Charity number: 1151560 CoThpany number.. 08434543 REDEEMED CHRISTIAN CHURCH OF GOD ('RCCG) TRINITY CHAPEL {A company limited by guarantee) TRUSTEES. REPORT AND FINANCIAL STATEMEp4rs FOR THE YEAR ENDED 31 DECEER 2022 1111 ACCIIOL6¥ 2110912023 COMPANIES HOUSE A18
160
REDEEPAÉD CHRISTIAN CHURCH OF GOD CRCCG? TRINITY CfrL4PEL (A company limited by guarantee) coKrENTS Pa Reference and administrative details of the Charity, its Twstees and advisers Trustees, report Independent auditors. report on the finanwl *atements Statement of financial activities 8-11 12 Balance sheet Statement of cash flov 14 Notes to the financial statements 15-34
REDEEMED CHRISTIAN CHURCH OF GOD CRCCG) TRINITY CHAPEL IA company limited by guwanteel REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY. ITS TRUSTEES AND ADWSERS FOR THE YEAR ENDED 31 DECEMBER 2022 Mr Agu lThkwu Dr Shola Adeaga Mr 0+abale Odusote MSnister In charye Mr 1nYerni Odusolu Charity registered numb8r 1151560 Company roglstered numb•r 08434543 Prlnclpal offi¢e The Brook Abbey Road stratId E152QT Indepondont auditors Stephen Michael AssOceS Chartered CertTrfied Accounlants SLqtutory Auditors 201 Borough High Street London SE11JA Bankers Barclays Bank plc 737 8arking Road London E13 9PL Page 1
REDEEMED CHRISTIAN CHLIRCH OF GOO I'RCCG.) TRINITY CHAPEL (A company limited by guarantee) TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2022 The Twustees present their annual rert together with the audited financial statements ofthe ¢haritable ¢ompany for the year 1 January 2022 to 31 December 2022. The Annual report serves the purposes of both a Tmstees. report and a directors. report under company lav. The Trustees confirm that the Annual report and financial statements of the Charitable ¢ompany ¢ompty with the current statutory requirements. the requirements of the charrtable company's governing dUment and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in a¢¢ordan¢e with the Financ1 Reporting Standard applicable in the UK and Republic of Ireland {FRS102) {effedive 1 JUary 2019). Since the charitaNe company qualifies a$ small under seclM)n 382 of the Conwanies Act 2006. the strategic rewrt required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors. Report) Regulalions 2013 has been omitted. The charitable company also operates under the name Trinty Chapel. Objectives and actlvitlos •. Poll¢les and obiectsv The Chafty's main objects are". The advancement of the Christiw religion worle. and The relief of povety worfdwide. The Chatty's main objectives continue to be.. Empowering members & anyone that identif$ wilh the ethos of the ch*ity to set up an initiative or enterprise that amplffies their purpose & visn. Intensifying efftjrts in developing rrvxe communty-based initiatives that will serve as a source of transformation in our soc. Setting up formal & informal perfonnance evaluation & feedback structures that will enable the ¢harty run more effectivety. Reposrtioning the charty in the minds of the communty. rebranding the charity & the building with a view to changing people's mind-sets or perception atM)ut the church. Refurbishing the charity preNseS & making it ne fft for purpose including the restoration of vibrant and true worship. Page2
REDEEMED CHRISTIAN CHURCH OF GOD fRCCG') TRINifY CHAPEL (A company limrted by guaranteei TRUSTEES REPORT ICONTINUED) FOR THE YEAR ENDED 30 DECEMBER 2022 ObieGtives and actlvlties (contlnued Reaching out more with a view to twinging in vis1 - via spec[r brty events & more inclusive use of charity premises & rnore oulward fo¢u$ed ministry events. Reprodu¢ing new leadern & groups that will enab succession"planning for all area$ of our operations. Intensifying our training eff(Yts to ensure we have a regular suppty of competent volunteers & able-bodied lay ministers. b. Strategles for achieving objectlves: The Chanty's strategies for achieving these obj'ectives were.. Putting together adequate finan¢ial & administrative support for the running of all the Charity's activbties including the establishment of new church parishes. Building a network of relatK>nship$ within the kKal & nional community with a view to engaging them in joint communty efforts Putting together project teams to cotydinate various a¢livitw both in the Chur¢h & in the Communty. Fundraising to finance the ot¥ectNes. ¢. Activltlgs undortaken to achlove objectlves: Leadership Training Volunteer Training Community Outreach Events Conferences & Events d. Publlc benentstatement In determining how best to pursue these objectNes. the Trustees have taken on board the Charty Commission's general guidance on publ benefft and, Trts supplementary public guidance on the advancement of 1J10M the public benefft. e. Volunteers The Charty is grateful for the efforts ol its volunteer workforce that are involved in various areas of senrfice provision. development, and impleffentation of the Church's vision. It is irnpossible to put a value on the efforts of these people", we do heVer have a volunteers. training wogramme which caters for the welfare, spirrtual and sociTreconomic development of these people. f. Maln a¢tlvltie8 undertakèn to further the charl$ purposes for the public benefft It pursues these objects by the operation of a Centre for chriStrn worship at rts prnises in Strafford, London where it Telocated to in March 2023 from the prevU$ k10n in Beckton. Essex. The Charty runs a number of cornmunrtyAsed vehicles oftransfofmation that focus on assisting the disadvantaged & less well off in our local communities & alxoad. Page3
