' minimum reserve policy of £75,000 (2021: £75,000) by a good margin.
Bank Balances
River Church bank balances stood at 31st December 2022 at £374,237 (2021: £325,875) which the trustees consider sufficient to meet all foreseeable and future risks now that the 2023 General Fund income and expenditure budget has been approved.
Investment policy and objectives
The trustees of River Church acknowledge they have a key responsibility for good stewardship of church funds. In decision making in these areas the following investment principles and guidelines are considered.
River Church will:
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invest funds in a manner that is consistent with the teachings of Jesus Christ and in line with its charitable objectives;
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handle all funds with integrity, transparency and with good governance;
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invest funds in a way that is both compliant with prevailing charitable law and that balance both the medium- and longer-term needs foreseen;
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invest funds in a manner that seeks to maximise the return or to achieve other agreed aims in line with its charitable objectives;
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formally review the investment policy annually as to its adequacy.
Reserves policy
The trustees have established a policy of maintaining reserves at a level they feel would enable them to continue the current activities of the church in the event of a short-term significant drop in income.
The largest regular operating costs of the charity are staff salaries and church building leases and meeting hall hire. Consequently, the trustees' policy is to maintain sufficient reserves to cover three months of such expenditure (£75K). Unrestricted funds exceeded this level throughout the year despite the pandemic inevitably requiring us to draw from reserves to off-set a reduction in income.
The governing body review the level of reserves annually to confirm their adequacy and the potential risk. At the 31st December 2022 this General Fund "risk reserve" stood at £75,500 (2021: £75,000).
The current total level of reserves remains relatively high mainly due to substantial giving to River Maidenhead's 'Miracle Building Project', CAP debt management designated funds and Englefield Green Community Hub.
In addition, given the extraordinary financial circumstances brought about by the pandemic in 2021, the Trustees recognised the need to reduce operating costs to prevent further erosion of reserves and took the opportunity to vacate their office in Maidenhead at the end of March 2022.
Page 2
RIVER CHURCH
REPORT OF THE TRUSTEES for the Year Ended 31 December 2022
FUTURE PLANS
The key strategies for the charity during 2022 are both to build and to expand on the local community focus work and initiatives where the individual churches reside, i.e., to continue to build churches that develop strong healthy followers of Jesus who bless and serve the community within which they operate. The COVID pandemic presented significant challenges to all aspects of church life as well as our community work, some of which have been successfully met using online platforms, but our activities were inevitably limited during 2021 especially through lock-down. We now seek to emerge from the pandemic in 2022 and rebuild our church communities.
We aim to capitalise on the on-line opportunity that the pandemic created by continuing to build on-line capability and integrate this as a complement to other approaches to church outreach. For example, by using on-line capability to host mid-week meetings for prayer and Bible study thus avoiding the need for additional hall rental costs. We also use on-line capability to 'broadcast' Sunday services to those who are unable to attend in person
Our goals for 2023 are to;
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invest in and train up a new generation of leaders;
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continue to encourage the four churches to remain financially independent so that the central cost overhead is reduced and shared among them;
-to support the development of the four independent churches within a common set of shared values.
-continue the search for a suitable property for the Maidenhead Miracle Building project and to find a new home for our Slough church.
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continue to build and invest in the work of the CAP Debt Centre supporting Maidenhead and Marlow
-
further develop our on-line church capability and community: reaching, connecting and sharing in the digital space
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.
River Church is constituted by memorandum and articles incorporated 27 January 2012, however, in December 2022 River Church converted to become a Charitable Incorporated Organisation with a new written constitution duly received and accepted by the Charities Commission on 15th December 2022. This constitution replaced the 2012 Memorandum and Articles. The limited company therefore closed in December 2022.
Recruitment and appointment of new trustees
The powers of appointment and removal of trustees rests with the 'members' of River Church. Trustees are selected from committed members of the churches that make up River Church. This aims to ensure that the trustee body as a whole is involved practically in working out the church's mission and the trustees have also subscribed to a statement of faith. No trustees are remunerated for their services to River Church.
