## River Church
Report and Accounts Year ended 31 December 2023
1 Lamb's Passage, London EC1Y 8AB www.stewardship.org.uk
## **RIVER CHURCH**
## **CHARITY INFORMATION**
## **FOR THE YEAR ENDED 31 DECEMBER 2023**
## **Trustees**
Michael John Holt Graham Leslie Burgess Caroline Grace Read Mary Kathleen Porter Alistair John Handford Ian Linton (resigned January 2024) A Vickers (resigned January 2023) Chris May (resigned April 2024) Ruth Abigail Parry (appointed April 2023
## **Treasurer**
Nigel Rivers (appointed June 2023)
## **Church Leaders**
Ceri Davies (until Dec 23) & Adam Chisnall Paul Wratten & Anthea Wratten Julie Ioakeim Rachael Pymm, Catherine France, Joel Clarke (until Apr 24), Luke Saunders (from Jun 24)
River Maidenhead River Marlow River Slough The Journey (Englefield Green)
**Governing Document**
Constitution dated 15 December 2022
**Charity Registration Number**
1146525
**Principal Address & Registered Office**
From 1 August 2024: _Until 1 August 2024:_ 1 Meadlake Place _Bank House_ Egham _81 St Judes Road_ Surrey _Englefield Green_ TW20 8HE _Surrey TW20 0DF_
## **Independent Examiner**
Sarah Crispin ACA Stewardship 1 Lamb's Passage London EC1Y 8AB
## **Bankers**
CAF Bank Ltd Metro Bank 25 Kings Hill Avenue, Kings Hill, 1 Southampton Row West Malling London ME19 4JQ WC1B 5HQ
## **Contents**
|||
|---|---|
|**Contents**|**Page**|
|Charity Information|1|
|Trustees' Annual Report|2-8|
|Independent Examiner's Report|9|
|Statement of Financial Activities|10|
|Balance Sheet|11|
|Cash flow Statement|12|
|Notes to the Accounts|13-20|
|Detailed Statement of Financial Activities with Comparatives|21|
Page 1
## **RIVER CHURCH REPORT OF THE TRUSTEES for the Year Ended 31 December 2023**
The trustees present their report with the financial statements of the charity for the year ended 31 December 2023. 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;
- Further Christian or secular education in the Thames Valley, the United Kingdom and wider world as appropriate;
- 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 10 staff on either a full-time or part-time basis as at 31 December 2023 (2022: 10, 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**
Page 2
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. Following a couple of difficult years during the pandemic we celebrated the growth within our four churches with new people joining our church family through outreach and mission alongside welcoming back families moving back into the area. Three people were baptised by The Journey Church (Englefield Green) and four were baptised in Maidenhead as they took to the water to express their faith and trust in following Jesus.
The Slough church relocated their Sunday gathering during 2023 from a temporary base in Taplow to a new base within Slough.
As well as their regular Sunday services, Marlow church run monthly Family Gatherings which continue to grow. This has seen more young families joining us.
## **(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 across our very diverse neighbourhoods.
River Church in Maidenhead manages a CAP Debt Centre that has supported over 85 families across Slough, Maidenhead and Marlow and Windsor. We increased the size of the Debt Centre during 2023 with the training of a second debt coach thus increasing our capacity, flexibility and efficiency. We operate in close liaison to the Job Centre and housing associations to promote the Debt support service to those in need of support.
We run a multi-agency community hub initiative in Englefield Green in association with Runnymede Council. Activities included community lunches (including a summer BBQ and Christmas roast dinner), regular worship writing workshops, Christmas community carol service. We continued to enjoy success and high attendance of Hub community clubs including gardening, kids club, and community cafe. In addition, we had stand at the Englefield Green Village Fair.
In Slough, we launched a new initiative called ‘Giving Hope Furniture’ at the end of 2023 which aims to provide free or low-cost furniture to people in need within Slough. This initiative has already received recognition from Slough Council.
Our Marlow church focussed on Mission, Vision, Values to help people to understand scripture and live it out. We continued to run Kintsugi Hope Mental Health Wellbeing Groups - an exciting and relevant way to serve our community with this excellent resource to support those experiencing mental health challenges.
Page 3
Our parents/grandparents and toddlers group continues to run weekly during term-times supporting many people each week. We have been encouraged that several older people have become regulars who come along for coffee and support.
