The Redeemed Christian Church of God - Rivers of Living Water
Report and Accounts
31 October 2023
Company Registration Number - 8249011 Charity Registration Number - 1149676
The Redeemed Christian Church of God - Rivers of Living Water
Report and accounts for the year ended 31 October 2023
Contents
| Page | ||
|---|---|---|
| Charity information | 1 | |
| Trustees' Annual Report | 1 | |
| Statement of directors' responsibilities | 5 | |
| Independent Accountant's Report | 7 | |
| Funds Statements:- | ||
| Statement of Financial Activities g g |
9 | |
| Movements in funds | 10 | |
| Income and Expenditure account | 11 | |
| Balance sheet | 12 | |
| Notes to the accounts | 13 |
The Redeemed Christian Church of God - Rivers of Living Water
Company Registration Number - 8249011
Trustees' Annual Report for the year ended 31 October 2023
The Trustees present their Report and Accounts for the year ended 31 October 2023, which also comprises the Directors' Report required by the Companies Act 2006.
Reference and administrative details
The charity name.
The legal name of the charity is:- The Redeemed Christian Church of God - Rivers of Living Water.
The charity is also known by its operating name, RCCG - Rivers of Living Water.
The charity's areas operation and UK charitable registration.
The charity is registered in England & Wales with the Charity Commission in England & Wales (CCEW) with charity number 1149676.
.
The charity does not operate in any overseas jurisdictions.
Legal structure of the charity
The charity is constituted as a company limited by guarantee, registered under the Companies Acts . The governing document of the charity is the Memorandum and Articles of Association establishing the company under company legislation.
The governing document is dated
01 June 2008
There are no restrictions in the governing documents on the operation of the Charity or on its investment powers other than those imposed by Charity Law.
By operation of law all, trustees are directors under the Companies Act 2006 and all directors are trustees under Charities legislation and have responsibilities, as such, under both company and charity legislation.
The trustees are all individuals.
Julius Adeposi Adetoro Iredele Oluwasegun Oyedele Emmanuel Akindele Macaulay
The principal operating address, telephone number, email and web addresses of the charity are:-
367 Rochester Way
Eltham, London SE9 6PG Telephone 0788236287
Email address pastorrolw@yahoo.com
Web address www.rccgrolw.co.uk
The registered office of the charity for Companies Act purposes is the same as the operating address shown above.
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The Redeemed Christian Church of God - Rivers of Living Water
Company Registration Number - 8249011
Trustees' Annual Report for the year ended 31 October 2023
The following persons served as Trustees during the year ended 31 October 2023 :-
The trustees who served as a trustee in the reporting period were as shown above, and there were no changes during the year, or in the period between the year end and the approval of the accounts.
Objects and activities of the charity
The purposes of the charity as set out in its governing document.
The objects of the charity are:
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The advancement of the Christian religion worldwide and
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The relief of poverty.
It pursues these objects by the operation of a Christian worship centre at a facility located at Thamesmead Leisure Centre, Thamesmead Drive, SE28 8RE. It also organises special training and mentoring activities for the unemployed, people planning to start their own businesses and runs general information centre for the public.
The main activities undertaken in relation to those purposes during the year.
Significant activities that contributed to the achievement of these objectives were:
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Events organised during the year to promote the Christian faith include distribution of leaflets with Christian messages, organising deliverance services, all night vigils, special prayers and counselling.
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Other activities to help raise the profile of the charity in the local community included picnics, Mothers' Day and Fathers' Day celebrations.
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Specific activities for the relief of poverty are in the areas of training and mentoring of the unemployed to start their own businesses and passing job information to job seekers.
The main activities undertaken during the year to further the charity's purpose for the public benefit.
The trustees have complied with the duty in Section 4 of the Charities Act 2006 and paid due regard to public benefit when preparing this report. The benefit provided to the public is consistent with the aims of the charity in the United Kingdom.
The trustees have had regard to the Charity Commission's guidance on public benefit in managing the activities of the charity.
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The Redeemed Christian Church of God - Rivers of Living Water
Company Registration Number - 8249011
Trustees' Annual Report for the year ended 31 October 2023
The contribution of volunteers during the year.
The church is grateful for the commitment and efforts of its volunteers who are involved in services provision especially during the pandemic period. The church has over 39 volunteers committed to working in various departments within the church. The church continues to dispense the service of heads of departments and ministers to ensure that the best value is derived from the sterling efforts of the volunteers.