During 2022 the trustees of River Church met on five occasions. Each meeting of the trustees during the year was led by the Chair of trustees, who is not a member of the spiritual leadership of River Church. The Chair is elected annually by the other non-leadership trustees. Each trustee meeting had a full and balanced agenda covering the spiritual, strategic, performance, financial, legal and risk issues facing the church.
In addition, and in agreement with the Senior Leadership Team River Church re-organised into four distinct and independent churches albeit within the same charitable structure accountable to the existing trustee group. This re-organisation saw the dissolution of the Senior Leadership team with accountability for spiritual leadership moving to the leadership team each church. Principles governing this new organisation were recorded in a 'Governance Agreement' between Church leaders and trustees and a 'Relationship Agreement' between the leaders of each church. These agreements came into effect in January 2022.
As part of the continuing process to improve River Church governance and leadership, 2022 trustee meetings were streamlined for purpose with expertise being co-opted as appropriate. There were "Governance and Financial Health meetings" held with each church which included the 2023 budget approval process.
The senior leadership team (SLT) stepped down in January 2022 as part of the transition to the new structure. Senior spiritual leadership is now be provided to each independent church by leaders from within the Pioneer Network.
agreement between themselves and a Governance agreement with the trustees. These agreements define the principles, practices and values that unite the four churches and clarify the roles, relationship and responsibilities between each church and the trustee group. These agreements came into effect in January 2022.
Page 3
RIVER CHURCH
REPORT OF THE TRUSTEES for the Year Ended 31 December 2022
STRUCTURE, GOVERNANCE AND MANAGEMENT Organisational structure
Local Management
Directions relating to the charity for 2022 were made by the trustees, in consultation with the church leaders, who were responsible for governing the activities and teaching of the church. Day-to-day decisions on the use of resources remained the responsibility of the staff and volunteers in charge of the different departments within the churches.
Expenditure is controlled by budgets set and expense approval monitored by the trustees. The establishment of a new Restricted or Designated Fund is at the joint discretion of the trustees and the leader of each Church.
Network Structure
River Church is a member of the Evangelical Alliance and has a long-standing relationship with Pioneer; a Christian organisation that pursues similar objectives in the United Kingdom and overseas. The church works with Pioneer in assisting other churches and receives help itself where needed.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number
1146525
Registered office
Bank House 81 St Judes Road Englegield Green Surrey TW20 0DF
Trustees
I M Linton S R Tempest Treasurer (resigned 16.1.22) A J Handford M J Holt Chairman M K Porter A Vickers C G Read R J Pymm (resigned 1.6.22)
Company Secretary
Exceed Cosec Services Limited
Independent Examiner
Brindley Millen Ltd 167 Turners Hill Cheshunt Hertfordshire EN8 9BH
Page 4
RIVER CHURCH REPORT OF THE TRUSTEES for the Year Ended 31 December 2022
REPORT OF THE TRUSTEES
| Senior Leadership Team | |
|---|---|
| C Davies | River Church Leader (until October 2021) & River Maidenhead Co-Leader |
| I M Linton | Trustee |
| A Wratten | River Marlow Leader |
| SR Tempest | Trustee |
| A Read | Member |
| CJE Barnes | Theology & Evangelism Leader, River Church |
| Church Leaders | |
| C Davies & A Chisnall | River Maidenhead |
| P Wratten & A Wratten | River Marlow |
| P Gadsdon | The Journey (Englefield Green) (until 31st July 2021) |
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
.............................................................................. M J Holt - Trustee
Page 5
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF RIVER CHURCH
Independent examiner's report to the trustees of River Church ('the Trust')
I report to the charity trustees on my examination of the accounts of the River Church (the Trust) for the year ended 31 December 2022.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of Institute of Chartered Accountants in England & Wales which is one of the listed bodies.
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:
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accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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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.
Maurice Brindley FCA BSc
Brindley Millen Ltd 167 Turners Hill Cheshunt Hertfordshire EN8 9BH
Date: .............................................