‘Patches Field lunch’ is an outreach group in a sheltered housing complex for older people. This has gone from strength to strength, and we have built relationships and been able to serve in other ways as well as the lunch, such as cleaning the garden, taking people to appointments, visiting people in hospital, praying with the sick and dying and attending funerals. We continue to play a key role in Marlow Churches together and once again, were involved with ‘Lighthouse’ a Churches Together in Marlow children's week initiative.
We set up a ‘Redistribution fund’ - where church members who had received winter fuel payments they did not need - gave them to the fund which we were able to redistribute to those in need.
## **(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 (eg. 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.
## **(d) 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. The trustees oversee a Hardship Fund which allows for small gifts to be made to individuals of families in urgent need. These small gifts (typically less than £500) are made at the request of church leaders.
## **FINANCIAL REVIEW**
## **Financial review General Funds**
During the year total incoming resources to General Funds were £1,026,049 (2022: £373,889) and total resources used from General Funds were £341,480 (2022: £278,524), resulting in a General Fund surplus for the year of £684,569 (2022: £95,365). Included in this income is a
Page 4
legacy gift of £679,750 from a church member who died in the year. Good general regularity of giving continues across the four churches, combined with the continued budgetary spending controls.
## **Designated Funds**
Donations to Designated Funds totalled £11.076 (2022: £9,981) with designated expenditure totalling £20,184 (2022: £3,414). The deficit of £9,108 (2022: surplus of £6,567) was added to the surpluses brought forward, after some agreed specific transfers between funds.
## **Restricted Funds**
Restricted Funds income totalled £53,407 (2022: £54,522) for the year with restricted expenditure totalling £78,043 (2022: £76,184). The consequent deficit of £24,636 (2022: £21,662) was taken from Restricted Funds surpluses brought forward with some agreed transfers from other funds.
At the end of the year, 31st December 2023, the Charity held surpluses totalling £879,713 (2022: £195,252) in General Funds, £6,802 (2022: £20,803) surplus in Designated Funds and £174,885 (2022: £194,521) in Restricted Funds.
General Funds continue to exceed the trustees' minimum reserve policy of £75,000 (2022: £75,000) by a good margin.
## **Bank Balances**
River Church bank balances at 31st December 2023 stood at £862,874 (2022: £374,237) which the trustees consider sufficient to meet all foreseeable and future risks now that the 2024 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:
- Invest funds in a manner that is consistent with the teachings of Jesus Christ and in line with its charitable objectives;
- Handle all funds with integrity, transparency and with good governance;
- Invest funds in a way that is both compliant with prevailing charitable law and that balance both the medium- and longer-term needs foreseen;
- Invest funds in a manner that seeks to maximise the return or to achieve other agreed aims in line with its charitable objectives;
- Formally review the investment policy annually as to its adequacy.
Page 5
## **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.
The governing body review the level of reserves annually to confirm their adequacy and the potential risk. At the 31st of December 2023 this General Fund "risk reserve" stood at £75,000 (2022: £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. The church also benefitted from a legacy gift in 2023, of which £649,849 was held at the balance sheet date.
## **FUTURE PLANS**
The key strategies for the charity during 2024 are both to build and to expand on the local community focus work and initiatives where the individual churches reside, ie., to continue to build churches that develop strong healthy followers of Jesus who bless and serve the community within which they operate.
We aim to capitalise on the online opportunity that the pandemic created by continuing to build online capability and integrate this as a complement to other approaches to church outreach. For example, by using online capability to host mid-week meetings for prayer and Bible study thus avoiding the need for additional hall rental costs. We also use online capability to 'broadcast' Sunday services to those who are unable to attend in person.
Our goals for 2024 are to;
- invest in and train up a new generation of leaders;
- 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 suitable location for the continuation of our Giving Hope Furniture project in Slough. - continue to build and invest in the work of the CAP Debt Centre supporting Maidenhead and Marlow
Page 6
- further develop our online church capability and community: reaching, connecting and sharing in the digital space
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
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 attendees 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 2023 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.
## **Local Management**
Directions relating to the charity for 2023 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.
Ceri Davies stepped down as co-leader of River Maidenhead after 10 years in the role. The trustees thanked Ceri for her significant service during that time.