REDEEMED CHRISTIAN CHURCH OF GOD fRCCG') TRINtrY CHAPEL (A company limited by guarantee) TRUSTEES. REPORT (C014TINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Main activities und•rtak•n to further the charlty's purposes for th• public benefft (contlnue) The Charty also makes regular donations to a number of extemal organisations overseas that are better placed to further advan¢e variou$ ¢auses. OUT site is a venue that is accessible to all when programmes are being run & events Cater for people from all walks of life. We run youth, marriage. children's, men's & women's-based events. A¢hi•v•m•nts and perforniance . Revlew of a¢tivilies Significant activities that Contributed to the &hievement of these oWNes were". The Charty Continu to supwt other charities natiCllY & intemationaltry in areas that are in Ine with our objectives. Communty Outre%h events include Open Eyes IniiiatNe. a community social project Ihat deals with and addresses the ills (such as mental heamh. abuse. knife crime etc) in the society through a chat Sh1 and seminars. ConfererKes and events organised during the year in¢luded. events for the ladies such as the Lounge {virtuall', the Ladies tea party {fxe to facel: Gentlemen's Corner (virtual).. Children's Cluster" and the relaunch of the Church whle Clusters - nehbourhood house fellowship groups. The Charity continued to host the annual Christmas Carol Service (virtual and face to face). Various traning programmes were also run which included Volunteers Training & Leaders Meetings. The various accountsbilty groups we maintained. b. Inv•stment pollcy and perfornian The Trustees have decided that at present, fvnds slK)uld be taIned in Banks and Building Societies. Any ¢hange in such banking arrangements should be agreed by the Board. As far as possible. funds will be ietaine(l in interest bearing accounts. . Factors relevant to achiove oblectives The other single most imptant faclor is the continued CornwMent of rnberS both financially and in voluntary hours. P8984
REDEEMED CHRISTIAN CHURCH OF GOD {'RCCGI TRINITY CHAPEL (A company limited by guarantee) TRUSTEES. REPORT {CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2022 Flnanclal revlew a. Going ¢on¢orn After maknng approprie enquiries, theTrustees have a reasonabte expectation tttthe ¢harity hasadequate resources to continue in operational existence for the foreseeabk future. For this reason. they continue lo adopt the gc¥ng concern basis in preparing the finanual sLqtements. Further detsils regarding the adoption of the going concern basis can be nd in the ac£ounting polws. b. Ro9orvos poli The Trustees are awa of the requirement to have a reserve policy in place and aim to maintain a target balance ofa month's worth offixed operational costs at any gTrven tin. in order to ensurt the ongoing delivery of its charitable objects during an unforeseen downturn in income. The current level of free reserves {unrestri¢ted fvnd less fixed asset element) is al a level that Ès more than a nKth's worth of fed operatbonal costs. The free reserves as at 31 December 2022 is £459208 (2021, S65,4931. . Revlew of financlal positi(•n The Charity recorded an income of £1.193.059 in the year. As a result ofthe planned move to a new location. there is a specthc drive to raise a building fund. Out of the Inc0Th earned in the year, the total re$tn"¢ted fund donatK>n was £199,023 out of which £187,610 relates to the buihjing fiJrKI. M•mbers continue to ¢otrKnit to making donab'ons. d. Prlnclpal funding The Charity'$ principal fvnding is through members, contritNJtM)ns and donations: on whh we claim 9ift aid nthty on qualifying income. Struclurel governance and management a. Constltutlon The organisats.on is a charitsble company limited by guarantee, incofpjrated on 18 February 2013 with Company number 08434543. The company was estsbli%hed under a Meffrandrn of Assoctation which stipulates the objects and powers of the charitable company and is also a registered charity with the charity nurnber 1151560. b. l•1othod$ of appointment or dection of Trust¢os The management of the charity is the ponsibIlty of trle Trustees who are elected and Copted under the terms of the Tnjst deed. . OrganlsallCal $tru¢ture •nd d•cision4naking policies The Charity is organised such that the day to day running of the Church has been delegated to Ihe par Pastor, who is $upporte¢J by the respectNe function Heads. The Trustees are {Xu1ted on all issues that are material in natu and determine strategic dire(*on of the Charity's affays. Trustees meet formally as and when required to VIeW the Charity's operatsons. Pa9eS
REDEEMED CHRISTIAN CHURCH OF GOD fRCCG') TRINITY CHAPEL (A company limited by guaranteei TRUSTEES. REPORT (coKfiNUED) FOR THE YEAR ENDED 31 DECEMBER 2022 structure. governan¢o and manag0m•nt leontlnued) Policies adopted for the Inductlon and training of Trustees New Trustees are issued an Orientatic W that details their legal Oblath)nS under charity law. the Chanty's decishJn-rnng processes and fecent financial perfonnance of the Charity. Trustees are encouraged to attend appropriate exlemal training events where these will facilitate the urKlertaking of their fte. Charities CornmissM)n tllets"nS l updates are also fopwarded to Trustoos as arKI when i$$ued. •. Pay policy for kny managemont p8rsonno1 The Trustees consider the Charity's Trustees, the Pastors and Adml$tratOr o)nyise the key management personnel of the Charity in charyje of directing and ntrOllIng. funning and operating the Trust on a day-tc day basis. All Trustees give of their b'rne freety in their capacty as Tnjstees. No Trustee received reInerab.0n in the year. pay of the Charity's senM)r staff is fevieed nualty and nomialty Iased to account for inflation based on the latest Consurner Prw Index. The rernuneratn is also bench-marked with charities ofa similar size and activity lo ensure that the rernuneraticjn set is fair and not out of line with that generalty paid for similar roles. f. Flnaneial risk management The Trustees have assessed the major risks to whth the ¢hurth is exposed. in tICUlar those related to the operations and finances of the church. The Tmstees believe that by monitoring rewve levels. by ensuring controls exist over key ffinanctai systemsand by examining the oiwational risks faced by the church. they have estsblished effective syste to mtyate the Chanty's exposure lo these risks. Plans lor future peflods The Charity Continues to explore various ways of reaching out to its cOMffnty and spreading the gospel of Christ in an effective manner by raisiThJ its profile in the communty. also wtsnd to extend our worf1de influence through our various media efforts. The Charity continues h)0ng to grryw in meffknership and to develop ils members to make transformational impact in scoety. The Charity relocated to Strafford in March 2023 after spending 14 yeats in Beckton. The new location is under a 25-year lease and the Chanty twk possession in August 2022. svJnrfant renovation works have been embathed on and are orwing to ensure that it is a fit for purpose home for the members. This will serve tr) support the local community wrth opportunkn.es to Mt workspace I Conferen facilities durin9 the week that is affordable. These new premises wll aLso serve to draw in potentsal rrmbers and go a long way to generating further in¢cY*. Page6