Page 6
RIVER CHURCH
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) for the Year Ended 31 December 2022
| Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 382,961 Charitable activities 4 Charitable Church Activities - Investment income 3 909 Other income - Total 383,870 EXPENDITURE ON Charitable activities 5 Charitable Church Activities 281,939 NET INCOME/(EXPENDITURE) 101,931 Transfers between funds 15 3,849 Net movement in funds 105,780 RECONCILIATION OF FUNDS Total funds brought forward 110,274 TOTAL FUNDS CARRIED FORWARD 216,054 |
Restricted funds £ 45,058 - - 9,464 54,522 76,183 (21,661) (3,849) (25,510) 220,032 194,522 |
31.12.22 31.12.21 Total Total funds funds £ £ 428,019 419,713 - 2,024 909 7,182 9,464 12,090 438,392 441,009 358,122 480,715 80,270 (39,706) - - 80,270 (39,706) 330,306 370,012 410,576 330,306 |
31.12.22 31.12.21 Total Total funds funds £ £ 428,019 419,713 - 2,024 909 7,182 9,464 12,090 438,392 441,009 358,122 480,715 80,270 (39,706) - - 80,270 (39,706) 330,306 370,012 410,576 330,306 |
|---|---|---|---|
| 441,009 | |||
| 480,715 | |||
| (39,706) - |
|||
| (39,706) 370,012 |
|||
| 330,306 |
The notes form part of these financial statements
Page 7
RIVER CHURCH (REGISTERED NUMBER: )
BALANCE SHEET 31 December 2022
| Unrestricted funds Notes £ FIXED ASSETS Tangible assets 12 - CURRENT ASSETS Debtors 13 50,578 Cash at bank and in hand 179,716 230,294 CREDITORS Amounts falling due within one year 14 (14,239) NET CURRENT ASSETS 216,055 TOTAL ASSETS LESS CURRENT LIABILITIES 216,055 NET ASSETS 216,055 FUNDS 15 Unrestricted funds Restricted funds TOTAL FUNDS |
Restricted funds £ - - 194,521 194,521 - 194,521 194,521 194,521 |
31.12.22 Total funds £ - 50,578 374,237 424,815 (14,239) 410,576 410,576 410,576 216,055 194,521 410,576 |
31.12.21 Total funds £ 249 49,810 325,865 |
|---|---|---|---|
| 375,675 (45,618) |
|||
| 330,057 | |||
| 330,306 | |||
| 330,306 | |||
| 110,274 220,032 |
|||
| 330,306 |
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. M J Holt - Trustee
............................................. I M Linton - Trustee
The notes form part of these financial statements
Page 8
RIVER CHURCH
CASH FLOW STATEMENT for the Year Ended 31 December 2022
| Notes Cash flows from operating activities Cash generated from operations 1 Net cash provided by/(used in) operating activities Cash flows from investing activities Interest received Net cash provided by investing activities Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period Cash and cash equivalents at the end of the reporting period |
31.12.22 £ 47,463 47,463 909 909 48,372 325,865 374,237 |
31.12.21 £ (64,287) (64,287) 7,182 7,182 (57,105) 382,970 325,865 |
|---|---|---|
The notes form part of these financial statements
Page 9
RIVER CHURCH
NOTES TO THE CASH FLOW STATEMENT
for the Year Ended 31 December 2022
1. RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES
| ACTIVITIES | ||
|---|---|---|
| Net income/(expenditure) for the reporting period (as per the Statement of Financial Activities) Adjustments for: Depreciation charges Interest received Increase in debtors (Decrease)/increase in creditors Net cash provided by/(used in) operations |
31.12.22 £ 80,270 249 (909) (768) (31,379) 47,463 |
31.12.21 £ (39,706) 1,343 (7,182) (37,878) 19,136 |
| (64,287) |
2. ANALYSIS OF CHANGES IN NET FUNDS
| At 1.1.22 | Cash flow | At 31.12.22 | |
|---|---|---|---|
| £ | £ | £ | |
| Net cash | |||
| Cash at bank and in hand | 325,865 | 48,372 | 374,237 |
| 325,865 | 48,372 | 374,237 | |
| Total | 325,865 | 48,372 | 374,237 |
The notes form part of these financial statements
Page 10
RIVER CHURCH
NOTES TO THE FINANCIAL STATEMENTS for the Year Ended 31 December 2022
1. ACCOUNTING POLICIES
Basis of preparing the financial statements and assessment of going concern
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
The trustees consider that there are no material uncertainties about the Charity's ability to continue as a going concern.
