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2024-03-31-accounts

Charity number: 1199895

RCCG SOLID ROCK PARISH DERBY

(CHARITY INCORPORATED ORGANISATION)

UNAUDITED

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

THE REDEEMED CHRISTIAN CHURCH OF GOD – SOLID ROCK PARISH DERBY (CHARITY INCORPORATED ORGANISATION)

CONTENTS

Page
Reference and administrative details of the CIO, its Trustees and advisers 1
Trustees' report 2 - 5
Independent examiner's report 6
Statement of financial activities 7
Balance sheet 8
Notes to the financial statements 9 - 19

THE REDEEMED CHRISTIAN CHURCH OF GOD – SOLID ROCK PARISH DERBY (CHARITY INCORPORATED ORGANISATION)

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

Trustees JAMES EGODIBIE
TOLU EGODIBIE
CHRISTOPHER JERRY
CELESTINE GYAMPO
LINDA CHUKWUEMEKA
Charity registered
number
1199895
Principal office
55 Woods Lane
Derby
DE22 3UD
Accountants
GIL Accountancy Services
177 Ballens Road
Chatham
Kent
ME5 8PG
Bankers
HSBC BANK
15 UTTOXETER ROAD
MICKLEOVER
DE3 0DA
Pastor-in-charge
PASTOR JAMES EGODIBIE

Page 1

THE REDEEMED CHRISTIAN CHURCH OF GOD – SOLID ROCK PARISH DERBY (CHARITY INCORPORATED ORGANISATION)

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2024

The Trustees of RCCG SOLID ROCK PARISH DERBY are pleased to present their annual report together with the financial statements for the year ending 31 MARCH 2024. This report provides an overview of the charity’s activities, achievements, and financial performance over the past year.

Objectives and activities

Policies and objectives

Our Mission Statement reads “To glorify God by the preaching of the word of faith, to bring people to the family of Christ Jesus, nurture them to Christian maturity, equip and empower them for ministry in the church and the world”.

Our Objectives are:

1) To advance the Christian religion for the benefit of the public in accordance with the statement of faith;

4) For any such other purposes deemed charitable by the law of England and Wales as the trustees shall from time to time determine.

To achieve these objectives, the charity has undertaken the following activities:

  1. Gathering of the Members Every week Sunday for Corporate Worship in Person, and Zoom meetings: Every Wednesday -Bible Study and Saturday -Prayer meetings.

  2. Food Bank for the Community, twice a week (Fridays and Sundays),

  3. Gifts items/ Hampers to the Community during Easter and Christmas Celebrations. In December 2023, we gave out Gifts/Hampers to over 1000 families in the Community and to over 500 families during the Easter Celebration of 2023

  4. Holiday Club for Children aged 5 to 16, in Summer, Easter and Winter School Holiday, we organise Holiday club Activities for the Children in the Community. Accommodating over 120 children for each holiday club.

  5. Concerts in the Church Auditorium and in the Park. In August 2023 we had a concert in the park, attracting over 1000 audience with the Mayor of the City and 10 Councillors in attendance.

In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.

Page 2

THE REDEEMED CHRISTIAN CHURCH OF GOD – SOLID ROCK PARISH DERBY (CHARITY INCORPORATED ORGANISATION)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Objectives and activities (continued)

Activities undertaken to achieve objectives

• Project 1: Church Plant: We were able to plant three new parishes in 2023. The first in Burton on Trent, the second in Derby and the third in Gosport. Number of beneficiaries are three ordained ministers. Impact: This has help to spread the gospel and win more converts.

• Project 2: Poverty Alleviation: Gifts to families on low income and unemployed adults during festive periods to help alleviate the financial burden and help them celebrate with their families. Number of beneficiaries for our December 2023 Hamper distribution were over 1000 families. Impact: Families who otherwise would have not been able to celebrate and enjoy the festive season were given the opportunity to be able to celebrate with their loved ones

• Project 3: Training and Education: A total of £981only (2023/2024) has been spent on Volunteer/staff training and development. As we focused more on in house training/ peer training with investments in DvDs, CDs and Books.