REOEEMED CHRISTIAN CHURCH OF GOD fRCCG'I TRINITY CHAPEL (A company limited by guarantee) TRUSTEES. REPORT (coKfiNueD) FOR THE YEAR ENDED 31 DECEMBER 2022 Board of T. responsibllitles statement The Board of Trustees (who are also directors of Redeemed Christian Church of God I'RCCG'I Trinty Chapel for the purposes of Company law} are responsible for preparing the Board ofTrustees' report and the financial Slatements in accordance wlh applKable law and United Kingdom Accountr"ng Stsndards (The United Kingdom Generalty Awted Accounts'ng Practice}. Company law requires the Board of Trustees to prepare finanryal statements for each financial year. Under Company law the Board of Trustees must not approve U)e finan¢ial siatements unless they are satisfied that they give a true and fair view of the stste of affairs of the charitab company for that period. In preparing these financial statements, the Board ofTNslees a required to: select suitable accounting policies and then appty them consistenty. observe the methods and principles in the Chanties SORP {FRS 102>. make Judgements and estimates that are reasonable and prudent. sLqte whether applrable UK A¢¢ounting Stsndard$ (FRS 1021 have been follcwed, subject to any. material departures disclosed and explained in the financial staternerrts. prepare the financial ststements on the going con¢em basis unless it is approprTrate to presume that the charitable company will corttinue operating. The Board ofTrustees are responsible for keeping equate untIng recorts U)at dxiose wrth reasonable accuracy al any financial position of the charitsble company and enable them to ensure that the financial stslements compty with the Companies Act 2006. They are also responsible for safeguarding Ihe assets of the charitable company and hence for taking reasonab sleps for the prevention and detection of fraud and other irregularities. Disclosure of Information to Audltors Each of the persons who are Twstees at the time when this Trustees. report is approved has ¢onfimd that.. $0 far as that Tntstee is aware. there is no relevant audtl infOrnll0n of which the Charity's auditors are unaware, and that Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of any relevant audit information and to establish that the charrty's auditors are aware of that inforrrHtton. Auditovs The charitable company's auditofs. Stephen Michael ASS(kles. have indKed their willingness lo continue in office and offer themselves for re apFointmenl at the next Annual General Meeting. In preparing this report, the Board of Trustees have taken advantage of the small companies. exemption5 provided by section 415A of the Companies Act 2006. Approved by order ol the member5 ofthe LM)ard of Trustees on and signed on their behaw by.. [NAMEI (9 D JYJ o LL -* IDATEI 7073 Page7
REDEEIIED CHRISTIAM CHURCH OF GOD CRCCG'I TRINITY CHAPEL (A company limited by guarantee) INDEPENDENT AUDITORS. REPORT TO THE TRUSTEES OF REDEEMED CHRISTIAN CHURCH OF GOD {'RCCG') TRINITY CHAPEL Opinion We have audited the financial statements of Redeeff Chrtstian Church of God {'RCCG'I Trinity Chapel {Ihe '¢harrtable company.) for the year ended 31 December 2022 which comprBe the Ststement of financial activrties. the 88nce sheet, ttle Statement of cash ftows and the related notes. includin9 a summary of swnificant accounting policies. The financial rewting framework that has teen applied in their preparation is applicable law and United lQngdom A¢counbng Standards, including Financial Reporting Standard 102 'The Financial Reporting Stsndard applrable in the UK and Republ of Ireland. (United Kingdom Generally Accepted Accounting Praclice). In our opinion the financial sL8tements: give a true and tsir of tre Stste of the thitable company's affairs as at 31 December 2022 and of rts incomin9 resources and applicatson of resources, rKtuding its income and expenditu for the year then ended.. Ipve been property prepared in arxordance wblh United Kingdom Generalty Accepted Accounting Pra¢ti¢e', and have been weparvj in accordance With the requiTerrnts ofthe Cornpanw Acl 20(. Ba$4$ for opinion INe conducted our audrt in ac£tirdance with IntematM)nal Standards on Auditing {UK} {ISAs IUK}l and appIlble law. Our responsibilities under those Standards are further described in the Audf(ors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordan wrth the ethical requirements that are revant to our audrt of the finan¢ial statements in the Unrted Kingdom, induding the Financial Reporb"ng Councifs Ethi¢al Standard. and we have fvlfilled our other ethical resronsibiliti.es in &tordance vnth these requirements. We believe that the audit evidence we have obtained is sufficient and appropnate to rKovide a basis fr>r our opinKJn. Concluslons relallng to golng corbcem In auditing the finarla1 ststements. we have conduded that the Trustees. of the going concem basis of ac¢ounting in the prewation of the financial $teents is appropnate. Based on the work we have perfOrnd. we have not Identif any material uncertainties relating to events or conditions thal indivhjualty or collectivety. may cast synrfKant doubt on the ¢harrtable company's abilty to continue as a going concem for a period of at least tr4elve rrt)nths from when the finan¢ial $tstements are authorised for issue. Our responsibilities and the responsibilit of the Trustees with re$ct to going concem are descri in the reievarst secb.ons of this report. Page8