The financial statements are presented in sterling (£).
Critical accounting judgements and key sources of estimation uncertainty
In preparing financial statements it is necessary to make certain judgements, estimated and assumptions that affect the amounts recognised in the financial statements. The following judgements and estimates are considered by the trustees to have most significant effect on amounts recognised in the financial statements.
Useful economic life of tangible fixed assets:
The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are reassessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 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.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computers and Sound equipment
- 33% on cost
Taxation
The charity is exempt from corporation tax on its charitable activities. The charity is not VAT registered and therefore all expenditure is shown inclusive of VAT where applicable.
Debtors
Trade and other debtors are recognised at the settlement amount. Prepayments are valued at the amount prepaid.
Cash at bank and in hand
Cash at bank and in hand includes cash, current bank accounts and deposit bank accounts with no withdrawal limitations.
Creditors
Creditors are recognised where then charity has a present obligation resulting from a past event that will result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are recognised at their settlement amount.
continued...
Page 11
RIVER CHURCH
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 December 2022
1. ACCOUNTING POLICIES - continued
Financial Instruments
The charity only has financial assets and 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.
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.
Designated funds are unrestricted funds which have been set aside by the trustees for particular purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
2. DONATIONS AND LEGACIES
| Donations Gift aid Grants Grants received, included in the above, are as follows: Acts 435 Community Foundation for Surrey CNC Property National Lottery Community Foundation Surrey County Council The Schroder Charity Windsor & Mhd Christian Trust Other grants 3. INVESTMENT INCOME Deposit account interest |
31.12.22 £ 353,437 68,846 5,736 428,019 31.12.22 £ - - - - 1,800 2,200 - 1,736 5,736 31.12.22 £ 909 |
31.12.21 £ 331,732 61,643 26,338 |
|---|---|---|
| 419,713 | ||
| 31.12.21 £ 540 10,000 2,000 8,898 1,000 1,900 2,000 - 26,338 31.12.21 £ 7,182 |
continued...
Page 12
RIVER CHURCH
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 December 2022
4. INCOME FROM CHARITABLE ACTIVITIES
| Activity Youth & Children Charitable Church Activities 5. CHARITABLE ACTIVITIES COSTS Direct Costs £ Charitable Church Activities 339,844 6. GRANTS PAYABLE Charitable Church Activities 7. SUPPORT COSTS Charitable Church Activities 8. NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): Depreciation - owned assets Independent Examination |
Grant funding of activities (see note 6) £ 4,005 |
31.12.22 31.12.21 £ £ - 2,024 Support costs (see note 7) Totals £ £ 14,273 358,122 31.12.22 31.12.21 £ £ 4,005 - Governance costs £ 14,273 31.12.22 31.12.21 £ £ 249 1,343 2,760 2,700 |
|---|---|---|
9. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2022 nor for the year ended 31 December 2021.
No trustees received remuneration or expenses during the year in their role as trustee.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2022 nor for the year ended 31 December 2021.
continued...
Page 13
RIVER CHURCH
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 December 2022
10. STAFF COSTS
| Wages and salaries Social security costs Other pension costs The average monthly number of employees during the year was as follows: All staff |
31.12.22 £ 153,702 7,794 4,476 165,972 31.12.22 12 |
31.12.21 £ 271,964 16,735 8,344 |
|---|---|---|
| 297,043 | ||
| 31.12.21 12 |
No employees received emoluments in excess of £60,000.