• The Charity plays a significant role in the development of volunteers/staff within the in the organisation. Support is provided to a variety of activities including conferences, workshops and individual training. Support has both enhanced broad personal development and has improved skills directly related to their job. Some of these training activities included: Mental Health Awareness; First Aid Training; Discipleship Training, Customer Care, Leadership Training, Budgeting etc

• Project 4: School Uniform: School Uniforms, Lunch Boxes and water bottles were purchased and distributed to over 150 Children in our Community

Achievements and performance

Main achievements of the CIO

Financial review

Going concern

After making appropriate enquiries, the Trustees have a reasonable expectation that the CIO 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. Further details regarding the adoption of the going concern basis can be found in the accounting policies.

Reserves policy

The charity has a policy of maintaining retaining at least a minimum reserve equivalent to an average of three months expenditure.

Page 3

THE REDEEMED CHRISTIAN CHURCH OF GOD – SOLID ROCK PARISH DERBY (CHARITY INCORPORATED ORGANISATION)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Principal funding

The Church is mainly funded by members’ donations. Directions relating to the charitable trust are made by the Trustees in consultation with the pastors, who are responsible for governing the life and teaching of the church. Day to day decisions on expenditure are taken by a non-paid finance team, with budgets set and monitored by the Pastor and the Administrator. The powers of appointment or removal of Trustees rests with the Pastor with the approval of the trustees. New Trustees are primarily selected from the members of the church or from the leaders of other local churches sharing the same vision. On being appointed, new Trustees will spend time with the existing Trustees to ensure they understand their responsibilities and the legal and financial framework in which the church operates.

Please refer to the statement of financial activities and balance sheet for details of our financial performance for the year.

Structure, governance and management

Constitution

The Redeemed Christian Church of God – Solid Rock Parish Derby is a registered charity, number 1199895, and is constituted under a CIO - Foundation model.

Methods of appointment or election of Trustees

The management of the CIO is the responsibility of the Trustees who are elected and co-opted under the terms of the CIO - Foundation model.

Organisational structure and decision-making policies

The trustees are responsible for the running of the affairs and the management of the funds of the Trust, through the Pastor James Egodibie. The trustees meet regularly to discuss the affairs of the Trust as well as the funds, donations and reports received from members and other key stakeholders.

Page 4

THE REDEEMED CHRISTIAN CHURCH OF GOD – SOLID ROCK PARISH DERBY (CHARITY INCORPORATED ORGANISATION)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

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 CIO 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 CIO's transactions and disclose with reasonable accuracy at any time the financial position of the CIO 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 CIO - Foundation model. They are also responsible for safeguarding the assets of the CIO 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 on 26 June 2024 and signed on their behalf by:

................................................

JAMES EGODIBIE

Page 5

THE REDEEMED CHRISTIAN CHURCH OF GOD – SOLID ROCK PARISH DERBY (CHARITY INCORPORATED ORGANISATION)

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2024

Independent Examiner's Report to the Trustees of RCCG Solid Rock Parish Derby ('the CIO')

I report to the charity Trustees on my examination of the accounts of the CIO for the year ended 31 March 2024.

Responsibilities and Basis of Report

As the Trustees of the CIO you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').

I report in respect of my examination of the CIO's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent Examiner's Statement

Since the CIO'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 (enter body here), which is one of the listed bodies.

Your attention is drawn to the fact that the CIO has prepared the accounts 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 (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.

I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

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 that in any material respect:

  1. accounting records were not kept in respect of the CIO as required by section 130 of the 2011 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.