REDEEMED CHRISTIAN CHURCH OF GOD fRCCG') TRINITY CIIAPEL (A company limited by guarantee) INDEPENDENT AUDITORS. REPORT TO THE TRUSTEES OF REDEEMED CHRISTIAN CHURCH OF GOD ('RCCG') TRINITY CHAPEL (CONTINUED) Oth•r infonnatlon The other information comprises the informron induded in the Annual report other than the financial Statements and our Auditors. report thereon. The Trustees are reswinsible for the other infomiation ¢onlained within Ihe Annual report. Our opinion on the financial statennts does not cover the other infomtion and, except to the extent Other% eXplty stated in our repjrt, we do not express any fom of assurance conclusion thereon. Our respansibility is to Trad the other infomiation and, in doing so. consider whether the other information is materialty inconsistent wilh the finan¢ial stateff£nls, or our knowledge obtained in the course of the audrt. or otheTh¥ise appears to be materialty mwtated. If we identr'fy such material inconsistencies or apparent material misstatements. we are wuired to determine whether this gives rise to a material misststement in the financial statements themselves. If, based on the work we have perfomied. we conclude Ihalthere is a ¥terial rnisststement of this other inf0mtiOn. we are required to repjrt that facL We have nothing to report in this regard. Opinion on other matters prescribed by the Companles Act 2006 In our opinion. based on the work undertaken in the ¢OUfse of the aud. the infommtron given in the Trustees, report for the finarKial year for whicti the financial ststennts are prepared is consistent with the financial statements. the Trustees. report has been prepared in accdance with applitable legal reqUIrnents. Mattows on whlch are requlred to report by exceptlon In the light of our knowledge and understsnding of the Chartab company and ts environment obtained in the course of the audit. we have not Klenlified material miss1aterrnts in the Trustees, report. We have nothing to report in Tespect of the folithving matters in relation to whth Companies Act 2006 requires us to report to you rf, in our opin)n" adequate accountsng records have not been kep( or retyms quate for our audit have nol been . received trorn brar not visrted by us; or the financial statemenls are not in agrrnt with the accountsng records and retums,. or certain di¥closLtres of TnJstees' remunefatm Speci by law are not made" or we have not received all the inf0mtiOn and explanations we require frJr our audit; or the Trustees not enlrtled to Prepare the financial statements in xcordance with the smail companies, regime and take advantage of the small Compan$. exemptwjns in pparing the Trustees, report and frc4n the requirennt to yepare a strateg rep Re8ponsiblllties of trust¢•s As explained rTr)re ful in the Trustees. responsibilÉts siaterrftnt. ihe Trustees (wto are also the directors of the charitable company for the PUTFX)ses ot company MY) are responsible for the preparation of the finan¢01 statements and for being satisfied tIt they give a true and fair view. and for such intemal control as the TnJstees determine is r¢essary to enable the preparation offinancial slatements that are free from material misstatement. whether due to fraud or error. In preparing the financial ststsments. the Trustees are responsible for assessing the chafilable company's ability to continue as a going concern. dis¢kJsing, as applicable. matters related to going concern and using the going concern basis of accounts.ng unless the Trustees erther intend to l*]uidate the charitable ¢ompany or to cease eralions or have no realistic allemative but to do so. Page9
REDEEMED CHRisnAN CHURCH OF GOD I'RCCG'I TRINITY CHAPEL (A company limited by guarantee) INDEPENDEMf AUDrroRS' REPORT TO THE TRUSTEES OF REDEEMED CHRISTIAN CHURCH OF GOD ('RCCG') TRINITY CHAPEL (CONTINUED). Auditors. re8pon8lbllltles for the audlt of the flnanclal statements Our obpctbve5 are to obtain reasonable assurance abcrt wher the financial 5taterrEnts as a whobe are free from material misstatemenL whelher due to fraud or error, and to issue an Auditors. report that includes our opinton. Reasonable assurdnce is a hh level ofassuran¢ but ts not a guarantee thal an auditconducted in accordance wrth ISAS (UK) wll always detecl a material misstatement when it exists. Misstatements can arise frofn fraud or error and are considered material rf. indrvKlualty or in Ule aggregate. they could reasonably be expected to influence Ihe e¢onorn dea"sions of users taken on the ba$ of these financial statements. Irregularities. including fraud, are InStsn of non-eompliarKe wih laws arbd regulations. We design procedures in line with our resFrt)nSi'lles. ou111r1 above, to detect material misstatements in respect of iTregularTrties, induding fraud. The extent to whth pr(K£du$ a capable of detecting ¥regularit, induding fraud bs delaile¢J beknv: We idenbfied areas of laws and UlatlS that coubj reasonabty be expected to have a material effect on the financial slatements from our sector expenence through discusston with the Trnstees and other manageonI {as required by audibng standards). We had regard lo laws and regulations in areas that directty affert the financial statements ilding financral reporting and Lqxation islation. We ¢onsrdered the extent ofcompliartt wrth those Iw arKI regulations as part of our procedure on the related financial stateTrnt items. th the exceplton of any known or Fossible non-compllance, and as required by auditing standards. our work in respect of these was limited to enquiry of the Trustee$. We communtced identified laws and regu10n$ thwoughout our te and mained alert to any indicatsons of non<ompliance thrghOul the audit We •Jdres$ed Ihe rk8k of fraud through management override of controls, by tests'ng the appropriateness ofiournal entries and other adjustments,. assesgng whether the judgements made in making accounting estimates are irKlutNe of a Fthntral bias; and evaluating the business rationale of any snIficant transaclions that are unusual or outsKJe the norffAI ¢ourse of tSNSS. Our8udtt wocedures were desi9rd to reSPd to iisks of makTial misstatement in the financial slatements, recognising that the risk of not detecting a material misstatenEnt due to fraud is hyher than the risk of not detecting one resulting trom error. as fraud may invofve deliberate ¢oncealment by. for example, forgery. M1$Rpsentst10nS or through ¢dlusion. There are inherent limitations in the audit pro¢edU$ perfomied and the further removed non<ompliance with l&vs and reguLatKJns is from the events and transacts)ns reflected in the financial statements. the $S likety we are to beconE aware of A further der ofour Teswnsibilities for Ihe audit ofthe financol st*ments is loGated on the Financial Reporting Council's website * vrtfftv.fre.Ofg.uklauditorsresponsibilitres. This description forn part of our Auditors. report. Poge 10