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 in consultation with 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
Page 7
overseas. The church works with Pioneer in assisting other churches and receives help itself where needed.
## **RESPONSIBILITIES OF TRUSTEES UNDER CHARITY LAW**
The trustees are responsible for preparing the trustees' annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Charity law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of the affairs of the charity as at the balance sheet date and of its incoming resources and application of resources, including income and expenditure, for the financial year. In preparing these financial statements, the trustees are required to:
1. select suitable accounting policies and apply them consistently;
2. observe the methods and principles in the Charities SORP;
3. make judgments and estimates that are reasonable and prudent;
4. state whether the applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
5. 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 that 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 and the Charity (Accounts and Reports) Regulations 2008. 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 board of trustees signed on its behalf by:
## MJHolt
> MJHolt (Nov 7, 2024 10:21 GMT) ..............................................................................
M J Holt – Trustee
Nov 7, 2024 Date …………………………………………………………………..
Page 8
## **INDEPENDENT EXAMINER'S REPORT**
## **TO THE TRUSTEES OF**
## **RIVER CHURCH ('the Charity')**
I report to the charity trustees on my examination of the accounts of the Charity for the year ended 31 December 2023 on pages 10 to 21 following, which have been prepared on the basis of the accounting policies set out on pages 13 to 14.
## **Responsibilities and basis of report**
As the charity’s trustees of the Charitable Incorporated Organisation 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 Charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. This examination was performed in the place of an audit, as authorised by the Charity Commission in a dispensation granted on 6 November 2024 under Regulation 34(3)(b) of the Charities (Accounts and Reports) Regulations 2008.
## **Independent examiner’s statement**
Since the Charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England & Wales, which is one of the listed bodies.
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:
1. accounting records were not kept in respect of the Charity 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.
Sarah Crispin (Nov 7, 2024 14:16 GMT)Sarah Crispin
Sarah Crispin ACA Institute of Chartered Accountants in England & Wales Stewardship 1 Lamb's Passage London EC1Y 8AB
Date: Nov 7, 2024
Page 9
## **RIVER CHURCH**
## **STATEMENT OF FINANCIAL ACTIVITIES**
## **FOR THE YEAR ENDED 31 DECEMBER 2023**
|Note
**INCOME AND ENDOWMENTS FROM:**
Donations and legacies
3
Charitable activities
4
Investments
5
**Total income and endowments**
**EXPENDITURE ON:**
Charitable activities
6
**Total expenditure**
**Net income/(expenditure)**
**Transfers between funds**
17
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**
17|Unrestricted
Funds
£
1,031,340
63
5,722
1,037,125
361,664
361,664
675,461
(5,000)
670,461
216,055
886,516|Restricted
Funds
£
47,883
5,523
-
53,407
78,043
78,043
(24,636)
5,000
(19,636)
194,521
174,885|Total
Total
Funds
Funds
2023
2022
£
£
1,079,223
428,019
5,586
9,464
5,722
909
1,090,531
438,392
439,706
358,122
439,706
358,122
650,825
80,270
-
-
650,825
80,270
410,576
330,306
1,061,401
410,576|
|---|---|---|---|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing operations.
The notes on page 13-20 form part of these accounts.
Page 10
## **RIVER CHURCH**
## **BALANCE SHEET**
## **AS AT 31 DECEMBER 2023**
|Note
**FIXED ASSETS**
Tangible assets
8
**CURRENT ASSETS**
Debtors
9
Cash at bank and in hand
10
**CREDITORS: Amounts falling**
**due within one year**
11
**Net current assets / (liabilities)**
**Total assets less current liabilities**
**TOTAL NET ASSETS**
**FUND BALANCES**
17
Unrestricted Funds
General funds
Designated funds
Restricted Funds|Unrestricted
Funds
£
-
-
216,727
687,989
904,716
(18,200)
886,516
886,516
886,516
879,714
6,802
886,516
-
886,516|Restricted
Funds
£
-
-
-
174,885
174,885
-
174,885
174,885
174,885
-
-
-
174,885
174,885|Total
Funds
2023
£
-
-
216,727
862,874
1,079,601
(18,200)
1,061,401
1,061,401
1,061,401
879,714
6,802
886,516
174,885
1,061,401|Total
Funds
2022
£
-|
|---|---|---|---|---|
|||||-|
|||||50,578
374,237|
|||||424,815
(14,239)|
|||||410,576|
||||||
|||||410,576|
|||||410,576|
|||||195,252
20,803|
|||||216,055
194,521|
|||||410,576|
The charity has been granted an audit dispensation under Regulation 34(3)(b) of the Charities (Accounts and Reports) Regulations 2008 for the year ended 31 March 2024.