Grant making policies and how these contributed to the achievement of the charity's aims and objectives during the year.
Grants are made to other charitable bodies. The church supports missionary organisations such as the Festival of Life and the World Evangelism Mission, and other missions and projects within and outside the UK. The church also provides support to members of the congregation (at the discretion of the trustees) who are in need.
The main achievements and performance of the charity during the year.
The trustees are pleased to report that the church continued to be successful spiritually by ministering to many people in prayer and welfare. The church has improved in membership strength and is increasingly reaching out to the community.
Structure, governance and management of the charity
The methods used to recruit and appoint new charity trustees.
New trustees are elected on the basis of the contribution that they will make to the governance of the organisation and the skills that they will contribute. They are provided with copies of the Charity Commission's guidance and given an introduction to the activities of the charity by the existing board.
The charity's organisational structure.
The board of trustees is headed by a Chairman, the Secretary to the trust and a Financial administrator. All the present employees of the charity are voluntary workers. The trustees are responsible for making all decisions regarding allocation of fund and activities.
Bankers: Barclays Bank UK Plc 1 Churchill Place London E14 5HP Accountants Crownwise Consult 1A Town Square Erith London United Kingdom DA8 1RE
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The Redeemed Christian Church of God - Rivers of Living Water
Company Registration Number - 8249011
Trustees' Annual Report for the year ended 31 October 2023
Financial review
The charity's financial position at the end of the year ended 31 October 2023
The financial position of the charity at 31 October 2023 and comparatives for the prior period, as more fully detailed in the accounts, can be summarised as follows:-
| Restricted revenue funds Total Funds Net income Unrestricted Revenue Funds available for the general purposes of the charity |
2023 2022 £ £ 24,395 19,715 60,150 38,985 43,508 40,278 103,658 79,263 |
|---|---|
Financial review of the position at the reporting date, 31 October 2023 .
During the year, income of £94,654 (£61,389 in 2022) was received as voluntary donations. The net movement in funds for the period, as shown in the statement of financial activities, for the period was £24,395 (£19,715 in 2022). The value of the The Redeemed Christian Church of God - Rivers of Living Water’s net assets as at 31st October 2023 is £103,658 (£79,263 in 2022).
The major risks to which the Charity is exposed and reviews and systems to mitigate them.
The trustees have assessed the major risks to which the charity is exposed, in particular those related to operations and finances of the charity, and are satisfied that systems are in place to mitigate against exposures to the major risks.
Details of The Independent Examiner
Niyi Zaccheus
Chartered Certified Accountant 1A Town Square Erith London United Kingdom DA8 1RE
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The Redeemed Christian Church of God - Rivers of Living Water
Company Registration Number - 8249011
Trustees' Annual Report for the year ended 31 October 2023
Statement of the Directors Trustees' Responsibilities
The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Companies Act 2006, the Charities Act 2011 and the Charities (Accounts and Reports) Regulations 2008. Notwithstanding the explicit requirement in the extant statutory regulations,the Charities (Accounts and Reports) Regulations 2008, to prepare the financial statements in accordance with the SORP 2005, in view of the fact that the SORP 2005 has been withdrawn, the Trustees determined to interpret this responsibility as requiring them to follow current best practice and prepare the accounts according to the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), .
In particular, the Companies Act 2006 and charity law require the Board of Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of the surplus or deficit of the charity. In preparing those financial statements the Board is required to :-
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to prepare the accounts in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).
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select suitable accounting policies and apply them consistently;
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make judgements and estimates that are reasonable and prudent;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business;
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state whether applicable accounting standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements;
The law requires that the trustees must not approve the accounts unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the surplus or deficit of the charity for the year.
The Trustees are also responsible for maintaining adequate accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which are sufficient to show and explain the charity's transactions and enable them to ensure that the financial statements comply with the Companies Act 2006 and comply with regulations made under the Charities Act. 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.
The Trustees are also responsible for the contents of the Trustees' report, and the statutory responsibility of the Independent Examiner in relation to the Trustees' report is limited to examining the report and ensuring that , on the face of the report, there are no material inconsistencies with the figures disclosed in the financial statements.
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The Redeemed Christian Church of God - Rivers of Living Water
Company Registration Number - 8249011
Trustees' Annual Report for the year ended 31 October 2023
Method of preparation of accounts - Small company provisions
The financial statements are set out on pages 9 to 19.