REDEEIAED CHRISTIAN CHURCH OF GOD fRCcl TRINITY CHAPEL (A company limited by guarantee) INDEPENDENT AUDITORS. REPORT TO THE TRUSTEES OF REDEEMED CHRISTIAN CHURCH OF GOD ('RCCG') TRINiff CHAPEL (CONTINUED).. Use of our report This p)rt is made solely to the charitable company's w*mbets. as a body. in accordan with Chapter 3 of Part 16 of the Companies Act 20r. Our audit work has been undertaken so that we might state to the charitsble o)mpany's member5 those matters we are required to stste to them in an Auditors, report and for no olher purpose. To the fullest extent pemiitted by law. we do not accept or assume responsibilty to anyone other than the charitable company and its merrthrs. as a tdy. for our audit vth. for this repjrt. or for the opinions we have formed. Mr Stephen Oladapo Odthye Isenlor statirtory audllor) for and on behalf of Stephon Michaol AssoGlatss Chartered Certified Accountants Statutory Auditors 201 Borough High Street Ls)ndon SE11JA Date 11 2OSg Page11
REDEEMED CHRISTIAN CHURCH OF GOD ('RCCG'I TRINITY CHAPEL (A company limiled by guarantee) STATEMENT OF FINANCIAL ACTivmES (INCORPORATING INCOME & EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2022 Restrlcted funds Unrestrlcted Totsl funds funds Tot81 fvnds 31 31 31 31 Oecember DeCemr Decembor December 2022 2022 2022 2021 Income from: Donations and Le9a¢ies Charf(able ActNities Investment$ 199.023 931.424 62.320 292 1.130.447 62.320 292 865.393 25.829 115 Totsl Incom• 199 023 994 036 1 193 059 Expendlturo on: Charitable Activities 4.925 949.386 686.969 Total Expendlture 4,925 944.461 949,386 686.969 Not movement in funds 194.098 49.575 243,673 204388 Reconclllatlon of Funds: Total Funds brougm forward Nel movement in Funds 403.626 194.098 614,858 49.575 1.018,484 243.673 814, 116 Total Funds carried forward 1 262,157 1018 484 The Slaternent of fthancial arti¥it*s indude5 al gains and losses recognised in the year. The notes on pages 15 to 34 form part ol these financial statements. Page 12
REDEEMED CHRISTIAN CHURCH OF GOD {'RCCG'I TRINITY CHAPEL (A company limited by guarantee- Reg no 0843453) BALANCE SHEEr AS AT 31 DECEMBER 2022 31 D¢cwb)b¢r 2022 31 December 2021 Tangible A55ets 11 604.031 49.365 604.031 49.365 Curvent A588ts Debtors Cash at bank and in hand 12 169.010 531.696 25,620 974.268 7Tr).71 999.888 Creditorn.. amounts faming due wilhin one year 13 (42,580) (30,769) Net Cufr•nt A80¢ts 969 119 Totsl A8sets1088 Curront Llabllltle* 1261157 1,018.484 Total N•t Ass•ts 1262 157 Charity Furtds Restricted Funds Vnrestricled Funds 15 15 $97.n4 403.626 614.858 T•tsl FuNI8 1262 157 The Trustees acknowledge their responsibilrties for COMsn9 Wbth the requirements of the Act with Spect to accounting records and preparation of fanCIal StateMts. thè smal comprn. reyime. The financial state1rts were apwoved and aulhorised for issue by the Trustees and signed on their behalf kncJwJF 2oiS The notes on pages 15 to 34 fDmi part ofthese finanL?al ststeffonts. Page 13
REDEEPAED CHRISTIAN CHURCH OF GOD fRCCGJ TRINITY CtriAPEL (A company limrted by guarantee) STATEh*NT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2022 Total fvnds Total fvnds 31 December 2021 2022 Cash flows from operating activitiès: Net Cash used in operating activities Cash fk•w8 from Inv•stiftg activitles: Purchase of tangibte fNed assets 591.147 Net cash used In Invutlng a¢tfvltl 591 147 Cash flows from financing activiti•s: Net cash piovided by financing activitss Change in cash and cash equivalents the pernd (442,S721 250.579 Cash and Gash equr¥alents at the beginning of the period 974.268 723,689 Cash and cash equivalents at the end of the perK 974 268 The notes on pages 15 to 34 forni part of these financial statements. Page 14
REDEEMED CHRISTIAN CHURCH OF GOD CRCCG) TRINITY CHAPEL {A Company limited by 9uaranteel NOTES TO THE FINANCIAL STATENENTS FOR THE YEAR ENDED 31 DECEMBER 2022 General inforniatlon The charable company 15 a wvate conyny limited by guantee. inc¢)fporated in England on 18 Febwary 2013. The address of its registered offKe The Brook Abbey Road I Canning Road Juncti Strafford. E15 2QT l Accounting pollcies 2.1 8asl8 of preparatlon of financial ststements The financial statements have been prepared in xcordance wrth the Charities SORP IFRS 102) -Ac¢ounting and Reporting by Charitie5: Slatement of Recommended Practice appli¢able to Charities weparing their accounts tn a¢¢ordance wtth the Finan¢ial Reporting Standard applicable in the UK and Republtc ot Ireland (FRS 102) (effe¢tive 1 January 20191, the Finan¢ial Reporting Standard apICable in the UK and Republ of Ireland (FRS 102) and the Companies Act 2006. Redeemed Chrrstian Church of God ('RCCG'I Trinity Chapel meets the definition of a public benefrt entty under FRS 102. Assets and liabilities are initialty recognised at historical cost or tran&7ction value unless otheiSe stated in the relevant accounting policy. 2.2 Going ¢onc¢rn The financial statements have been prepared on a going concem basis as the trustees belTreve that no material Uncertaint exist. The trustees have considered the cashflow forecast and the projected in¢offE and expenditure for 12 months from authorising these finanal statements. The level of free reserves and funds held is Sufflent for the charity to be able to cofflinue as a going concem. 2.3 Income All income is reCognd Itte ¢haritable conpany has entillement to the in¢ome, it 1$ obable Ihat the incorrt wjll be receT¥ed. and the an))urrt of income recerwable ¢an be measured reliably. Grants are induded in the SLThnt of finla1 xtrwlties on a receivable Iwts. The balanc• of inc(vne recewed for Speci purFrf)ses but not expended during the period is shown in the relevant funds on the BaL4nce sheet. Where inco* is received in advance of entrtlement ol receipt. ils recogniti is deferred and included in credilors as deferred income. Where Income tax recoverable in relation to th)nations recerved mIer Grft Aid ly deeds of Coven is recognised at the tffne of the donatK)n. Income lax rec¢)verabl8 in felatK)n to InveStn income is recognised at the time the investment income is recerwabk. Page 15