The financial statements were approved by the Board of Trustees and were signed on its behalf by:
MJHolt MJHolt (Nov 7, 2024 10:21 GMT) --------------------------------------M J Holt Nov 7, 2024 Date: ___________________
Charity number: 1146525
The notes on page 13-20 form part of these accounts.
Page 11
## **RIVER CHURCH**
## **FOR THE YEAR ENDED 31 DECEMBER 2023**
## **CASH FLOW STATEMENT**
|Note
2023
£
**Cash flows from operating activities:**
**_Net cash provided by/(used in) operating activities_**
a
482,915
**Cash flows from investing activities:**
Dividends, interest and rents from investments
5,722
Purchase of property, plant and equipment
-
**_Net cash provided by/(used in) investing activities_**
5,722
488,637
b
374,237
b
862,874
**Analysis of changes in net debt:**
At start of
year
Cash-flows
£
£
Cash
374,237
488,637
Total net funds / (debt)
374,237
488,637
**Note a: Reconciliation of net income/(expenditure) to net cash flow from operating activities**
2023
£
650,825
**Adjustments for:**
Depreciation charges and provisions for impairment
-
Dividends, interest and rents from investments
(5,722)
(Increase)/decrease in debtors
(166,149)
Increase/(decrease) in creditors
3,961
**_Net cash provided by (used in) operating activities_**
482,915
**Note b: Analysis of cash and cash equivalents**
2023
£
Cash at bank with immediate access
716,203
Notice deposits
146,671
**Total cash and cash equivalents**
862,874
**_Net income/(expenditure) for the reporting period (as per the statement of financial_**
**_activities)_**
**Cash and equivalents at the beginning of the year**
**_Cash and cash equivalents at the end of the year_**
**_Change in cash and equivalents in the reporting period_**|2022
£
47,463|
|---|---|
||909
-|
||909|
|||
||48,372
325,865|
||374,237|
||At end of
year
£
862,875|
||862,875|
||2022
£
80,270
250
(909)
(768)
(31,379)|
||47,463|
||2022
£
374,237
-|
||374,237|
Page 12
## **RIVER CHURCH**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 31 DECEMBER 2023**
## **1 Statutory Information**
The charity is a charitable incorporated organisation registered with the Charity Commission in England & Wales. The charity's registered number and principal address can be found on the Charity Information page.
## **2 Accounting Policies**
These financial statements are prepared on a going concern basis, under the historical cost convention.
These financial statements have been prepared in accordance with the "Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) ("the Charities SORP"), with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland ("FRS 102") and with the Charities Act 2011. The charity meets the definition of a public benefit entity as set out in FRS 102.
The Charities (Accounts and Reports) Regulations 2008 (the '2008 Regulations') requires charities to prepare their accounts in accordance with 'Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005' but this accounting standard has since been withdrawn and has been replaced by the Charities SORP mentioned in the preceding paragraph. The charity has prepared these financial statements in accordance with the new Charities SORP; this departure from the 2008 Regulations is believed to be necessary for these financial statements to give a 'true and fair view'.
The principles adopted in the preparation of the financial statements are set out below.
## a) Going concern
The trustees (who are the charitable company's directors for the purposes of company law) have assessed whether the use of the going concern basis is appropriate and have considered possible events or conditions that might cast significant doubt on the ability of the charity to continue as a going concern. The trustees have made this assessment for a period of at least one year from the date of approval of the financial statements. In particular the trustees have considered the charity's forecasts and projections and the possible implications should projected income and / or expenditure vary unexpectedly. The trustees have concluded that there is a reasonable expectation that the charity has adequate resources to continue to operate for the foreseeable future. The charity therefore continues to adopt the going concern basis in preparing its financial statements.