The financial statements have been prepared implementing the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), and in accordance with the Financial Reporting Standard 102, These financial statements have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006. applicable to companies subject to the small companies regime.
This report was approved by the board of trustees on 2 July 2024.
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Julius Adeposi Adetoro Director and Trustee
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Iredele Oluwasegun Oyedele Trustee
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The Redeemed Christian Church of God - Rivers of Living Water
Report of the Independent Examiner to the Trustees of the charitable company on the accounts for the year ended 31 October 2023
I report to the Trustees on my examination of the financial statements of the charitable company on pages 9 to 19 for the year ended 31 October 2023 which have been prepared in accordance with the Charities Act 2011 (the Act) and with the Financial Reporting Standard 102, (effective 1st January 2016) as modified by FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), published by the Charity Commission in England & Wales (CCEW) , and under the historical cost convention and the accounting policies set out on page 13.
Respective responsibilities of the Trustees and the Independent Examiner and the basis of the report
As described on page 5, you, the charitable company's Trustees, who are also the Directors of the Company for the purposes of Company law, are responsible for the preparation of the financial statements in accordance with the Companies Act 2006, the Charities Act 2011 and all other applicable law and with United Kingdom Generally Accepted Accounting Practice, applicable to smaller entities, and for being satisfied that the financial statements give a true and fair view.
The Trustees consider that the audit requirement of Section 144(1) of the Charities Act 2011 (the Act) does not apply, and that there is no requirement in the memorandum and articles of the charity for the conducting of an audit, and that the accounts do not require an audit in accordance with Part 16 of the Companies Act 2006 and that no member or members have requested an audit pursuant to Section 476 of the Companies Act 2006. As a consequence, the Trustees have elected that the financial statements be subject to independent examination.
Having satisfied myself that the financial statements are not required to be audited under any legal provision, or otherwise, and are eligible for independent examination, it is my responsibility to:-
a) examine the financial statements of the charity under Section 145 of the Act;
b) follow the applicable procedures in the Directions given by the Charity Commission under section 145(5)(b) of the Act.
Basis of Independent Examiner's Statement and scope of work undertaken
I report in respect of my examination of the charity's financial statements carried out under s145 of the Act. 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 setting out the duties of an independent examiner in relation to the conducting of an independent examination. An independent examination includes a review of the accounting records kept by the charitable company and of the accounting systems employed by the charitable company and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeking explanations from you, as Trustees, concerning such matters. The purpose of the examination is to establish as far as possible that there have been no breaches of charity legislation and that, on a test basis of evidence relevant to the amounts and disclosures made, the financial statements comply with the SORP.
The procedures undertaken do not provide all the evidence that would be required in an audit, and information supplied by the Trustees in the course of the examination is not subjected to audit tests or enquiries and does not cover all the matters that an auditor would consider in arriving at an opinion. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide
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The Redeemed Christian Church of God - Rivers of Living Water
Consequently, I do not express an audit opinion on the view given by the financial statements, and in particular, I express no opinion as to whether the financial statements give a true and fair view of the affairs of the charity, and my report is limited to the matters set out in the statement below.
I planned and performed my examination so as to satisfy myself that the objectives of the independent examination are achieved and before finalising the report I obtained written assurances from the Trustees of all material matters.
Independent Examiner's Statement, Report and Opinion
Subject to the limitations upon the scope of my work as detailed above, I have completed my examination: and can confirm that:-
The accounts of this charitable company are not required to be audited under Part 16 of the Companies Act 2006;
This is a report in respect of an examination carried out under 145 of the Act and in accordance with Directions given by the Charity Commission under section 145(5)(b) of the Act which may be applicable;
and that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:-
accounting records were not kept in respect of the charity as required by Section 386 of the Companies Act 2006 and Section 130 of The Charities Act 2011;
the financial statements do not accord with those records; or
the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in section 396 of the Companies Act 2006 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;
have not been prepared in accordance with the methods and principles set out in the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP).
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 financial statements to be reached.