REDEEMED CHRISTIAN CHVRCII OF GOD fRCCG) TRINITY CHAPEL (A company limited by 9uarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 310ECEMBER 2022 Accounting policles (conllnued) 2.4 expendlture Expenditure is recogni5ed once there is a legal or CorctNe obligation to transfer economic benefit to a third paty. it is probable that a transfer of economic benefits will be required in Sement ar the arrK)unt of the OlgatiOn can be measured reliabty. Expenditure is classified by a£tivty. The ¢osts ofea¢h actNIty ae made up of the total of direct costs and shared ¢osts, including supwrt costs involved in undertaking each activty. Dire¢t costs attributable lo a Sing actNty are allocated directty to thal &trvty. Shared costs which contribute to more than one activty and support costs which are not attributable to a single tivity are apFthM)ned belween those actwrties on a basi$ wiststent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation Charges allocated on the portton of the assefs use. Expenditure on ¢haritsble activities is incurred on directty undertakiNJ the activities which fijrther the charity's objectives, as well as any a$slated support costs. All expenditure is indusive of irrecoverable VAT. 15 Government grants Govemment grants relating to langible fixed assets are treated as deferred income and released to the Statement of financial actNilies over the expected useful INe$ of the assets ¢oncemed. Other grants are credtted to the Staterrtht of financ¢al xtivrties as the related expenditure incur. 16 Forglgn currencles Monetary assets and liakn'lities denominated in fOren currencs are translated into steding at rates of exchange rulin9 at the reporting d Transacts"ons in foreign currencies are tranSted into sterfiThJ at the rate Nling on the date of the transa¢bon. Exchange gains and losses are rec4)gnised wi the stateTht of finarrial activities. 17 Tan9ibl• fNod ass•ts and depreclation Tangible fixed assets costing £500 or nY)re are catslised and recognised when future economi benefits are probable and the cost or value of the asset can be rttasud reliably. Tangible fixed assets are initkqlty recognised at cosL After recognition, under the Cost model, tangible fixed assets are rn&Ured at cost less accumulated depreciation and any accumulated impaimpnl losses. All Costs incurred to bring a tsngible fixed asset into its intended working condbtion should be included in the nSUrement ofcost Depreciation is charged so as to allocate the cost of tsngible fixed assets $$ their le$Ual value over their estimated useful lives. Page 16
REDEEMED CHRISTIAN CHURCH OF GOD I'RCCG.) TRINITY CHAPEL (A ¢(xnpany limi by 9uarantee) NOTES TO THE FINANCIAL STATEhENTS FOR THE YEAR ENDED 31 DECEIR 2022 Accountlng pollci•s (contlnued) 2.7 Tangible fix•d awts and depreciation (ntInU•d) Oeprecialbon is provthl on the follo"n9 bases.. Equipment and fumibJre Fixlure and fithngs 33.33% SIraht line 12.5% stravjht line 18 Debtor4 Trade and other debtors are recogntsed at settlement aff#)unt after any trade discount offered. Prepayrnents are valued at the amunt prepaid nel of any trade discounts due. 19 Cash at bank and In hand Cash at bank and in hand includes Gqsh and short-tem highly liquid investrnents with a short maturity of three months or less from the date of wuisitson or cpening of the deposit or similar account. 2.10 Llabili¢ios and provisions Liabilities are recognised when there is an Oblatl at the Ba5ance sheet date as a result of past even( it is probable that a transfer of economic benefftwll be required in settlement. and the amount of the setuement can be esbmated reliably. Liabilities are recognised at the amount that the charity anticipales il will pay to settle the debt or the amount tt has re¢etved a5 advanced payments for the goods or services it must provide. Provisions are measured at the best esb"m of the amounts required to settle the obligation. Imiere the effect of the time value of money is material. the provision is based on the present value of those amunts. discounted at the prtrtsx dixount rate that reflects the risks specific to the liability. The unwiTrJing of the diseount is reccJnised in the Statement of financial actbvits as a finance Cost. 2.11Financial Instnlments The charity onty has financial assets and finarKial liabilities of a kind that qualify as basic financial Instruments. Basic financial instruments are inibally recognised at transaction value and subsequenty measured at their settIent value with the exception of bank loans whth are subsequentty Irured at anKirtiwJ cost Uswlg the effectr've interest method. 2.12Pen81ons The Charity operates a defined contn"bution pensKn scheme. and the Fension charge rewesents Ihe amounts paYae by the charity to the fund Ki respect of the year. 2.13Fund accounting General funds are unrestricted funds Wh are available for use at the discretion of the Trustees in furtherance of the general obje¢bves of the th*ity and which have not been designated for other purp)ses. Page 17
REDEEhlED CHRISTIAN CHURCH OF GOD I'RCCG.) TRINITY CHAPEL IA c(npany limited by guarantee) NOTES TO THE FINANCIAL STATEMEMfs FOR THE YEAR ENDED 31 DECEMBER 2022 113 Fund accountin9 (continu) Reslrthd funds are funds are to be used in aOrdanCe with specific restrict#)ns imposed by donors or which have been raised by the charity for parbcular purwses. The costs of raising and administerir¢g such funds are charged against the SFecific fijnd. The aim and use of each restricted fund i8 set out in the notes to the finala1 statements. Investment in¢off. gains and losses are allocated to the appropr* fvnd. Incom• fr(wn donatlons and legacle• Total funds nds funds 31 D•cembet 2022 31 December 2022 310ecember 2022 Donations 199,023 816.518 1.015.541 Govemment grants IVAT reluftd) 11 199.023 931,424 Restrtted funds UnrestrKted lunds Total fvnds 31 December 2021 31 Dgcernber 2021 31 December 2021 Donations 84.569 772.IKIi 856,570 Govemment grnnts CJRS 8.823 93.392 772.001 The Government grant in 2022 is the refund ofVAT on renovalion and refft on the teasehrAd WOFerty through the Listed Place ol Worship scheme. The Govemrnent grant in 2021 is rneY receNed under the Corona Vwus Job Retention Scheme. Page 18