## b) Income
Income including investment income is recognised in the period in which the charity becomes entitled to receipt, the amount receivable can be measured with reasonable certainty, and receipt is probable. For the most part, income is generally recognised when it is received. Income is only deferred when the charity has to fulfil conditions before becoming entitled to it or where the donor has specified that the income is to be expended in a future period.
Income from donations and legacies includes:
- i) Recoverable gift aid. This is recognised when the related donation is received. Gift aid that has not been recovered by the balance sheet date is included as a debtor.
- ii) Legacies. Income from legacies is recognised when a distribution is received from the estate or, if earlier, when the charity has been notified that a distribution will be made and the amount receivable can be measured reliably. During the year, the charity received a single legacy which comprised cash & a property. Part of the cash legacy was received during 2024 and included as accrued income in these accounts. The property was sold and the proceeds recognised on sale. The associated costs are shown as 'Legacy costs' in expenditure.
The charity relies on volunteers to carry out many of its activities. However, in accordance with the SORP, the value of these services has not been included in these financial statements as they cannot be reliably measured.
Income from charitable activities represents income receivable from goods, services and facilities supplied in furtherance of the charity's charitable objects. It includes income from facilities hire which represents contributions to services from other community groups using the Forest Estate Community Hub.
Investment income represents income generated by the charity's assets and includes income from bank interest.
- c) Expenditure Expenditure, including irrecoverable VAT, is recognised when it is incurred or, if earlier, when a legal or constructive obligation for a payment arises provided that it is probable that settlement will be required and the amount of the obligation can be measured
The charity makes grants to other institutions and individuals to further its charitable objectives. Grants payable are recognised as constructive obligations arise, which is generally when the charity expresses a commitment to the recipient that can be measured reliably and then only to the extent that any conditions associated with the grant are outside of the control of the charity.
The cost of raising funds is not significant and has not been separately disclosed.
Page 13
## **RIVER CHURCH**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 31 DECEMBER 2023**
## **2 Accounting Policies (cont.)**
Governance costs, which are included in expenditure on charitable activities but are identified separately in the notes to the accounts, includes costs associated with the independent examination of the financial statements, compliance with constitutional and statutory requirements and any other expenditure incurred on the strategic management of the charity.
d) 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. Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. Restricted funds are donations which are to be used in accordance with specific restrictions imposed by donors; they include donations received from appeals for specific activities or projects. Endowment funds are donations that are retained as capital in accordance with the donor's wishes. The nature of the restriction determines whether the endowments represent permanent endowments or expendable endowments.
e) Tangible fixed assets Items purchased or donated for the charity's own use are capitalised when the cost of purchased items, or the fair value of donated items, is more than £10,000 and the item is expected to benefit the charity over more than one accounting period. Depreciation is charged on a straight line basis so as to write down the value of each asset to its estimated residual value (if any) over its expected useful economic life. To achieve this objective the following rates of depreciation are charged:
Computers & Sound Equipment Over 3 years
The carrying values of tangible fixed assets are reviewed for impairment in periods when events or changes in circumstances indicate that the carrying value may not be recoverable.
f) Pension scheme arrangements The charity operates defined contribution pension schemes for its employees. Obligations for contributions to these schemes are recognised as an expense when the liability arises. The assets of these schemes are held separately from those of the charity in independently administered funds.
g) Taxation The charity has taken advantage of the various reliefs from taxation available to charities and no tax is payable on the charity's income.
h) Financial instruments The charity's financial assets and financial liabilities all qualify as basic financial instruments, as defined by FRS102. Except for loans, creditors and debtors are measured at their expected settlement value (normally the amount of cash that the charity expects to pay or receive). The charity recognises liabilities for the principal of those loans that remains outstanding at the year end (i.e. the liabilities exclude any interest chargeable on the loans in future years).
i) Critical accounting estimates and areas of judgement The trustees do not consider that there are any material sources of estimation or uncertainty at the balance sheet date that could result in a material adjustment to the carrying values of assets and liabilities in the next reporting period.