Signed:

D Tabiri

Dated: 26 June 2024

FCCA

Page 6

THE REDEEMED CHRISTIAN CHURCH OF GOD – SOLID ROCK PARISH DERBY (CHARITY INCORPORATED ORGANISATION)

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024

Note
Income from:
Donations and legacies
3
Other trading activities
4
Total income
Expenditure on:
Charitable activities
5
Total expenditure
Net income/(expenditure)
Transfers between funds
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Unrestricted
funds
2024
£
312,846
540
313,386
240,814
240,814
72,572
(12,650)
59,922
143,050
59,922
202,972		 Restricted
funds
2024
£
25,732
-
25,732
81,900
81,900
(56,168)
12,650
(43,518)
43,518
(43,518)
-		 Total
funds
2024
£
338,578
540
339,118
322,714
322,714
16,404
-
16,404
186,568
16,404
202,972		 Total
funds
2023
£
314,587
-
314,587
229,282
229,282
85,305
-
85,305
101,263
85,305
186,568

The Statement of Financial Activities includes all gains and losses recognised in the year.

The notes on pages 9 to 19 form part of these financial statements.

Page 7

THE REDEEMED CHRISTIAN CHURCH OF GOD – SOLID ROCK PARISH DERBY (CHARITY INCORPORATED ORGANISATION)

BALANCE SHEET AS AT 31 MARCH 2024

Fixed assets
Note
Tangible assets
10
Current assets
Debtors
11
Cash at bank and in hand
Creditors: amounts falling due within one
year
12
Net current assets
Total assets less current liabilities
Creditors: amounts falling due after more
than one year
13
Net assets excluding pension asset
Total net assets
Charity funds
Restricted funds
Unrestricted funds
Total funds		 7,446
132,070
139,516
(6,981)		 2024
£
195,903
195,903
132,535
328,438
(125,466)
202,972
202,972
-
202,972
202,972		 3,110
84,796
87,906
(6,985)		 2023
£
234,086
234,086
80,921
315,007
(128,439)
186,568
186,568
43,518
143,050
186,568

The financial statements were approved and authorised for issue by the Trustees on 26 June 2024 and signed on their behalf by:

JAMES EGODIBIE

The notes on pages 9 to 19 form part of these financial statements.

Page 8

THE REDEEMED CHRISTIAN CHURCH OF GOD – SOLID ROCK PARISH DERBY (CHARITY INCORPORATED ORGANISATION)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

1. General information

RCCG SOLID ROCK PARISH DERBY is a charity, registered in England and Wales. The charity's registered number and registered office address can be found on the Reference and Administration information page 1.

2. Accounting policies

2.1 Basis of preparation of financial statements

The financial statements 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

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 Charities SORP (FRS 102) published 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.

The Redeemed Christian Church of God – Solid Rock Parish Derby 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.

2.2 Income

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

Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.

2.3 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 CIO's objectives, as well as any associated support costs.

Page 9

THE REDEEMED CHRISTIAN CHURCH OF GOD – SOLID ROCK PARISH DERBY (CHARITY INCORPORATED ORGANISATION)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

2. Accounting policies (continued)

2.3 Expenditure (continued)

Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.

All expenditure is inclusive of irrecoverable VAT.

2.4 Tangible fixed assets and depreciation

Tangible fixed assets costing £NIL or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, .

Depreciation is provided on the following bases:

Freehold property - 50years
Music equiment - 25% straight line
Motor vehicles - 20% straight line
Fixtures and fittings - 25% straight line
Office equipment - 25% straight line

2.5 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.

2.6 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.

Page 10

THE REDEEMED CHRISTIAN CHURCH OF GOD – SOLID ROCK PARISH DERBY (CHARITY INCORPORATED ORGANISATION)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

2. Accounting policies (continued)

2.7 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 CIO 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.

2.8 Financial instruments

The CIO 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.

2.9 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 CIO 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 CIO 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.