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Niyi Zaccheus - Independent Examiner
Chartered Certified Accountant
1A Town Square Erith London United Kingdom DA8 1RE
This report was signed on 2 July 2024
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The Redeemed Christian Church of God - Rivers of Living Water - Statement of Financial Activities for the year ended 31 October 2023
Statement of Financial Activities (including the Income and Expenditure Account for the year ended 31 October 2023, as required by the Companies Act 2006)
| Income & Endowments from: Donations & Legacies Other Total income Expenditure on: Charitable activities Total expenditure Net income for the year Reconciliation of funds:- Total funds brought forward Total funds carried forward Net movement in funds |
Current year Unrestricted Funds 2023 £ 91,424 - 91,424 70,259 70,259 21,165 21,165 38,985 60,150 |
Current year Restricted Funds 2023 £ 3,230 - 3,230 - - 3,230 3,230 40,278 43,508 |
Current year Prior Year Total Funds Total Funds 2023 2022 £ £ 94,654 65,344 - 1,963 94,654 67,307 70,259 47,592 70,259 47,592 24,395 19,715 24,395 19,715 79,263 59,548 103,658 79,263 |
|---|---|---|---|
The 'SORP Ref' indicated above is the classification of income set out in the formal SORP documents. As required by paragraph 4.60 of the SORP, the brought forward and carried forward funds above have been agreed to the Balance Sheet.
All the prior year transactions were unrestricted items, and no further analysis is required
All activities derive from continuing operations
The Redeemed Christian Church of God - Rivers of Living Water - Resources applied in the year ended 31 October 2023 towards fixed assets for Charity use:-
| Funds generated in the year as detailed in the SOFA Resources applied on functional fixed assets Other applications of funds Net resources available to fund charitable activities |
2023 2022 £ £ 24,395 19,715 (19,740) (8,724) - - 4,655 10,991 |
|---|---|
The resources applied on fixed assets for charity use represents the cost of additions less proceeds of any disposals.
The notes attached on pages 13 to 19 form an integral part of these accounts.
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The Redeemed Christian Church of God - Rivers of Living Water - Statement of Financial Activities for the year ended 31 October 2023
Movements in revenue and capital funds for the year ended 31 October 2023
Revenue accumulated funds
| Unrestricted Funds 2023 £ Accumulated funds brought forwa 38,985 21,165 60,150 Closing revenue funds 60,150 Summary of funds Unrestricted and Designated funds 2023 £ Revenue accumulated funds 60,150 Total funds 60,150 Recognised gains and losses before transfers |
Restricted Funds 2023 £ 40,278 3,230 43,508 43,508 Restricted Funds 2023 £ 43,508 43,508 |
Total Last year Funds Total Funds 2023 2022 £ £ 79,263 59,548 24,395 19,715 103,658 79,263 103,658 79,263 Total Last Year Funds Total Funds 2023 2022 £ £ 103,658 79,263 103,658 79,263 |
|---|---|---|
The notes attached on pages 13 to 19 form an integral part of these accounts.
10
The Redeemed Christian Church of God - Rivers of Living Water - Statement of Financial Activities for the year ended 31 October 2023
The Redeemed Christian Church of God - Rivers of Living Water Income and Expenditure Account for the year ended 31 October 2023 as required by the Companies Act 2006
| Income Income from operations Refunds from HMRC on gift aided donations Other operating income Gross income in the year before exceptional items Expenditure Charitable expenditure, excluding depreciation and amortisation Depreciation and amortisation Governance costs Total expenditure in the year Retained surplus for the financial year |
2023 2022 £ £ 76,474 65,320 18,180 24 - 1,963 94,654 67,307 64,210 46,478 5,349 414 700 700 70,259 47,592 24,395 19,715 |
|---|---|
All activities derive from continuing operations
In accordance with the provisions of the Companies Act 2006, the headings and subheadings used in the Income and Expenditure account have been adapted to reflect the special nature of the charity's activities.
The notes attached on pages 13 to 19 form an integral part of these accounts.
11
The Redeemed Christian Church of God - Rivers of Living Water - Balance Sheet as at 31 October 2023
| Notes | 2023 | 2022 | |||
|---|---|---|---|---|---|
| £ | £ | ||||
| Fixed assets | |||||
| Tangible assets | 7 | 15,436 | 1,045 | ||
| Current assets | |||||
| Cash at bank and in hand | 88,922 | 78,918 | |||
| Creditors: amounts falling due within | |||||
| one year | 8 | (700) | (700) | ||
| Net current assets | 88,222 | 78,218 | |||
| The total net assets of the charity | 103,658 | 79,263 | |||
| The total net assets of the charity are | funded by | the funds of the charity, as follows:- | |||
| Restricted funds | |||||
| Restricted revenue funds | 11 | 43,508 | 40,278 | ||
| 43,508 | 40,278 | ||||
| Unrestricted funds | |||||
| Unrestricted revenue funds | 11 | 60,150 | 38,985 | ||
| 60,150 | 38,985 | ||||
| Total charity funds | 103,658 | 79,263 |
The 'SORP Ref' indicated above is the classification of Balance Sheet items as set out in the formal SORP documents. As required by paragraph 4.60 of the SORP, the brought forward and carried forward funds above have been agreed to the SOFA..