## **3 Donations and legacies**
|**3**
**Donations and legacies**|||
|---|---|---|
|Donations of cash and similar
Other grants receivable
Legacies receivable
Income tax recoverable
**4**
**Income from charitable activities**
Forest Hub - Facilities Hire|2023
£
321,127
10,211
679,750
68,136
1,079,223
2023
£
5,586
5,586|2022
£
353,437
5,736
-
68,846|
|||428,019|
|||2022
£
9,464|
|||9,464|
Page 14
## **RIVER CHURCH**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 31 DECEMBER 2023**
## **5 Investment income**
Bank interest
|2023
£
5,722
5,722|2022
£
909|
|---|---|
||909|
|**Charitable expenditure**
Incurred directly on activities
Salaries, travel & training
Church ministry costs
Outreach & events
CAP Debt centre running costs
Equipment
Premises expenses including venue hire
Communications
Legacy costs
Grants payable (note 6c)
Support costs
Professional fees
Office costs & insurance
Governance
Incurred directly on activities
Salaries, travel & training
Church ministry costs
Outreach & events
CAP Debt centre running costs
Equipment
Premises expenses including venue hire
Communications
Grants payable (note 6c)
Support costs
Professional fees
Office costs & insurance
Depreciation of tangible fixed assets
Governance|Church
Activities
152,325
12,936
20,152
-
17,824
46,281
4,185
29,901
56,862
11,608
10,089
4,368
366,533
Church
Activities
131,960
22,791
4,512
-
5,365
45,673
7,008
57,837
7,474
6,648
250
5,420
294,938|CAP Debt
Centre
33,512
-
-
1,323
538
278
46
-
7,200
253
12
95
43,258
CAP Debt
Centre
21,401
-
-
1,089
-
-
-
7,200
437
-
-
317
30,444|Forest
Hub
19,348
-
3,719
-
985
4,923
135
-
33
256
419
96
29,916
Forest
Hub
16,794
-
8,720
-
1,833
4,566
-
-
362
202
-
263
32,740|Total
Charitable
Expenditure
2023
205,185
12,936
23,871
1,323
19,347
51,483
4,366
29,901
64,096
12,118
10,520
4,560|
|---|---|---|---|---|
|||||439,706|
||||||
||||||
|||||Total
Charitable
Expenditure
2022
170,154
22,791
13,232
1,089
7,198
50,239
7,008
65,037
8,273
6,851
250
6,000|
|||||358,122|
||||||
## **6 Charitable expenditure**
As the charity's income is over £500,000 in the current year, expenditure is disclosed by charitable activity. The disclosure for the previous year has been restated to provide a comparative.
Professional fees and Governance costs are allocated to the CAP Debt Centre and the Forest Hub based on the proportion of total income restricted to these projects.
The fee payable to the independent examiner for preparing and examining the accounts was £4,560 (2022: £6,000); in addition the charity paid £210 to Stewardship for consultancy services.
Page 15
## **RIVER CHURCH**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 31 DECEMBER 2023**
## **6 Charitable expenditure (cont.)**
## **c Grants payable**
|Institutions
£
Grants for UK and overseas mission
23,542
Grants for the relief of poverty
7,240
30,782
The comparatives for the previous year are as follows:
Institutions
£
Grants for UK and overseas mission
28,088
Grants for the relief of poverty
8,898
36,986
The charity's principal grants to institutions comprised:
Pioneer
Frontiers
Light International
Friends of Asha
Christians Against Poverty
Grants to institutions for less than £1,000 each
Gross wages and salaries
Social security
Pension costs
**Analysis of staff costs, the cost of key management personnel and trustee remuneration**|Individuals
£
17,519
15,794
33,314
Individuals
£
23,285
4,766
28,051
2023
£
9,292
3,000
7,333
3,000
7,200
957
30,782
2023
£
172,241
2,655
5,005
179,901|2023
£
41,061
23,034|
|---|---|---|
|||64,096|
|||2022
£
51,373
13,664|
|||65,037|
|||2022
£
8,197
11,611
8,000
-
7,200
1,978|
|||36,986|
|||2022
£
153,702
7,794
4,476|
|||165,972|
- **7 Analysis of staff costs, the cost of key management personnel and trustee remuneration**
The average monthly number of employees during the year was 9 (2022: 12). Most of the charity's activities are carried out by volunteers.
No staff received salaries at a rate of more than £60,000 per annum.
The charity's key management comprise the trustees and the church leaders on the Charity Information page. During the year key management received employment benefits totalling £87,157 (2022: £36,652).
Payroll costs included redundancy and termination payments totalling £10,062 (2022: £nil) and comprise statutory payments and ex-gratia payments where this was considered appropriate. Redundancy and termination payments are charged when the liability or obligation arises.
