OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

← Redeemed Christian Chuch Of God Victorious Family Parish

2020-12-31-accounts

for the Y ear Ended 31 December 2020
Page
Legal and Administrative information 3
Report of the trustees 4-7
Report of the independent
examiner		 8
Statement of Financial Activities 9
Balance Sheets 10
Cashflow Statement 11
Notes to the Financial Statements 12-16
Detailed statement
of Financial Activities.
(Do not form part ofnotes to Financial statement). 17&18

for the
ear ended 31		 December 2020
Unrestricted Restricted Total Funds Total Funds
Notes Funds Funds December December
2020 2019
INCOME 8 ENDOWMENT FROM
Donations
and legacies		 133,005 4,750 137,755 129,617
Investment
Income		 31 31 52
Total Income 133,036 4,750 137,786 129,669
Expenditure
Cost ofraising funds
Raising funds 19,483 4,750 24,233 21,140
Charitable
activities
General funds 93,554 93,554 126,541
Total 113,037 4,750.00 117,787 147,681
NET INCOME
/ (EXPENDITURE)		 19,999 19,999 (18,012)
RECONCILIATION
OF FUNDS
Total funds brought forward 58,172 11,070 69,242 87,254
TOTAL FUNDS CARRIED FORWARD 78,171 11,070 89,241 69,242

as at 31 Decem ber 2020
2020 2019
Unrestricted Restricted Total Total
funds funds funds funds
Notes F
FIXEDASSETS
Tangible assets 6,053 6,053 13,160
CURRENT ASSETS
Debtors 13,304 13,304 28,695
Cash at bank and in hand 82,787 11,070 93,857 36,200
96,091 11,070 107,161 64,895
CREDITORS
Amounts
falling due within one year		 10 (23,973) (23,973) (8,813)
Net current assets 72,118 11,070 83,188 56,082
TOTAL ASSESTSLESSCURRENT
LIABILITIES 78,171 11,070 89,241 69,242
NETS ASSETS 78,171 11,070 89,241 69,242
FUNDS
Unrestricted
funds		 78,171 58,172
Restricted
funds		 11,070 11,070
89,241 69,242

Notes 2020 2019
Cash generated
from operating
activties:
Net Cash provided
by (used		 in) operating activities 57,808 (5,522)
Cash flows from investing
activites:
Interest from invetsments 508 1,840
Purchase oftangible fixed asets (659)
Net Increase/(decrease)
in cash in the year		 57,657 (3,682)
Cash in bank and in hand less overdrafts at the beginning ofthe year 36,200 39,882
Total Cash in bank and in
hand less overdrafts
at the end		 ofthe year 93,857 36,2DD
Notes
1
RECONCILIATION
OF NET INCOME TO NET		 CASH FLOW FROM OPERATING ACTIVTIES
NET Income per Statement of Financial activities 19,999 (18,012)
Adjustmenst
for:
Depreciation
Charges		 7,765 31,179
Deduct Interest from invetsments (508) (1,840)
Increase (Decrease)
in Creditors		 15,161 (5,618)
Decrease (Increase) in Debtors 15,391 (11,231)
Net Cash provided
by (use in) operating
activties		 57,808 (5,522)

Wages and Salaries Wages and Salaries
The average number ofemployees
No employees earned between 660,000 during the year (2019:2020)

Fixtures & Computer Plant 8
Premises Fittings Equipment Motor Vehicle machinery Total
E f
Cost
At 01 January 2020 118,600 7,437 1,117 5,875 53,524 186,553
Additions 659 659
At 31 December 2020 118,600 7,437 1,776 5,875 53,524 187,212
Depreciation
At 01 January 2020 115,661 7,437 1,117 5,875 43,304 173,394
Charge for the year 2,939 132 4,694 7,765
At 31 December 2020 118,600 7,437 1,249 5,875 47,998 181,159
Net book value
At 31 December 2020 527 5,526 6,053
At 31 December 2019 2,939 10,220 13,159
8. Debtors: amount falling due within one year
2020 2019
f
Loan to staff and sister parish 200 200
Debtor - other 2,250 10,748
Net Wages 2,905 2,915
Prepayments 3,555
Credit Card (Tithe and Offering) 7,949 11,278
13,304 28,695
9. Cash balance
Bank Current Account (NATWEST Current) 17,980 5,456
Bank Deposit Account (NATWEST Bonus Saver) 68,036 22,503
Cash in Hand 7,841 8,241
93,857 36,200
10. Creditors: amounts falling due within one year
Creditors 1,668 1,188
Accrued Expenses 22,306 7,624
Bank Loan
23,973 8,813