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The charity is subject to Independent Examination under charity legislation, and the report of the Independent Examiner is on page 8.
The financial statements have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006. applicable to companies subject to the small companies regime.
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Julius Adeposi Adetoro Iredele Oluwasegun Oyedele Chairman/Trustee Trustee
Approved by the board of trustees on 2 July 2024
The notes attached on pages 13 to 19 form an integral part of these accounts.
12
The Redeemed Christian Church of God - Rivers of Living Water
Notes to the Accounts for the year ended 31 October 2023
1 Accounting policies
Policies relating to the production of the accounts.
Basis of preparation and accounting convention
The accounts have been prepared on the accruals basis, under the historical cost convention, and in accordance with the Financial Reporting Standard 102, (effective 1st January 2016) and 'FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), published by the Charity Commission in England & Wales (CCEW) , effective January 2016, , and in accordance with all applicable law in the charity's jurisdiction of registration, except that the charity has prepared the financial statements in accordance with the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), in preference to the previous SORP, the SORP 2005, which has been withdrawn, notwithstanding the fact that the extant statutory regulations, the Charities (Accounts and Reports) Regulations 2008 refer explicitly to the SORP 2005. This has been done to accord with current best practice.
Risks and future assumptions
The charity is a public benefit entity.
Policies relating to categories of income and income recognition.
Nature of income
Gross income represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Categories of Income
Income is categorised as income from exchange transactions (contract income) and income from non-exchange transactions (gifts), investment income and other income.
Income from exchange transactions is received by the charity for goods or services supplied under contract or where entitlement is subject to fulfilling performance related conditions. The income the charity receives is approximately equal in value to the goods or services supplied by the charity to the purchaser.
Income from a non-exchange transaction is where the charity receives value from the donor without providing equal value in exchange, and includes donations of money, goods and services freely given without giving equal value in exchange.
Income recognition
Income, whether from exchange or non exchange transactions, is recognised in the statement of financial activities (SOFA) on a receivable basis, when a transaction or other event results in an increase in the charity’s assets or a reduction in its liabilities and only when the charity has legal entitlement, the income is probable and can be measured reliably.
Income subject to terms and conditions which must be met before the charity is entitled to the resources is not recognised until the conditions have been met.
All income is accounted for gross, before deducting any related fees or costs.
Policies relating to expenditure on goods and services provided to the charity.
Volunteers
In accordance with the SORP, and in recognition of the difficulties in placing a monetary value on the contribution from volunteers, the contribution of volunteers is not included within the income of the charity.
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The Redeemed Christian Church of God - Rivers of Living Water
Notes to the Accounts for the year ended 31 October 2023
However, the trustees value the significant contribution made to the activities of the charity by unpaid volunteers and this is described more fully in Note5.
Policies relating to assets, liabilities and provisions and other matters.
Tangible fixed assets
Tangible fixed assets are measured at their original cost value, or subsequent revaluation, or if donated, as described above. Cost value includes all costs expended in bringing the asset into its intended working condition.
Depreciation has been provided at the following rates in order to write off the assets to their anticipated residual value over their estimated useful lives.
Plant and machinery 20 % straight line Motor vehicles 25 % straight line
A regular annual review of the likelihood of asset impairment is undertaken.
Debtors
Debtors are measured at their recoverable amounts at the balance sheet date.
Creditors and provisions
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Fund Accounting
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.
General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the church 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 church 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.
There are no endowment funds.
2 Liability to taxation
The trustees consider that the charity satisfies the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 for UK corporation tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by chapter 3 part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively on the specific charitable objects of the charity and for no other purpose. Value Added Tax is not recoverable by the charity, and is therefore included in the relevant costs in the Statement of financial activities.
3 Winding up or dissolution of the charity
If upon winding up or dissolution of the charity there remain any assets, after the satisfaction of all debts and liabilities, the assets represented by the accumulated fund shall be transferred to some other charitable body or bodies having similar objects to the charity.