REDEEMED CHRISTIAN CHURCH OF GOD I'RCCG'I TRINifY CHAPEL IA comparry limrted by guarantee) NOTES TO THE FINANCiAL STATE1rs FOR THE YEAR ENDED 31 DECEMBER 2022 Incomo from charltablo activitses Unrestricted funds 31 December 2022 Irne frorn charilable activities - Events and conference 8.861 Income from Chantable actNitS - 80(S and tapes sale Income from charitable a¢tr¥rt- Hall hire and other lated income 37,$50 In¢(Mre from charitable actwities- Cafe UnrBstrirted funds 31 December 2021 Income from charitable activities - Events and wiference fees 1,529 Incorne from Gharitable actvrfS - Books and tapes sale Incomg from chantable a¢twits - Hall hire and other related income 20.859 Income fnvn charrtable actNilies- Cafe 3.441 25,829 Page 19
REDEEMED CHRisnAN CHURCH OF GOD fRCCG'I TRINITY CHAPEL (A company limibj by guarantee) NOTES TO THE FINANCIAL STATEmE1s FOR THE YEAR ENDED 31 DECEMBER 2022 Investment income Restri¢t¢d fundg Totsl funds funds 31 December 2022 31 Decemb•r 31 Docember 2022 2022 InveslffEnl irKcme- local cash 292 292 RestriGted Funds Unrestlicted funds Tot81 Funds 31 Drnber 31 December 31 Dec8mber 2021 2021 2021 79 Investment in¢on- Restrthd funds rdate to interest received in the b8nk accounts Wre these resthcted funds are held. This is included in the l)ank balanc4s at the end of ttle year. Amtyskn ol •xpenditur• on ¢hilabh acllvltles Total funds funds nds 31 December 2022 31 D¢¢•mber 31 December 2022 2022 Advancement of Christian Failh 4)rldw 4.925 944,461 949 386 Unftsfricted Funds Total Funds Funds 31 December 2021 31 December 2021 31 Decembgr 2021 Advancerr*nt of Christian Faith 665 389 686 969 Page 20
REDEEMED CHRISTIAN CHURCH OF GOD fRCCG') TRINITY CHAPEL {A company limited by 9u•r8r)tee) NOTES TO THE FINANCIAL STATEkEKfs FOR THE YEAR ENDED 31 DECEER 2022 Anaty818 of •xpondilure by athlll•s undertaken directly Support Costs Total funds 31 Dewnber 2022 31 D¢cember 2022 31 Decèmtser 2022 IvancenRnt of Chrtstian Failh tir1d 723 986 Trust only Activities undertaken directty Total funds costs 31 DKember 2021 31 December 31 December 2021 2021 Advancemgnt of Chiistsan Faith bvorfdw 482.426 686.969 Page 21
REDEEMED CHRISTIAN CHURCH OF GOD I'RCCG'I TRINITY CHAPEL IA rnPany limited ty guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OECEMBER 2022 7. Anatysis of exp•ndltuv• by aclivili•s {¢ontlnwd) Anaty81s of dlrnd co•ts Actlvitigs undertak•n diro¢tty Total nds 31 December 31 Decembor 2022 2022 Staff costs Donat*)ns Hall hire Visiting $peakws expenses Conferences and events Welfare 116,730 16.990 19,846 13.2 39,279 4,925 116.730 16.990 19.846 13,2 39,279 4.925 ActivrtS undertaken directy Total lunds 31 Drnber 31 December 2021 2021 Stsff costs Don8tion$ Hall hire Wisiting Speake expenses Conf•rnnces and events 89,425 43,967 6.137 11.777 31.657 21.580 89.425 43.967 6, 137 11.77T 31,657 21,580 204,543 Page 22
REDEEPAED CHRISTIAN CHURCH OF GOD CRCCG.) TRINITY CHAPEL (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 7. An81$ of •xpondiiurn by activikn (conknuedl Aftaty818 of 8UPPOrt ¢08ts Advancement Governance of Christian Costs Faith 31 December Worldwide 2022 31 December 2022 Total funds 31 December 2022 Staff costs Deprecialion Premises ¢o$t Sundry chur¢h expenses Staff training Members. training Café Comrnuni¢ati¢)n ¢ost Mulbmedra & IT expen$8S Legal and professional fee Insurance Hire of vehe and equrnent Grfts to parishionws others Event ¢atering Advertising and wblKaiioTr Consultary Prinbng FX)Stage and slaltorery Bank charges Travelling expenses 135,615 36,481 138,C67 23,745 135,615 36.481 138,067 23,745 400 10.469 16.004 43,583 86.119 1.303 10.819 2,767 550 8.605 400 10A69 16,004 43,583 90,919 1,303 10,819 2.767 550 4,800 38,000 667 9,709 3,414 12.105 ISA13 e67 9,709 3,414 12.105 15.413 Repairs arKI ffointenance Bookstalls Foreign exchange (gaininoss VAT on construction National insurance Pension Cost (823) 114,9CI3 4.933 5.847 1823) 114,906 4933 SW7 719.188 4.800 n3.986 Page 23
REDEEMED CHRISTIAN CHURCH OF GOD ('RCCG') TRINITY CHAPEL IA company h'mited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Anoty81s of support ¢osts (¢onllnu•dl Advancement of chriStn Faith Total Funds 37 December 31 December 2021 2021 Staff costs Depreciation Pffmises cost Sundry ¢hur¢h expenses staff training Cafa CommunKa1 cost multimed & IT expenses Leg81 andpffjfessMNl fee Insur8n Hire of vehide and equipment Grts to parishioners and otl Event catering 169.3 6.329 124.617 10.673 598 3,3T4 15,494 31.676 902 1.316 19,895 2.537 7.239 11.027 37.5CiI 169.300 6.329 124.617 10,673 3,374 15.494 31.676 902 1.316 19,895 2.537 7.239 11.027 37.0 onsultan¢y Pnnting postage and stat*)nery Bank charges Traveming expenses Refreshment Repaits and maintenance Bookst8118 Forewn exchange {g8in)Aoss Govemance cwts 8.033 4.139 8.033 4. 139 6.883 15.901 252 61 4,296 252 61 4,296 482.426 482.426 Pagè 24
REDEEMED CHRISTIAN CHURCH OF GOD fRCCG') TRINITY CHAPEL (A company limited by guarantse) NOTES TO THE FINANCIAL STATEMEKfs FOR THE YEAR ENDED 31 DECEMBER 2022 8. . Audltors. remunwatton 31 December 2022 31 December 2021 Fees payable to the charity's audbtor for the audit of the charivs annual A¢¢ount$ 4,800 4.296 9. Staff costs 31 December 31 December 2022 2021 Wages and salaries Social security ¢osts Contribution to defined contribulion pension schemes 252.345 19.267 5,847 235.068 19.935 4. 722 277,459 259, 725 The average number of persons employed ty the chwity during the year ended 31 December 2022 was as follows. 31 December 2022 31 December 2021 Pastors Churth Administration Page 25