3. Income from donations and legacies

Unrestricted
funds
2024
£
Donations
312,846
Grants
-
Total 2024
312,846		 Restricted
funds
2024
£
-
25,732
25,732		 Total
funds
2024
£
312,846
25,732
338,578

Page 11

THE REDEEMED CHRISTIAN CHURCH OF GOD – SOLID ROCK PARISH DERBY (CHARITY INCORPORATED ORGANISATION)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

3. Income from donations and legacies (continued)

Unrestricted
funds
2023
£
Donations
220,829
Grants
-
Total 2023
220,829
4.
Income from other trading activities
Income from non charitable trading activities
Unrestricted
funds
2024
£
Charity trading income - Domestic
540
5.
Analysis of expenditure on charitable activities
Summary by fund type		 Restricted
funds
2023
£
-
93,758
93,758
Total
funds
2024
£
540		 Total
funds
2023
£
220,829
93,758
314,587
Total
funds
2023
£
-
Unrestricted
funds
2024
£
Charitable activities
189,899
Governance costs
50,915
240,814		 Restricted
funds
2024
£
81,900
-
81,900		 Total
2024
£
271,799
50,915
322,714

Page 12

THE REDEEMED CHRISTIAN CHURCH OF GOD – SOLID ROCK PARISH DERBY (CHARITY INCORPORATED ORGANISATION)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

5. Analysis of expenditure on charitable activities (continued)

Summary by fund type (continued)

Charitable activities
Governance costs
Other		 Unrestricted
funds
2023
£
131,908
37,899
-
169,807		 Restricted
funds
2023
£
59,474
-
-
59,474		 Total
2023
£
191,382
37,899
1
229,282

6. Analysis of expenditure by activities

Charitable activities
Governance costs
Charitable activities
Governance costs		 Activities
undertaken
directly
2024
£
241,064
48,881
289,945
Activities
undertaken
directly
2023
£
177,101
30,768
207,869		 Grant
funding of
activities
2024
£
22,991
-
22,991
Grant
funding of
activities
2023
£
6,539
-
6,539		 Support
costs
2024
£
7,743
2,035
9,778
Support
costs
2023
£
7,743
7,131
14,874		 Total
funds
2024
£
271,798
50,916
322,714
Total
funds
2023
£
191,383
37,899
229,282

Page 13

THE REDEEMED CHRISTIAN CHURCH OF GOD – SOLID ROCK PARISH DERBY (CHARITY INCORPORATED ORGANISATION)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

6. Analysis of expenditure by activities (continued)

Analysis of direct costs

Staff costs
Depreciation
Publicity, printing & distributions
Books, DVD's & CD's
RCCG central office contributions
Rent & Hall hire
Light & Heat
Rates & Water
Refreshments & Groceries
Hospitality
Transportation
Honorarium
Conferences, evangelism etc
Training
Accountancy, legal & professional
Sundry expenses
Insurance
Repairs & maintenance
Subscriptions
Hamper Project
Holiday Club		 Total
funds
2024
£
32,138
58,999
11,932
23,312
11,484
800
9,957
1,820
196
6,632
3,620
6,391
12,780
981
5,600
1,238
3,306
14,905
1,953
45,094
36,806
289,944		 Total
funds
2023
£
7,452
51,787
9,058
2,351
4,340
-
8,208
2,104
17
6,645
2,058
8,250
13,107
3,144
3,950
229
2,603
22,037
1,054
29,922
29,553
207,869

Page 14

THE REDEEMED CHRISTIAN CHURCH OF GOD – SOLID ROCK PARISH DERBY (CHARITY INCORPORATED ORGANISATION)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

6. Analysis of expenditure by activities (continued) Analysis of support costs

Bank charges
Computer costs
Mortgage interest costs
7.
Independent examiner's remuneration
Fees payable to the CIO's independent examiner for the independent
examination of the CIO's annual accounts		 Total
funds
2024
£
806
1,229
7,743
9,778
2024
£
550		 Total
funds
2023
£
586
6,545
7,743
14,874
2023
£
550

8. Staff costs

Wages and salaries 2024
£
32,138
32,138		 2023
£
7,452
7,452
The average number of persons employed by the CIO during the year was as follows:
2024
No.
Staff
2
No employee received remuneration amounting to more than £60,000 in either year.		 2023
No.
1