No trustees received employment benefits in either the current or preceding year.
Page 16
## **RIVER CHURCH**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 31 DECEMBER 2023**
## **8 Tangible fixed assets**
|Cost
At 1 January 2023
Additions
At 31 December 2023
Accumulated depreciation
At 1 January 2023
Charge for the year
At 31 December 2023
Net book value
At 31 December 2023
At 31 December 2022
**9**
**Debtors: falling due within one year**
Tax recoverable
Other debtors
Prepayments and accrued income
**10**
**Cash at Bank and in Hand**
Cash at bank with immediate access
Notice deposits
**11**
**Creditors: liabilities falling due within one year**
Trade creditors
Taxation and social security
Other creditors
Accruals|Computers
& Sound
Equipment
£
25,656
-
25,656
25,656
-
25,656
-
-
2023
£
11,063
503
205,161
216,727
2023
£
716,203
146,671
862,874
2023
£
185
3,520
3,794
10,701
18,200|Total
2023
£
25,656
-|
|---|---|---|
|||25,656|
|||25,656
-|
|||25,656|
|||-|
|||-|
|||2022
£
46,161
250
4,167|
|||50,578|
|||2022
£
374,237
-|
|||374,237|
|||2022
£
421
2,777
508
10,533|
|||14,239|
## **16 Pension commitments**
During the year employer’s pension contributions totalling £5,005 (2022: £5,795) were payable to defined contribution personal pension schemes. Pension contributions of £3,364 were owing at the balance sheet date (2022: £147).
Page 17
## **RIVER CHURCH**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 31 DECEMBER 2023**
## **17 Funds**
During the year the movements in the charity's funds were as follows:
|_Designated Funds_
Congregational Funds
Community Support Funds
_General Unrestricted Funds_
Total Unrestricted Funds
_Restricted Funds_
International Support Funds
CAP Debt centre
Miracle Building
Forest Hub
Other Community Support Funds
Other congregational support
Aggregate of funds|Opening
balance
2023
£
8,309
12,494
20,803
195,252
216,055
1,944
18,569
146,982
26,196
829
-
194,521
410,576|Incoming
resources
2023
£
1,165
9,911
11,076
1,026,049
1,037,125
4,793
22,803
1,238
23,059
588
927
53,407
1,090,531|Outgoing
resources
2023
£
(4,470)
(15,714)
(20,184)
(341,480)
(361,664)
(3,111)
(42,910)
-
(29,563)
(1,545)
(914)
(78,043)
(439,706)|Transfers
in the year
2023
£
(4,893)
-
(4,893)
(107)
(5,000)
-
5,000
-
-
-
-
5,000
-|Gains and
losses
2023
£
-
-
-
-
-
-
-
-
-
-
-
-
-|Closing
balance
2023
£
111
6,691|
|---|---|---|---|---|---|---|
|||||||6,802
879,714|
|||||||886,516|
|||||||3,626
3,463
148,219
19,692
(129)
14|
|||||||174,885|
|||||||1,061,401|
The transfers referred to above were made for the following reasons:
a) The costs of the CAP debt centre are underwritten by the Maidenhead Church, which transfers monies into the CAP fund as they are required.