REDEEMED CHRISTIAN CHURCH OF GOD fRCCG'I TRINITh CHAPEL (A a)mpany limiied by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Staff ¢osts {conllnued) The number of employees whose employee beneffts {exdudirKJ employerfs pens costs and employerfs Nl) of higher paid staff in the followry band was." 31 Decembgr 31 December 2022 2021 In th• band rio,rAJ1- £80.000 10. Trusto•s' remuneratlon and •xp•nso5 During the year ended 31 December 2022. no Trustees rewved any MneratIOn or other beneffts. During the year ended 31 December 2022. no Trustee expenses have been incurred. Page 26
REDEEMED CHRISTIAN CHURCH OF GOD {'RCCG') TRINITY CHAPEL (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEIABER 2022 11. Tanglbh fw•d ass•ts Leasehold Other fixed Total Cosl or valuatlon At 1 January 2022 Additions 455,444 591.147 528,806 61341 At 31 December 2022 528,808 517.785 1,046.591 D•preclation At 1 January 2022 Charge for the year 406,079 36.481 406,079 36,481 At 31 December 2022 442,S60 N•t book value At 31 December 2022 75.225 601031 At 31 December 2021 49,365 49.365 Page 27
REDEEMED CHRISTIAN CHURCH OF GOD fRCCG') TRINITh CHAPEL (A company limiled by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 12. 31 December 2022 31 D8cember 2021 Ou• wknln one year. Other debtors Prepayments and accrued in¢on Tax recoverale 28.459 62 10,489 8, 733 16,803 39.010 25.620 Du• after more than on• y•ar. 130.000 169.010 25.620 13. Cr•t0. Amounts falllng du• within on• year 31 December 2022 31 December 2021 Other taxation and social SritY Pension fund Other credrtors 184 1,331 23,071 17,994 T.021 1, 782 9. 734 12.232 30, 769 14. Flnanclal in6truments 31 De¢ember 2022 31 Decembar 2021 Flnanclal a88¢ts Financial assets measured at fair value through in¢ome and expenditure 531,696 974,268 Financial assets waSured at fair value through incorne and expenditure comprise cash at bank and in haThJ. Page 28
REDEEMED CHRISTIAN CHURCH OF GOD CRCCGJ TRINITY CHAPEL (A clmnpary limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2022 16. Statement of fun(ts Summary of funds- curT•nt y•ar Balan¢0 at f January 2022 Balanc• at31 Decemb8r 2022 Income Exwidlture Unrnstrid•d ld$ General Funds 614,858 9x036 944A61 Restrlcted lund8 Building fund vIeWa fvnd 398,416 5.210 187,610 11.413 586,026 11.698 (4.925) 403.626 199.023 14.92SI 597.724 1 193 059 1 262 157 Building fund represents donalicffls trdS the or renovab'on ol the church's new pU7ce ofworship. Welfare fund relates lo donations towards supporiing general welfare needs The charity has enough fund$ to supwt the $trted fvThJ. Page 29
REDEEIAEO CHRISTIAN CHURCH OF GOD CRCCG) TRINITY CHAPEL IA ccrfnpany limle ty gw•ntée) )TES TO THE FINANCIAL STATEMENTS FOR TrE YEAR ENDED 31 DECEMBER 2022 Summary of fund8- prfor perlod Balance at I January 2021 Balance at 31 In¢om8 Expendit¢ 2021 Unrestrictad funds General Funds 482.302 797 945 665 389 614.858 Building fund Weware fvnd Corona Virus Job Retents'on Scheme 319.879 11.935 78.537 14.855 8,823 398,416 5.210 (21,580) (8.823) 331.814 102.215 (30.403) 403.626 Total of funds 814.116 9.760 (695.792) 1.018.484 Page 30
REDEEMED CHRISTIAN CHURCH OF GOO I'RCCG) TRINITY CHAPEL (A cx)mpany limited by gu¥•ntee) NOTES TO THE FINANCIAL STATEMEiirs FOR THE YEAR ENDED 31 DECEMBER 2022 Summary of funds Balance at31 December 2022 Balance at 1 January 2022 Incom• EXpendIrn General Fd$ 614.858 {944.461) 664.433 Restricted funds 597 724 1.018N 1.193,059 1949,386> 1,261157 Summary of funds- prlor perlod Balance at l July 2021 8alance 31 December 2021 Gerwal Funds T97.945 (665.389) 614.858 331,814 93,392 (21.580) 403.626 814.116 891.337 (686.908) 1.Of8.484 Page 31
REDEEMED CHRISTIAN CHURCH OF GOD CRCCG? TRINITY CHAPEL IA company limitsd by gu¥rantee) NOTES TO THE FINANCIAL STATEMEPKS FOR THE YEAR ENDED 31 DECEMBER 2022 17. Analysls of net assets between funds Analysls of net assets botween funds- current year Totsl funds at31 Decemb•r 2022 Restrictod nds at 31 December 2022 funds at 31 Oecember 2022 Tangible fixed assets Debtors due after more than 1 year Current assets Creditors due within one year $28,806 75.225 130.LM)O 604031 130.000 68.918 501.788 142.5801 570,706 (42,580) 167 Analysls of net as8ets ljetween fvnds- prk)r perlod R&stnct8d Unrestncted funds al 31 funds at 31 December Drnber2021 Total fvnds at 31 December 2021 Tangible fixed assets Debtors due afterrnorn than one year cuent assets credito du& wrfhin on& year 49,365 49.365 403.626 596.262 (30. 769) 999.888 (30, 769) 403.626 614.858 1,018.484 Page 32
REDEEPAED CHRISTIAN CHURCH OF GOD {'RCCG) TRINifY CHAPEL {A comparry limited by guaranlee} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENOED 31 DECEPIIBER 2022 18. Ro¢on¢iliation of not movemont in funds to n•t ¢a$h flow from operatlng actlviti•s 31 De¢ember 31 December 2022 2021 Net income for the year (as per Staten*nt of Fina[ Activities) 243,673 204.388 Adjustments for. Depreciation charges Decreas&llncrease) in debtors Increasel{Oecrease) in creditors 36,481 (143,390) 11.811 6.329 85.603 437 Net cash o¥ided by operating aclivilies 296. 737 19. Analysis of cash and cash equivalents 31 Decombèr 31 December 2022 2021 Cash in hand 531.696 974,268 Total cash and eash w4ui¥aleDts 974,268 20. An•ty$is of changes in n•t debt At1 January 2022 At31 D¢¢ember 2022 Cash flows Cash at bank and in hand 974,268 1442.572) 531,696 974258 Paye 33
REDEEMEO CHRISTIAN CHURCH OF GOD CRCCG) TRINITY CHAPEL (A c(ynpffj limrtod by guwanteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OECEM8ER 2022 21. Pension mMItrnents The Ch¥ty OFwates a defined ntrIbutIOnS pension Scheff. The assets of the scheme are held separately from those of the Charity in an independenty administered fvnd. The pension cost charge represents contribults)ns payable by the Charity to the fund and aTK)unted to £5.847 {2021- £4.722} Owrating lea80 wnmlkn•nts At 31 Decertw 2022, the Charity h•J annual ¢omnutiMnts on operating leases as follows.. 31 December 2022 31 December 2021 Not later than 1 y Later than 1 year and not later than 5 years Later than 5 years 260.000 1,040,000 5,200.000 23. Related party transactlon8 The Charty has nol entered into any reL•ted paty transaction during the year, nor are there any outstanding balances owing beeen reLqted parties and the Chanty at 31 December 2022. Page 34