14
The Redeemed Christian Church of God - Rivers of Living Water
Notes to the Accounts for the year ended 31 October 2023
- 4 Net surplus before tax in the financial year
| The net surplus before tax in the financial year is stated after charging:- Depreciation of owned fixed assets |
2023 £ 5,349 |
2022 £ 414 |
|---|---|---|
5 The contribution of volunteers
The charity depends on the support of its volunteers, which is much appreciated. The church is grateful for the unflinching efforts of its volunteers who are involved in service provision, office work and administration. It is estimated that over 9360 volunteer hours were provided during 2022. The arrangements with volunteers are difficult to value precisely in monetary terms and have not been recognised in the statement of financial activities. The volunteers and the charity accept and agree that no contract of employment is created by these arrangements.
6 Staff costs and emoluments
| Salary costs Gross Salaries excluding trustees and key management personnel Total salaries, wages and related costs The average number of part time staff employed in the year was The average number of full time staff employed in the year was The estimated full time equivalent number of all staff employed in the year was |
2023 £ 17,910 |
2022 £ 16,958 |
|---|---|---|
| 17,910 | 16,958 | |
| - - - |
||
| 1 | ||
| 1 | ||
| 1 |
7 Tangible fixed assets
| Current year Cost At 1 November 2022 Additions At 31 October 2023 Depreciation At 1 November 2022 Charge for the year At 31 October 2023 Net book value At 31 October 2023 At 31 October 2022 8 Creditors: amounts falling due within one year Professional fees- accountancy |
Land and Buildings £ - - |
Church equipment £ 16,207 - |
Motor Vehicles £ - 19,740 |
Total £ 16,207 19,740 |
|---|---|---|---|---|
| - | 16,207 | 19,740 | 35,947 | |
| - - |
15,162 414 |
- 4,935 |
15,162 5,349 |
|
| - | 15,576 | 4,935 | 20,511 | |
| - | 631 | 14,805 | 15,436 | |
| - | 1,045 | - | 1,045 | |
| 2023 £ 700 |
2022 £ 700 |
|||
| 700 | 700 |
15
The Redeemed Christian Church of God - Rivers of Living Water
Notes to the Accounts for the year ended 31 October 2023
| 9 Income and Expenditure account summary At 1 November 2022 Surplus after tax for the year At 31 October 2023 |
2023 £ 79,263 24,395 |
2022 £ 59,548 19,715 |
|---|---|---|
| 103,658 | 79,263 |
10 Particulars of how particular funds are represented by assets and liabilities
| At 31 October 2023 Tangible Fixed Assets Current Assets Current Liabilities At 1 November 2022 Tangible Fixed Assets Current Assets Current Liabilities |
Unrestricted funds £ 15,436 45,414 (700) |
Designated funds £ - - |
Restricted funds £ - 43,508 - |
Total Funds £ 15,436 88,922 (700) |
|---|---|---|---|---|
| 60,150 | - | 43,508 | 103,658 | |
| Unrestricted funds £ 1,045 38,640 (700) |
Designated funds £ - - - |
Restricted funds £ - 40,278 - |
Total Funds £ 1,045 78,918 (700) |
|
| 38,985 | - | 40,278 | 79,263 |
11 Change in total funds over the year as shown in Note 10 , analysed by individual funds
| Unrestricted and designated funds:- Unrestricted Revenue Funds Total unrestricted and designated funds Restricted funds:- Building fund Total restricted funds Total charity funds |
Funds brought forward from 2022 £ 38,985 |
Movement in funds in 2023 See Note 12 £ 21,165 |
See Note 0 £ - Transfers between funds in 2023 |
Funds carried forward to 2024 £ 60,150 |
|---|---|---|---|---|
| 38,985 | 21,165 | - | 60,150 | |
| 40,278 | - | - | 40,278 | |
| 40,278 | - | - | 40,278 | |
| 79,263 | 21,165 | - | 100,428 |
16
The Redeemed Christian Church of God - Rivers of Living Water
Notes to the Accounts for the year ended 31 October 2023
12 Analysis of movements in funds over the year as shown in Note 11
| Unrestricted and designated funds:- Unrestricted Revenue Funds Restricted funds:- Restricted fund |
Income 2023 £ 91,424 3,230 |
Expenditure 2023 £ (70,259) |
Other Gains & Losses 2023 £ - |
Movement in funds 2023 £ 21,165 3,230 |
|---|---|---|---|---|
| 94,654 | (70,259) | - | 24,395 |
13 The purposes for which the funds
Unrestricted and designated funds:-
Unrestricted Revenue Funds
These funds are held for the meeting the objectives of the charity, and to provide reserves for future activities, and , subject to charity legislation, are free from all restrictions on their use.