11 .Movement in fun ds
At Net Movement At
01/01/20 in Funds 31/12/20
Unrestricted funds
Charitable 58,172 19,999 78,171
Restricted Funds
Charitable 11,070 11,070
69,242 19,999 89,241
Net movements in funds, included in the above are as follows:
Incoming Resources Movement in
resources expended funds
E
Unrestricted funds
General
Fund		 133,036 (113,037) 19,999
Restricted funds
Restricted fund 4,750
Totalfunds 137,786 (113,037) 19,999
Comparative for movement in funds
At Net Movement At
12. Movement in funds 01/01/19 in Funds 31/12/19
E
Unrestricted funds
Charitable 76,184 (18,012) 58,172
Restricted Funds
Charitable 11,070 11,070
87,254 18,012) 69,242
Net movements
in funds,		 included in the above are as follows:
Incoming Resources Movement in
resources expended funds
Unrestricted funds
Charitable Fund 129,669 (147,681) (18,012)
Restricted funds
Chadtable fund
Totalfunds 129,669 (147,681) (18,012)
13. A current year 12months and prior year 12months combined position is as follows:
At Net Movement At
01/01/19 in Funds 31/12/20
Unrestricted funds
Charitable 76,184 1,987 78,171
Restricted Funds
Charitable 11,070 11,070
87,254 1,987 89,241
Related party disclosures

INCOMING RESOURCES INCOMING RESOURCES December December
2020 2019
Voluntary
income
Tithes 8 offerings 104,029 101,247
Thanksgiving 3,250 5,197
Gift aid claimed 21,657
HMRC JRSGrant 23,496
Sundry donations 5,214 1,516
Building
fund		 1,767
137,755 129,616
Investment
Income
Deposit account interest 52
Total incoming
resource		 137,786 129,668
RESOURCES EXPENDED
Cost ofgenerating
voluntary		 income
World Evangelical
Mission		 20,806 16,880
Central office charges 900 1,150
Donation to FOL 1,200 1,200
Donations - Other RCCG Parishes 1,327 1,910
24,233 21,140
Charitable
activities
Purchase oftapes and books 211 504
Honorarium 700 5,500
Children's
service expenses		 100 442
Conferences,
conventions		 and retreat 387 2,860
Welfare support 7,048 1,141
Hospitality 100 772
Audio visual expenses 169 235
Publicity 1,142 925
Legal and professional fees 1,928
Audit and accountancy fees 2,344 2,300
Professional
Fees, Licences &		 Permits 890 962
Write Off - (Welfare support)
13,090 17,568

ear ended 31 Dec ear ended 31 Dec ember 2020
Support Costs
Management
Wages 33,667 33,628
Rent and rates 15,000 9,000
Utilities 4,131 4,586
Telephone 440 517
Printing,
postage 8		 stationery 756 1,425
Insurance 9,301 8,950
Transportation 2,228 6,430
Repairs 8 renewals 8 Equipment Hire 3,249 3,882
Premises Expenses 1,444 4,909
General expenses 1,976 2,959
Depreciation offixtures and fittings 1,043
Depreciation of office equipment 132 25
Depreciation ofchurch equipment 4,694 6,391
Depreciation of church premises 2,939 23,720
79,956 107,466
Finance
Bank charges 508 983
Loan interest 523
508 1,507
Total resources expended 117,787 147,680
Net income 19,999 (18,012)