Page 15

THE REDEEMED CHRISTIAN CHURCH OF GOD – SOLID ROCK PARISH DERBY (CHARITY INCORPORATED ORGANISATION)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

9. Trustees' remuneration and expenses

During the year, one or more Trustees has been paid remuneration or has received other benefits from an employment capacity with the CIO for admin and management services rendered to the charity. The value of Trustees' remuneration and other benefits was as follows:

2024 2023
£ £
TOLU EGODIBIE Remuneration 12,711 7,452

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

10. Tangible fixed assets

Cost or valuation
At 1 April 2023
Additions
At 31 March 2024
Depreciation
At 1 April 2023
Charge for the year
At 31 March 2024
Net book value
At 31 March 2024
At 31 March 2023		 Freehold
property
£
200,000
-
200,000
28,000
4,000
32,000
168,000
172,000		 Plant and
machinery
£
60,673
218
60,891
51,009
9,663
60,672
219
9,664		 Motor
vehicles
£
21,826
-
21,826
16,546
4,165
20,711
1,115
5,280		 Fixtures
and fittings
£
24,792
1,200
25,992
20,433
4,759
25,192
800
4,359		 Office
equipment
£
135,725
9,118
144,843
92,942
26,131
119,073
25,770
42,783		 Total
£
443,016
10,536
453,552
208,930
48,718
257,648
195,904
234,086

Page 16

THE REDEEMED CHRISTIAN CHURCH OF GOD – SOLID ROCK PARISH DERBY (CHARITY INCORPORATED ORGANISATION)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

11. Debtors

Due within one year
Other debtors		 2024
£
7,446
7,446		 2023
£
3,110
3,110

12. Creditors: Amounts falling due within one year

Bank loans
Other creditors
Accruals and deferred income		 2024
£
6,184
244
553
6,981		 2023
£
6,184
248
553
6,985

13. Creditors: Amounts falling due after more than one year

2024 2023
£ £
Bank loans 125,466 128,439

14. Financial instruments

2024 2023
£ £
Financial assets
Financial assets measured at fair value through income and expenditure 132,070 84,796

15. Summary of funds

Page 17

THE REDEEMED CHRISTIAN CHURCH OF GOD – SOLID ROCK PARISH DERBY (CHARITY INCORPORATED ORGANISATION)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

15. Summary of funds (continued)

Summary of funds - current year

General funds
Restricted funds		 Balance at 1
April 2023
£
143,050
43,518
186,568		 Income
£
313,386
25,732
339,118
Balance at
1 April 2022
£
92,028
9,234
101,262		 Expenditure
£
(240,814)
(81,900)
(322,714)
Income
£
220,829
93,758
314,587		 Transfers
in/out
£
(12,650)
12,650
-
Expenditure
£
(167,703)
(61,578)
(229,281)		 Balance at
31 March
2024
£
202,972
-
202,972
Balance at
31 March
2023
£
145,154
41,414
Summary of funds - prior year
General funds
Restricted funds
186,568

16. Analysis of net assets between funds

Analysis of net assets between funds - current period

Unrestricted
funds
2024
£
Tangible fixed assets
195,903
Current assets
139,517
Creditors due within one year
(6,981)
Creditors due in more than one year
(125,466)
Total
202,973		 Total
funds
2024
£
195,903
139,517
(6,981)
(125,466)
202,973

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THE REDEEMED CHRISTIAN CHURCH OF GOD – SOLID ROCK PARISH DERBY (CHARITY INCORPORATED ORGANISATION)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

16. Analysis of net assets between funds (continued)

Analysis of net assets between funds - prior period

Tangible fixed assets
Current assets
Creditors due within one year
Creditors due in more than one year
Total		 Unrestricted
funds
2023
£
192,672
87,906
(6,985)
(128,439)
145,154		 Restricted
funds
2023
£
41,414
-
-
-
41,414		 Total
funds
2023
£
234,086
87,906
(6,985)
(128,439)
186,568

Page 19