## **Analysis of net assets by fund**
The assets and liabilities of the various funds were as follows:
|**ysis of net assets by fund**
assets and liabilities of the various funds were as follows:||||
|---|---|---|---|
|Tangible fixed assets
Debtors
Cash at bank and in hand
Creditors falling due within one year|General
Designated
funds
funds
£
£
-
-
216,727
-
681,187
6,802
(18,200)
879,714
6,802
Unrestricted Funds|Restricted
funds
£
-
-
174,885
174,885|2023
£
-
216,727
862,874
(18,200)|
||||1,061,401|
Page 18
## **RIVER CHURCH**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 31 DECEMBER 2023**
## **17 Funds (cont.)**
In the previous year the movements in the charity's funds were as follows:
|_Designated Funds_
Congregational Funds
Community Support Funds
_General Unrestricted Funds_
Total Unrestricted Funds
_Restricted Funds_
International Support Funds
CAP Debt centre
Miracle Building
Forest Hub
Other Community Support Funds
Aggregate of funds|Opening
balance
2022
£
2,819
11,417
14,236
96,038
110,274
8,447
25,091
146,262
39,132
1,099
220,032
330,306|Incoming
resources
2022
£
7,406
2,575
9,981
373,889
383,870
9,286
23,168
1,290
19,180
1,599
54,522
438,392|Outgoing
resources
2022
£
(1,916)
(1,498)
(3,414)
(278,524)
(281,938)
(11,893)
(29,690)
(570)
(32,116)
(1,916)
(76,184)
(358,122)|Transfers
in the year
2022
£
-
-
-
3,849
3,849
(3,896)
-
-
-
47
(3,849)
-|Gains and
losses
2022
£
-
-
-
-
-
-
-
-
-
-
-|Closing
balance
2022
£
8,309
12,494|
|---|---|---|---|---|---|---|
|||||||20,803
195,252|
|||||||216,055|
|||||||1,944
18,569
146,982
26,196
829|
|||||||194,521|
|||||||410,576|
## **Analysis of net assets by fund**
In the previous year, the assets and liabilities of the various funds were as follows:
|Tangible fixed assets
Debtors
Cash at bank and in hand
Creditors falling due within one year|General
Designated
funds
funds
£
£
-
-
50,578
-
158,914
20,803
(14,239)
-
195,252
20,803
Unrestricted Funds|Restricted
funds
£
-
-
194,521
-
194,521|2022
£
-
50,578
374,237
(14,239)|
|---|---|---|---|
||||410,576|
## _Designated funds_
Congregational Funds represent the accumulated surpluses in the individual churches. Community Support Funds represent funds set aside for local charitable giving.
## _Restricted funds_
International Support Funds relate to money received for various international ministries and the support of church missionaries abroad.
CAP Debt centre funds are restricted to this project.
Miracle Building fund relates to money donated for the purchase of a building. Forest Hub funds are restricted to activities at the Forest Hub.
Other Community Support Funds represent funds set aside for local charitable giving.
Page 19
## **RIVER CHURCH**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 31 DECEMBER 2023**
## **19 Transactions with related parties** During the year the charity:
- a) received donations totalling £66,041 (2022: £28,520) from related parties (which includes trustees, any other members of key management and anyone closely connected to them).
- b) No expenses (2022: £nil) were paid to, or for, the trustees.
During the year the charity also made the following payments to, or for, related parties:
- a) Bethani Chisnall, who is closely related to Adam Chisnall, who is a member of key management, received employment benefits totalling £17,598 for her work as Head of Childrens & Families work.
## **20 Members**
Each member of the charity commits to contribute if the charity is wound up an amount of £10.
Page 20
## **RIVER CHURCH**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES WITH COMPARATIVES**
## **FOR THE YEAR ENDED 31 DECEMBER 2023**
|Note
**INCOME AND ENDOWMENTS FROM:**
Donations and legacies
3
Charitable activities
4
Investments
5
**Total income and endowments**
**EXPENDITURE ON:**
Charitable activities:
6
**Total Expenditure**
**Net income/(expenditure)**
**Transfers between funds**
17
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**
17||General
Designated
2023
2023
£
£
1,020,264
11,076
63
-
5,722
-
1,026,049
11,076
341,480
20,184
341,480
20,184
684,569
(9,108)
(107)
(4,893)
684,462
(14,001)
195,252
20,803
879,714
6,802
Unrestricted funds|Restricted
2023
£
47,883
5,523
-
53,407
78,043
78,043
(24,636)
5,000
(19,636)
194,521
174,885|Total
2023
£
1,079,223
5,586
5,722
1,090,531
439,706
439,706
650,825
-
650,825
410,576
1,061,401|||General
Designated
2022
2022
£
£
372,980
9,981
-
-
909
-
373,889
9,981
278,524
3,414
278,524
3,414
95,365
6,567
3,849
-
99,214
6,567
96,038
14,236
195,252
20,803
Unrestricted funds|Restricted
2022
£
45,059
9,464
-
54,522
76,184
76,184
(21,662)
(3,849)
(25,511)
220,032
194,521|Total
2022
£
428,019
9,464
909
438,392
358,122
358,122
80,270
-
80,270
330,306
410,576|
|---|---|---|---|---|---|---|---|---|---|
Page 21