The key management personnel of the charity, comprise the trustees and the Leadership team (as listed in the report of the trustees). The total employee benefits of the key management of the charity were £36,652 (2021: £133,123).
11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted funds £ INCOME AND ENDOWMENTS FROM Donations and legacies 339,516 Charitable activities Charitable Church Activities 2,024 Investment income 7,182 Other income 5,771 Total 354,493 EXPENDITURE ON Charitable activities Charitable Church Activities 405,916 NET INCOME/(EXPENDITURE) (51,423) Transfers between funds (3,773) Net movement in funds (55,196) RECONCILIATION OF FUNDS Total funds brought forward 165,470 TOTAL FUNDS CARRIED FORWARD 110,274 |
Restricted funds £ 80,197 - - 6,319 86,516 74,799 11,717 3,773 15,490 204,542 220,032 |
Total funds £ 419,713 2,024 7,182 12,090 |
|---|---|---|
| 441,009 | ||
| 480,715 | ||
| (39,706) - |
||
| (39,706) 370,012 |
||
| 330,306 |
This note shows the previous years statement of financial activities for River Church as a comparative to the statement for the current year on page 6.
continued...
Page 14
RIVER CHURCH
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 December 2022
12. TANGIBLE FIXED ASSETS
| COST At 1 January 2022 and 31 December 2022 DEPRECIATION At 1 January 2022 Charge for year At 31 December 2022 NET BOOK VALUE At 31 December 2022 At 31 December 2021 13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other debtors Tax reclaimable Prepayments 14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors Social security and other taxes Other creditors Accrued expenses 15. MOVEMENT IN FUNDS Net movement At 1.1.22 in funds £ £ Unrestricted funds General fund 96,038 95,365 Congregational Fund 2,819 5,490 Community Support 11,417 1,077 110,274 101,932 Restricted funds Community Support 211,584 (19,055) International Support 7,764 (2,229) Missions Fund 684 (378) 220,032 (21,662) TOTAL FUNDS 330,306 80,270 |
Computers and Sound equipment £ 25,656 25,407 249 25,656 - 249 31.12.22 31.12.21 £ £ 250 500 46,161 45,588 4,167 3,722 50,578 49,810 31.12.22 31.12.21 £ £ 421 58 2,777 4,943 508 1,909 10,533 38,708 14,239 45,618 Transfers between At funds 31.12.22 £ £ 3,849 195,252 - 8,309 - 12,494 3,849 216,055 47 192,576 (3,596) 1,939 (300) 6 (3,849) 194,521 - 410,576 |
|---|---|
continued...
Page 15
RIVER CHURCH
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 December 2022
15. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Congregational Fund Community Support Restricted funds Community Support International Support Missions Fund TOTAL FUNDS |
Incoming resources £ 373,889 7,406 2,575 383,870 45,236 7,635 1,651 54,522 438,392 |
Resources Movement expended in funds £ £ (278,524) 95,365 (1,916) 5,490 (1,498) 1,077 (281,938) 101,932 (64,291) (19,055) (9,864) (2,229) (2,029) (378) (76,184) (21,662) (358,122) 80,270 |
|---|---|---|
Comparatives for movement in funds
| Unrestricted funds General fund Congregational Fund Community Support Restricted funds Community Support International Support Missions Fund TOTAL FUNDS |
Net movement At 1.1.21 in funds £ £ 163,026 (52,565) - (275) 2,444 1,417 165,470 (51,423) 193,543 14,268 10,360 (2,596) 639 45 204,542 11,717 370,012 (39,706) |
Transfers between funds £ (14,423) 3,094 7,556 (3,773) 3,773 - - 3,773 - |
At 31.12.21 £ 96,038 2,819 11,417 110,274 211,584 7,764 684 220,032 330,306 |
|---|---|---|---|
continued...
