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 DECE￿ER 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+ab￿ale Odusote MSnister In charye Mr ￿1nYerni Odusolu Charity registered numb8r 1151560 Company roglstered numb•r 08434543 Prlnclpal offi¢e The Brook Abbey Road stratI￿d E152QT Indepondont auditors Stephen Michael AssOc￿eS 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 re￿rt 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 d￿Ument and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in a¢¢ordan¢e with the Financ￿1 Reporting Standard applicable in the UK and Republic of Ireland {FRS102) {effedive 1 J￿Uary 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 worl￿e. 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 & vis￿n. 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 pre￿NseS & making it n￿e 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 & n*ional 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 ￿1￿J10M 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 h￿eVer 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 chriSt￿rn worship at rts p￿rnises in Strafford, London where it Telocated to in March 2023 from the prev￿U$ k￿￿10n in Beckton. Essex. The Charty runs a number of cornmunrty*Ased 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 natiC￿llY & 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 - ne￿hbourhood 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 imp￿tant faclor is the continued Cornw￿Ment 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 appropri*e enquiries, theTrustees have a reasonabte expectation tt￿tthe ¢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 f￿ed 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 wh￿h 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 Meff￿rand￿rn 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 Co￿pted under the terms of the Tnjst deed. . OrganlsallC￿al $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 {X￿￿u1ted 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 Obl￿ath)nS under charity law. the Chanty's decishJn-rn*ng 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 ft￿e. Charities CornmissM)n t￿llets"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 Adm￿l$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 reI￿nerab.0n in the year. pay of the Charity's senM)r staff is fevie*ed ￿nualty and nomialty I￿ased to account for inflation based on the latest Consurner Prw Index. The rernunerat￿n 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 cOMff￿nty and spreading the gospel of Christ in an effective manner by raisiThJ its profile in the communty. also wtsnd to extend our worf￿1de influence through our various media efforts. The Charity continues h)0￿ng 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. svJnrf￿ant 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 rr*mbers and go a long way to generating further in¢c*Y*. 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 ¢onfim*d that.. $0 far as that Tntstee is aware. there is no relevant audtl infOrn￿ll0n 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(￿k￿les. have indK*ed 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 88￿nce 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 th*itable 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 requiTerr*nts 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 appIl￿ble 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 re￿vant 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 finar￿la1 ststements. we have conduded that the Trustees. ￿ of the going concem basis of ac¢ounting in the prewation of the financial $￿te￿ents is appropnate. Based on the work we have perfOrn￿d. 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 tr*4elve 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 inform*ron 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 staten*nts does not cover the other infom*tion and, except to the extent Other%￿ eXpl￿ty 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 inf0m￿tiOn. 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 ststen*nts are prepared is consistent with the financial statements. the Trustees. report has been prepared in acc￿dance with applitable legal reqUI￿rnents. 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 miss1aterr￿nts 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 ag￿rr￿nt 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 inf0m￿tiOn 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￿$. exemptwjns in p￿paring the Trustees, report and frc4n the requiren*nt to yepare a strateg￿ rep Re8ponsiblllties of trust¢•s As explained rTr)re ful￿ in the Trustees. responsibilÉt*s siaterrftnt. ihe Trustees (w*to are also the directors of the charitable company for the PUTFX)ses ot company MY) are responsible for the preparation of the finan¢01 statements and for being satisfied tI￿t they give a true and fair view. and for such intemal control as the TnJstees determine is r*¢essary to enable the preparation offinancial slatements that are free from material misstatement. whether due to fraud or error. In preparing the financial ststsments. the Trustees are responsible for assessing the chafilable company's ability to continue as a going concern. dis¢kJsing, as applicable. matters related to going concern and using the going concern basis of accounts.ng unless the Trustees erther intend to l*]uidate the charitable ¢ompany or to cease eralions or have no realistic allemative but to do so. Page9 REDEEMED CHRisnAN CHURCH OF GOD I'RCCG'I TRINITY CHAPEL (A company limited by guarantee) INDEPENDEMf AUDrroRS' REPORT TO THE TRUSTEES OF REDEEMED CHRISTIAN CHURCH OF GOD ('RCCG') TRINITY CHAPEL (CONTINUED). Auditors. re8pon8lbllltles for the audlt of the flnanclal statements Our obpctbve5 are to obtain reasonable assurance abc*rt whe￿r the financial 5taterrEnts as a whobe are free from material misstatemenL whelher due to fraud or error, and to issue an Auditors. report that includes our opinton. Reasonable assurdnce is a h￿h level ofassuran¢ but ts not a guarantee thal an auditconducted in accordance wrth ISAS (UK) wll always detecl a material misstatement when it exists. Misstatements can arise frofn fraud or error and are considered material rf. indrvKlualty or in Ule aggregate. they could reasonably be expected to influence Ihe e¢onorn￿ dea"sions of users taken on the ba*$ 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￿'ll￿es. ou111r￿1 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 ￿Ulat￿lS 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 manage￿onI {as required by audibng standards). We had regard lo laws and regulations in areas that directty affert the financial statements i￿l￿ding financral reporting and Lqxation *islation. We ¢onsrdered the extent ofcompliartt wrth those Iw arKI regulations as part of our procedure on the related financial stateTr*nt 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$. We communtc*ed identified laws and regu￿10n$ thwoughout our te￿ and ￿mained alert to any indicatsons of non 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 $28,806 75.225 130.LM)O 604031 130.000 68.918 501.788 142.5801 570,706 (42,580) 167 Analysls of net as8ets ljetween fvnds- prk)r perlod R&stnct8d Unrestncted funds al 31 funds at 31 December D￿rnber2021 Total fvnds at 31 December 2021 Tangible fixed assets Debtors due afterrnorn than one year cu￿ent assets credito￿ du& wrfhin on& year 49,365 49.365 403.626 596.262 (30. 769) 999.888 (30, 769) 403.626 614.858 1,018.484 Page 32 REDEEPAED CHRISTIAN CHURCH OF GOD {'RCCG) TRINifY CHAPEL {A comparry limited by guaranlee} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENOED 31 DECEPIIBER 2022 18. Ro¢on¢iliation of not movemont in funds to n•t ¢a$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 be￿een reLqted parties and the Chanty at 31 December 2022. Page 34