Restricted funds:-
This fund represents the restricted surplus arising on donations to the Building fund building fund
14 Ultimate controlling party
The Redeemed Christian Church of God is the main headquarters of all RCCG church branches. During the year, the church paid institutional grants to other RCCG organisations such as the World Evangelical Mission (WEM) and Central Office Fund (COF) as stated in the account.
17
The Redeemed Christian Church of God - Rivers of Living Water
Detailed analysis of income and expenditure for the year ended 31 October 2023 as required by the SORP 2015
This analysis is classsified by conventional nominal descriptions and not by activity.
15 Donations, grants and legacies
| Donations and gifts from individuals Building Tithe & offering Thanksgiving Total donations and gifts from individuals 16 Other income and gains Current year Sundry other income Total other income Refunds from HMRC on gift aided donations |
Current year Unrestricted Funds 2023 £ 18,180 - 71,135 2,109 |
Current year Restricted Funds 2023 £ - 3,230 - - 3,230 Current year Restricted Funds 2023 £ - - |
Current year Total Funds 2023 £ 18,180 3,230 71,135 2,109 94,654 Current year Total Funds 2023 £ - - |
Prior Year Total Funds 2022 £ 24 5,918 56,800 2,602 |
|---|---|---|---|---|
| 91,424 | 65,344 | |||
| Current year Unrestricted Funds 2023 £ - |
Prior Year Total Funds 2022 £ 1,963 |
|||
| - | 1,963 |
17 Expenditure on charitable activities - Direct spending
| Current year Gross wages and salaries - charitable activities Travel and Subsistence - Charitable Activities Books Welfare Honorarium Music Other donations Outreach/Event Total direct spending |
Current year Unrestricted Funds 2023 £ 17,910 800 - 531 - 550 650 - 6,657 |
Current year Restricted Funds 2023 £ - - - - - - - - - - |
Current year Total Funds 2023 £ 17,910 800 - 531 - 550 650 - 6,657 27,098 |
Prior Year Total Funds 2022 £ 16,958 65 2,600 1,000 2,560 4,800 - 250 - |
|---|---|---|---|---|
| 27,098 | 28,233 |
18
The Redeemed Christian Church of God - Rivers of Living Water
Detailed analysis of income and expenditure for the year ended 31 October 2023 as required by the SORP 2015
| 18 Current year Current year Current year Current year Unrestricted Funds Restricted Funds Total Funds 2023 2023 2023 £ £ £ Premises Expenses Room hire 15,227 - 15,227 Administrative overheads Stationery and printing 100 - 100 Equipment expenses - - - Advertising and marketing 1,230 - 1,230 Liability and contents insurance - - - Sundry expenses 2,861 - 2,861 Information and publications - - - 1,556 - 1,556 Professional fees paid to advisors other than the auditor or examiner Other legal and professional 4,478 - 4,478 Financial costs Depreciation & Amortisation in total for the period 5,349 - 5,349 Total support costs - Current year 32,711 - 32,711 The basis of allocation of costs between activities is described under accounting policies Equipment,repairs,expenses and maintenance Support costs for charitable activities |
Prior Year Total Funds 2022 £ 12,199 865 313 2,472 227 1,263 393 - - 414 |
|---|---|
| 18,659 | |
| - - - |
19 Other expenditure - Governance costs
| Current year Independent Examiner's fees Total Governance costs Total charitable expenditure Current year Total direct spending Total support costs Total Governance costs Total charitable expenditure |
Current year Unrestricted Funds 2023 £ 700 |
Current year Restricted Funds 2023 £ - - Current year Restricted Funds 2023 £ - - - - |
Current year Total Funds 2023 £ 700 700 Current year Total Funds 2023 £ 27,098 32,711 700 70,259 |
Prior Year Total Funds 2022 £ 700 |
|---|---|---|---|---|
| 700 | 700 | |||
| Current year Unrestricted Funds 2023 £ 27,098 32,711 700 |
Prior Year Total Funds 2022 £ 28,233 18,659 700 |
|||
| 70,259 | 47,592 |
20 Total charitable expenditure
19