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RIVER CHURCH
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 December 2022
15. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Congregational Fund Community Support Restricted funds Community Support International Support Missions Fund TOTAL FUNDS |
Incoming resources £ 351,280 700 2,513 354,493 66,130 17,416 2,970 86,516 441,009 |
Resources Movement expended in funds £ £ (403,845) (52,565) (975) (275) (1,096) 1,417 (405,916) (51,423) (51,862) 14,268 (20,012) (2,596) (2,925) 45 (74,799) 11,717 (480,715) (39,706) |
|---|---|---|
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund Congregational Fund Community Support Restricted funds Community Support International Support Missions Fund TOTAL FUNDS |
Net movement At 1.1.21 in funds £ £ 163,026 42,800 - 5,215 2,444 2,494 165,470 50,509 193,543 (4,787) 10,360 (4,825) 639 (333) 204,542 (9,945) 370,012 40,564 |
Transfers between funds £ (10,574) 3,094 7,556 76 3,820 (3,596) (300) (76) - |
At 31.12.22 £ 195,252 8,309 12,494 216,055 192,576 1,939 6 194,521 410,576 |
|---|---|---|---|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Congregational Fund Community Support Restricted funds Community Support International Support Missions Fund TOTAL FUNDS |
Incoming resources £ 725,169 8,106 5,088 738,363 111,366 25,051 4,621 141,038 879,401 |
Resources Movement expended in funds £ £ (682,369) 42,800 (2,891) 5,215 (2,594) 2,494 (687,854) 50,509 (116,153) (4,787) (29,876) (4,825) (4,954) (333) (150,983) (9,945) (838,837) 40,564 |
|---|---|---|
continued...
Page 17
RIVER CHURCH
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 December 2022
15. MOVEMENT IN FUNDS - continued
Designated funds Congregational Fund Represents monies given for the purposes of building up our church members in faith and wellbeing. Social Action These funds are designated for the purposes of building and growing community support and outreach ministries. Other shared funds These other purposes include building project and funding for youth activities. Restricted Funds Community Support These funds are given specifically for the purposes of building and growing community support and other community outreach ministries. International Support This represents monies given specifically for a number of overseas Christian ministries and churches that the charity supports. Missions Fund These funds are used solely for the support of the charity's missionaries.
16. CONTINGENT ASSETS
The charity has been notified at the beginning of 2023, that it will be the sole beneficiary of Mary Drew's (a former River Church attendee) substantial estate.
17. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2022.
18. DONATED GOODS AND SERVICES
Total donations gifted by trustees and related parties in the year was £28,520.00 (ie. trustees and their spouses)
Page 18
RIVER CHURCH
DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31 December 2022
| DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31 December 2022 |
||
|---|---|---|
| 31.12.22 | 31.12.21 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 353,437 | 331,732 |
| Gift aid | 68,846 | 61,643 |
| Grants | 5,736 | 26,338 |
| 428,019 | 419,713 | |
| Investment income | ||
| Deposit account interest | 909 | 7,182 |
| Charitable activities | ||
| Youth & Children | - | 2,024 |
| Other income | ||
| Contribution to Services | 9,464 | 6,319 |
| Job Retention Scheme | - | 5,771 |
| 9,464 | 12,090 | |
| Total incoming resources | 438,392 | 441,009 |
| EXPENDITURE | ||
| Charitable activities | ||
| Wages | 153,702 | 271,964 |
| Social security | 7,794 | 16,735 |
| Pensions | 4,476 | 8,344 |
| Rates and water | 7,250 | 17,125 |
| Insurance | 1,795 | 2,229 |
| Sundries | 86 | 329 |
| Direct Costs of Activities | 97,625 | 70,664 |
| Communication | 7,519 | 4,439 |
| Office Equipment | 6,731 | 15,629 |
| Missionary Support | 52,617 | 53,242 |
| Depreciation of tangible fixed assets | 249 | 1,343 |
| Grants to institutions | 4,005 | - |
| 343,849 | 462,043 | |
| Support costs | ||
| Governance costs | ||
| Accountancy and legal fees | 14,273 | 18,672 |
| Total resources expended | 358,122 | 480,715 |
| Net income/(expenditure) | 80,270 | (39,706) |
This page does not form part of the statutory financial statements
Page 19